This faith and finance podcast is underwritten in part by Hope for Zambia, empowered by Family Legacy. Hope for Zambia, empowered by Family Legacy, is a ministry providing holistic care for over 14,000 vulnerable and orphaned children spiritually, intellectually, physically and emotionally. Whether distributing five million meals each year to children and young adults, or by empowering students to graduate from high school and go on to pursue trade school or a university education, Hope for Zambia believes that when you educate a child, you transform their world.
Go to HopeforZambia.com slash faith to give and change lives. Do you like giving? Do you experience joy when you give?
If so, you probably would like to pass the experience on to future generations. Hi, I'm Rob West. Jesus said it is more blessed to give than to receive because it's the truth. I'll talk about that and more today with Brad Formsma, and it's on to your calls at 800-525-7000.
That's 800-525-7000. This is faith and finance, biblical wisdom for your financial journey. Well, our guest today is my friend Brad Formsma. He's author of I Like Giving and the founder of the ministry by the same name. Brad, great to have you back with us. So good to be with you, sir. Brad, you started I Like Giving to inspire people not just to give, but to live generously.
And I'd love for you to start by just talking about why you think that's so critical in today's Me Too culture. Well, if you think about it, we're the recipients. So we're on the receiving end of God's incredible generosity, and it starts with our lives. So we're created in His image, and He's the most generous being, and I think that's already where the attack comes in.
So let's just park on this. We're created in God's image, and then if that's not enough, He sends Jesus, and He gives us a gift if we choose to accept it of salvation. And then if that's not enough, Jesus says, hey, I'm going to leave, so I'll send you, give you the Holy Spirit. And I see those three ways of us receiving ultimate generosity from God, and how can I not recognize if it's true, and it is, that I'm made in His image, then I was designed to be about others and to be a generous person.
Yes, that's exactly right. You can't read the scripture and not see generosity just leap off the page, right? It's a generosity story from beginning to end, and I know your heart is that our listeners would be able to pass that joy of giving along. So I want to talk today about your advice to specifically parents and parents and grandparents who are trying to connect with the next generation about generosity.
Where would you start? What would you tell them? Well, I understand that I care about you. I wake up thinking about you because I interact with you all over the United States as I'm traveling around, and the top fears I hear are we're worried about their faith in God, their being our kids and our grandkids, and right behind that is, you know, we're concerned it's all about them, and we've put some things in place to have them get an inheritance or to have a trust fund. We know there's a major wealth transfer that many will be connected to, and there's concern. Does this next generation get it?
Do they understand that most people, we read it this way, it all belongs to God, and they're concerned, do our next generations hold that same belief? And so, at I like giving dot com, we've got several avenues of content that we've created specifically to help families talk about their own story and to talk about what it means to live generously. Well, I know you all have done a phenomenal job and you've used the power of story to do that.
We've got just about a minute before our first break. How have you used story to communicate this critical topic? Well, isn't it great? We have the best model of storytelling in Jesus.
I mean, this is what he did, right? He used stories to help reveal something to us, and so what we've done at I like giving dot com is to say, look, how can we create age-appropriate content? So whether it's kindergarten through eight, or whether it's homeschool families, stories that are connected to God's Word, and how then after we share the story, how can we look for God's Word, you know?
And so we believe that stories move people from awareness to action, and that's where amazing miracles happen. Well, Brad, I couldn't agree more, which is why I'd love for you folks to go to ilikgiving.com and use these stories as you communicate the heart of generosity to the next generation. Well, when we come back with Brad Formes, my author of I Like Giving, we're going to dive into a few of the seven ways of living generously, specifically attention, words, and thoughts.
Check out ilikgiving.com or generousfamily.com. Brad Formes is back with us just around the corner. Stick around. As a faithful listener of this program, you know that there's life-changing financial wisdom in God's Word, and FaithFi is here to help you and millions of others learn to be good and faithful stewards. As a nonprofit organization, we rely on help from monthly FaithFi patrons, supporters of this mission, to help us continue and expand our outreach. Has God provided financial answers for you through this ministry? If so, consider becoming a monthly FaithFi patron.
Visit faithfi.com and click Give. We are grateful for support from Lightpoint Portfolios, which seeks out family and faith-friendly investments for 401k and 403b plans, integrating faith values and fiduciary duty. Lightpoint Portfolios offers retirement plans for a variety of organizations such as businesses, nonprofits, and churches, and we're grateful for their sponsorship of the Faith and Finance Program.
More information is available at lightpointportfolios.com. Delighted to have you with us today on Faith and Finance. I'm Rob West.
With me today, my good friend Brad Formsma. He's author of I Like Giving. You can learn more at ilikegiving.com.
When you get there, be ready. Those stories are powerful and they can be a great tool for you. Brad, I know in your book, I Like Giving, you teach the seven ways of living generously. These are thoughts, words, money, time, influence, attention, and belongings. Now, that's obviously way beyond just writing a check. So, why don't we talk about a few of those beginning with the generosity of attention, especially as we think about transferring this to the next generation?
Oh, happy to do it. You know, Galatians talks about, therefore, as we have opportunity, let us do good to all people, especially those that are our brothers and sisters in the Lord. And I think that shows us, Rob, doing good isn't just a check only.
It includes that, but it goes beyond that. I had the privilege of a grandpa who owned a bakery and I was the oldest of five looking for ways to escape the house. And I would tag along with him on Saturdays and he'd make these special 16 loaves of bread and then away we'd go around our city and he'd give two loaves to a widow that he knew from church and then he would take this time to say, I heard you had a bad week. You're going to have a good week and just used words to be generous and encouraging.
And then another stop, a few more loaves of bread and maybe a white envelope. And he explained there was a financial need. And maybe one other time I would see a letter of recommendation and he would say, I'm just helping other people get to where they need to go with my influence. And so, you know, we talk a lot about generosity for generations, Rob, and I just care deeply that families would lean into what's possible here. Don't be afraid or think, then believe the lie that your kids and grandkids don't care about engaging around the generous life subject.
They do. And as we said in the earlier segment, you know, we're modeling things. And so would you like me to talk about generosity of thoughts and what we've learned at I Like Giving?
I would, because this is such a key area. I like all of these and certainly generosity of thoughts is a really important one. So what would you share with our listeners?
Well, I love the line daily, weekly, monthly, right? So we can think about these seven ways every day. And generosity of thoughts.
Here we are, there's a passage in Philippians that talks about, think about things that are pure, right, true, lovely, excellent. And I think even in my own story, Rob, I've at times struggled with having a preconceived notion or an opinion of somebody, and I'm not seeing them in the best light. Maybe that's what happens for you as you're driving down the road, you're listening, you're thinking about your kids or grandkids, and maybe they're living a way that you're not giving them the benefit of the doubt, or you have a thought that's not good about them.
And that affects our relationship. And so I think it's important that we are also generous with our thoughts about ourselves. I mean, after all, I like to say we're created in God's image, and we're supposed to love our neighbors ourself, but sometimes my negative self-talk can make me think I feel sorry for my neighbor, Rob. So this goes both ways, this generosity of thought, doesn't it?
It's beautiful. The Lord gave us our mind. And then of course, generosity of words. I'm reminded of a grandfather who said, you know, he took my challenge. I said, why don't you lean in, go have a breakfast with no real agenda other than to listen and to be present, and look for a specific way to affirm your grandson. And he came back blown away because he said, I learned some things. I learned he was struggling with suicide.
I learned he was struggling with self-esteem. And it was just me taking the time and the attention and then being generous with his words towards him. He said, it just brought some life. It brought some connection. And, you know, he said something very interesting. You know, I really wanted to go meet with him and several of my grandkids to kind of tell them how I want them to live and tell them how I want them to give with some of the money that I've given to them. And it just isn't going to work that way, is it, Brad?
And I said, generally speaking, no. People remember how you make them feel, and that's really where it starts. And so wherever you're at with your kids and grandkids, pray, pray, pray, and then engage.
And I believe that God's going to do something special and don't have to be once and done. And remember, you're modeling something and you can do that in a good way. Yeah, you sure can. And now more than ever, right, with generosity of words, because so much of the conversation, especially among students, teens on social media, is toxic and it's negative. What an opportunity to model the ability to be generous and kind with your words, huh?
Absolutely. In fact, what we've done is we've taken research, Rob, and now we're in the homeschool world big time with a program called Generous Students. And we're also in K-8 Christian schools across the US, and that's also the program called Generous Students. And it's all designed to engage the kids with their families and in their own heart around the seven ways of living generously, connecting with Scripture, applying Scripture to their life. And so if you're connected to a Christian school and you're wondering what's being taught inside, you can do something about that.
Go to highlightgiving.com and connect that school. It's powerful. In our time left, Brad, I want to touch on one more. I think this relates to kids of all ages, but certainly the younger ones, and that's the generosity of belongings. How can a grandparent or parent communicate how they can hold loosely the belongings they have? Well, Rob, I think it starts with understanding who owns it, right? So if we understand that God owns it all, I use the word model a lot.
Forgive me, I've used it three times with you. Our kids watch so much of what we do, and how we give and share and show we care is one of those catchy lines that we're using with younger kids. It doesn't matter if it's a pink pencil, and we can link to I Like Teachers, one of our famous short films, where just a pink pencil sharing in a classroom changed the culture there. And so I think, you know, whether you're sharing something simple or something more significant, it's just this posture that if God owns it, what a question for us to ask, what am I holding on to that I wouldn't be willing to share? Maybe you won't end up sharing it.
But you know, just asking it can be kind of scary, right, Rob? Exactly right. And then just in the last 30 seconds that we have here, the generosity of time is obviously something that a grandparent or a parent can give.
Absolutely. And I just want you to know, I care about you, I think about you as a parent, a grandparent, you care about leaving an inheritance, and that could be a spiritual inheritance. And I believe that our ministry and why people get behind what we're doing is we're creating content to help the next generations steward what God has given these amazing families across America. It's powerful, Brad.
Well, we've just scratched the surface, so we're going to have to have you back. But really appreciate you stopping by and encouraging us in this key area, generosity. Great to be with you, Rob, as always. Folks, if you want to learn more, check out ILikeGiving.com or GenerousFamily.com. That's ILikeGiving.com or GenerousFamily.com. Brad Formsema, author of I Like Giving, has been our guest today. We're going to take a quick break back with your questions at 800-525-7000. 800-525-7000.
We'll be right back. Hope for Zambia, empowered by Family Legacy, is a ministry providing hope to vulnerable and orphan children in Zambia by investing into their spiritual, intellectual, physical, and emotional growth and well-being. Whether distributing 5 million meals each year to students or empowering them to graduate from high school and go on to pursue post-secondary education, we believe that when you educate a child, you change their world. Go to HopeForZambia.com slash faith to transform a life. We're grateful for support from Eventide Investments on the faith and finance program. Eventide's approach to values-based investing is grounded in the belief that humankind was created in the image of God with intrinsic dignity, value, and worth. Eventide calls this investing that makes the world rejoice. More information is available at eventideinvestments.com. That's eventideinvestments.com.
Welcome back. This is Faith and Finance. I'm Rob West. We're taking your calls today, 800-525-7000. That's 800-525-7000. By the way, you don't have to call, just send an email. AskRobatFaithFi.com.
That's AskRobatFaith, the letters F-I dot com. Now let's go to Ohio next. Hi, Linda. Go ahead. Hi. Hi, Rob. Thank you for being there for us with your wise advice. Well, thank you.
Yes, and I live with the Scripture, seek ye first the kingdom of God and his righteousness, and all these things will be added to you, which I have, and I thank Jesus for blessing me. My question is, I inherited my parents' home, and it's a big house, first floor, second floor, attic, and basement, and I'd like to get a ranch and first floor laundry. So I would like to purchase a home, and should I use savings to pay the 20% down, and then when I sell my home, put that back, and then use my annuity for a great part of the mortgage, or should I finance? Hmm. Yeah, so let me make sure I'm clear here. So you inherited the property from your parents, their home. What's the value of that property? It's an old home, maybe 110, under 110. Okay, let's say it's worth 100,000.
Because I've had a break all my life. Let's say it was 100,000. Are you planning to sell it, Linda?
Yes. Okay, and how much do you want to pay for your next home? Well, with everything I would like, I think probably minimum $189. What's the home that you live in today?
What do you think that is worth? That's where I'm living, in my parents' home. Oh, you're living in the home you inherited. Okay, very good. Yeah, I had sick parents, and I moved home to help them, and so I helped them all their life.
I never married. Okay, and what do you have in savings today? I have over 50,000.
Okay, all right. Liquid money. Okay, and then what are you covering your bills with? The annuity plus social security? No, no, my retirement. I have a nice retirement. And that's enough to pay your bills, the retirement?
Oh my, yeah. My bills only come to probably $500 a month. Okay, very good.
Gas, electric, water. Yeah, so I think you're in a position here to go ahead and put that 20% down out of cash. You've got plenty of surplus, and then as soon as you sell the property, I would, you know, pay it off, and then you'll be in a great position there. If you couldn't pay it off, maybe you keep a small mortgage until it's paid off, but you've got plenty of liquid assets here.
I wouldn't draw it down to zero. I'd keep, you know, several months' worth of expenses, but you'd have enough to put your 20% down, get your mortgage, and then put that full proceeds of your parents' home toward this property when you're done. You're still going to have quite a bit of surplus on a monthly basis and be in a really great position. So that would be my best advice on where you go from here.
I know mortgage rates are high, but the good news is you're not going to have this mortgage that long, so you'll be in a really great spot. Thanks for your call today, Linda. God bless you. 800-525-7000. We've got room for one more question to Illinois. Hi, Kay.
Go ahead. We're moving our investments. We have about $400,000. Part of it is annuity. We already have an annuity, so there are several reasons we want to move this, and we're looking at two different firms, and one is offering how they work. With that amount, it would be 4.5% or 5% load fund, and they showed us a chart going over, I think it was about a 30- year period, how your money would grow faster and larger with about a 1 or 1.5% yearly or annual fee, but we are 70 and 74. We don't have 30 years, so I always thought you shouldn't go with a load fee, load fund.
Yeah, I probably wouldn't. You know, not only is there a big upfront cost or expense to you, but there's less incentive for them to oversee it and actively manage it because they've already been paid. So I would prefer you to transfer that $400,000 to somebody who's going to charge you 1% a year on the $400,000, but they're actively managing it, making decisions as necessary to modify or make adjustments in the portfolio as things change in the economy and the markets with your goals and objectives in mind, including your age and income needs and risk tolerance. But that's my preferred approach for managing a portfolio this size, that 1% annual fee versus this upfront load mutual fund. Okay, thank you very much. I just started, I really like the people.
I mean, everything seemed to be good, except I just didn't feel a good shot in my spirit about that. I remembered about load funds, and so I just wanted to check with you. I'm very happy to get your call, and I love your program. I've learned so much. Well, you're very sweet, Kay. Listen, yeah, God bless you. We appreciate you checking in with us. If we can help you further along the way, don't hesitate to reach out. To Chicago, Angie, I appreciate your patience. How can I help?
Oh, hi, Rob. I'm in a situation where I'm handling my mom's bills. I find out she's 89.
I find out she has had an insurance policy on me since I was in college. It's decreasing in value. I'm thinking we should just dump it right now, the payout. If I was to drop dead today, it would be only 8,000, and it's losing $500 a year.
I think we just need to dump it. I just want to make sure ethically this is okay, since she is the one who took it out. But I think financially she's fine.
I have no dependents whatsoever, and this is such a small amount. It's silly to just keep sending these people money, I think. I totally agree. Does it have any cash value in it if you were to cancel it?
Yes, it is $1,244. Absolutely. I would absolutely do that. There's no reason to continue, in my view, to continue this policy. It's not really not serving any purpose, and it's going to continue just to erode that amount that's available as you continue to pay on this thing. So I would absolutely let it go. Okay. And there's no better option like to roll it to something else or whatever? There really isn't.
I'd pull the cash out and put that to work in a Roth IRA and don't look back. Thank you so much. I appreciate you confirming this thought to me. All right, Angie. We appreciate it. And, Andy, I don't have time to get to your call, but I do want to give you a gift because I see here in my notes you made some bad investments.
You want to know how to become successful in investing. I want to help, even though we can't get you on today. So you hang on the line. Tahira will pick up the line, and we're going to send you a copy of the Soundmind Investing Handbook. And again, I apologize. We weren't able to get you on the air. Kevin, let's see if we can get you on next week. Well, folks, that's going to do it for us today. What an incredible week being able to serve you and hear your stories and your questions. I couldn't do it without my amazing team, Courtney, Tahira, Jim, and all the rest that make this possible every day to be able to bring you God's wisdom as it relates to your financial decisions. We'll see you next time. Bye-bye. Faith and Finance is provided by FaithFi and listeners like you.
