Ask Paula: I’m Three Years from Retirement. How Should I Invest?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 24 August 2020

⏱️ 78 minutes

🔗️ Recording | iTunes | RSS

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Summary

#272: “Anonymous Moving-Back-home” and her partner earn $150,000 per year after taxes. They’re currently saving 80 percent by living with family. What should they do with their savings? Leigh and her husband are three years away from retirement. They have an extra $50,000 in income this year and plenty of options for where to invest this money. Which one is the best? Kelsey doesn’t feel comfortable investing in total stock market index funds and would rather invest in ESG funds. How can she tell if she has the necessary $2,000 invested in a company to submit a proposal to participate in a proxy voting? Also, Vanguard has a poor history of supporting shareholder resolutions. What can we do about this? Dylan and his wife rolled her 401k into a rollover IRA with pre-tax contributions. They’ve continued contributing to this IRA with post-tax contributions. Should they separate the accounts, or can they worry about this when they’re ready to retire? Anonymous wants to buy and househack one duplex every year to achieve financial independence and leave his office job within the next three to four years. Is his plan realistic? Former financial planner Joe Saul-Sehy joins me to answer these questions on today’s episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode272 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.
0:11.0	Every choice that you make is a trade-off against something else, and that doesn't just
0:14.2	apply to your money, that applies to any limited resource that you have to manage, whether
0:18.1	it's your time, your energy, your attention, your focus.
0:22.2	Saying yes to one thing means implicitly, saying no to competing opportunities, the concept
0:27.8	of afford anything is the concept of those trade-offs, those values, that opportunity cost,
0:33.6	and that leads to two questions.
0:35.6	Number one, what matters most to you?
0:38.2	And number two, how do you make daily decisions in your life that reflect those priorities?
0:45.1	Answering these two questions is a lifetime practice, and that's what this podcast is here
0:48.4	to explore.
0:49.4	My name is Paula Pat.
0:50.4	I am the host of the Afford Anything Podcast.
0:53.2	Every other episode, I answer questions that come from you, the community.
0:56.7	And today, my friend, former financial planner Joe Saul Sihai is here to help me answer those
1:01.8	questions.
1:02.8	What's up, Joe?
1:04.0	I have nothing better to do, so I thought that I would just jump on the internet and see
1:10.6	if my friend Paula needed some more help.
1:12.5	I sure I always need help.
1:14.5	I mean, I seriously doubt that.
1:17.4	Absolutely, I constantly, speaking of, in fact, do you remember the September sabbatical
	...

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