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#480: The death of a sibling. Being declared dead after a head-on collision with a drunk driver. Suffering financially during the Great Recession. CANCER. Today’s guest, Hal Elrod, has battled all of these tough challenges. His little sister passed away in his mother's arms. Years later, Hal was hit by a drunk driver, broke 11 bones, declared dead, and once revived, learned that he might have to spend the rest of his life in a wheelchair. (He eventually regained his ability to walk.) And after that, he was slammed hard in the wallet during the Great Recession. But he's a fighter. He needed to develop practices to build his resilience. So Hal created “The Miracle Morning,” a morning routine practice that gained massive popularity when he released it in 2012. The six-step Miracle Morning routine is coined S.A.V.E.R.S. -- silence, affirmations, visualization, exercise, reading, and scribing (writing). The routine became wildly popular, in part due to its flexibility; Hal explains that time-crunched people can start this as a six-minute routine; dedicating just ONE minute to each of these six steps. Over time, people can see the positive changes that this makes, and expand the time they allot for this. The routine is now the subject of a documentary, also called the Miracle Morning, available on Prime Video. Midway through filming, Hal was diagnosed with a rare form of leukemia and given a 30 percent chance of survival. He let the cameras roll as he coped with his diagnosis in real time. He joins us on this podcast to describe that experience, and to talk about the practices that he's used to stay productive in the face of grief, severe injury and cancer. He talks to us about: the powerful Five-Minute Rule that helped him recover from a nearly fatal car crash the six most popular personal development practices of the successful specific tactics you can harness to create YOUR most successful life. As we move into the New Year, many of you are setting goals and resolutions. Hal describes specific, actionable tactics that you can use to build scaffolding and support around your new goals. Enjoy! For more information, visit the show notes at https://affordanything.com/episode480 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#479: Nicole’s 78-year-old mom is paying huge fees for low returns. How can Nicole help her mom make better investments? Paul is a single dad, worried about paying his daughter’s college costs. He’s trying to figure out how to report lower income on the FAFSA, so that his daughter can get better financial aid. Nick is in his 40’s. His long-term care insurance rate is nearly doubling. Should he stop spending on this type of insurance? Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episode479 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#478: Ever skipped that extra drink, pricey cheese, or a night out for the sake of your wallet? If this feels familiar, then you’ll appreciate today’s episode with Jamila Souffrant. Jamila is a Certified Financial Education Instructor, podcast host, and author, guiding us on making savvy choices to save while still having fun. Jamila explores the power of understanding our ""why not,"" staying motivated on our financial paths, shaping a success-bound mindset, and posing THREE crucial self-assessment questions for goal alignment. For more information, visit the show notes at https://affordanything.com/episode478 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#477: Kayla is torn between paying off a loan early or catching up on missed retirement contributions. Josh wants to retire early and meets the threshold for zero capital gains taxes. Should he put all his retirement savings into a brokerage account? An anonymous caller wants to know how to merge financial lives with her husband from another country. Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episode477 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#476: Mike Massimino stared in disbelief at his TV. The date was July 16, 1969, and he marveled as Neil Armstrong and Buzz Aldrin landed on the moon. At that moment, he knew he wanted to become an astronaut. He was six years old. But as Mike grew older, he developed more “realistic” dreams. After all, every kid wants to become an astronaut. The chances of making it are incredibly slim. He went to a local college, studied engineering, and took a job at IBM. But he couldn’t shake the tiny voice inside that said – “why not try?” So Mike upended his life. He enrolled in a Ph.D. program at MIT, and then proceeded to fail the qualification exam so badly that his professors gently suggested that perhaps a doctorate isn’t right for him. He battled to pass the exam on his second attempt, and went on to teach at Georgia Tech, from where he repeatedly submitted applications to NASA for their astronaut candidate program – which they called “as* can.” He was thrilled when he finally received his acceptance – until he learned that he needed 20/20 vision. At the time, NASA required astronauts to have naturally 20/20 eyesight, without surgery. So he sought out a doctor to help him re-train his eyesight. Then he learned that he’d need to pass a swim test. He was in his 30’s and had never swum. “Can’t I just take a math quiz?,” he joked. But he … didn’t let that sink him. (Pun intended). In today’s special episode, former NASA astronaut Mike Massimino explains how anyone – including you – can take your own moonshot. For more information, visit the show notes at https://affordanything.com/episode476 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#475: Born in 1924, Charlie Munger was raised during the Great Depression. At the time of his death on Tuesday, his net worth was estimated at $2.6 billion. But Munger’s greatest achievement wasn’t merely the scorecard of his net worth. His wit and wisdom, which Munger shared with the world through his book, Poor Charlie’s Almanack, which made him one of the most respected investors of the last century. Munger is the man who taught Warren Buffet how to invest. He’s lauded as the moral compass of Berkshire Hathaway, the company where he has served as vice chairman since 1984. He’s the man who famously said, "In the short run, the market is a voting machine. But in the long run, it is a weighing machine." Munger and Buffett met each other in Omaha, their shared hometown, at a lunch at the local Omaha Club, where they were introduced by mutual friends. They instantly connected. Buffett was an unknown at the time, but Munger saw his potential. Munger’s wife once asked him, “Why are you paying so much attention to [Buffett]?,” and Munger replied, “You don’t understand. That is no ordinary human being.” Their business partnership and friendship has lasted for more than 50 years, and Munger played a key role in many of Buffett’s investing decisions. He passed away on November 28, 2023, at age 99. In today’s First Friday bonus episode, we pay homage to the late investing legend Charlie Munger. For more information, visit the show notes at https://affordanything.com/episode475 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#474: When Tiffany Aliche was in her 20’s, she fell victim to a credit card scam. A crafty swindler convinced her to take out a cash advance against her credit card for $35,000. He said that he’d invest the money and produce Bernie Madoff-style returns. She was an inexperienced investor. She believed him. She never saw that money again. Aliche worked at a preschool. She didn’t make much money to begin with. But matters worsened when the school shut down, and she lost her job. She fell behind on mortgage payments and lost her condo. In order to recover from such huge setbacks, she had to grapple with an enormous sense of financial shame. Today, financial educator Tiffany Aliche, better known as The Budgetnista, shares how she overcame financial shame. She talks to us about the opposite of shame, which is a sense of financial wholeness. And she discusses practical tips for how to navigate the challenges of debt and scams. For more information, visit the show notes at https://affordanything.com/episode474 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#473: Sarah has cash to pay a $8,000 medical bill but she’s reluctant to drain her savings. Should she sign up for the hospital’s interest-free payment plan? Jennie is an independent consultant but gets paid as a W-2 employee. Without access to a SEP IRA or a 401k plan, is there another option to save for retirement? An anonymous caller is wondering how to run a cost-benefit analysis on pursuing a graduate degree. Brian is getting inundated with spam calls as a real estate investor. Is there a way to stop the madness? Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episodes473 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#472: Imagine this: You’re a teenage musical prodigy, a world-class classical French horn player. You drop out of college at age 19 and spend your twenties touring the globe as a musician (including, once, tripping and falling off the stage at Carnegie Hall). At age 31, you retire from your musical career, get a Ph.D., and become a professor – first at Syracuse and then at Harvard, where you teach both at Harvard Business School and at the Harvard Kennedy School. You publish 13 books and write a column for The Atlantic, which gets noticed by Oprah Winfrey. Oprah then invites you to dinner, where she asks you to co-author a book together. This is the life of today's guest, Harvard Professor Arthur Brooks, whose collaboration with Oprah, a book called Build the Life You Want, focuses on the science and research behind happiness. Brooks teaches a class on leadership and happiness to second-year Harvard MBA candidates. In our conversation, we discuss a range of topics, including metacognition (thinking about how to think), the neurobiological basis of ruminating, and how to balance the concept of contentment with the innately human urge for ambition and progress. He also offers a formula for happiness: enjoyment + satisfaction + meaning and purpose. So – I hope you enjoy this episode; I hope you find it satisfying, and I hope it fills you with meaning and purpose! – Paula For more information, visit the show notes at https://affordanything.com/episode472 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#471: Bob split a $350,000 windfall between savings and paying down his mortgage. But now he’s wondering if he made a good choice. Can Paula and Joe do the math to justify his gut-driven decisions? Julia wants to tap the equity from a second home to buy a third home in Texarkana, Texas. Is this a good plan? Joey Jr. wants to retire early, put two kids through college and buy a vacation home within the next five years. How can he afford to do it all? An anonymous caller wonders if $1 million is a good budget for a retirement pad. Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episode471 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#470: The economy is booming. GDP grew 4.9 percent last quarter, the fastest rate of growth since 2021. Consumer spending jumped 4 percent. Unemployment is holding steady at 3.8 percent, historically low. The U.S. added net new jobs for the 34th consecutive month. And yet – people are worried. Online discussion around layoffs at its highest point since July 2020. High-profile headlines about major staffing cuts – most recently from Schwab, which is dismissing 2,000 employees – fuel these fears. Why is there such a disconnect between sentiment, which is pessimistic, and economic data, which is robust? We explore that qu estion in today’s episode. We also discuss the controversial Credit Card Competition Act, which if passed might eliminate credit card rewards like airline miles and cashback. We talk about Mint, the budgeting app with 3.6 million users, announcing that it’s shutting down. We also share details about the student loan repayment debacle. And we describe a landmark court ruling for $1.8 billion – yes, with a B – against the National Association of Realtors and several real estate brokerages, a verdict that may revolutionize the business model of how homes are bought and sold. Enjoy our First Friday of November 2023 episode! Learn more about your ad choices. Visit podcastchoices.com/adchoices

#469: Lindy feels like her $300,000 of accumulated equity could be put to better use. But she doesn’t want to buy more real estate right now. What’re her options? Katie wants to become a landlord in her home state but she’s concerned about the effects of redlining. Should she look into Section 8? Claudia lives in Germany and wants to buy an apartment in Manhattan. But she knows nothing about US real estate. Where does she start? I tackle these questions in today’s episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episode469 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Money management is all about setting priorities. Maybe you have the twin goals of sending your kids to college while also saving enough for retirement. And maybe you’re struggling to figure out how to balance the two. Today, Bryan Kuderna, a certified financial planner, shares a framework for helping us set priorities. We talk about the importance of economic literacy, in addition to financial literacy. We discuss how retirement has changed throughout history. And we apply those broader lessons to how you think about retirement. For more information, visit the show notes at https://affordanything.com/episode468 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#467: Should Knoxville use a higher-interest Home Equity Loan (HELOC) to pay off a lower-interest 401k loan? Joelle’s tenant is interested in a rent-to-own agreement. Is this a good idea from a landlord’s perspective? A recent wildfire shifted Sharon’s house into a flood zone. Should she sell before FEMA redraws the map and it becomes official? Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode. Enjoy! P.S. Got a question? Leave it here. For more information, visit the show notes at https://affordanything.com/episode467 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#466: The Consumer Financial Protection Bureau reported in 2022 that medical debt is the most common reason to get a debt collector call. A Census Bureau study in 2021 found nearly 1 in 5 households (19%) couldn’t pay for medical care when it was needed. These statistics underscore the fact that the potential for unforeseen medical expenses to negatively impact our lives is ENORMOUS. Dr. Virgie Bright Ellington, a medical billing expert and author of “What Your Doctor Wants You to Know to Crush Medical Debt,” joins us for today’s episode to discuss the thorny topic of medical expenses. The episode begins by acknowledging the widespread and detrimental impact that medical bills can cause, especially in a healthcare system as intricate as the one in the United States. Dr. Ellington emphasizes the importance of proactively addressing medical bills to prevent them from becoming a source of financial stress. She then shares a detailed roadmap that will empower listeners to navigate the complex world of medical bills with confidence, ultimately achieving financial peace of mind in healthcare. For more information, visit the show notes at https://affordanything.com/episode466 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#465: The Fed is holding interest rates steady for now. The jobs report is better than expected. Stocks and bonds are both going down. What's going on right now in both the economy and in the markets and where should you put your money and your time and attention? That’s what we’re going to cover in this episode. Links mentioned: https://affordanything.com/inflation https://affordanything.com/365 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#464: More than ever, most people's lives are packed to the brim with activity. We are trying to fit in demanding jobs and families, commuting and a neverending list of chores. Social lives often suffer. It’s no wonder that in 2021, 12% of U.S. adults said they did not have any close friends, up from 3% in 1990. This has enormous consequences on our health, productivity, and our ability to grow our net worth, make money, and enjoy life. Dr. Mariso Franco, a renowned psychologist and best selling author, shares invaluable insights on the significance of fostering meaningful connections and discusses the detrimental impact of NOT having fulfilling connections in our lives. Today’s episode also delves into the importance of connection in the workplace. We chat about how cultivating genuine relationships with colleagues can boost productivity, enhance job satisfaction, and contribute to a positive work environment. Throughout the episode, Dr. Marisa Franco shares practical tips and actionable advice on how to nurture and sustain friendships in our fast-paced, digital age and improve our overall well- being. For more information, visit the show notes at https://affordanything.com/episode464 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#463: Mary is struggling to compare two job offers: one from a large corporation and another from a tiny business. How should she decide? An anonymous caller wants to buy a different home, and convert his current home into a rental. How should he finance this move? Christina recently slayed her debt and put herself on track for financial success. But now she’s bored. How can auto-investing be more exciting? Speaking of debt, Christina shares a creative HACK to SAVE $60,000 in student loan interest payments. Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it here. For more information, visit the show notes at https://affordanything.com/episode463 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#462: As a society, we’re fascinated by stories of the rich. We hear news, see social media posts, and read books about how others become wealthy, how to maintain that status, and what their lifestyles look like. But what if the media we’re consuming is misleading us? Dr. Seth Stephens-Davidowitz’s research shows that the stories about the rich that dominate the popular press are misleading. Stephens-Davidowitz holds a PhD in economics from Harvard University. He’s a data scientist and a New York Times bestselling author. In today’s episode, we discuss the misleading stories around the rich. We unearth the truth behind those stories, using data rather than narrative. We explore the types of businesses that quietly make people millionaires. We describe the ages, occupations and locations of people that become rich, and the unexpected paths they take to achieve this. And we share actionable takeaways that will help you do the same. Discussion as of September 2023: 01:38: Who gets secretly rich? 02:18: The kind of protection you need if you want to be rich 04:10: The number one way to become a millionaire 08:44: What is takes to be a successful entrepreneur 09:19: The detrimental impact of some stories 12:48: The worst kind of businesses 17:14: Who makes up the best entrepreneurs? 21:18: Increase your luck surface area 27:57: How to revolutionize a field 30:37: The ACTUAL path to entrepreneurial success 32:08: The role of duration neglect in decision making For more information, visit the show notes at https://affordanything.com/episode462 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#461: A special LIVE recording in front of an audience at Podcast Movement, an industry conference in Denver. Former financial planner Joe Saul-Sehy and I tackle two questions in today’s episode. Our first question comes from a soon-to-be-single-mother on the precipice of divorce. How should she navigate this financially? Our second question comes from the spouse of a Purple Heart veteran of the war in Afghanistan. She and her husband would like to take a one-year sabbatical from work when they turn 40, which is in five years. They’d also like to pivot into lower-paying but more enjoyable careers. How should they map out their money for this transition? Joe and I dedicate this episode, recorded live on stage, to answering these two questions. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episode461 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#460: Mental toughness is the bedrock of starting a business, growing a multimillion-dollar portfolio, investing in real estate, crushing your debt, retiring early. Today’s guest, Dr. Nate Zinsser, mentors elite athletes, soldiers and executives in confidence and mental toughness. He is the sports psychology mentor for two-time Superbowl MVP Eli Manning and the Director of the Performance Psychology Program at the U.S. Military Academy at West Point. He’s mentored the NHL’s Philadelphia Flyers and NCAA teams, and has been a consultant for the FBI Academy, U.S. Army Recruiting Command, and the NYC Fire Department. He holds a PhD in sports psychology from the University of Virginia. In today’s episode, we discuss how to develop the type of mental toughness and confidence that can help you grow your investments, start a business, take risks in your career, make offers on houses, and overall master your financial life. For more information, visit the show notes at https://affordanything.com/episode460 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#459: Andrey is a savvy 10-year-old wondering what’s the best way to save up for his first car. Ingrid wants to know if her parents’ preference for Retiring on Dividends is a better approach compared to the 4 Percent Rule. Erica’s part-time work schedule will place her in an unusually low tax bracket this year. Should she take this rare chance to execute a Roth conversion? Or is it better to prioritize debt payoff? Chloe is worried about the end of student loan forbearance. Should she pull back from making retirement contributions to focus on debt payoff? Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail Learn more about your ad choices. Visit podcastchoices.com/adchoices

#458: Today we chat with Scott Trench, the CEO and President of BiggerPockets, a real estate investing education company with more than 2 million members. He joins us to share cutting-edge insights on today’s real estate market. We discuss economic trends, demographic shifts, and talk about how interest rates impact home buyers. Whether you're a potential homebuyer, an investor, or simply curious about the housing market, this conversation will shield light on what’s REALLY happening in today’s confusing real estate market. For more information, visit the show notes at https://affordanything.com/episode458 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#457: Angie sold all the stocks in her retirement account last year. And now the market’s climbing. What should she do with her $500,000 cash position? Christina will be graduating with six figures of student debt. Should she refinance out of a federally protected loan to lower her interest rate? An anonymous caller wonders how Paula and Joe handled their primary residences when they moved out of state. Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/podcast-questions For more information, visit the show notes at https://affordanything.com/episode457 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#456: Stanford psychology professor Jamil Zaki shares his research and findings around the science of empathy – and how we can apply this to improving our relationships with colleagues, clients, customers, co-founders, and business and investing cohorts. Zaki is the director of the Stanford Social Neuroscience Lab, and the author of “The War For Kindness.” We'll break down the science. We talk about why empathy matters in business, investments, and in career growth, and we’ll discuss its digital age dynamics. How does AI impact the way in which we relate to others? If you want to learn the science of emotional intelligence, and how to apply this to your career and business interactions, you’ll learn a lot from today’s episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode456 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#455: Yvette recently retired with the goal of reaching a $10,000 monthly income from her real estate investments. Should she put her money toward debt payoff or portfolio expansion? Carly wants to buy a second home and convert her current home to a rental. What are the pros and cons of tapping into existing equity versus saving cash for a down payment? An anonymous caller plans to move back to her touristy hometown in six to seven years. Is it smart to buy something now and take advantage of a thriving Airbnb market? I tackle these three questions in today’s episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episode455 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#454: Amy says she hit “rock bottom” with her finances. She says she struggled to ask for help before her situation became an emergency. How can others ask for help sooner? Rebecca is a mother of four, which means she’s juggling four distinct college timelines and 529 plans. How does she make a withdrawal plan when there are so many unknowns? Anne Marie switched jobs. What should she do with her old retirement accounts? And Dylan wonders if the IRS Rule of 55 applies to Roth 401k accounts. Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episode454 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#453: Today I chat with Simone Stolzoff, a consultant for organizations ranging from Google to the Surgeon General’s Office, and the author of "The Good Enough Job." He’s a graduate of Stanford and U. Penn. Simone has spent a lot of time thinking about the role of work in our lives, and he's got some really interesting ideas about how we can see work as just one part of a happy and fulfilling life. We'll be talking about what happens when work becomes more than just a job, how to challenge the idea that work has to be our calling or our dream, and how to build a more well-rounded life. If you’ve ever “over-identified” with your job, then you’ll find today’s conversation thought-provoking. Enjoy! For more information, visit the show notes at https://affordanything.com/episode453 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#452: Peter Atwater, an economics professor at The College of William and Mary and author of “The Confidence Map,” joins us to discuss how confidence shapes our financial markets. He explains how The Hunger Games relates to the Lehman Brothers collapse. He describes why you should “Buy Adele and Sell Pharrell.” From the Panic of 1857 to the patterns behind modern media consumption, Peter talks us through the intricate web of behavioral oddities that extend beyond finance. He talks about the “K-shaped recovery” – how different segments of the population are experiencing different economic realities. He touches upon economic, political, and social trends, and the hidden dynamics that shape market behavior and reveal the profound impact of consumer confidence. Our conversation will leave you with a deeper understanding of how behavioral patterns shape the financial landscape – including your investments. Enjoy! For more information, visit the show notes at https://affordanything.com/episode452 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#451: Rachel’s car is nearing its end of life and she’s short on cash. Should she sell before she’s hit with a major repair? Cam wants to arbitrage a hefty low-interest loan with a three-year payback period. Is this the opportunity of a lifetime or a disaster waiting to happen? Kris has tried all the budgeting apps but they’re cumbersome and time-consuming. Is there a better way to track his monthly expenses? An anonymous caller feels stretched thin with a high mortgage on a single income. Should she sell off some stocks to lower her monthly payments? Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episode451 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#450: On the First Friday of each month, we roll out a bonus episode that’s totally different from what we usually produce. These bonus episodes are special, unique, and – we hope – round out a fuller, more multifaceted picture of what we think about. Today, I’m introducing you to a business and economics correspondent from Moscow who I’m honored to call a close friend. Her name is Andrea Palasciano. She’s covered business stories from Paris, Marseilles, Rome and Moscow. She’s fluent in Italian, German, Spanish, French, English and Russian. She’s covered stories ranging from diamond mining in Siberia to sleep deprivation. She’s close friends with Evan Gershkovich, the 31-year-old Wall Street Journal reporter who’s currently in a Russian prison. Today is his 100th day behind bars. Andrea and I were both Knight-Bagehot Fellows and bonded during our year of immersing ourselves into deeply understanding how to tell better stories about business and economics. She joins me in this special episode to talk about the stories she’s covered, the sabbatical experience, and why it’s critical to understand how a bond works (!!). Enjoy! For more information, visit the show notes at https://affordanything.com/episode450 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#449: Jackie is a 42-year-old paralegal with two rental properties. She wants to buy three more. She asks for Paula’s thoughts about today’s economy. Should she buy under these economic conditions? Jen’s husband will retire with a pension that pays twice their living expenses. Does she still need her own retirement account? Rachael just bought a duplex, which she wants to househack. But she’s having second thoughts. Did she bite off more than she can chew? “Minouche” is a return caller with new information: she believes that borrowing from Dad is her only path to home ownership. Does this change Paula and Joe’s advice to her? (And is it even true?) And Molly, a concerned mom, shares some thoughts about this situation. Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it here. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#448: An anonymous caller is dealing with guilt over spending a large cash gift. What’s the best use if she doesn’t have an obvious financial goal to throw at it? Eric reached financial independence a few years ago but he hesitates to quit his job. What the heck is a Roth conversion ladder and how can he overcome his psychological barriers? Another anonymous caller and his wife earn $300,000. He feels like they should be financially independent but they’re far from it. What’s going on? Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode. Enjoy! P.S. Got a question? Leave it here For more information, visit the show notes at https://affordanything.com/episode448 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#447: We talk to Stanford economist Nick Bloom about his groundbreaking research on working from home. Nick has been studying remote work for more than 20 years – since the 1990’s, when people were “telecommuting.” His research, in real-time, looked at how events such as 9/11 shaped attitudes about remote work. The pandemic created a surge of interest in his research. It brought many newcomers to the field. But Nick has the benefit of historical knowledge. He’s spent his career deep-diving into this topic. Nick sheds light on the advantages and challenges of remote work, drawing from extensive data and analysis. He shares surprising numbers and statistics. We discuss productivity, collaboration, employee well-being and organizational dynamics. We also discuss the impact of remote work on cities and housing. Enjoy! For more information, visit https://affordanything.com/episode447 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#446: Paul suffered a stroke at 48. He’s on disability and feeling lost. How does he figure out what’s next? Should Ashley’s aging parents spend a third of their retirement savings on a house? Margaret is wondering if she could use her 401k for a down payment and save on her taxes. An anonymous caller is concerned she won’t have enough access to cash if she retires at 50. Is an Indexed Universal Life policy the right solution? Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it here. For more information, visit the show notes at https://affordanything.com/episode446 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#445: We sit down with Steve Chou, an accomplished entrepreneur who, alongside his wife, built two businesses that each bring in seven figures – and gives them the freedom to spend more time with their kids. We delve into the challenges he faced in the early stages of his business and how he overcame these obstacles. Additionally, Steve opens up about the personal and emotional aspects of running a business. He candidly discusses the fears, doubts, and sacrifices he and others have encountered during this transformational journey, emphasizing the importance of resilience and avoiding the comparison trap. Whether you're contemplating leaving your job to start your own venture or simply seeking inspiration from a seasoned entrepreneur, this episode with Steve Chou is a must-listen. For more information, visit the show notes at https://affordanything.com/episode445 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#444: The student loan pause is coming to an end. A moratorium on student loan repayments has been in place since the start of the pandemic, but starting Sept. 1st, millions of borrowers will be required to start making payments on their loans again. What does this mean for borrowers? In this episode, we'll discuss what borrowers can do to prepare, including an in-depth look at the variety of repayment plan options. We’ll also talk (in general terms) about how to handle ANY surprise new monthly bill – whether it’s a medical bill, a family member who needs ongoing financial help, or a student loan repayment that’s about to restart. For a list of Sources and Resources mentioned in the show, go to https://affordanything.com/episode444 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#443: As a former corporate powerhouse turned successful entrepreneur, Amy knows firsthand the challenges and triumphs of building a business from scratch. Amy is the host of the top-ranked podcast "Online Marketing Made Easy," and the owner of a multi-million dollar digital course business. She is also the author of “Two Week’s Notice,” a guide to quitting your job and building your own business. Get ready to be inspired as we uncover Amy's secrets to building a thriving business and learn how you can apply her proven techniques to achieve your own entrepreneurial dreams. Whether you're just starting out or looking to take your business to the next level, this episode is packed with actionable advice that you won't want to miss. For more information, visit the show notes at https://affordanything.com/episode443 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#442: An anonymous caller is struggling with a tempting offer from her family to buy her first house. Chris recently tripled his income. How should he manage this unexpected surplus? Tyson is wondering if it's a good time to convert his bonds into treasuries. “Jaula” wants to know if she should count her side hustle income as part of her retirement money. Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it here. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#441: It’s GRADUATION WEEK! For those of you who’ve been following along this past year, you know that I’ve been completing the Knight - Bagehot Fellowship at Columbia University. This week, my family and I are celebrating the countless hours of studying, all-nighters and eye opening experiences, so here at Afford Anything, we’re airing an important episode from our archives. This episode addresses important questions we’ve been getting from the Afford Anything community, including: Where do I invest? How do I diversify outside of the stock market? How many individual stocks should I hold? I’m looking forward to returning to the amazing Afford Anything community full-time as of June 1st, and eagerly anticipating sharing everything I’ve learned with YOU!!!! The team has big plans for the next year, so enjoy this episode and stay tuned for future announcements. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#440: An anonymous caller wants to retire and travel in 20 to 30 years. How does she know if she’s saving enough? Trace plans to take a mini-retirement next year. Where should she keep her savings until then? Samantha and her partner have lived out of their truck for 20 years. They sorta-kinda feel ready to buy a house and settle down. But they’re hesitating. What if they hate it? “Barbara,” an anonymous caller from Episode 422, is struggling with a scarcity mindset. How does she stop worrying about the future and build the confidence to enjoy life now? Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it here. For more information, visit the show notes at https://affordanything.com/episode440 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#439: There are massive rapid changes unfurling in the financial world. This week’s biggest news: First Republic Bank collapsed; JP Morgan Chase acquired it. (As it happens, I was one of 12 people who was lucky enough to have dinner with Chase CEO Jamie Dimon exactly one week ago – just days before the acquisition. I tell that story around the 8-minute mark of today’s episode.) The Fed issued a 10th consecutive rate hike, raising interest rates another quarter of a percentage point. Inflation is still double the target rate. And public confidence in bedrock financial institutions, as measured by a regional banking index fund, is in the toilet. I talk about these issues for the first 18-ish minutes of the podcast, and then we switch to a replay of an interview that we held with acclaimed financial advisor Michael Kitces, which originally aired as Episode 64. Enjoy! The interview with Michael Kitces originally aired on February 13, 2017 https://affordanything.com/64-michael-kitces-mind-powerful-money/ Learn more about your ad choices. Visit podcastchoices.com/adchoices

#438: “Do you want to save money? Or do you want to enjoy your life?” That’s a common question, but it’s strange. It assumes these ideas are opposites: frugality is synonymous with deprivation; spending is a proxy for enjoyment. That premise is wrong. Let’s stop conflating spending with happiness. Let’s stop using “savings” or “free” as a euphemism for second-tier or sucky. Most online articles that discuss free or frugal enjoyment are poorly-thought-through listicles that offer half-baked ideas, like “go to the park” or “host a potluck.” Not only are these insufferable, they also miss the point. Behavioral change doesn’t come from a laundry list. It comes from cognitive reframing. To facilitate this reframe, we’ve invited Yale-educated former attorney and world-renowned happiness expert Gretchen Rubin to return to our show. Gretchen was a guest on Episode 40, when she cited research about effective habit formation. She returns with a methodical, structured look at how to derive more joy from daily experiences through heightened sensory awareness. She draws from science, philosophy, medicine, literature and psychology to tell a layered story about how to find simple pleasures in everyday things. Her latest book, Life in Five Senses, came out on April 18 and immediately hit the New York Times bestseller list. Enjoy! Timestamps as of April 2023: 10:44: Why you should visit the same place everyday 11:55: How going to the same place can change over time 16:40: Advantages of being in tune with our senses 24:07: How to deepen your sense of smell 31:00: How culture impacts senses 37:19: How does your age impact your sensory experience? For show notes, go to https://affordanything.com/episode438 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#437: Do you have a project you want to start … but you’re stuck in analysis paralysis? Do you feel like if you want to do something right, you have to do it yourself? Do you try to wind down after the end of a long day, but your energy levels are just not quite restored? If you answered “Yes!” to any of these questions, then this episode is for you. Psychotherapist Katherine Morgan Schafler, a former on-site therapist at Google, and author of “The Perfectionist’s Guide to Losing Control,” joins us to chat about her research on perfectionism. She shares a framework on five types of perfectionism. She describes the pros and cons of each type, and how to work through some of the negative tendencies to build a more emotionally healthy life. Enjoy! For more information, visit the show notes at https://affordanything.com/episode437 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#436: Jeremy wants to attend graduate school. Should he take student loans or cash out his investment portfolio? Andy is wondering if the 4 percent rule stands up to high inflation. (There’s a shockingly simple answer!) Did Rudolfo discover a hack to supercharge his 401k investing? Nandini is overwhelmed by her investing choices. What accounts should she use? What funds should she pick? Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it here. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#435: Lee is 30 and facing a tech layoff. She can live for a year on her savings. She’s thinking about taking the rest of the year off. How should she prepare her investments? Stacy wants to buy an Airbnb but she’s scared she’ll regret selling her company stock to do it. An anonymous caller is tired of living paycheck-to-paycheck as a freelance artist. How can she stabilize an inconsistent income? Danelle is a DIY investor. She can’t find a financial advisor who gives advice without insisting on managing her investments. Is she looking in the wrong places? Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it here. For more information, visit the show notes at https://affordanything.com/episode435 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#434: The majority of financial advice is geared to people with 9-5 jobs: “Negotiate for a raise.” “Max out your 401k match.” “Budget based on your income.” Where’s the financial advice for people who earn money in tips: restaurant servers, bartenders, hairstylists, concierge, valets, ushers, nail salon workers, strippers, or other service industry professionals? What about gig economy workers, freelancers and entrepreneurs? People who don’t earn a regular paycheck? Not only do these workers earn a volatile and unpredictable income, they also often don’t have job-provided health insurance, retirement plans, and paid time off. They need to provide themselves with these benefits. What should they do? That’s where Barbara Sloan comes in. She’s a financial coach and author of “Tipped: the life changing guide to financial freedom for waitresses, bartenders, strippers, and all other service industry professionals.” Her book and advice applies to anyone who works outside of the traditional confines and systems. If you (or someone you know) works for tips, you’ll love Barbara. And if you’re curious about exploring work outside of the normal 9-to-5, and wonder how to set yourself up for financial success when your income is hit-or-miss, this episode is for you. Enjoy! Estimated Timing of Discussion Points as of March 2023: 01:59: The tipped workers we may forget 03:54: Financial challenges for tipped workers 05:57: The importance of thinking like an entrepreneur 23:02: Tips for the self employed 25:19: Budgeting with volatile income 27:13: Tracking income vs. tracking expenses 32:15: The distinction of budgeting based on income vs expenses 36:13: Budgeting as a trigger for disordered behavior For more information, visit the show notes at https://affordanything.com/episode434 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#433: Should “Walker,” an anonymous caller, give up a cushy job to take a year-long sabbatical in Europe? Blue wants to rent out his East Coast home, take a sabbatical from work, travel to the West Coast with his family, and start a YouTube channel and other entrepreneurial projects. How should he manage his money to make this happen? Melissa regrets buying a house two years ago in Ft. Lauderdale. She’s poured $30,000 into repairs, all of which she borrowed. Her home-related debts have mounted. She’s over-extended. Should she cut her losses? Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode. Enjoy! P.S. Got a question? Leave it here. For more information, visit the show notes at https://affordanything.com/episode433 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#432: Have you ever worried about running out of money after you retire? Do you keep checking your net worth to make sure you have enough? Does this always feel a little … unsatisfying? This episode discusses why. Today's guest, Michael Lynch, is a certified financial planner and author. His most recent book, “It’s All About The Income,” says that we’re obsessed with the wrong thing. Retirement planning is focused on growing assets. But your assets aren’t going to keep the lights on. Your INCOME, not your assets, is the centerpiece of your retirement. He shares real-life examples of the biggest risks to your income — the risks that might halt you from enjoying your retirement years. He shares tips on how to make sure your income is smooth and secure, even when you’re not punching the clock anymore. Enjoy! For more information, visit the show notes at https://affordanything.com/episode432 Estimated timing of discussion points as of March 2023: 01:36: The disconnect between living on income vs. assets in retirement 02:15: “There’s no such thing as safe” 04:41: The three-bucket approach to retirement 08:17: Sources to learn the history of the stock market 10:33: This historical best hedge against a declining stock market 16:25: The ideal asset mix for short-, medium- and long-term investments 17:01: The need to distinguish between money you’ll need vs money you’ll need to generate income 20:16: When to be a saver vs. an investor 23:49: How to approach the medium-term bucket 36:03: Lowering sequence of returns risk with the three-bucket method 37:02: Inflation risk and the impact on retirement Learn more about your ad choices. Visit podcastchoices.com/adchoices

#431: The title says it all. Paula Pant interviews Mr. Money Mustache about his dating life. We chat about why he wants to date inside the FIRE community (financial independence, retire early) – and whether he’s had any luck. We discuss the perils of navigating into the dating world after a divorce, which he did at age 43. And – AHEM – HE’S ON THE APPS. Well, specifically, he’s on one app. And it’s technically not an app, it’s a website. Whatever. HE’S ONLINE DATING, FOLKS. We talk about the difference between flirting in real life vs. online, and he talks about what he looks for in a dating profile. Our conversation also covers: What’s the point of dating someone inside the FIRE community, anyway? Do you really want to talk about money all day? (Hint: nope) Is he a serial monogamist? What should you do if one person is more interested in frugality, while the other is into investing? Personality, values, communication, chemistry … how can you find that ideal fit? How long does it take to figure out if you’re compatible? How quickly has he introduced his teenage son to his former (then-current) girlfriends? What advice does he share with his son about dating? Mr. Money Mustache is the pseudonym of Pete Adeney, one of the most prominent figures in the FIRE movement. He co-stars with Paula, Tiffany Aliche and Ross Mac in the 2022 Netflix documentary Get Smart with Money. Enjoy! For more information, visit the show notes at https://affordanything.com/episode431 The Fire Dating app can be found at https://firedating.me Learn more about your ad choices. Visit podcastchoices.com/adchoices