Ask Paula: How to Handle a HUGE Bonus, Commission or Windfall

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Investing, Entrepreneurship, Business

4.7 • 3.6K Ratings

🗓️ 5 October 2022

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

#405: Daniel and his wife want to go on an extended vacation and leave their jobs next year…and still have money in case there’s a problem at their rental properties. Would a HELOC help them? Anonymous and her husband have received a large commission and want to understand how to better plan for their future by optimizing for these inconsistent windfalls. Brian has hit coast F.I.R.E and would like guidance on how to prioritize between tax advantaged accounts and retirement accounts. Anonymous and his wife have been focused on getting short term rentals in a single location - is his portfolio too focused on this singular strategy?? Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it here. 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.
0:10.8	Every choice that you make is a trade-off against something else and that doesn't just
0:13.7	apply to your money.
0:14.7	That applies to your time, your focus, your energy, your attention, any limited resource
0:19.5	that you need to manage.
0:21.4	And that opens up two questions.
0:23.2	First, what matters most?
0:25.2	Second, how do you align your decision making around?
0:29.0	Which matters most?
0:31.2	Answering these two questions is a lifetime practice and that's what this podcast is here
0:34.8	to explore.
0:36.3	My name is Paula Pant.
0:37.3	I'm the host of the Affordable Care Foundation podcast.
0:39.6	Every other episode, we answer questions that come from you, the community.
0:43.5	And my buddy, former financial planner, Joe Salcihi, joins me to answer these questions.
0:48.2	What's up, Joe?
0:49.2	Got to coffee and I'm ready to go, Paula.
0:51.8	I am so ready.
0:53.3	Let's do this.
0:54.3	What amazing questions, as always, amazing questions today, we're going to kick off with someone
1:02.3	who just received a $750,000 windfall.
1:08.2	They're trying to figure out what to do with it.
	...

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