1 00:00:02,960 --> 00:00:06,680 S1: Today's faith and finance live is actually not live. So 2 00:00:06,680 --> 00:00:09,159 S1: our phone lines are not open for, you know, the 3 00:00:09,160 --> 00:00:12,280 S1: grace of our Lord Jesus Christ, that though he was rich, 4 00:00:12,320 --> 00:00:15,480 S1: yet for your sake he became poor, so that you 5 00:00:15,480 --> 00:00:20,360 S1: by his poverty might become rich. Second Corinthians eight nine. Hi, 6 00:00:20,360 --> 00:00:23,040 S1: I'm Rob West. It's Good Friday, the day we set 7 00:00:23,040 --> 00:00:26,520 S1: aside to reflect on the crucifixion of Christ and what 8 00:00:26,560 --> 00:00:30,800 S1: truly happened on that cross almost 2000 years ago. We'll 9 00:00:30,800 --> 00:00:34,320 S1: talk about the greatest act of grace in human history. 10 00:00:34,560 --> 00:00:36,800 S1: Then we have some great calls lined up, but please 11 00:00:36,800 --> 00:00:40,200 S1: don't call in today because we're pre-recorded. This is faith 12 00:00:40,200 --> 00:00:50,519 S1: and finance. Live biblical wisdom for your financial journey. For centuries, 13 00:00:50,520 --> 00:00:54,240 S1: Christians have called this day Good Friday and it is good. 14 00:00:54,280 --> 00:00:57,320 S1: But not because the events were easy or light hearted. 15 00:00:57,320 --> 00:01:00,750 S1: It's good because of what Christ accomplished for us. For 16 00:01:00,750 --> 00:01:04,230 S1: many believers, this day carries a mix of emotions. There's 17 00:01:04,230 --> 00:01:07,950 S1: the sorrow of remembering the suffering Jesus endured and the 18 00:01:07,950 --> 00:01:10,830 S1: weight of knowing it was our sin that led him there. 19 00:01:10,910 --> 00:01:14,470 S1: And yet, there's also overwhelming gratitude for the love of 20 00:01:14,470 --> 00:01:17,190 S1: the father who gave his son, and for the son 21 00:01:17,190 --> 00:01:20,230 S1: who willingly laid down his life. It's a day to 22 00:01:20,270 --> 00:01:23,590 S1: reflect on the reality that Jesus bore the full weight 23 00:01:23,590 --> 00:01:26,670 S1: of our sins on the cross, suffering in our place 24 00:01:26,670 --> 00:01:29,790 S1: so that we could be reconciled to God. That's the 25 00:01:29,790 --> 00:01:33,590 S1: wonder of the cross. But along with sorrow and gratitude, 26 00:01:33,590 --> 00:01:37,510 S1: there's also anticipation. Because we know what Sunday brings, the 27 00:01:37,510 --> 00:01:41,310 S1: resurrection of Jesus and the promise of eternal life with him. 28 00:01:41,430 --> 00:01:43,750 S1: Good Friday is not the end of the story, it's 29 00:01:43,750 --> 00:01:46,910 S1: the turning point. And that's why we call it good. Now, 30 00:01:46,910 --> 00:01:49,870 S1: here on Faith in finance, we often talk about money, 31 00:01:49,910 --> 00:01:52,670 S1: how to steward it well and use it for God's glory. 32 00:01:52,670 --> 00:01:58,190 S1: But the Bible also uses financial imagery to describe spiritual realities. 33 00:01:58,370 --> 00:02:02,890 S1: In fact, Scripture is full of words like debt, ransom, redemption, 34 00:02:02,890 --> 00:02:07,250 S1: and inheritance because those terms helped people understand the profound 35 00:02:07,250 --> 00:02:11,889 S1: truths of the gospel in everyday language. Take Romans 623, 36 00:02:11,889 --> 00:02:15,090 S1: for example. For the wages of sin is death, but 37 00:02:15,090 --> 00:02:17,730 S1: the free gift of God is eternal life in Christ 38 00:02:17,730 --> 00:02:22,130 S1: Jesus our Lord. Or Mark 1045 where Jesus says, for 39 00:02:22,130 --> 00:02:24,730 S1: even the Son of Man did not come to be served, 40 00:02:24,730 --> 00:02:27,410 S1: but to serve, and to give his life as a 41 00:02:27,410 --> 00:02:31,929 S1: ransom for many. And first Corinthians 620 reminds us, you 42 00:02:31,970 --> 00:02:35,370 S1: are bought with a price. So glorify God in your body. 43 00:02:35,690 --> 00:02:39,570 S1: These verses speak of something far deeper than finances. They 44 00:02:39,570 --> 00:02:43,090 S1: describe the cost of sin and the beauty of God's grace. 45 00:02:43,410 --> 00:02:46,690 S1: Our sin didn't just lead to guilt. It separated us 46 00:02:46,690 --> 00:02:49,730 S1: from the very presence of God, cutting us off from 47 00:02:49,730 --> 00:02:52,290 S1: the one who is the source of life and love. 48 00:02:52,490 --> 00:02:56,010 S1: Left to ourselves, we had no way to bridge that gap. 49 00:02:56,370 --> 00:03:00,200 S1: But Jesus came to restore what was broken as Jesus 50 00:03:00,200 --> 00:03:03,280 S1: breathed his last on the cross. The Gospel of John 51 00:03:03,280 --> 00:03:07,680 S1: records him saying, it is finished. In the original Greek, 52 00:03:07,720 --> 00:03:11,919 S1: the word is tetelestai. In ancient times, this saying was 53 00:03:11,919 --> 00:03:15,000 S1: packed with meaning. It was spoken by servants who had 54 00:03:15,000 --> 00:03:18,880 S1: completed their assigned tasks. It was used in legal documents 55 00:03:18,880 --> 00:03:21,760 S1: to verify that the requirements of the law were met. 56 00:03:21,800 --> 00:03:26,079 S1: But most significantly, archaeologists have found this word written on 57 00:03:26,080 --> 00:03:30,160 S1: ancient tax receipts and business documents to indicate that a 58 00:03:30,160 --> 00:03:35,360 S1: debt had been fully paid. No remaining balance, nothing left owed. 59 00:03:35,480 --> 00:03:39,000 S1: So when Jesus declared it is finished from the cross, 60 00:03:39,000 --> 00:03:42,119 S1: he wasn't simply marking the end of his mortal life. 61 00:03:42,240 --> 00:03:45,920 S1: He was proclaiming the completion of his atoning work. The 62 00:03:45,920 --> 00:03:49,280 S1: price of our redemption was paid. The debt of sin 63 00:03:49,280 --> 00:03:53,280 S1: was cancelled. The great chasm between God and humanity was 64 00:03:53,280 --> 00:03:57,100 S1: bridged not by our effort, but by his sacrifice. And 65 00:03:57,100 --> 00:04:00,260 S1: here's the beauty of Jesus final words. They remind us 66 00:04:00,260 --> 00:04:03,380 S1: that we don't live in a state of spiritual deficit. 67 00:04:03,420 --> 00:04:07,100 S1: We live in the overflow of grace. Jesus didn't make 68 00:04:07,100 --> 00:04:10,220 S1: a partial payment on our debt. He paid it in full. 69 00:04:10,420 --> 00:04:13,580 S1: We don't have to strive to earn God's favor. No 70 00:04:13,580 --> 00:04:16,580 S1: good work can add to what he has finished. We 71 00:04:16,620 --> 00:04:19,380 S1: simply receive it by faith and live in the freedom 72 00:04:19,380 --> 00:04:23,020 S1: it brings. So on this Good Friday, as we reflect 73 00:04:23,020 --> 00:04:26,620 S1: on the cross, we're invited to hear those final words 74 00:04:26,620 --> 00:04:32,620 S1: of Jesus Tetelestai. With awe and gratitude, it is finished. 75 00:04:32,860 --> 00:04:36,740 S1: The debt of sin has been paid in full, completely, forever. 76 00:04:36,779 --> 00:04:40,100 S1: There is nothing for us to earn, prove, or repay 77 00:04:40,380 --> 00:04:44,660 S1: and that changes everything. We are free. Free from guilt. 78 00:04:44,660 --> 00:04:47,700 S1: Free from striving. Free to live for the one who 79 00:04:47,700 --> 00:04:52,980 S1: gave everything for us. Obedience isn't a transaction to purchase favor, 80 00:04:52,980 --> 00:04:56,690 S1: but a joyful Response to his grace in light of 81 00:04:56,690 --> 00:05:00,570 S1: the finished work of Christ, we now live to follow him, 82 00:05:00,570 --> 00:05:03,969 S1: not to gain life, but because in him we've already 83 00:05:03,970 --> 00:05:06,490 S1: found it. All right, we're gonna head to a break, 84 00:05:06,490 --> 00:05:09,130 S1: so don't go anywhere. Still a lot more to come. 85 00:05:09,130 --> 00:05:11,570 S1: Even though we're away from the studio today and you 86 00:05:11,570 --> 00:05:14,250 S1: shouldn't call in. We have some great questions that you're 87 00:05:14,250 --> 00:05:16,849 S1: really going to enjoy. As we continue to apply God's 88 00:05:16,850 --> 00:05:36,729 S1: wisdom to your financial decisions. We'll be right back. I'm 89 00:05:36,730 --> 00:05:38,650 S1: so glad to have you with us today on Faith 90 00:05:38,650 --> 00:05:42,530 S1: and finance live here on Moody Radio. I'm Rob West. Hey, 91 00:05:42,570 --> 00:05:45,089 S1: our team is away from the studio today, so don't 92 00:05:45,089 --> 00:05:49,010 S1: call in. We did line up though. Some great questions 93 00:05:49,010 --> 00:05:52,570 S1: and we'll get to those just around the corner. But 94 00:05:52,610 --> 00:05:55,719 S1: you know here at Moody Radio, everything is about, first 95 00:05:55,720 --> 00:05:58,839 S1: of all, the gospel. And then beyond that, helping you 96 00:05:58,839 --> 00:06:03,560 S1: live as wise stewards, engaging the culture, living out a 97 00:06:03,560 --> 00:06:07,120 S1: biblical worldview in every facet of your lives, whether it's 98 00:06:07,120 --> 00:06:10,480 S1: your walk with Jesus personally in your marriage, as you 99 00:06:10,480 --> 00:06:13,599 S1: raise your children, and yes, as you manage God's money. 100 00:06:13,600 --> 00:06:15,480 S1: And that's our heart on this program, each day is 101 00:06:15,480 --> 00:06:18,719 S1: just to walk alongside you in that journey. We know 102 00:06:18,720 --> 00:06:20,720 S1: it's a high calling from the Lord, and we want 103 00:06:20,760 --> 00:06:23,480 S1: to help you be found faithful. Whatever you're thinking about 104 00:06:23,480 --> 00:06:26,000 S1: will help you think about it in light of biblical 105 00:06:26,000 --> 00:06:29,560 S1: wisdom and make a confident decision, Lord willing, so you 106 00:06:29,560 --> 00:06:32,240 S1: can move forward and live as that faithful steward that 107 00:06:32,240 --> 00:06:33,800 S1: I know you want to be. And that's our goal 108 00:06:33,800 --> 00:06:36,719 S1: here on this program. Each day is just just to 109 00:06:36,720 --> 00:06:39,440 S1: be an encouragement to you, to come alongside you, cheer 110 00:06:39,440 --> 00:06:42,640 S1: you on, point you back to God's Word, remind you 111 00:06:42,640 --> 00:06:44,600 S1: of the role of money in our lives, a good 112 00:06:44,600 --> 00:06:48,000 S1: gift so long as it doesn't compete with our affections 113 00:06:48,000 --> 00:06:51,000 S1: for the Lord. But what a powerful tool it is 114 00:06:51,000 --> 00:06:55,380 S1: to advance the kingdom, to invest strategically and wisely. To give. 115 00:06:55,420 --> 00:06:58,540 S1: To provide even to enjoy. We see that clearly in 116 00:06:58,540 --> 00:07:00,940 S1: God's Word. That that's part of why he gives us 117 00:07:00,940 --> 00:07:03,940 S1: all of his creation is for our enjoyment. But we 118 00:07:03,940 --> 00:07:06,780 S1: also live in a fallen world and the creation can 119 00:07:06,779 --> 00:07:09,980 S1: become something we worship. That's not the the place that 120 00:07:09,980 --> 00:07:14,740 S1: it was intended to be. It can't provide security or significance. 121 00:07:14,860 --> 00:07:17,500 S1: It can't allow us to be in control because ultimately 122 00:07:17,500 --> 00:07:19,780 S1: those things belong to God. But if we use it 123 00:07:19,780 --> 00:07:23,900 S1: as a tool, holding it open and an open posture, 124 00:07:24,100 --> 00:07:26,900 S1: giving it back to the Lord, using it for his glory. Wow, 125 00:07:26,900 --> 00:07:30,340 S1: what an amazing resource money is to be able to 126 00:07:30,340 --> 00:07:32,540 S1: do all kinds of good. We want to help you 127 00:07:32,540 --> 00:07:35,100 S1: do that each day as we kind of reframe the 128 00:07:35,100 --> 00:07:38,060 S1: purpose of money for you and at the same time 129 00:07:38,100 --> 00:07:41,540 S1: address your very specific question. So let's dive in. We'll 130 00:07:41,580 --> 00:07:43,580 S1: begin today in Chicago. Connie. Go ahead. 131 00:07:44,420 --> 00:07:47,340 S2: Thank you for taking my call. Of course, I was 132 00:07:47,380 --> 00:07:53,410 S2: diagnosed with ovarian cancer December 24th, and I began treatment. 133 00:07:53,610 --> 00:07:57,050 S2: And so because of the treatment, I got terminated from 134 00:07:57,050 --> 00:08:00,050 S2: my job because I wasn't ready to come back to work. 135 00:08:00,450 --> 00:08:03,850 S2: And so I found yeah. Thank you. And I found 136 00:08:03,850 --> 00:08:07,410 S2: out I have a 403 B fund that they said 137 00:08:07,410 --> 00:08:11,650 S2: I could withdraw without penalty because I'm 55 and older. 138 00:08:12,090 --> 00:08:15,010 S2: And I was just wondering your thoughts about maybe taking 139 00:08:15,010 --> 00:08:17,690 S2: those funds out to do some home renovation, because I 140 00:08:17,690 --> 00:08:21,170 S2: do have an elderly mom who needs a walk in shower, 141 00:08:21,650 --> 00:08:25,090 S2: which I didn't have the funds for. So I just 142 00:08:25,090 --> 00:08:28,090 S2: went back to work part time at a new company, 143 00:08:28,130 --> 00:08:30,010 S2: and it's only been about a month, so I don't 144 00:08:30,010 --> 00:08:33,250 S2: have any benefits with them. I don't have any four 145 00:08:33,250 --> 00:08:36,570 S2: 1 or 4 three offered at this time too. So 146 00:08:36,690 --> 00:08:38,890 S2: I just wanted to get your thoughts. Thank you. 147 00:08:38,929 --> 00:08:40,650 S1: Yeah. I'd be happy to weigh in on this. And 148 00:08:40,650 --> 00:08:43,290 S1: I'm so sorry to hear about your situation. We're going 149 00:08:43,330 --> 00:08:44,690 S1: to pray, and I'm going to ask the faith and 150 00:08:44,690 --> 00:08:47,850 S1: finance community to be praying for you and your, uh, 151 00:08:47,850 --> 00:08:50,880 S1: your full and complete healing will trust the Lord. The 152 00:08:51,400 --> 00:08:55,240 S1: who is the the Great Physician? To that end, and 153 00:08:55,280 --> 00:08:58,320 S1: I'm glad you're thinking about the path forward as you 154 00:08:58,320 --> 00:09:00,720 S1: use these resources. And I love that you want to 155 00:09:00,720 --> 00:09:03,760 S1: care for your mom in the midst of all this. Um, 156 00:09:03,760 --> 00:09:06,000 S1: so you've gone back to work and you're in a 157 00:09:06,000 --> 00:09:08,160 S1: position where you should be able to continue to work 158 00:09:08,160 --> 00:09:10,199 S1: full time moving forward. Is that right? 159 00:09:10,720 --> 00:09:13,199 S2: You know, I'm actually struggling to even work part time 160 00:09:13,200 --> 00:09:17,000 S2: right now because I'm still in treatment, but I need 161 00:09:17,000 --> 00:09:20,439 S2: money to pay for living expenses. 162 00:09:20,440 --> 00:09:21,600 S1: So yes, no, I. 163 00:09:21,640 --> 00:09:23,800 S2: Get it that I can work these hours. 164 00:09:24,040 --> 00:09:25,959 S1: What do you have in that 401 K? 165 00:09:26,600 --> 00:09:31,720 S2: So 403 BO43B it's about $57,000. 166 00:09:31,800 --> 00:09:33,640 S1: Okay. And if you don't mind me asking, what is 167 00:09:33,640 --> 00:09:34,040 S1: your age? 168 00:09:34,080 --> 00:09:36,080 S2: Connie 57. 169 00:09:36,240 --> 00:09:40,080 S1: Okay. And with your part time work, are you able 170 00:09:40,080 --> 00:09:42,440 S1: to cover your expenses in full, or are you going 171 00:09:42,440 --> 00:09:45,080 S1: to need to supplement that with the 403 B? 172 00:09:45,920 --> 00:09:49,260 S2: Um, you know, I have medical bills right now outstanding. 173 00:09:49,260 --> 00:09:53,020 S2: But I've had, you know, financial payments each month. So 174 00:09:53,020 --> 00:09:55,980 S2: that's what I'm going to continue to do. Right now, 175 00:09:56,020 --> 00:09:59,260 S2: the the money that I make, it just barely covers 176 00:09:59,300 --> 00:10:02,460 S2: the utilities and just all the things for the home. 177 00:10:02,820 --> 00:10:05,420 S1: Okay. And then do you have any other assets? Do 178 00:10:05,420 --> 00:10:08,500 S1: you have an emergency fund, any savings or other investments? 179 00:10:08,540 --> 00:10:11,420 S2: I, I do have some savings and I do have 180 00:10:11,460 --> 00:10:13,700 S2: a CD. So that's kind of what I've been dipping 181 00:10:13,700 --> 00:10:16,020 S2: into when I needed some extra funds. 182 00:10:16,059 --> 00:10:16,540 S1: Got it. 183 00:10:16,620 --> 00:10:20,940 S2: Because my disability ended and I was getting about 3000 184 00:10:20,980 --> 00:10:23,500 S2: a month in disability and going back to work, I'll 185 00:10:23,500 --> 00:10:25,740 S2: be making less than that. So. 186 00:10:25,780 --> 00:10:28,260 S1: Okay. And what do you have set aside in the 187 00:10:28,260 --> 00:10:30,059 S1: emergency savings plus the CD? 188 00:10:31,100 --> 00:10:33,100 S2: I have about 40,000. 189 00:10:33,140 --> 00:10:34,260 S1: Okay. All right. 190 00:10:34,300 --> 00:10:37,140 S2: And I'm using those kind of funds for my mom too, 191 00:10:37,179 --> 00:10:39,140 S2: just for care as well. 192 00:10:39,500 --> 00:10:42,500 S1: Yeah. And what in a typical month are you finding 193 00:10:42,500 --> 00:10:46,620 S1: that you need consistently an extra two, three, four, $500 194 00:10:46,620 --> 00:10:49,050 S1: or is it just kind of when something unexpected comes, 195 00:10:49,050 --> 00:10:50,170 S1: you need to supplement. 196 00:10:51,330 --> 00:10:54,850 S2: You know, I've just been kind of because of my health, 197 00:10:54,890 --> 00:10:57,770 S2: I've been limited. So I'm not doing as much. Um, 198 00:10:57,770 --> 00:11:01,730 S2: I'm not going out because I can't eat. Anyway, um, 199 00:11:01,730 --> 00:11:04,010 S2: I had to recently dip into the funds to pay 200 00:11:04,050 --> 00:11:06,730 S2: the property tax on the house. Yeah. 201 00:11:07,330 --> 00:11:09,530 S1: Okay. So that's not a part of an escrow in 202 00:11:09,530 --> 00:11:10,650 S1: your mortgage payment. 203 00:11:10,690 --> 00:11:13,610 S2: No, no, I mean, it's the house is paid off, so. 204 00:11:13,650 --> 00:11:15,690 S3: Oh, I see. Got it. Yeah. That's great. 205 00:11:15,690 --> 00:11:17,850 S2: I don't have a mortgage to pay. It's just the 206 00:11:17,850 --> 00:11:20,770 S2: I have the utilities for the house and just, you know, 207 00:11:20,809 --> 00:11:24,850 S2: things and for my medical expenses as well. Okay. So again, 208 00:11:24,890 --> 00:11:27,449 S2: I'm very limited. I'm not doing I'm not using a 209 00:11:27,450 --> 00:11:29,170 S2: lot of funds anymore due to. 210 00:11:29,650 --> 00:11:32,050 S1: Well, I'm so appreciate what you're doing here. Just to 211 00:11:32,090 --> 00:11:35,130 S1: live modestly and try to rein in spending to live 212 00:11:35,130 --> 00:11:38,689 S1: within your means. And I realize that's challenging now. Lord willing, 213 00:11:38,690 --> 00:11:41,050 S1: you get beyond the other side of this treatment. You've 214 00:11:41,050 --> 00:11:44,130 S1: got more strength, and maybe you can add some hours 215 00:11:44,130 --> 00:11:46,470 S1: and get back into a situation where you're not only 216 00:11:46,470 --> 00:11:50,110 S1: not dipping in, but maybe adding to. You know, these 217 00:11:50,510 --> 00:11:53,310 S1: these investments over time so that, you know, when you 218 00:11:53,309 --> 00:11:55,430 S1: get to a place where you fully retire, you've got 219 00:11:55,429 --> 00:11:57,870 S1: Social Security, but you've also got a bit of a 220 00:11:57,870 --> 00:12:01,150 S1: nest egg here. You know, even beyond what you have now, um, 221 00:12:01,150 --> 00:12:05,390 S1: what would be the total project cost for this renovation 222 00:12:05,390 --> 00:12:06,710 S1: related to your mom's care? 223 00:12:08,270 --> 00:12:10,550 S2: I don't have an estimate, but I think I'm looking 224 00:12:10,550 --> 00:12:12,470 S2: at somewhere like a 10,000. 225 00:12:12,790 --> 00:12:13,910 S3: Okay. All right. 226 00:12:14,270 --> 00:12:15,830 S2: To a walk in shower for her? 227 00:12:16,030 --> 00:12:16,350 S3: Yeah. 228 00:12:16,390 --> 00:12:19,750 S1: I mean, obviously, given your situation. I'd prefer we leave 229 00:12:19,750 --> 00:12:22,630 S1: that for one K or 403 B alone. But I 230 00:12:22,670 --> 00:12:25,190 S1: also realize you've got to do what you've got to do. 231 00:12:25,230 --> 00:12:28,350 S1: You're right. You do have this option where with the 232 00:12:28,350 --> 00:12:31,429 S1: rule of 55, if you leave your job in the 233 00:12:31,429 --> 00:12:35,230 S1: year you turn 55 or later, then you can take 234 00:12:35,230 --> 00:12:39,229 S1: withdrawals from your employer's 401 K without that 10% penalty. 235 00:12:39,270 --> 00:12:43,110 S1: And it really doesn't matter why you separate whether you 236 00:12:43,110 --> 00:12:46,380 S1: are laid off or early retirement, or you just quit 237 00:12:46,740 --> 00:12:51,020 S1: all qualify. Um, you know, and you don't actually have 238 00:12:51,020 --> 00:12:54,540 S1: to be 55 yet. Just turning 55 sometime in that 239 00:12:54,540 --> 00:12:58,060 S1: calendar year would allow you to take advantage of this. Now. 240 00:12:58,100 --> 00:13:00,900 S1: Keep in mind, uh, you know, it would still all 241 00:13:00,900 --> 00:13:03,220 S1: be taxable, so you wouldn't want that to catch you 242 00:13:03,220 --> 00:13:07,260 S1: by surprise. And, you know, make sure that, um, you know, 243 00:13:07,300 --> 00:13:10,100 S1: you have set that aside so that you've got that 244 00:13:10,100 --> 00:13:13,540 S1: to pay the taxes, whatever that would be. Keep in mind, 245 00:13:13,580 --> 00:13:15,579 S1: it's got to be the four, three B from the 246 00:13:15,580 --> 00:13:19,339 S1: employer that you separated from, not an old 403 B 247 00:13:19,340 --> 00:13:20,940 S1: but as long as it is, you would be able 248 00:13:20,940 --> 00:13:23,740 S1: to take it out. Miss that 10% penalty, which you 249 00:13:23,740 --> 00:13:28,860 S1: know would be $1,000 on a $10,000 withdrawal. So that's significant. Um, 250 00:13:28,860 --> 00:13:31,540 S1: but it but it would be taxable. I'd love to 251 00:13:31,540 --> 00:13:34,380 S1: do this for you, Connie. Um, we'll connect you if 252 00:13:34,420 --> 00:13:38,340 S1: you're interested with a certified Christian financial counselor. Uh, we've 253 00:13:38,340 --> 00:13:41,140 S1: got a team of cert cfc's. These are men and 254 00:13:41,140 --> 00:13:44,290 S1: women who've been trained to help with budgets and spending plans. 255 00:13:44,290 --> 00:13:46,490 S1: And they love Jesus and they just want to help 256 00:13:46,490 --> 00:13:50,530 S1: God's people be faithful stewards. And we'll cover the cost 257 00:13:50,530 --> 00:13:52,730 S1: of it just as our gift to you. And if 258 00:13:52,730 --> 00:13:55,209 S1: you're interested, this person would meet with you by phone 259 00:13:55,210 --> 00:13:57,439 S1: or maybe a Zoom call. You know, two or 3 260 00:13:57,440 --> 00:13:59,970 S1: or 4 times just to look over your situation, help 261 00:13:59,970 --> 00:14:02,930 S1: you get a spending plan, maybe give you any ideas 262 00:14:02,929 --> 00:14:05,170 S1: you've been missing on kind of how to put all 263 00:14:05,170 --> 00:14:08,689 S1: this together. And just having that sounding board might be 264 00:14:08,690 --> 00:14:11,329 S1: helpful to you. So if you're interested in that, you 265 00:14:11,330 --> 00:14:13,370 S1: stay on the line and we'll get your information and 266 00:14:13,370 --> 00:14:15,570 S1: get somebody in touch with you. And again, it won't 267 00:14:15,570 --> 00:14:18,370 S1: cost you anything. Connie, we appreciate you being on the 268 00:14:18,370 --> 00:14:21,130 S1: program today. We'll be praying for you. And, um, if 269 00:14:21,130 --> 00:14:23,770 S1: I can help further, don't hesitate to call back, folks. 270 00:14:23,770 --> 00:14:25,730 S1: We'll take a quick break. Uh, back with a lot 271 00:14:25,730 --> 00:14:28,330 S1: more great questions right after this on faith and finance. 272 00:14:28,330 --> 00:14:38,330 S1: Stick around. So glad to have you with us today 273 00:14:38,330 --> 00:14:41,830 S1: on faith and Finance Live. Our team is away today, 274 00:14:41,830 --> 00:14:44,430 S1: so don't call in. But we lined up some great 275 00:14:44,430 --> 00:14:46,630 S1: questions in advance and we'll be going to those here 276 00:14:46,630 --> 00:14:49,270 S1: in just a moment. Let me also remind you that 277 00:14:49,270 --> 00:14:51,870 S1: the advice that I give each day on this program 278 00:14:51,870 --> 00:14:56,790 S1: is general in nature. We offer principles and ideas that 279 00:14:56,790 --> 00:15:00,190 S1: apply at a high level. They are not personalized. So 280 00:15:00,270 --> 00:15:03,990 S1: that's why you should always seek professional financial advice. And 281 00:15:04,070 --> 00:15:07,230 S1: if you'd like to find a professional who shares your values, 282 00:15:07,230 --> 00:15:10,030 S1: we of course here at Faith and Finance Live recommend 283 00:15:10,030 --> 00:15:13,550 S1: the Certified Kingdom Advisor designation. These are men and women 284 00:15:13,550 --> 00:15:16,710 S1: who've met high standards, and they've been trained to bring 285 00:15:16,710 --> 00:15:19,550 S1: a biblical worldview of financial decision making. You can find 286 00:15:19,550 --> 00:15:23,750 S1: one at faith fi.com. Let's head to Oklahoma and welcome 287 00:15:23,790 --> 00:15:25,270 S1: Ted to the broadcast. Go ahead. 288 00:15:25,870 --> 00:15:29,030 S4: Thank you for taking my call. I have a question. 289 00:15:29,070 --> 00:15:32,510 S4: I'm my wife and I are both 70, both retired 290 00:15:32,510 --> 00:15:40,540 S4: school teachers. Um, I'm retired military, uh, through Army Reserve, Um, 291 00:15:40,900 --> 00:15:45,060 S4: through the years, we've invested a lot into agriculture, farm, 292 00:15:45,100 --> 00:15:49,140 S4: farm property and that sort of thing. My question is, uh, 293 00:15:49,220 --> 00:15:53,780 S4: we still have a desire to invest, but at age 294 00:15:53,780 --> 00:15:57,780 S4: 70 and all of our retirement is, is not tied 295 00:15:57,780 --> 00:16:02,220 S4: into the stock market. It's tied into a fixed retirement system. 296 00:16:02,540 --> 00:16:04,220 S4: What advice would you give on that? 297 00:16:04,660 --> 00:16:05,140 S3: Yeah. 298 00:16:05,580 --> 00:16:09,300 S1: It's a great question. And I love the idea of diversification. 299 00:16:09,300 --> 00:16:11,860 S1: So as you think about kind of what your sources 300 00:16:11,860 --> 00:16:15,420 S1: of income are in the future, uh, the good news 301 00:16:15,460 --> 00:16:19,020 S1: is that, you know, as retired teachers plus a military retirement, 302 00:16:19,020 --> 00:16:22,900 S1: that likely means steady, reliable income, which could give you 303 00:16:22,900 --> 00:16:26,460 S1: some flexibility in how you'd invest. But let me walk 304 00:16:26,460 --> 00:16:29,340 S1: through each piece of this. And I think first step 305 00:16:29,340 --> 00:16:33,660 S1: is to really talk about your foundation, if you will. Um, 306 00:16:33,660 --> 00:16:37,100 S1: so before investing anything new, let me just ask, are 307 00:16:37,100 --> 00:16:40,800 S1: your pensions covering your living expenses. 308 00:16:42,320 --> 00:16:43,360 S4: Well and beyond. 309 00:16:43,600 --> 00:16:44,080 S3: Okay. 310 00:16:44,320 --> 00:16:46,720 S1: And are you drawing Social Security? 311 00:16:47,960 --> 00:16:49,240 S4: We are. Yes. 312 00:16:49,320 --> 00:16:52,040 S1: Okay. And do you already have an emergency fund of 313 00:16:52,040 --> 00:16:53,320 S1: 6 to 12 months? 314 00:16:53,960 --> 00:16:54,520 S4: Yes. 315 00:16:54,800 --> 00:16:56,440 S1: Okay, great. And no debt. 316 00:16:57,440 --> 00:17:00,880 S4: Um, credit card. But we pay that off each month. 317 00:17:00,920 --> 00:17:01,840 S1: Got it. Okay. 318 00:17:01,880 --> 00:17:02,760 S3: So and so. 319 00:17:03,000 --> 00:17:04,439 S4: Actually, no. No debt. 320 00:17:04,480 --> 00:17:08,879 S1: Yeah. Excellent. So that's great because that means then investing 321 00:17:08,880 --> 00:17:16,320 S1: can become about growth, inflation protection legacy and extra lifestyle flexibility. 322 00:17:16,359 --> 00:17:19,000 S1: I think it's important though for you to define if 323 00:17:19,000 --> 00:17:22,080 S1: you haven't already, how much is enough with regard to 324 00:17:22,080 --> 00:17:25,760 S1: your lifestyle. And you may have already had that, you know, 325 00:17:26,040 --> 00:17:30,080 S1: discussion and prayerful consideration. But once you define enough for 326 00:17:30,080 --> 00:17:33,560 S1: your lifestyle, then it's really not that hard to say, okay, 327 00:17:33,720 --> 00:17:37,679 S1: how much would we need beyond what we're currently bringing 328 00:17:37,790 --> 00:17:42,150 S1: in in terms of guaranteed income to support that lifestyle 329 00:17:42,150 --> 00:17:44,670 S1: now and into the future, given some of the unknowns, 330 00:17:44,670 --> 00:17:49,310 S1: which would largely be medically related. And once you define 331 00:17:49,310 --> 00:17:51,830 S1: enough not only for your lifestyle, but then for your 332 00:17:51,830 --> 00:17:55,950 S1: ultimate accumulation, now you're freed up to begin to give 333 00:17:56,230 --> 00:17:59,150 S1: even more than you already are. Because you know what 334 00:17:59,150 --> 00:18:02,350 S1: your finish line is. Um, let's talk about where the 335 00:18:02,350 --> 00:18:05,389 S1: money is right now. So the money beyond, you know, 336 00:18:05,430 --> 00:18:07,990 S1: what you're just bringing in on a guaranteed basis each 337 00:18:07,990 --> 00:18:11,430 S1: month that you have right now is that largely, you know, 338 00:18:11,470 --> 00:18:13,390 S1: sitting in a bank account. Do you have a thrift 339 00:18:13,390 --> 00:18:17,270 S1: savings plan? Do you have, you know, CDs or brokerage accounts? 340 00:18:17,270 --> 00:18:20,550 S1: What do you have currently currently? 341 00:18:20,590 --> 00:18:24,310 S4: Of course, while we were still actively working, we contributed 342 00:18:24,310 --> 00:18:30,070 S4: to a 403 B 457 B and so we have 343 00:18:30,510 --> 00:18:33,910 S4: quite a bit of money tied up in that, which 344 00:18:33,910 --> 00:18:38,020 S4: has a fixed rate income on it. And then we 345 00:18:38,060 --> 00:18:44,580 S4: do also have a CDs at our local bank. Okay. 346 00:18:45,140 --> 00:18:49,700 S4: And because we're agriculture related, you know, we, we're still 347 00:18:50,260 --> 00:18:54,100 S4: income generating, I guess, because we're in the cattle business. 348 00:18:54,220 --> 00:18:56,939 S4: So we're, we're very blessed. Yeah. 349 00:18:57,859 --> 00:18:58,380 S3: I love. 350 00:18:58,380 --> 00:19:01,379 S1: That. And so as you think about investing, are you 351 00:19:01,380 --> 00:19:06,100 S1: thinking about maybe changing the investment strategy with the 43B 352 00:19:06,140 --> 00:19:09,500 S1: or 457? Or are you talking about leaving that on 353 00:19:09,500 --> 00:19:12,540 S1: a fixed rate and just putting the surplus you have 354 00:19:12,580 --> 00:19:14,820 S1: on a monthly basis to work, or both? 355 00:19:15,780 --> 00:19:21,340 S4: At some point, whenever the required distribution is required, perhaps 356 00:19:21,340 --> 00:19:26,580 S4: rolling that over into a different type of investment. Yeah, 357 00:19:26,619 --> 00:19:28,780 S4: but mainly the excess right now. 358 00:19:29,020 --> 00:19:30,060 S3: Got it. Okay. 359 00:19:30,340 --> 00:19:32,740 S1: Yeah. So one thought on that is at any point 360 00:19:32,740 --> 00:19:36,040 S1: you could roll the 403 B and 457 as long 361 00:19:36,040 --> 00:19:40,320 S1: as you've separated from service to an IRA, which at 362 00:19:40,320 --> 00:19:43,440 S1: 70.5 gives you the option. And I realize, you know, 363 00:19:43,480 --> 00:19:46,040 S1: you're you're both there. That gives you the option to 364 00:19:46,040 --> 00:19:50,080 S1: do what are called qualified charitable distributions. So that as 365 00:19:50,080 --> 00:19:54,439 S1: you begin at 73 to require to have required minimums. 366 00:19:54,640 --> 00:19:57,000 S1: And you could start that even now if you wanted to. 367 00:19:57,280 --> 00:20:01,879 S1: You're able to satisfy those required minimums by giving direct 368 00:20:01,880 --> 00:20:07,040 S1: to 500 and 1C3 charities from your IRA. And that 369 00:20:07,040 --> 00:20:09,960 S1: is never added to your taxable income. It's the only 370 00:20:09,960 --> 00:20:12,680 S1: way to get that money out of these 403 B's 371 00:20:12,680 --> 00:20:16,600 S1: and 457 without ever paying any tax, because you got 372 00:20:16,600 --> 00:20:18,560 S1: the deduction when it went in. And if it goes 373 00:20:18,560 --> 00:20:22,119 S1: straight to charity coming out through a qualified charitable distribution, 374 00:20:22,119 --> 00:20:25,600 S1: you never pay any tax. And again starting at 73, 375 00:20:25,960 --> 00:20:28,840 S1: any money that's uh, you know, comes out by way 376 00:20:28,840 --> 00:20:31,720 S1: of a qualified charitable distribution would also count toward your 377 00:20:31,720 --> 00:20:34,629 S1: required minimum. So just keep that in mind. That's a 378 00:20:34,630 --> 00:20:38,190 S1: phenomenal strategy with regard to the surplus you have now. 379 00:20:38,470 --> 00:20:42,389 S1: You know, I think just getting this working for you, um, 380 00:20:42,670 --> 00:20:46,470 S1: you know, in maybe a 50 over 50 type split. 381 00:20:46,590 --> 00:20:49,750 S1: I mean, normally at age 70, you know, we would 382 00:20:49,750 --> 00:20:54,230 S1: think maybe a 40 in stocks, 60 in bonds, you 383 00:20:54,230 --> 00:20:56,190 S1: would have the ability to do something a little more 384 00:20:56,190 --> 00:21:00,350 S1: aggressive because, you know, you've got your base covered, if 385 00:21:00,350 --> 00:21:02,830 S1: you will, and you have, you know, so much that 386 00:21:02,830 --> 00:21:06,030 S1: you've already accumulated. And so if you wanted to go 5050, 387 00:21:06,070 --> 00:21:09,110 S1: you could, but the idea would be to get into some, 388 00:21:09,350 --> 00:21:13,110 S1: you know, high quality, broadly diversified mutual funds or exchange 389 00:21:13,109 --> 00:21:16,350 S1: traded funds. And, you know, at a high level, you'd 390 00:21:16,390 --> 00:21:20,429 S1: want somewhere around 40 to 50 in a stock orientation, 391 00:21:20,590 --> 00:21:24,910 S1: somewhere between 50 and 60 and a bond type orientation. 392 00:21:24,910 --> 00:21:27,630 S1: And the idea would be that that would, over time 393 00:21:27,670 --> 00:21:32,390 S1: provide some inflation protection, some growth, and give you the ability, 394 00:21:32,500 --> 00:21:36,500 S1: you know, with appreciation to either hang on to that. 395 00:21:36,540 --> 00:21:39,899 S1: You know, as a blessing to your heirs or again, 396 00:21:39,900 --> 00:21:43,020 S1: as fuel for continued giving. Does that make sense? 397 00:21:43,740 --> 00:21:44,380 S4: It does. 398 00:21:44,820 --> 00:21:45,540 S3: Okay. Okay. 399 00:21:45,940 --> 00:21:46,820 S4: Very helpful. 400 00:21:46,980 --> 00:21:47,980 S1: Alright. Thank you Ted. 401 00:21:48,020 --> 00:21:50,979 S4: Appreciate you very, very much. We'll continue to pray for 402 00:21:50,980 --> 00:21:51,860 S4: your ministry. 403 00:21:52,020 --> 00:21:54,780 S1: Thank you sir. It means a lot. And call anytime. 404 00:21:54,820 --> 00:21:57,420 S1: Much more to come. Just around the corner. Stick around. 405 00:22:08,180 --> 00:22:10,460 S1: I'm so thankful you're joining us today on Faith and 406 00:22:10,460 --> 00:22:13,540 S1: Finance Live. I'm Rob West. Hey, just a quick reminder 407 00:22:13,540 --> 00:22:16,020 S1: our team is away from the studio today, so don't 408 00:22:16,020 --> 00:22:18,380 S1: call in. But in just a few moments we're going 409 00:22:18,460 --> 00:22:20,859 S1: to get back to the phone calls we lined up 410 00:22:20,859 --> 00:22:24,300 S1: in advance that I know you'll find very interesting. But 411 00:22:24,340 --> 00:22:27,260 S1: let me take a moment just to invite you first 412 00:22:27,260 --> 00:22:30,100 S1: to be a supporter of this ministry here at Faith fi. 413 00:22:30,300 --> 00:22:32,920 S1: You know, we bring you this broadcast every day as 414 00:22:32,920 --> 00:22:37,440 S1: a listener supported ministry only because of your generous support. 415 00:22:37,440 --> 00:22:41,600 S1: So maybe you listen regularly, perhaps you count on this program, 416 00:22:41,600 --> 00:22:43,719 S1: maybe you've been able to apply some of the wisdom 417 00:22:43,720 --> 00:22:47,080 S1: from God's Word that you've heard in your financial life, 418 00:22:47,080 --> 00:22:49,760 S1: or it's just help you to be that wise and 419 00:22:49,760 --> 00:22:52,280 S1: faithful steward, and you'd like to be a part of 420 00:22:52,280 --> 00:22:54,640 S1: our team. Well, one way you can do that is 421 00:22:54,640 --> 00:22:57,760 S1: by investing in this work through a one time gift, 422 00:22:57,760 --> 00:23:00,920 S1: or even by becoming a faith life partner. I just 423 00:23:00,920 --> 00:23:04,080 S1: invite you to join us on this journey. When you 424 00:23:04,080 --> 00:23:07,000 S1: head to faith.com and click give, a gift of any 425 00:23:07,000 --> 00:23:10,560 S1: amount would be a big help. Again, that's faith fi.com 426 00:23:10,680 --> 00:23:12,960 S1: and just click give and let me say thank you 427 00:23:12,960 --> 00:23:17,160 S1: in advance. Your gift will make a huge difference. All right, 428 00:23:17,160 --> 00:23:20,040 S1: let's head back to the phones New Hampshire Mike. Go ahead. 429 00:23:20,400 --> 00:23:23,240 S5: Yes, Rob. Thank you for taking my call. Of course, 430 00:23:23,280 --> 00:23:26,280 S5: our church was given a gift of some money from 431 00:23:26,280 --> 00:23:28,800 S5: the sale of a house, and I'm just checking to 432 00:23:28,800 --> 00:23:32,270 S5: see what you would think. We had a financial planner 433 00:23:32,270 --> 00:23:35,070 S5: come in to maybe put this money in some way 434 00:23:35,070 --> 00:23:38,310 S5: to grow. While we're waiting to use the money. And 435 00:23:38,310 --> 00:23:41,709 S5: how much risk does the church take? They had proposed 436 00:23:41,710 --> 00:23:44,909 S5: a moderate risk, which to me seems a little aggressive, 437 00:23:44,950 --> 00:23:48,229 S5: but I'm just looking to see. I know when personal finance. 438 00:23:48,230 --> 00:23:50,550 S5: I'd be willing to go this far. It's just because 439 00:23:50,590 --> 00:23:53,750 S5: it's the church's money. I feel a little more conservative. 440 00:23:53,790 --> 00:23:56,270 S5: And should we just stick with putting it in CDs, 441 00:23:56,270 --> 00:23:58,709 S5: which are safe? Or, you know, I'm just looking for 442 00:23:58,710 --> 00:24:00,109 S5: your opinion on that. 443 00:24:00,150 --> 00:24:02,670 S1: Yeah, it's a great question here, Mike. It's something I've 444 00:24:02,670 --> 00:24:05,510 S1: dealt with numerous times in the past on various church 445 00:24:05,510 --> 00:24:08,790 S1: finance committees and, and elder boards. But, you know, I 446 00:24:08,790 --> 00:24:11,629 S1: think there's really two things that need to be established 447 00:24:12,150 --> 00:24:17,070 S1: by either the finance Committee or the deacons, certainly alongside 448 00:24:17,070 --> 00:24:22,869 S1: the leadership of the church. And that is an investment policy. Uh, 449 00:24:22,869 --> 00:24:25,830 S1: not considering this gift, just kind of at a higher level. 450 00:24:25,830 --> 00:24:28,930 S1: What is our investment policy? And then second, what is 451 00:24:28,930 --> 00:24:33,330 S1: our cash reserve policy? Because it really starts with how 452 00:24:33,330 --> 00:24:36,890 S1: much cash do we want to have on reserve. And 453 00:24:36,890 --> 00:24:40,169 S1: then anything else that comes in, unless it's for a 454 00:24:40,170 --> 00:24:43,450 S1: specific project, like we're, you know, socking money away because 455 00:24:43,450 --> 00:24:45,970 S1: we need a new building or something gets put back 456 00:24:45,970 --> 00:24:49,490 S1: into ministry because that's why it was given to advance 457 00:24:49,490 --> 00:24:52,850 S1: the ministry purposes of the church and the programming. But 458 00:24:52,850 --> 00:24:55,050 S1: apart from that, we do need to have a stated 459 00:24:55,050 --> 00:24:59,850 S1: reserve policy and an investment policy. So on the reserve side, 460 00:24:59,890 --> 00:25:02,689 S1: you know, I think in addition to whatever, if you 461 00:25:02,690 --> 00:25:06,770 S1: have a mortgage on the building, in addition to what 462 00:25:06,810 --> 00:25:12,090 S1: the mortgage covenants would require, you want to have liquid reserves. 463 00:25:12,090 --> 00:25:14,090 S1: And I would say having nothing is too little and 464 00:25:14,090 --> 00:25:16,369 S1: having more than a year is too much. And so 465 00:25:16,530 --> 00:25:20,490 S1: figuring out kind of what your policy is just based 466 00:25:20,490 --> 00:25:22,730 S1: on the overall health of the church, the giving patterns, 467 00:25:22,730 --> 00:25:25,810 S1: the age of the givers, you know, where you're located 468 00:25:25,810 --> 00:25:28,920 S1: in terms of what's going on in that local area. 469 00:25:28,960 --> 00:25:30,680 S1: You know, a lot of times churches will say, yeah, 470 00:25:30,680 --> 00:25:33,000 S1: we want six months worth of expenses or we want 471 00:25:33,000 --> 00:25:35,240 S1: three months, you know, whatever it is, but establish that 472 00:25:35,240 --> 00:25:38,480 S1: policy so that you know what your target is. Anytime 473 00:25:38,480 --> 00:25:42,320 S1: you dip below that, you're budgeting around building that back up. 474 00:25:42,440 --> 00:25:45,800 S1: And then the second piece is an investment policy that 475 00:25:45,800 --> 00:25:49,399 S1: specifically states what you are willing and not willing to 476 00:25:49,440 --> 00:25:51,679 S1: do with anything that comes into the church. I mean, 477 00:25:51,680 --> 00:25:53,760 S1: if you were to get a major gift tomorrow, kind 478 00:25:53,800 --> 00:25:56,639 S1: of like this one that you're talking about, you know, 479 00:25:56,680 --> 00:25:58,159 S1: you don't have to decide what to do with it. 480 00:25:58,160 --> 00:26:01,800 S1: It's already been decided in advance. Um, with regard to 481 00:26:01,800 --> 00:26:04,560 S1: that investment policy, I would align with you. I don't 482 00:26:04,560 --> 00:26:08,399 S1: think there's any reason for a church to take money 483 00:26:08,400 --> 00:26:12,920 S1: that was given by a donor, a congregant, uh, or 484 00:26:12,960 --> 00:26:16,639 S1: someone from the outside for the church purposes. And to 485 00:26:16,680 --> 00:26:19,080 S1: put that at the risk of the market, I just, 486 00:26:19,119 --> 00:26:20,639 S1: you know, I would not be in favor of that 487 00:26:20,640 --> 00:26:22,639 S1: if I was on the committee. I would say we 488 00:26:22,640 --> 00:26:25,800 S1: stay in the category of what is called cash and 489 00:26:25,910 --> 00:26:30,190 S1: cash equivalents. So this would be money market funds, what 490 00:26:30,190 --> 00:26:34,149 S1: are called sweep accounts where they sweep the money into, 491 00:26:34,270 --> 00:26:39,869 S1: you know, high yield, uh, you know, cash like, uh, investments, 492 00:26:39,869 --> 00:26:42,030 S1: but where it can be spread out so that there's 493 00:26:42,030 --> 00:26:46,670 S1: FDIC insurance across all of it, um, short term treasuries, 494 00:26:46,710 --> 00:26:51,350 S1: government money markets, maybe CDs, things like that, where there's, 495 00:26:51,510 --> 00:26:55,630 S1: you know, near daily liquidity, you've got principal stability, but 496 00:26:55,630 --> 00:26:58,830 S1: you're also getting a modest return. It's not designed to 497 00:26:58,910 --> 00:27:01,590 S1: beat inflation, but it is designed to be a good 498 00:27:01,590 --> 00:27:04,230 S1: steward and have something coming in. But we're not putting 499 00:27:04,230 --> 00:27:06,990 S1: it at risk because again, the whole point is if 500 00:27:06,990 --> 00:27:09,830 S1: it's not for reserves and if it is, we need 501 00:27:09,830 --> 00:27:12,270 S1: it liquid. We don't want to have to sell it 502 00:27:12,270 --> 00:27:14,189 S1: to use it when the market's down. What if the 503 00:27:14,190 --> 00:27:17,150 S1: market was down 30%? Uh, we wouldn't want to have 504 00:27:17,150 --> 00:27:19,430 S1: to take a loss on it. And if it's not 505 00:27:19,430 --> 00:27:22,590 S1: for reserves, then let's get it into ministry sooner rather 506 00:27:22,590 --> 00:27:25,370 S1: than later. So I think for all of those reasons, 507 00:27:25,410 --> 00:27:28,130 S1: you know, you need to establish that reserves policy and 508 00:27:28,130 --> 00:27:31,050 S1: the investment policy. And again, I would be in favor 509 00:27:31,050 --> 00:27:35,010 S1: of not including anything that goes beyond cash and cash equivalents. 510 00:27:35,010 --> 00:27:35,970 S1: Does that make sense? 511 00:27:36,010 --> 00:27:36,450 S3: Okay. 512 00:27:36,770 --> 00:27:39,210 S5: Absolutely. Absolutely. Thank you so much. 513 00:27:39,490 --> 00:27:42,290 S1: You're welcome. An article you can reference. Just do an 514 00:27:42,290 --> 00:27:45,450 S1: internet search for it. It's called church cash reserves. How 515 00:27:45,450 --> 00:27:48,810 S1: much is enough? And it's by the Evangelical Council for 516 00:27:48,810 --> 00:27:52,690 S1: Financial Accountability. And I think that may give you a 517 00:27:52,690 --> 00:27:54,489 S1: little bit of a starting point. If you were to 518 00:27:54,530 --> 00:27:57,730 S1: raise this among the church leaders just to say, hey, 519 00:27:57,730 --> 00:28:00,250 S1: can we talk about what our policy is here for 520 00:28:00,250 --> 00:28:03,730 S1: church cash reserves? It doesn't address the investment policy, but 521 00:28:03,730 --> 00:28:06,770 S1: it does address that first part. I hope that's helpful. Mike. 522 00:28:06,770 --> 00:28:09,929 S1: We appreciate your call today, sir. God bless you. You know, folks, 523 00:28:09,970 --> 00:28:14,290 S1: as we think about investing, I'm all about investing in 524 00:28:14,290 --> 00:28:18,130 S1: a way that puts capital to work, especially in God 525 00:28:18,210 --> 00:28:21,290 S1: honoring ways. Keep in mind, when we think about God's 526 00:28:21,290 --> 00:28:25,399 S1: design for economics and God's design for money. And we 527 00:28:25,400 --> 00:28:28,639 S1: know what money is. It's a it's a means of exchange. 528 00:28:28,640 --> 00:28:31,880 S1: It's a it's a good gift from God, but it's 529 00:28:31,880 --> 00:28:34,800 S1: not morally neutral. But when we put it in its 530 00:28:34,800 --> 00:28:38,480 S1: proper place as a tool, I think good stewardship includes 531 00:28:38,480 --> 00:28:42,440 S1: putting it to work. Remember everything that's given, whether it's 532 00:28:42,440 --> 00:28:45,480 S1: given to the church or local hospital or to somebody 533 00:28:45,480 --> 00:28:48,840 S1: on your path in need, starts with business, you know, 534 00:28:48,880 --> 00:28:52,240 S1: that's the engine by which now ultimately it comes from 535 00:28:52,240 --> 00:28:54,800 S1: the Lord. It's he that gives us the power to 536 00:28:54,840 --> 00:28:57,320 S1: to get wealth. We see that in Scripture, but it 537 00:28:57,320 --> 00:29:00,080 S1: flows through business. That's part of God's design. And so 538 00:29:00,080 --> 00:29:04,320 S1: when we put money to work providing capital to businesses 539 00:29:04,560 --> 00:29:07,480 S1: who are providing goods that should be good for people 540 00:29:07,480 --> 00:29:11,320 S1: and services that should serve people, and to the extent 541 00:29:11,320 --> 00:29:13,440 S1: it's harming or maiming people, I think that's where we 542 00:29:13,440 --> 00:29:16,520 S1: need to stay out of those investments. But the extent 543 00:29:16,520 --> 00:29:19,840 S1: to which it's good and it's serving, we put capital 544 00:29:19,840 --> 00:29:24,900 S1: into business and that creates a virtuous cycle of productivity 545 00:29:24,900 --> 00:29:29,900 S1: and production and wealth creation and expansion, and it creates 546 00:29:29,900 --> 00:29:32,980 S1: human flourishing as people are working and as those goods 547 00:29:32,980 --> 00:29:38,180 S1: and services take God's creation, the latent potential of God's creation, 548 00:29:38,340 --> 00:29:41,180 S1: and it improves it, and it orders it and it 549 00:29:41,220 --> 00:29:44,020 S1: causes it to be a blessing. And in part, it 550 00:29:44,020 --> 00:29:48,460 S1: brings about God's redemptive purposes in the world. So I'm 551 00:29:48,460 --> 00:29:52,500 S1: all about investing when it's your capital and when it's mine. 552 00:29:52,500 --> 00:29:54,340 S1: I think it is, though, a little different when we 553 00:29:54,340 --> 00:29:57,740 S1: talk about a church, because again, the reason those funds 554 00:29:57,740 --> 00:30:01,140 S1: are given to the church are to advance God's kingdom. 555 00:30:01,180 --> 00:30:03,700 S1: You know, they have a specific and stated purpose and 556 00:30:03,700 --> 00:30:07,060 S1: the extent to which it's just wise stewardship to keep 557 00:30:07,220 --> 00:30:09,900 S1: keep reserves. Well, we need to have those in cash 558 00:30:09,900 --> 00:30:13,180 S1: and cash equivalents that are safe. They're liquid, they're accessible. 559 00:30:13,460 --> 00:30:16,540 S1: But apart from that, let's get that money into missions. 560 00:30:16,540 --> 00:30:20,060 S1: Let's get it into, uh, you know, programming, let's, you know, 561 00:30:20,100 --> 00:30:24,530 S1: pay our pastors and church staff. You know, we should 562 00:30:24,530 --> 00:30:27,610 S1: take care of them. But all of those things require 563 00:30:27,610 --> 00:30:30,770 S1: that money to be in motion, not to be parked 564 00:30:30,770 --> 00:30:34,090 S1: in investments. And I hope that makes sense to you today. 565 00:30:34,290 --> 00:30:36,970 S1: Thanks for calling. Well, folks, we're going to take one 566 00:30:36,970 --> 00:30:39,850 S1: more quick break and then back with our final segment today. 567 00:30:39,850 --> 00:30:43,810 S1: But if you need assistance from a financial or legal professional, 568 00:30:44,010 --> 00:30:47,490 S1: we'd love for you to visit faith.com and click find 569 00:30:47,530 --> 00:30:51,890 S1: a K. Again, that's faith.com and click find a c 570 00:30:51,890 --> 00:30:56,290 S1: k that stands for Certified Kingdom Advisor. Our preferred designation 571 00:30:56,290 --> 00:30:59,810 S1: for financial advice from a biblical worldview. We're back with 572 00:30:59,810 --> 00:31:02,010 S1: much more just around the corner. Stick around. 573 00:31:13,210 --> 00:31:16,410 S6: This is faith and finance live with Rob West. Hey, 574 00:31:16,410 --> 00:31:19,330 S6: if you hear a phone number mentioned today, please ignore 575 00:31:19,480 --> 00:31:22,800 S6: that number and don't call us because today's broadcast was 576 00:31:22,800 --> 00:31:26,520 S6: previously recorded. But we think the upcoming information will help 577 00:31:26,520 --> 00:31:28,680 S6: you and make you a wise steward of what God 578 00:31:28,680 --> 00:31:31,440 S6: has given you. So please stay tuned. 579 00:31:33,040 --> 00:31:35,080 S1: Let's head to Texas. Paul. Go ahead. 580 00:31:35,480 --> 00:31:40,040 S7: Yes, I've I know exactly how qualified charitable distributions work, 581 00:31:40,040 --> 00:31:42,920 S7: and I've been exercising them through some of my fidelity 582 00:31:43,440 --> 00:31:48,000 S7: IRA accounts. I have, uh, a little bit of a 583 00:31:48,000 --> 00:31:52,280 S7: very arcane question. I know that it comes to ordinary 584 00:31:52,280 --> 00:31:58,600 S7: charitable distributions. There's this little thing called, uh, contemporaneous. And 585 00:31:58,600 --> 00:32:00,760 S7: if you don't have that receipt in your hot little 586 00:32:00,760 --> 00:32:06,440 S7: hand before you file your tax return, the IRS can 587 00:32:06,440 --> 00:32:11,440 S7: consider that documentation invalid. I was wondering, is there the 588 00:32:11,440 --> 00:32:15,840 S7: same kind of rules that might apply to the QCD? 589 00:32:15,920 --> 00:32:19,380 S7: Because I know in general they're not going to audit you, 590 00:32:19,740 --> 00:32:22,940 S7: you know, because you're not deducting anything per se. But 591 00:32:22,940 --> 00:32:25,300 S7: should they challenge it like, hey, wait a minute, you 592 00:32:25,300 --> 00:32:28,740 S7: took 10,000 out of this account and blah, blah, blah, 593 00:32:28,780 --> 00:32:31,180 S7: you need to prove it was a QCD, which in 594 00:32:31,180 --> 00:32:34,940 S7: my case, I think de facto from the day one, 595 00:32:34,940 --> 00:32:40,820 S7: because I'm having fidelity mail the checks to the charitable institution. 596 00:32:40,820 --> 00:32:45,140 S7: So do you have to play the contemporaneous game of 597 00:32:45,140 --> 00:32:48,060 S7: having it in your hand? And what kind of documentation 598 00:32:48,060 --> 00:32:51,460 S7: should you have at your disposal if the IRS questions you? 599 00:32:51,660 --> 00:32:52,980 S3: Yeah, it's a great question. 600 00:32:53,180 --> 00:32:55,860 S1: Um, you know, I mean, when we look at charitable 601 00:32:55,860 --> 00:32:59,420 S1: contributions and this would apply to any gift, charitable gift 602 00:32:59,420 --> 00:33:02,660 S1: of $250 or more, you know, what you generally want 603 00:33:02,660 --> 00:33:05,860 S1: is the charity's legal name, the date of the contribution, 604 00:33:06,060 --> 00:33:09,740 S1: the amount received, and then a statement that no goods 605 00:33:09,740 --> 00:33:13,980 S1: or services were provided in exchange for this gift. Um, 606 00:33:13,980 --> 00:33:16,540 S1: and that can be a letter or it can be, 607 00:33:17,090 --> 00:33:21,410 S1: an official donation receipt. Um, you know. So I think, 608 00:33:21,450 --> 00:33:23,930 S1: you know, those are really the key ideas. And in 609 00:33:23,970 --> 00:33:30,330 S1: terms of contemporaneous written agreement, yes. You know. Absolutely. Um, 610 00:33:30,330 --> 00:33:34,850 S1: and so basically, um, you know, you need to receive it, 611 00:33:34,970 --> 00:33:38,530 S1: that written documentation that I just described by the time 612 00:33:38,530 --> 00:33:43,450 S1: you file your return or the due date, including extensions, um, 613 00:33:43,770 --> 00:33:47,930 S1: it doesn't have to say QCD and the IRA. The 614 00:33:47,930 --> 00:33:51,690 S1: IRA custodian doesn't have to report it as a QCD. 615 00:33:51,730 --> 00:33:54,530 S1: The IRS relies on your records at the end of 616 00:33:54,530 --> 00:33:56,650 S1: the day. Um, so as long as you have that 617 00:33:56,650 --> 00:34:01,330 S1: donation receipt or letter or email acknowledgement, um, and the 618 00:34:01,330 --> 00:34:05,090 S1: written statement that, uh, you know, no goods or services 619 00:34:05,490 --> 00:34:08,250 S1: were provided, then, you know, I think that's really the 620 00:34:08,250 --> 00:34:09,009 S1: key idea. 621 00:34:09,610 --> 00:34:13,569 S7: Okay. Well, thank you. Maybe for the benefit of other listeners, uh, 622 00:34:13,570 --> 00:34:15,410 S7: you might want to tell them what that is because 623 00:34:15,410 --> 00:34:18,390 S7: I was listening to you one day and I go, what? 624 00:34:18,430 --> 00:34:20,149 S7: What are you telling me? You mean now I have 625 00:34:20,150 --> 00:34:21,750 S7: this magic age and I can. 626 00:34:21,750 --> 00:34:22,270 S3: Shovel. 627 00:34:22,750 --> 00:34:25,870 S7: Free money out of the IRA. So anyway, thanks a lot. 628 00:34:25,910 --> 00:34:26,989 S3: Well, I appreciate that. 629 00:34:26,989 --> 00:34:29,069 S1: And I will, Paul, because it's a great point. In fact, 630 00:34:29,070 --> 00:34:30,989 S1: I got a call from a listener the other day 631 00:34:30,989 --> 00:34:33,630 S1: who said and she was literally laughing. I mean, it 632 00:34:33,630 --> 00:34:38,069 S1: was the ultimate picture of that, you know, being a 633 00:34:38,110 --> 00:34:40,310 S1: God loving, a cheerful giver that we read about in 634 00:34:40,310 --> 00:34:43,510 S1: the New Testament in this caller's voice. And she said, Rob, 635 00:34:43,630 --> 00:34:46,710 S1: I'm giving to my church, to the building fund. I'm 636 00:34:46,750 --> 00:34:49,390 S1: giving more than I ever have before. I'm doing it 637 00:34:49,390 --> 00:34:52,270 S1: out of my IRA as a qualified charitable distribution, and 638 00:34:52,270 --> 00:34:56,870 S1: I'm having so much fun. And here's what Paul's talking about. Listen, folks, 639 00:34:56,870 --> 00:34:59,390 S1: when you get money into an IRA, whether you put 640 00:34:59,390 --> 00:35:02,350 S1: it into a 401 K and then rolled it out 641 00:35:02,350 --> 00:35:05,310 S1: or it went straight into a traditional IRA, remember, you 642 00:35:05,350 --> 00:35:07,830 S1: got a tax deduction. So the amount that went into 643 00:35:07,830 --> 00:35:09,950 S1: your 401 K or the amount that you put in 644 00:35:09,989 --> 00:35:14,109 S1: that traditional IRA was excluded from your taxable income in 645 00:35:14,110 --> 00:35:16,580 S1: the year of that contribution. All right. We're on the 646 00:35:16,580 --> 00:35:20,020 S1: same page there. And then it grows tax deferred, meaning 647 00:35:20,020 --> 00:35:24,700 S1: there's an umbrella over it. If the rain is the taxes, 648 00:35:24,739 --> 00:35:27,140 S1: they it hits the umbrella and goes off the side. 649 00:35:27,140 --> 00:35:29,500 S1: It doesn't touch the 401 K or the IRA, which 650 00:35:29,500 --> 00:35:32,460 S1: means the full amount of the money in those accounts, 651 00:35:32,460 --> 00:35:37,739 S1: those pre-tax retirement accounts is growing in the investments that 652 00:35:37,739 --> 00:35:42,540 S1: you select. And then typically when you hit retirement over 59.5, 653 00:35:42,580 --> 00:35:45,540 S1: you roll that 401 K after you separate from your 654 00:35:45,540 --> 00:35:48,299 S1: employer over to an IRA, and then you start withdrawing 655 00:35:48,300 --> 00:35:50,819 S1: it out. And you might take 4% a year and 656 00:35:50,820 --> 00:35:53,700 S1: use it to supplement your Social Security. And every time 657 00:35:53,700 --> 00:35:57,180 S1: you take a withdrawal, the total of all those distributions 658 00:35:57,180 --> 00:35:59,739 S1: for the year get added to your taxable income, and 659 00:35:59,739 --> 00:36:02,900 S1: then you pay tax on it. Well, there's one exception 660 00:36:02,900 --> 00:36:05,540 S1: where you can get that money that, remember, was not 661 00:36:05,540 --> 00:36:08,900 S1: taxed going in. You can get it out without it 662 00:36:08,900 --> 00:36:12,939 S1: ever hitting any kind of tax. In one case, if 663 00:36:12,940 --> 00:36:16,250 S1: it goes straight to charity, doesn't come to you first 664 00:36:16,250 --> 00:36:18,330 S1: and then it's given away, it goes straight from your 665 00:36:18,330 --> 00:36:22,890 S1: IRA to a 500 1C3 charity, which could be your 666 00:36:22,890 --> 00:36:26,610 S1: church or faith fi, or any ministry that's doing the 667 00:36:26,650 --> 00:36:30,890 S1: work of Jesus and, and helping people. And when you 668 00:36:30,890 --> 00:36:35,210 S1: do that, you don't ever pay tax on it. It's incredible. Uh, 669 00:36:35,210 --> 00:36:37,969 S1: and so 100% of that money that comes out of 670 00:36:37,969 --> 00:36:42,129 S1: your IRA going to that charity gets to work and 671 00:36:42,130 --> 00:36:45,410 S1: advance God's kingdom without ever paying any tax on it. 672 00:36:45,450 --> 00:36:48,290 S1: It's amazing. Now, there is one rule. You have to 673 00:36:48,290 --> 00:36:51,890 S1: be 70.5 in order to do this, but if you're 70.5, 674 00:36:51,930 --> 00:36:54,450 S1: you've got money in an IRA. You can send it 675 00:36:54,450 --> 00:36:57,490 S1: straight to a charity. You just call your custodian, whoever 676 00:36:57,489 --> 00:36:59,890 S1: sends you your statements from your IRA and say, I 677 00:36:59,890 --> 00:37:02,969 S1: want to do a qualified charitable distribution. In Paul's case, 678 00:37:02,969 --> 00:37:06,049 S1: that's fidelity. He calls fidelity. They mail a check to 679 00:37:06,090 --> 00:37:09,370 S1: a charity, his church, or whoever else. He never pays 680 00:37:09,370 --> 00:37:12,830 S1: tax on it. And now that money is advancing God's kingdom. 681 00:37:12,830 --> 00:37:15,670 S1: And by the way, this year you can do. I 682 00:37:15,670 --> 00:37:22,870 S1: believe it's, um, up to $106,000, uh, for 2026. I'll 683 00:37:22,870 --> 00:37:26,469 S1: confirm that that's numbers are a little fuzzy for me. 684 00:37:26,590 --> 00:37:31,109 S1: It looks like it's 100, maybe 111,000. We'll double check that, 685 00:37:31,110 --> 00:37:35,549 S1: but over $100,000 is the amount you can send out 686 00:37:35,550 --> 00:37:37,830 S1: of your IRA. And here's the thing, and I'll get 687 00:37:37,870 --> 00:37:41,310 S1: off my soapbox here. But you know, so many people say, Rob, 688 00:37:41,510 --> 00:37:44,910 S1: I'm going to die in many cases with millions in 689 00:37:44,910 --> 00:37:48,550 S1: my 401 K that I never used. And I could 690 00:37:48,550 --> 00:37:50,950 S1: get it to work right now. You remember Ron Blue 691 00:37:50,950 --> 00:37:53,230 S1: said in the book Splitting Heirs. If you've read it, 692 00:37:53,270 --> 00:37:55,310 S1: do your giving while you're living so you're knowing where 693 00:37:55,310 --> 00:37:58,430 S1: it's going. I love that. And, uh, maybe that's you 694 00:37:58,430 --> 00:38:00,910 S1: today with money in your IRA. That could be in 695 00:38:00,910 --> 00:38:05,470 S1: God's kingdom. Now think about using the qualified charitable distribution. 696 00:38:05,469 --> 00:38:07,989 S1: All right. I went on and on there. Let's go 697 00:38:07,989 --> 00:38:10,700 S1: to well, we'll stay in Texas. Alfredo. Go ahead. 698 00:38:11,580 --> 00:38:13,339 S8: Yes, I was just calling to see. I have two 699 00:38:13,380 --> 00:38:17,460 S8: boys that are special needs. Uh, they were working, but 700 00:38:17,460 --> 00:38:21,020 S8: they also have money in their retirement. What can I 701 00:38:21,020 --> 00:38:26,380 S8: do to pull that money out without getting penalized? Uh, 702 00:38:26,380 --> 00:38:27,780 S8: for pulling it out early? 703 00:38:28,020 --> 00:38:28,540 S3: Yeah. 704 00:38:28,860 --> 00:38:35,420 S1: Uh, do they receive SSI, Supplemental Security income or SSDI? 705 00:38:37,460 --> 00:38:41,339 S8: I think one of them received SSDI and SSI. 706 00:38:41,660 --> 00:38:42,620 S3: Okay. Yeah. 707 00:38:43,020 --> 00:38:46,779 S1: Um, so if it's SSDI, the retirement accounts are safe 708 00:38:46,780 --> 00:38:51,700 S1: because it's based on disability status, not wealth. Um, and so, 709 00:38:51,700 --> 00:38:55,259 S1: but with SSI, it is in fact means tested, which 710 00:38:55,260 --> 00:38:59,819 S1: means an individual can generally own more than 2000 and 711 00:38:59,820 --> 00:39:04,380 S1: countable assets. Um, and a retirement account usually counts toward 712 00:39:04,380 --> 00:39:09,570 S1: that limit and could disqualify them from benefits early. Um, 713 00:39:09,570 --> 00:39:13,730 S1: now you can move up to $20,000 a year. That's 714 00:39:13,730 --> 00:39:17,450 S1: this year's limit into what's called an able account a, B, l, e. 715 00:39:18,010 --> 00:39:21,410 S1: And money in an able account does not count against 716 00:39:21,410 --> 00:39:26,330 S1: the $2,000 limit. And so that's specifically for those, uh, 717 00:39:26,450 --> 00:39:28,890 S1: you know, with special needs. And that allows them to 718 00:39:28,930 --> 00:39:32,609 S1: keep their savings and their government checks. The other thing 719 00:39:32,610 --> 00:39:34,410 S1: you could look at doing, and you'd want to get 720 00:39:34,410 --> 00:39:37,250 S1: with an attorney who really has some experience in this area, 721 00:39:37,250 --> 00:39:40,009 S1: but you could look at putting a special needs trust 722 00:39:40,010 --> 00:39:43,450 S1: in place, which would, again, allow you to put money 723 00:39:43,450 --> 00:39:47,290 S1: away that could be available, you know, even well beyond 724 00:39:47,290 --> 00:39:51,330 S1: your life to be there to fund the needs of these, 725 00:39:51,730 --> 00:39:56,370 S1: you know, special needs. Now adult children who still want 726 00:39:56,370 --> 00:40:00,570 S1: to be able to take advantage of the government assistance, but, um, 727 00:40:00,570 --> 00:40:04,170 S1: you know, have the additional resources for a wide range 728 00:40:04,170 --> 00:40:07,250 S1: of expenses, whether that's housing or food or, you know, 729 00:40:07,290 --> 00:40:10,790 S1: other types of needs that they might have. So if 730 00:40:10,790 --> 00:40:14,190 S1: it's SSI, it is means tested. You've got to be careful. 731 00:40:14,190 --> 00:40:16,670 S1: But I think with the combination of either the able 732 00:40:16,670 --> 00:40:18,630 S1: account A, B, l, e, it stands for achieving a 733 00:40:18,630 --> 00:40:22,790 S1: better life experience. Um or the special needs trust or both. 734 00:40:22,790 --> 00:40:25,989 S1: They can be very effective working together. Uh, you know, 735 00:40:26,030 --> 00:40:27,910 S1: that would be the way that you would deal with that. 736 00:40:27,910 --> 00:40:28,870 S1: Does that make sense? 737 00:40:30,390 --> 00:40:34,270 S8: It does. Uh, where would I open up an able account? 738 00:40:34,670 --> 00:40:35,230 S3: Yeah. 739 00:40:35,310 --> 00:40:39,549 S1: Um, you know, it's, it's pretty easy to do and 740 00:40:39,550 --> 00:40:43,590 S1: it's built on the, the five, two, nine chassis, um, 741 00:40:43,790 --> 00:40:46,509 S1: which is where the, you know, you create the, um, 742 00:40:46,550 --> 00:40:52,030 S1: college savings funds. And so it's through the state sponsored program, um, 743 00:40:52,550 --> 00:40:55,790 S1: a great website to learn more about this. And then 744 00:40:55,790 --> 00:40:58,270 S1: ultimately you would pick which state you want to go 745 00:40:58,270 --> 00:41:03,670 S1: to is called the, um, the able National resource Center, 746 00:41:03,950 --> 00:41:07,779 S1: a b l e national Resource center. You'll find that 747 00:41:07,780 --> 00:41:12,500 S1: at abeln. Org that will help you to understand what 748 00:41:12,500 --> 00:41:15,779 S1: these are. And then once you choose the state and again, 749 00:41:15,780 --> 00:41:17,500 S1: it doesn't have to be your home state, although it 750 00:41:17,500 --> 00:41:21,020 S1: could be. Once you choose your state, then you'll go 751 00:41:21,020 --> 00:41:23,540 S1: to their website to create the able. Okay. 752 00:41:24,460 --> 00:41:25,620 S8: Okay. All right. 753 00:41:25,900 --> 00:41:26,339 S3: All right. 754 00:41:26,340 --> 00:41:28,980 S1: Very good. Hey, we appreciate your call today. Lord bless you. 755 00:41:28,980 --> 00:41:31,060 S1: Thanks for being on the program. Hey folks. Thanks for 756 00:41:31,060 --> 00:41:33,100 S1: being with us today. Boy, what a treat to come 757 00:41:33,100 --> 00:41:35,580 S1: alongside you to encourage you to help you think about 758 00:41:35,580 --> 00:41:39,580 S1: managing God's money. Listen, if you want to apply these 759 00:41:39,580 --> 00:41:42,180 S1: principles that we talk about on this program every day 760 00:41:42,180 --> 00:41:45,700 S1: and your financial life, and you want somebody who understands 761 00:41:45,700 --> 00:41:48,859 S1: the counsel of Scripture that can walk with you. Well, 762 00:41:48,860 --> 00:41:52,180 S1: that's why we created the Certified Kingdom Advisor designation. It's 763 00:41:52,180 --> 00:41:58,060 S1: the only industry accepted designation across financial services for biblically 764 00:41:58,060 --> 00:42:02,419 S1: wise financial advice. It requires really high standards that are 765 00:42:02,420 --> 00:42:06,600 S1: ongoing year after year, including a pastor and client reference. 766 00:42:06,600 --> 00:42:10,560 S1: Rigorous training. Proctored exam. Statement of faith, code of ethics, 767 00:42:11,080 --> 00:42:14,600 S1: annual continuing education, and much more. You can find a 768 00:42:14,600 --> 00:42:18,040 S1: Certified Kingdom advisor in your area. There's almost 2000 of 769 00:42:18,040 --> 00:42:23,120 S1: them around the country. Just head to find a c.com. 770 00:42:23,280 --> 00:42:27,279 S1: Find a c k.com. Well folks, it's been a joy 771 00:42:27,280 --> 00:42:30,080 S1: to be along with you today. Thanks for inviting us 772 00:42:30,080 --> 00:42:33,239 S1: into your story. What a joy it is to encourage 773 00:42:33,239 --> 00:42:35,680 S1: you with God's Word as you seek to be that 774 00:42:35,760 --> 00:42:39,240 S1: wise and faithful steward. Our goal that you'd see God 775 00:42:39,239 --> 00:42:42,359 S1: as your ultimate treasure. Let me say thanks to my 776 00:42:42,360 --> 00:42:45,960 S1: team today. I couldn't do it without them. Amy, Dan, Gabby, tee, 777 00:42:45,960 --> 00:42:48,680 S1: and Jim. Faith in finance lives a partnership between Moody 778 00:42:48,719 --> 00:42:51,879 S1: Radio and Faith fi. Have a wonderful day and come 779 00:42:51,920 --> 00:42:54,439 S1: back and join us next time for another edition of 780 00:42:54,440 --> 00:42:55,800 S1: Faith and Finance Live.