Ask Paula: Could the Stock Market Be Too Much of a Gamble?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 2 November 2020

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

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Summary

#283: Andrea’s parents have a seemingly salesly financial advisor. He tried to get them to purchase a second life insurance policy, among other potentially pushy moves. Are her parents better off without his advice? Teresa can’t shake the feeling that the stock market is more of a gamble than an investment. Is there any advantage to holding funds for the long-run if the market drops and you lose your gains? June is curious about the best college planning strategies for families who are working toward, or close to, financial independence. How can you help your children while securing your financial future? Big Sister’s little sister rents a mobile home in an area she loves. The owner wants to sell, but her little sister might not obtain financing. Should Big Sister buy the property and sell it to her via seller financing? Managing for Mom in Massachusetts has an investment strategy that he wants to run by us. Does it make sense to shift a 50/50 stocks and bonds portfolio to 100 percent stocks, and shift back to a 50/50 split after the market returns to pre-pandemic numbers? My friend and former financial planner Joe Saul-Sehy joins me to answer these questions. Enjoy! For more information, visit the show notes at https://affordanything.com/283 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.
0:11.0	Every choice that you make is a trade-off against something else and that doesn't just
0:13.7	apply to your money.
0:14.9	That applies to any limited resource in your life, like your time, your energy, your attention,
0:19.7	your focus.
0:21.0	Saying yes to something implicitly means, saying no to other opportunities.
0:25.7	And that opens up two questions.
0:27.5	First, what matters most to you?
0:29.1	And second, how do you make decisions that reflect that?
0:33.4	Answering these two questions is a lifetime practice and that's what this podcast is here
0:36.6	to explore.
0:37.6	My name is Paula Pant.
0:38.6	I am the host of the Afford Anything Podcast.
0:40.9	Every other week we answer questions that come from you, the community.
0:44.0	And today my buddy Joe Salcihi, former financial planner and recent COVID-19 survivor is with
0:51.2	me to answer these questions.
0:53.1	What's up, Joe?
0:54.1	Oh, not, you know, just not sleeping because I slept for like six or seven days.
1:01.8	I don't remember, but it was a long time.
1:04.8	And yes, I'm a life.
1:05.8	Thank you, by the way, everybody who wrote to me and with the well wishes and Paula, thanks
1:10.5	for letting everybody know that I was alive and that I was doing fine.
	...

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