What the Wealthy Know

Franklin once says an investment in knowledge pays the best interest. Put another way, knowledge helps build wealth by Rob West knowing things is an important part of managing money wisely, we might ask what do the wealthy know that others might not talk about that first today that it's all your calls and questions 800-525-7000 800-525-7000 24 seven. This is moneywise biblical wisdom. Your financial may have heard it. Savoir-faire.

It means literally to know how to do, we might say that people who successfully build 12 have savoir-faire when it comes to managing money. They know how to do, but what do they know there's no question that wise wealthy individuals tend to follow certain money management practices and if you doubt that Bank of America did a survey a while back of 700 people with assets of 3 million or more and they found that these people had grasped five important concepts.

The first is something we all strive to teach her children delayed gratification. 80% of these wealthy individuals said that investing in long-term goals is more effective than trying to get rich or spending money now on things that give only temporary satisfaction. Sound familiar. Well, Proverbs 21 five teaches steady plodding brings prosperity.

Hasty speculation brings poverty. The next thing wealthy people know is to avoid debt. Hey, that sounds familiar to Proverbs 22 seven the rich rules over the poor, and the borrower is the slave of the lender. So the wealthy use debt only with a definite purpose.

That means, in a way that's likely to provide a return.

Examples might be to buy a home. Start a business pay for education or by a car for work, stretching the point that you might say that using a credit card to get reward points falls into that category, but only if you pay off the entire balance each month. Otherwise, the interest will gobble up any rewards you might get.

It's interesting to note that these wealthy individuals have access to a tremendous amount of credit they could likely borrow however much they want, but the majority said they use it only when they have a reasonable expectation of a return on their money that exceeds anything they might borrow the next thing that wealthy people know takes us back to the idea of slow and steady plodding 85% of those surveyed said their biggest investment gains come by using a long-term buy-and-hold strategy in the stock market and they do that by not watching the market too closely. So it's interesting that these are not the investment gurus you see on financial shows trying to time the market. They just invest in solid companies and hold those shares for a very long time, 10, 20 or even 30 years. In some cases, no hasty speculation on their part well this next one can get a little more complicated.

But while these affluent folks don't watch the market closely. They do pay close attention to the tax implications of their investments, but I suspect a lot of them get professional help for that and so can you. We always recommend you consult with a certified kingdom advisor for that you can find one in your area by going to moneywise.org now you don't have to worry about any of that. Unless you are investing in a conventional brokerage account for most folks investing means using a qualified retirement plan and taking maximum advantage of the tax breaks already built into accounts like a company 401(k) and IRA are a 529 education savings plan about the last thing that wealthy people know is the power of investing in tangible assets like real estate. Pres. Franklin D. Roosevelt once said real estate cannot be lost or stolen, nor can it be carried away, purchased with common sense paid for in full and managed with reasonable care. It's about the safest investment in the world. Nearly half of these high net worth individuals said they like to invest in things that provide income. You may not be able to buy a whole rental house, but earlier this week we talked about how you can buy shares in REITs or real estate investment trusts. Most of these derive revenue from the rent paid on the properties they own, which shareholders then received this so REITs are a way that smaller investors can own a piece of big real estate projects so those are five things that wealthy individuals know and now you know them to.

And it certainly worth noting how many of these are actually God's financial principles as we like to say. Often the very best that Wall Street has to offer finds its roots in wisdom. And don't forget God owns everything. That's the starting point because then we are his managers stewards are here because her next call is 800-525-7000 lines open will be take your calls and questions here in just a moment you'd like to get in on the conversation today, we'd love to hear from you because 800-525-7000. That's 800-525-7000 13 the standing Brian will get you on the air very quickly. We started today by talking about what the wealthy know that's right based on a Bank of America study of 700 people with assets of 3 million or more. They found five important concepts that we unpacked today on the program related to buying and holding in delayed gratification, avoiding dad's paying close attention to the tax implications of their investments investing in tangible assets, things that they can understand like real estate, and obviously those are key ideas, many of which find their roots in biblical wisdom, but one of the bigger ideas here is that we need to make sure that we put money in its proper context and that is that money is a tool to accomplish God's purposes, the trappings of wealth are real, we see that throughout Scripture mean you go to the parable of the sower, you'll see that when Jesus described what choked out for that. The seed from bearing a 3060 hundredfold return.

It was the things of this world and the deceitfulness of riches, you know, that's a real warning to us that if we allow money to dethrone God from his rightful place in first position in our lives. Well, it can become an idol when we see it, though, as a tool to accomplish his purposes.

We hold loosely and we live and surrender to him and we actually see our financial journey is a key way that God shapes our spiritual journey. Well, it can be used as a powerful tool for good to help others and to provide for our families as we live simply. While we want to do that together each day. On this program explore the Scriptures and talk about the decisions and choices you're making.

So you can make a wise decision about how to handle God's money, you know, we are incredibly blessed here. I saw a study recently that said, the US holds almost 30% of the world's total wealth. The next closest is China with 18%. Well, we should quickly then go to Luke 1248 for from everyone who is been given much, much will be demanded and from the one who is been entrusted with much, much more will be asked. So as believers. Let's continue to be in pursuit of being generous and growing God's kingdom on earth.

In whatever way he leads us to do and we want to encourage you in that endeavor it's worth it. And there's incredible joy that follows any other question today would love for you to get in on the conversation. 800-525-7000 is the number to call were to begin today in Charleston, South Carolina Doug Enke for calling circular and that my call. My lap are aware six years without renewal.

My grandma on that day sale and have given us 30 days to vacate and or an area where there is no houses available at the little exaggeration but 4/89, but are not under contract. For example, all the way of Christ and the ripples in the same way were trying to determine Oregon be better to overpay for a rental and weight are made better to overpay for a mortgage and we can in the long term to be overpaying for well I appreciate that question. I know this is a particularly challenging real estate market.

I think in light of what's going on around us with some of the softening in the US economy clearly interest rates on the rise.

Mortgage rates now over 5%.

Although we have a really strong labor market and that was reinforced by her most recent data on the growth in the number of jobs we are seeing some warning signs that perhaps there's a slowdown on the horizon that we could even see a recession here in the next year or two. Many economists and I trust say we could see something along those lines.

Perhaps next year. In the second half, the Federal Reserve is trying to engineer soft landing. But what is all of that mean for the housing market.

Well it's not that the housing market was in a bubble situation because there are real supply and demand issues there. We have a shortage of the best estimates are about 3 million homes in this country and because of the of some of the challenges with new-home construction because raw material prices and just the real demand for single-family homes given folks moving out of urban areas in the suburban millennial's having kids and buying homes you I don't think working to see any kind of the significant decline in the housing market, but I think what you will see is some of the premiums that folks a been paying to buy houses over and above real market values. Certainly the extreme increases. We've seen year-over-year in the last 12 months I think we'll see a cooling of that I think they real key question here for you. Doug as you think through a decision-making process on this would be.

Are we ready to buy a home yet.

We need to factor in the housing market, but at the end of the day. This is where were going to live so it's not a straight investment in the sense that you would typically think about an investment is the best place to deploy capital and when it serves its purpose.

Liquidated a move on to something else. That's not how we approach our homes.

So although I don't like you overpaying for rental prices, which are entirely accurate.

That with the elevated home prices in the demand. Significant demand we've had.

It has caused rental prices to move up but I'd rather you pay a higher rental price than try to buy a home that you're not ready for because either you haven't saved enough, given where home prices are today and what would meet your needs or it's gonna put a mortgage payment in your budget. The just simply crowds everything out and is going to place unnecessary stress on you and your wife. So I think to use as part perhaps a starting point for that decision-making process would be to say about what price home. Would you be looking at given where the market is today and what meet your needs and your family and get you in the location you desire to be in and do you have 20% down and could you end up with a mortgage payment that's no more than 25% of your take-home pay right now about 300,000 so we would not have a 20% down payment on okay what you have saved up over and above your emergency fund about 15,000, 15,000 okay yeah so you're only about 5%, so I would say that's probably an indication that we need to wait and even though you can end up renting something that's no good be elevated. I think what it could present is an opportunity for y'all to keep your expenses lean continue to save and build up for that down payment and find yourself buying even though rates will be higher you know sometime in the next 12 months. Maybe your couple years where the housing market has cooled a bit, we wouldn't have so much of the frenzy that were seeing right now that might cause you to have to pay beyond the fair market value for something and it's certainly not gonna put you in a position where you'd be upside down.

If we saw some modest decline in the housing market anytime soon. What about just the budget side of it. If you were to do this again. I'm not recommending a blood so you had a mortgage of 285,000 if you looked at the payment on that and how that would fit into your budget. We can afford that. You know, we can afford. About $2500. About $21-$22 okay and what percent of your income.

Would that be your take-home pay a little left at 20% okay yes I mean that's that's pretty good in the sense that if you could cover principal, interest, taxes and insurance and be a little over 20%. That means you have good cash flow and it would give you an opportunity to really focus on making sure you you save up alongside that because I would suspect you should be able to fit everything else and nicely, so I think that the downside is just that down payment. I mean, I'd love for you to get at a minimum 10% and which would be 30,000.

So I think that's the key for you.

I like the, the percentage on the payment. I'm not crazy about the down payment. What kind of margin do you have on a monthly basis that you could use to add to this, down payment, we will probably take about a year but we could gather another 50,000 yeah but I think that's a decision you gotta work through that would be my preference. Just that you don't go in pan private mortgage insurance. Would you know 95% loan to value the push the pause button you find somewhere to read tier for another year or so will you build up a little bit more in the way the down payment and really focus on keeping your expenses lean ill because the payment fits nicely in the spending plan. If you all said you know what we just really feel like we need to go for it. You know I could live with that. But that's not my preference, my, my preference would be all delay this continue to say and then fire with a little more equity and again keeping that mortgage payment right in line with spending picture you have a good plan that so I think that's a decision to think through for me. I put it off. Appreciate you call the dog. All the best, is this is moneywise my back is moneywise lavishly apply God's wisdom to your financial decisions and we save decisions because that's what they are not about being prescriptive about the decision-making's underlying taken really define the decision making and how I look at all of the possible alternatives know what we call a binary trap this or that. Considering all of the alternatives and then drawing from God's wisdom to apply to those principles to your decision and then moving forward with the best decision possible will help you make some good decisions today.

Would love to hear from you. We got two lines open at 800-525-7000 back to the phones we go Illinois where Catherine is located Catherine you so much for taking my call. John recently purchased a credit union company in all I could take some time from my checking chart which is where I pay my bill and put it into a money order in my safe deposit box just pretty much. For safekeeping I think about it being audited.

If there is a large guy don't have concerns about that and talk together about what you're trying to solve for here what is the possible scenario you're trying to address with this action that you're describing well you currently coming in the future didn't help that which is printing new currency market have something to do with text or the content order is just a six-month short-term pain. I was thinking if there's anything that went until translation would take place immediately be safekeeping.

Yeah, I certainly appreciate that when you talk about a new currency coming, you may be referring to a digital currency feel what's referred to as those CBBC which just stands for central-bank digital currency were executed to a program on that in the next several weeks just specifically on that in the discussion around that is come from the Biden administration, which basically released a paper saying that they were going to begin a process of researching and not committing to it one way or the other but saying how would we secure it.

What implications would it have on our financial system. Other countries have already done this, and the US is just exploring whether it would want to do that as well would not be interest-bearing so that would not be a mass exodus of US dollars, but it would you represent our first move as a nation into digital currencies with the central bank behind. That's not gonna happen anytime soon. If it happens. I suspect it will at some point, but I would say that would be several years away will talk at length about that but in terms of you pulling money out I wouldn't if it were me I would have cash on hand in terms of one to two weeks worth of expenses you most experts will recommend one weeks worth of expenses in cash that's safe in your home in a fireproof safe and the idea behind that and we always want make sure we understand why were doing what were doing.

The idea behind that would be that if there is a disruption in the financial system or disruption in the banking system that had to do with your particular bank or credit union that you be able to find your expenses for week to two weeks time to give that a chance to work itself through the system but not put you in a position where your hoarding lots and lots of cash, which by the way, present safety issues and in light of the inflation were experiencing. That's losing purchasing power. I believe that the backing of the full faith and credit the United States government for your your dollars with that backing providing both coverage for banks as well as credit unions, even though it's a little different banks use the FBI see the Federal Deposit Insurance Corporation credit unions use the NCUA and and in either case it's federally insured so it's backed by the by the US government, and I think especially in light of interest rates heading up Catherine the of the fact that you wouldn't be earning anything on that money were as you could in the high-yield savings account approaching 1% a year and it will continue beyond that, I just don't have any concerns with you having your funds there backed by the US government and don't think you're really accomplishing anything, necessarily, by pulling it out, converting it to a money order for a period of time and then storing it in a safe deposit box but give me your thoughts on everything that you shared ideas Currently As Well so I Get Applicable When the Q. week Expenses That I Think I Can Help. In Fact, the Money Now or to See What Happened, Which Is What I Had Heard down I'm Not Aware of Anything That Needs to Be on Your Radar Related to September. Specifically, I Think You Know Only Look at the US Vis-À-Vis the Rest of the World Where a Pretty Strong Position in Terms of Our Economy Currency.

There's Nobody Anywhere Close. Ultimately, We Need to Trust the Lord but I Don't See Anything on the Horizon Because You Allowed Your Bank Will Be Right Back with Us Today.

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We'd Love for You to Check It out. You'll Find It in Your App Store to Search for Moneywise Biblical Finance You'll Find Our Moneywise Community Which Is Been Really Active Lately. Lots of Folks Stewards Just like You Posting Their Questions, Sharing Ideas, That's What It's All about Is God's People Come Together to Wrestle through the Decisions and Choices They're Making Is There Managing God's Money That's in the Outputs Are Moneywise Community. You'll Find or Learn Tab with All of the Articles and Podcasts. From What I Would Say Are the Leading Voices in Christian Finance We Just Recently Added a Whole Library of Randy Alcorn's Material so You Will Find Just Wonderful Resources There in the Moneywise App but When You Downloaded and Our Money Management System. The Cornerstone of the App That Allows You to Manage God's Money Using the Spending Plan. Tracking Your Expenses with Automatic Downloads from All of Your Financial Institutions and There's Three Different Approaches One of Those Will Fit Your Personality and Money Management Style so Had to Your App Store Today, Whether That's Google Play or Your Apple App Store and Just Search for Moneywise Biblical Finance.

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Every Line Is Full, so You're Probably Getting a Busy Signal. If You're Trying to Call but Sit Back and Enjoy Some Great Questions Were to Head Next to Lorraine Ohio William Europe on the Program Credits Are All around I Do I Go about Getting a Note to Know Family Members. Yes, How Much Are You Looking to Make in the Way of a Gift, the Gift of My Old Life Book Collection of 1400 Books on Patients in Writing.

Cymbalta Wanted to Pass along What I Would Make off the Books to My Daughter and My Son-In-Law about My Brother's Son, Alan Hobart Doing That in a Course Will See You Got a Couple of Options. If You Want to Give the Gift While You're Alive. You Can Give the Gift of Any Value to Anyone Legally. The Question Is Just We Have To Pay Taxes on It. Generally, No. Just Because There's Pretty Significant Limits. You Might Have To File a Form but Tell You Wouldn't Have To Pay the Tax. And Here's What I Mean by That.

This Year You're Allowed to Give $16,000 a Year to Any Individual and to His Many Individuals As You Want and If You Were Married, That Would of Course Be 32,000 in the Form of the Gift That Could Be Cash or Other Assets If You Exceed That Amount 16 Individually or 32 Is a Married Couple, Then You Would Just File IRS Gift Form 709 You Wouldn't Pay Any Taxes on It until Your Incredibly Generous Succeeding over Your Lifetime. $11.7 Million. So If You're Not Planning on Giving Anything beyond That, Then It Would Just Be Gift Form 709 to Report It but You Would Know Any Tax on It Now If You Want to Handle This As a Gift in Your Will Will That's What Your Will Is for to Expressly State How You Want Your Executor to Distribute Your Assets and Personal Effects to Your Heirs. And so You Would Work with an Estate Attorney to Draw up a Will He or She Would Talk You through the Various Considerations Help You Articulate Very Clearly What You Want to Distribute to and to Whom. And Then at Death That Your Executor Which You Would Name Would Work with the Probate Court to Settle Your Estate and Then Distribute the Assets According to Your Wishes up. Does That Make Sense William to Do a Will and Should Will Always Be Doing You Think about with Attorney, Should They Also Be Filed with the Probate Court Is That a Standard Yeah so Depends on Your State but You Would Typically like Princes Here in the State of the Georgia It Is Filed so You Would Talk to Your Attorney about That in Terms of How to Appropriately Record That Will and That's Why Recommend Even Though You Can Do It Yourself Online, You're a Little Less Expensive. I Do Encourage You to Use an Attorney Just to Make Sure You've Considered Everything up Standard Will Cost You Somewhere around $500 Maybe a Little Less. It Would Be a Great Time. The William While You're Doing It to Consider Other Legal Instruments That You Need to Have so Durable Power Of Attorney so Somebody Can Act on Your Behalf in Terms of Making Decisions of Your Incapacitated Living Will, with Your End-Of-Life Decisions Being Made, and Even I Was Called Healthcare's Arrogant so Somebody Can Make Healthcare Related Decisions. If You Are Incapacitated.

All Those Things I Think Are Really Important.

So If You Have an Attorney, Great. If You Don't Tell You Could Contact a Certified Kingdom Advisor There in Ohio. Ask for a Referral to a Godly Estate Planning Attorney to Score Website Moneywise.org and Click Find CK and William. We Appreciate Your Call Today Sir Chris in Orlando. You Go Right Ahead and Will You You Have a Job You Will Now Okay Well This Is a Great Opportunity for You to Be Thinking about This Chris What Is Your Age If You Don't Mind Me Asking 40 Okay and Do You Have a Sense of What the Value of That ESOP Will Be When You Reach Retirement Date of Your Choosing. So I Would Try to Get Some Understanding of of That Because the Next Step Would Be to Do Some Retirement Planning Just to See What It Would Look like for You to Stay on Track for Retirement and Be Able to Have. You Know the Assets Building up to Me and As a Rule of Thumb. Ideally It Would Be Great If You Had 10 to 12 Times Your Income You Saved up and Realize I Can Be a Significant Amount of Money but That Would Be Great Because the Idea behind Social Security Is That It Would Typically Only Cover about 40% of Your Pre-Retirement Income. So Let's Say in Retirement You're Living on 80%. You Have To Solve for That Other 40%. Ideally Being Debt-Free. You Know, by That Time Would Be Great, Because That Will As You Keep Your Expenses As Low As Possible Alongside That ESOP. Do You Have Any Other Company-Sponsored Plans Available to You, like a 401(k) Okay Then a Great Option Would Be a Roth IRA and Basically This Is a Retirement Plan That You Would Set up Individually.

You Could Put in of 6000 This Year. Once You Reach Age 70.

You Can Put in 7000 in the. The Contribution Limits Change Year by Year. Not Every Year, but Most Years so You Can Open a Roth at One of the Brokerage Firms like a Charles Schwab or Vanguard or TD Ameritrade or One of the Robo Advisors like Betterment That Would Allow You to Put in 6000 for This Year and You Could Do That Each Year As a Supplement to Your Note. ESOP and the Opportunity There. Chris Is That This Is after Tax Money so You and I Can Get a Deduction, but As That Money Gets Invested in That It Grows over the Next Let's Say 20 Years You Were to Retire at 68 All the Investment Gains That You Have Would Be Tax-Free Amount without Any Tax Really Powerful Long-Term Investing Tool. If You Don't Have Someone Who Can Help You with Those Investments. A Real Low Cost, Easy Way to Go Is Withholding Robo Advisor. I Would Look at the Schwab Intelligent Portfolios Betterment Either of Those Could Be Great Options Betterment of the Schwab Intelligent Portfolios Open up a Rock to Put in a Monthly Contribution 6000 Right Back on Monday Will Think Certain Candidate of Moneywise Last Year along with Us Today. We Got Some Lines Open for A Few More Questions. In Fact, Stay after Today, Just beyond the Program to Answer A Few Extra Questions When I Have Time and with Four Kids. It Doesn't Happen Often, but Today Is One of Those Stickies so You a Question.

We Love to Hear from You. 800 525 7000s in a Medical Canton, Ohio. Ruth Is Calling from Canton and We Appreciate You Being on the Program. Karen Had to Thank You so Much for Your Ministry, My Question Question to Put My Mind Getting a Little Bit Maybe and Then Follow up. My Brother Had Cumulated Quite a Bit of Student Loan Debt He Had. Doctorate Bites. He Had Very Large Amount of Debt Which He I Don't Know the Exact Amount but I Couldn't Hold I Will Never Eat His Words Are I Will Never Be Able to Pay It All off. The First Thing If Something Should Happen to My Brother. Is There Any Way That This Comes to Me and My Family to Take over That Gap Truth Know in General. If He Passed Away. The Debt Would Be Written off Unless Someone Else Cosigned for It If Someone Cosigned Will That Person Is Then Legally Responsible for the Loan, but Apart from That It Would Be Repaid Out Of His Estate, Which Is Basically Just the Settling of His Assets. No One Else's to Repay Any Obligations in Whatever Assets Are There Would Be Used To Pay Those off, but Any Debts That Remained That Her Only His Not Cosigned by Somebody Else That Go beyond the Assets That Are in His Estate Would Be Unpaid and Written off What I Want to Check That out on a Deeper Question Wiki. He Gets Worked at the Public Defender" for over 30 Years and I Know That There Are Programs Available Right Now for Get Forgiveness Right Arm to Get Public Service.

I Wondered If There Was Anything That Could Be Exploited. There Are, Yeah, There Are a Number of Options Specifically As a Public Defender. The Most Notable Would Be the Public Service Loan Forgiveness Program Which She Would Qualify for As a Government Employee and Basically That Would Mean That He Would Need to Make His Payments Faithfully for 10 Years Hundred and 20 Monthly Payments and at That Point the Rest of His Debt Would Be Forgiven. The Does Need to Look into That.

Make Sure That He Qualifies for and Make Sure That He Gets All of the Payments in on Time and so There Have Been Folks That Have Been Surprised by That. In Fact, There Was a Recent Acknowledgment by the US Department of Education That That Program Is Not Been Handled Efficiently in a Very Small Percentage of People Actually Getting through Audit. They Made Promises to Rectify That Situation, but Nevertheless I Think That's Certainly Something for Him to Look at. There Are Other Loan Repayment Options Specifically for Attorneys As Well, but I Think Is a Public Defender That Would Be the One I Would Key and on for Sure Just to See If He Does in Fact Qualify for That He Should. And If He Does Then after 10 Years It Would Be Forgiven.

Wonderful Night to You about Something I Could Find It Verifying Checking That I Can Get Instant Information on That He Felt That This Is That Vicki Has Acquired Archaic and I Just Think That Start His Public Service, but That Should Be Something That Is Accepted after 10 Years in Faithfully Paying Yes Is Very Good.

Well, Thank You for Calling for Looking after Your Brother Hopefully That Helps You Ruth and God Bless You.

Let's Head to Die in Illinois You Go Right Ahead.

I Diary with Us, O Heidi and Heidi Okay. I Had Somebody Put the Something on My Screen That Made Me Think It Was in Heidi about That Was My Fault.

So How Can I Serve You Go Right Ahead. Thank You for Letting Me Call. I Was Wondering about the New I Don't Know Whether or Not There You Are Not, but the I Bonds Have a Real Good Interest Rate May Right Now You May Have Some Kind of a Insurance on That like the FDIC Bank. Well, It's Not the FDIC's but It Is.

It's Better Because I Mean Essentially They're Both Rocksolid FDIC Is a Corporation That's Government-Sponsored That's Backed by the US Government. In the Case of the I Bonds There Actually Backed by the US Government so These Are Essentially Risk-Free Investments Backed by the Full Faith and Credit of the United States Government so Other Issued by the US Treasury Department You Get Them Directly from the Treasury Treasury Direct.gov so You Really Don't Get Any Safer Heidi and Obviously with the Interest Rates That Are Being Paid Right Now and 9.6% Return. If You Can't Beat That Anywhere I Given the Level of Safety Were Talking about. The Only Challenges You Can Only Put in 10,000 a Year Unless You Get an Additional Five and through Tax Refund and You Have To Hold It for 12 Months but Why Wouldn't You Want to. At That Rate, How Many One Year Just One. You Can Buy up to $10,000. Yes, You Be Able to Put in $10,000 up to NI Bonds and You Could Do That Electronically through Treasury Direct.gov and Then If You'd Wanted to Put an Additional Five and If You Had a Tax Refund Coming Guiltless at Some Point down the Road You Could Do That, but Yes, 10,000 Is the Max Annually Totally Annually. Put Another Housing Exceeded 10,000 Annually Wonderful, Wonderful, Thank You Very Much Okay.

We Appreciate Your Call Today. Heidi Got Bless You.

Indianapolis Is Where Rachel Is Located in the Rachel You Go Right Ahead. You Finance Led by Derek and Found One You Have Aligned with What Our Goals Were and Are on Comfortability Went Level and That We Been Making for A While That Beth Burned Eclectic Clothing at Branch near Where We Are and He Is Now Opening His Own Private Firm like I Are Going to Find out If Any. Thank I'm Really Unsure on the Rightness of the HQ Statement and to the Questions Trying to Keep an Accountant Client, or That You Think of Arrest. Thank You, Not with a Big New Attorney Mark Yeah I Don't Have Any Concern Rachel with This Advisor Being Independent.

A Lot Of Advisors These Days Are Going Independent Doesn't Mean That It's Wrong with an Advisor Being with One of the What I Call Wire Houses so the Typical Brand Names That You Would Know but Many of Them Are Moving into an Independent Environment They Would Still Custody Your Assets with a Major Brokerage Firm so Would Be like a Fidelity or Charles Schwab or One of Those There Just on Their Own in Terms of Managing Their Own Business, but You Would Have Been of the Same Type of Your Back Office Systems and Statements Coming from a Brokerage Firm That Are Audited and All of That so I Was Really Not Any Additional Risk in My View, with That and I Think the Key for You Is Just to Find a Financial Advisor That You Feel Really Comfortable with in Terms of His or Her Experience in Ethics and You Know How That's They Performed for You. If They're Actually Managing Assets and Whether They Understand, What Your Goals and Objectives Aren't Really Trying to Meet Those with a Properly Diversified Portfolio, and That There's Proper Communication in the Rhythms That You're Looking for and in the Ways That You Want to Be Communicated with, but Just the Idea That He or She Would Be Going Independent Doesn't Give Me Any Concern.

Okay, Yeah, Thanks for Your Call.

We Appreciate It Very Much to Florida… Thank You for Calling a Redhead You Are Going to Retire for a Line Told They Cannot Railing Running Monthly Pension and What I Can Carry Their Money in the 401(k) You Have To Transfer Them into Some Kind of a Trot Retirement Program. You Can Leave Your Money in the 401(k). I Typically Advise You to Roll It Either to Your New 401(k) If You're Moving to an Employer That Has a 401(k) That Will Accept It or to an IRA.

You Usually Get Lower Fees and with the Lyra, You'll Certainly Have More Investment Options and I Just Think It'll Having Specially Get Multiple 401(k)s Know Just Gets Complicated and the IRA Is a Great Place to Consolidate Your Retirement Assets Rather Than Leaving Them with Various 401(k) so I Would Probably Look First to Your New 401(k) Just As If You're Still Continuing to Work and You Gotta Be Contributing to Another 401(k) Having All of Your Assets in One Place so They Can Be Managed Together Make Some Sense, but If Not, I'd Look to Roll into an Individual Retirement Account. That's Not a Taxable Event but You Would Need to Decide What Custodian to Use and How You Want It Invested Whether You'll Hire Somebody to Make Those Decisions for You or Whether You Be Doing That Yourself.

All I Will Think You Is It's Very Kind of You Got Bless You, I Would Stay in Florida and Finish out Today with Lynn in Miami to Read What It Will Make It out.

I Know I'm Not Waking My Thinking and Have Been Out Of Work That Late. About a Month Now. The Idea That Only That It Cannot Sue Well That the Thing I Would Say Is How Many Months Worth of Expenses. Do You Have in That Emergency Fund Separate from His 15,000 535 Months Will Be a Given That You're Out Of Work Right Now Will Certainly Be Praying That the Lord Will Provide Something Quickly. I Would Not Be Looking to Deploy This Right Away Because I'd Love for You Have. First of All, At Least Six Months and Given That You're Out Of Work. What If It Takes a Little Longer Now. This Is a Strong Job Market so Hopefully You Can Find Something Quickly, but I Would Probably Go Slow. Once You Have a Job If You Want to Put This to Work I Bonds Would Be a Great Option. We Talked about Those Earlier 9.6% Return with No Risk Getting the Treasury Direct.gov That You Got a Hold It for a Year. Let's Wait to You Get a Job. Thanks for Your Call Today Is a Partnership between the Radio and Moneywise Melody and Amy and Jim, Thank You for Being Here As Well Join Us Tomorrow