We have a great lineup of your social media questions and our thoughts! We have received so many positive comments about these episodes. If you have a question for us please email to podcast@rocklandusa.com
SOCIAL MEDIA QUESTION #1
Alexis – Hey Rock Stars! My husband and I are on baby step 2. He wants to buy the new PS5 game system. He wants to pay for it in cash by working overtime. While I’m happy that he wants to work hard and pay cash, I feel it’s not a good financial decision. We are not gazelle intense….but I would like to be even if it’s tough. We are paying off our debt in large amounts and doing amazing! Yay! But I want this debt gone as fast as possible… do you think this purchase is necessary in our situation? Do u think he should buy this? Thanks.
SOCIAL MEDIA QUESTION #2
Rachael – New to the group so I apologize if this question has already been asked – what is the recommended course of action with your 401K if you are being furloughed through your employer due to COVID-19? I’ve been a flight attendant with United Airlines and will be furloughed effective October 1st. I am going through steps right now to enlist into the Air Force active duty as far as my next career route. Thank you in advance.
SOCIAL MEDIA QUESTION #3
Jean – If i’m 46 years old and feel like it is a little too late in life for me to be able to save successfully for retirement . My question is, if I start a ROTH-IRA now and save, is it possible for me to become a millionaire by the time I get to 65?
SOCIAL MEDIA QUESTION #4
April – Have you seen the advertising for the ForEx (Foriegn Exchange Investing) training? What are your thoughts if so? I’ve seen it advertised really heavy on social media and a lot of my associates are in this? I feel like it’s similar to a pyramid scheme but I don’t know enough on the topic.
SOCIAL MEDIA QUESTION #5
Brenda – We have a family of 6 with our disabled daughter and huge medical debt. We are 55 and learning how to budget. I am trying to go back to work after caring for my kids for 20 years. I need a JOB. I am really trying but keep getting close, but no offers yet. The only way I can keep off the credit cards and continue to pay them off (mostly medical debt that insurance doesn’t cover), is to work. Any suggestions?
SOCIAL MEDIA QUESTION #6
Cory – I’ve been investing in VTSAX (Vanguard total stock market index fund) in my Roth-IRA for several years now. It’s performing great! That being said, I didn’t realize that this was slightly different than Dave Ramsey’s recommended four-different mutual funds until recently. Should I switch to mutual funds? (Can I switch easily?) Keep investing in VTSAX? What is your experience with VTSAX as your primarily investment for retirement?
SOCIAL MEDIA QUESTION #7
Olga – My 16th year old son has been working since 14. I am planning to open a Roth IRA account for him. What are your recommendations in regards to which financial institution, bank or brokerage company should I consider?
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