Making the Right Investing Decisions

Trust in the Lord with all your heart and not lean on your own understanding. In all your ways acknowledge him and he will set your paths straight.

Proverbs 3 makes no exceptions include God in all your decisions and he'll make straight your past that includes investing so today host Rob West speaks with investing expert Mark Miller to find out just how we do that, then we can some calls from all across the country. However, today's edition of the program is not live our time. Steve Moore making the right investment decisions in 2021. It's nice right here moneywise live executive editor at sound mind investing where they always include God in their decisions.

And that's why it's always a blessing to get his wise financial counsel, Mark. Great to have you back with us on the program.

Thanks guys pleasure to be here, Mark. There's no question we've survived one of the strangest years in market history and everyone wants to know what to expect in 2021 record highs, or perhaps steep declines, but you're not here to make predictions today. Are you know I'm firmly in the Yogi Berra camp when it comes to prediction score sees that the famously stuff to make predictions, especially about the future. In all seriousness at the beginning of every new year. It seems like every financial pundit feels like they need to weigh in with their predictions trying to tell us what the right moves to make for the year ahead are you know regardless of what's being predicted whether it's the direction of the stock market, whether interest rates will rise or fall. Basically any measurable financial metric there been studies done that have shown time after time that these predictions are unhelpful at best and harmful at worst. Really the uncomfortable reality is that predictions are just a flimsy way to build an investment portfolio. One phrase that I use a lot with our sound mind investing members is that investing is about probabilities, not certainties and were trying to stack these probabilities in ways that give us the best overall chance of success while always keeping in mind that some things are going to play out differently than we expect. That's really the only thing that we can predict with any certainty is the uncertainty that were going to face so enough or willing to admit that making accurate predictions is is really tough, very unlikely and that the whole prediction exercise is probably unhelpful.

Then we start to see that making these quote unquote right investment moves isn't necessarily something we should be trying to measure simply by which investments end up making the greatest gains mean a really the the right choices again that were using that term kinda tongue-in-cheek. These right choices.

The ones that are right for you are going to be the ones that realistically assess your current financial situation, then look years ahead to where you want to go and provides you with a high probability of getting there. Yet, while knowing and accepting that there will of course be bumps along the way. Okay, I would get about a minute before first break so I get started here. How do we make purposeful movement down that road. Yes. So first of all, the right investing decision is always one that's consistent with a specific biblically sound long-term strategy that you've adopted you know many investors cannot collect random ideas and that's their portfolio things that seem like good ideas. At the time, but weren't chosen with any thought of how each piece fits into the whole and that Nina tends to happen by default because most individual investors are responders meaning that there reacting outside information as it comes across their path. If you're making decisions on a case-by-case basis like that without much thought to the big picture that's usually not the best approach so we can talk about what is the best approach here in a minute. Yeah, we certainly can. This is really helpful and I love the idea of being thoughtful and purposeful about how we approach investing in the new year helping us make the right investing choices and decisions in 2021, Mark Miller with us today from sound mind investing check amount sound mind investing.org will be right back money and life run on the same track. Unfortunately, sometimes it seems like your money is heading in a different direction from your goal, and never enough three keys to financial contentment.

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Learn how to save and invest and give wisely 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 store button moneywise.org with us today. Our guest is Mark Miller from sound mind investing recording the Bible and also Yogi Berra Bible Yogi and out turned it back to you move forward with your investments in 2021.

In a way that is purposeful and especially after that set up that's or talking about today. Mark just before the break, you said that often investors tend to be responders, meaning they react outside information as it comes across their path and make investment decisions on a case-by-case basis without much thought to the big picture which is of course what we want to be focused on. So what then is the opposite of that. So the contrast to being a responders. What were always trying to focus on it as semi. And that's to help our members be initiators instead of responders and an initiator is someone who develops an individual investing strategy that specifically tailored to their personal temperament and goals now for person like that the right move that were talking again about these right moves for 2021 well for that type of person the right move is owning investments that they purposefully sought out knowing how each piece fits into the overall scheme of their big picture plan that's excellent. So what do you suggest for person who wants to follow this initiator path that you described, but doesn't feel like they know what they're doing yeah that's a great question. You know, first I guess I'd say here are three suggestions that are kind of big picture suggestions for anybody who's trying to figure this out.

First of all, you should always pray over your investing decisions.

Secondly, seek out and listen to good counsel. And third, and I think this was really easy to overlook. Give yourself time to reflect. Don't be in a hurry to decide and measure kinda going through those three broad steps to examine your motives that can really help steer you around some dangerous pitfalls.

Why am I attracted to a particular investment or idea or strategy. If you're married certainly pray with your spouse in and talk this out until you reach agreement that's really important because you need to both own your investment decisions. Since you're in this together now that's kinda general advice as as we drill down into the investing specifics.

I again I would say seek experienced Christian counsel, whether that means working with a Christian advisor or using do-it-yourself with help type service like what I semi provides you want to be getting some good input into your decisions.

If you feel like you don't really know what you're doing you need that kind of good input and you want to get it from a source that has similar values to you and then you know as you evaluate your options. Take your time to figure out what kind of approach is going to serve you well over the next many years and then settle into a plan and a process that you can stick with for the long haul and I couldn't agree more, and obviously getting wise counsel is critical.

The Bible certainly underscores that idea. What would you say Mark to the listener who feels like investing is just a complicated subject. They just don't understand where should they turn yeah it can definitely feel that way especially when you're just starting out and I would just encourage someone who might feel that way by saying that a good plan doesn't have to be complicated to be effective.

We've got one simple strategy in our SMI handbook that uses just four index funds in a person only has to touch it once a year. Now that's an example of a really simple strategy that has been pretty effective over time.

So you know bigger picture. As were talking about these right investing decisions while the right investing decision is always one that you understand you. Most people really don't need particularly complicated approach. So you give yourself a break skip that complicated stuff. Educate yourself on the basics. You know the right investment step is one where you know what you're doing why you're doing it and how you expected to improve your situation. Over time, and again, if you're not really sure what these basics are that you should be focusing on. We've got lots of free material available@soundmindinvesting.org Freda kinda start your educational journey yeah that's really helpful.

One of the areas the troops folks is that they tend to base their investment decisions on getting the highest possible returns and that can lead someone to trouble Kennett. Yeah, absolutely. Can you know that the right investing decision is one that's prudent under the circumstances, and those circumstances are going to be different for each individual.

So what people often forget is that the investments that offer the highest potential returns usually come along with the greatest risk of loss as well.

And so each person needs to answer the question of how much of their capital. Can they afford to lose and still have a realistic chance of meeting their goals.

You know one great example of this, Rob.

We talk about it from time to time as is the idea of owning the stock of your employer. Now you may work for an amazing company whose stock is a great investment. But for you as an employee of that company you already have so much tied to the success of that one company, your income, your health benefits may be party retirement income, even if that might be a great stock investment for me as a nonemployee for you as an employee of that company. You probably shouldn't own very much of that stock you know be better for you to diversify and not have all your eggs in one basket, even if it would otherwise be a great stocks… A good example of if you're just looking through the lens of where the highest possible returns.

You can actually get yourself in trouble yeah Marcus, we begin to wrap up today and this is been so helpful. It's often said that fear and greed are the 2 Emotions Attended Dr. investing decisions to finish today. We got about a minute left. How do we avoid letting those emotions drive our investing decisions in 2021 yet so hard those of the twin pitfalls.

The ditches on either side of the road that we want to be on you I would just say if you do the things that we've been talking about praying over your decision seeking wise counsel having a long-range plan and diversifying your investments know those are things that are going to help you move forward with confidence and consistently applied. There also going to help temper.

These fear and greed influences that we always need to be aware of them because they never really go away no matter how good we get this, but you know the big picture point were trying to make today is by understanding a few these core concepts you can be equipped to make basic investing decisions that are right for you and hopefully that'll be true in 2021 and for many years ahead. Absolutely. And one thing we know is that uncertainty is certain, so we need to trust a plan that's rooted in truth and that comes right out of God's word. Mark, thanks for stopping by today my friend always my pleasure and you can read more about today's topic what we've been discussing in their excellent article making the right investing decisions in 2021 and beyond you visit sound mind.org. This is moneywise live on.

Steve Moore will be right back.

And if that is robbing you of freedom and peace of mind.

Christian credit counselors can help Wear nationwide nonprofit counseling organization has helped over 3000 individuals in the last 27 years get out of credit card debt percent faster while honoring that debt and phone to learn how Christian credit counselors can help you visit Christian credit counselors.org Christian credit counselors.or call 800-557-1985. You probably strategy for your finance your career even your strategy for your getting national Christian foundation.

Create your family maximize your resources to learn how to moneywise.org/doing here is a quick way you would rise this particular season season, everything can turn a new season.got work to do and we trust him but sadly we find ourselves in a new season as we look at what we think about that mean to you you apart himself.

When you see God in Christ. I want you to know before that very foundation of the world you apart for me think for a moment he would tell us the name Jehovah negative skin and can base a couple of things point right me to write down just like we need to listen relation condition is more mentioned today is ignore that broadcast is a but I think the upcoming information will help you and bless you and making a wise steward of what God's given you must begin by going to Lancaster, Pennsylvania, Haley, what's on your mind today sir. After all? Well, good luck with your grandchildren and I have been thinking about a 529 plan personnel. The first question is the advancing managers of the 529 plan and I did for my kids. I have secured financial counselor to talk to each of them and get them on the right track.

One of the piece of advice that they received this have the grandparent initiate the 529 plan for the grandchildren. I'm not her with advantage or disadvantage of that as well okay well specifically related to the benefits of the 529 plan. You know it's one of my favorite plans simply because you're able to save money on a tax-advantaged basis. You have tax-deferred growth and then tax-free withdrawals. When you use the savings for qualified educational expenses. These plans are more generous in terms of allowing the annual contributions for savers you can put in up to 15,000, which is where beyond that you trigger a gift tax unless it's applied to the lifetime exemption but now you have the opportunity inside the plan to take advantage of the investment option. Some states are better than others, and you can go out side of your state, you may not want to because of in-state tax benefits. In some cases but that's where just comparing the various 529's run the country will work well for you also want to find one with low fees, but it really can be a great way to save for the expenses related to college and I get some of that compounding to work for you without any taxes. Pulling down the gates. You also the ability get the funds out on a pro rata basis for scholarship awards and grants and you can use the funds up to a certain amount for K to 12 private school, so it really is a great tool now in terms of the good having their grandparents open it versus the parents. Generally it's more favorable from a tax standpoint to have a parent own 529 when you are considering the eligibility of FAFSA and receiving financial aid do you have reason to believe Lee would qualify for some need-based aid. I don't think so. I'm not sure why they were advised they didn't understand that either I and I don't mind helping out anyway but I just want to make sure that the best way to go about providing means for my grandchildren yeah but you could still contribute to a parent own 529. The benefit there. If you do have the ability to qualify for financial aid.

Is that a parent own 529 plan is considered an asset to the parent but a distribution made from a grandparent on 529 is considered student income and its substantial assets held by parents can reduce the need-based aid by only around 5% of the assets value where student income can reduce aid by as much as 50% of the amount distributed so was 10 times as much. The other are some exceptions to that you want to take a look at that, but I think generally speaking it be great for their parents to open it. You did then contribute to it as you see fit, and you can obviously do a great deal to help them save the proper amount that's needed to be used down the road specifically for educational expenses. You can read up on the sleep you want to do some homework on line. My favorite website for this, both in terms of comparing the various plans even going through a question-and-answer tutorial that will recommend the best plan for you as well as just additional information on uses of 520 nights is simply saving for college.com and I encourage you to check out leave. We appreciate your phone call today sir, thank you very much enjoy those grandbabies mind visiting at home today.

Lydia's visiting and when I left they were making cookies.

Does that mean you took her to Chick-fil-A today, not Chick-fil-A.

Today we make do pizza tonight.

Okay, whatever. She asks labs and the taskmaster I'm the one is no time in my mind. I say no it doesn't come out that way. Now I'm I'm happy for their little finger both little fingers. Las Cruces, New Mexico hi Mary, how can we help you, our boat now retired and was starting to security. We have a house now I'm in 180,000 we have about eight years and I have about $3000 interest rate below 3%.

We refinanced it naturally happy. We had 3%.

So my question would it be better with their Social Security to this getting 80,000 or savings investment tempting for our later years, or maybe do a split so talk to me about the assets that you have Mary that you would be pulling from to pay off the mortgage.

If you decided to do that well either way I would do my Social Security that we we are just starting to get what we've gotten comfortable with it. Spending very new to my pocket we just got the house policies. Yes, he would be talking about paying it off in a lump sum you would just be accelerating the payoff by adding an amount equivalent to your Social Security payment each month is a right very good. You know I love that idea because you can always stop at any point if you needed the money, but the idea that you could get out of debt completely sooner rather than later is just to get you not only some savings in interest, but ultimately ultimately to a place where your monthly expenses are significantly lower, which gives you more flexibility and as you said you haven't even factored this into your plan. So yeah, I would just redirect all of this to your mortgage payoff. Assuming you have the proper reserves and I love you happily six months. Mary, thank you very much for calling today. Hope that helps when to pause briefly and then will be back this 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 true to your Christian values and commitments. We call this investing makes the world rejoice more is available.

Best eventide.com invest eventide.com. 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 the market sound mind and has a short video webinar on that topic. Sound mind, and.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 and matter what's happening in the market. Sound mind and authors Robert and Nancy want to move the curtain many life stories. They all point same God's hand we see in everything so we can trust him to write it's encouragement you need to control our lives to be written for his glory. You can trust God to write your story by Robert and Nancy will your copy today 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 a new book by Darrell – available@moodypublishers.org that Moody publishers.O RG the financial wealth you leave behind could be the best thing that ever happened to your loved ones or the worst in splitting hairs, giving your money and things to your children without ruining their lives. Ron blue explains why it's important to make these decisions now, instead of forcing your heirs to do it later. Splitting hairs will foster a real appreciation for the precious resources that God has entrusted to you, and it's available. Click the start button moneywise love I.org, what Harris says resigned her CWS and so she could assume the office of VP on Wednesday once sworn in errors will become the highest ranking elected woman in US history. Russian judge has ordered to jail. Opposition leader Alexi not only 30 days after the leading Kremlin critic returned to Russia from Germany where he was recovering from nerve agent poisoning. He blames on the Kremlin ruling concluded a court hearing set up by a police precinct where Nepali was being held since his arrest at in Moscow on Sunday. Swiss authorities say they placed to hotels under quarantine and ordered all guests and employees be tested with a new variant of the coronavirus. It happened at the upscale skiing resort in St. Moritz. This is SRN use a real pleasure to have you with us today as we share God's principles of financial stewardship. Managing your money whether misgivings saving repairing your children for college buying a house.

Whatever. More than likely God's word has something to say about it are certainly some principles that apply and I will glad you there today. No please keep in mind that today's program is prerecorded, we won't be taking any new calls this afternoon, but we hope you'll stay with us because Lisa is on the line. She's calling from Youngstown, Ohio, wellies were so glad to have you with us today. How can we help my mother living in Stuart and Cara long-term care and pension security to cover her expenses. There Amber told her how and bank account hundred $50,000, but most likely won't need 85 men That other white well and Kelly want to know how what might it back but this money is bank checking account much like doing.

Yes, very good, Lisa.

So with this these proceeds from the sale. The property are you looking for this money just to grow or is she going to be drawing an income off of this okay alright so this is really just money that's there for the future if she were to meted down the road obviously wanted stable but we also want this money earning a bit if we can't, you know, I think that the best thing for you to look at right now is to begin interviewing financial professionals that could take over the management of these funds.

The other will be some investment professionals that have minimums that are higher than hundred 50,000 but plenty that could work with this amount of money and what you would be looking for here is somebody who really is a competent professional. The reason we recommend the certified kingdom advisor designation is. This would also be somebody who's in a godly person who understands the Council of Scripture as a relates to money and really is going to want to be invested in knowing your mom situation. Who is she and what's the purpose of this money now and in the future, and given that were not in a capital appreciation phase were in a capital preservation phase of her life, which means protecting. It is paramount and then growing it is secondary. That's going to result in an entirely different type of portfolio that the disinvestment professional would build for you, probably highly concentrated toward fixed income type assets so were talking about government and corporate bonds. Perhaps a smaller allocation to stocks that are high quality dividend paying or preferred stocks where during a period of the bear market, even for a couple years of the money would not be accessed even if she needed a portion of it. It would take be taken out of the more stable investments while the stock portion that would probably be no more than 30% could recover, but the overall portfolio with the combination of the stocks in the bonds would net probably a goal of around 4% a year, you know, so she has 150,000.

That's working for you we be looking at adding 6000 a year and then that would continue to compound into the future and then obviously if at some point she needed it for additional expenses, medical or otherwise, that money would be there so I think given this is a significant amount of money given that I think some professional expertise would give you the peace of mind to know that the portfolio is invested appropriately for what it's intended purposes. I think that's really going to be your best opportunity so I would reach out to only two maybe even three certified kingdom advisors there in the Youngstown area that you can find those men and women at moneywise. I.org just click find a CK and after you have those meetings if that's the direction you going you have questions, don't hesitate to give us a call. Lisa, thank you very much time for one more. I think before the next break, Spokane, Washington hello Phil what your situation regarding life insurance. McCall yeah my court so currently my wife and we got lot turn so or for me. My wife we currently have term life and we got a live or both rigid and my question is would better to so take them out, putting that and just get a retirement account but it wouldn't be much we are only paying about hundred 3250 at another tort court are four accounts for let me ask you, you are still working and your wife is as well.

Is that right I am the only one working okay and what is your age. I am 28 okay, got it right and what is the amount of death benefit you have on the term policy for me 1 million for my why not familiar okay alright and if you don't mind me asking roughly what is your what you earning per year.

Generally speaking, heart salmon construction so I am self-employed, so I would probably around 60,000. Okay, so we would typically say that you would want to have 10 to 12 times your income as a starting point and then you can add to that. If you have any major expenses coming up like if you had kids and you wanted to cover the cost of college, get a mortgage want to be able to pay off the mortgage so you know a 12×60,000, that's around 720,000 if that's a net number and your really bringing home 80 and keep in 60 you know obviously you know that would be a higher number at that point we be talk about 960,000 sought $1 million. You probably in about the right amount of coverage and at your age, it's it's very inexpensive so you think about it this way if something were to happen to you and your wife. You know needs to replace your income so she can maintain her lifestyle will keep the bills paid in the house paid and so forth. That's what that insurance is for. So it's a very small amount of money to provide some confidence and peace of mind to your wife to know that you can still provide for her, beyond your life, and she could take that million dollars and convert that into an income stream that would really help to shoulder a lot of these expenses on a monthly basis so as much as I hear yeah that that's money that's probably your noggin ever seen the return on because your Lord willing, you're not going ever collect on that it's there to really offset that significant risk that exists if something were to happen to you in the Lord, called you home. Feel prior to when you you down the road when you're a much older man. So I would hang on to that, I think the question is what you will need to do in terms of re-ordering your financial wife to be able to create some margin so you can be putting money as a self-employed guy into a separate IRA your very simple retirement account that you could put in it all up to $55,000 a year you wouldn't RBC put that much but it give you plenty of ability to put money away you're still young. You got time on your side.

Were talking 30 years, probably the year to be working but you being able to start now and just being able to suck some money away over time I think is the key. So I go back to that budget.

Look where you can cut back expenses not canceling life insurance but in other areas to create margin to fund at a minimum a Roth IRA for you and your wife and if not just those except very much 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 to moneywise that help you find those answers and you can ask your questions with helpful articles and moneywise sounds great okay searching for moneywise and moneywise.org many people adopt an attitude toward marriage and finances that it will all work out somehow. Sadly, it often doesn't financial woes can devastate a marriage but there is a better way. God's way, money and marriage God's way by Howard Dayton will help you discover God's approach to growing your finances and strengthening your relationship with your mate and cultivating godly joy, money, and marriage God's way is available and moneywise live.org is here to help me understand God's purpose for your life to the eyes of a layman, when you genuinely love my people the authenticity of your concern for very thorough decision cannot be mistaken or dismissed or be more compelling.

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We do appreciate that Rob West your host more back to our phone lines Orlando, Florida and careened what you question today and now the same thing here. Well, there's truth to both equations. The question is why are you refinancing and what loan are you going to get to replace what you have now so the idea that yes you can double up your payment is a good one that's always can help you accelerate your payoff because when you double up anything you send beyond that, monthly payment, Karine is going to go straight to principal.

So you know, if you just send what we talked, or quality of the day, he sent an extra hundred dollars a month and he paid off his 30 year mortgage in 23 years so that extra hundred a month cut off.

Seven years now. Why would you refinance. Well, the reason you would refinance is because you could, in most cases because you're lowering the interest rate and you're lowering it by at least 1%, preferably 1 1/2% so you have a 4% raider 375 and you're gonna refinance at 2.765 or something like that. That extra point or more in interest rate reduction is going to result in a meaningful decrease in the amount of overall interest you're paying now where you can get caught though is you can end up lowering the rate but extending the term and we don't want to do that.

So for instance if you have a 30 year mortgage you been paying on it five years.

You don't want to start over with a new 30 year mortgage because that reduction in interest rates can be offset by lengthening the term so you want to do a 25 year mortgage or a 20 and then course, you gotta make sure that fits into the budget. The last consideration is you. What of the closing costs and are they normal and customary, or are you paying an inordinate amount because all of those closing cost dollars are also going to take away from the overall savings in the reduction in interest. So the last point is you want to make sure you understand that home for at least 5 to 7 years at least. So you can pay back the cost of the refinance and then enjoy that lower interest rate for the life of the loan so given all that.

Tell me what you're trying to do, how how long was your term on your mortgage.

Originally, how long have you had it and what is your interest rate okay and what is your credit score, you know, I'm pretty good at everything up on time you're in the prime situation here Karine where you could do a new 20 year mortgage not a 30 year with a 20 year mortgage. You could probably get that right now at about 2 1/2% because the interest rates are very low right now. 2.5. You could even do a little bit less than that. And so you'd be paying on for 20 years, but you'd be paying you be taken off over two points on the interest rate and then you you you may even have the same monthly payment because even though it's 20 years that drastic reduction in interest rates can bring that payment down quite a bit and then if you wanted to double up on it. You could do that but you be doing it while paying a much lower interest rates are think the key for you now is to go out and get probably be at least three different lenders to take a look at this so you can compare the closing costs as long as you're planning to stay in this home while you could be a prime candidate for a refi that help yeah that's fine I wouldn't just automatically go with your mortgage company though.

I get a couple of additional quotes from some other lenders. I probably go to bank rate.com look at even some of the online banks or mortgage lenders, which tend to have a little bit more competitive rates are lower closing costs and yet 15 or 20. The key is make sure the payment fits into the budget and make sure you're getting that low interest rate. 2 1/2 or less. And you're gonna want to look at the closing cost to make sure they're not more than 1 to 2% of the overall loan amount. Thanks so much Karine Holland, Michigan hey Steve what you question for Rob today. Hello molluscum brothers question is, that would be the answer back to vendors reversing turned around anyway. Now back okay don't get the question is not yet that are incurred in going to the credit bureau is nearly 10 years will drop off technically given to understand and that's wrong anyway that that is no longer incurred. Basically that it is somewhat like incense forgiven. However, I've also been told that you so much as during after that seven years or during that seven years one dollar on it that you actually end up starting the clock all and the second question you gentlemen don't mind is don't think there's a lot of people that understand that the stimulus check is nothing more than a loan from the government because I got a bill for this to check that my wife and I got and told that they were going to take it out of the income tax refunds over the next few years. However, I thought I find it really ironic that a lot of people think this is great.

You'd all got money to help out government and give it to you for free wanted back. Yeah, well, couple things.

Everyone is on the dance your unpaid debts are dropped from your credit report. After seven years, but as you said, there are some exceptions, so if you set up a payment plan for an old debt with the collection agency. The delinquent debt could be cortical re-reported to the coda credit bureau extending the time it's on your report. You see, that's not a reason to pay back the wicked borrows and does not repay, we read in Proverbs it clearly we should have an absolute commitment to repayment but your typically that negative information is going to fall off after seven years, but how you go about paying it back, and whether it's with the original creditor or deal with a collection agency.

1/3 party could affect that timeline just depend on pending on how that's treated in terms of the stimulus check. I'm not aware of any legislation. This can require a paying that back at you.

I think you may have misunderstood what was being communicated. The only thing that will be paid back is the other was somewhat of a tax deferral on FICA taxes that are going to be unless Congress acts were going to have to pay that back you and that's to come out in your 2021 taxes but not the stimulus payments. Those were sent to without at least at this point based on the way the bill was passed, not any expectation of reimbursement so hopefully that's helpful.

Take another look at that communication perhaps talk to a tax preparer to decipher it for you because it's not always plain English when it comes from from the IRS but I think you are mistaken there and what you understood God bless you Steve, thank you very much for that.

Bolingbrook, Illinois. Robert a couple of minutes left ear. How can we help you the quickest and the best so you birthday or that file when the payout yeah it's a great question so you can ask you, you can go online and sign up for Social Security benefits. Now you do that@ssa.gov SSA.GLD to set up an account of why you're doing that just request a start date for the benefits that's a day or so beyond your 70th birthday.

That way there's no question that you will get the final 8% increase for delaying benefits. There's no point in not filing for benefits then because your amount won't increase so you want to go ahead and start collecting and I so security benefits are paid a month in arrears. Like a mortgage so your first payment would come 30 days later but you just want to set that start date just beyond your 70th birthday. Does that make sense. That is correct. Yes, right now, literally, a day after my birthday that's correct yeah what what you're thinking of with the 70 1/2 was a required minimum distribution age which is now been pushed. Actually, the 72 70 1/2 was where you had to start taking a required minimum distribution every year out of an IRA but in terms of your start date for your benefits delaying every year you delay up to age 70 puts an 8% increase on that to check for the rest of your life. So that's what you want to push that beyond your 70th birthday to make sure you walk in that final 8% increase for delay.

Robert will glad you called and we hope that clears things up for you.

We wish you the best. Thank you very much and Rob just a little bit of time left ear but we haven't mentioned in a while.

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