The Discipline-Freedom Paradox

Solomon had enough wealth to do whatever you want to write in Proverbs 25, 28, the man pulled his leg is broken into and left wall is not a very picture it implies that left to our own whims and desires self-destruct Pfizer's Pres. West has a lesson to help us avoid that faith and will take your calls and questions on any financial topic at 800-525-7000 just that give us a call hundred 5257 Steve Moore discipline and freedom of paradox on moneywise. Let's be clear here were talking about a paradox of what exactly is that so paradox is something that seems to contradict itself, but it is actually true or seems to be one way, but it's actually the opposite and today were talking about the paradox of discipline and freedom, both of them can be that way. So essentially there. It error of parent pair. This is math. No is no promise I will hi, what's worse than what you have when when it comes to paradox is will it start out with the paradox of discipline if you will.

The word has developed a negative connotation over time. I think disciplinary action is a means of punishment for wrongdoing, but that's not how the word started out the word disciple as a verb, means to teach a disciple is a student think Jesus disciples.

They certainly weren't being punished as our Lord taught them how to spread the gospel. Let's go back to the negative use of the word discipline. In that context, we think of it as restrictive or limiting our ability to do what we want and that's what makes self-discipline so difficult given the choice we'd rather not limit ourselves.

That's right in thinking of the bakery down the street but most likely you're not, so I will where where does the paradox come in and what you just said that will write about now you know we think the discipline limits our freedom, but actually it does the opposite, especially in the case of self-discipline and let's use money as an example that we have to train or discipline ourselves to live on a budget to save and be generous, as laid out in God's financial principles.

We don't want to do those things. Naturally, we'd rather spend our money on anything we want whenever we want it.

We don't want to limit our options but discipline doesn't really limit those options. It merely delays and focuses them.

And over time practicing self-discipline actually adds to our choices to our freedom, saving and investing. Both require discipline. Proverbs 10 forces a slack hand causes per property about the hand of the diligent makes rich you see as we acquire wealth. We also require more freedom not to spend foolishly but to live in appropriate comfortable lifestyle, and to serve God more fully. That's true freedom. Stephen it only comes from discipline.

Okay, well, speaking of freedom what's the paradox there.

Well, just like discipline. It has taken on a negative connotation.

Freedom has somewhat deserve it undeservedly. I should say a positive meeting and we get to have anything we want, that could be a better car, a bigger house or expensive vacation with all the frills, but unless you're paying cash. All those things just lead the dead which of course is the opposite freedom of Proverbs 22 seven says the rich rules over the poor, and the borrower is the slave of the lender. True freedom requires discipline or it will lead to disaster freedom without virtue becomes license from which we get the word was sensuous, which means having a complete disregard for rules or morality. It's interesting to note that our founding fathers knew this, they give us more freedom than any people had enjoyed in history, but they knew that our nation could only survive if the people remain virtuous. To paraphrase many of them without virtue or discipline. There is no liberty there is actually a story Steve about a woman stopping Benjamin Franklin as he was leaving the constitutional convention, and she asked what kind of government. Have you given us and Franklin replied a Republican madam.

If you can keep it and I've heard that before, and that's a great great response. A good job and so was sum this up for us, Rob, what do we need to remember and obviously all this goes back not just the founding fathers, but to our Lord and Savior Jesus Christ.

You're exactly right. And we need to remember that discipline is a good thing. That freedom can be dangerous.

There is an immutable law of discipline and this is the essence of the paradox, discipline only appears to constrain us while freedom only appears to allows have anything we want without earning it.

In fact, the opposite is true. Without discipline there can be no real freedom. The paradox of discipline and freedom. Thanks, Rob Rob also taking your calls in just a moment. This is why you like your life to be infused with joy. Would you like to project an internal dimension into even the most ordinary day on the radio 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 finding the immediate 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 Christian healthcare ministries enables believers to show love for one another by sharing each other's health costs through CHN's voluntary health cost-sharing programs members uplift each other spiritually and financially. CHN is an eligible option under the affordable care act and a Better Business Bureau accredited charity interested. Learn more by calling 800-791-6225 or online at CH ministries.more.

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Currently have 300,000 in my 401(k), like 200,000 in her and together we have 60,000 I'm contributing 9% into my 401(k) my players not only never owned a home in me. You want to buy when the summer and we currently have 40,000 down so my question is, unfortunately a lot of conflicting information going on right now the rumors that the administration not going to be in big trouble, to say the least. That's a real possibility. I like the money I had it. I'm interested in going up to you thousand dollars for my 401(k) to add it to my downpayments I can get 20% avoid mortgage insurance. I know that typically the advisors never withdraw retirement. Just moving money from one investment to another, which would allow me to avoid throwing away several hundred dollars a month in mortgage insurance payment yeah yeah well I appreciate that over.

Great overview Drew.

It sounds like you are doing a lot of things right.

I love the fact that your debt free except for this mortgage that you potentially would be taking on here in the near future. You guys have obviously been diligent savers which means you kept your lifestyle in check because one way you can have that kind of retirement savings at age 40 is to have some margin which clearly you've been putting toward long-term investments in a tax-deferred vehicle you're continuing to contribute 6% toward retirement skinny 15% toward retirement 6% of which is coming from your employer, but 15 is the goal based on the income that you're living on as you said you're the only one working so you all are to be in a really good spot long-term. In fact, and we should all do this, but clearly when you're off I think doing as well as you are terms of what you already accumulated and what you're adding to it.

I would really be thinking and praying about what your financial finish line is because I believe this is believers you know we don't just accumulate for accumulation sake you. We realize we are blessed to be a blessing that we should be up, not a bucket where God's provision stops with us but a pipeline into God's activity that includes providing for families which means we say so that we can provide for ourselves and whatever lifestyle we feel like God has led us to in retirement at such a time when we perhaps can no longer work for pay. Even though we may redirect their time and energy to something else in God service but I don't think that's an open ended accumulation goal, we need to set a finish line. Both her lifestyle and that typically has to do with income and for our balance sheet, which has to do with how much we will save for the long haul and when we reach those they gives us the freedom to give more away so we need to be thinking and praying about that, as to the 401(k).

Are you thinking about that in terms of it being at risk because of a change in government policy related to that the tax benefits or because of economic or market crash. Yeah economic all right you know if we were to step back and look at that that would not be my base case of the yes we've got some challenges that will come to roost down the road we are going to exceed US GDP in terms of the amount of US national debt that we have that's not a good thing. That number continues to climb and based on what we know about the new administration's policies.

It will climb rapidly because of the a lot of spending going on both in stimulus as well as infrastructure and other programs. But I don't think were in a dangerous spot now. The day economist that I trust the river believers that there really are skilled in this area would say that were still good ways away from that being a real problem for us yet we are going to have to deal with that in policy changes down the road and that may come in the form of reduced entitlements.

It may come in the form of higher taxes, any number of things, but it will have to be dealt with.

But I still think the underlying stability of the economy is very strong. The consumer is very strong corporate earnings are very strong now so I have no reason to believe that we won't see a continuation in the future of what we have seen historically and that is that the US stock market is the very best place to be with your long-term investments so long as you have the right time horizon and a mix of investments that's appropriate for your age objectives and risk tolerance because we been through some pretty precarious situations every decade. If you go back the last hundred years has had its event that was unforeseen from oil embargoes do you name it. You know it's been there tech bubbles in the Great Depression, and you can factor all these things in there a financial crisis that was systemic in nature and yet if you have the Longview meeting 10 years plus the market always rebounds and moves to higher territory and if you get more more conservative as you get closer and closer to retirement, then you know you are investing in a way that's appropriate for the risk that you're taking on so to move out of that and invest necessarily in your real estate all the real estate can be a great investment. It's still not going to perform at least historically speaking, as well as a properly diversified investment portfolio. Not to mention the fact that it tends to not generate income.

If it's not an invest in a rental property and you know it's it's somewhat illiquid.

So if it were me I would just stay right on track with where you are now, if you wanted to temporarily decrease your secure retirement savings so that you can accelerate the money going toward the down payment to be able to get into that house with 20% down to avoid that PMI, which I agree does nothing for you and then resume those higher payments getting back up to the 15%. I'd certainly be on board with that. But moving out of your 401(k) because you have this new administration, or any number of other factors would cause us to believe that there is some sort of economic crisis and on the horizon. I just don't see that and don't feel like that would necessarily be the way to go but tell me your thoughts.

Looking at her cricket all right and I appreciate your call you. We do appreciate you listening to the questions down the road you don't hesitate to reach out to S to you and your wife Jewish you work through all this and put it in God's hands, and I look for his direction. Thanks very much. But Rob, I know you didn't just give the advice you did to Drew because you knew that's what he was looking forward to hearing and I know you are an optimist, but at the same time you're an honest optimistic the truthful optimist in you and many of the economists we've spoken with in the last month or so have pretty much said the same thing. They don't see any terrible curtain dropping on the economy or the country as far as investing in that kind of thing. The others just your most people that that really studied this that also have a biblical worldview I think would say of something similar and that is there's nothing in the in the immediate horizon that can be anticipated that would result in a major collapse or even all of the bear market.

Now the market tends to be cyclical and were 12+ years and so it's due for a recession, a bear market. Even though we had one last year it was very brief but just look at the resiliency of this economy going through what we went through in 2020, and you have to agree.

I think if you look at that. That is pretty impressive. With the economy was able to weather but we don't know what the finish line is as far as the pandemic is concerned. Should that keep us awake at night. Well get what we know is that in terms of real productive activity.

The sectors of the economy that really have been impacted the most are still fairly narrow, that doesn't mean there's not a lot of people out there that haven't been hurt economically as a result of this personally. There absolutely has many in our listening audience are at hours reduce they been laid off and that's real, but in terms of the overall effect of our US economy. The collateral damage has been limited to a few sectors that are not going to result based on what we know today.

In the real problem this year. In fact, most economists think US GDP will grow at its fastest pace this year than it ever has.

If we can help you today with anything financial give us a call. Rob West taking your calls at 800-525-7000 police. 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 3000 individuals in the last 27 years get out of credit card debt 80% faster while honoring that phone to learn how Christian credit counselors can help you visit Christian credit counselors.org Christian credit counselors.org or call 805 71985. You probably have a strategy for your finance your career even your entire minute. Do you have a strategy for your getting Christian foundation giving strategy to inspire your family maximize your resources to learn how many lines.org and share everything to actually click away skin practice. I told you before we go back in part on whether or not we are saved. God knows who belong to him. That's all there is to some is the enemy we mark what we are in Christ, we are not in Christ is obvious. They have a nice what would happen if we became convinced that what would happen if we almost on invisible terms what would happen differently when we land we could take a black permanent marker, and we just run up warheads holy to the Lord, we would have firm we been called, but we make some decisions.

I different way you want to be when you grow up listening to a word like just sort call today.

Have a question for Rob West 805 five 7000 question of any financial consequences just fine. If you'd like to listen Rob an email keep it brief, just a couple of lines.

If you'd like to hear it read in the program that address is questions@moneywise.org questions@moneywise.org and we may get to one of those bit later in today's program. But first, that's Hanover, Pennsylvania. Ron, thanks for holding my friend what's on your mind today. Thanks for listen to me appreciate it. You bet recently sold my home a couple years ago and I got remarried and my wife and I are retired we live in a retirement place will we pay for the home and in your party so much to look very familiar with that and we have the quite a bit of cash it send the savings in the bank and I was wondering what you would suggest that would be a safe place to put it that it wouldn't actually have to go a lot of money but be better than what savings would you suggest we do with the $400,000 that we have in our you haven't drawn income off of this 400,000 run.

Now we both are comparably awful. Both of our Social Security okay so this really is a surplus and you would expect that this would just continue to grow in the future until you need it. If you had a major expense maybe medical maybe something else and if not then you know you could pass it on as an inheritance, give it away. Something like that yes as we get older, going to law, no care unit or whatever. It's very expensive so I might fourth to make a little more than what it is now to take care of both of us that we get to that point and do you have concern about putting a portion of this at the risk of the stock market in a lot of times what would happen with a portfolio like this. Especially when you don't need it, is that it would be deployed in stock and bond portfolio where maybe 30%. You know or so, maybe 40 at the most would be at the risk of high quality stock portfolio probably have some dividends that would be paid on them. The bulk of that 6070% could be in fixed income bonds, corporate and government bonds.

You know, generating a return. Perhaps you know certainly better than you get in a savings account and that the mix of the two might yield 45% a year, but recognizing that if we got into a bear market. The last couple years that stock portion. You know could be down 20% or more which would bring the overall portfolio down but the idea would be that during that period of time. You certainly wouldn't sell anything and with the market rebounds as it has historically then that part would recover. But that would provide kind of the growth engine over any you know 5 to 10 year period that would supplement the other fixed income which would get your return. Up to that, you know, four, 5+ percent return, but there is obviously some risk associated with that as opposed to transferring that risk to let's say an insurance company read by an annuity product which can be somewhat complex. Also somewhat expensive and but yet can provide the floor where the money is guaranteed not to lose value and then you get a portion of the upside. If it's a variable annuity or a fixed return. You know better than your short-term CD at a fixed return that would be paid to you from the insurance company which of those sounds more akin to what you are looking for the fix that one of the financial advisors at the bank format. Talk to me about one of the insurance programs and I had one that Dr. gave him 300,000 that would lock it in for five years it went. I think like 175 all the way to 275 at the end of five years and 300,000 would make a little more than $33,000 guaranteed money that can percent out without yeah okay so there are products out there like that.

I think the key is you just want to make sure you understand all of the ins and outs of those because they can be complex, but if you really don't want to have any risk associated with this. You want to transfer that risk to somebody else. That sounds like an annuity contract and insurance products could be the way to go. I think the thing to understand is there not created equal.

So what I would do is compare with your hearing from your local bank to perhaps what might be recommended to you from one or two other investment professionals.

There are such things as no-load annuities meeting where there is no commission paid out of them, which gives them more to pay in the form of a of a return, but you looking at the various types of insurance contracts for this purpose where you could get a little bit better return and not have to worry about losing any value over time.

You could be a great thing based on what it is you're looking for, so I would say go to our website moneywise.org.

Click on find a CK and I interview a couple of additional investment professionals tell them what you're looking for. Ask them for a quote on something that might be comparable or preferable to what you're being recommended from the bank and then Nessie which seems like it's the best fit for you run a health information helps you. Thank you very much for your phone call today. We do appreciate it coming up are going to say hi to Lynn and Cheryl and Janzen, Cleveland, Tennessee, and also Shane in Michigan that perhaps your call as well.

You have to place a call to make that happen. 800-525-7000. This is moneywise and I where we always remember that God owns it all will be right back. 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 redesign investments for performance and better world so you can invest for the future with a sense of wholeness and purpose. We call this investing ask 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 can sometimes be possible to enjoy both profit and peace of mind and investing the matter what's happening.

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I mean where is a no go. It sounds like you need to moneywise And track your spending three dollars you spend every morning on coffee every morning and get access to free difficult financial advice sounds awesome. Let's do it. Okay, searching for moneywise any abstract drugs. Pres. Biden is putting it ablaze national go with 19 strategy to wrap up vaccinations and testing reopen schools and businesses and increase the use of mask will also include a requirement that Americans mask up for travel Souderton virus related executive order today he faces deep obstacles, including uncertainty over whether congressional Republicans will passes $1.9 trillion coronavirus package abide administration has suspended new oil and gas leasing and drilling permits on public lands and waters for 60 days.

It's part of a review of programs at the US Department of the Interior stocks drifted do affects close on Wall Street today Vidal dropped a dozen points.

The NASDAQ gained 73 the S&P 500 was up one point this is SRN use listening to moneywise live from West here taking a call to questions today about anything financial is saving, investing, maybe it's buying a house buying a car saving for your kids college all those things and probably a lot more were happy to tackle them when you call 800-525-7000.

We have several people holding so I should probably be quiet and say hi, Lynn, in Tampa Florida. Good to have you with us today. What's your question for Rob Gray, Lynn, wait a minute you're writing you now that I'm treating you good for you, so it's nice and warm today and hopefully that's great okay make sure you keep the lookout for anything that would be dangerous and go right ahead and filing networking works well thank you make a good living family here no benefit For our market. Thank the Lord filing can spell everything out calling me. Help me right over there, along with my 401(k) which is not right now. How about 100 on a completely debt-free and redundant will be going anywhere for any spelling it very clear that if their connection hoping that I can have money to give freely when I rest it out like that just kind of wondering if that is both in our mid 40s work last okay to talk to me about your income sources. Lynn, you are obviously continuing to work based on your current budget, which includes your mortgage. What is that shortfall every month.

Now that he's taken early retirement savings are not elitist at our belt and everything clicked like at night. Everything mechanic 2400 and now everything and I went down and I'm not sure saving anything okay is planning to earn a paycheck in the season now and doing our meant and you can actually start you make contacts or people yes okay and has he done this before and does he have some reason to believe that he really could make some money doing this or is this kind of a new venture and he still testing this out if you have really helped venture.

Well the good news is it shouldn't take a lot of the startup costs means going to do this from home and the materials said he could perhaps you know by make things and then sell them before he starts the next job to get paid. You have the startup cost should be minimal as I write okay well you know there is an opportunity mean if the is a result of coalbed that you are taking money out of a 401(k), you have to be able to answer that honestly I don't know how that played into his change in employment.

The other is the ability to take up to hundred thousand dollars out of a 401(k) under the cares act, which would be a hardship withdrawal without the 10% penalty now would still be taxable but you get three years to pay the income tax rather than it being due in the same year. Would that apply here. Do you feel like the situation as it is a direct result of the pandemic under the cares act you can take up to hundred thousand dollars of your 401(k) without the 10% penalty, but it does say that it has to be. As a result of financial hardship that was brought on by culverts.

We want to obviously make sure that you can answer that with complete integrity and if not then you have to consider okay is it worth taking this out paying the tax and the penalty to pay off the mortgage and I'd I just don't think it is that's it's expensive money because you had the taxes to the penalty and now you're taken 30+ percent right off the top you know sending it to Uncle Sam. Yes, we could potentially pay off the mortgage and that takes that expense off, which is good to keep your lifestyle at a minimum during the season but you know that that tax bill was the penalty on top of that money not growing tax-deferred unit for the rest of your working life being available in retirement is not something I'm excited about. So what I would probably do is just really buckle down, looking even further cuts into the budget while he's getting this business up and running good thing is is not having enough to buy into something it's not signing up leasees not having to purchase a lot of equipment.

Probably you know when he can start small and see some immediate income and if you can prove that out and you bring in enough to just continue on your current track of paying your mortgage payment leave that a 401(k) loan that would be my preference. Just because that monies their mate and playing that big build Uncle Sam. And when you get to retirement, I think, to be glad that it was there compounding for you for all of those years and we wish you the best. I just want to drop this on you and you can do with it as you wish. You mention your husband being handy with wooden everything. There are wooden bicycles. I don't know what you're writing right right now is probably not what our wooden bicycles. I've seen them. I've touch them and other either made of exotic woods or bamboo and are very expensive and if you fall and hurt yourself.

You are already a nurse.

She kinda got that part of the cover, as long as you stay conscious.

You're good to go right retirement is is is is you know it's not all it's cracked up to be. So you don't forget to wear your helmet that to and we can have let you go but we wish you guys the best. Thanks very much.

Thanks for calling today 800-525-7000.

What we don't have time to speak was terrible would come back and say hi to Cheryl and Jan and Shannon, Shane, and we got some other lines open as well. 800-525-7000 not handy with would you know what we need Rob speaking of what the last thing I tried to do with would in my own talent is putting together IKEA furniture, directions. It's not saying no. So start a business. That'll do that for other people and I'll be my phone number after the program you listening to moneywise buying a home is the largest most nerve-racking purchase. Most of us ever make. It doesn't help that you're entering a maze of unfamiliar words and confusing options that can leave you intimidated frustrated and afraid to been taken advantage of navigating the mortgage mates by Dale Vermillion helps you clear up the confusion on rack your nerves and make the best mortgage decisions possible with confidence navigating the mortgage maze available when you click the start button moneywise live.org.

Here's a great deal more about our money than most of us imagine Jesus says more about our money and possessions and about anything else, including both heaven and hell in managing God's money. Author Randy L breaks it all down in a simple, easy to follow format that makes it the perfect reference to what you're interested in gaining a solid biblical understanding of money, possessions and eternity managing God's money is available in the store moneywise live.org is here to help me understand God's purpose for your life to the eyes of a layman, I discovered that what I here's a really good news. I want to be the first want to tell everybody I know about it. It's really good run. Why would you be hesitant to tell people we have the best news in a history of bad guy I talked to the course about the gospel, which means good. Mostly were filled with guilt, with no comprehension for God loves them and yet you not only know that God loves and wants to spend eternity with him in heaven as his good news and the only thing that will matter a person have to hear the good. Why would you present your job is revival outside the walls of everyone and everything is doing that go tomorrow. TW.com this book is for real problems Americans seem loneliness and depression are on the rise in wealth is doing nothing to make us feel whole in their newest book becoming whole office. Brian figured in Kelly and Argue that we Christianize the American dream and it's tearing this captivating book, becoming whole demonstrates what it means to be revealing how we project our own goodness onto the people trying to help get your copy of becoming whole with us today.

Thanks so much, 800-525-7000.

Rob was taking your calls answering your questions today at Topeka, Kansas hello Cheryl, how can we help you should dollars coming in 2020, and wait quite a bit recently. I found out that the taxes, interest, share, and wondering why taxes they share and still and waiting until 2022.

Yes you do have a choice Cheryl as to whether you report the interest every year or put off or defer reporting interest until you file the income tax return for the year in which you redeem the bond and receive what the bond is worth including the interest. I think the question is when you have to report that once I know once you do start to report the interest every year you have to continue to do so every year after that for all of your savings bonds and any you acquire so you know, in terms of how you would do that I would go to the to treasury direct.gov to learn more about that. That's a really helpful resource but yet it would spread it out Cheryl which I kind of like so you don't have this big euro tax bill due in the end, the key is you have to keep up with that and make sure you're doing it every year versus not the answer to. It really doesn't matter it comes down ultimately toward and how you want to handle it, and given that you've had this for a while and you're just now electing it. I think you need to look into that. Just to make sure that that you understand the implications of how to do that I keep in mind the bond interest is only taxable at the federal level.

The only way though to get your bike that would be to redeem the money and use it toward qualified educational cost but there are some qualifying rules for that so I don't have a real preference. If you use a tax preparer I would consult with that individual just to see if there's any reason why you'd want to do it. Along the way versus waiting but to you as far as seven concern whichever makes the most sense based on your your tax situation each year is probably the way to go Cheryl, thank you very much we appreciate your calling today and for your patience, and we hope that Claire hope that answer helps you very much that I Cleveland, Tennessee. Jan little bit of time. How can we help you call home, no talks about how money got spent selling out What Jan I'm so sorry to hear about your husband's passing. Were grateful you called in today were pleased to be able to offer some assistance your money you receive is a part of an insurance claim or settlement is typically not taxable. The iris only levies taxes on income so that would not be taxable in terms of death benefit as for the stimulus payments the test whether their taxable answer is no. There as well. The IRS says the payment is not income and taxpayers will not owe tax on it and it will, it will not reduce taxpayer's refund or increase the amount they owe when they file their 2020 or 20, 21, return.

So I think in both cases, the answer is no and so I think moving forward my counsel to you would just be you see if there are some of the can come alongside you. Perhaps an investment or financial professional friend or family member you as you move forward and make decisions for this next season of your life regard to how to steward God's money. Someone to lean on with questions as you move forward, but certainly from a tax standpoint, the answer would be no to both of these and we appreciate very much your call today.

Bless you Jan thank you very much for calling Robin as we are within a couple of calls you're asking about dates and interest rates and things like that and off-line. We've had a couple of the callers ask about the cares act and when that actually expired. Is it too late to do anything in that regard.

What about paying interest or taxes on thatch.

Anything you can clear up last year yeah our team did a little bit of additional research on that in that particular cares act 401(k) hardship withdrawal benefit did end on December 30 of this year, actually. And so that her last year so that is is no longer available. So I think going back to that previous question about whether to take it that further underscores the need to leave those 401(k) funds alone, if at all possible. Okay, good.

800-525-7000 pollens, Michigan, and Shane, welcome to moneywise. The what's on your mind. Thank you for taking my call to ministry. Thank you so now my student loans are on covert related forbearance and trying to build up three-month emergency fund and wondering what your thoughts are. As far as using my payments to build up the emergency fund, even though I am able to pay so you don't have anything really set aside for emergencies. Is that right I'm nearing $4000.

Okay I sure inching.

What are your expenses every month roughly about $4000. Okay yeah they how long would it take you to put another 8000 way. Let's say I'm not positive. Okay, just based on what you know today what your what you have available. Because your student loans are not being paid therein. Deferment what what is that amount on a monthly basis about $400 okay so if every two months you guide to $800 would be talking about 10 months you I like the idea of you at least having a couple of months worth of expensive so I'd probably say let's set a goal for you over the next six months to save another $4000 and then not redirect that into additional spending once you get there, but immediately, regardless of what the government says about whether or not you have to immediately begin repaying those student loans as agreed and let's try to get those knocked out just as quick as you can, but that way it will keep you from you know an unexpected expense requiring you to tap a credit card or something else. I like the idea of you have in a couple of months there in reserve, but I certainly don't want to tell you to wait to pay those student loans any longer than you have to.

Once you have that money because we want to get those paid off in full. Shane, thank you very much we appreciate that. Hope that helps you one more. I believe Ringgold, Georgia up north of us a little bit hey Kathy, you have a couple of IRAs not know why or if it possible to together into one yeah it is both wise and possible so you can combine IRAs as long as they're yours, meaning you can only have an IRA in one taxpayers name. There's no joint IRA or anything like that.

But if there for your old jobs. Old 401(k)s are for three B's. I would roll them into a single IRA that's just can create a little simplicity with regard to oversight investments and just upkeep in terms of monitoring those monthly statements that I think you be glad you did.

Thank you very much, Kath, John, you are our final caller today calling from Naperville, Illinois, and what we help you with hi, thanks for taking my call shop my my recently received a large payment of of over six figures and money were not used to and we know that the Bible tells us the first fruits go to the Lord and taxes haven't been paid on it and that money that will be able to use for letting my fiancé and I bought II wanted to know what amount we should give and we weren't sure whether that & Dort a different amount but we were hoping to get your wisdom on this appreciate that question John clearly you want to honor the Lord with what he's entrusted to you, which is a significant sum of money and I would agree with the given proportionately and systematically as God has prospered you, which is what we read in the New Testament is the way to go.

I like the idea of applying the principle of the time that would be 1/10 but you were not under the law were under the law of Christ, not the law of Moses and so this is not about being legalistic. I think this is something you should consider on your knees but yes I think clearly in the old and New Testament, we give based off the increase in this is clearly or increase and we get proportionately and we can up ply the principle of the tie that is certainly a rule of thumb, a starting place, but ultimately between you and the Lord where you land as to how much you would given at what point, I think you need to consider that prayerfully. There's not a right or wrong decision there. So think you're already on the right track by just acknowledging this is something you need to be thinking about and asked the Lord to really make it clear in your heart, what amount he'd like for you to give and where that aligns with your passions in his heart in terms of for the activity that he's doing that is obviously reaching people so appreciate your call today. Am confident the Lord will honor your faithfulness and wanting to give based on this money that he's entrusted to you and John congratulations and all the best with as far as your upcoming wedding is concerned. Thank you very much for calling today Rob just about out of time here but one very important aspect of this radio program which enables us to be here every day is the help in the financial generosity of our listeners right well it sure is Steve that we are listener supported here at the moneywise media so thankful for our partnership with Moody radio but we couldn't do what we do without you and that is through your prayer and financial support. So if you listen to this program regularly. You're part of what we call our moneywise family.

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