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Astu lugude lõputusse maailma

Loe ja kuula

Paula Pant | Cumulus Podcast Network

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

#661: When your income drops, debt spikes, and a rental property starts bleeding cash, it can feel like your entire financial foundation is cracking beneath you. Veronica, our first caller, is navigating all of it at once, from a near-foreclosure to a luxury car payment that’s strangling her budget. Her question is simple but enormous, how do you rebuild when you’re overwhelmed and out of margin?

Once we work through her path forward, we shift to a listener on the opposite end of the spectrum. Daniel has maxed his Roth IRA, HSA, 401(k), and 457, and now sits on growing surplus cash. We talk about where extra money belongs when you’re aiming for early retirement and wondering whether to invest, save, or crush a low-interest mortgage.

And to close, we take on a question dominating every financial feed right now, what if AI stocks really are in a bubble? We break down what it means to short the market, whether put options are actually a “safe” bet, and how to position a portfolio if you’re worried about tech valuations.

Listener Questions in This Episode

 Veronica asks (02:06): How do I dig out of debt, repair my credit, and stabilize my rental after nearly going into foreclosure. 

 Daniel asks (28:17): What should I do with my surplus side hustle cash when I already max tax-advantaged accounts and have a 3.5 percent rental mortgage.

 Scarlet asks (49:20): If AI stocks are in a bubble like the dot-com era, is there any relatively safe way to profit from a crash, such as put options.

Key Takeaways

 Why tackling the right problem first can change the entire trajectory of a debt recovery plan.

 How downsizing one major expense can unlock breathing room you didn’t realize you had.

 The surprising factor that often matters more than interest rates when choosing between investing and debt payoff.

 Why flexible money becomes essential when planning for early retirement.

 What most people misunderstand about betting against a bubble, especially in fast-moving tech sectors.

 The simple portfolio shift that can help calm bubble anxiety without trying to time the market.

Resources and Links

 
GreenPath Financial Wellness – nonprofit credit counseling and debt management support for people overwhelmed by payments and afraid of bad actors in the debt relief world.

 Our course: Your Next Raise – a deep dive on how to negotiate a higher salary at work, with a special comp offered in this episode.

 
Paul Merriman Four-Fund Portfolio – the simple, diversified investing framework Daniel uses inside his retirement accounts.

 
The Big Short movie Michael Lewis and the film adaptation.

 
1929 book by Andrew Ross Sorkin – a historical look at bubbles and crashes.

Chapters

Note: Timestamps are approximate and may vary greatly across listening platforms due to dynamically inserted ads.

(0:00) Veronica’s debt crisis and rental challenges 

(16:46) Cutting car costs and rebuilding cash flow 

(22:28) Debt relief programs and avoiding bad actors 

(28:17) Daniel’s surplus cash and retirement strategy 

(37:52) Brokerage vs mortgage payoff discussion 

(49:20) Can you profit from an AI bubble burst 

(1:00:40) Why shorting and puts rarely pay off 

(1:08:18) Safer ways to position your portfolio

Got a question: Call it in: https://affordanything.com/voicemail

Share this episode with a friend, colleagues, your veterinarian: https://affordanything.com/episode661
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Q&A: She's Broke. He's Rich. And You're Asking About AI Stocks.

#660: Caring for an aging parent can morph into a second full-time job, and even the most financially savvy adults get blindsided. Bank accounts freeze, home sales stall, and family savings disappear faster than anyone expects.

In this episode, we dig into what really happens when you take over a parent’s financial life, from the first power of attorney to the final tax return. 

We explore the emotional and logistical realities of dementia care, Medicaid, trusts, probate, and why a single smartphone setting can determine whether you can access the information you need.

Veteran financial journalist and certified financial planner Beth Pinsker joins us to share the hard lessons she learned while managing her parents’ money, housing, and estate. She opens up about the “you don’t know what you don’t know” moments that hit even experts.

We look at why almost every caregiver reaches a breaking point, the two documents that can save a year of stress and tens of thousands of dollars, how a forgotten zero-balance home equity line nearly torpedoed a real estate deal, and why phone access now belongs at the center of estate planning.

We also confront the brutal math of long-term dementia care, the real differences between Medicare and Medicaid, how to evaluate facilities beyond brochures, and what happens when a parent dies without updated paperwork. Through it all, we focus on how clear conversations about wishes and values can reduce guilt and burnout for the people left steering the ship.

Key Takeaways

 Financial caregiving comes for almost everyone eventually, and even experts hit roadblocks, so the goal is not perfection but reducing avoidable chaos.

 Power of attorney and healthcare proxy documents are foundational, often more urgent than a will, and they need to be current, state-appropriate, and shared with the people who may need to use them.

 A locked smartphone without a legacy contact can become a financial brick, cutting caregivers off from essential clues about accounts, subscriptions, and bills.

 Long-term dementia care can run five to six figures per year, outlasting even solid nest eggs, so families need to confront the realities of Medicaid and state-specific safety nets before the money runs out.

 How assets are titled, from bank accounts to real estate, determines whether heirs inherit smoothly through a trust or spend years and thousands of dollars navigating probate.

 The most important “plan” is knowing a loved one’s wishes for quality of life and end-of-life care, so financial and medical decisions feel like honoring them instead of guessing in the dark.

Key moments

(0:00) Why financial caregiving blindsides even the experts

(05:18) The hidden home equity line that almost killed a real estate deal

(10:54) Two documents every adult in your life should have

(14:29) The critical phone setting that protects access to accounts and memories

(21:23) What Prince’s estate taught us about wills and inertia

(31:39) Planning for a decade of dementia care without going broke

(35:16) How Medicaid really works and why “running out of money” is a process

(38:46) The menu of care options from in-home help to CCRCs and nursing homes

(44:31) The “smell test” for evaluating facilities in the real world

(51:06) What to do in the first weeks after a parent dies

(54:38) Trusts, titles, probate, and how one frozen account cost $5,000 to unlock

(01:01:04) Knowing their wishes so money decisions feel like honoring, not guessing

Resources and Links

 Beth Pinsker’s website: bethpinsker.com

 Beth’s retirement and financial planning columns at MarketWatch

 Beth’s book, My Mother's Money, on financial caregiving and planning for aging parents and loved ones

Share this episode with a friend, colleagues, and anyone who is thinking about caregiving: https://affordanything.com/episode660
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The Brutal Math of Caring for Aging Parents, with MarketWatch Columnist Beth Pinsker

#659: Imagine that you’re at the absolute peak of your career. You’re the CEO of a prominent advertising company at the age of 36, but you feel like you’re driving in the wrong lane. It’s wrong.Then you make a hard career pivot and it works out beautifully.My guests today know exactly what that’s like. We’re joined by James Patterson, the author who has sold more than 425 million copies of his books. He has co-authored books with President Clinton, Dolly Parton, and now his latest co-author is Dr. Patrick Leddin, who also joins us to talk about disruption.

Timestamps:

Note: Timestamps will vary on individual listening devices based on dynamic advertising run times. The provided timestamps are approximate and may be several minutes off due to changing ad lengths.

(0:00) Defining disruption versus gradual change

(5:20) Positive disruption mindset and overcoming fear

(8:12) Process for uncovering personal passions

(10:25) Patterson disrupts publishing with six books per year

(13:45) Research reveals 16 disruptive behaviors

(16:30) Academia embracing different voices and perspectives

(21:00) Mountain climber story shows gradual disruption

(24:14) Framework for navigating career transitions

(28:19) Limiting beliefs and psychological barriers

(30:55) Being open to change versus stability

(35:00) Taking ownership of disruptive choices

(41:00) Mission versus purpose distinction

(46:37) Advice for embracing positive disruption

Share this episode with a friend, colleagues, and James Patterson book fans: https://affordanything.com/episode659
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James Patterson Shows Why Comfort Can Be a Trap

#658: An unusual First Friday episode because we don't have a jobs report. 

However, we do know that in October, U.S. companies announced more job cuts in a single month than they have over any single month of the last 20 years. In other words, October was peak job cut month. 

By contrast, private payrolls, as reported by ADP, rose by 42,000 in October, so we have a little bit of conflicting data. Some pessimistic, some optimistic. We're going to take a deeper look at that in today's episode. 

Timestamps:

Note: Timestamps will vary on individual listening devices based on dynamic advertising segments. The provided timestamps are approximate and may be several minutes off due to changing ad lengths.

(00:00) Conflicting Job Market Data

(03:40) Youth Unemployment and AI’s Impact

(10:16) Fed Rate Cuts and Housing Market

(20:23) New Job Postings Lowest in 4 Years

(20:54) Consumer Sentiment 

(22:04) Social Security Payments Increase in 2026

(23:33) Rising Car Costs and Repossessions

(24:46) Good News for Prescription Drug Prices

(31:50) Government Shutdown Impacts
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First Friday: When the Gov’t is Closed, Where Do We Find the Numbers?

#657: This week, Paula and Joe dig into a listener’s question about ETFs that track the stock trades of U.S. politicians — including the Democratic “NANC” fund and its Republican counterpart “KRUZ.” They explore whether this strategy is smart investing or just expensive entertainment.

Then, they shift gears to home ownership headaches. Another listener asks how to control ballooning maintenance costs, and Paula shares her best advice for finding trustworthy contractors, budgeting for repairs, and knowing when DIY doesn’t actually save money.

Finally, an anonymous caller wonders if starting a small business just for tax breaks makes sense. Paula and Joe explain the IRS rules — and why energy and purpose matter more than deductions.

From “fun money” investing to financial planning that actually works, this episode is all about balancing curiosity, caution, and common sense.

Key Takeaways

 Congressional-trade ETFs aren’t a shortcut to wealth. They’re speculative, lag behind real trades, and carry high costs

 Home maintenance is predictable — plan for it. Create a repair timeline and build relationships with investor-friendly contractors

 DIY isn’t always cheaper. Factor in time, tools, and opportunity cost

 Never open a business just for taxes. If it doesn’t make a profit or bring joy, it’s an energy drain, not a strategy

 Separate fun money from freedom money. Keep speculation playful, and build wealth with focus and purpose

Chapters

Note: Timestamps will vary on individual listening devices based on dynamic advertising segments. The provided timestamps are approximate and may be several minutes off due to changing ad lengths.

(00:00) Should You Follow Congress’s Trades?

(06:00) The Lag Problem and Investor Bias

(10:30) The “Fun Money” Rule

(11:20) The Hidden Cost of Home Repairs

(15:00) Finding Investor-Friendly Contractors

(18:00) Planning Ahead for Repairs

(22:00) DIY vs. Opportunity Cost

(26:00) Starting a Small Business for Tax Breaks

(29:00) The IRS “3-of-5 Rule”

(32:00) Purpose Over Deductions

(34:00) Final Thoughts

https://affordanything.com/voicemail

Share this episode with a friend, colleagues, and all the Nancys in your life: https://affordanything.com/episode657
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Q&A: Can You Really Beat the Market by Copying Members of Congress?

#656: What would you do if someone in authority told you to do something that felt wrong? Most of us like to think we'd speak up, push back, stand our ground. But research tells a very different story.

In fact, when Yale researchers conducted a famous experiment in the 1960s, they found that 65% of people would administer what they believed to be deadly electric shocks to another human being... simply because someone in a lab coat told them to.

Today's guest has spent over 15 years studying why humans comply with authority - even when every fiber of our being is screaming that we shouldn't. And when it comes to our money, this tendency to comply with authority figures - from financial advisors to real estate agents to car salespeople - can cost us dearly.

Dr. Sunita Sah began her career as a physician in the UK's National Health Service. During one particularly exhausting period as a junior doctor, she agreed to meet with a financial advisor who had contacted her at work. That meeting sparked questions that would shape the rest of her career: Why did she feel pressured to trust this advisor, even after learning he had a conflict of interest?

Today, she's a tenured professor at Cornell University, where her groundbreaking research on compliance and influence has been featured in The New York Times and Scientific American. She's advised government agencies, served on the National Commission on Forensic Science, and helps leaders understand the psychology behind why we say "yes" when we really want to say "no."

Whether you're meeting with a financial advisor, negotiating the price of a home, or discussing rates with a contractor, understanding the psychology of compliance could save you thousands of dollars - and help you make better financial decisions. Today's conversation isn't just about psychology - it's about protecting your wealth by learning when and how to say "no."

Resources Mentioned in the Episode:

- Website: sunitasah.com

- Newsletter: Defiant By Design | Dr. Sunita Sah | Substack

- Connect with Dr. Sunita Sah

- Follow Dr. Sah on Instagram

About Dr. Sunita Sah

Dr. Sunita Sah is a tenured professor at Cornell University specializing in organizational psychology. Her research focuses on how and why people comply with authority, even against their better judgment. A former physician in the UK's National Health Service, Dr. Sah brings a unique perspective to understanding human behavior and decision-making. Her work has been featured in leading publications including The New York Times and Scientific American, and she has served as a Commissioner on the National Commission on Forensic Science.

Share this episode with a friend, colleagues, and your cohorts: https://affordanything.com/episode656
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Would You Shock a Stranger? What a 1960s Experiment Reveals About Your Money Decisions

#655: What would you do if, at the age of 23, you found yourself with $70,000 a year leftover after expenses? Would you pour everything into retirement and coast to financial independence, or stockpile a down payment before life gets pricier with kids, a mortgage, and maintenance costs? 

This week, we dive into that real-life dilemma and explore how to strike the perfect balance between freedom now and security later.

Along the way, we question whether a 0.40% fee for automated tax-loss harvesting is really worth it, and debate if the rise of mega-corporations means small-cap value investing is dead.

Listener Questions in This Episode

 
“Julio” asks: How should we split savings between Coast FI and a future down payment, and where should that down payment sit? (01:48)

 
Lindsay asks: Is 0.40 percent worth it for Fidelity’s tax loss harvesting and how do we unwind back to self managed index funds? (32:31)

 
Greg asks: If a handful of giants dominate, should we ignore history and tilt to only the top companies instead of broad markets and small cap value? (50:51)

Key Takeaways

 The right savings balance may depend less on math and more on clarity about what “home” really means to you

 Building a down payment might be the fastest way to reach Coast FI, but not for the reason you’d expect

 Parking cash safely is trickier than it sounds, especially when the market tempts you with higher returns

 That 0.40 percent fee could be either a silent drag or a smart trade-off, depending on one often-overlooked detail

 The rise of mega-caps might look unstoppable, yet history has a way of surprising even the biggest players

 True diversification isn’t about predicting winners, it’s about protecting future you from overconfidence today

Chapters

Note: Timestamps will vary on individual listening devices based on dynamic advertising segments. The provided timestamps are approximate and may be several minutes off due to changing ad lengths.

(00:00) Are we headed for a dystopian future

(01:48) A 23-year-old with a $125k income and a big savings gap

08:52) House price, down payment size, and the numbers that drive the split

(10:47) The savings snowball case, match protection, and timeline trade-offs

(25:14) Where to park the down payment, why cash beats stocks for readiness

(32:31) Is 0.40 percent worth it for tax-loss harvesting

(36:24) Fees versus claimed tax savings, turnover, and exit options

(50:51) Should dystopia change our portfolio

(54:36) Small-cap value beyond tech, acquisitions, and global opportunity

(1:11:02) Optimism, innovation, and why investing still assumes progress

P.S. Got a question? Leave it at https://affordanything.com/voicemail

For more information, visit the show notes at https://affordanything.com/episode655
Learn more about your ad choices. Visit podcastchoices.com/adchoices

Q&A: How to Choose Between Financial Freedom and a First Home

#654: Fights about money are common, but they're rarely about math. They're about power, shame, vulnerability, and trust. And no amount of data or fancy spreadsheets is going to fix it. What you need is a better system for fairness, more open communication, and a shared ambition.

In this candid conversation with Heather and Doug Bonaparte, we explore how two partners rebuilt confidence, handled their six-figure student loans, and designed a rhythm for money talks that actually works. 

Together they share how early money stories, law school debt, and the Great Recession shaped their dynamic, plus the tools they used to find fairness at home and in their finances

Key Takeaways

 Why 50/50 isn't always fair and how to do it better

 The small ritual that turned dreaded money talks into something they actually look forward to

 How borrowing a strategy from the office made household decisions way less stressful

 The surprising fix for resentment that had nothing to do with chores or budgeting

 Why tackling six-figure student loans together became a turning point in their relationship

 The mindset shift that helped them see debt not as a burden but as a shared opportunity

Resources and Links

 
Money Together, the book

 
DoMoneyTogether.com, learn more about the book and project

 The Joint Account, weekly newsletter on joint finances at ReadTheJointAccount.com

 
Fair Play by Eve Rodsky, a framework for dividing household responsibilities

Share this episode with a friend, colleagues, and anyone who is part of a couple: https://affordanything.com/episode654
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How to Stop Fighting About Money

#653: What happens when we actually check our predictions? In this episode we play clips from our 2023 conversation with Scott Trench from BiggerPockets and ask the uncomfortable question: were we right?

Two years ago we made some big calls about the housing market. Mortgage rates had doubled. Prices hadn’t crashed. Inventory was vanishing. Everyone had a theory about what would happen next. Now we look back with data and receipts to see which forecasts held up and which ones fell flat.

Scott joined us in 2023 to talk about the lock-in effect, the shortage of sellers, and why homebuilders might be stronger than expected. At the time it sounded contrarian. Two years later the evidence is in. Homeowners with low mortgage rates are still staying put. Builders have taken market share by offering creative incentives. Multifamily supply has exploded in some cities, while small residential properties have held their value better than many expected.

We revisit our old clips and grade them one by one. What did we get right about the housing market’s resilience and where did we miss? You’ll hear how rate volatility created bursts of demand, how regional migration reshaped supply, and why small investors can still find opportunities even when the headlines say otherwise.

This episode isn’t about victory laps. It’s about accountability. If you’ve ever wondered whether experts truly revisit their own calls, you’ll love this one.

Key Takeaways

 The lock-in effect remains one of the most powerful forces in today’s housing market

 Builders have been surprisingly resilient thanks to incentives and creative financing

 Multifamily oversupply is pressuring rents in some regions while small residential properties remain steady

 Market outcomes are more local than ever; national averages hide major differences

 Real estate predictions matter only if we’re willing to go back and test them

Resources and Links

Our course Your First Rental Property open for enrollment through October 30 at affordanything.com/enroll

Chapters

Note: Timestamps will vary on individual listening devices based on dynamic advertising segments. The provided timestamps are approximate and may be several minutes off due to changing ad lengths.

(0:00) Why we’re replaying our 2023 predictions

(4:24) The strange housing market of 2023

(5:04) The lock-in effect and vanishing inventory

(6:03) Builders finding ways to keep selling homes

(12:12) How rate dips created bidding wars

(14:03) The construction pipeline and what happened next

(37:24) 2025 check-in on prices and incentives

(55:06) Regional winners and losers

(58:27) Small residential versus large multifamily

(1:06:08) Final reflections and what we learned

Share this episode with a friend, colleagues, and anyone in the real estate space: https://affordanything.com/episode653
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Radical Transparency in Real Estate Predictions

#652: What if you did everything “right”, earned the degree, landed the six-figure job, and still felt broke?

That’s exactly where Rose Han found herself. Fresh out of NYU with a finance degree and a Wall Street paycheck, she had a negative net worth, mounting stress, and a sinking feeling that traditional success wasn’t the path to freedom.

In this conversation, Rose shares how she broke out of that cycle and built a seven-figure business that gives her time, independence, and peace of mind. We explore how she reframed her relationship with money, learned to scale her income, and built a life that aligns with her values.

Key Takeaways

 
When a “side hustle” becomes just a second job

 
How your uniqueness is your greatest asset

 
The slow season that led to a million-dollar leap

Resources and Links

 
Rose Han on YouTube

 
Add a Zero by Rose Han

Chapters

Note: Timestamps will vary on individual listening devices based on dynamic advertising segments. The provided timestamps are approximate and may be several minutes off due to changing ad lengths.

(0:00) Rose Han’s story begins: doing everything right yet still ending up broke

(5:45) The Cancun moment that sparked Rose’s financial awakening

(9:12) Discovering the three types of income and why some buy freedom while others don’t

(13:45) How Rose Han built her “Add a Zero” framework for lasting wealth

(21:30) From employee mindset to entrepreneur mindset

(25:15) The three levels of leverage and how to scale your income

(28:55) Why not every side hustle creates freedom

(31:45) Overcoming the fear of selling

(39:16) How to build a business while working full-time

(47:10) Rose’s real estate lessons and the myth of passive income

(53:55) Knowing when to walk away from an investment

(1:10:15) What financial freedom really means and how to find your own version

Share this episode with a friend, colleagues, and anyone who is interested in entrepreneurship and investing: https://affordanything.com/episode652
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Why High Earners Stay Broke, with Rose Han

#524: Mark and his partner will soon inherit an IRA worth over a quarter million dollars. With today’s elevated interest rates, would throwing it all at a primary residence be the smartest play? 

An anonymous caller and his girlfriend are musicians who dream of building a home with a monetizable recording studio. How do they untangle personal wants from business needs?

Will feels stumped about the options in his defined benefit pension plan. When should he choose a guaranteed annuity over a lump sum payment? 

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/episode524
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Q&A: Don’t Waste Your Inheritance! Here’s How

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