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Afford Anything | Make Smart Money Choices

Ask Paula: Are Index Funds Unsafe?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.73.6K Ratings

🗓️ 12 August 2019

⏱️ 72 minutes

🧾️ Download transcript

Summary

#209: Anonymous wants to retire early and often. They’re going overseas, where they’ll make their annual salary within six months. Where should they put their extra income? Anonymous also wants to know: how can they find a financial advisor they can actually trust? Another anonymous listener wants to know - is it possible to spend more while minimizing taxes in early retirement? JuanCarlos asks: is $20,000 too little to invest with a financial advisor? Angela is wondering how to create a Roth IRA account for a teenager. Rose is thinking about switching from mutual funds to index funds because it means encountering less fees, but her and her husband are in their 60s. Does this make sense? Ari has $700,000 to invest in a taxable brokerage account. He wants to know if a 90 percent total stock market index and 10 percent bonds is a good asset allocation. Dave and his wife want to use their defined benefit plans as their primary income stream in retirement, and supplement with Roth and 457 incomes. Where else should they be saving? Myself and former financial planner Joe Saul-Sehy answer these questions on today’s episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode209 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.

0:10.8

Every decision that you make is a trade-off against something else and that doesn't just

0:13.6

apply to your money.

0:14.6

It applies to your time, your focus, your energy, your attention, anything in your life that's

0:18.9

a scarce or limited resource.

0:20.2

And that leads to two questions.

0:21.8

Number one, what matters most to you?

0:24.0

Not what does society say ought to matter most, but what actually is high priority in your

0:29.0

own life.

0:30.0

Number two, how do you align your daily decisions in accordance?

0:34.0

Answering these two questions is a lifetime practice and that is what this podcast is here

0:37.2

to explore and facilitate.

0:38.5

My name is Paula Pat.

0:39.5

I am the host of the Afford Anything Podcast.

0:41.8

Every other week, I answer questions that come from you, the community.

0:45.4

And today, former financial planner Joe Saul Seahe is with me to help answer these questions.

0:50.6

What's up, Joe?

0:51.6

What happened in?

0:53.2

Oh, man.

0:54.2

I am fired up and ready to go.

0:57.0

I just got back from a regional theme park called Cedar Point with my 10 year old nephew.

1:03.3

And I got to say, like they told us when we were getting ready to ride steel vengeance,

...

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