A Tribute to Faithful Mothers on Mother’s Day

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Just click Sign Up. Now let's dive into the podcast. I am reminded of your sincere faith, which first lived in your grandmother Lois and in your mother Eunice. And I am persuaded now lives in you also.

I am Rob West. Sunday is Mother's Day, and this verse from 2 Timothy 1 reminds us how deeply a mother's faith can shape generations. So today we're celebrating the impact of faithful mothers, and then we'll take your calls at 800-525-7000. That's 800-525-7000. This is Faith and Finance, biblical wisdom for your financial journey.

Okay. So most of the time, when we think about the value of moms, it's about things you just can't put a price on like love and tenderness, guidance and wisdom that moms naturally pour out for their families. But what if we did put a monetary value on what a typical mother does for her family day in and day out? What would her paycheck look like if that were a quote paying job?

Salary.com has attempted just that. Their latest salary survey breaks down the roles a typical mom plays throughout the week, and the findings are eye opening. Working moms, on top of their professional responsibilities, put in an average of 54 hours a week running their households, caring for children, managing schedules, keeping things on track. And for stay-at-home moms, the data suggests they're putting in the equivalent of 15-hour days, seven days a week.

That includes everything from chef, teacher and nurse to event planner, financial manager, counselor, chauffeur, and sometimes even conflict negotiator. For all that, the annual base salary of your typical mom should be, are you ready for this? $185,000, given all the jobs she does on a regular basis. Now that does not include pay premiums that companies may offer to retain excellent employees such as bonuses, overtime and hazard pay.

Factor in those perks and your average stay-at-home mom could earn more than $200,000 a year. And I think we can all agree they're worth every penny. Of course, no paycheck could ever reflect what moms are truly worth. Their value can't be measured in dollars because what they give is deeply personal and profoundly spiritual. And that's why scripture calls us to honor them. So how can we honor our mothers this Sunday? Proverbs 31 28 gives us a beautiful picture of a virtuous woman's family. Her children rise up and call her blessed, her husband also, and he praises her. In this picture, her family doesn't just feel grateful.

They express it. They speak words of blessing over her life. This is one of the simplest and most powerful ways to honor your mother. Tell her how much she means to you. Thank her for the sacrifices she's made, the love she's poured out, and the ways she's reflected God's character. But honoring your mother goes beyond words. As she grows older, honor takes on a new shape. It begins to look like care, practical, intentional care.

This isn't just a nice idea. It's a biblical mandate. Jesus addressed this directly in Mark 7 10 through 13.

He confronted the Pharisees for avoiding their responsibility to care for their aging parents. They claimed their financial resources were Corban, meaning set apart for God, and therefore unavailable for family needs. But Jesus saw through the facade. Thus you nullify the word of God by your tradition that you have handed down. In other words, their so-called devotion to God was a cover for selfishness. True devotion to God is never divorced from loving people, especially those in our own households. In God's economy, honoring your mother means more than a holiday. It means living a life of gratitude, service, and responsibility. Whether that means offering encouragement, financial help, or simply your time and presence, it's an act of obedience and love. So this Mother's Day, let your words be full of praise.

But don't stop there. Look for ways to serve her, bless her, and care for her in tangible ways. In doing so, you reflect the heart of Christ and fulfill one of the most foundational commands in Scripture, honor your father and your mother. So this Sunday, take time to thank the mom in your life, your mother, your wife, your grandmother, or even a spiritual mother who's walked with you in faith. Let her know she's seen. Let her know she's loved and let her know that her work, though sometimes unnoticed, is never in vain. Because when a mother faithfully serves her family, prays over her children, and passes on her faith, she's not just shaping a home, she's shaping eternity.

I hope that's an encouragement to you today and a reminder to bless and love and serve the moms in your life as we celebrate this wonderful day, Mother's Day. All right, your calls are next. The number, 800-525-7000. This is Faith in Finance. We'll be right back. . Have you ever wondered where your money goes when you deposit it in a bank? Christian Community Credit Union believes in helping advance God's kingdom through everyday financial transactions. For over 67 years, they have provided values-aligned banking solutions to thousands of Christians and ministries. Consider Christian Community Credit Union as your banking institution by visiting joinchristiancommunity.com. Membership eligibility required. Each account is insured up to $250,000.

This institution is not federally insured. Great to have you with us today on Faith in Finance. I'm Rob West. Well, this is the program where we help you live as a wise and faithful steward. How do we do that? Well, we gather together each day during this hour to mind the scriptures, to talk about the big themes we see on the heart of God as it relates to money, to live out a biblical worldview and recognize. And here's one of the big ideas is that our financial journey is one of the key ways God shapes our spiritual journey.

Think about it. It's one of those tangible expressions every day of what you value and where you place your trust and what your priorities are. Our spending really illuminates that. Now that's not meant to make you feel bad, but it's meant to help you think about the responsibility you and I have been given as money managers of the King of Kings. And so when we start with the idea that God owns it all, and then we recognize money as a tool, it's not an end, it's a means to an end. And then we live out those principles we see in scripture that we're to work hard with our hands and we're to save appropriately and give generously because guess what? That breaks the grip of money over our lives and we're to use money as a powerful force for good as we live within God's provision and we invest and we give in a way that aligns with the heart of God.

All of those are key ideas. And each day on this program, we want to help you do just that. So the only thing we need is your questions because we want to tackle those very specific things going on in your financial life today. And the good news is we've got lines open for you. So if you want to call right now, we're going to dive into those questions here in just a moment. The number 800-525-7000.

That's 800-525-7000. Our team is standing by and whatever's on your mind today, maybe it's your spending plan and how you live within God's provision. Maybe it's paying off debt once and for all. Perhaps you want to give generously and you're just wondering how to do that. How much goes to my local church?

What about giving beyond my local church? Maybe it's navigating this stock market. Boy, it's been a roller coaster as of late. What about longer term and how do you think about your retirement plan? We can deal with any of those questions and more. Again, the number to call right now 800-525-7000. No waiting. You can get right through. Call right now 800-525-7000. Again, that's 800-525-7000. All right, let's dive into those questions.

We're going to go out to Tampa, Florida and welcome Vernon. Go ahead, sir. My question is about Bitcoin. Is that something that you think that someone should have in their portfolio? I don't necessarily know much about it, so I don't invest in it.

Especially since I'll be going into retirement soon. I was just curious about what your thoughts are on it. Yeah, I don't recommend it, Vernon, as an investment. I would put it in the most speculative category and I think the volatility of Bitcoin and really all the cryptos, even though Bitcoin is kind of the granddaddy of them all, is such that it really is very highly speculative. So for sophisticated investors that have significant assets, you know, under management or advisement, perhaps in that most speculative category, which I would say is 10% or less of the portfolio, that's where it belongs. But again, that's not for the average investor.

I'd not even consider it. And again, it's really just largely because it is so volatile and speculative. I mean, we've just seen dramatic increases and declines. And you know, when you get beyond crypto, or excuse me, when you get beyond Bitcoin, a lot of them have ended up worthless because we've, you know, seen a lot of these just go away.

It was kind of like, you know, what we saw 20 years ago when the internet was going mainstream, we saw a lot of those dot coms just, you know, evaporate. And I think that winnowing process is going to happen with the cryptos as well. There's also even though President Trump has been more favorable on the cryptos, not a central bank digital currency, but cryptocurrency, that's helped to, you know, take some of the concerns about how governments are going to react to Bitcoin and others.

And that's been, you know, threatening to them. But I think there are still some uncertainties as to what place they will have in the larger economy. So I would just say at the end of the day, Vernon, although I don't think cryptocurrency and blockchain is going away, it has far reaching implications for our economy, and not only the finance industry, but healthcare and others. So that's here to stay.

But Bitcoin and other cryptos as an investment, I would just say is too volatile, too speculative to include in the average portfolio. I hope that helps. Thanks for your call. Karen called she couldn't hold but she and her husband have an annuity. And they're wondering about charitable giving out of an annuity. And you know, I love this question, because when we've got an investment asset, and we're wanting to think about how we can give generously, you know, your balance sheet is the your greatest potential for giving far more than your cash, you know, 90% of giving is done in the form of cash, but only about 10% of our wealth is held in the form of cash, which allows you a great opportunity, if you think about how to give from your balance sheet, you're going to give far more than you ever could. Now, with regard to an annuity, and that was, I think, the question Karen was hitting on, it does allow you through a charitable gift annuity, to fund the work of a ministry and receive lifetime income while you're living. So here's the way it works, you would essentially make a gift into a charitable gift annuity and a ministry in exchange for that they give you an income stream for life based on your age and the amount of money that you put in. And then you get a partial tax deduction as the money goes in, once you pass away, whatever is remaining after your death, that then is given to the ministry or the charity. And so it's really a great opportunity for folks in that retirement season of life looking for income, also wanting to bless a ministry that's on their heart, you can kind of do both at the same time and get some tax advantages. So when we think about giving and annuities, the charitable gift annuity is really that primary vehicle. The other approach if you just have kind of a vanilla flavored annuity and another type of annuity, that really your best opportunity there is just to take a straight withdrawal from that annuity, and then donate those proceeds to a charity that would help offset any of the tax bite you get by taking the withdrawal. But if you know you want to fund a ministry and you're looking for income, that's where that charitable gift annuity can really shine. By the way, when it comes to giving off of your balance sheet, some of the more common opportunities that are overlooked are number one, appreciated stock.

Now I realize stocks have been under pressure lately, maybe you have less appreciated stock than you had six months ago, I get that. But if you do have appreciated stock, you have an opportunity there to give the stock away before it's sold. So you give it to the ministry, you get the full tax deduction for the full amount, even before any taxes are paid. And then when the ministry sells it, no capital gains whatsoever. And so don't overlook that opportunity to give off of your balance sheet in a way that could allow you to give more, bless a ministry on the heart of God, and not miss the balance sheet side of the equation. Another opportunity there would be gifts of a business interest, also gifts of a real estate interest.

And a lot of those will use what's called a donor advised fund. And our friends at the National Christian Foundation can help you out with that if you're interested in learning more. All right, folks, we're just getting started today.

Plenty more time for your questions on anything financial. We'll help you apply the wisdom from God's Word to those decisions and choices you're making. Call right now.

I've got a few lines open. 800-525-7000. By the way, if you want some help in your financial life, maybe it's a professional you need. You can find a certified kingdom advisor on our website at faithfi.com.

Or maybe it's budgeting or communicating with your spouse. That's where a certified Christian financial counselor comes in. You can find a CERT CFC on our site as well. Just go to faithfi.com and click find a professional.

Back with more after this. Stick around. on resources that will deepen your understanding of biblical stewardship. Start your journey today by creating your Faithfi account at faithfi.com.

Just click sign up. As the leading advocate for the Christian financial industry, Kingdom Advisors serves the public by promoting the integration of a biblical worldview across every aspect of the financial services industry. And we serve a growing network of thousands of Christian financial professionals, equipping and empowering them to carry biblical financial wisdom to their clients, peers, and community. For more information, visit kingdomadvisors.com. That's kingdomadvisors.com.

Great to have you with us today on Faith and Finance. We're taking your calls and questions. Got just a couple of lines open. 800-525-7000.

Again, that's 800-525-7000. Let's go up to Chicago. Hi, Bob. Go ahead. Hey, Rob. Thanks for taking my call.

I just have a quick question. My daughter wanted me to call in and she's got two loans that equal roughly about $15,000. And I apologize, the loan servicer, I think, is called Mohila. Yes, that's one of the federal loan servicers.

Okay. So she's got two separate loans. And my question, or I should say her question, is I think it's September. The interest that's been deferred, I think, is going to start back in. And they're wondering, and I know they've heard quite a few times, like if you have a loan, this may not apply to federal loans, but if let's just say they have $13,000 ready to go, are you able to call up and negotiate and say, hey, look, I've got this. If I pay it off right now, do you know on a federal loan, will they be willing to work with you? Or yeah, I was gonna say, or the other option is, I don't know what the interest rate would be, you know, would they would you recommend just paying it off if you got the money? Or, you know, do you have for what you have? Good question.

For to the first part of your question? No. Federal loans are not able to be negotiated. And only when and there's strict rules around this when they enter default, which is about nine months of missed payments at that loan, they're assigned to the Department of Education's default resolution group, or a private collection agency, but even then settlements typically require paying a significant portion of the balance, often 90% or more.

So that's just, you know, a pretty risky approach. I wouldn't take that at all. With this being a federal loan, you know, option with that federal loan servicer, they're not going to negotiate. So I wouldn't I would be focused on getting this paid off. Now, the only reason why you wouldn't pay it off immediately would be if you don't have the money to or you or she may qualify for one of the loan forgiveness options, you know, which would basically be the most common is the public service loan forgiveness, where she works for a qualifying employer, government or a nonprofit, and she has to make those 10 years of, you know, qualifying for a lot of, you know, qualifying payments, 120 payments, or she qualifies for one of the income driven repayment options. But do you know if she qualifies for public service loan forgiveness? You know, that's, I'll have to, you know, I'll, you know, relisten to it and write down, you know, and I'll have to have her look into it. I know she works for a hospital right now, but I don't know, you know, I mean, yeah, to what extent, but you would look into that. I would Yeah, I mean, that that could be an option. And so I would say if she qualifies for public service loan forgiveness, I would say then just start making the payments until she reached the 100 reaches the 125 or excuse me 120 qualifying payment marks of 10 years, and then the rest would be forgiven.

And that's a program that's been in place for a long time. There is some specific requirements around it. So not all, you know, options would exist, they're just depending on who she works for, and then what, you know, what locale, but I would explore that apart from that, I would say, tell her that the settlement option, she should just take off the table.

And if she's not going to qualify for loan forgiveness, then I would say, let's just balance this against other priorities, namely, you know, other consumer debt with a higher interest rate, or, you know, starting to save for retirement, not to mention, you know, her emergency fund, but assuming she's making progress on all of those, then I think her getting this paid off just as soon as she can is a key idea. Okay, sounds great. Okay.

Like I said, I'll get to the info and we may call you back then. Okay, thank you so much for your time, Rob. Thank you.

Absolutely. God bless you, Bob. Thanks for calling today.

We appreciate it. 800-525-7000. Ada is in Tennessee. Hi, Ada. Go ahead. Hello. Thank you for taking my call. I have a question about charitable giving from a required minimum distribution.

Okay. I am an executor for my father's estate. And I'm not 73 yet, but he obviously was older.

And last December, I was surprised by the estate planner calling me and saying, we have to take in our RMD, please come in and sign the paperwork. But this year, I want it to go to a charitable organization. How do we set that up? Okay, so what is your age? I'm 67. Okay, got it. Yeah. So if you are in order to do a qualified charitable distribution, you have to be 70 and a half. So as a non spouse inherited IRA, if he was already taking the RMDs before he passed, and it sounds like he was correct.

Yeah. Okay, then you would typically I would check with your CPA on this, but typically, you would have to add a minimum continue to take required minimums. And then you'd have to fully deplete the IRA, you know, within 10 years. And until you're 70 and a half, you can't do a qualified charitable distribution. All right, when I reach 70 and a half, then we can begin to use his IRA until it's depleted. Yes, exactly right. So you would be able to send directly to a charity out of the inherited IRA once you are 70 and a half or older provided that inherited account is a traditional IRA. But if it is, then you could go right out of the IRA to a qualified charity that would ensure that you're meeting those required minimums depleting the account, and it doesn't get added to your taxable income for the year.

All right. So at the time that I'm 70 and a half, I will also be eligible to use my RMD from my own IRA. Correct? Yes, exactly right.

So you would be able to designate whichever churches or charities that I give them to. Yeah, that's exactly right. So long as you're 70 and a half, you're able to put to do up to $105,000 for 2025. And that number will likely continue to grow each year. Last year was 100,000.

This year, it's 105. But that's the amount you're able to take out of, you know, per individual across all of your IRAs. Thank you. Thank you.

Okay. You're very welcome. I just need to wait three years and then I'll be eligible to do that.

That's exactly right. Just make sure you're taking out at least enough to satisfy that required minimum from that inherited IRA since he had started taking RMDs before he passed away. And your CPA can make sure that you're taking enough out each year.

That will be taxable but it is a requirement from the IRS. We appreciate your call, Ada. Thanks for being on the program today. Folks, such a privilege to come alongside you each day to encourage you to hear your stories. We count it a privilege that you invite us into your journey as a steward of God's resources. And our goal is to be hopeful, to be encouraging, to be reverent as we deal with and approach God's Word, but always to point you back to Jesus.

Here's my experience. When we get this era of our lives right, our finances, it has a ripple effect through every other area of our lives and ultimately will lead to a more intimate relationship with the Lord. That's our goal. A big thanks to my team today, Taylor, Devin, and Pat. And we'll see you next time right here on Faith and Finance. Faith and Finance is provided by Faith By and listeners like you.