Afford Anything

#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

#262: Tyson is taking a year off of work and plans to devote some of his time to domestic travel, volunteer work, and bolstering his rental property portfolio. He originally planned to travel internationally, but won’t due to the pandemic. How does this plan sound?Jace is wondering whether she should take advantage of the low stock market prices or keep a larger emergency fund due to the pandemic. Which is the better option, given her goal of financial independence?Jace also wants to know: where do you park your money after maxing out a 401k and Roth IRA?Venkat had to relocate after living in a condo for one year. He rents out the condo, but he’s in the red. Should he sell this condo? If so, when?TW has $250,000 in cash that he can use to either pay off his rental property or purchase two more properties. Which is the better option?For more information, visit the show notes at https://affordanything.com/episode262 Learn more about your ad choices. Visit podcastchoices.com/adchoices

For more information, go to https://affordanything.com/tag/psa-thursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

#261: I quit my job at the beginning of a recession and made it work. Two years ago, I did an interview with Lessons From a Quitter explaining how.Given that so many community members want to leave their jobs for something better in the future, whether it's freelancing, self-employment, or early retirement, I'm re-airing the interview.I hope my story sheds light on what's possible in the most inopportune times.For more information, visit the show notes at https://affordanything.com/episode261 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. In this episode, we cover how to manage student loans in the midst of the pandemic with Travis Hornsby, a Chartered Financial Analyst and the founder and CEO of Student Loan Planner. He's an expert in the complex topic of student loans. Travis shares deep insights into the changes that have occurred, and how those changes might alter the way you think about and manage your student loans going forward. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#260: Katelyn wants to fire her financial advisor and move her investments from mutual funds into Vanguard index funds. Should she do this during the pandemic? Or should she wait?Marisa asks: can you invest in a Roth IRA if your income is inconsistent and might exceed the cap?Anonymous Moving-for-a-New-Job had a Simple IRA at her old job that she can no longer contribute to. She also can’t contribute to a 401k until she’s been at her new job for a year. Where should she put her money in the meantime?Anonymous “Olivia” is interested in a Roth conversion ladder, but wants to know: does the pro-rata rule apply here as it does with a backdoor Roth conversion?Mary received an $80,000 grant of RSUs from her employer when she started. These RSUs began to vest after one year, and the price per share has increased 44 percent. What should she do with the shares?My friend and former financial planner Joe Saul-Sehy and I tackle these questions in today’s episode. Enjoy!For more information, visit the show notes at https://affordanything.com/episode260 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#259: Leadership comes in all forms. Whether you’re a small business owner, a manager or department head at work, or the head of a volunteer organization, having a crystal clear vision is critical to success. Without a clear vision, you’re likely to stumble along a path that leads to nowhere -- or worse, a dead end. Wouldn’t it be better to have an idea of where you’re going?Michael Hyatt, a prolific bestselling author on the topics of business and leadership, shares the pitfalls of not having a vision and 10 ways to nail down a solid vision that will lead you to the path you want to be on.Check out bonus resources: http://visiondrivenleader.com/afford Learn more about your ad choices. Visit podcastchoices.com/adchoices

We have muted the podcast thusfar this week, in support of the #amplifymelanatedvoices movement and in support of the #theshowmustbepaused movement. We have assembled a list of resources that highlight books, websites, podcasts, nonprofit organizations and GoFundMe campaigns that I would like to direct your attention to in lieu of our normal programming. These resources can be found at https://affordanything.com/psathursday We are also matching $3,000 in donations to the Committee to Protect Journalists, the Atlanta Community Food Bank, and the Children's Development Association. Please DM me on Instagram with a screenshot of your donation and I'll match it. Instagram: paulapant Learn more about your ad choices. Visit podcastchoices.com/adchoices