In this Q&A episode, Joe and I tackle three listener questions that touch on career transitions, portfolio evaluation, and giving your kids a head start on retirement savings. We start with a burned-out teacher in New Zealand who's paid off her mortgage and is ready to shift to part-time work, but she's caught in a "what-if spiral" about timing and financial preparedness. From there, we explore how to evaluate whether a portfolio manager is actually worth the fees, and whether you might be better off with simple index funds. We close with a thoughtful dad wondering how to navigate Roth IRA contribution rules for his teenage son who just got his first W-2 job, balancing tax credits against long-term compounding benefits. Throughout the episode, we balance practical money math with the deeper question of what makes a life worth living, reminding us that financial decisions aren't just about maximizing returns—they're about designing a life that works for you. Listener Questions in This Episode Anonymous "Cheryl" asks: I'm a 38-year-old teacher in New Zealand, mortgage-free with a 65% savings rate, but I'm completely burned out. Should I work full-time for seven more years to fully FIRE with $900,000, or should I transition to relief teaching in two years even though I'll need to withdraw $5,000-$10,000 annually from my investments to cover living expenses? How do I prepare for fluctuating income? Anonymous "Ray" asks: I have money with a portfolio manager at a bank. He's beating large-cap benchmarks but underperforming in mid-cap and trailing slightly in other categories. How long should I wait before fairly assessing his performance? He favors dividend funds, but I'm wondering if I'd be better off just investing in an S&P 500 ETF for 10-20 years. Nathan asks: My 14-year-old son just got his first W-2 job earning about $1,000 this year. I want to contribute to a Roth IRA for him, but our family income exceeds the Roth contribution limits. Can I have him file a separate tax return so his individual income qualifies? We'd lose the $2,200 child tax credit if we don't claim him—is there a better way to do this? Key Takeaways Don't sacrifice your mental and physical health for a FIRE timeline, if you're burned out, no amount of future money will compensate for breaking your spirit today. Coast FIRE (working part-time to cover expenses while investments grow) is a viable middle path between full-time work and complete financial independence, especially when you've already paid off major debts. Most portfolio managers underperform simple index funds after fees over the long term, the vast majority still trail broad market indexes even after 10+ years, making low-cost index funds the better choice for most investors. The Roth IRA income limits apply to the parents making the contribution, not the child earning the income, a teenager can contribute to their own Roth IRA regardless of their parents' income as long as they have earned income. The child tax credit ($2,200) is worth far more than a $1,000 Roth IRA contribution, losing the credit to enable a small Roth contribution makes no mathematical sense. Resources Afford Anything podcast episode #646 (Andy Hill): affordanything.com/episode646 https://youtu.be/FnP_GqwfzI0?si=3oW4UBDXbrGMOPFn Chapters (00:00) Introduction (01:20) Listener Question 1 Anonymous from New Zealand. (04:45) Why Paying Off the Mortgage Creates Flexibility (07:23) Quit Sooner Not Later Protect Your Energy (20:11) Listener Question 2 Evaluating a Bank Portfolio Manager (21:55) Dividend Funds vs Long Term Growth (25:00) Your Real Benchmark Is Your Goal (31:40) Diversification vs Complexity in Portfolios (35:22) Listener Question 3 Nathan and a Child’s First Roth IRA (37:05) A Parent’s Income Does Not Block a Child’s IRA _______________ Subscribe via Apple Podcasts: https://affordanything.com/applepodcasts Full show notes for the episode: https://affordanything.com/episode Get our show notes in your inbox: https://affordanything.com/shownotes Follow us! IG: https://instagram.com/paulapant Twitter: https://twitter.com/affordanything FB: https://facebook.com/affordanything Community: https://affordanything.com/community