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Ask Paula: Should I Take a Higher-Paying Job if I Can’t Save As Much for Retirement?

Ask Paula: Should I Take a Higher-Paying Job if I Can’t Save As Much for Retirement?

FromAfford Anything


Ask Paula: Should I Take a Higher-Paying Job if I Can’t Save As Much for Retirement?

FromAfford Anything

ratings:
Length:
75 minutes
Released:
May 5, 2022
Format:
Podcast episode

Description

#378: Anonymous is 25. She has a job offer that comes with a substantial raise. Hooray!
Buuut … there’s a problem. If she accepts this job offer, her new employer won’t allow her to contribute as much money to her company retirement accounts. 
How should she think about the trade-off between increasing income and funding her retirement?
Meanwhile, Dan from California is retiring soon and wants to know what he and his wife should do with the loan they took out against their 401(k).
Finally, an anonymous caller who goes by “Daughter” has a whole life policy that only costs her less than $50 per month. Since her policy is so cheap, should she keep it?
In today's episode, former financial planner Joe Saul-Sehy and I tackle these tough situations.
Enjoy!

Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.
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Released:
May 5, 2022
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