Ask Paula: How Can I Get the Most from My Mini-Retirement?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 25 November 2019

⏱️ 84 minutes

🔗️ Recording | iTunes | RSS

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Summary

#227: Lien is taking a year off of work to live the van life with her husband. She wants to know how she can make the most of this sabbatical to figure out how to turn her less-than-inspiring career into a lifestyle that she loves. Lien called in again to say that she wants to start a new business and a family when she returns from her gap year. Her former job offered excellent health benefits and maternity leave, but she doesn’t really want to go back. What should she do? Eddie wants to build his real estate portfolio. How should he approach downpayments - put down more to net more profit, or put down less to acquire more properties? Wilson is wondering if it’s a good idea to partner with a friend on real estate ventures. What are the downsides? Wilson also wants to know about real estate business expenses, and the pros and cons of short-term rentals vs. long-term rentals. Sean has an inconsistent employment history and is struggling to find a lender that will give him a mortgage. He wants to know if there are any other ways he can get a mortgage for a 4-plex? An anonymous listener is thinking about taking the leap into real estate investing and wants to know how to overcome the fear they have about it. Also, should they put all of their savings towards real estate? Anonymous is also wondering: how do you calculate net worth when you’re married? For more information, visit the show notes at https://affordanything.com/episode227 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.
0:10.9	Every choice that you make is a trade-off against something else and that doesn't just
0:13.6	apply to your money.
0:14.8	That applies to your time, your focus, your energy, your attention, anything in your life.
0:19.2	That's a limited resource.
0:20.8	And that leads to two questions.
0:22.5	What do you value most?
0:23.9	And how do you live a life in accordance?
0:27.3	Having these two questions is a lifetime practice and that's what this podcast is here to
0:30.6	explore.
0:31.6	My name is Paula Pat.
0:32.6	I am the host of the Afford Anything Podcast.
0:34.4	I am recording this episode from Ecuador.
0:37.6	I'm spending three weeks here with a group of people, largely from the Afford Anything community,
0:43.3	people who will listen to this podcast and the financial independence or FI or FI community
0:47.8	in general.
0:48.8	I'm spending this time here in Ecuador, three weeks here with them to talk about how to
0:54.2	create a more meaningful life.
0:57.3	In today's episode, I'm answering questions that come in from the community and this first
1:01.7	question which comes from lean is perfectly fitting.
1:05.6	Hi Paula, I need your help.
1:08.7	Inspired by the FI community and principles, my husband and I made a big leap to sell
	...

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