Afford Anything Cumulus Podcast Network

#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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#510: Maybe you’re trying to convince:
– Your spouse | to embrace the FIRE movement.
– Your teenage kids | to invest some of their summer job money in stocks.
– Your neighbor | to sell you their house in a private, off-market deal.
– Your boss | to give you more vacation time.
– Your client | to pay you more.
Today’s episode is about how to change minds, build trust, navigate conversations, and influence and persuade others.
We chat with Michael McQueen, a social researcher, strategist, and the author of 10 books.
He’s spoken alongside Bill Gates, Apple co-founder Steve Woznick and Dr. John C. Maxwell, and was named Australia’s Keynote Speaker of the Year. His latest book, Mindstuck, focuses on how to be more persuasive.

Here are some of the ideas we cover:
Stubbornness: We tend to be stubborn because of our inherent desire to protect our existing beliefs and identities. This is partly due to the fact that the human mind has a tendency to make quick judgments and resist challenges.

Logical Fallacy: People often rely on confirmation bias and tribalism when evaluating information. We tend to favor information that aligns with our existing beliefs and groups we identify with.

Complexity over Extremes: When presented with opposing viewpoints, exposure to extreme viewpoints can – counterintuitively – make people more entrenched in their own beliefs. Introducing complexity and nuance can foster a more open-minded approach.

Here are some of his tips:

Uncover the Hidden Fear

Address the Loss Aversion

Use "Right and Reflect" to Get People Talking

Build Rapport and Choose the Right Moment

Frame Your Message for Impact

Move Beyond Persuasion and Focus on Progress


McQueen elaborates on these tips in today’s podcast episode. Enjoy!
For more information, visit the show notes at https://affordanything.com/episode510
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#509: Rob wants to retire early, but a real estate investment led to $30,000 of credit card debt. Should he take on more debt to pay it off?

An anonymous return caller took Paula’s advice and ran with it, doubling her income within a few years. Should she update her investment strategy now that she’s in a higher tax bracket?

Humaira is tired of paying rent with nothing to show for. Can she leverage some benefits by using her credit card to pay the bills?

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/episode509
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#508: Recently I chatted with Stanford researcher Dr. Mary Murphy, a renowned expert in the field of psychological and brain sciences.

Dr. Murphy, who is a Professor at Indiana University and conducts research at Stanford University, shared insights into the concepts of fixed mindset and growth mindset.

We deep dived into her extensive research on how these mindsets impact motivation, performance, and relationships at work and home.

She conducted research alongside legendary psychologist Dr. Carol Dweck, who created the original studies around fixed vs. growth mindset.

If you’ve ever read about fixed vs. growth mindset in the past, you’ve undoubtedly heard of Carol Dweck, who is legendary in the space. Dr. Dweck mentored Dr. Murphy at Stanford, the university from which Dr. Murphy received her Ph.D.

Dr. Murphy's insights can help you cultivate a growth mindset to overcome challenges and achieve your goals.
If you want to improve your performance — at work, at home, at the gym, as a world traveler, as an investor, or in any other domain — understanding the research behind mindset is critical.

Enjoy!
For more information, visit the show notes at https://affordanything.com/episode508
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#507: Robert was recently released from prison and wants to start his life on the right foot. What’s Joe and Paula’s advice for him?

Suzy is excited to deploy her first corporate bonus but scared to invest everything in a lump sum. Should she stick with what’s worked in the past and just dollar cost-average?

Meghan doesn’t understand how stock pricing affects capital appreciation. Is it always better to buy when share prices are low?

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/episode507
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#506: "Today's guest, Brandon Ganch, also known as the MadFientist, reached Financial Independence (FI) and quit his job as a software developer at 34. But then he faced a vexing question: what should he do with the rest of his life?

In this episode, Brandon shares his journey with FI, revealing the gap between the ideal life you envision on spreadsheets and the reality that unfolds. He talks about reaching FI sooner than planned, having more money than anticipated, and the adjustments he had to make to his lifestyle. It's a refreshingly honest look at FI that goes beyond the numbers.

We also dive into the changing landscape of work and the impact of automation, artificial intelligence and machine learning. Brandon talks about what he would do differently if he were in his 20's, and shares valuable insights on tools you can use to stay relevant and future-proof your career.

You'll enjoy this if:

-- You're on the FI path and want to ensure your plans are flexible enough for life's surprises
-- You're curious about the unexpected realities of achieving FI
-- You're concerned about automation impacting your job security

For more information, visit the show notes at https://affordanything.com/episode506
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