#623: An anonymous caller feels trapped in a no-win situation with her financially reckless mother. She has the means to bail her out, but it doesn’t feel right. What should she do? 

Shannon is excited about investing in several companies overseas. But she can only access them using American Depository Receipts. What are they, and how do they work? 

Jennifer calls back with an update on putting a vacation on a credit card and playing the rewards game.

Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.

Enjoy!

P.S. Got a question? Leave it here.

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#622: #622: The headlines said America added 147,000 jobs in June. The reality? Private companies actually cut 33,000 positions.

Grad students just lost access to unlimited borrowing. Parent PLUS loans now cap at $65,000. And tariffs are about to jump as high as 70 percent.

Everything is changing at once — taxes, tariffs, student loans, and immigration policy. And data from the University of Michigan says that consumers feel more pessimistic than they did six months ago.

Welcome to the 4th of July First Friday episode. On America's 249th birthday, we unpack these economic stories.

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) Introduction

(1:19) Historical trivia about the Declaration of Independence

(2:28) Three presidents died on July 4th — statistical improbability explained

(4:24) Trump signs domestic policy bill extending 2017 tax cuts

(6:13) Student loan changes — borrowing caps and repayment plan eliminations

(8:53) Tariff pause expires July 9th, new rates announced

(12:00) Original tariff rates and Lesotho example breakdown

(16:26) June jobs report headlines versus private sector reality

(22:54) ADP reports private job losses while government hiring grows

(26:46) Consumer confidence drops 18 percent since December

(30:59) Inflation expectations versus actual 2.4 percent rate

(34:19) Fed takes wait-and-see approach amid policy uncertainty

(36:58) Labor market stagnation mirrors Federal Reserve strategy

For more information, visit the show notes at https://affordanything.com/episode622

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#621: Jared is attracted to the favorable terms of the annuity plan that his employer offers, but he’s hesitant to pay the opportunity cost of locking up his money now. What should he do?

An anonymous caller is struggling to find the efficient frontier with only three funds to choose from in his Thrift Savings Plan. Is there any hope for him?

Jack feels great about the funds in his portfolio, but he’s losing sleep over how to apportion them between his taxable, pre-tax and Roth accounts. What’s the best tax strategy for him?

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

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#620: You probably think your value to your employer equals your paycheck. Katie Gatti Tassin has news for you — you're worth way more than that.

The host of "Money with Katie" recently joined us to break down a framework that could change how you negotiate forever. Her formula is simple: Your worth equals your market rate plus what it costs to replace you, raised to the power of your unique skills.

Most people focus only on market rate — what similar jobs pay in your area. You can find this through salary transparency laws, LinkedIn data, or job postings. But that's just the starting point.

The real eye-opener? Replacement costs. When you leave, companies face recruiting fees, interview time, onboarding expenses, and lost productivity. For mid-level roles, recruiters charge 15 to 25 percent of your first-year salary. Senior positions cost even more — headhunters for executive roles charge 25 to 35 percent of total compensation.

A company replacing an $80,000 employee might pay $20,000 just in recruiter fees. For a $200,000 executive, that jumps to $70,000. Add training time and the productivity gap while they search, and replacement costs can hit 50 to 200 percent of annual salary.

Then there's your "special sauce" — the unique value you bring. Maybe you have deep client relationships, specialized skills, or institutional knowledge that would take months for a replacement to develop.

Katie learned this framework through her own career pivots. She started as an ad copywriter but shifted into user experience writing after working closely with a UX designer who told her the pay was much better. That internal pivot positioned her for an external move that doubled her compensation from $70,000 to $140,000.

Katie had to catch a flight — she visited our New York studios during her book launch tour — but the conversation covers practical tactics for earning more and building wealth.

For more information, visit the show notes at https://affordanything.com/episode620

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#619: Dave is no longer happy with his financial advisor, but he’s nervous about switching over to self-management after being completely hands-off for so long. What should he do?

An anonymous caller keeps hearing about the benefits of Cost Segregation for investment property. What is it? And should he apply this strategy to his recently acquired duplex?

Another anonymous caller is eagerly anticipating a windfall from his employer’s upcoming IPO. How should he prepare for this, and what happens if it fails?

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/episode619

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#618: Frank Vasquez watched his parents, ages 91 and 96, struggle financially in retirement.

They were immigrants. His dad was a physician. They raised five kids. They retired in the early 1990’s. But by 2009, they ran out of money.

When Frank was 45, in 2009, his parents would call asking for money to help make ends meet.

This reality hit Frank hard and sparked a decade-long quest to crack the code on sustainable retirement withdrawals.

At age 45, Frank set an ambitious goal: retire in his early 50’s while still supporting his parents financially.

The problem? Most financial experts simply told people to spend less rather than optimize their portfolios for higher withdrawal rates. Frank wasn't satisfied with that answer.

You'll hear how Frank discovered that many retirees leave money on the table by holding too much cash or following overly conservative allocation models.

Through extensive research, he found a sweet spot for stock allocation that maximizes safe withdrawal rates — something most traditional advisors miss entirely.

Frank walks us through his approach to portfolio construction, explaining why he believes in balancing growth and value stocks while keeping bonds limited to US treasuries for recession protection.

He breaks down the math behind safe withdrawal rates and reveals why property taxes pose a hidden threat to retirement security as home values climb.

You'll learn about risk parity strategies, macro allocation principles, and why diversification across uncorrelated assets creates more stability than traditional 60/40 portfolios.

The conversation covers Frank's Golden Ratio Portfolio, a structured approach to asset allocation designed specifically for the retirement drawdown phase.

Frank figured out how to fix what went wrong with his parents' retirement. His approach could help you avoid the same mistakes.

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.

(00:00) Introduction

(01:04) Frank's parents' financial struggles

(05:21) Finding a sustainable retirement portfolio

(10:19) Learning from market crashes

(13:25) Different types of investments

(25:10) Building the perfect portfolio

(32:25) Frank's real-world example

(39:24) Property taxes and retirement goals

(44:21) Safe withdrawal rate basics

(45:22) How much to put in stocks

(51:03) Why bonds matter

(54:23) Adding alternative investments

(1:00:14) The Golden Ratio Portfolio

(1:12:11) Investment strategies for retirement

(1:15:44) Taking money out of your portfolio

(1:18:31) Taxes on withdrawals

(1:21:14) Where to put your investments

(1:23:35) Keeping it simple

(1:26:07) How much cash to hold

(1:28:20) Market timing risks

(1:34:38) Giving back in retirement

For more information, visit the show notes at https://affordanything.com/episode618

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#617: Austin and his wife are worried about moving to a single-income household while supporting two kids. Should they free up cash flow by paying off a car loan, or tighten up and stay the course?

Paul has been retired for seven years, but still can’t shake his anxiety about not having enough. Is there a good way to know when he’s finally escaped the dreaded sequence of returns risk?

Jonathan wants to build up his taxable brokerage account, but he’s having trouble letting go of the tax benefits of a Roth IRA. How does he get past his psychological hurdles?

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

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#616: Two school teachers in Ohio saved their entire lives for one dream — buying a farm. 

When they inherited $1.3 million and found the perfect property for $1.2 million, everything seemed perfect. 

Five days before closing, they received what looked like a legitimate email from their closing company with wire transfer instructions. They sent the money and showed up at closing, only to discover they'd been scammed. 

The email was fake, sent by hackers who had infiltrated the closing company's servers for months, waiting for exactly this type of high-value cash deal.

That story comes from cybersecurity expert Dr. Eric Cole, who joins us to explain why ordinary people have become prime targets for cybercriminals. 

Cole, a former CIA hacker who served as cybersecurity commissioner under President Barack Obama and advises high-profile clients including Bill Gates' personal estate, has a message: if you think you're too small to be targeted, you're wrong.

While billion-dollar companies deploy teams of 60 cybersecurity professionals, you have virtually no protection. 

Criminals know this. They're not trying to steal $100 million from one person anymore — they're stealing $50 from thousands of people every month. 

You probably won't notice the small amounts vanishing from your accounts. Cole calls it "death by a thousand cuts," and it's happening right now.

We talk through the most common attacks targeting your money. Bank hacking is simpler than most people realize. All criminals need is your account number — printed on every check you write — and your password. With that information, they can often perform electronic fund transfers of up to 50 percent of your account balance without triggering alerts.

We also cover the China-TikTok connection, secure messaging options, and why Cole helped configure President Obama's smartphone to connect to fake cell towers that masked his actual location.

Cole's bottom line: cybersecurity isn't just for tech companies anymore. Criminals are targeting ordinary people because we're easier prey than heavily protected corporations. Your money is under threat. Here's how to protect it. 

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) Introduction

(1:17) Why ordinary people are cybercrime targets

(2:29) The "death by a thousand cuts" 

(4:05) How criminals destroy your credit with fake accounts

(5:19) Cryptocurrency wallet attacks and empty life savings

(6:08) Elder scams and the devastating impact on families

(8:24) Different types of cyber attacks explained

(8:44) Bank hacking 

(14:25) Phishing scams using fake toll messages

(18:53) Ransomware as a legitimate Russian business

(23:44) How scams and cybersecurity overlap

(35:31) Paula's phone security audit 

(49:54) Smartphone security for high-profile individuals

(54:55) TikTok's data collection and Chinese government access

(59:44) Real estate scams targeting cash buyers

(1:12:18) Essential security rules 

(1:27:05) What to keep in a fireproof safe

https://affordanything.com/episode616

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#615: Emily is nervous that buying their first home will derail her family’s journey to financial independence. What’s the smartest way to deploy their savings and stay on track?

Based on cap rate calculations, Paul’s real estate investments have appreciated beyond their sensible holding point. Should he sell his assets, or is there more to consider here?

Mike is recently retired while his wife still works. With a paid-off home and healthcare already taken care of, what are best practices for drawing down an investment portfolio?  

Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.

Enjoy!

P.S. Got a question? Leave it here.

For more information, visit the show notes at https://affordanything.com/episode615https://affordanything.com/episode615

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#614: The US just added 139,000 new jobs in May. That beat expectations. But the real story isn't in the job numbers — it’s in the bond market.

Something unusual is happening in bonds. Treasury yields are spiking. The dollar is weakening. That combination almost never happens together. And it's signaling concerns about future inflation.

Trade wars continue on. A federal court just struck down some tariffs. The administration will appeal. Meanwhile, the EU has until July 9 to cut a deal. If they don't, 50 percent tariffs kick in. As a result, many companies are playing defense instead of growing.

The debt situation keeps getting worse. We owe $36.2 trillion. That's more than we owed at the end of World War II as a percentage of our economy. Moody's just downgraded our credit rating. We're not alone — Britain's bonds just hit their highest levels since 1998.

The accredited investor rules could finally change. Right now you need an income of $200,000 ($300,000 as a couple) or $1 million in net worth to access private markets. Those numbers haven't changed since they were written in 1982, even though adjusted for inflation, that $200,000 would be $662,000 today. 

The SEC might start loosening enforcement of the accredited investor rules. That could open up more investments to people who've been locked out for decades.

Crypto is finding its footing. The SEC dropped cases against Coinbase. They're backing away from treating most crypto like securities. Bitcoin sits near all-time highs. The US keeps building its strategic Bitcoin reserve.

The House just passed what's being called the "One Big Beautiful Bill." It extends 2017 tax cuts. Eliminates taxes on tips and overtime. The Congressional Budget Office says it'll add $2.4 trillion to the deficit over 10 years. That's sparked debate between deficit hawks and growth advocates —  including one particularly high-profile debate that has been plastered across the headlines.

Consumer sentiment stays stuck at 2022 lows. People expect 6.6 percent inflation. The actual rate is 2.3 percent. That gap between what the data says and what people feel shows up everywhere.

We cover all of this in today’s First Friday economic update. 

For more information, visit the show notes at https://affordanything.com/episode614

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