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Ask Paula: I Make $168,000 Per Year and Spend $5,000 Per Year. What’s Next?

Ask Paula: I Make $168,000 Per Year and Spend $5,000 Per Year. What’s Next?

FromAfford Anything


Ask Paula: I Make $168,000 Per Year and Spend $5,000 Per Year. What’s Next?

FromAfford Anything

ratings:
Length:
80 minutes
Released:
May 27, 2019
Format:
Podcast episode

Description

#195: Alex makes $168,000 per year, combined between her full-time job and her side hustle. Her company pays for breakfast, lunch and dinner during the work week, plus a cell phone subsidy, health, dental and vision insurance, a gym membership, and commuting costs. She also househacks, so her living expenses are only $400 per month. What should she do with her ample savings? Christine is 38 and earns $70,000 per year running her own business. She holds $70,000 in investment accounts, has another $16,000 in savings, bought a condo with 20 percent down, and has no debt. What can she do to fast-track her path to financial independence? Amy is unsure whether she should pay off her mortgage, downsize to a smaller home, or invest. Katherine is 23 and househacking into a duplex. How much should she set aside for cash reserves? Miriam started a podcast and wants to know how to morph a passion into a lucrative income stream. Nick wonders if the FIRE movement should plan an annual gathering … you know, like a FIRE Festival. (But not like the Fyre Festival.) I tackle these six questions in today’s episode. For more information, visit the show notes at https://affordanything.com/episode195 
Released:
May 27, 2019
Format:
Podcast episode

Titles in the series (100)

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