Kingdom Advisors equips Christian financial advisors to bring their faith into their practice with the industry-recognized Certified Kingdom Advisor designation. We bring those advisors together with other industry leaders to form a vibrant network. And through that network, we give them the resources, tools, and encouragement they need to serve clients like you, helping you align your values with your financial decisions and investments. To learn more, visit kingdomadvisors.com. Women control more wealth than ever.
So how do you find an advisor who listens, explains clearly, and shares your values? Hi, I'm Rob West. According to McKenzie and company, by 2030, women are expected to control nearly two-thirds of U.S. assets, around 30 trillion. With that kind of stewardship comes both opportunity and responsibility.
Today, Sharon Epps joins us to share five simple practices that women should expect from their financial advisors. Then it's onto your calls at 800-525-7000. This is Faith in Finance, biblical wisdom for your financial decisions. Sharon Epps is president of Kingdom Advisors, and the points we'll share, she and the team here at Kingdom Advisors use to train certified Kingdom Advisors to practice openly and professionally. And as it relates to today's topic, serving women specifically.
Sharon, great to have you here. I can't wait to talk about it. Sharon, as I just said, you know, these are five practices that we teach advisors who are serving women clients to be sure to bring into their practices to serve them effectively. And we're going to share these five things because I think this could really help our listeners be on the lookout for these things as they're interviewing advisors. Would you agree?
I do. And I think it starts with terminology. We want the advisor to be able to explain things clearly in a language that not only a woman, but all clients can understand. That includes, we have a lot of terms in the financial industry: RIA, CFP, all kinds. of jargon that is unique to us.
And so one of the best things that an advisor can do is stop and ask questions and say, hey, did you understand? Let me use an analogy to help make it clearer to you. And when you don't understand, ask me. I'd love to just explain it better. Yeah.
And so be on the lookout for that. Perhaps even express your desire to this advisor you're interviewing that you want to toss the terminology. All right. The second thing we teach advisors, Sharon, is to light a candle. What do we mean by that when we're talking to advisors?
Well, we don't want them to actually put a match to the flame. It might burn their building down. But what we're trying to say is create a warm and welcoming environment. Things like, are you sitting across the round table or do you have a power desk that makes the woman feel intimidated? How can you show hospitality?
There's a reason that some of the hotels give warm baked cookies when people check in. The same idea would be true in the advisor office. Yeah, be on the lookout for that as you're interviewing advisors. The third is. Is open the medicine cabinet.
We're talking about transparency here, aren't we? We absolutely are.
Now, advisors have a fiduciary responsibility to feed transparency, but there's a lot more than that. We want to have an advisor if that we're opening up our true authentic self, they are too. Yeah, so you can ask your advisor as it relates to transparency. For instance, where on paper can I see every fee and how you're paid?
Now, this fourth teaching point we have for advisors that applies to you as you interview an advisor is use a magnifying glass. Talk about that.
Well, we want the advisor to be interested in much more than just your money because money, remember, is just a tool. It helps you accomplish the purposes and calling that God's put on your life.
So, that advisor needs to be asking you about your values, your plans, and your purposes. Yeah, and the exciting thing is with the Certified Kingdom Advisor designation, you can find an advisor who shares those values and can help you express them in your financial decision. Making. All right, Sharon, that final teaching point of these five for advisors is developing God's heart for her. What does it mean for advisors to practice what we might call whole person care?
Well, this is the most important part of the CKA program, and that is we want the advisors to see themselves as spiritual disciple makers, to walk alongside not only the woman, but the whole family in praying for the clients, in walking with them in big transition seasons, big decision making. We want both spouses to be a part of the conversation. And as you know, spouses aren't alike. And so it's important that that advisor not only ask the male spouse what he thinks about things, but the female as well. And so being a part of unity with the family is a huge part of developing God's heart for the woman.
Here's my hope and prayer: that as you hear these things that Sharon just shared, that as you interview an advisor, you would feel like you have permission to look for these things. You deserve to have these things reflected in your advisor relationship. Again, a certified kingdom advisor can be found on our website. Website findaceka.com. Sharon, really helpful stuff.
Thanks for stopping by. Always good to be here. That's Sharon Epps. She's president of Kingdom Advisors. Here's the takeaway: women don't need a different standard, they simply need the standard done right with confidence, clarity, empathy, and shared values.
Go to findaceka.com. 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.
Faith in Finance is thankful for support from The Good Investor, a book by Robin John. In his book, Robin shares his journey from an immigrant child struggling in school to co-founder and CEO of Eventide Asset Management, a faith-based investment firm. This Faith and Work memoir seeks to inspire readers to view their work and investments as opportunities to honor God and bring blessing to the world. More information is available at goodinvestor.com. That's goodinvestor.com.
Great to have you with us today on Faith and Finance. I'm Rob West. Hey, our lines are open today and ready to take those questions.
So, if you have a financial question, something going on in your life today, we'd love to hear from you. Just simply call 800-525-7000. That's 800-525-7000. We'd love to tackle whatever is on your mind today and see if we can help you think about it in light of biblical wisdom. Again, that number, 800-525-7000, call right now, and we'll dive into that in just a moment.
In the news today, the recent slowdown in hiring appears to be driven less by AI and more by broader economic uncertainty. That's at least what experts are saying. In this climate, many workers are job hugging, that is holding on tightly to their positions out of caution, while others are experiencing what researchers call quiet cracking, a growing dissatisfaction. Satisfaction that leads to disengagement and burnout. Although some companies have announced layoffs connected to AI adoption, the disruptions remain contained mainly to the tech sector.
Younger workers in AI-exposed roles have been hit hardest, while more experienced employees have seen little impact, at least thus far. And given that tech jobs account for only about 6% of the overall U.S. workforce, AI's reach is still limited in scope. Looking forward, experts predict AI will be more likely to enhance human work than replace it. A Brookings report suggests employers may choose to retain rather than eliminate workers, even as demand rises for AI-related skills.
Workers who seek out training, explore how AI is shaping their industry, and stay adaptable will be better positioned for the future. As believers, this season serves as a reminder that while technology and markets constantly shift, our hope is. Anchored in the unchanging character of God. Hebrews 13:8 reminds us: listen to these words from God's word: Jesus Christ is the same yesterday, and today, and forever.
So, no matter how the workplace evolves, we can move forward with confidence, knowing our ultimate security rests not in job trends or skill sets, but in Him. And that's a good reminder for us today. Let's dive in today. We're going to begin in Elgin, Illinois, WMBI. John, go ahead, sir.
In twenty eighteen, my home insurance company agreed to replace my roof. And in twenty twenty, it was discovered that I had spaced decking and a new deck was needed. The contractor's price increased to twenty five thousand, out of which about four thousand five hundred was for the new deck. The insurance company, an employee put a note in the computer, will pay when work finished. and uh photos uh required.
I did not have that in writing. The two year limit to replace your roof had passed.
So I did not have the contractor do the work. I received a letter from my insurance home insurance company Stating that I needed to get a new roof by at my expense. by november fifteenth or november eleventh, or they will not renew my policy. What would you um Suggest regarding what I could uh s what could be said to them. to convince them to still pay for the You will and renew my policy.
Yeah. I know that's a tough one. And this does happen in the sense that when the original claim was approved and then later you determined that new decking was needed, do you have the adjuster's notes or written confirmation that the insurance company would pay once the work was completed? I told the project manager for the ripping company. Told me that the adjuster made a quote computer entry.
stating we'll pay space decents when we're completed. Photos required. And so I do not have that in writing. Yeah, yeah, okay.
Well, I think your next step here is really to call the claims department, not just customer service, reference the original claim number, explain that the work was delayed but not abandoned, and really stress that the company acknowledged the extra cost in writing per that note that you're referencing, and request that they reopen or extend the original claim. You're going to want to see if they can issue a supplement or an extension based on that prior adjuster's notes. And you're going to need to potentially escalate this. You know, if you can't get it done, I would ask for a supervisor or a claims manager if you're originally told no when you seek this out and point out that they agreed to it per these, what you were told verbally, that it was a covered loss and it was only delayed. And mention the non-renewal deadline.
Sometimes urgency helps to push things through. You know, if you can't get that done there, you'd have to go the route of filing a complaint with the insurance department or hire a public adjuster or even get legal counsel. But those are time consuming and expensive. Obviously, the other option is to pay for the roof yourself to keep the coverage active or shop it around. I know those aren't great options, but I'd certainly start by trying to get somebody on the line from the claims office.
Let's continue to take your phone calls here. We'll head to Miami and welcome Tricia to the broadcast. Go ahead. Hi. My dad passed away over a year ago, and my mother is trying to get social security benefits, but the challenge is My dad did not have.
forty credits. and neither does my mom.
So she's wondering if there's a way that they could combine my father's credits with hers.
so that she could get to that limit and start earning Social Security benefits. Oh, yeah, Tricia.
Well, first of all, I'm so sorry to hear about your dad's passing, and I can understand what you're saying. Wouldn't it be great if you could put those together in between the two of them, which they both paid into the system over a period of time, they just didn't reach the 10-year mark or 40 credits, one credit per quarter. Unfortunately, SSA does not allow the wife of a deceased husband to combine her credits with his to try to reach that threshold.
So that is not an option, unfortunately. But just to be sure you're clear and she's clear, 40 quarters is 10 years.
So is it true that he didn't have 10 years of paying into the system with FICA taxes? That's correct.
Okay.
So the only option she would have is to continue to work herself to get to 40 quarters or 10 years on her own record because there's no I mean, even beyond full retirement age, if she's working and paying FICA taxes, that's going to count toward her ability to at some point collect a benefit.
So that would be the only option is that she continues to work longer to get to that minimum threshold on her own work record. Does that make sense? Yes, it does.
Okay, yeah. Probably not the answer you were looking for, but unfortunately that is the way that it works. Tricia, I'd love to send you a copy of a book that I know has been helpful to a lot of widows. It was written by a widow, Miriam Neff Hogan and Valerie Neff. Bob Neff, when he passed away, Miriam and Valerie wrote this book for widows, in addition to starting a ministry called Widows' Connection.
It's called Wise Women Managing Money, and I think it will be an encouragement to her as she navigates this season of life.
So if you'd like to stay on the line, we'll send you a copy. But thank you for calling and for your kind remarks about the program. I appreciate it. By the way, phone calls are welcome and lines are open.
So if you have a financial question today, we'd love to tackle it with you. That number, 800-800. 525-7000. Again, it's 800. 525-7000.
This is Faith and Finance biblical wisdom for your financial decisions. We'll be right back. What matters most to you when selecting a financial advisor?
Someone who shares your biblical values? How about someone who will take the time to explain your financial options clearly? Certified kingdom advisors meet high standards of competence, integrity, and biblical training. Equipping them to offer financial advice grounded in God's Word. No more wondering if your advisor truly understands what's important to you.
Find a Certified Kingdom Advisor near you at findaceka.com. That's findaca.com. Faith in Finance is grateful for support from Sound Mind Investing. If you have money in an investment account, you know sometimes the stock market can seem like a roller coaster. But it's possible to enjoy both profit and peace of mind as a do-it-yourself investor, no matter what's happening in the market.
A short video webinar about that is available at soundmindinvesting.org. Financial wisdom for living well.
Soundmindinvesting.org Great to have you with us today on Faith and Finance. We're taking your calls and questions today. We've got room for you. If you've got a financial question, we'll try to give you an answer, but we'll do it through the lens of a Biblical worldview. The number to call 800-525-7000.
That's 800-525-7,000. You can call right now. The suburbs of Chicago is where Ken is located. Go ahead, sir. Hello, I had a question about the And A big beautiful bill.
Is it true that there's a provision in there for children born recently or this year or the next five years or something? And what's that about? And how can I participate in that? Do I need a social security number? Tell me more about it.
Yeah, good question. Yes.
So the law creates something called Trump Accounts, formerly called Money Accounts for Growth and Advancement. But here's what you need to know. It's a one-time federal seed deposit.
So for each U.S. citizen, child born between January 1st, 2025 and December 31st, 2028, the federal government will contribute $1,000 into one of these Trump accounts. And then there's annual contributions allowed.
So parents and relatives and even employers can contribute up to $5,000 per year per child. I think was the latest number I've seen. It's all still very new. And so there's still some discrepancies about it. But they grow tax deferred.
And then withdrawals are made, you get favorable capital gains treatment, particularly when used for education or purchasing a home or things like that. You can't take the money out before age 18. And then it It rolls into a traditional IRA.
So it is for, again, children born between January 1st and December 31st, 28.
So I can put my thousand in and the government puts a thousand in every year? No, no, it's one time. Yeah, one time the government puts that in and then you're allowed to continue to contribute into the account.
So they see It and then I can do 5,000. Me or anybody. body or a total Yeah. No, you can yeah, you can continue to put money in. And so what would happen is, you know, they would put that in automatically, and then private contributions then are capped at $5,000 a year until the child turns 18.
And so, and I think employers can put in up to $2,500 toward the $5,000 limit, but basically anyone can put that money in up to the $5,000. And then, you know, the money grows tax deferred, so like a traditional IRA. And then after 18, the account functions like a traditional IRA, but with special exceptions for early penalty-free withdrawals for college, first-time home purchases, and small business expenses.
So it's really just to kind of seed an account that's either going to be long-term money used for retirement that's going to start very early and take the full effect of compounding or have some seed money just for some of these major life events that I described.
Well, that sounds like a good deal.
So do I need their social security? Number for that? Anybody? Contributors need that information or they just need the account number? Yeah.
And and that's where I'm a little fuzzy in terms of how that's actually going to work. My understanding is, yes, I mean, you'd you'd need a social security, um, and so the government can't cede that thousand dollars until they have one. Uh but t normally parents apply for that, you know, when filing the birth certificate at the hospital.
So once that's issued, the account can be opened. And then when you file uh a tax return and indicate a new dependent, My understanding is that the IRS can then automatically create the account in the child's name and notify the family. Or parents can open the account through a financial institution or a straight state administrator once that Social Security number is available.
So, I think the key is just apply for that newborn social security number immediately, and then I would just let the IRS auto-create the account. And then, you know, at that point, anybody can contribute to it while you wait for the $1,000.
Okay.
'Cause I'm not the parent and and they might be a little leery if I'm asking for a Yeah.
So I was thinking of doing it as a gift or privately, but I have to have that number in order to do it. Got it. Yeah, that's exactly right.
So either the IRS or the parent or the guardian would open the account first. They would be the only one that could do that, unless the IRS auto-creates it. And then you could make a direct contribution after it exists. you know, by basically sending the funds directly to the custodian or the administrator, but you would need to get the account information so that it could be applied correctly when you make the gift. I get it.
Makes sense. Thank you very much. All right. Thanks, Ken. Appreciate your call.
Let's finish up in Indiana. By the way, we will. I know some folks have been holding patiently, like Julie. And, Julie, we're going to try to get you on first up tomorrow. But go ahead, Kay.
How can I help you? Hi, Rob. Thanks so much for taking my call. I appreciate your show. It's brought really good conversations with my fan financial advisor.
Um Today I'm calling about Roth IRAs. I have two kids that are in their early and mid-20s. And I'm really encouraging them to get started, even if it's a small amount, investing in a Roth IRA. And I wanted to know a good place for them to look where they're not going to have everything eaten up by fees because it's probably going to be a smaller contribution to start out with. Yeah, it's a great question.
I love that you're encouraging them in that nothing better than to start a Roth IRA early. The power of that tax-free combating is amazing. If they were going to pick their own investments, like exchange-traded funds or mutual funds, then I would say either Fidelity or Schwab would be great. Fidelity has no account minimums, they have commission-free ETFs. It'd be a great place for you to go with little or no fees.
Charles Schwab, same thing: zero account minimum, a broad set of index funds, no trading fees.
So, those would be great if they want to pick their own investments. If they want kind of a robo-solution where the algorithm would pick the investments for them for a small fee, I would look at. First one is Schwab again, but it's the Schwab Intelligent Portfolios. That's the Robo solution inside Charles Schwab. And then the second one is called Betterment.
So, do-it-yourself, Fidelity or Schwab, just a straight investment account, RoboAdvisor, Schwab Intelligent Portfolios, or Betterment, okay?
Okay.
Can I ask real quick a second question?
So we're not real savvy on the investing side. And I've heard you mention Soundmind Investing. Would that be a good beginning? It totally would, yeah.
So they could get the Soundmind Investing newsletter, and they would provide every month, if they wanted to, exactly which mutual funds to buy. They have a phenomenal track record. They're all believers. And you'd be really pleased with that. Oh, awesome.
Thank you so much. All right. Soundmindinvesting.org's the website. Thanks for your call.
Well, if you want to support our work here at Faith and Finance, becoming a FaithFi partner would be the way to do that. There's already eight that have become partners just today. And as to thank you, we send you four copies of our magazine, Faithful Steward, all of our studies and devotionals. You can check it out: faithfy.com/slash give. Big thanks to my team today, Devin Patrick.
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