#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. Shoul...
Jul 12, 2023•1 hr 18 min•Ep 451•Transcript available on Metacast #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,...
Jul 07, 2023•1 hr 2 min•Ep 450•Transcript available on Metacast #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 ...
Jul 06, 2023•1 hr 20 min•Ep 449•Transcript available on Metacast #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 fi...
Jun 28, 2023•1 hr 15 min•Ep 448•Transcript available on Metacast #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 ...
Jun 21, 2023•51 min•Ep 447•Transcript available on Metacast #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 questi...
Jun 14, 2023•1 hr 10 min•Ep 446•Transcript available on Metacast #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 d...
Jun 07, 2023•49 min•Ep 445•Transcript available on Metacast #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 ...
Jun 02, 2023•29 min•Ep 444•Transcript available on Metacast #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 ...
May 31, 2023•56 min•Ep 443•Transcript available on Metacast #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 ...
May 24, 2023•1 hr 1 min•Ep 442•Transcript available on Metacast #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 i...
May 18, 2023•54 min•Ep 441•Transcript available on Metacast #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 a...
May 10, 2023•1 hr 1 min•Ep 440•Transcript available on Metacast #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...
May 04, 2023•2 hr 34 min•Ep 439•Transcript available on Metacast #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...
Apr 27, 2023•48 min•Ep 438•Transcript available on Metacast #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...
Apr 19, 2023•56 min•Ep 437•Transcript available on Metacast #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...
Apr 12, 2023•1 hr 3 min•Ep 436•Transcript available on Metacast #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...
Apr 05, 2023•1 hr 15 min•Ep 435•Transcript available on Metacast #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 ear...
Mar 30, 2023•52 min•Ep 434•Transcript available on Metacast #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. ...
Mar 22, 2023•1 hr 18 min•Ep 433•Transcript available on Metacast #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...
Mar 15, 2023•50 min•Ep 432•Transcript available on Metacast #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 dif...
Mar 09, 2023•1 hr 10 min•Ep 431•Transcript available on Metacast #430: D is worried that she’s going to suffer from her parents’ poor financial choices. Is it time to confront them about it? An anonymous caller and her fiance both own a house. Which one do they move into after the wedding? In a world of rising inflation, Nick wants to know if it’s time to change the way he saves for his future. Another anonymous caller wants to buy a second home within a decade. How does she start planning now? Former financial planner Joe Saul-Sehy and I tackle these four qu...
Mar 01, 2023•1 hr•Ep 430•Transcript available on Metacast #429: Have you ever thought about remodeling a kitchen? Retrofitting a camper van for #vanlife? Converting your basement into an Airbnb? Building a custom website? Recording an album? Did you worry that this project will cost more and take longer than you expected? This episode is all about how to complete projects on-time and under budget. Today's guest, Dr. Bent Flyvberg, is an Oxford University professor with a Ph.D. in urban geography. He’s published more than 200 scholarly articles on megap...
Feb 23, 2023•53 min•Ep 429•Transcript available on Metacast #428: Jamie currently lives at home and dreams of reaching financial freedom by her early 30s. How can she take advantage of her low expenses to accelerate her wealth building? An anonymous caller has enough to retire in 5 years. Does she still need her financial advisor or is it time to do it on her own? Meghan is a personal finance enthusiast who wants to start a coaching side hustle. What’s the best way to get started? Former financial planner Joe Saul-Sehy and I tackle these five questions i...
Feb 16, 2023•1 hr 1 min•Ep 428•Transcript available on Metacast #427: Okay, maybe the phrase “side hustle” is overused. But it’s also misunderstood. “Side hustle” is a catch-all term that people use to describe everything from low-paid gig economy labor – Doordash, Uber Eats, Rover – to six-figure consulting for Fortune 500 companies. On the remote-work side, it includes everything from freelance graphic design (services) to selling bundles of presentation deck templates (digital products). On the physical goods side, it includes everything from wholesaling ...
Feb 10, 2023•1 hr 4 min•Ep 427•Transcript available on Metacast #426: Behavioral researcher, Vanessa Van Edwards, talks to us about the critical importance of charisma - and how to use the perfect blend of warmth and competence to be charismatic. Dr. Michael Slepian walks us through what secrets mean, what they cost, and how we think about them. We dive into the world of long distance real estate investing, and talk about two of the major components of investing - Cash and mindsets - to help you determine if long distance real estate investing is right for y...
Feb 04, 2023•1 hr 22 min•Ep 426•Transcript available on Metacast #425: Ellen’s dad died unexpectedly. Her mom is clueless about finances. How does she help a 70-year-old unravel financial complexities? Mike has an opportunity to buy into his friend’s growing business. What should be his legal, financial, and relationship considerations? Pepp wants to know what’ll happen to her Restricted Stock Units when her company goes private. An anonymous caller needs to build her nest egg. She’ll be a full-time student with no income. She has 20 years until retirement. S...
Feb 01, 2023•1 hr 16 min•Ep 425•Transcript available on Metacast #424: We’re taught to stay in the game. Persist. Be gritty. Try, try again. But sometimes, the best decision is to walk away. Move on. How do you know when that’s right? When should you double-down … and when should you fold? Today’s guest, Annie Duke, won more than $4 million as a professional poker champion. She wrote the bestselling book Thinking in Bets and co-founded a nonprofit that teaches kids decision-making skills. Her most recent book, “Quit: The Power of Knowing When To Walk Away,” t...
Jan 25, 2023•1 hr 10 min•Ep 424•Transcript available on Metacast #423: We’ve heard the warnings about following your passion. People ask if you can *actually* make money doing what you love. They frame the question “passion or profit?” as though these are in opposition. The majority – who have never tried – decry, “what if you fail?” Nobody asks the more important question: what if you succeed? Are you still going to love your passion when you rely on it to pay the bills? We grapple with that question in today’s episode, which is devoted to side hustles and s...
Jan 18, 2023•1 hr 11 min•Ep 423•Transcript available on Metacast #422: Emily is saving aggressively for financial independence, but it’s hard to enjoy the present. Is it time to increase spending? Monroe wants to stop working. Forever. Which is more important: debt payoff or investing? Another anonymous caller and his spouse dream of building a homestead on an expensive piece of land. How much is too much to spend on housing? Given the high costs of moving, Sarah wonders if buying a starter home is the best decision. Should she and her fiance jump straight to...
Jan 12, 2023•1 hr 17 min•Ep 422•Transcript available on Metacast 
