The Best Career Fields in 2022

Ephesians 2,10 reads, For we are his workmanship, created in Christ Jesus for good works, which God prepared beforehand that we should walk in them.

I am Rob West. Our work should glorify God. That makes choosing the right career field especially important. If you're deciding on a career path or looking to make a change, I've got a list of the best careers to pursue a career where you won't be able to find a job or find one in your career path.

A lot of education and on-the-job training, but if you make it through and become board certified, the annual median salary for a medical doctor is, drum roll please, over $210,000. Here's another one that's been hugely affected by COVID, supply chain management. These jobs include purchasing, logistics, and distribution. If you're good at math and like tinkering with systems to make them run efficiently, this field is for you. You'll need at least a bachelor's degree and the median annual salary is $85,000.

It shouldn't come as a surprise that IT makes the list as well. The information technology field is constantly expanding. Many of these jobs are now offered with the ability to work remotely, so if you'd rather spend your time with code than with people, IT is something to consider.

The Bureau of Labor Statistics predicts that 300,000 new IT positions will open up before 2030. The median salary is around $100,000 a year. You don't necessarily need a degree for IT work, but it will certainly provide more opportunities than not having one. If you do like working with people, Human Resources is expected to be another field enjoying significant growth in the years ahead, with nearly 50,000 new jobs by 2029. You'll also need a bachelor's degree to advance in Human Resources, but expect an annual median salary around $65,000. Financial Management is another biggie.

Job growth there is expected to increase by 15% over the next 10 years. You'll need a bachelor's degree, but many companies prefer candidates with an MBA. It's definitely worth it, though, as the median annual salary is around $120,000. If you like to build things, or better yet, watching and supervising other people building things, Construction Management could be for you.

You'll usually need a bachelor's degree to become a construction manager, but the annual median salary is around $100,000. Okay, so far all of these have required at least a bachelor's degree, but what if college isn't for you? What about jobs that don't require that level of education?

Well, fear not, there are plenty. If you're good at handling stressful situations, you might consider a career as a police officer. You'll need a high school diploma and a driver's license, and you'll have to pass written and physical testing and go through cadet and on-the-job training. You can expect more than 40,000 new police officer positions opening up in the next decade with a median salary of $65,000. And if you like tinkering with nuts and bolts, consider a career as an industrial machinery mechanic. Employers are likely to offer on-the-job training for these positions, and you can expect more than 60,000 industrial mechanic positions to open up by the end of the decade.

You'll also need a high school diploma or equivalent, and the median annual salary is just over $55,000. Well, those are some of the top career fields for job growth in the years ahead. We hope you'll find the information helpful as you choose yours. Your calls are next, 800-525-7000. I'm Rob West, and you're listening to MoneyWise Live, biblical wisdom for your financial decisions. Thanks for joining us today on MoneyWise Live. I'm Rob West, your host. Glad to have you along with us today as we explore the Scriptures and apply God's timeless financial principles to the questions and decisions you're making each day related to God's money.

We're stewards, so let's together handle God's money well, and when we apply biblical wisdom, well, we're putting ourselves on the track to experience God's best. We've got some lines open today. Perhaps one is for you with whatever question you're dealing with. 800-525-7000 is the number to call. 800-525-7000. We'll begin today in the Twin Cities. Anna, thank you for calling. How can I help you?

Hi, thanks for having me on. I have a $100,000 life insurance policy with a cash value. It's good until I'm age 94. Would it be wise for me to increase the amount and pay additional premiums to extend the benefit until I'm age 100?

Well, let's first talk about the purpose of it. So with a whole life policy, there's a death benefit, and then there's a savings component. Are you carrying this policy into your 60s and beyond, specifically for the death benefit, or are you primarily looking at it as a vehicle for savings? For the death benefit for my family.

Okay. And so are you looking at this to offset a need that would exist as a result of your passing, or is it intended to be an inheritance of some kind? Just inheritance. Now, the only thing I would look at is whether it makes sense to continue to pay it, because as you age, obviously the mortality expense increases as they insure your life. You're going to spend more and more toward the death benefit itself. And then the savings component, arguably you could do better outside of that insurance product, depending upon what your risk tolerance is and your goals and objectives. So I guess the starting point is to say, would you be better off just taking that same amount and redirecting it toward an asset that could go 100% towards your savings and investments as opposed to continuing to fund this mortality expense? Because if you are healthy and you live a long time and the Lord tarries, then you're going to spend a lot of money being now at age 100 to fund this death benefit. And what if you were to take that same amount of money and redirect it some other place, and then you would have access to that money if you needed it throughout your life, but you'd also be building wealth that then could be passed on as an inheritance. So depending upon your goals, I guess that would be the first question is, are you sure it makes sense to continue to pay the premium if really the goal is only to pass it as an inheritance as opposed to the primary need for life insurance, which is typically to offset the loss of an income or an added expense that dependents would incur as a result of your passing.

Talk to me about that part of it. Well, I wouldn't have any other debt that they would inherit or need to take care of. So do you mean if I took the cash value and invested that?

Yeah, that's what I'm saying. And keep in mind that, you know, what's going toward this policy every month, a portion of it is going into the savings component of the policy, but a portion of it is just going to fund the mortality expense that's related to your age and what it costs to ensure your life. And I guess my question is, what if you were to take that whole premium and invest it, would that be a better option so that 100% of that money is working for you as opposed to some of it going to the life insurance component of it, given that there may not be a real need that exists apart from you just wanting to best bless your family, you know, with the life insurance proceeds.

So I guess that's the piece that I'm looking at. Your estate is going to take care of your debts and anything you have, so the question is, do you want to just pass your assets to them, or do you want to pass your assets plus this insurance policy? And then the question is, what is it going to cost you between now and when the Lord calls you home to continue to pay for this policy, and does it make sense to put that much money toward a death benefit that they may not really need?

Does that make sense? It does. The premium is only $45. Okay. And what is the death benefit? $100,000.

Okay. And so you're only sending $100,000, or excuse me, $45 a month for $100,000 worth of death benefit, so the rest of that mortality expense is probably coming out of the cash value that you've accumulated? Have you seen a statement on that policy to show exactly what it's costing each year to continue to maintain that $100,000? Yes, and that's what triggered this question because they said I wouldn't even need to pay any premium and still have the death benefit at age 94.

Right. So they're using the cash value that you've accumulated to fund that mortality expense, and so that balance is going to be declining. So the question is, would it make sense for you to go ahead and surrender the policy and take the cash value and invest it, or leave it right where it is? What is the cash value today that you've accumulated? It's about $8,000.

About $8,000. Okay. And you've been paying on this policy for a long, long time, right?

Since 91. Okay, yeah. So you've put a lot into this. Well, I think perhaps the key is, because essentially it's already paid up, to have somebody evaluate this just to analyze what makes the most sense, given what you've already put into it, the cash value that exists today, and the death benefit that's coming, and what it's going to take for you to continue to maintain this policy to, I think you said it's currently going to be good through age 94, is that right? Yes. Okay.

Which may make more sense just to leave it right there. So I would have somebody who can read the fine print, help you understand what you've put into it, make sure you're clear on what it's going to take to get you from here to age 94, and then look at that option to extend it to age 100, and just analyze this policy for you. Somebody who's objective, who could give you some real wise counsel on that. So I'm going to recommend you connect with one of our certified kingdom advisors there in the Twin Cities to look at this policy and help you understand what your next steps are.

It could be that you'd want to just hang on to what you've got, given how long you've been investing into this, but I'd want to have somebody just look at the fine print, read it over, and make sure that is, in fact, the very best decision. You can find a CKA there in Minnesota by heading to our website, MoneyWiseLive.org. Just click Find a CKA. Listen, Anna, all the best to you in the days ahead. Thank you for your call. Wendy's in Chattanooga, Tennessee. By the way, lines are open.

800-525-7000. Wendy, you're next on the program. Go right ahead. Love the program. God has blessed you with such wisdom.

Thank you for sharing it. My question is this. Do you think, as an individual, you need to have multiple checking accounts, multiple debit cards? Tell me what you're thinking there in terms of why.

And you may just be asking without any specific reason, and that's fine, but I'm just curious. Was there something specific that was driving you toward considering having multiple accounts? Yes, absolutely. So about three years ago, my identity was stolen, and my purse was stolen, but I actually had a debit card on me, but the other two were in my purse.

And so, you know, I don't know. I'm just thinking, do I need multiple checking accounts with multiple banks, or should I have everything in one checking account, one savings account? It's a great question, and I think, you know, I wouldn't advise you to keep multiple checking accounts. You may want to have multiple savings accounts at one institution, especially if there's no fees associated with them, if you wanted to earmark them for a specific savings goal, and that's just a simpler way to do it. But in terms of maintaining multiple checking accounts across multiple banks, it really just adds more hassle than I think it's worth in terms of any kind of protection or efficiencies you would gain as a result of that, either based on a potential failure of a bank or your information being compromised. Because it's just keeping up with multiple accounts and trying to figure out where did I make my deposit to and, you know, what had balances in what place and which, you know, account am I going to spend from. I mean, typically, we have direct deposits, you know, going into one account, and then we spend out of that account, and then I'd recommend you have a separate savings account, perhaps at another institution.

I would generally recommend the online banks for the savings account because you can open a free savings account with, you know, at least a half a percentage point today in interest, link it to your checking, and then you've got two different institutions, and it's always, you know, a transfer away. But in terms of trying to maintain multiple checking accounts, I just don't think it's very efficient. And in terms of the safeguards, as long as you're keeping up with your account, you know, monitoring it regularly, if you have an account lost or a card lost, immediately, you know, going on, you know, with your smartphone app or logging in online and, you know, clicking to lock that account or that debit card. There are protections in place that I think will allow you to really safeguard yourself.

And so given that, I just think it would be more hassle than it's worth. Does all that make sense, though? It does make sense.

And if I can ask one more question. I had a friend of mine who's a retired banker, and he said, never carry a debit card, always carry a credit card and just pay it off because if it's compromised on a purchase or something, then you can stop that where the debit card that money's gone. Yeah. So, I mean, that's something to look at. I mean, there is protection against debit cards.

The challenge is it's more difficult to get it back because when it's compromised, the money comes right out and then you have to wait for it to be restored and you may have some automatic transactions that call you to get an overdraft. So you're right on that. Stay on the line. We'll talk more off the air.

We'll be right back. Thanks for joining us today on Money Wise Live, biblical wisdom for your financial decisions. Phone lines are open 800-525-7000 for your questions on anything financial. Just before the break, we were talking to Wendy and she asked a question just there at the tail end related to the security of debit cards. And it's a great question because although there are protections in place, as long as you report fraud within a timely basis, which is generally 60 days, it can be a bit more of a hassle in the sense that if your account is compromised, keep in mind with a debit card, that money's coming out immediately and instantaneously, which means any outstanding checks or automatic recurring transactions could bounce. And there is the hassle factor while you're disputing the fraud and waiting for that money to be restored. So you just have to recognize that. The flip side is make sure that you don't go into debt because with a debit card, you can only spend what you have. So there is protection, but it's a bit easier to work with on a credit card because you have the same protections and the money is never taken from your account. It's disputed. You never have to pay it and you're not out anything from your financial accounts as long as you dispute it on a timely basis. So just recognize that.

And I think there's still benefits to having either of them as long as you understand what you're getting into. All right, let's head back to the phones. DeKalb, Illinois. Hi, Frank. Thanks for calling. How can I help you, sir? Thank you for taking my call.

I have a question. I'm going to retire in just over two and a half years and I'm going to get a truck because my car has about 200,000 miles on it. I won't have a house payment.

I'll be in a year. I'll have my car paid off. So I'll start saving up for my truck when I retire. Now, my question is, do I take the money out of my 401k after I retire to pay off the truck? Or would it be better to take what I save, put money down and take out a three year loan to pay it off?

Which one would be more interest? Because if I take it out of my 401k, I got to pay interest on it, correct? Well, you don't pay interest, but it'll be taxable to you. So it'll add to your tax, your taxable income for the year in which you withdraw it. And then you'll have the loss of any kind of return you would have received by the investments that are in it. Now, there's the potential for loss just as great as the potential for an increase. But bottom line is that money is no longer working for you and whatever investments had been selected.

So you're missing out on that. And then it's added to your taxable income. The benefit is that then you own the truck free and clear. Obviously, with the loan that you would take out for three years, you'd have some interest there. So I think it really comes down to what is your investment strategy? And would you rather stay with that with that money, hoping that you're going to earn more over time in the 401k, than you'd pay an interest expense for the truck? Because you're going to have to pay the taxes at some point when you take that money out of the 401k, either now or later.

And we're probably not going to see tax rates any lower than they are today in the future. So I think from a tax standpoint, now is probably as good a time, if not a better time, to take the money out. The question is just, are you going to earn more with the investments you have in the 401k than you would be paying an interest on that loan? How is that 401k invested?

It's diversified. I put $3,000 in a year and work matches $3,000, so I do that, but we've got other retirement investments through the bank and all that, which is our main one that we're drawing on. So money-wise, we won't be too bad. I'm just trying to figure out, do I spend the money outright? That way I don't have a monthly payment because, like I said, I'll have everything paid off.

I don't have any expense at all. Thanks for tuning into Money Wise Live, biblical wisdom for your financial decisions. I'm Rob West, your host.

We're so glad to have you along with us today. Hey, our Money Wise Weekly Wisdom email came out today. The theme is, where do you see yourself in five years? I'll give you something to think about right there at the beginning related to your long-term planning. There's our recommended reads with the best career fields in 2022, four essential questions for a wise steward's estate, and a great article on the best way to close credit accounts.

That plus our trending podcasts and our verse of the week. It's all there in our Money Wise Weekly Wisdom email. It just went out today, and we'll be sure to get you a copy when you create your free Money Wise account at MoneyWiseLive.org.

That's MoneyWiseLive.org. You can sign up today. All right, we've got a few lines open.

Here's the number, 800-525-7000. In just a moment, we'll be with Linda in Illinois, Brad's in Indiana. But first, Sheila is in Wichita, Kansas. And Sheila, I understand you have a credit score question. Is that right? Yes. Go right ahead.

Okay. My credit score was like 639. And just a day or two ago, I have the Credit Karma app, and they sent me a thing saying your TransUnion went down. And when I looked into it, it went down 31 points.

And I was like, wow, I mean, it takes forever for it to go up one or two points. So I called TransUnion. I finally got to talk to a guy, and he's sending my credit report free for me.

But he couldn't tell me much over the phone. But I said, well, I just paid off two personal loans. And he said, you know, that can decrease your credit score. Is that true?

It is. Now, when you say personal loans, were they being paid to institutions that were being reported to your credit report? Or were they truly personal, just, you know, between you and an individual? No, it was personal loans for a company.

Okay. So that's exactly right. Your credit score can drop, Sheila, after you pay off a loan.

And here's why. It changes what's called your credit mix, which is the different types of loans you have outstanding. So your credit mix accounts for 10 percent of your score. Oddly enough, the more kinds of credit you have, mortgage, car, you know, car loan, credit card, personal loan, the more it helps your credit score. So if you close a revolving account like a credit card, that can lower your score even more because it reduces your available credit because the limit that was available to you is no longer there. In the case of an installment loan, like you likely had, it doesn't get into credit utilization, but it changes your credit mix. Also, if those accounts were older accounts versus the other active accounts you have in your credit file, that can affect it as well because history, how long you've had credit, is a key part as well. And those accounts may no longer be being factored into the algorithm that generates your score. But here's the bottom line.

I wouldn't worry about that too much. I mean, I certainly wouldn't pay a dime of interest on a loan and keeping it open just for my credit score. We want to get out of debt. We want to pay off accounts.

We want to close accounts. That's a good thing. And as long as you're an on-time payer every month, as long as you're keeping your balances at zero or low, certainly for revolving accounts below 30 percent of the limit, you're going to be rewarded over time without having any late payments or anything like that. And that dip in your credit score will recover in no time at all as long as you keep making good choices. So I wouldn't worry about it.

I know it can be frustrating. But bottom line is, unless you're out seeking new credit here in the next few months, it's really not going to make a difference anyway because your score is changing all the time. And you just keep being an on-time payer and that score will recover, OK? Yeah, I was just shocked because I feel like it's like you're being punished if you pay off a loan early.

Right. And here's the thing is the algorithms are designed to determine how likely you are to repay as agreed. And so they look at, you know, as a part of this formula that's guarded kind of like the Coca-Cola secret. You know, there's all kinds of factors that say whether or not, you know, you're likely to repay. And one of those is how well you manage your credit. So do you have different types of credit? What tier of lenders are they? Are you an on-time payer?

How much do you charge versus the limit? How many different kinds of accounts do you have? I mean, all of these things factor into whether or not you're a quote unquote good credit risk, but they don't always point to sound money management decision making.

Because, again, as you said, you're rewarded for having more open accounts as long as you're paying them on a timely basis. So I would say you just keep on doing what you're doing. It sounds like you're making good choices.

And I wouldn't think too much about that credit score. We appreciate your call today. Brad's up next in Indiana. Brad, go right ahead. Hi.

Here's my question. My wife and I are 20 years into a 30-year mortgage. We were looking at reducing our interest rate, spoke with our lender, and they proposed an interest rate that pretty much we've never refinanced. So it would greatly reduce almost in half our current interest rate, but it comes with a new 30-year mortgage.

So trying to decide here what wisdom is, obviously reducing the loan by half the interest rates means that if we continue to pay what we're paying, we could pay down the principal faster and pay the loan off and have less interest. But at the same time, there's that balance of, okay, but we're going to get a new 30-year mortgage. And, you know, at this point, do we want to go that direction? Any thoughts there?

I have a lot of thoughts. Yeah, that would violate for me the reason why you'd want to get a refi. You know, I'd want you to cut the interest rate by at least a point, hopefully a point and a quarter. I would not want you to extend the term one month if you don't have to. And I'd want to make sure that the expenses are no more than 2 to 3 percent of the loan value of what you're refinancing. The reason they're trying to talk you into a new 30-year mortgage is because they're going to make more on that loan because that interest rate, you know, even though it's lower than what you have now, is going to be spread over 30 years.

Now, you're right. You can accelerate that and you can, in effect, say, run me an amortization schedule on this 30-year loan with a 10-year payoff, and they tell you exactly how much you need to send to make it a 10-year mortgage, and you could do that. My problem with that is, you know, typically folks, when they feel the squeeze, will revert back to that scheduled monthly payment and end up paying on it longer. So, I guess the question I would ask is why not go for a new 10-year mortgage, which instead of just under 4 percent, you should be able to get at around 3 percent or even sub-3 percent. Have you looked at a 10-year? I have not, and that's why I'm calling in. Yeah, this loan, since it's with the lender, they're basically saying, hey, you know, no closing costs.

You don't have to send anybody out to look at the house and do anything. We're willing just to, you know, you sign the papers and we'll do it. And, you know, while it sounds good, I'm needing some advice. Well, and I think that's the key.

Now, here's the thing. At the end of the day, as long as you're disciplined and you're comfortable with, you know, making sure that you're going to take this 30-year and turn it into a 10-year by sending enough to pay it off in 10 years, that's okay. But ultimately, it comes down to what's the total amount of interest you're going to pay and what is the cost for the refinance. So, I'd ask them to give you their best offer, ask them if they'll give you a 10-year offer as well, and then go get two more quotes from other lenders, preferably online banks at bankrate.com.

And let's compare a new 10-year note under 3 percent, hopefully with low closing costs to what they're offering, and find out which one is going to save you the most money. Stay on the line. We'll finish up off the air. This is MoneyWise Live.

We'll be right back. Welcome back to MoneyWise Live. You know, our team spent years developing the MoneyWise app. I think it's the best money management system on the market, right in the palm of your hand, and you can maximize the MoneyWise app by being a pro subscriber. Right now, there's a special offer, the lowest price we've ever offered to become a MoneyWise pro subscriber at moneywise.org slash pro. That's moneywise.org slash pro. When you're a pro subscriber, you can connect to all of your institutions, download your transactions immediately, instant and intelligent categorization, unlimited categories. You get all the reports and priority support with one-on-one meetings and messaging in app. All of that's available when you're a pro subscriber.

It's a great time to learn more about it. Again, moneywise.org slash pro. All right, let's head back to the phones. Linda is in Illinois. Linda, how can I help you?

I have a question. I own several properties and I'm the only one that's on the mortgage. And I wanted to know, will it be feasible? Because I wouldn't want my children to go through probate just in case I passed away. So is it easy to put them on the title? Would that keep them from going into probate court? Yeah, it will. But I still don't think it's a good option.

And here's why. You know, if your children inherit the property, their basis, the cost basis on that property will be the current market value. It's what's called a stepped up basis based on your date of death, which is a huge benefit to them at sale time because they're not going to pay the capital gains if they turn around and sell it immediately. On the other hand, if you put them on the deed, their basis will be whatever it was when you bought the property. So for capital gains purposes, it's better for the kids to inherit the property to get that stepped up basis. If you would rather avoid probate, you can put the property or properties into what's called a living trust.

It'll cost you around $1500. You'd retitle the properties in the name of the trust and then the trust would determine how the properties are passed at your death or based on some triggering event. And that would happen outside of probate, which it sounds like is your primary objective. So I think where you need to go from here, Linda, is schedule an appointment with an estate planning attorney.

If you have one, great. If you don't, you could check with your church. You could contact a certified kingdom advisor in Illinois and ask for a referral. Every CKA would have a godly estate planning attorney that they work with. So I would go in that direction. And by the way, let me just mention on December 15th of last year, our opening topic was all on this subject of putting kids on the deed. So you may want to check that out as well. Just head to our website, MoneyWiseLive.org and search for the December 15th episode, Putting Kids on the Deed, or you could just scroll down and find it and you could listen to that. But does that all make sense to you?

Yes, it does. Okay, very good. So I'd get that meeting scheduled with that estate planning attorney and I think a living trust would accomplish what you're looking for. On to Spokane, Washington. Hey, Ray, thanks for calling today.

How can I help? I appreciate your show. I'm looking at changing job professions. Yeah. And I was wondering if there's like an online tool for looking at a lot of a wide variety of different jobs with the basic information that you gave at the top of the hour. That would be really helpful. Yeah.

You know, there is such a tool. Check out PayScale.com. PayScale.com. It actually shows the salaries for different jobs in different markets.

And I know Monster.com has a similar tool to estimate and compare salaries for jobs in various fields. So I think those two may be a great starting point for you to get you pointed in the right direction. Okay. Thank you. Happy New Year.

Yeah, same to you, Ray. Thanks for your call today. We've got a caller from Indianapolis. This is an anonymous caller. Go right ahead. Yes.

Thanks for taking my call. And I have a question about I'm a personal web identity of my husband's estate and there are no other heirs as far as his nephews and nieces. They are not considered heirs. Are they?

You know, it would be up to the probate court to determine who would be the rightful heir to the estate. Is there a specific asset you're wondering about? Yes. Okay.

Tell me about that. Well, he had two IRAs and it was one with an enormous amount on one of the IRAs. Yes. Okay.

Yeah. And was there a beneficiary named on that IRA? Not on the one with the large amount. That's what the attorney told me. There was no beneficiary. That's what he told me. I see.

Okay. Which is a good reminder to all of us to make sure we keep those beneficiaries updated on those accounts. That would be up to the probate court to determine, you know, the person who's legally entitled to collect an inheritance is dictated by the last will and testament. If there's not one, you know, heirs who inherit the property would be children or descendants, other close relatives of the decedent. So that would be the estate, excuse me, the probate court's decision ultimately if he's died and tested or if there's not a beneficiary name to determine how these assets are passed. So you would want to just work with the probate court to make sure that that is handled according to how the judge determines it should be passed and you're there to facilitate that. So I know this can be challenging, but I would, if you haven't already filed, make sure you do that on a timely basis so the probate process can begin and ultimately they will make that decision if it's not clear either through a beneficiary designation or a last will and testament. If you have other questions, you can also secure legal counsel as well and a state planning attorney can help you navigate this.

Never a bad idea to get some professional advice. We appreciate your call today. Minnesota is where Miriam is. Miriam, how can I help you?

Yes, hello. The reason why I'm calling is it's concerning timeshares. I was wondering if there is a safe way to get out of a timeshare. We bought one about 22 years ago and we paid it off. And I heard somebody say that if you refuse to pay your maintenance fees, then they have to foreclose on the property.

And I don't know if that's true or not. Yeah, so if you stop making required payments, Miriam, for a timeshare, you'll hear from the company. You'll hear from their customer service reps. If you have more than a month or two late, then you'll hear from a collection department. And if you still don't pay, your account would be typically sold to an outside collection agency that would hound you for payment.

And while all that's happening, the default will probably be reported to the credit bureaus, which would affect your credit score. So instead of defaulting, I would try to sell it. The best way to go there is to always start with the company that has offered the timeshare, the management company, to see if they'd be interested in buying it back. You could go to a, if you use the web, there's a forum online called tug2.com. TUG and then the number 2.com that stands for Timeshare Users Group.

And there's actually a marketplace there of people that buy and sell timeshares. That would be another option. You could look at just giving it back to the company and seeing if they would be willing to take it back just to allow you to get out from under having to make the required payments there, the annual fee moving forward. So I would begin exploring those options, but I would not encourage you.

In fact, I would discourage you from just stopping payment because that's going to require or result in a whole bunch of other things that will not be good in the end. So let's try to get this unloaded at the very least and preferably get it sold so you don't have to deal with this any longer. I hope that's helpful to you, Miriam. Let us know how it goes along the way. May the Lord bless you. We're going to finish today in West Palm Beach, Florida. Hi, Sierra. You're the last caller.

How can I help? Yes, I'm calling because I have some monies that I'm helping my mama invest in and I'm trying to verify what would be the best avenues. I was looking at switching monies for her from one account to another so that they were closer and easier for us to be able to manage. But I'm looking at it. The interest rates seem to be very poor in any bank that I'm going into.

So I'm trying to find out what would be some better options. She's in her late 80s. And now she has no additional income other than her Social Security and the small pension she has. All right. How much are we talking about investing? Well, right now she's got about, she has $19,000 in one account and she has about $9,000 in another account.

Okay. So about $28,000. And is this separate and aside from emergency savings that she has in another account? Well, this right now is what she has in our savings account. In addition to that, she also has some money set aside in an investment account with through like TDA for like 160. I think she has about $135,000 in that one. Okay. What does she spend each year?

I'm sorry? What are her total yearly expenses roughly? She really has none right now. She doesn't have a car. She sold her home. And other than a few credit cards that she tries to pay off every month, she's pretty good.

All right. We're about out of time. Here's what I would do. If she's got investments elsewhere and this is really her primary savings, I wouldn't put this at the risk of the market. I'd put this in a high yield savings account at Ally Bank or Marcus or Capital One 360. She's going to get a half a percent a year and that'll increase as interest rates go up and it'll keep it liquid and secure if she ever needs it. So that would be my best advice. Thanks for your call, Sierra.

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