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Ask Paula: Should I Raid My Retirement Savings to Pay for School?

Ask Paula: Should I Raid My Retirement Savings to Pay for School?

FromAfford Anything


Ask Paula: Should I Raid My Retirement Savings to Pay for School?

FromAfford Anything

ratings:
Length:
81 minutes
Released:
Feb 10, 2020
Format:
Podcast episode

Description

#241: Anton wants to accelerate his flight training so he can get hired within two to three months, rather than two to three years. He has to raid his retirement savings to achieve this. Should he? Linda and her husband have their eyes on early retirement, but they aren’t sure what their post-retirement lifestyle will cost. How can they budget for unknown expenses that include travel? Joseph contributes 15 percent of his income to both a Roth 457b and Roth IRA. He wants to retire before age 59.5. Given his early retirement goal, should he focus solely on his Roth 457b? Henry wants to know how rebalancing and dollar cost averaging interact with each other. Should he rebalance his all-equities portfolio? If so, what approach should he take? Joe maxes out his 401k and IRA each year. He can make after-tax 401k contributions, or fund his Vanguard taxable brokerage account. Which should he prioritize? As usual, my friend and former financial advisor, Joe Saul-Sehy, joins me on the show to answer these five listener questions. Enjoy! For more information, visit the show notes at https://affordanything.com/episode241
Released:
Feb 10, 2020
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