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.
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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.
Q&A: Can You Really Beat the Market by Copying Members of Congress?
Afford Anything
59 minutes
1 week ago
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
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Afford Anything
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.
