FaithFi: The Mission

You've probably heard the saying, if you aim at nothing, you'll hit it every time. But do you know who coined it? Hi, I'm Rob West. Christian author and speaker Zig Ziglar gets credit for that famous quote. It urges us to set goals and stay on mission. What are our goals and what's our mission here at FaithFi? Well, Chad Clark fills us in today and invites you to be a part of it all. And then it's on to your calls at 800-525-7000.

That's 800-525-7000. This is Faith and Finance Live, biblical wisdom for your financial journey. Well as executive director here at FaithFi, Chad Clark helps us all stay on mission. Chad, great to have you back with us. Thanks for having me. So Chad, people who hear us on the radio, perhaps visit our website and use our FaithFi app, have an idea of what we're all about.

But I'd like to get very specific for a moment. Why does FaithFi exist? Yeah, I'm grateful that I get the opportunity to talk about this because I love what we're about here at FaithFi. Our mission is to equip Christians with tools and resources to integrate faith and financial decisions for the glory of God. And the important piece about this is that the faith comes before the finances. Because our vision is that Christians would see God as their ultimate treasure. Because when they do, when God becomes primary in their heart, their financial decisions simply are an outflow of a love and devotion for Him.

But He has to be primary, not secondary. You see, we believe that money is simply a tool. It's not inherently good or bad, but what we do with it can be good or bad.

Yeah, and that's the why behind the mission. Now let's talk for a second about the how. Yeah, there's a lot of different ways that we help people integrate their faith and financial decisions for the glory of God. One of them, the biggest piece of what we do is this program that you're hosting every single day, Rob, and just serving our audience so well, answering questions, and just pointing them back to God as their treasure.

So grateful for you and your just servant heart and taking care of our audience and our listeners every single day. You can also go to faithfi.com and get a number of different resources, articles and videos to help you on your stewardship journey. And we built our FaithFi app around this idea of helping you practically apply what you hear on the show and you see on our website to making financial decisions. We just launched FaithFi 4.0.

It's a beautiful new redesign and we hope that you'll check it out and see how it can help you better steward the resources God has entrusted to you. And the final thing that we do here at FaithFi is our brand new study series, which we're so excited about. We recently launched a study called Rich Toward God on the Parable of the Rich Fool earlier this year. And we're looking to launch a new study this summer on financial fear and anxiety. And these studies are designed to help you go deeper into God's Word, to again, treasure Him and to see how money can be a tool to be used for His glory. So everything we do here at FaithFi is really around this idea of faith and financial integration. And we want people to grow in their faith and their ability to make wise financial decisions. And we're so encouraged when we hear stories like Courtney, who has been listening to this program, who has taken seriously the principles that she hears, and has been able to really follow the leading of the Lord when it comes to the direction He has for her life.

Let's listen to Courtney's story right now. Thank you so much for this program and everything that you do. I've just learned a tremendous amount of wisdom with finance and how to kind of tackle investments. So you always would say to save up three to six months of an emergency fund before you make any kind of crazy investment. So I started doing that. And almost to the exact day that I saved up six months of an emergency fund, I lost my job, and God called me into global missions. So because I had the six months emergency fund there, I didn't have to be frantic and look for a different job. And I was able to really focus on my ministry and go to training that I needed to do.

And I expedited that entire process. And I literally leave for the mission field in January. So without this program and your advice, who knows where I would be right now, but I just wanted to call in and just say thank you so much for everything that you do. Chad, that is why we do what we do. Now, that doesn't happen without people joining us on that mission, right?

It really doesn't. We need help from our community of faithful stewards. And I'd love to invite you to partner with us as we near the end of our fiscal year on June 30th. We're still $50,000 shy of our fundraising goals. So if you've been impacted by this ministry, I'd love to invite you to partner with us by going to faithfi.com slash give and helping us continue to make stories like Courtney's possible.

That's exactly right, Chad. Really appreciate you stopping by today. Thanks so much. Folks, if you want to join us on this mission, as Chad said, this is a critical time for us to hear from you. To support our work, go to faithfi.com and click give.

That's faithfi.com and click give before June 30th. Back with your questions after this. Stick around. The opinions offered during this program represent the personal or professional opinions of the participants given for informational purposes only.

Any information provided is not intended to replace advice from a financial, medical, legal, or other professional who understands your specific situation. Well, I'm so glad to have you with us today on Faith and Finance Live here on Moody Radio. I'm Rob West. Always great to have Chad Clark stop by and join us on the program just to give a bit more color commentary to where we stand in terms of reaching our fiscal year end goal here at FaithFi. Our goal for this month is $50,000, and the good news is some generous supporters of the ministry here at Faith and Finance Live have stepped up with a $50,000 match. So every gift this month is being doubled. $100, $200. $300 is becoming $600.

$500 is becoming $1,000. Now, we're $16,000 into that $50,000 goal, and so that means we've got about $33,500 to go and about nine days to do it. The good news is, again, every gift is doubled on the way to that remaining $33,000. So if you would be in a position to help us, maybe you've found the program helpful to you.

It's been an encouragement. It's been a part of your own stewardship journey, and you want to bless the ministry here as we try to close out our fiscal year. We'd love for you to do that by June the 30th as we head toward filling that gap of $33,000 more. Every gift is doubled, and we would invite you to give even today when you head to faithfi.com and click Give. That's faithfi.com and click Give, and we'll keep you updated between now and June the 30th.

Thanks in advance. All right, let's turn our attention to your phone calls today. Whatever is on your mind today, we'd love to tackle it with you. That number to call today with your financial question is 800-525-7000.

That's 800-525-7000. We'd love to hear from you, and we do have some lines open here on a Friday, so you can call right now. Let's dive in. We'll begin in Noblesville, Indiana. Hi, Hank.

Go ahead, sir. Yeah, I've got two kids that are in college right now. 20-some years ago, my grandfather set up a 529 for each of them. He passed in 2010, and I had another daughter that was born in 2010. I'm curious, with the money that's left over when my two older kids graduate from college, if there's money left in their 529s, can that be applied to my younger daughter's college education?

It sure can. Yeah, what you would want to do is either do a plan-to-plan rollover to another child, or you could just do a beneficiary change. And so, in your case, you may just want to do a beneficiary change, and then you won't need to transfer any money. And it just allows another qualifying family member to use those funds, which includes brothers and sisters and a whole host of others. So, you'll just want to get in touch with your 529 plan administrator and let them know that you want to do a beneficiary change to that other child, and you can go from there. Okay. When she finishes college, then could we, if that was all combined, could I split that apart into three different accounts then again so each child would have one for their future families? Yeah, so what you would do is you would open another account, and then you would be able, at that point, to transfer a portion to do a plan-to-plan rollover into another account with a different beneficiary on it.

And that would be the way you'd do it if you want to split it up among other children. All right, perfect. Thanks for your help. I appreciate it. All right, Hank, thanks for your call today. We appreciate you. 800-525-7000, the calls are coming in quickly.

We have just two lines open. We'll be getting to those here in just a moment. Also today on the broadcast, Jerry Boyer stops by on our final segment. He's got some updates on recent developments in the world of corporate engagement.

He'll also update us on the economy and where we stand today. Before we head back to the phones here in just a moment, in the news today, buying a home got a tiny bit easier this week as the average rate on a 30-year fixed mortgage ticked back to its lowest level in just two months. It was also the third week in a row that the rate declined, if only by a fraction. Still good news.

We'll take it. It fell to 6.87 percent, and that's down from 6.95 percent last week. Now, that's still higher than the rate a year ago, which was sitting at 6.67. The average rates on 15-year mortgages also fell from 6.17 down to 6.13. I know it's not a lot, but every little bit helps prospective homebuyers by lowering their monthly payments. Recent data showing slower economic growth is seen as putting downward pressure on inflation and could influence the Fed to start lowering interest rates from their highest levels in 20 years.

Jerry Boyer will weigh in on that. We also saw some good news if you're an existing homeowner about home prices. The median price of an existing home sold in May at average price $419,300. That is a record high price in the realtors recording since they started recording it. It's never been that high. And by the way, that $419,300 as a median price in May is up 5.8 percent year over year.

We're up 47 percent since pre-pandemic levels. Because we just don't have enough homes in this country, it's pretty basic supply and demand. That's what's been keeping these home prices up where they are. And regulations, home builder costs, the cost of borrowing, supply chain issues during the pandemic, all have contributed to fewer than necessary homes being built in this country. We're trying to resolve that, but it's really going to take a reduction in these interest rates to see any meaningful progress there.

In the meantime, home prices, although they're beginning to level off some, we're certainly not expecting any declines. Very interesting. All right, let's head back to the phones here. Let's go to Ohio. Hi, Joyce, go ahead. Hello.

I have this, I bought this little, I'm 77 years old, my husband to whom I was married since I was 22, passed eight years ago. And one, our grandchildren live in Iowa and Arkansas. The one in Iowa was going to gymnastics.

She has a gymnastics coach in Minnesota in a lovely area. And I wound up buying a little cottage up there about three years ago. And I did take money out and I had to pay capital gains and all that. Wasn't it wasn't as bad as having to think I would be dealing with some kind of big mortgage. Well, the place was built in 1901.

And I now she her gymnastics coaches of 45 minutes from them in Iowa. So as darling as it is, I'm looking to sell it. But I heard your program a couple years ago and was listening intently. And you had said something about capital gains and being able to, to go like forward a percentage of giving a percentage of the capital gains to charitable institutes or a family or whatever. I'm not sure how that was.

I don't know what to do with it. It's because I, I'm glad it was there because I, the money I took out kind of took a dive anyway. And so now at least I have it in, we do have a couple of rental properties. Yeah, very good.

Um, I'll give you my thoughts here in just a moment after the break, but quick question, have you already identified where you want to give the money or are you just kind of thinking about it in general terms at this point? I heard you, you would be, I'm not saying there's good to say it, but it's things like I've been gaining or benefiting from you are like, that's pretty good. Okay.

Yeah, that's helpful. Let's do this. I've got to take this quick break, but on the other side of it, Joyce, I'll give you my thoughts.

This is a great question and what an opportunity to give to God's kingdom. We'll be right back on faith and finance live. Stay with us. Great to have you with us today here at faith and finance live. I'm Rob West. We're taking your calls and questions. We've got lines open the number to call 800-525-7000. That's 800-525-7000.

We'd love to hear from you today. Before the break, we were talking to Joyce in Medina, Ohio. Joyce has a property. She's actually got several properties and one of them she's looking to sell. It is not her primary residence and so therefore on any of the gain that she has, she would normally be subject to capital gains and she's got a generous heart.

There's been a lot of ministries that she and her husband had funded over the years. There's things she'd like to do with that money to advance the kingdom and she's not been able to do that. She sees this as one possible way to have more resources available as she liquidates this property for kingdom giving and she's wondering should I give it away before I sell it because she had thought she'd heard me mention that in a previous broadcast.

Joyce, you're exactly right. Many real estate investors have a heart to give charitably but feel hindered by their limited cash flow and the growing taxation of their investments. What you do is you give the interest in the appreciated real estate and this can be raw land or residential or even commercial real estate. You give it away prior to any potential future sale and then that allows you to avoid the capital gains tax on the gifted portion and then you would likely receive an income tax deduction for the fair market value of the gift which frees up additional cash flow for even more giving and then once the property is sold, then that portion that was given away whether it was a portion of it or the entire thing would then go into what's called a donor advised fund and think about that like a charitable checking account except now you'd have more in there than you could have otherwise because you don't have to reduce the amount available by anything that you'd be paying to the IRS because you've eliminated that capital gain and you now get this larger deduction when the money goes in to the donor advised fund without capital gains and so that's even going to hopefully reduce your tax liability which also gives you more forgiving and then you'd be able to distribute the money out of that donor advised fund by making recommendations on grants to your favorite charities, ministries or your church at any point and you could do it right away or you could wait and do it over time. The best way to do that is with my friends at the National Christian Foundation so NCF for short was founded in the early eighties by Larry Burkett and Ron Blue and an attorney named Terry Parker. It's a ten billion dollar charity now but they don't create their own giving strategies. They're simply there to help God's people like you give wisely and so they have all the attorneys on staff, they have all the structures in place so essentially as you transfer the property to NCF they could get it sold for you and then the proceeds would go right into your donor advised fund just for you and then at that point you could begin giving it away. It's fairly simple to do and it's very tax advantaged which just means you have more kingdom impact because you've got more money to give away but does all that make sense?

Oh my goodness I was following that and because I listened to it once before a couple years ago it doesn't I've been taking notes. NCF how do I contact them? Yeah so let's do this I would love to get somebody in touch with you and make that match because I'm thinking of one person in particular that I think would just be fabulous to kind of walk you through all of this so if you don't mind Joyce I'm gonna ask you to hold the line I'm gonna have my team get your information and I'm gonna get someone from NCF to actually reach out to you directly if that's okay.

No no it's more than okay I'm not afraid to give tears thank you. You're so sweet I'm just delighted Joyce that we've been able to be an encouragement to you but even more than that that you're gonna be freed up to follow the leading of the Lord to give to his kingdom and to advance his purposes in any number of these ministries that are aligned with your heart so it thrills me to death that that you called today and we're delighted to do it. You stay right there we'll get your information and be in touch with you. God bless you that's so good.

Let's go to Michigan. Hi Pamela how can we help? Yes I am wondering how to determine if we my husband and I should have life insurance? Yeah it's a great question so the purpose of life insurance is to offset a risk that exists namely a risk where loved ones who are depending upon you as a provider would lose that provision that at their death and when you get beyond your working years typically now there are some isolated cases where you need it because you have a lifelong dependent or something like that but typically when you get beyond your working years there's not no longer a risk there because you've accumulated your assets you're living on a retirement account you're living on Social Security and if the Lord calls one of you home the other is not going to be in a hardship at all because the assets and the income streams are already in place and so the life insurance at that point is unnecessary and it's an expense that can go away in that season of life but with that explanation in mind Pamela tell me where you all are at. Well the reason I'm asking is currently I am retired my husband is self-employed and we go to Florida for part of the year and it seems that we struggle to live when we're in Florida just on our Social Security and my concern is if my husband passes or becomes income yeah if he passes for me to live just then on his Social Security would be very difficult. Yes and what is his age?

Because our expenses really would be the same. Sure sure no I totally understand that what is his age? Oh Pamela did I lose you are you still there? All right it looks like we lost you we'll see if we can get you back but here's the bottom line yes so life insurance would make sense if he's even 60 perhaps you get a 10-year policy the goal would be to get to a place through taking a portion of what he's giving through that self-employment income and continuing to fund retirement accounts like a SEP IRA or something like that so at some point you no longer have a need for the life insurance but during his working years absolutely and that's where a term policy really makes some sense I'll see if I can catch you off the air and we'll be right back stay with us. Great to have you with us today on faith and finance live some great questions today by the way Jerry Boyer will stop by here in the next segment we'll look forward to hearing from Jerry on the economy and updates on some really interesting corporate engagement work that's been going on but I had a chance to follow up with Pamela during the break she's wondering if life insurance is necessary her husband's 67 continuing to work as a self-employed person and she's saying if he were to pass you know I don't know that I would have enough to cover my bills just taking on his survivors benefits we did in that is Social Security we did get to unpack this a bit more she'd have a close to half a million in addition to that if they sold one of her rental properties that she's got or an additional property that she's not using of about three hundred fifty thousand and we believe that the income off of that half a million plus her survivors benefits on Social Security would be enough but we also talked about her getting just a maybe a hundred or two hundred thousand dollar term policy for the next ten years on her husband's life payable to her as the beneficiary just to add a little bit more to the equation to give her a little bit more buffer if the Lord were to call him home and then the goal is over the next ten years as her husband continues to work to continue to put money away and build up that half a million to something you know even more hopefully six or seven hundred thousand so anyway great questions and always an important one as you think about when is the right time to drop life insurance in in a retirement season of life all right let's head to Akron hi Joy how can I help you hi Rob I have a question about an inherited IRA yeah my husband inherited two IRAs from his mom who died in 2020 we haven't taken any distributions yet and I know that that secure act you know is now you're required to withdraw it all within ten years right and so my my question is you know are there advantages to starting to withdraw it or is it better to just wait and do like a lump sum withdrawal yeah yeah it's a good question and you know I like the idea that you'd leave it in there as long as you can because if you guys don't need this money I'd rather it stay in the tax deferred environment and you take out as little as necessary and you could talk to your CPA about what that is you are correct about the secure act mandating that non spousal beneficiaries which you and your husband of course are have to be withdrawn from the inherited IRA within ten years but in that tax deferred environment especially with it invested I'd love for you to keep that money growing for you and then just take it out as you need to and then at that point we've got to figure out kind of where to put it you're gonna have to pay the tax on it so now it would be after tax dollars and then you could turn around and continue to invest it in a taxable environment where you're paying capital gains each time you have an appreciated stock that or bond that's sold or you could try to you know funnel it into a Roth IRA or you know some other vehicle but I think to answer your question I'd try to leave it there as long as you can okay all right yeah all right you're welcome thanks for your call today we appreciate it let's go to Florida and Prudencia thank you for calling how can I help yes thank you so much for your time and your program I do some calling my mom just passed and she left the house she still has the mortgage of 125,000 on it yeah and the loan is a VA loan and I don't really know what to do with this property so let me reach out to you yes yes yeah so the the challenge is here you know VA loans are assumeable so that would be the first option is to see whether you could assume the loan but let me just clarify are you wanting to hang on to the property for some reason or would you rather just go ahead and sell it yeah okay yeah yeah yeah so let's let's think through that here for a moment give me just kind of a rundown of your financial situation what do you have in just what I would call emergency savings all right and what do you have in investable assets okay is that in a retirement account or in a taxable account IRA okay what else yeah and I also have about 50,000 in another investment like annuity okay all right and then do you have any debt yeah I have my house I still have about 180,000 mortgage on it all right and what is that worth I think should be about 300,000 right now okay and then in addition to that property that has the 180,000 that you're living in you've got now your mom's property which is a separate property correct correct okay and what's the value of that do you think um maybe she told you could be about 100 it could be about 250 to 300 in value okay and what is the mortgage 170 or 125 right 125 right okay now talk to me about your cash flow what income sources do you have okay and is that enough to cover your bills yes and do you usually have something left over yes okay about how much okay do you know what the mortgage payment is on the your mom's va loan uh you mean like yeah what she's paying she was paying every month yeah she's paying she just got a new insurance so she's paying almost like 1800 a month okay so I guess that's the first thing I mean assuming you could assume it right because you wouldn't want to go out and get a new mortgage with rates where they are but assuming you could assume it which va loans you typically can can you afford you know an 1800 a month payment well I'm thinking if my son and the wife could move in there and be paying that okay that's another option that I was discussing with them okay yeah well here's the thing I mean you're in pretty good shape I love that you've got the IRA money you've got a healthy savings account you've got an annuity you're on track for retirement in seven years you don't have a lot of debt other than your primary residence let's make a goal to get that paid off by the time you retire if you can and so you've got options one is you can make this a rental property and get a renter in there the second option is you put your son and your daughter-in-law in there and they pay the mortgage and that's great because that keeps the property and then eventually you could sell it and make it a part of your your retirement assets the third option is you go ahead and sell it now and you don't have to fool with it and then you hire an advisor to manage that you know roughly 120 or 125,000 the difference between what it's worth and and the mortgage so I think you just need to pray on this talk to your son and daughter-in-law see if they actually want to live there if they do then that sounds like a great option if they don't then I think you just need to decide do you want to be a landlord because you know that requires some work it's not a passive investment you're gonna have to deal with maintenance and you know plumbing issues and the things that come up along the way and you just want to make sure you don't put yourself in a situation where you're overextended if you lose the renter for a period of time hope that gives you some things to think about Prudentia God bless you thanks for calling we'll be right back on faith and finance live Hey great to have you with us today on faith and finance live I'm Rob West hey in this segment we're joined by Jerry Boyer Jerry's our resident economist he checks in with us each Friday during this segment with his update on the markets and the economy we also check in on corporate engagement and Jerry I know you were recently at a conference connecting with a lot of others that are working in this space and seems like there's some momentum now among believers and the organizations that they're a part of to really speak their values to corporate America isn't that right yeah there really is I think the shift away from just complaining to engaging is underway and I think it's because over and over again when I talk to people who are investors and increasingly talking to ministries churches etc they're there they're like he says in the in the Bible about Lot who was vexed by what he saw in us and excuse me in the Sodom they're vexed but they feel like they can't do anything and we're pointing out to them that actually they can if you own shares you can vote if you own shares you can attend the annual meeting or you can ask me to attend the annual meeting on your behalf happy to do it if you own $2,000 worth you can put a proposal on the ballot you can talk to investor relations you can do a lot and the folks who've been pulling companies in the wrong direction they knew that they learned these rules a long time ago and they've been pulling them around by the nose and we've been complaining from a distance well we were apathetic for a while and then we're complaining from a distance and so I'm seeing this mainstreaming I can't say a lot more I'm just saying that there's a lot of conversation going on with Christian nonprofits denominations money managers etc ministries who are waking up to the idea that wait a minute you know when somebody gives us appreciated value of stock or when they when they're given contributions and they you know use that for pension plans for employees they now have a voice with these companies and they're ready to start exercising that voice and I think it's not a moment too soon it's late but it's not too late yeah that's well said Jerry and the good news is it seems to be working in fact you were sharing in the earlier today about a recent example of that related to Google share that with us yeah so there was a proposal on the ballot of Google by Planned Parenthood itself so you know often it's some activist group but in this case it was Planned Parenthood the leading abortion provider although it seems like provide doesn't seem like the right word but whatever the leading abortion monger seller and what they wanted is for Google to tweak their algorithms so that if somebody went on the Google machine and said you know abortion they would only get pro-abortion search results they wouldn't get crisis pregnancy center they wouldn't get the other choice now what they're doing is they're not being so explicit as to say we don't want the competition they're saying it's misinformation that if somebody's googling they must be looking for abortion services and therefore they must not want you know alternatives to abortion like adoption and therefore it's misinformation to give them that in the search result and so you have to be responsible Google and get rid of the misinformation which basically means censoring crisis pregnancy centers by the way crisis pregnancy centers pay advertising fees as many do to be you know put higher up in the search results so basically they would be testing to Google do something you know take the money from these customers and then don't give them the product which means they won't be customers for long so not only is it morally reprehensible it's also bad business you don't get ahead in business by doing to customers something that will cause them to not do business with you any longer all right we've seen a lot of pro-abortion proposals over the past three years and they peaked you know about two years ago and they started to do pretty well some of them almost passed which in that in that world almost passing in a corporate proxy is really close it's really important it really influences policy but there's also been falling off for the past couple of years and it bottomed out here with Google so going back a couple of years ago some of these proposals to say divest from pro-life states telling companies to get out of pro-life states might have gotten 40% or more in this case at Google it got less than seven percent that's the worst score we've ever seen for any of these companies that are trying to use the or any of these activists that are trying to use the proxy process to push companies in a pro-abortion direction they have failed and I sit in on their meetings the other side because they have these webinars and I just you know sneak in you know log on and listen they are lamenting the fact that they just cannot get support for these pro-abortion resolutions and that I'd say it's largely going to disappear so that is a decisive route for the anti-life forces in corporate engagement so how does that happen does that happen because we're powerful we have lots of votes no it doesn't we don't have a we don't have a ground game all we have is truth and exposure and we're learning that the reason that these things were getting high votes is because they were sneaky the proposal name wasn't let's kill babies right the proposal name is something like risk of doing business where there's lack of health care access or risk of misinformation in search results see they didn't really say what they were about in a way that's clear for people and you have to kind of read through the proposal to find out what's really going on so all we've done susan boyer and i here in the dining room we read them and once we read them then we could talk to people in the press and say here's what's going on there are anti there are pro-abortion proposals there are anti-israel proposals lots of them coming they came about this year and just by pointing out what they really are people are waking up and they're voting against this terrible stuff and in terms of how they you know use strategies to mask what these really are you're seeing examples of that with even these israel proposals right very sneaky these israel proposals who like if i came to you and said hey should we get a report uh from amazon uh or a report from trip advisor or you know a hotel chain about the risk of doing business in a war zone well sure sounds risky to do business in a war zone read the fine print and what they're really saying is trip advisor don't let people don't let people book trips to israel uh or um hotel chain don't build any hotels on the west bank um so you know israel isn't actually a risky place there is a war zone but it's kind of outside of israel right but they're trying to turn it in they always try to do this they always try to turn it into risk management or the other one would be due diligence in customer relations well that's what amazon what is that well shouldn't we all have due diligence and who we sell products to well sure but what it really means is israel's a war criminal don't let them have access to your amazon cloud um and that's why the sneakiness is a feature in the beginning when they first start this stuff and people don't know but then it's a bug when we finally figure out what they're doing and then raise the red flag and then people start voting against it but it's still not there yet i happen to know i won't use the name yet a high profile asset manager not one of your sponsors high profile asset manager who's talking to the press about how upset he is about what's going on in columbia and these other places with the attacks on israel i look at the voting record of these funds they're voting for these things so this really asset managers investors institutions churches ministries whatever they have to get on top of this because they are voting they may not know they're voting but they are voting and if they're not paying attention to it or they're not depending on someone to pay attention to it there's a high probability that they're voting anti-religious liberty pro-abortion that they're voting for the thing that they hate they're they're letting somebody take their voice and their money and use it against everything they believe in wow well jerry well done and uh we're grateful for that update thanks for the incredible work you're doing you and susan and the team all right give us a quick update we've got about a minute just on the economy what are you seeing well past couple of weeks the economy has been saying hey the you know the fed's probably um gonna cut rates and you know um and therefore the you know it's gonna it's gonna be putting money into the system and that'll be good for the markets but today that turned around see that's how quickly it can go back and forth between the two mandates um and and because housing prices were so high today that's really important for young people the starter home is a thing of the past because housing prices were so high today they said inflation might not be beat maybe the fed's gonna have to not tighten again or not loosen and then markets the dow stayed flat but the interest rate sensitive markets went like the nasdaq went down so once again it's the same story markets are moving not based on the fundamentals of the economy markets are moving based on how they think the fed will react to the reports about the fundamentals in the economy that's not the way it's supposed to be that is the way it is yeah that's the new economy we find ourselves in all right jerry appreciate that update again thanks for your great work my friend and uh look forward to having you back next week all right god bless you you too bye-bye that was jerry boyer our resident economist let's round out the program today in bradenton florida hi dorothy go ahead hi rob thank you for your ministry hi so rob i was calling about your um program i heard before on a reverse mortgage for my mother who's 90 years old sure we actually was in conversation with um movement movement mortgage and we started the process but i kind of got cold feet because of the fees uh so i'm just wondering what you what what your thoughts are about moving forward with this well you know it's it's a great question and you know are there fees more than a conventional mortgage on a reverse mortgage absolutely i mean you've got the initial mortgage insurance uh premium to the fha which covers the fact that you won't ever have to worry about the loan value growing more than the home's value because they'll step in and pay it if you do that's two percent right up front and then there's a half a percent per year for annual mortgage insurance premium and then there's a few other fees origination fees and then some smaller ongoing fees in addition to the interest of course i think the key is um you know i think the the fees are reasonable the big idea is does it make sense as a part of your the tools in your toolbox for this season of life if you have the ability to get out of debt completely and cover your expenses with your income great do that and be completely debt free but if you find yourself or you have in this case your mom finds herself where she's in this season of life she's sitting on a bunch of home equity and she's struggling to pay her bills then i think the reverse can make a lot of sense because it can give her you know the ability to either eliminate a mortgage or get a monthly income stream that might be the difference in her being able to cover her bills and have the care she needs and enjoy the rest of her life and then at her death that mortgage balance is paid off and the rest goes to you and your siblings so i like it a lot if it fits let's do this you and i can finish up off the air stay right there faith and finance lives a partnership between moody radio and faith by thank you to tiara amy dan and jim have a great weekend we'll see you on monday