#266: Paul’s parents own a property worth $100,000, and they owe $80,000 on the mortgage. If he wants to buy this property from them, how should he do it?

Max is torn between investing in a rental property or taking advantage of a mega backdoor Roth 401k through his company. Which is the better option?

Ali is a travel nurse and wants to get into real estate investing. Should she buy a duplex that needs fixing up or a cheaper apartment that’s rent-ready?

Kate and her husband own a townhome that has appreciated substantially, but they need a bigger house. They’re wondering: is it wise to keep it, rent it out, and use a cash-out refinance as a downpayment on their next property?

I answer these questions on today's episode. Enjoy!

For more information, visit the show notes at http://affordanything.com/episode266

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Welcome back to PSA Thursday, a mostly-weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic.

This week, our focus is on answering a question that many landlords in our community have asked in recent months: what do we do when our tenants can't pay the rent, and our bills are due? 

To answer this, we asked Alieza Durana, a journalist who works with the Eviction Lab at Princeton University, for her expertise. 

The Princeton Eviction Lab is a group that rigorously researches the causes and consequences of the affordable housing crisis, housing instability, and the impact of evictions. Alieza shares data gathered from The Eviction Lab and offers tips for landlords who want to be part of the solution, but struggle with the reality of having their own bills to pay.

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

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#265: Are you the same person you were five years ago? Ten years ago? Fifteen years ago?

Of course not. Things in your life have changed: your interests, hobbies, decision-making process, and habits are different than they were a decade ago.

Likewise, our personality changes -- and this means we can decide who we want to become.

Today’s guest, organizational psychologist Dr. Benjamin Hardy, literally wrote the book on personality impermanence. During this episode, he shares research on why our personalities aren’t as fixed as we think they are and the strategies we can use to change.

Dr. Hardy is the bestselling author of Willpower Doesn’t Work and Personality Isn’t Permanent. He’s a contributor to Inc. and Psychology Today. From 2015-2018, he was the number one writer on Medium.com.

If you want to rise to the level of your goals, rather than fall to the patterns of your past, this episode is for you.

For more information, visit the show notes at https://affordanything.com/episode265

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Welcome back to PSA Thursday, a mostly-weekly segment in which we talk about how to handle money, work, and life in the middle of a pandemic.

This week, we focus on life and staying safe when venturing outside of your home.

Many of us are concerned with reducing the risk of coronavirus infection in places like grocery stores, gas stations, or backyard BBQs, but the guidelines on how to stay safe aren't always clear.

In this episode, we discuss specific precautions to take...

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

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#264: An anonymous listener, whom we call “Mary,” is curious about the auto-rebalancing feature offered by M1 Finance. Is it too good to be true?

J isn’t happy with the target date retirement fund she chose for her 401k. She has limited options and is wondering: should she move funds around? If so, is now a bad time, considering the market volatility?

Another anonymous listener is wondering how to choose the right mix of investments for a retirement portfolio. She also wants tips on rebalancing a portfolio. And when should she execute a Roth conversion?

Tami has $160,000 in a G fund in her TSP. Should she move this money to a Lifestyle fund to increase her earnings?

Andy and his wife contribute the maximum to their children’s 529 accounts, and they have three investment options to choose from. Should they continue with an aggressive managed portfolio, or choose something less risky?

My friend and former financial planner Joe Saul-Sehy and I answer these questions on today’s episode. Enjoy!

For more information, visit the show notes at https://affordanything.com/episode264

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Here's the sordid history of the Payroll Protection Program, plus four additional options for getting pandemic relief as an entrepreneur.

In this episode we share the following resources for small businesses:

Economic Injury Disaster Loans (EIDL)
Employee Retention Credit.
SBA 7(a) Program
Mainstream Lending Program

For more information, visit the show notes at https://affordanything.com/psa-thursday

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#263: It’s been a tough year, and we’re only halfway through it.

Today’s guest has insights and actions to help you build financial resilience in 2020. Not only will you emerge from the events of this year stronger, you’ll also face future personal challenges and economic downturns with more confidence and knowledge.

Our guest is Dr. Brad Klontz, a clinical psychologist and Certified Financial Planner. He’s the author of five books on the psychology of money, a founder of the Financial Psychology Institute, a managing principal of Your Mental Wealth Advisors, and a fellow of the American Psychological Association. He’s also a former associate professor of personal financial planning at Kansas State.

Dr. Klontz appeared on our show in April 2018 to discuss unhealthy attitudes towards money. We invited him back for his expertise on coping with recent situations and developing financial resilience

For more information, visit the show notes at https://affordanything.com/episode263

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#262: Tyson is taking a year off of work and plans to devote some of his time to domestic travel, volunteer work, and bolstering his rental property portfolio. He originally planned to travel internationally, but won’t due to the pandemic. How does this plan sound?

Jace is wondering whether she should take advantage of the low stock market prices or keep a larger emergency fund due to the pandemic. Which is the better option, given her goal of financial independence?

Jace also wants to know: where do you park your money after maxing out a 401k and Roth IRA?

Venkat had to relocate after living in a condo for one year. He rents out the condo, but he’s in the red. Should he sell this condo? If so, when?

TW has $250,000 in cash that he can use to either pay off his rental property or purchase two more properties. Which is the better option?

For more information, visit the show notes at https://affordanything.com/episode262

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For more information, go to https://affordanything.com/tag/psa-thursday

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#261: I quit my job at the beginning of a recession and made it work. Two years ago, I did an interview with Lessons From a Quitter explaining how.

Given that so many community members want to leave their jobs for something better in the future, whether it's freelancing, self-employment, or early retirement, I'm re-airing the interview.

I hope my story sheds light on what's possible in the most inopportune times.

For more information, visit the show notes at https://affordanything.com/episode261

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