Ways to Boost Your Income

Going over your budget till your eyes glaze over and cut every unnecessary expense. It's been months since we went out for pizza but the numbers still don't work. But there's one thing one thing left to do so, you have to use your income in ways that today financial planner and teacher around West that last picture calls most days but not today. We are not in the studio.

This broadcast cord, but we have great information coming away change of plans. We hope will stay what is right here on my Rob we have shout out to faithful moneywise listener Dan for suggesting this topic.

Yeses were always talking about trimming the budget, but he suggests that sometimes it's easier to balance the books. By bringing in just a little bit more income and he certainly right about that Steve. So thank you Dan and you want to start. Let's please get started. Just as first one is easiest by far. We talk about this a lot. Move your savings to an online bank they pay much higher interest than brick-and-mortar banks. It won't net you a lot, but it's certainly easy to do.

Number two is taking paid surveys companies will actually pay you to answer consumer related questions completing a few surveys a day could bring in $200 a month want to check out survey junkie swagger box and then Dale research to name a few of then Dale has surveys that pay up to $50 and by the way, Steve. All of these links, we give during the segment will be in our show notes.

You can check that out it moneywise while.org I will not seem simple enough answer questions get money. What's next well number three is a little more involved but it can pay big bucks sign up to list an extra room in your house on air BND. One survey found that the average air B&B host earns over $900 a month. That is amazing and I suspect that maybe your location is a big factor in how much you can actually charge and earn if you live near a big city or major tourist attraction Disney World or Niagara Falls.

You can probably command more than if you live in the middle of Montana. Not that I don't like month and I do like Montana Billings Montana trout fishing all that, but still location may have a major impact. I think that's probably true. The only way to know for sure is to sign up at air B&B number four is making extra dollars by grocery shopping.

You can do that with an app called I bought is and I bought a something at the grocery store that IBO TTA gives rebates on items at the grocery store, you're probably buying anyway. Just scan the items barcode snap a picture of the receipt and you get rebate money within a couple of days five is similar but for online shopping.

These days were buying more and more stuff online.

So why not get cash back for doing it.

Check out Rakitin shopping home and coupon cactus, to name a few. Makes sense if you're shopping online anyway. And if you're not signed up with one of those. It's like throwing money away.

Know what else to well number six is driving for Uber or lifter. There has been a lot of hype about how much drivers make on average but around $12 an hour seems like a fairly realistic estimate number seven is in this sounds a little crazy, but you may be able to make money with T-shirts T spring that's TEE spring.com allows you to design and sell shirts through their site without paying upfront for inventory. They print and ship the shirts to your customers.

So if you're feeling really creative that my mewing.

I like it. We need it moneywise moneywise live T-shirt with your picture on the front pilots erupted. Number eight. How about unloading your old textbooks. College students often sell their unused books back to the campus bookstore because it's convenient but they have to accept whatever price the bookstores offering a site called books scouter compares prices offered for yearbook at 44 vendors to see who will pay the most in this is particularly helpful if your campus bookstore won't buy your book because they think it's too old book scouter might find a vendor still willing to buy interesting okay to left. Let's ligament number nine is be a thrift shop flipper. That's when you go to thrift shops, flea markets and yard sales and buy items that are undervalued and you sell them on places like eBay and then there's number 10 and it's a way to earn more money than most people avoid as long as possible. Asking your boss for a raise do that have the backup. Reason why you're asking and then all great ways to make money if you know my Rob. I like to chat after moneywise live with Rob West times for stick around you, like your life to be infused with joy. Would you like to interject in Col. dimension into even the most ordinary day on the radio says you can when you discover the treasure principle and a concise powerpack style is newly revised and updated book offers a six step plan to finding the pleasure and eternal rewards of the treasure principle what you discover. Life will never look the same treasure principle is available when you click the store, but moneywise live.org if you need investing.

You probably want help that's grounded in God's were taken by sound mind investing since 1990 minus help tens of thousands of Christians acquire wisdom and confidence in their investing experience how much you handling that you can learn will still carry out investing more information about SMI and financial wisdom for living well is available online. Sound mind investing.like your prayers answered listening hears all prayers send me something that you're simply not hearing in your life wants to address now to request because he something better is it possible that you are praying for your will to be turning intentionally place to start is your relationship with Jesus are all sinners in need of forgiveness should be our first prayer and seeking forgiveness of our sins and eternal relationship with Jesus Christ as Lord and say our relationship with God change truly accepted that invitation and prayed for Jesus to be first in your life that means and how to invite Jesus into your heart. And, yes, do you feel like your hands are tied with dad preventing you from serving God. If you have credit card debt. Christian credit counselors can help through our debt management program we can get out of credit card debt. About 80% faster while honoring your debt info. For more information on how Christian credit counselors can help visit Christian credit counselors.org Christian credit counselors.org or call 800-557-1985, 800-557-1985 moneywise. Live your host from West times more by the way today's broadcast homeland, but we have a lot of interesting calls ready and prepared for you. So please stick around. Let's begin by going to Miller he Alabama and Barbara, thanks so much for your patience.

What's happening in your life. Now I'm told I was hurting her, my dear 55 medical work really hard money and so I have to come thousand dollars in my savings which 3000 I haven't seen only about 20% will.

I'm just wondering what this little if there's anything that you would recommend that I could maybe a little bit more than the CDs I have right now yes Barbara, I'm sorry to hear about the passing of your husband appreciate so much that you want a good steward of.

That's my only concern is that, given that 3000 of that is tied up in CDs and the rest of this is all you have in the way of savings.

My concern is putting it at the risk of the market stock market where you could have the potential to earn more. Even though you're taking on more risk would mean that you need to have a time horizon of at least 7 to 10 years unless you go on the very conservative end of the investment spectrum and even then you should have a longer time horizon and that would leave you with no available emergency savings if something were to come up unexpectedly related to what could be any number of things that you don't plan on the counter come out of left field and I wouldn't want you to have to then pull out of your investments where you're trying to earn more, but there temporarily down. You're taking a loss to cover an immediate need and so I would say other than putting this in a an online savings account where you can earn maybe 2 1/4% interest with FDIC insurance and and ready access to the funds. I'm really concerned about you tying this money up longer-term and really not having anything else to fall back on that make sense yeah you have to print out online and I get about 3%.

Okay, yeah, and I realize you could you could get more by investing it, but you are increasing the risk and therefore you do have the potential that if you needed that you could take a loss. So I think you're probably right where you need to be what is your longer-term plan would you have some sort of retirement coming your way.

Once you are no longer pastoring now. I doubt okay are you able to load based on your estimates. Would you be able to live on your Social Security.

Have you done those taken a look at that very critical yeah okay very good.

Why think just taking this 10,000, and keeping it liquid for yourself. If you have the ability to say beyond that. You certainly could look at perhaps starting a Roth IRA or traditional IRA where you could get a tax deduction and have some money growing for you while you are continuing to work. That would probably be the next place I would go in without it when you're just starting out. I probably look at wealth front or betterment for those in if you'd like to get some more information on just investing in general from a godly perspective to visit our friends Barbara had sound mind investing.org okay thank you so Barbara Scarborough if you don't want it. I don't Barbara feel mind and I don't mean to pry, but as a widow and the pastor of a small church and it sounds like you've been there for quite a while. One would hope that you've established good relationships sent with brothers and sisters in Christ. There are they aware of your situation and I know as pastor that that may be a little difficult or even awkward, but I think you know the body of Christ. Other know about these things on a number of different levels.

As far as you're concerned, how do you feel about that. I got all that I would probably want them to know you so yes but would would would would you want to know if any of your parishioners are facing a similar situation that would be my question and perhaps it's somewhat rhetorical but I would hope you'd be able to share this with some post on the road because that may be part of God's plan for you.

Wish you move into your later years. Just a thought. I got that I step out of bounds and no not at all and I think you remember, it's very biblical that the church provide for the needs of the pastor and so I think to the ability of the church through God's people who are in the church. If there is a need to provide more for the pastor. So in this case there could be money set aside for the longer-term or small retirement account put in place or housing allowance or things beyond what is currently being provided for the pastor that's absolutely a part of God's plan and to the extent the church leaders know that and then the larger body within an appropriate context is made aware of those needs in the church can respond and I think that's part of what we should be doing so absolutely Steve McHenry, Illinois Ian, I want you 529 questions are. I thank you for taking my call and for everything you guys do every day and I had a question about 529 so few years ago I got divorced I did have a savings but it wasn't put into a specific job find college for my for my daughter and going through a divorce and losing most of my savings made me did put me in a position where I tried to restart again and saving my daughter is 13 now and I don't know if it makes sense for me to get a 529. At this point, knowing that she could be going to college in five years and I I've heard that they can fluctuate and I'm afraid I might.

It might be a downfall in and I you know it's not can be a long-term because it makes to invest into the 529 or just keep saving in a savings account right now. Yeah well Ian, I appreciate the question, and I actually would mean I realize that given the choice five years out this money is going to need to be invested on a more conservative basis, then let's say if she was still in elementary school at the same time. If you expect any return on this money and we certainly would over five years.

Even a modest amount. Having an inside the 529 when you know it's can be used for qualified educational expenses.

Anyway would just eliminate the drag of the taxes on the performance of the investments, albeit very conservative investments eBay be more in the fixed income and conservative equity end of the spectrum. Also keep in mind, and that if this is not to be fully funded or even if it is this money from the day she goes to college is going to have to last for four years and so if we were in a season of a downturn, you could choose to use other funds to cover the cost of the first year or two and then perhaps use the 529 on the backend. So now your time horizon is not five years but nine years, which it could provide an entirely different situation.

So I would in fact go toward the 529 savings plan of my favorite website for evaluating which plan is best for you because they're in the state of Illinois. You may want to look at the in-state 529 plan is called saving for college.com saving for college.com you can get a rating on your plan there in state and decide if it makes sense to stay home with 529 or perhaps open one in another state, which is absolutely permissible.

That makes sense in thank you, thank you very much okay. We appreciate your advice on yes sir, thanks very much Let's pause here for a brief practice with that music means when we come back late in the eyes calling from Chicago. Also, Jan from Devon Iowa and well just as quick reminder that we are not live today. This broadcast is prerecorded, but still lots of great information coming your way and were pleased to have you with us. Here's a great deal more about our money than most of us imagine Jesus is more about our use of money and possessions and about anything else, including both heaven and hell in managing God's money on the radio and breaks it all down in a simple, easy to follow format that makes it the perfect reference tool if you're interested in gaining a solid biblical understanding of money, possessions and eternity managing God's money is available in the store moneywise live.start to itch. So here is a quick way. I think this was leading me on your sound really blessed me because he you and the Holy Spirit operated differently in the Old Testament so I'm writing about writing about returning scriptures to curtail his number 29 spirit on upon empowerment, maintaining, do not take your spirit from me written numbers is not explained in John 1417 when we read no way buying a home is the largest most nerve-racking perches. Most of us ever make. It doesn't help that you're entering a maze of unfamiliar words and confusing options that can leave you intimidated frustrated and afraid you been taken advantage of navigating the mortgage made by Dale Vermillion help you clear up the confusion on rack your nerves and make the best mortgage decisions possible with confidence navigating the mortgage maze available when you click the start button moneywise live.org is less war and is now calling from Chicago, a pleasure to have you with us. Thanks for your call today very important question. Okay so graduated from undergrad my graduate program all $44 loan from I like to know what would be my best option for my loan while in grad school on a payment plan undergrad loan because I'm also pulling out loan for grad school. Yes, right. Well, I think the key is when you put your student loans into the firm and it could be a big relief, especially when you're in grad school. You're making much money because pausing those payments through deferment, you will be at the risk of defaulting through nonpayment without interest does not accrue on subsidized loans when they're in deferment. So, assuming that's the case, your balance wouldn't grow. The downside is you know you although having your student loans, deferred while in grad school can offer some financial relief. It has the potential, if you defer unsubsidized student loans that the interest will keep accruing to you know which is your scenario. Okay, so if the interest is accruing and you have the ability to pay.

That would be great because then you could go ahead and start you know eating away at these balances and you wouldn't have the interest causing the balance to continue to grow while you're in school. The question is do you have the ability tell me about your income right now and your ability to pay, especially on those unsubsidized loans, ability, but I don't money out doing plan a little toy for tomorrow and loan provider told me that amount. I'm willing to pay what anything go for my loan. I would only be for entry cumulative five dollars each day and that's going to happen regardless of those unsubsidized loan so the quicker you start paying on it, the quicker your lease covering that so the balance is an increasing have you looked at the weather yeah you could continue paying on the unsubsidized loans and then just deferring the subsidized loans only, is that the scenario you were exploring a review looking at paying the payment plan on all of the loans that so and so I called the loan provider in general about that along. Tell me which will actually be over okay and that's probably what I would look at because money is right now your having to look at every expense and I realize there's not a lot coming in your focus is on school and not work right now. I think giving you the ability to cover those unsubsidized loans and not the subsidized if they'll do that you need to check on that and see if that's possible.

I think that would be my preference. If it's all or nothing. I think the key is just making sure you're being realistic about your budget so that you don't get yourself into a situation where you have obligations beyond what you can expect reasonably and now you're having to look at repayment options and possible default and all of those kinds of things.

So given the option. I'd love for you to tackle at least the interest that's accruing now, but I would ask that question and then let's go from there.

Okay, all right. We appreciate your call today and thanks for listening to the program. Thanks, just a reminder Rob unfortunate reminder that student loans are so high across the country these days there's no easy way out.

Once you old that kind of money but bottom line, your bank account is not going to set your life pattern for you that's going to be God and is sometimes you just have to bite the bullet and pay them off. Sometimes God will make away. Sometimes there are creative ways. My own son took a five year job teaching which helped him get his masters degree for $4000 so there are some programs and plans out there but you have to be flexible and keep peppering God with your concerns and perhaps you'll come along just the right time and give you real wisdom and direction.

Keep your lifestyle asked as low as possible.

Keep your expenses down so you can really focus on paying off the payment. Let's go to Davenport, Iowa hello Jan, we help you were doing great things. Okay, I have $71 per day. I pay 10. Have a credit card and bank loan for 372 consolidation loan, my Lord, 582 and I owe 59,000 on my home and I got another lien on my contract under an ISO 19 one 19,190 my problematic. I'm 71, so they'll have not learned back to like I'm going paycheck to paycheck. Jim let me jump in here and I apologize, but we are about out of time for this segment. But if you'll stay on the line pause for a couple of messages and then will come back and review your entire situation with you.

Glad that you call. Thanks so much moneywise live with Rob last time Steve Moore back and I continue. This is a reminder that today's program is a broadcast is recorded.

Thanks so much for being with us today and will stick around and enjoy the rest. How should we as Christians think about investing. What if we could invest our money in a way that aligns with what we believe that Eventide we believe it is possible to love God and love our neighbor in the very practice of investing design investments for performance and better world so you can invest for the future with a sense of wholeness and purpose. We call this investing that makes the world rejoice. More information is available@investeventide.com Christian healthcare ministries enables believers to show love for one another by sharing each other's health costs through CHN's voluntary health cost-sharing programs members uplift each other spiritually and financially. CHN was an eligible option under the affordable care act and a Better Business Bureau accredited charity interested. Learn more by calling 800-791-6225 or online at CH ministries.more radio verse of the week for this Independence Day is found in John 834 through 36 Jesus answered them, truly, truly, I say to you everyone who practices sin is a slave to sin. Sleep does not remain in the house forever son remains for ever. So if the son sets free will be free. John 834 through 36 Moody radio verse of the week, but that didn't stop Ronald Clay from trying to rob Brinks truck in prison.

Ronald learned his father died just broke hopeless.

Ronald yielded his life to Christ and turn the radio for spiritual growth. Today he's in Moody theological seminary go is to be you have read Ronald story in this month's Free newsletter list go to my Moody radio.org money and life run on the same track.

Unfortunately, sometimes it seems like your money is heading in a different direction from your goal in never enough three keys to financial contentment.

Author Ron blue helps you to break down all your financial options to a basic floor and then shows you how to keep it all chugging along in the right direction on the same track never enough three keys to financial contentment available when you click the store button at moneywise live to work. The Supreme Court has ruled that states cannot cut religious schools and programs that send public money to private education records five before ruling with conservatives in the majority came in a dispute over a Montana scholarship program for private kindergarten through 12th grade education but also makes donors eligible for $150 in state tax credits Dr. Anthony Boucher says the US is going in the wrong direction with coronavirus cases surging in some regions putting the entire country at risk.

He says what about 40,000 new cases being reported today. He says he wouldn't be surprised if the daily count reaches 100,000 things don't improve walking walls are closing out its best quarter since 1998 with more games. The Davidow pickup 217 points, but I think I had 184, the S&P game 47. This is SR and use listening to moneywise live with Rob last time Steve Moore Davenport, Iowa hello Jan, thank you for being with us.

You should question gives the details. Please okay I have no retirement, no all-time three.

I have a very part-time job and make about their time. I don't have credit card but I do have a bank loan consolidation loan for 372. My mortgage is five to I have a lien on my house for hundred 80 and II don't have any time that I hear you run out of money every pay period. Now to get enter of budgeting.

I've been in the not a lot of stretching in my current probably over a year else for coming during my counter top, then that will just trying to figure out how to learn to back it so I'm not the end of the cake. Well Jana, I appreciate that thorough description and that's really helpful to understand your situation when it comes to budgeting is really nothing more than giving every dollar in name and here's what I mean by that you have a certain amount coming in every month. Assuming you're able to continue with your health to work full-time.

In addition to a part-time job. I realize you lot on your plate and were grateful that the Lord is giving you good health to be able to do that.

But with every dollar coming in and Social Security in your work. Your paychecks. We got allocate those we got it put a name on them and know where they're going, because apart from having a plan on paper that balances then you're just trying to do the best you can and hoping that it comes out okay at the end and really taking the time to understand on the thorough way every expense that you have and then rightsizing any spending that's unnecessary or just that you can't cover with the resources you have and eliminating expenses to the extent you can is critical because we need a budget that balances now given that you are. You do have this data about a thousand a month in the way of debt payments. Do you know roughly if you were just to continue on this current track how long it's going to take you to pay all of this debt off. If you run that scenario and out like five I and my 30 year mortgage and I lived in care in 2006 and that second was 19,000 thousand will be paid off until 2033 okay well I think that it will let me ask you this you have any equity in the house have a little I think they said that my heart okay and I have ran down to 59.

Allison like that's what I'll and I think the lack one house alone lack is probably worth more than the assessment as well with tears when I see is going to be the likely situation. I think the first thing you need to do is get some help getting that budget in place and getting a system to track the flow of money in and out. You may do very well with an envelope system for your discretionary spending.

If you're better with the computer and would rather use Excel or webpage like every dollar or envelope. You could certainly do that as well with the bottom line is you need something that works for you that sustainable that you understand and it's simple and you can get in to her routine with that. I think the key will be if you can continue to work until this consolidation loan is paid off and then will probably need to sell the property, pay off these other loans and perhaps find something that fits well within your budget. Recognizing that hopefully are continuing to save between now and then and that you would want to make your Social Security really the basis for your spending plan and will want to come up with a housing arrangement that fits into that plan, but I think for the time being.

The key right now is to make sure you get on that balance budget you get that system of tracking and let's try to focus on get that getting that consolidation loan paid off and then I think we just need to solve for the housing at that point if the Lord tarries in your health is good. You can continue to work. Hopefully that will allow you to pay off the consolidation won't even quicker and having that budget is going to make sure you eliminate any unnecessary spending.

So all your free money apart from building back up your savings is going to go to a paying off that debt. I think that's about the best scenario apart from you making your church aware of some of your needs, and perhaps letting the body of Christ step in and provide some assistance along the way but we appreciate your listening today. Check back in with us along the way and you can connect with one of those coaches at no cost@moneywiselive.org moneywise the.org Jan and work with people all across the country that are well-trained and they're looking forward to hearing from you if you so choose to.

Thank you so much. Cleveland, Ohio, Martin. We have just a couple of minutes hear what's going on. I got some credit card debt that I want to get rid of and my wife and I think about taking home equity loan that not close the account but just paid off and then we pay the bank at a lower interest rate. Is that a good idea and is doing that my credit score. Yeah Martin, I'm really not terribly concerned about the credit score, you probably wouldn't see much of an impact there, but I don't like the idea of taking unsecured debt in securing it to your home which is essentially what you're doing now. I realize on paper, it can make some sense because right now I think some of the best home-equity loan rates I'm seeing lately, and this is not a line of credit where it's very blunt talk about a fixed rate of 20 years is probably around 499.5 percent. But remember your stringing this out over 20 years. If you do that you know and you can get obviously a shorter repayment.

But the interest rate is going to be even higher, and so I just really would prefer you to buckle down on your spending evaluate your budget in detail. Look for places you can cut back if you want to try to get out from this credit card debt quicker and I would certainly encourage that place. I would turn before home-equity loan which would never be my suggestion would be a debt management program. Our friends at Christian credit counselors would love to work with you. You'll pay the debt off 80% faster. They'll help you reduce the interest rate you have one monthly payment and it does not factor into your credit score even though those accounts would have to be closed and so when those are taken out of the equation. You may see a drop in your credit but my biggest concern right now is you paying off this debt and keep in mind when people move debt to homes. Usually the credit card debt is back within three years and that would be the worst case scenario, so you'll find them online@christiancreditcounselors.org Martin, thanks for your call Rob.

Great advice more moneywise live with Rob last right after this. Do you know if you have enough money of house. Do you know how much is enough. If not, one blue can help with this book.

Master your money a step-by-step plan for experiencing financial contentment and how to save and invest and give wisely create a long-term financial plan and how to get out of debt. Find it all in master your money by Ron blue available when you click the start button moneywise to work here to help you understand God's purpose for your life to the eyes of a layman.

One lady took to heart what I said a ladies Bible study decide to become a vehicle for God. Her first act was a love letter post lady who was really friendly. Their surprise a partially confessed it was her worst day ever, because she just lost a certified letter. She was in big trouble. The short version is that post but he watched God answered the prayer of a committed Christian who was generally concerned for the lost letter was found in turn it up.

It's no surprise of this poor slave view of God and Christians is completely changed.

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Let the land produce vegetation seed bearing plants and trees on the land that bear fruit with seed in according to their various and it was so I wonder what it would've been like to watch the desolate planet suddenly softened with her exotic orchids, trees, fields of grass. All breathtakingly beautiful Disneyland in your life look like drab void of any real beauty devoid of happiness or joy because of the scars of sin and suffering. If God, through the power of his word, going forth every day. Transform this planet into something beautiful. He can certainly do the same for you. Listen to me asking for a complete makeover then open your heart to his word every day.

This is a engram lots the financial wealth you leave behind could be the best thing that ever happened to your loved ones or the worst in splitting hairs, giving your money and things to your children without ruining their lives.

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Our goal is not to help people just manage their money just get on the budget just balance the checkbook and our goal is to help people help people and Christians find true financial freedom I in the context of God's word so that you will be free to serve him when he calls thanks in advance for visiting us@moneywiselive.org, let's continue on Butler Alabama hello Randy, how can we help you sir.

Learn how your show earlier about long-term care and have been considering that my wife will be 5255 today and I'll be 54 in October, but at the cost that you are referring to possibly about $1200 a month premium on long-term healthcare insurance priestly livestock didn't imagine it was somebody that hot cleaver not gotten 401(k) into pension also. Coalition LLC that has rental property. No. Would you like a decision. I want factor of your material wealth will only self-insure. How should we spend 150,000 out of 1/2 a million sightings go toward long-held long-term health insurance. Yeah, well, keep in mind the policy you get can vary dramatically in terms of the benefits that is offerings you may want to just try to cover a portion of what the cost of long-term care might be whether or not you have riders like inflation, the type of care that's available, what the triggers are which they call the activities of daily living. How many of them before the policy kicks in and how you're paying for this it up. Ron is a tempeh is paid monthly over the rest of your life in the key is you wouldn't want to take on a policy that you didn't have a high degree of confidence you would be able to sustain in your budget because it does us no good if you take on a policy and then you have to drop it down the road before you need it. Now keep in mind the policies could be somewhere around $3000 a year, but they go up significantly. You know from there doesn't have to be something that's a complete budget buster. The factor though that is really that weighs into this I think is just the sheer number of people that end up needing long-term care in their lifetime as well over 50% of Americans will need some form of long-term care in a typically last between 18 months and three years. It's the largest risk you have financially assuming your general expenses are met, especially given the rising cost of healthcare.

I think the time to look at it. Randy is between 55 and 65. And remember, once you reach age 65 your life expectancy will increase on average to 83, 84. Now, of course, your health is going to play into that both family history as well as what you know about your own health and that would be something you'd want to look at in terms of both. It affecting the cost as well as the benefit to you, but I would say anybody who's got assets of between 300,000 and probably 3 million need to really prayerfully consider and evaluate it in your budget. If you got beyond 3 million in assets you potentially could say I'm sure I'm self-insure that point, but anything below that you really ought to take a look at this just because of the significant risk that long-term care insurance is so I think the next step for you.

Randy is to get with an insurance agent who does specialize in long-term care insurance just to begin to acquaint yourself with the various types of policies. The benefits that are available, what the cost would be. And as you begin to think about what your budget is going to look like in retirement. Given your lifestyle, as well as the income sources that you will have begin to evaluate how this would fit into that plan, and if it does I would say sometime between now and age 60 would be the time you'd want to take that out so this is a good time to begin exploring it and I'm a fan of at least seriously considering you also factor in your longevity in your life, your parents, lifestyle and longevity of people in your family. I Am a veteran thought have VA coverage. You also consider that those kind of things. VA will cover most everything they long-term and OPEC about absolutely yeah so that is absolutely a consideration, and so you would be in a category where it's not as necessary given the coverage that you will have is a veteran so I would certainly look at that as you consider this, but for the average person who doesn't have that type of care available. That's really the prime candidate for something like this. So certainly consider that and understand what will be available to you in any gaps that will be there as well. Longer-term Randy last thing is just I want to say thank you for your service were very, very grateful.

Thank you Randy God bless you. We appreciate that call an important one. An important question for lots of us Dallas, Texas Lucy, what's on your mind today. No alt. So I graded the next 12 years or longer that company BP oil for medical uses, that when I think about looking into company.

I know that I'm also going to running the company that are doing it for recreational use and so I want you to keep me advice on me and I know that probably wanted a better place by many to grow fast he cannot being 68 growing and available when I'm writing you well Lucy. I appreciate so much the question and then clearly you've indicated you want to honor the Lord with how you handle money, including your investments a couple of issues here.

Number one is now investing is not something we do with desperation or to make a quick buck.

Nothing really replaces steady plodding, which is what we see clearly articulated in the Bible, Proverbs 21 five says the plans of the diligent surely lead to advantage, but everyone who is hasty comes surely to poverty and so when we look at the Council of Scripture around investing in clearly investing is affirmed. We see it talked about a lot with Jesus and many of the parables we see it throughout the old and New Testament. So as stewards, we should be putting God's money to work and I would say in a way that's prudent we should expect a return but we should follow his principles, which include diversification in any time were in one sector or one specific product as you talked about were not diversified. So I think were violating Ecclesiastes 11 to their but beyond that we should have a long time horizon, we shouldn't try to be trying to get which rich quick which is what Proverbs 21 five is talking about. And then I think we need to look at when we're owning a company and that's what investing is.

We only very small percentage of a real company which means that as they grow and and sell were benefiting from their profits.

We have to really develop convictions around how do I want to invest God's money do I want to be a part owner of a company that perhaps is using their resources to produce things that are creating potential harm for some of the people that use it.

I realize this one is your does have a medical benefit, but as you said, there are also many people using it for recreational purposes and there is an obvious potential for great harm in using this drug and the more people who use it the more you profit from it. So I think first of all I I'm really concerned about you wanting to try to make up for lost time by speculating and I think that's what were talking about here, which would lead to you being not properly diversified and perhaps taking on more risk hopefully to achieve a greater advantage which the Bible speaks against in the second one is what companies do you want to be partnered with what companies do you want to be an owner of and what are they doing with their resources and is that something you truly can support and that lines up with your values and priorities. So I think those are some things really to think about and pray about what I like to do is send you a copy of the Austin priors book sound mind investing is the sound mind investing handbook, and I just encourage you to take 30 days really pray through that read through it and really understand the heart of God when it comes to investing before you make your decision to move forward Lucy were great question. I wish we had more time to discuss it because obviously it's on the news a lot these days and there are lots and lots of gray going on there but unfortunately were out of time, but I hope that information gives you something to chew on their thanks so much Joyce is on the line but we don't have time to get recall Rob, but she needs to pay off a lot of credit card debt. She wants to know if you should refinance debt consolidation or do a review for a reverse mortgage.

Any recommendations there yet.

Joyce, you know I'm not a fan of taking out new debt to pay old that for a couple reasons. Number one, we typically lengthen the repayment. Even though the interest rate is reduced. We stretch it out. We can end up paying the same or more in interest, number two, it tends to take the pressure off.

And so we don't correct the problem. We correct the symptom of the problem. Therefore, in most cases, more than 50% of the time within three years will have the new consolidation loan and the credit card debt will come back because we didn't solve the real problem which in most cases overspending without a budget so I would say get on a budget.

Don't take out a new loan. I wouldn't do of a reverse mortgage just because of the cost associated with it.

I'd rather look at other options like selling and downsizing and reducing spending and then finally I would look at a debt management program and our friends. A Christian credit.org would be delighted to come alongside you. Pray with you, hope you do a budget and explain thoroughly how a debt management program can help you pay this debt off a lot quicker with a lot less interest in the best way to reach them.

Rob Christian credit.org Christian credit.org Rob West was some great advice and we appreciate your listening and your great phone calls today. Moneywise was a partnership between Moody radio and money my money wise media around West times more hope you'll come back and join us again next