Afford Anything

#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

#385: Anonymous (“Jennifer”) keeps hearing us say that you should “start with the end in mind” – that your investments should match your goals and timeline. But what if you don’t have any specific financial goal? What if your risk tolerance is different than you once thought?Rachel’s new employer won’t let her contribute to retirement for more than a year - what should she do??Carri’s parents are in poor health and can’t work much - what should they do about their life insurance policy and their health insurance?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/episode385 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#384: Welcome back to the third episode in our special series, Afford Anything Presents: Invest Anywhere.Invest Anywhere is a new monthly series that runs on the First Friday of each month. It lays out the information you need to invest in real estate at a distance.Many of you want to invest in real estate, but you live in a high-cost-of-living area. (Ahem, California and New York). The homes in your city are prohibitively expensive, and they offer lackluster returns.You could invest in a lower-cost area like Cincinnati, Indianapolis, Omaha or Wichita … but HOW? That sounds terrifying.We’re here to dismantle that fear, piece by piece, by sharing our knowledge and experience.The Invest Anywhere series is dedicated to giving you the guidance you need to make smart, confident choices about investing out-of-state.It’s co-hosted between myself (Paula) and esteemed real estate investor Suni Rao, who’s experienced everything ranging from buy-and-hold rental investing to (accidentally) wholesaling. She’s managed short-term and long-term rentals. She’s owned houses, multi-units, and even a mobile home park. She joins me in this episode to talk about a variety of strategies that will help you make money in real estate.For more information, visit the show notes at https://affordanything.com/episode384 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#383: Behavioral researcher Vanessa Van Edwards, who runs the research lab Science of People, breaks down the psychological secrets behind feeling and looking more confident, competent and charismatic.She explains how to apply these techniques to critical conversations around money, whether you’re negotiating your salary, buying a home or car, or arguing with your spouse about your household spending.Subscribe to get the show notes delivered via email, for free, at https://affordanything.com/shownotes Learn more about your ad choices. Visit podcastchoices.com/adchoices