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19th century preacher Charles Spurgeon once said wisdom is the right use of knowledge. I am Rob West. When we apply wisdom to our lives, our lives change for the better.
Nowhere is that more true than with money today. I'll talk with Ron blue about six life-changing bits of financial wisdom you need to know that it's under your calls at 800-525-7000 800-525-7000. This is moneywise live go wisdom for your financial journey will our guest's financial author and founder of kingdom advisors and my good friend and mentor, Ron, always great to have you with us Rob Goodby back through. I have moved from Atlanta back to Indiana and thought nothing. We miss seeing you but you're only assume call away and that's something we have become very familiar with these days. Ron, as you know, members of kingdom advisors go through exhaustive training to help their clients of why God's financial principles in their lives you've written most of that training material and I know you boiled it down in your teaching to six life-changing principles that everyone needs to grasp and I love to unpack those today the first of which is understanding that God owns it all. Why is that first on the list well or reroute everything flowed out of that you can't be a steward and let you know who the owner is the owner and Bible clearly states that in Psalm 24, one, which is one of many verses proclaiming God's creation and its complete ownership and comparable one third of the earth with the Lord and everything in it, the world and all who live in the fundamental beginning place on money management from a biblical perspective as you said, everything flows from that all right got owns all what's next. One time I was walking out of church.
Your financial advisor and you have to just make it. What would you left here and keep her longtime really is first money management principle is so simple, but you have to live within your income or you'll never have any marking in your life cover 1311 tells a newfound money criminals away, but whoever gathers money little by little makes a girl and if you don't understand management (you can't say for the future because there's no money left to great margin in your finances by living within your income and of course that makes perfect sense because it comes right out of God's word all right principle number three well, that should come as no surprise people that listen to this program and that is to avoid the Bible never says that borrowing money is a fan and there are times when borrowing may make financial sense. Maybe college education or Christian school education or something like that may Bible also never paints that in a positive light and often warns against number 22 says (that's what a lot of people don't like to think about this and that is the rich rule over the poor, and the borrower and lender enter no exceptions can be more clear so the next principle. Well, now that your understanding that your spirit and God owns it all in your living within your income.
Really, the first thing to do is to build some liquidity and an accounting term that could be a better background so that's my term. I'm sorry, but really what it really means is saving up for an emergency click through rate, go to the ant you sluggard consider its ways and be wise, it has no compounder no overseer or ruler. Yet, it stores a provision in summer and gathers its food at heart course we always advise having 3 to 6 months living expenses in that emergency fund in case of the unexpected started to grow up to number five. Ron well that you really want to say Bennett lifelong and that is to continue to set long-term goals so that you prioritize your spending. Now that you're spending less than your name yeah and that's key and then the final one. I know it's what your favorites well procure and that is to rejoice in generosity to follow all the principles you're very likely to be financially well-off if you will, compared to your contemporaries so generosity is a natural outcome of following his principles well, behold, loosely recognize God's ownership generosity is inevitable to follow behind it in a fitting way to end our time together.
Ron, thanks for stopping by and Rob think drafting financial teacher and author Ron blue was better yesterday. Your calls next.
800-525-7000 stay with us. Thanks for tuning in the moneywise live shows biblical wisdom for your financial decision. So grateful for my friend and mentor run stop by today could be that simple. Could it be that if we just live within our means avoid dad have some margin or liquidity and set long-term goals and give generously that we put ourselves in a position to experience God's best in this area. Financial management. Well, I think it is that simple when we look at the Council of Scripture of you do those five things and do them for a long long time doesn't mean you won't have some challenges that's not promised to us in God's word, but it does mean we can count on the Lord's promises to be true that he'll never leave us or forsake us in that he will provide for our needs and we put ourselves in a position by following his wisdom and principles to experience is best when we go through those difficult times, and we will and God's people need to come around us and help along the way. I believe even in those difficulties will be able to say Lord what you want me to learn and I can still live with contentment and will be prepared for the unexpected. Because we have that margin.
Then we can have surplus and build up reserves doesn't mean we depend on our bank accounts. Ultimately, our trust is in the Lord. But again, we put ourselves in a position to be able to ride out those storms of life and they will come about what your questions today were you struggling with financially. We love to be of help to you the number to call 800-525-7000.
That's 800-525-7000. Let's head to the phone sorter to begin today in Florida hi Charlie, thank you for calling. How can I help you sir called all get a little bit close to half $1 million and 88 he came to me and said you know what you know what I do. Well, you need to contact every really rich thing you got to help you because I can't tell you that I am who I would try to find some resources and so I went online and in cut defined though one of your kingdom.
Advisors couldn't get that information to come up. I made the call and then the screener for Thanksgiving with: let's talk about it. Maybe on the air so mild, my friend. You know he's 38. Mary, wife and child and one on the way he's relatively debt free. Have a good job making about 100,000 a year and he's just not in a position I think now where he could take this money and invest it in a wisely and in 20 years if he wanted to retire he could be. He could live on a credible retired life and even his children. After that, I don't know where to direct them or tell them which way to go so maybe somebody in your staff are Mike could give me some direction will be happy to give you some of my thoughts and then I do think connecting him with certified kingdom advisor would be key answers, not one in his immediate area. You could well I'll get your information or have my producer get your information and will reach out to you and if's. You'd like us to to him and see if we can connect him with somebody. I think the first time when were you when were receiving the windfall.
The first thing we need to do is first of all just recognize that it's God's provision and recognize the incredible responsibility that comes with it because we are now a steward of these resources.
Whoever decided to leave this inheritance to have made a stewardship decision to pass it on to him as the next steward and because he is married to he and his wife is one flesh. So acknowledge that responsibility doesn't mean we should be fearful or concerned that working to get it wrong or scared but I think it's important to say this is God's money and I want to be found faithful because it puts those resources in the proper context, which is God's.
The owner, I'm the manager in this money is a tool to accomplish his purposes. I think the second thing is to decide if any giving should take place. And that's not something I or you can tell him that's between he and his wife in the Lord, but I would be asking that question. I think the next thing you know, after you acknowledge your role and think about and pray about any giving is really then just to look at this money in light of your priorities.
The other tendency would be with a windfall like this to increase lifestyle spending automatically. You know so often as we get raises in a role as this was an inheritance which is little different, but our level of spending typically rises to our level of income unless we protest to the contrary in the same can be true with the windfall like this and so I think you're being mindful about that and praying and say Lord what lifestyle had you called us to it. If we have what we need right now there's no reason to buy a bigger home. There's no reason to buy a more expensive car. Perhaps we are right where we need to be, and therefore this money is then available to give to invest for the future. And then I think the step after that is really in light of that prayerful consideration and goal setting around the use of this money, whether that's to shore up an emergency fund or pay down debt. Whatever portion is going to be invested for the long haul is to get some wise counsel because you know anytime were talking about a significant amount of money to be invested in. This would certainly be a significant amount of money you know I think the Bible is replete with wisdom around seeking wise counsel having somebody who can walk alongside.
He and his wife to say where is God taking you and how should this be invested. What's the appropriate level of risk and then what is that portfolio of diversified investments looks like that matches that level of risk not to be your brother-in-law's inner returns down the street or in a bead and index per se but to really only take the amount of risk that's necessary to accomplish the goals that he and his wife have in the other benefit.
In addition to the expertise on the investment management that the advisor can bring especially a godly advisor who understands their values as believers is accountability and we can't hold ourselves accountable. So having somebody that's 1/3 party to say to the wife, what is this mean to you when you know what what you think about these decisions and then the same to the husband and then to hold them accountable to the goals that they've set now.
Those can change over time, but I think that's a really indispensable role and then I think the final thing would just be that they should be on their guard about perhaps people coming out of the woodwork's family and friends that know that this money has been inherited and whether they have good intentions or not you know that what can happen is folks start saying hey can I borrow some money. Can I you know, can I have some money and you know that can cause a strain in relationships and that's one of the benefits of having a plan and getting it in place and invested in you know pay down the dad and do the giving.
Because then that monies not just sitting there were folks can say you can you help me out with this, and they may decide to do some of that but you know that can also cause strain relationships as well. And that's where plan I think can really help to avoid some of that so those would be kind of my thoughts on where he goes from here how you might counsel him last thing I'll say is above for you when were done here today to hold on the line and in addition to us getting your information to connect you with an advisor like to send you a copy of Ron blues book, master your money. It said it was started the program today talking with Ron, this is really just such a great overview of God's word as it relates to all the financial decision-making areas and I think as he reads through it.
Perhaps now with a fresh vision. Knowing this money has been entrusted to them. It'll give them some real confidence to know that he is handling this God's way. Charlie tell me your thoughts on that likely Rob that's America Nevada. I think I was in. 20 good directions about what I'm on track him on track here, but okay. Well, it's that giving them the goals were ahead put much thought into it. You know, I know giving as part of their you know their daily routine, but how much know that a gift is something we need to think about. But, and we are trying to keep it on the very much at download when I think we can send it needy people don't come out of the woodwork benefiting so but I appreciate it so much. I think I didn't have the resources but I knew enough to be able to make some calls.
In addition, research that might could find the answer form so it looks great. I appreciate your help today, when I'm delighted that you're there to walk alongside him as he thinks about this responsibility and it's a privilege and honor to manage's resources for the King of Kings. We all want to get it right. I think also just finalize one more thought to wrap this up would be this really underscores the need Charlie for them. He and his wife to be thinking about finish lines guilt we want to set financial finish lines, both with lifestyle. We talked about that but also also with our balance sheet on the accumulation side. What is our ultimate goal in terms of what we want to say we don't just save for saving sake and just to build bigger barns.
We saw that that individual in the Bible was called the rich fool right so we want to set reasonable goals for accumulation that makes sense.
And when were on track to achieve those that gives us even greater flexibility for more giving both now and in the future. So beginning to think through that with a godly advisor I think would make a lot of sense, so we appreciate your call today very much. You hold the line will get your information get you that book from Ron blue right in the mail again. It's called master your money and then will get your information. If we can help connect you with the CK that you could pass on two or three. Certainly this is moneywise live biblical wisdom.
Your financial decisions.
We come back with talk about buying a piece of property to turn into an Ambien will talk about retirement and paying off credit stay with joining us today on moneywise live on the West Coast along with us today to lines open 800-525-7000 will have back to the phones in just a moment but first I to become a financial partner of ours here at moneywise media we do what we do each day is a direct result of your support. We are in fact listener supported.
So if you consider yourself a part of the moneywise family. We didn't invite you to be a giver as well.
You can do that quickly and easily online moneywise.org just click the donate button. When you do, you can give online securely. You can mail a check in you'll find an address there or you can call the toll-free number. Talk to one of our team members and they will help you facilitate that giving as well. Whether you become a monthly partner or a one time giver would be grateful for whatever you can do beyond the giving your local church again moneywise.org just click the donate button and all the details will be there all right in just a moment will be in Indiana, Michigan, in Missouri, but first the beautiful Great Falls Montana. How can we help Hillary's are calling young family growing family that hang out while he had the money elsewhere. We have no debt next door is an empty lot sale and were considering taking out a mortgage on her home to building either work hailing like this are not clear whether that the white to do well and I think it's when you want to proceed with very carefully for sure. You know, as we think about taking on a business and that's essentially what this would be. We want to make sure that our personal finances are prepared for it. We got a good foundation under us being out of debt is certainly one of those checkboxes and you've checked out when and that's a great thing.
Making sure you have proper reserves that you've got fully funded emergency fund that you got income that to the best of your knowledge is is reliable and will support you because if you're going to take on debt of any kind to start a business. Whether that's to build a piece of property to rent it out or to buy a business or franchise.
Obviously servicing that dad is going to be key and you things are good right now in terms of the economy and consumer demand, especially as it relates to your vacations. Now that were Lord willing, kind of emerging in the next several months from the current state of the pandemic moving, perhaps more toward an endemic you were seeing people get out and travel would get up a strong real estate market. But what if a couple years and now we were to get into a recession, you, what would that do, and the extent to which are having to service debt when perhaps you don't have as many folks coming through and occupying your air B&B. We just want to make sure that you never put yourself at risk.
So you know, the one red flag I would hear about this as you describe it Hillary is that you are taking this on your personal residence.
I'd love for you to separate this from your domicile, if possible. What you mean, you could get a construction loan that would ultimately be collateralized by this new dwelling which allows you to keep it separate from your personal finances. So if something were to happen, unforeseen, and you were to lose this home you're not putting your personal residence at risk. I realize the downside of that is it's good to be a bit more expensive because you're not gonna be able to enjoy as good of an interest rate on a home that's not your primary residence. Second thing is, I'd love for you to ultimately have no more with an investment property than 50% loan to value which means you may need to save a bit longer before you do this in the benefit of that is, it just keeps the debt service manageable. So if you got into one of those difficult spots where you didn't have it occupied as much in your perhaps there were periods of time or you didn't have anybody in there.
You had some repairs, although with the new place.
You shouldn't have much it would take some of the pressure off where you hopefully you build up quite a bit nasty reserve account by only having to service the 50% mortgage loan to value that would help you versus having 80 or 90%. Beyond that, I would just want to make sure you've done the research to be sure there's enough demand that you know what that looks like and then finally, do you have the time to spare to run it. I got some friends who do this as a full-time business that they have multiple properties that it can take some time so you just want to be honest with yourself about what that's going to do your quality of life and whether you have the time, but as long as you prayed through it. You thought these things you done your research and if you like your finances are ready for special you could separate it from your personal home and I would say there's nothing that says you should depreciate positively come back more of your questions right moneywise.
Thanks for joining us today on moneywise live biblical wisdom for your financial decisions taking your calls and questions one line remaining open 800-525-7000 went right back to the phones or just a moment. Have you done the moneywise app. If not, would love for you to check it out just had a readier app store. The Google player the Apple app store and search for moneywise biblical finance what you find is the ability to access all of our great content from 15 content providers the best in leading voices in Christian finance today. You'll find broadcast archives from this radio program you can listen on the go are moneywise community where you can post questions and get answers for moneywise coaches and our money management system where you can choose the system that works for you whether your hands off her hands on detailed or directional. We got a system that will fit your needs.
We designed it so that it can really work most effectively for how you want to handle money, including downloading all your transactions automatically having them categorized for you. All of that functionality is there. It's the very best digital envelope system I've ever used. And it's all in the moneywise app so I'd love for you to download it today if you want to learn more. You can check it out on our firstname.lastname@example.org back to the phone. St. Louis, Missouri hey Max can help you yes I'm trying to figure out one should really retire and then do I have enough to retire. I am having Dave. My wife is several years younger, she is already retired. We have both activated Social Security and we have a couple small engines coming in. We have an emergency fund in about 10 months. We thanks to God's blessing to get about 15% of gross Christian organizations.
I'm still working three days a week and would really have to be replaced as my current salary and currently I less near show I listen to show my one place.
I asked sure yet if and so you talk about multiples and not roughly market goes up and down that we have about 18 eight any multiple of 18 my current salary something I have enough to retire.
But the question should retire, and I have a couple other questions shorts love the retirement guide conversation is both financial and nonfinancial, of course, of the financial side is pretty easy to calculate in the sense that we want to determine and says I give a pretty good handle on this, exactly what are our lifestyle needs. Was it take to fund our expenses on a monthly basis and then what income sources do we have. It's easy to figure out what your pension checks are in Social Security. Great to hear you're giving regularly got a healthy emergency fund and then you've got this so these in investments or savings that you've you've put aside and then the question is, you know what kind of rate of return would we need to achieve on that to offset whatever gap exists between your living expenses and what your bringing in from guaranteed income sources without working and then just see whether that's reasonable to expect that we could offset that by not taking an inordinate amount of risk such that that account could sustain you throughout the rest of your life and forwarded Terry and you live to be 100 years old or more, and I realize that means. This money is the last decades, and that's why we want to make sure that we are outpacing inflation and we got some growth component to it, but were not taking unnecessary risk. But what is that amounts Max that you would need to bring in each month. If you stop working or yearly, without back 6000 a month, not including such area pension shall be the replacement of the salary since okay so my working three days a week you're bringing in about 6000 a month. Currently right. I think that a multiple of 10 adequate 10 to 12 times would is usually not because keep in mind most folks you live on 70% or so of their pre-retirement income and then when you add Social Security and other sources. A lot of times that you will do it. How much do you have set aside in an long-term savings to you. If you don't mind me asking that a man and 1/2 okay alright so if you were to what is that currently in is in a money market or is it invested.
I've always believed in five investments learned that a long time ago.
Well, so that's great in are you doing that yourself or you have somebody managing that for you.
Please stay with Fidelity and Vanguard Sears and index funds pick pick pick pick pick up on their some I don't have a but there there long-term midterm short-term times and then there's large and small Value every year. It's roughly the breakdown between the bonds in the stocks well.
We had a 50% and tested a small interest account account I wanted to shelter it from the market when I hit 6566 so.
But the rest of it is in pretty much 100% stocks and again it's the diversified long, large and small cap value growth funds with Fidelity and Vanguard gets the key here is just comparing what you got the roughly million and 1/2 you we typically use that 4% number. Some folks think you should be billed to get a little bit more.
Others want to be a little bit more conservative, but that you've done the math, I'm sure that would throw off about 60,000 a year or 5000 a month. Not quite the 6000 a month you're looking for. Which means you'd have to probably bump that up to you know about 5% a year in order to offset what you're bringing in currently.
If you were to stop working and then the question is how do you go about that. What's the appropriate level of risk to take.
Given that meal we had a really strong market for the last decade.
Certainly the last couple years, but even the 10 years before that and it would got some challenges on the horizon now could we rollover cyclically could.
We had a recession here. What about inflation and got rising interest rates.
The feds making some pretty significant changes versus what they have been doing the last note since 2009 the house. I can no effects of the market return.
So it's good to be choppy and I think you know the key is whether you pay your comfortable continuing to manage it and be are you willing to absorb the downside by being perhaps a little bit more invested in stocks and I would typically want you to be with this kind of portfolio, especially if you stop working, I'd probably like something more like 30% in stocks where you know not quite 50 because we were to have a significant decline 2030+ percent. You know what would that do to your peace of mind and would you be willing to whether that enough paper loss without feeling like you need to make some changes that type of thing.
So I think that's the key. It all comes down to what is the right allocation, and who is making the buy and sell decisions. And that's you really going to govern it as to whether nonfinancial you should retire. I think that's a conversation between you and your wife in the Lord. How does he want you to use your time literacy leaning all of these things I think are important to consider.
So I think you got to know some things to think about pause for a brief break but maximum to talk to you just a bit more off the air because some this is just a lot of fun to think about vibration folks moneywise live with us today moneywise live around West euros take your calls and questions on anything financial that's it right back to the phone's been has been waiting patiently in Michigan. Ben Hogan helps her my call.
I'll try to make it simple possible so I worked myself a little bit of a mess. I have a high of about $50,000 in credit card debt. I do have a rental property and it generates roughly 2700 $2750 a month and I'm just wondering if something I should spell to pay off credit card debt the other side of that with my job I make that about $2700 a month so if I were to sell the property. That would cut my income in half but eliminate a lot of debt and so looking for some wisdom sure to run back through some of these numbers again real quick. I think I got some of that you have 50,000 in credit card debt and use of the property is worth. How much about 365 and what you owe on it I owe. I have $65,000 on the mortgage and then there's a $50,000 equity line on it as well. Okay see you about the hundred and 15 on 365,000 so you could walk away with 250,000 if you were to sell it and you say you're generating help, how much, and obviously less expenses because the realtor and so forth. But how much are you generating in free cash flow on this property each month that's 2750 a month. Okay see you drop 2750 in income and what are you paying right now to service that 50,000 debt by just a minimum 500 amount okay across all of it, but 1%.
Alright you I think that's the first question is just recognizing that loss of income in, how you would write size your budget. As a result of that. I guess the other question is just where did this debt come from in the first place was just over time with lifestyle spending or was there one major event, not just mismanagement. Yeah, because the pay is much as I'd love for you to be able to wipe this out and that may be the right decision that we have to recognize that at that point you would you be able to absorb the loss of income with you know if you were to take 500 a month you're no longer paying the credit cards.
Would you be able to absorb the $2200 a month hit to your spending and still be able to balance the budget have a significant lower monthly payments, but he had since law I'm looking long term and you know obviously holding onto the rental property. It's good long-term. It appreciates with the market but also the stress of the debt. I totally get that. I think the other thing is just looking at what other options you have.
Let's say you were to keep the rental property with the 2750. Do you have any margin over and above the minimum payments that you could use toward debt reduction. Not really because I live in a kind of paycheck to paycheck. So I think the key is, you know, first of all, we've got a really be convinced that you've solved the problem that led to the debt in the first place, which means whether it's the current budget including the rental property income and ordering your finances around that, or the new budget which is $2250 lower be based on my math because it is no longer of the 2750 coming in, but you also don't have the 500 a month going to the credit card so you lost net net 2200 a month in income and how you can make that up when you're already living paycheck to paycheck with the only way you do it is you have to pull it from the $200,000 that you have left meal after you paid off the credit card debt, or, roughly, and I guess the question then would be. Can you write size. The budget bring spending down can you look for other sources of income to you increase your income over time. I think that would be key before you do anything is to make sure you have a plan that's ultimately going to allow you to balance the budget so you not feel pulling from reserves and you're not accumulating more debt over time. So what I would encourage you to do, Ben. Let's have you connect with our friends.
A Christian credit counselors.org. If you're open to it, build do a budget with you. Talk you through all of your options. Look at what they could get these interest rates down to you know in a debt management program and run a scenario that says here's how long it would take it take you to pay it off and then once you look at that and I think then the question is you know is that the best option or do we just sell this property, wipe it out and then either invest the proceeds or by a smaller place for cash.
You know, or by another smaller place that you know is going to have the same or similar. In a type rental income that's going to help offset whatever need that you have. But let's start by looking at our options first before you make that decision on the debt management so I reach out to our friends again Christian credit counselors.org.
Have them analyze all of this into your budget and then we'll see what recommendations they come back with. If you have questions. At that point, don't hesitate to give us a call back, Franklin, Indiana hi Doug, thanks for your patience. How can help you. Thank you very much appreciated my call.
I'm contemplating retiring and I'm 64 years old right now and I have a company pension that I have the option to take lump sum or take a monthly monthly payment, which if I did that I would want take 100% joint survivor payment and that I pretty much decided that I would go with a lump sum but I also thought I might work through this year until I was 65 because of insurance cost and I know the feds are talking about raising interest rates and I talked to my tax guy and if they do raisin like .253 times this year, figuring on maybe a three-quarter percent raised by the end of the year that lump sum will the value of it will decrease between the fingers came up to be between 24 and $31,000 so I I didn't know it taking that I hate that to continue to work and lose that amount in this next year if the rates to go up like that and I was considering what may be because of the market situation with the market right now is not particularly great.
Last few days anyway. Should I maybe consider taking the monthly payout listed yeah yeah yeah it's it it's a tough decision, and it can be complicated to just figure out based on what's known and unknown what the best course of action is to maximize this asset that you have.
You obviously just have the monthly payout gives you the guaranteed income. Were you don't have to worry about market your losses and if if that amount with survivors benefits for your wife solves for any gap that exists between your expenses and other income sources that you have. It may be worth it. For that reason just to give you the peace of mind to know that for the rest of your life. You've got this your money coming in. That's gonna meet your obligations to the benefit of the lump sum if you, the internal rate of return calculation is is right and meaning you. You have the ability to generate as much or more, with a reasonable amount of risk being taken, then the benefit is you get access to the money if you needed larger portions of it for medical expenses, long-term care, things like that as opposed to just being able to get the monthly payout but you assume the risk of the market fluctuation. If it's no invested at that point and then you have these unknowns about rising interest rates and the impact of that with working for another year or so. I think it probably makes sense to go ahead and make this decision sooner rather than later. Given what you described about what you're going to give up. Given the pretty much certainty of where rates are headed based on what the Federal Reserve is saying that, but I'd love for you to connect with an advisor that can really process this for you in greater detail to actually take the data that's being provided by the HR department help you calculate, the benefits of taking it now versus waiting in the lump sum versus the payout actually look at your budget. Your other assets and just really help you process this and think through if you were to take the lump sum what you gonna do with it and would you be able to generate the amount of income that you need long-term without taking a nice unnecessary amount of risk. This is an important enough decision Doug, I think you really need to take your time and get some wise counsel so I connect with a certified kingdom advisor there in Indiana you can do that on our website moneywise live.org just click find a CK. We appreciate your call today builders in Port St. Lucie held. I apologize.
I have just about a minute left understand your thinking about solar panels on the company happen to be thunder energy is no out-of-pocket cost, no installation permit warranties anything and looking at what they showed me would be paying a predictable amount of 222 Vermont last like the last 24 months. I would say that I was averaging about like $330 per month so that you 22 seem thinking that it open $100 savings of court 25 years and they take care of everything. Warranties with damage that hurricane paying a 10 year roof penetration and leak warranty. If I move it as I was planning to do its transferable so because meeting finance only because no finance is a 25 year 20 is no financing that's not typically how it works and so I would just make sure you get all of those details in writing and look at the fine print and understand what happens if you move most people only staying home is an average of seven years, so what happens to that if you move and are you obligated then to pay off the remaining balance that's there. Look at all of those things and much more.
Before you make this decision is not as a partnership between the wise, thinking of Melody and Jim for their credible work today. Thank you for being here as well, unless you will see you next