First Friday: When the Gov’t is Closed, Where Do We Find the Numbers?
#658: An unusual First Friday episode because we don't have a jobs report.
However, we do know that in October, U.S. companies announced more job cuts in a single month than they have over any single month of the last 20 years. In other words, October was peak job cut month.
By contrast, private payrolls, as reported by ADP, rose by 42,000 in October, so we have a little bit of conflicting data. Some pessimistic, some optimistic. We're going to take a deeper look at that in today's episode.
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) Conflicting Job Market Data
(03:40) Youth Unemployment and AI’s Impact
(10:16) Fed Rate Cuts and Housing Market
(20:23) New Job Postings Lowest in 4 Years
(20:54) Consumer Sentiment
(22:04) Social Security Payments Increase in 2026
(23:33) Rising Car Costs and Repossessions
(24:46) Good News for Prescription Drug Prices
(31:50) Government Shutdown Impacts
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37:21
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37:21
Q&A: Can You Really Beat the Market by Copying Members of Congress?
#657: This week, Paula and Joe dig into a listener’s question about ETFs that track the stock trades of U.S. politicians — including the Democratic “NANC” fund and its Republican counterpart “KRUZ.” They explore whether this strategy is smart investing or just expensive entertainment.
Then, they shift gears to home ownership headaches. Another listener asks how to control ballooning maintenance costs, and Paula shares her best advice for finding trustworthy contractors, budgeting for repairs, and knowing when DIY doesn’t actually save money.
Finally, an anonymous caller wonders if starting a small business just for tax breaks makes sense. Paula and Joe explain the IRS rules — and why energy and purpose matter more than deductions.
From “fun money” investing to financial planning that actually works, this episode is all about balancing curiosity, caution, and common sense.
Key Takeaways
Congressional-trade ETFs aren’t a shortcut to wealth. They’re speculative, lag behind real trades, and carry high costs
Home maintenance is predictable — plan for it. Create a repair timeline and build relationships with investor-friendly contractors
DIY isn’t always cheaper. Factor in time, tools, and opportunity cost
Never open a business just for taxes. If it doesn’t make a profit or bring joy, it’s an energy drain, not a strategy
Separate fun money from freedom money. Keep speculation playful, and build wealth with focus and purpose
Chapters
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) Should You Follow Congress’s Trades?
(06:00) The Lag Problem and Investor Bias
(10:30) The “Fun Money” Rule
(11:20) The Hidden Cost of Home Repairs
(15:00) Finding Investor-Friendly Contractors
(18:00) Planning Ahead for Repairs
(22:00) DIY vs. Opportunity Cost
(26:00) Starting a Small Business for Tax Breaks
(29:00) The IRS “3-of-5 Rule”
(32:00) Purpose Over Deductions
(34:00) Final Thoughts
https://affordanything.com/voicemail
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59:18
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59:18
Would You Shock a Stranger? What a 1960s Experiment Reveals About Your Money Decisions
#656: What would you do if someone in authority told you to do something that felt wrong? Most of us like to think we'd speak up, push back, stand our ground. But research tells a very different story.
In fact, when Yale researchers conducted a famous experiment in the 1960s, they found that 65% of people would administer what they believed to be deadly electric shocks to another human being... simply because someone in a lab coat told them to.
Today's guest has spent over 15 years studying why humans comply with authority - even when every fiber of our being is screaming that we shouldn't. And when it comes to our money, this tendency to comply with authority figures - from financial advisors to real estate agents to car salespeople - can cost us dearly.
Dr. Sunita Sah began her career as a physician in the UK's National Health Service. During one particularly exhausting period as a junior doctor, she agreed to meet with a financial advisor who had contacted her at work. That meeting sparked questions that would shape the rest of her career: Why did she feel pressured to trust this advisor, even after learning he had a conflict of interest?
Today, she's a tenured professor at Cornell University, where her groundbreaking research on compliance and influence has been featured in The New York Times and Scientific American. She's advised government agencies, served on the National Commission on Forensic Science, and helps leaders understand the psychology behind why we say "yes" when we really want to say "no."
Whether you're meeting with a financial advisor, negotiating the price of a home, or discussing rates with a contractor, understanding the psychology of compliance could save you thousands of dollars - and help you make better financial decisions. Today's conversation isn't just about psychology - it's about protecting your wealth by learning when and how to say "no."
Resources Mentioned in the Episode:
- Website: sunitasah.com
- Newsletter: Defiant By Design | Dr. Sunita Sah | Substack
- Connect with Dr. Sunita Sah
- Follow Dr. Sah on Instagram
About Dr. Sunita Sah
Dr. Sunita Sah is a tenured professor at Cornell University specializing in organizational psychology. Her research focuses on how and why people comply with authority, even against their better judgment. A former physician in the UK's National Health Service, Dr. Sah brings a unique perspective to understanding human behavior and decision-making. Her work has been featured in leading publications including The New York Times and Scientific American, and she has served as a Commissioner on the National Commission on Forensic Science.
Share this episode with a friend, colleagues, and your cohorts: https://affordanything.com/episode656
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1:28:17
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1:28:17
Q&A: How to Choose Between Financial Freedom and a First Home
#655: What would you do if, at the age of 23, you found yourself with $70,000 a year leftover after expenses? Would you pour everything into retirement and coast to financial independence, or stockpile a down payment before life gets pricier with kids, a mortgage, and maintenance costs?
This week, we dive into that real-life dilemma and explore how to strike the perfect balance between freedom now and security later.
Along the way, we question whether a 0.40% fee for automated tax-loss harvesting is really worth it, and debate if the rise of mega-corporations means small-cap value investing is dead.
Listener Questions in This Episode
“Julio” asks: How should we split savings between Coast FI and a future down payment, and where should that down payment sit? (01:48)
Lindsay asks: Is 0.40 percent worth it for Fidelity’s tax loss harvesting and how do we unwind back to self managed index funds? (32:31)
Greg asks: If a handful of giants dominate, should we ignore history and tilt to only the top companies instead of broad markets and small cap value? (50:51)
Key Takeaways
The right savings balance may depend less on math and more on clarity about what “home” really means to you
Building a down payment might be the fastest way to reach Coast FI, but not for the reason you’d expect
Parking cash safely is trickier than it sounds, especially when the market tempts you with higher returns
That 0.40 percent fee could be either a silent drag or a smart trade-off, depending on one often-overlooked detail
The rise of mega-caps might look unstoppable, yet history has a way of surprising even the biggest players
True diversification isn’t about predicting winners, it’s about protecting future you from overconfidence today
Chapters
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) Are we headed for a dystopian future
(01:48) A 23-year-old with a $125k income and a big savings gap
08:52) House price, down payment size, and the numbers that drive the split
(10:47) The savings snowball case, match protection, and timeline trade-offs
(25:14) Where to park the down payment, why cash beats stocks for readiness
(32:31) Is 0.40 percent worth it for tax-loss harvesting
(36:24) Fees versus claimed tax savings, turnover, and exit options
(50:51) Should dystopia change our portfolio
(54:36) Small-cap value beyond tech, acquisitions, and global opportunity
(1:11:02) Optimism, innovation, and why investing still assumes progress
P.S. Got a question? Leave it at https://affordanything.com/voicemail
For more information, visit the show notes at https://affordanything.com/episode655
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1:14:26
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1:14:26
How to Stop Fighting About Money
#654: Fights about money are common, but they're rarely about math. They're about power, shame, vulnerability, and trust. And no amount of data or fancy spreadsheets is going to fix it. What you need is a better system for fairness, more open communication, and a shared ambition.
In this candid conversation with Heather and Doug Bonaparte, we explore how two partners rebuilt confidence, handled their six-figure student loans, and designed a rhythm for money talks that actually works.
Together they share how early money stories, law school debt, and the Great Recession shaped their dynamic, plus the tools they used to find fairness at home and in their finances
Key Takeaways
Why 50/50 isn't always fair and how to do it better
The small ritual that turned dreaded money talks into something they actually look forward to
How borrowing a strategy from the office made household decisions way less stressful
The surprising fix for resentment that had nothing to do with chores or budgeting
Why tackling six-figure student loans together became a turning point in their relationship
The mindset shift that helped them see debt not as a burden but as a shared opportunity
Resources and Links
Money Together, the book
DoMoneyTogether.com, learn more about the book and project
The Joint Account, weekly newsletter on joint finances at ReadTheJointAccount.com
Fair Play by Eve Rodsky, a framework for dividing household responsibilities
Share this episode with a friend, colleagues, and anyone who is part of a couple: https://affordanything.com/episode654
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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.
Ireland