Ask Paula: My Dad Died, and My Mom Is CLUELESS About Finances

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 1 February 2023

⏱️ 77 minutes

🔗️ Recording | iTunes | RSS

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Summary

#425: Ellen’s dad died unexpectedly. Her mom is clueless about finances. How does she help a 70-year-old unravel financial complexities? Mike has an opportunity to buy into his friend’s growing business. What should be his legal, financial, and relationship considerations? Pepp wants to know what’ll happen to her Restricted Stock Units when her company goes private. An anonymous caller needs to build her nest egg. She’ll be a full-time student with no income. She has 20 years until retirement. Should she execute a Roth conversion? 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/episode425 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.
0:14.0	And that doesn't just apply to your money.
0:15.6	That applies to your time, your focus, your energy, your attention, any limited resource
0:20.3	that you need to manage, saying yes to something implicitly carries trade-offs.
0:25.4	Whether they are known to you or not.
0:27.6	And so that opens up two questions.
0:30.0	First, what matters most?
0:31.9	And second, how do you align your decision-making around that which matters most?
0:38.0	Answering those two questions is a lifetime practice, which we sometimes get wrong, often
0:43.4	get wrong.
0:44.4	And that's okay.
0:45.4	This is a judgment-free zone.
0:47.0	Here to facilitate and explore that practice are myself, Paula Pitt, the host of the Afford
0:53.1	Anything Podcast, and my buddy, Joe Salcihi, former financial planner.
0:57.2	What's up, Joe?
0:58.2	What's up, Paula?
0:59.2	Wow, that was how it is.
1:00.2	Wow, I know I got to get that down.
1:02.2	Sorry about that, everybody.
1:03.6	Sorry.
1:04.6	There are a few thousand people holding their ears, bleeding ears.
	...

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