400 Years of Thanksgiving

Today's version moneywise. Life is short. Phone lines are not at first Thessalonians 518. We give thanks in all circumstances, for this is the will of God in Christ Jesus by Rob West. Wishing you a joyous Thanksgiving. It's a special one as Americans mark for centuries of thanking God for his provision of talk about that first then we have some great questions lined up for you so please hold your calls as were prerecorded today. This is moneywise live biblical wisdom for your financial journey, so it wasn't 16 was ago this month that the Puritans of Plymouth colony in Massachusetts celebrated the first Thanksgiving in the verse we quoted about giving thanks to God in all circumstances may well have been on the minds of those souls as they struggled to practice their faith freely and make a life in the howling wilderness of North America William Bradford governor of Plymouth plantation would later write of the first year in America. All great and honorable actions are accompanied with great difficulties in both must be enterprise Dan overcome with answerable courage. The Puritans had intended to get to the New World early in summer and time to put in something of a crop and build houses before the onset of winter, but their voyage was delayed when one of their ships. The Speedwell proved on seaworthy had to turn back and load her passengers and supplies aboard the day and very cramped Mayflower, then the crossing itself was much rougher and took longer than expected.

They didn't arrive in the New World until November. Planning was impossible in a harsh winter delayed the building of the first houses until late January. All of that resulted in what became known as the starting time for the Plymouth colony 102 Puritans and crossed over on the Mayflower. Nearly half of their number died that first winter due to disease and starvation. 22 men survived along with 25 teenagers and children, but only for married women live to see the first spring in the New World.

William Bradford would later write of it, it pleased God to visit us then with death daily, and with so general a disease that the living were scarce able to bury the dead, but spring finally came, and those who did survive Ted establish good relations with the Native Americans who help them plant crops that eventually became a fair harvest in the fall. That brings us to the first Thanksgiving. When the Puritans were moved to celebrate and praise God for their survival. Now we've all seen artists renditions of what that looked like with a great many Puritans in a few Native Americans joining in the feast, but that's not how it was so many Puritans had died that they were actually outnumbered at the feast to the one by Native Americans, about 90 of them were at the first Thanksgiving.

It's a good thing they brought five deer and other gaming foods to the feast.

It's a little funny to think that the first Thanksgiving was potluck, joyful, as the feast was William Bradford didn't forget those who perish the previous winter then to mark the event. He used a passage from Hebrews 11. All these were still living by faith when they died they did not receive the things promised, they only saw them from a distance admitting they were foreigners and strangers on earth. They were longing for a better country, a heavenly one. Therefore God is not ashamed to be called their God, for he had prepared a city for them. Many have forgotten the reason the Puritans had dared to venture into the harsh New World in the first place. Religious freedom persecuted for their faith. In England they fled to Holland first but English authorities even pursued them their leading many to undertake the perilous voyage to America and since they landed hundreds of miles further north than their charter permitted.

The Puritans felt they must draft some form of government for the colony, which became known as the Mayflower compact in it. We read this, having undertaken for the glory of God and advancement of the Christian faith in honor of our king and country.

A voyage to plant the first colony in the northern parts of Virginia do by these presents, solemnly and mutually in the presence of God and of one another. Covenant and combine ourselves together. Bradford would later write of those times. Thus, out of small beginnings, greater things have been produced by his hand that made all things of nothing and gives being to all things that are.

And as one small candle may light a thousand, so the light here kindled, have shown unto many and 400 years later we Christians in America still give thanks to God for his provision. We hope your day is as blessed as the first Thanksgiving. Holter calls were prerecorded. Today we have some great questions coming up on Rob West and this is moneywise live biblical wisdom for your financial journey stay with us. Thanks for joining us today moneywise live from last year host for our team is taking some time off today. We're not in the studio, so don't call him but got some questions we lined up and said to Canton, Ohio hi Landon, thank you for your patience can help take my call. I have a question about student loans.

I have a total of about $26,000 in student loan divided by 81 with the same provider bonds are range between about 2000 and $5000 with different interest rate between about two and 4 1/2%.

Now I have about $13,000 not like to pay off the loans with and I'm also kinda looking to refinance the loan. There are about 5000 or 5%. I know I can get that down below, but left and not my question is should I pay $13,000 pre-peanut finance three refinance site or after the light refinance. Yes, Landon. Are these federal loans are private. Both the federal okay yeah in the only downside to refinancing them with private loans is your gonna lose some of the flexibility in the repayment options so you know you've got to income-based repayment options in various provisions in these federal loans if you got into a real tight spot financially would allow you to eliminate or reduce the amount that you're paying in temporarily until you could get back on track and as soon as you go with a private loan on the refi you're giving up a lot of those flexible benefits that come with the federal loans. So if you were to stay in the federal loan program. When I would do is going pay off the ones that you are able to with the 13,000 and then do a direct consolidation loan with the rest, which is just a still federal loan.

It's not can improve your interest rate is just to give you an interest rate equivalent to the aggregate rate you were paying across whatever loans are still in place and it's gonna protect those flexible repayment plans and even the forgiveness programs if you qualify for those at some point, but it's not can improve your interest rate situation. If you were though to say I'm okay giving up the flexibility that comes with the federal loan program. I'm just really concerned about the total interest I'm paying will then you absolutely could consider looking at private loans, but I would pay off whatever loans your gonna pay off first because that's then a smaller amount that you have to qualify for based on your income and your credit score in terms of qualifying for the very best rates and terms on those new private loans does all that makes sense and if so, give me whatever questions you have.

If the debt they think it would be better to stick with the federal loan even try to do that that no bollard avalanche method with other direct loan with that same federal yeah I do the direct consolidation loan just to simplify things. He got one payment and I would pay off the ones that you're able to. Prior to doing that and then you moving forward. You would still have the same interest rate that you protect these flexible repayment options.

Yeah, thank you very much okay Landon, bless you and we appreciate your call today. All the best in getting these paid off. Let's head to Plainfield, Illinois hi Edwin, how can I help you hello how are you very well, thanks okay I have a quick I got to get 13 and nine and I wanted it and starting saving fighting saving for damn you know I got like maybe a thousand for each lot that I wanted to give it Hendon ending demonic to them so they can go into the bank in saving and so they can eat all the profit and my question is if you have the better idea what bank can I go to art and the other option you I think the key that Edwin is first of all, what type of account and that's good to come down to whether you want them to automatically get the money in terms of them controlling it. At the age of majority in their state or do you want to have control over it once they turn let's say 18 if that's the age of majority until you feel like they're ready for it. Talk to me about the control factor.

Well, I want to have some control there after maybe don't know which one it like he saved everything you like to spend the other one is thinking ahead before he got the money working where can you get and you know so this is really key so if you open what's called a custodial account it's automatically can be there money at the age of majority and that they want to buy a sports car they can. The other option would be you keep it in your name but perhaps in two separate accounts earmarked for each of them. You then invest it or put it into a savings account. Whatever you want to do with it and then at the appropriate time. You could distributed to them. Once you feel comfortable that it's not going to. No further any negative lifestyle choices that they're making more you know that they're responsible enough to handle it. You know those types of things you could even use it in a very specific ways of residence of they had student loan debt. You can say I'll match no payments toward the debt to reduce the debt.

You could say I'm a give it to you but it specifically can be used to get you in your first apartment. I mean there's things you could do that promote the right behaviors as opposed to just writing them a check for a large sum that they're not equipped to handle. So I think that's the first thing the second thing is then how does how you want to invest it you wanted to be completely secure and therefore goes into a savings account like you mentioned or do you actually want to invest it. So you begin the compounding effect and you put it in you know to some good high-quality mutual funds and you can see it grow over time.

But you recognize there's risk associated with that as well. Talking about how you want the money to grow.

I would think you get in the bank so they cannot see the bank and how now work but if I can have that grow for them will be great out.

I didn't think about them yet on and all that.

Okay I think that's the key. If you want the money to grow, I'd probably use one of the Robo advisors like betterments or the Schwab intelligent portfolios to put it in a high-quality ETF based fund its low cost. That's can allow this money to grow as the market moves over time, very, highly diversified and you can actually use it as a teaching tool for them as well so I think that's you know that's one option. But again, there's risk.

So if we year or two from now the market center of the economy is in a recession the markets down 20 or 30%. This portfolios can be down with you to have to wait for it to come back, but it gives you the very best possibility of seeing this grow and outpace inflation because right now if you just put in a savings account and you know for instance Allie on credit union has a kid savings account pay little better than 1/2 a percent. Capital one kid savings account would be another option, although those are custodial accounts and I think it sounds like were headed toward a an account that you would have in your name, but in either case savings account would be secure or where is stock market investing has the potential for growth, but it also has the potential for loss as well. So I think you need to think about that you do. I want to keep it in my name. It sounds like the answer that is yes. Am I willing to take some risk with the chance of a better return if the answer to that is yes and I look to one of the Robo advisors betterments Schwab intelligent portfolios. Last thing I would throw out is whether you want to consider a 529 plan to be if you wanted earmarked specifically for retirement. You can visit college savings.com saving for college.com to learn more and then when you have some things to think about my friend call me back with any other question. This is money wisely makes returning it moneywise live a real blaster hose along with us today. This is biblical wisdom for your financial decisions.

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We rely on your financial support bring you this broadcast in all of our ministry offerings every day. We are listener supported and so if you prayerfully consider a gift would be grateful to said to moneywise live.org and click the donate button care team is taking some time off today were not here so don't: but we've got some great questions lined up that I know you'll enjoy will have next to Tampa, Florida hi Barbara, thank you for your patience. How can I help you count okay small $20,000 and years training has gone up and I'm now paying 128 and nine policy and that like picking now I fear sure charts and why you in favor of that. Is there a cash value that's been accumulating with this Barbara, do you know now okay I suspect this is not money. Anybody that is one of your loved ones any of your dependents is counting on his now okay so really there's not a need for this and the purpose for life insurance is to provide for the needs of those dependent upon us. In the event of our untimely death.

And so if someone is counting on the income that were earning more if there will be expenses incurred as a result of our passing or if we have a lifelong dependent to mean those would be reasons to have insurance in its life insurance and it's primarily for your working years yellow and at that point, when you're gone.

If nobody's depending upon you, and you have other assets to take care of things like burial expenses, then this is really unnecessary. It's an expense that you could remove from your budget and redirect that to additional savings or giving or whatever else you might want to do, and clearly it will continue to get more and more expensive because the mortality expenses just simply a function of your age and the life expectancy of the somebody you know who fit your it was a female at your age and so as you age it will get more and more costly and again it's not needed.

So I would completely concur. I think this is an expense you can let go of sure.

Do you have assets that that would cover your burial expenses and funeral, and that type of thing yeah okay so that's the key. If there's other assets there. You couldn't do some preplanning and make some of those decisions in advance to take that stress off your family members during a difficult season but apart from that, I'm not hearing the reason for you to have this policy and I'm sure you could find other purposes for that party. So Barbara, thank you for listening and calling today. May God bless you, but said to Las Cruces New Mexico had hi Elliott, how can I help you yes thank you I have a family trust that I could very few assets into established some 20 years ago when her kids are still around. We are just by ourselves now and I'm wondering if it just better to.

I haven't really spent a lot of effort putting on poison the boxes as the saying goes, and putting things into the trust and money or should I just convert the thing to a simple will. When I got the trust.

I was concerned about inheritance taxes going up, and I don't think that's really happened so I don't have a large estate.

So what you think/I appreciate yes to the question you really is a legal matter mean I would say if there's not any complexities, major real estate holdings.

Any desire to be able to control the inheritance.

You know, based on the timing go if you had dependents that were under age or lifelong dependence or you wanted certain triggering events to get out happened before you assets or card that distributed him in those would be reasons why you'd want the trust and for no protection from a liability standpoint or from estate planning tool, but if if none of those really apply there probably isn't a significant need for it and certainly if the assets are retitled and it it's not good to do you any good anyway so you're going to need to visit with an estate planning attorney to draft that will if you don't Artie have one or if you do to at least updated in review and I think at that time you can talk about whether there's any other benefits you know that you would want to have as a result of having this trust since you've Artie you know, done the work to drafted. The only thing I can think of just based on the limited information I have is if you wanted your estate to pass outside of probate you wanted it to happen anonymously the of things like that would be why you might use a trust, but beyond that, you know, it sounds like a simple will in your situation would probably cover it. But again, it's never a bad idea to get some legal counsel so I would make an appointment with a godly estate planning attorney either draft or update that will have this conversation at that time, but I suspect you find the trust is probably not necessary. Okay, what is the what is the limit for inheritance tax your stuff right now it's over $11 million so you probably not can have any problem there not any problem. Okay. All right. Ellie God bless and we appreciate you calling.

Thanks very much. Well folks, let's quickly take an email before we wrap up for the day off you'd like to send us an email. You can do so@questionsthatmoneywise.org Deb says hi Rob can you explain briefly how it works.

When you trade in your car and you still owe money on it when you're financing another one and I can have this comes down to whether you have positive or negative equity that is is the car worth more than the loan that still exists on it or does it worth less, than the loan that exists if it's worth less than you owe on it. Your upside down and that means you have negative equity at that point I would consider not selling that car. I would try to hang onto it to at least pay it down enough to where you have positive equity so you can then sell it, either through a dealer is a private sale to get rid of it and then at that point you can find your next car so I would hang onto it as long as you can definitely appreciate your email today to pause for a brief break and much more to come in moneywise lives, how should we as Christians think about investing.

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We call this investing that makes the world rejoice. More information is available@investeventide.com. If you're investing for retirement or any other goal you may be wondering if it's possible to enjoy both profit and peace of mind, no matter what's happening in the market. Sound mind investing is a short video webinar on that topic. Sound mind investing.org SMI has helped tens of thousands of Christians learn to be wise and faithful stewards in the area of investing profit and peace of mind matter what's happening in the market. Sound mind investing.org it's been lingering in your mind for the past few months. Is it time to move on for my current job. Maybe you're feeling drawn to ministry. Here's a thought about investing in the mission of Moody Bible Institute in Chicago. Moody is all about teaching students the word of God in preparing them for service, but that mission also involves Moody's sister ministries like broadcasting and publishing help make an impact in ministry at Moody check out all the career opportunities@moodyjobs.org that's Moody jobs.org family that has been together you have a full schedule and calming time to plan containing reportable event overwhelming uncommon family ventures. Randy Southern regional ideas for my memories, connecting spiritually each other's love languages to uncommon family publishers.com buying a home is the largest most nerve-racking purchase. Most of us ever make. It doesn't help that you're entering a maze of unfamiliar words and confusing options that can lead you intimidated frustrated and afraid you been taken advantage of navigating the mortgage amazed by Dale Vermillion help you clear up the confusion on rack your nerves and make the best mortgage decisions possible with confidence navigating the mortgage maze available when you click the start button@moneywiselives.org for a new design ball Agnew in Washington.

The Pres. and First Lady set by the US Coast Guard station Brent point today to meet with US troops for Thanksgiving day and after about an hour inside the station, the Bidens went outside. Agreed about 20 servicemembers in uniform in person wishing them all a happy Thanksgiving. The Macy's Thanksgiving day parade look a little more like its old self today after being cribbed by the coronavirus pandemic restrictions last year. The parade is a ladies US holiday event make something of a comeback amid the ongoing pandemic.

The holidays are one of the busiest times of year for food banks around the country.

Thanksgiving prices been up 14% this year affected in part by that backlog in the supply chain along with storing inflation putting a dent in budget for many working families.

US markets were closed for Thanksgiving holiday. They are set to reopen tomorrow for an abbreviated trading day. This is SRI news. Thanks for joining us in moneywise around West.

Your host is taking some time off today were not in the studio, so don't call in, but we got some great questions lined up so let's have right back to the phones.

Chastity is in Florida just to be how can I help you I'm doing great.

Thanks for your call and I want to hear more about you. I'm here typing very good. You know me just explain you what it is Chastity.

I appreciate you asking because it is a very effective tool for you giving think about it like a charitable checking account. Essentially, you make a gift to the donor advised fund at that point, then you would be able to grant the money out to charities, not for profits ministries including your local church as you wish. With the click of a button up one of the benefits is number one you get the deduction for the amount that goes in at the in the year that you make a contribution to the donor advised fund regardless of when it's distributed.

So that's number one number two to consolidates that you gift receipt and a sense because if you're giving to multiple ministries or charities you're getting all of those gift receipts throughout the year you adjust ads from two more paperwork, but when you make a gift into your donor advised fund you got one contribution receipt that you have use for your tax reporting purposes. At that point. If you would open one at the National Christian foundation where we recommend you just got NCF giving.com you login with a couple of clicks you could give one of the other benefits as you can give anonymously as well. So as you make those gifts out you determine whether or not your name passes with that gift or not. Now feel the objective though in terms of making the gift especially as it relates to your church, but really anytime you're giving to Christian ministry. We want to get that money into the hands of the people doing the ministry so that your local church or a water mission somewhere around the world or somebody meeting needs in your community, whatever it might be you don't want it sitting in an account somewhere you want it being distributed and so I think it specifically for your tithes. I think you'll probably want to just give that directly in the only benefit would be if you want to batch your gifts. So, depending upon whether or not you want to give a larger amount in one particular year, but then you want to be distributed out over time. So for instance you want to make one major gift to your donor advised fund and then set up a monthly immuno distribution if you will to your church that would be one option, but if you're not looking to make a significant gift and it's just a matter of you running it through a donor advised fund to your church and instead of giving it directly. There really would be no benefit to that but I throw out at you here tell me what questions you have any thinking parent and I like many and it may be and so that's where you want to check with your tax preparer just to see you know if whether batching it would help you meet one of the main benefits to that is if you can get up above the standard deduction and therefore you can take the right off on the larger sum of money yelled that would be one reason why you might want to batch a couple years worth of contributions into your donor advised fund you write it off.

All in one calendar year and then you distributed over time, but that would be a question I want to talk to my CPA or account about to make sure there is a benefit and if so, this would be a perfect tool for that one absolutely Chastity, thank you for listening and calling today. Let's head to Clearwater, Florida hi Matt, how can I help you hello show.

Very helpful. Thank you for doing that I appreciate greatly appreciated. My question is what the total vaccine mandate. I'm kind affected by really don't want to take a shot. My job slowly said by this day to be vaccinated so in that regard actually look at potentially retiring on or are just doing other jobs until I can go back out and be an engineer again so the question is, is how much and I know the answer is different for everybody but how much is enough to retire on.

How do I compensate for the increased inflation that's going on. To be able to find out what my number is and is there any basic rules.

Tommy could recommend to somebody and say need this much go forward with it does present the questions that you know the basic rule of thumb that you will often hear is that you know you're going to need 10 to 12 times your current annual income. By the time you retire to offset the difference between your living expenses in retirement and what you might expect to receive from Social Security so Social Security was never intended to cover more than 40% so that the most that's can be 40% of your retirement income need and then the balance of that would be covered as an income stream off of.

Hopefully your savings and so that's where if you have 10 to 12 times your income, your annual salary saved up and then we take 4% of that a year and you should be able to make that up through properly diversified income-based portfolio with some exposure to stocks that the combination of those two annual income coming off of the investments plus Social Security and any other income sources you have, lumped in there, you should cover it. Keep in mind, you know, typically, your expenses would run you somewhere around 80% of what your pre-retirement monthly need was just because you're now no longer saving for retirement so when the kids are off the payroll and probably not paying for life insurance premiums and there's lots of the expenses that would come off the table and so often times, while big one would typically be your debt free now so hopefully you're not paying a mortgage any longer.

Those types of things all of the net result of that means you need less, but I think that would be a rule of thumb. Now there are some wonderful calculators out there that would help you back into that with a more customized approach to your needs. The out so you could input some of those numbers and there's a number of five great ones out there. If you just google your retirement calculators look at some of the reviews to see which ones are the most favored. I think you know that would be a great tool but just a quick rule of thumb would be that 10 to 12 times your income is ad hoc, about 50 years old.

Most people would have retired from is healthcare.

I have a light on healthcare needs medical benefits. She sent a lifelong illness what people do for healthcare when you're essentially self-employed are yes sent with the best route yeah you know the couple of options. One is you go out on the open market and just buy health insurance policy until you're able to be covered by Medicare and can be expensive but they are available, and so you would want to find an independent agent you could go out and shop that for you. Another option to look at. That's increasingly popular as a health cost-sharing ministry specifically for believers.

So I'd encourage you to go check out Christian healthcare ministries@chministries.org they would cover on the goal plan. Any incident above $500 hundred percent of that would be shared by its members. So I would check that out. CH ministries.org. I think that may give him well will be another option to consider alongside traditional healthcare. We appreciate your call and thanks for listening and calling today to pause for a brief break more, moneywise, things are turning into moneywise time around last year hosting your team is off today and enjoying some time away, which means we're not here to answer your call but we got some great questions that we lined up in advance. I know you'll enjoy and learn from. So let's go right back to the phones West Salem, Ohio hi Laura, how can I help you thanks for taking my call had a question on I have a daughter who is engaged in both her and her fiancé are college graduates and she has debt and he had quite a bit of debt and wondering once they get married responsible for his college that if something were to happen to him. No is the general answer me these were taken out in his name only, and that doesn't transfer to the spouse that would only be if there was something joint there. Now, obviously, anything that would be estate assets. You know could be used, to satisfy his debts as a part of the probate process, but those don't automatically become her debt because again they were not taken out jointly. They were taken out in his name alone, you know, the more this does though bring up.

I think a great point that we all need to consider and that is that when were getting married as an engaged couple. We need to tackle as a part of the premarital process the financial area. Perhaps more important than anything else. Just what we from what we know of the statistics on the conflict that money can create and I think that involves talking about how money was handled in each of our families growing up. What are our money personalities and tendencies. Who's the one that's the best one to be the kind of the bookkeeper of the family. What lifestyle are they planning to live in you what the expenses are gonna be coming with that. How does that compare to their job tracking income there to be earning. What about giving me all these things I think need to be talked about. Plus, as you said, what are they bringing into the marriage relationship both in the form of assets and that and how are they can handle that as now one flesh, and I think opening up those lines of communication with transparency growing in their understanding of how to handle money from a your godly perspective is just so key and so I would just really encourage you to encourage them to consider this area and one way we can help with that is if you stay on the line of get your information will send you a copy of Howard Dayton's book money and marriage God's way and if you give that to them as our gift and just asked them to read through that together a chapter at a time. I think it'll perhaps give them a little bit more preparation. So they go in with their eyes wide open. But bottom line is a dish will not become her debt. Although there could be some complicating factors as part of it. As far as is settling his portion of the estate upon his death, and otherwise I think you know that would be the answer that you're looking for. So we appreciate your call today.

Laura may God bless you and let's head to old Larry believe Ohio. It is Elizabeth Karen, Rob, thank you for taking my call went out and I have two young each. My husband's life insurance letters that 50 to 10 for myself, and 50% of my older daughter because he had taken this before my son was gone.

I was just wondering about the 50% that's in my daughter's name, which is currently in that total control account that she has no access to. How can I how can I take care of that money in such a way that both children receive an equal share that yeah that's challenging given that your life insurance proceeds pass according to how the beneficiaries are designated in the policy, which is why we always need to be updating those policies as changes take place and obviously, the birth of a child would affect that and so you know this would be her money just based on how the beneficiary does a beneficiary designation was in place. I think one way to deal with that would be if you wanted to handle the distribution of the rest of your estate in such a way that essentially made him whole. With this portion going to her because it's in an account in her name and that can't be changed but you have control over you know your will and how the rest of your assets are distributed at your death and again you could use that the planning to essentially account for the portion that was given to your daughter that excluded your son did you follow that. Okay, very good, yes ma'am, you're very welcome. Thanks for calling today heading next to Lake Worth, Florida hi Richard, how can I help you got my journey disability and they gave me a back came back 2019 lump sum wondering where all my text bracket that could be a taxable income statement income yeah unfortunately Social Security disability benefits are taxable as regular income. Now most recipients don't end up paying taxes because they typically don't make enough so you'll owe taxes of your total income is more than 25,000 or 32,000. If you're married and filing jointly.

But if you earn income in that range.

You'll only pay tax on about 50% of your benefits. So I think you know what you need to do given that it is in fact taxable and you know this is a change because you're getting this back payment which is going to result in a larger amount being paid out to you. I think the key for you moving forward would be to check with the tax preparer to make sure that you have the accounted for what you owe.

This year, Siegel set that aside because the last thing you'd want would be to it'll have the unexpected amount be owed and you don't know if you learn about it later. And I you got taxes and penalties. So this is the year to check with a professional to run your situation by them and see if there's anything that you owe at this point. Does that make sense and I got my Belzberg collection like low might blow it out. Yes, that would be probable eliminate whatever debt I have, yes I totally agree with that. Richard Dimino is as believers we need to honor our obligations and the fact that you had these hospital bills in collections is that's a debt that you owe and so it's not a matter of you blowing at him and you need to be wise and responsible with what comes your way, but you a part of being responsible and wise is to take care of your past obligations.

Good news is I suspect you settled with the fraction of the portion you know that you originally owed because these were maybe charged often. You know that kind of thing.

But yeah, I think making good on those debts is a is a certainly a good thing it's honorable, biblical, and the key then is moving forward. Now that you've kinda cleaned all this up and you been made whole on the, the disability payments to really put a spending plan in place.

Moving forward that allows you to live within your means even if things are tight and that's good. I mean, you do the hard work to really control your expenses and come up with a workable budget so hope that helps you my friend. Listen, I know you if it sounds like you been through some challenging times, but you perhaps this will give you a fresh start.

As you get this payment and I'm grateful that you called in today to check with us all the best to you in the days ahead. Richard God bless you both folks before we head to the end of the program here let me take a moment and take a few emails because we often hear from folks that right into SBA email and ask for help in their situation and I'd love to be helpful to you.

So I would say we get through a few of these before we round out the program today.

This one just says. First of all, from Karen, what is the name of the site to request credit reports from all three agencies want to make sure everything looks okay. If I find a problem how I go about fixing or correcting the information that is wrong and Karen this is a great question because it's something we all should be doing. We should be looking at our credit reports.

I would say at least quarterly. Because if there's something on there that's not ours.

Somebody's open an account fraudulently in our name they run up some debt not paid it back that's sitting on your credit report. It happens more often you think and the credit report is usually the best way for you to find it is and I can send you a bill so how do you go about that. Well, there's a website called annual credit report.com annual credit report.com that's the place to go get your three credit bureau reports for no cost.

You want to review those and then there will be a procedure for you to dispute any negative information that is inaccurate by law, the credit bureaus have 30 days to verify that it is in fact accurate and if they can't, it has to be deleted. Karen, we appreciate your email today. Mike is written into us and says I heard I've heard you reference the importance of setting a financial finish line. Can you elaborate a bit more on what this is and how I go about it and Mike, I'd be happy to do that, you know, when I talk about a financial finish line when I'm referring to. There is this idea that you note God and trusts to each of us differing amounts right we see that in the parable of the talents and that's not based on our godliness or our commitment to him. It's just part of the way his economy works and we are to be found faithful with what he's entrusted to watch. However, what I sever much or however little, and I think with whatever God has entrusted to us. We need to live within that provision, and we need to live with contentment, but we also should be asking how much is enough because I don't believe we should automatically spend everything that the Lord gives us and so we need to be saying, Lord, what lifestyle have you called me to and I believe this financial finish line includes both your net worth meeting.

How much of my ultimately trying to accumulate not just saving mindlessly and trying to build as big a portfolio as I possibly can for the future. I should have a goal and within that goal I should decide how much is enough because if I'm on track to reach it or I have reached it. I give the rest away and we can also set a finish line for our lifestyle which means our income.

I'd love the idea.

If you would Your income and safe working to spend up to this amount, and anything we are beyond that is given to the Lord. Pray through that ask him what you should do and then said those financial finish lines.

I know folks that's going to do it for us today.

So glad you been along with us today moneywise live is a partnership between Moody radio and moneywise media want to say thank you to my team today. Dad Amy, Jim and Hans want to thank you being for me along with us as well. It's always my privilege to come alongside you and talk to you each day I can do it is.

Next I will you accomplish