Faith & Finance

It All Starts With CommunicationCommunication is crucial for estate planning in blended families, highlighting the importance of being open, transparent, and truthful. While this may be difficult at times, it's essential for bringing issues to the forefront, suggesting that effective communication is the foundation for addressing the unique challenges blended families face in estate planning.How do blended families with different goals work it out?When spouses in blended families have different goals, they should prioritize seeking understanding and compromise. Seek first to understand and then to be understood, emphasizing the value of asking questions like "tell me more about that" to gain insight into the other person's perspective. When disagreements become particularly challenging, involve a third party for neutral counsel. This approach aims to help spouses find common ground, or at least agree to respect and support their separate goals, fostering unity and cooperation.The Importance Of Meeting The Needs Of Both FamiliesIt’s important to have at least some common goals between the two families, emphasizing that it's ideal for all parties to be pulling in the same direction. There may be separate goals but it’s crucial that these not be in opposition to each other. The aim is for the families to work together on shared goals, and if there are individual goals, both spouses should be supportive of them. This approach facilitates a process where peace can be made with having separate goals, ensuring that efforts are collaborative rather than divisive.What are some of the issues or sticking points that blended families commonly run into?One major issue is the division of attention and resources among children from previous relationships versus those from the current relationship. This can lead to feelings of being overlooked or undervalued, particularly among older children who may fear being left out or disinherited. Additionally, blended families often face challenges stemming from different levels of wealth, assets, and experiences brought into the union by each partner. These differences can create conflicts over how to integrate and manage such varied financial backgrounds and expectations within the family.The goal of estate planning in blended families is to achieve unity and honor God in the process. It’s important to address the unique challenges blended families face, such as managing different goals between spouses, ensuring all children feel valued, and integrating various financial backgrounds. The aim is to find a balance that meets the needs of both families involved, fostering an environment where all members can agree and make peace with their financial decisions and estate planning, ultimately honoring their shared values and beliefs.On Today’s Program, Rob Answers Listener Questions:My mom’s estate is split into two pieces and we're currently in probate as we navigate the details of the distribution of all her assets. However, my question is that I’m getting a lot of paperwork during this process and the lawyer handling the probate process is asking me to forfeit my right to an audit of her estate. Is that normal? Do lawyers do this a lot? I just didn’t want to sign something before knowing what I was signing. Do I need to hire an attorney to help me translate all of the lawyer talk I’m running into?On my Roth 401(k), do I have to pay taxes on it? I’m about to retire in a few months and just want to make sure I don’t draw funds too early. I’m wondering if I should pay off our mortgage. There is a $70,000 balance left on it with a 3% interest rate but I still have several years before I want to retire so I just wanted to know if that was the best thing to do with that money. Is Social Security Disability considered taxable and is also considered income? Resources Mentioned:Wise Women Managing Money: Expert Advice on Debt, Wealth, Budgeting, and More by Valerie Neff Hogan, JD and Miriam NeffRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Albert Einstein is credited with saying that the power of compounding is the eighth wonder of the world, and “He who understands it, earns it; he who doesn’t, pays it. And Ron Blue shares a story for us about a couple who apparently understood this very well.“I received a call from my 30-something-year old son awhile back. He’d been married for some time and he is a teacher and his wife Ann was a teacher. And his question to me was, “Dad,” he said, “You know, Ann and I are just teachers and we're just never going to have enough, probably, to ever retire.So I said, well, Tim, tell me a little bit about your financial situation. And what he said to me was truly amazing! They have never ever used credit card debt. They didn't have any car loans. They had a home mortgage and they had a savings account and their savings account was maybe 30-thousand. I don't remember the exact amount. And the reason they had a savings account I think is significant. It’s that when they both worked, they saved one of the salaries. They wanted to save one of the salaries prior to having children. Not only did they save that money, but it taught them to live on one salary. And so they had some money in savings that, quite frankly, for a 30 year old couple, put them in phenomenal financial shape.”How Did They Do It? Well, it’s not rocket science and you don’t need to be Einstein to appreciate compound earnings, which is what this is all about. Ron later remarked that “Tim shared with me that they were contributing to their 403b plan the maximum amount and that was another four or $5000 a year. So they were not spending everything that was coming in and they were saving for the future. And I said to him, Tim, do you realize that if you continue to save $1000 or $2000 or $3000 a year, what that's going to grow into over the next 35 or 40 years when you plan on retiring?I said my guess is that it'll grow to probably at least a million or even more dollars. And when I looked at the compounding charts, I realized that just saving $1000 a year out of his salary, or out of their salary and putting it towards retirement, he was going to have enough to retire on. However, just like Tim and Ann, you have to make that commitment. They had chosen a lifestyle that was relatively small compared to what the world said that he could afford.Another example is my wife’s Aunt. She died without marrying and when she died, she left a considerable amount of money. She had stayed in one home over her whole working life. She never even owned a car because she could walk to work. The reason she had enough for retirement was that she hadn't spent it on consumptive items early on.”What To Do If You’re Worrying About Saving For Retirement? Whether or not you have enough for retirement is really not a function of your income as much as it is a function of the expenses. If you can live below your income and if you can avoid spending consumptively, then given enough time, you are probably going to have enough for retirement. And that starts with a spending plan that keeps your spending less than your income.On Today’s Program, Rob Answers Listener Questions:A little over two years ago, my husband passed away and my CPA said that if nothing changes with my finances anytime soon, I won’t have to worry about filing taxes anymore. I initially heard that and wanted to see if you could provide some confirmation about whether or not that could be true. I have a question about capital gains on the sale of a home. Am I correct in figuring out the basis that you take what you received on the sale of the home and you subtract what you paid initially and that forms a basic part of the basis for how you calculate the capital gains tax? Currently I’m in the Florida Drop System for retirement since I’m a government worker. I’ve got about $180,000 set aside in a credit union for savings and was earning 3.5% interest on a variable rate, but now it’s earning close to 2.75%. I didn’t know if it would be a good idea to move that money or some of that money to somewhere different to see if I could earn more money during this time. What are your thoughts? I’m hearing some new teaching recently that tells me that we’re not under the law anymore and therefore aren’t required to tithe anymore. According to the New Testament, they are saying we are called to give according to what we have decided in our heart. What do you think? Resources Mentioned:BankrateRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Financial Impact of College EducationGoing to college is a financial decision, second only to buying a house. More specifically, it’s an investment decision. Will it pay off? Perhaps the most important factor determining that is whether you graduate with a degree. Fail to do that, and any money you spend, or borrow, for college, will likely be money down the drain in terms of future earnings.The good news is that data just released by the Federal Reserve Bank of New York shows that earning a college degree is still financially worthwhile—generally speaking. The data shows that recent college grads working full time earn about $25,000 a year more than those with only a high school diploma.The catch is, they have to be working. That means majors chosen by college grads must give them skills that managers are willing to pay for.Another study by the American Educational Research Journal shows that engineering and computer science degrees give the highest rate of return on dollars spent for education. They’re followed by business, health, math, and science majors.So for example, those with a bachelor degree in engineering can expect to start out at around $80,000 a year, and significantly higher with a master’s degree. The highest paid engineers working on aircraft, satellites, bridges and other infrastructure can earn several hundred thousand dollars a year. One catch, though, you have to be really good at math.Meanwhile, computer systems managers make, on average, a bit over $140,000, but can earn significantly more than that depending on the level of complexity and responsibility with the job.Managing Student Loan DebtThe study also showed that education, humanities and arts majors ranked the lowest in return on investment. Now, to be clear, we’re not telling you to avoid those fields if that’s where your passion lies. But college is expensive, and it’s important to know the earning potential of any major you’re considering, especially if you’re borrowing to attend college.U.S. Census Bureau data shows a median salary of around $53,000 for degrees in Family and Consumer Services and Fine Arts … and $55,000 for degrees in Elementary education and Social work. If that’s where you’re headed, you’ll need to watch your expenses like a hawk, and borrow as little as possible.Now consider that according to the National Education Association, teachers with student loan debt owe an average of $56,000. We’ll take that with a grain of salt because the NEA exists to advocate for higher teacher salaries, but if that figure is even close to accurate, it shows the difficulty many teachers have in paying back their student loans—when they only make that much in a year.Remember, college is an investment, so always consider how long it will take to pay back your student loans on the salary you can expect to get with your major. Obviously, the less you borrow, the faster that will be. But also, the higher the salary, the faster you’ll get out of the red and into the black.Perhaps the ultimate example of that is the emergency room physician. That person will leave medical school with an average of $215,000 in student loan debt, according to the Education Data Initiative. That sounds like an awful lot, and it is, but consider that the median salary of an emergency room physician is now $350,000 a year. A doctor will almost certainly pay off student loan debt before a teacher.But again, we’re not telling you not to become a teacher or social worker if you feel that’s your Godly calling. Just do everything you can to minimize your student loan debt. That’s good advice regardless of the major you choose.Remember Proverbs 22:7— just 15 words that you need to memorize: “The rich rules over the poor, and the borrower is the slave of the lender.”Practical Advice for Future StudentsSo, take as many Advanced Placement classes as possible. Get a part time job in high school and college and put your earnings toward tuition. But perhaps the most productive use of your time will be applying for scholarships.Set up a scholarship application assembly line and apply for dozens of them. It will pay off, but it takes time and effort. The greatest gift you can give yourself is to graduate from college with little or no debt. That way, you’ll hit the ground running when you take on the world as a new grad.On Today’s Program, Rob Answers Listener Questions:I have an investment property that I’m planning to sell, but at the same time after I sell that, I was planning on paying off a mortgage at my primary residence. I was wondering if there are any tax advantages to doing that? I’m 71 and still working. I’m a widow and have my husband’s pension and my own social security that I’m drawing from so I’m in a good place with my income. I’m trying to play catch-up on my retirement to prepare for that and I max out my 401(k) and I’m doing fine there. Does it make sense if I take $7,000 out of savings to lump sum into an IRA before April 15th so that it counts for 2023? If I do that, I can do another $7,000 for 2024 but I’m worried about whether I will be taxed again on that since I’ve already been taxed on that money as earned income. My husband and I are believers and are in our mid 60’s. We’re dual citizens of the U.S. and Canada and half of our working income was gained in each country where we own and operate a farm and have for the past 40 years. There is no successor in view right now and we want to continue to farm as long as our health allows. But we have no retirement accounts or plans for retirement. However, we are completely debt-free. So we're not sure if we should start with an accountant or a lawyer or another place but we were wondering if there is a Certified Kingdom Advisor that would be familiar with agriculture, qualified to practice in both the U.S. and Canada for retirement planning?Resources Mentioned:An Uncommon Guide to Retirement: Finding God's Purpose for the Next Season of Life by Jeff HaanenRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Historical Context and Modern ImplicationsAfter crossing the Jordan into the promised land, the Israelites fought the battle of Jericho. Joshua was their leader, and the Lord gave them the victory. In Joshua 24, the general reminds his people of God’s faithfulness to them at Jericho and through their history.  He ends by making that memorable statement of faith: “As for me and my household, we will serve the Lord.”As Christians in a non-Christian culture, we are also called to take a stand. We can either choose to serve the gods of this world, or the Lord. It’s not easy for us, and it wasn’t easy for the Israelites. There were temptations everywhere to serve other Gods.  That’s why Joshua reminds the people over and over, “Do not be afraid; do not be discouraged. Be strong and courageous.”In the New Testament, Paul echoes Joshua’s call to the Israelites in 1 Corinthians 16:13: “Be on your guard; stand firm in the faith; be courageous; be strong.” It takes courage, determination, and trust in the Lord to withstand the worldly desires and impulses that assault us every day.Facing Today's False GodsSo, what are some of the false gods we deal with today? Larry Burkett used to say that a false god is “anything that detours our commitment to God”. So, anything you focus on, depend on, or put your trust in other than the Lord is a false god, or an idol. Let’s look at a few of today’s idols:Financial Security can become an idol. You might be depending on your retirement plans, savings accounts, and investment income to see you through, but financial security won’t save you in the end.Another false god is government provision. Do you expect welfare programs, federal relief checks, or government handouts to meet your needs? These are only temporary fixes. God is your ultimate provider. For some folks, power is what they trust. Personal status, reputation, and financial influence might seem desirable, but these don’t have the power to bring peace.Another idol you’ll see everywhere is the idea of personal autonomy.  “I did it my way” seems empowering.  “Follow your own desires” looks appealing, and “I deserve this” feels right, but all of these represent a world view that puts you on the throne of your life.  Selfishness and pride are sins that leave no room for the Lord.It’s possible to be strong in a worldly way, either physically, or by sheer human determination. But I don’t think that’s what Joshua meant when he challenged his people to “be strong and courageous”. True strength is defined by its source, and when the Lord is your source, your strength is from him. Our faith in God is our trust in him to be our strength in times of need.As it says in Psalm 20, God’s people can “rise up and stand firm”, because “we trust in the name of the Lord our God.” But what if you don’t choose to serve the Lord?Well, the consequences of trusting in false gods are severe. Throughout God’s word you’ll find warnings against bowing down to idols. Israel suffered God’s judgment many times for their unfaithfulness. On the other hand, there are many benefits to trusting the Lord instead of false gods.A Call To Choose ChristOne benefit is a closer walk with Christ. Following biblical principles in your financial choices means you’re listening closely to what God wants for you, reading His Word and trusting Christ to lead you. When you invite God into this important area of your life…you’ll begin to understand 1 Timothy 6, “godliness with contentment is great gain.”Another benefit that comes with trusting God in your finances is peace.  When your financial choices are made “in Christ”, the result is peace, because God is in control.  As it says in Romans 8:6, “The mind governed by the flesh is death, but the mind governed by the Spirit is life and peace.”While worldly desires and attitudes will lead people astray, pursuing God’s way in your financial life can bring spiritual growth. 1 Peter 2:1-3 gives this advice: “Like newborn babies, crave pure spiritual milk, so that by it you may grow up in your salvation, now that you have tasted that the Lord is good.”Another benefit to trusting God in your financial life is the blessing of generosity. When we give…willingly and generously…we are acknowledging God’s lordship over everything. 1 Chronicles 29:14 says, “…For everything is from you, and we only give you what we have received from you.”  You can make your financial decisions according to God’s principles…or according to secular, worldly ideas. Like Joshua, you must “choose for yourself this day whom you will serve.” We pray that you will choose to serve Christ, and trust the Lord with everything.On Today’s Program, Rob Answers Listener Questions:I rolled over my previous annuity to a F&G annuity about two years ago. The way it was presented to me was that I was supposed to make some money and sadly it hasn’t grown at all. So I didn’t know whether to try to roll it into something else or what. I also have the ability to take out $20,000 a year without any penalties and we’ve got some house repairs that we wanted to take care of before I retired. Would it be wise to do that? I’m 70 and my wife is 69 and we want to do a reverse mortgage but don’t know where to start. We probably owe between 35-40% of the home’s value left on the mortgage. We also have an investment in a local credit union where we’re getting 5% every 11 to 13 months. Also, do you have any suggestions for how to maintain the lowest prices for home and car insurance since all of those prices seem to be going up? Resources Mentioned:BankrateMovement MortgageRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

It's appropriate during this Easter season to reflect on the big picture of our Christian faith.  Sometimes we just have our noses to the grindstone, so to speak, and we can lose sight of why we’re here and how much God has done for us!You know, whether you’re in a season of prosperity, or facing hardships, you have to remember that God is still on the throne and that your circumstances haven’t caught Him by surprise. His plan for the redemption of humankind is still on track.The Significance of Jesus’ SacrificeOf course, on Easter Sunday, Christians everywhere will rejoice in the resurrection of Christ…who conquered death and made a way to restore our relationship with God. But sometimes in that celebration … we might forget why Jesus had to die in the first place. The fact is, humankind is completely corrupted by sin. The rebellion that stains our hearts says, “I can choose for myself what is right and wrong, I don’t need God.” God’s Word confirms our sin nature.Job 15:16 declares that man is "abominable and corrupt," one who "drinks injustice like water". 1 Kings 8:46 quotes Solomon saying, "there is no one who does not sin". The apostle John warns in 1 John 1:8 that "If we say we have no sin, we deceive ourselves". God’s Word in both the Old and New Testaments makes it very clear that sin has a price. God’s Law requires that those who break it be punished and that the punishment should be terrifying … an eternity in Hell.Hebrews 9:22 says, “... without the shedding of blood there is no forgiveness.” And Romans 6:23, “For the wages of sin is death, but the free gift of God is eternal life in Christ Jesus our Lord.”Sin separates us from a holy God, so mankind needed someone sinless to do what we couldn’t do for ourselves – pay the price, which is death. In his love and mercy, God met our need by sending his only son to die in our place. Jesus, who is God made Man— took our sins upon Himself and carried them to the cross. His blood paid for our sins.The good news in this familiar story is that it doesn’t end with a cross and a grave.Gratitude, Joy & GenerosityOn Good Friday, we commemorate the love of God in sending His son to pay for our sin.  We mourn with his followers who knelt at the foot of the cross in grief for their loss. And then there’s Easter.  On Easter we celebrate the victory of the resurrection! Jesus rose from the dead, conquering death once and for all. In John 11:25 Jesus said, “I am the resurrection and the life. The one who believes in me will live, even though they die; and whoever lives by believing in me will never die.” So, we thank God for our present circumstances – good or bad – and His continued provision. But we must also have a deep sense of gratitude for God’s sacrificial love.  We can also live in joyful hope of eternity because of His resurrection. Thanks to Jesus, our debt is stamped “paid in full,” and our relationship with the Lord is restored forever.As you contemplate the amazing love of God today, ask yourself this: how can you put your gratitude for Christ’s sacrifice into action?I believe one of the best ways is by keeping your eyes and ears open for opportunities to help those around you who may be suffering.  Ask God to show you those in your church and the wider community who might need your help.God’s Word repeatedly tells us to help others in need. Look at Galatians 6:2, “Bear one another's burdens, and so fulfill the law of Christ.”It can be difficult to be generous when your finances seem uncertain, but we know that giving breaks the power of money over us, so it’s the perfect antidote for our financial fears and anxieties. Giving is also a source of joy, because of the promise of heaven.  Jesus experienced joy in his sacrifice, and we can experience it in ours. Hebrews 12:2 says, “For the joy set before him he endured the cross, scorning its shame, and sat down at the right hand of the throne of God.”Christians should act differently than non-believers … and now is the perfect time to show just how different we can be … as we reflect God’s love in a broken and confused world. Matthew 5:16 says, “In the same way, let your light shine before others, that they may see your good deeds and glorify your Father in heaven.”So, with gratitude, joy, and generosity … that’s how we should respond during this Easter season and beyond. On Today’s Program, Rob Answers Listener Questions:I have several investment properties in Florida but since the rates are so high right now, I haven’t been able to invest in others at the moment. Currently, I have money in high-yield savings accounts but are there any other investment vehicles you recommend while we wait for rates to go down? I heard about this program recently that allows you to consolidate debt while paying 0% interest. I’m 70-years-old and have about $25,000 in debt and would like to find out more information about how to get started. I’ve been working at a company for 4 years now and have been investing about $300 a month into their stock program. However, recently they split their stocks 3 to 1 so I’m wondering if I should invest more or wait to see what the market does.  I’ve been looking at the faith-based alternatives in investing and from my research, it seems like a lot of them are on the more expensive side in terms of fees, sales charge, and expense ratios. I also notice that some aren’t as diversified as some products that are offered by companies like Charles Schwab or Vanguard. I’d love to get your perspective on this. I left an employer about 5 years ago and had a pension left in there and right now I have an IRA. Recently, my wife and I have been talking about whether we should pull the pension and put it in the IRA to earn more money or to cash it out and pay off some debts. Thoughts?I made some poor financial decisions when I was young and would suggest that if anyone is making major financial decisions to always seek wise counsel as it couldn’t hurt to have wise people involved in your decision-making.Resources Mentioned:Christian Credit CounselorsFind a Certified Kingdom Advisor (CKA)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

What should folks consider when making this decision?People should consider the following when deciding when to take Social Security benefits:Understanding that if they take benefits before full retirement age, they will be subject to a reductionDelaying past full retirement age means receiving an annual increase of 8% called a delayed retirement creditCash flow needs if retiring and replacing incomePaying down debtIncreasing charitable givingHealth and longevity in the family (impacting how long benefits may need to last)Legacy goals and inheritance, as Social Security benefits can't typically be passed on while portfolio assets can beIncome taxes, as Social Security could be subject to tax depending on other incomeOn Today’s Program, Rob Answers Listener Questions:Should I take $15,000 from my 401k to pay for home repairs like a furnace and AC replacement?Can I deduct the value of my own labor for maintenance and repairs on a rental property that I own? If I’ve invested in companies in the past who do things that I don’t agree with, am I ethically responsible for the things they do with that money?If I have a long term care plan for myself but not my husband, would that mean that Medicaid can take away all of our land and properties if he needed to be placed in a nursing home?Resources Mentioned:Christian Credit CounselorsNerdwalletFind a Certified Kingdom Advisor (CKA)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

When it comes to work ethic, there’s nobody we like better–aside from Jesus, of course–than the woman described in Proverbs 31. We don’t know her name, but her actions and attitudes are worth studying and imitating…no matter what kind of work you do.A Biblical Work Ethic From Proverbs 31First, a note about Proverbs.  It’s part of the “wisdom literature” found in the Old Testament. We refer to Proverbs a lot, since there are many nuggets of financial truth there. Proverbs 31 is the final chapter, and the description of the “woman of noble character” is written as a poem, with each line beginning with a different letter of the Hebrew alphabet.Proverbs 31:10 introduces the “woman of noble character” who is “worth more than rubies”, because she sets the standard for trustworthiness and generosity towards her husband and all those around her.  She’s also a top-notch businesswoman.Here are some of the characteristics that make the Proverbs 31 woman such a great example of a biblical work ethic.First, she “works with eager hands”. She has a positive attitude towards work, knowing that diligence can produce many benefits.Next, verse 15 tells us, “She gets up while it is still night; she provides food for her family…” The Bible makes it clear that providing for your family is a primary responsibility. She takes it very seriously.The Proverbs 31 woman is also a careful entrepreneur. In verse 16 “She considers a field and buys it…with the fruit of her hands she plants a vineyard.”  So, part of the biblical work ethic involves expertise – gaining useful skills and using them for the benefit of your family and community.       In verse 17, “She sets about her work vigorously; her arms are strong for her tasks”. Living and working well requires persistence and determination.  You don’t reach your goals just sitting around watching YouTube!       Proverbs 31 also offers us a picture of generosity in verse 20: “She opens her arms to the poor”. This woman of character is so successful in her work…that she is able to be generous with her surplus.  Are you working just for yourself, or so you can help others also?   Next, “…she speaks with wisdom…” in verse 26. A person of noble character uses their experience and authority to teach others.  To put it another way, this woman’s work ethic is the “water that raises all boats”, because everyone benefits from her industry.     It comes as no surprise in verse 27 that “she does not eat the bread of idleness”.  It’s pretty clear that a biblical work ethic means NOT being lazy!Well, that’s an impossibly impressive resume, but I think the most important quality of a woman of noble character is that she follows and honors the Lord. Verse 30: “Charm is deceitful, and beauty is vain, but a woman who fears the Lord is to be praised”.  She serves God first, and all her success springs from this priority.The Importance Of RestYou might look at this biblical portrait of a godly worker and wonder how she does it all.  She’s running a farm, marketing her products, teaching, mentoring, and taking care of a household at the same time.  I think we have to understand that this is a portrait of virtue at work…not a blueprint for what you have to do next week.Another point I’d like to make here is about “rest”. It might not look like the Proverbs 31 woman got much of that…but her success points to the fact that she did know when to go and when to stop.God does call us to work – for His Kingdom, for our families, and for the community – with the same commitment we see in the Proverbs 31 woman.  We work to pay the bills, to give, to save, and to invest, as she did.  It’s part of how God has made us. But work isn’t all there is.  We need to rest sometimes, too.Perhaps you find things moving too fast in your life.  Working late nights and weekends might seem necessary, but burning the candle at both ends is ultimately unproductive.  You’ll find that exhaustion leaves no energy for the most important things –time with the Lord and relationships with others. You don’t have to go full throttle all the time.  But if you are feeling overwhelmed, be comforted by the words of Jesus in Matthew 11:28: “Come to me, all you who are weary and burdened, and I will give you rest.”We can learn a lot from the Proverbs 31 woman about what it means to live with personal and financial integrity. I encourage you to read Proverbs 31 today and consider how you can apply a biblical work ethic to your life and work.On Today’s Program, Rob Answers Listener Questions:What are the differences between prepaid cards and credit cards? How does that compare to a secured credit card? I’ve come into about $20,000 recently and I’m trying to figure out how to best invest it. What are your suggestions? I’m currently on Federal Workers Comp and I’m wondering if I’ll be able to draw social security when that time comes if I’m still on Workers Comp. I have a friend who has not paid her taxes for five years. How would that affect her children’s inheritance and what steps can she take to kind of get out of that situation?Can I pay off my remaining $125,000 mortgage in 3-7 years by moving it to a home equity line of credit? I was told that I could deposit his paycheck into the HELOC each month, use the HELOC to pay bills, and pay off the mortgage much faster that way.Resources Mentioned:Bankrate.comNerdwallet.comFind a Certified Kingdom Advisor (CKA)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Disappointment is inevitable, but discouragement is a choice.People love to look into the future. We all have hopes, and dreams, and expectations about what we want our life to be. So, we make plans. Plans to save, serve, build a family, work, travel, learn, grow…you name it. Planning is part of what it takes to make our dreams come true. And there’s nothing wrong with planning. Planning is an important part of being a good steward of whatever God has entrusted to you.But here's the problem. Our plans don’t always succeed. Dreams fail. Expectations go unmet. And then, disappointment happens…maybe more than we want to admit.Perhaps you invested your savings…but now inflation is killing your returns.Or you worked hard to start a business, but it still isn’t making a profit.You planned for your marriage to last…only to experience an expensive divorce.Maybe you’ve been working towards that promotion…but someone else got the job.Or, you planned to have a big nest egg when you retire…but health issues have reduced your savings.And then there’s always the disappointment of finding your adult child living in your basement when you thought they were going to be financially independent.How Do You Handle the Disappointments and Unmet Expectations You Face?Financial disappointments can cause some people to shake their fist at God and lose faith.  Others might become discouraged, depressed or apathetic. Sometimes, disappointment leads to broken relationships. Stress and anxiety are common responses when our plans fail. In fact, the more important we think something is, the more upset we are when our expectations aren’t met.It’s not sinful to feel disappointed. But your reaction to disappointments can become sin if you’re not careful.  According to God’s word, discouragement, anger, unforgiveness, bitterness, and fear are all sinful attitudes. Ephesians 4:31 warns about them: “Let all bitterness and wrath and anger and clamor and slander be put away from you.”So, you can respond to disappointment with discouragement, anger, fear, or apathy…or you can take a more positive approach…realizing that unmet expectations are often God’s way of leading you in a new direction. Just look at how many disappointed people there are in the Bible, and see how God worked in their lives.Like Sarah and Hannah, who couldn’t have children. Or Joseph, whose brothers sold him into slavery. Or imagine how Jesus must have felt when Judas betrayed him. But the Lord had amazing plans for these unmet expectations: Sarah and Hannah ultimately had children who changed the world. Joseph saved his people. Jesus saved us all.Here’s another thought: Your response to the disappointments in your own life can be a powerful witness to those around you. Maybe this isn’t the way you thought your life would turn out…but God can use your unmet expectations…for your good and his glory.A Godly Approach To Financial DisappointmentsWhen life doesn’t go your way, it’s common to look for someone to blame.  Instead, ask God to help you forgive the people who’ve hurt you. Begin to pray for the strength to live through your difficult circumstances. In addition, recognize that it may be time to let go of your expectations, and ask God to show you his plans. People and circumstances are unreliable, but Hebrews 13:8 reminds us that Jesus is the same yesterday and today and forever. The Lord is always loving, faithful, and just.The bottom line? God never fails. You can trust him, even in the midst of your deepest disappointments, when big expectations come to nothing, and people let you down.  God will make a way for you every time.  It might not be what you expect, but it will be good. Hold on to what’s true, from Romans 8:28: we know that in all things God works for the good of those who love him, who have been called according to his purpose.The late Charles Stanley, a faithful preacher of God’s truth for many years, said this about disappointment: “Disappointment is inevitable. But to become discouraged, there's a choice I make. God would never discourage me. He would always point me to himself to trust him.”On Today’s Program, Rob Answers Listener Questions:I am 75 and my husband is 76 and we are retired. Recently we went to one of the marketplaces for our supplemental health insurance coverage and while there, the agent recommended that we get this hospital benefit that would pay extra money should we ever be hospitalized. It sounded good at first but now as I’m second guessing it, I’m not sure if it was timely or wise. Any thoughts? I’m calling on behalf of my brother who is in about $40,000 in credit card debt with about a 30% interest rate. He makes about $900 a week and his minimum payments are about $1300 a month. He’s looked at bankruptcy as well as national debt relief programs, do you have any ideas on how he can realistically pay down this debt? I’m 65 years old and financially secure. I want to do something for my grandson who will be two years old in August. However, I want this to be as hands-free as possible since my daughter isn’t the most astute when it comes to taxes and I don’t know how much longer I’ll be around. What’s the best investment tool I can put the money in to accomplish this goal? If I have a mortgage with a small loan and I make extra payments toward it throughout the year, does that really make that much of a difference? What is the difference between a living trust and a will and which is better? Resources Mentioned:Christian Credit CounselorsFind a Certified Kingdom Advisor (CKA)FaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

“Trust in the Lord with all your heart, and do not lean on your own understanding. In all your ways acknowledge him, and he will make straight your paths.” - Proverbs 3:5-6Why are people so worried about the economy these days?Part of the issue is concern about a number of factors, including the upcoming US election, high inflation, high interest rates, and various geopolitical issues like what's happening with China/Taiwan, Ukraine, and the Middle East.How are people dealing with this uncertainty?Uncertainty for many people leads to fear, especially for those on a fixed budget or struggling financially.Fear can cause people to become either indecisive with money or take ill-advised financial risks by forgetting whose money they are stewarding.How do you help people who are struggling with economic uncertainty? Get back to the basics and focus on the things that are within our control. Pray and ask God for insight on ways you can trust Him more in your finances.Look to Scripture for guidance, such as Deuteronomy 8 which talks about God's purpose for us in times of crisis, and 1 Corinthians 7:7 which discusses God's role in providing and our responsibility to obey his commands regarding finances.On a practical level: tightening budgets, reducing spending, paying down debt, and building emergency funds during uncertain times helps tremendously as well.What about someone who might not be thinking about the future at all?There could be an opposite issue - if their investments are doing well and markets have recovered, there could be some greed or pride setting in where they think "I did this."Stay balanced, remain committed to your financial plan, and most of all, stay humble.Deuteronomy 8:18 reminds us that it is God who gives the power to get wealth, not ourselves.What resources would you recommend for those who want to trust God more in their finances during times of economic uncertainty? Compass has partnered with YouVersion to provide a series of short, topical Reading Plans to help you learn, apply, and multiply what the Bible says about money and possessions.On Today’s Program, Rob Answers Listener Questions:Because of the devaluation of the dollar with the BRICS situation right now and the implications that may have for our 401(k) accounts, what can I invest in or look at to protect us from losing our money? Should we invest in gold or other things so that we don’t lose anything?What resources can you point me towards if I’d like to lead a small group at my church on the subject of managing finances God’s way?What are the differences between a TSP and a Roth IRA? Are there differences in how you can use the money or when you can take it out?My husband recently passed away and he was always a very good steward of our finances. I don’t have a house payment or any other bills, but I have a very large sum of money that has come to me after his death. Everything else we had prior to his death has been invested and I don’t know if I should be investing in annuities or take that money and split it up. What should I do with it?Resources Mentioned:Building Your Finances God’s Way: A Financial Discipleship Study (Compass)Wise Women Managing Money: Expert Advice on Debt, Wealth, Budgeting, and More by Miriam Neff and Valerie Neff Hogan, JD, CFP®Find a Certified Kingdom AdvisorFaithFi App Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

CONSIDERING THE FUTURE POST-HIGH SCHOOLRob discusses the pressure high school seniors and their parents face concerning post-secondary education and emphasizes the importance of aligning educational choices with financial realities. He stresses the goal of avoiding college debt through early savings, exploring scholarships, and considering alternatives to a four-year college, such as technical schools, online courses, and military service.Financial planning for education should begin early, incorporating discussions about affordability and scholarships.Exploring educational alternatives can provide viable paths that align with career goals and financial constraints.Completing the FAFSA is essential for all college-bound students to assess eligibility for financial aid, regardless of expected qualification. PREPARING FOR THE COLLEGE TRANSITIONTransitioning to college is a significant step for students and parents alike. Rob advises parents to discuss with their children the costs and values of education, the importance of academic success, available school resources, and the necessity of budgeting and managing credit responsibly. He also highlights the importance of instilling moral and financial values as students step into greater independence.Understanding the cost-value ratio of education and encouraging part-time employment can foster responsibility.Academic success is closely tied to career opportunities, emphasizing the importance of educational achievements.Discussing budgeting and credit card use is crucial to prevent financial missteps during college years. NAVIGATING POST-COLLEGE TRANSITIONS AND BOOMERANG KIDSRob touches on the challenges young adults face in transitioning to the workforce and the reality of "boomerang kids" who return home due to economic pressures. He cites statistics indicating an increase in multigenerational households and suggests ways to make this arrangement work, such as sharing household expenses, setting clear expectations, and encouraging financial independence.Letting go is a necessary part of parenting, allowing children to grow into independent adults.Trusting in God's care for their children can ease parents' concerns during these transitions, fostering faith and resilience in the face of change. ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:I'm interested in making additional payments to my mortgage and wondering if making small extra payments monthly has the same impact as making a larger yearly principal-only payment.I'm looking to invest $20,000 for my grandson's future and want something hands-off and tax-efficient, considering mutual funds or indexes.I'm 69 years old with about $300,000 in a 401(k) and am considering an annuity with a lifetime benefit. I'm also concerned about long-term care options as I have no children and am divorced.I'm 72, still working, and have a Thrift Savings Plan. I'm wondering if I'm required to take the Required Minimum Distribution (RMD) while I'm still employed. RESOURCES MENTIONED:Principal Reduction CalculatorFind a Certified Kingdom AdvisorSchwab Intelligent PortfoliosNational Christian Foundation Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach. Remember, you can call in to ask your questions every workday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God’s resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.