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How to Practically Help the Poor

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
July 17, 2020 8:03 am

How to Practically Help the Poor

MoneyWise / Rob West and Steve Moore

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July 17, 2020 8:03 am

God tells us to have compassion for the poor. But he also says that if a man won’t work, then neither shall he eat. So, which is it? Give him a sandwich or a job? What is the Christian’s true responsibility to the poor? On the next Moneywise Live, hosts Rob West and Steve Moore, welcome Howard Dayton to help us find the biblical answers to that question. How to practically help the poor on the next MoneyWise Live at 4pm Eastern/3pm Central on Moody Radio.

Rob West and Steve Moore
Rob West and Steve Moore
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Rob West and Steve Moore
Rob West and Steve Moore
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Josh Whitaker & Joe Hamer and God tells us to have compassion for the poor, but he also says that if a man won't work that neither shall he eat. So which is it a sandwich or a job and that question leads us directly to the intersection of grace and truth. What's the Christian's responsibility for today host Rob West asked for answers with our date compass that we take your calls to on anything financial 800-525-7000 800-525-7000 times more practically help the poor. Next right here moneywise Robert Goodfriend Howard date as the original host of the moneywise program. He's also the founder of compass, finances, God's way and by doing those things. Howard continues the long legacy of teaching God's financial principles, something we'll talk a bit more about later in the program. Yes, we will and thanks Steve Howard delighted to have you back with us on your Procrit. Thanks moneywise are beyond really really appreciate the job you do it. Thank you Sir. It's a privilege to come behind you and carry this legacy on Howard. I'm excited about this topic today.

We often find their admonitions in the Bible that it first blush seemed to be contradictory.

Is that what we find on the subject of helping the poor. In your view about God required of his people and there's really no contradiction whatsoever.

We all have the responsibility to work hard and you have the responsibility to help those less fortunate not to rob we can first take a look at the responsibility of working hard from God's perspective. Exodus 20 verse nine felt six days shall labor and do all your work and in Proverbs 1227 and the precious good session of a man diligent. I will have to talk to Paul All alone in 310 and when he wiped when we were with you, we used to give you this order. Some versions the command. If anyone is not willing to work not to beat the no working out principal somebody called physically and mentally able that we should work, and frankly, we should expect the need to work as well providing that they're able to work yes well and on this topic of work Howard I know you thoughts and it's really critical that we pass this principle onto our children as we try to articulate God's view of how we should look at his resources that includes teaching the value of hard work doesn't absolutely and it's one of the heritages character that we can leave our children and frankly my age, influence our grandchildren to work hard because God designed workout that we made it were most not only productive but most have a good work ethic. Got a minute or so before the break.

Let's begin to unpack the other side of this requirement and that is to help those in need, but what would you have us to know their well there are literally hundreds of verses in the Bible, feeling wobbly responsibility to help the needy, really, really, I got word should define the person who knows Jesus Christ and example or two problems 2113 shelters ship near to the quiet, poor also cry himself and not be answered and Jeremiah 2216 Euclid because of the afflicted and needy. Is that not what it means to know me, declares the Lord, which really on God's heart Howard Dayton with us today. He's a good friend. He's an author.

He's a teacher he's been teaching these financial principles for multiple decades now and were honored to have them on the program help the poor concept we all need to understand and apply the moneywise live. After this you like your life to be infused with joy. Would you like to interject an internal dimension into even the most ordinary day.

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Just getting started making choices in a 401(k) or getting ready for retirement all grounded in consular SMI slogan is financial wisdom for living well. More information is available online. Sound mind investing SMI website also includes articles, and money and investing sound mind freedom and liberty are great words to describe our citizenship here in this amazing country. But when you feel tangled up on the inside. Freedom can seem like an impossible dream. Problems can overwhelm us to the point that we feel like a prisoner with her mind racing and struggling to find relief get out of control, we turn to drugs, drinking, or anything else to make that pain go away. But that brings even more pain and freedom becomes more elusive. There is another way the Bible says in Galatians 51. It was for freedom that Christ set us free. You can have true and lasting freedom through relationship with Jesus Christ. Get rid of the bonds that keep you from peace and freedom learn how to have a personal relationship with Jesus Christ, and make this your Independence Day call 888 need him 888 need him or click over to chat about And if that is running you will, freedom and peace of mind. Christian credit counselors can help where a nationwide nonprofit counseling organization has helped over 3000 individuals in the last 27 years get out of credit card debt 80% faster while honoring that data and phone to learn how Christian credit counselors can help you visit Christian credit Christian credit or call 800-557-1985. Have you with us today. Our good friend Howard Dayton, the former host of this written program joins us from his home in Florida and today were talking about will want you out of debt.

Once you understand God's plan for your life. How can you help others plan and live their lives and that's our discussion topic today that were talking specifically about the intersection of grace and truth.

In this admonition that we see clearly in God's word that were to work were to be productive, but were also to be generous and that most certainly includes helping those in need. God's word is very clear on that and Howard you talk to us about the passages that talk about the importance of work.

Really, it's a mandate, but you also talk about this requirement to help those in need, and you mentioned passages from Proverbs and Jeremiah would talk to us from the New Testament about what you see here in this area as well will most go to meeting all Scripture when it comes to helping the poor is found in Matthew 25 and this is where Jesus is talking about the date he's going to return to earth to judge everyone on the planet and then he says this about himself king will say to those on his right company left by my father, inherit the kingdom prepared for you from the foundation of the world. I was hungry and you gave me something to eat, I was thirsty and you gave me drink, I was a stranger and you invited me in making you called me. I was thinking maybe I was in prison and you came to me than the righteous will answer him, saying, Lord, hungry and thirsty drink for current president company in the total answer and say to them to you. To the extent that you did it to one of these brothers of mine, even the least of this you get that is so powerful. We can move past that quickly. We gotta stop and really ponder that because power that really should shape how every Christian thinks about helping the poor is not right absolutely robbed me think about this for a moment she so personally identifies with the core when you give to those actually giving to the person of Christ behind blowing in the reciprocal of that terrifying when we don't get to the core, actually leaving Christ himself hungry and thirsty. I don't know how that works but it's in God's word and it's true for me, the most motivating pathogen. All Scripture when it comes to helping the poor.

Well, it's just a question about its Howard, we have these two mandates in the Bible you articulated them clearly followers of Christ should in fact help the needy but the needy also have a responsibility to work if they're able.

So where do these two very different attitudes intersect well make intersect in the gospel John 117.

Read grace and truth came through Jesus Christ, and it really only in that marriage of justice and mercy that found in the part of somebody who knows Jesus and wants to follow so if a needy person is working hard trying to get work helpful. But if a needy person capable of working but chooses not to work.

Certainly pray for them and encourage them to look for job help find a job help them get to catch the vision of how important it is to work, you might want them a little bit financially for a short period of time, but from God's perspective for them to work. As I said earlier, God made us to work yes well I think that sums it up nicely and it's this idea that both mandates are important and they're not necessarily at odds with one another. That's right. Some of our older listeners might remember that it was the late Larry Burket who first brought God's principles for managing money to the airwaves way back in 1982 I had the honor of serving with them for many years starting in 1985. Know that torch was eventually passed to you. Tell us about that. Well, it's hard to believe years ago when Larry went home to be more dominant for the July fact that we have merge ministries in 2000 because he had a serious kick cancer and just like home follower of Christ only interested in honoring the Lord, you know, I've known some well-known people and often the closer you get to them. The more you see their flaws. They don't have the character you thought they had with Larry was just the opposite closer we became more. I admired Larry's walk with Christ and I've been Larry the hospital room.

When I overheard the doctor saying that his vitals will becoming worse and that he soon I would die and the purse that came immediately to mind was second Kings 13 seven when Elisha saw Elijah hubby and taken by the board in the world when Elisha cried out, my father, my father, the church that Israel and its horsemen, and at that moment Elijah Taft became his task and I realized that what the Lord wasn't pressing on my heart was that Larry's job on radio was now my job my task cannot be personal here.

Rob I don't know how many times Larry said to me when it comes time for you to pass this along to your successor. Make sure they love Jesus and have a pure heart.

Yes, they have to know what the Bible says about money, but most importantly they have to have the heart to serve God's people and that's the person I found in you and I'm so grateful to the Lord for his bringing you the money was completely, way but how he is using you to reach so many more people I want to say a word to our list moneywise you list are supported and as you probably know, getting in general is down the ministries because of the coronavirus so I want to encourage not to make a donation moneywise now because it's so important to keep this program on the air reaching people all across our nation and mambo feel little encouragement for the future minutes. Your turn to look out for your successor. When that time come for that person just like yourself as the right lower think I continue to be overwhelmed at the opportunity. Frankly, the responsibility to walk in the path in the shoes of giants of the faith, and I mean that Larry Burket and Howard Dayton, and you've been an incredible mentor to me and I count it a privilege to build to serve God's people with the same heart that you and Larry had and that was a recognition that we share God's financial principles. It's really not about the money it's about seeing God's people freed up and walking in a more intimate relationship with the father you model that so well and that's our prayer. Steve and I each and every day and the entire team with the opportunity to be invited into the stories of our listeners and to encourage them to pursue Jesus with all they have. So thank you for the mantle that you pass.

Thank you for your legacy and thank you for continuing to be a big part of our lives in this program.

Each day following my love you in the S thank you so much for your time and your kind words. I guess is been Howard Dayton, founder of Compas finances God's way you can find out more about that important ministry at compass 1.a large your calls next moneywise. Here's a great deal more about our money than most of us imagine anything.

Jesus says more about our use of money and possessions and about anything else, including both heaven and hell in managing God's money, author Randy Elmer and breaks it all down in a simple, easy to follow format that makes it the perfect reference tool if you're interested in gaining a solid biblical understanding of money, possessions and eternity managing God's money is available in the store moneywise to match the you you with pleasing and perfect next generation generation and it's good you can count your thinking. We can your heart. Thank you for everything in the private placements are spiritual lots we become convinced here he knows what the mind is any where Bible study. No problem buying a home is the largest most nerve-racking perches. Most of us ever make. It doesn't help that you rendering a maze of unfamiliar words and confusing options that can leave you intimidated frustrated and afraid to been taken advantage of navigating the mortgage mates by Dale Vermillion help you clear up the confusion on rack your nerves and make the best mortgage decisions possible with confidence navigating the mortgage made available when you click the start button moneywise today. Thank you so much for joining us moneywise live less phone number is 805 7000. We have several open lines, which means time and space for you to get in today with a question or comment on anything financial that we might be able to help you with just one her opinion on something.

So let's begin Sioux Falls, South Dakota hi Michael, what you question or comment for Rob. I all here by Everyday and I really enjoy it the other day I talked about not take out loan and the biblical principles behind that which I agree with and it got me thinking. My wife and I are thinking about starting a business and wondering what your opinion was what the Bible might say about borrowing to start a business. Yeah. Well first of all Michael, thank you for your kind remarks. Appreciate you listening via podcast and by the way, that's a great way to tune in.

You can listen here on whatever radio station brings you moneywise. Each day, but for the sake of our listeners benefit if you find yourself out and about.

You want to listen via podcast were on all the podcast platforms or you can find us as well.

It moneywise Michael, you raise a great point, you know, as we think about borrowing a high level.

We recognize that really the absolute minimum that God's word establishes for anyone who's Bart who borrows is found in Psalm 37 of the wicked borrows and does not pay back, but the righteous is gracious and gives.

So gives.

So what we know is that we absolutely have to pay back what we borrow. That is the mandate. Beyond that, we recognize God's word talks a lot about how the relationship is changed when we borrow when we are a lender versus a borrower or vice versa. The Bible talks about that and describes it as a lender slave relationship it does in fact change that relationship.

And so we need to recognize that especially when were lending or borrowing from somebody who we know personally. A family member or friend.

We also adjusted recognizers, clear warnings in Scripture about borrowing and so we need to seek to get out of debt, doesn't mean the borrowing is a sin, but we need to be purpose in ourselves regardless of what type of debt it is to get out from under it. Now my good friend Ron blue has laid out some principles that I think may apply here that you could almost see as criteria for deciding whether or not you should borrow money. Let's just move through them quickly and apply them to your situation or Michael.

The first is the cost should be less than the benefit that seems to make some sense in the idea. There is there is an economic cost of borrowing in the form of interest there may be some other costs as well.

Transaction costs well. The total cost should be less than the benefit. Secondly, there needs to be a guaranteed way to repay the debt, and that's this idea of surety.

Now obviously, if you have a business you now have the ability to sell that business or you have an asset that's attached to a debt that gives you a way to repair realize it's not always that easy, especially something that's illiquid, but the idea is that you have a method for any way to repay it.

Secondly if thirdly, if you're married, that both husband and wife agree this is something Ron has really emphasized significantly over the years and I really like the idea behind it that you know when we borrow we should come together as husband and wife. And if one person is not a board we just don't do it for you should have a piece of mind about borrowing and that would be after great prayer and then it should help you achieve your God-given goals. But you as you evaluate that I think certainly borrowing for a home as long as we don't buy too much house. If it's in the budget.

We got an asset that should be appreciating.

Especially if we have a significant down payment going into it that would be a good thing. Borrowing for business I think would be another one of those kind of permissible debts, as long as I think here's a mistake you don't borrow too much. You don't realize especially with the new business that is gonna take often longer than you expected to see the money coming in, and therefore you need to have the proper reserves in place that maybe one of the reasons for the borrowing, but you certainly have to factor in the debt service and make sure you're being realistic about how long you need to be able to float that before you see a return enough to cover your true expenses, including the debt service and pay yourself what you're expecting for your own personal finances.

So I think at the end of the day there's not any clear prohibition here. I think you just need to be careful and I think running it through these principles is always a good idea. This it makes sense. Yeah, absolutely. Thank you. All right. We appreciate your call. Michael God blesses her. Thanks Mike. Unfortunately, unless I'm incorrect on this around the Bible doesn't specifically mention borrowing to start a business doesn't know why.

I don't think we could point to chapter and verse there. So I think we have to apply the broad principles around that and borrowing heed the warnings and and then proceed cautiously an email of this one is from Ray. He says dear Robert financial advisor is a family friend and we go to church together he's making poor choices in his personal life that makes us wonder just how wisely he's managing our investments. Should we look for a different advisor boy about that. Now that's a tough one.

I mean, I wouldn't say depending upon what it is, it would automatically be a disqualifier. You may choose because of his skill and expertise, and perhaps because of your influence in his life toward the Lord, you may decide as long as they're not something there that it would be a clear violation of law or he's acting out of bounds with regard to the business that he's conducting on your behalf. Perhaps at some poor lifestyle choices that you may decide to press on and use your influence to perhaps appoint him back to the Lord and ultimately toward yelp confessing the sand and turning now. Yeah, I think this is one of those areas clearly where there's a benefit to having somebody who's working on your behalf, especially as it relates to how your stewarding God's money that the values are aligned and if you just have a concern about this. Perhaps you do need to part ways and then still be a friend and encouragement, a prayer support for this individual to perhaps bring this area of his life under the Lord's leadership something I think at the end of the day there's not a clear direction one with the other. I would pray about it and then move forward with clarity as husband and wife on making this decision can Ray. We appreciate that email.

Thank you very much. If you have a freak email from Rob just a line or two. Feel free to send it along to questions@moneywise.oig will be right investing is more than just return it's an expression of who you are and what you value is the way you invest your money reflect your identity as a Christian at eventide. We design investments for performance and a better world so you can invest with the confidence to reach your financial goals while remaining truly are Christian values and commitments. We call this investing makes the world rejoice more is available and best invest Christian healthcare ministries enables believers to meet their healthcare costs affordably, biblically and compassionately.

It's not insurance but a voluntary cost-sharing ministry based on the biblical example of Christians sharing each other's needs and members are defined under the law for not having health Christian healthcare ministries might be your health cost solution call 800-791-6225 or visit CH Moody radio verse of the week is found in Revelation 99 and they sang a new song, saying where the are you take the scroll and open it seals you were slain or blind you ransomed people for God from every tribe and language radio verse of the call one 800 money and life run on the same track. Unfortunately, sometimes it seems like your money is heading in a different direction from your goals and never enough three keys to financial contentment. Author Ron blue helps you to break down all your financial options to a basic floor and then shows you how to keep it all chugging along in the right direction on the same track never enough three keys to financial contentment available when you click the store California Gov. Gavin Newsom has laid out strict criteria for school re-openings that make it unlikely the vast majority of districts will have classroom instruction. In the fall as the coronavirus pandemic surges Newsom's new guidance mandates that public schools in California counties that are on monitoring list for rising coronavirus infections cannot hold in person classes and will have to meet strict criteria for reopening Georgia Gov. Brian While suggesting people mascot is not mandating it. He says local mask mandates like one in Atlanta cannot be enforced and devastate businesses Supreme Court Chief Justice Ruth Ginsburg says she's undergoing treatment for recurrence of liver cancer. She's undergoing chemotherapy due to recurrent since May on Wall Street. The Dow dropped 62 points today.

This is SRN use a lot of moneywise if you like to call in. This would be a great time because we have some open lines.

That's not always the case. I am just no charge today which charge if you like to speak with Rob West today.

Give us a call right now 800 525 7000 agreed to use a great concept to remember.

It's a biblical principle. Obviously, all things are lawful to me but not all things are profitable. First Corinthians 612 something to really consider as you enter into things like taking out loans and things like that all things are lawful to me but not all things are profitable. God give us wisdom, Bristol, Wisconsin hey PJ, thank you so much for your patience and what you question today very much hanging my background I am retired I have accounts which contain my I like institutional platform faith and managing dollars accounts myself over the last oh more than 10 years and I'm starting to wonder now about how I can thank you Kate Knight about managing the act that and for any back pain. I started close to home and I asked with this particular institution what their affect management services were light and was basically told that it all or nothing. We manage everything for you and we sort of way to deconstruct what you have now and do it according to our model using our product and I would have to sign up for that and I'm wondering now I'm hearing about defined kingdom and find a niche or a genre and fight where I could I could pay a professional.

Perhaps to help me become more educated as far as how I could continue to manage my affect and maybe learn about other ways. I think acting without having to undo everything and give all control over to another party, such a professional. Yeah, it's a great question PJ and I certainly can appreciate both the responsibility that you are assuming is your managing God's money entrusted to you. You've worked a long time and very hard to save what you have and yet you want to be actively involved and you're even willing to get some education in order to do that.

It's a challenging situation because the big move right now in the financial services industry is toward something called a fiduciary and basically what that means is if you're a fiduciary advisor you are having the responsibility of acting on behalf of another person or entity with obviously the utmost honesty and integrity, but you're also assuming responsibility for the advice that's given in the case of an investment advisor for the management that's given as well.

One of the benefits of having somebody who acts on your behalf to make decisions is that they are compensated in such a way that they have no incentive to choose one investment or product over another because they're being compensated based on the assets that there managing and so then there freed up not to recommend a particular product that might generate more commission than another, but just to act in the best interests where their interests are aligned with yours and that is to grow your assets so the challenge is where you try to find yourself in this middle ground between I don't want complete sole responsibility and do it all myself. But I also don't want to turn it over to an advisor, who's taking the responsibility of managing this for me on my behalf. I want somewhat of a middle ground. The only thing that would be perhaps in line with that approach would be something like what's called a Robo advisor where you would answer a series of questions in a portfolio would be built based on your answers to those questions, but you're not really that you're still in the driver seat in terms of how you might tweak those allocations and you typically in that style of investing be using broad indexes to capture that the large moves of the market. The other approach you could take would be to use mutual funds with active managers and so in a sense, you would be going out and selecting the managers for these particular mutual funds and you could get some help from that from a summerlike sound mind, where they will not only educate you on investing and how to handle God's money, but also make a series of recommendations on mutual funds to choose based on the style of investing you want to do and at the end of the day you have to be the one to actually make those selections so that would perhaps be the closest thing I think to a middle ground.

If you will, and again the website is sound mind, typically with a certified kingdom advisor. Although an investment professional can attain that designation and still have quite a bit of latitude as to how he or she would structure their business in terms of whether fiduciary or not, how they are compensated. What style of investments they choose and what their investment methodology is, but more often than not PJ. You would find that those folks would be taking over management of the assets on your behalf which may not be exactly what you're looking for so I think perhaps as a next step for you would be to visit with our begin reading some of the articles begin learning and see if perhaps there mutual fund strategy where you're still the one making the decisions with their input may be the best fit for you and perhaps to get you started on that journey. What I'd like to do today is to send you a copy of the sound mind handbook which is a wonderful resource based on biblical truth that will introduce you to this whole area of investing and perhaps help you leapfrog a bit on your learning curve design will make sense.

I need to start my learning curve and parent mind asking that our contract okay.

You're very welcome you hold the line, and a Judy or producer will get your information will get the book. God bless BJ.

We appreciate your call. Thanks very much. By the way, that book is available to anyone who wants to check it out when you visit our website moneywise we can't sizable book. We can afford to give them to everyone, but in certain cases, we like to make them available. So again, you might want to check it out for yourself moneywise scroll to the bottom of the page where you see a couple of the areas where you can click that says resources and store Nashville, Tennessee Dena, are you an aspiring musician. So I guess not everyone in Nashville is trying to make it a lot grander can we help you today biblical mandate to provide for your children know what you do if you don't yeah well I think this idea, and you're probably referring Dena to Proverbs 13 a good man leaves an inheritance to his children's children, and the wealth of the sinner is stored up for the righteous. You know, and in my view, this means that a person who follows the Lord will have a valuable inheritance to pass on two generations to come.

By the way, I wouldn't necessarily interpret that to mean that that has to be a financial inheritance. That inheritance will not only be financial but social and spiritual. It could be wisdom, kindness of a number of godly virtues. Certainly we need to be preparing the next steward and that includes and a whole host of areas.

I think in contrast, one who does not live righteously have nothing of value to pass on the tax deadline will talk tomorrow if there will be right back. Do you know if you have enough money of house. Do you know how much is enough.

If not, one blue can help with this book. Master your money a step-by-step plan for experiencing financial contentment. Learn how to save and invest and give wisely, how to create a long-term financial plan and how to get out of debt.

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Master your money by Ron blue available when you click the start button moneywise to work where I'm a car guy here to help you understand the urgency and how fun it is to share your faith at every opportunity. Share your faith is most Christians believe requires getting people on their knees and praying the sinner's prayer but never happened. In fact, you really have the opportunity to lead seven to the Lord, but you can move everyone every day closer to Jesus.

God is using this chaos to bring people to him in amazing numbers over 80% of the unchurched know the world's out-of-control would like to believe there's a God who can make sense of the chaos and are looking for something to tell them that all your excuse for not just that excuses is you can't do is you can easily by simply expecting God to open doors and love people. There's nothing more exciting than knowing God just use you. At least somebody join God, where are the one doing, where have you gone that's musician Ryan Stevenson talking about his life and his mom died, his record label dropped his wife suffered a miscarriage felt like a locomotive railing and I was on it and I just under a pile of smoldering rubble. There is nobody help me. It was incredibly hard. Ryan cried out for some reason I just had this unshakable peace and just confidence that God was up to something. See something like this would happen to you as Billy Graham once asked are you able to stand in the face of the storms of your own life, say I got all that we cannot see Christ in touching and believe in Christ and trusting Jesus find peace with God. Graham evangelistic Association, the financial wealth you leave behind could be the best thing that ever happened to your loved ones or the worst in splitting hairs, giving your money and things to your children without ruining their lives. Ron blue explains why it's important to make these decisions now, instead of forcing your heirs to do it later.

Splitting heirs will foster a real appreciation for the precious resources that God has entrusted to you, and it's available. Click the start button moneywise love moneywise.

Please understand my money. Barbara and Ed know we are coming in your direction. The first is Helen calling from Cleveland, Ohio.

We appreciate your patience. What's in your mind. I calling my mom equal 90 years old and it will know we will file everything basically and so we change the will, and so on. But my question is in doing it will, I'm wondering is there anything H2O will truck or the truck and sure is a great question, Helen started. First of all that you hear about your mom's passing this past April, but I'm grateful that you're helping your father navigate this situation and make sure he's well prepared moving forward that there are some advantages to a trust over a last will and testament, probably the primary one is avoiding probate so as you might know what you've just been through it, probate is the court supervised process of transferring assets from a decedent's ownership in the name of his or her beneficiaries, that the living trust revocable living trust doesn't require probate because essentially the trust owns the assets that are titled in it and it lives on in a successor trustee can be named to step in and take over management of the trust when the grantor dies, thereby settling in and distributing the property to the beneficiaries. It also maintains privacy if that's a concern or of interest to you will becomes a part of the public record, whereas a trust is not. There is also the benefit to of planning for mental disability, assuming the trust is put together properly. But the successor trustee can step in.

Even though the person is still alive, but if they become unable to manage or handle their own affairs, so the trust documents would specify how that's determined, but it does allow for someone to step in prior to death. Where is a will is only triggered at death and then there's just a few other benefits. It's a little bit more changeable and flexible.

It can minimize challenges to the estate.

It can segregate assets, but the main one is just disability for somebody be able to set up step in prior to death for avoiding probate and then for the privacy issue. If those aren't of a concern to you or the estate is very small or something like that. You may just decide that it will is is all that's needed. And then, perhaps, in addition to that, you have a durable power of attorney for health care surrogate. A living will for end-of-life decisions. Those types of things, but the trust is not needed. So if you have still have questions.

What I might do is visit with an estate planning attorney, perhaps one that could be recommended by a certified kingdom advisor in your area. If you just go to moneywise you can find the CK they can refer you to a godly estate planning attorney.

Maybe you could find a referral from your local church but they could perhaps evaluate your specific situation and provide more specific recommendations but bottom line is I think you know those of the key elements of it that would govern your decision-making process to follow that I now power of attorney. We can help everything out my car.

The will and trust a lot more with my concern. Yeah, well, the average cost of a living trust revocable living trust would be somewhere between the thousand and $1500.

Typically, whereas a the cost of the will would in fact be less than that. You'd probably be looking somewhere between 500 and no probably somewhere between 250 and six or $700. So did be about half the cost.

Typically. But again, if it's something that is no ads.

A significant benefit depending on his situation. It certainly could be worth the money.

Helen we wish you and your siblings the best as you work through this.

Thank you very much for contacting us today Dalton, Illinois Barbara, what you question car and I was wondering if money out of my traditional. I walked would be a good idea okay you know when we talk about the pulling money out of an Ira.

It really is kind of the most expensive money we can get her hands on. Especially if we are under 59 1/2 to you mind if I ask your age. Barbara for okay so you don't have that penalty. So then the only consideration would be the taxes that would be due on that.

So you would add whatever you take out of your IRA to your taxable income for the year. So that's the one downside just you have to take out enough that that's not going to create a burden for you to build a satisfy that tax liability but then secondly just recognize that that money is no longer available to continue to grow for your future what you have in the Ira and what would you be looking to pull out. Now, what can okay and are you pulling and income off of this to supplement other income sources, or is this just continuing to grow okay yeah so if there's no other place to pull this money and you need a car you really thought through in your buying a good reliable used car and yeah I don't have a big problem with you pulling 10,000 out.

I would just make sure you pull enough that you can cover the added cost of the tax factoring in this being added to your taxable income for the year, but it's not a substantial amount. It's not can impact your ability to generate an income off of this money because your sounds like your living expenses are well within the other income sources you have and so, although this wouldn't be the first place I go because the reasons I mentioned, I don't see a real problem with that.

I think as long as it's a good purchase for you than this certainly could be the way to the place in retirement for you to access those funds. Barbara, thank you very much. We wish you the best with that quickly.

Chicago Edna what's on your mind today, I will pay property on one page of any balance wondering. I think that the Medicare law you need to have property like if you get sick, propagate you for your medical expenses. Wondering if I get the right or should I leave it delayed. Yeah, you know, I would probably visit with a professional on this to get a full understanding based on your situation of how it would impact your ability to access Medicare. Basically, the Medicaid asset limits for 2020 say that your primary residence is exempt, but it does have to meet some requirements it has to be a home in the same status which you are applying for Medicaid.

The equity value must be at 595,000 or less and according to federal law. Only the applicant's equity interest in any real property or personal property that is essential to their self-support is taken into account. So the rental property or other real estate investment to generate income would be outside of that and there is a look back. You know that you would be factored and I believe five years. If you were to transfer in and I would go beyond that to say it would not be ethical to simply unload a property by transferring it in the asset of somebody transferring in the name of someone else, simply for the purpose of being able to qualify for government assistance so I'm to recommend that you not make any changes.

I think the question would be, given the assets that you have. What do you qualify for and I think that's where an elder law attorney could help you navigate this perhaps or somebody in your church that could be a resource for you or you could ask for a referral from certified kingdom advisor there in Chicago.

But I don't think transferring this is can be the right move at this point, but we appreciate your call and not all the best to you and God bless you. Thanks and then we do appreciate that.

Thanks so much Rob before we run of time here maybe another quick email from this was from Angie she says should we tie off of an insurance settlement yeah you know if the to say no in typically.

Here's why an insurance settlement is making you hold for loss. That loss could be a medical expense that you incurred as a result of an accident. It could be a making you whole in the form of a loss of a damage to personal property, a car or home.

And so it's really not your increase and if we look at the principle of the tie that really is about giving 1/10 off of the increase back to the Lord and so given the nature of these funds for being a settlement as recovery or to offset a loss. I don't see that as an increase, and therefore it wouldn't question a generous person that could pretty much do whatever they want but can't out give God.

So yeah that that would be great, but the yeah just in terms of the principle of the time that I don't think I can well speaking of the out giving God. Obviously that is the case, and there's no truer statement than that, but if you wanted to make a gift to our ministry.

We would be honored and we would be blessed by that you can give quickly, easily and safely. When you visit our website which is money wise and I' just click the donate button at the top of top of the page and thank you in advance Rob, thanks so much as a great week.

Hope you and yours have a wonderful weekend. Thanks you as well.

Steve enjoyed appreciate it very much. This program moneywise I is a partnership between Moody radio and moneywise media.

My thanks to our technical crew today. Clara, Judy, Amy, and of course Jim Henry, who in a little of the situation is reconsidering coming out of retirement pursues. Perhaps yet another career in the hell. Thanks for listening.

Don't forget where you mask have a wonderful weekend and join us again

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