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Afford Anything

Q&A: Breaking Up with Total Market Funds After 10 Years

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.63.4K Ratings

🗓️ 13 December 2024

⏱️ 83 minutes

🧾️ Download transcript

Summary

Jackie is sold on Paul Merriman’s “Four Funds” approach, but she’s overwhelmed by the logistics of diversifying her single fund portfolio.. What are the best practices to redistribute her investments, handle taxes, and manage rebalancing? Heidi’s mother recently passed and she’s struggling to decide between distribution options, their tax implications, and investment options for the annuity she inherited.  An anonymous caller and her husband want to buy a second home, pay for their children’s college, buy a car in cash, travel well, and save $3 to $4 million for retirement. How do they prioritize and manage their competing goals? 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 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Joe, you've probably talked to a lot of clients who have a bunch of different goals and they're not quite sure how to set priorities when you've got so many things you want to do and only a limited basket of money.

0:11.4

And there might be a solution for that. Is that what you're implying?

0:14.1

Yeah, yeah. Well, I mean, you were a financial planner for many years.

0:18.6

You've met with literally hundreds of people who have all had this

0:22.3

problem, but the details of the problem have differed. It's so hard, right? Because what do I prioritize?

0:27.0

How do I make sure the money doesn't get commingled? It's like, I don't want my meat and potatoes to touch.

0:32.2

Like, that's gross. Right, because you mentally bucket money for one thing versus another, but then circumstances change.

0:39.3

Absolutely.

0:40.3

Well, we're going to talk at the end of today's episode to a listener who has a question that is very much in this vein.

0:49.3

How do you juggle between all of these competing priorities?

0:53.3

Prior to that?

0:54.2

We're going to talk to a listener who has an inheritance and has received some advice

1:00.5

about how to handle that and is wondering if they got good advice.

1:05.5

All that in one episode?

1:07.5

All of that in one episode.

1:10.5

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

1:15.6

but not everything.

1:16.6

Every choice carries a trade-off.

1:18.6

And that applies not just to your money, but to your time, your focus, your energy, your

1:22.6

attention to any limited resource you need to manage.

1:25.6

So what matters most and how do you make choices accordingly?

1:30.0

This show covers five pillars, financial psychology, increasing your income, investing, real estate, and entrepreneurship.

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