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Tag: saving for kids

August 12, 2019By Paula Pant

#209: Ask Paula – Are Index Funds Unsafe?

Anonymous wants to retire early and often. They’re going overseas, where they’ll make their annual salary within six months. Where should they put their extra income?

Anonymous also wants to know: how can they find a financial advisor they can actually trust?

Another anonymous listener wants to know – is it possible to spend more while minimizing taxes in early retirement?

JuanCarlos asks: is $20,000 too little to invest with a financial advisor?

Angela is wondering how to create a Roth IRA account for a teenager.

Rose is thinking about switching from mutual funds to index funds because it means encountering less fees, but her and her husband are in their 60s. Does this make sense?

Ari has $700,000 to invest in a taxable brokerage account. He wants to know if a 90 percent total stock market index and 10 percent bonds is a good asset allocation.

Dave and his wife want to use their defined benefit plans as their primary income stream in retirement, and supplement with Roth and 457 incomes. Where else should they be saving?

Myself and former financial planner Joe Saul-Sehy answer these questions on today’s episode.

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...

August 20, 2018By Paula Pant

#146: Ask Paula – Where Should I Keep My Money if I Want to Retire Early?

My friend and former financial advisor, Joe Saul-Sehy, joins me to answer a multitude of questions on retirement savings and investing, so let’s dive in.

Elyse has two questions:
#1: Through her job, Elyse has a 401(a) hybrid. Right now, she contributes 0.5% as her employer will contribute 2.5% only when she contributes 4%.

 […]

Keep reading...

July 30, 2018By Paula Pant

#142: Ask Paula – How Can We Downsize from Two Incomes to One?

How can a family of four shift from earning two incomes to one, while still pursuing financial independence?

How would a 55-year-old couple with $2 million saved know if they’re ready to retire?

Can parents use leftover money in their 529 plan to help their daughter with her college loans?

If you start a job […]

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...

March 13, 2017By Paula Pant

#68: Ask Paula – How to Invest Your Tax Refund, Save for College, and Avoid Massive Pitfalls

My buddy Joe Saul-Sehy, host of the Stacking Benjamins podcast, joins me this week for another episode of “Ask Paula (and Joe!)” — in which we workshop through questions that came from you, the Afford Anything community.

This week, Joe and I answer questions such as:

 […]

Keep reading...

January 2, 2017By Paula Pant

#58: Ask Paula – Death, Taxes, Crushing Debt and Moving in with Mom

Happy 2017!

It’s the first Monday of the month (and the year!), and I’m kicking off 2017 with answers to your questions.

Our first question comes from Ashley. She’s a single mom setting aside $150-$200 per month in a savings account for her two-year-old son.

She realizes this money could grow faster elsewhere … […]

Keep reading...

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Afford Anything

  • Start Here
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