2021-12-9_MWL

And by the greens. But if anyone does not provide for his relatives, especially for members of his household is denied the faith and is worse than an unbeliever by Rob West having life insurance is an important way to provide for your family, but it's easy to think that more is always better today I'll talk about ways you could be overpaying for insurance, but I'll take your calls at 800-525-7000 800-525-7000.

This is moneywise live financial decisions. Okay, let's start with the question, how much do you think a 20 or policy providing $250,000 be covered for 30-year-old should cost per year $500,000. If you guessed, not nearly that much.

Your correct the real cost is about $160 a year, but a recent survey showed that more than half of respondents overestimated the cost, millennial's in particular, nearly half of them thought it would be around $1000 a year. The moral of that story is if you're expecting a high price. You are setting yourself up to overpay and I've got a list of five more ways you could overpay for life insurance without realizing it.

First, if you buy whole life insurance. Instead of buying a simple term policy. This happens when you get caught up in the idea that your policy should have a cash value during your lifetime instead of what it will do for your family when you die whole or permanent life policies build a cash value that you can tap into for certain things while you're still alive, but that's very expensive money. You'll be far ahead if you invest the difference between a whole life and term policy in your retirement account instead of getting snared by a policies cash value.

Think instead about how much insurance you actually need to protect your loved ones and we recommend about 12 to 15 times your annual salary then look for the least expensive term policy that provides that amount. If you die during the policy's term.

Another way that folks often overpay for life insurance is by not paying attention to costly add-ons, but which the industry calls riders true. These can be useful in customizing your policy to fit a specific need. You might have, but they can also be very pricey. Maybe the worst is something called a return of premium rider. If you opt for that one. The insurance provider will give you back all of the premiums you paid when the policy expires well.

Sounds like a great deal right. You might even be tempted to think that the policy is costing nothing. The problem is the single rider could double your premiums, and worse, you don't get the earnings you might have had if you'd invested the difference instead. So you want to stay away from that one. In my opinion another rider to watch out for is accidental death, it raises the benefit if death results from an accident, but the restrictions as to what type of accident and under what circumstances it applies can severely limit its usefulness. If you have to get hit by a meteor it's definitely not worth it out there another way you can overpay for life insurance is when the provider doesn't require you to have a medical exam. Most companies for most policies will require you to get a checkup and have blood work done if the company doesn't require one. You can expect to overpay out, I should point out that sometimes a policy that doesn't require an exam can be a real blessing. For example, if you have a pre-existing condition that might limit your access to a standard policy that these are called guaranteed issue policies. But keep in mind that you almost certainly have higher premiums and less coverage with a guaranteed issue policy start moving on. Another way to overpay for life insurance is if you get something called an annual renewable term policy or art. These can appear very attractive because the premiums start out low. Here's how an art policy works so you're basically guaranteed coverage for the life of the term, but each year you have to renew the policy and of course each year. The amount of your premium goes up as I said. Premiums begin low but gradually increased through the years. It won't happen right away, but at some point you'll be paying more than you would for a standard policy. So again, go with a simple term policy that has level premiums throughout its entire term.

Now the last where you can overpay for life insurance is by procrastinating through your chances of dying at age 30 are far less than it would be at 50 insurance companies know that to and that's why policies get more expensive as you age. If you have dependents who rely on your salary get term life insurance today. Choose a policy that will be in force until your dependents are grown up and on their own. That way you'll have adequate coverage without overpay all right your calls or next. Here's the number 800-525-7000 God, 24, seven, 800-525-7000 nine Rob Weston this is moneywise live biblical wisdom for your financial decisions and take her to the moneywise line around West hostesses was your financial decisions we love to hear from you today just about what will begin taking your calls and questions you can give us a call right now at 800-525-7000. That's 800-525-7000 were to begin today in beautiful Bozeman Montana Bruce, thank you for calling zero can help you come doing real well.

Thanks for your call okay my question. I have a rental property in Bozeman. I can sell it will make 700,000 now loan on that in my house. I put them together is about 280,000. Okay, that rental property brings in about $2600 a month so my question is what sell it and pay off your pay up everything and be totally debt free and open when a greater 280 often enclosed in the capital gains. I think there could be about hundred 60,000 so I'd end up with about 200,000 would be better, which I always thought was to keep out for retirement income but now I still have that data my low 280,000 break down between your primary residence in the rental. Well, I kinda box altogether.

So I what I did is I refinance my rental of the lower interest rate.

Like with all of my house so I mean it's been 10 years so it's kinda a dead eyed it doesn't I don't have the breakdown okay but is it all collateralized by your primary residence or split between the two elements are like I, collateralized by my primary okay so you basically have one first mortgage on your existing home of 280 that that was a result of a refinance of two mortgages. That became one it is you think about her night you get a pretty good as you think about this property.

Bruce talk to me about the amount of work you have to put into the weather that something you enjoy.

When the think that's sustainable.

Are you able to keep up with this well that's the beauty of it and I built my house I do for living. So I pretty much fix everything that I can get witches fortunately are a lot so after-hours that aspect it not that big of a deal yeah okay and what is your plan in retirement.

Do you have retirement accounts, or would you rely on the rental income plus Social Security exclusively while I think right now if you want numbers occurred on probably got 250,000 set aside for that plus the rental plus Social Security have a sense of that will are you still working right now yeah 5554 okay I don't hate you. And are you are you still contributing to a retirement account stock and bond portfolios from from your surplus. The idea but I got out of the stocks. Just because I didn't like him so much smarter thank okay very good but you're going continue to to put that money ways over the next decade that 250,000 will grow to some number higher than that.

Let's say that grows to three or 400,000 you have that plus the rental income plus Social Security and you believe that would be enough to cover your lifestyle would like to say yes but I didn't really research our lightning like it have a God. I will have colleges right now so they'll call it stuff to work on so yeah I would be going into retirement with a pretty good understanding it's it's a decade or more away, Lord willing. But if you can continue to work but I go into that knowing exactly what you need to cover your lifestyle. Each month I think.

Here's the key for me. You know you you have the skill in this area you not relying on others to come in and maintain the property you are doing that yourself just fine. You've got a good stream of income coming in you.

I expect the stock market to be choppy at best. Over the next couple years you've Artie said you've exited the market. So in terms of where you could maximize this capital in terms of the continued appreciation of the property, plus the rental income that you're generating which, all by itself should will between now and retirement allow you to eradicate the rest of this debt.

Hopefully if not get pretty close.

And then at that point you could decide whether you have the energy and the desire to continue to maintain the rental property and let that throw off the income you need in part to fund your lifestyle or whether at that point you want to liquidate it but I don't see a compelling reason to do that now, given that it's cash flowing so well, it's covering the expenses related to the first mortgage on your primary residence and you sound like you are enjoying the very least have the skill set to maintain it moving forward. So, unless there's something else here were you just have a conviction about being free or some other reason. I think I just stay the course with what you're currently doing okay and that really quick I don't think that was my. I really get about 200 little over for that and then I'll probably go back to some kind of real estate, which is harder to do around here now and I would have the debt so it was kind of adapting well and I think that's me not worth glossing over because there's the financial side of this, which is how do you take this asset which is today tied up in real estate and you know could be tied up in a different piece of real estate, but you know without the debt service but you have to buy something in your property prices are high right now so there's the financial side of this. But then there's the nonfinancial site Bruce which I would say is just as important, and that is if you would have greater peace of mind knowing that your completely unencumbered, which means perhaps you have a a bit smaller piece of property without as much cash flow but your debt free. At that point so you get the freedom from being unencumbered in your obviously your expenses are lower now because you have servicing roughly $300,000 loan so you don't it's really going to come down to.

Do you feel like you have a really good piece of property that you want to hang onto.

This can appreciate quicker.

You obviously know its age and condition. Because you owned it for quite a while and then apart from that. Are you comfortable still nope servicing this mortgage from the cash flow or would you just really sleep better at night knowing that that was gone and I think that's really the decision point here, which is more than just you know the housing market and the other real estate economy.

It really has a lot to do, which is kind of where you're at and what the Lord is leading you to do so in light of that what you thinks the right decision for you. A good problem to have. Yes, it is so all the way you put it is good either way. And it's what I feel more comfortable with and and you know what would've led to do so yeah I don't think you can make a wrong decision, or perhaps take the next couple weeks and as things slow down a little bit for the Christmas season asked the Lord to give you some wisdom here and if you feel a real strong conviction to be out of debt that I'd say go for it and let's start looking for that the replacement home that the Lord would bring. But if you feel like nope I like this property you want to hang onto it got good cash flow. You're not violating any principles by the debt you're carrying, because the economic cost is lower than the economic gain and you're not denying God an opportunity to work here and you're not presuming upon the future because you have plenty of collateral. So I think it really just comes down to what you're most comfortable with. At the end the day and as you said, it's a great problem to have, and by the way, I absolutely love Bozeman.

I had a group of friends that that we would take a trip to big sky every year and it was one of my favorite times of the year. Thank you for your call sir. All the best to you and this is moneywise.

I would get lines open. Perhaps once we set up 525-7000 stay with us much, Monica. Thanks for tuning in the moneywise live on my list host offering you biblical advice as you navigate your financial decisions dated think about this as stewards of God's resources.

We are the caretaker of the King of Kings funds. He's entrusted them to us. That's a high calling, and so we want to get that right. We want to be found faithful to good news. Well, there's so many many principles we can take out of his word. In fact, 2350 verses in the Bible. 16 of the parables deal with this topic of money and possessions so that we have God's wisdom and God's heart as a relates to how we should manage your money now. It's not prescriptive. It would actually be helpful if God said where to live on 62 1/2% of whatever comes in the door for her lifestyle. He doesn't tell us that so we have to work that out ourselves. The operative question then becomes Lord, what would you have me to do so. That involves time in prayer to say Lord would lifestyle have you called me to not necessarily how much should I give, how much should I keep so that I can give even more. Perhaps when I flip that question. And as we calculate and determine in prayer. How much is enough for lifestyle as well as net worth, it freezes up to live with joy and freedom and contentment and ultimately to give generously and perhaps far more than you ever imagined. Well, that's what we want to do together each day here on moneywise live we'd love to hear from you and know what's on your heart and your mind today. What questions do you have, financially speaking, give us a call 800-525-7000 got about six lines open 800-525-7000 in just a moment will talk to Jamie in Pembroke Pines and Reggie in Tampa, but next up is Natalie in Chicago, Illinois. W MBI hi Natalie, I hope I'm going to get some clarity in regards to Blount's. I have everything trying to do.

I cut out a mortgage application and understand I had light $80,000 and student loan debt and I thought that it was at 60,000.

However, I'm currently in school and expired and prior to returning back to school highlighted in a income driven program and to pay it back. So recently I received a phone call from a company calling about consolidating my my student loans and I wanted to know if that is a good idea to do the Latin currently in school. I'm about to graduate in May so I just want to know if I should do that or should I just start to get paid down one at a time to get some clarity in the fact you said you were in income driven payment option tells me these are federal loans is that right yes okay all right very good you know I do benefits really come down to number one, it's just easier to manage your debt because with a loan consolidation not a refinance but a federal loan consolidation to basically just simplifies of the repayment by giving you a single loan with just one monthly bill. It can lower your payment but I'm not really terribly excited about that unless you have to.

Because I want to get these paid off as quickly as you can. Youin some cases we can string this out over 30 years or more, and I certainly don't want you to do that if you had any variable rate loans you could switch them to fixed interest rate loans and you still through the federal loan consolidation you preserve those it become based repayment option.

So if you needed that down the road or you are eligible for loan forgiveness. All of that is intact. The downside is what I mentioned, though it can lengthen the repayment.

If you extend the term, it can cause you to lose interest rate discounts or loan cancellation. Their loan cancellation benefits. Depending upon how you do it and if you feel consolidate privately.

Again, you're losing those federal benefits, including the, the income driven repayment so I think the key is you know what can you put into your budget. Moving forward, what can you do to keep your lifestyle at a minimum, to free up as much margin as possible Natalie to accomplish your goals. First and foremost would be let's get an emergency fund in place of at least three months expenses there. Let's start putting some money into retirement account, at least up to a matching portion. If you have that work and then I like really going aggressively after the student loan debt, even if that means sending above the scheduled monthly payment and if you're going to consolidate. I do the federal loan consolidation for all the reasons I mentioned, but I would try not to extend the term as a part of that order. If you do make your paste what it's going to take to get it paid off in at least the time.

You have now if not sooner. And a lot of that just can be driven by the income that you have moving forward is that all makes sense, though I know there's a lot of information there and I think tank so that I do have. I'm working on the e-marketing fine and I also have a four-line case. I am working at back.

It is slowly but surely I'm putting things in place and, just wanted to be able to get to. Also under control so that is sketch a little longer than what HQ said.

I thank you I federal income, federal consolidation I need to make sure that I don't extend the terms and I have adjustable interest rates.

I need to make them think the night that your neck that's exactly right.

And if you do extend the term. Just make sure you don't go with the scheduled monthly payments go with one higher. This can allow you to pay it off in at least term that you have today but it will simplify things that could give you the fixed rate that you're looking for and you know you're only going to have one bill so you just keep doing what you're doing. Sounds like you're making some great decisions understand the wine I want to send your copy of Howard Dean's book your money counts. I think that'll help you as you're getting started here to know God's way of handling money. Perhaps over the next couple weeks and take some time to read through and pray through it. Make sure that tell you making decisions. The lineup of Scripture, but certainly sounds like a priest: this is moneywise live biblical wisdom for your financial decision that slides open 800-525-7000. By the way, if you're part of the moneywise community like to support your ministry with listener supported online moneywise live.org just click the don't think things are to hit a moneywise live check out our website recently moneywise live.org when you create that will allow you moneywise community where coaches are answering your questions all throughout the day with thousands of posts and there was some great dialogue going on and it will automatically sign up for our weekly wisdom email which the latest installment went out today with our trending articles and podcasts note for me and some encouragement in your journey as a steward of God's money again just had to moneywise live.org and create a free account and that will get you connected to the moneywise community are back to your phone calls 800-525-7000 Reggie.

I understand your thinking about solar for your house. You got a couple quotes you. I get contact and also considered electric car and of the possibility of being able to run the house and car pretty much with you a zero carbon footprint and harness a pretty substantial investment front, but the payback is just trying to see when the folks were talking to me about it you're talking about the increase in value.

The house and then the benefits of the electricity electricity that you pay off the system. So is it just it almost sounds too good to be true.

So I should Reggie is that the payback period, and how long you can keep your home, you know, most folks just don't keep their homes long enough to realize the payback out of this if really you're just doing it to save money over time. You know, you certainly will be able to save on your electric bill in the long run.

But the biggest downside is it's just expensive and estimates for the average homerun started $15,000. Now there is a 26% federal tax credit for qualified systems. He got a check that out and they don't work for everyone. Depending upon the style of your home, the direction it faces and how that impacts how efficient the solar panels are typically get a good warranty for somewhere between 15 and 25 years, but you need to crunch the numbers just to make sure you understand what the payback is based on how you're gonna pay for this by an outright lease it for loan you get a loan for the money and then do you really think you're going to be there that long. There's a really interesting website that's free. It's actually a Google site if you just Google project sunroof you'll find Google's website for projects on roof and it'll be fascinating for you when you key in your address it'll pull up your home on Google Earth.

You'll see a picture of your roof and they'll analyze your home to tell you basically how many hours of usable sunlight per year.

Your roof gets it of the available square feet for solar panels and when you put in your electric bill little tell you get on the recommended solar installation size of the kilowatt you need and even at the bottom. It'll give you a breakdown of how many years it will take until the payback. Now these are all just estimates but it's great information at least is one data point for you to consider this. So I think that's really the key is you need understand what is my estimated net savings per year and how many years is it going to take for me to pay this off so that I can begin enjoying the benefit and are you gonna be there that long.

Does that make sense yeah the top looking at a with a few variables between seven and 13 years, which I thought sounded pretty good.

Does that sound to me in a lot of times it's 15 to 20 years. Okay I so I check that out. Perhaps a project sunroof will give you another data point. Maybe you can ask them about the information you're seeing. They disagree, maybe they can tell you why, but I would count the cost before you rush into this because it can be quite expensive.

We appreciate your call today a Pembroke Pines, Florida hi Jamie, how can I help you sir I rock my call a while back down got hard department with Miami-Dade County and it was about and doing 2000 and 8009 part-time and targeted, but over time while at work and allowed me it would lay out the and the idea came to that going to stop would attract and when I made it I will not why they call Vermont. That said, "go out dog would go eat. Then he moved his money from pension see… They don't do that while we giving way, and upon that I will not $530,000 but started a company without full year. Sorry I got promoted by termite gate… What went wrong is are you looking for how how to yes I can. So what is your main question at this point Jamie what is it your rest. What you might rock blocking one block inside the company can't be used throughout. What is ideas about unit to leave it and hope and pray you, so essentially you have a menu of investment options available to you to choose from. Is that right here, but I've not wanted by wanted new Apple, for example, do or the computer cart and I don't think that's a bad thing Jamie. So here's my thoughts. You know you really need to be properly diversified and I realize you know, especially if you're feeling like you're a bit behind in urine in your retirement savings. It can feel you really attractive to go after some of these highflying stocks that we hear about on the news or you know we see on the Internet but that's not the way that we invest long term that's can be too volatile. You're not can be diversified you to be highly concentrated in one sector of the market and it's good to be very speculative of the Bible describes the prudent investing is steady plodding and I think of the way to go. That is just capture the broad moves of the market you're not can get these wild upswings, but at the same time.

Jimmy you have to lose a bunch of money as well.

And so when we think about what it means to be a disciplined investor, you know, we need to first will be humble, there's nothing new under the sun. So let's be steady plotters and not chase after count of the new flashy investment option which these days is been the crypto currencies I'd stay away. We realize that we need to be content. We need to be diversified. We need to be patient, so I would be looking in your 401(k) for either a lifestyle fund that is really tied to your age and then gets more conservative as you need as you get closer to retirement or use one of the indexes are several indexes to capture the broad moves of the market again and I can get the up 20% in a month or two. But you and I can get down 20% in a month or two either. And the key for you is to keep your lifestyle at a minimum in the just on a disciplined basis be contributing into that account every paycheck, and if you do that over a lifetime for the next 15 years or more till you retire you'll have plenty of money.

God bless you buddy thank you for calling 800-525-7000. Got a couple lines open. This is moneywise line moneywise line posted here because he put his today that some lines open 800-525-7000 this time of year. Make sure you stay focused on the and it can be so easy to get swept up in all of the other things that come along this time of year, including the other expenses we end up buying gifts that we can afford and were trying to use those gifts to buy our way into people's lives.

And you know what we need to just step back and say let's set a reasonable spending plan.

Let's stay within.

Let's give the gift of our time and perhaps in some cases we need to use her gifts and talents to show people how much we care about them. We certainly don't want to get to January and have a whole mountain of debt as a result of the Christmas season and then let's take time to focus on Jesus, the real reason for the season and we got some great articles on our website and moneywise live.org that can help you focus on being generous this time of year and making sure we miss out on some of the craziness there's an article called 25 acts of generosity or team is put together and it's got some great practical ideas for how you and your family can be intentionally generous the season. Check it out when you visit moneywise live.org are back to the phone, Chicago, Illinois. W MBI hi Vanessa, how can I help you great things you earlier program and you're talking about termite insurance. Yes, I wanted to get information on are there different kinds of term life insurance or the different only in the amount you would pay for the policy, and the riders that you might get yeah that's essentially right. I mean there are different types of term in the sense that you and others renewable term which it offers you a guarantee to renew the policy after the term expires without needing to medically requalify there's convertible term where you can convert it to whole life. The others group term, which is usually offered through an employer, and typically the cheapest. We talked about this when there's the return of premium term which is basically where the cost is typically doubled, but it repays the insured for the cost of some or all of the premiums. If you are still living at the end of the term.

Problem is it's very expensive and you don't give me credit or interest on that extra money you're sending to cover that mortality expense that they're giving up so you don't really comes down to what are you looking for and I think a basic term policy that has the right number of years and recognizing that you want to get as longer-term as you can, but typically folks will not hold them till the end of the term they will replace them with the new policy now that obviously insured requires that you're still healthy to do that.

But with that basic term policy you to get the term insurance at the lowest cost, and that will help to make sure that you can afford the amount of coverage you really need. You know, which is a set a starting point is probably 10 times the income you're trying to replace and then it can go up from there. If you want to try to have enough to pay off a mortgage or fund a college education or it will pay off other debts that type of thing so I wouldn't be focused as much on the different types of term or the riders. I would just get a basic term policy for as long as you can with the amount of coverage you need. With a highly rated and reputable company and then just you know keep that as long as you can and then every probably five years I would take a look at whether you can replace that policy at roughly the same amount of dollars but extended to a new you know 20 or 30 year term and because people tend to live longer with medical advances in life expectancy continues to increase. Although we've seen that slight change in that just because the pandemic but generally speaking, your life expectancy is increasing which makes the cost of insurance less because the mortality's expense is less and therefore you can typically replace these policies every 3 to 5 years and until you had a certain age, you can generally do it without a lot of additional premium is that'll make sense to you, Vanessa and I went back now.

New York Life went insurance website that I have I have hope out there think convertible term and so what they mean by that is, converting it into a life.

I look at the term that webpage for term insurance and so I convertible yesterday then just basically means with a term policy. This convertible.

It has the option to convert to whole life without re-qualifying but in my opinion the better approach would be to get the term policy for your insurance coverage or life insurance coverage which again is the cheapest form of life insurance and then saved outside of that insurance policy where you capture the full return of your money because you're not given part of it.

You know to the insurance company of got more flexibility in terms of accessing the funds in its less costly which is why think, all things being equal or lesser some other compelling reason. I'd rather keep my investing in my savings outside of my insurance products and just focus on having a term policy that gives me the adequate coverage.

My family needs. If the Lord were to call me home question very quick and the font onto and I've been thinking and I think it term life insurance in case he died, then get out to continue the that the child take care of this. Take everything together thought it an extreme argument of the baby do I not for himself, and that may be an example of where you'd want to have a whole life policy because with the term policy. There will come a day when the end of that term comes that that coverage runs out.

But keep in mind, you know, in typical situation where there's not a medical issue where a lifelong dependency issue you once the person who's got the coverage reaches retirement. They don't need the life insurance anymore because they got enough savings that if something were to happen to them. Their spouse know can be taken care of in this case, he may want that death benefit to extend throughout his whole life, even beyond retirement and that's what whole life could come in so I think that is an unusual situation where it might require some additional planning. I would encourage them to reach out to a financial planner and an insurance agent who can really help them think through what he's needing to cover his son's needs throughout the whole of his life just to make sure everything is done properly so Vanessa, we appreciate your call today.

Thank you for listening and calling today Searcy is in Dalton, Illinois hi there, how can help them every day when I'm driving, so I and 66.

I'm still working and I started drawing my Social Security in August I'm trying to find a way to budget myself.

I have a lot of bills I own my home. I don't owe anything on the home they catch what X purchased it great. I need to like not putting aside money for me retirement you know backup plan, you know, spell I get you know if you can give me some idea come out Searcy. Do you have a retirement plan available at work in the novel because the job that I have unfortunately it got and all for anything really.

It does not not been there for 14 years. Okay, how much do you have surplus every month you have anything left over after the bills are paid say about maybe 500 Mike and I need to stop but now that link to add more to put it and someone to put it in a savings that was me and my next question. Do you have some savings set aside currently not yet what I'm saying you have to go back every time I try to put some of that is something coming out when I need to have done around the house or my will and are breaking down the next priority. Searcy even before you begin investing for the long term. I'd love for you to put a spending plan together. Which means you really need to have a great understanding of actually what is it take every month to fund your lifestyle. That's not only the things you get a bill for, but will call discretionary spending as well to make sure you understand where your money is going throughout the month.

You know even five dollars here and $10 there adds up to. Let's get a good clear understanding of everything your spending.

Figure out where you need to make changes to bring your spending down so that you can free up as much margin as possible and then I want you to save not into a retirement account but into a savings account until you get up to at least three months expenses at that point. Call me back and we can talk about saving for retirement, but right now I think the emergency fund is the most important next step. We appreciate your call.

Racquel is in West Palm Beach, Florida. We have just about a minute left. How can I help you $20 don't lack any dining February paint on that amount on my my question is what I have for them like you think it right now and Daniel.my my getting on again. Thank you. Hey, I slowly began monthly with you, see you have an emergency savings of 40,000 go to Okay you owe. How much of the student loans 2020.

Okay, so you could pay it off by using half of your emergency savings have not meant to learn like a painting sure what are your monthly expenses. I get laptop from a Catholic about what are your total expenses. If you are a total of all your expenses for a month.

What would you think that would be the family of four. My mind I pay my mortgage and I have only a car payment getting me okay between six and 7000 so she said yeah okay yeah so as long as you can keep three months expenses which is 21,000 I'd be comfortable with that.

You know your debt free and then take whatever you were putting towards the student loans would be once it's out of the firm and begin building back up your emergency savings. Also, make sure you're setting something aside for the long term through a retirement plan, but I think you have a lot of peace of mind knowing that you got plenty of money, so I'm on board with that, Racquel. It's a go right ahead play was not as a partnership between the radio moneywise media want to say thank you mighty today. Eric was with us. June without them. Thank you for being here as well. God bless you