Not to Miss Giving Opportunities in 2020

Second Corinthians 96 poses both a warning and a challenge to Christians.

It reads whoever sows sparingly will also reap sparingly, and whoever sows bountifully will also reap no one. Reaching the end of life says you know I wish I all want to be generous toward God's kingdom as he calls us to be today host Rob West sits down with Matt Hames of the National Christian foundation to find out why this easier to do this here that your calls and 800-525-7000 800-525-7000 times more not to miss giving opportunities in 2020. That's next on moneywise line marketing officer at the National Christian foundation nonprofit that's helping over 25,000 families maximize the impact of their giving. That's also a good friend delighted to have him here today and Matt, good afternoon. Looking back to moneywise.

Thank you guys for having me. I'm thrilled to hear you were talking about the giving opportunities that are present here in 2020. Specifically, and as we got into the year and realize this was going to be anything but a typical year in the midst of a pandemic giving was probably for many people. The last thing on their mind and yet we said, very early and very quickly know we need to lean into that. It's a time to really think about accelerating or giving up we have the capacity as you know, it really is Robin and these accomplish that you not have throughout the year. In other times and places, but it's been real encouragement for us to see the givers that work with National Christian foundation really pressing like you said to me we got this opportunity to respond to the environment that we find ourselves faced with an attitude of abundance and scarcity. Just being reminded that God owns it all its ears and he's given it to us to steward and how can we be faithful during the season but maybe a little complicated and confusing with those things that he's given us yet. There's no question we want to be clear, there are many that are going through really challenging times, whether that's personally at jobs been eliminated hours have been cut. Maybe they been furloughed, perhaps we have a business owner were a small business is just been decimated and those are realities that very difficult time and yet I think that that underscores even more the idea that those who have more than they need should be leaning in during the season for sure. And that really is that the reality were hearing a lot of stories working with a lot of givers who have been in one circumstance or situation coming out of 2019 and now found himself in a different environment. Now but tough, yet most certainly, if you find yourself in a situation this year where it's wound up really turning out differently than you thought it might have. As she sat in late March early April. There are some opportunity for you.

One of my predecessors and good friend and peer Steve Moore's as the late Larry Burket, and Larry was the one of the founders of the National Christian foundation before we dive in math to some of the specific scenarios that you're seeing this year. Frankly some compelling giving opportunities that have been in part brought about by the cares act this year. Talk about the work of NCF and what you do, so NCF is been around really is.

As you mentioned since the early 1980s. He had Larry Burket, Ron blue and Terry Parker came together to create this entity that now today we sit in over 30 cities across the country. 60+ relationship managers that really serve as a guide to come alongside families are looking to be faithful and generous with that which God entrusted him so developing giving strategies and think about how they might again be good stewards as much of what we do. It sure isn't helping you be a wise giver is where NCF can really help in NCF giving.com Matt we just got about a minute before her first break so I want to begin to explore some of these scenarios.

Let's start with one that really applies to 90% of our listeners and the reason is 90% of you will take the standard deduction this year, but the cares act is afforded you a unique opportunity yet to try for sure. So givers to take the standard deduction with personal tax return are entitled to deduct up to $300 from their income for cash gifts made in 2020 churches and public charities. Now that's in addition to the standard deduction. So when you think about just a straight up $300 deduction.

You can take we really want to encourage everyone to be diligent in doing that. And of course with any conversation or generosity. This one specifically know it's easy to look first and we will encourage people to consider their church or charities at their already supporting just get directly $300 deduction faculty. That's great well just around the corner after the break will begin the lean into some of the specific scenarios that Matt and the team in NCF are seeing some great opportunities for you to take advantage of this year and be very very generous NCF stands for National Christian foundation and if you're interested in pointedly maximizing your donations to Christian organizations around the country or nonprofits of any type there. The folks you want to tell you were going to take a brief pause and will come back and take some calls later in the program. 800-525-7000 will be right 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. You have money in a retirement account for just a general investing. You know, the stock market sometimes possible to enjoy both profit and peace of mind and investing no matter what's happening in. You can see a short video webinar on that topic.

Sound mind investing.org since 1990 sound mind investing his thoughts offer financial wisdom for living well sound mind investing.RG, and I read an interesting facts the other day. Did you know that walking for just two minutes each hour can increase your lifespan. Handwashing can save more lives than the most costly medical intervention. Did you know that setting simple limits can grow a child's attention span as well as help them control impulses, even shifting your position can boost your ability to solve problems is tell me sweat the small stuff small choices and disciplined way but my favorite small discipline 90 tells me number my days count them, invested them as will the people you meet every day.

Remember God's small stuff we say your words. It's great advice from the word of God.

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The churches that they love and it's really just that, Matt.

It's about creative giving and that means you have to have a plan but that also means in many cases you need to have somebody to walk alongside you. Like the team it NCF to make sure that you're not missing opportunities is not right you absolutely probably what we we really take seriously the influence that were entrusted with buyer givers to come alongside them and clearly were not telling them what to do with their money, but to the extent they're looking to have a biblical foundation for the strategy that they imply are applied to their giving. We will walk alongside them and help guide them in thinking through how they're giving aligns not only with what gospel in their hearts and their passions. The causes that they believe in and want to see advanced their legacy to family wealth and resources God entrusted him with. So that's that's really a big part of what we do. I know it is that it happens not only nationally but also locally with 30 local teams that you can connect with and you can find a local office when you visit NCF giving.com Matt were talking today about some specific scenarios that you're seeing, especially here in the year 2020. As a result of the pandemic in the midst of the cares act, which actually has enabled some of these unique giving opportunities. I'd love to begin to unpack those and perhaps one of those scenarios that you're seeing this year, which was completely unexpected. Was that folks are sitting with some significant gains in their investment accounts yet for sure. Write me we are. You just talk about this on a daily basis on the show for sure but but where we thought we may be this time back in March when you look at what the market did in March and in utero see how it responded in April and now as we move into fourth quarter. Your local Lord only knows where things wind up coming into the election in November, but but there are a lot of folks that have got gains in their stock portfolios that that are significant.

Believe it or not, you know the you just a year over year numbers for the S&P you know your Europe north of 1012% depending on how things shake out on a day-to-day basis, year-over-year, and the NASDAQ is is not meaningful even more than that to get tech stock so there's not opportunity to give appreciated securities from your stock portfolio if that's something that you may be able to talk to the listener out there is saying why what I want to do that and how do I go about doing so. If you got if you got investments in up in a taxable brokerage account just for example in you you bought, you know what stock it at $10 a share and now it's worth $20 a share just for simple example if you were to sell that stock on your own. You can pay capital gains tax on that $10 profit you just made. But in the event you can gift that security that stock in kind to a charity then the charity can sell that and not have to pay the capital gains tax on that gain you get the deduction for the full value of the gift, but you're not having to pay the tax on the capital gains very good. And how can NCF help with a transaction like that. So would you want givers that use their giving fund or donor advised fund to gift appreciated securities in that way. So they're looking at their stock portfolios going and we could get out of cash. Or we could look at assets that we have that I have got taxes embedded in them and then gift those to NCF and we can facilitate the liquidation of that in the neck and then give away the proceeds as they advise their giving fund. It's an incredible opportunity. You don't want to miss this year. Another one Matt that has been brought about by the cares act is this new 100% deduction of donations of up to 100% of adjusted gross income for 2020.

That's up from 60% throwing out some terms here want you to find this opportunity feel isolated in a normal context. In a normal year or an individual can deduct up to 60% of their adjusted gross income from cash gifts that they make to a charity.

So when you think about your adjusted gross income and giving from cash that's a pretty dramatic generous move if you're giving that much this year. Uniquely, because the cares act there, allowing for an additional 40% all the way up to which get you 200% of your adjusted gross income you could get away in cash this year between now and the end of 2020. It's it's it's time bound into this year, but they're trying to do is encourage generosity from taxpayers to those charities, and ministries that are on the front lines of really responding to individuals, families and businesses that have been impacted community sediment back to my coven and this would of course be for somebody whose high capacity and most people listening would say well I need that income to live on and we recognize that, but for those who have been blessed with far more than they need. This may be a unique. In fact, once-in-a-lifetime opportunity to do some serious giving mess right in much of what comes up in the context of the of the planning that we do around I got with our givers is lately. Think about their their cash and that being the only thing they could give from, but as we just mentioned with appreciated securities you can have gains in real estate.

You can have gains in stock portfolio there there other asset your business value could be increased during the season and you can give away real assets as well. So you could give way up to 30% and deduct real assets in a contribution 20% of your adjusted gross income in cash and then add on this this new cares act additional duct ability of your cash. I love that in the remaining time we have met. Let's talk about business owners for a minute because I know one of the big opportunities that the National Christian foundation is the way you conserve and walk alongside business owners and as we said in the last segment there a lot of, especially small businesses, but large major corporations that have been decimated as a result of the pandemic. On the flip side there are some businesses that have done quite well. Maybe they tighten their belts and they haven't been traveling those expense accounts are all sitting there and so they're finding themselves in a position with excess cash which creates a giving opportunity in and of itself really knows Robin we were hearing that for many givers we work with it. They didn't expect to be sitting on large cash balances coming into the end of 2020.

That surprise given all that's happened now that they're here the conversations that are being had is how can how can I be generous with what God blessed us with. Even through this this chaos and so ideas like engaging your employees, you know, talking to the other folks that work with you work for you on what causes charities, ministries of the organization may want to give to you is a great way to build community and we can have some really powerful conversations with your team as you think about generosity and love that there's another opportunity for business owners related to the value of their business which may be higher than they expected this year. As a result of the pandemic, or it may be significantly lower in either case, this may be an opportune time to do some giving.

How does that apply here so and and always would, with the caveat that you you've got a get with your your CK go your certified kingdom advisor go to FICA tax, accounting or tax professional. You want to seek their advice and counsel on this, but if you got businesses. It's appreciated unusually and you got an opportunity you can give a portion of those assets of that business away and you know you want to get someone to help you with the strategy of how to do that.

But there's an opportunity there. The flip side of it is if your business is depressed and value. If it's come down. It may be an opportunity if you were waiting to find the time to move more of your assets out of your estate onto your errors or into some type of vehicle like a trust when the values down on your business is not a bad time to look at making gifts because you can move more money out of your state quicker. That's great.

Obviously these don't apply to everyone. Matt that the idea is we want to be intentional. We want to be creative. We want to be thoughtful in terms of how we do our giving so we can give to the maximum. So often we just give out cash and fortunately only about 10% of our wealth is held in the form of cash and that's where NCF shines right absolutely no much of what we do we we got a tremendous amount of resources available folks that can can think about making what we refer to is more complex.

Gifts. Gifts of of non-cash assets so that they can mobilize more of what God's in trust should have been with us today from the National Christian foundation. You'll find them online that NCF giving that will be right back with mooring calls at 800-525-7000 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, 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 outdoor 317. Let's remind me to be grounded in God's comprehensible live be able to figure out what we're going through certain things every single thing we are on this planet.

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Click the start button moneywise live.org live last phone number is 805 five 7000 calls and questions today on any financial topic so give us a ring. We have open lines 800-525-7000. I'm Steve Moore. Let's go to Fort Wayne, Indiana Julie, thanks so much for your patience today and how can we help you click that I really enjoyed moneywise.

Thank you for taking my call. Thank you. My question is my heart and I had $1000 mortgage at 3%. We also have a $34,000 home equity line and that that 4.6 variable right now where that to pay off the house and seven years and if we pay extra on our home equity loan.

We can also get that paid off as well, but were wondering if we would save money in the long run if we refinanced and roll the two together and what you look at the way of a new term.

Julie Parton what would be the new term. If you were to blend them together in one new first mortgage. Would it be a 10 year mortgage. What you think. We would like to do it here and I know that would be like if we get the payments were low.

Where could we use that extra money that we be saving to pay it off even sooner.

Yeah well that be the only way I'd be on board with this, given that you could save quite a bit in interest not on the first mortgage, but certainly on the second you're going to need to run the amortization schedule just to see what is the total amount that you could say to make sure this is gonna make some sense. The question is what can a rate could you get on the 10 year mortgage. Let's say, what are they quoting you.

Have you gone out and shop. This 3.0 yeah you should do better than that.

If you have good credit.

Obviously you got quite a bit of equity in the home right now you with a 30 year mortgage. I've seen 2.652.7 even without discount points they go down with 15 year and even more on the 10 year some think in your 2.5% or so right now in this incredibly low interest rate environment. The question would be, let's say you were to blend our role. These two mortgages together in the form of one new first mortgage of 2 1/2%, you'd save 1/2 point on one you'd save almost to pull a little over two points on the second. The HELOC then it would be fixed. It would be a 10 year amortization loan or a term of 10 years, then what I would do is not pay that minimum payment. The question would be what would be the same payment required to get to the seven year payoff so that your keeping the term the same even though you don't have to technically and then you'd want to compare that monthly payment with the 10 year payoff to what you're currently paying today in terms of your first mortgage plus which are paying against the HELOC. Perhaps, interest only if the if the line is still open and what you wanted do first was make sure that number fits into your budget. Assuming it does, then it's a function of okay we got the same payback.

Because remember, your you're committed to sending the same amount to get to the seven year payback question would be how much are you going to save over those seven years in interest versus the cost of the refinance itself because there's gotta be a cost there on this roughly you know hundred and $5000. Let's it's 2%. That's two grand could be as much as 3%. That's $3000.

How long is going to take you to save $3000 in interest. I suspect what you find it is if you all are disciplined you can live on a budget you can afford the payment that would get you the seven year payoff. There will come a time in the next couple years were you paid back the cost of the refinance in the form of saved interest and then for the remainder of the loan you enjoy that lower total interest that's going to be paid.

So, assuming all that comes together you get the right rate with low cost meeting and not paying discount points and you keep that that the total cost of the refinance around 1 to 2% and you're committed to not extending the term to a full 10 years but committed to paying what you have to pay to get to seven that it probably is gonna make sense but I want you to check those numbers at a time, to some extent so right and shop around for 2.5 or better yet exactly what pride I could do much better than that, but yes, somewhere in that neighborhood is is what I'm expecting you'll find on the tenure mortgage Julie, thank you you you're very welcome Julie God bless you. Thanks so much, 800-525-7000. If you have a question.

The comment in conundrum you'd like to kick around with Rob West today is a great time to call Grand Rapids, Michigan Shirley, what's on your mind and down 60,000 and far that house that you never know when you need that you know the best place to park that money bank savings account 1M3 60 account credit account.

We have a bank account so that I understood correctly. Here, Shirley. When you're talking about something maturing. Did he have it in a CD that has matured so what happened to okay and regardless of what instrument was you said that investment was inside of an IRA is that right right so that's the key you want to protect the principal and you will want ready access to these funds you don't want to be locked up for any period of time right right yeah well I think your best bet right now with interest rates so low is just a high yield savings account. You're probably going to get about .6% on that right now in this current environment. I know it's not much but you is protecting the principal and access to the funds so I would just use that capital one 360 until such time as the interest rates improve check of sound mind investing.org as well for new article on right back.

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Learn practical strategies to teach those in your community conversations. It can lead to gospel transformation growing missing of Christ and with others by reading sent now available@moodypublishers.com here's a great deal more about our money than most of us imagine Jesus is more about our money and possessions and about anything else, including both heaven and hell in managing God's money on the radio and breaks it all down in a simple, easy to follow format that makes it the perfect reference to if you're interested in gaining a solid biblical understanding of money, possessions and eternity managing God's money is available in the store moneywise live.org is on John's been charged in federal court with plotting to kidnap Michigan Democratic governor Gretchen Witmer at a vacation home separately. Seven more people are been charged with trying to target police and the Michigan capital retained Delta gaining strength as it bears down on the US Gulf Coast forecasters warning that Delta good Lord sure Friday with winds of up to 105 mph place. Most of Louisiana within Delta's path, including the area around Lake Charles which is under a mandatory evacuation order number of Americans seeking unemployment benefits following last week to 840,000 stocks closing higher on Wall Street as hope remains that Washington could approve more aid for the economy that out today gain 122 points the last decade, 56, the S&P up 27 this is SRN news moneywise moneywise live live your phone calls is 55 7000 will be going to Pequot lakes. Minnesota though. Rob I know you're excited about some newish information regarding the moneywise app. Well, we are Steve we've been talking about this if you just hearing about it for the first time that you know our team since the first of 2020, literally for eight months straight to three full-time developers have been working on the moneywise app and it's out to live. You can go get it today. Whether it's the Apple Store or the Google play store. Just search for moneywise biblical finance at the core of it is a digital envelope system, or you can connect your institutions download your transactions automatically categorize them by envelope and I'll tell you we built it in such a way that it solves for every feature I wanted in an envelope system. I couldn't find one so our team created that would love for you to check it out.

But here's what we just watched today were so excited about it is the web app so here's what that means you have it on your phone or your tablet in your phone, your smart post by the best way to manage it day-to-day. You and your spouse logging in checking your envelopes filing your transactions, but the web app is great when you're sitting in your desktop maybe at home or at the office when you're setting up your plan month to month you're filling out your spending plan you're building your envelopes creating custom envelopes. All of that really easy to do with your keyboard and mouse there using the web app so it's all available today. We also just launched a brand-new feature as well where you can split transaction so member the last time you bought something at Amazon one part of that transaction goes in one envelope and another part goes into another envelope. Well, you can now do that as well so Hank go download the app today in the Apple Store the Google play store. Just search for moneywise biblical finance or you can create an account@app.moneywise.org now if I heard you correctly and please correct me if I'm wrong, you know, I will yeah I use you were suggesting that if you're at work. Sitting at your desk using your cell phone to do your personal work on things that what you were recommending people do companies dollar definitely not know that would be before or after hours for sure.

Or maybe during lunch. During lunch, Arabic just want to be sure about Pequot lakes Minnesota Ahmed. We appreciate your patience. How can we help you today sir. I like my job about a year ago and I will violate my life together. The back without help a lot of prayer made it happen a lot and I'll call my mom and my dad but I know Mike apart again, you know everything I had and get on the road and going.

My question is been on the road will know how I can make money. I know that God hard sometimes, but where waiting at the limit where they talking about when he died and I got well first of all let me just say how delighted I am to hear that you place your trust in Jesus as your Lord and Savior. That's the beginning point for all of us when we go from death to life, and recognize that as sinners, which we all are that Jesus is paid the price for that through his death and resurrection on the cross and we can be reconciled to God through his we call substitutionary atonement when he atones for our sins by taking our place and then offering that is a free gift to us and so that's just wonderful. Hence, the best news that we can possibly hear. Beyond that, we want to grow in our walk with the Lord and part of that is this stewardship responsibility beyond giving our life to Christ, then we recognize we are stewards or managers over everything God has entrusted to us. Our time in our relationships were stewards of God's word and yes were stewards of God's money.

The resources that he entrusted to us. Our little or much. We need to find a way to live with contentment in that, as the apostle Paul says in times of plenty and in times of of want. We need to enjoy what God's given us.

But yes, we are also not necessarily as a man, but just as followers of Christ were to provide for our family. All of us to the extent we have families that are depending upon us. We see in first Timothy that we are to provide and that's part of what God calls us to. As followers of him. The question is how do we do that well first we have to recognize that God owns it. Also, we are the manager and then secondly, the God is our provider and sustainer that it's not the government it's not your employer, God is your provider but we are also to work right work happen before the fall of man.

We were created to be productive to take God's creation and improvement. And to be producers and you.

We know that that's good that we should be working. We see that clearly throughout the Scripture, the question is what is God have for you, and I think that we need to all be asking that question.

You've clearly been through a difficult season just can't even imagine losing both parents said to this pandemic and so obviously at a point where I can imagine you're asking a lot of questions and just asking the Lord to be near to you, trying to guide and direct your family during a difficult season as well so I think the starting point is just to find yourself on your knees.

I think we go through something dramatic like that. We shouldn't necessarily rush to make a lot of major life changes. I think it's a time to take a deep breath and say, God, what you have for me and follow. As he leaves, and I think part of that leading is where is the income going to come from that God provides. But what is the work that you can do and do you have relationships right where you are where that may be a better place for you to go to work until such time as you see a plan or you have reason to believe that by making a change in location that there is a better opportunity for work or even something waiting for you before you set out so I might again. I don't want to get in the way of what God is doing. And clearly, if you hear from the Lord, that your to go then you need to be obedient to that. But apart from that, I think going through a traumatic season like this. It's an opportunity to stop and say how can I provide what skills has God given me. What relationships do I have what opportunities do I see in front of me that I could take advantage of to provide for my family and through that income.

How do I then use that wisely applying the principles from God's word. We talk about on this radio broadcast every day so I think that's perhaps the next step for you is just to continue to pray and ask the Lord to give you wisdom for that and out before we had our next break. I'd like to actually pray for you Matt if that's okay.

Please do that now.

Father, we just a committed mod and his family to you and first of all are we just thank you that his eyes have been opened to the reality that the place that we all need to come to recognizing what we need to place our trust in you as our Savior, our Lord and Savior. And that's the beginning point we move from death to life, and now beyond that. Lord, I pray you give him wisdom as he navigates leaving his family well.

As a follower of Jesus, how he can be found faithful in that I pray for provision that you would bring provision to him that you would bring clarity as to what he's to do from a work standpoint to bring income into the home and that as you do as you provide Lord that he be found faithful in managing that we want to tell you today. We trust you. We love you are most thankful for your son Jesus.

We assess in Christ's name, we have a less than 30 seconds, but give me one or two very quick strengths that you have that relate to the food truck business by John throughout time, but lots of people just heard you say that links will continue to pray, buying a home is the largest most nerve-racking perches, most of us ever make.

It doesn't help that you're entering a maze of unfamiliar words and confusing options that can leave you intimidated frustrated and afraid. You can take advantage of navigating the mortgage maze by Dale Vermillion help you clear up the confusion on rack your nerves and make the best mortgage decisions possible with confidence navigating the mortgage maze available when you click the start button moneywise live.org hi, I'm Barry McGuire I'm here to help you understand how urgent it is a sugar for every opportunity to the eyes of a layman, even with all our problems. America remains the most prosperous and generous nation in the world with a world full of people wanting to live here. That's why it's so easy to forget about the eternal destination of those around us. Empathy is hard to find these days. Even among Christians too busy living their lives to think about the lives around them. What must Jesus be thinking of us who are most blessed in acts 18 Jesus said to receive power when the Holy Spirit comes upon you, and you will be my witnesses. If you knew the wretches going to happen tomorrow, who would you reach out to you, what would you say keep that in mind with everyone you're with today, family members or coworkers at Perkins door to serve as a reference to operators of the phone there all your mission. There is nothing more exciting than knowing God is using you to move people closer to join is not America.com. If you asked a difficult question. Are you willing to say I'm sorry I don't know the answer.

Sometimes our pride keeps us from admitting our lack of knowledge or get in trouble by trying to pretend for something were not. I once read that the human mind is like a television goes blank that I turn off the sound Bible says a lot about pride and how it causes us to stumble how God opposes the proud but gives grace to his being willing to say I don't know is encourage you to get on the road to discover God is driving 66 life.com roadmap for line 66 home today, most couples can't talk about yet. Most money books expected. How can you create a budget or pay down debt. If you can even talk about spending or saving with me if you get tense about your just plain avoid many conversations altogether thriving in love and money like Chante and Jeff felt hot news for you and it's yours free when you donate $25 or more to moneywise live.org thriving in love and money for a better relationship not just a better project today moneywise live from.

I just feel that I need to mention I like to mention one more time. But alas, came to Christ. I guess fairly recently that coming out of Islam and then after starting his new food truck business within months of that his uncle and his mom and his dad all died from cold it now he feels led to move south out of Minnesota where it can be difficult. I'm sure during the winter to have a food truck business. So let's just remember, but I'm sure often will we come to Christ very early on, God puts us through season of testing to ultimately strengthen as it may seem discouraging at the time, but ultimately I believe it will will test us and make us all the stronger forward as we go further in our relationship with him. So let's just remember him and see what that's going to do in his life and that of his family. Chicagoland W MBI Tracy what you question for Rob West, mind told me about about that the current thing I've ever heard it recently become really popular and about our I get that from 2011 approved the now bank are you going to look at crew didn't know if you have any thoughts on that what you know what what you like how it if it's something good idea to do how I go about learning about a company, Lipo, and go ahead quickly.

Also, where they fell at home only two years old Catholic when he retired in about that, but we been making payments towards the mortgage and often poor and disappointed that it should we do that element.

Or should be put payment are carnal.

Let's tackle these quickly or Tracy number one, you know, the technology behind crypto currency is here to stay. There's hundreds and hundreds of them.

We may know if you name brands if you will like bitcoin that are very popular, but there's many many crypto currencies and basically as we move more and more to a global digital economy and means of exchange were going to see more and more of this. There are some inherent challenges with crypto currency because there's no central bank behind it. There's also some security issues because of the fact there is no central bank. So it's unregulated and so you just gotta recognize that, but it's not going anywhere, and in fact I think that's gonna be a bigger and bigger part of our economy and means of payment moving forward in terms of an investment. I just don't like it way too volatile for the average investor to try to move into this type of investment class. It's just going to see wild swings because of the fact that it's new technology. In some cases that you countries have considered outlawing it or have actually done it just because of some of the fraud and things going on with it and you know we just looking at investing. We want to take a more sure and steady approach with a long time horizon in my view, as opposed to something that has wild fluctuations like you have a crypto currencies, although you know folks are tend to be attracted to things like that because we hear some of the year the sizzle. If you will about some of the stocks that have gone way up, but I would rather you take a much more broadly diversified approach and really just look at capturing the broad moves of the market as opposed to something like this that has could could have dramatic swings, but at the same time the risk. On the downside is significant as well.

So if it were me I would stay away in terms of the selling the home and applying extra payments and I love the idea of pursuing a life that's completely debt-free including your home. I think it's just all about managing the priorities of the uses of the funds that God has given to you. And when we look at the priority order of how we use this again is not a right and wrong approach, but I think there are some priorities that perhaps come first. Number one are you giving systematically number two. Do you have an emergency fund of 3 to 6 months expenses and number three are you living on a balanced budget with some margin left over each month a number for you funding your long-term retirement strategy in a broad diversified tax-advantaged portfolio at let's say 10 to 15% of your pay and do you have any other short-term goals that you're pursuing like running away for college or EL, are you still working on other consumer debt that would have a higher interest rate than your mortgage. If any of those are true. You might want to look at prioritizing those over the house.

Nephew said no rubber on track with retirement. We had the emergency fund and we don't have any kids in him, you kinda run through that list and you still got some extra money available then. Does it make sense to go and prepay the mortgage beyond the minimum payment, absolutely. And even though you're planning on selling in the next seven years.

That's just to be more equity that you will have to roll into the next property so that doesn't give me any pause whatsoever. I think the key is what priorities do you have and what order do they come in that would be the only consideration I would give to it to settle make sense to you. Thank you, alright appreciate your call Tracy.

Thanks Tracy want the Illinois Christian you have a question today for Rob. I actually bet Chris sorry and I'm getting him to be 71 years old and single.

I have a retirement plan annuity plan with about $80,000 on I have about $16,000 Wells Fargo account and $5000 in a local bank hearing. He lining and also I have a bunch of cash I needed to ask you about a cashless society. But if that coming to pass.

Then my Smart doing much good. I need to know what to do with that name on Social Security about $700 a month and I'm still working full-time as a caregiver or my income is anywhere between 400 and $700 a week. Okay. All right. Well, as to the cashless society mantle think were going to be there any time soon, but meaning zero cash where money is fully digital, fully traceable, fully controlled and that's not something that I feel like is anywhere close to being a reality now as coated. 19. The pandemic is upon us. Clearly had moved us further in the direction of a digital means of payment as we go for health reasons that are very appropriate I think to less physical currency where doing more business at home and online were using smart phones in electronic or digital credit cards things like that that don't require you to actually come into physical contact with someone or something else and so clearly that his move this along with this idea that we're it's kinda immanent that you know cash of physical cash is gone and I don't think that's that were anywhere close to that. So I think we just need to conduct business in a way that smart and safe and I make some sense and in fact I would say the average person should have some cash at home.

All things being equal, probably in a rule of thumb is maybe two or three days worth of expenses up to a week somewhere between $500,000 for most folks and then we should have an emergency fund on deposit probably an online bank link to our checking account. I would save 3 to 6 months expenses so I go that's kind of where I think we're headed there and I think the key is for us to be wise and be smart about how we handle conducting business online whether that's you know on the Internet or in any increasingly digital forms, but as to your call question here Christian. What specifically are you wondering just how to manage your money within the income that you have or something related to investing. I need to now you think I should put more into my retirement fund and also forgot to tell you I have on Edward Jones account was like $4000 in a money market account and then about $7400 worth in mutual fund account. Yeah, well, apart from having that emergency fund that's readily available. We certainly want to be contributing to an account that would be available in retirement. When you stop working and I think if you have discretionary income feel that you can allocate to that while you're working. That makes a lot of sense because that's just can give you more in the way of assets that you can use when you completely stop working if if you are still working that you can convert into an income stream. So I would say yes if you consumer debt is paid off and you got your emergency fund and placing your giving at a level that you feel is consistent with where the Lord is leading that absolutely, being able to suck some away in a tax-advantaged means that you can then use to supplement Social Security down the road makes a lot of sense to me and we appreciate that phone call today. God bless you. Thanks so much for calling in and when that were going to have to put a bow on it for today were pretty much out of time. Rob any any any parting thoughts here with just 30 seconds to go. Anything one of us with well I think you know for so many of us we just want to be found faithful with managing God's money, and I think a question to ask is why would we spend an hour a day talking about money on the Moody radio network and all across the country and I think the answer is because it's on the heart of God. 2300 verses relate to how we deal with God's money recognizing he's the owner where the manager and how do we operate as a steward marked by this idea of faithfulness and I think that's what were all striving for money is just a tool. It's not that were doing this program to see how can we get more of it. The question is how can we lean into what God is provided as a tool for his glory and to accomplish his purposes, and when we can think about it that way, it changes everything Steve about how we focus on what God has entrusted to us. Hopefully today's been an encouragement to us and well said rep. Thanks very much.

2300+ verses in the Bible about money and finance and Rob has memorized thousands, maybe a thanks again for listening. Please remember moneywise live is a partnership between Moody radio and moneywise media please tell a friend about us and join us again tomorrow for a brand-new efficient moneywise