If you enjoy this podcast, you're going to love all the many different resources waiting for you at FaithFy.com and the Faith By app. You'll find powerful wisdom, free podcasts, articles, videos, and more from leading voices such as Randy Alcorn, Howard Dayton, Ron Blue, and our own Rob West. Grow in wisdom and knowledge by connecting with a community of thousands of Christians striving to be good and faithful stewards at faithby.com or by downloading the Faith By app. Billy Graham once said, tell me what you think about money and I will tell you what you think about God, for these two things are closely related. Hi, I'm Rob West.
In Jesus' parable of the talents, we see that stewardship isn't just about money, it's about how we view God. Today, Taylor Standridge joins me to explore how our image of God influences the way we give, spend, and live. And then it's on to your calls at 800-525-7000. That's 800-525-7000. This is Faith in Finance, biblical wisdom for your financial journey.
Well, it's always a privilege when Taylor Stanrich joins us. He's the production manager here at Faith and Finance. Co-author of Look at the Sparrows, our 21-day devotional on financial fear and anxiety, and a frequent contributor on our quarterly magazine, Faithful Steward, as well as other Faith Fi Studies and Devotionals. Taylor, great to have you back. Hey, Rob, it's a pleasure to be here.
Taylor, you have an article in the latest issue of Faithful Steward, and you quote A.W. Tozer. Let me read that quote. He says, What comes into our minds when we think about God is the most important thing about us, end quote. Why does that idea matter when we talk about stewardship in particular?
Rob, that's just one of my favorite quotes in all the world because it highlights something that's so foundational in our faith. And that's that our view of God literally shapes everything, especially how we handle what He has entrusted to us.
So, if we see God as this generous, trustworthy, sovereign Father, we will steward our time, our money, our resources with joyful hearts and open hands because we know that He is our provider and we see Him as our ultimate treasure. That's what we are all about here at Faith By seeing God as our ultimate treasure. But if we see God as being distant or demanding or indifferent, just not caring about the details of our life, we will give reluctantly or we will hoard fearfully because we just don't think that God cares about us.
So, stewardship goes far beyond budgets and giving. It's about trust and worship and living in light of who we believe God to be. And I can't stress this enough, Rob. If we get our view of God wrong, we will get everything else wrong. It determines how.
How we relate to his word. It relates to how we navigate his world and relate to his people.
So, even if we understand scripture from this very intellectual sense and we miss God's heart, his tone, his compassion, his generosity, we will miss the purpose behind those very commands that we are trying to live by.
So, faithful stewardship flows from truly knowing and trusting in him. And that's precisely what we see in the Pharisees: people that knew the word intellectually, but completely missed God's heart behind it. Wow, this is a big idea, Taylor. I love this. Our view of God impacts everything, and certainly that includes our financial stewardship.
So, in this article in Faithful Steward, you walk us through the parable of the talents in Matthew twenty five.
So, Unpack this. What do we learn from the third servant who buried his talent?
Well, for sure, this is a very popular story amongst the financial circles, especially in Christian finance. And so we see that there are two people that manage their resources well. They end up doubling the master's resources. And then there's this third servant that is so scared that he buries his investment in the ground. And then when the master comes back, the master is just perplexed at why in the world would you bury this talent?
And we often think that this might just be about financial stewardship, but this goes well beyond that. It's about how we steward our entire lives. The talents represent all that God has entrusted to us, whether that's our opportunities, our gifts, our financial resources, our relationships, even our time.
So, when we live with this distorted view of God, we will hold back and we will bury everything that He has given us. And so, when we look at the master's rebuke, it's a sobering reality because the servant not only failed to turn a prophet, he wasted the opportunity to participate in the master's mission. And so, when we truly believe that God is good and generous and worthy of our lives, we will not bury what he has given. Because you see in verse 24, the parable of the talents, he said, I knew you to be a hard man.
Well, this story is about the kingdom of God.
So, the master is God. This false perception led him not to do anything with the resources.
So, he didn't lack the ability, he lacked trust. And so, it's not just about being a wise steward, it's about. worshiping. Taylor, this is so good.
Well, folks, we're going to continue to unpack this just around the corner. We're going to look at the deeper warning here and really talk about why our view of God is so critical to our faithfulness as stewards. We'll talk about how fear enters into the equation and what we can learn about God's heart. We're unpacking the parable of the talents today, and Taylor Standrich is here with us. Taylor is production manager here at Faith and Finance.
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We're talking the parable of the talents today. Hi, I'm Rob West, my guest today.
Well, he's not a guest, he's part of our team and a vital one at that. Taylor Stanrich is here. He's our production manager here at Faith and Finance. He makes this program sound a whole lot better than I could on my own. He's the co-author of Look at the Sparrows, our 21-day devotional on financial fear and anxiety.
And he has a hand in just about everything we do. We're talking about the parable of the talents today, a classic parable from God's word that just really puts a fine point on our role as stewards of God's resources, but looking at it perhaps from a different angle. And this idea, Taylor, that our view of God shapes everything, including our financial stewardship, is not one of the maybe obvious understandings of this parable. But as you've pulled this out, you believe this is really foundational for us, isn't it? It absolutely is because it's not just about not being a wise steward.
The deeper warning of this parable of the talents is that a distorted view of God-remember, the third servant says that he knew the master to be a hard man, someone that is gathering a harvest where he did not sow. And so, a distorted view of God doesn't just lead to a lack of return, it actually leads to unfaithfulness. And so, the third servant, as we talked about in the first segment, didn't just mismanage a resource, he mismanaged the character of the master. And so, this parable reminds us that faithfulness isn't about performance, it's about trust. And you cannot trust a God that you do not know.
Oh, wow. That is so good. Taylor, you contrast that fear, though, with the boldness of the other two servants.
So what made their response so different?
Well, they didn't act out of fear, out of the confidence in their master's character, knowing who their master is. The third servant buried their talent, assuming that the master was harsh. But the other two stepped out in faith and they believed that their efforts would be received with joy and not judgment. And so, their response shows us that faithful stewardship isn't rooted in skill or strategy, but in a relationship. And they knew their master and wanted to honor him.
And that gave them the courage to take risks, to multiply what was given to them, and to return it with joy. And I think in the end, that trust is rewarded not just with affirmation of good job, but it's with greater joy. We actually enter into the joy of our master. Let's stay with those first two servants for a moment. I love that you just said it.
Enter into the joy of your master. That's a beautiful phrase. What does that show us about the heart of God? Yeah, I think it shows that God is not just a taskmaster who's evaluating performance. You know, heaven's not this, you know, divine HR room with an instant replay machine.
He's a loving father who invites us into a relationship and celebration. Faithful stewardship is not about duty, it's about delight. And so, when we trust God and live faithfully with what He has entrusted to us, we're not earning His love, we're stepping into the joy that is already available in God. His joy becomes our reward, and being with Him becomes our ultimate treasure.
So, that phrase, enter into the joy of your master, reminds us that God's heart is not one of obligation or cold evaluation. He wants to partner with us. God does not need us. It's like what I do with my son when my son's in the yard with me and He wants to help out. My son's three, he probably can't do very much to help me, but there is so much joy just allowing my son to be involved in those everyday activities.
And that's the kind of God we serve. He's gracious. He's generous and he's full of delight in wanting to work with his children. Oh, it's so good. And you unpack this in the article.
But we say obedience isn't just something we do for God, it's actually a gift from Him. Unpack that a bit more. Yeah, I think Christians often think of obedience as something that we do for God. And while that impulse actually, I think, really reflects a desire to honor him, I think there's a really important distinction that we need to make because we're not only saved by grace through faith, the good works we are doing are also only possible by that same grace through faith. We see obedience is not ultimately what we offer to God, but what God accomplishes in and through us.
So we can't even take credit for obedience because it is God who enables us because he gives us his spirit. You know, as Paul reminds us in Philippians 2:13, it is God who works in you to will and to act according to his good purpose. And we see in Ephesians 2:8 and 9 that we are saved by grace through faith. But then we go to Ephesians 2:10. And we're told that God prepared good works in advance for us to walk in.
He doesn't just give us the opportunities, he gives us the desire and the ability to obey. And that means that obedience is never a reason to boast. Like Paul says in 1 Corinthians 4: what do you have that you did not receive? Our faithfulness is evidence of God's faithfulness already at work in us.
So, when we walk in obedience, we're not earning God's love, we are responding to it. Obedience then becomes a joy, not a burden, because it is God Himself who empowers us to live the life that He has already set before us. Ugh.
Well, what strikes me, Taylor, is that changes the whole tone then of stewardship. You know, we're not just earning favor, it's walking in a relationship with the living God, right? That's exactly right, Rob. It transforms stewardship from this burden that so many people see it as this blessing that we get to participate in. It becomes a privilege.
When we understand that we're not working to earn God's favor, but we're responding to the favor that we've already received in Christ, everything changes. And this goes back to the A.W. Tozer quote: everything changes when we see God correctly. Stewardship becomes an invitation to walk in step with our generous, loving Father. And we're not managing resources to prove ourselves.
We are participating in the good works that He has set ahead for us. It's a relational act. It's not one of transaction. And that relationship is one that is rooted in grace. It's sustained by the Holy Spirit and it's aimed at bringing God glory.
So instead of asking, what do I owe God? We begin to start asking questions like this. How can I joyfully respond to the love that He's already given me? And I think that's at the very heart of faithful stewardship. I couldn't agree more.
Taylor, you close this article we're talking about from Faithful Steward with a sobering line. You say that when some people meet Jesus, they may not hear, I never knew you, but instead, you never knew me. What should we take away from that? Yeah, I think that line really is meant to cause us to reflect deeply on who we are following. Are we trusting in Jesus or are we trusting in our own obedience?
You know, in Matthew 7, this is probably one of the most scary passages in the Bible because Jesus is speaking to people who thought they were following Him. These are not people that did not even give a care to Jesus, these are people that did impressive things in His name. But He says, I never knew you. And that's really troubling because it shows that it's possible to be so busy for God and completely miss a relationship with Him. And so there's another side to that warning.
Some may hear, I never knew you, but possibly you never knew me. And I think they may obey outwardly or manage their resources well, but they do that without truly knowing the heart of God. And I think that's why stewardship and generosity always must begin with personally receiving God's generosity because we cannot reflect what we have not received. And until we know him and really know him as this gracious, faithful, and abundantly generous God, we will not be able to steward with joy or give with open hands.
So, true generosity flows from a heart that has been transformed by his grace. And faithful stewardship isn't just about what we do, it's about who we know. Yeah, that's exactly right. Taylor, we've got just about 30 seconds left. Tie a bow on this for us.
Yeah, I'd say if you feel stuck or feel fearful, like you're the third servant, I just want you to know you are not alone, but I want you to take heart and be encouraged that God is not waiting to punish you. He is inviting you to deeper trust in him. And that third servant's mistake wasn't failure, it was fear that kept him from even trying.
So, as 2 Timothy 1:7 reminds us, God gave us a spirit, not of fear, but of power and love and self-control. His spirit is with you, and he is not done with your story. What a powerful message for our audience today. Taylor, so thankful for you, my friend. Thanks for being here.
Thank you, Rob. It's always a pleasure to be here. Our guest today has been Taylor Standridge, production manager here at Faith and Finance. If you'd like to read his article in Faithful Steward, along with the other thoughtful pieces each quarter, become a partner at faithfy.com/slash partner. Back with your questions after this.
Stick around. We chase money thinking it'll bring security. We seek success hoping it'll satisfy. But the book of Ecclesiastes exposes this truth. Lasting contentment isn't found in what we own, but in a personal relationship with Wisdom Himself.
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I'm Rob West. We're taking your calls and questions today. Looks like we've got four lines open, that number, with any financial question, 800. 5257,000. Again, that's 800, 525, 7,000.
Indianapolis is where Daniel's located. Go ahead, sir. Thank you for taking my call. I appreciate the wisdom you share every day and Your wisdom seems to always agree with my philosophy financially, so I figure you must be a brilliant man. I don't know about that, but I appreciate the kind remarks.
Yeah. My question is about the new six thousand dollar tax break for seniors. My wife and I are both retired, and we'll need to start taking our minimum deduction soon. And I was wondering how our tax liability will be affected by the new new tax break that they're supposed to have for seniors. Yeah.
Well, a couple of things I think you need to know. First is the $6,000 senior deduction starts this year, goes through 2028. Taxpayers 65 and older can get an extra $6,000 or $12,000 married filing jointly. And this is in addition to the standard deduction and any existing age-based increases. It applies whether you itemize or use the standard deduction.
So you don't need to itemize to claim it. It applies either way. In terms of a 401k or IRA distribution, the key factor is what's called your modified adjusted gross income, which typically includes your IRA or 401k withdrawals. If those withdrawals push your modified adjusted gross income above certain thresholds, $150,000 for joint, then your eligibility for that senior deduction starts to phase out. It fully disappears at $175,000 for single filers, $250,000 for married.
But yes, taking money from a 401k or an IRA. Can reduce or eliminate the benefit because it increases your modified adjusted gross income. But if it stays below that, then absolutely it would allow a deduction that is against your income.
So long as you don't have too much income to claim it, you would have the ability to reduce your taxable income at least this year through 2028.
So would it be smart thing to take a larger amount out of because we won't have to pay taxes on that? Potentially, yes, because if you haven't fully tapped the benefit of that extra deduction and you could work with your CPA to determine that sweet spot, yes, it would allow you to start systematically taking it out. But I suspect even just with a With the required minimum that you have, you're probably going to get close to fully maximizing that benefit pretty quickly, depending on the size of that account. But yes, if there's still some room there and you're eventually going to take it out, why not take it out now when you have the ability to lower the tax liability? You can't save it up in terms of only the amount taken out in any given year can apply to that year's required minimum.
So it's not like it would help you for that. But if you need to take it out anyway, because you need to spend it, then you might as well take out up to the amount that you would benefit from with respect to the deduction.
Okay. All right, great. Thank you very much. All right. Thanks for your call, Daniel.
We appreciate it. Let's go to Illinois. Hi, Charlie. How can I help you, sir?
Okay. I used to sell tax shelter annuities and I have some experience But from time to time I hear Financial guy is knocking annuities. It's not a good investment. And I think the newities are some of the best I wonder what your Just is going to say about inheritance. Yeah, that's a great question.
You know, here's my take on it: they are not my first choice for most people. Keep in mind, when you're talking on the radio, you're dealing with a wide swath of audience. And, you know, when I talk about just kind of the typical investment and how you save for the future and how you protect yourself in terms of having life insurance to provide for the needs of your family at your passing, annuities are not my first choice. I would rather see people buy term life insurance, get as much as they need at a minimum 10 to 12 times their income during their working years, and then drop that insurance when they get to retirement. And then at the same time, start as early as possible.
And after they give and after they provide for their families, that they have enough left over to put money away in a tax-deferred retirement account like a 401k or IRA or both and save for a long time. Period of time and let that money grow on a compounded basis.
So, for the average person, that's my preference.
Now, where do annuities come in?
Well, they can make sense in the sense that maybe you started late in putting money aside for retirement and you've maxed out your retirement plans.
Well, an annuity is a tax-deferred vehicle that you can do additional saving in. Maybe you're looking in a later season of life for a guaranteed return, and you want to transfer the risk of those investments away from the market where you're bearing the risk, and you want to place that risk on an insurance company in exchange for either a guaranteed rate of return for a fixed annuity or a portion of the upside on a variable annuity with the floor on the downside. And if that's what gives someone peace of mind, then I'm certainly okay with that. The primary reasons, Charlie, that I don't use them as my default, my go-to for the average listener, is that you lose access to the money in part because, as you know, you have surrender charges if you need to get it back. And the largest issue, apart from the tax issues, when you start taking the withdrawal, is paying taxes on the earnings.
The larger issue is that when you look at the average annualized performance of the, Let's say the stock market, the SP 500 over the last hundred years. Primarily, where you get the 8% and 9% annualized returns over a long period of time is because of those years where the market was up dramatically. It offsets the years where it was flat or down. And the problem with annuities, variable annuities, is you're giving up some of that upside potential that's really the key to getting those better long-term annualized returns. Because remember, the insurance company keeps everything above a certain amount in exchange for giving you that floor on the downside.
So, for me, especially if you're starting young, I'd rather take the risk on the downside but get the full upside. And you can't do that with an annuity. But give me your thoughts on all that.
Well, I used to sell both fixed and variable. And my uh my clients were school teachers who would uh take money out of there. Market savings. And uh investment about And every one of my teachers were happy with the annuities. Sure.
Many of them accumulated several thousand dollars. Yeah. And they're safe. You get a good company, and you're safe. You don't have to worry about it and it's off track to third and to me you can't beat it.
Yeah, yeah.
Well, listen, I appreciate that. We we certainly uh Can have a variety of perspectives here. And again, just to reiterate, I'm not one of those financial guys, if you will, that says there's never a place for an annuity. You'll certainly hear that from some. You won't hear that from me.
It's just not my go-to. It's not my default option for the largest majority of people for the reasons that I mentioned. But I appreciate you weighing in today. Thanks for being on the program. Big thanks to my team today, Jim, Devin, and Sandy.
We'll see you next time. Bye-bye. Faith in Finance is provided by FaithFi and listeners like you.
