Today's faith and finance live is actually not live, so our phone lines are not open.

Today's faith and finance live is actually not live, so our phone lines are not open.

Beware lest you say in your heart my power and the might of my hand have gotten me this wealth. You shall remember the Lord your God, for it is he who gives you the power to get wealth. Deuteronomy 817 and 18. Hi, I'm Rob West. This passage powerfully reminds us that God owns everything, and we're merely stewards of what he has entrusted to us for a season. Today, Cody Hoberman joins us to discuss how you can establish your first financial finish line. Then we have some great calls lined up, but we won't be taking your live calls today because we're pre-recorded. This is faith in finance. Live. Biblical wisdom for your financial journey. Well, we are absolutely delighted to welcome Cody Hoberman to the program for the first time. Cody is a certified Financial planner and a Certified Kingdom Advisor. He has an article in our new publication, Faithful Steward, that I can't wait for you to read. He's also the founder, alongside his brother Keelan, of an incredible movement that you can find at Finish Line pledge.com. And we'll talk about that a little later in the broadcast. But first, Cody, great to have you here.

Beware lest you say in your heart my power and the might of my hand have gotten me this wealth. You shall remember the Lord your God, for it is he who gives you the power to get wealth. Deuteronomy 817 and 18. Hi, I'm Rob West. This passage powerfully reminds us that God owns everything, and we're merely stewards of what he has entrusted to us for a season. Today, Cody Hoberman joins us to discuss how you can establish your first financial finish line. Then we have some great calls lined up, but we won't be taking your live calls today because we're pre-recorded. This is faith in finance. Live. Biblical wisdom for your financial journey. Well, we are absolutely delighted to welcome Cody Hoberman to the program for the first time. Cody is a certified Financial planner and a Certified Kingdom Advisor. He has an article in our new publication, Faithful Steward, that I can't wait for you to read. He's also the founder, alongside his brother Keelan, of an incredible movement that you can find at Finish Line pledge.com. And we'll talk about that a little later in the broadcast. But first, Cody, great to have you here.

Thanks, Rob I'm glad to be here.

Thanks, Rob I'm glad to be here.

All right Cody, your article is titled setting your first finish line, which I don't think many people do, but they should because prosperity is challenging, to say the least. And we certainly experienced that living in the most prosperous nation in the history of the world. But I love where you start this article because you point out this really isn't unique to us, is it?

All right Cody, your article is titled setting your first finish line, which I don't think many people do, but they should because prosperity is challenging, to say the least. And we certainly experienced that living in the most prosperous nation in the history of the world. But I love where you start this article because you point out this really isn't unique to us, is it?

You know, Rob, it's really not. And in this passage that you kicked us off with from Deuteronomy, the Israelites have been wandering for 40 years in the desert. They're standing across the Jordan River from the Promised Land, their destination that they've been working towards this whole time. And Moses takes time to address the entire nation of Israel. And he knew something about the Promised Land, and he wanted them to be prepared that as they enter in, they would be facing a challenge that was more difficult than hunger, disease, or even attacks from rival nations. And that is prosperity.

You know, Rob, it's really not. And in this passage that you kicked us off with from Deuteronomy, the Israelites have been wandering for 40 years in the desert. They're standing across the Jordan River from the Promised Land, their destination that they've been working towards this whole time. And Moses takes time to address the entire nation of Israel. And he knew something about the Promised Land, and he wanted them to be prepared that as they enter in, they would be facing a challenge that was more difficult than hunger, disease, or even attacks from rival nations. And that is prosperity.

Yes.

Yes.

You see, Moses knew they would be tempted to rely on their own strength and take credit for the abundance that God was about to give to this nation. And he wanted to remind them that this is actually God's provision. It belongs to him, and we would only ever be stewards of that gift.

You see, Moses knew they would be tempted to rely on their own strength and take credit for the abundance that God was about to give to this nation. And he wanted to remind them that this is actually God's provision. It belongs to him, and we would only ever be stewards of that gift.

That's right.

That's right.

However, today we face that same test, and I've faced it in my own life. I would say at times not very well I'm learning. But in recent years there's a tool that I was introduced to that has dramatically changed the way that I see finances, and that is a financial finish line.

However, today we face that same test, and I've faced it in my own life. I would say at times not very well I'm learning. But in recent years there's a tool that I was introduced to that has dramatically changed the way that I see finances, and that is a financial finish line.

Well, I appreciate your transparency on that and the great work you've done to encourage God's people to really lean into this idea. I want to dive into the nuts and bolts of the various approaches to giving. First, though, because you provide a really helpful what you call allocation framework in the article. Share these ideas around giving.

Well, I appreciate your transparency on that and the great work you've done to encourage God's people to really lean into this idea. I want to dive into the nuts and bolts of the various approaches to giving. First, though, because you provide a really helpful what you call allocation framework in the article. Share these ideas around giving.

Yeah, I'd love to. So allocation simply refers to how do we answer the questions, how much should I give or how much should I keep. And we've seen five major ways that people answer these questions. It's spontaneous giving a giving goal, percentage giving, incremental percentage giving, and a financial finish line.

Yeah, I'd love to. So allocation simply refers to how do we answer the questions, how much should I give or how much should I keep. And we've seen five major ways that people answer these questions. It's spontaneous giving a giving goal, percentage giving, incremental percentage giving, and a financial finish line.

Okay.

Okay.

Spontaneous giving is exactly what it sounds like. It's giving without a whole lot of planning beforehand. A giving goal is picking a number. I want to give X dollars this year, for example.

Spontaneous giving is exactly what it sounds like. It's giving without a whole lot of planning beforehand. A giving goal is picking a number. I want to give X dollars this year, for example.

Sure.

Sure.

Percentage giving this is a pretty common one. You pick a percentage of whatever you earn and that's what you give. Yeah, incremental percentage giving build some growth into that. So you're increasing the percentage of your income that you give over time. And we've probably heard of many of these frameworks. However a financial finish line flips everything on its head. This is where we define a maximum for our spending, which forces you to recognize that this is all God's. We are stewards. We only need so much of his provision for our own needs, and everything above that number can be used to build his kingdom.

Percentage giving this is a pretty common one. You pick a percentage of whatever you earn and that's what you give. Yeah, incremental percentage giving build some growth into that. So you're increasing the percentage of your income that you give over time. And we've probably heard of many of these frameworks. However a financial finish line flips everything on its head. This is where we define a maximum for our spending, which forces you to recognize that this is all God's. We are stewards. We only need so much of his provision for our own needs, and everything above that number can be used to build his kingdom.

That is powerful. And I'm sure our listeners found themselves in one of those giving models that you unpack their their giving spontaneously, or they set their annual goal, or they say, you know what? 10% is that number? Or maybe they get a little more advanced and say, all right, it's 10% this year, but next year it's going to be 11 and then 12 after that. But this idea of a financial finish line recognizing it's all God's and then saying, how much are we going to keep, Actually flips the whole paradigm upside down. So when we come back here, Cody, I can't wait to walk through the mechanics of what this actually looks like. Folks, you might be able to set your very first financial finish line. Cody is going to help you do just that. He's here today. He's a CFP and a certified Kingdom advisor, and we got a lot more to come just around the corner. You're not going to want to go anywhere. We'll be right back. Thanks for joining us today on Faith and Finance Live. Have you ever thought about creating a financial finish line? What is it? Well, we're going to help you understand that today. Cody Hoberman is here. Cody is a part of a movement called the Finish Line pledge. You can check it out at Finish Line pledge.com alongside his brother Keelan. He's also a certified Kingdom Advisor and a certified financial planner at Cody. Has an article in the new Faithful Steward publication titled Setting Your First Finish Line. If you'd like to ensure that this incredible publication arrives at your door each quarter, you can head to our website faithful.com. Click give. You'll help us reach more people with this message and ensure that you get this every quarter. But today we're talking about Finish lines. And Cody, before the break, you shared with us various allocation frameworks. You called them like spontaneous giving or percentage giving, even an incremental percentage giving approach that allows you to increase that over time. But as we said, the financial finish line is really the only approach that says it all belongs to God. And I'm just going to decide how much I keep. So let's walk through the mechanics of what this actually looks like to set a finish line.

That is powerful. And I'm sure our listeners found themselves in one of those giving models that you unpack their their giving spontaneously, or they set their annual goal, or they say, you know what? 10% is that number? Or maybe they get a little more advanced and say, all right, it's 10% this year, but next year it's going to be 11 and then 12 after that. But this idea of a financial finish line recognizing it's all God's and then saying, how much are we going to keep, Actually flips the whole paradigm upside down. So when we come back here, Cody, I can't wait to walk through the mechanics of what this actually looks like. Folks, you might be able to set your very first financial finish line. Cody is going to help you do just that. He's here today. He's a CFP and a certified Kingdom advisor, and we got a lot more to come just around the corner. You're not going to want to go anywhere. We'll be right back. Thanks for joining us today on Faith and Finance Live. Have you ever thought about creating a financial finish line? What is it? Well, we're going to help you understand that today. Cody Hoberman is here. Cody is a part of a movement called the Finish Line pledge. You can check it out at Finish Line pledge.com alongside his brother Keelan. He's also a certified Kingdom Advisor and a certified financial planner at Cody. Has an article in the new Faithful Steward publication titled Setting Your First Finish Line. If you'd like to ensure that this incredible publication arrives at your door each quarter, you can head to our website faithful.com. Click give. You'll help us reach more people with this message and ensure that you get this every quarter. But today we're talking about Finish lines. And Cody, before the break, you shared with us various allocation frameworks. You called them like spontaneous giving or percentage giving, even an incremental percentage giving approach that allows you to increase that over time. But as we said, the financial finish line is really the only approach that says it all belongs to God. And I'm just going to decide how much I keep. So let's walk through the mechanics of what this actually looks like to set a finish line.

You know, Rob, it really starts by building and maintaining a solid plan for your finances. And the way I see it, you can break down your personal finances into four categories. That's personal spending, taxes, planning for the future, and kingdom building. Personal spending is is anything that you spend to maintain your current lifestyle. That's things like transportation, housing, clothing, food. These are things that we're used to budgeting for. Planning for the future involves savings for things that you're not spending on today. So this could be a car purchase you see coming up in the future. It could be you're saving up for a home or some kind of real estate, or even retirement, for example. Sure, taxes. We all know about taxes. Yeah, I don't think I need to explain that one.

You know, Rob, it really starts by building and maintaining a solid plan for your finances. And the way I see it, you can break down your personal finances into four categories. That's personal spending, taxes, planning for the future, and kingdom building. Personal spending is is anything that you spend to maintain your current lifestyle. That's things like transportation, housing, clothing, food. These are things that we're used to budgeting for. Planning for the future involves savings for things that you're not spending on today. So this could be a car purchase you see coming up in the future. It could be you're saving up for a home or some kind of real estate, or even retirement, for example. Sure, taxes. We all know about taxes. Yeah, I don't think I need to explain that one.

And then kingdom.

And then kingdom.

Building is really anything that is focused on others. So that's usually in the form of giving to a ministry or to an individual or some other kind of impact work that's not focused on yourself.

Building is really anything that is focused on others. So that's usually in the form of giving to a ministry or to an individual or some other kind of impact work that's not focused on yourself.

Okay.

Okay.

Yeah, that's helpful to put it into those buckets. And we're going to dial into personal spending or what we might call lifestyle spending. And we often say, Cody, on this program, that lifestyle is the primary determinant of financial success. And so this really is the area we need to zero in on. Right.

Yeah, that's helpful to put it into those buckets. And we're going to dial into personal spending or what we might call lifestyle spending. And we often say, Cody, on this program, that lifestyle is the primary determinant of financial success. And so this really is the area we need to zero in on. Right.

Exactly.

Exactly.

And that's why in my own story and in our recommendations, we always say you should start with your lifestyle finish line because of the level of importance that that has for anyone on this journey. So that looks like setting a maximum that you're willing to spend on your own lifestyle. And it's easy to think about that as a monthly amount. So what this really accomplishes is it protects you against lifestyle creep or just the rising cost of your lifestyle, when that's not what you intended. It keeps you aligned with God's purposes for your finances, and there are several ways that people arrive at how to set their spending finish line. But I want to give you three of the most common ways that people have done this, from my own experience.

And that's why in my own story and in our recommendations, we always say you should start with your lifestyle finish line because of the level of importance that that has for anyone on this journey. So that looks like setting a maximum that you're willing to spend on your own lifestyle. And it's easy to think about that as a monthly amount. So what this really accomplishes is it protects you against lifestyle creep or just the rising cost of your lifestyle, when that's not what you intended. It keeps you aligned with God's purposes for your finances, and there are several ways that people arrive at how to set their spending finish line. But I want to give you three of the most common ways that people have done this, from my own experience.

Okay.

Okay.

The first is a maintenance spending finish line. It's probably the simplest because it simply is locking in your current spending. So if you believe that your current spending on your lifestyle is appropriate and you don't intend for it to grow beyond what you intended, what you can do is say, I'm drawing a line. That is your maintenance spending finish line. I'm not going to increase from here.

The first is a maintenance spending finish line. It's probably the simplest because it simply is locking in your current spending. So if you believe that your current spending on your lifestyle is appropriate and you don't intend for it to grow beyond what you intended, what you can do is say, I'm drawing a line. That is your maintenance spending finish line. I'm not going to increase from here.

Yeah, and that's a big idea in and of itself, Cody, because as we know, our level of spending always rises to our level of income unless we protest to the contrary. So drawing that line would ensure that additional increases in income would not just be gobbled up in more lifestyle spending. Right?

Yeah, and that's a big idea in and of itself, Cody, because as we know, our level of spending always rises to our level of income unless we protest to the contrary. So drawing that line would ensure that additional increases in income would not just be gobbled up in more lifestyle spending. Right?

That's right. Excellent.

That's right. Excellent.

The second method, this is actually how Kellan and I set our own finish lines, and it's a somewhat popular method, is to look at what is reasonable. And that's using census data. There's all kinds of ways to to arrive at this, but we call it a benchmark spending finish line because you're not making this decision purely from your own opinion. You're looking out and trying to get objective data to help inform your decision of where to set a benchmark. And what we've done is actually created a website that you mentioned, finish line Page.com. On our website, you can find a calculator that we used when setting our own finish lines. And many people have found that to be a helpful tool as well.

The second method, this is actually how Kellan and I set our own finish lines, and it's a somewhat popular method, is to look at what is reasonable. And that's using census data. There's all kinds of ways to to arrive at this, but we call it a benchmark spending finish line because you're not making this decision purely from your own opinion. You're looking out and trying to get objective data to help inform your decision of where to set a benchmark. And what we've done is actually created a website that you mentioned, finish line Page.com. On our website, you can find a calculator that we used when setting our own finish lines. And many people have found that to be a helpful tool as well.

Yeah.

Yeah.

And I would really encourage you to check that out. Finish line pledge.com/calculator. They've really taken the guesswork out of this. All right. You mentioned there was a third approach.

And I would really encourage you to check that out. Finish line pledge.com/calculator. They've really taken the guesswork out of this. All right. You mentioned there was a third approach.

There is. And this is what we call your prioritization spending finish line. And really the long and short of it is, once you have an idea of what you're currently spending, you can look at where that money is flowing and you can start to build out categories and decide which one of these are really aligned with my values and what God says is important and what is actually distracting me from that. And as you start to whittle away at the things that are not helping you align your heart with God's will for your life, you can zero in on a more targeted budget. So it's working your way down, cutting the fat, and focusing your finish line on the things that are highest priority in your life.

There is. And this is what we call your prioritization spending finish line. And really the long and short of it is, once you have an idea of what you're currently spending, you can look at where that money is flowing and you can start to build out categories and decide which one of these are really aligned with my values and what God says is important and what is actually distracting me from that. And as you start to whittle away at the things that are not helping you align your heart with God's will for your life, you can zero in on a more targeted budget. So it's working your way down, cutting the fat, and focusing your finish line on the things that are highest priority in your life.

Yeah, that's really helpful. Well, of course, to get started, folks can go to finish line pledge.com/calculator. But I'd love for you just to talk about where they go from here beyond the website, because by virtue of the title of this article, your first finish line. It means this is a living process that is going to happen over time. So where do they start?

Yeah, that's really helpful. Well, of course, to get started, folks can go to finish line pledge.com/calculator. But I'd love for you just to talk about where they go from here beyond the website, because by virtue of the title of this article, your first finish line. It means this is a living process that is going to happen over time. So where do they start?

That's absolutely right. And it can feel like a really big decision. And honestly, for me it felt like a sacrifice when I first heard of this concept. So what we recommend is try it out for 3 or 6 months. We've talked to several people who have done just that. And you know, Rob, I'm not sure I've seen anyone actually turn back after a trial run. And that's because there's a significant transformation that happens on a spiritual level. Once you actually put structures in to align your finances and submit it to God and say, what do you want for my life? And what have you given me to pursue that? So that's why we use the language. Set your first spending finish line because nobody expects to master something the first time they try it. So this is something that's meant to be dialed in and adjusted throughout time. And there are very legitimate reasons to do so. But it is so much better to start somewhere and adjust over time, then to never start at all.

That's absolutely right. And it can feel like a really big decision. And honestly, for me it felt like a sacrifice when I first heard of this concept. So what we recommend is try it out for 3 or 6 months. We've talked to several people who have done just that. And you know, Rob, I'm not sure I've seen anyone actually turn back after a trial run. And that's because there's a significant transformation that happens on a spiritual level. Once you actually put structures in to align your finances and submit it to God and say, what do you want for my life? And what have you given me to pursue that? So that's why we use the language. Set your first spending finish line because nobody expects to master something the first time they try it. So this is something that's meant to be dialed in and adjusted throughout time. And there are very legitimate reasons to do so. But it is so much better to start somewhere and adjust over time, then to never start at all.

Yeah, that's well said. Is this only for ultra high net worth clients? Cody.

Yeah, that's well said. Is this only for ultra high net worth clients? Cody.

You know, Rob, when I set my first finish line, I was actually 26 years old. My wife was in school working part time. We were so far from what we thought was enough. And what happened in my my own story is it actually radically broadened my view of what God had for my life, because I saw I'm actually way closer to having enough than I ever thought. If you never define enough, you'll never reach it. So by actually having a number where I could say, I don't need more than this, it allowed me to really explore what God had for my life. So I believe there's there's a real spiritual significance to defining enough, even if you don't feel like you have enough today.

You know, Rob, when I set my first finish line, I was actually 26 years old. My wife was in school working part time. We were so far from what we thought was enough. And what happened in my my own story is it actually radically broadened my view of what God had for my life, because I saw I'm actually way closer to having enough than I ever thought. If you never define enough, you'll never reach it. So by actually having a number where I could say, I don't need more than this, it allowed me to really explore what God had for my life. So I believe there's there's a real spiritual significance to defining enough, even if you don't feel like you have enough today.

That's well said. We've got just about 20s left. Is this a conversation you should have with your advisor as well.

That's well said. We've got just about 20s left. Is this a conversation you should have with your advisor as well.

Cody I think it is because advisors, especially Kas, will have training in how to do this. They may even have a finish line themselves, and they're used to helping you implement something like this, not only for your income, but for your net worth as well.

Cody I think it is because advisors, especially Kas, will have training in how to do this. They may even have a finish line themselves, and they're used to helping you implement something like this, not only for your income, but for your net worth as well.

Wow, that's so good. We're going to have to have you back. But I really appreciate these insights, folks. Check out Finish Line pledge.com. Take the pledge. Jump into the calculator. You will be glad you did. Cody. Thanks for stopping by.

Wow, that's so good. We're going to have to have you back. But I really appreciate these insights, folks. Check out Finish Line pledge.com. Take the pledge. Jump into the calculator. You will be glad you did. Cody. Thanks for stopping by.

Thanks, Rob.

Thanks, Rob.

That's Cody Hoberman, certified financial planner and Certified Kingdom Advisor. Check out his article in the latest edition of Faithful Steward. I'm Rob West and this is Faith and finance live. We'll be right back.

That's Cody Hoberman, certified financial planner and Certified Kingdom Advisor. Check out his article in the latest edition of Faithful Steward. I'm Rob West and this is Faith and finance live. We'll be right back.

I'm.

I'm.

So glad to have you with us today on Faith and Finance Live. Our team is away today, so don't call in. But we lined up some great questions in advance and we'll be going to those here in just a moment. Let me also remind you that the advice that I give each day on this program is general in nature. We offer principles and ideas that apply at a high level. They are not personalized. So that's why you should always seek professional financial advice. And if you'd like to find a professional who shares your values, we of course, here at Faith and Finance Live recommend the Certified Kingdom Advisor designation. These are men and women who've met high standards, and they've been trained to bring a biblical worldview of financial decision making. You can find one at Faith find.com. Uh, let's head to Mississippi. Hi, Steve. Go right ahead. Sir.

So glad to have you with us today on Faith and Finance Live. Our team is away today, so don't call in. But we lined up some great questions in advance and we'll be going to those here in just a moment. Let me also remind you that the advice that I give each day on this program is general in nature. We offer principles and ideas that apply at a high level. They are not personalized. So that's why you should always seek professional financial advice. And if you'd like to find a professional who shares your values, we of course, here at Faith and Finance Live recommend the Certified Kingdom Advisor designation. These are men and women who've met high standards, and they've been trained to bring a biblical worldview of financial decision making. You can find one at Faith find.com. Uh, let's head to Mississippi. Hi, Steve. Go right ahead. Sir.

I just encourage your and our listeners to not retire if they can, because they've never read retirement in the Bible except for Levites and priests. Yeah. And unless they're in a physically, physically demanding job, I plan to work until Jesus comes back or until he takes me home. Yes, I'm a pharmacist, so I don't have I don't have a very hard, physical, hard job. And I've also been so thankful that I can take any kind of IRA money and send it directly to my church without any taxes. I'm just that just thrills my soul. Yeah. So I just want to encourage our listeners to do that.

I just encourage your and our listeners to not retire if they can, because they've never read retirement in the Bible except for Levites and priests. Yeah. And unless they're in a physically, physically demanding job, I plan to work until Jesus comes back or until he takes me home. Yes, I'm a pharmacist, so I don't have I don't have a very hard, physical, hard job. And I've also been so thankful that I can take any kind of IRA money and send it directly to my church without any taxes. I'm just that just thrills my soul. Yeah. So I just want to encourage our listeners to do that.

Yeah, I love that. Steve. I think you're right on. I mean, clearly you're right. The only instance of retirement we see in the Bible is on the Levitical priests. And I think that's a different scenario here than what we see in our culture, which is this never ending vacation. And clearly that's not a part of God's plan. We know that work was a part of the of creation before the fall. Adam and Eve were workers. They were not only to cultivate, but they were also to keep the garden. And they had a job to name the animals. And they had to, you know, a lot of work to do. And I think what's great is that God invites us in. He's a worker. He creates out of nothing. We're workers. We create out of his creation by taking that latent natural resource and and improve it for the common good and for human flourishing, and to spread the gospel and to bless our neighbors. And we're to do that through the whole of our lives. I think the idea here is to replace the cultural view of retirement with perhaps a different view, which is a rhythm of, I think, rest and renewal and re-engagement that says when I get to that season where either God redirects me to something else, perhaps away from paid work, if that's what he ends up doing, or if I stay right where I am to continue to be a blessing and to be productive right where he's planted me, or because I can't work physically, that I have taken a portion of what God has entrusted to me. And I've set that aside, and I think the Bible affirms that idea. I mean, Proverbs 2120, among other passages, the wise store up choice food and olive oil, but fools gulp theirs down. So you know, this passage highlights the wisdom of planning ahead and saving resources for future needs. But again, I don't think that never ending vacation was ever a part of God's plan. And ultimately, our dependence needs to rest on God rather than our own financial security. Saving for retirement, I don't think, is inherently unbiblical, as long as we do it with the right motives and balance, with generosity and and trust in God, the key is to view it as a tool for continued stewardship rather than an end in itself. But you also bring up a great point, Steve, and that is, you know, look at ways to do more giving both now and during that retirement season of life. I think part of that is setting a financial finish line and capping your lifestyle so that your lifestyle doesn't continue to increase as you have more resources. But secondly, I think we need to be planned up. And you know what you're talking about with giving from your IRA is a wonderful tool for those folks 70.5 or older who can use this qualified charitable distribution. It's the only way to get money out of an IRA without creating a taxable event, as long as you send it right to charity or ministry or your church. So I think those are all great thoughts and a great reminder for us today. But anything else before we let you go.

Yeah, I love that. Steve. I think you're right on. I mean, clearly you're right. The only instance of retirement we see in the Bible is on the Levitical priests. And I think that's a different scenario here than what we see in our culture, which is this never ending vacation. And clearly that's not a part of God's plan. We know that work was a part of the of creation before the fall. Adam and Eve were workers. They were not only to cultivate, but they were also to keep the garden. And they had a job to name the animals. And they had to, you know, a lot of work to do. And I think what's great is that God invites us in. He's a worker. He creates out of nothing. We're workers. We create out of his creation by taking that latent natural resource and and improve it for the common good and for human flourishing, and to spread the gospel and to bless our neighbors. And we're to do that through the whole of our lives. I think the idea here is to replace the cultural view of retirement with perhaps a different view, which is a rhythm of, I think, rest and renewal and re-engagement that says when I get to that season where either God redirects me to something else, perhaps away from paid work, if that's what he ends up doing, or if I stay right where I am to continue to be a blessing and to be productive right where he's planted me, or because I can't work physically, that I have taken a portion of what God has entrusted to me. And I've set that aside, and I think the Bible affirms that idea. I mean, Proverbs 2120, among other passages, the wise store up choice food and olive oil, but fools gulp theirs down. So you know, this passage highlights the wisdom of planning ahead and saving resources for future needs. But again, I don't think that never ending vacation was ever a part of God's plan. And ultimately, our dependence needs to rest on God rather than our own financial security. Saving for retirement, I don't think, is inherently unbiblical, as long as we do it with the right motives and balance, with generosity and and trust in God, the key is to view it as a tool for continued stewardship rather than an end in itself. But you also bring up a great point, Steve, and that is, you know, look at ways to do more giving both now and during that retirement season of life. I think part of that is setting a financial finish line and capping your lifestyle so that your lifestyle doesn't continue to increase as you have more resources. But secondly, I think we need to be planned up. And you know what you're talking about with giving from your IRA is a wonderful tool for those folks 70.5 or older who can use this qualified charitable distribution. It's the only way to get money out of an IRA without creating a taxable event, as long as you send it right to charity or ministry or your church. So I think those are all great thoughts and a great reminder for us today. But anything else before we let you go.

Just Amen brother. Keep preaching.

Just Amen brother. Keep preaching.

It's, uh.

It's, uh.

You can come preach at at our church. Thank you so much for all you do.

You can come preach at at our church. Thank you so much for all you do.

Absolutely, Steve. Lord bless you. We appreciate you being on the program today. You know, one of the things I think we fail to recognize when it comes to retirement is just the impact on our health negatively. When we cease all operations, it increases the chances of clinical depression by 40%. It can, of course, accelerate aging. And so, you know, I think there's part of God's design for work with rest in proper rhythms is to keep us productive, to keep our minds sharp, to keep us engaged in blessing others. I think there's a reason that we talk about businesses producing goods and services. They're supposed to be good for people and to serve our neighbor. And when we do that, remember, the way we advance God's creation and bless those around us is by engaging in productive work. I think, again, that's part of God's design throughout our whole life until he calls us home. And so something to consider, because we certainly don't want to buy into the message of this culture, that there is a date by which we just need to stop all productive activity. I don't think that was ever a part of God's plan. Now let's head to Virginia. Hi, Debbie. Go ahead.

Absolutely, Steve. Lord bless you. We appreciate you being on the program today. You know, one of the things I think we fail to recognize when it comes to retirement is just the impact on our health negatively. When we cease all operations, it increases the chances of clinical depression by 40%. It can, of course, accelerate aging. And so, you know, I think there's part of God's design for work with rest in proper rhythms is to keep us productive, to keep our minds sharp, to keep us engaged in blessing others. I think there's a reason that we talk about businesses producing goods and services. They're supposed to be good for people and to serve our neighbor. And when we do that, remember, the way we advance God's creation and bless those around us is by engaging in productive work. I think, again, that's part of God's design throughout our whole life until he calls us home. And so something to consider, because we certainly don't want to buy into the message of this culture, that there is a date by which we just need to stop all productive activity. I don't think that was ever a part of God's plan. Now let's head to Virginia. Hi, Debbie. Go ahead.

Yes. Hi, Rob. Well, you have had some people on your show who have been in these timeshares and have asked for, um, you know, if they've ever had success in getting out of them. So I just want to say that we had success a few years back of getting out of ours, which was a real blessing, and I wanted to relay that and give you the name of the group who helped us. And, um, yeah. And also the benefit is that we can now give that extra money to our church every year, um, which is also been a blessing.

Yes. Hi, Rob. Well, you have had some people on your show who have been in these timeshares and have asked for, um, you know, if they've ever had success in getting out of them. So I just want to say that we had success a few years back of getting out of ours, which was a real blessing, and I wanted to relay that and give you the name of the group who helped us. And, um, yeah. And also the benefit is that we can now give that extra money to our church every year, um, which is also been a blessing.

Yeah, well, you're welcome to do that. Let me just say, though, up front here, this would be not an organization we've had any involvement with. But if this has been your personal experience, Debbie, go right ahead.

Yeah, well, you're welcome to do that. Let me just say, though, up front here, this would be not an organization we've had any involvement with. But if this has been your personal experience, Debbie, go right ahead.

Yeah. You know, when you're sort of skeptical about it at first, you know, but it did take like a year you pay up front some of the money. We also had to use a, um, a law firm and they provided that. But everybody was really I mean, it just went through really smoothly, but it was a long process and, um, but we're out of it. Okay. Good to.

Yeah. You know, when you're sort of skeptical about it at first, you know, but it did take like a year you pay up front some of the money. We also had to use a, um, a law firm and they provided that. But everybody was really I mean, it just went through really smoothly, but it was a long process and, um, but we're out of it. Okay. Good to.

Yeah. Well done.

Yeah. Well done.

Yeah. Okay. The name of the group is called. It's back. When we did, it was called the Newton. Newton group. Group exit.

Yeah. Okay. The name of the group is called. It's back. When we did, it was called the Newton. Newton group. Group exit.

All right.

All right.

And it does exist. But they changed it to Newton group transfers.

And it does exist. But they changed it to Newton group transfers.

Okay. Very good. Well thanks for sharing that Debbie. We appreciate it folks. Just be careful. Uh, don't diminish anything Debbie said, but I just my experience has been you have to be really on your guard in these areas. But check hers out. We'll be right back. Hey, great to have you with us today on Faith and Finance Live. I'm Rob West, your host. Our team is away from the studio today, so don't call in. But coming up a little later, we'll have more of your questions right here on the program. Hey, let me take a moment to mention the Faith fi app. We'd love for you to download it. Just head to your app store wherever you download apps and search for Faith fi. That's faith. Five. You can manage your money. You can access the best content in biblical finance podcasts, articles, and videos. You can also participate in our Faith fi community, where you can post questions and get answers from others on their stewardship journey. You'll find it in your app store. Just search for Faith fi or if it's easier, head to our website at Faith 5.com. That's Faith fi.com, and you'll see the app right there on the home page. By the way, on this topic of retirement from a biblical perspective, the God's Word shows us very clearly that elders are associated with wisdom, character, and leadership ability, the assumed fruit of experience and age. I mean, we clearly saw in the Old Testament the elders and would sit at the city gate and teach. So perhaps the steps to think about as you reach this season of life would be first to take a sabbatical rest just to step back and a time of refreshment and leaning into God's Word and asking the Lord the question about perhaps a new calling for this season of life seeking healing and renewal during this time of rest and sabbatical and then re-emerging, ready to offer experience and talents and wisdom and prayer to a coming generation. What a beautiful picture of all that the elders have to offer in this season of life, as they re-engage and perhaps can use all that God has given them in blessing others and walking alongside those who have come after them. I love that picture of perhaps a way to think about this latter season of life. All right, let's head back to the phones. We'll head out to Mississippi. Hi, Dennis. Go ahead.

Okay. Very good. Well thanks for sharing that Debbie. We appreciate it folks. Just be careful. Uh, don't diminish anything Debbie said, but I just my experience has been you have to be really on your guard in these areas. But check hers out. We'll be right back. Hey, great to have you with us today on Faith and Finance Live. I'm Rob West, your host. Our team is away from the studio today, so don't call in. But coming up a little later, we'll have more of your questions right here on the program. Hey, let me take a moment to mention the Faith fi app. We'd love for you to download it. Just head to your app store wherever you download apps and search for Faith fi. That's faith. Five. You can manage your money. You can access the best content in biblical finance podcasts, articles, and videos. You can also participate in our Faith fi community, where you can post questions and get answers from others on their stewardship journey. You'll find it in your app store. Just search for Faith fi or if it's easier, head to our website at Faith 5.com. That's Faith fi.com, and you'll see the app right there on the home page. By the way, on this topic of retirement from a biblical perspective, the God's Word shows us very clearly that elders are associated with wisdom, character, and leadership ability, the assumed fruit of experience and age. I mean, we clearly saw in the Old Testament the elders and would sit at the city gate and teach. So perhaps the steps to think about as you reach this season of life would be first to take a sabbatical rest just to step back and a time of refreshment and leaning into God's Word and asking the Lord the question about perhaps a new calling for this season of life seeking healing and renewal during this time of rest and sabbatical and then re-emerging, ready to offer experience and talents and wisdom and prayer to a coming generation. What a beautiful picture of all that the elders have to offer in this season of life, as they re-engage and perhaps can use all that God has given them in blessing others and walking alongside those who have come after them. I love that picture of perhaps a way to think about this latter season of life. All right, let's head back to the phones. We'll head out to Mississippi. Hi, Dennis. Go ahead.

Hey. I'm retired, and I do get a Social Security, and I get a check through retirement, and I have a little money invested in a in a CD. And it matured this, this past week. And my grace period ends up Friday. And I was going to try to do something with it. Okay. And, uh, I heard about this, uh, called a fixed index annuity. Yeah. And, uh, and it's, uh, through an insurance company, and I don't know the name of the company, but I'm supposed to get that in the mail, and it's, uh, a 1 or 2 year, uh, tech index, and I'm just wondering about the wisdom of that.

Hey. I'm retired, and I do get a Social Security, and I get a check through retirement, and I have a little money invested in a in a CD. And it matured this, this past week. And my grace period ends up Friday. And I was going to try to do something with it. Okay. And, uh, I heard about this, uh, called a fixed index annuity. Yeah. And, uh, and it's, uh, through an insurance company, and I don't know the name of the company, but I'm supposed to get that in the mail, and it's, uh, a 1 or 2 year, uh, tech index, and I'm just wondering about the wisdom of that.

Yeah. Uh, you know, I would be careful there. What is the amount that you have come and do? Dennis.

Yeah. Uh, you know, I would be careful there. What is the amount that you have come and do? Dennis.

Uh, just a little over 20,000.

Uh, just a little over 20,000.

All right. And is this money you need to live on right now? Or is this money you want access to down the road?

All right. And is this money you need to live on right now? Or is this money you want access to down the road?

Uh, no, I do not have to live on it. No. No, sir.

Uh, no, I do not have to live on it. No. No, sir.

Okay.

Okay.

All right. Yeah. Um. And are you wanting to keep it in a guaranteed type of product? Uh, like an insurance product or a bank product?

All right. Yeah. Um. And are you wanting to keep it in a guaranteed type of product? Uh, like an insurance product or a bank product?

It's an insurance. Uh, and I was told that I could not lose my money. Yeah, I could, could gain in over a ten year period. The history has been, uh, from 8% to 14% increase in average, you know. Yeah. And, uh, and it was a biblically, uh, sound, you know, responsible company that this person invests in. And also a financial strength of the institution was strong.

It's an insurance. Uh, and I was told that I could not lose my money. Yeah, I could, could gain in over a ten year period. The history has been, uh, from 8% to 14% increase in average, you know. Yeah. And, uh, and it was a biblically, uh, sound, you know, responsible company that this person invests in. And also a financial strength of the institution was strong.

Okay. Yeah. those are all good things. And I think this is where an annuity product can work for someone who's looking for the peace of mind, to know that they have a guaranteed offering, but they can get better returns than you might find in a in a bank product, especially as interest rates start to head down. Um, I would always want to know what is that index that it's pegged to. I think you mentioned a tech index, and you'd want to look at that just because I wouldn't want to be too highly concentrated on one particular sector of the economy in case it was out of favor. If we got into a recession, the high flying tech sector would likely underperform the market. As the economy rolled over away from the bull market, where the big cap tech stocks tend to lead. We might see other segments of the economy outperform. You know, I think the only downside, if you will, to the fixed indexed annuity is the growth potential is capped, as you know, uh, meaning you you don't benefit from the full gains of the market index. So if the index rose by, let's say, 10%, you might get six. And you give up that that spread. And that's how they make money. The insurance company there are also fees, you know, administrative fees and mortality expenses and risk charges and rider fees. And those can reduce your overall returns. And then there are surrender charges as well. So with the CD, you can get that money back at the end of the period. But with a fixed index annuity, you know, if you wanted to get to that money early, you had a need for it. Those surrender charges can be substantial during at least the first few years, so it limits your access to the money. You just need to be aware of that. And then I think, you know, the last thing is just the complexity of these things. I mean, they're they have various terms and conditions that do get somewhat complicated in terms of, you know, understanding how, for instance, your returns are calculated. Um, there's participation rates and caps and spreads and all kinds of fancy financial terms that, you know, then can be difficult to make it, uh, understood easily. So I think as long as you understand those things, then yes, if you're looking for a guaranteed product with a sound insurance company, an annuity could be the way to go. I would probably just get at least a couple of additional opinions on it, because not all annuities are created equal. And you may find that one that better serves you. Does that make sense?

Okay. Yeah. those are all good things. And I think this is where an annuity product can work for someone who's looking for the peace of mind, to know that they have a guaranteed offering, but they can get better returns than you might find in a in a bank product, especially as interest rates start to head down. Um, I would always want to know what is that index that it's pegged to. I think you mentioned a tech index, and you'd want to look at that just because I wouldn't want to be too highly concentrated on one particular sector of the economy in case it was out of favor. If we got into a recession, the high flying tech sector would likely underperform the market. As the economy rolled over away from the bull market, where the big cap tech stocks tend to lead. We might see other segments of the economy outperform. You know, I think the only downside, if you will, to the fixed indexed annuity is the growth potential is capped, as you know, uh, meaning you you don't benefit from the full gains of the market index. So if the index rose by, let's say, 10%, you might get six. And you give up that that spread. And that's how they make money. The insurance company there are also fees, you know, administrative fees and mortality expenses and risk charges and rider fees. And those can reduce your overall returns. And then there are surrender charges as well. So with the CD, you can get that money back at the end of the period. But with a fixed index annuity, you know, if you wanted to get to that money early, you had a need for it. Those surrender charges can be substantial during at least the first few years, so it limits your access to the money. You just need to be aware of that. And then I think, you know, the last thing is just the complexity of these things. I mean, they're they have various terms and conditions that do get somewhat complicated in terms of, you know, understanding how, for instance, your returns are calculated. Um, there's participation rates and caps and spreads and all kinds of fancy financial terms that, you know, then can be difficult to make it, uh, understood easily. So I think as long as you understand those things, then yes, if you're looking for a guaranteed product with a sound insurance company, an annuity could be the way to go. I would probably just get at least a couple of additional opinions on it, because not all annuities are created equal. And you may find that one that better serves you. Does that make sense?

It does.

It does.

Okay.

Okay.

But, uh, I will say this again. It was the lady I spoke to. She said I could not lose my money. My investment at all. Could not lose it, but I could could gain up to, uh, eight, uh eight to 18 to 14. I think she said percent. Uh, anyway, that's an average over a ten year period.

But, uh, I will say this again. It was the lady I spoke to. She said I could not lose my money. My investment at all. Could not lose it, but I could could gain up to, uh, eight, uh eight to 18 to 14. I think she said percent. Uh, anyway, that's an average over a ten year period.

Sure.

Sure.

Yeah. And the market has done quite well and the tech sector has done quite well during that period. You just need to realize that that's not an indication of future results. We may enter into a period here where depending on which index this is pegged to, it may significantly underperform what she's quoting you. So I think you just need to be aware of that going in. But I appreciate you checking in with us, Dennis. I'm certainly not opposed to this. I would just say, do your homework, make sure you understand what you're getting into, because these things can be complicated and get at least 1 to 2 other people to weigh in with, with products that, you know, may be similar but could be a better option for you. Thank you for being on the program today, sir. Lord bless you. Let's go out to Missouri. Hi, Norma. Go ahead.

Yeah. And the market has done quite well and the tech sector has done quite well during that period. You just need to realize that that's not an indication of future results. We may enter into a period here where depending on which index this is pegged to, it may significantly underperform what she's quoting you. So I think you just need to be aware of that going in. But I appreciate you checking in with us, Dennis. I'm certainly not opposed to this. I would just say, do your homework, make sure you understand what you're getting into, because these things can be complicated and get at least 1 to 2 other people to weigh in with, with products that, you know, may be similar but could be a better option for you. Thank you for being on the program today, sir. Lord bless you. Let's go out to Missouri. Hi, Norma. Go ahead.

Hello there. Um, I have a question. I, um, I have a savings account that's just been sitting for several years that I was wanting to know, Um, if I had to go into a nursing home, is there any way I can protect that besides the Medicaid asset protection plan?

Hello there. Um, I have a question. I, um, I have a savings account that's just been sitting for several years that I was wanting to know, Um, if I had to go into a nursing home, is there any way I can protect that besides the Medicaid asset protection plan?

Mhm.

Mhm.

Yeah. No, I mean, the spin down is, uh, you know, $2,000. So you would have to spend those assets down to that level before Medicaid would kick in. Uh, let's do this. Unfortunately, I've got to hit a break here, but, uh, we'll tackle this question right on the other side. Hopefully you can hold. And as soon as we come back, we'll get right back to you. Much more to come just around the corner. Stick around.

Yeah. No, I mean, the spin down is, uh, you know, $2,000. So you would have to spend those assets down to that level before Medicaid would kick in. Uh, let's do this. Unfortunately, I've got to hit a break here, but, uh, we'll tackle this question right on the other side. Hopefully you can hold. And as soon as we come back, we'll get right back to you. Much more to come just around the corner. Stick around.

This is faith and finance. Live with Rob West. Hey, if you hear a phone number mentioned today, please ignore that number. And don't call us because today's broadcast was previously recorded, but we think the upcoming information will help you and make you a wise steward of what God's given you. So please stay tuned.

This is faith and finance. Live with Rob West. Hey, if you hear a phone number mentioned today, please ignore that number. And don't call us because today's broadcast was previously recorded, but we think the upcoming information will help you and make you a wise steward of what God's given you. So please stay tuned.

Before the break, we were talking to Norma in Missouri, and she'd like some advice on what to do with her savings account in the event she had to go into assisted living. And what I would say to you again, Norma, is you mentioned a medicaid asset protection trust. This is a type of irrevocable trust that protects your assets from creditors and lawsuits. You can't access your funds while receiving long term care, and your trustee could then distribute the money to your beneficiaries. But income from it would count toward that resource limit. So you'd have to take a look at that. Um, and they typically are more expensive than wills to prepare. They're not available in every state. So you'd want to talk to an estate planning attorney about that. But typically the The asset limit is $2,000. The income limit is about just over $2,000. I think it's, uh, $2,800 a month. Um, but anything above that you would have to spend down in order to access Medicaid. Does that make sense?

Before the break, we were talking to Norma in Missouri, and she'd like some advice on what to do with her savings account in the event she had to go into assisted living. And what I would say to you again, Norma, is you mentioned a medicaid asset protection trust. This is a type of irrevocable trust that protects your assets from creditors and lawsuits. You can't access your funds while receiving long term care, and your trustee could then distribute the money to your beneficiaries. But income from it would count toward that resource limit. So you'd have to take a look at that. Um, and they typically are more expensive than wills to prepare. They're not available in every state. So you'd want to talk to an estate planning attorney about that. But typically the The asset limit is $2,000. The income limit is about just over $2,000. I think it's, uh, $2,800 a month. Um, but anything above that you would have to spend down in order to access Medicaid. Does that make sense?

Okay, yes. I, um, I had spoken to my attorney about the Medicaid asset protection plan, and I haven't did that yet, but I also did some research that, um, there was an article that I read that possibly you could put your money into a CD with your name on it and beneficiary, and possibly Medicaid wouldn't be able to obtain the the money. I don't know if that's a truth or not.

Okay, yes. I, um, I had spoken to my attorney about the Medicaid asset protection plan, and I haven't did that yet, but I also did some research that, um, there was an article that I read that possibly you could put your money into a CD with your name on it and beneficiary, and possibly Medicaid wouldn't be able to obtain the the money. I don't know if that's a truth or not.

Um, yeah.

Um, yeah.

Well, I don't know.

Well, I don't know.

Anything about that.

Anything about that.

Yeah. So I would check with your attorney on that. I mean, it does get depending on your state where you're located. You know, there could be different laws on that with regard to what's available. Um, but, you know, CDs typically are available for asset recovery. Um, when, you know, Medicaid at the end of your life goes to be repaid. Um, so that would be a part of your estate. Um, but at the end of the day, you know, I think it does involve careful planning and often involves trade offs. And I think the ultimate goal should be to ensure that you have the care you need while preserving as much as possible within, of course, the legal and ethical bounds. But I would say, generally speaking, um, that CD would probably not be accessed during your life, but would be a part of your estate and could be accessed through Medicaid recovery.

Yeah. So I would check with your attorney on that. I mean, it does get depending on your state where you're located. You know, there could be different laws on that with regard to what's available. Um, but, you know, CDs typically are available for asset recovery. Um, when, you know, Medicaid at the end of your life goes to be repaid. Um, so that would be a part of your estate. Um, but at the end of the day, you know, I think it does involve careful planning and often involves trade offs. And I think the ultimate goal should be to ensure that you have the care you need while preserving as much as possible within, of course, the legal and ethical bounds. But I would say, generally speaking, um, that CD would probably not be accessed during your life, but would be a part of your estate and could be accessed through Medicaid recovery.

Oh, okay. Okay. Yeah. Well, that answers my question.

Oh, okay. Okay. Yeah. Well, that answers my question.

Okay.

Okay.

Because I am going to I am going to take the money out of savings and put it into CDs because I'm not earning anything in the savings account whatsoever.

Because I am going to I am going to take the money out of savings and put it into CDs because I'm not earning anything in the savings account whatsoever.

Yeah.

Yeah.

Well, you I mean, if you go to Bankrate.com right now, you'll find that there are still some pretty attractive high yield savings rates, uh, with FDIC insurance. And these are five star rated bank options. It'd be an online bank. Um, but there are some wonderful options out there. You could go to Bankrate.com, but CDs still are fairly attractive right now. They will be, you know, the further out you get, you're going to have to settle for rates, you know, not in the fives, but down closer to four as you get out 2 or 3 years plus. But still a great option I think today. But just kind of to double back on that, that that CD is, is still considered your asset. So they're not exempt, uh, from Medicaid eligibility like a residence or a vehicle might be. So you are going to have to count that into the overall mix of assets.

Well, you I mean, if you go to Bankrate.com right now, you'll find that there are still some pretty attractive high yield savings rates, uh, with FDIC insurance. And these are five star rated bank options. It'd be an online bank. Um, but there are some wonderful options out there. You could go to Bankrate.com, but CDs still are fairly attractive right now. They will be, you know, the further out you get, you're going to have to settle for rates, you know, not in the fives, but down closer to four as you get out 2 or 3 years plus. But still a great option I think today. But just kind of to double back on that, that that CD is, is still considered your asset. So they're not exempt, uh, from Medicaid eligibility like a residence or a vehicle might be. So you are going to have to count that into the overall mix of assets.

Yes. Okay. Okay. Well, thank you very much.

Yes. Okay. Okay. Well, thank you very much.

You're welcome. Norma. Absolutely. Thank you for your call today. May the Lord bless you. Uh, let's head to Mississippi. Hi, Dan. Go ahead.

You're welcome. Norma. Absolutely. Thank you for your call today. May the Lord bless you. Uh, let's head to Mississippi. Hi, Dan. Go ahead.

Hi. Uh, I retired at age 62. I just turned 65. My retirement age is 66 and ten months, and I'm drawing Social security. I pastored two rural churches. Uh, and they are paying into a retirement plan, uh, about a total of $300 a month. And I was considering maybe seeing if I could, if it's if it's okay to in, uh, give money into a Roth IRA or some other type type retirement plan also. Yeah. No security?

Hi. Uh, I retired at age 62. I just turned 65. My retirement age is 66 and ten months, and I'm drawing Social security. I pastored two rural churches. Uh, and they are paying into a retirement plan, uh, about a total of $300 a month. And I was considering maybe seeing if I could, if it's if it's okay to in, uh, give money into a Roth IRA or some other type type retirement plan also. Yeah. No security?

No. No doubt. Yeah. As long as you have earned income, Dan. Up to the amount you contribute and not beyond the annual contribution limit, you absolutely could continue to contribute to an IRA. There is no age limit. So long as you have earned income up to the amount you're contributing.

No. No doubt. Yeah. As long as you have earned income, Dan. Up to the amount you contribute and not beyond the annual contribution limit, you absolutely could continue to contribute to an IRA. There is no age limit. So long as you have earned income up to the amount you're contributing.

Okay. That's great. Yeah. All right. That's what I needed to know.

Okay. That's great. Yeah. All right. That's what I needed to know.

Excellent. Well, thank you for the service. Your service to the Lord. I'm sure you're a real blessing to those rural churches. And we appreciate you being on the program today. May the Lord bless you. You know, as we think about, um, retirement planning, uh, you know, we've talked about the financial side of it and the importance of setting a financial finish line even during your working years. So, you know, what you're ultimately accumulating toward. What is that goal for both assets and what's that lifestyle cap, that limit that you want to spend on your income? Uh, recognizing that just undoubtedly what typically happens is the level of spending always rises to the level of income unless you protest to the contrary. So as you work and get raises and improve your skills and get paid more throughout your life, you know the natural default is just to increase our lifestyle as we get more money. Well, you know what? If we were to say, let's cap our lifestyle. We don't believe we need to live on more than X dollars a month. And so anything the Lord blesses us with beyond that, we're going to use to bless others and to advance our giving, or perhaps to increase our saving, or maybe to completely eradicate our debt. What an opportunity. But I think we also need to consider just the the wealth transfer side of this, and that is to be well planned. Do you have a will? You know, it's still far too many Americans that don't even have a basic will. It's essential if you have, you know, small children at home because that's where you name your guardian. But even beyond that, just so your wishes can be honored, make sure you have that will have that durable power of attorney so somebody can transact business legally and financially for you if you're incapacitated. Get that health care surrogate in place so somebody can make medical decisions on your behalf if you're unable to do so. Get that living will in place so you can make end of life decisions. All of these things I think are really essential and easily can be put off. I would just charge you not to do that. All right. We've got a few minutes left. We'll try to get to as many calls as we can. Let's head to Arkansas. Hi, Nora. Go ahead.

Excellent. Well, thank you for the service. Your service to the Lord. I'm sure you're a real blessing to those rural churches. And we appreciate you being on the program today. May the Lord bless you. You know, as we think about, um, retirement planning, uh, you know, we've talked about the financial side of it and the importance of setting a financial finish line even during your working years. So, you know, what you're ultimately accumulating toward. What is that goal for both assets and what's that lifestyle cap, that limit that you want to spend on your income? Uh, recognizing that just undoubtedly what typically happens is the level of spending always rises to the level of income unless you protest to the contrary. So as you work and get raises and improve your skills and get paid more throughout your life, you know the natural default is just to increase our lifestyle as we get more money. Well, you know what? If we were to say, let's cap our lifestyle. We don't believe we need to live on more than X dollars a month. And so anything the Lord blesses us with beyond that, we're going to use to bless others and to advance our giving, or perhaps to increase our saving, or maybe to completely eradicate our debt. What an opportunity. But I think we also need to consider just the the wealth transfer side of this, and that is to be well planned. Do you have a will? You know, it's still far too many Americans that don't even have a basic will. It's essential if you have, you know, small children at home because that's where you name your guardian. But even beyond that, just so your wishes can be honored, make sure you have that will have that durable power of attorney so somebody can transact business legally and financially for you if you're incapacitated. Get that health care surrogate in place so somebody can make medical decisions on your behalf if you're unable to do so. Get that living will in place so you can make end of life decisions. All of these things I think are really essential and easily can be put off. I would just charge you not to do that. All right. We've got a few minutes left. We'll try to get to as many calls as we can. Let's head to Arkansas. Hi, Nora. Go ahead.

Yes, this is Laura.

Yes, this is Laura.

Oh, Laura, thank you for calling. Go ahead.

Oh, Laura, thank you for calling. Go ahead.

Well, we're in our 80s, and we have some land adjoining to a church, and we want to donate that land to the church. And that's our main investment. Okay. Uh, and our children are worried that when we run out of finances that there they will come after their money. And of course they're worried about that. So I and so I just wondered if that is true.

Well, we're in our 80s, and we have some land adjoining to a church, and we want to donate that land to the church. And that's our main investment. Okay. Uh, and our children are worried that when we run out of finances that there they will come after their money. And of course they're worried about that. So I and so I just wondered if that is true.

Yes. So listen, I would never want to stand in the way between what you, the Lord, may be leading you and your husband to do. So ultimately, that's between you and him. Um, what I would say is, uh, you know, I love the idea that you want to be generous toward your church, and but I do think it's also important for you to think about what God has provided you and how you are going to continue to fund your needs in the future. Now, God is your provider. No one else. Not the government, not, you know, the the the resources that you have. Ultimately, it's God Himself, but he also has asked us in being a faithful steward, to manage what he's entrusted to us wisely. And I think part of that includes having a plan and saving for the future and understanding how you're going to cover your expenses now and forever, however long he has you here. Um, if you're talking about becoming a ward of the state, you know that typically refers to a situation where someone is incapacitated and has no one to make decisions on their behalf. That's different than qualifying for Medicaid. Medicaid can't generally come after, quote, end quote, adult children for a parent's care costs, uh, except in very limited circumstances and states with specific laws around responsibility. So I think perhaps your next step just to understand, uh, you know, what's possible, both now and in the future, if you all have the ability to cover your own care or you don't, is to visit with an estate planning attorney or an elder care attorney who can just kind of walk you through the planning decisions you need to make and understand what's possible. But I would say, you know, you balancing your desire to be generous with the ability to continue to fund your expenses is is a good thing. And I think part of our stewardship responsibility, it begins with prayer. But then I think there's a, a concerted, uh, you know, planning element that goes along with that. Does that all make sense, though, in terms of what I'm sharing here?

Yes. So listen, I would never want to stand in the way between what you, the Lord, may be leading you and your husband to do. So ultimately, that's between you and him. Um, what I would say is, uh, you know, I love the idea that you want to be generous toward your church, and but I do think it's also important for you to think about what God has provided you and how you are going to continue to fund your needs in the future. Now, God is your provider. No one else. Not the government, not, you know, the the the resources that you have. Ultimately, it's God Himself, but he also has asked us in being a faithful steward, to manage what he's entrusted to us wisely. And I think part of that includes having a plan and saving for the future and understanding how you're going to cover your expenses now and forever, however long he has you here. Um, if you're talking about becoming a ward of the state, you know that typically refers to a situation where someone is incapacitated and has no one to make decisions on their behalf. That's different than qualifying for Medicaid. Medicaid can't generally come after, quote, end quote, adult children for a parent's care costs, uh, except in very limited circumstances and states with specific laws around responsibility. So I think perhaps your next step just to understand, uh, you know, what's possible, both now and in the future, if you all have the ability to cover your own care or you don't, is to visit with an estate planning attorney or an elder care attorney who can just kind of walk you through the planning decisions you need to make and understand what's possible. But I would say, you know, you balancing your desire to be generous with the ability to continue to fund your expenses is is a good thing. And I think part of our stewardship responsibility, it begins with prayer. But then I think there's a, a concerted, uh, you know, planning element that goes along with that. Does that all make sense, though, in terms of what I'm sharing here?

Well, it is one thing I didn't tell you is that, uh, we there's a house that we live in now, and we will it's be written up that we can live in this house, and they will do some of the expenses also. And we live on Social Security, and we are always managed our money, uh, with wisdom because we know everything we have is God's.

Well, it is one thing I didn't tell you is that, uh, we there's a house that we live in now, and we will it's be written up that we can live in this house, and they will do some of the expenses also. And we live on Social Security, and we are always managed our money, uh, with wisdom because we know everything we have is God's.

Wow, I love that. Well, you you're a blessing to talk to Nora. It sounds like you are that picture of the wise and faithful steward that will someday hear well done, good and faithful servant. So, uh, kudos to you for how you've managed God's money. I would suggest that your next step is to talk to an elder care attorney, just so you understand kind of how things will go down now and in the future, depending on what care you need. But apart from that, I love your generous heart and I appreciate you being on the program today. Lord bless you. Well folks, it's been a joy to be along with you today. Thanks for inviting us into your story. What a joy it is to encourage you with God's Word as you seek to be that wise and faithful steward. Our goal that you'd see God as your ultimate treasure. Now let me say thanks to my team today. I couldn't do it without him. Amy, Dan, Gabby, T, and Jim Faith and finance live as a partnership between Moody Radio and Faith five. Have a wonderful day and come back and join us next time for another edition of Faith and Finance live.

Wow, I love that. Well, you you're a blessing to talk to Nora. It sounds like you are that picture of the wise and faithful steward that will someday hear well done, good and faithful servant. So, uh, kudos to you for how you've managed God's money. I would suggest that your next step is to talk to an elder care attorney, just so you understand kind of how things will go down now and in the future, depending on what care you need. But apart from that, I love your generous heart and I appreciate you being on the program today. Lord bless you. Well folks, it's been a joy to be along with you today. Thanks for inviting us into your story. What a joy it is to encourage you with God's Word as you seek to be that wise and faithful steward. Our goal that you'd see God as your ultimate treasure. Now let me say thanks to my team today. I couldn't do it without him. Amy, Dan, Gabby, T, and Jim Faith and finance live as a partnership between Moody Radio and Faith five. Have a wonderful day and come back and join us next time for another edition of Faith and Finance live.