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Afford Anything

Author: Paula Pant | Cumulus Podcast Network

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You can afford anything, but not everything. We make daily decisions about how to spend money, time, energy, focus and attention – and ultimately, our life.

How do we make smarter decisions? How do we think from first principles?

On the surface, Afford Anything seems like a podcast about money and investing.

But under the hood, this is a show about how to think critically, recognize our behavioral blind spots, and make smarter choices. We’re into the psychology of money, and we love metacognition: thinking about how to think.

In some episodes, we interview world-class experts: professors, researchers, scientists, authors. In other episodes, we answer your questions, talking through decision-making frameworks and mental models.

Want to learn more? Download our free book, Escape, at http://affordanything.com/escape. Hosted by Paula Pant.

525 Episodes
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#495: Marie Curie won the Nobel Prize in Physics in 1903 and the Nobel Prize in Chemistry in 1911. She's famous for her work in radioactivity. Lin-Manual Miranda is a songwriter, producer and director who won the Pulitzer Prize in Drama in 2016, as well as several Tony awards. What do they have in common? They lived a century apart. They innovated in disparate fields. But they shared a similar productivity practice. Both achieved greatness by embracing the practice of slow productivity, says Georgetown computer science professor Cal Newport. Slow productivity is a three-part practice, Newport explains: (1) do fewer things; (2) work at a natural pace; (3) obsess over quality. We're used to thinking of productivity as doing more in a short amount of time. This flips that idea on its head, focusing on doing less, but excelling. Slow productivity is the practice of doing fewer tasks better. In this episode, Newport explains how the practice of slow productivity diverges from the normal ways that people in modern society tend to work.  If you’ve ever been challenged by the increasing demands of a fast-paced world, Life can be stressful. Your to-do list might feel never-ending. This episode can help you focus on the few things that matter most. It can help you feel less stressed, less busy, and yet -- paradoxically -- more productive, at the same time. Enjoy! For more information, visit the show notes at https://affordanything.com/episode495 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#494: Tatyana is about to pay off her house at age 39! What’s next? Her husband, who earns twice as much (and whom she met after she bought the home), has no savings. They want a boat. Should she focus there? Matthew recently ended a relationship that resulted in a real estate buyout with an 8.1 percent interest rate. With rates expected to decline, how long should he wait to refinance the loan? Rachel’s friends know her as the finance gal, but she’s stumped about closed-end funds. What should she know about these investments? Erin and Angelique call in with a loan strategy to tackle Steve’s double mortgage dilemma from Episode 478. 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/podcast-questions For more information, visit the show notes at https://affordanything.com/episode494 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#493: Do you ever wonder what happens behind closed doors on Wall Street? Vivian Tu, also known as Your Rich BFF, is here to spill the tea. Vivian grew up in a modest immigrant family. After college, she found herself working insane hours on Wall Street after college. While working on Wall Street, Vivian saw some weird things. Once, a coworker stumbled hungover into the office after a trip to Atlantic City, carrying a duffel bag with thousands of dollars in cash inside. Vivian realized that there's a group of high-income and high-net-worth people who handle money in drastically different ways than she learned in her frugal upbringing. She learned about investing, taxes, legal loopholes. She discovered new ways of thinking about money. She shares these insights -- gleaned from her Wall Street days -- in today's podcast episode. Resources mentioned: Book: Rich AF: The Winning Money Mindset That Will Change Your Life Attend the LIVE Recording of Afford Anything's 500th Episode! https://affordanything.com/live500 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#492: Christine’s business is struggling. She needs more income. If she adds a full-time remote job to her plate, how will her retirement and finances change? Rob enjoyed a banner year in 2023. He made over $1 million. But the sting of income tax has him making moves that violate his investment strategy. Is his tax tail wagging the dog? Gena is excited to make the most of business deductions. Can she contribute 100 percent of her wages to a 401k and have the company match that? Christina is tired of living like a pauper in the name of student loan repayment. Is Public Service Loan Forgiveness the answer? Former financial planner Joe Saul-Sehy and I tackle these four 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/episode492 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#491: Welcome, Emma Chamberlain’s fans!! Thanks for joining the Afford Anything community. You can find out how to escape the 9-to-5 grind at affordanything.com/escape Once a month, on the First Friday of the month, we explore the hot economic and money stories that are dominating the headlines. These days, Bitcoin is back in the news. As of Friday morning, March 1st, its price ranged around $62,000, which is pretty darn close to its previous all-time high of $68,700. But why? Crypto was hot in 2020, but it faded from memory in recent years. What’s behind the comeback? And what does that tell us about how investments become fads? Find out in today’s First Friday bonus episode. Bonus listening: https://affordanything.com/325-bitcoin-for-beginners for a deep dive into understanding how Bitcoin works. Learn more about your ad choices. Visit podcastchoices.com/adchoices
#490: Great communication will get you a raise. It'll get you promoted. You'll land the corner office. You'll make friends and be the life of the party. You'll land business deals and form lucrative partnerships. Supercommunication is a superpower. But how do we build it? Sometimes, you might walk away from a conversation with the joy of having made a cool new friend. Or you snagged a critical piece of information that you realllllly needed. Or you successfully negotiated an extra $5,000 off your car. On the flip side, sometimes you'll walk away from a conversation, scratching your head and wondering … “What just happened?” If either of these situations have happened to you, Charles Duhigg will help you understand WHY. Duhigg is a Pultizer Prize winning reporter. He holds an undergrad degree from Yale and an MBA from Harvard. He wrote for the LA Times and New York Times, before landing at The New Yorker. His first two books, The Power of Habit and Smarter, Faster, Better, have sold more than 5 million copies. Recently, he came out with a new book called Supercommunicators. He chats with us today to discuss the power of communication. Duhigg shares why communication is a critical component to happiness and success in every part of life. He discusses the different styles of conversations that people can have, which lead to either connection or disconnection. He also shares critical tips to help us all become supercommunicators and live richer lives. Enjoy! For more information, visit the show notes at https://affordanything.com/episode490 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#489: Cara made $100,000 in commissions this year, her biggest bonus ever. What should she do with the money if she wants to retire early? An anonymous caller is upset that the 401k plan he sold his boss on is charging him an Assets Under Management (AUM) fee. Should he keep the 401k at all? Remy and her husband need to come up with $30,000 for IVF treatments. How do they build their family without breaking the family finances in the process? Another anonymous caller and his partner have lived in an RV for years. They’re ready to settle. Should they sell most of his investments to purchase raw land and build an off-grid home? Former financial planner Joe Saul-Sehy and I tackle these four 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/episode489 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#488: Ever made a flippant, seemingly minor decision that radically changed the course of your life? Morgan Housel has experienced this. At age 17, he made a quick decision that ended up saving his life. Sadly, two of his friends were less fortunate. He shares that story in today's podcast episode, and sheds light on the lessons he's learned from it. Housel says that his lifesaving choice -- and many of our other important decisions -- are snap verdicts, ones that we don’t spend much time thinking about. If pivotal moments are decided in a flash, how do we navigate risk? How do we evaluate our options? Housel says this comes understanding concepts that remain constant, consistent, and universal. We need to accept that humans aren’t rational. We must appreciate the reasons why the best answer doesn’t always win. We ought to remember that we overlook many good things happening around us. These constants will most likely impact our futures. Housel was named by MarketWatch as one of the 50 most influential people in the market. He is the New York Times bestselling author of The Psychology of Money. His new book is titled Same As Ever. He joins us to discuss the ideas in his latest book. For more information, visit the show notes at https://affordanything.com/episode488 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#487: Luis’s wife is killing it at her side hustle. The unexpected income has led Luis to YouTube for hacks to capitalize on their surplus. Can a 529 plan double as long-term care savings? Elizabeth is frustrated with the housing market. She’s been saving for years but isn’t anywhere near her goal. Should she give up and spend it on a dream pottery course instead? Steve has a dilemma. He doesn’t borrow money on principle. And his wife doesn’t want to sell their current house until they’ve closed on the next one. How is he going to make this work? Greta wants to “reverse” rollover an IRA into a 401k to avoid the pro-rata rule. Is that a thing? Former financial planner Joe Saul-Sehy and I tackle these four 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/episode487 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#486: By every definition of the word, we’re in a bull market. The S&P 500 hit record highs for five consecutive days last week, and remained strong throughout this week. The Dow is above 38,000 for the first time in history. Unemployment has stayed below 4 percent for 24 months, marking the strongest employment in half a century. And consumer sentiment, which reflects more pessimism than the data warrants, is showing signs of improvement. The Fed met this week and decided to hold rates steady, as expected, but there are hints that they’ll start dropping interest rates within a few months. Inflation isn’t yet down to the Fed’s target rate of two percent, but it’s getting closer — with one notable exception. Auto insurance has skyrocketed; across the nation, car insurance is 17 percent higher than last year. Meanwhile, a shake-up in the real estate industry is creating tumult for the National Association of Realtors, which is facing its first serious challenge in 100 years. The outcome could determine how steeply you’ll have to pay when you sell your home. Where do we go from here? What’s next for the economy? We tackle these questions in this First Friday podcast episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode486 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#485: If you’ve ever thought: "I’d love a business BUT …” I don’t have TIME I don’t have MONEY I don’t have IDEAS I have TOO MANY ideas and I don't know where to start I'm not technical I'm not creative or artistic I'm not good at sales You're not alone. Countless people don't start businesses or side hustles for these reasons. And they're losing thousands -- perhaps millions -- in opportunity cost. How much could you make if you started a side hustle that eventually scaled into a business? Possibly millions. Today's guest, Noah Kagan, is living proof. Noah was employee #30 at Facebook. His stock options, if fully vested, would be worth over $1 billion today. (If you want to do the math -- his stock options came to 0.1 percent of the company, which has a current market cap of $1 trillion.) But Noah was fired just a couple months before his stock options vested. So rather than getting a billion-dollar payout, he got nothing. He sank into a deep depression, eventually recovering with the help of a therapist who counseled him on how to reframe the experience. Then he rolled up his sleeves and got to work. He became a serial entrepreneur, building multiple businesses. His most successful venture now makes $80 million in gross revenue, and his personal take-home is $3.3 million per year (which comes from a $200,000 annual salary and $3.1 million profit distribution.) His net worth is $36 million. Not a billion, but still not too shabby. Noah recently wrote a book called "Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours." He sits down with us (in person!) to share: -- how to find business ideas -- how to overcome objections and rejections -- how to scale By the end of the episode, the common objections that you often hear -- like "I don't have time/money/ideas" -- will be quashed. Please enjoy! For more information, visit the show notes at https://affordanything.com/episode485 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#484: Kristen’s financial advisor charges a 1.3 percent fee on her investments. They also sold her term life, whole life, and long-term disability insurance. Do they have her best interests at heart? Casey has $290,000 in student loan debt. He committed 10 years to one employer for a chance at public service loan forgiveness. But five years in, Casey questions what he’s missing out on. Sara feels like it’s time to move to a more conservative asset allocation but she’s torn between buying bonds from Vanguard or Treasury Direct. What’s the difference anyway? 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/episode484 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#483: Competitive. Results oriented. Driven to be the very best. These are a few ways to describe achievement culture. Achievement culture can also be described as stressful, high pressure and unhealthy. Yet, there is consistently the pressure – internally and externally – to make more money, be a better parent, spouse, friend, or employee. These burdens comes at a heavy cost to our well-being. Jennifer Breheny Wallace, author of the New York Times Best Seller “Never Enough: When Achievement Culture Becomes Toxic - and What We Can Do About It” shares with us how to manage our need for success AND how to avoid the toxic traps that can accompany obsession with success. She offers insights into the consequences of this culture on individuals' mental health, and overall well-being, while also discussing practical solutions to common challenges. If you've ever felt the burn of trying to do it all, or if you just want a smarter way to navigate success without losing your sanity, the insights shared in this interview will help you develop a more fulfilling and balanced life. For more information, visit the show notes at https://affordanything.com/episode483 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#482: A caller named “M” wonders if liquidating stocks for a larger down payment makes sense in a high-interest rate environment. An anonymous caller wants to take a pay cut to pursue his passions. But 75 percent of his net worth is in real estate. Is this too risky? Tiffanie hasn’t saved enough for early retirement, but she has a plan to use home equity to accelerate her goals. Is this going to work? 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/episode482 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#481: Predicting the stock market is a terrible idea. But we can look at economic indicators and upcoming events to get a big-picture, 30,000-foot view of where our economy might be heading in 2024. In today’s episode, we explore what’s in store for 2024. We talk about the recent surge in Bitcoin prices, and the expected SEC approval of a Bitcoin ETF. We discuss when the Fed will lower interest rates, and the impact this might have on home buying. We talk about Robert Kiyosaki’s recent admission that he’s holding $1.2 billion in debt. And we take inventory of black swan events and election year abnormalities that might impact the flow of money. Enjoy! For more information, visit the show notes at https://affordanything.com/episode481 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#480: The death of a sibling. Being declared dead after a head-on collision with a drunk driver. Suffering financially during the Great Recession. CANCER. Today’s guest, Hal Elrod, has battled all of these tough challenges. His little sister passed away in his mother's arms. Years later, Hal was hit by a drunk driver, broke 11 bones, declared dead, and once revived, learned that he might have to spend the rest of his life in a wheelchair. (He eventually regained his ability to walk.) And after that, he was slammed hard in the wallet during the Great Recession. But he's a fighter. He needed to develop practices to build his resilience. So Hal created “The Miracle Morning,” a morning routine practice that gained massive popularity when he released it in 2012. The six-step Miracle Morning routine is coined S.A.V.E.R.S. -- silence, affirmations, visualization, exercise, reading, and scribing (writing). The routine became wildly popular, in part due to its flexibility; Hal explains that time-crunched people can start this as a six-minute routine; dedicating just ONE minute to each of these six steps. Over time, people can see the positive changes that this makes, and expand the time they allot for this. The routine is now the subject of a documentary, also called the Miracle Morning, available on Prime Video. Midway through filming, Hal was diagnosed with a rare form of leukemia and given a 30 percent chance of survival. He let the cameras roll as he coped with his diagnosis in real time. He joins us on this podcast to describe that experience, and to talk about the practices that he's used to stay productive in the face of grief, severe injury and cancer.  He talks to us about: the powerful Five-Minute Rule that helped him recover from a nearly fatal car crash the six most popular personal development practices of the successful specific tactics you can harness to create YOUR most successful life. As we move into the New Year, many of you are setting goals and resolutions. Hal describes specific, actionable tactics that you can use to build scaffolding and support around your new goals. Enjoy! For more information, visit the show notes at https://affordanything.com/episode480 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#479: Nicole’s 78-year-old mom is paying huge fees for low returns. How can Nicole help her mom make better investments? Paul is a single dad, worried about paying his daughter’s college costs. He’s trying to figure out how to report lower income on the FAFSA, so that his daughter can get better financial aid. Nick is in his 40’s. His long-term care insurance rate is nearly doubling. Should he stop spending on this type of insurance? 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/episode479 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#478: Ever skipped that extra drink, pricey cheese, or a night out for the sake of your wallet? If this feels familiar, then you’ll appreciate today’s episode with Jamila Souffrant. Jamila is a Certified Financial Education Instructor, podcast host, and author, guiding us on making savvy choices to save while still having fun. Jamila explores the power of understanding our ""why not,"" staying motivated on our financial paths, shaping a success-bound mindset, and posing THREE crucial self-assessment questions for goal alignment. For more information, visit the show notes at https://affordanything.com/episode478 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#477: Kayla is torn between paying off a loan early or catching up on missed retirement contributions. Josh wants to retire early and meets the threshold for zero capital gains taxes. Should he put all his retirement savings into a brokerage account? An anonymous caller wants to know how to merge financial lives with her husband from another country. 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/episode477 Learn more about your ad choices. Visit podcastchoices.com/adchoices
#476: Mike Massimino stared in disbelief at his TV. The date was July 16, 1969, and he marveled as Neil Armstrong and Buzz Aldrin landed on the moon. At that moment, he knew he wanted to become an astronaut. He was six years old. But as Mike grew older, he developed more “realistic” dreams. After all, every kid wants to become an astronaut. The chances of making it are incredibly slim. He went to a local college, studied engineering, and took a job at IBM. But he couldn’t shake the tiny voice inside that said – “why not try?” So Mike upended his life. He enrolled in a Ph.D. program at MIT, and then proceeded to fail the qualification exam so badly that his professors gently suggested that perhaps a doctorate isn’t right for him. He battled to pass the exam on his second attempt, and went on to teach at Georgia Tech, from where he repeatedly submitted applications to NASA for their astronaut candidate program – which they called “as* can.” He was thrilled when he finally received his acceptance – until he learned that he needed 20/20 vision. At the time, NASA required astronauts to have naturally 20/20 eyesight, without surgery. So he sought out a doctor to help him re-train his eyesight. Then he learned that he’d need to pass a swim test. He was in his 30’s and had never swum. “Can’t I just take a math quiz?,” he joked. But he … didn’t let that sink him. (Pun intended). In today’s special episode, former NASA astronaut Mike Massimino explains how anyone – including you – can take your own moonshot. For more information, visit the show notes at https://affordanything.com/episode476 Learn more about your ad choices. Visit podcastchoices.com/adchoices
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Comments (42)

ankita ashok

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Jan 11th
Reply

Valerie Welbourn

no offense to your cohost, but I'd love a podcast with just Paula. it's just that her style resonates more with me.

Dec 16th
Reply

Bill Kusumoto

,

Jun 30th
Reply

Robert Pintar

Hi Paula, love the show and I look forward to the new episodes. I know you generally try to be really positive answering the questions, but I was bothered a little with the one where the woman from Florida who wants to retire at age 60 and is currently 44 with no retirement savings. I think you and Joe did a good job of trying to keep her hopes up, but it seemed the bottom line for her was she just may not be able to retire when she wants to. She said she already had a debt to income ratio of 45 pct and continues to add to her debt and has no emergency fund. That combined with other expenses and her income of 112k I bet she would have a hard time saving even 10k a year for retirement. And even if she could do it, that amount over 16 years at 7pct return would yield less than $300k. Hardly a nest egg. I know you mentioned that she didn't say in her question if she would be working part time when she retires or not, but sometimes people just need the hard truth and I don't think she got

Mar 29th
Reply

ID21703228

Love you Paula!

Jan 26th
Reply

Bradley Friend

10:54 Are you going to die young and wealthy, or old and broke? As if those are the only two choices! Who is young and wealthy? You cannot have your cake and eat it too, unless you are extremely lucky AND diligent.

Dec 17th
Reply

Johannes Frederiksen

Thanks, it's actually useful! I can tell you that I've been planning of getting into this field for a while, and I've already installed kitchen and bathroom cabinets from https://kitchensearch.com/ in order to increase the price of my house, and I feel like after a while, I'll decide to sell my house.

Oct 3rd
Reply

sub60

Thanks so much for answering my question! -Eve

Mar 30th
Reply

Fitzroy Harvey

Another one

Jan 4th
Reply

Emilia Gray

The global gambling industry is becoming more and more cryptocurrency-friendly, I found here https://dailyiowan.com/2021/10/18/top-3-best-crypto-betting-sites-players-pick-in-2021/ the best options for my leisure

Nov 8th
Reply

Diana

Understand your objectives > Narrow down your strategies to achieve these > Apply the right tactics. I appreciate how you guys were able to break this down following Jordan's question. #FinancialWisdom 🤓

Oct 9th
Reply

sub60

What a loon. Paula trying to add nuance while this guy is one track.

Mar 25th
Reply

Mary C

Awesome episode! Thanks to both of you for breaking everything down so clearly!

Mar 16th
Reply

Rose grace

Love Suze,she always tells it like it is.

Jan 4th
Reply

Mike Applegate

You can do monte carlo simulations on Vanguard's website.

Dec 2nd
Reply

Mike Schmid

Can't download it using beyondpod. It keeps failing!

Nov 4th
Reply

Ryan Slot

I disagree with the advice to Andy. I believe these times are different and our monetary system is changing. I would encourage people to educate themselves on money and currency. I would hate to see Andy and his children's futures destroyed due to lack of education on REAL money.

Jul 9th
Reply

Joy Joey Rockwood

Great episode! Just a heads up, the referral link for Qapital from does not provide the referral for $25 or give any directions on how to complete that. At least for me the app seems glitchy and I was not able to set up anything beyond linking my financing account. contacting support via the app directly was most un helpful and even a bit rude. That makes me nervous to have that info in their hands now. Love the show and no reflection on the podcast and Paula's advice and other affiliations.

May 19th
Reply

Eric Thompson

Get well soon Paula!

Mar 26th
Reply

Charlie Bradley

The first half is just them bantering and if you're interested in the personal life of the interviewee listen on, the second half gets down to the nitty-gritty and is very information-rich with a great summary that makes Paula's work some of my favorite podcasts.

Nov 21st
Reply (3)
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