1 00:00:03,080 --> 00:00:06,560 S1: Today's version of Faith and finance live is prerecorded, so 2 00:00:06,559 --> 00:00:09,760 S1: our phone lines are not open. Long before we talk 3 00:00:09,800 --> 00:00:13,520 S1: about money, Scripture asks a deeper question what do we 4 00:00:13,520 --> 00:00:18,919 S1: truly value? Hi, I'm Rob West. Jesus says in Matthew 621, 5 00:00:18,920 --> 00:00:21,759 S1: for where your treasure is, there your heart will be also. 6 00:00:21,880 --> 00:00:26,440 S1: He's not just giving financial advice, he's revealing a spiritual truth. 7 00:00:26,680 --> 00:00:30,800 S1: Today we're talking about treasure, the kind that can't be lost, stolen, 8 00:00:30,800 --> 00:00:33,640 S1: or shaken. And we have some great calls lined up. 9 00:00:33,640 --> 00:00:36,199 S1: But we won't be taking your live calls today because 10 00:00:36,200 --> 00:00:40,440 S1: we're prerecorded. This is faith and finance. Live biblical wisdom 11 00:00:40,440 --> 00:00:46,560 S1: for your financial decisions. If you step into any home, 12 00:00:46,600 --> 00:00:50,120 S1: office or corner of the marketplace, you'll find that every 13 00:00:50,120 --> 00:00:53,840 S1: one of us is chasing something. Some of us chase wealth, 14 00:00:53,880 --> 00:00:58,320 S1: others chase freedom, comfort, reputation, or security. When you peel 15 00:00:58,320 --> 00:01:01,670 S1: it back, the pursuit of treasure shows up in what 16 00:01:01,670 --> 00:01:05,670 S1: we sacrifice for, dream about and worry over money is 17 00:01:05,670 --> 00:01:10,550 S1: particularly pervasive in this hunt. It offers the illusion of salvation. 18 00:01:10,550 --> 00:01:14,710 S1: If you have enough. You'll feel safe, in control, prepared, 19 00:01:14,709 --> 00:01:18,710 S1: and even untouchable. And there's a paradox the more we have, 20 00:01:18,750 --> 00:01:21,870 S1: the more we fear losing. The more we accumulate, the 21 00:01:21,870 --> 00:01:25,990 S1: more anxious we become about protecting it. What once promised 22 00:01:25,990 --> 00:01:29,789 S1: freedom begins to feel like slavery. The problem isn't that 23 00:01:29,790 --> 00:01:33,150 S1: money is bad. Money is a good tool. The problem 24 00:01:33,150 --> 00:01:36,229 S1: is that our hearts quietly ask money to do what 25 00:01:36,270 --> 00:01:41,069 S1: only God can do. Save, secure and satisfy. This is 26 00:01:41,069 --> 00:01:44,870 S1: why Jesus cares so deeply about treasure. Not because he's 27 00:01:44,870 --> 00:01:48,510 S1: opposed to wealth, but because wealth competes for what he 28 00:01:48,510 --> 00:01:53,750 S1: alone deserves. Our trust. Treasure reveals what we worship. Now, 29 00:01:53,790 --> 00:01:57,670 S1: many Christians assume the way out is simply to give more. And. 30 00:01:57,740 --> 00:02:01,580 S1: generosity is good. It's celebrated in Scripture and frees us 31 00:02:01,580 --> 00:02:05,540 S1: to participate in God's work. But Jesus doesn't treat giving 32 00:02:05,540 --> 00:02:09,700 S1: as a formula. He treats it as a diagnosis. Generosity 33 00:02:09,700 --> 00:02:13,540 S1: can reveal the heart, but it doesn't automatically transform it. 34 00:02:13,700 --> 00:02:17,500 S1: Consider the day Jesus watched wealthy donors place large sums 35 00:02:17,500 --> 00:02:20,900 S1: into the temple treasury. It must have looked impressive, but 36 00:02:20,900 --> 00:02:24,380 S1: his attention drifted to a poor widow who dropped in 37 00:02:24,419 --> 00:02:29,100 S1: two small coins, almost too insignificant to notice. The wealthy 38 00:02:29,100 --> 00:02:33,020 S1: gave without surrender. The widow gave without a safety net. 39 00:02:33,380 --> 00:02:36,860 S1: The wealthy gave out a surplus. She gave out of trust. 40 00:02:37,060 --> 00:02:42,500 S1: Her gift was worship. Not performance, not philanthropy, not spiritual signaling. 41 00:02:42,660 --> 00:02:47,140 S1: She was treasuring God above security, above optics, above fear. 42 00:02:47,500 --> 00:02:51,220 S1: Jesus presses this theme further when he rebukes the Pharisees 43 00:02:51,220 --> 00:02:56,299 S1: for tithing their herbs with mathematical precision, while neglecting the 44 00:02:56,300 --> 00:03:01,180 S1: weightier matters of the law, justice, mercy and faithfulness. Their 45 00:03:01,180 --> 00:03:05,340 S1: giving was meticulous, but their hearts were misplaced. They treasured 46 00:03:05,340 --> 00:03:09,460 S1: reputation more than righteousness. If the act of giving itself 47 00:03:09,460 --> 00:03:11,980 S1: could break the love of money, the Pharisees would have 48 00:03:11,980 --> 00:03:15,380 S1: been the freest people in Israel. But they weren't. Because 49 00:03:15,419 --> 00:03:18,739 S1: freedom doesn't come from giving more. It comes from loving 50 00:03:18,740 --> 00:03:23,540 S1: Christ most. This is where treasure becomes spiritual. It's not 51 00:03:23,540 --> 00:03:28,300 S1: just about budgets or portfolios. It's about worship. Wealth becomes 52 00:03:28,300 --> 00:03:31,579 S1: dangerous not when we possess it, but when we believe 53 00:03:31,580 --> 00:03:35,500 S1: it possesses the power to secure our future. Once control 54 00:03:35,500 --> 00:03:40,540 S1: becomes our Savior, anxiety becomes our companion. That's why Jesus 55 00:03:40,580 --> 00:03:43,700 S1: warns that we cannot serve both God and money. A 56 00:03:43,700 --> 00:03:47,820 S1: divided heart is an enslaved heart. But Jesus doesn't just 57 00:03:47,820 --> 00:03:51,780 S1: warn them. He invites in Matthew 13. He describes a 58 00:03:51,780 --> 00:03:54,500 S1: man who discovers a treasure hidden in a field and 59 00:03:54,500 --> 00:03:57,930 S1: in his joy sells everything he has to buy it. 60 00:03:58,010 --> 00:04:02,650 S1: He isn't reluctant or grieving the loss. He isn't calculating cost. 61 00:04:02,690 --> 00:04:06,330 S1: He's thrilled because for the first time, he sees clearly 62 00:04:06,330 --> 00:04:10,690 S1: what is most valuable. He isn't losing. He's gaining. That's 63 00:04:10,690 --> 00:04:14,650 S1: what happens when Christ becomes our treasure. Everything else takes 64 00:04:14,650 --> 00:04:18,450 S1: its proper place. Wealth becomes a tool, not a master. 65 00:04:18,450 --> 00:04:23,529 S1: Enjoyment becomes gratitude. Instead of entitlement, generosity flows from joy 66 00:04:23,529 --> 00:04:28,290 S1: rather than guilt, and stewardship becomes participation in God's work 67 00:04:28,290 --> 00:04:32,330 S1: instead of anxiety about our own. But here's the twist 68 00:04:32,330 --> 00:04:36,130 S1: to the treasure story. While we were searching for treasure, 69 00:04:36,170 --> 00:04:40,210 S1: the greatest treasure came searching for us. Jesus didn't merely 70 00:04:40,210 --> 00:04:44,050 S1: tell stories about treasure, he became the treasure who gave 71 00:04:44,050 --> 00:04:48,210 S1: everything to purchase us. Hebrews 12 two says, he endured 72 00:04:48,210 --> 00:04:51,650 S1: the cross for the joy set before him. That joy 73 00:04:51,650 --> 00:04:55,720 S1: was gaining us. The gospel isn't ultimately a call to 74 00:04:55,760 --> 00:04:59,160 S1: surrender treasure, but to receive a greater one. So the 75 00:04:59,160 --> 00:05:02,800 S1: question is not whether you treasure something you do. The 76 00:05:02,800 --> 00:05:09,000 S1: question is who. Earthly treasures demand protection. Christ alone protects us, 77 00:05:09,000 --> 00:05:11,640 S1: and when he becomes our treasure, we live with a 78 00:05:11,640 --> 00:05:15,480 S1: confidence no market can shake and a wealth no thief 79 00:05:15,480 --> 00:05:19,280 S1: can take. I hope you think and pray about that today. 80 00:05:19,640 --> 00:05:21,479 S1: All right, a quick break and then back with your 81 00:05:21,480 --> 00:05:36,240 S1: phone calls. Stick around. Well, each day we gather together 82 00:05:36,240 --> 00:05:38,839 S1: on this program to make much of God and to 83 00:05:38,880 --> 00:05:42,560 S1: talk about our role in managing his resources. We're stewards, 84 00:05:42,560 --> 00:05:45,760 S1: you and I. We don't own anything. God owns everything. 85 00:05:45,760 --> 00:05:48,799 S1: And that's a game changer in terms of our money management. 86 00:05:48,800 --> 00:05:52,909 S1: Our goal. Well done, good and faithful servant. Faithful management 87 00:05:52,910 --> 00:05:55,750 S1: of God's resources over a lifetime. Now we're all going 88 00:05:55,790 --> 00:05:58,390 S1: to make mistakes along the way, and we put that 89 00:05:58,390 --> 00:06:00,150 S1: at the foot of the cross. God is in the 90 00:06:00,150 --> 00:06:04,109 S1: business of restoration, but we surrender. We hold it loosely. 91 00:06:04,110 --> 00:06:08,510 S1: And yes, we choose contentment. We find contentment in Christ, 92 00:06:08,550 --> 00:06:10,950 S1: not money. And when we do, when he is our 93 00:06:10,950 --> 00:06:14,830 S1: ultimate treasure, well, we live within. His provision doesn't mean 94 00:06:14,830 --> 00:06:17,070 S1: we try. Don't try to get a raise and improve 95 00:06:17,070 --> 00:06:20,310 S1: our situation and earn a little bit more. Because remember, 96 00:06:20,550 --> 00:06:23,310 S1: part of God's design for the money he's entrusted to 97 00:06:23,350 --> 00:06:25,670 S1: us is our enjoyment. That's not a bad thing. This 98 00:06:25,670 --> 00:06:30,190 S1: is not about necessarily choosing to go without. It's really 99 00:06:30,190 --> 00:06:34,390 S1: understanding that it's it's the glorification of God bringing God 100 00:06:34,390 --> 00:06:37,790 S1: glory through our money management is our ultimate goal. And wow, 101 00:06:37,830 --> 00:06:40,910 S1: what a powerful opportunity we have when we give to 102 00:06:40,950 --> 00:06:43,790 S1: the causes on the heart of God. When we invest 103 00:06:43,790 --> 00:06:48,270 S1: strategically to promote human flourishing and to create a virtuous 104 00:06:48,270 --> 00:06:52,990 S1: cycle of economic expansion and flourishing and and giving back 105 00:06:52,990 --> 00:06:55,790 S1: to the Lord that created all of us. That's the 106 00:06:55,790 --> 00:06:58,750 S1: big picture we want to paint each day and encourage 107 00:06:58,750 --> 00:07:01,510 S1: you in as you join us on this broadcast. And 108 00:07:01,510 --> 00:07:03,830 S1: so let's do that together, and we'd love to hear 109 00:07:03,830 --> 00:07:06,550 S1: from you with your questions today. Anything going on in 110 00:07:06,550 --> 00:07:09,350 S1: your financial life, whether it's how do I give wisely? 111 00:07:09,350 --> 00:07:12,150 S1: By the way, one of the best ways to give 112 00:07:12,190 --> 00:07:14,790 S1: effectively is through a donor advised fund. If you don't 113 00:07:14,790 --> 00:07:16,750 S1: have one or you don't know what it is, think 114 00:07:16,750 --> 00:07:19,390 S1: of it like a charitable checking account. As soon as 115 00:07:19,390 --> 00:07:22,750 S1: the money hits that charitable checking account, you've given it away. 116 00:07:22,750 --> 00:07:25,230 S1: You get an immediate tax deduction. And by the way, 117 00:07:25,230 --> 00:07:27,030 S1: you don't just have to put cash in it. You 118 00:07:27,030 --> 00:07:30,510 S1: could put stocks that have appreciated. You could put real estate, 119 00:07:30,550 --> 00:07:34,030 S1: a piece of business, a piece of art, livestock, you 120 00:07:34,070 --> 00:07:36,710 S1: name it. It can go into the donor advised fund 121 00:07:36,950 --> 00:07:39,390 S1: and then it can be sold in there without generating 122 00:07:39,390 --> 00:07:43,390 S1: any capital gains on the appreciation. And then you can 123 00:07:43,390 --> 00:07:45,990 S1: gift it out. You make grants and your donor advised 124 00:07:45,990 --> 00:07:49,190 S1: fund sponsor then sends the check. Well, we recommend the 125 00:07:49,190 --> 00:07:52,020 S1: National Christian Foundation. You can open what they call a 126 00:07:52,060 --> 00:07:57,940 S1: giving fund in less than three minutes. Just go to faith.com/nct. 127 00:07:58,380 --> 00:08:01,380 S1: By the way, National Christian Foundation is the oldest and 128 00:08:01,380 --> 00:08:05,100 S1: biggest in this space founded by, among others, Ron Blue, 129 00:08:05,140 --> 00:08:08,740 S1: Larry Burkett, know those names. They started it. And more 130 00:08:08,740 --> 00:08:12,900 S1: than $21 billion has flowed through there to churches and 131 00:08:12,900 --> 00:08:16,860 S1: tens of thousands of Christian ministries. It's amazing. So consider 132 00:08:16,860 --> 00:08:20,660 S1: opening your giving fund, basically a donor advised fund here 133 00:08:20,660 --> 00:08:25,060 S1: before the end of the year. Just head to faith fi.com/nc. 134 00:08:25,740 --> 00:08:28,780 S1: All right, let's dive in. Louisiana is where we're starting today. Regina. 135 00:08:28,780 --> 00:08:29,620 S1: How can I help you? 136 00:08:31,260 --> 00:08:35,740 S2: Um, yes, I was calling because I am trying to 137 00:08:35,740 --> 00:08:38,900 S2: work with an attorney right now. And actually, this is 138 00:08:38,900 --> 00:08:41,940 S2: the second one. I'm redoing my will and I want 139 00:08:41,940 --> 00:08:47,060 S2: my daughter to have my house when I pass away. Um, 140 00:08:47,340 --> 00:08:52,050 S2: and she's on SSDI. What do you recommend for me 141 00:08:52,050 --> 00:08:55,290 S2: to do? Because I keep getting different opinions as to 142 00:08:55,330 --> 00:08:59,330 S2: what to do from these attorneys, and I'm just not sure. 143 00:08:59,370 --> 00:09:03,210 S2: It's like they're not both saying the same thing. They're 144 00:09:03,210 --> 00:09:05,850 S2: talking about a trust. But I want to hear what 145 00:09:05,850 --> 00:09:08,290 S2: you have to say because I love listening to y'all. 146 00:09:08,410 --> 00:09:10,610 S1: Well, thank you. And let me just start by saying 147 00:09:10,610 --> 00:09:12,569 S1: I'm not an attorney, but I would love to talk 148 00:09:12,570 --> 00:09:15,290 S1: you through kind of how most people think about this. 149 00:09:16,090 --> 00:09:19,330 S1: So what you want to try to avoid is putting 150 00:09:19,330 --> 00:09:23,410 S1: the house in your child's name now. Uh, that could 151 00:09:23,410 --> 00:09:27,809 S1: hurt more than help both for taxes and the child's benefits. 152 00:09:27,929 --> 00:09:30,130 S1: So it's usually better to keep it in your name 153 00:09:30,130 --> 00:09:33,290 S1: and then let them inherit it later. Why? Well, first 154 00:09:33,290 --> 00:09:35,530 S1: of all, there's a loss in what's called the step 155 00:09:35,570 --> 00:09:38,530 S1: up in basis. So if she inherits the house after 156 00:09:38,530 --> 00:09:41,210 S1: you pass, she gets a step up in the cost 157 00:09:41,210 --> 00:09:44,690 S1: basis to the home's current market value. That means when 158 00:09:44,690 --> 00:09:48,400 S1: she sells, she'll likely o little or no capital gains, 159 00:09:48,679 --> 00:09:52,480 S1: or only on the appreciation from the point of your 160 00:09:52,480 --> 00:09:55,080 S1: passing in the current market value to whatever she sells 161 00:09:55,080 --> 00:09:58,640 S1: it for years later. If you gift it now, her 162 00:09:58,640 --> 00:10:01,520 S1: basis is your original purchase price, which could create a 163 00:10:01,520 --> 00:10:05,439 S1: large taxable gain later. Second, let's talk about the impact 164 00:10:05,440 --> 00:10:12,360 S1: on SSDI Social Security disability. Ownership doesn't affect those benefits. 165 00:10:12,520 --> 00:10:17,200 S1: SSDI is based on work history, not assets. Now, if 166 00:10:17,200 --> 00:10:23,199 S1: she's ever on SSI social, a Supplemental Security Income or Medicaid, 167 00:10:23,200 --> 00:10:27,320 S1: well then yes, owning property can disqualify her from benefits 168 00:10:27,320 --> 00:10:30,760 S1: but not SSDI. All right. And then the third issue 169 00:10:30,760 --> 00:10:33,319 S1: is the control and the flexibility. Once the home is 170 00:10:33,320 --> 00:10:36,160 S1: in her name, you lose control. And if she faced 171 00:10:36,160 --> 00:10:39,760 S1: a legal or financial or some other challenge, the home 172 00:10:39,760 --> 00:10:42,720 S1: could be exposed. So what is the better option? Well, 173 00:10:42,720 --> 00:10:46,189 S1: the better option is either a revocable living trust. And 174 00:10:46,190 --> 00:10:48,750 S1: it sounds like that's what's being suggested to you. Where 175 00:10:48,750 --> 00:10:51,350 S1: you keep control during your life and then pass the 176 00:10:51,350 --> 00:10:54,790 S1: house smoothly to her without probate, but also with that 177 00:10:54,790 --> 00:10:58,470 S1: step up in basis, depending on your state. I don't 178 00:10:58,470 --> 00:11:00,870 S1: know right off hand if Louisiana allows this, but a 179 00:11:00,870 --> 00:11:04,350 S1: Todd deed is another option in some states where you 180 00:11:04,350 --> 00:11:07,510 S1: can name her as the beneficiary, and then she automatically 181 00:11:07,510 --> 00:11:11,030 S1: receives it upon your passing and keeps that step up 182 00:11:11,030 --> 00:11:14,790 S1: in basis. No probate. And then the third would be 183 00:11:14,830 --> 00:11:20,510 S1: if she receives SSI, Supplemental Security Income or Medicaid now, 184 00:11:20,750 --> 00:11:24,670 S1: or she might in the future. A special needs trust 185 00:11:24,830 --> 00:11:29,550 S1: could protect her government benefits and allow her to hang 186 00:11:29,550 --> 00:11:32,310 S1: on to the property. And so that would be where 187 00:11:32,309 --> 00:11:35,510 S1: you'd want to go if that's, you know, potentially going 188 00:11:35,510 --> 00:11:37,550 S1: to be the case and, you know, in the future. 189 00:11:37,550 --> 00:11:39,949 S1: So is that helpful though, Regina? 190 00:11:41,309 --> 00:11:44,429 S2: Yes. And I just have one one more more question 191 00:11:44,429 --> 00:11:48,990 S2: concerning the house. I owe like seven years left on it, 192 00:11:48,990 --> 00:11:53,590 S2: and I wondered, should I pay it off now or just. 193 00:11:53,630 --> 00:11:56,270 S2: I mean, my interest rate is 3.75. 194 00:11:56,630 --> 00:11:58,949 S1: Yeah. Where is the money right now that you would 195 00:11:58,950 --> 00:12:00,070 S1: use to pay it off. 196 00:12:01,110 --> 00:12:02,990 S2: In a savings account? 197 00:12:03,309 --> 00:12:07,390 S1: Okay. Yeah. And what do you have in savings total? 198 00:12:07,910 --> 00:12:10,270 S2: Um, like about 40,000. 199 00:12:10,510 --> 00:12:12,910 S1: 40,000 in savings. What do you owe on the house? 200 00:12:13,309 --> 00:12:15,110 S2: Right around 40,000. 201 00:12:15,309 --> 00:12:17,630 S1: Okay. And you don't have any other liquid assets? 202 00:12:18,110 --> 00:12:19,030 S2: Um, yes, I do. 203 00:12:19,470 --> 00:12:21,110 S1: Okay. What are they? Investments? 204 00:12:21,510 --> 00:12:22,069 S2: Yes. 205 00:12:22,110 --> 00:12:23,910 S1: Okay. And you have quite a bit there. 206 00:12:24,470 --> 00:12:25,110 S2: Um. Yeah. 207 00:12:25,429 --> 00:12:28,190 S1: Okay. Yeah. I mean, I don't want you to be 208 00:12:28,190 --> 00:12:32,070 S1: without liquid. Uh, emergency funds. So if you say I 209 00:12:32,070 --> 00:12:34,510 S1: have 40,000 savings and I can pay off the house 210 00:12:34,510 --> 00:12:37,910 S1: for 40,000, I wouldn't do that. Number one, the the 211 00:12:37,950 --> 00:12:41,190 S1: interest rate is low. Number two, it would deplete all 212 00:12:41,230 --> 00:12:44,500 S1: of your liquid savings. Now you could say, well, but 213 00:12:44,500 --> 00:12:46,500 S1: then I'll have the mortgage payment every month or at 214 00:12:46,540 --> 00:12:48,579 S1: least the tax. You know, what was the principal and 215 00:12:48,580 --> 00:12:50,940 S1: interest that I could put into savings? And that's true. 216 00:12:51,100 --> 00:12:53,179 S1: I but you'd only have that if you pay it 217 00:12:53,179 --> 00:12:57,219 S1: off in full. And if you deplete everything, that's just 218 00:12:57,220 --> 00:13:00,699 S1: not a good situation. So I would probably keep paying 219 00:13:00,700 --> 00:13:03,740 S1: on it until you can save a bit more. So 220 00:13:03,740 --> 00:13:06,020 S1: that when you pay it off, you've still got at 221 00:13:06,059 --> 00:13:10,260 S1: least one month's expenses and then you can rebuild it 222 00:13:10,260 --> 00:13:13,500 S1: with the mortgage payment you're no longer making. And then 223 00:13:13,500 --> 00:13:16,300 S1: if you have plenty of other assets, that's great because 224 00:13:16,340 --> 00:13:19,260 S1: you know that will continue to provide you income. And 225 00:13:19,260 --> 00:13:21,300 S1: I love the idea of you owning your home outright. 226 00:13:21,300 --> 00:13:22,900 S1: I just wouldn't do it. Now if it's going to 227 00:13:22,900 --> 00:13:25,059 S1: deplete all of your liquid reserves. 228 00:13:26,260 --> 00:13:29,700 S2: Okay. All righty. Thank you so much. I appreciate your help. 229 00:13:29,700 --> 00:13:32,219 S2: And thank you all for being there to help everybody. 230 00:13:32,260 --> 00:13:34,060 S1: Delighted to do it. Regina, hang on the line. I'm 231 00:13:34,059 --> 00:13:35,900 S1: going to send you a gift. A copy of our 232 00:13:35,900 --> 00:13:38,500 S1: latest edition of Faithful Steward, our magazine. I think you'll 233 00:13:38,540 --> 00:13:41,689 S1: enjoy it. Uh, thanks for calling today. Lord bless you. Yeah. 234 00:13:41,690 --> 00:13:43,650 S1: Before we head to our break, you know, as I 235 00:13:43,690 --> 00:13:47,650 S1: read scripture, I see this big idea jumping off the 236 00:13:47,650 --> 00:13:51,689 S1: page around contentment. You know, I think as we consider 237 00:13:51,690 --> 00:13:54,449 S1: our role as stewards of God's money, we need to 238 00:13:54,490 --> 00:13:58,170 S1: foster this attitude that the apostle Paul talked about, and 239 00:13:58,170 --> 00:14:01,530 S1: that is contentment. Remember, he said that it's learned. I've 240 00:14:01,530 --> 00:14:03,650 S1: learned to be content. He was in a time of 241 00:14:03,650 --> 00:14:06,250 S1: plenty and in a time of need. And he learned 242 00:14:06,250 --> 00:14:09,569 S1: to be content in either of those. Contentment is a choice. 243 00:14:09,690 --> 00:14:12,890 S1: And when we increase our contentment, well, then we can 244 00:14:12,890 --> 00:14:15,689 S1: focus on what God has given us and not on 245 00:14:15,690 --> 00:14:18,210 S1: what he's given others. I hope that's an encouragement to 246 00:14:18,210 --> 00:14:21,090 S1: you today. Again, we're not here today. We're away from 247 00:14:21,090 --> 00:14:23,890 S1: the studio, so don't call in. But just around the corner, 248 00:14:23,890 --> 00:14:26,570 S1: we have some more questions to tackle. I know you're 249 00:14:26,570 --> 00:14:28,490 S1: going to enjoy the calls we have coming up. Stay 250 00:14:28,490 --> 00:14:35,970 S1: with us. We'll be right back. So glad to have 251 00:14:35,970 --> 00:14:38,610 S1: you with us today on Faith and Finance Live. I'm 252 00:14:38,610 --> 00:14:41,480 S1: Rob West. Hey, our team is away from the studio today, 253 00:14:41,480 --> 00:14:44,400 S1: so don't call in. But we lined up some great 254 00:14:44,400 --> 00:14:48,000 S1: questions in advance that I know you will enjoy. Before 255 00:14:48,000 --> 00:14:50,240 S1: we head back to the phones in the news, investor 256 00:14:50,240 --> 00:14:54,360 S1: demand for exchange traded funds. Whether what you may know 257 00:14:54,360 --> 00:14:58,840 S1: as ETFs is surging, as people seek lower cost, tax 258 00:14:58,840 --> 00:15:02,840 S1: efficient investments that are easy to trade. The ETF market 259 00:15:02,880 --> 00:15:09,800 S1: recently surpassed you ready for this $11 trillion, with 511 260 00:15:09,800 --> 00:15:13,800 S1: billion in inflows during the first half of 2025 alone. 261 00:15:13,800 --> 00:15:18,560 S1: Yet financial experts warn that many investors misunderstand what they're buying, 262 00:15:18,880 --> 00:15:23,720 S1: and mistakes can often and quietly erode long term returns. 263 00:15:23,960 --> 00:15:28,000 S1: Many investors follow the crowd into top performing ETFs without 264 00:15:28,000 --> 00:15:33,840 S1: considering whether it fits their investment goals. Similarly, trend hopping 265 00:15:33,840 --> 00:15:39,760 S1: into hot themes think artificial intelligence or crypto or right now. 266 00:15:39,800 --> 00:15:44,480 S1: Gold can lead to losses when markets cool. Another common 267 00:15:44,480 --> 00:15:49,560 S1: misstep is overlooking ETF expense ratios. Many investors pay more 268 00:15:49,600 --> 00:15:53,600 S1: than necessary for the same index, while others charge more. 269 00:15:53,760 --> 00:15:59,240 S1: Small differences like this can compound into significant costs over time. Now, 270 00:15:59,240 --> 00:16:05,400 S1: with the regulators considering new ETF share class structures, investors 271 00:16:05,400 --> 00:16:09,400 S1: could face even more choices soon. Advisors urge taking time 272 00:16:09,400 --> 00:16:13,240 S1: to understand each fund's structure, their cost and their purpose 273 00:16:13,240 --> 00:16:19,160 S1: before investing. As the ETF market expands, knowledge and discipline, 274 00:16:19,200 --> 00:16:23,840 S1: not trends, remain key to achieving long term financial success. 275 00:16:24,080 --> 00:16:27,080 S1: As Christ's followers, well, what's most important to consider is 276 00:16:27,080 --> 00:16:32,040 S1: that wise investing mirrors the principle of steady plodding. We 277 00:16:32,040 --> 00:16:34,680 S1: see that in Proverbs 21 five the plans of the 278 00:16:34,680 --> 00:16:38,390 S1: diligent lead surely to To abundance. But everyone who is 279 00:16:38,390 --> 00:16:42,870 S1: hasty comes only to poverty. You see, God's Word encourages 280 00:16:42,870 --> 00:16:48,710 S1: patience and diligence and faithfulness and diversification. Uh, over time, 281 00:16:48,710 --> 00:16:52,750 S1: not chasing quick gains. Uh, building wealth, God's way means 282 00:16:52,750 --> 00:16:55,950 S1: stewarding resources with wisdom and trusting him for the growth. 283 00:16:55,950 --> 00:17:00,190 S1: Remembering that slow and steady wins the race that also 284 00:17:00,190 --> 00:17:05,950 S1: honors both biblical wisdom and long term financial stability. So, uh, 285 00:17:05,950 --> 00:17:09,109 S1: just keep that in mind as you're, uh, seeking to invest. Now, 286 00:17:09,109 --> 00:17:12,550 S1: I will say ETFs have become a very efficient way 287 00:17:12,550 --> 00:17:16,550 S1: to invest as long as you're using that discipline and 288 00:17:16,590 --> 00:17:19,470 S1: especially those saying, you know what, I want that allocation 289 00:17:19,470 --> 00:17:24,790 S1: to precious metals or inside my precious metal allocation, I'd like, 290 00:17:24,830 --> 00:17:27,670 S1: you know, some exposure to Bitcoin. ETFs are a great 291 00:17:27,670 --> 00:17:30,469 S1: way to do that because you don't have the, you know, the, 292 00:17:30,470 --> 00:17:33,590 S1: the complicated wallets that come with the Bitcoin, you don't 293 00:17:33,590 --> 00:17:36,660 S1: have to take physical possession of the gold. It really 294 00:17:36,660 --> 00:17:40,460 S1: can be a great way to get started there. But again, 295 00:17:40,460 --> 00:17:42,940 S1: it's got to be a part of a well thought 296 00:17:42,940 --> 00:17:46,300 S1: out strategy that has proper diversification and is tied to 297 00:17:46,340 --> 00:17:50,460 S1: not the latest trend, not the latest trend, but your 298 00:17:50,460 --> 00:17:55,939 S1: specific goals and objectives. And that's where often for most people, 299 00:17:55,940 --> 00:17:58,820 S1: having an advisor who can come alongside you and make 300 00:17:58,820 --> 00:18:02,460 S1: those decisions for you is really critical. And what's exciting 301 00:18:02,460 --> 00:18:04,940 S1: is you can have an advisor who shares your values, 302 00:18:04,940 --> 00:18:08,540 S1: who understands the heart of God in Scripture, who understands 303 00:18:08,540 --> 00:18:11,700 S1: your Christian values, because he or she shares those values 304 00:18:11,700 --> 00:18:15,659 S1: as Christ followers, and they can bring God honoring investments 305 00:18:15,660 --> 00:18:19,460 S1: where the investments are screened out. Any companies that are 306 00:18:19,460 --> 00:18:22,179 S1: misaligned with your Christian values, and usually that's around the 307 00:18:22,180 --> 00:18:29,140 S1: big five, we call it, you know, abortion, pornography, gambling, uh, alcohol, uh, 308 00:18:29,140 --> 00:18:32,140 S1: you know, those would be the types of things that, uh, 309 00:18:32,140 --> 00:18:35,450 S1: that we would be screening out. You can also screen 310 00:18:35,450 --> 00:18:39,330 S1: in for Christian values and human flourishing. So this is 311 00:18:39,330 --> 00:18:41,209 S1: an exciting new space if you want to find an 312 00:18:41,210 --> 00:18:43,690 S1: advisor who can do that for you. Go to find 313 00:18:43,730 --> 00:18:49,850 S1: a k.com. That's find a c k.com that stands for 314 00:18:49,970 --> 00:18:54,570 S1: Certified Kingdom Advisor. Let's go to Louisiana. Hi, Johnny, how 315 00:18:54,570 --> 00:18:55,169 S1: can I help? 316 00:18:55,650 --> 00:18:58,449 S3: I have some stock money that I've been saving up 317 00:18:58,450 --> 00:19:00,090 S3: for a while. It's really just planning on using it 318 00:19:00,090 --> 00:19:02,689 S3: as part of my retirement. But I lost income a 319 00:19:02,690 --> 00:19:05,530 S3: couple of years ago and got in a little financial bind, 320 00:19:05,530 --> 00:19:07,490 S3: so I had to max out a credit card. And 321 00:19:07,490 --> 00:19:10,210 S3: so now it got sent to collections, but they're all 322 00:19:10,210 --> 00:19:12,449 S3: from the collection company is offering me to pay it 323 00:19:12,450 --> 00:19:14,730 S3: off at a lower amount if I pay a lump sum. 324 00:19:14,770 --> 00:19:16,770 S3: I'm not sure if they're willing to do monthly payments, 325 00:19:16,770 --> 00:19:18,689 S3: but I know they sent me a letter saying if 326 00:19:18,690 --> 00:19:21,370 S3: I pay a lump sum, they would take maybe only 327 00:19:21,369 --> 00:19:24,490 S3: like 75 or 80% of the total amount. And so 328 00:19:24,490 --> 00:19:26,010 S3: I was wondering what would be a good idea to 329 00:19:26,050 --> 00:19:29,810 S3: pull money out of that stock, uh, to pay up 330 00:19:29,810 --> 00:19:31,490 S3: to get that credit card debt out of the way? 331 00:19:31,530 --> 00:19:33,330 S3: Or is it better just to try to work out 332 00:19:33,330 --> 00:19:35,770 S3: a monthly payment plan and just leave my money in 333 00:19:35,770 --> 00:19:38,209 S3: my stock, where it's been growing pretty good since I 334 00:19:38,210 --> 00:19:38,930 S3: bought it. 335 00:19:38,930 --> 00:19:41,850 S1: Yeah. Gotcha. Yeah. I mean, you certainly could. And I 336 00:19:41,850 --> 00:19:44,050 S1: like the idea that they're willing to, you know, give 337 00:19:44,050 --> 00:19:46,730 S1: you a lower payoff. They may end up sending you 338 00:19:46,730 --> 00:19:49,210 S1: a 1099 for the difference between what you owe and 339 00:19:49,210 --> 00:19:52,889 S1: what they would settle for, which would make that taxable. 340 00:19:53,330 --> 00:19:55,930 S1: My preference, though, would be you leave the stocks right 341 00:19:55,930 --> 00:19:58,330 S1: where they are. You said they've been doing well. And 342 00:19:58,330 --> 00:20:00,250 S1: let's see if we can get this into a credit 343 00:20:00,250 --> 00:20:04,290 S1: counseling program. What we would hope is that it hasn't 344 00:20:04,290 --> 00:20:08,130 S1: been purchased by the collection agency. They're just acting on 345 00:20:08,130 --> 00:20:11,370 S1: behalf of the original creditor. And you could still work 346 00:20:11,369 --> 00:20:14,330 S1: with the original creditor, because if that's the case, through 347 00:20:14,330 --> 00:20:18,450 S1: credit counseling, they would call what's called reage the account. 348 00:20:18,450 --> 00:20:21,490 S1: So essentially the account would be brought current, and then 349 00:20:21,490 --> 00:20:24,290 S1: you would slide into a debt management program, which leaves 350 00:20:24,290 --> 00:20:26,970 S1: the debt right where it is. The account is either 351 00:20:26,970 --> 00:20:31,090 S1: closed or at least suspended, but the interest rate is dropped. 352 00:20:31,280 --> 00:20:34,160 S1: and that way you could get back. Current, but with 353 00:20:34,160 --> 00:20:36,199 S1: a lower interest rate, which means a lot more of 354 00:20:36,200 --> 00:20:39,240 S1: your monthly payment is now going to principal reduction. And 355 00:20:39,240 --> 00:20:41,359 S1: you don't have to pull the money out of the 356 00:20:41,359 --> 00:20:44,439 S1: the stocks. So I would probably start with that approach 357 00:20:44,440 --> 00:20:47,600 S1: just to see if our friends at Christian credit counselors 358 00:20:47,600 --> 00:20:51,800 S1: could work with the original creditor and get that reagent 359 00:20:51,800 --> 00:20:53,639 S1: slide you into that program. And the way you would 360 00:20:53,640 --> 00:20:57,480 S1: do that is go to Christian credit counselors.org. And then 361 00:20:57,480 --> 00:20:59,520 S1: if that just isn't going to work out and you 362 00:20:59,520 --> 00:21:02,520 S1: end up needing to pay the lump sum, you know, 363 00:21:02,560 --> 00:21:04,920 S1: that way at that point, you could look at what 364 00:21:04,960 --> 00:21:07,800 S1: assets you have available and then potentially pulling from the 365 00:21:07,800 --> 00:21:09,760 S1: stock portfolio. Does that make sense though? 366 00:21:10,359 --> 00:21:12,560 S3: Yeah. Yeah, definitely. So I think I tried to call 367 00:21:12,560 --> 00:21:15,000 S3: my the original creditor one day to work with them. 368 00:21:15,080 --> 00:21:17,640 S3: It has been, but it was, it's been like over 369 00:21:17,640 --> 00:21:19,719 S3: a year since I made a payment. And so I 370 00:21:19,720 --> 00:21:21,080 S3: think the last time I tried to call him, she 371 00:21:21,080 --> 00:21:24,200 S3: said it was just showing the account was closed. Yeah. 372 00:21:24,240 --> 00:21:27,640 S3: And that I needed to refer to the creditor or 373 00:21:27,680 --> 00:21:29,560 S3: the whoever. So I'm not sure if that means they 374 00:21:29,560 --> 00:21:30,830 S3: officially bought it. Yeah. 375 00:21:31,109 --> 00:21:33,270 S1: Yeah. Yeah. And so that may be the case now 376 00:21:33,270 --> 00:21:37,030 S1: there still may be an option. Uh, with regard to, 377 00:21:37,270 --> 00:21:39,750 S1: you know, sliding it into debt management. So it'd be 378 00:21:39,750 --> 00:21:42,869 S1: worth you reaching out to the, to Christian credit counselors 379 00:21:42,869 --> 00:21:46,230 S1: just to get their advice before you make that final decision. 380 00:21:46,830 --> 00:21:48,030 S3: Yeah, yeah. Okay. 381 00:21:48,350 --> 00:21:52,109 S1: All right. So that on the web, Christian credit counselors.org. 382 00:21:52,150 --> 00:21:54,070 S1: Let's let them take a look at it and then 383 00:21:54,109 --> 00:21:56,350 S1: see where we go from here. Thanks for your call today. 384 00:21:56,630 --> 00:21:57,910 S1: Back with more after this. 385 00:22:05,109 --> 00:22:09,030 S4: You're listening to Faith and finance live. This program is prerecorded. 386 00:22:09,030 --> 00:22:11,870 S4: So we're not available to answer your calls, but you 387 00:22:11,869 --> 00:22:16,750 S4: can email us your questions at Robin at free.com. 388 00:22:17,230 --> 00:22:19,590 S1: To Texas. Janie. Thanks for calling. Go ahead. 389 00:22:20,430 --> 00:22:25,230 S5: This is Janie and I'm wanting to ask, how should 390 00:22:25,230 --> 00:22:28,550 S5: I advise my granddaughter instead of her saving her cash 391 00:22:28,660 --> 00:22:31,300 S5: in an envelope or just having it in the bank 392 00:22:31,740 --> 00:22:34,899 S5: to invest. What's a good company to start investing with 393 00:22:34,900 --> 00:22:37,100 S5: where they don't ask you for a lot of money? 394 00:22:37,380 --> 00:22:41,060 S5: And as being conservatives, you know, I want to make 395 00:22:41,100 --> 00:22:42,700 S5: sure we choose a good company. 396 00:22:42,940 --> 00:22:46,420 S1: Yes. Yeah. Very good. Um, yeah, I love this. First 397 00:22:46,420 --> 00:22:48,860 S1: of all, Janie, that you're thinking about, uh, getting her 398 00:22:48,859 --> 00:22:52,699 S1: started early and learning the power of compound growth. I 399 00:22:52,700 --> 00:22:55,140 S1: think one key is to really think about the money 400 00:22:55,140 --> 00:22:58,980 S1: that she's accumulated in buckets. So we might think about 401 00:22:58,980 --> 00:23:04,140 S1: this as spend, give, invest because, you know, whatever we 402 00:23:04,140 --> 00:23:08,380 S1: invest or she invests, you know, with your help, um, 403 00:23:08,460 --> 00:23:10,540 S1: you're going to want to take a long term approach 404 00:23:10,540 --> 00:23:13,180 S1: because what we don't want to reinforce is the idea 405 00:23:13,180 --> 00:23:15,060 S1: that she would jump in and jump out and try 406 00:23:15,060 --> 00:23:18,419 S1: to make a quick, you know, gain is that really 407 00:23:18,420 --> 00:23:21,220 S1: this is about investing, is about the long term now. 408 00:23:21,260 --> 00:23:24,180 S1: It'd be fun for her to get into the investment 409 00:23:24,180 --> 00:23:26,980 S1: and learn about it, whether it's an individual stock by 410 00:23:27,020 --> 00:23:30,490 S1: by using fractional shares, a company that she knows and 411 00:23:30,490 --> 00:23:34,250 S1: maybe even likes or, you know, through just a, a 412 00:23:34,369 --> 00:23:37,530 S1: broadly diversified exchange traded fund that she can watch and 413 00:23:37,530 --> 00:23:39,970 S1: have some fun just getting to know the companies that 414 00:23:39,970 --> 00:23:42,090 S1: are in it. But we want her to stay with 415 00:23:42,090 --> 00:23:44,570 S1: it for the long haul. And so that's why carving 416 00:23:44,570 --> 00:23:48,650 S1: out the portion of this savings that's really for short 417 00:23:48,690 --> 00:23:51,609 S1: term spending, even if it's not right now, it, you know, 418 00:23:51,650 --> 00:23:54,969 S1: in the next, let's say six months. Um, and the 419 00:23:54,970 --> 00:23:57,609 S1: portion that she would want to give away, we wouldn't 420 00:23:57,609 --> 00:23:59,369 S1: want to tie up all of her money. And then, 421 00:23:59,410 --> 00:24:02,010 S1: you know, she's got something that she wants to buy and, 422 00:24:02,010 --> 00:24:03,850 S1: and she's having to sell it at a loss or 423 00:24:03,850 --> 00:24:06,890 S1: something like that. Now with that portion that she wants 424 00:24:06,890 --> 00:24:09,170 S1: to invest, then we've got to decide, okay, what type 425 00:24:09,170 --> 00:24:12,050 S1: of account do we want to open? And if she's 426 00:24:12,050 --> 00:24:14,530 S1: not working yet, then that's going to be a taxable 427 00:24:14,530 --> 00:24:18,410 S1: brokerage account. It could be a custodial account. So you 428 00:24:18,410 --> 00:24:21,690 S1: could open it for her. Um, but ultimately it's for 429 00:24:21,690 --> 00:24:25,130 S1: her benefit. And, and then it becomes her asset at 430 00:24:25,130 --> 00:24:28,330 S1: the age of majority, 18. But you would have control 431 00:24:28,330 --> 00:24:31,409 S1: over it until then. Um, or you could just open 432 00:24:31,410 --> 00:24:34,170 S1: an account in your name, but earmark it for her 433 00:24:34,170 --> 00:24:37,290 S1: with her money and everybody knows it's for her, but 434 00:24:37,290 --> 00:24:39,290 S1: you would control it and then you would be able 435 00:24:39,290 --> 00:24:42,370 S1: to determine not based on her age, but based on 436 00:24:42,369 --> 00:24:45,210 S1: when you think she's ready. You could control when you 437 00:24:45,210 --> 00:24:47,370 S1: turn it over to her down the road. But that's 438 00:24:47,369 --> 00:24:50,050 S1: the first question we've got to decide. Uh, you know, 439 00:24:50,090 --> 00:24:53,130 S1: what type of account and how much money. And then 440 00:24:53,130 --> 00:24:56,250 S1: the next step is to decide, okay, what investment are 441 00:24:56,250 --> 00:25:01,170 S1: we buying? And that's where you've got to decide, you know, 442 00:25:01,210 --> 00:25:04,530 S1: do you want to let her kind of pick the 443 00:25:04,530 --> 00:25:09,330 S1: companies based on companies she knows that she could research. And, 444 00:25:09,369 --> 00:25:12,330 S1: you know, she could understand this idea that I'm a 445 00:25:12,330 --> 00:25:16,530 S1: very small, but but very real owner of these companies, uh, 446 00:25:16,530 --> 00:25:19,410 S1: that I'm buying and a good app for that is 447 00:25:19,410 --> 00:25:24,600 S1: called stockpile. It allows kids and teens to start investing 448 00:25:24,600 --> 00:25:28,840 S1: with as little as $5 and they buy fractional shares. 449 00:25:28,840 --> 00:25:31,119 S1: And then you again would act as the Guardian because 450 00:25:31,119 --> 00:25:34,080 S1: it would be a custodial account. And, you know, she 451 00:25:34,080 --> 00:25:37,960 S1: could have some fun picking those investments. It doesn't teach 452 00:25:37,960 --> 00:25:40,760 S1: diversification because she's going to have all of her eggs 453 00:25:40,760 --> 00:25:44,199 S1: in 1 or 2 baskets. But it's something that kids 454 00:25:44,200 --> 00:25:46,680 S1: understand because they're like, wait a minute, I go to 455 00:25:46,720 --> 00:25:50,000 S1: XYZ company or I like their products. And so I'm 456 00:25:50,000 --> 00:25:52,199 S1: going to be an investor in it. And you know, 457 00:25:52,240 --> 00:25:55,719 S1: that's the idea behind stockpile. Now, if you would rather 458 00:25:55,720 --> 00:25:58,840 S1: her just buy an exchange traded fund, that's like a 459 00:25:58,840 --> 00:26:02,560 S1: basket of stocks where she may not know the companies, 460 00:26:02,560 --> 00:26:04,800 S1: but it's the idea that we just want to get 461 00:26:04,800 --> 00:26:07,640 S1: her started and we want to make this something she 462 00:26:07,640 --> 00:26:10,920 S1: can continue to use. Well, you know, that's probably where 463 00:26:10,920 --> 00:26:14,160 S1: you'd open an account at Charles Schwab or Fidelity, and 464 00:26:14,160 --> 00:26:17,040 S1: then you've got unlimited investment options and, you know, you 465 00:26:17,040 --> 00:26:20,560 S1: could even use an exchange traded fund from one of 466 00:26:20,560 --> 00:26:24,030 S1: the faith based investing Companies that we talk about on 467 00:26:24,030 --> 00:26:28,189 S1: this program all the time, like Crossmark and Eventide and 468 00:26:28,350 --> 00:26:32,629 S1: One Ascent and Timothy and Praxis and those types of companies. 469 00:26:32,630 --> 00:26:34,709 S1: So I've thrown a lot at you there. Give me 470 00:26:34,710 --> 00:26:35,790 S1: your thoughts on all this. 471 00:26:37,109 --> 00:26:40,629 S5: Well, um, I appreciate all that information. I've been writing, 472 00:26:40,670 --> 00:26:43,869 S5: taking notes right now. And, um, I forgot to mention 473 00:26:43,869 --> 00:26:45,629 S5: to you, she's already 19. 474 00:26:45,910 --> 00:26:48,750 S1: Okay. Okay. That's good. Yeah. I was thinking this was 475 00:26:48,790 --> 00:26:53,110 S1: a an elementary age child, so. Yeah. Is she working 476 00:26:53,109 --> 00:26:54,950 S1: or is she in college? What is she doing? 477 00:26:55,710 --> 00:26:56,790 S5: She's in college. 478 00:26:57,070 --> 00:26:59,070 S1: Okay. So she's not she doesn't have a job. 479 00:26:59,790 --> 00:27:03,030 S5: No, she still helps, uh, take care of the little 480 00:27:03,030 --> 00:27:06,109 S5: one when the little one comes home. She's doing online college. 481 00:27:06,150 --> 00:27:08,550 S1: Yeah. Cool. Yeah. All right. Well, as soon as she 482 00:27:08,550 --> 00:27:11,470 S1: starts working, she could start putting money in a Roth IRA. 483 00:27:11,470 --> 00:27:14,550 S1: And if she started a Roth at 19, where you 484 00:27:14,550 --> 00:27:16,790 S1: put in after tax money and then it grows tax 485 00:27:16,790 --> 00:27:20,470 S1: free for the next 45 years, that would be incredible. 486 00:27:20,510 --> 00:27:22,780 S1: I mean, that is the the most powerful tool. But 487 00:27:22,780 --> 00:27:26,100 S1: she has to have earned income from like wages or 488 00:27:26,100 --> 00:27:29,940 S1: self-employment or something like that. Um, but apart from that, 489 00:27:29,940 --> 00:27:32,820 S1: she's old enough now where, you know, she doesn't need 490 00:27:32,820 --> 00:27:36,020 S1: to use something like stockpile to buy fractional shares. She 491 00:27:36,020 --> 00:27:39,180 S1: wants to do some serious investing. I think, you know, 492 00:27:39,220 --> 00:27:41,899 S1: that's where she could use the what's called the Schwab 493 00:27:41,900 --> 00:27:46,060 S1: Intelligent portfolios. That would be a really simple low cost 494 00:27:46,060 --> 00:27:49,620 S1: way for her to get a, a nice diversified strategy 495 00:27:49,619 --> 00:27:52,740 S1: that's very low cost, very easy to set up. Um, 496 00:27:52,740 --> 00:27:56,180 S1: so let me give you two options. Schwab intelligent portfolios 497 00:27:56,180 --> 00:27:59,100 S1: or betterment. Either one of those I think would be 498 00:27:59,100 --> 00:28:00,820 S1: a great place for her to go next. 499 00:28:01,420 --> 00:28:05,060 S5: Awesome. Thank you very much. I greatly appreciate this. 500 00:28:05,100 --> 00:28:07,300 S1: Absolutely, Janie, all the best to you. You sound like 501 00:28:07,300 --> 00:28:10,140 S1: a fabulous grandmother. And we, uh, we're grateful for your 502 00:28:10,140 --> 00:28:12,660 S1: call today. Lord bless you. You know, folks, uh, one 503 00:28:12,660 --> 00:28:15,540 S1: of the things I've wanted for a long time is 504 00:28:15,820 --> 00:28:20,500 S1: these robo advisors make investing really simple because you go in, 505 00:28:20,500 --> 00:28:23,260 S1: open the account, you answer some questions, and then it 506 00:28:23,260 --> 00:28:27,340 S1: uses an algorithm. And this is for just investors who have, 507 00:28:27,380 --> 00:28:32,580 S1: let's say, less than $75,000. Um, and basically it builds 508 00:28:32,580 --> 00:28:36,100 S1: a low cost automated portfolio for you. And then as 509 00:28:36,100 --> 00:28:39,740 S1: you make contributions, it just automatically reinvests it and it's 510 00:28:39,740 --> 00:28:44,100 S1: constantly rebalancing it. It's really powerful technology, but there's not 511 00:28:44,140 --> 00:28:47,580 S1: one in that's a robo advisor that only uses faith 512 00:28:47,620 --> 00:28:50,540 S1: based investments. And a growing number of our audience want 513 00:28:50,580 --> 00:28:52,580 S1: to make sure that their investments are aligned with their 514 00:28:52,580 --> 00:28:55,940 S1: Christian values. Well, that's all changing. I can't tell you 515 00:28:55,940 --> 00:28:59,300 S1: the name yet. Um, I'm testing the what's called the 516 00:28:59,300 --> 00:29:02,420 S1: alpha version of it. It's a smartphone app. It's going 517 00:29:02,420 --> 00:29:05,420 S1: to be out if everything goes according to plan. Um, 518 00:29:05,420 --> 00:29:09,260 S1: and we're going to have the first robo advisor, uh, 519 00:29:09,620 --> 00:29:13,700 S1: for faith based investments where it uses exchange traded funds. 520 00:29:13,700 --> 00:29:17,660 S1: There'll be five model portfolios, but the only ETFs it 521 00:29:17,660 --> 00:29:22,410 S1: uses are from the faith based investing providers that we 522 00:29:22,970 --> 00:29:26,210 S1: know and love in this space. There's about 15 of 523 00:29:26,210 --> 00:29:28,530 S1: them and it's going to be amazing. And so I'm 524 00:29:28,530 --> 00:29:30,410 S1: really excited about it. You'll of course hear a lot 525 00:29:30,410 --> 00:29:34,370 S1: more about that in the days ahead. Let's go to Chicago. Hi, Tina. 526 00:29:34,810 --> 00:29:37,450 S6: Hi, how are you? Rob, thank you for taking my call. 527 00:29:37,490 --> 00:29:37,970 S1: Sure. 528 00:29:38,450 --> 00:29:40,370 S6: Your show has been a blessing to me. I've been 529 00:29:40,370 --> 00:29:41,610 S6: listening for years. 530 00:29:41,810 --> 00:29:42,530 S7: Well. Thank you. 531 00:29:42,570 --> 00:29:47,370 S6: My question is, I have been overpaid. Social security, SSDI. 532 00:29:47,810 --> 00:29:52,370 S6: I have been paid an overpayment and I'm paying it back. 533 00:29:52,690 --> 00:29:54,850 S6: And I wanted to know, do I have to have 534 00:29:54,850 --> 00:29:59,250 S6: all that repaid before I retire and get my retirement benefit? 535 00:29:59,610 --> 00:30:03,730 S1: I know they'll put you on a payment plan and 536 00:30:03,770 --> 00:30:08,770 S1: it can be extended into your retirement benefits once you switch, 537 00:30:09,090 --> 00:30:12,930 S1: and it wouldn't prevent you from receiving retirement benefits. It 538 00:30:12,930 --> 00:30:17,170 S1: will just reduce your benefits equal to that payment plan 539 00:30:17,480 --> 00:30:19,920 S1: that you have until it's all repaid fully. 540 00:30:20,760 --> 00:30:21,720 S7: Does that make sense? 541 00:30:22,240 --> 00:30:24,200 S6: It does. Thank you so much. 542 00:30:24,360 --> 00:30:25,000 S7: You're welcome. 543 00:30:25,040 --> 00:30:27,040 S1: Yeah. So I think the key is just make sure 544 00:30:27,040 --> 00:30:29,720 S1: you know what that payment plan is. If you don't 545 00:30:29,720 --> 00:30:31,560 S1: have one, you're going to want to talk to them 546 00:30:31,560 --> 00:30:34,560 S1: to get on a payment plan to ultimately repay it back. 547 00:30:34,560 --> 00:30:37,480 S1: Since you can't do that in a lump sum and 548 00:30:37,480 --> 00:30:41,000 S1: whatever that amount is, will just be reduced from your 549 00:30:41,000 --> 00:30:43,959 S1: retirement benefits when you get to that point. So hopefully 550 00:30:43,960 --> 00:30:46,640 S1: that helps you. We appreciate your call today. Just a 551 00:30:46,640 --> 00:30:49,360 S1: quick reminder, we're not here today, so don't call in, 552 00:30:49,360 --> 00:30:51,200 S1: but we're going to head to a break and much 553 00:30:51,200 --> 00:31:05,160 S1: more coming just after this. Stay with us. Thanks for 554 00:31:05,160 --> 00:31:07,600 S1: joining us today on Faith and Finance live here in 555 00:31:07,600 --> 00:31:10,480 S1: our final segment of the broadcast today. Let me remind you, 556 00:31:10,520 --> 00:31:12,800 S1: our team is not here, so don't call in. But 557 00:31:12,800 --> 00:31:15,360 S1: we lined up some great questions in advance. We'll get 558 00:31:15,360 --> 00:31:18,830 S1: to those in just a moment. Before we do, let 559 00:31:18,830 --> 00:31:22,230 S1: me remind you, if you haven't downloaded the Faith fi app, 560 00:31:22,230 --> 00:31:24,670 S1: we'd love for you to check it out. It's got 561 00:31:24,670 --> 00:31:27,230 S1: three sections in it. The first is the money management 562 00:31:27,230 --> 00:31:31,790 S1: system based on Larry Burkett's digital envelope system. It helps 563 00:31:31,790 --> 00:31:33,750 S1: you manage God's money in a way where you know 564 00:31:33,750 --> 00:31:37,510 S1: exactly what's left in each envelope at any point during 565 00:31:37,510 --> 00:31:40,190 S1: the month. There's also our learn tab, where you can 566 00:31:40,190 --> 00:31:43,750 S1: access the best content in biblical finance to grow in 567 00:31:43,750 --> 00:31:47,270 S1: your understanding of God's way of handling money and our community. 568 00:31:47,270 --> 00:31:50,710 S1: Where you can post questions, get comments and ideas from 569 00:31:50,710 --> 00:31:54,070 S1: other stewards on the journey. So download it today on 570 00:31:54,070 --> 00:31:59,030 S1: our website. Faith fi.com. Just click app. Now let's head 571 00:31:59,030 --> 00:32:01,670 S1: back to the phone calls we have lined up. Let's 572 00:32:01,670 --> 00:32:03,910 S1: go to Illinois Caprice. How can I help you? 573 00:32:04,830 --> 00:32:10,430 S8: Uh, my question is, um, about this dollar 2.0. And 574 00:32:10,430 --> 00:32:15,750 S8: this law it's s dot 1582. How will it affect, like, 575 00:32:15,790 --> 00:32:19,430 S8: our currency? I'm just I'm retired and I'm concerned about, 576 00:32:19,470 --> 00:32:21,710 S8: you know, the money that I do have saved. 577 00:32:22,230 --> 00:32:25,110 S1: Yeah. Do you have any crypto assets? 578 00:32:26,070 --> 00:32:27,630 S8: No, I do not have any. 579 00:32:28,070 --> 00:32:30,990 S1: So you're just mainly concerned about where money and payments 580 00:32:30,990 --> 00:32:32,310 S1: are headed. Is that right? 581 00:32:32,990 --> 00:32:33,630 S8: Yes. 582 00:32:33,670 --> 00:32:37,630 S1: Yeah. Yeah. I mean, it's a sign that Washington is 583 00:32:37,630 --> 00:32:42,710 S1: getting serious about regulating digital money. Um, and so, you know, 584 00:32:42,790 --> 00:32:46,190 S1: for somebody who's, you know, in the fourth quarter of life, 585 00:32:46,190 --> 00:32:50,150 S1: you're invested in stocks and bonds and traditional retirement income. 586 00:32:50,390 --> 00:32:53,590 S1: This new law really isn't something you need to be 587 00:32:53,590 --> 00:32:57,950 S1: concerned about. It's a law on what are called stablecoins. 588 00:32:57,950 --> 00:32:59,990 S1: And you might say, well, what in the world is that? Well, 589 00:33:00,350 --> 00:33:05,510 S1: a stablecoin is a type of cryptocurrency that's designed to 590 00:33:05,550 --> 00:33:08,790 S1: stay the same value. That's why they call it a stablecoin. 591 00:33:09,030 --> 00:33:13,420 S1: So it's usually pegged to the US dollar. So unlike Bitcoin, 592 00:33:13,420 --> 00:33:17,140 S1: which goes up and down, one stablecoin is meant to 593 00:33:17,180 --> 00:33:21,060 S1: always be worth about $1. So if you buy $100 594 00:33:21,060 --> 00:33:24,660 S1: worth of a stablecoin, you get a hundred digital tokens 595 00:33:24,660 --> 00:33:28,580 S1: backed by real dollars or short term treasuries held by 596 00:33:28,580 --> 00:33:31,340 S1: the issuer. And then you can use them for payments 597 00:33:31,340 --> 00:33:34,260 S1: or transfers, or you can, you know, use them just 598 00:33:34,260 --> 00:33:39,700 S1: to hold digital cash. But the goal is stability, not speculation. Um, 599 00:33:40,140 --> 00:33:43,100 S1: you know, so why would somebody have a stablecoin? Well, 600 00:33:43,300 --> 00:33:47,700 S1: its value isn't making money. It's moving money. So it's 601 00:33:47,700 --> 00:33:51,060 S1: like digital cash. It can travel instantly 24 over seven 602 00:33:51,060 --> 00:33:54,220 S1: anywhere in the world without going through banks. So people 603 00:33:54,220 --> 00:33:57,820 S1: use them because it's fast and cheap to transfer money 604 00:33:57,820 --> 00:34:03,300 S1: across borders in seconds, often with lower fees for access. 605 00:34:03,620 --> 00:34:06,060 S1: You know, they let people who don't have bank accounts 606 00:34:06,060 --> 00:34:10,420 S1: use digital dollars through apps or wallets. Trading and payments. 607 00:34:10,460 --> 00:34:14,530 S1: Programmable money so they can use them in digital contracts 608 00:34:14,530 --> 00:34:18,770 S1: or apps to make instant payments or provide rewards. So 609 00:34:18,770 --> 00:34:22,610 S1: that's how it's being used. Um, what is the challenge 610 00:34:22,610 --> 00:34:27,290 S1: with it? Uh, you know, as stablecoins become more integrated 611 00:34:27,290 --> 00:34:32,130 S1: into payments, financial, what you might call innovation may shift 612 00:34:32,130 --> 00:34:37,089 S1: how money moves. Again, faster payments, digital wallets. And that's 613 00:34:37,090 --> 00:34:40,890 S1: eventually going to, you know, affect how people transact or 614 00:34:40,890 --> 00:34:47,130 S1: hold funds. And then indirectly, greater regulation of digital assets 615 00:34:47,130 --> 00:34:52,969 S1: might increase trust in certain crypto systems, which could benefit 616 00:34:52,969 --> 00:34:56,570 S1: investors in that space. Um, but I think the big 617 00:34:56,570 --> 00:35:00,370 S1: idea here is that the Trump administration has been very 618 00:35:00,370 --> 00:35:04,290 S1: clear that they do not want, even though they're pro crypto. 619 00:35:04,770 --> 00:35:07,570 S1: And that's why you're seeing some of these regulations, including 620 00:35:07,570 --> 00:35:10,879 S1: this one you just referenced on the Stablecoins Act. They 621 00:35:10,960 --> 00:35:13,319 S1: have been very clear they don't want. And I think 622 00:35:13,320 --> 00:35:17,680 S1: for good reason, a central bank digital currency. This idea 623 00:35:17,680 --> 00:35:21,280 S1: that we would eventually get rid of paper dollars completely 624 00:35:21,440 --> 00:35:24,799 S1: and that every transaction would flow through the US Treasury, 625 00:35:24,920 --> 00:35:29,399 S1: which would give visibility and perhaps control over how we 626 00:35:29,400 --> 00:35:32,239 S1: use our money. And that's not a good thing. Um, 627 00:35:32,239 --> 00:35:35,160 S1: and President Trump has been very clear on that. So 628 00:35:35,480 --> 00:35:38,239 S1: I don't think this is necessarily a stepping stone in 629 00:35:38,280 --> 00:35:42,000 S1: that direction, at least based on, you know, the perspective 630 00:35:42,000 --> 00:35:44,360 S1: of current lawmakers. Does that make sense? 631 00:35:45,719 --> 00:35:48,080 S8: Yeah, a little bit. Uh, is there a resource, an 632 00:35:48,080 --> 00:35:51,239 S8: additional resource that you can share with me, uh, that 633 00:35:51,239 --> 00:35:53,480 S8: I can kind of get some more information? 634 00:35:53,520 --> 00:35:55,560 S1: Yeah, it's a good question. You know, I don't have 635 00:35:55,560 --> 00:35:59,400 S1: anything right offhand. I mean, there is so much out there. Um, 636 00:36:00,080 --> 00:36:02,600 S1: you know, we perhaps this is a topic we could 637 00:36:02,600 --> 00:36:04,880 S1: go do a deeper dive in with, uh, Mark Miller 638 00:36:04,880 --> 00:36:08,000 S1: from Sound of mind Investing. Uh, I'd love to hear 639 00:36:08,000 --> 00:36:12,230 S1: his take on where this is all headed with digital currency. Um, 640 00:36:12,270 --> 00:36:15,710 S1: but unfortunately, I don't have a resource for you at 641 00:36:15,710 --> 00:36:18,870 S1: the moment. Um, but I'll make a commitment to you 642 00:36:18,870 --> 00:36:21,390 S1: that we'll make it, uh, you know, a part of, uh, 643 00:36:21,390 --> 00:36:24,750 S1: one of our, uh, topics that opens the program here 644 00:36:24,750 --> 00:36:26,030 S1: in the near future. Okay. 645 00:36:26,790 --> 00:36:29,109 S8: Oh, that sounds wonderful. And you did help me. I 646 00:36:29,110 --> 00:36:31,390 S8: have a little bit more understanding. Thank you. And you 647 00:36:31,390 --> 00:36:32,350 S8: have a wonderful day. 648 00:36:32,390 --> 00:36:34,870 S1: You too. Caprice. Lord bless you. Thanks for calling today. 649 00:36:35,190 --> 00:36:38,430 S1: Let's go to Ohio. Hi, Carol. How can I help you? 650 00:36:39,469 --> 00:36:43,710 S9: Hi. Um, my dad passed away recently, and he left 651 00:36:43,710 --> 00:36:48,589 S9: me and my siblings some money in an IRA. And, um, 652 00:36:48,590 --> 00:36:50,950 S9: we were being told that we need to get an 653 00:36:50,950 --> 00:36:55,430 S9: inheritance IRA to transfer that money to. And I just 654 00:36:55,430 --> 00:36:59,629 S9: wanted to hear if you would explain what an inheritance 655 00:36:59,630 --> 00:37:02,549 S9: IRA is and if that's our only option or the 656 00:37:02,550 --> 00:37:05,710 S9: best option. Just kind of explain it. 657 00:37:05,870 --> 00:37:09,550 S1: Yeah. Happy to. too. Yeah. So when you inherit an IRA, 658 00:37:09,590 --> 00:37:12,750 S1: you don't take the money out directly. You open what's 659 00:37:12,750 --> 00:37:16,310 S1: called an inherited IRA in your name, so you can 660 00:37:16,310 --> 00:37:21,790 S1: move the funds safely and then avoid unnecessary taxes or penalties. 661 00:37:21,989 --> 00:37:25,509 S1: So basically an inherited IRA or sometimes it's called a 662 00:37:25,510 --> 00:37:29,350 S1: beneficiary IRA. It's a special account that receives the money 663 00:37:29,350 --> 00:37:33,230 S1: from the original owner's IRA after they pass. And then 664 00:37:33,230 --> 00:37:36,350 S1: the funds stay tax deferred, which means you don't owe 665 00:37:36,390 --> 00:37:39,950 S1: money taxes on them right away, which is important. And 666 00:37:39,950 --> 00:37:43,350 S1: you're required to open this new account in your own name, 667 00:37:43,550 --> 00:37:46,870 S1: you know, so it might be Ssmith. I'm just making 668 00:37:46,870 --> 00:37:52,470 S1: this up. Com-a beneficiary of John Smith's IRA. And so, 669 00:37:52,630 --> 00:37:55,790 S1: you know, that allows especially when there's multiple beneficiaries, like 670 00:37:55,790 --> 00:37:59,430 S1: you're describing here with the siblings, that allows everybody to 671 00:37:59,469 --> 00:38:03,550 S1: have their own inherited IRA that's in their name with 672 00:38:03,550 --> 00:38:06,380 S1: the portion of the account that was left to them. 673 00:38:06,900 --> 00:38:09,779 S1: And then you have certain rules as to how you 674 00:38:09,780 --> 00:38:12,100 S1: need to take it out. And those have changed recently. 675 00:38:12,100 --> 00:38:13,819 S1: So where do you go from here? What do you 676 00:38:13,820 --> 00:38:16,779 S1: need to do? Well, I would contact the financial institution 677 00:38:16,780 --> 00:38:19,780 S1: that holds your dad's IRA. And if you haven't already, 678 00:38:19,820 --> 00:38:22,020 S1: tell them you're a beneficiary and you want to open 679 00:38:22,020 --> 00:38:25,860 S1: an inherited IRA and then transfer the funds directly, don't 680 00:38:25,900 --> 00:38:29,580 S1: take a check payable to you personally. That would trigger taxes. 681 00:38:29,820 --> 00:38:32,660 S1: And then once the new account is set up, the custodian, 682 00:38:32,980 --> 00:38:36,500 S1: the company that the financial institution you call will guide 683 00:38:36,500 --> 00:38:40,900 S1: you through the withdrawal options. Now under Secure act 2.0, 684 00:38:41,340 --> 00:38:44,820 S1: which is the most recent law, the current law that 685 00:38:44,820 --> 00:38:49,420 S1: governs this. If your dad passed after 2019 and you're 686 00:38:49,420 --> 00:38:52,460 S1: not his spouse, clearly you're not. Then you likely have 687 00:38:52,460 --> 00:38:55,779 S1: to withdraw all the funds within ten years. Now, you 688 00:38:55,780 --> 00:38:58,339 S1: don't have to take the money every year, but it 689 00:38:58,340 --> 00:39:01,219 S1: all has to be withdrawn by the end of year ten. 690 00:39:01,580 --> 00:39:04,890 S1: And then every time you take a withdrawal, it becomes 691 00:39:04,890 --> 00:39:08,250 S1: taxable to you in that year. And that's often why 692 00:39:08,250 --> 00:39:10,569 S1: you want to spread it out because depending on how 693 00:39:10,570 --> 00:39:12,690 S1: much we're talking about, you may not want all of 694 00:39:12,730 --> 00:39:14,890 S1: that taxable in one year because it could push it 695 00:39:14,890 --> 00:39:20,089 S1: up into a higher tax bracket. So that's basically kind 696 00:39:20,090 --> 00:39:22,010 S1: of how it all works. Is that helpful though? 697 00:39:23,010 --> 00:39:26,450 S9: Um, yes. Does it cost anything to set one up? 698 00:39:27,210 --> 00:39:30,210 S1: No it shouldn't. Um, who is his custodian? Do you 699 00:39:30,210 --> 00:39:31,450 S1: know where the IRA is? 700 00:39:32,370 --> 00:39:36,530 S9: Um, no, my brother is the, um, kind of heads 701 00:39:36,530 --> 00:39:38,489 S9: up the whole financial thing. So. 702 00:39:38,530 --> 00:39:42,290 S1: Okay. No, it shouldn't cost anything. The question is, what 703 00:39:42,290 --> 00:39:45,290 S1: happens with it after that? So the cost that could 704 00:39:45,290 --> 00:39:48,370 S1: be incurred, incurred depending on where it is, is not 705 00:39:48,370 --> 00:39:50,370 S1: in opening it and transferring. I mean, there might be 706 00:39:50,370 --> 00:39:53,410 S1: a $50 transfer fee or something, but then it's a 707 00:39:53,410 --> 00:39:56,810 S1: matter of, okay, do they have ongoing kind of maintenance fees? 708 00:39:56,810 --> 00:39:59,210 S1: And then what are you going to invest it in? 709 00:39:59,610 --> 00:40:01,890 S1: And you know, that's where the costs are going to 710 00:40:01,890 --> 00:40:05,640 S1: start to come. And you should have control over that. Um, 711 00:40:06,280 --> 00:40:08,040 S1: you know, if you stuck it in money market, it 712 00:40:08,040 --> 00:40:10,399 S1: shouldn't be much cost. But if it's going to happen, 713 00:40:10,440 --> 00:40:11,799 S1: you know, if that money's going to sit there for 714 00:40:11,800 --> 00:40:14,799 S1: ten years, you want to get it invested. Um, and 715 00:40:14,800 --> 00:40:17,919 S1: then as it comes out of the inherited IRA, that's 716 00:40:17,920 --> 00:40:19,960 S1: when it's going to generate taxable income. 717 00:40:21,040 --> 00:40:25,680 S9: Okay. So this is money that I can use to invest. 718 00:40:25,840 --> 00:40:26,280 S1: Yes. 719 00:40:26,320 --> 00:40:28,120 S9: I've never done that before. So. 720 00:40:28,160 --> 00:40:30,920 S1: Okay. How much is your portion worth, if you don't 721 00:40:30,920 --> 00:40:31,680 S1: mind me asking? 722 00:40:32,200 --> 00:40:36,680 S9: We're not positive yet, but I would guess around 10,000. 723 00:40:36,719 --> 00:40:40,560 S1: Okay. Yeah. So once you get that inherited IRA open 724 00:40:40,560 --> 00:40:42,680 S1: and it gets funded with that 10,000, you're going to 725 00:40:42,680 --> 00:40:44,360 S1: have to get it out of there in ten years. 726 00:40:44,360 --> 00:40:46,319 S1: But you don't have to take it now. You could 727 00:40:46,320 --> 00:40:49,560 S1: get it invested, let it grow. And so that's going 728 00:40:49,560 --> 00:40:52,680 S1: to be where you'd probably eventually want to transfer it 729 00:40:52,680 --> 00:40:56,160 S1: to a discount brokerage house where there's low fees like 730 00:40:56,200 --> 00:41:00,160 S1: Schwab or Fidelity. Um, I'd probably put it into the 731 00:41:00,160 --> 00:41:04,239 S1: Schwab intelligent Portfolios and get it invested in, you know, 732 00:41:04,280 --> 00:41:07,160 S1: using the robo advisor because that makes it really easy. 733 00:41:07,440 --> 00:41:09,040 S1: You don't have to know what you're doing. You just 734 00:41:09,040 --> 00:41:13,200 S1: answer the questions. It'll be, you know, really widely diversified. 735 00:41:13,200 --> 00:41:15,080 S1: So you don't have all your eggs in one basket 736 00:41:15,080 --> 00:41:17,360 S1: and then just let it grow and it'll just move 737 00:41:17,360 --> 00:41:18,640 S1: with the stock market. 738 00:41:19,560 --> 00:41:25,600 S9: I gotcha, okay. Okay. Well, um, thank you so much. 739 00:41:25,680 --> 00:41:28,279 S9: He may have it in Edward Jones. 740 00:41:28,320 --> 00:41:33,040 S1: Okay. Yeah. Great. Edward Jones is a great, uh, broker dealer. Uh, 741 00:41:33,040 --> 00:41:36,880 S1: it's just that, you know, you're, you're less with 10,000 742 00:41:36,920 --> 00:41:39,120 S1: or somewhere around that number, you're going to be less 743 00:41:39,120 --> 00:41:41,239 S1: than what you would need to have an advisor who 744 00:41:41,239 --> 00:41:45,120 S1: could oversee it. And so you, you know, you're probably 745 00:41:45,120 --> 00:41:47,399 S1: going to need to make these decisions yourself. Now, if 746 00:41:47,400 --> 00:41:50,640 S1: Edward Jones has, you know, a retail solution where you 747 00:41:50,640 --> 00:41:53,320 S1: can do it yourself, that's great. If not, you'd probably 748 00:41:53,320 --> 00:41:57,359 S1: want to transfer it to, let's say, Charles Schwab and 749 00:41:57,360 --> 00:41:59,799 S1: then put it in the Schwab Intelligent Portfolios, which you 750 00:41:59,800 --> 00:42:02,150 S1: can do. You can move it from one inherited IRA 751 00:42:02,150 --> 00:42:04,990 S1: to another. That's not a taxable event and shouldn't really 752 00:42:04,989 --> 00:42:05,790 S1: cost you anything. 753 00:42:06,350 --> 00:42:07,910 S9: Okay. Thank you so much. 754 00:42:07,950 --> 00:42:10,830 S1: All right. Lord bless you. Thanks for calling today. Well, 755 00:42:10,830 --> 00:42:12,989 S1: we're about out of time today. Before we go, let 756 00:42:12,989 --> 00:42:15,469 S1: me remind us why we do what we do here 757 00:42:15,469 --> 00:42:18,710 S1: on this program. Every day we gather for faith and 758 00:42:18,710 --> 00:42:22,950 S1: finance live because we recognize we all have a high calling. 759 00:42:22,950 --> 00:42:26,669 S1: We're money managers for the King of Kings, which means 760 00:42:26,670 --> 00:42:31,710 S1: we're to be found faithful as we manage God's resources, faithfulness, 761 00:42:31,710 --> 00:42:35,870 S1: obedience over a long period of time, applying the wisdom 762 00:42:35,870 --> 00:42:38,470 S1: of God's Word to every area of our lives, and 763 00:42:38,510 --> 00:42:41,350 S1: that includes our finances. So thanks for being here today. 764 00:42:41,510 --> 00:42:43,950 S1: We love to do what we do and serving you 765 00:42:43,950 --> 00:42:47,150 S1: to be wise stewards of God's money. Want to say 766 00:42:47,150 --> 00:42:49,630 S1: thanks to my team today? Couldn't do it without them. 767 00:42:49,670 --> 00:42:52,710 S1: Faith and finance live as a partnership between Faith Fi 768 00:42:52,710 --> 00:42:56,029 S1: and Moody Radio. We'll see you next time. God bless you. 769 00:42:56,030 --> 00:42:56,510 S1: Bye bye.