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Afford Anything | Make Smart Money Choices

Q&A: Can They Be Financially Independent in Five Years … By Breaking the Rules?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.73.6K Ratings

🗓️ 30 July 2024

⏱️ 61 minutes

🧾️ Download transcript

Summary

#527: Luke and his wife are breaking some personal finance rules in the name of financial independence. Are they right to take this approach or is there a better way? Christina is worried. She’s retired with a paid-off condo in Florida. But rising fees, insurance rates, and a major HOA assessment are killing her cash flow. Is it time to become a renter? Les is surprised by Paula and Joe’s allocation recommendations for international equities. Based on market capitalization, it makes no sense. What’s he missing? 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/episode527 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Joe, is it ever okay to break the rules of personal finance in order to get to the goal faster?

0:04.9

It's always okay to break the rules. But the key is, you know this, Paula,

0:09.7

but I think a lot of our forters don't know this, you got to actually know what rules you're breaking.

0:14.3

And if you're actually unintentionally breaking other rules, later on you don't want to have to go,

0:19.7

oops, my bad.

0:20.7

Ah, yeah, yeah, yeah. So, okay, so it's like grammar right know the rules really well so that you can

0:25.4

break them with style. Yes. Nice. All right well we are going to hear from a listener who is breaking some personal finance rules

0:36.2

in order to get to financial independence faster.

0:40.1

Welcome to the Afford Anything Podcast, the show that understands you can afford anything, but not everything,

0:45.4

every choice that you make carries a trade-off and that applies not just to your money but your time,

0:49.5

your focus, your energy, your attention to any limited resource you need to manage.

0:54.0

What matters most and how do you make choices accordingly?

0:58.0

Those are the two questions this podcast is here to answer.

1:02.0

My name is Paula Pant, I trained in economic reporting at

1:05.3

Columbia. I help you focus on what matters. Every other episode we answer

1:09.8

questions that come from you and I do so alongside my buddy former financial advisor

1:15.4

Joe Saul C. Hi. What's up Joe? How's it going Paula? Oh I am fantastic.

1:21.5

Joe you know why I'm in such a good mood?

1:24.0

Because you're hanging out with me, duh.

1:26.0

Yes, well obviously, but in addition to that, we got an update from someone who called in earlier and now has a win to share. Take the W. Here's

1:37.4

Elizabeth.

1:38.4

Hi Paula and Joe. You kindly answered my question about taking a four-month pottery course in episode

...

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