Afford Anything

著者： Paula Pant | Cumulus Podcast Network
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  • You can afford anything, but not everything. We make daily decisions about how to spend money, time, energy, focus and attention – and ultimately, our life. How do we make smarter decisions? How do we think from first principles? On the surface, Afford Anything seems like a podcast about money and investing. But under the hood, this is a show about how to think critically, recognize our behavioral blind spots, and make smarter choices. We’re into the psychology of money, and we love metacognition: thinking about how to think. In some episodes, we interview world-class experts: professors, researchers, scientists, authors. In other episodes, we answer your questions, talking through decision-making frameworks and mental models. Want to learn more? Download our free book, Escape, at http://affordanything.com/escape. Hosted by Paula Pant.
    2024 Afford Anything LLC
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あらすじ・解説

You can afford anything, but not everything. We make daily decisions about how to spend money, time, energy, focus and attention – and ultimately, our life. How do we make smarter decisions? How do we think from first principles? On the surface, Afford Anything seems like a podcast about money and investing. But under the hood, this is a show about how to think critically, recognize our behavioral blind spots, and make smarter choices. We’re into the psychology of money, and we love metacognition: thinking about how to think. In some episodes, we interview world-class experts: professors, researchers, scientists, authors. In other episodes, we answer your questions, talking through decision-making frameworks and mental models. Want to learn more? Download our free book, Escape, at http://affordanything.com/escape. Hosted by Paula Pant.
2024 Afford Anything LLC
リーダーシップ 個人ファイナンス 経済学
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エピソード
  • MadFientist: The Hardest Part of Early Retirement Wasn't the Money

    MadFientist: The Hardest Part of Early Retirement Wasn't the Money
    2024/11/05
    #555: Brandon Ganch (known online as MadFientist) joins us from Scotland to share how his life has transformed since retiring in 2016 at age 34. “I thought retirement was an age, not a function,” he said. “And when I realized it was just a math function, it changed my entire life.” Eight years into retirement, Brandon talks about how his spending and lifestyle have evolved. While his investment portfolio has grown "exponentially," he's had to push himself to spend more money. He and his wife have doubled their spending in the last three years, yet still haven't reached the 4 percent withdrawal rate that's common in early retirement. Having two young kids (a two-year-old son and one-month-old daughter) has changed their spending patterns. Restaurant bills and craft beer costs have dropped significantly, while they've invested in a house — their third, but the first one Brandon says he actually enjoys owning since he's no longer "hyper-frugal." Brandon shares his few regrets from his journey to financial independence, mainly missing friends' bachelor parties in his twenties because he didn't want to pay for two transatlantic flights in one month. The book "Die with Zero" has shifted his perspective on spending, making him realize there are "seasons in life" for certain experiences. Brandon suggests trying to live your "post-FI life" before actually reaching financial independence. By traveling for three months straight, he learned that constant travel wasn't actually what he wanted. He emphasizes that financial independence isn't just about early retirement — it's about having choices and power in your career. You can find Brandon at madfientist.com or listen to his music at madfientist.com/album. A Sampling of MadFientist Articles: Retirement withdrawal strategies: https://www.madfientist.com/discretionary-withdrawal-strategy/ Baseline portfolio vs. optimized portfolio: https://www.madfientist.com/guinea-pig-experiment/ FI spreadsheets: https://www.madfientist.com/financial-independence-spreadsheet/ FI laboratory: https://www.madfientist.com/resources/ How to use an HSA as a Super IRA: https://www.madfientist.com/ultimate-retirement-account/ How to Stack Tax Benefits: https://www.madfientist.com/stack-tax-benefits/ And of course, his passion project in retirement — the album: https://www.madfientist.com/album/ Timestamps: Note: Timestamps will vary on individual listening devices based on dynamic advertising run times. The provided timestamps are approximate and may be several minutes off due to changing ad lengths. 0:00 - Paula opens with a Guy Fawkes Day reference and historical background 2:06 - Brandon Ganch (MadFientist) introduces himself as having retired in 2016 at age 34 4:09 - Brandon explains how HR discovering his Scotland location led to his early retirement 7:01 - Discusses the "power of quitting" and how having FI helped him negotiate better work terms 11:26 - Explains how spending habits changed post-retirement, especially around house ownership 13:37 - Talks about having kids and how that decreased spending on travel, restaurants and beer 19:27 - Shares his only regrets about the FIRE journey, including missing friends' bachelor parties 26:58 - Discusses the "Die with Zero" book and its impact on his financial philosophy 33:32 - Explains why optimization and hyper-frugality are no longer priorities in his life 40:06 - Updates on his music passion project and performing live with his brother 44:21 - Advises people to start living their post-FI life before reaching financial independence 48:36 - Explains why FI might not be for everyone but financial security matters for all 51:28 - Shares thoughts on AI's impact on software development jobs and being glad he's already FI For more information, visit the show notes at https://affordanything.com/episode555 Learn more about your ad choices. Visit podcastchoices.com/adchoices
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    1 時間 4 分
  • The Most Expensive Election Trade Ever Made (A Cautionary Tale)

    The Most Expensive Election Trade Ever Made (A Cautionary Tale)
    2024/11/01
    #554: The U.S. jobs market hit a surprising speed bump in October, adding just 12,000 new jobs — way below the expected 100,000. A mix of natural disasters and labor unrest explains the slump. Recent hurricanes in the Southeast wiped out somewhere between 40,000 to 70,000 jobs, while strikes at Boeing and other companies added to the slowdown. Against this backdrop, the Federal Reserve looks ready to cut interest rates next week by 0.25 percent. Meanwhile, gold is having its biggest moment since 1979, but not for reasons you might expect. Central banks, especially in China and India, are loading up on physical gold like never before. Poland's central bank has grabbed 167 tons of gold and wants to keep 20 percent of its reserves in gold — a move that hints at banks preparing for possible global shake-ups. Remember when I-Bonds were the hot ticket in 2022, paying out 9.6 percent? Those glory days are gone. The new rate has dropped to 3.1 percent, making your standard high-yield savings account look pretty good in comparison. In the stock market, it's all about the "Magnificent Seven" — Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla. These tech giants account for 62 percent of all S&P 500 gains over the past year. The other 493 companies aren't doing too shabby either, with profits expected to grow 13 percent next year. As for the upcoming election, both presidential candidates' economic plans would push the federal deficit higher. The Wharton School of Business says Trump's proposals would add $5.8 trillion to the deficit over 10 years, while Harris's would add $1.2 trillion. There's also talk about tariffs that could spark inflation and maybe even kick off a global trade war. Here's the kicker: during the 2016 election, a 24-year-old Sam Bankman-Fried correctly predicted the outcome before anyone else and made $300 million in a single night trading on that information. But by morning, the markets had swung so wildly that he'd lost $600 million. The lesson? Even if you guess the election right, predicting how markets will react is a whole different ball game — one that you should avoid. Think long-term, buy-and-hold. Timestamps: Note: Timestamps will vary on individual listening devices based on dynamic advertising run times. The provided timestamps are approximate and may be several minutes off due to changing ad lengths. 0:00 October jobs report falls short 3:42 Fed signals likely 0.25 percent rate cut next week 8:15 Gold prices surge to 45-year high 12:30 China and India lead global gold buying spree 18:45 I-Bond rates plummet from 9.6 to 3.1 percent 24:10 "Magnificent Seven" tech stocks dominate market gains 29:35 US economy outpaces Germany, other G7 nations 35:20 AI's transformative impact on Generation Alpha 42:15 Inflation risks and tariff concerns ahead of election 48:30 US deficit hits 6 percent, tops G7 countries 52:45 Wharton analyzes Harris vs Trump economic plans 58:20 SBF's $600M election night trading disaster Resources Mentioned Wharton’s Trump Campaign Economic Analysis: https://budgetmodel.wharton.upenn.edu/issues/2024/8/26/trump-campaign-policy-proposals-2024 Wharton’s Harris Campaign Economic Analysis: https://budgetmodel.wharton.upenn.edu/issues/2024/8/26/harris-campaign-policy-proposals-2024 The Economist, Editorial Board Endorsement: https://www.economist.com/in-brief/2024/10/31/why-the-economist-endorses-kamala-harris Bloomberg Endorsement: https://www.bloomberg.com/opinion/articles/2024-10-31/michael-bloomberg-why-i-m-voting-for-kamala-harris The Financial Times endorsement, which is unfortunately behind a paywall: https://www.ft.com/content/3db1db35-f536-4efc-b463-a1fc98a785b0 For more information, visit the show notes at https://affordanything.com/episode554 Learn more about your ad choices. Visit podcastchoices.com/adchoices
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    51 分
  • The Brutal Money Truth No One Wants to Hear, with Dr. Brad Klontz and Adrian Brambila

    The Brutal Money Truth No One Wants to Hear, with Dr. Brad Klontz and Adrian Brambila
    2024/10/29
    #553: This is the third and final episode in a three-part series. Dr. Brad Klontz and Adrian Brambila join us to share 21 harsh truths about building wealth. This episode focuses on the final 11 harsh truths, following up on their previous conversations about the first 10 harsh truths. The conversation begins with a key distinction: poor people buy stuff, while rich people buy time. They explain how wealthy people focus on building passive income streams rather than trading hours for objects. Brambila shares how he learned this lesson personally, discussing his pickleball court purchase through investment income rather than active work hours. The duo challenges common assumptions about luxury brands, arguing that people who constantly show off designer items are usually compensating for insecurity. Klontz shares his own experience of buying an expensive watch early in his career to prove his success. They examine whether college, marriage, and homeownership are necessary for wealth building. While data shows these traditional paths often lead to higher net worth, they acknowledge these aren't the only routes to financial success. On the topic of retirement, both guests argue that completely stopping work can be psychologically harmful, sharing examples of successful people who stayed active well into their later years. They break down specific money-saving strategies like getting roommates, using public transportation, and cutting your own hair. Brambila demonstrates how women can cut their own hair during the interview. The discussion covers specific side hustle opportunities, with detailed explanation of how to make money doing Amazon product reviews. Brambila shares how his videos have generated significant income, including $2,000 in a single day during Black Friday. They address money myths about credit cards, particularly the misconception about carrying balances to improve credit scores. Real examples and personal stories illustrate their points. Klontz shares how his 11-year-old son is making $5,000 monthly doing Amazon reviews, while Brambila discusses living in a van while earning six figures to demonstrate that wealth isn't about outward appearances. The episode concludes by connecting financial security to Maslow's hierarchy of needs, explaining how building wealth enables higher-level personal growth and positive impact. Timestamps: Note: Timestamps will vary on individual listening devices based on dynamic advertising run times. The provided timestamps are approximate and may be several minutes off due to changing ad lengths. 0:00 Introduction 2:02 Poor people buy stuff, rich people own time 13:20 Wealth mindset invests in passive income vs trading time 21:20 Only insecure people flex luxury brands 30:00 Debating necessity of college, marriage, homeownership 38:20 Why retirement can harm mental health 48:40 Wealthy people aren't afraid to ask for help 54:40 Don't rely on politics for financial freedom 1:03:20 Complaining keeps you poor 1:05:20 Alternative saving strategies: roommates, bus, sobriety 1:15:20 Netflix binging vs side hustles 1:19:40 Making money with Amazon product reviews 1:28:20 Credit cards must be paid in full monthly 1:31:00 The importance of thinking rich 1:33:30 Where to find more resources and bonuses For more information, visit the show notes at https://affordanything.com/episode553 Learn more about your ad choices. Visit podcastchoices.com/adchoices
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    1 時間 40 分

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