Afford Anything
Paula Pant | Cumulus Podcast Network
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.
Episodes
Mentioned books
Dec 3, 2024 • 1h 11min
What the Crypto Shift Means for Your Money, with Tatiana Koffman
Tatiana Koffman, General Partner at Moonwalker Capital and author of "The Myth of Money," dives into the evolving landscape of cryptocurrency. She explains why Bitcoin may be seen as "digital property" and discusses the implications of recent Bitcoin ETF approvals. Koffman highlights global crypto adoption, from El Salvador's Bitcoin initiative to Nigeria's use of decentralized exchanges amidst banking instability. The conversation also touches on mining scarcity and the significant wealth some have built through innovative strategies in the crypto market.
21 snips
Nov 29, 2024 • 1h 15min
The Secret Psychology of Successful Negotiators, with Matt Schultz
Matt Schultz, author of "Ask Questions, Save Money, Make More," is an expert in negotiation strategies. He reveals that over 90% of people who ask for reduced credit card fees succeed, yet many hesitate due to fear of refusal. Schultz shares tactics for successful mortgage negotiations, emphasizing the importance of comparing multiple lenders. He also advises keeping a log of accomplishments for effective workplace negotiations and highlights the benefits of framing requests for employee benefits in a win-win manner.
Nov 26, 2024 • 1h 5min
Q&A: Why Your Retirement Math Isn’t Adding Up
Listeners dive into the nuances of financial planning, tackling questions about retirement and investment strategies. Discussions range from the right methods for allocating money across time horizons to evaluating the merits of value versus growth stocks. Attention is also given to how to accurately calculate financial independence and net worth, addressing common misconceptions. Historical insights from renowned investors are woven in, along with practical advice on navigating investments in an unpredictable economic landscape.
74 snips
Nov 22, 2024 • 55min
The Father of the 4% Rule Finally Sets the Record Straight
Bill Bengen, a former rocket scientist and the mastermind behind the 4% rule for retirement, sets the record straight on common misconceptions about retirement planning. He argues that the 4% figure is not a one-size-fits-all solution and reveals that the safe withdrawal rate may be closer to 5% for many. Bengen outlines eight crucial factors influencing withdrawals and introduces four 'free lunches' in retirement planning, emphasizing the importance of diversification and an equity glide path. His practical advice helps demystify financial strategies for a secure retirement.
6 snips
Nov 20, 2024 • 1h 13min
Q&A: Should We Ditch Rental Properties Entirely?
A couple wrestles with the decision to sell their struggling rental properties after a sharp income drop. One caller seeks to align her investments with her environmental values, questioning sustainable investing options. Another entrepreneur weighs the risks and benefits of pouring more resources into her flourishing business. Throughout the conversation, insights on financial psychology, the nuances of responsible investing, and the importance of tailoring business strategies emerge, offering listeners a mix of practical advice and motivation.
36 snips
Nov 15, 2024 • 1h 6min
Why Your Retirement Math Might Be All Wrong — If You Follow the 4% Rule
Christine Benz, the Director of Personal Finance and Retirement Planning at Morningstar and author of "How to Retire," reveals vital insights after decades of retirement expertise. She critiques the oversimplified 4% withdrawal rule, advocating for strategic fund allocation for expenses like travel and healthcare. Benz highlights the benefits of phased retirement for those wanting to keep fulfilling work. She also challenges the notion that retirees relocate solely for warmth, emphasizing that many prefer to stay close to home while maintaining social connections.
Nov 12, 2024 • 49min
Help! The Money is Good … But My Dream Life is Different
Andrew, a real estate investor and entrepreneur at a crossroads, discusses his dilemma of paying off rental mortgages versus pursuing his entrepreneurial dreams. He wrestles with the balance between financial security and the allure of independence. The conversation also touches on generational financial outlooks, with concerns from a Gen X dad about his Gen Z kids feeling hopeless about retirement. This leads to insights on mentorship, financial education, and the evolving opportunities for today’s youth.
Nov 8, 2024 • 1h 6min
Q&A: When a Million Dollars Feels Like a Burden
An anonymous caller grapples with the emotional weight of a $1 million inheritance and feels undeserving of the wealth. The discussion dives deep into sudden wealth syndrome and emphasizes careful financial planning. Another listener, Jack, seeks clarity on refinancing his adjustable-rate mortgage, exploring the nuances of interest rates and mortgage costs. Additionally, the complexities of choosing between Roth and traditional retirement accounts are unpacked, shedding light on personalizing financial strategies for future stability.
9 snips
Nov 5, 2024 • 60min
MadFientist: The Hardest Part of Early Retirement Wasn't the Money
Brandon Ganch, known as MadFientist, achieved financial independence by age 34 and now offers insights from his retirement in Scotland. He discusses the realization that retirement is more about math than age. Brandon shares how his family life has influenced his spending, notably investing in a home he genuinely enjoys. He reflects on his past 'hyper-frugality' and the importance of experiences over wealth, inspired by the book 'Die with Zero.' Traveling extensively helped him understand what truly fulfills him beyond financial goals.
Nov 1, 2024 • 48min
The Most Expensive Election Trade Ever Made (A Cautionary Tale)
The U.S. job market took a surprising hit, with only 12,000 jobs added in October. Natural disasters and labor strikes contribute to this slowdown, prompting the Federal Reserve to consider interest rate cuts. Meanwhile, gold is experiencing a resurgence as central banks stockpile it, hinting at geopolitical tensions. The discussion also highlights the dominance of tech giants in the stock market and the lessons traders learned from the 2016 election, underscoring the unpredictability of trading around political events.
