What’s the Point of Happiness, Anyway?, with Dr. Bill Von Hippel
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371: Psychology professor Bill von Hippel explains the evolutionary science behind how we’re hardwired as humans. We’re wired to be social, to connect, to communicate and cooperate. We’re wired to want to learn and teach, to build a collective body of knowledge that stretches beyond what any single individual could ever learn in their lifetime. We’re wired to feel surges of happiness that fade, so that we’re intrinsically motivated to keep repeating behaviors that lead to additional surges of happiness. Once we understand the evolutionary science behind what makes us happy, Dr. von...
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Ask Paula: My Income Is Dropping From $190,000 to $40,000; What Should I Do?
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370: Kristen is 32, and she and her husband want to retire in less than 20 years. They make too much to contribute to a Roth IRA. Should they use back door Roth conversions to speed along their path to early retirement? Michelle makes $190,000 and is going to switch to a career that pays $40,000 on average. To prepare for this lower salary, she's selling her current home and buying a different one. Should she pay off her new home with the proceeds from the old one? Or should she invest her profits? Anonymous lives in a high cost-of-living area and is wondering where to keep her down payment...
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Why Does the Stock Market Crash? | Stocks 101 Explained, with Brian Feroldi
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#369: To answer these questions, we need a deep, tree-trunk understanding – a core, fundamental understanding – of how the stock market operates. What, exactly, IS a stock – and how are stocks valued? What’s the difference between the Dow Jones, the S&P 500, and the Nasdaq? Why is the market a voting machine in the short-term, but a weighing machine in the long-term? Brian Feroldi, the author of “Why Does the Stock Market Go Up?,” joins us for a Stocks 101 explainer episode. If you’d like a deeper understanding of the world of stocks, you’ll enjoy this explainer episode....
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Ask Paula: Talk Crypto To Me
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#368: Grace wants to buy a manufactured home for rental income. Should she calculate her returns differently for a manufactured home? Alex is curious about cryptocurrency. How should she analyze the returns promised by different platforms and where can she go to learn more about crypto in general? Thomas and his wife have parallel goals of saving for a down payment and contributing to retirement accounts. How should they balance both of these goals? In today's episode, former financial planner Joe Saul-Sehy and I tackle these tough questions. Do you have a question on business, money,...
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The Roots of Procrastination, Inattention and Anxiety, with Dr. Ellen Vora, M.D.
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367: Since the start of the Covid-19 pandemic, many commentators have remarked that we’re living in an “epidemic of anxiety.” More than 40 million Americans suffer from anxiety, and countless millions more notice themselves “acting out” against their responsibilities in smaller, self-sabotaging ways: procrastinating, lacking motivation, grappling with an inability to concentrate. In today’s episode, Dr. Ellen Vora, M.D., discusses both the internal and environmental factors that can exacerbate anxiety. She talks about nutrition and sleep, as well as the fact that, frankly, your job...
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Ask Paula: How Do I Invest For My Parents' Retirement?
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#366: Micheal’s parents just sold their home to pay off debt and fund their retirement. How should he invest the profits? Ryker would like to understand what it would take for cryptocurrency to be considered as a good investment option for a diversified portfolio. Megan has qualified for her employer's 401k and needs help deciding between investing in a Roth 401K and a Roth IRA. In today's episode, former financial planner Joe Saul-Sehy and I tackle these tough questions. Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it ...
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Inflation, Explained
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365: Nearly every financial news story for the past several months has centered around inflation – but what, exactly, is inflation? What are its causes? What are its effects? How is it measured? What notable inflationary events have unfolded throughout history, and what can we learn from these? In this episode, we peel back the layers of the onion in order to deepen our understanding of the concept of inflation. We discuss hyperinflation, biflation, stagflation; we discuss the CPI, the PPI, and core inflation. We discuss the demand-pull inflation, cost-push inflation and the wage-price...
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Ask Paula: No Spouse, No Family - How Do I Financially Prepare For Care Later In Life?
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364: Our first caller is curious about whether he should keep his 30 year term life insurance policy or let it lapse with 12 years left on the policy? Anonymous is wondering which financial products would work best for to cover her older age care and expenses? Max is thinking through real estate and stock market returns as they relate to future population trends. Ramon asks us about the details behind infinite banking. Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it at https://affordanything.com/voicemail and we’ll...
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Two Types of Intelligence, with Harvard Professor Arthur Brooks
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#363: In our 20’s and 30’s, we have high levels of fluid intelligence, or raw intellectual horsepower. We can ace tests, impress people with our memory and recall, and analyze facts, documents and data. But in our 40’s and 50’s, we have higher levels of crystallized intelligence, which allows us to draw together novel insights from across domains. Fluid intelligence allows us to analyze, or break apart. Crystallized intelligence allows us to synthesize, or put together. Each type of intelligence invites us to express different skills, to pivot our role at work – or perhaps even to...
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Ask Paula: Okay Seriously, Why Hasn’t Anyone Solved the Budgeting Issue?
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#362: David is questioning how to better manage his spending. He’d like a stronger framework to think through budgeting challenges. Elisa and her husband bought a home, and now they’re saving extra income every month. She has a pension and her husband is an entrepreneur. How much should they be saving for retirement and how should they invest their extra money? Geoff invested primarily in taxable brokerage accounts for the last twenty years. He’s built a $6 million portfolio and reached financial independence. He wonders about the smartest strategy for withdrawing from those taxable...
info_outline#343: The real estate market in 2021 has been bonkers.
That’s the technical term.
From 2012 to 2020, home prices nationwide rose at an annualized average of 5.8 percent per year.
From April 2020 to April 2021, home prices climbed 17.2 percent.
This sudden surge in prices has many homeowners and would-be investors fearful of a crash. The memories of the stark price run-up prior to The Great Recession are all too salient.
What goes up must come down, right?
Not exactly. In this episode, we walk through market fundamentals — discussing housing supply, lumber prices, and the distinction between cheap credit vs easy credit — to illustrate how today’s market is unlike anything we’ve ever seen.
More importantly, we offer tips for everyone —whether you’re a renter looking to get into your starter home, an empty-nester looking to downsize, an owner-occupant who wants to lock in your gains, or a curious aspiring investor who wonders if it’s too late.
Enjoy!
For more information, visit the show notes at https://affordanything.com/episode343