We have a great lineup of your social media questions. We have received so many positive comments about these episodes. If you have a question for us please email to podcast@rocklandusa.com
We begin with a little financial talk on what the Island Boys should be doing with their new-found fame money before the flame runs out. We then get into your questions and comments!
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QUESTION 1
Is it wrong that I’m 25 and already worried I won’t have enough saved for retirement?
QUESTION 2
Question for you smart people. So I am deciding whether or not to invest into my 401k or just What do you recommend budgeting for each category? Restaurants/entertainment, clothing, haircuts, etc? I have about $400 left after all of my expenses are paid. I’m in BS3.
QUESTION 3
I’ve been telling all my friends “don’t count on your Social Security benefits. Assuming there is any left, the benefits are pretty darn low”. Just for giggles today, I looked mine up just to see what it would be. SHOCKING!
$1,710.00/month if I retire at 62. That’s $20,520 annually and taxable in my state. Chump change! It’s down right embarrassing. If I was counting on this SS benefit to live, I’d have to work until I’m 70. Then, it’ll be $3,102.00/month or $37,224 annually. This is from working since 1989!
QUESTION 4
Do you count equity in your house towards your net worth? Like if I pull $5,000 from a mutual Looking for some investment advice. I am able to put 15% w/ match into my 401k. Should I focus my entire investment onto my 401k or is it a better idea to put it in ROTH IRA as well? And if it’s a good idea to throw into ROTH IRA too, how and where do I start?
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