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Afford Anything

Ask Paula: What Do I Do With Free Money?

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.63.4K Ratings

🗓️ 24 May 2022

⏱️ 74 minutes

🧾️ Download transcript

Summary

#382: Joe is buying his first house hack and would like to understand if the FHA loan or the doctor loan would be better for him. Sara wants to leave her job to spend time with her children, and she needs help in calculating her FIRE number. Kat received a windfall and is wondering if she should invest it in stocks, real estate, or a combination of both. Aisha is moving to the US and wants to start investing ASAP - how should she approach her goal to reach FIRE? Former financial planner Joe Saul-Sehy and I tackle these 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/episode382 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 but not everything.

0:10.9

Every choice that you make is a trade-off against something else, and that doesn't just

0:14.4

apply to your money.

0:15.8

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 carries

0:24.6

trade-offs, and that opens up two questions.

0:28.1

First, what matters most?

0:30.7

Not what does society tell you ought to matter, but what is genuinely a priority in your

0:36.4

life?

0:37.4

That's the first question, and the second question is how do you make decisions accordingly?

0:43.3

Answering these two questions is a lifetime practice, and that's what this podcast is

0:46.8

here to explore and facilitate.

0:49.6

My name is Paula Pant, I am the host of the Afford Anything Podcast every other week.

0:54.6

We answer questions that come from you, the community, and my buddy, former financial

1:00.6

planner, Joe Salcihi, joins me to answer these questions.

1:03.9

What's up, Joe?

1:04.9

You know what you always say yes to first, Paula?

1:07.0

You say yes to the ice cream.

1:08.8

That ice cream is always first, always.

1:12.1

Joe is saying this because as we got on Skype, we record this on Skype, and as we logged

1:16.8

on, I was like, downing a bag of potato chips.

1:20.1

It's like, could barely open Skype because I'm going both hands just full speed into this

...

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