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Afford Anything | Make Smart Money Choices

Joe Says Life Insurance Won’t Make the Headline. But it Did.

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.73.6K Ratings

🗓️ 5 June 2017

⏱️ 48 minutes

🧾️ Download transcript

Summary

#80: Chris, age 30, makes $200,000 per year and saves 50 percent of his income. What accounts should he use in order to maximize his tax benefits? Dee, age 39, is getting tired of apartment living. She found a great neighborhood in which she'd like to own a home, and she's saving for a 20 percent downpayment. But she's nervous about the high cost of home maintenance. How can she deal with this? Chelsea just moved into a new house with her husband. He purchased the house outright, in cash, and she wants to pay him so that she can share in the home's ownership and equity. But she also has student loan and credit card debt. Should she make progress towards all three of these goals (build equity, pay off  student loans, pay off credit cards) at the same time? Or should she prioritize one -- and if so, which one? Charlene is curious: what's so great about Vanguard? Why do Joe and I like the Vanguard Target Date funds so much, as compared to funds from another brokerage? (Note: neither of us have any financial relationship with Vanguard, other than being an ordinary, run-of-the-mill customer.) Alma is looking for a term life insurance policy that'll protect her if she passes away outside of the United States. Where and how can she find this? My friend Joe Saul-Sehy, a former financial planner and host of the award-winning Stacking Benjamins podcast, joins me today while we tackle these 5 questions ... and somehow, also we go on a tangent about Burger King. It's a whopper of an episode. :-) Enjoy! For more information, visit the show notes at https://affordanything.com/80-life-insurance-vanguard-home-costs-goals-more/ 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.

0:11.0

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

0:14.2

My name is Paula Pant, host of this show and today I am answering questions that you,

0:18.4

the listeners have submitted and I'm doing it with my buddy, Joe Salcihi, host of this

0:23.3

Dacking Benjamin's podcast.

0:24.3

So let's get started.

0:25.3

Hey Joe, you know, people actually ask us for advice.

0:33.3

Isn't that crazy?

0:34.3

This is crazy.

0:35.3

I know, right?

0:36.3

So, I guess let's try to see if we can not completely ruin their lives.

0:42.3

That's, we set the bar high.

0:44.3

It's only ruined their life a little and then maybe we can baby steps, right?

0:48.3

Exactly.

0:49.3

Woo!

0:50.3

And you know what?

0:51.3

Baby steps is a perfect segue for what we are eventually going to tell to how do you

0:55.7

like the segue?

0:56.7

What we're eventually going to tell this first caller, Chelsea, who has a question about

1:01.0

paying off her debt.

1:02.0

Hi Paula.

1:04.1

I just moved into a new house with my husband who was able to buy the house outright in cash.

...

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