1 00:00:08,320 --> 00:00:12,119 S1: Money and marriage. Two things God designed to bless us. 2 00:00:12,119 --> 00:00:14,640 S1: But they can also be two of the greatest sources 3 00:00:14,640 --> 00:00:19,840 S1: of stress. So what if we turn financial conflict into connection? Hi, 4 00:00:19,880 --> 00:00:22,799 S1: I'm Rob West. Doctor Shane, Ina joins us today to 5 00:00:22,840 --> 00:00:27,280 S1: share six creative ways couples can build stronger relationships by 6 00:00:27,280 --> 00:00:32,400 S1: having intentional financial conversations, what he calls money dates. And 7 00:00:32,400 --> 00:00:36,720 S1: then it's on to your phone calls at 800 525 7000. 8 00:00:36,760 --> 00:00:41,960 S1: That's 800 525 7000. This is faith and finance. Live. 9 00:00:42,120 --> 00:00:48,320 S1: Biblical wisdom for your financial decisions. Joining us once again 10 00:00:48,360 --> 00:00:52,040 S1: is Doctor Shane Annette, associate professor of finance at Biola 11 00:00:52,080 --> 00:00:56,040 S1: University and founder of the Biola Center for Financial Planning. 12 00:00:56,080 --> 00:00:59,710 S1: He's also a trusted contributor to Faith, Fi and Shane, 13 00:00:59,710 --> 00:01:01,110 S1: it is great to have you back. 14 00:01:01,310 --> 00:01:03,350 S2: Yeah. Thank you Rob. Always a joy to be here 15 00:01:03,350 --> 00:01:04,550 S2: and share these ideas. 16 00:01:04,590 --> 00:01:07,550 S1: Well, I'm particularly excited about this. Shane, this is a 17 00:01:07,550 --> 00:01:12,070 S1: book that has needed to be written for a long time. 18 00:01:12,069 --> 00:01:16,789 S1: This idea of money dates coming together as a couple. 19 00:01:16,830 --> 00:01:20,310 S1: And let's start there. Why is it so important to 20 00:01:20,350 --> 00:01:25,990 S1: intentionally schedule conversations about money, rather than only addressing concerns 21 00:01:25,990 --> 00:01:27,709 S1: as they come up as they arise? 22 00:01:27,950 --> 00:01:31,589 S2: You know, with money, it's real personal. And when people 23 00:01:31,590 --> 00:01:35,310 S2: get together, they've done all these studies. One particular study 24 00:01:35,310 --> 00:01:38,910 S2: that looked at 2000 couples. Um, half of them said 25 00:01:38,910 --> 00:01:43,069 S2: they're uncomfortable talking about money because they're worried. They're worried 26 00:01:43,069 --> 00:01:46,190 S2: that it's going to cause conflict. And and so they 27 00:01:46,190 --> 00:01:48,510 S2: end up not talking about it. And that ends up 28 00:01:48,550 --> 00:01:52,430 S2: burying the conflict. And it becomes deeper. And then, you know, 29 00:01:52,510 --> 00:01:55,350 S2: the study also showed that on average, couples have about 30 00:01:55,350 --> 00:01:59,140 S2: 58 arguments about money per year. Yeah. And so there's 31 00:01:59,140 --> 00:02:01,980 S2: just this fear that creates something worse if you don't 32 00:02:02,020 --> 00:02:04,340 S2: talk about it. And so you kind of have to 33 00:02:04,380 --> 00:02:07,580 S2: maybe rip the band aid and just get the conversation going. 34 00:02:07,820 --> 00:02:10,180 S2: But but I'm wanting to try and help it get 35 00:02:10,180 --> 00:02:12,500 S2: it going where it's not painful, but actually kind of 36 00:02:12,540 --> 00:02:13,860 S2: a fun experience. 37 00:02:14,020 --> 00:02:17,580 S1: Yeah. Well, and Howard Dayton has talked about this for years. 38 00:02:17,620 --> 00:02:20,740 S1: I mean, that was the first time I was introduced 39 00:02:20,740 --> 00:02:23,019 S1: to this idea of a money date. And Howard would 40 00:02:23,020 --> 00:02:25,780 S1: always say, at least monthly, you need to come together. 41 00:02:25,780 --> 00:02:29,180 S1: And this isn't finger pointing. This is really about course 42 00:02:29,180 --> 00:02:33,660 S1: corrections getting on the same page. It's about seeking understanding 43 00:02:33,660 --> 00:02:36,940 S1: and driving toward our goals that should be informed by 44 00:02:36,940 --> 00:02:39,620 S1: our values. But I think you've even taken it to 45 00:02:39,660 --> 00:02:42,740 S1: another level, because what you're telling us is these can 46 00:02:42,740 --> 00:02:45,980 S1: actually be fun. And that's why I was so thrilled 47 00:02:45,980 --> 00:02:48,260 S1: that in our latest edition of Faithful Steward, you wrote 48 00:02:48,260 --> 00:02:52,860 S1: this great article on six great money dates. So why 49 00:02:52,860 --> 00:02:55,419 S1: is this so important to talk about it this way 50 00:02:55,560 --> 00:02:56,280 S1: as a date. 51 00:02:56,480 --> 00:02:58,200 S2: You know, we just want to kind of grease the 52 00:02:58,200 --> 00:03:01,799 S2: wheels to get the conversation going. And dating can be 53 00:03:01,800 --> 00:03:04,280 S2: a lot of fun if you're intentional, if it's something 54 00:03:04,280 --> 00:03:07,400 S2: that you want to do. And so why not kind 55 00:03:07,400 --> 00:03:11,680 S2: of combine something really fun with something maybe not as fun? 56 00:03:11,880 --> 00:03:14,679 S2: And then as you're connecting in this kind of fun 57 00:03:14,680 --> 00:03:17,880 S2: date environment, then I think the money conversations actually end 58 00:03:17,919 --> 00:03:20,360 S2: up being more fun than if you were just at home, 59 00:03:20,560 --> 00:03:22,040 S2: kind of in your normal day to day. 60 00:03:22,400 --> 00:03:25,280 S1: Yeah. And the idea here is a regular rhythm, a 61 00:03:25,280 --> 00:03:27,680 S1: place where you and your spouse come together to talk 62 00:03:27,680 --> 00:03:30,960 S1: about money. But to Shane's point, these can be really 63 00:03:30,960 --> 00:03:33,800 S1: enjoyable and you can have a great date at the 64 00:03:33,800 --> 00:03:36,800 S1: same time. So money date number one is about sharing 65 00:03:36,800 --> 00:03:39,560 S1: your money story. Unpack this for us. 66 00:03:39,720 --> 00:03:44,080 S2: Yeah. So I think with money there's a story behind 67 00:03:44,080 --> 00:03:46,520 S2: how you're thinking about money, how you're feeling about it. 68 00:03:46,520 --> 00:03:49,320 S2: There's a lot of experiences that we have growing up 69 00:03:49,560 --> 00:03:52,600 S2: and it's really important just, you know, as a couple, 70 00:03:52,600 --> 00:03:54,630 S2: if you want to grow closer together and you want 71 00:03:54,630 --> 00:03:59,070 S2: to understand where someone's coming from to learn about their experiences, 72 00:03:59,070 --> 00:04:02,790 S2: and so to have an intentional time where you think 73 00:04:02,790 --> 00:04:06,550 S2: about kind of early childhood memories around money, how your 74 00:04:06,550 --> 00:04:08,950 S2: family thought about money, what kind of messages you heard 75 00:04:08,950 --> 00:04:12,310 S2: about money from your family of origin. All those things 76 00:04:12,310 --> 00:04:15,110 S2: can kind of get put together in a money biography 77 00:04:15,110 --> 00:04:18,310 S2: or autobiography. And if you think about that ahead of 78 00:04:18,310 --> 00:04:20,190 S2: time and then bring it to the date, you can 79 00:04:20,190 --> 00:04:23,429 S2: share your story. Let it just unfold at the date 80 00:04:23,430 --> 00:04:25,750 S2: at a good restaurant, while you're eating good food and 81 00:04:25,750 --> 00:04:28,989 S2: enjoying kind of the atmosphere, and then you can really 82 00:04:28,990 --> 00:04:32,390 S2: get some shared sense of empathy towards your partner. If 83 00:04:32,390 --> 00:04:35,310 S2: they start kind of thinking some way or spending in 84 00:04:35,310 --> 00:04:37,430 S2: a way that's you don't agree with, then you can 85 00:04:37,430 --> 00:04:39,310 S2: connect it to kind of their money story. 86 00:04:39,630 --> 00:04:41,630 S1: Oh, I couldn't agree more, Shane. You know, one of 87 00:04:41,630 --> 00:04:43,950 S1: the keys to getting on the same page as a 88 00:04:43,950 --> 00:04:47,270 S1: couple as it relates to money is understanding. And there 89 00:04:47,310 --> 00:04:51,710 S1: is nothing better than unpacking this question together that Doctor 90 00:04:51,779 --> 00:04:55,060 S1: E-net presents in date number one. What was your earliest 91 00:04:55,060 --> 00:04:58,460 S1: memory of the concept of money? Knowing that could be 92 00:04:58,460 --> 00:05:01,980 S1: a game changer. We're talking with Doctor Shane E-net today. 93 00:05:02,020 --> 00:05:05,779 S1: He is associate professor of finance at Biola University. He's 94 00:05:05,779 --> 00:05:09,180 S1: also the author of an article in issue number two 95 00:05:09,220 --> 00:05:13,540 S1: of our Faithful Steward magazine called Six Great Money Dates. 96 00:05:13,580 --> 00:05:16,659 S1: More dates. Right after this, I'm Rob West and you're 97 00:05:16,660 --> 00:05:20,059 S1: listening to Faith and finance. Live biblical wisdom for your 98 00:05:20,060 --> 00:05:35,020 S1: financial decisions. We'll be right back. We've all heard the stats. 99 00:05:35,020 --> 00:05:39,300 S1: Money is one of the biggest sources of conflict in marriage. 100 00:05:39,460 --> 00:05:42,299 S1: It doesn't have to be that way. Thanks for joining 101 00:05:42,300 --> 00:05:45,020 S1: us today on Faith and Finance Live. I'm Rob West 102 00:05:45,020 --> 00:05:47,940 S1: with me today. My friend Doctor Shane Enid. He's associate 103 00:05:47,940 --> 00:05:52,320 S1: professor of finance at Biola University. He's a regular contributor 104 00:05:52,320 --> 00:05:54,720 S1: here at Faith and finance, and he's the author of 105 00:05:54,720 --> 00:05:58,240 S1: a great article in issue two of our magazine, faithful 106 00:05:58,240 --> 00:06:02,040 S1: steward called Six Great Money Dates. Six dates you and 107 00:06:02,040 --> 00:06:04,919 S1: your spouse can enjoy to grow closer to each other 108 00:06:04,920 --> 00:06:08,320 S1: and become better stewards of the resources God has entrusted 109 00:06:08,320 --> 00:06:11,400 S1: to you and Shane. Before the break, you shared date 110 00:06:11,440 --> 00:06:14,560 S1: number one sharing your money story. Date number two is 111 00:06:14,560 --> 00:06:17,880 S1: really intriguing and you call it give together. Explain it 112 00:06:17,880 --> 00:06:18,360 S1: to us. 113 00:06:18,640 --> 00:06:21,159 S2: You know, I, uh, I had a lot of fun 114 00:06:21,160 --> 00:06:24,880 S2: giving adventures as a single guy, uh, in my 20s 115 00:06:24,880 --> 00:06:27,920 S2: and into my early 30s. And my wife also, you know, 116 00:06:27,960 --> 00:06:31,880 S2: was was a great giver. And when we got married, 117 00:06:31,920 --> 00:06:33,440 S2: you know, we kind of got into a little bit 118 00:06:33,440 --> 00:06:36,960 S2: of a giving rhythm. But what I realized after eight 119 00:06:36,960 --> 00:06:39,200 S2: years of marriage is that we had never really done 120 00:06:39,200 --> 00:06:42,599 S2: a big, giving adventure together. We'd never really sat down 121 00:06:42,600 --> 00:06:46,400 S2: and said, hey, you know, what is our ethos with giving? 122 00:06:46,440 --> 00:06:49,190 S2: What kind of giving would make us both kind of 123 00:06:49,230 --> 00:06:52,350 S2: come together in a meaningful way. And so we had 124 00:06:52,350 --> 00:06:56,350 S2: a conversation and we did some fun giving together, and 125 00:06:56,350 --> 00:06:59,110 S2: we determined kind of what our household, how our household 126 00:06:59,110 --> 00:07:01,630 S2: wanted to give and how in what ways. Because it's 127 00:07:01,630 --> 00:07:04,029 S2: not just firstfruit giving. You can also give in so 128 00:07:04,029 --> 00:07:05,429 S2: many other ways as well. 129 00:07:05,750 --> 00:07:08,630 S1: Mhm. Yeah. And you really give three options here. And 130 00:07:08,670 --> 00:07:11,590 S1: of course there's unlimited options for how you give. But 131 00:07:11,830 --> 00:07:12,990 S1: share a couple of these. 132 00:07:13,430 --> 00:07:16,670 S2: So besides Firstfruit giving you can do a giving goal 133 00:07:16,670 --> 00:07:20,030 S2: which I just love. So I'm very competitive. And giving 134 00:07:20,030 --> 00:07:23,110 S2: goals you can track and you can celebrate. I love 135 00:07:23,110 --> 00:07:25,830 S2: celebrating as well. And so we have a giving goal 136 00:07:25,830 --> 00:07:28,230 S2: as a family, you know, and we went to a 137 00:07:28,230 --> 00:07:30,910 S2: real nice, fun restaurant we would normally not go to 138 00:07:30,950 --> 00:07:33,910 S2: as a family and telling her kids, hey, we're doing 139 00:07:33,910 --> 00:07:36,390 S2: this big treat because we've gotten halfway on our giving 140 00:07:36,390 --> 00:07:39,790 S2: goal and it's just real festive. And, you know, a 141 00:07:39,830 --> 00:07:43,070 S2: giving circle is very special. That's where you find like 142 00:07:43,110 --> 00:07:46,430 S2: minded people in a Bible study, in a neighborhood, or 143 00:07:46,540 --> 00:07:49,260 S2: even within your family and extended family, and you all 144 00:07:49,260 --> 00:07:51,580 S2: pool your money together and give to a common place 145 00:07:51,580 --> 00:07:54,780 S2: that you're all passionate about doing. And and the last 146 00:07:54,780 --> 00:07:58,060 S2: one is just let's create kind of a percentage of 147 00:07:58,100 --> 00:08:00,620 S2: giving that's kind of a stretch goal. And then as 148 00:08:00,620 --> 00:08:03,220 S2: we get, you know, have an increase in our income, 149 00:08:03,220 --> 00:08:07,100 S2: we increase our giving over time and move towards that goal. 150 00:08:07,460 --> 00:08:10,300 S1: Yeah. That is so good. All right. Well this next day, 151 00:08:10,340 --> 00:08:13,380 S1: date number three, you call cook the books. And I 152 00:08:13,380 --> 00:08:15,900 S1: have a bit of an idea on where we're going here. 153 00:08:15,940 --> 00:08:18,620 S1: Explain kind of the fun part of the date and 154 00:08:18,620 --> 00:08:21,180 S1: then also what they're doing financially as well. 155 00:08:21,540 --> 00:08:24,180 S2: Sure. Yeah. With this one it'd be fun instead of 156 00:08:24,220 --> 00:08:26,780 S2: going to a restaurant to actually stay at home and 157 00:08:26,780 --> 00:08:29,380 S2: cook together. And there can often be a lot of 158 00:08:29,380 --> 00:08:33,780 S2: good conversation, a lot of good fellowship together as you cook. Um, 159 00:08:33,780 --> 00:08:35,820 S2: and if you don't want to cook, then what's also 160 00:08:35,820 --> 00:08:38,940 S2: fun is just go to a store, grab food together 161 00:08:38,940 --> 00:08:41,420 S2: to go type of food, and do a picnic so 162 00:08:41,420 --> 00:08:44,460 S2: you can kind of go either way. And then, um, 163 00:08:44,460 --> 00:08:47,530 S2: when you are making the food and then eating it, 164 00:08:47,530 --> 00:08:51,130 S2: and hopefully a relatively romantic way at home, you're able 165 00:08:51,130 --> 00:08:53,370 S2: to just start to talk about, hey, how should we 166 00:08:53,410 --> 00:08:57,089 S2: develop a rhythm for our budgeting, you know, and how 167 00:08:57,090 --> 00:09:00,609 S2: should we who should be responsible for kind of tracking things, 168 00:09:00,770 --> 00:09:04,329 S2: who should be responsible for maybe keeping some receipts if 169 00:09:04,330 --> 00:09:07,130 S2: you need to look at how things are being spent 170 00:09:07,330 --> 00:09:10,090 S2: and what type of apps should we be using. And, 171 00:09:10,130 --> 00:09:12,170 S2: you know, there's a little bit of maintenance when you 172 00:09:12,170 --> 00:09:14,929 S2: do budgeting. And it's nice to come together with a 173 00:09:14,929 --> 00:09:16,530 S2: plan about who's going to do what. 174 00:09:17,210 --> 00:09:19,970 S1: Yeah, you're exactly right. And that's where the Faith fi 175 00:09:20,010 --> 00:09:22,329 S1: app could be really helpful. I know Julie and I 176 00:09:22,330 --> 00:09:25,410 S1: use that to track our family's budget. And if you 177 00:09:25,410 --> 00:09:27,530 S1: want to learn more, you could go to Faith comm. 178 00:09:27,530 --> 00:09:30,290 S1: Just click on app there at the top of the page. 179 00:09:30,330 --> 00:09:33,490 S1: All right. Let's get to money date number four. And 180 00:09:33,490 --> 00:09:36,530 S1: this is around your credit report. Explain this to us. 181 00:09:36,730 --> 00:09:38,650 S2: Okay. Before I do, let me just say the date. 182 00:09:38,650 --> 00:09:41,010 S2: I would like to pair with this one. So with 183 00:09:41,010 --> 00:09:44,119 S2: debt it's very emotional. It's There's a lot of emotional 184 00:09:44,120 --> 00:09:47,680 S2: cost to it, and people get stressed and there's actually 185 00:09:47,679 --> 00:09:50,959 S2: a lot of financial, what they call PTSD about around debt. 186 00:09:51,200 --> 00:09:54,920 S2: And so I have a suggestion. So the spa is 187 00:09:54,920 --> 00:09:57,920 S2: usually pretty expensive. Um, and it might get you into 188 00:09:57,920 --> 00:10:00,960 S2: more debt. But if you get good at doing what 189 00:10:00,960 --> 00:10:04,959 S2: are called day spa passes, then you can end up 190 00:10:04,960 --> 00:10:07,640 S2: getting into all of the facilities and all of the 191 00:10:07,640 --> 00:10:10,600 S2: fun ways of enjoying a spa without a treatment, but 192 00:10:10,600 --> 00:10:14,440 S2: you're just using their, you know, their spa and their, um, 193 00:10:14,440 --> 00:10:17,559 S2: rooms and all of everything's beautiful and you just spend 194 00:10:17,559 --> 00:10:20,040 S2: the day there, and then you can talk about your 195 00:10:20,040 --> 00:10:23,880 S2: debts and laying a credit boundary, thinking about, you know, 196 00:10:24,040 --> 00:10:26,120 S2: what are your attitudes around debt? How how have you 197 00:10:26,120 --> 00:10:29,000 S2: experienced it over time? Was there some trauma in the 198 00:10:29,000 --> 00:10:31,360 S2: past with your family and how they kind of your 199 00:10:31,360 --> 00:10:33,920 S2: family of origin and how they experienced debt? And with 200 00:10:33,920 --> 00:10:35,800 S2: your current debt, do you know how much you have, 201 00:10:35,840 --> 00:10:37,679 S2: and do you fear it in such a way that 202 00:10:37,679 --> 00:10:39,880 S2: you want to get rid of it? If so, how far? 203 00:10:40,000 --> 00:10:43,260 S2: How strong? you know. Just talk about your ambition, about 204 00:10:43,260 --> 00:10:45,780 S2: getting rid of the debts. But all of that, you know, 205 00:10:45,820 --> 00:10:48,260 S2: you can do in just this beautiful place. And I 206 00:10:48,260 --> 00:10:51,380 S2: think that would really help create a good, constructive conversation 207 00:10:51,380 --> 00:10:52,140 S2: around debt. 208 00:10:52,260 --> 00:10:55,059 S1: Yeah. And with all of these dates, Shane, it goes 209 00:10:55,059 --> 00:10:58,020 S1: without saying that, you know, this is about coming together 210 00:10:58,020 --> 00:11:02,100 S1: and making forward progress, not dwelling on what's gone wrong 211 00:11:02,100 --> 00:11:04,180 S1: in the past or pointing fingers. Right? 212 00:11:04,500 --> 00:11:07,540 S2: Correct. Yeah. You just want to care for each other, 213 00:11:07,540 --> 00:11:10,500 S2: and you want to talk openly about things that matter 214 00:11:10,660 --> 00:11:12,620 S2: to each of you, and then you want to be 215 00:11:12,660 --> 00:11:16,420 S2: able to agree upon kind of an exciting plan, one 216 00:11:16,420 --> 00:11:19,980 S2: that you're both owning and coming together to figure out, 217 00:11:20,020 --> 00:11:22,220 S2: not just telling the other person this is how it's 218 00:11:22,220 --> 00:11:24,700 S2: going to be, but saying, you know, what kind of 219 00:11:24,740 --> 00:11:27,540 S2: boundaries should we have about credit cards? Let's come together 220 00:11:27,540 --> 00:11:30,460 S2: and agree how we should use them. Should we cut 221 00:11:30,460 --> 00:11:32,060 S2: them up, or should we use them to try and 222 00:11:32,059 --> 00:11:35,780 S2: get travel points? Um, you know, just honestly in what way? 223 00:11:35,780 --> 00:11:38,300 S2: And then it's neat to figure out some other safeguards 224 00:11:38,300 --> 00:11:41,570 S2: as well about what type of debt you'd be willing 225 00:11:41,610 --> 00:11:43,730 S2: to get and and what type of debt you should 226 00:11:43,730 --> 00:11:45,890 S2: always avoid, and those kinds of things. 227 00:11:46,170 --> 00:11:49,810 S1: We're talking six great money dates with Doctor Shane today 228 00:11:49,850 --> 00:11:53,650 S1: of Biola University. This is an article that's in issue 229 00:11:53,650 --> 00:11:57,850 S1: two of Faithful Steward our magazine. Shane money. Date number 230 00:11:57,850 --> 00:12:01,530 S1: five is called Number Your Days. Explain this one. 231 00:12:01,530 --> 00:12:06,130 S2: Sure. That phrase comes from Psalm 9012 where the psalmist 232 00:12:06,170 --> 00:12:09,130 S2: is saying to he's requesting. He's asking that we may 233 00:12:09,170 --> 00:12:11,929 S2: be taught to number our days. And what happens is 234 00:12:11,970 --> 00:12:14,369 S2: we gain a heart of wisdom when we do this. 235 00:12:14,410 --> 00:12:16,770 S2: And I think every couple, when they come together should 236 00:12:16,770 --> 00:12:20,849 S2: consider that, you know, life's short and you know, it's 100% 237 00:12:20,850 --> 00:12:23,770 S2: mortality rate. And it's really there's so much that can 238 00:12:23,770 --> 00:12:27,770 S2: be done now to prepare us for to, to essentially 239 00:12:27,809 --> 00:12:30,090 S2: to number our days. And, you know, we need to 240 00:12:30,130 --> 00:12:34,010 S2: think about what happens if we pass away, if we're 241 00:12:34,330 --> 00:12:36,890 S2: get to a place where we no longer have, uh, 242 00:12:36,890 --> 00:12:40,880 S2: you know, our cognitive abilities. And so that deals with 243 00:12:41,000 --> 00:12:44,360 S2: power of attorney and healthcare directives and our will and 244 00:12:44,360 --> 00:12:48,360 S2: potential trusts. And really, when you come together, the date 245 00:12:48,400 --> 00:12:53,079 S2: should be about determining and identifying key people in your life, 246 00:12:53,080 --> 00:12:55,160 S2: who you trust, who you want to be the guardian 247 00:12:55,200 --> 00:12:57,640 S2: of your children, who you want to be the executor 248 00:12:57,679 --> 00:12:59,760 S2: of your will. Who you want to be an agent for, 249 00:12:59,760 --> 00:13:02,839 S2: your power of attorney. You know, and these people are 250 00:13:02,840 --> 00:13:05,560 S2: really important to figure out together. You don't want this 251 00:13:05,559 --> 00:13:08,000 S2: to be kind of an emergency thing. And, you know, 252 00:13:08,040 --> 00:13:11,360 S2: just spending an hour on estate planning makes a huge 253 00:13:11,360 --> 00:13:14,720 S2: difference for the people that you love. And really, it's 254 00:13:14,720 --> 00:13:17,720 S2: one of the most selfless, connected things to the gospel 255 00:13:17,760 --> 00:13:20,280 S2: because you're doing this purely for the sake of others. 256 00:13:20,520 --> 00:13:22,760 S2: And I think as a household and as a couple, 257 00:13:23,000 --> 00:13:26,360 S2: doing this really makes it so that, you know, you're 258 00:13:26,360 --> 00:13:29,199 S2: doing you're drawing closer as you're numbering your days and 259 00:13:29,200 --> 00:13:32,040 S2: you're both together gaining this heart of wisdom. 260 00:13:32,240 --> 00:13:36,620 S1: This is so helpful, Shane. Turning money Conversations into something 261 00:13:36,660 --> 00:13:40,860 S1: intentional and even enjoyable is a powerful way for couples 262 00:13:40,860 --> 00:13:44,700 S1: to strengthen both their finances and their marriage. Thanks so 263 00:13:44,700 --> 00:13:47,980 S1: much for joining us today. This has been a great conversation. 264 00:13:48,020 --> 00:13:49,180 S2: Yeah. Thank you for having me. 265 00:13:49,380 --> 00:13:52,140 S1: That's Doctor Shane init, the author of an article on 266 00:13:52,140 --> 00:13:55,140 S1: this topic. You'll find in issue two of Faithful Steward, 267 00:13:55,140 --> 00:13:58,780 S1: our quarterly print magazine for Faith v partners. Partners support 268 00:13:58,780 --> 00:14:02,140 S1: the mission with $35 a month or $400 a year, 269 00:14:02,140 --> 00:14:06,460 S1: and receive Faithful Steward Quarterly directly to their mailbox, plus 270 00:14:06,500 --> 00:14:13,140 S1: other exclusive benefits. Learn more at Faith. Your questions are next. 271 00:14:13,140 --> 00:14:18,100 S1: 800 525 7000. I'm Rob Weston. You're listening to Faith 272 00:14:18,100 --> 00:14:21,140 S1: and finance live. We'll be right back after this break. 273 00:14:31,820 --> 00:14:35,010 S3: The opinions offered during this program represent the personal or 274 00:14:35,010 --> 00:14:39,370 S3: professional opinions of the participants, given for informational purposes only. 275 00:14:39,490 --> 00:14:42,890 S3: Any information provided is not intended to replace advice from 276 00:14:42,890 --> 00:14:47,330 S3: a financial, medical, legal, or other professional who understands your 277 00:14:47,330 --> 00:14:48,890 S3: specific situation. 278 00:14:54,850 --> 00:14:57,410 S1: Hey, thanks for joining us today on Faith and Finance Live. 279 00:14:57,450 --> 00:15:00,010 S1: Great to have Doctor Inet with us. I love this 280 00:15:00,010 --> 00:15:02,290 S1: idea of a money date. If you're not doing that, 281 00:15:02,610 --> 00:15:05,770 S1: just start somewhere. You don't have to plan the next five. 282 00:15:05,810 --> 00:15:07,930 S1: Just plan one and say, you know what, we're not 283 00:15:07,930 --> 00:15:09,570 S1: going to point any fingers. We're just going to take 284 00:15:09,570 --> 00:15:13,410 S1: a time to get together this week at some point 285 00:15:13,410 --> 00:15:16,130 S1: over this month and just say, what course corrections do 286 00:15:16,130 --> 00:15:18,050 S1: we need to make? Where are things going? Right. What 287 00:15:18,050 --> 00:15:20,690 S1: could we improve on? Uh, you know, how do we 288 00:15:20,690 --> 00:15:23,370 S1: get on the same page with regard to how we're 289 00:15:23,370 --> 00:15:27,410 S1: managing money using this tool called money as fuel to 290 00:15:27,450 --> 00:15:30,170 S1: take us in the direction that God would have us 291 00:15:30,170 --> 00:15:33,200 S1: to go and get on the same page. Perhaps it 292 00:15:33,200 --> 00:15:36,640 S1: becomes a rhythm, even a blessing to your marriage. Well, 293 00:15:36,640 --> 00:15:39,800 S1: let's turn the corner and begin to open the topic 294 00:15:39,800 --> 00:15:42,760 S1: to anything financial. If you have something going on in 295 00:15:42,760 --> 00:15:44,840 S1: your financial life, we'd love to hear from you today. 296 00:15:44,840 --> 00:15:48,080 S1: Wrestle with that. Together with you and help you apply 297 00:15:48,080 --> 00:15:51,239 S1: God's wisdom to your financial choices. We've got some lines open. 298 00:15:51,240 --> 00:15:53,400 S1: We'll begin taking those calls here in just a moment. 299 00:15:53,400 --> 00:16:01,080 S1: That number 800 525 7000. That's 800 525 7000. Uh, 300 00:16:01,080 --> 00:16:03,400 S1: before we head into those phone calls in the news today, 301 00:16:03,560 --> 00:16:08,480 S1: a consumer data privacy faces growing risk as data breaches 302 00:16:08,640 --> 00:16:12,640 S1: hit a record high in 2025. The Identity Theft Resource 303 00:16:12,640 --> 00:16:19,960 S1: Center reported 3322 breaches last year. That's up 5% from 2024. 304 00:16:20,360 --> 00:16:25,080 S1: Nearly 80% of consumers received at least one breach notice, 305 00:16:25,320 --> 00:16:31,590 S1: and 88% 88% experienced consequences like phishing attempts or spam 306 00:16:31,590 --> 00:16:36,630 S1: or attempted account takeovers. Now, concerns are mounting about government 307 00:16:36,630 --> 00:16:41,470 S1: data handling following court filings alleging security lapses at the 308 00:16:41,470 --> 00:16:47,310 S1: Social Security Administration, with breach notices offering fewer details due 309 00:16:47,310 --> 00:16:51,350 S1: to legal concerns. Experts advise assuming your data has already 310 00:16:51,350 --> 00:16:55,390 S1: been exposed and instead focus on prevention. So let me 311 00:16:55,390 --> 00:16:58,390 S1: give you just a few thoughts on how you can 312 00:16:58,430 --> 00:17:02,630 S1: stay safe with regard to identity theft. First, sign up 313 00:17:02,630 --> 00:17:05,750 S1: for Informed Delivery. This is a free service from the 314 00:17:05,790 --> 00:17:09,109 S1: US Postal Service, where it allows you to preview incoming 315 00:17:09,109 --> 00:17:15,550 S1: mail and spot potential theft. Second, register for property fraud alerts. 316 00:17:15,550 --> 00:17:18,950 S1: This is going to go right after this new trend 317 00:17:18,950 --> 00:17:26,110 S1: around stealing someone's title, essentially fraudulently transferring their title for 318 00:17:26,109 --> 00:17:28,580 S1: the purpose of taking out a loan against the property 319 00:17:28,580 --> 00:17:32,659 S1: with no intention to repay. Now, these are very isolated 320 00:17:32,660 --> 00:17:35,100 S1: and I don't think you need to pay for a service, 321 00:17:35,100 --> 00:17:39,020 S1: but contact your county and get notified if anyone tries 322 00:17:39,020 --> 00:17:41,260 S1: to change your home's title. More and more counties are 323 00:17:41,260 --> 00:17:44,500 S1: offering that free of charge. Third, freeze your credit. This 324 00:17:44,500 --> 00:17:47,140 S1: is going to block the identity thieves from opening new 325 00:17:47,140 --> 00:17:52,620 S1: accounts by contacting Experian, Equifax and TransUnion. Freezing your credit 326 00:17:52,619 --> 00:17:55,140 S1: is free. It's simple to do, and the reason this 327 00:17:55,140 --> 00:17:57,340 S1: is going to stop them is if somebody tries to 328 00:17:57,340 --> 00:18:00,740 S1: open an account in your name, the lender is undoubtedly 329 00:18:00,740 --> 00:18:03,780 S1: going to ask for access to your credit report when 330 00:18:03,780 --> 00:18:06,580 S1: they can't get it because it's frozen and the fraudster 331 00:18:06,580 --> 00:18:09,740 S1: doesn't have the Pin number. They'll be stopped in their tracks. 332 00:18:09,740 --> 00:18:13,020 S1: You can easily unthaw it by providing that pin number, 333 00:18:13,020 --> 00:18:17,940 S1: but it's a nice, safe, free tool for you to use. Next, 334 00:18:17,940 --> 00:18:20,380 S1: set up account alerts. So this is where you would 335 00:18:20,380 --> 00:18:25,060 S1: enable notifications on all financial accounts to track money leaving 336 00:18:25,060 --> 00:18:28,680 S1: your your your account. Now, if you're not careful, you 337 00:18:28,680 --> 00:18:31,120 S1: can be inundated with alerts and then you just start 338 00:18:31,119 --> 00:18:34,600 S1: to ignore them. So be judicious about which alerts you 339 00:18:34,600 --> 00:18:40,240 S1: turn on. But most banks now offer pretty extensive alerting capabilities. 340 00:18:40,680 --> 00:18:43,520 S1: Use a password manager. You could use the one built 341 00:18:43,520 --> 00:18:48,960 S1: in to the Apple operating system if you're on a mac. 342 00:18:49,160 --> 00:18:52,600 S1: If you're not, you could use one of the third 343 00:18:52,600 --> 00:18:57,200 S1: party password managers like LastPass, or one password is another 344 00:18:57,200 --> 00:19:02,320 S1: popular one. These create and store unique, complex passwords for 345 00:19:02,320 --> 00:19:06,119 S1: every account, so you avoid reusing credentials. The key here 346 00:19:06,119 --> 00:19:09,639 S1: is the password manager allows you to call it up 347 00:19:09,680 --> 00:19:13,320 S1: immediately even though it stays encrypted. So this can be 348 00:19:13,320 --> 00:19:17,760 S1: a really helpful tool. And then finally add multi-factor authentication. 349 00:19:18,119 --> 00:19:22,080 S1: This requires at least two forms of identity to access 350 00:19:22,080 --> 00:19:25,310 S1: your sensitive accounts. You're familiar with this. This is where 351 00:19:25,310 --> 00:19:27,990 S1: you log in with a password. That's one form. And 352 00:19:27,990 --> 00:19:30,070 S1: then they require you to get a text message with 353 00:19:30,070 --> 00:19:33,510 S1: a code. That's the second. There's also other ways to 354 00:19:33,550 --> 00:19:37,110 S1: do that. But that's a really key way to add 355 00:19:37,109 --> 00:19:39,830 S1: an extra layer of safety at the end of the day. 356 00:19:39,950 --> 00:19:43,270 S1: Scripture reminds us that wisdom is a form of protection. 357 00:19:43,430 --> 00:19:47,110 S1: So taking these simple steps won't eliminate the risk, but 358 00:19:47,109 --> 00:19:50,150 S1: they can help you steward what God has entrusted to 359 00:19:50,190 --> 00:19:52,909 S1: you more faithfully. I hope that's helpful. All right. We're 360 00:19:52,910 --> 00:19:55,750 S1: going to begin diving into your questions today. Again, we've 361 00:19:55,750 --> 00:20:00,350 S1: got lines open when you call 800 525 7000. Let's 362 00:20:00,350 --> 00:20:02,030 S1: start in California. Joe. Go ahead. 363 00:20:02,070 --> 00:20:08,110 S4: Hello. Thank you. Um, I am 71 years old. I'm self-employed. 364 00:20:08,510 --> 00:20:11,550 S4: I have been for quite a few years. Uh, I 365 00:20:11,670 --> 00:20:16,310 S4: have no plans on quitting. Stop working. I want to work. Uh, 366 00:20:16,310 --> 00:20:18,630 S4: Lord willing, as long as I can. I enjoy what 367 00:20:18,630 --> 00:20:24,500 S4: I'm doing. Um, my question is, is, I'm taking my 368 00:20:24,500 --> 00:20:28,300 S4: Social Security money and it's just in a bank checking 369 00:20:28,340 --> 00:20:32,900 S4: account at my bank. And I know I'm just a 370 00:20:32,900 --> 00:20:38,220 S4: very financially literate. And so my question would be what 371 00:20:38,300 --> 00:20:41,340 S4: what I could do with this money that I have 372 00:20:41,340 --> 00:20:44,260 S4: in the checking account that's just sitting there and putting 373 00:20:44,260 --> 00:20:48,740 S4: it in something where I would at least earn keep 374 00:20:48,740 --> 00:20:50,740 S4: up with inflation. Um. 375 00:20:51,740 --> 00:20:52,220 S1: Yes. 376 00:20:52,340 --> 00:20:56,660 S4: And that's what I was wondering. If you have any suggestions? 377 00:20:56,740 --> 00:20:59,180 S1: Yeah, I'd be happy to. A couple of questions for you. 378 00:20:59,220 --> 00:21:01,860 S1: Number one is do you have any kind of debt whatsoever? 379 00:21:02,260 --> 00:21:06,700 S4: Uh, no. I own my home outright. Um, I the only, 380 00:21:06,740 --> 00:21:10,139 S4: the only thing I have basically is just, uh, you know, 381 00:21:10,340 --> 00:21:14,699 S4: taxes and bills, you know, utilities, stuff like that. Got it. 382 00:21:14,780 --> 00:21:17,420 S4: Don't have any car payments. I really have no debt 383 00:21:17,420 --> 00:21:18,139 S4: to speak of. 384 00:21:18,580 --> 00:21:22,280 S1: All right. And, uh, do you already have an emergency fund? 385 00:21:22,280 --> 00:21:25,320 S1: Somewhere between 3 and 6 months. Expenses separate from this 386 00:21:25,320 --> 00:21:27,640 S1: amount you've been accumulating from Social Security? 387 00:21:28,880 --> 00:21:33,199 S4: Uh, no, I don't. Uh, okay. Well, I guess I 388 00:21:33,240 --> 00:21:36,080 S4: guess in my, my, I guess in my business checking account, 389 00:21:36,080 --> 00:21:38,920 S4: I would, I think I got about 6 or $7000 390 00:21:38,920 --> 00:21:39,760 S4: in there right now. 391 00:21:40,080 --> 00:21:42,800 S1: Yeah. All right. Great. This is really helpful. Let's do this. 392 00:21:42,800 --> 00:21:44,480 S1: I'm going to take a break. Joe, when we come back, 393 00:21:44,480 --> 00:21:46,840 S1: we'll talk about some options on what you can do 394 00:21:46,840 --> 00:21:49,480 S1: with that. Uh, that growing balance there in your checking. 395 00:21:49,680 --> 00:21:52,000 S1: This is faith in finance. Live. Back with more questions 396 00:21:52,000 --> 00:22:01,480 S1: right after this. Hey, thanks for joining us today on 397 00:22:01,480 --> 00:22:03,879 S1: Faith and finance live here on Moody Radio. Before the 398 00:22:03,880 --> 00:22:07,800 S1: break we were talking to Joe in California. He's 71, self-employed. 399 00:22:07,920 --> 00:22:10,919 S1: Loves his work, plans to continue to work for the 400 00:22:10,920 --> 00:22:15,120 S1: foreseeable future. He's taking Social Security and he's just wondering 401 00:22:15,119 --> 00:22:18,200 S1: where he should put that. That's just continuing to accrue 402 00:22:18,200 --> 00:22:21,910 S1: in his checking account. He's really not earning anything on it, 403 00:22:22,030 --> 00:22:24,070 S1: and he's wondering if he should put it in a 404 00:22:24,070 --> 00:22:26,870 S1: savings account or something else. And, uh, Joe, I know 405 00:22:26,869 --> 00:22:30,149 S1: you said in your self-employment, uh, in your company, you've 406 00:22:30,150 --> 00:22:33,550 S1: got some reserves, and that's great. You know, every business 407 00:22:33,550 --> 00:22:37,070 S1: needs reserves. I'd probably encourage you to have your own 408 00:22:37,230 --> 00:22:40,910 S1: liquid reserves. Personally, that's a little, you know, easier to 409 00:22:40,950 --> 00:22:43,790 S1: access and where you've got a clear separation between your 410 00:22:43,790 --> 00:22:47,510 S1: business and your personal finances, which is also important for 411 00:22:47,510 --> 00:22:50,590 S1: tax purposes, just so you can, you know, really clearly 412 00:22:50,590 --> 00:22:54,270 S1: document what's truly a business expense and what's personal. That 413 00:22:54,270 --> 00:22:57,989 S1: just creates for better reporting and allows you to, you know, 414 00:22:58,030 --> 00:23:01,869 S1: document anything you're claiming as a deduction on your taxes 415 00:23:01,869 --> 00:23:06,510 S1: by having that separation and for your personal, uh, reserves 416 00:23:06,510 --> 00:23:09,030 S1: or your emergency fund. I'd recommend you have, in this 417 00:23:09,030 --> 00:23:12,869 S1: season of life, probably six months worth of expenses. What 418 00:23:12,869 --> 00:23:15,270 S1: do you typically spend? I know you're living modestly, but 419 00:23:15,270 --> 00:23:18,020 S1: what are your total bills in a given month? typically. 420 00:23:18,980 --> 00:23:22,740 S4: Oh, I'd say about four. Oh, no, not that much. Um, 421 00:23:24,020 --> 00:23:26,380 S4: 25 to $3000 a month. 422 00:23:26,700 --> 00:23:29,660 S1: Okay, so let's say it's 3000. You know, six months 423 00:23:29,660 --> 00:23:32,500 S1: would be 18,000. So I think that might be a 424 00:23:32,500 --> 00:23:35,219 S1: good initial goal. Where would you put that? Well, I 425 00:23:35,220 --> 00:23:37,260 S1: wouldn't keep that in your checking, you know, paying you 426 00:23:37,300 --> 00:23:40,859 S1: virtually nothing. I'd look for a high yield savings account. 427 00:23:40,900 --> 00:23:43,060 S1: I mean, a lot of our listeners are using our 428 00:23:43,060 --> 00:23:46,380 S1: friends at Christian Community Credit Union. They're the largest Christian 429 00:23:46,380 --> 00:23:50,020 S1: credit union in the country. You can open the account digitally, 430 00:23:50,020 --> 00:23:53,580 S1: link it up to your checking account electronically, and then 431 00:23:53,580 --> 00:23:56,580 S1: just move the money, you know, back and forth as needed. 432 00:23:56,940 --> 00:23:59,540 S1: They would align with your values and you know they're 433 00:23:59,540 --> 00:24:05,700 S1: paying 4% a year in their money market, up to $100,000. So, 434 00:24:05,740 --> 00:24:07,540 S1: you know, I think something like that would be a 435 00:24:07,540 --> 00:24:11,139 S1: great option for that emergency fund where you're getting a good, 436 00:24:11,180 --> 00:24:14,859 S1: you know, a nice yield on it. Um, but you 437 00:24:14,900 --> 00:24:18,570 S1: also have it safe and liquid. And then once you 438 00:24:18,609 --> 00:24:22,649 S1: fully fund that, if you continue to have surplus beyond that, 439 00:24:22,650 --> 00:24:24,170 S1: I think at that point you might want to look 440 00:24:24,170 --> 00:24:27,530 S1: at putting that in a Roth IRA. There's no age 441 00:24:27,530 --> 00:24:29,730 S1: limit to a Roth. And this is a great option 442 00:24:29,730 --> 00:24:32,370 S1: because you have to have earned income, which you do 443 00:24:32,650 --> 00:24:35,770 S1: through your self-employed earnings. You could put in, you know, 444 00:24:35,810 --> 00:24:39,969 S1: up to $8,000. And the nice thing about the Roth 445 00:24:39,970 --> 00:24:43,369 S1: is there's no required minimum distribution. So if you wanted 446 00:24:43,369 --> 00:24:45,890 S1: to actually invest it, you know, maybe put it in 447 00:24:45,930 --> 00:24:49,850 S1: a balanced mutual fund, a balance between stocks and bonds 448 00:24:49,850 --> 00:24:53,050 S1: and let it grow. It would grow tax free, which 449 00:24:53,050 --> 00:24:56,130 S1: would be an amazing blessing. And then at any point, 450 00:24:56,170 --> 00:24:58,210 S1: you know, down the road, it had to be it 451 00:24:58,210 --> 00:25:00,650 S1: would have to be open at least five years. You 452 00:25:00,650 --> 00:25:04,330 S1: can always take your original contributions back at any point. 453 00:25:04,330 --> 00:25:08,450 S1: But to get the tax free growth on the earnings, 454 00:25:08,650 --> 00:25:10,409 S1: you would have to wait five years. But then at 455 00:25:10,450 --> 00:25:13,090 S1: that point you could take that out tax free as well. 456 00:25:13,290 --> 00:25:14,919 S1: But give me your thoughts on all that. 457 00:25:15,240 --> 00:25:19,120 S4: Uh, it sounds great. Uh, now, the Christian Community Credit union. 458 00:25:19,119 --> 00:25:21,399 S4: Could I get a Roth IRA through them? 459 00:25:22,240 --> 00:25:26,840 S1: Uh, they don't do Roth IRAs, I don't believe. But 460 00:25:26,840 --> 00:25:30,399 S1: you could use Fidelity or Schwab. Those would probably be 461 00:25:30,400 --> 00:25:33,360 S1: the two that I would recommend. Um, and you could 462 00:25:33,359 --> 00:25:37,000 S1: open it very down. Yeah. Fidelity or Schwab. Either one 463 00:25:37,000 --> 00:25:39,160 S1: would be fine. You could open it in a few 464 00:25:39,160 --> 00:25:42,520 S1: minutes electronically, and then you could set up either a 465 00:25:42,520 --> 00:25:46,170 S1: systematic contribution like you're putting in, you know, 200 or 466 00:25:46,170 --> 00:25:49,080 S1: $300 a month, and then you'd pick a, you know, 467 00:25:49,119 --> 00:25:52,439 S1: a good, high quality mutual fund. And, um, if you 468 00:25:52,440 --> 00:25:55,320 S1: needed some suggestions on that, uh, you know, our friends 469 00:25:55,320 --> 00:25:58,360 S1: at Sound Mind Investing could help with that sound mind 470 00:25:58,359 --> 00:26:02,280 S1: investing org. Um, so I know I'm throwing a lot 471 00:26:02,280 --> 00:26:04,840 S1: at you here, but, um, you know, I think just 472 00:26:04,840 --> 00:26:07,040 S1: to simplify it, if you wanted to open a high 473 00:26:07,080 --> 00:26:10,280 S1: yield savings account, you could do that locally if you 474 00:26:10,320 --> 00:26:13,740 S1: found one or if you wanted to check out Christian 475 00:26:13,740 --> 00:26:18,420 S1: Community Credit Union, go to Faith Philly.com and you'll see 476 00:26:18,420 --> 00:26:21,980 S1: that right there on the page you get to. And 477 00:26:21,980 --> 00:26:26,500 S1: then for the Roth IRA, Fidelity or Schwab would be great. 478 00:26:26,700 --> 00:26:31,139 S1: And then, um, sound mind investing would be able to 479 00:26:31,140 --> 00:26:33,939 S1: help with the mutual funds that you would pick to 480 00:26:33,980 --> 00:26:37,660 S1: make it really simple and very low cost. And then 481 00:26:37,660 --> 00:26:41,260 S1: whatever you put in that Roth every month, you just automatically, 482 00:26:41,300 --> 00:26:43,940 S1: you know, invest it in whatever mutual fund you pick. 483 00:26:43,980 --> 00:26:47,540 S4: I see I'm writing all this down. Um, and what 484 00:26:47,540 --> 00:26:52,500 S4: I was, um, I'm I'm 71, as I mentioned, but 485 00:26:52,500 --> 00:26:56,540 S4: I'm a very health conscious person. Uh, my parents lived 486 00:26:56,540 --> 00:27:00,020 S4: to be in their late 80s, and I'm a lot more, uh, 487 00:27:00,140 --> 00:27:05,100 S4: I'm very health conscious. So I'm planning on, um, Lord willing, um, 488 00:27:05,100 --> 00:27:08,100 S4: to work, you know, who knows how long. So point 489 00:27:08,140 --> 00:27:11,130 S4: being with that Roth IRA, you said it. You'd want 490 00:27:11,130 --> 00:27:14,330 S4: it to be. Invest in that at least five years, 491 00:27:14,690 --> 00:27:17,890 S4: which goes by pretty quick. And I my I was 492 00:27:17,890 --> 00:27:21,050 S4: looking for something like this, just thinking that even at 493 00:27:21,050 --> 00:27:24,010 S4: my age, I could have it in there again, Lord willing. 494 00:27:24,010 --> 00:27:28,290 S4: Easily ten, 15 years. Whatever. Um, yeah. 495 00:27:28,530 --> 00:27:29,370 S1: Uh, yeah. 496 00:27:29,609 --> 00:27:32,290 S4: Because, uh, like I said, I can I'm going to 497 00:27:32,290 --> 00:27:36,170 S4: continue working. I like to work. Um, I've written everything 498 00:27:36,170 --> 00:27:38,410 S4: down that you've given me to. I wanted to have 499 00:27:38,410 --> 00:27:42,250 S4: a pen and pencil ready. Um, well, listen, I guess 500 00:27:42,250 --> 00:27:45,530 S4: that about does it, but I really appreciate your help. 501 00:27:45,570 --> 00:27:48,210 S4: And you're. I just wanted to mention one other thing 502 00:27:48,250 --> 00:27:51,130 S4: real quick. Sure. I think it's really. I think it's 503 00:27:51,130 --> 00:27:54,570 S4: really nice the way you and your team help people 504 00:27:54,570 --> 00:27:57,609 S4: out in the body of Christ, because that really, really 505 00:27:57,609 --> 00:27:58,730 S4: glorifies the Lord. 506 00:27:58,730 --> 00:28:01,649 S1: Well, I appreciate you saying that, Joe. It's a blessing 507 00:28:01,690 --> 00:28:04,530 S1: to be able to serve God's people every day. You're right. 508 00:28:04,530 --> 00:28:06,930 S1: They are amazing. The team that I get to work with, 509 00:28:07,130 --> 00:28:09,560 S1: and it's our privilege to be able to come alongside 510 00:28:09,560 --> 00:28:12,760 S1: you and help you along the way, because we're all 511 00:28:12,760 --> 00:28:15,360 S1: just trying to be found faithful. And, um, you know, 512 00:28:15,400 --> 00:28:19,320 S1: in this particular broadcast, it's faithful in our money management 513 00:28:19,359 --> 00:28:22,120 S1: handling God's money. So listen, all the best to you, 514 00:28:22,119 --> 00:28:24,359 S1: my friend. If if any other questions come up along 515 00:28:24,359 --> 00:28:26,840 S1: the way, don't hesitate to reach out. Call anytime. Lord 516 00:28:26,840 --> 00:28:29,399 S1: bless you. Uh, let's go to Missouri. Hi, Mary. Go ahead. 517 00:28:29,400 --> 00:28:33,960 S5: Hi. Um, I unwisely had a, um, bankruptcy. I wouldn't 518 00:28:33,960 --> 00:28:36,200 S5: I wouldn't do that today, but that's what happened ten 519 00:28:36,200 --> 00:28:38,840 S5: years ago. And I know that can affect that has 520 00:28:38,880 --> 00:28:40,959 S5: affected my credit rating. I was wondering, you know, when 521 00:28:40,960 --> 00:28:43,640 S5: you go look for an apartment, if they. Of course, 522 00:28:43,640 --> 00:28:45,760 S5: they're going to run your credit report. If you had 523 00:28:45,760 --> 00:28:48,240 S5: a job and went to the credit card companies and 524 00:28:48,240 --> 00:28:50,400 S5: tried to pay them back, do you think that what 525 00:28:50,400 --> 00:28:53,280 S5: can change your credit score, score for the better? 526 00:28:53,720 --> 00:28:57,680 S1: Yeah, yeah. So a bankruptcy on a credit report, um, 527 00:28:57,680 --> 00:29:00,120 S1: stays on for a chapter seven, ten years for a 528 00:29:00,120 --> 00:29:03,840 S1: chapter 13, seven years. Which type of bankruptcy did you have? 529 00:29:03,840 --> 00:29:05,120 S5: It was just personal. 530 00:29:05,560 --> 00:29:07,900 S1: Okay. Was it a chapter seven or did you have 531 00:29:07,900 --> 00:29:10,780 S1: a payment where you had to pay back some of it? 532 00:29:11,380 --> 00:29:13,300 S5: It was a chapter. It was. I didn't have to 533 00:29:13,300 --> 00:29:14,180 S5: pay back anything. 534 00:29:14,220 --> 00:29:16,980 S1: Yeah. So chapter seven. So that's on there ten years. 535 00:29:17,100 --> 00:29:20,219 S1: And then during that time, while it's on the report 536 00:29:20,220 --> 00:29:23,180 S1: for ten years, it's going to weigh less and less 537 00:29:23,420 --> 00:29:26,460 S1: as the years pass. And then once it drops off, 538 00:29:26,460 --> 00:29:28,979 S1: it no longer affects the score at all. So if 539 00:29:29,020 --> 00:29:32,340 S1: yours was ten years ago, it may already be falling 540 00:29:32,340 --> 00:29:35,300 S1: off or about to fall off, which is good news. Now, 541 00:29:35,340 --> 00:29:38,860 S1: does paying off your cards after bankruptcy help? Not in 542 00:29:38,860 --> 00:29:41,460 S1: the way most people think. I mean, generally you can't, quote, 543 00:29:41,500 --> 00:29:44,820 S1: pay off debts that were discharged. If you pay old 544 00:29:44,820 --> 00:29:49,980 S1: discharge debts, that doesn't, you know, remove the bankruptcy or 545 00:29:50,020 --> 00:29:54,980 S1: retroactively improve that part of the record. However, what does 546 00:29:54,980 --> 00:29:59,220 S1: help your score is on time payment since the bankruptcy. 547 00:29:59,220 --> 00:30:02,740 S1: That's going to be the biggest factor keeping your balance 548 00:30:02,740 --> 00:30:06,969 S1: low on any active accounts you have ideally under 10% 549 00:30:06,970 --> 00:30:11,810 S1: of the limit, um, the length of post-bankruptcy credit history. 550 00:30:11,810 --> 00:30:14,490 S1: So now that you're, you know, at ten years plus, 551 00:30:14,530 --> 00:30:16,610 S1: you're going to be in pretty good shape. And then 552 00:30:16,610 --> 00:30:19,130 S1: the mix of credit, uh, you also want to make 553 00:30:19,170 --> 00:30:22,290 S1: sure you have no new negative marks. And so I 554 00:30:22,290 --> 00:30:24,570 S1: think those are the key. Um, you may want to 555 00:30:24,570 --> 00:30:30,610 S1: go to annual credit report from Annualcreditreport.com, pull a copy 556 00:30:30,610 --> 00:30:33,410 S1: of each of the three reports and see what you 557 00:30:33,410 --> 00:30:35,970 S1: may find is just given the the length of time 558 00:30:35,970 --> 00:30:39,050 S1: that it's been that it's already fallen off. And if not, uh, 559 00:30:39,050 --> 00:30:41,450 S1: if it's been ten years, you can dispute it and 560 00:30:41,450 --> 00:30:44,170 S1: have it taken off. I hope that helps. We'll be 561 00:30:44,170 --> 00:30:53,930 S1: right back. Thanks for joining us today on Faith and 562 00:30:53,930 --> 00:30:57,170 S1: Finance Live. I'm Rob West. We're taking your calls and questions. 563 00:30:57,170 --> 00:30:59,930 S1: But here in this final segment Bob Dole is here. 564 00:30:59,930 --> 00:31:04,200 S1: Bob is our market guy. He's, uh, frequently on CNBC 565 00:31:04,200 --> 00:31:06,440 S1: and Fox business. He joins us each week with his 566 00:31:06,440 --> 00:31:10,720 S1: market commentary on this program. And, uh, Bob. Wow. It's 567 00:31:10,720 --> 00:31:15,440 S1: been wild. Uh, all the geopolitical tensions and tariffs. Uh, 568 00:31:15,440 --> 00:31:19,280 S1: good news today on India. But gold and silver and bitcoin. 569 00:31:19,280 --> 00:31:20,320 S1: What's going on there. 570 00:31:21,520 --> 00:31:24,479 S6: Well they were up on flagpoles as we've mentioned before. 571 00:31:24,520 --> 00:31:28,000 S6: And when that happens eventually you see the other side. 572 00:31:28,000 --> 00:31:33,320 S6: And so uh, uh, we've had some very significant corrective activity. Uh, 573 00:31:33,320 --> 00:31:35,200 S6: who knows where we go from here. My guess is 574 00:31:35,240 --> 00:31:38,120 S6: we've got to consolidate back. And Phil is the technician 575 00:31:38,120 --> 00:31:41,240 S6: calls it, and then we'll see. Um, but boy, were 576 00:31:41,240 --> 00:31:42,120 S6: they up on a spike. 577 00:31:42,560 --> 00:31:46,320 S1: Yeah. Boy, they sure were. And came down in a hurry. Um, Bob, 578 00:31:46,320 --> 00:31:51,040 S1: what is your take on the president's, uh, suggestion, uh, potential, 579 00:31:51,080 --> 00:31:53,760 S1: I guess, nomination for fed chairman? 580 00:31:54,640 --> 00:32:00,840 S6: Yeah. Um, Kevin Warsh, um, is a, uh, a confusing 581 00:32:01,070 --> 00:32:05,550 S6: figure in the following sense. He was for higher interest 582 00:32:05,590 --> 00:32:11,190 S6: rates and then became outspoken as a critic of the fed, 583 00:32:11,190 --> 00:32:15,390 S6: an advocate for lower rates. Most people, if you look 584 00:32:15,390 --> 00:32:21,350 S6: in his background, he has hawkish tendencies. Now, what comes 585 00:32:21,350 --> 00:32:24,990 S6: into play with Kevin is the balance sheet. He is 586 00:32:24,990 --> 00:32:27,550 S6: likely not to do a lot with interest rates, but 587 00:32:27,550 --> 00:32:31,510 S6: instead shrink the balance sheet, which is in effect, a 588 00:32:31,510 --> 00:32:34,630 S6: way to cut interest rates. Um, we'll we'll see how 589 00:32:34,630 --> 00:32:38,790 S6: that goes. And I remind everybody he's one vote. I 590 00:32:38,790 --> 00:32:42,110 S6: know he's the chair. And he will seek to influence 591 00:32:42,110 --> 00:32:45,870 S6: opinion and lead the discussion. But everybody gets an independent vote. 592 00:32:45,910 --> 00:32:49,310 S1: Yeah. No doubt about it. Well, an interesting choice. I mean, 593 00:32:49,350 --> 00:32:53,110 S1: he's definitely not I think what, what many were concerned 594 00:32:53,310 --> 00:32:55,750 S1: the president might put forward in terms of just an 595 00:32:55,750 --> 00:32:57,790 S1: automatic yes man. Is that right? 596 00:32:58,190 --> 00:33:01,300 S6: Exactly. That was the concern, the whole conversation about the 597 00:33:01,300 --> 00:33:05,380 S6: independence of the fed. Uh, and that, uh, with um, uh, 598 00:33:05,380 --> 00:33:09,420 S6: Kevin Warsh is largely taken away. So let's hope that holds. 599 00:33:09,420 --> 00:33:11,180 S6: We need independent fed. 600 00:33:11,780 --> 00:33:15,020 S1: Bob, you know, we've seen, uh, Canada and the European 601 00:33:15,020 --> 00:33:18,300 S1: Union out. Uh, you know, cutting deals in China and 602 00:33:18,300 --> 00:33:21,500 S1: India is a lot of this, uh, things that were 603 00:33:21,500 --> 00:33:24,380 S1: already in the works. Or is some of this a 604 00:33:24,420 --> 00:33:27,980 S1: direct response to the president and some of his, uh, 605 00:33:27,980 --> 00:33:29,700 S1: hemming and hawing around the tariffs? 606 00:33:30,500 --> 00:33:34,180 S6: Uh, certainly the latter. That is to say, these discussions 607 00:33:34,180 --> 00:33:38,580 S6: happen all the time and they usually do stalemates. But 608 00:33:38,580 --> 00:33:41,300 S6: my guess is some of the countries have come together 609 00:33:41,300 --> 00:33:44,340 S6: and said, you know, we can't have all our eggs 610 00:33:44,340 --> 00:33:47,500 S6: in the U.S. basket. Given what's happened. Let's, uh, let's 611 00:33:47,500 --> 00:33:50,260 S6: do a little talking. So that's my guess. And, uh, 612 00:33:50,300 --> 00:33:53,220 S6: you're going to see them exercise. That is the Europeans 613 00:33:53,260 --> 00:33:56,660 S6: exercise a little more independence, uh, in this part of 614 00:33:56,660 --> 00:33:57,500 S6: the conversation. 615 00:33:57,800 --> 00:34:02,040 S1: Yeah. Very good Bob. Obviously earnings season in full effect 616 00:34:02,080 --> 00:34:03,960 S1: right now. What do you make of what you're seeing. 617 00:34:04,760 --> 00:34:09,560 S6: So so far so reasonably good. I put that little 618 00:34:09,640 --> 00:34:13,600 S6: caveat on there reasonably because it's not perfect. Um, not 619 00:34:13,600 --> 00:34:16,640 S6: that any quarter is perfect, but we've had a string 620 00:34:16,680 --> 00:34:22,800 S6: of pretty incredible earnings, uh, seasons with earnings estimates moving 621 00:34:22,800 --> 00:34:26,160 S6: up now. It's just a bit more mixed. They're still good, 622 00:34:26,200 --> 00:34:29,120 S6: but they're not great. That's probably how I should say it. 623 00:34:29,360 --> 00:34:33,080 S1: Yeah I guess overall, Bob, you're still pretty optimistic about 624 00:34:33,080 --> 00:34:35,359 S1: this year. But you think more muted than last year. 625 00:34:35,360 --> 00:34:36,040 S1: Is that right? 626 00:34:36,560 --> 00:34:39,600 S6: Definitely. Um, you know we're using that phrase high risk 627 00:34:39,600 --> 00:34:42,880 S6: bull market. And, uh, I'm finding myself talking more about 628 00:34:42,880 --> 00:34:46,560 S6: the high risk, um, in conversations as people want to 629 00:34:46,560 --> 00:34:49,840 S6: know how high can stocks go? And the answer is, 630 00:34:49,880 --> 00:34:52,279 S6: as long as the earnings propel them higher and the 631 00:34:52,280 --> 00:34:56,029 S6: fed is in their court, um, the stock market will 632 00:34:56,070 --> 00:34:59,750 S6: be okay, but we'll shake. We'll shake that tree from 633 00:34:59,750 --> 00:35:01,310 S6: time to time during this year. Rob. 634 00:35:01,630 --> 00:35:04,710 S1: Yeah. Very good. Last thing, Bob. Just the US dollar 635 00:35:04,710 --> 00:35:07,590 S1: and what we're seeing there and, uh, you know, the 636 00:35:07,830 --> 00:35:11,750 S1: the trade away from the United States. Anything really concerning there? 637 00:35:12,190 --> 00:35:15,830 S6: Yeah. Um, let's see how much how many legs there 638 00:35:15,830 --> 00:35:17,989 S6: are to it. But it's all related to what we 639 00:35:17,989 --> 00:35:23,430 S6: talked about earlier. That is, um, people are allies, particularly Europeans. 640 00:35:23,469 --> 00:35:27,470 S6: You know, they they would they would wonder every word 641 00:35:27,469 --> 00:35:30,750 S6: that came out of any of our authorities mouths. Now, 642 00:35:30,750 --> 00:35:33,390 S6: they're not so sure they can trust all that. And 643 00:35:33,390 --> 00:35:37,870 S6: therefore they're exercising little independence, which means they're a little 644 00:35:37,870 --> 00:35:41,029 S6: less interested in having so much tied up in the dollar, 645 00:35:41,430 --> 00:35:44,109 S6: which is not great news for the currency or for 646 00:35:44,110 --> 00:35:47,830 S6: stocks or bonds. Keep your eye on this space very carefully. 647 00:35:47,989 --> 00:35:50,029 S1: Yeah, but as we've talked about before, there really is 648 00:35:50,030 --> 00:35:52,910 S1: no viable alternative, at least at this point. Right? 649 00:35:53,310 --> 00:35:56,580 S6: That's correct. So it's not as if, um, the dollar 650 00:35:56,580 --> 00:35:59,219 S6: gets threatened as the reserve currency of the world, but 651 00:35:59,219 --> 00:36:01,980 S6: that doesn't mean that the the Germans and the French 652 00:36:01,980 --> 00:36:04,700 S6: and the and the Brits, etc. might want a few 653 00:36:04,739 --> 00:36:07,820 S6: less dollars. So maybe they have to sell a stock 654 00:36:07,820 --> 00:36:10,100 S6: and a bond, uh, in order to achieve that. 655 00:36:10,540 --> 00:36:12,300 S1: Very good. Thanks for your time, sir. 656 00:36:12,780 --> 00:36:13,540 S6: All the best. 657 00:36:13,820 --> 00:36:16,339 S1: All right, that's Bob Dole. He's chief investment officer at 658 00:36:16,340 --> 00:36:19,700 S1: Crossmark Global Investments. He joins us each week with his 659 00:36:19,700 --> 00:36:22,380 S1: market commentary. All right. Let's, uh, before we round out 660 00:36:22,380 --> 00:36:24,940 S1: the broadcast today, let's head back to the phones. Marie 661 00:36:24,940 --> 00:36:26,100 S1: is in Florida. Go ahead. 662 00:36:27,739 --> 00:36:30,500 S7: Yes. Hi, Bob. Thank you for taking my call. 663 00:36:30,700 --> 00:36:31,180 S1: Of course. 664 00:36:31,260 --> 00:36:34,980 S7: Uh, I'm 82 years old. 82 years old. Retired, uh, 665 00:36:34,980 --> 00:36:38,940 S7: at a 401 K with my previous employer. I have. 666 00:36:39,020 --> 00:36:40,460 S7: It's not a lot of money. It's a lot of 667 00:36:40,460 --> 00:36:45,620 S7: money to me. Because it is. Anyway, uh, fidelity sent 668 00:36:45,620 --> 00:36:47,860 S7: me a letter. They are no longer going to service 669 00:36:47,900 --> 00:36:52,520 S7: my 401 K through that employer, the whole corporation, they 670 00:36:52,760 --> 00:36:56,080 S7: moved out of the whole corporation, and I don't know 671 00:36:56,080 --> 00:36:57,719 S7: what to do with that money. I have to move 672 00:36:57,719 --> 00:37:03,080 S7: it by the 23rd of February somewhere, either, um, somewhere 673 00:37:03,080 --> 00:37:08,719 S7: or another IRA or CDs. I have a I have 674 00:37:08,719 --> 00:37:13,839 S7: a savings, um, high interest savings already, and I don't 675 00:37:13,840 --> 00:37:16,279 S7: know what to do with this extra money. I have 676 00:37:16,280 --> 00:37:17,239 S7: to do something. 677 00:37:17,760 --> 00:37:21,040 S1: Got it. Um, so given that they're not going to 678 00:37:21,080 --> 00:37:23,719 S1: service your workplace plan anymore, you should be able to 679 00:37:23,760 --> 00:37:27,279 S1: roll it to or just move it to an IRA 680 00:37:27,280 --> 00:37:30,000 S1: on the retail side of fidelity. Have they given you 681 00:37:30,000 --> 00:37:30,719 S1: that option? 682 00:37:31,600 --> 00:37:33,560 S7: Yes. Yes they have. Yes they have. 683 00:37:33,600 --> 00:37:38,040 S1: Okay. Okay. Are you wanting to exit fidelity or are 684 00:37:38,040 --> 00:37:39,239 S1: you comfortable staying? 685 00:37:40,280 --> 00:37:42,759 S7: I'm okay with that. I just want to do what's 686 00:37:42,760 --> 00:37:48,160 S7: best for me. Yeah. Um, I did consult another investment friend. 687 00:37:48,200 --> 00:37:51,910 S7: Just a friend. And she, um, said that I should 688 00:37:51,910 --> 00:37:55,350 S7: put it into CDs. Like short term, six year, a 689 00:37:55,390 --> 00:37:58,430 S7: year CDs. Yeah, yeah. Due to my age. 690 00:37:59,070 --> 00:38:02,470 S1: Sure. But. Yeah. And what is the balance in this account? 691 00:38:02,510 --> 00:38:03,149 S1: How much do you have? 692 00:38:03,150 --> 00:38:05,589 S7: Roughly around 50. 693 00:38:06,030 --> 00:38:08,830 S1: Okay. Yeah. And you don't have any plans to touch 694 00:38:08,830 --> 00:38:10,950 S1: this for the foreseeable future. Is that right? 695 00:38:11,870 --> 00:38:12,750 S7: Right. Correct. 696 00:38:12,790 --> 00:38:17,270 S1: Yeah, yeah. Uh, you know, fidelity would be a fine choice. 697 00:38:17,270 --> 00:38:20,110 S1: You've got plenty of flexibility there in terms of what 698 00:38:20,110 --> 00:38:22,950 S1: investments you might select, and there's not going to be 699 00:38:22,950 --> 00:38:26,509 S1: any transfer costs which you may have if you move 700 00:38:26,510 --> 00:38:29,790 S1: it out to another institution. So I'd probably just allow 701 00:38:29,790 --> 00:38:34,110 S1: it to slide over, uh, to the retail side at fidelity. 702 00:38:34,390 --> 00:38:37,910 S1: And they give you plenty of availability of investment options. 703 00:38:37,910 --> 00:38:40,109 S1: I think at that point you just need to decide 704 00:38:40,350 --> 00:38:42,830 S1: kind of how much risk you want to take versus 705 00:38:42,989 --> 00:38:46,950 S1: the return you're looking for because you have your emergency fund. 706 00:38:47,150 --> 00:38:50,859 S1: You know, I think I mean, even at 82, I 707 00:38:50,900 --> 00:38:54,739 S1: would be comfortable with you having, you know, 20 to 30% 708 00:38:54,739 --> 00:38:59,060 S1: and and maybe a stock mutual fund. Uh, and then 709 00:38:59,100 --> 00:39:03,500 S1: maybe the balance, um, you know, 70 to 80% in 710 00:39:03,540 --> 00:39:06,859 S1: fixed income. So you could use a bond mutual fund, 711 00:39:07,020 --> 00:39:09,660 S1: you could use maybe a CD. Like you said, you 712 00:39:09,660 --> 00:39:13,339 S1: can use brokered CDs inside that fidelity account. And then 713 00:39:13,340 --> 00:39:16,060 S1: you could even use the fidelity government money market for 714 00:39:16,060 --> 00:39:18,500 S1: part of it. But the idea would be that through 715 00:39:18,500 --> 00:39:21,660 S1: the mixture of all three of those that that smaller 716 00:39:21,660 --> 00:39:24,459 S1: portion and a stock mutual fund, and then the much 717 00:39:24,460 --> 00:39:28,380 S1: larger portion of the 50,000 in maybe those brokered CDs, 718 00:39:28,380 --> 00:39:31,700 S1: the money market and, you know, maybe a short term 719 00:39:31,700 --> 00:39:34,500 S1: bond mutual fund, I think, you know, that could give 720 00:39:34,500 --> 00:39:37,780 S1: you a little bit better return or yield on the money, 721 00:39:37,780 --> 00:39:40,819 S1: let it grow a little bit to outpace inflation. And 722 00:39:40,820 --> 00:39:43,500 S1: then if you ever need it, it's fully accessible. But 723 00:39:43,500 --> 00:39:46,339 S1: if you wanted to stay out of stocks altogether, then 724 00:39:46,340 --> 00:39:49,370 S1: it would just be a matter of again inside that 725 00:39:49,370 --> 00:39:54,210 S1: fidelity IRA. Which is better because it doesn't become taxable, 726 00:39:54,210 --> 00:39:57,050 S1: which would be the case if you pulled it out. Um, 727 00:39:57,090 --> 00:39:59,489 S1: you know, you could put it all in, in brokered 728 00:39:59,489 --> 00:40:02,090 S1: CDs or money market and, and stay on the most 729 00:40:02,090 --> 00:40:05,009 S1: conservative end of the risk spectrum. But I think in 730 00:40:05,010 --> 00:40:07,170 S1: either case, leaving it there would allow you to accomplish 731 00:40:07,170 --> 00:40:07,850 S1: any of that. 732 00:40:07,890 --> 00:40:11,530 S7: Okay. Good advice. Yeah. I'm going to have to. 733 00:40:13,290 --> 00:40:13,689 S1: I'm sorry. 734 00:40:13,690 --> 00:40:14,009 S7: Go ahead. 735 00:40:14,890 --> 00:40:15,410 S1: Yeah. 736 00:40:15,450 --> 00:40:15,970 S7: Of course. 737 00:40:16,410 --> 00:40:18,690 S1: Yeah, I think that's right. And the key is, you know, 738 00:40:18,730 --> 00:40:21,570 S1: there's not a right or wrong answer here. It's ultimately 739 00:40:21,770 --> 00:40:23,730 S1: what is going to give you peace of mind and 740 00:40:23,730 --> 00:40:26,089 S1: meet your objectives. And it sounds like you're projecting your 741 00:40:26,090 --> 00:40:30,049 S1: objectives are you know, you're living modestly. You've got uh, 742 00:40:30,050 --> 00:40:32,689 S1: you know, you've got your emergency reserves and then you've 743 00:40:32,690 --> 00:40:36,290 S1: got this 50,000 and you don't want that to erode 744 00:40:36,290 --> 00:40:40,330 S1: in purchasing power because of inflation, you know, every month. 745 00:40:40,570 --> 00:40:43,210 S1: And so we want to make this work for you, 746 00:40:43,210 --> 00:40:46,239 S1: but we also don't want to take unnecessary risk. And 747 00:40:46,239 --> 00:40:48,280 S1: so I think that's the key. So does that mean 748 00:40:48,280 --> 00:40:52,359 S1: just 100% CDs. It could. Um, but do you add 749 00:40:52,360 --> 00:40:55,200 S1: some other things to it, like some bonds or even, 750 00:40:55,239 --> 00:40:58,160 S1: you know, a very small portion in stocks, again, with 751 00:40:58,160 --> 00:41:00,960 S1: a basket of investments like a mutual fund or exchange 752 00:41:00,960 --> 00:41:04,480 S1: traded funds? I think that could work for you and 753 00:41:04,480 --> 00:41:06,319 S1: work quite well. But at the end of the day, 754 00:41:06,320 --> 00:41:08,120 S1: you're the steward and you need to feel good about 755 00:41:08,120 --> 00:41:10,600 S1: what you're doing. But I think for the time being, 756 00:41:10,600 --> 00:41:13,640 S1: just sliding it over to the retail side, at least, 757 00:41:13,920 --> 00:41:16,640 S1: you know, gets it out from under the the 401 758 00:41:16,640 --> 00:41:20,880 S1: K side or the retirement plan side and gives you options. 759 00:41:20,880 --> 00:41:22,719 S1: And then you can, you know, take your time and 760 00:41:22,719 --> 00:41:24,360 S1: think through it at that point okay. 761 00:41:24,719 --> 00:41:26,560 S7: Okay. Thank you Bob. 762 00:41:26,800 --> 00:41:28,759 S1: All right Marie, thanks for calling. And if I can 763 00:41:28,760 --> 00:41:31,640 S1: help further, just don't hesitate to reach out. May the 764 00:41:31,640 --> 00:41:33,719 S1: Lord bless you. Well, that's going to do it for 765 00:41:33,719 --> 00:41:37,080 S1: us today, folks. Really appreciate you being with us. We 766 00:41:37,080 --> 00:41:41,000 S1: did cover a lot of ground today. You know, ultimately 767 00:41:41,000 --> 00:41:44,700 S1: what it comes down to is how do I pursue 768 00:41:44,700 --> 00:41:47,779 S1: faithfulness with what passes through my hands, however little or 769 00:41:47,780 --> 00:41:50,660 S1: however much you may hear somebody on this broadcast that says, 770 00:41:50,900 --> 00:41:54,259 S1: you know, I have millions of dollars in a retirement account, 771 00:41:54,260 --> 00:41:58,739 S1: you may hear somebody else saying, I'm in a desperate situation. And, 772 00:41:59,100 --> 00:42:00,259 S1: you know, I don't know how I'm going to pay 773 00:42:00,260 --> 00:42:04,580 S1: these bills. And in both cases, it's really what is 774 00:42:04,580 --> 00:42:08,100 S1: the next faithful decision? It's not what should I do 775 00:42:08,100 --> 00:42:10,060 S1: with my money? It's Lord, what would you have me 776 00:42:10,100 --> 00:42:12,859 S1: to do with your money? And whether you're in a 777 00:42:12,860 --> 00:42:15,500 S1: season of plenty or a season of need, we can 778 00:42:15,500 --> 00:42:18,820 S1: trust God as our provider. We can live with contentment. 779 00:42:18,820 --> 00:42:21,459 S1: We can live with open hands. He will never leave 780 00:42:21,460 --> 00:42:23,380 S1: us or forsake us. If he's going to provide for 781 00:42:23,380 --> 00:42:25,900 S1: the birds of the air, he's certainly going to provide 782 00:42:25,900 --> 00:42:29,500 S1: for you and I his his child. It's relational more 783 00:42:29,500 --> 00:42:32,900 S1: than financial. Faith and Finance lives a partnership between Moody 784 00:42:32,900 --> 00:42:35,980 S1: Radio and Faith by Josh Taylor to Hira Omar and 785 00:42:36,060 --> 00:42:38,739 S1: everybody here at Faith. By making all this possible. We'll 786 00:42:38,739 --> 00:42:39,420 S1: see you tomorrow.