Afford Anything

#314: Briale opened a Variable Annuity inside a 403b at work when she was 23. She has 17 years to go before retirement. As an elementary school teacher, her pension will be $6,000 per month. Should she stop contributing to the annuity and contribute to a Roth IRA instead?Hunter put a credit freeze on his two children’s credit, which required sending each credit union documentation via mail. Experian and TransUnion confirmed the credit freeze, but Equifax didn’t. Upon calling, the representative gave Hunter a different mailing address for the documents. What should he do?Debi has an extra $1,000 each month and isn’t sure where to save it. She also has $10,000 in a CD which will reach maturity in August 2021. Her goal is to buy a residence in the next five years. Should she save this all for a downpayment?Anonymous is concerned about her parents retirement portfolio. Their advisor charges a fee of 1.5 percent assets under management. Her parents are frugal and they don’t realize how much they’re paying. Should she talk to them, or drop the issue?Sarah isn’t sure whether she should put more of her savings towards a Roth 401k or a 529 fund for her future kids. Which option is best if she wants financial flexibility?My friend and former financial planner Joe Saul-Sehy joins me once again to tackle these questions. Enjoy!For more information, visit the show notes at https://affordanything.com/episode314  Learn more about your ad choices. Visit podcastchoices.com/adchoices

#313: Do you know the unspoken rules about how to get ahead in your workplace or industry (and as a result, how to earn more)?Unspoken rules, and the corresponding social norms, create a major impact in how we’re perceived in the workplace -- and therefore how often we’re promoted.But these rules are rarely taught.Managers expect us to understand these implicit rules, but they never explain them to us.How are we supposed to succeed?Gorick Ng, a career advisor at Harvard who specializes in working with first-generation, low-income students, shares his wisdom on navigating the workforce at all stages of your career.His advice can help you make more money, get promoted, and accelerate your ability to save and invest.For more information, visit the show notes at https://affordanything.com/episode313 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#312: After paying basic living expenses and maxing out their 401k’s and Roth IRAs, Caroline and her partner have $4,000 - $5,000 left each month. Where should they put this money if their goal is to simply have their money work harder for them?Sanjay is torn between selling his townhome or renting it out. The rental numbers don’t work on his 15-year mortgage -- should he refinance to a 30-year mortgage instead?Kyle wants to construct a portfolio with the highest Sharpe ratios and wants to know: would the risk parity model work? What are the downsides?G is curious: does the stimulus check received for their children count as earned income for the kids? If so, can they put it toward the Roth IRAs they opened for their children?Anonymous has two unrelated questions: what are our thoughts on the housing market in relation to the moratoriums on mortgage payments and emergency bans on evictions? What will happen when they go away? Additionally, what tools, questions, or resources do we recommend to have a productive financial conversation with your partner?Finally, another anonymous caller wants to know: do they need to submit receipts for the HSA contributions they make?My friend and former financial planner, Joe Saul-Sehy, joins me as usual to tackle these questions. Enjoy!For more information, visit the show notes at https://affordanything.com/episode312 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#311: Do you find yourself overthinking and getting stuck in unproductive thought loops?According to a study commissioned by today’s guest, 99.5 percent of 10,000 people said they overthink. Chances are, you can relate.That guest is Jon Acuff -- a New York Times bestselling author who loves to nerd out about goals. In this discussion, he shares 10 signs you're overthinking, explains the differences between overthinking and being prepared, and presents a framework called the three R’s (retire, replace, repeat) that can transform your destructive thought loops into healthy soundtracks.For more information, visit the show notes at https://affordanything.com/episode311 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#310: Greta is tired of financial modesty. She wants to achieve financial independence through diversified income streams, and has her eyes set on owning local duplexes. What should she focus on to make this happen? Jeannie wants to know: when should you scale back 401k contributions so you can invest in something else, like real estate?Steph and her husband came into $25,000 and aren’t sure what to do with it. Should they pay off their student loans, save it towards a house and starting a family, or purchase her company stock options?J from California is curious: how do you strike a balance between optimization and simplicity in your financial plan? Dawn has $65,000 in a 403b through Ameriprise and the fees associated with it are outrageous. Should she take the money out and put it elsewhere, or leave it? My friend and former financial planner, Joe Saul-Sehy, joins me to answer these five questions. Enjoy!For more information, visit the show notes at https://affordanything.com/episode310 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#309: Are we in a housing bubble?Are we going to see a repeat of 2006 all over again?Are there any good investment deals to be found right now?These are the questions playing on many people's minds, and we seek to explore the answers in today's First Friday bonus episode.We start by exploring some of the forces that are at play in today's real estate market. What separates the market of 2006 from the market of today?In the second half of the episode, Paula explains how and why she chose to buy a duplex in Indianapolis, despite it being a seller's market. There are deals to be had if you know where to look and what to look for. Enjoy!For more information, visit the show notes at https://affordanything.com/episode309  Learn more about your ad choices. Visit podcastchoices.com/adchoices

#308: Ziggy purchased an $890,000 property in San Mateo, CA in 2016. After living there for a year, he had to move, so he rented it out. Unfortunately, it’s cash flow negative. Is this property worth holding onto, or should he sell?Vivek has a paid-off primary residence that he’s interested in renting out for a few years, before selling. He’s worried about capital gains tax – does turning the home into a rental impact the amount he’ll pay?Anonymous in Virginia wants to travel after retiring, which will increase her expenses for the first seven or so years of her retirement. How can she plan for a higher withdrawal rate at the beginning of retirement, and a lower withdrawal rate in the middle of her retirement?Given the talk around student loan forgiveness, Jess wants to know: should she pay the minimum on her student loan debt and save the payments she would otherwise make? Or should she keep throwing extra at her higher interest loans?My friend and former financial planner, Joe Saul-Sehy, joins me to answer these questions on today’s show. Let’s dive in!For more information, visit the show notes at https://affordanything.com/episode308 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#307: “Taxes are the single biggest factor that separates people from their retirement dreams.”That’s a quote from today’s guest, Ed Slott, a nationally recognized IRA distribution expert, practicing CPA, and bestselling author. He argues that there’s a high likelihood that tax rates could rise in the future, and as a result, we need to shovel more money into tax-exempt accounts like Roth IRA and Roth 401k’s.Ed says taxes are one of the biggest threats to our retirement plans, and draws attention to tax events that catch seniors by surprise, such as the so-called “widow/widower” tax. If you’re wondering how taxes could derail your retirement -- and what you should do about it -- you’ll learn an enormous amount from this episode.For more information, visit the show notes at https://affordanything.com/episode307 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#306: Jake and his wife want to retire in five years, at which point they’ll have 14 years before they can access their 401k funds. To help bridge that gap, Jake wants to know: what should their asset allocation look like for their taxable brokerage account?This year, Kim’s employer enrolled all employees into a “fully funded indemnity program combined with a nationwide direct primary care membership.” What the heck is this program, and how might it impact Kim’s finances?Burnt Out in Boston is switching their focus from financial independence to taking a mini-retirement. How can they financially and mentally prepare for this leap?Matthew is torn: should he and his wife -- both 26 -- max out their Roth IRAs and then save up for a rental property, or simply save cash for the rental and worry about their Roth later?Finally, Deva and her husband are fed up with their messy tenants. They’re kind and responsible, but they’ve left the yard a mess. They have a clause in the lease that addresses this, so beyond that, what can they do?My friend and former financial planner, Joe Saul-Sehy, joins me to answer these questions on today’s show.Enjoy!For more information, visit the show notes at https://affordanything.com/episode306 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#305: Financial independence is a continuum, a spectrum. How do you know where you stand?In this episode, financial writer JD Roth discusses the seven stages of financial independence, the seven rules of investing, the formula for calculating your lifetime wealth ratio, and the importance of managing your career as though it’s an asset.For more information, visit the show notes at https://affordanything.com/episode305 Learn more about your ad choices. Visit podcastchoices.com/adchoices