Ask Paula: I'm Taking a Mini-Retirement in a Pandemic. What Should I Do?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 23 June 2020

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

#262: Tyson is taking a year off of work and plans to devote some of his time to domestic travel, volunteer work, and bolstering his rental property portfolio. He originally planned to travel internationally, but won’t due to the pandemic. How does this plan sound? Jace is wondering whether she should take advantage of the low stock market prices or keep a larger emergency fund due to the pandemic. Which is the better option, given her goal of financial independence? Jace also wants to know: where do you park your money after maxing out a 401k and Roth IRA? Venkat had to relocate after living in a condo for one year. He rents out the condo, but he’s in the red. Should he sell this condo? If so, when? TW has $250,000 in cash that he can use to either pay off his rental property or purchase two more properties. Which is the better option? For more information, visit the show notes at https://affordanything.com/episode262 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.
0:10.7	Every decision that you make is a trade-off against something else and that does not
0:14.1	just apply to your money.
0:15.4	It applies to your time, your focus, your energy, your attention, anything in your life.
0:19.7	That's a scarce or limited resource.
0:21.7	That opens up two questions.
0:24.2	First, what matters most to you?
0:25.9	And second, how do you actually act that out in day-to-day life?
0:30.2	How do you align your daily actions with your priorities?
0:33.9	Now answering those questions is a lifetime practice and that is what this podcast is here
0:37.7	to explore.
0:38.7	My name is Paula Pan.
0:39.8	I am the host of the Affordable Care Foundation.
0:42.6	Every other episode I answer questions that come from you, the community.
0:46.8	And today I'm going to be answering questions related to the pandemic.
0:51.8	How to manage money, investments, real estate, retirement savings, how to manage all of
0:56.8	that in the context of the pandemic.
0:59.1	We're going to start with a question from TW.
1:01.2	Hey Paula, this is TW from Kansas City.
1:04.4	Great show.
1:05.4	I listen every week and I love to listen to questions.
1:07.2	You and Joe make a great team on those.
	...

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