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To learn more about making a positive impact in the world through your portfolio, please visit investments.onascent.com or speak with your financial advisor about OneAccent Investments today. Kids are always watching, especially when it comes to how we handle money. Hi, I'm Rob West. Every purchase, every act of generosity, every moment of contentment quietly shapes how our children learn to view God's provision. Today we'll look at five practical ways to build a biblical financial foundation for the next generation.
And John Cortinez joins us to help unpack them. 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.
Okay.
Well, it's always a joy to have John Cortinez with us as the Director of Partnerships and Growth at the McClellan Foundation and a trusted FaithFi contributor. John helps us see how God's truth speaks into every part of our financial lives, and that certainly includes how we shape our kids and their financial foundation. John, great to have you back with us. Good to be here with you, Rob. Thank you.
John, your article in the latest issue of our Faithful Steward magazine highlights how families can build a strong financial foundation for their children. And you begin with that rich passage from Deuteronomy 6 on diligently teaching the next generation. I'd love for you to unpack that a bit and how that passage guides our approach to financial discipleship at home.
Well, that's right, Rob. In Deuteronomy six seven we read Repeat them again and again to your children. Talk about them when you are at home and when you are on the road. when you're going to bed and when you're getting up. And this passage reminds us that teaching our kids about God is an all-day, everyday calling, and that certainly includes financial discipleship.
So, this shouldn't be, in my mind, a lesson that we give once or a class we have our kids take. It's actually the way we live day by day and the way we explain God's ways of handling faith and finances to our kids or grandkids. Money is actually one of the most tangible ways that we have to disciple our children. And these verses just remind us that that faithful teaching happens in rhythm and relationship over time with love. You know, John, it's interesting.
I want to camp out there just for a second because, you know, a lot of people will resonate with the idea that, yeah, we need to teach our kids financial literacy, the dangers of debt, and the power of compound interest and living within your means. But this idea, this statement that you just made that money is one of the most tangible ways to disciple our children, that may be a new idea for people, huh? Absolutely. You know, kids absorb values before they can balance a checkbook. And so, all those mechanics of money, like you said, that's super important.
But the heart of a steward is far more critical. And so I'd say, let's focus on that. What our kids see and feel about money. As we know, this is true for adults too. It's going to influence and interact with their heart posture toward God.
So, as parents or mentors, when we can model trust and gratitude and generosity around our money journey, those lessons are going to sink really deep for our kids. And the goal here, again, we want them to have the hard financial skills eventually. But first of all, let's focus on hearts that love God more than possessions and find joyful contentment. That is so well said. John, you highlight the power of storytelling, something, of course, Jesus used constantly.
So, how can we as parents share our own money stories to form our children's understanding in this area? Oh, well, this is great. You know, even in another place in scripture, 2 Corinthians 8. Paul is teaching about money to the Corinthians, and he tells a money story from the Macedonians.
So these money stories move our hearts. You know, rather than telling kids, hey, it's important to always have some cash on hand.
Well, that's true and that's good, but why not tell them that crazy story about how you got stranded one time with no cash and what you learned the hard way? Yeah. I think that'd be a lot more. Memorable. And similarly, instead of saying, you know, we've got to trust God with our money.
Well, that's true. But what's even more powerful is to say to our kids, you know, last year we had to trust God more than ever financially because here's what's happened. And tell that story of how God showed up, how we sought to be faithful. And in fact, at an age-appropriate level, I would be honest with our kids about seasons of sacrifice or. Maybe debt we shouldn't have had and how we got out of that, or even scary generosity that God called us to.
Those stories are going to tie our everyday money decisions back to God's ongoing faithfulness in our lives. Boy, that is so good. John, have you seen that in your own kids' lives as you've engaged them around some of these stories? Oh, it's been so good. And, you know, I've found that.
As we just talk our way through our daily stewardship, our kids start asking us questions about money, which is great. And so it becomes a two-way street. Yeah, no doubt about it.
Well, we're going to continue with this conversation after the break and get even more practical. How can you lean into this opportunity? Remember, more is caught than taught. The question is, what are we as parents modeling as it relates to money? Because this is one of the primary issues.
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Brighten a child's future today at faithfi.com slash cross. That's faithfi.com slash cross. Um I'm sure you know kids are always watching, and that's especially true when it comes to how we handle money. Today, we're talking about how we can build a financial foundation based on God's word for the next generation. And to help us do that, is my friend John Cortinez.
He's director of partnerships and growth at the McClellan Foundation. He's also a trusted Faith Phi contributor, and he's written an article for our recent edition of the Faithful Steward magazine, highlighting how families can build a strong financial foundation for their children. If you'd like to receive every issue, go to faithfi.com/slash partner to learn more. John, set the stage for us again for somebody who's just joining the conversation. Why is it so critical that we think about the role of money in our kids' hearts and that we're modeling that from the earliest of ages?
Well, absolutely, Rob. You know, money is one of the closest issues for our hearts. And it's so critical to set the right posture for our kids. Before the break, we talked about Deuteronomy 6:7, that classic verse that just says, talk about God's law when you're walking on the way, when you're lying down, when you're getting up. And we can apply that today of talking to our kids about our financial journey and having a heart of discipleship so that we can teach them God's ways and ultimately help them draw closer to God through financial discipleship.
Yeah, that's right. Let's talk about one of those key areas we want to emphasize when we're discipling our kids in this area, and that is generosity. You encourage families to celebrate generosity. Give us some thoughts on what that looks like in everyday life.
Well, great. You know, and the big idea here is not just to give, which is faithful and good and beautiful, but to celebrate generosity, to model it for our kids as an exciting and dynamic part of our life with money and God that our kids can catch a vision for.
So, here's just a couple ideas on this. One would be, Maybe once per year, have a nice family meal where you focus with your kids on all the giving that you've done that year. What organizations have you supported? Your kids may not even know about that, including your local church. And then let your kids ask questions about them all.
Maybe you can play a video from one of those ministries that's really compelling, tell a great story of impact. And it's an awesome opportunity to just celebrate and thank God together that your family has been a conduit of blessing for the world. And I would celebrate not just the amount, like, hey, we're impressed with how much money we gave. No, actually, the important part is the heart and the purpose behind each gift.
So that's one big idea. Let me give you a smaller tactic as well. One thing my family likes to do If we're going to make a really big gift, you know, everything's electronic now, so maybe it's happening on a laptop, but we'll actually gather the kids around the laptop, pray over the gift, and count down together until we press the give button. And that's a way to take kind of that digital giving world that we live in, but let's make it a little more tactile so that we can enjoy it together. Oh, that is a fabulous idea.
John, one of the things we see in scripture is just celebrating milestones and remembering God's faithfulness. And I appreciate how you draw attention to ordinary milestones, paying off a mortgage, saving for a trip, hitting a goal, as moments loaded with teaching potential.
So talk to our listeners today about how they can use those experiences as opportunities for discipleship. That's great.
Well, you know, everything that we do in life, of course, as we know as adults, has a money decision behind it. And so explaining to our kids the habits, the patience, the prayer that made those milestones possible. You know, just as a really tactical example, if you buy a car, Talk to your kids about how much cars cost. And you're praising God for the provision of a vehicle on your driveway. But then let's say you did the ideal scenario and paid cash for it.
Well, the car didn't just appear there. You've been saving hundreds or $1,000 a month for a few years, and you can explain that to your kids. And that again lays the foundation of the story where they go, oh, if I want a car someday, I'm going to have to save two.
So, with a grateful and humble heart before God, we can also explain our stewardship process. And I think that really lays a foundation for our kids. Mm, that is so good. Let's talk about contentment. You make a strong point about modeling contentment.
We all want that for our kids. Why is that so central to a child's financial formation?
Well, you know, kids pick up on what truly satisfies us and drives us. And I would just say watch our language and our actions as the adults. We can't take our kids somewhere we haven't been. And so hopefully we're walking in biblical contentment. But if we watch ourselves, are we always talking about how we really need a new phone or a better car or wishing we had a nicer, bigger house?
Man, if your kids hear that, that will rub off. But alternatively, If our kids hear us thanking God for the provision of what we have, even if it's not perfect, God has blessed us with it, that is going to come through as authentic contentment that will start to shape your kids' attitude around money and their own life journey. Yeah. John, one of the things that is just, I think, ravaging this younger generation is sports betting. We have an article in the recent issue of Faithful Stewart on this very topic.
But you draw a clear line between gambling and investing. How can parents help their kids understand the difference?
Well, this is such a big deal. And I'm so thankful that FaithPhi is pointing to this issue. I'm sure everybody out there has heard ads for sports betting, and they're all around. A Supreme Court case in 2018 made this legal in the U.S. and it's spreading state by state.
And I would just say this: younger men are the prime targets of these companies, and they prey on them. It shows up in Proverbs 1. It's talking about evil fools. And it says, Let's swallow them alive, like the grave, and whole, like those who go down to the pit. We will get all sorts of valuable things and fill our houses with plunder.
That is what sports gambling companies are essentially saying about young men. And research is showing that sports betting can change the way your brain is wired. You're more likely to become a gambling addict, especially the younger you start. And if you listen to the It's Ads and you get into this world, they will try to convince you or your kids that this is like investing. Man, if you're smart, if you know your team, you're going to make some money on these little bets you can place.
So I'd say, let's teach our kids this is a trap that will trap you and consume you and your hard-earned money. It's an addiction that can kill.
So that's the difference between investing and gambling, right? We want a model for our kids that real investing builds slowly over time and is expected to gain value. But gambling plays on impulse and emotion and dopamine hits, and you're expecting to lose money if you get in on the gambling.
So don't let the advertisers be the ones to tell your kids about sports betting and lure them in. Take control of that conversation yourself and protect your kids. Yeah, that is really good.
Now, when we talk about the healthy ways of investing, you make this important point that telling your kids that we're saving and investing for their future is actually really impactful when it comes to how we're shaping our kids. Why is that so important in your view? Oh man, when our kids know that we're saving for their future in a very practical way, it says, Hey, I believe in you. You're going somewhere. And so I'm planning ahead with you in mind.
And they've actually done some academic research on this about college. And when a kid knows that their parents are saving for their future college education, they're more likely to choose to go to college. You say, why is that?
Well, It builds trust and a vision of hope for the future. And it also models faithfulness. It shows our kids that stewardship is long-term, it's other-centered, and it involves planning ahead.
So I think it's a really powerful thing when I say to my kids, hey, I could buy something I want, a sports car, some other toy, and that'd be fun. But instead, I'm investing in your future needs because I love you and I believe in you. Mm. John, we're about out of time. What's one thought you'd leave our listeners with on this topic?
Well, I'd just say in the spirit of our whole conversation, look for one teachable moment this week and explain to your children the stewardship, the finances behind something in your life, and just express your faith in God as you're walking with Him in your faith and financial journey. Folks, if we want wise stewards tomorrow, we have to model faithful stewardship today. John, this has been a gift. Thanks for your time today. Thanks so much, Rob.
Appreciate you. That's John Cortinez of the McClellan Foundation. He's also the author of five strategies for shaping kids' financial foundation and our latest issue of Faithful Steward, our quarterly print magazine sent exclusively to Faith Vi Partners. If you want to learn more or become a Faith Vi partner, go to faith5.com/slash partner today. We'll be right back.
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It's our final segment. We're taking your calls and questions today on anything financial, helping you apply the wisdom from God's Word, the principles and passages that we see on money. By the way, there's 2,300 of them to your financial decisions very practically. And so, if you have a question today, we actually do have some lines open now. We didn't earlier in the broadcast.
So, if you've got a call right now, you can get right through. 800-525-7,000. We'll probably have room for two or three more questions before we round out the broadcast today. Again, 800-525-7,000. You can call right now.
Debbie is in North Carolina. Debbie, go ahead. Colin about some life insurance. My husband has a group, Universal Life Insurance. He has had since a job he had back about over 20 years ago.
And I'm wanting to find out what's the best way. Should we keep that at this point? We're both right at 65. Or should we transfer it over or get something else? Yeah.
Well, whenever it comes to life insurance, I think the first thing you need to realize is don't ever cancel it until you fully understand what you're giving up and what you still need. But you're right. Essentially, this is a permanent life insurance policy offered through an employer. You're paying the premiums through payroll deduction generally, and it builds some cash value. But the rates are usually not very competitive compared to policies you can buy on your own.
Many times, you know, the costs also rise pretty steeply with age, and the cash value grows very slowly.
So, I think the first question is always: do I still need life insurance at all? You know, if the mortgage is paid or close to it, the kids are grown, you and your husband have sufficient savings and retirement income, or you're on your way to having that, then you may not need life insurance anymore. You know, the goal of life insurance is to replace income or pay off obligations, not to keep it forever. Except in certain situations. You know, there are reasons to have permanent insurance if you have a lifelong dependent, or maybe you own a business with a buy-sell agreement that you're using life insurance to fund and you need that permanently.
But for most people, The cost of the insurance is only necessary to offset the risk that exists during your working years. And then you drop it and you hope you don't ever have to collect on it. In the same way, you hope you don't ever have to use your homeowner's insurance or your car insurance, but you still have it.
Now, what happens if you leave your job?
Well, most group policies end when you retire, or you can convert them to an individual policy. And obviously, your health status matters. You know, if you have health issues, that could affect whether you qualify for new coverage. But if you're healthy, I would say: first question is: do I need insurance? And if yes, you can likely find cheaper private term policies or other types of policies outside of the group policy.
You know, that could serve you better. And if you have any cash value, you know, a lot of times you can either take that money or roll it into another policy without taxes.
So I would say don't cancel it yet, but review it. And I think you're on the right track here that you could probably find something better.
Okay, that sounds good. All right. Thank you, Debbie. Appreciate you. Yes, ma'am.
Thank you for calling. God bless you. Let's go to Tennessee. Greg, go ahead. Yes, sir.
I have a question. It's regarding my retirement. I I'm retired law enforcement. And we have a system here is called this Tennessee Consolidated Requirement System. And uh I no longer matching that it draws five percent on its own.
But I work for another company that also I have a four hundred one K. Um My question is, is do I leave my investment through my retirement for law enforcement by itself, let it keep drawing its own Or do I roll it over into My nut. Yeah, it's a great question. And, you know, I think, first of all, the TCRS is a pension plan, probably. And so, if you're vested in that, if I'm understanding what it is appropriately, then it'll provide a guaranteed lifetime benefit, typically calculated based on your years of service and your salary.
So that 5% you mentioned is the interest credit or the growth rate on the contributions, not an investment return you can manage directly.
So, what you would typically do is you leave it in the TCRS, it stays protected, it continues to earn interest until you retire, and then you're going to get a monthly pension for life, which is a powerful form of guaranteed income. If you move it out through a rollover, you're giving up that lifetime income guarantee in exchange for market control. And flexibility. And so I think the reason you may want to leave it there is it's safe and it's stable. It's backed by the state.
The 5% interest credit is solid and it's guaranteed. And it provides a predictable pension stream later. The reason you would consider rolling it over is if it's a cash balance. You, you know, then you could assume investment control and the ability to combine the accounts, which creates for easier management. And you might get more investment choices.
You could get a better, potentially higher long-term growth rate on it. And so I think the first question, really the key question is: is this money part of your pension benefit or is it a supplemental account? If it's a pension, I'd probably leave it for the lifetime income. If it's a cash balance or a defined contribution portion, then I think rolling it to your 401k. could make some sense.
If that is helpful. Yes, sir. Very helpful. You know, it it's it's a pension benefit. You know, I was able to match 5% on top of what the state matched.
And then, you know, I do a a five percent now.
So that's what I was wondering. should I move it to my current and keep mashing towards it. But I mean, either way, I'll have two retirements just to copy up the crawl. Yeah, and you're contributing to that new 401k, right? Yes, sir.
Okay.
Yeah, and you're getting 100% of the match. Are you contributing enough to get the full match? Yes, sir. Yeah, good.
So definitely do that. And then you keep both of these growing. You'll have one where you can control it and just let it grow with the market. You'll have the other that's growing on that guaranteed basis that you can convert to an income stream later. The two of those working together plus Social Security and any other assets are going to make for a really nice retirement income strategy.
So I like it.
Okay, well, thank you very much for your time and allowing me to be on the show. Absolutely, Greg. Lord bless you and thanks for your service to your city and to our nation. God bless you. Well, folks, that's gonna do it for us.
So thankful that you were along with us today. It was fun to be able to tackle your questions and hopefully just bring you some encouragement from God's word around our role, our high calling of managing God's money as stewards, seeking to be found faithful. That's our goal. Let me say a big thanks to my team today. I certainly couldn't do this without my producer, Devin Patrick, handling our call screening today, Sandy Dickinson, and providing me great support and research, Mr.
Taylor Standrich today. Also, thankful for everybody here at Faith5. Listen, if you want to check out more on Faith Phi or consider becoming a partner, we're listener-supported. That'd be huge. Just go to faith5.com/slash partner and we'll come back and see you tomorrow.
God bless you. Bye-bye. Faith in Finance is provided by FaithBy and listeners like you. I know.
