This Faith in Finance podcast is underwritten in part by Timothy Plan. Good news! Since 1994, Timothy Plan has shared good news with investors and advisers by offering a family of funds that honor your faith. Learn more at TimothyPlan.com. Mm-hmm.
Faith-based investing is expanding rapidly, and new tools are opening the door to more thoughtful stewardship. Hi, I'm Rob West. As more investors seek alignment between conviction and strategy, ETFs have become one of the most talked-about vehicles. Today, Brian Mumber joins us to explore the opportunity faith-based ETFs offer investors. And then it's on to your calls at 800-525-7,000.
That's 800-525-7,000. This is Faith and Finance: biblical wisdom for your financial decisions.
Well, our guest today is Brian Mumbert, president of Timothy Plan and a pioneer in faith-based investing. Brian, great to have you back. Thank you, Rob. Great to be here. Before we get into ETFs, Brian, Exchange Traded Funds, I'd love to zoom out for a moment.
Timothy Plan has, of course, been part of the faith-based investing conversation from the very beginning, more than two decades now.
So, how do you see Timothy Plan's role in helping Christians think differently about investing, both then and today?
Well Rob, back in 1992, back in the 90s, Timothy Klan was an idea. And then in 1994, it was actually a concept turned itself into a mutual fund. And the original idea was that we would be a retirement plan for non-denominational pastors. In fact, our very first slogan was: How much is okay to invest in abortion or pornography? And the answer is simple: not a penny.
Right. And we've held that for a long time. And as the years have passed, It's really become a movement. You know, it's investing that begins with the heart. You know, what we treasure shapes how we steward things.
And we tend to want to be owners of the money that God has entrusted to us. And if we are stewards, it's really more about how God would have us invest this money that He's entrusted to us. And ultimately, that's where Timothy Plan and other faith based firms have really pushed this idea is how to invest the money God has entrusted to us. Yes, I think that's the right question at the heart of all of this.
Now you and I have seen dramatic changes since nineteen ninety two, and there's some real momentum right now in this space. From your vantage point, Brian, what's driving that momentum? If you go back 30 years ago, it had to be a proof of concept. And now information is so readily available. You know, back when we started, it was so hard to find information on these companies, what they were doing, where they profited from, things like that.
And now it's in front of our faces daily on social media.
So it really drives the conversation, it gets people thinking. Where am I investing, or how am I participating in these companies that I might disagree with? And with increased options, you have. You know, more enthusiasm that's out there. People just need to be discerning, obviously.
But there are many faith-based companies, including Timothy Plan, that are really offering compelling investment options for Christians. including as ETFs alongside your longstanding mutual funds.
Now, for a listener who hears that term, they've heard it before, but they don't quite understand it, break it down in simple terms and explain why investors are drawn to these investment vehicles. Absolutely. ETFs are exchange traded funds and they hold a basket of investments and trade throughout the day like a stock. And that might be a little bit more intimidating than a mutual fund where you can just buy it and you get the price at the end of the day. But the benefit is that these can get offered at much lower costs, usually as a passive investment.
And there's really great transparency. You can go on our website or other websites of other ETFs and see every holding at all points in time. It's just it trades like a stock. You can liquidate it whenever you'd like. Even in the middle of the day, you don't have to wait till the end of the day.
Yeah. Timothy Plan offers ETFs that are faith-aligned. And I'd love for you to just share a little bit about what sets your ETFs apart, both in their construction and the convictions behind them.
Well, every Timothy Plan product is a pro-life, pro-family product, and that's where we hang our hats. These ETFs are screened and filtered the same way as our mutual funds. They are volatility weighted, and so it really helps to minimize the impact of large market corrections.
So we don't end up holding large positions of any single one company in these ETFs. But the screening process, as I said, is still the same, and the convictions haven't changed. Really, just the investment vehicle has. Yeah, well, it is so encouraging to hear that the landscape of faith-based investing is really growing and changing in positive ways. More transparent tools, better access, and stronger values-aligned options.
Christians have a growing opportunity to invest in a way that aligns with their values as Christ followers. Brian, thanks for your partnership and for being here today. Thank you, Rob. Brian Mumbert is president of Timothy Plan. You can learn more about their ETFs and other faith-based investment funds at TimothyPlan.com.
That's TimothyPlan.com. We'll be right back. Money touches nearly every part of our lives, but scripture tells us it also reveals our hearts. Hi, I'm Rob West. In my 21-day devotional Our Ultimate Treasure, I invite you on a journey of scripture, reflection, and prayer to rediscover what faithful stewardship really looks like, not just in your finances, but in your heart.
You can get your copy of Our Ultimate Treasure at faithfy.com/slash shop. That's faithfy.com/slash shop. 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. Uh Yeah. Great to have you with us today on Faith and Finance.
I'm Rob West. Wow, looking forward to taking your calls and questions today as we get into what you're thinking about in your financial life. Here's our heart. We want to help you live as a wise and faithful steward as you manage God's resources. We all have that high calling on a daily basis, but we don't often think about it in that light.
So, part of what we want to do each day is help you think about it that way. Understand the heart of God as it relates to your role as a steward of God's resources. We steward, once we give our lives to Jesus, everything, our time and our relationships, we're stewards of God's word. And yes, we're stewards of the financial resources entrusted to us.
So, our goal each day is to help you think about that, put it under the lordship of Christ and recognize He is our ultimate treasure and money.
Well, it's a tool to accomplish God's purposes.
So, today, whether you're thinking about paying off some debt or Maybe you're thinking about investing for the future, whatever is going on in your financial life. We'd love to process that with you.
So, call right now. We've got some lines open. We're ready for you. 800-525-7,000. Again, that number is 800-525-7,000.
Let's begin in Illinois today. Linda, go ahead. Hello, Rob. Thank you for taking my call. I love this program.
What housing option do you have? for someone who's living on a mutual fund, I don't have any income coming in. I have many health challenges. that will keep me from gaining employment.
Now those my monthly expenses are two thousand twenty four a month.
So those funds are going to be depleted within the next two years or so.
Okay. I'm sixty years old and I I will try to file for Social Security disability. I'm sorry, I was denied disability. For regular Social Security, that would come up to only seven hundred a month.
So I'm looking for housing options. and medical affordable medical health insurance. Yeah. Well, it's wise, Linda, to be thinking and asking these questions before your savings are gone. You know, planning ahead is going to give you more options than if you wait until a crisis point.
I think there's a few things to understand here. First of all, most housing assistance programs look at both income and assets, but the eligibility rules vary widely by program and by state.
Some programs require assets to be spent down first. Others focus more heavily on current income. Programs like Section 8, housing vouchers and other subsidized housing options, typically prioritize income, but long wait lists are possible.
So it's really important that you apply early.
Some nonprofit and local housing programs are more flexible and can offer transitional support.
So could be rent assistance, even senior housing options before your savings are fully depleted. And then I would say downsizing, relocating to a lower cost area or moving into shared or age-restricted housing can sometimes stabilize costs before assistance is needed. But I think the most important step you can take now is to get informed locally.
So, I would contact as a next step, if you haven't already, your local housing authority. You would want to reach out to area agency on aging and even nonprofits in your area to understand what programs exist. They're going to be able to help you understand how eligibility is determined and how long the wait lists might be. That way, you're positioning yourself proactively rather than reactively. Have you looked into any of these local options yet?
No, I haven't because I thought they were income based. You had a bit low income.
So no, I haven't looked at them. Yeah, I think that would be a good next step.
So, you know, in the public housing offers rental units. That are owned and managed by local public housing authority, and the rent is typically based on your income. And so that's going to help low-income families and seniors. There's also a voucher program, which is the Section 8. And so that's going to help low-income renters pay for private market housing.
But again, those wait lists can be longer. And then there's federally subsidized options as well.
So I would probably reach out to your local housing authority. You could go to ilhousingsearch.org for the state of Illinois. You could call the local public housing authority, search by your city and county for Section 8. And then you could call 211 on your phone. That's the hotline for housing and social services.
And just begin that conversation to find out what options exist for you. But, Linda, keep us posted along the way. We certainly will ask our faith and finance community to be praying for you as well. I know this is a lot weighing on you. Thanks for your call.
Waukegan, Illinois. David, go ahead, sir. Yes, thank you for taking my call. My wife just passed within the last two weeks. Oh, dude.
And I haven't paid a bill in 25 years. basically she took care of everything. I don't really have a budget of any type. before she passed of cancer, we tried to reach out to the CKA and we didn't get anywhere with that. And I just don't know where to turn.
I've shut down some credit cards, and I've been told not to shut down too many credit cards at one time. Yeah, yeah. Yeah Yeah.
Well, we're going to help you, David. First of all, I am so sorry to hear about your wife's passing. You're going through a really difficult season right now. We're going to ask the faith and finance community to be praying for you. I'll certainly join you in that.
I realize you were not the one who handled things. And so we need to get somebody to come alongside you who can help you put all the pieces in place. The biggest thing right now is not to make any major life decisions, but to keep everything paid and current. And then we'll settle into a new rhythm here with regard to managing your finances. What I'm going to have you do here in just a second is hold the line, and I'm going to have one of my team members get your name and information.
And we're going to get you connected to one of our certified Christian financial counselors. This is going to be somebody who's trained in all the things you just described: spending plans, budgets, how to manage debt, how to control the flow of money in and out, getting everything kind of in place with regard to understanding what are your assets and your liabilities. And then, on a monthly rhythm, moving forward, you know, how do you operate and set up a plan that works for you and your temperament and your wiring? We're not trying to make you an accountant, but we want to, you know, get you into a good rhythm where everything's current and you've got a good system. And that's where they can walk alongside you over several meetings via the phone or, you know, a video conference.
And as long as we need to, we'll walk alongside you until you feel like you're in a good place, okay? Yeah. Thank you. Happy to do it. And I'm going to pray for you here in just a second.
But, David, listen, our hearts go out. The Lord is going to walk alongside you. We're going to pray the Holy Spirit would be really near to you. And we know the Lord has told us in His Word, He's close to the brokenhearted. And we're going to walk with you financially.
And we're going to get you to a place where there's not a lot of questions anymore, but you've got a good plan and a good rhythm for how you're going to manage things moving forward. And then we know that God has more in store for you before we all reunite with those that we love in heaven someday. Listen, hang on the line. We'll get your information, get you connected. Father, we just lift David up to you.
We know, Lord, he is in a difficult spot right now. Thank you for the hope of heaven. Thank you that we know that those who know and have placed their trust in you are with you, absent from the body, present with you, our Father. Lord, we long for that day to be reunited with you first and foremost, but with those that we love as well. I pray that you'd walk alongside.
Him, you'd be near to him, bring just a multitude of people around him that can love him and encourage him, and that through Faith Phi, we'd be able to help him financially as well. Thank you. I ask all this in Jesus' name. Amen. God bless you, David.
We'll be right back. 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 faith5.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.
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That's chministries.org/slash faithfi. Thanks for joining us today on Faith and Finance. Taking your calls and questions today at 800-525-7000. That's 800-525-7,000. Let's go to Orlando Blair.
Go ahead. Hey, thanks for taking my call. My question is sixty six, and our thought is of paying off my mortgage, uh we can afford it. monthly and all that, so that's not the issue. But I just feel like I'm playing with house money with the market right now and wondering if it it'd be wise to pay the house off And it would maybe take about less than 10% of what's in the 401k right now to finish doing that.
Or just keep the money in the market and keep making monthly payments. Yeah. Makes sense. Great question. What is the balance on that mortgage?
It's a hu it's about one hundred and eleven thousand.
Okay. Yeah, and you said pulling that would take about ten percent, is that right? Yes.
Okay. Maybe less. Good. Blair, you certainly could go that direction. You know, I think at the end of the day, this is both a math equation, but it's more than that.
There's tax implications, and then there's just your convictions spiritually and a peace of mind element as well. From a purely financial standpoint, one way to solve for this, just given the performance of the portfolio, is rather than just paying off the home and keeping the investments the way they are, you could begin to get more conservative with the investments.
So, you know, move more toward fixed income and less toward stocks, just as a way of preserving the capital that you have and taking less risk.
So if the market was down 20 or 30 percent, because we were in a recession, your portfolio wouldn't be down that much. And then just continue paying on this mortgage over time, even if you wanted to accelerate it by sending a little extra each year, but you wouldn't take it all out at once, which would create a tax situation because if If you're taking a $111,000 distribution in one year, that's going to increase your income by $111,000, which is undoubtedly going to push more of your income into a higher tax bracket.
So there's going to be a cost to that.
So, I think one approach is you leave everything like it is. You just keep paying off that mortgage just like you are now, knowing that that's inexpensive money, if you will, because it's at a very low interest rate and then get more conservative in the portfolio. The second option is you say, no, we really do want to be debt-free. Even if we were to get more conservative on the portfolio, we'd like to just get this behind us. Then you may want to look at pulling the money out over at least two tax years, if not three.
And then I think this third scenario is we just feel a conviction from the Lord to be out of debt. And I would say, just take the money, pay it off, and be done with it, and don't look back. And I think any of these are viable options. I think it's just a matter of thinking through your priorities. But give me your thoughts on all that.
Yes, no, that's good. And I one thing I neglected to bring up was that we would have about forty percent of that that we could would not have to pull out of the four hundred one K. We just have some cash sitting on the side that we could use and not get hit with a tax burden on that piece. Yeah, yeah. So that's nice, obviously.
So that would reduce the amount that you're pulling out to about 70,000, but still all of that would be subject to taxable income. And keep in mind, a big windfall like that could trigger something called the Irma, which has to do with your Medicare premiums.
Okay. Oh, well, that's not an angle we thought of, so I appreciate that. Yeah, absolutely. That would look back, that wouldn't hit you for a couple of years because the Irma, the income-related monthly adjustment, is based on your modified adjusted gross income from two years prior. But two years from the year you pull that money out, you could find yourself with a considerably higher premium for that year.
Now, it would eventually drop back down, but not without you having a cost related to it.
Okay, great. Thank you. That is the kind of advice we were looking for.
So we've been going back and forth and praying about this, and this helps us. Thank you very much. Absolutely, Blair. Listen, all the best to you, my friend. We appreciate your call today.
Lord bless you. Let's go over to Tampa. Esther, go ahead. Hi, thanks for taking my call. I have a question regarding.
Chapter thirteen. I've never filed chapter thirteen, but due to the income Of the household, we don't qualify for chapter seven. There was a loan that was taken out a couple years ago. Um our vehicle was um put in as collateral. the vehicle um died on us.
And we wanted to go back to the loan and see if they can deduct the $2,500 that they had it would be valued at. And then we needed another vehicle because we both worked, and so we kind of stopped paying on the loan.
Now we're being sued. for the remaining balance And so I don't know if it's better to do chapter thirteen. Because there's more fees involved. and it brings up the total amount that we'll owe or Debt consolidation maybe? Yeah.
Uh, makes a lot of sense. And at the end of the day, you are going to need some legal advice. And I'm not an attorney, and so I would always encourage you to get the counsel of an attorney. Basically, when you know, here's when chapter 13 makes sense: if you have regular income, you want to stop the lawsuit immediately. You know, typically it's where you have multiple debts.
In your case, it sounds like there's just one. You know, you're behind on the payments, you just need time to catch up, but you want the protection from the garnishment or the collections. And so, filing automatically stops the lawsuit. There's a stay, and then the auto loan would become a part of the bankruptcy plan. And then you could repay perhaps only a portion of the debt.
You could stretch the payments out over three to five years, but you get the structured repayment and the court protection. It's going to be on your credit report for seven years. It's going to require, you know, consistent planned payments. And, of course, to your point, Is legal fees.
Now, with a consolidation, you have to have good enough credit to qualify, stable income. You've got to make sure the lawsuit hasn't progressed too far. And then you need a creditor that's willing to settle. But once a lawsuit is filed, often creditors are less willing to negotiate, and the consolidation lenders don't want to lend at that point. That doesn't give you protection from garnishment either.
And so, you know, that's ultimately going to come down to, you know, which option you go with. And that's where I think you need some legal counsel, somebody to kind of walk alongside you. And just given the reality of this situation and how it's progressed to this point, you know, what option is better for you, if that makes sense.
Okay. Well, thank you so much. God bless you guys.
Okay. I appreciate you, Esther. I know this is a lot. You'll get through it. And, you know, if you don't have an attorney, maybe call your church and see if there's a church member there who specializes in bankruptcy representation, but somebody who shares your values who could come alongside you and give you some wise counsel.
Call back anytime if we can help. Folks, I'm so thankful for you and the opportunity to be able to come alongside you each day and hopefully be an encouragement to you, points you back to God's word and really points you toward God as your ultimate treasure. You know, the opportunity we have to manage God's money is a big deal. We'll ultimately give an account for it someday. And so we want to help you live as that wise and faithful steward.
We'll gather together tomorrow to do it all over again. In the meantime, big thanks to my team today: Taylor Standbridge, Pat Montague, Devin Patrick, and all the team members here at Faith Five. We'll see you tomorrow. Faith in Finance is provided by FaithFi and listeners like you.
