Afford Anything Cumulus Podcast Network

#516: Have you ever wondered how small, seemingly insignificant actions can have massive impacts on your financial life? 
In today's episode, we talk to Dr. Brian Klaas, a Professor at University College London and an affiliate researcher at the University of Oxford. 
He explains how our decisions can lead to unintended and unanticipated consequences. 
He describes why resilience is more important than efficiency when it comes to protecting your investments and career from unexpected shocks. You'll learn how to tell the difference between predictable problems and those that are full of uncertainty, giving you a new way to think about your decision-making process.
Key Takeaways:

Embrace the unpredictability of life and recognize the interconnectedness of your actions.

Prioritize resilience over efficiency to mitigate catastrophic risks.

Understand the difference between predictable and uncertain challenges to make smarter decisions.


For more information, visit the show notes at https://affordanything.com/episode516
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Jessica and her husband are juggling two home sales and one home purchase within the next two to four years. How do they execute wisely while navigating a tight real estate market?
Zerai works two jobs that both offer a pension and retirement plan. Can he take advantage of everything at his disposal or must he make some tough choices?
Emily and her husband bought their home a year ago. But a national builder tempts them to sell and upgrade using a 3-2-1 buydown mortgage. Should they do it?
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!
TIMESTAMPS: Please visit the show notes at https://affordanything.com/episode515
Resources Mentioned:
https://www.irs.gov/retirement-plans/how-much-salary-can-you-defer-if-youre-eligible-for-more-than-one-retirement-plan
https://www.irs.gov/retirement-plans/irc-457b-deferred-compensation-plans
https://www.stackingbenjamins.com/start-2024-right-with-goals-jon-acuff-1459/

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#514: The S&P 500 hit a record high — and the GameStop guy is back, and he now owns 9 million shares of GME, making him the 4th largest shareholder.

Interest rates from remain the same, and are expected to hold steady until September. Inflation remains unchanged from last month.

Last month we saw a massive explosion of new jobs, at 272,000 — nearly 90,000 more than predicted. But we also saw unemployment tick up, which created mixed signals.

Learn the implications of the latest economic news — and how it impacts your wallet — in this month’s economic update.

For more information, visit the show notes at https://affordanything.com/episode514
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Jason Tartick, a former banker and TV star from The Bachelorette, discusses finances in relationships. He describes eight crucial questions about money that every couple should discuss.
When a couple is dating, but before they get serious, he says, each person should divulge their debt-to-income ratio. This is your monthly debt payments divided by your gross monthly income. Keeping this ratio below 30-40% is crucial for financial stability. Banks consider this when approving loans.
Couples still in the dating stage should also discuss their credit scores. If you're thinking about becoming serious with someone, you need to understand their history with debt, and their attitude towards debt, since you'll likely be co-borrowing together if the relationship lasts. A couple with a good credit score can save around $100,000 on a $300,000 mortgage over 30 years.
Couples should avoid shaming or blaming each other during these money conversations, he says. The goal is to understand each others' financial attitudes, habits and history -- not to point fingers or make judgments.
After marriage or lifetime commitment, Jason emphasizes the importance of having both individual and joint bank accounts. This allows each person to enjoy autonomy, while also contributing towards shared expenses. Regularly reviewing your net worth as a couple provides transparency and helps avoid misunderstandings.
He also talks about financial infidelity -- what is it, and how can you spot it?
Finally, Jason encourages couples to discuss spending habits, in order to understand each others' values and goals.
Here's a great question to ask your boyfriend, girlfriend, spouse or partner: "If you had an unlimited budget, what's the first thing you would you spend it on?" The answer reveals the persons' priorities.

For more information, visit the show notes at https://affordanything.com/episode513
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#512: An anonymous caller who received a large inheritance feels paralyzed by all the investment philosophies he’s read about. How does he pick a winning strategy he can stick with?

Josh is an expectant dad looking to buy a bigger house but doesn’t know how much everything will cost. Should he save more or invest more?

Another anonymous caller worries that large expenditures like buying a new car or replacing her home’s roof will blow up her budget in retirement. How does she plan for unexpected expenses?

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/episode512
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#511: Sara is five years from retirement with a paid-off house. But she’s worried that her money will run out before she turns 80. What does she need to do now to protect her future self? 

Lauren is a personal finance nerd who gets it. But one question perplexes her: When should she should choose an ETF over an index mutual fund? What about vice versa? Paula and Joe explain.

An anonymous caller plans to sell her house and live a “slow-madic” lifestyle. But she’s on disability and needs to keep her money safe. How should she invest her $500,000 windfall?

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/episode511
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