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S1: Broadcasting from Chicago, across North America and beyond its cast

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S1: and crew. Come as you are an experienced guide. Overcome

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S1: what seems impossible and live. As you never imagined. Start

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S1: your morning with a laugh.

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S2: Practical from the Bible. Tips and tricks to kill. Not tricks,

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S2: but tips and tricks.

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S3: Tips and tricks to kill. Tips and tricks.

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S1: Delivering the truth daily.

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S4: All of my attempts to, you know, prop myself up

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S4: with achievement in good works. Well, God wasn't impressed by that.

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S4: Even if other people were.

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S2: The gospel changes everything.

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S5: Freedom in Christ. Man, it's like that backpack of cement

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S5: just falling to the ground.

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S1: Now, from the call of Hope Studios, this is Carl

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S1: and crew. Ask the experts.

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S6: Week. And, boy, we've got one of your favorites here

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S6: with us right now. I'm going to bring them in.

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S6: Rob West. How you doing, my man?

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S7: Good morning. Great to be back with you.

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S6: Good morning. Good morning. Dun dun dun dun dun dun. Yeah, man,

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S6: it is so good to have you with us, Rob West.

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S6: Uh oh my goodness. I'm going to have you bookend

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S6: it for your hour. He's going to be with us

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S6: for an hour here. So if you know anything about

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S6: this man at all, you know that he has got

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S6: the answers on everything. With faith and finance. He is

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S6: the host of Faith and finance. And it's heard live

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S6: right here every day. Grab your listening slot for him.

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S6: You don't want to miss them. Boy, the content is amazing.

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S6: He's also CEO of Kingdom Advisors. He's got a wealth

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S6: of knowledge. If you've got financial questions for Rob West,

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S6: tee em up right now. 800 555 7898 800 555

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S6: 7898 okay, I want to book in with this. We

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S6: just had doctor Mike Yarborough on, uh, Dallas Theological Seminary president,

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S6: and he just gave a great call out for share.

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S6: We start next week. No, I'm not doing an ask today.

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S6: We're going to give a number and a website in

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S6: case you're not here, but my heart this year I've

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S6: got one big focus and that's to move from six, seven, 8%

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S6: participation rate somewhere in there. Of those that listen to

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S6: Moody Radio to get us up around 15, Mark said,

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S6: what do you say, Young Thunder? I think he said,

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S6: let's get that thing up there around 17 or something.

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S2: He said, why, why go there? Let's go 18, 19. Yeah,

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S2: he was in it.

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S6: Yeah. And you know, the one thing I want to

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S6: come out of the shoot with you on is that,

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S6: in fact, I did a message on stewardship last week

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S6: at one of our campuses here in Chicago. I'm convinced

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S6: that most of what you have to talk about are

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S6: great tools, but those tools are only as good as

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S6: a heart passion to leverage them for the glory of God.

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S6: That's why I think the great teaching, even for stewardship,

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S6: is a great commandment. Love the Lord your God with

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S6: all your heart, soul, mind, and strength. Rob, what do

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S6: you say about that?

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S7: Well, I think you're exactly right. You know, even when

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S7: we give, save and invest, real money can quietly take

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S7: the role of our ultimate treasure. You know, it can

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S7: subtly capture our hearts and shape what we value and

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S7: what we fear and where we place our trust. The

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S7: opportunity is when God becomes our ultimate treasure. Everything changes.

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S7: Giving then becomes an act of joy rather than obligation.

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S7: Stewardship becomes a way of life that reflects the character

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S7: of a generous and loving father. And so I think

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S7: the invitation today and into share next week is to say, God,

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S7: I want you to be my ultimate treasure, and therefore

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S7: money is a tool. I was with John Maxwell a

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S7: couple of weeks ago at an event, and John said,

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S7: we need to be rivers, not reservoirs. We don't want

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S7: God's provision to stop with us. We want it to

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S7: flow through us into God's activity. And that's the opportunity

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S7: today for everyone listening who loves moody radio, who wants

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S7: the gospel in their communities and to the ends of

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S7: the earth. Partner with us and be that river. River,

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S7: the river of God's provision into God's activity.

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S6: I love it. So boom, crew, I'm going to be

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S6: real candid with you. Some of you aren't going to

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S6: be here next week, or you have a forgetter switch

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S6: like myself and Young Thunder. We've got the same forgetter switch.

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S2: But I'm 30. I'm really scared for later in life.

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S6: You're gonna be okay. Uh, but I just want you

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S6: to know our phone lines. We've got people standing by.

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S6: We're not going to go crazy until next Tuesday. But

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S6: I do want you to be part of a little

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S6: mini mini miracle that myself. And about 800 prayers are

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S6: going to be asking God for all next week. 800

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S6: people praying along these lines that will move from around

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S6: that 7% participation rate in what God's doing here to that?

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S6: 15 1617? Dare we believe God for 20% participation? It

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S6: would be huge. And I'm just asking you to jump in.

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S6: So if you're not going to be here or you've

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S6: got the spiritual gift of priming pumps, it's (800) 600-9624. I'll

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S6: say it slowly because some of you are prompted by

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S6: the spirit right now, 800, 696 24 800, 696 24

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S6: or Moody Radio.com. That's Moody Radio.com. And I really mean this.

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S6: Rob from the bottom of my heart, man, I don't want,

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S6: I love I love to preach to hearts, not to pocketbooks.

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S6: And that's what Jesus did. And man, if we get

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S6: a revival around that buddy, we're Katy bar the door.

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S6: You know what I mean?

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S7: That's exactly right. It's an incredible opportunity for the body

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S7: of Christ to come together and say, we're on mission

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S7: for the gospel, because the gospel changes everything. And so

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S7: let's lock arms, let's each do our part and let's

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S7: fund Moody Radio together.

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S6: Yeah. Love it, love it, love it. I just looked

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S6: at the board and we got someone brand new to

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S6: the crew that just jumped in here not too long

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S6: ago with the gift, so it's it's really cool. Okay.

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S6: We are taking your questions for Rob West right now.

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S6: 800 555 7898. Any question you have regarding finances? I've

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S6: never heard him stumped yet. Not yet. Try to stump

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S6: the stump. The expert.

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S2: Wouldn't that be crazy if someone used, like, a money term?

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S2: And Rob's like, I don't know what that is. I

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S2: can't help you.

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S6: I don't know if that's going to happen. Give him

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S6: a call right now. Give us a call 800 555 7898.

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S6: Really looking for calls on this one? Sometimes it's hard

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S6: to get the full nuance of your question. You can

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S6: go ahead and text one in. We'll try to communicate it.

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S6: But 800, 555, 78, 98. I'm going to go to

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S6: the phone lines. Pamela. First time caller Fort Lauderdale, Florida.

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S6: What do you say? Pamela.

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S8: Uh, good morning to you all. Um, thank you so

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S8: much for taking my question. I'm wondering, I have like

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S8: ten years on my mortgage, which I owe under 100,000,

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S8: and my house is worth about over 500. And I

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S8: need a loan right now to do certain repairs in

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S8: my home. Is it a good idea to get a

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S8: home equity loan or a HELOC? I'm going to hang

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S8: up so I can hear the answer to this question.

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S6: Or yeah, that's dynamite. Pamela. Uh, boom, sister, thanks for

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S6: your call. What do you say, Rob?

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S7: Yeah, I like a home equity line of credit here.

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S7: It's the most flexible option. It is secured by your home,

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S7: you are allowed to borrow only what you need and

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S7: the interest rate is variable, which is a good thing

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S7: in this environment because we've been seeing interest rates come down.

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S7: They were at seven and three quarters and then they

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S7: were at seven. And and then we just recently, although

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S7: we've ticked back up, we got under 6% for the

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S7: first time. We saw a five handle on 30 year

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S7: mortgages for uh, for the first time in years, which

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S7: is great. Uh, so this home equity line of credit

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S7: for these repairs, which is a proper use, I think,

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S7: for your home equity tied to a variable interest rate

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S7: means that interest rate is going to come down as

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S7: interest rates fall. And again, you only borrow what you

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S7: need as you need it. So if it takes six

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S7: months or nine months to get this done, you just

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S7: pull it out in, you know, increments to pay the

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S7: contractors as needed. And then you focus on trying to

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S7: get it paid off as quick as you can. So

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S7: I think this is a great option for you. Again,

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S7: a home equity line of credit and shop around. Make

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S7: sure you get at least three offers. You could go

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S7: to Bankrate.com. A lot of times banks will do no docs,

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S7: no fees. So they'll, you know, even waive the appraisal.

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S7: They'll waive the origination costs. So shop around to not

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S7: only check the rate but the cost themselves.

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S6: Great. Taking your questions here for Rob West 800 555

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S6: 7898 I got a question here, Rob, that came in

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S6: via text. I don't even know what they're talking about,

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S6: but I'm going to give it to you. Here it is.

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S6: I'm 60 years old and plan to retire in the

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S6: next five years, God willing. How do I reallocate my

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S6: TSP funds which are currently in the CSI international funds?

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S6: I know what that is. Do I need to put

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S6: a percentage in a more conservative g fund?

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S7: Yeah. Good question. Uh, so at age 60, you know,

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S7: we want to think in terms of about a 5050

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S7: mix of your allocation as a starting point. Uh, now

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S7: you could go more conservative or more aggressive from there,

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S7: but I think 50 over 50 is right for a

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S7: 60 year old who's probably somewhere between 5 and 10

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S7: years out from retirement. So the nice thing about the

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S7: TSP is it makes it really simple. You've got the G,

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S7: the F, the C, the S and the I. What

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S7: are those? G is the government fund. Think of that

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S7: like a money market. F is fixed income. That's bonds.

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S7: And then you've got three stock funds in the TSP.

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S7: You've got the C which is the the large caps

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S7: like the S&P 500. You've got the S and the I.

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S7: So I don't think you really need anything in G

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S7: I would split the portfolio half in the F. That's

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S7: the bonds. And then the other half you're going to

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S7: want to put in stocks. I'd probably put two thirds

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S7: in the C and then split the rest in the

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S7: S and the I.

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S6: Excellent. Rob West, our guest right now we are getting

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S6: a ton of questions in here. 800 555 7898 800

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S6: 555 7898 going back to the phone lines, George in Charleston,

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S6: South Carolina, what do you say, George?

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S9: Hey. Thanks, guys. I really appreciate the ministry. Love you. Um, now,

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S9: so for Rob, I. I'm 63 and my wife is 62.

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S9: She has a she has a pension. Um, I am,

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S9: I guess you could say underemployed. So money is getting tight,

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S9: and we're wondering if she should take her Social Security

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S9: at age 62. Coming up in a few months.

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S6: So, Rob, I know that.

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S9: Part time as well.

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S6: Okay. Thank you. George. Do you need more information? I

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S6: know you, you want to hold on as long as

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S6: you can on those kind of things, don't you, Rob?

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S7: I really do, unless you need the money or you

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S7: don't believe. You know, you have longevity on your side.

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S7: None of us know the day or the hour the

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S7: Lord will call us home. But if you have. If

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S7: you're in good health, you know there's something to be

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S7: said about longevity risk, which is the fact that you

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S7: will outlive your money. So the longer we can wait

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S7: to take that Social Security and get closer to, if

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S7: not at full retirement age or beyond. That's going to

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S7: ensure that you get that full check that you were

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S7: entitled to based on your work history, and then you're

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S7: going to get the cost of living adjustments on that

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S7: larger amount for the rest of your life, which could

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S7: be a game changer. Maybe not now, but in your

222
00:12:03,540 --> 00:12:07,020
S7: 80s and 90s. Having that larger base is going to

223
00:12:07,020 --> 00:12:09,459
S7: be really key. The key is how are you going

224
00:12:09,460 --> 00:12:11,740
S7: to pay the bills? And I know money is tight. So,

225
00:12:11,900 --> 00:12:13,780
S7: you know, if you could find a way to get

226
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S7: some extra income coming in and delay it, I would

227
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S7: absolutely do it. If you can't, it's an option.

228
00:12:18,940 --> 00:12:22,140
S6: Yeah, I was I was looking at that. The amount

229
00:12:22,140 --> 00:12:26,580
S6: of increase with delay is quite significant for some isn't

230
00:12:26,580 --> 00:12:27,260
S6: it Rob.

231
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S7: Oh yeah. It's about 8% a year that you are

232
00:12:29,820 --> 00:12:33,980
S7: taking a permanent reduction when you take it early. Okay.

233
00:12:34,020 --> 00:12:35,820
S7: So that's a meaningful amount. I mean, if you take

234
00:12:35,820 --> 00:12:38,860
S7: it at 62 versus 67, where most people have full

235
00:12:38,860 --> 00:12:41,700
S7: retirement age, it's about a 30% reduction.

236
00:12:41,740 --> 00:12:45,590
S6: That's significant. Okay. Along these same lines text came in here. Boy,

237
00:12:45,590 --> 00:12:46,990
S6: it's a long one, but I'm going to try to

238
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S6: crunch down. What your understanding of Social Security rule. If

239
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S6: someone has ten years of no reported income and they

240
00:12:53,670 --> 00:12:57,709
S6: wait until full retirement age of 67 to take financial benefits,

241
00:12:57,710 --> 00:13:01,710
S6: will that amount properly be recomputed with my husband's Social

242
00:13:01,710 --> 00:13:05,469
S6: Security benefit amount since he's the higher earner? What do

243
00:13:05,470 --> 00:13:05,910
S6: you say?

244
00:13:06,429 --> 00:13:06,829
S1: Mhm.

245
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S7: Yeah. So those years don't disappear. They're simply counted as

246
00:13:11,350 --> 00:13:15,230
S7: zero in the 35 year calculation. So if somebody has

247
00:13:15,230 --> 00:13:19,150
S7: 25 years of earnings Social Security will still calculate the

248
00:13:19,150 --> 00:13:22,390
S7: benefit using 35. Because that's what they do. They do

249
00:13:22,429 --> 00:13:25,949
S7: what's called high 35. Your highest 35 years of earnings

250
00:13:25,950 --> 00:13:27,430
S7: is just that. Ten of those are going to be

251
00:13:27,470 --> 00:13:31,429
S7: at zero. Now if you have 35 in addition to

252
00:13:31,470 --> 00:13:34,910
S7: the the ten where you had no income, then obviously

253
00:13:34,910 --> 00:13:37,750
S7: they'll take the highest of your 35 earnings years to

254
00:13:37,790 --> 00:13:42,950
S7: calculate your benefit. And each additional year you work even

255
00:13:42,950 --> 00:13:47,630
S7: once you start taking retirement, Social Security benefit will replace

256
00:13:47,630 --> 00:13:50,350
S7: one of those zero years and increase your benefit along

257
00:13:50,350 --> 00:13:52,030
S7: the way. And so that's one of the things that

258
00:13:52,030 --> 00:13:53,670
S7: will work for you if you keep working.

259
00:13:54,030 --> 00:13:57,309
S6: Excellent. All right. A quick one here. Would Jesus invest

260
00:13:57,309 --> 00:13:58,309
S6: in Bitcoin.

261
00:14:01,630 --> 00:14:05,990
S3: Ah hold it I love it. Oh I love that.

262
00:14:06,550 --> 00:14:11,429
S7: Oh you know when I look at God's word uh

263
00:14:12,030 --> 00:14:16,510
S7: Proverbs 1311 comes to mind. Wealth gained hastily will dwindle.

264
00:14:16,550 --> 00:14:20,350
S7: But whoever gathers little by little will increase it. Uh,

265
00:14:20,350 --> 00:14:24,430
S7: you know, I think just the, the speculative, volatile nature

266
00:14:24,430 --> 00:14:27,790
S7: of Bitcoin would, uh, would cause him to pass, in

267
00:14:27,790 --> 00:14:29,510
S7: my view, a little too speculative.

268
00:14:30,310 --> 00:14:33,430
S6: Foxes have holes, birds have nests. But the Son of

269
00:14:33,430 --> 00:14:36,230
S6: Man has no place to lay his head. I think

270
00:14:36,230 --> 00:14:39,390
S6: he was pretty secure. Secure in his retirement plan, if

271
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S6: you ask me. Oh my goodness. All right. More questions

272
00:14:42,760 --> 00:14:45,280
S6: for Rob West. They're coming in like crazy right now.

273
00:14:45,280 --> 00:14:54,320
S6: You can call or text (800) 555-7898. 800 555 7898.

274
00:14:56,200 --> 00:15:00,400
S1: You've got questions. They've got answers. It's Ask the Experts

275
00:15:00,440 --> 00:15:01,920
S1: week with Carl and crew.

276
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S6: I'm going to confer a doctorate on them for today.

277
00:15:05,440 --> 00:15:07,880
S6: Doctor Rob West is with us right now. How about that?

278
00:15:07,880 --> 00:15:09,800
S6: Rob little confer.

279
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S7: See if I can get my kids to call me

280
00:15:11,240 --> 00:15:13,160
S7: that when I come down to breakfast in the morning.

281
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S6: Rob.

282
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S7: What? That tells me that won't go very well.

283
00:15:17,040 --> 00:15:19,920
S6: Oh, faith. Faith and finance. And we're going to have

284
00:15:19,920 --> 00:15:21,720
S6: links for you and everything, but we got a lot

285
00:15:21,760 --> 00:15:26,920
S6: of questions pouring in here. 800 555 7898 we rarely

286
00:15:26,920 --> 00:15:29,920
S6: do this in the mornings, but boy, this is fun. Uh,

287
00:15:29,960 --> 00:15:34,400
S6: somebody starts with college is outrageous. Yes. And amen. My

288
00:15:34,400 --> 00:15:37,480
S6: daughter goes away soon. We locked up 100 K in

289
00:15:37,480 --> 00:15:40,560
S6: a seven month CD to earn some extra cash. We

290
00:15:40,640 --> 00:15:45,320
S6: saved some in bright directions. 529 uh, any other way

291
00:15:45,320 --> 00:15:48,240
S6: to invest to make our money work for us?

292
00:15:48,640 --> 00:15:51,000
S7: Mm. No, I think you're on the right track here.

293
00:15:51,040 --> 00:15:52,960
S7: I mean, the key is the time horizon, right? So

294
00:15:52,960 --> 00:15:55,840
S7: if we have less than five years on the time horizon,

295
00:15:55,840 --> 00:15:58,040
S7: which you will, because that money is going to need

296
00:15:58,040 --> 00:16:00,960
S7: to go out over the next four years, then you

297
00:16:00,960 --> 00:16:03,720
S7: really want to keep it on the most conservative end

298
00:16:03,720 --> 00:16:07,600
S7: of the spectrum. The return is less about the return

299
00:16:07,600 --> 00:16:09,960
S7: on your money, and it's more about the return of

300
00:16:09,960 --> 00:16:13,360
S7: your money. So we don't want your money invested in something.

301
00:16:13,360 --> 00:16:15,400
S7: And then all of a sudden we find ourselves at

302
00:16:15,400 --> 00:16:18,520
S7: a recession and the market's down 20 or 30% and

303
00:16:18,520 --> 00:16:21,400
S7: you're selling at a loss. So I think you're talking CDs,

304
00:16:21,520 --> 00:16:25,600
S7: you're talking treasuries, you're talking high yield savings. Those things

305
00:16:25,600 --> 00:16:28,520
S7: that are going to give you safety, liquidity, but also

306
00:16:28,640 --> 00:16:30,480
S7: a decent rate of return. In the meantime.

307
00:16:30,880 --> 00:16:34,080
S6: Get a question here. I've seen this hack, uh, being

308
00:16:34,080 --> 00:16:37,680
S6: spoken of all over the internet, and they're asking, what

309
00:16:37,680 --> 00:16:40,690
S6: do you think, Rob, of the theory to take Social

310
00:16:40,690 --> 00:16:44,290
S6: Security early and invest it. I've got a follow up question.

311
00:16:44,290 --> 00:16:47,130
S6: What's the percentage watermark you have to hit each year

312
00:16:47,130 --> 00:16:50,490
S6: to make that financially responsible?

313
00:16:50,530 --> 00:16:54,210
S7: Rob yeah, yeah. The challenge with that is if in fact,

314
00:16:54,210 --> 00:16:58,530
S7: you're giving up 8% a year. And keep in mind, uh,

315
00:16:58,530 --> 00:17:04,290
S7: you know, you've got to live about 12 years beyond, uh,

316
00:17:04,490 --> 00:17:07,050
S7: the period you start taking it in order to be

317
00:17:07,050 --> 00:17:10,290
S7: paid back in the form of a higher check for

318
00:17:10,290 --> 00:17:13,010
S7: what you gave up in the years you didn't take it.

319
00:17:13,010 --> 00:17:16,010
S7: So we're assuming you've got a what I'll call a

320
00:17:16,010 --> 00:17:19,609
S7: normal life expectancy, which for men and women is about

321
00:17:19,609 --> 00:17:23,970
S7: 82 and 83, respectively. Today. Once you hit age 65,

322
00:17:24,170 --> 00:17:27,570
S7: that's your life expectancy. And so if you out, you know,

323
00:17:27,609 --> 00:17:31,010
S7: if you live the normal life expectancy, then you're going

324
00:17:31,050 --> 00:17:33,370
S7: to be better off waiting. Because the reality is, if

325
00:17:33,369 --> 00:17:36,570
S7: you take that money and you invest it in a

326
00:17:36,570 --> 00:17:40,260
S7: taxable account, you've got to pay the capital gains and

327
00:17:40,260 --> 00:17:43,940
S7: then get a return. That's better than the increase you're

328
00:17:43,940 --> 00:17:46,980
S7: getting annually from Social Security by waiting, which again, we

329
00:17:46,980 --> 00:17:48,780
S7: said is about 8%. So you're going to have to

330
00:17:48,780 --> 00:17:52,180
S7: get north of 9% in order to pay the taxes

331
00:17:52,180 --> 00:17:55,379
S7: and then make up the difference. And, you know, I

332
00:17:55,380 --> 00:17:58,580
S7: think you're just better off getting that that higher check

333
00:17:58,580 --> 00:18:01,899
S7: from Social Security. And again, you're now starting with a

334
00:18:01,900 --> 00:18:05,620
S7: higher watermark, which means all future cost of living adjustments

335
00:18:05,619 --> 00:18:07,340
S7: are on that bigger number as well.

336
00:18:07,940 --> 00:18:10,939
S6: Excellent. Okay. Ton of questions. I'm going to get to

337
00:18:10,980 --> 00:18:13,619
S6: as many as we can. Wendy and Davie, Florida. What

338
00:18:13,660 --> 00:18:15,180
S6: do you what's your question for Rob?

339
00:18:16,140 --> 00:18:20,220
S10: Good morning. Um, I just basically I'm a teacher. Um,

340
00:18:20,220 --> 00:18:23,780
S10: I don't have a huge income, but I've invested in

341
00:18:23,780 --> 00:18:26,659
S10: a couple of empty lots, like, years ago, and they're

342
00:18:26,820 --> 00:18:29,340
S10: they've gone up quite a bit significantly, and it seems

343
00:18:29,340 --> 00:18:32,500
S10: to be the only thing I really understand for some reason.

344
00:18:32,740 --> 00:18:35,260
S10: Do you think in general, that's a pretty safe way

345
00:18:35,260 --> 00:18:38,420
S10: to invest in things like, you know, Quarter Acres? Or

346
00:18:38,420 --> 00:18:41,300
S10: is it better to do something like mutual funds or stocks?

347
00:18:41,500 --> 00:18:43,260
S6: We got a land baron here, Rob.

348
00:18:43,619 --> 00:18:46,140
S7: I love it. You know, I love the idea of

349
00:18:46,140 --> 00:18:49,140
S7: you investing in real estate. Obviously, you've done well. And

350
00:18:49,140 --> 00:18:51,220
S7: you're right, there's something about being able to go out

351
00:18:51,220 --> 00:18:53,980
S7: and and put your hands in the dirt and see

352
00:18:53,980 --> 00:18:56,220
S7: what you own, as opposed to something that's kind of

353
00:18:56,260 --> 00:18:59,100
S7: out there, you know, trading on an exchange, and you

354
00:18:59,100 --> 00:19:02,300
S7: can't really get your arms around it. Um, the upside

355
00:19:02,300 --> 00:19:04,620
S7: is just what you said. I mean, you can have

356
00:19:04,619 --> 00:19:07,660
S7: some nice growth there. The risks are, number one, there's

357
00:19:07,660 --> 00:19:11,139
S7: no income. So if you were to start slowly investing

358
00:19:11,140 --> 00:19:13,980
S7: in rental properties, not only do you get the appreciation,

359
00:19:13,980 --> 00:19:17,859
S7: but you get the cash flow. Um, they're harder to sell.

360
00:19:17,900 --> 00:19:21,100
S7: Land is harder to sell than houses. They're very market

361
00:19:21,100 --> 00:19:25,220
S7: dependent as well. The value depends on future development in

362
00:19:25,220 --> 00:19:29,940
S7: that particular area. And if there's no infrastructure, you know,

363
00:19:29,980 --> 00:19:33,740
S7: like roads or utilities or zoning, you know, that can

364
00:19:33,740 --> 00:19:37,750
S7: put a damper on the value over time. So I

365
00:19:37,750 --> 00:19:41,669
S7: would say you've done well. You know, let's keep those. Um,

366
00:19:41,670 --> 00:19:45,550
S7: and then maybe diversify by starting to invest in a

367
00:19:45,550 --> 00:19:48,630
S7: properly diversified stock and bond portfolio. And if you need

368
00:19:48,630 --> 00:19:50,750
S7: some help with that, you could connect with a certified

369
00:19:50,750 --> 00:19:54,350
S7: Kingdom advisor at Find a Comm or our friends at

370
00:19:54,350 --> 00:19:57,710
S7: Sound Investing. Org could give you some suggestions, but I

371
00:19:57,710 --> 00:20:00,590
S7: think having both buckets working for you is the best

372
00:20:00,590 --> 00:20:01,630
S7: plan long term.

373
00:20:02,109 --> 00:20:07,910
S6: Uh, quick question, Rob, with regard to economy, how does property, uh,

374
00:20:07,910 --> 00:20:12,350
S6: raw land or real estate track with the general economy?

375
00:20:12,390 --> 00:20:17,109
S6: Does it track pretty? Does it parallel stocks and the

376
00:20:17,150 --> 00:20:19,270
S6: kind of the mood of the economy?

377
00:20:19,750 --> 00:20:23,670
S7: Yeah. Uh, yes. I mean, there are different factors. Overall,

378
00:20:23,670 --> 00:20:28,229
S7: the economy's strength is important. Interest rates obviously play a

379
00:20:28,230 --> 00:20:31,270
S7: key part. Um, and so you have to, you know,

380
00:20:31,310 --> 00:20:34,430
S7: just look at that over time. Historically now, this has

381
00:20:34,430 --> 00:20:36,870
S7: not been true recently because we've had a dramatic run

382
00:20:36,910 --> 00:20:41,870
S7: up in housing prices. But historically, stocks do about 9%

383
00:20:42,070 --> 00:20:45,150
S7: a year on average with dividends. Residential real estate has

384
00:20:45,150 --> 00:20:47,989
S7: done closer to five. And so, you know, if you

385
00:20:47,990 --> 00:20:50,950
S7: just look over the long haul a gap. Yeah, there's

386
00:20:50,950 --> 00:20:54,429
S7: a gap there. Now the rental income, if you're talking

387
00:20:54,430 --> 00:20:58,389
S7: about an investment property obviously can add more. I mean

388
00:20:58,430 --> 00:21:01,990
S7: depending on the property that could add three to even 8%

389
00:21:02,190 --> 00:21:05,030
S7: a year. Uh, you know, on top of that. And

390
00:21:05,030 --> 00:21:06,830
S7: so that can be nice. You've got to be careful

391
00:21:06,869 --> 00:21:09,710
S7: though not to use too much debt and get over levered.

392
00:21:09,710 --> 00:21:13,470
S7: But I would say historically having both asset classes working

393
00:21:13,470 --> 00:21:15,470
S7: for you stocks and bonds and real estate is a

394
00:21:15,470 --> 00:21:16,110
S7: good idea.

395
00:21:16,150 --> 00:21:19,510
S6: Good. Darren. First time caller. Chicago, Illinois. What's your question

396
00:21:19,510 --> 00:21:20,390
S6: for Rob West?

397
00:21:21,230 --> 00:21:24,990
S11: Yeah, guys. Thanks, Rob. Um, my father is 88 years old,

398
00:21:24,990 --> 00:21:28,190
S11: my mom's 83, and my dad just reached a point

399
00:21:28,190 --> 00:21:30,790
S11: where he, uh, my mom can't take care of him anymore.

400
00:21:31,150 --> 00:21:34,360
S11: And my parents, unfortunately, don't have any reserves. They don't

401
00:21:34,359 --> 00:21:38,160
S11: have any money at all. They're relying 100% on Social Security.

402
00:21:38,200 --> 00:21:40,840
S11: My sister and I are trying to help out. What

403
00:21:40,840 --> 00:21:43,360
S11: advice do you have for us that you know? My dad,

404
00:21:43,359 --> 00:21:46,880
S11: I think, gets about 2200 a month. And I think

405
00:21:46,880 --> 00:21:50,399
S11: my mom gets about 1000 a month. Um, we're looking

406
00:21:50,440 --> 00:21:53,680
S11: to put him in a some kind of home, but

407
00:21:53,720 --> 00:21:56,480
S11: we need help kind of navigating those waters. What's your

408
00:21:56,480 --> 00:21:57,439
S11: advice for us?

409
00:21:57,960 --> 00:21:58,280
S1: Mhm.

410
00:21:58,320 --> 00:22:00,920
S7: Yeah. Well, I love that you're caring for your mom

411
00:22:00,920 --> 00:22:03,800
S7: and dad and walking alongside them. I would say there's

412
00:22:03,800 --> 00:22:05,760
S7: a couple of things. Number one is I would start

413
00:22:05,760 --> 00:22:09,920
S7: with Medicaid eligibility. So since they have very limited income

414
00:22:09,920 --> 00:22:13,639
S7: no reserves, Medicaid may ultimately be the program that helps

415
00:22:13,640 --> 00:22:16,560
S7: them pay for long term care if they need it. Now,

416
00:22:16,600 --> 00:22:19,719
S7: if you can cover that. Great. You know, they come

417
00:22:19,720 --> 00:22:21,360
S7: to live with one of you guys. Great. But at

418
00:22:21,359 --> 00:22:23,880
S7: some point, if they need nursing home care or some

419
00:22:23,880 --> 00:22:27,480
S7: in-home care services, you know, each state has different rules.

420
00:22:27,480 --> 00:22:30,040
S7: And so you're going to want to contact the local

421
00:22:30,040 --> 00:22:33,240
S7: Medicaid office. Uh, you know, to find out whether they

422
00:22:33,240 --> 00:22:36,040
S7: will qualify. And then you'd want to start looking at Medicaid,

423
00:22:36,040 --> 00:22:40,560
S7: accepting facilities. Not all nursing homes accept Medicaid. Many do.

424
00:22:40,600 --> 00:22:42,639
S7: And so you're going to want to look at whether

425
00:22:42,640 --> 00:22:46,080
S7: they accept Medicaid residents and whether that happens from day

426
00:22:46,080 --> 00:22:50,200
S7: one or only after. Private pay. And then you're going

427
00:22:50,240 --> 00:22:52,320
S7: to want to just, you know, get a budget together,

428
00:22:52,359 --> 00:22:54,960
S7: perhaps get an elder care attorney as well, just to

429
00:22:55,000 --> 00:22:57,720
S7: look over their affairs and make sure everything is set

430
00:22:57,760 --> 00:23:00,960
S7: up properly. Um, but I love the fact that you're

431
00:23:00,960 --> 00:23:03,800
S7: walking alongside them. And I think if you take these steps,

432
00:23:03,840 --> 00:23:06,159
S7: you know you'll be well positioned to make the decisions

433
00:23:06,160 --> 00:23:07,360
S7: down the road as needed.

434
00:23:07,760 --> 00:23:09,480
S6: Okay, I'm going to go lightning round on a couple

435
00:23:09,520 --> 00:23:11,840
S6: quick ones here. Rob, we got a woman texting in

436
00:23:11,880 --> 00:23:14,800
S6: saying I made the mistake of co-signing for my daughter's

437
00:23:14,800 --> 00:23:17,960
S6: student loans because she is unable to work. Struggling with

438
00:23:17,960 --> 00:23:22,720
S6: some mental issues right now. Uh, what is this mom

439
00:23:22,720 --> 00:23:25,720
S6: to do? There's a long backstory there, but interest rates

440
00:23:25,720 --> 00:23:28,000
S6: are high and I'm looking to refinance. What do you

441
00:23:28,000 --> 00:23:29,000
S6: say to this mama?

442
00:23:29,400 --> 00:23:29,840
S1: Mhm.

443
00:23:29,880 --> 00:23:32,290
S7: Yeah I know this is a tough one, and I'm

444
00:23:32,290 --> 00:23:36,170
S7: so sorry to hear about your daughter's struggles. Um, you know,

445
00:23:36,210 --> 00:23:39,689
S7: I would I would contact the loan servicer. If there

446
00:23:39,690 --> 00:23:42,650
S7: are mental health issues, the first step is to explain

447
00:23:42,650 --> 00:23:44,930
S7: the situation they may be able to offer if this

448
00:23:44,930 --> 00:23:48,890
S7: is needed. Forbearance, which is a temporary pause or deferment.

449
00:23:48,890 --> 00:23:51,770
S7: There could even be income driven repayment plans if they're

450
00:23:51,770 --> 00:23:54,729
S7: federal loans. You do want to know whether it's federal

451
00:23:54,730 --> 00:23:57,850
S7: or private, because there's more flexibility on the payment options

452
00:23:57,850 --> 00:24:01,970
S7: with the federal loans, private loans have fewer options. You

453
00:24:02,010 --> 00:24:05,850
S7: could look into a disability discharge. So if the mental

454
00:24:05,850 --> 00:24:08,810
S7: health condition is severe and prevents her from working, she

455
00:24:08,810 --> 00:24:12,129
S7: may qualify for a discharge on those. And then I

456
00:24:12,130 --> 00:24:14,450
S7: would say, you know, you just need to know that

457
00:24:14,450 --> 00:24:19,010
S7: you're legally responsible. So communicate early with the lender, avoid

458
00:24:19,010 --> 00:24:23,969
S7: missed payments if possible and explore, you know re repayment

459
00:24:23,970 --> 00:24:27,090
S7: adjustments if they're needed for you to stay in good standing.

460
00:24:27,490 --> 00:24:32,210
S6: Okay. Another quick one here. Grandparents talking. College 529 account

461
00:24:32,210 --> 00:24:34,490
S6: or tax free IRA for grandkids.

462
00:24:35,250 --> 00:24:37,930
S7: Yeah, I like the 529 a lot. You get that

463
00:24:37,930 --> 00:24:40,890
S7: tax free growth. You can put in a lot more

464
00:24:40,890 --> 00:24:43,930
S7: on an annual basis than you can with the IRA,

465
00:24:44,369 --> 00:24:47,129
S7: and you've got more flexibility, flexibility. If it's used for

466
00:24:47,130 --> 00:24:51,609
S7: qualified educational expenses, it comes out 100% tax free on

467
00:24:51,609 --> 00:24:54,170
S7: the growth, the after tax dollars going in. But the

468
00:24:54,170 --> 00:24:57,890
S7: growth is tax free. And if they don't use it

469
00:24:57,890 --> 00:25:00,410
S7: all they get it out. If they get a scholarship

470
00:25:00,410 --> 00:25:03,210
S7: or grant with no problem. But if it's still in

471
00:25:03,210 --> 00:25:06,010
S7: there and those scholarships and grants, they can either transfer

472
00:25:06,050 --> 00:25:09,490
S7: it to another grandchild or now they can roll it

473
00:25:09,490 --> 00:25:13,090
S7: into a Roth IRA over time, up to 35,000, and

474
00:25:13,090 --> 00:25:16,169
S7: set that child up for a nice nest egg for

475
00:25:16,170 --> 00:25:18,889
S7: the long term. So I think the 529 is the

476
00:25:18,890 --> 00:25:19,490
S7: winner there.

477
00:25:19,530 --> 00:25:23,730
S6: Okay. AI investments thumbs up, thumbs down Rob.

478
00:25:24,369 --> 00:25:27,650
S7: Yeah. You know AI is has gotten really overheated and

479
00:25:27,650 --> 00:25:30,900
S7: it's been selling off as of late. I would just say,

480
00:25:31,100 --> 00:25:32,859
S7: you know, be careful there. We don't want to be

481
00:25:32,859 --> 00:25:36,900
S7: too highly concentrated in one particular sector, especially one that's

482
00:25:36,900 --> 00:25:39,740
S7: as high flying. I mean, think about AI right now,

483
00:25:40,180 --> 00:25:45,700
S7: kind of like the.com, you know, in, uh, 1999, 2000.

484
00:25:45,780 --> 00:25:48,500
S7: I mean, you know, when Pets.com, uh, put all they

485
00:25:48,500 --> 00:25:50,580
S7: did was put.com at the end of their name and,

486
00:25:50,619 --> 00:25:52,699
S7: you know, went through the roof. And, you know, we

487
00:25:52,700 --> 00:25:55,380
S7: eventually found out which ones are the winners and the losers.

488
00:25:55,540 --> 00:25:58,740
S7: We're a little bit in that situation right now in

489
00:25:58,780 --> 00:26:01,260
S7: terms of which companies are going to be the winners.

490
00:26:01,260 --> 00:26:03,980
S7: There's still a lot of carnage that's going to happen

491
00:26:03,980 --> 00:26:06,419
S7: in that space, so just make sure it's an appropriate

492
00:26:06,420 --> 00:26:11,219
S7: allocation only to the the higher, uh, you know, more

493
00:26:11,220 --> 00:26:13,659
S7: aggressive portion of your stock portfolio.

494
00:26:13,700 --> 00:26:17,540
S6: Okay. This is a common one, Rob I have parent

495
00:26:17,540 --> 00:26:21,300
S6: plus loan for my daughter's college. She graduated five years ago.

496
00:26:21,300 --> 00:26:24,379
S6: Payments are becoming unaffordable. I'm currently in a plan where

497
00:26:24,420 --> 00:26:27,940
S6: every two years the payments will increase. Is there anything

498
00:26:27,940 --> 00:26:31,420
S6: I can do to make payments lower? And I'm going

499
00:26:31,460 --> 00:26:34,300
S6: to add a question to her question. And that is,

500
00:26:34,300 --> 00:26:37,100
S6: should I be asking my kid to help with this thing?

501
00:26:37,900 --> 00:26:41,260
S7: Hmm. Yeah, yeah. Great question. Uh, you know, I would

502
00:26:41,260 --> 00:26:44,139
S7: say look at the current repayment plan. Uh, you know,

503
00:26:44,180 --> 00:26:47,060
S7: Parent plus loans are automatically put on that standard ten

504
00:26:47,100 --> 00:26:50,660
S7: year repayment plan, which has the highest monthly amount, uh,

505
00:26:50,700 --> 00:26:53,419
S7: if the loan was consolidated or if you're on a

506
00:26:53,420 --> 00:26:56,700
S7: graduated plan, payments can increase every two years. So just

507
00:26:56,700 --> 00:27:00,659
S7: know what you're dealing with there. Consider consolidating into a

508
00:27:00,660 --> 00:27:03,900
S7: direct consolidation loan. That's not going to help with the

509
00:27:03,900 --> 00:27:06,740
S7: interest rate, but it does open the door to additional

510
00:27:06,740 --> 00:27:12,300
S7: repayment options. And then I would say refinance with caution because, uh,

511
00:27:12,420 --> 00:27:15,379
S7: you know, you may be able to save some interest,

512
00:27:15,380 --> 00:27:19,260
S7: but you would potentially lose those federal protections in terms

513
00:27:19,260 --> 00:27:21,420
S7: of helping. I think it goes back to what was

514
00:27:21,420 --> 00:27:25,060
S7: that original agreement. Uh, you know, remember, you're on the

515
00:27:25,060 --> 00:27:27,990
S7: hook for this, but what was communicated, you know, in

516
00:27:28,030 --> 00:27:31,310
S7: terms of the plan early and we want to honor that.

517
00:27:31,310 --> 00:27:34,429
S7: But if the, you know, kids were the one taking

518
00:27:34,430 --> 00:27:37,230
S7: responsibility from this from day one, I'd hold them accountable

519
00:27:37,230 --> 00:27:37,710
S7: to that.

520
00:27:37,750 --> 00:27:38,230
S3: Yeah.

521
00:27:38,710 --> 00:27:43,310
S6: Tough stuff, but good information. Asking the experts all week

522
00:27:43,310 --> 00:27:46,470
S6: long today, Rob West know you didn't sleep in and

523
00:27:46,470 --> 00:27:50,190
S6: listening to faith and faith. Fi, um, know you're. We've

524
00:27:50,190 --> 00:27:52,750
S6: got Rob West live with Carl and crew here, and

525
00:27:52,750 --> 00:27:59,030
S6: we're taking more of your questions. 800 555 7898 800

526
00:27:59,070 --> 00:28:01,390
S6: 555 7898.

527
00:28:02,030 --> 00:28:04,990
S1: You're listening to Carl and crew on Moody Radio.

528
00:28:05,950 --> 00:28:10,030
S6: Rob Quick one came in here. Fiduciary or just financial planner?

529
00:28:10,030 --> 00:28:10,790
S6: What do you say?

530
00:28:11,310 --> 00:28:13,790
S7: Yeah, I mean, it depends on what you're looking for.

531
00:28:13,830 --> 00:28:16,830
S7: If you're just looking for a financial plan, you're hiring

532
00:28:16,830 --> 00:28:22,550
S7: someone to actually do that comprehensive plan, then that's not necessary.

533
00:28:22,590 --> 00:28:26,750
S7: If you are looking for somebody to manage your assets,

534
00:28:26,750 --> 00:28:29,310
S7: then I like you having a fiduciary. And that's just

535
00:28:29,310 --> 00:28:32,390
S7: simply a term that means they're legally obligated to put

536
00:28:32,390 --> 00:28:36,030
S7: their your interests above their own in terms of how

537
00:28:36,030 --> 00:28:39,710
S7: they manage and recommend certain products or investments.

538
00:28:40,030 --> 00:28:42,990
S6: Ask the experts. Rob West, one of our faves with

539
00:28:42,990 --> 00:28:46,510
S6: us right now. I can't believe you do this. Every day.

540
00:28:46,510 --> 00:28:48,710
S6: They come at you, don't they, buddy? This is something.

541
00:28:48,710 --> 00:28:49,150
S1: Else.

542
00:28:49,670 --> 00:28:50,270
S3: You know.

543
00:28:50,310 --> 00:28:52,510
S7: The team calculated it the other day. I think I've

544
00:28:52,510 --> 00:28:56,830
S7: answered like 30,000 questions over the last six years.

545
00:28:57,110 --> 00:28:58,070
S3: Oh my.

546
00:28:58,190 --> 00:29:02,550
S7: Goodness. But, uh, you know, the great thing is that

547
00:29:02,550 --> 00:29:04,710
S7: most people who are calling I mean, this is what's

548
00:29:04,710 --> 00:29:07,510
S7: so amazing about the Moody Radio family. And you and

549
00:29:07,510 --> 00:29:10,070
S7: Ali know this, Carl. You know, these these are men

550
00:29:10,070 --> 00:29:12,190
S7: and women that are listening that just want to be

551
00:29:12,190 --> 00:29:14,750
S7: found faithful. They want to know what is the wise thing?

552
00:29:14,750 --> 00:29:16,710
S7: What does God want me to do? They want to

553
00:29:16,710 --> 00:29:21,670
S7: find God's heart as it relates to their journey with him.

554
00:29:21,670 --> 00:29:24,600
S7: And that, you know, in my little hour of the day.

555
00:29:24,600 --> 00:29:26,640
S7: It's really just about how do I find God's heart

556
00:29:26,640 --> 00:29:29,240
S7: for my finances? And so it's such a privilege to

557
00:29:29,280 --> 00:29:31,240
S7: engage with listeners every day on these topics.

558
00:29:31,280 --> 00:29:33,800
S6: If we can't get to your question, he's got answers.

559
00:29:33,800 --> 00:29:38,800
S6: Text the word money. Get to this faith and finance site.

560
00:29:39,480 --> 00:29:44,640
S6: Text the word money right now to 800 555 7898

561
00:29:44,680 --> 00:29:49,680
S6: 800 555 7898. Going back to the phone lines Gina

562
00:29:49,680 --> 00:29:52,760
S6: in Carpentersville, Illinois, what's your question for Rob?

563
00:29:54,040 --> 00:29:57,720
S12: Okay, I understand what you were saying earlier about delaying

564
00:29:57,760 --> 00:30:01,880
S12: taking Social Security, but is there ever a situation when

565
00:30:01,880 --> 00:30:04,520
S12: it would be wise to draw early, such as having

566
00:30:04,520 --> 00:30:09,520
S12: your spouse, your husband be 11 years older and already drawing,

567
00:30:09,560 --> 00:30:12,320
S12: and most likely you would outlive him and convert to

568
00:30:12,360 --> 00:30:16,000
S12: his higher range? Anyway, I'm just wondering if that might

569
00:30:16,000 --> 00:30:17,800
S12: be the case at certain times.

570
00:30:18,960 --> 00:30:23,600
S7: Yes. Uh, you know, there certainly are situations where it

571
00:30:23,600 --> 00:30:27,240
S7: can make sense, and a spouse that's older and already

572
00:30:27,240 --> 00:30:31,480
S7: receiving benefits can absolutely be one of them. Uh, so

573
00:30:31,640 --> 00:30:35,480
S7: what would those look like? Well, generally, again, delaying increases

574
00:30:35,480 --> 00:30:39,240
S7: your benefit. So from a math standpoint waiting produces that

575
00:30:39,240 --> 00:30:43,920
S7: larger lifetime benefit however shorter life expectancy. So someone has

576
00:30:43,920 --> 00:30:47,120
S7: health concerns or a family history that could mean you

577
00:30:47,120 --> 00:30:50,200
S7: take it early. You have immediate income needs to your

578
00:30:50,200 --> 00:30:53,120
S7: point spousal age difference. So if a spouse is much

579
00:30:53,120 --> 00:30:58,120
S7: older and already drawing benefits, the household may already have

580
00:30:58,120 --> 00:31:02,320
S7: a Social Security income stream. And so starting earlier can

581
00:31:02,640 --> 00:31:07,440
S7: improve that household cash flow, reduce reliance on savings. And

582
00:31:07,440 --> 00:31:10,760
S7: if you coordinate that with your retirement savings, you may

583
00:31:10,760 --> 00:31:13,680
S7: not have to draw from your investments, you know, especially

584
00:31:13,680 --> 00:31:17,040
S7: during a market downturn. So I think absolutely, there are

585
00:31:17,080 --> 00:31:19,640
S7: reasons where taking it early does make sense.

586
00:31:20,680 --> 00:31:24,410
S6: This is great content, Sandra. First time caller from Tampa, Florida.

587
00:31:24,410 --> 00:31:26,290
S6: What's your question for Rob West?

588
00:31:27,490 --> 00:31:31,090
S13: Good morning. Hi, Rob. Um, my question is I'm with

589
00:31:31,090 --> 00:31:32,969
S13: the school board. I've been with the school board for

590
00:31:32,970 --> 00:31:38,810
S13: 24 years, and I own a small, um, mobile home park.

591
00:31:39,410 --> 00:31:45,970
S13: I have no dependents, so my my, uh, I pay taxes.

592
00:31:46,010 --> 00:31:47,850
S13: A lot of taxes at the end of the year.

593
00:31:48,170 --> 00:31:51,010
S13: So I'm kind of ready to retire, but I'm undecided

594
00:31:51,010 --> 00:31:53,930
S13: if I should go ahead and retire and get the

595
00:31:54,490 --> 00:31:58,850
S13: Social Security. Okay. But at the same time, I still

596
00:31:58,890 --> 00:32:01,570
S13: don't qualify for the health insurance.

597
00:32:02,570 --> 00:32:05,130
S7: Okay. Yeah. And what did you say your age was?

598
00:32:07,010 --> 00:32:09,690
S13: I'm 64. I'll be 65 in October.

599
00:32:10,290 --> 00:32:10,850
S1: Okay.

600
00:32:10,890 --> 00:32:15,610
S7: Got it. Yeah. So in your situation here, um, you know,

601
00:32:15,650 --> 00:32:18,890
S7: you need to understand your timing options. So your full

602
00:32:18,890 --> 00:32:22,930
S7: retirement age is probably 67. So if you take it

603
00:32:22,930 --> 00:32:28,450
S7: at 64, you'd have a benefit roughly 20% lower than

604
00:32:28,450 --> 00:32:32,090
S7: if you take it at 67. So again, the longer

605
00:32:32,090 --> 00:32:34,970
S7: you wait, the higher that monthly check for life. So

606
00:32:34,970 --> 00:32:38,410
S7: you've got two potential income streams here. A school board

607
00:32:38,410 --> 00:32:41,650
S7: pension I'm assuming depending on your state system and then

608
00:32:41,650 --> 00:32:44,410
S7: the mobile home park income. So if the mobile home

609
00:32:44,410 --> 00:32:49,010
S7: park generates reliable income, that gives you flexibility to delay

610
00:32:49,010 --> 00:32:52,530
S7: Social Security and allow that benefit to grow. That would

611
00:32:52,530 --> 00:32:55,050
S7: be great. Now, you mentioned paying a lot in taxes.

612
00:32:55,050 --> 00:32:57,170
S7: You've got to think about that as well. If you

613
00:32:57,170 --> 00:33:01,410
S7: retire before taking Social Security, there could be a lower

614
00:33:01,570 --> 00:33:04,770
S7: income window where you may be able to take it

615
00:33:04,770 --> 00:33:09,170
S7: later at a higher benefit and manage your taxes more efficiently.

616
00:33:09,730 --> 00:33:11,690
S7: So I think at the end of the day, you

617
00:33:11,690 --> 00:33:14,490
S7: just need to figure out what is that retirement budget

618
00:33:14,490 --> 00:33:17,130
S7: going to look like and can I solve for it

619
00:33:17,130 --> 00:33:20,620
S7: with the state pension and the mobile home park income?

620
00:33:20,620 --> 00:33:23,700
S7: If so, let's delay. If not, then Social Security could

621
00:33:23,700 --> 00:33:24,660
S7: be your option there.

622
00:33:24,700 --> 00:33:27,660
S6: Yeah. Wonderful boy. I'm blown away here. The amount of

623
00:33:27,660 --> 00:33:30,700
S6: links that went out to connect with Rob West and

624
00:33:30,740 --> 00:33:34,420
S6: great tools there. Uh, you want to check this out?

625
00:33:34,460 --> 00:33:41,140
S6: Just text the word money to (800) 555-7898. Unbelievable amount of

626
00:33:41,140 --> 00:33:43,580
S6: links going out here, Rob. People really want to be

627
00:33:43,580 --> 00:33:47,820
S6: good stewards. As you were saying, text money to 800

628
00:33:48,140 --> 00:33:54,180
S6: 555 7898. Anonymous in Birmingham, Alabama. What's your question for

629
00:33:54,180 --> 00:33:54,940
S6: Rob West?

630
00:33:56,460 --> 00:33:59,300
S14: Uh, good morning. Uh, long time listener. I've got about

631
00:33:59,300 --> 00:34:03,580
S14: a million for my wife and I in retirement assets,

632
00:34:03,580 --> 00:34:07,580
S14: about another 400 in cash. And she wants to convert

633
00:34:07,580 --> 00:34:10,700
S14: everything to a Roth IRA now. So that's going to

634
00:34:10,700 --> 00:34:13,660
S14: be the long term best thing to do. And my

635
00:34:13,660 --> 00:34:14,860
S14: question is, what do you think?

636
00:34:15,420 --> 00:34:18,589
S7: Yeah. Uh, so this is a great question. Are you

637
00:34:18,630 --> 00:34:20,830
S7: guys still working at all?

638
00:34:22,310 --> 00:34:23,030
S14: I am.

639
00:34:23,630 --> 00:34:24,110
S1: Okay.

640
00:34:24,150 --> 00:34:27,910
S7: Yeah. So I mean, the reason people convert to Roth

641
00:34:27,910 --> 00:34:31,149
S7: is they pay the taxes now, not later. And so

642
00:34:31,190 --> 00:34:34,310
S7: future growth becomes tax free. And they also the Roths

643
00:34:34,310 --> 00:34:37,110
S7: don't have required minimums. The key is does it make

644
00:34:37,110 --> 00:34:40,430
S7: more sense to pay the taxes now or later. And

645
00:34:40,469 --> 00:34:42,710
S7: you know, the reason you would do it is if

646
00:34:42,750 --> 00:34:45,950
S7: you think tax rates are going up down the road,

647
00:34:45,950 --> 00:34:49,350
S7: they certainly may. Or if you believe you'll be in

648
00:34:49,350 --> 00:34:53,550
S7: a higher bracket later. Um, the challenge is you're still working,

649
00:34:53,550 --> 00:34:56,230
S7: and so you're probably at the peak of your earning

650
00:34:56,230 --> 00:34:59,270
S7: potential right here, paying a good bit of taxes. So

651
00:34:59,270 --> 00:35:01,830
S7: a Roth conversion on top of that is just going

652
00:35:01,870 --> 00:35:07,030
S7: to push that portion up into even higher brackets. And so,

653
00:35:07,070 --> 00:35:10,230
S7: you know, I would I would certainly go slow there. Um,

654
00:35:10,270 --> 00:35:13,350
S7: you've got a window between the time you retire and

655
00:35:13,350 --> 00:35:17,390
S7: when you take Social Security where you could start maybe

656
00:35:17,430 --> 00:35:20,430
S7: over several years doing a portion of this as a

657
00:35:20,430 --> 00:35:22,549
S7: Roth conversion. Because the other thing you need to be

658
00:35:22,550 --> 00:35:26,149
S7: careful on is when you push up your income, a

659
00:35:26,150 --> 00:35:28,989
S7: larger percentage of your Social Security becomes taxable, and you

660
00:35:28,989 --> 00:35:31,710
S7: can have something called Irma, which is where you earn

661
00:35:31,710 --> 00:35:36,030
S7: more and you pay premiums or surcharges on your Medicare.

662
00:35:36,350 --> 00:35:39,310
S7: And so I think that sweet spot is a portion

663
00:35:39,310 --> 00:35:42,390
S7: of this going to Roth and doing it between the

664
00:35:42,390 --> 00:35:45,270
S7: time you retire when your income drops and prior to

665
00:35:45,310 --> 00:35:48,910
S7: taking Social Security. But I would be careful there and

666
00:35:48,910 --> 00:35:50,830
S7: not do large amounts all at once.

667
00:35:51,110 --> 00:35:54,870
S6: Okay. Rob West is our guest right now. I had

668
00:35:54,870 --> 00:35:57,990
S6: a bunch of questions, and most of them were covered

669
00:35:57,989 --> 00:36:01,710
S6: up by a mountain of money links, and that's a

670
00:36:01,710 --> 00:36:07,669
S6: great problem. So text the word money to (800) 555-7898. This

671
00:36:07,670 --> 00:36:12,030
S6: is a resource that you will be so grateful to have.

672
00:36:12,070 --> 00:36:16,560
S6: I mean, all your questions answered right here. Text money

673
00:36:16,560 --> 00:36:20,719
S6: to 800 555 7898. I dug through the pile and

674
00:36:20,719 --> 00:36:23,760
S6: found this one. What are your thoughts on purchasing gold, Rob?

675
00:36:23,760 --> 00:36:26,400
S6: Is it worth it for the long term financial growth?

676
00:36:27,239 --> 00:36:30,919
S7: Yeah, I like gold. I mean, from my perspective and

677
00:36:30,920 --> 00:36:33,600
S7: what we've seen lately with this dramatic run up than

678
00:36:33,600 --> 00:36:36,799
S7: we had a pullback, I think just underscores this idea

679
00:36:36,800 --> 00:36:39,399
S7: is we don't want to overweight there. You know when

680
00:36:39,400 --> 00:36:42,759
S7: we have geopolitical uncertainty and we certainly have that you

681
00:36:42,760 --> 00:36:45,360
S7: know when we have a D a dollar that's declining

682
00:36:45,360 --> 00:36:50,440
S7: in value. When we have a loose monetary policy gold

683
00:36:50,480 --> 00:36:53,160
S7: becomes in vogue. And it has been you see a

684
00:36:53,200 --> 00:36:55,759
S7: lot of ads on them, but people tend to kind

685
00:36:55,760 --> 00:36:58,560
S7: of rush into this area and overweight. I think you've

686
00:36:58,560 --> 00:37:01,680
S7: got to be careful there. It doesn't produce an income

687
00:37:01,880 --> 00:37:04,600
S7: and it historically has not done as well over the

688
00:37:04,600 --> 00:37:08,720
S7: long haul. As a properly diversified stock and bond portfolio.

689
00:37:08,760 --> 00:37:11,480
S7: There's been really long periods of time where gold was

690
00:37:11,480 --> 00:37:14,400
S7: flat to down. And so when you just look at

691
00:37:14,440 --> 00:37:18,040
S7: that long term perspective, it doesn't do as well. So

692
00:37:18,040 --> 00:37:19,480
S7: what do I do with that? Well I would do

693
00:37:19,520 --> 00:37:23,000
S7: no more than 10%. I would do that. First five

694
00:37:23,040 --> 00:37:25,640
S7: is what I'll call your forever allocation. You buy it.

695
00:37:25,640 --> 00:37:28,799
S7: You take physical possession, you keep it, you pass it down.

696
00:37:28,800 --> 00:37:31,000
S7: You don't ever sell it. If you want to go

697
00:37:31,000 --> 00:37:32,839
S7: from five up to ten. And I wouldn't do more

698
00:37:32,840 --> 00:37:35,960
S7: than that. Consider using one of the gold exchange traded

699
00:37:35,960 --> 00:37:38,879
S7: funds where you actually don't have to take possession, but

700
00:37:38,880 --> 00:37:42,120
S7: you still get the overall rise in the metal as

701
00:37:42,120 --> 00:37:43,839
S7: a part of your investment returns.

702
00:37:43,880 --> 00:37:49,000
S6: How how concerned are you with regard to the security

703
00:37:49,000 --> 00:37:51,759
S6: of monies? We've had a few questions come in like this.

704
00:37:51,760 --> 00:37:56,880
S6: And I think sometimes there's a alarmism out there. We

705
00:37:56,880 --> 00:38:00,120
S6: know about FDIC, but what are what are how secure

706
00:38:00,120 --> 00:38:02,360
S6: are monies in all these investments.

707
00:38:03,600 --> 00:38:06,080
S7: Uh, yeah. I mean, so, you know, if we're talking

708
00:38:06,080 --> 00:38:09,520
S7: about market risk, there is no security. I mean, it

709
00:38:09,560 --> 00:38:13,490
S7: rises and falls based on the merits of the underlying investment.

710
00:38:13,489 --> 00:38:16,650
S7: So in the case of stocks, you're a small percentage

711
00:38:16,650 --> 00:38:20,410
S7: owner of a real company with sales and earnings. And

712
00:38:20,410 --> 00:38:22,609
S7: so it ultimately is about that. If we're talking about

713
00:38:22,610 --> 00:38:26,170
S7: the banking system, you know, FDIC has the backing of

714
00:38:26,170 --> 00:38:28,489
S7: the full faith and credit of the United States government.

715
00:38:28,530 --> 00:38:31,969
S7: And do we have our challenges economically? Sure. But we're

716
00:38:31,969 --> 00:38:34,850
S7: still the biggest economy in the world, and there's really

717
00:38:34,850 --> 00:38:37,490
S7: no one in the rear view mirror, especially in terms

718
00:38:37,489 --> 00:38:41,090
S7: of being able to replace the US dollar as the

719
00:38:41,090 --> 00:38:45,170
S7: the world's kind of de facto reserve currency. So I

720
00:38:45,210 --> 00:38:47,969
S7: would just say, you know, when we're we're looking at

721
00:38:47,969 --> 00:38:51,330
S7: the US versus everybody else, we're still in a really

722
00:38:51,370 --> 00:38:55,009
S7: strong position. Uh, but we have our challenges, namely our

723
00:38:55,010 --> 00:38:58,969
S7: growing national debt and, and our demographics, which, you know,

724
00:38:59,010 --> 00:39:01,210
S7: we just have having less and less babies. And that's

725
00:39:01,250 --> 00:39:02,730
S7: a that's a challenge long term.

726
00:39:02,770 --> 00:39:05,290
S6: It is. And China's live in that world right now

727
00:39:05,290 --> 00:39:09,290
S6: and it's hurting them. Uh, Tricia, first time caller Evanston, Illinois.

728
00:39:09,290 --> 00:39:10,890
S6: What's your question for Rob West?

729
00:39:11,890 --> 00:39:12,690
S8: Um, yeah.

730
00:39:12,690 --> 00:39:15,210
S15: So, um, I took out a pair of buffalo for

731
00:39:15,210 --> 00:39:18,969
S15: my son as he was matriculating through college, and then

732
00:39:19,010 --> 00:39:26,370
S15: he qualified for 100% total disability where his loans were forgiven.

733
00:39:26,570 --> 00:39:30,210
S15: So with that parent plus loan also fall under that

734
00:39:30,210 --> 00:39:33,450
S15: category since I took off the loan to help pay

735
00:39:33,450 --> 00:39:35,170
S15: for his college education.

736
00:39:35,890 --> 00:39:36,290
S3: Mhm.

737
00:39:36,370 --> 00:39:39,410
S7: Yes. Uh good question. So tell me about that. So

738
00:39:39,410 --> 00:39:41,850
S7: you said his were completely discharged.

739
00:39:42,770 --> 00:39:44,290
S15: Correct. Correct.

740
00:39:44,330 --> 00:39:48,609
S7: Okay. Yeah. Uh it can apply. So it, uh, so

741
00:39:48,650 --> 00:39:54,250
S7: if your son is, is considered, uh, permanently disabled and

742
00:39:54,250 --> 00:39:57,049
S7: he qualified for that, what the TPD what they call

743
00:39:57,050 --> 00:40:00,529
S7: the total and permanent disability discharge. Uh, you know, the

744
00:40:00,530 --> 00:40:05,370
S7: parent plus loans are legally your responsibility, so it doesn't

745
00:40:05,370 --> 00:40:10,169
S7: automatically discharge the parent plus loan. However, um, you know,

746
00:40:10,300 --> 00:40:13,779
S7: if someone else is, you know, involved here, it could.

747
00:40:13,820 --> 00:40:16,380
S7: But if it's if it's just your son, it doesn't

748
00:40:16,380 --> 00:40:19,859
S7: automatically come over to your loan because ultimately those are

749
00:40:19,860 --> 00:40:22,740
S7: your responsibilities. So his would go away. The parent plus

750
00:40:22,739 --> 00:40:24,620
S7: loans would not in most cases.

751
00:40:24,860 --> 00:40:27,340
S6: Is it would it be wise to appeal to your

752
00:40:27,739 --> 00:40:30,780
S6: the parent plus provider just to see Rob.

753
00:40:31,100 --> 00:40:35,180
S7: Totally. Yeah. So call the loan servicer and confirm whether

754
00:40:35,460 --> 00:40:41,340
S7: this particular loan qualifies for any special discharge or hardship options. Um,

755
00:40:41,420 --> 00:40:45,300
S7: but but just by virtue of the fact that his was, uh,

756
00:40:45,700 --> 00:40:49,540
S7: eliminated due to his disability would not carry over automatically

757
00:40:49,540 --> 00:40:50,540
S7: to the parent. Plus.

758
00:40:51,060 --> 00:40:53,980
S6: Taking your questions for Rob West, a dear friend of

759
00:40:53,980 --> 00:40:56,580
S6: ours here, and, uh, hanging on for a few more

760
00:40:56,580 --> 00:41:03,660
S6: minutes here, 855 five 7898 800 555 7898. And I'm

761
00:41:03,660 --> 00:41:05,660
S6: going to say it again and get some questions buried.

762
00:41:05,660 --> 00:41:08,700
S6: But I got to do it. This is one of the.

763
00:41:11,260 --> 00:41:15,180
S6: One of the greatest sites you will use as a

764
00:41:15,180 --> 00:41:18,340
S6: follower of Jesus. No joking. Because when it comes to

765
00:41:18,380 --> 00:41:24,020
S6: money for which Jesus spoke of it repeatedly, in fact,

766
00:41:24,020 --> 00:41:27,700
S6: the majority of his parables deal with money over any

767
00:41:27,700 --> 00:41:34,620
S6: other topic. So text the word money to 800 555, 7898.

768
00:41:34,620 --> 00:41:41,340
S6: Get this link and use it. 800 555 7898 uh,

769
00:41:41,620 --> 00:41:44,339
S6: let's go back to the phone lines here. James in

770
00:41:44,340 --> 00:41:46,780
S6: Plant City, Florida. What's your question for Rob West?

771
00:41:48,020 --> 00:41:51,020
S16: Yes, sir. Um, so, you know, I was an addict

772
00:41:51,020 --> 00:41:52,980
S16: for 30 years, and I finally gave my heart to

773
00:41:53,020 --> 00:41:55,140
S16: the Lord and, you know, got got right. And I'm.

774
00:41:55,140 --> 00:41:56,900
S3: Sober. Um, yeah.

775
00:41:57,219 --> 00:42:00,259
S16: Well, you know, after 30 years, you know, not a

776
00:42:00,260 --> 00:42:02,820
S16: lot of work history and stuff. You know, I'm married now.

777
00:42:02,860 --> 00:42:05,140
S16: I'm trying to purchase a home as a first time buyer.

778
00:42:05,660 --> 00:42:09,390
S16: What are my future Retirement. Is there anything that you

779
00:42:09,430 --> 00:42:11,790
S16: know that I can start? Because it's like I've started

780
00:42:11,790 --> 00:42:13,830
S16: life at the age of 48. You know what I mean?

781
00:42:14,190 --> 00:42:14,910
S16: Yes and.

782
00:42:14,950 --> 00:42:15,310
S1: Yes.

783
00:42:15,430 --> 00:42:17,589
S16: You know, retirement, the things I can, steps I can

784
00:42:17,590 --> 00:42:20,910
S16: take to ensure that I do when I do retire

785
00:42:20,950 --> 00:42:23,270
S16: or something, you know, that I have that I can

786
00:42:23,270 --> 00:42:24,989
S16: survive out there. You know what I mean? For me

787
00:42:24,989 --> 00:42:25,950
S16: and my wife and.

788
00:42:26,550 --> 00:42:28,790
S6: Love your heart, Mac. And let me just say a

789
00:42:28,790 --> 00:42:31,390
S6: couple of things here. Number one, praise God you're in

790
00:42:31,390 --> 00:42:34,910
S6: the hands of God. He knows you. You know him. Secondly,

791
00:42:34,910 --> 00:42:37,390
S6: we can't ignore the fact that if we look at

792
00:42:37,390 --> 00:42:39,790
S6: the birds of the air and God cares for them,

793
00:42:40,070 --> 00:42:42,390
S6: that's not cheap, counsel, is it, Rob?

794
00:42:43,350 --> 00:42:46,630
S7: No, that is the reality that not only does God

795
00:42:46,670 --> 00:42:49,830
S7: own it all, but he is your provider. God is

796
00:42:49,830 --> 00:42:53,190
S7: the source of all that we have, not only the

797
00:42:53,190 --> 00:42:57,750
S7: the resources we have, but he is our provision literally.

798
00:42:57,750 --> 00:43:00,630
S7: And I couldn't agree more. Karl. Praise the Lord for

799
00:43:00,950 --> 00:43:04,670
S7: the fact that he has rescued, just like each of us. Uh,

800
00:43:04,670 --> 00:43:08,310
S7: out of that, uh, putting you in a new position

801
00:43:08,310 --> 00:43:11,790
S7: and standing before God, uh, through your trust in Jesus.

802
00:43:11,830 --> 00:43:13,989
S7: You know, what I would say is, uh, this is

803
00:43:13,989 --> 00:43:17,350
S7: an incredible accomplishment. I understand you wish you could have

804
00:43:17,350 --> 00:43:19,670
S7: done things differently in the past, but the question is,

805
00:43:19,670 --> 00:43:22,509
S7: what is the next faithful step moving forward? So let's

806
00:43:22,510 --> 00:43:25,870
S7: start with stability. We've got to create a simple monthly budget.

807
00:43:25,870 --> 00:43:29,990
S7: We've got to build an emergency fund. Even starting with $1,000.

808
00:43:30,030 --> 00:43:33,110
S7: Goal is great. Ultimately trying to get to three months expenses,

809
00:43:33,230 --> 00:43:37,029
S7: avoid new debt. Understand your social security outlook. So you

810
00:43:37,030 --> 00:43:40,390
S7: need 40 credits, ten years of work to qualify, and

811
00:43:40,390 --> 00:43:44,150
S7: every year you can have qualifying benefits up to 35.

812
00:43:44,190 --> 00:43:47,759
S7: That's going to help you start saving something. Even 50

813
00:43:47,760 --> 00:43:50,989
S7: or $100 a month is great. Take your time in

814
00:43:50,989 --> 00:43:54,109
S7: buying a house you know. Don't rush into that and

815
00:43:54,110 --> 00:43:57,109
S7: buy a house prematurely when you're not ready, where you

816
00:43:57,110 --> 00:44:01,150
S7: can go in with a 20% down payment. Renting is okay. We.

817
00:44:01,230 --> 00:44:03,350
S7: Last thing I'd want is for you to get overextended

818
00:44:03,350 --> 00:44:06,640
S7: because you buy too soon. And then I would say

819
00:44:06,640 --> 00:44:09,280
S7: build a support system. You know, we'd be happy to help.

820
00:44:09,280 --> 00:44:11,240
S7: I'd be happy to connect you with one of our

821
00:44:11,239 --> 00:44:15,360
S7: certified Christian financial counselors, uh, to walk alongside you to

822
00:44:15,400 --> 00:44:18,200
S7: answer your questions. Pray with you, get that budget set up.

823
00:44:18,200 --> 00:44:20,600
S7: We'll pay for it. Uh, there won't be any cost

824
00:44:20,640 --> 00:44:22,839
S7: to you. If you're interested in that, just have the

825
00:44:22,840 --> 00:44:25,080
S7: team get you connected with us, and we'd be happy

826
00:44:25,080 --> 00:44:25,839
S7: to provide that.

827
00:44:25,880 --> 00:44:26,120
S3: Yeah.

828
00:44:26,120 --> 00:44:29,200
S6: It's beautiful. Rob. Okay, uh, we're going to take more

829
00:44:29,200 --> 00:44:31,960
S6: questions for Rob West, but I'm going to banner ad

830
00:44:31,960 --> 00:44:36,000
S6: this again because it is catching fire. If you text

831
00:44:36,040 --> 00:44:41,480
S6: the word money to 805 five, five, 78, 98, you're

832
00:44:41,480 --> 00:44:45,440
S6: going to get linked up with Faith fi. And this

833
00:44:45,440 --> 00:44:49,920
S6: is a robust site. It's beautiful. It is clearly laid out.

834
00:44:50,360 --> 00:44:54,080
S6: You get to ask and gain insights and biblical guidance

835
00:44:54,080 --> 00:44:58,400
S6: on stewardship. You get to track income spending and giving.

836
00:44:58,880 --> 00:45:02,359
S6: And there's planning and giving with confidence for the future.

837
00:45:02,680 --> 00:45:06,400
S6: Every topic you can imagine covered here. Text money to

838
00:45:06,440 --> 00:45:11,760
S6: 800 555 7898. More questions for Rob West. Straight ahead.

839
00:45:12,960 --> 00:45:16,160
S1: Get in the know with life's biggest questions. It's Ask

840
00:45:16,200 --> 00:45:18,320
S1: the Experts week with Carl and crew.

841
00:45:19,000 --> 00:45:21,080
S6: Boy, we're getting crushed here. Okay, I'm going to get

842
00:45:21,080 --> 00:45:23,040
S6: in as many as we can here in the next

843
00:45:23,040 --> 00:45:25,560
S6: couple of minutes. Mac and Florida. What's your question for

844
00:45:25,560 --> 00:45:26,360
S6: Rob West?

845
00:45:27,400 --> 00:45:32,760
S17: Uh, I'm on a disability budget. Um, 58 years old.

846
00:45:33,440 --> 00:45:38,799
S17: I haven't been financially literate. No one ever taught me

847
00:45:38,800 --> 00:45:42,520
S17: any of that. So while waiting to get approved for disability,

848
00:45:42,520 --> 00:45:47,160
S17: I relied on loans and, you know, cash, app loans,

849
00:45:47,160 --> 00:45:50,120
S17: those kind of things. So I'm stuck in this vicious cycle.

850
00:45:50,320 --> 00:45:53,200
S17: Every month my budget is maxed out and I can't

851
00:45:53,200 --> 00:45:55,120
S17: get out of debt. What would you suggest?

852
00:45:55,600 --> 00:45:56,480
S6: Thank you. Mac.

853
00:45:57,080 --> 00:46:00,400
S7: Absolutely. Uh, so glad you called. And I'd love to

854
00:46:00,400 --> 00:46:02,759
S7: do the same thing I did for the previous caller.

855
00:46:02,850 --> 00:46:05,810
S7: I would be delighted to connect you once we're done

856
00:46:05,850 --> 00:46:08,370
S7: here today with one of our certified Christian financial counselors.

857
00:46:08,370 --> 00:46:11,089
S7: These are men and women who are trained, uh, who

858
00:46:11,090 --> 00:46:14,450
S7: love Jesus, who are stewardship counselors to come alongside you,

859
00:46:14,489 --> 00:46:17,370
S7: help you put a budget together, answer your questions, help

860
00:46:17,370 --> 00:46:20,290
S7: you make a debt repayment plan, and it won't cost

861
00:46:20,330 --> 00:46:22,050
S7: you one penny. We'll cover.

862
00:46:22,050 --> 00:46:22,290
S3: That.

863
00:46:22,810 --> 00:46:24,930
S7: Yeah. So just let the team know, you know, here's

864
00:46:24,930 --> 00:46:28,690
S7: the key. Start with the simple monthly picture, uh, which

865
00:46:28,690 --> 00:46:32,210
S7: is just what is my monthly income? The disability, social security,

866
00:46:32,250 --> 00:46:36,489
S7: whatever you have coming in, start with the essential expenses.

867
00:46:36,489 --> 00:46:37,890
S7: So we got to keep a roof over your head.

868
00:46:37,890 --> 00:46:39,370
S7: We got to keep food on the table. We got

869
00:46:39,370 --> 00:46:41,009
S7: to keep gas in the car to get to work.

870
00:46:41,010 --> 00:46:43,850
S7: If you're working. If not, uh, you know, that's not

871
00:46:43,850 --> 00:46:47,250
S7: as much of a priority. Utilities and medicine. I mean,

872
00:46:47,250 --> 00:46:49,649
S7: we got to start with the basics, and then we've

873
00:46:49,650 --> 00:46:52,969
S7: got to make that balance and cover the minimum debt payments.

874
00:46:52,969 --> 00:46:55,930
S7: So a very simple written budget. You'll work on that

875
00:46:55,930 --> 00:47:00,170
S7: with the counselor. Then we we prioritize beyond that talking

876
00:47:00,170 --> 00:47:02,850
S7: with the lenders. So since these loans were taken out

877
00:47:02,890 --> 00:47:05,730
S7: during a difficult time, explain the situation. Let's see if

878
00:47:05,730 --> 00:47:07,410
S7: we can get you in a hardship program. Let's see

879
00:47:07,410 --> 00:47:11,170
S7: if we can get payments lowered. Temporary payment reductions. Let's

880
00:47:11,170 --> 00:47:14,450
S7: look for non-profit help. Uh, you know, maybe your church

881
00:47:14,610 --> 00:47:18,130
S7: has some assistance. Um, maybe there's somebody listening today that

882
00:47:18,130 --> 00:47:19,810
S7: would want to reach out to us at Faith fi

883
00:47:19,850 --> 00:47:23,410
S7: to help this brother. Um, but look for assistance programs.

884
00:47:23,410 --> 00:47:28,049
S7: There's local assistance programs for utility assistance, property tax relief,

885
00:47:28,210 --> 00:47:33,009
S7: prescription assistance. We need to explore every possible option to

886
00:47:33,050 --> 00:47:36,049
S7: get you back onto a solid financial footing. God is

887
00:47:36,050 --> 00:47:39,410
S7: your provider. He can be trusted. He'll journey with you.

888
00:47:39,410 --> 00:47:40,410
S7: And we're going to help.

889
00:47:40,450 --> 00:47:42,810
S6: And thank you, Rob, from the bottom of our heart.

890
00:47:42,810 --> 00:47:44,689
S6: Thank you. Mac, you stay on the horn. We're going

891
00:47:44,730 --> 00:47:47,210
S6: to get you hooked up. Just having someone to sit

892
00:47:47,210 --> 00:47:49,730
S6: down and talk with, who knows what they're doing is

893
00:47:49,730 --> 00:47:52,930
S6: just cool. Mac, I love your heart, man. Um, really

894
00:47:52,930 --> 00:47:54,730
S6: quickly here. We're not going to be able to get

895
00:47:54,730 --> 00:47:57,730
S6: to any more questions. And this is what I feel

896
00:47:57,730 --> 00:48:02,220
S6: prompted with your website banner at it. What's there? Because

897
00:48:02,219 --> 00:48:04,820
S6: I want to get people there right now. Text money

898
00:48:04,820 --> 00:48:11,460
S6: to 800 555 7898. One word. Money to 800 555 7898.

899
00:48:11,500 --> 00:48:12,340
S6: What's there? Rob?

900
00:48:12,780 --> 00:48:15,700
S7: Yeah. Lots of great content. And it's not, you know,

901
00:48:15,739 --> 00:48:19,620
S7: the the seven steps to financial success. It is. How

902
00:48:19,620 --> 00:48:24,140
S7: does our faith, uh, inform our role as stewards in

903
00:48:24,140 --> 00:48:27,060
S7: managing God's money. And so you will find helpful articles

904
00:48:27,060 --> 00:48:29,580
S7: there that will take you on a journey to both

905
00:48:29,580 --> 00:48:33,020
S7: explore God's Word and get practical financial advice. The Faith

906
00:48:33,020 --> 00:48:34,580
S7: V app, which you can click on at the top

907
00:48:34,580 --> 00:48:37,020
S7: of the page, is the way that you can actually

908
00:48:37,020 --> 00:48:41,060
S7: manage your spending day to day and build ribbits rhythms

909
00:48:41,060 --> 00:48:44,900
S7: and habits that integrate your faith into that. You can also,

910
00:48:44,900 --> 00:48:47,140
S7: if you're in a situation where you need an advisor

911
00:48:47,140 --> 00:48:50,140
S7: and you want one who understands God's Word and can

912
00:48:50,140 --> 00:48:53,180
S7: bring that to bear in their professional financial advice, you

913
00:48:53,180 --> 00:48:56,180
S7: can find a certified Kingdom advisor while you're there. So really,

914
00:48:56,180 --> 00:48:59,620
S7: it can cover the gamut in terms of giving you

915
00:48:59,620 --> 00:49:02,100
S7: practical advice informed by God's Word.

916
00:49:02,660 --> 00:49:05,220
S6: I want to do it with you here, Rob. Why share?

917
00:49:05,260 --> 00:49:09,500
S6: Next week, uh, our participation rate is six, seven, 8%. Why?

918
00:49:09,500 --> 00:49:11,460
S6: Why do we want to see that? So increase? Give

919
00:49:11,460 --> 00:49:13,020
S6: us your best 20s on that.

920
00:49:13,060 --> 00:49:15,940
S7: You know, if giving Carl is just another obligation, it

921
00:49:15,940 --> 00:49:20,140
S7: will always feel heavy. Uh, but the reality is that

922
00:49:20,140 --> 00:49:24,060
S7: scripture starts generosity somewhere far deeper than our budgets. It's

923
00:49:24,060 --> 00:49:26,859
S7: with our identity. Ephesians two. By grace you have been

924
00:49:26,860 --> 00:49:30,420
S7: saved through faith. Faith. It is the gift of God.

925
00:49:30,820 --> 00:49:32,739
S7: And so we need to remember that we are the

926
00:49:32,739 --> 00:49:36,300
S7: recipients of mercy and forgiveness and adoption and daily bread,

927
00:49:36,300 --> 00:49:40,100
S7: and a future with Christ that changes everything because grace

928
00:49:40,100 --> 00:49:43,220
S7: moves giving from pressure to privilege. So the opportunity next

929
00:49:43,219 --> 00:49:45,979
S7: week is to partner with us, to give as unto

930
00:49:46,020 --> 00:49:48,100
S7: the Lord, and take the gospel to the ends of

931
00:49:48,100 --> 00:49:50,339
S7: the earth, because the gospel changes everything.

932
00:49:50,900 --> 00:49:53,580
S6: Rob West, thank you for that appeal. I love you brother,

933
00:49:53,580 --> 00:49:56,580
S6: and this is great content. Key word money to 800

934
00:49:56,580 --> 00:49:58,940
S6: 555 7898.