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Tag: roth IRA

February 11, 2019By Paula Pant

#177: Ask Paula and Joe: Should I Buy a House or Catch Up on Retirement Savings?

Imagine that your job is extremely well-paying, but you don’t enjoy it.

You’d like to switch employers, even though this will probably require a paycut. But before you make the switch, you want to accomplish two goals: buy a home and catch up on retirement savings.

Should you pursue both goals? Or should you defer the home purchase, given the potential future paycut?

If you decide to pursue both goals, which one should come first?

This is one of the five questions that former financial planner Joe Saul-Sehy and I answer in this week’s podcast episode.

Keep reading...

January 14, 2019By Paula Pant

#172: Ask Paula – Should I Buy a Nice Car or Save My Money?


Should a 25-year-old homeowner with healthy savings and no debt (other than his mortgage) upgrade his car? Should he make this choice if his current car is fine, and upgrading puts him into new debt?

Should a couple without access to an employer-sponsored retirement plan put their savings into a taxable account, or should they save for a downpayment on a rental property?

The market is fluctuating like mad; if someone has a lump-sum of cash, should they invest it now or should they slowly meter it in?

Should someone without an emergency fund enroll in an HSA-qualified health insurance plan? Or should they stick with a plan that has a smaller deductible?

How should a husband-and-wife team that’s self-employed and running a company together handle their health insurance?

Former financial planner Joe Saul-Sehy and I answer these five questions on today’s podcast. Enjoy!

Keep reading...

November 2, 2018By Paula Pant

#159: Ask Paula – I Have Three Kids and I’m Hoping for Financial Independence

Should a 36-year-old father of three invest primarily in Traditional or Roth retirement accounts? Should Rose, a grandmother of four, open a Vanguard account for each of her grandchildren?

Should Nancy, who lives overseas and is the sole breadwinner in her family, invest in a Traditional or Roth TSP?

Should Scott’s wife rollover her 403(b) from her former employer into an IRA?

Should Patrick, age 35, cancel his life insurance plan?

Former financial planner Joe Saul-Sehy and I answer these five questions in today’s episode.

Keep reading...

May 7, 2018By Paula Pant

#128: Ask Paula and Joe – Should I Choose a Roth vs. Traditional IRA and 401k for Early Retirement?

​

Antonia, 27, wants to retire in 15 years. She’s trying to figure out whether to contribute to pre-tax or after-tax retirement accounts.

Most financial advice for 20-somethings that she’s encountered says to contribute to after-tax (Roth) retirement accounts. These articles assume that a 27-year-old will continue earning money for the next 30+ years, presumably […]

Keep reading...

September 11, 2017By Paula Pant

#94: Ask Paula – The Early Retirement Episode

Early retirement? Yes please.

This week, I answer questions from the audience around early retirement planning, health savings and debt pay-off.

Question #1: How can I avoid early-withdrawal penalties?

Our first caller is Christianna, who asks two questions:

I’m interested in early retirement. How can I avoid early withdrawal penalties? How does early retirement impact the […]

Keep reading...

July 31, 2017By Paula Pant

#88: Ask Paula – When is Lifestyle Inflation a Smart Business Decision?

This week, former financial planner Joe Saul-Sehy and I answer 4 questions from the Afford Anything community.

We chat about how to control lifestyle inflation, how to break up with a financial planner, how to invest your first $10,000, and whether or not sector-specific or theme-specific funds are a good idea.

#1: Laura is transitioning […]

Keep reading...

July 3, 2017By Paula Pant

#84: Ask Paula – No, Really, I’m Asking for a Friend! — How to Crush $500,000 in Debt

This week, I tackle your questions with my good friend, recovering financial planner Joe Saul-Sehy. Here’s what we answer:

1. I’m asking for a friend — no, really, I’m asking for a friend!

My friends are married and buried. They’re a married couple, buried in $500,000 of debt.

Some is federal student loans, some is […]

Keep reading...

October 3, 2016By Paula Pant

#45: Ask Paula – Should I Invest $5,500 in One Huge Chunk? – and More Investing Questions

Podcast listener Eva is interested in opening a Vanguard account. She noticed that people need $50,000 to access their personal advisor services. It’ll take her several years before she can access this. What should she do in the meantime?

Amy, another podcast listener, wants to invest $5,500 into her Roth IRA in 2017.  Should […]

Keep reading...

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Afford Anything

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