The Story of Thanksgiving

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Through screening, corporate engagement, and impact investing, our investment strategies allow investors to be more proactive with their investment dollars to make a meaningful difference in the world while preparing for their financial future. Learn more at guidestonefunds.com slash faith. Happy Thanksgiving. We hope you're enjoying the day with family and friends and thanking God for his many blessings.

Hi, I'm Rob West. You know, gratitude was certainly on the minds of those at the first Thanksgiving in 1621, but who were those on hand for that celebration in the Plymouth Colony some 400 years ago? Why were they there and just what were they celebrating? We'll find out today and then it's on to your calls at 800-525-7000.

That's 800-525-7000. This is Faith in Finance, biblical wisdom for your financial journey. Most of us remember from grade school that the Plymouth Colony in present-day Massachusetts was founded in 1620 by a group we know as the Pilgrims, also called Separatists. These settlers sought to break away entirely from the Church of England, which they felt had strayed from biblical teaching.

Their journey is one of remarkable faith and courage as they pursued the freedom to worship as their conscience dictated. In contrast, the Puritans who settled nearby in Massachusetts Bay Colony in 1630 shared some beliefs but followed a different approach. Unlike the Separatists, Puritans wanted to remain within the Church of England, hoping to reform it from within. This earned them the name non-Separatists as they wanted to purify, not abandon, the Church.

Although their paths differed, both groups' stories remained deeply intertwined with the early history of America. The Pilgrims faced intense persecution in England for worshiping outside the established Church and holding the Bible as their final authority. In 1609, they fled to Lydon, Holland, hoping to worship freely. However, even in Holland, they encountered challenges, and some were arrested and brought back to England. Realizing that their aspirations for freedom wouldn't be fully realized in Europe, they made the significant decision to sail to the New World, where they hoped to live according to their beliefs. Around 120 men, women, and children boarded the Mayflower, embarking on an uncertain voyage across the Atlantic. Not everyone was driven by faith.

Some, known as adventurers, joined for financial opportunities, though such opportunities would prove difficult to come by. For the Pilgrims, the journey was primarily about worshiping freely, escaping religious opposition, and starting a new life rooted in faith. Today, Thanksgiving is often a celebration of gratitude for God's provision. For the Pilgrims, however, women came out of struggle and sacrifice for religious freedom, a reminder of the resilience required to secure that right.

Their journey is a significant part of our heritage and something to remember as we give thanks. The voyage to the New World was challenging. They faced delays, and the Atlantic crossing was rough, so they arrived in November instead of summer, leaving them no time to plant crops.

This led to what became known as the starving time, where disease and lack of food took a heavy toll. Nearly half of their group didn't survive that brutal first winter. Despite mistakes in planning, the Pilgrims established a positive relationship with some of the Native Americans in the area. One Native American named Squanto, who had previously learned English, was especially instrumental. Acting as their interpreter, he taught the Pilgrims vital survival skills, like how to plant corn and where to fish, helping them to learn to sustain themselves in a foreign land. With Squanto's guidance, they planted crops in the spring of 1621 and were able to reap a modest but vital harvest that fall. To honor God for his provision, they invited their Native American neighbors to a Thanksgiving feast.

By then, only 22 men, four married women and 25 teenagers and children remained from the original group. The Native Americans who joined them brought food, nearly doubling the gathering size and marking one of America's first potluck celebrations. Together, they celebrated survival, provision and friendship, a testimony to faith and resilience. Years later, William Bradford, Plymouth Colony's longtime governor, wrote about this journey in his book of Plymouth Plantation, quoting Hebrews 11, 13 to 16, to describe the faith of those who endured. The passage reads, All these people were still living by faith when they died, admitting they were foreigners and strangers on earth.

They were looking for a country of their own, longing for a better country, a heavenly one. Therefore, God is not ashamed to be called their God, for he has prepared a city for them. Bradford and the Pilgrims saw this verse as capturing the heart of their journey, knowing that their true home was with God. As we gather for Thanksgiving this year, may we remember their story of courage, faith and gratitude for the freedom to worship as we choose. From all of us here at Faithful, we wish you a happy and peaceful Thanksgiving. I'm Rob West and this is Faith and Finance, biblical wisdom for your financial journey.

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Mutual funds distributed by Timothy Partners, LTD, and ETFs distributed by Four Side Fund Services, LLC. Great to have you with us today on Faith and Finance. We're looking forward to diving into your calls and questions today. We've got lines open and we're ready for you. That number to call today, 800-525-7000.

Again, that's 800-525-7000. If you're thinking about managing your budget, maybe you're struggling to stay on budget in the midst of these times where everything seems to cost more. We'd love to weigh in on that. Maybe it's paying down debt. We're hearing from so many people who have eaten into their savings because of the high costs of everything. As a result, they've taken on some credit card debt.

They're carrying that balance and they've decided they want to pay it off once and for all. We can talk about what that looks like. Perhaps it's your credit score.

It's been kind of stuck and you're looking to get it up. We'd love to weigh in on that. Or maybe it's the market. We've had a lot of strength in the market. Where is it headed and how might that affect your investment strategy as you head into the new year?

That and so much more. We'd love to weigh in on whatever you're thinking about in your financial life. Again, that number 800-525-7000. Speaking of credit card debt, in the news today, credit card debt is becoming an alarming trend among one specific group, retirees. In 2024, 68% of retirees reported having outstanding balances.

That's a pretty steep increase from 40% in 2022. With inflation driving up costs and Social Security adjustments failing to keep pace, many retirees are turning to credit cards, unfortunately, to cover essential expenses making debt an ever-growing issue on fixed incomes. High interest rates, of course, worsen the burden.

The average credit card rate reached 23% this year. Debt is also following more Americans into retirement than in past generations, making financial stability really elusive. So what does it look like to manage credit card debt specifically in retirement?

And of course, these apply anytime and in any season of life, but this is particularly challenging in the retirement season. Number one, this goes without saying, cut costs. Small lifestyle changes can help reduce debt. So cancel unnecessary subscriptions. You'll be surprised at how many monthly charges you forgot about that are continuing to churn in the background.

Look for those. Conduct a home energy audit, prepare meals at home and save on utility and food costs. For larger savings, you might want to consider relocating to a more affordable area. I know that's more challenging than ever with the housing market the way it is. And yet, you know, the big three, the budget busters, if you will, are housing, transportation and food. Food is a little easier to adjust on the fly.

Transportation, perhaps the next one. Housing a bit more challenging just because it's, of course, where we live. It's more illiquid, more difficult to sell a house than a car. Certainly more difficult to sell a house than to change your eating out habits. But it is that big ticket item that could be the difference in you being able to balance that budget and maintain your lifestyle living below your means. Second, increase income. You know, more and more seniors, more and more retirees are going back to work even part time. So explore a part time work opportunity. There's not only work from home options, but perhaps getting out and doing something even, you know, a few hours a week could allow you to stay active and bring in some much needed additional income.

Think about selling valuable items. Consulting a nonprofit credit counselor company for guidance would be really helpful. We, of course, recommend Christian credit counselors here. They've worked with thousands of our listeners.

They're believers. They'll get you into a debt management program, which is my preferred way to pay off credit card debt, especially if you're over around 4000 is kind of the point at which I recommend you don't just try to snowball it yourself and actually hand it off to a debt management company. Reason being they're going to get those interest rates down from that 24%, 23% average rate that we're seeing down to between zero and typically 8% could be a little bit higher. But that's a game changer in terms of your ability to actually pay it off once and for all. You don't replace the debt, it stays right where it is. It's just that the interest rate is dropped when you work through Christian credit counselors.

And you can learn more at Christian credit counselors.org. And that leads to the third point, which is reduce interest rates. You know, getting those interest rates down is key. And then making one level monthly payment is essential as well.

Just because we don't want to see those payments come down as the balances come down. If you'll notice, with a minimum payment on a credit card when you're just paying it directly, that's a percentage of the balance. So as that balance comes down, the minimum payment they're asking for comes down, that just ensures that you're going to pay as much interest as possible. With credit counseling, you're going to have one level monthly payment that fits into your budget.

And it stays the same the entire time. So as that balance comes down, especially in light of those lower interest rates, you're sending a larger percentage of the balance every month. And that's, in a sense, a compounding effect that is going to allow you to pay that off on average 80% faster.

And so be sure to check that out. But here's the bottom line is credit card debt is just a real challenge, especially in this season of life where everything is really tight. So if we can help or if Christian Credit Counselors can help, check them out today, christiancreditcounselors.org. And if you'd like us to weigh in on your specific situation, be sure to give us a call.

Alright, we're going to dive into some questions today. We've got lines open, we're ready for you. That number 800-525-7000. You can call right now. To Texas, Loretta, how can I help you?

Yes, hi, thank you. I was calling I was pursuing buying an income house for later. It has rent tenants in it now that's paying rent. The house costs $70,000. And I was planning on paying cash for it. And I have seven to eight months of emergency funds. But a friend of mine told me not to use my money to get an equity loan. And when I went to check out the equity loan, it was seven and a half percent with a 10 year draw. So that meant I'd be paying like $460 or $70 just on the interest of the seven. So my question is, is it better to use my own money and buy the house or part of my own money and some of the loan for what do you suggest? Yeah, it's a good question.

So let me understand correctly. You said you have how much do you have in savings? In savings, I have 120. 120,000.

And you're looking to purchase a home that would cost about 70,000? Yes. Okay.

And so then you would have obviously another 50,000. That would be your emergency funds, correct? Yeah. Okay. And what income sources do you have on a monthly basis?

Nothing but Social Security and pension life. Okay. So when you add the pension and the Social Security together, is that enough to meet your bills every month? Yes. All right. Do you have usually some left over? Yes.

Okay. About how much on average? Oh, well, I'm married.

So usually we live out of one income. So I probably have about four. About 4,000? Yes. Okay. Yeah.

I mean, you're in good shape here. I think as long as you understand what it's going to take to be a landlord and you're ready for that, just whether you have a property management company, which is going to cost you about 1% of the property value, or you're going to do it yourself and just be ready if you've never done this before to deal with maintenance issues or a clogged toilet in the middle of the night or whatever it is. I like the idea of you buying with cash. Then you're not spending 7.5% needlessly.

You're not going to earn 7.5% with that in savings. So you might as well put it into the home. And now if we went through a recession and you didn't have a renter or something, you don't have to cover a mortgage payment and you still got plenty of liquid funds. Plus, for every month you're rented, you're going to be throwing off cash flow and you need to set aside some for the property maintenance, the taxes and the insurance.

But after that, you're going to actually have more surplus on a monthly basis to build your savings back up. So I like the idea of buying it with cash, Loretta. I think it's a great one. Thanks for your call. We'll be right back.

We'll be right back. Great to have you with us today on Faith and Finance for taking your call. Some questions today. I've got room for one or two more questions before the end of the broadcast today.

That number to call 800-525-7000. Before we head back into the phones, let me remind you as we head toward the end of the year, this is a really important time for us here at Faithfi to hear from you as a listener supported ministry. We're trying to close out the year strong and prepare for that for all that God has given us a vision for in 2025.

And to help us close that gap and finish the year where we need to be with listener support. Our goal is $300,000. Now what's exciting is a group of donors have come alongside us and said, we're going to put up half of that and we're going to match the second 150 to get you to your goal.

So that allows us to double every gift between now and December 31st up to 150,000 which will result in a total of 300,000. So if you've been blessed by the ministry and you'd like to support our work here at Faithfi and you'd like to get in on this dollar for dollar match to help us fund this work, we'd certainly be grateful. Just head to Faithfi.com and click Give.

That's Faithfi.com. Click Give. You can read about some of the things that the Lord has allowed us to accomplish this year and make your gift. Any gift, $50, $100, perhaps if you have a bit more and you could do $1,000 or a $5,000 gift, every one of those will be matched. As the money comes in, our donors are releasing the match to us between now and December 31st. And so we are so thankful for those who have already gotten on board and if you haven't, what a great opportunity. Again, Faithfi.com. Just click Give. Alright, back to the phones we go. 800-525-7000 you can call right now.

Let's go to Arkansas. Hi Michelle, how can I help? Hi, yes, my question is what kind of taxes do you have to pay after a sale that was in probate? Yeah, so essentially the way this works Michelle is it's the sale price minus the stepped up basis equals the capital gains. So sale price is what you sell the family property for. The stepped up basis is the value, the market value of that property as of the date of death when it was passed from the owner who passed away and it went into probate to then be distributed to whoever is the next steward, the inheritor. There is a new basis for that property that's the market value that's established independently through either an appraisal or some other means that's equal to the market value as of the date of the death of the person who owned it prior to it going into probate. And when you subtract the stepped up basis from the selling price, if there's any difference there, that would be the capital gain.

One thing to keep in mind, especially if the property was in probate for an extended period of time, the IRS considers the date of inheritance as the date on which the property is legally transferred to you as an heir or a beneficiary, regardless of whether the probate process has been fully completed. So that would be the market value that you'd use to establish whether there's any capital gains. Does that make sense? Yes, sir. Thank you so much. All right. Now, in terms of you're welcome.

Thank you. And let me just add one other thing. If there is any capital gain based on the selling price minus the stepped up basis, then that would be at a long term capital gain rate, which would, you know, right now for a married filing jointly is 89,250. Anything below that, including the gain, but plus the other combined income, that would be at 0%. And then between 89,000 and 550,000 would be 15%, which is where most people are. Anything above that would be 20%.

So that would be it would either be 0, 15 or 20%. I'd probably connect with your CPA just to, you know, help you determine whether or not that applies here. Michelle, we appreciate your call today. Thanks for being on the program.

Let's finish up today in Grand Rapids. Kiara, I'm so glad that you called today. I understand you're looking for some help with your finances. Tell us what's on your mind. So I'm 12 years old.

I'm a 10, 13. In two months, I get an allowance of $100 a month and I want to learn how to save and invest my money better. I love that. Boy, you know, this is the time to start thinking about that. And I think, you know, the first big idea is that God created us to be workers, and we're to work diligently and you're learning the value of that. And then we want to see money as a tool because we recognize that everything you have that $100 a month that you're getting and everything you will get it all belongs to God.

But here's the big idea, Kiara is that we have the opportunity to manage it for God. And so we need to know what God thinks because that's the way we manage it wisely. And so I think, you know, as we start thinking about how to handle this, it really comes down to spending, saving and giving. And we need to balance all three of those because part of what God entrusts resources to us for is for us to enjoy.

And so there's nothing wrong with spending to enjoy. So long as we think about how to use it in these other areas, including spending and giving, and really, I think the giving needs to come first, because in part, God entrusts to us his money, so that we can be a blessing to others. And so I would just say to you, you know, as you work hard, and as you have this blessing of this ongoing, I'll call it income or allowance, whatever it is that's coming into you, I would say if you can establish that rhythm right now, I've taken at least 10% right off the top. So in this example, it'd be pretty easy $10 out of every hundred that comes in, and just automatically set that aside and, and perhaps bring that to church with you on Sunday. And then if you took another 10 to 20%, 10 to $20, and put it away for saving at a minimum, and then, you know, use the rest for spending, but be thoughtful about how you want to spend it, that would be great. Now, if you want to invest it, I love that idea as well. And a great website or smartphone app to use with your mom and dad is called Stash, S T A S H Stash. And the great part about Stash is it allows you to invest using something called fractional shares. And so even if one share of a company you like and you want to invest in is too expensive, it will allow you to borrow a very small percentage of it. So you could even put in 10 or $20.

So maybe divide that spending portion into a spending and an investing category and use Stash to pick a company that you like, invest in it, and then watch it grow over time. Hey, hang on the lining. We'll get your information. I want to send you a great book and thanks for calling the program today. We appreciate it.

Well folks, we are about out of time today. As we step back, everything we do here at Faithfi is pointed in the direction of you seeing and I seeing God as our ultimate treasure. We want to be about kingdom building activities. We want to handle God's money in a way that it's evident that God is our ultimate treasure and not the things of this world. We don't want to build up those 10 story idols that King Nebuchadnezzar asked Shadrach, Meshach, and Abednego to bow down to.

We only want to worship the one true God. And that means holding God's money loosely, seeing it as a tool to accomplish God's purposes. Let's look for ways not just to give a death. How can we give right now? Setting a financial finish line and participating in God's activity. Think about that.

Pray about it. Come back and join us tomorrow. Thank you to Gabby T, Dan, Amy, and Jim. Couldn't do it without them. We'll see you next time. Bye bye. Faith in Finance is provided by Faithfi and listeners like you.