#573: An anonymous caller has always put her large purchases on zero percent APR credit cards, but something’s been nagging at her. Is she walking on thin ice with this strategy?

Von is confused why he keeps hearing that Roth accounts are better than traditional if they both lead to the same mathematical result. What’s he missing? 

Molly and her husband are well on their way to financial independence, but they feel unfulfilled with their careers. Can they afford to plunge into student debt with a 50 percent pay cut?

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/episode573

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#572: At age 7, Dr. Jordan Grumet lost his father. This early loss shaped his career path — he became a physician, following in his dad's footsteps. But by 2010, feeling burned out from internal medicine, he took an unexpected turn: he became a hospice doctor.

In this episode, Dr. Grumet joins us to discuss what he's learned from thousands of conversations with people in their final days. 

These discussions have revealed a pattern: people don't typically regret their bank balance on their deathbed. Instead, they regret not pursuing the activities and dreams that truly lit them up.

Dr. Grumet explains the difference between what he calls "Big P Purpose" versus "little p purpose." Big P Purpose involves major life goals like becoming president or curing cancer. Little p purpose, by contrast, focuses on the process — finding activities you enjoy regardless of the outcome. 

He shares the story of a young professional who loved competitive cycling. While working a demanding nonprofit job, this person started fixing bikes at races on weekends. This side project combined his skills and passion, eventually creating enough income for him to reduce his full-time hours.

Dr. Grumet introduces three key concepts for building more purpose into your life:

- Joy of Addition: Add activities that excite you, even if just for 15 minutes daily

- Art of Subtraction: Remove activities that drain you

- Substitution: When you can't add or subtract, swap one activity for another

He emphasizes that money isn't the only tool for creating change. Youth, energy, relationships, skills and community can be equally valuable resources. A 22-year-old might lack funds but has the advantage of time and stamina that a 51-year-old doesn't possess.

Dr. Grumet references the Harvard Adult Developmental Health Study, which found that strong relationships — not achievements or money — most strongly correlate with happiness. He suggests that pursuing activities you enjoy naturally leads to building these vital connections.

The episode closes with a powerful story about his grandfather, who loved math and became an accountant in the 1950s. 

This passion influenced Dr. Grumet's mother to become a CPA, which in turn helped young Jordan develop confidence in math, despite his reading challenges. Years later, this mathematical thinking helped him diagnose a rabbi's rare condition — proving how small actions can create ripple effects across generations.

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 to Dr. Grumet, hospice doctor discussing end-of-life insights

1:06 Transition from medicine to hospice as side hustle

2:21 Hospice shifts from medical to emotional care

4:12 Palliative care vs hospice care explained

5:05 Age range of hospice patients

6:55 Life priorities and deathbed regrets

13:46 Harvard Adult Developmental Health Study on happiness

20:00 Purpose, happiness and flow states

26:35 Joy of Addition and Art of Subtraction explained

33:30 Using youth when lacking money

41:18 Calendar evaluation strategies

48:45 Managing family disappointment

56:08 Regrets as purpose anchors

1:03:26 Common end-of-life regrets

1:09:06 Small actions, big legacy

For more information, visit the show notes at https://affordanything.com/episode572

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#571: An anonymous caller’s crypto investments have recently skyrocketed to 17 percent of her investment portfolio. Given the volatility of this asset, should she rebalance it or go all in? 

Jocelyn wants to buy a house in three years but she’s reluctant to keep her sizable down payment in cash. What if she splits the difference and invests half the money instead?

Allison feels antsy holding $1 million in cash with falling interest rates on the horizon. How does she optimize this money while keeping it liquid enough to buy a house on an uncertain timeline? 

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/episode571

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Grab your free copy of the 52-week guide to micro-improvements at https://affordanything.com/financialgoals

_______

In 2012, the British cycling team pulled off what seemed impossible. After 76 years of losses, they won the Tour de France, took second place, and grabbed 8 Olympic gold medals. Their secret? Tiny improvements that added up to massive change.

That's the philosophy behind "One Tweak a Week," a year-long financial roadmap broken into 52 small, manageable steps. Each tweak takes less than an hour — many just minutes — but compound into significant financial progress over time.

The plan breaks down into four quarters. Quarter 1 lays the groundwork with foundational habits like writing a financial motivation statement, calculating net worth, and choosing key metrics to track. It's about getting clear on where you stand and where you're headed.

Quarter 2 shifts focus to optimizing your money. You'll track prices, adjust thermostat settings to cut energy costs, create a "fun fund" for guilt-free spending, and develop strategies for charitable giving. This quarter also tackles professional development and emergency medical expense planning.

In Quarter 3, the focus turns to systematic improvements — maintaining proper tire pressure to save on fuel, capturing work-from-home savings, planning for seasonal expenses, and building a buffer for unexpected price increases.

Quarter 4 wraps up with fine-tuning your system. You'll evaluate housing options, manage variable food costs, set micro-saving challenges, and create strategies for handling market uncertainty.

The approach mirrors what British cycling performance director Dave Brailsford calls "the 1 percent margin for improvement." He transformed the team by focusing on tiny details — everything from athlete hand-washing techniques to bringing specific mattresses to hotels for better sleep. Even painting the maintenance floor white to better spot problematic dust on bike gears.

Like Brailsford's approach, these financial tweaks might seem small on their own. But together, they create a comprehensive system for building lasting wealth. 

The guide is available at affordanything.com/financialgoals.

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#569: Let’s take a look back on the biggest financial and economic stories of 2024 - and a look ahead to 2025!

References and Resources:

For more information, visit the show notes at https://affordanything.com/episode569

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Marie Curie won the Nobel Prize in Physics in 1903 and the Nobel Prize in Chemistry in 1911. She’s famous for her work in radioactivity. Lin-Manual Miranda is a songwriter, producer and director who won the Pulitzer Prize in Drama in 2016, as well as several Tony awards.

What do they have in common?

They lived a century apart. They innovated in disparate fields. But they shared a similar productivity practice.

Both achieved greatness by embracing the practice of slow productivity, says Georgetown computer science professor Cal Newport.

Slow productivity is a three-part practice, Newport explains: (1) do fewer things; (2) work at a natural pace; (3) obsess over quality.

We’re used to thinking of productivity as doing more in a short amount of time. This flips that idea on its head, focusing on doing less, but excelling.

Slow productivity is the practice of doing fewer tasks better.

In this episode, Newport explains how the practice of slow productivity diverges from the normal ways that people in modern society tend to work.

Life can be stressful. Your to-do list might feel never-ending. This episode can help you focus on the few things that matter most.

It can help you feel less stressed, less busy, and yet — paradoxically — more productive, at the same time.

We're sharing this as part of GREATEST HITS WEEK, a 5-day series in which we're sharing 5 episodes, across 5 days, that originally aired at the start of 2024 (January through March). You may have missed it then; enjoy it now.

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Do you ever wonder what happens behind closed doors on Wall Street? Vivian Tu, also known as Your Rich BFF, is here to spill the tea.

Vivian grew up in a modest immigrant family. After college, she found herself working insane hours on Wall Street after college.

While working on Wall Street, Vivian saw some weird things.

Once, a coworker stumbled hungover into the office after a trip to Atlantic City, carrying a duffel bag with thousands of dollars in cash inside.

Vivian realized that there’s a group of high-income and high-net-worth people who handle money in drastically different ways than she learned in her frugal upbringing.

She learned about investing, taxes, legal loopholes. She discovered new ways of thinking about money.

She shares these insights — gleaned from her Wall Street days — in today’s podcast episode.

We're sharing this as part of GREATEST HITS WEEK, a 5-day series in which we're sharing 5 episodes, across 5 days, that originally aired at the start of 2024 (January through March). You may have missed it then; enjoy it now.

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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!

We're sharing this as part of GREATEST HITS WEEK, a 5-day series in which we're sharing 5 episodes, across 5 days, that originally aired at the start of 2024 (January through March). You may have missed it then; enjoy it now.

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Great communication will get you a raise. It’ll get you promoted. You’ll land the corner office.

You’ll make friends and be the life of the party.

You’ll land business deals and form lucrative partnerships.

Supercommunication is a superpower.

But how do we build it?

Sometimes, you might walk away from a conversation with the joy of having made a cool new friend.

Or you snagged a critical piece of information that you realllllly needed. Or you successfully negotiated an extra $5,000 off your car.

On the flip side, sometimes you’ll walk away from a conversation, scratching your head and wondering … “What just happened?”

If either of these situations have happened to you, Charles Duhigg will help you understand WHY.

Duhigg is a Pultizer Prize winning reporter. He holds an undergrad degree from Yale and an MBA from Harvard. He wrote for the LA Times and New York Times, before landing at The New Yorker.

His first two books, The Power of Habit and Smarter, Faster, Better, have sold more than 5 million copies. Recently, he came out with a new book called Supercommunicators.

He chats with us today to discuss the power of communication.

Duhigg shares why communication is a critical component to happiness and success in every part of life. He discusses the different styles of conversations that people can have, which lead to either connection or disconnection. He also shares critical tips to help us all become supercommunicators and live richer lives.

Enjoy!

Resources Mentioned:

Supercommunicators: How to Unlock the Secret Language of Connection, by Charles Duhigg | Book

The Power of Habit, by Charles Duhigg | Book

Smarter Faster Better, by Charles Duhigg | Book

We're sharing this as part of GREATEST HITS WEEK, a 5-day series in which we're sharing 5 episodes, across 5 days, that originally aired at the start of 2024 (January through March). You may have missed it then; enjoy it now.

Learn more about your ad choices. Visit podcastchoices.com/adchoices

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. He joins us to discuss the ideas in his book, "Same As Ever".

We're sharing this as part of GREATEST HITS WEEK, a 5-day series in which we're sharing 5 episodes, across 5 days, that originally aired at the start of 2024 (January through March). You may have missed it then; enjoy it now.

Learn more about your ad choices. Visit podcastchoices.com/adchoices