Biblical Honesty

One listener that stands out that work with recently. Was this older couple that was interested in refinancing eight reached out to a few different lenders in the other credit wasn't the best. I know some of these other bigger banks.

You just won't hear back from that which I cannot stand not everybody has the 780 credit scores and never had any hardships in their life. I'll walk you through what you have to do.

How can you end up being able to do this refinance.

Whether it's 236 months from now back that older couple. We work with them for months and months to improve their credit and we were able to get the loan done. We were saving them hundreds each month thousands of dollars a year.

Finally got themselves into a situation financially that they can handle and they could start saving money each month, saving for retirement at the end of the day they just could not be happier. Which just put a huge smile on my face. We might one listener that stands out, that I work with recently.

Was this older couple that was interested in refinancing the other credit wasn't the best. Not everybody has the 780 credit scores and never had any hardships in their life. I'll walk you through what you have to do. How can you end up being able to do this refinance. Whether it's 236 months from now. We work with them for months and months to improve their credit and we were able to get the loan done. We were saving them hundreds each month thousands of dollars a year and they can start saving money each month, saving for retirement, which just put a huge smile on my face. We like. It's not a faith mortgage is a DBA of United mortgage Corp. 25 Millville Park Rd., Melville, NY. Licensed mortgage banker for licensing information, go to an MLS consumer access.org corporate and MLS number 1330.

Equal housing lender not licensed in Alaska, Hawaii, Georgia, Massachusetts, North Dakota, South Dakota and Utah, and today's version of moneywise live this prerecorded store phone lines are not open.

They say that honesty is the best policy for the Christian live really is the only policy in the Bible doesn't really give a suggestion or guideline God's word commences people to be honest Rob Western if there is a place where were tempted to be dishonest to fudge the truth a bit in our favor. Lives with money all talk about the case for financial honesty first today that we have some great calls lined up but please don't call in today because we are pre-recorded. This is money was life like a wisdom for your financial decisions so the Bible is filled with directions for living the Christian but not all of them made it into the 10 Commandments Exodus 2016 reads. You shall not give false testimony against your neighbor.

That's a very broad commandment, it doesn't apply only to legal proceedings or even finances. For that matter. It means we are never to be dishonest anywhere at any time. Neighbor doesn't imply the people who live next door. It means anyone and everyone who isn't. You know, I know what you're thinking. What about Exodus 1 where the Israelites midwives deceived Pharaoh to protect infants and Joshua to where Rahab lies to save the Israelite spies wire those cases, seemingly acceptable to God. Well, those were times where two conflicting moral imperatives collided head-on, telling the truth and saving lives because we are made in the image of God's saving human life obviously wins out and that's with the midwives, and Rahab did, but it's not likely any of us will ever be in that situation. So back to why honesty is so important for the rest of us. It's important for us because it's fundamentally important to God. He is completely and utterly holy and cannot abide sin of any kind, including dishonesty. God is truth.

Jesus says in John 14 six I am the way and the truth and the life. No one comes to the father except through me. Compare that to Satan, who Jesus describes in John 844 as a liar and the father of lies. The world is watching to see which side were on. We are image bearers of God. So we must always be scrupulously honest now. If we're talking about financial honesty today. You might consider why we are not focusing on another commandment, thou shalt not steal. It's no coincidence that thou shalt not steal comes right before thou shalt not lie. My guess is there's a reason for that. There LinkedIn expand on each other. It's difficult to do one without doing the other when it comes to finances, their two sides of the same coin.

How can you steal without first being dishonest. How can you be dishonest with money and not be stealing from someone now one of the things we say a lot of this program is that money isn't important to God. If that's true, have you wondered why not stealing. It was important enough to make it into the 10 Commandments 12 God already owns everything, so no money isn't important to him.

But honesty is because he is honest, always truthful and always keeping his promises in Luke 16, the parable of the dishonest manager, Jesus says, one who is faithful in a very little is also faithful and much and one who is dishonest and very little is also dishonest in much. Jesus is talking about money there, and more specifically he's teaching that how we manage it is a measure of our character.

We talked a lot about honesty. But what about dishonesty and the consequences of it.

Obviously, standing before the judgment seat someday to answer for lying is the most unsettling consequence but there could be other more immediate consequences we take a risk when, where, dishonest with money we could lose God's blessing in our affairs and that doesn't have to involve money to consider Romans 12 to most of us are familiar with the first part of that verse. Do not be conformed to this world but be transformed by the renewal of your mind, but we often miss the second part, that by testing you may discern what is the will of God, what is good and acceptable and perfect. The whole verse implies that there is a blessing in doing God's will.

A key part of which is to be honest in all of our dealings, financial and otherwise not a financial blessing necessarily and often something even better. For example, one blessing you receive by handling money honestly is that you reduce your stress level, even if it costs you money. You have peace of mind in knowing that your pleasing God, the one who gives you everything. Well, there you have the case for biblical honesty at all times and all places, including your finances.

It's going to have you with us on moneywise live today but unfortunately today were not live prerecorded and therefore won't be taking your calls. However, we've lined up some calls in advance that we think you'll find helpful. So stay tuned and enjoy the rest of the program back to moneywise lab or we apply God's truth to your financial life. Today's broadcasters prerecorded our team is taking some time off, so don't call him but we have some wonderful callers 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 part. It will allow years. Why would allow it. We $2500 security directly on 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 there were any or so all you want I don't think so. 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 up 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 going to 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 three or 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 happening our 401(k) pretty secure and my thinking taking some of the 401(k) out and investing in either gold or silver. Is that a good move. 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 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, doesn'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 of. 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. Go ahead.

Thank you for 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 ridiculous but with anti-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 am 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 but I am taking out student loan and for this semester I will have something left out of that 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 said I did leave that money there and start saving from that money to buy from that money.

I see what additional expenses related to the education you're seeking. There you can need to borrow additional money for future years.)

Looking. I will have to give 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, but we can have to pause here stand why we'll talk a bit more off the air. This is moneywise life for joining us will be right back. Back to moneywise. I am Rob West. This is where God's word intersects with your financial life. So glad to have you along with us today.

Our team is taking some time off today. This program is pre-recorded, so don't call in today. Wait till we 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 and 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 like 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 and they penalized me $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 there 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 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 when I start return okay and so yes that's down the road. Yeah, I mean the only thing that I'm looking at is no word would 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 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 a 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 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 to last you know indefinitely. You'd only turn that into hundred and 73. It tells me that that 400 a month even though you perhaps it's a little bit frustrating to you to think that's not every growing over time. That still would 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. 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 needed him 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 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 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 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 law the moneywise live on Rob last the day off today so don't call land. 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 go read call comfortable 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 Hadley used it as an emergency fund. We are wondering whether or not because Stockton and money that would be available to ethnic hate me that we could conduct pull out quickly ship me take that class sitting there as our emergency fund and pay down thinking a lot 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, meaning money left over at the end of the month. After all the expenses are paid well yeah okay I probably at least a thousand to 2000 and amount after I be retiring in about four months, we have already started 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 and if there's any more that HELOC will 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 will be okay. We have four separate annuity will kick in, and finally both have IRA Rob 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 only pay it 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 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 on our 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 here 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 then 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. Does that make sense okay Christine God bless you and thanks for your call today. Let's head to the Quad cities, Illinois. Welcome Michelle to the broadcaster. Next up on moneywise live in.

I wanted might not live there thinking you know that many I don't know savings account and think it's hardly doing anything. I don't really know what to give it about $600 a month so it built quickly. Sure, sure. Yeah, you know, I think the only issue here. Michelle is just the 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 going to be the case, hopefully not. But let's say were heading into a recession in 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 there we could have a couple year. Where were in a recession 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 you're 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 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. I feel this is a listener supported broadcast which is simply means we can't do what we do without your partnership. What is your role, 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 and the app what you can do it quickly and easily and safely when you head over to moneywise will I.org 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. I word God's word intersects with today's financial decisions will be right back to moneywise lives of great calls coming out to talk about how to maximize your online savings whether or not you should money that's invested in the stock market real estate market will even talk about how to minimize capital gains on the sale of 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 in the request to have my main where we live now so I just covered that at a rental property for capital gains are pretty huge is not the same as when you live it when it's your primary home. I am told well that I have to pay 25% on the depreciation that I've taken over the years which 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 think.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 and then 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 your there is gonna 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 gonna be at 15%.

So the other is gonna 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 at 1031 exchange. But that would mean you'd want to find a replacement property. To put this money into our you can 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 a like property so that replacement property would also have to be an investment property not your domicile okay can address it.

That got me kicking out around all day because this this sale is a lot 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. What 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 essentially that the game would be rolled over into this new property 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 and 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 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 sale of the 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 about the market and economy, and so we were considering home and renting it out and we have a we are in our early working part time that we like company in our neighborhood that actually will manage that type of situation so that we are not getting into some areas that were not spending more time doing that and we want to yes we can probably buy a house on the market is looking for a small but hundred 50, $275,000 home to probably get us anywhere thousand to 1500 or so, 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 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 kind of a global economic meltdown that was triggered by a 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 a 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 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 rest in fixed income bonds, government, corporate bonds, things like that, managed by a professional in the idea would be that you hold on to the principal you'd 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 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. I in online thinking, you had better interest rate and I write it down 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% of interest with no fees and that's the beautiful part. There's not 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. They all have great websites of absence well so hopefully that helps you.

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 – Jim Henry, I want to tell you that moneywise is a partnership between moneywise media radio and we hope you come back and join us again next I will be here applying God's word to your financial position fiddler but