Podcast listener Eva is interested in opening a Vanguard account. She noticed that people need $50,000 to access their personal advisor services. It’ll take her several years before she can access this. What should she do in the meantime?
Amy, another podcast listener, wants to invest $5,500 into her Roth IRA in 2017. Should she invest the full amount on January 1, or should she spread this throughout the year?
Meanwhile, podcast listener Daniel asks:
- Q1: I’d like to invest in real estate. Where and how should I look for homes, other than Zillow?
- Q2: Why would an investor sell a cash-flowing, profitable investment property? Should I be suspicious about multiunit properties for sale?
Eric, another podcast listener interested in real estate, asks:
- Q1: What are the basic steps for forming an LLC, especially one with multiple partners who aren’t equal investors?
- Q2: How do you go about creating a joint bank account for the LLC? Is it even needed? Should the account be referenced in the LLC documentation?
I answer all of these questions in this episode of Ask Paula.
- Mike Piper’s Blog: Oblivious Investor
- Michael Kitces’ Blog: Kitces.com (Nerd’s Eye View)
- I Don’t Know How to Start Investing, and I’m Afraid of Making Expensive Mistakes (Blog Post)
- Why Dollar Cost Averaging Stinks (Blog Post)
- The Simple Path to Wealth by Jim Collins
- Mike Piper’s Books on Investing
- #24: Ask us Anything: Betterment, Wealthfront, Robo-Investing…What’s the Deal? (Podcast)
- #31: The Simple Path to Wealth, with Jim Collins (Podcast Interview)
- Find an SFR Specialist – National Association of Realtors
I also wanted to take a moment to mention the sponsors for this episode. Have you ever wanted to talk to a financial advisor, just to ask one question, maybe two? Well, guess what? Nerdwallet has this cool new app that lets you have one-on-one conversations with financial advisors, and it’s available at no cost to you.
You can chat with an advisor about anything related to money, such as retirement, investing, insurance, debt – all things money-related – and you’ll get personalized, one-on-one advice.
Check it out at no cost to you by going to nerd.me/paula.
If you’ve been listening for a while, you’ve heard me interview many best-selling authors, including Gretchen Rubin, Laura Vanderkam, Cal Newport, Chris Guillebeau, and J.D. Roth. Before I interview these guests, I need to review their books, even if I’ve already read them in the past.
Sitting down to physically read the books can take a long time. That’s why I listen to their audiobooks, and I do this through a subscription I have called Audible. If you want to give them a try for free, head to audible.com/trynow for a free 30-day trial.