Afford Anything podcast

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1:03:38

Too many entrepreneurs get stuck on the business treadmill, hustling nonstop, unable to scale, and unknowingly stalling their growth. That’s where Dave Ramsey began. After crashing into $3 million in debt, he rebuilt from scratch, turning a small radio program into a national show with millions of listeners. With over three decades of experience in entrepreneurship, business growth, and content creation, he knows what it takes to build a lasting business. In this episode, Dave reveals the six drivers of long-term success, the five key stages of startup growth, and how he balances life as an entrepreneur and a content creator. In this episode, Hala and Dave will discuss: (00:00) Introduction (00:23) The Core Principles of Financial Freedom (05:42) Adapting to Change as a Content Creator (09:22) Balancing Content Creation and Entrepreneurship (12:34) How to Create a Clear Path in Business (15:19) The Truth About Starting a Business Today (18:22) The Six Drivers of Business Success (26:20) Shifting From Tactical to Strategic Thinking (29:44) The Five Stages of Business Growth (41:10) Leading with Care, Clarity, and Accountability (47:10) Identifying the Right Leadership Skills (48:35) Starting a Media Business as an Entrepreneur Dave Ramsey is a personal finance expert, radio personality, bestselling author, and the founder and CEO of Ramsey Solutions. Over the past three decades, he has built a legacy of helping millions achieve financial freedom. As the host of The Ramsey Show , Dave reaches more than 18 million listeners each week. He is the author of eight national bestselling books. His latest, Build a Business You Love , helps entrepreneurs navigate growth and overcome challenges at every stage. Sponsored By: Shopify - Sign up for a one-dollar-per-month trial period at youngandprofiting.co/shopify OpenPhone: Streamline and scale your customer communications with OpenPhone. Get 20% off your first 6 months at openphone.com/profiting Airbnb - Find yourself a co-host at airbnb.com/host Indeed - Get a $75 sponsored job credit at indeed.com/profiting RobinHood - Receive your 3% boost on annual IRA contributions, sign up at robinhood.com/gold Factor - Get 50% off your first box plus free shipping at factormeals.com/factorpodcast Rakuten - Save while shopping at rakuten.com Microsoft Teams - Stop paying for tools. Get everything you need, for free at aka.ms/profiting LinkedIn Marketing Solutions - Get a $100 credit on your next campaign at linkedin.com/profiting Resources Mentioned: Dave’s Book, Build a Business You Love: bit.ly/BuildaBusinessYouLove Dave’s Website: ramseysolutions.com Active Deals - youngandprofiting.com/deals Key YAP Links Reviews - ratethispodcast.com/yap Youtube - youtube.com/c/YoungandProfiting LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ Social + Podcast Services: yapmedia.com Transcripts - youngandprofiting.com/episodes-new Entrepreneurship, Entrepreneurship Podcast, Business, Business Podcast, Self Improvement, Self-Improvement, Personal Development, Starting a Business, Strategy, Investing, Sales, Selling, Psychology, Productivity, Entrepreneurs, AI, Artificial Intelligence, Technology, Marketing, Negotiation, Money, Finance, Side Hustle, Mental Health, Career, Leadership, Mindset, Health, Growth Mindset, Side Hustle, Passive Income, Online Business, Solopreneur, Networking.…

Afford Anything

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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.

674 episódios

Afford Anything

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674 episódios

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Afford Anything

1
The Surprising Science of Six-Figure Thinking 1:06:00

há 15 hours1:06:00

1:06:00

#602: Ever looked back at an old Facebook post and cringed? According to Olga Khazan, staff writer at The Atlantic, that discomfort is evidence of something powerful: your personality has changed, even if you didn't notice it happening. In our latest episode, Khazan, who recently wrote a book on the science of personality change, breaks down how our personalities aren't fixed traits but flexible characteristics we can intentionally shift to achieve our goals. The conversation centers on the "Big Five" personality traits — Openness, Conscientiousness, Extraversion, Agreeableness and Neuroticism (OCEAN) — and how they impact financial success and career advancement. If you work a regular 9-to-5, personality development can boost your career trajectory. Khazan highlights that conscientiousness — being organized, timely and detail-oriented — directly correlates with workplace success. She suggests decluttering both your physical space and your commitments to increase productivity. For introverts navigating office politics, she recommends "cosplaying as an extrovert" by signing up for regular group activities that are hard to back out of. Over time, social interactions become less draining, creating more opportunities for advancement. And when engaging with colleagues, focus on asking meaningful questions about their experiences rather than collecting basic facts — this builds genuine connections that can lead to promotions and new opportunities. If you’re intimidated by new financial ventures like entrepreneurship or real estate investing, Khazan suggests learning from others who've succeeded in similar situations. Research shows you're more likely to implement strategies when you learn them from peers rather than experts. When discussing successful entrepreneurs, Khazan reveals they typically share three key traits: high extraversion (energy for interacting with others), low agreeableness (ability to make tough decisions), and low neuroticism (emotional stability for risk-taking). Think Steve Jobs — not always the nicest person, but his combination of vision, decisiveness and comfort with risk built one of the world's most valuable companies. The most important takeaway? Never tell yourself you can't do something because "that's just not who you are." Instead, take small daily steps toward your goal, and you'll gradually develop the personality traits needed for success. 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) "The Surprising Science of Six-Figure Thinking" (1:16) What is personality - behaviors that help meet goals (2:24) Personalities change over time (3:34) Personality impacts success (4:12) OCEAN - the Big Five traits explained (5:48) Origins of personality research (8:20) Changing personality intentionally (9:52) Low vs high openness traits (12:05) Increasing openness gradually (15:36) Boosting conscientiousness strategies (23:09) Time management techniques (30:31) Extraversion benefits careers (33:19) Introvert's guide to social skills (37:25) Healthy boundaries, not people-pleasing (46:06) Meaningful conversations build connections (51:16) Reducing anxiety with mindfulness (56:52) CEO traits - extroverted, disagreeable, emotionally stable Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Afford Anything

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Q&A: The Stock Market Sucks. Is Private Equity Any Better? 56:53

há 4 dias56:53

56:53

#601: Nick and his wife have $100,000 to invest, but they’re worried about the volatility of the current stock market. Should they look into alternative investments such as private equity? Even though Roth IRAs come with tax-free withdrawals in retirement, Josh is worried about his tax bracket going up and neutralizing the benefits. Is he right to be concerned? The retirement portion of Cindy’s financial three-legged stool is set, and she’s now focused on her taxable brokerage. What investment strategy will allow her to be work optional in 10 years? Former financial planner Joe Saul-Sehy and I tackle these questions in today’s episode. Enjoy! P.S. Got a Question? Leave it at https://affordanything.com/voicemail Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Afford Anything

1
Mini-Retirements Are the New Early Retirement – with Mom of Six, Jillian Johnsrud 1:43:09

há 8 dias1:43:09

1:43:09

#600: Jillian Johnsrud was falling apart. After suffering a miscarriage, she couldn't pull herself together to return to her job as a youth pastor in DC. She decided to take a month off. That unexpected break became Jillian's first "mini-retirement" — a deliberate step away from work for at least 30 days to focus on something meaningful. Today, Jillian is a mom of six who has taken more than a dozen mini-retirements with her kids, who currently range in age from 8 to 17. During her first mini-retirement, she and her best friend piled into her green Honda Civic and drove from DC to Seattle, leaving her 13-year-old son Micah at home with her husband. A couple years later, Jillian took Micah, then 15, to Glacier National Park in Montana for another mini-retirement. They saw mountain goats, kayaked together, and swam in ice-cold waters. This trip created irreplaceable memories. Sadly, Micah died six years later. His death changed how Jillian sees time. She now understands that meaningful moments don't wait for perfect timing - they either happen now or vanish forever. Waiting for "someday" might mean missing chances forever. This drives her philosophy about mini retirements — life contains fleeting seasons that we either embrace now or miss entirely. "To be able to share those memories with him there is priceless," Jillian tells us. This understanding shapes her approach with her other children too. From a 10-week road trip to 10 national parks in a pop-up camper to a recent six-month journey across the eastern United States with her five younger children (now ages 8-17), Jillian prioritizes experiences that fit each season of family life. Planning your own mini retirement? Jillian recommends focusing on four key areas: managing your time (pick just 2-3 priorities), addressing career logistics (craft a compelling story for your employer), saving money (about 6.5 percent of your income for a month off every other year), and preparing for emotional revelations. Jillian emphasizes the importance of separating your mini retirement fund from long-term retirement savings. This separate fund, which she calls the "in-between bucket," allows you to spend freely on experiences now rather than postponing all enjoyment until traditional retirement age. As Jillian puts it: "You can't postpone every good thing in your life." 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 to mini-retirements (0:59) Definition of mini-retirement: stepping away from work for 30+ days to focus on something meaningful (3:03) Jillian shares her first mini-retirement story after experiencing personal loss (8:28) Taking time off to enjoy important life moments before they pass (12:12) Jillian's trip to Glacier National Park with her son Micah before he passed away (20:33) Four components of planning a mini-retirement: time, career, finances, unexpected challenges (34:14) Time management: choosing 2-3 clear goals rather than trying to do everything (42:39) Career strategies: how to present your mini-retirement to employers (1:01:29) Financial planning: saving 6.5% of income for monthly breaks every other year (1:14:34) Handling unexpected challenges that arise during your time off (1:20:01) How mini-retirements reveal personal issues you've avoided through work (1:33:32) Jillian's recent family adventures with five children Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Afford Anything

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Q&A: Retirement Math That Actually Works; Cashing In on the World Cup; and Why Your Parents' Housing Advice Is Wrong 1:18:07

há 11 dias1:18:07

1:18:07

#599: Becky and her husband are about to semi-retire. But the four percent retirement withdrawal rule doesn’t make sense for them. Are there other financial frameworks they should explore? Kris is excited about a potential boost in local real estate values when the World Cup comes to town. Will this have any significant impacts on his property? Peyton’s parents are pressuring her to buy a house, but she’s worried this will cripple her early retirement goals. Is she right to be concerned? Former financial planner Joe Saul-Sehy and I tackle these questions in today’s episode. Enjoy! P.S. Got a question? Leave it here (https://affordanything.com/voicemail) For more information, visit the show notes at https://affordanything.com/episode599 Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Afford Anything

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Tax Strategies You Might Be Missing, with Natalie Kolodij 1:31:42

há 15 dias1:31:42

1:31:42

#598: Tax day is approaching, and if you're like most people, you might be overlooking deductions that could save you money. In our latest podcast episode, tax strategist Natalie Kolodij joins us to reveal common tax misconceptions and share strategies that could potentially lower your tax bill. "The tax code is 70,000 pages," Natalie explains. "There's so much. So I really like to have people focus on a handful of things to be mindful of." For W-2 employees who often have fewer tax advantages, Natalie highlights several overlooked deductions. If you live in a state without income tax (like Florida or Washington), you can deduct sales tax instead — especially on major purchases. Don't forget about personal property taxes on vehicles, boats or RVs either. Medical expenses can be deductible, but only amounts exceeding 7.5 percent of your adjusted gross income. Natalie suggests consolidating elective procedures into a single tax year to maximize this benefit. Charitable deductions offer surprising opportunities too. Miles driven while volunteering, expenses from fostering animals, and even home renovation materials donated to organizations like Habitat for Humanity can all qualify. Natalie also explains how "bunching" donations in alternate years can significantly increase tax savings compared to giving the same amount annually. The interview tackles major misconceptions about selling your primary residence. While many believe living in a home for two years makes all gains tax-free, Natalie clarifies that any "non-qualified use" periods (like when it was a rental property) can still be taxable. For small business owners and real estate investors, Natalie recommends tracking all business-related expenses — even seemingly minor ones like industry-related books or educational materials. She emphasizes the importance of proper record-keeping and having separate accounts for business expenses. As we navigate tax law changes following the recent election, Natalie's advice rings true: maintain flexibility in your tax planning and consider working with professionals who specialize in your specific situation. 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) Intro to tax day discussion (2:46) Common tax savings for W-2 employees (4:12) Standard vs itemized deductions explained (5:46) Often forgotten property tax deductions (6:58) Sales tax deductions for no-income-tax states (9:06) Medical expense deduction thresholds (12:53) Charitable giving strategies and overlooked deductions (17:51) Bunching donations in alternate years (22:20) Home sale tax exclusion misconceptions (30:44) Tax withholding changes and common mistakes (44:35) Bonus payment tax myths debunked (52:52) Finding the right tax professional (1:02:02) Small business and real estate investor tips (1:09:38) Best practices for tax record keeping (1:15:14) Preparing for potential tax code changes For more information, visit the show notes at https://affordanything.com/episode598 Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Afford Anything

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Are We Heading for a Recession?, with Bob Elliott, former Head of Ray Dalio’s Investment Team at World's Largest Hedge Fund 1:27:59

há 18 dias1:27:59

1:27:59

#597: A recession is coming, and it might be worse than most people expect. That's the sobering assessment from Bob Elliott, former Head of Ray Dalio's Investment Team at Bridgewater Associates, when he joins us on the podcast. Bob explains that several economic factors are converging to create challenging conditions. The combination of current trade policies, persistent inflation issues, and a Federal Reserve that's constrained in its response is creating significant economic headwinds. Tariffs play a central role in this economic outlook. While their inflationary impact remains debatable, their growth-negative effects are more certain. When imported goods become more expensive, consumers have less money to spend on other things. This reduces demand across the entire economy. Manufacturing and reshoring aren't simple solutions either. Bob points out that building new factories takes about five years, with payback periods stretching 30 years. This timeline explains why CEOs hesitate to make such investments, especially in an environment where policies change unpredictably. This uncertainty has driven CEO confidence to its lowest levels since the 2008 financial crisis, further complicating economic prospects. For individual investors, Bob offers surprisingly straightforward advice. Despite his sophisticated background managing billions, he follows a simple personal investment strategy: dollar-cost averaging and diversification. He even limits himself to reviewing his investments just once annually — typically the Wednesday before Thanksgiving. This disciplined approach prevents overtrading and removes emotion from investment decisions — principles that apply whether you're investing regular income or handling a windfall. Throughout our conversation, Bob emphasizes that the US economy fundamentally runs on consumer spending. When policies redirect money from discretionary spending toward necessities, the effects ripple throughout the entire system. Want to hear more of Bob's insights on recession probability, investment strategy, and economic policy? Listen to the full episode now. 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) Introducing Bob Elliott, former head of Ray Dalio's investment team at Bridgewater (2:56) Bob discusses high probability of recession due to growth-negative policies (7:00) Tariffs likely growth negative in short-term despite long-term manufacturing goals (14:20) Transition from global supply chains to parallel and redundant manufacturing systems (19:50) Four economic levers: tariffs, tax policy, monetary policy, and government spending (26:15) Stock market reacts to short-term expectations despite positive long-term outlook (34:15) Bond markets performing well as growth slows; potential recession duration of 1-1.5 years (45:40) Long-term productivity growth creates wealth despite short-term volatility (53:15) Dollar-cost averaging and diversification recommended for individual investors (59:15) Bob discusses founding GiveWell to identify highest-impact charitable giving (1:11:10) Bob explains Unlimited Funds, making hedge fund strategies accessible to everyday investors For more information, visit the show notes at https://affordanything.com/episode597 Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Afford Anything

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First Friday: Tariffs Grab Headlines, But These Financial Changes Nobody Is Talking About Will Impact You Too 59:18

há 22 dias59:18

59:18

#596: Yesterday, the White House rolled out the biggest tariffs in a century, sending markets into their worst decline since the pandemic. While headlines focus on supply chains and inflation, there are important economic stories you're not hearing about. During the first half of this month's First Friday episode, we dig into what nobody's talking about. And in the second half, we grapple with the headlines. Student loan rules just changed again. The government added new limits to Public Service Loan Forgiveness. Right now, 9.2 million people — one in five borrowers — can't keep up with payments. Many folks don't even know payments started again after that four-and-a-half-year break. S&P just dropped a new report that backs what smart money already knows: index funds crush actively managed funds 90 percent of the time. Even with all those tech stocks dominating the market, you still come out ahead with simple indexing. You know who's gobbling up the mortgage market? Rocket Companies. They just bought both Redfin and Mr. Cooper. They'll handle one of every six mortgages in America. They've positioned themselves at every step of the homebuying journey — from when you search for homes on Redfin to financing and monthly payments for the next 30 years. The White House just made a surprising move with Bitcoin. They're setting up a Strategic Bitcoin Reserve to hold coins long-term. They're also creating a separate stockpile for crypto they seize in legal cases. Pretty clear signal that Bitcoin stands apart from other cryptocurrencies. In the second half, we dive into those significant new tariffs making headlines. The S&P 500 dropped 4.8 percent on Thursday — we haven't seen a drop like that since the pandemic. The new rules put at least a 10 percent tariff on everything coming into the country. Then come the "reciprocal" rates: 20 percent for European goods, 27 percent for items from India, and a combined 65 percent for Chinese imports. We bring in Bob Elliott to make sense of this situation. His credentials are impressive — he spent 13 years at Bridgewater Associates (the world's largest hedge fund), served as head of Ray Dalio's investment team, and graduated magna cum laude from Harvard. During the 2008 crisis, he directly advised the Treasury, Federal Reserve, and White House. Bob offers a reality check about bringing back manufacturing jobs: you can't build factories overnight. These investments take years, and companies hesitate to make 30-year commitments when policies change every few months. Bob breaks down four economic forces all hitting at once: tariffs jacking up prices, government cutting spending, tax policies on hold, and the Fed moving like molasses. Put them together? Yikes. He doesn't sugarcoat it — the short-term outlook looks "pretty negative." For more information, visit the show notes at https://affordanything.com/episode596 Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Afford Anything

1
Q&A: The Scary Shift from Saving to — Gulp! — Actually Spending Your Money 1:05:06

há 25 dias1:05:06

1:05:06

#595: Eva is finally closing in on her financial independence goals, but she’s grappling with how to make a smooth transition from accumulation to decumulation. What should she consider? John has noticed a game-changing omission from recent discussions about traditional versus Roth IRAs. Is this as big of a deal as he thinks it is? An anonymous caller is excited to convert his primary residence into a rental property. But he’ll only make a profit if he first sells some equities to pay down the mortgage. Is this a good idea? Former financial planner Joe Saul-Sehy and I tackle these 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/episode595 Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Afford Anything

1
How to Travel on $75 Per Day, with Nomadic Matt Kepnes 1:15:25

há 29 dias1:15:25

1:15:25

#594: Ever wonder if you could afford to travel for months at a time? According to Nomadic Matt, who's visited more than 100 countries over the last 19 years, you can see the world on just $75 a day. That's about $27,375 per year, less than many people's current cost of living. Matt Kepnes, better known as Nomadic Matt, joins us to challenge common assumptions about travel costs. He explains that long-term travel can actually be cheaper than staying home. When you're traveling, you shed many regular expenses that eat into your budget back home, like car payments, home insurance, and utility bills. The key is to "travel like you live," as Nomadic Matt puts it. This means using public transportation instead of taxis, shopping at local markets, and seeking out free activities — just like you might do in your hometown. It's not about staying at five-star resorts, but experiencing destinations authentically while keeping costs reasonable. Nomadic Matt also breaks down several travel myths. The old advice about booking flights on Tuesdays? Outdated in today's algorithmic pricing world. Using incognito mode to get better flight prices? No evidence supports this idea. He does confirm that booking round-trip flights often costs less than one-way tickets, even if you don't use the return portion. For those interested in credit card points, Nomadic Matt recommends choosing cards based on your specific travel goals rather than chasing the most popular options. Consider which airlines you use most and what perks you'll actually take advantage of. The pandemic has transformed travel in significant ways. While prices have increased and some budget travel services have disappeared, new opportunities have emerged — especially for remote workers who can now take advantage of digital nomad visas to live abroad while maintaining their income. Whether you're planning a two-week vacation or dreaming of becoming location-independent, Nomadic Matt's practical advice shows how international travel is more accessible than you might have thought. 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) Intro to Nomadic Matt and $75/day budget (1:00) Modern hostels aren't grungy anymore (3:00) Origins of the $75/day travel budget (5:00) "Travel like you live" approach saves money (8:50) Mix accommodations based on trip needs (9:40) Choose travel cards matching your specific goals (16:40) Use points before devaluation happens (20:00) Best booking times for flights (37:00) Social media's impact on global travel (42:00) Overcoming language barriers easily (48:30) Post-COVID travel costs and changes (56:20) Remote work visas for long-term travelers (1:02:40) Why travel costs less than staying home (1:05:50) How location independence evolved from unusual to mainstream For more information, visit the show notes at https://affordanything.com/episode594 Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Afford Anything

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Q&A: You Made a Money Mistake. Now What? 1:01:27

há 5 weeks1:01:27

1:01:27

#593: An anonymous caller is brooding over a mistake he made in 2023 when he decided to contribute to his Roth instead of a pre-tax account. How does he get over this? June is annoyed that she triggered short-term capital gains and wash sales when she sold assets in her taxable brokerage last year. How does she avoid these issues in the future? Zerai wants to add mid and small-cap exposure, but his 457 plan has a limited selection of mutual funds. What’s the proper way to select the best fund among the available options? Former financial planner Joe Saul-Sehy and I tackle these questions in today’s episode. Enjoy! P.S. Got a question? Leave it https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episode593 Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Afford Anything

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Why Your Brain Rewards You for Avoiding Your Boss, with Dr. Joel Salinas 1:28:41

há 5 weeks1:28:41

1:28:41

#592: Ever wonder what's happening in your brain right before you knock on your boss's door to ask for a raise? Dr. Joel Salinas, neurologist and brain health expert, joins us to explain the neurology of negotiation. When you avoid difficult conversations, your brain actually rewards you with a small dopamine hit. That temporary relief feels good, reinforcing the avoidance behavior. But Dr. Salinas explains this creates a problematic loop: the more you avoid conflict, the more uncomfortable it becomes when you face it. Breaking this cycle starts with a simple but powerful step: taking a breath. A long, slow exhale activates the more deliberative parts of your brain, helping you move beyond knee-jerk reactions. Dr. Salinas suggests focusing on what he calls the "Bigger Better Offer" — the meaningful reward that comes from pushing through discomfort. Thinking about what happens if you don't ask for that raise (struggling to pay bills, missing career advancement) can motivate you to overcome avoidance tendencies. Beyond workplace conflicts, we explore fascinating brain facts: Your brain constructs reality like "one great big hallucination" Neural pathways that fire together wire together Conflict isn't a sign of failure — it's actually necessary for authentic connection Want to boost your brain health? Dr. Salinas recommends regular exercise, brain-healthy foods like leafy greens and berries, quality sleep, supportive social connections, and challenging yourself with new skills. The conversation meanders through various aspects of brain function — from why humans are visual creatures to how trauma impacts neural pathways — all explained in accessible, engaging terms. Whether you're looking to have difficult conversations more effectively or simply curious about the remarkable three-pound organ controlling your reality, this episode offers practical insights into the science of your mind. 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) Intro (3:00) What happens in your brain when asking for a raise (6:30) How negativity bias shapes interactions with authority figures (10:41) The "Bigger Better Offer" technique for breaking behavioral loops (19:22) Why avoiding conflict creates reward pathways in the brain (29:12) Training your brain to tolerate disagreement (34:52) How salience and valence affect what we perceive as conflict (40:42) The role of internal conflict in decision-making (55:08) Understanding the structure and functions of different brain regions (1:00:53) Why imagination of possibility matters for breaking rumination cycles (1:06:45) How challenging our brain creates new neural pathways (1:11:42) Five key behaviors that improve long-term brain health (1:17:03) Brain plasticity and how it changes throughout our lifetime (1:22:51) Resources for learning more about conflict resilience For more information, visit the show notes at https://affordanything.com/episode592 Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Afford Anything

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The Hidden Tax of Avoiding Tough Conversations, with Harvard Law Senior Fellow Bob Bordone 1:49:23

há 6 weeks1:49:23

1:49:23

#591: Imagine you're about to ask your boss for a raise. Your stomach tightens. You've rehearsed what to say, but doubt creeps in. Should you be more assertive? More understanding of company constraints? Bob Bordone, who has taught negotiation for 25 years including 21 years at Harvard Law School, joins us to explain why you don't have to choose between empathy and assertiveness. In fact, combining them is key to successful negotiations. "It might feel like a tension, but it's not an actual one," Bordone explains. "I can fully appreciate what you're feeling without ever giving anything up in a negotiation." Bordone breaks down his three-part preparation framework: Mirror work : Identify the different sides of yourself in a negotiation — the empathic side that understands company constraints, the assertive side that knows you deserve recognition, and perhaps an anxious side worried about finances. Chair work : Give each side a voice through role-playing exercises, literally sitting in different chairs to embody each perspective. Table work : Bring these voices into the actual negotiation in an authentic way that doesn't make the other person feel attacked. He also introduces fascinating concepts like "conflict recognition" — how quickly we perceive something as a conflict — and "conflict holding" — our comfort with leaving conflicts unresolved. These differences often cause relationship problems when we're unaware of them. "My best friend and I might debate over Flaming Hot Cheetos for 25 minutes. For me, with high conflict recognition, it's completely fun. I go home and sleep like a baby," Bordone says. "For someone with low conflict recognition, they might think, 'That was horrible. Did I hurt the relationship?'" When someone tries to shut down your request with policy ("that's just how we do things here"), Bordone recommends what he calls the "Wizard of Oz tactic" — asking a few more questions rather than immediately accepting defeat. The skills you develop asking for a raise transfer to other challenging conversations — from family inheritance discussions to political disagreements with colleagues. Bordone emphasizes that conflict isn't something to avoid but rather a normal part of relationships. The question isn't whether we'll have conflict, but how we handle it when it inevitably arrives. Resources Mentioned Book: Conflict Resilience Web: BobBordone.com 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. (00:00) Introduction to Bob Bordone (02:35) Contentious times vs 25 years ago (04:26) Negotiation vs facilitation vs conflict resolution (05:56) Key negotiator skills (08:35) Empathy meets assertiveness (11:22) Mirror work explained (15:58) Chair work technique (19:58) Table work strategies (24:10) Role-playing in preparation (31:44) Rights, power, interests framework (35:39) Conflict recognition vs conflict holding (42:22) Handling power imbalances (50:13) "Difficult people" reconsidered For more information, visit the show notes at https://affordanything.com/episode591 Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Afford Anything

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Small Cap Showdown! Paul Merriman vs. Dr. Karsten Jeske Battle … with Millions Hanging in the Balance 1:55:42

há 6 weeks1:55:42

1:55:42

#590: In the left corner, we have Paul Merriman, the seasoned finance veteran weighing in at 183 pounds. In the right corner, Dr. Karsten Jeske, the scrappy newcomer at 208 pounds. The bell rings, and the small cap value debate begins. This episode features a financial boxing match between two investment heavyweights with dramatically different perspectives. Paul Merriman champions diversification through the efficient frontier, which means adding small cap value to your portfolio. Dr. Karsten Jeska has "thrown cold water" on this approach, favoring simpler strategies like "VTSAX and chill." The stakes are high — we're talking potentially millions of dollars in your retirement account over decades. Merriman argues that history shows clear evidence for small cap value's premium. From 2000 to 2009, small cap value outperformed the S&P 500 in all but one year, compounding at 10 percent while the S&P 500 returned negative 1 percent. He believes this pattern will continue, creating a powerful diversification effect when combined with broader market indexes. Jeska counters that small cap value's outperformance is mostly "front-loaded" in history, happening before anyone knew about it. Since 2006, small cap value has underperformed. He argues that once an advantage becomes widely known, it disappears in an efficient market. Adding small cap value might even be "di-worsification" — increasing complexity without improving returns. The debate expands beyond small cap value to touch on: Active vs. passive investing strategies Market timing vs. buy-and-hold approaches Simplicity vs. complexity in portfolio construction The role of faith vs. evidence in investment decisions While both experts disagree about small cap value's future, they agree on fundamentals: invest early, stay invested for the long term, and understand that no one can predict markets with certainty. What starts as a technical debate evolves into a philosophical discussion about evidence, probability, and the limits of our knowledge — all with millions of retirement dollars hanging in the balance. 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) Debate intro: small cap value vs index funds (4:01) Merriman: small cap value offers premium returns (9:40) Jeske: small cap value underperformed since 2006 (18:20) Historical performance data significance (25:15) Stakes: difference of millions over time (33:08) Diversification vs added volatility debate (41:45) Risk-adjusted returns comparison (49:08) Questioning true diversification benefits (57:40) Value traps and actively managed funds (1:05:08) Technology stocks vs value investments (1:13:45) Data selection bias in studies (1:19:40) Faith vs science in investment decisions (1:29:20) Personal risk tolerance considerations (1:36:08) Closing arguments on investment strategies (1:42:08) Paula declares the debate a draw For more information, visit the show notes at https://affordanything.com/episode590 Learn more about your ad choices. Visit podcastchoices.com/adchoices…

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Q&A: How Much Risk Should My Mom Take in Retirement? 56:13

há 7 weeks56:13

56:13

#589: Kimmy is worried that her mom’s retirement portfolio is invested too conservatively. Is she right to advise her to take on more risk? Peyton has heard the financial advice about staying away from Whole Life Insurance as an investment, but what about as a savings account for children? Is there good a use case for this? Jeff and his wife are in a great financial position, but they fear that their retirement savings are too heavily apportioned in traditional IRAs. Will they run into tax problems in the future? Former financial planner Joe Saul-Sehy and I tackle these 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/episode589 Learn more about your ad choices. Visit podcastchoices.com/adchoices…

Afford Anything

1
First Friday: The Economic Maze We're Navigating Together 36:22

há 7 weeks36:22