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When Retirement and Generosity Seem at Odds

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
May 26, 2021 8:03 am

When Retirement and Generosity Seem at Odds

MoneyWise / Rob West and Steve Moore

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May 26, 2021 8:03 am

We’d all like to be more generous, but sometimes that desire seems to be in conflict with our need to prepare for the time when we retire and can no longer work. On the next MoneyWise Live, host Rob West will talk about that with David Parsley of the National Christian Foundation. Then Rob will address your questions on the financial topics you’d like to discuss. That’s on MoneyWise Live, where biblical wisdom meets today’s finances—weekdays at 4pm Eastern/3pm Central on Moody Radio.

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This is Doug Hastings, VP of Moody radio and were thankful for support from our listeners, and businesses like United faith mortgage.

Let's call it the couch cushion this is the moment when you need a tip for the pizza man a few bucks for your kids lunch or you can't say no to the sweet eight-year-old and her thin mints you've got no cash and no other options but to tear apart the house searching for hidden money. It's Ryan from United faith mortgage and it's funny how we can usually find a way to scrounge together a few bucks, hidden around our house. Shame on you if it's from your kids piggybacks for many listeners, though there's enough money sitting inside your home to buy a swimming pool full of thin mints, home values have gone up across the country. The last few years, leaving many of us with a good chunk of equity tucked inside our homes that we could cash out to use for life. If you'd like us to help. We are United faith mortgage United faith mortgage is a DBA of United mortgage Corp. 25 Millville Park Rd., Melville, NY. Licensed mortgage banker for all licensing information, go to an MLS consumer corporate MLS number 1330. Equal housing lender not licensed in Alaska, Hawaii, Georgia, Massachusetts, North Dakota, South Dakota and Utah and Proverbs 1124 tells us one gives freely yet grows all the richer. The mother withholds what he should give only suffers one is one of many verses that we claim God will provide. And bless those who were generous by Rob West. We all like to give more, but sometimes that seems to conflict with our need to prepare for when we can no longer work partially joins us to talk about that today that it's all your calls at 800-525-7000 800-525-7000. This is money wise live biblical truth always guides our financial decisions are yesterday's David Parsley manager with the National Christian foundation in Tampa Bay.

David is more than 30 years of sales and consulting experience. But he loves helping families create strategies to enhance their giving. David, it's a real treat to have you with us today. Thanks, Rob. It's great to be part of moneywise in the ministry in its touch my life for decades through learner Grandview and so many more and I appreciate you saying that David, as we said, preparing for retirement, and being generous can sometimes seem like conflicting priorities, so tells how you've seen advisors and givers navigate this to be wise with their resources to follow the leading of the Lord and also be generous. Yeah, those challenges can face everyone as we age and there's a lot of confusion and fear that people encounter on a development plans are. Wish they had developed plans and really that's that's a big part of it is sure transitioning and in life and mapping out strategies you need counsel and really to put this in the context we have a wonderful gentleman. The way service name: Steve and Steve was approaching his 70th year and in the past year. His his wife of many decades as passed away and he was putting his business up for sale. So there's a lot of changes going on in his life. So that's that's a particularly challenging time and he did not have any children and so he needed some help in thinking through his plans and he wanted to be generous, though during his lifetime, but he also needed help and come mapping out what is he need to live on and that's where ourselves and in some of his advisors got together well and clearly developing this strategy is the first step to becoming more generous. So walk us through that a bit further what happens after that it's it's in the Bible says there's a wisdom and a multitude of counselors so we were fortunate to be invited into Steve's circle and we met with his financial advisor who actually is part of the kingdom advisors our local study group so that's that's a blessing to be a part of such a group, but he he took the lead in helping Steve plan what what were hers lifestyle needs. What were some contingency plans and then he was able to work with us to secure a way for him to start giving now. During his lifetime because he had some really special charities, and ministries to support, to lift up kids who are in need of help and yet he still needed some guaranteed for income so the plan included some different elements to help him with his income, including a charitable gift annuity that guarantees income for the rest of his life. And then he opened up NCF giving fund to help him streamline his giving and we help them with research. We help them figure out where he wants to grant and when he wants to grant out money and then he also took a look at some of the ways he can leverage his IRA to fund some of his giving.

So all of all of the things came together to help Steve accomplish my remaining get a plan together to help them accomplish things that yet sounds like getting clearly there was a number of tools being deployed that did you find that Steve was surprised that he had all of those giving opportunities in retirement as Steve and Michael had a foxy you're really busy doing what you're doing building a business, having it in our family being engaged in life and you don't know about these options are available so you and I liken it to someone when it whenever you're driving a car and you hit big fog patch and there's confusion little bit of anxiety, a little sweaty when you're driving through that and you're not sure which way to go but when the fog dissipates you have, you're actually able to enjoy the journey and to honor the Lord and in this context you're able to to have some income and some opportunities to give wise limits and it's a joy, love, that this really illustrates the idea that giving doesn't have to be restricted even in the retirement season of life will continue to unpack this just around the corner were joined today by David Parsley with the National Christian foundation much more to come right around the corner. Then on to your questions.


This is moneywise live stay with us back to moneywise live their guest today is David Parsley, Senior relationship manager with the national Christian foundation in Tampa Bay were talking today about giving retirement are those two things in conflict with one another, absolutely not. And David just before the break you were talking about a great example of a gentleman named Steve where you worked with his financial advisor a certified kingdom advisor to develop a giving strategy even in this retirement season of life and you mentioned a few of the tools you deployed. You mentioned the charitable gift annuity you mentioned giving fund. You mentioned that he was getting give out of his IRA. I'd like to just quickly define each of these for somebody listening, wondering what is that but let's start with the charitable gift annuity. A quick description of maybe how that works. Yeah that charitable gift annuity is a great contract that you can set up to put away certain amount of money or assets that can secure you a certain amount of money on a quarterly or monthly basis for the rest of your life. You and and/or your spouse second to die type of contract that just gives you some insurance on what do I need to live on.

How can I secure a contract with a charity that reflects my values and I love and we don't know the duration of our life and when were called in the glory. There's certain amount left over that the charity will benefit from and but it gives the individual or couple some peace of mind and some guaranteed income. That's great, and that giving five-year we talk about this often here in the program. What I believe is one of the most powerful and underutilized giving tools I like to describe it as a charitable checking account to talk about the benefits of giving fund or a donor advised fund and really any season of your giving the eye doesn't did not advise fine is it's it is a charitable checking account and I also cannot elaborate on that second Swiss Army knife because you can use it in so many ways to accomplish them.

Wonderful things run your life. My wife and I've had ours for over 13 years simplifies your tax preparation interior one page for your tax return forgiving for what you done charitably, but for those folks that are in the later years and are updating their wills on the chair of the year of donor advised fund you're getting funded NCF can be added to your will to be like the receptacle for the remainder meant of what's left upon your death.

So it's a super easy way to direct the monies that are left over onto the charity said that you will instruct us to get to, or you put someone else in charge of your font after you after hopefully in glory.

But it's wonderful to have that in place and NCF. Baxley families. We support them and encourage them and help them in their giving through during her lifetime love that and then finally the IRA. Perhaps we could touch on the qualified charitable distribution. I think this is a powerful tool in retirement. It is that when you if you have an IRA and you your you will be notified that you need to start taking out and R&D a required minimum distribution when you face that instruction from your IRA custodian are you have the opportunity during in the tax code to redirect that income. If you don't need it to live on those opposing you receiving a check from your IRA company and that becomes income to you on your tax return and you have to pay taxes on that and you will enjoy it that you like to render unto Caesar. Some of that because it's income. If you don't need that income you had the ability to redirect up to $100,000 a year out of your IRA to go direct to charities which is a wonderful way to avoid income and income tax and have it actually go to it near charities that he prefers opposer paying unnecessary taxes. Excellent.

Obviously these tools and others are key to being able to really continue to give. If not, accelerate your giving in the retirement season of life. Is Steve still had a lot of options for how to give that would lead to more impact. For his favorite causes David how are you and NCF seeing this play out among the families and individuals you work with. It is a privilege and a joy to be a part of those conversations and to see it unfold on we see a lot more capacity of release during their lifetime. So Ron Lewis another wonderful man we all know and love and who helped start kingdom advisors as well as national Christian foundation. Ron, one of my favorite sayings is dear giving why your living Savior. Knowing where it's going and that is a pithy phrase, but it's also very appropriate.

Where we as individuals or couples as we have children and grandchildren. Let's say, wait, we had the privilege of actually mobilizing that charitable giving and helping instruct our kids and grandkids on what matters to us, what reflects our values and submit by as opposed to just putting in your will. When you're gone and certain amount of money flows down to the next generations. This helps you really build a generational love and generosity, which is really a great calling great stewardship opportunity. There's no doubt it is David you reference the advisor's role in this planning process. We mentioned the importance of having a certified kingdom advisor who shares your values. But what if you're working with a financial advisor who may not be a believer. Perhaps you didn't been met with some resistance from financial advisors to these types of giving strategies is that something you've experienced, and if so how do you overcome it possibly certainly experience. Obviously we we hope and encourage folks we we love and engage to choose men and women of faith like us who have CTAs that designation or they share their faith. But if they don't they're still professional. They still have a fiduciary responsibility and we encourage the this particular individuals or families to invite us into the conversation. So were able to help walk through the options available for them to give charitably to set up these type of giving strategies, giving plans that are not going to confess conflict with these advisors but it's a lot of it is a lack of knowledge. If they don't share the same prioritization of giving and being generous and being a good steward, we can still come alongside and help these families communicate with their advisors and gain some agreement on options and just given some good advice along the way they have very good, but obviously there's so much more to explore. And so much that the national Christian foundation has to offer in terms of assistance with developing a giving strategy and the incredible tools like donor advised funds or the complex gift planning services that you offer, and much more. So where can folks go to explore more about wealth and resources, and especially as it relates to wise giving, absolutely not. At the national Christian foundation. We have a wealth of information, videos, articles that the anyone can access I can go to and see half and really enjoy some amazing collection of information at their fingertips and they can also subscribe for weekly encouraging email arrives on Saturday morning by going to NCF particularly out there's an article we offer that shows you how to plan and give using your IRA, which I think a lot of your listeners will benefit from reading that absolutely will. David, thanks for helping us to learn how to be more generous.

Even in retirement. We appreciate you joining us today. Thanks for the opportunity with you.

A person with the national Christian foundation again. Their website NCF your calls or text 800-525-7000 800-525-7000 stay with us and the budget with us today for moneywise live on level as taking your calls and questions on anything financial just ahead 800-525-7000. We have lines open at 800-525-7000 you don't. But we started the day talking about the tension between saving for the future, saving for retirement. That season of life. Perhaps when we can no longer work for God reassigned this we realize were to be workers throughout the whole of our life right we see that were to be productive, contributing to the kingdom, and that God's calling our lives doesn't have an expiration date. Despite what the culture may tell us so we take a different viewpoint on retirement altogether, but what about the tension between saving for the future and giving now and I think that's something we all need to wrestle through Lowood Paul David Tripp says in his book redeeming money.

He says that you know if we start with provision which clearly were called to provide.

We see that in first Timothy, if we start there we perhaps will end up with an unending list of needs and wants.

That will never get past and perhaps will never get to the giving and yet the gospel story is a generosity story for God so loved the world that he gave you where made in the image of God. We are most like him when we're giving and so that we need to start with our giving, we here's what's gonna happen. Not only will that loosen the grip of money over our lives, but it allows us to experience. I think being calibrated to the heart of God being used by God and will also experience the joy that Jesus talked about when he said it's better to give than to receive.

So what are you doing to be generous right now systematically but also sacrificially and have you defined enough. What is that financial finish line is you save for the future, both in terms of capping lifestyle. How much do we want to spend on ourselves on a monthly basis beyond which will give everything away and how much is enough. With regard to our balance sheets ill. Are we ahead of where we need to be in saving for the future and therefore we need to take more of what were perhaps putting away for the future and redirected into God's economy right now. So the word out a bucket were God's provision stops with us but a pipeline, a conduit right into God's activity will I can't tell you what that looks like for you that's something you need to ask the Lord on your niece. But I would encourage you to really think and pray about setting financial finish lines or answering the question how much is enough for both lifestyle and accumulation and as you do see how God moves in your heart and gives you an opportunity to be even more generous to meet the needs of others around you right now and I'm confident you will find great joy in doing that by working to get to your phone calls today 800-525-7000 is a number call.

We have some lines open 800-525-7000 were going to begin in Hagerstown, Maryland Sue, your first on the broadcast. How can help you.

Hi Bob, thank you for the ministry and guide to different coming. I have a family that led over the mountain from I and going through some difficult time financially and at this point I would say they are not believers by hopeful that maybe we come alongside of them and encourage them to give you all a call to connect with a coach that can help them to assess their financial situation, they get probably close to declaring bankruptcy. They have refinanced the house a couple of times and it's just getting the finances under control. I think that I wanted to be able to give them a contact phone number to be able to do that because in Western Maryland we don't have a lot of good Internet so it difficult to go online and find application in order to do that but it there.

Another way that they create get in touch with somebody to connect with somebody and come alongside them. Well, I appreciate your encouragement Sue and so delighted to hear how you come alongside this family who's obviously in the time of need. And you know this is a season where they need people to walk in journey with them both in Council and in giving your doing both. We'd love to be a part of that as well. I think in addition to that, you know, it's an opportunity for the gospel because as we find ourselves in difficult circumstances. We are often more open to help seeing that there's a bigger story there and realizing that all of us have this God size space in our souls that we need to fill in working to try to fill it with all kinds of things other than Jesus, and will find that there were left unsatisfied. So perhaps this is an open door.

The Lord will use to bring them to the saving knowledge of Jesus Christ. Let me tell you to do this if you don't mind if you'll stay on the line, our producer will get your information and will get in touch with you. The best way to connect with a coach and by the way they are here to serve you there. Wonderful. These are trained volunteers that to really see this as their ministry.

Walking alongside other believers helping them get to on a spending plan helping them set up a debt repayment plan. A giving plan but also understanding the principles we talk about here on moneywise live every day how God's Word informs how we should handle his money and so they're going to do it clearly from a biblical vantage point, but with really practical help as well.

And so moneywise clicking connect with a coach is the easiest way to do that goes right into our system get you in line and the coach would be in touch very soon but I certainly get what you're saying and I will have somebody reach out to you to make that connection happen so soon. You hold the line by producer at today. Deb Solomon will get your information and our team will get in touch with you and let us know how this turns out. And I appreciate your call today to West Palm Beach, Florida.

Janet, thanks for your patience.

I can help you either gently with us all.

It looks like we're having some difficulty hearing you. Let's do this. I'm gonna ask you to get to a perhaps a better location maybe move from one into the room to the other receive.

You can find a stronger sell signal, and just after this next break. That's just ahead, we will come back to you. See if we can get you on the air and answer your question asking folks what questions do you have today.

How do you want to see God's word help you make the next step in your financial journey. I can promise you this. As you lean into God's principles. It will bring clarity and simplicity to your financial life and allow you to live more freely. Joy and contentment.

That's the promise we find in Scripture doesn't it's always good to be easy, doesn't mean you'll always have more than we need, but it does mean it'll lead us into a more intimate relationship with the father and that's the goal here is the number 800-525-7000 lives are open 800-525-7000 just around the corner much more moneywise live. Glad you joined us today on moneywise live on Rob West taking your calls and questions 800-525-7000. That's 800-525-7000.

We have lines open and would love to tackle whatever's on your mind today whether saving or giving.

Perhaps you want to talk about your credit score, how you deal with that.

Maybe it's this tension that we started with today, between saving for retirement and giving here and now and finding the balance of for each of us in terms of accumulation and actually being generous with those in need of those around us that we can tackle whatever's on your mind today will read it through a biblical lens and see if we can help you. Here's the number 800-525-7000 just before the break we heard from Janet in West Palm Beach. We didn't have a great that connection on the phone line but me just read her question and then the Janet give your response. Hopefully your listening Janet has set some grandkids that have some savings bonds that she actually gave them they've been lost. The sorry to hear that the Janet she's wondering what can she do about it but good news is U.S. Treasury be happy to help you with that if they were paper savings bonds that were lost, stolen or even destroyed. What you can do is just get replacement bonds from the US treasury.

They keep a record of thought, of course, the electronic ones but also the paper savings bonds that have been issued and you can search those records to replace your lost bonds. It treasury that's treasury direct.GOP doubt it's can be really easy and I suspect you don't have these, but if you do it's good to be really simple if you have the serial numbers of the lost bonds. Perhaps next time. If you use bonds and by the way, they're not my favorite tool just because they don't have a whole lot interest associated with them. But if you do have some bonds take a photo of them or write down those so serial numbers and put them in a secure safe location because that's the easiest way to get them replaced. You'll just provide those serial numbers to the Treasury Department and they will get those replacements for you if you don't have them, you'll fill out and submit a treasury form what's called 1048, 1048 and they're going to request information about the bonds with you own them or have the authority to act on behalf of the bond owner you don't want to sign it because you have to get it notarized to verify your identity and then you'll mail that in and they will search for and to hopefully replace the bonds that you that you bought for your grandkids so a treasury and you can follow those steps and hopefully sooner rather than later. You have those back in your hands and then get the kids to put those in really safe location. Maybe mom and spec that can help with that, Janet. We appreciate your call. Phone lines are open. We got about 10 of four lines open 800-525-7000 to Tennessee Sam, you're next on the program I can help you a 30 year fixed right about a year and my wife would lock your crap to pay it off early and I wondered which would be the way or make you pay extra payment or 28 year or the money directed towards principal yeah well in either case it's going to go directly toward the principal so anything you send, whether that's on a monthly basis or one time a year as long as it's in addition to the regularly scheduled payment so you know once a year you send essentially two payments your normal scheduled payment and then you add in all the same amount to it and double it and send that in that's good to go directly against principal and you'll want to make sure that happens. But these days it's fairly easy to do especially if you do it online.

You can actually enter it right there as a payment director, principal, or you can add something to your mortgage payment every month. 100 or $200 and what's amazing is that there just by adding hundred dollars a month you can knock years off your mortgage yelp five years or more, 200 even more than that, of course, so it'll really add up quickly and if you're going to do this on a regular basis or once a year. I just reach out to your mortgage servicer and ask how you can best do that so that it automatically is applied to the principal but I don't find many folks that have trouble with that. Sam and I love the idea that you would just systematically be paying this down because you way the mortgage works is at the beginning of every. Which is on a monthly basis. That interest is calculated based on the outstanding principal balance of every dollar that you reduce that by by sending extra over and above your monthly payment going directly to principal is less money that you can be paying interest on each month and over the life of a 30 year mortgage.

That amounts to eight and that will save you a lot of time and and money and paying that off this that make sense though I absolutely Sam, thank you for listening and calling today.

We appreciate it on to Rockwood, Tennessee were to stay in Tennessee.

Jeff you're next on the program. How can help user yes sir, I have 1K from Outlook. I'm retired and my wife has rebate from our work will she's retired and were crouching at age 70 and I'm assuming that we can set up a direct transfer of money from each account to like our savings account or what ever since we don't necessarily need the money, but what I'm wondering is it if we do that when we reach age 72 and have to take the RMD's will that go over and above what were transferring now or was that no care.

Yeah, that would take care of you just want to make sure that when you reach that point in your right you won't have that until you're 72 so your first required minimum must be taken by April 1 of the year after you turn 72 and then subsequent RMD's taken by 1231 December 31 of each year. There's a hefty penalty of 50% if you don't take that amount. So you want to do it. And typically, your custodian will report what that amount is on a on a form that they'll provide you or you can use the to determine that amount but to your question. You just need to make sure you at least take that amount out every year. So if you're already drawing a systematic amount. An automatic transfer from your 401(k) or IRA to your checking account as long as that amount that you're already taking.

When you start to have these required minimums each year is at least the same or more than your required minimum then your covered the required minimum distribution is not in addition to anything you have been taking systematically on your previously, so units can want to look at what that required minimum is and then compare that to what you're drawing out monthly and therefore the total that's coming out over a 12 month basis for each calendar year, and as long as that meets that minimum.

Then you've got it covered that make sense yes sir, thank you so much okay and let me just mention one of the things Jeff once it gets into an IRA.

If you do, roll it over. Take a look at the qualified charitable distribution. This is an opportunity for you to satisfy that RMD every year by doing a direct transfer to your church or ministry, a not-for-profit 501(c)(3). You don't recognize it as income.

Therefore the ministry gets more money. You satisfy your RMD at the same time and you could use it for money, you're already giving away and then perhaps hang onto that cash not make that direct gift any longer, but do it directly from your IRA and the benefit is not only did they get the full amount to use for ministry. But you get the full amount as the tax deduction, nobody. You don't ever pay any tax on it. So go the qualified charitable distribution you want to check that out when you reach age 70 paws but more of your questions just around the corner 800-525-7000. This is moneywise life for God's word meets today's financial decision. Stay with us much more to come. Delighted to have you along with us today. I moneywise live we apply God's truth to your financial life. There you will moneywise live underwriter or contributor. I guess I should say, if not ahead love to invite you to give to this ministry, but we can only do what we do because of your generous support each day and were so thankful for so many of you in the moneywise community that are active givers to this ministry beyond the gifts you make to your local church. We can only do what we do because of your support or coaches on the air through the app on the web. It's all because of you. And as we close out the month. Here we could certainly use your assistance, especially as we head into the lean summer months.

Here's how you do. I just sent over to our website moneywise you can click the donate button you can give quickly and safely. Whether it's a one-time gift or perhaps you want to set up a monthly gift.

Whatever you can do, we would certainly appreciate it. Moneywise,, click donate, and we thank you in advance but said to Fort Myers Florida next Linda, thank you for being so patient today.

How can I assist you in my car so I'm turning every week and I my home. I get paid so I'm wanting to set money aside for retirement like to retire at 62, and so I only have an IRA that I'm putting in 500 a month and earning 4% and it's got like 20,000, but my accountant says I can only put in 7000 a year side, unable to put more money aside not just don't know where to what is your recommendation as to what else I get my money until set up a retirement yeah that's a great question, Linda appreciate that a couple of things. Number one is I'd love for you to know what your goal is and you might say well I just want to save as much as I can and I would certainly appreciate that, but I think understanding what you need to make ends meet. When you reach retirement is going to be critical and that really all flows from what are your monthly expenses going to be when you reach that season when you're perhaps no longer saving for the future because you're in that season and hopefully your debt free and expenses are as lean as possible, but understanding what that monthly amount is and then comparing that to your income sources, be it Social Security, and you know an income stream from you. Whatever you're able to accumulate in your IRA and other sources which will talk about here in just a moment. Have you done that planning do you have a good sense of what it's going to take for you to find your lifestyle when you get to that point and what gap exists between Social Security and that number might not tell if I continue to little but 500 a month and be IRA it will be around 60,006 until right and well basically.that's where I'm at but unable to put away another balloting.

I don't know if putting a dent in a savings account. The best place I I want to know where else you that I make sense. What is so what is a good take to fund your expenses every month. Beyond the 1400 your expected from Social Security have a sense of that now. Okay so I think that's the next step is really to calculate that budget and say okay when I reached that point. Here's what I'm going to need to have an income to meet my obligations. If you're planning to stay when your current home. You know what is it take to fund the utilities and food and insurance and all the things you have. Let's figure out what you're trying to solve for because that 60,000.

Ideally, you'd only take about 2500 a year out of that, but that you know is only going to give you an extra $200 a month over that 1400s of 1600 a month is not going to do it, then obviously you're going to need to save a bit more now the good news is is you said you got an extra thousand dollars a month, 12,000 a year that could be another 40,000 right there.

So let's say you have 100,000 Allin that you can help use for your retirement and that's can obviously increase that 2400 again at 4%. That would put you up at about 4000 I would look at a couple of things I don't want you to take too much risk.

With this money because you know were talking about the juicy six years from now. Is that right you look at six years for retirement. Yeah okay great here yeah so you know we we really probably don't want to put this in the stock market necessarily or if you do, you know, maybe putting a portion of it in the market maybe half and then the other half and more fixed income type instruments in terms of options to save on a tax-deferred basis. If you don't have a do you have a 401(k) or other retirement plan available to your work. Okay I'm I am having trouble hearing is only just finished by saying I think that would be my first place to go is look for another retirement plan option at work if you don't have it in your fully maxing out your IRA that you have a couple of options there. You could look at an insurance product like an annuity where you can save on a tax-deferred basis inside in an insurance product or you could save on a taxable basis in an investment brokerage account.

You won't have tax deferral so you pay taxes every time you realize again and I realize that's not ideal up. So what I do is I connect with a certified kingdom advisor there in your area to talk through this. Just go to our website moneywise and click connect with the CK and you can explore both of these options. The key is just be really faithful and setting that thousand a month away because that's gonna be a significant amount of money over the next six years am delighted to hear your debt free and it sounds like I with that hundred thousand plus your retirement. You'll be well on your way to having what you need to cover your obligations. We appreciate your call today to Des Plaines, Illinois, Kathleen, you're next on the program. How can I help you with financial article that I came across this thing called bump up and lay you connect it to your credit card and there's certain company that will reward you. And I like it that part of their stock so you get like a likely word and there's like four different for different avenues and you pick oddities company and then it gets split every Bank money or credit card rewarded a certain percentage and I don't know if you've ever heard of it called bump stop and I just know I think it's pretty new but I signed up but I didn't connect it to a card, but I wanted to know if you heard anything about it. Yeah I'm familiar with the Kathleen and there's not anything wrong with it. It's not a scam of any kind, it's legitimate. It's actually an app called bump as opposed bump up bumped and basically it's a loyalty program but instead of the usual coupons or discounts. As you said there to give you a fractional shares of company stock. Each time you make a purchase at one of your favorite retailers or restaurants or something like that and over 100 top brands are participating in it. You become an owner of those companies with the fractional shares. No fees involved. Also, here's the key with any of these. Whether it's in a bump where they're giving you in fractional shares or some other type of rewards card were getting cashback or loyalty points. The key is you just need to make sure you're only spending on things that are within your spending plan because there's no reason to use an app like bumped up to run up credit card debt just to buy fractional shares.

But as long as you're buying things that are budgeted items there in up you in your plan and if they're willing without any fees to give you fractional shares, then no reason not to do that. Let's take full advantage of that.

Your credit cards. I don't think are a problem unless they are. Here's what I mean by that is always your discipline as long as you living on a spending plan as long as you're only using them for budgeted items. They can be a really powerful tool both from convenience for convenience, as well as from the rewards standpoint so I would do absolutely take advantage of it and this is entirely legitimate. We appreciate your call today. Let's finish in Dalton, Georgia Anna, thank you for your patience can help you earlier color reminded me wondering for years that about 40 years ago I would have program here locally and I won behind $100.95 that I never went to get always wondered if that was something I could track down track down some yeah yeah so you actually did purchase the savings bond with dictate without aisle I was awarded the technique on Abbott Padgett and part of my heart.

My we let that I was supposed to get up at a bank. I see I would contact. I would go to treasury and contact the US treasury through that website treasury direct.GOP and they'll tell you the process. The question is because you didn't buy it was given to you as a gift.

You never picked it up, there's gonna be a lack of information there for them to do a bunch of research on it, especially given how old it is a means you can try to fill out and submit treasury form 1048 with all the information you know about that bond you never claimed but I suspect, given how long ago it's been in this event surrounding it and the little bit of information you're going to have you're going to have some trouble tracking it down, but that doesn't mean it's not worth a try. So I would head over to treasury get the information get it back to them and let's see what happens. And Anna, be sure to let us know how it turns out we appreciate your call today will folks that's going to do it for us. So appreciate you stopping by spending some time with us today as we unpack God's truth related to your finances, you know, there is an unending number of ways we can allocate God's money, but we can actually make it really simple for us as we live within our means and avoid the use of dad and have some margin of give generously and sets of long-term goals we put in our spot ourselves in a position to experience God's best. Hey moneywise live is a partnership between Moody radio and moneywise immediately say thank you to my team today call screener Gevity researchers Jim Henry producing today. Deb Solomon engineering Amy Rios and it's Amy's 20th wedding anniversary. Congrats to you Marty folks come back to join us tomorrow will be here to do it all over again on another edition of moneywise live in the meantime make a

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