Ask Paula: Should I Put My Student Loans in Forbearance? Should I Buy a Vacation Rental? and More

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 3 February 2020

⏱️ 81 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

#239: Lo is in a good spot with her career, but she’s struggling with a ton of student loan debt, and consequently, credit card debt. What should she do to manage it? Anonymous wants to know how to set up a backdoor Roth IRA. Eric and his wife own a property in Savannah, GA that brings in more money as an Airbnb than a traditional rental. They want to invest in more properties and are wondering if this model is the best path to take. James wants to own a vacation rental in the Vermont mountains that he can use when it’s vacant. What features or qualities would make a profitable vacation rental? What red flags should be on his radar? Ayesha is looking at buying a rental property that has a partial HUD claim on it. What kind of complications should she anticipate? Or should she let this property go completely? Shelbi and her husband own a rental property that they purchased for $178,000 that’s now valued at $300,000. They’re looking at a multitude of options - sell it, move into it, or keep it. What’s best given their FIRE goal? For more information, visit the show notes at https://affordanything.com/239 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	You can afford anything.
0:10.0	You just can't afford everything.
0:12.5	Every decision in your life carries an opportunity cost, and that doesn't just apply to your
0:16.2	money, that applies to any limited resource that you need to manage, including your time,
0:20.6	your energy, and your attention.
0:22.6	And that leads to two questions.
0:24.2	Number one, what matters most to you, and number two, how do you align your day-to-day
0:29.3	decision-making to reflect that?
0:31.9	Answering these two questions is a lifetime practice, and that's what this podcast is here
0:35.6	to explore.
0:36.6	My name is Paula Pat.
0:37.6	I'm the host of the Afford Anything Podcast, and today I'm answering questions that come
0:41.4	from you, the community.
0:43.7	Here's what we're going to cover.
0:45.2	Low is in a great spot with her career, but she's struggling with credit card debt and
0:49.0	student loan debt.
0:50.4	What should she do to manage this?
0:52.5	James wants to own a vacation rental in the Vermont Mountains that he can use when it's
0:56.4	vacant.
0:57.4	What red flags should be on his radar?
1:00.9	Anonymous wants to set up a backdoor Roth IRA.
1:03.7	How?
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Paula Pant | Cumulus Podcast Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Paula Pant | Cumulus Podcast Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.