1 00:00:03,080 --> 00:00:06,800 S1: Today's faith and finance live is actually not live. So 2 00:00:06,800 --> 00:00:08,520 S1: our phone lines are not open. 3 00:00:08,640 --> 00:00:11,319 S2: It's one thing to thank God before a meal. It's 4 00:00:11,320 --> 00:00:14,280 S2: another thing entirely to thank him before sending off a 5 00:00:14,280 --> 00:00:18,360 S2: tax payment. Hi, I'm Rob West, but for Christians, gratitude 6 00:00:18,360 --> 00:00:22,080 S2: doesn't end where the deductions begin. Today, we're taking a 7 00:00:22,079 --> 00:00:26,600 S2: surprising look at taxes not as an interruption to our finances, 8 00:00:26,600 --> 00:00:29,639 S2: but as evidence of God's provision. Then we have some 9 00:00:29,640 --> 00:00:32,120 S2: great calls lined up. But please don't call in today 10 00:00:32,120 --> 00:00:36,400 S2: because we're prerecorded. This is faith and finance. Live. Biblical 11 00:00:36,400 --> 00:00:44,120 S2: wisdom for your financial decisions. For Christians, few topics unite 12 00:00:44,159 --> 00:00:47,680 S2: us quite like our dislike of paying taxes. We may 13 00:00:47,680 --> 00:00:50,440 S2: think if I could just keep that money, I could 14 00:00:50,440 --> 00:00:53,960 S2: do something far better with it. And when government policies 15 00:00:53,960 --> 00:00:57,760 S2: clash with our convictions, or when waste and corruption makes 16 00:00:57,760 --> 00:01:01,790 S2: the headlines, the resentment can rise even further. But Scripture 17 00:01:01,830 --> 00:01:05,310 S2: gives us a different lens, one that shifts the conversation 18 00:01:05,310 --> 00:01:10,350 S2: toward gratitude, humility, and trust in God's sovereignty. In Matthew 22, 19 00:01:10,390 --> 00:01:14,509 S2: the Pharisees tried trapping Jesus with a political question is 20 00:01:14,510 --> 00:01:17,670 S2: it lawful to pay taxes to Caesar or not? We 21 00:01:17,709 --> 00:01:22,070 S2: find that in Matthew 2217, Jesus asked for a coin, 22 00:01:22,110 --> 00:01:25,550 S2: pointed to Caesar's image and replied, Render to Caesar the 23 00:01:25,550 --> 00:01:28,310 S2: things that are Caesar's, and to God the things that 24 00:01:28,310 --> 00:01:33,670 S2: are God's. This was remarkable for several reasons. First, taxation 25 00:01:33,670 --> 00:01:37,709 S2: in Jesus day was deeply unpopular. Rome was an occupying 26 00:01:37,750 --> 00:01:41,709 S2: force using tax revenue to support a system that oppressed 27 00:01:41,750 --> 00:01:45,830 S2: God's people. Yet Jesus didn't call for revolt or avoidance. 28 00:01:45,910 --> 00:01:49,750 S2: He affirmed that paying taxes fits within God's ordering of 29 00:01:49,750 --> 00:01:53,830 S2: the world, while also clarifying that our ultimate allegiance is 30 00:01:53,830 --> 00:01:58,260 S2: to God. We may hand over coins stamped with Caesar's image, 31 00:01:58,260 --> 00:02:02,100 S2: but our lives stamped with God's image are his. The 32 00:02:02,100 --> 00:02:05,900 S2: apostle Paul echoed this during Nero's reign, hardly a golden 33 00:02:05,900 --> 00:02:09,700 S2: age for righteous government. He wrote for. Because of this 34 00:02:09,740 --> 00:02:12,940 S2: you also pay taxes, pay to all what is owed 35 00:02:12,940 --> 00:02:16,580 S2: to them, taxes to whom taxes are owed, honor to 36 00:02:16,620 --> 00:02:20,420 S2: whom honor is owed. That's in Romans 13 six and seven. 37 00:02:20,620 --> 00:02:25,100 S2: Neither Jesus nor Paul grounded this in governmental perfection, but 38 00:02:25,100 --> 00:02:29,220 S2: in God's sovereignty. When we pay taxes, we're not expressing 39 00:02:29,220 --> 00:02:32,180 S2: confidence in a human system, but in a God who 40 00:02:32,180 --> 00:02:36,460 S2: rules over every nation. This means paying taxes isn't just 41 00:02:36,460 --> 00:02:40,579 S2: about compliance. It's about a recognition that God has established 42 00:02:40,580 --> 00:02:44,660 S2: governing authorities, and honoring them is one way we honor him. 43 00:02:44,940 --> 00:02:49,540 S2: But there's another layer, one that believers often overlook. Taxes 44 00:02:49,540 --> 00:02:54,700 S2: assume something profoundly theological. Before you pay a dime in taxes, 45 00:02:54,740 --> 00:02:58,580 S2: God has already provided One of my mentors, Ron Blue, 46 00:02:58,580 --> 00:03:03,260 S2: says this every year around tax time. Taxes represent God's provision. 47 00:03:03,260 --> 00:03:07,980 S2: If God wasn't providing income, you wouldn't be paying taxes. Therefore, 48 00:03:07,980 --> 00:03:10,940 S2: you should plan wisely for taxes. But you should pay 49 00:03:10,940 --> 00:03:15,059 S2: your taxes with gratitude as a reminder of God's provision. 50 00:03:15,100 --> 00:03:17,860 S2: Think about that for a moment. You don't pay taxes 51 00:03:17,860 --> 00:03:22,300 S2: without an income. Taxes are in their own uncomfortable way, 52 00:03:22,620 --> 00:03:26,580 S2: evidence that God has provided. They indicate that work was available, 53 00:03:26,580 --> 00:03:30,179 S2: income was gained, needs were met, and that God supplied 54 00:03:30,180 --> 00:03:35,540 S2: daily bread. Christians rooted in gratitude see provision before they 55 00:03:35,580 --> 00:03:38,700 S2: see loss. We don't merely ask, how much am I paying? 56 00:03:38,700 --> 00:03:43,100 S2: But what does this reveal about God's faithfulness? Gratitude always 57 00:03:43,100 --> 00:03:46,940 S2: lifts our eyes from what's taken toward what's given. And 58 00:03:46,940 --> 00:03:51,860 S2: gratitude is deeply subversive in a culture discipled toward discontentment. 59 00:03:51,940 --> 00:03:55,220 S2: That doesn't mean governments always get it right, far from it. 60 00:03:55,290 --> 00:03:58,170 S2: But it means that our posture as believers isn't one 61 00:03:58,170 --> 00:04:01,570 S2: of avoidance. It's one of integrity in a world full 62 00:04:01,570 --> 00:04:05,970 S2: of loopholes and justifications. Your honesty reveals your desire to 63 00:04:06,010 --> 00:04:11,010 S2: follow Jesus. Finally, paying taxes can become a spiritual discipline. 64 00:04:11,050 --> 00:04:13,930 S2: Every time you pay taxes, let it be a reminder 65 00:04:13,930 --> 00:04:17,490 S2: to pray. Ask God to guide leaders with wisdom, justice, 66 00:04:17,490 --> 00:04:20,850 S2: and humility. You may vote against them or even campaign 67 00:04:20,850 --> 00:04:24,930 S2: against them. You may even grieve their decisions. But remember, 68 00:04:25,170 --> 00:04:28,090 S2: they are people made in God's image who desperately need 69 00:04:28,089 --> 00:04:32,690 S2: his help. Taxes, therefore become a prompt not to complain, 70 00:04:32,690 --> 00:04:35,409 S2: but to pray. So how do we put all this 71 00:04:35,410 --> 00:04:39,050 S2: together in a world eager to grumble? Remember the owner. 72 00:04:39,089 --> 00:04:42,010 S2: God owns it all, including the income from which taxes 73 00:04:42,050 --> 00:04:46,450 S2: are taken. Recognize the provider. Taxes reveal God has provided 74 00:04:46,450 --> 00:04:50,450 S2: enough for you to render something back. Respond with integrity, 75 00:04:50,650 --> 00:04:55,720 S2: honesty and hidden places. Forms Christ like character and visible ones. 76 00:04:55,720 --> 00:05:00,520 S2: Reframe with gratitude. Thank God for provision rather than resent 77 00:05:00,520 --> 00:05:04,359 S2: what is owed and respond with prayer. Use tax season 78 00:05:04,360 --> 00:05:08,800 S2: as a moment to pray for leaders, systems, and justice. 79 00:05:09,160 --> 00:05:11,080 S2: By the way, if you want to explore this kind 80 00:05:11,080 --> 00:05:14,520 S2: of stewardship more deeply, this comes from my new 21 81 00:05:14,520 --> 00:05:17,960 S2: day devotional, Our Ultimate Treasure. You can find it at 82 00:05:17,960 --> 00:05:23,159 S2: Faith Viktorwrites.com. Back with your questions after this. Stick around. 83 00:05:35,640 --> 00:05:37,920 S2: I'm so glad you're joining us today on Faith and 84 00:05:37,920 --> 00:05:42,120 S2: Finance Live. Just a quick reminder, we're away from the studio. 85 00:05:42,160 --> 00:05:45,080 S2: Let me also remind you that the advice I give 86 00:05:45,080 --> 00:05:49,480 S2: on this broadcast is not intended to be a specific recommendation. 87 00:05:49,480 --> 00:05:53,750 S2: These are general principles and guidelines, but always seek professional 88 00:05:53,750 --> 00:05:57,750 S2: financial advice that is appropriate for your situation before we 89 00:05:57,790 --> 00:05:59,909 S2: head to the phones. What a great opportunity for me 90 00:05:59,910 --> 00:06:02,710 S2: to remind you to check out the Faith V website 91 00:06:02,710 --> 00:06:06,190 S2: at faith fi.com. You can find great resources. You can 92 00:06:06,190 --> 00:06:09,230 S2: check out and download the Faith fi app. You can 93 00:06:09,230 --> 00:06:12,110 S2: also jump into our faith fi community. That's where you 94 00:06:12,110 --> 00:06:15,750 S2: can ask questions, get answers, perhaps help somebody else on 95 00:06:15,790 --> 00:06:18,910 S2: their financial journey as well. It's all there when you 96 00:06:18,950 --> 00:06:22,350 S2: create a free account at faith fi.com. Now let's head 97 00:06:22,350 --> 00:06:24,950 S2: to the phone calls we have lined up. Let's go 98 00:06:24,950 --> 00:06:26,750 S2: to Georgia Allen. Go ahead. 99 00:06:27,550 --> 00:06:31,070 S3: Um, I'm planning to pay off one of my wife 100 00:06:31,070 --> 00:06:33,470 S3: and I are planning to pay off one of my 101 00:06:33,470 --> 00:06:37,910 S3: son's school loans. We've paying off the one with the 102 00:06:37,910 --> 00:06:42,670 S3: highest interest rate. And, uh, the purpose of the call 103 00:06:42,710 --> 00:06:50,550 S3: is two questions. One is my son's married and the 104 00:06:50,550 --> 00:06:55,150 S3: the loan is going to be around $20,000. When is 105 00:06:55,150 --> 00:07:00,430 S3: it going to be a tax event for my son? 106 00:07:00,950 --> 00:07:05,150 S3: And the second question is, would it be better to 107 00:07:05,190 --> 00:07:11,350 S3: give directly to the loan? Uh, federal loan or give 108 00:07:11,350 --> 00:07:12,910 S3: it give the money to him? 109 00:07:13,230 --> 00:07:17,430 S2: Yeah. Uh. Good news. Uh, you can help your son, 110 00:07:17,430 --> 00:07:21,150 S2: and it's fairly simple to do. And your marital status, actually, 111 00:07:21,150 --> 00:07:24,390 S2: from a tax perspective, gives you more flexibility. Here's how 112 00:07:24,390 --> 00:07:27,470 S2: the gift rules work. You can give up to the 113 00:07:27,510 --> 00:07:32,390 S2: annual gift tax exclusion, which this year, 2026, happens to 114 00:07:32,390 --> 00:07:38,950 S2: be $19,000 to any individual each year without triggering any 115 00:07:38,990 --> 00:07:41,670 S2: kind of gift tax or even paperwork if there's no 116 00:07:41,670 --> 00:07:46,390 S2: tax due. Uh, and that amount is per giver per recipient. 117 00:07:46,550 --> 00:07:50,740 S2: So because your son is married, you can give him 19,000. 118 00:07:50,780 --> 00:07:52,780 S2: And you could turn around and do the same to 119 00:07:52,820 --> 00:07:57,420 S2: his spouse. Um, those are two separate recipients. If it's 120 00:07:57,420 --> 00:08:00,300 S2: you and your wife that's giving the gift. You could 121 00:08:00,300 --> 00:08:04,180 S2: each give up to 19,000 to your son. So a 122 00:08:04,180 --> 00:08:07,820 S2: total of 38,000 between the two of you. And again, 123 00:08:07,860 --> 00:08:11,180 S2: that would not be taxable to your son. It would 124 00:08:11,180 --> 00:08:14,500 S2: not be taxable to anybody. And you don't even have 125 00:08:14,500 --> 00:08:17,540 S2: to let the IRS know about it because it's under 126 00:08:17,900 --> 00:08:22,740 S2: the annual gift exclusion for gift tax of 19,000. 127 00:08:23,500 --> 00:08:27,860 S3: Okay. And, uh, the second part was if we paid 128 00:08:27,860 --> 00:08:34,820 S3: the bill directly to the federal loan. The ones who 129 00:08:34,820 --> 00:08:39,819 S3: handle it, uh, would does that show up if we 130 00:08:39,820 --> 00:08:43,260 S3: pay the 20,000 directly there? If I just do that 131 00:08:43,260 --> 00:08:46,580 S3: with one check, or should we do it separately as 132 00:08:46,620 --> 00:08:48,730 S3: one from my wife and one from for me. 133 00:08:49,170 --> 00:08:52,290 S2: Yeah. No, you would be fine there because you have 134 00:08:52,330 --> 00:08:55,130 S2: up to that amount for each of you. And so 135 00:08:55,650 --> 00:08:58,250 S2: you would be able to justify that document it before 136 00:08:58,250 --> 00:09:00,330 S2: the IRS if it were ever questioned. And it won't 137 00:09:00,330 --> 00:09:04,449 S2: be in terms of where that payment goes. Is it 138 00:09:04,450 --> 00:09:07,329 S2: your son's name on it? Only that that loan. 139 00:09:08,610 --> 00:09:09,250 S3: Yes. 140 00:09:09,970 --> 00:09:12,530 S2: Okay. Yeah. So, I mean, it would be for all 141 00:09:12,530 --> 00:09:16,010 S2: intents and purposes, that's a gift anyway. Um, so it 142 00:09:16,010 --> 00:09:17,969 S2: really doesn't matter whether you give it to him or 143 00:09:18,010 --> 00:09:20,450 S2: pay it directly. In either case, the IRS would view 144 00:09:20,450 --> 00:09:24,170 S2: that as a gift. But because you're under that 38,000 145 00:09:24,210 --> 00:09:26,210 S2: that you and your wife can give to any one 146 00:09:26,210 --> 00:09:29,570 S2: individual without letting the IRS know, then you're in good shape. 147 00:09:29,610 --> 00:09:32,929 S2: Keep in mind, even if you went over the 19,000 148 00:09:32,970 --> 00:09:37,130 S2: each to any one recipient, um, you can go all 149 00:09:37,130 --> 00:09:40,370 S2: the way up to $13 million. Uh, and you wouldn't 150 00:09:40,370 --> 00:09:43,650 S2: have any gift tax. You have a lifetime exclusion of, 151 00:09:43,690 --> 00:09:46,689 S2: of more than 13 million based on the current law. 152 00:09:46,960 --> 00:09:50,120 S2: It's just that when you go above 19,000, you know, 153 00:09:50,160 --> 00:09:53,559 S2: per giver. Then you have to let the IRS know 154 00:09:53,559 --> 00:09:57,080 S2: you did it on IRS form 709 so they can 155 00:09:57,080 --> 00:10:02,400 S2: start to put it against your lifetime exclusion. But even then, again, 156 00:10:02,400 --> 00:10:05,400 S2: until you give away $13 million, you're not going to 157 00:10:05,440 --> 00:10:09,439 S2: exhaust that. And that's why most people never owe gift tax. 158 00:10:10,440 --> 00:10:14,959 S3: Okay, great. I appreciate your help. And I like listening 159 00:10:15,000 --> 00:10:15,800 S3: to your show. 160 00:10:16,000 --> 00:10:18,760 S2: Well, great. I appreciate you listening. And if, uh, if 161 00:10:18,800 --> 00:10:20,960 S2: we could help in any way in the future, don't 162 00:10:20,960 --> 00:10:23,480 S2: hesitate to reach out. Lord bless you. Uh, let's go 163 00:10:23,480 --> 00:10:25,520 S2: to Louisiana. Hi, Johnny. How can I help? 164 00:10:25,920 --> 00:10:28,200 S4: Hey. How's it going, Rob? Doing great. Um, I have 165 00:10:28,200 --> 00:10:31,160 S4: a question. I have some stock, uh, money I've been 166 00:10:31,160 --> 00:10:32,839 S4: saving up for a while. It's really just planning on 167 00:10:32,840 --> 00:10:35,160 S4: using it as part of my retirement. But I lost 168 00:10:35,160 --> 00:10:38,480 S4: income a couple years ago and gotten a little financial bind, 169 00:10:38,480 --> 00:10:40,280 S4: and so I had to max out a credit card. 170 00:10:40,280 --> 00:10:43,120 S4: And so now it got sent to collections, but they're 171 00:10:43,160 --> 00:10:45,120 S4: all from out of the collection. Company has offered me 172 00:10:45,120 --> 00:10:46,830 S4: to pay it off at a lower amount if I 173 00:10:46,830 --> 00:10:49,030 S4: pay a lump sum. I'm not sure if they're willing 174 00:10:49,030 --> 00:10:50,710 S4: to do monthly payments, but I know they sent me 175 00:10:50,710 --> 00:10:53,510 S4: a letter saying if I pay a lump sum, they 176 00:10:53,510 --> 00:10:56,070 S4: would take maybe only like 75 or 80% of the 177 00:10:56,070 --> 00:10:58,510 S4: total amount. And so I was wondering what would be 178 00:10:58,510 --> 00:11:02,270 S4: a good idea to pull money out of that stock, uh, 179 00:11:02,309 --> 00:11:04,270 S4: to pay to get that credit card debt out of 180 00:11:04,270 --> 00:11:05,990 S4: the way? Or is it better just to try to 181 00:11:05,990 --> 00:11:08,469 S4: work out a monthly payment plan and just leave my 182 00:11:08,470 --> 00:11:10,870 S4: money in my stock, where it's been growing pretty good 183 00:11:10,870 --> 00:11:11,790 S4: since I bought it? 184 00:11:11,990 --> 00:11:14,910 S2: Yeah. Gotcha. Yeah. I mean, you certainly could. And I 185 00:11:14,910 --> 00:11:17,110 S2: like the idea that they're willing to, you know, give 186 00:11:17,110 --> 00:11:19,830 S2: you a lower payoff. They may end up sending you 187 00:11:19,830 --> 00:11:22,270 S2: a 1099 for the difference between what you owe and 188 00:11:22,270 --> 00:11:25,950 S2: what they would settle for, which would make that taxable. 189 00:11:26,390 --> 00:11:28,990 S2: My preference, though, would be you leave the stocks right 190 00:11:28,990 --> 00:11:31,390 S2: where they are. You said they've been doing well. And 191 00:11:31,390 --> 00:11:33,310 S2: let's see if we can get this into a credit 192 00:11:33,309 --> 00:11:37,390 S2: counseling program. What we would hope is that it hasn't 193 00:11:37,390 --> 00:11:41,190 S2: been purchased by the collection agency. They're just acting on 194 00:11:41,190 --> 00:11:44,550 S2: behalf of the original creditor. And you could still work 195 00:11:44,550 --> 00:11:47,430 S2: with the original creditor. Because if that's the case, through 196 00:11:47,429 --> 00:11:51,429 S2: credit counseling, they would call what's called reage the account. 197 00:11:51,550 --> 00:11:54,550 S2: So essentially the account would be brought current, and then 198 00:11:54,550 --> 00:11:57,350 S2: you would slide into a debt management program, which leaves 199 00:11:57,350 --> 00:12:00,030 S2: the debt right where it is. The account is either 200 00:12:00,030 --> 00:12:04,150 S2: closed or at least suspended, but the interest rate is dropped. 201 00:12:04,309 --> 00:12:07,110 S2: And that way you could get back current but with 202 00:12:07,110 --> 00:12:09,190 S2: a lower interest rate, which means a lot more of 203 00:12:09,190 --> 00:12:12,309 S2: your monthly payment is now going to principal reduction. And 204 00:12:12,309 --> 00:12:15,270 S2: you don't have to pull the money out of the stocks. 205 00:12:15,390 --> 00:12:17,910 S2: So I would probably start with that approach just to 206 00:12:17,950 --> 00:12:21,390 S2: see if our friends at Christian credit Counselors could work 207 00:12:21,630 --> 00:12:25,230 S2: with the original creditor and get that reagent slide you 208 00:12:25,230 --> 00:12:26,990 S2: into that program. And the way you would do that 209 00:12:26,990 --> 00:12:31,230 S2: is go to Christian credit counselors.org. And then if that 210 00:12:31,230 --> 00:12:33,070 S2: just isn't going to work out and you end up 211 00:12:33,150 --> 00:12:36,150 S2: needing to pay the lump sum, you know, that way 212 00:12:36,350 --> 00:12:38,429 S2: at that point, you could look at what assets you 213 00:12:38,429 --> 00:12:41,750 S2: have available and then potentially pulling from the stock portfolio. 214 00:12:41,750 --> 00:12:42,860 S2: Does that make sense though? 215 00:12:43,420 --> 00:12:45,660 S4: Yeah. Yeah, definitely. So I think I tried to call 216 00:12:45,660 --> 00:12:48,140 S4: my the original creditor one day to work with them. 217 00:12:48,179 --> 00:12:50,700 S4: It has been, but it was, it's been like over 218 00:12:50,700 --> 00:12:52,780 S4: a year since I made a payment. And so I 219 00:12:52,780 --> 00:12:54,140 S4: think the last time I tried to call him, she 220 00:12:54,140 --> 00:12:57,260 S4: said it was just showing the account was closed. Yeah. 221 00:12:57,300 --> 00:13:00,500 S4: And that I needed to refer to the the creditor 222 00:13:00,540 --> 00:13:02,500 S4: or the whoever. So I'm not sure if that means 223 00:13:02,500 --> 00:13:03,459 S4: they officially bought it. 224 00:13:03,460 --> 00:13:06,100 S2: Yeah, yeah, yeah. And so that may be the case 225 00:13:06,100 --> 00:13:10,140 S2: now there still may be an option, uh, with regard to, 226 00:13:10,300 --> 00:13:12,820 S2: you know, sliding it into debt management. So it'd be 227 00:13:12,820 --> 00:13:16,140 S2: worth you reaching out to the, to Christian credit counselors. 228 00:13:16,179 --> 00:13:17,340 S4: Yeah, yeah. Okay. 229 00:13:17,380 --> 00:13:21,060 S2: All right. So that on the web, Christian credit counselors.org, 230 00:13:21,100 --> 00:13:23,059 S2: let's let them take a look at it and then 231 00:13:23,100 --> 00:13:25,380 S2: see where we go from here. Thanks for your call today. 232 00:13:25,620 --> 00:13:27,179 S2: Let's go to New York, Doug. Go ahead. 233 00:13:27,900 --> 00:13:30,020 S5: It's always a pleasure. And once again, thank you for 234 00:13:30,020 --> 00:13:34,100 S5: your expertise. Uh, first is I, uh, have you ever 235 00:13:34,100 --> 00:13:36,540 S5: heard the statement sell in May and go away? 236 00:13:37,100 --> 00:13:38,060 S2: I have, yeah. 237 00:13:38,780 --> 00:13:41,970 S5: Okay. And I got, uh, rule of thumb for stocks. 238 00:13:41,970 --> 00:13:45,250 S5: They say to sell at 7% on a big downfall to, 239 00:13:45,290 --> 00:13:47,810 S5: you know, limit your losses. But I was wondering if 240 00:13:47,809 --> 00:13:49,690 S5: you had a rule of thumb when it's an ideal 241 00:13:49,730 --> 00:13:54,290 S5: time to sell your stock when comfortable gains are achieved. 242 00:13:54,290 --> 00:13:57,090 S5: And if I got time, I got one other quick question. 243 00:13:57,490 --> 00:14:00,850 S2: Okay. Yeah. So you manage all of your assets yourself, 244 00:14:00,850 --> 00:14:01,530 S2: is that right? 245 00:14:01,970 --> 00:14:02,650 S5: Correct. 246 00:14:02,650 --> 00:14:05,490 S2: Yeah, yeah. Sounds good. Yeah. Let's talk through that. I'm 247 00:14:05,490 --> 00:14:07,290 S2: up against a break here. So we'll pick this up 248 00:14:07,290 --> 00:14:10,890 S2: on the other side. But in terms of formulas, when 249 00:14:10,929 --> 00:14:15,530 S2: to sell, when to buy rules for the investing space. Yeah. 250 00:14:15,530 --> 00:14:18,370 S2: We'll talk about what those are here right around the corner. 251 00:14:18,370 --> 00:14:20,290 S2: And then we'll get to some other phone calls. Doug, 252 00:14:20,290 --> 00:14:22,170 S2: glad you're here today. And we'll pick this up in 253 00:14:22,170 --> 00:14:24,290 S2: just a moment. This is faith and finance. We'll be 254 00:14:24,290 --> 00:14:24,850 S2: right back. 255 00:14:36,450 --> 00:14:40,400 S1: You're listening to Faith and finance live. This program is prerecorded, 256 00:14:40,400 --> 00:14:43,240 S1: so we're not available to answer your calls, but you 257 00:14:43,240 --> 00:14:48,040 S1: can email us your questions at at free.com. 258 00:14:50,760 --> 00:14:53,240 S2: Before the break, we were talking to Doug. He's wondering 259 00:14:53,240 --> 00:14:56,480 S2: about kind of rules of the road on when to 260 00:14:56,520 --> 00:15:00,920 S2: buy and sell stocks. He's got an allocation to precious, 261 00:15:00,960 --> 00:15:04,280 S2: precious metals and he's wondering if it's time to sell. 262 00:15:04,320 --> 00:15:06,880 S2: And you know, as we think about this and whether 263 00:15:06,880 --> 00:15:09,640 S2: it's precious metals or anything else, I mean, we start 264 00:15:09,640 --> 00:15:12,720 S2: with God's Word and we see principles there that you'll 265 00:15:12,720 --> 00:15:16,240 S2: be familiar with. Doug. We see that God's word emphasizes 266 00:15:16,240 --> 00:15:21,480 S2: prudence in Proverbs 2712, and diversification, and Ecclesiastes 11 two, 267 00:15:21,520 --> 00:15:25,359 S2: and faithfulness with what God entrusts to us in Luke 16. 268 00:15:25,360 --> 00:15:29,400 S2: So our decision should be guided by purpose and discipline, 269 00:15:29,680 --> 00:15:32,960 S2: not fear, greed, or trying to time the market perfectly. 270 00:15:32,960 --> 00:15:35,000 S2: And I'm not saying that's what's driving yours, but I'm 271 00:15:35,000 --> 00:15:37,800 S2: just saying that's what we need to keep in mind. Um, 272 00:15:37,800 --> 00:15:43,280 S2: you know, I would also say that investors consistently underperform 273 00:15:43,280 --> 00:15:46,640 S2: the market. You know, long term studies of investor behavior 274 00:15:46,840 --> 00:15:50,360 S2: show that the average investor earns several percentage points less 275 00:15:50,360 --> 00:15:53,960 S2: per year than the market itself. And it usually comes 276 00:15:53,960 --> 00:15:57,000 S2: down to poor timing decisions. You know, buying after gains 277 00:15:57,000 --> 00:16:00,360 S2: or selling after losses. And so, you know, what we 278 00:16:00,360 --> 00:16:03,680 S2: realize is that market gains are often concentrated in a 279 00:16:03,680 --> 00:16:06,480 S2: small number of days, which is why when we're talking 280 00:16:06,480 --> 00:16:09,040 S2: about getting in or out of the market, it's best 281 00:16:09,040 --> 00:16:12,680 S2: just to stay invested because, you know, often missing just 282 00:16:12,680 --> 00:16:16,040 S2: a few of the best days can really crush your returns. 283 00:16:16,040 --> 00:16:19,720 S2: And that's often what happens as people get into emotional 284 00:16:19,720 --> 00:16:23,200 S2: selling where feel fear causes them to sell low. You know, 285 00:16:23,240 --> 00:16:25,480 S2: greed causes them to hold on too long, those kinds 286 00:16:25,480 --> 00:16:28,920 S2: of things. Um, I would also say that in terms of, 287 00:16:29,080 --> 00:16:33,160 S2: you know, you looking at your portfolio, it's not a 288 00:16:33,160 --> 00:16:37,710 S2: bad idea to trim the winners, especially when a stock 289 00:16:37,710 --> 00:16:40,870 S2: or an allocation. In this case, if we're talking about 290 00:16:40,870 --> 00:16:44,190 S2: precious metals, it becomes too large of a part of 291 00:16:44,190 --> 00:16:48,430 S2: your portfolio. So essentially what you're doing is rebalancing to 292 00:16:48,470 --> 00:16:54,150 S2: reduce risk without trying to predict the market movements. Because, 293 00:16:54,390 --> 00:16:56,030 S2: you know, you and I have no idea where the 294 00:16:56,030 --> 00:16:58,510 S2: spot price of gold is going a day, a week, 295 00:16:58,550 --> 00:17:01,590 S2: a month, a year from now. But we do need 296 00:17:01,590 --> 00:17:04,470 S2: to have a rules based approach that says, okay, if 297 00:17:04,470 --> 00:17:09,310 S2: our target allocation for you for precious metals is 10% 298 00:17:09,310 --> 00:17:11,790 S2: based on your age and risk tolerance, and all of 299 00:17:11,790 --> 00:17:13,990 S2: a sudden it runs like we've seen over the last 300 00:17:13,990 --> 00:17:17,669 S2: couple of years, and now it's 15 or 18%. Well, 301 00:17:17,670 --> 00:17:20,950 S2: you're not trying to time it. You're just reducing risk 302 00:17:21,150 --> 00:17:24,590 S2: by dialing back your percentage to your intended allocation. And 303 00:17:24,590 --> 00:17:27,430 S2: that's a good thing. So those are just some some 304 00:17:27,430 --> 00:17:30,550 S2: general thoughts. But give me any follow up questions you have. 305 00:17:31,190 --> 00:17:34,909 S5: Yes. Thank you so much. A follow up question is 306 00:17:34,910 --> 00:17:38,820 S5: on the precious metals. Would you still recommend buying them 307 00:17:38,820 --> 00:17:42,540 S5: at this time at these high rates to to increase 308 00:17:42,540 --> 00:17:44,780 S5: your 5 to 10% of one's portfolio? 309 00:17:45,100 --> 00:17:47,980 S2: Yeah. Yeah. It's a good question. And, you know, I 310 00:17:47,980 --> 00:17:51,460 S2: think they, they play a role. Um, you know, not 311 00:17:51,460 --> 00:17:55,300 S2: as a primary growth investment, but as a diversifier. Um, 312 00:17:55,300 --> 00:17:57,660 S2: you know, they don't produce income. You know, their long 313 00:17:57,700 --> 00:18:02,020 S2: term returns tend to trail stocks and, you know, they 314 00:18:02,020 --> 00:18:05,340 S2: do well when inflation fears rise. The Federal Reserve is 315 00:18:05,340 --> 00:18:07,340 S2: going to be working hard to get that down, especially 316 00:18:07,340 --> 00:18:09,500 S2: under this new chairman. I think that will be coming 317 00:18:09,500 --> 00:18:13,300 S2: in very soon. Um you know when trust in currencies weaken, 318 00:18:13,300 --> 00:18:16,740 S2: which we've got plenty of that going on geopolitical issues. So, 319 00:18:17,060 --> 00:18:20,180 S2: you know, I think, um, after a strong run like 320 00:18:20,180 --> 00:18:25,300 S2: we're in now, expectations matter. It's already had big gains. Um, 321 00:18:25,460 --> 00:18:27,899 S2: you know, could it pull back? Sure. And we saw 322 00:18:27,900 --> 00:18:30,780 S2: it do that in a hurry. But you know, if 323 00:18:30,820 --> 00:18:33,540 S2: you're trying to get to a target allocation, I think 324 00:18:33,540 --> 00:18:36,129 S2: just given what we've seen over the last year, I'd 325 00:18:36,130 --> 00:18:40,290 S2: probably do it a little slower than I would, you know, 326 00:18:40,330 --> 00:18:42,970 S2: if we were just seeing a normal, uh, you know, 327 00:18:43,010 --> 00:18:46,490 S2: trend in stock in and gold, which we're not right now. 328 00:18:46,490 --> 00:18:48,810 S2: So I'd probably say maybe you take a little bit 329 00:18:48,810 --> 00:18:53,170 S2: longer to get up to that target allocation, uh, than 330 00:18:53,170 --> 00:18:55,370 S2: you would, you know, if we were in a normal 331 00:18:55,369 --> 00:18:57,170 S2: market for gold, if that makes sense. 332 00:18:58,010 --> 00:19:01,530 S5: Oh, wonderful. Yes, it makes a lot of sense. Okay. 333 00:19:01,570 --> 00:19:03,410 S5: Answer my questions. Thank you so much. 334 00:19:03,490 --> 00:19:05,929 S2: Absolutely. Doug, thanks for your call today. We appreciate you. 335 00:19:06,050 --> 00:19:08,609 S2: Let's go to Maryland. And I think Marshall wants to 336 00:19:08,609 --> 00:19:10,129 S2: talk about gold as well. Go ahead. 337 00:19:10,609 --> 00:19:13,770 S6: Hey, Rob. Thanks for taking my call. I. A while ago, 338 00:19:13,770 --> 00:19:17,290 S6: I heard you guys talking about, um, ETF for gold. 339 00:19:17,290 --> 00:19:18,970 S6: What is that ETF? 340 00:19:19,770 --> 00:19:23,970 S2: Yeah. Exchange traded fund is basically just a way to 341 00:19:24,369 --> 00:19:29,530 S2: invest in a basket of stocks. However different from a 342 00:19:29,530 --> 00:19:33,570 S2: mutual fund which is also a basket of investments of 343 00:19:33,570 --> 00:19:38,850 S2: holdings and could be stocks, which you buy based on 344 00:19:38,850 --> 00:19:41,649 S2: what's called the net asset value. So the total of 345 00:19:41,650 --> 00:19:44,810 S2: all the investments divided by the number of outstanding shares, 346 00:19:44,810 --> 00:19:47,450 S2: you get the the net asset value at the end 347 00:19:47,450 --> 00:19:50,730 S2: of each day. So you know, you can only buy 348 00:19:50,730 --> 00:19:52,729 S2: it based on the nav. At the end of the 349 00:19:52,730 --> 00:19:57,290 S2: day with an ETF, it trades like a stock. So 350 00:19:57,330 --> 00:20:00,530 S2: you know you can buy it based on every tick. 351 00:20:00,690 --> 00:20:04,770 S2: But again it's it's the same basket of holdings. But 352 00:20:04,810 --> 00:20:06,530 S2: you know the way you trade it is a little 353 00:20:06,530 --> 00:20:11,889 S2: bit different. And then secondly, often the expenses embedded in them, 354 00:20:11,890 --> 00:20:15,490 S2: not always, but often they are lower than mutual funds, 355 00:20:15,490 --> 00:20:19,890 S2: which is why there's been so much appeal to these because, 356 00:20:19,930 --> 00:20:22,050 S2: you know, you can trade it during the day, you 357 00:20:22,050 --> 00:20:27,530 S2: can own hundreds or thousands of investments. Um, and there's 358 00:20:27,530 --> 00:20:30,850 S2: a lot more liquidity and transparency. And if, if it's 359 00:20:30,850 --> 00:20:33,160 S2: a little cheaper, you know, you can see why people 360 00:20:33,160 --> 00:20:34,240 S2: are pretty interested. 361 00:20:34,680 --> 00:20:38,520 S6: Is there anything you would recommend any? I don't I 362 00:20:38,560 --> 00:20:40,200 S6: don't have a lot of knowledge about it. That's why 363 00:20:40,200 --> 00:20:43,520 S6: I was calling you. If there's any particular one you recommend. 364 00:20:43,760 --> 00:20:48,280 S2: There, you know, I don't give specific stock or investment recommendations, 365 00:20:48,480 --> 00:20:49,960 S2: so I wouldn't be able to do that. But I 366 00:20:49,960 --> 00:20:52,160 S2: could point you to a couple of places. One would 367 00:20:52,160 --> 00:20:55,000 S2: be if you're kind of a do it yourselfer, um, 368 00:20:55,240 --> 00:20:57,560 S2: which is, is not a bad thing. Uh, our friends 369 00:20:57,560 --> 00:21:01,520 S2: at sound mind investing.org would be a great resource that's 370 00:21:01,520 --> 00:21:06,080 S2: sound mind investing. And, uh, the sound mind investing newsletter, 371 00:21:06,080 --> 00:21:09,879 S2: which comes out in print form, but also electronically would 372 00:21:09,880 --> 00:21:14,440 S2: give you specific mutual fund and ETF recommendations to build 373 00:21:14,440 --> 00:21:18,280 S2: a portfolio based on your age and, and risk tolerance. 374 00:21:18,400 --> 00:21:22,520 S2: A lot of our listeners use SMI to manage their portfolios, 375 00:21:22,720 --> 00:21:24,880 S2: and they update that every month. And you can make 376 00:21:24,880 --> 00:21:28,240 S2: changes as you see fit. Um, the other approach would 377 00:21:28,240 --> 00:21:31,630 S2: be to delegate that responsibility to an advisor. And if 378 00:21:31,630 --> 00:21:34,350 S2: you're interested in doing that, I'd recommend you connect with 379 00:21:34,350 --> 00:21:37,190 S2: a certified Kingdom advisor there in Maryland and, you know, 380 00:21:37,230 --> 00:21:39,670 S2: meet with, uh, 2 or 3, find the one that's 381 00:21:39,670 --> 00:21:41,909 S2: the best fit. And at that point you'd be turning 382 00:21:41,910 --> 00:21:45,590 S2: over management to an advisor. Um, you know, if you're 383 00:21:45,590 --> 00:21:49,390 S2: comfortable with that and you could go to find a com, 384 00:21:49,390 --> 00:21:51,869 S2: so I think either of those could be a great option. 385 00:21:51,869 --> 00:21:53,750 S2: Just depends on whether you want to do it yourself 386 00:21:53,910 --> 00:21:57,149 S2: or delegate to a professional. Marshall, thanks for your call. 387 00:21:57,150 --> 00:21:57,990 S2: We'll be right back. 388 00:22:08,590 --> 00:22:11,830 S1: This is Faith and finance live with Rob West. Hey, 389 00:22:11,830 --> 00:22:14,710 S1: if you hear a phone number mentioned today, please ignore 390 00:22:14,750 --> 00:22:18,150 S1: that number and don't call us because today's broadcast was 391 00:22:18,150 --> 00:22:21,830 S1: previously recorded. But we think the upcoming information will help 392 00:22:21,830 --> 00:22:24,070 S1: you and make you a wise steward of what God 393 00:22:24,070 --> 00:22:26,710 S1: has given you. So please stay tuned. 394 00:22:27,990 --> 00:22:31,780 S2: Marshall asked a great question what is an ETF? And 395 00:22:31,820 --> 00:22:33,940 S2: as I was sharing with him, essentially it's a low 396 00:22:33,940 --> 00:22:38,420 S2: cost basket of investments that trades like a stock. So 397 00:22:38,420 --> 00:22:41,300 S2: it moves with every tick of the market and gives 398 00:22:41,300 --> 00:22:45,179 S2: you instant diversification. As I also mentioned, one of the 399 00:22:45,180 --> 00:22:50,340 S2: features is the low cost. Usually they're cheaper than mutual funds. 400 00:22:50,540 --> 00:22:54,820 S2: But another feature is there's various types of exchange traded funds. 401 00:22:54,859 --> 00:22:57,940 S2: I mean, we talked about one of them, which was 402 00:22:57,940 --> 00:23:03,940 S2: an actively managed faith based investing exchange traded fund from 403 00:23:03,980 --> 00:23:07,340 S2: our friends at Timothy Plan with Brian Mummert. Just earlier 404 00:23:07,340 --> 00:23:09,859 S2: in the broadcast. And that would be a great example of, 405 00:23:10,100 --> 00:23:13,660 S2: you know, Timothy planned for a long time. All they 406 00:23:13,660 --> 00:23:15,860 S2: had was mutual funds, which are great. They still offer 407 00:23:15,859 --> 00:23:19,460 S2: them today. But now Timothy plan has exchange traded funds 408 00:23:19,500 --> 00:23:22,740 S2: a little less expensive, a little easier to get into. Again, 409 00:23:22,740 --> 00:23:25,260 S2: you can buy and sell them, you know, in any 410 00:23:25,260 --> 00:23:28,489 S2: account of Fidelity or Schwab account, and it's just a 411 00:23:28,490 --> 00:23:31,930 S2: great way to either add a position to your portfolio 412 00:23:31,930 --> 00:23:34,649 S2: or to have a core holding in your portfolio. So 413 00:23:34,650 --> 00:23:37,689 S2: that would be one example of an ETF. Another example, 414 00:23:37,690 --> 00:23:41,250 S2: which is really where we know ETFs from in the 415 00:23:41,250 --> 00:23:46,129 S2: early days, which is market index ETFs. So for instance, 416 00:23:46,130 --> 00:23:50,530 S2: like a, a total US stock market ETF would capture 417 00:23:50,770 --> 00:23:54,090 S2: the moves of the the broad market, but you could 418 00:23:54,130 --> 00:23:57,210 S2: buy $100 worth of that ETF. So it tracks a 419 00:23:57,210 --> 00:24:00,810 S2: particular index like the S&P 500 or the the Dow 420 00:24:00,850 --> 00:24:04,850 S2: 30 or the Nasdaq 100, something like that. Another would 421 00:24:04,850 --> 00:24:08,530 S2: be a precious metals ETF like a gold ETF. Now 422 00:24:08,570 --> 00:24:11,050 S2: these are interesting. And they have these for all kinds 423 00:24:11,050 --> 00:24:15,369 S2: of of metals and commodities. But essentially a gold ETF 424 00:24:15,410 --> 00:24:18,290 S2: like GLD, it would be the most well known. It's 425 00:24:18,290 --> 00:24:21,970 S2: the largest. They actually have real gold in a vault 426 00:24:21,970 --> 00:24:25,650 S2: behind this ETF. But it allows you to take a 427 00:24:25,770 --> 00:24:31,530 S2: position in gold and follow the. The. Move the price 428 00:24:31,530 --> 00:24:33,649 S2: of gold as it moves up and down the spot 429 00:24:33,650 --> 00:24:36,930 S2: price without ever taking possession of the gold. Which is 430 00:24:36,930 --> 00:24:39,130 S2: really helpful because now all of a sudden you make 431 00:24:39,170 --> 00:24:42,810 S2: one trade, you've got an allocation of gold. And no 432 00:24:42,810 --> 00:24:46,690 S2: matter where the spot price of gold goes, your gold 433 00:24:46,690 --> 00:24:49,810 S2: ETF is going to track in lockstep with it. Well, 434 00:24:49,810 --> 00:24:52,250 S2: what's the benefit? Well, it was really simple. You didn't 435 00:24:52,250 --> 00:24:54,810 S2: buy it. Pay a dealer markup. You don't have to 436 00:24:54,850 --> 00:24:57,010 S2: put it in a safe or a safe deposit box 437 00:24:57,010 --> 00:24:59,609 S2: or anything like that, because you're not taking possession of it. 438 00:24:59,650 --> 00:25:03,690 S2: You literally are getting an allocation of gold in your portfolio, 439 00:25:03,690 --> 00:25:06,210 S2: but you're never going to touch the physical gold. And 440 00:25:06,210 --> 00:25:08,929 S2: if you want to, you know, wind down that position 441 00:25:08,930 --> 00:25:12,730 S2: or decrease it with a simple trade, it's gone. And 442 00:25:12,730 --> 00:25:15,050 S2: it just makes it so, you know, effective. Now, a 443 00:25:15,050 --> 00:25:17,210 S2: lot of people and I like this, you know, want 444 00:25:17,210 --> 00:25:19,730 S2: to take possession of the metal. And I would say, 445 00:25:19,850 --> 00:25:22,409 S2: you know, for your first 5%, you probably want to 446 00:25:22,410 --> 00:25:25,560 S2: make that your forever allocation. And maybe you do actually 447 00:25:25,560 --> 00:25:28,520 S2: get the physical gold and you you do. Secure it 448 00:25:28,520 --> 00:25:30,440 S2: and you pass it down and you plan to never 449 00:25:30,440 --> 00:25:32,320 S2: sell it. But if you want to go up above 450 00:25:32,320 --> 00:25:36,639 S2: the 5% to maybe 10% because it fits your risk 451 00:25:36,640 --> 00:25:39,880 S2: tolerance and goals and objectives, that's where an ETF, an 452 00:25:39,880 --> 00:25:42,840 S2: exchange traded fund can be really helpful. So you can 453 00:25:42,840 --> 00:25:48,199 S2: understand why these are just becoming a really effective and, 454 00:25:48,480 --> 00:25:51,920 S2: you know, dominant player in the market for many investors 455 00:25:51,920 --> 00:25:54,719 S2: and advisors. So hopefully that helps add a little more 456 00:25:54,720 --> 00:25:58,200 S2: color commentary to exchange traded funds. All right, let's head 457 00:25:58,200 --> 00:25:59,560 S2: back to the phones. By the way, if you've got 458 00:25:59,560 --> 00:26:02,200 S2: a question, we've got room for you. Any financial topic 459 00:26:02,200 --> 00:26:07,679 S2: today 800 525 7000. Call right now. Let's go to Oklahoma. Hi, Linda. 460 00:26:07,680 --> 00:26:08,240 S2: Go ahead. 461 00:26:09,119 --> 00:26:15,160 S7: Yes. Um, my question is about h a and it 462 00:26:15,160 --> 00:26:22,639 S7: is for health reasons to pay off your medical bills. Yes. 463 00:26:22,640 --> 00:26:27,550 S7: And my husband's employer had changed banks with the HSA, 464 00:26:28,230 --> 00:26:32,230 S7: and it was supposed to have ended the prior card 465 00:26:32,470 --> 00:26:35,510 S7: the end of December and rolled over into the new 466 00:26:35,510 --> 00:26:39,430 S7: 1st January first. Right. But we found out that that 467 00:26:39,430 --> 00:26:42,270 S7: wasn't the case. And we keep calling and they keep 468 00:26:42,310 --> 00:26:46,310 S7: telling us three more weeks, three more weeks and all 469 00:26:46,310 --> 00:26:49,630 S7: that's in that. The account that we have now is 470 00:26:49,630 --> 00:26:55,470 S7: just what we've put in since January 1st. But we 471 00:26:55,510 --> 00:26:59,270 S7: don't know what to do about it. And they keep 472 00:26:59,270 --> 00:27:02,389 S7: up with this three weeks. They sent a woman yesterday 473 00:27:02,790 --> 00:27:07,030 S7: and she said, well, they had um, the bank had 474 00:27:07,030 --> 00:27:09,750 S7: invested the money and so it put a big hurt 475 00:27:09,750 --> 00:27:13,470 S7: on that prior bank and she said, it'll be three 476 00:27:13,510 --> 00:27:16,950 S7: more weeks. So we don't know what to do. And 477 00:27:16,950 --> 00:27:20,950 S7: I was going to pay off my hospital bill, but 478 00:27:20,950 --> 00:27:24,060 S7: the money's not there. And I've waited all this time. 479 00:27:24,619 --> 00:27:28,540 S7: So now they want to charge me more. So I 480 00:27:28,540 --> 00:27:30,340 S7: didn't know what to do about it. 481 00:27:30,619 --> 00:27:33,220 S2: Yeah, well, I hate to hear this, and I know 482 00:27:33,220 --> 00:27:36,860 S2: this is really challenging. Um, you know, when this happens 483 00:27:36,859 --> 00:27:40,860 S2: and it does happen often where, uh, an HSA custodian 484 00:27:40,859 --> 00:27:45,700 S2: is changed from one custodian to another. Um, you, you 485 00:27:45,740 --> 00:27:48,820 S2: do have these situations. Normally they happen on a pretty 486 00:27:48,859 --> 00:27:53,300 S2: timely basis. Um, but I would, you know, press into 487 00:27:53,300 --> 00:27:56,700 S2: this a bit more because waiting quietly is, you know, 488 00:27:56,740 --> 00:27:59,540 S2: often the worst move. You, you might want to escalate 489 00:27:59,540 --> 00:28:02,780 S2: this to somebody who can give you some real answers here. Um, 490 00:28:02,780 --> 00:28:06,260 S2: but I think the primary thing to consider is, you know, 491 00:28:06,300 --> 00:28:08,980 S2: let's not focus on the card and let's focus on 492 00:28:08,980 --> 00:28:13,060 S2: the access. So the debit card is a convenience, but 493 00:28:13,100 --> 00:28:15,740 S2: you know, that doesn't ultimately control the money. So I 494 00:28:15,740 --> 00:28:19,699 S2: would ask the new custodian or your HR department a 495 00:28:19,700 --> 00:28:25,020 S2: direct question, and that is, is my HSA account active, funded, 496 00:28:25,020 --> 00:28:28,740 S2: and accessible right now even without the card? And if 497 00:28:28,740 --> 00:28:30,899 S2: the answer is yes, then you know, you should be 498 00:28:30,900 --> 00:28:33,220 S2: able to pay out of pocket and you could reimburse 499 00:28:33,220 --> 00:28:36,979 S2: yourself later from the HSA, or you could pay a 500 00:28:36,980 --> 00:28:42,340 S2: provider online. Once the account access is set up, if 501 00:28:42,340 --> 00:28:44,780 S2: the answer is no, then I would escalate. I mean, 502 00:28:44,820 --> 00:28:47,180 S2: if you don't have access to your money, regardless of 503 00:28:47,180 --> 00:28:49,820 S2: whether or not they've gotten you the new debit card, 504 00:28:49,860 --> 00:28:53,260 S2: that's a problem and they need to rectify that immediately. 505 00:28:53,540 --> 00:28:57,060 S2: And I would really be, you know, pretty adamant that, 506 00:28:57,100 --> 00:28:59,980 S2: you know, you need access right away, even if you, 507 00:29:00,020 --> 00:29:02,300 S2: you know, say something like, listen, I understand the card 508 00:29:02,300 --> 00:29:05,860 S2: is delayed, but I need immediate online access to my 509 00:29:05,900 --> 00:29:08,780 S2: HSA funds. I need you to send me the login 510 00:29:08,780 --> 00:29:12,580 S2: credentials or confirmation that the the account is live today 511 00:29:13,140 --> 00:29:16,460 S2: and you may need to get HR involved. Um, but 512 00:29:16,500 --> 00:29:20,090 S2: what you don't want is any kind of, you know, 513 00:29:20,130 --> 00:29:23,130 S2: anybody to cut you a check. The HSA funds need 514 00:29:23,130 --> 00:29:26,850 S2: to stay in the HSA. We don't want any kind of, 515 00:29:26,890 --> 00:29:32,410 S2: you know, payment, uh, apart from you reimbursing yourself, you know, for, um, 516 00:29:32,530 --> 00:29:35,370 S2: you know, any, uh, any expenses that you can document. 517 00:29:35,370 --> 00:29:36,330 S2: Does that make sense? 518 00:29:37,130 --> 00:29:41,810 S7: Uh, well, to a degree. So what you're saying though, 519 00:29:41,850 --> 00:29:45,570 S7: is if since they haven't ruled the money into this 520 00:29:45,570 --> 00:29:49,930 S7: new one, uh, there is a small amount, but not 521 00:29:49,930 --> 00:29:55,090 S7: enough to pay my hospital bill. Um, so you think 522 00:29:55,090 --> 00:29:59,210 S7: I should try to force them to put that money 523 00:29:59,210 --> 00:30:00,650 S7: into the account? 524 00:30:01,090 --> 00:30:03,330 S2: Yeah. Well, you want to find out where the money 525 00:30:03,330 --> 00:30:06,450 S2: is today. Um, and so if it's still at the 526 00:30:06,450 --> 00:30:11,690 S2: old custodian, then, you know, you should be able to, uh, 527 00:30:11,690 --> 00:30:16,210 S2: you know, access that potentially, um, you know, if it's 528 00:30:16,250 --> 00:30:19,560 S2: at the new custodian, but inaccessible. I think that's where 529 00:30:19,560 --> 00:30:24,400 S2: escalation matters. Um, you know, the other option could be 530 00:30:24,400 --> 00:30:28,520 S2: that you open a personal HSA and then you do 531 00:30:28,520 --> 00:30:33,640 S2: a transfer from the old custodian directly into the personal HSA. 532 00:30:34,080 --> 00:30:37,000 S2: And as long as it stays in the HSA, you know, 533 00:30:37,040 --> 00:30:41,040 S2: then there's no tax consequences or penalties and you regain 534 00:30:41,040 --> 00:30:43,480 S2: control at that point. And, you know, at any point 535 00:30:43,480 --> 00:30:47,479 S2: you can initiate an HSA to HSA transfer. So I 536 00:30:47,480 --> 00:30:49,320 S2: think you need to get a little more information. Are 537 00:30:49,320 --> 00:30:52,080 S2: we a day or hours away from it transferring or 538 00:30:52,080 --> 00:30:53,920 S2: is it going to be a little longer? Stay on 539 00:30:53,920 --> 00:30:55,840 S2: the line. We'll talk a bit more. We'll be right back. 540 00:31:05,040 --> 00:31:06,920 S2: Great to have you with us today on Faith and 541 00:31:06,920 --> 00:31:09,840 S2: Finance Live. By the way, we're not live today. We're 542 00:31:09,840 --> 00:31:11,880 S2: away from the studio. So don't call in. But we 543 00:31:11,880 --> 00:31:15,320 S2: have some great questions that we lined up in advance. 544 00:31:15,320 --> 00:31:19,750 S2: By the way, this ministry is entirely listener supported. That 545 00:31:19,750 --> 00:31:22,750 S2: means we rely on your financial gifts and support to 546 00:31:22,790 --> 00:31:24,870 S2: do what we do on the air every day. If 547 00:31:24,910 --> 00:31:27,550 S2: you consider a gift, we'd certainly be grateful. Just head 548 00:31:27,550 --> 00:31:32,150 S2: to our website faith.com. That's faith f i.com and click 549 00:31:32,190 --> 00:31:35,430 S2: the give button. Thanks in advance. Alright, let's head back 550 00:31:35,430 --> 00:31:38,469 S2: to the phones out to Texas. Hey Ed go ahead sir. 551 00:31:39,710 --> 00:31:42,870 S8: Hey Rob, thank you for taking my call. A few 552 00:31:42,870 --> 00:31:46,150 S8: weeks back, I heard you talking about how the reverse 553 00:31:46,150 --> 00:31:50,190 S8: mortgage industry is completely different above board than it used 554 00:31:50,190 --> 00:31:52,630 S8: to be a few decades ago. That caught my interest, 555 00:31:52,630 --> 00:31:56,510 S8: but I didn't hear more about. Who do you recommend? 556 00:31:56,550 --> 00:32:00,310 S8: Who should I reach out to to get more information? Uh, 557 00:32:00,310 --> 00:32:01,590 S8: could you enlighten me on that? 558 00:32:01,910 --> 00:32:03,830 S2: Yeah, I'd be happy to. And I'll send you a 559 00:32:03,830 --> 00:32:07,270 S2: book just as our gift to you of a book 560 00:32:07,270 --> 00:32:10,030 S2: written by Harlan, who was on the broadcast. Who was 561 00:32:10,030 --> 00:32:13,230 S2: the one you probably heard me interviewing on this topic. 562 00:32:13,230 --> 00:32:16,830 S2: It's called Home equity and reverse mortgages. We'll send that 563 00:32:16,830 --> 00:32:18,430 S2: to you as our gift to allow you to read 564 00:32:18,430 --> 00:32:21,670 S2: up on this ad. But Movement Mortgages is our longtime 565 00:32:21,710 --> 00:32:25,270 S2: underwriter here. It's a faith based company, and they're really 566 00:32:25,270 --> 00:32:28,110 S2: a leader in this space of reverse mortgages. The key 567 00:32:28,110 --> 00:32:30,030 S2: is what you want is and this is all they 568 00:32:30,030 --> 00:32:33,710 S2: do a home equity conversion mortgage. You know, they call 569 00:32:33,710 --> 00:32:36,830 S2: them a reverse mortgage. But the home equity conversion mortgage 570 00:32:36,830 --> 00:32:41,390 S2: is really the official name. And that's the, the one that, 571 00:32:41,430 --> 00:32:43,550 S2: you know, has righted a lot of the ills of 572 00:32:43,550 --> 00:32:47,630 S2: the past, namely, you know, you and a spouse can 573 00:32:47,630 --> 00:32:49,470 S2: stay in the home as long as you want, even 574 00:32:49,470 --> 00:32:52,590 S2: if one of you passes away. Um, you know, the 575 00:32:52,630 --> 00:32:56,670 S2: Federal Housing Administration with a fee that gets paid to 576 00:32:56,670 --> 00:33:00,470 S2: the FHA at closing is going to personally guarantee it. 577 00:33:00,470 --> 00:33:03,350 S2: So if for any reason the home was ever less 578 00:33:03,350 --> 00:33:07,590 S2: valuable than the the total amount owed on the reverse mortgage, 579 00:33:07,950 --> 00:33:10,110 S2: you would never be or your estate would never be 580 00:33:10,110 --> 00:33:13,340 S2: personally liable for that. The home would be sold and 581 00:33:13,340 --> 00:33:16,980 S2: any deficiency balance would be paid by the Federal Housing Administration. 582 00:33:16,980 --> 00:33:18,860 S2: So there's just, you know, you have up to a 583 00:33:18,860 --> 00:33:23,500 S2: year for your your estate or your heirs to, you know, 584 00:33:23,540 --> 00:33:26,340 S2: get it paid off. So there's a lot of benefits there. 585 00:33:26,500 --> 00:33:28,620 S2: So what I would do is, is head to their 586 00:33:28,620 --> 00:33:36,060 S2: website movement.com slash that's movement.com. And, um, they lead with education. 587 00:33:36,060 --> 00:33:38,340 S2: They can talk you through all your questions and help 588 00:33:38,340 --> 00:33:39,420 S2: you get some answers. 589 00:33:40,500 --> 00:33:44,780 S8: Perfect. So you said movement. I'm driving at the same time. 590 00:33:45,180 --> 00:33:50,340 S2: Oh be careful. Yeah. movement.com uh, slash f a I 591 00:33:50,380 --> 00:33:52,740 S2: t h. And you can do that after the fact. 592 00:33:52,740 --> 00:33:54,180 S2: And if you want to hang on the line and 593 00:33:54,180 --> 00:33:57,420 S2: just give my team your information, we'll put that book 594 00:33:57,420 --> 00:33:58,860 S2: in the mail to you as our gift. 595 00:33:59,700 --> 00:34:01,820 S8: Very good. Thank you so much for your information. 596 00:34:01,820 --> 00:34:04,100 S2: All right. And God bless you. Be careful. Let's go 597 00:34:04,100 --> 00:34:05,580 S2: to Kentucky, Phil. Go ahead. 598 00:34:06,540 --> 00:34:09,020 S9: Uh. Hi, Rob. Thank you for taking my call. 599 00:34:09,060 --> 00:34:09,500 S2: Sure. 600 00:34:09,940 --> 00:34:16,410 S9: Um, got some questions. It's complicated to me. I'm not 601 00:34:16,410 --> 00:34:20,169 S9: very good on investing. I'll just be honest. What happened 602 00:34:20,250 --> 00:34:23,850 S9: was my mom went to be with the Lord back 603 00:34:23,850 --> 00:34:29,610 S9: in November, and she has a trust. And in that trust, 604 00:34:29,610 --> 00:34:31,930 S9: there are a few things that are going to come 605 00:34:31,930 --> 00:34:37,730 S9: to me. And there's money. There's two homes and there's 606 00:34:38,330 --> 00:34:44,050 S9: a large piece of property. There is also two small annuities, 607 00:34:44,610 --> 00:34:48,370 S9: which I don't think are in the trust. So I'm 608 00:34:48,370 --> 00:34:52,770 S9: trying to figure out how to navigate if if I 609 00:34:52,770 --> 00:34:56,850 S9: have to start a trust right away, how to deal 610 00:34:56,850 --> 00:34:57,770 S9: with all this. 611 00:34:58,650 --> 00:35:02,410 S2: Yeah. Well, I'm sorry to hear about your mom's passing. Um, 612 00:35:02,489 --> 00:35:05,489 S2: I will say from a financial planning and just a 613 00:35:05,530 --> 00:35:10,400 S2: practical standpoint, the trust does simplify things. Uh, so when 614 00:35:10,400 --> 00:35:12,799 S2: you have a parent whose assets are in a trust, 615 00:35:12,960 --> 00:35:17,040 S2: you want to first confirm who the trustee is. Uh, 616 00:35:17,040 --> 00:35:20,840 S2: that's the only person with the legal authority to act. 617 00:35:20,880 --> 00:35:22,880 S2: Do you happen to know if that's you? 618 00:35:23,560 --> 00:35:26,799 S9: Yeah, it's shared between myself and my older brother. 619 00:35:27,040 --> 00:35:32,160 S2: Okay. Got it. Yeah. So if it's a revocable trust, uh, 620 00:35:32,280 --> 00:35:35,880 S2: you know, which most family trusts are, it's revocable while 621 00:35:36,040 --> 00:35:39,640 S2: your mom or your parents were alive becomes irrevocable at death. 622 00:35:40,000 --> 00:35:43,319 S2: Once she passed, the trust is now its own legal entity. 623 00:35:43,600 --> 00:35:48,799 S2: And you and your brother as trustees, have fiduciary duty 624 00:35:49,080 --> 00:35:52,680 S2: to follow the trust terms. So next step would be 625 00:35:52,680 --> 00:35:56,120 S2: to get the documents, the trust document, and any amendments 626 00:35:56,440 --> 00:35:59,589 S2: and get copies of the death certificate, probably 8 to 627 00:35:59,590 --> 00:36:04,120 S2: 10 of them, and pull statements for, you know, the 628 00:36:04,120 --> 00:36:09,989 S2: investment accounts, any property held, any annuities payable to the trust. Um, 629 00:36:10,150 --> 00:36:14,350 S2: everything flows from that trust document. And then you want 630 00:36:14,390 --> 00:36:16,710 S2: to understand how the assets are going to be distributed 631 00:36:16,710 --> 00:36:19,750 S2: and the trust will spell that out. So who gets 632 00:36:19,790 --> 00:36:22,870 S2: what and when is it immediately? Is it over time? 633 00:36:22,870 --> 00:36:25,430 S2: Is it at certain ages? And then how is it 634 00:36:25,430 --> 00:36:28,830 S2: lump sum or is, you know, in an ongoing trust. 635 00:36:29,350 --> 00:36:32,670 S2: And then you have to just consider the taxes. So, 636 00:36:33,150 --> 00:36:36,350 S2: you know, trusts may need to pay their own tax. 637 00:36:36,630 --> 00:36:39,710 S2: I mean, they typically have their own tax ID, uh, 638 00:36:39,750 --> 00:36:43,030 S2: property receives a step up in basis, which just simply 639 00:36:43,030 --> 00:36:45,630 S2: means that the market value was stepped up to the 640 00:36:45,630 --> 00:36:49,310 S2: date of her death in November. Annuities may have taxable 641 00:36:49,310 --> 00:36:51,989 S2: income inside them. And so the trust is going to 642 00:36:51,989 --> 00:36:55,109 S2: file a tax return. And this where this is where 643 00:36:55,110 --> 00:36:59,150 S2: having a CPA helping you is really key. And I 644 00:36:59,150 --> 00:37:03,070 S2: would say don't rush the distributions. You know, once the 645 00:37:03,110 --> 00:37:05,310 S2: money leaves the trust, you can't undo it. So you 646 00:37:05,310 --> 00:37:09,390 S2: want to pay the final expenses, pay any taxes, get clarity. 647 00:37:09,710 --> 00:37:12,310 S2: And then the trust document will tell you how to 648 00:37:12,350 --> 00:37:15,150 S2: how to distribute all of the assets. And if you 649 00:37:15,150 --> 00:37:18,029 S2: need assistance, you, you know, perhaps could reach out to 650 00:37:18,070 --> 00:37:21,030 S2: the attorney that drafted the trust and have that person 651 00:37:21,030 --> 00:37:24,469 S2: advise you along the way. But that trust document is 652 00:37:24,469 --> 00:37:27,550 S2: really going to tell you exactly what what needs to happen. 653 00:37:27,550 --> 00:37:30,510 S2: And you just want to settle everything out and then 654 00:37:30,550 --> 00:37:34,390 S2: you distribute according to the trust. Once everything, including those 655 00:37:34,390 --> 00:37:37,709 S2: annuities are paid into the trust. Uh, you know, based 656 00:37:37,710 --> 00:37:38,589 S2: on the terms. 657 00:37:39,190 --> 00:37:42,990 S9: Okay, I do understand that it's my understanding that that's 658 00:37:42,989 --> 00:37:46,109 S9: two small annuities were not in the trust. 659 00:37:47,110 --> 00:37:50,950 S2: Okay. Yeah. Um, and so did they. What was the 660 00:37:50,950 --> 00:37:52,870 S2: beneficiary situation on those? 661 00:37:53,790 --> 00:37:58,270 S9: Um, so it was paid out basically split between my 662 00:37:58,270 --> 00:37:59,430 S9: brother and myself. 663 00:37:59,710 --> 00:38:00,110 S2: Okay. 664 00:38:00,150 --> 00:38:04,950 S9: Yeah. And he, he's already taken possession of both of them. 665 00:38:05,430 --> 00:38:08,500 S9: I took possession of the smaller one, but I have 666 00:38:08,500 --> 00:38:10,020 S9: to do the larger one now. 667 00:38:10,420 --> 00:38:14,859 S2: Okay. Yeah. So I mean, the, uh, when annuities are 668 00:38:14,860 --> 00:38:19,900 S2: not in a trust, the beneficiary designation is everything because 669 00:38:19,900 --> 00:38:23,779 S2: it pays directly to the beneficiary. So the beneficiary contacts 670 00:38:23,780 --> 00:38:26,900 S2: the annuity company with the death certificate and a claim form. 671 00:38:27,300 --> 00:38:30,140 S2: And then, you know, they would pay that out. And 672 00:38:30,140 --> 00:38:34,500 S2: annuities aren't tax free inheritances. So only the earnings portion 673 00:38:34,500 --> 00:38:38,180 S2: is taxable. The original principal is not taxed again. And 674 00:38:38,180 --> 00:38:40,259 S2: they usually give you options. You can either take a 675 00:38:40,260 --> 00:38:42,219 S2: lump sum or you can stretch it and pay it 676 00:38:42,219 --> 00:38:45,739 S2: out over time. Um, and then you would want to 677 00:38:45,780 --> 00:38:49,580 S2: coordinate with the trust but keep the roles separate. Uh, 678 00:38:49,580 --> 00:38:51,620 S2: so the, you know, you and your brother would handle 679 00:38:51,620 --> 00:38:55,260 S2: the trust assets and then, you know, as the beneficiary, 680 00:38:55,300 --> 00:38:58,740 S2: you would just get the annuity, um, you know, funds 681 00:38:58,739 --> 00:39:01,340 S2: coming directly to you and you'll work with the annuity 682 00:39:01,340 --> 00:39:04,180 S2: company on how that's to be distributed either all at 683 00:39:04,180 --> 00:39:05,370 S2: once or over time. 684 00:39:07,170 --> 00:39:12,169 S9: Okay, I understand that the money that's coming. I don't 685 00:39:12,170 --> 00:39:15,089 S9: know the exact amount. I think it's going to be 686 00:39:15,090 --> 00:39:18,569 S9: north of 200,000. So I'm trying to figure out what 687 00:39:18,610 --> 00:39:24,370 S9: to do with that money. I'm 65 and I'm still working. Um, 688 00:39:24,730 --> 00:39:27,530 S9: planning to work probably till age 67. 689 00:39:28,050 --> 00:39:31,129 S2: Okay. Yeah. So, you know, this would be a great 690 00:39:31,130 --> 00:39:34,650 S2: opportunity for you to connect with a certified kingdom advisor. Phil, 691 00:39:34,810 --> 00:39:37,370 S2: just to sit down. And even if you're not hiring 692 00:39:37,370 --> 00:39:39,890 S2: somebody to manage any money for you, although you may 693 00:39:39,930 --> 00:39:42,650 S2: want to. Once you receive the, you know, whatever proceeds 694 00:39:42,650 --> 00:39:44,850 S2: are coming your way, it sounds like the 200,000 is 695 00:39:44,850 --> 00:39:47,890 S2: just the beginning, because there's property and other assets that 696 00:39:47,890 --> 00:39:50,129 S2: are likely going to be coming your way. I think 697 00:39:50,130 --> 00:39:52,930 S2: the starting point is really a discovery process where the 698 00:39:52,930 --> 00:39:55,330 S2: advisor would get to know you and you know, your 699 00:39:55,330 --> 00:39:58,569 S2: your lifestyle needs in terms of your spending. You know, 700 00:39:58,610 --> 00:40:02,730 S2: ultimately your long term goals and objectives aligned with your 701 00:40:02,730 --> 00:40:06,200 S2: values as a Christ follower. Uh, you know, determining how 702 00:40:06,200 --> 00:40:08,640 S2: to manage this money in a way that's appropriate for 703 00:40:08,640 --> 00:40:11,560 S2: your age and risk tolerance. So, you know, that person 704 00:40:11,560 --> 00:40:14,640 S2: would do a financial plan for you and then perhaps 705 00:40:14,640 --> 00:40:17,360 S2: take over the management of the assets that are coming 706 00:40:17,360 --> 00:40:20,240 S2: your way once it's all settled out. And that way 707 00:40:20,400 --> 00:40:24,040 S2: you don't have that burden and responsibility of investing it or, 708 00:40:24,160 --> 00:40:27,080 S2: you know, figuring out how to get it working for you. 709 00:40:27,120 --> 00:40:30,040 S2: You could delegate that to somebody who's going to work 710 00:40:30,040 --> 00:40:32,719 S2: with you and make sure that it's done in alignment 711 00:40:32,719 --> 00:40:34,839 S2: with your age and risk tolerance. 712 00:40:36,960 --> 00:40:40,439 S9: Okay, that sounds good. Uh, I don't think there's one 713 00:40:40,440 --> 00:40:44,280 S9: close to me, but I think there's one within maybe a, 714 00:40:44,480 --> 00:40:45,960 S9: an hour and a half or so. 715 00:40:46,280 --> 00:40:49,279 S2: Okay. Yeah. Uh, it sounds like you've already looked, but 716 00:40:49,280 --> 00:40:51,960 S2: you could go to find a c k a.com, do 717 00:40:51,960 --> 00:40:54,920 S2: a zip code search, but you know, oftentimes maybe you 718 00:40:54,920 --> 00:40:57,880 S2: do that initial meeting, uh, you know, in person and 719 00:40:57,880 --> 00:41:00,440 S2: then maybe you, you know, you meet virtually, you know, 720 00:41:00,480 --> 00:41:03,640 S2: from that point forward, if that's easier. Especially if it's 721 00:41:03,640 --> 00:41:05,839 S2: not somebody right there in your immediate area. But I 722 00:41:05,840 --> 00:41:09,040 S2: think having that that trusted advisor to walk alongside you, 723 00:41:09,040 --> 00:41:12,440 S2: especially one who shares your values, um, you know, would 724 00:41:12,440 --> 00:41:15,120 S2: be really helpful just given all of the things that 725 00:41:15,120 --> 00:41:18,879 S2: are swirling here and the responsibility and opportunity you have 726 00:41:18,880 --> 00:41:21,840 S2: to steward these assets that will be coming your way. 727 00:41:22,480 --> 00:41:26,799 S9: Exactly. Thank you. Uh, can I ask a quick question? 728 00:41:26,840 --> 00:41:27,400 S2: Yes, sir. 729 00:41:28,040 --> 00:41:31,319 S9: On the faith app. We haven't used it yet, but 730 00:41:31,320 --> 00:41:34,480 S9: I heard you say it's revamped. We haven't really been 731 00:41:34,480 --> 00:41:36,560 S9: doing a budget, and I want to get us on 732 00:41:36,560 --> 00:41:40,000 S9: a budget. And so would that app help us do that? 733 00:41:40,040 --> 00:41:42,680 S2: It would let me do this. I appreciate you being 734 00:41:42,680 --> 00:41:44,680 S2: on today and I'd love to, uh, to give you 735 00:41:44,680 --> 00:41:47,600 S2: some assistance. I'm going to connect you at no cost 736 00:41:47,719 --> 00:41:51,480 S2: with one of our certified Christian financial counselors who can 737 00:41:51,480 --> 00:41:54,200 S2: walk with you guys, help you get it set up, 738 00:41:54,400 --> 00:41:56,920 S2: help you get your budget in place, be a sounding 739 00:41:56,920 --> 00:41:59,239 S2: board for you. This is not someone to do the 740 00:41:59,239 --> 00:42:02,070 S2: financial planning or the or investments. This is just somebody 741 00:42:02,070 --> 00:42:05,230 S2: focused on the spending side and getting you all set 742 00:42:05,270 --> 00:42:08,710 S2: up in the app and on a good trajectory. So 743 00:42:08,910 --> 00:42:10,549 S2: if you stay on the line, Phil, we'll get your 744 00:42:10,550 --> 00:42:13,710 S2: information and get a certified Christian financial counselor in touch 745 00:42:13,710 --> 00:42:14,430 S2: with you. Okay. 746 00:42:14,989 --> 00:42:15,990 S9: Thank you very much, Rob. 747 00:42:15,989 --> 00:42:16,430 S1: Appreciate it. 748 00:42:16,469 --> 00:42:18,750 S2: Happy to do it. Yes, sir. God bless you, folks. 749 00:42:18,750 --> 00:42:21,350 S2: We really appreciate you being with us. You heard Phil 750 00:42:21,350 --> 00:42:23,029 S2: mention the Faith V app. If you want to check 751 00:42:23,030 --> 00:42:27,630 S2: it out, faith 550 is out. It's rebuilt. New interface, 752 00:42:27,630 --> 00:42:30,310 S2: simple to use, can help you get on track with 753 00:42:30,310 --> 00:42:32,790 S2: your budget and stay there, but it'll also help you 754 00:42:32,790 --> 00:42:36,430 S2: establish some rhythms that include both your money management and 755 00:42:36,430 --> 00:42:40,069 S2: your walk with Jesus. Blending those together, it's pretty incredible. Well, 756 00:42:40,070 --> 00:42:42,109 S2: that's going to do it for us today. Faith and 757 00:42:42,110 --> 00:42:45,430 S2: Finance Live is a partnership between Moody Radio and Faith fi. 758 00:42:45,469 --> 00:42:48,910 S2: Thank you to my amazing broadcast team. I couldn't do 759 00:42:48,910 --> 00:42:50,750 S2: this without them. I hope you have a great rest 760 00:42:50,750 --> 00:42:52,950 S2: of your day and we'll see you next time on 761 00:42:52,950 --> 00:42:54,350 S2: Faith and Finance Live.