Afford Anything

Markets and Investing

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.

Location:

United States

Description:

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.

Language:

English

Contact:

707-728-5202


Episodes

Ask Paula: My Dad Died, and My Mom Is CLUELESS About Finances

2/1/2023
#425: Ellen’s dad died unexpectedly. Her mom is clueless about finances. How does she help a 70-year-old unravel financial complexities? Mike has an opportunity to buy into his friend’s growing business. What should be his legal, financial, and relationship considerations? Pepp wants to know what’ll happen to her Restricted Stock Units when her company goes private. An anonymous caller needs to build her nest egg. She’ll be a full-time student with no income. She has 20 years until...

Duration:01:15:45

The Power of Knowing When To Walk Away

1/25/2023
#424: We’re taught to stay in the game. Persist. Be gritty. Try, try again. But sometimes, the best decision is to walk away. Move on. How do you know when that’s right? When should you double-down … and when should you fold? Today’s guest, Annie Duke, won more than $4 million as a professional poker champion. She wrote the bestselling book Thinking in Bets and co-founded a nonprofit that teaches kids decision-making skills. Her most recent book, “Quit: The Power of Knowing When To Walk...

Duration:01:10:06

Ask Paula: Can I Make Money With My Passion?

1/18/2023
#423: We’ve heard the warnings about following your passion. People ask if you can *actually* make money doing what you love. They frame the question “passion or profit?” as though these are in opposition. The majority – who have never tried – decry, “what if you fail?” Nobody asks the more important question: what if you succeed? Are you still going to love your passion when you rely on it to pay the bills? We grapple with that question in today’s episode, which is devoted to side hustles...

Duration:01:11:14

Ask Paula: We’re Saving 72 Percent Of Our Income … and It SUCKS

1/12/2023
#422: Emily is saving aggressively for financial independence, but it’s hard to enjoy the present. Is it time to increase spending? Monroe wants to stop working. Forever. Which is more important: debt payoff or investing? Another anonymous caller and his spouse dream of building a homestead on an expensive piece of land. How much is too much to spend on housing? Given the high costs of moving, Sarah wonders if buying a starter home is the best decision. Should she and her fiance jump...

Duration:01:15:53

How to Schedule Your Day for Peak Enjoyment, with Laura Vanderkam

1/4/2023
#421: Life is busy. We spend too much time on chores, errands, commuting, emails and other draining tasks. We lack time for joy and hobbies. Or do we? Today’s guest, Laura Vanderkam, talks to us about how to make the most of our time and carve out more space for gratifying experiences. Laura Vanderkam is a time management and productivity expert. Her latest work, “Tranquility By Tuesday: 9 Ways to Calm the Chaos and Make Time for What Matters” shares actionable steps to help you fill your...

Duration:01:02:39

What We Learned in 2022

12/28/2022
#420: Harvard professor Arthur Brooks described two types of intelligence – and explained, in scientific terms, the wisdom that comes with age. Dr. Ellen Vora, M.D., shared insight into the roots of procrastination, offering evidence-based tips for how to overcome our own inner demons of anxiety, fear and laziness. Psychology professor Bill von Hippel described why too much happiness is just as detrimental to our long-term health and wellbeing as too little happiness. Wall St. Journal...

Duration:01:29:43

Ask Paula: Should I Stay At My Job For the 401k?

12/21/2022
#419: Casey isn’t happy at her job. If she leaves before her one-year mark, she’ll lose her 401k contributions. Should she stay or find a new job? Daan resides in a high-cost-of-living area where real estate appreciates rapidly. But there’s no cash flow. How should he evaluate real estate as an investment? Emily already maximizes her 401k contributions. Should she contribute to an after-tax 401k next? Ryan’s investing for his son. If the yield is the same between two mutual funds, can he...

Duration:00:58:53

Maybe We Should Spend More, with Dr. Jordan Grumet

12/15/2022
#418: When Jordan Grumet was a child, his dad died unexpectedly. That was decades ago. Jordan is a father today, but he thinks often about the possibility of dying young. And he wonders how to balance enjoying today vs. saving for tomorrow, given that none of us know how long we’ll be on this earth. How do we think about our lives when the clock starts to run out? Beyond money, what other tools can we use to live a fulfilling life? Jordan Grumet, a hospice doctor and host of the Earn and...

Duration:00:48:20

Ask Paula: Marriage and Money: What Are the Right Conversations?

12/12/2022
#417: Our first anonymous caller is getting married. What are the financial considerations the couple should be thinking through since there is a large income gap between them? Our second anonymous caller is concerned about her ability to continue working due to major depression. Should she consider disability insurance? Carly is an accidental landlord and would love to keep her rental property. The problem? It’s losing money right now and she’d probably take a loss if she sold it. What...

Duration:01:09:51

The Crypto Crash, the Housing Market, and Hot Takes on the Latest Economic Headlines

12/2/2022
#416: Crypto is tanking. Household debt is climbing. Student loans are tangled up in the court system. And the house market…did what?! Today’s bonus First Friday episode takes a look at the latest economic headlines, with analysis, commentary and hot takes. Enjoy! For more information, visit the show notes at https://affordanything.com/episode416 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Duration:00:50:57

How I Give Away 41% of My Income, with Bob Lotich

11/30/2022
#415: The average American donates 2.1 percent of their income to charity, according to data from the Giving Institute. But an ordinary couple living in Nashville, Bob and Linda Lotich, refuse to be average. When they were both 31, they decided to “give their age” – they pledged to donate 31 percent of their income to worthwhile causes. They’ve increased their charitable giving every year since, to match their age. The couple is now 41 years old, and they give away 41 percent of their...

Duration:00:47:44

Ask Paula: I Think I Can Retire Early. Am I Crazy?!

11/23/2022
#414: Amanda is worried that her recently diagnosed health condition might force her to stop working. How should she financially prepare her family? Anonymous is a savvy DIY investor who wants to retire early and is wondering if she should hire a financial advisor. Should Krista tap into the equity from one of her rentals to rebalance a portfolio that is weighted heavily in real estate? Natasha thinks she and her husband have saved enough to retire early but it feels scary. Is she truly...

Duration:01:16:32

Why We’re Paying Attention to the Wrong Things, with Dr. Daniel Crosby

11/16/2022
#413: If an idea dominates the headlines, we notice it. But maybe we shouldn’t. Today’s guest, psychologist and behavioral finance expert Dr. Daniel Crosby, says there’s a difference between a prediction that gets repeated, and one that’s likely to unfold. What’s salient isn’t accurate, he says. And vice versa. He also talks about how money problems have morphed over time. He chats about how our evolutionary wiring is at odds with our goals. And he even discusses how we’re wired to be ‘lazy’...

Duration:00:59:09

Ask Paula: Should I Repay Debt or Invest?

11/9/2022
#412: Taylor recently graduated. She wants to reach financial independence as soon as possible. What should she do first: invest or repay low-interest debt? Carter doesn’t want to pay too much for his investments. He’s worried about the tax drag. He wants to know how to improve cost efficiency in his portfolio. How should he manage decisions about basis points, dividends and capital gains? Our first anonymous caller has been working and investing for a decade. Today her portfolio is large...

Duration:01:10:49

Invest Anywhere: Learn About a City Like an Expert

11/4/2022
#411: In the final installment of this two-part mini-series, we walk you through becoming a subject matter expert in your investment city of choice. We discuss who you should talk to, where you can find them and what you should talk to them about. Timing of discussion points as of November 2022: 06:11: Who you should talk to 10:09: Why conversations with non- real estate professionals are important 11:49: Where to meet other real estate investors 13:19: Expanding your network, character due...

Duration:00:38:04

The Routine Habits of Breakthrough Thinkers, with Jeremy Utley

11/2/2022
#410: You face plenty of problems. But you have a scarcity of good solutions. Stanford Professor Jeremy Utley can help. He says that solving complex problems requires creativity. And creativity comes from deliberate practice. It’s not an innate talent. It’s a skill. And it’s useful in any occupation, from accounting to zookeeping. Jeremy speaks and writes on the history of invention, discovery, creativity, and innovation. He also leads Stanford d.school's work with professionals. Today he...

Duration:01:08:29

Ask Paula: Should I Sell My Rentals to Buy More Stocks?

10/26/2022
#409: Liz and her husband are planning to retire in 5 to 10 years. They have rental income properties, but Liz is bored of managing these, and she’s intrigued by the idea of buying stocks at a discount when the market is low. Should she sell her rental properties and use the money to buy stocks instead? Rebecca is a high income earner and thinking about investing in a Roth 401k … but she’s scared of how much she’ll have to pay in taxes. Should she do it anyway? Anonymous made big changes...

Duration:01:07:17

Build Your 15-Year Career, with Kiersten and Julien Saunders

10/21/2022
#408: When Kiersten and Julian Saunders began dating in 2012, they fell in love quickly, and their relationship felt strong – until they started talking about money. They broke up as a result of their first money conversation. Luckily, they got back together, figured out how to have tough conversations, and paid off $200,000 in debt over the next five years. Then they started thinking about how to hack their careers. They came up with a plan for a 15-year career. Today, they join us on the...

Duration:01:00:33

Ask Paula: The 5 Types of Accountants (and Who To Avoid!)

10/12/2022
#407: Ionnie wants to vet her tax professional as diligently as she assesses her financial advisor – how should she go about doing that? Anonymous needs a career change, and she needs help figuring out how to approach the decision making process when choosing and preparing for her next field of employment MM prefers the simple path to wealth and investing in real estate but is looking for more information on a more intentional and selective approach to investing. Ingrid calls in to ask...

Duration:01:15:03

Invest Anywhere: I’ve chosen my city…now what?

10/7/2022
#406: In this two-part episode, we first tackle the data points needed to assess various investment locations within your city of choice. We will cover seven specific neighborhood characteristics to review before diving into deal finding, and three things to look at once you've found a specific deal to evaluate. Then, we interview Kristen Lazure, the producer behind the Netflix movie "Get Smart With Money". The movie follows 4 financial coaches — Tiffany Aliche, Peter Adeney, Ross Mac and...

Duration:00:48:44