#758: Joe says that if you tell an employer you’re not motivated by money, you’re unemployable. Paula says that’s exactly the person she wants to hire.
Former financial planner Joe Saul-Sehy joins Paula to answer a question from a 26-year-old whose net worth is already 10 times her annual spending. Then they take on two more: whether target date funds are worth it, and whether a dad of young kids should make a career change that cuts his income by 60%.
In this episode, we discuss:
- Why not being motivated by money can make you a better hire
- The two traits Paula looks for when she hires
- How to tell whether a small business is a good place to work, and when it isn’t
- A quick test for whether you’d actually enjoy your coworkers
- When a target date fund makes sense, and when it holds you back
- How to decide whether to make a big career change now or wait
- Why your savings might be meant for exactly this kind of leap
If you’ve saved enough that a paycheck no longer drives your choices, this episode will help you figure out what should.
⏱️ TIMESTAMPS
Note: Timestamps may vary slightly depending on dynamic ad placements.
(02:32) She’s 26 and no longer motivated by money
(07:23) What Paula looks for instead of money motivation
(12:54) The hidden risk of working at a tiny company
(24:55) The 8-hour layover test for coworkers
(33:05) Why Paula put her parents in target date funds
(40:24) Joe’s 30-minute alternative to target date funds
(51:33) Why your 401(k) target date fund may be junk
(58:33) The case for target date funds as harm reduction
(01:08:01) Should he take a 60% pay cut to switch careers?
(01:13:37) Why waiting “one more year” rarely helps
🔗 RESOURCES MENTIONED
👉 Building your own mix instead of a target date fund? See which account each fund belongs in: https://affordanything.com/assetlocation
👉 Episode #709, planning for a child with special needs, with Keith Wargo: https://affordanything.com/709-the-financial-reality-of-developmental-disability-with-keith-wargo/
👉 Stacking Benjamins, Joe’s podcast: https://www.stackingbenjamins.com/
👉 Strategic Coach, the entrepreneur coaching program Joe recommends: https://www.strategiccoach.com/
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