Faith & Finance

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.

Americans have an average of four credit cards. Do you really need that many? And how many is enough?Too often, we hang on to credit cards we no longer use…providing an unnecessary invitation to identity thieves to run up charges in our names. Canceling them is a good idea if done correctly.The Risks of Holding Unused Credit CardsMany of us hang on to credit cards we no longer use, but this can invite identity thieves to run up charges in your name. Canceling unused cards is a good idea, but it needs to be done correctly. Let’s explore why and how to do it.Why Closing a Credit Card Affects Your Credit ScoreOne common concern is whether closing a credit card will affect your credit score. The short answer is yes, it will drop a little. This drop happens because of the way credit scores are calculated.Algorithms used to calculate your score favor long-standing accounts, available credit, and a mix of account types (like credit cards, auto loans, and mortgages). Closing a credit card affects these factors, hence the drop in your score. However, this drop is usually minor and temporary.When to Be Cautious About Closing a Credit CardIf you’re shopping for a mortgage or another major loan, it’s essential to maintain the highest credit score possible. A lower score, even by a few points, can result in a higher interest rate, costing you more money over time. In other cases, the drop in your credit score from closing an account is not something to worry about too much.Why Close Unused Credit Cards?There are two main reasons to close unused credit card accounts:Reduce Temptation: An unused credit card can become a temptation during financial stress. Instead, rely on your emergency fund for unexpected expenses.Prevent Identity Theft: Unused accounts are a target for identity thieves. Closing these accounts reduces your risk.How to Properly Close a Credit Card AccountIf you decide to close an unused credit card account, here’s how to do it properly:Pay Off the Balance: Ensure there is no remaining balance on the card.Cancel Recurring Charges: Check for any recurring charges and cancel or transfer them.Notify the Issuer: Call your card issuer to cancel the account and follow up with an email or letter for confirmation.Check Your Credit Report: Verify the account is closed by checking your credit reports from Experian, TransUnion, and Equifax. You can access these reports for free at AnnualCreditReport.com.Gradually Closing AccountsAvoid closing several accounts at once. This can multiply the negative impact on your credit score. Instead, close no more than one or two accounts every six months. This gradual approach minimizes the adverse effects while keeping your credit utilization low and maintaining timely payments on other accounts.Following these steps, you can manage your credit cards wisely and protect yourself from potential risks. And remember, a slight dip in your credit score from closing an account is usually not a cause for concern.On Today’s Program, Rob Answers Listener Questions:What are the tax implications of selling a rental property I own in Montana? I recently sold the property and want to reinvest the money from the sale into my business and possibly another investment property. What will my tax obligations be for the sale of the property? Is there a way that I can put the money into something like a 1031 exchange to use the funds for reinvestment without being taxed on it as income?I'm paying an extra $115 over my normal monthly payment amount. However, when I check my statements, I notice that my bill is not changing, and the extra $115 I'm paying is not reducing my principal balance. I've called my loan servicer about this, and they tell me that I still have one more payment to make, but that doesn't make sense if I'm paying extra each month.I have some retirement funds that I have from working as a government employee that I have not utilized yet and will need to move. I have two TSP funds sitting there and was looking for recommendations on what to do with the money. I'm also retired, so I wanted to check if my age will impact anything when moving the funds to an IRA. Additionally, I was curious about keeping the money in an IRA for a long time and potentially making a trust the beneficiary instead of just leaving it to my kids directly.Resources Mentioned:The Sound Mind Investing Handbook: A Step-by-Step Guide to Managing Your Money From a Biblical Perspective by Austin Pryor with Mark BillerAnnualCreditReport.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.

“And let us not grow weary of doing good, for in due season we will reap, if we do not give up.” - Galatians 6:9One Christian ministry has been doing good for nearly 150 years and shows zero signs of growing weary. Scott Collins joins us today to discuss Buckner International and its ongoing efforts to support foster care, adoption, and family outreach.Scott Collins is the Senior Vice President of Communications at Buckner International, an underwriter of Faith & Finance.A Legacy of Service Since 1879Buckner International, founded by R.C. Buckner 145 years ago with just $27 for its first orphanage, has grown into a multifaceted ministry dedicated to serving vulnerable children and families worldwide. One of their well-known initiatives is the Shoes for Orphan Souls program, which provides shoes to at-risk kids globally. However, Buckner’s mission extends far beyond this.Current Ministry EffortsToday, Buckner International focuses on:Shoes for Orphan Souls: Providing footwear to children in need.Foster Care and Adoption: Finding loving homes for children.Family Outreach: Supporting families to create stable and nurturing environments.Humanitarian Aid: Offering essential resources to those in crisis.Community Development: Building strong communities through various programs.Buckner’s ultimate goal is to lead people to Christ. The Spirit of God is actively using its initiatives to inspire professions of faith, with numerous individuals committing their lives to Christ in the past year.How You Can HelpIf you’re inspired by Buckner International’s mission and want to support its efforts, visit Buckner.org and click “Donate.” Your contribution can help continue the transformative work Buckner is doing worldwide.On Today’s Program, Rob Answers Listener Questions:Do I need a lawyer to draw up another deed to add transfer-on-death beneficiaries to our home deed since we own a home in Iowa?What do I do with an inherited IRA that my fiancée received after her father passed away? She is currently in Chapter 13 bankruptcy, and I was wondering if the IRA would be exempt from her creditors. I was also asking for advice on what to do with the funds once her father's estate is settled and she inherits more money once her bankruptcy is paid off.I have two private student loans totaling $70,000 with interest rates of 9.5% and 10.5%. Would it be wise to get a lower-interest personal loan or refinance the existing loans?I invested $10,000 in I-Bonds two years ago, specifically for my daughter's college. Since the interest rates on I-Bonds have dropped below 5%, is there another investment I could transfer the I-Bond money that would have a better return?Would it be reasonable for me to transfer my money management to a financial advisor in Florida? I recently moved to Florida from the northern United States, and my current financial advisor is still up north. Would there be any problems with transferring, and would transferring allow me the convenience of meeting with an advisor face-to-face by walking into their local office?Resources Mentioned:Buckner InternationalGiveShoesToday.orgRich 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 data shows that personal debt is rising, and folks are worried about their financial future. So what’s the solution?We can’t control some things, like inflation and a slowing economy. But we can do some things—especially when managing and eliminating debt. Neile Simon joins us today to discuss the solution to fretting over finances.Neile Simon is a Certified Credit Counselor with Christian Credit Counselors (CCC), an underwriter of Faith & Finance.Understanding The Financial StormWith credit card debt at an all-time high, the GDP falling, and a disappointing jobs report, it’s a perfect storm for financial stress. Debt is a common part of life, but it becomes a significant issue when it consumes our lives. Christian Credit Counselors is here to help, emphasizing that financial challenges shouldn't be faced alone. We must discuss our finances and reduce the stigma around debt because many experience it. Often, guilt and shame prevent us from seeking the help we need.The Extent of Financial WorriesA 2024 survey by the Wells Fargo Foundation highlights the extent of financial worry among Americans:61% feel that most improvements in the U.S. economy don’t benefit people like them.55% agree that economic uncertainty makes achieving long-term financial goals impossible.39% are concerned their money won’t last, and 24% feel they will never have the things they want due to their financial situation.31% don’t pay all their bills on time, and only 42% have a budget and track spending.The top financial concern remains to be a lack of savings. Steps to Financial FreedomHere are some practical steps to move from an uncertain financial future to a secure and stable tomorrow:Get Out of Debt: Connect with a certified credit counseling company to reduce payments and interest rates, allowing you to get out of debt 80% faster while honoring your debt in full.Spend Less Than You Make: Focus on saving and creating a financial cushion.Experience Peace: Achieve financial peace that enables you to give generously and find contentment.Christian Credit Counselors offers free and confidential consultations to educate you on your options, provide a comparison estimate outlining all the program's benefits and fees, and help you create a budget and plan to get out of debt. They aim to empower and encourage you to make a plan together.By taking proactive steps and seeking help, you can find a path to financial freedom and peace.On Today’s Program, Rob Answers Listener Questions:My question was about clarifying the capital gains tax exemption requirements for selling a primary residence. Specifically, I wanted to know if the five years of ownership required to qualify for the exemption had to be the most recent five years or if there were any exceptions to that timeframe.What should I do with the $30,000 to $50,000 profit I expect to make from selling my house? Since I plan to move to senior housing, I want advice on making that profit work for me, such as investing it for retirement.What do I do with my Thrift Savings Plan (TSP) account from retirement as an Air Force reservist technician? I currently have around $200,000 in my TSP and wondered if I should take that money out and reinvest it in a money market account or leave it where it is. I want advice on the best option for managing that money in retirement.What factors should I consider when pricing a trust I want to set up? Specifically, I wanted to know if trusts typically have a set fee or if there are other things I should look at besides the price. I was curious about the typical cost range for a basic trust.Resources Mentioned:Christian Credit CounselorsChristian Community Credit UnionBankrate.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.

“My eyes are ever toward the Lord, for he will pluck my feet out of the net … the troubles of my heart are enlarged, bring me out of my distresses.” - Psalm 25:15, 17Do you feel trapped by your finances? Do you find yourself giving in to worldly pressure? Is there a way out of the world’s money trap? There is, and Sharon Epps joins us today to talk about it.Sharon Epps is the president of Kingdom Advisors, FaithFi’s parent organization. Kingdom Advisors serves the broad Christian financial industry by educating and equipping professionals to integrate biblical wisdom and financial expertise.Finding Financial FreedomYou might be surprised to learn that financial anxiety isn't exclusive to those who are struggling. People living beyond their means often fear the unexpected, while those living right at their means worry about the future. Even individuals with a financial surplus can feel trapped by never having enough, seeking security in money rather than elsewhere.In John 17, Jesus prays for his disciples, which highlights that while we are in the world, we are not of the world. This perspective is crucial when considering our finances. Being "in the world, not of the world" doesn’t mean we abandon modern conveniences or go off the grid. Instead, it means aligning our financial practices with three life-changing concepts from God's economy:Lordship: Surrender to the fact that God owns everything. Psalm 24:1 reminds us, "The earth is the LORD's, and everything in it, the world, and all who live in it."Stewardship: Use God’s resources to fulfill His purposes. As Genesis 2:15 states, "The LORD God took the man and put him in the Garden of Eden to work and care for it."Generosity: Sharing releases the world’s grip on us. The Macedonians' example in 2 Corinthians 8:2 beautifully illustrates this: "Out of the most severe trials, their overflowing joy and extreme poverty welled up in rich generosity."To put these spiritual concepts into practice, here are three practical steps:Transfer ownership to God: Acknowledge that everything we have belongs to Him.Create financial margin: This allows us to fulfill God's purposes without being constrained by our own needs.Grow in giving and sharing: Generosity breaks the power money has over us.Money is a valuable servant but a terrible master. Jesus said in Matthew 6:24, "No one can serve two masters... You cannot serve God and money." Money has power over us, which is why the Bible contains more than 2,300 verses on money and possessions. It's also the only area where God invites us to test Him, promising He will provide.Money is undeniably powerful, but generosity is even more powerful. It's a tool that can liberate us from the world's financial traps.Implementing these principles can transform our relationship with money, leading us to a life of greater peace and purpose.On Today’s Program, Rob Answers Listener Questions:I recently turned 62 and probably think about working for another five years until I’m 67. I live in an apartment in Iowa with my wife, who is slightly younger than me. My wife and I have a home in another state, and we're considering selling it. It's worth about $1.1 million, but we're considering selling that and then paying off the remaining balance, which is probably close to about $303,500. We just wanted to see if we could leave some of that money to my three kids. Would it be taxed?What is your opinion of a reverse mortgage, and is it a sound financial decision?I'm the oldest sibling, and my father passed away in 2015. My mom will be 100 in a couple of weeks, but they have a home right now that she has not been living in for the past eight months. Everything is in a trust fund for the kids upon her passing. Will a capital gain tax exist, and who must pay that? Is it based on when the house was sold? My parents built the house in 1967.I'm the oldest of four siblings, and both my folks have passed away. There's about $160,000 in an IRA portfolio and another $60,000 in various stocks, and all that's in the trust. My sister is a trustee. So we want to liquidate that, or some of us want to. I'm 68 and don't want to take that tax hit until I retire in two years. Can we split up that distribution four ways and pay individual taxes on it? How do the taxes work on that?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.

Romans 12:9 says, “Let love be without hypocrisy. Abhor what is evil. Cling to what is good.” It may not be intuitive, but this verse is a compelling guide for applying our faith to our investment decisions. We’ll talk with Jason Myhre today about how we can love without hypocrisy as we invest our money.Jason Myhre is the Executive Director of the Eventide Center for Faith & Investing, an educational initiative of Eventide Asset Management, and an underwriter of Faith & Finance. Bringing Faith into Investing: A Deeper LookThe phrase, “Let love be without hypocrisy,” challenges us to ensure our love is genuine. In Paul's time, hypocrisy referred to actors wearing masks and pretending to be someone else. Similarly, our love must be real, not a façade. As Christians, the greatest commandment is to love God and our neighbors authentically. This principle extends to our investments, calling us to invest with genuine love and integrity.Recognizing Good and EvilPaul’s guidance on what real love looks like—abhorring evil and clinging to good—provides a litmus test for our actions. Genuine Christian love passionately opposes evil and fervently supports good. In the context of investing, this means avoiding investments in companies that engage in harmful practices and supporting those that contribute positively to society.Three Key Takeaways For Faith-Based Investing1. Add Moral DiscernmentTraditional investing focuses on risk and return. However, as Christians, we should prioritize moral discernment. When investing, we are supporting real businesses with real-world impacts. Recognizing the moral dimensions of these businesses is crucial. We must look beyond the numbers and assess the ethical implications of our investments.2. Avoid Harmful InvestmentsWhile not every investment decision is clear-cut, some areas are easier to discern. The Christian investment community consistently recommends avoiding companies involved in abortion, tobacco, pornography, gambling, and alcohol. These industries are consistently identified as morally problematic. Faith-based investing can guide us in steering clear of such entanglements.3. Embrace Good InvestmentsMany businesses produce goods and services that benefit society. As investors, we should actively seek out and support these companies. Investing in businesses that align with our values allows us to live out the love described in Romans 12:9.Taking the Next StepTo help you apply these principles, Eventide Center for Faith and Investing has created a resource listing faith-based investment products that align with Romans 12:9. You can access this resource at faithandinvesting.com/faithfi.By integrating faith into our investment decisions, we can honor God and contribute to a more just and loving world. Let's strive to invest with authenticity, discernment, and a commitment to good, reflecting our Christian values in every financial choice we make.On Today’s Program, Rob Answers Listener Questions:I currently have a three-bedroom, two-bathroom home with my husband, and we're looking to upgrade it because my parents are planning on moving in with me. We're selling our current home and plan on having $260,000 as a deposit somewhere. Our ballpark is around $500,000, but finding a four-bedroom at that price point is a little tricky. In the worst case, we'd be willing to go up to about $540,000, but that's about 30% of our take-home expenses. 25% is the ideal, and I wanted your thoughts on that.What documentation does the IRS need from a church for me to claim a deduction for tithes paid last year? We tithed to a church last year and then changed churches. However, we didn't receive documentation of giving from the church we left. We've tried to contact the church but haven't got a response.Resources Mentioned:Eventide Center for Faith & InvestingList of Faith-Based Funds (By ECFI)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.

Do you think of yourself as a generous person? Most of us would like to think we are, but do we know why we’re generous?Jesus told us that it’s better to give than to receive, and Christians are very generous people. Today, we’ll hear from Chris Gabriel about why this is the case and how we can be even more generous.Chris Gabriel is the author of WISEgenerosity: A Guide To Purposeful and Productive Living and Giving. Chris recently spoke to financial professionals at the 2024 Kingdom Advisors Redeeming Money Conference in Orlando. However, his keen insights on why and how we’re generous apply to all of us.Embracing Generosity: A Divine DesignThere's a simple explanation for why we feel compelled to be generous: God made us this way. All discussions on generosity, whether they start this way or not, eventually lead to God. The conversation becomes more meaningful when you share your own stories about giving, priorities, and purpose. Generosity has a powerful impact, and it's no accident. Jesus, the most generous person who ever lived, exemplifies this mindset.We often encounter a scarcity mindset—the belief that whatever we have is never enough. This lie hinders our ability to give freely. In contrast, God’s abundant economy views opportunities as limitless, accessed through giving and generosity. This principle is captured in Proverbs 11:24: "One gives freely, yet grows all the richer; another withholds what he should give, and only suffers want." This reflects God's intention for how we should live.Fostering generosity has two goals: removing barriers to giving and presenting opportunities to serve God and others. Many struggle with giving because they don’t see themselves as generous. They compare themselves to others and feel inadequate. Addressing this identity issue can help cultivate a generous mindset.Generosity can be expressed in three ways: kindness, charity, and philanthropy. Kindness, the most common form, makes life meaningful and enjoyable. Charity involves direct, tangible assistance to individuals or groups, while philanthropy focuses on solving broader societal issues. Both are essential and resonate differently with people.Understanding whether you lean more towards charity or philanthropy can help tailor your giving approach. Charity is often more emotionally connected and immediate, involving direct interaction and visible impact. Philanthropy addresses systemic problems, focusing on larger-scale solutions.By recognizing and embracing our God-given capacity for generosity, understanding the different expressions of giving, and overcoming identity barriers, we can enhance our ability to serve and positively impact the world. Generosity is not just about money; it's about engaging with others and contributing to a greater purpose. Let's strive to live as God intended, giving generously and embracing the limitless opportunities in His abundant economy.On Today’s Program, Rob Answers Listener Questions:Do I need to 1099 the young man I'm hiring to help with my small agricultural operation this summer? I want to have everything set up correctly from a tax perspective when I pay him.What are the tax implications of cashing out $16,000 in stocks, and do I have to give $50,000 to my church's building fund? Most of the money comes from our savings, but I want to understand if I have any tax liability from cashing out the stocks I should be aware of.Is there an insurance stock fund that I could invest in to diversify my portfolio? I'd also like your general thoughts on fixed-indexed annuities.Resources Mentioned:WiseGenerosity.comWISEgenerosity: A Guide for Purposeful and Practical Living and Giving by Chris GabrieliSharesState StreetInvescoRich 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 storing up treasures on earth, or in heaven? Are you focused on the temporal or the eternal?In Matthew 6, Jesus clarifies that our hearts will always follow after what we treasure. Was he talking about money? Chad Clark shares his insights with us today. Chad Clark is the Executive Director of FaithFi: Faith & Finance. What does Jesus mean when he says, “For where your treasure is, your heart will be also”? It challenges us to evaluate what we treasure most. It's common for us to say that where our money is, there our hearts will be, and we can sometimes use this to encourage generosity. People can look at their checkbooks to see where their hearts are based. However, there's another way to look at the word “treasure,” which doesn't refer to physical treasure but more to what we value or devote ourselves to. There are parallels between Matthew 6:21 and Matthew 13:44, where Jesus tells us the kingdom of heaven is like treasure hidden in a field that a man found and covered up. Then, in his joy, he sells all he has and buys that field. Now, we see the word treasure here in both of these. But for this man in Matthew 13, nothing is more important, valuable, or glorious than this treasure he has discovered.How is this idea foundational to the way we manage God’s money? Jesus follows up this statement in Matthew 6:24, where he says:“No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.”Money is a terrible master, but it is a useful tool. Paul David Tripp puts it this way:“Money is one of God's good creations. But a good thing becomes a bad thing when it becomes a ruling thing.” So, the question we need to wrestle with today is, where is our treasure? Is our hope, joy, safety, satisfaction, and identity found in money, and are the things of this world in the person of Jesus?When God is the treasure of our hearts, it completely changes how we view and use money. We see money as a tool for His glory and desire to faithfully steward what He has entrusted to us. That means that our financial decisions may look and probably should look very different from the rest of the world because we aren't here to build our kingdom, but His. Support FaithFi’s MinistryIf you'd like to partner with us to help others on their stewardship journey, would you consider supporting FaithFi? A gift of any amount would go a long way to helping us bring this message to more people. A gift of $25 or more would allow us to send you a copy of our new study, Rich Toward God. Just go to faithfi.com/give.  You can also become a FaithFi Partner by giving a gift of at least $35 a month. FaithFi Partners are committed to living out biblical stewardship principles in their lives and desire to see others be good and faithful stewards of God's resources.FaithFi Partner Benefits*:Exclusive quarterly ministry updatesEarly release copy of each FaithFi Study mailed to your door50% discount on additional orders of FaithFi Studies25% discount on FaithFi Pro*Donations of $35/month ($400/year) qualify for FaithFi Partner benefits.On Today’s Program, Rob Answers Listener Questions:Does a VA loan have a different appraisal amount than a conventional mortgage?I'm 58 years old and looking to retire between 62 and 65 if I can make it. I do have some savings and some investments. I have an inherited Raymond James brokerage account and about half a million in there. Then, I got a Charles Schwab Roth IRA, primarily invested in NVIDIA for about $100,000. I also have a condo that's paid for that is worth about $260,000. I’m just wondering if it'd be a good idea to cash out what I have in the Raymond James account, just to sit on it for a while and see what the markets do. It feels like the stock markets are just really high right now, and I would hate to go back down at that end to that decrease and lose all those gains that I had made the last couple of years.My wife and I are currently separated. There's a divorce settlement agreement out there, and as I looked through the contract, I noticed that I could keep the house. But I will need to provide $35,000 to her, which I don't have on hand. So to do that and take my wife's name off the mortgage, I will have to refinance. The bad part about that is that I have a really good low rate right now, and the rates for refinancing are not very good currently. I was just wondering if there are any other strategies out there that I could consider, whether dipping into my 401k or anything else, because I want to stay in the house.I have a problem with a law firm that I reached out to to renegotiate some credit card debt and get the interest rates down. Unfortunately, they haven't done anything, and they’ve been taking $1,500 a month from me. Now I have two lawsuits outstanding. What should I do? 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.

From Jeremiah 29:7, we know God's people should seek the welfare of the places and people around them. But is seeking the welfare of our community something Christians can pursue by means of investing choices?Today, we speak with an investment manager who has been "seeking the welfare of cities" all over America and the world through his advocacy work with corporations. As we will hear today, investors can influence decisions made behind closed doors by corporations. Chris Meyer joins us today to examine how this advocacy works.Chris Meyer is the Manager of Stewardship Investing Research and Advocacy for Praxis Mutual Funds®, an underwriter of Faith & Finance. What is shareholder advocacy, and how are you currently doing it with Praxis?At Praxis, they use seven different impact strategies to make a difference through investments. One of them is shareholder advocacy, which they also call corporate engagement. It harnesses the power of ownership to create change by using voting stock rights and privileges. This can take the form of writing letters, filing shareholder proposals, and dialogue with company management, which is the most effective form of engagement. Their advocacy program aims to build relationships with companies and help them improve their policies and performance, rather than chastising or embarrassing them.What’s the recipe for real, lasting change in how these companies operate?Meaningful change always takes time. When they start an engagement with a company, their outlook for achieving goals is typically in terms of years, not weeks or months. Part of that is spent on building a solid foundation because they need to understand the issues we work on deeply. So they familiarize themselves with the necessary information to speak intelligently and purposefully when they engage the company. And that takes, of course, a lot of preparation. They also seek to build trusting relationships with the companies they engage with. This comes over many minor and significant interactions with company leaders. Trust, as we know, is usually earned and not given, and so that takes time as well. However, companies typically come to understand that Praxis is approaching them in good faith and that we're invested in their success, not just our own; an overarching goal they have for every engagement is to reach mutually beneficial outcomes. So, for instance, if a power company is able to reduce its air and water pollution substantially, it's excellent for creation. The company is also more efficient in its operations and better positioned to compete against its peers. And its reputation can benefit as well. In the long term, that's better for shareholders, the company, and the communities where it operates.How do you stay motivated when change seems to come so slowly?Recognizing incremental changes along the way, even small ones, is crucial as these can facilitate future progress. As individuals, we are not responsible for solving all the world's problems alone or righting all wrongs. The mission is to work toward creation's wholeness with the time and resources available while honoring the progress made step by step. This long-term perspective can help us persevere even when change does not happen as quickly as desired.On Today’s Program, Rob Answers Listener Questions:Is there any way I could make an extra $400 per month to help support my wife and me until her disability is reapproved, which is expected to take up to nine months? My job in the restaurant industry doesn't provide stable hours, so I wanted to know if there were any other options to increase our income temporarily during this challenging time.Should start taking my Social Security benefits at age 67 or wait until age 70? I recently applied for Social Security but haven't received a decision yet. I want to put the lump sum retroactive payment and my monthly benefits toward paying my $87,000 mortgage. According to a mortgage calculator, I could pay it off within two years if I do this. However, my nephew thinks I should wait until I am 70 for higher monthly benefits. I didn't fully understand his perspective, so I wanted your help in explaining the pros and cons of each approach.Do I need to pay tithes based on the interest I am earning from a CD that I have invested in through my financial advisor? Rather than taking the interest payments, I have been reinvesting them, so I would like to know if I should be tithing on that interest income even though I have not actually received the money since it has been reinvested back into the CD.Resources Mentioned:Praxis Mutual FundsRich 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.

Statistics show that many people aren’t saving for retirement. Others may have far more than enough. How do you find the right balance?Yes, saving too much for retirement is possible, although many more folks aren’t saving enough. What does Scripture tell us about responsible savings? Brian Holtz fills us in today. Brian Holtz is the Chief Operating Officer at Compass Financial Ministry and the author of Financial Discipleship for Families: Intentionally Raising Faithful Children.It’s essential to save and invest enough for retirement, but it’s just as misguided to prioritize that above all others, right?The Bible gives us direction in both cases, all with the goal of finishing well:We find God encouraging us to save in Proverbs 21:5, Proverbs 21:20, Proverbs 30:24-25, and Genesis 41:34-36.But like everything else, saving should be intentional. The goal is to be a good steward rather than living a life of excess or becoming less dependent on God.What are some ways to ensure we’re saving responsibly?Discern what God has called you to do.Determine the expected cost, including an appropriate “emergency fund” to ensure you can persevere through challenges.Save toward those specific things and with those particular goals.When you have enough, ask God where He would have you shift new financial resources.It’s important to know what you’re saving for, right? Absolutely! Avoid having money set aside without a purpose. If it’s for emergencies, call it emergency savings.If it’s for kids’ or grandkids’ college, call it that.If it’s for radical generosity, call it that. You may not know precisely what it will be used for, but giving it a name helps you remember the purpose God has called that money to so you can remain faithful in your stewardship. There is a big difference between saving a million dollars for retirement and saving a million dollars for your next car. Give the money a purpose and save an appropriate amount for its purpose.What about retirement savings?In your retirement savings, figure out what total you need to care for yourself and your spouse and faithfully work toward that goal. When you reach that goal, shift additional resources to another one of God’s priorities in your life.With so many unknowns in retirement, you can never have enough, but over-saving can have two negative outcomes. First, it can lead to us adopting a lifestyle inconsistent with our values. If I’ve already determined what I should save to do what God’s called me to do, I’m far less likely to get off track in my spending decisions.Second, when we oversave, we miss the opportunity to participate financially in God's work. While we keep this extra money in our personal accounts, earning ten or fifteen percent a year, it’s not being invested in God’s work, and He always outperforms the market.What new changes are we seeing at Compass?Compass's rebranding and messaging efforts are all centered on helping people understand who we are and how we can help.The new name and tagline is Compass Financial Ministry: Well Versed In Finances.New website: CompassFinancialMinistry.org.On Today’s Program, Rob Answers Listener Questions:I just received an inheritance and wanted to know if it would cause my Medicare premium to go up.My wife's parents both passed away in the last eight months or so, and we now have inherited a farm. We had an appraisal done to establish our tax bases, and we're probably looking at selling a portion of it, at least the house and the farm buildings. Based on the appraiser's opinion, should we sell that, or would it be better to hire a real estate lawyer to do that for us?What is your opinion on purchasing gold coins? My husband and I had several thousand dollars in regular savings accounts and wanted to move them to an online bank where we'd get higher interest. But my son suggested we put them in a money market account through Schwab. Can you explain the difference between the two? In July, it will be two years since I opened an I-bond. When I did that, it was over 9%. I went online and tried to look at it, but I'm having difficulty understanding the current interest rate. And then, should I cash that out, depending on what that is? I was told you can cash that out without losing money after a year.Resources Mentioned:Compass Financial MinistryBankrate.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.