Are you looking for a financial professional who shares your Christian values and offers advice you can trust? Certified Kingdom Advisors are experienced financial, legal, and accounting professionals who have completed a rigorous certification program rooted in biblical financial wisdom. They meet high standards of integrity, competence, and stewardship, helping you honor God with all He's entrusted to you. To find a Certified Kingdom Advisor in your area, go to findacka.com. Over the coming decades, women will steward a majority of the wealth being passed from one generation to the next.
Hi, I'm Rob West. For many, that responsibility will arrive suddenly during seasons of grief, transition, or even new beginnings. Yet within that shift is a remarkable opportunity for wise and faithful stewardship. Today, Sharon Epps joins us to unpack the research and encourage women toward clarity, confidence, and joyful generosity. And then it's on to your calls at 800-525-7000.
This is Faith in Finance, biblical wisdom for your financial journey. Sharon Epp serves as president of Kingdom Advisors and also was one of the four founders of Women Doing Well, an organization that helps women grow in confidence and wisdom as they manage God's resources. Sharon, great to have you back. Always glad to be here. Sharon, we're seeing a growing number of women, particularly in later stages of life, become the primary financial decision makers after losing a spouse.
Tell us how common that is today.
Well, you almost can't pick up a financial magazine without seeing something about the wealth that's being transferred to women's hands. And the research consistently shows us that women inherit the majority of the generational wealth transfer. But it's because they tend to outlive their spouses by several years. And that places responsibility on their shoulders. In fact, you might be surprised.
What do you think the average age of a widow is? Yeah, I mean, I would expect it to be 65 plus. It's 57. Income. Incredible.
57.
So nearly all these women are inheriting from their parents as well as their spouse. And then many of them make their own income. And so it's just a big bunch of money flowing into these women's hands. And so in our study, we saw that nearly 95% of women at some point in their life are the primary financial decision maker. And that makes it important that they feel confident in making those decisions.
And many of them. Step into the role very unexpectedly. And so they're dealing with grief or transition even while they're doing it. And the shift is happening quietly amongst the generations, but there are real implications for both their confidence, their stewardship, and their generosity. Yeah, Sharon, that is striking, especially since so many women never expected to be in that position.
Now, women doing well began with research, but also listening.
So, what did the organization discover in the original survey about how women experienced that transition? Yes, when we did this survey several years ago, first of all, 7,300 Christian women responded. It's the largest survey of Christian women of its kind. That's incredible. And in that number, only 6% of the women said that they felt confident or equipped to handle the money that God had given to them.
And so there's this big gap between the burden or the responsibility and the confidence that they feel. And it showed us that the issue wasn't a lack of desire, but it was a lack of clarity. A lack of confidence, and oftentimes a lack of inclusion in the conversation. Yeah.
Now, I've had the privilege of seeing the data from this research, and one of the encouraging discoveries you made is that women are already remarkably generous. Talk about that. Yes, Christian women are deeply generous both with their time and their money. Research showed us that they're about 300% more generous with their money and 400% more generous with their time than other women.
So generosity isn't something that women need to be talked into. They care about it. It's already a part of who they are. And many women want to give well, not just give more. And that's an important distinction.
So the real opportunity is helping generosity grow out of a clarity and confidence instead of out of fear or obligation. Sure. And women doing well has also found that discipleship plays a major role in generosity. Share a Bit about what you've seen there.
Well, there was a strong correlation between biblical understanding of stewardship and giving a higher percentage of income. The more that we understand that God is an abundant giver, that he is generous with us, and that we're simply managers of what he's entrusted to us, it helps change how women and men, by the way, view what they have. And so, discipleship helps shift generosity from pressure to purpose. And it reminds women that giving is a response to God's grace and it's not a test that they're trying to pass. We're going to continue to unpack this just around the corner.
What's one takeaway from what we've learned so far? I believe that it's we need to share boldly biblical principles. Ah, yeah, that's core to what we do every day. Such an important topic, and we'll continue to unpack it around the corner, including with those sudden moments where women find themselves in this position. What are the next steps?
And how can women gain clarity? And confidence as they move forward. Sharon Epps is here today. She's president of Kingdom Advisors. A lot more to come.
Don't go anywhere. Are you a financial professional looking to grow your practice while offering advice that aligns with your Christian values? By becoming a certified kingdom advisor, you'll gain the biblical wisdom and professional credibility to serve clients who are seeking faith-based financial guidance. Each year, more than 75,000 people search for a certified kingdom advisor. Join our community and share your expertise with clients looking for someone who shares their faith and values.
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For licensing information, please visit NMLSconsumerAccess.org. Um Oh. Women will steward a majority of the wealth being passed from one generation to the next. Sharon Epps, president of Kingdom Advisors, is here today to talk about this incredible opportunity for wise and faithful stewardship. I'm Rob West.
Before the break, Sharon was sharing some incredible data just around the magnitude of the opportunity as women become the inheritors of this great wealth transfer that's occurring right now. And she's a co-founder of Women Doing Well, they conducted the largest study on generosity and stewardship related to women that's ever been conducted. Among other insights, most women want to give more and do better with what God has entrusted to them. Only a small percentage feel they're giving at their full capacity, and the desire is already there. It's just that the confidence and clarity are not.
And Sharon, before we continue to unpack this, it's always so helpful just to. Put a story, put some flesh on these insights. Do you have one you could share with us? Oh, I have so many, but let me just do this one. I'll call her Clara just for anonymous purposes.
But she came to us and she had been giving and giving generously, but she inherited a large sum of money, wasn't sure what to do with it. And one of the things that she said was, I am pulled so many different directions. I feel that I give just a dab here and a dibble there and a little bit the other place, and I just don't feel like I'm making a difference. And so we had the opportunity to walk her through this process of clarity. She began to actually narrow her giving, but increase the amount because it aligned with her calling.
In fact, she walked away and said, You've given me the freedom to say no, so I can say a better yes. Oh, wow. And that really underscores that idea that the desire is there. It's just the confidence and clarity is often lacking. Sharon, for many women, this responsibility arrives suddenly.
Suddenly and without preparation.
So, when that happens, what would you have women in that position to know and what should they do first?
Well, the first thing I would say is let them know that they're not alone. There are people willing to help them. And I'll go back to one of my mentors, Larry Burquette, who always said, In the first 12 months of grief, don't do anything drastic. You will need to make some decisions, but don't feel pressure that you have to make a lot of changes. And so, sometimes you feel behind, you're not equipped.
I would encourage you to reach out to a certified kingdom advisor, a trusted advisor who can lead you from a biblical perspective. I think the other thing I would say is bring a friend with you that's not deep in the grief process. It could be a family member, but oftentimes it's someone that is very trusted, but not necessarily wound up in your financial decisions that could be a listening ear and help you along the way. That's so helpful. We talked about this lack.
Of clarity, let's dig into that a bit more because it occurs both financially and with regard to purpose.
So, how would you counsel women to navigate that?
Well, I think the more you understand how God wired you, the more clarity you'll have about how He's encouraging you to steward your money. And so, if you don't have clarity on that calling or that purpose, I would encourage you to start there as opposed to where do I give my money because God often aligns our wiring, our heart, our passions to where He would have us invest. For instance, many women I know that have been involved in adoption or foster care, either being adopted themselves or adopting kids on their own, are very passionate about giving to adoption and foster care ministries. And it all ties into the story that God's writing in their life. That is so good.
Now, I know you've seen measurable outcomes when women gain the clarity and confidence you're describing. What tends to change as they engage in this work?
Well, if we've studied this, nearly 80% of women have actually increased their financial giving as they got. More clarity. And equally as exciting, they've increased the time that they're giving both intentionally and purposefully. Because, again, it's this whole life alignment between your generosity of your time, your money, your skills with your purpose and your passion. And as an outcome, these women report greater peace, more confidence, and love to bring others along with them, by the way.
Yeah, that is so good.
Now, the element of freedom really matters. The story you shared at the beginning of this segment talked about a narrowing of generosity.
So, generosity doesn't mean saying yes to everything.
So, how would you help women to grow without feeling pressured?
Well, what I would really say is generosity flows out of identity rather than out of obligation. And so, any point I begin to feel fearful or pressured into giving, it's a good little yellow flag to stop and really pray about: is that what God wants me to do with his money? And remember that. You're not the only person that can help this ministry or this cause. And God is preparing another steward that may be a better fit for the ministry or cause.
And so I think that's one of the things that gives you freedom is to know that you're giving someone else the opportunity to step into their purpose while you step into yours. Sharon, as you know, we have a lot of financial advisors listening to this program. And one of the pieces of advice you shared to women today was to find a certified kingdom advisor to journey with. I'd love for you to take a moment and talk to those advisors. What would you want them to know about serving these women well?
Well, advisors, I would love for you first of all to know that you need to put your notebook away as you start serving these women. I know that as experts, we want to bring the notebook with all the facts and the figures and the graphs. And what she really needs is to know that you understand and that you care and that you want to listen. I would also encourage you, just on a very practical note, and even for women clients, this is good for you to know as well. Give the woman two or three action steps.
Very practical. Here's what you need to do in the next week or the next month. And make it clear to her that there are some things that aren't essential immediately. We can deal with those later. But here's the one or two things that you really need to do that are time sensitive.
And just make it doable, small bites that she can handle.
Now, let's get super practical for a second. If all of their conference rooms have large board tables, would you recommend at least one with a round table? Absolutely. You knew the answer to that already, Rob. I love round tables.
They're very relational. That's so good. All right. Let's finish today, Sharon, by speaking to the women that are listening that perhaps someone in our listening audience today or many that feel overwhelmed or uncertain about where to start. What word of encouragement would you offer to them?
Well, it's like everything else new. Financial knowledge begins one step at a time. And so all we are required to do is just take the next step. And God's already been at work in your life. He entrusted this money to you for a purpose.
And so it actually can be an adventure to figure out what God wants you to do with it. Confidence comes through learning and small acts of obedience. And I also want to emphasize it comes through community. Don't go it alone. Gather others around you that can be a part of your conversation.
Yeah, I love that. Sherry, we've got 30 seconds. One final story that comes to mind.
Well, I think I just love the story of a group of women that got together and said, you know what, we are getting more and more clear in our purpose and we've got in alignment in a passion area. In this instance, it was actually for sex trafficking, rescuing those and sex trafficking. And so they came together and said, what if we did more together than we did? We can do alone. They formed a giving circle and started giving together.
And now they call it the adventure of giving because they have so much fun determining where it goes. Oh, Sharon, this has been a delight, so practical, and yet just a powerful reminder of the opportunity women have as they steward God's money. Thanks for being here today. Always a pleasure. To learn more about the work of women doing well, go to womendoingwell.org and to find a certified kingdom advisor to journey with you, go to findacka.com.
That's findacka.com. Back with your questions after this: 800-525-7000. Stick around. Have you ever started a budget only to watch it fall apart a few weeks later? You're not alone.
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Praxis aims to bring a faith-based approach to ETFs, mutual funds, multifund portfolio solutions, and money market accounts, reflecting their 500-year-old Anabaptist Christian faith tradition. More information is available at PraxisInvest.com. Great to have you with us today on Faith and Finance. We're taking your calls at 800-525-7000 to Indiana, WGNR. Hi, Greg.
Go ahead. Yeah, Rob, it's just a couple different questions. One When looking for a mortgage company, uh when buying a home I would like to be able to put down at least half what I know to purchase another one in the future. because I actually have two homes to sell. I just want to have to stagger them, I know, one this year and then one later.
But I didn't know if there's any key questions to ask mortgage companies or what to look for, definitely for interest rates to get us as low as possible.
Okay. Yeah.
So you're looking to sell two properties and then you're going to take the proceeds and buy just one new property or are you going to buy multiple? Just going to buy one property and we're hoping to spend anywhere from four hundred to four hundred fifty. What we're seeing the price range around our area here. like I said, we'd like to put like at least half down to get that payment down and go to a 15-year mortgage. But I don't know if any mortgage companies, there's any better questions to ask or what to look for.
Yeah, very good.
Well, I like your plan a lot. I mean, I think the key is to start with, assuming you have good credit, I suspect you do, you're going to want to make sure, number one, you get a really competitive rate.
Now, am I hearing though that when you sell the second property, eventually you will be free and clear? Or do you plan to keep this mortgage in place even beyond the sale of the second home? When we sell both homes, they will be completely Paid off, and the additional proceeds will be going to purchasing another home. We'd like to have new, but we definitely do not have to. We just like to take that money and spend the majority of it by putting it a good share down on the new home.
maybe have a little leftover, especially if it's a Existing home, some need to be a little updated, and we're willing to do that if needed, but just want cash on hand to do it. Yeah, makes sense. Yeah, so I would start with that interest rate. Make sure you're getting a competitive offer. I think second is the range of loan types.
Now, you probably are just going to take a conventional loan, but to the extent you wanted, you know, you qualified for a VA loan or something like that, you'd want to make sure that they offer those. You're going to want to certainly look at the fees and closing costs.
So, what are those origination fees for processing the loan? Compare that with other charges like appraisal, credit report, underwriting fees. You want a lender that's upfront and transparent about all those fees.
So, you don't want any of that on the back end. You want them to be, you know, provide you everything right up front. And then, I would just do some reviews on their reputation. You could look at online reviews just to see what are people saying about them in terms of their responsiveness, their pre-approval process, loan processing times, those kinds of things. I'd also make sure you get at least three bids, and I'd probably get one.
Of them from our longtime underwriter here at Faith and Finance, movement mortgage at movement.com/slash faith. But they're all pretty standard. And again, you're not going to be with this for too long, and they're probably going to sell the servicing to someone else anyway.
So the key is get those low costs, get that competitive rate, and you should be in good shape. Thanks for your call. Down to Florida, Alan, go ahead. Yes, sir. Thank you, Rob, for taking my call.
And As always, sharing with your call manager. I've been listening for many years now, and about five years ago, my wife and I.
sought out and found a CKA And we've been very pleased with his Service and performance. Our portfolio. This month, he he has left the firm that he's with And he's now gone out on his own. And so we'll be meeting with him next week. We have had a conversation with the the existing farm.
And they have informed us that for us to close several of our accounts, it'll be two hundred fifty dollars for each account we got to close. There's about four of them, which would be like a thousand bucks. And our previous management fees that we agreed on was one point four two percent with our CKA And they've said, well, we can drop that to one point two five if we stay with them. They've said they don't have a CKA In their Um firm now. And but they said they would honor our biblical desire to do biblical investments They they did kind of mention that they have you know, they felt like they could outperform what we've been doing.
So we are kind of just seeking maybe your counsel too to get a little more of a peep about moving over to our CKA. Yeah.
Well, I appreciate that. I'm delighted to hear that's worked out for you. And I do recognize, you know, advisors do move around from time to time. That $250 per account is a little high.
So that's a little surprising. I would expect that to be more in the $50 to $100 range. For an account transfer. Nevertheless, it is what it is. And, you know, I think the key is what's more important to me than $1,000, even though I don't want you to spend any money unnecessarily.
But what would be more important to me is that you have a good fit with that next advisor if you didn't end up going with this current relationship. And so, you know, even more than just their promise to continue a faith-based approach with the investments, which I would be a little questioning of that, just because, you know, that's not something the average advisor is going to be familiar with.
So you'd probably want to have them explain a little bit more what that means to them, honoring your faith in the investments. What actual investments do they have experience with that would be screened for Christian values? And can they show you anything more about either how they performed or what actual investments or fund families they would be using? How those particular investments are screened, either negative screened. Screening out companies that are misaligned or positive screens, or they're screening in companies that are specifically aligned with the Christian values or both.
And then, you know, I think who is that advisor that you're going to be interfacing with? Because you'd really want to make sure there's some compatibility there in terms of just his or her style and approach and how often you're going to meet together and just their ability to be really curious and do the, you know, the meaningful discovery about who you are and what God's doing in this season of your life. Because there's more to it than just performance. And I think there is something to be said about those shared values where you've got an advisor coming to the table who's authentic to his or her own faith, understands the counsel of scripture, and can help you navigate these decisions. Those would be more important to me than the $250 times four that you'd lose by going with this other advisor, which has done well for you, and it sounds like you've had a great relationship.
So I wouldn't say you automatically need to go, but I would wanna know a lot more about who you're gonna be working with and how that person is going to go about it. before you make that final decision, if that makes sense. That does. I appreciate that. And of course, we have questions for our advisor, like.
What happens if he passes away? Who to whom who to manage our farmer and all that, you know, those things. I think that's great. Yeah, I mean those are the right questions to be asking.
Well, listen, sounds like you have a little bit of work to do here, Alan, but I'm confident you'll end up in a good spot. If I can help you with any specific questions as you evaluate that final decision, don't hesitate to reach out.
Well, folks, that's gonna do it for us. Big thanks to my team today. Certainly couldn't do this without them. Grateful for Amy and Dan and Anthony and Jim. Also, thankful for everybody here at FaithFi that makes this organization happen every day.
We'll see you tomorrow. Faith in Finance is provided by FaithFy and listeners like you.
