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Afford Anything | Make Smart Money Choices

Ask Paula: How Can I Reach FIRE in 11 Years?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.73.6K Ratings

🗓️ 16 February 2021

⏱️ 88 minutes

🧾️ Download transcript

Summary

#301: Amelia is worried that she and her husband are under-insured. Should her husband get a short-term disability policy, even though it’s expensive and they’re unlikely to need it? Sarah wants to refinance her owner-occupied triplex, but she’s torn between a 15-year and a 30-year option. Which is better in her situation? Steven just discovered the financial independence (FI) movement in July 2020, and he wants to reach FI in 11 years. He has $30,000 in cash and $26,000 of student loan debt. How should he use his cash given his FI goal? The South American Anthropologist wants to make a career change. His baby daughter has inspired him to become an example of living life on your own terms. Will his financial independence plan sustain him and his family for years to come? Annalis and Mike are hunting for their first rental property, but they haven’t found anything nice that meets the one percent rule. Should they purchase a mansion and rent the rooms on Airbnb? For more information, visit the show notes at https://affordanything.com/episode301 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.

0:11.3

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

0:14.3

apply to your money.

0:15.4

That applies to your time, your focus, your energy, your attention, anything in your life.

0:20.6

That is a scarce or limited resource.

0:23.3

Saying yes to something implicitly means that you're saying no to other opportunities and

0:27.4

that opens up two questions.

0:29.0

First, what matters most?

0:30.8

Second, how do you align your daily, weekly, monthly, yearly decisions to reflect this?

0:36.5

Answering those two questions is a lifetime practice.

0:39.4

And that is what this podcast is here to explore.

0:43.0

My name is Paula Pat.

0:44.0

I am the host of the Afford Anything Podcast.

0:46.9

Every other episode ish.

0:49.0

I answer questions from you, the community.

0:51.7

And today, former financial planner Joe Saul Seahye joins me to answer these questions.

0:56.5

What's up, Joe?

0:57.5

I just wish people could see behind the scenes and know that for the first time that you

1:01.7

and I have done this together, I'm surprised we made it this far in the show.

1:05.8

I know, right?

1:08.3

So behind the scenes, I just had to, that intro, we've done like four or five retakes of

1:14.3

it.

...

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