Money Making Ideas

Hi this is Doug Hastings, VP here at Moody radio and we have a unique sponsor for this podcast. It's united Faith mortgage the faith focused mortgage team with a very specific advantage that can save families money.

Here are two things you need to know number one united Faith mortgage was started by a dad and his son and his wife and they've grown into a team helping families all across the US and number two, they have a unique advantage.

Their company is an arm of a bigger company, which is a direct lender meaning there's no middleman. Their company uses its own money and makes its own lending decisions within its own walls. Again, no middleman, and often this allows them to get you a better rate on a new home purchase, refinance, or cash out refinance which could save you money over a lifetime.

Check out the faith and family mortgage team@unitedfaithmortgage.com united. Faith is a DBA of United mortgage Corp. 25 Millville Park Rd., Millville, NY license mortgage banker for all licensing information, go to an MLS consumer access.org corporate and MLS number 1330. Equal housing lender not licensed in Alaska, Hawaii, Georgia, Massachusetts, North Dakota, South Dakota and Utah and is coping related shutdowns drag many Americans continue to struggle with lost income, but the good news is there are still plenty of ways to make money on the side that's right these days, every dollar counts. But you have to know where to find a sub today, kingdom advisors, Pres. Rob West share some ways you can earn extra cash in your down time that will have some fascinating news from Wall Street and then later your cause and anything financial at 800-525-7000. All right now open. Lines 800-525-7000. I'm Steve more money making ideas. Next on moneywise line surround finding extra dollars. I assume you're not talking about looking under the couch cushion know although you could probably find James for the parking meter there today. Steve, we got some ways you can earn extra money. Some we talked about before, and bear repeating. And some that are new.

Well, at least to us. Okay, let's dive in.

Where is the first place to find those extra dollars.

What would you believe in your closet. If you have gently used clothing items that you no longer want or need, you can sell them online websites like thread up in posh Mark offer her service to help you find buyers and provide all the information you need to get started but will have links to many of the sites. By the way in today show notes how do you know me so well, that's a good way to turn prom dresses into profit, I suppose, and also that sports jacket you only wear once a year, much to your wife's chagrin. Okay what's next.

Well how about trading in old cell phones and other electronics you may have tossed in the junk drawer but maybe an old iPad or gaming systems. That's no longer used. Amazon offers a trade-in option and pays you with gift cards as payments and speaking of gift card Steve did you know you can sell unused ones. Check out sites like yeah card pool card cash in Griff desk is my gift card grant that they will pay you the full value. Usually they'll take about 10% for their fee but it's an easy way to bring in a few extra dollars. Wait a minute, gift card granny taking 10% granny what what's what's happened to you. All right hello I think these are pretty good I were making some money and we haven't even left the house yet, but that's right, you will need to for this next window you can start driving for over lift or another ridesharing company. If you have a good driving record in a car that meets their eligibility requirements.

You can probably make well most estimate about $10-$15 an hour. You can also set your own hours so that could be handy for stay-at-home parents. If the kids are back in school. What if you have an old junker, though I guess that's that's outdone well in that case, you can still make a little side money Steve by delivering meals and other items like outfits for Uber eats posh Maidstone door – again, you're probably clear around $10 an hour plus tips that we should point out that none of those are huge moneymaking ideas, but they can provide a little extra cash for paying the bills interesting even if your car isn't the latest and the newest and the shiniest Uber eats post mates and door – okay well it's better than sitting around the house just worrying about the bills so anything else yet for this next one. You may not need a car at all.

If you love dogs. How about walking them for cash. You can also be a good dog sitter in your own home or in a clients house.

It's another side gate where you can set your own hours and websites like wag walking and rover help you get started. Other may be opportunities to sit or walk dogs right in your neighborhood.

In fact, I saw someone in from my wag walking last week in my neighborhood really wag walking okay, I guess you have to make sure you bring some plastic bags on supply items exactly yeah here's another one and oldie but goodie babysitting. You can probably get started by letting a few folks know your available word-of-mouth still works, but there are also sites for that. Of course, like care.com that one can also connect you with folks needing eldercare, as well as babysitting. You can also check out sitter city for babysitting jobs again.

All these websites in her show notes. Can one of you not especially good with kids. Any thoughts there. Yeah, here's one instead held out housesitting you would do things like watering the plants and making sure the trash gets out house sitter.com can help you connect with folks needing those services and according to the company. You can make $25-$45 a day and for jobs. You can check out task rabbit it'll put you in touch with folks who need moving delivery or handyman services like putting furniture together, i.e. some of the big box stores are. You don't mind waiting in line at the post office. Some folks are willing to pay you to do that again. The site is called task rabbit.com rate and rabbits.

We had to hustle out of here, but will be right back back with some more suggestions and ideas don't go great to have you listening today it's moneywise live hostess, Rob West, I'm Steve Moran paused and anything financial at 800-525-7000 Jennifer just a couple of minutes about some bonding creative ways to earn some extra bucks on the side. But remember, after all, it's called work for a reason. So were hopeful that it's kind of fun.

But you know fund is in the eye of the beholder.

So I anything else Rob before we put a bowl in it for today.

Yeah Steve freelance work like writing is growing in popularity, especially as technology helps folks to connect so you can be a virtual assistant computer programming design. You know, there are many legitimate sites to help you find clients. A few of those include up work and then five or that's five and then to ours and freelancer.com and if you're fluent in another language. That's always a marketable skill. Again, go and one hour translation can put you in touch with potential clients.

By the way, if you're not sure what the going rate for your services up work as hopeful information to get you into the ballpark and one final note Steve for being on the lookout for scammers. All of the websites we've given are legit, but you if you do any googling on your own. It's a good idea to check out any prospective company with the Better Business Bureau or just put in the company's name and then the word review and see what comes up before you proceed yeah and if you see a website that wants you to pay them money up front and probably run 90% of the time you want to pay someone else. You want them to pay you so you'll be very careful. Some of these sites can look very legit and professional, but that's because they're good at what they do, you do want to be part of that. Speaking of Robert Lesko, our phones, because Paul's calling from Tampa and I think he has a comment or question right along these lines, I thought you doing great. Thanks we have for while you are talking about will break yeah I got a little side money. I know lots of people including myself, to make elite air and aunt. I'm sure other more note thousand dollars a week that weeks is $2000 will delivering food and groceries and also being a part-time referee. There is a national shortage of referee men referee to make anywhere from $20-$60 an hour depending on the sport and they will train you know there's a little bit of money upfront to get certified by the state or the county, but otherwise it's you know my son doesn't is a college job and he works about eight hours a week and makes 3 to 400 bucks yeah I like that a lot. Paul thinks that suggested. In fact, if your local church as a sports ministry. That's a great way especially for youngsters to get a ball, make a little extra money and have some fun at the same time both of my boys who are basketball players 116 and now 114. They both referee basketball and soccer at the church and that makes money they love doing it Saturday morning and it's great experience. I think for a lot of kids. Paul quickly tell me about Wilbur each you deliver food. I know what that is and how it works. But how does it work for you as far as interaction with people today pay you all the time. Do they pay you well do they chip you if it's a $20 lunch. How much tip should I expect to give you help us look inside this for just a moment my window breaker door – many of them basically your phone, you have the app on the phone it'll Daniel tell you in order it'll tell you how much it's going to pay including the And about how far it's going and that your choice to take it or not.

So a lot of what I'm down there three dollars to go 10 miles in.

That's not worth my time again you got an order to pay $25 and doing the Insta card and the ship grocery delivery service is good money as well. It takes little more time but again between the two. I know a lot of people that make that money to globin learning, but with great shooting is walking. Grab your order walk out and deliver all very very interesting. I had no idea you could make $1000-$2000 a week and we wish you the very best as you continue with that check the air in your tires and all that but Paul got bless you. We appreciate that call before we take another call there's something else you wanted to mention. And I think we mentioned it at the top of the program, something unique on Wall Street. Well, there's a bit of a game changer taking place on Wall Street and it was actually talked about on the front page of the Wall Street Journal today. We thought we'd help you understand. Perhaps what's going on that's come to be known as the game stop frenzy very large group of young day traders have more or less squared off against the Washington establishment. Other using a page called Wall Street bets on Reddit of the social media discussion page. Basically a discussion board to identify troubled companies that are targets of hedge fund operators and what are known as short-sellers when you expect to start a stock to be declining in value while Wall Street bets has 2 million followers in large numbers of them are buying up stock options for struggling companies driving up their stock prices will that hurts the establishment types of essentially bet that those stocks would fall simply the young upstarts are making a lot of money in the Wall Street elites are losing big time and if you read some of the posts on Wall Street that you will see that these young people essentially day traders are relishing what they view as payback. You see, they blame Wall Street professionals for market collapses like we saw in 2008, so I mentioned that game stop a company that struggling because people have to go to a brick-and-mortar store to buy games and consoles and they just don't do that these days. Well, that stock happens to be up something like 1700% since January 1.

Other others that the day traders are buying up and putting the squeeze on short-sellers and old name that you will remember blackberry bed bath and beyond and even a movie theater company AMC well but were not suggesting that listeners by those stocks. Are we absolutely not. It's just a fascinating turn of events, and it could change the way Wall Street does business. They can no longer ignore group that has the power to raise stock prices like that and by the way, this apparently is completely legal, but to your question know this certainly isn't investing advice elites remind us quickly of Proverbs 21. Five the plans of the diligent lead to profit as surely as haste leads to poverty. At the end of the day Steve this is a bubble just like any other stock market bubble that we've seen in the past we saw something similar in the late 90s with some of the dot-coms you could lose a lot of money if you want to buy the stocks now. You really need to have a long-range investment plan but it is fascinating to watch and it certainly going to be an evolving story. Bottom line is when there's more buyers and sellers sums going up, and that's been their strategy okay very very interesting. You keep your money and something safe like oh I do not claim no no no absolute no idea listening to moneywise live with trying to be wise here and not facetious and will be careful.

You be careful as well. This is moneywise live in 100 525-7000 back and speak with Joe Don and Sally and maybe you stick around. Remembering that God owns it all were just temporary managers. This is moneywise live we'd love to chat with you today.

If you have anything financially like to run past Rob West is a good time to call 800-525-7000. As we have three open lines, Indianapolis, Indiana WGN RN Joe, welcome to the program. How can we help calling to ask. I put a credit freedom my credit. I wondered how long I could lay that on and does not credit change.

While it yeah good question. Your credit does absolutely change. While it's frozen so that really the key here is that freezing your credit only freezes access to your account.

So when it's frozen that no new credit accounts can be opened in your name without the pin number. It doesn't keep creditors though from reporting about you and how you pay your bills. For example, so your credit score will still be able to go up or down. Even if your credit is frozen. Also remember that that you need to freeze it at all three of the major credit reporting agencies, Experian and Equifax and Trans Union. It also has an expiration, usually six months or a year redrafting, in a sense, refreeze it, so you want to check on that. But yet your credit will continue to change. While that's in place.

All right, how are you all right you have blessed I go had Joe, I'm sorry didn't mean to cut you off up.

I think the last jump Ashoka blessed thank you very much Don is in Illinois and what your question for Rob Weston… Family was in dire need. I still have her 15 years of been bothering me. How do I calculate the way got a all the family money how how would I Like it out what actually should get yeah and so you borrowed the money. Is that right now.

No like you a lot.

Try out and now we had saved up about dollars. We get all the way and instead of really got out but I wouldn't do it. I just wouldn't do it and out and think what would fall apart afterward and Internet years. I'm sure and it just… A white doll on one of them think yeah yeah well the prevailing rate of 5%.

You know for prime rate which will play little lower than that now and you run that out for 10 years.

You know simple interest calculation annually would be a $500, or 10 years later, but you know I just I think you need to just think and pray through that as to how you want to approach it.

Once you decide, what you want to do that you could go online and look for any number of simple interest calculators just to determine what the interest rate would be for a simple interest formula on a certain amount over a period of time and that you can get that number.

So again, I do think and pray through that. Decide how you want to proceed and then run the number based on the interest rate in the duration and you'll have your answer.

So Don your thinking that maybe you'd want to reach out to this family today. Or maybe you want to give this money to some other needy family organization. Something along those lines. Okay will brother God bless your heart. I can understand where you're coming from. Don't know what it is that God saying to you exactly I just because other things in your life are coming together doesn't mean in God that you think God is punishing you or anything like that but I don't want to speak for God so you and your wife pray about this and will we wish you the very best. Thank you very much and you're like that. I like the fact that he's listening to God and and has that kind of a heart Rob well I did to Steve you and often times that's the way it works right, we just feel compelled in our spirit to do something and you know I think often times when the Holy Spirit's leading us in a certain direction we need to act on it. Let's continue on Rogers Arkansas hello Sally what's on your mind. I retired we do not have any Beltway our cars our house.

Everything is paid for. Praise God that we just had a CD coming due are actually mature and we need to have the midnight went to Gillick that everybody came by silver my silver. I know backplane is not good. I don't really want to buy a home in jail with the rental situation. What should we do with her money thing tied and get something to the church, but we get need. I guess well I think Sally I think the key here is not to. Let's perhaps you know an overabundance of marketers who are really pushing the precious metals during this period of uncertainty drowned out the tried-and-true approach, which is really frankly with the masses are doing, you know, most people that are putting money to work.

That's long-term in nature are doing that. Not in a speculative sense, despite the fact that's getting a lot of headlines with some recent names that have run up and not in precious metals, despite the fact that you're going to see advertisements on TV and on the web all the time. For those during a period of uncertainty every time, but where the most people are invested and where wealth is built.

Frankly, over the last hundred years, and I don't think that's gonna change moving forward is really in a properly diversified stock and bond portfolio work you have the right time horizon with the right diversification with the right investment mix that's appropriate for you and you let it go in terms of the long haul because despite you know the change in administration. Despite the prospect of higher taxes, despite where even the US national debt is keep in mind the interest rate that rates up and coming down.

So even though the debt is higher in this country it's it's not a problem at this point, it could be down the road and working have to deal with that as a nation but I don't see anything that would indicate that there's a collapse coming or anything like that.

Now, as always, though, we need to be found faithful with what God has entrusted to us and you know the precious metals are to be more volatile and fair.

Frankly, lack the long-term return that to you might otherwise expect from a properly invested stock and bond portfolio. So if it were me, and this money has at least a 10 year time horizon. I would hire an investment professional to deploy it again appropriately according to the risk you're willing to take, and what this money is earmarked for and I think you over the long haul. You'll be rewarded for that and Sally. Even if we were to get into bear market or even a recession that lasted a couple years we've been through that before it happens in every 10 here. And the market always recovers the economy does as well. What kingdom advisor be helpful in the situation room absolutely could be go to our website moneywise live.org and click find CK Sally we wish you the best. Thank you very much John in Barrington, Illinois your next don't hang up on us after John. Say hi to Jill and then maybe Tony you're listening to moneywise live moneywise live last time Steve Moore was taking your calls, questions, comments and queries today at 800-525-7000.

If you're struggling or just wondering about something financial. Maybe your Sunday school class is having a study on biblical finance and you're stuck on something. Maybe we can help you with that.

Anyway, give us a call 800-525-7000 Barrington, Illinois hello John, how can we help user topic. I care advantage of a couple of bank deal where you open an account they offer your opponent after a plenary.

But haft by their potential repercussions know if I don't keep the account open for certain amount of time with my credit score, you know it's good question John. And there's not with the traditional bureaus. There is a particular credit score in an agency that is for the bank accounts but they're looking for things like overdrafts or you where you have overdrawn the account and then not made good on that or a check was balanced something like that and that's good to be information that shared among the banks when you go to seek an additional account but the kinds of things you're talking about where you perhaps you open it for a period of time and then you move on to another bank. That's not hurting you and that bank activity.

Frankly, is not being reported to the credit, the main three credit bureaus anyway and those would be Trans Union, Experian and Equifax so I think you're a perfectly fine as long as you can keep up with it.

Sometimes it becomes a little bit a legwork to figure out where is my account these days and how I log into it and how long do I have to keep it open so you know, apart from that upkeep. It shouldn't be an issue to you. John let you call.

Thank you very much and wish you the best Indianapolis hello Joe what's in your mind today I think is Kathleen actually was a Kathleen M. So I apologize Kathleen.

How can we help you today okay I have a question about retirement that I'd like to go ahead and retire when I'm five, which is about two years and my full retirement age event held 66 1/2.

I would rather go and retire. You know now that, but I can't doubt 60 5D about 18 months from now and I just wonder that the light thing or should I go ahead and weigh for the security because my mom is that living in my head is already retired and it time crunch. You know I am crunch for time quite a bit. Yeah, this is what we if you did wait until full retirement age. What would be the implications of that to you financially and in terms of is that creating a hardship in any way. Well, I'm not sure I think it's about a $600 amount different between you now in the year and 1/2 and it went wouldn't probably hurt that much that I did think about it over time. Yes, I think the key is you recognize you if you have the ability to wait that's can serve you well. Just because you know every year you know you're going to see about an 8% increase if you can get to that full retirement age, and then you enjoy that amount plus cost-of-living adjustments and if you keep working at any point in the future and you could replay some of your earlier working years were you didn't make as much that would actually increase it as well. But that base number of benefits is locked in. Based on when you elect to start receiving those benefits. So if you could get to that full retirement age will maximize that amount. But if there's a reason you need to go ahead and and start collecting that because you need the money or whatever it might be, then that's certainly something to factor in, and I wouldn't feel bad about that. I think it just comes down to how does that fit into your life situation right now and is there, the ability to wait and collect more in the future or do you need to to go ahead and proceed. How's that work for you, Kathleen, had I did have one more thing if I waited retire Dan at 65 and not collect security that I know what you're talking about it yesterday and it really all comes down to when you start collecting as to when you're gonna lock that in.

Now if you stop working, that's only going to have an impact in the sense that you know every year you work out your so security is based on your 35 years of highest earnings and you know every year that you replace a lower earning year, perhaps earlier in your working career with the higher amount that's you know in your benefit or to your advantage. So you stop working early. That would be the only affect but you know the other kind key idea is when you start collecting and whether or not it's before full retirement age or whether you wait into you get to your actual full retirement age.

We appreciate that call.

Thank you very much. Great question. Let's move along quickly to see Alta Michigan Roxanne you have a question know you have a comment or an item you'd like to share with us regarding our opening topic every day in every way home from work. I find it here with you in your happen with me with a situation where we got her son in to have an orthodontist look at him to see if he needed braces and he did.

He actually knew him for his sinus problem.

While we have insurance that would cover that and it was in a cost of $6000 so kind weird thinking and I have always been a drifter rating of large family going to the goodwill and all that so I thought I after themes in YouTube video I thought a new start trying to collect things from the goodwill that I got you and reselling them on eBay and I thought if I could do that I could pay the monthly payment for the braces for the next 24 months ended up not only did I have plenty because of the drifting I've done all my years to provide for the braces. I been able to go way beyond myself but I got three of my friends who are also doing that we are all mom called minded you know grad sales in the summer we all got her favorite story, goodwill or other one that we go to and we've gotten to know how to use the eBay website at really helps you to see if things have value or not and what you reselling for interesting slight. A lot of people have kinda made a business out of this is not without its work and there's obviously a level legwork.

A lot of research you are taking the risk that something is not going to sell. But if you were efficient at finding things that are really good value and then you can turn around and sell them for profit, that could be a great way to bring in some extra money on the side and in your case pay for your sons braces so you'll be rewarded by looking at that that smile for the rest of his life that so we appreciate you sharing your idea with the strikes in yeah thanks Roxanne. We do appreciate that and you II just love the inventiveness of something like that people look around and instead of collapsing to the ground and saying woe is me.

It's like will Lord what can I do what you give me an idea. Give me a suggestion. Maybe something that not only works but something I can share with someone else got well that's exactly right. And by the way, there's nothing illegal about that. All you have to classify themselves as a hobby and then report the income on you to point there. Thanks Rob listening to moneywise live will be back with more calls right around Hebrews 11 and without faith it is impossible to please him, for he who comes to God must believe that he is that he is a rewarder of those who seek him and hope your relationship with God today is a strong one, if not, go to your knees. Ask God to give you his grace, his mercy and his wisdom as you move through your life. Let's continue on Orlando Florida Karine what's on your mind. Thank you. It's all dependent upon how much income you have, so did she have any other income besides her Social Security benefits and everything you know that there yeah caring yeah I'd be hesitant to say one where the other without knowing the details of here's what I recommend you do Karine. I think it would be worth just sitting down with the tax preparer who could look over her situation and see if in fact it is necessary for her to file and even if she needs to file whether there's any tax due.

Want to make sure she taking advantage of every opportunity way to only pay what's legally required right and not a penny more. So she probably still has to file but I would not expect her to pay based on have to pay anything based on what I'm hearing you say, but again I'd like to have somebody look at that just to make sure there's not something else. There that that were missing.

So if you don't have a tax preparer that you use that you could recommend you could go to our website moneywise live.org click find a CK and choose one in the tax and accounting area be worth you know an hour or so of a professional's time just look it over and advise her how she needs to handle this moving forward… I'm surprised to hear that there was any tax due, and so I think it's worth a once over. Karine, thank you very much God bless as you help your mom there as Spokane, Washington, Aaron, welcome to moneywise live like it's great to be here topic time three is about 33 just moved from Maine to Arizona with Mr. and he has a family that adopted a little girl, three children and a wife stayed home in the upholstery business for years and years. He graduated biotech just at a high school is not having a heart having a very difficult time trying to find something that will sustain and he was wanting to go into the Armed Forces into the Air Force and apparently because at the last house that they sold and some financial issues qualify for Intel.

He was really excited about that before you make this move. This all happened in the last month. So now he's kind of really feeling not sure what happened is eat.

Given out resumes looked online.

He's not. He's very serious, hard-working, good Christian boy and is planning to have any idea yeah well I certainly appreciate what you're trying to do in helping him explore opportunities for small and make this a matter of prayer and just asked the Lord to make it really clear what his next move should be. I think that's really important. And this is gonna be more challenging in a new place but really start to lean into his network or form that network involved in a local church and start to meet folks update his LinkedIn profile. You know things will start coming his way.

You know, just based on his skills. Another thing that I'd like to do for you. Aaron is there's a tool called career direct and some of our friends there that are career direct coaches have given us a number of licenses for career direct to giveaway and I'd like to put one in your hands to pass along to him.

This is basically going to help him uncover his God-given abilities and skills and really helped appoint him in the direction of where his giftedness aligns with real work opportunity and perhaps this could shed some light on an industry or a business opportunity or whole trade if you will the baby hasn't thought of previously. So if you hold the line number done here today will get you connected with this career direct license you can pass along.

He'll take the assessment online and let's see what the information comes back with, and perhaps you know that could get him going in the right direction, but I'm confident so the Lord will make it clear in the right timing where he needs to go and we appreciate you checking in with us today for sure.

Aaron God bless you. Thanks so much as quite a move from Maine to Arizona. I guess he can throw out his snow shovel.

At least that we wish you and he and his family the very best Cleveland, Ohio hello Mike, what you question for Rob on my ability so I questioning like how they work with are at what we have to use like my mom and dad have saving that dock like that yes and so you're wondering, wondering how you protect the assets of they won't get eaten up what you do with these eldercare costs is that right yeah you the asset that I get there any way to protect my mom to delay as my mom and together like one accounts are yeah yeah well it we would be this would be something that I think you would benefit from visiting with an elder care attorney who could really help you navigate this based on their specific situation. If you think you know he will ultimately need Medicaid obviously you know you have to have limited income and assets before will start to pay for care and you know there are ways to establish your revocable trusts and do certain things depending upon each person situation as you think about moving into this season of life. You know, so I think there's so it's worth probably spending some time to consider. You know what might be the best approach with the assets that they have.

So he's ready to deal with the costs of which it's good to be expensive and assisted living but also to make sure that his wife, your mom is provided for and everything is structured legally and properly so I would connect there in Cleveland with a certified kingdom advisor and asked for referral to a godly estate planning or specifically in eldercare attorney who can really just go over their situation and then bring some competent counsel with regard to how they should proceed moving forward. I know this is a challenging season. None of us are prepared to walk alongside aging parents and yet it's what were called to do in Scripture and so I'm delighted to hear Mike that you're helping your dad navigate this and I think in some my godly competent counsel to make the right decisions in the season is really key. Mike would lead you called. We wish you the best. Thanks so much and obviously Rob you are totally correct.

The boomers are not getting any younger. They're getting older and taking care of elderly parents is having that's a scenario that is not going the way I anything that adult children can do at this point to help their parents.

So think through and walk through some of these things.

Well, I think the bottom line is you don't just being well planned in advance in terms of thinking through, based on the assets of each person has what is our plan and if there's assets there to cover it great how are those properly positioned and invested in what options do they afford us in terms of in-home care or assisted living or even a nursing home when that's needed if there is not understanding what assistance is available from the government and what needs to happen in order to take advantage of that and what facilities would you be comfortable with and talking through their wishes mean there's really a lot of planning that can be done in advance to hopefully alleviate some of the stress and the strain and the challenges that come with that season of life and we want to do it in a way that honors our parents and you know and recognizes there's limitations financially. At the same time so these can be difficult and challenging discussions, but to being well-planned and thoughtful in advance is obviously really key probably have an email. We haven't gone to the email bag and a wireless one is from Keith. He says how can I determine if I should sell my rental home or rented out not a lot of details there, but he is a rental home. Should he sell it or rented out and remain a landlord yeah well yeah obviously I don't. I would need to know a lot more. But here's what I would just say generally you know if you can make a good bit of money in real estate.

If you've got the proper reserves meaning you're ready for repairs and other things that will come along and you are ready to put in the time to be a landlord. So it's not a passive investment by any means. It's an active investment they can talk because they can evolve some work, but if you have it rented out your cash flow positive, meaning any debt service and maintenance reserves, and obviously the taxes and utilities and all that is paid from the rental income, then guilt over time. In a sense, your renter is paying off the mortgage and now you've got an income producing asset that you own free and clear. I like that and diversifying away from the stock market. Once you have kind of a base of investments as your core investment strategy diversifying into another asset class like real estate's good thing. Now if you're saying though in this case, you know what I don't have time for it.

I want something more passive. This is not my cup of tea yelled and liquidating it paying the capital gains and putting that into a properly diversified investment portfolio would certainly be a lot less work and I think I should do as well or better over the long haul. Have you ever been a landlord rep.

I have not known me neither, and in the past when we talk with folks who called in this program. In fact, even thinking back to former hosts Howard Dayton and Larry Burket was always a little bit of the concerned that when you became a landlord as a Christian you almost took that on is a ministry I mean how you throw somebody out maybe to have a couple of children that can afford to their rent and like it or not you've almost got a ministry you scenario their right yeah and I think you know matter what business wherein we need to always be mindful that where the hands and feet of Jesus in the marketplace and we need to operate and conduct ourselves so to honor and glorify the Lord.

No matter what were doing, but that certainly would be true as a landlord said about. Thanks moneywise live is this program is a partnership between Moody radio and moneywise media. I really a pleasure to have you with us today. Hope you join us again tomorrow