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Learn more at Praxismutualfunds.com. From Jeremiah 29 7, we know God's people should seek the welfare of the places and people around them. But is seeking the welfare of our community something Christians can pursue by means of investing choices? Hi, I'm Rob West and I'm speaking today with an investment manager who's been seeking the welfare of cities all over America and the world by his advocacy work with corporations.
Investors have the opportunity to influence decisions made behind closed doors by corporations as we'll hear today. Chris Meyer joins us today with a look at how this kind of advocacy works. And then it's on to your calls at 800-525-7000. This is faith and finance biblical wisdom for your financial decisions. Well, we always learn something when Chris Meyer is on the program. Chris is manager of stewardship, investing, advocacy and research at Praxis Mutual Funds and underwriter of this program. Chris, great to have you back.
I'm happy to be here. Now, one way, Chris, that Christians can align their investments with their values is by screening out companies that are involved in ungodly practices. Another way is by engaging corporations in a positive way to change hearts and minds. So tell us about shareholder advocacy, Chris and what you're doing at Praxis.
Sure, Rob. At Praxis, we use seven different impact strategies to make a difference through investments. One of them is shareholder advocacy. And we also call that corporate engagement sometimes. And it harnesses the power of ownership to create change. Shareholder advocacy makes use of the rights and the privileges of owning stock.
And it can take many forms, writing letters, filing shareholder proposals, all the way up to dialogue with company management, which we think is the most effective form of engagement. And our advocacy program isn't about chastising or embarrassing companies, because as investors, we want these companies that we're invested in to be profitable to succeed. But we also believe that they can do better to help the world thrive through their policies and performance. And we're not alone in this. We partner with other faith-based institutional investors to increase the breadth and the depth of what we can accomplish.
These partners can include pension funds or endowments, church agencies, and we collaborate where we have common ground in interest and capacity. And in doing this work, we found that it's important to take a long view of change. Yeah, and I think that's a key idea. This is not a sprint. It's a marathon, right?
Absolutely. Meaningful change, I think, always takes time. And when we start an engagement with a company, our outlook for achieving goals is typically in terms of years, not like weeks or months.
And part of that's spent on building a solid foundation. We need to deeply understand the issues we work on. So we familiarize ourselves with the necessary information to speak intelligently and with purpose when we engage the company.
And that takes, of course, a lot of preparation. We also seek to build trusting relationships with the companies we engage. This comes over many interactions, both minor and major, with leaders of the company. And trust, as we know, is usually earned, not given.
And so that takes time as well. But companies typically come to understand that we're approaching them in good faith and that we're invested in their success, too, not just our own. An overarching goal we have for every engagement is to reach mutually beneficial outcomes. So, for instance, if a power company is able to substantially reduce its air and water pollution, it's great for creation. And the company is probably also more efficient in its operations and better positioned to compete against its peers and its reputation can benefit as well. So I think in the long term, that's better for shareholders, the company and the communities where it operates.
Well, that was a helpful overview. Now, Chris, how do you stay motivated when change seems to come so slowly? Yeah, sometimes things can seem kind of hopeless and I've felt tempted to disengage in the past, but I know that doesn't really help anyone. So I think I've gotten better at recognizing incremental change. There are always setbacks, but recognizing the milestones along the way can go a long way towards facilitating future progress.
And I think individually we're not responsible for all the problems in the world, nor can we right all wrongs. But I believe our mission is to work toward the wholeness of creation with the time and resources we are given while we honor progress along the way. Well, there's no doubt you're doing that, and we're grateful for our partnership with you, Chris. We're out of time, but thanks for stopping by, my friend.
Thanks so much for having me, Rob. Folks, if you want to learn more, go to praxismutualfunds.com. That's praxismutualfunds.com. That's Chris Meyer. He manages stewardship, investing, advocacy, and research at Praxis Mutual Funds.
We'll be right back. We are grateful for support from Praxis Mutual Funds. Praxis Mutual Funds has seven impact strategies that are designed to create positive, real-world change. More information is available at praxismutualfunds.com. The fund's investment objectives, risks, charges, and expenses are contained in the prospectus and summary prospectus. This and other information is available at praxismutualfunds.com. Investments involve risk.
Principal loss is possible. Foresight Fund Services, LLC. Thank you for joining us today on Faith and Finance, where we want God to be your ultimate treasure, helping you understand a biblical worldview of money and finances, realizing that money is one of God's good creations. However, it can become the object of our affection. The world would tell us that our longing for abundance and fulfillment can be found in the things of this world, money and the things that money can buy. And we know that based on God's word, that's absolutely untrue.
It will not satisfy. Only God should be the devotion of our ultimate affection, and he is our eternal treasure. And money is a tool to accomplish God's purposes. Well, when we see it that way and we realize that our calling is to be found faithful as a steward or a manager of what God has entrusted to us because everything belongs to him, well, then it puts money in its proper context. And so then our goal is to not only understand that and live with contentment within God's provision to exercise self-discipline, to give generously as an act of worship, but also to make daily decisions in light of our understanding that God is the owner. So we're to understand the heart of the master in order to manage the master's money.
So we go back to God's word to find those principles and big ideas on how we manage money. That's what we want to help you do each day on this program. We're taking your calls and questions today. In fact, let's head to the phones to Oklahoma. Hi, Jacob. Go ahead.
Hello. I am a gentleman that just recently got married, the 14th of this month. We struggle. We live paycheck to paycheck, but now we're in a situation where I don't know how we're going to make it. And I've put all my faith in God, but I still want to know if there's any other way that I might be able to make money.
Since we got married, my fiancee lost her Social Security disability that was through her father's survivors benefits the moment she became my wife. Now we're to the point that I'm looking at our finances and when I'm pulling 40 hours a week, it's going to put me right at the border. So if I can't pull 40 hours a week and with me being in the restaurant industry, that is easily happened, you know? So I'm looking at the fact of, is there any way that you know of that I might be able to make an extra $400 per month to help us make it until her disability is reapproved through Social Security?
They've already said because she has proven she has disability, she'll get it again. But it takes up to nine months to do. Yes. Well, I know that can be challenging. Jacob, I realize this is something that's just weighing on you.
I so appreciate your call. And we'll ask our faith and finance community to be praying for you. You know, ultimately, we recognize that God is our provider, not the US government, not your employer. God alone is our provider.
He can be trusted. And so I think this is an opportunity, and I realize this is easier said than done, but an opportunity to go on an adventure with God and say, listen, I trust you, Lord, for your provision. I'm going to do my part. I realize, you know, I need to work not with an idle hand, but diligently as unto you. And so I'm going to do that. I'm going to give, you know, every bit of my effort, but I'm going to trust you for that provision.
And let's just watch him provide as we know that he will. I think the good news, Jacob, is you're not calling saying I need $4,000 a month. You're saying I need $400 a month.
And, you know, that even though that's not an insignificant amount of money, that shouldn't be difficult to pick up, perhaps even a part time job that would net after taxes $400 a month, an extra $5,000 a year. And the good news is this should be temporary because as you said, if those Social Security disability benefits are restored, I mean, you know, it can take some time. And I realize working through that process is not simple, but it will happen. I'd say stay diligent, maybe make an in-person visit if you need to, to see if you can find somebody who will help you expedite the disability benefits. But the key is to stay the course and not get into debt in the meantime.
The good news, I think, also is that a great many small local businesses continue to suffer because they can't find workers. And so I think the opportunity even on a temporary basis is to really look for perhaps a part time job that you could pick up realizing this is temporary. The other way is not only increasing income, but obviously decreasing expenses. And so I think you've got to really go back to that budget and perhaps make a budget overhaul to find things that you can cut even temporarily. Could you suspend contributions to your retirement account if you're making them?
Maybe you don't have one and that's okay. Let's move to the next thing. You know, what other things could you cut?
Cancel cable or streaming services again for a period of time. You know, I think when we get into a situation like this, we need to keep the big four in place. We need to keep a roof over our heads. We need to keep food on the table.
We need to keep the utilities paid and we need to keep gas in the car to get to work. But everything else is negotiable. And, you know, again, that's not easy. It can be painful.
You've got to make some hard decisions. I realize you're newly married and you are wanting to enjoy this season of life. But, you know, you're doing it together knowing that you're working towards something. It can be enjoyable. Even the idea that, you know, we're going to work together to find ways to save money. I mean, you know, it can be something that you all really put your heads together on, trust the Lord, and then watch him provide.
And I think it could be even really meaningful for your faith as you walk through a challenging season. But give me your thoughts on all that. I do agree with all that. Right now, we have cut out our internet. We've cut out our streaming services. We've cut everything that is not needed.
We do have help through food stamps because whenever that happened, we called DHS and they said that we could get food stamps. It's just the bills itself. And as for vehicle, the van has broke down. Okay. Well, I've got all the parts purchased. I just have to get it fixed.
And I know of one place that it's a local church that does a mechanical service for free as a ministry. And I'm going to be contacting them. Good. Two things. One is, have you looked for some part-time work that you could pick up temporarily?
No, honestly, I have not yet. I have been working as many hours as I can here. Yeah.
And I get that. I think maybe that's the next step. I mean, could you look for something that you could do on the weekends? Maybe you're already working on the weekends. Could you do pick up something that happens in the evenings?
I realize with the restaurant industry, that may be your prime time, so maybe it's something first thing in the morning. But I think the key is, what can we do during this season to increase income? Let me pray for you, Jacob. Father, we lift Jacob and his wife up to you.
What a blessing that they've just joined together in marriage. They want to honor you clearly with how they're handling your finances, that you've entrusted to them. Lord, I just pray that you would provide miraculously. That they would just be unexpectedly just overwhelmed by how you've provided. Perhaps in a way they've never considered. Where we can see clearly it's your hand of faithfulness.
Thank you for what you're already providing. And Lord, would you just give them wisdom? Would you draw them together during this challenging season so they can look back and give testimony to your faithfulness?
Would you bring people around them that can encourage them, that even could provide for them financially? And we just tell you today, we trust you. And we know that they are in your hands. And we just commit them unto you, Lord, and ask that you would once again just continue to provide. In Jesus' name, amen. Jacob, thank you for your call, sir. And please let us know how this turns out. We'll certainly be excited to walk alongside you.
Before we head into our break, let me remind you. If you'd like to find a financial professional who shares your values and priorities, who's met high standards in character and competence, who's been trained to bring a biblical worldview of financial decision-making, well, we'd encourage you to look for a Certified Kingdom Advisor in your area. There's more than 1,500 men and women who have earned CKA all across the U.S. You can find one at faithfi.com.
Just click Find a Professional. We'll be right back. As a faithful listener of the Faith and Finance Program, you know that there is life-changing financial wisdom in God's Word to meet all your needs. More than anything, Faithfi is here to help you and millions of others see God as your ultimate treasure. As a nonprofit, we're grateful for our partners that help expand our outreach every month with their generosity. Has God provided financial answers for you through this ministry? Please consider becoming a monthly partner by visiting faithfi.com and clicking Give. That's christiancreditcounselors.org, or call 800-557-1985, 800-557-1985. This is Faith and Finance.
Our goal here on this program, well, that you would see God as your ultimate treasure and money, a good gift from God, a tool to accomplish God's purposes. We're taking your calls to questions today, 800-525-7000. Let's head to Texas. Meg, thanks for your patience. Go ahead. Hi, Rob.
Thank you so much for taking this call. I am 67, a single woman. My full retirement age was last October. I have not taken Social Security, but I have recently applied for it. It's not finished, but I have a nephew who's vehemently against this.
I want to tell you my thinking because he loves me and he wants to do what's best. But I am planning to continue to work as long as I can. I'm not, you know, I have a decent income.
I'm not hurting for money. I have a mortgage that I took at age 65, which was unusual, but I've been able to pay down quite a bit. I still owe eighty seven thousand approximately on that mortgage. So my thinking was to take my Social Security now. I'm going to get six months retroactive back to October.
So I'll have a little chunk of money there. I would take that minus taxes, put it right on the principal of my mortgage, and then every month take my Social Security payment and put it right on my principal. And I did the calculators on the mortgage calculators, and I think I could have my house paid off in two years instead of when I'm 95. But my nephew still thinks I would be smarter to wait until I'm 70.
And I don't understand completely why, because the money difference per month and my Social Security income on the statement is seven hundred dollars a month between what I would be getting now and what I would be getting at age 70. Yeah. Yeah. All right. What is the interest rate on the mortgage?
Five point seventy five. All right. And you said how quickly would you have it paid off if you start taking Social Security and apply one hundred percent of it to the mortgage principal?
Two years. I was shocked, but that's what the mortgage calculator said. All right. And if you don't and you just keep on your current track, are you adding anything else to it? Yeah, I am making extra payments as I can. OK, so if you just continue doing only what you're doing without adding the Social Security, do you have a sense of how long it'll take?
No, I didn't really figure that in. OK, well, here's why I think he's saying that. I mean, you said the difference is seven hundred dollars a month. I mean, that's eighty four hundred dollars a year that you'd get for the rest of your life by waiting until age 70. And you don't need the money because you're continuing to work and you're planning to continue to work until at least age 70 based on everything you know today. Is that right?
Yes. So the question is, should I take the guaranteed increase of eight percent a year? Assuming you live long enough to get repaid for everything you're giving up between full retirement age and age 70, which is probably going to take about 12 years. So if the Lord tarries, if he doesn't, it doesn't matter. If the Lord tarries and you live to at least age 82, then you're going to get repaid for everything you gave up between 67 and 70 in the form of a higher check by, you said, 700 a month. And then from 82 forward, as long as the Lord would have you be here, you're going to have an extra eighty four hundred dollars a year in your check.
And so, I mean, that's a big deal. I mean, especially if you need long term care down the road and it's expensive or, you know, you have something that causes you to need more income. It'd be one thing if you said, I'm struggling to pay my bills right now, but I'm not hearing that because you're continuing to work.
This would just be surplus. And so even though every principal payment you make is a principal, you're no longer paying five, roughly five percent interest on, but you're also gaining eight percent every year on that payment, that Social Security check. And so I think the benefit, the future benefit of having an extra eighty four hundred dollars a year for the rest of your life by waiting, you know, supersedes the benefit you're getting right now of paying off that mortgage a few years earlier by getting a check from Social Security that you don't really need, that you're going to apply it to the principal.
So I think that's what you need to consider. Now, if you have prayed about it and you feel like the Lord has just convicted you that, Meg, you need to get out of debt as soon as possible and that's a conviction, then I'd say go for it and don't look back. But if you're comfortable hanging on to this mortgage a little bit longer and you see the value of having that extra eighty four hundred dollars a year for the rest of your life starting at age 70, then that's where I think that does have some merit. OK, I thought perhaps the interest that I would save on my house, you know, having it paid off that much factor would kind of be a wash for that extra eighty four thousand. But you're saying and he's saying, no, it really wouldn't. It wouldn't if you play, depending on how long you live. So if you lived age 95, you're going to get a lot more money by waiting and paying it off once, you know, three years from now when you get your higher check, which you could pay off much quicker because now instead of whatever you were going to get, you're going to get that plus seven hundred dollars a month.
So come age 70, you could attack that mortgage and maybe get it paid off in 12 months. OK, I got you. I hate to say it, but my nephew was right. Hey, tell him I tell him I said great job and he needs to call me sometime.
Maybe maybe he can fill in next time I'm taking a break or something. Hey, God bless you, Meg. Thanks for being on the program today.
Let's go to Oklahoma. Hi, Sheila. How can I help? I have a financial advisor and through him I got a CD and I got the interest on it. But rather than taking the interest, I just reinvested.
So I don't get you know, I'm not getting any money. It's just reinvested. Do I pay tithe on the interest that I got? Yeah.
So, yeah. Let me just let me answer the question and then back up and give you some thoughts on the tithe, which I love the principle of the tithe. But I would just say your tithe if you're giving a tithe that's on the increase. And so, yes, you know what you're getting in the way of interest is your increase. Now you're reinvesting it.
And so you haven't realized that increase yet. At some point when you redeem that CD, you will get the money you put in back plus the interest. And that's the time when you actually have the cash in your hands or in your account, not reinvested in the CD that you can't get to. That's the time to say, OK, every bit of interest I received while I own this CD is my increase. I'm going to apply the principle of the tithe. I'm going to take a tenth and give it as unto the Lord. So it's really not today.
It's once you redeem that CD that you'd want to do that. Now, as to the principle of the tithe, I love it. I think it's a great guideline. We see it clearly under the law of Moses. We're no longer under the law of Moses. But I think clearly New Testament giving is still proportionate and systematic, starting with the local church. So I think giving a tithe, a tenth of your increase is absolutely appropriate. But we should be looking to go beyond that for those of us who have seen the cross giving freely and sacrificially and giving certainly cheerfully as well. So, Sheila, hopefully that helps you. I'd wait until you redeem that CD and then give as unto the Lord. Hey, thanks for being along with us today, folks.
Remember, we want God to be your ultimate treasure and money, the tool to accomplish his purposes. On behalf of my team today, Jim Henry, Devin Patrick and Robert Youngblood, I'm Rob West. We're so thankful you were with us today. Come back and join us tomorrow. We'll see you then. Bye-bye.
