Afford Anything | Make Smart Money Choices

#272: “Anonymous Moving-Back-home” and her partner earn $150,000 per year after taxes. They’re currently saving 80 percent by living with family. What should they do with their savings? Leigh and her husband are three years away from retirement. They have an extra $50,000 in income this year and plenty of options for where to invest this money. Which one is the best? Kelsey doesn’t feel comfortable investing in total stock market index funds and would rather invest in ESG funds. How can she tell if she has the necessary $2,000 invested in a company to submit a proposal to participate in a proxy voting? Also, Vanguard has a poor history of supporting shareholder resolutions. What can we do about this? Dylan and his wife rolled her 401k into a rollover IRA with pre-tax contributions. They’ve continued contributing to this IRA with post-tax contributions. Should they separate the accounts, or can they worry about this when they’re ready to retire? Anonymous wants to buy and househack one duplex every year to achieve financial independence and leave his office job within the next three to four years. Is his plan realistic? Former financial planner Joe Saul-Sehy joins me to answer these questions on today’s episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode272 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Millions of people are in financial limbo now that the $600 supplemental federal unemployment benefit has expired. The new $300 supplemental benefit is slooowly getting approved by FEMA, state-by-state, through an excruciatingly snail-like process, and you might not have time to wait. This episode will help you take action. We cover how to think about the ways in which you can earn extra income and decide which path is best for you. For more information, check out our guide at https://affordanything.com/extraincome Learn more about your ad choices. Visit podcastchoices.com/adchoices

#271: Dr. Wade Pfau, one of the foremost experts in the academic field of retirement planning, joins us to talk about how the events of 2020 might impact your retirement plans. If you’re wondering if you need to change your investing strategy, Wade’s recommendations may fascinate you. Watch out! These are NOT the recommendations you’re expecting from a typical financial independence retire early show. Prepare to be caught off-guard by what he says. For more information, visit the show notes at https://affordanything.com/episode271 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#270: 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! For more information, visit the show notes at https://affordanything.com/episode270 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#269: Are you scared to take the first step toward the habits that you want to build? Do you believe in your ability to change? Or are you completely lost as to where to start? Charles Duhigg, the Pulitzer Prize-winning journalist, author of the best-selling books The Power of Habit and Smarter Faster Better, and host of the How To! podcast, joins us to tackle these questions. By asking “why” instead of “how,” layer-by-layer we can reveal the factors that truly hold us back from taking action. For more, go to https://affordanything.com/episode269 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Do you have school-age children? If so, then brace yourself for a school year like no other. This year, some children will return to school five days a week. Others will learn from home five days a week, and yet others will experience a hybrid of the two. You and your kids may face wildly different schedules and challenges than anything you've encountered before. How can you cope with this? Mandy Bert and Rob Phelan, who both work as teachers and are on the K-12 Education Team at the ChooseFI International Foundation, join us to share tips to help your children - and you! - survive the school year. For more information, visit the show notes at https://affordanything.com/psathursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

#268: Natasha has $3,300 per month to either invest or use toward an early mortgage payoff. Which option should she choose? An anonymous caller and military member wants to know if she should move money from a USAA brokerage to Vanguard to pay less in fees. Her goal is to retire in 12 years with $3,000/month in passive income from rental properties, which will supplement her military pension. Should she only contribute to her TSP up to the match, and invest the rest in rentals? Chaim and his wife live in the Middle East and have $30,000 in a U.S. bank account. However, they don’t plan to relocate. How can they best use this money? June and her husband are in a sticky situation: they bought their dream house in Michigan last winter, ahead of plans to relocate there. June lives there with their kids, but her husband is unable to find a job despite the numerous contacts he has in the state. He currently works in a job that he dislikes in Southern California, living apart from his family. They’re currently a one-income family, though June has plans to open a firm in Michigan. What should they do? Anonymous in Portland has three questions: is a 75/25 US stock/international stock split aggressive? Is an S&P 500 index a close enough equivalent to a total US stock index? Is Betterment worth it for automatic tax harvesting? My friend and former financial planner Joe Saul-Sehy joins me to answer these questions. Enjoy! For more, go to https://affordanything.com/episode268 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Welcome back to PSA Thursday, a mostly-weekly segment (sometimes on Thursdays) in which we talk about how to handle money, work, and life in the middle of a pandemic. This week, we continue the conversation on what landlords can do to create and maintain open lines of communication with tenants. Doing so can help you avoid a situation in which your tenants ghost you. If you find these tips helpful, head to https://affordanything.com/psalandlord to download word-for-word scripts you can use with your tenants. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#267: This week, one of the most acclaimed names in the world of personal finance journalism joins us to reflect on the events of 2020. Farnoosh Torabi started covering personal finance in 2003 as a reporter for Money Magazine. She later became a correspondent for Jim Cramer's The Street and the host of CNBC's primetime show Follow the Leader. She's the host of the award-winning So Money podcast and the author of several bestselling personal finance books, including When She Makes More: 10 Rules for Breadwinning Women. She's a contributing editor to NextAdvisor, a personal finance platform in partnership with TIME, as well as a financial columnist to O, The Oprah Magazine and a contributing editor for Bloomberg Business. She joins us to discuss how the events of 2020 have led to a great financial reckoning. You'll enjoy this if: - You want to hear candid discussion about race, privilege, and the wealth chasm - You're curious to hear about how the personal finance landscape has changed in the last two decades - You're wondering if, in fact, "this time it's different" For more information, visit the show notes at https://affordanything.com/episode267 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#266: Paul’s parents own a property worth $100,000, and they owe $80,000 on the mortgage. If he wants to buy this property from them, how should he do it? Max is torn between investing in a rental property or taking advantage of a mega backdoor Roth 401k through his company. Which is the better option? Ali is a travel nurse and wants to get into real estate investing. Should she buy a duplex that needs fixing up or a cheaper apartment that’s rent-ready? Kate and her husband own a townhome that has appreciated substantially, but they need a bigger house. They’re wondering: is it wise to keep it, rent it out, and use a cash-out refinance as a downpayment on their next property? I answer these questions on today's episode. Enjoy! For more information, visit the show notes at http://affordanything.com/episode266 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Welcome back to PSA Thursday, a mostly-weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic. This week, our focus is on answering a question that many landlords in our community have asked in recent months: what do we do when our tenants can't pay the rent, and our bills are due? To answer this, we asked Alieza Durana, a journalist who works with the Eviction Lab at Princeton University, for her expertise. The Princeton Eviction Lab is a group that rigorously researches the causes and consequences of the affordable housing crisis, housing instability, and the impact of evictions. Alieza shares data gathered from The Eviction Lab and offers tips for landlords who want to be part of the solution, but struggle with the reality of having their own bills to pay. For more information, visit the show notes at https://affordanything.com/psathursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

#265: Are you the same person you were five years ago? Ten years ago? Fifteen years ago? Of course not. Things in your life have changed: your interests, hobbies, decision-making process, and habits are different than they were a decade ago. Likewise, our personality changes -- and this means we can decide who we want to become. Today’s guest, organizational psychologist Dr. Benjamin Hardy, literally wrote the book on personality impermanence. During this episode, he shares research on why our personalities aren’t as fixed as we think they are and the strategies we can use to change. Dr. Hardy is the bestselling author of Willpower Doesn’t Work and Personality Isn’t Permanent. He’s a contributor to Inc. and Psychology Today. From 2015-2018, he was the number one writer on Medium.com. If you want to rise to the level of your goals, rather than fall to the patterns of your past, this episode is for you. For more information, visit the show notes at https://affordanything.com/episode265 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Welcome back to PSA Thursday, a mostly-weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic. This week, we focus on life and staying safe when venturing outside of your home. Many of us are concerned with reducing the risk of coronavirus infection in places like grocery stores, gas stations, or backyard BBQs, but the guidelines on how to stay safe aren't always clear. In this episode, we discuss specific precautions to take... When using a public toilet When picking up food at a quick-serve restaurant When you're exercising at the gym When filling your car with gas In your general day-to-day life when you're out and about For more information, visit the show notes at https://affordanything.com/psathursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

#264: An anonymous listener, whom we call “Mary,” is curious about the auto-rebalancing feature offered by M1 Finance. Is it too good to be true? J isn’t happy with the target date retirement fund she chose for her 401k. She has limited options and is wondering: should she move funds around? If so, is now a bad time, considering the market volatility? Another anonymous listener is wondering how to choose the right mix of investments for a retirement portfolio. She also wants tips on rebalancing a portfolio. And when should she execute a Roth conversion? Tami has $160,000 in a G fund in her TSP. Should she move this money to a Lifestyle fund to increase her earnings? Andy and his wife contribute the maximum to their children’s 529 accounts, and they have three investment options to choose from. Should they continue with an aggressive managed portfolio, or choose something less risky? My friend and former financial planner Joe Saul-Sehy and I answer these questions on today’s episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode264 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Here's the sordid history of the Payroll Protection Program, plus four additional options for getting pandemic relief as an entrepreneur. In this episode we share the following resources for small businesses: Economic Injury Disaster Loans (EIDL) Employee Retention Credit. SBA 7(a) Program Mainstream Lending Program For more information, visit the show notes at https://affordanything.com/psa-thursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

#263: It’s been a tough year, and we’re only halfway through it. Today’s guest has insights and actions to help you build financial resilience in 2020. Not only will you emerge from the events of this year stronger, you’ll also face future personal challenges and economic downturns with more confidence and knowledge. Our guest is Dr. Brad Klontz, a clinical psychologist and Certified Financial Planner. He’s the author of five books on the psychology of money, a founder of the Financial Psychology Institute, a managing principal of Your Mental Wealth Advisors, and a fellow of the American Psychological Association. He’s also a former associate professor of personal financial planning at Kansas State. Dr. Klontz appeared on our show in April 2018 to discuss unhealthy attitudes towards money. We invited him back for his expertise on coping with recent situations and developing financial resilience For more information, visit the show notes at https://affordanything.com/episode263 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#262: Tyson is taking a year off of work and plans to devote some of his time to domestic travel, volunteer work, and bolstering his rental property portfolio. He originally planned to travel internationally, but won’t due to the pandemic. How does this plan sound? Jace is wondering whether she should take advantage of the low stock market prices or keep a larger emergency fund due to the pandemic. Which is the better option, given her goal of financial independence? Jace also wants to know: where do you park your money after maxing out a 401k and Roth IRA? Venkat had to relocate after living in a condo for one year. He rents out the condo, but he’s in the red. Should he sell this condo? If so, when? TW has $250,000 in cash that he can use to either pay off his rental property or purchase two more properties. Which is the better option? For more information, visit the show notes at https://affordanything.com/episode262 Learn more about your ad choices. Visit podcastchoices.com/adchoices

For more information, go to https://affordanything.com/tag/psa-thursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

#261: I quit my job at the beginning of a recession and made it work. Two years ago, I did an interview with Lessons From a Quitter explaining how. Given that so many community members want to leave their jobs for something better in the future, whether it's freelancing, self-employment, or early retirement, I'm re-airing the interview. I hope my story sheds light on what's possible in the most inopportune times. For more information, visit the show notes at https://affordanything.com/episode261 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Welcome back to PSA Thursday, a mostly-weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic. In this episode, we cover how to manage student loans in the midst of the pandemic with Travis Hornsby, a Chartered Financial Analyst and the founder and CEO of Student Loan Planner. He's an expert in the complex topic of student loans. Travis shares deep insights into the changes that have occurred, and how those changes might alter the way you think about and manage your student loans going forward. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#260: Katelyn wants to fire her financial advisor and move her investments from mutual funds into Vanguard index funds. Should she do this during the pandemic? Or should she wait? Marisa asks: can you invest in a Roth IRA if your income is inconsistent and might exceed the cap? Anonymous Moving-for-a-New-Job had a Simple IRA at her old job that she can no longer contribute to. She also can’t contribute to a 401k until she’s been at her new job for a year. Where should she put her money in the meantime? Anonymous “Olivia” is interested in a Roth conversion ladder, but wants to know: does the pro-rata rule apply here as it does with a backdoor Roth conversion? Mary received an $80,000 grant of RSUs from her employer when she started. These RSUs began to vest after one year, and the price per share has increased 44 percent. What should she do with the shares? My friend and former financial planner Joe Saul-Sehy and I tackle these questions in today’s episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode260 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#259: Leadership comes in all forms. Whether you’re a small business owner, a manager or department head at work, or the head of a volunteer organization, having a crystal clear vision is critical to success. Without a clear vision, you’re likely to stumble along a path that leads to nowhere -- or worse, a dead end. Wouldn’t it be better to have an idea of where you’re going? Michael Hyatt, a prolific bestselling author on the topics of business and leadership, shares the pitfalls of not having a vision and 10 ways to nail down a solid vision that will lead you to the path you want to be on. Check out bonus resources: http://visiondrivenleader.com/afford Learn more about your ad choices. Visit podcastchoices.com/adchoices

We have muted the podcast thusfar this week, in support of the #amplifymelanatedvoices movement and in support of the #theshowmustbepaused movement. We have assembled a list of resources that highlight books, websites, podcasts, nonprofit organizations and GoFundMe campaigns that I would like to direct your attention to in lieu of our normal programming. These resources can be found at https://affordanything.com/psathursday We are also matching $3,000 in donations to the Committee to Protect Journalists, the Atlanta Community Food Bank, and the Children's Development Association. Please DM me on Instagram with a screenshot of your donation and I'll match it. Instagram: paulapant Learn more about your ad choices. Visit podcastchoices.com/adchoices

Let's start with the good news: the majority of U.S. households, 6 in 10, donate money to nonprofits and charities, and 1 in 4 adults in the U.S. volunteer their time and talent. The only way our society is going to get through the struggles and the stresses that we face is if we are good to each other. Compassion and common humanity are crucial. In this PSA episode we discuss strategies around giving, including how to donate money and volunteer time effectively, as well as how to embrace the opportunity to practice informal, random, spontaneous acts of kindness. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#258: “Burned Out in Boston” wants to reach financial independence. But she’s not sure she can stick it out in Boston much longer. She and her husband want to move to an area that doesn’t have many job prospects, and they want to make this leap soon, ideally before they reach FI. How do they know when it’s the right time to jump ship to their dream location? We tackle this topic, plus four other questions about stock market and real estate investing strategy, on today's Ask Paula episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode258 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#257: “The checking account is like the trash can of personal finance.” Today’s podcast guest, the famed behavioral economist Dr. Dan Ariely, is not a fan of checking accounts. Or supermarket end caps. Or anything that distracts us from our financial goals. In this episode, he explains why. Dan Ariely is one of the world’s most renowned behavioral economists. He’s the James B. Duke Professor of psychology and behavioral economics at Duke University. His TED Talks have been viewed more than 15 million times. In 2018, he was named one of the 50 most influential living psychologists in the world. He’s the New York Times bestselling author of many books, including Predictably Irrational, a book that challenges our assumptions about our ability to make rational decisions. He also wrote Dollars and Sense, a book about our cognitive biases, and The Honest Truth About Dishonesty, a book about how we lie to everyone, including ourselves. For more information, visit the show notes at https://affordanything.com/episode257 Learn more about your ad choices. Visit podcastchoices.com/adchoices

How can you find business and investment opportunities in today’s tough pandemic bear market? What should you do to emerge from 2020 stronger than you started? We cover 7 specific, immediate actions that can set you up to succeed in this recession. Here's a peek: think about hiring a team, create an original piece of work, take online classes, and keep your plans intact (even if that means quitting an unfulfilling job). For more information, visit the show notes at https://affordanything.com/psathursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

#256: Jon is wondering if now is a good time to move his RRSP into a tax-free savings account, given the market downturn. He knows you can’t time the market, but the opportunity is tempting. What should he do? Laurel’s question revolves around the CARE Act and early withdrawal from a 401k. She needs to rebalance her 401k and wants to buy a rental. Instead of selling stocks, should she sell bonds as a form of rebalancing and to withdraw for a rental property? After seeing so many businesses experience financial hardship, Rebecca and her husband are curious: why don’t companies have emergency funds? Salome sees the stock market downturn as an opportunity for tax-loss harvesting, but does this hold if you’ve held stocks for less than a year? Sheena has the option to purchase company stock at a 15 percent discount through an Employer Stock Purchasing Plan. However, it’s volatile right now. Should she contribute the maximum amount, or nothing? My friend and former financial planner Joe Saul-Sehy joins me to answer these questions. Enjoy! For more information, visit the show notes at https://affordanything.com/episode256 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Before the pandemic, the U.S. housing market was strong. Home prices were at historic highs. Borrowers were more qualified than ever, with two-thirds of mortgage originations going to borrowers with excellent credit. As of January 2020, delinquencies (borrowers more than 30 days late on a payment) reached a 20-year low. How has the pandemic affected the market? Are we due for another spate of foreclosures? What's going to happen to housing supply? What about demand? Are buyers still buying? Are sellers still selling? And if you're thinking about buying a home -- either as an owner-occupant or as a rental property investor -- what do you need to know about the new pandemic landscape? We dig into depth in this short, researched-packed PSA Thursday episode. For more information, visit the show notes at https://affordanything.com/PSAThursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

#255: When a crisis hits, do you stay calm and collected, or do you launch yourself down a rabbit hole of worry and worst-case scenarios? When the stock market spirals downward, do you shrug and stay the course, or do warning bells explode in your brain? When news of the pandemic hit, was your first instinct to form a calm and reasoned action plan, or rush to the store to buy months of supplies? Your personality influences your reactions to these scenarios. Today’s guest, Dr. Sarah Stanley Fallaw, has a Ph.D. in applied psychology and is the founder of DataPoints, a research firm based on the science of building wealth. What links between personality and money management has research uncovered? We discuss this topic in today’s episode. For more information, visit the show notes at https://affordanything.com/episode255 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#254: Lydia earns income as both a 1099 contract worker and a part-time W2 employee. She filed for unemployment as a W2 worker, but can’t find information on how to file as a contractor. Is there a process contractors can follow to file for unemployment? Florina and her husband have $70,000 in cash to invest. Where should they put this money in light of the current market? Ali and his wife saved eight months of living expenses in their emergency fund in case they get laid off during the pandemic. Is this too excessive? Danielle wants to take advantage of pandemic stock prices - what should she invest in? Anonymous in Real Estate wants to buy a multifamily property with the equity in their first rental as a downpayment. Their husband doesn’t want three mortgages. Should they accelerate mortgage pay-down and be one mortgage down in four years? I answer these five questions in today’s episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode254 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Welcome back to PSA Thursday, a segment in which we talk about how to handle money, work, and life in the middle of a pandemic. Today, our focus is on money - specifically, the stock market. Why did it crash in March? What effect did that have on us as a society? Why has it rebounded in the middle of a shutdown, and what does that mean? Are valuations too high relative to earnings? How can we handle our investments and retirement savings at a time when the movements of the market seem irrational and unpredictable? We explore these questions in today's episode. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#253: Dr. Steve Wendel is a behavioral economist and the head of behavioral science at Morningstar, an independent investment research firm. Samantha Lamas is also a behavioral researcher at Morningstar. They discuss the hidden biases in our decision making and how these hidden biases affect us - particularly during this pandemic and during times of high anxiety and stress. They also discuss techniques that will help us avoid deceiving ourselves. For more information, visit the show notes at https://affordanything.com/episode253 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#252: The government issued a $2 trillion stimulus. How will that affect the economy? Could we endure massive inflation or hyperinflation? Bradley kicks off today’s Ask Paula episode with this timely question. What inflation rate will we see in 2020, and how can we prepare? How should we hedge against hyperinflation? Anonymous Retiree (whom we call Sequencing Sally) is 64 and retired last year. She lives off of monthly withdrawals from a Vanguard portfolio. Given the bear market, should she leave her portfolio alone and spend from an emergency fund? Additionally, her target allocation is off-kilter. Should she rebalance now or later? Jay wants to reach financial independence in five years, but she’s in a job that will pay her $270,000 student loan balance if she stays there for another 17 years. Should she stay, or quit and face the balance? Jan has $500,000 in a managed fund with a three percent annual fee. He wants to move his funds into his Vanguard personal brokerage account, without incurring a ton of taxes from the sales of his holdings. How can he accomplish this? My friend and former financial planner Joe Saul-Sehy and I answer these questions in today’s episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode252 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Download the 31 Tips to Stay Productive as you Work From Home at https://affordanything.com/productive Learn more about your ad choices. Visit podcastchoices.com/adchoices

#251: Do you love the idea of making money on your own -- without a boss? Can you imagine deciding how you spend each day? Are you bored and looking for a challenge? Do you love the thought of adventure? Today’s guest, Chris Guillebeau, knows all about hustling, living an unconventional life, working towards seemingly impossible goals, and combining his interests into an epic lifestyle business that brings him freedom and joy. Chris is the New York Times bestselling author of The Art of Non-Conformity, The $100 Startup, and The Pursuit of Happiness. He has traveled to 193 countries, served four years as a volunteer on a hospital ship in West Africa, and is a successful speaker, writer, and entrepreneur. Oh yeah, and he’s a high school dropout. (A super accomplished high school dropout.) How did Chris accomplish so much without a high school degree? How did he forge a path toward his goals despite depression and anxiety? What advice does he have for aspiring side hustlers and entrepreneurs? Find out in today’s episode. For more information, visit the show notes at https://affordanything.com/episode251 Learn more about your ad choices. Visit podcastchoices.com/adchoices

A weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic. Here's how to build an emergency fund during an emergency, and how the bear market affects your investment strategy. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#250: Should we invest in sustainable funds? If we choose sustainable funds, will our investment returns suffer? Will our expense ratios be sky-high? What drawbacks might we face? How do we know that these funds are actually ethical? And what choices are out there for people who want to invest ethically or sustainably? We invited Dr. Jon Hale to our show today to answer these questions. Dr. Jon Hale is a chartered financial analyst and the global head of sustainability research for Morningstar. He directs Morningstar’s research on sustainable investing, which launched with the Morningstar Sustainability Rating for Funds in 2016. For more information, visit the show notes at https://affordanything.com/episode250 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#249: I’m recovering from Covid-19 at the moment, so I couldn't put together a new episode this week. But in honor of the First Friday of the month, I wanted to re-air this interview with Cameron Huddleston, which we originally aired in August 2019. In this interview, we discuss how to have those important but awkward conversations with your parents and grandparents about estate planning, wills, trusts, power of attorney, and more. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Paula describes the experience of having Covid-19, the illness caused by coronavirus. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#248: We are living in a time of extreme uncertainty. Many of us are questioning how we can best use the funds we have to survive it. “Should I sell the funds I have invested in the market, or keep contributing?” “Should I continue with my plans to invest in real estate?” “Should I hoard all of my cash in case this gets worse?!” My friend and former financial planner Joe Saul-Sehy joins me on today’s show to shed light on the answers and how to handle the stock market collapse. Here are the key points we discuss in this episode: Don’t panic sell and convert paper losses into real losses. Stay the course. If this is your first bear market, welcome to being a real investor! This is how you grow in the long-term. Dollar-cost averaging is your best friend. How this upcoming recession might be different. The silver lining? The economy was doing well going into this. But the speed at which our markets recover depends on the speed and dedication with which we flatten the curve. The financial principles you can use that will guide you to security in these rough times. P.S. – Unless you’ve been tested, default to the assumption that you’re infected and act accordingly. For more information, visit https://affordanything.com/episode248 Learn more about your ad choices. Visit podcastchoices.com/adchoices

It's Quarantine Day 10, and thank goodness I've been staying in, because yesterday I learned that I have a 102.3 degree fever. I don't know if it's Covid-19 or if it's a fever with extraordinarily bad timing. Learn more about your ad choices. Visit podcastchoices.com/adchoices

A new segment giving tips to help flatten the curve and manage your money during this global event. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#247: Caroline wants to buy her first home in Denver, CO. How can she calculate how much mortgage she can comfortably afford? Anne plans to retire later this year on rental income (woohoo!). She’s saved up a hefty emergency fund for her properties, and she wants to know 1) if she should invest a portion of this in index funds, and 2) whether she should rebalance her portfolio to account for this huge cash allocation. Anonymous Nurse has over $100,000 in debt, not including their mortgage. They want to invest in rental properties, but with so much debt, they're thinking of selling their home or renting it out. Which option is best given their interest in real estate? Joy wants to know if she should put $50,000 towards her primary residence mortgage, or use it as a downpayment on her first rental property. What are the pros and cons of each option? Anonymous owns a cash-flow positive condo...on leased land. The land will revert back to the owners in 32 years. When is the best time to sell this property? I answer these five questions in today’s episode. Enjoy! For more information, visit the show notes at http://affordanything.com/episode247 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#246: At 19 years old, after completing her first year of college, Jillian married her husband. During their first year of marriage, they lived in a camper and earned a combined salary of $12,000. One year later, Jillian's husband graduated college and joined the military. They relocated to Washington D.C., where they earned a combined $60,000 per year. They saved half of their income and used that savings to chip away at $55,000 of debt. At 22 years old, Jillian and her husband adopted a son. Not long after that, they had a biological newborn. At 24 years old, they accumulated their first $100,000. Jillian and her husband remained committed to saving half of their income. This allowed them to buy a house in cash, invest in two rental properties, and invest in index funds. At 32 years old, Jillian and her husband achieved financial independence. All on a modest five-figure income. How did Jillian and her husband live on $12,000 per year? How did they save $100,000 after three years on a $60,000 per year salary? What sacrifices did they make? And how did they transition from saving to spending? Find out in this raw, emotional interview. ____________ You'll enjoy this episode if: You earn less than six-figures and question your ability to reach financial independence Guilt prevents you from spending the money you’ve saved (“I can’t spend on X if I want to achieve FIRE!”) You want a relatable, realistic take on the journey to financial independence For more information, visit the show notes at https://affordanything.com/episode246 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#245: Joe has a 24-year-old friend who won a $1 million settlement. How can she use this money to set herself up for financial independence? Jay is 52 years old and wants to retire at 59.5. He began investing in individual stocks to achieve this goal, and has had excellent returns so far. Is this a sound plan for early retirement? Or should he work until age 62 for Social Security? Steve is 54 years old. He plans to retire at 60, which is when he can collect 67 percent of his pension. A Vanguard advisor suggested that he direct some of his 403b contributions as Roth contributions, rather than pre-tax contributions. Should he act on this suggestion? Anonymous in New York City wants to invest their HSA contributions this year, but the expense ratios seem high. Can they move their HSA to a different provider? What fees are normal for HSAs? Brit has a similar question. She wants to know: is it possible to invest in the S&P 500 Fossil Fuel Free Index through Vanguard? My friend and former financial advisor, Joe Saul-Sehy, joins me on the show to answer these six questions. Enjoy! For more information, visit the show notes at https://affordanything.com/episode245 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#244: Grant Baldwin felt burned out. He worked as a youth pastor, which felt like a 24/7 profession. He had to attend student events held late into the night, which left him exhausted. One night, he came home to find his wife crying. She told him that she felt like she had a roommate, rather than a husband, because he was gone so often. So Grant did something drastic: he quit his job, with negligible savings, when his wife was four to five months pregnant. For the following year, he waited tables and worked odd jobs, cobbling together gig-economy money while raising a newborn. During his rare unscheduled moments, he started crafting a new career for himself as a self-employed public speaker. Today, Grant Baldwin is a speaker, entrepreneur, coach, and author of The Successful Speaker. He’s earned multiple seven-figures in speaking fees and has helped over 2,000 people become professional speakers. He shares how he made his dream a reality in this episode. For more information, visit the show notes at https://affordanything.com/episode244 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#243: Adam is 23 years old and wants to achieve financial independence as quickly as possible. However, he’s nervous about investing in the stock market and real estate. How can he overcome his fears? Paris, age 35, has a similar question. She earns $150,000 per year, is debt-free, and doesn’t own a home. How can she reach financial independence in less than 10 years? Paul wants to househack his first home, but none of the properties he's seen meet the one percent rule. He doesn’t want to rent forever. Does he need to compromise on his commute time, or wait until he finds an undervalued gem? Anonymous Househacker rents an apartment with three bedrooms, two of which he rents out on an inconsistent, short-term basis. They want to know: does the money they earn count as rental income if they aren’t making a profit on it? Ben is a real estate investor who’s curious about growing his portfolio from four units to 20 units. What’s the best approach to take? I answer these five listener questions in today’s episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode243 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#242: Ash Ambirge grew up in a trailer park in Pennsylvania. She never met her father. Her disabled mother, who raised her on government assistance, passed away when she was 20. Her childhood goal? To join the middle class. She dreamed of becoming one of those people who eats lemon pepper chicken. What’s more middle-class than that? She attended college on a full scholarship. When she graduated and accepted her first cushy office job, earning $30,000 per year, she blew her paychecks. She bought a brand-new car, rented a luxury apartment and financed a $5,000 mattress. Yet despite her material luxury, she felt that some important element was lacking. In her quest to find meaningful and creative work, she launched The Middle Finger Project, a company that teaches skills like entrepreneurship, battling perfectionism, and trusting your most dangerous ideas. She joins us on today’s podcast episode to share her incredible story about struggling to join the middle class, shrugging off a conventional career, and trusting her most dangerous ideas. For more information, visit the show notes at https://affordanything.com/242 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#241: Anton wants to accelerate his flight training so he can get hired within two to three months, rather than two to three years. He has to raid his retirement savings to achieve this. Should he? Linda and her husband have their eyes on early retirement, but they aren’t sure what their post-retirement lifestyle will cost. How can they budget for unknown expenses that include travel? Joseph contributes 15 percent of his income to both a Roth 457b and Roth IRA. He wants to retire before age 59.5. Given his early retirement goal, should he focus solely on his Roth 457b? Henry wants to know how rebalancing and dollar cost averaging interact with each other. Should he rebalance his all-equities portfolio? If so, what approach should he take? Joe maxes out his 401k and IRA each year. He can make after-tax 401k contributions, or fund his Vanguard taxable brokerage account. Which should he prioritize? As usual, my friend and former financial advisor, Joe Saul-Sehy, joins me on the show to answer these five listener questions. Enjoy! For more information, visit the show notes at https://affordanything.com/episode241 Learn more about your ad choices. Visit podcastchoices.com/adchoices