June 19, 2025 • 42 mins
The news from the Middle East can feel overwhelming, but our hope in Christ calls us to act. And one of our ministry partners can help you do just that. On the next Faith & Finance Live, May-Lee Melki from Heart for Lebanon will join Rob West to share how you can help protect young women and girls facing crisis. Then Rob will answer your questions on different financial topics.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
S1 (00:08):
And I heard the voice of the Lord saying, whom
shall I send, and who will go for us? Then
I said, here I am, send me. Isaiah six eight. Hi,
I'm Rob West. The news from the Middle East can
feel overwhelming, but our hope in Christ calls us to act. Today,
May Lee Mielke from Hertford, Lebanon, joins us to share
how you can help protect young women and girls facing crisis.
(00:32):
And then it's on to your calls at 800, 525 7000.
That's 800, 500, 25, 7000. This is faith and finance live.
Biblical wisdom for your financial journey. Well, you've probably heard
us say it before. We love shining a light on
the incredible work of our trusted ministry partners. It's one
(00:54):
of the great joys of this program, celebrating how God
is moving around the world and inviting you to join
in Kingdom work that's changing lives. Well, one partner we're
especially honored to support is Hartford, Lebanon. This year, their
mission is focused on rescuing some of the most vulnerable
young girls and women facing the harsh realities of early marriage, trafficking,
(01:17):
child labor, and even violence. Morley Melki, strategic engagement manager
with Hartford Lebanon, is joining us now after just returning
from Lebanon to share more. And what a privilege to
have you back with us today, Morley.
S2 (01:30):
Thanks so much for having me, Rob. It's always a
joy to share about the work that God is doing
in Lebanon.
S1 (01:35):
Well, I can't wait to talk about it today. And Morley,
having grown up in Lebanon, I know this ministry is
deeply personal for you. I'd love for you to begin
by sharing why reaching our goal to support these young
women through Hartford, Lebanon is so vital. And what kind
of real on the ground impact it can make in
their lives?
S2 (01:54):
Absolutely, Rob. Right now the urgency is at its highest
that it's ever been. The Lebanon today is different than
the Lebanon that I grew up in, and that's because
of the immense tragedies and compounded crises that the country
has gone through. And the people group that has suffered
the most are girls ages 13 to 21, with no
(02:16):
legal recourse or anyone to protect them unless they have
some male figure in their family to vouch for them.
So many bad decisions are being made on their behalf,
and that's why we're here today, Rob. Because I truly
believe that these girls will change the country, the Middle East,
but most importantly, the church and its kingdom impact in
(02:38):
that part of the world.
S1 (02:39):
Mainly. Very specifically, I know you've identified 500 at risk
young women who need our help so far. Through the
partnership of listeners to this program, we've been able to
get about half of that number into your ministry there
at Hartford, Lebanon. But time is running short. We have
just till the end of the month as we try
(03:00):
to close out this opportunity. We're looking for support for
these other 250 girls and young women. That's just under $10,000. Now,
these are some pretty concrete numbers. So it's clear this
has been thoughtfully planned. I'd love for you, though, to
just break this down a bit more for us.
S2 (03:18):
I'd be more than happy to. You know, every gift
of $114 helps introduce three young women to Jesus as
they begin to understand what their value is in him.
You will be preventing things like early child marriage, child labour,
gender based violence and exploitation, and every investment provides safe spaces, mentorship,
(03:40):
Christian based counseling, educational and empowering tools that are all
based on biblical character traits and life skills, advocacy and
social awareness. We also offer vocational and skill training, but
most importantly, we offer spiritual guidance and Christ filled communities
which are much needed in Lebanon today. We share the
(04:01):
gospel and the love of Christ with these vulnerable young souls,
and many have accepted Christ in their land today where
they are. But that also has consequences to their own
personal lives. Rob. But today, you can open the door
to heart for Lebanon's ministry for three girls who are
at risk for early marriage, labor and exploitation. But knowing
(04:22):
we still have a few hundred more to go, just
as you mentioned, but we hope you will be as
generous as you can today by investing now at faithfully.
Or you can simply text the word faith. That's the
word faith to the number 986, five, six. And we
will immediately return a link to your mobile device where
(04:44):
you can give securely online.
S1 (04:46):
Well, I'm so excited about this opportunity. You know, on
this program, our heart's desire is that we use money
as a tool to accomplish God's purposes, and one of
those purposes is to give generously in the name of
Jesus to solve some of the world's greatest problems. And
I can't think of one more on the heart of
God than this. Partner with us to reach these additional
(05:07):
250 young girls in the name of Jesus, to give
them the confidence to stand boldly around their identity in Christ.
Faithfully is the website. Faithfully. Back with more after this.
Stay with us. Thanks for joining us today on Faith
(05:34):
and Finance Live. I'm Rob West with me today, Melissa
mielke from heart for Lebanon. She's joining us today to
talk about an incredible opportunity we have for you. And
that is to partner with us to reach. We're looking
for 250 150 more young women to be reached in
the name of Jesus. These are some of the most
(05:55):
vulnerable young girls and women facing the harsh realities of
early marriage, trafficking, child labour and violence in the Middle
East and Hartford, Lebanon, is reaching them with the hope
that only Jesus can provide with a safe place, with counseling,
with community to support these young girls so they can
(06:16):
then stand boldly with their identity in Christ. Our goal
500 young women reached by June 30th. We're halfway there,
so we're looking for you to come alongside us and
heart for Lebanon between now and the end of the
month to reach these additional 250 young women. $114 helps
(06:38):
to introduce three women to Jesus as they understand their
value to him, and in doing so, in giving, you'll
be helping to prevent things like early marriage and labor
and exploitation. It's just under $10,000 that we're looking for
to reach these additional 250 girls. You can help us
at Faith. Dot com slash that's faith. Philly.com. Now, I'd
(07:05):
love to talk a bit more about this. And I
know you've just returned from Lebanon, but tell our listeners
the support plays in helping you and the team at Hartford,
Lebanon reach these vulnerable girls.
S2 (07:18):
You know, simply put, Rob, we just cannot do this
without the faithful prayers and financial support of God's people
all around the world. We realize it takes an invisible
army for us to be able to witness that one
life changed on the field. But practically speaking, if we
don't have the funds to reach these girls, they are
at an increased risk every day of not being a
(07:39):
part of our ministry and therefore remaining in real danger
of things like sex trafficking, gender based violence, and early
childhood marriage.
S1 (07:48):
Yeah, there's no question about it. And that's why we're
so delighted to partner with you. And from a practical sense,
we want you to know that this is a ministry
that we have high confidence in, not only because we
know the leaders of this organization personally, but they have
incredible financial integrity from places like Charity Navigator and Ministry
Watch and SFA, and we praise God for that. But mainly,
(08:12):
it's hard for us to imagine here in America that
young girls in Lebanon are not just valued like they
should be. And I know Hoda Melki, the wife of
Camille Melki and one of Hartford Lebanon's co-founders, has spent
her entire life in Lebanon. And I'd love for you,
our listeners, to listen as she talks about how important
(08:35):
it is that these girls realize how precious they are
to Jesus.
S3 (08:40):
The mentality in general in the Middle East, more so
in the Islamic The communities is they look down at
the girls. They're not important. They are confident that there's
nothing good comes out of them. They are nothing. They
are good only for making babies. And I have so
many women and girls that I met, and I get
to know personally and heart for Lebanon that tells you
(09:02):
how important for us at heart for Lebanon to educate
and train and love and and show them, show the
girls how precious they are.
S1 (09:14):
Wow. That's incredible. Uh maylee. I'd love for you to
walk our listeners through how heart for Lebanon is meeting
these girls needs, and specifically the transformation you're seeing as
a result of the support being given?
S2 (09:28):
Yeah. You know, Rob, just simply put, we're offering education,
counseling and to church communities that Hartford, Lebanon has planted
to plug them in and to grow in their walk
with Christ. And that's what you're doing today, is helping
them be exposed to education and Education in Christian counseling
and church communities. But really it is at its core
introducing them to their Lord and their Savior. You know, um,
(09:52):
I was in Lebanon two weeks ago. Rob and, um,
one of our teachers came up to me and she said,
Iman accepted Jesus as our Lord and Savior. And we
sat down and I wanted to know more. I said,
how did this happen? And I know Iman, she's 12
years old. She comes from a muslim background and a very,
very difficult refugee community. And she shared how Iman was
(10:13):
forced to work at the age of 12, before and
after she's in our center in school and only to
make $20 the entire month and all that. $20 goes
to fund her dad's cigarettes and her brother's candy and
stuff like that. Very abusive, um, family situation that she
lives in. But yet Iman, after one of the chapel sessions,
(10:34):
decided to ask more about who this Jesus person is. And, um,
with tears, she said, I want to accept him as
my Lord and Savior. I know he's going to change
my heart from within. I know maybe immediately my mom
and dad won't change my circumstances, but he will change
who I am and I know that he will be
with me despite the difficult circumstances. And that's what you're
(10:55):
doing today. You're giving a man the opportunity to keep
going to school, to receive this ongoing Christian counseling, to
help her be plugged into this church community, that eventually
we pray and we hope her entire family will be
a part of. Um, there's nothing greater than eternal hope
and restoring girl's image in who they are and their
(11:16):
dignity in Jesus Christ.
S1 (11:18):
Wow. And that hope that only comes in Jesus changes everything.
We certainly know that, uh, my heart for Lebanon is
carrying out this vital kingdom work in a deeply challenging place.
And here at Faith and finance, we want to make
sure that all of these young girls are able to
be a part of this ministry that God is using
(11:38):
to transform lives, and lives, and it's the generosity of
our faithful listeners and supporters that makes it all possible.
So I'd love for you just to take a moment.
And with this goal before us, we're on our way
to reaching 500 young women and girls. Half of those
have already been funded. We're looking for an additional 250
(11:59):
girls to be reached. It's less than $10,000, folks. But specifically,
how can our listeners take part in this mission?
S2 (12:06):
First and foremost, prayer. Prayer is the most important thing,
you know. We prayed for Nazar for years. Um, she
is a mom who was forced into early child marriage
at an early age, thought about taking her own life,
and we prayed for her. And now, um, she has
accepted Jesus as her Lord and Savior. She attends one
of our vulnerable women Bible studies, and her daughter is
(12:27):
actually one of those young girls that we are wanting
to target today. Um, with your help. So yes, prayer
is the most important thing, but also, yes, financial support
is needed, as we still have about 250 of those
500 girls that we want to help that are standing
at the doors of Hartford, Lebanon's ministry. Only $114 opens
(12:49):
the door to Hartford, Lebanon's Ministry of Education, Counseling and
Spiritual Development for three girls who are at an increased
risk of early marriage, child labor, gender based violence and exploitation.
Perhaps you're listening to us today and you say, I
can do more. Um, perhaps you can do $950 that
would reach 25 of the girls that God has put
(13:11):
on our heart of these vulnerable girls, who the Lord
is calling us, leading us to help. But whatever God
calls you to do today, we are so grateful. I
want you to know that our entire team is so
grateful for you. We're so grateful for you even considering
partnering and praying with us. And this partnership with faith
and finance means a lot to the girls in Lebanon today.
S1 (13:32):
Well, it's a true privilege mainly to partner with Hartford,
Lebanon in such meaningful kingdom work. I'm so thankful for
your time today. You clearly have a passion and a
heart for this ministry. God is using you, Millie, and
it's an honor to walk alongside you in that work.
S2 (13:49):
Thank you so much, Rob. It's always a blessing.
S1 (13:51):
All right. That's Millie Mielke, strategic engagement manager with Hertford, Lebanon. Remember, folks,
$114 brings heart for Lebanon's Ministry of Education, Counseling and
Spiritual Development to three more at risk girls in Lebanon,
250 still to reach. Go to faith that's faithful. Or
(14:14):
text the word faith to 98656. That's faith to 98656.
Back with your calls after this. Stay with us.
S4 (14:31):
The opinions offered during this program represent the personal or
professional opinions of the participants are given for informational purposes only.
Any information provided is not intended to replace advice from
a financial, medical, legal or other professional who understands your
specific situation.
S1 (14:54):
Great to have you with us today on Faith and finance.
Live I'm Rob West. I can't wait to take your
calls and questions today. We've got lines open. This is
the time to call. They will fill up. That is
those lines. So go ahead and pick up the phone
call right now 800 525 7000. That's 800 525 7000.
We're going to be tackling whatever is on your mind today.
(15:17):
So we'd love to be sure to address your specific
question no matter what that is living, giving, owing or
growing God's money. Uh, any of those and more call
right now. 800 525 7000. Boy, what a treat to
have Melly Melki here. If you would prayerfully consider helping
us close out this goal the end of June 11th days,
(15:40):
might as well get it done today. We'd certainly be grateful.
207 young women and girls to go in terms of
reaching them with the gospel of Jesus Christ already have
293 that we've been able to fund to reach $114
introduces three at risk girls to Jesus through heart for Lebanon,
(16:01):
which helps to prevent early marriage, child labor and violence.
You know, they are so vulnerable there in that part
of the world for this specifically. And partnering with us
gives you an opportunity to provide them with safety and
the gospel. Faith. Faith is how you do that. Thanks
(16:22):
in advance. Before we head to the phones today. And
by the way, lines are open 800 525 7000. Uh,
want to tackle, uh, what's in the news today? A
lot going on, of course, but certainly the fed meeting
is top of mind as it relates to the economy
and the markets. The Federal Reserve announced it will keep
interest rates unchanged despite public pressure from President Trump for
(16:45):
a rate cut. Trump argues high rates hinder growth, while
Fed Chairman Powell says economic uncertainty, especially surrounding the tariffs,
warrants caution. This decision keeps borrowing expensive credit cards remain
above 20%. Auto loans are now averaging 7.3% for new cars, 11%
(17:05):
for used ones, and 30 year mortgage rates hover near 6.9%.
While these rates frustrate borrowers, they are rewarding savers, many
of whom are still earning 4% or higher in high
yielding accounts. In short, borrowing remains challenging and financing large
purchases remains expensive, but retirees and diligent savers are benefiting
(17:28):
from these elevated returns. Um, and so it is something that, uh,
folks are taking advantage of. Experts suggest avoiding, of course,
high interest debt. And when possible, shop around for savings
accounts offering the best rates. Now, while interest rate headlines
can spark anxiety, let me just remind you of what
(17:49):
we read in Philippians four six that we're to bring
our fears and our concerns to God. You know, financial challenges, weather,
rising loan payments or delayed home buying dreams are opportunities
to trust God and His provision. High rates may limit spending,
but can also teach us contentment. Contentment, which we read
about in first Timothy six. Also discipline. You know, God
(18:11):
isn't bound by economic cycles. He invites us to steward wisely,
to give generously, and to really rest in the assurance
that our treasure is in him, not the market. I
hope that's an encouragement to you today. All right, let's
dive into your phone calls. Again, that number to call (800)Â 525-7000.
You can call right now. Let's go to Anne in Chicago. Hi, Anne.
(18:34):
How can I help you?
S5 (18:36):
Hi. Bless you.
S6 (18:38):
Thank you. Ma'am. Um.
S5 (18:40):
Had that, uh, Social security, um, um, benefit that was
withheld for so long and then only paid a little bit.
I don't know, but it's called the windfall elimination tax.
I think.
S6 (18:56):
So.
S1 (18:56):
Yes. Were you a.
S6 (18:57):
Teacher?
S5 (18:58):
Yes.
S1 (18:59):
Yes. Um hum.
S5 (19:00):
Um, they sent me a check, and I think you
have the amount right there. And then they just this
month increased my monthly benefit, $700 a month, which with
that the monthly benefit, they do take out taxes before
and Medicare before they send it to me, right.
S1 (19:23):
Yes. That's right.
S5 (19:25):
Yeah. okay. But what about the big sum that I got,
the 11,000 that I got.
S6 (19:32):
To.
S5 (19:33):
Make up all those years that the with. What was it?
Windfall elimination.
S1 (19:39):
Yeah. Uh, so you're talking about that. So you received
a lump sum, uh, for the portion that was going
back to January 1st of last year. Is that right?
S5 (19:54):
Going back years. Years.
S6 (19:57):
Okay. Years and years.
S1 (20:00):
Yeah. Well, I think, uh, I think the way it
worked is and, you know, there's a lot of moving
pieces to this legislation, but that, uh, you know, that
was covering past months of benefits delayed by the windfall elimination.
And so that lump sum may be taxable. Um, you
would need to check with your CPA on that. I
(20:21):
believe you can spread the impact out. But I'm not
entirely sure as to how. You know, with this new
legislation and things are changing all the time. I would
hate to comment on this specifically because I am and
not certain on that. I know, um, you know, we've
we've only heard from a few folks that have started
(20:42):
receiving this, um, but I believe they are taxable and
would have to be reported. Now the IRS looks at
something called your provisional income, and that's your adjusted gross income,
plus any tax exempt interest plus half of your Social
Security benefits. And then if that goes over certain thresholds,
that determines what percent of your, um, Social Security is taxable. But, um,
(21:09):
I would say in general it's probably going to be taxable,
but not all of it. And um, I would check
with your CPA in your situation on specifically how much.
Because the last thing you'd want would be to be
surprised by that. so I wish I had a more
definitive answer, but I'd love for you to get a
professional opinion on that. Okay.
S5 (21:28):
Thank you so much. God bless.
S1 (21:30):
All right. You too, and all the best to you.
Thanks for being on the program. Hey, we've got some
lines open. We're going to take a quick break and
then back with more of your questions. 805 two, five 7000.
That's 800 525 7000. Call right now. This is Faith
in finance live here on Moody Radio. We'll be right back.
(21:57):
I'm so glad you're with us today on Faith in
finance live. I'm Rob West. We're taking your calls and
questions today on anything financial. If you have a question,
something you're wrestling with in your financial life, go ahead
and call right now. We've got some lines open. You'll
get right through the number 800 525 7000. Let's go
back to the phones. Akron, Ohio. Hi, Constance. Go ahead.
S7 (22:19):
Oh, hi. Yes, I have an idea, but it's also
an annuity. I'm wondering if there are any benefits to
having it into an annuity. Because I thought I was
going to change it from an IRA into an annuity.
But he says that it's in both, so I don't know.
And are there any benefits in that?
S1 (22:41):
Yeah. Not everyone needs to move their IRA into an annuity.
Here's the benefits of doing that and why someone might
consider it. First of all, guaranteed income so you can
convert your IRA into a reliable monthly check for life.
And that's what a lot of people are looking for.
(23:02):
Second would be protection from market losses. That is the
stock market and the bond market. So with a fixed
or a fixed indexed annuity, by putting your IRA in there,
your principal then is shielded from market downturns, which you
would not have if you had an IRA outside of
an annuity. And then the third would be what you
might call longevity insurance. So some annuities offer lifetime payouts
(23:27):
even if your IRA balance runs out. So what are
the downsides? Well, you've got redundant tax benefits. So an
IRA is already growing tax deferred. So putting it into
an annuity doesn't add any extra tax advantage. The other
downsides are the fees that come with higher fees than
traditional IRAs, especially the variable annuities. And then less flexibility
(23:51):
because you usually can't access the full balance like you
can with an IRA if you needed to without penalties.
And once you annuitize it, if you convert it to
an income stream, you certainly can't access the full balance.
So that would be the the reasons that folks wouldn't
do it. Bottom line is, if you're looking for predictable
(24:13):
income or you have a fear of outliving your money,
or you want to lock in some security, that's where
the IRA annuity comes in. But if you really prefer
control or flexibility, growth potential, the ability to access your
money in larger sums, then you'd want to keep your
IRA outside of an annuity and then just invest it
(24:34):
directly into mutual funds or ETFs, that type of thing.
Does that make sense?
S7 (24:40):
Yes it does. Mhm. But um okay. Well that act
as um growth in my annual income. Do I have
to declare that on my income tax for 2025.
S1 (24:53):
Uh, if you take it out when the money comes
out it is taxable. It's not it's tax deferred while
it's inside the IRA or the IRA annuity. But when
it comes out, then it's taxable. Now, uh, you still
have to take required minimums with an IRA that's in
an annuity starting at 73 or 75 if you were
(25:13):
born in 1960 or later. but how they're handled depends
on how the annuity is set up. If you haven't
turned the annuity into income yet, therefore it's still growing.
Then you'll take the required minimums based on the account value,
just like an IRA. You would have to withdraw separately
to meet the minimum if it's already paying out. If
(25:34):
you've done what's called annuitization and you've converted it to
a lifetime income stream, then those payments usually count toward
your Im as long as you meet the minimum required amount.
But not all annuities automatically satisfy those RMD rules, so
it's important to work with your advisor or insurance company. Um,
(25:55):
you know, as that money, uh, you know, in order
to make sure you're at least reaching that minimum and
it's taxed as ordinary income, just like regular withdrawals from
an IRA. It went in tax deferred, meaning you didn't
pay tax on it. So now the IRS wants its
share when you pull it out.
S7 (26:14):
All right. Thank you, sir.
S1 (26:16):
Okay. Constance, thanks for your call today. Lord bless you.
800 525 7000. We've got some lines open today. Go
ahead and call right now. You can get right through.
We've got several lines open. In fact, 800 525 7000
to Florida. Hi, Nick. Go ahead.
S8 (26:31):
Thank you for taking my call. I have a monster
box of silver eagles that are that I bought in
2015 and, you know, never opened. You know, the boxes
factory banded never been circulated. And I'm wondering if I'm
better off just letting that stuff sit and collect dust.
Or would I be better off, you know, selling it,
(26:53):
taking the money and investing it in either putting it
in a higher yield like these 4% or so, uh,
savings accounts or investing it, opening a personal investment account, like.
Investing the money.
S1 (27:11):
Yeah, yeah. Uh, let me ask you, what is this, uh,
the total value of it, if you know, and I
realize it's just been sitting there, so you may not
have priced it lately, but how does that fit into
your overall total investable assets? What percent?
S8 (27:27):
Are total. Well, I already have a 401 K. Um,
and I guess if I had to value it, I
think I'm probably around. It's probably doubled since I bought it.
S1 (27:38):
Yeah, I.
S8 (27:39):
Think I paid about 8 or 9 grand and but
investable I mean, like I said, I, I already have
a 401 K uh, and um, there's really only other
money I have that I'm going to invest. That's it.
S1 (27:55):
Yeah, yeah. Very good. Um, well, you know, I think
bottom line is, yeah, it has done well. I think
I'm just looking it up in 2015. You probably bought
it when silver was about $15 an ounce. You know,
it's sitting here at about 36, $37. So that's pretty
good in terms of the overall return. Um, you know,
(28:17):
you're looking at about 130, 135%. Um, you know, when
we stack that up against the S&P 500, you know,
it's done a little better. I mean, quite a bit better, actually.
S&P 500 if you include dividends. I'm just looking for
that same period about ten years 2015 to 2025 is
up about 230%. So it's outperformed silver in both growth
(28:42):
and total return, especially with when you include more the
dividends and silver is more volatile. Uh it has sharp,
you know, swings uh and longer stagnation periods. And it
doesn't have any income. So overall, I like, you know,
a properly diversified stock and bond portfolio better. And bottom
line is if you would have had that same money
(29:03):
in the S&P 500 or, you know, some broad market index,
you would have performed better for sure. When you put
the total return, you know, in place. Um, is it
bad to have some precious metals? I prefer gold to silver. Um, but,
you know, it sounds like this is a relatively small
portion of your total investable assets when you factor in
your 401 K. So I'd be okay with that. I'd say,
(29:26):
you know, I like a 5% allocation to precious metals. Again,
my preference is gold. But you'd take the physical gold
kind of like you did with these, uh, you know,
silver eagles and keep it for life and pass it down.
And then if you wanted to do another 5%, I'd
use probably an exchange traded fund. But at the end
of the day, I think, you know, you would probably
(29:46):
do better long term in stocks and bonds. And so
if if you're not looking to keep this and pass
it down, I'd probably sell it and and get that
money invested.
S8 (29:58):
Okay. And then as far as doing that, doing the latter,
I can get on your website and find one of
the Kingdom advisors and to help me with that.
S1 (30:08):
You know, not really, because most of them don't. You know,
you really need a reputable gold or precious metal dealer.
Somebody who could get that sold for you. They could.
The CS could help you redeploy any of your investments. Yeah.
S8 (30:22):
No, I meant after.
S1 (30:23):
Oh. Got it. Yes, sir. Absolutely. Just go to.com, click
find a professional. And I'd interview 2 or 3 CS
there in Florida. And you can find the one that's
the best fit for sure. Hey Nick thanks for your call, sir.
God bless you. We appreciate you being on the program. Well,
the lines are filling up. I still have a few open.
Do you have a question? Call right now. 800 525 7000.
(30:44):
We'll be right back. Great to have you with us
today on Faith and finance live here on Moody Radio.
Here in our final segment today, we'll get to as
many calls as we can. Let's go right back to
the phones. Old Hickory, Tennessee is where Michael is. Go
ahead sir.
S9 (31:04):
Yeah. Hello, Rob. Thank you. Uh, Rob, I just wanted
to know what you would do in my situation. I am, uh,
73 years old. Been retired since 2017. I'm a widower,
I when I retired, I rolled my 401 into an IRA.
The money is currently in fidelity money market interest is
(31:28):
about 4%. Uh, I know the interest rates are going
to be going down over time. Um, I do have
an emergency fund with about 50 K in it. Um,
I don't want to put it in stock market, and
I definitely do not want to put it in. Uh. Uh,
(31:49):
I'm sorry, I forgot what you call it now.
S1 (31:53):
The annuity or bonds or annuity?
S9 (31:56):
Yeah. The annuity. I don't want to go there. So
I just wondered what would Rob do if with all
of your knowledge. If he were in the same position. Listen. Thanks.
S1 (32:08):
Yeah, yeah. Very good. What did you say? And maybe
you didn't. Michael, if you're willing to share how much
investable assets are we talking?
S9 (32:17):
Oh, it's over 700. Okay.
S6 (32:19):
Okay.
S1 (32:19):
Yeah. Got it. And are you pulling out an income
stream from it?
S9 (32:23):
Only the RMD.
S6 (32:25):
Okay.
S1 (32:26):
Yeah. Very good. Uh, so this is surplus money you
don't need. At least now. I mean, you may in
the future if you needed long term care or something
like that, but your main plan is either to give
it away or allow it to be an inheritance of
some kind.
S9 (32:38):
That's right.
S1 (32:39):
Okay. Yeah. Um, you know, I think, I mean, given
that you've kind of taken off the table and certainly,
you know, if you're uncomfortable, no reason not to if
you take it off the table, uh, you know, and you,
you don't want to go into an annuity, which those
aren't my first choice either. Then we're talking fixed income investments,
so I'd probably build a portfolio of treasuries, U.S. treasuries, bills,
(33:05):
bonds and notes, certificates of deposit and then high quality
bond funds. Um, you know, those are all going to
offer safety and steady income, especially if interest rates are decent. And,
you know, you can see some increase in the underlying
price of the bond as well. Um, I'd probably, you know,
in terms of the, the type of bond fund, I'd
(33:28):
probably think in terms of a medium term bond fund. Uh,
right now. And, you know, they balance income with interest
rate sensitivity. Um, and so it's kind of a solid
middle ground with moderate risk. And, you know, I think, uh,
that could serve you pretty well. You could either manage
that yourself and buy the, the treasuries and the bonds, uh,
(33:51):
you know, or you could get an advisor, um, you know,
I would probably. And if you didn't take stocks off
the table, I'd probably say, you know that you ought
to look at somewhere around 30% in some high quality
stocks that are dividend paying just to give you a
growth component, especially since you don't need the money, at
least right now, and you could have a long time horizon,
(34:12):
because you need to think in terms of this money
lasting 20 or 30 more years. Um, you know, until
the Lord calls you home. And that would allow you
to have a little extra growth kicker in there alongside
these other fixed income type offerings. And then the only
other thing would be what you're already doing, which is,
you know, having plenty in money market or short term, uh,
(34:32):
you know, instruments. And I already mentioned CDs, but that'll
give you the liquidity you're looking for. So how does
that sound, though?
S9 (34:41):
Uh, sounds sounds sounds good. It's pretty much what I
have in my research. That's about all I've come up with.
Although you did talk about bonds, and I hadn't considered those.
But can I do all these things within my IRA?
That is, with fidelity?
S6 (34:57):
Oh, yeah.
S1 (34:57):
Absolutely. Yeah. You could buy the individual bonds. You could
buy the bond fund, which then you're just buying the manager. And,
you know, the manager is, uh, you know, picking the,
the bond fund and you would select the, you know,
strategy so you could buy a, a medium term bond fund,
but that spreads your risk. Um, so you could do that.
You could buy the individual bonds. You could buy the
(35:18):
brokered CDs inside that, uh, IRA at fidelity, and you
could buy treasuries as well.
S9 (35:26):
Okay, Rob, thank you so very much. And God bless you, sir.
S1 (35:29):
All right. Thank you, sir. We appreciate your call. Thanks
for your kind remarks about the program. 800 525 7000
is the number to call. Let's go to, uh, Holland, Michigan. Hi, Suzanne.
Go ahead.
S10 (35:41):
Well. Hello there. Thanks for taking my call. I love
your show.
S6 (35:45):
I have learned a ton. Oh.
S1 (35:47):
That's great. Thank you for saying that, Suzanne. How can
I serve you today?
S10 (35:52):
My mother in law is 83 years old, and she's
just recently asked for help looking over her account statements
with her taxes and whatnot, and gets things in the mail.
She's a little getting a little confused. I would say
not terribly. Anyway, I noticed in one of her IRA
(36:13):
statements that she has never taken an R&D, and it
said she needed to take $550 from it, and it's
maybe $11,000 in this one account of hers. And I
and I thought, what the heck? So for ten years
she's never taken an RMD as required. So where does
(36:35):
that show up or how how is she penalized?
S6 (36:38):
Yeah.
S1 (36:39):
Yeah, it's a good question. The IRS is pretty flexible
on this, and you might even be able to avoid
the penalty altogether. Uh, so the default penalty if you
miss an RMD and don't correct it is 25% Um,
of the required minimum that you were supposed to take out. Um,
it can be reduced down to 10% if you, you know,
(37:02):
correct the mistake and catch it. You know, within two
years you get that lower 10% penalty. But here's the
other piece is that it can be waived altogether if
you just ask the IRS to waive the penalty completely
by filling out their form, it's 5329. And you would
attach what's called a reasonable cause letter. And so if
(37:25):
there's a valid reason, like you were just confused about
it or you didn't understand the rule, the IRS is
often lenient. But the key is the sooner you correct it,
the better. Um, and so I would try to jump
on this, perhaps get a CPA to help you, or
you could do it yourself. I mean, it's probably a
fairly simple situation, but you're going to want to get
(37:46):
that 5329 ask for, uh, you know, provide the reasonable
cause that there was just some confusion or she didn't
understand she needed to do that, which is the case.
And then, you know, get that RMD out of there
and pay the tax.
S10 (38:02):
And pay the tax. So, so did this show up
at all when when she did her taxes. Like how
are you notified of your your penalty or your your 25% tax.
S1 (38:15):
Uh, yeah. Well, um, you know, when she makes good
on that, when she takes it out, um, and, you know,
reports that as the required minimum, they're going to see
that it hasn't been, uh, you know, taken out previously,
and then they would impose the tax at that point. Um,
so I think the key is, you know, often you
(38:36):
won't get a notice from the IRS, you know, about
your RMD. It really is your responsibility. And often your
custodian where the account is, will notify you. The account provider,
like the brokerage firm, typically sends you that notice by
January the 1st, 31st each year. But maybe she didn't
get it or she misplaced it. But the IRS doesn't
(38:57):
send reminders. But when you, you know, try to get
that in compliance, then that's where typically they would apply
the penalty. And um, so, you know, you're going to
want to have that form to ask for the waiver, uh,
alongside it.
S10 (39:14):
Thank you so much. Yeah, I'm a little upset with
her planner, her her planner. She says she hasn't talked
to or had any contact with in years.
S6 (39:23):
Oh, man.
S1 (39:23):
Well, I'm sorry to hear that. That's no good. Maybe
it's time to consider a change there on that, uh.
That planner.
S10 (39:31):
Yeah. No kidding. All right. Big help today. Thank you so.
S6 (39:34):
Much. Absolutely.
S1 (39:35):
Suzanne, thanks for your call today. Lord bless you. 800
525 7000. Oh, we're about out of time. Let's see.
Let's try to get one more in. Minneapolis is where
Ernest is. Go ahead.
S11 (39:46):
Hi. Uh, Rob, I love your show. Um, my question
today is, um, I'm a new immigrant to the country.
I travel out of the country to my. My family
was out of the country for a long time. So
I travel a lot and I have large gaps in
my employment as a result of that. I've got an
excellent credit score, but I cannot seem to get a
(40:09):
rental or a loan to get a place to stay
because people want to see, um, six months employment, uh,
pay stubs or whatever. And I have now got these
large gaps. Is there some way around this?
S6 (40:25):
Yeah.
S1 (40:25):
So you've you've tried and you've been denied. Is that right?
You've you've tried multiple lenders.
S11 (40:32):
Um, I've, uh, I've tried lenders in the past and
they did a hard credit check and then said I didn't, uh,
comply and all that. That has hurt my credit score.
And recently I've only tried rentals and, Um, the rental
forms as you're filling them in. Everybody wants the last
six months pay stubs, of which I've only come back
(40:55):
into the country recently with my family eventually and really
need a place to stay. And the hotels are very expensive.
S6 (41:03):
Yeah. No.
S1 (41:05):
I understand that. Ernest, I'm so sorry. Yeah. You know,
even with a green card and good credit and steady employment. Now,
those lenders often want a consistent income history. Usually two
years with pay stubs or tax returns. So I think
your your next options would be some lenders offer a
non-qualified mortgage uh loans that use, you know, 12 to
(41:27):
24 months of bank statements to show income instead of
pay stubs. Now the rates are going to be higher
on those, but they're designed for people with non-traditional income history. Uh,
you if you have the ability you could put in,
you know, more of a down payment. So some lenders
may be flexible if you get above 20%. And if
(41:47):
you don't have as much on the income documentation, you
may want to try a credit union or a community bank.
They have often more personal underwriting and would be willing
to work with recent immigrants or unique income situations. Um,
so those would be probably the the best options. Um,
are you self-employed now or are you W-2?
S11 (42:10):
Uh, I'm W-2, I'm a commercial truck driver.
S6 (42:13):
Yeah. Okay.
S1 (42:14):
Got it. Yeah. So really, what you're looking for is
a lender that will offer that non QM loan. I'd
probably check with our friends at Movement Mortgage. They're, uh,
just an incredible organization run by believers. And I know
they have some flexible programs go to movement.com to learn more,
but hopefully that gives you a few ideas. God bless you, Ernest.
(42:35):
Let us know how that turns out. Faith and finance
is a partnership between Moody Radio and Faith by Omar. Amy, Lisa,
Anthony and Jim have been serving us. See you next time.
And I heard the voice of the Lord saying, whom
shall I send, and who will go for us? Then
I said, here I am, send me. Isaiah six eight. Hi,
I'm Rob West. The news from the Middle East can
feel overwhelming, but our hope in Christ calls us to act. Today,
May Lee Mielke from Hertford, Lebanon, joins us to share
how you can help protect young women and girls facing crisis.
(00:32):
And then it's on to your calls at 800, 525 7000.
That's 800, 500, 25, 7000. This is faith and finance live.
Biblical wisdom for your financial journey. Well, you've probably heard
us say it before. We love shining a light on
the incredible work of our trusted ministry partners. It's one
(00:54):
of the great joys of this program, celebrating how God
is moving around the world and inviting you to join
in Kingdom work that's changing lives. Well, one partner we're
especially honored to support is Hartford, Lebanon. This year, their
mission is focused on rescuing some of the most vulnerable
young girls and women facing the harsh realities of early marriage, trafficking,
(01:17):
child labor, and even violence. Morley Melki, strategic engagement manager
with Hartford Lebanon, is joining us now after just returning
from Lebanon to share more. And what a privilege to
have you back with us today, Morley.
S2 (01:30):
Thanks so much for having me, Rob. It's always a
joy to share about the work that God is doing
in Lebanon.
S1 (01:35):
Well, I can't wait to talk about it today. And Morley,
having grown up in Lebanon, I know this ministry is
deeply personal for you. I'd love for you to begin
by sharing why reaching our goal to support these young
women through Hartford, Lebanon is so vital. And what kind
of real on the ground impact it can make in
their lives?
S2 (01:54):
Absolutely, Rob. Right now the urgency is at its highest
that it's ever been. The Lebanon today is different than
the Lebanon that I grew up in, and that's because
of the immense tragedies and compounded crises that the country
has gone through. And the people group that has suffered
the most are girls ages 13 to 21, with no
(02:16):
legal recourse or anyone to protect them unless they have
some male figure in their family to vouch for them.
So many bad decisions are being made on their behalf,
and that's why we're here today, Rob. Because I truly
believe that these girls will change the country, the Middle East,
but most importantly, the church and its kingdom impact in
(02:38):
that part of the world.
S1 (02:39):
Mainly. Very specifically, I know you've identified 500 at risk
young women who need our help so far. Through the
partnership of listeners to this program, we've been able to
get about half of that number into your ministry there
at Hartford, Lebanon. But time is running short. We have
just till the end of the month as we try
(03:00):
to close out this opportunity. We're looking for support for
these other 250 girls and young women. That's just under $10,000. Now,
these are some pretty concrete numbers. So it's clear this
has been thoughtfully planned. I'd love for you, though, to
just break this down a bit more for us.
S2 (03:18):
I'd be more than happy to. You know, every gift
of $114 helps introduce three young women to Jesus as
they begin to understand what their value is in him.
You will be preventing things like early child marriage, child labour,
gender based violence and exploitation, and every investment provides safe spaces, mentorship,
(03:40):
Christian based counseling, educational and empowering tools that are all
based on biblical character traits and life skills, advocacy and
social awareness. We also offer vocational and skill training, but
most importantly, we offer spiritual guidance and Christ filled communities
which are much needed in Lebanon today. We share the
(04:01):
gospel and the love of Christ with these vulnerable young souls,
and many have accepted Christ in their land today where
they are. But that also has consequences to their own
personal lives. Rob. But today, you can open the door
to heart for Lebanon's ministry for three girls who are
at risk for early marriage, labor and exploitation. But knowing
(04:22):
we still have a few hundred more to go, just
as you mentioned, but we hope you will be as
generous as you can today by investing now at faithfully.
Or you can simply text the word faith. That's the
word faith to the number 986, five, six. And we
will immediately return a link to your mobile device where
(04:44):
you can give securely online.
S1 (04:46):
Well, I'm so excited about this opportunity. You know, on
this program, our heart's desire is that we use money
as a tool to accomplish God's purposes, and one of
those purposes is to give generously in the name of
Jesus to solve some of the world's greatest problems. And
I can't think of one more on the heart of
God than this. Partner with us to reach these additional
(05:07):
250 young girls in the name of Jesus, to give
them the confidence to stand boldly around their identity in Christ.
Faithfully is the website. Faithfully. Back with more after this.
Stay with us. Thanks for joining us today on Faith
(05:34):
and Finance Live. I'm Rob West with me today, Melissa
mielke from heart for Lebanon. She's joining us today to
talk about an incredible opportunity we have for you. And
that is to partner with us to reach. We're looking
for 250 150 more young women to be reached in
the name of Jesus. These are some of the most
(05:55):
vulnerable young girls and women facing the harsh realities of
early marriage, trafficking, child labour and violence in the Middle
East and Hartford, Lebanon, is reaching them with the hope
that only Jesus can provide with a safe place, with counseling,
with community to support these young girls so they can
(06:16):
then stand boldly with their identity in Christ. Our goal
500 young women reached by June 30th. We're halfway there,
so we're looking for you to come alongside us and
heart for Lebanon between now and the end of the
month to reach these additional 250 young women. $114 helps
(06:38):
to introduce three women to Jesus as they understand their
value to him, and in doing so, in giving, you'll
be helping to prevent things like early marriage and labor
and exploitation. It's just under $10,000 that we're looking for
to reach these additional 250 girls. You can help us
at Faith. Dot com slash that's faith. Philly.com. Now, I'd
(07:05):
love to talk a bit more about this. And I
know you've just returned from Lebanon, but tell our listeners
the support plays in helping you and the team at Hartford,
Lebanon reach these vulnerable girls.
S2 (07:18):
You know, simply put, Rob, we just cannot do this
without the faithful prayers and financial support of God's people
all around the world. We realize it takes an invisible
army for us to be able to witness that one
life changed on the field. But practically speaking, if we
don't have the funds to reach these girls, they are
at an increased risk every day of not being a
(07:39):
part of our ministry and therefore remaining in real danger
of things like sex trafficking, gender based violence, and early
childhood marriage.
S1 (07:48):
Yeah, there's no question about it. And that's why we're
so delighted to partner with you. And from a practical sense,
we want you to know that this is a ministry
that we have high confidence in, not only because we
know the leaders of this organization personally, but they have
incredible financial integrity from places like Charity Navigator and Ministry
Watch and SFA, and we praise God for that. But mainly,
(08:12):
it's hard for us to imagine here in America that
young girls in Lebanon are not just valued like they
should be. And I know Hoda Melki, the wife of
Camille Melki and one of Hartford Lebanon's co-founders, has spent
her entire life in Lebanon. And I'd love for you,
our listeners, to listen as she talks about how important
(08:35):
it is that these girls realize how precious they are
to Jesus.
S3 (08:40):
The mentality in general in the Middle East, more so
in the Islamic The communities is they look down at
the girls. They're not important. They are confident that there's
nothing good comes out of them. They are nothing. They
are good only for making babies. And I have so
many women and girls that I met, and I get
to know personally and heart for Lebanon that tells you
(09:02):
how important for us at heart for Lebanon to educate
and train and love and and show them, show the
girls how precious they are.
S1 (09:14):
Wow. That's incredible. Uh maylee. I'd love for you to
walk our listeners through how heart for Lebanon is meeting
these girls needs, and specifically the transformation you're seeing as
a result of the support being given?
S2 (09:28):
Yeah. You know, Rob, just simply put, we're offering education,
counseling and to church communities that Hartford, Lebanon has planted
to plug them in and to grow in their walk
with Christ. And that's what you're doing today, is helping
them be exposed to education and Education in Christian counseling
and church communities. But really it is at its core
introducing them to their Lord and their Savior. You know, um,
(09:52):
I was in Lebanon two weeks ago. Rob and, um,
one of our teachers came up to me and she said,
Iman accepted Jesus as our Lord and Savior. And we
sat down and I wanted to know more. I said,
how did this happen? And I know Iman, she's 12
years old. She comes from a muslim background and a very,
very difficult refugee community. And she shared how Iman was
(10:13):
forced to work at the age of 12, before and
after she's in our center in school and only to
make $20 the entire month and all that. $20 goes
to fund her dad's cigarettes and her brother's candy and
stuff like that. Very abusive, um, family situation that she
lives in. But yet Iman, after one of the chapel sessions,
(10:34):
decided to ask more about who this Jesus person is. And, um,
with tears, she said, I want to accept him as
my Lord and Savior. I know he's going to change
my heart from within. I know maybe immediately my mom
and dad won't change my circumstances, but he will change
who I am and I know that he will be
with me despite the difficult circumstances. And that's what you're
(10:55):
doing today. You're giving a man the opportunity to keep
going to school, to receive this ongoing Christian counseling, to
help her be plugged into this church community, that eventually
we pray and we hope her entire family will be
a part of. Um, there's nothing greater than eternal hope
and restoring girl's image in who they are and their
(11:16):
dignity in Jesus Christ.
S1 (11:18):
Wow. And that hope that only comes in Jesus changes everything.
We certainly know that, uh, my heart for Lebanon is
carrying out this vital kingdom work in a deeply challenging place.
And here at Faith and finance, we want to make
sure that all of these young girls are able to
be a part of this ministry that God is using
(11:38):
to transform lives, and lives, and it's the generosity of
our faithful listeners and supporters that makes it all possible.
So I'd love for you just to take a moment.
And with this goal before us, we're on our way
to reaching 500 young women and girls. Half of those
have already been funded. We're looking for an additional 250
(11:59):
girls to be reached. It's less than $10,000, folks. But specifically,
how can our listeners take part in this mission?
S2 (12:06):
First and foremost, prayer. Prayer is the most important thing,
you know. We prayed for Nazar for years. Um, she
is a mom who was forced into early child marriage
at an early age, thought about taking her own life,
and we prayed for her. And now, um, she has
accepted Jesus as her Lord and Savior. She attends one
of our vulnerable women Bible studies, and her daughter is
(12:27):
actually one of those young girls that we are wanting
to target today. Um, with your help. So yes, prayer
is the most important thing, but also, yes, financial support
is needed, as we still have about 250 of those
500 girls that we want to help that are standing
at the doors of Hartford, Lebanon's ministry. Only $114 opens
(12:49):
the door to Hartford, Lebanon's Ministry of Education, Counseling and
Spiritual Development for three girls who are at an increased
risk of early marriage, child labor, gender based violence and exploitation.
Perhaps you're listening to us today and you say, I
can do more. Um, perhaps you can do $950 that
would reach 25 of the girls that God has put
(13:11):
on our heart of these vulnerable girls, who the Lord
is calling us, leading us to help. But whatever God
calls you to do today, we are so grateful. I
want you to know that our entire team is so
grateful for you. We're so grateful for you even considering
partnering and praying with us. And this partnership with faith
and finance means a lot to the girls in Lebanon today.
S1 (13:32):
Well, it's a true privilege mainly to partner with Hartford,
Lebanon in such meaningful kingdom work. I'm so thankful for
your time today. You clearly have a passion and a
heart for this ministry. God is using you, Millie, and
it's an honor to walk alongside you in that work.
S2 (13:49):
Thank you so much, Rob. It's always a blessing.
S1 (13:51):
All right. That's Millie Mielke, strategic engagement manager with Hertford, Lebanon. Remember, folks,
$114 brings heart for Lebanon's Ministry of Education, Counseling and
Spiritual Development to three more at risk girls in Lebanon,
250 still to reach. Go to faith that's faithful. Or
(14:14):
text the word faith to 98656. That's faith to 98656.
Back with your calls after this. Stay with us.
S4 (14:31):
The opinions offered during this program represent the personal or
professional opinions of the participants are given for informational purposes only.
Any information provided is not intended to replace advice from
a financial, medical, legal or other professional who understands your
specific situation.
S1 (14:54):
Great to have you with us today on Faith and finance.
Live I'm Rob West. I can't wait to take your
calls and questions today. We've got lines open. This is
the time to call. They will fill up. That is
those lines. So go ahead and pick up the phone
call right now 800 525 7000. That's 800 525 7000.
We're going to be tackling whatever is on your mind today.
(15:17):
So we'd love to be sure to address your specific
question no matter what that is living, giving, owing or
growing God's money. Uh, any of those and more call
right now. 800 525 7000. Boy, what a treat to
have Melly Melki here. If you would prayerfully consider helping
us close out this goal the end of June 11th days,
(15:40):
might as well get it done today. We'd certainly be grateful.
207 young women and girls to go in terms of
reaching them with the gospel of Jesus Christ already have
293 that we've been able to fund to reach $114
introduces three at risk girls to Jesus through heart for Lebanon,
(16:01):
which helps to prevent early marriage, child labor and violence.
You know, they are so vulnerable there in that part
of the world for this specifically. And partnering with us
gives you an opportunity to provide them with safety and
the gospel. Faith. Faith is how you do that. Thanks
(16:22):
in advance. Before we head to the phones today. And
by the way, lines are open 800 525 7000. Uh,
want to tackle, uh, what's in the news today? A
lot going on, of course, but certainly the fed meeting
is top of mind as it relates to the economy
and the markets. The Federal Reserve announced it will keep
interest rates unchanged despite public pressure from President Trump for
(16:45):
a rate cut. Trump argues high rates hinder growth, while
Fed Chairman Powell says economic uncertainty, especially surrounding the tariffs,
warrants caution. This decision keeps borrowing expensive credit cards remain
above 20%. Auto loans are now averaging 7.3% for new cars, 11%
(17:05):
for used ones, and 30 year mortgage rates hover near 6.9%.
While these rates frustrate borrowers, they are rewarding savers, many
of whom are still earning 4% or higher in high
yielding accounts. In short, borrowing remains challenging and financing large
purchases remains expensive, but retirees and diligent savers are benefiting
(17:28):
from these elevated returns. Um, and so it is something that, uh,
folks are taking advantage of. Experts suggest avoiding, of course,
high interest debt. And when possible, shop around for savings
accounts offering the best rates. Now, while interest rate headlines
can spark anxiety, let me just remind you of what
(17:49):
we read in Philippians four six that we're to bring
our fears and our concerns to God. You know, financial challenges, weather,
rising loan payments or delayed home buying dreams are opportunities
to trust God and His provision. High rates may limit spending,
but can also teach us contentment. Contentment, which we read
about in first Timothy six. Also discipline. You know, God
(18:11):
isn't bound by economic cycles. He invites us to steward wisely,
to give generously, and to really rest in the assurance
that our treasure is in him, not the market. I
hope that's an encouragement to you today. All right, let's
dive into your phone calls. Again, that number to call (800)Â 525-7000.
You can call right now. Let's go to Anne in Chicago. Hi, Anne.
(18:34):
How can I help you?
S5 (18:36):
Hi. Bless you.
S6 (18:38):
Thank you. Ma'am. Um.
S5 (18:40):
Had that, uh, Social security, um, um, benefit that was
withheld for so long and then only paid a little bit.
I don't know, but it's called the windfall elimination tax.
I think.
S6 (18:56):
So.
S1 (18:56):
Yes. Were you a.
S6 (18:57):
Teacher?
S5 (18:58):
Yes.
S1 (18:59):
Yes. Um hum.
S5 (19:00):
Um, they sent me a check, and I think you
have the amount right there. And then they just this
month increased my monthly benefit, $700 a month, which with
that the monthly benefit, they do take out taxes before
and Medicare before they send it to me, right.
S1 (19:23):
Yes. That's right.
S5 (19:25):
Yeah. okay. But what about the big sum that I got,
the 11,000 that I got.
S6 (19:32):
To.
S5 (19:33):
Make up all those years that the with. What was it?
Windfall elimination.
S1 (19:39):
Yeah. Uh, so you're talking about that. So you received
a lump sum, uh, for the portion that was going
back to January 1st of last year. Is that right?
S5 (19:54):
Going back years. Years.
S6 (19:57):
Okay. Years and years.
S1 (20:00):
Yeah. Well, I think, uh, I think the way it
worked is and, you know, there's a lot of moving
pieces to this legislation, but that, uh, you know, that
was covering past months of benefits delayed by the windfall elimination.
And so that lump sum may be taxable. Um, you
would need to check with your CPA on that. I
(20:21):
believe you can spread the impact out. But I'm not
entirely sure as to how. You know, with this new
legislation and things are changing all the time. I would
hate to comment on this specifically because I am and
not certain on that. I know, um, you know, we've
we've only heard from a few folks that have started
(20:42):
receiving this, um, but I believe they are taxable and
would have to be reported. Now the IRS looks at
something called your provisional income, and that's your adjusted gross income,
plus any tax exempt interest plus half of your Social
Security benefits. And then if that goes over certain thresholds,
that determines what percent of your, um, Social Security is taxable. But, um,
(21:09):
I would say in general it's probably going to be taxable,
but not all of it. And um, I would check
with your CPA in your situation on specifically how much.
Because the last thing you'd want would be to be
surprised by that. so I wish I had a more
definitive answer, but I'd love for you to get a
professional opinion on that. Okay.
S5 (21:28):
Thank you so much. God bless.
S1 (21:30):
All right. You too, and all the best to you.
Thanks for being on the program. Hey, we've got some
lines open. We're going to take a quick break and
then back with more of your questions. 805 two, five 7000.
That's 800 525 7000. Call right now. This is Faith
in finance live here on Moody Radio. We'll be right back.
(21:57):
I'm so glad you're with us today on Faith in
finance live. I'm Rob West. We're taking your calls and
questions today on anything financial. If you have a question,
something you're wrestling with in your financial life, go ahead
and call right now. We've got some lines open. You'll
get right through the number 800 525 7000. Let's go
back to the phones. Akron, Ohio. Hi, Constance. Go ahead.
S7 (22:19):
Oh, hi. Yes, I have an idea, but it's also
an annuity. I'm wondering if there are any benefits to
having it into an annuity. Because I thought I was
going to change it from an IRA into an annuity.
But he says that it's in both, so I don't know.
And are there any benefits in that?
S1 (22:41):
Yeah. Not everyone needs to move their IRA into an annuity.
Here's the benefits of doing that and why someone might
consider it. First of all, guaranteed income so you can
convert your IRA into a reliable monthly check for life.
And that's what a lot of people are looking for.
(23:02):
Second would be protection from market losses. That is the
stock market and the bond market. So with a fixed
or a fixed indexed annuity, by putting your IRA in there,
your principal then is shielded from market downturns, which you
would not have if you had an IRA outside of
an annuity. And then the third would be what you
might call longevity insurance. So some annuities offer lifetime payouts
(23:27):
even if your IRA balance runs out. So what are
the downsides? Well, you've got redundant tax benefits. So an
IRA is already growing tax deferred. So putting it into
an annuity doesn't add any extra tax advantage. The other
downsides are the fees that come with higher fees than
traditional IRAs, especially the variable annuities. And then less flexibility
(23:51):
because you usually can't access the full balance like you
can with an IRA if you needed to without penalties.
And once you annuitize it, if you convert it to
an income stream, you certainly can't access the full balance.
So that would be the the reasons that folks wouldn't
do it. Bottom line is, if you're looking for predictable
(24:13):
income or you have a fear of outliving your money,
or you want to lock in some security, that's where
the IRA annuity comes in. But if you really prefer
control or flexibility, growth potential, the ability to access your
money in larger sums, then you'd want to keep your
IRA outside of an annuity and then just invest it
(24:34):
directly into mutual funds or ETFs, that type of thing.
Does that make sense?
S7 (24:40):
Yes it does. Mhm. But um okay. Well that act
as um growth in my annual income. Do I have
to declare that on my income tax for 2025.
S1 (24:53):
Uh, if you take it out when the money comes
out it is taxable. It's not it's tax deferred while
it's inside the IRA or the IRA annuity. But when
it comes out, then it's taxable. Now, uh, you still
have to take required minimums with an IRA that's in
an annuity starting at 73 or 75 if you were
(25:13):
born in 1960 or later. but how they're handled depends
on how the annuity is set up. If you haven't
turned the annuity into income yet, therefore it's still growing.
Then you'll take the required minimums based on the account value,
just like an IRA. You would have to withdraw separately
to meet the minimum if it's already paying out. If
(25:34):
you've done what's called annuitization and you've converted it to
a lifetime income stream, then those payments usually count toward
your Im as long as you meet the minimum required amount.
But not all annuities automatically satisfy those RMD rules, so
it's important to work with your advisor or insurance company. Um,
(25:55):
you know, as that money, uh, you know, in order
to make sure you're at least reaching that minimum and
it's taxed as ordinary income, just like regular withdrawals from
an IRA. It went in tax deferred, meaning you didn't
pay tax on it. So now the IRS wants its
share when you pull it out.
S7 (26:14):
All right. Thank you, sir.
S1 (26:16):
Okay. Constance, thanks for your call today. Lord bless you.
800 525 7000. We've got some lines open today. Go
ahead and call right now. You can get right through.
We've got several lines open. In fact, 800 525 7000
to Florida. Hi, Nick. Go ahead.
S8 (26:31):
Thank you for taking my call. I have a monster
box of silver eagles that are that I bought in
2015 and, you know, never opened. You know, the boxes
factory banded never been circulated. And I'm wondering if I'm
better off just letting that stuff sit and collect dust.
Or would I be better off, you know, selling it,
(26:53):
taking the money and investing it in either putting it
in a higher yield like these 4% or so, uh,
savings accounts or investing it, opening a personal investment account, like.
Investing the money.
S1 (27:11):
Yeah, yeah. Uh, let me ask you, what is this, uh,
the total value of it, if you know, and I
realize it's just been sitting there, so you may not
have priced it lately, but how does that fit into
your overall total investable assets? What percent?
S8 (27:27):
Are total. Well, I already have a 401 K. Um,
and I guess if I had to value it, I
think I'm probably around. It's probably doubled since I bought it.
S1 (27:38):
Yeah, I.
S8 (27:39):
Think I paid about 8 or 9 grand and but
investable I mean, like I said, I, I already have
a 401 K uh, and um, there's really only other
money I have that I'm going to invest. That's it.
S1 (27:55):
Yeah, yeah. Very good. Um, well, you know, I think
bottom line is, yeah, it has done well. I think
I'm just looking it up in 2015. You probably bought
it when silver was about $15 an ounce. You know,
it's sitting here at about 36, $37. So that's pretty
good in terms of the overall return. Um, you know,
(28:17):
you're looking at about 130, 135%. Um, you know, when
we stack that up against the S&P 500, you know,
it's done a little better. I mean, quite a bit better, actually.
S&P 500 if you include dividends. I'm just looking for
that same period about ten years 2015 to 2025 is
up about 230%. So it's outperformed silver in both growth
(28:42):
and total return, especially with when you include more the
dividends and silver is more volatile. Uh it has sharp,
you know, swings uh and longer stagnation periods. And it
doesn't have any income. So overall, I like, you know,
a properly diversified stock and bond portfolio better. And bottom
line is if you would have had that same money
(29:03):
in the S&P 500 or, you know, some broad market index,
you would have performed better for sure. When you put
the total return, you know, in place. Um, is it
bad to have some precious metals? I prefer gold to silver. Um, but,
you know, it sounds like this is a relatively small
portion of your total investable assets when you factor in
your 401 K. So I'd be okay with that. I'd say,
(29:26):
you know, I like a 5% allocation to precious metals. Again,
my preference is gold. But you'd take the physical gold
kind of like you did with these, uh, you know,
silver eagles and keep it for life and pass it down.
And then if you wanted to do another 5%, I'd
use probably an exchange traded fund. But at the end
of the day, I think, you know, you would probably
(29:46):
do better long term in stocks and bonds. And so
if if you're not looking to keep this and pass
it down, I'd probably sell it and and get that
money invested.
S8 (29:58):
Okay. And then as far as doing that, doing the latter,
I can get on your website and find one of
the Kingdom advisors and to help me with that.
S1 (30:08):
You know, not really, because most of them don't. You know,
you really need a reputable gold or precious metal dealer.
Somebody who could get that sold for you. They could.
The CS could help you redeploy any of your investments. Yeah.
S8 (30:22):
No, I meant after.
S1 (30:23):
Oh. Got it. Yes, sir. Absolutely. Just go to.com, click
find a professional. And I'd interview 2 or 3 CS
there in Florida. And you can find the one that's
the best fit for sure. Hey Nick thanks for your call, sir.
God bless you. We appreciate you being on the program. Well,
the lines are filling up. I still have a few open.
Do you have a question? Call right now. 800 525 7000.
(30:44):
We'll be right back. Great to have you with us
today on Faith and finance live here on Moody Radio.
Here in our final segment today, we'll get to as
many calls as we can. Let's go right back to
the phones. Old Hickory, Tennessee is where Michael is. Go
ahead sir.
S9 (31:04):
Yeah. Hello, Rob. Thank you. Uh, Rob, I just wanted
to know what you would do in my situation. I am, uh,
73 years old. Been retired since 2017. I'm a widower,
I when I retired, I rolled my 401 into an IRA.
The money is currently in fidelity money market interest is
(31:28):
about 4%. Uh, I know the interest rates are going
to be going down over time. Um, I do have
an emergency fund with about 50 K in it. Um,
I don't want to put it in stock market, and
I definitely do not want to put it in. Uh. Uh,
(31:49):
I'm sorry, I forgot what you call it now.
S1 (31:53):
The annuity or bonds or annuity?
S9 (31:56):
Yeah. The annuity. I don't want to go there. So
I just wondered what would Rob do if with all
of your knowledge. If he were in the same position. Listen. Thanks.
S1 (32:08):
Yeah, yeah. Very good. What did you say? And maybe
you didn't. Michael, if you're willing to share how much
investable assets are we talking?
S9 (32:17):
Oh, it's over 700. Okay.
S6 (32:19):
Okay.
S1 (32:19):
Yeah. Got it. And are you pulling out an income
stream from it?
S9 (32:23):
Only the RMD.
S6 (32:25):
Okay.
S1 (32:26):
Yeah. Very good. Uh, so this is surplus money you
don't need. At least now. I mean, you may in
the future if you needed long term care or something
like that, but your main plan is either to give
it away or allow it to be an inheritance of
some kind.
S9 (32:38):
That's right.
S1 (32:39):
Okay. Yeah. Um, you know, I think, I mean, given
that you've kind of taken off the table and certainly,
you know, if you're uncomfortable, no reason not to if
you take it off the table, uh, you know, and you,
you don't want to go into an annuity, which those
aren't my first choice either. Then we're talking fixed income investments,
so I'd probably build a portfolio of treasuries, U.S. treasuries, bills,
(33:05):
bonds and notes, certificates of deposit and then high quality
bond funds. Um, you know, those are all going to
offer safety and steady income, especially if interest rates are decent. And,
you know, you can see some increase in the underlying
price of the bond as well. Um, I'd probably, you know,
in terms of the, the type of bond fund, I'd
(33:28):
probably think in terms of a medium term bond fund. Uh,
right now. And, you know, they balance income with interest
rate sensitivity. Um, and so it's kind of a solid
middle ground with moderate risk. And, you know, I think, uh,
that could serve you pretty well. You could either manage
that yourself and buy the, the treasuries and the bonds, uh,
(33:51):
you know, or you could get an advisor, um, you know,
I would probably. And if you didn't take stocks off
the table, I'd probably say, you know that you ought
to look at somewhere around 30% in some high quality
stocks that are dividend paying just to give you a
growth component, especially since you don't need the money, at
least right now, and you could have a long time horizon,
(34:12):
because you need to think in terms of this money
lasting 20 or 30 more years. Um, you know, until
the Lord calls you home. And that would allow you
to have a little extra growth kicker in there alongside
these other fixed income type offerings. And then the only
other thing would be what you're already doing, which is,
you know, having plenty in money market or short term, uh,
(34:32):
you know, instruments. And I already mentioned CDs, but that'll
give you the liquidity you're looking for. So how does
that sound, though?
S9 (34:41):
Uh, sounds sounds sounds good. It's pretty much what I
have in my research. That's about all I've come up with.
Although you did talk about bonds, and I hadn't considered those.
But can I do all these things within my IRA?
That is, with fidelity?
S6 (34:57):
Oh, yeah.
S1 (34:57):
Absolutely. Yeah. You could buy the individual bonds. You could
buy the bond fund, which then you're just buying the manager. And,
you know, the manager is, uh, you know, picking the,
the bond fund and you would select the, you know,
strategy so you could buy a, a medium term bond fund,
but that spreads your risk. Um, so you could do that.
You could buy the individual bonds. You could buy the
(35:18):
brokered CDs inside that, uh, IRA at fidelity, and you
could buy treasuries as well.
S9 (35:26):
Okay, Rob, thank you so very much. And God bless you, sir.
S1 (35:29):
All right. Thank you, sir. We appreciate your call. Thanks
for your kind remarks about the program. 800 525 7000
is the number to call. Let's go to, uh, Holland, Michigan. Hi, Suzanne.
Go ahead.
S10 (35:41):
Well. Hello there. Thanks for taking my call. I love
your show.
S6 (35:45):
I have learned a ton. Oh.
S1 (35:47):
That's great. Thank you for saying that, Suzanne. How can
I serve you today?
S10 (35:52):
My mother in law is 83 years old, and she's
just recently asked for help looking over her account statements
with her taxes and whatnot, and gets things in the mail.
She's a little getting a little confused. I would say
not terribly. Anyway, I noticed in one of her IRA
(36:13):
statements that she has never taken an R&D, and it
said she needed to take $550 from it, and it's
maybe $11,000 in this one account of hers. And I
and I thought, what the heck? So for ten years
she's never taken an RMD as required. So where does
(36:35):
that show up or how how is she penalized?
S6 (36:38):
Yeah.
S1 (36:39):
Yeah, it's a good question. The IRS is pretty flexible
on this, and you might even be able to avoid
the penalty altogether. Uh, so the default penalty if you
miss an RMD and don't correct it is 25% Um,
of the required minimum that you were supposed to take out. Um,
it can be reduced down to 10% if you, you know,
(37:02):
correct the mistake and catch it. You know, within two
years you get that lower 10% penalty. But here's the
other piece is that it can be waived altogether if
you just ask the IRS to waive the penalty completely
by filling out their form, it's 5329. And you would
attach what's called a reasonable cause letter. And so if
(37:25):
there's a valid reason, like you were just confused about
it or you didn't understand the rule, the IRS is
often lenient. But the key is the sooner you correct it,
the better. Um, and so I would try to jump
on this, perhaps get a CPA to help you, or
you could do it yourself. I mean, it's probably a
fairly simple situation, but you're going to want to get
(37:46):
that 5329 ask for, uh, you know, provide the reasonable
cause that there was just some confusion or she didn't
understand she needed to do that, which is the case.
And then, you know, get that RMD out of there
and pay the tax.
S10 (38:02):
And pay the tax. So, so did this show up
at all when when she did her taxes. Like how
are you notified of your your penalty or your your 25% tax.
S1 (38:15):
Uh, yeah. Well, um, you know, when she makes good
on that, when she takes it out, um, and, you know,
reports that as the required minimum, they're going to see
that it hasn't been, uh, you know, taken out previously,
and then they would impose the tax at that point. Um,
so I think the key is, you know, often you
(38:36):
won't get a notice from the IRS, you know, about
your RMD. It really is your responsibility. And often your
custodian where the account is, will notify you. The account provider,
like the brokerage firm, typically sends you that notice by
January the 1st, 31st each year. But maybe she didn't
get it or she misplaced it. But the IRS doesn't
(38:57):
send reminders. But when you, you know, try to get
that in compliance, then that's where typically they would apply
the penalty. And um, so, you know, you're going to
want to have that form to ask for the waiver, uh,
alongside it.
S10 (39:14):
Thank you so much. Yeah, I'm a little upset with
her planner, her her planner. She says she hasn't talked
to or had any contact with in years.
S6 (39:23):
Oh, man.
S1 (39:23):
Well, I'm sorry to hear that. That's no good. Maybe
it's time to consider a change there on that, uh.
That planner.
S10 (39:31):
Yeah. No kidding. All right. Big help today. Thank you so.
S6 (39:34):
Much. Absolutely.
S1 (39:35):
Suzanne, thanks for your call today. Lord bless you. 800
525 7000. Oh, we're about out of time. Let's see.
Let's try to get one more in. Minneapolis is where
Ernest is. Go ahead.
S11 (39:46):
Hi. Uh, Rob, I love your show. Um, my question
today is, um, I'm a new immigrant to the country.
I travel out of the country to my. My family
was out of the country for a long time. So
I travel a lot and I have large gaps in
my employment as a result of that. I've got an
excellent credit score, but I cannot seem to get a
(40:09):
rental or a loan to get a place to stay
because people want to see, um, six months employment, uh,
pay stubs or whatever. And I have now got these
large gaps. Is there some way around this?
S6 (40:25):
Yeah.
S1 (40:25):
So you've you've tried and you've been denied. Is that right?
You've you've tried multiple lenders.
S11 (40:32):
Um, I've, uh, I've tried lenders in the past and
they did a hard credit check and then said I didn't, uh,
comply and all that. That has hurt my credit score.
And recently I've only tried rentals and, Um, the rental
forms as you're filling them in. Everybody wants the last
six months pay stubs, of which I've only come back
(40:55):
into the country recently with my family eventually and really
need a place to stay. And the hotels are very expensive.
S6 (41:03):
Yeah. No.
S1 (41:05):
I understand that. Ernest, I'm so sorry. Yeah. You know,
even with a green card and good credit and steady employment. Now,
those lenders often want a consistent income history. Usually two
years with pay stubs or tax returns. So I think
your your next options would be some lenders offer a
non-qualified mortgage uh loans that use, you know, 12 to
(41:27):
24 months of bank statements to show income instead of
pay stubs. Now the rates are going to be higher
on those, but they're designed for people with non-traditional income history. Uh,
you if you have the ability you could put in,
you know, more of a down payment. So some lenders
may be flexible if you get above 20%. And if
(41:47):
you don't have as much on the income documentation, you
may want to try a credit union or a community bank.
They have often more personal underwriting and would be willing
to work with recent immigrants or unique income situations. Um,
so those would be probably the the best options. Um,
are you self-employed now or are you W-2?
S11 (42:10):
Uh, I'm W-2, I'm a commercial truck driver.
S6 (42:13):
Yeah. Okay.
S1 (42:14):
Got it. Yeah. So really, what you're looking for is
a lender that will offer that non QM loan. I'd
probably check with our friends at Movement Mortgage. They're, uh,
just an incredible organization run by believers. And I know
they have some flexible programs go to movement.com to learn more,
but hopefully that gives you a few ideas. God bless you, Ernest.
(42:35):
Let us know how that turns out. Faith and finance
is a partnership between Moody Radio and Faith by Omar. Amy, Lisa,
Anthony and Jim have been serving us. See you next time.
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