Workplace Dos and Don’ts

The Bible tells us to be salt and light in the world and that includes the workplace you reflect the character of Christ will your work were due your coworkers secretly wish you would find employment elsewhere than our host financial planner and future Ron West has a list of things you should do on the job and some things you should never do because it might harm your question, yes. Today's edition is pretty recorded, so please hold your calls have some questions already lined up on steam for workplace news and don't stop first today moneywise live enough to be Christlike at home.

Now you're saying we have to do it work absolutely after your family.

Steve, the workplace is maybe the most important place to show the love and character of Christ. And here's why.

Unless you work in ministry.

You're probably surrounded by nonbelievers and you're representing Christ right there in your cubicle. Perhaps you could very well have opportunities to point others to their Savior doesn't think about the workplace as a mission field because it certainly is yeah good point. Okay, let's start with the don'ts, what shouldn't we do on the job, sure. And these aren't in any particular order of priority of the first is schmoozing with the boss, beyond just being courteous and respectful. It's obvious when someone's trying to butter up a supervisor to gain personal advantage. So instead just be nice and kind to everyone. Here's another one, and it's something many people fall into because work can be difficult and stressful. It's going negative and complaining about the boss or work conditions just don't do it. It might make you feel better, but it actually depresses your coworkers even if they're going along with it and that's a tough one complaining about work is a national pastime of/but believers shouldn't participate in this. Okay what else, what is next. One might sound trivial but it's very important, don't leave messes around the workplace for someone else to clean up. Keep your work area tidy and if you really want to make a positive impression. Clean up someone else's mess in the break room or the employee refrigerator and we all know how those can get you half your warming up food in the microwave. Clean up after yourself, stay away from fish good one.

Now what else to have with well don't ignore cubicle etiquette.

Keep the noise down and don't splash on a lot of perfume or cologne might smell good to you, but meanwhile, others are holding their noses and one final don't don't be standoffish. This can be a little trickier, but it's important to let your coworkers know you're part of their group.

Unless something is obviously ungodly.

It's okay to be part of the company culture that means not dressing or talking in ways that make others feel uncomfortable, but of course you should never use inappropriate language, like swearing, even if others are.

That's right. And never park in the employee of the month. Parking space if you're not that person. Let's move on to the dues. What can we do to represent Christ on the job.

Yeah.

Will one of the most important is showing a strong work ethic. That's the reason we're here in the first place. Matthew 516 Jesus tells us. Let your light shine before others, so that they may see your good works and give glory to your father who is in heaven. While that leads to some other dues do be helpful to others. Look for ways you can make your bosses or coworkers lives easier perhaps volunteer to help with the rush project even if it's just to get takeout for lunch little things can have a big impact, and you want to be part of the solution not the problem. Answer also do let your boss know you're willing to take on extra work or responsibilities. That's not only good for your Christian witness. It can also be helpful to your career goals as are all of these dues okay. What else will do. Let minor insults and discourtesy's roll off your back. They happen in the workplace often unintentionally forget about them again in Matthew five Jesus says if anyone slaps you on the right cheek turned to him the other also. And I think we can certainly apply that in work context. That's right. A lot of these things we talked about dues and don'ts so far really have to do a lot with attitude, don't you think, well, that's exactly right to think you need to remember who you're working for in Colossians 3. The apostle Paul says, whatever you do work heartily as for the Lord and not for men, knowing that from the Lord, you will receive the inheritance as your reward you are serving the Lord Christ and that should lead Steve to gratitude.

You know, Christ died for our sins we might know eternal joy with him in heaven. The least we can do is present a strong witness for him in the workplace. Great information. This is moneywise live.

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This quick reminder that today's broadcast is ported so please don't try to call in, but we lined up some folks in advance with some very interesting question. So please stick around. Let's go to St. Cloud, Minnesota, first or next Darrell what's on your mind.

You might call share what all eight years ago the house and repairing it better.

My question is I have a 401(k) with mama hundred dollars in it and 12 years from retirement. I can get a VA loan so I can get zero down on mortgage. So my question is should I pull out, maybe put 10% down or something like that on a mortgage. What I do eventually my awesome hope in the do in the spring sometime. Darrell, would you be borrowings from your 401(k) you considering just taking withdrawal just drought probably yeah what is your age you said 49 yeah yeah I'd really rather you not do that for a couple reasons.

Number one, it's gonna be very expensive money to get your hands on in the sense that you can have a 10% penalty right off the top and then it's all gonna be added to your taxable income for the year in which you take the withdrawal so you were talking 30+ percent right off the top from this money, not to mention the fact that it's no longer available to grow for the next 15 years or so until you retire so that you have an asset that can supplement your income. So yeah, I really don't like that idea. I also don't like the idea of you buying the home. Even though the VA loan allows you to go in with no down payment.

I don't recommend that I prefer you to have 20%. I realize saving up 40 grand on a $200,000 home is going to take you a while but you, I'd really rather you not go in without any equity it's gonna put you in a position where if the market were to take a dip in it does periodically. I keep in mind we been not in the midst of probably the longest bull market in the housing market and we've ever seen. Will it just continue to go to up from here. It could, but I am also the cycles tend to roll over and I'd hate for you to be in a position where the housing market, either nationally or in the area where you're at. Accident analysis on your locked into this home upside down. So I really would go back to that spending plan and see what you might be able to do to reorder things in such a way that you could begin to save and put some money away that you could use for this, down payment, I realized you're renting is not terribly appealing and it feels like you're throwing money away every month but at the same time getting into a massive financial obligation with all the other expenses that come along with homeownership, especially without the readiness financially in terms of the down payment and so forth.

I just know I don't love that option.

And again, tapping that 401(k) because of the associated cost.

With that, both in terms of the time value of money on its growth and the taxes and penalties is just not an attractive option to me so it's probably not what you want to hear and I'm sorry for that but I just don't want you to get in a tough spot and I do something prematurely.

Darrell, thank you for your phone call today. I will pray that God gives you real wisdom and direction as you figure out what's the best I wrote for you to take.

Thanks so much, to Ohio, and Susan you you're having some issues with the house payment. How can we help you there. But about 2000 and very hard that so our interest rate is 4% and with a lower interest rate worth us to refine, to try to get our payment down could be Susan tell me this. How long have you had this mortgage out with only had it for about four years.

Okay. Was this a 30 year mortgage longest one. Yeah, right.

And you mentioned that you're having trouble making the payment. You don't have a variable rate that's purely because the property taxes have been increasing. Is that right yet okay and are you all kinda going underwater each month or you know if this payment was 100 or so dollars lower.

Would you be okay in terms of covering all of your obligations yeah if you plan to stay in this home for a while and in others, not an option to sell it and downsize which I realize has a cost associated with it as well.

You don't going ahead and refinancing can make some sense you're going to have to reset this at a new 30 years. I'm not a huge fan of that but that's the only way you can get this payment down. Obviously, the reduction in interest rate to let's say you know 2 3/4 depending upon what your credit looks like right now, combined with the new 30 year mortgage is certainly gonna take a little bit of that pressure off but I want you to really look hard at that monthly spending plan and make sure that even with this new payment. If you were to roll in the closing costs and so forth that the lower interest rate and plan to stay in this over long time I want to be sure it really fits in your budget. Normally we would say that that principal, interest, taxes and insurance payment should not be more than 25% of your take-home pay and so you could do some quick math it's okay when we bring home every month all in 25% of that should cover the principal, interest, taxes and insurance. All of it and and then at that point I would go out and get some quotes I go to bank rate.com find some online lenders maybe check with your local bank and depending on your income and depending on your credit score if you could qualify for one of these very low rates right now that are available between 2 1/2 and 2 3/4%.

You probably if you reset this at 30 years would see that payment come down a bit and that would take some pressure off but I don't want you to go through this exercise if it really doesn't fit into the budget and really what's needed is for you to sell this property and look for something a bit less expensive. Do you follow all that the Susan we wish you the best on that. Thank you very much Bob, here's an email from Erica, as you suggested Rob we have saved up $1000 for emergencies. We live on one ear, regular income, we received an inheritance and we aren't sure if we should pay down our death or build up our savings to cover six months worth of expenses. What do you think so, I would start by saying when you say Erica pay down your debt. If you have credit cards. I'd put another $500 with that thousand and I'd focus on paying off those credit cards, but don't do it until you have a spending plan that you're confident you can live by is what I don't want to see as you take this inheritance take care of the credit cards, but then you're still living beyond your means. If in fact you are and the credit card that comes right back over the next 12 months. So I get the spending plan in place. Add $500 to your emergency fund and then pay off the credit cards.

If you don't have credit cards or talk about a house payment or car payment, then I would go ahead and boost that emergency savings all the way up to the six months and then take the balance and look at where you might want to put it for the long term, saving for college and retirement savings, other investments, those types of things. Most likely, that inheritance will only happen once in your life so you want to use it carefully and prayerfully. We appreciate that email us.

Send us an email if you like questions@moneywise.org questions@moneywise.org will be back with more moneywise right after this. And if that is robbing you of freedom and peace of mind. Christian credit counselors can help where a nationwide nonprofit counseling organization has helped over 300,000 individuals in the last 27 years get out of credit card debt 80% faster while honoring that that info to learn how Christian credit counselors can help you visit Christian credit counselors.org Christian credit counselors not call 800-557-1985. You probably have a strategy for your finance your career even your retirement strategy for your getting Christian foundation. Create your family maximize your resources to learn how to moneywise.org to match the light here is a quick way to spell words on the entire world where we turn you when trying to be Bible study class CMXXX 30 central line you had no problem more.org what is the moneywise live and we talked about our telephone number. Often, because we live today. He recorded some of her mention of the phone. Please don't call us. You can find us online in moneywise live.a large it's moneywise live Rob was taking your phone calls your questions on any financial topic. Rob I think you had something you wanted to share with our listeners what you know Steve, we hear from so many listeners each day really so many of them talking about how long they've listened some of the some of them just finding us recently. All just so encouraging about the chance we have together to learn God's way of handling money and so just appreciate so much. Those of you who tune in each day and would like to invite you to participate with us perhaps to partner with us to keep this program on the air. We have a wonderful team here and look forward each day to bringing you God's truth as it relates to money and if it took beyond your time. You have the ability to give a gift to moneywise media we would be incredibly grateful.

Whether that's a monthly gift and you want to partner with us as a moneywise patron or give a one time gift however little or however much you would be able to bless the ministry with we would be grateful. And so I just want to thank you in advance for those of you who are already partnering with us and those maybe for the first time you want to step up and give a gift, I want to say thanks. Thank you very much. Let's continue on up to Ohio Curtis. We appreciate your patience, buddy. What's on your mind what you have to share with us while going on for almost a year now.

I 31-year-old daughter living in a house we own and not have been paid rent not want to but wife totally against with a four-month-old baby and significant other living there not knowing what the larger was yeah but you certainly need that James 15 if you lack wisdom, let him ask. And certainly this is an area where you need great wisdom because clearly on one hand you don't want to enable bad behavior and almost reward someone is not following God's plan with regard to their finances and honoring their parents on the other hand, we realize you want to provide for your family and we've got a little one in the equation here is you have not only your daughter but her baby and so I think this is very challenging as you just assess her ability to care for herself and the baby.

What is your assessment at this point of her situation while all the baby she had a brain bleed and what you will. She's lucky to be alive miracle live but men released to go back to work and not paying rent was previous to having babies okay well I think the first thing is, again, for you and your wife to make this matter prayer.

Second thing is to make sure that you both are on the same page about the plan moving forward. And that's going to take open-end and intentional communication. So you are of one mind with regard to how you approach the situation.

Whether you decide to exercise tough love or whether this is a time to be lavishing your generosity toward your daughter. I think you're one step. I would certainly take us to sit down with her face-to-face and say listen.

We love you. We want to support you and in your baby your child our granddaughter and we need to come up with a plan here and so part of our continued assistance in this situation is going to be predicated on several things happening one you learning God's way of handling money to you progressing in your demonstrating you understand how to handle your finances which includes you getting on a spending plan showing that to us beginning to manage your money wisely, including some rent in that plan, and making good on that and to the extent you're not willing to take these steps while we continue to provide assistance. There are going to be consequences and then lay out those consequences whatever those might be. But again, I think you will have to have that plan going into it a couple of additional thoughts wanted you could involve a third-party if you fall like that would be more helpful and so you could say part of this plan is you getting with a moneywise life coach who is gonna walk with you, and over the next month is going to help you put a plan together that you're going to present back to us and so he gets you out of the details of that, but it does have someone who's godly who can help put a plan in place. Walk alongside her, that would be one option. The second option is you give her a period of time. You say were going to be willing to help for X number of months and at that point our support is going to stop unless we see the following things and so I realize it's difficult, especially when there's a child involved in.

So this is a time for you all to be prayerful and as husband and wife communicating very clearly as you develop this plan will certainly asked the moneywise live community be praying for you and that you Curtis thank you very much. I like your advice there rather obviously the that the baby does complicate things.

The other question you have to ask yourself husband-and-wife is is it a situation where they won't pay or that they can't pay and and you're right is sitting down and trying to work on a budget.

Having a conversation with them. As parents, sometimes the dynamics make it difficult so involving a third-party. Perhaps a a budget coach would be a good thing there. And again you can find out how to contact a budget coach when you visit our website Curtis which is moneywise live.org and there's no charge for that. Perhaps that would help the situation were glad you called and will pray that God works that out. Thanks very much. Indianapolis, Indiana hey Terry what's on your mind today. I really appreciate your program in biblical with you here on a regularly I called. I've been a general contractor for over 30 years. Done work for many wonderful people. However, it then my claim in question simply deal and a responsibility to pay their bills yeah and case in point to one individual. I did work for $5000 for the work they never had the money, yet they were able to buy three new cars take the family on great vacation get a lot to their weekly Baker you know they they just never had the money to pay the bill totally happy with the work you have no complaints I'm just curious how you feel that situation like that should be handled well. I think you got two situations going on. One is where we give to someone in the other is where were in business with someone in the case of getting we just have to be prayerful and decide as the steward of the money, whether the Lord is leading us to do the giving and then we gotta leave the rest to him regardless of what they do with it or how they're living their lifestyle in a business situation with the know our customer. We gotta be prudent for stewards of the business. In addition to the resources that God has entrusted to us and part of that is making wise decisions. Now we may decide to be gracious and give or not collect in certain situations because we want to bless someone, but in other cases, we have to collect in the right way. Terry without going to have to say goodbye because were up against the brick. We appreciate your call and wish you the very best in that regard. Thanks. Going to pause briefly and then will be back this is moneywise live, how should we as Christians think about investing. What if we could invest our money in a way that aligns with what we believe that Eventide we believe it is possible to love God and love our neighbor in the very practice of investing redesign investments for performance and a better world so you can invest for the future with a sense of wholeness and purpose. We call this investing that makes the world rejoice. More information is available@investeventide.com you have money in a retirement account or just a general investing.

You know, the stock market sometimes feel like a possible to enjoy both profit and peace of mind and investing no matter what's happening.

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The NASDAQ was all 13 them. The S&P dropped 14 this is SRN use and were listening to moneywise live find us on the web moneywise live.org but today we're not lives so if you hear that phone number. Please don't, to stick around. Lots of good information. This indeed is moneywise live with Rob last time Steve Moore and we go to Rapid City, South Dakota hey Alan, we appreciate your stick to it. Of this, and your patients. How can we help you all all we have the Québec magnet for looked at buying a second home there and want to transition their eventually I was wondering about the ability of the money out of my 401(k) kind of pain a greater proportion of the principal down on that house that second home so that we could save interest. I wanted what you think about yeah you looking at taking a loan from the 401(k) or just a distribution could probably take a distribution without penalty. But I would have to pay the tax on that money right you would and what is your age 61. Okay yeah so you would not have a penalty but you would have to pay the tax on it is so tell me about that. How much were you looking to pull out overlooking home for all-out about 100 and I have about 100,000 cash that I could put down. Okay see you put down 50% loan to value. Hundred of it would come from the 401(k) hundred and other savings. Is that right that correct okay and what is the total value of the 401(k) and probably 100 and I have a second account that has about 200 and okay and is that the extent of your retirement savings. About 400,000 that is okay and as you look at retirement down the road. Have you done some planning and some projections just to say based on what we know today and what we feel God has called us to our lifestyle and expenses and where how long we want to work and how were going to serve him and be near family, which I realize is part of the reason for the second home to tell me how you feel like you're doing just in terms of the overall savings goal. You have a what you been able to put away.

To this point what you intend to put away in the future you feel like you're on track ahead or behind. I think that I'm not a mission for two months out last year out of my job and in Africa work and I happy about the fact that our business income actually limit $50 more this past year than we did the prior year. Great. What sounds like you prioritize serving the Lord and certainly it's not all about the amounts in our accounts and wasn't saying that it all and I'm grateful to hear the work you've done. I think the key though is that we we recognize that saving is affirmed in the Bible, and although we shouldn't adopt the cultural view of retirement in the sense that we accumulate as much as we can during our working years to retire to a life of leisure that doesn't nothing wrong with leisure but we realize that our calling is throughout our entire lives which you know full well, as evidenced by your service to the Lord and so we say we say, primarily because we want to be able to focus our energy during that season on whatever God has for us, and there may come a day will likely come a day for all of us where we can't work and so we want to have the ability to provide for families, ourselves and espouse any other dependents during that season so I think the key here is if you can afford debt service on the second property.

If you feel like. Clearly the Lord's leading you to take on the second property, then I'd rather you keep the money they are invested for the long term and not pay the tax now and not give up the growth of the tax-deferred growth that you can have overtime.

That's assuming that you can cover the debt service on the second property and continue to do the things you need to do with additional retirement savings and giving in and things like that. If you can't, I think you got a decision to make on.

Do we really feel like this is where we need to go with the second property, and if so, we just realize that by taking this money out not only you have a big tax liability. Perhaps you could spread it over to tax years that may make some sense, but also working to have less that's growing for us in working for the future and working to have all these additional expenses from this second property property taxes and maintenance and upkeep in those kinds of things. So I think those are the decisions you need to make my first choice would be if you feel like this is the direction you want to go.

Let's try to leave the money there and let it work for you and see if you can fund this additional home out of current cash flow bear market and that are tied to the bar sure well hopefully you been rewarded over the last decade in your 401(k) and you know I think that the stock market has been of the last hundred years.

The very best place for us to be with greater than 9% average annual return going back that long. So time is on your side, you're still young. For all intensive purposes, even though you should be getting more conservative now, but I think the key is really printer and think it through that decision. Hello my hope that helps you. Thank you very much for calling it today.

Keep us posted. Would love to know how God works that out for you. Thanks Robert. You say we try to do a couple of emails here are right that sounds good.

I must begin with a one from Skip pieces dear Rob and Steve, I have hundred and $25,000 in cash.

How can I invest it in the CD a bank or Vanguard is probably been listening to the program.

Skip, you can invest this in the CD very easily. In fact, over 25,000 going into CD here and get the very best rates I would start by going to bank rate.com bank rate.com and put in the amount of the CD. The duration you're looking for looking for 18 months two years three years five years and then see which banks with FDIC insurance are offering the most attractive rate you find a number of them and I shouldn't be any problem linking that new bank probably an online bank to your checking account. You'll be able to just ACH transfer the money in initiate the CD set up your online account and you are off to the races. Now he has an interesting follow-up. He says won't depositing $125,000 and in cash. Create homeland security?

Well, there are some new rules that came out several years ago accident number of years ago now not related to know your client where when you're making certain deposits if to ask questions, but it's not. These questions are going to be a voluminous that it won't create any problems, you'll just have normal questions that any instant financial institution would ask when you're opening an account okay.

I next emails from Kim.

She says we just sold her house and paid off all our debt when we tied the profit from the sale does it all go to our church or can we quote spread it around yeah Kim, great question. The key is here. The profit from the sale of her talking about house. Make sure you're looking at the true profit after the expenses of course subtract out the initial purchase price, and any improvements but then I would see this is your increase so I treated just like any other income and tied 10% to the local church sounds good to me, listening to moneywise live with Ron last today's broadcast is recorded so we won't be taking any calls but we have some calls lined up in some great information coming your way, but I think you will find usable at the very very least, this is moneywise live times more gun.

Here's a great deal more about our money than most of us imagine anything. Jesus is 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 in the store moneywise live.org need some advice questions about planning for retirement. Long-term care insurance. I don't know where to start. It sounds like you need to moneywise help you find answers and more money. You can ask your questions and access helpful articles and moneywise podcasts sounds great. The money okay searching for moneywise in the abstract moneywise.org this is Mary Maguire I'm a car guy here to help me understand God's purpose for your life to the eyes of a layman. The sights and sounds of Christmas like a soothing salve on the open sores of America being torn apart with hatred and anger and violence in the business of the message of Christmas. No one has clean hands and that's why God sent his only son Jesus to manifest his love among us and to sacrifice his life for us so that we might receive his gift of eternal life, regardless of what we done by asking his forgiveness and recognizing him as Almighty God, the creator of everything that exists, who's not desert have God's gift of love and peace in our hearts in their world this Christmas season and for those of us who have that joy, peace upon us every day of her lives. Our mission is always here is that with everyone in every possible way. Your job is revival outside the walls in my moving everyone and everything will help doing that good Aro TW.com you reach people who call themselves Christian but don't know Jesus find out by reading the unsaved Christian Dean, and Sarah was a cultural Christian today. He pastors a thriving church that he wrote this book to offer starting points that lead to deeper conversations you'll be equipped to confront cultural Christianity and lovingly share the gospel to the cultural questions in your life. Cultural Christianity is a huge mission field in desperate need of missionaries get your copy of the unsaved christian@moodypublishers.com feeling that it's time to make a change in where you were leaving the possibility of a position in the Bible is looking to fill a number of times in you'll find positions in management and clerical, national, and unskilled labor. Maybe worth your time. More than 40 position openings available now.

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Thanks so much for joining us today on moneywise live with less times more today's broadcast recorded I think you mentioned that earlier so don't try to call in. We do have some interesting calls home lined up and they might even be asking the same question you have. So let's try Tampa, Florida hello Paul what's going on.

Yes sir I yelled purity and I know everybody always said that I should wait until I'm told me to get it but wanting to cut back my work hours possibly do more volunteering another think of that nature my life as an income and I would want to do what your thoughts are on yes it's a great question, Paul and you know I think you need to see it as a resource that God has provided to accomplish his purposes, so you know just the fact that you're going to take, probably around 25% haircut. If you will, on that monthly payout when you take it 62 versus full retirement age. I think that needs to be weighed in with your other goals and objectives.

What is God doing in your life, and as you said you want to build a volunteer and go do other things so you can essentially lock in this income stream. Yes at a reduced rate that you could start it now which would free you up to be able to go do the things that you feel like the Lord is calling you to do. I can't argue with that. I think that's a good thing and so we don't always need to look only at the financial implications of something we got away the financial with the other piece of the switches. I think what you're driving at. So just recognize scan of the reality of it that you're giving up you know every year you don't wait until you're closer to full retirement age, you're giving up that higher payout for life.

But if you've done the math on it. You've got your budgets that you feel like this will meet your needs now and into the future with the minimal cost-of-living adjustments and will give you the freedom to pursue what God has for you that I would say go for it. Tell me your thoughts know what great every time I look something up your guy talk anybody at all. You have to. But you know I got an incoming which I didn't think was coming to start out so it 62 so I will have my wife worked full-time for the federal government will have their income while her parents, that's what I'm thinking I just wanted to bounce it off somebody did knew what they were talking about me. Is there any is there any chance that you could move from 50 to 60 hours a week and cut that down to well at least 40 gift if not a little less and then hang in there little bit longer that way, as it would your employer be open to that lawnmower getting employees so I have to work.

Take the work there and don't type the job and I have a lot of your time when you're not working gotcha you had to be available so I'm looking know I work six days a week, sometimes so I can take on a call and work on volunteering at the chart audit work we say go do a Paul that a Less the gig economy.

Boy, I don't think we talked about that a couple of years ago. All of a sudden we got home about a whole new terminology when it comes to working interesting and now we've got Google's and gigs and all kinds of things going on in the reading years ago the school over to Alabama and Mary. What's on your mind today after doing long, hard restart, live insurance policies that we can make your insurance company for many years realize that talking about today and wanted to get out policies ever cost more and more and well I just needed to get out of style. I have recently with withdrawn date and I think and lay insurance policies with another major comp and responsible leader responsible for the was wondering if that worked like anything like a 401(k) and putting it into another policy would wait. They responsible and I were it not what I need to engage make sure everything happens the way it should. Yeah, it's a great question and if you are rolling this into another policy.

Mary, you do need to consider and I would talk to a tax professional about the 1035, subsection 1035 of the tax code allows you to rollover a cash value tax-free to either a new cash value policy or to an annuity and basically just carryover your tax basis in then that would just continue growing in that new policy so that would be what you want to do but again you want to get to professional counsel on that. So I would that connect with the CPAP don't have one, you could find one there in Alabama by going to our website moneywise live.org just click find a CK and you can want to look for one of the tax accounting area. If there's not one in the tax and accounting space you want to contact another certified kingdom advisor there in Alabama and then asked for a referral to a godly CPA or accountant that can help you see want to do this right. But if you do, I think you will accomplish the exact purpose you're describing here. We appreciate your call today. Thanks very much Mary, I think we have time for one more. Randall is in Anderson, Indiana Randall were so glad you called today how can we help well. Thanks for taking my call. I wondering about term life insurance over 35 years ago we signed onto the term life policy that had about 50,000 on me and 25 on my wife and other things on the children. However, they've grown up left the home. We still work for the same organization that are based here in Indiana and the term life that started out at around 17 as that steadily grown in at $100 a month and it just seems that a high priced when I'm about two years out from retirement and we do have a retirement with the organization. They have insurance on it just the $40,000 policy on my wife and I and I'm just I'm just wondering if this thing is priced itself out to where I need to really just drop it.

Yeah yeah no I think that's exactly right mean we want to get to the place where we no longer have a need for insurance. We can take that expense out of the family budget. I think the question is just would there be a hardship if either one of you were to pass away during this interim between now and when you plan to retire, but if not, if the assets are there and that retirement could kick in then yeah. Essentially, if you don't have any dependent children, or anyone you other than you and your spouse that are counting on each other and you've got provision for those assets that would replace any income then you no longer have a need for it, and especially given that it's getting more more expensive this would be a real opportunity for you just to drop that death benefit that helpful. I you know being two years from retirement. Then I would have access to some of the retirement funds at least right now there walked away and don't have a lot of extra you know savings set aside for the event that something would happen. So I don't know maybe hang onto it for just a little bit longer have access to those other funds that I think that would give you some peace of mind and the other thing you could look at would be just to see if if the term has reached its end and it's now in the you know the level term portion has run out and it's starting to increase.

You may be able to get a new like 10 year policy level term policy on your life and your wife's for less money for the same amount of money you may not, but it be worth looking at.

But if not then I think just continuing this until the point where it is no longer necessary and can be dropped would make sure that you're protecting your family.

You and your wife in the event of either of your death and at the same time not spending unnecessarily know Rob is such a thing as being a house poor meaning. Typically, that your house payment is so large that you can't afford to pay here other bills or it's just you know it's it's it's tilting to the wrong side. Israel is a possibility that one could be insurance poor, that you have so much life insurance on yourself or another family member that you really can't afford some other important things and it just doesn't make sense. Oh absolutely yeah so I think were always balancing offsetting a risk with what fits into our budget on a monthly basis and would gotta always be looking at those things making sure we have the right coverages and it's got a fit within the context of limited resources that we have an overall budget. It's accomplishing our goals and objectives over time so you bring up a great point. There's no thinking back a couple of years. I don't remember the exact time and date, but I can remember getting the calls from listeners will where the death benefit was in the millions of dollars and the question always was, well, why, why does your spouse need millions of dollars if you if you pass away, and there were lots of different answers. One was I want to be generous. One was I when a helper one was, well, I don't have any anything else to leave this person, but I'm not sure it's always the wisest best thing to do one if you just have to pray about get godly advice. Well I think that's right but you also want to make sure that you have the proper coverage so you we will say, as a rule of thumb have 10 to 12 times your income. So think about some is making $80,000 a year. They're going to need $1 million in coverage now that might sound like a lot, and why do they need that much will the question is what is it neat what you need to have so that it could be invested in such a way that you convert that into the same income stream without depleting that money prematurely and it takes a lot of money. Unfortunately, always great information. Rob, thanks very much. And with that were going to have to bid you a do for another day moneywise live is shift between the radio and moneywise media.

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