{"id":2937,"date":"2020-09-21T13:44:07","date_gmt":"2020-09-21T17:44:07","guid":{"rendered":"https:\/\/rockonthemoney.com\/?post_type=podcast&#038;p=2937"},"modified":"2020-09-21T13:44:08","modified_gmt":"2020-09-21T17:44:08","slug":"ep79-buy-a-new-playstation-5-or-xbox-series-x-while-paying-off-debt-is-it-too-late-to-save-for-retirement-at-age-46","status":"publish","type":"podcast","link":"https:\/\/netcast.one\/rotm2\/podcast\/ep79-buy-a-new-playstation-5-or-xbox-series-x-while-paying-off-debt-is-it-too-late-to-save-for-retirement-at-age-46\/","title":{"rendered":"EP79 &#8211; Buy a new Playstation 5 or XBOX Series X while paying off debt; Is it too late to save for retirement at age 46?"},"content":{"rendered":"\n<p>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<\/p>\n\n\n\n<p><strong>SOCIAL MEDIA QUESTION #1<\/strong><br>Alexis &#8211; 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\u2019m happy that he wants to work hard and pay cash, I feel it\u2019s not a good financial decision. We are not gazelle intense&#8230;.but I would like to be even if it\u2019s tough. We are paying off our debt in large amounts and doing amazing! Yay! But I want this debt gone as fast as possible&#8230; do you think this purchase is necessary in our situation? Do u think he should buy this? Thanks.<\/p>\n\n\n\n<p><strong>SOCIAL MEDIA QUESTION #2<\/strong><br>Rachael &#8211; New to the group so I apologize if this question has already been asked &#8211; what is the recommended course of action with your 401K if you are being furloughed through your employer due to COVID-19? I\u2019ve 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.<\/p>\n\n\n\n<p><strong>SOCIAL MEDIA QUESTION #3<\/strong><br>Jean &#8211; If i&#8217;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\u00a0 a ROTH-IRA now and save, is it possible for me to become a millionaire by the time I get to 65?<\/p>\n\n\n\n<p><strong>SOCIAL MEDIA QUESTION #4<\/strong><br>April &#8211; Have you seen the advertising for the ForEx (Foriegn Exchange Investing) training? What are your thoughts if so? I\u2019ve seen it advertised really heavy on social media and a lot of my associates are in this? I feel like it\u2019s similar to a pyramid scheme but I don\u2019t know enough on the topic.<\/p>\n\n\n\n<p><strong>SOCIAL MEDIA QUESTION #5<\/strong><br>Brenda &#8211; 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&#8217;t cover), is to work. Any suggestions?<\/p>\n\n\n\n<p><strong>SOCIAL MEDIA QUESTION #6<\/strong><br>Cory &#8211; I\u2019ve been investing in VTSAX (Vanguard total stock market index fund) in my Roth-IRA for several years now. It\u2019s performing great! That being said, I didn\u2019t realize that this was slightly different than Dave Ramsey\u2019s 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?<\/p>\n\n\n\n<p><strong>SOCIAL MEDIA QUESTION #7<\/strong><br>Olga &#8211; 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,\u00a0 bank or brokerage company should I consider?<\/p>\n\n\n\n<p>**This post may contain affiliate links, and we may be compensated if you make a purchase after clicking on the affiliate and\/or partner links.<\/p>\n\n\n\n<p><strong>Sponsored by Choice Realty Connect :<\/strong><a href=\"https:\/\/choicerealtyconnect.com\/\"><strong> https:\/\/choicerealtyconnect.com\/<\/strong><\/a> when you are wanting to buy or sell a home, condo or any type of property. Trust Amanda to help match you with up to 3 top agents in your area.<\/p>\n\n\n\n<p><strong>BESTOW &#8211; Fast, Free Quote on affordable online term life insurance. No exam, no waiting, no hassles: <\/strong><a href=\"https:\/\/tinyurl.com\/y79pywmw\"><strong>https:\/\/tinyurl.com\/y79pywmw<\/strong><\/a><\/p>\n\n\n\n<p><strong>WEBULL &#8211; Get 1 FREE stock valued up to $1,200 here<\/strong>: <a href=\"https:\/\/act.webull.com\/kol-us\/share.html?hl=en&amp;inviteCode=HvpbX35EsVmn\"><strong>https:\/\/act.webull.com\/kol-us\/share.html?hl=en&amp;inviteCode=HvpbX35EsVmn<\/strong><\/a><\/p>\n\n\n\n<p><strong>Website: <\/strong><a href=\"https:\/\/netcast.one\/rotm2\/\"><strong>https:\/\/netcast.one\/rotm2\/<\/strong><\/a><br><strong>Subscribe to the podcast &#8211; all links located here: <\/strong><a href=\"https:\/\/linktr.ee\/rocklandusa\"><strong>https:\/\/linktr.ee\/rocklandusa<\/strong><\/a><br><strong>Call us with your questions : 989-888-ROCK (7625)<\/strong><br><strong>Facebook Group: <\/strong><a href=\"https:\/\/www.facebook.com\/groups\/your401k\/\"><strong>https:\/\/www.facebook.com\/groups\/your401k\/<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 #1Alexis &#8211; Hey Rock Stars! My husband and I are on baby step 2. He wants to buy [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2794,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"episode_type":"audio","audio_file":"https:\/\/netcast.one\/rotm2\/wp-content\/uploads\/2020\/09\/ROTM-ep79.mp3","cover_image":"","cover_image_id":"","duration":"37:28","filesize":"34 MB","date_recorded":"21-09-2020","explicit":"","block":"","itunes_episode_number":"79","itunes_title":"Buy a new Playstation 5 or XBOX Series X while paying off debt; Is it too late to save for retirement at age 46?","itunes_season_number":"","itunes_episode_type":"full","filesize_raw":"36148106"},"tags":[105,119,348,350,349,351],"series":[234],"coauthors":[284],"episode_featured_image":"https:\/\/netcast.one\/rotm2\/wp-content\/uploads\/2020\/07\/ROTM-EP60-mp3-image.jpg","episode_player_image":"https:\/\/netcast.one\/rotm2\/wp-content\/uploads\/2020\/04\/album-rockonthemoney1410-10.jpg","download_link":"https:\/\/dts.podtrac.com\/redirect.mp3\/netcast.one\/rotm2\/podcast-download\/2937\/ep79-buy-a-new-playstation-5-or-xbox-series-x-while-paying-off-debt-is-it-too-late-to-save-for-retirement-at-age-46.mp3","player_link":"https:\/\/dts.podtrac.com\/redirect.mp3\/netcast.one\/rotm2\/podcast-player\/2937\/ep79-buy-a-new-playstation-5-or-xbox-series-x-while-paying-off-debt-is-it-too-late-to-save-for-retirement-at-age-46.mp3","audio_player":"<!--[if lt IE 9]><script>document.createElement('audio');<\/script><![endif]-->\n<audio class=\"wp-audio-shortcode\" id=\"audio-2937-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"https:\/\/dts.podtrac.com\/redirect.mp3\/netcast.one\/rotm2\/podcast-player\/2937\/ep79-buy-a-new-playstation-5-or-xbox-series-x-while-paying-off-debt-is-it-too-late-to-save-for-retirement-at-age-46.mp3?_=1\" \/><a href=\"https:\/\/dts.podtrac.com\/redirect.mp3\/netcast.one\/rotm2\/podcast-player\/2937\/ep79-buy-a-new-playstation-5-or-xbox-series-x-while-paying-off-debt-is-it-too-late-to-save-for-retirement-at-age-46.mp3\">https:\/\/dts.podtrac.com\/redirect.mp3\/netcast.one\/rotm2\/podcast-player\/2937\/ep79-buy-a-new-playstation-5-or-xbox-series-x-while-paying-off-debt-is-it-too-late-to-save-for-retirement-at-age-46.mp3<\/a><\/audio>","episode_data":{"playerMode":"dark","subscribeUrls":[],"rssFeedUrl":"https:\/\/netcast.one\/rotm2\/feed\/podcast\/rockonthemoney","embedCode":"<blockquote class=\"wp-embedded-content\" data-secret=\"NsdzVZyQp0\"><a href=\"https:\/\/netcast.one\/rotm2\/podcast\/ep79-buy-a-new-playstation-5-or-xbox-series-x-while-paying-off-debt-is-it-too-late-to-save-for-retirement-at-age-46\/\">EP79 &#8211; Buy a new Playstation 5 or XBOX Series X while paying off debt; Is it too late to save for retirement at age 46?<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/netcast.one\/rotm2\/podcast\/ep79-buy-a-new-playstation-5-or-xbox-series-x-while-paying-off-debt-is-it-too-late-to-save-for-retirement-at-age-46\/embed\/#?secret=NsdzVZyQp0\" width=\"500\" height=\"350\" title=\"&#8220;EP79 &#8211; Buy a new Playstation 5 or XBOX Series X while paying off debt; Is it too late to save for retirement at age 46?&#8221; &#8212; Rock on the Money\" data-secret=\"NsdzVZyQp0\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/* ]]> *\/\n<\/script>\n"},"_links":{"self":[{"href":"https:\/\/netcast.one\/rotm2\/wp-json\/wp\/v2\/podcast\/2937"}],"collection":[{"href":"https:\/\/netcast.one\/rotm2\/wp-json\/wp\/v2\/podcast"}],"about":[{"href":"https:\/\/netcast.one\/rotm2\/wp-json\/wp\/v2\/types\/podcast"}],"author":[{"embeddable":true,"href":"https:\/\/netcast.one\/rotm2\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/netcast.one\/rotm2\/wp-json\/wp\/v2\/comments?post=2937"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/netcast.one\/rotm2\/wp-json\/wp\/v2\/media\/2794"}],"wp:attachment":[{"href":"https:\/\/netcast.one\/rotm2\/wp-json\/wp\/v2\/media?parent=2937"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/netcast.one\/rotm2\/wp-json\/wp\/v2\/tags?post=2937"},{"taxonomy":"series","embeddable":true,"href":"https:\/\/netcast.one\/rotm2\/wp-json\/wp\/v2\/series?post=2937"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/netcast.one\/rotm2\/wp-json\/wp\/v2\/coauthors?post=2937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}