Preparing for Christmas in July

In the long hot days of summer. It's difficult to think that way ahead to Christmas, but you can eliminate at least one major source of anxiety during the holidays with just a little planning and execution right now were talking about money.

Of course, Christmas is indeed stressful enough without overspending or worse, that kingdom advises Pres. Rob West has five great ways to put the happy back in your answer calls on anything financial at 800-525-7000 800-525-7000 times more preparing for Christmas in July next Monday, 1/okay Rob with the air conditioning working overtime here in Georgia.

Lots of other places to I have to admit Christmas is really one of the last things on my mind today, but we really should start thinking about what that's right. And actually January is a better time to start thinking about next Christmas, but if you don't start planning for it then and there is no better time than right now were still in flying you. You got us into January.

Here what we talked about preparing for holiday shopping before on this program, but today you have some new ideas to help us even in July.

So where do we start, I sure do. Steve in the past we talked about how important it is to develop a Christmas budget well in advance and in fact we have one on our website that you can avail yourself. But let's start there today. Again, the best way to do that is to first determine how much you can spend on presence decorations and entertaining without going into debt.

Your goal is to make this a Pratt plastic free Christmas with that, let's go back to that spending plan. I mentioned that you'll find it moneywise live.org.

It enables you to itemize your spending, naming each gift recipient how you plan to spend. In addition to all your other expenses which are often forgotten, especially in July, but like your Christmas tree, greeting cards, wrapping supplies and more. Just click on the resources tab when you get to our website moneywise live.org.

We also strongly recommend that you make Christmas its own category in your regular monthly budget. That way you'll get into the habit of saving something every month leading up to Christmas okay and that's that's really the key to taking the stress out of at least portions of Christmas knowing that you have the cash you need. Going in okay what's next well this next one is especially important because if you're starting in July, you've gotta play catch up with your savings. Of course you can make that a lot easier by cutting back on some expenses now to free up money for Christmas spending later. So as long as you have your monthly budget go over it to see where you might be able to trim you'll have to exercise delayed gratification giving up things you want now for things you'll want at Christmas.

Okay I like how you work. The word trim in there. Is that a tree in the stuff right yet you can really help. I you catch everything more when I'm hoping I don't catch everything so far been pretty healthy, but I'm wearing my Christmas mass I sleep as as production crew today. Judy has on a very svelte looking black mask and she's never looked better when I don't mean she does better with Matt getting in trouble over the limit on the step 30 credit card rewards and cashback benefits from shopping apps if you use a credit card to get rewards and will assume you pay off the balance every month. If you do intend to assess those rewards aside for Christmas spending. I do that with rewards I get through the health insurance plan we have here at the office and I use them to buy Amazon gift cards. Those result in presence. Any number of shopping apps give you cashback or gift cards for free if you purchase items through them. Just make sure those purchases are within your budget.

Part of me give you list here.

Get ready perhaps can pencil out packets in honey retail me not, I bought a that's IB oh TDA and shop cake. By the way, I'll tell you where you get these after the program.

Those are just some of the apps that pay you to shop through them. Granted, it's not a lot of money but it's free money in every little bit helps and again will have links to all of those apps in today's show notes just go to moneywise live.org, what language are you speaking Rakitin about one of the sites use in these early languages URL URL yes okay little bit of time left.

What's next well me give you one more. This ideas to start shopping for Christmas now with almost 6 months to go before Christmas. There's a lot of time to do research and find the best prices for gifts and the items to purchase.

Also, tax-free weekends are starting a just a few weeks as we head back to school, you can use those tax-free weekends to buy Christmas presents to everyone you buy in August is one less you have to scramble for in December and this is 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@moneywiselive.org if you need investing. You probably want help that's grounded in God's word. The approach taken by sound mind investing since 1990.

SMI is helping tens of thousands of Christian supplier wisdom and confidence in their investing investing experience how much you have doing that you can learn to be in good will Stuart areata investing more information about SMI and financial wisdom for living well is available online. Sound mind investing.it's the Sunday morning service were approaching the crucial point one person in the congregation is just holding on. Let's take a look inside his subconscious captain. We just can't take anymore as many banks have completely one night attention span is shot can only give you half and pulse Bella Scotty. We need more power. The sermon lasts for another 20 minutes. I'm sorry Capt. do not like Karen just to maintain his life support systems is the Bible too much for your memory banks.

God wants you to understand his word. Why you wrote it down. The Bible contains the key to eternal life to spend time in God's word and tell others about the only way the truth and the life of Jesus Christ. 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 the car, get 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. God has a specific plan for each of us when it comes to our jobs, our careers the way we approach life. Our standard of living in our job partly is our job is to what is to help you find that and we love to do it today consulting God's word for wisdom so give us a call if you'd like to chat about anything financial 800-525-7000 800-525-7000 eight for just a minute we talking about Christmas in July preparing for that which is still six months away and Rob any further thoughts force. Well let me just recap here quickly. Steve, we had five of them and I think is really can be helpful as you think about preparing for that plastic free Christmas come December and you know I think it's really critical as you begin to think about your spending plan for you to have one specifically for Christmas and that was our first idea is going to our website moneywise live.org and I go and download that in put that in place right now.

The second one was to go ahead and start putting something aside every month. By the way Tony on her Facebook say page. She said she save something every month toward Christmas gifts. And that's exactly what were talking about their Tony step three was take advantage of cashback or credit card rewards that you build up during the year and use those for your Christmas shopping. The next one was to go and start buying some of the gaps you got more time to do research, find good deals and you can start putting some things aside that you won't have to buy next December. Now the last one is protect your savings up to put all of the money you managed to save for Christmas someplace other than your checking account. The idea most banks and credit unions will let you set up a separate savings account for Christmas take advantage of it because if you leave those funds in your checking account.

There likely to disappear before Christmas even gets here, but if you move it to an account that you label Christmas and by the way, no need to pay any maintenance fees on those just find it online banking what you do it for free. That money will be nice and safe. So when you need it it's there, spend like a great suggestions today from Rob West and again if we can help you as you think through Christmas or anything else financial in your life. Give us a call. Lots of lines available at 800-525-7000. Let's go to Jacksonville, Florida hello Nick, thanks for calling. Insert your number one today. How can we help you share market. Go light filed for unemployment because you would alert you to the code in 19 and she probably week after that you start working and benefit and then as she started working. We started eating it.

But now that you working it's been about a month working were still receiving some of those unemployment benefits now wondering thing that you.

They exempt some of that penalties for the benefit in the rear kind of thing kinda weird about it. We should just leave it yeah yeah well procedures vary by state neck on this. You need to check with the appropriate agency where you live there in Florida. The Department of economic opportunity there in Florida are one of our team members are Jim Henry went out looks real quick. As we saw your question coming they say hold onto the money for now. If you're playing overpaid unemployment benefits. That agency is swamped, likely due to the coronavirus so this can be difficult for you to get someone on the phone, but if the state finds that the money is an overpayment. The unemployment office will most certainly send Ford in the form of what's called a notice of determination and it'll include instructions for return of that money.

If that doesn't happen in time.

It's possible you receive an incorrect 1090 9G which is where those benefits appear and then you would need to contact the Department of economic opportunity there in Florida and asked them to send a corrected 1099 to the IRS.

You may have to do that in writing. You would include the correct amount you were eligible to receive if the problem isn't corrected by the tax filing deadline next year you'll need to include an explanation on your federal tax return and attach documentation to show what you actually received and then use that figure on your return and included in your adjusted gross income, but by the time the IRS contact you if they contact you. You'll probably have a corrected 1099 from the state which should resolve the matter because the IRS will also get that form when it goes out. Keep in mind there are probably thousands of other people having the same issue so I would just hang on the money if it is in fact an overpayment you will likely need to return the money and they'll tell you how to do that. So I go ahead and cash it would keep it in a separate account so you're ready to handle that when the appropriate time comes. Nick, we hope that helps a great question. Thank you very much.

Let's continue on to Kokomo, Indiana hello Bill, what your question for Rob West. Hey, good afternoon, and not a question, and all Christmas if I my wife maintain an upstairs room. She maintains a large closet and through the year for Christmas but also for birthdays and such. She will purchase different things that she knows kids and the grandkids would enjoy almost always the word parents is involved. Okay and you know that those items get put away and then Christmas comes around.

We go into the closet and divvy it happen. The the expenditure at that time is minimal at best. Rounding things out through the years. She wisely binds all those things they go in the closet and then then there ready yeah so Bill I love this because you're doing a couple of things you're planning throughout the year.

Your wife is obviously frugal. She's a great shopper. It sounds like looking for great deals throughout the year and the cumulative thing she knows the kids like is that the kids ever come across the the closet or do they not do I know where it is and they just agreed they're going to stay out how how does that work, they may know where it is our our very well grown light yeah well we just had a simple rules like you can go hunting for the Christmas presents. But here's the deal. If you find any of them. They immediately gets it back and well that just curbed all of the hunting and searching around the house soon as you know I'm not. I'm not worried so much about the grandchildren. I'm worried about Bill and his upcoming birthday. If he has the wherewithal to keep himself from looking in that class. Him and God, I suppose, and Bill were Bill were glad that you called in today. We wish you the best.

Thank you very much. One more quick going out to Helena, Montana Christopher what's in your mind will will in the economy and stuff know the big one becoming I believe in your brain prepping and not panicking about gold, silver and or gemstone or a financial and/or know that the time bartering yes well is similar to its sister metal gold. You know the precious metals, silver has been seen as a safety net, a safe haven asset that can protect investors in times of uncertainty and you could certainly lump. What were experiencing now, into one of those times.

But here's what I would say that Christopher you know I wouldn't go beyond the normal allocation to that. So you can have it as a store of value. A hedge against inflation and a falling dollar or a major disruption like were experiencing now a prolonged downturn in the stock market. Any of those precious metals will do well, but I wouldn't have more than 5% maybe 10% of your portfolio in those precious metals and I yeah just for the average person.

I would say better not to take physical possession just because you've got, then perhaps a dealer markup you gotta store them safely. You've got to when you sell them figure out you know who to sell them through and they're going to take a cut off of that and you know I prefer just to have that allocation to the precious metals through an exchange traded fund that would be attracting ETF to the price of the underlying metal so you get the moves of the metal but you don't have to take physical possession of it.

Silver prices are roughly flat this year but they are outperforming the S&P 500 and the silver backed ETF's that I mentioned are seeing both increase volume and assets under management. For these reasons, because people flee to this type of investment so you can take the physical possession. I just again for the average investor wouldn't do that. And here I'm not sure what you mean by the big one and I have some ideas we don't need to get into that now but I just do.

Even though we are increasing our debt in a significant way here in this country and I think for good reason, at least right now because what's going on. I don't think we should of been a building it. Our debt for the last 10 years, but I also not expecting any kind of collapse of me and I was still the strong economy is strong consumer. We will recover from this pandemic. I think the Fed has acted very well and out. There's a lot of money on the sidelines record money market balances right now ready to go back into the stock market. So we got some challenges to deal with. Down the road, including getting this debt situation moving in the other direction, but I wouldn't be saying it's a time to go into any kind of bunker mentality. Just make sure trust is in the Lord and make sure you're following his principles and you're being a wise steward of what he's entrusted to you and leave the rest. Thanks, Christopher, and we do appreciate your call coming up Gary in Illinois and Betty in St. Louis and perhaps your call as well. 800-525-7000. 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 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 outdoor everything to I want to start with. 32.

Those who love you like crazy to you from him.

My credit is that sinners lend to sinners, expecting to be repaid in full.

Any expecting to get anything back will be great, and you will base the most high is kind to the ungrateful and wicked beam are simple, just as your Father is merciful. All right, we on the understanding that you just discussed that what made me distinction in terms we can look at that and think that is contrary right your parents, your father, prayers and support of this program to reckless this month.

Thank you gift of 57685768/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. I.org this verse from Philippians 4 through seven do not be anxious about anything, but in every situation, by prayer and petition with Thanksgiving present your requests to God and the peace of God, which transcends all understanding, will guard your hearts and your minds in Christ Jesus, and certainly all of us need something today. It's the peace of God, and we can depend upon him and his word. Our phone number again is 800-525-7000. If like to chat about something financial today with your host Rob West Fort Lauderdale hi Miriam, what's going on in your life.

Great thanks for the company to go out like what you Miriam, have you. Did you receive them in the form of the check that you deposited into like a checking account or something so you were in. It wasn't deposited into an IRA. It was deposited into what type of account okay and hope how long ago did that happen.

Okay okay and how much did you receive the proceeds of that. Okay.

All right. And you don't have plans to use it you just wanted to keep it invested.

Is that right okay yeah I think the key here is we don't want to take a distribution which is taxable so you need.

There's a 60 day rollover rule that allows you to get money into an account that is unlike titled account of or in this case go from a 401(k) to an IRA. If it stays outside of a retirement account for more than 60 days.

That's gonna be considered a distribution and that means that if you're under 59 1/2 you to pay a 10% penalty and then all of that $9000 is going to be taxable to you and so you have to add it to your taxable income for the 2020 tax year, but because you have the 60 day timeframe where you when you take a distribution to get it back into the account or to complete the rollover in your case that you still have time to get that into an IRA and it not be considered a distribution and so what I would do is move quickly to open that iRad probably do that at Vanguard or Charles Schwab, or if you want to do more online type Driven solution. You can look at betterment. One of those wealth front would be another, and then you'll want to make that deposit in there and keep that paperwork to be able to show that that came from an IRA and that you got that in within the 60 day.

At that point, then you'll want to pick a good mix of investments, probably using ETF's that are index funds tracking the broad market and get it invested. According to your age and risk tolerance and just let that grow and if you don't have another retirement plan at your new place of business.

Then you could certainly continue to contribute to that IRA.

If you do have a matched 401(k) or 43B, I'd start without first and in and take full advantage of that doesn't make sense though. Okay I think to let me just summarize in and then if we need to talk further. We get you connected to somebody you can help the bottom line is we gotta get this money into an IRA within 60 days of you receiving that money and so you want to go open an IRA Charles Schwab or Vanguard and then you want to send this money. The exact amount you received the deposited and then they have some pretty simple question based tutorials that will help you set up your investment strategy that fits your needs.

That'll be the next place you want to go.

Miriam was glad that that this is the first place you chose to go today and I hope the information helps you as you move forward. Lots of time to do the correct thing in this case.

Thanks very much for listening to moneywise live around less times more and will be back with more right after this. 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 we designed 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 Moody radio verse of the week is found in Revelation 5 and they sang a new song, saying where the are you take the scroll and open it feels for you were slain or blind you ransomed people for God from every tribe and language.

The radio verse of the snow for just us thinking over again by that was Ronald Clay's life in prison one day and hopelessness. He cried out for God's grace I say that heart wanted to be rain.

It was there for Ronald in prison today as many theological seminary preparing for ministry.

Read his story this month's Free newsletter. Go to my Moody radio.org might be radio.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 counseling 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.org Florida is reporting abuse single a high mark of 156 coronavirus dance was a good use to experiences with rising cases officials in the hard-hit Miami area weighing another blanket locked down Arkansas governor Asa Hutchinson is issued an order requiring people to wear a mask in public throughout the state, which is dealing with the surgeon cases Republican governor issued the order today.

After weeks of resisting such a requirement, US, Canada and Mexico have agreed to keep their shared borders close to nonessential traffic until at least late August because of covered 19 walls replenishing lower after mixed reports on the economy highlighted its uncertain path, but almost 135 points today for NASDAQ was off 76 the S&P 500 down 11. This is SRN use hey guys talking about Christmas in July well.

It has as much as we think it might be helpful.

We know that a few of you may be gnashing your teeth come on guys Christmas in July, but it's good to be here five months Rob right and you haven't asked me my sizes yet.

They may change from last year's right to write because of cove it. Yeah right. That's what happens and they haven't gone down up within the Chattanooga Tennessee window. Thanks so much for holding my friend what's on your mind right my call week or two and looking at possibly retiring got about 1/2 million dollars in a lump sum pension and 401(k) and I've talked to some money managers in town and I'm having heartburn by Camaro about 30 to 40,000 a year to manage it for me but I wasn't confident that I can do it myself.

What you recommend. Well, you know window. I understand what you're saying here and it's hard when you begin to do the math and realize you know how much you would be could be paying in terms of a management fee.

I would expect with that size portfolio you to be paying more like 1% which should be 25,000 a year. Now I realize that still a significant amount of money but here's the way I would look at it. You spent your entire life amassing this wealth to be able to create an income and provide for yourself in retirement. Whatever the Lord has for you and do some giving and traveling whatever you're planning to do and you know you having a professional to come alongside you and really help to guide the investment strategies you're not taking unnecessary risk that your generating the return you'd like to achieve that.

You've got the amount of cash you need available to weather a downturn in the market to make sure that there's a portion of this that it has a growth component to it so that you know it can outpace whatever your pulling out of it. To supplement your income and having all of those pieces in place and somebody, you know, making sure that it's tax efficient in all of those issues you know that's worth what you would be paying and so I think the key is to really find an investment professional that really aligns with your values that really understands what God has for you in the season. What you're trying to accomplish and what you're not trying to accomplish and that this person also understands the Council of Scripture and really the role that you have a steward in managing these funds, but you know thinking about paying 1% or a bit more to someone for that purpose is hard and yet I think very, very prudent and wise. We certainly see in God's word that the other Sears wisdom and great counsel. And so I think from that perspective I would sleep well at night knowing that you've availed yourself of that. So I would be completely supportive and in favor of the view headed in that direction. Does that make sense so absolutely you have somebody in my error. Will you just be starting the look for someone as you venture out here a couple of folks already okay and looked online for some. I want to keep it local is probably not necessary and local one. Here's a couple things I would say number one is I would interview at least a couple of certified kingdom advisors there in Chattanooga.

There some wonderful ones. You can find when you go to moneywise live.org and click on find ACK a just put in your ZIP Code.

This is gonna be somebody who not only has significant experiences met regulatory and click character requirements, but also is been really trained to be a specialist and biblically wise financial advice, and so II would start their number two you always want to make sure you understand very clearly how they get paid. Number three I would want somebody who's curious about you. I don't want them spending that whole first meeting trying to sell you something. I want them getting to know you and asking you lots and lots of questions and of course you want to make sure they have the experience and that there's just a great alignment and not how they're going to approach the management of these resources. And lastly, I think it's really important window that you clearly define on the front end your expectations with regard to not only the frequency of the communication that you have the method you are you expecting a phone call and a certain interval or is it okay to do it through Zoom online you want to meet in person, how often, what is their expectation and is this account to be handed off to somebody else or is the person you're meeting with actually to be the one that will be handling it. All of those things I think are really important to find a good values that match as you make the selection, great, great suggestions. Rob, thanks very much and window thank you very much for your call today off to Grand Rapids, Grand Rapids, Michigan. Gladys, you have an investment question for us as well. Only about how that ballot and Ameritrade batting. I'm just wondering anything out that are normal to the financial handler. Okay let me ask you this guys and while I am asking this question you don't mind just got turning around and turn the radio down because the delay were here and everything twice.

Is that your choice that you have 300,000 in cash or is that the advisors choice by okay and have you had a meeting recently just to talk about the strategies it's being employed here and obviously were in a turbulent market in your not working so this is retirement income and so I would expect to have been you know as much as a years worth of cash, but is it truly just in cash or is it in short-term bonds, or CDs, things like that what you know about the 300,000. Okay and have you all talked about what the plan is for that particular portion of the portfolio moving forward will continue why okay all right I own my condo but I have $40,000 mortgage. And I wanted to take money out of their 40,000 and pay off the condo. I like that a lot. That makes a lot of sense to me, especially since you got a mortgage and if that money is in fact just sitting in A cash account is no reason why you shouldn't just go and eliminate that mortgage.

Suggest you visit with a perhaps go back to this financial professional and say can you tell me the strategy what is the plan behind where were headed with this roughly half $1 million and you know why am I paying 1% of this money to sit in cash and is that where you plan to keep it but at the same time, you may want to consider getting a second or third opinion I would got some wonderful CK's there in Grand Rapids you could connect with one of moneywise live.org just click find a CK I think the key is, no matter who you choose will you stay right there and I'm not saying he buys do anything wrong but I think what I'm concerned about is the fact that you don't know what the plan is or you.

Perhaps there is not one with regard to how this money is going to be managed. Moving forward, and you need to know that you're the steward.

This is God's money. He's entrusted to you.

And so there needs to be a plan that's well thought out. That makes sense. That's consistent with what you're paying each year in fees and that there is great thought being given to how this money is being managed for you, for your benefit and for God's glory for it to grow and be protected but also so you can use it. Forgiving in meeting your needs well into the future. So I'd start with this advisor, but perhaps get a second or third opinion. Just say you heard from a couple of folks that God has blessed with an abundance.

We also hear from a lot of folks in this program that don't have very much at all and are really struggling and you know for each of us.

We just need to be found faithful with what God has entrusted to us hold it with an open hand can be very quick to share and be generous well said about courage words will be back with more 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 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 to work hi I'm very Maguire I'm a car guy here to help you understand the urgency and how fun it is to share your faith in every opportunity. Share your faith is not just living a good life be good to get you or anyone else to happen but it does open the door for people to listen to you when you insert God in your conversation. That's when they begin to understand that you're a good person because your Christian maybe they should be about share your faith powerfully and almost effortlessly ignite America.com. We had hot topic articles and teach you how to insert God in the normal conversation without raising Mets were the blood fighting ways. Insert God into conversations is a normal part of those conversations again dislikes part find the right spot and take a shot and let you just don't see no given time. There's nothing more exciting than knowing God just use you to lead somebody join us, that ignite America.com. Most churches has canceled the Sunday services. People retreating into the homes and out of the long lines in the supermarkets, the streets, a client, how will you handle hi I'm Betty Don from Christianity would ask.com. Call me crazy but while if one else is retreating into a shell of self-interest self protection. I think that you and I have a huge opportunity what the world needs right now is for God's people to stand up to step out with the client calm confidence and share the hope that we have in Jesus Christ because let me tell you when people you know see the confidence you have the assurance that you have the pace that you have in your heart they going to want to know with that comes from someone the rest of the world is panicking, the Christ of them laugh them and encourage them to lead them. Tell them about the Jesus who died and rose again 15. Here's a great deal more about our money than most of us imagine. In fact, 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 Alcorn 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 click the start button moneywise live.org today. Thanks so much for listening thanks to those of you who called in. Let's continue on that aspect Canton, Georgia hi Beth, how can we help you. I hit my packet and mailed to me like Allie every year return receipt and I got yeah back in May and mail it fall on April 20 I never got my return receipt from the Fed and so went back to the post office and I traced it and said it was delivered two days later what time it just had a number they printed out for me and I haven't got my refund back in July. Are any so flexion I gave him? Yeah, you know refunds are taking longer. Beth is a result of COBIT. 19.

So what we're seeing is that you know because most of the iris employees were sent home to work. They of course were provided with the equipment, computers, etc. to do much. So the mail and returns are just sitting in the office waiting to be processed. When the workers return.

Now I'm not exactly sure could be that some of them are partially reopened or fully reopened, but the bottom line is because of the time they were away. Refunds are taking longer the processing of those returns is certainly taking longer so I would just count this as a a year that things are to be a little bit different. Certainly we've all come to realize that I think the fact that that you have gotten that signature confirmation you know that they haven't you handled your part and that the refund will be coming. It's just that because it was a paper return. It's going to take longer and because of COBIT. 19. It's going to add to that, even more so you'll get it. It's coming your way, but you may just have to be patient for a bit longer is acceptable now absolutely. I like that. I don't know that will be that long, but perhaps Sheila forgotten about it by then it will be a welcome blessing coming in the mail will just think about you know the the fund of expectation. You know whether it's Christmas or birthday or you know it's always fun unity.

The Internet has these videos people post these videos wrap these on packaging videos and it's just the expectation of seeing what's what's in there. One could spend hours watching people and wrap things that me but Mel told sure you bless you.

Thanks, thanks so much, Youngstown, Ohio hi Amy, what's on your mind and I were working right. He had started a café a year ago what kinking planned to go to an HSA note, I'm confused. Now if FA taken as a family we collect each individually secondary on the others and how much quicker way total or yes it's a great question that you're asking here. Amy is so in the case of married individuals. Each spouse who is an eligible individual who wants to have an HSA must have a separate HS that you can have a joint HSA. Even if you're covered by the same high deductible health plan. However, distributions can be used to cover the qualified expenses of the other spouse or other family member so that would be considered more of a family HSA were there's one owner one person making the contributions, perhaps as a salary deferral or something else but then the distributions being made for the benefit of the entire family yell at us as the qualified medical expenses are incurred. But where the restriction from the IRS comes in is when were dealing with two workers not being able to deposit money into the same account. So if that's what you're talking about then you would have to have two separate HS ASIC accounts, one in each of your names and then you have to decide which one you want to have the family coverage in which one you would just be for the individual but the bottom line is the the allowable contribution for the year per family is up to think this your $7100 and that would be between the two accounts and then between the two of them you would use them to cover all of the families I qualified medical expenses. Does that make sense okay thank you and it could be a two even Amy that the family can take money out of either. It's just that each spouse can only contribute to one you know that I'm certain so I like HSA's a lot that can be very effective for their use properly and the money can stay in there and you can keep it to use down the room, even for retirement so I would absolutely look into. Thanks, Amy. The Chicagoland area hi Tracy, can we help you really quickly, what you do here, that's very kind of thank you and I noted that we don't get better, but I know they are there between man and he or doing E*TRADE nature.

Yes, my first question, yes, well deferred comp can have any number of investment choices in it, and often they will run the range of something like an S&P 500 index to others that have stocks and bonds or maybe just a bond fund that may even have other options that are more specifically tailored to certain sectors of the market or investment strategies. So you just have to look at what's available to you inside the deferred comp so you can pick the investment solution that is more consistent with what you're looking for. The S&P 500 is just the 500 of the largest companies here in the United States across a number of different sectors of the economy and it's generally seen when people talk about the market and sometimes the time of the Dow Jones which is 30 stocks more often are talking about a broader index, like the S&P 500 and so what you probably have inside the deferred comp is something similar to that. If not exactly that.

But I think anytime were talking about a deferred comp plan or a 401(k) where there's a limited universe of investment options you need to get familiar with the investment options available to you inside your plan because they will vary from plan to plan. So if you've not been given that overview or detailed description of what you had to choose from.

I go back to your the HR department or whoever handles these types of plans and asked them to connect you with somebody with the plan administrator who can give you an overview of the investment solutions you have available to you so you can pick something that's consistent with your goals and objectives and really helps you move in the direction you're trying to go. It's great question though, and if if after you have that conversation you have other questions, don't hesitate to give us a call Tracy, we appreciate that very much. Thank you very much for calling in today and Rob speaking of calling you. Not everyone calls and sometimes people send us an email of the address for that.

If you have a brief email for Rob is questions@moneywise.org here's one that we just got today from Ruth in Dallas. She says I'm an authorized user on our credit, credit card account but I'm the co-owner listed on two mortgages we have. If my husband were to pass away with my credit score be bolstered by the mortgage payment history or is it only based on credit card payment history. Yeah that's a good it's a good question Ruth, a bottom line is if you are a co-owner on that mortgage, meaning the mortgages in both your name and your husband's name, then that is credit file is being reported to your credit report at least one of them. Perhaps all three of the credit bureaus and so regardless of whether your husband is living or he passes away.

You are receiving the information with regard to the status of your payments. Are you in on time payer and whether that's on time each month that is being reported to your credit file irrespective of of him with regard to the authorized user on the credit card accounts.

In some cases that's reported that to your credit report and in other cases, it is not so you would need to call the credit card company and ask them who will whether or not as an authorized user is being reported to your credit file. In addition to his or his only just so you know now.

One other point here with regard to this question because you're asking about what happens following your husband's death.

Just so you know if this is the only credit card account you have and you're just the authorized user and there's not any in your name solely because we don't typically see joint credit cards, although they do exist, then you need to understand that if something were to happen, your husband, that account will be closed and you wouldn't have access to it anymore so you probably need to have a card in your your name or find one of the companies that offers a joint credit card but at the very least that would give you the ability to continue charging you if something were to happen to your husband at that point and we appreciate that Ruth and we hope you are there to hear it. And again if you have a brief question for Rob. Just a couple of lines. Feel free to send that along we get those just as quickly as we can. questions@moneywise.org questions@moneywise.org and whatever previous colors I think was Tracy from the Chicago area mentioned the previous host of this radio radio program that would've been one Howard Dayton yes compass ministries and a interestingly Howard will be joining us on tomorrow's program and we always look forward to that.

We always look forward to that and we may need to get an update on exactly how many push-ups, he's doing on his 4 mile morning malloc last report. Steve was at its north of 500 J yet and that we should point out that Howard and and we love this guy and he just really likes. He just likes us but Howard is past seven daily sleep there, but he does 100 push-ups in the driveway that he walks a mile he stopped, he does another hundred that he wants a mile ultimately he walks 4.2 miles every day, and is a total of 500 push-ups. It's now unbelievable.

Unbelievable. It's incredible and I think we need video and with that time moneywise will I was a partnership between Moody radio and moneywise media. Thanks so much for listening and for your financial help that keeps us on the year. I have a great remainder of the day. Join us again tomorrow