520 episodes

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.

Afford Anything Cumulus Podcast Network

    • Business
    • 4.7 • 3.3K Ratings

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.

    Ask Paula: What to Do with a Six-Figure Windfall?

    Ask Paula: What to Do with a Six-Figure Windfall?

    #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
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    • 1 hr 8 min
    Gut Instincts and Big Decisions, with Morgan Housel

    Gut Instincts and Big Decisions, with Morgan Housel

    #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
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    • 1 hr 2 min
    Ask Paula: "Should I Put My Dreams on Hold … and Buy a House Instead?"

    Ask Paula: "Should I Put My Dreams on Hold … and Buy a House Instead?"

    #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

    • 1 hr 8 min
    Stocks are Hot. Jobs are Hotter. What’s Next?

    Stocks are Hot. Jobs are Hotter. What’s Next?

    #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
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    • 53 min
    How to Start a Business in One Weekend, with Noah Kagan

    How to Start a Business in One Weekend, with Noah Kagan

    #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

    • 1 hr 23 min
    Ask Paula: The Hidden Cost of Student Loan Forgiveness

    Ask Paula: The Hidden Cost of Student Loan Forgiveness

    #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

    • 1 hr 7 min

Customer Reviews

4.7 out of 5
3.3K Ratings

3.3K Ratings

User5012 ,

Absolutely Fantastic/Awesome Episode #476 with Mike Massimino!!

Paula’s podcasts are excellent. But I was very motivated to leave this five star review after listening to her recent episode (Episode #476) with Mike Massimino and how Mike dealt with setbacks on his path to becoming an astronaut and afterwards his lessons on leadership in the NASA program. FANTASTIC! I listened to other podcasts that featured Mike Massimino; but Paula’s interview was the most in depth (more than one hour) and allowed Mike to more fully share how his experiences impacted his life. I look forward to reading Mike’s book. Paula is a gifted interviewer. THANK YOU PAULA PANT AND AFFORD ANYTHING.

Frankie6868 ,

Great podcast

I really like the ask Paula episodes that have Paula and Joe on them.

Patricia Barrow ,

Sound Financial Advice

Love how this podcast gives sound advice instead of making the audience feel like they have to risk it all financially.

FIVE STARS.

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