The Budget

Are you one of those right brained people more creative than logical, not good with numbers so you don't like the budget, the spending would just three numbers 50, 30 and 25 for living paycheck to paycheck Pfizer's president from West walk-through through the simple spending plan falls at 800-525-7000 805 five 7000 more 5030 20 budget next right here on moneywise to Rob Reisinger knows about this kind of budget for quite a while now, but I don't think we've actually covered it ourselves for this program. How would you describe well, I'd call it Steve, the beginner's budget because it's frankly very simple. In fact, it's not unlike the simple jars system.

You might use to teach small children about managing money. But just because it's easy doesn't mean it's not effective if you follow the 5030 20 budgeting rule you'll definitely get your finances on track okay great so well what what is the 15th of the 30 and the 2012 there simply the percentages of your after-tax income that you put into three categories of the spending plan means wants and savings for debt repayment. Okay. Sounds simple enough but how exactly then do you determine your after-tax income is it is that the total of your paychecks each month.

I'm not precisely it will probably be a number higher than that because most people have nontax deductions taken from their check could be health insurance premiums made retirement contributions, you have to add back in everything that isn't income or payroll taxes which are Social Security and Medicare deductions that gives you the number you have to work with for your three categories okay so in in in some way. That's kind of your net spendable onset was, that is right easy way of saying okay, then what goes into our three categories. At that point, needs, wants, and saving or maybe paying back debt well obviously needs of the things you absolutely must pay each month. They would include rent or mortgage, car payments, groceries, gasoline utilities, health insurance, you'll need a minimum amount for clothing in their courses well. All of those can add up to no more than 50% of your budget in your wants category are things you like to have, but aren't essential for living. These might include eating out cable gym membership, subscriptions, and yes even vacations steer strictly speaking, Steve. If it doesn't keep you housed helpfully healthy fed mobile and warm or cool as needed probably falls in the one category, not a need those things can't be more than 30% of your budget and then finally have 20% left over for your emergency fund in retirement investments and/or paying down debt, but that last item paying down debt gets a bit tricky.

Why is that well because a portion of the money used to pay down debt actually falls into the needs category.

For example, the minimum payments on credit cards auto and student loans. You have to pay those minimum so that amount actually goes in the needs column, but any extra payment you make to pay down your debt faster than required would come out of that last 20% of your budget extra payments applied to the principal of your mortgage would go into that category as well.

Now if you don't already have 3 to 6 months living expenses in your emergency fund. We talk about this often. You should split that last 20%, with half going into short-term savings and the rest applied is extra on your debt. And, of course, once your debts paid off. You can put that whole 20% into savings. Okay, good.

Sounds simple enough but is there any disadvantage to this 5030 20 budget. Well, I think that once you've mastered it. You'll probably find that you want to track your spending more closely and to do that you have to divide up the three categories in the smaller ones. But as we said it's a good beginner's budget okay and I see that but what I feel like there's something missing something here. Yeah well because you're absolutely right. There's something very big missing the 5030 20 budget is a great plan, but not for believers, what he mean by that.

Well, as Christians, we have to modified a bit at first because 30% for wants as well, in my view, perhaps too much and not necessarily good stewardship of the resources the Lord is given us second because we need a giving category and I would say let's use 10% as a starting place. So to put on moneywise stamp of approval on it. I guess it would have to be more like a 5020 2010 budget and actually you could call it the 1015 2020. Because giving to the Lordship always come first. I was getting a little heavy number wise here more as a number 800-525-7000 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 out of work. Our friends and sound mind investing have been helping Christians reach their financial goals since 1990 with step-by-step guidance for investors. Just getting started making choices in a 401(k) or getting ready for retirement all grounded in consular SMI slogan is financial wisdom for living well. More information is available online.

Sound mind investing the SMI website also includes articles, and money management and investing sound mind investing.org and no moment here's go down hundred days since Jason was found saturated drugs with a prostitute running the business he owns, and had regular stay clean. Huge challenge and without Christ is probably possible. But what can I do to help my friend say folk are you or someone close to you in such a battle. Galatians 513 had one key to success for your call to freedom brethren don't turn your freedom into an opportunity for the flesh. Love serve one another. So Jason is now helping another man is only been off drugs.

About a week hello out there reach out to someone, someone else today. It will help you and help them or some real help in reaching out to your friends fill eternal impact information on all the resources of America go to donor.org. And if that is rotting you will, 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 80% faster while honoring that data and phone to learn how Christian credit counselors can help you visit Christian credit counselors.org Christian credit counselors.org or call 800-557-1985 two moneywise live with you last time Steve Moore this is camp out every day in God's word. Try to understand what God is telling us and teaching us about our money our finances. What we manage as stewards ourselves and if we can help you in that regard. Today, we'd love to, because we have some open lines we have for five open lines, so now's a great time to call with your question.

Your comments, recipes, whatever. 800-5257 not taken recipes side recipes. Not 800-525-7000 just to put a bow on this year we've been talking about the this concept of three or a four category budget and at the end, Robbie suggested a 1050 2020 the 10th of course being where we start with a getting right yeah exactly right. You know I think this is an idea that's gained some traction. You may see it out there and secular financial media, blogs, and so we wanted to cover it and it is a simple way to get started, as we lump these three big ideas into three big categories, needs, wants, and then savings or debt repayment, but it's clearly as believers we should be generous, we should be active givers. Giving cheerfully and proportionately as God entrusted his resources to us and we should do it off the first and the best so this idea of starting with and this is not telling you how to give you between you and the Lord, but the ideas starting with 10 as a minimum for giving and then breaking the rest up 54 needs 20 for wants 24 savings and debt repayment can be a nice simple way to get started or if you have a budget perhaps run your current budget through the lens of this 1050 2020, just to see where you stand. It might be an eye-opening experience that might cause you to make some changes okay and if you didn't get all the information we talked about for the last five or six minutes. Maybe you've been driving. I had to keep your eyes on the road to keep your eyes peeled. Drive safe and all that information about what we just discussed will be in today's show notes and if you give us an hour after the program that material will start to show up in the notes.

When you visit our website moneywise live.org I just scroll to the bottom and look for archived radio programs from a section called Sioux City, Iowa Howard what your situation this or hi how are you there oh Howard Howard airport time, there is okay Howard there you go, buddy. Can we help. Well, about seven years ago I bought a 57 Thunderbird. I spent about two years restoring it and now I've sold it in the course.

I sold it and recover all my money can I deduct anything from my taxes yeah Howard. It's a great question. Did you have some fun while you are restoring that will work.

Hopefully good hobby need something you enjoy.

You know, again, I'm not a tax professional here just generally what I would tell you is the iris rags are stacked against you on this one. You have to report capital gain on the sale of the car at the sale price exceeds what you paid for it. The reverse isn't true with the loss. If it's a personal asset so IRS topic of 409 will say you have a capital gain.

If you sell it for more than the adjusted basis of a capital loss if you sell it for less. But losses from the sale of a personal use property and that would include the home or car aren't tax deductible and exception would be made only if it were a business asset but I think hobby car would certainly be in that personal vehicle category, so unfortunately I don't think you're going to give the tax benefit. I sold my money on it to pay taxes on it.

I don't and it's exactly right. Yeah I didn't because I'm quite right. And yet that's the way it works in personal use assets okay well that was my question. Howard Howard, if you don't mind me asking.

Not trying to make fun of you or anything like that but okay you put two years into this car 57 Thunderbird a very collectible automobile all why did you not make a profit on it was it was a just a market or what you think will yet if you're going to do that you should buy one already restored. When you start doing the work on spending more than what you should okay this one did have a little sentimental value to keep the family for a while and now we are doing that read blue or black or white. What color was this one white with red interior what you call me Howard. I don't mean today.

I mean then well in the morning.

All this up in the morning so that you're not too late. Let me call marsh and I get right back to you. He thinks she talks to Marsha. It's all over. So just go thanks buddy you back. Well, if you have a collectible car you want to chat about to give us a call 800-525-7000 El Dorado, Kansas hi Dan, what's on your mind and had a question about secondary and that you get 25 orcs for two years.

I got a good job matching 401(k) and all that out. I guess my question would be after that the current data economy and whatnot. You know how that is right now secondary. How much would you put in the stock market. With it being down know I'd like to take it like that I can, you know, opening back up but at the same time I get where I look at it night and excelled panic that is not very good at it yeah and didn't know what percentage would you trust to put in there and then anything else. Savings account on gold potential.

You know you get them to talk. My goal though you got them making and trying to sort it all out.

Sure what's great question Dan and I think you know you can simplified quite a bit as you just think about your overall financial goals and objectives, and I think as we look at the priority order of this good news is we can simplify everything down into money.

We live on the money we give the money we owe for taxes and dad in them the money we grow and we want to start really without giving category if you will to say no. We want to be generous, Lord, what would you have me to do.

We want to dial in the lifestyle piece and really pray through that and not just automatically assume that our lifestyles can rise to the level of our income, but really asked the Lord what lifestyle you called me to how much is enough, and obviously, whatever that is has to fit within the confines of your spending plan. Want to live within God's provision. Even though the world through the use of credit and debt will allow us to live beyond that.

But then we gotta begin to define what we want to do in these other areas with regard to the old category you know if you have some debt, whether that's mortgage debtor, consumer debt, how quickly do you want to try to pay that off and balancing. That of course with your growing with the assets that you want to grow either for short-term or long-term savings, and all of this needs to be really constructed in the context of your values. What's most important to you as a believer when you feel like God has for you now and in the future. And again, what is your financial finish line. How generous do you want to be again. What is that lifestyle look like we don't just want to save and I would include investing in that we don't want to just save for savings sake, we want to have clearly defined goals because the extent to which we are continuing to put more and more into the stock market, which is in a bad thing, but we're we have limited resources and so there's always a trade-off.

So money going into the market is money that couldn't be given away today or be used for debt reduction. So I think that's really the starting point. Dan is to really have that financial planning maybe thought and prayed through that but clearly identifying gotta what God has for you. Where is he leading you and how does that intersect with your values and priorities with regard specifically to investments in an savings that we would always opt for having that emergency fund is a foundation that's 3 to 6 months expenses. I think for retirement. Specifically, I like the idea once you paid off your consumer debt. You're obviously giving the level you feel like it is is where you want to be and you've got your emergency savings funded that I think a retirement goal of 10 to 15% of your pay going into a tax-deferred retirement savings plan and I would include any matching that you're receiving and that 10 to 15% is a good goal and if you do that systematically, over a long period of time you'll have you every bit of what you need in retirement plus Social Security and any other income sources to fund your lifestyle and allow you to be freed up for whatever God calls you to in that season. I think beyond that, I would just simply say no. And as you look at what additional investing.

You might want to do. Beyond that 10 to 15% just go ahead and define the purpose of it is it for a child's college is it just for additional euro assets that you might want to deploy at some point for a business down the road or some other purpose. And then I think as you define the time horizon in the goal, then you can really decide what is the best investment strategy.

I would say any strategy needs to be well diversified. I would try to make sure that it's low cost and with regard to things like gold, I would say probably no more than 5% of your portfolio in gold, so hopefully that gives you some context for where you're headed out. When we do this though, I look for you to stay on the line will have our team get your information there and will send you a copy of the sound mind investing handbook, which you probably get a bit more granular for you. Just on how you should begin thinking about your investments and your portfolio construction. Dan stated in the line let's get that information and were glad you called today thank you very much know that was Dan coming off as Derek. Derek is Darren so apparently your name has today get through this can 800-525-7000 805 7000.

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. Learn 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 live.org and sent to a still life here is when we we went God. We could possibly be that the Holy Spirit apparently began to take his reaction to warrantless retreat we delete in human relations, not anything to him. Warrantless retreat in this wonderful paradox drawn near me are in your warrantless brain letters. This program, 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. Ron blue explains why it's important to make these decisions now, instead of forcing your heirs to do it later. Splitting hairs will foster a real appreciation for the precious resources that God has entrusted to you, and it's available. Click the start button moneywise live.org is doing well as is goes especially well when we hear from you at 800-525-7000 Spokane, Washington, Andrew, you two are working on an old car we had earlier with an earlier color. In case you just tuning in, who, who had been working on the 57 Thunderbird for a couple years. He hoped to clean it up so it make a profit. That didn't quite happen.

What's your situation and you on my only paid $800.19 probably take me about $1500 to get it while my 19,000 20,008 on Bob all yeah well I'm wondering assuming you not being semi-facetious here. Andrew is a big market is a big market for 61 ramblers ground by $8000 range and minds like you know probably it's pretty much Christine. I just can't become a posted with the three got that big motor in it. Most work right right can do anywhere close to what you just described. I'd say go for celadon try to do it again.

Now that would be quite a find and quite a return on investment is no question about that to me. Clearly this more to it than just the financial peace but it sounds like you've done quite well for yourself. We appreciate your way and ended and tell us your story Andrew I think you need to take your wife for at least one ride.

I mean take it to the burger joint and then maybe the sock hop. After that, get her home in time for her dad's curfew and then then sell it, but to make sure you guys feel young one more time 61 Rambler my gracious Cuyahoga Falls, Ohio hey Derek, how can we help you my friend… Finally got so absolutely try to come to have so many questions, but the eight years old much job 26 years have a lot of medical bills and consumer that and I just know I need a budget and not just not sure how this wind where it began. You know, I know it has gotten out of control without a medical bills and consummate that mortgage and getting close to retirement. I want to try to get this close under controlled yes yes well Derek. First of all thank you for listening for a long time and were grateful to have you part of the moneywise family. You can get on top of this and I know it probably feels somewhat overwhelming. You've got a lot of these debts hanging out there. You got retirement blooming here and you want to try to simplify and clean things up and reduce your overall outgo and really Derek, the only way to do that.

First of all is just to recognize your role as steward recognize God's ultimate ownership recognize beyond that, in his word he gives us clear principles about how we should manage his money, but then after that, you've gotta have a spending plan you've gotta start tracking everything your spending and we've got to get a plan that covers all of your expenses but then has some margin for debt reduction but also love for you to contact her friends in Christian credit counselors.org will. The Bible talks more often we can bring this is moneywise live. Investing is more than just return it's an expression of who you are and what you value is the way you invest your money reflect your identity as a Christian that eventide design investments for performance and a better world so you can invest with confidence to reach your financial goals while remaining truly are Christian values and commitments.

We call this investing makes the world rejoice more is available and invest eventide.com invest eventide.com Christian healthcare ministries enables believers to meet their healthcare costs affordably, biblically and compassionately. It's not insurance but a voluntary cost-sharing ministry based on the biblical example of Christians sharing each other's needs and members are defined under the law for not having health Christian healthcare ministries might be your health cost solution call 800-791-6225 or visit CH ministries.org Marcello University we found in Psalm 119 16 through 18 I will delight in your stacks.

I will not forget your word in any live and keep your word. I 16 to 18 week that affect our lives. We gain perspective by reading the Bible every day.

Word is a daily devotional from any battling proclaims the truth of God's word. Reflections on psychological questions about the Bible and living your life in Christ find out how you can have today and will continue word.org today in the word.org 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 our date will help you discover God's approach to growing your finances strengthening your relationship with your mate and cultivating godly joy, money, and marriage God's way is moneywise live.org Supreme Court is a mixed verdict on the bands for president trumps financial records decisions will keep his tax returns breaking another documents out of the public eye for the time being court kept a hold on the presidents financial records that Congress has been seeking for more than a year. That decision came shortly after the court upheld the prosecutor's demand for Mr. trumps tax returns as the grand jury investigation. More than 1.3 million Americans applying for unemployment benefits last week. That's a number that shows that many employers are still laying people off in the face of a resurgent coronavirus science finish mix on Wall Street amid worries that recent improvements in the economy may be set to stall without fail 361 points.

The NASDAQ gained 55 this is SRN news is that managing what you have and what you have and we're here to discuss it today with Rob last time Steve Moore this is moneywise live in the school live to Fort Wayne, Indiana hi dear and thanks for holding certain what you question are able see we can. I all bow or marketing now have 40 acres and there's no improvements on it, see the Simpson raw land. Is that right right and you have a mortgage on that piece of real estate. I have okay what is the value of that property. Do you know have you had it evaluated GDL okay what you owe on the mortgage 230.

Okay, what is your plan with that property. Just holding it for appreciation or do you plan to build on it someday or we know about that. Yeah, maybe okay well you know is a young guy. I mean certainly nothing wrong with land people made money on land health is very common. It's another asset class. Of course it's a piece of real estate has the ability down the road to be improved and you can enjoy it personally and recognize as investment.

I just like you know I think for raw land and it just gets so much more complex in terms of your what's the viability in terms of the access and what about the improvements in utilities and what's going up around it and are you ever going to get to a place where you you're going to do something to improve it or you just relying on the dirt to appreciate on its own and you know is it in an area that you know is going to have some construction coming down the road that would cause it to increase in value more quickly and I think because of all these reasons, and it's not something we can generate income from in its current form you I like just more simple more liquid investments like stocks and bonds is kind of your base. Now once you have a healthy stock and bond portfolio that's growing for your future and I would say use 10 to 15% of your income as a target toward what you're putting into a retirement account in stocks and bonds. You certainly you could think about diversifying into other asset classes as long as it fits into your overall financial plan and that's where I could see real estate being a part of it, but I often look toward income-producing real estate, more so than just land for the average person so I do like the idea Darren unless there's something I'm missing here are some other reason of you considering trying to sell it. Take the principle that you have the equity that you have that you get out of the property and use that as the base toward beginning to systematically move into the stock market, both with that money, as well as what you might be able to add to it out of your income. Once you have an emergency fund and once your consumer debt is paid off, and assuming you're doing some systematic giving.

I think you just be happier with that longer-term in terms of the performance. Historically speaking, it will do better and in terms of just the overall liquidity and and hassle factor of maintaining a piece of property.

Thank you very much we appreciate your phone call today wish you the best as you work through that decision-making process, Evansville, Indiana Linda what you question for Rob. Rob will will now going I never charged anything for their time spent like two or three hours at a time. Yes, Linda, is this a financial advisor is managing some money for you or they do they have an investment portfolio of yours that they're overseen okay yeah you know when you say financial advisor mean then that can take on all kinds of forms in the financial professional category.

There would be investment professionals. You also have financial planners which would typically if they're just doing planning services would charge no hourly work based on an engagement to generate a conference of financial plan and then perhaps updated periodically. You have insurance professionals you have for you know those that provide accounting and tax services and I would even lump in their estate planning attorneys. Each would be compensated differently. Typically, an investment professional is either going to be paid based on a commission that's generated from a product that is sold to use a mutual fund. For example, that generates a commission could be a way that they generate fees or commissions if they're selling an annuity so that's an insurance product with an investment component to it that would be generating typically a commission. Otherwise what's often very common.

In fact, increasingly, this is the way advisors are paid to manage money is based on a percentage of assets under management. So just simply they would charge up the percent of the portfolio on a periodic basis. Usually quarterly for the management of those assets and that could be anywhere from three quarters of 1% up to 1 1/2 and maybe even a bit more than 1 1/2% per year. Of the total that there managing and then for that they oversee those assets make the disinvestment decisions on your behalf. In light of your goals and objectives and in some cases and this is probably true for you based on what you're describing.

In some cases the fee that they're charging to manage the money also includes the financial planning that their offering, or that may be charged separately. It can go either way. So I think the bottom line is you need to find somebody who really has the experience and the competency you're looking for, I would say find someone who shares your values and understands the counsel of Scripture as it relates to managing God's money and that's why we recommend the certified kingdom advisor designation and you can find CKs on our website but then beyond that, I think it's very important and very appropriate. Linda to ask the question, how do you get paid because one of the things that an advisor of any kind should be very willing to do is be completely transparent about how they are compensated are they earning commissions are the earning fees are they earning both and what was it that you paid over the last 12 months yell and and you should be able to know that so I would ask that question and just so you're aware. And that gives you that a basis to compare that to what others might be doing as well so I think that's an important part of selecting an advisor and then obviously moving forward in the relationship.

Does that make sense okay Nora you're very welcome. When and thank you for listening going today. We appreciate Linda thank you very much. A great question Rob.

People are always wondering how do I find one by him or her or how do I interview one. What questions should I ask. I mean, is it isn't it all, like finding a position as a good. Can you sit down and ask some semi-personal questions and try to find someone that way is it okay yeah I would do say a couple of think Steve number one is you should be interviewing more than one a financial advisor before you make your selection number two I think it's really critical that they understand God's word and an eternal perspective of money and share your values and I think it's also important that they are not trying to just sell you something, but that they're asking you, perhaps even more questions than you're asking them because you want somebody to tailor their strategy to what God is doing in your life, your goals and objectives and then of course. In addition, competency and experience you want to make sure you know how to grade information is always causing Deus moneywise live 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.

Learn 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 live.org 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 is our human nature. It's fun helping someone and not hurting all in my field good for the moment, but it always turns out hurting you more bitterness has its own reward, but helping people in the name of the Lord. That's fun and eternally rewarding. The key is to do it in the name of the Lord. That's when you have the fun doing it now, and the rewards for doing it in heaven because you given God the glory. You can always find a way to getting God with you will doing only by saying God bless you have a good day for us to see Christians of being angry and stupid and narrowminded.

So even by having fun making people happy and letting them know that your Christian you move them closer to God.

There's nothing more exciting than knowing God just use you. At least somebody join us@igniteamerica.com and Billy Graham cannot like that change your life if you let your light what Jesus Christ offers you is nothing short of revolutionary. If you're ready to surrender your life to him. We can help visitors find peace with God.net that's fine. Peace with God.net with the Billy Graham evangelistic Association is a great deal more about our money than most of us imagine Jesus says more about our use of money and possessions and about anything else, including both heaven and hell in managing God's money, author 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 when you store moneywise live.org for joining us today moneywise. Live your post from last times more in my joints is not calling from Cleveland, Ohio Myrick, I know you been there a while. Thank you very much for your patience. What's on your mind.

Hi all, investment question, so I know you say not to try to time the market, but is in her appropriate to take some funds are some investment gained significantly and that make up update portion of my portfolio move those into something a little safer to lock in gains while continuing to future allocations go back into stocks and similar investments. Yeah. So Myrick is are you managing all of your money yourself is a right yeah I'm thrift savings plan account night and I'm not picking individual stocks, but their classes are and so you've got one particular class that's done quite well. But in order to realize that game so to speak.

You have to move out of that and are you thinking of moving into something more conservative right yeah you know I would be hesitant to do that Myrick just because that's probably the more aggressive portion of the portfolio and I think as long as you have a proper diversification you're gonna want that component represented moving forward.

Just because we don't know where the markets added and that may be the portion that's can outperform you know the more conservative, or moderate components of the portfolio in the days ahead. Now if it was highly appreciated. Single stock you you had an investment portfolio and you happen to have Tesla in there and you know it's you know it's up 300% disabled boys, now's a great time to going move out of that get more diversified lock those profits and you know that be a completely different story. But to move out of a portion of a TSP where you're having to leave behind one particular more aggressive fund and that's perhaps the only one of its kind and move into a more conservative posture with somebody you still working for a long time and in trying to grow this portfolio. I'd be hesitant to do that.

I just enjoy the fact that that portion of the portfolio is up. It may not be the portion that leads in the in the days ahead. But that's okay and that's why we try to stay diversified and we don't time the market. So in a TSP specifically in the type of investing you're doing.

I would be hesitant to move out if that makes sense. Thank you very much okay Myrick publishes her Robert say I do have Tesla stock which I don't want to take that 300% that I've earned almost overnight. How does one take your gain or realize you gain know how I do that and then little by doing yeah and let me be clear, I just you really want to guard you against trying to jump in and out of the market trying to pick winners and losers know that's not a long-term strategy that can get into a get-rich-quick market timing thing, but I run into people all the time that say why got my serious money and then I'm a little bit over here that I like to have some fun with and every now and then I might invest in something and wow I hit one really big and so you know simply what that means. Steve, as you would just liquidate deposition so you would sell your shares of that stock, which until you do so you have a paper gain or an unrealized gain as soon as you sell it.

You've locked that in and that if it's in a taxable account, you know some tax on it if it's in a retirement account.

You don't because it's tax-deferred until you pull it out as ordinary income tax, but you just simply liquidate those positions right Orlando, Florida hello Colleen what's up how can we help now.I currently work direct healthcare. Yes Apple, however, I'm 40 and down right now and right now I'm not at the airport and can just start to dabble. I can't make permanent filing share. I just wanted to get your feedback. Yeah well there's a couple of pieces to this, Colleen. First of all, there's the nonfinancial side in terms of the position you're in now in the job that you would be in if you make this change in just the satisfaction the ability ability to use the talents and gifts God's giving you where he's leaving you all of that and then there's the financial side, and I'm not saying they're mutually exclusive.

We need to consider both, but clearly you know, it sounds like you've done the math and I would probably agree with you, given what I'm hearing about what will happen with your pension imbibed by the way, the Florida retirement system is is very good and solid, probably through those guaranteed increases will outpace. I would imagine you know what you would be able to expect reasonably in terms of just market performance based on historical averages in a 401(k) that you're contributing to systematically so if you've run the math and you feel proven that out then that's a real consideration.

So I think at that point you just have to say okay if I'm better off staying here financially just given everything I know today and certainly there's no way to guarantee that other than just comparing what you expect to happen in a 401(k) to the FRS then you have to look at that, alongside the other component to this which is what would it mean to stay in your current job versus making this change in how you feel about that and and then ultimately pray through it and that's a decision that only you can make, but I'm not surprised to hear you say that staying put, may make more sense on paper financially that that makes complete sense to me and so I think you just have to make that one of the considerations as you're evaluating this potential move to some extent, okay.

All right Kelly, thank you for your call today. We appreciate it very much. And Steve, you have been a great day today.

We covered a lot of ground with a lot of folks.

But one of the reasons that it's a great day today is well. It's somebody's birthday is I is your friend happy birthday Steve Moran listen we got a jingle to celebrate your birthday, but let me just take this opportunity to tell you how much I appreciate you and how thankful I am for you and I want to wish you a happy happy happy birthday just tell you your incredible blessing to me.

My friend that's very kind of you. I did know you knew it.

I didn't didn't tell a lot of people at this point, you don't really want a lot of people to know and for some reason the smoke detector just went off quite sure what caused that but appreciate hey Terry, is there is there cake on the horizon tonight and is going to be there is chocolate cake. I have a feeling it's going to be coconut cake. That's just my guess. But no request. My granddaughter will be there but she's only three, so she she has to get a ride but I think she'll probably be there nonetheless but that's very kind of you do to mention that thank you very much and thank you for the theme music in the background arousal Lane piano that was that was then the man taking care of the theme music today but well half of the entire team here moneywise. We want you to know that we love you and hope you have a whole and happy birthday hey we did have one question.

We didn't get to today. Ryan couldn't hold, but he had a great question and so wanted to come back to it real quick before we finish up today and Ryan just said is simply, is it okay to have building wealth as our goal and that you know that's a great question because it really gets to the heart of why does God entrust to us what he entrusted to us. However, little or however much you member the apostle Paul said, I've learned to be content in times of plenty and in times of want and you we all need to find ourselves in that place where we can find contentment. But what about building wealth. Well, we know that one of the reasons God entrust money to us is to be a good and wise and faithful steward and clearly the parable of the town would say seeking a return on that money is very appropriate. So I think we should think about investing is a legitimate use of God's money, but I don't think wealth building for wealth sake should be our target in achieving true financial freedom is the goal and what that entails is getting your debt paid off living on less than you make. Preparing for retirement, and oh by the way, giving generously, but beyond that, I think we want to be free financially. So were not hindered or encumbered in such a way that we can't respond to the leading of the Lord will own wealth is our goal, we run the risk of giving into the love of money and allowing that perhaps to replace God in his rightful position in first place in our lives. So yes, we want to save and yes it's okay to invest.

We need to check our hearts and make sure that ultimately our our our understanding is that money is a tool to accomplish his purposes but Ryan. We appreciate that question today and sorry couldn't hold so the numbers after the decimal point that doesn't spell true financial freedom could be a million could be could be 10, but that's not financial freedom and you and I over the years and had the opportunity to meet people that God has blessed with that kind of money and they will tell you that yes it was nice for a while but it's not what brought peace. It's not what you brought God's peace. That's not what brought dissatisfaction with my family, my ministry here on earth you know we we find it hard to believe but intra-and absolute truth and and obviously we find that from Solomon in the Old Testament that riches are finally just the acquisition of riches. Well said Rob West now. Thank you Steve. It's a great program today and again happy birthday and look for to be back here tomorrow. I appreciate that. Thank you very much and thank you for joining us today for my birthday party here. Gifts can be sent directly to my home. I will give the address off the year money will his live is a partnership between Moody radio and moneywise media in your partnership in your prayers are really vital and integral to everything that we do here if you have a brief email question for Rob to send to questions moneywise for thanks for listening.

Have a great day. Join us again