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Afford Anything

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Afford Anything

Paula Pant | Cumulus Podcast Network

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You can afford anything, but not everything. We make daily decisions about how to spend money, time, energy, focus and attention – and ultimately, our life. How do we make smarter decisions? How do we think from first principles? On the surface, Afford Anything seems like a podcast about money and investing. But under the hood, this is a show about how to think critically, recognize our behavioral blind spots, and make smarter choices. We’re into the psychology of money, and we love metacogn ...
 
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Amanda is worried that her recently diagnosed health condition might force her to stop working. How should she financially prepare her family? Anonymous is a savvy DIY investor who wants to retire early and is wondering if she should hire a financial advisor. Should Krista tap into the equity from one of her rentals to rebalance a portfolio that is…
 
#413: If an idea dominates the headlines, we notice it. But maybe we shouldn’t. Today’s guest, psychologist and behavioral finance expert Dr. Daniel Crosby, says there’s a difference between a prediction that gets repeated, and one that’s likely to unfold. What’s salient isn’t accurate, he says. And vice versa. He also talks about how money problem…
 
#411: In the final installment of this two-part mini-series, we walk you through becoming a subject matter expert in your investment city of choice. We discuss who you should talk to, where you can find them and what you should talk to them about. Timing of discussion points as of November 2022: 06:11: Who you should talk to 10:09: Why conversation…
 
#410: You face plenty of problems. But you have a scarcity of good solutions. Stanford Professor Jeremy Utley can help. He says that solving complex problems requires creativity. And creativity comes from deliberate practice. It’s not an innate talent. It’s a skill. And it’s useful in any occupation, from accounting to zookeeping. Jeremy speaks and…
 
#409: Liz and her husband are planning to retire in 5 to 10 years. They have rental income properties, but Liz is bored of managing these, and she’s intrigued by the idea of buying stocks at a discount when the market is low. Should she sell her rental properties and use the money to buy stocks instead? Rebecca is a high income earner and thinking …
 
#408: When Kiersten and Julian Saunders began dating in 2012, they fell in love quickly, and their relationship felt strong – until they started talking about money. They broke up as a result of their first money conversation. Luckily, they got back together, figured out how to have tough conversations, and paid off $200,000 in debt over the next f…
 
#407: Ionnie wants to vet her tax professional as diligently as she assesses her financial advisor – how should she go about doing that? Anonymous needs a career change, and she needs help figuring out how to approach the decision making process when choosing and preparing for her next field of employment MM prefers the simple path to wealth and in…
 
#406: In this two-part episode, we first tackle the data points needed to assess various investment locations within your city of choice. We will cover seven specific neighborhood characteristics to review before diving into deal finding, and three things to look at once you've found a specific deal to evaluate. Then, we interview Kristen Lazure, t…
 
#405: Daniel and his wife want to go on an extended vacation and leave their jobs next year…and still have money in case there’s a problem at their rental properties. Would a HELOC help them? Anonymous and her husband have received a large commission and want to understand how to better plan for their future by optimizing for these inconsistent win…
 
#404: When Rand Fishkin was 25 years old, he carried $500,000 in credit card debt. Less than a decade later, Rand was the Founder and CEO of a company that grossed $35 million in annual revenue. In this episode, Rand shares the story of hitting his financial rock-bottom and making the ultimate comeback. Learn more about your ad choices. Visit podca…
 
#403: September Sabbatical continued! If you’ve been listening to the show for the past few years, then you know that we’ve entered our September Sabbatical, where the team takes a break from podcast production and airs a few of our favorites from the 400+ episodes we’ve aired to date. F.I.R.E. holds four pillars: Financial psychology, Investing, R…
 
#402: Do you wrestle with the idea of leaving your savings in an account earning next to nothing versus investing it in the stock market? Do you use investment strategies that allow you to work with your nature, rather than against it? Are you careful to seek investment advice from those who share your investment goals, or do you get caught up in t…
 
#401: It’s September! If you’ve been listening to the show for the past few years, then you know that I’m on what I’ve dubbed my September Sabbatical, in which I’m taking a break from podcast production. F.I.R.E. holds four pillars: Financial psychology, Investing, Real estate, and Entrepreneurship. This September, we’re running four weeks of episo…
 
Today we’re sharing three talks given at the EconoMe conference, with each of these talks relating to F.I.R.E. The three discussions are: FI-Landia is a lie - What I Learned On My Journey To F.I.R.E., with Carl Jensen What If You Achieve All Your Goals But You’re Still Not Happy, with Rich Jones How To Never Again Say, “I Can’t Afford It”, with Pau…
 
#399: Bella is SO CLOSE to reaching F.I.R.E and is worried about her withdrawal rate if the stock market drops. If the stock market does drop, can she withdraw as much as she had originally planned? Sam has been investing for several decades and thinks that he should stay invested in his portfolio, despite the recent drop in value…but he is still w…
 
#398: Chris Hutchins is an avid life hacker, a financial optimizer and the host of the top ranked podcast “All The Hacks”, where he shares his quest to upgrade his life without having to spend a fortune. These passions have led him to being featured in a documentary on financial Independence called “Playing with FIRE” and collecting millions of poi…
 
#397: Nic’s parents are forced to confront earlier than anticipated retirement…and they aren’t financially prepared. Now, a bank is offering to buy a part of their mortgage or a part of their house. Is this a scam?! Jon from Colorado is curious about after tax contributions to a Roth 401k, and would like us to talk about why we wouldn’t recommend i…
 
#396: International best selling author and leadership speaker, Julie Winkle Giulioni, talks through a multidimensional career framework that features eight dimensions of career development. She spells out how to apply the dimensions of contribution, competence, connection, confidence, challenge, contentment, choice and climb to different parts of …
 
#395: Welcome to Invest Anywhere, our monthly series on long-distance real estate investing. Invest Anywhere airs on the First Friday of each month and is co-hosted by Paula Pant and Suni Rao. In this episode, we tackle the challenging decision of how to evaluate a city for rental property investment. We will cover three specific sets of analysis, …
 
#394: Bill listened to our episode with Bill Bengen, father of the 4% rule, and he wants to know if there was a way for him to figure out how much money he should be keeping in cash. Sheryl gets stock from her company, and she would usually sell it…but the stock value has decreased. And now, she isn’t sure what she should do. Heather inherited an I…
 
#393: Chuck Jaffee is a forty year veteran financial journalist who regularly writes for the Wall Street Journal and is also a nationally syndicated financial columnist. He discusses how money and investors' attitude towards investing has changed over the last few decades. 00:44: Introducing Chuck Jaffe 03:05: How people interacted with the market …
 
#392: Colleen and her husband own SEVEN paid off rental homes. Now they’re heading into retirement and disagree on what to do with some of that equity. Kevin wants to hit FIRE (Financial Independence, Retire Early) and believes his motivation comes from witnessing the financial trauma of the Great Recession. He’s wondering if others are motivated t…
 
#391: Dr. Reza Abraham, an international leadership consultant, walks us through a framework of staying in control of your career and your life. This framework utilizes a singular core, three cornerstones and twelve principles. He explains how to apply and execute these principles to reinforce personal fulfillment, growth and progression. 0:00:47: …
 
#390: We start this episode with two anonymous callers who have opposite problems: one says her bills are too high, while the other is worried that she’s saving too much. Anonymous (“Izzy”) saves A LOT. She wants to relax about her spending more, and start including more joy into her life. How should she approach the next 10 or 20 years, so that sh…
 
#389: Should you bother investing in real estate … especially from a distance? Is the hassle worth it? What’s the upside? Do you really want this? Or should you just stick with index funds? Isn’t it scary to invest out-of-state? How do you know if you’re ready? In today’s episode of Afford Anything Presents: Invest Anywhere, my co-host Suni Rao and…
 
#388: Recessions are terrifying. Market crashes often bring out the worst in people’s anxieties and fears. This fear triggers us to act even more irrationally than usual – which can lead to making expensive mistakes in our investment portfolios. In today’s episode, Scott Nations, who spent his career studying market volatility, describes some of th…
 
#387: Lila is concerned about inflation and the risk of a recession. Should she invest in the stock market, despite the scary headlines? Or should she pay off her primary residence or her investment properties? Linda invested in a 529 for her son’s college, and he’ll be starting in the fall. But, the value of the plan dropped right before she was p…
 
#386: We all have our secrets. We keep some secrets from bosses, colleagues and clients, like the fact that we hope to retire early, change careers, or start a business. We keep other secrets from friends and family, like our income, net worth, spending habits and investing mistakes. Research from around the world shows that we tend to keep the sam…
 
#385: Anonymous (“Jennifer”) keeps hearing us say that you should “start with the end in mind” – that your investments should match your goals and timeline. But what if you don’t have any specific financial goal? What if your risk tolerance is different than you once thought? Rachel’s new employer won’t let her contribute to retirement for more tha…
 
#384: Welcome back to the third episode in our special series, Afford Anything Presents: Invest Anywhere. Invest Anywhere is a new monthly series that runs on the First Friday of each month. It lays out the information you need to invest in real estate at a distance. Many of you want to invest in real estate, but you live in a high-cost-of-living a…
 
#383: Behavioral researcher Vanessa Van Edwards, who runs the research lab Science of People, breaks down the psychological secrets behind feeling and looking more confident, competent and charismatic. She explains how to apply these techniques to critical conversations around money, whether you’re negotiating your salary, buying a home or car, or …
 
#382: Joe is buying his first house hack and would like to understand if the FHA loan or the doctor loan would be better for him. Sara wants to leave her job to spend time with her children, and she needs help in calculating her FIRE number. Kat received a windfall and is wondering if she should invest it in stocks, real estate, or a combination of…
 
#381: Maybe you’re envious of your friend who bought Bitcoin in 2015 and held until it hit 7-figures. Maybe you’re anxious about rapidly rising home prices. Maybe you regret that you didn’t buy a rental property five years ago, because – at the time – you felt like prices had already risen so much (from 2012 to 2017) that you just couldn’t justify …
 
#380: Matt wants to optimize his portfolio and wants to know if he should invest along the Efficient Frontier – despite the fact that the asset allocation it recommends is absolutely bonkers; it’s wild and risky and tilted like nothing he’s ever seen before. Ionnie just rolled over her Roth IRA and would like to understand how to withdraw her contr…
 
#379: Welcome to our First Friday bonus episode. Once a month, Afford Anything presents a special feature called Invest Anywhere, in which we teach our audience how to invest in real estate from thousands of miles away. We kickoff today’s episode by discussing current market conditions. Yesterday the Fed raised interest rates by another 50 basis po…
 
#378: Anonymous is 25. She has a job offer that comes with a substantial raise. Hooray! Buuut … there’s a problem. If she accepts this job offer, her new employer won’t allow her to contribute as much money to her company retirement accounts. How should she think about the trade-off between increasing income and funding her retirement? Meanwhile, D…
 
#377: Today’s episode is sheer retirement nerd bliss. We talk to the creator of the 4 percent retirement safe withdrawal rule, Bill Bengen. If you’re new to retirement planning, you might not yet grasp the gravity of this. Let’s cut to the chase: the 4 percent rule is one of the most revolutionary, groundbreaking insights in the field of retirement…
 
#376: Meghan’s mom is 64 years old and suffering under a toxic boss. It’s tough to switch jobs at her age. How should she think through the next steps? Ellen has a 20-year-old son with physical and developmental disabilities. Her other child, age 21, will need to look after him for the rest of their lives. How should she handle their inheritance? J…
 
#375: Here’s the deal: The majority of people who write about personal finance repeat the same tired aphorisms and cliches. “Millennials aren’t investing enough,” they’ll lament. “Millennials are amassing wealth at a slower pace than previous generations!” But when you ask for their source, they turn up blank. Each writer points to a headline, whic…
 
#374: Andy in Palm Springs wants to create an income stream through a taxable brokerage account. What strategy should he use to minimize the tax impact of withdrawing his gains? Jake wants investment cash flow until he’s eligible for his military pension in 10 years. Should he buy small multifamily properties right now, wait a few years and invest …
 
#373: How do people make money in real estate? Many focus on rental income, but this is only one of five ways that properties create wealth. We explain five surprising ways that real estate builds your balance sheet: cash flow, appreciation (market-based and forced), tax benefits, principal paydown, and instant equity at closing. Why does this matt…
 
#372: Eve has been investing in her brokerage account and the tax liabilities are starting to add up. She wants to retire in 12 years and is wondering if she should invest in after-tax contributions and plan on a Roth conversion. Anonymous has rental properties and wants to start building his kids credit histories. Is it a good idea to add them as …
 
#371: Psychology professor Bill von Hippel explains the evolutionary science behind how we’re hardwired as humans. We’re wired to be social, to connect, to communicate and cooperate. We’re wired to want to learn and teach, to build a collective body of knowledge that stretches beyond what any single individual could ever learn in their lifetime. We…
 
#370: Kristen is 32, and she and her husband want to retire in less than 20 years. They make too much to contribute to a Roth IRA. Should they use back door Roth conversions to speed along their path to early retirement? Michelle makes $190,000 and is going to switch to a career that pays $40,000 on average. To prepare for this lower salary, she's …
 
#369: To answer these questions, we need a deep, tree-trunk understanding – a core, fundamental understanding – of how the stock market operates. What, exactly, IS a stock – and how are stocks valued? What’s the difference between the Dow Jones, the S&P 500, and the Nasdaq? Why is the market a voting machine in the short-term, but a weighing machin…
 
#368: Grace wants to buy a manufactured home for rental income. Should she calculate her returns differently for a manufactured home? Alex is curious about cryptocurrency. How should she analyze the returns promised by different platforms and where can she go to learn more about crypto in general? Thomas and his wife have parallel goals of saving f…
 
#367: Since the start of the Covid-19 pandemic, many commentators have remarked that we’re living in an “epidemic of anxiety.” More than 40 million Americans suffer from anxiety, and countless millions more notice themselves “acting out” against their responsibilities in smaller, self-sabotaging ways: procrastinating, lacking motivation, grappling …
 
#366: Micheal’s parents just sold their home to pay off debt and fund their retirement. How should he invest the profits? Ryker would like to understand what it would take for cryptocurrency to be considered as a good investment option for a diversified portfolio. Megan has qualified for her employer's 401k and needs help deciding between investing…
 
#365: Nearly every financial news story for the past several months has centered around inflation – but what, exactly, is inflation? What are its causes? What are its effects? How is it measured? What notable inflationary events have unfolded throughout history, and what can we learn from these? In this episode, we peel back the layers of the onion…
 
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