Discover Your Giving Passions

Listener told me a funny story the other day.

He had bought one of those fancy new exercise bikes and for him.

It was without a doubt a very special tool to help them get healthier. The problem was three days went by and then for and he'd yet to use the bike and then on night five.

He sitting at the kitchen table and he looks down at himself, and he couldn't help but just laughed because there he was wearing the exercise T-shirt that came with the bike and he was eating to corndogs.

Hi, it's Doug Hastings with Moody radio and I think we'd all agree having a special tool only matters if we use it to our benefit and I love you guys to learn about my friends at United faith mortgage a very unique faith focused mortgage team with an advantageous tool just for you to see United faith mortgages and arm of a bigger company who is a direct lender, which means they get to use their own money and make their own decisions is no middleman and often this advantage allows them to get you a better rate on your refinance or your new home purchase can save you monthly and lifelong money. So I encourage you check them out.

United faith mortgage United faith mortgage is a DBA of United mortgage Corp. 25 Millville Park Rd., Millville, NY. Licensed mortgage banker for 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. In Matthew 621 Jesus says where your treasure is, there your heart will be also leaves us with the decision to make where we put our treasure fibroblast Christians are to be generous towards God's kingdom but deciding exactly where and how to do that can be a challenge to McDonald with the National Christian foundation joins us today to talk about how we can do that, then it's all your calls at 800-525-7000. That's 800-525-7000. This is moneywise live where God's word guides our financial decisions to McDonald as VP of in CF's Southwest office in Phoenix.

The office is new, but Tim is that he has many years experience helping God's people create giving strategies in a way that allows them to not only maximize their resources but also to discover their giving passions and that's what I want to talk about today Tim, great to have you with us on the program.

Thanks, Rob. Great to be with you Tim.

I don't want to assume that everyone is familiar with in CF. The National Christian foundation. So I like to ask you to start today by giving us an overview and perhaps just a bit of the details on how it works be happy to rob them in CF. As you well know, was founded by mutual friends. Ron blue Larry Burket and Terry Parker and they had a passion to share with folks how to give strategically and effectively through the course of their Christian walk.

And so in CF as an organization we been around for about 40 years and we have about 30 offices around the country and our passion is to serve givers within those communities on a local level and you know that many people have a financial strategy that but they don't necessarily have a giving strategy. Many times there like what is that so we get the opportunity to come alongside them and help them create a giving strategy so that they can be wise stewards of all they have, but then experience a greater joy of generosity and so that's what we have a great opportunity to do well.

It's a phenomenal organization and if you want to give wisely and give to the maximum of your ability. I would say in CF is a vital tool in your tool belt and folks like to McDonald and others literally all over the country and these local offices and nationally can walk alongside and serve you in that so be sure to check out in CF giving.com.

Well, Tim, as you know of folks understand that there to tied to their local church first.

But beyond that, they often need clarity about where to get that's my experience that they may even have ongoing requests or commitments with a variety of causes.

Do you hear this concern a lot that we hear that concerned just about every single day and folks just wondering what's how to do giving well. Often times, feeling scattered and needing some help creating some clarity in what they're doing because not just what they're doing but God has entrusted them to do and many times they don't know where to get it and so we have an opportunity to come alongside and help them find out what their passions are and find what those passions mean to them, their spouse, their family and to help set up a strategy that would best suit what they're doing and how God is called them to do that as we were thinking about some things to share today the quote from Henry black could be just stood out to me was been resonating on this for the last little while and he said we don't choose what we will do for God. He invites us to join him where he wants to involve us and then suggest that just as spectacular part our understanding of how God calls us into his story and is speaking of stories and we just share one with you. I give her that we've come alongside, introduced via certified kingdom advisor and who we've worked with for decades and that they were talking through.

She is recently a widow and so they were talking through what her passions are and how to go about figuring those out as she looks through to the next half of her life and were hers. Giving is good and continue to go and so I look forward to sharing more about that. I can't wait said here that's where the rubber meets the road and where so many of our listeners are today wanting to know how do they unlock their giving opportunities aligned with the passions will talk about that when we returned to McDonald VP of CSU Southwest office with us today to witness much more for joining us today on moneywise live with us for this segment to McDonald VP of in CF's new Southwest office National Christian foundation is an underwriter and a key partner of ours at moneywise and that Tim just before the break you were talking about this idea of really aligning our passions with her giving and that such a foundational thought. What's the first step you take when you are talking to folks about their giving passions.

So we have a tool on our website that folks can download and utilize just about every day and that has to do with their causes and their passions award is talking about. You can find inner website in CF giving.com/causes and on that PDF are a number of grantmaking causes that you can use your giving fund to grant to, and we will take the time to sit down with our clients and talk through what passions do they have anti-slavery is her passion for church planting may be arts and theater humanities.

Is there an addiction issue or a passion to help those with addiction. Many, many causes that people can walk through talk through understand what resonates with their heart, and then jot those down. Keep top keep track of those that not just resonate, but you have given resources to in the past and by the term resources I don't just mean money but also your time and your talent or your skill set and then what other similarities are there with any other causes and then we sort of put that in the pot and start having it boiled down and as we have it boiling down, we break out where this aligns with your heart, what brings you most joy and most importantly where you feel God is drawing you in.

And I've gone through this exercise a number of times and the place where I find that I really want to focus my energy is where God is drawing me in my wife and I have walked through this passions exercise and as we refine where we feel God is drawing us in. We do feel that sense of greater generosity. There is a joy that enters our giving and we are just were excited to do that and see that come alive in folks as they many times, then have a freedom to say no because each one of us is getting asked to gift all sorts of organizations that are doing some great work, but unfortunately because we haven't created that strategy.

We feel like we have to say yes to everybody well with this with this strategy it will allow you the opportunity to say no and no that you are doing what God called you to do it. I think strategy is the key word there, you know, Tim, we have a strategy for our investing.

We take hates attention and time to make sure were investing in the right places when it comes to putting God's money to work in stocks and bonds and real estate but are we giving that same level of the tension and intentionality to our giving, and I would say for most of us the answer is no, and I think that's why this is such a great example of how the work of in CF can assist givers and being much more intentional in this resource.

You mentioned it in CF giving.com/causes can unlock that because for so many of us we've really not thought about it at that level. But having a tool like this can perhaps open her eyes to causes that break our heart that perhaps we've never really given that much thought to it. Has that been your experience as you walked alongside people yes so well said that's not only been our experience as he walked alongside people.

We've also experience that ourselves and lady and I have just had an opportunity to walk through this passions exercise yet again.

Just a couple weeks ago and being that there was two or three causes that really, we both felt God was calling us to participate in, but neither had given our time or energy or talent to previously. And so our circumstances have changed and so because of that we are seeing some doors open to serve elsewhere and and I mean Sir, with time answered with our resources from her giving fund until yes we've had a great opportunity doing that needs for me it's incredibly personal.

As you walk through this exercise we respect how personal that is this very open time for conversation and an opening up of our hearts to each other and to our Savior was such an important point and I love that this is so practical. Tim, after walking through that exercise any other things that you would share about the impact this has on givers and the organizations they give to absolutely rub one of the great things that we have the opportunity to do is once our clients get a understanding of what this clearly looks like we suggest that they write down their big dreams.

What would this look like for them if they were to be able to accomplish what they feel God's putting on the heart and I spiked shared a little bit of a story earlier about a a window we were working with who had been introduced to a philanthropic advisor and in the conversation. Her great dream was to find some work with the great with one of her great passions, but not certain on the organization or to what level she could go about doing so. In the dream was. It should be able to do some some form of building and an ongoing program. While that was a big dream to her because she felt it was.

Not possible. After talking with you advisor them doing the research.

It set now become clear that that is in fact an opportunity for her to see God work through every step of that way and then for her to bring in the remaining of her family, her grandchildren and others. In this conversation and into the experience has just been a joy to watch and CF were here to guide you along that I generosity journey and we just love doing so well and I know you think it's really critical that you meet with somebody personally.

A lot of that's being done on Zoom these days.

But why is that so important actually have an advisor walk with you.

I believe giving passionately, very often is done in a local community if it is not done on a one-off kind of scenario and where we want passions to ignite and align with others. We want to help foster that community locally and that's what our 30 offices do around the country and if you're not within a local proximity of one of those offices. Feel free to reach out to our national office which is located native Lena and we are happy to connect you with someone who can come alongside and help you talk through your passion and help clarify what you're getting. Strategy may look like Tim are about out of time today I want to finish by giving you an opportunity to talk about what I think is one of the most powerful giving tools.

There is, and that's an in CF giving fund of who is that for, and how is it useful yeah Rob I've heard you explain this previously.

It's like your charitable bank account. That's what giving fund is and what's it for is for funding organizations that you have a passion for that we've talked about and who can utilize that anyone can, with no minimum balance. We are so excited to serve a broad base of the community. Very generally covered a lot of ground. Tim, it's been a delight to talk to you today. Thanks for stopping by my pleasure of thinking. To learn more. You can visit in CF giving.com/causes to download the PDF to mention order generosity libraries in CF giving.com/library are your calls her next here's the number 800-525-7000.

This is moneywise live for God's word informs every financial decision will be right back and delighted you joined us today for moneywise live on Rob Weston just mother will be taking your calls and questions. Here's the number 800-525-7000 800-525-7000. It's a holiday weekend, which means that you should be able get right through. Today we call we have a plenty of lines open and will look forward to hearing from you that you and that the previous segment were talking with Tim McDonald of the National Christian foundation. I really want to encourage you to know if you want to be more intentional, more thoughtful and even more effective in your giving is a steward of God's resources in CF, the National Christian foundation is an indispensable resource. Whether it's opening the giving fund to use as a tool for your giving to give anonymously or just to have all of your gifts come out of one account so you just get one tax receipt at the end of the year or because it can hold other assets of just the there so many benefits to using a donor advised fund. What in CF calls a giving fund that I really would love for you to check it out. Secondly, all your giving strategy.

As Tim said somebody to come alongside you, help you uncover your passions not only the how much of giving, but the where and I really help you align your passions with your giving dollars and then finally I think one of the other huge opportunities within CF is complex. Gaps non-cash giving they can help you with all kinds of planning and tools and gift planning attorneys that can handle everything, promote initiated stock gifts to real estate to business interest in you name it. There is some really tax efficient strategies that get incredible resources into God's kingdom of through generosity and in CF can help you take advantage of that. So I checked them out today in CF giving.com on the web and I know you'll be glad you did. I before we take our phone calls and we just mentioned again. We have some lines open will be diving into your calls in just a moment. Here's the number 800-525-7000 800-525-7000. Let's quickly take an email. This comes from Riley and Pat and other in Arkansas. They rode into questions@moneywise.org and just said is it time for us to move out of stocks and by gold and I appreciate that question. You know this was talked about, much more, perhaps in the last six months that even today just because we've seen some of the uncertainties related to the pandemic, work their way through the system. We see the economy reopening, but there still a lot of talk about gold, particularly because of inflation. And so, typically in order to preserve power is as easy purchasing power you would buy gold as an inflation hedge. Biggest problem with gold is you don't wanted to go up in value because it probably means everything else is going down your gold and hard assets have a place in a portfolio. Riley and Pat but you know from my perspective, they shouldn't be the driver of our investments. It should be the last investment because you should have other priorities and I would generally look to this to the precious metals to be 5% of your portfolio.

Certainly no more than 10% of your it tends to be more video attractive to investors when there is a considerably high fear factor out there but you know I don't like it because it doesn't produce any income while you hold it the longest term performance is lower than stocks and the volatility is higher in just about every time.

You look at, so I really would see it as a place in your portfolio, but certainly not the driving dominant position, so take that for what it's worth, I would pray through it, certainly, but I would not overweight in the precious metals that's just me and we appreciate your questioning if you want to send us an email and have it read on the air to send it over questions@moneywise.org our organist are taking your phone calls here in just a moment will be in Holland, Michigan but were to begin in Elgin with John. How can I help user hi thank you for your ministry. July going I'm going to pay all my credit card which I have and my question is like that.

My interest rate in this credit card is 29% and my question is which.

What would be the top three companies you'd recommend to get a good credit card in terms of no annual fee. In terms of interest rate in terms of getting money back and get any positive characteristics.

Yes, that's a great question, John and yeah I love the fact that you're paying off this credit card I would make sure that your living on a balanced budget, meaning you've really taken a deep dive into your expenses on a monthly basis so you understand where the money is going, not just the things you get a bill for. But what I'll call the discretionary expenses that you know tend to build up over time without us realizing it. And those nonrecurring expenses that perhaps don't come every month but having that to reduce the paper or better yet, you know, in the palm of your hand through the moneywise app would be a great way to just dial in your spending.

And then you need a system to control the flow of money in and out whether that's just tracking or use the tried-and-true envelope system but that's gonna be the key to you not getting back into debt because of you're going to use credit cards. Moving forward, and you've been in a place where you been paying high interest. I would prefer you just cut it up and use a debit card before I get a like to see you go back into debt. But if you feel like you've resolved whatever got you into that place in your budget balances and you got some margin. Clearly you do because you're paying this off in full that I think as long as you can handle it responsibly is nothing wrong with using a credit card in my opinion when it comes to choosing the car. John, I heard a couple of key things that I really like number one is you said no fees and absolutely these days is no reason be paying any fees you mentioned a low interest rate and in almost credit cards go there all high interest stemming some are better than others, but the bottom line is it were only using it for budgeted items. It doesn't really matter of you with the interest rate is but yet we should be checking that out.

And then there's the rewards and I think you've got a decide you know now that the economy's opening back up if your travel you'd like to be able to travel more. Are you looking for travel rewards are you looking for cash back I'll mention one credit card and then I'll mention two websites.

The credit card that I use now is the fidelity cash rewards to percent back on everything that they deposited to a Fidelity brokerage account.

I have it put into our kids.

529 2% on everything is very uncommon not just to certain categories, but check out nerve wallet.com and credit cards.com is there constantly updating their list of the best credit comments. We appreciate your call will be right back. Thanks for joining us on moneywise live on Rob last wanted to have you along with us today as we head into a holiday weekend. Perhaps you're headed out of town. Or maybe just staying close to home and get a pull out the grill.

Whatever it is were glad you decided to spend some time with us today were taking your calls and questions on anything financial.

This is where we apply God's wisdom to your financial decisions today, whether it's saving or giving lifestyle.

Perhaps it's paying down some debt whatever's on your mind today we'd love to hear from you. We have some lines open and I'll be staying after for a few minutes today to take some additional calls with plenty of availability for you. Here's the number 800-525-7000. That's 800-525-7000. Let's go to Youngstown, Ohio Lynn, thank you for your call today. How can I help you I am part of a group and partnership warily owned the building and I'll sell it at a real estate company and you have penetrated down and then refinancing it and said that loan money and lately get some of that so that even though the debt now is that money considered on a note an increase in at least the kind I'm not yet. So help me understand exactly what's happening. So you own piece of property is a part of the groups is multiple owners your refinancing the property in your pulling some cash out as a part of that. Okay.

And then there's gonna be a distribution of that on a pro rata basis to each person okay and is it I mean I think the only issue there is because it's dead.

It's really not an increase because it has to be paid back in my missing something there.

I paid back by a separate company that okay right so you have income so you know the way I would look at it is the other property is an asset. It has is obviously value assets associated with a market value, and then you've got debt on the property and that's gonna rise and fall based on you know whether you paid it down or in this case your increasing the debt by cashing out but in either case, there's debt service involved really the income that's coming into the business for the group is to maintain the property service the debt marketed him all of the things that go into it and then there should be distributions that come out in the form of income over time to the investors and then upon the sale. Obviously you'd have you know any profits would be in a coming back to you on a pro rata basis as well. So I think you should be looking at really two pieces, is there the distributions are income coming into you as an owner on an annual basis, or some period of time that you want to evaluate it because it's cash flowing beyond what it takes to run the property that's clearly your increase and then I think when there's a sale. Anything that is the profit of the amount which you get back. That's above what you put into it initially obviously would be your profit and that's also your increase, I think, really, those are the two key pieces you're looking for. As you evaluate okay. I want to be giving on this, but I don't want to give it necessary can out give God. So you can give as much as you want but if you're trying to give based on the increase. You would want to give off of something that isn't truly increase because essentially it's it's either working capital for the business or you know it's it's debt that it was good have to be paid back. So I'd be focusing on the profit in the income or the distributions as the number that you're looking for in your CPA perhaps could even help you calculate that each year, or some period of time that you want to evaluate it so I hope that's helpful to you. I appreciate your generosity and your desire to be found faithful and giving to the Lord.

We appreciate your call today as well. Helen said to Indianapolis, Indiana Melody, thank you for calling today.

How can I help you 20 think I am wanting to get here like H Mart 3.75 right now I want to get my credit in their pocket that I I like it get you .5 x 2 point he interest rate. However, the closing can't look like it could cut okay and how much was the value of the mortgage today and I I will and it taking out when I got 20 you know I hate okay all right well you're going to have to look at that just because what they're showing online may not be available. With that size mortgage, you're kinda right there on the edge. A lot of times in cheek when you get below 75,000 certainly below 50,000, which it really is your you're not there.

Your higher than that they don't like to give you the best terms or in some cases they may not even refinance it. Just because the balance is too low, so the starting point is just to compare what you're seeing, as well as perhaps I go to bank rate.com and look at a few other lenders I get three bids to see based on your credit score.

The equity that you have the income you can verify but also the balance of the mortgage. What rates are they going to offer you and what fee you mention about $1800 which should be about 3%.

I'd like for you to be around 2% which would be more like $1200 now, you're probably good have to pay a little bit more if you do this just because the size of the mortgage being smaller, it tends to push it up a little bit, but I'd say summer between 12 and 1500 max. The key would be Melody.

I love the idea that you're going to shorten the term. I think that the 15 years great as long as it fits into the budget and if you can save at least a point on the interest rate and you're playing this planning to stay in his home for at least 5 to 7 years then then this'll make some sense if you can really get that rate and we can get those fees down a little bit. I'd say less than $1500 and in your gonna stay put.

Does that make sense at all wrong. More like 20 or more charges at the clerk's to think about that mortgage really get that deal with it only being without you really need to check on that going 15 year with these real interest rates. There's a good chance you could in fact get the point of reduction, which should be dinner 275 but shop around, see what you can do any lenders you check within a two-week period is considered one inquiries for your credit scores concern. So I check with at least three of the do it all within the two week period and then I think you have the information you need to make your decision.

We appreciate your call today while we've covered some ground here today. We still have a lot more to cover. We've got some phone lines open and as I mentioned I'm to be staying around today for a little bit extra time just to answer many questions as I can. So if you have a question we'd love to hear from you today.

Here's the number 800-525-7000. That's 800-525-7000 just take a moment and mention our money wise coaches. These are men and women who have been especially trained to provide as a ministry to you assistance with the building spending plan. Understanding God's principles of managing money, even looking at your dad, and answering any specific questions you have Bill walk with you for six weeks or more in is no cost other than a small charge workbook use to guide our time together.

If you'd like to take advantage of that ministry website moneywise live.org click connect to come after were delighted to have you along with us today and moneywise live biblical wisdom for your financial journey around West and discipline decided to tune in today we got lines full sort of take as many calls as we get. Let's go right back to the phone, Chicago, Illinois. Kim, thank you for going today.

What's on your mind money and killing 18 years ago when a bad my brother and I I want to get money right now. Take care of that and we had no idea what I wanted about chart out in 139 okay you don't already do we know if this is a qualified annuity meaning it's on a pretax basis or nonqualified you know I have no clue and we are waiting for a call back on the program that were not getting that eat yet I can share how it what sure sure well this is a life insurance contract. It's based on your mom's life. Meaning, you know there's an insurance component to it and then there was money that she put in is either a lump sum or she paid in overtime. Perhaps you still paying and and so it's accumulated about the death benefit as well as a cash value that can be pulled out. The question is based on whether it's qualified pretax or nonqualified. The other may be some tax due on a portion all or a portion of this as it comes out. And so what you're likely going to do is just find out what the surrender value is so that you all could take the money out of the annuities and then divided on a pro rata basis based on the share that each of you is entitled to the another option you could look at would be you can. The owner of the contract can be changed, not the annuitant, so your mom is the annuitant. Her life is still the life that would trigger the benefits and determine the amount put in new owner can start receiving the payments you know it is a monthly annuitization which is just a monthly payout, or change beneficiaries or even cash out the policy, or she could do that and then just give you the money but as it sounds like she wants just to get it transferred over to you so you become the owner or owners and that you all would then decide how you want to proceed. The key is your gonna need to get a lot more information because these are complex or there's typically a you know a good bit of fees associated with you pulling the money out so you just need to make sure what you giving up by pulling it out versus leaving it there. You're also going to want to know about the tax implications of that doesn't catch you by surprise, and these contracts are complex and not always easy to understand so I think starting with the broker getting as much information as you can. Based on what your mom has told you as to what he feels like is the next steps assuming you guys want to just cash the money out and then I would take that it and run it by a CPA recount. Just make sure you fully understand what the tax consequences are of what you're talking about here, so sounds like this is gonna be a real blessing to you and I like the fact that you're seeking some wise counsel to get some assistance here. In addition to talking to the broker Kim you know which he or she may not have a whole lot of incentive to your follow-up with you about things not to do a good job but this person is probably already receive the compensation they are going to receive so not really benefit personally to them. You are providing you excellent service even though they still may, but I reason I mention that is you may also want to seek out your own investment or financial professional to just evaluate this policy.

Look over what's there and help you make a decision because if you do take the money out and you've got your hundred thousand dollars. You may want to have somebody invest that for you as well and that individual could handle that. So I encourage you to head to our website to for a second opinion on evaluating what you have here and just search for a CK a there's a bunch of them certify kingdom advisors there in Chicago in any of them would be happy to walk alongside you in this process. We appreciate your call to Indiana Joshua, thank you for calling Sir how can help you yeah love the show Michael a couple weeks ago you had talked about Social Security basis. Start run out of money. I'm 32-year-old guy I've been investing the full matching amount. I think 6% with the company I currently work for for the last seven years and then I have some other savings and investments. Is there anything that I might stage in life should be doing differently knowing that that's coming you know well when you say you know it's it's coming.

Specifically, changes to Social Security. Yeah yeah no I don't think so.

And keep in mind Social Security was only intended to cover 40% of your retirement income even at its outset, I realized you know it's got some problems, and when we say that will were talking about is the latest data says that the the trust fund will run out by 2035, does that mean the benefits go away. No, it just means that if changes are made in changes are to be made up between now and then but if changes are made.

Just based on the the receipts coming in every year and the amount the needs be paid out benefits only about 75% of benefits would be able to be paid because they wouldn't be able to pull additional funds from the trust fund to pay hundred percent so would mean a reduction but I think you know this is a pretty important political football if you will that there is going to have to be addressed because it's so significant to our our country. So I think it will be but I think the bottom line is is just a good reminder that you need to be doing your part in it sounds like you are. I think you know if you set a goal to get up to 10 to 15% of your take-home pay going into a retirement account, then you know that set your you're doing your part there and then I be focused on living well within your means reducing debt over time so that when you enter retirement your debt free, which means your lifestyles as low as it can possibly be. And if you're doing all of that that I think you know you're putting yourself in a position to be able to continue to fund your lifestyle and that season of life. Does that make sense so yet appreciate it.

Okay appreciate your call. Joshua Lord bless you and have a great Fourth of July on to Spokane, Washington Brenda, thank you for your call.

How can help you now and are implementing a new long-term care tax and start in November and if we don't have our own before then they automatically enroll less time wondering if we should go ahead and get on. I'm only 50 my husband HQ and I concurred that we lean. You know could wait until you know 59 or something. I don't know what that age. Yeah, the typical for most folks, between 55 and 65 that is going to be there where you get the most effective rate because prior to that prior to 55 in a year to be paying for it for longer than you need to do and that's can erode. What's this can add up over time you can end up spending more and then beyond that. 65. It just tends to get really expensive. You know, I have heard some things about what's going on in Washington state related to long-term care and give some of these changes are coming in November, but I have to tell you I am not a fully versed on it.

So let's do this.

I'd like to get up to speed with a bit more about what's going on out there before I weigh in on that. So I'll ask our team to to look into that and and will do an opening topic on it or at least address it in a future broadcast.

I just don't know enough about what's the changes that are coming to be able to weigh in.

But I would say I'm a fan of it. You know when you reach age 65. The data says 70% of Americans 65 and older will need long-term care, typically for around two years and it's expensive depending on what type of care you need. It could be eight 9000 a month so it's something that could erode your assets in a hurry so if you can afford it. Buying a policy at the right time in that window between 55 and 65 with a daily benefit that matches you know what your need is, or at least offsets the potential cost of it with cement. An inflation rider that increases that over time and you know you have to address what's called the waiting. How long before it kicks in. You know there's a whole host of issues that you'll need to look at but if you can afford and it fits into your budget. I think it's it's well worth the cost. I think the key Brenda in this I think would be important, especially that there in Washington is defined and life insurance gives me long-term care insurance agent who specializes in that area can answer all of your questions tell you which companies are most committed to the space based on your health can tell you which companies can price it most effectively and help you find the right policy for you. If one makes sense and it's certainly not for everyone, so I would find a long-term care insurance agent and look into it further, and I will do some digging as well and some of those changes that are coming down the pike that I know are happening but again we just don't have all the details and I appreciate your call today very very much quickly to Fort Lauderdale. Tim, I got just about 60 seconds, I can help you in showing a nearby think about all the people that hear your voice.

My quick question that I got about 10,000 in savings and investment and on my got at 728 to 30 credit score based on credit, do you think it be wise to start looking at buying a house over the next year you think I should just keep saving and try to have more of a down payment. Yeah, I do is that 10,000.

The extent of your savings. It would that be consider your emergency fund as well.

Yes or yeah yeah I would hold off for a couple reasons. Number one is I'd like for you to have at least three months expenses in a liquid savings account that is not going to be used for that down payment just is there so that if the unexpected comes, you got something to fall back on. You don't have to look to credit cards.

If you put that into a home.

It's now illiquid and you don't have any reserves so I want you to get that to three months worth of expenses and then let's start saving for that house, and I'd like for you to target 20%. So, I realize it's probably gonna take a while but that's okay I don't want you to get a position where you're buying too early, especially Tim with housing prices the way they are in Fort Lauderdale. They are sky high right now so I think waiting for the market to cool off a bit better inventory appreciate your call today.

Folks moneywise live is a partnership between Moody radio and moneywise media thank you to Deb Solomon Rios Eric Tidwell Jim Henry and thank you for being here. Hope you have a great Fourth of July weekend and then come back and join us next week I'll be here will fully publish