1 00:00:08,840 --> 00:00:12,080 S1: Give us this day our daily bread. Those seven words 2 00:00:12,080 --> 00:00:14,680 S1: from the Lord's Prayer are so familiar that we can 3 00:00:14,680 --> 00:00:18,960 S1: miss how radical they are. Hi, I'm Rob West with Jesus, 4 00:00:18,960 --> 00:00:22,320 S1: taught his disciples to pray in Matthew 611. He invited 5 00:00:22,320 --> 00:00:25,200 S1: them to trust God for provision not all at once, 6 00:00:25,200 --> 00:00:27,680 S1: but one day at a time. Today we'll talk about 7 00:00:27,680 --> 00:00:30,240 S1: what it means to trust God for daily bread in 8 00:00:30,240 --> 00:00:33,040 S1: a world obsessed with tomorrow. And then it's on to 9 00:00:33,040 --> 00:00:37,480 S1: your calls at 805 two, five 7000. This is faith 10 00:00:37,479 --> 00:00:44,480 S1: and finance. Live biblical wisdom for your financial decisions. The 11 00:00:44,479 --> 00:00:47,840 S1: idea of daily bread takes us back to Israel's journey 12 00:00:47,840 --> 00:00:51,120 S1: through the wilderness. In Exodus 16, God fed his people 13 00:00:51,120 --> 00:00:54,040 S1: with manna each morning. It was enough for the day. 14 00:00:54,080 --> 00:00:58,320 S1: No more, no less. They tried to store extra. It spoiled. 15 00:00:58,600 --> 00:01:02,110 S1: The point wasn't food, it was trust. God was teaching 16 00:01:02,110 --> 00:01:06,390 S1: them that he, not their stockpiles or strategies, was their provider. 17 00:01:06,709 --> 00:01:11,150 S1: Today we work, budget, plan, save and invest. Scripture commends 18 00:01:11,150 --> 00:01:16,270 S1: that Proverbs celebrates diligence and Joseph's plan in Genesis 41 19 00:01:16,310 --> 00:01:22,110 S1: save nations. Trusting God is not passivity and faith isn't irresponsibility. 20 00:01:22,110 --> 00:01:26,509 S1: But here's the tension. Our planning must never replace our dependence. 21 00:01:26,630 --> 00:01:29,710 S1: When Jesus taught us to ask for daily bread, he 22 00:01:29,709 --> 00:01:32,950 S1: was forming a rhythm of trusting God with today, not 23 00:01:32,950 --> 00:01:36,350 S1: burdening ourselves with the need to control tomorrow. And for 24 00:01:36,350 --> 00:01:39,149 S1: many people, this hits close to home. We live in 25 00:01:39,150 --> 00:01:43,750 S1: a time of economic anxiety. Budgets are tight, housing is expensive, 26 00:01:43,750 --> 00:01:47,270 S1: and the future feels uncertain. And if we're honest, money 27 00:01:47,270 --> 00:01:52,150 S1: doesn't just expose our financial fears, it exposes deeper questions. 28 00:01:52,270 --> 00:01:55,270 S1: Will I have enough? Will I make it? Does God 29 00:01:55,270 --> 00:01:58,510 S1: see me? Will he take care of me? Jesus speaks 30 00:01:58,510 --> 00:02:01,830 S1: to those fears directly. Just a few verses later in 31 00:02:01,830 --> 00:02:06,430 S1: Matthew 625 and 26, do not be anxious about your life. 32 00:02:06,550 --> 00:02:08,710 S1: Look at the birds of the air. They neither sow 33 00:02:08,710 --> 00:02:12,230 S1: nor reap, nor gather into barns, and yet your heavenly 34 00:02:12,230 --> 00:02:16,990 S1: father feeds them. Jesus isn't calling us to ignore real needs. 35 00:02:16,990 --> 00:02:21,429 S1: He's inviting us to rest in real care. Birds do work. 36 00:02:21,430 --> 00:02:24,710 S1: They gather, they build, they hunt. But they don't worry. 37 00:02:24,870 --> 00:02:27,470 S1: They don't wake up asking whether God will put worms 38 00:02:27,470 --> 00:02:31,230 S1: in the dirt. Provision is built into creation because God 39 00:02:31,230 --> 00:02:37,230 S1: is faithful. Relying on God for daily bread invites three responses. First, 40 00:02:37,270 --> 00:02:40,790 S1: daily bread invites gratitude. When we ask for what we 41 00:02:40,790 --> 00:02:43,950 S1: need today, we remember that what we have today is 42 00:02:43,950 --> 00:02:48,070 S1: a gift. Gratitude pushes back against the pressure for more. 43 00:02:48,110 --> 00:02:53,989 S1: More comfort. More security. More status. Ecclesiastes 519 says that 44 00:02:53,990 --> 00:02:57,540 S1: even the ability to enjoy what we have is itself 45 00:02:57,580 --> 00:03:02,500 S1: a gift from God. Second, daily bread invites contentment. Contentment 46 00:03:02,500 --> 00:03:05,780 S1: doesn't mean settling for less. It means we stop treating 47 00:03:05,780 --> 00:03:09,780 S1: the future as the only place where peace exists. Paul 48 00:03:09,780 --> 00:03:13,820 S1: writes in Philippians 411, I have learned in whatever situation 49 00:03:13,820 --> 00:03:18,220 S1: I am to be content. The learning happened within circumstances, 50 00:03:18,220 --> 00:03:23,859 S1: not after ideal ones arrived. Third, daily bread invites generosity. 51 00:03:24,020 --> 00:03:27,620 S1: When we trust God to provide for today, our hands loosen. 52 00:03:27,620 --> 00:03:32,100 S1: Fear tightens. Trust frees. The widow in First Kings 17 53 00:03:32,139 --> 00:03:35,740 S1: gave Elijah some of her last flour and oil, trusting 54 00:03:35,740 --> 00:03:39,619 S1: God's promise, and God sustained her household through the drought. 55 00:03:39,820 --> 00:03:44,580 S1: The point isn't that generosity guarantees prosperity. It's that generosity 56 00:03:44,580 --> 00:03:48,980 S1: reveals where our security lies. And here's a practical encouragement. 57 00:03:48,980 --> 00:03:53,300 S1: Trusting God for daily bread often expresses itself in very 58 00:03:53,300 --> 00:03:59,570 S1: ordinary financial habits. Building an emergency fund shields from unnecessary anxiety. 59 00:03:59,610 --> 00:04:03,410 S1: Making a budget helps us steward what God provides. Saving 60 00:04:03,410 --> 00:04:07,530 S1: for future needs, reflects Proverbs 2120, which says A wise 61 00:04:07,530 --> 00:04:10,770 S1: man stores up choice, food and oil. But even the 62 00:04:10,770 --> 00:04:16,210 S1: wisest planner must remember financial stability is not ultimate security. 63 00:04:16,450 --> 00:04:19,530 S1: No account is large enough to silence fear. If our 64 00:04:19,529 --> 00:04:22,650 S1: hope is in money and there is no scarcity too 65 00:04:22,650 --> 00:04:26,849 S1: deep for God to sustain his children for some listening today, 66 00:04:26,890 --> 00:04:30,290 S1: trusting God for daily bread is literal. You're not sure 67 00:04:30,290 --> 00:04:32,810 S1: how the bills will be paid. Others are in a 68 00:04:32,810 --> 00:04:36,210 S1: season of plenty. And the danger isn't lack, it's forgetting 69 00:04:36,210 --> 00:04:40,529 S1: the giver. Deuteronomy eight warns Israel not to say my 70 00:04:40,529 --> 00:04:43,650 S1: power and the strength of my hands have produced this wealth. 71 00:04:43,810 --> 00:04:48,370 S1: God gives the opportunity, strength, creativity, and breath to work 72 00:04:48,610 --> 00:04:52,570 S1: in the Lord's Prayer. Daily bread comes after. Hallowed be 73 00:04:52,570 --> 00:04:56,330 S1: your name and your kingdom come. Provision is framed by 74 00:04:56,330 --> 00:04:59,969 S1: worship and mission. When God gives us daily bread, it's 75 00:04:59,970 --> 00:05:03,409 S1: not simply for comfort, it's for his kingdom. Our needs 76 00:05:03,410 --> 00:05:07,330 S1: matter to him, but his purposes are bigger than our pantry. 77 00:05:07,529 --> 00:05:09,849 S1: So ask God what you need. Thank him for what 78 00:05:09,850 --> 00:05:13,170 S1: you have and open your hands toward others. He is 79 00:05:13,170 --> 00:05:16,170 S1: faithful in the wilderness, faithful in the budget, faithful in 80 00:05:16,170 --> 00:05:20,570 S1: the seasons of uncertainty and faithful today. Alright, your calls 81 00:05:20,570 --> 00:05:22,170 S1: are next. We'll be right back. 82 00:05:34,490 --> 00:05:37,729 S2: The opinions offered during this program represent the personal or 83 00:05:37,730 --> 00:05:42,130 S2: professional opinions of the participants, given for informational purposes only. 84 00:05:42,450 --> 00:05:45,890 S2: Any information provided is not intended to replace advice from 85 00:05:45,890 --> 00:05:50,130 S2: a financial, medical, legal or other professional who understands your 86 00:05:50,130 --> 00:05:51,650 S2: specific situation. 87 00:05:58,200 --> 00:06:00,600 S1: Thanks for joining us today on Faith and finance Live 88 00:06:00,600 --> 00:06:04,360 S1: here on Moody Radio. I'm Rob West. We're live from NRP. 89 00:06:04,400 --> 00:06:07,240 S1: What is that you ask? Well, that's the National Religious 90 00:06:07,240 --> 00:06:12,559 S1: Broadcast Broadcasters Convention here in Nashville, Tennessee. Uh, last day 91 00:06:12,600 --> 00:06:16,520 S1: headed home tonight and then, uh, back in the studio 92 00:06:16,520 --> 00:06:19,400 S1: in Atlanta next week. But delighted to be here and 93 00:06:19,400 --> 00:06:22,400 S1: also looking forward to taking your calls and questions today. 94 00:06:22,400 --> 00:06:25,040 S1: So if there's something on your mind and your financial 95 00:06:25,040 --> 00:06:27,599 S1: life you'd like to talk about, we'd love to unpack 96 00:06:27,640 --> 00:06:32,120 S1: it with you. Call right now 800 525 7000. Again, 97 00:06:32,120 --> 00:06:36,599 S1: that number is 800 525 7000. Our lines are open. 98 00:06:36,600 --> 00:06:39,120 S1: Our team is standing by. One thing we need now 99 00:06:39,120 --> 00:06:44,839 S1: is you again. That number 800 525 7000. Big news today. 100 00:06:44,839 --> 00:06:47,400 S1: You've probably heard by now the US Supreme Court has 101 00:06:47,400 --> 00:06:53,070 S1: ruled most of President Trump's sweeping global tariffs to be illegal. 102 00:06:53,230 --> 00:06:57,029 S1: That's a major setback to one of his key economic policies. 103 00:06:57,350 --> 00:07:01,710 S1: Justices decided 6 to 3 that the president exceeded his 104 00:07:01,710 --> 00:07:05,910 S1: authority by using an emergency powers law to impose broad 105 00:07:06,070 --> 00:07:11,550 S1: import taxes without clear congressional authorization. The tariffs had applied 106 00:07:11,550 --> 00:07:15,430 S1: to most U.S. trading partners and were designed to address 107 00:07:15,430 --> 00:07:19,190 S1: trade imbalances. Critics argued they were beyond the scope of 108 00:07:19,190 --> 00:07:23,910 S1: the law and harmful to consumers and businesses. The president 109 00:07:23,910 --> 00:07:27,070 S1: out not mincing words, as you might imagine, announcing a 110 00:07:27,070 --> 00:07:32,910 S1: new 10% global tariff that he can impose through other mechanisms, 111 00:07:32,910 --> 00:07:36,150 S1: will certainly watch and see how the markets react. I 112 00:07:36,150 --> 00:07:39,510 S1: will say the Dow Jones, the S&P and the Nasdaq 113 00:07:39,510 --> 00:07:44,270 S1: all up on the day despite the Supreme Court's striking 114 00:07:44,270 --> 00:07:47,250 S1: down of his tariffs. The Dow Jones up about one 115 00:07:47,250 --> 00:07:50,270 S1: half of 1%. The S&P 500 up a little better 116 00:07:50,270 --> 00:07:54,630 S1: than that at nearly three quarters of 1%. The Nasdaq 117 00:07:54,670 --> 00:07:58,550 S1: up almost one full percentage point. We'll keep an eye 118 00:07:58,550 --> 00:08:00,910 S1: on it. We'll have more ahead with Gerri Bowyer when 119 00:08:00,910 --> 00:08:03,510 S1: he stops by. In our final segment. Gerri will give 120 00:08:03,510 --> 00:08:06,190 S1: us his thoughts on this, how it might affect our 121 00:08:06,190 --> 00:08:09,150 S1: economy moving forward. That's coming up a little bit later 122 00:08:09,150 --> 00:08:11,990 S1: in the broadcast. In the meantime, again, we're taking your 123 00:08:11,990 --> 00:08:14,350 S1: calls and questions. In fact, let's do that right now. 124 00:08:14,350 --> 00:08:16,910 S1: We're going to dive in and begin in Tennessee today. Marshall. 125 00:08:16,950 --> 00:08:17,630 S1: Go ahead sir. 126 00:08:19,150 --> 00:08:21,870 S3: Well, thank you so much for taking my call. The 127 00:08:21,870 --> 00:08:24,150 S3: first thing I want to say, and I do listen 128 00:08:24,150 --> 00:08:28,790 S3: to your program quite often. My question is, uh, I have, uh, 129 00:08:28,790 --> 00:08:32,910 S3: I have, uh, uh, me and my wife over the 130 00:08:32,910 --> 00:08:38,069 S3: years and because of tax purposes, we have, uh, moved 131 00:08:38,070 --> 00:08:43,550 S3: certain amounts of monies into traditional IRAs. Yes, sir. I, uh, 132 00:08:43,790 --> 00:08:47,310 S3: I retired from TVA and from Oak Ridge National Lab 133 00:08:47,350 --> 00:08:51,140 S3: and but in meanwhile, what I was doing was, uh, 134 00:08:51,260 --> 00:08:54,699 S3: flipping houses. And so what happens there is, you know, 135 00:08:54,740 --> 00:08:57,459 S3: as you know, you have, uh, you have a big 136 00:08:57,460 --> 00:09:00,140 S3: tax that gets up on you there, uh, every time 137 00:09:00,140 --> 00:09:02,740 S3: you sell a house or something like that. So in 138 00:09:02,740 --> 00:09:06,180 S3: order to offset that, I was investing or was, uh, 139 00:09:06,660 --> 00:09:11,780 S3: putting everything into a traditional IRAs, and we've got about $100,000. Well, 140 00:09:11,780 --> 00:09:15,180 S3: now I'm 71, soon to be 72, and I know 141 00:09:15,179 --> 00:09:19,300 S3: it's 73. You have to start, uh, drawing money and 142 00:09:19,300 --> 00:09:21,980 S3: they'll start making you take so much money. And my 143 00:09:21,980 --> 00:09:25,300 S3: question is, uh, and I've got, I've got like, uh, 144 00:09:25,300 --> 00:09:28,020 S3: I just got through doing redoing a house not long ago. 145 00:09:28,020 --> 00:09:31,780 S3: So we got like 180, $190,000 in the checking account, 146 00:09:31,780 --> 00:09:34,860 S3: which I'm trying to figure out what to do with it. 147 00:09:34,860 --> 00:09:37,700 S3: I had it in a CD, and I just put 148 00:09:37,700 --> 00:09:40,179 S3: it in the checking account to see what kind of 149 00:09:40,220 --> 00:09:45,060 S3: investment opportunities I might be able to do with that. Also, uh, 150 00:09:45,059 --> 00:09:49,370 S3: we draw. I'm pretty well set. We we probably bring 151 00:09:49,370 --> 00:09:54,970 S3: in about 70,000 a year, uh, from retirement and pension 152 00:09:54,970 --> 00:09:57,130 S3: and that type of thing. So we're not we got 153 00:09:57,130 --> 00:10:00,730 S3: everything paid for so that we don't owe anything. And 154 00:10:00,730 --> 00:10:03,850 S3: we've got other. I've got other properties, uh, got a 155 00:10:03,850 --> 00:10:08,490 S3: rental property that actually I still owe about 50,000 on it, 156 00:10:08,490 --> 00:10:13,650 S3: but the rent pays for a 30 year mortgage is 157 00:10:13,690 --> 00:10:17,850 S3: set on it at 5%. And, uh, it pays the mortgage, 158 00:10:17,850 --> 00:10:22,290 S3: it pays the insurance, and it pays the taxes. Uh, 159 00:10:22,290 --> 00:10:26,890 S3: and I make probably 4 or $500 a month on that. Uh, 160 00:10:26,890 --> 00:10:29,850 S3: so we have those things coming in, but I don't 161 00:10:29,850 --> 00:10:32,929 S3: know what to do with the in particular the IRA, 162 00:10:32,970 --> 00:10:35,250 S3: you know, because of the penalties. 163 00:10:36,010 --> 00:10:39,010 S1: Yeah. Very good. Uh, it's a great question. You sound 164 00:10:39,010 --> 00:10:41,250 S1: like you're in a really solid position here in terms 165 00:10:41,250 --> 00:10:44,010 S1: of thinking about the different pieces and parts. I love 166 00:10:44,010 --> 00:10:46,080 S1: that you have your income covered. I love that you 167 00:10:46,080 --> 00:10:50,839 S1: still have this rental property. It's obviously cash flowing after expenses. 168 00:10:50,840 --> 00:10:53,840 S1: It's giving you a little bit of supplemental income. You're 169 00:10:53,840 --> 00:10:57,040 S1: in a really great spot here. I think one opportunity 170 00:10:57,040 --> 00:10:59,360 S1: is to define enough, you know, how much do you 171 00:10:59,360 --> 00:11:02,400 S1: ultimately want to accumulate, at which point you might even 172 00:11:02,400 --> 00:11:05,680 S1: want to consider accelerating your giving. If you know you're 173 00:11:05,679 --> 00:11:10,120 S1: already there or you're on pace to exceed that. Second is, 174 00:11:10,120 --> 00:11:13,680 S1: I think, a framework to consider. All of this, uh, 175 00:11:14,000 --> 00:11:18,200 S1: that might be helpful would be to think about various buckets, 176 00:11:18,480 --> 00:11:22,320 S1: because before picking investments, the key question is why are 177 00:11:22,320 --> 00:11:25,680 S1: we investing? Are we investing for growth, for income, for 178 00:11:25,679 --> 00:11:29,120 S1: peace of mind? You know, given what you've described, uh, 179 00:11:29,120 --> 00:11:31,840 S1: in terms of your IRA, the cash from the house sale, 180 00:11:31,840 --> 00:11:34,679 S1: the rental income that you have, the land that you 181 00:11:34,679 --> 00:11:40,080 S1: might sell later, it sounds like a simple income focused structure, 182 00:11:40,120 --> 00:11:43,480 S1: not aggressive investing is probably what you're looking for. So 183 00:11:43,520 --> 00:11:46,680 S1: if we think in terms of buckets bucket one would 184 00:11:46,679 --> 00:11:49,680 S1: be safety and liquidity. So this is 1 to 3 185 00:11:49,679 --> 00:11:53,679 S1: years worth of spending. Um I would say you know, 186 00:11:53,720 --> 00:11:56,440 S1: let's look at a high yield savings or some T-bills 187 00:11:56,440 --> 00:11:59,959 S1: or some money market funds, something that's stable and accessible 188 00:11:59,960 --> 00:12:04,000 S1: to cover that, you know, one year's worth of expenses. Um, 189 00:12:04,000 --> 00:12:07,560 S1: I think bucket two is reliable income. And so you 190 00:12:07,559 --> 00:12:10,240 S1: already have the rental income. That's great. That's going to 191 00:12:10,240 --> 00:12:13,439 S1: give you another asset class. Um, and then in addition 192 00:12:13,440 --> 00:12:17,239 S1: to that, I think looking at either investment grade bond funds, 193 00:12:17,240 --> 00:12:21,600 S1: maybe treasury ladders, um, you could even look at dividend 194 00:12:21,600 --> 00:12:26,240 S1: focused stocks where you're getting predictable income without heavy volatility. 195 00:12:26,400 --> 00:12:30,720 S1: That might be bucket two. And then bucket three might be, uh, 196 00:12:30,760 --> 00:12:34,920 S1: modest growth. So even at 71 some growth helps to 197 00:12:34,960 --> 00:12:40,760 S1: offset inflation. So maybe 20 to 40%. And diversified equities 198 00:12:41,080 --> 00:12:45,470 S1: uh not chasing returns Just trying to keep your purchasing power. 199 00:12:45,870 --> 00:12:49,510 S1: So I think that's one option you could consider. And 200 00:12:49,550 --> 00:12:52,190 S1: you know, keep in mind in terms of the vehicle itself, 201 00:12:52,190 --> 00:12:55,390 S1: I like the Roth IRA. Um, you know, which would 202 00:12:55,390 --> 00:12:58,829 S1: allow you to put some money, uh, in as long 203 00:12:58,830 --> 00:13:01,630 S1: as you have earned income, which you do. Uh, the 204 00:13:01,630 --> 00:13:04,630 S1: IRA Roth IRA would allow you to put it in, 205 00:13:04,630 --> 00:13:08,110 S1: grow it tax free, and you would never have a 206 00:13:08,110 --> 00:13:11,070 S1: required minimum. The other benefit is when you pass it 207 00:13:11,070 --> 00:13:14,430 S1: on to heirs. If that's something in your plan, they 208 00:13:14,429 --> 00:13:16,550 S1: don't have to pull it out and pay tax on it. 209 00:13:16,550 --> 00:13:20,310 S1: That's essentially already been done. And so that's a nice 210 00:13:20,350 --> 00:13:24,030 S1: opportunity for you. And uh, because you're over 50, you 211 00:13:24,030 --> 00:13:28,189 S1: can put in $8,600 for the year. Um, and you 212 00:13:28,190 --> 00:13:31,230 S1: could do that times two. So that might be something 213 00:13:31,230 --> 00:13:33,949 S1: to consider in lieu of the traditional IRA, given what 214 00:13:33,950 --> 00:13:37,750 S1: you talked about with the, uh, the required minimum, I 215 00:13:37,750 --> 00:13:41,270 S1: think the other consideration is, you know, even though you're 216 00:13:41,340 --> 00:13:44,819 S1: cash flowing, that property paying off that mortgage is going 217 00:13:44,860 --> 00:13:48,260 S1: to give you a guaranteed 5% and is going to ultimately, 218 00:13:48,260 --> 00:13:50,819 S1: once it's paid in full, free up more money that 219 00:13:50,820 --> 00:13:53,460 S1: you could turn around and invest and get a better 220 00:13:53,460 --> 00:13:56,980 S1: return on. So, you know, accelerating that payoff of that 221 00:13:56,980 --> 00:14:00,540 S1: rental property could be another great option for you. So 222 00:14:00,740 --> 00:14:02,220 S1: I know I've thrown a lot at you here. I 223 00:14:02,220 --> 00:14:04,820 S1: want to get your thoughts on all of this, Marshall. 224 00:14:04,820 --> 00:14:07,100 S1: So let's do this. I'm up against a break here. 225 00:14:07,100 --> 00:14:09,620 S1: When we come back, we'll get your take on it 226 00:14:09,620 --> 00:14:11,980 S1: and any follow up questions you have and and take 227 00:14:11,980 --> 00:14:15,100 S1: it from there. So you hold the line. Uh, Tara, 228 00:14:15,140 --> 00:14:18,380 S1: Steve Jeremiah coming your way as well. This is faith 229 00:14:18,380 --> 00:14:21,100 S1: and finance live. We're live from Nashville today at the 230 00:14:21,100 --> 00:14:34,180 S1: NRB convention. Back with more after this. Stick around. Helping 231 00:14:34,180 --> 00:14:36,300 S1: you live as a wise and faithful steward. This is 232 00:14:36,300 --> 00:14:38,940 S1: faith and finance. Live. I'm Rob West before the break, 233 00:14:38,940 --> 00:14:42,940 S1: we were talking to Marshall. He's 71, has $100,000 in 234 00:14:42,940 --> 00:14:47,260 S1: traditional IRA accounts, 180,000. In his checking. They just sold 235 00:14:47,260 --> 00:14:50,660 S1: a home in a rental property that's cash flowing with 236 00:14:50,700 --> 00:14:54,150 S1: a little surplus there that's throwing off cash of 3 237 00:14:54,150 --> 00:14:58,180 S1: to 400 a month and land that, uh, people approach 238 00:14:58,180 --> 00:15:00,140 S1: him all the time to buy. He hasn't decided to 239 00:15:00,180 --> 00:15:02,700 S1: move forward with that yet. Looking for advice on how 240 00:15:02,700 --> 00:15:05,340 S1: to invest? Marshall, give me your thoughts on what I 241 00:15:05,380 --> 00:15:06,340 S1: outlined for you. 242 00:15:06,900 --> 00:15:10,100 S3: Well, it sounds, uh, I like the I like the 243 00:15:10,140 --> 00:15:13,900 S3: bucket idea. Uh, but let me ask you now, once 244 00:15:13,900 --> 00:15:18,620 S3: I start, uh, my wife's got about 46,000 in IRA 245 00:15:18,660 --> 00:15:21,300 S3: account for her. And then the remainder of that, somewhere 246 00:15:21,300 --> 00:15:25,060 S3: around 60,000 of courses in my IRA accounts. And I'm 247 00:15:25,060 --> 00:15:26,820 S3: going to have to do something with that by the 248 00:15:26,820 --> 00:15:29,860 S3: time I'm 73, if I'm not mistaken. And if you 249 00:15:29,900 --> 00:15:35,460 S3: draw any monies out of your IRAs, it goes into your, uh, 250 00:15:36,180 --> 00:15:39,890 S3: taxable income, from what I understand. Is that correct? 251 00:15:40,490 --> 00:15:45,690 S1: That's right. Except with one exception, because you're over 70.5, 252 00:15:45,690 --> 00:15:49,970 S1: which naturally you would be when you start taking a 253 00:15:49,970 --> 00:15:52,970 S1: required minimum at 73, you do have the option of 254 00:15:52,970 --> 00:15:57,570 S1: something called a qualified charitable distribution. And one option would 255 00:15:57,570 --> 00:16:00,170 S1: be even if you didn't do any additional giving, although 256 00:16:00,170 --> 00:16:03,410 S1: I wouldn't be opposed to that if you were to do. Uh, 257 00:16:03,410 --> 00:16:05,850 S1: instead of giving out of cash, a lot of people 258 00:16:05,850 --> 00:16:08,130 S1: maybe give to their church and other ministries out of 259 00:16:08,130 --> 00:16:11,170 S1: their checking or savings. If you were to instead do 260 00:16:11,170 --> 00:16:14,370 S1: that out of your IRA by sending the money direct 261 00:16:14,370 --> 00:16:18,450 S1: from your IRA to the church or ministry, uh, you 262 00:16:18,450 --> 00:16:21,450 S1: pay no tax on it. And so that's the only 263 00:16:21,450 --> 00:16:24,010 S1: way to get it out without ever paying tax on it. 264 00:16:24,010 --> 00:16:26,450 S1: Apart from that, uh, you will have to add it 265 00:16:26,450 --> 00:16:27,770 S1: to your taxable income. 266 00:16:28,610 --> 00:16:31,730 S3: I, uh, what we've done, what we've done in the past, 267 00:16:31,930 --> 00:16:36,170 S3: we increased our giving, uh, quite significantly when all these 268 00:16:36,210 --> 00:16:40,080 S3: this stuff started coming in after I retired and everything, 269 00:16:40,080 --> 00:16:43,240 S3: and I still made money. So I just kept kept 270 00:16:43,240 --> 00:16:45,560 S3: it going as far as tithing and that type of thing, 271 00:16:45,560 --> 00:16:47,320 S3: because we do believe in doing that and I go 272 00:16:47,320 --> 00:16:50,000 S3: on mission trips quite a bit. I'm fixing to go 273 00:16:50,000 --> 00:16:53,800 S3: on one to Uganda. So, you know, there's some things 274 00:16:53,800 --> 00:16:56,600 S3: that I do spend as far as the church is concerned. 275 00:16:56,640 --> 00:17:00,760 S3: That's something that I was just trying to be honest 276 00:17:00,760 --> 00:17:03,000 S3: with you, to see how much I'm going to have 277 00:17:03,000 --> 00:17:05,480 S3: to do as far as the cameras are concerned, when 278 00:17:05,480 --> 00:17:08,840 S3: it comes to that point where we have to do 279 00:17:08,840 --> 00:17:10,920 S3: something with that. What is the minimum? Let me ask 280 00:17:10,920 --> 00:17:13,000 S3: you this. What is the minimum they make you take 281 00:17:13,000 --> 00:17:14,280 S3: out when you're 73? 282 00:17:15,200 --> 00:17:20,280 S1: Well, it all depends upon, uh, your account balance. And so, 283 00:17:20,400 --> 00:17:26,879 S1: you know, for instance, at 73, if you had, uh, $100,000, uh, 284 00:17:26,880 --> 00:17:30,440 S1: between the two IRAs and let's say you were both 285 00:17:30,440 --> 00:17:35,879 S1: the same age, I expect you're not basically the at 73, 286 00:17:35,920 --> 00:17:40,120 S1: that what they call the distribution factor is 26.5. So 287 00:17:40,119 --> 00:17:43,120 S1: you take the account balance, you divide it by the 288 00:17:43,160 --> 00:17:47,120 S1: the life expectancy factor. And that gives you the amount. 289 00:17:47,200 --> 00:17:51,200 S1: So just for example at 73 the factor is 26.5. 290 00:17:51,200 --> 00:17:55,360 S1: So if you had 100,000 divided by 26.5, you'd have 291 00:17:55,359 --> 00:17:59,880 S1: to take out $3,774 for the year. Uh, now that's 292 00:17:59,880 --> 00:18:02,400 S1: just an example. But each year you'd look at the 293 00:18:02,400 --> 00:18:06,440 S1: IRS table, uh, which gives you your factor, and then 294 00:18:06,440 --> 00:18:09,800 S1: you use the account balance for any traditional IRAs as 295 00:18:09,800 --> 00:18:13,600 S1: of December 31st. And then that gives you your number. 296 00:18:14,840 --> 00:18:18,720 S3: Oh, I see, I see so and so you're telling 297 00:18:18,720 --> 00:18:21,760 S3: me that more or less, uh, bonds and that type 298 00:18:21,760 --> 00:18:23,720 S3: of thing. Because what I end up doing a lot 299 00:18:23,720 --> 00:18:25,159 S3: of times, and this is how I ended up with 300 00:18:25,160 --> 00:18:27,439 S3: these houses, people will come to me and say, you know, 301 00:18:27,480 --> 00:18:29,440 S3: we got a house right here. And they just they 302 00:18:29,440 --> 00:18:31,080 S3: need to get rid of it. That's what happened with 303 00:18:31,080 --> 00:18:34,590 S3: this house. And I bought it. And then I don't 304 00:18:34,630 --> 00:18:36,510 S3: actually do any of the work anymore, but I have 305 00:18:36,510 --> 00:18:40,030 S3: someone else do it. And we've done quite well with 306 00:18:40,190 --> 00:18:43,430 S3: turning these things around, you know. So. Yes, sir. Uh, 307 00:18:43,550 --> 00:18:46,950 S3: that's something that I may continue to do as long 308 00:18:46,950 --> 00:18:49,750 S3: as I'm able. I just kind of like to do that, 309 00:18:49,790 --> 00:18:53,030 S3: you know? But, you know, we usually take the bulk 310 00:18:53,030 --> 00:18:55,270 S3: amount of that money, and then we take quite a 311 00:18:55,310 --> 00:18:57,869 S3: bit of it, and we give that to the church. 312 00:18:58,310 --> 00:19:00,430 S1: Yeah, I love that. Well, it sounds like you're good 313 00:19:00,430 --> 00:19:02,550 S1: at it, too. Yeah. I think the only thing to 314 00:19:02,550 --> 00:19:07,550 S1: consider is, you know, you can satisfy those RMDs by 315 00:19:07,590 --> 00:19:11,629 S1: making a qualified charitable distribution. So if you did some 316 00:19:11,630 --> 00:19:13,950 S1: of that giving, instead of just writing a check, you 317 00:19:13,950 --> 00:19:17,550 S1: did it from your IRA. Uh, you could satisfy that 318 00:19:17,550 --> 00:19:20,510 S1: required minimum that you're going to have starting at 73 319 00:19:20,830 --> 00:19:23,430 S1: and never pay any tax on the money and send 320 00:19:23,430 --> 00:19:25,350 S1: it directly to your church at that point. 321 00:19:25,830 --> 00:19:29,510 S3: Yeah, I could have done that, but I've already I 322 00:19:29,510 --> 00:19:30,670 S3: already wrote a check. 323 00:19:30,990 --> 00:19:33,220 S1: That's okay. Yeah, but maybe that's how you do it 324 00:19:33,220 --> 00:19:36,260 S1: in the future years. You don't have that, uh, that 325 00:19:36,260 --> 00:19:38,820 S1: required minimum yet. But when you do, you know, you 326 00:19:38,859 --> 00:19:40,659 S1: could certainly look at that. And then don't miss the 327 00:19:40,660 --> 00:19:43,420 S1: opportunity to go ahead and pay off that mortgage. That's 328 00:19:43,420 --> 00:19:46,460 S1: a guaranteed 5%, which is better than you're going to 329 00:19:46,460 --> 00:19:49,500 S1: get anywhere else guaranteed. Uh, in terms of the savings 330 00:19:49,500 --> 00:19:52,740 S1: on the interest. I appreciate your call today, sir. Lord 331 00:19:52,740 --> 00:19:56,020 S1: bless you. Call any time. Alright. Let's go to Florida. Tara. 332 00:19:56,060 --> 00:19:56,580 S1: Go ahead. 333 00:19:58,140 --> 00:20:00,979 S4: Hi. Thank you for taking my call. Um, I have 334 00:20:00,980 --> 00:20:03,660 S4: a question. My son works a part time job, so 335 00:20:03,700 --> 00:20:07,100 S4: he's not eligible for a benefit right now. And we 336 00:20:07,140 --> 00:20:09,900 S4: were wondering where we could reach out to start a 337 00:20:09,900 --> 00:20:12,540 S4: Roth IRA for him to contribute to. 338 00:20:13,140 --> 00:20:16,980 S1: Yeah, I love this idea. He's eligible as long as 339 00:20:16,980 --> 00:20:20,420 S1: he has what's called earned income. So W-2 wages or 340 00:20:20,420 --> 00:20:24,380 S1: self-employment income, even part time work counts. He could open 341 00:20:24,380 --> 00:20:27,379 S1: an IRA, a Roth IRA, which would be great. I 342 00:20:27,380 --> 00:20:31,140 S1: would go to a Fidelity or Schwab, open that account 343 00:20:31,140 --> 00:20:34,940 S1: and then just start, uh, you know, making contributions, uh, 344 00:20:34,980 --> 00:20:37,940 S1: up to the limit for the year or his, uh, 345 00:20:37,980 --> 00:20:41,540 S1: total earned income, whichever is lower, would be the cap 346 00:20:41,540 --> 00:20:43,980 S1: that he could put in. And you could use something 347 00:20:43,980 --> 00:20:47,340 S1: like the Schwab Intelligent Portfolios, which is essentially a robo 348 00:20:47,340 --> 00:20:51,580 S1: advisor that would, on an automated basis, invest that money 349 00:20:51,580 --> 00:20:55,260 S1: for him based on his age and goals and risk tolerance. 350 00:20:55,260 --> 00:20:58,300 S1: Or you could do it yourself. And perhaps you use 351 00:20:58,300 --> 00:21:01,500 S1: something like the Sound Mind Investing newsletter, where they would 352 00:21:01,500 --> 00:21:05,020 S1: give you actual mutual fund recommendations. If you go to 353 00:21:05,060 --> 00:21:08,379 S1: sound mind Investing org, they have a strategy called just 354 00:21:08,380 --> 00:21:11,780 S1: the Basics, and they would tell you exactly which mutual 355 00:21:11,780 --> 00:21:16,300 S1: funds to buy in his Roth IRA. But in either case, 356 00:21:16,300 --> 00:21:18,580 S1: I think Schwab or Fidelity would be a great place 357 00:21:18,580 --> 00:21:21,140 S1: to go, and this will be a great tool to 358 00:21:21,180 --> 00:21:23,260 S1: build wealth for him over time. Sound good? 359 00:21:24,660 --> 00:21:25,940 S4: Thank you for taking my call. 360 00:21:26,140 --> 00:21:30,250 S1: All right. Thanks for your call today. 800 525 57,000 361 00:21:30,250 --> 00:21:32,530 S1: is the number to call. I'm Rob West. We're taking 362 00:21:32,530 --> 00:21:35,369 S1: those calls today. We've got some lines open, so now's 363 00:21:35,369 --> 00:21:39,610 S1: the time for you to call again. 800 525 7000. 364 00:21:39,650 --> 00:21:43,410 S1: We're live in Nashville today at the National Religious Broadcasters Convention, 365 00:21:43,410 --> 00:21:47,250 S1: wrapping up an incredible week with other media professionals from 366 00:21:47,250 --> 00:21:50,290 S1: around the globe. It's been amazing. Glad to have you 367 00:21:50,330 --> 00:21:52,889 S1: here today as we help you live as a faithful steward. 368 00:21:52,890 --> 00:22:06,810 S1: Much more just around the corner. Stick around. Well, the 369 00:22:06,810 --> 00:22:13,250 S1: Supreme Court has spoken, and President Trump's signature economic policies 370 00:22:13,250 --> 00:22:17,290 S1: involving tariffs all over the globe with our trading partners 371 00:22:17,290 --> 00:22:21,050 S1: have been struck down. He's announcing a new 10% global 372 00:22:21,090 --> 00:22:25,050 S1: tariff through another mechanism. Jerry Bowyer will stop by in 373 00:22:25,050 --> 00:22:27,810 S1: our final segment today. We'll get Jerry's take on all 374 00:22:27,810 --> 00:22:30,560 S1: the news coming out of Washington today. In the meantime, 375 00:22:30,600 --> 00:22:32,840 S1: taking your calls and questions, let's head right back to 376 00:22:32,880 --> 00:22:35,679 S1: the phones. Kansas City is where we're headed next. Jeremiah. 377 00:22:35,720 --> 00:22:36,399 S1: Go ahead sir. 378 00:22:37,960 --> 00:22:41,160 S5: Hey, Rob, thank you for taking my call, sir. Sure 379 00:22:41,359 --> 00:22:46,320 S5: I have. I have a couple of for ones that 380 00:22:46,640 --> 00:22:50,960 S5: from previous jobs that I don't know how to. What 381 00:22:50,960 --> 00:22:52,360 S5: I want to do is I want to track them 382 00:22:52,359 --> 00:22:57,760 S5: all down and consolidate them into possibly my one that 383 00:22:57,760 --> 00:23:00,920 S5: I am in right now at my job right now, 384 00:23:00,960 --> 00:23:04,320 S5: because I never rolled them over. How would I do that? 385 00:23:04,359 --> 00:23:05,560 S5: How would I go about that? 386 00:23:05,960 --> 00:23:08,040 S1: Yeah, I mean, the first place to look would be 387 00:23:08,040 --> 00:23:11,200 S1: to start with old paperwork and tax records. So old 388 00:23:11,200 --> 00:23:17,400 S1: W-2s box 12 often shows the retirement plan, uh, participation, 389 00:23:17,440 --> 00:23:23,160 S1: past tax returns, old emails from HR or payroll providers, uh, 390 00:23:23,160 --> 00:23:27,120 S1: even one company name help starts the search. Um, and 391 00:23:27,160 --> 00:23:32,000 S1: then you can use the National lost 401 tools. So there's, uh, 392 00:23:32,000 --> 00:23:35,880 S1: several of them out there that, uh, the National Registry 393 00:23:35,920 --> 00:23:39,960 S1: of Unclaimed Retirement Benefits, for example, uh, would be one 394 00:23:39,960 --> 00:23:42,879 S1: that a lot of people will use. Uh, you'll find 395 00:23:42,880 --> 00:23:50,600 S1: that at unclaimed retirement benefits.com unclaimed retirement benefits.com. Uh, there's 396 00:23:50,600 --> 00:23:59,479 S1: another database called free ERISA, ERISA, uh ERISA, ERISA. And uh, 397 00:23:59,520 --> 00:24:02,080 S1: you can just do an internet search for that. That 398 00:24:02,080 --> 00:24:05,840 S1: would be a database that you could search through, and 399 00:24:05,960 --> 00:24:09,520 S1: that would help you uncover any lost 401. Uh, you're 400 00:24:09,520 --> 00:24:13,120 S1: also going to want to contact former employers or the 401 00:24:13,119 --> 00:24:16,639 S1: HR department, even if the company has changed names or 402 00:24:16,640 --> 00:24:19,680 S1: was acquired, you can call them and just say, who 403 00:24:19,680 --> 00:24:23,760 S1: is the current plan administrator for the 401 K? They'd 404 00:24:23,760 --> 00:24:26,830 S1: have to provide that information to you. And then once 405 00:24:26,830 --> 00:24:31,150 S1: you get the documentation for all the 401 s out there, 406 00:24:31,390 --> 00:24:34,990 S1: then you would want to initiate, uh, opening a new 407 00:24:35,030 --> 00:24:39,430 S1: traditional IRA. And that's going to be the one account 408 00:24:39,430 --> 00:24:43,110 S1: that you will roll all these old 401 s into. 409 00:24:43,150 --> 00:24:45,750 S1: You're going to want to have that open first, and 410 00:24:45,750 --> 00:24:49,750 S1: then you'll reach out to each of those plan administrators 411 00:24:49,750 --> 00:24:52,629 S1: for any of the old 401 s you find, and 412 00:24:52,630 --> 00:24:55,670 S1: tell them you want to do a direct rollover, and 413 00:24:55,670 --> 00:24:58,670 S1: they're going to give you the paperwork. Often it'll be electronic. 414 00:24:58,910 --> 00:25:02,870 S1: And on that paperwork, you'll put the name of the 415 00:25:02,869 --> 00:25:06,870 S1: custodian of the account number of that new IRA. And 416 00:25:06,869 --> 00:25:10,030 S1: then they're going to roll the funds into that new IRA. 417 00:25:10,310 --> 00:25:14,310 S1: That is not a taxable event. You'll consolidate them there, 418 00:25:14,630 --> 00:25:17,110 S1: and then you can start managing the money in that 419 00:25:17,109 --> 00:25:19,870 S1: new IRA. But now everything will be in one place, 420 00:25:19,869 --> 00:25:21,149 S1: which will be much simpler. 421 00:25:22,390 --> 00:25:26,619 S5: Okay. Okay. All right. Would I be able to roll 422 00:25:26,619 --> 00:25:29,220 S5: them over into my job right now? Or do I 423 00:25:29,220 --> 00:25:35,620 S5: need to go ahead and open up that, um, that IRA. Um, yeah. 424 00:25:35,660 --> 00:25:39,859 S1: IRA account often you can you would need to call 425 00:25:39,859 --> 00:25:44,260 S1: your plan administrator for your current 401 K and just ask, 426 00:25:44,260 --> 00:25:49,260 S1: can I roll old 401 into this? Uh, it's permissible 427 00:25:49,300 --> 00:25:52,900 S1: by law. It's just up to that plan, administrator, as 428 00:25:52,900 --> 00:25:57,300 S1: to whether or not they'll accept 401 from previous employers. 429 00:25:57,300 --> 00:25:59,540 S1: Many times they do. And that can be a great 430 00:25:59,540 --> 00:26:05,700 S1: strategy because again, it provides further simplification. Everything's in one place. Also, 431 00:26:05,900 --> 00:26:09,260 S1: you wouldn't need necessarily an advisor in the mix yet 432 00:26:09,380 --> 00:26:12,660 S1: because it's much simpler to manage money at a 401 K, 433 00:26:12,660 --> 00:26:16,820 S1: because you have that limited menu of investment options versus 434 00:26:16,820 --> 00:26:20,420 S1: when you ultimately separate from your employer for retirement, you'll 435 00:26:20,420 --> 00:26:22,260 S1: probably want to roll it out to an IRA at 436 00:26:22,300 --> 00:26:24,820 S1: that point. That's when you want to hire an advisor. 437 00:26:26,020 --> 00:26:28,900 S5: Okay. All right. Thank you so much, Rob. Thank you 438 00:26:28,900 --> 00:26:29,700 S5: for the clarity. 439 00:26:30,340 --> 00:26:33,300 S1: Absolutely. Thanks for your call today. Lord bless you. 800 440 00:26:33,300 --> 00:26:36,700 S1: 525 7000. Let's go to Cynthia in Missouri. Go ahead. 441 00:26:38,300 --> 00:26:44,180 S6: Hi. Um, I have, um, some money saved up. I 442 00:26:44,180 --> 00:26:48,900 S6: have a $20,000 saved up, and I was just wondering 443 00:26:49,340 --> 00:26:54,780 S6: what I could do, uh, to invest it in investments 444 00:26:54,980 --> 00:26:59,139 S6: that would be good for the future. Um, for my 445 00:26:59,140 --> 00:27:04,700 S6: children later on, or in case something happens or, you know, um, 446 00:27:05,020 --> 00:27:09,100 S6: I just like to have some money. Um, some extra 447 00:27:09,100 --> 00:27:12,260 S6: money saved up. Sure. You know, for them. I just 448 00:27:12,260 --> 00:27:15,379 S6: want to know where I should. Where I should invest it. 449 00:27:15,900 --> 00:27:20,500 S1: Yeah. Well, often, you know, at age 65, you know, 450 00:27:20,540 --> 00:27:25,210 S1: we're thinking in terms of maybe a 6040 portfolio, 60% 451 00:27:25,210 --> 00:27:29,450 S1: in fixed income, 40% in stocks. Now, those are big, 452 00:27:29,450 --> 00:27:34,170 S1: broad asset categories. And ultimately you have to decide what 453 00:27:34,210 --> 00:27:38,209 S1: actual investments to utilize in each of those asset classes. 454 00:27:38,410 --> 00:27:41,290 S1: But at a high level, you might think in terms 455 00:27:41,290 --> 00:27:44,210 S1: of for that money you actually want to try to 456 00:27:44,250 --> 00:27:46,770 S1: put to work that has at least a ten year 457 00:27:46,770 --> 00:27:51,010 S1: time horizon, not counting your emergency funds that you would have. 458 00:27:51,330 --> 00:27:54,810 S1: You would, of course, want more liquid and secure. This 459 00:27:54,810 --> 00:27:57,330 S1: is the money you truly are willing to invest, try 460 00:27:57,330 --> 00:28:01,850 S1: to outpace inflation and and preserve your purchasing power. That's 461 00:28:01,850 --> 00:28:04,330 S1: where I would be thinking about that 60 over 40 462 00:28:04,369 --> 00:28:08,730 S1: portfolio in terms of the actual investments. One option would 463 00:28:08,730 --> 00:28:11,330 S1: be to go to our friends at Sound Mind Investing, 464 00:28:12,450 --> 00:28:15,690 S1: the Sound Mind Investing newsletter, which you can access in 465 00:28:15,690 --> 00:28:20,880 S1: print form or online, gives you actual mutual fund recommendations 466 00:28:20,880 --> 00:28:24,600 S1: for a DIY investor, someone who's doing it themselves. And 467 00:28:24,600 --> 00:28:27,520 S1: they have a strategy called Just the Basics, where they 468 00:28:27,520 --> 00:28:31,400 S1: would furnish you every month the mutual funds that you 469 00:28:31,440 --> 00:28:33,480 S1: can buy, and many of them you can buy and 470 00:28:33,480 --> 00:28:36,680 S1: hold for the long term. But that would at least 471 00:28:36,680 --> 00:28:40,400 S1: give you some specific recommendations. But I think just generally speaking, 472 00:28:40,600 --> 00:28:44,080 S1: I would be thinking in terms of mutual funds. So 473 00:28:44,080 --> 00:28:48,760 S1: a basket of investments around this idea of of about 60% 474 00:28:48,760 --> 00:28:52,280 S1: and more of the fixed income bond area, about 40% 475 00:28:52,280 --> 00:28:55,360 S1: of the stock area, that would be very appropriate for 476 00:28:55,360 --> 00:28:58,320 S1: somebody who's 65, at least as a starting point. 477 00:28:59,240 --> 00:29:05,840 S6: Okay, okay. Yeah. I was just wondering about that because, 478 00:29:06,120 --> 00:29:10,240 S6: you know, once the money rolls in, later on as 479 00:29:10,240 --> 00:29:14,200 S6: you get older, you know, um, you want to have 480 00:29:14,200 --> 00:29:17,160 S6: something for your kids in case something happens to you. 481 00:29:17,200 --> 00:29:20,200 S1: Yes, I get it. Well, and that's where you have 482 00:29:20,200 --> 00:29:23,280 S1: the ability to take a longer time horizon just because 483 00:29:23,280 --> 00:29:25,840 S1: you're looking not only throughout the rest of your life. 484 00:29:25,840 --> 00:29:27,640 S1: And if the Lord tarries and you're in good health, 485 00:29:27,680 --> 00:29:31,880 S1: may be a while, but also into, uh, your kids 486 00:29:31,880 --> 00:29:34,720 S1: lives as well, knowing that this money will ultimately end 487 00:29:34,720 --> 00:29:37,600 S1: up in in their hands. Thank you for calling, Cynthia. 488 00:29:37,600 --> 00:29:40,080 S1: I hope that's helpful. Let's go to Florida. Steve. Go ahead. 489 00:29:42,400 --> 00:29:42,800 S3: Hi. 490 00:29:43,960 --> 00:29:44,480 S1: Hi, there. 491 00:29:45,960 --> 00:29:52,800 S7: My question is I took too many indirect rollovers in 492 00:29:52,800 --> 00:29:57,800 S7: 2025 because I was not aware of the limitation of 493 00:29:57,800 --> 00:30:02,000 S7: only one of those in a 12 month period. So 494 00:30:02,280 --> 00:30:08,160 S7: I'm wondering if I would have a chance of getting, uh, 495 00:30:09,920 --> 00:30:14,360 S7: some exception from the IRS, either directly or with the 496 00:30:14,360 --> 00:30:18,550 S7: help of a CPA and or a lawyer. 497 00:30:19,070 --> 00:30:24,350 S1: Yeah. You know, most of those cases don't get overturned, unfortunately. Um, 498 00:30:24,790 --> 00:30:27,790 S1: you know, if the law basically says you can have 499 00:30:27,790 --> 00:30:32,469 S1: one indirect IRA to IRA rollover per 12 month period 500 00:30:32,470 --> 00:30:35,670 S1: across all your IRAs. So if there was more than one, 501 00:30:35,670 --> 00:30:39,990 S1: they're usually treated as a taxable distribution. Um, you know 502 00:30:40,030 --> 00:30:42,910 S1: a professional might make sense if we're talking a very 503 00:30:42,910 --> 00:30:46,710 S1: large dollar amount. So there was a custodial error or 504 00:30:46,710 --> 00:30:51,670 S1: bad advice or documentation you relied on that was incorrect. 505 00:30:51,870 --> 00:30:55,790 S1: But again, you know, the taxpayer is the one responsible 506 00:30:55,790 --> 00:30:58,350 S1: for this unfortunately. Let's talk a bit more off the air. 507 00:30:58,350 --> 00:31:07,390 S1: We'll be right back. Great to have you with us 508 00:31:07,390 --> 00:31:09,790 S1: today on Faith and finance live I'm Rob West. Well 509 00:31:09,790 --> 00:31:12,870 S1: it's a Friday. Jerry Boyer's here. And Jerry big news 510 00:31:12,870 --> 00:31:16,860 S1: coming out of Washington today. The uh the tariffs President Trump's, 511 00:31:17,020 --> 00:31:20,860 S1: I would say, signature economic policy struck down. What do 512 00:31:20,860 --> 00:31:22,020 S1: you make of today's ruling? 513 00:31:23,020 --> 00:31:26,220 S8: Um, I think the courts are right. Uh, I think 514 00:31:26,260 --> 00:31:28,900 S8: in the United States Constitution we have something called separation 515 00:31:28,900 --> 00:31:31,420 S8: of powers. We have a legislative branch. We have an 516 00:31:31,420 --> 00:31:35,100 S8: executive branch. We have a judicial branch. And the legislative 517 00:31:35,100 --> 00:31:40,580 S8: branch makes laws, um, taxes, things like tariffs are laws. Um, 518 00:31:40,940 --> 00:31:45,500 S8: and the Constitution is, is extremely clear that taxes particularly 519 00:31:45,500 --> 00:31:49,220 S8: are associated with the legislative branch and the House of Representatives. 520 00:31:49,260 --> 00:31:53,860 S8: Presidents are not allowed to raise taxes. Um, presidents can 521 00:31:53,860 --> 00:31:58,860 S8: execute the laws that Congress passes. Um, and now sometimes 522 00:31:58,860 --> 00:32:02,460 S8: tariffs are part of treaties, right? Um, and the president 523 00:32:02,460 --> 00:32:06,380 S8: might be part of negotiating treaties, but are always comes back, uh, 524 00:32:06,380 --> 00:32:08,820 S8: to article one. And there's a reason article one is 525 00:32:08,820 --> 00:32:11,700 S8: the first article in the Constitution, because that's the branch 526 00:32:11,700 --> 00:32:15,620 S8: that's closest to the people, namely the the legislative branch. Um, 527 00:32:15,620 --> 00:32:19,740 S8: so whether one likes the president's trade war tariff protection 528 00:32:19,940 --> 00:32:24,540 S8: agenda or whether one doesn't. Uh, I like the Constitution. Um, 529 00:32:24,780 --> 00:32:28,540 S8: and I think it's served us well, um, and I yeah, 530 00:32:28,580 --> 00:32:31,340 S8: I think that, um, the, the court upheld that. And 531 00:32:31,340 --> 00:32:34,860 S8: I will note, uh, that, um, it was a mix 532 00:32:34,860 --> 00:32:38,380 S8: of conservative and liberal judges that voted, you know, against 533 00:32:38,420 --> 00:32:41,900 S8: the against the president on this. Um, and also one 534 00:32:41,900 --> 00:32:44,060 S8: of the particular issues was that he used kind of 535 00:32:44,100 --> 00:32:48,620 S8: an emergency law that was passed and passed in 1977, um, 536 00:32:48,940 --> 00:32:52,979 S8: saying that the trade deficits are an emergency the vast 537 00:32:52,980 --> 00:32:57,020 S8: majority of years since the American founding, you know, uh, 538 00:32:57,020 --> 00:32:59,860 S8: you know, almost 250 years ago, for the vast majority 539 00:32:59,860 --> 00:33:03,300 S8: of those years, we ran trade deficits. There's some the 540 00:33:03,340 --> 00:33:05,820 S8: American economy, by the way, economies that are fast growing 541 00:33:05,860 --> 00:33:09,460 S8: tend to run trade deficits, um, because the trade deficit 542 00:33:09,460 --> 00:33:12,500 S8: is a capital surplus, right. You buy things from overseas 543 00:33:12,740 --> 00:33:16,450 S8: and people invest in you. So the so to say 544 00:33:16,450 --> 00:33:18,930 S8: that we have a trade deficit. Sounds like a bad thing. 545 00:33:19,210 --> 00:33:22,410 S8: But what it really means is we buy goods and 546 00:33:22,410 --> 00:33:25,170 S8: services from abroad, and that money comes back in the 547 00:33:25,170 --> 00:33:28,210 S8: form of investment. Since we've been a fast growing economy, 548 00:33:28,250 --> 00:33:31,170 S8: we tend to attract a lot of investment. So that 549 00:33:31,170 --> 00:33:34,450 S8: trade balance reflects that. I'm not saying it's always good 550 00:33:34,450 --> 00:33:36,130 S8: or I mean, you know, I live in Pittsburgh. I 551 00:33:36,170 --> 00:33:38,970 S8: grew up in Allentown, right? You know, the Billy Joel song. 552 00:33:39,010 --> 00:33:40,730 S8: You know, I've seen what happens to this. You know, 553 00:33:40,770 --> 00:33:43,730 S8: when the steel industry was hurt by foreign competition. I'm 554 00:33:43,730 --> 00:33:46,130 S8: not insensitive to that. But if you're going to try 555 00:33:46,130 --> 00:33:49,090 S8: to do something about that, you know, 40 years ago 556 00:33:49,130 --> 00:33:52,490 S8: would have been the time to do that, to stop it. But, 557 00:33:52,530 --> 00:33:55,810 S8: you know, then these, you know, these things went overseas, 558 00:33:55,810 --> 00:33:59,170 S8: these activities and processes went overseas. And now to try 559 00:33:59,170 --> 00:34:02,130 S8: to bring them back is a much more difficult thing. Uh, 560 00:34:02,130 --> 00:34:04,850 S8: so I think the Supreme Court was right in this ruling. 561 00:34:04,850 --> 00:34:06,930 S8: And frankly, I think they did the president a favor. 562 00:34:06,930 --> 00:34:10,129 S8: I know he's upset about it, but tariffs raise the 563 00:34:10,130 --> 00:34:13,759 S8: prices of consumer goods. Um, and I think that the 564 00:34:13,760 --> 00:34:17,279 S8: president was elected not mainly because of his personal style 565 00:34:17,320 --> 00:34:20,040 S8: that might have even counted against him or not, mainly 566 00:34:20,040 --> 00:34:22,560 S8: because of his position on other issues. I think the 567 00:34:22,560 --> 00:34:25,920 S8: president was mainly elected because under Biden there was high 568 00:34:25,920 --> 00:34:29,600 S8: inflation and people went to the grocery store and then 569 00:34:29,600 --> 00:34:32,160 S8: they that's I think people decide to vote either when 570 00:34:32,160 --> 00:34:34,640 S8: they're pumping gas, filling up their tank or when they're 571 00:34:34,640 --> 00:34:39,120 S8: shopping for groceries. Um, and the president, although Trump has 572 00:34:39,120 --> 00:34:43,040 S8: had lower inflation than under Biden, it's still above average 573 00:34:43,040 --> 00:34:46,320 S8: and prices are still going up. They haven't come back down. Right. 574 00:34:46,360 --> 00:34:49,560 S8: So um, I think the tariffs didn't help with that. 575 00:34:49,560 --> 00:34:52,280 S8: So getting rid of them, if the president can resist 576 00:34:52,280 --> 00:34:55,319 S8: the temptation to go off and start tweeting again and 577 00:34:55,320 --> 00:34:57,839 S8: we're going to do 200% tariffs on, you know, on 578 00:34:57,840 --> 00:35:00,879 S8: the North Pole or whatever, if he can kind of 579 00:35:00,920 --> 00:35:03,920 S8: stay calm, uh, and take the gift and let the 580 00:35:03,920 --> 00:35:06,440 S8: economy grow, I think he, he and the country would 581 00:35:06,480 --> 00:35:07,240 S8: be better off. 582 00:35:08,080 --> 00:35:10,790 S1: Yeah. Because to your point, you've made this many times. 583 00:35:10,790 --> 00:35:14,270 S1: You actually like a lot of the other economic policies, 584 00:35:14,270 --> 00:35:16,670 S1: including the one big beautiful bill. 585 00:35:17,390 --> 00:35:21,550 S8: I like almost everything except the trade war. Um, so, uh, 586 00:35:21,830 --> 00:35:26,830 S8: because I think that that the President Trump's agenda largely 587 00:35:26,830 --> 00:35:31,750 S8: works when it coincides with the traditional conservative agenda. So 588 00:35:31,790 --> 00:35:36,270 S8: what what the Republican Party has been since Reagan small government, 589 00:35:36,270 --> 00:35:41,750 S8: flat low taxes, um, sound money that works. And basically 590 00:35:41,750 --> 00:35:45,310 S8: that was the vision of America during most of its history. Um, 591 00:35:45,430 --> 00:35:48,710 S8: and I think it's where President Trump tries to do 592 00:35:48,710 --> 00:35:53,710 S8: something different from the rest of the conservative tradition, where 593 00:35:53,710 --> 00:35:57,430 S8: he tries to do like, as you said, his signature move. Right. 594 00:35:57,469 --> 00:36:01,670 S8: So what's your signature? Your signature differentiates, differentiates, differentiates you 595 00:36:01,670 --> 00:36:05,910 S8: from everybody else. So when Trump is just a solid 596 00:36:05,910 --> 00:36:09,990 S8: kind of American reaganite conservative, we find that stuff works 597 00:36:09,989 --> 00:36:12,350 S8: when he says, oh no, I have to be different. Uh, 598 00:36:12,510 --> 00:36:16,670 S8: I'm going to do, say, mass deportations. Uh, I'm going 599 00:36:16,670 --> 00:36:19,709 S8: to do trade wars. Uh, or I'm going to push 600 00:36:19,710 --> 00:36:22,270 S8: the fed. I'm going to try to undermine the independence 601 00:36:22,270 --> 00:36:25,230 S8: of the fed by pushing for more monetary easing. The 602 00:36:25,230 --> 00:36:28,910 S8: stuff when he departs from the long term conservative consensus 603 00:36:29,190 --> 00:36:32,590 S8: that his signature moves, his distinct moves, those are the 604 00:36:32,590 --> 00:36:35,030 S8: things that tend not to work. But when he sticks 605 00:36:35,030 --> 00:36:38,910 S8: to the traditional conservative agenda, that works. Um, and I 606 00:36:38,910 --> 00:36:40,910 S8: think it will work, which is why we don't need 607 00:36:40,950 --> 00:36:44,350 S8: tariffs and we don't need monetary stimulus. We just need 608 00:36:44,350 --> 00:36:46,509 S8: to get out of the way. The president already did 609 00:36:46,510 --> 00:36:49,589 S8: what he needed to do to give us a booming economy. Uh, 610 00:36:49,590 --> 00:36:52,069 S8: at this point, let it run. Mr. president, you've done 611 00:36:52,070 --> 00:36:52,670 S8: your job. 612 00:36:53,070 --> 00:36:56,790 S1: Yeah. All right. Well, we'll let that play out. And 613 00:36:56,790 --> 00:36:59,430 S1: hopefully you're right, Jerry. And I think, uh, you know, 614 00:36:59,469 --> 00:37:01,990 S1: he's he's got a lot, uh, in his favor here. 615 00:37:01,989 --> 00:37:05,390 S1: If we can, uh, let these, uh, this deregulation and 616 00:37:05,390 --> 00:37:08,100 S1: lower taxes do what it does best. All right. Let's 617 00:37:08,100 --> 00:37:10,740 S1: pivot here for a second. Uh, there was a pretty 618 00:37:10,739 --> 00:37:13,980 S1: big announcement you, uh, and others made in the last 619 00:37:13,980 --> 00:37:16,700 S1: few weeks just regarding one of the biggest companies in 620 00:37:16,700 --> 00:37:19,420 S1: the world, making some commitments. Tell us about that. 621 00:37:19,660 --> 00:37:22,739 S8: Yeah. I mean, you have to be more specific, my friend. Um, 622 00:37:22,739 --> 00:37:24,340 S8: are you talking about Bank of America or. 623 00:37:24,500 --> 00:37:29,020 S1: I was talking about Walmart, but whatever you would prefer Walmart. 624 00:37:29,020 --> 00:37:31,140 S8: We can do Bank of America. Uh, Walmart. 625 00:37:31,540 --> 00:37:33,580 S1: That's good news. That there's more than one to pick 626 00:37:33,580 --> 00:37:34,860 S1: from there. 627 00:37:34,900 --> 00:37:37,100 S8: There's more than one in any week to pick from. 628 00:37:37,140 --> 00:37:39,620 S8: I mean, I'm it's jaw dropping what I'm seeing in 629 00:37:39,620 --> 00:37:42,100 S8: corporate America right now. So Walmart was a couple of 630 00:37:42,100 --> 00:37:44,900 S8: weeks ago and Walmart, uh, said, um, you know, we're 631 00:37:44,900 --> 00:37:47,700 S8: not going to sell the abortion pill. Uh, we want 632 00:37:47,700 --> 00:37:50,580 S8: to be retailers. We want to what? It was really 633 00:37:50,580 --> 00:37:52,820 S8: interesting what they said. They said, we're a retail company. 634 00:37:52,820 --> 00:37:55,460 S8: We want to sell bananas. Um, so they don't want 635 00:37:55,500 --> 00:37:58,540 S8: to sell abortion pills. Um, to which I said, that's 636 00:37:58,540 --> 00:38:01,660 S8: great because, you know who eats bananas? Babies eat bananas. Uh, 637 00:38:01,700 --> 00:38:05,140 S8: I'm a father of seven. Grandfather of six. One isn't 638 00:38:05,140 --> 00:38:07,370 S8: born yet, so I fed a lot of bananas to 639 00:38:07,410 --> 00:38:11,850 S8: a lot of babies. So in essence, Walmart, you can 640 00:38:11,850 --> 00:38:14,890 S8: sell an abortion pill once or you can sell bananas 641 00:38:14,890 --> 00:38:17,930 S8: for a long time. Yeah. And I think they made 642 00:38:17,930 --> 00:38:21,410 S8: the right decision there selling bananas for a long time. Also, 643 00:38:21,450 --> 00:38:26,570 S8: their health care plan does not include sexual transition treatments 644 00:38:26,570 --> 00:38:31,410 S8: for minors children of employees. That's great in and of itself. 645 00:38:31,530 --> 00:38:33,770 S8: But it also is really important because it says to 646 00:38:33,810 --> 00:38:35,569 S8: a lot of the rest of corporate America that we're 647 00:38:35,570 --> 00:38:37,810 S8: talking to about this, who says, well, you know, we 648 00:38:37,810 --> 00:38:41,930 S8: just do what Aetna says, or UnitedHealthCare or, uh, you know, 649 00:38:41,969 --> 00:38:45,130 S8: we just do what our healthcare coverage carrier said. Um, 650 00:38:45,130 --> 00:38:47,489 S8: and to which, you know, we're saying, yeah, but if 651 00:38:47,530 --> 00:38:50,609 S8: you get sued, they don't pay your bills. You have 652 00:38:50,610 --> 00:38:54,129 S8: to make your own independent decisions about this. Uh, and 653 00:38:54,130 --> 00:38:57,489 S8: Walmart can so can everybody else. So that's a huge 654 00:38:57,489 --> 00:39:00,089 S8: step in the right direction. Now last week was Bank 655 00:39:00,090 --> 00:39:04,370 S8: of America, uh, saying that we are getting rid of any, 656 00:39:04,730 --> 00:39:07,970 S8: you know, discrimination. They didn't say discrimination. I'm saying that 657 00:39:07,969 --> 00:39:12,090 S8: we're getting rid of any distinction in our employee match. Um, 658 00:39:12,090 --> 00:39:14,530 S8: it used to be that if you wanted to give 659 00:39:14,530 --> 00:39:17,489 S8: to a nonprofit, you could. Except if it was a 660 00:39:17,489 --> 00:39:20,890 S8: church or synagogue or mosque you couldn't. Or a religious ministry, 661 00:39:20,930 --> 00:39:24,649 S8: you know, like evangelistic ministry, something that had a religious 662 00:39:24,650 --> 00:39:28,250 S8: purpose you could give to a religiously inspired soup kitchen, 663 00:39:28,250 --> 00:39:32,290 S8: but you couldn't give to a religiously inspired, you know, church. Um, 664 00:39:32,330 --> 00:39:34,450 S8: and as part of that program, you know, we talked 665 00:39:34,450 --> 00:39:36,410 S8: to them about it and we said, you know, if 666 00:39:36,450 --> 00:39:38,810 S8: you're if you're in the point, if you put yourself 667 00:39:38,810 --> 00:39:40,730 S8: in the position of saying like, which group is a 668 00:39:40,730 --> 00:39:42,969 S8: hate group or which group is too political, or which 669 00:39:42,969 --> 00:39:46,169 S8: group is too liberal or too conservative or too religious, 670 00:39:46,210 --> 00:39:50,570 S8: you're going to expose yourself to endless con, you know, conflict. 671 00:39:50,690 --> 00:39:52,890 S8: But if you just get out of that business and say, 672 00:39:52,890 --> 00:39:57,489 S8: if the IRS says, here's the determination letter, they're on 673 00:39:57,489 --> 00:40:01,450 S8: our website as a bona fide confirmed 500 1C3 tax 674 00:40:01,450 --> 00:40:05,200 S8: exempt nonprofit, then you'll match to them. And then who can? 675 00:40:05,239 --> 00:40:08,160 S8: Who can complain about that? The IRS says they're legit, 676 00:40:08,200 --> 00:40:11,120 S8: we're saying they're legit. And they said, yeah, that's that's 677 00:40:11,120 --> 00:40:13,720 S8: a good idea. That's kind of insightful. That's really helpful. Okay, 678 00:40:13,719 --> 00:40:16,160 S8: we'll do it. Uh, so they they made that change, 679 00:40:16,160 --> 00:40:19,440 S8: by the way, not just them. A lot of other companies, 680 00:40:19,440 --> 00:40:22,760 S8: including Nvidia, largest company in the world, made that change. Um, 681 00:40:23,200 --> 00:40:27,920 S8: so what what I'm seeing is, is amazing. We don't 682 00:40:27,920 --> 00:40:29,560 S8: we don't have time to talk about it because we're 683 00:40:29,600 --> 00:40:32,600 S8: actually doing it. But there is something going on in 684 00:40:32,600 --> 00:40:35,440 S8: corporate America. All the stuff that was happening for years 685 00:40:35,440 --> 00:40:38,240 S8: that we were all shocked by, how they were getting 686 00:40:38,239 --> 00:40:41,320 S8: caught up in, that we're seeing all that tumbling down 687 00:40:41,320 --> 00:40:44,719 S8: before our eyes as we meet every day with company 688 00:40:44,719 --> 00:40:47,800 S8: after company, and just reason together with them. The vast 689 00:40:47,800 --> 00:40:51,320 S8: majority of them are doing something meaningful in response to that. 690 00:40:51,640 --> 00:40:54,480 S1: It's incredible, Jerry, because, you know, we talk about the 691 00:40:54,480 --> 00:40:59,400 S1: various domains where we can, uh, really advocate for religious values. 692 00:40:59,400 --> 00:41:01,560 S1: We can do that in the halls of Washington. We 693 00:41:01,560 --> 00:41:04,149 S1: can do that in the public square. This idea that 694 00:41:04,150 --> 00:41:07,109 S1: we can do that with the biggest corporations in the 695 00:41:07,110 --> 00:41:11,109 S1: world and see meaningful progress is a big deal, and 696 00:41:11,110 --> 00:41:13,070 S1: it has far reaching implications. 697 00:41:13,590 --> 00:41:15,950 S8: Yes, I would argue that it has more far reaching 698 00:41:15,950 --> 00:41:19,190 S8: implications than our political votes. You vote for a president, 699 00:41:19,190 --> 00:41:21,710 S8: all right. You get four years, maybe you'll get eight years. 700 00:41:21,710 --> 00:41:24,069 S8: But you change policy at companies, corporations. Some of these 701 00:41:24,070 --> 00:41:27,990 S8: corporations have been around 100 to 150 years. And frankly, 702 00:41:28,030 --> 00:41:31,750 S8: I'm capitalistic enough to believe that corporations are, you know, 703 00:41:31,790 --> 00:41:34,710 S8: they're more efficient than governments. So if I'm going to 704 00:41:34,750 --> 00:41:37,710 S8: influence one in the right direction, I'm going to choose, 705 00:41:38,030 --> 00:41:39,910 S8: you know, who to influence in the right direction. I'm 706 00:41:39,950 --> 00:41:42,469 S8: going to choose the entities that attract a lot of 707 00:41:42,469 --> 00:41:44,870 S8: top talent and are actually good at what they do, 708 00:41:45,070 --> 00:41:46,750 S8: because if they're doing good, they can do a lot 709 00:41:46,750 --> 00:41:48,190 S8: of good. And if they're doing bad, they can do 710 00:41:48,190 --> 00:41:51,390 S8: a lot of bad, and they have the right incentives, 711 00:41:51,670 --> 00:41:53,509 S8: you know, over the long run. So it's not hard 712 00:41:53,510 --> 00:41:56,790 S8: to talk to these companies. Once the fever broke, you know, 713 00:41:56,830 --> 00:42:00,190 S8: where there was just this tremendous pressure, you know, the 714 00:42:00,270 --> 00:42:02,910 S8: puberty blockers and you know, all the rest of it, 715 00:42:02,950 --> 00:42:06,270 S8: there's tremendous pressure. Once that fever broke. Um, they'd be 716 00:42:06,270 --> 00:42:08,390 S8: able to talk to companies and say, do you really 717 00:42:08,390 --> 00:42:10,830 S8: need to? You need to tell me that it's okay 718 00:42:10,830 --> 00:42:13,029 S8: to have a pride employee resource group, but it's not 719 00:42:13,030 --> 00:42:15,790 S8: okay to have a Christian one. How do you justify that? 720 00:42:15,830 --> 00:42:17,390 S8: And a lot of them said, you know what? We're 721 00:42:17,390 --> 00:42:19,590 S8: not going to justify it. Hey, we have a Christian 722 00:42:19,590 --> 00:42:21,950 S8: employee resource group now and a Jewish one and a 723 00:42:21,950 --> 00:42:24,950 S8: muslim one, uh, which is great because we get to 724 00:42:24,950 --> 00:42:27,430 S8: bring our whole selves to work, and God loves all 725 00:42:27,430 --> 00:42:28,790 S8: of us. And so we should all be able to 726 00:42:28,790 --> 00:42:29,790 S8: have that expression. 727 00:42:30,030 --> 00:42:32,350 S1: Amen. Well, let's leave it there, Jerry. We'll let you 728 00:42:32,350 --> 00:42:34,790 S1: get back to work, because you're doing great work. And 729 00:42:34,790 --> 00:42:36,310 S1: thanks for sharing it with us today. 730 00:42:37,030 --> 00:42:37,710 S8: My pleasure. 731 00:42:37,989 --> 00:42:44,310 S1: Alright, that's Jerry Bowyer, folks. He's our resident economist, good friend. And, uh, well, he's, uh, 732 00:42:44,310 --> 00:42:47,030 S1: a key part of this program week in and week out. 733 00:42:47,070 --> 00:42:49,150 S1: Thanks for being with us today. I couldn't do this 734 00:42:49,150 --> 00:42:51,790 S1: without my amazing team, Jim, to hear a Josh and 735 00:42:51,790 --> 00:42:54,950 S1: Dan faith and finance lives, a partnership between Moody Radio 736 00:42:54,950 --> 00:42:57,030 S1: and Faith fi. We'll see you next time.