Afford Anything

#395: Welcome to Invest Anywhere, our monthly series on long-distance real estate investing.Invest Anywhere airs on the First Friday of each month and is co-hosted by Paula Pant and Suni Rao.In this episode, we tackle the challenging decision of how to evaluate a city for rental property investment.We will cover three specific sets of analysis, talking through a macro business cycle view, a more specific economic analysis, and then encourage you to review your own personal network.Enjoy!01:30: Topic introduction2:30: Evaluation to be discussed: Business cycle, economics, and hierarchy of boots on the ground5:48: High level look at the business cycle08:40: The four phases of the business cycle11:12: The peak phase of the business cycle25:40: The recession phase of the business cycle37:15: The recovery phase of the business cycle39:40:: The expansion phase of the business cycle47:10: Factors to consider when choosing a specific economy57:48: Hierarchy of boots on the groundFor more information, visit the show notes at https://affordanything.com/episode395 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#394: Bill listened to our episode with Bill Bengen, father of the 4% rule, and he wants to know if there was a way for him to figure out how much money he should be keeping in cash.Sheryl gets stock from her company, and she would usually sell it…but the stock value has decreased. And now, she isn’t sure what she should do.Heather inherited an IRA but MUST empty it within ten years - but she doesn’t need it right now. What should she do??Julie and her husband have access to an HSA for ONE MONTH. Can they max it out before they lose access to it?In today's episode, former financial planner Joe Saul-Sehy and I tackle these tough questions.Enjoy!Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.For more information, visit the show notes at https://affordanything.com/episode394 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#393: Chuck Jaffee is a forty year veteran financial journalist who regularly writes for the Wall Street Journal and is also a nationally syndicated financial columnist. He discusses how money and investors' attitude towards investing has changed over the last few decades.00:44: Introducing Chuck Jaffe03:05: How people interacted with the market in the 1980’s06:50: Dealer and liquidity risk when investing in the market09:23: How the environment 40 years ago impacted investor psychology 12:53: Long term impact of Black Friday, the worst market crash experienced by any living investor16:10: Discussion of fund options that are more illiquid and can sell at discounts 18:04: The combined influence of access real time data and the ability act in real time 28:31: Moving away from employee supported retirement plans29:00: The difference between financial education and financial literacy31:26: Chuck’s take on the 4% rule50:16: Portfolio and personal optimizationFor more information, visit the show notes at https://affordanything.com/episode393 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#392: Colleen and her husband own SEVEN paid off rental homes. Now they’re heading into retirement and disagree on what to do with some of that equity.Kevin wants to hit FIRE (Financial Independence, Retire Early) and believes his motivation comes from witnessing the financial trauma of the Great Recession. He’s wondering if others are motivated to reach FIRE for similar reasons.Anonymous wants to learn more about utilizing HSA accounts and Susan wants to learn more about investing in tax liens.In today's episode, former financial planner Joe Saul-Sehy and I tackle these tough questions.Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.Enjoy!For more information, visit the show notes at https://affordanything.com/episode392________________________________________ Learn more about your ad choices. Visit podcastchoices.com/adchoices

#391: Dr. Reza Abraham, an international leadership consultant, walks us through a framework of staying in control of your career and your life. This framework utilizes a singular core, three cornerstones and twelve principles.  He explains how to apply and execute these principles to reinforce personal fulfillment, growth and progression. 0:00:47: Introducing Dr. Reza Abraham + the framework for staying in control of your life through a core, three cornerstones and 12 pillars0:02:48: The core of taking control: consciousness0:06:41: The first cornerstone: contentment0:08:46: The second cornerstone: consistency0:12:30: The third cornerstone: conversion0:15:05: Five reflection questions to review for intentional growth and progression0:24:17: The first pillar: character0:30:03: The second pillar: communication0:33:16: The third pillar: curiosity0:35:15: The fourth pillar: compass0:38:14: The fifth pillar: courage0:39:22: The sixth pillar: collaboration0:45:46: The seventh pillar: connection0:48:04: The eighth pillar: competency0:52:04: The ninth pillar: companionship0:56:18: The tenth pillar: cash0:56:53: The eleventh pillar: condition1:00:52: The twelfth pillar: contributionResources mentioned: #383: How to Talk About Money with Confidence and Charisma, with Vanessa Van Edwards - Afford AnythingFor more information, visit the show notes at https://affordanything.com/episode391 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#390: We start this episode with two anonymous callers who have opposite problems: one says her bills are too high, while the other is worried that she’s saving too much.Anonymous (“Izzy”) saves A LOT. She wants to relax about her spending more, and start including more joy into her life. How should she approach the next 10 or 20 years, so that she can enjoy her financial security?A different anonymous caller (“Starlight”) has the opposite problem: her expenses are mounting. Her bills make her uncomfortable. She wants to shake up her investments so that she can tap her assets in order to make her payments. Ideally, she’d also like to buy a house in Europe within the next 10 years. How should she do this?John liked the episode with Bill Bengen, where we discussed the 4% rule. However, he questions whether that rule should really be applied to the FIRE community.Steve is a landlord who needs his property to cash flow, but doesn’t like to raise rents. What should he do?Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.Enjoy!For more information, visit the show notes at https://affordanything.com/episode390 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#389: Should you bother investing in real estate … especially from a distance?Is the hassle worth it?What’s the upside? Do you really want this? Or should you just stick with index funds?Isn’t it scary to invest out-of-state?How do you know if you’re ready?In today’s episode of Afford Anything Presents: Invest Anywhere, my co-host Suni Rao and I tackle these common questions.For more information, visit the show notes at https://affordanything.com/episode389 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#388: Recessions are terrifying.Market crashes often bring out the worst in people’s anxieties and fears.This fear triggers us to act even more irrationally than usual – which can lead to making expensive mistakes in our investment portfolios.In today’s episode, Scott Nations, who spent his career studying market volatility, describes some of the most common cognitive biases and irrational behaviors that investors make. He shares tips on how to master the mental game of investing, especially in turbulent times.For more information, visit the show notes at https://affordanything.com/episode388 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#387: Lila is concerned about inflation and the risk of a recession. Should she invest in the stock market, despite the scary headlines? Or should she pay off her primary residence or her investment properties?Linda invested in a 529 for her son’s college, and he’ll be starting in the fall. But, the value of the plan dropped right before she was planning on using it and she is wondering how to keep from losing more money.Jen and her husband want to retire in 8 years. They’re hoping to have paid off their mortgage AND hit their net worth goals when they stop working. How should they prioritize between these two goals?Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.Enjoy!For more information, visit the show notes at https://affordanything.com/episode387 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#386: We all have our secrets.We keep some secrets from bosses, colleagues and clients, like the fact that we hope to retire early, change careers, or start a business.We keep other secrets from friends and family, like our income, net worth, spending habits and investing mistakes.Research from around the world shows that we tend to keep the same types of secrets – around 38 common varieties, including secrets about finances, ambitions, beliefs, habits, unpopular opinions, mental health, trauma, addiction, and drug use.These 38 common types of secrets fall into three categories: (1) moral secrets, which we fear will either cast judgment on us or will cause harm to another; (2) relational secrets, which we fear will harm our relationships; and (3) goal and ambition secrets, related to career, business and finances.In today’s episode, Columbia University professor Dr. Michael Slepian discusses the secret life of secrets.Dr. Slepian is the Sanford C. Bernstein & Co. Associate Professor of Leadership and Ethics at Columbia Business School. Prior to that, he was a visiting scholar at Stanford University.His research focuses on the social costs of secrecy.What impact do secrets have on our lives and health? What are the hidden costs of keeping quiet? Are there certain things that are better left unsaid?What should we share, with whom, and when … especially when there are career, social and financial repercussions to revealing information?Dr. Slepian joins us today to share his insight. Enjoy!For more information, visit the show notes at https://affordanything.com/episode386 Learn more about your ad choices. Visit podcastchoices.com/adchoices