1 00:00:03,040 --> 00:00:06,720 S1: Today's faith and finance live is actually not live. So 2 00:00:06,720 --> 00:00:08,440 S1: our phone lines are not open. 3 00:00:08,600 --> 00:00:11,480 S2: You don't need a fortune to start investing just a 4 00:00:11,480 --> 00:00:16,000 S2: few small, faithful steps. Hi, I'm Rob West. It's easy 5 00:00:16,000 --> 00:00:19,000 S2: to assume investing requires a large sum of money, but 6 00:00:19,000 --> 00:00:22,600 S2: today we'll show you why that simply isn't true. Mark 7 00:00:22,600 --> 00:00:26,520 S2: Biller joins us to explain how starting small, staying consistent, 8 00:00:26,520 --> 00:00:29,160 S2: and keeping it simple can put you on a lifelong 9 00:00:29,160 --> 00:00:32,320 S2: path of wise stewardship. Then we have some great calls 10 00:00:32,320 --> 00:00:35,200 S2: lined up. But we won't be taking your calls today 11 00:00:35,200 --> 00:00:39,320 S2: because we're pre-recorded. This is faith and finance. Live. Biblical 12 00:00:39,320 --> 00:00:44,639 S2: wisdom for your financial decisions. Well, our guest today is 13 00:00:44,640 --> 00:00:48,160 S2: Mark Biller, executive editor and senior portfolio manager at Sound 14 00:00:48,200 --> 00:00:51,920 S2: Mind Investing, one of our long time faithful underwriters, Mark. 15 00:00:51,960 --> 00:00:53,280 S2: Great to have you back. 16 00:00:53,320 --> 00:00:54,880 S3: Well, it's great to be here, Rob. 17 00:00:55,120 --> 00:00:57,880 S2: Mark. You've got a great article in your latest newsletter 18 00:00:57,880 --> 00:01:01,990 S2: reminding readers that they don't need much to start investing, 19 00:01:01,990 --> 00:01:05,190 S2: just a willingness to take those first steps. So for 20 00:01:05,190 --> 00:01:07,830 S2: someone ready to begin, where would you point them? 21 00:01:08,510 --> 00:01:12,990 S3: Yeah, Rob, we always start with a person's financial foundation. 22 00:01:13,030 --> 00:01:16,029 S3: You know, as exciting as it is to jump right 23 00:01:16,030 --> 00:01:19,830 S3: to the investing part, it just doesn't make sense to 24 00:01:19,870 --> 00:01:24,230 S3: start risking money in the financial markets if your foundation 25 00:01:24,230 --> 00:01:28,870 S3: isn't solid yet. Now, regular listeners of your program already 26 00:01:28,870 --> 00:01:33,470 S3: know what having a solid financial foundation means. It's paying 27 00:01:33,470 --> 00:01:37,710 S3: down any consumer debt, building at least a small emergency 28 00:01:37,750 --> 00:01:41,590 S3: savings fund, and then creating and following a budget. You 29 00:01:41,590 --> 00:01:44,550 S3: know somebody who's paying a double digit interest rate on 30 00:01:44,550 --> 00:01:48,590 S3: credit card debt, or even high single digit interest on 31 00:01:48,590 --> 00:01:51,790 S3: a student or car loan, they're usually going to be 32 00:01:51,790 --> 00:01:56,190 S3: better served by taking the sure return of retiring that 33 00:01:56,190 --> 00:02:00,500 S3: debt before they start to invest. Now, the one exception 34 00:02:00,500 --> 00:02:04,020 S3: to that, Rob, is if somebody overall debt load is 35 00:02:04,060 --> 00:02:07,060 S3: is pretty small and they have at least a small 36 00:02:07,060 --> 00:02:11,739 S3: savings reserve. Well, in that situation, if their 401 K 37 00:02:11,780 --> 00:02:17,060 S3: or their other workplace retirement plan matches contributions, then we 38 00:02:17,060 --> 00:02:19,540 S3: might say that it's a good move to contribute at 39 00:02:19,580 --> 00:02:22,220 S3: least the amount that they need to to take full 40 00:02:22,220 --> 00:02:26,540 S3: advantage of that guaranteed return from the employer matching. 41 00:02:26,980 --> 00:02:29,380 S2: Yeah, that's a great reminder. And it really is important 42 00:02:29,380 --> 00:02:32,459 S2: to hit these financial steps in the right order. So 43 00:02:32,460 --> 00:02:36,180 S2: based on that mark is a person's workplace retirement plan 44 00:02:36,180 --> 00:02:39,740 S2: the first place they should focus when they're ready to invest. 45 00:02:40,060 --> 00:02:42,860 S3: Yeah. That's what we usually recommend. You know a good 46 00:02:42,860 --> 00:02:47,060 S3: workplace 401 K or other retirement plan at work is 47 00:02:47,060 --> 00:02:51,540 S3: going to provide 2 or 3 very specific, very key benefits. 48 00:02:51,700 --> 00:02:54,740 S3: First of all, it's going to provide a tax advantaged 49 00:02:54,740 --> 00:02:59,540 S3: vehicle to invest within and that tax advantage. Putting the 50 00:02:59,540 --> 00:03:03,100 S3: tax off is going to make a huge difference in 51 00:03:03,139 --> 00:03:07,100 S3: a person's long term returns. Second, the workplace plan is 52 00:03:07,100 --> 00:03:11,260 S3: going to easily automate the investing process. And that's just 53 00:03:11,260 --> 00:03:16,740 S3: a huge behavioral hack to help people actually be consistent 54 00:03:16,740 --> 00:03:21,179 S3: with their investing. And lastly, if there is a contribution match, 55 00:03:21,180 --> 00:03:26,180 S3: well that's going to be an immediate 100% return or 50% return. 56 00:03:26,180 --> 00:03:31,300 S3: However the match is structured. Those immediate guaranteed returns, they're 57 00:03:31,300 --> 00:03:34,299 S3: hard to come by in the investing world. So they're 58 00:03:34,300 --> 00:03:37,580 S3: a really big deal. And that's why we usually suggest 59 00:03:38,060 --> 00:03:42,020 S3: investigating your workplace plan first. Now, for people who don't 60 00:03:42,020 --> 00:03:46,420 S3: have a workplace retirement plan, the next best thing is 61 00:03:46,420 --> 00:03:51,540 S3: typically an IRA. And for younger investors, a Roth IRA 62 00:03:51,580 --> 00:03:53,540 S3: typically makes the most sense. 63 00:03:53,580 --> 00:03:56,290 S2: Yeah. All right. That's good advice. Now, a lot of 64 00:03:56,290 --> 00:03:59,490 S2: people who are new to investing tell us they feel 65 00:03:59,490 --> 00:04:03,330 S2: overwhelmed by the sheer amount of information out there. So 66 00:04:03,370 --> 00:04:06,970 S2: how can they stay focused without feeling buried by it all? 67 00:04:07,610 --> 00:04:10,890 S3: Yeah, well, the first thing I'd encourage listeners with is 68 00:04:10,890 --> 00:04:14,770 S3: you don't have to know everything before you get started. 69 00:04:14,810 --> 00:04:17,530 S3: You know, it is very easy to feel overwhelmed and 70 00:04:17,529 --> 00:04:20,570 S3: kind of paralyzed because everybody's worried that they're going to 71 00:04:20,570 --> 00:04:23,610 S3: do it wrong. And, you know, the reality is you 72 00:04:23,610 --> 00:04:26,930 S3: might do it wrong, but just getting started is the 73 00:04:26,930 --> 00:04:31,250 S3: most important thing. Because investing is like most things in life, 74 00:04:31,250 --> 00:04:34,490 S3: you're going to learn a lot just by doing it. 75 00:04:34,490 --> 00:04:38,490 S3: So getting moving, getting some momentum, there's plenty of time 76 00:04:38,490 --> 00:04:42,490 S3: to course correct as needed later. And secondly, you know, 77 00:04:42,529 --> 00:04:46,210 S3: investing is a habit. So like any habit, if you 78 00:04:46,210 --> 00:04:50,089 S3: can just get started with consistent contributions, even if they're 79 00:04:50,089 --> 00:04:54,200 S3: small a little each pay period, that habit is going 80 00:04:54,240 --> 00:04:55,880 S3: to build strength over time. 81 00:04:56,040 --> 00:04:59,560 S2: Yeah, well, we'll get into some of those very specific 82 00:04:59,560 --> 00:05:02,479 S2: next steps you can take. This is so helpful because 83 00:05:02,480 --> 00:05:05,000 S2: I know so many in our listening audience have a 84 00:05:05,000 --> 00:05:07,840 S2: desire to invest. They just don't know where to begin. 85 00:05:07,880 --> 00:05:10,320 S2: Mark Miller is here to help you with all of that. 86 00:05:10,320 --> 00:05:12,840 S2: And if you want to read more, check out this article, 87 00:05:12,839 --> 00:05:18,400 S2: Starting Small Finishing Well at Sound Mind Investing. Mark Miller, 88 00:05:18,440 --> 00:05:21,520 S2: Executive editor at Sound Mind Investing, is our guest today. 89 00:05:21,560 --> 00:05:38,760 S2: Back with much more after this. Stick around. So you're 90 00:05:38,760 --> 00:05:42,080 S2: ready to start investing. You just don't know where to begin. Well, 91 00:05:42,080 --> 00:05:45,520 S2: we've got some help for you today. We're talking starting 92 00:05:45,520 --> 00:05:49,279 S2: small in investing with Mark Miller, Mark's executive editor and 93 00:05:49,279 --> 00:05:53,190 S2: senior portfolio manager at Sound Mind Investing, a long time 94 00:05:53,230 --> 00:05:56,790 S2: underwriter of this program. And before the break, Mark was 95 00:05:56,790 --> 00:06:01,349 S2: talking about just the importance of starting, just beginning where 96 00:06:01,350 --> 00:06:04,790 S2: you're at, even if you're starting small in dollar amounts, 97 00:06:04,830 --> 00:06:08,030 S2: even if you don't have all the know how. Just 98 00:06:08,029 --> 00:06:11,190 S2: get going. And often your workplace plan, if you have one, 99 00:06:11,190 --> 00:06:13,710 S2: is the best place to begin, if not a Roth 100 00:06:13,710 --> 00:06:17,990 S2: IRA or a traditional IRA if you're a little older. Mark, 101 00:06:18,029 --> 00:06:21,430 S2: you were talking about some of those basics that you 102 00:06:21,430 --> 00:06:26,110 S2: can begin with the steps, if you will, to faithful investing. 103 00:06:26,230 --> 00:06:27,469 S2: Unpack those for us. 104 00:06:27,910 --> 00:06:31,870 S3: Yeah, sure. Well, one is that especially when you're starting out, 105 00:06:31,910 --> 00:06:34,830 S3: just stick to the fundamentals, as we talked about a 106 00:06:34,830 --> 00:06:38,070 S3: little bit earlier. There's so many different ways you can 107 00:06:38,070 --> 00:06:41,270 S3: go with investing. But if you focus on the basics 108 00:06:41,510 --> 00:06:46,990 S3: which are saving consistently, diversifying to avoid taking on unnecessary 109 00:06:46,990 --> 00:06:50,870 S3: risk and then staying invested through market ups and downs, 110 00:06:50,910 --> 00:06:54,190 S3: That's a big part of the battle. Um, a second 111 00:06:54,190 --> 00:06:58,670 S3: basic that I'd encourage listeners to consider is try to 112 00:06:58,710 --> 00:07:03,589 S3: find just a few investing resources that you really trust. 113 00:07:03,710 --> 00:07:08,270 S3: And then, importantly, actively try to tune out the rest. 114 00:07:08,350 --> 00:07:13,790 S3: There's just so much noise on Twitter, CNBC, you name it. 115 00:07:13,950 --> 00:07:17,110 S3: It really can be overwhelming if you're trying to take 116 00:07:17,110 --> 00:07:20,030 S3: it all in. Um, that's going to lead into a 117 00:07:20,030 --> 00:07:24,150 S3: third point, which is try to steadily grow your investing 118 00:07:24,150 --> 00:07:28,150 S3: knowledge while resisting any sense of panic that you don't 119 00:07:28,150 --> 00:07:30,870 S3: know enough and you're going to mess this up. And 120 00:07:30,870 --> 00:07:34,350 S3: just to follow up on that point, if the financial 121 00:07:34,350 --> 00:07:39,310 S3: voices you've selected are stirring any kind of fear or 122 00:07:39,310 --> 00:07:44,390 S3: greed or even an unhealthy sense of urgency within you, 123 00:07:44,550 --> 00:07:47,510 S3: you probably need to cut out those voices and find 124 00:07:47,510 --> 00:07:50,940 S3: some new ones, because those are not the emotions that 125 00:07:50,940 --> 00:07:53,220 S3: you want governing your investing. 126 00:07:53,460 --> 00:07:57,020 S2: Yeah, that's well said. Mark, let's go back to workplace 127 00:07:57,020 --> 00:08:00,020 S2: retirement plans for a moment. You said that's a great 128 00:08:00,020 --> 00:08:02,860 S2: place to begin. And in particular it has to do 129 00:08:02,860 --> 00:08:06,660 S2: with the matching contribution that is so important. I don't 130 00:08:06,660 --> 00:08:08,940 S2: want folks to miss this because I believe this is 131 00:08:08,940 --> 00:08:12,660 S2: often misunderstood. Explain why that is so key. 132 00:08:13,300 --> 00:08:16,540 S3: Yeah. Well, I mean to bottom line, it Rob, the 133 00:08:16,540 --> 00:08:21,620 S3: match that your employer provides is essentially free money. I 134 00:08:21,620 --> 00:08:25,660 S3: think of that as being part of your compensation that 135 00:08:25,660 --> 00:08:29,340 S3: you only receive if you contribute to the plan. Now, 136 00:08:29,380 --> 00:08:33,179 S3: that is obviously going to accelerate your early growth when 137 00:08:33,179 --> 00:08:37,179 S3: your balance is still small. It's also going to build 138 00:08:37,179 --> 00:08:41,620 S3: the habit of saving into a long term account because 139 00:08:41,620 --> 00:08:44,860 S3: you don't have access to it. It really helps kind 140 00:08:44,860 --> 00:08:48,570 S3: of avoid the temptations of of dipping into that early 141 00:08:48,570 --> 00:08:51,730 S3: and so forth. Um, you know, I guess to bottom line, 142 00:08:51,730 --> 00:08:55,210 S3: this Rob, you know, skipping the match is really like 143 00:08:55,250 --> 00:08:58,050 S3: turning down part of your paycheck. You know, when I 144 00:08:58,050 --> 00:09:02,410 S3: talk to young people, uh, sometimes they're evaluating job offers 145 00:09:02,410 --> 00:09:05,610 S3: where the salary might be a little lighter than they'd hoped. 146 00:09:05,770 --> 00:09:08,050 S3: And I'm always quick to point out that a good 147 00:09:08,050 --> 00:09:12,250 S3: 401 K match can add a few thousand dollars per 148 00:09:12,250 --> 00:09:15,370 S3: year to their overall package. Um, and you're right, a 149 00:09:15,410 --> 00:09:17,650 S3: lot of people don't think about it that way, but 150 00:09:17,650 --> 00:09:21,690 S3: it really is money that your employer is offering to 151 00:09:21,730 --> 00:09:25,370 S3: pay you. Uh, and most people don't usually turn down 152 00:09:25,370 --> 00:09:28,490 S3: pay raises, nor should they turn down the match in 153 00:09:28,490 --> 00:09:29,490 S3: their 41K. 154 00:09:29,730 --> 00:09:32,650 S2: Yeah, it is so significant. All right. For those who 155 00:09:32,650 --> 00:09:35,449 S2: are just getting started, Mark, that don't have access to 156 00:09:35,490 --> 00:09:38,610 S2: that workplace plan. Uh, I know you've pointed them even 157 00:09:38,610 --> 00:09:42,850 S2: today to an IRA and especially a Roth IRA for 158 00:09:42,850 --> 00:09:46,370 S2: younger investors. Talk about why that's such a strong place 159 00:09:46,370 --> 00:09:47,120 S2: to begin. 160 00:09:47,600 --> 00:09:51,160 S3: Sure. Let's quickly go through the basics of a Roth IRA. 161 00:09:51,559 --> 00:09:55,240 S3: With a Roth, you contribute after tax dollars that then 162 00:09:55,240 --> 00:09:59,600 S3: grow tax free as long as you wait until retirement 163 00:09:59,600 --> 00:10:03,240 S3: to withdraw them. So that's why we say it's a helpful, 164 00:10:03,400 --> 00:10:08,840 S3: a similarly helpful tax advantaged environment like a workplace plan 165 00:10:08,840 --> 00:10:12,960 S3: would provide. Now, when you put after tax dollars into 166 00:10:12,960 --> 00:10:18,200 S3: a Roth, that's especially beneficial for younger workers because younger 167 00:10:18,200 --> 00:10:21,839 S3: workers are typically paying very low income tax rates to 168 00:10:21,840 --> 00:10:25,600 S3: begin with. If we contrast that with older employees who 169 00:10:25,600 --> 00:10:29,520 S3: are paying higher tax rates, it's pretty easy to see 170 00:10:29,520 --> 00:10:33,280 S3: why people like you and I often take the shortcut 171 00:10:33,320 --> 00:10:36,600 S3: of just saying that younger investors should probably look to 172 00:10:36,640 --> 00:10:40,720 S3: a Roth in most situations. Yeah. Um, as you get 173 00:10:40,720 --> 00:10:44,800 S3: closer to retirement age, Roths have other benefits. They're great 174 00:10:44,800 --> 00:10:49,270 S3: because unlike traditional IRAs, you don't have to take mandatory 175 00:10:49,309 --> 00:10:53,870 S3: distributions from Roth IRAs and retirement. So Roths give you 176 00:10:53,870 --> 00:10:59,230 S3: a lot of flexibility and potential tax diversification in retirement. 177 00:10:59,390 --> 00:11:02,150 S3: And like we've said here, Rob, you know, any IRA, 178 00:11:02,150 --> 00:11:06,030 S3: whether it's traditional or Roth, is going to help encourage 179 00:11:06,030 --> 00:11:10,950 S3: a long term investing mindset. And that's really key for 180 00:11:10,950 --> 00:11:12,710 S3: building wealth over time. 181 00:11:13,230 --> 00:11:16,070 S2: Yeah. Now after the account is open, Marc, the very 182 00:11:16,070 --> 00:11:18,590 S2: next question we hear is okay, now what do I 183 00:11:18,590 --> 00:11:22,590 S2: invest in. So what's your guidance for keeping it simple here. 184 00:11:23,150 --> 00:11:26,949 S3: Yeah. Well considering most of the people that are starting 185 00:11:26,950 --> 00:11:30,110 S3: out are hopefully going to be operating within a company 186 00:11:30,110 --> 00:11:34,350 S3: retirement plan, you know, starting with the broad low cost 187 00:11:34,350 --> 00:11:39,030 S3: index funds that almost every plan offers is a really 188 00:11:39,030 --> 00:11:44,230 S3: good way to go. SMEs first strategy over 35 years 189 00:11:44,230 --> 00:11:48,510 S3: ago that we still offer today as an indexing strategy. 190 00:11:48,550 --> 00:11:52,470 S3: We call it just the basics. It's simple, diversified, and 191 00:11:52,470 --> 00:11:56,470 S3: very beginner friendly. Um, index funds are great for newer 192 00:11:56,470 --> 00:12:01,070 S3: investors because they quickly and easily spread your risk really 193 00:12:01,070 --> 00:12:04,830 S3: widely across a lot of different stocks and or bonds. 194 00:12:05,070 --> 00:12:08,550 S3: And index funds are really easy to use. Um, that's 195 00:12:08,550 --> 00:12:11,550 S3: going to give you plenty of time to learn more 196 00:12:11,550 --> 00:12:16,110 S3: about maybe some other involved investing approaches as you gain 197 00:12:16,110 --> 00:12:19,350 S3: some experience. But you don't have to start with the 198 00:12:19,350 --> 00:12:22,510 S3: harder stuff. Start with the easy stuff, and that usually 199 00:12:22,510 --> 00:12:26,750 S3: is as easy as a single total market index fund. Um, 200 00:12:26,750 --> 00:12:32,750 S3: just focus on plowing that money into that index fund consistently. Um, 201 00:12:32,870 --> 00:12:35,230 S3: you know, SMI also, we have a lot of articles. 202 00:12:35,230 --> 00:12:38,590 S3: We talk on these programs a lot about developing a 203 00:12:38,590 --> 00:12:44,700 S3: personal investing plan, a really good idea for for new investors. Um, 204 00:12:44,700 --> 00:12:47,540 S3: and also, you know, on our site, we have a 205 00:12:47,540 --> 00:12:51,380 S3: bunch of other strategies that listeners can begin to learn 206 00:12:51,380 --> 00:12:54,460 S3: about if they ever want to branch out from the 207 00:12:54,460 --> 00:12:58,980 S3: simplicity of indexing. But indexing really is a great place 208 00:12:58,980 --> 00:13:00,860 S3: to start for a new investor. 209 00:13:01,100 --> 00:13:03,900 S2: Yeah. And Mark, they can use any of the discount 210 00:13:03,900 --> 00:13:07,580 S2: brokerage houses to implement this strategy, right. Like a Fidelity 211 00:13:07,580 --> 00:13:08,300 S2: or Schwab. 212 00:13:08,940 --> 00:13:12,660 S3: Yeah, that's exactly right. Plus, if they're in a workplace plan, 213 00:13:12,700 --> 00:13:15,660 S3: almost every workplace plan is going to have a good 214 00:13:15,660 --> 00:13:17,780 S3: selection of index funds to use. 215 00:13:17,940 --> 00:13:20,860 S2: Yeah. Excellent. All right. As we begin to wrap up today, 216 00:13:20,860 --> 00:13:23,700 S2: when you think about someone listening who's just beginning their 217 00:13:23,700 --> 00:13:26,579 S2: investing journey, what encouragement would you leave them with? 218 00:13:27,140 --> 00:13:31,020 S3: Well, Rob, I'd tell them that yes, investing can be complicated, 219 00:13:31,020 --> 00:13:33,260 S3: but it doesn't have to be. It's probably one of 220 00:13:33,260 --> 00:13:35,900 S3: the best examples of the 80 over 20 rule that 221 00:13:35,900 --> 00:13:40,380 S3: I can think of, where just 20% of the knowledge 222 00:13:40,380 --> 00:13:43,690 S3: and following through is going to give you 80% of 223 00:13:43,690 --> 00:13:48,090 S3: the benefits of investing. And that 20% is simply you 224 00:13:48,090 --> 00:13:50,850 S3: don't need a lot of money to start. Time is 225 00:13:50,850 --> 00:13:55,410 S3: your biggest ally. Keep your heart anchored in biblical stewardship 226 00:13:55,570 --> 00:13:58,210 S3: and trust that God is going to use small beginnings 227 00:13:58,210 --> 00:13:59,450 S3: for great outcomes. 228 00:13:59,890 --> 00:14:02,130 S2: That is very well said, and I would add to 229 00:14:02,170 --> 00:14:05,170 S2: that head over to Sound Mind Investing. Org and read 230 00:14:05,170 --> 00:14:09,890 S2: this article starting small, finishing well, and then connect with 231 00:14:09,890 --> 00:14:12,250 S2: the team at SMI to help you implement it. Mark, 232 00:14:12,250 --> 00:14:13,410 S2: thanks for being here today. 233 00:14:13,650 --> 00:14:15,370 S3: Thanks, Rob. Always my pleasure. 234 00:14:15,570 --> 00:14:19,090 S2: That's Mark Biller, executive editor at Sound Mind Investing, a 235 00:14:19,130 --> 00:14:22,490 S2: long time underwriter of faith and finance. Live. Much more 236 00:14:22,490 --> 00:14:35,410 S2: to come. Just around the corner. Stick around. So glad 237 00:14:35,410 --> 00:14:38,130 S2: to have you with us today on Faith and Finance Live. 238 00:14:38,130 --> 00:14:41,000 S2: Our team is away today, so don't call in. But 239 00:14:41,000 --> 00:14:43,720 S2: we lined up some great questions in advance and we'll 240 00:14:43,720 --> 00:14:45,960 S2: be going to those here in just a moment. Let 241 00:14:45,960 --> 00:14:48,440 S2: me also remind you that the advice that I give 242 00:14:48,480 --> 00:14:52,000 S2: each day on this program is general in nature. We 243 00:14:52,280 --> 00:14:56,120 S2: offer principles and ideas that apply at a high level. 244 00:14:56,120 --> 00:14:59,560 S2: They are not personalized. So that's why you should always 245 00:14:59,600 --> 00:15:03,080 S2: seek professional financial advice. And if you'd like to find 246 00:15:03,080 --> 00:15:06,320 S2: a professional who shares your values, we of course, here 247 00:15:06,320 --> 00:15:10,680 S2: at Faith and Finance Live recommend the Certified Kingdom Advisor designation. 248 00:15:10,720 --> 00:15:13,240 S2: These are men and women who've met high standards, and 249 00:15:13,240 --> 00:15:16,240 S2: they've been trained to bring a biblical worldview of financial 250 00:15:16,240 --> 00:15:19,440 S2: decision making. You can find one at Faith comm. All right. 251 00:15:19,440 --> 00:15:21,640 S2: Let's get to our calls today that we've lined up 252 00:15:21,640 --> 00:15:24,440 S2: for you. Let's head to Mississippi. Tommy. Go ahead. 253 00:15:25,120 --> 00:15:27,800 S4: Rob, thank you for all your hard work keeping us 254 00:15:27,800 --> 00:15:29,239 S4: in line with our future. 255 00:15:29,440 --> 00:15:31,440 S2: I appreciate that, absolutely. 256 00:15:32,120 --> 00:15:34,320 S4: Rob, I got a little dilemma here and I was 257 00:15:34,320 --> 00:15:38,240 S4: hoping to get your input. I'm getting advice from several people. 258 00:15:38,320 --> 00:15:41,280 S4: pretty comfortable with the 401 K and got some Ros 259 00:15:41,280 --> 00:15:44,480 S4: and some CDs, and I'm looking at probably 5 to 260 00:15:44,480 --> 00:15:47,680 S4: 6 more years of full time work, and we've got 261 00:15:47,680 --> 00:15:51,880 S4: 65,000 that's been kind of sitting in a Roth IRA 262 00:15:52,320 --> 00:15:55,880 S4: and not doing anything. So shame on me on that. 263 00:15:56,320 --> 00:15:59,479 S4: So we've been advised a couple of different things looking 264 00:16:00,160 --> 00:16:04,800 S4: at maybe some corporate bonds. Looks like we might get 4.5. 265 00:16:04,840 --> 00:16:08,960 S4: And I've got a good Christian brother that's super successful. 266 00:16:09,000 --> 00:16:12,320 S4: He recommends the John Deere and the Dominion Energy. 267 00:16:12,720 --> 00:16:14,320 S2: Mhm. Okay. 268 00:16:14,520 --> 00:16:18,480 S4: Other options that we're looking at is uh CD um 269 00:16:18,760 --> 00:16:20,840 S4: I don't know if it's going to get the interest 270 00:16:20,840 --> 00:16:23,960 S4: rate that's been projected. He's telling us 6%. I don't 271 00:16:23,960 --> 00:16:27,440 S4: see how that's going to happen. And then my accountant 272 00:16:27,440 --> 00:16:29,840 S4: threw a curve at me and said an ETF. 273 00:16:30,360 --> 00:16:33,640 S2: Mm. Yeah. Yeah. I mean, these are great questions, Tommy. 274 00:16:33,640 --> 00:16:36,280 S2: And I love the fact that you said, listen, we're 65. 275 00:16:36,320 --> 00:16:39,790 S2: We've still got some work years left. You've got a 276 00:16:39,790 --> 00:16:42,270 S2: good 401 K. It sounds like to me you feel 277 00:16:42,270 --> 00:16:45,750 S2: like you're on track for having what you need with 278 00:16:45,750 --> 00:16:49,150 S2: Social Security and maybe, uh, you know, reasonable withdrawal rate 279 00:16:49,150 --> 00:16:52,110 S2: from that 401 K once you do get to retirement. 280 00:16:52,110 --> 00:16:54,470 S2: And then this is just kind of a bonus that 281 00:16:54,470 --> 00:16:57,190 S2: would be a part of those overall retirement assets. And 282 00:16:57,190 --> 00:16:59,950 S2: I think we need to view this, uh, this Roth, 283 00:16:59,950 --> 00:17:03,150 S2: this 65,000 kind of as a piece of the whole 284 00:17:03,390 --> 00:17:06,750 S2: and not necessarily look at at it as a standalone, 285 00:17:06,950 --> 00:17:09,550 S2: you know, component because really it is a part of, 286 00:17:09,550 --> 00:17:13,389 S2: of your overall retirement assets. Um, you know, and then 287 00:17:13,390 --> 00:17:17,830 S2: the next step, even before the individual investments or products 288 00:17:17,830 --> 00:17:21,590 S2: you might use, whether that's corporate bonds or an ETF or, um, 289 00:17:21,590 --> 00:17:23,990 S2: you know, even a CD, I think it's what is 290 00:17:23,990 --> 00:17:28,429 S2: the right allocation in terms of asset class. So typically 291 00:17:28,430 --> 00:17:31,150 S2: we would say, you know, the rule of thumb used 292 00:17:31,150 --> 00:17:33,709 S2: to be 100 minus your age is the amount you 293 00:17:33,710 --> 00:17:36,300 S2: might want to think about having in stocks, the rest 294 00:17:36,300 --> 00:17:39,740 S2: in bonds. People are living longer. We use now 110 295 00:17:39,740 --> 00:17:42,660 S2: minus your age. So it's 65, let's call it. Um, 296 00:17:42,940 --> 00:17:45,380 S2: you know, that would be 110. -65 would mean you'd 297 00:17:45,420 --> 00:17:49,419 S2: have about 45% in stocks, 55% in bonds or a 298 00:17:49,420 --> 00:17:53,420 S2: fixed income type approach. You could round that out at 5050. 299 00:17:53,460 --> 00:17:57,260 S2: Or you could go a little more conservative with, uh, 60, 40, 300 00:17:57,300 --> 00:18:02,900 S2: 60 fixed income, 40 stocks. But somewhere around there acknowledges that. Listen, 301 00:18:02,900 --> 00:18:05,419 S2: if the Lord tarries and if he doesn't, it doesn't matter. 302 00:18:05,420 --> 00:18:07,939 S2: But if the Lord tarries and you're in good health, uh, 303 00:18:07,940 --> 00:18:11,219 S2: you know, this money could need to last this account 304 00:18:11,220 --> 00:18:14,460 S2: plus the other retirement assets for three decades or more, 305 00:18:14,460 --> 00:18:17,460 S2: well into your 90s or beyond. And so you still 306 00:18:17,460 --> 00:18:20,260 S2: have the ability to take a long term perspective with 307 00:18:20,260 --> 00:18:24,500 S2: at least a portion of this money. And as a result, 308 00:18:24,500 --> 00:18:27,740 S2: because of inflation and because you're losing purchasing power and 309 00:18:27,740 --> 00:18:29,780 S2: because you want to grow it, even though you want 310 00:18:29,780 --> 00:18:32,140 S2: to be more conservative than you were during your working years. 311 00:18:32,140 --> 00:18:34,810 S2: That's why you might want to think about somewhere between 312 00:18:34,850 --> 00:18:38,290 S2: a 6040 portfolio. You know, all the way up to 313 00:18:38,330 --> 00:18:42,609 S2: maybe a 5050 type portfolio. But once you make that decision, 314 00:18:42,609 --> 00:18:45,770 S2: then we answer the question, okay, for the fixed income portion, 315 00:18:45,770 --> 00:18:47,649 S2: what are we going to use? And that's where I 316 00:18:47,650 --> 00:18:51,250 S2: think corporates are appropriate. CDs are appropriate. Maybe even a 317 00:18:51,250 --> 00:18:54,690 S2: little bit of gold in that allocation. Uh, and then 318 00:18:54,690 --> 00:18:57,930 S2: for the stock portion, that's where I think ETFs could 319 00:18:57,930 --> 00:19:01,090 S2: be a great option for you. So I think perhaps 320 00:19:01,090 --> 00:19:04,290 S2: all of these could be in play. The only challenge 321 00:19:04,290 --> 00:19:07,929 S2: you're going to have is buying individual corporate bonds. You 322 00:19:07,930 --> 00:19:09,689 S2: know if we get down let's say you went with 323 00:19:09,690 --> 00:19:14,369 S2: a 6040 portfolio and you said, okay, on 65,000. You know, 324 00:19:14,410 --> 00:19:19,810 S2: we're talking about, uh, you know, 26,000 is the entire, um, 325 00:19:20,010 --> 00:19:24,169 S2: or uh, actually 60% of 65,000 would be about 40,000 326 00:19:24,210 --> 00:19:27,890 S2: would be the entire bond portion. And, you know, that's 327 00:19:27,890 --> 00:19:31,570 S2: not a whole lot in terms of buying individual bonds, 328 00:19:31,570 --> 00:19:34,210 S2: because you don't have a lot of diversification. A lot 329 00:19:34,210 --> 00:19:37,570 S2: of people might look at a bond ETF where you're 330 00:19:37,570 --> 00:19:41,730 S2: just getting a basket of short and medium term corporate 331 00:19:41,730 --> 00:19:44,330 S2: bonds that are really high grade. That could be one 332 00:19:44,330 --> 00:19:46,570 S2: way to go. Or you could buy the individual ones. 333 00:19:46,570 --> 00:19:49,570 S2: Maybe you buy $10,000 worth of a corporate bond or 334 00:19:49,570 --> 00:19:51,850 S2: something like that. But does that all make sense? And 335 00:19:51,850 --> 00:19:53,090 S2: I've thrown a lot at you there. 336 00:19:53,609 --> 00:19:56,850 S4: It does. And thank you so much. This is great information. 337 00:19:57,050 --> 00:20:01,330 S4: Is there an ETF that you like over the others? 338 00:20:01,369 --> 00:20:03,650 S4: I looked at a couple that were done. The top 339 00:20:03,650 --> 00:20:08,850 S4: performers like Amsoil and Valvoline. It looks like AC Delco. 340 00:20:09,330 --> 00:20:11,409 S4: Sure I didn't know if there was one that a 341 00:20:11,410 --> 00:20:13,010 S4: little bit more faith based too. 342 00:20:13,170 --> 00:20:16,090 S2: Yeah it's a good question. So I don't actually make 343 00:20:16,090 --> 00:20:19,929 S2: individual recommendations. Um and so you've got a couple of 344 00:20:19,930 --> 00:20:23,130 S2: options here. I mean there are some great, uh, mutual 345 00:20:23,130 --> 00:20:26,690 S2: fund families and ETF fund families that are faith aligned. 346 00:20:26,730 --> 00:20:29,889 S2: You'll find all of them on our website at com. 347 00:20:29,890 --> 00:20:33,360 S2: Just click on the show and you'll see Crossmark and 348 00:20:33,359 --> 00:20:37,800 S2: Praxis and Guidestone and Eventide and others, and many of 349 00:20:37,800 --> 00:20:40,800 S2: them have ETFs in the bond space. So you would 350 00:20:40,800 --> 00:20:43,840 S2: be confident that they'll all be screened for Christian values. 351 00:20:44,280 --> 00:20:48,280 S2: Praxis in particular has a great one that's in the 352 00:20:48,560 --> 00:20:52,159 S2: that's faith aligned. That is a bond fixed income type 353 00:20:52,160 --> 00:20:56,879 S2: fund that's, you know, doing impact bonds and has a 354 00:20:56,880 --> 00:20:59,880 S2: great return. But it's it's really getting to some, some 355 00:20:59,880 --> 00:21:02,960 S2: much needed places in the world in terms of the 356 00:21:03,000 --> 00:21:06,679 S2: places that these bonds are being lended to. So, uh, 357 00:21:06,680 --> 00:21:09,239 S2: you know, I think starting with that allocation, is it 358 00:21:09,240 --> 00:21:11,200 S2: 50 over 50, is it 60 over 40? And then 359 00:21:11,200 --> 00:21:14,000 S2: once you land on that, maybe working with your advisor 360 00:21:14,000 --> 00:21:17,960 S2: or this trusted friend who has some expertise to actually 361 00:21:18,000 --> 00:21:22,159 S2: select the investments, because for that income, fixed income portion, 362 00:21:22,160 --> 00:21:25,440 S2: maybe it is one CD and a couple of corporates 363 00:21:25,440 --> 00:21:28,520 S2: or a corporate ETF. And then on the stock side, 364 00:21:28,560 --> 00:21:33,030 S2: you know, maybe it's just a high quality, you know, uh, growth, uh, 365 00:21:33,070 --> 00:21:37,870 S2: you know, faith based ETF from Eventide or Crossmark that, um, 366 00:21:37,910 --> 00:21:41,109 S2: you know, could solve for that asset allocation. And I 367 00:21:41,109 --> 00:21:42,670 S2: think that could serve you really well. 368 00:21:43,030 --> 00:21:45,430 S4: Excellent. Rob, you've been super helpful and I appreciate all 369 00:21:45,430 --> 00:21:46,470 S4: your hard work. 370 00:21:46,590 --> 00:21:50,070 S2: Thank you Tommy. And Lord bless you, my friend. Call anytime. Jeanette. 371 00:21:50,190 --> 00:21:53,150 S2: Coming your way after the break. Heather, Mark and Holly 372 00:21:53,150 --> 00:21:55,750 S2: all holding. We'll get to those calls right after this. 373 00:21:55,750 --> 00:21:57,870 S2: This is faith and finance. We'll be right back. 374 00:22:05,150 --> 00:22:08,910 S1: You're listening to Faith and finance live. This program is prerecorded, 375 00:22:08,910 --> 00:22:11,710 S1: so we're not available to answer your calls, but you 376 00:22:11,710 --> 00:22:14,950 S1: can email us your questions at at. 377 00:22:17,510 --> 00:22:20,350 S2: Let's head back to the phones. Arkansas. Jeanette. Go ahead. 378 00:22:21,109 --> 00:22:22,630 S5: Thank you for taking my call. 379 00:22:22,630 --> 00:22:23,270 S2: Yes, ma'am. 380 00:22:24,270 --> 00:22:28,899 S5: Um, I have one son, and I've gone to a 381 00:22:28,900 --> 00:22:33,419 S5: lawyer and had all my my will done. All of 382 00:22:33,460 --> 00:22:38,580 S5: that is straightened out. My question is, is up on 383 00:22:38,580 --> 00:22:43,060 S5: my desk. Excuse me. Upon my death, I have several 384 00:22:43,060 --> 00:22:49,540 S5: organizations that I want to leave a one time gift to. Mhm. 385 00:22:49,940 --> 00:22:55,220 S5: Is it best to do it after I die, or 386 00:22:55,220 --> 00:22:58,140 S5: would it be better to do it before I die? 387 00:22:58,420 --> 00:23:01,700 S2: Yeah. Yeah. I mean there's a couple of considerations there. 388 00:23:01,700 --> 00:23:04,540 S2: First of all, I love your desire to be generous 389 00:23:04,540 --> 00:23:07,660 S2: with what God has entrusted to you. Uh, and you've 390 00:23:07,660 --> 00:23:11,500 S2: already selected some ministries that are on your heart. That's great. Um, 391 00:23:11,660 --> 00:23:14,260 S2: you know, I love what the author, Ron Blue, says 392 00:23:14,260 --> 00:23:16,700 S2: in his book, Splitting Heirs. He says, do your giving 393 00:23:16,700 --> 00:23:19,780 S2: while you're living, so you're knowing where it's going. And 394 00:23:20,380 --> 00:23:23,859 S2: I think that's not a bad strategy. So I love 395 00:23:23,859 --> 00:23:26,380 S2: the idea of you getting that money into circulation in 396 00:23:26,380 --> 00:23:30,290 S2: God's economy sooner rather than later. One of the questions, though, 397 00:23:30,330 --> 00:23:33,290 S2: you'd always have, always have to ask is, you know, 398 00:23:33,330 --> 00:23:35,050 S2: do I feel a conviction from the Lord to give 399 00:23:35,050 --> 00:23:37,170 S2: it right now? And how does that fit into my 400 00:23:37,170 --> 00:23:41,690 S2: overall financial plan? And, you know, if these are assets 401 00:23:41,690 --> 00:23:44,850 S2: you may need to tap into, uh, at some point 402 00:23:44,850 --> 00:23:47,250 S2: in the future, you may want to keep them in 403 00:23:47,250 --> 00:23:51,609 S2: your care invested or in savings, and then give them 404 00:23:51,609 --> 00:23:54,490 S2: away efficiently at death, which we can talk about how 405 00:23:54,490 --> 00:23:57,570 S2: you do that. Um, or you may say, no, I'm 406 00:23:57,570 --> 00:24:01,530 S2: considering this to be surplus. Um, you know, I've defined 407 00:24:01,570 --> 00:24:07,250 S2: enough for accumulation, and this is beyond my enough, whatever 408 00:24:07,250 --> 00:24:09,609 S2: that is, that's between you and the Lord. And so 409 00:24:09,609 --> 00:24:11,690 S2: I feel good about going ahead and giving that away 410 00:24:11,690 --> 00:24:13,970 S2: right now. And if that was true, I'd say go 411 00:24:13,970 --> 00:24:15,930 S2: for it and don't look back. I think a third 412 00:24:15,930 --> 00:24:18,730 S2: scenario is, even if it's a part of your financial plan, 413 00:24:18,730 --> 00:24:20,449 S2: if you feel the leading of the Lord to give 414 00:24:20,450 --> 00:24:23,770 S2: it away, I'd say listen to that. So give me 415 00:24:23,770 --> 00:24:26,810 S2: a sense of kind of the funds that you're talking 416 00:24:26,810 --> 00:24:29,690 S2: about here that you ultimately want to donate to these 417 00:24:29,690 --> 00:24:34,570 S2: organizations you've selected, where are these funds now and are 418 00:24:34,570 --> 00:24:37,210 S2: you considering them to be over and above what you 419 00:24:37,210 --> 00:24:40,290 S2: need to have available for the rest of your life, 420 00:24:40,290 --> 00:24:42,970 S2: such that you could give now? Or do you feel 421 00:24:42,970 --> 00:24:44,730 S2: like you might need to hang on to it just 422 00:24:44,730 --> 00:24:46,689 S2: to see if if it's going to be needed for 423 00:24:46,690 --> 00:24:47,930 S2: something down the road. 424 00:24:48,850 --> 00:24:51,930 S5: That I'm not sure of. I'm. I'm 65 and I'm 425 00:24:51,930 --> 00:24:58,730 S5: still working, but I plan to retire in 2027 and 426 00:24:58,730 --> 00:25:04,210 S5: this money is part of my 401 K my retirement. 427 00:25:04,450 --> 00:25:05,650 S2: Okay. Yeah. 428 00:25:05,930 --> 00:25:09,690 S5: But I have okay. I only have the one son, 429 00:25:09,690 --> 00:25:15,850 S5: and I have no doubt whatsoever that he would follow 430 00:25:16,210 --> 00:25:20,649 S5: my wishes, uh, that I'm not worried about him not 431 00:25:20,650 --> 00:25:24,050 S5: doing it. I didn't know if it would be, I 432 00:25:24,200 --> 00:25:29,000 S5: guess tax wise hurt him or or how all of 433 00:25:29,040 --> 00:25:29,960 S5: that would work. 434 00:25:30,000 --> 00:25:32,560 S2: Yeah. Well, typically what you would want to do just 435 00:25:32,560 --> 00:25:34,959 S2: based on what you just described, is because this is 436 00:25:34,960 --> 00:25:38,160 S2: a part of your retirement plan. Leave it there. Obviously, 437 00:25:38,160 --> 00:25:40,520 S2: you're continuing to give along the way just out of 438 00:25:40,520 --> 00:25:43,000 S2: current cash flow as the Lord leads your tithe and 439 00:25:43,000 --> 00:25:45,760 S2: whatever giving you do. But with the retirement account, you 440 00:25:45,760 --> 00:25:49,320 S2: would typically leave it there. Once you separate from your 441 00:25:49,320 --> 00:25:52,480 S2: employer when you retire in 2027, we'd roll it out 442 00:25:52,480 --> 00:25:55,840 S2: to an individual retirement account, an IRA. It stays in 443 00:25:55,840 --> 00:25:59,320 S2: a tax deferred environment. That's key. You'd have an advisor, 444 00:25:59,359 --> 00:26:03,160 S2: probably a certified Kingdom advisor, which you could find at 445 00:26:03,160 --> 00:26:08,040 S2: Findacode.com there in Arkansas, who shares your values, who would 446 00:26:08,040 --> 00:26:10,879 S2: be the one to manage it for you? And then 447 00:26:10,920 --> 00:26:14,119 S2: you would use that to generate income to supplement Social 448 00:26:14,119 --> 00:26:16,040 S2: Security for you to live on for the rest of 449 00:26:16,040 --> 00:26:19,359 S2: your life. And then at death, you would decide what 450 00:26:19,359 --> 00:26:22,000 S2: portion is going to your son and what portion is 451 00:26:22,000 --> 00:26:26,510 S2: going to ministry or charity, and then you'd name those organizations. 452 00:26:26,550 --> 00:26:29,270 S2: The typical way you would do that is you could 453 00:26:29,310 --> 00:26:34,390 S2: either have more than one named beneficiaries on that IRA. 454 00:26:34,670 --> 00:26:38,070 S2: So let's say you wanted half of the IRA, which is, 455 00:26:38,109 --> 00:26:40,670 S2: you know, your your current 401 K that's rolled out 456 00:26:40,670 --> 00:26:42,949 S2: once you retire, you want it half to go to 457 00:26:42,950 --> 00:26:47,510 S2: your son. You'd list him as a 50% beneficiary, so 458 00:26:47,510 --> 00:26:49,670 S2: he gets half of it. And then you could list 459 00:26:49,670 --> 00:26:54,670 S2: the ministries, the organizations as the other beneficiaries, maybe 20% 460 00:26:54,670 --> 00:26:58,110 S2: to one and, you know, 10% to another and 20% 461 00:26:58,109 --> 00:27:00,790 S2: to a third. And then it would go directly to 462 00:27:00,830 --> 00:27:04,550 S2: those ministries at your death. The other option is you 463 00:27:04,550 --> 00:27:09,669 S2: could give whatever portion you want to go to ministry 464 00:27:09,670 --> 00:27:13,950 S2: at death as a beneficiary to your donor advised fund. 465 00:27:13,990 --> 00:27:16,910 S2: Think of that like a charitable checking account. And you'd 466 00:27:16,910 --> 00:27:20,670 S2: name your son as a successor advisor so that after 467 00:27:20,670 --> 00:27:23,420 S2: you're passing the money that's going to him would go 468 00:27:23,420 --> 00:27:26,140 S2: directly to him. The money that's going to ministry would 469 00:27:26,140 --> 00:27:28,580 S2: go into your donor advised fund, and then he would 470 00:27:28,580 --> 00:27:32,419 S2: just log in online and grant it out to whatever 471 00:27:32,420 --> 00:27:35,139 S2: ministries you told him you wanted it to go to. 472 00:27:35,500 --> 00:27:38,340 S2: That would be a really simple and clear way for 473 00:27:38,340 --> 00:27:40,940 S2: it to happen. The third way is you just write 474 00:27:40,980 --> 00:27:44,540 S2: a letter of intent. It's not legally binding, but it's helpful. 475 00:27:44,619 --> 00:27:47,980 S2: You give 100% to him and you explain to him 476 00:27:47,980 --> 00:27:50,220 S2: where you want it to go and why. And then 477 00:27:50,220 --> 00:27:51,899 S2: he takes care of it. And you trust him to 478 00:27:51,900 --> 00:27:54,180 S2: do that. I think any one of those three options 479 00:27:54,180 --> 00:27:56,060 S2: could work for you. Does that make sense? 480 00:27:56,540 --> 00:27:59,180 S5: It does. The last one is what I was going 481 00:27:59,220 --> 00:28:02,340 S5: to do. Um, write it down, put it in an 482 00:28:02,340 --> 00:28:06,100 S5: envelope and tell him open it up on my desk. 483 00:28:06,420 --> 00:28:09,140 S5: And I have no doubt that he would follow that. 484 00:28:09,140 --> 00:28:13,179 S5: But the the other one that you recommended, the donor fund. 485 00:28:13,460 --> 00:28:16,060 S5: Is that something that a K sets up? 486 00:28:16,300 --> 00:28:18,060 S2: No, you could do that on your own. I would 487 00:28:18,060 --> 00:28:20,980 S2: do that at the National Christian Foundation, which was started 488 00:28:20,980 --> 00:28:24,420 S2: by Larry Burkett and Ron Blue. They've given tens of 489 00:28:24,420 --> 00:28:28,179 S2: billions of dollars away to Christian ministries. They don't originate 490 00:28:28,180 --> 00:28:32,140 S2: the gifts. They just create the giving vehicles and givers 491 00:28:32,140 --> 00:28:35,580 S2: like you direct the money so you'd go to their website. 492 00:28:38,380 --> 00:28:42,700 S2: And you click the button that says open a giving fund. 493 00:28:42,740 --> 00:28:45,380 S2: That's their name for a donor advised fund. And in 494 00:28:45,380 --> 00:28:47,140 S2: 3 or 4 minutes you'd open it. Just kind of 495 00:28:47,180 --> 00:28:49,220 S2: like you were opening a checking account, except now it's 496 00:28:49,220 --> 00:28:52,580 S2: a giving fund. And then you would name your giving 497 00:28:52,580 --> 00:28:56,900 S2: fund as whatever, you know, portion of your assets you 498 00:28:56,900 --> 00:29:00,100 S2: want at death to go in. You'd list your son 499 00:29:00,100 --> 00:29:02,100 S2: on it and then he would grant it out. So 500 00:29:02,100 --> 00:29:04,540 S2: that's one way to do it. The other is just 501 00:29:04,540 --> 00:29:07,580 S2: what you said. You make him a 100% beneficiary of 502 00:29:07,580 --> 00:29:11,060 S2: everything on your IRA and in your will, and then 503 00:29:11,060 --> 00:29:13,260 S2: you give him a letter of intent and tell him 504 00:29:13,260 --> 00:29:14,540 S2: how you want him to handle it. 505 00:29:15,660 --> 00:29:18,260 S5: Okay, great. Thank you so much. 506 00:29:18,300 --> 00:29:21,690 S2: All right. Thanks for your call today. Lord bless you. Uh, Louisiana. Heather. 507 00:29:21,730 --> 00:29:22,290 S2: Go ahead. 508 00:29:23,210 --> 00:29:27,850 S6: Hi. I just wanted to ask a quick question concerning crypto. 509 00:29:28,170 --> 00:29:31,730 S6: I don't know how how much you're into that, but, um, 510 00:29:32,530 --> 00:29:36,050 S6: my husband and I pastor a church, and, uh, he 511 00:29:36,050 --> 00:29:39,410 S6: retired from his other secular job, so he is pulling 512 00:29:39,410 --> 00:29:43,250 S6: a little bit monthly from his 401 K. I also 513 00:29:43,250 --> 00:29:46,290 S6: have a small amount in a 401 K, and I'm 514 00:29:46,290 --> 00:29:51,650 S6: still currently working. Uh, he's 60, I'm 55. And we 515 00:29:51,690 --> 00:29:57,570 S6: are wanting to, uh, get started into, uh, dabbling into crypto, 516 00:29:57,610 --> 00:29:59,810 S6: which neither one of us really know a whole lot 517 00:29:59,810 --> 00:30:03,730 S6: about it. Um, but my main question is, is there 518 00:30:03,730 --> 00:30:08,010 S6: a way to transfer funds, some of the funds out 519 00:30:08,010 --> 00:30:11,850 S6: of our 401 K directly to purchase crypto? 520 00:30:12,450 --> 00:30:17,480 S2: There really isn't. Yeah. For one, don't allow direct crypto purchases, 521 00:30:17,480 --> 00:30:20,560 S2: you'd have to take a with a distribution which would 522 00:30:20,560 --> 00:30:25,320 S2: make a taxable event, and then you'd buy the crypto directly. Um, 523 00:30:25,360 --> 00:30:27,800 S2: so that would be one way to do it. Uh, 524 00:30:27,800 --> 00:30:30,680 S2: the other way is you could roll it out to 525 00:30:30,680 --> 00:30:34,560 S2: an IRA, an individual retirement account, assuming you've separated from 526 00:30:34,560 --> 00:30:38,720 S2: employment in both cases, and then buy a Bitcoin ETF 527 00:30:38,760 --> 00:30:42,960 S2: exchange traded fund. You're not owning it directly. You're owning 528 00:30:43,000 --> 00:30:47,680 S2: essentially a basket, uh, that investment that mirrors the price 529 00:30:47,680 --> 00:30:49,920 S2: of crypto. So let's talk about more of that in 530 00:30:49,920 --> 00:31:06,720 S2: the next segment. Stay with us. We're so glad you've 531 00:31:06,720 --> 00:31:09,560 S2: joined us for Faith and Finance Live today here in 532 00:31:09,560 --> 00:31:12,040 S2: our final segment, let me remind you not to call 533 00:31:12,040 --> 00:31:14,600 S2: in because we're not live today, but we'd love for 534 00:31:14,600 --> 00:31:17,830 S2: you to stick around and enjoy the rest of the program. 535 00:31:17,830 --> 00:31:20,350 S2: Before the break, we were talking to Heather. She and 536 00:31:20,350 --> 00:31:23,110 S2: her husband have a couple of 401 S. Hers has 537 00:31:23,110 --> 00:31:28,790 S2: about 30,000. His has 80,000 from previous employers. He's retired 538 00:31:28,950 --> 00:31:33,230 S2: and they're wanting to begin to have some exposure to crypto. 539 00:31:33,590 --> 00:31:36,470 S2: And just wondering how to do that with these 401 s. 540 00:31:36,510 --> 00:31:39,310 S2: And I think the first question is, or the first 541 00:31:39,350 --> 00:31:42,350 S2: kind of decision point is to decide how you want 542 00:31:42,350 --> 00:31:44,350 S2: to approach this, you know, what is it you're trying 543 00:31:44,350 --> 00:31:47,830 S2: to accomplish? Do you want to actually have, uh, you know, 544 00:31:47,870 --> 00:31:52,070 S2: actual cryptocurrency? Like, do you want a bitcoin with the 545 00:31:52,110 --> 00:31:55,030 S2: keys in the wallet and so forth, or are you 546 00:31:55,030 --> 00:31:59,030 S2: just believing that crypto is going to continue to rise 547 00:31:59,030 --> 00:32:03,150 S2: and you're wanting to capture the appreciation? And if so, 548 00:32:03,190 --> 00:32:06,110 S2: a really simple way, without getting into the the digital 549 00:32:06,110 --> 00:32:08,470 S2: wallets and having to keep up with the keys and, 550 00:32:08,510 --> 00:32:10,110 S2: you know, all of the things that come with owning 551 00:32:10,110 --> 00:32:14,150 S2: crypto directly is you could buy one of the institutional 552 00:32:14,350 --> 00:32:18,870 S2: Bitcoin ETFs, an exchange traded fund and just like a 553 00:32:18,910 --> 00:32:23,550 S2: gold ETF, mirrors the spot price of gold as it 554 00:32:23,550 --> 00:32:28,110 S2: moves up and down in lockstep, a Bitcoin ETF would 555 00:32:28,110 --> 00:32:31,670 S2: move directly with Bitcoin. And so it's just a really 556 00:32:31,670 --> 00:32:34,830 S2: simple way for you to start to take an allocation 557 00:32:35,070 --> 00:32:40,110 S2: in Bitcoin in terms of who should consider having Bitcoin 558 00:32:40,110 --> 00:32:42,390 S2: in their portfolio. It really comes down to your risk 559 00:32:42,390 --> 00:32:45,670 S2: tolerance and position sizing. You know, a lot of people 560 00:32:45,710 --> 00:32:48,870 S2: are starting to think about it and even referring to 561 00:32:48,910 --> 00:32:52,670 S2: it as digital gold because it's a store of value 562 00:32:52,670 --> 00:32:56,670 S2: and it can protect a person's purchasing power against the 563 00:32:56,670 --> 00:33:01,270 S2: constant debasement of government currencies. Now, it might sound crazy 564 00:33:01,270 --> 00:33:04,070 S2: to call an asset that routinely has the volatility of 565 00:33:04,070 --> 00:33:06,910 S2: Bitcoin a store of value, and yet it has a 566 00:33:06,910 --> 00:33:10,310 S2: lot of the characteristics of gold. It has scarcity built 567 00:33:10,310 --> 00:33:12,910 S2: into its DNA. You can only. There's only going to 568 00:33:12,910 --> 00:33:17,620 S2: be 21 million bitcoins ever produced. So that appeals to 569 00:33:17,660 --> 00:33:21,500 S2: investors who are watching what's going on with global governments 570 00:33:21,500 --> 00:33:23,660 S2: and central banks around the world saying, wait a minute, 571 00:33:23,660 --> 00:33:26,340 S2: if they're going to continue to debase their currency. I 572 00:33:26,340 --> 00:33:28,660 S2: like gold a lot. It's one of the reasons gold 573 00:33:28,660 --> 00:33:31,500 S2: has had a huge run up as of late. And again, 574 00:33:31,500 --> 00:33:34,700 S2: a lot of people, especially younger generations, are saying, you 575 00:33:34,700 --> 00:33:37,140 S2: know what, I'm going to see Bitcoin as kind of 576 00:33:37,180 --> 00:33:40,500 S2: my my digital gold allocation. But even then I would 577 00:33:40,500 --> 00:33:43,060 S2: say the most you'd want to put in gold is 10% 578 00:33:43,300 --> 00:33:47,140 S2: and I'd say no more than 3 to 5%. You know, 579 00:33:47,180 --> 00:33:49,700 S2: as a part of your, you know, your gold, if 580 00:33:49,740 --> 00:33:52,100 S2: you have a 10% gold allocation, I might take up 581 00:33:52,100 --> 00:33:54,500 S2: to half of that and put it in Bitcoin. So 582 00:33:54,500 --> 00:33:57,100 S2: that would only be 5%. Now you may be thinking 583 00:33:57,340 --> 00:33:59,900 S2: a larger percentage and that's up to you. You just 584 00:33:59,900 --> 00:34:03,900 S2: need to understand that it's pretty speculative, very volatile you 585 00:34:03,900 --> 00:34:06,460 S2: know and it moves around a good bit. And so 586 00:34:06,460 --> 00:34:09,020 S2: in this season of life where you all are in retirement, 587 00:34:09,180 --> 00:34:13,089 S2: I would caution you about getting, you know, an allocation 588 00:34:13,090 --> 00:34:16,890 S2: in any crypto. And and I would recommend bitcoin because 589 00:34:16,890 --> 00:34:19,250 S2: I think there's bitcoin and then there's everything else and 590 00:34:19,250 --> 00:34:22,210 S2: everything else is the wild wild West. So I'd stay 591 00:34:22,210 --> 00:34:25,810 S2: in Bitcoin but I'd be recommending only a 5% allocation. 592 00:34:25,810 --> 00:34:28,170 S2: So if we looked at, you know your 80,000 and 593 00:34:28,170 --> 00:34:32,969 S2: your 30,000 we're talking 110,000. You know a 5% allocation 594 00:34:32,969 --> 00:34:37,130 S2: is $5,000. Um, so not a whole lot. And again, 595 00:34:37,130 --> 00:34:39,290 S2: you may be saying I was thinking a lot more 596 00:34:39,330 --> 00:34:42,210 S2: than that. And I would caution you against that. But 597 00:34:42,210 --> 00:34:45,250 S2: the nice thing about the Bitcoin ETF is it can 598 00:34:45,250 --> 00:34:47,729 S2: easily be bought in an IRA. Once you roll this 599 00:34:47,730 --> 00:34:50,970 S2: out to an IRA and you can buy it any 600 00:34:50,969 --> 00:34:53,450 S2: amount of money as little as you want. And so 601 00:34:53,450 --> 00:34:57,370 S2: a $5,000, you know, position in a Bitcoin ETF would 602 00:34:57,370 --> 00:34:59,930 S2: be very easy to do. And then you could just 603 00:34:59,969 --> 00:35:01,890 S2: kind of watch it and see how it does over time. 604 00:35:01,890 --> 00:35:03,570 S2: But give me your thoughts on all that. 605 00:35:04,130 --> 00:35:06,609 S6: Uh, it sounds pretty good. Um, we weren't going to, 606 00:35:06,650 --> 00:35:10,129 S6: you know, uh, risk a lot anyway. I wasn't going 607 00:35:10,239 --> 00:35:15,400 S6: to do anything over 5000. Okay, um, if that much anyway. But, 608 00:35:15,440 --> 00:35:17,239 S6: you know, like I said, we're just dabbling in it 609 00:35:17,239 --> 00:35:20,040 S6: right now, just trying to get ahead of the game. 610 00:35:20,280 --> 00:35:22,600 S6: And that's, you know, pretty much it. 611 00:35:22,640 --> 00:35:25,479 S2: Sure. Well, the two biggest in the country are the 612 00:35:25,480 --> 00:35:30,600 S2: iShares Bitcoin Trust ETF. The symbol is Ibuy. And then 613 00:35:30,600 --> 00:35:36,120 S2: the next largest is the Fidelity Bitcoin Fund. And so 614 00:35:36,160 --> 00:35:38,880 S2: I think either of those you know could serve you well. 615 00:35:38,920 --> 00:35:41,239 S2: Again you could take, you know, somewhere between a two 616 00:35:41,280 --> 00:35:44,799 S2: and $5,000 position very easily. And then it would just 617 00:35:44,800 --> 00:35:48,960 S2: follow the price of Bitcoin over time. And it could 618 00:35:48,960 --> 00:35:52,080 S2: be a small part, but, you know, a meaningful part 619 00:35:52,080 --> 00:35:55,200 S2: of your portfolio. Heather I hope that helps. Let me 620 00:35:55,200 --> 00:35:57,320 S2: just remind you though, it would require you to roll 621 00:35:57,320 --> 00:36:00,839 S2: those 401 or at least your husband's 41K out from 622 00:36:01,040 --> 00:36:04,719 S2: where it is now into an individual retirement account before 623 00:36:04,719 --> 00:36:06,440 S2: you do this. But then at that point you could 624 00:36:06,480 --> 00:36:09,589 S2: buy one of these ETFs. Hope that helps. Let's go 625 00:36:09,590 --> 00:36:11,310 S2: to Arkansas. Hi, Mark. Go ahead. 626 00:36:11,870 --> 00:36:13,230 S7: Thank you for taking my call. 627 00:36:13,430 --> 00:36:13,990 S2: Yes, sir. 628 00:36:14,390 --> 00:36:17,990 S7: I have a 401 K, and I need some advice 629 00:36:17,989 --> 00:36:19,589 S7: on what to do with it. How to go about 630 00:36:19,590 --> 00:36:23,710 S7: doing things with it. I'm 60 years old. My job 631 00:36:24,110 --> 00:36:26,590 S7: that I'd been working for for a good number of years. 632 00:36:26,830 --> 00:36:30,910 S7: Last half of 2025, they terminated that position. So I 633 00:36:30,910 --> 00:36:31,910 S7: lost my job. 634 00:36:32,630 --> 00:36:33,190 S2: I'm sorry. 635 00:36:33,510 --> 00:36:35,430 S7: So I really don't want to draw into this 401 636 00:36:35,430 --> 00:36:38,230 S7: K if I don't have to, but maybe you can 637 00:36:38,230 --> 00:36:41,310 S7: give me some advice on what to do with it. Yeah. There's, uh, 638 00:36:41,350 --> 00:36:44,170 S7: last time I looked at it, there's about a 1.5 639 00:36:44,170 --> 00:36:48,149 S7: million in it. Okay. It's volatile. It. I mean, when 640 00:36:48,150 --> 00:36:50,750 S7: you look at it, it's all over the place. Okay. 641 00:36:50,830 --> 00:36:53,230 S7: So I need to get that out into something that's safer. 642 00:36:53,390 --> 00:36:56,709 S2: Yes. Makes sense. Uh, Mark, are you going to look 643 00:36:56,710 --> 00:36:59,830 S2: for another job or are you going to fully retire 644 00:36:59,830 --> 00:37:00,590 S2: at this point? 645 00:37:01,550 --> 00:37:05,069 S7: No. I'm currently looking for another job. It's just a 646 00:37:05,070 --> 00:37:08,469 S7: tough market for where I live at. For what I 647 00:37:08,469 --> 00:37:09,189 S7: was doing. So. 648 00:37:09,230 --> 00:37:12,069 S2: Sure. Yeah, I got it. And what are you living 649 00:37:12,070 --> 00:37:14,870 S2: on at this point? Are you drawing from this 401 K? 650 00:37:15,670 --> 00:37:16,350 S7: Excuse me. 651 00:37:16,710 --> 00:37:19,750 S2: What are you living on right now? What is your income? 652 00:37:20,830 --> 00:37:25,950 S7: Um, we live on approximately about 40 K a year. 653 00:37:26,350 --> 00:37:28,310 S2: Okay. And where is that coming from? Are you pulling 654 00:37:28,310 --> 00:37:30,590 S2: that from the 401 K, or how are you funding 655 00:37:30,590 --> 00:37:31,350 S2: that 40 K. 656 00:37:31,510 --> 00:37:35,590 S7: No, that um, that was from my previous job. Um. 657 00:37:36,150 --> 00:37:38,830 S2: Okay. How are you paying your bills right now? What? 658 00:37:38,830 --> 00:37:41,390 S2: Where are you drawing your 40,000 a year from? 659 00:37:42,270 --> 00:37:44,550 S7: Uh, currently, my wife works part time. 660 00:37:44,790 --> 00:37:46,110 S2: Okay. All right. 661 00:37:46,150 --> 00:37:49,710 S7: And I am getting a small stipend for a number 662 00:37:49,989 --> 00:37:53,870 S7: of weeks until that runs out from my previous job. 663 00:37:54,030 --> 00:37:56,790 S2: Got it. And if you didn't find another place of employment, 664 00:37:56,790 --> 00:37:59,470 S2: you'd have to, at least in part, start to draw 665 00:37:59,469 --> 00:38:01,670 S2: from your 1.5 million. Is that right? 666 00:38:02,390 --> 00:38:06,580 S7: Yes. Or, um, you know, settle for, for some different job, 667 00:38:06,620 --> 00:38:10,140 S7: you know, whether that's, uh, minimum wage or what? Yeah, 668 00:38:10,140 --> 00:38:11,940 S7: that's kind of what I'm looking at right now. 669 00:38:11,980 --> 00:38:14,660 S2: Yeah, that makes sense. Okay, well, I like the direction 670 00:38:14,660 --> 00:38:17,180 S2: you're headed here. I'm sorry about, uh, you know, being 671 00:38:17,420 --> 00:38:20,779 S2: terminated after such a long time with that company. And, uh, 672 00:38:20,780 --> 00:38:23,180 S2: you know, that I realize it can be challenging depending 673 00:38:23,180 --> 00:38:25,380 S2: on which region of the country you're in. And yet 674 00:38:25,420 --> 00:38:28,820 S2: it's still a fairly robust job market. So, uh, ultimately, 675 00:38:28,860 --> 00:38:31,420 S2: God is our provider. And so let's just join together 676 00:38:31,420 --> 00:38:33,460 S2: and asking the Lord to make it clear where what 677 00:38:33,460 --> 00:38:36,460 S2: your next assignment is. I think in the meantime, you're right, 678 00:38:36,500 --> 00:38:39,259 S2: especially if there's quite a bit of volatility. Maybe you're 679 00:38:39,260 --> 00:38:42,020 S2: a little too aggressively invested. You know, I would say 680 00:38:42,020 --> 00:38:44,700 S2: the right mix of investments, at least as a starting point, 681 00:38:44,700 --> 00:38:46,739 S2: you can dial it up or down in terms of 682 00:38:46,739 --> 00:38:49,100 S2: the risk level. Uh, but I would say probably a 683 00:38:49,100 --> 00:38:52,299 S2: 50 over 50 portfolio at this point at age 60, uh, 684 00:38:52,300 --> 00:38:55,500 S2: would be right, 50% in fixed income, which would be, 685 00:38:55,620 --> 00:38:59,020 S2: you know, maybe CDs and corporate bonds or treasuries, maybe 686 00:38:59,020 --> 00:39:02,780 S2: a little bit of, of gold, uh, allocation there for 687 00:39:02,780 --> 00:39:06,210 S2: half the portfolio, the other half in stocks. Um, you know, 688 00:39:06,250 --> 00:39:09,130 S2: could be a mix of stocks, you know, even some 689 00:39:09,130 --> 00:39:13,009 S2: high quality dividend paying stocks or, um, you know, it 690 00:39:13,010 --> 00:39:16,049 S2: could be through mutual funds or ETFs. But I would 691 00:39:16,050 --> 00:39:19,130 S2: say having an advisor who could, first of all, open 692 00:39:19,130 --> 00:39:22,009 S2: an IRA for you, do some discovery with you on 693 00:39:22,010 --> 00:39:24,210 S2: what your income needs are now and in the future, 694 00:39:24,210 --> 00:39:27,170 S2: what your risk tolerance is. And then you'd roll that 695 00:39:27,170 --> 00:39:31,050 S2: 1.5 million over to that IRA. You'd end up paying 696 00:39:31,050 --> 00:39:34,569 S2: probably 1% a year, and the advisor would manage it 697 00:39:34,570 --> 00:39:37,370 S2: for you based on your goals and objectives. And at 698 00:39:37,410 --> 00:39:41,089 S2: that point, you could dial way back the volatility by 699 00:39:41,090 --> 00:39:44,810 S2: just getting a more conservatively positioned portfolio. But that's a 700 00:39:44,850 --> 00:39:46,930 S2: lot of money. You've worked hard to build that wealth 701 00:39:46,930 --> 00:39:49,250 S2: over your working years, so I wouldn't want you to 702 00:39:49,250 --> 00:39:52,089 S2: put that on autopilot. I think having an advisor to 703 00:39:52,130 --> 00:39:54,890 S2: make that decision for you on a day to day basis, 704 00:39:54,890 --> 00:39:57,410 S2: on how that's to be invested is the right one. 705 00:39:57,410 --> 00:40:01,090 S2: They can also help you with just tax efficiency. Um, 706 00:40:01,290 --> 00:40:04,399 S2: on you know, how you withdraw from that strategically when 707 00:40:04,400 --> 00:40:07,440 S2: that time comes. They could also make sure that you 708 00:40:07,440 --> 00:40:10,279 S2: know you are covering your income needs. And, you know, 709 00:40:10,320 --> 00:40:13,000 S2: let's say you pulled 4% a year. I mean, you 710 00:40:13,000 --> 00:40:17,760 S2: could generate $60,000 a year when you need it. And 711 00:40:17,760 --> 00:40:20,319 S2: let's say it continues to grow even more than 60 712 00:40:20,480 --> 00:40:24,280 S2: and hopefully maintain that 1.5 million or whatever it grows to. 713 00:40:24,560 --> 00:40:27,080 S2: And that way it would last, you know, you well 714 00:40:27,080 --> 00:40:29,799 S2: into your 90s and beyond, but I think getting that 715 00:40:29,800 --> 00:40:32,560 S2: advisor in place and then rolling this to an IRA 716 00:40:32,560 --> 00:40:36,440 S2: is probably the next best option. And I'd recommend you 717 00:40:36,480 --> 00:40:39,319 S2: connect with some certified Kingdom advisors there. In Arkansas, you 718 00:40:39,320 --> 00:40:43,920 S2: can go to find. I'd interview 2 or 3 and 719 00:40:43,920 --> 00:40:45,320 S2: find the one that's the best fit. 720 00:40:46,280 --> 00:40:49,600 S7: Okay. And when you say interview, what is that someone 721 00:40:49,600 --> 00:40:52,960 S7: that just were you connect with as far as personality 722 00:40:52,960 --> 00:40:55,239 S7: wise or what are you what are you looking for 723 00:40:55,239 --> 00:40:56,400 S7: when you do your interview? 724 00:40:56,440 --> 00:40:59,680 S2: Yeah, it's a good question. You're looking for a mix 725 00:40:59,680 --> 00:41:02,879 S2: of kind of, uh, you know, would you be in 726 00:41:02,880 --> 00:41:06,240 S2: their core client base, like, you know, are people like 727 00:41:06,239 --> 00:41:08,080 S2: you with the amount of assets you have, the needs 728 00:41:08,080 --> 00:41:10,480 S2: you have? Are you a good fit for his or 729 00:41:10,480 --> 00:41:14,080 S2: her practice? Yes. I think secondly, it's just, you know, 730 00:41:14,120 --> 00:41:20,480 S2: is there a good match relationally and, you know, communication style. Uh, three. 731 00:41:20,560 --> 00:41:22,880 S2: You know, I would want them to really be a 732 00:41:22,920 --> 00:41:25,279 S2: student of you and be curious about who you are 733 00:41:25,280 --> 00:41:28,080 S2: and what God's doing in your life. Four would be 734 00:41:28,080 --> 00:41:32,239 S2: experience and expertise. And then five would be you need 735 00:41:32,239 --> 00:41:35,600 S2: to fully understand how they get paid. Um, and then 736 00:41:35,600 --> 00:41:38,799 S2: what their track record is in investments with clients who 737 00:41:38,800 --> 00:41:42,680 S2: have a similar investment strategy. So yeah, I think there's 738 00:41:42,680 --> 00:41:45,200 S2: a lot of the advisor getting to know you. You 739 00:41:45,239 --> 00:41:47,480 S2: getting to know the advisor. And I think at the 740 00:41:47,480 --> 00:41:49,200 S2: end of the day, make it a matter of prayer. 741 00:41:49,200 --> 00:41:52,400 S2: And I think one will emerge as a good fit 742 00:41:52,400 --> 00:41:55,239 S2: for you. I can't put a pin on exactly what 743 00:41:55,239 --> 00:41:56,839 S2: that means, but I think you'll know it when you 744 00:41:56,840 --> 00:41:58,200 S2: see it. Is that helpful? 745 00:41:58,760 --> 00:41:59,400 S7: Yes, sir. 746 00:41:59,719 --> 00:42:04,230 S2: All right. find a C.K. Com is the website and 747 00:42:04,270 --> 00:42:07,830 S2: you can search for a certified Kingdom advisor there in Arkansas. Listen, 748 00:42:07,830 --> 00:42:10,230 S2: I appreciate your call today, sir. Lord bless you. Thanks 749 00:42:10,230 --> 00:42:12,230 S2: for being on the program. Well, we're about out of 750 00:42:12,230 --> 00:42:15,030 S2: time today. Before we go, let me remind us why 751 00:42:15,030 --> 00:42:17,149 S2: we do what we do here on this program. Every 752 00:42:17,190 --> 00:42:20,710 S2: day we gather for faith and finance live because we 753 00:42:20,710 --> 00:42:25,190 S2: recognize we all have a high calling. We're money managers 754 00:42:25,190 --> 00:42:28,150 S2: for the King of kings, which means we're to be 755 00:42:28,150 --> 00:42:33,470 S2: found faithful as we manage God's resources, faithfulness, obedience over 756 00:42:33,469 --> 00:42:36,910 S2: a long period of time, applying the wisdom of God's 757 00:42:36,910 --> 00:42:39,630 S2: Word to every area of our lives, and that includes 758 00:42:39,630 --> 00:42:42,710 S2: our finances. So thanks for being here today. We love 759 00:42:42,710 --> 00:42:44,790 S2: to do what we do and serving you to be 760 00:42:44,790 --> 00:42:47,950 S2: wise stewards of God's money. Want to say thanks to 761 00:42:47,989 --> 00:42:50,589 S2: my team today? Couldn't do it without them. Faith and 762 00:42:50,590 --> 00:42:54,509 S2: Finance Live is a partnership between Faith Fi and Moody Radio. 763 00:42:54,670 --> 00:42:56,950 S2: We'll see you next time. God bless you. Bye bye.