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Afford Anything | Make Smart Money Choices

Don't Let One Big Bill Blow Up Your Budget (Here's How)

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.73.6K Ratings

🗓️ 7 June 2024

⏱️ 67 minutes

🧾️ Download transcript

Summary

#512: An anonymous caller who received a large inheritance feels paralyzed by all the investment philosophies he’s read about. How does he pick a winning strategy he can stick with? Josh is an expectant dad looking to buy a bigger house but doesn’t know how much everything will cost. Should he save more or invest more? Another anonymous caller worries that large expenditures like buying a new car or replacing her home’s roof will blow up her budget in retirement. How does she plan for unexpected expenses? Former financial planner Joe Saul-Sehy and I tackle these three 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/episode512 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Hello from Boise. I normally on the first Friday of every month do a monthly economic update

0:08.5

but right now I'm at a conference and I want to be able to give the monthly economic update the

0:14.6

time and the care that it deserves.

0:16.5

So today's episode is going to be a Q&A episode with former financial advisor Joe Saul C. High and next week on the second

0:26.4

Friday of the month we'll do our normal Friday monthly economic update.

0:31.0

Enjoy!

0:32.0

Joe when you are a financial planner, did you ever have a client who blew up their budget,

0:37.7

maybe even blew up their retirement through a couple of big unexpected bills? I can think of one who really... of because of your work in real estate when you tear down that wall you have no idea what's behind it right right exactly it quickly doubles triples

0:57.0

Yeah, and then of costing to your point three times what she thought that it was going to

1:01.2

cost and it was really tough because she barely had enough and

1:05.3

she didn't want to go back to work. Well we are going to answer a call from

1:09.7

someone who is wondering about how to prevent a situation like that, someone who's going

1:15.2

into retirement but wants to be proactive about making sure that big unexpected bills don't

1:20.6

completely throw off her retirement budget.

1:24.0

But before we get to that, we've got a few others as well.

1:28.0

Welcome to the Afford Anything Podcast, the show that understands you can afford anything,

1:32.0

but not everything, every choice is a trade-off and that applies to

1:35.8

your time your money your focus your energy to any limited resource that you need to

1:40.4

manage this is a show all about how to allocate those limited

1:45.4

resources in a way that leads to an optimal life. My name is Paula Pant. I

1:51.5

trained in Economic Reporting at Columbia and I am the host of the show.

1:56.0

Every other episode I answer questions that come from you and the former financial planner

...

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