Episodes
#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...
Published 06/30/20
#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...
Published 06/23/20
For more information, go to https://affordanything.com/tag/psa-thursday
Published 06/19/20
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
Published 06/15/20
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...
Published 06/11/20
#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...
Published 06/08/20
#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...
Published 06/05/20
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...
Published 06/04/20
Let's start with the good news: the majority of U.S. households, 6 in 10, donate money to nonprofits and charities, and 1 in 4 adults in the U.S. volunteer their time and talent. The only way our society is going to get through the struggles and the stresses that we face is if we are good to each other. Compassion and common humanity are crucial. In this PSA episode we discuss strategies around giving, including how to donate money and volunteer time effectively, as well as how to embrace...
Published 05/29/20
“Burned Out in Boston” wants to reach financial independence. But she’s not sure she can stick it out in Boston much longer. She and her husband want to move to an area that doesn’t have many job prospects, and they want to make this leap soon, ideally before they reach FI. How do they know when it’s the right time to jump ship to their dream location? We tackle this topic, plus four other questions about stock market and real estate investing strategy, on today's Ask Paula episode. ...
Published 05/26/20
Hey there! We're in the middle of enrollment week for our course, Your First Rental Property, which is occupying our time and attention, so unfortunately we won't be airing a PSA Thursday episode this week. Bummer! But don't worry!! We'll be back next week with an "Ask Paula" episode on Monday, a PSA Thursday episode about charitable giving, and an interview with business leader Michael Hyatt that'll air the following Monday. We also have two new blog posts -- which you can read here...
Published 05/22/20
#257: “The checking account is like the trash can of personal finance.”   Today’s podcast guest, the famed behavioral economist Dr. Dan Ariely, is not a fan of checking accounts. Or supermarket end caps. Or anything that distracts us from our financial goals.   In this episode, he explains why.   Dan Ariely is one of the world’s most renowned behavioral economists. He’s the James B. Duke Professor of psychology and behavioral economics at Duke University.   His TED Talks have been...
Published 05/18/20
How can you find business and investment opportunities in today’s tough pandemic bear market? What should you do to emerge from 2020 stronger than you started? We cover 7 specific, immediate actions that can set you up to succeed in this recession. Here's a peek: think about hiring a team, create an original piece of work, take online classes, and keep your plans intact (even if that means quitting an unfulfilling job).   For more information, visit the show notes at...
Published 05/14/20
#256: Jon is wondering if now is a good time to move his RRSP into a tax-free savings account, given the market downturn. He knows you can’t time the market, but the opportunity is tempting. What should he do? Laurel’s question revolves around the CARE Act and early withdrawal from a 401k. She needs to rebalance her 401k and wants to buy a rental. Instead of selling stocks, should she sell bonds as a form of rebalancing and to withdraw for a rental property? After seeing so many businesses...
Published 05/11/20
Before the pandemic, the U.S. housing market was strong. Home prices were at historic highs. Borrowers were more qualified than ever, with two-thirds of mortgage originations going to borrowers with excellent credit. As of January 2020, delinquencies (borrowers more than 30 days late on a payment) reached a 20-year low. How has the pandemic affected the market? Are we due for another spate of foreclosures? What's going to happen to housing supply? What about demand? Are buyers still buying?...
Published 05/07/20
#255: When a crisis hits, do you stay calm and collected, or do you launch yourself down a rabbit hole of worry and worst-case scenarios? When the stock market spirals downward, do you shrug and stay the course, or do warning bells explode in your brain? When news of the pandemic hit, was your first instinct to form a calm and reasoned action plan, or rush to the store to buy months of supplies? Your personality influences your reactions to these scenarios. Today’s guest, Dr. Sarah...
Published 05/04/20
Lydia earns income as both a 1099 contract worker and a part-time W2 employee. She filed for unemployment as a W2 worker, but can’t find information on how to file as a contractor. Is there a process contractors can follow to file for unemployment? Florina and her husband have $70,000 in cash to invest. Where should they put this money in light of the current market? Ali and his wife saved eight months of living expenses in their emergency fund in case they get laid off during the...
Published 05/01/20
Published 05/01/20
Welcome back to PSA Thursday, a segment in which we talk about how to handle money, work, and life in the middle of a pandemic. Today, our focus is on money - specifically, the stock market. Why did it crash in March? What effect did that have on us as a society? Why has it rebounded in the middle of a shutdown, and what does that mean? Are valuations too high relative to earnings? How can we handle our investments and retirement savings at a time when the movements of the market seem...
Published 04/30/20
Dr. Steve Wendel is a behavioral economist and the head of behavioral science at Morningstar, an independent investment research firm. Samantha Lamas is also a behavioral researcher at Morningstar. They discuss the hidden biases in our decision making and how these hidden biases affect us - particularly during this pandemic and during times of high anxiety and stress. They also discuss techniques that will help us avoid deceiving ourselves. For more information, visit the show notes at...
Published 04/27/20
The government issued a $2 trillion stimulus. How will that affect the economy? Could we endure massive inflation or hyperinflation? Bradley kicks off today’s Ask Paula episode with this timely question. What inflation rate will we see in 2020, and how can we prepare? How should we hedge against hyperinflation? Anonymous Retiree (whom we call Sequencing Sally) is 64 and retired last year. She lives off of monthly withdrawals from a Vanguard portfolio. Given the bear market, should she leave...
Published 04/20/20
Download the 31 Tips to Stay Productive as you Work From Home at https://affordanything.com/productive
Published 04/16/20
#251: Do you love the idea of making money on your own -- without a boss? Can you imagine deciding how you spend each day? Are you bored and looking for a challenge? Do you love the thought of adventure? Today’s guest, Chris Guillebeau, knows all about hustling, living an unconventional life, working towards seemingly impossible goals, and combining his interests into an epic lifestyle business that brings him freedom and joy. Chris is the New York Times bestselling author of The Art of...
Published 04/13/20
A weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic. Here's how to build an emergency fund during an emergency, and how the bear market affects your investment strategy.
Published 04/10/20
#250: Should we invest in sustainable funds? If we choose sustainable funds, will our investment returns suffer? Will our expense ratios be sky-high? What drawbacks might we face? How do we know that these funds are actually ethical? And what choices are out there for people who want to invest ethically or sustainably? We invited Dr. Jon Hale to our show today to answer these questions. Dr. Jon Hale is a chartered financial analyst and the global head of sustainability research...
Published 04/08/20