Great Verses about Money

No, we often hear the world's version of wise sayings about money. A good example is too many people spend money they haven't learned to buy things they don't want to impress people they don't like.

But why don't we go right to source the 50 right on the money sent to their vice president Rob West shares timeless versus about your finances straight not today's edition of moneywise live and recorded so don't try to call them but also don't try to somewhere else the ground I think you enjoyed about money not having first come from the Bible would well more like impossible Steve with more than 2300 verses about money and possessions distributed throughout so many of the Bibles 66 books, old and new Testaments. I think it's safe to say God's word covers it all and it does give us the wisdom we need to manage money wisely and to be good stewards of God's resources. Now we can cover the wall but you have a shortlist for yes I do. But first let me say that every verse about money in the Bible will have meaning for us. At some point in our lives.

So these aren't the most important were the only ones we need to learn about their good starting point if you want to learn what God says about money. Okay, fair enough. I was first let's start with Matthew 624 no one can serve two masters for either he will hate the one and love the other, he will be devoted to the one and despise the other. You cannot serve God and money. Now, this verse is obviously about money, but it goes deeper than that.

It's also about idolatry in any form. Anything that comes between you and God. That could be your work hobby. Even food your family. John Calvin wrote man's nature, so to speak is a perpetual factory of Eitel's" it just happens that money is often our idol of choice, but you have to be on guard against putting anything in your life ahead of God whom you are to love with all your heart and all your soul and all your mind.

Great reminder are and that from Matthew 22. What's next well let's follow up with Hebrews 13 five.

It reads, keep your life free from the love of money and be content with what you have, for he has said I will never leave you nor forsake you now that not only does this verse imply that the love of money will bring discontent.

It also has a nuance that some people miss. It's a gentle rebuke, but it's also a promise if you avoid the love of money you will be content. And that's possible because God promises to always provide for our needs is a great New Testament versus how about something from the Old Testament. Sure, let's look at Deuteronomy 818, you'll know it well you shall remember the Lord your God, for it is he who gives you the power to get wealth, that he may confirm his covenant that he swore to your fathers, as it is this day that were no different than the nation of Israel. Steve God knew that if he blessed us with wealth. We have the tendency to think that it came from our own effort and cleverness, we need to be constantly reminded that he gives us everything and that even our skills and abilities to prosper come from God alone had a great reminder. Now I've heard that of the book of Proverbs has a few things to say about money anything for us there. It certainly does. Let's start with Proverbs 1311 wealth gained hastily will dwindle, but whoever gathers little by little will increase it. It's interesting that something written thousands of years ago before the first lottery ticket was sold could have such profound meaning today that this verse is a warning against the get-rich-quick mentality. It means that if you haven't acquired the wisdom to amass wealth on a slow and steady basis. You won't have the wisdom to manage it and it will disappear possibly ruining your life in the process. I love that and so very very practical. I would look what happens to many of our if not most of our lottery winners. That's exactly right. And I what else you force well no better place to look. Then the 10 Commandments for our final verse, Exodus 2017 to be exact. You shall not covet your neighbor's house. You shall not covet your neighbor's wife, or his male servant, or his female servant, or his ox, or his donkey, or anything that belongs to your neighbor. This Steve is a warning against the sin of envy, something that perhaps isn't preached enough from the pulpit. Today we live in a culture that exalts MB that tells us it's not only okay to want what others have, but were entitled to it now. Aside from that, just being foolish on our part. Why would God have a problem with that.

It's because envy is a sign that you're not satisfied with his provision for you. We need to guard ourselves moneywise live Rob West you can only send email question my address is questions moneywise.back 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 if you need investing.

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Let's see, Sioux City, Iowa. Sounds like a good place to camp out a Gloria what's on your mind retiring here out and I have paid up on have a bill like that, but I got little wine at my current job and then I will have an investment account that my 13 year: eight I changed John had May 0401 that I moved over negatively to an investment account. Should I roll my account can gather like yeah well assuming the investment account that you have now is an IRA traditional IRA, which I would assume it is, then you can absolutely combine them you would roll the current 401(k) out once you separate from the company into that same IRA.

Those funds would then be managed inside that account. The benefit is number one. It's a bit more simple. We only have one account to track one statement and go just creates for an easier situation. Secondly, it allows you to not have duplicate investments, but really manage the money inside that one account, a lot of times, with a smaller account you don't have is access to as many investment options. Some mutual funds might have minimums that you don't meet depending upon the size of the account that kind of thing wears when everything's combined into one that you can manage it and have perhaps more investment options at your disposal so you on that would be the way to go. You certainly could keep them separate. You can have more than one IRA. If there was a reason you wanted to do that, but I'd say just for simplicity sake. I would combine the network when the interest from the principal part of it send you a check each month or yeah absolutely so what you would do as you would just set up. In this case an automatic withdrawal of a certain amount each month and so I would recommend in the typical rule of thumb is to say, you probably don't want to draw out more than 4%. If it all possible. That's good to be a number that you should be able to maintain with the proper investment allocation. Given that you are living on it in terms of drawing income so you want to have some stock exposure, but not an inordinate amount because you want to be on the more conservative into the investment spectrum but that growth component. While the markets doing well would allow you to continue to see those kinds of returns of 4% and hopefully the goal would be that you wouldn't take out a principal you'd be able to just live off the dividends and the appreciation in the interest inside the account but yet in terms of the mechanics of actually getting that money you would just let them know that you want to take a withdrawal of a certain amount each month they'd send you a check or do an automatic transfer out of the cash account inside the IRA and then yell at the end of the year you would end up paying taxes on that as income as that money comes out great.

Very good, Gloria. Thank you for going. Let's continue on down to Florida and Linda what's your situation. Hi Mike, I really enjoy the flight. So I will try to date and I hear you make a selection of I am by copycat because you take care my mother and working a couple years ago and we with the story up with me if that get Social Security check, and have been out of work now full complement at what I'm trying to do.

Try to get back into work. It was something that was going on with the job. I don't know why I click on I would that work will allow a couple blocks I say what might want time to do if money I get new car year and I have been able to banish take take care of the payment summation. But what I want to know is that if any, weight that I can, work at all.

Also, while not working try to get back which I am an Active flight worker comp to look at people long Catholic I get paid I want to pay them multicultural below with my card no I see all that to show I want you advice about what to suggest that how do I have the home make a whole lot. Linda is the student loan federal loan was a private loan yet. Would you know if it was said, came from US Department of education is a federal loan or to come from a private lender. Okay, so that would give you. Typically, you would have some good repayment, flexible repayment options there. So I do I hear you correctly, as you're looking for a temporary reduction in the amount you want to pay back until you start working and then you increase it or will re-looking for something different yet okay so I would call the loan servicer and let them know that you like to explore the flexible repayment options. Typically, there will be an income-based repayment option that you could take advantage of that would be scaled to your income and that would allow you perhaps to reduce the amount that you're sending in for this period of time.

The key will be lender that, as soon as you resume work that payment will go back up. That's a good thing because ultimately we want to get this paid off right and so I know you're focused on that as well so I would call the servicer let them know that you want to explore income-based repayment you're looking for reduction in the amount that you're sending each month even though you want to keep it current and that you plan to start work again very soon.

And at that point you will send more and they should be able to work with you and let you know exactly what your options are and then the goal will be to get this thing paid off as quick as you can and I'm delighted to hear that you can have some extra income coming in. Lord willing, which will allow you to do just that, Linda. We appreciate your phone call today. We wish you well and don't string that car loan out any longer than needed.

If you find that you have some extra cash after you've addressed your other bills and even that student loan try to pay that off early. Save yourself some interest along the way we again were glad that you called today thank you very much Rob. I have a couple of emails. Maybe we could attack these can call this one calls from a rather comes from Cyrus since dear Robin, Steve, I heard you talking about saving money. However, I didn't hear you advise anyone about quitting smoking or drinking to save money. They good ways to save some money.

I think they sure are Cyrus.

Here's the thing. You know what we want to save money. It always goes back to that spending plan so we need to take a hard look at everything worth spending money on and I'd pushed to the top of the list of things that aren't good for my body right up there at the top and say what can I cut out. Perhaps I can change a habit.

Perhaps I can alter my routine. Perhaps I can cancel something, whether it's putting smoking your body. Or maybe it's consuming something through the subscription on the television that you don't need as well. It's not edifying to you either doesn't matter what it is. I think the key is how can we honor God with what he is entrusted to us and that means we start by recognizing were steward or manager of his resources and secondly that one of the keys to financial success is living well within our means. We can't do that without a spending plan. It's a really the first step of a spending plan Stevens as you know, to track everything worth spending and then take a hard look at things we can do without and begin to cut back on those, of course, will look not only at the bills, but really the most important opportunities for savings typically come in and what we call the discretionary areas of the spending that we don't get a bill for every month and we may be able to make some real changes there when we do. The goal is to try to free up margin excess beyond our monthly expenses so that we can redirect that first emergency savings and then beyond that, consider we want to do long-term savings to retirement to an increase or giving one accelerator debt payoff. We have another goal we'd like to say for maybe the purchase of a house or college for the kids. Whatever it might be.

That's really the key to I think really being God honoring in the series we manage his money service. We appreciate that. Here's a quick one from Claude dear Rob, I hear you talk a lot about being debt-free and making that our goal however can God still use me if I'm not. Oh, absolutely no borrowing is not a sin that we see clear warnings in Scripture about the use of debt we need to heed those. I think we should strive to eliminate debt over time.

Starting with the consumer data and ultimately including our home by the time we reach retirement if not sooner become the Lord use you while you have some debt absolutely so be open to what he has in store for you. Hold everything you have loosely realize there's God's part and theirs are part you trust him to do his and you stay in God's word take these principles we talked about here moneywise live put them into practice and that your part. Yeah, we hope that our encouragement to get out of debt and to be in the spending plan that these things are not God's ultimate for you here on earth. Those are God's principles for living a balanced and effective lifestyle, but I don't think we get to heaven. That's going to be impressed or not impressed with whether or not your checkbook balanced, but rather whether you love one another and I whether you serve God and put him first in God can use us in any form any fashion, any condition you're listening to moneywise live with pause for another brief break, but we won't be going anywhere shouldn't to stick. 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, how 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.org it's everything to match the gears for lost her parents very, very young age. If I'm telling you correctly, I believe I remember it to be six years out that some will trick your mind, not a good thing the promise that would be a good thing is all things work together all come from to such different backgrounds that cause such dysfunction in each of our lives. You are very very familiar with mining you really are with as well. I come from childhood victimization key on the other hand, times from a childhood where there was a great loss. His brother in a fire together and I keep the loan survived in an instant family actually… Right so much healing to horrible pain every single day single.you've been listening to word raise this program to request 57857/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 it's moneywise live with less time Steve Moore reminding you one of the key principles to understanding God's perspective and money and finances, is that God owns all not just the 10% put in the plate as it goes by, but in reality God owns it all and what we have we have as stewards or managers, then God's word goes on to give us principles and practices that will help us do with our money. What he wants us to do with their money and quite often yes indeed, he allows us to do what we want.

He's a generous God, he doesn't have a plan for every penny you have. But he does have a financial plan for your life that we can help you 800-525-7000. Let's go to hell and I think from Minnesota. Helen, thanks for your patience. How can we help you with your greater hey thank you, 64 years old and during mobile home. There would be close to my house and want you my 401(k) money to put $10,000 down our 20,002 by an outright.

I don't know if that's a good investment ID think my 401(k) and sitting in my account. I retired two years ago fell. I'm wondering if that would be a light think and you are completely well. I would love to weigh into this and couple questions come to mind here. First of all, what is your plan in terms of this particular lot are you planning to relocate there make your primary residence and secondly are you planning to do here. You say you wanted to purchase a mobile home.

Are you thinking of building tell me a little bit about where you're headed mobile home for a home.

I see okay very good so you buy the lot and then you would purchase the mobile home and break down the cost of those two for me. Okay I mobile home park neighborhood and I don't know what else to say. Cost.

What would you have to spend to purchase that 20,000 okay so you said you have a 401(k) with about 27,000 and it and then do you have some savings.

In addition to that, Helen will have any three income currently on Social Security.

If you know anyone extracting and calculating health affect unwanted retirement plan from the path and will have some emergency savings set aside if something unexpected were to come down okay yeah no I think we need to backup for second and just look at that what you have in and given that you are both retired. You know, the key is I don't want you to get over extended beyond what you already are now so the thought that we might you buy a vacation home. We don't have any emergency savings. We have minimal retirement savings. You're probably living paycheck to paycheck just doesn't sound like a good idea to me at this point, but what I'd rather you do is really focused on shoring up what you got. Now, in the sense that you have some good stable income between the Social Security disability the TSP in the retirement plan that's great, but we've got to right size the lifestyle such that you would have some margin on a monthly basis to be able to build up an emergency fund, I'd love for you to have 3 to 6 months, preferably a full six months worth of expenses in a liquid savings account in this retirement season so that if something came help event or something unexpected with your primary residence. That was a major repair you'd have the resources to go to and then when you go visit your sister and you spend time with family, which is great. Let's budget for it. Let's say Ford and perhaps get an a or B and PR I get a hotel room close by, or maybe even stay with some family but I don't think now is the time to be taking on a second property. Let's focus on shoring up that savings account Helen God bless you, thank you for calling in today. We hope that helps. 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 design 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 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 hi my name is Aaron production assistant at Moody radio Moody radio first of the week is found in Mark 1124 25 therefore I tell you whatever you ask for in prayer, believe that you have received yours and when you stand praying, if you hold anything against anyone father in heaven may forgive you your sins. 1120 radio first week outline and describe any radio it's got to focus on Christ, starting with word that also carries over into the father also be there for somebody might seek like this where you call one 800 DL Moody radio. Many people adopt an attitude toward marriage and finances that 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 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 available and money wise live.org GOP president Herman Cain has died after battling the coronavirus. He was 74. The former pizza company executive had been an outspoken backer of the president and was named by the campaign as a cochair of black voices were drunk. Tropical storm Isaias battering Puerto Rico as it continues on a forecast trek toward the US mainland Congress is awarded the Congressional Gold medal.

Its highest honor for surviving crew members of the USS Indianapolis. That's the ship the delivered key components of the first nuclear bomb was later sunk by Japan during World War II, but a total of 879 men, the largest single disaster at C U.S. Navy history while for closing mix that I'll drop 225 points today. The NASDAQ game, 44, the S&P was off a dozen. This is a sovereign use wise live program all about God willing God's direction when it comes to money our finances off topic where we start.

Obviously Celeste began. Let's go to Ohio and Tim, thanks for holding buddy how can we help user all thank you for your program have placed their I am 68 heard about not being able to stand money to charitable organizations directly from my IRA. Yes. Then I heard that that is age 70 1/2 that. So, well, yeah, absolutely. So the question is, what did you say your age was right now. Okay, so based on the new secure act that was signed into law by Pres. Trump in the December of the required minimum distribution ages been pushed out and so it's now 72 instead of 70 1/2. Assuming you turn 70 1/2 after December 31 of 2019 meeting in 2020 and beyond. Which of course be your situation so that would be 72 that you have to begin taking that RMD which means you have a little longer for that money to grow. If you don't need it now when you have to start taking that RMD. What are your options. Yeah, you can just take it out, but if you don't need it, or if you want to replace your giving that you're already doing. Or perhaps add additional giving you can do it right out of the IRA. It's called it's called a qualified charitable distribution and it does satisfy a required minimum distribution so long as the qualified distribution that is at least the amount of your RMD or that, plus any additional funds you take out equaled the minimum and basically the way you do that to him as you would contact your IRA custodian you'd want to let them know you want to do a Q CD they'll have a form that you'd fill out letting them know how much you want to send in to what 501(c)(3) charity you want to call the ministry or nonprofit.

Tell them that it's coming and they'll give you whatever information you need from them and then they will receive that amount. The benefit is you satisfied the RMD.

They don't have to pay any tax on it, so they realize the full benefit of what was transferred from the IRA, as opposed to you taking it paying tax on it and then sending it such a way to get more money working for the ministry and again you satisfy the RMD if you have to curb any dollars you were spent sending to that ministry out of your own checking account you could do that and replace it with the money coming through the Q CD or it could be in addition to that's of course entirely up to you is that all make sense though yes I'm not worried about already taking distributions okay but my question is at what age can I start, I seeped under the secure.

You can still do a Q CD qualified charitable distribution at age 70 1/2, not the new age of 72 for the RMD requirement.

Of course at that age it wouldn't satisfy your required minimum distribution because of course there isn't one yet, but I still think it's a great way to give than we have course appreciate your calling today to him.

Thanks very much and God bless Fort Lauderdale, Florida hello Brian, how can we help you hello there my call. Sure, I am 56 1/2 I get everybody that he but I'm 56 1/2 and my question relates to goal one is how to find out what you will be receiving credit Leno as things are standing today from Social Security based on when you retire. I don't know if there's a way to find that out. I thought a solid document they came from somebody that had said hey how much you receive a month at this point, so I wanted to have that information and the reason is that right now I'm self-employed. Have some control over what I'm putting in the so security and then the second question I'll get. After this one. But how would you find that out yet Easiest Way, Brian to stand top of your Social Security benefits is to sign up for an online account at my Social Security account and you do that in SSA.gov is your 18 years old and you have a Social Security number and mailing address and email address. You can sign up and then you'll receive estimates of your future benefits based on your real earnings so you'll see your latest statement and then you can review your earnings history. You can also use that account to get a replacement Social Security card, things like that but that's gonna be the best way for you to project your Social Security benefits each year. Online as you earn and build credits toward ultimately what you learn as a Social Security payout and the other thing is I have very little and not the company for a while have very little IRA it's deferred later.

However, it works. It's her somebody would go to Taconic counsel you like to have my own business now on how much to put into an IRA like to think all of the different ramifications of what might be best yet in terms of how much you should be putting a way to achieve a retirement goal that you have yet yes Brian I would be a retirement or financial planner. Essentially, any financial planner does the comprehensive planning. Not necessarily just selling products but really doing planning that you would pay for based on an hourly rate would be somebody who can help you with that.

That would be well worth the time and expense and then updated every couple years, with whatever changes are taking place. The best way to find somebody like that would be to go to our website moneywise live.org.

Click on find a CK and connect with a couple of CK's there in Fort Lauderdale. Let them know you want to do some retirement planning on a fee basis and they can help you put that in place. I think you be glad you did it.

Rob Darcy is in Randolph, Ohio.

We have tiny bit of time, Darcy.

I'm afraid to give it to us quickly place one… Agree on tithing, well Yeltsin did nothing like a softball here Darcy with the 60 seconds left for just getting that's a great question. You know, here's the thing. I mean, the Lord knows our hearts right and he wants oneness in the marriage relationship so we don't want this to be a stumbling block, a wedge that comes between you and there's a disagreement so I think those spouse who wants to tied with that is that you in this situation, okay, but what I would do is I would say to my husband. I would say listen, this is something that's important to me. But I also recognize you are you disagree on this and and what I'd like to do is first of all say I don't want to go around you or against you. If that this is the decision you make is the head of our household. That's what were going to do. And the Lord knows your heart.

Darcy, I believe, and so I would proceed accordingly and feel good about that and certainly be praying that the Lord would capture his heart in this area of giving, but perhaps one thing you could do which I know Larry Burket would often suggest is to say, what if we gave a smaller amount and what if we took a period of time, maybe six months or 12 months.

We said work in a given amount that you and I both agree on.

Again, this is not me going around you, but perhaps a smaller percentage, three or 5% working to trust the Lord in Malachi 310 where he said he could tell we could test them in this and working a say in six months or 12 months were willing to look back and say are we better off for did this impact us negatively in terms of this giving and then be honestly willing together as a couple to reevaluate whether we want to continue to do that moving forward. That would just be one way for you all to come together to have oneness in this area and perhaps begin take us taking a step toward giving.

Even if it's not ultimately what you like to be doing and let's just pray and ask the Lord to do a work in both of your lives as you seek to honor him and and certainly have oneness in your marriage relationship.

Wonderful answer, Rob Darcy, I think this is going to bless both of you in the long term. Don't worry about the money for say God doesn't need your money, your heart, something he has yours will be back with more after this. It's moneywise live from 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, how 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.org hi I'm very tired. I'm here to help you understand the urgency and how fun it is a share your faith in every opportunity. Confusion is the order of the day and from that springs every negative emotion from fear and dread to anger and rage and questions demanding answers from every side will you know whose side are you on which there is only one correct answer I'm on God's side. I know that God made us in his own image. He loves us all the same.

His course and love our neighbors as ourselves and ask him to forgive us as we forgive those who are around us.

When you honor God and live for his purpose.

He makes everything in your life for good. But the further you move away from God. The further you move away from the happiness of the blessings of God. The only solution to America's problems of turning your country back. There is nothing more exciting than knowing God just use you.

At least somebody join us Saturday night America friend Lori were shopping with her grandson in a Christian bookstore good Friday painting of Jesus nailed to the cross in her grandson said grandma looking we buy. It's the last one. If we don't find someone else will get that story about the boys right idea but Jesus yours when you can see, the Bible says call upon the Lord while he is near and it's is the right time is now. Today is a day of celebration. Now you may know a lot about Jesus, you have a religion.

It's all about Jesus. But maybe it never made Jesus, your Savior from your sin you've never been to the cross where he died to pay for your sin and said Jesus. This is for me there for me right now. All my hopes and what you did on the cross for me, like the Bible says the right time is now. What better time than this very time when he died for you and rose again to give you life. Contact us at 888 need him or chat about Jesus.com short time now gone. Here's a great deal more about our money than most of us imagine anything.

Jesus says more about our use of money and possessions and about anything else, including both heaven and hell in managing God's money on the Randy Elmore and breaks it all down in a simple and easy to follow format that makes it the perfect reference to look you are interested in gaining a solid biblical understanding of money, possessions and eternity managing God's money is available when you store moneywise live.org moneywise live with Rob West. I'm really happy to have you there and really Reminds us that by this all men will know that you were my staples. If you have love for one another and that pretty much covers it. Not because your bank account is balanced or not, because your car is paid off for whatever but big because of love, which reaches out and impacts everyone around us and allows others to see Christ in us will screw our phones, Miami, Florida Jeanette what your question today for Rob West wondering how many about. How can collect and bonfire six months saving tithing and what tax-free was looking into what would we be impacting what should we be looking at. Well the person we need to do Jeanette. By the way, congratulations on getting all those pieces in place. I love the fact that your givers and the fact you're saving for the long term you got your emergency fund clearly are controlling your lifestyle living within your means and you built up some excess beyond that, if you were to think about the goals and objectives that you have both short-term and long-term. What we just say the purpose of this money is earmarked it for anything specific career change. Okay, so it would cut my knee for him to go to call me yeah well that's the kind of thing I'm looking for. You know, and I think it's really important that we have a time. You and your husband where you're coming together regularly lease monthly if not more often than that to really think about your what's going on in your life and in your finances and how we can take this tool that God has given us called money and use that to accomplish his purposes in our lives.

Good news is he gives us plenty of principles to follow to know how to work that out. And these are the kinds of things we need to be exploring because if we're gonna be using this either to cover a gap in income that happens as he makes this transition, or you need some additional he needs some additional schooling. It would require that you take a far different approach with regard to where this money is is is positioned over the next several years.

Then if you said you know what this is money that we're not going to touch for the next 10 years or more. So I think you need to do some homework there if it was short-term money five years or less. I'd probably be looking at you where to place it. What type of account also be looking at some very conservative investments because at that point. It's about the return of your capital, not the return on your C you're not thinking as much about return as you are just earmarking it for that purpose and setting aside and making sure it's ready to go if you have kids in this money is for college wide drop it in the 529 and and invest it if it's money that you say you know what we just want to say for the future but were committed to not touching it for the next 10 years.

I'd probably encourage you to start putting it into some very high quality, low cost ETF's with an index fund portfolio where you own a good cross-section of the stock and bond market and just begin to systematically adding to it so I think you got a little bit of homework to do. Jeanette just to define the purpose of these funds and once you really have some clarity on that. I think then we can get into what the specific investment strategy should be or just where the money should be parked if for some reason it's can be shorter-term makes a yeah so I'm thinking yeah ETF stands for exchange traded fund and think of it like a basket of investments or a mutual fund and one of the benefits of ETF's for folks who have less money and 30,000 still significant amount of money but it's not 100 or 200,000 were you'd want to buy individual stocks and so with an exchange traded fund portfolio. You can own the market when I mean by that is, you can buy indexes that mirrored the movement of the markets but the stock in the bond market and so you can own hundreds of investments not trying to pick a winner and just follow the movement of the market and you can do that through something like the Schwab intelligent portfolios.

If you go to should just go online. Type in Schwab intelligent portfolios or one of the Robo advisors like betterment of those would all through a question-and-answer process generate a an indexed portfolio using exchange traded funds. It's very low cost and you would just capture the movement of the market, but if the that really requires that the time horizon for this money is. I would say 10 years or more, because what you don't want is to need this money in the next 3 to 5 years and it happens to be at a time you were perhaps more aggressively invested in you should've been based on the time horizon. So that's why think you need to start by defining the purpose of it before you do anything, Jeanette. We hope that helps. Thanks so much for calling that. Let's quickly go to Muncie, Indiana hey Bill, thanks for holding what your question for Rob West.

So, I'm the executor of my mom. The state yes, and she's 80 years old is not died, and she wants to go over the different things that need to be done and I'm not exactly sure to say okay where's that's where live, you know, so I mean she's more than willing to talk all through all that she's been thrown away tax forms from 1955 electric bills from five years ago, so she's clear a lot of the stuff out yes but I don't know if there's like a checklist or some I okay need this where is this that where is this, that and then sure in what order you know when she passes. Yes I do all this stuff so that well I certainly understand that Bill and I appreciate you thinking about this ahead of time and it's it's nice that you're in a situation where your mom is willing to engage in this discussion, so now's the time to certainly do that to make sure that you can serve her well as you probably know executor, which is basically a personal representative it's it's the person named in the will to carry out the terms of the well so you'll oversee the settling of the state paying any estate, not the state. Settling of the estate, paying any debts or taxes on behalf of the estate, making sure the people named in the will that are beneficiaries you and perhaps anyone else receive their inheritances and your duties don't officially start until her passing. However, there are things you can do to be prepared. And I think that's the Genesis of your question. First thing I want to know is where is the will located so you want to make sure you know that. And if it was created with the help of an attorney.

What is the attorney's name. What's the law firm.

What's the contact information you're gonna want to know any professional advisors that you should work with to settle the estate not only attorneys but accountants, financial planners, investment professionals and then does the person that named you as executor. In this case your mom have any general wishes for her state that are laid out in the will and then you'd certainly want to ask any questions you have about your responsibilities ahead of time. You could even talk to the attorney. If there was one and yet I think those are kind of the big rocks if you will admit. Of course you could, in addition to talking to her attorney go online and you do a Google search for questions to ask. As an executor. Things like that you'll find just a number of resources out there. Hopefully she has a listing, but perhaps one of things you could do now is go ahead and make sure all the important papers and information are in one place so that you can access them quickly. I mentioned the will.

Earlier but things like bank account information, credit card accounts any mortgage info any other debts and then as I mentioned wishes that are in the will.

Things like what would she like for funeral planning and and how should she want the funeral to be carried out things like that so those are probably the young, the lion share of them and then I think beyond what we talked about today calling her attorney seeing if there's a checklist or something you can read up on and then just doing some general online searching.

If you do all of that, I think you you will be prepared to handle this. Assuming things are overly complex. I was at some Bill. My big problem is she's got a credit card that she thought she should but she charges that want to start getting up and get it. She campaigned she'll do something crazy and paid off like one time she cashed out alike insurance policy and pay off her credit card and then years later it's back up to the point where driver crazies.

She took a loan against your remaining life insurance policy so her house doesn't work that much money. Now the only income she has is so scary, so sometimes when you know something major break and shift you the credit card you don't fix it. Septic problems that that matter might want my meter quote into if she ends up a balance on this credit card and there's not enough money in her estate to barrier in me and my sisters and brothers are out to pick up money to pay that burial fee.

What happens when MasterCard come to call yeah well you know that unfortunately the creditors are going to be out of luck. In that situation. So when somebody dies, the estate pays the credit card balances another debts. But when they die with more debts than assets to pay them. Generally speaking, the creditors just don't get paid unless there's somebody else attached to those accounts. I think one of the things, know that you can do to help her finish well and manage the resources God has given her come alongside her to help her do some planning.

Now I getting her on a budget helping her understand how to control the flow of money and making sure she doesn't go on these, wild up and down charging up paying down and making poor decisions. So if you can lean into that she's willing to do that with you that will go a long way and answer the question. You may be thinking or wondering about. Not that Rob didn't but a bill you and your sister would not be obligated to pay off her debts, MasterCard or whatever. After she passes.

If indeed there just hurt debts sound like a good son.

So hang in there, do the best you can. We understand that this isn't always easy when it comes to parents think so much and thank you again for tuning in listing you for being a part of the program moneywise live as a partnership between Moody radio and moneywise media and you are listeners arrive last time Steve Moore hoping you and yours have a wonderful remainder of the day, then join us again next