1 00:00:04,440 --> 00:00:07,440 S1: The following program was pre-recorded so our phone lines are 2 00:00:07,440 --> 00:00:08,240 S1: not open. 3 00:00:08,560 --> 00:00:13,920 S2: What happens when we stop drifting financially and start stewarding intentionally? Hi, 4 00:00:13,920 --> 00:00:17,840 S2: I'm Rob West. When God's purposes shape our financial decisions, 5 00:00:17,840 --> 00:00:21,680 S2: money becomes a tool for clarity, freedom and faithful living. Today, 6 00:00:21,680 --> 00:00:25,600 S2: Brian Holts joins us to talk about why intentional, biblically 7 00:00:25,600 --> 00:00:29,560 S2: grounded stewardship matters and to share an opportunity for believers 8 00:00:29,560 --> 00:00:32,000 S2: to grow in that calling. Then we have some great 9 00:00:32,000 --> 00:00:34,960 S2: calls lined up. But we won't be taking your calls 10 00:00:34,960 --> 00:00:38,800 S2: today because we're prerecorded. This is faith and finance. Live. 11 00:00:38,840 --> 00:00:46,560 S2: Biblical wisdom for your financial journey. Well, our guest today 12 00:00:46,560 --> 00:00:50,159 S2: is Brian Holt, CEO of Compass Financial Ministry, a ministry 13 00:00:50,159 --> 00:00:53,840 S2: equipping people around the world to manage money God's way. Brian, 14 00:00:53,840 --> 00:00:54,920 S2: great to have you back. 15 00:00:55,200 --> 00:00:56,640 S3: It's always good to be here. Rob. 16 00:00:56,680 --> 00:01:00,390 S2: Brian, we're talking today about Compass Global conference coming up 17 00:01:00,390 --> 00:01:03,990 S2: in two weeks in Orlando. Money on purpose. Help us 18 00:01:03,990 --> 00:01:08,470 S2: understand the heart behind that theme. Why is intentional, biblically 19 00:01:08,470 --> 00:01:11,670 S2: grounded stewardship so important for God's people? 20 00:01:12,150 --> 00:01:15,429 S3: Yeah, Rob, it's really rooted in two very common sayings 21 00:01:15,430 --> 00:01:18,190 S3: that we hear. The first in the financial world is 22 00:01:18,190 --> 00:01:20,990 S3: that money is just a tool. And when we say that, 23 00:01:20,990 --> 00:01:23,310 S3: we usually mean this as a way to express that 24 00:01:23,310 --> 00:01:26,510 S3: money isn't morally good or bad. It's guided by our 25 00:01:26,510 --> 00:01:30,390 S3: personal motives for good or bad, but it's generally neutral. 26 00:01:30,670 --> 00:01:33,310 S3: But there's something deeper to understand in that expression that 27 00:01:33,310 --> 00:01:37,789 S3: we really wanted to address at this conference. Tools. Even 28 00:01:37,790 --> 00:01:41,350 S3: though they're neither good nor bad, they're created with a purpose. 29 00:01:41,590 --> 00:01:44,430 S3: And then that leads us to the second saying to 30 00:01:44,470 --> 00:01:47,550 S3: a man with a hammer, everything looks like a nail. 31 00:01:47,710 --> 00:01:50,910 S3: And if we don't understand God's purpose for money, we're 32 00:01:50,910 --> 00:01:55,070 S3: going to think that everything looks like a wise stewardship decision. 33 00:01:55,230 --> 00:01:57,670 S3: So this conference is really meant to take a step 34 00:01:57,670 --> 00:02:00,700 S3: back and to learn God's purpose so that we can 35 00:02:00,700 --> 00:02:04,060 S3: hear those great words. Well done, good and faithful servant. 36 00:02:04,180 --> 00:02:06,900 S2: Well, that is really exciting. And we're just two weeks out, 37 00:02:06,900 --> 00:02:10,300 S2: February 20th 6 to 28. Brian, give us the big picture. 38 00:02:10,300 --> 00:02:13,380 S2: What will people experience when they come to money on purpose? 39 00:02:13,540 --> 00:02:18,739 S3: Yeah. So it's three days of incredible worship, discipleship and fellowship. 40 00:02:18,860 --> 00:02:22,340 S3: We'll have keynotes from thought leaders. Each will examine a 41 00:02:22,340 --> 00:02:25,899 S3: specific purpose of money through a Bible story or a character, 42 00:02:26,020 --> 00:02:28,500 S3: both from the new and the Old Testament. And then 43 00:02:28,500 --> 00:02:31,419 S3: following those will have a series of workshops that cover 44 00:02:31,419 --> 00:02:34,820 S3: the application of those purposes that we can take home 45 00:02:34,820 --> 00:02:36,020 S3: and apply in our lives. 46 00:02:36,300 --> 00:02:39,220 S2: Very good. One thing I've always appreciated about compass is 47 00:02:39,220 --> 00:02:43,420 S2: how you make biblical stewardship accessible at every stage of life, 48 00:02:43,460 --> 00:02:46,899 S2: and this conference is really in that same spirit. It's 49 00:02:46,900 --> 00:02:47,899 S2: for everyone, right? 50 00:02:48,139 --> 00:02:51,019 S3: It really is. So if you're wanting to grow in 51 00:02:51,020 --> 00:02:53,540 S3: managing money God's way, if you're a church or a 52 00:02:53,540 --> 00:02:57,060 S3: ministry leader who's looking to integrate stewardship into the other 53 00:02:57,060 --> 00:03:00,540 S3: discipleship pathways. Maybe you're a parent or a young adult 54 00:03:00,540 --> 00:03:04,660 S3: who's looking for biblical guidance. Anyone who's looking to be 55 00:03:04,660 --> 00:03:07,780 S3: intentional around stewardship. This is going to be the place 56 00:03:07,780 --> 00:03:08,579 S3: they want to go. 57 00:03:08,980 --> 00:03:10,620 S2: I look through the schedule the other day, and I 58 00:03:10,620 --> 00:03:13,540 S2: was struck, Brian, by the range of workshops, everything from 59 00:03:13,540 --> 00:03:18,420 S2: biblically grounded investing to making sense of economic uncertainty. What 60 00:03:18,460 --> 00:03:21,540 S2: tends to surprise people most once they're in the room? 61 00:03:21,980 --> 00:03:25,820 S3: I think first, really, how God's Word does speak into 62 00:03:25,860 --> 00:03:28,780 S3: every situation in life. You know, going back to who 63 00:03:28,820 --> 00:03:31,980 S3: this is for and the breadth of workshop topics as 64 00:03:31,980 --> 00:03:34,980 S3: we brainstorm the different things we could cover. There really 65 00:03:34,980 --> 00:03:37,700 S3: wasn't anything we thought of that we didn't get clear 66 00:03:37,700 --> 00:03:41,540 S3: direction about in Scripture. When people come to a conference, 67 00:03:41,540 --> 00:03:45,180 S3: any conference, and they actually get their questions answered, it 68 00:03:45,180 --> 00:03:48,820 S3: always surprises them. Second, when you get in a room 69 00:03:48,820 --> 00:03:51,660 S3: full of like minded people, you get this shift from 70 00:03:51,660 --> 00:03:56,250 S3: just information to transformation. Yeah, the way people share their 71 00:03:56,250 --> 00:04:00,730 S3: own personal perspectives and experiences. It creates so much enthusiasm 72 00:04:00,730 --> 00:04:04,490 S3: and excitement. And when people leave knowing what to do, 73 00:04:04,530 --> 00:04:07,010 S3: they have ideas on how to do it, and they're 74 00:04:07,010 --> 00:04:10,250 S3: excited to see God work in and through them. They 75 00:04:10,250 --> 00:04:11,450 S3: just leave excited. 76 00:04:11,770 --> 00:04:14,690 S2: Yeah, no doubt about that. Brian, for somebody listening today, 77 00:04:14,690 --> 00:04:16,570 S2: that's saying, you know what, I think this sounds like 78 00:04:16,570 --> 00:04:18,810 S2: something I'd love to be a part of. What are 79 00:04:18,810 --> 00:04:20,130 S2: they going to walk away with? 80 00:04:20,490 --> 00:04:23,490 S3: It really goes back to companies mission statement. We want 81 00:04:23,529 --> 00:04:26,330 S3: to see people grow closer to Jesus, be free to 82 00:04:26,370 --> 00:04:29,690 S3: serve him and help fund the Great Commission. We want 83 00:04:29,690 --> 00:04:33,410 S3: people to better understand God's financial principles. We want them 84 00:04:33,410 --> 00:04:35,530 S3: to have a plan for how they'll live it out, 85 00:04:35,529 --> 00:04:37,850 S3: and we want them to build a community of people 86 00:04:37,850 --> 00:04:41,210 S3: who are like minded, who can support them. That's really 87 00:04:41,250 --> 00:04:44,410 S3: what God's true purpose for money is about. And that's 88 00:04:44,410 --> 00:04:45,770 S3: what we want people to leave with. 89 00:04:46,170 --> 00:04:49,370 S2: Yeah. That's wonderful. Well, when we handle money on purpose, 90 00:04:49,410 --> 00:04:53,410 S2: God's purpose, we discover freedom, direction, and more joy in 91 00:04:53,410 --> 00:04:57,000 S2: the way we steward his resources. Brian, thanks for stopping 92 00:04:57,000 --> 00:04:57,600 S2: by today. 93 00:04:57,760 --> 00:04:58,960 S3: It's been a pleasure. Rob. 94 00:04:59,000 --> 00:05:02,480 S2: That's Brian Holt, CEO of Compass Financial Ministry. All right, folks, 95 00:05:02,480 --> 00:05:06,360 S2: if you want to register for this conference money on purpose, 96 00:05:06,400 --> 00:05:10,320 S2: just head to Compass Financial Ministries. Org you'll find the 97 00:05:10,320 --> 00:05:13,839 S2: full details on sessions, workshops and the schedule. Again the 98 00:05:13,839 --> 00:05:19,840 S2: website compass financial ministry. I'm Rob Weston. This is faith 99 00:05:19,839 --> 00:05:24,359 S2: and finance. Live biblical wisdom for your financial journey, helping 100 00:05:24,360 --> 00:05:28,640 S2: you apply God's wisdom to the practical decisions you're making today. 101 00:05:28,680 --> 00:05:35,520 S2: We'll be right back. Hey, great to have you with 102 00:05:35,520 --> 00:05:38,400 S2: us today on Faith and Finance Live. I'm Rob West, 103 00:05:38,400 --> 00:05:41,040 S2: your host. Our team is away from the studio today, 104 00:05:41,040 --> 00:05:44,000 S2: so don't call in. But coming up a little later, 105 00:05:44,000 --> 00:05:47,920 S2: we'll have more of your questions right here on the program. Hey, 106 00:05:47,920 --> 00:05:51,719 S2: let me take a moment to mention the Faith fi app. 107 00:05:51,760 --> 00:05:53,790 S2: We'd love for you to download it. Just head to 108 00:05:53,830 --> 00:05:57,350 S2: your app store wherever you download apps and search for 109 00:05:57,390 --> 00:06:00,550 S2: Faith fi. That's Faith fi. You can manage your money. 110 00:06:00,550 --> 00:06:05,110 S2: You can access the best content in biblical finance podcasts, articles, 111 00:06:05,110 --> 00:06:09,349 S2: and videos. You can also participate in our Faith fi community, 112 00:06:09,350 --> 00:06:12,510 S2: where you can post questions and get answers from others 113 00:06:12,510 --> 00:06:15,750 S2: on their stewardship journey. You'll find it in your app store. 114 00:06:15,750 --> 00:06:18,070 S2: Just search for Faith fi or if it's easier, head 115 00:06:18,070 --> 00:06:24,190 S2: to our website at Faith. That's Faith fi and you'll 116 00:06:24,190 --> 00:06:26,990 S2: see the app right there on the home page. Uh, 117 00:06:26,990 --> 00:06:29,190 S2: before we head to the phones in the news starting 118 00:06:29,190 --> 00:06:32,630 S2: last year, individuals age 65 and older can benefit from 119 00:06:32,630 --> 00:06:37,110 S2: a new temporary federal tax deduction of up to $6,000 120 00:06:37,110 --> 00:06:41,590 S2: per person, or $12,000 for married couples filing jointly. The 121 00:06:41,589 --> 00:06:46,110 S2: deduction applies from 2025 through 2028, and can be taken 122 00:06:46,110 --> 00:06:50,670 S2: whether retirees itemize or use the standard deduction because it 123 00:06:50,670 --> 00:06:56,310 S2: began midway through 2025. Many retirees may not have fully 124 00:06:56,310 --> 00:06:59,270 S2: used it yet, but the next three years could offer 125 00:06:59,270 --> 00:07:03,710 S2: meaningful planning opportunities. Experts say the deduction could lower or 126 00:07:03,750 --> 00:07:08,909 S2: even eliminate taxes for many eligible seniors. A government estimates 127 00:07:08,910 --> 00:07:13,670 S2: suggest nearly 34 million older Americans may qualify, receiving an 128 00:07:13,670 --> 00:07:19,710 S2: average increase of about $670 in after tax income per year. Now, 129 00:07:19,710 --> 00:07:22,910 S2: to qualify for the full deduction, your income must fall 130 00:07:22,950 --> 00:07:29,550 S2: below $75,000 for single filers or 150,000 for married couples 131 00:07:29,550 --> 00:07:32,790 S2: with phaseouts above those levels. So if you're a senior, 132 00:07:32,790 --> 00:07:37,150 S2: you may want to manage income through retirement contributions or 133 00:07:37,190 --> 00:07:41,150 S2: charitable giving or strategic withdrawals to stay within the limits 134 00:07:41,430 --> 00:07:44,390 S2: and maximize that benefit. If this is something that's new 135 00:07:44,390 --> 00:07:46,870 S2: to you, check with your CPA and make sure you 136 00:07:46,870 --> 00:07:49,510 S2: take full advantage of what's coming to you. All right, 137 00:07:49,580 --> 00:07:51,660 S2: let's dive into your phone calls today. The lines are 138 00:07:51,660 --> 00:07:53,580 S2: filling up, but we still got a few at the moment. 139 00:07:53,580 --> 00:07:55,940 S2: So if you have a financial question today, a call 140 00:07:55,980 --> 00:08:02,820 S2: right now, 800 525 7000. Again, that's 800 525 7000. 141 00:08:02,860 --> 00:08:05,140 S2: We're going to begin in North Carolina today, rusty. Go 142 00:08:05,140 --> 00:08:05,700 S2: right ahead. 143 00:08:07,100 --> 00:08:11,700 S4: Yes. Thank you for taking my call. Uh, I'm asking for, uh, 144 00:08:11,700 --> 00:08:15,380 S4: maybe a website or information on how to evaluate whether 145 00:08:15,380 --> 00:08:19,820 S4: a particular Christian organization would be a good investment. I'm 146 00:08:19,820 --> 00:08:24,220 S4: particularly interested in right now. I get letters from, um, 147 00:08:24,620 --> 00:08:30,620 S4: Far East Broadcasting Company who, um, claims to be, uh, 148 00:08:30,860 --> 00:08:36,420 S4: wanting to set up radio waves going into North Korea. And, uh, 149 00:08:36,420 --> 00:08:39,300 S4: but I just don't know, uh, you know, is this 150 00:08:39,340 --> 00:08:43,700 S4: is this something that's that's, uh, promising? Uh, I don't 151 00:08:43,700 --> 00:08:46,420 S4: know anything about that organization. And I'd like to be 152 00:08:46,460 --> 00:08:50,850 S4: able to, uh, maybe even in other with other organizations. 153 00:08:51,210 --> 00:08:54,250 S4: A way to check out, give me information I would 154 00:08:54,250 --> 00:08:57,450 S4: need to know to be a good steward of resources. 155 00:08:57,730 --> 00:09:00,410 S2: Yeah, well, first of all, let me just say that 156 00:09:00,450 --> 00:09:03,930 S2: the ministry that you mentioned, the Far East Broadcasting Company, 157 00:09:03,929 --> 00:09:07,530 S2: is a legitimate Christian ministry, certainly not a scam of 158 00:09:07,530 --> 00:09:10,050 S2: any kind. It's been around for a long time, going 159 00:09:10,050 --> 00:09:13,610 S2: all the way back to the 40s, and it really 160 00:09:13,610 --> 00:09:18,209 S2: operates a global Christian radio and media ministry to share 161 00:09:18,210 --> 00:09:23,210 S2: the gospel in many what are considered closed countries, um, 162 00:09:23,250 --> 00:09:29,090 S2: in terms of their financial integrity and, um, visibility. Uh, 163 00:09:29,090 --> 00:09:31,210 S2: you know, there's two things I would look to. Number 164 00:09:31,210 --> 00:09:35,809 S2: one would be that they're a member of the Evangelical 165 00:09:35,970 --> 00:09:40,610 S2: Council for Financial Accountability, and they are. And then the 166 00:09:40,610 --> 00:09:43,569 S2: other thing you can look at is their rating from 167 00:09:43,850 --> 00:09:46,770 S2: a ministry called Charity navigator. You could just do an 168 00:09:46,880 --> 00:09:50,360 S2: internet search for Charity navigator and then find their website, 169 00:09:50,360 --> 00:09:53,240 S2: and then type a type in Far East Broadcasting Company 170 00:09:53,240 --> 00:09:56,320 S2: to read all the details. But they have the the 171 00:09:56,320 --> 00:10:00,760 S2: four star rating, which is an excellent rating, which just 172 00:10:00,760 --> 00:10:04,920 S2: simply means that in all the measurements that Charity navigator 173 00:10:04,920 --> 00:10:10,920 S2: tracks in terms of financial accountability and transparency, they're in 174 00:10:10,920 --> 00:10:15,160 S2: the highest category. And so that's a good sign. Um, and, 175 00:10:15,200 --> 00:10:17,880 S2: you know, they they do great work. Uh, they have 176 00:10:17,880 --> 00:10:22,640 S2: a massive operation specifically transmitting from South Korea into North 177 00:10:22,640 --> 00:10:25,720 S2: Korea and China. Now, the thing you might want to 178 00:10:25,720 --> 00:10:29,680 S2: be careful of is if if somebody's impersonating a known 179 00:10:29,679 --> 00:10:34,480 S2: charity to steal payment information. So I wouldn't respond to 180 00:10:34,520 --> 00:10:37,960 S2: an unsolicited cold call or a text or an email 181 00:10:38,240 --> 00:10:41,640 S2: asking for gifts. But as long as you learn about it, 182 00:10:41,640 --> 00:10:44,720 S2: you decide it's something you want to participate in, then 183 00:10:44,720 --> 00:10:48,030 S2: I would either contact them directly or navigate on your 184 00:10:48,030 --> 00:10:51,150 S2: own to their website to make the gift, as opposed 185 00:10:51,150 --> 00:10:54,829 S2: to responding to something that is inbound to you. That 186 00:10:54,830 --> 00:11:00,030 S2: was unsolicited. I like the idea of you really thinking about, uh, 187 00:11:00,070 --> 00:11:02,470 S2: being a good steward, not only in how you manage 188 00:11:02,470 --> 00:11:05,230 S2: God's money, but also how you give. You know, God 189 00:11:05,230 --> 00:11:07,150 S2: gave us a head and a heart. He didn't say 190 00:11:07,150 --> 00:11:10,070 S2: pick one. And so I think asking what kind of 191 00:11:10,110 --> 00:11:14,870 S2: kingdom outcomes do I want to see? Stewardship is about impact. 192 00:11:14,870 --> 00:11:18,270 S2: So what kind of impact is occurring there? I think 193 00:11:18,309 --> 00:11:22,230 S2: as we evaluate ministries to to really say, you know, 194 00:11:22,270 --> 00:11:25,189 S2: what are those ministries we should be giving to? What 195 00:11:25,190 --> 00:11:27,830 S2: should we be looking for? I don't think it's a 196 00:11:27,830 --> 00:11:31,030 S2: problem for you to engage with them and ask what 197 00:11:31,030 --> 00:11:34,390 S2: problem they're trying to solve. And, you know, what do 198 00:11:34,390 --> 00:11:36,590 S2: they think is the, you know, the really the the 199 00:11:36,630 --> 00:11:42,270 S2: best strategy? Um, look for fruit measurable outcomes that demonstrate 200 00:11:42,270 --> 00:11:45,710 S2: effectiveness and life change. I think you can review the 201 00:11:45,750 --> 00:11:49,550 S2: leadership stability. You can ask about, you know, donor retention. 202 00:11:49,870 --> 00:11:53,750 S2: I think transparency and accountability are key. And I like 203 00:11:53,750 --> 00:11:57,150 S2: what I'm seeing here from Charity navigator and that they 204 00:11:57,150 --> 00:11:59,710 S2: really line up there. So I would say a strong 205 00:11:59,710 --> 00:12:04,110 S2: ministry welcomes questions and really sees accountability as a part 206 00:12:04,110 --> 00:12:08,670 S2: of discipleship. Um, so I think, you know, leaning in, 207 00:12:08,710 --> 00:12:10,870 S2: if this is something that piques your interest to learn 208 00:12:10,870 --> 00:12:13,990 S2: more is a good thing, but is that helpful? Rusty. 209 00:12:15,070 --> 00:12:17,590 S4: Oh, yes. Thank you so much. What I received as 210 00:12:17,630 --> 00:12:21,630 S4: a couple of at least two letters from them, um, 211 00:12:21,830 --> 00:12:27,910 S4: explaining their ministry. And I think that would be reliable 212 00:12:28,030 --> 00:12:29,470 S4: for me to respond to. 213 00:12:29,670 --> 00:12:32,150 S2: Yeah, yeah, I think that's right. Especially if, you know, 214 00:12:32,230 --> 00:12:36,870 S2: your gift involves you navigating to their website directly. Uh, 215 00:12:36,870 --> 00:12:38,870 S2: and then, you know, making a gift that way or 216 00:12:38,870 --> 00:12:41,710 S2: reaching out to them. So I appreciate you checking. It's 217 00:12:41,710 --> 00:12:44,580 S2: a great reminder that we need to be thoughtful about 218 00:12:44,580 --> 00:12:47,459 S2: how and when we give. You know, we're really strategic 219 00:12:47,500 --> 00:12:51,700 S2: about our investments often, but we give more haphazardly, I think, 220 00:12:51,700 --> 00:12:53,940 S2: in many cases. And I think your question is a 221 00:12:53,940 --> 00:12:57,540 S2: great reminder about, uh, using the same level of intentionality 222 00:12:57,540 --> 00:13:01,339 S2: and scrutiny as we give God's money to ministries claiming 223 00:13:01,380 --> 00:13:03,380 S2: to do work in the name of Jesus. Rusty, thanks 224 00:13:03,380 --> 00:13:06,420 S2: for your call today, sir. Uh, let's go to, uh, Virginia. Hi, Greg. 225 00:13:06,420 --> 00:13:06,980 S2: Go ahead. 226 00:13:08,340 --> 00:13:09,179 S4: Yeah. Uh. 227 00:13:09,460 --> 00:13:13,939 S5: Hello. Um, so I'm 66, and in a few months, 228 00:13:13,940 --> 00:13:18,420 S5: I qualify for the full retirement benefits, and, uh, I 229 00:13:18,420 --> 00:13:23,740 S5: plan to continue working. Uh, and I have about $45,000 230 00:13:23,740 --> 00:13:27,660 S5: in savings. I just wanted some idea of where I 231 00:13:27,660 --> 00:13:32,460 S5: can go from here, uh, to improve my. Because I 232 00:13:32,460 --> 00:13:34,220 S5: don't know what to do with the 40. I'm a 233 00:13:34,220 --> 00:13:38,579 S5: little bit nervous investing in the stock market right now with, 234 00:13:38,900 --> 00:13:42,130 S5: you know, $38 trillion debt. So where can I go 235 00:13:42,130 --> 00:13:46,490 S5: from here to improve my situation? 236 00:13:46,650 --> 00:13:49,890 S2: Yes. Well, you know, you really want to think about, 237 00:13:49,890 --> 00:13:54,089 S2: first of all, that emergency fund staying liquid and safe. 238 00:13:54,410 --> 00:13:56,890 S2: And that's probably going to be a high yield savings 239 00:13:56,890 --> 00:13:59,890 S2: account or a money market fund. And I would keep 240 00:13:59,890 --> 00:14:04,410 S2: at least six months worth of expenses in that account. 241 00:14:04,770 --> 00:14:06,449 S2: And then with the rest of it, if you want 242 00:14:06,450 --> 00:14:09,050 S2: to stay out of the market, you could look at, 243 00:14:09,290 --> 00:14:13,530 S2: you know, CDs, you could look at treasuries. Uh, so bills, 244 00:14:13,530 --> 00:14:17,610 S2: bonds and notes from the US government, uh, of varying durations. 245 00:14:17,610 --> 00:14:20,970 S2: You could even use a bond fund as well, a 246 00:14:20,970 --> 00:14:23,450 S2: mutual fund that has a basket of either corporate or 247 00:14:23,450 --> 00:14:25,810 S2: government bonds. Uh, stay on the line. Let's talk a 248 00:14:25,810 --> 00:14:27,890 S2: bit more off the air about that. We'll be right back. 249 00:14:38,570 --> 00:14:41,840 S6: This is faith and in finance. Live with Rob West. Hey, 250 00:14:41,840 --> 00:14:44,680 S6: if you hear a phone number mentioned today, please ignore 251 00:14:44,720 --> 00:14:48,080 S6: that number and don't call us because today's broadcast was 252 00:14:48,080 --> 00:14:51,800 S6: previously recorded. But we think the upcoming information will help 253 00:14:51,800 --> 00:14:54,160 S6: you and make you a wise steward of what God's 254 00:14:54,160 --> 00:14:56,640 S6: given you. So please stay tuned. 255 00:14:58,400 --> 00:15:01,120 S2: Before the break, we were talking to Greg in Virginia. 256 00:15:01,200 --> 00:15:04,400 S2: He's 66 years old. He is still working and would 257 00:15:04,400 --> 00:15:08,880 S2: like to continue working. He's put aside $45,000 in savings. 258 00:15:08,880 --> 00:15:10,840 S2: He'd rather not put it in the stock market. A 259 00:15:10,840 --> 00:15:14,720 S2: little concerned about just the US national debt and a 260 00:15:14,720 --> 00:15:17,440 S2: few other things related to the economy. Also, just wanting 261 00:15:17,440 --> 00:15:20,760 S2: to stay conservative in this season of life and wondering 262 00:15:21,080 --> 00:15:23,800 S2: what to do with these funds. Because he has earned income, 263 00:15:23,800 --> 00:15:26,880 S2: he has the ability to use an IRA. And I 264 00:15:26,880 --> 00:15:29,680 S2: was saying before the break, Greg, that, you know, I 265 00:15:29,680 --> 00:15:32,400 S2: would have at least six months and you may decide 266 00:15:32,400 --> 00:15:35,720 S2: to do a full year in a high yield savings 267 00:15:35,720 --> 00:15:38,480 S2: account or a money market. So it's liquid, safe, but 268 00:15:38,600 --> 00:15:41,680 S2: still earning a decent rate of return. You could visit 269 00:15:41,680 --> 00:15:44,680 S2: with our friends at Christian Community Credit Union. They're offering 270 00:15:44,880 --> 00:15:47,560 S2: high yield savings at five, a money market at 4%, 271 00:15:47,600 --> 00:15:51,160 S2: up to $100,000. And there's a bonus for Faith fi listeners. 272 00:15:51,160 --> 00:15:55,560 S2: You could go to faith banking if you wanted to 273 00:15:55,600 --> 00:15:58,000 S2: learn more there, but something like that I think would 274 00:15:58,000 --> 00:16:00,200 S2: be great. And so if you all are spending about 275 00:16:00,200 --> 00:16:04,760 S2: 2500 a month, six months would be 15,000. If you 276 00:16:04,760 --> 00:16:06,720 S2: want to do a full year, that'd be 30. But 277 00:16:06,720 --> 00:16:09,360 S2: let's stay with six months for a second. That would 278 00:16:09,360 --> 00:16:13,360 S2: leave you 30,000. Outside of that, where your goal again 279 00:16:13,400 --> 00:16:19,720 S2: is capital preservation first, steady, predictable yields second and low 280 00:16:19,720 --> 00:16:24,400 S2: volatility with simple to manage. You know being key. Um, 281 00:16:24,600 --> 00:16:28,120 S2: if you're continuing to work with either wages or self-employment income, 282 00:16:28,160 --> 00:16:31,000 S2: earned income as far as the IRS is concerned, then 283 00:16:31,000 --> 00:16:33,840 S2: you certainly could drop that into an IRA, either a 284 00:16:33,840 --> 00:16:36,080 S2: traditional where you could, you know, save a little bit 285 00:16:36,080 --> 00:16:38,150 S2: if you are paying taxes. If you're not, you could 286 00:16:38,150 --> 00:16:41,110 S2: put it into a Roth, which would allow it to 287 00:16:41,150 --> 00:16:43,030 S2: grow tax free, and then you could just pull it 288 00:16:43,030 --> 00:16:45,070 S2: out as you need it. It would need to be 289 00:16:45,070 --> 00:16:47,590 S2: in there five years before you could take it out. 290 00:16:47,630 --> 00:16:52,030 S2: At least the gains tax free if you're just starting it. Um, 291 00:16:52,070 --> 00:16:54,630 S2: but you can always get back your original contributions at 292 00:16:54,630 --> 00:16:58,190 S2: any time. So, you know, that would be an option. Um, 293 00:16:58,230 --> 00:17:01,910 S2: in terms of what that portfolio might look like, you know, 294 00:17:01,950 --> 00:17:05,470 S2: it could be maybe 40% of it and high quality 295 00:17:05,510 --> 00:17:10,590 S2: short and intermediate term bonds. So a short term bond fund, uh, 296 00:17:10,590 --> 00:17:13,790 S2: or a government bond fund, you could use an exchange 297 00:17:13,790 --> 00:17:15,750 S2: traded fund to be pretty easy to do. And our 298 00:17:15,750 --> 00:17:19,190 S2: friends at Sound Mind Investing can help with that. Maybe 299 00:17:19,190 --> 00:17:23,990 S2: another portion, another 40% or 12,000 in some laddered CDs 300 00:17:24,030 --> 00:17:27,750 S2: or treasuries. So maybe you split that portion across one 301 00:17:27,990 --> 00:17:33,590 S2: and two year CDs or United States government treasuries, and then, 302 00:17:33,630 --> 00:17:36,380 S2: you know, maybe put the balance in money market and 303 00:17:36,380 --> 00:17:39,380 S2: I think, you know, packaging all of that together either 304 00:17:39,380 --> 00:17:42,540 S2: in or outside of an IRA. That's up to you. Um, 305 00:17:42,859 --> 00:17:46,540 S2: you know, could be great again, safe, a decent yield, 306 00:17:46,580 --> 00:17:51,540 S2: a good mix of fixed income options, but still fairly liquid, 307 00:17:51,700 --> 00:17:54,430 S2: especially when you with you carving out that 6 to 308 00:17:54,430 --> 00:17:58,060 S2: 12 months worth of expenses in the emergency fund. But 309 00:17:58,060 --> 00:17:59,180 S2: does that all make sense? 310 00:17:59,619 --> 00:18:03,340 S5: Yeah, that sounds good. I didn't realize at 66 you 311 00:18:03,340 --> 00:18:06,619 S5: still could do an IRA. I guess I, uh, so 312 00:18:06,660 --> 00:18:07,620 S5: that's good news. 313 00:18:07,900 --> 00:18:10,980 S2: Yeah. There is no, uh, you know, age limit on 314 00:18:10,980 --> 00:18:13,380 S2: an IRA. As long as you have that earned income, 315 00:18:13,380 --> 00:18:16,740 S2: you're allowed to continue to make that, uh, contribution. 316 00:18:17,140 --> 00:18:18,740 S5: All right. Thank you very much. 317 00:18:18,900 --> 00:18:21,219 S2: All right. We appreciate your call today, Greg. If we 318 00:18:21,220 --> 00:18:23,300 S2: can help further at any point, uh, don't hesitate to 319 00:18:23,300 --> 00:18:26,820 S2: reach out. Uh, let's head to Texas. Hi, Kristen. Go ahead. 320 00:18:27,260 --> 00:18:29,620 S7: So I'm kind of being a little bit vulnerable here. 321 00:18:29,619 --> 00:18:33,140 S7: I have a question. I'm trying to be obedient to 322 00:18:33,180 --> 00:18:36,650 S7: God in the area of money because he's really laid 323 00:18:36,650 --> 00:18:41,970 S7: it on my heart, and I give to the point 324 00:18:41,970 --> 00:18:45,609 S7: that my account goes in a negative. And I've really 325 00:18:46,250 --> 00:18:48,570 S7: been a giver since I was a child. It's part 326 00:18:48,570 --> 00:18:52,250 S7: of just who I am. But I know that can't 327 00:18:52,250 --> 00:18:56,730 S7: be normal, that I should. Yes, God calls us to give, 328 00:18:56,770 --> 00:18:59,450 S7: to help the poor, to help the widows, to help 329 00:18:59,450 --> 00:19:03,530 S7: those in need. But it can't possibly be normal to 330 00:19:03,570 --> 00:19:08,050 S7: to do that to that degree. And I want to learn. Um, 331 00:19:08,050 --> 00:19:10,930 S7: even though I read the Bible daily and I'm studying, 332 00:19:11,369 --> 00:19:15,449 S7: I still don't know where to go, where I learn 333 00:19:15,450 --> 00:19:18,690 S7: to have maybe self-control in giving, if that makes any sense. 334 00:19:18,690 --> 00:19:20,730 S7: I don't know if anybody else in the world has 335 00:19:20,730 --> 00:19:23,290 S7: this problem where their heart's too big and their brain 336 00:19:23,290 --> 00:19:26,930 S7: is not thinking logically related to money. Um, and then 337 00:19:26,930 --> 00:19:29,129 S7: also know about savings. So if you could recommend a 338 00:19:29,130 --> 00:19:32,250 S7: book or just have a comment. I'm just really struggling 339 00:19:32,250 --> 00:19:35,050 S7: with this and looking for advice. 340 00:19:35,250 --> 00:19:39,050 S2: Yeah, well, I really appreciate that question, Kristen. And you'd 341 00:19:39,090 --> 00:19:41,250 S2: be surprised. There's probably a lot of folks listening right 342 00:19:41,250 --> 00:19:44,250 S2: now because we hear this question often, something similar to 343 00:19:44,290 --> 00:19:47,170 S2: it that are in the same spot. So I appreciate 344 00:19:47,170 --> 00:19:51,250 S2: your transparency and vulnerability to ask the question, because I'm 345 00:19:51,250 --> 00:19:53,930 S2: praying that my response to you will be helpful, but 346 00:19:53,930 --> 00:19:57,250 S2: also to many others. Second, I would just encourage you, 347 00:19:57,290 --> 00:20:00,090 S2: you know, your desire to give as unto the Lord 348 00:20:00,490 --> 00:20:03,210 S2: is a natural response. You know those of us who 349 00:20:03,330 --> 00:20:05,690 S2: have seen what Christ has done on our behalf on 350 00:20:05,690 --> 00:20:09,530 S2: the cross, and trusted in Him as Savior. The natural 351 00:20:09,530 --> 00:20:14,050 S2: response to that grace is in part giving, living a 352 00:20:14,050 --> 00:20:16,930 S2: generous life and saying, God, everything I have is yours, 353 00:20:16,970 --> 00:20:20,970 S2: and you have extended unmerited favor and grace to me, 354 00:20:21,290 --> 00:20:23,370 S2: and I want to give. I want to participate in 355 00:20:23,369 --> 00:20:27,050 S2: your activity. I want to bless others. But I would say, 356 00:20:27,210 --> 00:20:30,410 S2: even though it's understandable to feel torn between your desire 357 00:20:30,410 --> 00:20:34,440 S2: to honor God and and, you know, through giving and 358 00:20:34,440 --> 00:20:38,040 S2: and that can collide at times with financial strain. Scripture 359 00:20:38,040 --> 00:20:43,560 S2: encourages generosity, but it also commends stewardship and wisdom. You know, 360 00:20:43,600 --> 00:20:46,040 S2: God doesn't call us to harm ourselves in order to 361 00:20:46,080 --> 00:20:49,400 S2: give the New Testament vision is and this comes right 362 00:20:49,400 --> 00:20:52,800 S2: out of second Corinthians eight, verse 12, according to what 363 00:20:52,800 --> 00:20:56,880 S2: one has not, according to what one does not have. 364 00:20:57,160 --> 00:21:01,600 S2: That's what the Apostle Paul says. So that truth frees us, then, 365 00:21:01,600 --> 00:21:05,160 S2: from what you might call pressure based giving. You see, 366 00:21:05,160 --> 00:21:10,200 S2: if giving consistently has pushed you into hardship, you know 367 00:21:10,240 --> 00:21:13,040 S2: that may be an invitation to slow down and rethink 368 00:21:13,080 --> 00:21:16,280 S2: your approach, not to stop being generous, but to make 369 00:21:16,280 --> 00:21:21,840 S2: generosity sustainable. And I would say, prayerfully consider budgeting for 370 00:21:21,840 --> 00:21:25,119 S2: your giving as a first priority, but at a level 371 00:21:25,119 --> 00:21:28,760 S2: that fits your current income and obligations and over time 372 00:21:28,920 --> 00:21:32,790 S2: as your financial footing strengthens, then your capacity to give 373 00:21:32,869 --> 00:21:37,270 S2: cheerfully can grow with it. Also, remember that generosity isn't 374 00:21:37,270 --> 00:21:43,710 S2: only financial time, hospitality or presence compassion, prayer. They all 375 00:21:43,750 --> 00:21:46,430 S2: bear witness to God's love. The goal isn't to prove 376 00:21:46,430 --> 00:21:50,830 S2: devotion through sacrifice, but to respond to God's grace with 377 00:21:50,830 --> 00:21:53,870 S2: gratitude and trust. I hope that's helpful. We'll be right 378 00:21:53,869 --> 00:22:05,310 S2: back on faith and finance. Stay with us. Thanks so 379 00:22:05,310 --> 00:22:07,869 S2: much for joining us today on Faith and Finance Live. 380 00:22:07,869 --> 00:22:10,430 S2: I'm Rob West, your host. Hey, our team is away 381 00:22:10,430 --> 00:22:13,469 S2: from the studio today. We're not here, but we've got 382 00:22:13,470 --> 00:22:16,149 S2: some great questions that we lined up in advance. I 383 00:22:16,150 --> 00:22:19,830 S2: know you'll enjoy those a little later in our broadcast. Folks, 384 00:22:19,830 --> 00:22:23,030 S2: have you checked out recently? Our website at Faith. Com. 385 00:22:23,070 --> 00:22:25,190 S2: If not, I'd encourage you to do that. You'll find 386 00:22:25,190 --> 00:22:28,389 S2: our community there where you can post questions and comments, 387 00:22:28,460 --> 00:22:31,780 S2: hear from others that are on the stewardship journey as well. 388 00:22:31,780 --> 00:22:34,300 S2: You can also access our content and check out the 389 00:22:34,300 --> 00:22:37,820 S2: Faith fi app. It's at Faith five. Before the break, 390 00:22:37,820 --> 00:22:41,460 S2: we were talking to Kristen in Texas. Uh, she's just 391 00:22:41,460 --> 00:22:44,300 S2: being really transparent and saying, listen, I want to give. 392 00:22:44,340 --> 00:22:47,939 S2: And in fact, I do. Uh, and from time to time, 393 00:22:47,980 --> 00:22:52,340 S2: it's really caused me to be in a financial hardship, uh, 394 00:22:52,380 --> 00:22:54,219 S2: as a result of my giving. I just want to 395 00:22:54,220 --> 00:22:57,140 S2: be faithful. I want to be obedient to the Lord. 396 00:22:57,140 --> 00:23:01,900 S2: But I'm just trying to reconcile this tension and even just, 397 00:23:01,940 --> 00:23:05,500 S2: you know, my experience in through my giving, you know, 398 00:23:05,540 --> 00:23:08,300 S2: getting myself into a difficult spot financially. And we were 399 00:23:08,300 --> 00:23:13,820 S2: talking about specifically that although Scripture encourages generosity, it just 400 00:23:13,820 --> 00:23:17,860 S2: as much encourages stewardship and wisdom. We're not called to 401 00:23:17,900 --> 00:23:20,420 S2: harm ourselves financially in order to give. And we were 402 00:23:20,420 --> 00:23:23,580 S2: talking about Second Corinthians eight, verse 12, that we're to 403 00:23:23,619 --> 00:23:26,860 S2: give according to what one has, not according to what 404 00:23:27,010 --> 00:23:31,530 S2: one does not have, and that budgeting around our giving, 405 00:23:31,570 --> 00:23:35,370 S2: making it a part of our plan, even perhaps building 406 00:23:35,369 --> 00:23:38,129 S2: in a portion for spontaneous giving. But again, as a 407 00:23:38,130 --> 00:23:41,129 S2: part of a well thought out plan of stewarding God's 408 00:23:41,130 --> 00:23:45,410 S2: resources entrusted to us will allow us to operate on 409 00:23:45,410 --> 00:23:48,770 S2: a solid financial footing, and as that strengthens, even be 410 00:23:48,770 --> 00:23:53,090 S2: in a position to grow our capacity for giving. Along 411 00:23:53,090 --> 00:23:55,570 S2: the way. But let me give you an opportunity, Kristen, 412 00:23:55,609 --> 00:23:57,010 S2: just to respond to that. 413 00:23:57,450 --> 00:24:01,570 S7: Yes. Um, just help me tremendously. Um, I'm turning 50 414 00:24:01,609 --> 00:24:05,450 S7: this year, and since I was a child and able 415 00:24:05,450 --> 00:24:09,530 S7: to or young adult able to earn money, um, I 416 00:24:09,570 --> 00:24:13,770 S7: give to the point of my account going into the negative. 417 00:24:13,770 --> 00:24:17,690 S7: And so you sharing Second Corinthians, you giving the wonderful 418 00:24:17,690 --> 00:24:23,610 S7: idea of actually budgeting for giving is, um, tremendously helpful. 419 00:24:23,890 --> 00:24:28,170 S7: Everything that I have is his and he has blessed 420 00:24:28,170 --> 00:24:31,770 S7: me all day, every day. And so I have this 421 00:24:31,770 --> 00:24:35,210 S7: giving heart that I've always had. Um, and like you said, 422 00:24:35,210 --> 00:24:38,490 S7: you talked about, um, you know, most people, when they 423 00:24:38,490 --> 00:24:41,770 S7: truly accept God's grace and love and into our hearts, 424 00:24:42,130 --> 00:24:45,770 S7: we ultimately want to give. Um, and so it's just 425 00:24:45,810 --> 00:24:50,609 S7: helped tremendously because it's something that for this year, I well, 426 00:24:50,650 --> 00:24:54,210 S7: until the end of my days that I really want 427 00:24:54,250 --> 00:24:56,490 S7: to work on because I want to be obedient. I 428 00:24:56,490 --> 00:25:00,010 S7: want to do his will. Sorry, I didn't mean to cry. 429 00:25:00,450 --> 00:25:03,690 S2: No, I appreciate your heart. I mean, clearly you want 430 00:25:03,730 --> 00:25:06,530 S2: to honor the Lord, and he's given you the gift 431 00:25:06,530 --> 00:25:10,170 S2: of giving. And, uh, I'm confident that, uh, as you 432 00:25:10,170 --> 00:25:13,130 S2: really stop and pray through and ask him for wisdom, 433 00:25:13,369 --> 00:25:16,609 S2: he'll give you that guidance so that you can move 434 00:25:16,609 --> 00:25:20,969 S2: to a place of financial strength and stability, but also, uh, 435 00:25:20,970 --> 00:25:23,450 S2: allow you to continue to give as unto the Lord, 436 00:25:23,450 --> 00:25:27,720 S2: which clearly delights your heart. And I know pleases the Lord. 437 00:25:27,800 --> 00:25:29,960 S2: Here's what I'd love to do, Kristin. I'm going to 438 00:25:29,960 --> 00:25:33,479 S2: have my team send you a copy of Faithful Steward, 439 00:25:33,480 --> 00:25:37,240 S2: our magazine, issue two, and we have a great article 440 00:25:37,240 --> 00:25:41,000 S2: in there by Taylor Standridge, who's our production manager here 441 00:25:41,000 --> 00:25:43,800 S2: and one of our key writers on our team. And 442 00:25:43,800 --> 00:25:46,600 S2: he's written an article called am I Giving for the 443 00:25:46,600 --> 00:25:51,080 S2: Right Reasons? And it it offers not only what we 444 00:25:51,080 --> 00:25:54,480 S2: shouldn't give for, you know, the reasons that we should 445 00:25:54,480 --> 00:25:56,919 S2: be on our guard if we're giving for any of those, 446 00:25:56,920 --> 00:26:00,000 S2: but also some principles for generous giving that I think 447 00:26:00,040 --> 00:26:02,640 S2: could be really helpful to you. Plus, the rest of 448 00:26:02,640 --> 00:26:05,600 S2: the magazine has just some wonderful content that I think 449 00:26:05,600 --> 00:26:08,160 S2: will encourage you in your your role as a steward. 450 00:26:08,160 --> 00:26:10,200 S2: So let's do this. You stay on the line. Our 451 00:26:10,200 --> 00:26:13,880 S2: team will get your information. We'll get faithful steward Magazine 452 00:26:13,880 --> 00:26:16,080 S2: issue two out to you, and if you have any 453 00:26:16,080 --> 00:26:18,760 S2: other thoughts along the way, don't hesitate to call back. Okay. 454 00:26:19,320 --> 00:26:20,520 S7: Thank you. God bless you. 455 00:26:20,960 --> 00:26:23,469 S2: All. Lord bless you as well. Thanks for calling today. 456 00:26:23,790 --> 00:26:25,470 S2: Let's go to Missouri. Hi, Jeff. Go ahead. 457 00:26:26,310 --> 00:26:29,150 S8: My wife had real bad teeth and it was affecting 458 00:26:29,150 --> 00:26:33,470 S8: her health, so I took out some loans. Uh, one 459 00:26:33,470 --> 00:26:38,310 S8: for 16, one for 15, one for $4,000 to, uh, 460 00:26:38,350 --> 00:26:43,429 S8: and put 4000 down for her. Her implants. Upper and lower. Um, 461 00:26:43,430 --> 00:26:46,670 S8: I was working quite regularly. I'm 65 years old, and 462 00:26:46,670 --> 00:26:49,790 S8: I've always worked 60 hours a week. But in the 463 00:26:49,790 --> 00:26:52,109 S8: last few months, they've cut me down to about one 464 00:26:52,109 --> 00:26:57,430 S8: week every month. And that's, uh, made it, like, almost impossible. 465 00:26:57,470 --> 00:27:00,310 S8: But I've been making the payments and I've used all 466 00:27:00,350 --> 00:27:02,950 S8: of my savings to keep up with everything, and now 467 00:27:02,950 --> 00:27:05,590 S8: it's down to where it's like a hole that I 468 00:27:05,590 --> 00:27:08,350 S8: can't get out of. But I've not failed on any 469 00:27:08,350 --> 00:27:12,990 S8: payments yet, and I paid the 4000 or $5000 went off. 470 00:27:13,270 --> 00:27:15,629 S8: I paid it off. That was about a year ago 471 00:27:15,630 --> 00:27:18,910 S8: when she got her teeth. And, uh, so I was 472 00:27:18,910 --> 00:27:21,390 S8: just wondering if there was a place or somebody that 473 00:27:21,390 --> 00:27:23,540 S8: could can help me get secure loans because the loans 474 00:27:23,540 --> 00:27:27,740 S8: I have are like 30, 29 something percent interest. And 475 00:27:27,740 --> 00:27:31,500 S8: for a while I was paying extra on all the payments. 476 00:27:31,540 --> 00:27:33,820 S8: You know, I paid the smaller one off. But one 477 00:27:33,820 --> 00:27:36,740 S8: of them, when I asked him why the balance, you know, 478 00:27:36,780 --> 00:27:39,979 S8: the the principal was not dropping. They said all my 479 00:27:39,980 --> 00:27:43,820 S8: payments were going towards interest. And on the contract it 480 00:27:43,820 --> 00:27:46,980 S8: said plainly said that anything you paid monthly over your 481 00:27:47,020 --> 00:27:51,860 S8: $480 payment would go towards principal. But then they told 482 00:27:51,859 --> 00:27:54,060 S8: me there was some fine print that I missed, that 483 00:27:54,060 --> 00:27:56,500 S8: I have to get pre-approval and everything, so I'd just 484 00:27:56,540 --> 00:27:59,820 S8: like to see about getting a loan for the entire 485 00:27:59,820 --> 00:28:03,500 S8: amount through all of them. That's left at a lower 486 00:28:03,500 --> 00:28:06,260 S8: percent interest rate. So I have one payment with somebody 487 00:28:06,300 --> 00:28:09,660 S8: honest that when they say it goes towards principal, it 488 00:28:09,660 --> 00:28:11,780 S8: would actually go towards principal. 489 00:28:11,820 --> 00:28:14,820 S2: Yes. Boy, boy, that is a difficult spot Jeff. And 490 00:28:14,820 --> 00:28:16,740 S2: I know that's a heavy load that you're carrying. And 491 00:28:16,740 --> 00:28:20,060 S2: I understand why this was necessary for you to care 492 00:28:20,140 --> 00:28:22,620 S2: for your wife medically. And I'm so sorry to hear 493 00:28:22,619 --> 00:28:25,260 S2: about not only the interest rate, because I realize that 494 00:28:25,260 --> 00:28:28,899 S2: is really challenging, but also just your job situation. Uh, 495 00:28:28,900 --> 00:28:32,660 S2: are you in a position to work full time, health wise, 496 00:28:32,660 --> 00:28:36,340 S2: and if so, are you actively looking to supplement the 497 00:28:36,340 --> 00:28:39,700 S2: hours that were taken away through other means of employment? 498 00:28:40,060 --> 00:28:43,700 S8: Yes, sir. Yeah. I've been putting in applications and looking 499 00:28:43,700 --> 00:28:47,780 S8: through the workforce development and, uh, yeah, I've been applying 500 00:28:47,780 --> 00:28:52,220 S8: and stuff, but right now I'm a skilled craftsman, a welder, so, 501 00:28:52,700 --> 00:28:55,420 S8: but that's like, uh, and my insurance is through my 502 00:28:55,460 --> 00:28:58,580 S8: I've been with that employer for 21 years, so it 503 00:28:58,580 --> 00:29:01,180 S8: would be real tough to change. I know if I 504 00:29:01,220 --> 00:29:03,380 S8: changed over to another company right now, I would get 505 00:29:03,380 --> 00:29:05,660 S8: all the terrible jobs for the first few years. 506 00:29:05,900 --> 00:29:08,820 S2: Yeah, I certainly understand that. What is your credit score? 507 00:29:08,860 --> 00:29:09,420 S2: Do you know? 508 00:29:10,180 --> 00:29:15,260 S8: I think it's 630 or 640 maybe. Might be even 509 00:29:15,260 --> 00:29:17,820 S8: more than that. It might be 50 or 670. I 510 00:29:17,820 --> 00:29:21,010 S8: know it's I've been getting alerts that it's going up, 511 00:29:21,450 --> 00:29:24,330 S8: you know, by paying things off and keeping payments up 512 00:29:24,330 --> 00:29:26,490 S8: and everything, which I've been doing really well at for 513 00:29:26,490 --> 00:29:29,650 S8: a few years. So I haven't really checked it, but 514 00:29:29,650 --> 00:29:31,330 S8: it might be closer to seven. 515 00:29:31,450 --> 00:29:35,610 S2: Okay. Yeah. I mean, that's good. And obviously, um, you know, 516 00:29:35,650 --> 00:29:39,850 S2: your income situation could be a little problematic because what 517 00:29:39,850 --> 00:29:42,010 S2: you would probably want to look for here is a 518 00:29:42,010 --> 00:29:44,970 S2: personal loan. And I would start with a local credit union. 519 00:29:44,970 --> 00:29:47,850 S2: Or you could head to Christian Community Credit Union Faith 520 00:29:47,850 --> 00:29:53,090 S2: by banking. But unlike the big banks, federal credit unions legally, 521 00:29:53,410 --> 00:29:56,770 S2: you know, can't charge more than 18% interest on most loans. 522 00:29:56,770 --> 00:29:58,410 S2: That would cut your rate in half. And if you 523 00:29:58,410 --> 00:30:00,930 S2: have good credit, you could also look at some of 524 00:30:00,930 --> 00:30:05,330 S2: the other options, like SoFi or Marcus or LightStream. You know, 525 00:30:05,370 --> 00:30:09,450 S2: they offer loans up to 50,000 for medical debt consolidation 526 00:30:09,650 --> 00:30:14,210 S2: between 8 and 15%. Um, you obviously have to qualify 527 00:30:14,250 --> 00:30:16,770 S2: both from an income and a credit score standpoint, but 528 00:30:16,770 --> 00:30:20,520 S2: they you could use one of the aggregators like Bank 529 00:30:20,520 --> 00:30:24,880 S2: rate or NerdWallet and use their Prequalify tool just to see. 530 00:30:25,240 --> 00:30:27,760 S2: The other option is you could, you know, call or 531 00:30:27,800 --> 00:30:31,960 S2: alongside that you could call and ask for, you know, hardship, 532 00:30:31,960 --> 00:30:34,760 S2: forbearance with your current lender. See if you could get 533 00:30:34,760 --> 00:30:37,920 S2: a temporary payment reduction or an interest rate reduction or 534 00:30:37,960 --> 00:30:41,960 S2: a fee waiver. Um, just while you get back into, 535 00:30:42,000 --> 00:30:44,800 S2: you know, full time employment, your income comes back up. 536 00:30:44,800 --> 00:30:46,800 S2: But even if we can do that, we need to 537 00:30:46,840 --> 00:30:49,120 S2: try to get that interest rate down. So I think 538 00:30:49,400 --> 00:30:51,880 S2: a credit union or some of those lenders that I 539 00:30:51,880 --> 00:30:54,680 S2: mentioned might be a great option. Jeff, stay on the line. 540 00:30:54,680 --> 00:30:56,320 S2: I'm going to pray with you. We'll be right back. 541 00:31:05,000 --> 00:31:07,520 S6: This is our final segment of a Faith and finance 542 00:31:07,560 --> 00:31:10,880 S6: Live program that we previously recorded. Thanks so much for 543 00:31:10,880 --> 00:31:13,120 S6: being with us today, and we hope you'll stick around 544 00:31:13,120 --> 00:31:15,240 S6: and enjoy the rest of the program. 545 00:31:17,030 --> 00:31:19,470 S2: Before the break, we were talking to Jeff in Missouri. 546 00:31:19,510 --> 00:31:22,830 S2: He had to pay for permanent teeth implants for his 547 00:31:22,830 --> 00:31:26,310 S2: wife last year. It was just absolutely necessary. He had 548 00:31:26,310 --> 00:31:28,510 S2: to take out a number of loans in order to 549 00:31:28,550 --> 00:31:31,150 S2: do that. Uh, you know, totaling when you put it 550 00:31:31,150 --> 00:31:36,870 S2: all together, about $40,000, it's at 29% interest. He works 551 00:31:36,870 --> 00:31:39,710 S2: 60 hours a week. But just recently, he was cut 552 00:31:39,710 --> 00:31:43,430 S2: back to only being able to work one week a month. 553 00:31:43,430 --> 00:31:47,270 S2: He's actively looking for, uh, some additional income to fill 554 00:31:47,270 --> 00:31:49,830 S2: that gap, but just trying to figure out what that 555 00:31:49,830 --> 00:31:52,510 S2: path forward is. And I was saying, you know, if 556 00:31:52,510 --> 00:31:54,709 S2: you have a good credit score, I realize your income 557 00:31:54,750 --> 00:31:57,190 S2: may be challenging, but trying to get a personal loan, 558 00:31:57,230 --> 00:32:02,750 S2: a medical consolidation loan with SoFi or a credit union or, uh, 559 00:32:02,750 --> 00:32:06,270 S2: you know, going to Bankrate.com and just using their pre-qualification 560 00:32:06,270 --> 00:32:08,750 S2: tool could be a great option for you. And then 561 00:32:08,750 --> 00:32:11,710 S2: also calling your current lender just to see if you 562 00:32:11,710 --> 00:32:15,150 S2: could get a temporary payment reduction. Jeff, I think, could 563 00:32:15,150 --> 00:32:18,230 S2: help cover the gap between now and maybe where your 564 00:32:18,230 --> 00:32:21,190 S2: income is restored and we'll trust the Lord for that. 565 00:32:21,190 --> 00:32:23,670 S2: But give me your thoughts on all that and any 566 00:32:23,670 --> 00:32:24,830 S2: follow up questions you have. 567 00:32:25,390 --> 00:32:29,310 S8: I, I really appreciate that because if I could get 568 00:32:29,310 --> 00:32:33,710 S8: the interest rate drop down and I appreciate your prayers. Um, 569 00:32:33,710 --> 00:32:37,150 S8: like I said, I'm seeking seeking work. Um, I've been 570 00:32:37,150 --> 00:32:39,710 S8: with the company for 21 years, so, uh, but I'm 571 00:32:39,710 --> 00:32:42,630 S8: ready to start with a new company, if that's what's necessary. 572 00:32:42,790 --> 00:32:43,870 S2: Yeah, and very good. 573 00:32:45,510 --> 00:32:48,190 S8: Especially the Christian credit bureau and different things. I'm going 574 00:32:48,190 --> 00:32:51,550 S8: to try them, and, uh, Lord will provide something will 575 00:32:51,550 --> 00:32:55,710 S8: work out. He's he's, uh, he's always been good to me, 576 00:32:55,710 --> 00:32:57,110 S8: and I can't complain. 577 00:32:57,990 --> 00:33:00,590 S2: Well, I appreciate that. And we're going to ask the 578 00:33:00,590 --> 00:33:02,750 S2: faith and finance community to be praying for you. And 579 00:33:02,750 --> 00:33:04,070 S2: let me just put this out there. We don't do 580 00:33:04,070 --> 00:33:07,350 S2: this very often, but I just feel, uh, led to 581 00:33:07,390 --> 00:33:10,990 S2: ask if anybody's out there today hearing, uh, Jeff's story 582 00:33:10,990 --> 00:33:14,500 S2: and you want to be a blessing to his family 583 00:33:14,500 --> 00:33:17,140 S2: and provide some of those resources. We have a way 584 00:33:17,540 --> 00:33:21,500 S2: through a partner ministry called Helping Hands to verify the need. Um, 585 00:33:21,700 --> 00:33:24,980 S2: get all the documentation and then for any gifts given, 586 00:33:25,020 --> 00:33:29,140 S2: pay them directly to the lender so nothing passes through 587 00:33:29,460 --> 00:33:33,060 S2: the recipient's hands. It all goes to meet the need 100%. 588 00:33:33,060 --> 00:33:35,260 S2: And if somebody's hearing Jeff's story today and you want 589 00:33:35,260 --> 00:33:38,340 S2: to be a blessing and step in and help them 590 00:33:38,420 --> 00:33:40,740 S2: pay this down just given the situation they're in, just 591 00:33:40,740 --> 00:33:45,100 S2: call 800 525 7000. Let our team know and we 592 00:33:45,100 --> 00:33:47,820 S2: can make all the arrangements to get that done. Jeff. 593 00:33:47,820 --> 00:33:50,900 S2: Lord bless you my friend, and we appreciate your call today, sir. 594 00:33:51,300 --> 00:33:54,420 S8: Thank you. Thank you. God bless you. I love your program. 595 00:33:54,420 --> 00:33:56,980 S2: Thank you very much. Uh, Larry is in Coeur d'Alene. 596 00:33:56,980 --> 00:33:57,660 S2: Go ahead sir. 597 00:33:58,540 --> 00:34:01,580 S9: Yes. I had a question. Uh, you know, as far 598 00:34:01,580 --> 00:34:06,740 S9: as biblically, I'm a bit nervous giving first fruits. The 599 00:34:06,740 --> 00:34:10,780 S9: pastor I've been watching for years preaches on first fruits, 600 00:34:11,050 --> 00:34:16,650 S9: And he mentions it's the first week's pay. And I'm thinking, well, 601 00:34:16,930 --> 00:34:22,130 S9: you know, I'm living on Social Security disability and, uh, 602 00:34:22,330 --> 00:34:24,650 S9: you know, it could be right. I don't want to, 603 00:34:25,330 --> 00:34:27,969 S9: you know, I am a giver and I believe in giving. 604 00:34:28,250 --> 00:34:30,489 S9: But I wonder if you had any comments. 605 00:34:31,090 --> 00:34:33,290 S2: Yeah, I'd be happy to. Larry, I appreciate you asking 606 00:34:33,290 --> 00:34:36,330 S2: the question. You know, I think the key here is 607 00:34:36,530 --> 00:34:40,770 S2: when we think about the tithe, certainly there's, you know, 608 00:34:40,810 --> 00:34:45,489 S2: the biblical precedent of the tithe. And I think, you know, 609 00:34:45,530 --> 00:34:47,930 S2: in our fear of getting the tithe wrong, we can 610 00:34:47,969 --> 00:34:50,930 S2: sometimes kind of miss the beauty and the joy and 611 00:34:50,930 --> 00:34:55,009 S2: the adventure of a life of biblical stewardship and generosity. 612 00:34:55,250 --> 00:34:57,850 S2: And at the same time, it's, I think, a foundational 613 00:34:57,850 --> 00:35:01,330 S2: practice that we see established in both the old and 614 00:35:01,330 --> 00:35:04,210 S2: the New Testament. So going back to Abraham giving a 615 00:35:04,210 --> 00:35:07,610 S2: 10th of war spoils to Melchizedek. And then we have 616 00:35:07,610 --> 00:35:11,319 S2: Jacob making that conditional promise to tithe if God fulfills 617 00:35:11,480 --> 00:35:15,680 S2: Jacob's conditions. And this is not a model prayer. And 618 00:35:15,680 --> 00:35:19,040 S2: it's unclear whether Jacob follows through, but it's certainly referenced. 619 00:35:19,040 --> 00:35:22,279 S2: And then you've got in Leviticus, where it defines the 620 00:35:22,280 --> 00:35:26,239 S2: tithe for Israel as a 10th of all agricultural production, 621 00:35:26,239 --> 00:35:28,440 S2: including the fruit and the grain and the vegetables and 622 00:35:28,440 --> 00:35:32,440 S2: the animals. And then numbers establishes the tithe, as is 623 00:35:32,480 --> 00:35:35,680 S2: wage income for the Levites, the Levitical priests, because they 624 00:35:35,680 --> 00:35:38,279 S2: have no land of their own. So I think when 625 00:35:38,280 --> 00:35:40,400 S2: we step back, you know, we want to see a 626 00:35:40,400 --> 00:35:43,200 S2: few kind of big ideas come out of this. I 627 00:35:43,200 --> 00:35:46,760 S2: think one is we want to give financial gifts to 628 00:35:46,800 --> 00:35:50,680 S2: Christ as an overflow of our gratitude for what he's 629 00:35:50,680 --> 00:35:54,440 S2: done for us on the cross, just as Abraham did. Uh, 630 00:35:54,480 --> 00:35:56,520 S2: we want to give faithfully to the local church to 631 00:35:56,560 --> 00:36:00,839 S2: advance the gospel and rightly compensate our spiritual leaders. We 632 00:36:00,840 --> 00:36:03,960 S2: also want to give systematically and proportionately. And I think 633 00:36:03,960 --> 00:36:07,000 S2: that comes out in the Old Testament tithe. So how 634 00:36:07,000 --> 00:36:11,790 S2: do you apply that, though, to you in giving on 635 00:36:11,830 --> 00:36:15,910 S2: your entitlement, your Social Security or pension, something like that. 636 00:36:15,950 --> 00:36:17,670 S2: I mean, I think what you have to recognize is 637 00:36:17,670 --> 00:36:20,230 S2: there's a portion of that that's being returned to you 638 00:36:20,230 --> 00:36:22,589 S2: from what you paid in. There's a portion that was 639 00:36:22,590 --> 00:36:25,669 S2: your employer's contribution, and then there was a portion that 640 00:36:25,670 --> 00:36:29,950 S2: can constitutes that, which is the gain that's built into that. 641 00:36:29,950 --> 00:36:32,270 S2: And so I think the best option for you is 642 00:36:32,270 --> 00:36:34,950 S2: either to say everything I receive is a gracious gift 643 00:36:34,950 --> 00:36:37,390 S2: from God. And so I'm going to apply the principle 644 00:36:37,390 --> 00:36:39,989 S2: of the tithe on the increase and treat the whole 645 00:36:39,989 --> 00:36:43,590 S2: thing as an increase and just give as you receive 646 00:36:43,590 --> 00:36:46,790 S2: it as unto the Lord. I think the second option 647 00:36:46,790 --> 00:36:48,310 S2: is to say, well, maybe I'm going to split it 648 00:36:48,310 --> 00:36:50,630 S2: down the middle because a portion of this was not 649 00:36:50,630 --> 00:36:54,390 S2: mine that I put in, but a portion was. And 650 00:36:54,390 --> 00:36:56,310 S2: so maybe I'm going to take half of whatever I 651 00:36:56,310 --> 00:36:59,630 S2: get in Social Security, for instance, and treat that as 652 00:36:59,630 --> 00:37:02,350 S2: increase and the other half as a return of my 653 00:37:02,350 --> 00:37:05,670 S2: contribution into the Social Security Trust Fund. And I'm going 654 00:37:05,710 --> 00:37:08,310 S2: to give a tithe on half of it. And then 655 00:37:08,310 --> 00:37:11,149 S2: as the Lord leads, perhaps give beyond that. So I 656 00:37:11,150 --> 00:37:12,910 S2: think the key is to always approach it with the 657 00:37:12,910 --> 00:37:16,189 S2: right heart attitude, not a kind of a legalistic approach, 658 00:37:16,390 --> 00:37:19,229 S2: but at the same time, I like that model of 659 00:37:19,230 --> 00:37:22,350 S2: systematic and proportionate giving. Does that make sense though? 660 00:37:22,830 --> 00:37:26,189 S9: Uh, it does, it does. The whole tithing thing and 661 00:37:26,190 --> 00:37:28,750 S9: all that really gets kind of heavy. But it's really 662 00:37:28,750 --> 00:37:31,630 S9: not that complicated when you think about it. 663 00:37:32,110 --> 00:37:34,750 S2: It really doesn't have to be, I don't think. And so, 664 00:37:34,790 --> 00:37:38,109 S2: you know, I think regardless of whatever conclusions you draw 665 00:37:38,110 --> 00:37:41,670 S2: about the tithe, we want to remember that biblical generosity 666 00:37:41,870 --> 00:37:45,150 S2: is not about checking a box of obedience. It's a holistic, 667 00:37:45,150 --> 00:37:49,710 S2: fully surrendered life of godliness. But I think that clearly 668 00:37:49,710 --> 00:37:54,990 S2: includes giving. And I think, uh, a regular schedule proportionate 669 00:37:54,989 --> 00:37:59,710 S2: gift that's given freely and joyfully, uh, directed to causes 670 00:37:59,710 --> 00:38:02,669 S2: that honor the kingdom of God on earth, starting with 671 00:38:02,670 --> 00:38:05,750 S2: the local church is absolutely the way to go. So 672 00:38:05,790 --> 00:38:08,100 S2: hope that helps Larry give you some things to think about. 673 00:38:08,100 --> 00:38:12,300 S2: At least we appreciate your call today. Uh, let's go to, uh, Alabama. Hi, Melinda. 674 00:38:12,300 --> 00:38:12,860 S2: Go ahead. 675 00:38:13,380 --> 00:38:15,420 S10: Hi, Mr. Rob, thank you for taking my call. 676 00:38:15,460 --> 00:38:15,900 S2: Sure. 677 00:38:16,300 --> 00:38:19,500 S10: Yes. I have a question. I was wondering, is this 678 00:38:19,500 --> 00:38:23,860 S10: a good season to scale up on my investments, or 679 00:38:23,900 --> 00:38:27,780 S10: should I pay them off? Right now I have about. Yeah, 680 00:38:27,780 --> 00:38:31,020 S10: I have two mortgages on the investment properties that I have. 681 00:38:31,219 --> 00:38:34,140 S2: Okay. Yeah. I mean, I always like you being free 682 00:38:34,140 --> 00:38:35,900 S2: and clear, but let's talk about that for a second. 683 00:38:35,900 --> 00:38:38,780 S2: So you have two properties. What are the values of them. 684 00:38:39,620 --> 00:38:42,580 S10: Um I have one property. I pay like 20 some 685 00:38:42,620 --> 00:38:46,299 S10: thousand and it's valued at like 65. So I have 686 00:38:46,300 --> 00:38:49,700 S10: about 45,000 equity in that one. And I have another 687 00:38:49,700 --> 00:38:54,739 S10: property I paid about 32,000 and it's worth 100,000. So 688 00:38:54,780 --> 00:38:56,980 S10: I have about 70 in equity. 689 00:38:57,540 --> 00:39:00,140 S2: Okay. All right. So you owe 30 on that one. 690 00:39:00,460 --> 00:39:03,940 S2: And um, where would you say you owe? It sounds like, 691 00:39:03,980 --> 00:39:07,049 S2: you know, if you pay these off. Did you say 692 00:39:07,050 --> 00:39:09,450 S2: you owe 45 or you have 45 in equity on 693 00:39:09,450 --> 00:39:10,130 S2: the first one? 694 00:39:10,810 --> 00:39:13,690 S10: Well, the first one, um, I paid it off. It 695 00:39:13,690 --> 00:39:17,250 S10: was 20,000, and I have like 60,000 in equity in 696 00:39:17,290 --> 00:39:20,569 S10: that one. And then the second mortgage, I have like 697 00:39:20,570 --> 00:39:25,049 S10: 32,000 and its value at like 100,000. Okay. So it's 698 00:39:25,050 --> 00:39:27,250 S10: like $70,000 equity in that one. 699 00:39:27,290 --> 00:39:29,009 S2: Okay. So what would it if you wanted to pay 700 00:39:29,010 --> 00:39:31,089 S2: everything off free and clear, how much would be the 701 00:39:31,090 --> 00:39:32,450 S2: total that you'd have to pay? 702 00:39:33,130 --> 00:39:36,170 S10: If I included I also have land. So um, that 703 00:39:36,170 --> 00:39:39,490 S10: I have like, a mortgage on it as well. It's, um, 704 00:39:39,489 --> 00:39:43,969 S10: it's like 40 acres, uh, paid like 55, 56,000 for it. 705 00:39:43,969 --> 00:39:47,250 S10: And I think it's worth maybe 150,000. So to pay 706 00:39:47,250 --> 00:39:50,009 S10: everything off, I would estimate about 80,000. 707 00:39:50,170 --> 00:39:52,250 S2: Okay. And where would that money come from? Where is 708 00:39:52,250 --> 00:39:53,210 S2: that money today. 709 00:39:53,969 --> 00:39:56,410 S11: To pay it off? Yes, I would have to sell it. 710 00:39:56,410 --> 00:39:58,250 S10: That's what I'm saying. Is this a good season to. 711 00:39:58,450 --> 00:40:01,690 S2: I see yeah. Yeah. And so I think that comes 712 00:40:01,690 --> 00:40:05,040 S2: down to well with respect to the properties that have 713 00:40:05,040 --> 00:40:07,600 S2: dwellings on them. Do you want to be a renter 714 00:40:07,640 --> 00:40:11,400 S2: or excuse me, a landlord and be in the rental business? 715 00:40:11,440 --> 00:40:14,440 S2: I mean, yeah, I mean, we're in a great market 716 00:40:14,440 --> 00:40:17,719 S2: just kind of overall. Now, whether that applies, you know, 717 00:40:17,760 --> 00:40:21,560 S2: to where you're at specifically in Alabama, you could get 718 00:40:21,560 --> 00:40:23,480 S2: with a real estate professional there. But I mean, from 719 00:40:23,480 --> 00:40:26,399 S2: what you've just described quickly, sounds like you've had pretty 720 00:40:26,400 --> 00:40:30,800 S2: good appreciation of these properties. So these properties have performed well. 721 00:40:31,080 --> 00:40:34,640 S2: You know, I'm not crazy about land unless you think, 722 00:40:34,680 --> 00:40:37,040 S2: you know, this has real growth potential because it's in 723 00:40:37,040 --> 00:40:40,560 S2: an area where they're bringing infrastructure in and it you know, 724 00:40:40,600 --> 00:40:43,040 S2: there could be a wave of development maybe moving into 725 00:40:43,040 --> 00:40:45,760 S2: this area. The reason I don't like it as much 726 00:40:45,760 --> 00:40:49,719 S2: is there's just, you know, doesn't generate any income typically 727 00:40:49,719 --> 00:40:52,600 S2: unless you, you know, it's farmland or something like that. 728 00:40:52,840 --> 00:40:56,640 S2: And there's just risks with regard to, you know, infrastructure 729 00:40:56,640 --> 00:41:01,040 S2: and whether or not, um, you know, anybody, it's very desirable. 730 00:41:01,040 --> 00:41:04,279 S2: But with the properties that are rental properties, obviously there's 731 00:41:04,280 --> 00:41:07,960 S2: a whole nother layer of consideration there because you have 732 00:41:07,960 --> 00:41:10,440 S2: to decide, do you want to be a landlord? Uh, 733 00:41:10,440 --> 00:41:13,960 S2: and would you rather take that money that's done? Well, 734 00:41:13,960 --> 00:41:17,080 S2: you described all those increases and move it over to 735 00:41:17,120 --> 00:41:21,800 S2: something that's more passive, like a stock and bond investment portfolio? 736 00:41:21,960 --> 00:41:23,680 S2: I could get on board with that. And maybe you 737 00:41:23,680 --> 00:41:25,719 S2: split the middle, you know, maybe you say, listen, I'm 738 00:41:25,719 --> 00:41:27,680 S2: going to keep one. I'm going to keep it free 739 00:41:27,680 --> 00:41:30,239 S2: and clear. And, um, you know, I'm going to rent 740 00:41:30,239 --> 00:41:33,000 S2: it out whichever one is more desirable, but I'm going 741 00:41:33,040 --> 00:41:34,920 S2: to sell the land and the other one, and I'm 742 00:41:34,920 --> 00:41:37,439 S2: going to put that in real estate. That would allow 743 00:41:37,440 --> 00:41:41,319 S2: you to get more diversification across asset classes, because the 744 00:41:41,320 --> 00:41:43,759 S2: way we reduce risk is we don't have all of 745 00:41:43,760 --> 00:41:45,719 S2: our eggs in one basket. So that way you'd have 746 00:41:45,760 --> 00:41:48,480 S2: a a free and clear rental property and you'd have 747 00:41:48,480 --> 00:41:51,680 S2: stocks and bonds. And that gives you broader diversification, which 748 00:41:51,680 --> 00:41:53,880 S2: is never a bad thing. I hope that helps you. 749 00:41:53,880 --> 00:41:56,320 S2: Thanks for your call today. Hey, before we wrap up today, 750 00:41:56,320 --> 00:41:59,400 S2: let me remind you, you know, financial decision making can 751 00:41:59,400 --> 00:42:05,149 S2: often seem overwhelming. Seemingly endless decisions about money. But we 752 00:42:05,150 --> 00:42:09,310 S2: can boil it down into something perhaps a bit more simple. 753 00:42:09,550 --> 00:42:12,190 S2: All we can do with money is live, give, owe 754 00:42:12,230 --> 00:42:14,509 S2: and grow. There's the money we spend on our lifestyle, 755 00:42:14,510 --> 00:42:17,629 S2: the money we owe for debt and taxes, the money 756 00:42:17,630 --> 00:42:19,870 S2: we grow for the future and the money we give 757 00:42:19,870 --> 00:42:23,750 S2: to the Lord's work. And all of those are addressed 758 00:42:23,750 --> 00:42:27,190 S2: in Scripture. Every one of those have principles that we 759 00:42:27,190 --> 00:42:28,990 S2: can pull out of God's Word, our hope and prayers 760 00:42:28,989 --> 00:42:30,910 S2: that we can help you do that on this program 761 00:42:31,150 --> 00:42:34,270 S2: each day. Faith and Finance Live is a partnership between 762 00:42:34,270 --> 00:42:36,549 S2: Moody Radio and Faith fi. Let me say thank you 763 00:42:36,550 --> 00:42:40,510 S2: to my team today. Amy, Dan, Jim and Gabby. T 764 00:42:40,550 --> 00:42:42,790 S2: couldn't do it without them. Thank you for being along 765 00:42:42,790 --> 00:42:45,069 S2: with us as well. So thankful for your calls and 766 00:42:45,070 --> 00:42:47,549 S2: your questions. Have a great rest of your day and 767 00:42:47,550 --> 00:42:50,030 S2: we'll see you next time on Faith and Finance live. 768 00:42:50,070 --> 00:42:50,550 S2: Buh bye.