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Due Diligence for Stocks

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

Due Diligence for Stocks

MoneyWise / Rob West and Steve Moore

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September 8, 2020 8:03 am

The true purpose of every Christian is to glorify God in all we do. That poses a challenge when we invest. But what if there was a way to screen the companies we invest in? On the next MoneyWise Live, hosts Rob West and Steve Moore talk with financial expert, Robert Netzly, about a tool that allows us to peek inside the stocks in our portfolios. It’s due diligence for stocks on the next MoneyWise Live at 4pm Eastern/3pm Central on Moody Radio.

Rob West and Steve Moore

The purpose of every Christian is to glorify God in all we do that poses challenges when we invest only there was a way to check up on the company's reinvest. And like a free screening you are not because such a fool exists and it allows you inside the stocks that make up your portfolio today host Rob West speaks with financial expert Robert Nestlé about spy your is your calls at 800-525-7000 800-525-7000 times more due diligence for stocks right here moneywise.

Robert friend Robert E old inspire investing in here today to reveal a service that Christian investors have been waiting for for a very long time. But that's right Steve, as some may not realize that you can do this. Others may have been seeking this out and trying to piece it together with other tools and I think they're going to be excited about this free online tool that helps you tell whether a particular company aligns with your values. Robert, great to have you back with us again were talking about your free screening tool that inspire that allows you to separate quote" the good guy is from the bad and the idea is that all the data we need is out there, but it's scattered all over the place and you've brought it together in this one tool habit you were trying to do a long way. After all year long term vision we have an investor that they find information for their account and company that they feel identical values and down piece it together all the really disparate data floating around the universe and tied it together in a nice easy use simple search's big idea here, and I'm excited to say this particular area of faith-based investing is growing rapidly, but the big ideas that based on your convictions.

You may want to engage in a particular company is a shareholder in Robert. I know you will have a lot of experience in that area really making your voice heard and perhaps having an impact on the company, the leadership of the company by virtue of being an owner and voting in proxies and showing up in the shareholder meetings and calling investor relations, or you may want to embrace a particular company because of what they do they have a kingdom aspect to it.

Or maybe they provide some sort of social good or contribute to human flourishing. But this particular area is really focusing on those companies. You may, based on your convictions want to avoid.

But how do you know who to avoid. If you don't understand what's going on at that particular company in terms of their direct business or perhaps how they use their corporate profits. I know you have two tiers of inspire inside the paid version that has some advanced features, but there's really a lot you can learn about various companies with the free version, and it's great that you made it free. So tell us why it is you and the team decided to do that well when serving the community for a number of years and one of the big gap is related education. People that don't know what they don't know and what we meet personally about 10 years ago had to name the Lord up in my in his money into your company's stock. Yes, they were directly opposed to the things that are near and dear to Gotthard like abortion photography you tracking all the issues and totally oblivious, and it's it completely obvious to us that really Christians just need a way to be educated about their portfolio so they can realize what's good and what's bad. What in the portfolio and have a tool to then go and make you don't like dirt to be taken to glorify God in all they do.

This is really a game changer.

Putting this information in the hands of investors so they can really be empowered to learn to understand what's going on at a particular company which allows them to make a buy or sell decision for a particular company or perhaps even decide how they may want to engage with that company and make their voice known related to their own values and see if they can really help to shape and guide particular companies using inspire while working to get into the details, just around the quarter were one of the scores mean, what is that data actually come from that a whole lot more than just a friend. Robert Nestlé with us today will inspire investing inspire all of us to just more. Most couples can't talk about most money books expected. How can you create a budget or pay down debt. If you can even talk about spending or saving with if you get tense about your just playing avoid many conversations altogether thriving in love and money like Chante and Jeff felt hot news for you and it's yours free when you donate $25 or more to moneywise thriving in love and money for a better relationship not just a better project when it comes to investing guidance you want advice, grounded in God's word. That's the approach offered by sound mind investing. SMI has helped tens of thousands of Christians acquire investing wisdom and confidence. Regardless of your investing experience more how much you have to invest, you can learn to be a wise and faithful steward in the area of investing a short video webinar on profit and peace of mind is available now sound mind investing a girl named Rhoda Mike Sears boozer has a collection of strange names.

Everyone says is a real name came across on names like Rock Island Cherry and billy club. Perhaps the downside of modern technology and electronic communication is a loss of personal identity in some places, they are better known by a number is also more common in a world of over 7 billion people on the loan. So he gave his only son, that whoever believes in him should not perish but have no wisely created.

If you would like to know how to begin a personal relationship with Jesus Christ, please, 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 80% faster while honoring that that info to learn how Christian credit counselors can help you visit Christian credit Christian credit counselors.or call 800-557-1985. So when you invest your money on Wall Street, where is your money to use it for well necessarily an easy question.

But Robert Nestlé is with us today to help us work through all that and to explain the new tool they had. That makes it a whole lot easier to find this information out about excited to put this in the hands of our listeners. Those who want to understand at this level what's going on in these companies and whether or not it aligns appropriately with their values.

Robert pulled the layers of the onion back for his tell us how inspire insight works really simple design for every industry out there to be able use quickly and you type in both the top so maybe if your mutual fund or ETF or stock that you own or maybe you're considering owning or been recommended to you by somebody or you and get enter and go to the detail page and will show you all the good the bad and the ugly of what that company mutual fund is involved in, faith-based ESG environmental social governance perspective and all the data you get the drill down in two dozen categories that may be of interest to you and I'm really that granular data about what a company is involved in. Again, good and bad, that you may want to support or void in your very good you apply a score to each of these companies. So tell us a bit about that rating system and how that scores derived their impact score is our methodology of how we analyze and rank the company and how closely aligned they are with difficult ESG scoring methodology and diet rate the company from -100 to positive 100.

Anything above zero, we would consider investable responsible thing perspective. In other words, it avoid exposure to issues like abortion and human trafficking and other issue that would be problematic for Christians and then the higher the score goes close to hundred is where you see a company that is really a blessing to their customers, their communities, their workforce the world in general across again dozen environmental, social and corporate governance categories so that inspire you that it really look to build portfolios at the highest scoring companies that company quote on quote really looking for the best, most inspiring positive for one company could and think on inspire Although scores company lookup readily available at the click of the mouse and allowed you to really easily gauge whether this company may be something that you look at your assistance. Robert if you happen to know the S&P 500, how many would be positive in terms of having a score greater than zero. Yet more than half so I want to sleep but there's about 57% or so.

The key 500 that have positive inspire impact scores when you look at a broader universe, not large companies in America. Small and midsize companies close to 85, 90% of all companies have positive impact scores and Juliet is really large companies that have the fingers, and all sorts of different pies, political lobbying, and philanthropy money to Planned Parenthood and think of that nature have them big issues… Lobby to get right down to Grady and see which companies are doing what and where does all that data come from. I imagine it's a massive amount of data that's being said in to pull the scores and ratings together mindbending for me, but I returned to Valley view technology artificial intelligence driven technology that scrapes the Internet daily millions upon millions of data points are filtered through this database every day and able to read the context of new stories or corporate leases or government papers or whatever else may be out there and locate categories among all that data and very simply categorize it into the database and applied that faith-based viewpoint on the issues and distill it down into a score and provide the details of all the individual issues. Such a date that company donated this much money to Planned Parenthood. For instance, or this company manufactures XYZ abortion drugs analog read that right down the screen again was imagine doing it without the help of computers these days something else. ESG understand has become all the rage and values based investing.

What is that exactly 1 of the world environmental, social and governance investing and very broad categories where you're paying attention to companies footprint of impact not just the financial impact but Howard during the environment. How are they interacting with social issues such as workforce or supply chain can think of that nature.

Corporate governance, fitting their executives versus their employees are involved in bribery issues and things that you find another countries made even our own country, at times, and you look at the whole impact the company and you can interpret the data points. In a lot of ways you would inspire allows you to have that faith-based worldview applied into the ESG framework and its general unique and compelling way and I know you actually apply categories are you look at various categories. In evaluating a particular company.

So talk to us about these categories, which would include ESG, but perhaps go beyond sure so you know a good example is the abortion issue so that is a social category. Secular and great faith perspective in a women's health and broad category would be something that is considered a secular standpoint, I may have seen my socially responsible funds out there for a long time or maybe even better than them yourself because we find a lot of Christians that showed most of their sparkle fund because it trying to be responsible thing to try to be when you peel back the cover you type in that ticker symbol on inspire you find it. Well the social issues and responsibly she managers are managing for your opposite what the Bible teach other describing positive points to companies that support abortion or manufactured working drugs or donate to Planned Parenthood and think of that nature, whereas lobby through the faith-based plans for biblical perspective, those negative issues and is really important to know what's under the hood, so to speak. We can't just accept the label that all three put on a fund to work for. We need to be diligent and really look underneath and see what's going on very good wells a lot to learn from inspire and as you said Robert all the data is there since you don't just have to accept your score.

You can ask the person through it and see what aligns with your value say thanks for stopping by today.

Great work on this new tool threatening. You can check out their new absolutely free stock screening tool that inspire insight.your calls next. 805 five 7000. This is why in this month's money wise magazine were giving your family since closer together and close financial freedom, practical advice to shrink the financial patient in your marriage, budget friendly family activities and a lot more money wise magazine subscriptions waiting for you what you want to work/site/To contact name the Lord is proclaiming the grace of God's anger and abounding in lab maintaining lot and forgetting wickedness, rebellion and stand he does not leave the guilty and when we 3333. Patient is described in 34 when he proclaims his name. He proclaims he proclaims maintaining lot.

We more leasing.listening. Many people are experiencing financial downsizing that in jobs saving more than half of all the courses are the result of financial pressures at home, but there's more money counts biblical financial expert Howard shows that the Bible is a veritable managing your finances will discover the profound relationship God your money count is available when you click the start button moneywise live so much for joining us as hostess Rob Weston robs your financial calls today any financial top a topic anything of interest to you dial right now 800-525-7000. Whether it's saving giving getting out of that managing what you have. Investing what you have.

Let's talk about it.

800-525-7000 Rob. Let's begin by going up to Grand Rapids, Michigan, that is. And let's say hi to Nathan Nathan were so glad you called today your own moneywise live his or what I'd like to do mutual funds, making really good money on it like to take the exit from both like on her back to 25 prisoners will I'd like to have a way of letting you several different ministry ministry so I'm going try yeah yeah like you certainly appreciate that Nathan congratulations for just the way you handle your finances in such a way that you now have a surplus and I love the idea that you want to take that and not necessarily increase your lifestyle but put that to work for kingdom causes clearly when we look at the Scriptures we see there are some things that are on the heart of God as it relates to how we should handle his money and are giving clearly the ministry of God's word but also the ministry of God's justice and you know I think we see so many of these areas of need, including the minister of God's mercy and your touching on so many of those things that are on your heart. That's wonderful me asking Nathan. Are you looking to just take the income or the proceeds and make direct gifts or have you considered actually transferring some of these securities in such a way that you could avoid capital gains if these are in taxable accounts. Okay no problem asking questions.

Sorry, something couple like support missionary to come to church run across family heart. I can purchase a carpal control over. I do yeah absolutely. Well, one of my favorite giving tools is something called a donor advised fund and I would encourage you look at that now keep in mind whenever you're making a gift out of a donor advised fund would have to go to a charity or a not-for-profit so would include all of your church that would include 501(c)(3) ministries. It would though preclude you from making a direct gift to an individual would have to go to a not-for-profit organization with the benefit of the donor advised fund Nathan for at least that portion that you want to give directly to ministries is that you can mentally transfer and cash in your donor advised fund but you can also transfer in any kind of asset namely appreciated stock or mutual fund shares and when there then liquidated because you want to grant out a gift and you would be the one directing that they would be sold and there would not be taxed to see you get the full benefit of the contribution at the value of the security that you're moving into your fund and it would be the full amount once it's liquidated, would then be available to be gifted and our friends of the National Christian foundation can help you with that in CF and by the way, they have a local office there in Grand Rapids and could be a great resource to you, but for that portion that you want to actually make be able to make a direct gift to an individual, you would have to do that yourself and what I would do is perhaps inside that account. If you have income that's coming off of that that you don't need. You could perhaps move that over to a separate giving account that you designated yourself just so you have that money readily available to make those gifts. Was there anything else so specific you are looking to do that. I have an address national what National Christian foundation in CF for short and they serve about 25,000 Christian families across the country and around the world.

They work nationally, but also have 30 local offices, one of which is in your hometown, but National Christian foundation basically is just there to help Christians be wise givers and one of the great tools that they will talk to you about is something called a giving fund or a donor advised fund and I think about like a charitable checking account if you will wear. As you remove stock or cash into the account you get the deduction for the contribution at that time and then at your click of a mouse or phone call.

You can grant the money out at your leisure. As the Lord leads, the benefit is one of them is that you will just get that one contribution statement a year as opposed to individual contribution statements from all the ministries because you get the deduction as it goes into the donor advised fund, not as it leaves and is granted out at your direction. If you follow me, Nathan, does that help okay yeah given CF a call again the website in CF thanks very much a Plainfield Indiana definitely have just a little bit of time here. What's your question for Rob today that anywhere. This, maybe we lost Devon will come back and try to get him later on in the meantime, I have an email Rob that's his dear Rob and Steve, I'm of retirement age. My husband just left me were in the final stages of divorce. I've never handled the finances before it feels foreign to me. What should I do first. Well first of all to this writer sent this email just want you know my heart goes out to you. Certainly asked the moneywise community praying for you in a challenging season. I would say number one put together a list of all assets and liabilities, financial accounts get it all in one place. Then put a spending plan together in our coaches can help moneywise and set a meeting with a certified kingdom advisor.

You can find that moneywise live.if you have an email from Rob is questions that 800-525-7000.

How should we as Christians think about testing.

What if we could invest our money in a way that aligns with what we believe that Eventide we believe it is supposed to love God and love our neighbor in the very practice of investing we design investments for performance and better world so you can invest for the future with a sense of wholeness and purpose.

We call this investing that makes the world rejoice. More information is Christian healthcare ministries enables believers to show love for one another by sharing each other's health costs through CHN's voluntary health cost-sharing programs members uplift each other spiritually and financially. CHN was an eligible option under the affordable care act and the Better Business Bureau accredited charity interested. Learn more by calling 800-791-6225 or online at CH ministries.more time my name is Ryan communications major radio verse is found in second Chronicles 714 if my people who are called by my name will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven and I will forgive their sin and heal them that a second Chronicles 714, the Moody radio verse of the okay raisins one cracker single almond.

We sometimes Christians themselves are actually saying one thing and something. All were many people adopt an attitude toward marriage and finances that it'll 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 our date will help you discover God's approach in your finances strengthening your relationship with your mate and cultivating godly joy, money, and marriage God's way is available moneywise Pres. Robbins announced an expansion of a ban on offshore drilling in Florida speaking Jupiter Inlet lighthouse Mr. drum says he is extending and expanding about our new offshore drilling sites off the Florida coast as well as Georgia and South Carolina. The existing moratorium covers the Gulf of Mexico and the president says the new one will also cover the Atlantic coast significant political concern and coastal states like Florida is really in the United Arab Emirates will sign their historic deal mobilizing relations at a White House ceremony on September 15.

Helicopters continue to rescue people from California wildfires estate already setting a record with 2 million acres burned big tech stocks slumped again on Wall Street that I was off 632 points today NASDAQ down 465. This is SRN use this all men will know that you are my disciples, if you have love for one another. That's John 1335 and one that is certainly worth committing to memory your listening to moneywise live. Let's continue on by going to Leonard town, Maryland hey Charles, what's on your mind's or yes you have been debating whether not that my 401(k) to pay off my mortgage.

I got $150,000 mortgage about 3.75% in the house is probably the market value right around 400,000 815,000 and 401(k).

I just watched it vanished 50,000 in March and grow back and wonder if I should use it before I was yeah well Charles, here's my thought on that number one yeah we go through the seasons where the market will take a downturn. Obviously, this year was unusual in the sense that we went from bull markets to bear market, at least technically, down 20% in the shortest period of time ever was.

Not systemic in nature, meaning there were inherent problems in the financial system of the economy.

It was really event driven. It was because of the covert, 19 pandemic but you see what's happening would come roaring back because the Connolly was strong going into the consumer was strong in the federal reserve has basically said will put unlimited resources behind this economy to keep it functioning. As we weather this health driven event and so these types of things. Although this particular one we did know what it was good to look like. But we do expect the market to Evan flow and keep in mind what we experienced earlier this year, albeit brief was following a 12 year bull market that was probably the greatest bull market we've ever seen. So I think the key is with investing is you want to stay long term one invest according to our goals, we want to have a stated objective right we don't just invest for investing sake because we we we might be giving up opportunities to do some more giving being generous and we don't Mesilla just want to build bigger barns at the same time as long as we have God-given goals, and we know where were headed. We know why were saving and for what purposes and were giving along the way that I think there's nothing wrong with us. Putting aside some of the future.

So when you can't work for God redirects you to your next assignment. In a later season of life. You have the resources to support yourself. So the question is do you pull money out at any point for specific reasons.

I don't think this choppiness in the market is necessarily a reason to pull it out because again we need to expect these kinds of gyrations. Keep in mind the typical bear market last between 18 months and three years. This just happened to be one that was very brief and so again as long as we have that 10 year time horizon, we should expect it and then we know whether it can come out on the other side and move to higher territory at least historically speaking, that's the way it's always been.

Now what about paying off debt, which clearly is one of the things we want to be doing other clear warnings in Scripture about having dad although I don't think it's a sin, and so we should be moving toward a life of being debt-free over time, and I would say by the time you reach retirement age, I'd love for you to be completely debt-free including your home.

So that's a great thing, but should you pull money out of the market and namely retirement accounts to pay off your mortgage.

I don't think so, unless you just have a real conviction from the Lord, you absolutely need to be debt-free at all costs. And here's why that some of the most expensive money you can access because of your lesson. 59.

Have you got a 10% penalty right off the top and then all of that money becomes taxable to use income. So instead of making 75,000 a year. I just picked that number now so you pull out 400,000 and you made 475,000 in a given year. And guess what that's going to do your tax bracket. Good portion of that money to move up higher. So what I would rather you do is be systematic in paying down this mortgage, perhaps accelerating your payoff over and above your monthly payment by adding something to it, which means you gotta live on a spending plan.

You gotta keep your lifestyle at a minimum, so you have margin that you could direct toward debt reduction and specifically mortgage payoff, but I wouldn't do that by taking a huge lump sum out of your 401(k) I thought a lot out you know Charles the following thing I am. My question is what on 22% tax bracket.

My wife and I she generally I'm tired she can retire within probably 3 to 5 years. My thought was when she retires it would probably still be in the 22% tax bracket tax brackets change that would not be wise to just take up to the limit of the 22% tax bracket, wherein thought out pay down the mortgage and by the time she retired house. I will have any other debt.

Yeah I think that's really where you just need to really come to a conviction about how quickly you want to do it and with what resources. Clearly, if you can keep that money growing for you and you can use other means, namely cash flow from wages to accelerate the mortgage that be great because then you have that asset there to fund your retirement in that season and you be paying down your mortgage hopefully sinking it up with the other retirement date. If you just not able to do that though when you say you know what I've done some retirement planning.

I feel like I'm on track and I want to take a portion of this systematically to supplement whatever. I'm already sending over and above the payment to make sure that it's paid off my retirement will that's I think that's great.

But again and and you pointed this out, I wouldn't be pulling out huge lump sums in any given year, I'd probably do it systematically, over time, and I wouldn't miss out on the opportunity to try to do it out of margin out of cash flow as opposed to taking it all from the 401(k) just because it's there and the last thing is me just say this again to make sure I'm real clear I wouldn't do it just because of what we've been through in the market that should be expected and will go through those periods, but will at least historically speaking always moved to higher ground. Charles were glad that you called today and we hope that information helps you.

Thanks, over so so very much. Abilene, Kansas. Dan what your situations are like all that place. The pastor to be executive three estate to what you been fulfill.

While and in the one we found out things we didn't know it turns out both in the decedent and his father that were bought US bonds taken out and come way past the maturity to attend around $350,000 my mom. I split the inheritance, but mom is 87. So my question is this, obviously, personal protective purposes of being lies here in income basis, probably should I take those out in increments and secondly my moms all stressed about this is that mom went out there and so we know what we should do for her what would be the best way for her portion as well yeah okay so tell me the origin of these bond accounts were where they recently inherited.

We just recently last three years we went with the probate. Probate was clearly go through and that we had. But Bob ourselves we had to trust that include everything that came from the previous these two estates, one of which is my aunt is my mom's 13 years. Okay so your inherited bonds you receive. What's called the stepped-up cost basis to the fair market value as of the date of the deceased's of the original cost basis the that was paid for.

It doesn't matter.

It stepped-up so then the question becomes what's the right thing to do with that money for your goals and objectives moving forward if they were still alive and right around the corner will finish this conversation that more money was not many people adopt an attitude toward marriage and finances that it'll 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 counseling by Howard date will help you discover God's approach to growing your finances strengthening your relationship with your mate and cultivating godly joy, money, and marriage God's way and moneywise live by.

I'm very glad I'm here to help you understand how urgent it is a sugar for every opportunity to the eyes of a layman, because it is fun.

It is urgent. No man knows the hour, but a lot is going on right elbow suggested the rapture might be getting real close. If that's even a possibility the urgency of reaching your unsaved friends and loved ones goes up exponentially is beyond comprehension. The horrors of the face if they don't accept the Lord before the rapture and that takes time to start taking the time right now.

Every unsaved friend, you have every day closer to Jesus.

If you knew the renters happening tomorrow wouldn't hesitate could be. Here's the fun part. If you start doing this with all your unsaved friends so they will accept the Lord and when they do celebration. Tybalt here and Evan were the Angels. Now that's fun.

Now that's fun. There is nothing more exciting than knowing God is using you to move people closer to him.

Join is not America is going wrong. Never children will just be misunderstood and follower of Jesus. Do you know if you have enough money 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.

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Find it all in master your money by Ron blue available when you click the start button moneywise live to work with Stan and Evelyn Kansas received $350,000 in bonds.

He and his mother split that were trying to figure out just exactly what to do at this point in time with it. The Rob turn this over to you, sir.

Since I don't know anything about yesterday. Thank you for your patience. What I was just talking about before the break is that you receive the stepped-up basis to the fair market value of debt as of the day of the deceased death.

So at that point you have minimal capital gains are least you should buy the time to sell. And obviously, three years of past so you have to factor then I think the big question is, are these the right investment holdings for each person who is now the steward of these resources are they the right for your mom thing for your mom in terms of what are her needs, goals and objectives and for you, so talk to me about what it is you're trying to accomplish here you trying to just move to other investments or you have a need for this money. What is it you're trying to accomplish. Right now I don't love all is well that where monies associate believe some thing about living good for her, and let them think of myself as a fact is looking okay do I need right now though I could use basically with other things that were already in our name. Other as beneficiary of the bond things we inherited. We really pay and and I've done some investing already so to 225,000 so far that's not that's was what was dollars that was for sure here's there in their name.

You know they fully matured for the last 70s and okay we will do ministry, which we that's part of my life my life. I would love the Lord and in ministry for 25 years now and that was okay with the best thing for so I guess what thing is yelling with that little side helper vessel for large but really is good to take it all out what we will do the right now because it's fully matured and I think really having a financial planner to help you navigate this would be helpful not really starts with you and your wife and then your mom for her portion, praying through and saying you know, based on our values and where our God-given goals and objectives where we think the Lord's taking us what is our financial finish line if you will. How much are we trying to accumulate between now and let's say your retirement whenever that might be down the road and what is God calling us to now and in the future and how much should we be using to give and get into circulation into God's economy now and how much should we be investing for future and then for that portion that you perhaps want to take and redirect other investments. What's the right mix of investments for you know how much risk do you want to take what is your time horizon and are there other better places for this money. There probably are right now in this low interest rate environment is probably a mix of stocks and bonds, but again, you're not time trying to take any more risk than is necessary, and to your point, it may be that you want to do some giving. With this money now, so I would recommend if you don't Artie have one stand that you will set up an appointment with an investment and financial planning professional would recommend a certified kingdom advisor somebody understands your values and God's word as it relates to your role as steward of this money and who's a competent financial professional to who can help you navigate taking the significant sum of money $360,000 roughly and helping you determine what we want to do with it. Now in the future and for that portion want to put to work what is the right mix of investments because this is a substantial sum of money and obviously you want to be found faithful with that. So that would be my next step for you. You can do that by going to our website moneywise just click find a CK stand. Thank you very much for calling in today. We wish you and your mom and your family the very best. I let's try Plainfield, Indiana again and Devon were glad that you got back in queue here.

How can we help check her out like my question today work for a large corporation and like a lot of people and I'm working remotely from home almost exclusively now trying to understand what the IRS's guidelines about deductions for home office and as an employee. Do I qualify for that deduction is that only for self-employed people.

Yeah, and I'm not a CPA, but what I would just tell you, generally speaking, in practical terms as a W-2 employee. There's really not the opportunity to claim the whole home office deduction for work done for your employer, you would need to have a schedule C were which you would have if you were self-employed or had a business and then there's a separate form where you would claim through either one of two calculation methods. The expenses related to use of a portion of your home for specifically work done exclusively for work in its IRS form 88, 29, but as a W-2 employee that is not going to apply here because you don't have that schedule C so I think that given this situation, probably not much opportunity there. But that would never preclude you from visiting with a tax professional. Just to say is there something unique in my situation that I'm missing and you certainly want to take full advantage of everything due to you, but I think in this situation, given that your W-2 employee, you find it really is an opportunity. Thank you Devon.

Glad you called today quickly to Chicago and Rosie what's your situation Rosie, where can I go fairly high rate per year for my account. Yeah when you say for a year you're talking about just a liquid savings account are you talking about locking this up and like a CD for a year right now account where I probably never lining rated something at that point where I like it or not. Well unfortunately the challenge we got Rosie as this is a very low interest rate environment. We have historically low interest rates that really are a direct result of the pandemic and the Fed's action to keep the economy stimulated and functioning properly. In the midst of these challenging times and the Fed has said they're not even thinking about thinking about raising interest rates at this point so I don't think German Powell has any inclination to see rates move up anytime soon.

And so what that means is that these set interest rates are going to stay low so we generally recommend Rosie for your high yield savings that you use one of the online banks linked to your checking account. I usually recommend either Ally Bank, Marcus, or capital one 360 about the best you're going to find right now is .9% so little bit less than 1%, which is what you said you have most of them are at .8% in the brick-and-mortar banks are to be a fraction of that. So if you're in close to 1%, you're pretty much about the best you can find. Unfortunately, if you move into CDs.

You're knocking to find much better than that. Right now, one year CDs only about .85. So again, less than 1%. So there's no reason to lock up your money for a year. If you're if you're not even going to, you're barely going to do better than you would with just a high yield savings and the six-month rate about the best you can find is even less than those those high yield savings so I think you want to just stay put.

Know that your money safe. You have that FDIC insurance is always with a bank that has FDIC's and your about the best you can be and will look forward to higher interest rates down the road okay thank you Rosie as St. Joe Missouri Mike we have a little bit.

I mean a little bit of time can you give us was briefly while I'm retiring on full retirement and I just wanted me. Why not take myself.

Fieldwork, I see. So talk to me about this if you were to stop working. You would need to take Social Security to fund your pay is that right you don't have other asset you could live on. I got retirement fund called peers okay and I got 4403B plan okay all right well here's the way we would typically look at that, you know, one of the benefits of continuing to work is remember the way Social Security works is it factors in these quarters that you've been working and every quarter you work where you have wages that are higher than the previous quarter that has been factored in the equation is replacing one of those lower quarter. So one of the reasons why you would want to continue working. If you have that option. And obviously there are number of factors that play into this is.

It would allow you to snappily see that check automatically increase as you go to full retirement age and then increase by 8% a year until the age of 70.

But if you're replacing quarters were you earned last years and years ago with quarters where you're earning more. That's also going to increase your Social Security so benefit number one as you delay it because you're going to get a higher check for the rest of your life, but I think beyond that, you need to think about where is God taking me what is it that I want to be doing and if you want to stop work. Obviously, you need to first of all ask Lord what you have for me in this new season because I don't think our calling has an expiration date in the number two is how I got to fund my expenses hopefully are able to keep expenses low. Hopefully you'll be completely debt-free at that point and then you gotta put together a retirement budget that says what do I need to fund my lifestyle, my living expenses on a monthly basis and figure out what are your sources of income and that's either going to be the 43 be converted to a stream of income or a retirement plan or Social Security or some combination of the three and I think what you need to think through and pray through is is it doesn't make sense for you to delay that retirement to see the Social Security check increase or between all of your income sources do you have what you need to fund your lifestyle. Therefore, you stop working, you start taking Social Security and then you really start praying through Lord where my going from this place, so I will be praying for you as you make that decision, but a lot to think and pray about my God bless you, thank you so very much and I well that's pretty much it for today's program for Rob last time Steve Moore moneywise live is a partnership between the radio and moneywise media enjoy what we do here. Each day tell a friend then join us again tomorrow for a brand-new edition moneywise live

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