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Joseph and Mary: Rich or Poor?

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
December 25, 2020 7:03 am

Joseph and Mary: Rich or Poor?

MoneyWise / Rob West and Steve Moore

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December 25, 2020 7:03 am

As you’ve considered the story of Christmas, have you ever wondered about the financial status of Joseph and Mary? Many have asked how a young couple, just starting out in life, could afford to escape to Egypt like they did. On the next MoneyWise Live, hosts Rob West and Steve Moore take a closer look at Jesus’ family, but this time through a financial lens. Were Joseph and Mary rich or poor? That’s on the next MoneyWise Live at 4pm Eastern/3pm Central on Moody Radio.

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An angel of the Lord appeared to Joseph in a dream and said get up, take the child and his mother, and flee to Egypt and remained there until I tell you, well, Merry Christmas. We hear it moneywise.

Hope the day is truly blessed for you and your family today will look at Jesus family but through a financial show about money and please hold your calls because were recorded today as you might suspect asked more Joseph and Mary for next right here moneywise. Red is of course Matthew to verse 13 and it forms an important part of Matthew's account of the Christmas story, but it also raises a question doesn't just want to be several, actually, but I think the one you're implying is, how could Joseph and Mary, a young couple just starting out in life pay for their escape to Egypt the other day we had economist Jerry Boyer on to talk about the economics of Herod and the corrupt Temple class in Jerusalem. You know Jerry always challenges us not to ignore what may appear to be minor details because every word in Scripture is important. Or it wouldn't be there but at the same time we don't want to add details that are in the text and this sometimes happens when people try to determine the financial status of Joseph and Mary and I for instance well. For instance, some claim that the young couple may have had considerable means to travel from Nazareth to Bethlehem in the first place, a distance of about 90 miles and some say that Mary Shirley must have ridden a horse or a donkey to make such an arduous trip, especially while pregnant.

But that's just opinion.

Matthew says nothing about the trip and the account in Luke makes no mention of Mary writing an animal, the Roman emperor Caesar Augustus had demanded the census be taken for tax purposes and in Luke two we read and everyone was on his way to register for the census, each to his own city. Joseph also went from Nazareth to the city of David, which is called Bethlehem, because he was of the house of David. In order to register along with Mary, who was engaged to him and was with child, so there's really nothing to indicate here that Joseph and Mary were wealthy but what about the evidence that they were poor.

Well, the first hint of that comes later in Luke two verses 22 and 24, which read they brought him Jesus up to Jerusalem to present him to the Lord and to offer a sacrifice according to what was said in the law of the Lord, a pair of turtledoves or two young pigeons that tells us that Joseph and Mary had little money because a lamb was the customary offering, turtledoves or pigeons were an offering of the poor, but that really begs the question, how did they afford that later trip to Egypt and then two years of exile yet to answer that. We turned Matthew's gospel two years after Jesus birth the family was still in Bethlehem, where the Magi found them in Matthew 210 and 11 we read when they saw the star, they rejoiced exceedingly with great joy after coming into the house, they saw the child with Mary his mother and they fell to the ground and worshiped him. Then opening their treasures, they presented to him gifts of gold, frankincense and myrrh. Now, here again, some people believe this made Joseph and Mary exceedingly wealthy because those gifts must have been of great value, but Scripture doesn't say how much they were worth. But they certainly came in handy right at that moment because that's when Herod ordered the murder of all boys age 2 and under around Bethlehem. In Luke 213 and 14 we read an angel of the Lord appeared to Joseph in a dream and said get up, take the child and his mother, and flee to Egypt and remained there until I tell you, for Herod is going to search for the child to destroy him. And of course that Joseph took his family to Egypt and they stayed there for two years until Herod had died and it was safe to return to Israel, I see, and they may not have been able to stay away that long without the gifts from the Magi I actually write things frappe and speaking of gifts so you have some exciting news for our listeners or while I absolutely do Steve moneywise God is listener supported and we need your help to keep God's financial principles on the air. So between now and December 31 a generous donor. Listen to this, is committed to matching any contribution you make to the ministry so please prayerfully consider making a gift today. I just go to moneywise live.org and click the donate button and I promise you'll feel twice the Cisco had a man moneywise live.O RG click the donate button and thanks in advance. Now were pre-recorded so please hold your calls but we have some great ones already lined up. Stick around very Christmas and this is moneywise live do you know if you have enough enough money of house. Do you know how much is enough.

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We appreciate your patience, Mike, you learn a lot years old.

I'm sure I will thousand and one little behind all that I read children are grown and God is really blessed That allowed us to have our call for and my question to you is I have a 403B invested in a number of different annuities tax-sheltered annuity and 441, I have been advised by my counselor to go. I had an payoff a equity line that said about 25,000 my mortgage at 5.05. I believe it variable it's been going up. I could borrow that amount of money from one my 403 annuities at 2%. I'm going to be working. Maybe. Maybe I'm gonna try to hang in there for another five years and I wanted your advice on if I should take my part of my 403B and payoff that $25,000 equity line.

I'm not a big stand of borrowing from retirement accounts really for any purpose, especially paying down debt.

I'd love for you to be debt free. When you reach retirement.

Do you know based on your current trajectory on what you're paying to this each month and I'm assuming you're living on a spending plan and this payment fits within that in your current audit if that's the case, do you know when you expect this to get paid off in full. Based on your current payment schedule going to be pretty much continue.

All I can Thousand dollars that it and my my my thinking is that it matures into believing no more drawl date on like two years now.

I won't be able to draw on it and I'll just beat paying on it right and that higher rate okay so what is the right now and what will it be right now it's 5.05.

Where will guide you. Not now okay and you said it's 25,000 so it's a home equity line and were still in the open. Were you can draw from.

I can draw from it now button to hear draw okay and will what about the equity you have in your home. How much do you have and beyond your current mortgage in this equity line. I've got a good amount. I like one starting with this 25 nights. Another like 150 in my is valued at close to 400 okay well you one thing you could do here would be to convert this to a home equity line of credit. Would you be a fixed rate and you should know rates right now are running right at 5%. If you have good credit you see a lot of equity in your home. So I think that would be one option where you could pay this with a home equity line of not a lot of credit home equity loan is what I should've said you have a line of credit you want home equity loan, which is good to have that fixed rate and you know I'd love to see you, perhaps even get that assuming the payment works within your budget. Get that at a 10 year payback. You could go 20 years they'll even let you go. 30 I wouldn't do that but that way you you've walked in this fixed rate of 5% your building and your budget.

You're planning to work for another 10 years. Is that what you said thought I I try to hang on for five okay so the goal would be that you perhaps limited to a 10 year line of credit on the payback try to accelerate that with an extra payment a year if you can and get that paid off that way. Often times these home equity loans right now will have no fees whatsoever as long as you keep them for at least three years. If you were to pay it off before that you may have to pay the upfront costs that they incurred to give you the those line are skews me the loan, but the key will be you'll you'll move to this fixed rate in this current environment.

Then you will allow your 43B to continue to grow which is what it's therefore anyway, and you'll have the full amount working for you between now and retirement so you have that available to supplement any other income sources because keep in mind if you take this loan, even though you just paying interest to yourself number one it's not working for you anymore because is not in the account and if you were to separate you know from your employer. It's all taxable to you and we certainly don't want you to have all of this taxable in one year, which could be pretty costly. So that would be my preferred approach and you could look at Discover home equity loans, or any number of other options there. You could check out a bank rate.com to see who has the best terms right now, but I think that would be my preferred option before paying it off with a loan from the 43B Gregory, thanks so much for checking in with us today. We appreciate that. Let's move quickly to Chicago, Illinois, and Kathy.

How can we help you out pretty large. A couple years ago but my problem is that my Christian and totally for anything in the church and I have any way to appoint Larry paper anything like camp or anything like that and because of the large amount I kind of feel like leaking any time I had any money, but I believe that God so I'm here because I mean it one point our money and permitting me to get things illegally. This could be just my my, but I don't think that that's what God would want me to do. It could injure my marriage well, but I don't want to hurt my relationship with God so inclined very hot.

Like I get to compassion international don't do anything there.

All right with him, but I mean I did it'll end up like taking like 10 years to pay it back.

Charity is a little at a time.

I don't really know what to do well.

Kathy couple thoughts your number one. I appreciate your desire to be found faithful in giving and you obviously take that very seriously and we should as believers we should be generous givers. I think though.

What's even more important, perhaps even to the Lord. This is just my thought here is your husband coming to Christ and the Holy Spirit, grabbing a hold of his hearts and revealing his need for a Savior and coming to a saving knowledge of Jesus Christ as his personal Lord and Savior.

I know that's got to be your desire. I'm sure you've prayed. To that end, for many, many hundreds of hours and yet we can read a bit about this in first Peter three young men in verse one it says wives in the same way, submit yourselves to your own husbands, so that if any of them do not believe the word they may be one over without words by the behavior of their wives when they see the purity and reverence of your lives, and I think you know first Peter 31 is a great example of how we can honor the Lord by submitting to her husband in a way that allows him to see you living a life of faithfulness and and of holiness and of devotion to the Lord and not perfect by any means, still a sinner saved by grace but pursuing the things of the Lord, and that perhaps through your example the Lord might do a work and draw him on your husband unto himself. That is the Lord and so I think that's perhaps preeminent here not you trying to certainly sneak behind his back, to do your giving.

Remember, it's all the words he doesn't need our money. He wants our hearts. He knows full well your desire to be found faithful in the area of giving, but I think perhaps as you honor your husband in this process and use that as a testimony to the Lord, your willingness to submit. Let's just ask the Lord to use that in his life to do something miraculous and I would as it relates to the giving specifically approach her husband and say I'm not going to go around.

You and Simon honor you. I want us to do this together. You know my hearts desire is to be a giver and so I'd like to talk about what we can do together to allocate a portion of our resources be at the inheritance or otherwise that we can do some giving with and perhaps you take a period of time. You say to your husband. Let's take six months and do tax either a percentage of your income or a dollar amount and then at the end of the six-month let's get back together. Talk about how that went, and see what the Lord does is your faithful and giving with him bought into that with some amount and and see what to how the Lord might use that. But I wouldn't look at this.

Kathy is a bill that you owe to the Lord that you need to make good on. Remember, God doesn't want us to give out of compulsion. This is not about legalism. This is about holding his resources loosely and honoring him in all that we do and I think by you honoring your husband's wishes and not trying to go around him your honoring the Lord at the same time so I would be encouraged. I wouldn't feel guilty night approach her husband with this, make it clear that you're going to work together but see if you can come up with amount that he's on board with and I think if you do it God's way. Kathy and some of Rob's recommendations all of his recommendations, I believe. I think that's going to dismiss his timing and asked all of us to pray for Kathy and her husband's money wisely.

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In no reason to think straight. Still drinking it against right thing is not until we would make a willful decision in God may be right about intoxication and I'm not talking about literal what ever your money. What is this not so intoxicated.

We pushed back pain began to work Christmas long today. It's really one live with Rob last time Steve Moore back to our phones to one of my favorites, New York hello Dean what's in your mind with my husband and I am wondering about the advantages and or disadvantages of paying off our mortgage and in a lump sum we have a contract. The mortgage contract and has no penalty, prepayment and we have about 159,000 in savings and we calculated that after we payoff everything including the house. We would still have about 59,009 savings might have been higher.

Older hockey 74 I'm 67, but he still fully full-time employee getting a full salary plus authentic veteran pension. He's 100% disabled and were both on Social Security so the word thinking that we would like to own our home screen clear and well it's a great question. Do you appreciate the background is the hundred 53,000 in retirement account or is that just a note taxable savings account. It was part of our pension that our company gave out to the employees so it's actually in our credit union. It's just in a savings account okay very good so did tell me do you have any additional retirement savings. Besides the hundred and 59,000 okay and you said that your husband has, of course, this pension money. He also has a Social Security coming in, as well as some additional guaranteed income.

Are you all able to meet your obligations right now with the income that you have. Yes, we are okay.

And what if you stopped working.

Have you done the budget the retirement budget that does not include any current wages but just the income that will continue on like the retirement from the military as well as the Social Security that type of income. Yeah, we figured salary the VA pension and are both Social Security income that we could we could live on that quite well. I think okay very good and what you think you spend on a given month. Right now, just rough numbers. What do we yeah he would. Do you have a budget and if so, what's the total of that in terms of expenses on a monthly basis. 2000 3000 4000.

Boy, I would say maybe 3000 okay so here's the good news I think is number one you got these guaranteed income sources that are going to last the rest of your lives. You want to understand what you would be entitled to if the Lord calls your husband home before you and make sure that you understand what that is your living on this budget right now.

I assume you have a very detailed look at and how much is there and you if you paid off the home. If you paid off the home you would be in a situation where you have less expense because now you don't have the mortgage payment and you know you would still have $60,000 which is more than a years worth of expenses. So I think you're in a good position here. I would actually say let's proceed with paying off the house and the other debts you still year in the bank. You got all this guaranteed income and now we just lowered your lifestyle and your monthly expenses so you certainly could see seek some additional wise counsel, but I like the idea, especially since feel like the Lord is placed it on your heart.

I like the idea of you all being debt-free and just pursuing paying that off. Even now, so thank you so much for calling. We appreciate that. Thank you very much DNR you comfortable with the numbers that the gave to your room, absolutely okay you know at this time of year. Lots of people are thinking about giving and being generous and with that set up anything from the mines or well tell you Steve, you know, it is the time of year when we think about needing to shore up our budget spirit moneywise media as well as thinking about next year.

So if you would pray about possibly joining with us partnering with us in giving to this ministry we be grateful you can do it quick and easy it moneywise live.org or you can call us AAA 866-34-TRUTH one you help us and enables us to help others find true financial freedom is not just about getting out of debt.

But it's finding God's plan for your life which allows you to be more generous than you are. This is moneywise live he's Rob last time Steve Moore 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 a Better Business Bureau accredited charity interested. Learn more by calling 800-791-6225 or online at CH ministries.more. How should we as Christians think about investing. What if we could invest our money in a way that aligns with what we believe that Eventide we believe it is possible to love God and love our neighbor in the very practice of investing we designed investments for performance and a 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 available@investeventide.com which helps me grow weeds grow. I suppose when you reading today in the word is by ourselves. We need the word of God should get out of into the Scripture is invite your family to join them in unwrapping the names this Moody publishers begins with an interactive family devotional offering five daily reflections that this can include suggestions for fun filled family activities service project focus on the birth and character of our Savior. More information about unwrapping the names of Jesus is available@moodypublishers.org many people are experiencing financial challenges such as credit card debt downsizing that in jobs savings. In fact, more than half of all the forces are the result of financial pressures at home, but there's hope in your money counts biblical financial expert Howard shows that the Bible is a veritable managing your finances will discover the profound relationship with God, your money counts is available when you click the start button moneywise live.org, the Federal Aviation Administration had temporarily halted flights out of Nashville International Airport because of telecommunications issues associated with the explosion earlier downtown service expected to resume at 3 PM local time. Authorities say that explosion inside a recreational vehicle park downtown early Christmas morning was delivered three people hurt in the explosion, which shattered windows and damaged buildings. The FBI taking the lead in the investigation fast-track ratification of the post writes a trade deal between the UK and European Union is underway, ambassadors from the box 27 nations have started assessing that a court that takes effect in a week. Alabama teammates Mike Jones of the Bonnie Smith along with Clemson's Trevor Lawrence importers Kyle Trask Babin named a finalist for the Heisman Trophy. This is SR and use long. Today it's moneywise live less times more except were not live today. Today's edition of the program is to go try to call them but I hope you will continue great financial information coming your way on this is what I will this what I know is your favorite Christian radio station and you're blessed to have the station in your area you Rob. I lived for number of years in a part of the country where there was no Christian radio and and I was used to good Christian radio and to not have any at all. Was really took some getting used to and I'm glad I'm not there any longer. Why exactly right Steve, we don't often realize what we have until were without it had so yeah whoever is listening to our voices right now in a great Christian radio station we should make sure you let them know how much you appreciate.

Amen. Especially this time of year. Re: let's go to Chicago and Nicole. How can we help you with your question be to three and then everything changed to September 4. This year my time doing it the right way to notice that I have no federal tax check so maybe I'm doing something could be that your below the standard deduction what what is your your pay the tell you bring home roughly a paycheck. [Out okay and are you married no okay all right well you know it would behoove you to go and then check did you use the tax withholding estimator on the IRS's website. Yeah, I would start there. The IRS encourages everyone to use the estimator to do a paycheck update or check up if you will, especially if you haven't done it.

Now in 2020, but this would be a great way for you just to recheck your withholding. You just want to Google IRS tax withholding estimator and you'll just be able to go through their little calculator there and it'll tell you exactly what you should be doing and what that should be related to your W-4 and then whatever it is it is.

I think in a related to you how many deductions you have no it will tell you exactly what you need to withhold so I would go there. I think that will give you some peace of mind to know that you've double checked it and you can see if that it comes out the same way that it did last time you completed this exercise directly on the W-4 and if you have further questions I tech check with a tax professional just to run this by someone who can give it a once over. But I think between these these two you'll you get the information you're looking for. I already think your call about probably have an email. We haven't done some emails in a while so let's do that. This one comes to us from from my let's see yes from Ben. He says there Rob and Steve, I'll be retiring soon and will be rolling over about $2 million into an IRA.

What's the best way to tie it on this amount. Thanks very much.

Well Ben I love this question. So obviously you want to honor the Lord here. You want to apply the principle of the tide which is based on the increase. The question is, what is your increase so there's a couple ways to go about this one approach. Again, not trying to be legalistic here but just really wanting to honor the spirit of your desire to give on this on the increase.

One approach would be to say what is the total amount of my contributions over the life of this IRA.

The money you put in the difference between the current value and that amount is your gain. That's your increase and then you could tithe on that amount over time. You probably not be able to do that. All at once or you would want to get should put that push higher tax bracket as you took this major some out, but you could do it systematically over a number of years and then just keep track of that. Another approach altogether would just be to say all of this is God's blessing and provision, and as you pull money out as income, meaning you're taking withdrawals on this to supplement Social Security and whatever other income you have. As you pull it out, you're just going to see that is increase and so then you're going to tithe on it just like you would if it were a paycheck. Now I realize that you potentially you're going to get to a place where your quote and quote tithing again because if a portion of what you're taking out is your own contributions that you tithed on you when you earn that money.

If you are tithing on the gross amount that I recognize it's not a perfect science, but I think one of those two approaches would really been help you accomplish what you're looking for either determine the total gain and then tithe on that over time or just tithe on it. As you take it out as income and I think you're one of those two will really help you do what you're trying to thanks very much and if you have a question you like to ask Robin you'd like to do it through email instead of actually calling you and you can do that. Just keep it short just keep it brief. The address is questions@moneywise.org questions@moneywise.org and Rob recently spoke with the listener. If I'm not mistaken she was elderly in her mid-70s and right upper right off the the top of the question. You mentioned something about risk tolerance. What does that term mean and how is it different for a 50-year-old might be for a 70-year-old yeah well it's a it's a great question, Steven and basically what were talking about we talk about risk tolerance is yeah that's the degree of variability in investment returns that you're willing to withstand in your financial planning. So the risk is how much gain in my looking for and in exchange for that potential return on the upside, how much downside in my willing to allow in and we all need to think through that, you know, if you're fully invested in stocks. I feel like you need to be willing to see 35% reduction so you could just ask yourself that question if if I'm fully invested in stocks, meaning I've got at least 10 years time horizon till retirement probably even more than that and I were to open up my statement, one quarter, meaning it's been three months since I looked at it and it were down 35%, would I be okay.

Letting that come back over time because if it was down that much and one quarter which is what happened earlier this year with those of folks who weren't fully invested when coronavirus first hit you, they would have to be willing to see that and not react emotionally not say on this sellout go to cash which would be the absolute wrong move to make. When the market is down that much and that's what we mean by risk tolerance, and if the answer is no. Is nothing wrong with that. You just need to recognize you have a smaller risk tolerance, and you probably don't need to be fully invested in stocks. You need to offset that with a portion that is in more stable investments like bonds and CDs and and things like that stay so we talk about risk tolerance. That's were talking about how much variability in your returns. Are you willing to withstand as you watch your investment portfolio perform over time and age would just be one component that would be I would presume some other components maybe be the amount of debt you're carrying. Maybe future expenses like college educations, things like that right now agent and time horizon are really the key. Because it depending on when you're going to need this money. Keep in mind, even somebody who's hitting retirement today who doesn't need the money to supplement their income because they have other income sources may not need that money for 20 years and so they have the ability to have a higher risk tolerance in their investment strategy. Even in retirement, listening to moneywise live with deposit for a brief break strategy for your finances, your career, even your strategy for your getting Christian foundation and your family maximize your resources to learn how to moneywise.org a wrong turn when it comes to money. We all steer clear financial potholes this month. Moneywise the magazine is all about helping you make moneywise decisions with explicit podcasts and articles steer you in the right direction where free option is waiting for you.#here to help me understand God's purpose for your life to the eyes of a layman in the security of our Christian homes in the knowledge that were on the way to heaven is hard to imagine the clash of a motion to confront those who don't know the Lord during the holiday.

There's the pervasive message of the Christ child mixer the opportunity for late nights and heavy parting fears and apprehensions over what the new-year-old starts pressing in, along with the feeling of being out of control. What's it all about out it was a hit song back in the 60s and said it well is it just for the moment we live the tragedy as most of America find yourself asking that question right now, out of fear of what the new year is about to bring his people were desperate for the peace of God that passes understanding. It's time to turn your light on your job is revival outside the walls by moving everyone every day doing a go tomorrow. TW.com hospitality Dustin Willis and Brandon Clement say it's the simplest way to change the world gospel centered hospitality makes a powerful witnessing statement as we open our lives and homes to the simplest way to change the world will show you how you can be hospitable even if you don't have the space for most people are more likely to step into a living room sanctuary. So why not read the simplest way to change the world more.com feeling that it's time to make a change in the possibility of a position is looking to fill a number of unified management, national, and not worth your time and position openings available now. You'll find jobs online jobs.jobs.org US today is live with Rob last morn. Of course if you're a regular listener, you realize by now, everything we do and say on this program, even though it's about money comes from God's Word the Bible, and if you'd like to really look into what the Bible says about your finances, let me recommend the financial stewardship Bible from our good friends at the American Bible Society. You'll find available to purchase. When you visit moneywise live.org.

Okay, let's go to Miami Florida now hi Norma, thanks for your patience. How can we help you today, for want of training.raw 401(k) all 401(k) yeah Norma you know it's not a cut and dry decision.

There are some considerations here when you're thinking through this. The first would be yo can you afford to contribute the maximum allowable amount she kiss. Keep in mind with the Roth you got more money going in because the taxes of Artie been paid versus the IRA with the same can't the truth. The traditional 401(k) with the same contribution.

It's effectively a smaller amount because you still have to pay the tax bill down the road so that's the first consideration. The second is what's going to happen with your future income potential in retirement so your friend since if you think you're going to have you earnings in retirement, then this on top of that, with the traditional IRA. You know could cause you to end up spending more but for most people they're going to be in a lower tax bracket in retirement because they're not going to be earning what they're earning right now, potentially nearing age 60.

You could be at your highest earning potential throughout your entire working life and so paying the tax. Now wouldn't really be a benefit to you when you're going to be in a much lower bracket later.

So from that standpoint it be better to go into the traditional 401(k) get the deduction during your highest earning years and then take the money out in retirement when arguably you're in a much lower tax bracket.

The only unknown. There is, what are the future tax rates are going to be and that's not a simple answer. We just don't know. So we just have to make some some guesses there. The final question is are you going to be in a position where you don't need the money and therefore you could really benefit from the ability to allow this money to continue to grow and postponing withdrawals beyond age 72, which would be the case with the Roth so I think those are really your considerations in terms of can you put the full amount in now. In both cases, number two.

What do you expect will be the case with income in retirement and taxes in retirement versus today, and then, finally, is this money you're going to need to be pulling out so you're not concerned about the required minimum or is this money you might want to let just continue to grow for your errors and if so, than the Roth would be a place to do that because you don't have that minimum distribution requirement. What you get to age 70 that you follow those thoughts okay now probably the foundation not take money for one $20,000. How backplane kill rate money from the 401(k) or a rate I wouldn't take the money from the 401(k) I would be looking at one of two options. If you did refinance and I like the idea that you're actually reducing the terms, the question would be, doesn't make sense to refinance the home mortgage no reason you'd want to do that is you can save at least a point in the interest rate you're not can extend the term what you are.

You said you're not and to be in the home for at least 5 to 7 years. Do you think you could save a full point on the interest rate fell okay so then you might be yeah better off cutting the term down by two years getting the reduction in interest and rolling the cost into this a cash out refinance read get the money for the foundation.

At the same time. The only other option would be looking at a home equity loan, not a line of credit but a loan for the amount you need specifically for the foundation. But again, if you can save money in the refi and you got the equity that pride be the direction I would go, not the 401(k) by any means, thank you very much to Skokie Illinois next skews me that was Skokie Ellen and Bonnie, how can we help you all sure how much your program brought up on the show before getting my uncle paper called generally I'll just go and say we're not attorneys, but I understand the concept behind it.

So is your question. Is this something you should sign in order to get your inheritance well back well yeah I don't think that would be an issue here me again I would seek legal counsel here, but this basically protects the executor of an estate. So prior to you receiving a distribution from an estate, the executor will often require you to sign this release and refunding bond which once you do that you essentially waive your right to a formal accounting from the executor of the state and then any future interest in the estate unless it's shown that the bond was picked procured by fraud or some other impropriety. If you don't sign it, you can still get the inheritance of the estate you would just like we have to wait until the probate court releases the funds which could take several months of this is essentially a way for you to get that the funds a little bit quicker but you're giving up your your recourse here. You know, printing formal accounting and in the final settling of the estate, but in terms of you know anything beyond that mean I'm just talking generally about what this document is for.

I would see because some legal counsel perhaps talk to your own attorney could get a referral from your church or even an attorney that's handling this particular state.

If there is one, but that's essentially what it is. I wouldn't be terribly concerned about it. It's a fairly common process kind of boilerplate stuff from primarily to protect executor is that which is.

That's exactly the most part I Bonnie, thank you for your kind comments about the program and we trust that information will help you we wish you the best things that I think we have time for Jackie calling from Northbrook, Illinois, and how can we help you pull wire back well current yeah I haven't been able to hear any of you not like it.

I think that Jackie is this something is he a professional traders is something he would do as a hobby. Yeah yeah you know I'm not a fan of this. It's extremely risky. The Bible says in Proverbs 21 five the planet Dillard plans of the diligent lead surely to abundance, but everyone who is hasty and I would put this in the hasty category because it's just because of the volatility in the risk who would everyone to his hasty comes only to poverty and I think the idea here is that crypto currencies and trade with way too much volatility they grossly exceed any other investment class and I think the technology behind these crypto currencies is here to stay in her digital age that I think were going to see more and more of this but you know there's been a lot of speculation which is fueled the volatility and you know there's also been quite a bit of fake crypto currency exchanges that have defrauded folks out of their money on. There's just little to no regulation and so they want to stay away from the reliance on governments and government manipulation of currencies. The challenge is that it's difficult if not impossible, for the authorities to recover the funds, but I think just purely from an investment standpoint. The volatility is just puts it in a different class that I think is beyond just since the slow and steady your study plotting the Bible calls it that I would apply to typical investing and because of that speculation and volatility. For me personally, and for my recommendation. I'd say I would stay away from it and look to do your investing in proven, more secure, more sound investment strategies with proper diversification and lower risk. Jackie would hope that helps you. You and your husband have something to pray about and discuss know and we wish her the best thing so much rather believe it or not, Sir, we are out of time so maybe we should put a bowl a Christmas bowl on today's program you obviously we talk about money and finances, but all of that is somewhat futile if it didn't come directly from God's word and his principles and what day other than Christmas Day to really focus on what it's exactly right. This is the day recreates that God became flesh and dwelt among us, Steve, that ultimately he may go to the cross and paid the ultimate sacrifice, taking our place of substitutionary atonement if you will for our sins and we are forever grateful. Yeah, this is an incredible time to be together to remember Jesus send hopefully to enjoy some fun along the way and that's were all about Steve. As you know here on moneywise live really going back to God's word to say how do we apply his truth to our life in this area finances that we all deal with every day well spent all that true, of course, but it's also been a difficult year. In fact there are probably some listeners who aren't with all their family members and will remember you in our thoughts and prayers, and trust that the Christ will fill that void in your heart and in your families a situation this year.

Rob always a great pleasure to be able to work with you like this and I trust that the West family will have a wonderful Christmas day.

Well thank you and to the Moore family as well. Grateful thanks so much as live as a partnership between Moody radio and moneywise media. Thanks, Mary


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