1 00:00:08,720 --> 00:00:11,000 S1: What if the greatest shift you could make in your 2 00:00:11,000 --> 00:00:14,800 S1: financial life didn't start with budgeting, investing, or earning more, 3 00:00:14,960 --> 00:00:18,840 S1: but with surrender. Hi, I'm Rob West. We don't usually 4 00:00:18,840 --> 00:00:22,520 S1: think of surrender as a financial word, but Jesus does. 5 00:00:22,560 --> 00:00:25,680 S1: Today we're talking about the life changing truth that God 6 00:00:25,680 --> 00:00:29,680 S1: owns everything, and how that single conviction can transform the 7 00:00:29,680 --> 00:00:32,839 S1: way we live, give, and steward our resources. Then it's 8 00:00:32,880 --> 00:00:37,199 S1: on to your calls at 800 525 7000. This is 9 00:00:37,200 --> 00:00:41,720 S1: faith and finance. Live. Biblical wisdom for your financial decisions. 10 00:00:44,360 --> 00:00:47,720 S1: When we talk about money, we tend to ask familiar questions. 11 00:00:47,720 --> 00:00:50,080 S1: How much do I have? How much do I need? 12 00:00:50,120 --> 00:00:53,360 S1: Am I doing well? These are common questions, but they're 13 00:00:53,360 --> 00:00:57,120 S1: not the first questions Scripture asks. From the very beginning, 14 00:00:57,120 --> 00:01:01,870 S1: Scripture establishes God is the owner. Before humanity ever managed 15 00:01:01,870 --> 00:01:05,310 S1: a garden or named a creature, God formed, filled and 16 00:01:05,310 --> 00:01:10,030 S1: ruled creation. Psalm 24 one later declares it plainly the 17 00:01:10,069 --> 00:01:13,590 S1: earth is the Lord's and the fullness thereof. Simply put, 18 00:01:13,630 --> 00:01:16,990 S1: God is the owner and we are the stewards. For 19 00:01:16,990 --> 00:01:20,670 S1: many of us, that's a familiar idea. But familiarity doesn't 20 00:01:20,670 --> 00:01:24,470 S1: always mean surrender. We may believe God owns the universe, 21 00:01:24,470 --> 00:01:27,949 S1: but we instinctively act as if we built our lives 22 00:01:27,950 --> 00:01:31,029 S1: with our own hands. We say things like, I worked 23 00:01:31,030 --> 00:01:34,310 S1: for this or I earned this. But Scripture adds a 24 00:01:34,310 --> 00:01:37,509 S1: crucial line it is he who gives you the power 25 00:01:37,510 --> 00:01:42,350 S1: to get wealth. That's in Deuteronomy 818. Even our ability 26 00:01:42,350 --> 00:01:45,509 S1: to work is a gift from God. Jesus picks up 27 00:01:45,510 --> 00:01:48,790 S1: this idea in the parable of the talents in Matthew 25. 28 00:01:48,950 --> 00:01:53,830 S1: The master entrusts resources to three servants to invest courageously. 29 00:01:53,950 --> 00:01:56,670 S1: One buries what he's been given out of fear. When 30 00:01:56,670 --> 00:02:00,190 S1: the master returns, He doesn't praise the servants for increasing 31 00:02:00,190 --> 00:02:04,230 S1: his net worth. He praises their faithfulness. That's a key detail. 32 00:02:04,270 --> 00:02:08,150 S1: God doesn't measure stewardship the way the world measures results. 33 00:02:08,270 --> 00:02:12,430 S1: The world defines success by outcomes. God defines success by 34 00:02:12,470 --> 00:02:16,710 S1: trust and faithfulness. If God owns everything, then we are 35 00:02:16,710 --> 00:02:20,590 S1: not owners. We're managers. The Greek word scripture uses for 36 00:02:20,590 --> 00:02:26,190 S1: steward oikonomos means household manager. A steward manages resources they 37 00:02:26,190 --> 00:02:30,710 S1: didn't generate for purposes they didn't define under a master 38 00:02:30,710 --> 00:02:33,989 S1: they serve. That may sound restrictive at first, but in 39 00:02:33,990 --> 00:02:37,470 S1: reality it's freeing because if I'm not the owner, then 40 00:02:37,470 --> 00:02:41,350 S1: I'm not the ultimate provider and I'm not the ultimate protector. 41 00:02:41,510 --> 00:02:44,270 S1: Like Ron Blue always says, if God owns it all, 42 00:02:44,270 --> 00:02:49,669 S1: you can't lose anything. Ownership carries weight, stewardship carries trust. 43 00:02:49,830 --> 00:02:54,670 S1: And when we truly embrace stewardship, everyday choices become opportunities 44 00:02:54,669 --> 00:02:58,660 S1: for worship. Budgeting becomes an act of aligning our desires 45 00:02:58,660 --> 00:03:02,420 S1: with God's priorities. Giving becomes a reflection of the generosity 46 00:03:02,460 --> 00:03:07,900 S1: we've received. Planning becomes obedience instead of anxiety. Even investing 47 00:03:07,900 --> 00:03:11,260 S1: becomes a way of multiplying what belongs to the Lord, 48 00:03:11,260 --> 00:03:14,900 S1: not to secure independence from him. There's a famous line 49 00:03:14,900 --> 00:03:18,980 S1: from the Puritan preacher Thomas Watson what we keep, we 50 00:03:18,980 --> 00:03:22,260 S1: may lose. What we give to God is kept forever. 51 00:03:22,540 --> 00:03:26,780 S1: It's a reminder that ownership is temporary, but stewardship is eternal. 52 00:03:26,980 --> 00:03:29,859 S1: We brought nothing into the world, Paul says, and we 53 00:03:29,860 --> 00:03:33,179 S1: can take nothing out of it. That reality isn't meant 54 00:03:33,180 --> 00:03:36,660 S1: to discourage us. It's meant to liberate us. When we 55 00:03:36,660 --> 00:03:40,180 S1: stop clutching what we cannot keep, we're free to invest 56 00:03:40,180 --> 00:03:43,540 S1: in what we can never lose. Of course, this raises 57 00:03:43,540 --> 00:03:47,140 S1: the practical question If God owns everything, what does he 58 00:03:47,140 --> 00:03:50,940 S1: expect of us? Well, Jesus answers it simply. One who 59 00:03:50,940 --> 00:03:54,700 S1: is faithful in very little is also faithful in much 60 00:03:55,180 --> 00:03:59,260 S1: Faithfulness is not about size. It's about surrender. And surrender 61 00:03:59,260 --> 00:04:02,660 S1: always begins in the heart. When we embrace the conviction 62 00:04:02,660 --> 00:04:05,540 S1: that God owns it all, we gain two things the 63 00:04:05,540 --> 00:04:10,540 S1: world can't offer humility and hope. Humility because we stop 64 00:04:10,540 --> 00:04:14,660 S1: boasting in our own accomplishments. Hope because we realize we're 65 00:04:14,660 --> 00:04:18,940 S1: not carrying the burden alone. God equips, God guides, and 66 00:04:18,940 --> 00:04:22,299 S1: God provides. So let me ask you, where is God 67 00:04:22,300 --> 00:04:25,980 S1: inviting you to shift from being an owner to a steward? 68 00:04:26,100 --> 00:04:29,419 S1: Is it in your giving, your planning? Is it your savings, 69 00:04:29,420 --> 00:04:32,820 S1: your lifestyle? Or maybe in the quiet belief that your 70 00:04:32,820 --> 00:04:36,300 S1: security depends more on markets than on the God who 71 00:04:36,300 --> 00:04:39,859 S1: owns the cattle on a thousand hills? Stewardship isn't about 72 00:04:39,860 --> 00:04:43,659 S1: God getting something from you. It's about God doing something 73 00:04:43,660 --> 00:04:46,580 S1: in you. It reorders the heart so that money serves 74 00:04:46,580 --> 00:04:50,060 S1: its proper place not as a master, but as a tool. 75 00:04:50,420 --> 00:04:53,570 S1: If this idea resonates with you, that God owns it all. 76 00:04:53,570 --> 00:04:56,530 S1: And stewardship begins with surrender. I'd love for you to 77 00:04:56,570 --> 00:04:59,890 S1: explore it further in my brand new devotional, Our Ultimate 78 00:04:59,930 --> 00:05:04,170 S1: Treasure A 21 Day Journey to Faithful Stewardship. It's available 79 00:05:04,170 --> 00:05:08,810 S1: now at Faith. Com. You can order a copy for 80 00:05:08,810 --> 00:05:11,570 S1: yourself or place a bulk order for your church or 81 00:05:11,570 --> 00:05:17,170 S1: small group. That's faith. Five comments. Alright, your calls are next. 82 00:05:17,210 --> 00:05:22,570 S1: The number 800 525 7000. This is Faith and finance live. 83 00:05:22,570 --> 00:05:23,529 S1: We'll be right back. 84 00:05:31,970 --> 00:05:35,050 S2: The opinions offered during this program represent the personal or 85 00:05:35,050 --> 00:05:39,450 S2: professional opinions of the participants, given for informational purposes only. 86 00:05:39,650 --> 00:05:43,050 S2: Any information provided is not intended to replace advice from 87 00:05:43,050 --> 00:05:47,489 S2: a financial, medical, legal, or other professional who understands your 88 00:05:47,490 --> 00:05:49,010 S2: specific situation. 89 00:05:56,050 --> 00:05:58,609 S1: Hey, thanks for joining us today on Faith and Finance Live. 90 00:05:58,610 --> 00:06:00,650 S1: I'm Rob West. Well, in just a moment we're going 91 00:06:00,690 --> 00:06:04,010 S1: to begin taking your calls and questions, which means now 92 00:06:04,010 --> 00:06:06,210 S1: is the time to call. Our team is standing by. 93 00:06:06,210 --> 00:06:09,450 S1: We'd love to have you bring your questions. We'll try 94 00:06:09,450 --> 00:06:13,930 S1: to provide some thoughtful, biblically aligned answers to help you 95 00:06:13,930 --> 00:06:17,169 S1: move forward in your financial life. That number to call 96 00:06:17,330 --> 00:06:25,210 S1: 800 525 7000 again, that's 800 525 7000. Our team 97 00:06:25,210 --> 00:06:27,250 S1: is ready for your questions today, and we will get 98 00:06:27,250 --> 00:06:30,730 S1: you on the air shortly. That is a promise. Uh, 99 00:06:30,730 --> 00:06:34,370 S1: in the news today, even as the US adds jobs 100 00:06:34,370 --> 00:06:39,970 S1: and overall unemployment dips to 4.3%. Opportunities for young workers 101 00:06:39,970 --> 00:06:46,210 S1: remain tight, with unemployment at 9.4% for ages 16 to 24. 102 00:06:46,529 --> 00:06:52,600 S1: Entry level hiring is slowing and employers project only a 1.6% 103 00:06:52,600 --> 00:06:56,839 S1: increase for the class of 2026. Some large companies are 104 00:06:56,839 --> 00:07:01,520 S1: cutting entry level roles, partly due to, yeah, you guessed it, A.I. 105 00:07:01,680 --> 00:07:07,279 S1: Artificial Intelligence, which poses greater risks to jobs in technology 106 00:07:07,279 --> 00:07:12,640 S1: and finance. While fields like nursing, manufacturing and construction remain 107 00:07:12,640 --> 00:07:16,880 S1: more stable, still, teens are optimistic. A January survey by 108 00:07:16,880 --> 00:07:21,800 S1: Junior Achievement of more than 1000 students ages 13 to 109 00:07:21,800 --> 00:07:26,440 S1: 17 found that 73% believe AI will have a positive 110 00:07:26,440 --> 00:07:30,560 S1: impact or no impact on their ability to secure a 111 00:07:30,560 --> 00:07:35,320 S1: good paying job. About 68% plan to attend college. Concerns 112 00:07:35,320 --> 00:07:39,600 S1: about AI and rising tuition costs are prompting more students 113 00:07:39,600 --> 00:07:44,880 S1: to pursue two year degrees and career focused credentials. I 114 00:07:44,880 --> 00:07:48,680 S1: will say, for believers in Christ, shifting job markets don't 115 00:07:48,680 --> 00:07:52,640 S1: need to fuel fear. Our ultimate security isn't found in 116 00:07:52,840 --> 00:07:57,360 S1: any industry or degree, but in God's faithful provision. So 117 00:07:57,400 --> 00:08:01,760 S1: as we pursue wisdom and diligence and preparation, we can 118 00:08:01,760 --> 00:08:05,400 S1: trust that the Lord directs our steps and uses our work, 119 00:08:05,400 --> 00:08:09,600 S1: whatever form it takes for his purpose and his glory. 120 00:08:09,600 --> 00:08:12,240 S1: And I hope that's a great reminder for you today. 121 00:08:12,560 --> 00:08:14,800 S1: All right, let's dive into your questions. Again, those lines 122 00:08:14,800 --> 00:08:16,760 S1: are open. Calls are coming in, but we've got room 123 00:08:16,760 --> 00:08:19,760 S1: for you in the moment. Uh, that number is 800 124 00:08:19,800 --> 00:08:24,840 S1: 525 7000. You can call right now. Uh, let's head to, uh, 125 00:08:24,840 --> 00:08:27,720 S1: Great Bend, Kansas. James. Go ahead. 126 00:08:28,680 --> 00:08:30,280 S3: Hey, Rob, thanks for taking my call. 127 00:08:30,440 --> 00:08:30,960 S1: Sure. 128 00:08:31,840 --> 00:08:34,800 S3: Um, so I'm 23 years old. My wife is a 129 00:08:34,800 --> 00:08:38,240 S3: little older than me, and I had a question about, um, 130 00:08:38,240 --> 00:08:44,000 S3: retirement investments. So my wife has two retirement opportunities and 131 00:08:44,000 --> 00:08:46,880 S3: investments that she's putting in. One is a state pension 132 00:08:46,950 --> 00:08:49,110 S3: through Kansas. And the other one is, I think it's 133 00:08:49,110 --> 00:08:52,110 S3: called a 301 B through her school because she works 134 00:08:52,110 --> 00:08:55,429 S3: at a college. Um, at my work, I don't have 135 00:08:55,550 --> 00:09:01,830 S3: any opportunity to contribute to any retirement plan. So I 136 00:09:01,830 --> 00:09:06,110 S3: was curious if it might be wise for me to, um, 137 00:09:06,550 --> 00:09:10,790 S3: ease off our school loans that we're paying off really aggressively. Um, 138 00:09:10,790 --> 00:09:13,670 S3: they're about a 4% interest rate to ease off those 139 00:09:13,710 --> 00:09:17,150 S3: a little bit and to start putting maybe some money aside, 140 00:09:17,190 --> 00:09:20,590 S3: maybe 2 or $300 for, like a Roth IRA for me. 141 00:09:21,110 --> 00:09:23,790 S1: Um, yeah, I like that a lot. I mean, I 142 00:09:23,790 --> 00:09:26,870 S1: think the key is, you know, your time is your 143 00:09:26,870 --> 00:09:31,670 S1: most effective tool to take advantage of compounding. Ideally, we 144 00:09:31,670 --> 00:09:36,470 S1: would get that into a tax deferred environment. So you're 145 00:09:36,470 --> 00:09:40,470 S1: going to max out any retirement accounts you have access to. 146 00:09:40,750 --> 00:09:43,910 S1: Uh so you know we start with the foundation. So 147 00:09:44,070 --> 00:09:46,470 S1: before making any investments, you want to make sure you 148 00:09:46,470 --> 00:09:49,990 S1: have your emergency fund, no high interest debt. And then 149 00:09:49,990 --> 00:09:53,670 S1: with regard to those retirement accounts, a 401 K is 150 00:09:53,670 --> 00:09:57,189 S1: going to give you a little bit more contribution ability. 151 00:09:57,429 --> 00:10:00,470 S1: But apart from that, a Roth IRA would be a 152 00:10:00,470 --> 00:10:04,550 S1: great option. And at your age again Ros are very 153 00:10:04,550 --> 00:10:08,230 S1: powerful because you're likely in a lower tax bracket and 154 00:10:08,230 --> 00:10:12,510 S1: that growth is tax free forever. Um, so I think 155 00:10:12,510 --> 00:10:15,630 S1: getting started there makes a lot of sense. Um, so 156 00:10:15,750 --> 00:10:18,350 S1: what exactly does she have access to currently? 157 00:10:19,429 --> 00:10:24,390 S3: Um, so right now she's paying, uh, some she's putting 158 00:10:24,390 --> 00:10:27,990 S3: some money aside. I'm not entirely sure how much. Um, 159 00:10:28,110 --> 00:10:31,150 S3: I know she's putting some money aside, uh, through a 160 00:10:31,150 --> 00:10:35,590 S3: program called capers here in Kansas. And she also has 161 00:10:35,630 --> 00:10:37,390 S3: another one through her college. I think it's called a 162 00:10:37,390 --> 00:10:39,790 S3: 301 B. I'm not entirely sure how much she has 163 00:10:40,230 --> 00:10:42,990 S3: in her capers. One, she's been paying that a little 164 00:10:43,030 --> 00:10:45,939 S3: bit more than than the other one because she just 165 00:10:45,940 --> 00:10:49,260 S3: started working at the college, so I'm guessing not a lot. 166 00:10:49,820 --> 00:10:53,860 S1: Okay. Yeah. So the capers in Kansas, that's the Kansas 167 00:10:53,860 --> 00:10:56,940 S1: Public Employees Retirement System. So that's going to be the 168 00:10:56,940 --> 00:11:00,660 S1: state pension plan for her. Um, and it's going to 169 00:11:00,660 --> 00:11:03,980 S1: be a defined benefit pension. It's based on her years 170 00:11:03,980 --> 00:11:07,620 S1: of service, her final average salary at the end of 171 00:11:07,620 --> 00:11:10,300 S1: her tenure there, and then a formula set by the state. 172 00:11:10,300 --> 00:11:13,179 S1: But the nice part about that is it's a guaranteed 173 00:11:13,420 --> 00:11:17,460 S1: income for life. And then she probably has a 403 B, 174 00:11:17,580 --> 00:11:23,180 S1: which is the, uh, nonprofit version of a 401 K. 175 00:11:23,620 --> 00:11:27,740 S1: So that would be funded by employee contributions. And then 176 00:11:27,740 --> 00:11:32,100 S1: sometimes with an employer match, although not always she would 177 00:11:32,100 --> 00:11:35,780 S1: control that. And so I think that pension is going 178 00:11:35,780 --> 00:11:40,300 S1: to provide stability. But the 403 B provides the flexibility. 179 00:11:40,700 --> 00:11:44,730 S1: So it's a bridge for early retirement. It can provide 180 00:11:44,730 --> 00:11:48,809 S1: some inflation protection because there's investments inside it. You could 181 00:11:48,809 --> 00:11:51,530 S1: use it for large expenses or roll it to an 182 00:11:51,530 --> 00:11:56,490 S1: IRA in retirement. But that that capers is going to 183 00:11:56,490 --> 00:12:00,290 S1: provide that consistent income base. So I think the key 184 00:12:00,330 --> 00:12:04,449 S1: would be how much can you all get going into that? Um, 185 00:12:04,770 --> 00:12:08,090 S1: and then second, uh, you know, alongside that, if you 186 00:12:08,090 --> 00:12:10,530 S1: have the ability to do more, I think that's where 187 00:12:10,850 --> 00:12:14,970 S1: having the four or, excuse me, the Roth IRA alongside 188 00:12:14,970 --> 00:12:19,450 S1: that 403 B and then the defined benefit pension would 189 00:12:19,450 --> 00:12:21,850 S1: make a lot of sense and really round out some 190 00:12:21,850 --> 00:12:24,930 S1: great options for you all to, to contribute to and 191 00:12:24,929 --> 00:12:26,010 S1: grow over time. 192 00:12:27,850 --> 00:12:32,530 S3: Okay, cool. Great. And so basically, like the more retirement 193 00:12:32,530 --> 00:12:36,770 S3: investments I can put money to without basically causing my 194 00:12:36,770 --> 00:12:39,250 S3: life to fall apart is a good idea. 195 00:12:39,730 --> 00:12:41,850 S1: Yeah. I mean, I wouldn't be that extreme about it. 196 00:12:41,850 --> 00:12:44,050 S1: And I know you're kind of talking tongue in cheek there, 197 00:12:44,050 --> 00:12:46,890 S1: but I will say, uh, yeah. And we need this 198 00:12:46,890 --> 00:12:48,610 S1: to be a part of a well thought out plan 199 00:12:48,610 --> 00:12:51,530 S1: as kind of a guideline, maybe think 10 to 15% 200 00:12:51,530 --> 00:12:54,330 S1: of your combined income. If you could work up to 201 00:12:54,370 --> 00:12:57,010 S1: that over time, that would be great. But remember, we've 202 00:12:57,010 --> 00:12:59,010 S1: got other things that come first. Let's make sure we're 203 00:12:59,050 --> 00:13:02,730 S1: giving proportionately. Make let's make sure we've got that emergency fund. 204 00:13:02,730 --> 00:13:05,450 S1: We don't have any high interest debt, but apart from 205 00:13:05,450 --> 00:13:08,450 S1: any other near-term goals that you might be saving for 206 00:13:08,490 --> 00:13:11,530 S1: a down payment on a house or, you know, being 207 00:13:11,530 --> 00:13:14,970 S1: able to fund your next car when your current one, 208 00:13:15,010 --> 00:13:17,090 S1: you know, wears out. We want to keep some of 209 00:13:17,090 --> 00:13:19,569 S1: those things in mind as well. But yes, whatever you 210 00:13:19,570 --> 00:13:22,610 S1: all can get going toward the long term that you 211 00:13:22,650 --> 00:13:24,770 S1: kind of keep your hands off and you just let 212 00:13:24,770 --> 00:13:28,730 S1: it grow incredibly powerful because you guys would have 40 213 00:13:28,770 --> 00:13:31,890 S1: plus years for that to grow and compound, you know, 214 00:13:31,929 --> 00:13:34,850 S1: which will probably put you in a position in your 215 00:13:34,850 --> 00:13:37,410 S1: 40s where you're saying, okay, we need to set our 216 00:13:37,410 --> 00:13:40,760 S1: financial finish line here, maybe even sooner than that, because 217 00:13:40,760 --> 00:13:43,760 S1: we might over accumulate and miss the opportunity to do 218 00:13:43,800 --> 00:13:46,960 S1: more giving today. So I'd probably just think through all 219 00:13:47,000 --> 00:13:50,360 S1: of those things, but keep that 10 to 15% guideline 220 00:13:50,360 --> 00:13:54,720 S1: in your mind as a goal for your retirement plan contributions, 221 00:13:54,720 --> 00:13:58,800 S1: whether it's the 43B or the Roth, alongside your other 222 00:13:58,920 --> 00:14:04,520 S1: short term savings goals, your consistent, uh, and proportional giving, 223 00:14:04,720 --> 00:14:08,000 S1: and then your ability to dump debt and and put 224 00:14:08,000 --> 00:14:10,720 S1: your emergency fund in place, put all that together and 225 00:14:10,720 --> 00:14:13,880 S1: that will kind of round out your financial foundation. Hey, 226 00:14:13,880 --> 00:14:15,840 S1: thanks for your call today. We appreciate you being on 227 00:14:15,840 --> 00:14:19,520 S1: the program. And in Ohio, Nancy and Maine coming your way. 228 00:14:19,520 --> 00:14:31,040 S1: Plus more questions after this break. Don't go anywhere. Thrilled 229 00:14:31,040 --> 00:14:33,320 S1: to have you with us today on Faith and Finance Live. 230 00:14:33,320 --> 00:14:36,400 S1: I'm Rob West. Lines are nearly full, so let's head 231 00:14:36,400 --> 00:14:39,600 S1: right back to the phones. We'll go out to Ohio. Annie. 232 00:14:39,640 --> 00:14:42,680 S1: Go ahead. Excuse me. Ann, I apologize. How can I help? 233 00:14:44,240 --> 00:14:47,520 S4: Uh, I have a question about student loans. My kids 234 00:14:47,520 --> 00:14:51,800 S4: have about $75,000 in student loans. I don't know if 235 00:14:51,800 --> 00:14:56,800 S4: they're private or federal, but they they already paid some 236 00:14:56,840 --> 00:14:59,520 S4: off using the snowball, but they just feel like this 237 00:14:59,520 --> 00:15:03,040 S4: biggest one they aren't making any progress on. Is there 238 00:15:03,400 --> 00:15:07,760 S4: an easier way to get lower interest or how how 239 00:15:07,760 --> 00:15:11,080 S4: can I best help them get these loans paid off? 240 00:15:11,840 --> 00:15:16,080 S1: Yeah, it's a great question. And unfortunately, um, you know, 241 00:15:16,120 --> 00:15:19,360 S1: there's not really a way to lower the interest rate 242 00:15:19,360 --> 00:15:22,480 S1: and keep them in the federal loan program if they are, 243 00:15:22,480 --> 00:15:25,800 S1: in fact, federal loans. And the reason you would want 244 00:15:25,800 --> 00:15:30,200 S1: to keep them as federal loans is it offers some features, 245 00:15:30,200 --> 00:15:34,840 S1: namely what are called income driven repayment plans. Now, they 246 00:15:34,840 --> 00:15:37,550 S1: wouldn't want to use these unless they had to. But 247 00:15:37,590 --> 00:15:42,150 S1: in the event they got into a difficult spot financially 248 00:15:42,430 --> 00:15:45,830 S1: that could allow them to reduce the monthly payments, not 249 00:15:45,830 --> 00:15:49,590 S1: the rate, but reduce the payments to free up cash. 250 00:15:50,030 --> 00:15:53,710 S1: And if they needed that, that option is available, but 251 00:15:53,710 --> 00:15:57,110 S1: only through the federal loan program. Um, if they do 252 00:15:57,110 --> 00:16:01,190 S1: what's called a federal consolidation, where it combines multiple loans 253 00:16:01,190 --> 00:16:05,110 S1: into one, that can create some simplicity, but it doesn't 254 00:16:05,110 --> 00:16:07,350 S1: affect the rate. The new rate in the in the 255 00:16:07,350 --> 00:16:10,830 S1: federal consolidation is just a weighted average. So it's going 256 00:16:10,830 --> 00:16:14,670 S1: to be the same as it was prior to the consolidation. Um, 257 00:16:14,670 --> 00:16:19,150 S1: there's also some forgiveness programs available in the in the 258 00:16:19,150 --> 00:16:23,310 S1: federal loan program that are not available on a private basis. Now, 259 00:16:24,030 --> 00:16:27,870 S1: if they were willing to give up the, uh, income 260 00:16:27,870 --> 00:16:32,270 S1: driven repayment options and refinance it with a private loan, 261 00:16:32,550 --> 00:16:35,590 S1: then they could shop it around and look to try to, 262 00:16:35,990 --> 00:16:40,030 S1: you know, reduce the rate, uh, by shopping multiple lenders. 263 00:16:40,030 --> 00:16:43,270 S1: But it's probably not likely that they're going to get 264 00:16:43,310 --> 00:16:45,750 S1: much of a reduction from what they already have through 265 00:16:45,750 --> 00:16:49,390 S1: the federal loan program. And again, you know, giving up 266 00:16:49,390 --> 00:16:52,910 S1: that income driven repayment option that they could need down 267 00:16:52,910 --> 00:16:56,510 S1: the road is probably not something I would recommend. So 268 00:16:56,710 --> 00:16:59,190 S1: what do you do with that? Well, I think the 269 00:16:59,190 --> 00:17:03,310 S1: key is just, you know, to throw every extra dollar 270 00:17:03,630 --> 00:17:07,830 S1: at the highest rate loan, uh, consider some side income, 271 00:17:07,869 --> 00:17:12,629 S1: temporarily use any kind of windfalls, be it tax refunds 272 00:17:12,630 --> 00:17:18,629 S1: or bonuses toward principal that equals a guaranteed return equivalent 273 00:17:18,630 --> 00:17:22,389 S1: to the interest rate. Because whatever you're paying off, you're 274 00:17:22,390 --> 00:17:26,550 S1: getting a guaranteed rate of return equal to what you're 275 00:17:26,550 --> 00:17:30,070 S1: no longer paying in interest. Uh, so unfortunately, there's not 276 00:17:30,070 --> 00:17:32,629 S1: any kind of quick fix there. But I think the 277 00:17:32,780 --> 00:17:35,419 S1: best option for them is just to keep their lifestyle 278 00:17:35,420 --> 00:17:39,460 S1: at a minimum and assuming they don't have higher interest 279 00:17:39,460 --> 00:17:43,500 S1: credit card debt, or if they don't have an emergency fund, 280 00:17:43,500 --> 00:17:46,940 S1: they need to prioritize those. But apart from that, just 281 00:17:46,940 --> 00:17:49,780 S1: really trying to focus on principal reduction is pretty much 282 00:17:49,780 --> 00:17:51,420 S1: the the best option here. 283 00:17:52,540 --> 00:17:55,780 S4: Okay. Thank you for your help. 284 00:17:55,980 --> 00:17:57,980 S1: All right. I appreciate your call today. I wish I 285 00:17:57,980 --> 00:18:01,979 S1: had something better for you, but call anytime. Uh. Let's see. 286 00:18:01,980 --> 00:18:03,860 S1: We'll head to Maine. Nancy. Go ahead. 287 00:18:05,900 --> 00:18:08,980 S5: Yes. Uh, I, I just like to ask your advice. 288 00:18:08,980 --> 00:18:13,380 S5: I am I am getting a small inheritance, and I'd 289 00:18:13,380 --> 00:18:16,380 S5: like to know where to best invest it, but I 290 00:18:16,380 --> 00:18:20,100 S5: also need some cash from it. Pretty soon to pay 291 00:18:20,100 --> 00:18:21,540 S5: for an eye operation. 292 00:18:22,020 --> 00:18:27,139 S1: Okay. Yeah. So I think the best option really is 293 00:18:27,140 --> 00:18:30,460 S1: to think about this in terms of buckets. So bucket 294 00:18:30,460 --> 00:18:34,140 S1: one would be your immediate needs. The amount you want 295 00:18:34,180 --> 00:18:38,580 S1: to take out right now for your medical needs that 296 00:18:38,580 --> 00:18:40,780 S1: you're going to want to stay in cash. If it's 297 00:18:40,780 --> 00:18:42,860 S1: going to be around for even a few months, you 298 00:18:42,859 --> 00:18:45,180 S1: could put it in a high yield savings account or 299 00:18:45,180 --> 00:18:48,540 S1: money market, but you certainly don't want to invest it 300 00:18:48,540 --> 00:18:51,540 S1: so that you just want to keep liquid. Bucket two 301 00:18:51,580 --> 00:18:54,980 S1: perhaps could be your long term investment. Everything you don't 302 00:18:54,980 --> 00:18:57,300 S1: need right now, I would make sure that you have 303 00:18:57,340 --> 00:19:00,340 S1: at least a five year time horizon on that. And 304 00:19:00,340 --> 00:19:04,180 S1: then in terms of putting that to work, um, you know, 305 00:19:04,220 --> 00:19:06,699 S1: you could open a brokerage account, which would be a 306 00:19:06,700 --> 00:19:10,820 S1: taxable account, and you could begin to invest that in 307 00:19:10,820 --> 00:19:15,300 S1: some low cost index funds or even an actively managed 308 00:19:15,300 --> 00:19:18,740 S1: index fund or mutual fund. If you didn't know which 309 00:19:18,740 --> 00:19:23,100 S1: ones to use, you could either get some kind of 310 00:19:23,140 --> 00:19:25,660 S1: do it yourself assistance, which I'd be happy to give 311 00:19:25,660 --> 00:19:29,260 S1: you some recommendations on. Or you could hire an advisor. 312 00:19:29,460 --> 00:19:32,010 S1: How much money are we talking about if you're comfortable 313 00:19:32,010 --> 00:19:39,090 S1: sharing about $40,000. Okay. So and that's the total amount. 314 00:19:39,090 --> 00:19:41,050 S1: And then you'd pull from that the amount you need 315 00:19:41,050 --> 00:19:43,330 S1: for your medical expenses. 316 00:19:44,810 --> 00:19:47,690 S5: Uh, the total amount I think is 48. 317 00:19:47,890 --> 00:19:49,890 S1: Okay. Yeah. And how much do you think you need 318 00:19:49,890 --> 00:19:51,250 S1: to spend in the near term? 319 00:19:53,850 --> 00:19:55,370 S5: Probably eight. Okay. 320 00:19:55,530 --> 00:19:58,250 S1: Yeah. So you had 40,000 to invest. That's going to 321 00:19:58,250 --> 00:20:00,970 S1: be below what you would be able to hire an 322 00:20:00,970 --> 00:20:03,850 S1: advisor to manage. And so at that point you'd want 323 00:20:03,890 --> 00:20:06,370 S1: to decide do you want to do it yourself or 324 00:20:06,369 --> 00:20:08,929 S1: do you want to get some help? Um, our friends 325 00:20:08,930 --> 00:20:13,889 S1: at Sound Mind Investing could be helpful if they have 326 00:20:13,890 --> 00:20:17,530 S1: something called the Sound Mind Investing newsletter, and it is 327 00:20:17,530 --> 00:20:20,770 S1: available in a print form as well as a digital form. 328 00:20:20,770 --> 00:20:23,609 S1: But they would give you in in a strategy they 329 00:20:23,609 --> 00:20:28,450 S1: call just the basics. Um, some actual mutual fund and 330 00:20:28,450 --> 00:20:32,490 S1: exchange traded fund recommendations where, you know, you'd find kind 331 00:20:32,490 --> 00:20:35,850 S1: of what your risk level is and then you would 332 00:20:35,850 --> 00:20:40,450 S1: actually use their mutual fund recommendations. You could open a 333 00:20:40,450 --> 00:20:44,570 S1: brokerage account at Charles Schwab or Fidelity, and then you 334 00:20:44,570 --> 00:20:47,970 S1: would buy the mutual funds that they recommend at Sound 335 00:20:47,970 --> 00:20:51,369 S1: Mind Investing, and that could get you pointed in the 336 00:20:51,369 --> 00:20:54,050 S1: right direction. Get this money working for you, so you 337 00:20:54,050 --> 00:20:55,889 S1: could use it to have a little bit of a 338 00:20:55,930 --> 00:20:58,650 S1: nest egg down the road, try to grow it to 339 00:20:58,690 --> 00:21:02,210 S1: offset the effects of inflation. Um, but you'd still be 340 00:21:02,210 --> 00:21:06,610 S1: in some kind of very simple, broadly diversified mutual funds. 341 00:21:06,609 --> 00:21:08,570 S1: But at least you wouldn't have to start from scratch. 342 00:21:08,570 --> 00:21:11,890 S1: They'd give you some thoughts on which funds to pick. 343 00:21:11,930 --> 00:21:12,890 S1: Does that make sense? 344 00:21:14,250 --> 00:21:15,090 S4: Yes it does. 345 00:21:15,130 --> 00:21:18,930 S5: So I should go to sand mining. Org. Org. 346 00:21:19,369 --> 00:21:21,970 S1: That's exactly right. And you're going to want to subscribe 347 00:21:21,970 --> 00:21:25,370 S1: to the Sound Mind Investing newsletter. And then that will 348 00:21:25,369 --> 00:21:28,880 S1: give you the, uh, the the mutual fund recommendations. And 349 00:21:28,880 --> 00:21:31,480 S1: then they've got they're really helpful there. If you have 350 00:21:31,480 --> 00:21:34,080 S1: any questions they will assist you. But this would be 351 00:21:34,080 --> 00:21:36,680 S1: a great solution for somebody who's not ready for an 352 00:21:36,680 --> 00:21:41,719 S1: advisor but needs some actual recommendations. There they go, all 353 00:21:41,720 --> 00:21:44,880 S1: the way back to Larry Burkett. They're all believers and 354 00:21:44,920 --> 00:21:47,640 S1: they'll get you pointed in the right direction. Nancy, thanks 355 00:21:47,640 --> 00:21:50,200 S1: for your call today. Call anytime. We'll be right back. 356 00:22:00,520 --> 00:22:02,239 S1: Glad to have you with us today on Faith and 357 00:22:02,240 --> 00:22:04,960 S1: finance live here on Moody Radio. I'm Rob West. We're 358 00:22:04,960 --> 00:22:08,240 S1: taking your calls and questions today. Also in the next segment, 359 00:22:08,240 --> 00:22:11,440 S1: Jerry Boyer stops by. Jerry joins us each Friday with 360 00:22:11,440 --> 00:22:14,640 S1: his market commentary. The market closing, well, at least on 361 00:22:14,640 --> 00:22:20,080 S1: the Dow Jones down more than 500 points today as, uh, 362 00:22:20,080 --> 00:22:23,560 S1: inflation is weighing on the markets. A lot of, uh 363 00:22:23,600 --> 00:22:27,389 S1: question around AI and its impact on the economy also 364 00:22:27,910 --> 00:22:31,630 S1: impacting the markets. We'll get Jerry's take on that straight ahead. 365 00:22:32,030 --> 00:22:34,669 S1: By the way, my new devotional is out. It's called 366 00:22:34,670 --> 00:22:37,710 S1: Our Ultimate Treasure. You know, uh, I've had the privilege 367 00:22:37,710 --> 00:22:40,950 S1: of answering tens of thousands of questions from listeners on 368 00:22:40,950 --> 00:22:44,390 S1: this program. Every day. I hear from folks just like you, 369 00:22:44,430 --> 00:22:47,430 S1: men and women who genuinely want to be found faithful. 370 00:22:47,430 --> 00:22:50,350 S1: They want to honor the Lord with their finances, their time, 371 00:22:50,350 --> 00:22:53,750 S1: with their influence, and they wrestle with you. Wrestle with 372 00:22:53,750 --> 00:22:57,190 S1: questions in real life, in real life, like, what's the 373 00:22:57,190 --> 00:23:00,110 S1: wise decision? And what's the biblical approach? And what does 374 00:23:00,109 --> 00:23:04,109 S1: faithfulness look like in my situation? And what I believe 375 00:23:04,109 --> 00:23:06,869 S1: is that this is born out of a genuine desire 376 00:23:06,990 --> 00:23:10,270 S1: to honor the Lord. And so, in putting this 21 377 00:23:10,270 --> 00:23:15,310 S1: day devotional together, I really wanted to unpack those those 378 00:23:15,310 --> 00:23:19,510 S1: big ideas around saving and giving and investing that we 379 00:23:19,550 --> 00:23:22,590 S1: find in Scripture. Because at the end of the day, 380 00:23:22,590 --> 00:23:25,990 S1: we need to allow God to be our ultimate treasure, 381 00:23:25,990 --> 00:23:29,230 S1: not allow money to capture our hearts and shape what 382 00:23:29,230 --> 00:23:31,830 S1: we value and what we fear and where we place 383 00:23:31,830 --> 00:23:36,109 S1: our trust. But when God is our ultimate treasure, everything changes. 384 00:23:36,510 --> 00:23:39,510 S1: We'll talk about money in the devotional, but we also 385 00:23:39,510 --> 00:23:42,230 S1: talk about what it touches your family and your church 386 00:23:42,230 --> 00:23:44,950 S1: and your work and your rest and your influence. And 387 00:23:44,950 --> 00:23:47,110 S1: so I'd love to invite you to go on this 388 00:23:47,109 --> 00:23:50,510 S1: journey with me and allow God's Word to shape how 389 00:23:50,510 --> 00:23:53,830 S1: you see everything he's entrusted to you. If you'd like 390 00:23:53,830 --> 00:23:56,470 S1: to pick up a copy for yourself or your small group, 391 00:23:56,470 --> 00:23:59,470 S1: or maybe for some friends, just head over to Faith. 392 00:24:01,230 --> 00:24:04,710 S1: That's faith. Just click on shop at the top of 393 00:24:04,710 --> 00:24:07,310 S1: the page. All right, let's head back to the phones. 394 00:24:07,350 --> 00:24:10,670 S1: We'll talk to Jeff in Cleveland. I know he's on 395 00:24:10,670 --> 00:24:12,670 S1: the road, Jeff. You be careful. Go right ahead. 396 00:24:15,109 --> 00:24:16,310 S6: Hi. Can you hear me? Okay. 397 00:24:16,470 --> 00:24:17,629 S1: I sure can. Yes, sir. 398 00:24:18,830 --> 00:24:19,670 S6: Are you with me? 399 00:24:19,990 --> 00:24:20,709 S1: I am. 400 00:24:21,350 --> 00:24:22,340 S6: Can you hear me, sir? 401 00:24:22,540 --> 00:24:24,340 S1: I sure can. Can you hear me, Jeff? 402 00:24:24,380 --> 00:24:25,500 S6: Rob, I can't hear you. 403 00:24:25,540 --> 00:24:27,260 S1: All right, we're going to put you on hold and 404 00:24:27,260 --> 00:24:29,859 S1: let the team get that cleared up. And we'll go 405 00:24:29,859 --> 00:24:33,100 S1: to Saint Louis and talk to Stephanie. Stephanie, go right ahead. 406 00:24:33,340 --> 00:24:38,500 S7: I'm 63 years old, and I work for the police 407 00:24:38,500 --> 00:24:45,820 S7: department for 14 years full time. And I retired in 2024, 408 00:24:45,820 --> 00:24:52,940 S7: and they are paying me $259 in pension only, and 409 00:24:52,940 --> 00:24:57,260 S7: this is every month. So what's wrong with that? I mean, 410 00:24:57,300 --> 00:25:01,459 S7: is there a difference between pension and retirement? Because I'm 411 00:25:01,500 --> 00:25:05,100 S7: pretty sure for 14 years service, I should be getting 412 00:25:05,100 --> 00:25:07,660 S7: more than $259 a month. 413 00:25:08,060 --> 00:25:11,180 S1: Yes. Well, I certainly understand that. So you said you 414 00:25:11,180 --> 00:25:14,780 S1: were there for 14 years. Um, are you clear on 415 00:25:14,859 --> 00:25:18,460 S1: what the retirement options are? And what do you know 416 00:25:18,460 --> 00:25:21,260 S1: about what you have available to you beyond just this 417 00:25:21,260 --> 00:25:22,540 S1: monthly income stream. 418 00:25:23,700 --> 00:25:27,460 S7: I talked to them and they are like fighting me 419 00:25:27,460 --> 00:25:31,379 S7: on it. Now that I'm getting the pension, they're going. 420 00:25:31,420 --> 00:25:35,540 S7: They're beating around the bush as far as retirement. And 421 00:25:35,540 --> 00:25:38,300 S7: and that was what I'm wondering. Is there a difference 422 00:25:38,300 --> 00:25:43,020 S7: between pension money and retirement money because they're fighting me 423 00:25:43,020 --> 00:25:47,620 S7: as far as now, trying to say I want my retirement. 424 00:25:47,619 --> 00:25:49,540 S7: What is you know, how much would it be if 425 00:25:49,540 --> 00:25:53,260 S7: I'm 63? How much should I be getting in retirement? 426 00:25:53,260 --> 00:25:55,379 S7: And they're fighting me on it now that I'm getting 427 00:25:55,380 --> 00:25:56,100 S7: the pension. 428 00:25:56,780 --> 00:25:59,420 S1: I see. Yeah, I think I would just continue to 429 00:25:59,460 --> 00:26:02,060 S1: dialogue with them about what's possible. I mean, the first 430 00:26:02,060 --> 00:26:06,260 S1: question is always, where are you? What's called vested? But 431 00:26:06,300 --> 00:26:11,380 S1: most public safety pension systems require 5 to 10 years 432 00:26:11,420 --> 00:26:14,220 S1: at a minimum to vest. And obviously with 14 years 433 00:26:14,220 --> 00:26:17,340 S1: of service, you should be vested in just about every 434 00:26:17,500 --> 00:26:21,490 S1: system I know of. I will say police pensions are 435 00:26:21,490 --> 00:26:26,690 S1: typically designed to reward 20 to 25 plus years of service. 436 00:26:27,010 --> 00:26:30,129 S1: So leaving at 14 years could be part of the 437 00:26:30,130 --> 00:26:34,290 S1: reason it's a smaller benefit. Um, but because years of 438 00:26:34,290 --> 00:26:38,650 S1: service is really one of the keys alongside the multiplier 439 00:26:38,650 --> 00:26:42,770 S1: they use and your final average salary to determine how 440 00:26:42,770 --> 00:26:47,770 S1: much you would ultimately get, uh, possible explanations. I mean, 441 00:26:47,770 --> 00:26:50,210 S1: let me think first. It could be, you know, were 442 00:26:50,210 --> 00:26:54,610 S1: you in a different tier or plan? So some departments 443 00:26:54,609 --> 00:26:59,409 S1: move from traditional pensions to what are called hybrid plans, 444 00:26:59,410 --> 00:27:01,570 S1: where you have a portion that you get as a 445 00:27:01,570 --> 00:27:05,410 S1: monthly check, and then a portion that is more of 446 00:27:05,450 --> 00:27:10,010 S1: an investment portion that you know, can grow for you 447 00:27:10,010 --> 00:27:13,129 S1: over time. Uh, so I think what I would do 448 00:27:13,170 --> 00:27:16,130 S1: as a next step is I would, uh, request a 449 00:27:16,130 --> 00:27:20,330 S1: written explanation of the benefit calculation. So how did they 450 00:27:20,330 --> 00:27:24,489 S1: ultimately arrive at the amount that you're receiving? They need 451 00:27:24,490 --> 00:27:26,810 S1: to be able to give you a written explanation of that. 452 00:27:27,050 --> 00:27:30,850 S1: You would want to ask for your years of credited 453 00:27:30,850 --> 00:27:34,210 S1: service to make sure there's not any mistakes there. What 454 00:27:34,210 --> 00:27:38,930 S1: your final average salary was that they're using, and then 455 00:27:38,930 --> 00:27:43,570 S1: any kind of early retirement reduction. Um, and then I 456 00:27:43,570 --> 00:27:46,889 S1: would also ask for a confirmation of your plan tier. 457 00:27:46,890 --> 00:27:51,170 S1: So which plan do they have you in? Um, are 458 00:27:51,170 --> 00:27:53,010 S1: you receiving Social Security? 459 00:27:53,930 --> 00:27:54,530 S7: No. 460 00:27:55,810 --> 00:27:59,050 S1: Okay. Um, have you checked your benefit statement to see 461 00:27:59,050 --> 00:28:01,770 S1: what Social Security you will be eligible for? 462 00:28:03,010 --> 00:28:06,570 S7: Yes, I've been keeping up with that. Pretty much. 463 00:28:08,010 --> 00:28:10,810 S1: Okay, good. So are you going to try to delay 464 00:28:10,810 --> 00:28:12,969 S1: that and take that at full retirement age, or are 465 00:28:12,970 --> 00:28:14,410 S1: you planning to take it early? 466 00:28:15,359 --> 00:28:17,760 S7: I'm going to I'm going to hold out because I'm 467 00:28:17,760 --> 00:28:20,760 S7: I'm in pretty good health. I'm 63 and I do 468 00:28:20,800 --> 00:28:25,280 S7: work still now part time. Um, at, at the, at 469 00:28:25,280 --> 00:28:30,000 S7: a hospital. You know, I'm no longer with the police department. Um, so. Yeah, 470 00:28:30,040 --> 00:28:30,800 S7: but I'm holding on. 471 00:28:30,800 --> 00:28:31,280 S8: Okay. Great. 472 00:28:31,280 --> 00:28:32,040 S7: Social security. 473 00:28:32,440 --> 00:28:34,840 S1: Yeah, that's a great move. I love that, especially if 474 00:28:34,840 --> 00:28:37,879 S1: you can supplement your income, other places that's going to 475 00:28:37,880 --> 00:28:40,360 S1: get that check up a little bit higher. You'll be 476 00:28:40,360 --> 00:28:42,600 S1: glad you did that down the road, not only because 477 00:28:42,600 --> 00:28:45,120 S1: you'll get a higher check for the rest of your life, uh, 478 00:28:45,120 --> 00:28:48,120 S1: but your cost of living adjustments will be based on 479 00:28:48,120 --> 00:28:50,480 S1: a higher amount, so that's a good thing. So I 480 00:28:50,480 --> 00:28:52,600 S1: think your next step here is just to circle back 481 00:28:52,600 --> 00:28:57,120 S1: with them, get confirmation of all those things that I mentioned. Ideally, 482 00:28:57,120 --> 00:28:59,160 S1: what you'd find is they made a they made an 483 00:28:59,160 --> 00:29:02,080 S1: error somewhere and that you should be getting more. But 484 00:29:02,080 --> 00:29:04,360 S1: a lot of that will come out as you request 485 00:29:04,560 --> 00:29:08,320 S1: the explanation of benefits. Uh, Stephanie, thank you for your 486 00:29:08,320 --> 00:29:11,360 S1: call today. We appreciate you being on the program. Uh, let's, uh, 487 00:29:11,360 --> 00:29:13,920 S1: try to go back to Jeff in Cleveland. Jeff, hopefully 488 00:29:14,040 --> 00:29:15,240 S1: we have you now. Go ahead. 489 00:29:16,840 --> 00:29:21,040 S6: Hi, Rob. Hi. I'm 62 years old and I don't 490 00:29:21,040 --> 00:29:26,240 S6: have any IRAs right now, but I do have very 491 00:29:26,240 --> 00:29:30,480 S6: close to 15,000 and special medals. Now, I've purchased these 492 00:29:30,480 --> 00:29:35,880 S6: special medals from two different organizations. Um, and the last time, 493 00:29:36,120 --> 00:29:38,840 S6: which was actually just last week, we went ahead and 494 00:29:38,840 --> 00:29:41,840 S6: we bought 6000. I talked to the gentleman about putting 495 00:29:41,840 --> 00:29:44,760 S6: it in an IRA, and he wasn't so sure how 496 00:29:44,760 --> 00:29:48,200 S6: to do it. Um, and my question is, is what 497 00:29:48,280 --> 00:29:50,760 S6: type of IRA would be good for me to go 498 00:29:50,800 --> 00:29:52,880 S6: ahead and try to put this stuff into? 499 00:29:53,600 --> 00:29:57,320 S1: Yeah. Unfortunately, you can't move gold and silver you already 500 00:29:57,360 --> 00:30:02,040 S1: own into a regular IRA. The IRS doesn't allow you to, uh, 501 00:30:02,200 --> 00:30:06,280 S1: personally own metals and then contribute them directly to an IRA. 502 00:30:06,320 --> 00:30:09,280 S1: The metals would have to be sold first, and then 503 00:30:09,280 --> 00:30:12,320 S1: the cash would be contributed to what's called a precious 504 00:30:12,470 --> 00:30:16,830 S1: metals IRA, which is basically a type of self-directed IRA 505 00:30:17,270 --> 00:30:21,430 S1: that can own metals. And then once you open that 506 00:30:21,470 --> 00:30:26,750 S1: precious metals IRA, then the metals could be repurchased, but 507 00:30:26,750 --> 00:30:30,270 S1: they would be held by the custodian. The custodian is 508 00:30:30,270 --> 00:30:34,070 S1: the person that opens the self-directed IRA for you. That 509 00:30:34,070 --> 00:30:36,990 S1: would meet the IRS standards. It would be stored in 510 00:30:36,990 --> 00:30:40,870 S1: an approved depository. You couldn't store it at home. There 511 00:30:40,870 --> 00:30:43,910 S1: are some additional costs there, but it is something you 512 00:30:43,910 --> 00:30:46,150 S1: could do. So next step for you would be to 513 00:30:46,190 --> 00:30:49,710 S1: sell it. Get that precious metals IRA open. Thanks for 514 00:30:49,710 --> 00:31:00,270 S1: your call. We'll be right back. Great to have you 515 00:31:00,270 --> 00:31:02,470 S1: with us today on Faith and Finance Live. I'm Rob 516 00:31:02,470 --> 00:31:05,070 S1: West here in our final segment today. Jerry Bowyer is here. 517 00:31:05,070 --> 00:31:08,790 S1: Jerry's our resident economist. He joins us each Friday. Jerry 518 00:31:08,830 --> 00:31:13,630 S1: the market under some pressure I think inflation's stickiness weighing 519 00:31:13,630 --> 00:31:16,710 S1: on the markets but also AI. You know we were 520 00:31:16,710 --> 00:31:19,390 S1: wondering I think the last several weeks have these stocks 521 00:31:19,390 --> 00:31:22,670 S1: gotten ahead of themselves. Now we've got the CEO of 522 00:31:22,670 --> 00:31:27,950 S1: anthropic out talking about perhaps 10 to 20% unemployment as 523 00:31:27,950 --> 00:31:32,710 S1: entry level white collar jobs are ravaged through our economy 524 00:31:32,710 --> 00:31:35,230 S1: in the next 1 to 3 years. I'd love your 525 00:31:35,230 --> 00:31:37,230 S1: thoughts on that. I know you've thought about this quite 526 00:31:37,230 --> 00:31:39,150 S1: a bit. You and I have talked about AI in 527 00:31:39,190 --> 00:31:41,790 S1: the past and just, you know, seeing it almost like 528 00:31:41,830 --> 00:31:45,070 S1: a a full time intern. But we gotta check the 529 00:31:45,110 --> 00:31:48,910 S1: work quite a bit. But just with the pace of advancements, 530 00:31:48,910 --> 00:31:50,910 S1: what do you think the impact could be in the 531 00:31:50,910 --> 00:31:52,390 S1: near term on the economy? 532 00:31:52,790 --> 00:31:55,430 S9: Yeah. Well, um, so I can loop back to the 533 00:31:55,430 --> 00:31:58,710 S9: inflation issue first. I'll go in reverse order on on AI. 534 00:31:58,990 --> 00:32:00,590 S9: I think, you know, you and I have been talking 535 00:32:00,590 --> 00:32:02,550 S9: about this really a couple of years. And I said, look, 536 00:32:02,550 --> 00:32:05,750 S9: this is a really promising technology. The valuations are probably 537 00:32:05,750 --> 00:32:09,030 S9: ahead of themselves, but some of that valuation is at 538 00:32:09,030 --> 00:32:12,940 S9: the expense of other valuations. The way I said it 539 00:32:12,940 --> 00:32:16,980 S9: is that if AI works, it has to cannibalize something else. 540 00:32:17,220 --> 00:32:20,100 S9: If AI is a way to save costs, then whose 541 00:32:20,100 --> 00:32:23,140 S9: cost is it saving? Um, and you really don't have 542 00:32:23,140 --> 00:32:27,340 S9: major cost savings in corporate America without, for instance, payroll 543 00:32:27,340 --> 00:32:31,820 S9: cost savings, because that's usually the, you know, the biggest item. Um, and, 544 00:32:31,860 --> 00:32:33,700 S9: you know, that was kind of my gut feeling a 545 00:32:33,700 --> 00:32:36,660 S9: couple of years ago. And now that idea has developed more. 546 00:32:36,860 --> 00:32:41,900 S9: Same metaphor, uh, which is that AI eats software. What 547 00:32:41,900 --> 00:32:46,620 S9: does that mean? That that companies that, you know, create software, um, 548 00:32:46,620 --> 00:32:50,020 S9: that do programming, that create complex systems that are used 549 00:32:50,020 --> 00:32:54,780 S9: by businesses, um, might be outcompeted if AI can do it. 550 00:32:54,820 --> 00:32:56,300 S9: You know, I just talked to a programmer a couple 551 00:32:56,300 --> 00:32:58,540 S9: of days ago. This is, you know, a serious person. 552 00:32:58,540 --> 00:33:00,780 S9: He's in the financial industry along with you and I. 553 00:33:01,340 --> 00:33:04,420 S9: And he said he is just amazed by what Claude 554 00:33:04,420 --> 00:33:06,820 S9: is doing, just churning out thousands of lines of code, 555 00:33:06,820 --> 00:33:10,970 S9: and it's working. Uh, so this thing really does something, 556 00:33:10,970 --> 00:33:14,250 S9: but I think the people who are just, like, dizzily optimistic, 557 00:33:14,650 --> 00:33:17,970 S9: you know, didn't stop to think, okay, who loses? Because 558 00:33:17,970 --> 00:33:21,850 S9: when you have a disruptive technology, somebody gets disrupted. Uh, 559 00:33:21,850 --> 00:33:24,010 S9: and I think a lot of that is software, and 560 00:33:24,010 --> 00:33:27,010 S9: a lot of that is employment as an employment across 561 00:33:27,010 --> 00:33:30,010 S9: the board is an employment over the long term. Look, 562 00:33:30,010 --> 00:33:33,490 S9: when somebody invented the automobile, that was, in the long run, 563 00:33:33,490 --> 00:33:37,530 S9: bad news for people who bred horses and made horseshoes. Uh, 564 00:33:37,970 --> 00:33:40,370 S9: but it was, you know, over the long run, good 565 00:33:40,370 --> 00:33:43,410 S9: for the American economy, uh, and good for people who 566 00:33:43,410 --> 00:33:46,170 S9: instead of, you know, breeding horses, you know, worked in 567 00:33:46,250 --> 00:33:49,050 S9: factories for Henry Ford, made a lot more money, uh, 568 00:33:49,050 --> 00:33:51,370 S9: of doing that. Um, and you don't have to clean 569 00:33:51,370 --> 00:33:53,450 S9: up your car the same way you had to clean 570 00:33:53,450 --> 00:33:56,090 S9: up after your horse. So there's that benefit as well. 571 00:33:56,090 --> 00:33:59,770 S9: But there's an adjustment period when people are trained for 572 00:33:59,770 --> 00:34:02,770 S9: one thing, but that so people who maybe who are 573 00:34:02,770 --> 00:34:06,850 S9: really good at writing code. Uh, now there's software that 574 00:34:06,850 --> 00:34:09,530 S9: writes code. So who does that hurt? It probably doesn't 575 00:34:09,530 --> 00:34:12,610 S9: hurt like a senior software engineer, because they're going to 576 00:34:12,610 --> 00:34:15,089 S9: be really good at telling AI how to write code. 577 00:34:15,130 --> 00:34:18,569 S9: They are above the line, right? But what about the 578 00:34:18,570 --> 00:34:22,610 S9: people below the line? You know, new entrants, new college grads. 579 00:34:22,770 --> 00:34:25,609 S9: You know, that's a tougher situation for them. So I 580 00:34:25,610 --> 00:34:28,930 S9: think what we're seeing is AI valuations got a little high. 581 00:34:29,290 --> 00:34:32,609 S9: But that AI, you know, that wealth creation had to 582 00:34:32,650 --> 00:34:35,370 S9: come at the expense of something else. And now we're 583 00:34:35,370 --> 00:34:38,010 S9: starting to do some serious thinking about what the something 584 00:34:38,010 --> 00:34:40,130 S9: elses are who are disrupted by that. 585 00:34:40,850 --> 00:34:45,489 S1: Yeah really helpful Jerry. Obviously the fed is is processing 586 00:34:45,489 --> 00:34:49,730 S1: all of this, including this sticky inflation that we've got. Um, 587 00:34:50,130 --> 00:34:52,890 S1: where do you think they're headed from here? Uh, as 588 00:34:52,890 --> 00:34:55,370 S1: we move into the next few meetings? 589 00:34:56,050 --> 00:34:58,089 S9: Less likely, I think, to have a cut than they 590 00:34:58,090 --> 00:35:02,450 S9: would have been before today's wholesale prices data. Um, which 591 00:35:02,450 --> 00:35:04,050 S9: is I think one of the reasons why the market 592 00:35:04,050 --> 00:35:06,800 S9: is down. I mean, the idea that AI eats software 593 00:35:06,800 --> 00:35:10,200 S9: doesn't explain why the Dow is down. Right. And and 594 00:35:10,200 --> 00:35:12,040 S9: the S&P is down. I mean, it might explain why 595 00:35:12,040 --> 00:35:14,439 S9: the Nasdaq is down, but it doesn't explain why this 596 00:35:14,440 --> 00:35:18,160 S9: is a broader retreat. Um, so what does that mean? Well, 597 00:35:18,160 --> 00:35:20,880 S9: that typically means, you know, the markets think the central 598 00:35:20,880 --> 00:35:23,799 S9: bank is not going to be easy. Now, the president 599 00:35:23,800 --> 00:35:28,000 S9: definitely wants easy money. Every president wants easy money except 600 00:35:28,040 --> 00:35:30,960 S9: Ronald Reagan. He said, all right, Paul Volcker, do what 601 00:35:30,960 --> 00:35:34,320 S9: you need to do. We'll get through it. Uh, but generally, 602 00:35:34,320 --> 00:35:37,239 S9: presidents are going to say, you know, let the good 603 00:35:37,239 --> 00:35:40,400 S9: times roll. You know, don't don't take away the punch bowl. 604 00:35:40,480 --> 00:35:44,839 S9: And President Trump has been unusually aggressive in saying, don't 605 00:35:44,880 --> 00:35:47,520 S9: take away the punch bowl. So, you know, he pressured 606 00:35:47,520 --> 00:35:50,279 S9: the fed for for these rate cuts. Rate cuts just 607 00:35:50,280 --> 00:35:52,840 S9: means running the printing press while they were in the 608 00:35:52,840 --> 00:35:55,719 S9: printing press. And if you run the printing press you're 609 00:35:55,719 --> 00:35:58,239 S9: not going to get rid of inflation. And so the 610 00:35:58,239 --> 00:36:01,440 S9: January number for wholesale prices was half a percent. That 611 00:36:01,440 --> 00:36:03,640 S9: doesn't sound so bad. No that's half a percent for 612 00:36:03,640 --> 00:36:07,200 S9: a month. Okay, so half a percent times 12 months 613 00:36:07,200 --> 00:36:10,400 S9: would be 6% annualized. Now that's not back as high 614 00:36:10,400 --> 00:36:13,920 S9: as it was under Biden. But that's high right. So 615 00:36:13,960 --> 00:36:16,560 S9: that that's not good. Uh, and I think it's a 616 00:36:16,560 --> 00:36:21,080 S9: combination of easy money and tariffs. Tariffs raise prices. Now 617 00:36:21,080 --> 00:36:23,439 S9: I get that some people say it's worth it. We're 618 00:36:23,440 --> 00:36:27,399 S9: going to raise prices but we'll help American manufacturers I'm 619 00:36:27,400 --> 00:36:29,480 S9: not going to tell them they're wrong. All I'm going 620 00:36:29,520 --> 00:36:33,400 S9: to say is there is a trade off there. Tariffs 621 00:36:33,440 --> 00:36:37,239 S9: raise prices. That's their job. It's not an accident. They 622 00:36:37,239 --> 00:36:41,399 S9: raise prices so that domestic producers can get, you know, 623 00:36:41,440 --> 00:36:45,080 S9: can compete with foreign producers who are producing more cheaply. 624 00:36:45,200 --> 00:36:47,560 S9: So don't be surprised if we have inflation. So what 625 00:36:47,560 --> 00:36:49,719 S9: does that mean? Well, if we have inflation that means 626 00:36:49,719 --> 00:36:51,440 S9: that a little less it's a little less likely the 627 00:36:51,440 --> 00:36:53,719 S9: Fed's going to give in to pressure from the president 628 00:36:53,719 --> 00:36:56,000 S9: and pump new money into the system. If it's going 629 00:36:56,000 --> 00:36:57,320 S9: up half a percent a month. 630 00:36:57,920 --> 00:37:01,160 S1: Yeah that's really helpful. All right Jerry, let's pivot here. Uh, 631 00:37:01,270 --> 00:37:03,950 S1: Corporate engagement. We've been talking about this for some time, 632 00:37:03,950 --> 00:37:07,270 S1: and this is the idea that investors use their ownership 633 00:37:07,270 --> 00:37:11,390 S1: in a company to influence how that company behaves. Now, 634 00:37:11,390 --> 00:37:15,150 S1: for a long time, Christians have been absent from that conversation, 635 00:37:15,150 --> 00:37:19,149 S1: and those who were influencing companies were doing it with 636 00:37:19,150 --> 00:37:22,790 S1: a political agenda in mind. I know that's not the 637 00:37:22,790 --> 00:37:25,750 S1: approach you're taking, but share with us some of the 638 00:37:25,750 --> 00:37:27,910 S1: good news about what's happening in this space. 639 00:37:28,469 --> 00:37:31,990 S9: Yeah, we're engaging with an anti-political agenda. So I think 640 00:37:32,030 --> 00:37:34,510 S9: it took a little while for companies to figure that out. 641 00:37:34,710 --> 00:37:38,910 S9: So companies were giving money. Almost every big company was 642 00:37:38,910 --> 00:37:41,509 S9: giving money to the Human Rights Campaign, or a lot 643 00:37:41,510 --> 00:37:43,830 S9: of them were using the Southern Poverty Law Center hate 644 00:37:43,830 --> 00:37:47,790 S9: group list to discriminate against charities. Um, and we just 645 00:37:47,790 --> 00:37:51,150 S9: engaged with these companies to say you should probably just 646 00:37:51,150 --> 00:37:54,270 S9: match to all the charities when your employee match program. 647 00:37:54,270 --> 00:37:55,790 S9: And at first they were saying, oh, it sounds like 648 00:37:55,830 --> 00:37:57,629 S9: you want to do just what the other side is doing. 649 00:37:57,670 --> 00:38:00,790 S9: I'm the particular company that said that I said, no, 650 00:38:00,950 --> 00:38:03,190 S9: we're not saying you shouldn't give to the Human Rights Campaign. 651 00:38:03,190 --> 00:38:05,069 S9: If an employee gives to the Human Rights Campaign and 652 00:38:05,070 --> 00:38:07,670 S9: you have an employee match, then you match to that. 653 00:38:07,670 --> 00:38:09,630 S9: If they give to the ACLU and you have an 654 00:38:09,630 --> 00:38:12,350 S9: employee match, then you match to that. But if they 655 00:38:12,350 --> 00:38:14,830 S9: give to a turning point or they give to the 656 00:38:14,830 --> 00:38:18,390 S9: Heritage Foundation or they give to Family Research Council, well, 657 00:38:18,390 --> 00:38:20,469 S9: then you match to that too, you know? So I'm 658 00:38:20,469 --> 00:38:23,430 S9: just looking at Disney because we just, you know, recorded 659 00:38:23,430 --> 00:38:26,190 S9: the message that's going to the Disney company because there 660 00:38:26,190 --> 00:38:28,910 S9: were some reports that Disney, you know, didn't, you know, 661 00:38:28,950 --> 00:38:31,270 S9: fund any faith based charities in their in their match. 662 00:38:31,270 --> 00:38:33,710 S9: And they said, well that's not true. That's completely material 663 00:38:33,710 --> 00:38:36,710 S9: and misleading. Okay, fine. We looked into it. Yeah, that 664 00:38:36,710 --> 00:38:38,549 S9: was a little off. But it turns out that they 665 00:38:38,550 --> 00:38:44,030 S9: have a list of charities they like glisten glad uh, 666 00:38:44,150 --> 00:38:48,150 S9: Human Rights Campaign, these are recommended. And then Turning Point 667 00:38:48,150 --> 00:38:50,589 S9: is not eligible. You have to nominate it. You have 668 00:38:50,590 --> 00:38:53,150 S9: to stick your neck out. You know, you've already seen 669 00:38:53,150 --> 00:38:57,190 S9: what the bosses think are good charities, right? Um, and 670 00:38:57,190 --> 00:39:01,100 S9: now you're going to nominate a charity that's kind of 671 00:39:01,140 --> 00:39:05,540 S9: the opposite of that or Family Research Council, um, which 672 00:39:05,580 --> 00:39:08,219 S9: in fact isn't even eligible to be nominated according to 673 00:39:08,219 --> 00:39:10,140 S9: some of the reports I'm saying. So we did a 674 00:39:10,140 --> 00:39:12,940 S9: proposal saying you shouldn't discriminate, you know, and they said, 675 00:39:12,940 --> 00:39:15,339 S9: we don't discriminate. And we said, well, what are your 676 00:39:15,340 --> 00:39:18,860 S9: standards for matching? And do you match to everything? No, 677 00:39:18,860 --> 00:39:21,259 S9: we don't match to everything we have. Um, what did 678 00:39:21,260 --> 00:39:25,060 S9: they say we have we have certain standards and we 679 00:39:25,060 --> 00:39:28,700 S9: have terms and conditions and other things. We said, okay, 680 00:39:28,700 --> 00:39:31,739 S9: what does that mean? Terms and conditions and other things. 681 00:39:31,739 --> 00:39:33,700 S9: What are the other things. Could you you know, we 682 00:39:33,700 --> 00:39:35,460 S9: can't really we can't we can't print out all the 683 00:39:35,460 --> 00:39:39,180 S9: eligible charities. No, you can't print out 50,000 eligible charities. 684 00:39:39,180 --> 00:39:42,020 S9: But you can tell us what other things means. Well, 685 00:39:42,060 --> 00:39:45,260 S9: we know now, um, it seems to be they like 686 00:39:45,260 --> 00:39:50,060 S9: left of center charities. They do not like conservative Christian charities. Um, 687 00:39:50,060 --> 00:39:53,540 S9: so just be straight with us. Um, and. No, don't 688 00:39:53,540 --> 00:39:56,180 S9: just be straight with us. Get rid of discrimination. Make 689 00:39:56,180 --> 00:40:00,060 S9: your charitable match, regardless of the political or religious viewpoint. 690 00:40:00,060 --> 00:40:04,500 S9: That is the gold standard. That's neutrality. Give to the ACLU, 691 00:40:04,500 --> 00:40:07,940 S9: but also to Family Research Council or shut it down. 692 00:40:07,980 --> 00:40:10,259 S9: We're fine with either of those, but you can't have 693 00:40:10,260 --> 00:40:11,380 S9: your thumb on the scale. 694 00:40:11,940 --> 00:40:15,180 S1: Yeah, well, and the IRS has a pretty, uh, thoughtful 695 00:40:15,180 --> 00:40:19,300 S1: process about who they extend C3 status to as a 696 00:40:19,340 --> 00:40:21,860 S1: not for profit charity. You could just use that. Right. 697 00:40:22,219 --> 00:40:24,259 S9: And that's what we recommend. They have a list that 698 00:40:24,260 --> 00:40:27,339 S9: they publish where everyone who's got a termination letter. Now, 699 00:40:27,340 --> 00:40:29,620 S9: there's some charities that are so small they don't get 700 00:40:29,620 --> 00:40:32,500 S9: a termination letter. Fine. All right. Don't do those. But 701 00:40:32,500 --> 00:40:37,180 S9: anyone who is the IRS has an official website. These 702 00:40:37,180 --> 00:40:42,140 S9: are confirmed 501 C3. That's the that's the neutral position. 703 00:40:42,140 --> 00:40:44,420 S9: And who's going to complain about that? Uh, if you 704 00:40:44,420 --> 00:40:48,220 S9: say otherwise, you're always choosing who's good enough. Who's is 705 00:40:48,580 --> 00:40:51,779 S9: First Baptist good enough, or are they not? Well, now 706 00:40:51,780 --> 00:40:53,620 S9: the winds are going in the other direction. Maybe we 707 00:40:53,660 --> 00:40:56,410 S9: don't like the Human Rights Campaign. Just get out of 708 00:40:56,450 --> 00:40:59,490 S9: that business. Who's going to argue with the IRS? Says 709 00:40:59,489 --> 00:41:02,330 S9: it's a charity. It's a charity. Leave it at that. 710 00:41:03,050 --> 00:41:06,730 S1: Mm. Jerry, uh, you mentioned your engagement with Disney. I 711 00:41:06,730 --> 00:41:09,930 S1: know others have gone better than that more recently. What 712 00:41:09,930 --> 00:41:11,770 S1: would be one win you could celebrate? 713 00:41:12,290 --> 00:41:16,009 S9: Bank of America basically said you're right. If the if 714 00:41:16,010 --> 00:41:18,370 S9: the IRS says it's a charity, we're going to treat 715 00:41:18,370 --> 00:41:21,169 S9: it as a charity. That makes a lot of sense. Uh, 716 00:41:21,170 --> 00:41:23,649 S9: and that gets them into the position of neutrality, which 717 00:41:23,650 --> 00:41:25,530 S9: is why I think they wanted to be all along. 718 00:41:25,570 --> 00:41:27,850 S9: I think a lot of these companies, there's this outside 719 00:41:27,850 --> 00:41:32,169 S9: group called Benevity that administers charitable programs for companies because 720 00:41:32,170 --> 00:41:34,490 S9: that's not their expertise. If you're Nike, you do sneakers. 721 00:41:34,489 --> 00:41:36,730 S9: If you're Bank of America, you do banking. All right. 722 00:41:36,770 --> 00:41:39,890 S9: So there's an outside consultant called Benevity. But over and 723 00:41:39,890 --> 00:41:42,450 S9: over again we run into companies that say, we didn't 724 00:41:42,450 --> 00:41:45,129 S9: know that we had a, quote, hate group list. And 725 00:41:45,130 --> 00:41:48,650 S9: we didn't know that that hate group list glommed together genuine, 726 00:41:48,690 --> 00:41:55,370 S9: just regular mainstream Christian organizations like James Dobson with the Klan. Uh, 727 00:41:55,489 --> 00:41:57,410 S9: so we so we turned that off, or we didn't 728 00:41:57,410 --> 00:42:00,290 S9: know that it discriminated against churches and synagogues and mosques, 729 00:42:00,290 --> 00:42:02,489 S9: so they turned that off. That's the thing we've seen 730 00:42:02,489 --> 00:42:05,170 S9: a lot of success on from so many. Biggest company 731 00:42:05,170 --> 00:42:07,170 S9: in the world, Nvidia said, all right. We're we're not 732 00:42:07,170 --> 00:42:10,570 S9: going to do that. Um that's neutrality. We're not trying 733 00:42:10,570 --> 00:42:14,129 S9: to make them conservative or Christian. We're trying to get 734 00:42:14,130 --> 00:42:17,089 S9: them back to their original calling. Goods and services at 735 00:42:17,090 --> 00:42:18,410 S9: a profit for shareholders. 736 00:42:19,090 --> 00:42:22,530 S1: Wow. It's important work, Jerry. Well done. All right, my friend, 737 00:42:22,530 --> 00:42:23,690 S1: thanks for your time today. 738 00:42:24,090 --> 00:42:24,650 S9: Thank you. 739 00:42:25,250 --> 00:42:27,930 S1: All right, that's Jerry Boyer. He joins us each Friday, 740 00:42:27,930 --> 00:42:30,410 S1: and we always look forward to our time together. Folks, 741 00:42:30,410 --> 00:42:33,370 S1: thanks for being with us today and for your calls 742 00:42:33,370 --> 00:42:36,370 S1: for listening, for your encouragement, for supporting the ministry. By 743 00:42:36,370 --> 00:42:37,810 S1: the way, here at the end of the month, if 744 00:42:37,850 --> 00:42:40,529 S1: you'd like to support Faith fi, we'd be grateful. Go 745 00:42:40,530 --> 00:42:44,850 S1: to Faith. Give big thanks to my team today, Josh, 746 00:42:44,890 --> 00:42:47,370 S1: to hear a Taylor and Omar faith in finance lives 747 00:42:47,370 --> 00:42:50,810 S1: a partnership between Moody Radio and Faith fi. See you Monday.