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Are REITs Right for You?

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
May 2, 2022 5:00 pm

Are REITs Right for You?

MoneyWise / Rob West and Steve Moore

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May 2, 2022 5:00 pm

Real estate not only can give you an income stream, it almost always appreciates in value. So, is there an easy way to invest in it without becoming a landlord? On today's MoneyWise Live, Rob West will talk about a “hands free” way to invest in real estate. Then he’ll answer your calls and financial questions. 

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Revivalist founder Dwight Lyman Moody once said, we walk in the wilderness slug mission to share the gospel of Christ finds opportunity with a charitable gift annuity to benefit provides lighting him with the remainder supporting the work of the Bible Institute to find out much more calm 100, 801-2171, 800-0121 71 if you're old enough to be on someone's mailing list. You probably received those offers for free or very cheap vacation if you just listen to a presentation on whatever it could be a timeshare or multilevel marketing program or someone trying to sell you a new vacuum cleaner. Well, you don't have to pay that kind of price to still have a nice inexpensive vacation hello travel junkies everywhere exploring the world or just the world next door doesn't have to break the bank to help us discover ways to vacation on the cheek as our own cheapskate traveler Rob West later he'll be taking your calls on any financial topic at 800-525-7000 800-525-7000. I'm Steve Moore with passport in hand in this is well Rob, we've touched on this topic for when we talked about steak, Haitians, meaning stay at home, or at least nearby, and explore things you may have never done before in your own hometown that's exactly right. And by far this is the cheapest way to take a vacation. Think about it. Nearby museums perhaps historical attractions. It's crazy, but folks often ignore hometown treasures that other people traveled to get to the grass probably isn't greener on the other side, so don't miss those not consider spending a relaxing day in a nearby park or even a nearby campground. Steve I know you're not a big camper. Your idea of the camping is the Marriott right well Marriott express okay express I'm not that I'm ready to I got it all right that we do like getting out of the great outdoors putting your tent up and having some fun. But perhaps you let the kids bring along a friend or two. First about it fun. Take some outdoor games to play in after little while. They won't know or even care where they are and neither will you.

The change of setting can refresh everyone. Even if you're just a few miles from home and I but we we also want to talk about ways to travel more cheaply if you decide actually get outside the city environment there I and you and Julie and your family have done this a bit.

I'm talking about about cheap and often better alternatives to hotels, things like the RBL air B&B so explain how those work and how they work for you guys yet. I have worked well for services like air B&B in the RBL offer a community where hosts with an extra room or perhaps an entire house or even some unique accommodations will come back to that I can connect with travelers through a trusted platform.

The genius in this is the easy search the detailed reviews and profile so you know what you're getting from others who abstain there as well as secure payments for you to actually pay for your time there and even customer service to back it all up. Now you can actually save a bunch of money, especially if you have a large family and this is where we've really used it because we have six of our family. We typically have to get to hotel rooms when we travel the nice part of air B&B or V RBL is that you can often find an entire house or apartment for the same price as you would for two hotel rooms and often Steve you'll find some really unique places. There's even an air B&B here in Atlanta that's known around the world and it's actually a treehouse. Really it is there that we have become quite famous actually. There is, it glues that are on air B&B all kinds of things that you're looking for a little adventure that might add to your vacation as well. I'm sorry that's dumb I'm not staying in an igloo. I know Marshall tree house, maybe house maybe but not nothing will get what one final thought about paying for vacations.

Don't use you know what to say.

Don't use credit to pay for it. Make a vacation budget and then pay with cash. If you do have to use a credit card and only a minute, many people do only use use the card for what you've already budgeted for for the vacation wow that's exactly right. We certainly don't want to go into debt for it and if you could be flexible in your travel dates. Steve you can really save a lot of money there some great websites out there. I jot these down just like it sounds and also travels and others will allow you to sign up to be notified when great deals to your destination become available, and if you can move quickly and perhaps be somewhat flexible. This might help with the cost of getting you there and actually staying there. Once you arrived. We got some other tips and cost-saving ideas to share as well.

Maybe after after the break in a few minutes. I will do will do that kayak is interesting. You can use that site.

If you want to travel to your igloo one would presume 1-800-525-7000 as a phone number if you'd like to speak with Rob Weston moneywise live will be right back. Would you like your life to be infused with joy. Would you like to interject an eternal dimension into even the most ordinary day, author Randy Alcorn says you can when you discover the treasure principle in a concise powerpack style is newly revised and updated book offers a six step plan to finding the immediate pleasure and eternal rewards of the treasure principle and what you discover. Life will never look the same treasure principle is available when you click the start button moneywise God cares a great deal more about our money than most of us imagine.

In fact, Jesus is more about our use of money and possessions and about anything else, including both heaven and hell in managing God's money, author Randy Alcorn breaks it all down in a simple, easy to follow format that makes it the perfect reference tool if you're interested in gaining a solid biblical understanding of money, possessions and eternity managing God's money is available when you click the start button moneywise window screen was manager of the New York Yankees baseball team. He hung a sign on the wall of the club spring training facility in Florida that read the will to win is not worth it unless you have the will to practice. We often think of the value of practice when it comes to athletics or learning a musical instrument practice also applies to the Christian life. The more we practice the disciplines of the spiritual life. Things like Bibles giving service more like there is no this is discover God's way.

Route 66. Writing the word start your journey home with us today.

I moneywise live where discussing ways to save some money on the family vacation. If you have any thoughts of you've done anything with your family that save you money but yet still was memorable and fun, memorable, and a good okay give us a call. We love to hear from you. 1-800-525-7000 year we began this topic Rob a couple of minutes ago mentioning that a lot of people grow up near something close by that they never go see that people from around the world to pay big money to come and see. I grew up 60 miles from Niagara Falls and that really is a world destination. People all over the globe. I never saw Niagara Falls until I was 23 years old regular 60 miles from that crazy.

That is crazy.

It was Jim but it was it was always just what you think, well, it'll always be there all right be there and and one thing led to another and we just never got this one out.

Now that you live in Atlanta. Have you ever been to the world of Coke. I've been in the world and I say that's worth a visit if you're thinking of Atlanta come to the aquarium, which is the largest query in the world and lots of other things as well and now will probably get a check from the Chamber of Commerce from a back rub. Any other thoughts about well non-monthly discretionary expenses which is often the vacation is yeah that's the category that this fits into Steve and I would add that when were doing a spending plan or budget, these expenses are often overlooked, it would be the annual vacation. It would be Christmas those things that don't happen every month but if you're not saving for them every month they come up unexpectedly while they're expected. But we don't plan for them and then we end up defaulting to those credit cards and so I would say be sure that you plan for your vacations at least a year out, and that you divide that by 12 and get it into the budget. Perhaps you even set up a separate checking account. You can often do, with no cost or savings account.

If you will do an automatic transfer right into your vacation fund. Do that for some of these items like Christmas and vacations and you'll be glad you did. Once that time rolls around.

Right. Let's go to our phones all Russ just popped in from Meadville Pennsylvania think he has some vacation suggestions or ideas. What do we have for us today.

Russ, in order to go on sure that on disability and it's almost 13.

Over the years. I don't want to miss all of his childhood now vacation time with them. So about every two or three years, we plan and we go on but I use credit because we have month-to-month pay what I used to make and so I was just wondering you know if you have to use credit or what you do. Yeah well it's a great question. Russ and I don't want to pretend that the situation herein is not challenging when you're living on a fixed income, especially in your situation. Being on disability income.

Having a child.

Obviously you have a responsibility to provide an you're doing that and I believe using these resources as a faithful steward budgeting them carefully to make sure that you make the decisions you need to make to be able to put food on the table and keep a roof over his head and be able to enjoy what God provides. It is very important and that's why there's nothing more spiritual, that of paying down debt or giving then there is taking a trip and enjoying the relationships God has given you so I would affirm that and I think as you know, and I well know with kids. This time passes ever so quickly and so we need to cherish it.

We need to lean into those opportunities we have to create memories. I would just say that I think we got, you know within the confines of what God has provided for you.

We just need to have a plan and I can't tell you what that plan should look like. That's really between you and the Lord but I think it does really require that we sit down and we actually write it out and develop that spending plan and looking over spending in each area and perhaps you do forgo certain things to be able to put a little bit aside each month. You know in not taking those vacations away, but really just figuring out how within God's provision. You can meet the needs that you have but also help take a trip every few years and and and plan for it so you don't end up with about your credit card debt on the backend. I think in these be a matter of prayer and it really has to begin with the budget is an extensible close to the Lord, but I figured that we go on vacation every two or three years and I'm back so that we can go on the next. I'd rather do that than skip vacation and end up going until he's graduating high school before leaving Barnett. I certainly get it and obviously you've gotten kind of into a cycle now where you pay for it upfront and you pay it off and then you pay for it upfront and you pay it off. Obviously ideally we would flip that cycle so we know we build up the savings and then we go. I realize your time is limited, and so you know that's why you're taking this approach I think ideally we would save and then spend that, but I certainly get the difficult spot that you read so I think you need to make it a matter of prayer. I really look at your priorities around where you're spending where you could possibly cut back and then enjoy time with your son Russ. We appreciate you sharing it with us.

Thanks very much. We wish you the best 800-525-7000.

If you'd like to join Rob West today and moneywise life State College, Pennsylvania.

Amanda, what are your thoughts today.

How can we help I would like.

I recently married and expecting a child and we afford a whole lot right now on, or under current income and are looking need to get a new house but were not quite sure where to start. Yeah well it I'm sorry going to a lot of lot of blessings and we are currently debt-free, but screen still at a kinda little point so yeah well it's a great time to be asking this this question Amanda and I think first of all your debt free, which means that your well beyond where the average person then is the average person right now is graduating from college lease last year with $37,000 in student loan debt. So the fact that you have no debt. Even that you're starting out in your living modestly in your living in a small apartment. The fact that you have no debt gives you ultimate flexibility.

So here's the priority moving forward. First of all we need to learn what God says about managing money and so that were done today.

Stay on the line that like to send you a copy of Ron blues Buckmaster your money so you can begin to understand with your husband what God says about how you should approach this very money management, beginning with you being a steward him being the owner and then moving right there through all the principles of money management, I'd like for you all to begin sitting weekly to pray to plan to set some goals and then to look at your spending. I realize it's fairly simple right now. That's a good thing. You know, as you begin to bring more income in it will get more complex, but right now you're kinda laying the foundation.

I do think setting those goals is really important. Perhaps that first financial goal is just to save up the down payment for the house and and that's really what you're focused on.

So if that's the case, let's do some forecasting to say okay, how many years as a gonna take for us to get that 20% down payment, how much house can we afford based on the budget we have today making sure that the the payment, including taxes and insurance is not more than 25% of your take-home pay and therefore how do you how much do you need to actually put away beyond your emergency fund of 3 to 6 months expenses to be able to make that purchase. Now, maybe that's a year or two or three down the road. Well, at least you know you have a goal that you're working toward. The other thing I would say is you know, other than living on that spending plan and saving for your emergency fund and then your your home down payment. Look at your giving and really think about what the Lord would have you to do now to begin to establish the discipline of giving of firstfruits giving percentage giving right off the top, but I think you guys are in a great spot. I'm excited for you as you move forward and experience all that God has for you and I stay on the line will get your copy of master your money to get you started. You made it will need to get your mailing address and will get that right out to you. Thank you very very much. You're listening to a moneywise live with Rob West, I'm Steve Moore were going to pause for a very brief break and will come back and take some calls.

We have some other vacation call suggestions coming up I think so stay tuned for that and more. After this I will go right back to our phones because we are discussing discussing vacation vacation topics wings to travel Rob any additional ways to save on vacation travel and throw out three ideas here.

Steve just real quick. I think as were looking to curb spending on vacation this summer. One thing to look at his credit card rewards. Now we talked about this extensively earlier this week. Be careful with credit card rewards only use credit cards for budgeted items. Pam off at the end of the month but if you're doing that and you demonstrated some discipline. I think we can really benefit from some rewards that come along with the use of credit cards number two travel during the off-season. I think that's where you're always going to get your most effective pricing for about airline travel as well as where you're staying when you get there and then if you can only pack a carry-on you know more more of the airlines now are charging for checked baggage is just an easy way is if you pack light pack and a carry-on you can save some money that way as well. You know I do that 99% of the time I see it as almost a fun challenge. Can I get everything I'm really going to need for this trip in one carry-on so that is not so wrinkle that I can't wear it when I get brighter but I know I really do see it as a challenge and I think it's something that you might want to look at if you find yourself checking luggage all the time paying those fees. 800-525-7000. Michelle is in Florida and has some of vacation suggestions for great Michelle would love to hear what your thoughts are today. What are her family. My mother and my top down now and we only got one, where there were. I love that Michelle you know we do that a lot with my wife's family will go and will will get a big cabin somewhere in the in the woods. We do this in North Carolina lot or down at the beach and everybody goes in together and it's just a lot of fun and you can save some money.

Do you have a favorite site that you used to to locate the properties to use the RBL rear B&B I know different providers, I love it.

We actually did this last year we took the whole family skiing in Colorado was the first time we had everybody out there and we went in with the some family members and ended that it was just a lot of fun. Great vacation to do as a group so thanks for sharing that that tip that's a good one great suggestion and so you had the whole family in Colorado last year so we are closing in on the glue thing is we are prone. There was a lot of snow but but knowing how time, there was a hug there you go.

Now were talking a Chicago WNBA and Diane what about you and your family. What kind of the arrangements. Have you made that maybe save a little money on a trip like that now go start I got look for something that they were prepared for me that we now talk more about different. Yes that's right love that Diane and here's the benefit there is that you know your your eyes are looking out you know.

So often today the kids when they're in the car just looking down at the screens will hear you might be driving through some of God's most spectacular creation and there's mountains of their snow or there's trees.

Everybody staring down. It's crazy. So if you have some kind of scavenger hunt. Are you looking for something or you know we played the tag game where you're trying to do the alphabet with the letters on the license placement. Whatever it is it gets the family involved. You had some fun and you mentioned stopping for food your Richar producer said that when they travel they would pack a cooler with food and eat at rest areas rather than stopping for fast food just to get out of the car and maybe save money. He also pointed out Steve that if you stay in an igloo you'll actually save on the cost of ice so you just have to skip that leverage probably recommended that now something that I know you've done, I've heard you would address it on other programs actually and that is you allow correct me if I'm wrong, you allow each of you kids on different days to choose the restaurant or something like that just of the third more involved in the vacation yeah you know it actually turned over on a for an entire month. We turned over our eating out portion of our budget to the kids to actually manage that for a 30 day period just to have some fun and they had a good time trying to decide where they wanted to eat and how they were to maximize the money but you can absolutely do that on a road trip as well that be a lot of fun and teach a financial lesson at the same time. If you say okay kids, we allocated this much money to eating out. While were on the trip you guys figure out how were going to use it. You could teach a valuable lesson there and let them have some fun and some ownership of it at the same time, and often it was mom and dad who decides whether it's Burger King or McDonald's or something nicer and I guess so you know, again you have the kids a little more involved in the vacation they feel more part of the family and is as if they count. If you let them make some of those decisions on a daily basis. Perhaps just a thought. Just a suggestion. And here's just our phone number 1-800-525-7000.

We love to hear from you. Call many people adopt an attitude toward marriage and finances that it'll all work out somehow. But sadly, it often doesn't financial woes can devastate a marriage but there is a better way.

God's way, money and marriage God's way by Howard Tate will help you discover God's approach to growing your finances strengthening your relationship with your mate and cultivating godly joy, money, and marriage God's way is available when you click the store and moneywise money and life run on the same track. Unfortunately, sometimes it seems like your money is heading in a different direction from your goals and never enough three keys to financial contentment. Author Ron blue helps you to break down all your financial options to a basic floor and then shows you how to keep it all chugging along in the right direction on the same track never enough three keys to financial contentment available when you click the store young woman hiking in the mountains was suddenly struck by a rattlesnake. One of her friends ran to the nearest camp and found a snake bite can't opening it up. She was shocked to find it empty.

Thankfully, they were able to get their friend in the hospital in time to save her life to realize that claims to be able to save your life really has nothing you trust in Jesus. Learn more. Our lives can symbolize that of an open or closed hand each day you when I have the chance to give of our time, talent will remain approach giving all of our financial decisions with an open join me, Steve Moore, my friend Rob West is gospel centered generosity looks like in action that's coming out next time I moneywise at 4 PM central on radio, this is moneywise the Rob West were taking your calls today on any financial topic.

We have one coming up about establishing credit flowing go there.

Rob were not to be able to get to Nancy today, but she's been on hold for quite a while and she looks like she has a real interesting suggestion. Can you name yeah we believe that great tips on saving money on vacation. She said when her kids were younger. They didn't have a lot of money but they would actually just pack the crockpot in the trunk when they went on for seven you know, O some things in there in the morning yeah and save some money by cooking. Maybe an all in one meal while you're traveling.

Also, another idea from Richie would give the kids the responsibility for the eating out while they were traveling maybe fast food and say if you guys want to save that money and not eat out. You can have it for spending money on the trip, which I thought was a creative idea as well. Well maybe take the money and got you guys have some things on the trip. Maybe so you like the crack crockpot idea. I think it kinda cool. And maybe, just maybe, you could plug it into the into the lighter and actually be cooking while you're driving in your math Roast in the car that just sounds awful actually smelling that made I'm sorry we ever even brought this Kansas City, Missouri Jeff, thanks for hanging in there buddy you what tell what's on your mind. How can we help guide and let you show all the time. Think about how you my my daughter 22 looking at renting she saw a place that you are interested in your property management company and I backed it on a couple places that are bite individual individual printing and linkage to go with the property manager part because of trying to establish credit sure answer. I'm not. I'm not sure what yeah it's probably not going to make much difference.

Jeff, here's what we know fair Isaac, which is one of the most popular credit scoring companies diverted probably mentioned this pico thing. Their spokesperson said at one point that less than 1% of credit files contain rental entries, so even if the company reports the rental information and in most cases they don't. But even if they do the credit scoring formula.

In many cases doesn't even factor. Then, depending on which score is being used so I wouldn't let that dry the decision I'd probably look for the property to rent.

That is the best fit for her in terms of location of the safety and aware of the locale where she's going to be in proximity perhaps to worker church and then of course paramount is whether it fits in the budget. I'd lead with that and not worry about credit. Now, if she is looking for a way to build some credit, she just starting out. She doesn't really have a lot of things being reported recredit file. One option that we recommended in the past. It works quite well as something called a secured credit card so basically she goes to her bank or credit union.

She could put $300 or $200 on deposit they give her a secured credit card tied to the balance and then she can only spend up to that amount she pays it off and each month it's reported to the credit bureau and it removes the option to get in debt because you can only spend so long as there's money on deposit but it does create history there and build your credit file along the way we realize credit is being used for all kinds of things, employment, consideration, and insurance premiums and a whole host of things I see why she'd want to build it, but perhaps that's a better way than than than the rent make a good point there Rob when it comes to our credit reports we really do have to depend upon the merchants that were working with to supply that information. It's not as though information is out there and credit report land and of the various credit bureaus pull it down. It has to be reported by various people who collect your money right now that's exactly right. It's all about what's being reported to anyone of the three bureaus and then how the credit score formula that's being used. Factors that information in. Thank you, Jeff. 1-800-525-7000 West Palm Beach, Florida. Lisa, what's your question today for Rob West?

I will about yeah you tell me about the particular deferred comp that you have available to you at one of the parameters around you know how it you contribute to it is our matching involved.

What is been explained to you when I first comment so you can't contribute to before tax and you the whole idea and the reason is called deferred for deferred cup is that it's an arrangement where the employee's income is paid out at a later date beyond which there worker with the time that the income was earned so examples of deferred comps as you set her pensions and retirement plans. Even employee stock options would be a form of deferred compensation, so it's really just the the option that's available to you, but you know if if they are going to match. In particular, or if it's just going to vest over time based on you meeting a certain milestone of time with the company you know it's it's a great way for you to lean into long-term savings. Something else to consider depending upon what specifically availed available to you would be a Roth IRA, either in addition to or in place of the deferred comp program where you can have tax-free growth. You don't get the deduction, but it grows tax-free. Over time, so I would probably get a bit more detail on the plan to specifically what you have available to you if you don't understand it. Perhaps that you get an investment professional or financial planner to look it over explain to you your options and then decide which is good to be most effective for you and for long-term savings. So while you really like the Roth it's not necessarily the best for everybody all the time.

It really does have to be a looked at it in concert with the other possibilities right exactly and so it's it's really just a function of what you have available to you based on where you work and their approach to other retirement plan that's available ready Lisa, thank you for calling today West Chicago, Illinois. W MBI and Jackie, I understand you just got laid off.

I'm sorry about that, but how can we help you get about three weeks about now want my job and later that night amount back. I don't want to leave it don't work hard to make it out right now I do need a paint for my house. I will make it a lot and I'm thinking I could take some bear but I think I've been doing the 401(k) at my new job that I'm working part time right now, so I want to move the 401(k) and it can and on what side did with the money shot me today or am I able to lead yeah great questions. Jackie and I am sorry to hear about that but it sounds like you have found at least some work to replace that even if it's not read ultimately like to be a couple of things that you brought up number one is what you do with that 401(k). Well, you got to options and in most cases you can leave it right there and just continue to allow it to grow.

The other option is you can roll it out to an IRA or traditional IRA at another institution. The benefit of doing that is, in some cases, once you separate from the company. There's additional fees and so you might pay a little bit more in terms of the maintenance fees on that account inside the 401(k), which is just good to put a drag on the investment results that you're going to see inside the account. The second benefit is you open up your investment options when you get into an IRA. So if you went to TD Ameritrade or you went to go Fidelity or Vanguard and opened a traditional IRA rollover IRA and that money was sent to that institution. You would be able to invest in anything you wanted mutual funds or exchange traded funds. If you needed some help figuring out how to invest it. Our would be a great resource for you, but I really do like the, the option of moving it out to the traditional IRA as a rollover and then managing it there in terms of some repairs on your your property or other expenses. I would try to do what you can to not tap into that 401(k). If you're less than 59 1/2 you to pay a 10% penalty right off the top and I'd hate for you to pay that. Plus, it's good to be added to your taxable income so you can have to set aside 30% of what you take out right off the top, but even more than that. That money is no longer working for you for long-term savings to be able to have access to it.

Down the road when you're not working, perhaps in retirement. So I would consider rolling it out and beyond that, I would if you need some help.

Visit sound mind to check that out, and Jackie. We are glad that you got through today and I hope that information helps you. If down the road you still have an issue or concern. Feel free to contact us again.

Our phone number is 1-800-525-7000 will be read.

This is Max McLean.

Why should we give praises to the Lord. Listen to the Bible from Psalm 138. I will praise you oh Lord with all my heart when I called you and sent me. You made me bold and stouthearted all the kings of the crazy will know when the wounds of your mouth when they sing of the ways of the Lord, for the glory of the Lord is great. The Lord is on high. He looks upon the loan, the proud, he knows from the phone, though I walk in the midst of trouble you process my life with your right hand, save me from Psalm 138 listen to the Bible so comes by hearing able to hear the word of God and everything to hear more radio can help you with any questions you might have about managing your time, talent or treasures. That's what were all about the program's money wisely keys Rob West is the smart guy.

He's the guy you want to chat with 01 800-525-7000 Chicago, Illinois.

We welcome Linda hi Linda, thanks for calling today. How can we help you know you on what 401(k) on earlier you I'm kind of on what all the yeah well in the first moment to say that I'm I'm really sorry to hear that. I think you're doing the right thing in terms of really understanding what's out there, no matter what our health status is. We should know what we have and as stewards or managers of that you have a plan moving forward on the matter what life brings our way and you mentioned the syrup. He also mentioned the 401(k) surface for the benefit of our listening audience is an acronym for us what's called the supplemental executive retirement plan. It's basically a nonqualified retirement plan meeting. You don't get the deduction for the money going in, but it's a way that key company employees like executives can have benefits beyond what's covered in other retirement plans, like a 401(k) or a deferred comp plan. What you can want to look for is the parameters around the.

The syrup that that your husband has an and really understand what's there in terms of is it the defined contribution is defined benefit of their stock options, and just really understand what's there.

And one of the parameters behind which that money is then paid out once it is paid out, then it's taxable at that time. When you take that that that distribution with regard to the 401(k) you know it. It really just depends on his status. Obviously P separates from the company then that could be rolled to an IRA, regardless of whether you pass away first or he does at death the that the account would then be transferred to assuming your beneficiary designation was was handled properly over to the surviving spouse at that point, there are provisions for actually taking the money out without that the 10% penalty, but of course it would be taxable. So I think this is a time Linda for you to visit with a financial professional so you can look over all of your financial affairs.

Make sure you have the proper legal documents in place and everything from a will.

Perhaps a trusted healthcare. Sarah get the healthcare directives look at your retirement assets. Look at your spending plan. Look at how these things are being managed look at the tax implications and really help you just gotta think through that you will have a financial advisor that you use okay if you don't have one of those nuts about your church that you know you could go to moneywise and look for a financial or investment professional who has the certified kingdom advisor designation in your area. This would be somebody who's competent but he's also really committed themselves to being a specialist in a biblical perspective of financial decision-making and I think that be great. Next up for you Linda.

Any other question you might have that we can help you with that is great that they contact a financial planner or some sort through that hell yes thank you so much. You're welcome.

We appreciate you calling.

Thank you Linda S. 1-800-525-7000.

She's really asking all the right questions at the right time). She sure is. This is the time to do that. Anyway, we all could take counsel from Linda just in terms of being well planned so that we talked about this in the air the other day that is husband-and-wife week we may have one bookkeeper, but we need to know what's going on. Together we need to set our plans together. We need to know were important documents are. We need to have our legal affairs in place and we need to have a plan moving forward no matter what happens tomorrow or 20 years from now, Hartford city, Indiana Levi, thank you for holding Sir what's on your mind today.

Doing great Levi. How can we help you.

I'm a young guy meet the senior high school and you know all that goes on and on. I'm looking to save around $1000 and invest ready for me and so my goal is a statement about thousand and invest that.

But I'm just curious you know where what's a good thing. Invest in you know to get started and that yeah I leave. I love the tears starting early Yuri thinking about a summer job you're thinking about investing. This is all good. First thing I would say you need to learn God's way of handling money and so were done here today. I want you to hold the line will send you a copy of our Dean's book your money counts. This is going to teach you the biblical principles of how to approach money management based on the 2350 verses in God's word related to money and assets in and possessions so you can begin to understand God's heart as it relates to your money.

Second thing is really as you move forward, you know, we need to look at the various areas where you can spend money you.

You can only do four things you can. There's money to live on money you give money you owe money you grow right now you need to focus on the live area in terms of having a spending plan for what's coming in as you get your job I would start early and being the giver and and and give up on a percentage basis right out of whatever you bring in is your increase. Hopefully you don't have any debt done so I could do it so we take PO category out other than taxes, of course, and then the grow areas what you're talking about here and that is you have to put a little aside for just some some emergency savings starting to think about investing. You got a couple of options. If this was long-term money, meaning money you just wanted start socking away for the very you know for retirement if you will.

You can open an IRA at at Vanguard. A low cost provider for thousand was $1000 and put it in either an ETF or a good high-quality mutual fund. If you want to invest in a taxable account, meaning you wanted this money working for you I would want to make sure you have at least a five year time horizon that this is money you're planning on using in less than five years. It should be in the stock market, but if it's if it's five-year money or longer. I think you could absolutely start allowed to start working for you and you could open an account at Fidelity or Vanguard or TD Ameritrade and and again use high-quality ETF's to essentially buy the market so you're going to mirror the overall index you're getting a lot of those tech companies, but you get some financial companies and some healthcare companies and you'll really be well diversified across the, the investment universe, which is where you want to be. You don't want to put all your eggs in one basket and try to pick a company you want to put this in in the broad market indexes and just let it grow. So I think that's probably the next step for you and if you stand line will get your copy of the book I know what what book would you like to send now listen them your money counts in our day just to get them started in understanding God's way of handling money. Okay Levi was what's your summer job that you have in place already.

He works for surveying and engineering may hire guys.the summer I worked for last hire guys like summary notices summer help so see you out there that you bathroom standing in the field holding up polar something right now. They do the measurement hot.

I think then here's my mind.

The advice for you sunblock invest in some might be the best investment you'll make this year but a listen you hang and then I will get you some information. Thanks so much for calling and Rob always a pleasure is that yes sir. Thank you. They say financial woes can devastate a marriage but there is a better way and it's God's way of the book I like to mention to you today is money and marriage God's way, which offers lots of great practical biblical principles and advice to real common problems. You also read encouraging stories of real-life couples which will give you and your spouse an opportunity to discuss your own to discuss your own challenges and financial goals. So whether you're engaged, newly married, or maybe even empty-nesters. I'm sure this book will help you cultivate the joy God intends for your marriage and your money and I know that were in the month of May. So lots of people now thinking about getting married in June and July might make a nice nice wedding gift or perhaps a nice shower gift, something a little different. That'll have long-term impact money and marriage God's way you find it when you visit moneywise I.ORG will. Thanks much for being with us today and for listening thanks to our production team Rich Roswell Robert Sutherland Amy Rios Judy Krohn Chris Segar Joel Swan and Gabby with us today on phones thanks Great job.

Thank you for tuning in listing and calling moneywise and I was a partnership between woody radio and moneywise media for Rob West time Steve Moore will feel tuning again will do a better job next time I promise for Rob West time Steve Moore God bless thanks for

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