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Real and uncensored. Hosts Paula Pant and J. Money dive into chasing the dream and creating financial independence. They rap about net worth, investing, real estate, killing debt, budgeting, business, entrepreneurship, saving money and how to be a hustler. Grab a beer, put your spreadsheets away, and get ready to retire early.

Real and uncensored. Hosts Paula Pant and J. Money dive into chasing the dream and creating financial independence. They rap about net worth, investing, real estate, killing debt, budgeting, business, entrepreneurship, saving money and how to be a hustler. Grab a beer, put your spreadsheets away, and get ready to retire early.
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Location:

United States

Description:

Real and uncensored. Hosts Paula Pant and J. Money dive into chasing the dream and creating financial independence. They rap about net worth, investing, real estate, killing debt, budgeting, business, entrepreneurship, saving money and how to be a hustler. Grab a beer, put your spreadsheets away, and get ready to retire early.

Language:

English


Episodes

#145: How I Paid Off $500,000 in Credit Card Debt, then Launched a Company with $35 Million in Annual Revenue -- with Rand Fishkin, Founder of Moz

8/13/2018
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When Rand Fishkin was 25 years old, he carried $500,000 in credit card debt. Less than a decade later, Rand was the Founder and CEO of a company that grossed $35 million in annual revenue. In this podcast episode, Rand shares the story of hitting his financial rock-bottom and making the ultimate comeback. _______ The saga began in 2001, when then-22-year-old Rand dropped out of his senior year of college to grow a business with his mom. His mom Gillian owned a small marketing company...

Duration:01:07:49

#144: Ask Paula - What Do You Think of Real Estate Crowdfunding?

8/6/2018
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Today I’m answering your real estate questions! First up, Rich asks: What are your thoughts on real estate crowdfunding versus investing in a traditional REIT and non-retirement account? He doesn’t want to give up the time it takes to manage a rental property. He wants to spend more time with family and friends, and his eventual goal is to generate enough passive income to transition into becoming a social worker. Rob asks: As a real estate investor who also invests in index funds,...

Duration:00:44:34

#143: Life After Financial Independence - with millionaire investor Emma Pattee

8/3/2018
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Emma Pattee became a millionaire at age 26. But she hates it when I describe her like that. Here are other ways that Emma would prefer to be known: She's thoughtful. She's hilarious. She's kind. Emma is the child of hippies. She grew up in a tent in Oregon, at least for a portion of her childhood. She has a BFA in writing from Emerson College. She bought her first house at age 21. At the time, Emma was juggling a demanding full-time job with her ambitions of becoming a writer. This...

Duration:00:52:19

#142: How Can We Downsize from Two Incomes to One?

7/30/2018
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How can a family of four shift from earning two incomes to one, while still pursuing financial independence? How would a 55-year-old couple with $2 million saved know if they're ready to retire? Can parents use leftover money in their 529 plan to help their daughter with her college loans? If you start a job with an employer who doesn't offer high-deductible, HSA-compatible health insurance plans, could you use a plan from your old boss? And where should a father keep his daughter's...

Duration:00:57:16

#141: The Gap Between Knowing and Doing - with Dr. Stephen Wendel from Morningstar

7/23/2018
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"I'll get around to rolling over my 401k ... next week." "Eventually I'll switch to a cheaper insurance plan." "I really should move my portfolio into lower-fee funds." "Yeah, yeah, I know I should create an estate plan. I'll do it later." ____ We know how to improve our financial lives. We know what steps we ought to take. I'm betting that everyone reading this can name at least one action, big or small, that you could take to improve your net worth. But we don't follow...

Duration:01:13:14

#140: Ask Paula - Should I Buy a Rental Property with an HOA?

7/16/2018
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Should you buy a rental property that mandates HOA payments? How do you adjust for cap rate over the years, as the property's rent increases with inflation? Should you buy an $88,500 house that rents for $1,250 a month? And can you dive into detail about how you work with contractors and property managers? I answer these four questions in today's Ask Paula episode, themed around real estate investing. Daria asks: My husband and I live in Charlotte, North Carolina. I've been looking at...

Duration:00:54:59

#139: How I Save Half of My Income as a Firefighter, While Living in an Expensive City -- with Kim E.

7/9/2018
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Five years ago, at age 29, Kim E. started her first professional, salaried full-time job, working as a firefighter for the City of Austin, Texas. She received a starting salary of $42,000. Today, five years later, she has saved: - one year's salary ($40,000) in an emergency fund - one year's salary ($42,000) in a workplace retirement fund - more than half a year's salary ($27,500) in a Roth IRA She also paid off her student loans ($10,000), paid off her car loan (roughly around...

Duration:01:15:14

#138: How to Create an Authentic Life

7/6/2018
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There’s a famous quote that’s attributed to Henry Ford. The quote says, “If I had asked people what they wanted, they would have said faster horses.”⠀ ⠀ There’s no proof that Henry Ford actually said this. But whether or not that quote is historically accurate, the point remains. If Elon Musk had asked people what they wanted, they would have said a car with better gas mileage.⠀ ⠀ But Elon never bothered asking. Because he knows you cannot change history from the middle of the bell...

Duration:00:50:39

#137: Ask Paula: What the F**k are Annuities?

7/2/2018
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Today's episode is an annuity sandwich: we answer one question about family and relationships, three questions about annuities, and one question about time management. My friend and former financial planner Joe Saul-Sehy joins me to answer questions in what, I hope, is the most entertaining episode about annuities you'll hear. Here are the five questions that we'll tackle today. Anonymous asks: I didn't grow up with much money, and my father recently went into bankruptcy. I've worked...

Duration:01:13:32

#136: How I Bought 20 Houses, Debt-Free, While Serving Overseas in the Military - with Rich Carey

6/25/2018
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Rich Carey is a military millionaire. He's spent his career in the U.S. Air Force; he's currently stationed in Seoul, South Korea. He was stationed in Germany before this. He'll retire after this. Most of his fellow servicemembers, upon taking a military retirement, start a second career. But Rich doesn't need to. He's financially independent, thanks to his 20 rental properties. He bought most of these properties while stationed overseas. He's renovated them from afar. And he's bought...

Duration:01:15:59

#135: Ask Paula - How Can I Get a Downpayment for a Rental Property?

6/18/2018
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Time to talk about houses! I answer your questions about rental property investing in this week's episode. Our first question comes from James, age 25. He lives in Florida, where he bought a $130,000, 3-bedroom, 2-bath condominium in the Class B range as his primary residence. He'd like to buy a second home and rent out his current home. He has $4,000 in cash and is eligible to take out $5,000 as a home equity line of credit. He makes $41,000 per year, after taxes. He'd like to buy one...

Duration:00:54:13

#134: How Radical Curiosity Leads to Innovation in Life and Work - with Shane Snow, founder of Contently

6/11/2018
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We often peek inside the world of business to look for lessons about how to simplify, optimize and innovate. But what can we learn when we examine world-class people who are hacking the system in any field -- including sports, politics and music? What can we learn when we're radically curious about everything? And how can we apply this knowledge to helping us lead more deliberate, curated lives? Today, we tap Shane Snow's brain for answers. Shane Snow is a co-founder of Contently, a...

Duration:01:14:49

#133: Ask Paula and Joe -- How to Give More to Charity While Also Building Financial Independence

6/4/2018
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Andy from Michigan loved the episode with charity:water founder Scott Harrison. After the episode, he and his 6-year-old daughter started watching videos about charity:water, and now they're both inspired to give. Andy's question is on the topic of giving. His is to reach financial independence within 5 to 10 years. He and his wife are debt-free, including mortgage-free, and their retirement accounts are well-fueled. Now they're working on building passive income. In the meantime, though,...

Duration:00:57:19

#132: Ask Paula - I'm Six Years Away From Financial Independence, But I Want to Quit Now

6/1/2018
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BONUS EPISODE!! On the first Friday of the month for the remainder of the year, I'm rolling out an additional bonus episode. As you know, this podcast airs weekly on Mondays. I'm thinking about maybe -- MAYBE -- expanding the podcast to twice-a-week. Maybe. But before I make such a big commitment, I figured I'd test the waters by producing *one* extra episode per month. I'll release this on the first Friday of every month for the rest of 2018. Today's episode is the June 2018 First...

Duration:00:36:30

#131: How We Slashed Our Costs 70 Percent and Gained Happiness -- with Scott Rieckens

5/28/2018
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Scott Rieckens and his wife Taylor enjoyed a classic Southern California lifestyle. They lived near a gorgeous beach in sunny San Diego. They frequently dined at sushi restaurants. They drove a BMW. But after the birth of their daughter, everything changed. Taylor, an intelligent, career-driven, independent woman, suddenly didn't want to spend any time away from her new baby girl. And Scott had no idea what to do. Their luxury lifestyle depended on dual incomes. At first, he tried to...

Duration:01:10:39

#130: Ask Paula - Should I Sell Stocks to Buy a Rental Property

5/21/2018
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Anna and Dave want to get married ... eventually. But they want to buy a rental property together first. How should they approach this from a paperwork/legal structure standpoint? Note: They're thinking about having one partner purchase the home, with the other partner acting as a lender (with proper paperwork in place). Would this be a wise approach? Fred lives in Saskatchewan, Canada and owns two duplexes. He's thinking of buying rental properties in the U.S., and he has 4 questions: -...

Duration:00:58:43

#129: How I Paid Off Thousands in Credit Card Debt - with Laura Adams, from Money Girl Podcast

5/14/2018
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Laura Adams grew up in an upper-middle-class family in South Carolina, and her parents supported her through college. She attended her top-choice school, met her husband while they were still students, and enjoyed a charmed life. When she graduated, she continued to live at a lifestyle to which she felt accustomed. She rented a beautiful apartment. She took vacations. When she felt lonely, she comforted herself with shopping sprees. Unfortunately, her spending habits weren't aligned with...

Duration:00:56:59

#127: Four Unhealthy Attitudes Towards Money -- with Dr. Brad Klontz, Financial Therapist

4/30/2018
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Most people know what they “should” do — save for the future. Spend less than they earn. Why do so few people follow through? The answer may have less to do with tactics, and more to do with a person’s deep-seated beliefs, fears and anxieties around money. Your income, debt, and spending habits aren't merely a function of your actions. They're a reflection of your deep-seated inner psychology around money. Dr. Brad Klontz, a clinical psychologist and financial planner, joins me on...

Duration:01:06:19

#126: Ask Paula - Should I Buy a Beachfront Rental Property?

4/23/2018
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It's time to answer real estate investing questions! Tom asks: "We're thinking about buying a duplex on a beach in a popular vacation destination in Florida. If the property stays 85 percent occupied as a short-term (VRBO) rental at current rates, the income from one unit of the duplex could cover the costs of a 30-year mortgage. "But if a recession hits, Florida real estate might tank. The rental rates or occupancy could drop. And we'd be stuck paying the mortgage out-of-pocket, which...

Duration:01:04:03

#125: Morgan Housel has spent thousands of hours reading about investing

4/16/2018
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As a former columnist for the Wall Street Journal and The Motley Fool, he's spent more than a decade reading, interviewing, thinking and writing about how to manage money. And he's come to a simple conclusion: less is more. Doing nothing is often the best course of action. Patience, humility and long-term thinking give individual investors a massive competitive edge over major institutions. The classic strategy of dollar-cost averaging into index funds is a smart approach. And...

Duration:01:01:59