Afford Anything | Get Smarter With Money

Latest Episodes:

Ask Paula: Feeling FOMO About Your Home Equity? Here's What to Do Nov 01, 2023

Show notes

#469: Lindy feels like her $300,000 of accumulated equity could be put to better use. But she doesn’t want to buy more real estate right now. What’re her options?

Katie wants to become a landlord in her home state but she’s concerned about the effects of redlining. Should she look into Section 8?

Claudia lives in Germany and wants to buy an apartment in Manhattan. But she knows nothing about US real estate. Where does she start?

I tackle these 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/episode469

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How MICE Impacts Your Money, with Bryan Kuderna Oct 26, 2023

Show notes

Money management is all about setting priorities.

Maybe you have the twin goals of sending your kids to college while also saving enough for retirement.

And maybe you’re struggling to figure out how to balance the two.

Today, Bryan Kuderna, a certified financial planner, shares a framework for helping us set priorities.

We talk about the importance of economic literacy, in addition to financial literacy. We discuss how retirement has changed throughout history. And we apply those broader lessons to how you think about retirement.

For more information, visit the show notes at https://affordanything.com/episode468

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Ask Paula: Use One Debt to Pay Off Another? Oct 18, 2023

Show notes

#467: Should Knoxville use a higher-interest Home Equity Loan (HELOC) to pay off a lower-interest 401k loan?

Joelle’s tenant is interested in a rent-to-own agreement. Is this a good idea from a landlord’s perspective?

A recent wildfire shifted Sharon’s house into a flood zone. Should she sell before FEMA redraws the map and it becomes official?

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.

For more information, visit the show notes at https://affordanything.com/episode467

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How to Handle Medical Bills, with Dr. Virgie Bright Ellington Oct 12, 2023

Show notes

#466: The Consumer Financial Protection Bureau reported in 2022 that medical debt is the most common reason to get a debt collector call. A Census Bureau study in 2021 found nearly 1 in 5 households (19%) couldn’t pay for medical care when it was needed.

These statistics underscore the fact that the potential for unforeseen medical expenses to negatively impact our lives is ENORMOUS.

Dr. Virgie Bright Ellington, a medical billing expert and author of “What Your Doctor Wants You to Know to Crush Medical Debt,” joins us for today’s episode to discuss the thorny topic of medical expenses.

The episode begins by acknowledging the widespread and detrimental impact that medical bills can cause, especially in a healthcare system as intricate as the one in the United States.

Dr. Ellington emphasizes the importance of proactively addressing medical bills to prevent them from becoming a source of financial stress.

She then shares a detailed roadmap that will empower listeners to navigate the complex world of medical bills with confidence, ultimately achieving financial peace of mind in healthcare.

For more information, visit the show notes at https://affordanything.com/episode466

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Good News for the Economy; Bad News for the Markets Oct 06, 2023

Show notes

#465: The Fed is holding interest rates steady for now. The jobs report is better than expected. Stocks and bonds are both going down. What's going on right now in both the economy and in the markets and where should you put your money and your time and attention? That’s what we’re going to cover in this episode.

Links mentioned:

https://affordanything.com/inflation

https://affordanything.com/365

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The Science of Friendship (and How It Improves Your Net Worth), with Dr. Marisa Franco Oct 04, 2023

Show notes

#464: More than ever, most people's lives are packed to the brim with activity. We are trying to fit in demanding jobs and families, commuting and a neverending list of chores. Social lives often suffer.

It’s no wonder that in 2021, 12% of U.S. adults said they did not have any close friends, up from 3% in 1990.

This has enormous consequences on our health, productivity, and our ability to grow our net worth, make money, and enjoy life.

Dr. Mariso Franco, a renowned psychologist and best selling author, shares invaluable insights on the significance of fostering meaningful connections and discusses the detrimental impact of NOT having fulfilling connections in our lives.

Today’s episode also delves into the importance of connection in the workplace. We chat about how cultivating genuine relationships with colleagues can boost productivity, enhance job satisfaction, and contribute to a positive work environment.

Throughout the episode, Dr. Marisa Franco shares practical tips and actionable advice on how to nurture and sustain friendships in our fast-paced, digital age and improve our overall well- being.

For more information, visit the show notes at https://affordanything.com/episode464

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Ask Paula: Student Loan Deferment HACK – How Christina Saved $60,000 in Interest Sep 27, 2023

Show notes

#463: Mary is struggling to compare two job offers: one from a large corporation and another from a tiny business. How should she decide?

An anonymous caller wants to buy a different home, and convert his current home into a rental. How should he finance this move?

Christina recently slayed her debt and put herself on track for financial success. But now she’s bored. How can auto-investing be more exciting?

Speaking of debt, Christina shares a creative HACK to SAVE $60,000 in student loan interest payments.

Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.

Enjoy!

P.S. Got a question? Leave it here.

For more information, visit the show notes at https://affordanything.com/episode463

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Cracking the Code of the Rich, with Seth Stephens-Davidowitz Sep 21, 2023

Show notes

#462: As a society, we’re fascinated by stories of the rich. We hear news, see social media posts, and read books about how others become wealthy, how to maintain that status, and what their lifestyles look like.

But what if the media we’re consuming is misleading us?

Dr. Seth Stephens-Davidowitz’s research shows that the stories about the rich that dominate the popular press are misleading.

Stephens-Davidowitz holds a PhD in economics from Harvard University. He’s a data scientist and a New York Times bestselling author.

In today’s episode, we discuss the misleading stories around the rich. We unearth the truth behind those stories, using data rather than narrative.

We explore the types of businesses that quietly make people millionaires. We describe the ages, occupations and locations of people that become rich, and the unexpected paths they take to achieve this. And we share actionable takeaways that will help you do the same.

Discussion as of September 2023:

01:38: Who gets secretly rich?

02:18: The kind of protection you need if you want to be rich

04:10: The number one way to become a millionaire

08:44: What is takes to be a successful entrepreneur

09:19: The detrimental impact of some stories

12:48: The worst kind of businesses

17:14: Who makes up the best entrepreneurs?

21:18: Increase your luck surface area

27:57: How to revolutionize a field

30:37: The ACTUAL path to entrepreneurial success

32:08: The role of duration neglect in decision making

For more information, visit the show notes at https://affordanything.com/episode462

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Ask Paula: A Year Off Work, a Career Change, and a Divorce: How to Make It Work Sep 13, 2023

Show notes

#461: A special LIVE recording in front of an audience at Podcast Movement, an industry conference in Denver.

Former financial planner Joe Saul-Sehy and I tackle two questions in today’s episode. Our first question comes from a soon-to-be-single-mother on the precipice of divorce. How should she navigate this financially?

Our second question comes from the spouse of a Purple Heart veteran of the war in Afghanistan. She and her husband would like to take a one-year sabbatical from work when they turn 40, which is in five years. They’d also like to pivot into lower-paying but more enjoyable careers. How should they map out their money for this transition?

Joe and I dedicate this episode, recorded live on stage, to answering these two questions.

Enjoy!

P.S. Got a question? Leave it at https://affordanything.com/voicemail

For more information, visit the show notes at https://affordanything.com/episode461

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The Mental Toughness and Confidence Blueprint, with Dr. Nate Zinsser Sep 06, 2023

Show notes

#460: Mental toughness is the bedrock of starting a business, growing a multimillion-dollar portfolio, investing in real estate, crushing your debt, retiring early.

Today’s guest, Dr. Nate Zinsser, mentors elite athletes, soldiers and executives in confidence and mental toughness. He is the sports psychology mentor for two-time Superbowl MVP Eli Manning and the Director of the Performance Psychology Program at the U.S. Military Academy at West Point.

He’s mentored the NHL’s Philadelphia Flyers and NCAA teams, and has been a consultant for the FBI Academy, U.S. Army Recruiting Command, and the NYC Fire Department. He holds a PhD in sports psychology from the University of Virginia.

In today’s episode, we discuss how to develop the type of mental toughness and confidence that can help you grow your investments, start a business, take risks in your career, make offers on houses, and overall master your financial life.

For more information, visit the show notes at https://affordanything.com/episode460

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