Ask Paula - How Can I Get My Friends Interested in FIRE?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 12 November 2018

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

#161: Matt is interested in achieving financial independence, and he wants to encourage his friends to pursue the same goal. What podcast episodes provide a light, digestible introduction to the world of financial independence and retiring early? Daniel wonders why everyone pursuing financial independence seems to have a blog or podcast about this topic. Is the purpose of FIRE to sit around writing and talking about how you’re FIRE? If so, then what’s the point? Tom is an entrepreneur with an LLC in California. Should he buy a rental property through that LLC? Anonymous from California wants to know how I decide whether to use a property manager vs. self-manage my rental properties. She also wants to know how to estimate the cost of repairs and maintenance. And how should the tax benefits of rental properties play a role in choosing a property? Brett owns a rental property in Las Vegas, which used to be his primary residence. He’s getting a strong cap rate but a marginal return on equity. Should he hold the property in the hopes that it will rise in value? Or should he sell the property? Anonymous is an Indian citizen who lives in California on an H1-B visa. There’s a chance that his visa won’t be renewed, which means he’ll need to move back to India. What should he do with his rental properties? Can he manage his properties from another country? If so, should he purchase more? I answer these six questions in today’s episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode161 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	You can afford anything but not everything.
0:10.6	Every decision that you make is a trade-off against something else.
0:13.0	And that doesn't just apply to your money, it applies to your time, your energy, what
0:16.9	you do all day every day.
0:18.5	You can do anything but not everything.
0:20.4	And you can afford anything but not everything.
0:22.8	So what trade-offs are you going to make?
0:24.8	Well, in order to answer that question, you really have to unpack two sub-questions.
0:29.7	Number one, what's most important to you?
0:31.8	What do you value beyond anything else?
0:33.9	And number two, how do you live your daily life in accordance with those values?
0:38.9	To answer these questions is a lifetime practice.
0:41.9	There are no simple answers, but it's something that we work on every single day, and that's
0:46.0	what this podcast is here to explore.
0:48.4	My name is Paula Pat and the host of the Afford Anything Podcast and the founder of Afford
0:52.7	Anything.com.
0:54.5	Every other week we interview a guest and on the weeks in between, we answer questions
0:57.7	that come from you, the community.
1:00.0	Today's episode is going to be a little bit unusual because in one out of every four
1:05.1	episodes, I specifically answered questions that you ask about the topic of real estate
1:10.9	investing.
1:11.9	But lately, we've been getting a different genre of question, we've been getting a different
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Paula Pant | Cumulus Podcast Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Paula Pant | Cumulus Podcast Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.