Ask Paula and Joe -- How to Give More to Charity While Also Building Financial Independence

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 4 June 2018

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

#133: Andy from Michigan loved the episode with charity:water founder Scott Harrison. After the episode, he and his 6-year-old daughter started watching videos about charity:water, and now they're both inspired to give. Andy's question is on the topic of giving. His is to reach financial independence within 5 to 10 years. He and his wife are debt-free, including mortgage-free, and their retirement accounts are well-fueled. Now they're working on building passive income. In the meantime, though, they'd like to add a bigger charitable slice to their budget. He's not an overly religious guy, but he feels a calling to make more charitable donations than he does. What advice could we offer about how to boost his giving? JR's wife, before they got married, purchased two timeshares at a 17.9 percent interest rate. When the couple met, and she confessed, they immediately paid off the debt. They're now paying $160 per month in timeshare fees. JR is trying to figure out how to get rid of their timeshare, but he can't find any good options. How can he get rid of this? Angela's husband is turning 50, and she is 43. They're on-track to have $1 million in investments within 7 years. They have two rental properties plus a primary residence, all of which will be paid off in around 7 years, as well. They're active and healthy, but they know this can change quickly. What type of long-term care insurance do they need? Joelle works in the public sector. She has a 457(b) retirement account. How does this differ from a 401(k)? She plans to career-change in the next few years, and she's considering whether to keep her funds inside of her 457(b) or rollover her funds into an IRA. What are the pro's and con's of both? Ines from Portugal wants to start a podcast about financial independence, early retirement and real estate investing, specifically for people who live in Europe. The issues that affect people in Europe are different than those that impact people in the U.S., and she sees a need within the marketplace. What advice would I offer to anyone who wants to start a podcast in this niche? For more information, visit the show notes at http://affordanything.com/episode133 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You can afford anything but not everything.
0:11.2	Every decision that you make is a trade-off against something else and that's true, not
0:14.7	just of your money, but also your time, your focus, your energy, anything in your life
0:19.6	that's a scarce or limited resource.
0:21.9	And so the question's become twofold.
0:23.7	Number one, what's most important to you?
0:25.8	And number two, how do you align your daily behaviors to reflect this?
0:31.1	Answering these two questions is a lifetime practice.
0:33.5	And that's what this podcast is here to explore.
0:36.2	My name is Paula Pat.
0:37.2	I am the host of the Affordable Care Podcast.
0:40.2	Every other week I answer questions from the audience.
0:42.8	Today joining me is a former financial planner, Joe Saul Sihai.
0:47.0	Hey, Joe.
0:48.0	Hey, Paula.
0:49.0	So happy to be back.
0:50.0	Awesome.
0:51.0	Thank you for joining us.
0:52.5	And I'm excited for this first question which comes from our buddy Andy.
0:56.4	Hey, Paula.
0:57.4	This is Andy from Michigan.
0:59.0	First, I wanted to thank you very much for your recent interview with the charity water
	...

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