Ask Paula: Is the bank trying to scam my parents…?

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 17 August 2022

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

#397: Nic’s parents are forced to confront earlier than anticipated retirement…and they aren’t financially prepared. Now, a bank is offering to buy a part of their mortgage or a part of their house. Is this a scam?! Jon from Colorado is curious about after tax contributions to a Roth 401k, and would like us to talk about why we wouldn’t recommend it. Anna is househacking, and she locked down an awesome interest rate. But, she’s still carrying PMI and is wondering if there’s a way to remove the PMI without refinancing. Courtney from Denver is a real estate investor who wants to invest in new locations, and wants tips on building out her network. 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. For more information, visit the show notes at https://affordanything.com/episode397 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You can report anything but not everything.
0:11.4	Every choice that you make is a trade-off against something else and that doesn't just
0:14.5	apply to your money.
0:15.5	That applies to your time, your focus, your energy, your attention, any limited resource
0:20.2	that you need to manage.
0:21.6	Saying yes to something implicitly carries trade-offs and that opens up two questions.
0:26.4	First, what's most important to you? And second, how do you make decisions accordingly?
0:32.3	Why is decisions?
0:34.1	Answering those two questions is harder than it may appear.
0:36.9	It's a lifetime practice and that's what this podcast is here to explore and facilitate.
0:42.0	My name's Paula Pat.
0:43.0	I'm the host of the Affordable Care Foundation.
0:45.0	Every other episode, we answer questions that come from you, the community, and my buddy
0:50.6	esteemed former financial planner.
0:53.2	Joe Salcihi.
0:54.2	Yes.
0:55.2	Meaning steamed, meaning full of hot air.
0:57.5	Is that what it means?
1:01.2	That's the new Paula Pan dictionary.
1:03.6	Yes, exactly.
1:04.6	Yes, thank you.
1:05.6	I will try not to be full of hot air today.
	...

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