You can afford anything, but not everything. We make daily decisions and create habits around how to spend money, time, energy, focus and attention – and ultimately, our life. Every decision is a trade-off against another choice.But how deeply do we contemplate these choices? Are we settling for the default mode? Or are we ruthlessly optimizing around a deliberate life? Are we creating financial independence, early retirement and debt freedom? Are we managing money wisely?Host Paula Pant interviews a diverse array of entrepreneurs, early retirees, millionaires, investors, artists, adventurers, scientists, psychologists, productivity experts, world travelers and regular people, exploring the tough work of living a truly excellent life. Listen to her interviews with Clark Howard, Gretchen Rubin, Cal Newport, James Clear, Chris Guillebeau and Dave Ramsey daughter Rachel Cruze. Want to learn more? Download our free book, Escape, at http://affordanything.com/escape
Ask Paula: Should I Buy a House or Catch Up on Retirement Savings?
#177: Imagine that your job is extremely well-paying, but you don’t enjoy it. You’d like to switch employers, even though this will probably require a paycut. But before you make the switch, you want to accomplish two goals: buy a home and catch up on retirement savings. Should you pursue both goals? Or should you defer the home purchase, given the potential future paycut? If you decide to pursue both goals, which one should come first? This is one of the five questions that former financial planner Joe Saul-Sehy and I answer in this week’s podcast episode. We also answer a question from a listener who’s self-employed and wants to contribute more to his retirement accounts. We talk to another listener who’s living on $600 monthly paychecks while maxing out his Mega Backdoor Roth contributions. We talk to a 22-year-old with an $80,000 salary who’s debating between paying off her student loans vs. investing. And we answer a question from a listener who’s wondering what she should do with 401k accounts from previous employers. For more information, visit the show notes at https://affordanything.com/episode177
Digital Minimalism - with Dr. Cal Newport
#176: Cal Newport created a philosophy called digital minimalism, which is idea of reducing your digital life down to only the most important core essentials. Remove the apps from your phone, then slowly re-introduce only the ones that are the most useful and beneficial. Take control of your smartphone, rather than letting it control you. Digital minimalism is a philosophy of technology use. This philosophy pulls from the concepts of minimalism, essentialism, the slow movement, and the 80/20 principle, applying these ideas towards your digital life. Cal discusses the digital minimalist philosophy on today’s episode. For more information, visit the show notes at https://affordanything.com/episode176
Three Percent is the New Four Percent - with Larry Swedroe, Retirement Planning Expert
#175:Larry Swedroe is one of the most respected investment thinkers and writers of our time. He's published 8 books on investing, including one of the first books to explain the science of investing to a layperson audience. He recently wrote an ultra-comprehensive guide to retirement planning. He joins us on the show today to discuss the nuances of investing and retirement planning. We talk about the stock market (is it going to fall soon? Are we heading for a recession?), we talk about risk (including three dimensions of risk that all investors should consider), and we talk about what traditional retirees vs. early retirees should know. For more information, visit the show notes at https://affordanything.com/episode175
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