Afford Anything

#268: Natasha has $3,300 per month to either invest or use toward an early mortgage payoff. Which option should she choose?An anonymous caller and military member wants to know if she should move money from a USAA brokerage to Vanguard to pay less in fees. Her goal is to retire in 12 years with $3,000/month in passive income from rental properties, which will supplement her military pension. Should she only contribute to her TSP up to the match, and invest the rest in rentals?Chaim and his wife live in the Middle East and have $30,000 in a U.S. bank account. However, they don’t plan to relocate. How can they best use this money?June and her husband are in a sticky situation: they bought their dream house in Michigan last winter, ahead of plans to relocate there. June lives there with their kids, but her husband is unable to find a job despite the numerous contacts he has in the state. He currently works in a job that he dislikes in Southern California, living apart from his family. They’re currently a one-income family, though June has plans to open a firm in Michigan. What should they do?Anonymous in Portland has three questions: is a 75/25 US stock/international stock split aggressive? Is an S&P 500 index a close enough equivalent to a total US stock index? Is Betterment worth it for automatic tax harvesting?My friend and former financial planner Joe Saul-Sehy joins me to answer these questions. Enjoy!For more, go to https://affordanything.com/episode268 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Welcome back to PSA Thursday, a mostly-weekly segment (sometimes on Thursdays) in which we talk about how to handle money, work, and life in the middle of a pandemic. This week, we continue the conversation on what landlords can do to create and maintain open lines of communication with tenants. Doing so can help you avoid a situation in which your tenants ghost you. If you find these tips helpful, head to https://affordanything.com/psalandlord to download word-for-word scripts you can use with your tenants. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#267: This week, one of the most acclaimed names in the world of personal finance journalism joins us to reflect on the events of 2020.Farnoosh Torabi started covering personal finance in 2003 as a reporter for Money Magazine. She later became a correspondent for Jim Cramer's The Street and the host of CNBC's primetime show Follow the Leader. She's the host of the award-winning So Money podcast and the author of several bestselling personal finance books, including When She Makes More: 10 Rules for Breadwinning Women.She's a contributing editor to NextAdvisor, a personal finance platform in partnership with TIME, as well as a financial columnist to O, The Oprah Magazine and a contributing editor for Bloomberg Business.She joins us to discuss how the events of 2020 have led to a great financial reckoning.You'll enjoy this if:- You want to hear candid discussion about race, privilege, and the wealth chasm- You're curious to hear about how the personal finance landscape has changed in the last two decades- You're wondering if, in fact, "this time it's different"For more information, visit the show notes at https://affordanything.com/episode267 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#266: Paul’s parents own a property worth $100,000, and they owe $80,000 on the mortgage. If he wants to buy this property from them, how should he do it?Max is torn between investing in a rental property or taking advantage of a mega backdoor Roth 401k through his company. Which is the better option?Ali is a travel nurse and wants to get into real estate investing. Should she buy a duplex that needs fixing up or a cheaper apartment that’s rent-ready?Kate and her husband own a townhome that has appreciated substantially, but they need a bigger house. They’re wondering: is it wise to keep it, rent it out, and use a cash-out refinance as a downpayment on their next property?I answer these questions on today's episode. Enjoy!For more information, visit the show notes at http://affordanything.com/episode266 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Welcome back to PSA Thursday, a mostly-weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic. This week, our focus is on answering a question that many landlords in our community have asked in recent months: what do we do when our tenants can't pay the rent, and our bills are due?  To answer this, we asked Alieza Durana, a journalist who works with the Eviction Lab at Princeton University, for her expertise.  The Princeton Eviction Lab is a group that rigorously researches the causes and consequences of the affordable housing crisis, housing instability, and the impact of evictions. Alieza shares data gathered from The Eviction Lab and offers tips for landlords who want to be part of the solution, but struggle with the reality of having their own bills to pay.   For more information, visit the show notes at https://affordanything.com/psathursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

#265: Are you the same person you were five years ago? Ten years ago? Fifteen years ago?Of course not. Things in your life have changed: your interests, hobbies, decision-making process, and habits are different than they were a decade ago.Likewise, our personality changes -- and this means we can decide who we want to become.Today’s guest, organizational psychologist Dr. Benjamin Hardy, literally wrote the book on personality impermanence. During this episode, he shares research on why our personalities aren’t as fixed as we think they are and the strategies we can use to change.Dr. Hardy is the bestselling author of Willpower Doesn’t Work and Personality Isn’t Permanent. He’s a contributor to Inc. and Psychology Today. From 2015-2018, he was the number one writer on Medium.com.If you want to rise to the level of your goals, rather than fall to the patterns of your past, this episode is for you.For more information, visit the show notes at https://affordanything.com/episode265 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Welcome back to PSA Thursday, a mostly-weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic.This week, we focus on life and staying safe when venturing outside of your home.Many of us are concerned with reducing the risk of coronavirus infection in places like grocery stores, gas stations, or backyard BBQs, but the guidelines on how to stay safe aren't always clear.In this episode, we discuss specific precautions to take... When using a public toilet When picking up food at a quick-serve restaurant When you're exercising at the gym When filling your car with gas In your general day-to-day life when you're out and about For more information, visit the show notes at https://affordanything.com/psathursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

#264: An anonymous listener, whom we call “Mary,” is curious about the auto-rebalancing feature offered by M1 Finance. Is it too good to be true?J isn’t happy with the target date retirement fund she chose for her 401k. She has limited options and is wondering: should she move funds around? If so, is now a bad time, considering the market volatility?Another anonymous listener is wondering how to choose the right mix of investments for a retirement portfolio. She also wants tips on rebalancing a portfolio. And when should she execute a Roth conversion?Tami has $160,000 in a G fund in her TSP. Should she move this money to a Lifestyle fund to increase her earnings?Andy and his wife contribute the maximum to their children’s 529 accounts, and they have three investment options to choose from. Should they continue with an aggressive managed portfolio, or choose something less risky?My friend and former financial planner Joe Saul-Sehy and I answer these questions on today’s episode. Enjoy!For more information, visit the show notes at https://affordanything.com/episode264 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Here's the sordid history of the Payroll Protection Program, plus four additional options for getting pandemic relief as an entrepreneur. In this episode we share the following resources for small businesses: Economic Injury Disaster Loans (EIDL) Employee Retention Credit. SBA 7(a) Program Mainstream Lending Program   For more information, visit the show notes at https://affordanything.com/psa-thursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

#263: It’s been a tough year, and we’re only halfway through it.Today’s guest has insights and actions to help you build financial resilience in 2020. Not only will you emerge from the events of this year stronger, you’ll also face future personal challenges and economic downturns with more confidence and knowledge.Our guest is Dr. Brad Klontz, a clinical psychologist and Certified Financial Planner. He’s the author of five books on the psychology of money, a founder of the Financial Psychology Institute, a managing principal of Your Mental Wealth Advisors, and a fellow of the American Psychological Association. He’s also a former associate professor of personal financial planning at Kansas State.Dr. Klontz appeared on our show in April 2018 to discuss unhealthy attitudes towards money. We invited him back for his expertise on coping with recent situations and developing financial resilienceFor more information, visit the show notes at https://affordanything.com/episode263 Learn more about your ad choices. Visit podcastchoices.com/adchoices