Afford Anything

#293: Geoff Woods, Vice President of The ONE Thing and host of The ONE Thing podcast, is an expert on ruthless prioritization, habit development, and goal setting.The simple framework he presents allows you to focus deeply and commit to the actions you need to take if you want to take your productivity to the next level this year.For more information, visit the show notes at https://affordanything.com/episode293 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Sign up to take the 31-Day Challenge for an Awesome 2021 at https://affordanything.com/31daychallenge Learn more about your ad choices. Visit podcastchoices.com/adchoices

#292: Three Kids, FI has an all-equities broad stock market index portfolio that he’s held for years. He’s confident he can handle maximum volatility, so what investments can he lean into to that will provide him with great long-term returns?Jordan is a new listener and he has three questions: should he use $100,000 to buy more rental properties or invest in a brokerage account? Should he and his wife upgrade their home and buy a property that’s worth double their current home? And finally, how can self-employed individuals who earn more lower the cost of health insurance?Alex’s wife lost her job due to the pandemic. They live in Washington state and are married filing separately due to his wife’s student loans. Can he use half of his income to qualify her for Roth IRA contributions?Sarah rounds out this episode with a concern: a financial advisor told her that investing in VTSAX over-indexes her in large cap funds and technology stocks. Is this true, and what should she do about it?I answer these four excellent questions on today’s episode. Enjoy!For more information, visit the show notes at https://affordanything.com/episode292 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Welcome back to PSA Thursday, a weekly-ish segment in which we talk about how to handle money, work, and life in the year that is 2020. Today, we focus on the importance of end-of-year tax planning before you ring in 2021. We cover these tips: Open a retirement account  Adjust your tax withholdings Check your 529 Plan  Make charitable contributions Why this could be a good year to make a Roth conversion Spend down the balance in your FSA For more information, visit the show notes at https://affordanything.com/psathursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

#291: Tracy Tutor is the author of Fear is Just a Four-Letter Word as well as the first female real estate broker on Million Dollar Listing LA. Tracy took her 20 years of experience in the industry and distilled the lessons she learned into this book.During our conversation, she shares tips and tactics for overcoming a fear of speaking out, how humor can help us connect with others, and why it’s important not to silence our inner voices.For more information, visit the show notes at https://affordanything.com/episode291 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#290: Sharon owns two condos that are worth $1.4M and has a cash cushion of $120,000 plus a $50,000 emergency fund. She’d like to move into a small house while keeping her cash cushion intact. Should she take out a home equity loan on her mortgage to essentially pay for her house in cash, or get a traditional mortgage and use her savings towards the downpayment?Jury and her partner are torn between two options: buying a condo, which would allow them to live off of one salary and invest the other, or buy a more expensive house – a much more attractive lifestyle option. Which should they purchase?Daine’s IRA balance is a result of 401k rollovers. He’s concerned that his lack of monthly contributions cause him to miss out on compound interest. What can he do to grow his retirement funds?Molly and her husband want to reach financial independence (FI) in 15 years, at age 50. They’re unsure of whether their rental property income will sustain their FI lifestyle. How can they plan for this?I answer these questions in today’s episode. Enjoy!For more information, visit the show notes at https://affordanything.com/episode290 Learn more about your ad choices. Visit podcastchoices.com/adchoices

An update on the latest news in student loan forgiveness and forbearance, plus smart strategies for student loan repayment in 2021. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#289: Josh Kaufman, bestselling author of The Personal MBA, discusses the five parts to every business and how this information applies to everyone - not just entrepreneurs.He shares many examples and ideas on how to level up your business or career through simple steps.For more information, visit the show notes at https://affordanything.com/episode289 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#288: Karen and her wife are in their 50s, financially independent, and partially retired. They need $150,000 to buy a new home, and they aren’t sure which option is best. Should they take advantage of the CARES Act and pull money from their traditional IRAs? Raid their Roths? Or take out a mortgage?Ingrid’s mom is retiring this year. To fund her retirement, she’ll sell her property for $1 million. How should she invest this money so that she can live off of it in perpetuity?Elaine has saved $20,000 in a 529 plan for each of her two kids, but she realizes that they may not attend college. Should she keep the 529 plans, or save money elsewhere?Amanda is afraid to tap the equity in her home and use it to purchase a rental property. How should she think through whether this move is right for her?Lisa and her family plan to sell their home and move across the country. They might have the option to pay cash for a home, but they also want to buy an investment property. Should they get a mortgage on their new home or pay cash?My friend and former financial planner Joe Saul-Sehy joins me to answer your questions on this episode. Enjoy!For more information, visit the show notes at https://affordanything.com/episode288 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Many people in the personal finance / FIRE community have a complicated relationship with the concept of consumer spending. They may see family, friends and neighbors demonstrate one extreme -- they’re profligate spenders who will buy anything -- and, in an effort to be nothing like them, they may overcompensate by becoming extreme penny-pinchers. (I see this often at the start of a person’s FIRE journey, when the pendulum is swinging sharply in the other direction). The reality is that neither extreme is healthy. There’s a middle ground between being so gullible that you’ll buy anything vs. being so cynical that you build a wall that shuts real value out of your life and hampers your growth. In recognition of that balanced middle path, today’s PSA Thursday episode focuses on five questions that you should ask yourself before making a purchase. #1: Do I have high-interest debt or an inadequate emergency fund? #2: Is this a purchase or an investment? #3: How long have I been thinking about this? #4: Is this only serving an emotional need, or does it also have greater utility? #5: The five “ity’s” -- longevity, durability, applicability, versatility, utility. We elaborate on these five points in today’s PSA Thursday episode. Enjoy! For more information, visit the show notes at https://affordanything.com/psathursday Learn more about your ad choices. Visit podcastchoices.com/adchoices