Afford Anything | Make Smart Money Choices

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  Your "Diversified" Portfolio Might Secretly Be One Big Bet on AI, with Alec Litowitz 15.09.2026 1t 57min

  #750: Free worksheet: question the belief that might be keeping you stuck — before reality forces the update for you: http://affordanything.com/turn-it-around Alec Litowitz spent three decades building one of the world's largest hedge funds, and he says the highest-IQ people in the room are often the last to notice the world has changed. His answer isn't more intelligence — it's the willingness to be wrong, quickly, and update before everyone else catches up. Alec co-founded Citadel alongside Ken Griffin and later founded Magnetar Capital, one of the largest alternative asset managers in the world. His new book, The Adaptability Quotient, is out September 15. In this episode, we discuss: How adaptability quotient (AQ) differs from IQ and EQ — and why it matters more now What a doomed Antarctic expedition reveals about real adaptability Why AI makes knowledge abundant and judgment scarce How to stop needing to be right so you can update faster The real reason Blockbuster lost to Netflix (it wasn't a bad decision) A 4-part test for telling a temporary shift from a permanent one Why a "diversified" portfolio might secretly be one big bet right now This episode is for anyone whose career, portfolio, or plans feel less certain than they used to — a way of thinking that doesn't require predicting the future, just noticing when your old model has stopped working. Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  How a Blind Man and His Guide Dog Survived Sept. 11 — and What His Mindset Can Teach Us, with Michael Hingson 11.09.2026 1t 33min

  #749: Michael Hingson was on the 78th floor of the North Tower of the World Trade Center when the first plane hit on Sept. 11. He felt the impact, but couldn’t see it. Michael has been blind since shortly after birth. Alongside his guide dog, Roselle, they descended 1,463 steps – escaping just before the South Tower, 100 yards away, collapsed. They then helped a woman who was temporarily blinded by the dust. Michael's story answers the question – What do you do when something terrifying is happening, you don't have enough information, you cannot control the outcome, and everyone around you is beginning to panic? Michael's answer is surprisingly practical. 1. Prepare before you need the preparation. 2. Know what you know, know what you don't know. 3. Stop mentally rehearsing outcomes you cannot control 4. Keep acting on the part that remains within your control. He had deliberately learned the World Trade Center's exits, emergency procedures, physical layout, and systems long before Sept 11 because he believed that was part of being responsible for his office. When the building was struck, he describes that preparation as a “mindset” that simply kicked in. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (00:00) Life before September 11 (24:34) The plane hits the North Tower (34:03) Fear takes over in the stairwell (1:04:01) Turning tragedy into a new career (1:28:02) Challenging attitudes about blindness (1:38:01) Supporting guide dog organizations 🔗 RESOURCES MENTIONED michaelhingson.com guidedogs.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  Q&A: My Dream Job Won't Wait If I Take a Family Gap Year — Do I Quit Anyway? 08.09.2026 1t 1min

  #748: The real question behind quitting a job you love or paying off debt anyway? Your money mindset. Take our free quiz to find yours: https://affordanything.com/fiire A listener with $686,000 saved and a job she loves wants to take her family on a year-long trip — but Paula says her real question isn't about money at all. Later: a dad chooses to stop maxing his IRA to pay off a mortgage, even though the math says otherwise. Joe joins from the road to help answer three listener questions: a family weighing a year off against a job she loves, a dad debating whether to stop maxing his IRA to pay off a house, and a longtime listener with a smarter way to save for college. In this episode, we discuss: How to decide whether a job you love is worth walking away from for a family gap year The three factors that actually predict whether you'll love your next job Why "retiring early" might be the wrong goal — and what to aim for instead How to know if you're financially ready for a career break, and what to prep first Why paying off your mortgage can beat investing, even when the math says otherwise How to structure your mortgage term like a finance pro (and why the 30-year can win) Why saving in separate, labeled accounts makes it easier to actually hit your goals Whether you're weighing a big life pivot, deciding what to do with extra cash, or just trying to make saving feel less abstract, this episode offers frameworks — not just formulas — for making the call. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (07:12) Can you afford to quit a job you love? (11:09) Three things that actually predict job satisfaction (17:05) Why this window with your kids won't come twice (22:20) Why retiring often beats retiring early (30:14) Why bad trip experiences count as good data (34:18) Why paying off debt can beat the math (36:49) Why coasting on your current savings pace is risky (44:26) How to think like a CFO about your mortgage (51:09) Why one bucket per goal makes saving easier (53:46) Why your 401k isn't really about retirement 🔗 OTHER RESOURCES 👉 The real question behind quitting a job you love or paying off debt anyway? Your money mindset. Take our free quiz to find yours: https://affordanything.com/fiire 👉 Camp Fi, the financial independence retreats Paula and Joe swap stories about this episode: https://campfi.org 👉 Heavy Metal Money, Chris Luger's personal-finance podcast (Joe recorded this episode from his place): https://heavymetal.money 👉 Got a question of your own? Leave a voicemail for Paula: https://affordanything.com/voicemail Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  First Friday: Hope in Nepal; Trouble in the Bond Market 05.09.2026 45min

  #747: We have good news on multiple fronts to share about the job market, the stock market, the commodities market, and volatile news around the bond market. And we begin it with some great news coming out of Nepal. Welcome to the First Friday episode for September 2026. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (00:00) Rescued workers in Nepal (04:53) Strong August jobs report (10:14) Conflicting employment data (12:27) Strong jobs, weaker stocks (17:43) Why bonds matter more (23:17) Inflation drives Treasury yields (29:45) Hidden risks in bonds (36:50) Treasury buyback controversy (43:32) Liquidity versus warning signs 🔗 RESOURCES MENTIONED 👉 Build a Life of Financial Freedom with our free workbook: https://affordanything.com/fiire Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  Q&A: What Nepal Reveals About Wealth and Safety 01.09.2026 1t 2min

  #746: We begin today’s episode with a discussion of the disastrous flash flooding in Nepal, a personal topic for Paula given her family there. There’s both a human story, one of the resilience of the Nepalese people and the strong community bonds there, and an economic story, where poor infrastructure and a lack of economic development have hindered disaster response and exacerbated the tragedies of recent events.  Listeners can donate to help the victims here:  The Prime Minister Relief Fund: https://pmdrf.nchl.com.np/ Caritas Nepal: https://www.caritasnepal.org/donate-now/ Learn more about the ongoing rescue efforts at https://help.ekantipur.com/ A caller wants to put part of her mom's $80,000 home-sale proceeds into an annuity — and it left her financial-planner co-host doing a double take. Turns out it might be the first caller in the show's history the product was actually built for. This week's Q&A tackles two retirement questions from listeners: when it makes sense to ease off maxing out a 401k in favor of a more flexible brokerage account, and whether a guaranteed-income annuity is the right move for a retiree who isn't great at managing money on her own. In this episode, we discuss: How to know when to stop maxing out your 401k and start filling a taxable brokerage account instead The real "deal" you're making with the government every time you use a tax-advantaged account Why an insurance company can keep 100% of the money if the annuity holder dies too soon — and how to avoid it The one type of person a guaranteed-income annuity is actually built for A simple daily habit trick for building consistency, borrowed from a world-class choreographer Why doing everything right doesn't guarantee a good outcome, and what that means for your own decisions What Nepal's disaster response reveals about the real payoff of economic development Whether you're mapping out an early-retirement bridge or helping a parent build guardrails around a windfall, this episode will help you think more clearly about the trade-offs each option carries. 🔗 RESOURCES MENTIONED 👉 Not sure which investments belong in your 401k, your Roth, or your taxable account? Grab our free guide to figuring out where each one goes: https://affordanything.com/assetlocation 👉 Morgan Housel on the split-second decision that changed everything: https://affordanything.com/488-gut-instincts-and-big-decisions-with-morgan-housel/ 👉 Our interview with retirement researcher Dr. Wade Pfau on annuities and retirement income: https://affordanything.com/271-retirement-planning-in-2020-with-dr-wade-pfau/ Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  The Four Kinds of Rich Nobody Counts -- with Sahil Bloom [GREATEST HITS] 28.08.2026 1t 21min

  #745: A friend once asked Sahil Bloom how often he saw his parents. About once a year, Sahil said. How old are they? Mid-60s. His friend did the math out loud. If they live to 80, you'll see them 15 more times. Sahil was 30, living in California and making great money at a venture fund. Within 45 days of that conversation, he quit his job, sold his house and moved across the country to be near family. He's now managing partner of SRB Ventures, an early-stage fund backing more than 60 startups, and he writes The Curiosity Chronicle, a newsletter read by millions. His book, "The 5 Types of Wealth," is a New York Times bestseller. His framework starts with a scoring problem. Financial wealth gets measured every day. Time, social, mental and physical wealth run in the background, unmeasured, until something forces you to look. You'll get exercises for each. Build an energy calendar that tracks which activities charge you up and which drain you. Map your relationships by how healthy and how frequent they are. Ask what your family and your community need from you. Define what "enough" means in dollars, then write the number down. Sahil also walks through anti-goals — the things you refuse to sacrifice on the way to a goal — and Memento Mori, the Roman habit of keeping your own death in view. Two questions run underneath all of it. Think about how you spent yesterday. Would your 10-year-old self be impressed? Would your 90-year-old self? You don't experience all four seasons in a single day. Sahil argues your life runs on seasons too. Some stretches call for financial growth. Others call for family. Find Sahil at the5typesofwealth.com. Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  This Historian Says We're Living in the Best Era Ever, with Joseph Moore 25.08.2026 1t 42min

  #744: With about $200 and a crypto exchange, historian Joseph Moore turned himself into a legitimate billionaire — a stunt that says more about how money actually works than most financial advice does. It's also a preview of the 300-year argument he makes in this episode: that almost everything we're told about money is newer, and far less permanent, than we think.Joseph Moore, PhD, is a historian and the national bestselling author of How to Get Rich in American History: 300 Years of Financial Advice That Worked (& Didn't). His own self-experiments with historical money strategies helped him become financially independent in his mid-40s. In this episode, we discuss: How "never save your money" used to be completely reasonable financial advice Why bonds quietly beat stocks for nearly all of the 1800s How to spot when today's "obvious" financial rules are about to expire Why real estate booms always show up right alongside inflation spikes Why young people's unemployment is outpacing everyone else's — and what history says to do about it Why economic optimism and economic data have stopped matching up Why building more housing is the only housing-crisis fix that's ever actually worked This one's for anyone who feels like the rules of money keep changing under them — because they do, and always have. Understanding that pattern is the first step to building wealth in whatever era you happen to be living in. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (05:18) How a runaway slave built his own legal currency (06:52) How he legally declared himself a crypto billionaire (13:22) Why a fifth of the Smithsonian's money collection is fake (15:52) The bestselling book that told readers to commit fraud (20:10) The decades when bonds quietly beat stocks (26:04) How his grandfather secretly became a bond millionaire (31:09) Why that "$10K in 1929" chart is misleading (48:02) Why wages are up 50% and nobody believes it (1:06:39) Why most Americans once owned one shirt (1:23:48) The rent control law that backfired for renters 🔗 RESOURCES MENTIONED 👉 Build a Life of Financial Freedom with our free workbook: https://affordanything.com/fiire 👉 Joseph Moore's site — his book, essays, and more: https://www.josephmoorebooks.com 👉 Your Money or Your Life by Vicki Robin & Joe Dominguez: https://vickirobin.com/your-money-or-your-life/ 👉 The Latte Factor by David Bach: https://www.simonandschuster.com/books/The-Latte-Factor/David-Bach/9781982120245 Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  Everyone Wants a Piece of You. Here's How to Stay Whole -- with Luke Burgis 22.08.2026 1t 7min

  #743: Everyone talks about a loneliness epidemic — but Luke Burgis argues the opposite problem is just as real: we now have so much easy, frictionless community that we never have to develop a solid sense of who we actually are. Luke Burgis is a professor of business at The Catholic University of America and the founder of the Cluny Institute, and the bestselling author of Wanting: The Power of Mimetic Desire in Everyday Life. He returns to the show to talk about his new book, The One and the Ninety-Nine. In this episode, we discuss: Why having too much easy community can be just as damaging as having none at all How to tell whether your beliefs are actually yours — or something you inherited without ever examining it Why cutting people off has quietly become the default response to conflict How to stop shrinking yourself just to keep other people comfortable The zero-tolerance rule Luke enforces at his own company to kill passive-aggressiveness before it starts How Luke actually decides who to trust, hire, and build relationships with What an existential crisis at 29 — and five humbling years training for the priesthood — taught a successful entrepreneur about identity This episode is for anyone who feels the pull between fitting in and standing out — in your family, your workplace, or your online life. Luke offers a way to build an identity solid enough to hold up under pressure, without giving up on real community. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (7:42) Two competing drives wired into every human being (10:11) Why group pressure breaks some people and not others (17:39) Why cutting people off replaced working through conflict (19:39) The real number of close friends you actually need (26:51) Where your beliefs actually came from (32:00) You're not responsible for how someone else feels (36:09) The zero-tolerance workplace rule against passive-aggressiveness (41:22) How to actually tell who you can trust (53:33) The existential crisis that sent an entrepreneur toward the seminary (55:39) The humbling lesson hidden in a vending machine 🔗 RESOURCES MENTIONED 👉 This free 10-day workbook helps you trace your money habits back to whether they're actually yours — starting with your own money mindset — https://affordanything.com/fiire 👉 Luke's website (books, newsletter, and more) — https://lukeburgis.com 👉 Luke's new book, The One and the Ninety-Nine: Forging Identity in the Age of Social Contagion — https://www.amazon.com/One-Ninety-Nine-Forging-Identity-Contagion/dp/1250373034 👉 Paul Graham's essay "Cities and Ambition," on how the place you live shapes what you want — https://paulgraham.com/cities.html Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  Q&A: I Reached Financial Independence Three Years Early … Now What? 18.08.2026 1t 9min

  #742: A listener hit her $1.4 million early-retirement goal three years ahead of schedule — and now she's stuck deciding whether paying off a low-interest mortgage is smart, or just fear in disguise. Later, a former financial planner explains why he still won't recommend one of the most talked-about "safer" investing strategies in the FIRE community. This week's Q&A tackles three listener questions: hiring your first accountant amid a complicated tax situation, whether to pay off a mortgage or retire early once you've already hit your number, and why one half of the show won't touch a popular alternative investing strategy. In this episode, we discuss: How to tell the difference between a CPA, an EA, and a tax attorney — and which one you actually need Why software can't keep up once your tax situation gets complicated How to interview and choose an accountant with confidence How to know if "one more year" at work is a smart plan or a sign of fear Why loving your job can change the entire math on early retirement Why a former financial planner still won't recommend risk parity investing What four well-known investing philosophies get right — and where they disagree Whether you're hiring your first accountant, staring down an early retirement decision, or trying to make sense of competing investment philosophies, this episode will help you separate genuine progress from comfortable procrastination. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (04:02) Why software can't handle a messy tax situation (08:02) The three types of tax pros — and who you actually need (12:46) How to interview and choose the right accountant (24:42) She hit her $1.4M goal three years early (32:22) The hidden fear behind "one more year" at work (38:29) Why loving your job changes the retirement math (49:39) Why a former advisor won't touch risk parity (53:46) Four investing legends who all disagree with each other (59:35) The historian's warning: history doesn't repeat itself (1:07:57) The cooking analogy that explains your portfolio 🔗 RESOURCES MENTIONED 👉 Not sure which investments belong in your Roth vs. your taxable account? Grab our free one-page guide to where each type of investment should sit: https://affordanything.com/assetlocation Karsten Jeske ("Big ERN"): 👉 "How to Lie with Personal Finance – Part 4: Risk Parity": https://earlyretirementnow.com/2026/07/29/risk-parity-lies/ 👉 "Can We Increase the Safe Withdrawal Rate with Risk Parity? – SWR Series Part 64": https://earlyretirementnow.com/2026/07/27/risk-parity-swr-series-part-64/ 👉 #548: Is Your Retirement Safe in Today's Economy?: https://affordanything.com/548-is-your-retirement-safe-in-todays-economy-with-dr-karsten-jeske-big-ern/ 👉 #643: LIVESTREAM: A Former Fed Economist Reveals What's Really Happening: https://affordanything.com/643-livestream-a-former-fed-economist-reveals-whats-really-happening-with-karsten-jeske-big-ern/ Nick Maggiulli: 👉 #375: The 2X Rule (and Other Wealth-Accelerating Advice): https://affordanything.com/375-the-2x-rule-and-other-wealth-accelerating-advice-with-nick-maggiulli/ 👉 #629: The Wealth Ladder Has Six Rungs (and Most People Never Climb Past Four): https://affordanything.com/629-nick-maggiulli-the-wealth-ladder-has-six-rungs-and-most-people-never-climb-past-four/ Frank Vasquez: 👉 #618: How to Retire at 50 While Supporting Aging Parents: https://affordanything.com/618-how-to-retire-at-50-while-supporting-aging-parents-with-frank-vasquez/ 👉 His podcast, Risk Parity Radio: https://www.riskparityradio.com JL Collins: 👉 #624: JL Collins Part 1 – The Simple Path vs. The "Optimal" Path: https://affordanything.com/624-jl-collins-part-1-the-simple-path-vs-the-optimal-path/ 👉 #625: JL Collins Part 2 – What Happens When You Don't Need to Work Anymore?: https://affordanything.com/625-jl-collins-part-2-what-happens-when-you-dont-need-to-work-anymore/ Paul Merriman: 👉 #550: Paul Merriman – The 4-Fund Strategy That Beats the S&P 500: https://affordanything.com/550-paul-merriman-the-4-fund-strategy-that-beats-the-sp-500/ 👉 #590: Small Cap Showdown! Paul Merriman vs. Dr. Karsten Jeske: https://affordanything.com/affordanything-com-small-cap-value-debate/ Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  You Can't Buy Back Your 20’s — with Jack Raines 14.08.2026 1t 20min

  #740: Jack Raines turned $6,000 into $400,000 trading blank-check stocks during the 2020–2021 bubble — and he says it was some of the least fun money he's ever made. Jack Raines is a writer and investor at Slow Ventures, and the author of the new book Young Money: A Field Guide to Wealth and Purpose in Your Twenties. In this episode, we discuss: Why "golden handcuffs" are almost always a choice, not a trap How to tell if you're staying in a job for the right reasons, or just fear Why the same decision can be exactly right at 24 and wrong at 34 What actually helps when comparison and "falling behind" turn into apathy How he turned $6,000 into $400,000 trading a stock bubble, then gave much of it back Why hitting your number rarely feels like the finish line people expect Two questions worth asking before you spend years on something that isn't working This one's for anyone who feels behind, stuck, or unsure if their current path is a smart trade-off or just fear in disguise — Jack's way of thinking about money and time might be the reset you need. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (02:00) He liked his boss on a dating app (06:57) Two very different ways to spend your twenties (17:56) Why grad school became his built-in sabbatical (19:16) Why 30 gets judged harder than 24 (34:12) The real cause of career apathy (39:20) His best fix for feeling stuck (46:27) Same decision, right at 24, wrong at 34 (01:01:43) What's really keeping you in a job you hate (01:14:12) Why more money doesn't fix stress (01:17:56) Turning $6,000 into $400,000 in a stock bubble 🔗 RESOURCES MENTIONED 👉 Take the free 10-day FiiRE money-mindset workbook: if "I make too much to quit" sounds familiar, this helps you find out if that's actually true. → https://affordanything.com/fiire 👉 Jack's new book, Young Money: A Field Guide to Wealth and Purpose in Your Twenties → https://jackraines.blog/book 👉 Nick Maggiulli's The Wealth Ladder, the six-level wealth framework Paula references → https://www.amazon.com/Wealth-Ladder-Proven-Strategies-Financial/dp/0593854039 👉 Freedom, the app Jack and Paula both use to block social media and protect focus time → https://freedom.to Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  Q&A: Should We Retire in Our 40s With $4 Million and an 80% Stock Portfolio? 11.08.2026 1t 11min

  #740: Paula and Joe rarely butt heads — but a caller's side hustle, which pulled in $5,500 in a single day, sparked their most heated disagreement in months. This week's mailbag: a couple weighing an early retirement built on $1.2 million, a wedding-dress side hustle deciding whether to go all in, and a listener whose small stock investment turned into a $25,000 tax puzzle. In this episode, we discuss: How to build a bucket strategy so you can retire early and still stay aggressive with your portfolio The real markers that tell you it's time to go back to work — not just a number How one listener turned a marketplace side hustle into a $5,500 day When to leave a stable paycheck for a growing side business, and when to wait Why a popular plan to gift a winning stock to your kids usually backfires Whether it's worth paying taxes now to raise your stock's cost basis Where a single winning stock belongs — taxable, Roth, or a solo 401(k) Whether you're weighing an early exit from a stable career, deciding if your side hustle is ready to become your main hustle, or holding a stock that's grown far beyond what you expected, this episode will help you think through the tradeoffs before you act. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (00:00) Why a winning stock can turn into a tax trap (02:23) A $1.2M portfolio and a plan to retire by 45 (07:45) Why an aggressive portfolio needs a cash cushion first (16:49) The real signal your plan isn't working (24:25) A side hustle that made $5,500 in one day (33:51) Quit now or wait — two strong arguments (39:51) The book that could save a new business (54:09) A $200 stock that grew into $25,000 (01:01:08) The tax rule that blocks gifting stock to your kids (01:12:59) A hidden tax that kicks in above $250,000 income 🔗 RESOURCES MENTIONED 👉 Grab the free Asset Location Made Simple guide to see exactly which investments belong in your taxable, Roth, and pre-tax accounts: https://affordanything.com/assetlocation 👉 Frank Vasquez's risk parity portfolio, explained in depth on episode #618: https://affordanything.com/episode618 👉 Profit First by Mike Michalowicz, the book Joe recommends for setting up your business finances the right way from day one: https://amzn.to/3Sf7Tpo 👉 Julie Wainwright's interview on the Stacking Benjamins podcast, on rebuilding after Pets.com to found The RealReal: https://www.stackingbenjamins.com/from-business-idea-to-execution-julie-wainwright-1703 Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  First Friday: We Lost 23,000 Jobs, Yet Somehow Unemployment is Down?!?! 07.08.2026 56min

  #739: The U.S. just lost 23,000 jobs — and unemployment fell anyway. The numbers were strange enough that Paula broke a years-long, all-stocks habit and bought her first bond, ever. In this month's First Friday economic roundup, Paula breaks down the jobs report, the bond market, mortgage rates, gold, and a new kind of account for kids. Topics include: How to make sense of a jobs report that seems to contradict itself What actually happens when you buy a 30-year Treasury bond Why bond yields hitting a two-decade high matters for your money Why mortgage rates are climbing again, and what that means for housing Why home prices are surging in some states while crashing in others Why gold is quietly staging a comeback What the new government-seeded kids' accounts actually do Whether you're deciding where your next dollar should go, watching mortgage rates before a purchase, or wondering if your kid needs a new account this year, this episode gives you the full economic picture in one sitting. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (00:00) Why the jobs report shocked economists this month (03:24) How jobs can drop while unemployment drops too (08:03) Why Paula just bought her first bond ever (09:35) A crash course on why bond yields are spiking (25:34) Why unemployment claims just hit a 55-year low (27:57) Why young job seekers have it harder than everyone else (35:23) Why mortgage rates just hit a one-year high (51:28) Why gold is rebounding, and who's buying it (57:47) What the new 530A investment accounts mean for your kids 🔗 RESOURCES MENTIONED 👉 Wondering which account should actually hold that bond (or gold, or index fund) you just bought? Grab our free cheat sheet showing exactly where each investment belongs: https://affordanything.com/assetlocation 👉 Chat about this episode with the community: affordanything.com/community 👉 TreasuryDirect, where Paula opened her account to buy the bond: treasurydirect.gov 👉 CME FedWatch Tool, for tracking the market's odds of a September rate hike: https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  Hackers Waited 3 Months for This Couple's $1.2 Million Deal, with Dr. Eric Cole [GREATEST HITS] 04.08.2026 1t 47min

  #738: Hackers broke into a real estate closing company's servers and waited three months for the right deal — then intercepted a wire and stole $1.2 million from a couple who did everything right, right down to the closing table. Dr. Eric Cole was a former CIA hacker, Cybersecurity Commissioner under President Obama, and longtime security advisor to Bill Gates. We're resharing this conversation, originally released in June 2025, in honor of his sudden passing this year and the practical security knowledge he left behind. In this episode, we discuss: -How to spot a phishing scam before you click the link -Why turning on two-factor authentication blocks almost every account takeover -The simple bank alert setting that can stop a fraudulent transfer -Why cybersecurity experts sometimes recommend paying a ransomware demand -How AI-cloned voices are powering a new wave of grandparent scams -What your phone's app permissions reveal about who's tracking you -Why "it won't happen to me" is exactly what scammers count on This episode is for anyone who assumes hackers only go after big companies — because the reality is scammers are counting on you to think that. You'll walk away with concrete, five-minute changes that close the gaps most people don't know they have. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (03:41) Why you're an easier target than a big bank (06:46) Why cryptocurrency theft is nearly impossible to reverse (10:59) How one password can move half your savings (17:35) The fake unpaid-toll text that's made scammers millions (21:55) Why paying the ransom is sometimes the smart move (29:05) How AI clones your kid's voice for scams (37:58) The one thing to never hand a child (54:57) Why you should mask your location online (01:16:18) The setting that blocks almost every account hack (01:18:45) The bank alert that can undo fraud fast 🔗 RESOURCES MENTIONED 👉 See your full financial picture — income, debt, safeguards, and goals — in one place with our free one-page worksheet: https://affordanything.com/cornerstone 👉 Dr. Eric Cole's firm, Secure Anchor Consulting: secure-anchor.com 👉 Signal, the encrypted messaging app Dr. Cole recommends for sensitive conversations: https://signal.org Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  She's Researched Money for 30 Years—and Never Seen It This Bad for Young People, with Beth Kobliner 31.07.2026 1t 14min

  #737: Beth Kobliner has covered personal finance for people in their 20s and 30s for over three decades — and she says this is the hardest she's ever seen it. One in four young people now believe that betting on gambling sites and prediction markets counts as investing. Beth Kobliner is a personal finance journalist and New York Times bestselling author of Get a Financial Life, who served on President Obama's Advisory Council on Financial Capability for Young Americans. In this episode, we discuss: Why unemployment for college grads is now worse than the general population Why the average first-time homebuyer is now 40 instead of 28 How tap-to-pay and neobank apps quietly drive up spending without you noticing Why so many young people believe gambling sites count as investing — and what the real odds say Whether AI is making it harder or easier for young workers to break in Why index funds still beat both active management and a lucky bet, long-term Whether college is still worth the cost in today's job market Whether you're just starting out or already feel behind, this episode makes the case for the boring, unglamorous plan over the tempting quick one — and explains why that plan still works. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (00:00) Why today's 20- and 30-somethings have it harder than any generation Beth's covered (03:04) The consumer sentiment reading that's worse than the pandemic and the Great Recession (05:14) Why record-low unemployment doesn't mean what you think for new grads (10:23) Why the median first-time homebuyer is now pushing 40 (13:36) The real reason behind the boom in crypto, sports betting, and meme stocks (15:52) The "giving up" factor economists say is driving risky bets (17:15) Why a tiny sliver of prediction-market bettors take home most of the winnings (23:26) Is the "avocado toast" spending story about young people even true? (43:44) How tapping your phone quietly makes you spend more than a credit card (01:04:13) Why financial optimism is rising in countries poorer than the U.S. 🔗 RESOURCES MENTIONED 👉 A free 10-day workbook to work through your money mindset and your next move: https://affordanything.com/fiire 👉 Get Beth Kobliner’s book Get a Financial Life: https://amzn.to/3Ty9tTJ 👉 A Random Walk Down Wall Street by Burton Malkiel, the index-fund classic Beth and Paula both referenced: https://amzn.to/4bq9IGC Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  Q&A: Would You Spend $60,000 on a Wedding Knowing It Could Be $800,000 Someday? 28.07.2026 1t 11min

  #736: A bride wants to spend $60,000 on her wedding — money that could grow to $800,000 in 40 years if she invested it instead. This week, three very different listener questions all boil down to the same fight: what the math says versus what actually makes you happy. 👉 Figure out your own money mindset — free FiiRE Playbook: https://affordanything.com/fiire This week, Paula and Joe tackle three listener questions: a professor trying to retire in 12 years while his daughter starts college, a bride wondering if $60,000 is too much to spend on love, and a couple in Luxembourg deciding whether a 1.2% fee is worth paying to keep themselves from touching their own money. In this episode, we discuss: How to know if you can retire in 12 years while your kid starts college A little-known tax-advantaged account almost nobody realizes their child can use Why a 7% return assumption isn't a "set it and forget it" number Whether a $60,000 wedding is a smart use of money — or a mistake How to decide if a big purchase is worth it before you spend the money Why paying a fee to a financial company might actually be doing you a favor How to tell a resilient money habit from a fragile one This episode is for anyone caught between what the math says and what they actually want — whether that's a wedding, a retirement date, or a fee you're tempted to cut. If you've ever done the "mathematically wrong" thing on purpose, you'll feel understood by the end of this one. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (03:36) Can this couple retire together in 12 years? (07:15) Why his college savings look thinner than expected (26:15) The two retirement levers you can actually pull (26:46) A little-known tax-free account for kids (34:18) Is a $60,000 wedding a smart money move? (41:21) The math behind what that wedding money could grow into (45:44) What every big purchase question really comes down to (57:51) Pay the fee, or invest it yourself? 🔗 RESOURCES MENTIONED 👉 Figure out your own money mindset — free FiiRE Playbook: https://affordanything.com/fiire 👉 Steve Stewart and Sean Mullaney's free webinar on ACA subsidies and the Subsidy Cliff August 4th - no RSVP needed: https://SteveStewart.me/subsidycliff 👉 Hear Paula, OG, and Jesse Cramer react to the Diary of a CEO episode on AI's future, on the Stacking Benjamins podcast: https://youtu.be/wppwRxGtFD4 Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  He Tried 30+ Side Hustles Before 3 Actually Paid Off, with Cody Berman 24.07.2026 1t 14min

  #735: Cody Berman failed at more than 30 side hustles — from a disc golf manufacturing company to sweaty bike deliveries in the Australian heat — before three of them got him to financial independence at 25. Cody is the bestselling author of Retire by 30, who reached financial independence at 25 by stacking income from real estate, digital products, and the stock market. In this episode, we discuss: How a nest-egg approach to financial independence differs from a cash-flow one A simple framework for sorting any side hustle into one of four types Why calculating real rental cash flow means more than rent minus mortgage Why the gap between what you earn and spend matters more than your returns How a failed side hustle can still hand you a skill that pays off later Why rebuilding an old idea from scratch can prove your skills weren't luck How to know when a side hustle needs more time versus when to quit Whether you're juggling five side hustles or just starting your first one, this episode will help you figure out which ones are actually worth your time — and which ones to let go of. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (00:00) Meet Cody Berman (03:27) Two paths to FI (05:51) Big piles feel scary (07:09) Cody's FI numbers (08:12) Hustling on the train (11:58) The side hustle graveyard (14:56) Four side hustle types (19:47) The rich own assets (37:17) Biking Uber Eats in Australia (44:20) Skills are future currency (45:33) AI makes doers stronger (52:36) The gap is everything (58:54) Valentine's printables pay off (1:07:54) House hacking slashes costs (1:12:45) Life after FI 🔗 RESOURCES MENTIONED 👉 Grab the free 10-day guide to figuring out which side hustle is worth building next: https://affordanything.com/fiire 👉 Retire by 30 by Cody Berman: https://amzn.to/4gwGSYm  👉 The Financial Independence Show (Cody's podcast): https://podcasts.apple.com/us/podcast/the-financial-independence-show/id1434155196 👉 The 4-Hour Workweek by Tim Ferriss: https://amzn.to/4vXfsj6 Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  Q&A: Her Brother Owns 3 Houses — Is That Why We Have a 'Housing Shortage'? 21.07.2026 1t 23min

  #734: Depending on which source you ask, the U.S. is short somewhere between 1.2 million and 10 million homes — and the reason for that wild range says as much about who's counting as it does about the shortage itself. 👉 Free cheat sheet: which investments belong in which account: https://affordanything.com/assetlocation This week, Paula and Joe tackle three listener questions: whether the housing shortage is real or a wealth-concentration problem, whether a 26-year-old should pay off his mortgage or keep investing toward financial independence, and how to simplify a portfolio spread across 13 funds. We discuss: Whether the housing shortage is real — or just wealthy people buying vacation homes Why entry-level starter homes are in shorter supply than luxury homes - A simple way to add housing supply in your area while increasing your own rental income How to simplify a $1.5 million portfolio spread across 13 funds without losing tax efficiency Which investments belong in a Roth account vs. a 401(k) vs. a taxable account Why taking a 30-year mortgage (and paying it off fast) can beat a 15-year mortgage How to decide whether to pay off a mortgage early or invest the difference instead Whether you're trying to make sense of housing headlines, tidy up a portfolio that's grown out of control, or figure out what to do with extra cash each month, this episode will help you think more clearly about the trade-offs. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (01:41) Is America's housing shortage actually real? (06:29) The real numbers behind the housing shortage (14:29) A stunning stat on building permits vs. new jobs (24:32) A simple way to add housing and earn more (28:23) A caller's plan to retire in 15 years (33:01) Which accounts should hold which investments (40:22) Why more funds can beat fewer funds (52:19) A costly bias that skews money decisions (58:46) Should a 26-year-old rush to pay off his mortgage? (1:09:04) A gut-check for choosing between two paths 🔗 RESOURCES 👉 Free cheat sheet: which investments belong in which account: https://affordanything.com/assetlocation 👉 7 Expensive Rental Property Mistakes to Avoid (free guide): https://affordanything.com/rent 👉 Practical Investing and the Efficient Frontier, with Joe Saul-Sehy: https://www.youtube.com/watch?v=Tz59b5H5puw 👉 Submit your own question for a future episode: https://affordanything.com/voicemail Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  The Hidden Math Behind Every Venture Capital Fund, with former Wharton Prof. David Bell 17.07.2026 1t 1min

  #733: Venture fund managers can collect years of fees before a single dollar comes back to investors — and the bar to hand over your money is lower than you'd think. David Bell spent 20 years as a chaired professor at Wharton before co-founding the venture firm Idea Farm Ventures, where he's backed early-stage brands like Bonobos, Warby Parker, and Jet.com. In this episode, we discuss: How venture funds actually make money, and why nearly every one runs on the same fee formula Why fund managers get paid before they've invested anything Why the bar to invest in risky private deals is lower than you'd think What to ask before trusting any fund manager with your money The one red flag that should make you think twice about an eager fund manager How some investors make an all-or-nothing bet on a single breakout company Why taking outside money can quietly change what a founder is optimizing for Whether you're weighing becoming a fund investor yourself or you're a founder deciding whether outside money is worth what it costs, this episode gives you a clearer read on how the venture world actually works. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (03:41) How venture capital actually works, in three tiers (06:09) The fee formula nearly every venture fund runs on (10:30) Why fund managers get paid before they invest anything (14:19) The surprisingly low bar to invest in risky deals (26:52) What to ask before trusting any fund manager (29:27) How investors make an all-or-nothing bet on one company (34:33) The red flag hiding in an eager fund manager (42:16) What separates a great fund manager from a mediocre one (48:10) How outside money quietly changes what a founder optimizes for (55:47) Why kids today may never remember life before AI 🔗 RESOURCES MENTIONED 👉 The free FiiRE Playbook breaks down all seven entrepreneur types — from bootstrapper to funder — so you can see which game you're actually playing: https://affordanything.com/fiire 👉 David Bell's website: https://www.davidbell.co 👉 Lost and Founder by Rand Fishkin: https://www.penguinrandomhouse.com/books/547217/lost-and-founder-by-rand-fishkin 👉 Burn Rate by Andy Dunn: https://www.penguinrandomhouse.com/books/653309/burn-rate-by-andy-dunn Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  Your Zip Code Is Quietly Deciding What You Buy, with former Wharton Prof. David Bell 14.07.2026 1t 2min

  #732: Where you live is already deciding what you'll buy today, before you've even made up your mind. And it turns out the customers your local stores ignore completely are often a brand's most valuable ones. David Bell spent twenty years as a Wharton marketing professor before becoming one of the earliest investors in Warby Parker, Bonobos, and Diapers.com. He's now co-founder of the consumer venture studio Idea Farm Ventures. In this episode, we discuss: Why the same person makes different purchases depending on where they live How four college students' "nutty idea" became Warby Parker Why the customers your local store ignores can become your best customers Why a failed meal-kit startup accidentally proved a rule about demand How a founder turned a boring hand sanitizer into a ten-dollar status symbol Why AI can now replicate a $100,000 market research study for almost nothing This episode is for anyone building — or dreaming of building — their own brand, product, or side hustle, and who wants to understand why people really open their wallets. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (00:00) Introduction: the invisible forces behind your spending (02:08) From Wharton professor to venture capitalist: meet David Bell (07:32) The Warby Parker origin story: born in office hours (11:27) The "preference minority": why location shapes what you buy (23:12) Beyond necessities: targeting discretionary spending online (31:00) Getting creative offline: postal routes, school buses, and neighborhood showrooms (43:37) Where AI actually fits into consumer innovation (50:49) Touchland: how a "boring" category became a status symbol (55:13) Building a business — and an AI board of directors — from scratch (57:32) Recap: three key takeaways, and what's coming Friday  🔗 RESOURCES MENTIONED 👉 Not sure which kind of entrepreneur you are? Our free 10-day guide helps you find your path — and add the emotional layer that makes people pay more: https://affordanything.com/fiire 👉 David Bell's work at Idea Farm Ventures: https://www.davidbell.co 👉 David Bell's book, Location Is (Still) Everything: https://amzn.to/4aUO3Gh 👉 Touchland, the hand sanitizer brand: https://touchland.com👉 Brad Stone book The Everything Store - Jeff Bezos and the Age of Amazon https://amzn.to/4w6ZT8I Share this episode with a friend, colleagues, and your mailman: https://affordanything.com/episode732 Learn more about your ad choices. Visit podcastchoices.com/adchoices
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  Is AI Making You Dumber? With Lorraine Marchand 10.07.2026 1t 16min

  #731: What if the best way to test a new hire wasn't a resume, but a two-hour breakfast? One CEO built his entire hiring process around it — and it worked. Lorraine Marchand spent three decades in leadership roles at companies like IBM, Bristol-Myers Squibb, and LabCorp, and interviewed more than 120 CEOs for her book on what actually makes teams innovate. Now she teaches at Wharton and Columbia Business School, and in this episode she joins Paula to share what really works. In this episode, we discuss: How one CEO used a casual team breakfast to test whether a new hire was the right fit before they came on board A simple three-question test to figure out if a bad job culture is fixable, or if it's time to start looking elsewhere Why a weekly 30-minute habit of talking about what's not working can make a team stronger How to network your way into opportunities early in your career, even if you're worried AI will replace you first What new research on memory loss and heavy AI use means for how you should be using these tools How to protect your job in your 50s and 60s as companies push AI adoption on everyone Where Marchand thinks the next wave of entrepreneurial opportunity is actually hiding (hint: it's not another app) Whether you're building a team from scratch, trying to decide if a toxic job is worth fixing, or just trying to use AI without losing your edge, this episode gives you practical takeaways you can put to use right away. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (02:00) – The team breakfast test: how one CEO used a shared meal to hire the right people (17:38) Should you try to fix a bad culture, or start looking for a new job? (26:29) Why people follow good bosses, not companies (28:26) Networking advice for people early in their career (30:25) What heavy AI use might be doing to your memory and thinking (31:06) AI job displacement and the skills worth building now (50:56) Using AI as a thought partner to build emotional intelligence (58:23) Advice for workers in their 50s and 60s worried about AI and ageism (1:06:00) Building a team of humans and AI "agents" — including an AI board of directors (1:14:43) Where Marchand sees the next wave of entrepreneurship and innovation heading 🔗 RESOURCES MENTIONED THE SIMPLE THREE-STEP PROCESS THAT CHANGES HOW YOU THINK ABOUT EVERYTHING 👉https://affordanything.com/turnitaround  Landit – The AI-powered interview and communication prep tool mentioned in the episode 👉 https://www.landitinterview.ai/ Lorraine Marchand's website 👉 https://www.lorrainemarchand.com/ Learn more about your ad choices. Visit podcastchoices.com/adchoices