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Afford Anything

Ask Paula: Is Mom Getting Ripped Off by Her Investment Advisor?!

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.63.4K Ratings

🗓️ 27 December 2023

⏱️ 70 minutes

🧾️ Download transcript

Summary

Nicole’s 78-year-old mom is paying huge fees for low returns. How can Nicole help her mom make better investments? Paul is a single dad, worried about paying his daughter’s college costs. He’s trying to figure out how to report lower income on the FAFSA, so that his daughter can get better financial aid. Nick is in his 40’s. His long-term care insurance rate is nearly doubling. Should he stop spending on this type of insurance? Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episode479 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Joe, when you were a financial advisor, did you ever have clients who had multiple

0:04.6

financial advisors, you and other financial advisors? Yes, and that was always a struggle.

0:11.1

Mm, well we are going to kick off today's episode with a question

0:16.1

from someone whose retired 78 year old mom has two financial advisors done done, done, and some questions that come along with it.

0:26.9

Welcome to the Afford Anything Podcast, the show that understands you can afford anything,

0:31.2

but not everything. Every choice you make carries a trade-off and that doesn't just

0:36.0

apply to your money. That applies to your time, your focus, your energy, your attention to any limited

0:41.6

resource that you need to manage. So that opens up two

0:45.1

questions. What matters most and how do you make decisions accordingly?

0:48.8

Answering those questions is a lifetime practice. That's what we are here to explore and

0:53.8

facilitate. My name is Paula Pant. I am the host of the Afford Anything

0:57.1

Podcast every other week. We answer questions that come from you alongside my

1:02.3

buddy, the former financial advisor

1:04.7

Josall see hi what's up Joe what's up Paula how are you I am great how you doing I'm

1:10.6

good so I went to a local farm which has all kinds of local produce I'm actually

1:21.4

taking one of the masterclass Michael Poland's masterclass I'm actually taking one of the masterclass, Michael Poland's masterclass, I'm better eating.

1:25.0

And one of the things, one of the lessons there was to find a regenerative farm in your area.

1:33.6

I'm like, I live in northeast conservative Arkansas.

1:38.2

There ain't gonna be any, there is.

1:40.9

There's this really cool farm, and this woman has all these wonderful products and so I am

1:46.4

drinking locally roasted coffee and tonight I'm having locally made Browerst.

1:53.0

Wow, where's my invitation Joe?

...

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