What “God Provides” Really Means

Born 19 readings and my God will supply every need of yours according to his riches in glory in Christ Jesus, I am Rob West will no doubt that verse is assured. How was believers over the centuries of God's unfailing love. What does it really mean is it possibly misunderstood all talk about that first today that it's all your questions at 800-525-7000 800-525-7000. This is moneywise live political wisdom for your financial journey. Obviously, God has provided is salvation through faith in his son Jesus Christ. But after that. Is there a limit to God's earthly provision for us. While there certainly is. We must always remember that Philippians 4 does not say in my God will provide every want of yours, only your needs according to his sovereign will. Now does that mean God wants you to take a vow of poverty.

Some have mistakenly taken Jesus answer to the rich young ruler to mean something like that.

It's an important teaching included in all three of the synoptic Gospels. But Jesus only told him to sell all he had give to the poor, and follow me to reveal what was in the heart of the rich young ruler, a love of money and wealth that was greater than his love for God. We must all be wary of that in our lives, no matter how much or how little we have God may intend for some of us to experience great need at times as a part of his plan, but nowhere does the Bible teach that we are all to live that way. Now, if the Lord doesn't mean for us to be poor necessarily should we then expect great riches. I know most of you are shaking your heads know right now.

But far too many people have been duped into that thinking.

Of course I'm talking about the so-called prosperity gospel, which is contrary to Orthodox Christian theology. It claims that God will reward you with material wealth and physical health are according to your faith, so as your faith increases so will his reward to you of course God's word never promises material reward now that false doctrine rests upon another one related to Christ's atonement for us on the cross. It states that Christ died not just to remove our sin, but to also remove poverty and sickness as if opening the gates of heaven for us for all eternity wasn't enough, the prosperity gospel is actually a modern invention. It started in the US on a small scale in local congregations and tent revivals. After World War II, but it really took off through the use of radio and television to reach millions and lead them astray. By the 1980s. It's also responsible for giving tele-evangelism a bad reputation. There are many true Orthodox Christian preachers on the airwaves. Of course, but the world tends to lump them in with the relatively few prosperity gospel preachers. The prosperity gospel may have started in the United States, but it certainly hasn't ended there. It still spread by misguided or false teachers, and not surprisingly, it seems to spread faster in areas with great poverty, so it's really taken hold in Africa, South America, and other areas where people struggle to make a living or have chronic disease. So how can you tell if someone's a prosperity gospel preacher while theologian John Piper has identified several common traits to watch for the absence of doctrine related to suffering. In John 1520 Jesus warns. Remember the word that I said to you, a servant is not greater than his master.

If they persecuted me, they will also persecute you.

John Piper says the absence of a doctrine of self-denial. The absence of detailed exposition of Scripture church leaders with exorbitant lifestyles raising the importance of self over the greatness of God. If you think the prosperity gospel is being preached in your church pray for discernment and study God's word. If you become certain. There is false teaching presented in your church follow Jesus instruction in Matthew 1815 through 17 which reads if your brother sins against you, go and tell him his fault between you and him alone. If he listens to you, you have gained your brother. But if he does not listen, take one or two others along with you that every charge may be established by the evidence of two or three witnesses. If he refuses to listen to them tell it to the church and if he refuses to listen even to the church, let him be to you as a Gentile and a tax collector or you can simply look for a Bible teaching Bible believing church. So to recap, God will always provide for your needs as he determines them and all he expects is that you be a faithful steward of that provision are at your closer. Next, 800-525-7000 1500 525-7000 here listening to moneywise live will be right that is moneywise live lines open 800-525-7000 is a number to call its 800 525 €7000 we think about our role as stewards of God's money. We want to be found faithful in handling that well so we go to God's word and we apply the Council of Scripture, the big themes that were to live with contentment within God's provision that we should save for the future provide for our families and yes give generously holding everything we have, loosely and realizing that it's a privilege and even an act of worship to participate with God in his activity, but I know you have questions about your day-to-day finances. How you establish your spending plan or same for the future and what's the right amount given what about giving versus paying down debt. How do we reconcile those two all of these questions that come about on a daily basis. Well, as we recognize that money issues are hard issues and that God's word speaks authoritatively that all that we have to deal with. We can apply biblical principles to those decisions and choices. Financially, I'd love to talk about that with you today with whatever is on your mind, financially speaking, so give us a call or team is standing by will be glad to take your call 800-525-7000 is the number to call this week's featured Scripture verse in our weekly wisdom email digest is from Philippians 46. You probably know it well.

Do not be anxious about anything, but in every situation, by prayer and petition with Thanksgiving present your requests to God. While that's good news from God's word and if you'd like to receive our weekly email of the latest trending biblical financial topics, articles, videos, podcasts will go to moneywise.org and click the button that says create your free account to subscribe. It goes out each Monday and we were privileged to send this week's edition.

Earlier this week. If you didn't receive it, it's probably because you're not signed up moneywise.org and click to open a free account this week's email was entitled the power to enjoy what God has provided for some thoughts about that. Plus we share our recommended reads are trending podcasts and of course that verse of the week and I just read so sign up today@moneywise.org coming up on today's broadcast. I didn't get to time yesterday to share some thoughts on must have skills for young and young adults. I'll be sure to get that in today as we think about preparing the young adults in our home to be future adults, both with the understanding of God's heart as it relates to their money but also with those necessary financial skills and concepts like budgeting, saving insurance and investing what they need to know what unfortunately recent survey by the TI AA Institute released in their personal-finance index that most 18 to 25-year-olds in the survey show a failed to show a working familiarity with these financial concepts of will talk about what those must-have concepts are and hopefully give you some encouragement as you move forward will also be taking your calls again. We got lines open today would love to hear from you. 800-525-7000. Let's begin. Though today with a couple of emails we receive emails all the time from listeners like you and we try to get as many of them on the air as we can, by the way our moneywise community is very active as well. If you'd like to visit our community and the Alper on the website moneywise.org just about every day. If not multiple times a day folks are posting their questions and you are listeners and stewards on the journey are responding, sharing ideas and insights on others questions what you'd like to be a part of that moneywise community. You can access it moneywise.org this to us. This comes to us by Kenneth and he writes I'm trying to help my mom with financial decisions. She's trying to pay your debt off but she may not be making the best decisions.

How can I help her and Kenneth the this is a challenging situation. We want to honor her parents want to step in and help. And it's often difficult, especially when we see them making poor financial choices and where perhaps our assistance is actually causing that behavior to continue. So the first step. Here is really whether or not your mom is willing to sit down with you and go over her income and expenses to develop a budget.

If so, that's the place to start that you could of course set up a budget with the free money wise Alpine that would allow her to monitor her spending. She could also allow you to do that as well if she wanted to rely on you for some assistance if you want to help her financially. Let's try to find a way for you to do it in a way that promotes and encourages the right disciplines and habits. This can lead her toward financial health. So, for instance, could you offer to match payments she makes on her debts. If you do that, I would encourage you to make the payments, perhaps directly to the lender and not your mom. But that's the kind of thing you could do to encourage her in the right direction. If she's uncomfortable with you having that level of familiarity with her finances.

Perhaps you could take advantage of one of our moneywise coaches of this would be somebody 1/3 party who could come alongside her help her with that spending plan that debt repayment plan and perhaps could even report back to you how it's going.

That would give you the confidence to know that when you help if you're able to do so you're doing in a way that's productive in helping her move in the right direction so Kenneth make this a matter of prayer know you want to honor your mom and serve her well and help her out of this jam.

We also want to make sure that she's on a path to financial strength and health in making good decisions, so I'm confident the Lord will help you navigate that as you work through that situation. A quick second email and then will head to the phones. This one comes to us from Henry and he writes how can I get my wife and I to save together. Well Henry, I would say the first and best place to start is by sitting down praying together, and then establishing your shared financial goals and I'd look at those goals in light of your values and priorities. Where is God taking you as a family and how can money be a tool to accomplish that will as you will come together around what's most important to you. The exciting thing is that then any sacrifices that are made in the short term.

In view of the long term are much easier because you know you're driving toward ultimately what God has for you. What you establish those shared goals will then redo your budget to make sure it allows for you to do just that. I would encourage you to meet weekly.

Recall that a money date to go over your spending and determine if you're making progress. If so, celebrate. If not, make adjustments, but the idea behind marriage is, of course, oneness, and I'd love to see the finances be that source of oneness with the budget being the instrument of peace that allows you to move forward together. I hope that's an encouragement to you Henry and report back.

Let us know how that's going are, let's add to the phones we got slides open today perhaps a few more than normal. Even 800-525-7000 give us a call and let's begin today in Chicago. Jason how can help user hello hey Jason, go right ahead.

I actually from Indiana sort. Oh, my apologies. I was actually inquiring about credit reports to my wife pretty good credit, or about my is pretty loaded under the electronic rebuild that a lot of my accounts are closed and work on. I only have about to open accounts last and once I get them paid on how should I still focus on the counselor will affect it that much anyways because it's not like this closed account. I guess my student loans are closed or I know they jump off after seven years. I know I know where those delinquent at some point or in collections or they were okay that you paid them off that they been paid in full prior to being closed now. Okay, so there's still outstanding balances on those gifts are okay very good. Let's do this sign.

I know you're driving. Are you able to hold just a bit longer. Okay great I will need to take a quick break we come back we'll talk about how you should think about these accounts and as it relates to your credit scores well will be right back on moneywise lives there with us. Thanks for joining us today on moneywise live biblical wisdom for your financial decisions, as does taking your calls and questions today. 800-525-7000 800-525-7000 just before the break we were talking to Jason in Indiana at Jason's wondering how to think about and get on top of some old delinquent accounts plus a few that are still current that are on his credit report. Several of those still already closed and yet still showing balances, Jason the first have you been able to resolve the income issue.

I mean, are you in a place where you have stable income and you have the ability to start tackling these in setting up the repayment plans that are okay great and after your you know essential bills are paid, how much do you have left over before any minimum payments to any of these debtors before I'd say we haven't really calculated and now there's a budget that really handles a budget portion. I know there's access you need to calculate again very good swell.

The good news is with the student loans of 45,000. Given that those are federal loans. They'll be a lot of flexible income-based repayment options that will allow you to take advantage of low payments. Hopefully that will fit into your budget to get you back on track. I like the idea with the ones that are already past due and collection leave those there and focus on the ones that are still current. I'd probably for the credit cards. In particular, try look at getting them in the credit counseling programs are friends of Christian credit counselors could help you enroll them in debt management that would lower the interest rates which right now your part probably play paying the delinquent rate, which is even higher than the prevailing rate and so everything you send us your probably causing the balance to still go higher, not lower if you could get these even the close ones enrolled in credit counseling we get those interest rates down. Now you're sending up monthly payment, probably around 3% of the outstanding balances and you're actually making some progress. Because of those lower interest rates. The key for your credit score is to try to get these either back in good standing with you as an on-time payer through repayment plan that fits in your budget that you can sustain and or settled in full.

In some cases, if you can accrue a little bit of savings and then come in with especially the smaller accounts and listen I give you $0.50 on the dollar. If you'll take that as payment in full. Get that in writing. Make that payment and then on your credit scores can be on your credit report it'll show a zero balance.

It will probably be noted settled in full. You'll get a 1099. Therefore the difference because that's taxable to you and then that will get you to a place where as that gets further and further in the past. Your credit report is going your credit scores can repair itself. Because now you're back as an on-time payer with any active accounts so I would say through a combination of income-based repayment with the student loans settlement where you have the ability to come in and pay something off it $0.50 on the dollar and perhaps through credit counseling with any of the active accounts or the closed accounts that you can enroll in debt management. I think that's really the key to getting you back to a place where at least all the new information it's being reported as positive, meaning you're an on-time payer and then the credit score will take care of itself over time. Does that make sense Eric handle because account sterilized like the rope and I that's what what what were trying to do with some of the open ones Internet negotiator settlement price for them. That's how it got. Some of them paid off. Good good yeah make sure you get that confirmation in writing and check the credit report to make sure it reflects a zero balance but with any that you don't have the ability to settle in full. That's right. Look at debt management get on a regular monthly payment with a lower interesting connection make some progress. Our friends, a Christian credit counselors.org Jason could be a great help to you there hey, thanks for your call today to Cleveland, Ohio Caroline, thank you for your patience. Credit.

Thank you for taking my call. I am 28 now and I want to hug. I like you half to go and I painful. I can't think of what might be to contribute 27,500 a year and a family and that when every kayak hackney when I click on them and then also at the same time, I had an IV and the IME law, then God when I was putting my knee but now I'm Creek I'm contributing $500 a month to may need 5500 a.m. I put my IME life. Then God had to guess I am when I'm think if I will fill out my creation. Why am I doing the right thing by having evening to contribute to a 403B and not collected might have a lot what is your age.

Caroline and 48 right now.

40 yeah so I like that plan. I like the Roth IRA a lot. It's after-tax dollars, but it's tax-free growth slows that's invested with a long time horizon you got plenty of time on your side that's going to grow tax-free. The benefit is all that compounding and growth. Although it's not seen a lot of that right now and in today's markets but you know over the next 20 years. We should, you can get all that growth coming out tax-free and if you don't need it, there's no required minimums that you have to take out with a Roth so I like that a lot. If you get to the max contribution for the Roth and you still have more money that you can put away is typically you know the 6000 a year or 7000 if you're over age 50 is typically not enough for folks to be able to save 10 to 15% toward retirement to have enough to supplement Social Security to maintain their lifestyle. So when you max that out. If you have extra then absolutely had to fall back to the 43B through salary deferral. But prioritizing the Roth IRA makes a lot of sense to me. I okay Carol, I would appreciate your call today.

God bless you folks for we had to this break. Otherwise you would get slides open 800-525-7000.

By the way moneywise is listenership part of our moneywise community you'd like to support the ministry would certainly be grateful you can head to our website@moneywise.org just click the give button you'll find an address to give through the mail by check over the phone toll-free with our team or online through a secure form. It's all there moneywise.org just click here. Thanks in advance to take a quick break and we come back much more as we apply God's wisdom to your financial decision. This is moneywise live joining us today moneywise live on the west euros. Take your calls and questions today. 800-525-7000 back to the phone you had to Cleveland shooting. Thank you for going to read early. My husband will work for another three years. I suggested that we put our assets.

I don't fall 3D 401(k) money market my pension and quit trying putting everything in quite caught, click delete think that about $2000 that I get my question what the advantage of putting five big and we happened across everything we can yeah yeah I mean the reason you would use the trust for certain assets is because you want to avoid probate.

Perhaps want to keep everything private, not a part of the public record that you want to be able to control those assets prior to your death if you're incapacitated through a successor trustee that would manage the assets according to the trust documents you wanted to distribute the assets at certain triggering events. Even, you know. But beyond your life so you know if certain errors set at certain ages or under certain conditions wanted to receive the the assets and those would be the primary reasons you would do that you typically don't see that with retirement accounts because they have beneficiary designations on them so they would you pass outside of probate.

Anyway, based on the named beneficiaries, but those would be the. The main reasons for a trust in you know whatever action is triggered by the trust would happen outside of the will.

So, it ignores with the will says and that price point. You mentioned between 1500 and 2000 would be the other about right. So I think the question is just why are you doing it and what is it you're trying to accomplish and that's what I would want to make sure you understand before you go ahead with this. To be sure it's necessary. What will delineate where my my money goes to an beneficiary that all that without putting something in a trust. Yes, it can absolutely it will go through the probate process, but it happens every day and there would be executor named in that person would work through the probate court. According to the will to distribute the assets. But again, if somebody's looking for to be private or happen outside of the courts or wants to greater control, even beyond their life or prior to their death. That's typically were trust would come in, but if if none of those really applied a basic will. That's current and up-to-date, plus beneficiaries that are current and up-to-date should take care of it. Well, it will not that much money when it tooth out that's current yeah I know it's probably around $500 for a will wears a trust could be 1500 to 2000. So that's behind is certainly more cost-effective lot simpler. You have to retitle anything the name of the trust. The key is just to make sure you understand what's the best interim instrument based on what you're trying to accomplish and that is certainly not everybody needs a trust will will do just fine for most folks, you may want to revisit that or get a second opinion just to try to understand why he was suggesting that because I'm not hearing anything that you're describing as to why you would need one, but Judy would appreciate you checking in with establishing Chicago to reset your neck so the program go ahead. She made it 80, how can that there but I think I hear your question Teresa. You folks and in prison can receive money.

There's no law that prevents a prisoner from receiving money money that's legally there's what you would typically want to do and you want to check with an attorney on this is give someone power of attorney. That way they won't have to rely on prison mailed to manage a bank account you would of course choose a POA that's trustworthy for this or an attorney if she can afford it but usually just of the power of attorney of a trusted individual and then pick a bank for the account. That's convenient for whomever is the power of attorney, and that have that power of attorney put the money into her prison commissary account and in that way it can be accessed or it could stay there so that would be kinda generally the way that that would go for money that's succumbing to her from from this from the pension. Does that make sense now my my understanding is that she has elected to go directly to her commissary and then she will send it out okay and that that can K20 sure yeah minutes. It's her money and she's got in the Council he could come right in there as if she's got that set up to to go directly in there and then she could transfer it out anywhere she likes again having a power of attorney that could on the outside handle things that need to be done on her behalf would actually be helpful. Okay on the power of attorney for her command. Now we want to set up a trust trust for the grantee and I said yeah very good so I would visit with an estate attorney if you don't have one, you could contact a certified kingdom advisor there in Chicago and asked for a referral. They'd all have a godly estate planning attorney that they work with to just go to moneywise.org click find a CK with that person could make sure the wills up-to-date. The POA any other instruments. Plus, if the trust is needed could establish that as well.

Teresa, thanks for your call today.

All the best as you navigate that. Let's head to Tennessee autumn. Thank you for calling Karen ahead and turn In pain and hit enter and and back pain and not account for him.

I can come look in and out that he account for him and I know nothing about.com. My 401(k) at work and just let them handle that but I will hurt you pay Charles Schwab yesterday. I think that it Charles Schwab solid looking into that are maybe somewhere like Vanguard and I didn't know what your thoughts where I don't know what alkylation trading there and I don't know, another one that fit their point fix one contract fee and let your thoughts on a 17-year-old having and managing stock part just like in each will find account yeah I rather see him in. It is not as exciting, necessarily, but I'd rather see him just start to learn the power of discipline. Systematic investing into a broadly diversified portfolio. The challenges when you're starting out it's exciting to do the research and pick a company and perhaps if it's a smaller amount of money and that's what he wants to do just to get you know some of the excitement of actually owning the company and being able to track it and follow it and see how it does go that's fine in the early days but it's not a good longer-term strategy because they are to be too highly concentrated in one company meeting his success or failure in investing is been going to be dependent on one or two companies that may have about quarter be out-of-favor and you know that's just can result in a lot of volatility whereas the wisdom of diversification owning a broad cross-section of the market through like an index fund were you own 500 of the biggest companies in the country through the S&P 500. It's, you know, not necessarily as exciting in terms of following those companies in the news and you're doing research at all that but it's a better way for him to establish the habit and discipline of investing. I like Schwab a lot I would use the Schwab intelligent portfolios.

You can also look at acorns. They have a great custodial Robo advisor for minors any of those were he just starts making systematic contributions to a low-cost indexed approach to investing would be a great start for him to learn the power of compounding. So again it's the Schwab intelligent portfolios or acorns. I think either of those would be great. Thanks for your call today will be right back a moneywise lives with us today.

I moneywise live in her final signal broadcast today. Take your calls and questions 800-525-7000 is the number to call. I mentioned a recent study that came out by TIAA. The Institute for personal finance that showed that young adults in the US are sadly lacking in basic money management skills. It showed that most 18 to 25-year-olds in the survey didn't have a working familiarity with financial concepts like budgeting, saving insurance, investing, and think about what this means thousands of young adults are going off to college or joining the workforce today without knowing how to manage their money or how to avoid overspending or even how to build a solid financial future for themselves. You know when I was a kid learning to balance a checkbook and pay bills on time were part of financial training for teenagers.

I remember my dad given me the check register and use the balance of form.

I thought it was fun, but today things look a lot different right now we have online banking and instant digital transactions and it's so easy to use credit transfer money that many young people today live day-to-day. Without a plan until they need a bailout for mom or dad. Well, the fact that this generation rarely handles cash also means they no longer have a physical connection to their money when they don't actually see their money coming and going. They may not realize when it's gone well that can lead to a disconnect and unintentional overspending. Even a lifetime of debt. Not to mention a lack of motivation to save for the future. So if you're a GNC, maybe just starting out. Here are a few must have financial skills that I'd like for you to think about today.

The first skill is actually an attitude knowing that God is the owner of everything and that you are a manager of his resources well that changes your perspective on money and material things, the number two financial skill you need is planning learn how to make and follow a spending plan well moneywise app can really help with that dreams are good but a dream without a plan is just a wish.

So the next skill is employment start at the bottom. If you have to work hard and develop your resume earning can really build your financial confidence. The next skill is to open and manage a bank account, then make sure you develop habits of giving and saving from every paycheck build that right in upfront. If you do it well, you'll benefit from that. The rest of your life. Learn about credit and how to build good credit while avoiding debt moneywise.org is some great articles on this topic as well learn about investing investing includes not only the investment types, but risk and return a sound mind investing.org could be a great resource. There finally admit you don't know it all and learn where to go for solid financial advice as it says in Proverbs 1522 without counsel plans fail, but with many advisers they succeed, you know now more than ever, young adults need financial skills to succeed in the real world and my challenge to our bright and hopeful GNC generation is to pursue a firm faith and financial literacy. By the way, if you're a parent or grandparent.

I hope you'll make it a priority to encourage your young adults in their biblical financial journey. It will pay huge dividends hard. Let's go back to the phones here with her final callers of today 800-525-7000.

Let's see Orlando and Sebring. You go right ahead.

Good afternoon Mr. Rob where either you just wanted to thank you for your so big. Listen to Larry prepare for years and you and you now after him and really appreciate you guys ministry.

You guys have mentored me in this area. Finances so I just wanted to ministry will think you have encouragement Orlando is also on the soundness of your teaching as a minister of the amendment passed over 20 years and so encouraging and just helping me direction in life.

As part finances on from calling today will grow quickly about a minimum of 50 criminal, time, and I guess seven or eight years.

I don't know coming may work longer than that, but I have I have four children and now well-known something messes down to our last one. She's 19 and in college and what, although we are now starting disabled my wife and I working remember actually save for retirement. I'm currently working on my second month of savings.

According to your counsel is been real hard with before you know you never eat but I just wanted your take on what you were me, I don't think you know I want what we do, what would you like as far as retirement planning for retirement other than planning to have a house completely paid off and again I'm saving him into my my second mom from building up like the same effect as sure. Very good. Yet, here's what I would do Orlando you know, first of all, don't feel bad about where you're at, listen to the fact that you're on track to have your home paid off. That's incredible. You need to be really excited about that proud of yourself for what you're doing there, living within your means put near a child through college is best you can and you being able to pay down debt than even being completely debt-free. That's good. I really help down the road as you find yourself in a position where you try to keep your expenses as low as possible as you fund your retirement. You still got time on your side. Two men were talking, you know, a decade or more before you perhaps are going to consider retiring and then even then you have the ability to work part time or continue to work as the Lord leads, knowing that as a believer.

We look at retirement different are calling doesn't ever expire. The Lord may have different things for us in different seasons, but you know even once you retire, then you still get a decades long need for this money and so we take a long view and I think that's the key. I would also say that right now the most important thing is just to limit your lifestyles best you can and just be systematic and what you can put away and if you save diligently over the next 10 years or more. You'll be surprised at how much of a nest egg.

You have that could supplement Social Security with a very modest lifestyle that includes no debt, which would allow you to live very well on a just a little bit. So what I would say to you is let's start somewhere.

Not looking back. But looking forward to both of you have company-sponsored retirement plans at work. Orlando, you know, okay I am going to ministry about to begin a Spanish work as an extension of our church that we are 10 AM through 1099 or are you getting a W-2. I believe W-2 okay and will you have access to a teacher's retirement or no. I can look into it.

I would check that and just see what's available to you through your employer and just see if you how many years you need to have of service to be able to qualify if you can at all for the teachers retirement that would be one option. The second option is to fund every year, a Roth IRA, you can put in over age 57,000 this year and that changes each year. I would start a Roth IRA for each of you. You could do that at the Schwab intelligent portfolios are better meant to be a what's called a Robo advisor which makes it very simple, you just answer some questions and make your systematic contributions every month and it will automatically invested on a very low cost basis and I can start growing for you. So between the retirement at work.

If you have one. I'd look into that and the Roth IRA trying to put in up to his 7000 per person. You and your wife per year. You know that'll be.

If you do that every year for the next 10 years get you going in the right direction to be able to save what you can for a nest egg that will supplement Social Security so I check into those two things. First, I love that your building that emergency fund that's great, let's get that to three months expenses and then let's put everything forward toward retirement. At that point and try to save his best you can. Thanks for your call Orlando.

God bless you my friend. Let's finish today in Lehigh acres Florida rate your next of the program. Go ahead and take my call.

Sure, okay, just a question I have about two children have a daughter 13 and a son 12 and we have all become in my wife about the $10,000 for each of them that we want to start putting toward your future and would've traditional savings account be the correct place to put it for them at this time. The moment being that are so young. How would you like this to be earmarked for college, or do you want more widely available for their use. I would say probably more widely available at this time.

Yet maybe had to get later on at school to see what direction you want to do about schooling. I don't know what to really lock it into some kind of a college plan or okay have other decisions and in the next question is the time horizon on it.

Do you want them to be able to use it in the next five years or would you see this being money that you would allow them to access beyond five years all know that they built five years is more like a long-term you know you savings for them something that will be probably maybe even in their mid-20s are not hitting one of the two early okay great. Yes, you don't want a custodial account because that would become their asset at the age of majority, which is a team in Florida and they have complete control over it.

So I would open to joint accounts for you and you and your wife's name and I earmark one for each of your children, your saw your daughter and your son. I see you know you know which is which and then make the contributions either one time or systematically, over time, and then just invest those I would look at the same thing I mentioned in the previous caller either the Schwab intelligent portfolios or betterment.

Either of those would a light open to joint accounts you automatically make your contributions, you could set up an automatic transfer from your checking or savings or you can make one time contributions. It would get invested based on the age and the time horizon of the kids and to be very low cost very broadly diversified because it's using index funds which mirror the broad market indexes so you just capture the broad moves of the market over the next five and 10 years and I think that would really set them up for something that would be really meaningful down the road so check that out. The Schwab intelligent portfolios or betterment. I think that will give you what you're looking for. Thanks for your call right folks. Thank you for being along with us today we so appreciated you only look to God's word.

We want to live within our means and avoid that set long-term goals and have some margin and finally give generously. We do that when you put ourselves in a position to experience God's best. Thanks so much to Gabby T.

Amy Rios Ryan Hansen Jim Henry today. Thank you for being here moneywise.

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