Is It REALLY Different This Time?

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 27 May 2025

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

#611: With the state of the world changing so rapidly, Lesley is struggling to accept that “this time isn’t different.” Does the past still reliably inform the present in the face of major decisions today? An anonymous caller and her husband want to achieve financial independence through real estate within 10 years. Is it better to pay off existing mortgages or prioritize buying more rentals? Melanie feels duped by the FICO credit scoring system. She’s doing all the right things, but her credit score is still moving in the wrong direction. What’s going on here? Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode. Enjoy! P.S. Got a question? Leave it here. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hey, Joe, do you remember the calamity around the Y2K bug?
0:03.0	I do. You know what's weird is we were just talking about this literally a month ago,
0:07.8	but to your point, I hadn't talked about it five, maybe 10 years.
0:11.9	Right. Once the threat has passed, and particularly if the outcome was not as bad as everyone thought,
0:18.5	it's so easy to forget how scared we were in the moment.
0:21.6	That was a scary time. That was terrifying. Like, we thought hospitals were going to shut down.
0:26.6	Utility grid. Right? Exactly. Everything could have shut down. Like, it could have been pandemonium.
0:34.6	People were buying all kinds of rations, like rational people buying rations for their
0:39.1	basement. Yeah, absolutely. We're going to talk about how to deal with the idea of this time
0:46.1	it's different, where there are all of these threats and all of these worries that we have.
0:50.9	We're going to talk today about placing what's happening right now into some
0:56.0	historical context. We're also completely changing the topic, going to be talking about credit
1:01.3	scores. Wow. Yeah. And we're also going to be addressing a question on should you buy more
1:07.7	rental properties or should you pay off the ones that you've got? So we're going to be covering a really wide range today.
1:12.6	Oh, this is going to be fun.
1:13.9	Welcome to the Afford Anything podcast, the show that knows you can afford anything, not everything.
1:18.6	This show covers five pillars.
1:20.1	Financial psychology, increasing your income, investing, real estate and entrepreneurship.
1:24.4	It's double-eye fire.
1:25.8	I'm your host, Paula Pant.
1:26.9	I trained in economic reporting at Columbia.
1:29.0	Every other episode-ish, I answer questions from you, and I do so with my buddy, the former financial
	...

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