Ask Paula: Should I Repay Debt or Invest?

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 9 November 2022

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

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Summary

#412: Taylor recently graduated. She wants to reach financial independence as soon as possible. What should she do first: invest or repay low-interest debt? Carter doesn’t want to pay too much for his investments. He’s worried about the tax drag. He wants to know how to improve cost efficiency in his portfolio. How should he manage decisions about basis points, dividends and capital gains? Our first anonymous caller has been working and investing for a decade. Today her portfolio is large enough that she and her husband can finally take a mini-retirement. They’d like to rebalance their portfolio. They want it to reflect the fact that they won’t be working for a while. They’d also like to calculate how much money they need to travel with their children. How should they handle this? Our second anonymous caller is worried that their portfolio is out-of-whack. Their money is in a target date retirement fund. They’d like to move some of it to a three-fund portfolio. But this is a scary time to sell. Stocks are low. What should they do? 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. 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.
0:11.6	Every choice that you make is a trade-off against something else and that doesn't just
0:14.7	apply to your money, that applies to your time, your focus, your energy, your attention
0:19.0	to any limited resource that you need to manage.
0:22.2	And that opens up two questions.
0:23.9	First, what matters most?
0:26.5	And second, how do you make decisions that reflect that which matters most?
0:33.8	Answering those two questions is a lifetime practice.
0:37.5	And that's what this podcast is here to help you get right.
0:41.0	My name is Paula Pant.
0:42.0	I am the host of the Affordable Care Foundation.
0:44.0	Every other episode, we answer questions that come from you.
0:48.3	And my buddy, Joe Salcihi, former financial planner, joins me to answer these questions.
0:54.2	What's up, Joe?
0:55.2	Paula, I am here and reporting for duty and I don't want to spoil this for anybody.
1:01.2	But today we have no questions about board games, which is unfortunate and no questions
1:07.6	about the Detroit Lions, which is probably good.
1:09.8	Joe revealing two of his interests.
1:12.3	He's the former Detroit money guy and a big board game nerd, which there are many board
1:18.8	games that teach people about money.
1:21.5	There are.
1:22.5	We do the day after Thanksgiving, Black Friday, I realized a number of years ago, nobody
	...

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