Rebels vs. the Establishment on Wall Street

In 1901. A woman by the name of Annie Taylor climbed into a barrel that she could ride that barrel over Niagara Falls. The first person to do so. The reason for her crazy endeavor. She was struggling to make ends meet and she was hoping for fame and financial security, it's Ryan from United faith mortgage of faith and family mortgage.

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This advantage often allows us to get you a better rate, which can save you monthly and lifelong money through refinance or help with the cash out refinance cashing out some of your home's equity to use for life. We are United faith mortgage not in faith mortgage is a DBA of United mortgage Corp. 25 Belleville Park Rd., Melville, NY license mortgage backer for all licensing information, go to an MLS consumer access.org corporate MLS number 1330. Equal housing lender not licensed in Alaska, Hawaii, Georgia, Massachusetts, North Dakota, South Dakota and Utah and were all familiar with the account of David versus Goliath in the Bible as well as similar story has been taking place on Wall Street, but with millions of David's followers of red in the social media discussion site are buying up shares of trouble companies by the truckload and causing a panic on Wall Street today kingdom advisors Pres. Rob West has the details. Note were prerecorded today, so please hold your calls till next time. It's the rebels versus the establishment walls. Next right here moneywise. Five. Rob, we don't we talk about individual stocks or name names here in the program and we want to make it clear that were not advising anyone to buy the companies that you're going to much that's true Steve, this isn't investing advice. We just want to inform listeners about a phenomenon on Wall Street. That's really changing the way things have always been done in the power of social media is playing a big role right. But let's start with who's involved. On the one hand you have a very large group of young upstart day traders.

These are millennial's and younger people, even down to Genesee on the other hand you have the establishment professionals who manage large fonts. Also, hedge fund operators and what they call short-sellers that last group is people who basically bet on a company's stock price falling in a take it. These two groups don't always get along well, up till now. The old timers probably haven't paid much attention to the youngsters. But these young day traders have always had it in for the Wall Street professionals whom they blame for causing big market downturns like we saw in 2008, so they feel they're finally getting some payback and how exactly are they doing well. This is all taking place on a certain Reddit page called Wall Street bets which has actually 2 million followers. Other able to communicate with each other and identify struggling companies that are likely targets of the short-sellers, the day traders then buy options for those stocks.

I maybe it would help if you explain how this works right options are essentially bad, since investors put on the stock, allowing them to buy or sell at a certain price when that happens in large volume. It can force the price of the stock up or down while short-sellers are investors who essentially borrow shares at one price hoping the stock's value will fall well when it does, they settle the account at the lower price, keeping the difference is profit, but if the stock's value climbs higher well they lose money okay and that's what's been happening with this Reddit Wall Street bets business exactly plenty of those 2 million Wall Street bets followers are buying up stocks of the companies like game stop blackberry Bed Bath & Beyond and even AMC theaters that as a result of their stock prices have risen almost beyond belief. I game stop has been sliding in recent days, but it was up something like 1700%. At one point, now we are not telling you to buy those stocks and will get into that in a bit. I so the hedge fund guys in the short-sellers are losing their shirts right now is at the DS and driving those stock prices even higher is that they have to buy shares themselves to hedge their bets and minimize their losses, but no wonder that they call it a short squeeze the Wall Street elite are really getting squeezed by these upstart millennial day traders okay well and and and why do you think this is happening right now. Well, in a word technology stock trading is undergoing a major change maybe you could say it's been revolutionized by technology and no fee apps like Robin Hood, but these apps allow armchair investors to use sophisticated tools like options that were once only available to the Wall Street elite will then you had in a platform like Reddit with millions of followers and suddenly a single post can affect the price of a stock hundreds of post by people saying they were buying game stop or another of the troubled companies and prices began to soar one Wall Street bets poster said he'd Artie paid off most of the student loans, thanks to buying game stop options. I think this might be a good time to say it once again that were not telling people to start buying these stocks. Absolutely this is just another bubble in all bubbles burst at some point, you know, if you jump in. While prices are high. There's a real chance the price will collapse.

By the time you sell it to children's game musical chairs when the music stops. Someone is always left without a chair to sit and we always advise folks to have a long-range investment plan with an appropriately diversified portfolio of stocks and bonds depending on your age. In the years you have before retirement. Let me finish with Proverbs 21. Five the plans of the diligent lead to profit as surely as haste leads to poverty. Thanks. Rather, they were on Ted today, but we have some great college questions already lined up for you and their straightahead this is moneywise on back to moneywise live where we member that God owns it all. Also, please remember that today's program is prerecorded, don't try to call us. Let's go back to phones, roots, town Ohio hello Bob, what's on your mind today sir okay. 27. Dollars national debt or more unfunded mandates, Social Security, Medicare, compared to the GDP. I perceive a thought that the dollar today is technically actually worthless them government is broke, were living on printing money. Therefore, inflation. Inflation. Inflation. Most of what you see and rob their promoting our investing in dollar accounts, stock market is a dollar account 20 $30 account. I perceive when that day is coming soon. The dollar will not be valued at anything through inflation and evaluation. My question is what tangible items, gold, silver, copper, brass lead can be had or used. That is kind of off grid, but not too far out to be considered fringe is something I can invest in and hold that will maintain a value if and when the dollar goes worthless. You know, God entered what.

Sure, I appreciate that Bob and I'm not sure you're going to love my answer because not you here's the reality is that you're right, we are reprinting a lot of money. Yes, the national debt I believe is a bit out of control. We have been war will exceed this year for the first time ever more national debt than we have one year gross domestic product that 27 trillion which about roughly the size of our economy and the good news is that even though the national debt has been on a tear. On the upside, the last decade, with interest rates as low as they are the debt payments are quite manageable right now and we have a massive economy that's actually still doing quite well and has weathered the pandemic quite well now I agree. Monetary policy is a tricky business in the defendant has quite a number of tools at their disposal. Most notably, how they raise and lower interest rates and I can tell you that most people are expecting inflation to take up to about 2% by March and if they see it at that level sustained or moving higher.

What they will do is what they always do, which is begin to raise interest rates and it's always a tricky game between raising rates.

Such to keep inflation tame and yet still keeping the cost of the economy and the stock market expanding. So what you do if you believe that the dollar was going to collapse or we have an economic collapse or something like that.

The challenges if everything collapses like you're describing.

We that much bigger problems, whether or not you had bars of gold or silver, or other precious metals or commodities, you know man in a safe place nearby because you'd have to be able to convert that to a denomination or means of exchange. That would be appropriate to buy a loaf of bread or to buy a gallon of gas.

I just don't think that's where were headed that does that mean this couldn't get out of control down the road know it could, but I think when our backs are against the wall, we will make the hard decisions and the policymakers will have to address the debt. I wish we would've done it during the boom times the last decade before getting to the pandemic and that's been a real problem that even when were in those times of expanding economies and stock market that's growing rapidly were not balancing the budget and dealing with surpluses to pay down her debt. That's something we have to correct but I just don't see the alternative being one that's prudent and effective, and I think at the end of the day. We can't control those things. What we can control is what God has entrusted to us and I still believe that the very best way for you to be a faithful manager of God's resources is to live well within your means to have an appropriate amount of cash on hand and to be investing for the future, either in real assets like property or stocks and bonds.

Now if everything were to really get very difficult. You know, I don't think you're necessarily any better off by having these stores of value just because of how hard they are to secure and use that as an effective means of exchange. So I think at the end of the day we trust the Lord and I think we as a nation will deal with the things you're describing appropriately when the time comes, and when we have to. And I don't think that Dave is quite here yet, but we do appreciate your call and your intriguing question and your 57 years of marriage. God bless you and your wife again Chicago Chuck welcome to moneywise live your question for Rob hi yeah my call.

I didn't banking at Bank of America for 30+ years and I had a what they call a personal line of credit which is bait. Overdraft protection and Dave recently got your letter and never changing the terms of it, but they were changing the account they were actually deleting the account so I just want to do business with them anymore. Already at the time to be doing it. Everybody's trying to make ends meet. So I travel all over the country. I got tractor-trailer looking for something where I'm not spending a fortune and ATM. Yes, let me ask you, Chuck.

What is important to you, other than the free ATM withdrawals with a robust nationwide network do you want to have a brick-and-mortar bank that you can walk into. Are you comfortable using an online bank you as long as you have an ATM network with fee free ill access. So what is it you're looking for. Yet while my wife is obviously at home so she we live in Maryland so cheap all not all of the country out so I need her to be able to get money if you need to get money so she can get an ATM without that great. That's really the big thing right now yes okay well I do not think you mean you could do a couple things number one is either bank rate.com or nerd wallet.com could rate the banks so you could get an idea of from a customer service standpoint fees the robustness of the ATM network and all of that would be there and you could do a bit of research just to see what can be the right fit for you. I think the biggest decision is are you comfortable with a purely an online bank that's not going to have any brick-and-mortar establishments that you'll be able to walk into, but you have to do everything online or through an ATM. If you are there some wonderful options I you and I like Marcus a lot. I like Ally Bank a lot of now I.com I like capital one capital one 360. I like a lot both capital one and now I use the all point ATM network which is the nation's largest no fee network they got over 43,000 ATMs, including at places like CVS and Walgreens and target other national retailers so you know I think that would work for you in the sense that you wouldn't have any fees get a decent interest rate on your savings you can have access to the funds through the ATM. I think you'd be happy with their customer service. They went all kinds of awards. The key though is you're not going to have that brick-and-mortar bank that you were she can pull up to walk in see somebody face-to-face and you do whatever business you need to do so. I think that's the starting point if you if that's important to you, there still are some great options and again I think those two websites can help you narrow down the features that you're looking for with the service and the fees that you also expect again nerd wallet.com or bank rate.com. Thank you Chuck. We appreciate that call today.

One more quick one Murphreesboro, Indiana and Jennifer three minutes that squeeze it in right. I will wear gray and by looking at what our next steps. I would get found out that with any remodeling in the house got that flooring by our house every year ago.

Long story short, we got about 25 grand baby like we are debt free except for Morgan that would figure out getting take that money and put it into the house repairs are usually find something and keep that as an American thing and look at populated I think they don't have any investment is not our 401(k) that works right now, what percent are you putting in the 401(k)'s temper, Dino Allawi and letting like 3% and every year ago that iatrogenic that they can or 5%. Now at work on native matching.

Now I do it Mikey that will match me and I believe applicant now putting in five there matching on top of that, or that's the total it's going talk of it all right and your husband is doing something similar that's great. Listen, let me just encourage you guys are 30 years old, you're out of debt except for your home, you got six months were the savings and you are systematically putting away toward retirement. It sounds like perhaps even as much is 10%. That's great ultimately love really get up to 15% in terms of where we go from here. Do you have a sense of what the total cost is gonna be on these improvements we don't yet worn anywhere from 10 to 20 grand and then look at what I wallet loadbearing wall or whatever to get back that were thinking it whole thing can cost anywhere from 40 to 50 grand might well yeah yeah yeah are very good. Well, I think the key isn't unless you need to refinance right now and if you did, I'd do it in a very specific way you I think you're probably gonna be better off. You may be spending that down to three months expenses so perhaps use maybe 10 to 12,000 other, but the rest I would get a home equity loan, not a line of credit. We get a fixed interest rate.

Get the money need to make the repairs you need and then try to pay it off as quickly as you can soon as you do, focus on building an emergency fund. Thanks, Jim. We appreciated more moneywise live evidence a joy to have you with us today. I moneywise live that guy over there. The good-looking one.

The guy with all the answers. He's Rob West, I'm Steve Moran I just kind of what I'm doing here is letting you know that the that today's program is recorded, yet were not really here in the studio we had to take time off I think was dental work.

I'm not sure exactly but were prerecorded today. Don't call in floss more often. Rob… Let's go to Northbrook, Illinois. Kim nice to have you with us. Thanks so much and what's on your mind. I learned on about 800 program previously on your program that that explained that and getting it. My question is I know that I think I think it would even time the company I talked to Dan about it, but what about or 401(k)s that you already have like that you have to your work or whatever is a D of faith-based investing on those it is cam but it's a growing segment of the investing universe, and not all 401(k)s have in fact most don't have a growing number do access to the faith-based investment options. What I'm encouraged by is that we are seeing more and more added all the time and so what you want to do is become familiar with the face faith-based investing mutual fund options you mentioned. Invest even time.com and I would certainly check with them.

Many of their funds are in 401(k)s around the country and then perhaps you could go to faith driven investor.calm faith driven investor.com and look for a listing there of all of the different investment options.

Just pulling that out now to make sure I've given you the better the right website, but what you will see there and and and I think it's actually.org and my team look at that, but what you will see there is a listing of all of the mutual funds, ETF's, all of the different options that are available and as you become familiar with those fund families, then you can start looking for those because what's so unique about a 401(k) as you don't have access to the full investing universe.

You only have availability to the options that are inside that particular plan and the administrator chooses the funds that you're going to see. And so it really just depends on your 401(k) so tender that website. Imagine I did confirm its faith driven investor.org and then click on funds and you'll see a list of all the mutual funds the ETF providers.

All of them and then you could compare that list against the various fund families in your 401(k) and see what you have that. Here's the last thing I'll say cam if you don't have any faith-based investment options.

Let the fun family or the custodian of the 401(k) know that you want that. So if it's fidelity call fidelity if it's Vanguard called Vanguard, tell them you're looking for these types of options in their plan and they listen to their customers and perhaps there is not one today, but there will be one added down the road so I does it give you what you looking for on that. Yeah EVENT IDE even tied.yeah and it's the website is invest even tied.com okay great okay thank you Kim got that you can rub how vital, how important do you think it is for the Christian to be sure that he or she knows exactly where their money is going and I mean do we take all of her money out of all of our stocks that don't represent themselves as Christian companies, you know, Steve.

I've said for a long time and then really believe this. This is a conviction issue. You know it's it's you go to Romans 14 you will see it says let each one. Be fully convinced in his own mind or her own mind and the ideas that there's commands. And then there's convictions and there certain things that I think fall into a conscience category. I think this is one of them so I think the first thing we all need to do is develop our own convictions about our investments. Do we feel like we have a conviction around avoiding companies that use their profits with things that don't align with our values do we have a conviction that we only want to invest in things that make a social or kingdom impact as we establish those convictions that we want to look for investment options that match thank you that you're listening to moneywise live with Rob West. Today's broadcast is prerecorded, so we won't be taking any calls but we have some calls lined up in some great information coming your way, but I think you'll find usable at the very very least, this is moneywise live I'm Steve Moore will be right back.

Understand and establish God's plan for your financial life money. We love to hear from you accept today's edition of the program is recorded. We had to take a little bit of time off so we lined up all these calls in advance. We hope you'll sit back and enjoy what you're about to hear. I trust that some of the information we at we get into today will be something that you might be facing as well and I nonetheless were glad you're out there.

Let's open up the lines here Rob is St. Helena, South Carolina and Charlie what's on your mind.

Hi you all iconic) we kind I write my previous employer about going on three years and I left my retirement, South Carolina retirement, no foot there year after I was still getting interest on it but that I will not getting any kind of interest to my question is should I let it remain volatile, Inc. and IRA a lot a lot and trying to decide what I need to do. I like big bear if I sit and I'm not getting any more interest so let's really appreciate that you like rolling these out to an IRA.

If you have a retirement plan with the company that you separated from yell, especially if it's not doing anything on the performance side because you have more control over it. You're not limited to, the investment options inside the plan, you basically have access to any investment option at your disposal. So I would in fact you open an IRA.

Do you have a broker or another investment account outside of retirement accounts at work that you already have that happen to me bare minimum damper told, I think they can up a little bit but I think I got the gist of the question.

So you do have an IRA with a little bit in it. So if you do have a traditional IRA, which is where you want to put this, it's not a taxable event want to surrender and request the rollover paperwork you give them the name and the account number of the custodian where your IRA is the liquidate any investments that you have the mail the check you will be deposited and then you have to decide how you want to invest. If you have an investment advisor, you'll be all set. If you need some help with that.

Her friends it sound mind investing.org could be a great resource to find some good high-quality mutual funds. Charlie, thank you very much were glad you got in today oh Melbourne Beach, Florida. Denise help me with the Denise is at Donnie's. I want to say it correctly. Donnie's well beautiful name and how can we help you recently purchased Allied home comfortable.

What what I paid on the content owner but you really trying to sell that and I think it the rear that we divided pride into two payments. 40 for the content.

57 for the home and make those payments and now time to transfer the title and I felt convicted like I'm not paying enough tax on the home you I was there an appraisal done Denise know I had a man like that don't don't waste your money expiring it for 2015. Hardly anybody had lived in the home sat empty. The majority of the time in the park. Well, I think there's something to this in the sense that if you have a real good check in your spirit, the red flag just there's attention there that you know feel with regard to being able to do the right thing and in the honor the Lord in this transaction, then I think you should give that your attention and make sure in fact that this was done properly so one option will be given appraisal. Yes, it would cost you little bit. A second option would be to get what's called a broker's price opinion, which is where a real estate broker will give you up there professional opinion on what the value was based on comparables and other real assessments of the value of the property and that you know could give you a lot more peace of mind to know if in fact it was done properly and what taxes owed. Once you get that information, I go visit with a godly tax preparer who has some experience. If you don't have one, you could connect with a certified kingdom advisor there in Melbourne. In either one in the text area or ask for a referral. But I think equipped with either the appraisal or the broker's price opinion and a godly tax professional.

You can sort this out. Decide exactly how much needs to be paid because obviously you want to do this in a way that is aboveboard and with integrity and so I wouldn't go take this person's counsel just to let it go with.

There's something there in your spirit that you need to look into this further that I would absolutely look into that. If you have any reason to believe that perhaps the way it was broken down wasn't proper but armed with those two pieces of information you should build to get to the bottom of this.

Denise, thank you very much. We wish you the very best with the when your new home. We appreciate your phone call today. Thanks erotic we have time for an email. This one comes to us from Terry. He says will my kids have to pay my student loans when I die, that's a great question if their federal loan so typically they will be discharged due to the death of the borrower or of the student on which you know the plus loan was taken out. So again, if it's a federal loan.

Your state will generally not have to pay those back the survivors just applied for a death discharge to cancel that.

If it's a parent plus loan, it may be discharged. Get the student dies or if both parents with a parent plus loan, assuming that both took out the loan pass away than that's grounds also for a death discharge. So now the death of only one parent if it's taken on both names does not cancel plus loan so yeah generally speaking to Terry. Your kids would not have to pay that they would just as the errors on behalf of the estate. They would have to apply for the death discharge and that that should be canceled okay Terry were happy to hear from you today. If you have a question to ask Robin you want to keep it brief and you want don't want to be on the air than the address to use is questions@moneywise.org questions@moneywise.orgi before we go to a break Rob if you don't mind, I exegete this verse for us. For where your treasure is, there will your heart be also exegete that for us.

What's it's it's a key idea Steve when it comes to managing money because beyond the central idea that God owns it all. Which is the biggest one because that changes everything and I mean that I'm a steward, and God is the owner which means I need to check with the master on how I should use his money and by the way, 2300 verses later in the Bible.

You've got all the information you need about how to do that the next big idea is what you just said and that is all saved in my words your heart follows your money your heart follows your money. So as you spend money. Guess what your hearts going to go there. That's why your Larry Burket used to say show me your checkbook and I'll tell you, what's important to you because the way we allocate our money reveals where we've placed our value and ultimately where we placed our trust. So I think that should cause all of us to say. Does the story my money tells about what's most important to me. Does that reinforce what actually most important, and if not, maybe I need to make some changes. Ask about right.

We have to make a couple of changes. Push a couple of buttons but will be back with more moneywise line. Never places punch you with us today. It's moneywise live except were not really live or prerecorded. Today we have calls all lined up in advance, though, and I think you'll find them interesting and so we hope you'll stick around for the next well a few minutes anyway moneywise live with your host Rob went around West time Steve Moore. Let's begin by going up to Swayze, Indiana Lloyd, thank you for your patience or what's on your mind.

Well, I've been teaching for 45 years. I'm ready to retire a couple more and over the course of the last 10 years we had well over $100,000 of medical expenses. Well using the plan of a little and take that payment get into the next one and little myself on, we've got it down to about $13,000. Well now yeah well it's it's been a long haul, but we're in now. We also have in our savings thanks to the fact that I'm 67. Social Security has assisted us in the fact that now we have about 13,000 saved up so my question is do I take that 13,000 and medical bills and go ahead and do that. The house is paid off on the cars are paid off. Now I've got that what you know you guys recommend as an emergency fund setback radio.

But then, I still got 13,000 medical bills not grant, they are not doing interest on them, but they are out there and their payments of hello hundred and $50 a month. I figure maybe to have three nursing out of it paid off. But I'm seeking advice so all here's yeah great lights appreciate that background and congratulations for the diligence you've exercised here in getting this hundred thousand plus dollars worth of medical debt down to 13,000. You've obviously been doing some hard work limiting your lifestyle.

Staying focused and I love that you use the snowball method lining up the bills most the largest and then going right down the line pay and something to each and you're right. Often times, medical providers will arrange payment plans and most often they are interest-free.

The key they did is they just want to know your you're going to set up something that fits in your budget and once you agree to it directly to make the payments every month and if you do that. Usually they'll hang onto it.

That all turned over to collection. No bad mark on your credit report and no interest being charged, which is a blessing because also often they don't get that money paid back. And so they're happy if you're going to do it, especially the way you've done it now is enticing as it is to say, I want to be done with this once and for all. I'm hesitant for you to eradicate your emergency savings get out.

Would you if this is how many months worth of expenses is 13,000 for you.

I was five and six okay so you know if you want to did may take half of it. Let's say in an you take a chunk of these and knock them down even further.

I'd be comfortable that I wouldn't comfortable it is just me taken the whole thing because there is no interest.

You've demonstrated you're willing to pay these off. You're on track to pay them off in 2 to 3 years and maybe if you take half of it one to two years. But if something comes out of left field and just like you weren't probably expecting this medical debt in the first place.

Something else could pop up.

You know then all of a sudden were having to go to credit cards that do have interest to not only that big interest so I think from that standpoint, I'd still be patient, be diligent, be systematic. Perhaps knock these down a bit but but not all the way in full as much as I would like for you to do that.

Does that make sense after credit cards only been able to pay off every month so we don't have any credit card that, and just the fact that as a teacher I was talking to my financial you want to retire you know that your 417 assignment retirement fund your finder do that if you want so that is why the temptation is there and I only ogres for things you never get a teacher you don't live in a microwave or a prince could never clean it you don't get the contract because he never read it. They justified by 26 days you don't have money to invest because it don't know how and you don't give a diuretic is a just-in-time, but do you give them an Apple will happily day thing. Yeah yeah sure. Yeah, like you've taught us all something today and all kidding aside, you guys are a wonderful example of what can be done with God's grace and help and you know your disciplining your commitment and we wish you the very best as you move forward and were glad you called today. Thank you, thank you very much. This should feel though half have to remember that with a chef field, Ohio hi Darrell what's on your heart today sir. I enjoyed called remarks to it that you protect my cough.

I my out? I like no date rental property with with note capital gain. And I'll try to should I go ahead with that money toward the mine home that I'm living it now that what it's now but I'm looking to buy a card or should I hold off on putting it money down and buy the car yet.

When you see by the cars of these collectibles are you just replacing the cars that are essential that at the end of their useful life that some little bit more about what it is you're buying I am buying a car currently dry but that car and it near the NM buying a car or what I see.

All right, well you know if you have a car that needs to be replaced, or a couple of them.

You than using the money to purchase a new to you Karim, if it's a used car makes a lot of sense. Just because can be a higher interest rate and we want to get that consumer debt paid off would, if at all possible.

Don't want to borrow for depreciating assets, and if that would be the alternative that you have to go out and borrow. I'd I'd rather use it there if it's not an immediate need that something you could wait then obviously you could, assuming you have everything else is on track you're giving you got your emergency fund, you put money away for the long haul and then you got this extra money on top of that, so priority order is in line then you could go and pay off that mortgage as long as you could pay it off in full, then that would give you the opportunity to recap those a re-capture those mortgage payments you were sending the mortgage company and suck those away to build up the car fund and do it that way but I think you know if it's something that's a more pressing need for you or your wife or both of you.

I probably encourage you to go ahead and put that money toward those set car purchases and and see if you can do it without borrowing anything for those depreciating assets that make sense. There is yet yet my? To try to refinance my house and buy the card with equity that I have in the house. Yeah, I see. Yeah, I'd rather you not rather keep that equity going in the other direction.

And you know you've got the proceeds from this rental properties you sent non-cash and so I think that's perhaps the opportunity to go ahead and buy those cars with cash. Now if it makes sense to refinance because you can lower the rate by at least point you stay in this home for a while, you shop it around and you don't increase the term, you still may want to refinance, but I'd rather not do you have secure that to card debt to your house if you need to borrow for the cars. I would just get a car loan as opposed to extending out in another 15 or 20 years.

So I think for me it really comes down to either delay the car purchases and pay off the mortgage and then save using the car payment or go ahead and pay off the gun by the cars are right with cash and then stay on your current plan to pay off the mortgage and when you have excess funds going added to the principal.

Thank you, Darrell. We appreciate that call Orlando Florida ETA.

We just have a few minutes left. Can we try to be a brief about this sort have glycoprotein relating my I own the mortgage is about 16 more left on the mortgage and I have my 14 years to pay it out so the whole I will add to refinance the house catch some of the equity on the house because the house needs some work to be done with that being a good idea to do what you have right now I'm comfortable with that.

You know, assuming you can better your position here, meaning you got 13 years left so I wouldn't do anything longer than a 15 year mortgage and assuming you can save at least a point on the interest rate that it makes sense to refinance and while you're doing it you already get it have the cost of the refinance if you got some needed home improvements that are going to prove the value of the home for you to ultimately sell some day this is gonna be the most the out cost-effective access to funds that you could possibly have. Because rates are so low right now and you're not borrowing the Guild use it on your lifestyle you're borrowing it to improve the property, which is a good thing. So I like that idea and and I think that would be an appropriate use of those funds again. Assuming you shop around to get a good rate and that you can really improve your situation, both in term and interest rate and without any were going have to say goodbye because were right up against the end of the program today will were glad you called and we wish you the very very best Rob anything else they had before we put a bow on it in Ketchikan know well here is what I would just say you don't you're thinking about upgrading your home. I would just be really thoughtful about what you're doing you don't automatically assume just because the homes appreciated in value and because we got this equity, staring us in the face that we need to tap into it. Remember the long-term goal is to get out of debt completely, including that mortgage but if you're doing the right kinds of things. Especially if you're planning to sell in the next couple years.

Check with a professional to make sure it's the types of improvements that you actually can get your money back out of many times they won't have. It's just for enjoyment. You can cover it.

Then you go for it but just don't automatically assume the tap that equity moneywise live as a partnership between Moody radio and moneywise media for Rob last time Steve Moore thanks for this