Ask Paula | 10-Year-Old Asks: How Do I Save for My First Car?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.7 • 3.6K Ratings

🗓️ 30 August 2023

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

#459: Andrey is a savvy 10-year-old wondering what’s the best way to save up for his first car. Ingrid wants to know if her parents’ preference for Retiring on Dividends is a better approach compared to the 4 Percent Rule. Erica’s part-time work schedule will place her in an unusually low tax bracket this year. Should she take this rare chance to execute a Roth conversion? Or is it better to prioritize debt payoff? Chloe is worried about the end of student loan forbearance. Should she pull back from making retirement contributions to focus on debt payoff? Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hey, Joe, when you were 10, did you ever think about money?
0:02.6	No, I thought about stuff, but I never thought about money.
0:06.2	Ah, well, you're about to be shown up.
0:09.5	Not the first time.
0:11.0	No, yeah.
0:13.5	Oh, welcome to the report, anything podcast.
0:16.0	This is a show that understands you can afford anything, but not everything.
0:20.0	Every choice that you make is a trade-off against something else.
0:22.5	And that doesn't just apply to your money.
0:24.0	It applies to your time, your focus, your energy, your attention,
0:27.5	any limited resource that you need to manage.
0:29.5	So, that leads to two questions.
0:32.0	What matters most?
0:33.0	And, how do you make decisions accordingly?
0:36.5	Answering those two questions is what this podcast is here for.
0:39.5	I'm Paula Pant.
0:40.5	I am the host of the show.
0:41.5	And every other week, my buddy, former financial planner, Joe Saw-Chi,
0:45.5	and I tackle questions that come from you.
0:48.0	What's up, Joe?
0:49.0	We just booked you tickets so we can be in the same room in Denver.
0:54.5	Yes, we are going to go to a conference called PodcastMove.
	...

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