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6 Reasons Not to Get Rich

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
October 22, 2021 5:22 pm

6 Reasons Not to Get Rich

MoneyWise / Rob West and Steve Moore

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October 22, 2021 5:22 pm

From making risky investments in cryptocurrency to buying lottery tickets, society is obsessed with acquiring wealth.  But is being rich a wise goal for you and your family? On today's MoneyWise Live, host Rob West will talk about 6 reasons you should consider why not to get rich. Then he’ll answer your calls and questions on various financial topics. 

See omnystudio.com/listener for privacy information.

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This is Damon Baxter and I serve as business development director for MIDI radio.

The only reason were able to spread the gospel of Jesus Christ on the radio is because of financial support from listeners like you. We also have businesses support us to like United States mortgage faith and family is at their core, it's why they choose to be such a close partner with our station is why they specifically advertise on Christian radio stations across the country. It's wife, father and son, John and Ryan still lead the company to this day. Check out United faith mortgage and their direct lender advantage@unitedstatesmortgage.com thanks to you and to United faith mortgage for supporting Rudy radio United faith mortgage is a DBA of United mortgage Corp. 25 Belleville Park Rd., Melville, NY license mortgage backer for licensing information, go to an MLS consumer access.org corporate MLS number 1330. Equal housing lender not licensed in Alaska, Hawaii, Georgia, Massachusetts, North Dakota, South Dakota and Utah 23 warnings do not toil to acquire well with your eyes light on the go suddenly sprout flying like an eagle toward heaven. Rob West from risky investments in crypto currency to buying lottery tickets in the 45 states that offer the societies obsessed with acquiring well talk about six reasons to get rich today. It's all your calls at 800-525-7000 800-525-7000 businesses moneywise live in now. I buying lottery tickets or falling for any other get-rich-quick schemes, even if that word which it almost never does.

You'd still be heading for trouble. Proverbs 1311 tells us what happens when money is easily acquired, it reads wealth gained hastily will dwindle, but whoever gathers little by little will increase it, so obviously it's better to accumulate wealth the old-fashioned way, by earning it.

But even then you still have to decide how to use it and before we talk about the only right reason to acquire wealth. Here are the six reasons you shouldn't. First, some people want to get rich simply because they're told to buy friends, family or society in general that glorifies money.

Lacking godly counsel, they acquire wealth for its own sake but Proverbs 14 says the nave believes everything but the sensible man considers his steps. The second reason not to get rich is envy envious or jealous people see the opulent lifestyle of others and lust for it, they pursue wealth to the exclusion of all else. It's no wonder that MB is one of the seven deadly sins.

It shows discontent with God's provision in Luke 1215 Jesus says take care and be on your guard against all covetousness for one's life does not consist in the abundance of his possessions. The third reason is looking at wealth accumulation is a game like it's a winner take all contest often at the expense of family, friends or business associates.

Jesus also warns about that in Matthew 16 it reads for what will it profit a man if he gains the whole world and forfeits his soul. The fourth reason not to get riches for self-esteem again. Society promotes this misguided belief that money makes you better than others by glamorizing the wealthy people are taken in by that because it feeds their egos. They may even give a lot of money to charities, but only if the recognized for it there. Giving is really self-promotion that compare that to first Timothy six which says instruct those who are rich in this present world not to be conceited or to fix their hope on the uncertainty of riches, but on God, who richly supplies us with all things to enjoy. The fifth reason not to acquire wealth is pretty simple and the one you hear about the most simply for the love of money. Those poor souls hoard wealth because they love it and they won't part with it, for any reason losing just a bit of it is a disaster for them. The truth is they worship money, but again we see in first Timothy six the love of money is the root of all evil, which while some coveted after, they have erred from the faith and pierced themselves through with many sorrows are sixth and final reason not to get riches for protection against any and all adversities in the world. Here we see a lack of faith in God to provide putting faith in money instead.

But we are blessed in knowing that God will provide his word tells us that over and over in Psalm 50 we see one example offered to God a sacrifice of thanksgiving and pay your vows to the most high call upon me in the day of trouble. I shall rescue you and you will honor me okay so those are the six reasons not to get rich and were left with the only reason believers should acquire wealth. The only good reason is to be generous.

It's perfectly fine to build wealth to meet our needs and to enjoy a portion of it ourselves. But the only reason God gives us a surplus above our needs is to give it to others and thereby advance his kingdom. When we do that we enjoy God's blessing.

Sometimes that's an even greater financial return.

Other times it's a priceless spiritual blessing. This is spelled out clearly in Luke six again and it will be given to you by your standard of measure, it will be measured to you and return.

In fact, the only way to break the power that money has over us. The only way to hold all of the six reasons not to acquire wealth is to give some away your calls next. 800-525-7000: 24, seven, 800-525-7000 and having trouble getting through on the phone, you can always love to hear from you and questions moneywise.Rob last year, listening to moneywise live your thanks for joining us today on moneywise live's financial decisions. You can move move forward with confidence.

We want you to recognize your role as a steward so you can hold God's money loosely lived with contentment and joy and peace of mind. That's what were after here and, ultimately, as we said to one of the primary objectives. I believe that God entrusted to us any more than we need to provide for families and to sustain ourselves would be to be able to respond to the needs around us, the people that need our assistance, where God is at work within your community and around the world and so we talk a lot about generosity here as well.

Wherever you find yourself on this journey. We'd love to interact with you. We got some lines open today 800-525-7000. That's 800-525-7000 were going to begin today in Greenville, South Carolina hi Rose, how can I help you yes let me ask you rose what type of loan. Are you seeking for what purpose. If you don't mind me asking when you use the money for that and me okay very good yell at you in terms of your the rest of your financial life you know obviously this is for you to live in.

So this is pretty important, but I'm curious just kind what the rest of the financial house looks like. Do you have an emergency fund. Do you have any credit card debts are you living on a budget, give me a sense of where your mind okay very good. How quick. Looking to borrow this money and is this someplace you're going to build or something is going to build for you or is it an existing structure not be purchasing it from your family. I see on its own parcel of land where you'd be able to get a mortgage on it rebuild the borrow and collateralize the cabin to the loan or is it on someone else's property and that's why you have to seek the personal okay you actually relocated okay very good. Well, here's the key. I mean, I think number one. I think this is a great idea. Love that you can be close to family. I think the key is, though you said.

I'm kinda loosely living on a budget, which means you have an idea of what you're spending, but perhaps not totally. And maybe there's not of a process in place to track the flow of money in and out. I'd love for you to get beyond that and actually have a plan and then have a way to control that plan because you and your ability to live within your means is, can be critical to you, not incurring any more debt, namely credit card debt which is a way we fund overspending and to make sure that as you borrow even more money to purchase this cabinets can be relocated that you don't find yourself in a position where at some point you're not able to cover that loan or even if you are, you don't have any margin left over to save for emergencies. I'd love for you to have a an emergency savings account, 3 to 6 months you don't have margin to give like you want to order to save for the future in a company-sponsored retirement plan something like that living within your means. Rose is really key to you. Having the margin to accomplish those priorities and to make sure that when you take on additional debt that it makes sense that it's something that you can support and cover without any trouble in your current income and having that plan is critical so I want to give you six-month subscription to the moneywise app where we give you a way to build that plan and then track all of your your truck spending in transactions against it to stay on budget.

So if you hold on the line when you're done today will get your information and make sure you get a subscription to the moneywise out beyond that in terms of how you position yourself to get the best terms and rates for that loan of the key is to have the best credit score possible. So you want to pay your bills on time you want to make sure any balances that you have hopefully heard zero but at the very least that there less than 30% of the limit, which is what's called your credit utilization and that you shop around to find the very best loan program and I would use bank rate.com to do that break bank rate.com so I think those are the things you need to do get that spending plan in place.

Get a system to track the flow of money. Let's get that emergency fund in place and then put yourself in a position to get the best rates and terms as you go out and seek this loan and listen all the best to you. I'm excited about this next season of your life and love for you to keep us posted along the way and thank you very much for your call folks a lot more ground to cover today were just getting started, but to there's room for you in our conversation, we'd love to hear from. Here's the number 800-525-7000 letters saving giving a talk about retirement investing for whatever might be in a 5257 times.

This is moneywise live on the west.

Moneywise, live today is your financial decisions and Rob Wester hosted would you like some help setting up a spending plan or getting on a budget. We have coaches that can help you do that. These are men and women who have been especially trained to do just that many of them. This is their ministry. They love helping God's people get on top of their finances to bring it under God's financial principles and help you practically set up that spending plan or debt repayment plan, whatever it might be that we'd love for you to connect with one of our coaches.

You can do that online quickly and easily just said to moneywise live.org and click community. You'll find right there in her community where you can connect with an expert including a coach or a certified kingdom advisor. If you need professional financial advice again moneywise live.org and you can connect with the coach would love for you to do that today were to head back to the phones all the lines are full, so just sit back and enjoy. We have some great questions coming out, but Mary wants to know what crypto currency is Mike's asking about paying down his mortgage but maybe is in Phoenix Arizona and wants to talk about estate planning, maybe how can I help you taking my call. I pretty talk about the whales and living Christ and start trying to figure out which one would work out best for me. I am a single lady on Social Security retired skit man I have I have a home. Some say things little little plot of land down stop here and town I've done the beneficiaries trying to keep the cost down but I don't have you know any. At that unit, but it Piaget's pain was so the power of attorney perhaps you way yeah yes yeah and not just finish but that's I don't. I did the beneficiary type. I don't know if they're correctly hope to critically dump it anyway. I was told that if if I can't get a will and it was worded correctly that it wouldn't go through probate. So I'm wondering what is the best to do does it depend upon what I have to leaving to my daughters and how to do it. Yes, well basically a will is the way in which you carry out your wishes after your death and you don't always need to use probate to be able to deal with in the state, but typically that's the way that that happens, the probate court so working with the executor handles the distribution of your assets according to your will. It's an important document to have it doesn't go into effect until after you died. But whereas a living trust. For instance, is active once it's created and funded and that means it could provide the protection or direct your assets if you become incapacitated, something a will is unable to do so. Assets are put into a trust and those assets specifically don't have to go through probate which is what gift typically happens with the will, so I would make sure if you know if your situation is fairly simple. You're just bequeathing assets out to family members to errors.

You have no special needs a will should suffice, but I would look to have some of these other documents in place as well. For instance, a living will or what might also be called an advanced directive is a document that states your wishes for end-of-life medical care power of attorney could allow someone to make specific decisions, including financial decisions on your behalf. If you are incapacitated and even a healthcare surrogate would name someone specifically to make healthcare decisions.

Those types of documents in that advance planning is just really important to make sure that your wishes are carried out in the same way a will would be in terms of how your assets are passed now.

Anything that has a named beneficiary like a retirement account. For instance, or something like that an insurance policy that would obviously pass outside of the will, according to who was named on those accounts and you want to keep that up today, but a will would cover everything else and in a fairly situate simple situation that should just about cover it. Does that make sense to you and and one friend of mine referred me to a cow who certified by the Supreme Court here in Arizona and licensed with the State Bar. But she's not an attorney now is status safe way to go. I mean it's very cost-effective for me in out compared to going to an attorney, but I don't know if that's really a safe way to Kyle yes and tell me what her credentials are. She is certified by the Supreme Court license with the state bar here in America that she's not an attorney, I would just ask her whether she feels like she can draft a document of this nature that complies with the laws of your state. You give you that counsel.

This assembly is obviously quite educated, and with the significant experience and so I think she would be able to weigh in on whether or not she had the ability to do that. If not to. Typically you'd expect to pay around $500 for will.

But I understand you want to save money and yet make sure that it's done right. Which is why would use an online tool and make sure you have somebody who's a professional has legal knowledge and expertise. Sounds like she probably does, but I'd verify that with her first and we appreciate your call today Mimi, thank you for listening to the program. Let's head to Sarasota, Florida hi Mike, how can I help you Hiram. Are you great. The question now my question today concerning mortgage and I have about $30,000.

I will fight to my mortgage.

I have a copy of my amortization schedule. My question is what would be the different being, if I just plop down the 30,000 towards the mortgage, or should I write an individual check to the amount of the principle that I can make within that $30,000.

Yeah, you're asking just whether or not the principal amount you want applied to principal reduction should be written separate to your monthly payment is that your question yes okay yeah I would call your mortgage servicer and just ask how they want that to be done. Just tell them that you want anything above that month's required payment which is starting to determine how that's gonna be allocated in terms of what portion of principal and what portion interest how they want you to give this additional amount you pay online or do you send a check that you typically do that I pay online okay and in some cases they might even have a way for you to put it in a separate box that applies it directly to principal reduction, but I'd I give them a quick call. It should be fairly simple. This happens all the time.

We typically don't see prepayment penalties anymore so you know anything you would send over and above the payment should be applied to principal. But it's worth a call, especially given the simple sum of money you're talking about putting toward this mortgage. It's worth a call for you to verify that you're doing it the way they wanted to be done so that it can be recorded properly. You could get it straightened out that you probably don't want to deal with the hassle. On the backend.

If it wasn't handled the way you wanted to. So I would give them a call but good for you Mike that you're putting a significant sum against her mortgage, which is to help you get paid off.

Even that much quicker. We appreciate your call that Mary is in Malaga, Minnesota hi Mary, I want to know all current definition of what it okay good well it's a digital currency. Mary essentially that can be used to buy goods and services. But what makes it unique is that it uses one: online ledger with something called cryptography to secure the transactions so there's something behind it called block chain which is really the technology that drives it that allows these transactions.

These digital transactions to be documented across peer-to-peer computers over the world, which makes it very secure because it can't be manipulated and it's decentralized in the sense that it's outside of government control and central authorities. The technology is here to stay where it's been getting a lot of press lately is not around how it's used as a means of exchange, but as an investment. Just because one of the most if not the most popular bit currency is for calling just been incredibly volatile, but had credible rises in value as Costello. I will talk a bit more of that. So glad you're along with us today moneywise live unraveling as biblical wisdom for your decisions gets very featured articles on the moneywise live.org website seven day financial makeover and five things that often lead parents into debt. That's right, having kids can be expensive. I'll tell you first and before of them but that will help you out without a great new article from Art Rayner might be just the ticket moneywise live.org.

By the way when you're there. Create a free account that will ensure that you get my weekly moneywise weekly wisdom email which has our trending podcasts or newest content in note for me and anything we need you to know to help you manage God's money wisely know why you're in moneywise live.org you can also jump into our community where you can post a question, get answers from our coaches. You can also find broadcast archives and search for a certified kingdom advisor in your area. It's all there in our website moneywise live.org we got the phone stacked up today all the wines are full. Let's get right back to at Chicago, Illinois Margarita, thanks for calling today.

How can I help you a question about whether to grant continuing on buying at the senior. It probably is a hot market is been difficult, but I'm kind about interest rates writing that I would need a mortgage yes okay so have you been renting your whole life or tell me, what's been going on in the housing area.

Now all I owned a home and sold it and have been renting the last four years. Okay, very good and what is your monthly rent roughly average in probably 2000 a month. Okay and tell me about your income sources in retirement to living off of retirement account. Just yeah yeah retirement account and okay very good and what you're pulling outs of that retirement account you have reason to believe it's not getting impact the principal and you should be able to maintain the balancers that you draw that account down to find no defined pension great okay and so the pension plus Social Security covers your expenses, but what you have that you could put toward this home purchase. When he bent down the hall and what you think you'd be looking to spend roughly what I'm comfortable that would've been 250 but I think I conducted 300 okay I got about a sense of the Navy 40% of my income. 40% of your income. Meeting the payment would be up at 40%. Yeah yeah okay yeah that be quite high so you think and you have the 60,000 to put down on $300,000. We had to but that would that take away your emergency funders that in addition to now that okay, but what you're saying is, though, that the you've done the math and the payment would be roughly how much on that 240,000 loan about yes about the same do not know with the tax and insurance, and you're saying that 2000, you're spending right now is about 60% of your income every month to 4040.

Yeah, I mean my target would be Margarita about 25%. Now obviously you're in a season of life. Are you probably have very little other expenses because you don't that sound like ebony dad, you're living modestly you're retired so you don't have kids on the payroll. All that kind of stuff that tends to add up so you could probably push beyond my 25% target for principal, interest, taxes and insurance but 40% is a bit high. Now you're right. You know you're already spending that on rent rent prices are elevated. I guess perhaps what I would be looking to do is to see if you could spend a little bit less go and get into something maybe around 250 instead of 300,000 where you could have a mortgage payment that's actually lower that your then you're spending right now. The key is though that you count the cost of the other expenses.

The things that you're going to now be responsible for that.

Perhaps you wouldn't in terms of putting something away for the maintenance I be putting away in a 1 to 2% a year of the value of the home to be able to repair things you want to make sure you have a good understanding what utilities are gonna cost so I would really lean into that budget to make sure that you understand what you're getting into. I don't have a problem with you buying but I just want to make sure it fits in the budget.

The other option is you give this six months or a year just to see if we get a softening of the housing market and we were still in a red-hot market and I don't think it's a bubble where it's all coming you know crashing down by any means been supply and demand is very real and we don't have enough inventory in the country right now for housing, which is why prices are elevated. I see that beginning to open up a bit, perhaps next year. And so it could be that you ride this out for another 6 to 12 months, but you begin looking for that place that may be a little less so you'd fit in your budget a little bit better. Okay right, no, not in the next 6 to 12 months a minute, we may be talking something slightly higher than what you have today, but historically speaking, Margarita. These are to be still incredibly low rates for the foreseeable future.

Okay, thank you for calling God blessed the lead said to Lake Sheila on Washington hi Peyton, how can help you. So I'm 21 and I want to start a line of credit, but I'm concerned about where I start because I don't want to have to close my line of credit and have that affect my credit score because I don't have something yet yeah why a line of credit. Anything that home equity line of credit, or something else credit card credit card okay and so your concern is is what not getting the right first credit card and later down the line when I closed that line of credit. I will affect my credit score basically just where to start with credit card yeah that makes sense. I wouldn't be terribly concerned about which one you start with. I think the key is that you got a good foundation under you got a spending plan your living within your means not incurring debt anything you charge is a budgeted expense in your paying it off, I might consider if you don't have credit and you're going to have to go with the kind of a lower tier of of lender or credit card issuer that you consider going with the bank but get a secured credit card where essentially you put a certain amount on deposit with a two or $300 and you would charge against it.

As always, you pay back they wouldn't touch the deposit, but it's there to collateralize the borrowing. So if you didn't pay they have a means of getting payback but the benefit is that would be reported to your credit report every month is you and is an on-time pair with a low credit utilization because I just use it for a small recurring budgeted item and then what you're going to do. There is just begin establishing your repayment history with the top tier lender credit card issuer.

In this case a bank and I think that's can get you well on your way to heaven. What you need along with documented income so that down the road when you need to buy a house or car or something like that. Got that credit established. Does that make sense yeah I uncheck nerd while liver credit cards.com for the best secured credit card issuers and you'll find the banks that have the best. I credit cards in this area that are secured the best option for you. You may be able to qualify even without a lot of credit for an unsecured card that would give you an option with a life got one line open 805 five 7000 W. This is moneywise thanks for joining us on moneywise live we apply the wisdom to your financial decisions. As we look at God's word.

We see more than 2300 verses on money possession. It often this area of money is the thing that competes with the Lord for first position in our lives if we look at the parable of the sewers and what choked out the word from yielding a 3060 hundredfold return. Jesus told the disciples, it was the deceitfulness of riches, the cares of this world and the desires for other things. Well, that tells me that money can compete for hearts and remember Jesus said where your treasure is, there your heart will be also sore heart follows our money. The question is how are we spending our money and are we happy that that's where hard is it is that reflect what's truly most important to us and if not, what changes do we need to make. Well, that's the question we all need to be asking as stewards and I'm talking to myself as well.

Let's do that together in community see if we can find the best path forward. According to biblical principles we can head to Tampa Florida next hi Janet, how can I help you think they think you many thing I like what I had an issue I'm going to be on the light and climbing out of my attorney fees Alone thinking think so and I wanted Into the 401(k) which I did not think that I think cream recommendation that I am free from that dictating attorney and then God has been great following.

I have been able to learn be able to have a lunch learn better financial situation felt so much for saying what an encouragement and I'm so delighted to hear God worked in your life, and clearly you were seeking to honor him and he's nothing blessed you.

As a result of that and thank you for sharing that testimony to the night and I gave my kiting guide how bad a great question. Now I have, and finally to find and maintain a concentrated counterpoint adding shaving cream because thank the Lord I don't need it anymore which is great and sometimes like to know how do I make and finally got into honoring him knowing I how do I invest that money. I got about 82 Grant 82 8200 hundred and $8200 and I just now highlighting that I didn't want to do is pay because he doesn't seem like he's going to go to university go down well but do you think those Janet your best guess is that this would be used for college. Even if it's not instate yet yeah okay well I definitely have an event that when he wants to give you and Mike have to latch and they got O'Connor turning on a college town. Okay.

So you know you don't have to use the Florida prepaid you could use what's called the 529 college savings which is available for any accredited institution and that way you'd get some investments built into it. I did get some tax-advantaged growth as well as its use for qualified educational expenses. What I would do.

You've got a great 529 there and in the state of Florida but now I'm not term of the prepayment term of the college savings, but it would be worth looking across the country just to see which is the best 529 for you, including which one has the best performance because they all have different investment fund families inside their 529's and some of them historically have done better than others, so I would go to saving for college.com saving for college.com, you'll run through their little question and answer process will put in the information about your son and how much money you have and where you live and they'll come back with recommendations on the top. You know, 529 savings plans to consider and then links where you can open those accounts fairly easily, but that would be the best option. If you know you want the money to be used for college because you could get it to grow between now and then and you get some tax-advantaged along the way that make sense to me in my market writing depending on the brink of the market will or you can be as conservative as you want.

In fact, the you know they have investment strategies in just about all of them were you can tie it to the age of the child so that as the child gets closer to college. So in your case you got five years will be a little more aggressive now, but as he gets closer and closer college, it'll automatically get more more conservative. So that would be one option if you just want to protect that you don't want to take any risk and forcing her to give up the potential for return, but you can do that and make sure that it's there. I just put it in the high-yield savings account going to get 1/2 a point will have a 1% right now, but that would ensure that the monies there when he needs it.

Because you're absolutely taking some risk in the 529 but it doesn't have to be aggressive in terms of its approach. You can still be fairly conservative, even though at the end of the day you are putting the money at risk. Okay been meeting contaminated brain drain I think you very much and I really appreciate your kind remarks today as well.

Lois is in green sound, Indiana hi Lois, how can I help Rob Lewis, my apologies. I misread the Lewis circuit happened only one that I'm sure that's the case, but nevertheless, I apologize Rob were using a broker to invest some money and when we explained to him that we one wanted to use the biblical principles testing.

He didn't have any knowledge of anyone so he did some research and he came up with the Timothy fund. I have not heard of them before. Would you share with me your knowledge of that and also I want to say thank you for the many hours you have spent gaining the knowledge that you share with us well Lewis thank you for that guy kind remarks or it's my privilege and and honor that well where the Timothy fund.

In fact Timothy fund's been around, they were one of the earliest in this space and what was called perhaps by some is still called biblically responsible investing primarily known for their ability to screen out companies that would be objectionable to the Christian values in terms of their primary business activities or even what they're doing with their corporate profit so as they apply the screens they limit the universe to companies that don't have those knowingly objectionable practices and then invest and build investment strategies around those that are remaining. The difference between Timothy funds and and perhaps some of the others that you we talk about a lot and again nothing wrong with Timothy I be fine for you to invest their would be not only avoiding objectionable companies but also pursuing companies that are having a positive impact in the world, even the kingdom impact. In some cases and that's where you know the work of the Eventide and praxis and inspire where they're spending a lot of their time to make sure they're both avoiding but then also embracing God honoring companies as well, all with the objective of achieving a phenomenal return on your money because part of your role stewardess to get to grow, and yelled many of these funds that I'm talking about are award-winning as well so I would head to our website moneywise live.org you can find information on both Eventide and praxis and inspire. But the Timothy fund. This would be right in there and I would have no issue with you pursuing these.

I might also though Lewis think about an advisor. Not that I want to cause you to leave this advisor/if you have a great relationship but you know there's a lot that can be done in the space of faith-based investing and so it sounds like he's willing to do the work, but rather than just kinda picking a few mutual funds and dropping it in there and saying it's done.

I'd love for you to have an investment advisor who really understands faith-based investing and can build a compelling comport portfolio that accomplishes your objectives but also you really aligns well with your values.

Does that make sense. Sure does, and I thank you very much okay Lewis thank you for your call today sir. May the Lord bless you. Let's quickly go to see Springfield, Missouri, Mike. I've unforeseen just got about a minute left to give it to me quickly and then if we have to continue off-line. We can tell me in my life house.

We sold it next month.

I was down to make $68,000 off of it will use that money to all our debt. We should have close to $6000 a month left over after we pay all our expenses. After that I need to know if I should be investing that money are using the cash flow to pay cash for house a couple years down the road.

We do have 10 acres of land that is bought and paid for and I want to build a log cabin on that. Yeah so you have 6000 a month in margin and in surpluses Arizona hearing that's correct after all okay okay to grab them up and what you doing for retirement savings and you do you have a company-sponsored plan available or something like that. I have a 401(k) that's just 1% match but it's not a whole lot. I don't have a lot in there unfortunately am 46 and I started late, so that's what you okay yeah so I'm going bump that up and you you can do a lip to 15% of your income try to max that out. Even though you're not getting matching you get it in the tax-deferred environment where you get the tax-free growth in your 46 but you still got 20 years or so and then you know the years beyond that that that money needs to last you.

So I think that could be a great option for you just to get more money working for you beyond that I would be looking at you know any portion that you planning to put toward this house, especially if you want to buy free and clear you if you got a time horizon of less than five years. I wouldn't be investing that I would leave it to the liquid to go and pay toward the house. Okay CDs or something along that line. Yeah, probably. High yield savings of the best right now just concede I can get anymore and you're still in a time that we appreciate your call, Mike apologize. I didn't have a whole lot of time the Lord bless you in the days ahead says I can make you want to say thank you my team today. Eric well call screening today for an interest in engineering. Amy Rios is our producer today in providing research this Henry thank you for the great calls today was a lot of fun. Thank you for your encouragement tomorrow to do it all over again perhaps Monday


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