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Afford Anything

Author: Paula Pant

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Description

You can afford anything, but not everything. We make daily decisions and create habits around how to spend money, time, energy, focus and attention – and ultimately, our life. Every decision is a trade-off against another choice.

But how deeply do we contemplate these choices? Are we settling for the default mode? Or are we ruthlessly optimizing around a deliberate life?

Are we creating financial independence, early retirement and debt freedom? Are we managing money wisely?

Host Paula Pant interviews a diverse array of entrepreneurs, early retirees, millionaires, investors, artists, adventurers, scientists, psychologists, productivity experts, world travelers and regular people, exploring the tough work of living a truly excellent life. Listen to her interviews with Clark Howard, Gretchen Rubin, Cal Newport, James Clear, Chris Guillebeau and Dave Ramsey daughter Rachel Cruze.

Want to learn more? Download our free book, Escape, at http://affordanything.com/escape
183 Episodes
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How to Make Work Optional, with Tanja Hester
#178: Tanja Hester retired at age 38. She had a negative net worth until her late 20's, thanks to a combination of student loans, buying expensive cocktails and clothes, living far beyond her means, and not paying attention to her money. If you were to have met the 27-year-old version of Tanja, you wouldn't guess that she'd be a likely candidate for retiring early. Yet a decade later, she's saved 40x of her annual cost of living. How? Tanja worked as a political consultant in Los Angeles, and during her career, ascended to important high-ranking roles. Every promotion came with more grueling hours, accompanied by a raise. Tanja maintained her same standard of living, banking every raise. This simple strategy allowed her to rapidly grow her net worth. She didn't obsess about penny-pinching. She didn't clip 50 cent coupons for shampoo and soap. Instead, she focused her efforts on getting that next promotion, that next raise, and when it arrived, she saved and invested every additional cent. Today, at age 39, Tanja has published her first book, Work Optional, about saving enough to retire and live a lifestyle in which paid work is an option rather than a necessity. She joins us on this week's podcast to talk about the lessons she outlines in Work Optional. Here are 5 takeaways from this conversation. #1: We're taught that "you are what you contribute to the economy." Most of us learn, either explicitly or implicitly, that our self-worth is directly correlated with our economic efforts. This is an idea that we need to unpack and process as we face retirement, a mini-retirement, or any career transition. #2: Research shows that we perceive all change as loss, even if the change is positive. Retirement is a loss of identity. It's one of the most stressful and anxiety-producing life events. #3: Retirement and wealth will not create happiness. Money won't magically fix your life, health, relationships, outlook, or anything else. It's a tool that can help, but it's not a silver bullet. #4: A morning routine is grounding. It's an effective way to start your day feeling centered and calm. I'd recommend this for everyone, regardless of whether you're retired or not. #5: The easiest way to save is to keep living at the same level you're currently at, while earning more. Enjoy the podcast episode! For more information, visit the show notes at https://affordanything.com/episode178 
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Comments (9)

Ajit Nafade

Thanks for a very very informative episode.

Feb 3rd
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jinx

Amen to the echo chamber. Love your show.

Dec 17th
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LucilleF

I enjoy Size Orman. I've noticed that when she's talking positively about investing she uses impossibly high interest rates (12%) but now that she's casting a negative light she's using just 4%.

Nov 24th
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Maxwell Sharpe

I really enjoyed this episode it was very informative.

Oct 2nd
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Christie Brown

On the subject of high deductibles- I completely agree with the idea that you will go to the doctor less. I triple guessed myself on doctors visits when my deductible was $50. I also had a mouth full of cavities that were going to cost me about 5000, I did not fix them for another 3 years when I became an intern and took a major salary cut that made me eligible for Medicare!

Aug 23rd
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Joanna B

The Vicki Robin interview is one of favorite interviews of all time, full stop. So much wisdom packed in about personal growth, lifelong learning, and the second part of life. Thank you!

Apr 8th
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Melissa

This podcast drives me to become financially free. Great podcast!

Dec 15th
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David Johnson

I love this podcast and listened to it every day during my work commute until I heard them all! My life's focus and goals have adjusted for the better. Thanks Paula!

Oct 26th
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NASIM BIN JASIM

Great episode

Sep 19th
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