Ask Paula: If I Retire at 50, How Do I Bridge the Gap?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 18 June 2021

⏱️ 78 minutes

🔗️ Recording | iTunes | RSS

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Summary

#322: Jess wants to reach financial independence by the time she’s 50. But she’s worried that she doesn’t have enough money in cash or taxable brokerage accounts to bridge the gap in her first few years of retirement. What moves should she make, if any? Yisell wants to invest money now. Should she cash out her $70,000 pension in hopes to generate more than the $1,000 per month she’s guaranteed from it? Abbey is 22 and she would like to go back to graduate school for nurse anesthesia. Should she save up and pay for it in cash, or invest her money and take out federal loans? Eliana enjoyed our interview with Paul Merriman on the two-fund portfolio. She’s curious about what growth stocks and value stocks are, and how they fit into a passive index fund investing strategy. Finally, Sneezy wants to know: why aren’t stocks a good hedge against inflation? My friend and 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/episode322 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.
0:11.2	Every choice that you make is a trade-off against something else and that doesn't just
0:14.4	apply to your money, that applies to your time, your focus, your energy, your attention,
0:19.1	anything in your life that is a scarce or limited resource.
0:22.8	Saying yes to something implicitly means that you're saying no to all other opportunities
0:26.5	and that opens up two questions.
0:28.6	What matters most?
0:30.0	And how do you align your daily decision making around that which matters most?
0:36.0	Answering those two questions is a lifetime practice and that's what this podcast is
0:40.0	here to explore.
0:41.6	My name is Paula Pat.
0:42.6	I am the host of the Affordable Care Foundation podcast.
0:45.1	Every other episode I answer questions that come from you, the community.
0:48.7	And today, former financial planner Joe Saw-See-Hi joins me to answer these questions.
0:53.2	What's up, Joe?
0:54.2	Well, I'm here. I'm happy to be here. I have a Raspberry Lime spin drift with me.
1:00.8	So great questions. Answering them with Paula and a spin drift altogether. This could get
1:07.7	crazy.
1:08.7	This is not sponsored BTWs. This is like not even real.
1:12.7	I'm sure there are people who are listening to this who are like, whoa, the product placement.
1:16.9	But if you're right here.
1:18.7	I am getting precisely zero dollars and zero cents from this.
	...

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