The Puritan poet Anne Bradstreet once wrote Wisdom without an inheritance is better than an inheritance without wisdom As Baby Boomers age it's estimated they'll leave a tidal wave of wealth to their heirs perhaps as much as trillion by But is the next generation ready for that wealth The Biblical Perspective on Inheritance Anne Bradstreet's wisdom likely stemmed from Ecclesiastes - highlighting wisdom's value alongside an inheritance This biblical perspective underscores the importance of preparing heirs with wealth and the wisdom to manage it Current State of Wealth Transfer PreparednessResearch indicates that while Boomers are poised to make the [... more]

You have to be at least to collect Social Security maybe because it takes that long to understand the program Do you have questions about Social Security Of course you do Who doesn't Well you don't want to miss today's program Eddie Holland is back to answer more of your questions about Social Security Eddie Holland is a Senior Private Wealth Advisor and partner of Blue Trust in Greenville South Carolina He's also a CPA a Certified Financial Planner CFP and a Certified Kingdom Advisor CKA Can You Claim Benefits Early and Switch Later You can claim Social Security benefits [... more]

Myths can be persistent things For a long time people thought the world was flat The investing world has its share of myths that persist to this day Rachel McDonough joins us today to go over myths about wealth that many Christians believe but shouldn't Rachel McDonough is a Certified Financial Planner CFP a Certified Kingdom Advisor CKA and a regular Faith Finance contributor Flat Earth and Financial MythsWhen your core assumptions are wrong your strategy becomes useless Imagine planning a voyage worldwide while believing it's flat you'd never reach your destination accurately Similarly in finance myths perpetuated by various [... more]

Train up a child in the way he should go even when he is old he will not depart from it Proverbs Teaching our children how to manage God's money is vital to raising them But how can parents do this well Brian Holtz will share some great insights today Brian Holtz is the Chief Operating Officer at Compass Financial Ministry and the author of Financial Discipleship for Families Intentionally Raising Faithful Children MVP Parenting Building Financial Wisdom in the Next GenerationIntroducing MVP Parenting a concept foundational for nurturing financial wisdom and spiritual growth in our children Howard Dayton defines [... more]

To design your ideal retirement you need to start with a few specific questions and if you're married make sure you do this exercise together In this video Peter Richon with Richon Planning and Erin Kennedy walk through what you should consider when answering these vital questions When do you want to retire Where do you want to live when you're retired How is your health How much could your Social Security benefits be Do you have a financial plan Because retirement is so much more than just a number in your bank account working with a financial professional can [... more]

We all want our plans to succeed but what does the Lord want Are you and God on the same page regarding your financial plans Today we'll discuss achieving your financial goals and doing God's will As avid planners we know that having a plan is the best way to meet your financial goals or any goals for that matter But how do you ensure your plans align with God's will for your life As Christians we believe that Jesus' plans are the best and the Bible supports this in Proverbs Many are the plans in the mind of a [... more]

According to some estimates the average household spends an astonishing of its food budget on eating out That's a lot to digest After housing and transportation food is probably the next biggest item in the budget It's also a place where you can easily make changes that will save you a lot of money The Cost of ConvenienceEating out is convenient especially for busy families with two working parents or parents shuttling kids to various activities However this convenience comes at a cost not just financially but also in terms of health Fast food often leads to weight gain and [... more]

From Jeremiah we know God's people should seek the welfare of the places and people around them But is seeking the welfare of our community something Christians can pursue by means of investing choices Today we speak with an investment manager who has been seeking the welfare of cities all over America and the world through his advocacy work with corporations As we will hear today investors can influence decisions made behind closed doors by corporations Chris Meyer joins us today to examine how this advocacy works Chris Meyer is the Manager of Stewardship Investing Research and Advocacy for Praxis [... more]

You've heard the expression Pennywise and pound foolish Here in the States we could say Pennywise and dollar foolish A good example is when someone is more concerned about the interest they're getting on their savings account than the interest they're paying on their mortgage Top Tips to Save Big on InterestWhen managing your finances shopping around for the best interest rates on savings is wise However focusing on reducing the interest on your mortgage can have a much bigger payoff Consider the total interest paid over a -year fixed-rate mortgage It's a powerful motivator to pay off your mortgage [... more]

What would you say is the most generous act of all time If you said The Cross you'd be correct Jesus gave His life so we may spend eternity with Him We must only have faith in Him as our Lord and Savior to receive this gift Art Rainer joins us today with thoughts on what the Cross reveals about generosity Art Rainer is the founder of the Institute for Christian Financial Health and Christian Money Solutions He is a regular contributor here at Faith Finance and the author of Money in the Light of Eternity What the Bible Says [... more]

Okay before we get into the specific money wasters there's a general principle you should be aware of if you're buying things that provide only a temporary sense of satisfaction you're probably wasting money It doesn't matter what it is if it's unnecessary and you grow bored with it it was a waste of money Check your closets for examples I'm not saying you should take a vow of poverty The Lord wants us to enjoy the resources He's given us but that must be tempered by the principle that we're merely stewards and must use His resources wisely Of [... more]

What should folks consider when making this decision People should consider the following when deciding when to take Social Security benefits Understanding that if they take benefits before full retirement age they will be subject to a reductionDelaying past full retirement age means receiving an annual increase of called a delayed retirement creditCash flow needs if retiring and replacing incomePaying down debtIncreasing charitable givingHealth and longevity in the family impacting how long benefits may need to last Legacy goals and inheritance as Social Security benefits can't typically be passed on while portfolio assets can beIncome taxes as Social Security could [... more]

Is your financial advisor truly planning for your future or just coasting In this video Peter with Richon Planning and Erin Kennedy lay out the five signs that your advisor is delivering genuine financial planning not just quick fixes A truly committed advisor will Help you define your goals and objectives Gather details on ALIE Assets Liabilities Income and Expenses Confirm your Social Security Benefits Request last year's tax return Ask for copies of Estate Planning Documents If this doesn't sound like your advisor reach out to Peter for a second opinion Just call - or visit www RichonPlanning com [... more]

In Luke we find Jesus rsquo challenging parable of the rich fool which concludes with an invitation to be rich toward God But what exactly does being rich toward God mean On today's Faith amp Finance Live Chad Clark will join host Rob West to explore this challenging yet life-giving parable Then Rob will answer your questions on different financial topics nbsp See omnystudio com listener for privacy information [... more]

PLANNING FOR THE FUTURE AND ESTATE PLANNINGProverbs highlights the importance of acting with knowledge in all aspects of life including the preparation for inevitable events like death This preparation involves legal financial and personal readiness to ensure your wishes are honored and your loved ones are cared for IMPORTANCE OF UPDATED WILLS AND DIRECTIVESHaving updated wills is critical to ensure your wishes are followed after your death with legal powers of attorney and health care directives being equally important An estate attorney is necessary to prepare these documents representing an essential investment in your family's future well-being PREPARING FOR YOUR [... more]

Dale Vermillion is the author of Navigating The Mortgage Maze The Simple Truth About Financing Your Home HOW WOULD YOU DESCRIBE THE CURRENT TREND IN MORTGAGE RATES Mortgage rates are stabilizing currently fluctuating around to expected to gradually decrease over the coming months Rates have become more stable recently bouncing around a consistent range Predictions indicate a potential drop below by the end of the year Stability and future trends are largely influenced by inflation and bond market conditions WHAT IMPACT MIGHT THE FED'S EXPECTED INTEREST RATE CUTS HAVE ON MORTGAGE RATES Though Federal rate cuts don't directly correlate with [... more]

You rsquo re nearly at full retirement age and still working But if you take Social Security benefits now will they be reduced because your income rsquo s too high On today's Faith amp Finance Live host Rob West will explain how much income you can make when you rsquo re already receiving your social security benefits Then he rsquo ll answer your questions on different financial topics nbsp See omnystudio com listener for privacy information [... more]

You rsquo re nearly at full retirement age and still working But if you take Social Security benefits now will they be reduced because your income rsquo s too high On today's Faith amp Finance Live host Rob West will explain how much income you can make when you rsquo re already receiving your social security benefits Then he rsquo ll answer your questions on different financial topics nbsp See omnystudio com listener for privacy information [... more]

DECIDING WHEN TO START RECEIVING SOCIAL SECURITY BENEFITSIt's recommended to delay receiving Social Security benefits until Full Retirement Age FRA of or as benefits are permanently reduced by about for each year you start taking them before reaching FRA BREAK-EVEN POINT FOR DELAYING SOCIAL SECURITY BENEFITSIf you delay receiving Social Security benefits until FRA it takes nearly years to recoup the money you missed by not taking benefits early After around age you'll be financially ahead each month for the rest of your life LIFE EXPECTANCY CONSIDERATIONS FOR SOCIAL SECURITYOnce you reach age the average life expectancy is for females [... more]

You've spent decades building your nest egg Then when you retire you need a plan to stop saving and start spending but not too much that you risk running out of money As Peter with Richon Planning explains to Erin Kennedy it's a delicate balance that requires you to consider these variables A Plan to Minimize Taxes Make the Right Decision about Social Security Benefits Choose the Right Pension Payout Balance Guaranteed Income and Long-Term Growth Plan for Longevity Account for Inflation Accounting for each of these variables will be different for everyone If you'd like to speak with a [... more]

Mark Biller is executive editor at Sound Mind Investing an underwriter of this program WHAT DOES IT MEAN TO ALLOCATE YOUR PORTFOLIO OR REBALANCE IT Mark Biller explains that asset allocation refers to the distribution of investments across various asset types like stocks and bonds Portfolio rebalancing is the process of adjusting the portfolio back to its target allocation This is necessary because different investments perform differently over time causing the portfolio to drift from its intended allocation Rebalancing involves selling assets that have grown beyond their target percentage and buying those that are underrepresented to maintain the desired risk [... more]

REFLECTION ON LAST YEAR'S PREDICTIONSBob Doll reflects on his previous year's predictions noting that while they achieved a accuracy rate it fell short of their usual mark The unexpected strength in the economy and labor market combined with a decrease in inflation led to deviations from their projections The economy was stronger than expected preventing the anticipated recession Inflation continued to decrease but did not reach the central bank's target of Stock market valuations increased particularly for a small group of high-performing stocks OUTLOOK ON THE US ECONOMY FOR THE UPCOMING YEARBob predicts a mild recession for the upcoming year [... more]

INFLATION FELL There's something you need to understand about the inflation numbers you hear in the news such as Inflation fell to last month on an annualized basis Some folks think that means prices went down but it really only means that the rate of price increases has gone down INFLATION'S PERMANENT PRICE INCREASES A decrease in inflation rate means slower price increase not price reduction Even if inflation drops to zero the high prices from past inflation remain WAGE GROWTH NOT KEEPING UP WITH INFLATION A significant portion of workers report their wages haven't kept up with inflation leading [... more]

WHY ARE BENEFICIARY DESIGNATIONS IMPORTANT Beneficiary designations are crucial because they're an easy quick and free way to transfer assets accounts and insurance benefits after passing away They take precedence over wills or trusts and are significant because they skip probate and remain private Beneficiary designations offer a straightforward method to transfer assets after death They are prioritized over estate planning documents and bypass the probate process Keeping them updated and accurate is crucial for ensuring assets are distributed as intended WHAT ARE THE KEYS TO REMEMBER ABOUT DESIGNATING BENEFICIARIES When designating beneficiaries it's important to consider various account types [... more]

If anyone does not provide for his own and especially for those of his household he has denied the faith and is worse than an unbeliever Timothy It's a pleasure to welcome Harlan Accola back to the program Harlan is with Movement Mortgage an underwriter of this program He is also the author of Home Equity and Reverse Mortgages The Cinderella of the Baby Boomer Retirement WHY ARE REVERSE MORTGAGES REFERRED TO AS THE CINDERELLA OF RETIREMENT PLANNING Reverse mortgages are seen as the Cinderella of retirement planning because they have been underestimated but hold significant potential for aiding in [... more]

The following is an encore presentation from Tithing is fairly simple in your working years Your only decision is whether to tithe on your net or gross income But tithing becomes a bit more complicated when you retire So we're bringing in an expert to help simplify things today on Faith and Finance Anthony Saffer is a Certified Financial Planner with One Degree Advisorswhere they've put together a handy resource to help you decide how to tithe in retirement WHY TITHE Let's start by laying the biblical foundation for tithing because some folks will argue that Christians today are no [... more]

Please tell us about your list titled Your Most Important Financial Moves for We want to help people choose the best ideas that specifically fit their situation So we discuss over suggestions in the article and encourage each reader to select their personal Top list We've found that those who go through this process of making a personal Top list and then follow through on those action steps become better stewards and make tangible progress toward their long-term goals These suggestions are broken into several categories Help us understand spiritual and financial fundamentals We try to set the appropriate context [... more]

The cost of living adjustment reflects another year of high inflation However we now know we'll be paying almost more for Medicare Part B That doesn't mean you'll see a smaller SS check in January but if you're wondering how this will affect you Peter with Richon Planning and Erin Kennedy walk through these questions -Does the COLA affect when we should claim our Social Security benefits -How does this jump in the cost of Medicare Part B affect my Social Security check -Does this COLA increase affect the program's insolvency If you have any questions about when you should [... more]

We want to thank the folks at the National Christian Foundation for a great article on an alternative way to give and a new twist in Here are some alternative giving strategies for those of you who might be feeling the pinch financially but still have a heart to support your favorite charities Drawing on insights from an article by the National Christian Foundation we're focusing on using your IRA for charitable giving Of course these are general recommendations and may not apply to everyone You should consult with your CPA for specific advice based on your circumstances Okay here [... more]

The U S has arguably the most stable stock market in the world but does that mean it rsquo s always the best Could we be shortchanging ourselves if we don rsquo t consider international investing opportunities On today's Faith amp Finance Live host Rob West will talk with Cole Person about the impact of international investing Then Rob will tackle some questions on various financial topics nbsp See omnystudio com listener for privacy information [... more]

AVOIDING RETIREMENT PLANNING MISTAKES The most significant mistake is not saving enough during working years A recommended practice is contributing - of income to a retirement plan like a k b or an IRA The earlier the start in saving for retirement the better due to the benefits of compound earnings Relying solely on Social Security is not advisable COMMON ROLLOVER MISTAKES TO AVOID Not adhering to the one-per-year rule for IRA rollovers can result in significant tax implications and a tax for excess contributions Missing the -day deadline for rollovers from an IRA to another plan can result in [... more]

Many retirees are surprised to learn that above a certain income Social Security is taxed In retirement it's important to know how all your income streams will be taxed and how to mitigate those taxes In this video Peter with Richon Planning explains strategies to Erin Kennedy Convert to a Roth IRA Consider Shifting Income Investments Delay Claiming Your Social Security Benefits Another strategy to consider is a Qualified Charitable Distribution Determining which strategy is right for you is a very personalized calculation and it's something we specialize in at Richon Planning For your detailed and personalized retirement tax plan [... more]

Do you sometimes feel you rsquo re spiritually at war with your own investments How do you take on corporations that engage in ungodly policies and practices On today's Faith amp Finance Live host Rob West will talk with Chris Meyer about one way to become involved in the companies in your portfolio through shareholder advocacy Then Rob will answer some questions on various financial topics nbsp See omnystudio com listener for privacy information [... more]

You pay into the Social Security system your whole working life but are you taking steps now to boost the benefits you rsquo ll be receiving in the future nbsp On today's MoneyWise Live host Rob West will share some ways you can maximize your social security benefits Then he rsquo ll answer your calls on various financial topics nbsp See omnystudio com listener for privacy information [... more]

BACK-TO-SCHOOL TAX HOLIDAYSNow obviously you want to make the most of your back-to-school money and that starts with knowing everything you can about sales tax holidays in your state Deadlines really matter and it seems like every state has set up different tax holiday periods In many cases these are set up as weekend events but not always Some may start on Friday and end on Saturday so you've got to know exactly when your tax holiday starts and stops In states with a sales tax this could mean saving anywhere from - right off the bat Okay so now [... more]

What You'll Need To RetireFolks always ask us How much will I need to retire And the answer is It depends One important piece of the retirement puzzle is How much are you willing and able to cut from your budget We'll talk about that today on Faith and Finance Many of the expenses associated with work go away when you retire Because of this many experts say you'll generally only need - of your working income when you retire The problem is many studies show the average retirement budget is only about of working income So if you're working [... more]

Divorce among middle aged couples is increasing In fact there's a new name for the trend grey divorce And according to the journal of sociology after a grey divorce women experienced a drop in their standard of living and men experienced a reduction Which is why Peter with Richon Planning and Erin Kennedy wanted to talk through some key issues you'll need to consider as you plan your new future including -Revisit your estate plan -Examine retirement and pension plans -Determine how your Social Security benefits will be affected -Consider health insurance and life insurance -Consider hiring a Financial Advisor [... more]

Have you ever wondered if the Social Security system will run out of money before you retire Or if claiming benefits as soon as you're eligible is the best decision for your financial future In this episode we'll be debunking common myths about Social Security and answering the questions you've been curious about Social Security will be one of the biggest sources of retirement income for most Americans and you need to be aware of these myths before filing for your benefits Most of the time once that decision is made you can't reverse it So let's make sure you're [... more]

We all have to make decisions about where we will give from our limited resources So a good question to ask is does it matter to God where we are giving On today's Faith amp Finance Live host Rob West will welcome David Wills to talk about if God cares where we give Then Rob will answer some calls on various financial topics nbsp See omnystudio com listener for privacy information [... more]

Since the start of the pandemic about of retirees between and have re-entered the workforce If you're thinking of going back to work or unretiring there are a few details you should keep in mind First you will not lose your Social Security benefits but they may change as Peter with Richon Planning explains to Erin Kennedy Also if you unretire you may have to keep taking RMDs and there may be an impact on your medicare benefits If you're thinking about going back to work it's certainly worth having a conversation with a professional to learn how it could [... more]

Retirement can come with a lot of tax questions and concerns From understanding the tax implications of withdrawing from your retirement accounts to minimizing taxes on investment income it can be overwhelming On today's episode we'll break down the top ten tax questions retirees are asking in Before you file your taxes and plan ahead for the rest of the year make sure to listen to this episode as we'll discuss some important tax questions that retirees should ask themselves to ensure they're making the most of their retirement savings and minimizing their tax burden Here's some of what you'll [... more]

MWL record start record start record start record start record startSee omnystudio com listener for privacy information [... more]

Social Security just announced an cost of living adjustment for retirees The COLA increase will be applied to benefits in January of That's the largest inflation adjustment since when it was Peter with Richon Planning explains to Erin Kennedy why this year's Cost of Living Adjustment or COLA is so high and whether this change should affect your claiming strategy If you'd like to speak with Peter to determine when you should claim Social Security Richon Planning actually specializes in running very personalized analyses to determine your most financially optimal strategy Please feel free to reach out for a complimentary [... more]

Hans and Robby are back again this week with a brand new episode This week Hans and Robby are going over social security full retirement age This is vital information for those at full retirement age as well as for those approaching that age Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com Find us on YouTube Cardinal Advisors [... more]

Millions of American workers plan to retire this year but many wonder if they'll have enough to stay retired On today's MoneyWise Live host Rob West will explain how much income the average retiree needs and he'll share some steps you can take to trim your retirement budget Then he'll answer your calls and questions on various financial topics See omnystudio com listener for privacy information [... more]

We are often asked when is the right time for someone to start taking Social Security benefits Should they only wait until full retirement age or is it worth it to wait longer On today's MoneyWise Live host Rob West will cover common mistakes people make when claiming benefits Then he'll answer some calls and questions on various financial topics See omnystudio com listener for privacy information [... more]

Sometimes we make conscious mistakes with our money Sometimes they're the result of just not paying attention Either way those mistakes can be hazardous to your wealth On today's MoneyWise Live Rob West will talk about some of those harmful missteps Then he'll answer your calls and questions on various financial topics See omnystudio com listener for privacy information [... more]

Almost all Americans fall into one of two groups you're either receiving Social Security Benefits or you will be someday So how can you plan to make the most of it On today's MoneyWise Live Rob West will talk about some steps you can take now that can have a big impact on your future financial security Then he'll answer your calls and questions on a variety of financial topics See omnystudio com listener for privacy information [... more]

Since the COVID Delta variant has prolonged the pandemic businesses are facing new mandates and struggling to stay open And that's leading to continued unemployment woes for retail and service industry employees On today's MoneyWise Live Rob West will share steps you can use to weather a financial crisis brought on by unemployment or other factors Then he'll answer your calls and questions on a variety of financial topics See omnystudio com listener for privacy information [... more]

We are often asked when is the right time for someone to start taking Social Security benefits Should they only wait until full retirement age or is it worth it to wait longer On the next MoneyWise Live host Rob West will cover common mistakes people make when claiming benefits Then he rsquo ll answer your calls and questions on various financial topics That rsquo s the next MoneyWise Live mdash where biblical wisdom meets today rsquo s finances weekdays at pm Eastern pm Central on Moody Radio [... more]

Hans and Robby go over the Social Security benefits for widows and widowers and how these benefits might fall short in retirement Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com [... more]

Many people are familiar with how their own Social Security benefits work but fewer are aware of how spousal benefits work If you rsquo re married were married in the past or have never received a paycheck you just may be eligible to get your spouse rsquo s retirement benefits On the next MoneyWise Live hosts Rob West and Steve Moore discuss lsquo spousal rsquo and lsquo survivor rsquo benefits Social security spousal benefits on MoneyWise Live at pm Eastern pm Central on Moody Radio nbsp [... more]

Hans and Robby go over Social Security statements how to get them and the information you can get from them Hans even goes over his own personal statement Don't forget to get your copy of The Complete Cardinal Guide to Planning for and Living in Retirement on Amazon or on CardinalGuide com for free You can contact Hans and Cardinal by emailing hans cardinalguide com or calling - - Learn more at CardinalGuide com [... more]

Millions of Americans who are currently receiving Social Security benefits are actually still working It rsquo s true you can receive benefits without totally retiring But big changes may be coming for the workers who do On the next MoneyWise Live hosts Rob West and Steve Moore have the details about some new benefit rules nbsp Social Security changes for workers on the next MoneyWise Live at pm Eastern pm Central on Moody Radio [... more]

The annual cost of living adjustment that affects social security benefits is designed to be an adequate increase for most of our seniors But current oil prices and the COVID- crisis could seriously impact next year rsquo s benefit levels On the next MoneyWise Live hosts Rob West and Steve Moore let us know how these factors will affect our nation rsquo s seniors That rsquo s MoneyWise Live at pm Eastern pm Central on Moody Radio [... more]

In the Sermon on the Mount Jesus said Blessed are the poor in spirit for theirs is the kingdom of heaven Robby points out that we should recognize that we are poor in spirit when deciding when to take our Social Security and ask for help Bloomberg recently published an article titled American's lose trillions claiming Social Security at the wrong time Hans agrees that generally people start their Social Security too soon usually because they did not ask for help People who delay Social Security can live off their IRAs or take another job if they don't want to [... more]

In Matthew Jesus gives His sermon on the mount and asks His followers not to worry as their faith will replace their fear Social Security strikes fear in many people especially regarding how long it will be around This week Hans and Robby discuss how to apply faith or in this case fact to Social Security in order to alleviate fears and maximize your benefit The Social Security Trustees Report was recently released While this report is very long Hans summarizes it basically saying that the Social Security fund was increased by millions of dollars this year they did not [... more]