Finding Joy and Peace in Financial Uncertainty

This faith and finance podcast is underwritten in part by Timothy Plan. Timothy Plan embraces biblically responsible investing. For more than 30 years financial advisors and shareholders have looked to Timothy Plan for pro-life and pro-family investment options. Learn more at TimothyPlan.com Hi, I'm Rob West. Financial challenges can make joy feel out of reach, but as Christians, we're called to face difficulties with a heart at peace. Today, we'll talk about how to embrace joy, even in uncertain times. And then we'll take your calls at 800-525-7000.

That's 800-525-7000. This is faith and finance, biblical, faith and finance. Well, when you have financial worries or struggles of any kind, God's Word offers wisdom and reassurance.

Here are three biblical principles we'll look at today. James opens with a powerful challenge. Consider it pure joy whenever you face trials of many kinds, because you know that the testing of your faith develops perseverance. At first, that might seem like an unusual perspective on financial challenges. It sounds as if James is saying trials are beneficial, so we should simply be happy about them.

On the surface, that may not seem logical. However, scripture reveals that joy in difficult times is possible, not because of our circumstances, but because of who God is and who He is shaping us to become. James wrote his letter to believers who were far from home, discouraged and facing persecution.

They were dealing with worse trials than most of us face. And James reassured them, the testing of your faith develops perseverance, and perseverance must finish its work so you may be mature and complete, not lacking anything. When James says perseverance must finish its work, he reminds us that trials are inevitable, but they shouldn't discourage us. God has a purpose in our struggles. In this broken world, challenges will come, but through endurance we grow in faith, becoming mature, complete and fully equipped for what God has called us to do.

Weightlifters understand that muscles don't get stronger until they get torn down and built back up. No pain, no gain. In the same way, pushing through hardship builds up our faith muscles. As we learn to trust God's goodness in all things, our faith increases, so hardships are an opportunity to strengthen our faith.

That brings us to the second biblical idea. Joy and peace are not dependent on your circumstances. Financial challenges are a part of life, but joy is an attitude that looks beyond the pain and frustration of the moment. Nehemiah 8.10 reminds us the joy of the Lord is our strength. Peace is another godly response to trials. True peace comes from knowing that nothing can separate you from the love of God in Christ Jesus. Philippians 4.7 calls it peace that surpasses all understanding. In Christ, we can have that kind of peace no matter our financial circumstances.

Here's a question I hear a lot. Doesn't God want me to be happy? In other words, if God is loving, he should protect me from circumstances that make me feel unhappy.

Unfortunately, this worldview twists the truth about God's character. God is not a cosmic Santa handing us whatever we want. He loves us more than that. In Christ, we see God's love for us in action. For God so loved the world that he gave his only begotten son, that whoever believes in him shall not perish but have everlasting life. God created us for a relationship with him and true fulfillment is only found when Jesus is our greatest treasure.

Romans 8.17 says, Now if we are children, then we are heirs, heirs of God and co-heirs with Christ, if indeed we share in his sufferings an order that we may also share in his glory. Happiness is fleeting, tied to external circumstances like economic trends, bank balances, and emotions that fluctuate like shifting shadows. But God remains constant, always good, always loving, always just. Because his character never changes, we can navigate any financial challenge with a heart anchored in peace and joy. The third biblical principle to remember in financial trials is that your struggles have a purpose. In fact, there are three key reasons God may allow us to go through difficult seasons. To strengthen our faith and deepen our dependence on him. To reveal his love and provision as we trust him.

And to redirect us when we've drifted off course. I hope that's an encouragement to you today. No matter where you find yourself and what your circumstances are, may you experience the joy and the peace that God has for you. All right, your calls are next. The number 800-525-7000.

We'll be right back. Imagine having biblical financial wisdom delivered to your inbox every week, helping you integrate your faith and financial decisions for the glory of God at faithfi.com. You can join a community of over 70,000 people who are already receiving our weekly wisdom email filled with articles, videos, podcasts, and exclusive offers on resources that will deepen your understanding of biblical stewardship. Start your journey today by creating your Faithfi account at faithfi.com.

Just click Sign Up. Faith and Finance is grateful for support from Sound Mind Investing. For more than 30 years, they've offered financial wisdom for living well.

SMI provides step-by-step guidance for do-it-yourself investors, from those just getting started to those getting ready for retirement. More information, including a short video webinar on profit and peace of mind no matter what's happening in the market, is available at soundmindinvesting.org. Well, it's an honor to have you with us today on Faith and Finance. You know, this idea of stewardship is a game changer when it comes to our financial decision making, because it really is the beginning point. It's the foundation of everything we do to manage God's money. I wrote an article on this in our new publication, Faithful Steward.

Our Faithfi partners, those who support the ministry at $35 a month, will get a copy in the mail. I can't wait for you to receive it. It's incredible. It's beautiful. The articles are really thoughtful. You know, Randy Alcorn is contributing, John Reinhardt, John Cortenez, an article on money and marriage from Shanti Feldhahn, and so much more. I can't wait for you to see it.

I think it's really going to be just a game changer for you. But the article that I contributed to this first issue is really around the life changing implications of being a steward. Because you see, when we understand that we're, as the New Testament describes it, a household manager of God's resources, think about that. You know, a household manager oversees a home on behalf of the owner. And in the same way, we manage God's resources. We own nothing. We're responsible, though, for everything under our care. And this, of course, extends beyond finances. I mean, this would include our time and our talents and relationships and more. But the idea is that everything we have is God's and we must manage it wisely to bring him glory.

And the implications are many. I mean, I highlight several of these in the article that stewards have responsibilities, not rights, that stewards are accountable. Romans 14, 12 tells us that each of us will give an account to God for how we manage his resources. Did we use them to advance his kingdom, care for others and reflect his character? Or did we waste them on selfish pursuits? Now, don't get me wrong, it's not wrong to enjoy God's provision. But to what end? Are we using it to fulfill a need that should ultimately be filled by God himself as our ultimate treasure? Well, we all need to be asking ourselves that question. Stewards live with an eternal perspective.

It's not about the temporal. Stewards invest in things with eternal significance and that aligns with Matthew 6. Jesus says, lay up for yourselves treasures in heaven. Earthly wealth is fleeting, but how we use it can have an eternal impact. And as Randy Alcorn writes in the popular, very small, quick read book called The Treasure Principle, if you haven't read it, I'd encourage you to do so. He says, and this is the big idea, you can't take it with you, but you can send it on ahead.

Just a few more. Faithful stewards are faithful in small things. That's right. Luke 16 10 reminds us, one who is faithful in a very little is also faithful in much, and one who's dishonest in a very little is dishonest in much. So we have to manage even the smallest resources with care, knowing that God sees and rewards our faithfulness. Stewards hold loosely and give generously.

You know, that open hand posture allows God to take out but also to put in. And I think that reflects the trust that we're to have in him to provide our needs. And we reflect God's generosity at the same time.

Last idea, stewards don't take credit. Luke's 12 13 to 21, Jesus tells the parable of a man who hoards wealth focusing on his possessions, instead of being rich toward God. You see, that man takes full credit for his success.

I mean, he says, I and my I think like nine times in that very short story. He doesn't acknowledge God's provision. In contrast, I think stewards recognize that everything we have comes from God and we give him the credit for any success. So here's the big idea. By living as faithful stewards, we honor God as the true owner of all we have in this mindset.

It literally transforms how we approach our finances in our lives, leading to greater purpose and responsibility and even joy and ultimately, how we handle money. Well, it reflects our commitment to Christ and our trust in him for all things. I hope that's an encouragement to you today. Perhaps a challenging word for you today. I'm talking to myself at the same time.

We all need to hear this from time to time. By the way, if you want to read articles like this one that I've referenced today and all of the others and have this new publication delivered to you quarterly, consider becoming a Faithfi partner. You can do that. faithfi.com.

That's faithfi.com. Just click give. All right, we're going to head to the phones here in just a second. We do have lines open. This would be a great time for you to call. We want to transition into helping you manage God's money in light of the things that you're dealing with in your financial life right now, whether it's investing or debt. Maybe it's your spending plan.

You just can't stay on budget. Maybe it's that pesky credit score. Whatever it is, you can call right now. Lines are open. Here's the number, 800-525-7000. Again, that's 800-525-7000. We'd love to hear from you.

We're going to begin today in Illinois. John, go ahead, sir. I appreciate your ministry, Rob. And yeah, question on behalf of our spiritual son, about $4,000 in the hole with four payday loans and wondering if the Christian Credit Counseling group that you recommend can help him.

Yeah, you know, this is a tough one, John. We've got to break this cycle. I mean, the average interest rate for a payday loan is, you know, would just blow your mind because Oh, I know.

I warned her. Well, they're short term, and so they don't sound as bad as they are. But when you run them out, you know, over a year, I mean, this can be just astronomical.

You know, it can run maybe, you know, 300% of 500%, some even exceeding 600% annualized. So I think, yeah, your work to come alongside him to understand just how this needs to go away. And we need to find other solutions is key. Of course, yes, we want to deal with the debt that's owed. But the underlying issue around him being able to live within his means, especially once he gets out from under this, being able to have a spending plan that balances so he's not ever forced to go back to these types of things again, or even as bad as credit cards on our, you know, to go to the credit cards. Yeah, I would reach out to Christian Credit Counselors, christiancreditcounselors.org, where they really shine is with credit card debt. And here's why. You know, they can just slide you right into an existing program where that interest rate where it's instead of 600%, it's 23%.

But that's, that's still not good. That's going to drop to between zero and eight, typically, some cases as high as 12, you send one monthly payment, you know, these loan sharks that offer these payday loans, they're not set up to work in quite the same way. You know, they know they've got you and they're going to get every dime out of you. But at least perhaps they can engage with the payday loan company, you know, get perhaps get the interest rate down, there's no guarantee. But at the very least, he could send one monthly payment that fits into his budget, just a one entity knowing that they'd all be paid on time. And then the key would be whatever he can do to dial back his spending. So he frees up margin because we're going to want to send as much to that as we possibly can to get that principal down, you know, out of every paycheck. John, I'd be happy to offer just as our gift to you and him, one of our certified Christian financial counselors will cover the cost, but essentially what this trained, godly stewardship professional would do is come alongside him to help him look at that budget and help put a plan in place. Maybe, you know, look for areas to dial it back, maybe give some creative ideas on how to set up the budget and maintain it on a monthly basis. Do you think that's something he would take advantage of?

Well, you know what, there's no harm in trying. I helped him try to budget the first time. But yeah, that's, that's a great offer. Do you have time for one more quick question? I do after the break.

So you stay right there during the break. We'll get your information and we'll get the certified Christian financial counselor connected with you so you can make the introduction as long as he's willing to use it. We'll be happy to cover the cost.

Stay right there, John. We'll get your next question after the break. We're just getting started here today. We've got some great questions coming up. We do have a few lines still remaining open. So if you have a financial question you want to get in on the conversation, this would be a great time to do it.

800-525-7000. You know, our goal in this program each day to be an encouragement to you, to be hopeful and wise, also to be reverent to God's Word. We believe stewardship of God's resources is a high calling. We want you to get that right.

We'll be right back. Are you a financial advisor or CPA seeking to build your practice on biblical wisdom? Not only does the Certified Kingdom Advisor education provide you with deep biblical insights, the CKA designation sets you apart. Each year almost 50,000 people search for a Christian financial advisor. Join our community and share your expertise with clients looking for someone who shares their faith and values.

Find more information at kingdomadvisors.com slash get certified. Hey, thanks for joining us today on Faith and Finance. We're taking your calls and questions today. That number to call 800-525-7000. Again, that's 800-525-7000. You can call right now. We were talking to John in Illinois before the break. He's helping a friend out, trying to get him on track and out of some payday loans. John, I know you had a follow up question.

Go ahead. Yeah, there's a host here in the same area I'm at. About to retire. They're giving him a severance. $3,000 a month for six months starting at the end of March when he's forced to retire. 64 years old and just wondering, I don't know how much he's gotten his IRA through the company, but he's got probably about $10,000 worth of debt, I'm estimating. What would you suggest he do as far as, I mean, obviously pay the debt off, but as far as rolling over the IRA, keeping it and then handling that $3,000 severance a month.

Yeah. So a couple of thoughts here, but a question first. So he's got severance. Is this a transition into retirement or will he go back to work?

Yes, probably into retirement. Okay. And the $3,000 severance, how long does that last?

Six months. Okay. And then what are going to be his income sources at that point? I think that would be one.

And then I believe he said he's got something, some way to work out social security. Okay. I don't know. He's only 64, but that's what he said. Yeah.

So that's key. I mean, we need to look at this six month severances, you know, just what it is. It's temporary and we can't build a plan around it. I would say the best use of that money would be to get out from under the credit card debt so long as he's got a plan not to go back into credit card debt.

We fixed the problem that got him there. And then he needs to start working during this six month period to figure out, can I live on social security alone? Because if he can't, then the only other option is consider some part time work. Or thirdly, and maybe a combination of the three, but thirdly, begin drawing an income from the IRA. How much is in the IRA? That's what he didn't tell me that yet. But I'm gonna guess $100,000. Okay.

Yeah. So we would only, you know, if you want to try to allow that to last, I mean, you could start with a 4% withdrawal rate, but that's only 4000 a year. So that's going to give him another 350 bucks a month, roughly. So the question would be, you know, he doesn't need to roll it anywhere, the IRA can stay right where it is, the question is, who's managing it?

Let's make sure we have somebody that can, you know, give professional oversight to that IRA. And I think the starting point would be to say, okay, if you were debt free, which means you take the, you know, 18,000, you're going to get over the next six months, you pay off the credit card debt, and we take the rest of it, and we shore up his emergency fund. So he's got, you know, some liquid margin, I'd love for him to have at least six months worth of expenses. Then the question would be, could he live on Social Security, recognizing he's gonna have to take it early, which means it's going to be reduced, you know, probably as much as 25%. If he's taken it three years early, that could be a little less than that. Social Security at a reduced level.

Plus, in my example, if it's 100,000 in the IRA, $350 a month, as long as it's invested to make that up over time. And if he can't, then we've got to either, you know, continue to work so that he can continue to build Social Security toward his full retirement age benefit, or, you know, look for some other option. Does that make sense? Super. Thank you.

Yeah. And he could use Kingdom Advisor. I've talked to him about that.

So yeah, yeah, he can find a CKA to manage the money at faithfi.com. Just click find a professional. Hey, John, thanks for calling, sir. You sound like a great guy coming alongside some, some friends helping them to manage their money wisely.

Maybe there's a ministry here in this for you as well, as you serve other people. Thanks for calling today. Call anytime. 800-525-7000 is the number to call. We've got some lines open. We'd love to hear from you with whatever is happening in your financial life today. Again, that number right now.

800-525-7000 you can call. To Alabama. Hi, Bill, go ahead. Hey, how are you today? I'm great. Thank you, sir. Good. So I had a simple question for you.

I listen to you quite frequently. I'm 70 years old. I'm approaching retirement. I'm thinking about retiring this year. And I've managed to accumulate a little bit of money in an IRA. And recently, one of the well known investment firms has reached out to me and suggested I put those funds in their hands.

I've always self managed it. I'm not an investment guru. I don't know a whole lot about it. I'm kind of conservative. So my my investment return for the year has been around 18%.

They say they've been almost able to do twice that much. I don't know if I can I mention their name? Sure. Fisher Fisher.

I met the threshold of the 500k they require for investment. And I just don't know, I'm just a little concerned about losing that control over the direction those funds go. And just wanted to, you know, your opinion on that? Yeah, so here's my thought, Bill, can you do it yourself?

Absolutely. If you have the time and the expertise, you're, you know, willing to put in the time. And you can, you know, really make a rules based decision. That's not, you know, emotionally driven that I think the biggest challenge with folks that manage their own money, especially when they build up a sizable nest egg, like you have, is they just tend to second guess themselves, and, you know, tend to make the opposite decisions that they should when the markets go down. And, you know, you need to stay the course they tend to sell when the markets going up, you know, they tend to invest more.

I mean, they so you know, you just end up making irrational decisions that result in, you know, losing money. And often a professional is able to just really bring a more thoughtful rules based approach to it. I think the second issue is just the expertise that's there in terms of the types of investments that are used. And to the extent you want those investments filtered through a value lens for your faith values, that can be brought to the table as well. I've never had any experience with Fisher directly.

I know they advertise a ton and they're massive. I don't have anything negative to say, other than you know, what we recommend on this program is for you to connect with a Certified Kingdom Advisor interview two or three. And I like the idea that somebody who's walking alongside you would not only have the experience and the expertise and the track record, but that they would share your values as a Christ follower, and, you know, have this the extra, you know, meet the extra standards of achieving Certified Kingdom Advisor. And so that would be my recommendation to you. But kind of back to your original question, I just think you spend your whole life building up this nest egg.

And I'd rather you not put it on autopilot. And I'm not saying you're not going to manage it actively or well, you certainly could, and have done quite well, clearly. But I just think for you to be able to enjoy what God has for you next and know that somebody who's working for you, waking up, thinking about this portfolio and how it needs to be managed to minimize risk, preserve what you have, and grow it appropriately in this next season of life is worth the fee, in my opinion.

But that's just my two cents. Hopefully that helps you, my friend. Thanks for being on the program today. Again, folks, if you'd like to find a Certified Kingdom Advisor in your area, you can do that by checking out our website, faithfi.com.

Right there at the top of the page, it'll say find a professional. Well, a big thanks to my team today. I certainly couldn't do this without them. Producer, Devin, we're grateful for Devin's great work.

Sandy handling our phones today. Taylor Stanwich providing great research and helping me navigate the program today. And everybody here at FaithFi that allows us to bring you this ministry every day. If you'd like to become a partner of ours, those are God's people who come alongside us monthly. You can do that at faithfi.com. Just click Give, and we'll be able to send you a copy of our brand new publication, Faithful Steward. May God bless you. We'll see you tomorrow. Bye-bye. Faith and Finance is provided by FaithFi and listeners like you.