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January 13, 2021 7:03 am
Only of the widows loyal and second Kings four is a wonderful example of God providing for the faithful in miraculous ways. But one lesson doesn't hold for us from those seven and our faith that God will provide for many back then. Today advisors Pres. Rob West seven. Your calls on anything financial at 800-525-7000 805 five 7000 times more lessons from the widows oil next right here, Weizmann on that sometimes is misinterpreted as well. It is Steve.
It's often used by proponents of the so-called prosperity gospel or naming claimant followers to imply that God is like an ATM machine and will always answer your prayers with financial or material gain.
Of course that's not at all with the widows well stories about that's right, I will is find out what the passage is really saying.
Starting with the first verse and second Kings. For now, the wife of one of the sons of the prophets cried to Elisha, your servant my husband is dead and you know that your servant feared the Lord, but the creditor has come to take my two children to be his slaves right where we take from that thing Steve first at the widows husband had been faithful and was deserving of God's provision, but also the creditor is acting against Jewish law by abusing the widow and orphans and further by threatening to enslave fellow Jews, which was also illegal okay and that sets the stage for what follows.
In verse two. There we read, and Elisha said to her, what shall I do for you tell me what have you in the house and she said your servant has nothing in the house except a jar of oil right when we make of that.
Well, here is a lesson that we have a part to play in God's provision that you see he expects us to use what we have, even if it's only one jar of oil God will often use what we already have to provide in ways perhaps we can't even imagine. And Scripture has something to say about that about small beginnings right well that's right. In Zechariah 410 we see. Do not despise these small beginnings for the Lord rejoices to see the work begin. You see, sometimes we don't expect God to provide because, well, maybe we lack confidence in the resources he's already given us. But when we fully grasp that God owns everything, and that his resources are unlimited. Well, our faith, and his provision will grow and so will our gratitude. I believe for what he's already given us yeah okay right continuing I continuing on, then versus three and four. Then he said go outside borrow vessels from all your neighbors empty vessels and not too few. Then go in and shut the door behind yourself and your sons and pour into all these vessels and when one is full. Said it aside.
Okay what about that yet again there are several lessons here a first the widow was obedient she did exactly what Elisha as God's representative told her to do. But we must also be obedient as we speak. Expect God's provision that means following his financial principles found throughout the Bible we unpack those daily here on the program. Second, the widow didn't rely on her own resources.
She went to her neighbors and asked for help by providing additional containers for the oil know it's not always easy to ask others for help when we needed and I believe we can't let our pride stand in the way. Then finally Steve God will put people in your life who want to help you if you ask him if the need is real and you ask with humility that won't always be with money. Of course it could be other resources or maybe important information or advice that will help turn things around. So again the big ideas don't go it alone.
Okay continuing on. Now let's see verses five and six so she went from him and shut the door behind yourself and her sons and as she poured. They brought the vessels to her when the vessels were full. She said to her son bring me another vessel and he said to her there is not another, and then the oil stopped flowing out here we see the widow acting with humility you can you imagine the temptation she must've felt to throw open the doors and tell the neighbors to see what she was doing. The widow knew it was God's hand at work and not hers, and she resisted any urge to claim credit for the miracle. Okay, one more verse it's verse seven we read, she came and told the man of God, and he said go sell the oil and pay your debts and you and your sons can live on the rest.
Again, we see that we have a part to play the widow's role wasn't finished, she still had to sell the oil the marketplace and pay off the creditor but we also see that God provides exactly what came him back and chat some more. Take your calls my money and life run on the same track. Unfortunately, sometimes it seems like your money is heading in a different direction from your goal, and never enough three keys to financial contentment. Author Ron blue helps you to break down all your financial options to a basic floor and then shows you how to keep it all chugging along in the right direction on the same track never enough three keys to financial contentment available when you click the store firstname.lastname@example.org. 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 design investments for performance and a better world so you can invest for the future with a sense of wholeness and purpose.
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I.org today moneywise live taking your phone calls with Rob last time Steve Moore hears her phone number. Any question you have anything financial give us a call will kick it around chat about it and would God's word has to say about it. In fact, that's where we'll start 800-525-7000 toll-free we have some open lines 800-525-7000 were talking about the story. The parable well was really a parable but it's a Old Testament verse that we learn from. It's a lesson that most people referred to as the Windows oil and anything further you wanted to add Rob but I think it's interesting to note Steve that not only did the widow have enough to satisfy the creditor but there was enough left over to live on until her sons could start providing for her, which was the custom of the day. Otherwise she would have still been destitute and have gone into debt again. I think that's a part of God's provision and the key part of the story that we can overlook your I think just at the end of the day, Steve. Overall, this story teaches that we must always faithfully pay our debts when we can also that in our weakness. We see God's strength. We are reminded of our dependence on God.
But then, in the case of the widow, we see that not only were her needs met.
But she became a source of blessing for others by providing oil in the marketplace. You know, we need to invite God into our financial lives. That's the faith. Elements of financial management and when we do that out of a recognition of God's ownership and that our financial journey can really have an effect on our spiritual journey by our trust and dependence in him.
Our willingness to live within his provision and be a conduit of his blessing to others through generosity. I think it really causes us to align our hearts with him, which is the ultimate goal more intimacy with the father like it okay right thanks very much for that and you know often when we run out. As of the widow sort of ran out here.
We think will God's failed me. I live run out. Where is he. But tell you God says I've got something else up my sleeve and stand back obey me you will be mystified as will your neighbors as well and access just a wonderful opportunity for us to see God at work behind the scenes when we don't see God at all. And if that's ever happened in your life.
They would love to hear it. I give us a call today with your thoughts, your questions, 800-525-7000 800-525-7000. Let's go to Alabama now in Charlotte. Nice to have you there and how can we help well I call and started, and I would like to help him financially. I have my escort and I didn't know if I could help him from that or just from personal and how could I help combat financially without getting into any act, problem, and I felt yeah that's a great question.
Charlotte and I appreciate your desire to do this. Does he have a good business plan. Do you believe in adequate reserves to fall back on while he's waiting for it to get up and running.
Which by the way, is usually the most significant problem, that it takes longer than you expect. You don't have enough to kinda weather the storm in savings or reserves at the outset, and therefore the business is not successful, you believe those two pieces are in place. Well I have a good plan. Are there that you know that question for debate up late at this juncture yeah yeah and so II think you know being able to encourage any of the Lord lead you to giving him a gift without any strings attached, making sure that that's clear that that's what it is but also not encouraging something that does you know it doesn't have the rights plan on the outset, meaning you know if he needs more in the way of reserves unless he's already all in you encouraging him to wait encouraging him to find a mentor of sorts.
If you know that's appropriate somebody who's been in this business who could help them navigate the way in terms of your ability to give a mean you certainly can do that, depending on what you're looking to do the annual gift exclusion is $15,000 in cash or assets in any given year to any one person.
If you are married you and your husband could give 30,000 to one person and it doesn't it trigger any kind of gift tax. Beyond that, you have to file a gift tax return and then it would just go against the annual exclusion which right now is sky high in the millions of dollars, but that could change down the road so as long as you're under that annual gift exclusion, then you don't have to think about it and that could be done.
You know, either out of your personal effects, or out of your business and escort flows through you anyway. I think one thing to talk about would be if you're not leveraging the tax benefits of that corporation by looking at what can be paid you a salary versus what's a distribution from pot profits, which affects how the taxes paid. I talked to your tax preparer account about that.
Just make sure you're maximizing that opportunity but I think just encouraging the right behaviors really encouraging him to be thoughtful about how long it's gonna take for this business to materialize in the end of the day.
If you feel good about helping. I'm sure that'll be a blessing and encouragement to him that if you stay under those thresholds that you won't even have to consider the tax implications Charlotte. We wish you and your son the best as you help him work through this.
Thank you very much.
If you get down the road a bit.
You still have a question about this.
I feel free to give us a call back 800-525-7000 Chicago and Rod. How can we help user yeah now that I'm retired and I have gotten retirement account set up and comfortable about that felt it was time for me and my wife to look at long-term care insurance and another several different versions out there I'd seen one proposal for a hybrid policy of where it has no deterrent care component, but it also has a life insurance policy and its whole life and policy, and I know many of the financial Christian financial advisors that advise against whole life that turns the cheapest in the long run, but in this look. You know very appealing versus you know the long-term care insurance where we get out pay a premium every year and yes Eaton just go on from from their absolutely well you're exactly right. You know I'm a fan of long-term care insurance as long as you can afford it. You fit into the rights net worth a category where it's warranted and I thinks you know anybody is north of 250, 300,000 and in assets at less than a couple of million dollars would probably be in the sweet spot. You want to be in the right age to go out and seek it between 55 and 65 typically is when you want to be looking at that word still cost-effective and you want to find a company that's committed to the space you know with an A+ plus rating that really has your commitment to the long-term care insurance space. It's a bulk of their business and therefore, because this industry is now old enough. What were seeing is that the annual hefty increases, which by the way can happen on a person. Policy basis have to happen across all of the policyholders based on the state by state basis.
A lot of those increases cause people to be in a situation where initially they could afford it and they got priced out of it and it became a problem they had to drop the policies were seeing some of that level off, but it's still expensive for me and you can expect to pay $7000 a year for a standalone policy, depending on what kind of riders inflation protection in and of the other types of riders that are there and so that's gotta fit in the budget, but if it does, it can provide a really significant risk abatement from you know what is potentially the biggest challenge you could have financially in this season of life because you know if you have a need for in-home care or assisted living or ill full nursing home care. It's very very costly and the statistics tell us, especially those who are healthy now and get a little long, long time of the Lord Terry's.
That's where you have a likelihood that you could need this type of care on average from 18 months to three years in this kind of policy could ensure that you're able to do that in a way that reflects how you want to be cared for as opposed to relying on government assistance, not Rod. You bring up a great consideration and that is a hybrid policy and a lot of folks are really don't like the idea of the use it or lose it expenses and so they like coupling it with a death benefit in these hybrid policies have become even more popular than traditional long-term care insurance as of late, and so I liked. I like the linked benefit of that as you add a long-term care insurance rider which can be really helpful.
There's some flexible premium payment options. It's easier to qualify for coverage.
You know with the hybrid policy and how it might even allow you to pay for a family member who provides care for you, plus the permanent life insurance policies build cash value. So if this is something you're looking to do. I would encourage you to go ahead and check that out. I think the next step for you as you settle in your retirement budget is to get a long-term care insurance specialist and agent who can go out and shop this for you with some of the leading carriers in the space present you the options and help you navigate what the best policy is for you based on your situation and your ability to pay. There's obviously so many pieces and parts to this that we couldn't nail that down on the radio. So if you don't have an advisor.
I connect with the CK there in the Chicagoland area asked for a referral to a long-term care insurance agent somebody who specializes in this space and you could find a CK on our website moneywise live.org just click find a CK rod. Glad that you got through today. Thanks very much down the line if you need some additional help with that.
Feel free to contact us. I think you know how to reach us and were glad you're there today. Thank you very much the way to reach us on this radio program typically is by calling 800-525-7000 805 five 7000. We have some open line, so now's a great time to call Mrs. moneywise live time Steve Moore will be back with more after this. You probably have a strategy for your finance your career even your entire strategy for your getting national Christian foundation giving your family maximize your resources to learn how to moneywise.org the financial wealth you leave behind could be the best thing that ever happened to your loved ones or the worst in splitting hairs, giving your money and things to your children without ruining their lives. Ron blue explains why it's important to make these decisions now, instead of forcing your heirs to do it later. Splitting hairs will foster a real appreciation for the precious resources that God has entrusted to you, and it's available. Click the start button moneywise love I.org is quick and powerful, and sharper than any two-edged years for clinically for an interesting entire future is incapable of doing everything he is Holly. He is completely estate, word names and it's really that the lexical form of the word for holiness in Scripture means I'm reading lexical the Old Testament to be clean, clean, ceremonially or morally, to consecrate, to guide declare holy treat as holy people or things are set aside and returned to work again exclusively for God exclusively forgot the words what I say unto you today to meet no matter where you work. Please understand you are exclusively not there is no time are we are we are called to report energy compartmentalized from God's workplace.) At position nine been listening to a quick word with Beth Moore writers. Part of this program. Thank you again St. today moneywise live your calls and questions about anything financial remembering of course that where we start is that God owns it all and it's his word, the Bible that we we rely on for all of our wisdom, to the best of our ability know if you calls for something like is is you don't shoot up my new garbage disposal not sure what God's word says about that. Robert is coming off the top of her head.
Anything yeah a big advocate and proponent of garbage disposals. I go see how it how quick it happens around here 800-525-7000. Speaking of quick, we happen to have the backup team with us today. Behind the scenes. Our technical crew Courtney Gabby T Clara and of course Jim Henry really doing yeoman's work today and were honored and blessed to have them pushing all the buttons doing all the faders talking to you when you call 800-525-7000 Brandon, Mississippi hello Sharon, how can we help currently retired or year to the point she referred to learn that when you act and how morning. Kate part insurance down. Well Sharon, you're right you. You gotta count the cost and clearly the mortgage payment is just the beginning of what it takes to actually maintain a home on an annual basis and you rattled off the expenses you would be expected to have, you know I'm not a big fan of home warranties. Just because so often the fine prints undoes what you expected to do, and you have less control over who the people are that are coming in to do the work in your home, and you're at their mercy as to whether or not they decide to try to repair something to replace it. And so what we find is lease Consumer Reports tells us that majority of people are unhappy with those that obviously there are some exceptions.
I'm sure there's many out there listening audience are thrilled with their home warranty. It's just not my favorite approach that might be one you could let go. But you would need in the alternative, to put away some money for maintenance.
The other something called the 1% rule which basically says you should set aside at least 1% of your homes value every year for home maintenance. So $200,000 home you put away $2000 a year you know are $180 a month yell into a savings account specifically for home maintenance outside of your emergency savings because that's because of expected wear and tear on the house that you need to be planning for but I think at the end of the day what you need to do is just take a hard look in total up all of the expenses in that housing category Sharon that you just mentioned and put that alongside the expenses that you'll have in an apartment which clearly will take some off but you'll you still have others.
Of course, utilities are to go in both places and natural gas and those types of things, but you could drop the HOA you could drop you know a lot of the maintenance and in that type of thing and then compare them side to side, side-by-side then I think the only other downside we've got here is that you obviously there's a cost to selling this property so you know if your new into this home and you had the expenses on the transaction going in your getting it hit on the expenses on the transaction going out beginning with Gail probably 6% to a realtor and then other expenses beyond that.
But if it's the right decision for you because it makes more sense. It's less upkeep for you as a single woman and the budget works better.
I wouldn't hesitate. Then you could take any equity you bring out of it and use that to bolster your emergency savings are even invested for your future. So, go back to the budget. Compare them side-by-side and pray through it and if you feel led to go apartment on a problem. Sharon got bless you we wish you the best that you listing to minimize live 805,000 for 30 years. Sound mind investing has been helping Christians reach their financial goals. Step-by-step guidance for investors at every stage from those just getting started, those getting ready for retirement through scriptural principles and practical suggestions. SMI offers financial wisdom for living well. More information in a short you webinar on profit and peace of mind, no matter what's happening in is available at sound mind investing.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 is 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 time trying hard parents and rising for real problems. Most of us are Bible study genius.
That's why Moody is great in the everyday Bible commentary series tantalizing Romans. In Revelation, every common area bringing important historical background insights from the original language help with difficult passages every day. Bible commentaries for people like Mark Moody publishers.com. I need some help. Sometimes I feel like I can't get a handle on my money. I mean, where does it all go. It sounds like you need the money might help you plan your content and track your spending three dollars you spend every morning on coffee every morning and also get access to faint difficult financial advice sounds awesome. Let's do it. Okay, searching for moneywise any abstract you son John Scott Playhouse is voting on the impeachment resolution against Pres. Ron Bendel has the boats to carry through with the impeachment by Mall Senate Majority Leader Mitch McConnell is rejecting a democratic attempt to swiftly call the chamber into emergency session for an impeachment trial of Pres. Trump, a growing number of restaurants nationwide are opening for indoor diving in defiance of strict public 19 regulations in their states saying they are being targeted unfairly and are barely hanging on an organic movement to the fire and indoor diving band began on January 1 and is gaining steam despite warnings from state inspectors similar revolts in Michigan, Pennsylvania, Washington and California socks, closing mixed on Wall Street that fell 8 points. The NASDAQ game 56 and the S&P was up eight. This is SRN news today relies live calls. Well, we just wouldn't have much to say so here we are again 800-525-7000 in a few in-line Jeff Christina and Lida, thank you so much for your patience. How can we help you help your mom and I can't walk very well see in years and she and Manny now about 13 or 14 and I have been getting her money or not help her. Her house is for sale back on the market almost 20 year small town about 90,010, hundred and 20,000 what you gave my sister and my mom but Medicaid but not. See another nursing day rehab nursing care and we don't know what point there's nothing in writing that my sister and I think that the mile nothing right now that I Have written out our in a quandary of what just getting caught prohibited care whether I can kind of forgot to get all my Nine care yeah yeah well I completely understand where you're coming from and know this is so difficult and challenging you know there's some very few few things if anything that prepares you for having aging parents not only financially but emotionally, and all the other things that go with it because we want to honor them. We want to do the right thing and yet we know it's a difficult season, especially if there's real financial constraints. Of course Medicare is the health insurance program doesn't cover nursing home stays. Medicaid is the government program designed to help people in the situation. Your mom is now experiencing while Medicaid facilities are usually not the best in a given area.
I would just do some research to see if there are any that measure up to now.
You also in some states can supplement you know that the Medicaid and so depending on what state your Lessie or in the state of Florida.
You have to check to see but there is an allowance for family supplementation of Medicaid so that way you might have the ability to upgrade to another facility and I think perhaps sitting down with the rest of the family just to you after you've done this research looking at what the options are in your state and you know what assistance can be provided to supplement, therefore, to get her in the very best facility possible making that information available to the entire family letting them know. Here's what it's gonna take to get mom into this type of facility that we can feel good about. And we need to all do our part and perhaps pray going into that meeting that the Lord would just give for the entire family a vision for their role in that and perhaps according to their ability. Each could step up to do their part of the home would be excluded from Medicaid asset so that obviously Lord willing, if that cells that would be helpful in least.
While those assets are available. Do you have a realtor involved in this and have you tried to dig down and why it's not selling down commercial fish can't get a reverse mortgage. She had three or 4 acres and it is not made in a small town like county and state population you think. I'm sorry going well. Just as a youth. Do you think if you're able to lay out the case, having done some research about what the options are with the need is in addition to Medicaid to supplement to the point where she could get into a facility. You could feel good about that. Perhaps some of the other family members would step up and not round the clock care cannot walk.full-time care matter like I believe you're doing everything you can, and I think what we need right now is just the Lord supernatural intervention here to bring unity to the family around the course of treatment. Perhaps think about bringing in no outside your third party whose objective that the siblings don't get a vote on Medicaid unless they have a power of attorney so this is ultimately going to come down to her decision but but let me pray for you here and just asked the Lord to bring some wisdom here and a path forward. Clearly you want to honor her and do what you have to do and yet I realize resources are limited, and so we need the Lord intervene and so were we just call you right now and asked that you'd be in the midst of the situation or that you bring wisdom that you bring clarity would soften hearts, and you would just bring real direction to how to proceed so that the care is provided that for this and this woman in a way that needs to be done so that there are no further complications or health issues. As a result of the lack of care and verbiage go to trust you for supernatural wisdom today. James 15. You said if we lack wisdom, we should ask and you would give it to us and were calling on that today and subordinates tell you today.
We trust you and I we know you love her for more than we do.
And so we just asked for you to guide and direct to mass us in Christ name amen Lida God bless you and your kids and especially your mom and we wish you the very best as you work through this we know your heart is in the right place, so I'll just ask God to intervene thank you very very much. I rub him an email question before we had our next break as well since we've taken one.
Let's see. Our next one is Todd. He says hello guys, my current car is breaking down, and I owe $5600 on the balance I found a used car and it's a really good deal have the money in the bank to pay off the old car should I pay off the old car loan or add it into the new car loan. Well, yeah.
I mean if you got a $5600 outstanding note. Hopefully the car is worth more than the outstanding balance on the notes.
So if you sell it, which I would do private party are going to do the best there. Do your research. Get it cleaned up. Perhaps once over by mechanic make sure it's in good working order and then it try to list it and get as much as you can pay off the note and then put as much down as you can on this next car if you have to borrow because either a it's going to deplete you of the necessary emergency reserves. Make sure whatever you end up with in the payment does fit into your budget and so you want to take a hard look at that. Also, make sure you factor in the cost of insurance and fuel and so forth. But I wouldn't worry about paying off right now. Let's get it sold for as much as you can and use those proceeds to pay this off and then get ready to buy that great used card and if you like to send Rob an email.
I keep it to just a couple of lines. If you want to hear or read in the program just a couple of lines in the new address is questions moneywise.questions at moneywise that I will be back. Say hi to Christina. After this, do you feel like your hands are tied with dad preventing you from serving God. If you have credit card debt. Christian credit counselors can help through our debt management program we can get you out of credit card debt. About 80% faster while honoring your debt info.
For more information on how Christian credit counselors can help visit Christian credit counselors.org Christian credit counselors.org or call 800-557-1985, 800-557-1985, buying a home is the largest most nerve-racking purchase. Most of us ever make. It doesn't help that you're entering a maze of unfamiliar words and confusing options that can leave you intimidated frustrated and afraid. You can take advantage of navigating the mortgage mates by Dale Vermillion help you clear up the confusion on rack your nerves and make the best mortgage decisions possible with confidence navigating the mortgage maze available when you click the start firstname.lastname@example.org. This is very hard right here to help me understand God's purpose for your life to the eyes of a layman, you know, there's nothing in all of human existence that compares with knowing God is orchestrating your life to rescue lives return to the lives that are sated for the amazing experience of being led by the Holy Spirit, doing exactly what God best part about it. That's all for sharing as well explained in the Bible. It's almost impossible to understand until you do it versus Jesus told us in John 1511 when we bear fruit. His jaw remained where this large order rainfall sounds good but it's only when it really happened that you can understand what it means to have filled days every day. Your job is revival outside the walls entered by moving everyone and everything else doing that 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 moody.com you feel stuck. I get tired of going to the motions of faith you want to make real progress in your life and not know where to start to grow as a book to help you grow spiritually help others grow as well to the gospel as a starting point of the Christian life rather than the main point of how to grow book by Darrell – email@example.com that Moody publishers.O RG's finances. That's what we're all about here on moneywise less than more chatting with folks all across the country Illinois Indiana Iowa and right now with the Chicago Christina, thanks for your patience. What's on your mind and find my very thin.
I about both their government and people finding our fund going into the program and are different in Keitel right now playing between XP find and and find 50-50. We had 890 find it, but one of the people at work are told that it would meet better if we had and I'm rather than just keeping it on hundred percent and 90 find so share of well it's a great question Christina, let me start by defining some terms for the benefit of our listeners. You mentioned the TSP that stands for the thrift savings plan is just a retirement savings and investment plan for federal employees and members of the uniformed services so very similar to a 401(k) or 403B or even a 457 just happens to be for government place and then Christina also mentioned the various funds will think of your 401(k) you got mutual fund options within the TSP. They just give them a letter name suit she was in the GM now she's in a mix of CNS. Let's talk about that though Christina what is your age if you don't mind me asking okay and your husband okay got it youngest done almost missed that when that wasn't a trick question, so I totally agree that the G fund is not the place for you.
Why will the G fund is a short-term U.S. Treasury securities. So this is to be a very stable but very low return fund ended 37 and 36 respectively you got a lot of time on your side and see you want this to grow so what about the sea in the ass will to see fund is essentially the S&P 500. The 500 largest domestic US companies and in the S fund would be equivalent to the total stock market index, so the company is not in the S&P 500 so you're basically highly concentrated toward growth stocks and II think that's probably the place for you to be not forever, but at least right now while you've got that I don't know 30 years of growth ahead of you. You have the ability to take a little bit more risk and this is going to perform quite a bit better now.
At some point you could move to more of a balanced type fund so there is other funds that are called their lifestyle funds that you know and have the ability to be more conservative as you get closer and closer to retirement, but I think as long as you understand the risk associated with it.
If we were to get into a recession or the market were to have a significant decline in your portfolio that would go with it. You know, last March, you would've open your statement and you could've been down 35% in one month, and as long as you didn't sell anything or quickly moved to the G fund. It would come right back and gone to all-time highs. But you gotta be prepared for that and be ready to cut a you ride the abs and the flows of a bear market last year it was the quickest whenever in terms of bull to bear and backed the bull typically that'll happen over 18 months or even up to two or three years and so you gotta be willing to weather that storm. But as long as you have at least 10 years. What you got no 10 years, perhaps times two or three then you just stick with it and know that you take a risk, but you know it's a good diversified portfolio not highly concentrated in one or two companies you're in hundreds of companies so you're gonna capture the overall moves of the broad market and so you're gonna see some ups and downs but overall the long-term trend should be up and you'll certainly do quite a bit better over the long haul than than in the G fund. Does it make sense how much are. I got bless you, thank you for calling.
Yeah, thanks, Christina Davenport, Iowa. Jeff, thanks for your patience, my friend. How can we help you hundred million dollars in assets remain about 2000 a year but unfortunately I couldn't get my life insurance because she doesn't make the height and weight ratio on their table and my kid might have on my cell and you are leaving yourself open as far as risking your right. They do have charts to determine requirements for height and waits for prospective policyholders and that's part of the underwriting process.
What I would recommend though Jeff is that they don't all have the same underwriting requirements of just like one might treat one medical condition like high blood pressure, diabetes, different than another day will have different ratios for height and weight so I would recommend you do before you give up on this is yelp go out and find a long-term care insurance agent to really specializes in this area who can take and shop this around among the other long-term care providers. It could be that you end up with two different companies one for you and one for her. That's the best fit that will ensure her to because that's reasonable and give you that piece of mind and protection at the end of the day if it's just not possible. Now, based on height and weight, then you would just want to take that same amount and just gladden socket away every month and invested so you have that down the road. But don't just assume that your company is going to be the same way the others will be available very significantly on these matters. And so it's worth a lot more due diligence Jeff we wish at best and had Jeff had Jeff yeah you welcome. Bless you as you do some research on that. In this case Rob Google is your friend. I would presume you can do a lot of digging that way and get well actually yeah I I would not relent. Google here I would get a long-term care insurance agent there to be able to tell you okay quickly. You know who is the best carrier that has the best rating that's committed to the space but who's going to have the most. Perhaps liberal requirements in this particular area universes, another condition and help him find the right company.
Good point. Thanks very much's Zionsville, Indiana hello Nancy what your question for Rob West will not find out there. Yes, great question, Nancy, and the bottom line is you don't.
But there are some things you can do it because at the end of the day you're trusting the integrity of the organization that's telling you that there's a match in place to actually do that and so one thing I would do. Number one is not be afraid to call the ministry or charity and say what you to tell me about this match is this match conditioned on you getting the funds or have they already agreed to make the gift regardless of whether you get it. Are there any other provisions associated with this and is there still matching dollars available and asked some questions. I think it will become clear.
I think the other thing to do is to look for the X logo, CFA, the Evangelical Council for financial accountability. It doesn't mean that X is necessarily looking for was there a match described and was that then offered, but somebody who goes through the rigor of becoming extra certified like money wise and kingdom advisors has gone through a lot of hoops and take seriously the financial accountability which I think then gives rise to some confidence to say well this is in operation. An organization or a ministry of integrity and therefore I can trust that when they tell me there's a match. There really is something out there and it's not just a ploy to get more money so there's not a way to verify it per se, but doing a little digging looking for extra and calling and asking some questions I think will give you peace of mind as to whether or not there's something really there Rob. Let's see if we can squeeze in one more Kirsten. We know you been holding while we thank you for that and how can we answer your question for you today for an appointment like I have now purchased the home.
About a year and a 30 year mortgage and I had been planning to re-amortize metric finance based on what I had understood think it is likely that before, but recently my mother said something about maybe being refinanced have not looking quite unjust justified at this point I have a 3.5 interest rate on a home valued. I think that I like to think you 20 I have no PMI I had that paid off it and a couple of months out what think you consider ceramic type on Eric need I should consider refinancing at a local drop enough I thought. In October 2020 okay quickly. Workers were better time.
What are you trying to accomplish with the re-amortization are you trying to change the payment what my idea what to put.
I can have that. I know that can completely pay a certain amount on you, but you actually want to re-amortize it.
So the payment goes up and you paid off quicker.
Is that right I was going.
I think it would go down I will continue pain, but more I'm more of it would be going toward the principal yeah yeah right. Okay you know I think the first option is looking for a refi if you can save a point Kirsten and yell you potentially could 375 because rates are 275 and below right now and you plan to stay in this home for at least seven years.
I'd look at that. Tell your still new in this loan. If not you could do a re-amortization so you could help us of the payments repay the accrued interest in full principal by a specific date that you would then provide the key is you want to pay it off as quickly as you can and is less interest as possible. So I think that's probably the next step is to look into whether or not you could get based on your credit score and situation enough of the savings at least 1% to justify the refi. Kirsten Morgan have to say goodbye but I hope this that information helps you.
Thank you very very much moneywise live this program is a partnership between movie radio and moneywise media and course your into her as well. Thanks for listening. Join us again