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Afford Anything

Ask Paula: I Tripled My Income. Now What?

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.63.4K Ratings

🗓️ 24 May 2023

⏱️ 63 minutes

🧾️ Download transcript

Summary

An anonymous caller is struggling with a tempting offer from her family to buy her first house. Chris recently tripled his income. How should he manage this unexpected surplus? Tyson is wondering if it's a good time to convert his bonds into treasuries. “Jaula” wants to know if she should count her side hustle income as part of her retirement money. 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

Hey, Paul, I know this is probably a bad time to bring this up

0:02.3

But you remember that time that I loan you five bucks

0:05.7

Man you you didn't go that over my head. You want me to Venmo you you made a Venmo you four dollars and 99 cents?

0:11.3

No, the full five bucks would be great because I don't want to come in after you for that last penny

0:16.2

You know inflation adjusted. I mean, but you're losing out

0:20.4

Well, it could be with the 10% interest I've been charging for the past like six years since what

0:25.4

I think that drink it fincon six years ago. Remember that

0:29.6

for what for 99 cents

0:33.7

Speaking of people who loan people money, but then hold it over their heads

0:36.8

We're gonna be talking about that

0:40.7

For shadowing we're gonna be talking about that as well as many other questions on today's episode

0:46.3

Welcome to the afford anything podcast the show that understands you can afford anything

0:50.8

But not everything every choice that you make

0:53.5

Carries a trade-off and that applies to your money to your time to your energy to any limited resource that you need to manage

1:00.2

Now every other episode we answer questions that come from you the community

1:04.6

My name is Paula pant and the host and my buddy Joe Salcihi joins me to answer these questions. You're a former financial planner Joe

1:10.6

I am and I'm apparently a loan shark

1:14.8

Right and speaking of awkward loan situations that might

1:20.6

Impact the relationship between two people our first caller has this to say

1:31.3

This is anonymous I live in Jacksonville, Florida. I'm 26. I make about 77 grand and

1:40.8

Right now I am renting an apartment with my roommate. We've had just really insane

1:47.2

Increases in our rent costs like 17% last year and it's gonna be 7% this year

...

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