Imagine having biblical financial wisdom delivered to your inbox every week, helping you integrate your faith and financial decisions for the glory of God. At faithfi.com, you can join a community of over 70,000 people who are already receiving our weekly wisdom email, filled with articles, videos, podcasts, and exclusive offers 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.
Now, let's dive into the podcast. When you buy something, it's a straightforward trade. Money goes out and something comes back in. But giving is different. Hi, I'm Rob West.
Scripture says we will receive when we give. But the return may not look the way we expect. What should your heart anticipate, and what has God actually promised? We'll explore that today, 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 decisions. When most people hear the phrase giving to receive, they think of a transaction. You give money to God or to someone else, and in return, you expect to get something back, maybe more money, blessings, or some earthly advantage. But biblically, this misses the heart of what giving is all about. Scripture never presents generosity as a get-rich scheme.
Instead, it shows us that when we give, we receive something far greater than wealth. We receive the life God intends for us, a life of freedom, joy, and participation in His kingdom. It's true that some people approach generosity with a transactional mindset. They might point to verses like Luke 6:38, give and it will be given to you as a formula. If I give, God owes me something in return.
But this is a distortion of what Jesus meant. God isn't running a cosmic vending machine where our dollars purchase blessings. He's a loving Father who invites us to live differently, to find life not in what we hoard, but in what we release. Think about it. If money itself were the ultimate reward, then God would be reinforcing the very idol He wants to break in our hearts.
As Jesus said in Luke 12:15, one's life does not consist in the abundance of possessions. That is both true in this life and the next.
So, what do we actually receive when we give?
Well, scripture points us to a few beautiful realities. First, we receive freedom. Money has a way of gripping our hearts. Jesus warned in Matthew 6:24, you cannot serve God and money. When we give, we loosen money's grip on us.
We're set free from slavery to wealth, and we declare that God alone is our master. Second, we receive joy. In Acts 20:35, Paul quotes Jesus: It is more blessed to give than to receive. When we give, we step into joy that can't be bought. It's like John Bunyan once said: You have not lived today until you have done something for someone who can never repay you.
Third, we receive purpose. Generosity ties our story to God's bigger story. In 2 Corinthians 9:11, Paul says, You will be enriched in every way to be generous in every way. Notice the goal, not that we enrich ourselves, but that God enriches us for the sake of others. Our purpose is to reflect His generous heart to the world.
If we're honest, it's easy to slip into giving with ulterior motives, whether it's to look good, feel good, or even gain favor with God. But the gospel frees us from all of that. We don't give to earn God's love, we give because we already have it. Ephesians 2, 8 and 9 reminds us that we are saved by grace, not by works, and verse 10 goes on to say that we are God's workmanship, created for good works. In other words, generosity isn't a way to climb into God's favor, it's the natural overflow of a life already transformed by His grace.
When we see giving this way, it changes everything. We don't give to get back. We give to participate in the life God has already set before us. At the center of our faith is Jesus Himself, the ultimate example of giving. 2 Corinthians 8:9 says, For you know the grace of our Lord Jesus Christ, that though he was rich, yet for your sake he became poor, so that you by his poverty might become rich.
Jesus didn't give his life to get something back. He gave it because of love. And through his sacrifice, we receive something far better than material wealth. We received reconciliation with God and eternal life in his kingdom. If our giving reflects His giving, then our motivation must be love, not return.
We give because we love God and love others, and in doing so we experience the richness of life in Christ.
So, even if we receive something in return for our generosity, it's not in the shallow sense of getting back more money or blessings we can measure. We give to receive something eternal. Freedom from greed, joy in Christ, purpose in God's kingdom, and the deep assurance that God is our ultimate treasure. And in this way, we become people who live with open hands, trusting that the life God has set before us is richer than anything money can buy. The world may tell you to give in order to get, but the gospel tells us to give because we have already been given everything in Christ.
All right, your calls are next. That number 800-525-7000. Back after this. Stay with us. What if managing your money could actually draw you closer to God?
What would happen if we began to see God as our ultimate treasure? The Faith Buy App helps you do more than budget. It helps you integrate your faith and financial decisions for the glory of God. With easy-to-use envelope futures, top biblical financial content, and a supportive in-app community, you'll learn to steward God's resources wisely and grow in generosity. Download the Faith Buy app today from your app store or visit FaithBuy.com and click App.
Faith in Finance is grateful for support from Sound Mind Investing. For more than 30 years, they've offered financial wisdom for living well. SMI provides step-by-step guidance for do-it-yourself investors. from those just getting started to those getting ready for retirement. More information, including a short video webinar on profit and peace of mind no matter what's happening in the market, is available at soundmindinvesting.org.
Thanks for joining us today on Faith and Finance. We're taking your calls and questions today. If you've got a question, we'd love to hear from you. 800-525-7000, you can call right now. Let's begin today in New York.
Michael, you'll be our first caller. Go ahead. Hey Rob, uh first time caller. Appreciate listening to you and all the advice you got. I wish I was calling about an investment or something, but it's actually kind of the opposite.
where I didn't know about it. Um Prior to our marriage, my wife had Um a bunch of student debt It started off at fifty, and we recently checked on it. It's actually grown to sixty five thousand. And this is a little heavy for us. It's hard to handle.
We've been praying about it and seeking. you know, direction. Um I was wondering what kind of advice you have And how would that affect me? And because we file jointly.
So like what what's this um What are some solutions or, you know, ways to attack this. Yeah. Yeah. Well, I know this can weigh heavy, especially when it comes as a surprise.
So I totally understand that. You know, with regard to where you all go from here, I think the key is what you have. Initially, is clarity. You just need to know, okay, regardless of the fact that we're not excited about it and we wish it didn't exist, we need to know where we stand. And so, you getting to a place where you say, okay, this is what's owed today, even though it's higher than what was originally borrowed.
What is the interest rate? Who is the loan servicer? What type of loan is this? I mean, getting all of that information. What is the monthly payment?
And then, what flexibility do you have? For instance, do you know if this is a federal student loan or private? Yes, it is federal, and it's set on an income-based payment for her. She's been a stay at home mom. For about six years, so she's had zero income, and she's home schooling the kids.
And that I believe like that's her her role right there.
So that's why we weren't really focused on it. But um Yeah, so her payments are actually zero dollars a month. Yeah, yeah. Which is one of the challenges.
Now, it's nice that you have that flexibility if you need it, but those income-driven repayment options that drop those payments, in this case, all the way to zero, it's not covering even the monthly interest. And so, as that interest continues to accumulate, you know, that's why her balance is larger now than when she borrowed. And so, you know, really, we need to look at how we can get back to a payment that's realistic, that starts to get you on a track to getting this eventually paid off. Where are you all at financially? I mean, do you have the ability to dramatically increase the monthly payment you're sending?
Personally, no. I'm struggling. We're basically living paycheck to paycheck. I've only made fifty thousand the past two years.
So this is an unexpected expense where That's why we're a little blindsided by it. Yeah. Yeah. Got it.
Well, you don't want to refinance it because, you know, if you went to a private lender, you would lose those income-driven repayment options that are offered by the federal loans program. And even though it's not a great situation in that it's not even covering the interest, at least it allows you to stay current because the last thing you want, the only thing worse than what you've discovered would be for you to get into a situation where you're past due and then you've got all the levers that can be pulled all the way to garnishment.
So you certainly don't want that.
So I think the key for you all is to try to dial back your spending plan to the best of your ability. I realize you have limited funds, you've got a growing family, and this is a challenge. And so we want to look first at the income side. What can you do to get your income up? Can you advance your skills?
Do you need to look at getting a second job for a period of time? What could be done there? Could she even do it?
Some things from home. I totally get her wanting to be a stay-at-home mom. It's amazing. And it's the most difficult and the most needed job of any.
So I'm not saying that's all, you know, she needs to move away from that. The question is just, what can you do? You know, I think the key for you, Michael, is really to start to look at what is that plan moving forward that could get us to a place where we're actually at least making some progress. And so you may want to start with, you know, that spending plan and just say, is there any options? Do I have any options on the income side?
We always want to start there. Is there a way to get that up? And then, secondly, what can we do to keep it in good standing? But ultimately, try to dial back spending with the household budget, prioritizing the main things: housing, food, utilities, transportation, and then looking at what can go in this season. Maybe you eliminate your retirement savings or something like that just for a season while you start to get to a place where you're making some progress.
And you really need an emergency cushion. I mean, at least $500 to $1,000. And then ultimately, we can build that up to three to six months' expenses. Do you all have any credit card debt or other high-interest debt? No, only the mortgage on the house, but I faithfully pay my.
credit cards every month.
Okay, great. Yeah. So that's a good sign. I mean, obviously, you have discipline, you're managing things well, even though there's limited resources. You know, I think the option here is.
You know, take full advantage of that income-driven repayment, but what can be done to start to get some positive movement toward that? Just recognize it's gonna be with you for a while, and you know, that's okay. Um, at least you're current on it, but you know, as your income grows, we can't let your lifestyle spending grow with it. We're gonna have to really stay disciplined on keeping your lifestyle spending cap so that any additional income, whether that's bonuses or raises or you taking on something part-time, even for a period of time, goes to getting you guys in a way where you're making some positive movement ultimately toward these student loans.
So I think that's really where you need to go from here. I'd be happy to provide one of our certified Christian financial counselors to you at no cost. just to help you look at your budget, see if there's anything you're missing, if that would be helpful to you. It doesn't sound like that's the problem. It sounds like it's mainly on the income side.
But if you feel like that would be helpful, I would certainly be able to provide that.
Okay. Yeah, I do appreciate that. Yeah, absolutely. Let's do this, Michael. You stay on the line.
We'll get your information. This will be somebody that can look over your situation, see if you're missing anything, help you kind of fine-tune that spending plan. And let's see if we can't get to a place where you can get off of that $0 monthly payment and start to at least start making some progress, even just a little bit on a monthly basis so the balance isn't growing. And call back anytime if we can help you. Thanks for being on the program today.
Chuck in Indiana. Go ahead, sir. A great program, Rob. Just a quick question. For the past three years, I've been giving to the RMD program.
You know, you have to require minimal distribution. And, you know, obviously, my church has been happy because I donated. I'll go to them. But then the guy at work says, Why are you doing that? If you're still working, You don't have to give this, where you take out requirement distribution of money.
Is that true? Yes.
Well, partially.
So if you're still working for the company sponsoring the plan. And you don't own more than 5% of the plan, then you don't have to take the RMDs. But this does not apply to IRAs. You would have to take RMDs from your IRA, even if you're still working. But where you do not have to take them, even if you're of the age where they're typically required, would be if you're still working for the company sponsoring the plan for that plan, you would not have to take the RMD.
Does that make sense? Got it, yeah.
Okay. Fantastic.
So they come from IRA.
Okay. 'Cause that's the That's exactly right. And and it would be based on your life expectancy and the balance of the IRA. But for a retirement plan at a company that you're still working at, as long as you don't own more than five percent, you would not have to count that in to determine the required minimum because it doesn't apply until you separate from employment. Garbage.
Alright. Bless you, Chuck. Absolutely. Thanks for calling. We'll be right back.
What we do is very special and it's very unique. This is Bethany. She is a Certified Kingdom Advisor. I became a CKA because we're not building bigger barns and we're not trying to figure out how we can just amass more and more and more. We're figuring out how much do you really need.
What are your priorities? What has God called you to? And then how can we give it away? How can we be more generous? You can find an advisor like Bethany at findaca.com.
We are grateful for support from Timothy Plan. Since 1994, Timothy Plan has shared good news with investors and advisors by offering faith-honoring mutual funds and exchange-traded funds. More information is at TimothyPlan.com. The investment objectives, risks, charges, and expenses are contained in the prospectus and summary prospectus available at TimothyPlan.com. Mutual funds distributed by Timothy Partners Limited and ETFs distributed by Forside Funds Services LLC.
Investing involves risks, including possible loss of principal. Thanks for joining us today on Faith and Finance. Here in our final segment today, we'll get to as many calls as we can. If you have a question, call right now, 800-525-7000. Oklahoma is where Forest is located.
Go ahead. Rob, I appreciate your show and listen to you almost every day. Awesome. Thank you. My question is.
Yeah, I've got it wrong. IRA at a brokerage and would like to transfer to another brokerage. where it is currently, it's been there more than the five years Required. If I transfer it to the new brokerage, does that five-year time period? Start over.
Or is the five years that it's already had remained in effect. No, it's from when you originally opened the account, first of all, and it only has to do with. You know, the contributions themselves can be withdrawn at any time tax-free, but it's the earnings. where the Roth has to be open for at least five years. And the clock starts on January 1st of the year, the first Roth IRA was funded, not each time you add money.
And you moving from one brokerage firm to another has no impact on that five-year clock. And so, you know, you should be in good shape here. If you open the first Roth more than five years ago, then those earnings are going to come out tax-free. Oh, okay.
Okay, well. I've actually talked to two different brokerages and got two different answers.
So I'll call you. Very good. I'm glad that you did. I appreciate you being a faithful listener, Forrest. If I can serve you in any way along the way, don't hesitate to reach out.
Hey, stay in the line. We're going to send you a copy of our magazine, Faithful Stewart. I think you'll enjoy it. We appreciate your call. Let's go to Texas.
Hi, Robert. How can I help you? Hey, Rob, thanks for taking my call today. Absolutely. So, unfortunately, and yet fortunately, quite surprised, we've come into some inheritance due to my father's passing.
Sorry.
So it's going to be about 200,000. uh after taxes and all those things. And our mortgage is one hundred and seventy five. It's what we owe. We don't have any other bills.
All of our vehicles, everything's paid off. But the question is, should we pay off that mortgage to get out from underneath the house payment and interest and those things? And then what should we do with the rest? Or should we just continue on making those payments. and then invest that money.
Yeah. I've still got kids in in elementary school and I've got 'em in college.
So I got a five of them spread out. Great. Yeah. Sounds like you're very blessed. And I'm sorry to hear about your father's passing.
A couple of questions, then I'm going to give you my thoughts. What is the interest rate on that mortgage?
So six percent. Wow.
Okay. And do you have an emergency fund separate from the $200,000 you're going to be receiving? Yes, I do. About $20,000. All right.
And any other debt whatsoever? None. All right. What about retirement? Are you on your way?
Have you been contributing consistently? No, we don't have any retirement. That all was a uh used up when our uh our company sold. And we went a little period of time with nothing.
So I see. We're starting over there. We have nothing put away. Understood. You know, the challenge is, in order to generate that 6% guaranteed return that you'd get by paying off that mortgage, you would need to generate somewhere between 7% and 8%, maybe even a little higher than that, in order to get the after-tax return that would need to be generated to cover that.
Guaranteed 6% risk-free return by paying off the mortgage.
So I think that is going to be the better option. And as a result, what I would probably do is go ahead and pay it off. And then aggressively take that mortgage payment and drop that into retirement accounts and try to use these next. you know, 15, 20 years, you know, whatever, however long the Lord leads you to work for pay until he redirects you to something else to really aggressively build those retirement assets. But what a great place that will be in terms of, you know, the peace of mind that you'll have.
You know, you can, you'll have some money left even after you pay off the house, you know, because you only owe 175, so you could use that to seed the retirement account. And then the only question will just be, you know, what retirement account do you use? And that's going to be a function of whether you have a retirement plan at work. If you're a W-2 employee or if you have your own business, do you have something set up? Do you know which direction you'd go there?
Yeah, we well, at work, they do have a 401k, but they don't contribute anything to it.
Okay. So. And they just established it probably four or five months ago.
So it's not really anything to look at.
So I would probably need to find something. Yeah. Well, I mean, the nice thing about that is even if they don't do any kind of match, which is too bad, but even if they don't, the nice thing is it gives you the ability, because you're over the age of 50, to put in 30,500, I believe it is, this year in 2025, which just, you know, nothing else is going to give you that kind of ability to contribute at that level. And the key for you guys is just to get as much as you can into a tax-deferred environment.
So, I think between that 401k and then you could each have Roth IRAs. And, you know, you could, between you and your wife, even as a non-working spouse, she can have a Roth as well. Again, over the age of 50, you could put in 8,000 apiece.
So, you know, between the two of you, you could put in that $16,000, then another $30,000 into that 401k. And that's, I mean, I'm not saying you have this much to put in, but you could put in up to 46 grand a year. Which is amazing.
So, you know, I kind of like the option of you paying off the house, but how have you guys been talking about this and how are you leaning?
Well, we've talked about it and we're We're able to make it happen. We're able to pay those bills, but it does keep it pretty tight. particularly with one in college, one going into college. and then still trying to plan for two more. Yeah, okay.
Yeah, the key would just be, and I realize those are legit expenses and they add up. Believe me, I've got two in college right now and two more still to come, so I know how expensive it is. I think the key would just be try to preserve as much of that mortgage payment to try to get, you know, into tax-deferred retirement accounts as possible.
So you're starting to build that nest egg for the future. There are other ways to pay for college, grants and scholarships and. You know, a community college for a period of time and working during the summer, and maybe one becomes a resident assistant to cover their room and board. I mean, you may need to get creative. But there are no other ways to fund retirement, and so I would really prioritize kind of recapturing as much of that payment, if not the whole thing, as possible, and get that into retirement plans, okay.
Okay. Very good. I appreciate it. Thank you. Absolutely.
Thanks for your call, Robert. We appreciate you. Folks, we're so glad to have you along with us today. We covered a lot of ground, but always look forward to being invited into your stories and taking you back to God's Word and helping you consider your financial decisions in light of.
Sound biblical wisdom. Let me say thanks to my team today. Certainly couldn't do this without them: Jim Henry, Devin Patrick, and Robert Youngblood handling our phones today. Here on Faith and Finance, we want to bring you God's wisdom for managing your financial decisions. You can learn more and listen to our broadcast archives when you head to faithby.com.
In the meantime, may the Lord bless you and we'll see you next time. Bye-bye. Faith in Finance is provided by Faith By and listeners like you.
