Financial Unfaithfulness

This is Doug Hastings, VP of Moody radio and were thankful for support from our listeners, and businesses like United faith mortgage heading into spring. I've been spending a lot of time pondering, analyzing and debating something extremely important to men and even many women and that's whether a new driver would improve my golf game I would see them somewhere between embarrassing and appalling at golf man do I love it and all my buddies show up with these epic/big maverick Bertha drivers and I can't help but feel like they've got this massive advantage on me and my persimmons. It's right that our family mortgage team were proud to have a pretty special advantage ourselves and one that can be a big deal for you. Our team is an arm of the company who is a direct lender, which means our company uses its own money and make its own decisions within its own walls. There's no middleman in this advantage often allows us to get you a better rate, saving monthly and lifelong money on a refinance or new home purchase were much better in mortgages than I am at golf. We are United faith mortgage United faith mortgage is a DBA of United mortgage Corp. 25 Belleville Park Rd., Melville, NY. Licensed mortgage banker 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. Today's version of moneywise live recordings or phone lines are not healing a crippled man and asked to read Peter tells the astonished crowd repaired the turn to God, so that your sins may be wiped away times of refreshing may come from the fibroblasts were blessed to have a God who hears our cries of penitence and welcomes us back into the fold will talk about how that affects our money that we have some great calls lined up but please don't call him today because will please record, it's the memorial day addition of moneywise live where biblical wisdom meets today's financial decision.

So yes, it's memorial were enjoying the day off like most of you probably a but we hope you'll take some time today to reflect on and appreciate the sacrifices made by the fallen heroes of our Armed Forces who gave the last full measure of devotion to ensure the freedoms that we all enjoy today.

One of those freedoms is to earn money accumulate wealth then suspended as we wish, but with that freedom comes responsibility. Where to be faithful stewards of God's resources. All too often we fail in that mission, and we might be tempted to think that God doesn't concern himself with mundane things like money or how we manage it. But nothing could be further from the truth.

As I've said before more than 2300 verses in God's word dealing with money and possessions show that he is keenly interested and as with any other act of unfaithfulness. We must repent those involving our finances that when we do God is eager to refresh us with his blessing. That means we must also never think that our financial sins are too great for God to forgive Christ's sacrifice on the cross pay for all of them.

You can be assured that when you repent of financial unfaithfulness, God will absolutely hear your prayer. You know the life of King David is a great example of the power of repentance that David was not only a great warrior, having killed the giant Goliath and a truly able monarch who brought great prosperity to ancient Israel.

He was also a terrible sinner who committed adultery and even murder by sending your riot to the front lines of what was essentially a suicide mission. All that is in second Samuel 11. So why is David the only figure in the Bible called man after God's own heart. It's because of David's willingness to repent, to acknowledge his sin before God and turn from it.

After being rebuked by the prophet Nathan we see David's earnest desire to repent his sins in Psalm 51, where he writes, have mercy on me, of God, according to your unfailing love, according to your great compassion blot out my transgressions wash away all my iniquity, and cleanse me from my sin, and of course David was forgiven. He's listed in the so-called the hall of faith in Hebrews 11. Like David, we must also repent.

But what should we repent concerning money. Well, here's just a partial list of first we must never forget that God owns everything. We are not the source of our wealth were not even the source of our ability to earn money. All of that comes from God and willing to acknowledge it is the first step toward financial unfaithfulness.

Next we must always act with honesty and integrity in our financial dealings with others because we were witness for Christ. Second Corinthians 8 reads for we aim at what is honorable, not only in the Lord's sight, but also in the sight of man we must also be generous sharing God's bounty with our local church and with those in need. Malachi 38 says will man rob God. Yet you are robbing me but you say how have we robbed you in your tithes and contributions. Next we must live on less than we are failing to do that results in debt, which the Bible doesn't say is a sin, but also never condones that Proverbs 22 seven says it plainly, the borrower is a slave to the lender another active financial unfaithfulness is not saving the Proverbs 2120 precious treasure and oil in a wise man's dwelling, but a foolish man devours it. You see, we must set aside something for immediate unplanned expenses and I believe we should invest long term for the day. We can no longer work and that laziness could be another financial sin if it prevents us from working hard work is not punishment. It was ordained by God. Before the fall of Proverbs 1423 tells us all hard work brings a profit but mere talk leads only to poverty.

Finally, we must never let ourselves be overcome by envy or covetousness in Exodus 20 we find the 10th commandment you shall not covet your neighbor's house. You shall not covet your neighbor's wife, or his male servant, or his female servant, or his ox, or his donkey, or anything that is your neighbor's word to be content with what God has provided.

Never wishing we had others. So if you committed any of these financial sense.

Don't despair God waits patiently for you to repent art. We have some great calls all lined up next. This is the memorial day addition of moneywise back to moneywise live or we apply God's truth to your financial life. Today's broadcast is pre-recorded. Our team is taking some time off, so don't call in, but we have some wonderful colors all lined up that I'm sure you'll be interested in will be talking about renting versus buying will be talking about investing in gold and silver in our political climate today, but first let's head to Indianapolis and talk about Social Security and managing cash flow with Christie. How can we assist you hire art and start trying to impart. It will allow here. Why not before he retires, and that would allow we $2500 security directly on our yeah I like because eventually this comes down to recognizing that this is God's money. You're his manager or steward and you need to prayerfully consider what your priorities are.

What are your values and how can that inform the way you make financial decisions, which means it's not just always a math equation. It's really about.

How can we best honor what we believe the Lord is leading us to do with the money he's given us. And if you all have said, which I totally affirm that we'd like to be completely debt free as soon as possible, and certainly by the time he retires and you taking his Social Security at his full retirement age. Despite the fact that he's going to continue to work allows you to do that than I would say that's wonderful. Now what are you giving up well potentially if you don't need the money you're giving up an increase in that check so you know, it would grow 8% a year until age 70, at which point he could begin then collecting a higher check for the rest of his life but that sounds like would prevent you from accomplishing this other goal which is to be completely debt free, so that if it were me and based on what I'm hearing you say I would set that potential or actual increase of that Social Security aside and go after this amazing goal that you have to be debt free. As you will head into retirement. Enjoy being unencumbered and having a bit more flexibility which is also going to reduce the monthly income need that you have so that as you transition to him no longer working and you will no longer taking a paycheck obviously being debt-free will help with that loss of income. So I'm affirming that but given what I'm saying here Christie any additional thoughts or questions about there were any things that we were so all you want I don't think so. And the only downside is because you don't need the money. Technically, you have the ability to let it continue to grow and then there and that higher benefit check for life.

But even though you're giving that the fact that he's continuing to work if he's earning more now and will between now and age 70. Then he was in the early part of his working years.

Those higher earning years are gonna replace the lower years, probably when he was younger and just starting out, and that in and of itself will result in some increases in the check that you're already receiving as that's factored into the formula so I would say press on them excited for you all just be real prayerful about what the Lord would have for you as you head into that season. You know, even through four years down the road and we appreciate your call today very much. Let's head to a Kenosha, Wisconsin Jeannie, I understand you want to talk about gold and silver. How can we help out with no happening in our 401(k) pretty secure and analyze thinking taking some of the 401(k) out and investing in either gold or silver. Is that a good movie. Very sad. Not you know I wouldn't do that, apart from just a normal allocation which I would say for most folks is only around 5% in precious metals, just not is historically not been the performer that this stock investing has yet selling for around $1800 an ounce today, which is close to where was 40 years ago when you adjusted for inflation. Meanwhile, the S&P 500 is seen an average increase of 11 1/2% year over that time. So obviously the stock market inflation-adjusted is going to do much better. It's also got lower volatility.

The reason folks are now talking about gold buying goal right now is this because it's a store of value and obviously with the volatility that was brought on by the pandemic and then with all the monetary policy and the stimulus and the debt. I realize that a lot of folks say, well at least will have the backing of the precious metal you know if we were to see a debasing of our currency, or we lose the reserve status. I just think even though I think we got some tough choices to make in this country and we are to see more inflation down the road. Probably not as much in the way of stock returns. You know, for the next decade or so just given how far we've come. The last 10 years. I think all those things are real but I still think for the average investor. A properly diversified stock and bond portfolio that's allocated based on your age, goals and objectives is a better long-term play, then gold even given some of the headwinds that were going to face politically and economically in the coming years.

I just don't think the data supports overweighting in the precious metals even where we find yourself because it's really hedge. I realize it's a store of value. But it's a hedge against a falling dollar and you know economic decline and I think long-term. You were to be better off you're going to be better off staying with the stock and bond portfolio. That's just my perspective on it didn't mean it's necessarily the absolute truth, but it's it's at least kind of the approach I would take based on history and you know the difficult things we had to address as a nation going back every decade for the last hundred years. Does that make sense though. Okay, you're welcome. We appreciate your call. If your husband disagrees. Tell him to call back in and we'll talk some more about it. I appreciate you checking in with this Jessica Louisiana you're next on moneywise live go ahead. Thank you for attempting my call. I look how I can about renting or buying a home right now I'm currently renting paying out like $1050 per month for an apartment and I'm 46 years old.

I'm a teacher and have never owned my own home and had so many rock-bottom it ridiculous that went and got timing. I know that a house will be in my future but I can't ask you a question. I'm going back to school even on the teacher and I'm full-time and going back to school to be a chaplain and I don't have it well enough where I can pay that money on my own to go to school and I am taking out student loan and for this semester I will have something left out of that building loan money and it will be enough to pay off my car note and that right now my car note is being financed to the credit union where it comes directly out of my out of my paycheck. Now the college if he isn't a wise idea to go ahead and pay out my car note and just use that money that already been taken out of my account out of my paycheck for my car use that to start saving money for home are should I did leave that money there and start saving from that money to buy a home. From that money. I see what about additional expenses related to the education you're seeking. There you can. The need to borrow additional money for future years.) Looking.

I will have to that could apply for scholarship because right now I'm at a 4.0 thank you that NF company to think about. Okay, very good. I would try to get to the bottom of that before I spend this money on the car. I really buckle down on your budget each month and see if you can pay off that car out of cash flow as opposed to using the student loan debt. Let's use this to continue to fund your education seek and borrow as little as possible and then let's just continue to save up for that home purchase.

We can have to pause here. Stanley will talk a bit more off the air.

This is moneywise live for joining us will be right back. Back to moneywise live on Rob West. This is where God's word intersects with your financial life. So glad to have you along with us today for our team is taking some time off today. This program is pre-recorded, so don't call in today. Wait till were live in the studio but we do have some great calls all lined up ready for you today. I'm sure you'll enjoy them all right. Let's head back to the phones we go next to Ken in pumpernickel Valley Nevada and can I understand pumpernickel Valley. According to my producer here is named after a mountain shaped like a loaf of bread is that right love it. I bet it's beautiful out that part of the country and how can we help you today retirement and when I left the government I can't do nothing with my retirement I can add to it.

I can't take from it might take the whole thing out to penalize be $10,000. So I'd like to know what I should take and do with this money because it's sitting there doing nothing yet and what options will you have when you reach retirement age, you have the option to either take it as a lump sum or turn it into a monthly payout. Is that right there is no lump sum some penalize be $10,000.

Okay, what is that lump sum do you know what that would be today. Right now if I was to take it out. I get 26,030 6000 and her okay and have they told you what that monthly payout is going to be at retirement 400 and some month okay all right you know it. I mean, I would probably how far are you from retirement years old, 50 2C got a while and it is that the 400 and something a month going to grow by some percentage each month of the ad some sort of adjustment to it every month or do you think that's locked in because I can't it's not growing 36,000 okay but I'm wondering if the monthly payout would grow, though, you know.

By the time you start taking it out of there and adjust that for inflation or something else 400 and what I would get when I start return okay and so euros. That's down the road.

Yeah, I mean the only thing that I'm looking at is in a word, we have to factor in whether you think you could grow that 26,000 to a number that would allow you to do much better than that of the let's say let's say you you know you did – okay so let's say it's, you know, it becomes 52,000 in the next 10 years you even then at 4% in the year.

That's 2000 a year that you would pull out in the form of income without touching the principal and even then that's only hundred and $73 a month. Now I realize you know that's you could take more than that, but you be eating into the principal we typically use that 4% number is kind of a rule of thumb. So, given that Juergen beginning 400 a month for the rest of your life when you retire versus you having to take this 20,000 double in 10 years, and even then if you want this money. The last you know indefinitely.

You'd only turn that into hundred and 73. It tells me that that 400 a month even though you know perhaps it's a little bit frustrating to you to think that's not really growing over time that still in a meaningful amount of money in terms of what you know you would have to do with this 26,000 to generate the same 400 a month do you follow so II kinda like the idea of you saying even though I'm not crazy about it. I'm just gonna leave it alone.

I certainly don't want to take a $10,000 hit on the $36,000 balance. Just get a you know know that that's there and when I need it. I'm can have an extra 400 a month to add to my Social Security and whatever else I can you know a mass in retirement savings and I think that's a good thing and that you know that money will last throughout your retirement as long as the Lord Terry's and you're still with us, you know that's gonna be a nice sum of money to supplement your expenses on a monthly basis, so I'd probably leave it be if it were me, okay. All right. Sorry. Very good.

Again, thanks for your call today sir. Hey, before we take our next break. Let's turn our attention to an email. We often hear from listeners who send questions and by the way, we invite you to do that. Here's the email address questions@moneywise.org Christie thanks for your email.

You asked what's the best college savings plan. I know you like 529 plans. How do I know which one is the best for me and that's a great question. You're exactly right. I do like the 529 college savings plan as a vehicle to save for college -related expenses. Here's why you put the money in similar to a Roth IRA.

You don't get the deduction when it goes in, but you do get tax-free growth. They also have a great investment options built-in that are easy to choose from.

Although they do vary by state.

So when it comes to selecting the plan that's right for you. You have to choose which states plan to go into and by the way little secret. It doesn't have to be your state, necessarily, so there's a website that can help you make this decision. It's saving for college.com saving for college.com you go through a quick question and answer process and based on your state and whether there is a tax advantage to you saving in a 529 in-state they'll compare that to the investment results of other states, plans, and give you a recommendation on the plan that's best for so head over there to check it out. To give you a goal on how much you need to say based on your kids ages how much you want to save for college. Plus the recommended plan based on the state makes it again. Saving for college.com and we appreciate your email today. All right looking ahead to a break. We come back more of your questions. This is moneywise lot moneywise live on Rob West. The day off today so don't call Lynn. But here's the good news we got some great calls all lined up and I know you'll enjoy hearing from these folks like Christine down in Florida. Christine, your next up on moneywise live Garuda call comfortable American, set aside regular savings account with no interest. We have a HELOC home equity line that is 4% interest and we do have a balance on that Hatley had used it as an emergency fund. We are wondering whether or not because we have other Stockton and money that would be available to us in the case of an emergency that we could conduct pull out pretty quickly shed me take that cash sitting there as our emergency fund and pay down the HELOC to say that 4% interest are strictly keep cash tell me about your monthly income and expenses and potentially what kind of margin you have on a monthly basis.

Meanings money left over at the end of the month.

After all the expenses are paid well yeah okay all right probably at least 10,000 to 2000, amount after I be retiring in about four months, we have already started to get putting my current paycheck get into savings because we're getting ourselves used to living up to my husband's income, then in about 2 to 3 years will be retiring and will be selling our house than if there's any more and that HELOC will just pay it back in the income from the house. We have a retirement home already and now I'm ready ready to go to move to and how will things look budget wise once you retire would be pretty tight or we still have a little bit of margin each month. I believe will be okay.

We have four separate annuity network that can and and that we should be fine.

We both have IRA rot and I have my night retirement account that might work, excellence, and is the line still open the home equity line or is it closed at this point. Now it open like the bowling pant down and take money out of it and did I understand you to say you have about 47,000 and emergency savings and the balance is about 40. Is that right and the balance in home equity about 60 okay so you'd still have a bit left. Even if you took 100% of those funds out yet that's right okay all right what here's what I might do you know I normally I wouldn't advise pulling this significant amount out of your emergency savings, but based on everything I'm hearing you are are well-established in your disciplines you demonstrate you can live well within your means.

You demonstrated you can save you your putting away a couple thousand a month right now ready to live on a single income and even then you figured out how you can continue to cover all of your bills you got retirement well thought through and you got an open line of credit so because that's the only reason I'm going to give the advice and to give but I would say I'd be comfortable with you going ahead and taking let's say 42 of the 47 paying down that line and then really attacking it every month you with just 5000, and emergency savings because the bottom line is you could obviously pull that money back out at any point if you had to. Even though I'd rather you not, but if you did really had to something just comes out of left field.

It's a major expense you could pull back from the home equity line of credit at any time, and by not having that money sitting there earning 1/2 a percent. You could not be paying 4% right.

And so, given all of the things that are going on in all the pieces you have in place. I think even a little bit emergency or not run back to the home equity line because the water heater break so that's why keep that 5000 or so, but I think going and paying down the bulk of that and taken that in a couple thousand a month and continuing to attack at that and then as soon as it's paid off, let's replenish that emergency fund with the excesses that you have and if you needed it, it's there. You could take another withdrawal doesn't make sense okay Christine God bless you and thanks for your call today. Let's add to the Quad cities, Illinois. Welcome Michelle to the broadcaster.

Next up on moneywise live each. I wanted to wait.

I wait for him. He thinks he now might not live savings account. There I am thinking like you know you're going off to college and that many that I don't know if it meant that in a savings account think it's hardly doing anything. I don't really know what to give it the 19th about $600 a month so it built quickly. Sure, sure. Yeah, you know, I think the only issue here. Michelle is just a time horizon because what I'm hearing you say is you might want him to be able to tap these funds and access them within two years, correct crack and so from that standpoint, it's really not a time horizon. That's consistent with any type of investment in marketable securities because here's the thing you could invest in.

Of the 600 a month and in whatever you already saved up but so I realize you beat what's called dollar cost averaging buying in as the market moves up and down the let's say you know 18 months from now and I have no idea whether this is good to be the case, hopefully not. But let's say were heading into a recession.

Europe keep in mind were 12 years into a bull market and apart from a blip on the radar through the pandemic which it's amazing that's all it was economically speaking for this country as a whole, where you know at the tail end in many cases of what was probably us bull market cycle and so if the economy were to turn over as we see inflation creep up in interest rates start to head up in the market heads down and we could have a couple year. Where were in a recession.

I mean it happens usually every decade or so were well beyond that.

So I think from that standpoint, I'd hate to see you have it invested even though you have the ability to make some more money, but then when he's right at the time or he's wanted to use that your selling it and taking a loss on the investments that you purchased. So from that standpoint, I think you know, I'd probably just leave it be ill in and just try to continue to maximize the highest yield savings accounts you can find with FDIC insurance and just have comfort in the fact that that money is gonna be there when it's time for it to be there and you'll be able to use it for that purpose. But I think anything else is just too risky, given the time horizon this that make sense okay very good.

We appreciate your call today and thank you for listening very very much and mentioned the opportunity you have, to partner with us on moneywise live, you know this is a listener supported broadcast which is simply means we can't do what we do without your partnership.

What is your role will your role is calling and listening. But it's also investing supporting this broadcast on a daily basis because we are in fact listener supported. So if you want to be among the moneywise partners are patrons out there that are supporting and underwriting this work that we have the opportunity to do each day on the air on the web and on social media in the app what you can do it quickly and easily and safely when you head over to moneywise live.org and just click the donate button moneywise live.org and click the donate button to pause for a brief break we come back we have more calls lined up for you to listen to. This is moneywise live where God's word intersects with today's financial decisions will be right back to moneywise live with us to recall spilling over to talk about how to maximize your online savings whether or not you should move money that's invested in the stock market to real estate market will even talk about how to minimize capital gains on the sale of the rental property but we are pre-recorded today. Even though we have these great calls lined up. We are taking some time off today so don't call Lynn but enjoy these calls like this one coming from Tampa Florida. Alicia, you're next on the program. Go ahead. Thank you.

I am about to sell a rental property and had it rented for 16 years. When I got married and request to have my main will be live now so I just discovered that at a rental property to capital gains are pretty huge is not the same as when you live it when it's a primary home. I am told well that I have to pay 25% on the depreciation that I've taken over the years which I've depreciated 36,000 so that will be a $9000 hit on that part of it and then on the remainder of the gain. I would pay the 15% I want to know how to avoid paying so much capital gain. Is there something I can deduct with it being a rental property and then I have another question after that. Yeah, you know, talking to a tax professional would be your best bet here Alicia I'm not a CPA am and we can talk generally about this, but this can get pretty specific pretty quickly in terms of what you might do to increase the basis just based on the improvements you've made over the years and any allowable expenses that could be put against establishing that original cost basis that you can determine the gain by but as you said here there is going to be some tax due on the depreciation there is going to be a long-term capital gain and as you said for you that's can be at 15%. So the other is can be a tax hit there. Let me ask you be one of the more common opportunities to come to kick the can down the road on this capital gains tax would be was called a 1031 exchange. But that would mean you'd want to find a replacement property. To put this money into are you gonna stay in real estate investing.

Are you wanting to redeploy these assets elsewhere that the next question about 1031 exchange. I was wondering if I can exchange the rental property and by the property.

My husband and I live in now, which is a permanent resident know it would need to be alike property so that replacement property would also have to be an investment property not your domicile. Okay, okay. I'm glad transit that got me kicking that around, but they never think of this.

This sale is a lot all I have. So I want to do the right thing. Sure sure know I can certainly understand that. Well, if you are not wanting to redeploy this into another similar investment property and you know there's some that you can be fairly liberal in that, but it does have to be another investment property. Your personal residence which you would want to do is identify that replacement property within 45 days and then I conclude the exchange within 180 days in order to qualify and then essentially that the game would be rolled over into this new property and at some point you have to pay it when you finally sell it and pull it out and no longer redeploy it and rental property but I would talk to your tax preparer just to see what you can do there mean there's not a lot of options if you're not looking to do a 1031 exchange and you're not wanted to do any kind giving out of this where you might give all or a portion of this property to charity and take a deduction out of it prior to the sale that could be done, but if if that's not something you're looking to do this you just wanted to get as much out as you can so that it can be invested in what say you know a conservative stock and bond portfolio that could be there to generate an income for retirement something like that then you know this is going to be taxable.

Good news is it's a fairly low tax rate of 15% lease for the long-term capital gains portion so that's that's good even though I realize you know it adds up on unassailable property you have for a long long time. So I would check with your tax preparer. We appreciate you checking with us today and listening to the program. Let's head to Crossville, Tennessee, Judy, your next how can we help hi market volatility in the economy, and so we were considering. Purchasing a home and renting it out and we have a we are in our early and heaved it working part time that we have a company in our neighborhood is actually will manage that type of situation so that we are not getting into some areas that were not spending more time doing that. We want to say that we can probably buy a house on the market. Hi, now I'm looking for a small bit, but hundred 50, $275,000 home could probably get us anywhere from a thousand to 1500 or so will not. So we're looking at that coming in monthly versus sitting in our stop portfolio right now and a few years ago we asked our CPA about anything, a lot of trouble to have that now that he had a lot of cats who are actually doing that very thing and getting in monthly income and getting their money on the stock market.

Sure sure well you know me in real estate is an asset classes is a great investment.

It is obviously a bit more labor-intensive than your passive type stock and bond portfolio, especially if you hire somebody to manage it for you, but your offsetting some of that by having a management company. Although there is added expense to that and I would do a lot of due diligence on that thousand 1500 a month that they're talking about on 150 $275,000 property that sounds a bit high to me know in terms what you be able to throw off from that. And of course there's no guarantees mean depending on what happens in the stock market in the real is the housing market in the next several years.

Obviously, as you said, you know, the housing market is up significantly and it's not like 2008 2009, during the great recession where we had Canada a global economic meltdown that was triggered by the housing crisis that resulted from subprime loans and inappropriate lending standards. All of that for the most part has been resolved.

In fact, the lenders these days are much more conservative. This is being driven by number of factors.

Low interest rates low inventory nationally. There's not enough houses for the demand, not to mention the fact that the millennial's, the largest generation are now reaching age 30 either married and having kids and thinking about buying a home. This is when they typically do that to her. When people do that and you had to that of the pandemic which caused a lot of people to move to work remote situations with her moving out of you know the big cities in the suburbs and you know from small apartments to a house in a little bit a land where you know the kids can run and play. So all of that has kind of fueled this housing market. I think it's it's certainly high right now, it's your overvalued but I don't think were to see a crash of the global sea is a cooling off of the growth but with that said, it doesn't mean that it's going to be necessarily a simple Judy is what might be presented to you by the rental company just in terms of their ability to keep it rented the maintenance fees that you know any kind of damage that happens any kind of repairs that you be responsible for and then kind of the net result of the return on the money you know if you would sell tell me.

Okay Rob if I had heard hundred 75,000 in this season of life in the stock and bond portfolio. That's very conservatively invested. What should we expect I would tell you you should expect to pull about 4% a year, but that only be about $7000, which is not anywhere near 1500 a month and that's about 600 a month but that would be where you have maybe 30% in stocks.

The Reston fixed income bonds and government, corporate bonds, things like that, managed by a professional in the idea would be that you hold onto the principal you be able to pull some income off of it and if we got into a recession. A couple years down the road you wouldn't touch the stock portion you'd wait for to come back and it always does, at least historically speaking, I wouldn't expect anything different. So I guess the bottom line is I'd say I'd be a little hesitant for you to jump into this because I don't think it's gonna be as simple as lucrative perhaps as it's being described and I would want to talk to a lot of people who are with this management company doing exactly the same thing that they're asking you to do to make sure that those returns are in fact what they're seeing and to know, the other side of it. So I do a little bit more due diligence Judy before you jump at this. Does that make sense Judy, are you still with us.

All right, well hopefully that helps you.

We appreciate you listening and calling today. May the Lord bless you.

Let's go to Orlando Florida calling your next on the program. How can we help you and your many online and online thinking. You better and interest-rate. I write it down when the fire until I can't remember the name yet so I typically get about three and I look at them periodically, by the way, if you want to do your own to do due diligence. I would say that he didn't due diligence Colleen I would go to bank rate.com.

They're constantly updating the best online banks. You could also go to nerd wallet.com my three favorites right now, but all paying around .5%. About 1/2 of 1% and it interest with no fees and that's the beautiful Parthenon any maintenance fees or others not always got you fees are constantly hitting you with the three that I like are Marcus. Marcus.com capital one 360 and I also like Ally Bank Marcus capital one 360 and Ally Bank, the owner great customer service. Like you say, no fees, great interest rates on high-yield savings and they all have great websites of absence well so hopefully that helps you and we appreciate you calling today. Good luck as you go out to connect with online folks, that's good to do it for us today want to say thank you for listening want to say thank you to my team name Jim Henry. I want to tell you that moneywise is a partnership between moneywise media radio and we hope you'll come back and join us again next I will be here applying God's word to your financial position fiddler but