Money is a Power Tool

People like to say that money doesn't matter, because it can't buy love or happiness while it certainly true, but there is no denying that money is still pretty because it affects almost every aspect of our life. Money has no moral good or bad it simply to plan ahead that getting things done. Might even call it a power tool first of the day will get the operating instructions from Kingdom advisors Pres. Rob West. This program is prerecorded later will be taking some calls that were lined up ahead of time so please don't you call him don't go away. More in this is money wisely so Rob when people say that money is not mentioned maybe what they really think is that it's not important to God. So we know that that is. Or maybe isn't true. Well Steve, I would say for starters the more than 2000 verses in the Bible that deal with money or possessions that God doesn't need money because he owns everything, but it's important to him because he uses it to influence our lives and shape our character you you called money a power tool. Well it can have a powerful way of focusing our attention on him and not ourselves.

If we understand this is critical. We are only stewards, not owners.

For example, we like to say that we trust God. But when it comes to money. Lots of folks have serious trust issues as the God uses money or perhaps circumstances that involve money to strengthen our trust in him through our finances got often shows that he's in control.

That's how we learn to trust him to provide and how we learn to accept our role as stewards of the resources he gives us the alternative to that is to trust in ourselves or in money, which the Bible never tells us to do. Let's go to Proverbs 11 I think it's clear here, but those who trust in their riches will fall, but the righteous will thrive like a green leaf in Psalm 20 we see some trust in chariots and some in horses, but we trust in the name of the Lord our God is the Bible is filled with verses that show God is always faithful to provide attorney well said God always provides for our needs but sometimes he provides a lot more than what we need and then of course are other times when it seems like he's not providing enough or maybe not even there, hearing us, so what's going on.

When that happens. Well perhaps they were confusing needs with once God normally provides faithfully all that we need. He also determines what we need, but he does not prove her promise to provide for our wants. God also uses the availability of money to set a path for our lives.

He open some pathways through the abundance of money and he blocks other paths by withholding it if you're frustrated because a particular path is consistently blocked, you might be dealing with a want you want to go down a certain path, but God isn't providing the money to do it. Okay so time to pray and try another path will probably so when you pray about where God might be leading you meditate on Matthew 633 you know it well.

Seek first his kingdom and his righteousness, and then all these things will be given to you as well. I do know that verse. Well it's the very first verse I ever memorized interest is really yes I know you mentioned that God sometimes provides an abundance of the times withholds an abundance of resources at all know what else does that teach us to think well let's start with the abundance first, God wants us to enjoy the resources he gives us a receipt lived clearly in Ecclesiastes 2 there is nothing better for person than that he should eat and drink and find enjoyment in his toil. This also. I saw this from the hand of God, but that doesn't mean you're supposed to use the resources God gives you to live an extravagant indulgent lifestyle. Rather, he gives an extra measure to some, so they're able to help others less fortunate. So there. God is using money to teach us to share in his blessings. By giving to the poor. The abundance of some believers supplies the needs of others. Now the other side of the of that is about having a need here. You might have to swallow your pride and let others in your church family know about God may be using your need to teach someone else to be generous.

I think a good diversity to some all that up as Ecclesiastes 714, it says in the day of prosperity be joyful in the day of adversity, consider God has made the one as well as the other so that man may not find out anything that will be after him, which means don't worry about the future and be joyful in what ever measure God gives you today.

Remember, the apostle Paul taught us to be content, whether we have plenty or were in need and ultimately need to place our trust in him each day will take care of itself. Some offer that up to God and obviously we all need some help in this area listening to moneywise live with Rob West. Many people adopt an attitude toward marriage and finances.

Then it will all work out somehow.

But sadly, it often doesn't financial woes can devastate a marriage but there is a better way.

God's way, money and marriage God's way by Howard Dean will help you discover God's approach to growing your finances and strengthening your relationship with your mate and cultivating godly joy, money, and marriage God's way is available and 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. SMI has helped tens of thousands of Christian supplier wisdom and confidence in their investing experience how much you have going 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.1 of the common areas in our office has some beautiful flowers in a vase every day, they change color and type. Throughout the year. But one day last winter I finally slowed down long enough to smell those beauties.

There was no smell and it turned out, does he think you know flowers can look so real, but have no life, just like so many folks who look like they really belong to Jesus Christ like their Jesus describe people who would come before him on judgment day with lots of Christian credentials. He says that he will tell them that he never knew that. That's why the Bible says we examine yourself to see whether you are in the faith. The time to realize that you don't really know him is now you can avoid being turned away by acknowledging what Jesus did on the cross for you being real honest about your sin and wanting Jesus to take over your life is your Savior in your heart.

We love to help you get started. Call us at 8884. Check with us and chat about Jesus.com that is robbing you of freedom and peace of mind. Christian credit counselors can help where a nationwide nonprofit counseling organization has helped over 3000 individuals in the last 27 years get out of credit card debt percent faster while honoring that that info to learn how Christian credit counselors can help you visit Christian credit counselors.org Christian credit counselors.org or call 800-5571 98555 W. please remember that today's broadcast is recorded. Don't try to call in. We have some interesting callers all lined up. Let's begin.

Burlington, Iowa hello Ralph, how can we help you sir are you doing well. You talk about credit history.my wife and I we had done a real good job. We had money in the bank. We had a nice savings.

I have a nice job. She has a secondary job supporting the home and met up with a very unfortunate accident. I waited stage IV cancer. I have fought through this lost her job, got a job lost her job, got a job and now I'm settled into a reasonable job but I can still work with stage IV cancer. As I go through yet. It's not enough to make ends meet. Like I had been before. I'm probably five or $600 a month shy of where I was his. I've been making primary payments like my insurer like no house payments and stuff like that all being paid. Credit cards are what are suffering. So my question is, as I start getting a little bit caught up on some of the other thing to start making payments and ways to rebuild my credit with the knowledge that this was a anything I really had control of this was just surprised you have stage IV cancer, I may I may be around another six months to year. I may be around number 10.

Well Ralph, I appreciate your call. I'm sorry to hear about your health challenges, but we know the great physician and so I'd love to finish today by praying for you and ask her moneywise live community to do the same. Yet, with regard to the financial situation. This didn't catch God by surprise either. And he is your provider and so were to just trust that he will bring the provision, as he has. Along the way. I realize that this is a difficult situation from a financial standpoint and it can be somewhat overwhelming at times, especially when you see the bills piling up and you're not able to pay them because there's just not enough to go around so I would be communicating regularly with your creditors. As to the situation and what caused it, and let them know that your intention is to pay you're doing everything you can to do that. Obviously, this needs to start with the family budget to see where you can cut back Ralph in any areas to try to free up additional resources to cover your bills and close that gap of 5 to 600 a month. I'm glad to hear that you did keep the major assets paid including your home in current obviously read the want to add a situation like that. Something like a foreclosure, to the difficulty and we recognize that with credit cards. There could be a judgment filed and that's certainly not something anybody wants to go through but you can only do what you can do and obviously your desire here is not to skirt these obligations. It's to find a way to accommodate them. So I would just say that as you have the ability you to pay, then that would be the ideal situation. Our friends at Christian credit counselors may be able to help with that.

You'll find them on the web. Christian credit counselors.org but again, you can only do what you can do with regard to the money that's available in terms of getting this resolved. With regard to the credit report. I realize you wanted a good credit history and you want to good credit score, but you that's probably not as important at this point as just getting on a more solid financial footing, you're probably not going to be able to have this information removed because even though there was a difficult circumstance surrounding it. It is in fact the way that it went down over time as this gets further and further in the past, especially if you're able to get current through the additional provision down the road it'll have about the lesser and lesser impact on your credit score and ultimately if you can get these paid off and there noted, is paid in full.

That would be a good thing as well so I think at this point the key is, let's just focus on you doing what you need to do for your health and for your family. Let's be grateful that the Lord has allowed you to continue to work even in the midst of this, let's do what you need to do on the budget side to try to reduce expenses were possible. See if Christian credit counselors can help you navigate this with regard to communication with the lenders but with regard to the credit report itself. Don't think at this point is really anything you can do to get a quote and quote cleaned up other than just trying to get these debts paid off in the last thing I would mention is just likely do justice and encourage you let your church family know about your financial situation of the Lord certainly has money to take care of all of this, it just may not be in your hands and one of the ways he provides is not only through our employers, but through God's people there maybe will somebody willing to step in here the church itself or somebody in the body of Christ that could be of help to you.

If the need is known and so I realize that can be difficult and sometimes we just don't want to be that transparent. We don't want to feel like were asking for something and yet that's what were here for in the body of Christ to support one another during a difficult. So, I realize that through a lot out you there and I don't have a silver bullet for you. But was that helpful to you. I have pretty much settled out on a budget and stuff and paying what I can pay it used to be. I was paying enough that I was paying my minimum payment plus it again so making double payment so they can see what was going on and they have all been contacted and told that I lost my job back on another job in making a whole lot less. However, I'm getting up or I can be all my other stuff is paid so that looks positive on my credit like he is doing something so I'm just kind of working there. Well, okay.

Stage IV cancer means remarkably around for long. I may be around for another five years. The interesting thing is this is not affected my wife's credit so when I do go home to meet the Lord. Her credit is good.

I'm just trying to fight to keep things going for and God's people have been a blessing. I am one of those people. I've been helping and let's just say I giggle try to give away more than I can. And God is God keeps replacing itself ago. Thank you. Hello.

So, really, truly that's not ever going to fix my credit probably however they can see that I'm not I'm not doing this on purpose is my big thing.

I'm kinda conscientious stuff like that I can.

I can certainly appreciate that roughly pray for you as we close out today and father.

We just lift Ralph up to you today. Lord, we know that you know every cell in his body. You are his creator, and glory, just as is the great physician that you would intervene here. Perhaps you would do something miraculous that only you can do and that that would be a testimony for those looking on Lord however you choose to proceed here. We know that he's in your hands.

We tell you today. We trust you, we asked you give the doctors wisdom to be with his wife and his family and in the midst of a challenging situation and Lord, we just look forward to seeing how you're going to walk with him to draw him unto yourself during this valley and that you would teach him and those watching whatever it is you would have us to know. As a result of this illness, Lord, and we just think in advance for what you're going to do.

We ask this in the matchless name of Jesus. Amen thank you, Ralph.

It's not a coincidence that you were able to get through today. So I believe God's people have heard you and Ella are praying for you as well and we wish you the very best stay in touch. Rob I like your recommendation that you share this with this church. And that's with the body of Christ is pouring all about. Not everybody will be able to respond, but some people might you just can't leave God out of the equation when it comes to the local church. That's why some of us so please remember to pray for Ralph you're listening to moneywise live with Rob West. Do you know if you have enough 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. Learn how to save and invest and give wisely to 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 live outdoor concert to a still life here is to live according to the simple nature have their minds set on what that simple nature desires the spirit living in accordance with the spirit involve the mind set. You can think with them less we be balling well. We can mind set when we can think, according to the naming reach really block anything we catch ourselves in thinking and rethinking something on meditation and meditating carnality how critical we feel toward semi-semi last week catch ourselves in the flanks being what we want to know Jesus Christ.

Your life always is worth 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 and managing God's money on the Randy Elmore 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.org moneywise live straight. I'm more, he's Rob West and let's take similar calls West Palm Beach, Florida.

Flores how can we help you hello I great I am I having no unfortunately I got the career that I like making left and I should be making now. Every year I've been able to get it. The payment zero dollars but I got the lack euro dollar I can get it down your Valley trying to figure out what it think you without without it affecting my credit. Sure in these are federal loans for reasons the right yet okay well there's a number of repayment options including deferment options, which is what you been doing available through the federal program where you will be making progress toward paying down the loan, but you may be able to defer the amount and often times the interest is added to your principal balance on the backend and there's a number of deferment options out there for economic hardship for a graduate fellowship that might be military service, the other can even be unemployment deferment as well. And so that's what I would look into just to see what your options are. Given that this is a federal loan.

Your best place to go to explore that. If you haven't already. Is student loans.gov student loans.GOP that's the US Department of Education website where they provide information about federal student aid and you'll read about the various options there. But if you've exhausted all of those options to continue to move this forward, you're going to have to go back to them and say okay what options do I have now obviously you want to try to keep this current you don't want to get in the situation where you are in arrears because of is that this is a government loan and we need to cover obligations, but this is certainly not one you want to let get behind the other is loan rehabilitation options and so forth. If you were to get behind. But have you asked them or explored what options you have now that you've already exhausted. Some of these will probably all option well. The consolidation option is to put multiple loans together give you an interest rate equivalent to the aggregate and preserve the repayment options, but I think the key you have here is that you been getting the 0% alternatives. Those that sounds like are gone and so at this point what you're gonna be looking for is can you defer the payments on it even though the interest is going to be accruing interest can be added to the principal on the backend of the loan and that's not going to affect your credit score because it's not due. If you get the deferment now if your score dropped after loan came out of deferment it.

It's likely that something negative is happen such as a missed payment or a high credit card account utilization or something like that. But if your loan is in good standing and you're getting a deferment, even if the interest is setting on the backend.

At least that's good to keep it on the current status. I think the goal for you is what can you do to pursue some income that would allow you to begin to start making some progress toward paying this back and I realize you want to do that, more so than even I do, but I'm just putting the obvious out there that we need to try to get into paying this back but while you're in a situation where you don't have the ability to do that, your next best alternative is to defer while the interest is accruing that makes sense.

Flores okay thanks for calling that we appreciate Less. Let's stay in Florida and speak to Jean who has some that she's trying to work through run very good Junior on moneywise live. How can we help got about seven to $8000. I have credit card. Around like $1600 an hour like Carlin.

That's around $6000 was wondering should I pay off my call. Take that money and pay some of my credit card debt yeah see got 17,000 as a settlement. What did that come from it what was in a car accident and the case with Mark okay. All right. And are you working currently.

Okay.

Great. Well, you know, my priority would be. Obviously the credit card debt. First, I'd love for you to go ahead and wipe that out. How much do you owe did you say on credit cards. About $7.07 thousand in charge of paying the one I fiddled at Phillips with thousand okay and then the city Knesset Munich at 1099 for my not really sure how it can affect Mike.click here saying there just the understand that is that the difference between what you owed and what you will actually pay is the amount that they're going to forgive is a part of the settlement that's treated as taxable income to you so you just need to make sure you set aside out of this settlement enough so that when the difference in this case, the difference is sounds like $5000. If you 07 you're going to pay to you have to add 5000 year taxable income, so I'd put away at least 20% of that. So you're ready to make that payment to the government to the IRS and so that doesn't catch you by surprise.

The good news as long as you get that in writing. You can pay these amounts off it will be noted that you're settled in full. And that's going to take 2000. Out of the 17 if you can go and pay off the car loan for another five and still have roughly 10,000.

I'd put that in your emergency fund and then I'd really focus in on your budget. At that point Jean to make sure that you have a good plan for what's coming in and going out and you know that you're really managing your funds properly. So we don't ever see anymore credit card debt coming back and that's really meaning that you gotta have a system in place to control the flow of funds in and out. I think if you do that you'll feel a lot better knowing these loans are paid off. You ready for the additional taxes and you got the money in your emergency fund. Just use an emergency fund for emergency eliciting to moneywise live with Rob West. Remember that and will be, 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 redesign investments for performance and a 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 Moody 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. The sun remains forever.

So if the sun sets and free will be free. John 834 through 36 Moody radio verse of the week. Touch the stones of the Western Wall hear the waves of the Mediterranean smell the spices of Jerusalem takes the cuisine Middle East.

See the land where Jesus, I am Charlie nine John King. We're inviting you to travel with the land of the book radio team to Israel October 13-24, 2020 the details when you click on the link in the land, M.S the land and the title money and life run on the same track.

Unfortunately, sometimes it seems like your money is heading in a different direction from your goal, and 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 outdoor runs on the number of confirmed rotavirus cases in the US climbed to a new hire more than 50,000 per day on Thursday. The US recorded 50,700 new cases that's according to what delicate by Johns Hopkins University all but 10 US states are showing an increase of confirmed cases over the last 14 days, that's a according to the data compiled by the coded tracking project.

The Supreme Court is turned away please and will not hear cases from pro-life activists to make it easier for them to protest outside abortion clinics is comes just days after Justices struck down a Louisiana law regulating the abortion clinics, socks, closing higher today Vidal gained 92 points. The NASDAQ was 53 points higher. The S&P picked up 14. This is SR news life Rob West this time. Best also questions on anything financial. Obviously our go to resource is God's will. The Bible, let's move along here Winter Haven, Florida hello Kim what's on your mind today after 9 o'clock. I have my 401(k) primate employer.

I let my thinking and ultimately hitting the care station. I don't know what that I think the bill do I have to you know that the Roth IRA should the what I should do because I'm turning PP in few months from now. So yeah well guy Kim is a great question.

Ask anytime you separate from an employer, a couple of options. I wouldn't leave it there. You certainly can do that but that's not my preferred option because often times the fees increase just a bit, which will put an additional drag on the returns and I'd rather you just simplify things by consolidating it in one place, either by rolling it out to a traditional IRA, not a Roth but a traditional IRA which is not going to create a taxable event is just gonna move it from the ire of the 401(k) to an IRA and then you would have to determine how you want invested or you could roll it into your new 401(k). Assuming you have a new 401(k) with your new employer. Have you explore that option, your employer, I have right now. They have 401(k) when Roth 401(k) is okay right option for me to do that. I like that I have yeah I like that option, Kim, and often times you can have both, so you can have both a traditional ire of choosing a traditional 401(k) and a traditional Roth and you can determine how you want the money allocated.

The nice thing about the 401(k) Roth is that that money is going to grow tax-free so that when you pull it out in retirement. You won't be paying any tax on it and you'll have these two buckets you'll have the money that was in your traditional 401(k) that's now either to go to a traditional 401(k) at your new employer or an IRA and that money will be available.

You will pay tax as you pull it out, but likely to be in a lower tax bracket unless the rates increase significantly and we certainly don't know what's can happen there, but often times when you're no longer working in your in retirement.

You're in a lower bracket. All things being equal, so you have the option to pull some funds from that and then you also have these funds that you're putting in your Roth 401(k) that will be building so if you did move it to the new employer, you would want to see about moving it to a traditional 401(k) that you would have alongside the Roth option. You have both and then you choose your investment options there. If you don't do that then I would open a traditional IRA at another institution. If you have a relationship with somebody you could do it there if you don't, you could go to Charles Schwab or you could go to betterment you could go to wealth front and open an account, roll it in and then you could begin investing it that way and you could do it in a in a fashion that's very low cost where you have a good broad diversified portfolio that I like the idea of you having both of these and I certainly don't have any problem with you contributing to the Roth 401(k) moving forward with new money that's being differed from your salary.

Does that make sense to you, a lot more and I'm going to somehow I feel like how the private slob IRA.

I've been going back under him because I'm not very good in you know will be on my cell yeah well in either option you would have a choice for them to do it for you. In the case of the 401(k) you would have a very limited number of investment options and there's probably somebody either at the company or at the plan administrator that could give you some counsel and help you make those selections based on your age and goals and risk tolerance. In the case of rolling out to an IRA.

If you use something like the Schwab intelligent portfolios. Essentially they would get to know you through a question and answer process a portfolio would be built for you and then it would be automatically invested and reinvested as you get dividends in and rebalanced over time. It's a very low cost, very effective and efficient way to invest in it really doesn't require you to have any investing expertise. That's really where the other. The beauty of the intelligence of the portfolios come in so that would be a great option for you and you could just contact your previous plan administrator let them know that you need the paperwork to roll it over, and once you have that account open at Schwab. You could roll it right in. Kim sounds like you're making good progress. We are glad that you called today. Thanks very much from Florida up north to Concord, New Hampshire, Susan, you're on with Rob West how tired where not ready meet at her house or very near. We don't have the markets on we don't have anything that we haven't been able to afford all these years to really do need things like you have to keep in shape. I you sure it's pretty run down. I think it in the shape that it clearly is not very well, so I'm wondering I returned to working recently on more ethical time schedule and saving the money to him and IRA annually. Wondering if we should look at how as part of our retirement plan and instead of paying that money into the IRA actually start using it while I still cannot make any improvement that one house it's not now. I think it'll be worth the seller in condition. It would be ex-cop without going crazy yeah well I like the way you're thinking Susan I think it's probably a both and in the sense that yes your home, assuming it's paid off is a part of the assets that you will have available to you.

So long as you sell it and take the funds the proceeds and you certainly want to try to maximize the selling price into your point. Some of these maintenance items and repairs are going to be a part of maximizing the value of the asset when it sold, but you'd that assumes that your to sell it and not put the money into another piece of property, but you're gonna perhaps downsized by something else for cash and then you'll have a certain sum of money that's left over going negative to that is it's going to be in a taxable account, so if you weren't if you were to try to invest that money and generate an income from it.

It's going to be all taxable along the way, which is gonna put a drag on the investment returns but you are correct. It's a part of the equation so I think we need to try to do both in the sense that recognize that while you still have your health, you're still working. Let's get as much as we can. Going into qualified accounts, meaning tax-deferred accounts that are retirement in nature and take a part of the money that you have coming in. The cash will you have, whether it's through just doing it a little bit of the time, or borrowing a sum of money and then knowing that you have a goal to pay it back. By the time you fully retire so that you can do the improvements you need not worry are going crazy and you know trying to improve it beyond what's needed. But where you're really thoughtful about what we need to do to maintain the property. Enjoy it but also really helped to do the things to maximize the value of the property. When we sell it. If you do both of those things except the property a little bit and then get some additional money going toward retirement in a tax-deferred account. All of that together all of those assets, and accounts are going to make up what you have available in retirement. Last thing I would say is do some retirement planning sit with a Christian financial advisor who can really help you make some projections on where you are listening to moneywise live with Rob West and will. Do you know if you have enough 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.

Learn how to save, 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 live to work where I'm a car guy here to help you understand the urgency and how fun it is to share your faith in every opportunity.

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When you show genuine concern for people and quarter Scripture offer to pray for them will relate a similar experience or brought you closer to God the Holy Spirit will use your words to minister to them every time you when they don't show it. There's nothing more fun than moving someone closer to God. Join us at ignite America 23 years ago 119-day-old baby was abducted from a New York hospital that baby grew to adulthood while growing up. She was where she really belong. She became curious one day viewing pictures and a missing persons website Carlino like recognize the photo was. She contacted the mother posted a photograph. DNA tests confirmed their relationship Carlino and her biological mother had been every year millions of people around the world draw similar since the life they'd been living one felt something pointing to the Bible is God's invitation were born to belong in his family.

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Just visit moneywise live.org, click the donate tab and again thank you very much in advance. Now we go to Clinton, Iowa hi Josh how are you today sir well help us well. I have a 401(k) from a previous employer and wondering what to do. It my current employer offers a FTP that I believe you. I'm wondering what 401(k) and to be very good yeah I just given that you don't have a new 401(k) with your new employer.

I'd roll that 401(k) out to a traditional IRA. So if you have a relationship with an investment institution you could open traditional IRA there if you don't have one already and then you contact the plan administrator 401(k), tell them you want to do a rollover to an IRA. They'll give you the surrender paperwork and then that money will go directly from that institution to the custodian of your IRA will be deposited in the form of cash and then at that point you'll have to decide how to invest it so that would be the way to go and then you would start contributing to your new retirement account with your current employer. Do you have a sense of how you want to invest that money.

Is that something you're comfortable with her.

Would you be looking for more of an automated solution. Give me a sense of what you're thinking. Is there I don't know what is the balance 401(k). What's the balance in that old 401(k) with the previous employer only about 10,000. Okay so I would look at a couple of things number one you could go to sound mind investing.org and they have some mutual funds that are part of their program with a wonderful newsletter with great godly advice on managing money that you could choose many of them are no transaction fee and no load meaning no commissions involved and you could invest that way.

The other option is what has become more popular in the last couple years and that's through these Robo advisors were basically you answer a series of questions. They build a low cost very properly diversified portfolio using exchange traded funds, which by indexes that mirror certain indexes across the US in the global markets with both stocks and bonds and that it basically through the intelligence of the system. The money would be invested for you automatically based on again your objectives and goals and that you could do that with wealth front, you could do that with betterment you could do that with Schwab intelligent portfolios.

All of those are very similar very high quality and and quite effective with something like this where you have smaller amount of money you want it invested actively according to your goals and objectives. But you don't want to have to be the one making the decisions on which stocker which mutual fund pick. That's where these really shine so those would be the steps that I would follow, rolling it out and then deploying it through one of those three services okay thanks for going – we appreciate thank you Josh, Rob, Robo advisors, that something that seems to be coming up more and more these days wondering about pros and cons do you effort. Talk to a person or are you always interfacing with the computer in some way. Well, they have great websites and so they make it very simple and easy to interact with it through a smart phone app or website but they also have customer service.

So, depending on the level of service you choose, and many of them have different tiers of support. You can either do it yourself through the automated solution which is very effective. Or you can pay a little bit more to have access to somebody as an advisor.

Perhaps somebody was even a certified financial planner and know what folks are finding is that through these exchange traded funds. They can basically own the market, so to speak, and what that means is own pieces of the market in domestic investments in international as well as stocks and bonds where it's rebalanced automatically as you receive income you can get started with a very small amounts of in some cases as little as you don't thousand dollars and it's very low cost. And so it's just a very efficient way to invest for somebody who's comfortable with that style of investing typically not used with those who have significant investable assets. I would say more than I $250,000.

Although many people do use them but that's not where you see the most common. You would typically find them with those who are getting started or have less amount to invest are they easy to compare because in the past you've mentioned a three or four that you found that you're comfortable with are the easy to compare, as far as returns are concerned.

You know it. It really depends because there investing in indexes Steve there really you're just owning the market and so in terms of how these portfolios are allocated. They all have different methodologies and algorithms that ultimately build these portfolios but at the end of the day what you're saying is with a passive form of investment you're saying I don't want to try to outpace the market.

I just comfortable doing what the market does.

And I want to make sure properly diversified with the investments that have now with the finer points of breaking them down in terms of fees and expenses and the website functionality and all that. Absolutely you can compare them pretty effectively. But of course you know it's a little impersonal and I'm thinking I in I'm I'm just thinking a fire out of you probably don't get your Christmas card right like you will not. You never know it.

It did may come by email.

You may in fact get a Christmas card.

I would like to set pros and cons of just the person you. I'm a softy about Miami, Florida. Marie how you doing today and how can we help how incredible program. We really appreciate all that we lack think you were kind, so I am 55 years old and I have an employer's 3D I retirement kind and with the last major crash.

I lost a lot of money in Tronic and most all of my money went with black to a guarantee cooled to and down recently when I was looking at it I realized the 10 years left to retirement and only hundred and $10,000 in the air. I really don't know what scaling playing around with increasing the contributions, or putting it in stock right now I'm contributing 10% with a 1% increase each year on which I can change this last year and that by increasing the contributions, or putting it in stock. I'm not seeing a lot more money being added over the next 10 years. I'm really at a loss on what to do. Yes okay well I think the key has to start Maria out with what are you trying to accomplish and that really is a function of what your needs are in retirement when it comes to long-term money. The goal is not to beat the market. The goal is not to be able to outperform the market in any given time. The goal is to take as little risk as possible to achieve a necessary return so that as you are diligent in keeping her lifestyle at a minimum and saving over time in accounts that can be invested that that money can grow leveraging the power of compounding so that when you retire. Those savings accounts combined with any other income sources you have which might be a pension or Social Security or any other types of income sources altogether could cover your expenses. Have you done some of that planning Maria to say okay when I reach that point given that you know recognizing there's many unknowns out. But when is the Lord going to come back. We certainly don't know that number to you know what is your health can be like but just given that you would have the ability to continue to work as long as you want to have you thought about how long you might want to work and what your needs might be in retirement so that we could begin to determine what your savings goal is. I have not done a plan like that. I would like to learn that job. I earn about 80 grand a year and I hope to continue until retirement. As much as I possibly can. Not a physical job so I think I might be able to again blackmailing cell. I'm really not sure that lying right now I'm kind of nervous because I seen how much we have to paint. I don't want it reached 10 years from now I find myself on working at you now right rights when I think that would really help give you some peace of mind. So at least you know what you're shooting for. Because if you don't have a plan. We don't know what were aiming for. And so then you're always just feeling perhaps like, well, probably behind because I don't know and I'm just assuming I don't have enough and then that's just constantly weighing on you, so I'm I would recommend Maria that you visit with a certified kingdom advisor there in the Miami area. This is somebody you can pay just for their time, perhaps one or two meetings where you'd sit down and actually begin to build this out and say okay what are the income sources today. What is the lifestyle look like today which is good to begin with. What is your budget. What will that budget look like in retirement. How many more years to we have what you have the ability to save between now and then and then finally, where's the best place to invest that money over the next 10 or 15 years while you're still working.

The key is going back to what you said earlier, we don't want to get a situation where were reacting emotionally to the market because were either invested ineffectively because we were taking too much risk or we just pull out of the market because we see it, take a downturn and then we don't get back in and we miss out on the real compounding potential of the stock market and that really comes from you, having a trusted professional who can help you make those decisions.

So you're not reacting emotionally. So let me just recommend you start by going our website moneywise live.org look for certified kingdom advisor in your area and do some retirement planning that's good ally to come out of that with a real plan that your bought into you understand and then from that point you can really begin to do your saving and do your investing, but you'll know why you're doing it and what you're ultimately shooting for.

If you have any questions after you do that give us a call.

Thanks so much and we are out of time with that moneywise live is indeed a partnership between Moody radio and moneywise media I thanks to Rob last times more please come back and join us again next