Episode Transcript
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Speaker 1 (00:03):
Welcome to Financial Issues, where we join the reality with truth,
helping you make the most of your money by honoring
God with your investments. Now listen then as we give
you the practical tools and advice you need to become
a biblically responsible investor.
Speaker 2 (00:24):
Good morning, Welcome to Financial Issues. Thanks for tuning in today.
Financial Issues is a ministry that helps to educate people
about financial issues from a biblical worldview. We take a
approach to stewardship, and our goal is to educate and
equip and encourage the saints of the Church to be
good stewards with all that God has trusted them to manage.
(00:46):
Our specialty is with biblically responsible investing, teaching you how
to build a portfolio that excludes the companies that are
funding the garbage that is deteriorating the moral fabric of
this country. And for just one hundred and thirty two
dollars a year, you can partner with us and get
access to that strategy. We also encourage you to fund
(01:09):
the light to be joyful, generous, and obedient givers, recognizing
that money is just a neutral medium. It's what funds darkness,
and it's what funds the light, so we want to
encourage you to handle it well. On today's show, we
are going to do Rapid Fire Friday. We'll get to
your calls and your questions. Our phone lines are open
(01:29):
if you want to get your call queued up now.
That phone number is six' ten three six three eleven.
Ten we'd love to hear from you and hear about
the questions that you have about financial stewardship and how
you can be the best steward that you can. Be
we'll also get to the latest economic, information kind of
summarizing the details of the, week getting you in the,
(01:52):
know and we'll get encouragement from the scriptures will be
in One timothy five eight to help us learn how
to balance the responsibilities of caring for our, families both
our parents and.
Speaker 3 (02:06):
Our children when we enter that stage of.
Speaker 2 (02:07):
Life so At Financial, issues we help you stay in
the know about the financial issues of the. Day we
help keep you abreast of what's happening in the economy
and the markets and help you understand how all of
that influences your own personal financial. Issues so here's a
few of my takeaways from the week that is ending,
Today july twenty, fifth twenty twenty five on. Trade this,
(02:31):
Week President trump secured major trade. WINS a deal With
japan lowers auto tariffs to fifteen percent and opens the
door to Massive japanese investments IN us energy and. Technology
trump says That america gets ninety percent of the upside
of that. Deal indonesia also signed a reciprocal trade, pact
(02:54):
dropping non tariff barriers and agreeing to buy over two
hundred billion IN us. Goods The philippines followed, suit agreeing
to open its, markets while THE us imposed a nineteen
percent tariff on their. Imports, meanwhile THE, eu THE, uk
and others face In august first deadline to cut deals
(03:14):
are risk steep tariff. Rates trump's hardline approach is boosting tariff.
Revenue it's restoring jobs and forcing countries to the table
to be fair With. America America first trade policy is
full speed, ahead and tariff revenue is pouring into The treasury's.
Speaker 3 (03:36):
Coffers in other, news THE fed feud.
Speaker 2 (03:40):
Continues trump made a surprise visit to tour the fed's
renovation project of their historical buildings and their main offices
there IN, dc and it was it played out, live
sort of.
Speaker 3 (03:55):
Reminding me of The.
Speaker 2 (03:57):
Solenski's visit to The White house and an impromptu, Thing
powell And trump sort of sparred with their words to
kind of having a little debates over the budget that
has been blown out for THESE fed building. Rehabilitations, ultimately
though the outcome The, FED i, mean The president did
(04:19):
reaffirm the likelihood Of powell finishing out his term and
the likelihood that he would not try to Fire.
Speaker 3 (04:27):
Powell the facts.
Speaker 2 (04:30):
On THE fed From september Through december of twenty twenty,
four The fed cut interest rates one hundred basis points
over that short period of, time fifty basis points coming
right before the. Election in order to be able to
(04:50):
cut rates in good, Conscience pal says he needs to
see a few things. Happen he needs to see inflation
continue to come, down and it. Has he said he
would need to see pressure in the jobs market to
be motivated to cut. Rates he would need to see
the labor markets, deteriorating and we have seen material. Changes
but the unemployment rate of four point one percent Gives
(05:14):
powell the data cover that he needs to stand his
ground and not lower. Rates tariffs haven't caused the inflation
That POWELL i think was probably hoping to see to
really support his dug in stance against lowering rates in
(05:34):
the face Of President trump calling for it on a regular.
Basis one reason maybe we haven't seen a huge impact
in the tariffs is Because china is doing what it
did in The Trump trade war one point. Zero they
are manipulating their, Currency so their. Currency we've seen THE
(05:55):
us dollar weekending against most world currencies except In. China
we've Seen china's currency weaker than THE. Us So china
appears to be manipulating their currency again to cope with
that high, tariff those high tariff rates that they that
they are. Facing we also got numbers out this week
for existing home. Sales we've got a little chart to
(06:16):
put up on the screen there For the chart shows
recent home sales going all the way back for the
last ten, years just for comparison's. Sake so just leave
that chart up, there guys for a minute WHILE i
talk through. This SO us existing home sales fell two
point seven percent from the previous month to a seasonally
(06:37):
adjusted rate of only three point nine to three. Million
that's the number that you see there For june of
twenty twenty, five and that was down from a little
over four million In may and below market expect what
the market was. Expecting the Marked this marked the lowest
(06:58):
sales paced In september of twenty which wasn't that long,
ago and the median home price climbed to four hundred
and thirty five. Thousand so you can see the trend
there on the. Chart PRE covid existing home sales trended
in the range of five to five and a half.
Million three point nine to three, million is far below
(07:20):
those pre pandemic. Levels we kind of take out that
pandemic because that was sort of the Black swan. Event
so we look at PRE covid and POST covid and
we see that home sales have been hovering near thirty year.
Lows the main culprits for the historically low home sales
rates are the things that we've talked about on the
(07:40):
show for a long, time those golden. Handcuffs so that
with mortgage rates hovering near seven, percent still stretched, affordability
the median home price has been pushed up over four
hundred and thirty thousand dollars by tight. Inventory much of
what was available is out of reach for the average
(08:02):
home buyer what was available PRE. Covid investor activity is
also playing a large. Role large firms or large institutions
have been buying up properties for, rentals which has reduced
the supply for families looking for a home to actually
live in The american. Dream until mortgage rates ease and
(08:23):
supply dynamics, normalize housing turnover is likely to stay.
Speaker 3 (08:28):
Weak so what could fix? It, well a drop in
mortgage rates could fix.
Speaker 2 (08:32):
It as inflation comes under control and The fed begins
to cut rates hopefully later this year and into twenty twenty.
Six for, sure affordability could, improve unlocking both buyers and.
Speaker 3 (08:45):
Sellers then supply has to.
Speaker 2 (08:47):
Increase home builders have to be enter into an environment
where they can make a good, profit and we've seen
them under pressure and in confidence, matter people need to
feel secure about the ability to keep their job and
to keep their incomes ahead of.
Speaker 3 (09:06):
Inflation i'm gonna skip durable. Goods it wasn't.
Speaker 2 (09:11):
That that, important And i'm running out of time. Here
so the, markets THE smp and The nasdaq hit new
all time highs, yesterday representing the thirteenth all time high
so far this. Year four of those thirteen happened just this.
Week THE smp finished above sixty three hundred for the
first time On, monday and The nasdaq broke twenty three
thousand for the first time On. Wednesday earning, season so,
(09:35):
far one hundred and fifty five of THE s AND
p five hundred companies have reported already eighty three percent
of them Beat Wall streets, expectations Albeit Wall streets expectations
were somewhat lower for this quarter with all of the.
Uncertainty so what's coming next? Week we've got a big
week next. Week earning season is going to. Continue more
(09:56):
trade deals are expected ahead Of Trump's august first. Deadline
jobs week begins On tuesday with jolts For. June The
fed rate decision comes On, tuesday ahead of the next
read for CORE pcee, inflation personal, income and personal spending On,
thursday and ahead of non form payrolls For july.
Speaker 3 (10:19):
That we'll be coming out On.
Speaker 2 (10:22):
Friday we'll find out what those businesses reported to THE
bls about, employment, hours work and earnings on workers when
the non form payrolls come. Out now that you're in
the know about the recent and upcoming financial, issues we
hope that you'll learn more about how we can help
you integrate those issues into your own. Stewardship find out
(10:44):
more about our ministry and how we can help you
be a good steward At Financial issues dot. Org i'm your,
Host Shanna. Bert stay. Tuned we'll be back with More financial.
Speaker 4 (10:53):
Issues security is offered THROUGH Ga repel And, company a
registered Broker dealer And Investment advisor MEMBER finra AND. Sipc
opinions expressed By shanna are hers alone and are for
informational purposes only and do not necessarily represent those OF
(11:16):
Ga repel or the outlet on what you are. Listening
you should consider how the information applies to your situation
prior to personally implementing, it and consult any financial professional
you work with to make sure it's applicable to your financial.
Speaker 2 (11:28):
Plan welcome back To Financial. Issues thanks for sticking with.
This it is rapid Fire friday today and our phone
lines are. Open if you deal thenumvernaw you'll be the
first caller in the. Queue six ten three six three eleven.
TEN i guess we must have answered everybody's questions yesterday
on the partner conference.
Speaker 3 (11:49):
Call nobody has any, today that's.
Speaker 5 (11:51):
Right don't be, shy, folks that's.
Speaker 2 (11:53):
Right if you did miss the partner conference, call don't
fret it. Is it is being reviewed right now and
should be POSTED i would think by the end of
the day to, day and so just check, back you,
know on the website when you're going to read the,
commentary or when you have some, time maybe over the,
weekend if you have some downtime and you want to
(12:15):
fill it with financial, issues you can go on and
listen to the replay of the partner conference. Call we're
going to get to some other questions and our verse
the day to. Day we're going to take a little
bit of a little bit more time than we usually
do going through this because our verse of the to
day to day was prompted by a question that was
(12:36):
sent in by one of our listeners or one of our.
Speaker 3 (12:40):
Partners, So, seth do you want to read that?
Speaker 5 (12:42):
Question, Boy i'd love, Too, Shanna it is a great.
Question so this Is becky and she's, asking what are
recommendations you have when a set of parents have not
done anything to prepare for saving for retirement and the
responsibility may weigh on us in the future next ten
to twenty. Years so she's talking about her. Generation There,
shanna what would be the best for us to plan
financially ahead in this possible situation of parents needing our
(13:05):
help financially and for care. Boy that's a really good.
Speaker 2 (13:08):
Question it is a good, question and so many different
scriptures started flooding through my mind AS i was reading
that question and starting, to you, know ponder my answer to.
It and so our stewardship verse today comes from One
timothy five. Eight but if anyone does not provide for his,
relatives especially for the members of his, household he has
denied the faith and is worse than an. Unbeliever, so you,
(13:33):
know a couple of verses, Earlier paul is urging children
and grandchildren to put their quote religion into, practice or
to practice godliness toward their own family, first to sort
of repay their parents for the care that was shown to.
Them So paul seems clearly to be putting the responsibility
(13:53):
for caring for widows on the shoulders of family before
the church needs to step up and offer. Support SO
i think that is a noble idea and a really
great way to, fulfill practically fulfill that fifth commandment and
position ourself for the blessing that comes with that, command
(14:15):
which is to honor your mother and, father that your
days may be long in the land that The lord
Your god is giving. You so the question That becky
really seems to be struggling with here is how to
reconcile the idea of taking care of her parents when
they need her help and potentially some of the finance
(14:36):
with help with some of their finances, too and the
responsibility of taking care of her own spouse and her
own children when resources may be a little bit. Limited,
so you, know what do we do when we cannot
financially do both reminded of what it says In genesis
two and twenty four that that is why a man
(14:59):
leaves his father and his mother and is united to
his wife and they become one. Flesh so this verse
establishes the priority and permanence of the marital relationship and by,
extension the formation of the new family.
Speaker 5 (15:13):
Unit and shann IF i could just hop in here real,
quickly that verse really kind of was the verse that was,
Mine megan's theme verse for when we were in premarital
counseling and when we got. Married that's one that we've
clung to a. Lot and the reason Is i'm not
puffing us. Up the reason is because we both have
a proclivity towards our families of, birth and so we
had to make an intentional effort to say we have
left our father and mother and we've clung to each.
(15:33):
Other it's so. Important i'm sure that we're not the
only ones out.
Speaker 2 (15:37):
THERE i can agree with, you BECAUSE i, mean it's
just that's one of the, things and we see it
here In becky's question. Too she feels so torn between
the two. Families so you, know we have to we
always have to dig deeper through the scriptures and you,
know really take it to The lord and ask him
to show. Us but you, know The genesis verse teach
us that, loyalty, leadership and revision shift from our parents
(16:02):
to our spouse and our. Children so, biblically it's our
first responsibility to take care of our spouse and. Children
so that means that if a choice must be made
between adequately providing for your children's need and supporting your
parents who are in financial, need especially she sort of
hints to, here due to lack of their own, planning
scripture CERTAINLY i believe gives weight to the nuclear. Family
(16:27):
another scripture that comes to mind Is Second corinthians twelve.
Fourteen it says for children are not obligated to save
up for their, parents but parents for that. Children sounds
sort of, harsh but it's not really a harsh. Rebuke
it's a reflection Of god's design for generational. Stewardship parents
are called to provide for their, children not the other way. Around,
(16:49):
so in other, words why stewardship doesn't presume upon their
children's resources but plans diligently for their own. Future scripture
commends the ant who store up in the summer and
the wise man who leaves an inheritance to his. Grandchildren
yet today many adult children are burdened by aging parents
who failed to say who spent freely when they should
(17:11):
have been storing, up and now expect financial rescue from
their sons and. Daughters so let's be clear that we
are called to honor our, parents and sometimes that includes financial,
help especially if we have the resources to do. It
but honor does not necessarily mean. Enabling if caring for
your parents put your own spouse and children at, risk
it can violate your primary, responsibility your primary stewardship responsibility
(17:36):
to the nuclear family that you, Created so we can
still show compassion without compromising. Wisdom we can help when,
able but we are not called to underwrite someone else's poor.
Planning so let's you, know, set do you have anything
that you want to interject at This.
Speaker 5 (17:52):
Well, shanna you know it's it's a fascinating. VERSE i
think you're exactly. Right here's the. Reality these these these two,
polls in these two directions are both good. Things you,
Know helping, parents providing for parents is a good. Thing
providing for children is a good. THING i really do believe,
though just like you, said there's a natural order that
we have to put these things. In The lord comes,
(18:13):
first after The, lord the most important relationship is the marriage.
Relationship so my for, Me megan comes, next and then after,
her my children come, next and after that then it's my,
parents then it's my in. Laws we have to get that,
right and if those orders get mixed up at, all
it can really be.
Speaker 2 (18:29):
Disastrous, yeah you, know and it's not always all about.
MONEY i know that's kind of how the question. Relates
but you, know we can still offer our time to
sit with or to help our, parents and we can
even offer financial help if we can afford, it and
if we can afford, IT i think we should do,
that perhaps even ahead of any of our other giving
(18:50):
that we might be planning to do or doing.
Speaker 3 (18:53):
Already you.
Speaker 2 (18:53):
Know it also reminds me of What jesus said to
The pharisees and Marks mark. Seven he, said but you,
say if a man tells his father or mother whatever
you would have gained from me is corbin that is
given To, god then you no longer uh permit him
to do anything for his father or. Mother that's making
the void the word Of god by your tradition that
(19:16):
you have handed, down and many such. Things So jesus
is really looking into the heart of The pharisees about
their excuses for not honoring their their mother and. Father
so you, know some do you have anything to add
to that set BEFORE i give some Practical, Well.
Speaker 5 (19:33):
SHAN i think THAT'S i think that's you know exactly. Right,
yeah there's not really much to add other than what
you just said. THERE i think YOU'RE i think you're right.
Speaker 3 (19:41):
ON i didn't want.
Speaker 2 (19:42):
TO i wanted to let you jump in there if
you had something to, Say, so you, know practical, tips
And i'm sure you KNOW i think that's what people
are looking for when they said his. Questions So i'm
going to say something in general that's gonna you, know
sound very tried at the, beginning but. Pray you, know
The lord has a real faithful way of providing his
children whatever we ask when we ask in his, name
(20:06):
according to his. Will and so you, know if your
heart is truly to provide for your family to not
be worse than an, unbeliever to be pleasing to The,
lord and to do the things that he asked you to,
do ask, him he, will he will make a. WAY
i can you, know never supposed to guarantee, anything BUT
i can guarantee it if if it says it in the,
(20:27):
WORD i believe that it's. True, so you, know, practically
have a hard talk with your, parents you, know if
this is something that is weighing on your, heart talk
to them about it includes your, siblings and you, know
maybe start to work towards a plan of you know
what that's going to look like for. You encourage your
parents in a loving way to try to get their
(20:47):
financial house in order by adopting a. Budget you, know
encourage them to to look at what they're spending to
look at the resources that they, have and you, know
to consider the things that might be coming down the.
Speaker 3 (21:01):
Road you, know it's never too.
Speaker 2 (21:02):
Late some people think that once they get into retirement
it's too, late BUT i, mean it's never too late
if we're being financially, irresponsible if we're being irresponsible in any,
way it's never too late as long as we have
breath in our bodies to repent and to change and
do something, different AND i believe that The lord will
honor those. Decisions if they own their own, home you
(21:23):
can explore the option of opening what's called a reverse
mortgage line of. Credit it's a little bit different than
the standard reverse. MORTGAGE i, mean it's certainly not the
first line of. Defense that are the first strategy THAT
i use When i'm looking at planning for retirement for,
people but for those who may be late stage already in,
(21:45):
retirement haven't accumulated a lot of. Assets most people have
a majority of their net worth in their, home so
that could be. Something i'm not saying it's the right,
thing but it's something that you can look. Into it's
a way that can help them tap into the equity
of their. Home it can provide some tax free. Income
(22:05):
SO i would, say you, know don't maybe don't explore this.
Option if you think that access to new funds would
be accessed prematurely or spent irresponsibly by your, parents all
that has to be taken into. Consideration AND i would
say avoid the temptation to go heavy into the whole medicaid,
planning you, know the elder planning, persuasion and because a
(22:31):
lot of times that's really motivated by trying to preserve someone's.
Inheritance expect that the financial resources That god has provided
to your parents will be used for their care before
trying to use the safety, net you, know the government
programs and things like.
Speaker 5 (22:48):
That, So, Janna i'm so glad that you said THAT
i would Encourage. Becky you, KNOW i hope that she
would maybe even follow up with, us because my guess,
is you, know she doesn't say, her shouldn't say her age,
here shouldn't say hold her you, know kids Are it
might look different if she's maybe for you, know newly,
married early twenties, thirties has little, kids versus if she's
in her fifties and her parents are in her, seventies
(23:09):
the situations might look a little bit different, there BUT
i definitely feel her heart with this question for.
Speaker 2 (23:13):
Sure way to carry you both, absolutely so you can
never go. Wrong you, know The lord promises that if
we seek, him we will find, him and if we
ask for, wisdom he will give it liberally without finding
fault in. Us so you're on the right, Track. Becky
trust that The lord's going to give you the answers
that you. Need AND i hope this helped encourage someone
else or may give them some food for thought.
Speaker 3 (23:34):
There so we're halfway through the. Show if you listen
on A shery station that.
Speaker 2 (23:39):
Only carries the thirty minute version of the, show we
wish you a. Farewell but if you stick, around we've
got More Financial issues to come find us in the
places that you watch podcasts or on our website financial
issues dot. Org welcome back To Financial. Issues thanks for
(24:09):
sticking with. Us we're officially in the second half of
the program today and it is rapid Fire.
Speaker 3 (24:14):
Friday phone lines are. Open you can be the first.
Speaker 2 (24:17):
Caller six ten three six three eleven ten is the
number to call if you've had experience in some of
the things that we were just talking. About if you've
if you've felt that burden to or that desire to
care for both your parents and your family at the same,
time you, know THAT'S i don't know what the statistics still,
(24:38):
are but it used to be that that average caregiver
for someone who was caring for elderly parents was in their,
forties married and had children of their, own and you,
know they were sort of sandwiched in between the responsibilities
of taking care of their parents and trying to raise
(24:59):
their our own family at the same, time and probably you,
know holding down a job or you, know being a
full time even if they're a full time wife and,
mom that is that is another full time. Job that's,
well you know that is considered a full time job as.
Well you, know so it's it's a precarious situation to be.
In AND i think one of the things that The
lord calls us to. Do some of the reason that
(25:22):
we walk through experiences a lot of times is you,
know for the refining of our own, character but also
once we get to the other side of, that to
be able to share the, experience the, hope the strength
that we got from persevering through. Challenges so if that
reminds you of something and encourages you to share that
(25:44):
with our. Audience give us a call six ten, three,
six three.
Speaker 5 (25:48):
Eleven you, Know, Shanna i'll go first, there if that's all,
RIGHT i guess you, know me And megan are trying
to prepare our hearts for that time right now we were,
talking you, know during the break there that for, guys of,
actually there's a special relationship with your. Mom you, know
if you have a good relationship with your, mom she's
the most important woman in your life before your. Wife
(26:08):
but once you meet your, wife your wife becomes the
most important hands. Down it's funny because you, Know megan
AND i are kind of learning this right now where
she is loving On josiah And, knox knowing that right
now she's their number one, gal but someday she won't.
Be AND i Praise god that she's reckoning with. THAT
i have to do the same thing With. Eloise, Also
i'm her favorite, guy But i'm going to give her
(26:29):
to another guy, someday AND i have to be okay with,
that you, Know and so that's What i've been told.
Exactly so having, that you, know AS i, mean as,
parents you, know and this is kind OF i guess
reversing the perspective From becky's, question is we can give
such a gift to our children when they become, adults
to be able to say it's okay for you to
choose your. SPOUSE i, BECT i want you to choose your.
(26:51):
Spouse i've raised you to choose your. Spouse i'm okay
with coming second. NOW i think that's just so, important
and it's it's, hard it's really.
Speaker 2 (26:59):
Hard it's hard, teaching and you, know it's something though
THAT i think as parents we need to prepare ourselves.
For like you, said it's you know what what happens
most of the time when when people get. Married i'm
thinking Of facebook posts And i'm thinking of you, know
experiences and.
Speaker 3 (27:14):
Things welcome to our.
Speaker 2 (27:15):
Family that's what the parents, say when really they should be,
saying congratulations on starting your.
Speaker 5 (27:22):
Needs you just started your. Own, YEAH i, Know. Shanna
it's it's so. True and it's so easy for me
to speak sounding callous to BECAUSE i haven't gone through it.
Yet BUT i have to prepare, to you, know absorb
these words as well WHEN i get to that. Age
but my daughter will not be welcoming a son in
law to our. Family when she gets, MARRIED i will
be giving her away and she'll be starting her own.
Family and that's the. Truth that's a wonderful good thing
(27:43):
we should. Encourage that we should because it's Because god's design.
Speaker 2 (27:46):
Right and so that's that speaks to another stewardship. Responsibility
make sure your own house is an order so that
you're not a burden to your children later, on and
in doing that you will teach your children good stewardship
habits as.
Speaker 5 (28:00):
Well, yeah well.
Speaker 3 (28:02):
Said The word Of god is so.
Speaker 2 (28:04):
Multifaceted if we just will follow, it even if we
don't understand everything that The word is telling, us or
That god tells, us or Why he tells us certain,
things if we just follow, it you, know we're guaranteed.
Speaker 3 (28:14):
Success.
Speaker 5 (28:15):
Yeah you, Know, shanna speaking of The word Of, god
you had referenced the verse From, exodus honor your father and.
MOTHER i wonder if For becky's, situation perhaps the honoring
thing to do for her would be not necessarily just
enable and help and send money to her, parents but,
to like you, said help them create a, budget help
them figure it out on their, own you, know figure
out what might be the best way to. Go honoring
(28:36):
our parents doesn't always look like the way that maybe
we think it, does you, know.
Speaker 3 (28:40):
Right, right, so and for good or.
Speaker 2 (28:42):
Bad you, know our society has certain social safety. Nets
so you, know for the most, part an elderly person
is not just going to be put out on the
street and you, know left to be. Destitute, likely very
likely they have some social security. Income you, know they
have at worst case scenario if they need round the
(29:05):
clock care and they can't afford, it The Medicare i'm,
Sorry medicaid, program well is.
Speaker 3 (29:12):
There so you, know there's lots of.
Speaker 2 (29:14):
Options BUT i think we need to look to the
scripture and you, know try to take care of our
own the best that we can and while still balancing
our other stewardship.
Speaker 3 (29:23):
Responsiblites, wow we're making a whole show out of this.
Speaker 5 (29:25):
Today seriously fun.
Speaker 2 (29:28):
Stuff shanna good that's still up in, sixteen, three, six, three,
eleven and.
Speaker 3 (29:34):
Ten.
Speaker 5 (29:34):
Shanna by the, way if people call, in So darlene's,
back her back is feeling. Better she's back. Today so
if you want to talk To, darlene call, in. Folks
she's right. There she's waiting for, you.
Speaker 3 (29:47):
And she's a joy to talk.
Speaker 5 (29:48):
To, absolutely she, certainly Is. JENNA i know we have
a couple questions we can get to here before THE
ag report if we don't get any.
Speaker 3 (29:54):
Calls, okay let's do.
Speaker 5 (29:55):
It So john is up. First he, says my wife
AND i each have over five hundred thousand dollars in our.
Eye she's sixty. ONE i purchased two fifty thousand dollars
charitable gift annuities from MY ira In january of twenty twenty,
four which pay me two hundred dollars each. Month i've
been told that upon turning seventy and a half In
september of twenty twenty, SEVEN i will be able to
purchase an additional fifty thousand dollars annuity from MY, ira
(30:17):
and the withdrawal for the purchase would be tax free
and count toward my required. Distribution is this the? Case
thanks so? Much what do you?
Speaker 2 (30:24):
Think, well, gosh If i'm understanding What john is saying correctly,
HERE i want to just clarify that in order to
do the purchase from THE ira of a charitable gift
annuity and count it as tax, free you have to
be seventy and a half years. Old it doesn't seem
(30:47):
to me, well since he's asking when he is seventy
and a half and twenty twenty, Seven SO i would
refer you to your tax professional and take a look
at your twenty twenty four tax return to see if
YOUR ira distribution and was indeed tax. Free, now you
can make purchases from YOUR ira for anything that you.
(31:07):
Want you can request checks be sent to, anyone but
as far as it being tax free, income that's a
whole different. Story so the option to fund a charitable
gift annuity with YOUR ira as a what we call
the qualified charitable distribution is a once in a lifetime.
Election so there is a maximum of fifty four thousand
(31:32):
dollars for this type OF qcd to purchase a charitable gift,
Annuity SO i would caution you to find out about.
Speaker 5 (31:41):
That.
Speaker 2 (31:42):
Now if your wife is seventy and a half as,
well she can do the same, thing but it is
a one time. Election the other, consideration, too is to
list whenever you do these charitable gift, annuities make sure
you're listing the husband and the wife as joint income.
Beneficiaries otherwise the income is going to stop at the
(32:04):
death of the first. Beneficiary it's been my experience that
most spouses want their spouse to have all of the
benefit of the assets that they've accumulated while they're alive
until the time that they. Die so if you don't
list them as a joint, beneficiary that gift when the
income beneficiary dies is then made to. Charity the fifty
thousand dollars is not accessible or usable for the spouse
(32:29):
in neither is the.
Speaker 3 (32:30):
Income, also i'd say just.
Speaker 2 (32:33):
Make sure that you have a good blueprint in mind
when you're doing these charitable gift. Annuities they are great
things to, consider but it is a permanent. Gift it
gets the money completely out of your. Estate you do
get the income from it while you're, alive but again
it is money that doesn't come.
Speaker 3 (32:52):
Back to you or to your heirs for.
Speaker 2 (32:55):
Use all, right we're going to hear From Craig halgart
with the Agripor After, craig we're going to take a
break and then we'll come back and finish up Rapid
Fire friday At Financial. Issues here Comes craig in just a. Minute,
SORRY i thank you a little.
Speaker 6 (33:12):
Bit this Is Craig houlguard with Your Financial issues ag
update For july twenty. Fifth corn is experiencing a total
war between great weather conditions which point to a large
crop as well as solid demand for that. Corn new
crop sales of corn from an export perspective are seventy
four million bushels ahead of last year at this. Point
yesterday saw A december corn three and a quarter cents,
(33:33):
higher closing at four twenty and three. Quarters subby has
traded weaker throughout the session before being pulled slightly highed
by a strong soybean oil.
Speaker 5 (33:41):
Market now exports were.
Speaker 6 (33:43):
Disappointment new crop sales of soybeans are now behind last,
year which makes it our lowest point in the last five. Years,
currently new crop exports sales of soybeans total ninety six
million bushels versus one hundred and seven million at this
point last. Year november beans finished yesterday opinion and a
half higher at ten twenty five four and a. Quarter
we'd rallied on a strength of a strong exports sales.
(34:03):
Report now it's only week seven of the marketing, year
but we're currently five percent ahead of the pace needed
to reach the USDA's export projection in the young marketing.
Year total sales so far are thirty four point nine
million bushels ahead of last, year and THE usda is
just assuming a year over year increase in We the
exports of twenty four Million Minneapolis september we had finished
(34:24):
yesterday two and a half cents lower at five eighty
five and a. Half chicago was a penny higher at
five forty one and a, half And Kansas city was
a nickel, better closing at five twenty eight and a.
Half common futures continued their aimless trek. Sideways december futures
finished yesterday session forty seven points higher at sixty eight seventy.
One livestock futures out of mixed. Performance October live caliber
(34:46):
one dollars and thirty five cents lower two hundred and
twenty two dollars and fifteen cents per hundred Way September
feeder caliber two dollars and twenty five cents, lower closing
out today at thridded and twenty nine dollars and sixty
five cents per. Hundred OCTOBER leenhg futures were twenty cents
high in ninety one dollars and ten cents per one
hundred way glass Who milk futures experience their first hire
closed of the, week and the closing bell. Sounded we
(35:07):
Had August future sixteen points higher at seventeen twenty. Six
this has Been Craig holiguard with Your financial Issues egg.
Update we'll be right back with more financial issues after.
Speaker 4 (35:18):
This the opinions and recommendations expressed on this program do
not necessarily represent the opinions of the station or any
of the program's. Sponsors, additionally all products or services offered
by the program sponsors may not be known by the.
Speaker 7 (35:40):
Program welcome back To Financial. Issues we're in the home
stretch of the program today and our phone lines are.
Open six ten three six three eleven ten is the
phone number that you. Call we don't have anything on
social OR u any.
Speaker 3 (36:00):
Questions you.
Speaker 5 (36:02):
Know the chat is just as as delightful as. EVER
i think the conversation early in the show is Surrounding Jeffrey,
epstein which is not exactly what we were talking, about
but nonetheless it's fun to see. It so, yeah so
many people in the, Chat george And lisa just to
name a. Few Uncle john's, There jason's, There james. There
so we're having some, fun.
Speaker 3 (36:23):
Good deal Yep, Ye, WELL i know we got plenty
of other questions.
Speaker 5 (36:26):
There, yeah sounds, Good. Shannon let's get it started With frederick. Here,
FREDERICK i believe by his, title did serve in The
United States Air. Force so thank you for your service, There.
Frederick here's his, Question, shanna what do you think of
the effort underway in several, states particularly the state with
a single star on its? Flag which state that could
be to create state based legal tender with value tied
(36:48):
to gold and. Silver there's a major proponent of it
out there who's the author of a somewhat famous book about.
This he's wondering is such a currency something the partners
should support in our home? States frederick lives In. Georgia
since our portfolios are now denominated in, dollars what sort
of investment changes might the partners anticipate should a gold
standard currency become a. Reality And, CHANNA i might just
(37:10):
add a follow up to that too as. Well is
it really even a logical possibility that this could?
Speaker 3 (37:15):
Happen, yeah so that was my first. Thought you, KNOW
i think it's a noble.
Speaker 2 (37:19):
Idea you, KNOW i wish we never would have come
off the gold, Standard, yep you, KNOW i wish we
didn't have a central. Bank but you, know my biggest
question really is whether or not it's it's even. Possible you,
know even if the states do certain, things AND i
think certain things that they're that that they're doing is
(37:40):
permissible from a constitutional, standpoint you still have federal issues
like the capital gains, tax the federal federal capital gains
tax on, uh the.
Speaker 3 (37:52):
Sell of, gold the so the tax ability of.
Speaker 2 (37:55):
That and then of course you have the underlying, issue
which is the against The fed and the deep. State
so this is, something this is an idea that would
be fought tooth and nail by the powers that.
Speaker 3 (38:11):
Be so.
Speaker 2 (38:14):
If it did have any possibility of, HAPPENING i don't
think that it would happen, overnight you, Know AND i
REALLY i know what The bible says about the human,
heart AND i know what power does to. People power,
corrupts and absolute power corrupts. Absolutely and when you control monetary,
(38:35):
systems that comes with a lot of power that once people,
get they don't want to give. Up and you, KNOW
i really struggle with this idea if human beings can
actually create and maintain a decentralized, system so someone has
(38:55):
to be in control in some kind of, capacity and you,
know my thought is that corruption will eventually find its
way into that, system into the new, system and destroy
it as. Well so you, KNOW i JUST i think
it's a noble, idea and if we moved in that,
(39:16):
DIRECTION i think it would be. Welcome BUT i just
can't spend a lot of time coming up with elaborate
plans of how to operate under a system that may
never come into. Existence so you, know my time has
really spent focusing on being the best steward THAT i
can be under whatever system THAT i happen to be
(39:37):
operating in at the.
Speaker 3 (39:38):
TIME i hope that makes.
Speaker 5 (39:40):
Sense, Yeah, no that's a really Good, Shanna it's a good. Principle,
actually we in my history, studies one of the warnings
THAT i, received which was really, good was was try
to avoid dealing in what if. Scenarios, now it's one
thing to plan for, possibilities but it's another thing to, Say,
okay if this, happens or if this had, happened what
would have? Happened to thinking. Retroactively so, YEAH i totally
(40:02):
agree with. You be far better for us to focus
on the system that we're in and make the most of.
Speaker 2 (40:08):
It but all you have to do is spend a
few minutes on social media and you're gonna find all
kind of what if what if people speculating on what
if strategy.
Speaker 5 (40:18):
Exactly especially on the conservative. Right i've noticed as, well
we tend to do that a. Lot so hopefully financial
issues could be a breath of fresh air.
Speaker 2 (40:26):
There, yeah, yeah we have, to we have to really
take a hard look at what's in front of us
and just operate to the best of our abilities with
the information that can be. Known and you know how
many times in The bible does it tell us not
to worry about the future because today has enough problems
(40:46):
of its, Own and so you know why spend why
waste increase your cortisol levels and waste time and energy
speculating about what could? Happen because really that's what what fear,
is and that that's one way that the enemy steals
our tom and our piece is to get us to
to think about things that might never even.
Speaker 5 (41:09):
Happen well, said, gosh you, Know, shanna have to tell,
You i've won so many pretend conversations in my, mind
but they never actually came to. FRUITION i wasted so
much time doing, them but, MAN i had some zingers
in there. Anyway, yeah, right good.
Speaker 2 (41:23):
Stuff you spend so much time rehearsing a certain situation
and thinking through every angle and then you get to
it and it was, like, oh.
Speaker 5 (41:32):
Just completely different.
Speaker 2 (41:33):
Exactly, yeah, absolutely we go HOW i thought and you, know,
yeah that's Good.
Speaker 5 (41:38):
Shanna all. Right joseph's up. Next here he is, saying
my wife is sixty seven years. Old she has a
roth ira that has met the five year aging. Period
if we were to transfer a rollover individual securities in
like kind from a TRADITIONAL ira to the wroth ira
at different time, intervals do you think each of would
each of these separate transfers require their own five year
(42:00):
aging period before being eligible for tax free withdrawal or
would that occur immediately after the, transaction assuming the taxes
have been? Paid and what are my choice of methods
for paying the? TAXES a couple questions, There shannon From.
Speaker 2 (42:11):
Joseph, yes and, no there's my revaire there you. Go
so for roth distributions to qualify for tax free, withdrawal
you have to meet two basic. Criteria you have to
be fifty nine and a half years, old which your
wife checks that, box and the account has to have
been open for five. Years so even if you open
(42:32):
The wroth way back in nineteen ninety seven ninety eight
when they were, created and whether or not you added
regularly to them or, not as long as you've had
it opened for five, years she's good for that qualified
tax free. Withdrawal now that being, said Each wroth, conversion
now here's the general, information that's the specific answer To lee.
(42:55):
There but Each wroth conversion does have its own five
year clock that starts whenever you do a. Conversion but
it's for to determine whether or not you're subject to
the ten percent early withdraw. Penalty so since your wife
checks the box of being fifty nine and a, half
no early withdrawal, Penalty so the penalty only applies to
(43:19):
if the person is under fifty nine and a half
when the conversion. Happens so you, know lots of little caveats.
There SO i would say that if you're in a particular,
situation it's best to get final guidance from your tax.
Person so the other part of the question the option
about paying the. Taxes SO i would opt for paying
(43:42):
the taxes with any outside money that you may have
because when you do the only way if you don't
have earned income and you can't make the, contribution the
only real way to get money into a roth is
through those. Conversions and so the idea is to get
as much money as you can into that roth. Conversion
so you do have one option of withholding taxes whenever
(44:04):
you do the wroth, conversion but what will happen is
that you'll get less money into the.
Speaker 3 (44:10):
Wroth so if you.
Speaker 2 (44:11):
Don't withhold, taxes you put the full amount that you're
converting over into the wroth and pay the taxes maybe
with some outside money that you, have like.
Speaker 3 (44:26):
You, know savings or something like.
Speaker 2 (44:27):
That that's a better option that maximizes the potential of
the wroth. There so the other thing too is if
you're under fifty nine and a, half that may not
be the best course of action for you because if
you do a distribution like a roth conversion in the full,
amount you, know if you have taxes, withheld you could
(44:49):
be subject to ten percent penalty on that portion that
you used to pay the. Taxes so lots of little
ins and outs.
Speaker 5 (44:58):
There, yeah good. Stuff this question from the Chat Shannon
robert From texas is asking do we still have a
FREEBR i screener on THE fisim, website and indeed we, do,
right we, do.
Speaker 2 (45:08):
SO i believe it's under the resources tab there. Seth
you probably can tell them real.
Speaker 5 (45:13):
Definitely so resources, Tab, robert go down to evaluator lowercase
e UPPERCASE v, evaluator click on that and then follow
those steps and you can use the FREEBR i screener.
Speaker 2 (45:23):
Yep so you can just type in the stock symbol
that you, have or the mutual fund or THE etf,
symbol and it will give you a really quick answer
as to whether or not the company that you're looking
at is clean or. Dirty there also is another tool
that we do reference from time to. Time our primary
tool is the evaluator, one but there is a free
(45:45):
tool on The inspire.
Speaker 3 (45:47):
Website let's see IF.
Speaker 2 (45:50):
I can get the the address quickly, TOO i think as,
Well inspire insight dot. Com and it's super easy to
use to you just flop your symbol in there at the,
top and it doesn't give you as much information as
the evaluator, does and they have a little bit different,
methodology but for the biggest issues they're pretty well on
(46:12):
the same page the two screeners. Together all, right, WELL
i think we're out of time for you.
Speaker 3 (46:18):
Now, yeah it.
Speaker 2 (46:20):
Was even though we didn't get any phone, calls we
had lots of great. QUESTIONS i hope that we educated some.
PEOPLE i hope that we encourage some. PEOPLE i hope
that we equip some people to be better stewards Because
god owns it. All The master's coming back one day
and we're going to have a. Test we're going to
be asked the question about how we handle the, time,
(46:42):
talent and treasure that we were trusted By god to.
Speaker 3 (46:45):
Manage we hope that.
Speaker 2 (46:47):
The work that we do here at the ministry equips
you to be able to be called a good and
faithful steward one day when that time comes for. You
enjoy a wonderful day of worship On sunday and come
back for more or financial issues next. Week check us
out in the Meantime financial issues dot.
Speaker 1 (47:04):
Org if we ever forget that we're one nation Under,
god then we will be
Welcome to Financial Issues, where we join the reality with truth,
helping you make the most of your money by honoring
God with your investments. Now listen then as we give
you the practical tools and advice you need to become
a biblically responsible investor.
Speaker 2 (00:24):
Good morning, Welcome to Financial Issues. Thanks for tuning in today.
Financial Issues is a ministry that helps to educate people
about financial issues from a biblical worldview. We take a
approach to stewardship, and our goal is to educate and
equip and encourage the saints of the Church to be
good stewards with all that God has trusted them to manage.
(00:46):
Our specialty is with biblically responsible investing, teaching you how
to build a portfolio that excludes the companies that are
funding the garbage that is deteriorating the moral fabric of
this country. And for just one hundred and thirty two
dollars a year, you can partner with us and get
access to that strategy. We also encourage you to fund
(01:09):
the light to be joyful, generous, and obedient givers, recognizing
that money is just a neutral medium. It's what funds darkness,
and it's what funds the light, so we want to
encourage you to handle it well. On today's show, we
are going to do Rapid Fire Friday. We'll get to
your calls and your questions. Our phone lines are open
(01:29):
if you want to get your call queued up now.
That phone number is six' ten three six three eleven.
Ten we'd love to hear from you and hear about
the questions that you have about financial stewardship and how
you can be the best steward that you can. Be
we'll also get to the latest economic, information kind of
summarizing the details of the, week getting you in the,
(01:52):
know and we'll get encouragement from the scriptures will be
in One timothy five eight to help us learn how
to balance the responsibilities of caring for our, families both
our parents and.
Speaker 3 (02:06):
Our children when we enter that stage of.
Speaker 2 (02:07):
Life so At Financial, issues we help you stay in
the know about the financial issues of the. Day we
help keep you abreast of what's happening in the economy
and the markets and help you understand how all of
that influences your own personal financial. Issues so here's a
few of my takeaways from the week that is ending,
Today july twenty, fifth twenty twenty five on. Trade this,
(02:31):
Week President trump secured major trade. WINS a deal With
japan lowers auto tariffs to fifteen percent and opens the
door to Massive japanese investments IN us energy and. Technology
trump says That america gets ninety percent of the upside
of that. Deal indonesia also signed a reciprocal trade, pact
(02:54):
dropping non tariff barriers and agreeing to buy over two
hundred billion IN us. Goods The philippines followed, suit agreeing
to open its, markets while THE us imposed a nineteen
percent tariff on their. Imports, meanwhile THE, eu THE, uk
and others face In august first deadline to cut deals
(03:14):
are risk steep tariff. Rates trump's hardline approach is boosting tariff.
Revenue it's restoring jobs and forcing countries to the table
to be fair With. America America first trade policy is
full speed, ahead and tariff revenue is pouring into The treasury's.
Speaker 3 (03:36):
Coffers in other, news THE fed feud.
Speaker 2 (03:40):
Continues trump made a surprise visit to tour the fed's
renovation project of their historical buildings and their main offices
there IN, dc and it was it played out, live
sort of.
Speaker 3 (03:55):
Reminding me of The.
Speaker 2 (03:57):
Solenski's visit to The White house and an impromptu, Thing
powell And trump sort of sparred with their words to
kind of having a little debates over the budget that
has been blown out for THESE fed building. Rehabilitations, ultimately
though the outcome The, FED i, mean The president did
(04:19):
reaffirm the likelihood Of powell finishing out his term and
the likelihood that he would not try to Fire.
Speaker 3 (04:27):
Powell the facts.
Speaker 2 (04:30):
On THE fed From september Through december of twenty twenty,
four The fed cut interest rates one hundred basis points
over that short period of, time fifty basis points coming
right before the. Election in order to be able to
(04:50):
cut rates in good, Conscience pal says he needs to
see a few things. Happen he needs to see inflation
continue to come, down and it. Has he said he
would need to see pressure in the jobs market to
be motivated to cut. Rates he would need to see
the labor markets, deteriorating and we have seen material. Changes
but the unemployment rate of four point one percent Gives
(05:14):
powell the data cover that he needs to stand his
ground and not lower. Rates tariffs haven't caused the inflation
That POWELL i think was probably hoping to see to
really support his dug in stance against lowering rates in
(05:34):
the face Of President trump calling for it on a regular.
Basis one reason maybe we haven't seen a huge impact
in the tariffs is Because china is doing what it
did in The Trump trade war one point. Zero they
are manipulating their, Currency so their. Currency we've seen THE
(05:55):
us dollar weekending against most world currencies except In. China
we've Seen china's currency weaker than THE. Us So china
appears to be manipulating their currency again to cope with
that high, tariff those high tariff rates that they that
they are. Facing we also got numbers out this week
for existing home. Sales we've got a little chart to
(06:16):
put up on the screen there For the chart shows
recent home sales going all the way back for the
last ten, years just for comparison's. Sake so just leave
that chart up, there guys for a minute WHILE i
talk through. This SO us existing home sales fell two
point seven percent from the previous month to a seasonally
(06:37):
adjusted rate of only three point nine to three. Million
that's the number that you see there For june of
twenty twenty, five and that was down from a little
over four million In may and below market expect what
the market was. Expecting the Marked this marked the lowest
(06:58):
sales paced In september of twenty which wasn't that long,
ago and the median home price climbed to four hundred
and thirty five. Thousand so you can see the trend
there on the. Chart PRE covid existing home sales trended
in the range of five to five and a half.
Million three point nine to three, million is far below
(07:20):
those pre pandemic. Levels we kind of take out that
pandemic because that was sort of the Black swan. Event
so we look at PRE covid and POST covid and
we see that home sales have been hovering near thirty year.
Lows the main culprits for the historically low home sales
rates are the things that we've talked about on the
(07:40):
show for a long, time those golden. Handcuffs so that
with mortgage rates hovering near seven, percent still stretched, affordability
the median home price has been pushed up over four
hundred and thirty thousand dollars by tight. Inventory much of
what was available is out of reach for the average
(08:02):
home buyer what was available PRE. Covid investor activity is
also playing a large. Role large firms or large institutions
have been buying up properties for, rentals which has reduced
the supply for families looking for a home to actually
live in The american. Dream until mortgage rates ease and
(08:23):
supply dynamics, normalize housing turnover is likely to stay.
Speaker 3 (08:28):
Weak so what could fix? It, well a drop in
mortgage rates could fix.
Speaker 2 (08:32):
It as inflation comes under control and The fed begins
to cut rates hopefully later this year and into twenty twenty.
Six for, sure affordability could, improve unlocking both buyers and.
Speaker 3 (08:45):
Sellers then supply has to.
Speaker 2 (08:47):
Increase home builders have to be enter into an environment
where they can make a good, profit and we've seen
them under pressure and in confidence, matter people need to
feel secure about the ability to keep their job and
to keep their incomes ahead of.
Speaker 3 (09:06):
Inflation i'm gonna skip durable. Goods it wasn't.
Speaker 2 (09:11):
That that, important And i'm running out of time. Here
so the, markets THE smp and The nasdaq hit new
all time highs, yesterday representing the thirteenth all time high
so far this. Year four of those thirteen happened just this.
Week THE smp finished above sixty three hundred for the
first time On, monday and The nasdaq broke twenty three
thousand for the first time On. Wednesday earning, season so,
(09:35):
far one hundred and fifty five of THE s AND
p five hundred companies have reported already eighty three percent
of them Beat Wall streets, expectations Albeit Wall streets expectations
were somewhat lower for this quarter with all of the.
Uncertainty so what's coming next? Week we've got a big
week next. Week earning season is going to. Continue more
(09:56):
trade deals are expected ahead Of Trump's august first. Deadline
jobs week begins On tuesday with jolts For. June The
fed rate decision comes On, tuesday ahead of the next
read for CORE pcee, inflation personal, income and personal spending On,
thursday and ahead of non form payrolls For july.
Speaker 3 (10:19):
That we'll be coming out On.
Speaker 2 (10:22):
Friday we'll find out what those businesses reported to THE
bls about, employment, hours work and earnings on workers when
the non form payrolls come. Out now that you're in
the know about the recent and upcoming financial, issues we
hope that you'll learn more about how we can help
you integrate those issues into your own. Stewardship find out
(10:44):
more about our ministry and how we can help you
be a good steward At Financial issues dot. Org i'm your,
Host Shanna. Bert stay. Tuned we'll be back with More financial.
Speaker 4 (10:53):
Issues security is offered THROUGH Ga repel And, company a
registered Broker dealer And Investment advisor MEMBER finra AND. Sipc
opinions expressed By shanna are hers alone and are for
informational purposes only and do not necessarily represent those OF
(11:16):
Ga repel or the outlet on what you are. Listening
you should consider how the information applies to your situation
prior to personally implementing, it and consult any financial professional
you work with to make sure it's applicable to your financial.
Speaker 2 (11:28):
Plan welcome back To Financial. Issues thanks for sticking with.
This it is rapid Fire friday today and our phone
lines are. Open if you deal thenumvernaw you'll be the
first caller in the. Queue six ten three six three eleven.
TEN i guess we must have answered everybody's questions yesterday
on the partner conference.
Speaker 3 (11:49):
Call nobody has any, today that's.
Speaker 5 (11:51):
Right don't be, shy, folks that's.
Speaker 2 (11:53):
Right if you did miss the partner conference, call don't
fret it. Is it is being reviewed right now and
should be POSTED i would think by the end of
the day to, day and so just check, back you,
know on the website when you're going to read the,
commentary or when you have some, time maybe over the,
weekend if you have some downtime and you want to
(12:15):
fill it with financial, issues you can go on and
listen to the replay of the partner conference. Call we're
going to get to some other questions and our verse
the day to. Day we're going to take a little
bit of a little bit more time than we usually
do going through this because our verse of the to
day to day was prompted by a question that was
(12:36):
sent in by one of our listeners or one of our.
Speaker 3 (12:40):
Partners, So, seth do you want to read that?
Speaker 5 (12:42):
Question, Boy i'd love, Too, Shanna it is a great.
Question so this Is becky and she's, asking what are
recommendations you have when a set of parents have not
done anything to prepare for saving for retirement and the
responsibility may weigh on us in the future next ten
to twenty. Years so she's talking about her. Generation There,
shanna what would be the best for us to plan
financially ahead in this possible situation of parents needing our
(13:05):
help financially and for care. Boy that's a really good.
Speaker 2 (13:08):
Question it is a good, question and so many different
scriptures started flooding through my mind AS i was reading
that question and starting, to you, know ponder my answer to.
It and so our stewardship verse today comes from One
timothy five. Eight but if anyone does not provide for his,
relatives especially for the members of his, household he has
denied the faith and is worse than an. Unbeliever, so you,
(13:33):
know a couple of verses, Earlier paul is urging children
and grandchildren to put their quote religion into, practice or
to practice godliness toward their own family, first to sort
of repay their parents for the care that was shown to.
Them So paul seems clearly to be putting the responsibility
(13:53):
for caring for widows on the shoulders of family before
the church needs to step up and offer. Support SO
i think that is a noble idea and a really
great way to, fulfill practically fulfill that fifth commandment and
position ourself for the blessing that comes with that, command
(14:15):
which is to honor your mother and, father that your
days may be long in the land that The lord
Your god is giving. You so the question That becky
really seems to be struggling with here is how to
reconcile the idea of taking care of her parents when
they need her help and potentially some of the finance
(14:36):
with help with some of their finances, too and the
responsibility of taking care of her own spouse and her
own children when resources may be a little bit. Limited,
so you, know what do we do when we cannot
financially do both reminded of what it says In genesis
two and twenty four that that is why a man
(14:59):
leaves his father and his mother and is united to
his wife and they become one. Flesh so this verse
establishes the priority and permanence of the marital relationship and by,
extension the formation of the new family.
Speaker 5 (15:13):
Unit and shann IF i could just hop in here real,
quickly that verse really kind of was the verse that was,
Mine megan's theme verse for when we were in premarital
counseling and when we got. Married that's one that we've
clung to a. Lot and the reason Is i'm not
puffing us. Up the reason is because we both have
a proclivity towards our families of, birth and so we
had to make an intentional effort to say we have
left our father and mother and we've clung to each.
(15:33):
Other it's so. Important i'm sure that we're not the
only ones out.
Speaker 2 (15:37):
THERE i can agree with, you BECAUSE i, mean it's
just that's one of the, things and we see it
here In becky's question. Too she feels so torn between
the two. Families so you, know we have to we
always have to dig deeper through the scriptures and you,
know really take it to The lord and ask him
to show. Us but you, know The genesis verse teach
us that, loyalty, leadership and revision shift from our parents
(16:02):
to our spouse and our. Children so, biblically it's our
first responsibility to take care of our spouse and. Children
so that means that if a choice must be made
between adequately providing for your children's need and supporting your
parents who are in financial, need especially she sort of
hints to, here due to lack of their own, planning
scripture CERTAINLY i believe gives weight to the nuclear. Family
(16:27):
another scripture that comes to mind Is Second corinthians twelve.
Fourteen it says for children are not obligated to save
up for their, parents but parents for that. Children sounds
sort of, harsh but it's not really a harsh. Rebuke
it's a reflection Of god's design for generational. Stewardship parents
are called to provide for their, children not the other way. Around,
(16:49):
so in other, words why stewardship doesn't presume upon their
children's resources but plans diligently for their own. Future scripture
commends the ant who store up in the summer and
the wise man who leaves an inheritance to his. Grandchildren
yet today many adult children are burdened by aging parents
who failed to say who spent freely when they should
(17:11):
have been storing, up and now expect financial rescue from
their sons and. Daughters so let's be clear that we
are called to honor our, parents and sometimes that includes financial,
help especially if we have the resources to do. It
but honor does not necessarily mean. Enabling if caring for
your parents put your own spouse and children at, risk
it can violate your primary, responsibility your primary stewardship responsibility
(17:36):
to the nuclear family that you, Created so we can
still show compassion without compromising. Wisdom we can help when,
able but we are not called to underwrite someone else's poor.
Planning so let's you, know, set do you have anything
that you want to interject at This.
Speaker 5 (17:52):
Well, shanna you know it's it's a fascinating. VERSE i
think you're exactly. Right here's the. Reality these these these two,
polls in these two directions are both good. Things you,
Know helping, parents providing for parents is a good. Thing
providing for children is a good. THING i really do believe,
though just like you, said there's a natural order that
we have to put these things. In The lord comes,
(18:13):
first after The, lord the most important relationship is the marriage.
Relationship so my for, Me megan comes, next and then after,
her my children come, next and after that then it's my,
parents then it's my in. Laws we have to get that,
right and if those orders get mixed up at, all
it can really be.
Speaker 2 (18:29):
Disastrous, yeah you, know and it's not always all about.
MONEY i know that's kind of how the question. Relates
but you, know we can still offer our time to
sit with or to help our, parents and we can
even offer financial help if we can afford, it and
if we can afford, IT i think we should do,
that perhaps even ahead of any of our other giving
(18:50):
that we might be planning to do or doing.
Speaker 3 (18:53):
Already you.
Speaker 2 (18:53):
Know it also reminds me of What jesus said to
The pharisees and Marks mark. Seven he, said but you,
say if a man tells his father or mother whatever
you would have gained from me is corbin that is
given To, god then you no longer uh permit him
to do anything for his father or. Mother that's making
the void the word Of god by your tradition that
(19:16):
you have handed, down and many such. Things So jesus
is really looking into the heart of The pharisees about
their excuses for not honoring their their mother and. Father
so you, know some do you have anything to add
to that set BEFORE i give some Practical, Well.
Speaker 5 (19:33):
SHAN i think THAT'S i think that's you know exactly. Right,
yeah there's not really much to add other than what
you just said. THERE i think YOU'RE i think you're right.
Speaker 3 (19:41):
ON i didn't want.
Speaker 2 (19:42):
TO i wanted to let you jump in there if
you had something to, Say, so you, know practical, tips
And i'm sure you KNOW i think that's what people
are looking for when they said his. Questions So i'm
going to say something in general that's gonna you, know
sound very tried at the, beginning but. Pray you, know
The lord has a real faithful way of providing his
children whatever we ask when we ask in his, name
(20:06):
according to his. Will and so you, know if your
heart is truly to provide for your family to not
be worse than an, unbeliever to be pleasing to The,
lord and to do the things that he asked you to,
do ask, him he, will he will make a. WAY
i can you, know never supposed to guarantee, anything BUT
i can guarantee it if if it says it in the,
(20:27):
WORD i believe that it's. True, so you, know, practically
have a hard talk with your, parents you, know if
this is something that is weighing on your, heart talk
to them about it includes your, siblings and you, know
maybe start to work towards a plan of you know
what that's going to look like for. You encourage your
parents in a loving way to try to get their
(20:47):
financial house in order by adopting a. Budget you, know
encourage them to to look at what they're spending to
look at the resources that they, have and you, know
to consider the things that might be coming down the.
Speaker 3 (21:01):
Road you, know it's never too.
Speaker 2 (21:02):
Late some people think that once they get into retirement
it's too, late BUT i, mean it's never too late
if we're being financially, irresponsible if we're being irresponsible in any,
way it's never too late as long as we have
breath in our bodies to repent and to change and
do something, different AND i believe that The lord will
honor those. Decisions if they own their own, home you
(21:23):
can explore the option of opening what's called a reverse
mortgage line of. Credit it's a little bit different than
the standard reverse. MORTGAGE i, mean it's certainly not the
first line of. Defense that are the first strategy THAT
i use When i'm looking at planning for retirement for,
people but for those who may be late stage already in,
(21:45):
retirement haven't accumulated a lot of. Assets most people have
a majority of their net worth in their, home so
that could be. Something i'm not saying it's the right,
thing but it's something that you can look. Into it's
a way that can help them tap into the equity
of their. Home it can provide some tax free. Income
(22:05):
SO i would, say you, know don't maybe don't explore this.
Option if you think that access to new funds would
be accessed prematurely or spent irresponsibly by your, parents all
that has to be taken into. Consideration AND i would
say avoid the temptation to go heavy into the whole medicaid,
planning you, know the elder planning, persuasion and because a
(22:31):
lot of times that's really motivated by trying to preserve someone's.
Inheritance expect that the financial resources That god has provided
to your parents will be used for their care before
trying to use the safety, net you, know the government
programs and things like.
Speaker 5 (22:48):
That, So, Janna i'm so glad that you said THAT
i would Encourage. Becky you, KNOW i hope that she
would maybe even follow up with, us because my guess,
is you, know she doesn't say, her shouldn't say her age,
here shouldn't say hold her you, know kids Are it
might look different if she's maybe for you, know newly,
married early twenties, thirties has little, kids versus if she's
in her fifties and her parents are in her, seventies
(23:09):
the situations might look a little bit different, there BUT
i definitely feel her heart with this question for.
Speaker 2 (23:13):
Sure way to carry you both, absolutely so you can
never go. Wrong you, know The lord promises that if
we seek, him we will find, him and if we
ask for, wisdom he will give it liberally without finding
fault in. Us so you're on the right, Track. Becky
trust that The lord's going to give you the answers
that you. Need AND i hope this helped encourage someone
else or may give them some food for thought.
Speaker 3 (23:34):
There so we're halfway through the. Show if you listen
on A shery station that.
Speaker 2 (23:39):
Only carries the thirty minute version of the, show we
wish you a. Farewell but if you stick, around we've
got More Financial issues to come find us in the
places that you watch podcasts or on our website financial
issues dot. Org welcome back To Financial. Issues thanks for
(24:09):
sticking with. Us we're officially in the second half of
the program today and it is rapid Fire.
Speaker 3 (24:14):
Friday phone lines are. Open you can be the first.
Speaker 2 (24:17):
Caller six ten three six three eleven ten is the
number to call if you've had experience in some of
the things that we were just talking. About if you've
if you've felt that burden to or that desire to
care for both your parents and your family at the same,
time you, know THAT'S i don't know what the statistics still,
(24:38):
are but it used to be that that average caregiver
for someone who was caring for elderly parents was in their,
forties married and had children of their, own and you,
know they were sort of sandwiched in between the responsibilities
of taking care of their parents and trying to raise
(24:59):
their our own family at the same, time and probably you,
know holding down a job or you, know being a
full time even if they're a full time wife and,
mom that is that is another full time. Job that's,
well you know that is considered a full time job as.
Well you, know so it's it's a precarious situation to be.
In AND i think one of the things that The
lord calls us to. Do some of the reason that
(25:22):
we walk through experiences a lot of times is you,
know for the refining of our own, character but also
once we get to the other side of, that to
be able to share the, experience the, hope the strength
that we got from persevering through. Challenges so if that
reminds you of something and encourages you to share that
(25:44):
with our. Audience give us a call six ten, three,
six three.
Speaker 5 (25:48):
Eleven you, Know, Shanna i'll go first, there if that's all,
RIGHT i guess you, know me And megan are trying
to prepare our hearts for that time right now we were,
talking you, know during the break there that for, guys of,
actually there's a special relationship with your. Mom you, know
if you have a good relationship with your, mom she's
the most important woman in your life before your. Wife
(26:08):
but once you meet your, wife your wife becomes the
most important hands. Down it's funny because you, Know megan
AND i are kind of learning this right now where
she is loving On josiah And, knox knowing that right
now she's their number one, gal but someday she won't.
Be AND i Praise god that she's reckoning with. THAT
i have to do the same thing With. Eloise, Also
i'm her favorite, guy But i'm going to give her
(26:29):
to another guy, someday AND i have to be okay with,
that you, Know and so that's What i've been told.
Exactly so having, that you, know AS i, mean as,
parents you, know and this is kind OF i guess
reversing the perspective From becky's, question is we can give
such a gift to our children when they become, adults
to be able to say it's okay for you to
choose your. SPOUSE i, BECT i want you to choose your.
(26:51):
Spouse i've raised you to choose your. Spouse i'm okay
with coming second. NOW i think that's just so, important
and it's it's, hard it's really.
Speaker 2 (26:59):
Hard it's hard, teaching and you, know it's something though
THAT i think as parents we need to prepare ourselves.
For like you, said it's you know what what happens
most of the time when when people get. Married i'm
thinking Of facebook posts And i'm thinking of you, know
experiences and.
Speaker 3 (27:14):
Things welcome to our.
Speaker 2 (27:15):
Family that's what the parents, say when really they should be,
saying congratulations on starting your.
Speaker 5 (27:22):
Needs you just started your. Own, YEAH i, Know. Shanna
it's it's so. True and it's so easy for me
to speak sounding callous to BECAUSE i haven't gone through it.
Yet BUT i have to prepare, to you, know absorb
these words as well WHEN i get to that. Age
but my daughter will not be welcoming a son in
law to our. Family when she gets, MARRIED i will
be giving her away and she'll be starting her own.
Family and that's the. Truth that's a wonderful good thing
(27:43):
we should. Encourage that we should because it's Because god's design.
Speaker 2 (27:46):
Right and so that's that speaks to another stewardship. Responsibility
make sure your own house is an order so that
you're not a burden to your children later, on and
in doing that you will teach your children good stewardship
habits as.
Speaker 5 (28:00):
Well, yeah well.
Speaker 3 (28:02):
Said The word Of god is so.
Speaker 2 (28:04):
Multifaceted if we just will follow, it even if we
don't understand everything that The word is telling, us or
That god tells, us or Why he tells us certain,
things if we just follow, it you, know we're guaranteed.
Speaker 3 (28:14):
Success.
Speaker 5 (28:15):
Yeah you, Know, shanna speaking of The word Of, god
you had referenced the verse From, exodus honor your father and.
MOTHER i wonder if For becky's, situation perhaps the honoring
thing to do for her would be not necessarily just
enable and help and send money to her, parents but,
to like you, said help them create a, budget help
them figure it out on their, own you, know figure
out what might be the best way to. Go honoring
(28:36):
our parents doesn't always look like the way that maybe
we think it, does you, know.
Speaker 3 (28:40):
Right, right, so and for good or.
Speaker 2 (28:42):
Bad you, know our society has certain social safety. Nets
so you, know for the most, part an elderly person
is not just going to be put out on the
street and you, know left to be. Destitute, likely very
likely they have some social security. Income you, know they
have at worst case scenario if they need round the
(29:05):
clock care and they can't afford, it The Medicare i'm,
Sorry medicaid, program well is.
Speaker 3 (29:12):
There so you, know there's lots of.
Speaker 2 (29:14):
Options BUT i think we need to look to the
scripture and you, know try to take care of our
own the best that we can and while still balancing
our other stewardship.
Speaker 3 (29:23):
Responsiblites, wow we're making a whole show out of this.
Speaker 5 (29:25):
Today seriously fun.
Speaker 2 (29:28):
Stuff shanna good that's still up in, sixteen, three, six, three,
eleven and.
Speaker 3 (29:34):
Ten.
Speaker 5 (29:34):
Shanna by the, way if people call, in So darlene's,
back her back is feeling. Better she's back. Today so
if you want to talk To, darlene call, in. Folks
she's right. There she's waiting for, you.
Speaker 3 (29:47):
And she's a joy to talk.
Speaker 5 (29:48):
To, absolutely she, certainly Is. JENNA i know we have
a couple questions we can get to here before THE
ag report if we don't get any.
Speaker 3 (29:54):
Calls, okay let's do.
Speaker 5 (29:55):
It So john is up. First he, says my wife
AND i each have over five hundred thousand dollars in our.
Eye she's sixty. ONE i purchased two fifty thousand dollars
charitable gift annuities from MY ira In january of twenty twenty,
four which pay me two hundred dollars each. Month i've
been told that upon turning seventy and a half In
september of twenty twenty, SEVEN i will be able to
purchase an additional fifty thousand dollars annuity from MY, ira
(30:17):
and the withdrawal for the purchase would be tax free
and count toward my required. Distribution is this the? Case
thanks so? Much what do you?
Speaker 2 (30:24):
Think, well, gosh If i'm understanding What john is saying correctly,
HERE i want to just clarify that in order to
do the purchase from THE ira of a charitable gift
annuity and count it as tax, free you have to
be seventy and a half years. Old it doesn't seem
(30:47):
to me, well since he's asking when he is seventy
and a half and twenty twenty, Seven SO i would
refer you to your tax professional and take a look
at your twenty twenty four tax return to see if
YOUR ira distribution and was indeed tax. Free, now you
can make purchases from YOUR ira for anything that you.
(31:07):
Want you can request checks be sent to, anyone but
as far as it being tax free, income that's a
whole different. Story so the option to fund a charitable
gift annuity with YOUR ira as a what we call
the qualified charitable distribution is a once in a lifetime.
Election so there is a maximum of fifty four thousand
(31:32):
dollars for this type OF qcd to purchase a charitable gift,
Annuity SO i would caution you to find out about.
Speaker 5 (31:41):
That.
Speaker 2 (31:42):
Now if your wife is seventy and a half as,
well she can do the same, thing but it is
a one time. Election the other, consideration, too is to
list whenever you do these charitable gift, annuities make sure
you're listing the husband and the wife as joint income.
Beneficiaries otherwise the income is going to stop at the
(32:04):
death of the first. Beneficiary it's been my experience that
most spouses want their spouse to have all of the
benefit of the assets that they've accumulated while they're alive
until the time that they. Die so if you don't
list them as a joint, beneficiary that gift when the
income beneficiary dies is then made to. Charity the fifty
thousand dollars is not accessible or usable for the spouse
(32:29):
in neither is the.
Speaker 3 (32:30):
Income, also i'd say just.
Speaker 2 (32:33):
Make sure that you have a good blueprint in mind
when you're doing these charitable gift. Annuities they are great
things to, consider but it is a permanent. Gift it
gets the money completely out of your. Estate you do
get the income from it while you're, alive but again
it is money that doesn't come.
Speaker 3 (32:52):
Back to you or to your heirs for.
Speaker 2 (32:55):
Use all, right we're going to hear From Craig halgart
with the Agripor After, craig we're going to take a
break and then we'll come back and finish up Rapid
Fire friday At Financial. Issues here Comes craig in just a. Minute,
SORRY i thank you a little.
Speaker 6 (33:12):
Bit this Is Craig houlguard with Your Financial issues ag
update For july twenty. Fifth corn is experiencing a total
war between great weather conditions which point to a large
crop as well as solid demand for that. Corn new
crop sales of corn from an export perspective are seventy
four million bushels ahead of last year at this. Point
yesterday saw A december corn three and a quarter cents,
(33:33):
higher closing at four twenty and three. Quarters subby has
traded weaker throughout the session before being pulled slightly highed
by a strong soybean oil.
Speaker 5 (33:41):
Market now exports were.
Speaker 6 (33:43):
Disappointment new crop sales of soybeans are now behind last,
year which makes it our lowest point in the last five. Years,
currently new crop exports sales of soybeans total ninety six
million bushels versus one hundred and seven million at this
point last. Year november beans finished yesterday opinion and a
half higher at ten twenty five four and a. Quarter
we'd rallied on a strength of a strong exports sales.
(34:03):
Report now it's only week seven of the marketing, year
but we're currently five percent ahead of the pace needed
to reach the USDA's export projection in the young marketing.
Year total sales so far are thirty four point nine
million bushels ahead of last, year and THE usda is
just assuming a year over year increase in We the
exports of twenty four Million Minneapolis september we had finished
(34:24):
yesterday two and a half cents lower at five eighty
five and a. Half chicago was a penny higher at
five forty one and a, half And Kansas city was
a nickel, better closing at five twenty eight and a.
Half common futures continued their aimless trek. Sideways december futures
finished yesterday session forty seven points higher at sixty eight seventy.
One livestock futures out of mixed. Performance October live caliber
(34:46):
one dollars and thirty five cents lower two hundred and
twenty two dollars and fifteen cents per hundred Way September
feeder caliber two dollars and twenty five cents, lower closing
out today at thridded and twenty nine dollars and sixty
five cents per. Hundred OCTOBER leenhg futures were twenty cents
high in ninety one dollars and ten cents per one
hundred way glass Who milk futures experience their first hire
closed of the, week and the closing bell. Sounded we
(35:07):
Had August future sixteen points higher at seventeen twenty. Six
this has Been Craig holiguard with Your financial Issues egg.
Update we'll be right back with more financial issues after.
Speaker 4 (35:18):
This the opinions and recommendations expressed on this program do
not necessarily represent the opinions of the station or any
of the program's. Sponsors, additionally all products or services offered
by the program sponsors may not be known by the.
Speaker 7 (35:40):
Program welcome back To Financial. Issues we're in the home
stretch of the program today and our phone lines are.
Open six ten three six three eleven ten is the
phone number that you. Call we don't have anything on
social OR u any.
Speaker 3 (36:00):
Questions you.
Speaker 5 (36:02):
Know the chat is just as as delightful as. EVER
i think the conversation early in the show is Surrounding Jeffrey,
epstein which is not exactly what we were talking, about
but nonetheless it's fun to see. It so, yeah so
many people in the, Chat george And lisa just to
name a. Few Uncle john's, There jason's, There james. There
so we're having some, fun.
Speaker 3 (36:23):
Good deal Yep, Ye, WELL i know we got plenty
of other questions.
Speaker 5 (36:26):
There, yeah sounds, Good. Shannon let's get it started With frederick. Here,
FREDERICK i believe by his, title did serve in The
United States Air. Force so thank you for your service, There.
Frederick here's his, Question, shanna what do you think of
the effort underway in several, states particularly the state with
a single star on its? Flag which state that could
be to create state based legal tender with value tied
(36:48):
to gold and. Silver there's a major proponent of it
out there who's the author of a somewhat famous book about.
This he's wondering is such a currency something the partners
should support in our home? States frederick lives In. Georgia
since our portfolios are now denominated in, dollars what sort
of investment changes might the partners anticipate should a gold
standard currency become a. Reality And, CHANNA i might just
(37:10):
add a follow up to that too as. Well is
it really even a logical possibility that this could?
Speaker 3 (37:15):
Happen, yeah so that was my first. Thought you, KNOW
i think it's a noble.
Speaker 2 (37:19):
Idea you, KNOW i wish we never would have come
off the gold, Standard, yep you, KNOW i wish we
didn't have a central. Bank but you, know my biggest
question really is whether or not it's it's even. Possible you,
know even if the states do certain, things AND i
think certain things that they're that that they're doing is
(37:40):
permissible from a constitutional, standpoint you still have federal issues
like the capital gains, tax the federal federal capital gains
tax on, uh the.
Speaker 3 (37:52):
Sell of, gold the so the tax ability of.
Speaker 2 (37:55):
That and then of course you have the underlying, issue
which is the against The fed and the deep. State
so this is, something this is an idea that would
be fought tooth and nail by the powers that.
Speaker 3 (38:11):
Be so.
Speaker 2 (38:14):
If it did have any possibility of, HAPPENING i don't
think that it would happen, overnight you, Know AND i
REALLY i know what The bible says about the human,
heart AND i know what power does to. People power,
corrupts and absolute power corrupts. Absolutely and when you control monetary,
(38:35):
systems that comes with a lot of power that once people,
get they don't want to give. Up and you, KNOW
i really struggle with this idea if human beings can
actually create and maintain a decentralized, system so someone has
(38:55):
to be in control in some kind of, capacity and you,
know my thought is that corruption will eventually find its
way into that, system into the new, system and destroy
it as. Well so you, KNOW i JUST i think
it's a noble, idea and if we moved in that,
(39:16):
DIRECTION i think it would be. Welcome BUT i just
can't spend a lot of time coming up with elaborate
plans of how to operate under a system that may
never come into. Existence so you, know my time has
really spent focusing on being the best steward THAT i
can be under whatever system THAT i happen to be
(39:37):
operating in at the.
Speaker 3 (39:38):
TIME i hope that makes.
Speaker 5 (39:40):
Sense, Yeah, no that's a really Good, Shanna it's a good. Principle,
actually we in my history, studies one of the warnings
THAT i, received which was really, good was was try
to avoid dealing in what if. Scenarios, now it's one
thing to plan for, possibilities but it's another thing to, Say,
okay if this, happens or if this had, happened what
would have? Happened to thinking. Retroactively so, YEAH i totally
(40:02):
agree with. You be far better for us to focus
on the system that we're in and make the most of.
Speaker 2 (40:08):
It but all you have to do is spend a
few minutes on social media and you're gonna find all
kind of what if what if people speculating on what
if strategy.
Speaker 5 (40:18):
Exactly especially on the conservative. Right i've noticed as, well
we tend to do that a. Lot so hopefully financial
issues could be a breath of fresh air.
Speaker 2 (40:26):
There, yeah, yeah we have, to we have to really
take a hard look at what's in front of us
and just operate to the best of our abilities with
the information that can be. Known and you know how
many times in The bible does it tell us not
to worry about the future because today has enough problems
(40:46):
of its, Own and so you know why spend why
waste increase your cortisol levels and waste time and energy
speculating about what could? Happen because really that's what what fear,
is and that that's one way that the enemy steals
our tom and our piece is to get us to
to think about things that might never even.
Speaker 5 (41:09):
Happen well, said, gosh you, Know, shanna have to tell,
You i've won so many pretend conversations in my, mind
but they never actually came to. FRUITION i wasted so
much time doing, them but, MAN i had some zingers
in there. Anyway, yeah, right good.
Speaker 2 (41:23):
Stuff you spend so much time rehearsing a certain situation
and thinking through every angle and then you get to
it and it was, like, oh.
Speaker 5 (41:32):
Just completely different.
Speaker 2 (41:33):
Exactly, yeah, absolutely we go HOW i thought and you, know,
yeah that's Good.
Speaker 5 (41:38):
Shanna all. Right joseph's up. Next here he is, saying
my wife is sixty seven years. Old she has a
roth ira that has met the five year aging. Period
if we were to transfer a rollover individual securities in
like kind from a TRADITIONAL ira to the wroth ira
at different time, intervals do you think each of would
each of these separate transfers require their own five year
(42:00):
aging period before being eligible for tax free withdrawal or
would that occur immediately after the, transaction assuming the taxes
have been? Paid and what are my choice of methods
for paying the? TAXES a couple questions, There shannon From.
Speaker 2 (42:11):
Joseph, yes and, no there's my revaire there you. Go
so for roth distributions to qualify for tax free, withdrawal
you have to meet two basic. Criteria you have to
be fifty nine and a half years, old which your
wife checks that, box and the account has to have
been open for five. Years so even if you open
(42:32):
The wroth way back in nineteen ninety seven ninety eight
when they were, created and whether or not you added
regularly to them or, not as long as you've had
it opened for five, years she's good for that qualified
tax free. Withdrawal now that being, said Each wroth, conversion
now here's the general, information that's the specific answer To lee.
(42:55):
There but Each wroth conversion does have its own five
year clock that starts whenever you do a. Conversion but
it's for to determine whether or not you're subject to
the ten percent early withdraw. Penalty so since your wife
checks the box of being fifty nine and a, half
no early withdrawal, Penalty so the penalty only applies to
(43:19):
if the person is under fifty nine and a half
when the conversion. Happens so you, know lots of little caveats.
There SO i would say that if you're in a particular,
situation it's best to get final guidance from your tax.
Person so the other part of the question the option
about paying the. Taxes SO i would opt for paying
(43:42):
the taxes with any outside money that you may have
because when you do the only way if you don't
have earned income and you can't make the, contribution the
only real way to get money into a roth is
through those. Conversions and so the idea is to get
as much money as you can into that roth. Conversion
so you do have one option of withholding taxes whenever
(44:04):
you do the wroth, conversion but what will happen is
that you'll get less money into the.
Speaker 3 (44:10):
Wroth so if you.
Speaker 2 (44:11):
Don't withhold, taxes you put the full amount that you're
converting over into the wroth and pay the taxes maybe
with some outside money that you, have like.
Speaker 3 (44:26):
You, know savings or something like.
Speaker 2 (44:27):
That that's a better option that maximizes the potential of
the wroth. There so the other thing too is if
you're under fifty nine and a, half that may not
be the best course of action for you because if
you do a distribution like a roth conversion in the full,
amount you, know if you have taxes, withheld you could
(44:49):
be subject to ten percent penalty on that portion that
you used to pay the. Taxes so lots of little
ins and outs.
Speaker 5 (44:58):
There, yeah good. Stuff this question from the Chat Shannon
robert From texas is asking do we still have a
FREEBR i screener on THE fisim, website and indeed we, do,
right we, do.
Speaker 2 (45:08):
SO i believe it's under the resources tab there. Seth
you probably can tell them real.
Speaker 5 (45:13):
Definitely so resources, Tab, robert go down to evaluator lowercase
e UPPERCASE v, evaluator click on that and then follow
those steps and you can use the FREEBR i screener.
Speaker 2 (45:23):
Yep so you can just type in the stock symbol
that you, have or the mutual fund or THE etf,
symbol and it will give you a really quick answer
as to whether or not the company that you're looking
at is clean or. Dirty there also is another tool
that we do reference from time to. Time our primary
tool is the evaluator, one but there is a free
(45:45):
tool on The inspire.
Speaker 3 (45:47):
Website let's see IF.
Speaker 2 (45:50):
I can get the the address quickly, TOO i think as,
Well inspire insight dot. Com and it's super easy to
use to you just flop your symbol in there at the,
top and it doesn't give you as much information as
the evaluator, does and they have a little bit different,
methodology but for the biggest issues they're pretty well on
(46:12):
the same page the two screeners. Together all, right, WELL
i think we're out of time for you.
Speaker 3 (46:18):
Now, yeah it.
Speaker 2 (46:20):
Was even though we didn't get any phone, calls we
had lots of great. QUESTIONS i hope that we educated some.
PEOPLE i hope that we encourage some. PEOPLE i hope
that we equip some people to be better stewards Because
god owns it. All The master's coming back one day
and we're going to have a. Test we're going to
be asked the question about how we handle the, time,
(46:42):
talent and treasure that we were trusted By god to.
Speaker 3 (46:45):
Manage we hope that.
Speaker 2 (46:47):
The work that we do here at the ministry equips
you to be able to be called a good and
faithful steward one day when that time comes for. You
enjoy a wonderful day of worship On sunday and come
back for more or financial issues next. Week check us
out in the Meantime financial issues dot.
Speaker 1 (47:04):
Org if we ever forget that we're one nation Under,
god then we will be
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