Faith & Finance

You’ve been a careful steward, working hard, saving your money, and spending wisely. Now what?Being able to live comfortably and afford the things you need seems like a worthy goal. Today, we’ll look at having a surplus from a biblical perspective.Celebrating Financial FaithfulnessMaybe we don’t do this enough—speak directly to the faithful listeners who already follow God’s principles in their finances. You’ve been living with integrity and making wise choices with your money for years. Well, we’re talking to you today.First of all, well done. Financial faithfulness is a big deal. It takes sacrifice, commitment, and patience. You’ve paid off debts, worked hard at one or more jobs, invested wisely, and built your savings. More importantly, you understand that everything belongs to God. Your responsibility is to faithfully and humbly care for what He’s provided.As a Christian, you know the future is in God’s hands. Markets rise and fall, and your economic realities may change, but God is always faithful. You also know that following biblical financial principles is the wise thing to do. And now you find yourself with a surplus. What’s next?You might think, “I don’t have a surplus – I’m just getting to where I can keep my head above water financially.” Let me clarify what we mean by a surplus. A surplus is any money God has provided above what you need to live. The late Larry Burkett calls it “prosperity.” He explains that prosperity can be a blessing from God or a trap from Satan, depending on how it is used. The Spiritual Danger of SurplusScripture warns that having a surplus can be more dangerous than having a need. If your surplus leads to a desire for more, it becomes a spiritual trap. 1 Timothy 6:9-10 warns, “Those who desire to be rich fall into temptation, into a snare, into many senseless and harmful desires that plunge people into ruin and destruction.”You might think it’s possible to focus on getting and keeping wealth and be devoted to God at the same time. But Jesus tells us in Matthew 6:24, “No one can serve two masters…You cannot serve God and money.”If it’s dangerous to focus on getting rich and impossible to serve God and money at the same time, what’s the godly alternative? According to Jesus in Luke 12:21, we’re supposed to be “rich toward God.” When you value Jesus most, you place your trust in an eternal and imperishable treasure. God’s abundance offers so much more than worldly riches do—including power for living and peace in your heart.God's Perspective on Financial SurplusesSo, what’s God’s perspective on financial surpluses? In 1 Samuel 16:7, we learn that “…the Lord sees not as man sees: man looks on the outward appearance, but the Lord looks on the heart.”Two things come to mind concerning how we manage a surplus. First, we are to be imitators of Christ. Ephesians 5:1-2 says, “Follow God’s example, therefore, as dearly loved children and walk in the way of love, just as Christ loved us and gave himself up for us as a fragrant offering and sacrifice to God.” How we use our surplus should reflect the God we serve. God is a generous father, faithful and sacrificial in His dealings with us. As a result, we are to be the same toward others.Second, we must be “in the world but not of it” [John 17:11,16] in handling that surplus. In the Sermon on the Mount, Jesus explains that God’s power doesn’t follow worldly priorities. True power is displayed through self-giving love. Through the power of generosity, we can participate in God’s work in the world.Planning for Potential SurplusesWhen God blesses you with a surplus, it’s essential to see it for what it is—a physical blessing with a spiritual purpose. Larry Burkett states, “The important thing is to have a plan for the use of potential surpluses—planning before the money becomes available.”Here’s a final word from 1 Timothy 6:17-19: “As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy. They are to do good, to be rich in good works, to be generous and ready to share, thus storing up treasure for themselves as a good foundation for the future, so that they may take hold of that which is truly life.”Being financially faithful and handling surpluses with a heart aligned with God’s will allows you to experience true abundance—one that transcends worldly riches and brings eternal peace and joy.On Today’s Program, Rob Answers Listener Questions:God has always blessed me, and instead of paying 10%, I pay 11% off of gross. My question is, when I start receiving Social Security, is there a formula? Or to know what part social security has given us that we didn't put in ourselves?I'm a 60-year-old man who retired from the military and still works for them as a contractor. I will collect social security between 66 and 67 when I max out because I am working, so I won't collect it at 62. My question is that I got in trouble with credit cards, so I’m wondering if I should pay that off now with a HELOC or pull it from my 401k. My IRA is no problem because it's a Roth. So they have no taxes, but my 401k is a mandated tax withdrawn 20% for federal 5%. Is there anything I'm not seeing in this conversation that you might be able to see regarding reducing the tax burden I'm about to encounter?My wife is 47, and I am 46 and still working. We have over $100,000 in savings, and we’re looking for good ideas about what to do with the money.I am turning 70 in October this year and have several IRAs. Do I have to cash them all in, or what is the deadline?Resources Mentioned:Rich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Dr. Richard Swenson, author of The Overload Syndrome and Margin, writes that… “We must have some room to breathe. We need freedom to think and permission to heal. Our relationships are being starved to death by velocity.”Too many people are physically, emotionally, mentally, and financially overloaded these days. So, we’ll look at rest from a biblical perspective today.The Concept of MarginIn his writings, Dr. Richard Swenson introduces the concept of "margin"—essentially, it's the space to take a break before you break down. Many of us feel there’s just not enough time, money, or energy left at the end of the day to recuperate, leading us to start the next day at full throttle again. This lifestyle, lacking margin, can have severe physical and financial consequences.Consider sleep, for instance. The Sleep Foundation reports that nearly half of people in the U.S. struggle with sleep, and about one-third of adults sleep less than seven hours each night. Chronic sleep deprivation can lead to expensive health issues like diabetes, anxiety, obesity, and heart disease. Additionally, research from Sleep Advisor indicates that over 2 percent of the U.S. GDP is lost due to workers' lack of proper sleep.Working late nights and weekends might seem necessary if you feel like life is moving too fast. However, burning the candle at both ends is ultimately unproductive. Exhaustion leaves no energy for the most important things—your relationships with others and the Lord.Work and Rest: Finding the Right BalanceWhile God calls us to work for our families, His Kingdom, and the community, He also emphasizes the need for rest. Rest is God’s idea as much as work is. God rested on the seventh day of Creation—not out of tiredness, but because His work was complete. He blessed that rest and called it holy. The Sabbath, enshrined as one of the Ten Commandments, shows how much God values rest. We need time to be with the Lord, reconnect with loved ones, relax, enjoy God’s creation, exercise, breathe deeply, and sleep!Technology enables us to work from anywhere at any time, but that doesn't mean we should. Creating margin in our work means getting enough rest to do our jobs “as unto the Lord” with purpose and energy. Staying late at the office or skipping vacations might make you look diligent, but the stress and broken relationships that follow are too high a price for professional progress.However, it’s important to distinguish between proper rest and laziness. Laziness is choosing not to do what you’re supposed to or doing the bare minimum. This goes against God’s purpose for us, which involves good works. In his first letter to the Thessalonians, Paul advises the church to “…warn those who are idle and disruptive,” implying that inactivity can lead to trouble. The saying “Idle hands are the devil’s workshop” is a testament to this idea.The Dangers of IdlenessIn 1 Timothy 5, Paul highlights other dangers of idleness, such as gossiping and leading others into sin. Idleness, unproductiveness, and laziness open the door to harmful habits. Contrarily, Proverbs 31 praises the “woman of noble character” for her hard work in caring for her family, running her business, training her workers, and providing for the poor. Verse 27 confirms that she “does not eat the bread of idleness.”Laziness can also mean spending too much time on unimportant activities like endless scrolling through Instagram or mindlessly shopping online. At its core, laziness is a failure to take care of responsibilities. Paul provides a stern example in 1 Timothy 5:8, stating, “Anyone who does not provide for their relatives, and especially for their own household, has denied the faith and is worse than an unbeliever.”If laziness tempts you, turn to Jesus in prayer. 1 John 1:9 assures us, “If we confess our sins, he is faithful and just and will forgive us our sins and purify us from all unrighteousness.”Whether your issue is working too hard or hardly working, it’s time to restore the margin in your work and finances. Do your work “as unto the Lord,” as Colossians 3:23 advises. And if you’re feeling overwhelmed, find comfort in Jesus’ words from Matthew 11:28: “Come to me, all you who are weary and burdened, and I will give you rest.”On Today’s Program, Rob Answers Listener Questions:Where should I go to find a Certified Kingdom Advisor to get a referral for a godly estate planning attorney?I paid a capital gains tax a few years ago when I sold some stock. Even though my income from my job was below the limit to be taxed at 0% for long-term capital gains, they taxed me on the full capital gains amount as if that was my adjusted gross income. I want to check with my tax preparer since I thought I should have gotten taxed at 0% based on my income that year.Please give me a simplified explanation of a money market account. My new husband and I are considering putting some retirement money into one.Given all the economic uncertainties, does it make sense for someone in their 70s who is still working, with money in a 401k and savings account, to consider spending that money now on something of value like real estate? I'm concerned about the dollar's devaluation and wanted your perspective on proactively spending the money versus letting it sit in investments and seeing what happens.Resources Mentioned:The Overload Syndrome: Learning to Live Within Your Limits by Dr. Richard SwensonMargin: Restoring Emotional, Physical, Financial, and Time Reserves to Overloaded Lives by Dr. Richard SwensonBankrate.comRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We all want our plans to succeed, but what does the Lord want?Are you and God on the same page regarding your financial plans? Today, we’ll discuss achieving your financial goals and doing God’s will.As avid planners, we know that having a plan is the best way to meet your financial goals—or any goals, for that matter. But how do you ensure your plans align with God’s will for your life? As Christians, we believe that Jesus’ plans are the best, and the Bible supports this in Proverbs 19:21: “Many are the plans in the mind of a man, but it is the purpose of the Lord that will succeed.”Discovering God's PurposeUnderstanding God’s will is crucial because His purpose will always succeed. But how do you discern what God wants? The Bible guides us in Micah 6:8, “And what does the Lord require of you? To act justly and to love mercy and to walk humbly with your God.”Proverbs 3:5-7 advises, “Trust in the Lord with all your heart and lean not on your own understanding; in all your ways submit to him, and he will make your paths straight. Do not be wise in your own eyes; fear the Lord and shun evil.”You might wonder how submitting to God’s ways can help with practical goals like retirement, buying a car, or planning a vacation. While you may not receive a direct message from God about which car to buy, living by biblical standards will give you greater peace and confidence in your decisions. The key is to focus on what has eternal value: “Seek first the Kingdom of God.” By trusting in the Lord, praying, reading His Word, and submitting your plans to Him, you align with His will. This doesn’t guarantee an easy path but ensures a godly one.Seeking Wise CounselSometimes, even when praying for guidance, you need practical advice. Proverbs 15:22 says, “Without counsel, plans fail, but with many advisers, they succeed.”Here are some biblical counsels for saving, debt elimination, and employment:Saving for the FutureWhether saving for college, retirement, or a home purchase requires patience and commitment, so set a target amount and determine how much to save each month. Place your savings in a high-interest account and pray for the discipline to stay on track. Maximize employer-offered savings options or start with a traditional or Roth IRA. For college savings, consider 529 plans.If you’re starting late, don’t worry. The Bible assures us that God will provide for our needs. Remember, God is “YHWH Jireh,” our provider, who cares for us more than the sparrows.Eliminating DebtTo eliminate debt, you need a clear plan. List all your debts and create a strategy to pay them off, starting with one debt at a time. Once one is paid off, apply that payment amount to the next debt. If you need assistance, visit ChristianCreditCounselors.org. Avoid debt consolidation or settlement services. Share your goals with trusted friends or family for encouragement and accountability.“The borrower is servant to the lender” (Proverbs 22:7), so keep your debt-free goal in sight and seek God’s help to break bad habits.Improving EmploymentIf you’re unemployed or underemployed, improving your earning power might require a new job or a promotion. Enhance your skills through training, network regularly, update your resume, and practice interview skills. Your persistence and enthusiasm will make a difference.Focusing first on what has eternal value ensures that God’s purpose will prevail in your financial life. As you plan and make decisions, remember to trust in the Lord, seek His guidance, and rely on wise counsel. By doing so, you align your financial goals with His will, ensuring a path that is both successful and godly.On Today’s Program, Rob Answers Listener Questions:Would a reverse mortgage help my situation? My wife and I are elderly and live on a fixed monthly income of about $2500. Our house is valued at around $160,000, but we still owe $50,000. I would like to use some of the equity in our home to help build an emergency fund and give us a little more financial cushion each month since we're living pretty hand-to-mouth right now. What are your thoughts on whether a reverse mortgage would work for us?I'm 66.5 years old and dealing with Social Security. I took my Social Security last year, starting it in June. I'm considering withdrawing what I've received and reapplying later, in a few more months or a year. What advice do you have about withdrawing my claim and any drawbacks I should know?When should I start receiving my Social Security benefits? I'll be eligible at 66.5 years old but intend to continue working until at least 70. What are the pros and cons of taking my benefits at 66.5 years old versus waiting until 70? I'm also considering using the monthly check between now and 70 to help pay my mortgage, but I'm unsure if that's the best financial decision. What are your thoughts on my options?Resources Mentioned:Christian Credit CounselorsRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Knowing where and how to give to God’s Kingdom can be a challenge for any one person…but all the more so if you’re married.It’s beautiful when couples agree on how to manage their money—how much to spend and save…but finding agreement on giving is just as important. Today, Bob shares what he and his wife, Leslie, learned about it.Bob Doll is the CEO and CIO of Crossmark Global Investments. He regularly contributes to Faith and Finance and other media outlets, such as Bloomberg TV, Fox Business, and CNBC. The Foundation of GivingFinancial disagreements are common in marriages, and the Bible provides wisdom on handling money in over 120 passages. This connection between our spiritual lives and finances is crucial—God wants us to integrate our faith with our financial decisions (Matthew 6:25, 33).Five Core Premises for GivingIn their home, Bob and Leslie follow five guiding principles:God Owns It All: The question isn’t how much to give but how much to keep.We’re Temporary Residents: We’re on earth briefly and in heaven eternally.Send It Ahead: You can’t take wealth with you but can invest in eternal treasures (Matthew 6:19-21).Increase Your Standard of Giving, Not Living: As Randy Alcorn puts it, “God prospers us by raising our standard of giving.”Give While Alive: They prefer to give their money away during their lifetime.Navigating Differences in Giving PreferencesBob and Leslie have different giving styles—Leslie prefers focusing on a few causes, while Bob prefers to give broadly. They’ve learned to compromise and respect each other’s preferences. Each initiates about 20% of their giving individually in their system, while they jointly decide on the remaining 60%.Structuring Their GivingTheir giving strategy involves a pyramid approach:Top Tier: Large gifts to a few organizations they’re deeply involved with and trust.Middle Tier: Causes they know well but are less involved in.Bottom Tier: Smaller donations to various ministries or individuals.A Practical Process for Giving DecisionsHere’s the process Bob and Leslie follow:Pray Together: Remember that it’s God’s money, and aim to be a faithful steward.Respect Each Other: Listen to each other’s voices and be open to the Spirit’s guidance.Be Strategic: Research potential opportunities and be mindful of red flags.Engage Personally: Get involved with some of your giving to maintain the joy and avoid feeling like a checkbook.Allow Flexibility: Be open to new ideas and understand that some giving may be seasonal.Learn from Mistakes: Don’t dwell on mistakes; learn from them and strive to be faithful.Key Truths to RememberBob concludes by reminding us of three critical truths:Time is ShortThe Need is GreatThe Cost is HighInvesting in God’s Kingdom yields eternal returns, far surpassing any earthly investment. As believers, we’re called to do “above and beyond” for the honor and glory of God’s name, our good, and the benefit of others.For more detailed guidance, see their article, “How to Plan Your Giving as a Married Couple.” On Today’s Program, Rob Answers Listener Questions:Both my parents are in their 80s. And my mom didn't work a lot. She stayed home with us. And then my dad worked, you know, work the job for a long time. And someone told her that if something happened to him, she could not draw his social security and that she wouldn't be able to draw his pension. So I didn't know if there was something that they could do about the retirement so she could pull it since he had worked all those years and made that money. Could you give me advice on any of this?I'm updating my will now that I live in Texas. Is it God's will for me to give my children a percentage of the funds that the Lord has gathered for me rather than splitting it three ways for them? I would like to give it to two to three nonprofit organizations I support now.Resources Mentioned:How to Plan Your Giving as a Married Couple (Article by Bob and Leslie Doll)Splitting Heirs: Giving Your Money and Things to Your Children Without Ruining Their Lives by Ron Blue with Jeremy WhiteSSA.gov/applyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Some people learn from the mistakes of others. Unfortunately, some people have to be the others.You certainly don’t want to be one of the “others” who must learn things the hard way by making mistakes. Today, we'll talk to Ron Blue about some of the biggest financial mistakes you want to avoid.Ron Blue is the Co-Founder of Kingdom Advisors and the author of many books on biblical finance, most notably “Master Your Money: A Step-by-Step Plan for Experiencing Financial Contentment.”Setting Financial GoalsRon emphasized the importance of establishing clear financial goals. Without clear financial goals, you're essentially aiming at nothing. Goals help you prioritize and manage your spending effectively. Setting goals provides direction and ensures that your spending aligns with your priorities.Avoiding a Consumptive LifestyleA consumptive lifestyle involves spending significantly more than necessary, often on things that don’t build financial equity. We all face the temptation of greed—a new car or a dress. Overspending on consumable items leads to a lack of financial growth. Instead, focus on investing in things that build equity and create long-term value.The Pitfall of GreedGreed is often disguised in pursuing the American dream. It's a subtle but pervasive issue. Tim Keller, a well-known pastor, once pointed out that in his experience, greed is rarely confessed as a sin. We often justify our spending under the guise of higher motives, which can lead to financial mismanagement. Avoiding greed starts with creating and sticking to a budget.The Importance of BudgetingMany view budgeting as restrictive, but it's quite the opposite—budgeting is liberating. A budget allows for pre-planned spending, which includes saving for vacations and preparing for emergencies like car repairs or broken appliances. Planning your expenses provides financial freedom and security.Giving: A Key to Financial FreedomMany believe that giving should come from surplus rather than regular income. However, giving is essential for experiencing true financial freedom. It's not about the money but about your heart and willingness to trust and honor God with your finances.By following these principles, you can achieve financial contentment and freedom. On Today’s Program, Rob Answers Listener Questions:What are the tax implications of an inheritance I received from my deceased mother-in-law? Part of the inheritance was a CD, which I understand has no tax implications. The other part was an IRA worth around $9,800 that was distributed to me. I don't know if there is a requirement to withhold taxes from that distribution or what the tax basis would be.I have a balance I have been trying to pay down at the hospital. I have been making $100 monthly payments, but when I get my statements, they still show the original balance and no credits for my payments. I have called the hospital billing department twice, and they said they would call me back within three days, but I never received a return call. Is there a way to get them to show where my payments are being reflected, or should I call the hospital administrator's office to resolve this since I am not getting responses from the billing department?My 97-year-old father had a term life insurance policy that he has now outlived. I checked with the insurance company, and they said something about a tariff that would apply if we tried to renew the policy at his age. Is it financially beneficial to continue the policy?How will my IRMA score impact my retirement planning? I would like to know if my situation is affected by this. My wife and I have been paying off debt and increasing our income over the past ten years through overtime and promotions. We are now debt-free, and I have recently surpassed six figures in income. I want to understand how my current income level might affect my Medicare premiums and overall retirement planning as I approach that stage of life in my 60s.Resources Mentioned:Master Your Money: A Step-by-Step Plan for Experiencing Financial Contentment by Ron BlueRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

According to some estimates, the average household spends an astonishing 40% of its food budget on eating out. That’s a lot to digest.After housing and transportation, food is probably the next biggest item in the budget. It’s also a place where you can easily make changes that will save you a lot of money.The Cost of ConvenienceEating out is convenient, especially for busy families with two working parents or parents shuttling kids to various activities. However, this convenience comes at a cost—not just financially but also in terms of health. Fast food often leads to weight gain and less control over nutrition. To combat this, consider preparing more meals at home. It starts with planning, particularly menu planning.The Power of Menu PlanningHow often have you looked in your cupboard and wondered, “Why did I buy that?” Before you go shopping, you can avoid this by planning your meals for the week—breakfast, lunch, dinner, and snacks. This also allows you to choose healthier options like fruits, vegetables, and nuts. When planning your menu, select meals you can prepare ahead of time over the weekend, eliminating weekday guesswork and last-minute scrambling.Creating a Shopping ListOnce your menu plan is ready, list all the items you need. Inventory your fridge and cupboards, crossing off what you already have. What’s left is your shopping list. Stick to this list when you shop, and you’ll start saving money immediately. To avoid impulse buys, eat a meal or snack before heading to the store.Strategic ShoppingAvoid the middle sections of the grocery store where cookies, candy, and chips are typically placed. Instead, focus on the outer sections where you’ll find meats, vegetables, fruits, and yogurt. Of course, you’ll need to venture into the middle aisles for certain items, but make these trips quick.Stocking Up and Choosing Budget-Friendly OptionsStock up on staples like cereals, rice, cornmeal, and oatmeal when they’re on sale. For protein, choose lower-cost options—hamburger costs less than steak, chicken costs less than hamburger, and incorporating a meat-free dinner into your weekly plan can save even more. Also, making coffee at home and taking it to work is far cheaper than buying it out, and the same goes for water.Utilizing Free Pickup ServicesMany larger grocery chains now offer free pickup options. This service helps avoid the temptation of unnecessary purchases while pushing a cart around the store. You can also keep a running total of your spending, making it easier to stay on budget. If you have little ones, curbside pickup avoids the “buy me this!” requests.Smart Shopping LocationsBe mindful of where you shop, as prices vary. Generally, larger stores or chains offer lower prices, though the service might not be as personalized. Some big box stores have membership fees, but shopping there even once a month can be worth it. Just be sure you can use the large packages before they expire and have space for them at home.Online Shopping for EssentialsYou can also save by buying household necessities online from sites like Amazon. Look for free shipping offers to save even more.Preparing more meals at home can save you a lot of money and help you eat healthier by allowing you to plan meals, shop strategically, and utilize modern conveniences.On Today’s Program, Rob Answers Listener Questions:The $50,000 my husband and I had in a CD expired. The new rate we're being offered for 12 months is only 4%, and I was wondering if there might be something better we could do with that money, given the bumpy roads that may be coming up with the upcoming election. Also, would it be a good idea to invest in gold? I have only studied the Bible for over a year, so I wanted to understand who should receive my tithe.My mother has $116,500 in a John Hancock safe access account, paying only 1% interest. She uses it mainly to pay taxes and her mortgage. I wondered if she could move that money elsewhere to get a better interest rate since she also receives a pension and social security.What would happen to my social security benefits if I were to pass away before my wife? As someone with a government pension from working in a police department who was not married when I retired, I know my pension will end when I pass away. I also know that because I have a government pension, my social security is cut in half from what it usually would be. I wanted to know if, if I pass before my wife, her social security benefits would go back up to the normal rate.Resources Mentioned:TreasuryDirect.govBankrate.comRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Qualified Charitable Distribution is one of the most underutilized tax benefits, yet almost 25 million Americans can take it.There are many requirements for taking a Qualified Charitable Distribution (QCD), or QCD. You must be 70 ½ and have an IRA. If more folks understood QCDs better, they might take them. David Hogan joins us today with the ABCs of QCDs.David Hogan is the Principal of Clifton Larson Allen CPA’s in Atlanta, GA. What is a Qualified Charitable Distribution (QCD)?Simply put, a QCD directly transfers funds from your Individual Retirement Account (IRA) to a qualified charity. This move doesn’t offer a deduction, but you don’t have to report the distribution as income, creating a unique tax advantage for those who qualify.How to Take a QCDTaking a QCD can be straightforward. If your IRA offers check-writing capabilities, you can write a check directly to your chosen charity. If not, you can set up a direct transfer online or over the phone. Your favorite charity can often assist you in setting this up if needed.Tax Advantages of a QCDA QCD can be particularly beneficial for those over 70 and a half if you’re not itemizing deductions. You might not get a tax benefit from your charitable contributions if you take the standard deduction. However, with a QCD, you avoid recognizing the IRA distribution as income, effectively reducing your taxable income.Required Minimum Distributions (RMDs) and QCDsAlthough the required minimum distribution (RMD) age has been moved to 73, you can still benefit from a QCD. Distributions to a charity through a QCD count toward satisfying your RMDs without adding to your taxable income. This is especially useful for those with larger IRAs who don’t need the funds for living expenses.Who Can Benefit from a QCD?QCDs aren’t just for the wealthy. While those with large IRAs can undoubtedly benefit, anyone with an IRA who is charitably inclined can use a QCD to gain a tax advantage. If you’re not itemizing deductions and usually take the standard deduction, a QCD allows you to give charitably without increasing your taxable income.Practical Tips for Using a QCDConsider replacing the charitable contributions you typically make from your after-tax dollars with distributions from your IRA. This strategy allows you to use your other assets for personal expenses while maximizing the tax benefits of your IRA distributions.A QCD is the best giving opportunity that many eligible individuals are not taking advantage of. If you have an IRA and are over 70 and a half, consider this tax-efficient way to support your favorite charities.On Today’s Program, Rob Answers Listener Questions:What should I do with my 401k since I’m approaching retirement in March 2025? I'll have around $200,000 in it, and I wanted advice on whether to roll it over to an advisor or leave it where it is once I retire.Can I deduct the value of my labor for the repairs and maintenance I do on the rental property where I live? Since I own and live in the building with some tenants, I do much of the work to keep costs down. But I wanted to know if I could charge for my time or labor and have it be legal.Would it be wise to take out a home equity line of credit on my $181,000 mortgage and use that HELOC to pay my daily expenses? I would throw my entire paycheck towards paying down the principal on the mortgage, and I would pay it off within about four years. I would like your thoughts on whether that strategy is a good idea.Would it be wise to use my $215,000 annuity to pay off my $140,000 mortgage as soon as possible? I'm 54 years old and will be retiring in about five years, at which point I'll receive a yearly pension of around $85,000-$90,000. I wanted advice on utilizing my annuity and whether eliminating my mortgage debt made the most sense.Resources Mentioned:An Uncommon Guide to Retirement: Finding God's Purpose for the Next Season of Life by Jeff HaanenRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Many think Solomon was the wisest man who ever lived…and much of his God-given wisdom is about managing money.John Putnam joins us today to talk about the 3 Money Moves of Solomon—so you can be just as wise.John Putnam is a Strategic Stewardship Coach, a Certified Kingdom Advisor (CKA®), and the founder of Money Made Faithful, a financial discipleship marketplace ministry.The Wisdom of King SolomonScripture makes it clear just how wise Solomon was. In 1 Kings, we learn that God granted Solomon wisdom and understanding beyond measure, surpassing all others in wisdom. So, what financial principles did Solomon advocate?1. Be DisciplinedThe first principle is to be disciplined. Proverbs 13:11 states, "Wealth gained hastily will dwindle, but whoever gathers little by little will increase it." Discipline in this context means making small, wise financial choices consistently over time, which leads to long-term success. This approach helps build a strong foundation for financial stewardship.2. Be DeniedThe second principle is to deny oneself. Proverbs 21:20 reads, "Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it." Denying immediate gratification helps prepare for future uncertainties and ensures you are better positioned to seize present opportunities. It fosters a wise stewardship mindset and focuses on God’s plans for your life.3. Be DeterminedThe third principle is to be determined. Proverbs 10:4 says, "A slack hand causes poverty, but the hand of the diligent makes rich." A clear vision, mission, and values are crucial for financial success. Determination helps create a focused approach to stewardship, impacting your life and leaving a lasting legacy.Timeless WisdomThese principles are timeless and apply to all stages of life. Whether in your twenties or seventies, the wisdom of disciplined, self-denying, and determined financial stewardship remains relevant. Sharing and applying these traits can create ripple effects through eternity.For more insights from John Putnam, visit MoneyMadeFaithful.com, tune into the weekly Money Made Faithful podcast, or follow @MoneyMadeFaithful on Instagram and Facebook.On Today’s Program, Rob Answers Listener Questions:I recently started pricing some options with my financial advisor but sought additional guidance. I was considering it because, at my age, in my late 50s, there may not be family available to care for me in the future, so I wanted peace of mind. Do you have any recommendations for specialists in my area of Naples, Florida, from whom I could get more advice?Is it possible to purchase a gift certificate equivalent to a store gift certificate for stocks? I want to give money to someone to invest in stocks, but they don't want to accept the money directly. Is there a way I could buy a "gift certificate" that they could then use to purchase stocks themselves?What is the best time of year to take required minimum distributions (RMDs) from my retirement account since I have to start taking them at 75? I am still working at 75 and directing the RMD money directly to my church. Do you recommend taking the RMD early in the year, in the middle of the year, or later? I am looking for guidance on the optimal timing.What is driving the strong bull market performance? My investment portfolio is up 35% over the past three years and I see sky-high returns. Will our grandchildren and their grandchildren ever be able to pay down the massive national deficit?Resources Mentioned:Money Made FaithfulStockpileCharles SchwabFidelityTreasury DirectRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Are you tired of feeling overwhelmed and anxious about your finances? You're not alone.For many, money is the number one source of stress. But what if you could transform your relationship with money from one of fear and dread to one of trust and joy? Dr. Shane Enete joins us today to discuss how we can do that.Dr. Shane Enete is an Associate Professor of Finance at Biola University and the author of the brand new book, “Whole Heart Finances: A Jesus-Centered Guide to Managing Your Money with Joy.”Addressing the Fear of Financial CommitmentOne of the most dangerous questions Christians might ask is, "Should I give away all of my money?" This question stems from a hidden presumption that Jesus disapproves of us having money. However, Jesus lived a physical life, requiring financial resources, and he merged the physical and spiritual worlds. Therefore, Jesus does not despise our need for financial planning. Understanding this can alleviate much of the fear associated with money management.When we separate Christ from our finances, we experience anxiety and alienation. By bringing our financial worries to God, we can grow in our relationship with Him and find comfort in His provision.Practical Exercises for Joyful Money ManagementAt the end of each chapter in his book, Shane suggests Whole Heart exercises to help readers experience joy in managing money. One such exercise is creating a financial gratitude journal. You can transform a mundane task into a formative gratitude practice by tracking your expenses and recognizing God's provision.Another exercise involves building an "elder years reservoir" for retirement. This concept focuses on sustaining generosity throughout life rather than merely accumulating wealth. By meditating on the amount needed to maintain a generous flow of resources, you can align your financial planning with your values.Maximizing GenerosityRather than asking, "How much can I save?" ask, "How much can I give?" This mindset shift aligns with the biblical principle of generosity and helps Christians manage their resources with a heart transformed by Christ.Transforming your relationship with money requires integrating your faith into your financial decisions. By trusting Jesus, practicing gratitude, and prioritizing generosity, you can move from anxiety to joy in your financial journey.On Today’s Program, Rob Answers Listener Questions:What are the tax implications for my children, who have received an inherited small farm and house in their name since the 1990s? They did not have control over it until recently, when their father passed away. I wanted to know if they would have to pay capital gains or inheritance taxes now that they have complete control over the property.I recently transitioned from being an employee getting paid hourly to being an independent contractor on a 1099. I wanted to know if taking on more responsibility as a self-employed person was digging myself into a hole from a tax perspective or if there could be benefits. I also asked about keeping track of my miles for tax deductions and whether I could claim detention time spent waiting at locations as a deduction since I'm not paid for that time.Resources Mentioned:Whole Heart Finances: A Jesus-Centered Guide to Managing Your Money with Joy by Dr. Shane EneteBiola UniversityRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Homeowners now have an average of nearly $300,000 in home equity, and the nationwide total is staggering at $16 trillion. Home equity is undoubtedly one of our largest assets. So, how do the biblical principles of stewardship apply to it? Harlan Accola joins us today to discuss this.Harlan Accola is the National Reverse Mortgage Director at Movement Mortgage, an underwriter of Faith and Finance. He is also the author of Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement. Understanding Reverse MortgagesToday’s reverse mortgages are not the same product that gave the name such a negative reputation in the past. Here are some of the facts that need to be known:Not Like Credit Card Debt: Unlike credit card debt or the subprime crash of 2008, reverse mortgages don't carry the same financial risks.Widow Protections: New laws ensure that widows can stay in their homes for as long as they wish, a significant improvement from the past.Retained Ownership: Modern reverse mortgages allow homeowners to maintain ownership and pass their homes to their children, unlike older versions that often result in loss of ownership.Home Equity as God’s ProvidenceHome equity is a remarkable gift, especially for baby boomers who have seen their home values skyrocket over the decades. If you bought a house in 1967 for $100,000, it might be worth a million dollars today. This incredible growth represents a unique wealth that no other generation has managed. As Christian baby boomers, we hold a significant amount of this wealth and must manage it wisely.We've all heard the phrase "Home is where the heart is" and Jesus' words in Matthew 6:21, "Where your treasure is, there your heart will be also." Our hearts can become too attached to our homes, and we need to view our home equity as we do other assets – with stewardship. This means planning strategically how to spend, give, manage, preserve, and grow it, just like we would with our savings or retirement funds.Practical StewardshipWhile we would never encourage someone who is strongly led to be debt-free to leverage their home equity, it can be a powerful tool for many in this stage of life. Whether through reverse mortgages or buying and selling homes, we should consider how to use our home equity in the best interests of our family and God's kingdom.It's also important to note that the government guarantees these reverse mortgages. This means you don't have to worry about being kicked out of your house if you live too long or the home's value decreases. This guarantee makes reverse mortgages unique and different from other types of debt.Movement MortgageFor those interested in learning more about reverse mortgages and how to manage their home equity with biblical stewardship, visit movement.com/faith. You can also email reverserequest@movement.com; someone from their team will be happy to help.On Today’s Program, Rob Answers Listener Questions:Would investing the $35,000 due in gold or CDs be better? I plan to give the interest or increased value to charity within the following year.If I were to die at 68 years old, being married to my second wife for 26 years, but she is not currently drawing social security at 63, would she receive part or all of my social security since she has never remarried?Should I roll over some money from my 401k into an IRA annuity? I currently have some money in an annuity that guarantees 4%, but I wanted to know if better annuity options are available now that could provide a higher rate of return.Are there any repercussions if I draw on my grandchild's social security? I have about a year and a half before I retire and am raising my grandchild. I wanted to know if I could do that or what the situation was regarding drawing on a grandchild's social security.Resources Mentioned:Movement MortgageSSA.govRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.