Afford Anything | Make Smart Money Choices
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 o...
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First Friday: Jobs Are Up. So Why Does the Economy Feel Worse?
<p>#703: April’s jobs report comes in much stronger than expected, with 178,000 jobs added and unemployment ticking down to 4.3 percent. That headline deserves a closer look, especially when other labor data still points to a slower, lower-hiring environment.<br>From there, we break down what the latest Fed decision means, why mortgage rates remain elevated, and how a sudden spike in oil and gas prices could affect inflation, consumer sentiment, and the broader economy. We also cover recent market volatility and why long-term investors may want to think differently about short-term swings.</p> <p><br>In the second half: News in...
Q&A: Why 3 Years Is a Weird Timeline for Money
<p>#702: Olivia is saving for a specific three-year goal and wants to know whether a money market fund is the right place to store that cash, or if a traditional savings account would be safer.<br></p> <p>Robert is planning to retire early in the next few years and is trying to decide whether to prioritize building taxable investments or continuing to grow Roth accounts.<br></p> <p>And finally, we’ll hear from a listener with nearly 30 years of experience in social work who wants to open an adult day center in a rural area where services for di...
What Retirement Planning Gets Wrong, with Jamie Hopkins
<p>#701: Forget the idea that you need a magic number to retire. </p> <p>Jamie Hopkins is a certified financial planner, professor of taxation at the American College of Financial Services, director of the New York Life Center for Retirement Income, and Top 40 Under 40 financial services professionals from InvestmentNews. </p> <p>His take on retirement planning will make you rethink a few things.</p> <p>We start with the "no magic number" concept. Hopkins explains that fixating on a savings target - whether it's $1 million or $10 million - misses the point. </p> <p>What matters is what income you can...
Q&A: A $30K Promotion Near FI, Learning Put Options, and Scaling a 16-Unit Portfolio
<p>#700: Today we’re tackling three different financial questions from our listeners.</p> <p>First, we’ll hear from Melanie, who is deciding whether to pursue a promotion that would increase her salary by $30,000 but may add more stress, even though she’s already close to financial independence.</p> <p>Next, Ami wants to learn how options trading works and is wondering how to find legitimate training without falling into expensive or questionable courses.</p> <p>And later in the episode, we’ll revisit Ben who called in six years ago asking how to grow from four rental units to twenty...
Nir Eyal: The Four Questions That Can Change Any Belief
<p>#699: You've probably heard that mindset matters. But what does that actually mean, and is there science behind it? </p> <p><br></p> <p>Nir Eyal, author of Beyond Belief, joins us to break down the research.</p> <p><br></p> <p>Eyal, who writes about the intersection between psychology and technology and taught at Stanford Graduate School of Business, opens with a counterintuitive claim: </p> <p><br></p> <p>Motivation has nothing to do with rewards, he says. </p> <p><br></p> <p>All motivation, he argues, stems from the desire to escape discomfort. That means money management, time...
Q&A: Should You Pause Retirement to Buy a Bigger Home?
<p>#698: We explore financial decision-making at different stages of life:</p> <p>A high-earning federal couple debates whether to pause retirement contributions to accelerate a $200,000 down payment.A part-time healthcare provider seeks clarity on balancing a 401k and a traditional IRA.And a longtime listener asks a more personal question: Is there anything we’re still figuring out ourselves?</p> <p>We examine strategy, trade-offs, tax efficiency, housing decisions, and the long-term thinking that shapes financial outcomes.</p> <p>(01:36) Hannah and her husband are in their mid-30s with two young children, and are hoping to upgrade to a larger “fore...
Bill Gurley: The Biggest Career Regret Most People Have
<p>#697: Most people regret the things they never tried.</p> <p>Venture capitalist Bill Gurley says that pattern shows up again and again in research on end-of-life regrets — including regret about the careers people never pursued. </p> <p>In this episode, Gurley joins us to talk about how people actually discover work they enjoy - and why the cliché to “follow your passion” sends people in the wrong direction.</p> <p>We start with a question many listeners wrestle with: what if you reach your forties or fifties and still do not know what you want to do? </p> <p>Gurley ex...
Q&A: Should Your Emergency Fund Be Invested?
<p>#696: </p> <p>(01:50) Jeremy has been a careful budgeter for years, but a surprise car repair has him tapping his emergency fund. With rates falling, he’s wondering if cash is enough or if he should try bonds or a CD ladder to keep up with inflation.</p> <p>(22:22) A listener in Canada has a DIY portfolio but is tempted by Dimensional Funds, which requires a pricey advisor. At the same time, she’s thinking about leaving work and returning to school, but also wants to keep financially supporting her parents.</p> <p>(41:27) Anonymous is navigating the tricky waters of buyi...
First Friday: Jobs Fell by 92,000. But the Economy Is Still Growing?
<p>#695: The U.S. lost 92,000 jobs in February, pushing unemployment to 4.4 percent.<br>That result contradicts a different report released two days earlier showing 63,000 jobs added, leaving economists trying to square the circle. Many agree that we're in a "low hire, low fire" jobs environment.<br>We walk through several major economic stories using a three-layer framework: the household economy, markets and policy, and long-term forces shaping the future.<br>First, the household layer. Hiring has become uneven across sectors. Health care and education previously drove much of the job growth, but layoffs in those areas now appear in the...
Job Titles Don’t Mean What They Used To (And That Affects Your Pay) — with Dr. Ben Zweig (Part 2 of 2)
<p>#694: There are about 90 million unique job titles in the U.S. labor market.</p> <p>Ninety million.</p> <p>If you are trying to negotiate a raise, switch companies or launch a side hustle, that number has consequences. </p> <p>If titles do not line up, you cannot easily compare pay, scope or seniority. You might be doing the same work as someone with a higher title and higher salary - and never see it.</p> <p>That problem is the focus of Part 2 of our conversation with Dr. Ben Zweig.</p> <p>Zweig is the CEO of Revelio...
