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Afford Anything

Ask Paula: How Do I Invest For My Parents' Retirement?

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.63.4K Ratings

🗓️ 24 February 2022

⏱️ 73 minutes

🧾️ Download transcript

Summary

#366: Micheal’s parents just sold their home to pay off debt and fund their retirement. How should he invest the profits? Ryker would like to understand what it would take for cryptocurrency to be considered as a good investment option for a diversified portfolio. Megan has qualified for her employer's 401k and needs help deciding between investing in a Roth 401K and a Roth IRA. 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! Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

You can afford anything, you just can't afford everything.

0:12.3

Each choice that you make presents a trade-off.

0:15.4

And that doesn't just apply to your money, that applies to any limited resource you need

0:18.7

to manage.

0:19.8

Like your time, your focus, your energy, your attention, saying yes to something implicitly,

0:26.0

means turning away all other opportunities, and that opens up two questions.

0:30.7

First, what matters most?

0:33.0

Second, how do you align your decision-making around that which matters most?

0:38.4

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

0:42.8

here to help you get right, or at least help you get less wrong.

0:48.0

My name is Paula Pant, I'm the host of the Afford Anything Podcast.

0:51.6

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

0:55.9

And my buddy, former financial planner, Joe Salcihi, joins me to help answer these questions.

1:01.2

What's up, Joe?

1:02.2

Hey, Paula, how are you?

1:03.8

I'm good, how are you doing?

1:05.2

I'm doing good.

1:06.2

I'm sitting here studying different states, and do you know which state is known for the

1:10.8

smallest soft drinks?

1:13.2

The smallest soft drinks.

1:15.5

I would assume that soft drinks are distributed nationwide and therefore standardized.

1:21.2

So I'm actually really thinking through this, as a result, if a state would have smaller

...

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