1 00:00:04,240 --> 00:00:07,160 S1: The following program was pre-recorded, so our phone lines are 2 00:00:07,160 --> 00:00:08,000 S1: not open. 3 00:00:08,440 --> 00:00:11,360 S2: Where there is no guidance, a people fault, but in 4 00:00:11,360 --> 00:00:16,160 S2: an abundance of counselors, there is safety. Proverbs 1114. Hi, 5 00:00:16,200 --> 00:00:19,279 S2: I'm Rob West at one time finding someone who shared 6 00:00:19,280 --> 00:00:22,840 S2: your Christian values and could give you expert financial guidance 7 00:00:22,840 --> 00:00:26,480 S2: was quite a challenge. But today, a nationwide network of 8 00:00:26,480 --> 00:00:30,680 S2: Christian financial professionals fills that void. Sharon Eppes joins us 9 00:00:30,680 --> 00:00:34,360 S2: today to explain what is a C, k a, and 10 00:00:34,360 --> 00:00:36,640 S2: we have some great calls lined up, but we won't 11 00:00:36,640 --> 00:00:40,400 S2: be taking your live calls today because we're prerecorded. This 12 00:00:40,400 --> 00:00:49,880 S2: is faith and finance. Live biblical wisdom for your financial journey. Well, 13 00:00:49,880 --> 00:00:52,320 S2: if you're new to the program, C, k A stands 14 00:00:52,320 --> 00:00:56,240 S2: for Certified Kingdom Advisor and there are almost 2000 of 15 00:00:56,240 --> 00:00:59,080 S2: them now across the US and Canada. Sharon Eppes is 16 00:00:59,080 --> 00:01:02,520 S2: president of Kingdom Advisors. And under her leadership, that number 17 00:01:02,520 --> 00:01:05,400 S2: continues to grow. Sharon, great to have you back. 18 00:01:05,440 --> 00:01:06,280 S3: Glad to be here. 19 00:01:06,520 --> 00:01:10,360 S2: Kingdom advisors is, of course, the brainchild of Larry Burkett 20 00:01:10,360 --> 00:01:15,000 S2: and Ron Blue, who realized that God's people needed godly 21 00:01:15,000 --> 00:01:18,840 S2: advisors to help them be faithful stewards of his resources 22 00:01:18,840 --> 00:01:22,479 S2: so they might advance the kingdom. It's all based on 23 00:01:22,480 --> 00:01:26,760 S2: members who've earned the designation Certified Kingdom Advisor, or c 24 00:01:26,760 --> 00:01:32,680 S2: k a, the only industry designation for biblically wise financial advice. So, Sharon, 25 00:01:32,680 --> 00:01:34,800 S2: why don't we start today by giving you an opportunity 26 00:01:34,800 --> 00:01:37,480 S2: to explain exactly what is a c k? 27 00:01:37,800 --> 00:01:41,400 S3: Well, simply stated, a c k is a financial professional 28 00:01:41,400 --> 00:01:46,000 S3: who's passionate and qualified to help families and individuals make 29 00:01:46,080 --> 00:01:50,080 S3: faith based financial decisions. It means they've been biblically trained, 30 00:01:50,120 --> 00:01:54,720 S3: they've been professionally certified, and they can be financial planners, accountants, 31 00:01:54,720 --> 00:01:58,120 S3: investment professionals, insurance professionals and lawyers. 32 00:01:58,400 --> 00:02:04,200 S2: It's the highest credential in financial services for biblical financial advice. 33 00:02:04,200 --> 00:02:07,960 S2: And Sharon, you played a key role in the training 34 00:02:08,160 --> 00:02:12,720 S2: that undergirds the K designation. So explain what goes into that. 35 00:02:12,720 --> 00:02:15,300 S3: Well, we want you to know that they take 90 36 00:02:15,300 --> 00:02:19,600 S3: hours of study at the college level, finishing with a 37 00:02:19,600 --> 00:02:23,640 S3: five hour proctored exam, and they work through a case study. 38 00:02:23,639 --> 00:02:26,919 S3: That's a real family, Bob and Debbie, that they go 39 00:02:26,919 --> 00:02:30,480 S3: through planning decisions from a biblical worldview. 40 00:02:30,880 --> 00:02:33,760 S2: Mhm. Yeah. It really is key to not only helping 41 00:02:33,760 --> 00:02:38,200 S2: them establish their own personal convictions around financial decision making 42 00:02:38,200 --> 00:02:42,040 S2: through a biblical worldview, but applying that in the competent 43 00:02:42,040 --> 00:02:45,320 S2: financial advice that they're giving to clients every day and 44 00:02:45,320 --> 00:02:48,839 S2: sharing that 90 hours of study at the college level 45 00:02:48,840 --> 00:02:51,919 S2: is rigorous training. And, you know, we find that financial 46 00:02:51,919 --> 00:02:55,320 S2: professionals want to go through this because, well, c k 47 00:02:55,360 --> 00:02:59,840 S2: is highly valued in the industry, widely accepted across all 48 00:02:59,840 --> 00:03:04,320 S2: industry firms. They want to establish their own personal convictions. 49 00:03:04,440 --> 00:03:07,240 S2: They want to have an intentional process to bring this 50 00:03:07,240 --> 00:03:09,959 S2: into their advice and counsel. And of course, they want 51 00:03:10,000 --> 00:03:12,919 S2: to serve God's people and help them to be wise 52 00:03:12,919 --> 00:03:16,440 S2: and faithful stewards of all that God has entrusted to them. 53 00:03:16,480 --> 00:03:18,920 S2: And Sharon, I know one of the things you most 54 00:03:18,919 --> 00:03:22,680 S2: enjoy is hearing the stories from advisors who have gone 55 00:03:22,680 --> 00:03:27,880 S2: through the educational program, and how it's prepared them to 56 00:03:27,919 --> 00:03:30,359 S2: bring this into the client relationship. Do you have a 57 00:03:30,360 --> 00:03:31,359 S2: story you could share with us? 58 00:03:31,400 --> 00:03:34,079 S3: I've got a couple. One advisor recently wrote to us 59 00:03:34,080 --> 00:03:38,240 S3: and said, my practice is no longer just about financial acumen. 60 00:03:38,240 --> 00:03:42,320 S3: It's about integrating faith and finance, reshaping how I interact 61 00:03:42,320 --> 00:03:46,480 S3: with my clients. This shift towards a more holistic, face 62 00:03:46,480 --> 00:03:50,120 S3: centered approach is not only a testament to my professional growth, 63 00:03:50,120 --> 00:03:54,000 S3: but also to my deepening commitment to my faith. And 64 00:03:54,000 --> 00:03:56,920 S3: then another one said, becoming a k. A has been 65 00:03:56,920 --> 00:04:00,160 S3: more than an educational pursuit. It has been a catalyst 66 00:04:00,160 --> 00:04:04,640 S3: for spiritual growth and discernment. With each scripture memorized and 67 00:04:04,640 --> 00:04:07,920 S3: lesson learned, I've gained clarity on God's calling and purpose 68 00:04:07,920 --> 00:04:10,720 S3: for me as a leader and disciple maker. My hope 69 00:04:10,720 --> 00:04:13,400 S3: is that this journey will not only enrich my own life, 70 00:04:13,400 --> 00:04:15,920 S3: but also serve as a beacon of hope and guidance 71 00:04:15,920 --> 00:04:18,600 S3: for those I'm privileged to serve. Now, wouldn't you want 72 00:04:18,640 --> 00:04:20,919 S3: one of these advisors to be your advisor? 73 00:04:20,960 --> 00:04:26,040 S2: Absolutely. What an incredible opportunity for these advisors and for 74 00:04:26,040 --> 00:04:28,000 S2: the clients that they're serving. You know, one of my 75 00:04:28,000 --> 00:04:31,240 S2: favorite things is when I hear from advisors saying, Rob, 76 00:04:31,240 --> 00:04:35,200 S2: this changes everything. I'm now going to work differently than 77 00:04:35,200 --> 00:04:38,680 S2: I did previously. Sharon, as we wrap up today, for 78 00:04:38,680 --> 00:04:41,640 S2: somebody who's listening and saying, why should I choose a 79 00:04:41,640 --> 00:04:43,600 S2: certified Kingdom advisor, what would you say? 80 00:04:43,640 --> 00:04:46,360 S3: Well, remember that money is a tool and we want 81 00:04:46,400 --> 00:04:50,120 S3: to sharpen our skills with money. Using a professional who 82 00:04:50,120 --> 00:04:53,560 S3: counsels from the same biblical worldview. We want to be 83 00:04:53,560 --> 00:04:56,640 S3: faithful in our finances, and we want to be encouraged 84 00:04:56,640 --> 00:04:59,080 S3: by prayer and the Word of God. And that's what 85 00:04:59,120 --> 00:05:00,000 S3: cars do. 86 00:05:00,040 --> 00:05:02,119 S2: No doubt about it, folks. If you want to find 87 00:05:02,120 --> 00:05:04,880 S2: a certified Kingdom advisor in your area, just go to 88 00:05:04,920 --> 00:05:11,640 S2: find a.com. That's find a c.com. Sharon, thanks for being 89 00:05:11,640 --> 00:05:12,520 S2: with us today. 90 00:05:12,560 --> 00:05:13,440 S3: Glad to be here. 91 00:05:13,440 --> 00:05:17,080 S2: That's Sharon Epps, president of Kingdom Advisors, the parent organization 92 00:05:17,080 --> 00:05:20,200 S2: of faith fi. Just a quick reminder, we're not here today. 93 00:05:20,200 --> 00:05:22,039 S2: So don't call in. But we're going to head to 94 00:05:22,080 --> 00:05:24,840 S2: a break and much more coming just after this. Stay 95 00:05:24,839 --> 00:05:37,479 S2: with us. So glad to have you with us today 96 00:05:37,480 --> 00:05:40,919 S2: on Faith and Finance Live. Our team is away today, 97 00:05:40,920 --> 00:05:43,479 S2: so don't call in. But we lined up some great 98 00:05:43,480 --> 00:05:45,719 S2: questions in advance and we'll be going to those here 99 00:05:45,720 --> 00:05:48,360 S2: in just a moment. Let me also remind you that 100 00:05:48,360 --> 00:05:51,000 S2: the advice that I give each day on this program 101 00:05:51,000 --> 00:05:56,000 S2: is general in nature. We offer principles and ideas that 102 00:05:56,000 --> 00:05:59,360 S2: apply at a high level. They are not personalized. So 103 00:05:59,400 --> 00:06:03,120 S2: that's why you should always seek professional financial advice. And 104 00:06:03,200 --> 00:06:06,360 S2: if you'd like to find a professional who shares your values, 105 00:06:06,360 --> 00:06:09,120 S2: we of course here at Faith and Finance Live recommend 106 00:06:09,120 --> 00:06:12,680 S2: the Certified Kingdom Advisor designation. These are men and women 107 00:06:12,680 --> 00:06:15,840 S2: who've met high standards, and they've been trained to bring 108 00:06:15,839 --> 00:06:20,160 S2: a biblical worldview of financial decision making. You can find 1@faith.com. 109 00:06:20,560 --> 00:06:23,040 S2: Let's go to Mississippi, Miguel. Go ahead. 110 00:06:23,680 --> 00:06:25,480 S4: Thank you for taking my call. 111 00:06:25,520 --> 00:06:26,159 S2: Of course. 112 00:06:26,200 --> 00:06:30,400 S4: My quick question is I'm 60 years old. You know, 113 00:06:30,440 --> 00:06:34,000 S4: I've been giving my money as far as mortgage to 114 00:06:34,040 --> 00:06:37,320 S4: just companies. I don't I don't know nothing about. Um, 115 00:06:37,320 --> 00:06:41,200 S4: I'm getting ready to refinance hopefully this summer. How can 116 00:06:41,240 --> 00:06:46,400 S4: I find a biblically based faith based mortgage company? Is 117 00:06:46,400 --> 00:06:48,800 S4: there such a thing I can look up and see? 118 00:06:49,160 --> 00:06:49,640 S2: Yes, sir. 119 00:06:49,680 --> 00:06:52,080 S4: I mean, it's, uh. And I read if I'm going 120 00:06:52,080 --> 00:06:54,200 S4: to give, you know, some, you know, I can give 121 00:06:54,200 --> 00:06:57,799 S4: it to someone that can use for the kingdom of God, 122 00:06:57,839 --> 00:06:58,320 S4: you know? 123 00:06:58,520 --> 00:07:02,000 S2: Yes. So. Well, I, I'm so glad you asked because 124 00:07:02,000 --> 00:07:04,760 S2: more and more of our listeners are wanting to align 125 00:07:04,760 --> 00:07:11,960 S2: every facet of their lives with vendors, providers, organizations that 126 00:07:11,960 --> 00:07:14,240 S2: they do business with that align with their values as 127 00:07:14,240 --> 00:07:17,680 S2: Christ followers. So I certainly understand that. And that's why 128 00:07:17,680 --> 00:07:21,880 S2: we have, uh, sponsors here on faith and finance, and 129 00:07:21,920 --> 00:07:25,000 S2: we've handpicked each one of them that fits with each 130 00:07:25,000 --> 00:07:28,800 S2: category of what our listeners need, whether it's Christian credit 131 00:07:28,800 --> 00:07:32,560 S2: counselors on debt repayment or, uh, Christian community credit union 132 00:07:32,560 --> 00:07:36,120 S2: for a banking partner, or even tied in Crossmark and 133 00:07:36,120 --> 00:07:41,000 S2: Guidestone and others on faith based asset managers for investments. 134 00:07:41,000 --> 00:07:44,480 S2: And in the mortgage category, it's movement mortgage, um, you'll 135 00:07:44,480 --> 00:07:54,350 S2: find them@movement.com. That's movement.com/faith and the principles are all believers. Uh, 136 00:07:54,390 --> 00:07:58,870 S2: they started the company during the financial crisis. Interestingly, to 137 00:07:58,910 --> 00:08:01,990 S2: love people and serve God's people and also to take 138 00:08:01,990 --> 00:08:05,670 S2: a part of their profits. And they've started movement schools 139 00:08:05,670 --> 00:08:10,110 S2: all over the globe, uh, to help students in, uh, 140 00:08:10,110 --> 00:08:16,150 S2: areas where there's poverty or internationally where there's real poverty. Um, and, uh, 141 00:08:16,150 --> 00:08:19,470 S2: it's been incredible to watch how God has used movement 142 00:08:19,630 --> 00:08:22,830 S2: and the team there and what they have done. Um, 143 00:08:23,150 --> 00:08:26,310 S2: in the area of education. So, and all done in 144 00:08:26,310 --> 00:08:28,310 S2: the name of Jesus as well. So I think that 145 00:08:28,310 --> 00:08:31,990 S2: would be a great place to go. Movement, faith. Uh, 146 00:08:31,990 --> 00:08:34,510 S2: in terms of kind of your next steps, you know, 147 00:08:34,550 --> 00:08:38,670 S2: I think many lenders, uh, will do an initial quote 148 00:08:38,670 --> 00:08:41,309 S2: using a soft credit pull. I know you mentioned to 149 00:08:41,350 --> 00:08:44,030 S2: our call screener that you were curious about how do 150 00:08:44,030 --> 00:08:47,670 S2: you go forward without dinging your credit? Um, and, you know, 151 00:08:47,710 --> 00:08:51,350 S2: eventually you'll need a hard credit when you apply for 152 00:08:51,350 --> 00:08:55,510 S2: the firm loan approval. But you know, you can start there. 153 00:08:55,510 --> 00:08:58,230 S2: And I think, you know, having an initial conversation with 154 00:08:58,230 --> 00:09:00,190 S2: one of their loan officers will get you pointed in 155 00:09:00,190 --> 00:09:01,109 S2: the right direction. 156 00:09:01,830 --> 00:09:04,870 S4: Okay. Well, perfect. That's that's what I needed to know. Rob, 157 00:09:04,870 --> 00:09:05,830 S4: thank you so much. 158 00:09:05,870 --> 00:09:07,630 S2: All right. Lord bless you, Miguel. Thanks for being on 159 00:09:07,630 --> 00:09:10,189 S2: the program today. Let's go to Ohio. Michael, how can 160 00:09:10,190 --> 00:09:10,709 S2: I help? 161 00:09:11,230 --> 00:09:14,750 S5: Hi, Rob. Pleasure to meet you. Um, so, uh, my 162 00:09:14,750 --> 00:09:19,390 S5: wife and I are both self-employed. I've been self-employed since 2012. 163 00:09:19,429 --> 00:09:24,469 S5: She's been since 2017. Uh, annually. It looks like the 164 00:09:24,670 --> 00:09:29,310 S5: her company nets probably around 3 to 3.5 million a year. Me? 165 00:09:29,350 --> 00:09:34,750 S5: Probably around 700,000 to 1 million a year. Um, or that's, uh, 166 00:09:34,750 --> 00:09:36,550 S5: that's gross. I'm sorry. That's gross. 167 00:09:36,670 --> 00:09:37,069 S2: Sure. 168 00:09:37,110 --> 00:09:39,790 S5: Uh, so right now, what we've done is, uh, there's 169 00:09:39,790 --> 00:09:41,630 S5: been a lot going into trying to grow the business. 170 00:09:41,630 --> 00:09:43,830 S5: And we've, we've tried to put most of the efforts 171 00:09:43,830 --> 00:09:46,030 S5: and focus on investing in her company because she has 172 00:09:46,030 --> 00:09:49,790 S5: a healthcare agency that? Uh. Um, you know, there's a 173 00:09:49,790 --> 00:09:53,910 S5: lot of opportunity there. So, and trying to, and probably 174 00:09:53,950 --> 00:09:58,470 S5: trying to shift focus into, into, into her company. But, um, so, 175 00:09:58,470 --> 00:10:02,670 S5: so I've, I've kind of invested in her company so much, uh, over, 176 00:10:02,710 --> 00:10:05,510 S5: you know, the seven years there's been some decisions financially 177 00:10:05,510 --> 00:10:08,590 S5: that I didn't agree with that were made anyway. So 178 00:10:08,630 --> 00:10:10,790 S5: at this point in time, there's been weekly loans, a 179 00:10:10,830 --> 00:10:13,630 S5: lot of loans and everything that has gone on that 180 00:10:13,630 --> 00:10:17,990 S5: we are over our head in debt and things are 181 00:10:17,990 --> 00:10:23,710 S5: backing up. Credit is suffering. And, uh, and my company 182 00:10:23,710 --> 00:10:26,589 S5: at this point now is, is taking is I can't 183 00:10:26,590 --> 00:10:30,750 S5: really kind of bear the, the weight of, of our 184 00:10:30,750 --> 00:10:36,469 S5: personal bills also helping supplement some income to that company. Um, 185 00:10:36,750 --> 00:10:39,870 S5: and so it's just, it's very, it's very difficult. I'm 186 00:10:39,870 --> 00:10:41,870 S5: not really sure what to do. I don't have a 187 00:10:41,870 --> 00:10:45,189 S5: good answer right now. We have a family, seven kids 188 00:10:45,190 --> 00:10:49,430 S5: in the house. Um, and so I guess I'm just 189 00:10:49,429 --> 00:10:53,270 S5: kind of looking if you have any, um, suggestions. You know, 190 00:10:53,309 --> 00:10:55,589 S5: as far as bankruptcy or what route to go here, 191 00:10:55,630 --> 00:10:59,110 S5: you know, with, with her company. 3.5 million a year. There's, 192 00:10:59,110 --> 00:11:02,310 S5: there's a lot of opportunity, but it just hasn't. We 193 00:11:02,309 --> 00:11:03,870 S5: haven't been able to catch up. 194 00:11:04,110 --> 00:11:07,670 S2: Yeah. Yeah. Well, I, I appreciate the question. And I think. 195 00:11:07,710 --> 00:11:09,150 S2: First of all, you guys need to be on the 196 00:11:09,150 --> 00:11:12,150 S2: same page here. Uh, second of all, I think it 197 00:11:12,150 --> 00:11:14,309 S2: is time. And I hear this in your voice by 198 00:11:14,309 --> 00:11:16,550 S2: virtue of even you calling today, it's time to be 199 00:11:16,550 --> 00:11:20,110 S2: honest about where we're at and then make perhaps some 200 00:11:20,110 --> 00:11:25,630 S2: hard decisions moving forward, because $3 million in gross revenue 201 00:11:25,670 --> 00:11:29,429 S2: doesn't equal profitability. And so if a, if the business 202 00:11:29,429 --> 00:11:34,630 S2: is consistently cashflow negative, you know, revenue growth alone won't 203 00:11:34,630 --> 00:11:38,550 S2: fix it. Uh, and, you know, with this mounting debt, 204 00:11:38,590 --> 00:11:42,030 S2: you know, that's going to continue to become problematic. Um, 205 00:11:42,030 --> 00:11:45,390 S2: with regard to the debt, are there personal guarantees on everything. 206 00:11:45,870 --> 00:11:50,230 S5: Yes, I would say there's definitely some guarantees attached. Yeah. Reliability. 207 00:11:50,270 --> 00:11:53,590 S2: Yeah. So that means it's not just a business decision. 208 00:11:53,590 --> 00:11:55,590 S2: This is going to affect your home and your savings 209 00:11:55,590 --> 00:11:58,469 S2: and your future income. And so obviously there's a lot 210 00:11:58,470 --> 00:12:01,150 S2: more exposure there when that's the case. Um, you know, 211 00:12:01,190 --> 00:12:04,350 S2: I think the first question is, is either business viable 212 00:12:04,350 --> 00:12:06,790 S2: if debt is restructured? You know, if the business had 213 00:12:06,790 --> 00:12:10,790 S2: no debt payments, would it generate positive cash flow? And 214 00:12:10,830 --> 00:12:14,470 S2: sounds like the answer is yes. And if so, restructuring 215 00:12:14,710 --> 00:12:17,910 S2: may work. Um, you know, I think we need to 216 00:12:17,910 --> 00:12:22,429 S2: look at all options, including perhaps debt restructuring and workouts 217 00:12:22,429 --> 00:12:25,829 S2: where you'd negotiate with the lender, extend terms. You need 218 00:12:25,830 --> 00:12:29,309 S2: to do some operational triage where you have brutal honesty 219 00:12:29,350 --> 00:12:31,949 S2: and say, okay, what do we need to cut? How 220 00:12:31,950 --> 00:12:34,510 S2: do we reduce payroll if that's even an issue? Maybe 221 00:12:34,510 --> 00:12:36,829 S2: it's not. Maybe it's just, you know, the two of you, 222 00:12:37,190 --> 00:12:39,390 S2: what do we need to do to, to if there's 223 00:12:39,390 --> 00:12:41,910 S2: any assets in the business, you know, sell those off. 224 00:12:41,910 --> 00:12:44,270 S2: Do we need to shut down one business to save 225 00:12:44,270 --> 00:12:47,870 S2: the other. You know, two distressed businesses often end up 226 00:12:47,870 --> 00:12:51,510 S2: in two bankruptcies. So saving one and maybe it's hers. 227 00:12:51,550 --> 00:12:54,209 S2: I don't know, it could go either way. Saving 1st 228 00:12:54,210 --> 00:12:58,350 S2: May require sacrificing the other. Um, and so I think, 229 00:12:58,390 --> 00:13:02,510 S2: you know, that's really key. Um, and that's often the 230 00:13:02,510 --> 00:13:06,990 S2: most painful, but the wisest decision, uh, bankruptcy can make sense, 231 00:13:06,990 --> 00:13:09,710 S2: but obviously, we certainly would want to try to avoid 232 00:13:09,710 --> 00:13:13,470 S2: that at all costs. And so, you know, I think, uh, 233 00:13:13,470 --> 00:13:17,390 S2: the next step here is to perhaps get with an advisor, 234 00:13:17,390 --> 00:13:21,790 S2: perhaps a CPA or a turnaround advisor, somebody who could 235 00:13:21,790 --> 00:13:24,510 S2: really come in and provide a fresh perspective on this 236 00:13:24,510 --> 00:13:28,870 S2: business to evaluate what's there and help you make without, 237 00:13:28,910 --> 00:13:32,590 S2: you know, some of the cloudiness of your own emotional, 238 00:13:32,790 --> 00:13:35,990 S2: you know, connections to these businesses and the, you know, blood, 239 00:13:35,990 --> 00:13:38,990 S2: sweat and tears that you've put into them. Having somebody 240 00:13:38,990 --> 00:13:41,670 S2: just look and take an honest look at where these 241 00:13:41,670 --> 00:13:46,309 S2: businesses stand and you know what needs to be eliminated? 242 00:13:46,550 --> 00:13:49,390 S2: Maybe one of them gets shut down. Maybe we do 243 00:13:49,390 --> 00:13:52,310 S2: a workout, you know, with the lenders, but we need 244 00:13:52,309 --> 00:13:54,830 S2: to get you on a path toward financial health. And 245 00:13:54,830 --> 00:13:57,590 S2: it sounds like the problems are just continuing them out. 246 00:13:57,590 --> 00:14:00,950 S2: And that's going to force your hand into bankruptcy. And 247 00:14:00,950 --> 00:14:04,550 S2: so I think, you know, finding that CPA, maybe you 248 00:14:04,550 --> 00:14:07,230 S2: call a local certified Kingdom advisor and ask for a 249 00:14:07,230 --> 00:14:10,790 S2: referral to a CPA who has some real experience with 250 00:14:10,790 --> 00:14:15,070 S2: small businesses and accounting and analyzing where these businesses stand. 251 00:14:15,070 --> 00:14:17,949 S2: And to find that person there in Ohio, I'd go 252 00:14:17,950 --> 00:14:22,550 S2: to find a.com and then ask for that referral. Let's 253 00:14:22,550 --> 00:14:23,910 S2: do this. I've got to take a break. You and 254 00:14:23,910 --> 00:14:25,230 S2: I will talk a bit more off the air. I 255 00:14:25,230 --> 00:14:26,910 S2: want to see if you have any questions. We'll be 256 00:14:26,910 --> 00:14:27,470 S2: right back. 257 00:14:37,190 --> 00:14:38,990 S6: Hey, it's great to have you with us on Faith 258 00:14:38,990 --> 00:14:42,430 S6: and Finance Live. But today we are pre-recorded and we 259 00:14:42,430 --> 00:14:45,550 S6: won't be taking your calls. However, we've lined up some 260 00:14:45,550 --> 00:14:48,430 S6: calls in advance that we think you'll find helpful, so 261 00:14:48,470 --> 00:14:51,230 S6: stay tuned and enjoy the rest of the program. 262 00:14:52,750 --> 00:14:54,990 S2: Let's go to Philadelphia. Hi, John. How can I help? 263 00:14:56,350 --> 00:15:01,910 S7: Uh, I got a question about, um, when should I 264 00:15:01,950 --> 00:15:06,830 S7: back off from my 41K. As far as, uh, aggressive 265 00:15:06,830 --> 00:15:13,870 S7: versus conservative, um, a little background. I am a debt free, uh, 266 00:15:13,870 --> 00:15:19,430 S7: we own our house outright. Um, so, uh, I make 267 00:15:19,470 --> 00:15:27,110 S7: roughly 110, 120,000 depending on the year. Um, for the 268 00:15:27,110 --> 00:15:32,830 S7: last four years, I've maxed out my 41K, um, every year. 269 00:15:32,990 --> 00:15:35,750 S7: So I'm just trying to figure out when should I 270 00:15:36,990 --> 00:15:41,070 S7: back off on the and go more conservative. 271 00:15:41,110 --> 00:15:44,030 S2: Yeah, yeah, it's a great question. Um, what is your 272 00:15:44,030 --> 00:15:44,830 S2: age right now? 273 00:15:46,190 --> 00:15:48,430 S7: I'm 55. Going on 56. 274 00:15:48,590 --> 00:15:53,550 S2: Okay, great. And just as you think about your roadmap here, John, 275 00:15:53,590 --> 00:15:57,550 S2: you know, do you have, uh, a date or a 276 00:15:57,590 --> 00:16:01,310 S2: time horizon around which you might transition to what God 277 00:16:01,310 --> 00:16:04,110 S2: has next for you, that might involve you taking either 278 00:16:04,110 --> 00:16:07,750 S2: a reduction or, uh, in pay or your pay going 279 00:16:07,790 --> 00:16:08,790 S2: away altogether. 280 00:16:09,710 --> 00:16:15,030 S7: No, I, I know that, um, a year from now, 281 00:16:15,230 --> 00:16:19,830 S7: I know that I'll be, uh, I drive truck, so. Okay, 282 00:16:19,870 --> 00:16:22,230 S7: a year from now, my plan is to be home 283 00:16:22,230 --> 00:16:26,030 S7: a lot more. Okay. Um, so that might take me 284 00:16:26,070 --> 00:16:31,150 S7: down to 75,000 a year. Okay. That's my guess. Um, 285 00:16:32,110 --> 00:16:34,870 S7: but still, you know, I mean, it's still a very, 286 00:16:34,870 --> 00:16:36,550 S7: very good wage. Yeah. 287 00:16:36,790 --> 00:16:39,190 S2: And so I would imagine just because you're debt free. Which, 288 00:16:39,190 --> 00:16:42,750 S2: by the way, congratulations. That's amazing. Uh, you would still 289 00:16:42,790 --> 00:16:45,670 S2: be able to cover all of your expenses without dipping 290 00:16:45,670 --> 00:16:48,150 S2: into any of your savings or investments. 291 00:16:49,750 --> 00:16:54,310 S7: Correct? Yeah. Because we, we got our, uh, we have our, um, 292 00:16:54,710 --> 00:16:57,750 S7: expenses down, I should say. My wife, I mean, she 293 00:16:57,750 --> 00:17:01,550 S7: does such a great job. Um, she's got it just 294 00:17:01,550 --> 00:17:06,710 S7: right under $500, uh, a week. Okay. That's, uh, she 295 00:17:06,710 --> 00:17:16,710 S7: pulled that's money for all of our bills, including our, um, uh, health, 296 00:17:16,750 --> 00:17:17,510 S7: health care. 297 00:17:17,950 --> 00:17:19,750 S2: Excellent. Yeah. Very good. 298 00:17:19,830 --> 00:17:23,230 S7: Anyway, yeah. So yeah, she's got it down very, very, 299 00:17:23,230 --> 00:17:24,590 S7: very reasonable. 300 00:17:24,990 --> 00:17:26,989 S2: I love that. Well, it sounds like she's doing a 301 00:17:26,990 --> 00:17:29,550 S2: fabulous job and and you are as well. You guys 302 00:17:29,550 --> 00:17:33,270 S2: have a good rhythm going here. Um, in terms of 303 00:17:33,310 --> 00:17:35,950 S2: what you're going to need in retirement, it sounds like 304 00:17:35,950 --> 00:17:39,190 S2: you probably could just continue to roll on like that. 305 00:17:39,230 --> 00:17:43,270 S2: You know, living very modestly. Um, and so, uh, you know, 306 00:17:43,310 --> 00:17:45,230 S2: that will make it a lot easier to balance the 307 00:17:45,270 --> 00:17:48,990 S2: budget even once you decide, you know, to maybe stop 308 00:17:48,990 --> 00:17:53,350 S2: driving altogether and, and focus your time and energy elsewhere. Uh, 309 00:17:53,350 --> 00:17:55,190 S2: how much have you been able to accumulate in your 310 00:17:55,190 --> 00:17:56,070 S2: 401 K. 311 00:17:57,470 --> 00:18:01,109 S7: Well, we have, uh, right at 250,000. 312 00:18:01,270 --> 00:18:03,990 S2: Okay. And do you have any other investable assets? 313 00:18:05,070 --> 00:18:14,310 S7: Yes we do. Um, altogether we're right at, uh, three, 360. 314 00:18:14,350 --> 00:18:16,669 S7: I think it is 365 somewhere. 315 00:18:16,710 --> 00:18:19,670 S2: Excellent. Yeah. And that includes, of course, the 401 K, right. 316 00:18:20,270 --> 00:18:21,030 S7: Correct. 317 00:18:21,070 --> 00:18:23,869 S2: Correct. And what percent does your company match? 318 00:18:25,230 --> 00:18:26,950 S7: Uh, 25%. 319 00:18:27,910 --> 00:18:28,310 S2: Which is. 320 00:18:28,910 --> 00:18:31,270 S7: Absolutely, absolutely crazy. 321 00:18:31,310 --> 00:18:31,630 S2: So they. 322 00:18:31,630 --> 00:18:32,030 S7: Do it. 323 00:18:32,390 --> 00:18:34,949 S2: But, uh, that's incredible. Let me make sure I understand 324 00:18:34,950 --> 00:18:36,909 S2: what you're saying though. So they'll give you a dollar 325 00:18:36,950 --> 00:18:40,350 S2: for dollar up to 25% of your pay, or they 326 00:18:40,350 --> 00:18:42,710 S2: give you a quarter for every dollar you put in. 327 00:18:43,710 --> 00:18:45,629 S7: Quarter for every dollar I put in. 328 00:18:45,670 --> 00:18:48,270 S2: Okay. Got it. And that's unlimited or up to a 329 00:18:48,270 --> 00:18:49,030 S2: certain amount. 330 00:18:50,150 --> 00:18:54,350 S7: Up to the max. The 31,000 I put in there. 331 00:18:54,390 --> 00:18:55,109 S2: Okay, great. 332 00:18:55,150 --> 00:19:00,670 S7: Yeah, I put in 31,000. They put in 7750 last year. 333 00:19:00,670 --> 00:19:04,470 S2: Yeah. That's incredible. Yeah. So take full advantage of that obviously. 334 00:19:04,510 --> 00:19:07,350 S2: Or did you say you are currently maxing that out. 335 00:19:08,390 --> 00:19:09,230 S7: Yes. 336 00:19:09,390 --> 00:19:10,149 S2: Okay. Great. 337 00:19:10,190 --> 00:19:13,390 S7: Yes. As well as a 2% profit sharing every year, 338 00:19:13,390 --> 00:19:15,590 S7: which comes out to about 3000. 339 00:19:15,869 --> 00:19:18,990 S2: Okay. Got it. Yeah. So obviously, if you were to put, 340 00:19:19,030 --> 00:19:21,109 S2: you know, just continue on that track for the next 341 00:19:21,109 --> 00:19:24,229 S2: ten years plus the growth in the market, I mean, 342 00:19:24,270 --> 00:19:27,190 S2: you guys are going to be pushing $1 million. Uh, 343 00:19:27,270 --> 00:19:29,830 S2: I would imagine somewhere between, you know, at least eight 344 00:19:29,869 --> 00:19:34,510 S2: and 900,000, if not more, uh, just because the contributions 345 00:19:34,590 --> 00:19:39,750 S2: alone over a decade would be about another 350,000. You know, 346 00:19:39,790 --> 00:19:42,750 S2: on top of what you've already got. So that's 700,000. 347 00:19:42,790 --> 00:19:45,670 S2: If we were to have ten years of market appreciation, 348 00:19:45,710 --> 00:19:49,750 S2: you know, you could have 900,000 plus. So I think 349 00:19:49,750 --> 00:19:53,030 S2: the key for you is to define enough because you know, 350 00:19:53,070 --> 00:19:56,670 S2: you've already decided what your lifestyle enough is. Now, you 351 00:19:56,670 --> 00:19:58,350 S2: may want to spend a little bit more in this 352 00:19:58,350 --> 00:19:59,950 S2: next season of life. I don't know whether you have 353 00:19:59,950 --> 00:20:03,630 S2: kids and or grandkids, but you know, there's obviously some 354 00:20:03,630 --> 00:20:06,110 S2: spending that can go up there. You guys may want 355 00:20:06,150 --> 00:20:08,710 S2: to travel a bit or, you know, you may have 356 00:20:08,750 --> 00:20:12,149 S2: an increasing medical expenses. But the reality is most people 357 00:20:12,150 --> 00:20:16,670 S2: live on 70 to 80% of their pre-retirement income. And so, 358 00:20:16,710 --> 00:20:19,030 S2: you know, you guys may be just fine on on 359 00:20:19,070 --> 00:20:22,310 S2: Social Security alone, but you're obviously going to have a 360 00:20:22,310 --> 00:20:25,990 S2: sizable nest egg if you continue to move in this direction. 361 00:20:26,030 --> 00:20:29,270 S2: You know, I would say at this point, typically, I 362 00:20:29,270 --> 00:20:35,350 S2: would say you'd want more like a 6040 portfolio at 55, 60% and, 363 00:20:35,390 --> 00:20:40,109 S2: you know, a good diversified stock, uh, investment and then 40% 364 00:20:40,109 --> 00:20:44,270 S2: in fixed income because you're on track to, I think, 365 00:20:44,510 --> 00:20:48,350 S2: over accumulate just based on how modestly you're living. And 366 00:20:48,350 --> 00:20:51,869 S2: the fact that when social Security, you know, plus, you know, 367 00:20:51,869 --> 00:20:55,030 S2: if you were to take a 4% withdrawal rate on 900,000, 368 00:20:55,070 --> 00:20:57,310 S2: and I'm assuming you're planning to work and be able 369 00:20:57,310 --> 00:21:00,270 S2: to contribute, you know, 35,000 a year for the next 370 00:21:00,270 --> 00:21:02,510 S2: ten years. And you may say, no, I'm not planning 371 00:21:02,510 --> 00:21:05,630 S2: on that. But let's say you did get to 900,000. 372 00:21:05,670 --> 00:21:08,990 S2: I mean, 4% a year is 36,000 before you even 373 00:21:09,030 --> 00:21:12,110 S2: touch your Social Security. And you're not going to need 374 00:21:12,109 --> 00:21:14,990 S2: that much. Um, so I think, you know, you may 375 00:21:14,990 --> 00:21:17,109 S2: even want to go to a 50 over 50 mix 376 00:21:17,109 --> 00:21:22,070 S2: right now, 50% in stocks, um, and 50% in more 377 00:21:22,070 --> 00:21:26,070 S2: fixed income type mutual funds inside that 401 K. But 378 00:21:26,070 --> 00:21:27,310 S2: give me your thoughts on that. 379 00:21:27,910 --> 00:21:31,910 S7: No, no, that sounds right up. What uh, what I 380 00:21:31,980 --> 00:21:36,460 S7: was thinking. Uh, you know, the and truly, the whole 381 00:21:36,460 --> 00:21:39,820 S7: investing is somewhat new. I've only been doing it about 382 00:21:39,820 --> 00:21:42,980 S7: 7 or 8 years. Okay. Um, so. 383 00:21:43,900 --> 00:21:46,580 S2: Um, let's do this. Let's you and I finish off 384 00:21:46,580 --> 00:21:48,420 S2: the air because I'm headed up to a break here 385 00:21:48,420 --> 00:21:50,220 S2: that I've got to take, but I want to chat 386 00:21:50,220 --> 00:21:52,420 S2: just a bit more about that piece of it. So 387 00:21:52,420 --> 00:21:55,180 S2: stay right there. John, more of your questions after this. 388 00:21:55,180 --> 00:22:09,660 S2: Stay with us. This is Faith and Finance Live, helping 389 00:22:09,660 --> 00:22:13,260 S2: you apply God's wisdom to your financial decisions and choices. 390 00:22:13,260 --> 00:22:15,540 S2: I'm Rob West. Hey, we're not able to be here 391 00:22:15,540 --> 00:22:18,660 S2: today to take your calls live, but we did line 392 00:22:18,660 --> 00:22:20,820 S2: up some great calls in advance. We'll get to those 393 00:22:20,820 --> 00:22:23,100 S2: in just a moment. But first, let me remind you 394 00:22:23,100 --> 00:22:25,460 S2: to check out the Faith V app. Julie and I 395 00:22:25,460 --> 00:22:28,380 S2: use it every day. It's the only way we can 396 00:22:28,380 --> 00:22:31,140 S2: stay on budget because at any point during the month, 397 00:22:31,140 --> 00:22:34,660 S2: we can see what's left in each of our spending categories. 398 00:22:34,660 --> 00:22:38,060 S2: We call them envelopes. It's based on Larry Burkett's tried 399 00:22:38,060 --> 00:22:41,139 S2: and true envelope system. It might be just what you're 400 00:22:41,140 --> 00:22:43,780 S2: looking for to stay on budget and have some margin 401 00:22:43,780 --> 00:22:45,060 S2: at the end of the month to be able to 402 00:22:45,100 --> 00:22:49,340 S2: fund your goals. Check it out@faith.com. Just click app or 403 00:22:49,340 --> 00:22:51,980 S2: go straight to your app store and search for faith 404 00:22:51,980 --> 00:22:55,260 S2: by faith and finance. All right, let's head back to 405 00:22:55,300 --> 00:22:58,420 S2: the phones. I had a chance to visit a bit 406 00:22:58,420 --> 00:23:02,420 S2: more with our previous caller, John, and we talked about, 407 00:23:02,460 --> 00:23:04,980 S2: you know, the fact that he was had started a 408 00:23:04,980 --> 00:23:08,820 S2: little bit late in, uh, in saving for the long term. 409 00:23:08,820 --> 00:23:11,859 S2: And yet, uh, you know, because of the things he's done, 410 00:23:11,900 --> 00:23:14,660 S2: I mean, they have prioritized getting out of debt completely, 411 00:23:14,660 --> 00:23:18,139 S2: including their home. They're living modestly. He said, you know, 412 00:23:18,180 --> 00:23:21,300 S2: my wife has us down to $500 a week. And we're, 413 00:23:21,340 --> 00:23:24,740 S2: you know, just being really thoughtful about how we're spending 414 00:23:24,740 --> 00:23:28,020 S2: God's money and they're saving and taking full advantage of 415 00:23:28,020 --> 00:23:31,660 S2: a generous Retirement plan available through his work, not only 416 00:23:31,660 --> 00:23:34,820 S2: in a 401 K, but also with some profit sharing. 417 00:23:34,820 --> 00:23:37,140 S2: They're going to have more than they need. And so 418 00:23:37,140 --> 00:23:40,220 S2: what an opportunity to say, God, how can we use 419 00:23:40,220 --> 00:23:43,139 S2: this and steward this wisely to prepare for this next 420 00:23:43,140 --> 00:23:46,140 S2: season of life, so we can maintain this lifestyle that 421 00:23:46,140 --> 00:23:49,100 S2: we believe you've called us to, but also so we 422 00:23:49,100 --> 00:23:52,179 S2: can give generously. And one of the things I shared 423 00:23:52,180 --> 00:23:55,020 S2: with John off the air was, you know, this would 424 00:23:55,020 --> 00:23:57,820 S2: be a great time for a certified kingdom advisor to 425 00:23:57,859 --> 00:24:01,820 S2: be introduced to the mix here, not to take over 426 00:24:01,820 --> 00:24:05,580 S2: the management, because there's just a small menu of investment 427 00:24:05,580 --> 00:24:09,540 S2: options in that 401 K, but perhaps to look them over, 428 00:24:09,540 --> 00:24:13,500 S2: advise him on are you in the right things and 429 00:24:13,500 --> 00:24:16,180 S2: help them do a financial plan to decide what is 430 00:24:16,180 --> 00:24:19,740 S2: their finish line for accumulation? And then also, are there 431 00:24:19,740 --> 00:24:23,420 S2: any things they're missing with regard to estate planning or 432 00:24:23,460 --> 00:24:28,580 S2: tax mitigation or anything like that? Um, and then eventually 433 00:24:28,580 --> 00:24:31,619 S2: hiring an advisor to take over management of these assets 434 00:24:31,660 --> 00:24:34,300 S2: once he separates from his employer. And he can roll 435 00:24:34,300 --> 00:24:37,300 S2: this out to an IRA. By the way, if you'd 436 00:24:37,300 --> 00:24:39,860 S2: like to find a certified Kingdom advisor in your area, 437 00:24:39,900 --> 00:24:42,619 S2: like who will be checking on, you can go to 438 00:24:42,660 --> 00:24:46,460 S2: find a c.com. All right, let's head back to the phones. 439 00:24:46,460 --> 00:24:48,340 S2: Let's go to Ohio. Cathy. Go ahead. 440 00:24:49,340 --> 00:24:49,740 S5: Hi. 441 00:24:50,700 --> 00:24:53,300 S2: Hi. So glad you called today. How can I help you? 442 00:24:53,340 --> 00:24:58,940 S8: Yes, I am recently widowed and I am trying to 443 00:24:58,980 --> 00:25:03,620 S8: figure out how I can help grow. What would be 444 00:25:03,619 --> 00:25:06,300 S8: left after I pay the bills. What would be left 445 00:25:06,300 --> 00:25:07,900 S8: of the insurance money? 446 00:25:08,340 --> 00:25:12,260 S2: Yes. Well, I am so sorry to hear about your loss, Cathy, 447 00:25:12,260 --> 00:25:15,340 S2: and I'm so glad you called today. I'm delighted to 448 00:25:15,380 --> 00:25:19,700 S2: speak to you. Um, I have a few thoughts and, um, 449 00:25:19,700 --> 00:25:21,260 S2: and then we can talk about kind of where you 450 00:25:21,260 --> 00:25:24,700 S2: go from here. You know, I think the first thing 451 00:25:24,980 --> 00:25:29,139 S2: after any kind of major life event, especially with a 452 00:25:29,140 --> 00:25:33,820 S2: recent loss, is not to rush into anything. And just 453 00:25:33,820 --> 00:25:37,020 S2: to go slow and take your time, perhaps with the 454 00:25:37,020 --> 00:25:40,460 S2: funds that are coming in. Park those temporarily in a 455 00:25:40,500 --> 00:25:43,500 S2: in a high yield savings or a money market account, 456 00:25:43,500 --> 00:25:47,900 S2: something that's going to give you safety and liquidity safety 457 00:25:47,900 --> 00:25:51,179 S2: coming from, let's say, FDIC insurance and a in a 458 00:25:51,180 --> 00:25:54,859 S2: bank product where the government is, is backing it and 459 00:25:54,859 --> 00:25:58,500 S2: you're going to get a decent rate of return. Today, 460 00:25:58,500 --> 00:26:02,180 S2: you could find something at around 4%. And, you know, 461 00:26:02,220 --> 00:26:05,060 S2: we don't want to make a lot of big decisions 462 00:26:05,060 --> 00:26:07,180 S2: at this point. And then the second step is really 463 00:26:07,180 --> 00:26:10,420 S2: to clarify the purpose of the money. Do you need 464 00:26:10,420 --> 00:26:15,179 S2: monthly income or is Social Security or some other retirement 465 00:26:15,180 --> 00:26:20,820 S2: account already covering expenses? Are there large upcoming needs that 466 00:26:20,820 --> 00:26:24,619 S2: you need to be planning for? And, you know, typically 467 00:26:24,859 --> 00:26:28,220 S2: in this season of life, the goal is usually reliable 468 00:26:28,220 --> 00:26:32,980 S2: income preservation of the principal. So trying to hang on 469 00:26:33,300 --> 00:26:35,500 S2: to what you know comes in in terms of the 470 00:26:35,500 --> 00:26:40,419 S2: principal payout from that insurance benefit and then being aware 471 00:26:40,420 --> 00:26:43,740 S2: of inflation, the idea that things, you know, rise in 472 00:26:43,740 --> 00:26:47,260 S2: cost over time. And so we need to offset that 473 00:26:47,260 --> 00:26:52,820 S2: with whatever investments, even very conservative investments. But whatever investments 474 00:26:53,020 --> 00:26:56,260 S2: you take advantage of, you know, we want to make 475 00:26:56,300 --> 00:26:59,700 S2: sure we're offsetting the effects of inflation. So this money 476 00:26:59,700 --> 00:27:03,380 S2: needs to be growing slightly, even though you perhaps are 477 00:27:03,380 --> 00:27:07,700 S2: tapping into it to withdrawal. And then at that point, 478 00:27:07,740 --> 00:27:10,900 S2: you know, we would put a simple investment structure in place. 479 00:27:11,300 --> 00:27:13,100 S2: You know, I like to think about it as maybe 480 00:27:13,140 --> 00:27:18,050 S2: three buckets. Bucket one is your safety bucket. It's 1 481 00:27:18,050 --> 00:27:22,180 S2: to 3 years of expenses that would stay in maybe 482 00:27:22,220 --> 00:27:26,340 S2: CDs or treasuries or a high yield savings account. Bucket 483 00:27:26,380 --> 00:27:29,420 S2: two would be your income bucket. And this is what's 484 00:27:29,460 --> 00:27:34,700 S2: generating income that could help to, you know, supplement, let's 485 00:27:34,700 --> 00:27:38,580 S2: say a survivor's benefit on Social Security. And then bucket three, 486 00:27:38,580 --> 00:27:41,300 S2: which would be a portion of that investment would be 487 00:27:41,300 --> 00:27:44,940 S2: the growth bucket. And yes, even at age 65, you 488 00:27:44,940 --> 00:27:49,020 S2: would want some growth, to my point earlier to combat 489 00:27:49,020 --> 00:27:52,659 S2: what's called longevity risk. The idea that you could live 490 00:27:52,700 --> 00:27:56,780 S2: outlive your money and inflation. And we don't want to 491 00:27:56,780 --> 00:28:01,540 S2: go 100% all conservative because you're going to slowly lose 492 00:28:01,540 --> 00:28:04,899 S2: purchasing power. Um, and then I would say the last 493 00:28:04,900 --> 00:28:09,379 S2: thing would be, you know, to find a group of 494 00:28:09,420 --> 00:28:12,859 S2: people or maybe a couple of folks, friends or family 495 00:28:12,859 --> 00:28:16,260 S2: members that could be maybe a board of advisors, people 496 00:28:16,260 --> 00:28:20,419 S2: that could journey alongside you, that could be, you know, trusted, 497 00:28:20,420 --> 00:28:23,619 S2: wise counsel. And I think as a part of that, 498 00:28:23,619 --> 00:28:27,820 S2: an advisor, I would recommend a certified Kingdom advisor, somebody 499 00:28:27,820 --> 00:28:30,860 S2: who's a trusted what's called fiduciary, which means they have 500 00:28:30,859 --> 00:28:33,660 S2: to put your interests above their own, who could walk 501 00:28:33,660 --> 00:28:38,260 S2: alongside you to help you make these decisions, help you 502 00:28:38,260 --> 00:28:41,100 S2: implement the plan that you believe you know God is 503 00:28:41,100 --> 00:28:44,180 S2: leading you to in terms of what this next season holds. 504 00:28:44,340 --> 00:28:48,500 S2: And actually help you deploy the investments. And, you know, 505 00:28:48,540 --> 00:28:51,780 S2: address the tax side of it as well. Um, as 506 00:28:51,780 --> 00:28:55,220 S2: a part of, you know, implementing the things I just described, 507 00:28:55,220 --> 00:28:58,460 S2: but let me stop there and get any questions or 508 00:28:58,540 --> 00:28:59,940 S2: follow up thoughts you have. 509 00:29:00,460 --> 00:29:03,980 S8: Okay. I, you know, I think it's good advice and 510 00:29:04,020 --> 00:29:09,740 S8: I am very new to, um, any investing. I have 511 00:29:09,740 --> 00:29:16,220 S8: a $3,500 CD. Okay. Um, so that's all I have 512 00:29:16,260 --> 00:29:20,340 S8: in investing. I don't understand it very well. Yes, ma'am. 513 00:29:20,380 --> 00:29:23,820 S8: So I kind of haven't done anything because I don't 514 00:29:23,820 --> 00:29:27,420 S8: understand it, but I'm trying to learn about how I 515 00:29:27,420 --> 00:29:32,020 S8: can grow this money. Um, you know, also to just 516 00:29:32,060 --> 00:29:35,780 S8: be able to, you know, further, further, uh, giving to 517 00:29:35,780 --> 00:29:39,940 S8: the kingdom of God, you know. Yes, ma'am. I, um, yeah. 518 00:29:40,500 --> 00:29:42,500 S2: How much do you have coming your way from the 519 00:29:42,500 --> 00:29:44,780 S2: insurance proceeds, if you don't mind me asking. 520 00:29:45,220 --> 00:29:50,500 S8: Um, I think 21,000, that's all there is. And, um, 521 00:29:50,740 --> 00:29:55,700 S8: I did not get my husband's attention because when he retired, 522 00:29:55,700 --> 00:29:59,620 S8: it was so little. His pension was so little that 523 00:29:59,660 --> 00:30:03,300 S8: in order to get the full, you know, amount that 524 00:30:03,300 --> 00:30:07,420 S8: could help us monthly, I had to surrender the death benefit. 525 00:30:07,460 --> 00:30:08,820 S2: Got it, I understand. 526 00:30:08,940 --> 00:30:11,180 S8: Um, okay. Her death benefit there. 527 00:30:11,380 --> 00:30:15,620 S2: Okay, so you'll have the 21,000 that's coming plus the 3500. 528 00:30:15,700 --> 00:30:19,420 S2: And then will you have a survivor's benefit on Social Security? 529 00:30:20,060 --> 00:30:21,060 S8: I will. Yes. 530 00:30:21,100 --> 00:30:22,860 S2: And what? Do you know what that amount is? 531 00:30:23,900 --> 00:30:27,660 S8: Um, I think that's going to be 2117 a month. 532 00:30:27,900 --> 00:30:30,260 S2: Okay. Was that the amount he was getting? 533 00:30:31,140 --> 00:30:32,700 S8: That's the amount he was getting. 534 00:30:32,740 --> 00:30:35,540 S2: Okay. Because you may need to wait in order to 535 00:30:35,540 --> 00:30:38,220 S2: get that full amount, you may need to wait until 536 00:30:38,220 --> 00:30:41,140 S2: your full retirement age, which is going to be 67. 537 00:30:41,300 --> 00:30:43,660 S2: Let's do this. I want to connect you with a 538 00:30:43,660 --> 00:30:47,780 S2: certified Christian financial counselor. We're going to pay for it, 539 00:30:47,780 --> 00:30:50,260 S2: but this will be somebody who can come alongside you, 540 00:30:50,300 --> 00:30:53,180 S2: help you get your budget set up, help to evaluate 541 00:30:53,180 --> 00:30:56,700 S2: the upcoming expenses you have, and think about the path forward. 542 00:30:56,700 --> 00:30:58,420 S2: So hang on the line. I'm going to talk a 543 00:30:58,420 --> 00:31:10,020 S2: bit more with you and we'll be right back. We're 544 00:31:10,020 --> 00:31:12,540 S2: so glad you've joined us for Faith and Finance live 545 00:31:12,540 --> 00:31:15,100 S2: today here in our final segment, let me remind you 546 00:31:15,140 --> 00:31:17,780 S2: not to call in because we're not live today, but 547 00:31:17,780 --> 00:31:20,459 S2: we'd love for you to stick around and enjoy the 548 00:31:20,460 --> 00:31:23,940 S2: rest of the program. Let's go to the phones, to 549 00:31:23,980 --> 00:31:25,580 S2: Alan in Ohio. Go ahead sir. 550 00:31:26,580 --> 00:31:29,620 S9: Hello, Rob. Thank you for taking my call. Of course. 551 00:31:29,660 --> 00:31:33,660 S9: And thank you all for ministry in this area. I 552 00:31:33,660 --> 00:31:38,500 S9: want to ask for assistance. Um, my wife and I, uh, 553 00:31:38,500 --> 00:31:43,940 S9: our oldest son passed away, uh, in December of last 554 00:31:43,940 --> 00:31:48,940 S9: year and 26 years old. And, uh, he lived with 555 00:31:48,940 --> 00:31:54,260 S9: us and, um, um, we just need some assistance with 556 00:31:54,260 --> 00:31:59,580 S9: how to navigate, uh, taking care of his affairs. Uh, 557 00:31:59,580 --> 00:32:05,260 S9: he that we know of, he did not have a will. Uh, but, um, 558 00:32:05,620 --> 00:32:09,260 S9: we are waiting on the death certificates because I went 559 00:32:09,260 --> 00:32:12,219 S9: to get them, and there was a problem with the 560 00:32:12,220 --> 00:32:15,940 S9: spelling of his middle name. So we're waiting on the 561 00:32:15,980 --> 00:32:19,660 S9: funeral home to get that information so I can go 562 00:32:19,660 --> 00:32:23,060 S9: and get those death certificates. And I wanted to ask, 563 00:32:23,060 --> 00:32:26,900 S9: how many of you recommend that we go get as 564 00:32:26,900 --> 00:32:32,020 S9: far as death certificates? Um, he did have, um, life 565 00:32:32,020 --> 00:32:37,220 S9: insurance policy and his mother, who is my wife, Jackie, 566 00:32:37,620 --> 00:32:42,020 S9: is the beneficiary. Now she does work from home, but, um, 567 00:32:42,140 --> 00:32:44,700 S9: she is in a meeting. That's why she's not with 568 00:32:44,700 --> 00:32:46,620 S9: me on this call. 569 00:32:47,060 --> 00:32:50,260 S2: Okay. Well, Alan, I am so sorry to hear about 570 00:32:50,260 --> 00:32:52,620 S2: your son's passing. And I'd be happy to try to 571 00:32:52,620 --> 00:32:55,820 S2: help you sort through the next steps here. You're exactly 572 00:32:55,820 --> 00:32:59,460 S2: right on getting that death certificate corrected. That does come first. 573 00:32:59,460 --> 00:33:04,020 S2: Most institutions won't proceed with a name mismatch like that, 574 00:33:04,020 --> 00:33:07,460 S2: so sounds like that's already underway. If not, I would 575 00:33:07,460 --> 00:33:11,219 S2: contact the County Vital Records Office or state Department of 576 00:33:11,220 --> 00:33:14,460 S2: Health that issued it and request an amended death certificate 577 00:33:14,460 --> 00:33:18,140 S2: due to a clerical error, and they'll usually require proof 578 00:33:18,140 --> 00:33:21,940 S2: of the correct name, often a funeral home assistance because 579 00:33:21,940 --> 00:33:25,500 S2: they file the amendment in most cases. And then, um, 580 00:33:25,540 --> 00:33:28,300 S2: there might be a small fee that can take, you know, 581 00:33:28,340 --> 00:33:31,180 S2: a couple of weeks, um, hopefully quicker. But yeah, that's 582 00:33:31,180 --> 00:33:34,500 S2: going to be key with no will. That's considered an 583 00:33:34,540 --> 00:33:38,980 S2: intestate estate. Um, that's not a problem. It's just that, 584 00:33:39,020 --> 00:33:41,660 S2: you know, if he was unmarried, no children, the parents 585 00:33:41,660 --> 00:33:44,860 S2: are usually the next of kin. Um, and so the 586 00:33:44,860 --> 00:33:49,500 S2: probate court will assign a personal representative, often a parent, 587 00:33:49,860 --> 00:33:54,420 S2: and authorize that person to act on behalf of the state. Um, 588 00:33:54,420 --> 00:33:58,100 S2: and so, you know, while waiting on that amended death certificate, 589 00:33:58,100 --> 00:34:03,340 S2: you can gather all the necessary financial documents, notify creditors 590 00:34:03,340 --> 00:34:06,500 S2: of the death without paying anything because that will come 591 00:34:06,500 --> 00:34:11,380 S2: from the estate, uh, locate insurance policies. Sounds like you've already, 592 00:34:11,420 --> 00:34:13,460 S2: you know, on top of at least one of them 593 00:34:13,460 --> 00:34:17,580 S2: where your wife is the beneficiary. Freeze accounts. And then 594 00:34:17,620 --> 00:34:19,420 S2: you're probably going to want to speak to a probate 595 00:34:19,420 --> 00:34:24,260 S2: attorney for guidance here. Um, with the life insurance, um, 596 00:34:24,260 --> 00:34:26,540 S2: you know, you're going to want to open a claim 597 00:34:26,540 --> 00:34:30,660 S2: on that and then, uh, eventually provide the amended death 598 00:34:30,660 --> 00:34:34,980 S2: certificate once it's been issued. And then the probate courts, 599 00:34:35,020 --> 00:34:37,820 S2: you know, are going to require the corrected death certificate, 600 00:34:37,940 --> 00:34:41,500 S2: probably a sworn affidavit. Uh, if creditors call, you're going 601 00:34:41,540 --> 00:34:43,660 S2: to want to let them know what happened. Tell them 602 00:34:43,660 --> 00:34:46,660 S2: the estate's not open yet and that you're correcting a 603 00:34:46,660 --> 00:34:50,900 S2: death certificate error and to note the account and send 604 00:34:50,900 --> 00:34:53,980 S2: written notice that that would be helpful. But once that's 605 00:34:53,980 --> 00:34:57,500 S2: sorted out, essentially kind of the next steps are to 606 00:34:57,540 --> 00:35:01,100 S2: go ahead and file with the probate court. Get that assignment, uh, 607 00:35:01,100 --> 00:35:05,860 S2: for probably your wife or you as the personal representative, 608 00:35:06,260 --> 00:35:09,940 S2: and then start kind of working through the process of, 609 00:35:10,219 --> 00:35:15,500 S2: you know, car title and bank accounts, Any property. Um. 610 00:35:15,540 --> 00:35:21,340 S2: Creditor notices. Take care of the debts then. So typically, uh, 611 00:35:21,340 --> 00:35:23,540 S2: you know, credit cards or medical bills would be paid 612 00:35:23,540 --> 00:35:27,140 S2: only from estate assets. So whatever he has in his name, 613 00:35:27,140 --> 00:35:30,500 S2: if he estate runs out of money, then often the 614 00:35:30,500 --> 00:35:33,500 S2: debts that remain will be unpaid unless somebody else is 615 00:35:33,620 --> 00:35:37,820 S2: named on these accounts. Um, parents don't inherit the debt 616 00:35:38,020 --> 00:35:39,980 S2: and then, you know, deal with the car and the 617 00:35:39,980 --> 00:35:43,020 S2: life insurance claim from there. But I'm sure you have 618 00:35:43,020 --> 00:35:44,700 S2: some questions. What thoughts do you have? 619 00:35:45,700 --> 00:35:51,739 S9: Um, just with the, um, going to the probate court 620 00:35:52,700 --> 00:35:55,700 S9: and you said they will appoint a personal representative. 621 00:35:56,020 --> 00:35:56,500 S2: Yes. 622 00:35:57,060 --> 00:36:01,020 S9: Um which would normally is apparent. That's right. Is that correct? 623 00:36:01,060 --> 00:36:01,660 S2: Yes, sir. 624 00:36:01,940 --> 00:36:07,540 S9: Okay. And is for freezing the accounts, uh, contacting creditors 625 00:36:07,540 --> 00:36:09,620 S9: to let them know of his passing. 626 00:36:10,580 --> 00:36:13,490 S2: Yeah, exactly. Right. So with regard to the probate court, 627 00:36:13,530 --> 00:36:15,770 S2: you're going to want to file with the probate court. 628 00:36:16,090 --> 00:36:19,169 S2: You or an attorney would file in the county where 629 00:36:19,170 --> 00:36:25,210 S2: he lived and petition for administration because of an intestate estate. Again, 630 00:36:25,210 --> 00:36:29,610 S2: I'd recommend having an attorney walk alongside you. The death certificate, 631 00:36:29,650 --> 00:36:33,890 S2: a basic list of known assets. List of errors. You know, parents, 632 00:36:34,170 --> 00:36:36,370 S2: it sounds like there's not a spouse here. And then 633 00:36:36,370 --> 00:36:40,489 S2: the court would appoint the personal representative, and then you'd 634 00:36:40,489 --> 00:36:43,930 S2: get the the letters of administration. So this is a 635 00:36:43,930 --> 00:36:47,130 S2: key document that gives legal authority for you to whoever 636 00:36:47,130 --> 00:36:50,450 S2: that personal representative is, that comes from the court to 637 00:36:50,489 --> 00:36:54,130 S2: access bank accounts, deal with the car, communicate with creditors, 638 00:36:54,530 --> 00:36:57,770 S2: things like that. And then often you open an estate 639 00:36:57,770 --> 00:37:01,410 S2: bank account, um, you know, in the name of the estate, 640 00:37:01,410 --> 00:37:03,810 S2: and then all money goes in and bills get paid 641 00:37:03,810 --> 00:37:08,290 S2: from there. Um, you know, I would say really in 642 00:37:08,330 --> 00:37:11,969 S2: terms of, you know, once the probate Opens. The estate 643 00:37:11,969 --> 00:37:15,530 S2: would then control communication with the creditors, which would be 644 00:37:16,090 --> 00:37:18,650 S2: your wife. So, you know, I think you're on the 645 00:37:18,650 --> 00:37:20,850 S2: right track here. The key thing that's going to start 646 00:37:20,850 --> 00:37:23,210 S2: all of this, you know, moving forward is getting that 647 00:37:23,210 --> 00:37:24,450 S2: amended death certificate. 648 00:37:24,969 --> 00:37:28,650 S9: Okay. And how many would you recommend that we. 649 00:37:28,810 --> 00:37:31,529 S2: Yeah, generally ten I think is a good number. 650 00:37:32,250 --> 00:37:32,730 S9: Okay. 651 00:37:33,250 --> 00:37:35,009 S2: Yeah. And then you just don't need to go back 652 00:37:35,010 --> 00:37:37,330 S2: and ask for more if you needed one, because everybody's 653 00:37:37,330 --> 00:37:39,089 S2: going to need one that you're contacting. 654 00:37:39,570 --> 00:37:40,090 S9: Okay. 655 00:37:40,730 --> 00:37:43,290 S2: Well, Alan, my heart's with you, my friend. The Lord 656 00:37:43,290 --> 00:37:46,890 S2: is near. He's near to the brokenhearted. I know this is, uh. Wow. 657 00:37:46,930 --> 00:37:51,009 S2: Something we just can't imagine. And yet, um, God is there. 658 00:37:51,010 --> 00:37:53,170 S2: He's on the throne, and we have the hope of heaven. 659 00:37:53,330 --> 00:37:55,530 S2: Grateful for your call today, sir. If we can help 660 00:37:55,530 --> 00:37:58,690 S2: in any way, please don't hesitate to reach out. May 661 00:37:58,730 --> 00:38:02,410 S2: the Lord bless you. Uh, let's head to Chicagoland. Verna, 662 00:38:02,410 --> 00:38:03,650 S2: thanks for calling. Go ahead. 663 00:38:04,210 --> 00:38:05,410 S10: Hi. How are you? 664 00:38:05,650 --> 00:38:06,290 S11: I'm doing great. 665 00:38:06,330 --> 00:38:10,410 S10: I heard about, um, the government program that you can 666 00:38:10,410 --> 00:38:13,770 S10: use when you have credit card debt. You can validate, 667 00:38:13,969 --> 00:38:17,330 S10: you pay it back at a low amount with no interest. 668 00:38:17,650 --> 00:38:21,610 S10: But I'm not sure how to get to that program 669 00:38:21,610 --> 00:38:23,810 S10: and I would love to pay off my debts. It's 670 00:38:23,810 --> 00:38:25,530 S10: round about 25,000. 671 00:38:25,890 --> 00:38:26,170 S11: And I'm. 672 00:38:26,170 --> 00:38:27,290 S10: 70 years old. 673 00:38:27,610 --> 00:38:29,930 S2: Verna, I gotta tell you, I don't think there's any 674 00:38:29,930 --> 00:38:33,009 S2: such program out there. I mean, if anything, it might 675 00:38:33,050 --> 00:38:35,450 S2: have been something somebody was using as what they would 676 00:38:35,450 --> 00:38:38,290 S2: call clickbait to kind of get you to respond to 677 00:38:38,330 --> 00:38:40,570 S2: something on the internet or over the phone or through 678 00:38:40,570 --> 00:38:44,050 S2: the mail, because there there is no, certainly no federal 679 00:38:44,050 --> 00:38:47,450 S2: program or any program for that matter, that's going to 680 00:38:47,450 --> 00:38:50,730 S2: allow you to pay off credit card debt at zero interest. Uh, 681 00:38:50,730 --> 00:38:54,050 S2: you know, nor in my opinion, should there be now. Um, 682 00:38:54,090 --> 00:38:57,490 S2: there is an option to get that interest rate down 683 00:38:57,489 --> 00:39:00,609 S2: and it's through something called credit counseling, or you might 684 00:39:00,610 --> 00:39:03,930 S2: hear it referred to as debt management, where every credit 685 00:39:03,930 --> 00:39:08,129 S2: card company has what they call a credit counseling rate, 686 00:39:08,170 --> 00:39:10,810 S2: which is a lower interest rate if you're willing to 687 00:39:10,850 --> 00:39:15,930 S2: close the account and pay through a nonprofit credit counseling agency, 688 00:39:16,210 --> 00:39:19,489 S2: they'll drop that interest rate. And the combination of that 689 00:39:19,489 --> 00:39:23,890 S2: lower rate with one steady level monthly payment is going 690 00:39:23,890 --> 00:39:27,250 S2: to help you pay that debt off 80% faster. And 691 00:39:27,250 --> 00:39:30,890 S2: the credit counseling agency will even help work with your 692 00:39:30,890 --> 00:39:33,290 S2: budget to make sure that, you know, this can fit 693 00:39:33,290 --> 00:39:36,489 S2: in your budget and this is sustainable. Uh, but as 694 00:39:36,489 --> 00:39:38,210 S2: to a program that's going to allow you to get 695 00:39:38,210 --> 00:39:41,049 S2: that to zero, uh, it just doesn't exist. And if 696 00:39:41,050 --> 00:39:43,450 S2: you find it, feel free to pass it along. But I'm, 697 00:39:43,489 --> 00:39:45,930 S2: I'm pretty confident you won't. If you want to check 698 00:39:45,930 --> 00:39:50,090 S2: out a debt management program, we recommend Christian credit counselors.org. 699 00:39:50,810 --> 00:39:54,090 S2: They've worked with hundreds, if not thousands of our listeners. 700 00:39:54,250 --> 00:39:58,130 S2: They're wonderful, godly people. And I think they'll they'll really 701 00:39:58,130 --> 00:40:00,450 S2: be able to help you with this. 25,000 in credit 702 00:40:00,450 --> 00:40:04,410 S2: card debt. Again, Christian credit counselors dot o r g. 703 00:40:04,450 --> 00:40:06,410 S2: Thanks for your call. All right. We're going to go 704 00:40:06,410 --> 00:40:08,489 S2: out to Oklahoma. Linda, how can I help you? 705 00:40:09,090 --> 00:40:13,050 S12: Um, well, it's kind of a serious question for me. 706 00:40:13,610 --> 00:40:20,969 S12: VA and taking, uh, cancer treatment. And I want to 707 00:40:21,010 --> 00:40:26,210 S12: know if there is a max amount of money that 708 00:40:26,570 --> 00:40:30,290 S12: if you claim in one year that the VA can 709 00:40:31,010 --> 00:40:38,969 S12: dismiss you from their facilities and, uh, you have to 710 00:40:38,969 --> 00:40:40,730 S12: get insurance on your own. 711 00:40:41,250 --> 00:40:45,730 S2: MM. Yes. Um, short answer is there is not a 712 00:40:45,770 --> 00:40:51,969 S2: lifetime dollar max from VA health care for medical treatment, 713 00:40:51,969 --> 00:40:57,089 S2: including chemotherapy. Uh, but there can be co-pays depending upon 714 00:40:57,370 --> 00:40:59,730 S2: the veteran's status. So it would have to do with 715 00:40:59,730 --> 00:41:04,130 S2: the disability rating and, uh, you know, the income level, 716 00:41:04,130 --> 00:41:08,170 S2: priority group, things like that. Um, so there's no hard 717 00:41:08,170 --> 00:41:12,569 S2: dollar cap like with many private insurance plans. If the 718 00:41:12,570 --> 00:41:16,810 S2: treatment is approved through the VA system, then they generally 719 00:41:16,810 --> 00:41:21,489 S2: cover medically necessary cancer treatment. And that includes chemo and 720 00:41:21,570 --> 00:41:27,370 S2: oncology visits and hospital stays. Um, what changes is what 721 00:41:27,370 --> 00:41:31,850 S2: the veteran pays, not what the VA covers. So many 722 00:41:31,850 --> 00:41:36,370 S2: veterans pay zero nothing depending on eligibility. So if the 723 00:41:36,370 --> 00:41:40,290 S2: cancer is service oriented or if the disability rating is 724 00:41:40,290 --> 00:41:47,370 S2: more than 50%, um, or lower priority groups based on income. Um, 725 00:41:47,930 --> 00:41:51,489 S2: so that would be really the key is how much 726 00:41:51,810 --> 00:41:56,410 S2: you're paying as, you know, inpatient copays, whether it's not 727 00:41:56,410 --> 00:41:59,649 S2: at all or whether it is something that you have 728 00:41:59,650 --> 00:42:01,930 S2: to pay toward that. But in terms of a, a 729 00:42:02,130 --> 00:42:05,170 S2: cap on the total amount they can pay, that is 730 00:42:05,170 --> 00:42:08,730 S2: usually not a factor whatsoever. So I hope Linda, that 731 00:42:08,730 --> 00:42:13,250 S2: helps to clarify that and maybe eases, uh, your concern there. 732 00:42:13,290 --> 00:42:15,969 S2: No cap, but, uh, the key would just be what 733 00:42:15,969 --> 00:42:18,650 S2: is your portion of the co-pays that need to be 734 00:42:18,650 --> 00:42:22,130 S2: paid on an ongoing basis? Thank you for your call today. Unfortunately, 735 00:42:22,130 --> 00:42:23,770 S2: I'm out of time, so I'm going to have to 736 00:42:23,810 --> 00:42:26,450 S2: let you go, but we appreciate you being on the program, folks. 737 00:42:26,450 --> 00:42:29,050 S2: Thanks for tuning in today. I hope you found something 738 00:42:29,050 --> 00:42:34,170 S2: encouraging helpful. I hope above all else, uh, you appreciate 739 00:42:34,170 --> 00:42:36,810 S2: what God's Word has to say in this area of 740 00:42:36,810 --> 00:42:41,529 S2: financial management and stewardship because it is our source and 741 00:42:41,530 --> 00:42:43,569 S2: we want it to be the same for you. Well, 742 00:42:43,570 --> 00:42:45,649 S2: that's going to do it for us today. Faith and 743 00:42:45,650 --> 00:42:48,930 S2: Finance Live is a partnership between Moody Radio and Faith fi. 744 00:42:48,969 --> 00:42:52,410 S2: Thank you to my amazing broadcast team. I couldn't do 745 00:42:52,410 --> 00:42:54,290 S2: this without them. I hope you have a great rest 746 00:42:54,290 --> 00:42:56,490 S2: of your day and we'll see you next time on 747 00:42:56,489 --> 00:42:57,850 S2: Faith and Finance Live.