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Afford Anything | Make Smart Money Choices

Ask Paula: Will the Stimulus Cause Massive Inflation?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.73.6K Ratings

🗓️ 20 April 2020

⏱️ 78 minutes

🧾️ Download transcript

Summary

#252: The government issued a $2 trillion stimulus. How will that affect the economy? Could we endure massive inflation or hyperinflation? Bradley kicks off today’s Ask Paula episode with this timely question. What inflation rate will we see in 2020, and how can we prepare? How should we hedge against hyperinflation? Anonymous Retiree (whom we call Sequencing Sally) is 64 and retired last year. She lives off of monthly withdrawals from a Vanguard portfolio. Given the bear market, should she leave her portfolio alone and spend from an emergency fund? Additionally, her target allocation is off-kilter. Should she rebalance now or later? Jay wants to reach financial independence in five years, but she’s in a job that will pay her $270,000 student loan balance if she stays there for another 17 years. Should she stay, or quit and face the balance? Jan has $500,000 in a managed fund with a three percent annual fee. He wants to move his funds into his Vanguard personal brokerage account, without incurring a ton of taxes from the sales of his holdings. How can he accomplish this? My friend and former financial planner Joe Saul-Sehy and I answer these questions in today’s episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode252 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.

0:11.2

Every choice that you make is a trade-off against something else.

0:14.0

Saying yes to one thing implicitly means that you're saying no to something else.

0:19.2

And that doesn't just apply to your money.

0:21.0

That applies to your time, your focus, your energy, your attention, anything in your life.

0:24.8

That's a scarce or limited resource that you need to manage and budget.

0:28.6

That leads to two questions.

0:30.0

Number one, what matters most to you?

0:32.0

Number two, how do you align your daily decision-making in a way that reflects that?

0:38.2

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

0:41.0

to explore.

0:42.0

My name is Paula Pat on the host of the Affordable Care and the Affordable Care and the

0:45.5

Affordable Care and the Affordable Care.

0:46.5

And former financial planner Joe Salcihi joins me today to answer questions that come

0:50.4

from you, the community.

0:51.7

Hey Joe.

0:52.7

Hey Paula, I just did the most amazing thing.

0:56.0

I went to the most phenomenal restaurant yesterday.

0:58.6

Was it called your kitchen table?

1:00.5

It was called my kitchen table.

1:02.4

It was all home-cooked meals.

1:04.5

It was incredible.

...

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