Summer break is over and it’s now back to the questions sent into us this week with a common theme around the rising cost of living, looming inflation, gas prices, housing markets, stock market and more. We have received so many positive comments about these episodes. If you have a question for us please email to podcast@rocklandusa.com
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QUESTION 1
I am in need of a new car. Currently I am spending around 250 a month on gas, but have no car payment. I was thinking about a used 2020 Prius for the gas savings(will save ~140 on gas). I can get it for 500 a month financed at roughly 7% apr. The question is this, should I sell some stock to pay for it all or should I finance? I would not like to sell in this market and prefer to add to my positions in this downturn, but at 7% apr I would prefer to buy it upfront. Edit: I have to repair current car for 7k
QUESTION 2
Question for everyday millionaires out there. Once you hit your 1st million, what was your strategy to scale to your 2nd, 3rd, etc…?
QUESTION 3
I’m ready to start investing in ETFs. Which do you recommend? Also, any preference for Fidelity or Vanguard?
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