Ask Paula: Should I Househack or Pay Off My Student Loans?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Investing, Entrepreneurship, Business

4.7 • 3.6K Ratings

🗓️ 25 January 2021

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

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Summary

#297: George is torn between paying down his student loan debt (which he deferred) or buying a househack. Which is better for his long-term goal of reaching financial independence? Mario is curious to know: is his two-fund portfolio at a 90/10 split is a good asset allocation for his Roth IRA? Hanan wants to figure out if a backdoor Roth IRA conversion will work for her. She also wants to investigate whether a Vanguard Institutional 500 Index Trust and a Vanguard Institutional Total Bond Market Index Trust are ideal. Are trusts different from index funds or mutual funds and if so, how? Vivian is worried about bridging the gap between when she retires and when she claims Social Security. Will her plan of doing a Roth conversion ladder work out the way she hopes? Lastly, June and her husband netted $400,000 from the sale of some golden parachute ISOs. They want to help their children pay for college and are trying to figure out how to strategically use this money. Should they pay off their home, buy rentals, fund 529s, or Roth their 401ks? My friend and former financial planner, Joe Saul-Sehy, joins me to answer these five questions. Enjoy! For more information, visit the show notes at https://affordanything.com/episode297 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 and that doesn't just
0:14.2	apply to your money.
0:15.5	That applies to any limited resource that you have to manage, like your time, your focus,
0:19.4	your energy, your attention.
0:21.2	And that opens up two questions.
0:23.2	First, what matters most?
0:25.2	What's most important?
0:26.6	Second, how do you align your decision-making to reflect that?
0:31.3	Answering these two questions is a lifetime practice.
0:33.7	And that's what this podcast is here to explore.
0:35.8	My name is Paula Pant.
0:36.8	I am the host of the Affordable Care Foundation.
0:39.2	Every other episode, we answer questions that come from you, the community.
0:43.0	And today, former financial planner Joe Solcihi is with me to answer these questions.
0:47.5	What's up, Joe?
0:48.5	Oh, he's with you.
0:49.5	I love that guy.
0:50.5	He's so awesome.
0:51.5	I know.
0:52.5	Isn't he the best?
0:53.5	Oh, that's me.
	...

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