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Afford Anything

Ask Paula: Did the Great Recession Lead to the FIRE Movement?

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.63.4K Ratings

🗓️ 20 July 2022

⏱️ 55 minutes

🧾️ Download transcript

Summary

#392: Colleen and her husband own SEVEN paid off rental homes. Now they’re heading into retirement and disagree on what to do with some of that equity. Kevin wants to hit FIRE (Financial Independence, Retire Early) and believes his motivation comes from witnessing the financial trauma of the Great Recession. He’s wondering if others are motivated to reach FIRE for similar reasons. Anonymous wants to learn more about utilizing HSA accounts and Susan wants to learn more about investing in tax liens. In today's episode, former financial planner Joe Saul-Sehy and I tackle these tough questions. Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode392 ________________________________________ 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.

0:11.1

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

0:14.0

apply to your money.

0:15.0

That applies to your time, your focus, your energy, your attention to any limited resource

0:19.8

that you need to manage, saying yes to something implicitly means, turning away other opportunities.

0:25.8

And that opens up two questions. First, what matters most? And second, how do you align

0:30.9

your decision-making around? That which matters most?

0:34.9

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

0:38.5

here to explore and facilitate. My name is Paula Pat. I am the host of the

0:42.8

Afford Anything Podcast. Every other episode we answer questions that come from you, the

0:47.6

community. And my buddy, former financial planner, Joe Saul Seahye, joins me to answer these

0:53.4

questions. What's up, Joe?

0:55.4

Hi, I'm sitting here watching you get ready to answer questions and eat a grapefruit.

1:00.0

Yes. I had exactly what I said right before you started recording. I was like, I need

1:04.6

to grab a glass of water and a grapefruit and then I'm ready to go.

1:07.2

Because nothing says I'm ready to podcast like grabbing a grapefruit.

1:12.9

Healthy body, healthy mind. Absolutely. Yes. But I got to tell you, if you're

1:17.2

chewing on a grapefruit while I'm answering a question, it's going to be a little distracting.

1:21.7

So I'll be sure that you directly into the microphone.

1:26.6

I did have this. Can I tell you this little story when I was on Channel 7 in Detroit,

1:31.0

is there money man? I had one anchor. She was a backup anchor. And she would always, when

1:37.2

she knew that the camera shot was on me and me alone, she would pick her teeth, Paula.

...

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