long-term travel

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    #330: Ask Paula: How Do I Know If I’m Ready to Retire?

    ByPaula Pant
    [smart_track_player url="https://traffic.libsyn.com/secure/paulaandjaymoney/AA330.mp3" title="Ask Paula: How Do I Know If I’m Ready to Retire?" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Linda is 58 and wondering how to account for her Social Security benefits when thinking through the 25x expenditure equation. Her expected expenses are $100,000 – $150,000. How can she figure out if she’s ready to retire?

    Mr. Man is eligible to retire with a full pension, health benefits, and social security at age 48. He has 20 years to go. Should he include his pension and social security benefits in his financial independence plan, or think of them as extras?

    “Timothy,” a lawyer from Colorado, has $250,000 in a SEP-IRA account that’s invested in mutual funds with fees ranging from 0.61 percent to 1.06 percent. Fees on these funds are projected at $200,000 over the next 20 years. Should he and can he transfer these funds to another SEP-IRA account? What are the consequences of doing that?

    Alise has dreamed of living abroad for long periods of time and wants to buy a property in Portugal before the minimum spend requirement increases. Should she go through with this, or is there another way to gain dual citizenship or travel abroad for long periods of time?

    Former financial planner Joe Saul-Sehy joins me to answer more of your questions.

    Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.

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    #227: Ask Paula – How Can I Get the Most from My Mini-Retirement?

    ByPaula Pant
    [smart_track_player url="https://traffic.libsyn.com/paulaandjaymoney/AA227.mp3" title="Ask Paula - How Can I Get the Most from My Mini-Retirement?" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Lien is taking a year off of work to live the van life with her husband. She wants to know how she can make the most of this sabbatical to figure out how to turn her less-than-inspiring career into a lifestyle that she loves.

    Lien called in again to say that she wants to start a new business and a family when she returns from her gap year. Her former job offered excellent health benefits and maternity leave, but she doesn’t really want to go back. What should she do?

    Eddie wants to build his real estate portfolio. How should he approach downpayments – put down more to net more profit, or put down less to acquire more properties?

    Wilson is wondering if it’s a good idea to partner with a friend on real estate ventures. What are the downsides?

    Wilson also wants to know about real estate business expenses, and the pros and cons of short-term rentals vs. long-term rentals.

    Sean has an inconsistent employment history and is struggling to find a lender that will give him a mortgage. He wants to know if there are any other ways he can get a mortgage for a 4-plex?

    An anonymous listener is thinking about taking the leap into real estate investing and wants to know how to overcome the fear they have about it. Also, should they put all of their savings towards real estate?

    Anonymous is also wondering: how do you calculate net worth when you’re married?

    I answer these questions on today’s episode of the podcast. Enjoy!

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    #223: Ask Paula – Should I Choose This or That? How to Weigh the Tradeoffs

    ByPaula Pant
    [smart_track_player url="https://traffic.libsyn.com/paulaandjaymoney/AA223.mp3" title="Ask Paula - Should I Choose This or That? How to Weigh the Tradeoffs" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Elizabeth is curious to know: what does a good net worth breakdown look like? Is it appropriate to have a lot of your net worth tied up in real estate?

    Marie wants to start her own business, but she’s living paycheck-to-paycheck. Is incurring debt her only option to make this dream a reality?

    Bria wants to take a second mini-retirement and has a good chunk of money saved up. She wants to come back to the workforce with a cash cushion. What should she do with her money while traveling?

    Anonymous is relocating from Southern California to Florida. She wants to know if she should rent an apartment and buy a rental property, or buy a primary residence with the $150,000 she has saved.

    Connor is facing a dilemma. Is he correct in not prioritizing 401k contributions given that his employer doesn’t offer a match, combined with his goal for financial independence? Is his strategy of using his savings for real estate investing better?

    Caroline is wondering: should she aggressively pay off her home and her rental properties, or use her excess savings to fund a brokerage account?

    Today’s episode is full of exploring and weighing tradeoffs. Let’s dive in!

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    #219: Ask Paula – How Should I Invest $4,000 Per Month for Early Retirement?

    ByPaula Pant
    [smart_track_player url="https://traffic.libsyn.com/paulaandjaymoney/AA219.mp3" title="Ask Paula - How Should I Invest $4,000 Per Month for Early Retirement?" artist="Paula Pant" social="true" social_twitter="true" social_facebook="true" social_gplus="true" social_linkedin="true" social_stumble="true" social_pinterest="true" social_email="true" ]

    Stella is working toward FIRE and wants to know: how can she create passive income in her retirement years? Is a portfolio with stocks and bonds enough, or should she invest in real estate?

    Travis and his wife are also on the FIRE path, and are comparing their investment options. Travis is concerned about the inefficiency of reinvesting returns in real estate. How can you factor this into your decision when buying a property?

    Stephanie and her husband are also interested in FIRE (hooray!) and they have $20,000 to invest. How can they best use this money to help them FIRE sooner?

    Cade, a 24-year-old listener, wants to FIRE by age 30 (we’re on a roll!). He’s saving $4,000/month and wants to know how to invest these savings.

    Anonymous and their partner are taking a mini-retirement and have questions surrounding the logistics of healthcare. What options should they consider?

    On a different note, Amanda works in academia. After listening to Episode 12, she’s looking for tips on managing long-term, complex collaborative projects now that she’s in a leadership position.

    Steve’s question brings us to the topic of building an online business and social media following. Should he have one brand for all of his interests, or divide these interests into separate channels?

    I tackle these questions in today’s episode of the show. Enjoy!