November 27, 2025 • 43 mins
Happy Thanksgiving! We hope you’re enjoying the day with family and friends . . . and thanking God for His many blessings. Gratitude was certainly on the minds of those at the first Thanksgiving in 1621, but who were those on hand for that celebration in the Plymouth Colony 400 years ago? Why were they there? And just what were they celebrating? Rob West explores on the next Faith & Finance Live. Then, it’s your calls. That’s Faith & Finance Live, where biblical wisdom meets today’s finances, weekdays at 4pm Eastern/3pm Central on Moody Radio.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
S1 (00:02):
Today's faith and finance live is actually not live, so
our phone lines are not open.
S2 (00:08):
Happy Thanksgiving! We hope you're enjoying the day with family
and friends and thanking God for his many blessings. Hi,
I'm Rob West. You know, gratitude was certainly on the
minds of those at the first Thanksgiving in 1621. But
who were those on hand for that celebration in Plymouth
Colony some 400 years ago? Why were they there? And
(00:29):
just what were they celebrating? We'll find out today. Then
we have some great questions lined up for you. But
don't call in today because we're prerecorded. This is faith
and finance. Live. Biblical wisdom for your financial journey. Most
of us remember from grade school that the Plymouth Colony
(00:50):
in present day Massachusetts was founded in 1620 by a
group we know as the pilgrims, also called separatists. Tests.
These settlers sought to break away entirely from the Church
of England, which they felt had strayed from biblical teaching.
Their journey is one of remarkable faith and courage as
they pursued the freedom to worship as their conscience dictated.
(01:13):
In contrast, the Puritans who settled nearby in Massachusetts Bay
colony in 1630 shared some beliefs but followed a different approach.
Unlike the separatists, Puritans wanted to remain within the Church
of England, hoping to reform it from within. This earned
them the name non separatists as they wanted to purify,
(01:35):
not abandon, the church. Although their paths differed, both groups
stories remain deeply intertwined. In the early history of America,
the pilgrims faced intense persecution in England for worshipping outside
the established church and holding the Bible as their final authority.
In 1609, they fled to Leiden, Holland, hoping to worship freely. However,
(01:58):
even in Holland they encounter challenges and some were arrested
and brought back to England. Realizing that their aspirations for
freedom wouldn't be fully realized in Europe, they made the
significant decision to sail to the New World, where they
hoped to live according to their beliefs. Around 120 men,
women and children boarded the Mayflower, embarking on an uncertain
(02:21):
voyage across the Atlantic. Not everyone was driven by faith.
Some known as adventurers, joined for financial opportunities, though such
opportunities would prove difficult to come by. For the pilgrims,
the journey was primarily about worshipping freely, escaping religious oppression,
and starting a new life rooted in faith. Today, Thanksgiving
(02:43):
is often a celebration of gratitude for God's provision for
the pilgrims. However, thanksgiving came out of struggle and sacrifice
for religious freedom, a reminder of the resilience required to
secure that right. Their journey is a significant part of
our heritage and something to remember as we give thanks.
The voyage to the new world was challenging. They faced
(03:06):
delays and the Atlantic crossing was rough. So they arrived
in November instead of summer, leaving them no time to
plant crops. This led to what became known as the
Starving Time, where disease and lack of food took a
heavy toll. Nearly half of their group didn't survive that
brutal first winter. Despite mistakes in planning, the pilgrims established
(03:28):
a positive relationship with some of the Native Americans in
the area. One Native American named Squanto, who had previously
learned English, was especially instrumental, acting as their interpreter. He
taught the pilgrims vital survival skills, like how to plant
corn and where to fish. Helping them learn to sustain
themselves in a foreign land. With Squanto's guidance, they planted
(03:52):
crops in the spring of 1621 and were able to
reap a modest but vital harvest that fall. To honor
God for his provision, they invited their Native American neighbors
to a thanksgiving feast. By then, only 22 men for
married women and 25 teenagers and children remained from the
original group. The Native Americans who joined them brought food,
(04:15):
nearly doubling the gathering size and marking one of America's
first potluck celebrations. Together, they celebrated survival, provision and friendship,
a testimony to faith and resilience. Years later, William Bradford,
Plymouth Colony's longtime governor, wrote about this journey in his
book of Plymouth Plantation, quoting Hebrews 1113 through 16 to
(04:39):
describe the faith of those who endured. The passage reads,
all these people were still living by faith when they died,
admitting they were foreigners and strangers on earth. They were
looking for a country of their own, longing for a
better country, a heavenly one. Therefore, God is not ashamed
to be called their God, for he has prepared a
(05:00):
city for them. Bradford and the pilgrims saw this verse
as capturing the heart of their journey, knowing that their
true home was with God. As we gather for Thanksgiving
this year, may we remember the story of their courage, faith,
and gratitude for the freedom to worship as we choose
from all of us here at Faith fi. We wish
you a happy and peaceful Thanksgiving. We'll be right back.
S1 (05:38):
We're faith and finance live, and we talk about our
telephone number often because we usually are live. But today
the program is prerecorded. So if you hear a mention
of the phone number, please don't call us. But you
can find us online at faith. Lecom.
S2 (05:56):
We're going to begin in Ohio today, Bob. Go ahead.
S3 (06:00):
Yes, I've been offered a settlement, um, from a company, um,
and I had no experience. It's not a huge amount
of money or anything, but the, uh, law firm handling this, uh,
is encouraging me to accept the offer, uh, instead of
(06:21):
pursuing prolonged litigation. Um, um, and I realized probably the
longer it would take, it's already been a few years
they've been working on this. So, you know, I'm probably
not going to get a lot in. The longer you
drag it out, it's probably going to be a lot
more in fees and whatnot. But I just thought since
it's a very unusual situation that I find myself in,
(06:44):
if you had any comments or thoughts that, uh, you
whether or not I just accept the settlement and call
it quits.
S2 (06:52):
Yeah, well, I appreciate that question. And, you know, it's
a it can feel like a big decision. Um, and
I love that you're really thinking through this thoughtfully. Um,
I would say kind of bottom line is because I
don't know the situation or the dollars or kind of
what the issue is at the heart of this lawsuit.
(07:13):
But I would just say at a high level, if
the settlement amount is what you would consider fair and
perhaps and this is a big deal, provide some closure.
I think it can make sense to take it. You know,
if it seems too low and, uh, they, you know,
you have a strong case. It may be worth continuing,
but only with sound legal counsel. But I think either way,
(07:35):
you really should never sign a settlement agreement without an
attorney reviewing it first. It sounds like there is an
attorney involved. Uh, but, you know, I think at the
end of the day, you really need to understand the
strength of the case, the evidence, the cost and stress
of going to court. And, you know, I think, you know,
(07:56):
an attorney can really give you a good understanding of
what's a realistic court outcome and compare that to the
settlement offer. And then, you know, as you said, you
need to evaluate the legal fees and, and the other expenses, uh,
that would be associated with this both in money and time, uh,
to keep this moving. And, you know, I think at
(08:17):
the end of the day, um, you know, in your 70s,
I would ask the question, do I have the time,
the energy, the peace of mind to go through months
or even years of legal process? And sometimes closure is
worth more than a potentially larger number down the road. So, um,
I don't know if that's helpful at all, but maybe
a few other things to think about.
S3 (08:40):
Yeah, it's sort of the the way I've been considering this. So, uh,
it's pretty. You're pretty much Confirming my at least my
feelings toward this. Um, you know, and, you know, the
law firm did indicate that you're, you know, I know that, uh,
the fees are probably going to be enough that I'll
(09:03):
probably be lucky to come out with half of what,
what the settlement is. But when it's all said and done. But, uh. Yeah,
you're right. That that way, it's, uh, finished, and I
can move on with things.
S2 (09:14):
Yeah, I think that's right. I think that's an appropriate
way to think about it. But, you know, if you're
still wrestling with it, I would, you know, really use
your attorney as a good sounding board there just to
think through, you know, the time, the commitment, you know,
how long this could go on, the expense, what a
realistic outcome might be. And and then, you know, pray
through it. Ask the Lord to give you wisdom. James
one five if we lack wisdom, we should ask the Lord,
(09:35):
and he'll give it to you. And um, so let's
just trust him in that. But, uh, hopefully it's giving
you at least a few more things to think about. Bob. Uh,
call any time, sir, if we can be of help
to you. Lord bless you. Uh, let's go to Illinois. Hi, Gregory.
Go ahead.
S4 (09:49):
Yes. God bless. How you doing today?
S2 (09:52):
I'm doing great, Gregory. How are you?
S4 (09:54):
I'm great. Great. Yeah. I got an old financial question
for you. Go back in the front all the way
in the Old Testament. And my question is, my question
is concerning tithing offering. I'm hearing some different teaching now,
according to the Old Testament law, are teaching that it's
(10:16):
still the same traditional that you propose to give 10%.
And I'm hearing the other side of the coin that
according to New Testament, that we're not caught up on
the law of giving according to the epistles, you give
according to your heart. So I just want to hear
what you have to say.
S2 (10:35):
Yeah. So here's my thought on that. So, you know,
in truth, tithing is an Old Testament concept. And in fact,
while the word literally means a 10th. So that's where
we get the 10% idea from. There were actually three
tithes in the Old Testament. There was one for the Levites,
one for the temple and one for the poor, and
that one was every three years. So if you add
(10:57):
it up, the quote unquote tie, than the Old Testament
was basically 23 and a third percent every single year.
And that was just the beginning. Then there was additional
offerings that were on top of that. Uh, and we could,
you know, go into all of those now old, uh,
you know, when we look at Old Testament giving, uh,
(11:17):
you know, that clearly was under the law of Moses, uh,
we're under now the law of Christ. So what happened
when Jesus entered the scene? Well, I think he took
giving to an even higher level. Uh, I would say
he showed a different way of giving what I'll call
whole life generosity. He gave his life as the ultimate
sacrifice on our behalf to pay the penalty for our sin. Uh,
(11:41):
so when he talked about money, he taught when we
look at the scriptures that we should give as we've
been blessed. In Luke 638 he said, to whom much
is given, much is required. In Luke 1248 he, of course,
commended the most famous giver. We don't know her name,
but we know she was a poor widow who gave
her last two copper coins. We also know he challenged
(12:02):
the rich young ruler to give away all of his wealth.
So I think there is some confusion on this. And
what I would say is that also, in truth, Jesus
referenced the tithe, even though again, I would agree with
you that we're no longer under the Law of Moses.
So what do we do with all of that? Well,
I think given for those of us who have seen
what he's done on our behalf on the cross, we
(12:25):
embrace a New Testament model of giving, which I would
say is, you know, the hallmarks of New Testament giving
are giving freely giving, sacrificially giving proportionately to whom much
is given, much is required. I would say it's also giving,
giving cheerfully. We don't want to be legalistic about it.
(12:45):
We don't want to do it as as God's Word
says under compulsion. Second Corinthians nine seven. Each of you
should give what he has decided in his heart, not
reluctantly or under compulsion. For God loves a cheerful giver.
So I think you're right. God wants our hearts, but
he does also want us to be givers. I mean,
that's clear throughout the whole of Scripture. And I think, Gregory,
(13:08):
it's the ultimate demonstration of our trust in the Lord,
because giving requires that we open our hands. It calibrates
our hearts to God's. It gets our focus off our
own mini kingdoms and gets our, you know, focus on
God's kingdom through our generosity. It allows us to participate
with him. So what do we do with the tithe? Well,
(13:29):
I would say the tithe is a great guideline for
our giving because it's proportionate. It's on the increase. It
starts with the local church, which is God's Plan A,
but I don't think it ends there. I think to
the point of of what we see in Jesus teaching it. Really,
he raises the bar. And so I like what Randy Alcorn,
the author, says that the tithe is the training wheels
(13:51):
of giving. It's our starting point. And then we look
to give beyond that sacrificially. So what are your thoughts
on that? I just have a few seconds left.
S4 (14:00):
Man, that sounds great. I mean, that was wonderful. And
it gave me some clear insight. So that was beautiful
I appreciate you. Thank you so much.
S2 (14:10):
Absolutely, Gregory. Well, I appreciate you. And thanks for calling
and raising this question. You know, at the end of
the day, uh, it's not what God wants from us.
It's what he wants for us. And I think giving
is one of the amazing opportunities we have to be
connected into God's activity. Hey, we're going to take a
quick break and then be back with much more stick around.
(14:35):
Thanks for joining us today on Faith and Finance Live. Again,
we're not here today. Our team is away from the studio,
so don't call in. But we've got some great questions
coming up. In fact, let's go to one of those
right now. Uh, let's go to, uh, Tennessee. Hi, Valerie.
Go ahead.
S5 (14:50):
First of all, I'd like to say thank you so much.
My husband and I look forward to listen to your show.
And we've learned so much from you guys. And thank you.
S2 (14:57):
Well, that's great. Thank you for saying that.
S5 (14:59):
Yeah. My question today is on Social Security. Um, I've,
I started drawing last year at the age of 65.
I've been receiving emails saying that Donald Trump is going
to be doing away with Social Security and increasing Social
Security or retirement age to 70. If he does, um,
which I, I didn't call the Social Security office here
(15:21):
in town back up for just a second and asked
him about this. Honestly, they don't know. They don't have
any answers. So, you know, it's just I don't know
what to do if I lose my Social Security now
after retiring and then just working part time, I just
kind of want to know what you know about what's
going on.
S2 (15:37):
Yeah, well, it's a great question, Valerie. And I can
understand how it's weighing on you. And let me just
kind of unpack each piece of this, because it's a
great question and because, you know, the bottom line of
all this, but I'll unpack it in more detail because
you are already receiving benefits. Um, none of these changes
that are being floated would reduce what you're currently receiving,
(15:59):
but let's walk through it. So once you file and
begin Social Security benefits, your award is locked in your benefits.
So your monthly benefit amount, uh, you know, plus cost
of living adjustments along the way, it doesn't retroactively get
cut because of changes in the law. Um, so you
might see some headlines or get a kind of a
(16:21):
click bait email that says, oh, they're raising the retirement
age to age 70. And what they mean by that
is they're talking about raising the full retirement age to
age 70. But again, if that happened and it certainly, um,
only being discussed at best, it would only affect people
in the future, not those already filing. Now, what about
(16:42):
the Social Security trust fund? Well, the Social Security Trust
Fund is expected to be exhausted in the next decade
unless Congress acts. So some of the policy proposals. And
by the way, even if it was at 0 in
20 34 or 2035, when it's projected to be, if
(17:02):
nothing changes, they'd still be able to pay with current
revenues at that time, 80% of benefits. So it's not
like everybody's Social Security goes away at that point, but
they are discussing policy proposals to shore it up so
it doesn't run out. And I would say just in
my opinion, and that's all it is. Um, I think
(17:23):
that's what would happen. I can't imagine, uh, policy makers, uh,
you know, allowing anything like that to happen, even a
reduction from 100% of benefits to 80, just because that's
too important for the voter base. You know, they'd have
to look their constituents in the eye and explain why
they didn't make changes to shore up Social Security. And
(17:45):
I just think they're going to do that. So what
are some of those proposals that are being floated? Well,
one of them is raising the full retirement age from 67,
where it is today, to 69 or even 70 for
younger workers. But Donald Trump has actually publicly stated he
will not raise the retirement age or cut benefits for
(18:06):
current or near retirees. So you would clearly fit into
that category. Uh, you know, so I think at the
end of the day, uh, you know, you don't really
need to be concerned about this. Yes. Changes will likely
come between now and that point where it's going to
run dry, but it will almost certainly only affect those
(18:27):
that have not started collecting, if that makes sense, because
you'd be grandfathered in under the rules in force when
you filed.
S5 (18:35):
Great. All right. Great answer. Thank you so much. You
have put me at ease.
S2 (18:39):
All right. Thanks for calling, Barry. Lord bless you. And
thanks for your kind remarks about the program. That means
a lot. And let's go to Tennessee. John. Go ahead.
S6 (18:46):
Yes, Rob, thank you for taking my call. Sure. I
agree with the previous caller about your program. It's a
big help. Um. Thank you. Anyway, my granddaughter would like to, uh,
start her investment account, and she has $500 to start it.
Long term, of course. And I'm going to help her
(19:07):
because I have a little bit of experience. But anyway,
do I go into fidelity and start with stocks, or
do I do something like the Timothy plans where they're
more of a mutual?
S2 (19:20):
Yeah, it's a great question. And I think, I mean,
if it was a younger child, I kind of like
the idea of, uh, you know, us or you in
this case, you know, thinking about maybe buying in some
fractional shares of companies that your granddaughter would, you know,
be familiar with. So through an app like stash or
(19:42):
some of the other investment platforms, um, you know, you
can go in and buy with even just a few dollars,
you know, a very small fractional share. So like a,
you know, less than one share of an actual company.
And then it would be kind of fun because maybe
it's a company she knows and likes and visits and
she could keep up with it. And it might be
(20:04):
a fun way to introduce her to investing. But somebody
who's 18, I think we really need to start to
lay the groundwork for what does what does real investing
look like with proper diversification? Because what we don't want
is for her to be too highly concentrated in one company.
We want her to learn, you know, the the understanding
of principle, the principle of diversification from Ecclesiastes, uh, that
(20:28):
we don't all want all of our eggs in one basket.
So I think for that reason, I like you taking
a basket approach, which would either be an index fund
or a mutual fund. And I like what you said
there right at the end, which is let's start early.
And introducing her to faith based investing, uh, and giving
her the opportunity to understand how she can align her
(20:49):
values with her investments. So I think Timothy plan would
be a great option. And, you know, she could learn
some of the companies in there and maybe the top
ten holdings you could begin to talk to her about,
you know, watching that progress over time, taking a long
term perspective, not watching, you know, not getting too caught
up in the short term moves, but also understanding that
(21:09):
investing is ownership, uh, and that she owns a very
small piece of these companies and that, you know, these
companies are being screened for loving their neighbors and promoting
human flourishing and, and those types of things. So I
really like that approach. Uh, John, and I think, you know,
whether you have her open that in her name and
you seed it and then help her or you know,
(21:31):
it's in your name. And, you know, I think at
18 you'd probably just go ahead and give it to her. Um,
you know, I think you're on the right track. Is
that helpful? Yeah.
S6 (21:39):
It is. Um, should I buy one company or try
and diversify with a couple of companies and spread the money,
but have enough in there to buy several shares?
S2 (21:51):
I think with a mutual fund, you could buy one,
but stay there. We'll talk a little bit more off
the air. We'll be right back. So glad to have
you with us today on Faith and Finance Live. Our
team is away today, so don't call in. But we
(22:11):
lined up some great questions in advance and we'll be
going to those here in just a moment. Let me
also remind you that the advice that I give each
day on this program is general in nature. We offer
principles and ideas that apply at a high level. They
are not personalized. So that's why you should always seek
professional financial advice. And if you'd like to find a
(22:33):
professional who shares your values, we of course, here at
Faith and Finance Live recommend the Certified Kingdom Advisor designation.
These are men and women who've met high standards, and
they've been trained to bring a biblical worldview of financial
decision making. You can find 1@faith.com. All right. Now let's
head back to the phones. Let's go to Mississippi. Hi, Miguel.
(22:53):
Thanks for calling. Go ahead.
S7 (22:55):
Thank you so much for your time and all you
do for us.
S2 (22:57):
Thank you. Absolutely.
S7 (22:59):
I'm almost 62, and I was thinking of going ahead
and taking my Social Security. Yeah. Um, it'll be probably
about $1,800 instead of me waiting till 67, which would
be $2,400. Somebody told me that the what? The break
point even. It's not worth me waiting till 67. Can
(23:23):
you explain why?
S2 (23:26):
Yes, I'd be happy to. It's a great question. Go ahead.
Finish your thought, though.
S7 (23:30):
Well, and I'm going to keep working and invest that
money of Social Security and but they'll take I can
only make 22,500, I believe.
S2 (23:42):
Right.
S7 (23:44):
And so how would that work? How would, would they
come out of my Social Security?
S2 (23:48):
Yes. Yeah, it's a great question. So you've asked something
that's on the minds of a lot of people. And
so I'm glad you raised it. Um, so let's let's
just kind of unpack this one piece at a time. First.
What happens if you take it early? Well, if you
take it at 62, to your point, your monthly checks
going to be reduced permanently. So the reduction that happens,
(24:11):
you will not get that back. You're locking that in.
And it's typically going to be reduced by about 25
to 30% compared to what you'd get at full retirement age,
which for you is is probably going to be 67
or close to it. Okay, so if you were going
to get 2000 a month at 62, you might get
(24:31):
1450 a month for life. And that reduction doesn't go away.
It's permanent. And since you're still working full time, uh,
you know, you're going to face that earnings test, which
you mentioned Social Security is going to withhold from your
check $1 for every $2. You go over that limit
(24:53):
until you reach your full retirement age. So that permanent reduction,
because you took it early, that's locked in. And then
you're going to get a further reduction of $1 for $2. Uh,
for every $2 you go over the limit, which kind
of flies in the face of part of your your
rationale here, which is, well, if I can take the
money now, you know, I don't need it so I
(25:16):
can invest it and get that going for me. Well,
not really, because you're going to get that check cut down,
which means you don't have the money to invest. Now,
that portion that's reduced, not the permanent reduction because you
took it early, but the portion that is taken out
because you earned over the limit, you will eventually get
(25:36):
that back later, but it's not going to happen until
you reach full retirement age. And then they're going to
increase your check a little bit every month until you
get paid back. But it might happen over ten years,
but you will be paid in full for the amount
that was withheld because you earned more than the limit,
if that makes sense. So what is the benefit of waiting? Well,
(26:00):
if you wait until full retirement age, you're going to
get 100% of your benefit. And then if you wait,
even beyond that, you can get about 8% more per year.
And the benefit there is that, you know, that guaranteed
increase of about 8% in the form of a reduction
by taking it early, you're not going to find an 8%
(26:23):
guaranteed return anywhere, even if you got 100% of the
money and you could put it in the stock market,
could you do better than 8%? Yes. But would you
get a guaranteed 8%? No, that doesn't exist. And so
I think that's why it does make sense, especially if
you don't need the money, because you're continuing to work
to go ahead and wait until full retirement age and
(26:44):
get 100% of your benefit. It really comes down to,
you know, three things. Uh, your health and longevity, which
only the Lord knows that now, if you were in
poor health, uh, you know, or didn't expect a long
retirement because of health considerations, again, that's in the Lord's hands.
(27:05):
But you could, you know, use your judgment and say, no,
I'm going to go ahead and take it early. But
if you're healthy and you don't need the money because
you've got income and you plan to continue to work
full time, which means you're going to get, you know,
up above that earnings limit, it's going to be reduced anyway.
Then I would absolutely wait. You know, here's the reality is,
(27:26):
you know, once you reach age 65, life expectancy. And
that's all it is. We're talking averages here for a
65 year old American male is about 82. And that's
about the break. Even. So, if you were to wait
until age 70 to take it and get a check
about 25% higher than your full retirement age check, you'd
(27:49):
need to earn that check, you know, for about 10
to 12 years to be paid back for all the
money you didn't get between full retirement age and 70.
But as long as you live to at least age 82,
then for the rest of your life you'd have a check, uh,
about 25% higher than you would have had, and you
(28:09):
would have been paid back for everything. You didn't get
between 67 and 70. So, boy, I've given you a
lot of information there. I'll stop and just see what
your thoughts are.
S7 (28:19):
You know, it makes great sense, Rob. It really does.
I mean, what I, what I was thinking of, you know,
maybe retiring and then just taking it, you know, a
small part, part time job and just just to, um,
for benefits only and then just go ahead and take
my Social Security, so. But, you know, I'm in great health,
(28:41):
thank God. And, uh, so I'm, I'm thinking of just
keep working. Yeah. Just keep working and then just just
let the Lord handle it for me.
S2 (28:51):
Yeah, I think that's a great idea. And he will.
And and keep in mind and, you know, I'm not
saying that you need to stay in the same line
of work. I don't even know what you do. But remember,
you know, God's work story began before the fall. Adam
and Eve were to cultivate and keep the garden. And
if you you look at the data on what happens
to your health and your sense of purpose and engagement,
(29:14):
not to mention how you can bless you know, those
with your wisdom and experience, I love you. Staying fully
engaged in work now that that work may change over time,
and at some point it may involve, quote, work you
know unto the Lord that doesn't involve pay. But this
idea that our culture drives, that, you know, we're supposed
(29:35):
to get a gold watch and a and a check
and just sit on a rocking chair. It's starting at 65.
That is just not a part of God's plan. And
I'm not saying that's what you're describing here, but I think,
you know, when we disengage, we are missing God's best
because God's picture of that elder at the city gate,
pouring wisdom into the next generation and staying engaged and
(29:58):
working with his or her hands as unto the Lord
to bring about human flourishing. And and, you know, just
there's something hardwired into us by creator God, who was
a worker with us being created in his image as
a worker, that gives us the opportunity to co-create with
him to bring about his redemptive purposes in the world.
(30:21):
And so, you know, in my view, we don't ever
stop working. I mean, I don't intend to ever retire unless,
you know, I have to. And even then, I'm going
to continue to serve the Lord in a different capacity.
So anyway, just think about that alongside the financial considerations,
if you will. Okay.
S7 (30:38):
I will, Rob I will. That was perfect. Thank you
so much.
S2 (30:42):
God bless you Miguel. I appreciate you, man, and thanks
for calling today. Call anytime. You've been a lot of
fun to talk to. Just a quick reminder. We're not
here today, so don't call in. But we're going to
head to a break and much more coming just after this.
Stay with us. We're so glad you've joined us for
(31:07):
Faith and Finance Live today here in our final segment,
let me remind you not to call in because we're
not live today, but we'd love for you to stick
around and enjoy the rest of the program. North Carolina
is where we're headed next, David. Go ahead sir.
S8 (31:20):
Hey, Rob, thanks for taking my call.
S2 (31:23):
Yes, sir.
S8 (31:23):
So I am 56 years old and I am about
I'm a state employee and about to take early retirement. Uh,
I'll end up with my health care covered and a
modest pension of about $1,400. But I'm immediately going back
to work in the private sector, making more than I
am now, actually. So my question is, do I take
(31:45):
that pension money and invest it in another qualified retirement
account for when I do retire? I plan to work
at least ten more years? Or do I use that
money to pay down debt, which the only debt I
have is a 6% mortgage and a 7% home equity
line of credit?
S2 (32:03):
Okay, how much do you have on the HELOC and
how much on the first mortgage?
S8 (32:08):
First mortgage is about 148 and the HELOC is about
11 grand.
S2 (32:13):
Okay. Got it. And based on you going back to
work in the private sector, are you going to have
enough to cover your bills and a little bit left over?
S8 (32:22):
Absolutely. Again, I'll be making actually more than I am now.
S2 (32:25):
Okay. Got it. Yeah. I would leave that retirement plan alone, uh,
and roll that out into an IRA, keep it in
a tax deferred environment so you're not paying any tax
on it. Uh, let it continue to grow on a
tax deferred basis and then just focus on redirecting, you know,
whatever surplus you have by going back to work after
(32:47):
your bills are paid toward initially paying off that HELOC
and then going after the first mortgage. But I, I
would not pull that money out of the the retirement
plan to do that. I'd let that keep growing. You know,
you're not going to have any impact of taxes that's
going to slow that growth. And then if you could
position yourself just by really keeping your lifestyle, you know,
(33:09):
a cap on it and redirecting all of your surplus
to getting out of debt. You know, by the time
you transition fully into what God has for you next,
even if it doesn't involve paid work in the next season,
hopefully that's eliminated. You know, your biggest expenses and now
you've got, uh, you know, Social Security and, you know,
if at any point you want to start pulling, you know,
(33:31):
a monthly income from your retirement plan, you could, but
your expenses are probably a good bit lower because you're
debt free at that point. I think that's the better
plan in my opinion.
S8 (33:41):
Okay. All right. Well, that sounds great. I certainly appreciate
I appreciate the advice.
S2 (33:46):
Absolutely. One other thing is, once you're 70.5, uh, you
would be able and I realize that's a good bit
down the road. But, um, you know, if you got
to the place where your bills were covered without the IRA, uh,
you could, you know, pull that money out as a
qualified charitable distribution, do the giving that you were already
doing out of after tax dollars from your IRA and
(34:08):
never pay tax on it because it went in tax free,
Deferred and then it comes out tax free. What an
amazing opportunity for you to, you know, to have never
paid tax on that money and get it into circulation
in the kingdom. So hopefully that helps you. David, we
appreciate your call today. Lord bless you, sir. Uh, let's
go to Kentucky. Hi, Tracy. Go ahead.
S9 (34:28):
Thank you for your show, Rob. And my question is,
my husband and I tithe. We have always because we
believe everything we have is God's. Um, but we just
really struggle with where we're at in church. Um, with
some of their financial decisions. And we feel like we're
the only two. We sit in business meetings and we think,
are we the only two that disagree with this? And
(34:49):
so writing at that tithe check, it's just really difficult
when we really don't agree with what they're investing money in.
I mean, what we pray, are we wrong? Is the
church wrong? God, everything we have is yours. We don't
want to withhold. We don't use it as an excuse
not to give, but we just feel like the money
could be spent in much better ways. Ace.
S2 (35:10):
Yeah, yeah. Well, it's a great question, Tracy. And I
think the big idea here, number one, is that we
absolutely need to be involved in. And you guys are.
So I'm not saying you're not, but we need to
be involved in and active in the local church. Uh,
you know, that's God's plan A, you know, we need
to be there serving and growing in a community of
(35:31):
believers in a in a Bible believing church. That's number one.
I think this matter of the tithe is kind of
a secondary issue in the sense that we need to
decide first, where has God planted you? And if you
then have concerns about any part of what's going on
at the church, I think you take those concerns to
the elders or the governing body of your church, uh,
(35:53):
because you want to be able to talk it through
and pray for wisdom and discernment in that conversation. And
is it possible that this is just a disagreement that
reasonable people may have, or is there something else there?
You know, I think you could also raise the issue
of your church as a membership meeting. I wouldn't in
any way gossip about the issue or cast aspersions, but
(36:15):
I think in a way that's respectful and and in
the channels that are that already exist, I would I
would raise the issue and ask for further clarification. Perhaps
you want to consider serving on your church finance committee
if there is one. I've done that in the past,
and that's a way not for you to just kind
of impose your desires necessarily, but for somebody who's willing
(36:37):
to say, listen, I want to get in the boat
with you and help provide, you know, some of that
wisdom and leadership and, you know, seeking the Lord through
prayer for discernment around how the church should conduct its finances.
But ultimately, I think if you feel your leadership refuses
to practice faithful stewardship with the church finances, then ultimately
(36:59):
you'd have a bigger question not necessarily about your tithe,
but really, is that the right church for you? And
because you have to be a faithful steward of the
resources God has given you. Have. Have you ever raised
these concerns with anybody on on the church leadership?
S9 (37:15):
No, no we haven't.
S2 (37:17):
Okay. And it could be that if you were to
do that, you know, you could get some clarification that might,
you know, help you understand why decisions are being made
the way they are. It's often difficult kind of sitting
in the pews to understand the full perspective of why
things are being done. I'm not saying everything necessarily is
being done exactly the way it should. They may or
(37:37):
may not be. But apart from you asking some questions
again in the right heart posture, with the right approach
to say, listen, I love this church and you know,
we're here and we're committed and we're faithful givers. But
just from where I sit, there are some questions I
have that I'd love to be able to dig a
little deeper on and and see if somebody can help
(37:58):
walk you through that. I would imagine they would welcome
that conversation. I know I always did when I was
the chairman of the finance committee at churches I've been
a part of in the past, because otherwise you don't
have an opportunity to explain the rationale and the decision
making that's going on. So I would encourage you, perhaps
as a next step, to maybe take a few a
(38:19):
few days for you and your husband just to kind
of pray through it. Lord, give us wisdom as to
how we should approach this. And if you legitimately have
some questions or concerns, you know, take that, uh, you know,
to the elders or, you know, perhaps you, you know,
ask your pastor what's the best channel to explore this
and see where that goes. Does that make sense?
S9 (38:38):
Yeah. It does. Yes. Thank you.
S2 (38:40):
Okay. Absolutely. Well, listen, I appreciate you raising this question because,
you know, we should be givers. And I believe that
should start with our local church. I think that's very
clear in Scripture. And yet there are going to be,
from time to time, questions or concerns. Now, at the
end of the day, if this is where God has
planted you and you feel like you know this is
your church home, I think there's some element of just saying, hey,
(39:03):
we're going to trust the the authorities that God has
put in place. But that doesn't mean we can't ask
some questions along the way. God bless you. Uh. To Louisiana. Hi, Judy.
Go ahead.
S4 (39:12):
Hello.
S2 (39:13):
Hi. How can I serve you?
S10 (39:14):
I had some questions. I'm trying to decide how to
invest the monies that I have. I'm 70. My husband
is 75. And we made some bad, bad financial decisions
in our early years. Making a lot of money didn't invest. Right.
And then my husband ended up with prostate cancer, and
(39:36):
I end up losing my job. So we went through
a very, very difficult time. And we have like 15 grandkids.
And at this point in life, we're trying to at
least get back on track. He's still going through a dilemma,
but I have about, I'd say about $30,000 that I
want to invest into something that if something happened, you know,
(40:00):
maybe I will have something for my kids are just,
you know, a safety net for my family. And I'm
not into investing. I don't know what to do with it.
I have a little bit of money in fidelity stocks,
and I just put it there and I left it there.
I think I have about $20,000 in there, which I
(40:23):
don't know if I have it in. I have it
in diversified funds, I think, and just want some advice
what to do at this stage in life that if
something happened, I would at least have something there for
my grandkids.
S2 (40:36):
Yes, I can certainly understand that. Judy, do you have
separate from this money what I call an emergency fund,
which is liquid reserves?
S10 (40:43):
Yes.
S2 (40:44):
Okay, great. Yeah. So this is it's a little challenging
in the sense that, you know, when you've got 30
or $40,000 to invest, you kind of have to make
those decisions yourself, because most investment advisors are going to
require a minimum of 100,000. That's just the way their
businesses are set up. So I think, you know, your
options are you could use what's called a robo advisor,
(41:07):
but you'd have to be comfortable using the internet. But
the Schwab Intelligent Portfolios would be one. You could use
another one called betterment. And they take a lot of
the guesswork out because you could put that money in,
you'd answer a series of questions, and then it would
allocate the money based on the answers to your questions.
And it would use kind of the broad market indexes
(41:27):
to determine how much to put in stocks and how
much to put in bonds. So again, if you're comfortable
in the internet, you could go to sound, excuse me,
the the Schwab Intelligent Portfolios. Uh, another option would be to, uh,
visit with our friends at Sound Mind investing. Uh, sound
mind investing. They could help you, give you some recommendations
(41:51):
on some mutual funds to put it into, but that
would allow you to move the money into an account,
let's say at Fidelity or Schwab. And then you could
buy some really high quality, low cost mutual funds and
then just kind of forget about it and let it
grow and it's going to go up and down with
the market. But over time it should increase. And then
you might have, you know, a nice little nest egg
that you could pass on at your death. You'd want
(42:13):
to assign beneficiaries to that account so that it's split
amongst your children or grandchildren however you want to do that.
So those two options sound mind investing or the Schwab
Intelligent Portfolios? I think both of those could suffice for
a 30 to $40,000 investment, and take a lot of
the guesswork out of deciding which investments to choose. Judy,
(42:35):
I hope that's helpful to you. We appreciate your call today.
May the Lord bless you. That's going to do it
for us. So thankful for my team today, Jim, Anthony, Dan, Amy,
and the rest of the team. Thank you for being
here as well. Faith and Finance Live is a partnership
between Moody Radio and Faith. I hope you have a
great rest of your day and come back and join
us next time. We'll see you then. Bye bye.
Today's faith and finance live is actually not live, so
our phone lines are not open.
S2 (00:08):
Happy Thanksgiving! We hope you're enjoying the day with family
and friends and thanking God for his many blessings. Hi,
I'm Rob West. You know, gratitude was certainly on the
minds of those at the first Thanksgiving in 1621. But
who were those on hand for that celebration in Plymouth
Colony some 400 years ago? Why were they there? And
(00:29):
just what were they celebrating? We'll find out today. Then
we have some great questions lined up for you. But
don't call in today because we're prerecorded. This is faith
and finance. Live. Biblical wisdom for your financial journey. Most
of us remember from grade school that the Plymouth Colony
(00:50):
in present day Massachusetts was founded in 1620 by a
group we know as the pilgrims, also called separatists. Tests.
These settlers sought to break away entirely from the Church
of England, which they felt had strayed from biblical teaching.
Their journey is one of remarkable faith and courage as
they pursued the freedom to worship as their conscience dictated.
(01:13):
In contrast, the Puritans who settled nearby in Massachusetts Bay
colony in 1630 shared some beliefs but followed a different approach.
Unlike the separatists, Puritans wanted to remain within the Church
of England, hoping to reform it from within. This earned
them the name non separatists as they wanted to purify,
(01:35):
not abandon, the church. Although their paths differed, both groups
stories remain deeply intertwined. In the early history of America,
the pilgrims faced intense persecution in England for worshipping outside
the established church and holding the Bible as their final authority.
In 1609, they fled to Leiden, Holland, hoping to worship freely. However,
(01:58):
even in Holland they encounter challenges and some were arrested
and brought back to England. Realizing that their aspirations for
freedom wouldn't be fully realized in Europe, they made the
significant decision to sail to the New World, where they
hoped to live according to their beliefs. Around 120 men,
women and children boarded the Mayflower, embarking on an uncertain
(02:21):
voyage across the Atlantic. Not everyone was driven by faith.
Some known as adventurers, joined for financial opportunities, though such
opportunities would prove difficult to come by. For the pilgrims,
the journey was primarily about worshipping freely, escaping religious oppression,
and starting a new life rooted in faith. Today, Thanksgiving
(02:43):
is often a celebration of gratitude for God's provision for
the pilgrims. However, thanksgiving came out of struggle and sacrifice
for religious freedom, a reminder of the resilience required to
secure that right. Their journey is a significant part of
our heritage and something to remember as we give thanks.
The voyage to the new world was challenging. They faced
(03:06):
delays and the Atlantic crossing was rough. So they arrived
in November instead of summer, leaving them no time to
plant crops. This led to what became known as the
Starving Time, where disease and lack of food took a
heavy toll. Nearly half of their group didn't survive that
brutal first winter. Despite mistakes in planning, the pilgrims established
(03:28):
a positive relationship with some of the Native Americans in
the area. One Native American named Squanto, who had previously
learned English, was especially instrumental, acting as their interpreter. He
taught the pilgrims vital survival skills, like how to plant
corn and where to fish. Helping them learn to sustain
themselves in a foreign land. With Squanto's guidance, they planted
(03:52):
crops in the spring of 1621 and were able to
reap a modest but vital harvest that fall. To honor
God for his provision, they invited their Native American neighbors
to a thanksgiving feast. By then, only 22 men for
married women and 25 teenagers and children remained from the
original group. The Native Americans who joined them brought food,
(04:15):
nearly doubling the gathering size and marking one of America's
first potluck celebrations. Together, they celebrated survival, provision and friendship,
a testimony to faith and resilience. Years later, William Bradford,
Plymouth Colony's longtime governor, wrote about this journey in his
book of Plymouth Plantation, quoting Hebrews 1113 through 16 to
(04:39):
describe the faith of those who endured. The passage reads,
all these people were still living by faith when they died,
admitting they were foreigners and strangers on earth. They were
looking for a country of their own, longing for a
better country, a heavenly one. Therefore, God is not ashamed
to be called their God, for he has prepared a
(05:00):
city for them. Bradford and the pilgrims saw this verse
as capturing the heart of their journey, knowing that their
true home was with God. As we gather for Thanksgiving
this year, may we remember the story of their courage, faith,
and gratitude for the freedom to worship as we choose
from all of us here at Faith fi. We wish
you a happy and peaceful Thanksgiving. We'll be right back.
S1 (05:38):
We're faith and finance live, and we talk about our
telephone number often because we usually are live. But today
the program is prerecorded. So if you hear a mention
of the phone number, please don't call us. But you
can find us online at faith. Lecom.
S2 (05:56):
We're going to begin in Ohio today, Bob. Go ahead.
S3 (06:00):
Yes, I've been offered a settlement, um, from a company, um,
and I had no experience. It's not a huge amount
of money or anything, but the, uh, law firm handling this, uh,
is encouraging me to accept the offer, uh, instead of
(06:21):
pursuing prolonged litigation. Um, um, and I realized probably the
longer it would take, it's already been a few years
they've been working on this. So, you know, I'm probably
not going to get a lot in. The longer you
drag it out, it's probably going to be a lot
more in fees and whatnot. But I just thought since
it's a very unusual situation that I find myself in,
(06:44):
if you had any comments or thoughts that, uh, you
whether or not I just accept the settlement and call
it quits.
S2 (06:52):
Yeah, well, I appreciate that question. And, you know, it's
a it can feel like a big decision. Um, and
I love that you're really thinking through this thoughtfully. Um,
I would say kind of bottom line is because I
don't know the situation or the dollars or kind of
what the issue is at the heart of this lawsuit.
(07:13):
But I would just say at a high level, if
the settlement amount is what you would consider fair and
perhaps and this is a big deal, provide some closure.
I think it can make sense to take it. You know,
if it seems too low and, uh, they, you know,
you have a strong case. It may be worth continuing,
but only with sound legal counsel. But I think either way,
(07:35):
you really should never sign a settlement agreement without an
attorney reviewing it first. It sounds like there is an
attorney involved. Uh, but, you know, I think at the
end of the day, you really need to understand the
strength of the case, the evidence, the cost and stress
of going to court. And, you know, I think, you know,
(07:56):
an attorney can really give you a good understanding of
what's a realistic court outcome and compare that to the
settlement offer. And then, you know, as you said, you
need to evaluate the legal fees and, and the other expenses, uh,
that would be associated with this both in money and time, uh,
to keep this moving. And, you know, I think at
(08:17):
the end of the day, um, you know, in your 70s,
I would ask the question, do I have the time,
the energy, the peace of mind to go through months
or even years of legal process? And sometimes closure is
worth more than a potentially larger number down the road. So, um,
I don't know if that's helpful at all, but maybe
a few other things to think about.
S3 (08:40):
Yeah, it's sort of the the way I've been considering this. So, uh,
it's pretty. You're pretty much Confirming my at least my
feelings toward this. Um, you know, and, you know, the
law firm did indicate that you're, you know, I know that, uh,
the fees are probably going to be enough that I'll
(09:03):
probably be lucky to come out with half of what,
what the settlement is. But when it's all said and done. But, uh. Yeah,
you're right. That that way, it's, uh, finished, and I
can move on with things.
S2 (09:14):
Yeah, I think that's right. I think that's an appropriate
way to think about it. But, you know, if you're
still wrestling with it, I would, you know, really use
your attorney as a good sounding board there just to
think through, you know, the time, the commitment, you know,
how long this could go on, the expense, what a
realistic outcome might be. And and then, you know, pray
through it. Ask the Lord to give you wisdom. James
one five if we lack wisdom, we should ask the Lord,
(09:35):
and he'll give it to you. And um, so let's
just trust him in that. But, uh, hopefully it's giving
you at least a few more things to think about. Bob. Uh,
call any time, sir, if we can be of help
to you. Lord bless you. Uh, let's go to Illinois. Hi, Gregory.
Go ahead.
S4 (09:49):
Yes. God bless. How you doing today?
S2 (09:52):
I'm doing great, Gregory. How are you?
S4 (09:54):
I'm great. Great. Yeah. I got an old financial question
for you. Go back in the front all the way
in the Old Testament. And my question is, my question
is concerning tithing offering. I'm hearing some different teaching now,
according to the Old Testament law, are teaching that it's
(10:16):
still the same traditional that you propose to give 10%.
And I'm hearing the other side of the coin that
according to New Testament, that we're not caught up on
the law of giving according to the epistles, you give
according to your heart. So I just want to hear
what you have to say.
S2 (10:35):
Yeah. So here's my thought on that. So, you know,
in truth, tithing is an Old Testament concept. And in fact,
while the word literally means a 10th. So that's where
we get the 10% idea from. There were actually three
tithes in the Old Testament. There was one for the Levites,
one for the temple and one for the poor, and
that one was every three years. So if you add
(10:57):
it up, the quote unquote tie, than the Old Testament
was basically 23 and a third percent every single year.
And that was just the beginning. Then there was additional
offerings that were on top of that. Uh, and we could,
you know, go into all of those now old, uh,
you know, when we look at Old Testament giving, uh,
(11:17):
you know, that clearly was under the law of Moses, uh,
we're under now the law of Christ. So what happened
when Jesus entered the scene? Well, I think he took
giving to an even higher level. Uh, I would say
he showed a different way of giving what I'll call
whole life generosity. He gave his life as the ultimate
sacrifice on our behalf to pay the penalty for our sin. Uh,
(11:41):
so when he talked about money, he taught when we
look at the scriptures that we should give as we've
been blessed. In Luke 638 he said, to whom much
is given, much is required. In Luke 1248 he, of course,
commended the most famous giver. We don't know her name,
but we know she was a poor widow who gave
her last two copper coins. We also know he challenged
(12:02):
the rich young ruler to give away all of his wealth.
So I think there is some confusion on this. And
what I would say is that also, in truth, Jesus
referenced the tithe, even though again, I would agree with
you that we're no longer under the Law of Moses.
So what do we do with all of that? Well,
I think given for those of us who have seen
what he's done on our behalf on the cross, we
(12:25):
embrace a New Testament model of giving, which I would
say is, you know, the hallmarks of New Testament giving
are giving freely giving, sacrificially giving proportionately to whom much
is given, much is required. I would say it's also giving,
giving cheerfully. We don't want to be legalistic about it.
(12:45):
We don't want to do it as as God's Word
says under compulsion. Second Corinthians nine seven. Each of you
should give what he has decided in his heart, not
reluctantly or under compulsion. For God loves a cheerful giver.
So I think you're right. God wants our hearts, but
he does also want us to be givers. I mean,
that's clear throughout the whole of Scripture. And I think, Gregory,
(13:08):
it's the ultimate demonstration of our trust in the Lord,
because giving requires that we open our hands. It calibrates
our hearts to God's. It gets our focus off our
own mini kingdoms and gets our, you know, focus on
God's kingdom through our generosity. It allows us to participate
with him. So what do we do with the tithe? Well,
(13:29):
I would say the tithe is a great guideline for
our giving because it's proportionate. It's on the increase. It
starts with the local church, which is God's Plan A,
but I don't think it ends there. I think to
the point of of what we see in Jesus teaching it. Really,
he raises the bar. And so I like what Randy Alcorn,
the author, says that the tithe is the training wheels
(13:51):
of giving. It's our starting point. And then we look
to give beyond that sacrificially. So what are your thoughts
on that? I just have a few seconds left.
S4 (14:00):
Man, that sounds great. I mean, that was wonderful. And
it gave me some clear insight. So that was beautiful
I appreciate you. Thank you so much.
S2 (14:10):
Absolutely, Gregory. Well, I appreciate you. And thanks for calling
and raising this question. You know, at the end of
the day, uh, it's not what God wants from us.
It's what he wants for us. And I think giving
is one of the amazing opportunities we have to be
connected into God's activity. Hey, we're going to take a
quick break and then be back with much more stick around.
(14:35):
Thanks for joining us today on Faith and Finance Live. Again,
we're not here today. Our team is away from the studio,
so don't call in. But we've got some great questions
coming up. In fact, let's go to one of those
right now. Uh, let's go to, uh, Tennessee. Hi, Valerie.
Go ahead.
S5 (14:50):
First of all, I'd like to say thank you so much.
My husband and I look forward to listen to your show.
And we've learned so much from you guys. And thank you.
S2 (14:57):
Well, that's great. Thank you for saying that.
S5 (14:59):
Yeah. My question today is on Social Security. Um, I've,
I started drawing last year at the age of 65.
I've been receiving emails saying that Donald Trump is going
to be doing away with Social Security and increasing Social
Security or retirement age to 70. If he does, um,
which I, I didn't call the Social Security office here
(15:21):
in town back up for just a second and asked
him about this. Honestly, they don't know. They don't have
any answers. So, you know, it's just I don't know
what to do if I lose my Social Security now
after retiring and then just working part time, I just
kind of want to know what you know about what's
going on.
S2 (15:37):
Yeah, well, it's a great question, Valerie. And I can
understand how it's weighing on you. And let me just
kind of unpack each piece of this, because it's a
great question and because, you know, the bottom line of
all this, but I'll unpack it in more detail because
you are already receiving benefits. Um, none of these changes
that are being floated would reduce what you're currently receiving,
(15:59):
but let's walk through it. So once you file and
begin Social Security benefits, your award is locked in your benefits.
So your monthly benefit amount, uh, you know, plus cost
of living adjustments along the way, it doesn't retroactively get
cut because of changes in the law. Um, so you
might see some headlines or get a kind of a
(16:21):
click bait email that says, oh, they're raising the retirement
age to age 70. And what they mean by that
is they're talking about raising the full retirement age to
age 70. But again, if that happened and it certainly, um,
only being discussed at best, it would only affect people
in the future, not those already filing. Now, what about
(16:42):
the Social Security trust fund? Well, the Social Security Trust
Fund is expected to be exhausted in the next decade
unless Congress acts. So some of the policy proposals. And
by the way, even if it was at 0 in
20 34 or 2035, when it's projected to be, if
(17:02):
nothing changes, they'd still be able to pay with current
revenues at that time, 80% of benefits. So it's not
like everybody's Social Security goes away at that point, but
they are discussing policy proposals to shore it up so
it doesn't run out. And I would say just in
my opinion, and that's all it is. Um, I think
(17:23):
that's what would happen. I can't imagine, uh, policy makers, uh,
you know, allowing anything like that to happen, even a
reduction from 100% of benefits to 80, just because that's
too important for the voter base. You know, they'd have
to look their constituents in the eye and explain why
they didn't make changes to shore up Social Security. And
(17:45):
I just think they're going to do that. So what
are some of those proposals that are being floated? Well,
one of them is raising the full retirement age from 67,
where it is today, to 69 or even 70 for
younger workers. But Donald Trump has actually publicly stated he
will not raise the retirement age or cut benefits for
(18:06):
current or near retirees. So you would clearly fit into
that category. Uh, you know, so I think at the
end of the day, uh, you know, you don't really
need to be concerned about this. Yes. Changes will likely
come between now and that point where it's going to
run dry, but it will almost certainly only affect those
(18:27):
that have not started collecting, if that makes sense, because
you'd be grandfathered in under the rules in force when
you filed.
S5 (18:35):
Great. All right. Great answer. Thank you so much. You
have put me at ease.
S2 (18:39):
All right. Thanks for calling, Barry. Lord bless you. And
thanks for your kind remarks about the program. That means
a lot. And let's go to Tennessee. John. Go ahead.
S6 (18:46):
Yes, Rob, thank you for taking my call. Sure. I
agree with the previous caller about your program. It's a
big help. Um. Thank you. Anyway, my granddaughter would like to, uh,
start her investment account, and she has $500 to start it.
Long term, of course. And I'm going to help her
(19:07):
because I have a little bit of experience. But anyway,
do I go into fidelity and start with stocks, or
do I do something like the Timothy plans where they're
more of a mutual?
S2 (19:20):
Yeah, it's a great question. And I think, I mean,
if it was a younger child, I kind of like
the idea of, uh, you know, us or you in
this case, you know, thinking about maybe buying in some
fractional shares of companies that your granddaughter would, you know,
be familiar with. So through an app like stash or
(19:42):
some of the other investment platforms, um, you know, you
can go in and buy with even just a few dollars,
you know, a very small fractional share. So like a,
you know, less than one share of an actual company.
And then it would be kind of fun because maybe
it's a company she knows and likes and visits and
she could keep up with it. And it might be
(20:04):
a fun way to introduce her to investing. But somebody
who's 18, I think we really need to start to
lay the groundwork for what does what does real investing
look like with proper diversification? Because what we don't want
is for her to be too highly concentrated in one company.
We want her to learn, you know, the the understanding
of principle, the principle of diversification from Ecclesiastes, uh, that
(20:28):
we don't all want all of our eggs in one basket.
So I think for that reason, I like you taking
a basket approach, which would either be an index fund
or a mutual fund. And I like what you said
there right at the end, which is let's start early.
And introducing her to faith based investing, uh, and giving
her the opportunity to understand how she can align her
(20:49):
values with her investments. So I think Timothy plan would
be a great option. And, you know, she could learn
some of the companies in there and maybe the top
ten holdings you could begin to talk to her about,
you know, watching that progress over time, taking a long
term perspective, not watching, you know, not getting too caught
up in the short term moves, but also understanding that
(21:09):
investing is ownership, uh, and that she owns a very
small piece of these companies and that, you know, these
companies are being screened for loving their neighbors and promoting
human flourishing and, and those types of things. So I
really like that approach. Uh, John, and I think, you know,
whether you have her open that in her name and
you seed it and then help her or you know,
(21:31):
it's in your name. And, you know, I think at
18 you'd probably just go ahead and give it to her. Um,
you know, I think you're on the right track. Is
that helpful? Yeah.
S6 (21:39):
It is. Um, should I buy one company or try
and diversify with a couple of companies and spread the money,
but have enough in there to buy several shares?
S2 (21:51):
I think with a mutual fund, you could buy one,
but stay there. We'll talk a little bit more off
the air. We'll be right back. So glad to have
you with us today on Faith and Finance Live. Our
team is away today, so don't call in. But we
(22:11):
lined up some great questions in advance and we'll be
going to those here in just a moment. Let me
also remind you that the advice that I give each
day on this program is general in nature. We offer
principles and ideas that apply at a high level. They
are not personalized. So that's why you should always seek
professional financial advice. And if you'd like to find a
(22:33):
professional who shares your values, we of course, here at
Faith and Finance Live recommend the Certified Kingdom Advisor designation.
These are men and women who've met high standards, and
they've been trained to bring a biblical worldview of financial
decision making. You can find 1@faith.com. All right. Now let's
head back to the phones. Let's go to Mississippi. Hi, Miguel.
(22:53):
Thanks for calling. Go ahead.
S7 (22:55):
Thank you so much for your time and all you
do for us.
S2 (22:57):
Thank you. Absolutely.
S7 (22:59):
I'm almost 62, and I was thinking of going ahead
and taking my Social Security. Yeah. Um, it'll be probably
about $1,800 instead of me waiting till 67, which would
be $2,400. Somebody told me that the what? The break
point even. It's not worth me waiting till 67. Can
(23:23):
you explain why?
S2 (23:26):
Yes, I'd be happy to. It's a great question. Go ahead.
Finish your thought, though.
S7 (23:30):
Well, and I'm going to keep working and invest that
money of Social Security and but they'll take I can
only make 22,500, I believe.
S2 (23:42):
Right.
S7 (23:44):
And so how would that work? How would, would they
come out of my Social Security?
S2 (23:48):
Yes. Yeah, it's a great question. So you've asked something
that's on the minds of a lot of people. And
so I'm glad you raised it. Um, so let's let's
just kind of unpack this one piece at a time. First.
What happens if you take it early? Well, if you
take it at 62, to your point, your monthly checks
going to be reduced permanently. So the reduction that happens,
(24:11):
you will not get that back. You're locking that in.
And it's typically going to be reduced by about 25
to 30% compared to what you'd get at full retirement age,
which for you is is probably going to be 67
or close to it. Okay, so if you were going
to get 2000 a month at 62, you might get
(24:31):
1450 a month for life. And that reduction doesn't go away.
It's permanent. And since you're still working full time, uh,
you know, you're going to face that earnings test, which
you mentioned Social Security is going to withhold from your
check $1 for every $2. You go over that limit
(24:53):
until you reach your full retirement age. So that permanent reduction,
because you took it early, that's locked in. And then
you're going to get a further reduction of $1 for $2. Uh,
for every $2 you go over the limit, which kind
of flies in the face of part of your your
rationale here, which is, well, if I can take the
money now, you know, I don't need it so I
(25:16):
can invest it and get that going for me. Well,
not really, because you're going to get that check cut down,
which means you don't have the money to invest. Now,
that portion that's reduced, not the permanent reduction because you
took it early, but the portion that is taken out
because you earned over the limit, you will eventually get
(25:36):
that back later, but it's not going to happen until
you reach full retirement age. And then they're going to
increase your check a little bit every month until you
get paid back. But it might happen over ten years,
but you will be paid in full for the amount
that was withheld because you earned more than the limit,
if that makes sense. So what is the benefit of waiting? Well,
(26:00):
if you wait until full retirement age, you're going to
get 100% of your benefit. And then if you wait,
even beyond that, you can get about 8% more per year.
And the benefit there is that, you know, that guaranteed
increase of about 8% in the form of a reduction
by taking it early, you're not going to find an 8%
(26:23):
guaranteed return anywhere, even if you got 100% of the
money and you could put it in the stock market,
could you do better than 8%? Yes. But would you
get a guaranteed 8%? No, that doesn't exist. And so
I think that's why it does make sense, especially if
you don't need the money, because you're continuing to work
to go ahead and wait until full retirement age and
(26:44):
get 100% of your benefit. It really comes down to,
you know, three things. Uh, your health and longevity, which
only the Lord knows that now, if you were in
poor health, uh, you know, or didn't expect a long
retirement because of health considerations, again, that's in the Lord's hands.
(27:05):
But you could, you know, use your judgment and say, no,
I'm going to go ahead and take it early. But
if you're healthy and you don't need the money because
you've got income and you plan to continue to work
full time, which means you're going to get, you know,
up above that earnings limit, it's going to be reduced anyway.
Then I would absolutely wait. You know, here's the reality is,
(27:26):
you know, once you reach age 65, life expectancy. And
that's all it is. We're talking averages here for a
65 year old American male is about 82. And that's
about the break. Even. So, if you were to wait
until age 70 to take it and get a check
about 25% higher than your full retirement age check, you'd
(27:49):
need to earn that check, you know, for about 10
to 12 years to be paid back for all the
money you didn't get between full retirement age and 70.
But as long as you live to at least age 82,
then for the rest of your life you'd have a check, uh,
about 25% higher than you would have had, and you
(28:09):
would have been paid back for everything. You didn't get
between 67 and 70. So, boy, I've given you a
lot of information there. I'll stop and just see what
your thoughts are.
S7 (28:19):
You know, it makes great sense, Rob. It really does.
I mean, what I, what I was thinking of, you know,
maybe retiring and then just taking it, you know, a
small part, part time job and just just to, um,
for benefits only and then just go ahead and take
my Social Security, so. But, you know, I'm in great health,
(28:41):
thank God. And, uh, so I'm, I'm thinking of just
keep working. Yeah. Just keep working and then just just
let the Lord handle it for me.
S2 (28:51):
Yeah, I think that's a great idea. And he will.
And and keep in mind and, you know, I'm not
saying that you need to stay in the same line
of work. I don't even know what you do. But remember,
you know, God's work story began before the fall. Adam
and Eve were to cultivate and keep the garden. And
if you you look at the data on what happens
to your health and your sense of purpose and engagement,
(29:14):
not to mention how you can bless you know, those
with your wisdom and experience, I love you. Staying fully
engaged in work now that that work may change over time,
and at some point it may involve, quote, work you
know unto the Lord that doesn't involve pay. But this
idea that our culture drives, that, you know, we're supposed
(29:35):
to get a gold watch and a and a check
and just sit on a rocking chair. It's starting at 65.
That is just not a part of God's plan. And
I'm not saying that's what you're describing here, but I think,
you know, when we disengage, we are missing God's best
because God's picture of that elder at the city gate,
pouring wisdom into the next generation and staying engaged and
(29:58):
working with his or her hands as unto the Lord
to bring about human flourishing. And and, you know, just
there's something hardwired into us by creator God, who was
a worker with us being created in his image as
a worker, that gives us the opportunity to co-create with
him to bring about his redemptive purposes in the world.
(30:21):
And so, you know, in my view, we don't ever
stop working. I mean, I don't intend to ever retire unless,
you know, I have to. And even then, I'm going
to continue to serve the Lord in a different capacity.
So anyway, just think about that alongside the financial considerations,
if you will. Okay.
S7 (30:38):
I will, Rob I will. That was perfect. Thank you
so much.
S2 (30:42):
God bless you Miguel. I appreciate you, man, and thanks
for calling today. Call anytime. You've been a lot of
fun to talk to. Just a quick reminder. We're not
here today, so don't call in. But we're going to
head to a break and much more coming just after this.
Stay with us. We're so glad you've joined us for
(31:07):
Faith and Finance Live today here in our final segment,
let me remind you not to call in because we're
not live today, but we'd love for you to stick
around and enjoy the rest of the program. North Carolina
is where we're headed next, David. Go ahead sir.
S8 (31:20):
Hey, Rob, thanks for taking my call.
S2 (31:23):
Yes, sir.
S8 (31:23):
So I am 56 years old and I am about
I'm a state employee and about to take early retirement. Uh,
I'll end up with my health care covered and a
modest pension of about $1,400. But I'm immediately going back
to work in the private sector, making more than I
am now, actually. So my question is, do I take
(31:45):
that pension money and invest it in another qualified retirement
account for when I do retire? I plan to work
at least ten more years? Or do I use that
money to pay down debt, which the only debt I
have is a 6% mortgage and a 7% home equity
line of credit?
S2 (32:03):
Okay, how much do you have on the HELOC and
how much on the first mortgage?
S8 (32:08):
First mortgage is about 148 and the HELOC is about
11 grand.
S2 (32:13):
Okay. Got it. And based on you going back to
work in the private sector, are you going to have
enough to cover your bills and a little bit left over?
S8 (32:22):
Absolutely. Again, I'll be making actually more than I am now.
S2 (32:25):
Okay. Got it. Yeah. I would leave that retirement plan alone, uh,
and roll that out into an IRA, keep it in
a tax deferred environment so you're not paying any tax
on it. Uh, let it continue to grow on a
tax deferred basis and then just focus on redirecting, you know,
whatever surplus you have by going back to work after
(32:47):
your bills are paid toward initially paying off that HELOC
and then going after the first mortgage. But I, I
would not pull that money out of the the retirement
plan to do that. I'd let that keep growing. You know,
you're not going to have any impact of taxes that's
going to slow that growth. And then if you could
position yourself just by really keeping your lifestyle, you know,
(33:09):
a cap on it and redirecting all of your surplus
to getting out of debt. You know, by the time
you transition fully into what God has for you next,
even if it doesn't involve paid work in the next season,
hopefully that's eliminated. You know, your biggest expenses and now
you've got, uh, you know, Social Security and, you know,
if at any point you want to start pulling, you know,
(33:31):
a monthly income from your retirement plan, you could, but
your expenses are probably a good bit lower because you're
debt free at that point. I think that's the better
plan in my opinion.
S8 (33:41):
Okay. All right. Well, that sounds great. I certainly appreciate
I appreciate the advice.
S2 (33:46):
Absolutely. One other thing is, once you're 70.5, uh, you
would be able and I realize that's a good bit
down the road. But, um, you know, if you got
to the place where your bills were covered without the IRA, uh,
you could, you know, pull that money out as a
qualified charitable distribution, do the giving that you were already
doing out of after tax dollars from your IRA and
(34:08):
never pay tax on it because it went in tax free,
Deferred and then it comes out tax free. What an
amazing opportunity for you to, you know, to have never
paid tax on that money and get it into circulation
in the kingdom. So hopefully that helps you. David, we
appreciate your call today. Lord bless you, sir. Uh, let's
go to Kentucky. Hi, Tracy. Go ahead.
S9 (34:28):
Thank you for your show, Rob. And my question is,
my husband and I tithe. We have always because we
believe everything we have is God's. Um, but we just
really struggle with where we're at in church. Um, with
some of their financial decisions. And we feel like we're
the only two. We sit in business meetings and we think,
are we the only two that disagree with this? And
(34:49):
so writing at that tithe check, it's just really difficult
when we really don't agree with what they're investing money in.
I mean, what we pray, are we wrong? Is the
church wrong? God, everything we have is yours. We don't
want to withhold. We don't use it as an excuse
not to give, but we just feel like the money
could be spent in much better ways. Ace.
S2 (35:10):
Yeah, yeah. Well, it's a great question, Tracy. And I
think the big idea here, number one, is that we
absolutely need to be involved in. And you guys are.
So I'm not saying you're not, but we need to
be involved in and active in the local church. Uh,
you know, that's God's plan A, you know, we need
to be there serving and growing in a community of
(35:31):
believers in a in a Bible believing church. That's number one.
I think this matter of the tithe is kind of
a secondary issue in the sense that we need to
decide first, where has God planted you? And if you
then have concerns about any part of what's going on
at the church, I think you take those concerns to
the elders or the governing body of your church, uh,
(35:53):
because you want to be able to talk it through
and pray for wisdom and discernment in that conversation. And
is it possible that this is just a disagreement that
reasonable people may have, or is there something else there?
You know, I think you could also raise the issue
of your church as a membership meeting. I wouldn't in
any way gossip about the issue or cast aspersions, but
(36:15):
I think in a way that's respectful and and in
the channels that are that already exist, I would I
would raise the issue and ask for further clarification. Perhaps
you want to consider serving on your church finance committee
if there is one. I've done that in the past,
and that's a way not for you to just kind
of impose your desires necessarily, but for somebody who's willing
(36:37):
to say, listen, I want to get in the boat
with you and help provide, you know, some of that
wisdom and leadership and, you know, seeking the Lord through
prayer for discernment around how the church should conduct its finances.
But ultimately, I think if you feel your leadership refuses
to practice faithful stewardship with the church finances, then ultimately
(36:59):
you'd have a bigger question not necessarily about your tithe,
but really, is that the right church for you? And
because you have to be a faithful steward of the
resources God has given you. Have. Have you ever raised
these concerns with anybody on on the church leadership?
S9 (37:15):
No, no we haven't.
S2 (37:17):
Okay. And it could be that if you were to
do that, you know, you could get some clarification that might,
you know, help you understand why decisions are being made
the way they are. It's often difficult kind of sitting
in the pews to understand the full perspective of why
things are being done. I'm not saying everything necessarily is
being done exactly the way it should. They may or
(37:37):
may not be. But apart from you asking some questions
again in the right heart posture, with the right approach
to say, listen, I love this church and you know,
we're here and we're committed and we're faithful givers. But
just from where I sit, there are some questions I
have that I'd love to be able to dig a
little deeper on and and see if somebody can help
(37:58):
walk you through that. I would imagine they would welcome
that conversation. I know I always did when I was
the chairman of the finance committee at churches I've been
a part of in the past, because otherwise you don't
have an opportunity to explain the rationale and the decision
making that's going on. So I would encourage you, perhaps
as a next step, to maybe take a few a
(38:19):
few days for you and your husband just to kind
of pray through it. Lord, give us wisdom as to
how we should approach this. And if you legitimately have
some questions or concerns, you know, take that, uh, you know,
to the elders or, you know, perhaps you, you know,
ask your pastor what's the best channel to explore this
and see where that goes. Does that make sense?
S9 (38:38):
Yeah. It does. Yes. Thank you.
S2 (38:40):
Okay. Absolutely. Well, listen, I appreciate you raising this question because,
you know, we should be givers. And I believe that
should start with our local church. I think that's very
clear in Scripture. And yet there are going to be,
from time to time, questions or concerns. Now, at the
end of the day, if this is where God has
planted you and you feel like you know this is
your church home, I think there's some element of just saying, hey,
(39:03):
we're going to trust the the authorities that God has
put in place. But that doesn't mean we can't ask
some questions along the way. God bless you. Uh. To Louisiana. Hi, Judy.
Go ahead.
S4 (39:12):
Hello.
S2 (39:13):
Hi. How can I serve you?
S10 (39:14):
I had some questions. I'm trying to decide how to
invest the monies that I have. I'm 70. My husband
is 75. And we made some bad, bad financial decisions
in our early years. Making a lot of money didn't invest. Right.
And then my husband ended up with prostate cancer, and
(39:36):
I end up losing my job. So we went through
a very, very difficult time. And we have like 15 grandkids.
And at this point in life, we're trying to at
least get back on track. He's still going through a dilemma,
but I have about, I'd say about $30,000 that I
want to invest into something that if something happened, you know,
(40:00):
maybe I will have something for my kids are just,
you know, a safety net for my family. And I'm
not into investing. I don't know what to do with it.
I have a little bit of money in fidelity stocks,
and I just put it there and I left it there.
I think I have about $20,000 in there, which I
(40:23):
don't know if I have it in. I have it
in diversified funds, I think, and just want some advice
what to do at this stage in life that if
something happened, I would at least have something there for
my grandkids.
S2 (40:36):
Yes, I can certainly understand that. Judy, do you have
separate from this money what I call an emergency fund,
which is liquid reserves?
S10 (40:43):
Yes.
S2 (40:44):
Okay, great. Yeah. So this is it's a little challenging
in the sense that, you know, when you've got 30
or $40,000 to invest, you kind of have to make
those decisions yourself, because most investment advisors are going to
require a minimum of 100,000. That's just the way their
businesses are set up. So I think, you know, your
options are you could use what's called a robo advisor,
(41:07):
but you'd have to be comfortable using the internet. But
the Schwab Intelligent Portfolios would be one. You could use
another one called betterment. And they take a lot of
the guesswork out because you could put that money in,
you'd answer a series of questions, and then it would
allocate the money based on the answers to your questions.
And it would use kind of the broad market indexes
(41:27):
to determine how much to put in stocks and how
much to put in bonds. So again, if you're comfortable
in the internet, you could go to sound, excuse me,
the the Schwab Intelligent Portfolios. Uh, another option would be to, uh,
visit with our friends at Sound Mind investing. Uh, sound
mind investing. They could help you, give you some recommendations
(41:51):
on some mutual funds to put it into, but that
would allow you to move the money into an account,
let's say at Fidelity or Schwab. And then you could
buy some really high quality, low cost mutual funds and
then just kind of forget about it and let it
grow and it's going to go up and down with
the market. But over time it should increase. And then
you might have, you know, a nice little nest egg
that you could pass on at your death. You'd want
(42:13):
to assign beneficiaries to that account so that it's split
amongst your children or grandchildren however you want to do that.
So those two options sound mind investing or the Schwab
Intelligent Portfolios? I think both of those could suffice for
a 30 to $40,000 investment, and take a lot of
the guesswork out of deciding which investments to choose. Judy,
(42:35):
I hope that's helpful to you. We appreciate your call today.
May the Lord bless you. That's going to do it
for us. So thankful for my team today, Jim, Anthony, Dan, Amy,
and the rest of the team. Thank you for being
here as well. Faith and Finance Live is a partnership
between Moody Radio and Faith. I hope you have a
great rest of your day and come back and join
us next time. We'll see you then. Bye bye.
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