Ask Paula: "Should I Put My Dreams on Hold … and Buy a House Instead?"

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 7 February 2024

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

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Summary

#487: Luis’s wife is killing it at her side hustle. The unexpected income has led Luis to YouTube for hacks to capitalize on their surplus. Can a 529 plan double as long-term care savings? Elizabeth is frustrated with the housing market. She’s been saving for years but isn’t anywhere near her goal. Should she give up and spend it on a dream pottery course instead? Steve has a dilemma. He doesn’t borrow money on principle. And his wife doesn’t want to sell their current house until they’ve closed on the next one. How is he going to make this work? Greta wants to “reverse” rollover an IRA into a 401k to avoid the pro-rata rule. Is that a thing? Former financial planner Joe Saul-Sehy and I tackle these four 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/episode487 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hey Joe it's the start of a new year have you set any big financial goals for this year?
0:05.0	Yes, I'm going to buy a dog.
0:08.0	By a dog? I want to get a dog that does magic tricks. You don't you call a dog that does magic tricks? What's that? A labor-cadabro door.
0:17.0	Joe, this is the open, we want people to stay with the episode.
0:23.0	Say, cut right to the intro.
0:25.0	Welcome to the Afford Anything Podcast.
0:28.0	The show that understands you can afford anything but not everything.
0:32.0	Every choice that you make is a trade-off against something else
0:35.1	and that doesn't just apply to your money. That applies to your time, your focus, your
0:38.8	energy, your attention to any limited resource that you need to manage.
0:43.0	What matters most?
0:44.0	And how do you make decisions accordingly?
0:46.0	Those are the two questions this podcast is here to explore.
0:49.0	I'm your host, my name is Paula Pant,
0:50.0	every other episode we answer questions that come from you, and I do so with my buddy,
0:56.0	the former financial planner Joe Salcei, what's up Joe?
0:59.1	You want me to buy a new joke book, don't you?
1:01.8	Yes, that is a good financial goal for 2024. Give better material.
1:07.0	Maybe in a role in a course on comedy writing.
1:11.0	Maybe you've done a few of those. We have done some of those. I should have
1:15.0	actually paid attention apparently. Well speaking of enrolling in courses our first
1:21.0	question today, I know right? do you like the segue?
	...

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