1 00:00:08,680 --> 00:00:11,480 S1: Precious treasure and oil are in a wise man's dwelling, 2 00:00:11,480 --> 00:00:16,000 S1: but a foolish man devours it. Proverbs 2120. Hi, I'm 3 00:00:16,000 --> 00:00:19,240 S1: Rob West. God's word couldn't be any plainer on the 4 00:00:19,239 --> 00:00:21,759 S1: need to live below one's means, and to be able 5 00:00:21,760 --> 00:00:24,279 S1: to save for the future. To do that, you need 6 00:00:24,280 --> 00:00:27,480 S1: a budget. Chad Clark is here to share some interesting 7 00:00:27,480 --> 00:00:30,480 S1: facts about budgeting. And then it's on to your calls 8 00:00:30,480 --> 00:00:35,479 S1: at 800 525 7000. This is faith and finance. Live. 9 00:00:35,600 --> 00:00:43,080 S1: Biblical wisdom for your financial decisions. It's always a pleasure 10 00:00:43,080 --> 00:00:45,440 S1: to have Chad Clark with us on the program. As 11 00:00:45,440 --> 00:00:49,560 S1: Faith Fae's Chief Technology Officer, he brings valuable insight into 12 00:00:49,560 --> 00:00:52,800 S1: how we use digital tools to reach God's people with 13 00:00:52,800 --> 00:00:55,600 S1: the message of biblical stewardship. Chad, great to have you 14 00:00:55,600 --> 00:00:56,360 S1: back with us. 15 00:00:56,360 --> 00:00:57,760 S2: Thanks for having me, Chad. 16 00:00:57,760 --> 00:01:00,730 S1: One of your many duties here at Faith fire's keeping 17 00:01:00,770 --> 00:01:04,050 S1: tabs on our app, leading our app development team, and 18 00:01:04,050 --> 00:01:05,850 S1: we'll talk a bit more about that in a minute. 19 00:01:05,850 --> 00:01:09,450 S1: But first, you've actually been doing some research on budgeting 20 00:01:09,450 --> 00:01:11,050 S1: in general. Share that with us. 21 00:01:11,090 --> 00:01:13,770 S2: Yeah, there's some new numbers that came out in a 22 00:01:13,770 --> 00:01:17,450 S2: survey from NerdWallet that found a lot more people budget 23 00:01:17,450 --> 00:01:20,370 S2: than you might originally think. In fact, the poll of 24 00:01:20,410 --> 00:01:24,850 S2: 2000 Americans ages 18 and up, three quarters of them 25 00:01:24,890 --> 00:01:27,970 S2: say they have a monthly budget. All right. That's good news, right? Yeah. 26 00:01:28,010 --> 00:01:30,930 S2: That's good. Until you hear the next stat, which shows 27 00:01:30,930 --> 00:01:35,570 S2: that 84% of those respondents sometimes exceed their monthly budget. 28 00:01:35,930 --> 00:01:37,690 S2: So it doesn't seem like the budget's doing a very 29 00:01:37,690 --> 00:01:40,130 S2: good job of helping them out. No. Uh, so of 30 00:01:40,130 --> 00:01:45,130 S2: those who do overspend, 44% cover that difference using credit cards, um, 31 00:01:45,170 --> 00:01:49,210 S2: which we can then assume 56% are using their savings, uh, 32 00:01:49,210 --> 00:01:51,330 S2: in order to overspend their budget. 33 00:01:51,370 --> 00:01:54,770 S1: Yeah, it's really scary, but it makes sense because we 34 00:01:54,770 --> 00:01:58,010 S1: always tell people that if you aren't living on a budget, 35 00:01:58,010 --> 00:02:00,530 S1: you'll eventually go into debt once you use up any 36 00:02:00,570 --> 00:02:04,130 S1: savings you have. So why do you suppose some people 37 00:02:04,130 --> 00:02:05,490 S1: don't budget at all? 38 00:02:05,530 --> 00:02:07,770 S2: Well, I've been doing this for quite some time, Rob, 39 00:02:07,770 --> 00:02:10,690 S2: and I've heard a lot of different excuses and reasons. 40 00:02:11,450 --> 00:02:13,210 S2: Some of the common ones I hear a lot are 41 00:02:13,210 --> 00:02:16,530 S2: it takes too much time, it's too difficult, and people 42 00:02:16,530 --> 00:02:17,890 S2: don't like doing math. 43 00:02:18,050 --> 00:02:19,130 S1: Um, right. 44 00:02:19,169 --> 00:02:21,130 S2: One that I hear a lot is that people just 45 00:02:21,130 --> 00:02:22,770 S2: don't seem to stick to it. It seems like a 46 00:02:22,770 --> 00:02:24,850 S2: diet to them, and they just aren't able to be 47 00:02:24,850 --> 00:02:28,730 S2: successful at being consistent. Um, I often hear people say, just. 48 00:02:28,730 --> 00:02:31,410 S2: I don't need a budget. I'm doing fine. Um, and 49 00:02:31,410 --> 00:02:33,370 S2: so that's, that's one that we want to obviously unpack 50 00:02:33,370 --> 00:02:36,570 S2: a little bit. Um, and others I often hear say 51 00:02:36,570 --> 00:02:38,930 S2: it limits me. Um, so those are some of the 52 00:02:38,930 --> 00:02:42,090 S2: common excuses I hear why people don't have a budget. 53 00:02:42,130 --> 00:02:43,730 S1: Yeah. And as I think through each of those that 54 00:02:43,730 --> 00:02:45,770 S1: you just mentioned, it seems like a lot of those 55 00:02:45,770 --> 00:02:48,690 S1: excuses are based on misconceptions, right? 56 00:02:48,730 --> 00:02:52,730 S2: Yeah, absolutely. There's plenty of misconceptions. And let's unpack just 57 00:02:52,730 --> 00:02:54,570 S2: a few here and see if we can dispel some 58 00:02:54,570 --> 00:02:58,340 S2: of these. Um, one is a budget is about cutting expenses. 59 00:02:58,540 --> 00:03:01,700 S2: It's not really about that. It's about prioritizing your spending. 60 00:03:01,700 --> 00:03:05,380 S2: It's about making good financial decisions. That's really what the 61 00:03:05,419 --> 00:03:08,300 S2: budget is. It's a decision making tool. It's not just 62 00:03:08,300 --> 00:03:11,900 S2: about cutting things out. Yeah. The other common misconception we 63 00:03:11,900 --> 00:03:15,180 S2: hear is a budget is too rigid. And the truth is, 64 00:03:15,300 --> 00:03:17,700 S2: a budget is only as rigid as you make it. 65 00:03:17,700 --> 00:03:20,419 S2: So you can make as many adjustments as frequently as 66 00:03:20,419 --> 00:03:23,020 S2: you need to to allow the budget to, again, help 67 00:03:23,020 --> 00:03:26,380 S2: you make good decisions. Um, one we just talked about 68 00:03:26,380 --> 00:03:29,100 S2: previously was that I don't need a budget. And often 69 00:03:29,100 --> 00:03:31,019 S2: people say I don't need a budget because I make 70 00:03:31,060 --> 00:03:34,299 S2: enough money to not need a budget. And again, there's 71 00:03:34,300 --> 00:03:36,900 S2: a little bit of pride that sometimes comes in that 72 00:03:36,900 --> 00:03:39,700 S2: that doesn't recognize that. Again, a budget is a decision 73 00:03:39,740 --> 00:03:42,980 S2: making tool, and it's there to equip you to be 74 00:03:42,980 --> 00:03:46,300 S2: wise and faithful with what God has entrusted to you. 75 00:03:46,300 --> 00:03:49,220 S2: So everybody needs a budget to help them make those 76 00:03:49,220 --> 00:03:50,460 S2: good decisions. 77 00:03:50,460 --> 00:03:53,420 S1: That's really helpful, Chad, and to push that idea even further, 78 00:03:53,420 --> 00:03:57,670 S1: if multi-billion dollar companies operate on a budget, then I 79 00:03:57,670 --> 00:04:01,590 S1: make enough really isn't a valid excuse for skipping one. Now, 80 00:04:01,590 --> 00:04:04,070 S1: we've mentioned the Faith VI app a couple of times 81 00:04:04,110 --> 00:04:06,710 S1: and we've got about a minute left. How can the 82 00:04:06,710 --> 00:04:09,350 S1: Faith VI app help someone who wants to start a 83 00:04:09,350 --> 00:04:12,310 S1: budget and actually stick with it in the new year, 84 00:04:12,550 --> 00:04:14,430 S1: maybe even for the very first time? 85 00:04:14,470 --> 00:04:16,790 S2: Yeah, again, I think with the Faith VI app, we've 86 00:04:16,790 --> 00:04:18,990 S2: designed it to be a tool that is there to 87 00:04:19,029 --> 00:04:22,070 S2: assist you. It's there as your assistant. It's there to 88 00:04:22,070 --> 00:04:25,030 S2: help you stay organized and be intentional with every dollar 89 00:04:25,070 --> 00:04:27,190 S2: you have. But there's a few unique elements of the 90 00:04:27,430 --> 00:04:28,950 S2: VI app that I want to highlight here with just 91 00:04:28,950 --> 00:04:32,150 S2: a few seconds left. It's designed to meet your needs. 92 00:04:32,150 --> 00:04:34,630 S2: There are three different ways you can manage money in 93 00:04:34,630 --> 00:04:38,710 S2: the app to fit your unique money management style. The 94 00:04:38,710 --> 00:04:42,030 S2: next point is that it's designed to establish rhythms that 95 00:04:42,029 --> 00:04:46,030 S2: work for you, whether that's daily check ins or weekly reviews. 96 00:04:46,070 --> 00:04:49,830 S2: The app will help you develop good money management habits. 97 00:04:49,830 --> 00:04:52,830 S2: And finally, it's about more than the money. Um, the 98 00:04:53,029 --> 00:04:55,669 S2: content and community elements of the faith are designed to 99 00:04:55,670 --> 00:04:57,870 S2: help you grow in your relationship with the Lord and 100 00:04:57,870 --> 00:05:00,309 S2: help you to be a good and faithful steward for 101 00:05:00,310 --> 00:05:01,190 S2: his glory. 102 00:05:01,230 --> 00:05:03,670 S1: Folks, you need to download this app. Julie and I 103 00:05:03,670 --> 00:05:06,710 S1: use it to manage our money. It is that decision 104 00:05:06,750 --> 00:05:10,510 S1: making tool that Chad mentioned. It's better than ever. And 105 00:05:10,510 --> 00:05:13,350 S1: when you blend the content and the money management tools 106 00:05:13,350 --> 00:05:16,349 S1: and the rhythms, it'll be a game changer for you. Chad, 107 00:05:16,350 --> 00:05:19,110 S1: thanks for stopping by. Thank you again. Just head to 108 00:05:19,150 --> 00:05:23,390 S1: our website, faith.com and click app. We'll be right back. 109 00:05:34,990 --> 00:05:38,229 S3: The opinions offered during this program represent the personal or 110 00:05:38,230 --> 00:05:42,630 S3: professional opinions of the participants, given for informational purposes only. 111 00:05:42,910 --> 00:05:46,390 S3: Any information provided is not intended to replace advice from 112 00:05:46,390 --> 00:05:50,630 S3: a financial, medical, legal, or other professional who understands your 113 00:05:50,800 --> 00:05:52,200 S3: specific situation. 114 00:05:59,520 --> 00:06:01,240 S1: Great to have you with us today on Faith and 115 00:06:01,240 --> 00:06:04,280 S1: finance live. I'm Rob West. Well, our lines are open. 116 00:06:04,279 --> 00:06:08,000 S1: We're ready to help you think about handling God's money 117 00:06:08,000 --> 00:06:12,839 S1: when you call 800 525 7000. Any financial topic in 118 00:06:12,839 --> 00:06:15,640 S1: play today? We've got plenty of room for you at 119 00:06:15,640 --> 00:06:18,240 S1: the moment. So if you have a financial question, go 120 00:06:18,240 --> 00:06:23,440 S1: ahead and call right now. Lines are open 800 525 7000. Uh, 121 00:06:23,440 --> 00:06:25,520 S1: at the end of the broadcast today, in the final segment, 122 00:06:25,520 --> 00:06:27,880 S1: Jerry Bowyer stops by. Jerry and his team have had 123 00:06:27,880 --> 00:06:31,760 S1: some incredible results as of late, uh, in the area 124 00:06:31,760 --> 00:06:35,799 S1: of corporate engagement as they're engaging with the biggest brands 125 00:06:35,800 --> 00:06:39,360 S1: in the world, household names that you would know, advocating 126 00:06:39,360 --> 00:06:44,360 S1: for religious values, uh, and keeping these, uh, companies focused 127 00:06:44,360 --> 00:06:48,320 S1: on their core business, not getting pulled in all kinds 128 00:06:48,320 --> 00:06:52,599 S1: of directions based on the political winds. And Jerry will 129 00:06:52,600 --> 00:06:54,480 S1: report on that. We'll also get his take on the 130 00:06:54,480 --> 00:06:57,880 S1: economy that's coming up in our final segment today. Again, 131 00:06:57,880 --> 00:07:02,240 S1: questions today at 800 525 7000 will begin taking those 132 00:07:02,240 --> 00:07:04,320 S1: here in just a moment. But first in the news 133 00:07:04,320 --> 00:07:07,520 S1: today a rising college costs and student debt are pushing 134 00:07:07,520 --> 00:07:12,960 S1: more high school graduates toward cheaper, career focused alternatives. A 135 00:07:12,960 --> 00:07:16,840 S1: new report from the National Student Clearinghouse finds growing interest 136 00:07:16,840 --> 00:07:21,080 S1: in two year degrees and short term credential programs, especially 137 00:07:21,080 --> 00:07:26,520 S1: at community colleges. Enrollment in certificate and associate programs rose 138 00:07:26,520 --> 00:07:31,800 S1: about 2% in the fall of 2025, while bachelor's programs 139 00:07:31,800 --> 00:07:37,680 S1: grew less than 1%. Community colleges now enroll about 750,000 140 00:07:37,680 --> 00:07:42,400 S1: students in certificate programs. That's up 28% in four years, 141 00:07:42,440 --> 00:07:47,160 S1: driven largely by affordability and job aligned training, with tuition 142 00:07:47,160 --> 00:07:51,530 S1: at two year schools, averaging about $4,100, compared to nearly 143 00:07:51,570 --> 00:07:55,530 S1: 12,000 at public four year colleges. Many students are looking 144 00:07:55,570 --> 00:08:01,490 S1: to avoid heavy borrowing and uncertain post job prospects. Or 145 00:08:01,490 --> 00:08:06,490 S1: excuse me, post-college job prospects and analysts say the traditional, quote, 146 00:08:06,530 --> 00:08:11,610 S1: safety premium of a bachelor's degree is shrinking as AI 147 00:08:11,730 --> 00:08:17,370 S1: is reshaping hiring and skilled trades are offering stronger earnings. 148 00:08:17,370 --> 00:08:21,610 S1: So new workforce Pell grants are also making short term 149 00:08:21,610 --> 00:08:25,490 S1: training more accessible. That's opening doors for students who couldn't 150 00:08:25,490 --> 00:08:28,210 S1: afford it. Before you put all this together. And these 151 00:08:28,210 --> 00:08:33,130 S1: trends suggest that higher education is shifting toward faster, more 152 00:08:33,130 --> 00:08:37,170 S1: practical pathways tied to a real job on the other end, 153 00:08:37,210 --> 00:08:40,250 S1: for many students, the goal is less about prestige, more 154 00:08:40,250 --> 00:08:44,490 S1: about graduating with skills. And without that overwhelming debt, you 155 00:08:44,490 --> 00:08:49,180 S1: put all of that alongside this demographics cliff, where there 156 00:08:49,179 --> 00:08:53,059 S1: are just less students available for all of these colleges. 157 00:08:53,059 --> 00:08:56,260 S1: And it just creates a real challenge, especially for these 158 00:08:56,540 --> 00:09:00,819 S1: larger universities and many Christian universities that have large campuses. 159 00:09:00,820 --> 00:09:03,740 S1: They have a lot of plant costs and upkeep, with 160 00:09:03,740 --> 00:09:07,580 S1: less students available, more opting for some of these shorter, 161 00:09:07,940 --> 00:09:12,620 S1: more career focused certificates and training programs. It's creating some 162 00:09:12,620 --> 00:09:14,540 S1: real challenges. We'll have to watch and see what all 163 00:09:14,580 --> 00:09:17,180 S1: of that means for college tuition in the days ahead. 164 00:09:17,700 --> 00:09:21,540 S1: And just how students are preparing for the job force 165 00:09:21,540 --> 00:09:24,140 S1: will certainly keep an eye on that. All right. We're 166 00:09:24,140 --> 00:09:25,940 S1: ready to head to the phones today. We've got the 167 00:09:25,940 --> 00:09:28,460 S1: lines filling up, but still some available. If you have 168 00:09:28,460 --> 00:09:33,260 S1: a question call right now 800 525 7000. Let's go 169 00:09:33,260 --> 00:09:37,780 S1: to Saint Louis RC. Thanks for calling. Go right ahead. RC, 170 00:09:37,780 --> 00:09:41,380 S1: are you there? Let's try one more time. RC, can 171 00:09:41,380 --> 00:09:44,179 S1: you hear me? All right, my team will see if 172 00:09:44,179 --> 00:09:46,980 S1: we can get you on the line. I think we're 173 00:09:46,980 --> 00:09:49,380 S1: having some trouble hearing you, but I'd be delighted to 174 00:09:49,420 --> 00:09:52,819 S1: take your question. So you stay right there. You know, 175 00:09:52,860 --> 00:09:57,420 S1: as we think about college and those borrowing costs, uh, 176 00:09:57,420 --> 00:09:59,700 S1: one rule of thumb to think about. I mean, of course, 177 00:09:59,700 --> 00:10:03,420 S1: if you can borrow nothing, that would be ideal. And 178 00:10:03,540 --> 00:10:06,620 S1: don't just accept the fact that, well, I haven't saved enough. 179 00:10:06,620 --> 00:10:11,780 S1: So I've got to borrow, you know, preparing for applying 180 00:10:11,780 --> 00:10:15,900 S1: for scholarships and grants, uh, is key. And it really 181 00:10:15,900 --> 00:10:18,820 S1: is directly tied to the amount of work that you 182 00:10:18,820 --> 00:10:22,180 S1: put in, uh, in terms of what you will ultimately receive. 183 00:10:22,220 --> 00:10:24,580 S1: My wife grew up in a single family home. She 184 00:10:24,580 --> 00:10:27,500 S1: knew that college would have to be paid for, uh, 185 00:10:27,500 --> 00:10:29,660 S1: out of pocket. She was going to have to do it. 186 00:10:29,780 --> 00:10:32,940 S1: And she worked very hard. Uh, she got good grades, 187 00:10:32,940 --> 00:10:36,820 S1: but they also turned her living room into a scholarship 188 00:10:36,860 --> 00:10:40,420 S1: application factory, if you will, and just applied for many, 189 00:10:40,420 --> 00:10:44,069 S1: many scholarships. Well, she got many of those, and she 190 00:10:44,070 --> 00:10:48,989 S1: was able to cover 100% of her education through scholarships 191 00:10:48,990 --> 00:10:53,030 S1: and grants. You know, I did something similar. I also 192 00:10:53,230 --> 00:10:55,990 S1: worked part time on campus. I would. You won't be surprised. 193 00:10:55,990 --> 00:11:00,309 S1: Manage the Christian radio station at my college my senior year, 194 00:11:00,550 --> 00:11:03,630 S1: offset some costs, had some income coming in. I was 195 00:11:03,630 --> 00:11:06,670 S1: a resident assistant that covered my room and board. So, 196 00:11:06,710 --> 00:11:09,150 S1: you know, there are other ways to pay for college. 197 00:11:09,150 --> 00:11:12,750 S1: Let's not just assume that we automatically have to go 198 00:11:13,190 --> 00:11:16,350 S1: out and and borrow. Remember, the average student now graduating 199 00:11:16,350 --> 00:11:19,550 S1: with $37,000 in credit card or not credit card, but 200 00:11:19,550 --> 00:11:22,790 S1: student loan debt. And that just creates a real challenge. 201 00:11:22,910 --> 00:11:25,750 S1: You're starting out in a, you know, as an entry 202 00:11:25,790 --> 00:11:29,870 S1: level worker, often not making as much. We've got affordability challenges. 203 00:11:29,870 --> 00:11:31,750 S1: And then when we have student debt on top of it, 204 00:11:31,790 --> 00:11:34,030 S1: it makes it really challenging. So let's guard against that 205 00:11:34,030 --> 00:11:36,190 S1: if we can. All right. I think we've got RC 206 00:11:36,230 --> 00:11:39,110 S1: ready to go. Saint Louis RC, can you hear me okay. 207 00:11:41,440 --> 00:11:43,840 S1: All right. We will keep working on that and see 208 00:11:43,840 --> 00:11:46,400 S1: if we can get RC. And we will head to 209 00:11:46,440 --> 00:11:49,000 S1: a break here in just a moment as well. Let 210 00:11:49,000 --> 00:11:51,080 S1: me just go ahead and ask this question because the 211 00:11:51,080 --> 00:11:54,360 S1: team has typed it in here. He's 78. He's disabled. 212 00:11:54,360 --> 00:11:57,840 S1: He might need care. He wants to stay in his home. 213 00:11:57,960 --> 00:12:00,720 S1: He's wondering how can he invest to get funds for 214 00:12:00,720 --> 00:12:04,160 S1: assistance should he need it in the future. And RC, 215 00:12:04,240 --> 00:12:06,920 S1: hopefully you're listening. You can hear me. And let me 216 00:12:06,920 --> 00:12:10,800 S1: just say, at age 78, your investment strategy really does 217 00:12:10,800 --> 00:12:14,720 S1: need to prioritize safety and liquidity over growth. We wouldn't 218 00:12:14,720 --> 00:12:17,359 S1: want to have, you know, a market crash or recession 219 00:12:17,360 --> 00:12:20,120 S1: of some kind. Uh, you know, before you need to 220 00:12:20,160 --> 00:12:23,040 S1: hire skilled care, the best place for your funds is 221 00:12:23,040 --> 00:12:27,920 S1: probably a high yield savings account, um, or short term 222 00:12:27,960 --> 00:12:32,040 S1: treasury bills, which offer solid yields and little to no 223 00:12:32,040 --> 00:12:35,480 S1: risk to your principal. This would RC allow you to 224 00:12:35,520 --> 00:12:40,320 S1: withdraw cash instantly when care needs arise And if your 225 00:12:40,320 --> 00:12:43,080 S1: liquid savings are insufficient to cover the high cost of 226 00:12:43,080 --> 00:12:47,559 S1: daily care, you could look to other options. Um, you know, 227 00:12:47,600 --> 00:12:50,240 S1: obviously if you spend everything down, you could look to 228 00:12:50,280 --> 00:12:53,320 S1: Medicaid at that point. If you meet those requirements, if 229 00:12:53,320 --> 00:12:55,839 S1: you're able to stay home and you have equity in 230 00:12:55,840 --> 00:12:59,560 S1: your home. Once you're over 62 and you clearly are, uh, 231 00:12:59,559 --> 00:13:01,920 S1: if you have at least 50% equity, you could look 232 00:13:01,920 --> 00:13:04,880 S1: at a home equity conversion mortgage, commonly known as a 233 00:13:04,880 --> 00:13:09,800 S1: reverse mortgage designed for aging in place, where essentially, you 234 00:13:09,800 --> 00:13:13,920 S1: would systematically draw out that home equity, your home would 235 00:13:13,920 --> 00:13:16,800 S1: continue to appreciate, you would own it, you would live 236 00:13:16,800 --> 00:13:19,920 S1: in it. There would be interest and fees, but the 237 00:13:19,920 --> 00:13:24,040 S1: payment is optional, which makes it possible for somebody in 238 00:13:24,040 --> 00:13:27,200 S1: this season of life to cover that care that you need, 239 00:13:27,200 --> 00:13:31,040 S1: without the assets to be able to tap into. And 240 00:13:31,040 --> 00:13:33,640 S1: therefore you could look to, uh, to the home equity 241 00:13:33,640 --> 00:13:37,000 S1: to do that. It's obviously tax free because it's your 242 00:13:37,000 --> 00:13:39,810 S1: equity and then at your death, or when you move 243 00:13:39,850 --> 00:13:42,530 S1: out and the home is sold, that loan is paid. 244 00:13:42,530 --> 00:13:45,849 S1: And whatever's left could go to your heirs or to charity, 245 00:13:45,850 --> 00:13:48,050 S1: just like if you had a forward mortgage. Big difference 246 00:13:48,050 --> 00:13:51,730 S1: is the payment is always optional, which helps you balance 247 00:13:51,730 --> 00:13:54,130 S1: that budget. So if you want to check that out 248 00:13:54,170 --> 00:14:01,170 S1: or see head to movement, that's movement Mortgage, our longtime partner. 249 00:14:01,410 --> 00:14:04,930 S1: They're believers and they're the best around in the area 250 00:14:04,929 --> 00:14:10,050 S1: of reverse mortgages movement.com/faith RC. Thanks for calling today. Sorry 251 00:14:10,050 --> 00:14:11,890 S1: we couldn't get you on the air. We're back with 252 00:14:11,890 --> 00:14:26,090 S1: more questions right after this break. Stick around. Well, delighted 253 00:14:26,090 --> 00:14:28,370 S1: you're along with us today on Faith and Finance Live. 254 00:14:28,370 --> 00:14:30,650 S1: Let's head right back to the phones, by the way. Uh, 255 00:14:30,650 --> 00:14:33,850 S1: we did, uh, confirm that the phones are working, so 256 00:14:33,850 --> 00:14:35,970 S1: if you tried to call in, uh, we would love 257 00:14:35,970 --> 00:14:37,860 S1: to have you. We do have some lines open. You 258 00:14:37,860 --> 00:14:43,180 S1: can call right now 800 525 7000 to Chicago DK. 259 00:14:43,220 --> 00:14:43,780 S1: Go ahead. 260 00:14:45,180 --> 00:14:49,260 S4: Yes. Uh, Rob, I've heard, uh, a lot of the 261 00:14:49,260 --> 00:14:55,540 S4: secular investment, uh, kind of management, financial management recommendations in, uh, 262 00:14:55,540 --> 00:15:00,620 S4: for retirement funding often recommend maybe 10% in precious metals. 263 00:15:01,060 --> 00:15:03,420 S4: And I was just wondering on your take on that and, 264 00:15:03,660 --> 00:15:05,260 S4: you know, the biblical take on that. 265 00:15:06,180 --> 00:15:09,300 S1: Yeah. Uh, it's a great question. And I would say, 266 00:15:09,340 --> 00:15:12,340 S1: you know, the advice to hold somewhere between 5 and 10% 267 00:15:12,340 --> 00:15:15,100 S1: of your portfolio, I would say ten is certainly that 268 00:15:15,100 --> 00:15:18,460 S1: upper end of the range, uh, in precious metals. So, 269 00:15:18,660 --> 00:15:22,460 S1: you know, typically gold, although maybe gold and silver, uh, 270 00:15:22,460 --> 00:15:26,860 S1: is a common hedge against inflation and currency devaluation. Uh, 271 00:15:26,860 --> 00:15:31,900 S1: not to mention just for appreciation. We've seen dramatic rises 272 00:15:32,020 --> 00:15:36,380 S1: in the last year or so in gold and silver. Um, 273 00:15:36,500 --> 00:15:39,460 S1: you know, the downside is they don't generate any income, 274 00:15:39,460 --> 00:15:41,580 S1: so it's not like there's a yield or a dividend 275 00:15:41,580 --> 00:15:45,740 S1: or anything like that. And there are, you know, premiums 276 00:15:45,740 --> 00:15:48,180 S1: when you buy and sell based on the physical gold 277 00:15:48,180 --> 00:15:51,420 S1: and then you have the storage issues. But, um, I 278 00:15:51,420 --> 00:15:54,860 S1: like gold. I think it's a great, uh, part of 279 00:15:54,900 --> 00:15:59,420 S1: a properly diversified portfolio. I like to think about it, um, 280 00:15:59,620 --> 00:16:04,540 S1: you know, in terms of a, a 5% forever allocation 281 00:16:04,540 --> 00:16:07,060 S1: where you'd maybe take 5% of your portfolio, you'd go 282 00:16:07,060 --> 00:16:09,580 S1: ahead and buy the physical gold, and you just plan 283 00:16:09,580 --> 00:16:11,900 S1: to keep it forever and pass it down. And then 284 00:16:11,900 --> 00:16:14,580 S1: if you want to move beyond the 5% up to 285 00:16:14,580 --> 00:16:18,180 S1: a full 10% allocation, at least one option to consider 286 00:16:18,180 --> 00:16:22,740 S1: would be with that second 5%. Go ahead and look at, uh, 287 00:16:22,740 --> 00:16:26,740 S1: an exchange traded fund. So like GLD or one of 288 00:16:26,740 --> 00:16:30,300 S1: the other uh, exchange traded funds where you're buying it 289 00:16:30,300 --> 00:16:34,350 S1: like a stock, but it moves in lock step with 290 00:16:34,350 --> 00:16:37,510 S1: the spot price. Price of the metal. And there's actual. 291 00:16:37,550 --> 00:16:41,070 S1: Gold in a vault, you know. That's connected to the 292 00:16:41,070 --> 00:16:44,030 S1: outstanding shares of the exchange traded fund. So it's a 293 00:16:44,030 --> 00:16:47,350 S1: way for you to take a position in gold without 294 00:16:47,350 --> 00:16:50,950 S1: having to take that additional 5% and, you know, get 295 00:16:50,950 --> 00:16:53,310 S1: the dealer and store it and secure it and all 296 00:16:53,310 --> 00:16:56,150 S1: those things. And then if you wanted to lighten your 297 00:16:56,270 --> 00:16:59,310 S1: percentage from ten back to five, you just place a 298 00:16:59,310 --> 00:17:02,150 S1: market order and it's gone versus you having to try 299 00:17:02,150 --> 00:17:05,310 S1: to find a buyer for the physical gold. But I 300 00:17:05,310 --> 00:17:08,030 S1: think just generally speaking, that idea that you could consider 301 00:17:08,070 --> 00:17:10,830 S1: going all the way up to 10%, I think is sound. 302 00:17:12,630 --> 00:17:15,390 S4: Okay. Okay. Um, thank you very much. Do you mind 303 00:17:15,390 --> 00:17:18,030 S4: if I run a follow up by you, or do 304 00:17:18,030 --> 00:17:18,630 S4: you need to know? 305 00:17:18,670 --> 00:17:20,070 S1: Go ahead. No, no. That's fine. 306 00:17:21,270 --> 00:17:27,710 S4: Um. So, yeah, as I'm nearing retirement, I'm also, I guess, wanting, 307 00:17:27,750 --> 00:17:29,910 S4: you know, I get the tithe part and we try to, 308 00:17:29,950 --> 00:17:32,710 S4: you know, we give tithes for, I don't know, I 309 00:17:32,710 --> 00:17:37,110 S4: guess many years. But, uh, when your income changes and 310 00:17:37,109 --> 00:17:40,470 S4: you're kind of at your nest egg stage, is that 311 00:17:41,150 --> 00:17:45,030 S4: in it? I mean, I guess biblically, is it just 312 00:17:45,310 --> 00:17:49,550 S4: continue to give 10% of what your, what your nest 313 00:17:49,550 --> 00:17:52,990 S4: egg is or is that is that black and white 314 00:17:53,030 --> 00:17:54,550 S4: from what you see in Scripture? 315 00:17:54,990 --> 00:17:57,870 S1: Yeah. Uh, it's a great question. And I think, you know, 316 00:17:57,910 --> 00:18:00,670 S1: it always requires that we go back to the tithe 317 00:18:00,830 --> 00:18:02,910 S1: and look at the the role of the tithe in 318 00:18:02,910 --> 00:18:05,470 S1: the first place. And in fact, we did a deep 319 00:18:05,470 --> 00:18:09,030 S1: dive on this in issue three of our Faithful Steward magazine. 320 00:18:09,030 --> 00:18:11,629 S1: So when we're done here today, um, I'll have the 321 00:18:11,630 --> 00:18:13,870 S1: team get your information. We'll send you a copy where 322 00:18:13,869 --> 00:18:16,150 S1: we just kind of look at the the idea of 323 00:18:16,150 --> 00:18:19,230 S1: the tithe and all of the different instances of the 324 00:18:19,230 --> 00:18:23,630 S1: tithe in the Old and New Testament. Um, what's interesting 325 00:18:23,630 --> 00:18:27,070 S1: is in the, the New Testament, in all the core 326 00:18:27,109 --> 00:18:31,920 S1: teachings on money, and we cite all of them. There's 327 00:18:31,920 --> 00:18:35,040 S1: really not any mentions of the tithe. Uh, now it 328 00:18:35,040 --> 00:18:37,480 S1: is mentioned four times in the New Testament, and each 329 00:18:37,480 --> 00:18:40,879 S1: time it's a side note and a conversation about something else. 330 00:18:41,240 --> 00:18:45,320 S1: And that may be surprising given that stewardship teaching is 331 00:18:45,320 --> 00:18:49,680 S1: often centered on tithing. But I do think that giving 10% 332 00:18:49,680 --> 00:18:53,040 S1: is still a helpful way to to really step into faithful, 333 00:18:53,040 --> 00:18:56,919 S1: consistent generosity. But I think there's much more to the 334 00:18:56,920 --> 00:19:01,520 S1: picture of New Testament stewardship. You know, we're really encouraged 335 00:19:01,520 --> 00:19:05,600 S1: to evaluate our heart postures rather than a specific set 336 00:19:05,600 --> 00:19:08,880 S1: of rules. You know, like we saw in the old 337 00:19:08,880 --> 00:19:12,320 S1: covenant of the Mosaic Law. Um, and so I think 338 00:19:12,359 --> 00:19:15,760 S1: as you explore that, you know, what you'll find is that, 339 00:19:15,800 --> 00:19:18,240 S1: you know, giving is to be a response to God's grace, 340 00:19:18,280 --> 00:19:23,720 S1: feeling freely and joyfully given consistently, proportionately to what God 341 00:19:23,720 --> 00:19:26,040 S1: has provided for you. And if you want to use 342 00:19:26,040 --> 00:19:29,050 S1: a tithe, as in a 10th of your increase as 343 00:19:29,050 --> 00:19:31,490 S1: a starting point. Great. But I think it's just that 344 00:19:31,490 --> 00:19:34,450 S1: it's a beginning point. Now to your point. You know, 345 00:19:34,490 --> 00:19:37,570 S1: once you if you've tithed on the gross, you know, 346 00:19:37,609 --> 00:19:41,210 S1: all your working years, much of what you're then distributing 347 00:19:41,210 --> 00:19:45,050 S1: back to yourself is what you paid in. And and 348 00:19:45,050 --> 00:19:47,650 S1: so I think you could acknowledge that and say, okay, 349 00:19:47,930 --> 00:19:50,850 S1: each time I take, let's say, a distribution from my IRA, 350 00:19:51,210 --> 00:19:53,290 S1: a portion of that is a return of capital. A 351 00:19:53,290 --> 00:19:56,810 S1: portion of that, you know, is appreciation. And you could 352 00:19:56,810 --> 00:19:59,170 S1: try to back into what that is. Maybe you say, 353 00:19:59,170 --> 00:20:02,409 S1: rather than tithing on the full amount, I'm going to 354 00:20:02,410 --> 00:20:04,530 S1: tithe on half of it. And you might do the 355 00:20:04,530 --> 00:20:07,050 S1: same thing with Social Security, because if you live a 356 00:20:07,050 --> 00:20:10,250 S1: full life expectancy, you know, there's some sort of growth 357 00:20:10,250 --> 00:20:14,050 S1: component over and above what you paid in through your 358 00:20:14,050 --> 00:20:16,490 S1: portion of the FICA taxes. Now, keep in mind half 359 00:20:16,490 --> 00:20:18,570 S1: of what went into Social Security. If you were a 360 00:20:18,609 --> 00:20:22,450 S1: W-2 employee, went in, you know, from your employer and 361 00:20:22,450 --> 00:20:25,690 S1: not you unless you were self-employed and you paid both sides. 362 00:20:25,690 --> 00:20:29,050 S1: But again, you know, I think you could apply that 50% 363 00:20:29,050 --> 00:20:31,250 S1: rule and just say, okay, half of what it comes 364 00:20:31,250 --> 00:20:34,409 S1: out in the form of a benefit check is a 365 00:20:34,410 --> 00:20:37,170 S1: return of what I've already, you know, paid in through 366 00:20:37,210 --> 00:20:40,210 S1: FICA taxes and tithed on. And half of it is 367 00:20:40,210 --> 00:20:43,889 S1: either my employer and or some sort of growth component 368 00:20:44,050 --> 00:20:46,570 S1: that that is in there. Um, so I think that 369 00:20:46,570 --> 00:20:49,610 S1: would be, you know, perfectly appropriate. But again, I would 370 00:20:49,609 --> 00:20:52,570 S1: come down to I think it's a hard posture. First 371 00:20:52,570 --> 00:20:55,930 S1: and foremost, God is not an accountant. Um, and I 372 00:20:55,930 --> 00:20:58,929 S1: think we look at the tithe is a great starting point, 373 00:20:59,090 --> 00:21:01,449 S1: but then we look to give beyond that as the 374 00:21:01,450 --> 00:21:03,690 S1: Lord blesses you. And at the end of the day, 375 00:21:03,690 --> 00:21:07,250 S1: it's really the heart behind the gift that you're cheerful, 376 00:21:07,250 --> 00:21:11,690 S1: not reluctant, not under compulsion, just as an overflow of 377 00:21:11,690 --> 00:21:15,010 S1: gratitude toward the grace that has been extended to you 378 00:21:15,010 --> 00:21:16,410 S1: and to me. Does that make sense? 379 00:21:17,530 --> 00:21:20,970 S4: Yeah. No. It's great. And it's a it's a good guideline, 380 00:21:21,570 --> 00:21:25,300 S4: kind of like have a tithe as a base, but 381 00:21:25,580 --> 00:21:31,179 S4: oftentimes part or blessing makes that available to be increased. So. 382 00:21:31,500 --> 00:21:34,020 S4: Thank you. Appreciate your, uh, your input. 383 00:21:34,380 --> 00:21:36,659 S1: Absolutely. DK stay on the line. My team will get 384 00:21:36,660 --> 00:21:39,820 S1: your information. We're going to send you issue three of 385 00:21:39,820 --> 00:21:43,020 S1: Faithful Steward. I think you'll enjoy it. We appreciate your call. 386 00:21:43,020 --> 00:21:57,260 S1: We'll be right back with much more stick around. Great 387 00:21:57,260 --> 00:21:59,419 S1: to have you with us today on Faith and Finance Live. 388 00:21:59,420 --> 00:22:02,540 S1: Coming up in the final segment today, Jerry Boyer stops by. 389 00:22:02,540 --> 00:22:06,340 S1: We'll get to Jerry's update on some incredible progress they've 390 00:22:06,340 --> 00:22:09,940 S1: made in the area of corporate engagement, engaging with on 391 00:22:09,940 --> 00:22:14,220 S1: behalf of shareholders, some of the biggest corporations in the world, 392 00:22:14,220 --> 00:22:18,140 S1: household names you would recognize and seeing them respond to 393 00:22:18,180 --> 00:22:23,340 S1: requests to think about how they're approaching religious values and 394 00:22:23,430 --> 00:22:26,710 S1: whether or not they're marginalizing those who represent the faith 395 00:22:26,710 --> 00:22:29,590 S1: community and whether they've gotten pulled away from their core 396 00:22:29,590 --> 00:22:32,750 S1: business to focus on social or political issues that have 397 00:22:32,750 --> 00:22:35,229 S1: nothing to do with the business. Jerry will give us 398 00:22:35,230 --> 00:22:38,430 S1: a report straight ahead. In the meantime, we're taking your 399 00:22:38,430 --> 00:22:43,510 S1: calls and questions today. That number is 800 525 7000. 400 00:22:43,550 --> 00:22:46,270 S1: Let's go to Indianapolis. Angel, how can I help? 401 00:22:47,350 --> 00:22:50,910 S5: Hi. I was a caregiver for my mom for 11 years. 402 00:22:51,910 --> 00:22:53,990 S5: She passed away about a year and a half ago. 403 00:22:54,310 --> 00:22:59,230 S5: In the process, I accumulated about $15,000 in debt. Since then, 404 00:22:59,230 --> 00:23:02,869 S5: I was trying to recover from that, and I lost 405 00:23:02,869 --> 00:23:05,990 S5: my job over the summer and have now just been 406 00:23:05,990 --> 00:23:09,870 S5: dealing with an eviction. As I start this new budget 407 00:23:10,310 --> 00:23:14,470 S5: and I'm trying to figure out what what should my 408 00:23:14,470 --> 00:23:17,470 S5: focus be? I have no 401 K. I'm almost 50 409 00:23:17,510 --> 00:23:22,070 S5: years old. I have no savings. I have, um, Obviously 410 00:23:22,070 --> 00:23:25,630 S5: this new debt is in addition to this very old debt. 411 00:23:25,630 --> 00:23:27,830 S5: And I just I don't know what my focus should 412 00:23:27,830 --> 00:23:29,430 S5: be as I'm starting over. 413 00:23:29,830 --> 00:23:33,550 S1: Yeah. Well, Angel, I know this is a difficult spot 414 00:23:33,550 --> 00:23:35,590 S1: that you're in and you feel the weight of that. 415 00:23:35,630 --> 00:23:37,990 S1: Let me just affirm, though, what you did there as 416 00:23:37,990 --> 00:23:41,629 S1: you cared for your mom. Uh, I'm so thrilled to 417 00:23:41,670 --> 00:23:44,630 S1: hear that you did what honors the Lord and and 418 00:23:44,630 --> 00:23:47,990 S1: served her in that season. And I know that there's 419 00:23:47,990 --> 00:23:52,270 S1: some fallout to that financially, but I'm confident that you 420 00:23:52,270 --> 00:23:54,470 S1: know that. Please, the Lord, what you did there. And 421 00:23:54,470 --> 00:23:56,350 S1: I just want to be an encouragement to you there. 422 00:23:56,670 --> 00:23:59,590 S1: I think the immediate goal here is really to stabilize 423 00:23:59,630 --> 00:24:03,350 S1: first and then rebuild. So, you know, let's just focus 424 00:24:03,350 --> 00:24:06,510 S1: for the next 30 or 60 days on your immediate priorities, 425 00:24:06,670 --> 00:24:11,430 S1: which would be first housing, uh, and safety. So moving 426 00:24:11,430 --> 00:24:12,909 S1: in with a friend I think is a is a 427 00:24:12,910 --> 00:24:16,430 S1: great move. Keeping housing costs as low as possible I 428 00:24:16,430 --> 00:24:19,909 S1: think set clear expectations just as that's going to be 429 00:24:19,910 --> 00:24:23,720 S1: new to perhaps both of you. Um, but that's first 430 00:24:23,720 --> 00:24:26,840 S1: and foremost. And then I think, you know, beyond that, 431 00:24:26,880 --> 00:24:29,800 S1: even before budgeting, we just want to stop things from 432 00:24:29,800 --> 00:24:32,720 S1: getting worse. So, you know, we need to try to 433 00:24:32,760 --> 00:24:35,960 S1: to the extent, uh, you know, you can find employment. 434 00:24:35,960 --> 00:24:39,119 S1: And while you're waiting, I would call your creditors. Lean 435 00:24:39,119 --> 00:24:41,560 S1: into them. Don't run away from them or ignore them. 436 00:24:41,800 --> 00:24:45,960 S1: See if they can provide temporary forbearance. Reduced minimums. Tell 437 00:24:45,960 --> 00:24:48,840 S1: them exactly what's going on and that you've lost your 438 00:24:48,840 --> 00:24:52,119 S1: job and you're seeking new employment. And, you know, avoid 439 00:24:52,119 --> 00:24:55,600 S1: new debt at all costs. But this is really about 440 00:24:55,600 --> 00:24:58,600 S1: just buying time so that you can get employed. And 441 00:24:58,600 --> 00:25:02,720 S1: then if we can, with your reduced housing, keeping expenses 442 00:25:02,720 --> 00:25:04,879 S1: to the bare minimum. And this is really, you know, 443 00:25:04,920 --> 00:25:07,239 S1: what I would call a mayday budget, where, you know, 444 00:25:07,280 --> 00:25:09,239 S1: we keep the utilities on, we keep gas in the 445 00:25:09,240 --> 00:25:11,560 S1: car to get to work or find a job. We 446 00:25:11,600 --> 00:25:13,720 S1: keep a roof over your head, we keep food on 447 00:25:13,720 --> 00:25:17,000 S1: the table, and everything else is negotiable at that point. Um, 448 00:25:17,280 --> 00:25:19,609 S1: and then right after that is, you know, keeping the 449 00:25:19,609 --> 00:25:23,450 S1: debts current just so we can avoid any additional expenses 450 00:25:23,450 --> 00:25:26,770 S1: on fees or a judgment of some kind that would 451 00:25:26,770 --> 00:25:31,330 S1: just create more challenges. Um, obviously your top financial priority 452 00:25:31,330 --> 00:25:33,449 S1: needs to be your job search. I mean, that is 453 00:25:33,450 --> 00:25:38,010 S1: your full time job. Um, because we need income. And, 454 00:25:38,050 --> 00:25:41,650 S1: you know, if you take temporary or interim work, prioritize 455 00:25:41,650 --> 00:25:46,090 S1: reliable hours, health benefits as if possible, and avoid kind 456 00:25:46,090 --> 00:25:49,050 S1: of waiting for that perfect job because we need cash 457 00:25:49,050 --> 00:25:53,050 S1: flow to restore control. And then once you're, you know, 458 00:25:53,090 --> 00:25:56,850 S1: back employed and you know, we're we're getting the debt 459 00:25:56,850 --> 00:25:59,850 S1: on track, then I would say let's start an emergency 460 00:25:59,850 --> 00:26:03,290 S1: fund even while you still have debt and, you know, 461 00:26:03,330 --> 00:26:07,970 S1: even 25 or $50 a paycheck going into, you know, 462 00:26:08,010 --> 00:26:12,130 S1: some sort of savings account. Um, because without that, every 463 00:26:12,170 --> 00:26:15,330 S1: setback creates more debt. And so we want that even 464 00:26:15,330 --> 00:26:19,290 S1: smallest of buffers That's going to reduce anxiety for you 465 00:26:19,609 --> 00:26:23,330 S1: and and prevent future borrowing. And then I think once 466 00:26:23,330 --> 00:26:25,929 S1: we get to that point now we're starting to build 467 00:26:26,130 --> 00:26:28,890 S1: what I'll call a bare bones budget, where we move 468 00:26:28,930 --> 00:26:32,170 S1: beyond just the essentials and start to look at, you know, 469 00:26:32,210 --> 00:26:36,369 S1: phone and internet and, you know, those types of things. Um, 470 00:26:36,530 --> 00:26:39,250 S1: that would be beyond that. And then, you know, I 471 00:26:39,250 --> 00:26:42,970 S1: would probably be contacting our friends at Christian Credit Counselors 472 00:26:42,970 --> 00:26:46,129 S1: when you're ready and you've got stable income, Christian credit 473 00:26:46,130 --> 00:26:49,890 S1: counselors to put you in a credit counseling program. So 474 00:26:49,930 --> 00:26:51,969 S1: I know that's a lot, but those would be the 475 00:26:51,970 --> 00:26:54,810 S1: things that I'm thinking about for you. And here's what 476 00:26:54,810 --> 00:26:58,210 S1: I'd like to offer is, um, one of our certified 477 00:26:58,210 --> 00:27:01,449 S1: Christian financial counselors to come alongside you just to be 478 00:27:01,450 --> 00:27:03,370 S1: an encouragement to you, to pray with you, to help 479 00:27:03,369 --> 00:27:06,770 S1: you prioritize how to handle this, give you some strategies 480 00:27:06,770 --> 00:27:10,450 S1: on how you contact your creditors and when the time 481 00:27:10,450 --> 00:27:12,450 S1: is right. They can help you set up that budget 482 00:27:12,450 --> 00:27:16,379 S1: and even make decisions on you know, what comes first? Um, 483 00:27:16,380 --> 00:27:18,060 S1: there won't be any cost to that. We're going to 484 00:27:18,100 --> 00:27:21,620 S1: pay for it. So they'll meet with you several times virtually. 485 00:27:21,940 --> 00:27:23,780 S1: But I think that will be a key step in 486 00:27:23,780 --> 00:27:27,100 S1: just making you feel like you've got somebody to bounce 487 00:27:27,100 --> 00:27:29,700 S1: ideas off of. Somebody that's kind of in the boat, 488 00:27:29,700 --> 00:27:32,020 S1: walking with you so you don't feel all alone. Does 489 00:27:32,020 --> 00:27:32,780 S1: that make sense? 490 00:27:33,260 --> 00:27:37,140 S5: Yeah. And thank you very much. Because trying to prioritize 491 00:27:37,140 --> 00:27:39,619 S5: when everything feels so overwhelming is difficult. 492 00:27:39,619 --> 00:27:40,300 S1: So yeah. 493 00:27:40,340 --> 00:27:42,060 S5: I really appreciate that guidance. 494 00:27:42,420 --> 00:27:44,540 S1: Oh, I'm happy to. So listen stay on the line. 495 00:27:44,540 --> 00:27:46,620 S1: My team's going to get your information. We'll get a 496 00:27:46,619 --> 00:27:49,700 S1: certified Christian financial counselor in touch with you. There will 497 00:27:49,700 --> 00:27:52,859 S1: be no cost to you. And that person will contact 498 00:27:52,859 --> 00:27:55,100 S1: you and and start, uh, you know, getting you set 499 00:27:55,100 --> 00:27:57,179 S1: up with the first few meetings and let's see if 500 00:27:57,180 --> 00:27:58,900 S1: we can get you on the right track. And we'll 501 00:27:58,900 --> 00:28:02,540 S1: certainly be praying that the Lord provides that job very, 502 00:28:02,540 --> 00:28:05,580 S1: very soon, if not immediately. So thanks for your call today. 503 00:28:05,580 --> 00:28:08,140 S1: Lord bless you. Uh, let's go to Minnesota. Hi, Kevin. 504 00:28:08,140 --> 00:28:08,899 S1: How can I help? 505 00:28:10,580 --> 00:28:13,300 S6: Uh, question. So, uh, my wife and I were newly 506 00:28:13,380 --> 00:28:18,100 S6: married and we're going, we're going to be, um, choosing 507 00:28:18,100 --> 00:28:19,699 S6: for a job. And I'm retired and we're going full 508 00:28:19,740 --> 00:28:21,780 S6: time RVing just to spread the good news about Jesus 509 00:28:21,780 --> 00:28:23,100 S6: and do some disaster relief. 510 00:28:23,420 --> 00:28:23,900 S1: Oh, cool. 511 00:28:24,580 --> 00:28:26,700 S6: We're going to yeah. So we're going to pay bills 512 00:28:26,859 --> 00:28:29,940 S6: out of our budget. Uh, out of our my what 513 00:28:29,940 --> 00:28:33,620 S6: I get for for retirement income. Um, and what's, what's 514 00:28:33,660 --> 00:28:36,420 S6: left for our spending? Um, we're trying to figure out. 515 00:28:36,420 --> 00:28:40,900 S6: She wants to know what's the best way to, um, 516 00:28:40,980 --> 00:28:43,180 S6: take what's what we want to have for spending, you know, 517 00:28:43,180 --> 00:28:45,500 S6: for just, like, whatever spending we want to do, should 518 00:28:45,500 --> 00:28:46,940 S6: we take it out in cash and just give it 519 00:28:46,940 --> 00:28:48,580 S6: up between the two of us? When it's gone, it's gone. 520 00:28:48,580 --> 00:28:52,380 S6: Or should we use credit card or debit card or 521 00:28:52,420 --> 00:28:53,460 S6: what do you recommend? 522 00:28:53,780 --> 00:28:57,100 S1: Yeah, yeah. I mean, it's less about the mechanics and 523 00:28:57,100 --> 00:28:59,620 S1: more about just making sure you've got a good plan 524 00:28:59,620 --> 00:29:02,900 S1: and you're not spending beyond your means. Um, but I think, 525 00:29:02,940 --> 00:29:05,860 S1: you know, as long as all the spending, even that spending, 526 00:29:05,860 --> 00:29:09,580 S1: that's maybe more discretionary, just as things come and you might, 527 00:29:09,620 --> 00:29:11,620 S1: you know, run into an antique store or see something 528 00:29:11,620 --> 00:29:15,070 S1: you want. Or, you know, want to do something fun, unexpected. 529 00:29:15,070 --> 00:29:17,830 S1: I would just say, you know, let's build that into 530 00:29:17,830 --> 00:29:20,270 S1: the plan and make sure we account for that. And 531 00:29:20,270 --> 00:29:22,990 S1: then in terms of, you know, the actual mechanics of 532 00:29:22,990 --> 00:29:26,630 S1: the payments, I like credit cards as the primary tool 533 00:29:26,630 --> 00:29:28,750 S1: that's going to give you fraud protection, which is huge. 534 00:29:28,750 --> 00:29:32,230 S1: When you're traveling, it's easier, you know, to track for 535 00:29:32,230 --> 00:29:35,030 S1: your budget. You get the rewards or the cash back. 536 00:29:35,070 --> 00:29:38,790 S1: You don't have to carry large amounts of cash, but 537 00:29:38,790 --> 00:29:40,630 S1: the key is that you pay the balance in full 538 00:29:40,630 --> 00:29:43,830 S1: and you're using these things for budgeted items, and then 539 00:29:43,830 --> 00:29:48,070 S1: you'd want to carry some cash for campgrounds or small 540 00:29:48,070 --> 00:29:51,870 S1: towns or tips or emergency situations. So I'd have a 541 00:29:51,870 --> 00:29:55,910 S1: fixed monthly cash amount that you refill once per month. 542 00:29:56,070 --> 00:30:00,350 S1: Treat that as already spent in the budget. Um, and then, 543 00:30:00,390 --> 00:30:02,630 S1: you know, use the, uh, the credit cards for all 544 00:30:02,670 --> 00:30:06,550 S1: of the, the other spending where possible. Does that make sense? 545 00:30:07,710 --> 00:30:08,469 S4: It does. Yeah. 546 00:30:08,630 --> 00:30:10,720 S6: I like the protection about the credit card. 547 00:30:10,760 --> 00:30:14,440 S1: So yeah, that's that's really helpful. Absolutely. Kevin, it sounds 548 00:30:14,440 --> 00:30:17,960 S1: like a delightful experience. I'm sure you guys are looking 549 00:30:17,960 --> 00:30:20,680 S1: forward to that. And, uh, you guys will have a 550 00:30:20,680 --> 00:30:22,800 S1: blast out there. Be careful. And if we can help 551 00:30:22,800 --> 00:30:26,000 S1: along the way, don't hesitate to call. Lord bless you. Well, 552 00:30:26,000 --> 00:30:28,080 S1: we're going to take a break. Uh, when we come back, 553 00:30:28,080 --> 00:30:31,240 S1: Jerry Boyer will be here. Also, we'll talk to Julie 554 00:30:31,240 --> 00:30:34,120 S1: in Indiana. She's wanting to know if, uh, she can 555 00:30:34,120 --> 00:30:38,000 S1: use a donor advised fund as the recipient of some 556 00:30:38,000 --> 00:30:42,000 S1: required minimum distributions from a retirement account. Great question. We'll 557 00:30:42,000 --> 00:30:55,800 S1: be right back. Stay with us. Helping you apply God's 558 00:30:55,800 --> 00:30:59,240 S1: wisdom to your financial decisions. This is faith in finance. Live. 559 00:30:59,240 --> 00:31:02,000 S1: I'm Rob West. In just a moment. Jerry Boyer stops by. 560 00:31:02,040 --> 00:31:04,360 S1: Jerry's had some. Jerry and his team have had some 561 00:31:04,360 --> 00:31:07,200 S1: really great success here in the early part of the year, 562 00:31:07,320 --> 00:31:10,000 S1: with some of the biggest names in corporate America as 563 00:31:10,000 --> 00:31:13,240 S1: they engage around religious values. We'll give you an update 564 00:31:13,240 --> 00:31:16,240 S1: on that straight ahead. But first, Julie's been waiting patiently 565 00:31:16,440 --> 00:31:18,080 S1: in Indiana. Julie go ahead. 566 00:31:19,080 --> 00:31:21,400 S7: Hi, Rob. It's great to talk to you today. Thanks 567 00:31:21,400 --> 00:31:22,560 S7: for taking my call. 568 00:31:22,680 --> 00:31:24,840 S8: Of course, I have a I have a question. 569 00:31:24,840 --> 00:31:30,560 S7: About, um, donor advised funds and minimum required distributions. And 570 00:31:30,560 --> 00:31:33,920 S7: I'm wondering if the donor advised fund can be used 571 00:31:33,920 --> 00:31:37,760 S7: to receive funds that are required to be taken from 572 00:31:37,800 --> 00:31:39,960 S7: an IRA or a 401 K? 573 00:31:40,800 --> 00:31:47,440 S1: Yeah, unfortunately not. The IRS specifically excludes donor advised funds 574 00:31:47,440 --> 00:31:51,360 S1: from receiving what are called qualified charitable distributions, which is 575 00:31:51,360 --> 00:31:56,000 S1: where you take money out after 70.5, going not from 576 00:31:56,000 --> 00:31:59,280 S1: a 401 K, but directly from an IRA. It has 577 00:31:59,280 --> 00:32:03,000 S1: to go to what they call an operating charity. So, 578 00:32:03,320 --> 00:32:06,360 S1: you know, a 500 1C3 ministry, a church, a hospital, 579 00:32:06,400 --> 00:32:10,570 S1: a food bank, and other ministry. Um, in order to count. 580 00:32:10,730 --> 00:32:13,410 S1: So you would have to just take a regular distribution 581 00:32:13,410 --> 00:32:15,890 S1: and then make a contribution to your donor advised fund, 582 00:32:15,890 --> 00:32:19,370 S1: at which point you'd get a charitable deduction for that. 583 00:32:19,370 --> 00:32:22,450 S1: But you can't do the qualified charitable distribution where you 584 00:32:22,450 --> 00:32:25,410 S1: just exclude it from your income altogether. 585 00:32:26,450 --> 00:32:30,050 S7: Okay. And at what age does the minimum required distribution 586 00:32:30,050 --> 00:32:30,730 S7: kick in? 587 00:32:31,610 --> 00:32:35,050 S1: At 73 is the current age okay. 588 00:32:35,090 --> 00:32:39,090 S7: So the year that you turned 73 on that tax year. 589 00:32:40,370 --> 00:32:44,330 S1: Yeah. What is your age right now I'm 72. 590 00:32:44,570 --> 00:32:46,210 S7: My birthday is in October. 591 00:32:46,650 --> 00:32:50,890 S1: Yeah. Okay. Yeah. So you have to take, uh, your 592 00:32:51,170 --> 00:32:57,250 S1: first required minimum by April 1st of the year, following 593 00:32:57,530 --> 00:33:00,650 S1: the year you turned 73. And then if you wait 594 00:33:00,650 --> 00:33:02,850 S1: all the way until April 1st, you would take a 595 00:33:02,850 --> 00:33:05,700 S1: second one that year. Because moving forward, it has to 596 00:33:05,700 --> 00:33:08,980 S1: be by December 31st of each year. So you could 597 00:33:08,980 --> 00:33:11,700 S1: take the first one for the year. You turn 73 598 00:33:11,700 --> 00:33:15,180 S1: by April 1st of the following year, and then that 599 00:33:15,220 --> 00:33:18,380 S1: year's required minimum would be by December 31st and each 600 00:33:18,380 --> 00:33:20,140 S1: December 31st thereafter. 601 00:33:20,820 --> 00:33:24,380 S7: Okay. But I could take it before April. 602 00:33:24,820 --> 00:33:26,260 S1: You could. Aha! Absolutely. 603 00:33:26,300 --> 00:33:29,860 S7: The first one. Okay. Yep. Okay. Yep. Okay. Thank you. 604 00:33:29,900 --> 00:33:31,100 S7: I appreciate your help. 605 00:33:31,340 --> 00:33:34,140 S1: You are welcome. Thanks for your call today. Lord bless you. Well, 606 00:33:34,180 --> 00:33:37,580 S1: Jerry Boyer's here. Jerry's our resident economist. And, Jerry, you 607 00:33:37,580 --> 00:33:40,660 S1: and I were chatting earlier today, and you were saying, uh, 608 00:33:40,660 --> 00:33:43,340 S1: you all are having some incredible success as of late 609 00:33:43,340 --> 00:33:46,260 S1: as you engage with these major corporations. Huh? 610 00:33:46,620 --> 00:33:48,660 S9: Yeah, we really are. But I just have to stop 611 00:33:48,660 --> 00:33:50,380 S9: here for a moment. Did you. Did you just ask 612 00:33:50,380 --> 00:33:51,620 S9: Julie how old she is? 613 00:33:53,540 --> 00:33:57,060 S1: You know, it's it's part of my line of work here, Jerry. 614 00:33:57,180 --> 00:33:58,540 S1: I mean, it's like a doctor. 615 00:33:58,540 --> 00:33:58,740 S9: Kind. 616 00:33:58,740 --> 00:34:03,220 S1: Of thing. Yeah, yeah. There's exclusions for doctors and radio hosts. 617 00:34:04,820 --> 00:34:06,780 S9: I mean, maybe just a little coaching here. Like you 618 00:34:06,780 --> 00:34:09,299 S9: say something like, imagine that a woman is, say, 72 619 00:34:09,300 --> 00:34:13,580 S9: years old. Not saying that about, you know, Julie, I 620 00:34:13,580 --> 00:34:17,020 S9: don't know your age. Um, just just a little. I'm 621 00:34:17,060 --> 00:34:19,140 S9: giving you a little life experience here. 622 00:34:19,180 --> 00:34:22,500 S1: Yeah, well, economists are not allowed to ask people their age, 623 00:34:22,500 --> 00:34:24,420 S1: so don't go around doing that. All right? 624 00:34:24,420 --> 00:34:27,420 S9: I won't do that. Um, but it's interesting you were 625 00:34:27,420 --> 00:34:32,140 S9: talking about, you know, um, Christian charities and giving to them, um, and, 626 00:34:32,180 --> 00:34:34,980 S9: you know, giving to churches, etc., that are 501 C3 627 00:34:35,020 --> 00:34:40,020 S9: because it's, it's it's actually pretty common for corporations to 628 00:34:40,020 --> 00:34:43,980 S9: have charitable match programs where if you're an employee of 629 00:34:44,020 --> 00:34:46,940 S9: the of the company, you can give a charitable gift 630 00:34:47,140 --> 00:34:49,859 S9: and the corporation will match it because they're saying they 631 00:34:49,860 --> 00:34:52,299 S9: want people to be generous, which that's a good thing, 632 00:34:52,300 --> 00:34:55,380 S9: that they want to they want people to be generous. Sure. Um, 633 00:34:55,380 --> 00:34:58,740 S9: but it is actually fairly common for the companies to say, 634 00:34:58,780 --> 00:35:04,629 S9: except if it's a religious institution. Are we? That's we 635 00:35:04,670 --> 00:35:08,910 S9: are not encouraging that kind of generosity right now. They 636 00:35:08,910 --> 00:35:12,549 S9: might do if there's something like a soup kitchen that, um, 637 00:35:12,590 --> 00:35:14,910 S9: that was started by a church, but it's like legally 638 00:35:14,910 --> 00:35:17,750 S9: separate and financially separate. They might do some some don't 639 00:35:17,750 --> 00:35:21,310 S9: do that and some do, but it's pretty common if 640 00:35:21,310 --> 00:35:24,069 S9: it's a religious institution, if it's a seminary, if it's 641 00:35:24,070 --> 00:35:27,350 S9: a Bible college, if it's a church, if it's a synagogue, um, 642 00:35:27,390 --> 00:35:29,870 S9: they won't match to it. And we've been engaging on 643 00:35:29,910 --> 00:35:33,590 S9: that topic a lot, and it's just fascinating to see 644 00:35:33,630 --> 00:35:37,670 S9: how they arrived at that conclusion and why they do that. And, um, 645 00:35:37,670 --> 00:35:40,590 S9: you know, we've been having ongoing conversations with a, you know, 646 00:35:40,630 --> 00:35:42,750 S9: a number of companies. One of them is a bank. 647 00:35:42,790 --> 00:35:45,950 S9: I'm not I don't use names yet until things are public. Um, 648 00:35:46,430 --> 00:35:48,589 S9: you know, pretty large regional bank with a lot with 649 00:35:48,590 --> 00:35:51,590 S9: a lot of Christian customers. And in the South, um, 650 00:35:51,830 --> 00:35:53,710 S9: you know, with a large footprint in the South. And 651 00:35:53,750 --> 00:35:55,950 S9: they said that, um, you know, they don't do that. 652 00:35:55,950 --> 00:35:57,950 S9: And we asked why, and they said, well, because we'll 653 00:35:57,950 --> 00:36:00,799 S9: be audited by the IRS. And I said, why would 654 00:36:00,800 --> 00:36:02,480 S9: you be audited by the IRS? And they said, well, 655 00:36:02,480 --> 00:36:05,680 S9: they make a distinction between, you know, different 501 C3 656 00:36:05,719 --> 00:36:08,400 S9: ones that are religious and purpose and ones that are not. 657 00:36:08,719 --> 00:36:11,120 S9: And I said, look, I'm a tax accountant. I've never 658 00:36:11,120 --> 00:36:14,440 S9: heard of that in my whole 40 years. Yeah, that 659 00:36:14,520 --> 00:36:19,719 S9: 500 1C3 churches are 501 C3 and donations to them 660 00:36:19,719 --> 00:36:23,759 S9: are tax deductible period. Um, and we asked them, can 661 00:36:23,760 --> 00:36:25,520 S9: you tell us what part of the code says that 662 00:36:25,520 --> 00:36:27,800 S9: or whatever? And they said, well, we think this engagement 663 00:36:27,800 --> 00:36:30,880 S9: is over at this point. It's like, um, because so 664 00:36:30,920 --> 00:36:36,040 S9: there's this bias sometimes they'll say because it's controversial or divisive, uh, 665 00:36:36,040 --> 00:36:39,040 S9: to give to religious institutions. And then, you know, our 666 00:36:39,040 --> 00:36:42,080 S9: argument is, well, wait a minute, isn't it divisive to 667 00:36:42,120 --> 00:36:45,719 S9: exclude them? Yeah. So you're saying you don't want to 668 00:36:45,719 --> 00:36:48,000 S9: say we don't want to discriminate between different religious groups? 669 00:36:48,040 --> 00:36:49,880 S9: It's like, well, you don't have to. You can just 670 00:36:50,080 --> 00:36:52,839 S9: you can match to all of them. Um, so you're 671 00:36:52,840 --> 00:36:57,000 S9: going to discriminate against all religious groups so as not 672 00:36:57,000 --> 00:37:02,080 S9: to appear discriminatory. It's amazing how much the secular mindset, uh, 673 00:37:02,080 --> 00:37:06,520 S9: treats religion as this incredibly risky, almost like weird category 674 00:37:06,520 --> 00:37:09,819 S9: for people. Now, I just had a conversation just two 675 00:37:09,820 --> 00:37:12,200 S9: hours ago with one of the largest financial institutions in 676 00:37:12,200 --> 00:37:14,879 S9: the world about this, and they said, we're working on it. 677 00:37:14,880 --> 00:37:16,000 S9: You're going to we're going to get back to you 678 00:37:16,000 --> 00:37:17,279 S9: in a couple of weeks, and you're going to love 679 00:37:17,280 --> 00:37:20,279 S9: our answer. So what we're seeing is a lot of 680 00:37:20,280 --> 00:37:24,920 S9: companies are changing this and getting rid of all those exclusions. 681 00:37:25,080 --> 00:37:27,600 S1: Uh, and I know in some cases you you tell 682 00:37:27,600 --> 00:37:31,000 S1: them that they're discriminating on these matches and they say, no, 683 00:37:31,000 --> 00:37:33,480 S1: we're not. And you say, yeah, go to your web 684 00:37:33,520 --> 00:37:35,000 S1: page and try it. Right. 685 00:37:35,440 --> 00:37:38,320 S9: That's actually we've actually done it in real time. Um, 686 00:37:38,480 --> 00:37:40,480 S9: I think it was Starbucks. Yeah. Starbucks. Last year they 687 00:37:40,480 --> 00:37:43,080 S9: said no, you know, we give you all 501 C3. 688 00:37:43,080 --> 00:37:45,000 S9: And we said, okay, why don't you just log on 689 00:37:45,000 --> 00:37:50,879 S9: right now? Um, and she did. Uh, onto the giving portal. Um, and, um, 690 00:37:50,920 --> 00:37:52,759 S9: to her credit, she knew how to get to it 691 00:37:52,760 --> 00:37:55,600 S9: right away, so apparently she's using it, and she said, oh, 692 00:37:55,800 --> 00:37:58,489 S9: I didn't know that. Well, you know, I said, well, um, I, 693 00:37:58,530 --> 00:38:00,370 S9: you know, I don't know why, you know, that I, 694 00:38:00,410 --> 00:38:02,650 S9: I guess I don't know why I thought that we 695 00:38:02,690 --> 00:38:04,290 S9: gave to all of them. And I said, probably you 696 00:38:04,330 --> 00:38:06,569 S9: thought it because it's the right thing to do. And 697 00:38:06,570 --> 00:38:09,489 S9: you thought the company was being reasonable. Um, if it's 698 00:38:09,489 --> 00:38:14,169 S9: a 501 C3 recognized by the IRS, that's a great 699 00:38:14,170 --> 00:38:17,570 S9: legal standard. Now, some will add extra things like not 700 00:38:17,610 --> 00:38:20,170 S9: on a terrorist watch list. Okay. We don't want matching 701 00:38:20,170 --> 00:38:23,370 S9: grants to terrorists or doesn't discriminate. Just be clear on 702 00:38:23,370 --> 00:38:27,330 S9: what doesn't discriminate means right? Like doesn't discriminate meaning legal 703 00:38:27,330 --> 00:38:32,290 S9: categories of discrimination. Yes. Doesn't discriminate. Doesn't mean that, you know, 704 00:38:32,410 --> 00:38:35,890 S9: if the church doesn't hire atheists as pastors, that that's 705 00:38:35,930 --> 00:38:36,450 S9: you know what I mean? 706 00:38:36,489 --> 00:38:37,530 S1: Like, right. Sure. 707 00:38:37,570 --> 00:38:40,689 S9: Some some some. It's kind of baked into the model. Right? 708 00:38:40,730 --> 00:38:43,890 S9: That um, so that's been something we've seen a lot 709 00:38:43,890 --> 00:38:47,250 S9: of victories on that. I just can't share names with 710 00:38:47,250 --> 00:38:48,969 S9: you yet for the ones that are doing it. But 711 00:38:48,969 --> 00:38:53,089 S9: it's not, you know, Joe's Hamburger Hut. I mean, it's 712 00:38:53,090 --> 00:38:57,210 S9: major global brands that are changing. I hope Joe's Hamburger 713 00:38:57,210 --> 00:39:00,370 S9: Hut also doesn't discriminate. Joe, if you're listening, if it's 714 00:39:00,370 --> 00:39:04,210 S9: a real business, I don't mean to be, you know, uh, but, uh, 715 00:39:04,210 --> 00:39:08,770 S9: major multinational corporations are saying. That's a really good point. Uh, 716 00:39:08,770 --> 00:39:11,330 S9: we don't know why we do that. And and here's 717 00:39:11,330 --> 00:39:15,770 S9: the answer, because there are outside administrative services like Benevity 718 00:39:16,210 --> 00:39:20,089 S9: that seem to do this without asking the companies whether 719 00:39:20,090 --> 00:39:23,290 S9: they want to. So the problem is, see, it's always 720 00:39:23,290 --> 00:39:27,009 S9: there somewhere in the bureaucracy some organization seems to have 721 00:39:27,050 --> 00:39:30,970 S9: maybe some animus. They're using some politicized hate group list 722 00:39:30,969 --> 00:39:35,330 S9: or they're using discriminatory, you know, um, standards against people 723 00:39:35,330 --> 00:39:38,729 S9: of faith and nobody's looking. And a lot of times, 724 00:39:38,730 --> 00:39:40,370 S9: our job is just to look. It's just to shine 725 00:39:40,370 --> 00:39:41,650 S9: a light on it and get them to ask the 726 00:39:41,650 --> 00:39:44,450 S9: question and to log on to their own portal and, 727 00:39:44,450 --> 00:39:46,689 S9: and get them to look at what's actually happening and 728 00:39:46,690 --> 00:39:47,689 S9: what's excluded. 729 00:39:48,489 --> 00:39:50,969 S1: Well, it's great, Jerry, and I'll tell you, I mean, 730 00:39:51,010 --> 00:39:54,420 S1: the tide is turning and two fronts. One is the 731 00:39:54,420 --> 00:39:58,660 S1: receptivity and action that these companies are taking. And on 732 00:39:58,660 --> 00:40:01,980 S1: the other side, just the number of of ministries and 733 00:40:01,980 --> 00:40:06,100 S1: organizations that are joining with you and the team in 734 00:40:06,100 --> 00:40:07,820 S1: the engagement process. Right? 735 00:40:08,340 --> 00:40:11,980 S9: Absolutely. Uh, every, you know, 4 or 5 times a week, 736 00:40:11,980 --> 00:40:16,340 S9: I'm having a conversation with, uh, Christian financial advisor CCA members, 737 00:40:16,340 --> 00:40:19,020 S9: I should say, um, who say, I want to start 738 00:40:19,020 --> 00:40:22,340 S9: doing this. How would I go about that? Or ministries, uh, 739 00:40:22,380 --> 00:40:24,819 S9: well-known Christian ministries. They can make their own announcements. I 740 00:40:24,820 --> 00:40:28,660 S9: won't mention the names, colleges and universities. Um, and I'm 741 00:40:28,660 --> 00:40:33,379 S9: not sure that people understand your church has a pension plan. Right? Um, 742 00:40:33,420 --> 00:40:38,460 S9: denominations have pension plans, and those pension plans have stocks 743 00:40:38,460 --> 00:40:42,620 S9: in them, and they're being voted. Are they voting against 744 00:40:42,620 --> 00:40:45,300 S9: the proposals that we're helping to put forward that say 745 00:40:45,420 --> 00:40:48,180 S9: it's risky to give puberty blockers to kids and for 746 00:40:48,180 --> 00:40:51,180 S9: shareholders to pay for it? It's risky to discriminate against 747 00:40:51,180 --> 00:40:56,750 S9: churches and synagogues. It's it's risky to discriminate on on 748 00:40:57,030 --> 00:41:01,069 S9: who you often offer charitable pricing on. It's risky to 749 00:41:01,110 --> 00:41:04,590 S9: say we're fine with a pride employee resource group, but 750 00:41:04,590 --> 00:41:11,509 S9: no religious employee resource groups. Um, how are church pension plans? 751 00:41:11,510 --> 00:41:14,990 S9: How are ministry pension plans? How are ministry foundations voting 752 00:41:14,989 --> 00:41:18,469 S9: on this? You are voting. Yeah. And given what I've 753 00:41:18,469 --> 00:41:21,830 S9: seen in terms of the vote pattern, you're almost certainly 754 00:41:21,830 --> 00:41:24,230 S9: voting against all of the or almost all of these 755 00:41:24,230 --> 00:41:26,790 S9: proposals that are designed to get companies back to neutral 756 00:41:26,790 --> 00:41:27,710 S9: and back to fair. 757 00:41:28,190 --> 00:41:30,670 S1: Wow. Well, the good news is, Jerry, this is going 758 00:41:30,710 --> 00:41:34,510 S1: to become normal. Far more normal than it's becoming already 759 00:41:34,510 --> 00:41:37,509 S1: today in the future. And you're at the front end 760 00:41:37,510 --> 00:41:39,029 S1: of it, my friend. So we're grateful. 761 00:41:39,430 --> 00:41:41,430 S9: Thank you. Well, you've been there from the beginning. Uh, 762 00:41:41,430 --> 00:41:43,190 S9: so you've been part of making it all happen? 763 00:41:43,550 --> 00:41:46,750 S1: Well, it's exciting to see. And I'll tell you the 764 00:41:46,750 --> 00:41:49,149 S1: the things that are coming. Uh, I'm. I really can't 765 00:41:49,150 --> 00:41:51,630 S1: wait to hear even just what the outcome of some 766 00:41:51,630 --> 00:41:53,750 S1: of the things you're working on this year. Well, thanks 767 00:41:53,750 --> 00:41:55,670 S1: for your time, Jerry. As always, have a great weekend. 768 00:41:55,710 --> 00:41:56,750 S1: We'll talk to you next week. 769 00:41:56,989 --> 00:41:58,070 S9: Thank you. God bless you. 770 00:41:58,310 --> 00:42:01,230 S1: All right. That's Jerry Bowyer. He's our resident economist. And 771 00:42:01,270 --> 00:42:04,470 S1: he joins us each Friday with his market commentary. Today, 772 00:42:04,469 --> 00:42:08,469 S1: our focus, corporate engagement and the great successes being had. Hey, 773 00:42:08,469 --> 00:42:10,790 S1: I'm so thankful to have you along with us this week. Uh, 774 00:42:10,790 --> 00:42:14,190 S1: one favor. We're doing a listener survey. It's our chance 775 00:42:14,190 --> 00:42:15,750 S1: here at the beginning of the year to hear from you. 776 00:42:15,750 --> 00:42:18,029 S1: What do you like? What should we change? What should 777 00:42:18,030 --> 00:42:20,710 S1: we do more of? Less of? What topics should we cover? 778 00:42:20,910 --> 00:42:24,469 S1: We really take your input seriously, and it helps to 779 00:42:24,510 --> 00:42:27,029 S1: shape the broadcast in the coming year. Just head to 780 00:42:27,070 --> 00:42:32,710 S1: faith by Faith. If you want to find us in 781 00:42:32,710 --> 00:42:38,189 S1: your area, find a faith and finance partnership between Moody 782 00:42:38,230 --> 00:42:42,509 S1: Radio and Faith Fi. My team today, they're amazing. Taylor, Tyra, Josh, 783 00:42:42,550 --> 00:42:44,509 S1: Dan and everybody here at Faith fi. We'll see you 784 00:42:44,510 --> 00:42:45,390 S1: next week. Bye bye.