Ask Paula: Should I Invest During the Pandemic?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 1 May 2020

⏱️ 80 minutes

🔗️ Recording | iTunes | RSS

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Summary

#254: Lydia earns income as both a 1099 contract worker and a part-time W2 employee. She filed for unemployment as a W2 worker, but can’t find information on how to file as a contractor. Is there a process contractors can follow to file for unemployment? Florina and her husband have $70,000 in cash to invest. Where should they put this money in light of the current market? Ali and his wife saved eight months of living expenses in their emergency fund in case they get laid off during the pandemic. Is this too excessive? Danielle wants to take advantage of pandemic stock prices - what should she invest in? Anonymous in Real Estate wants to buy a multifamily property with the equity in their first rental as a downpayment. Their husband doesn’t want three mortgages. Should they accelerate mortgage pay-down and be one mortgage down in four years? I answer these five questions in today’s episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode254 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You could afford anything but not everything.
0:10.8	Every decision that you make is a trade-off against something else and that applies not
0:14.2	just to your money, but to any limited resource that you have to manage like your time, your
0:18.5	focus, your energy, your attention.
0:21.3	And that leads to two questions.
0:23.5	Number one.
0:25.0	What do you want to create in the world and in your life?
0:28.7	Is most important to you.
0:30.3	What do you truly value?
0:32.3	And number two.
0:33.3	How do you align your daily decision making to reflect that?
0:37.3	Answering these two questions and living out those answers is a lifetime process.
0:41.8	And that's what this podcast is here to explore.
0:44.2	My name is Paula Pat and the host of the Afford Anything Podcast.
0:47.5	Normally we are a weekly show we air every Monday morning, but once a month on the first
0:52.0	Friday of the month, we air a first Friday bonus episode.
0:55.9	Welcome to the May 2020 first Friday bonus episode.
1:00.5	Every other episode we answer questions that come in from you, the community.
1:04.5	Today, here's what we'll be covering.
1:06.9	Lydia earns income both as a 1099 contract worker and also as a part-time W2 employee.
1:13.7	She's filed for unemployment as a W2 worker, but she's wondering in terms of the income
1:18.8	loss that she's experiencing as a contractor, what can she do?
	...

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