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Afford Anything | Make Smart Money Choices

Ask Paula: How Can I Retire in 12 Years?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.73.6K Ratings

🗓️ 31 December 2019

⏱️ 74 minutes

🧾️ Download transcript

Summary

#233: Deepak is considering downsizing his family’s home, but wants to know if the savings are worth the transaction costs he’ll have to pay. Anonymous and her husband hold $900,000 worth of privately-owned company stock. How should they plan for handling this money? Shelby is 25 years old and works for a company that awarded her restricted stock units. What should she do with these? Additionally, she traded in a 2013 Prius for a 2018 Subaru, for which she now owes $19,000. Should she sell it for a used vehicle or stick it out? Katelyn is interested in learning more about annuities. What should she know in order to make an informed decision? Max FI and his wife want to retire in 12 years. How should they invest to achieve this? Anonymous’s former employer offered a Roth and Traditional 401k, and his new employer only offers a Traditional option. How should he rollover his former Roth 401k? For more information, visit the show notes at https://affordanything.com/episode233 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.

0:10.6

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

0:13.8

just apply to your money.

0:15.0

That applies to your time, your focus, your energy, your attention.

0:18.2

It applies to anything in your life.

0:19.4

It's a limited resource that you need to manage.

0:21.8

That leads to two questions.

0:23.2

Number one, what matters most?

0:24.8

Number two, how do you make day-to-day decisions that reflect that?

0:29.7

Learning those two questions is a lifetime practice.

0:33.0

And that is what this podcast is here to explore.

0:35.6

My name is Paula Pat.

0:36.6

I am the host of the Afford Anything Podcast.

0:39.0

Every other week, we answer questions that come in from you, the community.

0:42.7

And today, former financial planner Joe Salcihi is here with me to answer these questions.

0:48.2

What's up, Joe?

0:49.2

What's happening, Paula?

0:50.9

I must be in a really good mood because the questions we have today, I love these questions.

0:58.5

These are some really interesting digart teeth into questions about financial planning.

1:04.5

I can't wait to get started.

1:05.9

Absolutely.

1:06.9

Here is what we're going to talk about today.

...

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