Afford Anything Podcast

#615: Emily is nervous that buying their first home will derail her familys journey to financial independence. Whats the smartest way to deploy their savings and stay on track?

Based on cap rate calculations, Pauls real estate investments have appreciated beyond their sensible holding point. Should he sell his assets, or is there more to consider here?

Mike is recently retired while his wife still works. With a paid-off home and healthcare already taken care of, what are best practices for drawing down an investment portfolio?

Former financial planner Joe Saul-Sehy and I tackle these three questions in todays episode.

Enjoy!

P.S. Got a question? Leave it here.



For more information, visit the show notes at https://affordanything.com/episode615https://affordanything.com/episode615 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#614: The US just added 139,000 new jobs in May. That beat expectations. But the real story isn't in the job numbers — it’s in the bond market.

Something unusual is happening in bonds. Treasury yields are spiking. The dollar is weakening. That combination almost never happens together. And it's signaling concerns about future inflation.

Trade wars continue on. A federal court just struck down some tariffs. The administration will appeal. Meanwhile, the EU has until July 9 to cut a deal. If they don't, 50 percent tariffs kick in. As a result, many companies are playing defense instead of growing.

The debt situation keeps getting worse. We owe $36.2 trillion. That's more than we owed at the end of World War II as a percentage of our economy. Moody's just downgraded our credit rating. We're not alone — Britain's bonds just hit their highest levels since 1998.

The accredited investor rules could finally change. Right now you need an income of $200,000 ($300,000 as a couple) or $1 million in net worth to access private markets. Those numbers haven't changed since they were written in 1982, even though adjusted for inflation, that $200,000 would be $662,000 today. 

The SEC might start loosening enforcement of the accredited investor rules. That could open up more investments to people who've been locked out for decades.

Crypto is finding its footing. The SEC dropped cases against Coinbase. They're backing away from treating most crypto like securities. Bitcoin sits near all-time highs. The US keeps building its strategic Bitcoin reserve.

The House just passed what's being called the "One Big Beautiful Bill." It extends 2017 tax cuts. Eliminates taxes on tips and overtime. The Congressional Budget Office says it'll add $2.4 trillion to the deficit over 10 years. That's sparked debate between deficit hawks and growth advocates —  including one particularly high-profile debate that has been plastered across the headlines.

Consumer sentiment stays stuck at 2022 lows. People expect 6.6 percent inflation. The actual rate is 2.3 percent. That gap between what the data says and what people feel shows up everywhere.

We cover all of this in today’s First Friday economic update. 



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#613: Rachel Rodgers graduated from law school with $330,000 in student loans. Her starting salary? Just $41,000.

Most people would have accepted this crushing debt-to-income ratio. They'd slowly chip away at payments for decades. Rodgers had a different plan.

She deferred her loans and started her own virtual law practice in 2008 — during the recession, when jobs were scarce and most lawyers were struggling to find work. 

Her mom thought she was crazy. 

Her first year, she made around $65,000 in gross revenue with only $300 in overhead costs. By year two, she was earning $300,000.

The key to her success wasn't cutting expenses or living on rice and beans. Rodgers focused entirely on earning more money. 

We talk about the practical steps she took to scale her business. 

She waited until hitting $250,000 in annual revenue before bringing on her first full-time employee — an administrative assistant who immediately paid for herself by responding to client inquiries faster than Rodgers could manage alone.

Rodgers also shares insights from a CEO's perspective on what employees should know when asking for a raise. 

Understand your company's goals. Know your boss's pain points. When you spot a problem, bring three solutions — not just the issue. She usually goes with whatever option her team recommends.

"You are the asset," she explains. This mindset applies whether you're an entrepreneur or an employee trying to maximize your career potential.

Our interview covers her transition from solopreneur to multimillion-dollar business owner, her approach to leading employees, and her philosophy on building wealth through entrepreneurship rather than cost-cutting.

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

(2:00) Rachel's $330,000 debt with $41,000 salary 

(5:35) Why earning more beats cutting expenses 

(6:40) Starting solo law practice during 2008 recession

(9:13) Hitting $300,000 revenue in year two

(11:00) Debt payments versus business reinvestment 

(14:20) Small Business Bodyguard digital product success story

(21:00) Virtual law offices and perfect timing decisions

(24:30) Taking calculated risks 

(39:00) Financial independence and Fat FIRE goals

(46:00) When to hire employees 

(53:00) Why opportunity costs matter more than expenses

(57:00) Being invaluable employee from boss POV

(1:11:00) Salary negotiation tactics

(1:19:00) Building relationships with remote team members

(1:21:00) Launching adult kids into financial independence

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Grant Sabatier never worked in retail, never worked in a bookstore, and had no idea what he was doing when he opened Clintonville Books in Columbus, Ohio.

But that's exactly the point.

The experiment required 1,200 hours of solo work — measuring spaces, moving 40,000 books, and navigating city regulations.

But it taught him something crucial: even experienced entrepreneurs face steep learning curves when they try something new.

The serial entrepreneur and author of "Inner Entrepreneur" joins us to share his unconventional journey from online businesses to brick-and-mortar retail.

He also explains why he believes everyone will become an entrepreneur within the next decade — whether they want to or not.

We dive deep into Sabatier's framework for the four stages of entrepreneurship.

The first stage is experimental — you're figuring out how entrepreneurship feels and testing ideas with minimal risk. Most people skip the crucial research phase and invest too much money too quickly.

The second stage focuses on building sustainable systems as a solopreneur. Thanks to AI and modern tools, Sabatier launched a new website in 10 minutes recently — something that would have taken two weeks just five years ago.

Stage three involves intentional growth. Sabatier warns against the common trap of scaling rapidly without considering how you want entrepreneurship to fit into your life.

The final stage is empire entrepreneurship — using cash flow from successful businesses to acquire other companies rather than investing in traditional assets like stocks or real estate.

Throughout our conversation, we explore the most common reasons businesses fail, how to avoid fragmented attention, and why Sabatier believes your story is your competitive advantage in an AI-driven world.



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

(01:15) Grant opens bookstore with zero retail experience

(03:45) Four stages of entrepreneurship framework

(05:20) Creative lease negotiation and getting the space

(08:30) Why entrepreneurs invest too much money too early

(10:45) Stage two solopreneur and building systems

(13:20) Stage three growth and avoiding scaling traps

(17:15) Three main reasons businesses die

(21:45) Stage four empire building and holding companies

(28:30) Four types of holding company structures

(32:15) Managing multiple businesses without losing focus

(48:20) Why everyone should try entrepreneurship

(59:30) Three business types products services productized services

(01:04:45) Sell to people with money



For more information, visit the show notes at https://affordanything.com/episode612https://affordanything.com/episode612 Learn more about your ad choices. Visit podcastchoices.com/adchoices

#611: With the state of the world changing so rapidly, Lesley is struggling to accept that “this time isn’t different.” Does the past still reliably inform the present in the face of major decisions today?

An anonymous caller and her husband want to achieve financial independence through real estate within 10 years. Is it better to pay off existing mortgages or prioritize buying more rentals?

Melanie feels duped by the FICO credit scoring system. She’s doing all the right things, but her credit score is still moving in the wrong direction. What’s going on here?



Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.

Enjoy!



P.S. Got a question? Leave it here.



For more information, visit the show notes at https://affordanything.com/episode611https://affordanything.com/episode611 Learn more about your ad choices. Visit podcastchoices.com/adchoices