Ask Paula: What Should I Do With $25,000?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 7 April 2021

⏱️ 84 minutes

🔗️ Recording | iTunes | RSS

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Summary

#310: Greta is tired of financial modesty. She wants to achieve financial independence through diversified income streams, and has her eyes set on owning local duplexes. What should she focus on to make this happen? Jeannie wants to know: when should you scale back 401k contributions so you can invest in something else, like real estate? Steph and her husband came into $25,000 and aren’t sure what to do with it. Should they pay off their student loans, save it towards a house and starting a family, or purchase her company stock options? J from California is curious: how do you strike a balance between optimization and simplicity in your financial plan? Dawn has $65,000 in a 403b through Ameriprise and the fees associated with it are outrageous. Should she take the money out and put it elsewhere, or leave it? My friend and former financial planner, Joe Saul-Sehy, joins me to answer these five questions. Enjoy! For more information, visit the show notes at https://affordanything.com/episode310 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.
0:11.8	Every choice that you make is a trade-off against something else and that doesn't just
0:15.1	apply to your money.
0:16.4	That applies to your time, your focus, your energy, your attention, any limited resource
0:22.0	that you must manage.
0:23.7	And that opens up two questions.
0:25.4	First, what matters most?
0:27.7	And second, how do you align your own money?
0:29.9	Your daily, weekly, monthly annual decision making to reflect that which matters most?
0:36.6	Answering those two questions is a lifetime practice.
0:39.5	And that's what this podcast is here to explore.
0:42.2	My name is Paula Pant.
0:43.2	I am the host of the Afford Anything Podcast.
0:46.0	Every other episode, ish, we answer questions that come from you, the community.
0:50.8	And today, former financial planner Joe Saw-Chi and his cat Cooper join me to answer those
0:56.7	questions.
0:57.7	What's up, Joe and Cooper?
0:59.2	Do you like how Cooper to sit here supervising?
1:01.7	Very nice.
1:02.7	Yep.
1:03.7	Just staring at us, making sure that we answer all of the questions thoroughly.
1:07.1	Look at he sit here like, I love Afford Anything.
	...

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