Ask Paula: The stock market is down - Can I still retire?

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 31 August 2022

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

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Summary

#399: Bella is SO CLOSE to reaching F.I.R.E and is worried about her withdrawal rate if the stock market drops. If the stock market does drop, can she withdraw as much as she had originally planned? Sam has been investing for several decades and thinks that he should stay invested in his portfolio, despite the recent drop in value…but he is still wondering if there’s a chance that he should sell. Meisha is making more money at her new job but can’t contribute to her 401(k) for the first six months - what should she do with her extra money in this interim?? Kyria is a young investor with multiple goals: she’s wondering how to best save for a downpayment without it being eroded by inflation and also whether her investment choices should take on more risk, since time is on her side. 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. For more information, visit the show notes at https://affordanything.com/episode399 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.
0:11.5	Every choice that you make is a trade-off against something else and that doesn't just
0:14.6	apply to your money.
0:16.0	That applies to your time, your focus, your energy, your attention.
0:19.9	Any limited resource that you need to manage, saying yes to something implicitly means
0:25.0	you are accepting the trade-offs.
0:28.0	And that opens up to questions first, what matters most.
0:31.6	Second, how do you align your decision-making around that which matters most?
0:37.6	Answering these two questions is a lifetime practice.
0:40.9	And that's what this podcast is here to explore and facilitate.
0:44.5	My name is Paula Pant.
0:45.5	I'm the host of the Afford Anything Podcast.
0:47.9	Every other episode, we answer questions that come from you, the community, and my buddy,
0:53.5	former financial planner, Joe Salciai, joins me to answer these questions.
0:57.9	What's up, Joe?
0:59.4	Paula, I know these are going to be some good questions and I just wanted to make sure
1:03.5	that we brought it today so I've stretched out.
1:05.8	I've got my athletic ear on.
1:08.7	I'm ready to do my part.
1:11.2	Well, you know, the physiological affects the mental.
1:14.6	Focus.
1:15.6	Yeah, absolutely.
	...

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