Listener Questions: Buying a Car on Credit, SIMPLE IRA, and Mutual Fund Investing – MTI145


Listener Questions: Buying a Car on Credit, SIMPLE IRA, and Mutual Fund Investing – MTI145

You’ve got questions? Our panel has answers.

Doug, Linda, Joe, and Miranda are back to offer their thoughts about Buying a Car on Credit, SIMPLE IRAs, and Mutual Fund Investing.

Ways to save more. We are about to buy a house. Apps to track spending. Joe named, Money Lion, Clarity Money, and Personal Capital. Miranda uses Money Dance because it reminds her of Quicken 2005. But Miranda mentioned the favorite if the show’s engineer Steve: YNAB (You Need A Budget). Linda likes the apps but gives suggestions on ways to sell things and make more money.

I’ve lost confidence in my mutual funds and have a hard time justifying paying management fees. Would ETFs be a better option for long-term investing?

My husband and I are 34 and have $275,000 in 401(k)s. We max out annually and contribute the max to backdoor ROTHS for the past two years. There are other savings and a manageable mortgage. I do have $80k in student loan debt but in a forgiveness program. We have an extra $3,000 a month to do something smart with.

Investing gurus have touted low-cost ETFs and dollar cost averaging as the young investor’s guide to getting started. I am surprised there has been no mention of trade commissions that some must pay when buying or selling stocks. The fee is hard to swallow when investing in small amounts. Is there any way to elevate the cost?

Miranda mentioned that it was in her best interest to finance her vehicle because her investments could do better than the interest rate of the loan. Can you talk about the devaluation of the asset (the car) relative to the decision – or was it not even a factor?

Unfortunate Retirement Procrastinator wants to know the order of investing and IRAs. He is married with a small car loan and a small mortgage. They made a profit on flipping a real estate property and wants to know where it the best place – or places – to put the money.

Today’s episode is sponsored by BUZZ Index


Proudly sponosred by Buzz indexes (BUZ on the NASDAQ)


Today’s Panelists

Doug Goldstein | Goldstein on Gelt
Linda P. Jones | Be Wealthy and Smart
Joe Saul-Sehy | Stacking Benjamins
Miranda Marquit | Planting Money Seeds

For a quick bio of each of our show participants, head on over to our panelists’ page.


Send us your questions for a future Listener Letters episode


About our sponsor, BUZZ Index

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