Q&A: We Just Had a Baby and Lost Half Our Income

Afford Anything

Paula Pant | Cumulus Podcast Network

Investing, Entrepreneurship, Business

4.6 • 3.4K Ratings

🗓️ 17 June 2025

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

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Summary

#617: Austin and his wife are worried about moving to a single-income household while supporting two kids. Should they free up cash flow by paying off a car loan, or tighten up and stay the course? Paul has been retired for seven years, but still can’t shake his anxiety about not having enough. Is there a good way to know when he’s finally escaped the dreaded sequence of returns risk? Jonathan wants to build up his taxable brokerage account, but he’s having trouble letting go of the tax benefits of a Roth IRA. How does he get past his psychological hurdles? 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, how many miles did your most mileage car have?
0:03.5	Oh, I think $245,000?
0:08.4	Oh!
0:09.7	Made it a long way.
0:10.8	Well, our caller today has got you beat.
0:13.2	Oh, show off?
0:15.1	260,000 miles and going.
0:17.6	Wow, there's a flex.
0:19.1	Yeah, but this caller is going to have to replace that car soon
0:22.8	and has some debt-related questions associated with that. We're going to tackle that today.
0:27.9	We're also going to tackle a question from a caller who is wondering about sequence of returns risk.
0:31.9	We often talk about avoiding it, but how do you know when you're out of the woods? How do you
0:36.7	know when you have avoided it?
0:38.9	We're also going to answer a question from a caller who's deciding between the mathematically sound
0:44.3	decision versus the psychologically comforting one. We're going to tackle all three of those in
0:50.0	today's episode. Welcome to the Afford Anything podcast, the show that knows you can afford anything
0:53.6	but not everything. The show covers five pillars. Financial psychology, increasing your
0:58.3	income, investing, real estate and entrepreneurship. It's double-eye fire. I'm your host, Paula Pant.
1:03.2	I trained in economic reporting at Columbia. Every other episode, ish. I answer questions from you,
1:08.1	and I do so with my buddy, the former financial planner, Joe Salcii.
1:11.9	What's up, Joe?
1:12.9	Hey!
	...

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