Show cover of Afford Anything

Afford Anything

You can afford anything, but not everything. We make daily decisions about how to spend money, time, energy, focus and attention – and ultimately, our life. How do we make smarter decisions? How do we think from first principles? On the surface, Afford Anything seems like a podcast about money and investing. But under the hood, this is a show about how to think critically, recognize our behavioral blind spots, and make smarter choices. We’re into the psychology of money, and we love metacognition: thinking about how to think. In some episodes, we interview world-class experts: professors, researchers, scientists, authors. In other episodes, we answer your questions, talking through decision-making frameworks and mental models. Want to learn more? Download our free book, Escape, at http://affordanything.com/escape. Hosted by Paula Pant.

Tracks

How One Ex-Inmate is Building a Better Future
#507: Robert was recently released from prison and wants to start his life on the right foot. What’s Joe and Paula’s advice for him? Suzy is excited to deploy her first corporate bonus but scared to invest everything in a lump sum. Should she stick with what’s worked in the past and just dollar cost-average? Meghan doesn’t understand how stock pricing affects capital appreciation. Is it always better to buy when share prices are low? 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/episode507 Learn more about your ad choices. Visit podcastchoices.com/adchoices
61:02 5/21/24
MadFientist: Life is Too Short to Wait for Someday
#506: "Today's guest, Brandon Ganch, also known as the MadFientist, reached Financial Independence (FI) and quit his job as a software developer at 34. But then he faced a vexing question: what should he do with the rest of his life? In this episode, Brandon shares his journey with FI, revealing the gap between the ideal life you envision on spreadsheets and the reality that unfolds. He talks about reaching FI sooner than planned, having more money than anticipated, and the adjustments he had to make to his lifestyle. It's a refreshingly honest look at FI that goes beyond the numbers. We also dive into the changing landscape of work and the impact of automation, artificial intelligence and machine learning. Brandon talks about what he would do differently if he were in his 20's, and shares valuable insights on tools you can use to stay relevant and future-proof your career. You'll enjoy this if: -- You're on the FI path and want to ensure your plans are flexible enough for life's surprises -- You're curious about the unexpected realities of achieving FI -- You're concerned about automation impacting your job security For more information, visit the show notes at https://affordanything.com/episode506 Learn more about your ad choices. Visit podcastchoices.com/adchoices
67:13 5/17/24
Harvard Dropout Builds Nation’s First Car-Free Utopia, with Ryan Johnson and JD Roth
#505: Ryan Johnson isn't your average CEO. He's a visionary reimagining city life, one car-free community at a time. In this episode, we chat with Ryan, the co-founder of Culdesac, about building walkable neighborhoods designed for human connection, not just traffic. We'll dive into his experience with Opendoor, his passion for electric bikes (he owns over 60!), and his audacious plan to revolutionize urban living. Buckle up (or maybe don't) for a conversation about the future of cities, the power of community, and why you might not need a car ever again. For more information, visit the show notes at https://affordanything.com/episode505 Learn more about your ad choices. Visit podcastchoices.com/adchoices
58:41 5/14/24
The Points Guy: Growing a Side Hustle into a 140-Person Business
#504: Brian Kelly faced a harsh reality during the Great Recession – $65,000 in income and crushing credit card debt.  He started a simple side hustle, a website called The Points Guy, as an attempt to earn a few hundred dollars a month.   Fast forward to today: The Points Guy boasts 11 million monthly visitors and a thriving team of 140 employees.   In this episode, Brian pulls back the curtain on his incredible journey, transforming a fledgling side hustle into a multimillion-dollar enterprise.  He also shares his signature expertise – the art of redeeming airline miles and points – empowering you to travel smarter. For show notes, visit https://affordanything.com/episode504 Learn more about your ad choices. Visit podcastchoices.com/adchoices
65:35 5/10/24
Q&A: “My Husband is Not Reliable with Money. Should We Split Finances?
#503: Lindsay’s husband struggles with a mental disability. She’s worried about the impact on her family’s finances. How does she maintain harmony in her marriage and protect her kids’ future? An anonymous caller is stoked about her young nephew’s interest in saving for retirement. What’s Paula and Joe’s advice for a teenage saver? Another anonymous caller wants to get personal about Paula’s personal finances. Following up on a discussion from episode 494, Melanie has exciting news to share about automating ETF investments at Vanguard. 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/episode503 Learn more about your ad choices. Visit podcastchoices.com/adchoices
86:30 5/7/24
Fed Keeps Interest Rates High; Jobs Grow for 40th Consecutive Month
#502: The Fed met earlier this week and elected to keep interest rates at a 23-year high, in an effort to wrestle inflation closer to its two percent target. Despite this, the April jobs report, which was released today, shows that jobs grew for the 40th consecutive month, and unemployment remains under 4 percent, an historic low, for the 27th straight month. The 12-month inflation rate is 3.5 percent, based on March CPI data. Stocks remain on a tear, but performance is lopsided, with 10 companies driving 85 percent of this years’ gains. We cover this and more in our First Friday economic update episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode502 Learn more about your ad choices. Visit podcastchoices.com/adchoices
43:19 5/3/24
Mic Drop! ChooseFI's Brad Barrett Interviews Paula Pant
#501: Drop the mic! ChooseFI's Brad Barrett takes the host role in this special episode, interviewing Paula Pant about the financial independence community. This episode was recorded LIVE at a comedy club in Brooklyn, as the final installment of the Episode 500 and 501 celebration. For more information, visit the show notes at https://affordanything.com/episode501 Learn more about your ad choices. Visit podcastchoices.com/adchoices
87:11 5/1/24
LIVE EVENT Q&A: Episode 500, Part 2, with ChooseFI’s Brad Barrett
Enjoy Part 2 of our two-part Episode 500 special, recorded live at a comedy club in Brooklyn. Host Paula Pant and special guest Brad Barrett from ChooseFI answer questions from the audience, live on stage. Learn more about your ad choices. Visit podcastchoices.com/adchoices
59:47 4/26/24
LIVE FROM BROOKLYN: Episode 500 with ChooseFI’s Brad Barrett
Enjoy Part 1 of our two-part Episode 500 special, recorded live at a comedy club in Brooklyn. Brad Barrett, host of the ChooseFI podcast, joins us on stage to talk about what financial independence ideas and practices have changed … and what ideas and practices have remained consistent, universal and time-tested throughout the years. For more information, visit the show notes at https://affordanything.com/episode500 Learn more about your ad choices. Visit podcastchoices.com/adchoices
53:55 4/24/24
Vicki Robin: Financial Independence After 70 [GREATEST HITS WEEK]
We delve into the world of Financial Independence (FI) with a pioneer -- Vicki Robin, the co-author of Your Money or Your Life. In the 1970s, Vicki Robin and Joe Dominguez, from vastly different backgrounds, came together over a shared vision: FI as a life philosophy, not just a savings strategy. Their book, "Your Money or Your Life," which sold more than one million copies, outlined a three-dimensional approach to FI: Financial Intelligence: Thinking clearly and objectively about money. Financial Integrity: Aligning your spending and earning with your values. Financial Independence: Breaking free from paycheck dependence and limiting beliefs about money. In this podcast episode, Vicki will discuss a new dimension she's added: Financial Interdependence: Recognizing the importance of giving and receiving within our communities and the world. Vicki and I discuss how to move beyond "just the money" during the quest for financial freedom. This episode originally aired in 2018. We're sharing this as part of GREATEST HITS WEEK, a 5-day series in which we're sharing 5 episodes, across 5 days, that we produced during the earliest years of the Afford Anything podcast. You may have missed it then; enjoy it now. Learn more about your ad choices. Visit podcastchoices.com/adchoices
44:29 4/19/24
A.J. Jacobs: Habits, Health, and Human Connection [GREATEST HITS WEEK]
Esquire Magazine editor-at-large and bestselling author A.J. Jacobs joins the show to discuss his experimental approach to life. Jacobs, whose TED Talks have been viewed more than 3 million times, shares best practices around motivation, habits, confidence, boosting happiness, and optimizing creativity. In this episode: -- Discover the benefits that come from frequently changing your habits -- Learn why "fake it 'til you become it" is A.J.'s secret weapon for habit development. -- Explore how extreme gratitude can transform your mindset. -- Hear a cautionary tale of healthy living gone wrong. -- Learn how to make any career or business connection by unearthing the way in which you're distant cousins (as everyone on earth is, at most, roughly 70th cousins) Plus, hear a hilarious story about Jacobs revealing his entire sexual history to actress Scarlett Johansson. This episode originally aired in 2017. We're sharing this as part of GREATEST HITS WEEK, a 5-day series in which we're sharing 5 episodes, across 5 days, that we produced during the earliest years of the Afford Anything podcast. You may have missed it then; enjoy it now. Learn more about your ad choices. Visit podcastchoices.com/adchoices
34:33 4/18/24
Michael Kitces: Investing in Stocks vs. Skills [GREATEST HITS WEEK]
Stocks or skills? How should you invest? Should you pour money into unlocking your income potential? Or should you pour money into the market? Forget the motivational posters -- unlimited potential is real. But unlocking it takes investment. The question is: Do you invest in yourself or the market? Stocks, bonds, real estate offer clear returns. But what about investing in your skills, a side hustle, or education?  Financial advisor Michael Kitces joins us to crack the code on maximizing your return on investment, both personal and financial. Learn how to make smarter choices about your future and unlock your true potential. We're sharing this as part of GREATEST HITS WEEK, a 5-day series in which we're sharing 5 episodes, across 5 days, that we produced during the earliest years of the Afford Anything podcast. You may have missed it then; enjoy it now. Learn more about your ad choices. Visit podcastchoices.com/adchoices
66:41 4/17/24
JL Collins: How to Beat Wall Street with a Boring Portfolio [GREATEST HITS WEEK]
JL Collins, the author of "The Simple Path to Wealth," achieved financial independence in 1989 with a surprisingly simple strategy: saving half his income and investing in index funds. In this episode, JL breaks down his ultra-simple investing approach. He argues that keeping things uncomplicated leads to better results in the long run. "The less you mess with your investments," he says, "the more freedom you have to focus on what truly matters." This episode is for anyone who feels overwhelmed by complex investment strategies. Learn how to set your finances on autopilot and get on with living your life. We originally recorded and aired this episode in 2016. We're sharing this as part of GREATEST HITS WEEK, a 5-day series in which we're sharing 5 episodes, across 5 days, that we produced during the earliest years of the Afford Anything podcast. You may have missed it then; enjoy it now. Learn more about your ad choices. Visit podcastchoices.com/adchoices
29:31 4/16/24
Jean Chatzky: The 50% Off Fallacy & Other Ways You're Sabotaging Your Savings [GREATEST HITS WEEK]
Today’s guest is Jean Chatzky, financial editor for the TODAY Show, host of the HerMoney podcast and a frequent guest on TV shows like Oprah, Regis & Kelly, and The View. We discuss six money rules to guide your spending, including: #1: The more time you spend looking, the less happy you’ll be with what you find. #2: Your retirement trumps their tuition. #3: Losing money hurts more than it should. #4: Big numbers make smart people do stupid things. #5: Don’t lend money to friends & relatives, and don’t co-sign for loans. #6: If it's 50% off, it’s still 50% on. This leads us into discussing tactics to prevent wasteful spending, such as: -- The 10/10/10 Rule: How will you feel about this purchase in 10 minutes? 10 months? 10 years? -- The 24 Hour Rule: Delay the purchase by 24 hours. Do you still want it? -- Only Pay Full Price: Paradoxically, avoiding sales – and ONLY buying items at full price – might help you save more money in the long run. Finally, we chat about how to balance financial priorities when you and your spouse want different things. What if you want to retire early, but your spouse doesn’t? How do you handle this? Jean shares her ideas on these topics in this episode, which we originally recorded and aired in 2016. We're sharing this as part of GREATEST HITS WEEK, a 5-day series in which we're sharing 5 episodes, across 5 days, that we produced during the earliest years of the Afford Anything podcast. You may have missed it then; enjoy it now. Learn more about your ad choices. Visit podcastchoices.com/adchoices
29:52 4/15/24
Q&A: We Save $5,000 Per Month. Where Should We Invest It?
#499: Eugene and his wife are retiring with a $10 million net worth and a guaranteed income that exceeds their annual budget. Do they still need things like life insurance and a financial advisor? The next question, at 30:24, comes from an anonymous caller. Her HOA costs have doubled since she bought her condo. She’s wondering if it’s still a good investment. Should she keep it or sell it? We answer Nandini’s question at 48:14. Nandini and her husband save tons every month toward no goal in particular. What should they do with all their extra cash? 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/episode499 Learn more about your ad choices. Visit podcastchoices.com/adchoices
64:04 4/12/24
Harvard Business Professor Explains Investing in NFTs
#498: Financial literacy includes understanding NFTs, DeFi, and cryptocurrency. But it's hard to separate education from hype. Harvard Business School's Scott Duke Kominers, a professor in Harvard's Entrepreneurial Management Unit, and a Faculty Affiliate of the Harvard Department of Economics and the Harvard Center of Mathematical Sciences and Applications, joins us alongside Web3 expert Steve Kacizinsky to explain the financial, technological and social significance of NFTs. NFTs, or Non-Fungible Tokens, are a rapidly growing digital asset. Comprehensive financial literacy requires understanding NFTs. While NFTs are emerging opportunity for investment diversification, they are also highly speculative and volatile. NFTs also represent how digital ownership is evolving, and have implications for the economic futures of a myriad of industries. These assets stand at the intersection of art, technology and commerce. This episode provides a deeper understanding of NFTs, taught by a Harvard Business School professor and a Web3 expert. For more information, visit the show notes at https://affordanything.com/episode498 Learn more about your ad choices. Visit podcastchoices.com/adchoices
65:57 4/10/24
Tribute to Dr. Daniel Kahneman, Who Won a Nobel in Economics Even Though He Never Took an Econ Class
#497: Princeton Professor Daniel Kahneman never took an economics class. But he won the 2002 Nobel Prize in economics, thanks to his advancements in understanding the psychology of money. In today’s episode, we pay homage to the late Dr. Kahneman, who passed away on March 27 at age 90. We also discuss the jobs report, inflation data, the booming stock market, the next Bitcoin halving, Capital One’s acquisition of Discover, and the National Association of Realtors settlement. Enjoy! For more information, visit the show notes at https://affordanything.com/episode497 Learn more about your ad choices. Visit podcastchoices.com/adchoices
36:49 4/6/24
The Pay Cut Price of Freedom
#496: How much of a pay cut would you take for a lighter workload?  Today we hear from Paul, 35, who’s grappling with that question.  Paul’s boss offered him the chance to cut his hours and salary by 25 percent. He’d love to work fewer hours. He has a decent net worth, plenty of savings, and no debt. Should he grab the opportunity? Or stick with his long-term financial independence and early retirement plans? An anonymous caller and her husband want to retire at 55. They also want a bigger home, a better car, and to start growing their family. Can they afford it all? Tim spent his 20’s missing out on retirement savings as a medical student. He’s eager to catch up. What’s the shortest path to get there? Matthew and his family dream of leaving Florida for the Pacific Northwest. Will they regret selling everything to start over? Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. For more information, visit the show notes at https://affordanything.com/episode496 Learn more about your ad choices. Visit podcastchoices.com/adchoices
65:23 4/3/24
Dr. Cal Newport: Achieve More by Doing Less
#495: Marie Curie won the Nobel Prize in Physics in 1903 and the Nobel Prize in Chemistry in 1911. She's famous for her work in radioactivity. Lin-Manual Miranda is a songwriter, producer and director who won the Pulitzer Prize in Drama in 2016, as well as several Tony awards. What do they have in common? They lived a century apart. They innovated in disparate fields. But they shared a similar productivity practice. Both achieved greatness by embracing the practice of slow productivity, says Georgetown computer science professor Cal Newport. Slow productivity is a three-part practice, Newport explains: (1) do fewer things; (2) work at a natural pace; (3) obsess over quality. We're used to thinking of productivity as doing more in a short amount of time. This flips that idea on its head, focusing on doing less, but excelling. Slow productivity is the practice of doing fewer tasks better. In this episode, Newport explains how the practice of slow productivity diverges from the normal ways that people in modern society tend to work.  Life can be stressful. Your to-do list might feel never-ending. This episode can help you focus on the few things that matter most. It can help you feel less stressed, less busy, and yet -- paradoxically -- more productive, at the same time. Enjoy! For more information, visit the show notes at https://affordanything.com/episode495 Learn more about your ad choices. Visit podcastchoices.com/adchoices
79:33 3/28/24
My Husband Makes Double My Income, But Saves Nothing! Should I Be Worried?
#494: Tatyana is about to pay off her house at age 39! What’s next? Her husband, who earns twice as much (and whom she met after she bought the home), has no savings. They want a boat. Should she focus there? Matthew recently ended a relationship that resulted in a real estate buyout with an 8.1 percent interest rate. With rates expected to decline, how long should he wait to refinance the loan? Rachel’s friends know her as the finance gal, but she’s stumped about closed-end funds. What should she know about these investments? Erin and Angelique call in with a loan strategy to tackle Steve’s double mortgage dilemma from Episode 478. 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/podcast-questions For more information, visit the show notes at https://affordanything.com/episode494 Learn more about your ad choices. Visit podcastchoices.com/adchoices
49:42 3/20/24
Wall Street Secrets, with Your Rich BFF Vivian Tu
#493: Do you ever wonder what happens behind closed doors on Wall Street? Vivian Tu, also known as Your Rich BFF, is here to spill the tea. Vivian grew up in a modest immigrant family. After college, she found herself working insane hours on Wall Street after college. While working on Wall Street, Vivian saw some weird things. Once, a coworker stumbled hungover into the office after a trip to Atlantic City, carrying a duffel bag with thousands of dollars in cash inside. Vivian realized that there's a group of high-income and high-net-worth people who handle money in drastically different ways than she learned in her frugal upbringing. She learned about investing, taxes, legal loopholes. She discovered new ways of thinking about money. She shares these insights -- gleaned from her Wall Street days -- in today's podcast episode. Resources mentioned: Book: Rich AF: The Winning Money Mindset That Will Change Your Life Attend the LIVE Recording of Afford Anything's 500th Episode! https://affordanything.com/live500 Learn more about your ad choices. Visit podcastchoices.com/adchoices
59:36 3/13/24
I’m Earning Extra from my Side Hustle. But Does This Cramp My Chances at Investing?
#492: Christine’s business is struggling. She needs more income. If she adds a full-time remote job to her plate, how will her retirement and finances change? Rob enjoyed a banner year in 2023. He made over $1 million. But the sting of income tax has him making moves that violate his investment strategy. Is his tax tail wagging the dog? Gena is excited to make the most of business deductions. Can she contribute 100 percent of her wages to a 401k and have the company match that? Christina is tired of living like a pauper in the name of student loan repayment. Is Public Service Loan Forgiveness the answer? 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/episode492 Learn more about your ad choices. Visit podcastchoices.com/adchoices
56:27 3/7/24
Why Bitcoin is Back in the News | First Friday
#491: Welcome, Emma Chamberlain’s fans!! Thanks for joining the Afford Anything community. You can find out how to escape the 9-to-5 grind at affordanything.com/escape Once a month, on the First Friday of the month, we explore the hot economic and money stories that are dominating the headlines. These days, Bitcoin is back in the news. As of Friday morning, March 1st, its price ranged around $62,000, which is pretty darn close to its previous all-time high of $68,700. But why? Crypto was hot in 2020, but it faded from memory in recent years. What’s behind the comeback? And what does that tell us about how investments become fads? Find out in today’s First Friday bonus episode. Bonus listening: https://affordanything.com/325-bitcoin-for-beginners for a deep dive into understanding how Bitcoin works. Learn more about your ad choices. Visit podcastchoices.com/adchoices
22:53 3/1/24
Inside the Mind of a Supercommunicator, with Charles Duhigg
#490: Great communication will get you a raise. It'll get you promoted. You'll land the corner office. You'll make friends and be the life of the party. You'll land business deals and form lucrative partnerships. Supercommunication is a superpower. But how do we build it? Sometimes, you might walk away from a conversation with the joy of having made a cool new friend. Or you snagged a critical piece of information that you realllllly needed. Or you successfully negotiated an extra $5,000 off your car. On the flip side, sometimes you'll walk away from a conversation, scratching your head and wondering … “What just happened?” If either of these situations have happened to you, Charles Duhigg will help you understand WHY. Duhigg is a Pultizer Prize winning reporter. He holds an undergrad degree from Yale and an MBA from Harvard. He wrote for the LA Times and New York Times, before landing at The New Yorker. His first two books, The Power of Habit and Smarter, Faster, Better, have sold more than 5 million copies. Recently, he came out with a new book called Supercommunicators. He chats with us today to discuss the power of communication. Duhigg shares why communication is a critical component to happiness and success in every part of life. He discusses the different styles of conversations that people can have, which lead to either connection or disconnection. He also shares critical tips to help us all become supercommunicators and live richer lives. Enjoy! For more information, visit the show notes at https://affordanything.com/episode490 Learn more about your ad choices. Visit podcastchoices.com/adchoices
80:28 2/28/24
Ask Paula: What to Do with a Six-Figure Windfall?
#489: Cara made $100,000 in commissions this year, her biggest bonus ever. What should she do with the money if she wants to retire early? An anonymous caller is upset that the 401k plan he sold his boss on is charging him an Assets Under Management (AUM) fee. Should he keep the 401k at all? Remy and her husband need to come up with $30,000 for IVF treatments. How do they build their family without breaking the family finances in the process? Another anonymous caller and his partner have lived in an RV for years. They’re ready to settle. Should they sell most of his investments to purchase raw land and build an off-grid home? 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/episode489 Learn more about your ad choices. Visit podcastchoices.com/adchoices
68:54 2/21/24
Gut Instincts and Big Decisions, with Morgan Housel
#488: Ever made a flippant, seemingly minor decision that radically changed the course of your life? Morgan Housel has experienced this. At age 17, he made a quick decision that ended up saving his life. Sadly, two of his friends were less fortunate. He shares that story in today's podcast episode, and sheds light on the lessons he's learned from it. Housel says that his lifesaving choice -- and many of our other important decisions -- are snap verdicts, ones that we don’t spend much time thinking about. If pivotal moments are decided in a flash, how do we navigate risk? How do we evaluate our options? Housel says this comes understanding concepts that remain constant, consistent, and universal. We need to accept that humans aren’t rational. We must appreciate the reasons why the best answer doesn’t always win. We ought to remember that we overlook many good things happening around us. These constants will most likely impact our futures. Housel was named by MarketWatch as one of the 50 most influential people in the market. He is the New York Times bestselling author of The Psychology of Money. His new book is titled Same As Ever. He joins us to discuss the ideas in his latest book. For more information, visit the show notes at https://affordanything.com/episode488 Learn more about your ad choices. Visit podcastchoices.com/adchoices
62:55 2/14/24
Ask Paula: "Should I Put My Dreams on Hold … and Buy a House Instead?"
#487: Luis’s wife is killing it at her side hustle. The unexpected income has led Luis to YouTube for hacks to capitalize on their surplus. Can a 529 plan double as long-term care savings? Elizabeth is frustrated with the housing market. She’s been saving for years but isn’t anywhere near her goal. Should she give up and spend it on a dream pottery course instead? Steve has a dilemma. He doesn’t borrow money on principle. And his wife doesn’t want to sell their current house until they’ve closed on the next one. How is he going to make this work? Greta wants to “reverse” rollover an IRA into a 401k to avoid the pro-rata rule. Is that a thing? 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/episode487 Learn more about your ad choices. Visit podcastchoices.com/adchoices
68:09 2/7/24
Stocks are Hot. Jobs are Hotter. What’s Next?
#486: By every definition of the word, we’re in a bull market. The S&P 500 hit record highs for five consecutive days last week, and remained strong throughout this week. The Dow is above 38,000 for the first time in history. Unemployment has stayed below 4 percent for 24 months, marking the strongest employment in half a century. And consumer sentiment, which reflects more pessimism than the data warrants, is showing signs of improvement. The Fed met this week and decided to hold rates steady, as expected, but there are hints that they’ll start dropping interest rates within a few months. Inflation isn’t yet down to the Fed’s target rate of two percent, but it’s getting closer — with one notable exception. Auto insurance has skyrocketed; across the nation, car insurance is 17 percent higher than last year. Meanwhile, a shake-up in the real estate industry is creating tumult for the National Association of Realtors, which is facing its first serious challenge in 100 years. The outcome could determine how steeply you’ll have to pay when you sell your home. Where do we go from here? What’s next for the economy? We tackle these questions in this First Friday podcast episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode486 Learn more about your ad choices. Visit podcastchoices.com/adchoices
53:53 2/2/24
How to Start a Business in One Weekend, with Noah Kagan
#485: If you’ve ever thought: "I’d love a business BUT …” I don’t have TIME I don’t have MONEY I don’t have IDEAS I have TOO MANY ideas and I don't know where to start I'm not technical I'm not creative or artistic I'm not good at sales You're not alone. Countless people don't start businesses or side hustles for these reasons. And they're losing thousands -- perhaps millions -- in opportunity cost. How much could you make if you started a side hustle that eventually scaled into a business? Possibly millions. Today's guest, Noah Kagan, is living proof. Noah was employee #30 at Facebook. His stock options, if fully vested, would be worth over $1 billion today. (If you want to do the math -- his stock options came to 0.1 percent of the company, which has a current market cap of $1 trillion.) But Noah was fired just a couple months before his stock options vested. So rather than getting a billion-dollar payout, he got nothing. He sank into a deep depression, eventually recovering with the help of a therapist who counseled him on how to reframe the experience. Then he rolled up his sleeves and got to work. He became a serial entrepreneur, building multiple businesses. His most successful venture now makes $80 million in gross revenue, and his personal take-home is $3.3 million per year (which comes from a $200,000 annual salary and $3.1 million profit distribution.) His net worth is $36 million. Not a billion, but still not too shabby. Noah recently wrote a book called "Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours." He sits down with us (in person!) to share: -- how to find business ideas -- how to overcome objections and rejections -- how to scale By the end of the episode, the common objections that you often hear -- like "I don't have time/money/ideas" -- will be quashed. Please enjoy! For more information, visit the show notes at https://affordanything.com/episode485 Learn more about your ad choices. Visit podcastchoices.com/adchoices
83:03 1/31/24
Ask Paula: The Hidden Cost of Student Loan Forgiveness
#484: Kristen’s financial advisor charges a 1.3 percent fee on her investments. They also sold her term life, whole life, and long-term disability insurance. Do they have her best interests at heart? Casey has $290,000 in student loan debt. He committed 10 years to one employer for a chance at public service loan forgiveness. But five years in, Casey questions what he’s missing out on. Sara feels like it’s time to move to a more conservative asset allocation but she’s torn between buying bonds from Vanguard or Treasury Direct. What’s the difference anyway? 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/episode484 Learn more about your ad choices. Visit podcastchoices.com/adchoices
67:07 1/24/24

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