1 00:00:08,520 --> 00:00:12,120 S1: In rural Malawi, many children wake each day unsure if 2 00:00:12,119 --> 00:00:16,000 S1: they'll eat and relying on water that can make them sick. Hi, 3 00:00:16,040 --> 00:00:19,760 S1: I'm Rob West. That reality shapes daily life for families 4 00:00:19,760 --> 00:00:23,079 S1: living in deep poverty. Today, Aaron Griggs joins us to 5 00:00:23,120 --> 00:00:27,320 S1: share how Cross International is helping lift children out of poverty, 6 00:00:27,320 --> 00:00:31,160 S1: provide clean water, and point families to Christ. Then we'll 7 00:00:31,160 --> 00:00:37,760 S1: take your calls at 800 525 7000. That's 800 525 7000. 8 00:00:37,960 --> 00:00:41,200 S1: This is faith and finance. Live biblical wisdom for your 9 00:00:41,200 --> 00:00:47,760 S1: financial journey. Well, our guest today is Aaron Griggs with 10 00:00:47,760 --> 00:00:51,839 S1: Cross International, a Christian humanitarian and development ministry and a 11 00:00:51,840 --> 00:00:54,600 S1: valued partner of this program. Aaron, great to have you 12 00:00:54,600 --> 00:00:55,320 S1: back with us. 13 00:00:55,640 --> 00:00:57,480 S2: Hey, thanks, Rob. Always great to be here. 14 00:00:57,880 --> 00:01:00,360 S1: Aaron, we are so thrilled here at Faith fi to 15 00:01:00,360 --> 00:01:03,360 S1: be able to shine a light this quarter through the 16 00:01:03,360 --> 00:01:06,440 S1: end of March. On the incredible work you're doing at 17 00:01:06,440 --> 00:01:11,839 S1: Cross International. And we're talking specifically today about Malawi. I'd 18 00:01:11,840 --> 00:01:14,720 S1: love for you to help our listeners get their hands 19 00:01:14,720 --> 00:01:18,440 S1: around what daily life looks like for families and this 20 00:01:18,440 --> 00:01:22,280 S1: rural part of Malawi, particularly in a village like Tanganyika. 21 00:01:22,800 --> 00:01:26,480 S2: Yeah. Rob. Well, Tanganyika is a very remote village, so 22 00:01:26,520 --> 00:01:30,320 S2: very few resources in that area. And daily life for 23 00:01:30,319 --> 00:01:33,880 S2: people living there is really about basic survival. Often families 24 00:01:33,880 --> 00:01:36,720 S2: don't know where their next meal will come from. Kids 25 00:01:36,720 --> 00:01:40,039 S2: frequently go to bed on empty stomachs. The only water 26 00:01:40,040 --> 00:01:43,839 S2: available in these villages is from open sources like dug pits, 27 00:01:44,040 --> 00:01:48,160 S2: and so it's filled with bacteria. This frequently causes illness, 28 00:01:48,520 --> 00:01:52,200 S2: and it robs already malnourished children of nutrients that their 29 00:01:52,200 --> 00:01:56,080 S2: bodies desperately need. As far as housing in these areas, 30 00:01:56,200 --> 00:02:00,320 S2: families live in flimsy Embassy shelters that are really unsafe. 31 00:02:00,880 --> 00:02:04,520 S2: Sickness is widespread and there's very little access to medical care. 32 00:02:05,040 --> 00:02:08,000 S2: For the average family. School is unaffordable, and so that 33 00:02:08,000 --> 00:02:11,000 S2: prevents kids from getting the education, which could actually be 34 00:02:11,040 --> 00:02:13,960 S2: what lifts them out of poverty. And it's an area 35 00:02:13,960 --> 00:02:18,600 S2: that relies heavily on agriculture. And Malawi has experienced historic 36 00:02:18,600 --> 00:02:21,919 S2: droughts the last couple of years, which have decimated crop 37 00:02:21,919 --> 00:02:26,320 S2: production and further worsened the crisis, especially in these rural areas. 38 00:02:26,720 --> 00:02:30,440 S2: And yet, amid all of these struggles, we also see resilience. 39 00:02:30,639 --> 00:02:33,880 S2: These are hard working people. They're doing their best. They're 40 00:02:33,880 --> 00:02:36,720 S2: just trying to get by. And they're clinging to that 41 00:02:36,720 --> 00:02:40,480 S2: faint hope that someday their lives and their kids lives 42 00:02:40,480 --> 00:02:41,400 S2: might improve. 43 00:02:42,160 --> 00:02:45,960 S1: Yeah, I can imagine. You mentioned the water situation. I 44 00:02:45,960 --> 00:02:47,920 S1: want to talk about that for a moment. What does 45 00:02:47,919 --> 00:02:52,120 S1: it really mean for a child's health? This contaminated water 46 00:02:52,120 --> 00:02:54,600 S1: and how that relates to their ability to stay in 47 00:02:54,600 --> 00:02:56,239 S1: school and even build a future? 48 00:02:56,520 --> 00:02:59,440 S2: Yeah. Well, on a practical level, as we mentioned, drinking 49 00:02:59,440 --> 00:03:04,840 S2: unclean water often leads to repeated illnesses. And kids, especially girls, 50 00:03:04,840 --> 00:03:07,520 S2: often will help women with the gathering of water. So 51 00:03:07,520 --> 00:03:11,000 S2: they walk long distances multiple times a day to collect water. 52 00:03:11,440 --> 00:03:13,799 S2: All of these hours spent collecting water each day is 53 00:03:13,800 --> 00:03:16,600 S2: valuable time lost not only for those kids, but it 54 00:03:16,600 --> 00:03:20,119 S2: prevents women from being able to earn additional income which 55 00:03:20,120 --> 00:03:22,720 S2: could help their families. And so then school fees wind 56 00:03:22,720 --> 00:03:27,120 S2: up being unaffordable. All of these different factors contribute ultimately 57 00:03:27,120 --> 00:03:30,160 S2: to keeping kids out of the classroom. And then even 58 00:03:30,160 --> 00:03:31,880 S2: for some of the kids that are able to go 59 00:03:31,880 --> 00:03:34,960 S2: to school, they're not healthy. And that has a huge 60 00:03:34,960 --> 00:03:37,960 S2: impact on their development, their ability to be able to 61 00:03:38,000 --> 00:03:41,560 S2: learn and to focus so their education is hindered in 62 00:03:41,560 --> 00:03:44,040 S2: both the short and the long term as they just 63 00:03:44,040 --> 00:03:46,080 S2: keep falling further and further behind. 64 00:03:46,240 --> 00:03:50,480 S1: That is heartbreaking. But Cross International doesn't just respond in 65 00:03:50,480 --> 00:03:53,320 S1: the moment. You really take a thoughtful long term approach, 66 00:03:53,320 --> 00:03:53,920 S1: don't you? 67 00:03:54,480 --> 00:03:57,750 S2: Yeah, and key to that, Rob, is partnership. If I 68 00:03:57,750 --> 00:04:00,710 S2: could just share a brief clip from our president and CEO, 69 00:04:00,750 --> 00:04:03,790 S2: Zach Ollis, and he explains what our approach looks like. 70 00:04:03,830 --> 00:04:08,270 S3: We prioritize working with local ministries to break poverty cycles, 71 00:04:08,550 --> 00:04:12,110 S3: because we're not a ministry that will parachute ideas from 72 00:04:12,110 --> 00:04:16,950 S3: the outside. We want to have sustained long lasting change. 73 00:04:17,110 --> 00:04:20,750 S3: We want to make sure that it's the ideas of 74 00:04:20,790 --> 00:04:24,550 S3: the local community to lift themselves out of poverty. 75 00:04:24,910 --> 00:04:28,669 S2: Cross international just celebrated our 25th anniversary a couple of 76 00:04:28,670 --> 00:04:32,190 S2: months ago, and more than 70% of our current local 77 00:04:32,190 --> 00:04:34,710 S2: ministry partners have actually been with us for at least 78 00:04:34,710 --> 00:04:37,670 S2: ten years now. So we've had the privilege of being 79 00:04:37,670 --> 00:04:41,630 S2: able to witness God working in communities to bring transformation 80 00:04:41,630 --> 00:04:44,790 S2: over the long term in many different ways. And it's 81 00:04:44,790 --> 00:04:47,469 S2: our partnership with people like you here in the US 82 00:04:47,470 --> 00:04:51,229 S2: that has allowed this work to continue. Cross international acts 83 00:04:51,230 --> 00:04:53,830 S2: kind of like a bridge. And you are the ones 84 00:04:53,830 --> 00:04:56,510 S2: who enable our ministry partners around the globe to do 85 00:04:56,510 --> 00:04:57,310 S2: what they do. 86 00:04:57,830 --> 00:05:00,230 S1: MM. Well, we're so honored to partner with you to 87 00:05:00,270 --> 00:05:04,229 S1: provide food, clean water and education and restore dignity and 88 00:05:04,390 --> 00:05:07,670 S1: point hearts toward Jesus through this partnership, folks. If you'd 89 00:05:07,670 --> 00:05:11,190 S1: like to help us reach our goal of 250 children 90 00:05:11,430 --> 00:05:15,070 S1: reached with the gospel and food and clean water, you 91 00:05:15,070 --> 00:05:22,029 S1: can go to faith fi.com/cross. That's faith fi.com/more with Erin 92 00:05:22,029 --> 00:05:36,430 S1: Griggs right around the corner. Stay with us. In rural Malawi, 93 00:05:36,470 --> 00:05:39,589 S1: many children wake up each day unsure if they'll eat 94 00:05:39,589 --> 00:05:42,270 S1: and relying on water that can make them sick. Today 95 00:05:42,270 --> 00:05:45,669 S1: we're talking about the work of Cross International and the 96 00:05:45,670 --> 00:05:50,310 S1: partnership with Faith fi this quarter to reach 250 children, 97 00:05:50,310 --> 00:05:53,270 S1: not only with clean water and food, but with the 98 00:05:53,310 --> 00:05:55,950 S1: Gospel of Jesus Christ, but done in a way that 99 00:05:55,990 --> 00:06:00,790 S1: leads to long term transformation with us today. Our friend 100 00:06:00,790 --> 00:06:03,630 S1: Aaron Griggs with Cross International. By the way, if you'd 101 00:06:03,630 --> 00:06:06,430 S1: like to help reach one of these children with life 102 00:06:06,470 --> 00:06:10,710 S1: saving food and the gospel and pulling them out of poverty, 103 00:06:10,750 --> 00:06:16,590 S1: you can do that when you partner with us. faith.com/cross. Uh, Aaron, 104 00:06:16,589 --> 00:06:21,070 S1: we were talking about this village in Tanganyika that's in 105 00:06:21,070 --> 00:06:24,590 S1: rural Malawi, and we were talking about really the approach 106 00:06:24,589 --> 00:06:29,950 S1: you take across international that leads to long term transformation. 107 00:06:30,150 --> 00:06:32,750 S1: How does that lasting change begin? 108 00:06:33,150 --> 00:06:36,230 S2: Yeah. So in Tanganyika village there in Malawi, we partner 109 00:06:36,230 --> 00:06:40,270 S2: with Ambuja Development Center, where we offer an after school 110 00:06:40,270 --> 00:06:43,150 S2: program that has been growing a lot over the past 111 00:06:43,150 --> 00:06:46,589 S2: number of years and now hosts several hundred children each day. 112 00:06:47,150 --> 00:06:49,190 S2: And I'd like to introduce you to one of those kids. 113 00:06:49,190 --> 00:06:52,270 S2: She's a young girl named Bree. She's six years old, 114 00:06:52,589 --> 00:06:56,469 S2: middle of three children, and long before she began attending 115 00:06:56,470 --> 00:06:59,869 S2: the program, her dad passed away. That left her mom 116 00:06:59,870 --> 00:07:02,550 S2: to raise Bri and her siblings alone. And then, to 117 00:07:02,589 --> 00:07:06,950 S2: make matters worse, relatives on Bree's father's side rejected them, 118 00:07:07,190 --> 00:07:09,870 S2: and they actually took away all of her family's property. 119 00:07:10,310 --> 00:07:13,750 S2: Left with nowhere else to go, Bree's mom, who, by 120 00:07:13,750 --> 00:07:16,270 S2: the way, her name is Ines. She moved the family 121 00:07:16,270 --> 00:07:20,030 S2: into a two room thatched house. Just very basic that 122 00:07:20,030 --> 00:07:22,350 S2: a woman that Ines worked for let them stay in 123 00:07:22,350 --> 00:07:26,150 S2: on a temporary basis. That house had no ventilation. The 124 00:07:26,150 --> 00:07:29,630 S2: roof would leak anytime it rained, and too much rain 125 00:07:29,630 --> 00:07:32,190 S2: could cause the house to collapse. So it really wasn't 126 00:07:32,230 --> 00:07:36,110 S2: a safe place to be, especially for kids. Bree often 127 00:07:36,110 --> 00:07:38,670 S2: would go to bed without having eaten all day. She 128 00:07:38,670 --> 00:07:43,350 S2: was frequently sick from drinking unclean water. Her mom, meanwhile, 129 00:07:43,350 --> 00:07:46,470 S2: could only find seasonal work that didn't pay nearly enough, 130 00:07:46,910 --> 00:07:50,670 S2: and school was completely out of the question. But everything 131 00:07:50,670 --> 00:07:55,030 S2: changed when Bree was invited to Cross International's after school program. 132 00:07:55,390 --> 00:07:58,350 S2: Her school fees were paid for allowing her to return 133 00:07:58,350 --> 00:08:01,710 S2: to the classroom. Like all of the other kids attending 134 00:08:01,710 --> 00:08:06,030 S2: the program, she receives a nutritious hot meal daily. She 135 00:08:06,030 --> 00:08:09,429 S2: gets help with her schoolwork, enjoys fun games and activities, 136 00:08:09,750 --> 00:08:12,110 S2: gets to spend time just being a kid, hanging out 137 00:08:12,110 --> 00:08:15,470 S2: with her friends, and she's taught Bible lessons and praise 138 00:08:15,470 --> 00:08:18,910 S2: while she's there. Bree has a giving heart. She loves 139 00:08:18,910 --> 00:08:21,750 S2: to help others, and she tells us when she grows up, 140 00:08:21,750 --> 00:08:23,830 S2: she wants to be on an airplane. She wants to 141 00:08:23,830 --> 00:08:27,710 S2: be an airline hostess. She also shared with us that 142 00:08:27,710 --> 00:08:31,710 S2: her favorite Bible story is that of Zacchaeus. Bree likes 143 00:08:31,710 --> 00:08:33,870 S2: that he was so determined to see Jesus that he 144 00:08:33,870 --> 00:08:36,550 S2: climbed all the way up a tree. And then Jesus 145 00:08:36,550 --> 00:08:39,949 S2: responded by going and actually eating with him at his house. 146 00:08:40,470 --> 00:08:43,829 S2: Bree understands now that Jesus loves her too, and he 147 00:08:43,830 --> 00:08:46,550 S2: is always with her. So we can see seeds of 148 00:08:46,550 --> 00:08:50,030 S2: faith being planted in her heart at a very young age. 149 00:08:50,470 --> 00:08:55,709 S1: That is incredible. And that spiritual foundation really sits at 150 00:08:55,710 --> 00:08:58,750 S1: the center of everything that you do at Cross International, 151 00:08:58,750 --> 00:08:59,310 S1: doesn't it? 152 00:08:59,870 --> 00:09:04,349 S2: It certainly does. One of our local leaders there in Malawi, 153 00:09:04,390 --> 00:09:09,670 S2: Doctor Victor Mazzuca, who's the director of Ambuja, speaks powerfully 154 00:09:09,670 --> 00:09:12,510 S2: about that. He says that children need to learn the 155 00:09:12,550 --> 00:09:15,150 S2: gospel while they are young, to know the Word of 156 00:09:15,150 --> 00:09:16,510 S2: God early in life. 157 00:09:16,870 --> 00:09:20,670 S4: Because when they grow without it, it becomes difficult later 158 00:09:20,670 --> 00:09:22,910 S4: on in life. They can be able to survive. They 159 00:09:22,910 --> 00:09:25,750 S4: can be able to know that in my life, the 160 00:09:25,750 --> 00:09:29,150 S4: provider is God. All of us are just servants and 161 00:09:29,150 --> 00:09:31,670 S4: it's God Himself who is caring for them. And they 162 00:09:31,670 --> 00:09:35,270 S4: will understand where to cry to, who to pray to 163 00:09:35,590 --> 00:09:38,390 S4: in order for them to improve their lives and improve 164 00:09:38,390 --> 00:09:42,030 S4: their livelihood. But also, we have an ultimate goal that 165 00:09:42,030 --> 00:09:44,510 S4: we want as many people as possible to enter the 166 00:09:44,510 --> 00:09:45,470 S4: Kingdom of God. 167 00:09:46,350 --> 00:09:51,739 S1: Wow. That's powerful. Serving practical needs while pointing people to Christ. Aaron, 168 00:09:51,900 --> 00:09:54,940 S1: how have you seen this after school program impact families 169 00:09:54,940 --> 00:09:56,660 S1: and even the broader community there? 170 00:09:57,220 --> 00:10:00,260 S2: Yeah. Rob. Well, going back to Bree's family, Bree's mom 171 00:10:00,260 --> 00:10:02,579 S2: and niece, who we talked about, not only does she 172 00:10:02,580 --> 00:10:04,980 S2: no longer have to worry about whether she can afford 173 00:10:04,980 --> 00:10:08,260 S2: to send her kids to school, but Cross International has 174 00:10:08,260 --> 00:10:11,060 S2: helped Ines launch her own small business so that she 175 00:10:11,059 --> 00:10:13,980 S2: can provide for her family in a way that's sustainable 176 00:10:14,380 --> 00:10:17,579 S2: and in this way, restoring dignity and bringing hope for 177 00:10:17,580 --> 00:10:20,460 S2: a brighter future. The center has become kind of like 178 00:10:20,460 --> 00:10:23,500 S2: a second home for this family and other families, and 179 00:10:23,500 --> 00:10:27,220 S2: that's frequently stops by the center, where she participates in 180 00:10:27,220 --> 00:10:30,980 S2: prayer sessions and receive support and encouragement, both as a 181 00:10:30,980 --> 00:10:34,060 S2: single mom and in her walk with the Lord to 182 00:10:34,100 --> 00:10:36,740 S2: paint a little picture for you. The after school program 183 00:10:36,740 --> 00:10:39,780 S2: itself takes place in a large fellowship hall that cross 184 00:10:39,820 --> 00:10:43,380 S2: funded construction of several years ago, and that building has 185 00:10:43,380 --> 00:10:46,939 S2: turned into a community hub of sorts. It's used not 186 00:10:46,940 --> 00:10:49,740 S2: only for that after school program, but also on the 187 00:10:49,740 --> 00:10:52,980 S2: weekends for worship services. And then it's opened up for 188 00:10:52,980 --> 00:10:56,700 S2: other community events as well. Also in the community, cross 189 00:10:56,700 --> 00:11:00,140 S2: has been able to provide clean water and housing. And 190 00:11:00,140 --> 00:11:04,020 S2: so as we meet all of these practical needs food education, 191 00:11:04,020 --> 00:11:07,540 S2: clean water, housing, it opens the door then to share 192 00:11:07,540 --> 00:11:11,100 S2: the love of Christ with families throughout the village. And 193 00:11:11,100 --> 00:11:13,780 S2: all of this is possible because of the generosity of 194 00:11:13,780 --> 00:11:17,980 S2: faithful Christ followers, including many faithful listeners who have partnered 195 00:11:17,980 --> 00:11:18,660 S2: with us. 196 00:11:18,860 --> 00:11:21,660 S1: Yeah. Well, we're so excited about that. And this work 197 00:11:21,660 --> 00:11:25,420 S1: isn't finished yet. I know there's still more children hoping 198 00:11:25,420 --> 00:11:27,660 S1: for the same opportunity, isn't there? 199 00:11:28,460 --> 00:11:32,020 S2: Yeah. Robin, we love telling stories of impact, but the 200 00:11:32,020 --> 00:11:35,579 S2: sad reality is that in an area that is this impoverished, 201 00:11:35,580 --> 00:11:37,940 S2: there are many more kids that are waiting to get 202 00:11:37,940 --> 00:11:41,380 S2: into the program. And oftentimes we have to say no 203 00:11:41,380 --> 00:11:44,780 S2: to many struggling families because there's simply not enough funding. 204 00:11:45,100 --> 00:11:49,219 S2: That includes families with single moms. It includes grandparents who 205 00:11:49,220 --> 00:11:53,780 S2: are raising their grandkids because those kids parents passed away. 206 00:11:54,660 --> 00:11:57,580 S2: So the need is great, but so is the opportunity. 207 00:11:58,820 --> 00:12:01,740 S2: And that's why we're here asking for you to join us, 208 00:12:01,740 --> 00:12:04,740 S2: to change the life of a child like Bree, or 209 00:12:04,740 --> 00:12:09,179 S2: perhaps 5 or 10 kids impacting entire families and communities 210 00:12:09,179 --> 00:12:13,579 S2: in the process. I'm reminded of the account in the Gospels, 211 00:12:13,580 --> 00:12:16,939 S2: where a young boy gave his five loaves of bread 212 00:12:16,940 --> 00:12:19,980 S2: and two fish to Jesus, and you know the rest 213 00:12:19,980 --> 00:12:23,020 S2: of the story. Jesus took that humble offering, and he 214 00:12:23,020 --> 00:12:26,340 S2: multiplied it to feed the hungry crowd of 5000 men, 215 00:12:26,660 --> 00:12:30,420 S2: and probably closer to ten or even 20,000 people, when 216 00:12:30,420 --> 00:12:33,819 S2: you count women and children. Now, of course, the size 217 00:12:33,820 --> 00:12:37,380 S2: of the offering really wasn't important. Jesus could have performed 218 00:12:37,380 --> 00:12:39,780 S2: the same miracle with three loaves and one fish, or 219 00:12:39,780 --> 00:12:43,260 S2: with any amount. But what matters is that the boy 220 00:12:43,340 --> 00:12:46,780 S2: willingly gave all he had to Jesus. You see, God 221 00:12:46,780 --> 00:12:49,740 S2: doesn't ask us to change the whole world. He simply 222 00:12:49,740 --> 00:12:53,020 S2: calls us to be faithful with our time, with our talents, 223 00:12:53,020 --> 00:12:56,460 S2: with our resources, and trust him to do the rest. 224 00:12:56,620 --> 00:12:59,500 S2: There is no limit to what God can do. And 225 00:12:59,500 --> 00:13:02,500 S2: as we follow Christ together, what a difference we can 226 00:13:02,500 --> 00:13:03,140 S2: all make. 227 00:13:03,540 --> 00:13:05,339 S1: There's no doubt about that. And that's why we are 228 00:13:05,340 --> 00:13:09,540 S1: so excited here at Faith fi to partner with Cross International. 229 00:13:10,100 --> 00:13:14,059 S1: This month, we're trying to lift 250 children out of 230 00:13:14,059 --> 00:13:17,700 S1: poverty in places like rural Malawi that you just heard 231 00:13:17,700 --> 00:13:20,260 S1: Aaron describe. And we want to say thanks to those 232 00:13:20,260 --> 00:13:23,980 S1: who have already helped us make great progress toward this goal. 233 00:13:23,980 --> 00:13:26,580 S1: We're not there yet. We'd love to even pass right 234 00:13:26,580 --> 00:13:31,340 S1: by it. Every gift of $62 provides school fees, daily meals, 235 00:13:31,340 --> 00:13:35,300 S1: clean water and biblical teaching that points children and their 236 00:13:35,300 --> 00:13:40,700 S1: families to Christ. You can give right now at faith fi.com/cross. 237 00:13:40,780 --> 00:13:43,380 S1: This is not a monthly amount. We're asking for one 238 00:13:43,420 --> 00:13:48,740 S1: time gifts faith.com/cross. Aaron, thanks for being with us today. 239 00:13:49,140 --> 00:13:50,540 S2: Thanks, Rob, I appreciate it. 240 00:13:50,780 --> 00:13:53,580 S1: That's Aaron Griggs with cross. International. Again folks, if you 241 00:13:53,580 --> 00:13:55,820 S1: want to help lift one of these children out of 242 00:13:55,820 --> 00:14:03,300 S1: poverty faith. That's faith.com/cross. We'll be back with your questions 243 00:14:03,300 --> 00:14:07,860 S1: after this break. So call right now 800 525 7000. 244 00:14:07,900 --> 00:14:12,500 S1: That's 800 525 7000. Or if you'd prefer to email 245 00:14:12,500 --> 00:14:17,540 S1: your questions, send it to us at askerov@faith.com. I'm Rob Weston, 246 00:14:17,540 --> 00:14:21,060 S1: you're listening to Faith and Finance Live Biblical Wisdom for 247 00:14:21,060 --> 00:14:23,380 S1: your financial journey. We'll be right back. 248 00:14:37,860 --> 00:14:41,300 S5: The opinions offered during this program represent the personal or 249 00:14:41,300 --> 00:14:46,100 S5: professional opinions of the participants given for informational purposes only. 250 00:14:46,340 --> 00:14:49,900 S5: Any information provided is not intended to replace advice from 251 00:14:49,900 --> 00:14:54,660 S5: a financial, medical, legal or other professional who understands your 252 00:14:54,660 --> 00:14:56,100 S5: specific situation. 253 00:15:01,900 --> 00:15:04,740 S1: So great to have my friend Aaron Griggs with us today. 254 00:15:04,740 --> 00:15:07,180 S1: What a privilege it's been these last couple of months 255 00:15:07,180 --> 00:15:09,180 S1: and now through the end of March here to be 256 00:15:09,220 --> 00:15:11,220 S1: able to shine a light on their great work at 257 00:15:11,220 --> 00:15:15,980 S1: Cross International helped lift hundreds of children out of poverty. 258 00:15:16,020 --> 00:15:19,380 S1: As we provide food and clean water and access to 259 00:15:19,420 --> 00:15:22,620 S1: not only education, but the gospel of Jesus Christ. And 260 00:15:22,660 --> 00:15:25,979 S1: you've been so gracious in your giving, and we're so thankful. 261 00:15:26,420 --> 00:15:29,580 S1: I'm excited to report to you the. The final count 262 00:15:29,620 --> 00:15:32,340 S1: of children will be able to come alongside through our 263 00:15:32,340 --> 00:15:35,900 S1: partners at Cross International. As we get beyond the end 264 00:15:35,900 --> 00:15:38,700 S1: of March. We'll be able to celebrate that next week. 265 00:15:38,700 --> 00:15:40,370 S1: But if you'd like to know more, just head to 266 00:15:40,410 --> 00:15:44,690 S1: faith fi.com slash. You know, as we think about our giving, 267 00:15:44,690 --> 00:15:47,810 S1: we should be intentional in our giving. We should be 268 00:15:47,810 --> 00:15:52,850 S1: systematic and giving proportionately giving off of our increase. And 269 00:15:52,850 --> 00:15:56,290 S1: we see that clearly in Scripture that's planned giving. But 270 00:15:56,290 --> 00:15:59,810 S1: there is that place for spontaneous giving as well as 271 00:15:59,810 --> 00:16:02,970 S1: God places a need or a person on our path, 272 00:16:02,970 --> 00:16:05,810 S1: we should live with margin in such a way that 273 00:16:05,810 --> 00:16:07,730 S1: we have the ability to respond to the leading of 274 00:16:07,730 --> 00:16:10,890 S1: the Holy Spirit in that work. And we should also 275 00:16:10,890 --> 00:16:13,650 S1: be intentional about the where of our giving. And I, 276 00:16:13,690 --> 00:16:17,130 S1: I think lining that up with what we see on 277 00:16:17,130 --> 00:16:20,530 S1: the heart of God in Scripture, we see a framework there. 278 00:16:20,570 --> 00:16:22,810 S1: You know, we can feel overwhelmed or we might just 279 00:16:22,810 --> 00:16:24,490 S1: throw our hands up and say, we don't know where 280 00:16:24,530 --> 00:16:28,810 S1: to give. But Scripture gives us this framework for prioritizing 281 00:16:29,130 --> 00:16:32,450 S1: our generosity. And it starts with the local church, because 282 00:16:32,450 --> 00:16:36,690 S1: that's God's design for reaching communities and equipping believers and 283 00:16:36,690 --> 00:16:40,810 S1: advancing the gospel. Galatians six six let the one who 284 00:16:40,810 --> 00:16:43,290 S1: has taught the word share all good things with the 285 00:16:43,290 --> 00:16:46,090 S1: one who teaches. So when we faithfully give to our 286 00:16:46,090 --> 00:16:50,570 S1: local church, we're fueling the ministry that shapes and shepherds us. 287 00:16:50,730 --> 00:16:54,410 S1: But from there, we can begin to look outward, joining 288 00:16:54,410 --> 00:16:57,730 S1: God's work in, I would say, three key areas that 289 00:16:57,730 --> 00:17:00,610 S1: reflect God's heart. The first would be what we were 290 00:17:00,610 --> 00:17:04,369 S1: talking about today serving the poor. Proverbs 19 seven whoever 291 00:17:04,369 --> 00:17:07,330 S1: is generous to the poor lends to the Lord, and 292 00:17:07,330 --> 00:17:09,970 S1: he will repay him for his deed. You see, God's 293 00:17:09,970 --> 00:17:13,570 S1: heart has always been tender toward the poor, the marginalized, 294 00:17:13,570 --> 00:17:17,290 S1: and the overlooked. So when we give to meet physical needs, 295 00:17:17,290 --> 00:17:20,810 S1: whether through a local food pantry or global relief effort 296 00:17:20,810 --> 00:17:24,250 S1: or simply helping a neighbor, we reflect his character. It's 297 00:17:24,290 --> 00:17:27,609 S1: an act of worship when we give to the poor. Second, 298 00:17:27,609 --> 00:17:31,290 S1: in this framework, sharing the good news, Romans 1015. How 299 00:17:31,290 --> 00:17:33,730 S1: beautiful are the feet of those who bring good news. 300 00:17:33,730 --> 00:17:36,970 S1: The gospel is the greatest gift we can give when 301 00:17:36,970 --> 00:17:40,170 S1: we direct our resources towards sharing the good news of Jesus. 302 00:17:40,170 --> 00:17:45,130 S1: By supporting missionaries and evangelistic ministries and outreach efforts like 303 00:17:45,130 --> 00:17:49,050 S1: the Moody Bible Institute and Moody Radio. We're investing in eternity. 304 00:17:49,090 --> 00:17:53,770 S1: Every dollar helps someone hear and respond to the gospel, 305 00:17:53,770 --> 00:17:59,330 S1: and that echoes into eternity. And thirdly, strengthening believers. Colossians 306 00:17:59,330 --> 00:18:02,850 S1: 316 let the Word of Christ dwell in you richly, 307 00:18:02,850 --> 00:18:06,930 S1: teaching and admonishing one another in all wisdom. God calls 308 00:18:06,930 --> 00:18:10,369 S1: us to help believers grow. So when we support discipleship 309 00:18:10,369 --> 00:18:14,730 S1: ministries and biblical training and counseling and Christian education, we're 310 00:18:14,730 --> 00:18:18,610 S1: helping others build a firm foundation of faith. So perhaps 311 00:18:18,609 --> 00:18:21,410 S1: think about your giving beyond your local church in this 312 00:18:21,410 --> 00:18:25,330 S1: framework of serving the poor, sharing the good news, and 313 00:18:25,330 --> 00:18:28,730 S1: strengthening believers. There's many ways to think about our giving. 314 00:18:28,770 --> 00:18:31,770 S1: That's certainly one of them. All right. We've got calls 315 00:18:31,770 --> 00:18:34,170 S1: building here, so I need to dive in and looking 316 00:18:34,170 --> 00:18:35,889 S1: forward to hearing from you today. We do have a 317 00:18:35,890 --> 00:18:38,889 S1: few lines open, so if you have a financial question today, 318 00:18:38,890 --> 00:18:44,050 S1: call right now 800 525 7000. We're going to begin 319 00:18:44,050 --> 00:18:45,570 S1: in Pennsylvania. Ellen. Go ahead. 320 00:18:46,770 --> 00:18:51,010 S6: Hello. Good afternoon Rob. I'm so thankful to be able 321 00:18:51,050 --> 00:18:54,290 S6: to speak with you in person today. I've been a 322 00:18:54,290 --> 00:18:56,930 S6: loyal listener since your program started. 323 00:18:57,130 --> 00:18:57,689 S7: Oh, wow. 324 00:18:57,730 --> 00:19:00,609 S6: Before that from Larry Burkett days. 325 00:19:01,970 --> 00:19:02,690 S7: That's incredible. 326 00:19:02,730 --> 00:19:04,450 S1: Ellen, thank you for mentioning that. 327 00:19:04,890 --> 00:19:09,850 S6: Yes. I've been a a student of your education in 328 00:19:09,850 --> 00:19:15,490 S6: the finance area as that's not my forte. Um, today 329 00:19:15,530 --> 00:19:19,609 S6: my question is this. Um, I was first married in 330 00:19:19,609 --> 00:19:23,730 S6: the 1980s and I was a professional student, uh, in 331 00:19:23,810 --> 00:19:27,250 S6: my eighth year of college and my husband was, uh, 332 00:19:27,530 --> 00:19:31,850 S6: in second year of college and a, a skilled, a 333 00:19:31,890 --> 00:19:38,570 S6: community college, skilled trades. And, uh, unfortunately, that 13 year 334 00:19:38,570 --> 00:19:44,810 S6: marriage and four children ended in divorce. As part of 335 00:19:44,850 --> 00:19:51,570 S6: that settlement, I was awarded the tax deferred savings plan 336 00:19:52,130 --> 00:19:59,290 S6: that my husband had earned through his employer, and it 337 00:19:59,290 --> 00:20:03,490 S6: took three years for the divorce to become final. When 338 00:20:03,490 --> 00:20:06,250 S6: the money was when it was ready to transfer those 339 00:20:06,250 --> 00:20:14,290 S6: funds from his employer to a different bank. Now the 340 00:20:14,290 --> 00:20:21,210 S6: amount went from ward was 14,000, was now 17,000. I 341 00:20:21,250 --> 00:20:25,970 S6: deposited those funds in a second bank. I called the 342 00:20:25,970 --> 00:20:29,810 S6: second bank in 2020 when my current husband and I 343 00:20:29,850 --> 00:20:33,170 S6: were in dire straits and we needed to pull in 344 00:20:33,170 --> 00:20:39,770 S6: our resources and they said they lost the money. All 345 00:20:39,810 --> 00:20:41,690 S6: the money is gone. I said, what do you mean 346 00:20:41,690 --> 00:20:46,370 S6: it's gone? Well, we can't find it in our computer system. 347 00:20:46,369 --> 00:20:51,250 S6: It must be in boxes in the basement. I said, well, sir, 348 00:20:52,090 --> 00:20:54,129 S6: with all due respect, you'll need to look through the 349 00:20:54,130 --> 00:20:59,169 S6: boxes and get back to me. They still cannot find 350 00:20:59,210 --> 00:21:04,610 S6: the money. It's gone as far as they're concerned. I 351 00:21:04,650 --> 00:21:08,810 S6: don't know what steps to take to recover that. As 352 00:21:08,810 --> 00:21:14,010 S6: I alluded to right now in 2020, um, my husband 353 00:21:14,010 --> 00:21:18,370 S6: and I both are self-employed. He's an auto mechanic and 354 00:21:18,369 --> 00:21:22,090 S6: I'm a veterinarian and our work is our ministry. 355 00:21:22,690 --> 00:21:24,129 S7: Yeah. And, uh. 356 00:21:25,170 --> 00:21:29,690 S6: In 2020, when the pandemic hit, we were those few 357 00:21:29,690 --> 00:21:33,690 S6: providers that kept our doors open and we took anybody 358 00:21:33,690 --> 00:21:37,370 S6: and everybody. And a lot of people didn't pay. And 359 00:21:37,609 --> 00:21:43,250 S6: somehow a gambling site commandeered my website. So I lost 360 00:21:43,250 --> 00:21:48,050 S6: months and months of valuable website information is now a 361 00:21:48,050 --> 00:21:49,050 S6: gambling site. 362 00:21:49,490 --> 00:21:49,890 S7: Wow. 363 00:21:50,810 --> 00:21:53,850 S1: Man, there's a lot there. And I'm so sorry about 364 00:21:53,850 --> 00:21:56,050 S1: the struggles you've had. I've got to take a break, 365 00:21:56,050 --> 00:21:57,409 S1: but I'm going to give you my thoughts on the 366 00:21:57,410 --> 00:22:08,730 S1: other side. Stay right there. We'll be right back. Thanks 367 00:22:08,730 --> 00:22:11,010 S1: for joining us today on Faith and finance live here 368 00:22:11,010 --> 00:22:13,410 S1: on Moody Radio. I'm Rob West. We're taking your calls 369 00:22:13,410 --> 00:22:15,370 S1: and questions. We do have some lines open. If you've 370 00:22:15,369 --> 00:22:20,369 S1: got a question call right now 800 525 7000. Before 371 00:22:20,369 --> 00:22:23,730 S1: the break, we were talking to Ellen in Pennsylvania. Ellen 372 00:22:23,730 --> 00:22:26,369 S1: went through a divorce. She was awarded funds from a 373 00:22:26,369 --> 00:22:30,320 S1: retirement account years ago. They were transferred to a bank. 374 00:22:30,600 --> 00:22:34,800 S1: She believes they were transferred to another bank. Following that, 375 00:22:34,800 --> 00:22:37,040 S1: and when she later tried to access them, the bank 376 00:22:37,080 --> 00:22:40,760 S1: could not locate the money. A lot of time has passed. 377 00:22:40,760 --> 00:22:44,560 S1: She was told that they can't trace it. And perhaps 378 00:22:44,560 --> 00:22:48,400 S1: it's in storage somewhere in a box. And, you know, 379 00:22:48,440 --> 00:22:50,560 S1: I think there's a couple of things here. I mean, 380 00:22:50,600 --> 00:22:55,120 S1: that may mean, Ellen, that they are part of archived 381 00:22:55,119 --> 00:22:59,880 S1: records at this point offline and just not searchable in 382 00:22:59,920 --> 00:23:03,760 S1: their normal system, but they can find it, uh, with 383 00:23:03,760 --> 00:23:07,760 S1: a formal search request because, uh, you know, the paper 384 00:23:07,760 --> 00:23:11,360 S1: trail is key. Money just doesn't and accounts just don't disappear. 385 00:23:11,720 --> 00:23:14,040 S1: So I would do a couple of things. Number one 386 00:23:14,040 --> 00:23:17,119 S1: is I would try, if you can chase this down 387 00:23:17,119 --> 00:23:19,440 S1: through any kind of records you may still have, I'd 388 00:23:19,480 --> 00:23:23,320 S1: try to go back to the original retirement plan. This 389 00:23:23,320 --> 00:23:29,040 S1: really is your anchor and ask for what's called a qdro. uh, 390 00:23:29,040 --> 00:23:32,760 S1: which is the the record because this was a part 391 00:23:32,760 --> 00:23:38,280 S1: of a divorce settlement. The Qdro is the distribution record 392 00:23:38,520 --> 00:23:42,199 S1: that basically gives the date of the transfer, the dollar amount, 393 00:23:42,200 --> 00:23:46,159 S1: the receiving institution and the account number and the wiring or, 394 00:23:46,160 --> 00:23:49,960 S1: or check details. It, it proves exactly where the money went. 395 00:23:50,119 --> 00:23:52,440 S1: And then I would go back to the bank and 396 00:23:52,440 --> 00:23:56,920 S1: really ask for and really demand a formal archival search 397 00:23:57,240 --> 00:24:00,160 S1: from the bank. So you would say, you know, I 398 00:24:00,160 --> 00:24:05,159 S1: need a formal archival record search for an incoming retirement 399 00:24:05,160 --> 00:24:10,359 S1: distribution under my name and social security number, including legacy 400 00:24:10,359 --> 00:24:15,600 S1: systems and, you know, offline systems, in other words, boxed records. 401 00:24:15,920 --> 00:24:18,520 S1: And you would want them to find the incoming wire 402 00:24:18,520 --> 00:24:21,719 S1: or check log. You know, the details on the account 403 00:24:21,720 --> 00:24:24,880 S1: that was opened and then any accounts tied to your 404 00:24:24,880 --> 00:24:28,639 S1: Social Security number, including closed accounts, but I would use 405 00:24:28,640 --> 00:24:34,280 S1: that word archival search. That's going to trigger a different process. 406 00:24:34,840 --> 00:24:37,720 S1: And then what you'll find is, you know, it's very 407 00:24:37,720 --> 00:24:41,399 S1: common that the retirement account goes to Bank A, and 408 00:24:41,400 --> 00:24:44,920 S1: then Bank A eventually gets rolled to Bank B or 409 00:24:44,920 --> 00:24:47,680 S1: another custodian. So you're going to want to know, was 410 00:24:47,680 --> 00:24:51,639 S1: this account ever transferred or rolled out to another institution. 411 00:24:51,640 --> 00:24:54,240 S1: Because remember, if you go back to the original retirement 412 00:24:54,240 --> 00:24:57,040 S1: plan to find out where it went initially, then they 413 00:24:57,040 --> 00:24:59,000 S1: would have to furnish the information on where it went 414 00:24:59,000 --> 00:25:02,040 S1: after that. And then the final thing that you could 415 00:25:02,040 --> 00:25:08,320 S1: do would be to search the unclaimed property records. And 416 00:25:08,320 --> 00:25:10,960 S1: I would do that at a website that I'll give you, 417 00:25:10,960 --> 00:25:16,160 S1: and it's called unclaimed dot or just the word unclaimed 418 00:25:16,400 --> 00:25:19,960 S1: dot o r g. That is the National Association of 419 00:25:19,960 --> 00:25:24,000 S1: Unclaimed Property Administrators. And you can very simply do a 420 00:25:24,000 --> 00:25:28,800 S1: search there. Um, it's the national network of state treasurers 421 00:25:29,080 --> 00:25:33,600 S1: and see if you can find anything there@unclaimed.org. But I 422 00:25:33,600 --> 00:25:35,800 S1: think if you take these steps, this should get you 423 00:25:35,800 --> 00:25:37,119 S1: pointed in the right direction. 424 00:25:37,200 --> 00:25:37,560 S7: Okay. 425 00:25:37,920 --> 00:25:41,400 S6: That's huge. I'm so grateful, Rob. 426 00:25:42,000 --> 00:25:43,879 S1: Well, I'm so thrilled to do it. I know this 427 00:25:43,920 --> 00:25:46,560 S1: weighs heavily on you. Well thank you. It's a it's 428 00:25:46,560 --> 00:25:48,240 S1: a privilege to do each day. And if I can 429 00:25:48,240 --> 00:25:52,040 S1: serve you further, give us a call back. God bless you. 805. 430 00:25:52,080 --> 00:25:54,920 S1: Two five 7000. We've got a few lines open today. 431 00:25:55,119 --> 00:25:58,000 S1: Let's go down to Georgia and talk to Cali. Go ahead. 432 00:25:59,480 --> 00:26:03,920 S8: Hi, Rob. Um, I was listening to your program when 433 00:26:03,920 --> 00:26:08,119 S8: one of your sessions was pre recorded because you were 434 00:26:08,119 --> 00:26:11,760 S8: out of the office and you were speaking. You were 435 00:26:11,760 --> 00:26:17,800 S8: speaking to a woman who described a severe financial distress 436 00:26:17,800 --> 00:26:22,000 S8: type situation. She was in a townhome, which she indicated 437 00:26:22,000 --> 00:26:26,080 S8: to you that she owned. She's 72 years old. She 438 00:26:26,080 --> 00:26:29,399 S8: had a slight physical disability. She walked with a cane. 439 00:26:29,840 --> 00:26:32,520 S8: She had been trying to find work because she felt 440 00:26:32,520 --> 00:26:34,640 S8: like she was still able to work, but she had 441 00:26:34,640 --> 00:26:38,760 S8: not been hired. And she was basically, she described a 442 00:26:38,760 --> 00:26:44,120 S8: situation where she was on Social Security, but once she 443 00:26:44,119 --> 00:26:48,080 S8: paid all of her bills, she only had like $60 444 00:26:48,119 --> 00:26:50,840 S8: a month to live on, which was not enough to 445 00:26:51,520 --> 00:26:55,640 S8: to live. And she was subsisting on food that was 446 00:26:55,640 --> 00:27:00,240 S8: donated by a church. And I wanted to know, um, 447 00:27:00,359 --> 00:27:03,320 S8: as I listened to your program, you did not offer 448 00:27:03,320 --> 00:27:08,000 S8: her the suggestion of doing a reverse mortgage. So our 449 00:27:08,000 --> 00:27:12,840 S8: reverse mortgage is not available on townhomes or condominiums. 450 00:27:14,000 --> 00:27:17,000 S1: Yeah, it's a great question. Um, and I don't recall 451 00:27:17,000 --> 00:27:23,280 S1: the specific caller or my response naturally, but to your point, Yes, 452 00:27:23,280 --> 00:27:26,240 S1: sometimes they are. So you can get a reverse mortgage 453 00:27:26,240 --> 00:27:28,600 S1: on a townhouse or a condo. There are a few 454 00:27:28,600 --> 00:27:32,760 S1: extra hoops. Uh, townhomes are usually eligible because they're treated 455 00:27:32,760 --> 00:27:37,159 S1: like a single family home if you own the structure. Uh, 456 00:27:37,200 --> 00:27:40,760 S1: and with a condo, it's eligible only if the condo 457 00:27:41,040 --> 00:27:44,679 S1: is approved. And you know, that has to be a, 458 00:27:44,880 --> 00:27:48,399 S1: the project has to be approved by the FHA. Uh, 459 00:27:48,440 --> 00:27:51,560 S1: if you're using a standard home equity conversion mortgage, a 460 00:27:51,560 --> 00:27:55,359 S1: standard reverse mortgage. So the HOA has to meet financial 461 00:27:55,359 --> 00:27:59,880 S1: standards and have adequate insurance in place and certain other guidelines. 462 00:27:59,880 --> 00:28:03,360 S1: But if it's approved, then yes. Uh, you know, you 463 00:28:03,760 --> 00:28:07,280 S1: can get a typical reverse mortgage there. So I don't 464 00:28:07,280 --> 00:28:10,479 S1: remember the specific situation and why I didn't mention that. 465 00:28:10,480 --> 00:28:12,919 S1: And maybe it just didn't come to mind as I 466 00:28:12,920 --> 00:28:16,639 S1: was talking about her situation. But as long as you're 62, 467 00:28:17,200 --> 00:28:22,310 S1: you have at least typically 50% equity in the home. Um, then, 468 00:28:22,350 --> 00:28:24,470 S1: you know, end in a condo. If it's, if the 469 00:28:24,470 --> 00:28:28,510 S1: HOA is, is qualified, then yes, a reverse mortgage would 470 00:28:28,510 --> 00:28:31,750 S1: be a possibility. And in a situation where that's your 471 00:28:31,750 --> 00:28:35,990 S1: primary asset and you know, there's not funds available just 472 00:28:35,990 --> 00:28:40,150 S1: to meet basic needs, that could absolutely be a solution 473 00:28:40,590 --> 00:28:42,510 S1: so long as she's able to live in the property 474 00:28:42,510 --> 00:28:44,710 S1: and cover the property taxes and insurance. 475 00:28:46,190 --> 00:28:51,230 S8: Okay, so, uh, living in either a condominium unit, which 476 00:28:51,230 --> 00:28:56,350 S8: is part of a large building structure or a townhome unit, 477 00:28:56,350 --> 00:28:59,990 S8: which would also be part of a larger building structure 478 00:28:59,990 --> 00:29:02,950 S8: that doesn't make any difference to the, to you don't 479 00:29:02,950 --> 00:29:05,310 S8: have to worry about the structure itself. 480 00:29:06,270 --> 00:29:09,550 S1: Uh, know, how you, whether you're in a townhome or 481 00:29:09,590 --> 00:29:13,270 S1: a condo is not the issue. Townhomes are usually fine 482 00:29:13,270 --> 00:29:17,990 S1: in just about every situation. Um, because again, uh, you know, 483 00:29:18,030 --> 00:29:20,670 S1: it's treated like a single family home. You own that 484 00:29:20,910 --> 00:29:24,150 S1: that particular dwelling, even though it's a part of a 485 00:29:24,270 --> 00:29:28,670 S1: larger building and with a condo. That one's a little 486 00:29:28,670 --> 00:29:32,070 S1: more tricky, but it really comes down to whether the HOA, 487 00:29:32,110 --> 00:29:36,950 S1: the condo itself is FHA approved, and you would just 488 00:29:36,950 --> 00:29:40,870 S1: want to verify the condo approval status first before proceeding. 489 00:29:44,790 --> 00:29:47,110 S1: I think we lost you, Cali, but I appreciate your 490 00:29:47,110 --> 00:29:49,550 S1: call today and it's a great question that you asked 491 00:29:49,550 --> 00:29:52,510 S1: and hopefully that helps. And if I can help further, 492 00:29:52,550 --> 00:29:54,750 S1: give me a call back. Let's go out to Kansas. James. 493 00:29:54,750 --> 00:29:55,270 S1: Go ahead. 494 00:29:57,030 --> 00:30:01,630 S9: Hi, Rob. Thanks for answering the call. Here's my situation. 495 00:30:01,630 --> 00:30:05,350 S9: I'm turning 65 in June. I received a letter from 496 00:30:05,350 --> 00:30:10,790 S9: the SSA in mid-December. The letter was dated December 1st 497 00:30:10,830 --> 00:30:16,230 S9: of 25. And they're saying that if I respond to 498 00:30:16,270 --> 00:30:21,870 S9: that letter, which I have in March. Uh, that my 499 00:30:21,870 --> 00:30:27,270 S9: claim will will start at 64.5. My question to you is, 500 00:30:27,750 --> 00:30:32,390 S9: since I didn't initiate that whole letter and everything, uh, 501 00:30:32,550 --> 00:30:36,590 S9: why do I have to claim benefits at 64.5 instead 502 00:30:36,590 --> 00:30:37,630 S9: of age 65? 503 00:30:37,990 --> 00:30:40,870 S1: Yeah. You don't. So that's, uh, let's talk about that. 504 00:30:40,910 --> 00:30:43,670 S1: I'm up against a break here, James, but, uh, if 505 00:30:43,710 --> 00:30:45,229 S1: you hang, hang on the line as soon as we 506 00:30:45,230 --> 00:30:48,030 S1: get back, we'll, we'll talk more about this in terms 507 00:30:48,030 --> 00:30:51,710 S1: of when we should think about claiming your Social Security benefits. 508 00:30:51,710 --> 00:30:54,390 S1: It's a great question. Uh, Ken, coming your way there 509 00:30:54,390 --> 00:30:56,630 S1: in Chattanooga. We'll try to get down to, uh, Jenny 510 00:30:56,630 --> 00:30:59,310 S1: in Ohio as well. This is faith and finance live. 511 00:30:59,310 --> 00:31:09,190 S1: Stick with us. Thanks for joining us today on Faith 512 00:31:09,190 --> 00:31:11,230 S1: and Finance live here in our final segment, we'll get 513 00:31:11,230 --> 00:31:13,030 S1: to as many calls as we can. We may have 514 00:31:13,030 --> 00:31:15,630 S1: room for one additional call. If you've got a question, 515 00:31:15,630 --> 00:31:20,310 S1: go ahead and call right now. 800 525 7000. Uh, 516 00:31:20,310 --> 00:31:22,670 S1: before the break, we were talking to James in Kansas. 517 00:31:22,670 --> 00:31:25,710 S1: He is, uh, almost 65. He got a letter from 518 00:31:25,710 --> 00:31:30,230 S1: Social Security, he believed, indicating he needed to start claiming benefits. 519 00:31:30,230 --> 00:31:33,990 S1: He's wondering why, since he wasn't full retirement age, should 520 00:31:33,990 --> 00:31:37,870 S1: he wait to full retirement age to start claiming benefits 521 00:31:37,870 --> 00:31:40,910 S1: or start now? Like he feels like the letter was 522 00:31:40,910 --> 00:31:43,270 S1: indicating is wondering if there's any kind of statute he 523 00:31:43,270 --> 00:31:47,030 S1: needs to know about. Um, the Social Security Administration, James, 524 00:31:47,030 --> 00:31:50,990 S1: does not require you to start benefits at 65. So 525 00:31:51,190 --> 00:31:55,790 S1: there is no statute requiring that the letter was likely. 526 00:31:55,830 --> 00:31:57,950 S1: And I don't want to tell you what it said 527 00:31:57,950 --> 00:32:00,830 S1: because you read it. But what I would expect it was, 528 00:32:00,830 --> 00:32:06,470 S1: was a notification or an estimate, not a mandate around 65. 529 00:32:06,510 --> 00:32:12,270 S1: The Social Security often sends benefits, estimates, reminders about eligibility, 530 00:32:12,270 --> 00:32:18,390 S1: and more specifically, notices tied to Medicare enrollment timing. And 531 00:32:18,390 --> 00:32:21,590 S1: this is really key because you know what you need 532 00:32:21,590 --> 00:32:24,270 S1: to do when you get to 65. So you're not 533 00:32:24,270 --> 00:32:29,070 S1: penalized is enroll in Medicare unless you're covered by an 534 00:32:29,070 --> 00:32:33,830 S1: employer's plan. And there's more than 20 employees. Um, but 535 00:32:33,830 --> 00:32:37,230 S1: apart from that, there is no reason in my mind 536 00:32:37,230 --> 00:32:40,350 S1: unless you need the money or there's some other issue, 537 00:32:40,350 --> 00:32:43,750 S1: there's some sort of health condition. Um, there's no reason 538 00:32:43,750 --> 00:32:47,230 S1: to claim now, especially if you don't need the money. 539 00:32:47,550 --> 00:32:49,910 S1: I would wait until at least full retirement age to 540 00:32:49,950 --> 00:32:53,830 S1: get the full benefit amount. So there is no reduction 541 00:32:53,830 --> 00:32:57,350 S1: in your benefit that has been estimated for you based 542 00:32:57,350 --> 00:32:59,870 S1: on what's called your high 35, your high as 35 543 00:32:59,910 --> 00:33:02,270 S1: years of, of wages. But give me your thoughts on 544 00:33:02,270 --> 00:33:02,870 S1: all that. 545 00:33:04,430 --> 00:33:07,950 S9: Yeah. I guess to clarify this letter that I, it 546 00:33:07,950 --> 00:33:11,830 S9: was dated December 1st of 25 and I received it 547 00:33:11,870 --> 00:33:15,510 S9: mid-December last year and it said that if I if 548 00:33:15,510 --> 00:33:20,310 S9: I responded to that letter anytime, anytime between December 1st, 549 00:33:20,350 --> 00:33:24,790 S9: 25 and six, one of 26, that they would count 550 00:33:24,790 --> 00:33:29,270 S9: it as having as my claim and my benefit starting 551 00:33:29,790 --> 00:33:34,550 S9: basically at 64.5 in December. And since I did not 552 00:33:34,550 --> 00:33:39,670 S9: initiate the process, my question when I talk with SSA 553 00:33:39,990 --> 00:33:42,910 S9: is why are they making me, you know, why are 554 00:33:42,910 --> 00:33:47,150 S9: they starting my benefits at 64.5 when I'm just, you know, 555 00:33:47,550 --> 00:33:51,229 S9: less than three months away from being 65? If I 556 00:33:51,230 --> 00:33:54,870 S9: go ahead and claim it, 65, why are they since 557 00:33:54,870 --> 00:33:58,230 S9: I didn't initiate the claim process, why are they starting 558 00:33:58,230 --> 00:34:00,390 S9: me back there on December 1st? 559 00:34:00,750 --> 00:34:04,790 S1: Yeah, yeah, I don't understand that. Or why they would 560 00:34:05,150 --> 00:34:08,710 S1: ask you to or insinuate you should begin claiming at 561 00:34:08,710 --> 00:34:12,390 S1: this point because this is early and therefore you'd that 562 00:34:12,390 --> 00:34:16,460 S1: would result in a permanent benefit reduction. So yeah, I'm 563 00:34:16,460 --> 00:34:19,140 S1: confused by that letter. I might schedule an in-person meeting 564 00:34:19,140 --> 00:34:21,140 S1: and visit with them or call them. But the bottom 565 00:34:21,140 --> 00:34:24,620 S1: line is, as long as you didn't start claiming benefits, 566 00:34:24,620 --> 00:34:27,620 S1: which you would have to initiate, that I would just 567 00:34:27,620 --> 00:34:30,020 S1: ignore it and wait until full retirement age. 568 00:34:31,180 --> 00:34:33,819 S9: Okay. Rob, thank you so much. God bless you for 569 00:34:33,820 --> 00:34:35,379 S9: all that you do for all of us that are 570 00:34:35,380 --> 00:34:39,660 S9: seeking your wisdom. And, and as the earlier caller, I've 571 00:34:39,660 --> 00:34:42,420 S9: been listening way back to when Larry Burkett was on 572 00:34:42,420 --> 00:34:45,980 S9: the radio. So thank you for keeping the the tradition going. 573 00:34:46,020 --> 00:34:46,419 S9: God bless. 574 00:34:46,420 --> 00:34:46,540 S7: You. 575 00:34:46,580 --> 00:34:49,379 S1: Well, I'm thrilled to do it. James, thanks for saying that. 576 00:34:49,380 --> 00:34:52,060 S1: That's an encouragement. May God bless you as well, sir. Uh, 577 00:34:52,060 --> 00:34:53,780 S1: to Chattanooga, Ken. Go ahead. 578 00:34:55,700 --> 00:34:57,300 S10: Hey, Rob. How you doing this afternoon? 579 00:34:57,540 --> 00:34:59,620 S1: I'm doing great. Yeah. Thanks for your call, sir. 580 00:35:00,100 --> 00:35:03,740 S10: Wonderful, wonderful. Hey, I really appreciate listening to you guys. 581 00:35:03,780 --> 00:35:06,339 S10: Your your. I tell people you're my 4:00 finance guys 582 00:35:06,340 --> 00:35:08,980 S10: on w m w here in Chattanooga. And so I 583 00:35:08,980 --> 00:35:13,020 S10: think I got like, uh, all these ideas or are thoughts. But, um, 584 00:35:13,180 --> 00:35:16,219 S10: my wife just resigned her position and her job she's 585 00:35:16,219 --> 00:35:19,339 S10: been at for 30 years and is starting a new role, uh, 586 00:35:19,340 --> 00:35:21,940 S10: with a new company and, uh, my, you know, listening 587 00:35:21,940 --> 00:35:24,140 S10: to you all this time, I'm thinking, man, we roll 588 00:35:24,140 --> 00:35:26,500 S10: that out. We put it into a, you know, a, 589 00:35:26,580 --> 00:35:29,419 S10: our own little IRA with Schwab. Um, and she throws 590 00:35:29,420 --> 00:35:31,380 S10: a question at me and says, if I put it 591 00:35:31,380 --> 00:35:35,020 S10: all in that, and then my new employer, uh, allows 592 00:35:35,020 --> 00:35:36,660 S10: me to put money in and they match it and 593 00:35:36,660 --> 00:35:40,180 S10: it grows there. Will it grow slower having two different accounts, 594 00:35:40,180 --> 00:35:41,980 S10: or should I put it all in that account and 595 00:35:41,980 --> 00:35:44,940 S10: let it all grow together? And, you know, instantly I'm 596 00:35:44,940 --> 00:35:49,420 S10: thinking mathematically, uh, whatever you're invested in should grow at 597 00:35:49,420 --> 00:35:51,980 S10: whatever rate it grows. But if you have a bunch 598 00:35:51,980 --> 00:35:54,100 S10: in one and a little in another, it'll both grow 599 00:35:54,100 --> 00:35:56,580 S10: at the same percentage, I guess. But what's your thoughts 600 00:35:56,580 --> 00:35:58,020 S10: on that? Do you think it should be all put 601 00:35:58,020 --> 00:35:59,140 S10: together in one place? 602 00:36:00,180 --> 00:36:00,620 S7: Yeah. 603 00:36:00,900 --> 00:36:04,380 S1: Uh, yeah. It does not need to be in one place. 604 00:36:04,380 --> 00:36:08,540 S1: To your original question, investments don't grow slower just because 605 00:36:08,739 --> 00:36:11,500 S1: they're in separate accounts. You know, growth is about the 606 00:36:11,500 --> 00:36:14,379 S1: rate of return, the amount invested and the time in 607 00:36:14,380 --> 00:36:19,660 S1: the market. Uh, you know, so 100,001 account earning 7% 608 00:36:19,820 --> 00:36:23,779 S1: or two accounts with 50,000 each earning 7%, you're going 609 00:36:23,820 --> 00:36:27,060 S1: to end up with the same total growth. So there's 610 00:36:27,060 --> 00:36:29,900 S1: not any benefit to you having them together. So why 611 00:36:29,900 --> 00:36:33,219 S1: do people roll from an old 401 K into a 612 00:36:33,219 --> 00:36:38,340 S1: new 401 K without going to an individual, uh, IRA, 613 00:36:38,380 --> 00:36:41,899 S1: a personal individual retirement account? And the reason would just 614 00:36:41,900 --> 00:36:45,739 S1: be often for simplicity, um, you know, just having one 615 00:36:45,739 --> 00:36:49,300 S1: account to keep up with making sure that you're not, um, 616 00:36:49,780 --> 00:36:54,259 S1: that you're diversification and your allocation is right because, you know, 617 00:36:54,300 --> 00:36:59,140 S1: often you can have an overlap or too highly concentrated and, 618 00:36:59,140 --> 00:37:04,419 S1: and one area versus another because, you know, you're just 619 00:37:04,420 --> 00:37:09,180 S1: not looking at the accounts together. You're treating them them separately. Um, 620 00:37:09,500 --> 00:37:11,339 S1: and so, you know what a lot of people will 621 00:37:11,340 --> 00:37:13,379 S1: do if your plan will allow it is go ahead 622 00:37:13,380 --> 00:37:15,540 S1: and roll it into that 401 K. It keeps it 623 00:37:15,540 --> 00:37:19,020 S1: simple because there's a limited menu of investment options to 624 00:37:19,060 --> 00:37:23,420 S1: pick from. Uh, versus the IRA, which gives you unlimited options, 625 00:37:23,420 --> 00:37:25,580 S1: which sounds good, but then you've got to figure out 626 00:37:25,580 --> 00:37:28,860 S1: which investments to choose. Unless you have an advisor to 627 00:37:28,900 --> 00:37:31,739 S1: do that or you're skilled in that area. So I 628 00:37:31,739 --> 00:37:35,339 S1: think just for simplicity's sake, keeping everything in one place 629 00:37:35,620 --> 00:37:39,340 S1: in her new, uh, 401 K, she continues to contribute 630 00:37:39,340 --> 00:37:41,339 S1: to it. And then when you guys are ready to 631 00:37:41,380 --> 00:37:44,420 S1: transition to what God has for you next in retirement, 632 00:37:44,660 --> 00:37:48,500 S1: that's probably the time to roll. Whatever retirement account you 633 00:37:48,500 --> 00:37:51,620 S1: have into an IRA and the same for her. And 634 00:37:51,620 --> 00:37:54,460 S1: then hire an advisor to manage all of it. But 635 00:37:54,460 --> 00:37:58,219 S1: in terms of the growth factor, there really is no difference. 636 00:37:59,980 --> 00:38:02,859 S10: Okay. Well, you've confirmed what I said. I mean, I 637 00:38:02,860 --> 00:38:07,380 S10: was kind of thinking mathematically, uh, 10% here, 10% there, 7% here, 7% there. 638 00:38:07,420 --> 00:38:10,459 S10: It's growing at the same percent, but I think she's 639 00:38:10,460 --> 00:38:12,339 S10: concerned about keeping it all in one place. So I 640 00:38:12,340 --> 00:38:13,379 S10: think that's what we'll do. 641 00:38:13,900 --> 00:38:17,420 S1: Yeah, that makes sense. Yeah. Just make sure that, you know, 642 00:38:17,460 --> 00:38:20,700 S1: you are looking periodically at what she's invested in or 643 00:38:20,739 --> 00:38:22,620 S1: or she is. I'm not saying she can't do it herself, 644 00:38:22,620 --> 00:38:25,620 S1: but that that you guys are looking at what she's 645 00:38:25,620 --> 00:38:28,820 S1: invested in to make sure that you're in the market. 646 00:38:28,820 --> 00:38:30,540 S1: You're not, you know, sitting in some sort of money 647 00:38:30,540 --> 00:38:33,700 S1: market and that you're in the right investments that are 648 00:38:33,700 --> 00:38:38,180 S1: appropriate for your age and risk tolerance together, your goals 649 00:38:38,180 --> 00:38:41,339 S1: and objectives and, and that, you know, that, that you're 650 00:38:41,340 --> 00:38:44,500 S1: not taking unnecessary risks, but you're also not being too 651 00:38:44,500 --> 00:38:47,259 S1: conservative either, just so this thing can continue to grow 652 00:38:47,260 --> 00:38:49,739 S1: between now and retirement. Hey, Ken, thanks for being a 653 00:38:49,739 --> 00:38:53,060 S1: regular listener, my friend. Uh, Lord bless you. Call anytime. Uh, 654 00:38:53,060 --> 00:38:54,980 S1: two Ohio. Jenny. Go ahead. 655 00:38:55,980 --> 00:38:58,980 S11: Hi, Rob. Thanks for taking my call. I, too, am 656 00:38:58,980 --> 00:39:03,660 S11: a longtime listener, going back to Larry Burkett, so that's great. Yeah. 657 00:39:03,700 --> 00:39:07,180 S11: My call. I'm calling. Um, well, my son doesn't know 658 00:39:07,180 --> 00:39:09,820 S11: I'm calling, but I'm calling in regards to my son. 659 00:39:09,820 --> 00:39:13,460 S11: He came over today and, um, let us know that 660 00:39:13,460 --> 00:39:16,379 S11: he's thinking he has to sell his home to get 661 00:39:16,380 --> 00:39:20,620 S11: out of, uh, quite a bit of credit card debt. Um, 662 00:39:20,660 --> 00:39:24,859 S11: he is a veteran. Uh, he is a firefighter. He 663 00:39:24,860 --> 00:39:28,299 S11: has two children under the age of five and he 664 00:39:28,300 --> 00:39:32,700 S11: is married. So, um, you know, he came, came to 665 00:39:32,700 --> 00:39:36,260 S11: us today and we're, we were kind of like, shocked, but, um, 666 00:39:36,900 --> 00:39:38,940 S11: I'm trying to advise him not to sell his home. 667 00:39:38,940 --> 00:39:41,700 S11: And there's got to be other ways that we can 668 00:39:41,700 --> 00:39:44,780 S11: work around this or help them work around, you know, 669 00:39:45,180 --> 00:39:48,859 S11: maybe lowering their payments on their credit cards. Um, the 670 00:39:48,860 --> 00:39:55,339 S11: debt is quite high. It's about $50,000. And I'm just like, 671 00:39:55,340 --> 00:39:57,620 S11: how did you get into this kind of debt? But 672 00:39:57,620 --> 00:40:00,220 S11: when he was going through the fire academy, he was 673 00:40:00,219 --> 00:40:04,100 S11: making minimal pay and his wife was working and they 674 00:40:04,100 --> 00:40:07,450 S11: bought a home three years ago when the market was 675 00:40:07,489 --> 00:40:11,250 S11: kind of crazy and their home was overpriced quite a bit. Yeah. 676 00:40:11,290 --> 00:40:15,250 S11: So I'm concerned if they sell their home to pay 677 00:40:15,250 --> 00:40:18,969 S11: off their debt, they may never get back into a 678 00:40:18,969 --> 00:40:24,770 S11: home right away. Um, and you know, renting isn't the 679 00:40:24,770 --> 00:40:28,089 S11: greatest option, but, um, I offered for them to come 680 00:40:28,090 --> 00:40:31,569 S11: to our home, but, um, I don't think that's the 681 00:40:31,570 --> 00:40:32,690 S11: greatest option either. 682 00:40:32,930 --> 00:40:33,729 S7: Um, yes. 683 00:40:33,770 --> 00:40:36,370 S11: Because I want them to save the home if they could. 684 00:40:36,410 --> 00:40:40,770 S11: So just need some advice on what, what can they 685 00:40:40,770 --> 00:40:44,530 S11: do without selling their home or where should they, you know, 686 00:40:44,570 --> 00:40:48,730 S11: start calling creditors to see if they can lower the payments? Um, 687 00:40:49,090 --> 00:40:50,210 S11: I don't know, they're kind of. 688 00:40:50,250 --> 00:40:52,649 S1: Yeah, that's the right question to ask. Jenny, I'm glad 689 00:40:52,650 --> 00:40:55,210 S1: you called. Uh, is this all credit card debt? Do 690 00:40:55,210 --> 00:40:57,250 S1: you know or is it various types of debt? 691 00:40:57,489 --> 00:41:01,169 S11: It is credit card debt. I mean, they, um, they're 692 00:41:01,170 --> 00:41:05,530 S11: down to one car. They lease a car, which, you know, 693 00:41:06,250 --> 00:41:09,450 S11: so they, they did, they gone down one car. He 694 00:41:09,450 --> 00:41:13,730 S11: got quite a large tax refund and I asked what 695 00:41:13,730 --> 00:41:15,250 S11: he did with it and he said, well I put 696 00:41:15,250 --> 00:41:18,530 S11: it on one of the bigger cards, which made only 697 00:41:18,530 --> 00:41:22,050 S11: a dent in overall what they owe. So. 698 00:41:22,330 --> 00:41:24,569 S7: Um, okay. Yeah, so here's where. 699 00:41:24,570 --> 00:41:26,810 S1: I would go from here. Let's not jump to selling 700 00:41:26,810 --> 00:41:29,930 S1: the house right away, because that in and of itself 701 00:41:29,930 --> 00:41:33,130 S1: is expensive in the sense that not only are there 702 00:41:33,370 --> 00:41:35,730 S1: a lot of transaction costs, but then they've got to 703 00:41:35,730 --> 00:41:39,890 S1: find other suitable housing for a small family with kids 704 00:41:40,050 --> 00:41:43,690 S1: and make sure it's safe and also affordable. And rents 705 00:41:43,690 --> 00:41:46,690 S1: are high right now. Um, you know, it's amazing to me. 706 00:41:46,690 --> 00:41:48,370 S1: I've got a son who's about to get married and 707 00:41:48,370 --> 00:41:51,450 S1: start his working career. And just the rents that they're 708 00:41:51,450 --> 00:41:54,250 S1: looking at are just way beyond what we would have 709 00:41:54,290 --> 00:41:57,969 S1: imagined when we were starting out. Um, and so it's just, 710 00:41:58,010 --> 00:42:00,690 S1: it's a challenging environment. So I wouldn't want him to 711 00:42:00,730 --> 00:42:04,209 S1: rush into that. I think understanding the debt is, is 712 00:42:04,210 --> 00:42:07,770 S1: really important. Looking at the monthly cash flow. I know 713 00:42:07,770 --> 00:42:11,129 S1: they've probably done all of this, but considering a debt 714 00:42:11,210 --> 00:42:14,810 S1: management plan through our friends at Christian Credit Counselors might 715 00:42:14,810 --> 00:42:16,690 S1: be a good starting point just to see if there's 716 00:42:16,690 --> 00:42:20,569 S1: any way to rightsize the budget such that they could 717 00:42:20,570 --> 00:42:25,290 S1: fit in a debt management plan payment. Because through debt 718 00:42:25,330 --> 00:42:28,810 S1: management at Christian credit counselors, the interest rates are going 719 00:42:28,810 --> 00:42:31,009 S1: to be dropped. And if he could have, they could 720 00:42:31,010 --> 00:42:33,649 S1: find a way to afford that payment. Then they could 721 00:42:33,650 --> 00:42:37,170 S1: actually make progress, which right now they're probably not. So 722 00:42:37,170 --> 00:42:38,930 S1: let's do this. I want to do two things. One 723 00:42:38,930 --> 00:42:41,010 S1: is I want to get you connected with a certified 724 00:42:41,010 --> 00:42:43,969 S1: Christian financial counselor for you to pass on to him. 725 00:42:43,969 --> 00:42:46,650 S1: If he's willing, we'll pay for it. No cost to 726 00:42:46,690 --> 00:42:49,450 S1: him to work with him on their budget, their spending plan, 727 00:42:49,450 --> 00:42:52,170 S1: their debt repayment plan. And then let's get Christian credit 728 00:42:52,170 --> 00:42:54,770 S1: counselors involved. Stay on the line. We'll talk a bit more. 729 00:42:54,930 --> 00:42:58,010 S1: Big thanks to my team today. Taylor, Tyra, Josh, Dan, 730 00:42:58,090 --> 00:43:00,090 S1: everybody here at Faith. FIE. We'll see you tomorrow.