Fun Facts About Money

Money Noel needed. We all use it. But if you had a dollar for everything you don't know about the currency you carry around will have more you think money and coins in circulation have an interesting some works about our country today by Pres. Rob West in the background of our currency and I will take your calls on any financial topic at 800-525-7000 800-5257 Steve Moore facts about money next on my Rob. So today fun. I think did you know that they're trying to figure out what to call the money will use in space someday. Unfortunately Rob yeah unfortunately Starbucks is there, but unlike your buns. They were actually going to reveal some things about money, but are actually true in this broadcast today.

That's what most of them know all of them, all of them.

Okay, fine. Let's get started than once.

First, well let's start with busting the myth that the pyramid on the back of the one dollar bill as part of some grand illuminati conspiracy is actually part of the US capital are skewed by the US official seal and is supposed to represent permanency. You see, the founders were hoping that the US would be around for a while. I saw no deep dark secret about the pyramid. There is another conspiracy theory bites the dust.

I'm afraid so. And speaking of secret a lot of people wonder why the Secret Service is a part of the Treasury Department and actually hunts down counterfeiters and why is that certain. Well, that's because that's what the Secret Service was first organized to do back in the 1860s it wasn't until the assassination of William McKinley in 1901 that Congress asked the Secret Service to also protect the president. I didn't know that I will… Interesting and fun.

What's next well. Would you believe that more monopoly money is printed each year than actual currency. Now that's a little hard to believe in the US Bureau of engraving and printing roles at about 975 million in new bills each year, mostly to replace old ones that are worn out, but according to Parker brothers the company that makes the popular board game.

They print about 30 billion toddlers that year in monopoly money and Nasser. The Secret Service needs to be checking into Parker is all along who know what well the average paper currency can be folded roughly get this 4000 times before it tears down the middle and get sent to the Shrek and her surprisingly, it doesn't take long for that to happen. The average lifespan of a dollar bill is only 22 months is not interesting.

I've known them to last far less time in my pocket but that's not there right, what's that what's next. Well, here's one that you probably haven't had in your pocket. There actually is a $10,000 bill.

Now they're not printed anymore. The largest denomination printed these days is the $100 bill but 500,000, 5000 and $10,000 notes were printed until 1969 when they were discontinued for lack of use. The good news. Steve is that you can well if you get a $10,000 bill in your change. It's still legal tender.

I'm going to start watching a lot closer. I'm surprised he discontinued the $500 bill. Not that I ever have need of one. But I think somewhere out there some big spender might want it but just the hundred dollar bill. Okay, what's another fun fact. Well how about a two dollar bill is actually worth the ready for this two dollars to hear Swenson where some folks get confused.

They're not what you'd call rare, but since there are less common than other denominations in circulation people sometimes think they're collectible well, you can collect them all you want, but they're still just worth two dollars. Actually I have a couple in like lots of grandparents they save them to pass them onto their grandchildren who will no doubt immediately try to spend them okay. Any fun facts about coins sure yeah have you ever wondered why some coins have smooth edges and others have ridges well.

The technical term is reads by the way. Once upon a time dimes, quarters, and $0.50 pieces were actually made with precious metals, but unscrupulous individuals would shave off the edges and collect the gold and silver so the US men started putting the ridges on the coin so you can tell if one had been shaved. Of course, today coins are made with alloys and don't contain gold and silver The ridges on dimes and quarters and $0.50 pieces to visually most companies in times of parts and spent roughly the same size pennies and nickels. By the way, Steve never contain gold or silver so everything will be right back. Here's a great deal more about our money than most of us imagine 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 Elmore and breaks it all down in a simple, easy to follow format that makes it the perfect reference tool if you're interested in gaining a solid biblical understanding of money, possessions and eternity managing God's money is available in the store moneywise live.org. If you're investing for retirement or any other goal you may be wondering if it's possible to enjoy both profit and peace of mind, no matter what's happening in the market. Sound mind investing is a short video webinar on the topic of sound mind investing.org SMI has helped tens of thousands of Christians learn to be wise and faithful stewards in the area of investing profit and peace of mind matter what's happening in the market. Sound mind investing.org wanted to attend the largest and longest running annual Bible conference, but to get there because founders completely digital February 2.list of session top.

See all the ways that you can participate including signed Spanish-language lifestream founders, every second. Learn more at founders. We got it's been lingering in your mind for the past few months. Is it time to move on for my current job. Maybe you're feeling drawn to ministry.

Here's a thought about investing in the mission of Moody Bible Institute in Chicago.

Moody is all about teaching students the word of God and preparing them for service, but the mission also involves Moody's sister ministries like broadcasting and publishing make an impact in ministry at Moody check out all the career opportunities@moodyjobs.org that's Moody jobs.org I need some advice questions about planning for retirement. Long-term care insurance.

I don't know where to start. It sounds like you need the money might help you find you can ask your questions and access helpful articles moneywise.

Sounds great okay searching for moneywise.org in your thinking. He didn't get the phone number you are right. I dropped James.

Here's the phone number if you like to get into the West about anything financial will tell you about is goal in Indian Penny collections 800-525-7000 800-525-7000.

If you have any sort of question conundrum concern that involves money, finances, let's talk about it from the Bible's perspective and always 800-525-7000 now Rob. We were just about ready to put a bow on it today, but maybe one more thing for us.

Oh well, let me just say our last fun fact about money is the one we hope our listeners know when it's that the Bible contains over 2300 verses related to money or possessions. More than just about any other topic. Now why is that, well, it's because God knew that the love of money or the mishandling of it are great sources of trouble for his people. Now it's not money is the root of all evil. It's the love of money since about our heart posture and attitude and what we need to take away Steve is that his word is filled with examples of how we should use it wisely for his purposes. Remember we say this often, money is a tool to accomplish God's purposes.

It's not an end. It's a means to an end and it's most effective when it's used as a means to an end that something other than you when were outward focused with an eternal perspective. That's when we really put money in its proper place and if we can help you do that today. Apply money in biblical principles about money to your life again. Give us a call. We left the chat we have open lines available at 800-525-7000. Speaking of Bible verses about money and principles in the Bible. Our Facebook question today is what is your go to Bible verse about money.

And as Stuart says. Proverbs 30 is my favorite. Give me neither poverty nor riches feed me with the food that is needful for me and I get one force from ideal. Lorraine is a faithful contributor to our Facebook page 7. Really she loves Luke 638 give, and it will be given to you and then Sandy followed that up with Proverbs 39 honor the Lord with your wealth and with the firstfruits of all your produce. So it is interesting to see the themes emerging here from our listeners. Amen. And if you'd like to check on our Facebook question of the day you can do it just about every day we have that up on a website moneywise live.org, no, I just made a mistake.

It's not on our website it it's on our Facebook site and again that's moneywise and if you're on Facebook or any of the other primary social media areas. You'll find that information. We'd love to hear from you.

800-525-7000. Let's I think we have a call from Lynn in South Elgin, Illinois, but I'm tapping on my screen you one thing I've learned about computers is that when you hit them like with a hammer or something like that often doesn't help. As in the old days when just gave something a whack with a hammer and then used a bigger hammer and then it started working back to its Atlanta lawnmower. It's a little different desperate hey Linda you there with us today sir yes I am and I'm very near a hammer I am. I'm about to retire. I have a 457 plan through my employer and I also have another IRA from another job and I think I should probably combine the tooling and I'm not sure which would be the advantage to go towards the IRA with Vanguard or condensed in the corporate yeah so you're separating from your employer. Where the 457 was originated. Is that right as you retire here so you would not be able to move the IRA typically ended at 457. You certainly wouldn't be able to after you separate so that's good. I need to stay where it is and and I generally recommend that as you retire and separate from the company in your organization.

You do consolidate into one account and the IRA would be the place to do it Lynn. The reason why you'd want to do that several number one as soon as you get into the IRA.

You have unlimited investment options have more control over how it's managed, even ringing someone on to manage it for you. The fee structure in terms of the investments but also the professionals that you enlist on your behalf to help make these decisions.

If you decide to do that. Beyond that, I think there are some efficiencies just in terms of the management of the funds. It's all in one account.

You can typically get access to more investments because some of them have certain minimums.

Although the balances were talking about.

After a lifetime of savings probably wouldn't matter. You should have enough accumulated anyway, but also in terms of the management of the portfolios of the money is all in one place. You can make sure there's not unintended duplication of investments that might cause you to not be properly diversified and then there's just the simplicity of the oversight you got one statement coming in as opposed to in one account that's being manage so I like the idea for a similar order or or the same account type getting it all in one place just because of those efficiencies and economies of scale of the last thing I would mention is that typically you will have breakpoints on the fee structure.

If you hire an investment professional as you reach certain asset levels.

Assets under management and so by having it all in under that advisors roof so to speak. In one account is going to make sure that you get the most competitive pricing from that particular professional as well so I think that's good to be in your best interest. As you move into this next season of life in retirement. Does that answer your question, though, wasn't something else specific you're looking for.

857 quite a bit like an IRA. Both the tax-deferred retirement vehicles so it you ask from a tax treatment standpoint, it is almost the same because it is tax-deferred meeting, the money goes in on a pretax basis then it's invested grows tax-deferred and then it's treated as income when it comes out. The reason it's a 457 and not a 401(k) is just because it's for a governmental or certain nongovernmental employers in the US.

Do you work for the federal government I work for a local municipality local municipality okay yes of the 457 is just the governmental equivalent to a 401(k) or in the nonprofit world of 403B, but all of those really from a tax standpoint are treated equally with the IRA that will glad you called and got through today. Thank you very much sir.

Hope that helps Cleveland, Ohio hi Debbie, you're on with Rob West. Thank you out with my question. It is so funny at him like a kid I had had a an annuity with my company for 2013 at $25 one month to that annuity and I recently put out $10,000 that I needed to use, but for giving me the option of returning that money within 60 days without penalty. If I heard you tell him he should get keep it in one month, set up IRA. I walk a lot because I'm retired from the United States Postal Service and I have light almost 90,000 out the going there. 80 because I'm determine County becoming completely, 10,000 for last that I can't add to that anymore because I will be working it has to be money that you worked for so so so that my my salad asking you, his question, but is not to say yes.

So, specifically the money you took from you to get from your retirement account or you took it from an annuity at an insurance company. If a monastery that is in an annuity annuity okay so it's an annuity so it's an insurance annuity that's also an IRA and that's where you took the withdrawal from from and you're looking at getting it back in.

Is that right yet and are you looking to move this money out of the annuity into an IRA that allows you to invest in other types of vestments, no never happened that you know who thousand 1321 $10,000, $25 a month. I just thought that would grace of somebody handling a good credit, not me, but I am afraid you cannot take it and I have enough money where I can put my money in the box and my sign in, who have a professional they can look it out for me because I'm thinking now you know thing and I'm you always say we gone there to be 80 Fab of my baby was 90. Well my mom is 90 but I like to I think I'm pretty good with my money. Sounds like you have Debbie, well I want to make sure I answer your question, I would agree and put that money back in because we don't want that to be taxable to you and let it just continue to grow as it has been specifically what else were you looking to try to answer today that would know how to I have the post office to give me my leave PHP at me. I didn't know I was gonna ask them but you do limit faith that my money to my quick lab. I have account number and everything.

Yes you can do what's called a direct rollover from the thrift savings plan to an IRA and that's what you can want to do so you want to call the post office tell them that as you retire. You're looking to do a direct rollover of the TSP to an IRA and they'll tell you exactly how to do that. What paperwork is necessary, and then you just need to decide whether to son or somebody else who's going to give professional oversight to these assets to make sure that there invested in a way that's appropriate for you so you can protect the money but also see some growth over time.

Debbie sounds like you're heading in the right direction and we appreciate your phone call today and your many many years of service to the US Postal Service listening to moneywise with Rob West, I'm Steve Moore were here your calls and questions today. Anything financial 805 five 7000 joy speaking with you so call.

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We knew we were coming into a lesson on think the case is understood a little conflict with we would not come here to learn about Jehovah in our maker.

We know this is about to get in our business. Sandy thing to do, starts to make us nervous from the very beginning, but I want you to see something from the onset, the very first mention of holiness in the context of blessing. Please don't miss it. Please don't miss God blessed holy blasting on it did not think about what I want to suggest to you about. We embark on think you need to carry some pretty that we can know more like something your finances.

Basic things like budgeting spending plan.

Getting out of that emergency fund giving saving things like that might want to connect with certified budget coach and you can do that when you visit our website. It's moneywise live.org scroll to the bottom of the page and you'll see a line there that says connect with the coaching you can connect with someone who is well trained and certified by us and they can help you with some of these basic things again moneywise live.org scroll to the bottom middle of the page and you'll see connect with the coach.

Sarah is in Texas and hopefully help you sir, are you wondering moneywise weekly or monthly. Yeah, you necessarily designed it so that it's not overly complicated, fairly simple to use and it really can be adapted to whatever rhythm you want to establish now you know the extent to which in an envelope system is going to be highly effective for you. I would expect you to be in it several times a month because you would be. It was in particular, checking the balances on your discretionary envelope. Some thinking things like you know whether it's gifts or eating out or groceries or Yoshino close for certain members of the family and as you're out, doing your thing throughout the month just been able to pull it up on your phone or tablet and check it quickly to see where I stand there and maybe we shouldn't be eating out this weekend like we had planned because were out of money and so will you buckle down at home and wait till next month got a thing. That's where it's most effective, and then know whether you have a weekly or monthly money date with your spouse and they pointed out then would also be really helpful, but it doesn't need to be terribly time-consuming. It's not like you have to be in it every day and the beautiful part. Sarah is we really designed it so that once it set up and by the way, there's a web app to their so you can use your desktop to get it all set up brother and putting everything on your phone, including all of your different envelopes, but we set it up so that all of it gets automated. If your moneywise Pro subscription.

So basically you connected to your financial accounts.

All your transactions would be downloaded automatically and the system will learn where certain transactions go which envelopes so as things are being downloaded all the time.

They're automatically being placed in your envelopes and then when you're funding your envelopes that can be automated as well in time to your paychecks.

So once all that's in place.

It's just kind of doing its thing in the background you're getting paid.

Your envelopes are being funded your spending money on your credit card or debit card. Those transactions are coming down it said taking that away from the below balances in each category and so at any given time. When you open it you know exactly where you stand in each one of your envelopes but in terms of the frequency that's really up to you in terms of how much you want to be in there and how closely you want to stay on top of these envelope balances does it make sense.

Good way. Every week we have some workshops that are free for you to jump in and our team will teach you how to use it and answer your questions face-to-face using a zoom meeting, so make sure you take advantage of those workshops and by the way anybody listening who doesn't have the moneywise Apple get it now.

It's in your app store to search for moneywise biblical finance. When you go to the Apple App Store the Google play store again moneywise. Biblical financing your app store or on the web app.moneywise.org Sarah were glad you called.

Today we wish you the best with that. Thanks very much. So Rob, so that I understand better.

There's there's the standard moneywise app and then there's the Pro version the big leagues version yeah that they basic app allows you to do all of the things you want to do to get your envelope system set up and track it manually. You want to connect your accounts downloaded automatically and automatically fund your envelopes plus create some new custom envelopes that requires the Pro subscription which is only 59 okay find out more when you visit minimize line hundred 55 Christian healthcare ministries enables believers to meet their healthcare costs affordably, biblically and compassionately is 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 investing is more than just return it's an expression of who you are and what you value is the way you invest your money reflect your identity as a Christian at eventide. We design investments for performance and a better world so you can invest with the confidence to reach your financial goals while remaining truly are Christian values and commitments. We call this investing makes the world rejoice more is available@besteventide.com invest eventide.com hospitality Dustin Willis and Brandon Clement say it's the simplest way to change the world gospel centered hospitality makes a powerful witnessing statement as we open our lives and homes to the simplest way to change the world will show you how you can be hospitable even if you don't have the space for most people are more likely to step into a living room sanctuary. So why not read the simplest way to change the world more Moody publishers.com you feel stuck. I get tired of going to the motions of faith you want to make real progress in your life and not know where to start is a book to help you grow spiritually grows well to the gospel as a starting point of the Christian life rather than the main point of all how to grow by Darrell – available@moodypublishers.org that's Moody publishers.O RG would you like your life to be infused with joy. Would you like to interject and kernel dimension in the most ordinary day. Mother, Randy Alcorn says you can when you discover the treasure principle and a concise powerpack style is newly revised and updated book offers a six step plan to finding the pleasure and eternal parts of the treasure principle what you discover. Life will never look the same treasure principle is available when you click the store, but moneywise live.org from John Scott, the house will try to push the vice president and Remove resident from from office under the 25th amendment all impeachment proceedings are set for Wednesday. The FBI and Department of Justice addressing their law enforcement efforts in the wake of last week's deadly breach of the US Capitol building which claim five lives. Law enforcement still asking for the public's help to identify those who participated in the breach. Former Michigan Gov. Rick Snyder's health director and other ex-officials until the ring charged after a new investigation of the Flint water scandal US government's plans to carry out the first execution of a female inmate in nearly 7 decades are now on hold stocks should complement baseline and into broadly higher Vidal gain 60 points.

The NASDAQ ahead 36. This is SR and use. I just wanted to check out the moneywise that you can visit Apple at the Apple App Store where download any there were Google play then if you want to go directly to our website for the applets app.moneywise.Orrick app.moneywise.O RG Zion Illinois Chardonnay. Thanks for your long-suffering patience to hear how can we help all people, not so wanted to want nothing to do with family home where it will help Mike to have to pay the mortgage, and certainly not against and I like the idea of you diversifying into real estate and creating an income stream. As long as you know what you're getting into not overextending yourself financially and you're willing to do the work that goes along with it a deal with the maintenance issues that's helpful that it's right next door, but dealing with the maintenance issues marketing and making sure it stays rented.

Let's start with the financial side, Chardonnay, how much do you think you could sell your current home for okay have you done any research on what you would need to spend for this duplex about 200,000 jobs. Nine. Let's say you found some for 200,000 and you've got 60,000 in equity in this house so you have a mortgage for 140. Would you be able to cover that mortgage. If there was no renter for a period of time. On the other side of the duplex. What income sources do you have in retirement retired from okay you know what the balance is right now in that retirement account okay alright well I think that's the key is really having a good idea and we were talking potentially five years out or more before you get to retirement. Assuming you're trying to stay there for at least 10 right so I think the key is you know that based on today's income. You should be able to cover the mortgage, which would be in a little bit more expensive than you what you have now given 82,000 on mortgage right now were talking about increasing that two from 80 to 240,000 now you be doing that at a lower interest rate, hopefully. But it would give you nice down payment and as long as you could cash flow that we use as a rule of thumb 25%. So the principal, interest, taxes and insurance. If it's less than 25% your take-home pay than you're in good shape. Now the good news is if you can cover 100% of that mortgage without any renter then obviously every month you have a renter in their you know you are in much better position you be have that help you pay it off much quicker and once it's paid off would give you nice income stream in retirement. The second question is are you ready to be a landlord, you have any experience in this. If you talk to folks who have done it. Do you kinda understand what it takes for you. You feel like you have the ability and know-how to either you maintain the property or get people in there that can do that and do you have some reserves so that if there was a major repair or expense that you needed to cover again.

Now it's not just you. You're looking out for you have to make sure that you keep this in good working order on behalf of your tenant, which means you need to be a little bit more timely and dealing with issues and you may need to get a plumber out there in the middle of the night and so do you have any reserves to fall back on the terror outside of these retirement accounts okay and that your emergency fund is a right. Okay. All right. What is your what is your take-home pay every month roughly year with no okay so you got about six months worth of expenses in the bank, which is great. Maybe a little bit more than six months, so that's good. So I think I would just count the cost and really understand how much more you can have each month in the form of a mortgage payment.

I would also start looking out to retirement to say what can I expect if I were 10 years in my retirement account and beyond that, what could this hundred and 50 grow to and generate an income and what I still be okay as long as you feel good about all that you're willing to take on this role of landlord that I think you should be in good shape Chardonnay yes it is Less well I hope she has an opportunity to work through that thing through that lots of numbers there sounds like she's in pretty good shape but being a landlord is not anything you want to enter into what quickly and without all the all the details. All right 800-525-7000 Brandon, Florida. Is it Brandon Michelle Oro is a Bradenton help me out here rented okay and maybe new year to you. I understand your kids want to do something creative with their Christmas money what's going on there so you know they are so blessed and happy. I honestly didn't glass and they got so much stuff that my mom what do we do without. Okay you can give your stuff away, they get gift card to get cash in for my oldest son lives in California, retired Air Force 26 years so I'm like okay you know what what do you do Air Force as well get them to invest in Netflix and of course I know nothing about this and know that colleges pay for and we did have money and you know people want them to buy toys unlike look they have all the toys they could ever get on toy.

I want you know you got gift card and got cash gift card gift certificate. What can you do with Molière's account as well so they are talking whatever. Well, this is great.

I mean, I love that this is the way your guiding and leading them. Michelle and and this is exactly the way you should be talking. I think the first ideas you want to teach them God's perspective of money that he owns it all and that there the managers are stewards of what he's entrusted to them.

That means they are taking on a pretty big responsibility is God's money manager. Second is modeling is everything you want to model the right behaviors living within your means living simply living with the spending plan. Recognizing that eat with limited resources. It's all about priorities. I think beyond that you want to teach give same said in terms of that when money comes in. There's a portion we should give way right off the top. You've done that is a portion we should save for the future.

And then there's a portion we should spend now with access.

I like the idea teaching about investing so if you hold the line, we come back I'll tell you how you can get them started, shall you hang you probably find your career even your for your getting a Christian foundation to learn how many lines that work. Many people are experiencing financial challenges such as credit card debt downsizing that in jobs saving more than half of all the courses are the result of financial pressures at home money counts biblical financial expert Howard shows that the Bible is a veritable managing your finances will discover the profound relationship your money count is available when you click the start button moneywise live here to help me understand God's purpose for your life to the eyes of a layman, you know people rarely come the Lord one conversation when I first learned that Sherry my faith is not an option. I did everything wrong that I could be wrong and still had good results. My biggest mistake and biggest frustration was thinking. I failed every time the discussion ended without a decision.

I get upset with myself, even God, and even with the person I was trying to leave the law heard about is that God's diving is not hard.

Everyone's on a spiritual journey. Only God knows, or any individual is on that journey is the worst since the Holy Spirit is the Holy Spirit is always there before it's ready to use our willing heart change the hearts of your job is revival outside the will moving everyone and everything will help doing that go tomorrow. TW.com English instructor. She wanted to make sure me the results where you can bring your line more time trying for real problem Michelle is calling us Brandon Florida children. This is the Michelle so beyond really modeling the right behaviors. Teaching them about God's principles of managing money and really implanting this idea of give same spend in the idea of limited resources you if you want to get them started with an investing.

I like that idea. I'm a little hesitant, though, to go into individual stocks. You know it's possible today. Where is it hasn't been in the past or something called fractional shares. So whether you use an app like stockpile or use something like the Robin Hood you know investment accounts. You can go in and buy a sphere of a stock that previously would've been unobtainable because of the price menu, a single share of a highflying tech stock.

I won't name specific ones could be several thousand dollars, but your fractional shares. You can go in and buy very small percentage of one share and basically get started with very little money. The problem with that is were teaching that were not teaching the principle of diversification and so you're all at the risk of one particular company.

So although it's fun to come to get them involved in researching and following a company and you know having some vested interest when you know if it's a brick-and-mortar operation. When you drive by him and you see that company you hey I'm invested in that. I'm glad the directors fully that kind of thing you know there's some lessons that can be taught there but I don't like the idea that were not teaching to be properly diversified.

So I think what would be better is to open an account in your name but earmarked for them where you begin to do some either index investing, like buying them.

The S&P 500 where they can follow the overall move of the market, but your teaching them the importance of not having all of your eggs in one basket. You mentioned you know and Netflix.

I think my producer is something they would be interested in investing in although you know that gets a lot of press right now there's a lot of reasons not to be invested in Netflix. One of those is just simply know that the issue related to a particular program. They had that was just awful. That resulted in a surge of cancellations because they were just dealing with subject matter they never should have dealt with, not to mention a lot of the other programs shows and movies that are on Netflix so I think we would gotta think about that side of it to that in addition to index investing.

The other option.

Michelle is to begin to teach them about faith-based investing. So get them to look at a mutual fund like you one offered by Eventide or an ETF from inspire where there investing in companies that make the world rejoice and really are having a social and a kingdom impact as a result of their investments but also with a great return on investment. At the same time. So if I were you I would either looking at index investing through something like betterment or the Schwab intelligent portfolios or if you want introduce them in faith-based investing. I check out our friends and inspire funds or Eventide funds.com to get more information and I hope that's helpful to you Michelle God bless you and your children as you move forward on this thing so much and in Missouri what your question today for Rob West perfect my mind and I'm in quarrying request a little bit. I looking for something that we can get a return get a return on my I am retired now, but I get my job so I do have a little bit of money you get in a way so my question I've been hearing a lot about you and am wondering if you are calling and what you yes absolutely. The first part first year and you asked specifically about investing in retirement. Talk to me about how much per month. You have is a surplus that you're looking to put to work and you know what the purpose of it is in terms of when you might want to be able to access it into right roughly how much 25,000 okay and do you have your income sources covered so your bills are met in retirement. Yet Nora and what are your income sources Social Security and what else I daughter okay. All right. Very good, and then do you have outside of this 25,000 you came into do you have any emergency reserves okay and what are your monthly expenses each month roughly out my bike and okay do you think all in everything your spending is maybe 2000 a month, not even that much.

Okay.

All right. So you've got, you got a guaranteed income sources Social Security plus your caring for some family members and that's help in either offset expenses or bring in some additional income you got 8000 in savings and so that would be equivalent to, you know, perhaps six months worth of the expenses, maybe less, maybe five so you got a good little buffer there and you want to know what to do with this 25,000 you know if his long as you feel like you could leave this money for at least five years, preferably 10 that I would say you could start to dollar cost average into the market, but I would again be very well diversified, I be looking at a high-quality mutual fund or an index fund so you could look at betterment of the Schwab intelligent portfolios which would go through a series of questions and answers and based on your risk tolerance.

Your agent objectives. They would that help you put together a very low cost, very, highly diversified portfolio of stocks and bonds that we did just move with the market over time and you wouldn't be looking to make a bunch of money in 16 or 12 months you be looking at a 10 year period where over time, you should know average 7% plus you know if if that history repeats itself, which it always has and that would be a good thing is you can get that anywhere else not realize that any point along the way. Depending on how much you have in stocks you could hit a bump in the road and see anywhere from attend to that you're fully invested in stocks of 35% decline. That's what we experienced last year with the pandemic. But again, as long as you're not selling in your letting it ride out in your waiting for the market to rebound, which it always has been. You let it move to higher ground.

You don't react emotionally, that would be.

I think the best approach in terms of where you're going from here. I wouldn't try to pick individual stocks. There's just too much risk when your highly concentrated and that's where I'll finish today with bitcoin. I would just say you know it's getting a lot of press because it's been on here. On the upside, but hit a big bump in the road done the last five days where it went from $40,000 per dollar, down to 35,000 sets of 5000 other decline which I have no idea whether it's going down from here or up from here doesn't matter. There's just too much volatility in it. I'd stay away from it as an investment. The technology behind it's not going anywhere. As we get more and more digital and global in our economy and our currencies and thank you for your call today. We appreciate that Rachel in Sarasota. We have just a couple of minutes. Can we can we be quick about this place, so we are anyone and we have paid off our creek long that they've got a down payment on a home or toying with the idea of paying all praise for the home in a putting cash hundred percent down for a home here.that's on why you see any down that we would you know where putting a retirement on hold and putting in retirement for this practice that were just trying to figure out where there might be hold that where were not seeing are things like yeah close two sides. This Rachel. First of all congratulations you guys are young you doing this right you make some really wise decisions. I appreciate how thoughtful you been even this particular decision. I want to press into that retirement conversation just for second.

So tell me what this looks like, how much he do you have saved up and how far you have to go to buy the whole thing with cash. Yet we have about 35 to 40,000 directly after the land and we are hoping to hit your 25 total, and that where were probably about three years now. I think where we've when we cost analysis and timeline for so basically what I'm hearing is if you didn't put anything in retirement and you just saved like crazy for the house in three years you could buy it for cash all right and do you as you all think and pray about this. Do you have a real conviction from the Lord that you that he's asking you to be debt-free completely to the point were at war. Clearly either way we work so hard to get out of debt. Time we just got out of about 75,000 that we are we candidates feel that weights almost still hang Randall Lewis hat yeah I can hear it in your voice a little bit when you said you were debt-free and there was kind of an excitement in your voice so I can understand getting back into debt, especially a large debt like a mortgage, you may be something you just not comfortable with it. If you feel like and I would encourage you guys did not do anything right now I just continue to pray about this. If you feel like the Lord is leading you to be debt-free, then do it and don't worry about anything else.

Apart from that, I would say just from a pure financial standpoint, I would say I'd rather you start systematically funding retirement as long as you don't take on too much mortgage that you can't afford.

I'd rather you get the mortgage and compound that money in a tax-deferred account for your future. Unless the Lord is just closing that unfortunate were up against the brakes and let's talk more off the wise life is a partnership between radio and moneywise God bless