More Than Money Episode 28 | 3 Must-Know Financial Tools | Guest: Robby Scholes
Feb 3, 2021
30:50
It is time to learn about some important financial tools that are out there. In this episode, Art talks with financial expert, Robby Scholes, about three must-know financial tools. It is fun and informative conversation. Plus, Art answers questions about debt, retirement, and Social Security.
Listener question answered:
Question 1: Should I pay off debt or save for retirement first? Also, should I take from my retirement to pay off debt?
Question 2: I am considering taking Social Security early at age 62. Can I also work full time?
Notes:
3 Reasons not to take money from your retirement:
1. 10% penalty
2. Ordinary income taxes
3. Opportunity cost (compounding)
Episode Sponsor:
Most churches struggle to get people to give. SecureGive has created a system that helps churches increase giving so their ministry is funded to reach their community. SecureGive helps churches increase giving in 3 ways: software that makes giving easy, a custom growth strategy, and ongoing stewardship resources. They stand out by offering a real ministry partnership, the most cost-effective solution with the lowest processing rates, and the most comprehensive giving platform available. Use the code 'RAINER20' to get 20% off your first year! Learn more here: https://www.securegive.com/
Listener question answered:
Question 1: Should I pay off debt or save for retirement first? Also, should I take from my retirement to pay off debt?
Question 2: I am considering taking Social Security early at age 62. Can I also work full time?
Notes:
3 Reasons not to take money from your retirement:
1. 10% penalty
2. Ordinary income taxes
3. Opportunity cost (compounding)
Episode Sponsor:
Most churches struggle to get people to give. SecureGive has created a system that helps churches increase giving so their ministry is funded to reach their community. SecureGive helps churches increase giving in 3 ways: software that makes giving easy, a custom growth strategy, and ongoing stewardship resources. They stand out by offering a real ministry partnership, the most cost-effective solution with the lowest processing rates, and the most comprehensive giving platform available. Use the code 'RAINER20' to get 20% off your first year! Learn more here: https://www.securegive.com/