Podcast
Afford Anything | Get Smarter With Money
Hosted by Paula Pant, Personal Finance Expert | Cumulus Podcast Network · EN
45 million downloads. One question: what does it actually take to build wealth?
Each week, Paula Pant brings in economists, investors, business leaders, authors, and researchers to dig into the five pillars of financial freedom — financial psychology, increasing income, investing, real estate, and entrepreneurship. Deep insights rooted in economics and behavioral finance. First-principles thinking. No surface-level tips.
to hear new episodes every Tuesday and Friday.
Get smarter with money. Build wealth.
199episodes
Episodes
Newest firstAll episodes
Is AI Making You Dumber? With Lorraine Marchand
Yesterday01:16:36Summary ready#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
SummaryQ&A: We Have $1.5 Million. Can We Stop Now?
4d ago01:03:11Summary ready#730: What does it actually mean to have "enough" — and how do you know when it's time to stop optimizing and start living? AVOIDING THE REAL ESTATE MISTAKES IN THIS FREE GUIDE COULD SAVE YOU $10,000 OR MORE 👉https://affordanything.com/mistakes In today's episode: Jax, a longtime listener, has hit a mindset shift — prioritizing sabbaticals and shared experiences over pure accumulation. He wants to know if his financial strategy still matches his values, how to deploy his home sale proceeds, when to assemble a financial team, and whether he and his wife have truly reached Coast FI. Megan and her wife are realtors in Baltimore who also flip houses. They're weighing whether to keep flipping, build a rental portfolio, or lean harder into retirement accounts and index funds — and want a framework for balancing it all as they plan for more travel and time with family. And Reema lives with her husband in the home she grew up in — which her mother still owns. As they plan renovations and think ahead to her mother's eventual estate, she's looking for guidance on how to split the inheritance fairly with her siblings. Share this episode with a friend, colleagues, and your dog sitter4: https://affordanything.com/episode730 Learn more about your ad choices. Visit podcastchoices.com/adchoices
SummaryFirst Friday: Jobs Are Cooling, Prices Are Climbing, and NYC is Freezing the Rent
1w ago01:05:58Summary ready#729: The U.S. added 57,000 jobs in June. Economists expected 115,000. Meanwhile, inflation hit a three-year high. The Personal Consumption Expenditures index - the Fed's favorite inflation gauge - jumped 4.1 percent year-over-year. That combination creates a problem. Weak jobs usually push the Fed to cut rates. Hot inflation pushes them to hike. In this First Friday episode, we break down which way the Fed might lean at its September meeting, and why traders see an 80 percent chance rates stay frozen for now. We also dig into Kevin Warsh's debut as Fed Chairman. His first official statement ran only 132 words, one of the shortest in Fed history. He cut forward guidance – the practice of making guesses about what the Fed will do next. He removed the names of dissenting voters. His statement mentioned price stability but skipped maximum employment, and we explain why that omission matters. Central banks around the world moved in the opposite direction. The European Central Bank raised rates for the first time since 2023, responding to a 10.9 percent surge in energy prices. The Bank of Japan hiked rates to their highest level in 31 years. Australia, Norway, Indonesia, the Philippines and Israel joined in. Brazil was the only country to cut rates – down to 14.25 percent. We cover China's consumer spending decline, the first since the pandemic ended, driven by a 16.1 percent drop in auto sales and a real estate crash that drained middle-class wealth. We end the episode with a deep dive into NYC's rent freeze – who gets the benefit, and who pays the price? ⏱️ Timestamps: Note: Timestamps will vary on individual listening devices based on dynamic advertising segments. (00:00) US Job Market Cooling Off (04:52) Fed’s Stance on Interest Rates (07:29) New Fed Chair Kevin Warsh’s Priorities (17:21) Global Interest Rate Hikes (21:47) Impact of Stable US Rates & Global Trends (26:24) Inflation Data and Predictions (30:38) Consumer Sentiment: US vs. China (40:00) NYC Rent Freeze: History, Policies, and Today Share this episode with a friend, colleagues, and your landlord: https://affordanything.com/episode729 Learn more about your ad choices. Visit podcastchoices.com/adchoices
SummaryQ&A: What $2.4 Million at 37 Actually Looks Like (It's Not What You Think)
2w ago01:00:40Summary ready#728: What do you do when you suddenly have $850,000 and no idea what to do with it? GET TOTAL CLARITY ON WHERE EVERY DOLLAR BELONGS 👉 https://affordanything.com/cornerstone On today’s Q&A, one caller recently inherited $850,000 from his mother. He's already wealthy, earns over $500K a year, and has a solid net worth — but he's anxious, lost, and doesn't want to make a decision he can't undo. Paula and Joe walk him through exactly what they'd do. Then, a federal law enforcement officer responds to Jane from episode 722. He pushes back on our diagnosis of her stress — and makes a compelling case that it's not the mandatory retirement age that's the problem. It's the minimum. He shares how he's survived the final stretch of a career he no longer loves, and what he'd tell Jane about the years she still has ahead. Finally, a caller who is pregnant, recently promoted, and about to have a very hard conversation with her employer. She wants to go part-time after maternity leave — but HR is bureaucratic and the stakes are high. When should she ask? How should she ask? And should she be saving differently right now just in case they say no? Mentioned in today's episode: Interview with Family Law Attorney Aaron Thomas https://affordanything.com/episode582 Full show notes at https://affordanything.com/episode728 Download the Four Cornerstones worksheet to see exactly where every dollar belongs https://affordanything.com/cornerstone Learn more about your ad choices. Visit podcastchoices.com/adchoices
SummaryHope Isn't a Feeling. It’s a Skill. - with Dr. Julia Garcia
2w ago01:20:58Summary ready727: Not sure what your next money move should be? Start with the free FiiRE Playbook 👉 https://affordanything.com/fiire Dr. Julia Garcia is a psychologist, behavioral researcher, and author of The Five Habits of Hope — and she's spent years studying why smart, hardworking people stay stuck. What if the biggest thing standing between you and your financial goals isn't your income, your debt, or the housing market — but your own brain? I sat down with Dr. Garcia to unpack the neuroscience of hope, why apathy is more dangerous than despair, and the five habits that can rewire your brain — and your relationship with money — for good. (00:00) Hope is not a feeling — it's a cognitive process (05:00) The real reason you can't save money (it's not imposter syndrome) (08:11) Hopelessness vs. despair — and why the difference matters (13:05) The biggest danger isn't despair — it's apathy (21:10) How avoiding feelings leads to avoiding financial decisions (23:45) The "maybe" technique that interrupts negative thought loops (39:26) Habit 2: Risk — why comfort is killing your courage (54:59) Habit 4: Receive — why you can't hold onto wealth you don't feel worthy of (01:01:41) Habit 5: Repurpose — seeing worth where others see waste __________ 🎧 NEVER MISS AN EPISODE Apple Podcasts: https://affordanything.com/applepodcasts Spotify: https://affordanything.com/spotify __________ 🤗JOIN OUR PRIVATE COMMUNITY: https://affordanything.com/community 🤗STAY IN THE LOOP: https://affordanything.com/newsletter __________ 🛠 TOOLS AND RESOURCES: Check out The 5 Habits of Hope, a book by Dr. Julia Garcia - https://amzn.to/4oUzoRj Dr. Garcia’s Bio - https://www.linkedin.com/in/drjuliagarcia __________ 👀 WATCH THIS VIDEO NEXT: https://youtu.be/TdiyOHkAGiY __________ 👋 SAY HI ON SOCIAL: Facebook: https://facebook.com/affordanything Instagram: https://instagram.com/paulapant X: https://x.com/affordanything #FinancialPsychology #BehavioralFinance #MoneyAndMindset #FinancialGoals Watch the video of this episode https://youtu.be/hx1fJcok6Mk Learn more about your ad choices. Visit podcastchoices.com/adchoices
SummaryQ&A: She Has $884K Saved — So Why Can't She Retire?
3w ago01:19:32Summary ready#726: Hey, we're mixing it up today with a super deep dive. We normally go fairly deep on this show, but today we're going even deeper and turning one caller's question into a case study. Download the Four Cornerstone Worksheet to follow along: www.affordanything.com/cornerstone An anonymous caller is reevaluating their finances after a series of health challenges, caregiving responsibilities, and major life changes. With most of their wealth tied up in retirement accounts, they’re wondering how to balance tax advantages against the need for greater flexibility and access to their money. We spend most of the episode answering this question in deep detail. At the end of the episode, we talk to another caller whose HOA hit her with a massive unexpected bill. She bought into an HOA, turned her former home into a rental, and years later was hit with a surprise $15,000 special assessment—with only months to pay and no payment plan available. Now she's wondering why the risks of HOA ownership, especially the possibility of massive special assessments, aren't discussed more often—and what prospective buyers should know before purchasing in an HOA community.” We'll dig into that in today's episode. Resources: Download the Four Cornerstone Worksheet: www.affordanything.com/cornerstone 7 Expensive Mistakes Real Estate Investors Make: http://afforanything.com/mistakes Video: Japan's Soccer Fans with Blue Bags Video: Norway's Vikings Fans on Escalator Learn more about your ad choices. Visit podcastchoices.com/adchoices
SummaryWhat Most Families Get Wrong About Passing Down Wealth, with Andrea Baumann Lustig
3w ago01:29:06Summary ready#725: Most people assume their financial advisor is legally required to put their interests first. That's not always true. Andrea Baumann Lustig, a wealth advisor with 30 years of experience, joins us to walk through the blind spots she sees most often in legacy planning -- the deeply held beliefs that quietly undermine people's financial futures. We start with something most people never think to ask: how is your advisor actually registered? There are three categories. Registered representatives (stockbrokers) are held to a "best interest" standard - but they don't have to disclose when they earn a higher commission for recommending a specific investment. Fiduciaries are held to a stricter standard - they must put your interests ahead of their own. And 45 percent of advisors are dually registered, meaning they can switch between those two standards depending on which account they're discussing with you. Most clients have no idea this is happening. From there, we dig into what Lustig calls the "quarterback" problem. Many people have a financial advisor, an estate planning attorney, an accountant, and an insurance agent - but those specialists never talk to each other. Without someone coordinating the full picture, opportunities get missed and risks go unseen. We also talk through what happens when people try to manage everything themselves, why having multiple investment advisors can actually backfire (think: wash sale rule violations and hidden concentration risk), and why a revocable trust matters even if you don't think you're wealthy enough to need one. Lustig explains the three Ps a revocable trust protects against - probate, incapacitation, and privacy - and why even people in their 30s and 40s should consider setting one up now. The conversation closes with advice for small business owners on how to think about a business that might not be sellable - and how to plan around it anyway. 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) Intro (04:52) Three types of financial advisors explained (07:11) Fiduciary vs. best interest standard (13:21) Dangers of dually registered advisors (17:26) Why you need a planning quarterback (22:42) Risks of using multiple investment advisors (35:10) Who benefits from holistic wealth management (38:50) The three Ps of a revocable trust (42:19) Returning to the blind spots overview (45:40) Risks of managing money yourself (55:13) Key questions to ask a new advisor (1:03:34) Index funds vs. active management (1:10:04) Asset allocation and rebalancing strategy (1:19:10) Legacy planning for small business owners (1:25:54) How to spot your own blind spots Resources: Book: Legacy on the Line: Overcome Blind Spots to Grow and Transfer Your Wealth by Andrea Baumann Lustig Free download: The FiiRE Playbook Share this episode with a friend, colleagues, and your estate attorney: https://affordanything.com/episode725 Learn more about your ad choices. Visit podcastchoices.com/adchoices
SummaryWhy Does Every Good Idea Die in a Meeting? – with HBS Prof Linda Hill and Jason Wild
4w ago00:58:59Summary ready#724: Linda Hill, a Harvard Business School professor, and Jason Wild, an innovation consultant who has led projects in 40 countries, join us to break down how organizations innovate. Linda and Jason have spent decades studying companies that consistently produce breakthroughs - from Pixar to Delta Airlines to Cleveland Clinic - and they've identified three leadership roles that matter most: the Architect, the Bridger, and the Catalyst. The Architect builds a culture where people feel safe enough to take risks. The Bridger - which Linda calls the "revenge of middle management" - spans the gaps between departments, partners, and outside organizations where innovation often stalls and dies. The Catalyst builds coalitions across broader ecosystems to get things done. We get into what separates co-creation from consensus - and why consensus almost never produces anything great. Linda explains what she calls "creative abrasion": the practice of rubbing ideas against each other through debate and discourse, rather than smoothing over disagreements to keep the peace. We also talk about what individual employees can do when they work inside slow, tradition-bound organizations. The short answer: find the people who share your interests, build a coalition, and work your way up - not by chasing the most powerful person in the room, but by starting with whoever cares about the same problem you do. The conversation touches on AI and what it actually takes to stay relevant as a knowledge worker. Linda and Jason both land on the same answer - the ability to build trust and relationships in low-trust environments is one of the hardest things for AI to replicate. Linda and Jason can be found at geniusatscale.com Download the FIIRE playbook: affordanything.com/FIIRE Timestamps: Note: Timestamps will vary on individual listening devices based on dynamic advertising segments. The provided timestamps are approximate and may be several minutes off due to changing ad lengths. (00:00) Innovation leadership and the ABC framework (02:19) Architect, Bridger, and Catalyst roles (04:18) Studying Pixar and innovation cultures (06:14) Co-creation versus consensus thinking (07:12) Creative abrasion and productive debate (08:41) Bridgers connecting teams and partners (10:50) Delta biometric boarding pass example (12:56) Relationship skills in the AI era (15:40) AI, trust, and human judgment (18:50) Rio collaboration across government silos (22:53) Innovating inside traditional organizations (25:18) ANA teleportation project and coalition building (30:49) Power of questions for innovation (32:42) Shared purpose versus top-down purpose (43:27) Better decision-making through clear criteria Learn more about your ad choices. Visit podcastchoices.com/adchoices
SummarySix Levels of Wealth, with Nick Maggiulli [GREATEST HITS]
4w ago01:12:19Summary ready723: This episode originally aired in July 2025. Here's the thing about personal finance advice: what works when you have $10,000 won't work when you have $1 million. Yet most financial guidance treats everyone the same, whether you're scraping together a $1,000 emergency fund or deciding whether to upgrade to business class. Nick Maggiulli, author of "The Wealth Ladder," joins us to break down how money strategies must evolve as your net worth grows. He's mapped out 6 distinct wealth levels, each requiring different approaches to spending, saving and investing. The levels start simple. Level 1 covers anyone with less than $10,000 in net worth — that's 20 percent of American households. Here, bad luck gets amplified. A flat tire that costs $200 could spiral into job loss and debt if you can't afford the repair. Level 2 spans $10,000 to $100,000 in net worth. Maggiulli calls this "grocery freedom" — you can splurge on the nicer eggs without checking your bank balance. Level 3, from $100,000 to $1 million, brings "restaurant freedom." Level 4, the $1 million to $10 million range, unlocks "travel freedom." Getting beyond Level 4 — into the $10 million-plus territory — requires business ownership or extreme patience. Maggiulli calculates that even saving $100,000 annually after hitting $1 million takes 23 years to reach $10 million, assuming 5 percent annual returns. The data shows income matters more than frugality, especially in the early levels. The median household income in Level 1 is $32,000, but in Level 4 it's $197,000, and in Level 6 it reaches $4.3 million. We discuss why homeownership dominates wealth in Levels 2 and 3, how investment assets become crucial in higher levels, and why many people in Level 4 choose "Coast FIRE" over the grinding path to Level 5. Resource Mentioned: Nick's book: The Wealth Ladder: Proven Strategies for Every Step of Your Financial 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 wealth ladder concept (1:35) The 0.01% daily spending rule (3:43) Six wealth levels breakdown (7:35) Level 1 survival mode focus (11:21) Six levels population data (13:02) Level 1 bad luck amplification (15:08) Level 2 skills development priority (17:55) Income and wealth correlation data (25:28) Level 2 education strategies (28:05) Income opportunity heuristics discussion (32:24) Level 2 mobility statistics (36:38) Asset composition shifts by level (39:28) Level 3 to 4 progression (46:52) Level 3 and 4 similarities (50:14) Level 4 to 5 math (53:29) Business ownership requirements for Level 5 (56:07) Level 5 and 6 non-monetary focus (59:07) Wealth movement bidirectional data (1:04:09) Key takeaways summary begins For more information, visit the show notes at https://affordanything.com/episode629 Learn more about your ad choices. Visit podcastchoices.com/adchoices
SummaryQ&A: Why Do I Still Feel Anxious When I’m Clearly Doing Well?
Jun 900:50:22Summary ready#722: Free lesson: affordanything.com/mistakes Ask us a question: affordanything.com/voicemail What happens when your financial plan is technically working — but emotionally, it still doesn’t feel secure? Caitlin and her husband have their core expenses covered, but her side hustle brings in an extra $600 a month. With young kids, daycare costs, and long-term retirement goals all competing for attention, she’s wondering where that extra money should go right now. Anonymous is in a strong financial position for retirement, with a pension, solid investments, and high savings rates—but is still constantly checking accounts, rerunning projections, and struggling to feel at peace with money. Charlotte is calling back several years after asking whether short-term rentals could fund her early retirement. After buying, renovating, and eventually selling two Airbnb properties—just before a devastating hurricane hit the area—she’s reflecting on what she learned about risk, hype, and investing with emotion. Resources mentioned: Charlotte's original call: affordanything.com/episode352 Paula interview on Emma Chamberlain's podcast: youtube.com/watch?v=VOP7S4w8s0I Midterm Rentals with Jeff Hurst: affordanything.com/episode712 Interview with Brad Klontz, Ep127: affordanything.com/episode127 Interview with Brad Klontz and Adrian Brambila, Ep551: affordanything.com/episode551 Share this episode with a friend, colleagues, and your AirBNB tenants: https://affordanything.com/episode722 Learn more about your ad choices. Visit podcastchoices.com/adchoices
Summary