By Paula Pant
Money, relationships, health and purpose: life is running smoothly when all four of these elements are working together in tandem, like wheels on a car.
But how can we make spending and investing choices that facilitate stronger relationships, better health and a deeper sense of purpose?
Andrew Hallam, who became a millionaire on a teacher’s salary, shares researched-backed, evidence-based insights into how to find balance, drawing from the worlds of behavioral finance and stock market history.
By Paula Pant
Geoff Woods, Vice President of The ONE Thing and host of The ONE Thing podcast, is an expert on ruthless prioritization, habit development, and goal setting.
The simple framework he presents allows you to focus deeply and commit to the actions you need to take if you want to take your productivity to the next level this year.
Enjoy!
By Paula Pant
Charlie in Cali has enough money saved to pay cash for a house, but she and her husband decided to finance their home, instead. They’d rather invest the money and arbitrage the spread.
But one problem: how can they keep themselves from touching this investment?
Jay is choosing between Fidelity and M1 Finance and has questions about tax loss harvesting.
Nicole and her siblings will be inheriting some properties that they eventually plan to sell. How should they set up or organize these properties among so many owners? Should one person take the lead? Do they need a shared business account? Also, how should they evaluate a property and make sure they get a good deal when they sell?
Ed owns three homes, two of which he plans to sell in the next few years. He plans to live in them long enough to establish residence and take the capital gains exemption when they sell. Is his plan for handling the taxes solid?
We answer these four questions in today’s episode.
Enjoy!
By Paula Pant
Briale opened a Variable Annuity inside a 403b at work when she was 23. She has 17 years to go before retirement. As an elementary school teacher, her pension will be $6,000 per month. Should she stop contributing to the annuity and contribute to a Roth IRA instead?
Debi has an extra $1,000 each month and isn’t sure where to save it. She also has $10,000 in a CD which will reach maturity in August 2021. Her goal is to buy a residence in the next five years. Should she save this all for a downpayment?
Dominique is concerned about her parents retirement portfolio. Their advisor charges a fee of 1.5 percent assets under management. Her parents are frugal and they don’t realize how much they’re paying. Should she talk to them, or drop the issue?
Sarah isn’t sure whether she should put more of her savings towards a Roth 401k or a 529 fund for her future kids. Which option is best if she wants financial flexibility?
Hunter put a credit freeze on his two children’s credit, which required sending each credit union documentation via mail. Experian and TransUnion confirmed the credit freeze, but Equifax didn’t. Upon calling, the representative gave Hunter a different mailing address for the documents. What should he do?
My friend and former financial planner Joe Saul-Sehy joins me once again to tackle these questions. Enjoy!
By Paula Pant
Greta is tired of financial modesty. She wants to achieve financial independence through diversified income streams, and has her eyes set on owning local duplexes. What should she focus on to make this happen?
Jeannie wants to know: should you scale back 401k contributions so you can invest in something else, like real estate?
Steph and her husband came into $25,000 and aren’t sure what to do with it. Should they pay off their student loans, save it towards a house and starting a family, or purchase her company stock options?
J from California is curious: how do you strike a balance between optimization and simplicity in your financial plan?
Dawn has $65,000 in a 403b through Ameriprise and the fees associated with it are outrageous. Should she take the money out and put it elsewhere, or leave it?
My friend and former financial planner, Joe Saul-Sehy, joins me to answer these five questions. Enjoy!
By Paula Pant
Briana and her husband want to buy a home, but they don’t have enough saved for a downpayment. They also have student loan debt and a car loan. Which should they prioritize?
Javier is sick of being in debt. What can he do to put himself in a better situation?
Tracie wants to buy her first rental property, but she has student loans and a car loan to pay off. If she receives $20,000 from a cash-out refi, how should she use this money?
Vanitha wants to start a non-profit organization in memory of her uncle. She wants to know: what does this process look like?
Margie went under contract on a primary residence listed as a six-bedroom property. She found out that, legally, it’s a four-bedroom home. Should she re-negotiate the price, or ask for credits at closing?
I answer these questions in today’s episode. Enjoy!
By Paula Pant
Lo is in a good spot with her career, but she’s struggling with a ton of student loan debt, and consequently, credit card debt. What should she do to manage it?
Anonymous wants to know how to set up a backdoor Roth IRA.
Eric and his wife own a property in Savannah, GA that brings in more money as an Airbnb than a traditional rental. They want to invest in more properties and are wondering if this model is the best path to take.
James wants to own a vacation rental in the Vermont mountains that he can use when it’s vacant. What features or qualities would make a profitable vacation rental? What red flags should be on his radar?
Ayesha is looking at buying a rental property that has a partial HUD claim on it. What kind of complications should she anticipate? Or should she let this property go completely?
Shelbi and her husband own a rental property that they purchased for $178,000 that’s now valued at $300,000. They’re looking at a multitude of options – sell it, move into it, or keep it. What’s best given their FIRE goal?
By Paula Pant
Katie wants to know how to purchase a business that’s already cash-flow positive. What indicators can she look for?
Rob will retire from the military with an inflation-adjusted pension. Does he need a bond allocation in his investment portfolio?
Brian conquered a large sum of credit card debt, but still has student loan debt and a mortgage. Should he pay off his student loans, refinance them, or refinance his mortgage?
Jeff is curious about the pros and cons of investment apps. When should you use them?
Another Kati (without an e!) wants to live a healthy and wealthy life before she’s 70. Where should she allocate her savings so she can retire early?
We answer these five questions in today’s episode.
By Paula Pant
Deepak is considering downsizing his family’s home, but wants to know if the savings are worth the transaction costs he’ll have to pay.
Anonymous and her husband hold $900,000 worth of privately-owned company stock. How should they plan for handling this money?
Shelby is 25 years old and works for a company that awarded her restricted stock units. What should she do with these? Additionally, she traded in a 2013 Prius for a 2018 Subaru, for which she now owes $19,000. Should she sell it for a used vehicle or stick it out?
Katelyn is interested in learning more about annuities. What should she know in order to make an informed decision?
Max FI and his wife want to retire in 12 years. How should they invest to achieve this?
Anonymous’s former employer offered a Roth and Traditional 401k, and his new employer only offers a Traditional option. How should he rollover his former Roth 401k?
By Paula Pant
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!
