Ask Paula: What to Do with a Six-Figure Windfall?

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 21 February 2024

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

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Summary

#489: Cara made $100,000 in commissions this year, her biggest bonus ever. What should she do with the money if she wants to retire early? An anonymous caller is upset that the 401k plan he sold his boss on is charging him an Assets Under Management (AUM) fee. Should he keep the 401k at all? Remy and her husband need to come up with $30,000 for IVF treatments. How do they build their family without breaking the family finances in the process? Another anonymous caller and his partner have lived in an RV for years. They’re ready to settle. Should they sell most of his investments to purchase raw land and build an off-grid home? Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episode489 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Joe have you ever gotten just a huge check like a six figure bonus or a six figure
0:04.6	commission that six figures not at one time but if somebody wants to
0:08.2	volunteer to send me one I'd love to experiment that would be great. Well, we are going to tackle a question from a woman who has a six figure check coming her
0:19.3	away.
0:20.3	We're also going to be tackling a question from someone who wants to buy Rawland and build an off-grid home,
0:27.8	doing most of the labor himself, with himself and his partner.
0:36.7	We're also going to be answering the question from an organic farmer who suddenly has to pay some higher fees and we're going to be talking to someone who is trying to pay for IVF.
0:45.0	All that? Right, all of that. All of that coming up.
0:49.0	Wow.
0:50.0	It's a big day.
0:51.0	Welcome to the Afford Anything Podcast, the show that understands you can
0:53.8	afford anything but not everything. Every choice that you make is a trade-off
0:57.8	against something else and that doesn't just apply to your money. That applies to any
1:01.6	limited resource that you need to manage like your time
1:04.0	your focus your energy your attention so what matters most and how do you make decisions
1:09.9	accordingly answering these two questions is a lifetime practice.
1:13.9	And that's what this podcast is here to explore.
1:15.9	My name is Paula Pan.
1:16.9	I'm the host of the show.
1:18.2	Every other episode we answer questions from you, the community, and my buddy, the former financial planner, Jo Saul C. Hi,
1:24.7	joins me. What's up, Joe?
1:26.4	I am ready to serve, Paula.
	...

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