1 00:00:03,120 --> 00:00:06,600 S1: The following episode of Faith and Finance Live is prerecorded, 2 00:00:06,600 --> 00:00:08,479 S1: so please don't call in. 3 00:00:08,680 --> 00:00:11,360 S2: Banking isn't usually seen as a place to live out 4 00:00:11,360 --> 00:00:14,720 S2: your faith, but it can be. Hi, I'm Rob West. 5 00:00:14,720 --> 00:00:18,640 S2: For many, faith based banking is becoming a compelling opportunity 6 00:00:18,640 --> 00:00:22,640 S2: to partner with institutions that support the things they care about. Today, 7 00:00:22,640 --> 00:00:25,880 S2: we're joined by Aaron Cade to discuss why believers may 8 00:00:25,920 --> 00:00:29,400 S2: benefit from reconsidering where they bank. And then we have 9 00:00:29,400 --> 00:00:32,000 S2: some great calls lined up. But please don't call in 10 00:00:32,000 --> 00:00:36,400 S2: today because this program is prerecorded. This is faith and finance. Live. 11 00:00:36,440 --> 00:00:42,840 S2: Biblical wisdom for your financial decisions. Well, our guest today 12 00:00:42,840 --> 00:00:46,440 S2: is Aaron Cade, chief marketing and communication officer at Christian 13 00:00:46,440 --> 00:00:49,839 S2: Community Credit Union and Adelphi. Aaron, great to have you 14 00:00:49,840 --> 00:00:50,640 S2: back with us. 15 00:00:50,920 --> 00:00:52,800 S3: Thank you. Rob, it's great to be back with you. 16 00:00:53,240 --> 00:00:56,000 S2: Aaron, I want to start with the practical. Before we 17 00:00:56,000 --> 00:00:59,240 S2: get into faith alignment, a bank must still, of course, 18 00:00:59,390 --> 00:01:03,070 S2: serve your everyday needs. That's a key part of stewardship, right? 19 00:01:03,310 --> 00:01:05,389 S3: It is. You got to get the basics right. I mean, 20 00:01:05,430 --> 00:01:09,670 S3: managing money well requires systems that are secure, efficient and reliable. 21 00:01:10,069 --> 00:01:14,509 S3: So wanting good technology, strong customer service and modern tools 22 00:01:14,510 --> 00:01:18,750 S3: is not selfish. It's wise stewardship. So your banking partner 23 00:01:18,750 --> 00:01:22,350 S3: should help simplify your financial life, not add friction or confusion. 24 00:01:22,670 --> 00:01:26,550 S2: Yeah, I think that's well said. Then another question naturally follows. 25 00:01:26,550 --> 00:01:31,350 S2: Does this institution share your Christian values and worldview? And 26 00:01:31,390 --> 00:01:34,069 S2: once the basics are covered, why does that matter? 27 00:01:34,630 --> 00:01:37,230 S3: Well, where we bank reflects what we believe about money 28 00:01:37,230 --> 00:01:41,470 S3: and its purpose. So every financial institution makes choices about 29 00:01:41,470 --> 00:01:44,830 S3: how money is used, invested and put to work. Faith 30 00:01:44,830 --> 00:01:48,790 S3: alignment means operating from a biblical view of stewardship, a 31 00:01:48,790 --> 00:01:51,150 S3: biblical view of integrity and service. 32 00:01:51,390 --> 00:01:54,030 S2: Yeah. Of course. And one of the distinctives of Christian 33 00:01:54,030 --> 00:01:57,670 S2: Community Credit Union is that faith doesn't just stay on paper, 34 00:01:57,670 --> 00:02:00,820 S2: it actually shows up in action. So I'd love for 35 00:02:00,820 --> 00:02:04,419 S2: you to talk about how CQ and Adelphi live this 36 00:02:04,420 --> 00:02:08,420 S2: out through generosity all the way toward global impact. 37 00:02:08,700 --> 00:02:12,780 S3: Yeah. Uh kcu has given more than $6.5 million to 38 00:02:12,820 --> 00:02:16,780 S3: support Christ centered work around the world. Adelphi, for its part, 39 00:02:17,020 --> 00:02:20,700 S3: gives hundreds of thousands of dollars a year, and employees 40 00:02:20,740 --> 00:02:24,580 S3: volunteer hundreds of hours each year. Together, we will be 41 00:02:24,620 --> 00:02:27,780 S3: able to amplify this giving, and that's what truly sets 42 00:02:27,780 --> 00:02:30,220 S3: us apart from all the other banking options out there. 43 00:02:30,419 --> 00:02:34,660 S3: So collectively, Adelphi and Kcu have over 125 years of 44 00:02:34,660 --> 00:02:39,780 S3: supporting Christian ministries, missionaries, and church planting efforts globally. You know, 45 00:02:39,820 --> 00:02:42,740 S3: when tragedy strikes, we work with Christian partners to bring 46 00:02:42,740 --> 00:02:47,179 S3: relief even more tangibly. We recently contributed toward the development 47 00:02:47,180 --> 00:02:50,820 S3: of a financial discipleship curriculum for married couples. You know, 48 00:02:50,860 --> 00:02:53,700 S3: considering that financial issues and misalignment is one of the 49 00:02:53,700 --> 00:02:58,260 S3: leading causes of divorce, we believe this curriculum will bring healing, restoration, 50 00:02:58,260 --> 00:03:02,980 S3: and strength to many Christian marriages. In another example, between 51 00:03:02,980 --> 00:03:06,019 S3: the credit union and our members, we recently sent over 52 00:03:06,020 --> 00:03:09,620 S3: $10,000 to Operation Christmas Child to serve children in need 53 00:03:09,620 --> 00:03:12,380 S3: and to share the love of Christ with them. So 54 00:03:12,380 --> 00:03:15,419 S3: the money we earn is directly invested back into serving 55 00:03:15,419 --> 00:03:18,619 S3: members well, offering them better rates and lower fees and 56 00:03:18,620 --> 00:03:22,220 S3: supporting ministries that are Christ centered. We tithe on our 57 00:03:22,220 --> 00:03:25,260 S3: earnings to go directly into building God's kingdom and supporting 58 00:03:25,260 --> 00:03:26,139 S3: gospel work. 59 00:03:26,580 --> 00:03:29,820 S2: Yeah, I mean, everything you just said really underscores the 60 00:03:29,820 --> 00:03:33,900 S2: difference in having a banking partner that aligns with your 61 00:03:33,900 --> 00:03:37,140 S2: heart as a Christ follower. Now, Aaron, regardless of where 62 00:03:37,140 --> 00:03:39,500 S2: someone banks today, what are some of the general red 63 00:03:39,500 --> 00:03:42,740 S2: flags to watch out for that might indicate their bank 64 00:03:42,780 --> 00:03:44,020 S2: isn't serving them well? 65 00:03:44,380 --> 00:03:47,380 S3: Well, first, think about how your bank puts your deposits 66 00:03:47,380 --> 00:03:51,020 S3: to use and where it invests its earnings. Consider their 67 00:03:51,020 --> 00:03:55,570 S3: business practices and values. Does your bank's investment philosophy align 68 00:03:55,570 --> 00:03:59,130 S3: with your Christian faith? Or does it support organizations and 69 00:03:59,130 --> 00:04:03,170 S3: causes you consider ungodly? Also, be on alert for high 70 00:04:03,170 --> 00:04:07,410 S3: or confusing fees that quietly erode your savings. Also, think 71 00:04:07,410 --> 00:04:09,490 S3: about does your bank make it difficult to reach a 72 00:04:09,490 --> 00:04:12,210 S3: real person when you have a problem? Or is its 73 00:04:12,210 --> 00:04:18,170 S3: technology outdated or unreliable, which complicates your everyday money management? Finally, 74 00:04:18,210 --> 00:04:20,090 S3: does your bank make you feel like you're a number 75 00:04:20,089 --> 00:04:21,650 S3: rather than a valued customer? 76 00:04:22,089 --> 00:04:24,570 S2: Yeah, that's helpful to hear. One final thing we've talked 77 00:04:24,570 --> 00:04:28,289 S2: about Kqueue and Adelphi. There's a big merger going on. 78 00:04:28,290 --> 00:04:29,810 S2: What does that mean for members? 79 00:04:30,130 --> 00:04:35,130 S3: Well, members are already benefiting from expanded services reach and capabilities. 80 00:04:35,450 --> 00:04:40,330 S3: The combined organization is better positioned to serve individuals, families, churches, 81 00:04:40,330 --> 00:04:43,890 S3: ministries and Christian owned businesses. And in just a couple 82 00:04:43,930 --> 00:04:46,610 S3: of months, the merged credit union will assume the brand 83 00:04:46,650 --> 00:04:48,250 S3: Adelphi Christian Banking. 84 00:04:48,290 --> 00:04:53,409 S2: It'll be by far the biggest Christian banking solution anywhere. Erin, 85 00:04:53,410 --> 00:04:55,679 S2: thanks for your partnership and for joining us today. 86 00:04:56,000 --> 00:04:57,640 S3: Thank you so much for having me, Rob. 87 00:04:57,920 --> 00:05:01,720 S2: Folks, when financial services work well and align with your faith, 88 00:05:01,720 --> 00:05:04,840 S2: your money can serve both your needs and God's kingdom. 89 00:05:04,839 --> 00:05:07,760 S2: Faith by listeners can earn up to $400 as a 90 00:05:07,760 --> 00:05:11,120 S2: bonus when opening a qualifying, high yield checking or savings 91 00:05:11,120 --> 00:05:14,200 S2: account or a visa cash back card, go to Faith 92 00:05:15,960 --> 00:05:22,480 S2: and enter code Faith by Faith. We'll be right back. 93 00:05:35,000 --> 00:05:36,880 S2: Great to have you with us today on faith and 94 00:05:36,880 --> 00:05:39,800 S2: finance live. By the way, we're not live today. We're 95 00:05:39,800 --> 00:05:41,840 S2: away from the studio, so don't call in. But we 96 00:05:41,839 --> 00:05:45,320 S2: have some great questions that we lined up in advance. 97 00:05:45,320 --> 00:05:49,680 S2: By the way, this ministry is entirely listener supported. That 98 00:05:49,680 --> 00:05:52,830 S2: means we rely on your financial gifts and support to 99 00:05:52,870 --> 00:05:54,950 S2: do what we do on the air every day. If 100 00:05:54,950 --> 00:05:57,590 S2: you consider a gift, we'd certainly be grateful. Just head 101 00:05:57,589 --> 00:06:02,150 S2: to our website. Faith. Com that's faith fi.com and click 102 00:06:02,190 --> 00:06:04,910 S2: the give button. Thanks in advance. Uh, before we head 103 00:06:04,910 --> 00:06:07,670 S2: to the phones in the news, rising college costs and 104 00:06:07,670 --> 00:06:11,750 S2: student debt are pushing more high school graduates toward cheaper, 105 00:06:11,750 --> 00:06:15,870 S2: career focused alternatives. A new report from the National Student 106 00:06:15,870 --> 00:06:19,710 S2: Clearinghouse finds growing interest in two year degrees and short 107 00:06:19,750 --> 00:06:25,150 S2: term credential programs, especially at community colleges. Enrollment in certificate 108 00:06:25,150 --> 00:06:29,550 S2: and associate programs rose about 2% in the fall of 2025, 109 00:06:29,550 --> 00:06:33,990 S2: while bachelor's programs grew less than 1% at community colleges 110 00:06:33,990 --> 00:06:40,790 S2: now enroll 752,000 students in certificate programs. That's up 28% 111 00:06:40,790 --> 00:06:45,630 S2: in four years, driven largely by affordability and job aligned training, 112 00:06:45,870 --> 00:06:50,230 S2: with tuition at two year schools averaging about $4,100 compared 113 00:06:50,230 --> 00:06:55,350 S2: to nearly 12,000. At public four year colleges, many students 114 00:06:55,350 --> 00:07:00,110 S2: are looking to avoid heavy borrowing and uncertain post-college job prospects. 115 00:07:00,310 --> 00:07:04,590 S2: Analysts say the traditional safety premium of a bachelor's degree 116 00:07:04,790 --> 00:07:09,750 S2: is shrinking as AI reshapes hiring, and skilled trades offer 117 00:07:09,750 --> 00:07:14,270 S2: strong earnings. New workforce Pell grants are also making short 118 00:07:14,310 --> 00:07:18,030 S2: term training more accessible, opening doors for students who couldn't 119 00:07:18,030 --> 00:07:21,869 S2: afford it before. Taken together, these trends suggest that higher 120 00:07:21,870 --> 00:07:26,990 S2: education is shifting toward faster, more practical pathways tied to 121 00:07:27,030 --> 00:07:30,830 S2: employment for many students. The goal is less about prestige 122 00:07:31,230 --> 00:07:34,950 S2: and more about graduating with skills, a job, waiting, and 123 00:07:34,950 --> 00:07:38,710 S2: certainly without overwhelming debt. So it'll be interesting to watch 124 00:07:38,750 --> 00:07:41,150 S2: as all of this continues to unfold, not only these 125 00:07:41,150 --> 00:07:44,430 S2: trends I just referred to today. The other issue that 126 00:07:44,430 --> 00:07:49,429 S2: colleges are facing is this demographic cliff, where we're just 127 00:07:49,500 --> 00:07:53,820 S2: seeing a fall off in the number of students available 128 00:07:53,820 --> 00:07:58,500 S2: as we see a shrinking population. And so, you know, 129 00:07:58,540 --> 00:08:02,460 S2: they've got some some big challenges ahead to maintain those 130 00:08:02,460 --> 00:08:05,940 S2: massive campuses and the physical plant and all that comes, 131 00:08:05,980 --> 00:08:08,140 S2: especially if there's less students to go around, not only 132 00:08:08,140 --> 00:08:11,740 S2: because there's just demographically less students, but if the the 133 00:08:11,780 --> 00:08:15,020 S2: trends are changing, they're going to have to adjust with it. 134 00:08:15,060 --> 00:08:18,739 S2: We may end up seeing college costs come down as 135 00:08:18,940 --> 00:08:21,260 S2: as a part of that, but certainly something we'll keep 136 00:08:21,260 --> 00:08:23,500 S2: an eye on. The game is changing quite a bit 137 00:08:23,500 --> 00:08:26,220 S2: because of tech and a whole host of other issues. 138 00:08:26,620 --> 00:08:29,180 S2: That is for sure. All right. The calls are coming in. 139 00:08:29,180 --> 00:08:31,700 S2: We've got still two lines open. It looks like maybe 140 00:08:31,700 --> 00:08:36,980 S2: three 800 525 7000 with any financial question today. Call 141 00:08:37,020 --> 00:08:40,380 S2: right now. Let's dive in Oklahoma Robert go ahead sir. 142 00:08:41,220 --> 00:08:45,100 S4: Hi. Thanks for taking my call. Of course, I listen 143 00:08:45,100 --> 00:08:47,579 S4: to you several times. And I've heard you talk a 144 00:08:47,620 --> 00:08:53,250 S4: lot about, uh, you know, a credit counseling. Uh, I 145 00:08:53,250 --> 00:08:56,209 S4: know someone that has some credit card debt. You know, 146 00:08:56,250 --> 00:09:01,330 S4: that's pretty overwhelming. And, uh, it's about 40,000, and they're 147 00:09:01,530 --> 00:09:04,970 S4: they're able to make payments that are significant, but the 148 00:09:04,970 --> 00:09:07,810 S4: payments aren't getting them anywhere. And so I was trying 149 00:09:07,809 --> 00:09:11,490 S4: to advise them or they were asking me for advice. And, um, 150 00:09:12,130 --> 00:09:14,570 S4: and I've heard you mention in the past that you should, uh, 151 00:09:14,970 --> 00:09:19,610 S4: you know, that you, that you suggest, um, credit card 152 00:09:19,730 --> 00:09:25,130 S4: credit counseling over, uh, like, equity loan, you know, to 153 00:09:25,170 --> 00:09:30,210 S4: pay off my debt. So, uh, I've understood it, but 154 00:09:30,210 --> 00:09:33,689 S4: I don't really understand. I mean, I don't know the reason. 155 00:09:33,690 --> 00:09:35,650 S4: And they were asking me, why would you do that 156 00:09:35,650 --> 00:09:37,809 S4: versus doing equity loans? So I didn't have that answer 157 00:09:37,809 --> 00:09:39,450 S4: for them. Can you tell me that, please? 158 00:09:39,490 --> 00:09:41,850 S2: I'd be delighted to. Yeah, you're exactly right. That is 159 00:09:41,850 --> 00:09:45,170 S2: my preferred option. And for a few reasons. Number one, 160 00:09:45,410 --> 00:09:48,360 S2: with credit counseling, you're going to get that reduction in 161 00:09:48,360 --> 00:09:51,520 S2: interest rate that most people are looking for when they 162 00:09:51,520 --> 00:09:55,480 S2: take out either a consolidation loan unsecured, to kind of 163 00:09:55,520 --> 00:09:58,960 S2: roll up all the credit card debt into one new loan, 164 00:09:59,160 --> 00:10:02,720 S2: or if they take a home equity loan on their home, 165 00:10:02,920 --> 00:10:04,640 S2: you know, they're going to get a lower interest rate 166 00:10:04,640 --> 00:10:06,920 S2: than the average credit card interest rate, which is north 167 00:10:06,920 --> 00:10:09,920 S2: of 20%. And, you know, home equity loans, let's call 168 00:10:09,920 --> 00:10:11,800 S2: it seven and a half right now. So it's quite 169 00:10:11,800 --> 00:10:14,600 S2: a bit of savings, but you're going to experience something similar, 170 00:10:14,640 --> 00:10:17,559 S2: perhaps even better. It depends on which creditors you have 171 00:10:17,800 --> 00:10:21,200 S2: in credit counseling, because the average rate drops from whatever 172 00:10:21,200 --> 00:10:24,280 S2: it is right now north of 20, probably maybe higher 173 00:10:24,280 --> 00:10:27,960 S2: than that. Um, and to an average of somewhere between 174 00:10:27,960 --> 00:10:31,520 S2: 0 and 10%. So you'd probably end up with a, 175 00:10:31,880 --> 00:10:36,680 S2: an aggregate rate across all the cards of somewhere equal 176 00:10:36,679 --> 00:10:38,720 S2: to or less than what you would get in that 177 00:10:39,040 --> 00:10:42,480 S2: consolidation loan or home equity loan rate anyway. So that's 178 00:10:42,480 --> 00:10:46,550 S2: reason number one. Reason number two is I just find 179 00:10:46,710 --> 00:10:49,910 S2: that when people, uh, don't do the hard work to 180 00:10:49,950 --> 00:10:53,429 S2: pay off the credit cards, they keep them open, and 181 00:10:53,429 --> 00:10:56,550 S2: then they just transfer that debt to a new loan, 182 00:10:56,550 --> 00:10:59,190 S2: whether that's a home equity loan or a consolidation loan. 183 00:10:59,429 --> 00:11:02,190 S2: They don't do the work to fix the problem that 184 00:11:02,190 --> 00:11:04,989 S2: led to the debt in the first place. And usually 185 00:11:04,990 --> 00:11:08,110 S2: that's lifestyle spending beyond their means. And so they just 186 00:11:08,110 --> 00:11:11,030 S2: keep chugging along. Except now the pressure has come off 187 00:11:11,030 --> 00:11:13,670 S2: because the the monthly payment is lower. They feel a 188 00:11:13,670 --> 00:11:16,630 S2: little better because that interest rates down. And then they 189 00:11:16,630 --> 00:11:18,910 S2: call me six months, six months later and they say 190 00:11:18,910 --> 00:11:22,550 S2: guess what Rob? You know, now I've got this consolidation 191 00:11:22,550 --> 00:11:25,670 S2: loan at 40 K and my credit cards are back 192 00:11:25,670 --> 00:11:29,910 S2: to 10,000. And that's just because again, you know, you 193 00:11:29,950 --> 00:11:32,550 S2: need to when you go into credit counseling, those cards 194 00:11:32,550 --> 00:11:34,990 S2: are going to be closed. And you're going to have 195 00:11:34,990 --> 00:11:38,030 S2: one level monthly payment. And the focus is at that 196 00:11:38,030 --> 00:11:42,069 S2: point going to be on, uh, you know, really rightsizing 197 00:11:42,070 --> 00:11:46,070 S2: the budget, dialing back spending where possible to live within 198 00:11:46,070 --> 00:11:48,870 S2: your means. So that's reason number two. Reason number three 199 00:11:48,870 --> 00:11:52,710 S2: would be that, you know, often folks will try to 200 00:11:52,750 --> 00:11:56,110 S2: put this on the home. And now in doing that 201 00:11:56,110 --> 00:11:59,870 S2: we've taken what's called unsecured debt, meaning it's not collateralized 202 00:11:59,870 --> 00:12:03,550 S2: anything other than your good name. Um, and we've put 203 00:12:03,550 --> 00:12:08,069 S2: the home up as collateral. So if something catastrophic happened and, 204 00:12:08,110 --> 00:12:10,350 S2: you know, the borrower was unable to make the payment, 205 00:12:10,670 --> 00:12:13,350 S2: you know, now we're not just looking at a judgment, 206 00:12:13,590 --> 00:12:17,230 S2: you know, where you'd have to start paying it back, uh, 207 00:12:17,309 --> 00:12:20,030 S2: based on the court's, you know, admonition. But now we're 208 00:12:20,030 --> 00:12:22,910 S2: putting the home at risk, and there's a potential foreclosure here. 209 00:12:22,910 --> 00:12:25,990 S2: So those would be the three primary reasons that I 210 00:12:25,990 --> 00:12:28,350 S2: would say, let's just leave the debt right where it is. 211 00:12:28,350 --> 00:12:31,429 S2: Let's slide it into a credit counseling program. You'll end 212 00:12:31,429 --> 00:12:35,710 S2: up making one level monthly payment, probably around 3% of 213 00:12:35,710 --> 00:12:38,630 S2: the balance. Um, you know, so for 40 K, I mean, 214 00:12:38,670 --> 00:12:41,790 S2: that would that would be somewhere between 1000 and 1200 215 00:12:41,790 --> 00:12:45,300 S2: probably a month. or probably already paying that anyway. But now, 216 00:12:45,300 --> 00:12:49,380 S2: with this reduction in interest rates and that level monthly payment, 217 00:12:49,380 --> 00:12:51,820 S2: meaning they're not going to pay less every month as 218 00:12:51,820 --> 00:12:54,819 S2: the balance comes down, which is what happens with minimum payments. 219 00:12:55,020 --> 00:12:58,180 S2: The combination of those two, uh, has you paying this 220 00:12:58,179 --> 00:13:02,980 S2: back on average 80% faster in these programs. But, you know, 221 00:13:03,020 --> 00:13:04,900 S2: give me your follow up questions on that, Robert. Does 222 00:13:04,900 --> 00:13:05,780 S2: that all make sense? 223 00:13:06,420 --> 00:13:10,980 S4: Yeah. Yeah, it all makes perfect sense. Um, I don't 224 00:13:10,980 --> 00:13:13,540 S4: think I think that's all I needed. I mean, I 225 00:13:14,300 --> 00:13:17,219 S4: know the, the pros and cons on both sides. I 226 00:13:17,220 --> 00:13:20,140 S4: just didn't I didn't really put. I just needed a 227 00:13:20,140 --> 00:13:22,420 S4: basis for why it was so much better to do 228 00:13:22,460 --> 00:13:25,580 S4: credit counseling. But I think the biggest one that sounds 229 00:13:25,580 --> 00:13:29,660 S4: to me is the, uh, you're actually doing, even though 230 00:13:29,660 --> 00:13:32,059 S4: they have a lot of equity in their home and 231 00:13:32,059 --> 00:13:34,660 S4: it's not much of a risk, but it's something catastrophic 232 00:13:34,660 --> 00:13:38,260 S4: did happen. They are transferring unsecured debt to secured debt. 233 00:13:38,260 --> 00:13:42,770 S4: And then that that would be, uh, that that this 234 00:13:42,770 --> 00:13:44,690 S4: one that rings home most for me. 235 00:13:44,890 --> 00:13:48,370 S2: Yeah, yeah. Well, and and often with those home equity loans, 236 00:13:48,370 --> 00:13:51,850 S2: they might end up stringing that debt out longer just because, 237 00:13:51,890 --> 00:13:55,210 S2: you know, that payback might be ten, 15, 20 years 238 00:13:55,210 --> 00:13:58,290 S2: on that home equity loan. Uh, in terms of whatever 239 00:13:58,290 --> 00:14:00,809 S2: amortization you set up with the lender. So even though 240 00:14:00,809 --> 00:14:03,410 S2: it's a lower rate, uh, you know, you end up 241 00:14:03,410 --> 00:14:06,210 S2: paying more in interest by the time it's all paid off. 242 00:14:06,210 --> 00:14:08,929 S2: So hopefully that gives you some talking points. Our friends 243 00:14:08,929 --> 00:14:13,450 S2: at Christian Credit Counselors is our preferred solution. They've worked 244 00:14:13,450 --> 00:14:17,449 S2: with thousands of our listeners. They're amazing. They're all Christ followers. 245 00:14:17,450 --> 00:14:20,930 S2: They'll do a great job. Christian Credit counselors.org. Robert, you 246 00:14:20,930 --> 00:14:23,170 S2: sound like a great friend. Thanks for calling today. We 247 00:14:23,170 --> 00:14:34,850 S2: appreciate it. We'll be right back, folks. Delighted to have 248 00:14:34,850 --> 00:14:37,570 S2: you with us today on Faith and Finance Live. We're 249 00:14:37,570 --> 00:14:39,730 S2: not here today. Our team is away from the studio. 250 00:14:39,880 --> 00:14:42,440 S2: This is pre-recorded, so don't call in. But we've got 251 00:14:42,440 --> 00:14:45,160 S2: some great questions we lined up in advance. Before we 252 00:14:45,160 --> 00:14:47,720 S2: go to the phones, let me remind you, faith and 253 00:14:47,720 --> 00:14:50,480 S2: faith in finance live is listener supported. If you'd like 254 00:14:50,480 --> 00:14:52,680 S2: to be a financial partner, you can do that at Faith. 255 00:14:52,920 --> 00:14:56,800 S2: Com just click give thanks in advance. All right. Let's 256 00:14:56,800 --> 00:14:59,880 S2: head back to the phones. Let's go to Virginia Marty. 257 00:14:59,920 --> 00:15:00,720 S2: How can I help? 258 00:15:01,560 --> 00:15:04,359 S5: Well God bless you. And thank you for this wonderful 259 00:15:04,360 --> 00:15:09,000 S5: work of ministry that you and your team there are doing. 260 00:15:09,040 --> 00:15:13,160 S5: That's awesome. My question today for the team is I 261 00:15:13,200 --> 00:15:16,280 S5: want to be a good steward of God's money. Part 262 00:15:16,280 --> 00:15:21,520 S5: of that to me, I'm convicted is to give 10% now. Yeah. 263 00:15:21,560 --> 00:15:25,840 S5: What really is the difference between tithing and offering? Because 264 00:15:25,840 --> 00:15:28,080 S5: I'll be honest, as a person that goes to church, 265 00:15:28,480 --> 00:15:32,360 S5: especially here recently post-Covid, I've been more leaning on the 266 00:15:32,360 --> 00:15:37,440 S5: offering side. I haven't really been given my 10% of 267 00:15:37,440 --> 00:15:42,800 S5: my gross income, which I believe I'm missing the mark 268 00:15:42,840 --> 00:15:44,880 S5: and I just need help this morning. Just try to 269 00:15:44,920 --> 00:15:46,080 S5: understand this part. 270 00:15:46,240 --> 00:15:48,600 S2: Well, first of all, Marty, let me just say how 271 00:15:48,600 --> 00:15:52,160 S2: thrilled I am that you called. I'm delighted that, uh, 272 00:15:52,200 --> 00:15:55,480 S2: you're thinking about managing God's money. Sounds like you're taking 273 00:15:55,480 --> 00:15:58,160 S2: that really seriously. And, you know, it's a high calling 274 00:15:58,160 --> 00:16:00,360 S2: that you have that I have that we all have, 275 00:16:00,360 --> 00:16:03,360 S2: that we get to manage the resources that belong to 276 00:16:03,360 --> 00:16:06,200 S2: the King of Kings. And so our goal is faithfulness. 277 00:16:06,200 --> 00:16:07,800 S2: And that's what I hear in your voice and in 278 00:16:07,800 --> 00:16:10,520 S2: your heart. You want to be found faithful as unto 279 00:16:10,560 --> 00:16:13,120 S2: the Lord. And I love that you're talking about giving, 280 00:16:13,120 --> 00:16:15,400 S2: because I think one of the the primary reasons God 281 00:16:15,400 --> 00:16:17,200 S2: entrusts to us what he does is so that we 282 00:16:17,200 --> 00:16:20,160 S2: can manage it in such a way that, yes, we 283 00:16:20,160 --> 00:16:22,280 S2: can enjoy it, and yes, we can provide. And there's 284 00:16:22,280 --> 00:16:24,760 S2: nothing wrong with those things. In fact, we see those 285 00:16:24,760 --> 00:16:27,280 S2: on full display in God's Word in First Timothy. I've 286 00:16:27,280 --> 00:16:30,600 S2: given you all things to enjoy, so we should enjoy it. 287 00:16:30,600 --> 00:16:33,360 S2: But it can't rival our hearts. It can't become the 288 00:16:33,360 --> 00:16:35,040 S2: end game, and one of the ways we break the 289 00:16:35,040 --> 00:16:38,070 S2: grip of money over our lives As we give it away, 290 00:16:38,070 --> 00:16:41,230 S2: we hold it loosely and that's actually a joy. It 291 00:16:41,230 --> 00:16:44,750 S2: comes as an overflow of the gratitude that we have 292 00:16:44,750 --> 00:16:48,350 S2: for the grace, the unmerited favor that's been extended to us, 293 00:16:48,350 --> 00:16:51,870 S2: namely on the cross through Jesus and his shed blood. 294 00:16:51,870 --> 00:16:55,310 S2: And and so giving is just one of those natural responses. 295 00:16:55,310 --> 00:16:59,110 S2: And we get the joy of participating in God's activity. 296 00:16:59,150 --> 00:17:02,670 S2: Now you're asking about the tithe, and that traditionally refers 297 00:17:02,670 --> 00:17:06,230 S2: to giving the first 10th of your income back to God. 298 00:17:06,230 --> 00:17:09,110 S2: We see that in Malachi 310, and I would say 299 00:17:09,109 --> 00:17:14,189 S2: it reflects gratitude and trust. It acknowledges that everything we have, 300 00:17:14,230 --> 00:17:17,230 S2: as I said just a moment ago, ultimately comes from him. 301 00:17:17,590 --> 00:17:22,230 S2: And then offerings are those gifts given above and beyond 302 00:17:22,350 --> 00:17:28,070 S2: the tithe. And these are voluntary expressions of generosity for 303 00:17:28,070 --> 00:17:32,950 S2: specific needs or ministries or people. Now, Scripture never teaches 304 00:17:32,990 --> 00:17:37,140 S2: giving out of guilt or fear, nor does it ignore 305 00:17:37,180 --> 00:17:41,899 S2: financial pressures that are real. In Second Corinthians eight and nine, 306 00:17:41,900 --> 00:17:47,340 S2: Paul the apostle Paul emphasizes willingness, not the amount. Here's 307 00:17:47,340 --> 00:17:50,379 S2: what he says if the willingness is there, the gift 308 00:17:50,380 --> 00:17:55,100 S2: is acceptable according to what one has, not according to 309 00:17:55,140 --> 00:17:58,100 S2: what one does not have. So the idea here is 310 00:17:58,100 --> 00:18:01,100 S2: that God looks at the heart, not the size of 311 00:18:01,100 --> 00:18:04,619 S2: the gift. So I would say, if you're living paycheck 312 00:18:04,619 --> 00:18:08,300 S2: to paycheck and you're focused right now in this season 313 00:18:08,300 --> 00:18:12,899 S2: on getting a more solid financial foundation under you, it's 314 00:18:12,900 --> 00:18:15,900 S2: wise to focus first on caring for your household. We 315 00:18:15,900 --> 00:18:18,739 S2: see that in first Timothy five eight and getting to 316 00:18:18,780 --> 00:18:21,860 S2: a place of stability, and that's going to come once 317 00:18:21,859 --> 00:18:24,060 S2: you recognize God owns it all, which is a a 318 00:18:24,180 --> 00:18:28,620 S2: shift in perspective. Mechanically, that place of stability is going 319 00:18:28,660 --> 00:18:31,419 S2: to come from living within your means, which means you 320 00:18:31,460 --> 00:18:33,060 S2: got to have a budget. Which is why I'm so 321 00:18:33,060 --> 00:18:35,730 S2: thrilled you downloaded the Faith VI app? It's going to 322 00:18:35,730 --> 00:18:38,970 S2: mean reducing debt. It's going to mean getting an emergency 323 00:18:38,970 --> 00:18:42,609 S2: fund in place and building some margin. Something that's left 324 00:18:42,609 --> 00:18:45,609 S2: over at the end of the month. And as your 325 00:18:45,609 --> 00:18:49,770 S2: finances strengthen, then I think that's the opportunity for you 326 00:18:49,770 --> 00:18:52,850 S2: to give more freely and joyfully at the end of 327 00:18:52,850 --> 00:18:56,330 S2: the day, giving. Marty. It's a part of worship. It's 328 00:18:56,330 --> 00:19:00,129 S2: not a transaction. So start small if needed, whether that's 329 00:19:00,130 --> 00:19:04,210 S2: a few dollars. Uh, maybe it's giving some of your time. 330 00:19:04,250 --> 00:19:08,450 S2: Acts of service. The goal is to cultivate generosity rooted 331 00:19:08,450 --> 00:19:13,010 S2: in trust and hope and love, not burden. I think 332 00:19:13,010 --> 00:19:16,490 S2: God honors the desire to give more than the actual 333 00:19:16,490 --> 00:19:19,810 S2: gift itself. So those are just a few thoughts. Give 334 00:19:19,850 --> 00:19:21,450 S2: me your reaction to all that. 335 00:19:22,369 --> 00:19:26,890 S5: Amen. Rob. I feel so much better. I've been feeling 336 00:19:26,890 --> 00:19:32,130 S5: guilty not being able to give as much as the 337 00:19:32,130 --> 00:19:35,770 S5: other members of the church. I feel guilty when I 338 00:19:35,770 --> 00:19:39,210 S5: go to church sometimes I'm not the best dressed. But 339 00:19:39,250 --> 00:19:41,729 S5: all in all, what you just told me was that 340 00:19:42,050 --> 00:19:44,730 S5: God looks on the inward part. 341 00:19:45,010 --> 00:19:45,610 S2: That's right. 342 00:19:45,650 --> 00:19:49,889 S5: Yes. I'm reminded of whenever the lady gave the two mites. Yes. 343 00:19:49,930 --> 00:19:51,930 S5: And she gave all that she had. 344 00:19:52,010 --> 00:19:52,810 S2: That's right. 345 00:19:52,850 --> 00:19:56,490 S5: But it was acceptable in the sight of God. So 346 00:19:56,490 --> 00:19:58,929 S5: God bless you. And the whole team. 347 00:19:59,090 --> 00:20:01,770 S2: Well, thank you very much, Marty. I want to do 348 00:20:01,770 --> 00:20:04,170 S2: a couple of things for you. Just because I so 349 00:20:04,170 --> 00:20:07,690 S2: appreciate you and your your heart today and your desire 350 00:20:07,690 --> 00:20:10,370 S2: to to honor the Lord with what he's given you. Um, 351 00:20:10,410 --> 00:20:14,130 S2: I want to send you first a copy of our magazine. Uh, 352 00:20:14,130 --> 00:20:16,409 S2: I'm going to have the team send you. The magazine 353 00:20:16,450 --> 00:20:18,969 S2: is called Faithful Steward. It comes out every quarter. I'm 354 00:20:18,970 --> 00:20:21,610 S2: going to send you a copy of issue three, which 355 00:20:21,609 --> 00:20:24,770 S2: is a few issues ago, and one of our feature 356 00:20:24,770 --> 00:20:28,970 S2: articles was on the tithe. It's called tithing A Fresh 357 00:20:28,970 --> 00:20:31,760 S2: Look at an Ancient Practice. And I think it will 358 00:20:31,760 --> 00:20:33,679 S2: be an encouragement to you. So we'll put that in 359 00:20:33,680 --> 00:20:35,520 S2: the mail as our gift to you. The other thing 360 00:20:35,520 --> 00:20:37,440 S2: I'd be happy to do, if it would be of 361 00:20:37,440 --> 00:20:40,920 S2: help to you, is connect you with one of our 362 00:20:40,920 --> 00:20:45,040 S2: certified Christian financial counselors. Uh, these are men and women 363 00:20:45,040 --> 00:20:49,000 S2: who have been trained to do stewardship counseling around budgeting 364 00:20:49,000 --> 00:20:52,080 S2: and debt repayment. And, you know, it would just be 365 00:20:52,200 --> 00:20:55,600 S2: somebody who understands the heart of God in Scripture who 366 00:20:55,600 --> 00:20:58,400 S2: can really just come alongside you and be a sounding board, 367 00:20:58,400 --> 00:21:01,080 S2: provide some help to you as you put that budget 368 00:21:01,080 --> 00:21:03,680 S2: together and get the Faith VI app set up, and 369 00:21:03,680 --> 00:21:06,800 S2: we'll pay for that for that person's time to do that, 370 00:21:06,800 --> 00:21:09,200 S2: it won't cost you anything. Would that be helpful to you? 371 00:21:09,520 --> 00:21:12,400 S5: Uh. Stay up the Lord, Rob. I want to be 372 00:21:12,440 --> 00:21:15,359 S5: completely obedient to whatever God is doing. And I know 373 00:21:15,359 --> 00:21:19,800 S5: that you are and your team are God's Spirit filled. 374 00:21:19,840 --> 00:21:21,200 S5: I definitely believe that. 375 00:21:21,480 --> 00:21:22,080 S6: Uh. That's great. 376 00:21:22,080 --> 00:21:24,760 S2: Well, I'm thrilled to hear that. Marty, stay on the line. 377 00:21:24,760 --> 00:21:26,919 S2: Our team will get your information. We'll send you a 378 00:21:26,920 --> 00:21:29,639 S2: faithful steward. Issue three, and then we'll get you connected 379 00:21:29,640 --> 00:21:33,390 S2: with a certified Christian financial counselor. And listen, we want 380 00:21:33,430 --> 00:21:36,670 S2: to just walk alongside you, my friend, and help you 381 00:21:36,670 --> 00:21:39,230 S2: honor the Lord with what he's entrusted to you. That's 382 00:21:39,230 --> 00:21:42,109 S2: why we exist. Marty. Thanks for calling today. Stay on 383 00:21:42,109 --> 00:21:44,389 S2: the line. We'll get your information and get those things 384 00:21:44,390 --> 00:21:46,790 S2: right out to you. Lord bless you, my friend. We'll 385 00:21:46,790 --> 00:21:49,150 S2: take a quick break and then come back with much more. 386 00:21:49,150 --> 00:21:51,709 S2: Here's our goal to be an encouragement to you, to 387 00:21:51,750 --> 00:21:54,030 S2: point you back to God's Word and help you live 388 00:21:54,070 --> 00:21:57,310 S2: as a wise and faithful steward. Thanks for being with us. 389 00:21:57,310 --> 00:22:05,550 S2: More to come right after this. Thanks so much for 390 00:22:05,550 --> 00:22:08,629 S2: joining us today on Faith and Finance Live. I'm Rob West, 391 00:22:08,630 --> 00:22:11,710 S2: your host. Hey, our team is away from the studio today. 392 00:22:11,750 --> 00:22:14,430 S2: We're not here, but we've got some great questions that 393 00:22:14,430 --> 00:22:17,149 S2: we lined up in advance. I know you'll enjoy those 394 00:22:17,190 --> 00:22:19,510 S2: in just a moment. By the way, folks, have you 395 00:22:19,510 --> 00:22:22,790 S2: checked out recently? Our website at Faith. Com if not, 396 00:22:22,790 --> 00:22:25,310 S2: I'd encourage you to do that. You'll find our community 397 00:22:25,310 --> 00:22:28,270 S2: there where you can post questions and comments, hear from 398 00:22:28,420 --> 00:22:31,300 S2: others that are on the stewardship journey as well. You 399 00:22:31,300 --> 00:22:34,060 S2: can also access our content and check out the Faith 400 00:22:34,060 --> 00:22:37,060 S2: fi app. It's at Faith fi. All right, back to 401 00:22:37,100 --> 00:22:40,300 S2: the phones. We go to Oklahoma. Eric. Go ahead. 402 00:22:41,140 --> 00:22:41,820 S5: Uh, I. 403 00:22:41,820 --> 00:22:45,060 S7: Was just had a question about. We currently have some 404 00:22:45,060 --> 00:22:48,740 S7: funds that are invested with an advisor, and my wife 405 00:22:48,740 --> 00:22:51,460 S7: and I are looking at trying to maybe retire a 406 00:22:51,460 --> 00:22:53,460 S7: little bit early in a couple of years. But are 407 00:22:53,460 --> 00:22:57,260 S7: there some good investments that would be very secure where 408 00:22:57,260 --> 00:23:02,100 S7: we could possibly manage that ourself and avoid a lot 409 00:23:02,100 --> 00:23:02,820 S7: of risk? 410 00:23:03,340 --> 00:23:03,859 S6: Yeah. 411 00:23:04,340 --> 00:23:07,500 S2: Are you trying to mainly just get more conservative? Is 412 00:23:07,500 --> 00:23:10,260 S2: that the objective in kind of bringing this back from 413 00:23:10,260 --> 00:23:13,340 S2: an advisor to managing it yourself, or is it about, 414 00:23:13,380 --> 00:23:16,420 S2: you know, saving on the the fees that are associated 415 00:23:16,420 --> 00:23:19,500 S2: with hiring an advisor? What is your primary objective in that? 416 00:23:20,619 --> 00:23:23,780 S7: It's kind of all all of the above. We don't 417 00:23:23,780 --> 00:23:26,580 S7: necessarily I mean we would like some gains, but they 418 00:23:26,580 --> 00:23:29,690 S7: don't have to be massive. And then we would like 419 00:23:29,690 --> 00:23:32,530 S7: to avoid as many fees as we could as well. 420 00:23:32,690 --> 00:23:36,210 S2: Yeah, yeah. Uh, you know, I'll challenge that a little 421 00:23:36,250 --> 00:23:39,210 S2: bit only because, you know, here's the idea. I mean, 422 00:23:39,210 --> 00:23:42,129 S2: you work your whole life to amass a nest egg. 423 00:23:42,330 --> 00:23:45,290 S2: The idea is, and it sounds like you're in this position, 424 00:23:45,290 --> 00:23:48,730 S2: that you accumulate enough so that you can get, you know, 425 00:23:48,890 --> 00:23:51,490 S2: quite a bit more conservative than you were during your 426 00:23:51,490 --> 00:23:54,850 S2: working years where you're trying to grow your this wealth. 427 00:23:54,850 --> 00:23:57,609 S2: You've now sitting on this nest egg and we go from, 428 00:23:57,770 --> 00:24:02,650 S2: you know, capital appreciation as a primary objective to capital preservation. 429 00:24:02,650 --> 00:24:04,930 S2: So we're trying to preserve what you've got. But at 430 00:24:04,930 --> 00:24:09,930 S2: the same time we're trying to outpace inflation. And I 431 00:24:09,970 --> 00:24:14,850 S2: suspect be able to provide you a reasonable income alongside 432 00:24:14,850 --> 00:24:19,250 S2: other guaranteed income sources, namely Social Security. And maybe, you know, 433 00:24:19,250 --> 00:24:21,530 S2: if you have a pension or something like that. So 434 00:24:21,530 --> 00:24:23,930 S2: if you're in that position and you're looking to pull, 435 00:24:23,970 --> 00:24:27,530 S2: let's say, 4% a year, which is, you know, often 436 00:24:27,530 --> 00:24:30,770 S2: cited as the amount you should be able to withdraw 437 00:24:30,810 --> 00:24:35,970 S2: on an annual basis and maintain the balance, even grow 438 00:24:35,970 --> 00:24:38,609 S2: it a little bit, because we realize your purchasing power 439 00:24:38,730 --> 00:24:42,250 S2: is declining with inflation. You know, then that's something where 440 00:24:42,250 --> 00:24:46,210 S2: a fairly conservative portfolio, you know, should do the trick. Now, 441 00:24:46,410 --> 00:24:50,370 S2: in terms of when I say a conservative portfolio, you know, 442 00:24:50,410 --> 00:24:53,250 S2: given the things that I said about generating the income 443 00:24:53,250 --> 00:24:57,730 S2: and offsetting inflation, I mean, even at 65, I'd still 444 00:24:57,770 --> 00:25:01,290 S2: be thinking about, you know, somewhere between 40 and 45% 445 00:25:01,290 --> 00:25:06,010 S2: in stocks, maybe 55 to 60% in what I'll call 446 00:25:06,010 --> 00:25:08,689 S2: the fixed income category. And we'll talk about what that 447 00:25:08,690 --> 00:25:12,810 S2: means in a moment. Uh, because of what's called longevity risk. 448 00:25:12,850 --> 00:25:15,770 S2: I mean, the fact that we're living longer and obviously 449 00:25:15,770 --> 00:25:17,609 S2: only the Lord knows the day or the hour he 450 00:25:17,609 --> 00:25:19,930 S2: will call us home. And that could be at any moment, 451 00:25:19,930 --> 00:25:22,890 S2: of course. But at the same time, we just recognize 452 00:25:22,890 --> 00:25:26,119 S2: on the average we're living longer and as a result, 453 00:25:26,119 --> 00:25:28,040 S2: one of your biggest risks in this season of life 454 00:25:28,040 --> 00:25:30,960 S2: is that you outlive your money. And given the effects 455 00:25:30,960 --> 00:25:34,000 S2: of inflation and your need to provide income, we still 456 00:25:34,000 --> 00:25:39,320 S2: want a growth component in the portfolio typically, um, so that, 457 00:25:39,359 --> 00:25:41,600 S2: you know, we have something that's going to, you know, 458 00:25:41,640 --> 00:25:46,280 S2: boost the returns slightly, still be in a very conservative posture. 459 00:25:46,560 --> 00:25:48,440 S2: But the nice thing is, even if we got into 460 00:25:48,440 --> 00:25:52,400 S2: a prolonged recession, that portion of the portfolio, you would 461 00:25:52,400 --> 00:25:54,720 S2: never touch it. You'd wait for it to come back. 462 00:25:54,720 --> 00:25:58,200 S2: And at least historically speaking, it always does. And so 463 00:25:58,200 --> 00:26:01,440 S2: that gives you a growth component alongside the fixed income. 464 00:26:01,440 --> 00:26:03,960 S2: And you put all that together. And it, you know, 465 00:26:04,000 --> 00:26:06,720 S2: usually does the trick in terms of accomplishing the goals 466 00:26:06,720 --> 00:26:09,879 S2: that I mentioned. Now what goes into that fixed income category. 467 00:26:09,880 --> 00:26:13,280 S2: Well that could be a combination of, you know, money market. 468 00:26:13,320 --> 00:26:17,040 S2: It could be some CDs. Laddered. So everything's not locked 469 00:26:17,040 --> 00:26:20,320 S2: up at once. It could be some US treasuries like 470 00:26:20,359 --> 00:26:23,949 S2: Treasury bills, bonds and notes which are backed by the 471 00:26:23,950 --> 00:26:27,470 S2: US government. But it could also be, you know, things 472 00:26:27,470 --> 00:26:32,109 S2: like corporate bonds, very, you know, high quality, uh, you know, 473 00:26:32,150 --> 00:26:36,350 S2: high grade corporate bonds that are producing an income. Um, 474 00:26:36,350 --> 00:26:39,070 S2: you know, maybe in a basket like a mutual fund 475 00:26:39,230 --> 00:26:42,869 S2: of bonds. Uh, it could also be some other, you know, 476 00:26:42,910 --> 00:26:47,350 S2: things in that bucket of fixed income, I'd probably, you know, put, uh, 477 00:26:47,390 --> 00:26:51,030 S2: somewhere between a five and a 10% allocation to gold. Uh, 478 00:26:51,030 --> 00:26:54,150 S2: some people take even maybe 2 or 3% of that 479 00:26:54,150 --> 00:26:56,870 S2: and put it in crypto. So, I mean, there's various 480 00:26:56,869 --> 00:27:01,429 S2: things you can put in this, you know, more fixed income, 481 00:27:01,550 --> 00:27:05,629 S2: conservative oriented bucket that, you know, when you put it 482 00:27:05,630 --> 00:27:08,110 S2: all together, it accomplishes what you want. And you do 483 00:27:08,109 --> 00:27:12,430 S2: that alongside a smaller percentage that's in some really high 484 00:27:12,470 --> 00:27:16,990 S2: quality dividend paying stocks. And you have a pretty nice portfolio. Now, 485 00:27:16,990 --> 00:27:19,229 S2: the challenge is if you're going to try to do 486 00:27:19,230 --> 00:27:21,270 S2: all that yourself, it's going to require quite a bit 487 00:27:21,270 --> 00:27:23,940 S2: of time and even, I'll say, some expertise in terms 488 00:27:23,940 --> 00:27:26,820 S2: of selecting all of those investments that are going to 489 00:27:26,859 --> 00:27:31,100 S2: make up that properly diversified portfolio that's appropriate for your 490 00:27:31,100 --> 00:27:33,979 S2: age and risk tolerance. So that's why I'd probably come 491 00:27:34,020 --> 00:27:37,900 S2: full circle and say, just given what you've done to 492 00:27:37,940 --> 00:27:41,340 S2: amass this over all these years, this is probably not 493 00:27:41,340 --> 00:27:43,740 S2: the time to pull it away from an advisor for 494 00:27:43,740 --> 00:27:46,100 S2: the reasons I mentioned. But give me your thoughts on 495 00:27:46,100 --> 00:27:46,619 S2: all that. 496 00:27:47,220 --> 00:27:50,100 S7: Well, I think what you said makes perfect sense, and 497 00:27:50,100 --> 00:27:53,619 S7: because I don't, while I might have some of the knowledge, 498 00:27:53,619 --> 00:27:57,780 S7: I don't have the expertise. So just assuming and keeping 499 00:27:57,780 --> 00:28:03,220 S7: those things in mind, what is a fair fee or 500 00:28:03,220 --> 00:28:07,340 S7: percentage that that I would pay someone to manage those funds? 501 00:28:07,500 --> 00:28:09,899 S2: Yeah, it's a good question. If you don't mind me asking, 502 00:28:09,900 --> 00:28:13,540 S2: what's the approximate amount of assets under management? 503 00:28:14,260 --> 00:28:19,460 S7: Uh, right now what's under management is around 600,000. And 504 00:28:19,460 --> 00:28:22,220 S7: there's there's more we could put in there as well. 505 00:28:22,619 --> 00:28:24,340 S7: But that's where it is right now. 506 00:28:24,380 --> 00:28:27,219 S2: Yeah. I mean, I would say on a portfolio somewhere 507 00:28:27,220 --> 00:28:29,820 S2: between a half a million and $1 million would be, 508 00:28:30,140 --> 00:28:34,220 S2: you know, somewhere between 1 and 1.25% a year, typically. 509 00:28:35,100 --> 00:28:35,540 S7: Okay. 510 00:28:35,859 --> 00:28:39,340 S2: Yeah. So on $1 million, you're talking $10,000. And, you know, 511 00:28:39,380 --> 00:28:42,740 S2: it would come down from there. Um, but the idea 512 00:28:42,740 --> 00:28:46,580 S2: would be that the advisor should be able to both 513 00:28:46,580 --> 00:28:50,740 S2: in the form of, you know, improved returns, not to 514 00:28:50,780 --> 00:28:55,300 S2: mention also just the tax efficiency with which they can 515 00:28:55,300 --> 00:28:58,380 S2: help you think about this portfolio, because that's one of 516 00:28:58,380 --> 00:29:01,060 S2: the other key ideas here, is that, you know, as 517 00:29:01,060 --> 00:29:06,100 S2: you begin to move into a spending or a decumulation phase, 518 00:29:06,100 --> 00:29:11,140 S2: if you will, capital distribution of the portfolio. There's often 519 00:29:11,140 --> 00:29:14,740 S2: some complex tax planning and Social Security timing and and 520 00:29:14,740 --> 00:29:18,970 S2: what's called withdrawal sequencing. So that's a risk that you 521 00:29:18,970 --> 00:29:20,930 S2: have if you know, if you don't think about that 522 00:29:20,930 --> 00:29:24,250 S2: in the proper way. So a tax efficient withdrawal strategy 523 00:29:24,250 --> 00:29:26,530 S2: is also another way that they can, uh, you know, 524 00:29:26,570 --> 00:29:29,330 S2: help you save money. So I would say between the 525 00:29:29,370 --> 00:29:33,170 S2: improved returns and the tax efficiency, they should be able 526 00:29:33,170 --> 00:29:37,410 S2: to offset that 1% and then some, and then ensure that, 527 00:29:37,450 --> 00:29:40,170 S2: you know, you're you're not taking unnecessary risk, but that 528 00:29:40,170 --> 00:29:43,890 S2: you're also seeing the portfolio at least maintain its its 529 00:29:43,890 --> 00:29:46,890 S2: balance depending on your withdrawal rate. If not, grow a 530 00:29:46,890 --> 00:29:47,890 S2: little bit over time. 531 00:29:48,530 --> 00:29:51,730 S7: Okay. Well, I appreciate the information very much. 532 00:29:51,890 --> 00:29:54,370 S2: Absolutely. And listen, if you've got a great relationship with 533 00:29:54,370 --> 00:29:56,890 S2: your advisor, you could just stay put if you feel 534 00:29:56,890 --> 00:29:58,690 S2: like it's not what you'd want it to be in 535 00:29:58,690 --> 00:30:02,890 S2: terms of not only just the investment results and the communication, 536 00:30:02,890 --> 00:30:05,810 S2: but also the other planning that goes alongside it is 537 00:30:05,810 --> 00:30:08,130 S2: the advisor being proactive to reach out to you. And 538 00:30:08,130 --> 00:30:11,250 S2: do you feel like there's, you know, conversations around tax 539 00:30:11,250 --> 00:30:14,729 S2: efficiency and, and other things, not to mention just estate 540 00:30:14,730 --> 00:30:17,560 S2: planning and some of the making sure you're covered there. 541 00:30:17,920 --> 00:30:20,760 S2: You know, you could reach out to a few other advisors, 542 00:30:20,760 --> 00:30:23,400 S2: do some interviews, and find the one that's the best fit. 543 00:30:23,440 --> 00:30:25,560 S2: If you were looking for a replacement, I'd had to 544 00:30:25,560 --> 00:30:29,560 S2: find a. Com and search for a certified Kingdom advisor 545 00:30:29,560 --> 00:30:32,120 S2: in Oklahoma. But if you're good where you're at, just 546 00:30:32,120 --> 00:30:34,920 S2: stay the course. It sounds like, you know, there's a 547 00:30:34,920 --> 00:30:38,280 S2: good likelihood you may already have that relationship in place. 548 00:30:38,320 --> 00:30:40,120 S2: We appreciate your call. Hey, stay on the line. I'm 549 00:30:40,120 --> 00:30:42,960 S2: going to send you a book that I think you'll enjoy. 550 00:30:42,960 --> 00:30:46,800 S2: It's called An Uncommon Guide to Retirement. It's really retirement 551 00:30:46,800 --> 00:30:49,240 S2: from a biblical worldview that may give you a few 552 00:30:49,240 --> 00:30:51,800 S2: other things to think about. It's our gift to you today, Eric, 553 00:30:51,800 --> 00:30:53,719 S2: and I'd be delighted to send it to you. So 554 00:30:53,720 --> 00:30:56,080 S2: just hang on the line and we'll get your information 555 00:30:56,080 --> 00:31:06,720 S2: back after this. Stay with us. We're so glad you've 556 00:31:06,720 --> 00:31:09,560 S2: joined us for Faith and Finance Live today here in 557 00:31:09,560 --> 00:31:12,040 S2: our final segment, let me remind you not to call 558 00:31:12,040 --> 00:31:14,600 S2: in because we're not live today. But we'd love for 559 00:31:14,600 --> 00:31:17,790 S2: you to stick around and enjoy the rest of the program. 560 00:31:17,950 --> 00:31:20,150 S2: Let's head back to the phones. We're going to go 561 00:31:20,150 --> 00:31:22,390 S2: to Mississippi and welcome Rose. Go ahead. 562 00:31:23,150 --> 00:31:27,870 S8: I'm calling in regards to property that my mother purchased 563 00:31:27,910 --> 00:31:32,390 S8: with an uncle in Oklahoma. I'm from Omaha, Nebraska. I 564 00:31:32,390 --> 00:31:35,950 S8: recently found it was sent to me some papers, some 565 00:31:35,950 --> 00:31:39,750 S8: information in regards to the sale of that property. The 566 00:31:39,750 --> 00:31:44,550 S8: money was distributed to some family members that I'm aware of. 567 00:31:44,590 --> 00:31:47,670 S8: Their names. That's on the paper. But there's some names 568 00:31:47,670 --> 00:31:50,870 S8: that I know that aren't family members. It seems like 569 00:31:50,870 --> 00:31:54,830 S8: something went terribly wrong with the honesty of the sale 570 00:31:54,830 --> 00:31:57,469 S8: of the property. It had a coyote wood on it. 571 00:31:57,510 --> 00:32:01,870 S8: It was about ten acres. I'm wondering, under the circumstances, 572 00:32:02,030 --> 00:32:05,630 S8: do I have a way or means to look into this, 573 00:32:05,630 --> 00:32:08,670 S8: to see if the property was stolen? I mean, the 574 00:32:08,710 --> 00:32:11,510 S8: funds that came from the sale of the property was 575 00:32:11,510 --> 00:32:13,989 S8: stolen from me and my brother, who passed away in 576 00:32:13,990 --> 00:32:17,030 S8: win 2016. You understand what I'm saying? 577 00:32:17,070 --> 00:32:17,630 S6: I sure do. 578 00:32:17,670 --> 00:32:19,790 S2: Yeah. So what you would typically want to do in 579 00:32:19,790 --> 00:32:22,470 S2: a situation like this, I mean, where there's an improper 580 00:32:22,470 --> 00:32:25,510 S2: distribution based on a will, do you know whether there 581 00:32:25,510 --> 00:32:27,190 S2: was a valid will in place? 582 00:32:27,790 --> 00:32:28,710 S8: I sure don't. 583 00:32:28,950 --> 00:32:33,230 S2: Okay. So you'd probably want to contact an attorney. Rose, 584 00:32:33,230 --> 00:32:36,590 S2: just to help you navigate this. They can petition the 585 00:32:36,590 --> 00:32:42,150 S2: court and talk to the executor of the estate. The estate? 586 00:32:42,510 --> 00:32:45,350 S2: Who would be the person if there's a valid will, 587 00:32:45,350 --> 00:32:48,390 S2: if the deceased had a will. The court then appoints 588 00:32:48,430 --> 00:32:51,990 S2: a person named in the will as executor. And they 589 00:32:51,990 --> 00:32:57,670 S2: have several important responsibilities, including, you know, distributing the deceased's 590 00:32:57,710 --> 00:33:02,630 S2: assets according to the terms of the will and the executor, should, 591 00:33:02,670 --> 00:33:06,030 S2: you know, always take great care in doing that, as 592 00:33:06,430 --> 00:33:10,630 S2: an improper distribution is often a cause for a legal dispute. 593 00:33:10,830 --> 00:33:14,060 S2: And so if you have a question about how that 594 00:33:14,060 --> 00:33:17,700 S2: went down. I would contact an attorney who can petition 595 00:33:17,700 --> 00:33:21,500 S2: the court and then get the details on the probate process. 596 00:33:21,500 --> 00:33:24,700 S2: Who was the executor, was there a valid will in place? 597 00:33:24,700 --> 00:33:28,420 S2: And this property that was liquidated should have been distributed 598 00:33:28,420 --> 00:33:31,020 S2: in accordance with that will? If there was no will, 599 00:33:31,340 --> 00:33:36,300 S2: then that person is considered to be intestate. And again 600 00:33:36,340 --> 00:33:41,060 S2: the estate or the probate court then would distribute according 601 00:33:41,100 --> 00:33:41,980 S2: to state law. 602 00:33:43,020 --> 00:33:46,860 S8: Okay. Yes, sir. I thought there was something that was 603 00:33:46,860 --> 00:33:48,380 S8: just not done right here. 604 00:33:48,540 --> 00:33:51,220 S2: Yeah. So I think it's worth looking into. And if 605 00:33:51,220 --> 00:33:53,300 S2: you don't have an attorney that, you know, perhaps you 606 00:33:53,300 --> 00:33:55,380 S2: reach out to your church and ask for a referral, 607 00:33:55,380 --> 00:33:58,460 S2: or you could connect with a certified Kingdom advisor, rose 608 00:33:58,460 --> 00:34:01,020 S2: in your area and ask for a referral as well. 609 00:34:01,020 --> 00:34:05,020 S2: Just go to Faith comm, click find a professional. But, um, 610 00:34:05,140 --> 00:34:06,780 S2: I hope you get this sorted out. I know this 611 00:34:06,780 --> 00:34:10,380 S2: can be, uh, a little concerning, but I'm sure there's 612 00:34:10,420 --> 00:34:13,490 S2: an answer here that you can get to the bottom 613 00:34:13,489 --> 00:34:16,049 S2: of if you follow the right channels. We appreciate your 614 00:34:16,050 --> 00:34:18,569 S2: call today. May the Lord bless you. Let's go to Illinois. Bill, 615 00:34:18,570 --> 00:34:19,930 S2: thanks for your patience. Go ahead. 616 00:34:20,930 --> 00:34:22,649 S9: Thank you for taking my call. All right. I'm going 617 00:34:22,650 --> 00:34:28,090 S9: to get right to it. Okay. On January 27th of 2025, uh, 618 00:34:28,130 --> 00:34:34,089 S9: I started taking my Social Security. Uh, I'm 67 now. 619 00:34:34,130 --> 00:34:36,969 S9: I waited till I was 66 years and eight months, 620 00:34:36,969 --> 00:34:40,209 S9: and that was my full retirement age. And, uh. But 621 00:34:40,210 --> 00:34:43,410 S9: I have not quit my job. I'm still working full time. 622 00:34:43,850 --> 00:34:50,250 S9: I'm earning around 85,000 a year as a truck driver, and, um, so. 623 00:34:50,290 --> 00:34:54,770 S9: But I'm supposed to be seeing an increase on my earnings. 624 00:34:55,130 --> 00:34:59,169 S9: And so when I filed my taxes in 2025, uh, 625 00:34:59,170 --> 00:35:04,050 S9: I hadn't even filed my 2024 taxes yet. And so 626 00:35:05,090 --> 00:35:07,770 S9: I'm supposed to be seeing this increase. Well, anyway, I've 627 00:35:07,770 --> 00:35:12,239 S9: called probably 20 times to the Social Security office, and 628 00:35:12,239 --> 00:35:15,040 S9: I've literally had at least one person tell me it 629 00:35:15,040 --> 00:35:18,879 S9: wasn't worth her time for her to recalculate my earnings. 630 00:35:18,920 --> 00:35:19,520 S6: Oh, wow. 631 00:35:19,719 --> 00:35:23,240 S9: So I guess my I guess my question is, is 632 00:35:23,239 --> 00:35:25,960 S9: there an organization or am I going to have to 633 00:35:26,000 --> 00:35:29,960 S9: hire an attorney to look into this matter? Because now 634 00:35:30,000 --> 00:35:32,439 S9: now they're going to be two years behind because it's yeah, 635 00:35:32,480 --> 00:35:38,800 S9: there's it's called a. Oh that's right. Automatic earnings reappraisal operation. 636 00:35:39,560 --> 00:35:42,880 S9: And my earnings is still the same as it was 637 00:35:42,880 --> 00:35:46,040 S9: when I first took it out in January 27th of 638 00:35:46,040 --> 00:35:51,000 S9: 25 before I even filed my 24 taxes. And I'm 639 00:35:51,040 --> 00:35:54,560 S9: so now I'm still at $2,870 a month, and I'm 640 00:35:54,560 --> 00:35:56,000 S9: still getting that same amount. 641 00:35:56,239 --> 00:35:59,320 S2: Yeah, well, I suspect this is basically. 642 00:35:59,440 --> 00:35:59,760 S6: A. 643 00:35:59,920 --> 00:36:05,640 S2: Lag, uh, due to the administrative function of this. Uh, 644 00:36:05,640 --> 00:36:09,069 S2: so you're exactly right. This is supposed to happen Automatically 645 00:36:09,070 --> 00:36:14,110 S2: typically does. It's referred to as that automatic earnings recalculation operation. 646 00:36:14,270 --> 00:36:17,590 S2: But the most likely reason you haven't seen that increase 647 00:36:17,910 --> 00:36:23,150 S2: is that they typically run the automated recalculation process in 648 00:36:23,150 --> 00:36:27,670 S2: October or November of the following year. So for example, 649 00:36:27,670 --> 00:36:30,950 S2: if you've worked in 2025 and you replaced one of 650 00:36:30,950 --> 00:36:35,430 S2: those high 35 earnings years because your Social Security benefits 651 00:36:35,430 --> 00:36:39,350 S2: are based on your highest 35 years of earnings and 652 00:36:39,350 --> 00:36:42,589 S2: you replaced one of those, the system generally will not 653 00:36:42,590 --> 00:36:47,670 S2: process those earnings until October or November of 2026, which 654 00:36:47,670 --> 00:36:51,230 S2: would be this year. So once it runs, then if 655 00:36:51,230 --> 00:36:55,270 S2: an increase is due, they pay you a lump sum 656 00:36:55,469 --> 00:37:01,390 S2: retroactively dating back to January of that year. That's often 657 00:37:01,390 --> 00:37:04,069 S2: how that will work. Would that sync up with the 658 00:37:04,070 --> 00:37:06,430 S2: timing of what you're talking about, or would that still 659 00:37:06,630 --> 00:37:11,350 S2: mean given that timeline, that you're missing something there. 660 00:37:11,350 --> 00:37:16,989 S9: I'm still missing because they haven't even Refigured 2020 for taxes, 661 00:37:16,989 --> 00:37:19,469 S9: and now we're already into 2026. 662 00:37:19,510 --> 00:37:21,710 S2: Okay. Yeah. So this was 24. Yeah. Normally that would 663 00:37:21,750 --> 00:37:25,830 S2: have been done in late 2025. Now the next question 664 00:37:25,830 --> 00:37:29,910 S2: is are you sure that you exceeded one of those 665 00:37:29,910 --> 00:37:31,070 S2: high 35. 666 00:37:32,310 --> 00:37:35,830 S9: Oh yeah I went back 35 years. And so in uh, 667 00:37:35,830 --> 00:37:39,589 S9: basically if you go backwards, uh, to it would have 668 00:37:39,590 --> 00:37:42,589 S9: made it like a 1994 for me. And I made 669 00:37:42,630 --> 00:37:44,230 S9: 25,000 that year. 670 00:37:44,430 --> 00:37:45,750 S2: Yeah, yeah. Okay. 671 00:37:45,790 --> 00:37:50,030 S9: So obviously 85,000 now 20 something ought to be dropping 672 00:37:50,030 --> 00:37:51,830 S9: off and something ought to be increasing. 673 00:37:52,030 --> 00:37:54,750 S2: Yeah. Uh, have you gone in? This would be the 674 00:37:54,750 --> 00:37:57,350 S2: next step I would take, which doesn't involve you getting 675 00:37:57,350 --> 00:37:59,589 S2: on the phone and waiting on hold again. Have you 676 00:37:59,630 --> 00:38:03,910 S2: gone to Ssa.gov and looked at your earnings history to 677 00:38:03,950 --> 00:38:07,020 S2: see if it's accurate and that that your most recent 678 00:38:07,020 --> 00:38:08,219 S2: wages are posted? 679 00:38:08,700 --> 00:38:09,299 S9: Yes. 680 00:38:09,620 --> 00:38:10,620 S2: And are they there? 681 00:38:10,820 --> 00:38:11,700 S9: Yes. They're there. 682 00:38:11,980 --> 00:38:15,460 S2: Okay. Yeah. Well, you're doing all the right things. I mean, 683 00:38:15,460 --> 00:38:17,100 S2: normally what you would do is you would go and 684 00:38:17,100 --> 00:38:20,859 S2: you'd verify that the earnings history is accurate. Make sure 685 00:38:20,860 --> 00:38:23,939 S2: the recent wages are posted. And then if nothing changed, 686 00:38:23,980 --> 00:38:27,060 S2: you know, by the end of the following year of 687 00:38:27,060 --> 00:38:30,260 S2: the earnings that we're talking about, you'd call Social Security 688 00:38:30,260 --> 00:38:32,580 S2: and say, do my current earnings replace any of my 689 00:38:32,620 --> 00:38:37,380 S2: lowest 35 and has arrow been applied yet? And you know, 690 00:38:37,420 --> 00:38:40,779 S2: that would get very specific. And you know if the 691 00:38:40,820 --> 00:38:46,420 S2: earnings qualify it should happen automatically. Um, and you know 692 00:38:46,460 --> 00:38:50,540 S2: normally it's fairly modest maybe less than you think. But uh, 693 00:38:50,540 --> 00:38:53,379 S2: you know, it is an automated calculation that happens for 694 00:38:53,380 --> 00:38:56,980 S2: everybody across the board. So I think, you know, perhaps 695 00:38:57,180 --> 00:38:59,700 S2: it just hasn't kicked in yet. I mean, maybe, you know, 696 00:38:59,739 --> 00:39:03,140 S2: with the shutdown, uh, that happened last year. Maybe they're 697 00:39:03,140 --> 00:39:06,009 S2: just running behind. I haven't heard that for sure, but 698 00:39:06,010 --> 00:39:09,810 S2: I would suspect before you start hiring attorneys, I would 699 00:39:09,810 --> 00:39:12,009 S2: just kind of sit tight and see if that doesn't 700 00:39:12,010 --> 00:39:15,170 S2: solve itself here in the first quarter of 2026. Does 701 00:39:15,170 --> 00:39:15,890 S2: that make sense? 702 00:39:16,690 --> 00:39:17,250 S9: Okay. 703 00:39:17,290 --> 00:39:18,250 S2: All right. Yes. 704 00:39:18,250 --> 00:39:19,810 S9: That makes a lot of sense. Thank you. Rob. 705 00:39:19,850 --> 00:39:22,049 S2: All right. God bless you, my friend. Thanks for your call. 706 00:39:22,050 --> 00:39:26,330 S2: Sorry about your frustration there. Quickly to Arkansas. Seana how 707 00:39:26,330 --> 00:39:27,010 S2: can I help. 708 00:39:27,450 --> 00:39:28,490 S10: Hi how are you. 709 00:39:28,530 --> 00:39:29,970 S2: Doing great. Thanks for your call. 710 00:39:30,850 --> 00:39:34,089 S10: Um thank you for taking my call. Um to the 711 00:39:34,090 --> 00:39:36,089 S10: point real quickly I know you're going to run out 712 00:39:36,090 --> 00:39:39,730 S10: of time. My husband and I just downsized. When we 713 00:39:39,770 --> 00:39:42,529 S10: sold our big house and bought this smaller house, we 714 00:39:42,530 --> 00:39:45,009 S10: paid off all of our debt. We've got a pretty 715 00:39:45,050 --> 00:39:49,810 S10: nice nest egg. I'm 60 this year. He's 67, and 716 00:39:49,850 --> 00:39:52,890 S10: I hope to never retire. But if I do, I'm 717 00:39:53,050 --> 00:39:56,810 S10: multiple years down the line. So my question ultimately is, 718 00:39:56,850 --> 00:40:00,529 S10: is should we pay extra on the principal and try 719 00:40:00,530 --> 00:40:05,040 S10: and get our house paid off really, really quickly or 720 00:40:05,400 --> 00:40:08,600 S10: just keep paying the house payment. It's under $1,000. It's 721 00:40:08,600 --> 00:40:13,640 S10: an easy, manageable payment will help less than 120,000 on it. 722 00:40:13,640 --> 00:40:16,400 S2: Yeah. What is the interest rate on that, Shauna? 723 00:40:17,600 --> 00:40:19,560 S10: Uh, 6.125. 724 00:40:19,760 --> 00:40:22,600 S2: Okay. Yeah. And what would you do with the money 725 00:40:22,600 --> 00:40:25,759 S2: or what is the money doing that you would put 726 00:40:25,760 --> 00:40:28,920 S2: toward the house if you didn't try to accelerate that payoff. 727 00:40:30,520 --> 00:40:33,959 S10: Just to continue to save it or to travel, you know. 728 00:40:34,000 --> 00:40:34,360 S2: Yeah. 729 00:40:34,520 --> 00:40:35,520 S10: Enjoy life. 730 00:40:35,560 --> 00:40:38,319 S2: Yeah. Well, I would say I mean, I like the 731 00:40:38,320 --> 00:40:41,040 S2: idea of you all enjoying what God has provided. I 732 00:40:41,040 --> 00:40:43,000 S2: don't think there's ever anything wrong with paying off debt. 733 00:40:43,000 --> 00:40:45,520 S2: That's a good thing. And if you could get out 734 00:40:45,520 --> 00:40:48,480 S2: from under this mortgage payment, that would just even give 735 00:40:48,480 --> 00:40:52,360 S2: you a stronger foundation, because even though it's manageable, dropping 736 00:40:52,360 --> 00:40:55,359 S2: that largest monthly expense would probably help quite a bit 737 00:40:55,400 --> 00:40:58,759 S2: in terms of just giving you even more margin to 738 00:40:58,800 --> 00:41:02,359 S2: save and give and enjoy. Um, you know, it's really 739 00:41:02,360 --> 00:41:03,799 S2: at the end of the day, it comes down to 740 00:41:03,840 --> 00:41:06,919 S2: the math gap between your mortgage interest rate and your 741 00:41:06,920 --> 00:41:10,400 S2: savings yield, if that's where this money is going to stay. Um, 742 00:41:10,440 --> 00:41:13,000 S2: and there's no way you're going to get anywhere near, 743 00:41:13,120 --> 00:41:16,320 S2: you know, a guaranteed six plus percent rate of return 744 00:41:16,320 --> 00:41:19,080 S2: on your savings or anything close to it. Even if 745 00:41:19,080 --> 00:41:23,360 S2: you invest it, there's no guarantee you're going to get 6.5%. 746 00:41:23,360 --> 00:41:26,719 S2: So from a math equation standpoint, it's going to be 747 00:41:26,719 --> 00:41:29,359 S2: better for you all to accelerate the home payoff in 748 00:41:29,400 --> 00:41:34,120 S2: terms of the total dollars that you realize from that. Now, 749 00:41:34,360 --> 00:41:36,800 S2: if you all want to enjoy some of this, and 750 00:41:36,800 --> 00:41:39,040 S2: this is that season of life where you've got, you know, 751 00:41:39,080 --> 00:41:42,560 S2: your health and you've got the physical ability to travel 752 00:41:42,560 --> 00:41:45,080 S2: and enjoy that. I like that a lot. And I 753 00:41:45,080 --> 00:41:48,279 S2: would say, you know, do that, uh, you know, as 754 00:41:48,280 --> 00:41:50,560 S2: you think through your overall plan and what you have 755 00:41:50,560 --> 00:41:55,600 S2: available and, you know, if, if you, you know, putting 100% 756 00:41:55,840 --> 00:41:58,680 S2: of your surplus toward this home payoff means it's going 757 00:41:58,719 --> 00:42:00,830 S2: to require you to pull back a little bit on 758 00:42:00,830 --> 00:42:03,390 S2: some of those things you'd like to enjoy, within reason. 759 00:42:03,830 --> 00:42:07,430 S2: You know, I'd probably opt for taking that trip once 760 00:42:07,430 --> 00:42:12,670 S2: a year and then maybe spending a few extra payments. Uh, 761 00:42:12,670 --> 00:42:16,870 S2: you know, less directly toward principal. Maybe you split the difference. 762 00:42:16,870 --> 00:42:19,589 S2: But I would say, apart from you enjoying it, at 763 00:42:19,590 --> 00:42:22,669 S2: the end of the day, the best financial move is 764 00:42:22,670 --> 00:42:25,029 S2: going to be paying down that mortgage. So I would 765 00:42:25,030 --> 00:42:28,030 S2: just find the balance between the two. Does that make sense? 766 00:42:29,510 --> 00:42:32,510 S10: It surely does. And that's where we were. You just 767 00:42:32,510 --> 00:42:35,270 S10: confirmed what we were talking about. Well, I appreciate you. 768 00:42:35,270 --> 00:42:35,950 S10: Thank you. 769 00:42:35,989 --> 00:42:38,670 S2: Absolutely, Shauna. Lord bless you. Well, that's going to do 770 00:42:38,670 --> 00:42:41,150 S2: it for us today. Faith and Finance Live is a 771 00:42:41,150 --> 00:42:43,950 S2: partnership between Moody Radio and Faith fi. Thank you to 772 00:42:43,989 --> 00:42:47,630 S2: my amazing broadcast team. I couldn't do this without them. 773 00:42:47,630 --> 00:42:49,230 S2: I hope you have a great rest of your day, 774 00:42:49,230 --> 00:42:52,430 S2: and we'll see you next time on Faith and finance live.