#491: Welcome, Emma Chamberlain’s fans!! Thanks for joining the Afford Anything community. You can find out how to escape the 9-to-5 grind at affordanything.com/escape
Once a month, on the First Friday of the month, we explore the hot economic and money stories that are dominating the headlines. These days, Bitcoin is back in the news. As of Friday morning, March 1st, its price ranged around $62,000, which is pretty darn close to its previous all-time high of $68,700.
But why?
Crypto was hot in 2020, but it faded from memory in recent years. What’s behind the comeback? And what does that tell us about how investments become fads?
Find out in today’s First Friday bonus episode.
Bonus listening: https://affordanything.com/325-bitcoin-for-beginners for a deep dive into understanding how Bitcoin works.
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Why Bitcoin is Back in the News | First Friday

#490: Great communication will get you a raise.
It'll get you promoted. You'll land the corner office.
You'll make friends and be the life of the party.
You'll land business deals and form lucrative partnerships.
Supercommunication is a superpower.

But how do we build it?
Sometimes, you might walk away from a conversation with the joy of having made a cool new friend.
Or you snagged a critical piece of information that you realllllly needed. Or you successfully negotiated an extra $5,000 off your car.
On the flip side, sometimes you'll walk away from a conversation, scratching your head and wondering … “What just happened?”
If either of these situations have happened to you, Charles Duhigg will help you understand WHY.
Duhigg is a Pultizer Prize winning reporter. He holds an undergrad degree from Yale and an MBA from Harvard. He wrote for the LA Times and New York Times, before landing at The New Yorker.
His first two books, The Power of Habit and Smarter, Faster, Better, have sold more than 5 million copies. Recently, he came out with a new book called Supercommunicators.
He chats with us today to discuss the power of communication.
Duhigg shares why communication is a critical component to happiness and success in every part of life. He discusses the different styles of conversations that people can have, which lead to either connection or disconnection. He also shares critical tips to help us all become supercommunicators and live richer lives.
Enjoy!

For more information, visit the show notes at https://affordanything.com/episode490
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Inside the Mind of a Supercommunicator, with Charles Duhigg

#489: Cara made $100,000 in commissions this year, her biggest bonus ever. What should she do with the money if she wants to retire early?
An anonymous caller is upset that the 401k plan he sold his boss on is charging him an Assets Under Management (AUM) fee. Should he keep the 401k at all?
Remy and her husband need to come up with $30,000 for IVF treatments. How do they build their family without breaking the family finances in the process?
Another anonymous caller and his partner have lived in an RV for years. They’re ready to settle. Should they sell most of his investments to purchase raw land and build an off-grid home?
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
P.S. Got a question? Leave it at https://affordanything.com/voicemail

For more information, visit the show notes at https://affordanything.com/episode489
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Ask Paula: What to Do with a Six-Figure Windfall?

#488: Ever made a flippant, seemingly minor decision that radically changed the course of your life?
Morgan Housel has experienced this. At age 17, he made a quick decision that ended up saving his life. Sadly, two of his friends were less fortunate.
He shares that story in today's podcast episode, and sheds light on the lessons he's learned from it.
Housel says that his lifesaving choice -- and many of our other important decisions -- are snap verdicts, ones that we don’t spend much time thinking about.
If pivotal moments are decided in a flash, how do we navigate risk? How do we evaluate our options?
Housel says this comes understanding concepts that remain constant, consistent, and universal.
We need to accept that humans aren’t rational. We must appreciate the reasons why the best answer doesn’t always win. We ought to remember that we overlook many good things happening around us. These constants will most likely impact our futures.
Housel was named by MarketWatch as one of the 50 most influential people in the market. He is the New York Times bestselling author of The Psychology of Money. His new book is titled Same As Ever.
He joins us to discuss the ideas in his latest book.
For more information, visit the show notes at https://affordanything.com/episode488
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Gut Instincts and Big Decisions, with Morgan Housel

#487: Luis’s wife is killing it at her side hustle. The unexpected income has led Luis to YouTube for hacks to capitalize on their surplus. Can a 529 plan double as long-term care savings?
Elizabeth is frustrated with the housing market. She’s been saving for years but isn’t anywhere near her goal. Should she give up and spend it on a dream pottery course instead?
Steve has a dilemma. He doesn’t borrow money on principle. And his wife doesn’t want to sell their current house until they’ve closed on the next one. How is he going to make this work?
Greta wants to “reverse” rollover an IRA into a 401k to avoid the pro-rata rule. Is that a thing?
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
P.S. Got a question? Leave it at https://affordanything.com/voicemail

For more information, visit the show notes at https://affordanything.com/episode487
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Ask Paula: "Should I Put My Dreams on Hold … and Buy a House Instead?"

#486: By every definition of the word, we’re in a bull market.
The S&P 500 hit record highs for five consecutive days last week, and remained strong throughout this week.
The Dow is above 38,000 for the first time in history.
Unemployment has stayed below 4 percent for 24 months, marking the strongest employment in half a century.
And consumer sentiment, which reflects more pessimism than the data warrants, is showing signs of improvement.
The Fed met this week and decided to hold rates steady, as expected, but there are hints that they’ll start dropping interest rates within a few months.
Inflation isn’t yet down to the Fed’s target rate of two percent, but it’s getting closer — with one notable exception. Auto insurance has skyrocketed; across the nation, car insurance is 17 percent higher than last year.
Meanwhile, a shake-up in the real estate industry is creating tumult for the National Association of Realtors, which is facing its first serious challenge in 100 years. The outcome could determine how steeply you’ll have to pay when you sell your home.
Where do we go from here? What’s next for the economy? We tackle these questions in this First Friday podcast episode.
Enjoy!

For more information, visit the show notes at https://affordanything.com/episode486
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Stocks are Hot. Jobs are Hotter. What’s Next?

#485: If you’ve ever thought: "I’d love a business BUT …”

I don’t have TIME

I don’t have MONEY

I don’t have IDEAS

I have TOO MANY ideas and I don't know where to start

I'm not technical

I'm not creative or artistic

I'm not good at sales


You're not alone. Countless people don't start businesses or side hustles for these reasons.
And they're losing thousands -- perhaps millions -- in opportunity cost.
How much could you make if you started a side hustle that eventually scaled into a business? Possibly millions. Today's guest, Noah Kagan, is living proof.
Noah was employee #30 at Facebook. His stock options, if fully vested, would be worth over $1 billion today.
(If you want to do the math -- his stock options came to 0.1 percent of the company, which has a current market cap of $1 trillion.)
But Noah was fired just a couple months before his stock options vested. So rather than getting a billion-dollar payout, he got nothing.
He sank into a deep depression, eventually recovering with the help of a therapist who counseled him on how to reframe the experience.
Then he rolled up his sleeves and got to work. He became a serial entrepreneur, building multiple businesses. His most successful venture now makes $80 million in gross revenue, and his personal take-home is $3.3 million per year (which comes from a $200,000 annual salary and $3.1 million profit distribution.) His net worth is $36 million.
Not a billion, but still not too shabby.
Noah recently wrote a book called "Million Dollar Weekend: The Surprisingly Simple Way to Launch a 7-Figure Business in 48 Hours."
He sits down with us (in person!) to share:
-- how to find business ideas
-- how to overcome objections and rejections
-- how to scale
By the end of the episode, the common objections that you often hear -- like "I don't have time/money/ideas" -- will be quashed.
Please enjoy!

For more information, visit the show notes at https://affordanything.com/episode485
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How to Start a Business in One Weekend, with Noah Kagan

#484: Kristen’s financial advisor charges a 1.3 percent fee on her investments. They also sold her term life, whole life, and long-term disability insurance. Do they have her best interests at heart?
Casey has $290,000 in student loan debt. He committed 10 years to one employer for a chance at public service loan forgiveness. But five years in, Casey questions what he’s missing out on.
Sara feels like it’s time to move to a more conservative asset allocation but she’s torn between buying bonds from Vanguard or Treasury Direct. What’s the difference anyway?
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!
P.S. Got a question? Leave it at https://affordanything.com/voicemail
For more information, visit the show notes at https://affordanything.com/episode484
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Ask Paula: The Hidden Cost of Student Loan Forgiveness

#483: Competitive. Results oriented. Driven to be the very best.
These are a few ways to describe achievement culture.
Achievement culture can also be described as stressful, high pressure and unhealthy.
Yet, there is consistently the pressure – internally and externally – to make more money, be a better parent, spouse, friend, or employee. These burdens comes at a heavy cost to our well-being.
Jennifer Breheny Wallace, author of the New York Times Best Seller “Never Enough: When Achievement Culture Becomes Toxic - and What We Can Do About It” shares with us how to manage our need for success AND how to avoid the toxic traps that can accompany obsession with success.
She offers insights into the consequences of this culture on individuals' mental health, and overall well-being, while also discussing practical solutions to common challenges.
If you've ever felt the burn of trying to do it all, or if you just want a smarter way to navigate success without losing your sanity, the insights shared in this interview will help you develop a more fulfilling and balanced life.
For more information, visit the show notes at https://affordanything.com/episode483
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Thriving in a High-Pressure World, with Jennifer Breheny Wallace

#482: A caller named “M” wonders if liquidating stocks for a larger down payment makes sense in a high-interest rate environment.
An anonymous caller wants to take a pay cut to pursue his passions. But 75 percent of his net worth is in real estate. Is this too risky?
Tiffanie hasn’t saved enough for early retirement, but she has a plan to use home equity to accelerate her goals. Is this going to work?
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!
P.S. Got a question? Leave it at https://affordanything.com/voicemail

For more information, visit the show notes at https://affordanything.com/episode482
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Ask Paula: Should We Drain Our Brokerage to Make a HUGE Down Payment?

#481: Predicting the stock market is a terrible idea.
But we can look at economic indicators and upcoming events to get a big-picture, 30,000-foot view of where our economy might be heading in 2024.
In today’s episode, we explore what’s in store for 2024.
We talk about the recent surge in Bitcoin prices, and the expected SEC approval of a Bitcoin ETF.
We discuss when the Fed will lower interest rates, and the impact this might have on home buying.
We talk about Robert Kiyosaki’s recent admission that he’s holding $1.2 billion in debt.
And we take inventory of black swan events and election year abnormalities that might impact the flow of money.
Enjoy!

For more information, visit the show notes at https://affordanything.com/episode481
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What’s In Store for 2024? Bitcoin, Home Buying, and Kiyosaki’s $1.2 billion in debt

#480: The death of a sibling.
Being declared dead after a head-on collision with a drunk driver.
Suffering financially during the Great Recession.
CANCER.

Today’s guest, Hal Elrod, has battled all of these tough challenges.
His little sister passed away in his mother's arms. Years later, Hal was hit by a drunk driver, broke 11 bones, declared dead, and once revived, learned that he might have to spend the rest of his life in a wheelchair. (He eventually regained his ability to walk.) And after that, he was slammed hard in the wallet during the Great Recession.
But he's a fighter. He needed to develop practices to build his resilience.
So Hal created “The Miracle Morning,” a morning routine practice that gained massive popularity when he released it in 2012.
The six-step Miracle Morning routine is coined S.A.V.E.R.S. -- silence, affirmations, visualization, exercise, reading, and scribing (writing).
The routine became wildly popular, in part due to its flexibility; Hal explains that time-crunched people can start this as a six-minute routine; dedicating just ONE minute to each of these six steps. Over time, people can see the positive changes that this makes, and expand the time they allot for this.
The routine is now the subject of a documentary, also called the Miracle Morning, available on Prime Video. Midway through filming, Hal was diagnosed with a rare form of leukemia and given a 30 percent chance of survival. He let the cameras roll as he coped with his diagnosis in real time.
He joins us on this podcast to describe that experience, and to talk about the practices that he's used to stay productive in the face of grief, severe injury and cancer. 
He talks to us about: 

the powerful Five-Minute Rule that helped him recover from a nearly fatal car crash

the six most popular personal development practices of the successful

specific tactics you can harness to create YOUR most successful life.

As we move into the New Year, many of you are setting goals and resolutions.
Hal describes specific, actionable tactics that you can use to build scaffolding and support around your new goals.
Enjoy!
For more information, visit the show notes at https://affordanything.com/episode480
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Your Blueprint for Life's Toughest Challenges, with Hal Elrod

#479: Nicole’s 78-year-old mom is paying huge fees for low returns. How can Nicole help her mom make better investments?
Paul is a single dad, worried about paying his daughter’s college costs. He’s trying to figure out how to report lower income on the FAFSA, so that his daughter can get better financial aid.
Nick is in his 40’s. His long-term care insurance rate is nearly doubling. Should he stop spending on this type of insurance?
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!

P.S. Got a question? Leave it at https://affordanything.com/voicemail
For more information, visit the show notes at https://affordanything.com/episode479
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Ask Paula: Is Mom Getting Ripped Off by Her Investment Advisor?!

#478: Ever skipped that extra drink, pricey cheese, or a night out for the sake of your wallet?
If this feels familiar, then you’ll appreciate today’s episode with Jamila Souffrant.
Jamila is a Certified Financial Education Instructor, podcast host, and author, guiding us on making savvy choices to save while still having fun.
Jamila explores the power of understanding our ""why not,"" staying motivated on our financial paths, shaping a success-bound mindset, and posing THREE crucial self-assessment questions for goal alignment.
For more information, visit the show notes at https://affordanything.com/episode478
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Buy the Damn Guac, with Jamila Souffrant

#477: Kayla is torn between paying off a loan early or catching up on missed retirement contributions.
Josh wants to retire early and meets the threshold for zero capital gains taxes. Should he put all his retirement savings into a brokerage account?
An anonymous caller wants to know how to merge financial lives with her husband from another country.
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!

P.S. Got a question? Leave it at https://affordanything.com/voicemail
For more information, visit the show notes at https://affordanything.com/episode477
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Ask Paula: Investing for the Future vs. Paying Down the Past

#476: Mike Massimino stared in disbelief at his TV. The date was July 16, 1969, and he marveled as Neil Armstrong and Buzz Aldrin landed on the moon.
At that moment, he knew he wanted to become an astronaut. He was six years old.
But as Mike grew older, he developed more “realistic” dreams. After all, every kid wants to become an astronaut. The chances of making it are incredibly slim. He went to a local college, studied engineering, and took a job at IBM.
But he couldn’t shake the tiny voice inside that said – “why not try?”
So Mike upended his life. He enrolled in a Ph.D. program at MIT, and then proceeded to fail the qualification exam so badly that his professors gently suggested that perhaps a doctorate isn’t right for him.
He battled to pass the exam on his second attempt, and went on to teach at Georgia Tech, from where he repeatedly submitted applications to NASA for their astronaut candidate program – which they called “as* can.”
He was thrilled when he finally received his acceptance – until he learned that he needed 20/20 vision. At the time, NASA required astronauts to have naturally 20/20 eyesight, without surgery.
So he sought out a doctor to help him re-train his eyesight.
Then he learned that he’d need to pass a swim test. He was in his 30’s and had never swum. “Can’t I just take a math quiz?,” he joked.
But he … didn’t let that sink him. (Pun intended).
In today’s special episode, former NASA astronaut Mike Massimino explains how anyone – including you – can take your own moonshot.

For more information, visit the show notes at https://affordanything.com/episode476
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Astronaut's Guide to Taking YOUR Moonshot, with Mike Massimino from NASA and Big Bang Theory

#475: Born in 1924, Charlie Munger was raised during the Great Depression.
At the time of his death on Tuesday, his net worth was estimated at $2.6 billion.
But Munger’s greatest achievement wasn’t merely the scorecard of his net worth. His wit and wisdom, which Munger shared with the world through his book, Poor Charlie’s Almanack, which made him one of the most respected investors of the last century.
Munger is the man who taught Warren Buffet how to invest.
He’s lauded as the moral compass of Berkshire Hathaway, the company where he has served as vice chairman since 1984.
He’s the man who famously said, "In the short run, the market is a voting machine. But in the long run, it is a weighing machine."
Munger and Buffett met each other in Omaha, their shared hometown, at a lunch at the local Omaha Club, where they were introduced by mutual friends. They instantly connected.
Buffett was an unknown at the time, but Munger saw his potential.
Munger’s wife once asked him, “Why are you paying so much attention to [Buffett]?,” and Munger replied, “You don’t understand. That is no ordinary human being.”
Their business partnership and friendship has lasted for more than 50 years, and Munger played a key role in many of Buffett’s investing decisions.
He passed away on November 28, 2023, at age 99.

In today’s First Friday bonus episode, we pay homage to the late investing legend Charlie Munger.
For more information, visit the show notes at https://affordanything.com/episode475
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Tribute to Charlie Munger, The Man Who Taught Warren Buffett How to Invest

#474: When Tiffany Aliche was in her 20’s, she fell victim to a credit card scam.
A crafty swindler convinced her to take out a cash advance against her credit card for $35,000. He said that he’d invest the money and produce Bernie Madoff-style returns. She was an inexperienced investor. She believed him.
She never saw that money again.
Aliche worked at a preschool. She didn’t make much money to begin with. But matters worsened when the school shut down, and she lost her job. She fell behind on mortgage payments and lost her condo.
In order to recover from such huge setbacks, she had to grapple with an enormous sense of financial shame.
Today, financial educator Tiffany Aliche, better known as The Budgetnista, shares how she overcame financial shame.
She talks to us about the opposite of shame, which is a sense of financial wholeness. And she discusses practical tips for how to navigate the challenges of debt and scams.

For more information, visit the show notes at https://affordanything.com/episode474
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Surviving a $35,000 Credit Card Scam, Job Loss and Foreclosure, with Tiffany Aliche, The Budgetnista

#473: Sarah has cash to pay a $8,000 medical bill but she’s reluctant to drain her savings. Should she sign up for the hospital’s interest-free payment plan?
Jennie is an independent consultant but gets paid as a W-2 employee. Without access to a SEP IRA or a 401k plan, is there another option to save for retirement?
An anonymous caller is wondering how to run a cost-benefit analysis on pursuing a graduate degree.
Brian is getting inundated with spam calls as a real estate investor. Is there a way to stop the madness?
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
P.S. Got a question? Leave it at https://affordanything.com/voicemail
For more information, visit the show notes at https://affordanything.com/episodes473
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Ask Paula: How to Pay Off a $8,000 Medical Bill Without Going Broke

#472: Imagine this: You’re a teenage musical prodigy, a world-class classical French horn player. You drop out of college at age 19 and spend your twenties touring the globe as a musician (including, once, tripping and falling off the stage at Carnegie Hall).
At age 31, you retire from your musical career, get a Ph.D., and become a professor – first at Syracuse and then at Harvard, where you teach both at Harvard Business School and at the Harvard Kennedy School.
You publish 13 books and write a column for The Atlantic, which gets noticed by Oprah Winfrey. Oprah then invites you to dinner, where she asks you to co-author a book together.
This is the life of today's guest, Harvard Professor Arthur Brooks, whose collaboration with Oprah, a book called Build the Life You Want, focuses on the science and research behind happiness.
Brooks teaches a class on leadership and happiness to second-year Harvard MBA candidates. In our conversation, we discuss a range of topics, including metacognition (thinking about how to think), the neurobiological basis of ruminating, and how to balance the concept of contentment with the innately human urge for ambition and progress.
He also offers a formula for happiness: enjoyment + satisfaction + meaning and purpose.
So – I hope you enjoy this episode; I hope you find it satisfying, and I hope it fills you with meaning and purpose!
– Paula

For more information, visit the show notes at https://affordanything.com/episode472
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