WEBVTT - It Is Finished 0:00:02.759 --> 0:00:06.240 Today's version of Faith and Finance Live is pre-recorded, so 0:00:06.240 --> 0:00:08.840 our phone lines are not open for, you know, the 0:00:08.840 --> 0:00:11.960 grace of our Lord Jesus Christ, that though he was rich, 0:00:12.000 --> 0:00:15.160 yet for your sake he became poor, so that you 0:00:15.160 --> 0:00:19.800 by his poverty might become rich. Second Corinthians eight nine. Hi, 0:00:19.840 --> 0:00:22.880 I'm Rob West. That's an encouraging truth for what is 0:00:22.880 --> 0:00:26.360 often felt as a somber day. It's Good Friday, the 0:00:26.360 --> 0:00:29.080 day we set aside to reflect on the crucifixion of 0:00:29.080 --> 0:00:32.720 Christ and what truly happened on that cross over 2000 0:00:32.720 --> 0:00:36.040 years ago. Today we'll talk about the greatest act of 0:00:36.040 --> 0:00:39.200 grace in human history. Then we have some great questions 0:00:39.200 --> 0:00:41.560 lined up for you. But don't call in today because 0:00:41.560 --> 0:00:46.000 we're pre-recorded. This is faith and finance. Live biblical wisdom 0:00:46.000 --> 0:00:53.560 for your financial journey. For centuries, Christians have called this 0:00:53.560 --> 0:00:57.000 day Good Friday, and it is good, but not because 0:00:57.000 --> 0:01:00.270 the events were easy or lighthearted. It's good because of 0:01:00.270 --> 0:01:03.830 what Christ accomplished for us. For many believers, this day 0:01:03.830 --> 0:01:07.470 carries a mix of emotions. There's the sorrow of remembering 0:01:07.470 --> 0:01:10.750 the suffering Jesus endured, and the weight of knowing it 0:01:10.750 --> 0:01:13.750 was our sin that led him there. And yet, there's 0:01:13.750 --> 0:01:17.030 also overwhelming gratitude for the love of the father who 0:01:17.030 --> 0:01:20.110 gave his son, and for the son who willingly laid 0:01:20.110 --> 0:01:22.790 down his life. It's a day to reflect on the 0:01:22.790 --> 0:01:26.110 reality that Jesus bore the full weight of our sins 0:01:26.110 --> 0:01:28.990 on the cross, suffering in our place so that we 0:01:28.990 --> 0:01:32.990 could be reconciled to God. That's the wonder of the cross. 0:01:33.230 --> 0:01:37.670 But along with sorrow and gratitude, there's also anticipation. Because 0:01:37.670 --> 0:01:41.149 we know what Sunday brings the resurrection of Jesus and 0:01:41.150 --> 0:01:44.110 the promise of eternal life with him. Good Friday is 0:01:44.110 --> 0:01:46.790 not the end of the story. It's the turning point. 0:01:46.790 --> 0:01:49.150 And that's why we call it good. Now, here on 0:01:49.150 --> 0:01:51.990 faith and finance, we often talk about money, how to 0:01:52.030 --> 0:01:54.670 steward it well and use it for God's glory. But 0:01:54.670 --> 0:02:00.220 the Bible also uses financial imagery to To describe spiritual realities. 0:02:00.220 --> 0:02:04.700 In fact, Scripture is full of words like debt, ransom, redemption, 0:02:04.700 --> 0:02:09.059 and inheritance because those terms helped people understand the profound 0:02:09.060 --> 0:02:13.700 truths of the gospel in everyday language. Take Romans 623, 0:02:13.700 --> 0:02:16.940 for example. For the wages of sin is death, but 0:02:16.940 --> 0:02:19.580 the free gift of God is eternal life in Christ 0:02:19.580 --> 0:02:23.980 Jesus our Lord. Or Mark 1045 where Jesus says, for 0:02:23.980 --> 0:02:26.580 even the Son of Man did not come to be served, 0:02:26.580 --> 0:02:29.220 but to serve, and to give his life as a 0:02:29.220 --> 0:02:33.820 ransom for many. And First Corinthians 620 reminds us, you 0:02:33.820 --> 0:02:37.220 are bought with a price, so glorify God in your body. 0:02:37.540 --> 0:02:41.419 These verses speak of something far deeper than finances. They 0:02:41.419 --> 0:02:44.940 describe the cost of sin and the beauty of God's grace. 0:02:45.220 --> 0:02:48.540 Our sin didn't just lead to guilt. It separated us 0:02:48.540 --> 0:02:51.580 from the very presence of God, cutting us off from 0:02:51.580 --> 0:02:54.180 the one who is the source of life and love. 0:02:54.340 --> 0:02:57.940 Left to ourselves, we had no way to bridge that gap. 0:02:58.260 --> 0:03:02.100 But Jesus came to restore what was broken. As Jesus 0:03:02.100 --> 0:03:05.220 breathed his last on the cross, the Gospel of John 0:03:05.220 --> 0:03:09.220 records him saying, it is finished. In the original Greek, 0:03:09.260 --> 0:03:13.500 the word is tetelestai. In ancient times, this saying was 0:03:13.500 --> 0:03:16.579 packed with meaning. It was spoken by servants who had 0:03:16.580 --> 0:03:20.660 completed their assigned tasks. It was declared by artists when 0:03:20.660 --> 0:03:24.820 a masterpiece was complete. It was proclaimed by priests after 0:03:24.860 --> 0:03:29.620 inspecting a spotless lamb for sacrifice, and most significantly, it 0:03:29.620 --> 0:03:32.619 was written on receipts to indicate that a debt had 0:03:32.620 --> 0:03:37.339 been fully paid. No remaining balance, nothing left owed. So 0:03:37.340 --> 0:03:41.060 when Jesus declared it is finished from the cross, he 0:03:41.060 --> 0:03:44.500 wasn't simply marking the end of his earthly life. He 0:03:44.500 --> 0:03:48.540 was proclaiming the completion of his mission. The work of 0:03:48.540 --> 0:03:52.340 salvation was done. The debt of sin was cancelled. The 0:03:52.340 --> 0:03:56.250 great chasm between God and humanity was bridged not by 0:03:56.250 --> 0:03:59.890 our effort, but by his sacrifice. And here's the beauty 0:03:59.890 --> 0:04:03.330 of Jesus final words. They remind us that we don't 0:04:03.330 --> 0:04:06.410 live in a state of spiritual deficit. We live in 0:04:06.410 --> 0:04:10.170 the overflow of grace. Jesus didn't make a down payment 0:04:10.170 --> 0:04:13.210 on our salvation. He paid it in full. There is 0:04:13.210 --> 0:04:16.770 nothing left for us to earn or achieve. No good 0:04:16.770 --> 0:04:20.250 work can add to what he has finished. We simply 0:04:20.250 --> 0:04:23.810 receive it by faith and live in the freedom it brings. 0:04:24.170 --> 0:04:27.490 So on this Good Friday, as we reflect on the cross, 0:04:27.490 --> 0:04:32.450 we're invited to hear those final words of Jesus tetelestai 0:04:32.650 --> 0:04:36.930 with awe and gratitude. It is finished. The debt of 0:04:36.930 --> 0:04:41.330 sin has been paid in full completely forever. Nothing remains 0:04:41.330 --> 0:04:45.810 for us to earn, prove or repay. And that changes everything. 0:04:46.089 --> 0:04:49.610 We are free. Free from guilt, free from striving. Free 0:04:49.610 --> 0:04:52.530 to live for the one who gave everything for us. 0:04:52.570 --> 0:04:55.880 Obedience is no longer a duty to earn favor, but 0:04:55.880 --> 0:04:59.200 a joyful response to his grace. In light of the 0:04:59.200 --> 0:05:03.040 finished work of Christ, we now live to follow him, 0:05:03.040 --> 0:05:06.440 not to gain life, but because in him we've already 0:05:06.440 --> 0:05:09.040 found it. All right, we're going to head to a break, 0:05:09.040 --> 0:05:11.679 so don't go anywhere. Still a lot more to come, 0:05:11.680 --> 0:05:14.080 even though we're away from the studio today and you 0:05:14.080 --> 0:05:16.800 shouldn't call in. We have some great questions that you're 0:05:16.800 --> 0:05:19.400 really going to enjoy as we continue to apply God's 0:05:19.400 --> 0:05:35.320 wisdom to your financial decisions. We'll be right back. Great 0:05:35.320 --> 0:05:37.800 to have you with us today on faith and finance live. 0:05:37.800 --> 0:05:40.200 By the way, we're not live. Today we're away from 0:05:40.200 --> 0:05:42.680 the studio, so don't call in. But we have some 0:05:42.680 --> 0:05:46.080 great questions that we lined up in advance, by the way. 0:05:46.360 --> 0:05:50.560 This ministry is entirely listener supported. That means we rely 0:05:50.560 --> 0:05:53.430 on your financial gifts and support to do what we 0:05:53.430 --> 0:05:56.070 do on the air every day. If you consider a gift, 0:05:56.110 --> 0:05:59.670 we'd certainly be grateful. Just head to our website, Philly.com. 0:05:59.670 --> 0:06:04.190 That's faith for.com and click the give button. Thanks in advance. 0:06:04.230 --> 0:06:06.190 All right. Let's get to our calls today that we've 0:06:06.190 --> 0:06:08.790 lined up for you. Let's go to Arkansas. Hi, Dennis. 0:06:08.830 --> 0:06:09.390 Go ahead. 0:06:09.630 --> 0:06:13.150 Uh, yes. Uh, can you recommend a burial insurance of 0:06:13.150 --> 0:06:13.870 any kind? 0:06:14.230 --> 0:06:18.070 Uh, yeah. You know, I don't recommend specific companies on that, 0:06:18.070 --> 0:06:21.310 but I will say just kind of generally this final 0:06:21.310 --> 0:06:25.229 expense insurance, you know, is essentially a small life insurance 0:06:25.230 --> 0:06:28.429 policy for a specific purpose, and that is funeral and 0:06:28.430 --> 0:06:31.790 related costs. The benefits of them are, you know, you're 0:06:31.790 --> 0:06:34.550 going to have affordable premiums. They have what is called 0:06:34.550 --> 0:06:39.270 guaranteed acceptance. So they generally don't require a medical exam, uh, 0:06:39.310 --> 0:06:42.190 you know, a quick payout, it'll cover the funeral expenses 0:06:42.190 --> 0:06:45.270 and you have a set premium. The problem with them is, though, 0:06:45.310 --> 0:06:48.909 that they have a higher cost per coverage. So compared 0:06:48.910 --> 0:06:54.550 to traditional life insurance options. Burial insurance is, you know, 0:06:54.589 --> 0:06:57.670 a higher cost per thousand dollars of coverage and it's 0:06:57.670 --> 0:07:02.270 limited coverage. It only goes generally up to 50,000. Um, 0:07:02.550 --> 0:07:04.830 and so you could, if you live a long time, 0:07:04.870 --> 0:07:08.350 pay more in premiums than the policies payout amount. And 0:07:08.350 --> 0:07:11.070 then some have a two year waiting period before the 0:07:11.070 --> 0:07:14.230 full benefits are even paid. So if you passed away 0:07:14.470 --> 0:07:17.790 in those, you know, two years, God forbid, um, your 0:07:17.790 --> 0:07:21.870 beneficiaries might not receive the full amount. So another option 0:07:21.870 --> 0:07:25.150 would be, you know, just to save and invest, take 0:07:25.150 --> 0:07:28.190 that same money and put it into an investment. Um, 0:07:28.230 --> 0:07:32.989 you could just use traditional term life insurance while you're 0:07:32.990 --> 0:07:36.310 building your assets, because what the likely scenario is that 0:07:36.310 --> 0:07:39.350 there'd be plenty there. You know, once you're through your 0:07:39.350 --> 0:07:42.950 working years that you could even designate to a, to 0:07:42.990 --> 0:07:47.670 a beneficiary, um, so that money is readily available. Uh, 0:07:47.830 --> 0:07:50.620 and so you'd just be covering your working years so 0:07:50.620 --> 0:07:55.020 that if something happened, you know, you could get more coverage. Um, 0:07:55.020 --> 0:07:57.500 you know, with higher coverage amounts and a lower cost 0:07:57.540 --> 0:08:00.940 through just traditional life insurance. So I think, you know, 0:08:00.980 --> 0:08:02.900 these are the the options that you have. But if 0:08:02.940 --> 0:08:05.980 you are wanting to go with a burial policy, then 0:08:05.980 --> 0:08:08.980 I think, you know, you need to, uh, you know, 0:08:09.140 --> 0:08:11.860 get an insurance agent who can help you find the 0:08:11.860 --> 0:08:14.340 very best one. Unfortunately, I wouldn't have a specific company 0:08:14.340 --> 0:08:15.180 to recommend. 0:08:15.220 --> 0:08:18.020 Yeah. All right. Well, I appreciate you all. And this 0:08:18.020 --> 0:08:19.420 is my first time calling. 0:08:19.540 --> 0:08:22.940 Well, I'm so glad, and I appreciate you listening. Uh, 0:08:22.940 --> 0:08:25.300 God bless you. Call anytime, sir. We appreciate you being 0:08:25.300 --> 0:08:27.540 on the program today. Uh, before we head back to 0:08:27.540 --> 0:08:30.060 the phones in the news, home buyers are putting down 0:08:30.060 --> 0:08:33.100 more money at the closing table these days. That's right. 0:08:33.100 --> 0:08:37.540 The typical buyers down payment is now 16.3% of the 0:08:37.540 --> 0:08:41.179 home's price. That's up from 15% a year ago. At 0:08:41.179 --> 0:08:44.819 the same time, a 31% of home buyers are paying 0:08:44.820 --> 0:08:48.650 all cash for a new home, down from 34% a 0:08:48.650 --> 0:08:52.610 year ago. All of this from, uh, an analyst by 0:08:52.610 --> 0:08:58.770 Redfin of county records in the 40 most populous metropolitan areas. Uh, 0:08:58.770 --> 0:09:02.410 the typical home buyer is now putting down about $63,000, 0:09:02.410 --> 0:09:06.490 which is 4000 more than last year. Analysts say this 0:09:06.490 --> 0:09:10.410 is largely because home prices have risen about 6% in 0:09:10.450 --> 0:09:12.410 the past year, and that's on top of all the 0:09:12.410 --> 0:09:15.570 increases we had in the years prior. Uh, also, the 0:09:15.570 --> 0:09:19.930 larger down payment statistic includes buyers who are using equity 0:09:19.970 --> 0:09:22.730 from the previous sale of a home. It's not limited 0:09:22.730 --> 0:09:26.050 to first time home buyers who had to save up, uh, 0:09:26.050 --> 0:09:29.449 a down payment from scratch. And obviously, with the rising 0:09:29.850 --> 0:09:33.250 home prices, if you had an existing home that you sold, 0:09:33.250 --> 0:09:37.170 you're pulling out more equity, uh, from those properties, which 0:09:37.170 --> 0:09:38.930 is allowing you then to roll that in in the 0:09:38.929 --> 0:09:41.770 form of a higher down payment. Bottom line, it's still 0:09:41.770 --> 0:09:44.650 a challenge to buy a home these days. Home affordability 0:09:44.850 --> 0:09:48.920 is difficult. Uh, But you will not regret saving as 0:09:48.920 --> 0:09:51.760 much as you can before doing it. That will help 0:09:51.760 --> 0:09:54.280 to lower the amount you have to borrow, and that 0:09:54.280 --> 0:09:57.400 will save you thousands of dollars in interest over the years, 0:09:57.440 --> 0:10:01.000 you know. Keep in mind among the three budget busters 0:10:01.040 --> 0:10:05.880 is food and transportation and yes, housing. So just be careful. 0:10:05.880 --> 0:10:09.280 Don't stretch to buy a house you really can't afford, 0:10:09.720 --> 0:10:13.840 because that is going to just really hinder your ability 0:10:13.840 --> 0:10:16.760 to accomplish your other financial goals, as you have too 0:10:16.760 --> 0:10:19.680 much going on in the housing category. What is that number? 0:10:19.760 --> 0:10:22.720 I would say certainly no more than 30% of your 0:10:22.720 --> 0:10:26.200 take home pay to principal interest, taxes and insurance. I'd 0:10:26.200 --> 0:10:30.480 prefer that to be at 25%. I know that's challenging, 0:10:31.120 --> 0:10:33.160 but that would really be the key because then you'd 0:10:33.160 --> 0:10:36.120 have enough left for everything else. The other piece I 0:10:36.120 --> 0:10:39.319 would say is make sure you have at least a 20% 0:10:39.320 --> 0:10:42.480 down payment. As I said here, the the typical buyer 0:10:42.480 --> 0:10:45.990 right now is putting down 16.3%, which means they have 0:10:45.990 --> 0:10:49.870 private mortgage insurance. That doesn't help you. That's for the lender. 0:10:49.870 --> 0:10:55.030 It's just an extra unnecessary expense. About 1% of the mortgage. Um, 0:10:55.070 --> 0:10:57.510 and so, you know, try to avoid that by getting 0:10:57.510 --> 0:11:01.709 that 20% down. That's going to avoid you paying unnecessary interest. 0:11:01.750 --> 0:11:05.350 Keep your payment more manageable. And if that means you 0:11:05.350 --> 0:11:07.910 need to delay that purchase for a season, I'd just 0:11:07.910 --> 0:11:10.910 say do it and uh, and save, save, save. All right. 0:11:10.910 --> 0:11:14.150 I hope that's helpful. Let's head back to the phones. Uh, 0:11:14.150 --> 0:11:16.030 to Mississippi. Hi, Mike. Go ahead. 0:11:16.550 --> 0:11:19.030 Uh, I was just going to comment about the, uh, 0:11:19.030 --> 0:11:22.590 the guy that's asking about the insurance policies here in Mississippi. 0:11:22.590 --> 0:11:25.390 We can go to our funeral home and make arrangements 0:11:25.390 --> 0:11:27.309 through the funeral home and go in and pick out 0:11:27.309 --> 0:11:29.670 your casket and everything you want to do and pay 0:11:29.670 --> 0:11:32.069 through the funeral home, too. So that's, uh, there's another 0:11:32.070 --> 0:11:34.030 option for him if he wants to try that. 0:11:34.070 --> 0:11:36.910 Mike, I'm glad you mentioned that. You're exactly right. So 0:11:36.950 --> 0:11:40.870 the alternatives would be just save and invest on your own. Uh, 0:11:40.870 --> 0:11:43.990 you know, you could have, uh, life insurance, traditional life insurance. 0:11:44.150 --> 0:11:47.670 But you're right, that pre-paid funeral plan through a funeral 0:11:47.670 --> 0:11:50.750 home is an option. The benefit there is you're locking 0:11:50.750 --> 0:11:54.710 in today's funeral costs, and it reduces the burden on 0:11:54.710 --> 0:11:57.590 the family at the time of death. The only downside 0:11:57.590 --> 0:12:01.230 I would offer there is just limited flexibility. So if 0:12:01.270 --> 0:12:04.750 you move, the plan may not transfer. That may not 0:12:04.750 --> 0:12:07.150 be a concern. But just know that that's the case. 0:12:07.150 --> 0:12:09.309 And then the only other risk here is that if 0:12:09.309 --> 0:12:12.750 the funeral home goes out of business and it does happen, 0:12:12.750 --> 0:12:15.550 it's rare, but it does happen, then you could lose 0:12:15.550 --> 0:12:18.430 that money. So just be aware of the the risk 0:12:18.429 --> 0:12:21.510 related to that in that situation. But Mike, it's a 0:12:21.510 --> 0:12:25.510 great suggestion, sir, and I appreciate you calling that out today. 0:12:25.550 --> 0:12:28.829 Appreciate your call. Uh, you know, when we talk about insurance, 0:12:28.830 --> 0:12:31.550 by the way, it's important to note that when we 0:12:31.550 --> 0:12:34.910 talk about life insurance, uh, I think it's really critical 0:12:34.910 --> 0:12:39.110 that everyone has life insurance during their working years. See, remember, 0:12:39.150 --> 0:12:42.470 the purpose of life insurance is to offset the risk 0:12:42.470 --> 0:12:46.380 that you died during your working years. You have a dependent, 0:12:46.380 --> 0:12:49.780 usually your spouse who's counting on that income and it 0:12:49.780 --> 0:12:53.060 goes away. And that's a significant risk in terms of them, 0:12:53.100 --> 0:12:57.380 your spouse continuing to main maintain their lifestyle. And so 0:12:57.380 --> 0:13:00.100 we get enough coverage, which is usually 10 to 12 0:13:00.140 --> 0:13:03.540 times your income, to be able to replace that income 0:13:03.820 --> 0:13:06.060 by way of you getting a lump sum that you 0:13:06.059 --> 0:13:09.860 could then invest and maintain your lifestyle. Some folks will 0:13:09.860 --> 0:13:12.780 add to that 10 to 12 times your income. Uh, 0:13:12.780 --> 0:13:15.700 the cost of college for the kids. Some will do 0:13:15.740 --> 0:13:19.020 10 to 12 times plus college plus the home mortgage. 0:13:19.020 --> 0:13:21.620 Because think about that. If you knew, okay, my spouse 0:13:21.660 --> 0:13:24.380 has passed away. I've got 10 to 12 times his 0:13:24.380 --> 0:13:27.140 or her income to invest and draw the income on 0:13:27.179 --> 0:13:30.099 the house is now paid off. So that drops the expense. 0:13:30.100 --> 0:13:34.220 And the college's, uh, tuitions are funded. Now we're in 0:13:34.220 --> 0:13:37.380 a pretty solid financial position. Well, the way to get 0:13:37.380 --> 0:13:39.260 that amount of coverage, which is going to be a 0:13:39.260 --> 0:13:43.570 sizable policy for most folks, is term insurance. See, that's 0:13:43.570 --> 0:13:46.330 going to keep the cost of insurance as low as possible, 0:13:46.370 --> 0:13:49.290 because you're getting as much coverage as you need and 0:13:49.290 --> 0:13:52.180 keeping that cost at a minimum, probably at 20 or 0:13:52.179 --> 0:13:55.370 30 year policy. But remember, the idea is, Lord willing, 0:13:55.370 --> 0:13:57.890 you never collect on it, and then you drop it 0:13:57.890 --> 0:14:00.890 when you get to retirement because you have other assets 0:14:00.890 --> 0:14:04.170 and your spouse is no longer depending upon your income. 0:14:04.170 --> 0:14:06.690 So think about that. If you don't have that coverage, 0:14:06.730 --> 0:14:09.090 put that in place. So we're caring for loved ones 0:14:09.090 --> 0:14:11.610 even after death. Well folks, we're going to head to 0:14:11.610 --> 0:14:13.770 a break. But let me remind you, we're out of 0:14:13.770 --> 0:14:16.530 the studio today. Our team is not here, so don't 0:14:16.530 --> 0:14:19.130 call in. But much more to come just around the 0:14:19.130 --> 0:14:35.370 corner on faith and finance live. Stick around. Thanks so 0:14:35.370 --> 0:14:37.930 much for joining us today on Faith and Finance Live. 0:14:37.930 --> 0:14:40.560 I'm Rob West, your host. Hey, our team is away 0:14:40.560 --> 0:14:43.560 from the studio today. We're not here, but we've got 0:14:43.560 --> 0:14:46.200 some great questions that we lined up in advance. I 0:14:46.200 --> 0:14:49.880 know you'll enjoy those a little later in our broadcast. Folks, 0:14:49.880 --> 0:14:53.440 have you checked out recently? Our website at giphy.com. If not, 0:14:53.480 --> 0:14:55.960 I'd encourage you to do that. You'll find our community 0:14:55.960 --> 0:14:59.000 there where you can post questions and comments, hear from 0:14:59.000 --> 0:15:01.920 others that are on the stewardship journey as well. You 0:15:01.920 --> 0:15:04.720 can also access our content and check out the Faith 0:15:04.720 --> 0:15:07.840 fi app. It's at Faith Philly.com. Hey, before we get 0:15:07.840 --> 0:15:09.560 back to our calls, I want to take a moment 0:15:09.560 --> 0:15:12.600 to look at the meaning behind this word steward that 0:15:12.600 --> 0:15:15.600 we see so often in Scripture. The Greek word for 0:15:15.600 --> 0:15:19.040 steward that we find in the New Testament is oikonomos. 0:15:19.040 --> 0:15:23.080 It means household manager. So just as a household manager 0:15:23.120 --> 0:15:26.480 oversees a home on behalf of the owner, we manage 0:15:26.480 --> 0:15:30.760 God's resources. That's a profound understanding because it means we 0:15:30.760 --> 0:15:35.120 own nothing, but we are responsible for everything under our care. 0:15:35.240 --> 0:15:39.040 Now this of course, extends beyond finances our time, our talents, 0:15:39.040 --> 0:15:44.160 our relationships, even truth. Everything we have is God's and 0:15:44.160 --> 0:15:47.320 we have to manage it wisely. Our goal to bring 0:15:47.320 --> 0:15:51.000 him honor and glory. But what are the implications of 0:15:51.000 --> 0:15:54.520 accepting our role as steward with God as owner? Well, 0:15:54.840 --> 0:15:58.160 here's a few of them that we'll unpack throughout today's broadcast. 0:15:58.200 --> 0:16:03.120 Number one, as stewards have responsibilities, not rights. You see, 0:16:03.160 --> 0:16:06.720 as stewards, we manage God's resources according to his will, 0:16:06.920 --> 0:16:10.400 not our own desires. We don't have ownership rights over 0:16:10.400 --> 0:16:15.240 what we manage. We're responsible for using it faithfully. This 0:16:15.240 --> 0:16:19.320 means making decisions based on what pleases God, not what 0:16:19.360 --> 0:16:22.280 benefits us personally. Now, don't get me wrong, money is 0:16:22.280 --> 0:16:25.240 one of God's good creations, and part of what we 0:16:25.240 --> 0:16:28.320 see in First Timothy is that we're to enjoy what 0:16:28.360 --> 0:16:31.840 God has given us. He gave us creation. We're to 0:16:31.880 --> 0:16:35.400 be workers, to improve it. We're to take, uh, money, 0:16:35.400 --> 0:16:38.030 a gift from God, a means of exchange and use 0:16:38.030 --> 0:16:41.070 it to further God's kingdom, but also to enjoy and 0:16:41.070 --> 0:16:45.310 to benefit our relationships and use it in a way 0:16:45.310 --> 0:16:49.350 that honors him. Um, even giving it away. And so 0:16:49.350 --> 0:16:51.950 it doesn't mean that we can't enjoy it. It just 0:16:51.950 --> 0:16:55.030 means that we seek the wisdom of the master as 0:16:55.030 --> 0:17:00.229 the steward, as we're making decisions. Another implication stewards are accountable. 0:17:00.230 --> 0:17:03.550 Romans 1412 tells us that each of us will give 0:17:03.550 --> 0:17:06.469 an account to God for how we manage his resources. 0:17:06.470 --> 0:17:08.670 Did we use them to advance his kingdom and care 0:17:08.670 --> 0:17:11.550 for others and reflect his character, or did we waste 0:17:11.550 --> 0:17:15.630 them on selfish pursuits? Here's one more. Stewards live with 0:17:15.630 --> 0:17:19.830 an eternal perspective. Instead of focusing on temporal wealth, stewards 0:17:19.830 --> 0:17:24.790 invest in things that have eternal significance. Listen to Jesus 0:17:24.790 --> 0:17:29.189 words in Matthew 619 to 21, where he says, lay 0:17:29.190 --> 0:17:33.630 up for yourselves treasures in heaven. Earthly wealth is fleeting, 0:17:33.630 --> 0:17:37.700 but how we use it can absolutely have an eternal impact. 0:17:37.740 --> 0:17:41.739 My friend Randy Alcorn writes in his incredible book, The 0:17:41.780 --> 0:17:45.180 Treasure Principle. He says, and I quote, you can't take 0:17:45.180 --> 0:17:48.219 it with you, but you can send it on ahead. 0:17:48.580 --> 0:17:51.859 More of those implications of stewardship in just a bit, 0:17:51.859 --> 0:17:54.740 but something to think about today as we accept our 0:17:54.780 --> 0:17:58.179 really high calling of being a money manager for the 0:17:58.180 --> 0:18:00.700 King of Kings. All right, let's get back to the phones. 0:18:00.820 --> 0:18:03.020 Let's go to Alabama. Hi, Jerry. Go ahead. Sir. 0:18:03.580 --> 0:18:04.100 I've been a. 0:18:04.100 --> 0:18:06.620 Student of Barry Beckett forever. 0:18:06.780 --> 0:18:08.260 Ah. Very good. 0:18:08.300 --> 0:18:11.300 Got a great problem. I have a question I'm not 0:18:11.300 --> 0:18:14.619 sure about. My wife and I thought about buying a 0:18:14.619 --> 0:18:17.420 piece of property. We have a lake house, and there's 0:18:17.420 --> 0:18:19.820 a piece of property beside us. The older gentleman kind 0:18:19.859 --> 0:18:22.220 of let it grow up and go down. And he's 0:18:22.220 --> 0:18:25.580 76 years old, but he's still living there. So is 0:18:25.580 --> 0:18:27.820 it a wise thing to make him an offer and 0:18:27.820 --> 0:18:30.620 to buy that property, like in a life estate where 0:18:30.619 --> 0:18:32.860 he could live there until he dies? And I'm just 0:18:32.859 --> 0:18:34.810 curious about the pros and cons. 0:18:35.210 --> 0:18:38.490 Mhm. Uh, you know, it could be um, what is 0:18:38.490 --> 0:18:41.130 your goal. So you would buy it to be able 0:18:41.130 --> 0:18:43.570 to have it as a property you would use in 0:18:43.570 --> 0:18:47.450 the future. Um, are you thinking about its use prior 0:18:47.450 --> 0:18:48.609 to his passing? 0:18:49.050 --> 0:18:51.930 Well, prior to his passing, it'd be his totally delivered. 0:18:51.930 --> 0:18:54.570 And enjoy. We won't touch or do anything. If he passed, 0:18:54.570 --> 0:18:57.930 we'd like to own it beside of ours. And an improvement. 0:18:57.970 --> 0:18:59.290 Like an investment. 0:18:59.450 --> 0:19:02.010 Okay. And then, are you planning on moving in at 0:19:02.010 --> 0:19:03.810 at some point, or would it be a second property 0:19:03.810 --> 0:19:04.369 for you? 0:19:04.810 --> 0:19:07.290 It'd be a third or fourth property for us. 0:19:07.450 --> 0:19:09.570 Got it. And so is it more of an investment 0:19:09.570 --> 0:19:12.050 for you or is it, uh, you know, something you'd 0:19:12.050 --> 0:19:17.370 use more of? Okay. Okay. Got it. Um. And is he, uh, 0:19:17.369 --> 0:19:20.890 needing to cash out right now or what is his status? 0:19:21.690 --> 0:19:24.290 I'm not sure. I hadn't approached him with the value 0:19:24.290 --> 0:19:27.530 yet because I wasn't sure exactly how much to offer. 0:19:27.570 --> 0:19:29.570 I guess if I wasn't sure if the property is 0:19:29.570 --> 0:19:34.050 worth 250, should I offer him Frame 125. Because, you know, 0:19:34.090 --> 0:19:36.129 I don't know if he'll be in there five minutes 0:19:36.130 --> 0:19:40.170 or 15 years, you know, and if there's a life estate. 0:19:40.170 --> 0:19:42.450 I'm curious too. If he lived 3 or 4 years, 0:19:42.450 --> 0:19:44.250 then had to go in a nursing home, could they 0:19:44.250 --> 0:19:48.010 come back and reclaim the property? I wasn't sure exactly 0:19:48.010 --> 0:19:49.010 how that works. 0:19:49.050 --> 0:19:52.250 Yeah. Very good. Um, so a couple of things. Yeah. 0:19:52.250 --> 0:19:55.810 I think, you know, the benefits are a potential discount. Now, 0:19:55.810 --> 0:19:58.010 you want to you want to do the right thing and, 0:19:58.050 --> 0:20:01.369 you know, not undercut him. Uh, you know, in a 0:20:01.369 --> 0:20:03.770 way that is not appropriate. But I think, you know, 0:20:03.810 --> 0:20:07.409 often a buyer will allow a seller to retain a 0:20:07.410 --> 0:20:11.689 life estate, and the purchase price is reduced as a 0:20:12.130 --> 0:20:15.330 part of the process because, you know, they're the seller 0:20:15.330 --> 0:20:18.250 is motivated to sell because they still retain the right 0:20:18.250 --> 0:20:21.050 to live on the property. And in exchange for that, 0:20:21.050 --> 0:20:23.810 often lower the selling price. I wouldn't typically see it 0:20:23.810 --> 0:20:29.330 that dramatic, you know, by 50%, but certainly some acknowledgement, um, 0:20:29.330 --> 0:20:34.399 you know, the obviously there's no immediate property management responsibilities 0:20:34.400 --> 0:20:38.600 on your part because the seller remains responsible for maintaining 0:20:38.600 --> 0:20:41.840 the property. And then there's an estate planning advantage for 0:20:41.840 --> 0:20:44.320 the seller because, you know, it allows them to stay 0:20:44.320 --> 0:20:46.920 in the home, retain some of the rights, and that 0:20:46.920 --> 0:20:51.600 can assist with Medicaid planning or even avoiding probate. So, 0:20:51.800 --> 0:20:54.359 you know, that's helpful. I think, you know, the downsides 0:20:54.359 --> 0:20:57.040 of giving the life estate to the seller is just 0:20:57.040 --> 0:20:59.959 the uncertainty of the timing. And you acknowledge that it 0:21:00.000 --> 0:21:02.840 you know, when you will gain full access to the property, 0:21:03.119 --> 0:21:06.160 who knows? It could extend for many years in terms of, 0:21:06.359 --> 0:21:09.679 you know, being able to take possession, you've got limited 0:21:09.680 --> 0:21:13.240 control over the property. Um, and so you can't sell it, 0:21:13.240 --> 0:21:16.240 renovate it, rent it out. Uh, you've obviously got market 0:21:16.240 --> 0:21:21.080 value risk because market conditions may, you know, may change. Uh, 0:21:21.080 --> 0:21:24.600 there's of course the maintenance and repairs. And then I 0:21:24.600 --> 0:21:27.840 think to your point, um, you know, there is the, 0:21:28.000 --> 0:21:30.830 the legal consideration. So it would be really important to 0:21:30.830 --> 0:21:34.389 work with a real estate attorney to ensure the terms 0:21:34.430 --> 0:21:39.270 are clearly outlined, including the responsibilities for taxes and maintenance. 0:21:39.270 --> 0:21:42.230 So I'm on board with this. I would check with 0:21:42.310 --> 0:21:45.310 an estate planning attorney, though, just to make sure you 0:21:45.310 --> 0:22:05.909 understand the implications with. Great to have you with us 0:22:05.910 --> 0:22:08.590 today on faith and finance live. By the way, we're 0:22:08.590 --> 0:22:11.110 not live today. We're away from the studio, so don't 0:22:11.109 --> 0:22:13.910 call in. But we have some great questions that we 0:22:13.910 --> 0:22:17.510 lined up in advance. By the way, this ministry is 0:22:17.510 --> 0:22:21.550 entirely listener supported. That means we rely on your financial 0:22:21.550 --> 0:22:24.070 gifts and support to do what we do on the 0:22:24.070 --> 0:22:26.669 air every day. If you consider a gift, we'd certainly 0:22:26.670 --> 0:22:30.540 be grateful. Just head to our website. Faith. Com that's faith. 0:22:31.260 --> 0:22:34.619 Dot com and click the give button. Thanks in advance. Uh, 0:22:34.660 --> 0:22:37.500 let's see here. Uh, before we go back to the phones, 0:22:37.540 --> 0:22:41.100 I'm sharing just a moment ago that there are real 0:22:41.100 --> 0:22:46.420 implications to understanding our role as stewards of God's resources. 0:22:46.460 --> 0:22:49.220 You know, when we accept that role as steward, uh, 0:22:49.220 --> 0:22:53.419 it changes everything about how we view and handle God's money. 0:22:53.660 --> 0:22:57.699 I mentioned that, uh, stewards have responsibilities. Not right. Stewards 0:22:57.700 --> 0:23:02.260 are accountable. Stewards live with an eternal perspective. They're also 0:23:02.260 --> 0:23:07.060 faithful in small things. Jesus teaches in Luke 1610, one 0:23:07.060 --> 0:23:10.260 who is faithful in a very little, is also faithful 0:23:10.260 --> 0:23:12.980 in much, and one who is dishonest in a very 0:23:12.980 --> 0:23:17.500 little is also dishonest in much. Faithful stewards manage even 0:23:17.500 --> 0:23:21.379 the smallest resources with care, knowing that God sees and 0:23:21.380 --> 0:23:26.939 rewards our faithfulness. Uh, stewards hold loosely and give generously. 0:23:26.980 --> 0:23:30.570 You see, when we recognize that everything belongs to God, 0:23:30.570 --> 0:23:34.130 it becomes easier to hold our possessions with an open hand. 0:23:34.330 --> 0:23:37.810 We give generously as stewards, knowing that what we offer 0:23:37.810 --> 0:23:41.050 is already God's in the first place, and in doing so, 0:23:41.090 --> 0:23:46.090 we reflect his generosity and trust him to provide for 0:23:46.090 --> 0:23:50.210 our needs, keeping in mind that ultimately, he's the ultimate 0:23:50.210 --> 0:23:53.410 giver and we're created in his image. We're image bearers 0:23:53.410 --> 0:23:56.010 of God himself. I like to think we're most like 0:23:56.010 --> 0:23:59.929 him when we're giving. Finally, stewards don't take credit. What 0:23:59.930 --> 0:24:01.649 do I mean by that? Well, I would take you 0:24:01.650 --> 0:24:04.330 to Luke 12. Jesus tells the parable. You know it 0:24:04.330 --> 0:24:07.890 well of a man who hoards wealth, focusing on his 0:24:07.890 --> 0:24:11.210 possessions instead of being what it says in the parable 0:24:11.210 --> 0:24:15.490 rich toward God. The man takes full credit for his success, 0:24:15.650 --> 0:24:19.210 failing to acknowledge God's provision. You hear him using words 0:24:19.210 --> 0:24:23.490 like I and my repeatedly as he talks about what 0:24:23.490 --> 0:24:27.770 he's done to generate this prosperity. Well, in contrast, good 0:24:27.810 --> 0:24:31.330 stewards recognize that everything we have comes from God, and 0:24:31.330 --> 0:24:34.850 we give him credit for any success. Even the power 0:24:34.850 --> 0:24:38.050 to create wealth comes from him. And so think about 0:24:38.050 --> 0:24:40.609 that today as you accept your role as steward. Let's 0:24:40.609 --> 0:24:44.490 move from giving head knowledge and consent to this idea 0:24:44.490 --> 0:24:46.729 of God owning it all. And let's allow that to 0:24:46.770 --> 0:24:51.250 translate into how we actually make decisions and manage God's 0:24:51.250 --> 0:24:54.010 money on a daily basis. All right, back to the 0:24:54.010 --> 0:24:56.650 phones we go. Let's go to Texas. Hi, Wayne. Thanks 0:24:56.650 --> 0:24:57.850 for your patience. Go ahead. 0:24:58.570 --> 0:25:02.410 Uh. Thank you. Uh, I was calling my wife will 0:25:02.410 --> 0:25:07.010 be 62, uh, in August. She's 61, obviously. And, uh, 0:25:07.010 --> 0:25:09.169 I was thinking about. We were thinking about her taking 0:25:09.170 --> 0:25:13.210 her Social security. She's retired. Uh, but we still file jointly. 0:25:13.210 --> 0:25:16.770 I didn't know if it would be taxed since I 0:25:16.770 --> 0:25:17.530 still work. 0:25:18.450 --> 0:25:22.050 Yeah, it certainly, uh, can be. And it's going to 0:25:22.050 --> 0:25:25.040 have to do with, uh, the amount of income that 0:25:25.040 --> 0:25:27.959 you earn. So let's start with just her taking the 0:25:27.960 --> 0:25:31.000 benefits early. So she would be taking these based on 0:25:31.000 --> 0:25:34.960 her own work record. And then she you recognize that 0:25:34.960 --> 0:25:39.520 she'd get about a, somewhere around a 30% reduction in 0:25:39.560 --> 0:25:41.600 that benefit by taking it early. 0:25:42.680 --> 0:25:43.400 Right. 0:25:43.440 --> 0:25:43.680 Okay. 0:25:43.720 --> 0:25:46.080 As opposed to being 67 I think 67 is her 0:25:46.080 --> 0:25:46.920 full retirement. 0:25:46.960 --> 0:25:49.480 Yeah, exactly. Okay. So you just need to think through 0:25:49.480 --> 0:25:52.120 that and and make sure that that makes sense to 0:25:52.160 --> 0:25:57.080 lock in that reduced benefit. Now in terms of the taxation, uh, 0:25:57.240 --> 0:26:00.920 basically the taxability of those benefits, if you will, depends 0:26:00.920 --> 0:26:04.200 on what's called your combined income. So when you combine 0:26:04.200 --> 0:26:08.280 all of your income, if that's between 32,000 and 44,000, 0:26:08.320 --> 0:26:12.560 then up to 50% of the benefits may be taxable. 0:26:12.560 --> 0:26:15.760 If your combined income, and I suspect it would putting 0:26:15.760 --> 0:26:20.360 it all together exceeds 44,000, then that's going to be 0:26:20.359 --> 0:26:25.230 up to 85% of the benefits may be taxable. Um, 0:26:25.230 --> 0:26:29.510 so you would likely, you know, be paying tax on 85% 0:26:29.670 --> 0:26:32.230 of those benefits that she's taking. 0:26:33.070 --> 0:26:35.830 Would that also be if she waited till full retirement? 0:26:35.869 --> 0:26:37.430 It would be the same thing. Right? 0:26:37.470 --> 0:26:38.630 That's exactly right. 0:26:39.109 --> 0:26:41.310 If I'm still working. So because I was under the 0:26:41.310 --> 0:26:43.910 impression that it was not taxed if she doesn't work. 0:26:43.910 --> 0:26:44.990 But that's not true. 0:26:45.310 --> 0:26:48.670 That's not true. No. It really has to do with, um, 0:26:48.710 --> 0:26:51.950 your combined income. Okay. And when you look at. And 0:26:51.950 --> 0:26:56.070 that does include your Social Security benefits in that calculation 0:26:56.070 --> 0:26:56.630 as well. 0:26:57.670 --> 0:26:59.149 Very good. Well thank you. 0:26:59.310 --> 0:27:01.790 All right. Thanks for your call today. And by the way, 0:27:01.790 --> 0:27:04.470 it's up to 50% of those benefits that would be 0:27:04.470 --> 0:27:07.590 factored into that combined income number. So yeah take a 0:27:07.590 --> 0:27:09.430 look at that and just make sure you plan ahead 0:27:09.430 --> 0:27:12.550 for that. Because that could obviously reduce what you're expecting 0:27:12.550 --> 0:27:14.949 to have come in on a on a monthly basis. 0:27:15.030 --> 0:27:16.990 Thanks for your call today. You know, as we were 0:27:16.990 --> 0:27:21.510 talking a moment ago, just about the implications of stewardship, uh, 0:27:21.540 --> 0:27:24.660 it does cause us to want to step back and 0:27:24.660 --> 0:27:28.900 think that if every spending decision is ultimately a spiritual 0:27:28.900 --> 0:27:33.540 decision because I'm managing God's money, what does that mean 0:27:33.540 --> 0:27:37.460 for my daily, uh, you know, allocation? What does that 0:27:37.460 --> 0:27:41.380 mean for my budget? Because here's the reality. Ultimately, what 0:27:41.380 --> 0:27:44.700 you spend God's money on is the most accurate reflection, 0:27:44.700 --> 0:27:48.020 in my view, of what you value and ultimately where 0:27:48.020 --> 0:27:51.820 you've placed your trust. And the question is, does that 0:27:51.820 --> 0:27:54.379 really line up with what's most important to me? You know, 0:27:54.420 --> 0:27:56.820 if you were to take your spending plan, maybe it's 0:27:56.820 --> 0:27:59.580 your budget or, uh, you know, you were to take 0:27:59.580 --> 0:28:02.820 a printout of, you know, whatever your primary account is 0:28:02.820 --> 0:28:05.380 that you, you spend out of, and you just take 0:28:05.380 --> 0:28:08.180 a look at those big categories on where you're spending 0:28:08.180 --> 0:28:12.060 God's money. Does that really reflect what is most important 0:28:12.060 --> 0:28:15.580 to you, and if not, what changes are in order? 0:28:15.619 --> 0:28:18.500 I think the other consideration we need to make is, 0:28:18.859 --> 0:28:20.980 you know, does this really line up with our values 0:28:20.980 --> 0:28:23.700 and our priorities? We talk a lot about goals, and 0:28:23.740 --> 0:28:28.180 goals are fine so long as they're originally set by us. 0:28:28.180 --> 0:28:32.859 Prayerfully considering what God's doing in our life and as believers, 0:28:32.859 --> 0:28:35.140 what are our values and how do we let our 0:28:35.140 --> 0:28:39.860 values then inform the goals that we're setting? And then ultimately, 0:28:40.020 --> 0:28:44.420 in a very practical way, those those financial decisions we're 0:28:44.420 --> 0:28:47.460 making on a daily basis, we need to think through that. 0:28:47.460 --> 0:28:49.740 And so often I think we skip past that and 0:28:49.740 --> 0:28:53.340 we just kind of spend without a real plan. And 0:28:53.340 --> 0:28:56.100 ultimately we're not going to end up in the destination 0:28:56.100 --> 0:28:58.140 we want. So give that some thought today as you 0:28:58.140 --> 0:29:00.780 think about your own spending, especially now, where it's more 0:29:00.780 --> 0:29:03.780 challenging than ever. All right, let's head back to the phones. 0:29:03.780 --> 0:29:06.140 We'll go to Louisiana and welcome Mike to the broadcast. 0:29:06.140 --> 0:29:06.860 Go ahead sir. 0:29:07.780 --> 0:29:12.020 Uh, yes, I'm on Social Security disability. And when I 0:29:12.020 --> 0:29:16.500 was in a different state, I had just Medicare. And, uh, 0:29:16.500 --> 0:29:20.690 for a supplement, I had Medicaid and I had like 0:29:20.730 --> 0:29:23.969 two surgeries that I needed and there was no problem 0:29:23.970 --> 0:29:28.410 to get them. And then now that they've, uh, made 0:29:28.410 --> 0:29:32.770 it where regular insurance companies like Humana and all these 0:29:32.770 --> 0:29:39.570 different companies, uh, have a part in the Medicaid or 0:29:40.050 --> 0:29:45.730 Medicare Advantage or whatever. They've denied me a surgery that 0:29:45.730 --> 0:29:48.570 a surgeon said I need for my spine, that really 0:29:48.610 --> 0:29:50.970 my back really hurts. I was wondering if I could 0:29:50.970 --> 0:29:55.210 go just back to regular Medicare and Medicaid as a 0:29:55.210 --> 0:29:59.410 supplement somehow. Because they don't deny, like, these insurance companies, 0:29:59.450 --> 0:30:01.450 you know, they're just they're out to make money. They're 0:30:01.450 --> 0:30:03.490 a business. And they're denying folks. 0:30:03.890 --> 0:30:07.610 Yeah. So you can switch back to original Medicare and 0:30:07.610 --> 0:30:11.410 Medicaid after enrolling in a Medicare Advantage plan. Uh, there 0:30:11.410 --> 0:30:14.690 would be certain conditions and time frames involved in that. 0:30:14.890 --> 0:30:19.040 So there's a Medicare advantage. Disenrollment period where you can 0:30:19.040 --> 0:30:24.120 switch back to original Medicare. During the Medicare annual enrollment period, 0:30:24.120 --> 0:30:27.520 that's between October 15th and December 7th. So that would 0:30:27.520 --> 0:30:30.320 be the time that you would drop your Medicare Advantage 0:30:30.320 --> 0:30:34.280 and re enroll in original Medicare. There's also a Medicare 0:30:34.480 --> 0:30:39.240 open enrollment period. So there's other issues there with regard 0:30:39.240 --> 0:30:44.280 to Medicaid eligibility and guaranteed issues. So I think your 0:30:44.280 --> 0:30:47.880 next step is probably to contact Medicare directly at one 0:30:47.920 --> 0:30:51.160 800 Medicare and talk through this with them. And then 0:30:51.160 --> 0:30:54.080 you can start the enrollment process. We'll be right back. 0:31:05.000 --> 0:31:06.840 So glad to have you with us today on Faith 0:31:06.840 --> 0:31:10.160 and Finance Live. Our team is away today, so don't 0:31:10.160 --> 0:31:13.040 call in. But we lined up some great questions in 0:31:13.040 --> 0:31:15.080 advance and we'll be going to those here in just 0:31:15.080 --> 0:31:17.830 a moment. Let me also remind you that the advice 0:31:17.830 --> 0:31:21.070 that I give each day on this program is general 0:31:21.070 --> 0:31:25.390 in nature. We offer principles and ideas that apply at 0:31:25.390 --> 0:31:28.670 a high level. They are not personalized. So that's why 0:31:28.670 --> 0:31:32.470 you should always seek professional financial advice. And if you'd 0:31:32.470 --> 0:31:35.390 like to find a professional who shares your values, we 0:31:35.390 --> 0:31:38.110 of course, here at Faith and Finance Live recommend the 0:31:38.110 --> 0:31:41.750 Certified Kingdom Advisor designation. These are men and women who've 0:31:41.750 --> 0:31:44.830 met high standards, and they've been trained to bring a 0:31:44.830 --> 0:31:47.670 biblical worldview of financial decision making. You can find one 0:31:47.670 --> 0:31:50.470 at Faith. Com now let's head to the phone calls 0:31:50.470 --> 0:31:54.030 we have lined up in Alabama. Matthew. Go ahead. 0:31:54.830 --> 0:31:58.590 Yeah, I've got a question. Uh, I know what the 0:31:58.590 --> 0:32:02.390 Bible says about our finances. Of course we need more 0:32:02.390 --> 0:32:06.510 and more, but I have a question about the, um, 0:32:06.630 --> 0:32:10.510 the church, the, um, the finances of the church. Um, 0:32:10.710 --> 0:32:14.190 do we preach law or do we preach, um, grace? 0:32:14.190 --> 0:32:17.670 So I can't find the word tithing in the New 0:32:17.670 --> 0:32:21.550 Testament or in the Gospels. And I'm wondering, can we 0:32:21.550 --> 0:32:25.950 mix law with grace? What what does the what is 0:32:25.950 --> 0:32:29.910 the real teaching of the apostles? Can you help me 0:32:29.910 --> 0:32:30.469 with that? 0:32:30.630 --> 0:32:32.470 Yeah, I'd be delighted to. I mean, you will see 0:32:32.510 --> 0:32:35.550 reference to the tithe in the New Testament. Jesus mentions 0:32:35.550 --> 0:32:38.190 the tithe. But, uh, you, uh, to the first part 0:32:38.190 --> 0:32:41.469 of your question, uh, we are absolutely no longer under 0:32:41.470 --> 0:32:43.910 the Law of Moses. We're under the law of Christ. 0:32:43.910 --> 0:32:47.950 And so we don't give out of obligation because of 0:32:47.950 --> 0:32:49.750 the law of Moses. I think we have to look 0:32:49.750 --> 0:32:53.510 to the whole counsel of Scripture, and certainly that includes 0:32:53.510 --> 0:32:56.910 the New Testament to say, what should our posture be 0:32:56.910 --> 0:33:00.910 toward giving at this point as believers on this side 0:33:00.910 --> 0:33:03.990 of the cross? And I think the the big idea 0:33:04.030 --> 0:33:08.590 there is to recognize that Jesus raises the bar in 0:33:08.590 --> 0:33:11.390 every case. And I think that includes our giving. I mean, 0:33:11.430 --> 0:33:15.740 the the model we see of giving is around to 0:33:15.780 --> 0:33:18.500 whom much is given, much is required. You know, we 0:33:18.500 --> 0:33:21.460 talked about the the widow's mite. You know, the most 0:33:21.460 --> 0:33:23.540 famous giver in the Bible. We don't know her name, 0:33:23.540 --> 0:33:25.820 but we know she gave out of her poverty. And 0:33:25.860 --> 0:33:29.980 Jesus celebrated her heart posture in her giving. And she 0:33:29.980 --> 0:33:32.700 gave sacrificially. So I think that should be a a 0:33:32.820 --> 0:33:36.940 hallmark of our giving, where to give proportionately to what 0:33:36.980 --> 0:33:41.420 God has entrusted to us. But we do. We give cheerfully, 0:33:41.460 --> 0:33:44.459 not out of, not under compulsion. That's clear in the 0:33:44.460 --> 0:33:46.980 New Testament. And so I don't think we need to 0:33:46.980 --> 0:33:50.500 take a legalistic approach to it. And yet I think 0:33:50.500 --> 0:33:54.580 this idea of systematic giving, starting with the local church, 0:33:54.580 --> 0:33:58.540 based on our increase using the tithe, as I'll call it, 0:33:58.540 --> 0:34:02.940 a guideline, is a very appropriate beginning place for our giving. 0:34:02.940 --> 0:34:05.140 I don't think it's the end though. I think we 0:34:05.140 --> 0:34:08.540 start there and then we go beyond that, because those 0:34:08.540 --> 0:34:10.859 of us who have seen the cross and know what 0:34:10.900 --> 0:34:14.049 Jesus did on our behalf. I think we can give 0:34:14.090 --> 0:34:16.890 as an act of worship, as an overflow of our 0:34:16.890 --> 0:34:20.370 gratitude to God, knowing that the very power to create 0:34:20.370 --> 0:34:23.170 wealth comes from God Himself. That money is one of 0:34:23.170 --> 0:34:27.090 his good creations that he entrusted to us, that he's 0:34:27.090 --> 0:34:30.129 our provider. But the act of giving is how we 0:34:30.170 --> 0:34:33.569 hold it loosely. We demonstrate our trust in him as 0:34:33.570 --> 0:34:37.530 our provider, and it's our way to be hardwired into 0:34:37.570 --> 0:34:42.730 God's activity by our generosity, participating with where he is 0:34:42.730 --> 0:34:46.130 at work and God's plan A is the local church. 0:34:46.130 --> 0:34:49.969 It's not that the the local church is has a 0:34:49.969 --> 0:34:53.770 mission to reach people for Christ. The local church is 0:34:53.810 --> 0:34:58.489 God's strategy to fulfill his mission and calling on the earth. 0:34:58.489 --> 0:35:01.050 And I think, you know, our support. There should be 0:35:01.250 --> 0:35:04.210 a beginning place, but I think we've got to find 0:35:04.210 --> 0:35:08.690 that that giving approach that is an overflow of gratitude 0:35:08.690 --> 0:35:12.520 to God and not legalistic where we're checking a box, 0:35:12.520 --> 0:35:13.600 if that makes sense. 0:35:13.960 --> 0:35:16.760 When we preach tithes, aren't we preaching legalism? 0:35:17.360 --> 0:35:19.719 Uh, it depends on the heart posture, I think. You know, 0:35:19.760 --> 0:35:22.200 you will find many churches that that preach the tithe 0:35:22.200 --> 0:35:24.239 as a beginning point. And I think, you know, we 0:35:24.239 --> 0:35:26.600 can look to Scripture and see that again. It is 0:35:26.600 --> 0:35:31.480 referenced in the New Testament. It actually, with Melchizedek, preceded 0:35:31.480 --> 0:35:34.399 the law of Moses. So I think it's very appropriate 0:35:34.400 --> 0:35:39.160 to talk about a systematic gift starting with the local church. 0:35:39.280 --> 0:35:42.120 And I think that tithe is a great guideline. My 0:35:42.120 --> 0:35:45.960 friend and author, Randy Alcorn calls the tithe the training 0:35:45.960 --> 0:35:48.680 wheels of giving. So again, I think as long as 0:35:48.680 --> 0:35:52.600 we understand that it's not out of legalism, but instead 0:35:52.600 --> 0:35:56.120 we're doing it as a cheerful giver, not under compulsion. 0:35:56.480 --> 0:35:59.439 I think it's very appropriate when a church says, hey, 0:35:59.440 --> 0:36:02.160 let's start with that systematic gift of the tithe to 0:36:02.200 --> 0:36:06.040 the local church, because we see that modeled throughout the 0:36:06.040 --> 0:36:09.830 whole of Scripture, preceding the law, in the law and 0:36:09.830 --> 0:36:12.870 referenced beyond the Law of Moses under the law of 0:36:12.870 --> 0:36:16.310 Christ by Jesus himself. But again, we have to understand 0:36:16.310 --> 0:36:19.510 why we're doing it. And just like we don't follow 0:36:19.510 --> 0:36:22.590 a lot of the traditions of the Law of Moses 0:36:22.630 --> 0:36:25.670 in other cases, because we're not under that any longer, 0:36:25.670 --> 0:36:28.870 I think the same would apply to the tithe. So ultimately, 0:36:28.870 --> 0:36:30.989 that's between you and the Lord, what you would do 0:36:30.989 --> 0:36:33.430 with your giving. But I would see that as more 0:36:33.430 --> 0:36:35.549 of a starting point than an ending point, if that 0:36:35.550 --> 0:36:37.870 makes sense. Is that helpful at all, Matthew? 0:36:38.430 --> 0:36:41.549 It is, but it isn't. So I'll just, um. I 0:36:41.590 --> 0:36:43.469 guess I'll have to leave it at that, because when 0:36:43.469 --> 0:36:46.870 you talk about Melchizedek, he was a type and shadow 0:36:47.110 --> 0:36:50.469 of the he was literally the lineage of the priesthood. 0:36:50.510 --> 0:36:53.390 So it's only it goes back to the law and 0:36:53.390 --> 0:36:56.109 the priesthood. That's why he gave that to a type 0:36:56.110 --> 0:36:58.950 and shadow of Jesus that, you know, he's paying homage 0:36:58.950 --> 0:37:01.430 to Jesus, who was you know what I'm talking about? 0:37:01.430 --> 0:37:03.069 Because you know what the word I do. Thank you 0:37:03.070 --> 0:37:04.750 very much for your time and patience. 0:37:04.989 --> 0:37:07.509 You're very welcome. And I you know, I think at 0:37:07.630 --> 0:37:10.310 the end of the day, we need to look at 0:37:10.670 --> 0:37:12.910 this being something that we need to have, you know, 0:37:12.950 --> 0:37:15.870 take up between us and the Lord. And I think, 0:37:15.910 --> 0:37:18.469 you know, you make a very clear point here that 0:37:18.469 --> 0:37:21.390 we're no longer under the law. In fact, the Old 0:37:21.430 --> 0:37:26.190 Testament giving laws went far beyond 10%. Uh, you know, 0:37:26.230 --> 0:37:28.750 when we look at it was probably about 23 and 0:37:28.750 --> 0:37:31.109 a third percent when you put all of the the 0:37:31.150 --> 0:37:35.190 tithes together. Uh, there was the, the one for the Levites. 0:37:35.190 --> 0:37:37.029 There was the one for the temple and then the 0:37:37.030 --> 0:37:39.830 one for the poor, which was every three years. So 0:37:40.030 --> 0:37:42.350 you put that together? That'd be 23 and a third 0:37:42.350 --> 0:37:45.750 percent a year. Uh, but again, I would go back 0:37:45.750 --> 0:37:49.350 to this idea that when Jesus enters the scene, he 0:37:49.350 --> 0:37:52.350 takes giving to a higher level. I would say he 0:37:52.350 --> 0:37:54.870 showed a different way of giving. I'll call it whole 0:37:54.910 --> 0:37:58.670 life generosity. He modeled that by giving his life as 0:37:58.670 --> 0:38:02.910 a sacrifice. So when he talked about money, he taught 0:38:03.270 --> 0:38:05.390 that we should give as we've been blessed. In Luke 0:38:05.500 --> 0:38:08.820 638 he said, to whom much is given, much is required. 0:38:08.820 --> 0:38:12.060 In Luke 1248 I mentioned a moment ago, he commended 0:38:12.060 --> 0:38:15.060 the poor widow who gave her last two copper coins. 0:38:15.060 --> 0:38:17.259 He challenged the rich young ruler to give away all 0:38:17.300 --> 0:38:20.420 of his wealth. So I understand why there might be 0:38:20.420 --> 0:38:23.700 confusion around the tithe, and that's why I think it 0:38:23.700 --> 0:38:28.020 always comes back to what is giving that God honors. Uh, 0:38:28.020 --> 0:38:31.779 I think it's giving. That's cheerful. It's giving that's free. 0:38:32.100 --> 0:38:36.460 Not under compulsion. It's giving. That's sacrificial. It's giving that's 0:38:36.460 --> 0:38:41.379 proportionate and systematic. But within those guidelines, I think we 0:38:41.380 --> 0:38:44.620 have to decide what is the right amount for us. 0:38:44.860 --> 0:38:47.940 And again, it's not about a law. It's about us 0:38:47.940 --> 0:38:50.460 coming between the father and saying, God, what would you 0:38:50.460 --> 0:38:54.020 have me to do? And I would think anything less 0:38:54.020 --> 0:38:56.940 than a tithe would be missing the heart of God, 0:38:56.940 --> 0:38:59.900 at least the way I read the counsel of Scripture. 0:38:59.900 --> 0:39:02.700 So anyway, that's some thoughts for you, Matthew. I appreciate 0:39:02.700 --> 0:39:04.690 you raising the question. It's a it's a it's a 0:39:04.690 --> 0:39:07.410 very appropriate question. And I think one that's at the 0:39:07.410 --> 0:39:09.690 the center of what we do here on this broadcast 0:39:09.690 --> 0:39:13.490 every day, because my heart's desire is that we would 0:39:13.489 --> 0:39:16.330 see this role we have as stewards of God's money, 0:39:16.330 --> 0:39:20.089 as an incredibly high calling that our goal is faithfulness 0:39:20.090 --> 0:39:23.450 to opportunity, which means what have you done with what 0:39:23.450 --> 0:39:26.930 you've been given? And we've been given so much before 0:39:26.930 --> 0:39:30.290 the first dollar. We have an abundance because of our 0:39:30.290 --> 0:39:34.649 position in Christ, because we find our identity in Christ. 0:39:34.930 --> 0:39:38.370 We're then blessed with an abundance, and that's what our 0:39:38.370 --> 0:39:40.649 heart longs for. But the moment we try to put 0:39:40.650 --> 0:39:43.730 that in money, well, we're going to be left disappointed. 0:39:43.730 --> 0:39:46.210 So we see money as a tool. God is our 0:39:46.210 --> 0:39:49.690 ultimate treasure. And then we give as an overflow of 0:39:49.690 --> 0:39:53.450 worship and devotion to him. Take that, think it through, 0:39:53.489 --> 0:39:56.370 pray about it, and thanks for your call today. Let's 0:39:56.370 --> 0:39:58.410 go to Tennessee. Hi, Amy. Go ahead. 0:39:58.850 --> 0:40:02.969 Hi. I just have a quick question. So, um, I'm 0:40:03.120 --> 0:40:06.040 kind of trying to figure out right now, you know, 0:40:06.080 --> 0:40:11.839 my budget, and, um, I am contributing to a 401 K, 0:40:12.000 --> 0:40:14.839 but I was wondering whether I could, if I should 0:40:14.840 --> 0:40:19.840 just stop contributing to a 401 K and instead have 0:40:19.840 --> 0:40:23.720 just six months of emergency savings saved up first before 0:40:23.719 --> 0:40:24.560 I do that? 0:40:24.600 --> 0:40:27.759 Yeah, it's a great question, Amy. Um, so how much 0:40:27.760 --> 0:40:29.920 do you have in your emergency fund right now? How 0:40:29.920 --> 0:40:30.680 many months? 0:40:31.960 --> 0:40:36.400 Um, not even too much, but close to two months 0:40:36.400 --> 0:40:36.799 right now. 0:40:36.840 --> 0:40:39.760 Okay, good. Yeah. That's great. And you're not putting anything 0:40:39.760 --> 0:40:41.279 in the 401 K currently? 0:40:42.040 --> 0:40:45.200 I am, I'm putting 15% right now. 0:40:45.239 --> 0:40:45.719 Oh, wow. 0:40:45.719 --> 0:40:49.279 That's tremendous. Uh, and so are you getting any matching? 0:40:50.360 --> 0:40:54.800 Yeah, I am. I'm getting, like, 5%, so. 0:40:55.080 --> 0:40:55.560 Okay. 0:40:55.600 --> 0:40:57.879 But what what I'm hearing is, though, that because you're 0:40:57.880 --> 0:41:01.759 doing the 15%, you're not having anything left over, so 0:41:01.920 --> 0:41:04.640 you're not able to add to the emergency fund anymore? 0:41:04.680 --> 0:41:05.360 Is that right? 0:41:06.560 --> 0:41:12.440 Um, yes and no. It's very tight right now, but 0:41:12.440 --> 0:41:15.040 the good thing is that I am debt free. Um, 0:41:15.040 --> 0:41:19.160 because I paid off my student loan last year, so. Hallelujah. 0:41:19.160 --> 0:41:20.120 Thank the Lord. 0:41:20.400 --> 0:41:20.839 That's right. 0:41:21.040 --> 0:41:23.280 For helping me through that. Um. 0:41:24.200 --> 0:41:25.040 Well, here's where I. 0:41:25.040 --> 0:41:28.080 Would go from here. I think it's great. I would 0:41:28.120 --> 0:41:33.719 absolutely take full advantage of the matching, but beyond the matching. Now, 0:41:33.719 --> 0:41:36.759 if you can dial back other spending so that you 0:41:36.760 --> 0:41:40.799 can contribute a meaningful amount to your, your savings. So 0:41:40.800 --> 0:41:44.680 you're continuing to head towards six months expenses. That would 0:41:44.680 --> 0:41:47.200 be great. I'd rather you pull it from other places 0:41:47.200 --> 0:41:49.400 than the 401 K if you can find it. You know, 0:41:49.440 --> 0:41:52.600 maybe there's a subscription you could cancel, or maybe you 0:41:52.600 --> 0:41:54.520 you don't eat out quite as much. I mean, whatever 0:41:54.520 --> 0:41:58.000 it is. But if truly the the thing that's preventing 0:41:58.000 --> 0:42:01.790 you from really getting your emergency fund up to six 0:42:01.790 --> 0:42:04.589 months in a relatively short period of time is the 0:42:04.590 --> 0:42:08.870 401 K contributions. I would say dial that back so 0:42:08.870 --> 0:42:11.430 that you're still getting the full match, but you're not 0:42:11.430 --> 0:42:14.750 quite doing the 15%. And then when you get up 0:42:14.750 --> 0:42:18.190 above three months expenses or perhaps close to six months, 0:42:18.190 --> 0:42:21.109 then maybe you turn that back on. But, you know, 0:42:21.150 --> 0:42:24.589 I'd rather you have a fully funded emergency fund at 0:42:24.590 --> 0:42:26.990 this point in your life than I would you putting 0:42:26.989 --> 0:42:30.710 the full 15% in the in the 401 K, as 0:42:30.710 --> 0:42:32.950 long as you're still getting the matching portion. Does that 0:42:32.950 --> 0:42:33.510 make sense? 0:42:34.150 --> 0:42:39.230 Yes it does. That's very that actually completely just helps me. 0:42:39.230 --> 0:42:42.469 Thank you so much. You're welcome. Amy. Thanks for calling 0:42:42.469 --> 0:42:45.029 and for being such a faithful listener. We appreciate it. Well, 0:42:45.030 --> 0:42:47.109 that's going to do it for us today. Faith and 0:42:47.110 --> 0:42:50.430 finance live as a partnership between Moody Radio and Faith Fi. 0:42:50.469 --> 0:42:53.910 Thank you to my amazing broadcast team. I couldn't do 0:42:53.910 --> 0:42:55.790 this without him. I hope you have a great rest 0:42:55.790 --> 0:42:57.950 of your day and we'll see you next time on 0:42:57.950 --> 0:42:59.430 Faith and Finance live.