Ask Paula: Thinking about Money from First Principles

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 4 June 2021

⏱️ 82 minutes

🔗️ Recording | iTunes | RSS

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Summary

#320: Rob is hoping to retire at age 60, but he has a pesky mortgage balance he wants to eliminate beforehand. He and his wife expect to inherit $300,000. Should they use this money to pay off their mortgage or should they bulk up their retirement accounts? Another anonymous caller has two separate questions. One is about the tax efficiencies of ETFs vs. mutual funds, while the other is about Ginny Mae funds and whether there are bond funds that have an inverse relationship with equities. Priya is looking for information on home equity loans: where can you get the best terms, and what are the disadvantages? Additionally, she’d like to know which city is best for rental investing: Atlanta, Dallas, or Raleigh? My friend and former financial planner, Joe Saul-Sehy, joins me on the show to answer your questions. Let’s dive in! For more information, visit the show notes at https://affordanything.com/episode320 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.
0:11.3	Every choice that you make is a trade-off against something else, and that doesn't just
0:14.6	apply to your money, that applies to any limited resource that you need to manage, like
0:19.1	your time, your focus, your energy, and your attention.
0:23.6	Saying yes to something implicitly means that you're saying no to other opportunities,
0:28.2	and that opens up two questions.
0:30.6	First, what matters most?
0:32.7	And second, how do you align your decision-making around that which matters most?
0:40.3	Answering these two questions is a lifetime practice, and that is what this podcast is
0:44.5	here to explore and facilitate.
0:46.8	My name is Paula Pant, I am the host of the Afford Anything Podcast.
0:50.0	We're normally a weekly show, but once a month on the first Friday of the month, we air
0:54.0	a first Friday bonus episode, so welcome to the June 2021 first Friday bonus episode.
1:01.1	Every other episode, I answer questions that come from you, the community, and Joe
1:06.3	Saul Seahy, a former financial planner, and the host of the Stacking Benjamin's podcast,
1:10.7	joins me to answer these questions.
1:12.5	Hey, Joe.
1:13.5	Paula, what's going on today?
1:15.2	Joe, we're going to do something different with today's episode.
1:17.8	We are only answering three questions.
1:20.4	Three.
1:21.4	Instead of our usual five.
	...

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