Ask Paula -- Death, Taxes, Crushing Debt and Moving in with Mom

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 2 January 2017

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

#58: Ashley is a single mom saving diligently for her 2-year-old son. What alternatives are there to 529s and brokerage accounts? Julie and her husband invest quarterly. Should she try buying European equities when they are much cheaper due to Brexit? Nicholas and his wife make too much money for a Roth IRA. Should hey do a backdoor Roth? Melissa has money to save, invest, or pay down rentals. What’s her best option? Find more in the show notes at http://affordanything.com/episode58 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.
0:11.6	And that's true, not just for your money, but your time, energy, attention.
0:15.4	So what decisions are you going to make about how you spend and optimize those limited
0:19.8	resources?
0:21.4	Welcome to 2017.
0:23.7	This is the first episode of the year.
0:26.9	My name is Paula Pat, host of the Afford Anything Podcast.
0:31.0	Happy New Year!
0:32.0	Today is the first Monday of the month.
0:34.3	And you know what that means?
0:35.3	It's time for me to answer listener questions, questions that you sent in.
0:39.9	For those of you listening, if you want to send in a question, just head to affordanything.com
0:44.7	slash voicemail.
0:46.0	That's affordanything.com forward slash voicemail, where you can also leave a question that will
0:53.4	be answered on a future episode.
0:56.7	Our first question comes from Ashley.
0:58.7	Hey Paula, I love your show and here's my situation.
1:02.2	I'm a single mother of a two year old son.
1:05.6	Every month I save $150 to $200 in a money market for him.
1:12.3	I'm looking to invest this money as it is constantly growing so that the interest will compound
1:18.0	and so that he will have a financial nest egg once he becomes of age, whether it be to
1:25.1	buy his first car or pay for college tuition or if he decides not to go to college, he may
	...

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