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COVID Coin Shortage

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
August 28, 2020 8:03 am

COVID Coin Shortage

MoneyWise / Rob West and Steve Moore

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August 28, 2020 8:03 am

You may have been surprised by the signs at your local store asking you to trade in your extra coins for cash. But the current shortage of coins in circulation is just one more example of collateral damage from the coronavirus outbreak. On the next MoneyWise Live, hosts Rob West and Steve Moore explain why this is happening and where you can “cash in.”  It’s the COVID coin shortage 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
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Thirsty coins well if you do, odds are you haven't been using them much lately due to the coronavirus sheltering swapping $10 in coins for paper money could get you a free sandwich. Just one more example of collateral damage from the corona virus outbreak.

The shortage of liens and circulation.

Today financial planner and teacher, Rob explains why this is happening.

Cash your calls at 800-525-7000 805 five 7000 times more pulling shortage asked moneywise live all right Rob you know most of the time looking for ways to get rid of the recordings they want to carry around in their pockets. Things like that. So how can there possibly be a shortage of them. That's a good question Steve. It does sound weird but understand there's probably about the same amount of coins out there. As before, the pandemic is just that they're not getting into circulation folks are using credit and debit cards is online purchasing is literally sore during the crisis. And when folks go out there more likely to use plastic or digital payment options. The upshot is that brick-and-mortar merchants are struggling to make change because fewer coins are actually in circulation. Okay, fair enough. I have a roll of quarters already to swap for a $10 bill, but where do I get my free sandwich, sir. Well, you need to start driving out what we know so far as the two Chick-fil-A locations in Huntsville, Alabama, and Lynchburg Virginia have been offering customers free food options if they'll exchange their coins for a per currency in I don't know. We love Chick-fil-A but that seems like an awfully long way to drive just for one of those sandwiches unless of course they're throwing in the. The fries right and was a general right that is a bit of a long drive but we mentioned that just illustrate the extent of the problem.

Merchants are having yet we know that in some instances there rounding up prices. In fact, to the next highest or lowest dollar amount to account for this seems like that would be pretty unpopular about well, I don't have to time anyway is Washington aware of this problem and are they doing anything about whether definitely aware of the recent congressional hearing Tennessee Congressman John Rose told Federal Reserve Chairman Jerome Powell that banks in his state were seeing the shortage of coins being deposited. He wanted to know what's being done to alleviate the problem. Any idea what the answer was I do and not much Powell said the central bank is working to increase the flow of coins, but their options are limited to C can't force people to spend your turn in coins, at least not yet.

Powell blamed state-mandated shutdowns for the problem saying they played a major role in reducing the amount of coins in circulation and while the US meant usually cranks out more coinage as needed for the economy. Well, it hasn't been able to increase production again due to covert related work disruption. In fact, the mantis issued a statement asking for help. Here's what it reads, I quote, we ask that the American public start spending their coins depositing them or exchanging them for currency at financial institutions or taking them to a coin redemption kiosk." The statement went on to say Steve that there are plenty of coins out there, but because circulation is down. Sometimes there's a shortage where needed. Okay, maybe this shows that we don't really need coins anymore. When you think about that. Well I think were still pretty far away from that, although the pandemic has certainly moved the needle toward a paperless or I should say coin with economy millions of people are becoming more comfortable using their smart phones to pay for things. As a result of the pandemic, but that doesn't help brick-and-mortar businesses like restaurants and convenience stores that still have to deal with customers who buy things with Kasha like you sleep more so now I'm the problem I do have to confess, I know where a lot of those coins are there on my dresser pilot really any I feel will we can expect this Cornish according shortage two, and because I'm not sleeping well well there and there are signs that it's already happening as more states these restrictions and closures were all hoping that the coin shortage and the coronavirus crisis itself will soon be a thing of the past. Let me just mention quickly. Steve what were talking about transacting business online is more more people are doing that and I certainly have no problem with that, there are some steps you can take to keep yourself safe and I would encourage these number one, don't ever log into a financial institution from public Wi-Fi. Make sure you use strong passwords don't repeat the same one for everything use antivirus software. And finally, never click on a link in an email you might be subject to a fishing great suggestions about things you like to speak with Rob about anything financial, here's the number 800-525-7000 call right now 800-5257 many people adopt an attitude toward marriage and finances. Then it will all work out somehow. But sadly, it often doesn't financial woes can devastate a marriage but there is a better way.

God's way, money and marriage God's way by Howard Dayton will help you discover God's approach to growing your finances and strengthening your relationship with your mate and cultivating godly joy, money, and marriage God's way is available and moneywise If you're investing for retirement or any other goal you may be wondering if it's possible to enjoy both profit and peace of mind, no matter what's happening in the market. Sound mind investing is a short video webinar on the topic of sound mind SMI has helped tens of thousands of Christians learn to be wise and faithful stewards in the area of investing profit and peace of mind matter what's happening in the market. Sound mind selection here, of course, that means you're hearing lots of ideas about how to improve our country, but will any of them really work is what Billy Graham thought existing today is going to last. So is there any good news is universal. Jesus Christ can tell you that our website find peace with that's fine.

Peace with where the Billy Graham evangelistic Association.

And if that is robbing you of 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 percent faster while honoring that debt and phone to learn how Christian credit counselors can help you visit Christian credit Christian credit counselors.or call 800-557-1985 today is your lucky day. You know you been wanting to call to call just didn't have time to work any open lines. Well guess what we have lots of open lines today and this is be a great time for you to call. Would love to chat 800-525-7000. Anything financial is fair game with Rob West 800-525-7000 and I'd like to say that every caller today gets a free Chick-fil-A sandwich.

I'd like to say that but II can't really don't have anything set up to do that. But Rob wants you will you Jim Henry is the kind he does her research and sweeps up around and maybe he can work that out for us when he can usually do just about anything, so I put past it exactly Jim get to work on that buddy. 800-525-7000 Chicago, Illinois hello Pat, how can we help all things, not a great job by the way I want you very double programs I hear a lot on your goal here I'm thinking about retiring. I can retire right now Jacob might I have an and I wondered that fairly well all I have a choice between lump-sum and an annuity and everyone I know to be saying okay, mind, and we talk about that a lot. Her house is great for break-ins are pretty much taking care of the way I have a military pension that will start as I retire. My current job. I am thinking like to get annuity sorter free money for me and I can leave my 401(k) in the market that between between the annuity. My military and some other you know that I have lived on that and maybe only take one or two per year of my 401(k) or maybe not for a while, but all I know take that long, a lot of money, but they seem like they all have guy guy guy guy. I don't have a guy reading and stop guy.

Let me try to weigh in on this pad and it's a great question and unfortunately the best answer is it depends on your stick to vacation but let me help you process through this. You know there's something to be said about having the lump-sum principles so you can take it access the money if you needed for a major unexpected expense but with that. You obviously have to bear the responsibility of the management and so other folks will say I don't want to assume the responsibility associated with taking this out lump-sum putting it to work and turning it into an income stream that would be reasonable and equivalents or exceed what I would be receiving in terms of a guaranteed monthly payout for the rest of my life through the pension and so other folks will say I would rather have the peace of mind knowing that I don't have to think about the stock market. I don't have to take any responsibility with it. I just get that mailbox money if you will wear every month I go out there I get the check.

I know that that plus Social Security is going to cover my monthly bills so at a minimum, those are paid and then I have other assets, namely the 401(k) and other savings that if I needed to tap into that it's there. So I think that's really the decision point and what factors into that is your other savings and your spending plan. So what is it going to take to fund your lifestyle in retirement and what income sources do you have that you can count on you got Social Security. If you were to add this pension to it with that equal everything you need and would that give you some comfort to know that that's at a minimum, covered, or are you saying no.

I think I could very easily fund my lifestyle with what I have. I'd rather have the money have access to would be able to tap into it. If I had a major unexpected expense. So that's kind of the philosophical and financial side that you need to process through the other pieces just the equivalent rate of return you would get on the lump-sum so you want to compare the monthly payout to the internal rate of return, you'd have to achieve on that lump-sum to achieve the same monthly amount and that will tell you whether they are giving you a good amount in the form of a lump sum because you could translate that into a similar monthly payment without taking unnecessary risk and I would use as a starting point, the percentage of that being 4%. I'm throwing a lot at you there. Tell me if you follow what I'm saying you I you know map that out and I get my my thing between my my annuity. My military pension and then other investments I have savings I think I can pretty much live right and really live on that and not the 401(k) number one progressive in the market with the 401(k) so when I die, my life gets the proportionate benefit. Well yeah you know when you both die then no one get anything done. I have a significant change that. It all should build and will hopefully in 10, 20, 30 years and how much money you want to leave you want to be. Now I want to leave money to the church and things like that which I know now what I mean, how much do not understand that. I think the bikers are being driven by one person that is difficult because everybody I know that lump-sum drives that I don't think it's as cut and dry's notepad and I it sounds like to me.

Just as in hearing you process through it. You're leaning toward the annuity and I don't think there's anything wrong with that because to your point if you can add the annuity together with the military retirement together with Social Security and you know that your lifestyle is covered for you and your wife for the rest of your life and theoretically you don't have to touch the 401(k) so that just continues to grow, which is something that's their forgiving now and in the future and to pass on the heirs.

That's great. Perhaps one of the thing to consider is to build into that spending plan. If you can't, a long-term care insurance policy because that's probably your greatest risk to erode your assets during this season of life. If you were to have to go into skilled care, nursing home, assisted living in home care something like that, but I wouldn't hesitate to go that direction. It sounds like that's going to be greater peace of mind at Pat.

Great question and comment today and you made me chuckle, buddy. Everyone's got a guy Rob West is our money guy. You can reach him right now by calling 800-525-7000 Paris, Florida hello Paul what's on your mind on my years old and in February okay and one 105 take my lumps from conventional lot already will have to pay the taxes before output again or take it out. Paul, is this a 401(k), what you have no retirement okay yes it was said that the money was put in there on attack on a pretax basis, meaning the salary deferral. You didn't pay tax on it. It's been growing tax-deferred. You should be able just to roll that over to an IRA.

Once you separate from employment and when you do that that will be a nontaxable event you want to take a check. You can want to open that IRA wherever you're going to have that custody if you will. And when you do that you want to get the surrender paperwork from the retirement plan that you have it work you put down the information for that new IRA and they will do a rollover which simply means the check will be mailed directly to the custodian of your new traditional IRA. The amount will be deposited as cash in that it can be invested but that is not a taxable event. It will not be taxable to you until you start withdrawing now and I will need to get it out like it would take it back so I write whatever yes sir.

So as you take the withdraws from the IRA becomes taxable to you as income and you just add that to your federal and state tax return for the year. While the newest tax estate estate tax in Florida suggest federal Paul, we have to hit a break here, but if you don't mind me asking your you work now until age 83.

How if you managed to work so long and how come tell me you're one of those tough full birds. I keep hearing about what Florida granted God bless you Paul, thank you very much for calling and we wish you love the very best as you enter your retirement. I don't think anybody with that at age 83 you're listening to moneywise live with Rob West. I'm more back with more in your calls.


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Wondering if you had mentioned there's more Internet purchases being made now will wondering if phone organizations like hell if they add another layer of security or or not really, you know these days. Chris, the large sites where your transacting business, especially those like PayPal and then mow another seminary. They rely on security. Apart from having a secure transaction.

They don't have a business and so they are doing absolutely everything they can to put all kinds of security features and redundancies in place to protect your information to make sure the transactions are secure. PayPal would be one of the biggest and certainly not doing everything they can is a reputable company to provide that solid security but with that said, despite every best effort on the part of any number of major corporations and coding of the US government anything can be hacked. In theory, so you know you still have to follow the proper safeguards not accessing accounts or websites that you do business with financially or you transact business through public Wi-Fi actually use that are pretty strong.

The password I use a password generator.

I know I do that with myself so every login has a different password and the character of the string is at least 12 to 15 characters in it and then change those regularly doing those kinds of things. In addition to just monitoring all of your accounts. Credit cards or even a PayPal account are then mow for unusual activity is really a best practice to try to safeguard you against a hack of some kind.

Now that's not to prevent somebody from getting your information at which point you might need to take other measures and there's a lot of great information out there at the FCC's website about what to do if you've been the victim of identity theft. But I think there's nothing wrong with PayPal, in and of itself, and I would just say that that the organization along with so many these others are just doing everything they can. And with more and more business being done online. I think it's just reality of the kind of the way were headed with our economy so I don't really have any anything negative to say in general about PayPal. Chris thanks, great question name you can't beat you just can't be too cautious these days. We appreciate that.

Thank you, Andalucia, Illinois, Teresa, what's on your mind and that we had our final goodbyes are over yesterday and about our easy when you meet and mount. You want report talking with the lady at sea and began to pick her boy and make my bank he did get to come one time likely to meet and begin about the cop that month and year out right start biblically. If that's okay for again on the part patently not that I'm not certain what would be to populated shirts. Well first of all I love that your thinking ahead to resend really the planning for how you can continue to do your giving and doing in a way that's wise, meaning you pay a little tax as possible so that the ministry of charity can receive is much as possible. There's no problem in doing that and when you have to start taking that RMD you see the qualified term distribution is a great way to do it and I don't think there's any issue with doing that once a year.

In fact, the ministry love it if you do it because they get the money sooner and I think the Lord sees your heart and I think that's right more often as you stay with us more moneywise live.

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 and eventide design investments for performance and a better world so you can invest with the confidence to reach your financial goals while remaining true to your Christian values and commitments. We call this investing makes the world rejoice more is available. 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 hi my name is Aaron production assistant at Moody radio Moody radio first week is found in Proverbs 457 with them, get insight, do not forget do not turn away from the words of my mouth. Do not forsake her she will keep you love her. She will guard the beginning of wisdom, get wisdom in whatever you get. Get insight.

Proverbs 4527 the Moody radio first of the week is call one 800. Would you like your life to be infused with joy.

Would you like to interject an journal dimension into even the most ordinary day on the radio says you can when you discover the treasure principle and a concise powerpack style is newly revised and updated book offers a six step plan to finding the pleasure and eternal parts of the treasure principle what you discover. Life will never look the same treasure principle is available when you click the store, but moneywise you go from hurting more has risen to at least 11 now on hundreds of thousands of people across Louisiana still without water and power official said that those services could be knocked out for weeks or longer on parts of the Gold Coast or made landfall is one of the most powerful hurricanes to ever hit the US the NBA playoffs resume Saturday after the league of many national basketball players Association detail the commitments that make players comfortable continuing the postseason in a joint statement. The side said they will immediately establish a social justice coalition players, coaches and owners and resident from traveling to Manchester, New Hampshire this evening for a post RMC rally Wall Street stocks punishing higher the Dell gain 161 points. The NASDAQ up 70 the S&P tax on 23 this is SR and use the wise lines were in timeless wisdom God's wisdom meets today's financial choices and decisions can help you with anything along those lines, or maybe even car repair. I guess a call 800-525-7000 800-525-7000 you know what feels good in your hand.

Rob is a real high quality rachet or open end wrench and when you're working in your car would you would you concur with you. Yeah, for sure. Even though I'm I would not be one known to work on my own car is beneath me. I just would know what to do. Well I see that you're not the car guy was an earlier call. He was think everyone is a guy and it helps if you car got the guy that's okay think the less you know you don't like to get your little pink finger Moline, Illinois hey Diane, thanks for holding what's in your mind for lying] credit renting or anything yeah it's a good question, Diane. I'm not a big sin of the balance transfer. Now I realize it can make some sense if you're on a high interest and you're going to no interest in you got 18 months to do it or whatever the offer is in you, you have a plan to pay it down.

During that time are hopefully paid off the challenges so often were just kinda masking the underlying issue that led to the debt in the first place, which typically is spending without a spending plan or overspending or whatever it might be another may have been unusual circumstances that led to the debt in the first place, but often it's just a lifestyle creep if you will, where we we spin beyond what we have and therefore we take the pressure off with the and the balance transfer and then perhaps the card we left we start charging again the Nelson we have two balances so because of that I would rather see you do the credit counseling which that doesn't factor in your credit score per se. The account would be close. The interest rate would be lower and you have one fixed monthly payment until it's paid off, generally paid off 80% faster when you use credit counseling, but if you said Robin. I've corrected the problem.

I'm disciplined. I'm living on a budget. I've done that for six months I have margin. I'm just trying to while I pay it off. Save the interest. Certainly you could take advantage of that. I wouldn't try to do that more than once, you may see a slight dip in your credit score just because when you open that new account that's more credit that's available to you and that balance transfer is factored and it's not to be a major hit. So it's not something that would prevent me. I think the bigger question is, is this the right decision to you for you and is it going to lead you to a place where you have a stronger financial foundation under you, where you can get out of debt once and for all and and live on a balanced budget. So I think those are the considerations Diane at this point Diane we wish you the best with that great question. Thank you very much Fort Myers next hi Sam, what's on your mind all you and I and read one year ago shall and 30. I have bird on the way and I have not been at all waiver and medical education outrageous right now, though I have met no principle of you know how to put in what whatever your employer will match your day by that you should be trying to pay off your dad. You start really learned that I'm just getting around it.

I like to be without any anything really to my name in that regard.

Get your opinion on how to do great question Sam and I certainly can appreciate the fact you feel like this precious time is slipping by, were these compounding years are not going to be as powerful if you delay the investments and yet I know you want to get that student loan burden taking care of once and for all, let me ask you what is the balance on that student loan right now right around 500 yeah and I know that's some people may be listening right now. Thing is, how is that even possible. And yet it absolutely is. I read an article in the Journal the other day about some $2 million in student loans and they didn't ever have a plan to pay it off. They just factored in and knew it would be there the rest of their lives.

Let me ask you based on the current repayment schedule. Do you know how long it will take you to pay it off long program not known whether or not honored.

So it could be be 10 years from now or they're going to be 30 years now. Okay, well, generally what I would samaras this is that it's obvious he hi balance. Hopefully you can have a high income to go along with it. Generally what I would say is as long as you can put a payment schedule in place that will allow you to pay it off in 10 years I would be comfortable with you going ahead and starting your retirement savings. Perhaps you don't max it out. Generally, we'd say you want to get up to 15% going into retirement income. I'd say perhaps you go up only the 10% so you can still get a good bit, even above the minimum payment going to the student loans because we do want to eventually pay that off, but I would try to set a timeframe to say okay here's what it would take for me to do this in 10 years and then I'm in a take the difference and I'm in a go ahead and really start systematically investing in my retirement and maybe you say because of the balance it's 15 years and I'm comfortable with that. But let's not just make it open ended. Let's have a plan that's defined in advance is try to keep your lifestyle at a minimum while your income is growing so you can put more and more toward debt reduction and investments, but as long as you had that 10 for your planner that 15 year plan. I'd be comfortable with you starting to accelerate those retirement contributions just because of the power of compounding and and I can certainly appreciate what you'd want to take advantage of that. Now does that make sense and yet really weird time right now. They have the now 10 year loan forgiveness program but there is some question of all. Question about whether directly ever be honored so I get better by taking out like I think it makes that all right get to listen all the best to you, but God bless you and thanks for calling today.

Thanks so much money I let's try to squeeze in one more Murfreesboro, Tennessee. Nicole, what you have for us, how you are cool I will tell you though I know several years back. Then Mo added multifactor authentication, you have to activate it but basically anytime you sign in with an unrecognized device. It requires a six digit code and they'll send that to you by email, which most people do now. And so it could be that you just need to enable the multifactor authentication, but that's a great reminder that that's really a security feature. Make sure you're using multifactor authentication on all of your financial online accounts and then Mo PayPal appreciated money and life run on the same track.

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Hi. I'm very glad I'm here to help you understand the urgency and how much fun it is to share your faith in the eyes of the layman for those you listening to me for a while or the boy say okay I get it. I need to share my faith. I have no idea how to do it. Well guess what, there's no training required.

You don't need anyone to teach you just have to know you're my disciple by your love by your ability to follow a script or memorize Scripture be great talking to strangers is not about being gifted or talented or extroverted, well-dressed, it's about being huge about the Rios about loving people for real said the pill don't care what you say till they know you care about them when you simply care enough to allow God to love people through you a great picture.

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There was no smell and it turned out think you know flowers can look so real, but have no life, just like so many folks who look like they really belong to Jesus Christ like there Jesus describe people who would come before him on judgment day with lots of Christian credentials. He says that he will tell them they never knew that. That's why the Bible says we examine yourself to see whether you are in the faith.

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Find it all in master your money by Ron blue available when you click the store button moneywise live door with us today moneywise live less times more in my sincere apologies.

The Chick-fil-A thing has come up and you and Dan just just contacted us and he said is it okay to take home some little extra things of sausage Chick-fil-A. I don't know who would think to do that.

Of course there's the Polynesian and then there's the honey mustard and several others.

What you think Rob taking home an extra sauce. I mean, you have now. Just today I haven't had lunch today okay now had two extra cups of coffee and somehow there's been this thing that I wouldn't order extra sauce with the intent of taking it home, but if it in the bag and I sprout your own doing, then absolutely it's vital like that. See intent is 9/10 of the law are something like that so they do have great sentences.

Okay Dylan in Florida.

Thanks so much for calling us to him, how can we help you where my mortgage all I will not be able to talk to all my money and paying my mortgage approach.

Dylan would just be to delay this process and continue saving what margin do you have on a monthly basis.

How much could you continue to add to savings each month. Moving forward okay see a 501 of the savings. Tell me what's the balance on the mortgage okay and how much have you saved up right at 75, a little more okay okay very good. I would agree with that and I don't like you. Did you take out the home equity loan just to serve as your emergency fund. What's in terms of your monthly expenses. What you think. Your total monthly expenses are given 30 day period.

2500 okay 2500 okay so you would when you get down to 5000.

You would already have two months worth of expenses in their let's say you're wrong and it's 3000 you almost have two months expenses because you have 5000 left over.

I'd love for you to get up to probably at least four months expenses because here's the thing. As soon as you pay it off. You can take the full amount of the mortgage and you can add that to the 500 a month to rebuild your emergency savings so as long as you had 34 headed toward five months or six months expenses in emergency savings that I think you're in good shape. Go ahead and pay it off and not look back. So perhaps what you want to do is just delay this maybe till the end of the year and I continue to save, build that emergency fund up and once you get to at least three months expenses, preferably for the Glenn pay it off, but then don't increase your lifestyle. At that point take that full mortgage payment and go ahead and bring it back into your savings to replenish that into you get to the desired amount that you have and by the way what you pay the mortgage off. Don't forget to continue to escrow yourself for taxes and insurance so that doesn't catch off guard next year.

All right Dylan thanks for going, but looks like really go to Daniel next in Ohio and Daniel year on moneywise like a red I call sure you have the option of being able to pick up $200,000 out of our 401(k) investments and coursework spectacular bonnet, but I am a business owner in my lower this year. Profit compared to previous years.

So I would have a lot more this year. I also took over my 401(k) and myself because I got pretty upset with my investor. When covert head. I point take my money out the new market was going to drop you didn't and I lost 25% because I want to jump out jump back in after COBIT will buy you make the extra money so anyway I'm considering should I take this provision and take money out of my 401(k) because I don't usually pretty well with plan like I bought the property back in 2000 and now it's worth 300%. Why bother for and I'm considering buying some land of the lake, which is not look at the land around the lake and also have grown maybe 4 to 500% good optional would you recommend I do something different.

You said he didn't sell out, so has the did the money stay invested the entire time and and has that 25% drop recovered exactly what he is invested in, but I do think it did recover back and the others no little profits on top of that investment that I made it up going 30% right off the bat yeah now you 30, 35% and have you separated from the company. Daniel, are you still working for the same company. I am the owner of the company and control my own 401(k) I see okay very good and what I was saying is if you if you ever get to the place where you sell the company or something like that you could roll this over to what's called a self-directed IRA and through that you can actually invested in real estate or land and not have the taxable event to that point. But as long as I still yet as long as you still have this intact and you can't roll it to an IRA that you don't have that option with the 401(k) you know I'm hesitant nonprofit account or non-prototype 401(k) account okay what you know if I could possibly you better not you probably not. You have to get it to a self-directed IRA and you probably have trouble doing that. You may want to look into that because I would be more comfortable with that. I think the key is, though you hade taken paying all the tax right now I'd rather this money continue to grow and perhaps you need to just look for another investment professional that you feel like is more aligned with what you're trying to accomplish. Now, obviously you've demonstrated significant success in land. Most people aren't able to do what you're talking about. It tends to be very liquid. There are a number of factors, there is there to be the development that you're expecting that you create the demand, you know. Are there utilities in there. There's just a number of issues, not to mention the fact that you can't generate income while you're waiting with raw land so you just are counting on the appreciation and so because of that, historically, people often do better with a high quality stock and bond portfolio with her taking less risk and they have a more reliable return at least historically speaking, perhaps maybe you split the difference and say minute in a leave half of it there and take half of it out. I just for me with the risk and the return that you would expect nothing based on what you've done is you've always done quite well, but typically I would say be better off leaving it right where it is and find the right investment strategy for you. Perhaps find the right investment professional to manage this for you as opposed to pulling out and taking your chances with raw land just to historically does not work in your favor as well as what you might expect in the market. Daniel good question thank you very much hope that works for you.

I let's try to squeeze in Vivian calling from Chicago and what your question. Thank you, thinking, and how to corral our collective interests. Yeah why so much in savings for the end. Is there a specific thing you're saving for resistors access to future yeah, what about getting this money to work and I realize you need an emergency fund, but 160,000. This is going to be quite a bit of money to have just sitting and earning interest even though there are places perhaps you could have a little bit more than you are now. We talk about that, but what about getting this into a retirement account, getting it invested something like that $60 into our 401(k) from my current employer and I have about 74,008 okay all right and would you expect to use any portion of this 160 in the next 10 years.

Do you have plans for that are slightly larger home most likely okay and so that would be you expect in less than 10 years okay alright so then you probably do want to keep it outside of the stock market. If you plan to use this to buy a home. What save for cash or something like that at that point, you know, the challenge is rates are so low right now they be and there's not anything you're to be excited about probably earn about three quarters of a point at best.

Right now I would look at a couple of website you could go to they're paying .8%, nearly 1%, 20% on their online savings account it will be FDI see insured and that's what you're looking for. You can link it to your checking account. You can also look at Ally Bank and they offer a high yield savings as well and I think those they're paying about .8 right now as well.

That's about the best you're going to do obviously is rates move up the interest rates associated with high yield savings will move up as well. Unfortunately doesn't make a whole lot of sense to get a CD right now could you not to get much more than that, and you're going to have to lock up your money so I and I think you're certainly on the right track and congratulations for being such a diligent saver. Vivian, thank you very nice Blessing Robert pretty much out of time here any any any thoughts in regard to worshiping these days as many churches are having worship services. Still all we can worship the living God from pretty much anywhere always or can our family does it for my living room every week. I would just say safe, faithful to your church stay plugged in. Keep giving rise live is a partnership between Moody radio and moneywise media thanks

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