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April 23, 2021 8:03 am
This is Doug Hastings, VP of Moody radio and were thankful for support from our listeners, and businesses like United faith mortgage. If you go to our mortgage team's website. You'll find hundreds of testimonials of real Christian radio listeners.
We've helped Laura here is a recent friend who was kind enough to share a few words with our local station. Grandma and how married Kelly and Lee found out if they like making out with a sellers market Filing. But anytime we needed her.
She would bear Brad got everything we needed anything after he asked for it and made it work. Steve made sure that if that was the house that our family wanted plea-bargaining at that house their wonderful company and were just really glad that we found them in a contest that they helped us get there and we are in now. My migraines been in our family is so happy we are united states mortgage mortgage is a DBA of United mortgage Corp. 25 Millville Park Rd., Millville, NY license mortgage backer for licensing information, go to an MLS consumer access.org corporate MLS number 1330. Equal housing lender not licensed in Alaska, Hawaii, Georgia, Massachusetts, North Dakota, South Dakota and Utah take a close look at the one dollar bill. More specifically, at the back of the dollar bill holds clues about the founding of the United States that still have meaning today Rob West today on moneywise we discover the dollar bills imagery and symbolism with economist Jerry Boyer is done the homework and you'll be fascinated by what is that it's all your questions at 800-525-7000 800-525-7000. This is moneywise live biblical principles guide our financial all right my good friend economist advising financial lately when not on the FOXBusiness channel writing articles for Townhall.com. He's been staring intently at the dollar bill Jerry welcome back to the program to be with you explain why am staring at dollar bill to explaining all right. It's actually a good time for folks to dig out the dollar bill and look at the back of it. Now I've got mine right here.
Let's get one thing out of the way, we're not talking about secret symbols of the illuminati or the Freemasons right now were not. I'm glad you mentioned that because it's almost possible to have conversations about the actual history of the. The great seal which is what you find on the back of the dollar bill without having that kind of like overnight AM radio lizard people illuminati conspiracy kind of thing like running in the back of our head and the fact is this is an hidden history as they like to call it. This is just history of all historical records from the period of the founding of the United States.
We know why Congress wanted this done. We know who they asked to do it and we know some of the earlier sketches and we know who ended up doing it. We know what he meant because he said what he meant. So what we can kinda leave the queue and on stuff aside for a moment and just do some actual history. Now it's not well known because reading history is hard work but it's not that it's not done unknown, because it's a secret conspiracy yet.
Well that's exactly right.
And I'm glad we establish that on the frontage car. Let's dive in. So to begin with heraldry. What's its significance on the dollar. Well, what you have on the back of the dollar are the two sides of the great seal and their examples of heraldry and and heraldry is a medieval idea in a much of the people understand how very much the founding fathers were influenced by medieval ideas by medieval symbolism, even to the choice of the colors red white and blue, which paralleled some earlier like knights and you knowing that in the era of chivalry, so their patterns are heraldry patterns, which means that you symbolism and there's a kind of a vocabulary that you know in advance and we don't know that because most people don't know anything about heraldry. Although I know few people know their family seal and talk to people about it, but most don't and so we don't know that blue and heraldry symbolizes justice or stars symbolize authority or power or pyramids symbolize perfection. We just don't know that language we you know, we just don't do a lot of that anymore, but the people who did this. Didn't know that language and the Congress asked someone with an expertise in heraldry to basically create these images which symbolize the philosophy of the foundation of the United States. Very helpful right. There's a lot to cover, to move quickly. What's the meaning Jerry behind the pyramid and the great seal of the United States that we see on the back of the dollar bill. Well, there's a lot interesting in the pyramid and one of the most interesting things is that it's a four sided pyramid rather than a three sided pyramid and a four sided pyramid is more stable than a three sided pyramid just like a four sided stalls more stable than a three sided stool harder to knock over so they were saying that they thought that the United States at its foundation had a certain stable foundation down at the very bottom level you haven't's MCC ELM yet you want to add them up a lot of asthma for you dad up to 1776 1776. Yes, meaning the Declaration of Independence, so they're saying the nation was founded on certain principles, those principles are summarized in the Declaration of Independence.
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights among which are life, liberty and pursuit of happiness, and that is the foundation of the American Republic history lesson with Jerry Boyer today looking at the dollar bill. If you haven't got.
Here's how you do that now were to pause for a brief break. This is moneywise live where biblical wisdom meets today's financial decisions. Welcome back to moneywise live on Rob West, Jerry Boyer, my guest today. Jerry is an economist and a frequent contributor on FOXBusiness channel and you'll find is writing it Townhall.com today were talking about the dollar bill he's giving us a bit of a history lesson about the founding of the United States and all the imagery and what we can learn from the back of the dollar bill.
If you haven't gotten your dollar bill out yet do that now. Jerry just before the break you were talking about the pyramid. The four sided pyramid that talked about the stability. It also has some references to the Constitution as well.
There's a Latin phrase that we see on the back of the dollar bill Novo's ordo secular law room. What is that me that means new order of the ages, which is not the same thing as new world order. So let's just turn down our overnight AM radio conspiracy voice for a moment, knew what the idea of a new world order something that comes much later. This is almost the opposite of that vision. So what is the idea of new world order of the world are new order of the ages and the idea is that all the other nations before. With the exception of Israel were founded on ethnicity or founded on conquest, or both. So you're a certain race and that's your nation or your you conquer others and that gives you a nation this nation was built on ideas and the founding fathers thought and I think the correct thing so that this had never been done before in the history of the world where there was an opportunity to build a nation and start with principles rather than start with race or conquest, or just history or tradition.
So that's what new order of the ages means like that you're very helpful. Jerry we were talking about the pyramid. This four sided pyramid which you said was very intentional but we noticed something about the pyramid. It's incomplete. Why is that because the nation was incomplete because the founding fathers for all the attacks on them about know their blind spots regarding slavery and the rights of women, etc. they knew they were falling short. There's a lot of Christian influence there. I'm a Christian I'm supposed to be founded on Jesus but I fall short.
My pyramid is not complete. The main thing is that when you fall short. You say it and you try to amend your ways. The founding fathers knew that the pyramid was incomplete in that the these these inalienable rights had not been granted to everyone yet so that's why the pyramid doesn't have a top. It's still being built and above it. There is and I which is in a triangle and that triangle is complete. That triangle is perfect and that represents God now. Sometimes Masons use the seeing eye of God but they don't use it with the triangle.
So this is not Masonic imagery and so the eye of God who is perfect is looking down at America, which is imperfect to see what is going to do yet. What are we going to finish out this project and evaluating us fascinating. The all seeing gets a lot of attention. Obviously we got light beams in the great seal as well. Anything else you want to say about the in the light beams while the light beams almost always represent God inherent Street right, there's lot or divinity. Sometimes you get halos coming out of Saints and in this case, you have the glory cloud of God and above you have a another Latin phrase and await crepitus. He who will God receive his eye has smiled on our beginnings. In other words the same idea is God looking down and saying this is a good beginning, that all men are created equal. Now I'm going to see whether you're going to grow into full adherence to the principles that you have built this new order of the ages on Jerry.
It's amazing that as we walk around town with dollar bills in our pockets were walking around town with not only a history lesson but a Bible lesson about a creator God and no one really knows that today they don't and it's really fascinating.
You know that Congress basically gave the Dopp job of this to John Adams, Benjamin Franklin and Thomas Jefferson.
They couldn't agree on which great seal to do.
I let my favorite is meant Franklin who wanted to do something from the book of Exodus so much for Franklin you're not being biblically influenced but they couldn't agree. And they didn't know heraldry, so it was given to someone name Elias B. Today more Buddha named and he, people forget him.
He was a Christian apologist. He wrote a book called the age of Revelation to repot Thomas Paine's atheistic age of reason George Washington wanted Buddha nature write a reputation of the atheist views of pain and pain is remembered as a founder when the founders were actually hostile to his atheism. But the man who wrote an apologetics book. In response, is the one who gave us this basic symbolic representation of what I would call a Christian-based theology of the nationstate fascinating during what about the other side of the COB Eagle very foreign policy oriented and so you have the Eagle government is a lot going on here e pluribus unum from many, one. What we can sure use that now from many watt for many ethnicities, different states or associated with different ethnicities, German or Irish, etc. one of the things that's really interesting about this is this more biblical symbolism in that the Eagle is holding all of branches which is obviously a typical symbol on us starting off with the up with the flood narrative is nowhere else but notice if you look closely, the Eagle is facing towards the olive branches, not towards the arrows, which is a way of saying that America's default position should be peace and only turned to war in defense when it's necessary. That's another lesson I think that modern America has missed out on and become maybe sometimes a little bit more given to military intervention that isn't defense, necessarily, but trying to change the world or build glory or build legacy and this is saying no, we should be a peaceloving nation. Above all, following the lesson of the of the book of Genesis and Noah and the olive tree symbolism fascinating that Jerry we have just a minute or so left tell us as we wrap up today. The connection behind the symbology of the dollar bill freedom and America's vast economic growth compared to other nations. While I think that we had an experiment in the experiment as a nation built this way and the nation built this way was able to leapfrog over the whole rest of human civilization in terms of the human flourishing in the standard of living is just mean stuff, I don't mean plasma TVs. I mean, plunging infant mortality rates and longer life span more flourishing and I look at the dollar and I wonder why has the dollar become the reserve currency of the world, even without a legal mandate.
Why do people trust why historically has the world trusted the dollar to maintain value more than any other currency and I would say the answer is actually on the dollar itself. If you believe there are there are inherently true things and that they involve the protection of property, the nation built that way will not debase itself will not base its currency for its own purposes. Now of course we departed from that, you know, in modern times, but the dollar itself should be a reminder to us of what's of the importance of sound currency, private property, rule of law and the inherent dignity of all human beings, which are all interrelated ideas, while fascinating insights on the dollar bill Jerry, thanks for stopping by. Thanks for the history lesson, my friend. Thanks for the opportunity to tell it our Jerry Boyer, chief economist invited financial has been our guest today. You'll find his email@example.com get your kids to sit down and listen to a replay of this later today your cause or next. 800-525-7000 businesses moneywise live for biblical principle guide our financial decision letter back to moneywise live Rob West along with us today.
Got some phone lines open.
Would love to hear from you. 525-7000 number 800-525-7000. We will apply God's word to what ever you're dealing with in your financial life today. Whether it's giving your dad to investing, perhaps you're trying to navigate this crazy housing market were thinking about refinancing your mortgage. Whatever it might be would love to tackle today.
Again, the number 800-525-7000 so thankful to have Jerry stop by today was not fascinating. I could listen to Jerry teach on history, especially as it relates to money in today's topic. The dollar bill. I could listen for hours. I think it's just so interesting. Our Facebook question today was what would you like to learn about the symbols on the US currency and Ed said I'd love to know who determines what Pres. and symbols actually go on money and Ed, the answer actually is the secretary of the treasury is responsible for selecting whose images are found on US bills and coins. And although bills frequently are redesigned for primarily security purposes, the famous faces on them have remained the same since 1929.
That's when the special treasury committee selected them due to their quote permanent familiarity in the minds of the public.
According to the Treasury Department so the Treasury Department and more specifically, the secretary of the treasury is responsible for selecting those in it is fascinating stuff. Are I were to take your calls today as we begin to die then were to start in Ohio with Marion and Mary, what's on your mind today I'm going to take my call, and determine whether it makes chance for me to read my column and 60,000 working full time. I have account multifamily house.
I live on one side and I am anchored on the other currently have a 40% and 18 years to pay off MY FIRST PLACE THAT I TRY I MEAN IT EVERYWHERE BUT THEY ARE WINDING ANY 83 AND HALF PERCENT FIXED RATE 30 YEARS, THE CLOSING COSTS.
I'LL GET $3500 OUT FOR ME. I DON'T HAVE ANY CREDIT CARD DEBT, BUT IT GET 3500 OUT, BUT WITH ALL THE CLOSING COSTS BATMAN FAD ADDITIONAL $10,000 THAT COMES THAT I WOULD BE REFINANCING HUNDRED AND 75, 30 YEARS.
THAT MAKES SENSE AND YOU SAY YOUR BALANCES TODAY, 164 OKAY YEAH YOU KNOW I'M NOT A BIG SIN OF THAT FOR A COUPLE REASONS. NUMBER ONE IS LIKELY TO SAVE AT LEAST A POINT IN THE INTEREST YOU'VE DONE THAT, I'D PREFER FOR YOU TO SAVE A POINT AND 1/2 AND I REALIZE BECAUSE YOU'RE FINANCING THIS DUPLEXING THAT INCLUDES NOT ONLY THE PORTION THAT YOU'RE IN A BUT ALSO THE RENTAL PORTION YOU MAY NOT BE ABLE TO GET THE MOST ATTRACTIVE RATES OUT THERE, BUT I'D STILL LOVE FOR YOU TO SHOUT THIS AROUND AND SEE IF YOU CAN'T COME UP WITH SOMETHING THAT WOULD GET YOU AROUND 3% SO YOU COULD SAVE A POINT HALF. I'D ALSO LIKE FOR YOU TO LOOK AT A 20 YEAR MORTGAGE INSTEAD OF THE 30 EVEN THOUGH THAT WOULD ADD TWO YEARS TO THE 18 YOU HAVE REMAINING. YOU COULD GET THEM TO RUN THE AMORTIZATION SCHEDULE TO TELL YOU WHAT YOU NEED TO SEND EVERY MONTH TO MAKE IT AN 18 YEAR PAYOFF UP WITH THAT POINT AND 1/2 IN THE INTEREST SAVINGS THAT'S CAN BE KEY A MINUTE. I REALLY WANT YOU TO COMMIT TO THE TO THE BEST OF YOUR ABILITY. STAYING IN THIS HOME FOR AT LEAST 5 TO 7 YEARS. IF YOU DON'T THINK YOU CAN MAKE THAT COMMITMENT. I WOULD BE A DISQUALIFIER FOR ME. BEYOND THAT, YOU YOU WANT TO LOOK REALLY HARD AT THE CLOSING COSTS OF 168,000 YOU, I'D LIKE FOR YOU TO TRY TO KEEP THAT 2% WHICH WOULD BE AROUND $3500 NOT 10,000.
SO I SUSPECT WHAT THEY'RE DOING IS THERE EVEN YOU HIGHER INTEREST RATE BUT THEN PUTTING POLITICAL DISCOUNT POINTS IN THEIR IN ADDITION TO WHATEVER LOAN ORIGINATION AND APPRAISAL AND DOCK FEES AND GET ALL THE OTHER THINGS THAT THEY HAVE IN THEIR THERE ADDING SOME DISCOUNT POINTS FOR YOU TO BUY THAT RATE DOWN AND YOU KNOW IT COULD BE AGAIN BECAUSE OF THE DUPLEX, YOU'RE NOT GONNA FIND THE VERY BEST RATES BUT I WOULD WANT TO MAKE SURE THAT YOUR CLOSING COSTS AROUND THAT 2% NUMBER 3% AT THE MOST AND I WANT TO MAKE SURE YOU'RE SAVING AT LEAST APPOINT AN INTEREST WHICH YOU SHOULD BE ABLE TO DO, AND I'D LIKE FOR YOU TO GO FOR THAT 20 YEAR LOAN. IF YOU CAN'T FIND THOSE THINGS I'D PROBABLY STICK WITH WHAT YOU GOT BUT DON'T GIVE UP. I'D PROBABLY DO A LITTLE BIT MORE SHOPPING PERHAPS LOOK AT SOME OF THE ONLINE LENDERS BANK RATE.COM IS A GREAT WEBSITE THAT MARY AND FOR YOU TO LOOK AND SEE WHO HAS THE BEST PROGRAMS RIGHT NOW, DEPENDING UPON HOW MUCH THEY HAVE THE LANDON GET A COMPANY HOW HUNGRY THEY ARE FOR THE BUSINESS VERY VARIOUS ONLINE BANKS WILL KNOW HAVE BETTER PROGRAMS THAN OTHERS AT ANY GIVEN TIME, AND SO USE NOT ONE LENDER TO GO TO. IT REALLY IS JUST A MATTER OF THE TYPE OF LOAN YOU'RE LOOKING FOR WHO'S GOING TO GIVE YOU THE VERY BEST RATED I'D ALWAYS GET AT LEAST THREE QUOTES BEFORE YOU MAKE YOUR FINAL DECISION IS THAT HELPFUL TO VERY HELPFUL. I LIKE IT. I REALLY THINK THAT THERE FIVE YEARS, YOU WOULD SAY NO, NO, NO MATTER I WOULD SIMPLY BECAUSE WELL I'M YOU'RE GONNA NEED TO RUN THE NUMBERS. THIS IS PROBABLY NOT GOOD TO BE WORTH THE HASSLE BECAUSE AMOUNT OF TIME IT'S GOING TO TAKE FOR YOU IN THE FORM OF REDUCED INTEREST TO REPAY THE CLOSING COSTS THAT YOU HAVE ON ANY LOAN YOU'VE GOT A GO STAY IN THE HOME LONG ENOUGH FOR IT TO MAKE SENSE FOR YOU TO ACTUALLY REPAY THOSE CLOSING COSTS AND GET KINDA QUOTE IN THE MONEY SO THAT YOU'RE ACTUALLY REALIZING SOME SAVINGS AND IF YOU SELL IT TOO QUICKLY, YOU PROBABLY BARELY IF EVEN THAT ALL HAVEN'T PAID OFF THE CLOSING COSTS YET.
AND AT THAT POINT. IT'S JUST A BIG HASSLE.
THAT REALLY DIDN'T ACCOMPLISH ANYTHING.
SO THAT'S WHAT I'D REALLY LIKE FOR YOU TO STAY IN THAT HOME FIVE YEARS.
IT'S REALLY A MATH EQUATION, YOU CAN RUN YOURSELF. ONCE YOU KNOW WHAT LOAN PROGRAM IS THE VERY BEST OFFER. YOU CAN DETERMINE.
OKAY, HOW MANY MONTHS IS IT GOING TO TAKE ME TO PAY OFF THESE EXPENSES ASSOCIATED WITH FINANCING AND YOU KNOW THAT'LL BE YOUR BREAKEVEN POINT AND THEN FROM THAT POINT FORWARD. HOPEFULLY THAT'S HELPFUL TO YOU HEAD OVER TO BANK RATE.COM.
LET'S GET A FEW MORE OFFERS MARION AND SEE WHAT YOU CAN FIND SOMETHING TO COME UP AND MAKE SOME SENSE. JUST PRAY ABOUT IT FOLKS. THANKS FOR STOPPING BY TODAY WITH A FEW LINES OPEN 800-525-7000 BACK WE'LL TALK ABOUT HOW YOU HANDLE AN INHERITANCE. ALSO, WHEN WITH FIREMAN'S AROUND THE 401(K) THAT ARE MUCH MORE MONEY WAS FLYING THE 23 VERSE IS FOUND IN GOD'S WORD.
YOUR FINANCIAL DECISION.
THIS IS MONEY WAS LIVE ON BROWN WAS SO THRILLED THAT YOUR ALONG WITH US TODAY WERE GETTING CLOSE TO A BE A MILESTONE AS AN ARCHED JUST SEVEN MONTHS AGO AFTER MORE THAN A YEAR AND 1/2 OF DEVELOPMENT WITH A TEAM OF DEVELOPERS BUILDING WHAT I BELIEVE IS THE VERY BEST DIGITAL ENVELOPE SYSTEM ON THE MARKET.
I COULDN'T FIND WHAT I WAS LOOKING FOR. SO WE SAID YOU KNOW WHAT WORKING TO BUILD IT OURSELVES, AND WE DID AND I THINK IT'S THE BEST ONE OUT THERE.
IN ADDITION TO THE DIGITAL ENVELOPE SYSTEM. WE HAVE OUR COMMUNITY AND THERE WERE. YOU CAN ASK QUESTIONS AND OR COACHES ARE RESPONDING TO THEM ALSO ARE DISCOVERED TAB WERE THE VERY BEST CONTENT FROM THE LEADING VOICES IN CHRISTIAN FINANCE WITH PODCASTS AND ARTICLES AND VIDEOS ALL FLOW AND IN ONE PLACE. THAT PLUS THE CK SEARCH. IT'S ALL IN THE MONEYWISE APP WHICH IS A FREE DOWNLOAD NOW THAT MILESTONE 10,000 USERS. THAT'S RIGHT WERE ABOUT TO CROSS USER NUMBER 10,000 AND IF YOU'RE THE 10,000 USER ORGAN TO GIVE YOU ONE YEAR SUBSCRIPTION TO THE MONEYWISE APP PRO AND SO GO DOWNLOAD IT TODAY. IT'S A FREE DOWNLOAD. YOU FIND IT IN YOUR APP STORE. EITHER THE GOOGLE PLAY STORE THE APPLE APP STORE.
HERE'S WHAT YOU WANT TO SEARCH FOR MONEYWISE. GOOGLE FINANCE AND YOU CAN DOWNLOAD IT TODAY AND LET'S GO BACK TO THE PHONES NEXT UP ST. PETER ILLINOIS WARREN IS THERE AND THAT WE APPRECIATE YOUR CALL TODAY. WARM WHAT'S ON YOUR MIND. WELL FIRST OFF, I JUST WANT TO THANK YOU, I LISTEN TO YOU. WELL NOT EVERY DAY BUT AS OFTEN AS I CAN AND I REALLY APPRECIATE ALL THE GODLY BIBLICAL ADVICE ON MONEY AND HOW TO HANDLE FINANCES AND I REALLY APPRECIATE THAT AND THAT'S ONE OF THE REASONS OR MY CALL THE DAY I NEED SOME GODLY PERSPECTIVES ON WHAT TO DO WITH THE INHERITANCE THAT I'M GOING TO BE RECEIVING FROM MY DECEASED FATHER'S ESTATE. HE PASSED AWAY BACK IN AUGUST OF LAST YEAR AND I WAS NAMED THE EXECUTOR OF HIS ESTATE AND I'M GONNA HAVE A MEETING WITH MY LAWYER NEXT WEEK AND WERE GOING TO FINALIZE AND WRAP THIS AND THE INHERITANCE IS GOING TO BE DIVIDED IN HALF BETWEEN MY SISTER AND I AND IT'S GOING TO BE SOMEWHERE IN THE NEIGHBORHOOD OF A LITTLE BIT OVER APPROXIMATELY $220,000 MAY BE JUST A LITTLE BIT MORE THAN THAT, BUT THAT'S THE BALLPARK FIGURE AND ANY WAY I OWE ABOUT. I THINK IT'S LIKE $62,000 ON MY MORTGAGE YET AND I NEED TO KNOW I NEED TO PAY THAT OFF OR CONTINUE TO MAKE PAYMENTS SO THAT I CAN DEDUCT THAT INTEREST FOR TAX PURPOSES. I JUST WANT TO MAKE SURE I INVEST IF I SHOULD DO IT IN THE STOCK MARKET ARE OR WHAT I SHOULD DO BECAUSE I'M GOING ON 59 YEARS OLD AND IF GOD BLESSES ME WITH 20 OR 30 MORE YEARS OF LIFE I WANT TO BE ABLE TO PROVIDE NEEDS FOR MY FAMILY ON UNABLE TO WORK RIGHT NOW BECAUSE I HAD TO ISSUE WHAT CATARACTS AND GLAUCOMA ON MY IN IT RENDERED ME ALMOST BLIND IN MY RIGHT.
I SO LIKE I USED TO DRIVE A SEMI TRUCK AND I'M UNABLE TO KNEW THAT RIGHT NOW SO I'M NOT WORKING IS VERY GOOD. WELL, I REALLY APPRECIATE YOUR CALL TODAY. THANK YOU FOR YOUR KIND REMARKS ABOUT THE PROGRAM AND I THINK THIS IS THE RIGHT QUESTION ASKING AS YOU THINK ABOUT THE RESOURCES THAT GOD IS INTERESTING TO YOU BY WAY OF THIS INHERITANCE. YOU WANT TO MAKE A WISE DECISION. YOU WANT TO BE FOUND FAITHFUL WITH GOD'S MONEY, APPLYING HIS PRINCIPLES TO YOUR FINANCIAL DECISIONS AND TRYING TO MOVE FORWARD WITH PEACE OF MIND AND CONFIDENCE KNOWING YOUR HANDLING GOD'S MONEY APPROPRIATELY. YOU MENTIONED YOU HAVE ABOUT 62,000 REMAINING ON YOUR MORTGAGE OR 59 YEARS OLD, NOT WORKING CURRENTLY. PERHAPS THAT COULD CHANGE. LORD WILLING DOWN THE ROAD ABOUT WHAT YOU SAY YOU WOULD EXPECT TO SEE RECEIVE YOUR PORTION OF THE INHERITANCE WORN FOR MY BABY JUST LOOKED ABOUT MAYBE $221,000 APPROXIMATELY AND THEN TOTAL AMOUNT IS 442,000 AND SOMETHING IN THE ESTATE ACCOUNT AND THAT GETS DIVIDED. OKAY, I GIVE ANY OTHER DEBT OTHER THAN THE HOME MORTGAGE NOTE THAT IS THAT OTHER THAN MY WIFE'S CREDIT CARD BUT WE ARE WORKING ON PAYING IT OFF. I PAID A GOOD SUBSTANTIAL AMOUNT. AND EVERY TIME SHE USES THAT WAY BEEN TRYING TO PAY THE MONTHLY CHARGES PLUS A LITTLE BIT MORE THAN THAT TO WHITTLE AWAY ON THAT BUT THAT IS THE ONLY TWO DEBTS THAT WE HAVE OKAY VERY GOOD AND WHAT ABOUT OTHER ASSETS EITHER EMERGENCY FUND SAVINGS AND OR ANY OTHER RETIREMENT NEST EGGS WELL ALL I HAVE A JUST THOUSAND DOLLARS AND A YEAR SAVINGS ACCOUNT IN OUR LOCAL BANK AND THAT THE ONLY NEST EGG I HAVE RIGHT NOW BECAUSE FOR MANY MANY YEARS. I WAS VERY VERY BAD AT MANAGING MONEY.
I WAS A PRACTICING ALCOHOLIC.
AND NOW I AM AND I SQUANDERED LOTS OF MONEY AND THAT BY THE GRACE OF GOD FOUND AA AND I'VE BEEN SOBER FOR LITTLE OVER FOUR YEARS NOW AND SO THAT'S WHY I'M TRYING TO DO THINGS GOD'S WAY INSTEAD OF MY WAY DELIGHTED TO HEAR THAT WARREN TELL YOU WE CAN LAY ALL OF THAT AT THE FOOT OF THE CROSS AND THE JESUS WATCHES OUR SINS CLEAN AND WE CAN PURPOSE OUR LIVES TO PURSUE HIM WITH EVERYTHING THAT WE HAVE IN THE AMONG THE BODY OF CHRIST AND DILIGENT IN STUDYING HIS WORD AND GROWING OUR RELATIONSHIP WITH HIM, AND OVERCOME EVEN THE STRONGHOLD OF ADDICTION AND I'M DELIGHTED TO HEAR YOU SAY THAT YOU BEEN ABLE TO DO THAT IF YOU WERE TO TAKE THIS MONEY AND INVESTED.
LET'S SAY BETWEEN NOW AND RETIREMENT. HERE'S WHAT I WOULD LOVE TO SEE ONE OF TWO THINGS EITHER. IF YOU HAVE A LOW INTEREST RATE. LET'S SAY YOU KNOW SOMETHING LESS THAN 4% AND YOU WOULD BE COMFORTABLE PUTTING THIS MONEY TO WORK SUCH THAT YOU KNOW YOU COULD HAVE THIS MORTGAGE PAID OFF BY THE TIME YOU FULLY RETIRE BUT GET THIS 221,000 WORKING FOR YOU SO YOU CAN BEGIN TO GROW IT AND HAVE A NEST EGG THAT SOMETHING LARGER THAN THAT AMOUNT OUT WHEN YOU REACH RETIREMENT SO THAT YOU COULD USE THAT TO CONVERT IT TO AN INCOME STREAM TO SUPPLEMENT RETIREMENT AND IF YOU'RE LIVING YOUR EXCUSE ME, SOCIAL SECURITY, AND IF YOU'RE LIVING MODESTLY, YOU KNOW PERHAPS THAT COVERS YOUR BILLS YOU WOULD YOU KNOW KEEP THE PRINCIPAL INTACT DRAWN INCOME OFF OF THAT. YOU KNOW WHATEVER THAT 221,000 GROWS TO OVER THE NEXT IN A LET'S SAY 5 TO 10 YEARS BETWEEN NOW AND WHEN YOU HIT THAT SEASON.
THAT WOULD BE OPTION ONE, BUT I THINK THE COUNTERPOINT TO THAT IS TO SAY YOU KNOW IF BECAUSE OF YOUR HEALTH SITUATION IF YOU DON'T THINK YOU'RE GOING TO BE WORKING AND THEREFORE HAVE THE MONEY TO BE PUTTING AWAY.
IN ADDITION TO THIS, AND YOU WOULD NEED THEN TO TAKE A VERY CONSERVATIVE POSTURE WITH THE INVESTMENTS BECAUSE YOU'RE GONNA NEED IT.
YOU KNOW IN FIVE YEARS OR LESS AND YOU KNOW YOU DON'T HAVE A WHOLE LOT ELSE TO FALL BACK ON THIS DON'T REALLY ANYTHING TO SPEAK OF.
THEN I THINK THE TRADE-OFF IS, IS NOT AS GREAT IN FACT I LIKE THE IDEA OF YOU PAYING OFF THAT MORTGAGE BETTER IN THAT SCENARIO BECAUSE YOU GET THE PEACE OF MIND.
YOU GET THE SECURITY AND YOU KNOW YOU'RE GUARANTEEING THE RETURN EQUIVALENT TO WHATEVER THAT INTEREST RATE IS TODAY, SO I THINK FROM THAT STANDPOINT. THAT'S THE DIRECTION I'D GO ONCE YOU PAY IT OFF. YOU STILL GOT $160,000 TO PUT TO WORK AND WITH THAT I WOULD CONNECT WITH A CERTIFIED KINGDOM ADVISOR THERE IN ST. PETER, ILLINOIS AND SEE IF THEY CAN DEVELOP AN INVESTMENT STRATEGY FOR SOLICITING THIS.
I WANT TO TALK A BIT MORE WITH YOUR FEAR AND PRAY WITH YOU, YOU HOLD THE LINE. THIS IS MONEYWISE LOT BECAUSE WE COME BACK MORE QUESTIONS TO MONEYWISE LIVE WELL AND HAD A CHANCE TO CHAT WITH WARREN OFF THE YEARS SLOWLY JUST CLOSE THAT STORY LOOP FOR YOU IF YOU WILL. WE DECIDED YOU KNOW WHAT IT PROBABLY MAKES THE MOST SENSE FOR HIM TO GO AND PAY OFF THAT MORTGAGE SO HE'S AT SOME HEALTH CHALLENGES HE DOESN'T HAVE ANYTHING SAVED UP BUT HE'S RE-COMMITTED HIS LIFE TO CHRIST HE WANTS TO HANDLE MONEY GOD'S WAY AND SO, GIVEN HIS POSITION IN THE FACT THAT HE WOULD HAVE TO BE VERY CONSERVATIVE WITH THAT INHERITANCE, WHICH REALLY WOULDN'T PRODUCE A WHOLE LOT MORE THAN THE SAVINGS HE'S GONNA REALIZE BY PAYING OFF THAT MORTGAGE AND BY THE WAY THAT'S GUARANTEED SAVINGS THAT MAKES THE MOST SENSE, WHICH IS ALSO GOING TO FREE UP A BIT TO THE FIRM'S BUDGET EVERY MONTH THAT HE CAN PUT INTO SAVINGS SO HE'S GOT A PAYOUT THAT MORTGAGE INVESTOR HUNDRED AND 60,000 AND TRY TO SAVE AS MUCH AS HE CAN. MOVING FORWARD, AND SO THANKFUL TO BE ABLE TO CHAT WITH WARREN TODAY. SORRY. LET'S GO BACK TO THE PHONES AND WELCOME CINDY TO THE BROADCAST IN COEUR D'ALENE, IDAHO. CINDY WHAT'S ON YOUR MIND TODAY HELLO I LOVE YOUR PROGRAM ABOUT A YEAR AGO MY HUSBAND RETIRED AND HE HAD 4141K FROM THE EMPLOYER AND IT JUST I AM JUST WONDERING, CAN WE STAY IN THAT 401(K) OR DO WE HAVE TO PUT IT IN ANOTHER QUALIFIED FUND LIKE IRAQ OR SOMETHING.
OR CARL AND CAGES CAN KEEP WRITING. WE DON'T NEED IT TO LIVE ON SITE.
WE PROBABLY WOULD NEED THAT AND KEEP IT GROWING. THIS VERY GOODWILL. THAT'S A GREAT QUESTION CINDY, LET ME ASK YOU HOW MUCH OF YOU ACCUMULATED IN THAT ROUGHLY 95 OKAY AND HAVE YOU BEEN HAPPY WITH THE DO YOU FEEL LIKE IT'S INVESTED APPROPRIATELY. MEETING IS IT THAT CONSERVATIVE ENOUGH, GIVEN THAT YOU'RE NOW MOVING INTO A RETIREMENT SEASON OR IS IT ALL IN'S THE STOCK MUTUAL FUND WHICH IS BEEN DOING WELL, BUT IF IT YOU KNOW WE GOT INTO SOME HARDER TIMES ECONOMICALLY. YOU KNOW, IT MIGHT TAKE A BEATING. DO YOU HAVE A SENSE OF THAT. I THINK IT RIGHT NOW. OKAY QUERIES ON I GUESS I DON'T KNOW WHETHER THAT'S A GOOD MIX. MAYBE WE SHOULD GO MORE INTO THE BOX. I DON'T KNOW THAT GETS YOU GREAT LATELY WITHOUT THAT MARKET GOT LIKE A 12% RETURN VENT COUNTS RIGHT YES 70% IN STOCKS AS YOU HEAD INTO RETIREMENT. EVEN THOUGH YOU DON'T NEED IT RIGHT NOW BY THE GRACE OF GOD, YOUR BILLS ARE COVERED. THAT'S PHENOMENAL. BUT WHAT WE WANT TO RECOGNIZE AS WE WANT THIS MONEY.
THE LAST NOW IF THE LORD TERRY'S AND YOU AND YOUR HUSBAND ARE IN GOOD HEALTH. YOU KNOW YOU COULD NEED THIS MONEY THE LAST SEVERAL DECADES, RIGHT. YOUR PEOPLE ARE LIVING LONGER AND SO WE WANT THIS MONEY TO BE AROUND FOR LONG, LONG TIME, WHICH MEANS WE WANT TO HAVE SOME GROWTH COMPONENT TO IT, BUT 70% IN STOCKS. AS YOU'RE HEADING INTO RETIREMENT WITH A NEST EGG OF YOU MAY BE JUST AROUND $100,000 IS A BIT MUCH. YOU COULD SEE A 25% DECLINE IF WE GOT INTO A REAL RECESSION AND THE MARKET WAS DOWN SIGNIFICANTLY SO YOU CAN OPEN YOUR STATEMENT. ONE DAY INSTEAD OF 95 YOU COULD ALL OF A SUDDEN HAVE YOU KNOW $73,000 IN KNOW THAT WOULD I'M SURE BE CONCERNING TO YOU.
SO I THINK FROM THAT STANDPOINT, YOU'RE GONNA WANT TO MOVE MORE HEAVILY TOWARD THE FIXED INCOME SIDE IN TERMS OF LEAVING IT THERE. YES, YOU PROBABLY CAN. MOST COMPANIES WILL ALLOW YOU TO LEAVE A 401(K) THERE WHEN YOU SEPARATE FROM THE COMPANY, BUT I LIKE THE IDEA OF ROLLING IT TO AN IRA. YOU CAN OPEN UP MANY MORE INVESTMENT OPTIONS AT THAT POINT AND YOU'LL HAVE MORE CONTROL OVER THE FEES AND EXPENSES, BUT I WOULD ENCOURAGE YOU TO FIND AN INVESTMENT AND FINANCIAL PLANNING PROFESSIONAL TO HELP YOU MANAGE THIS MONEY SO YOU'RE NOT GONNA PUTTING IT ON AUTOPILOT OR TRY TO MAKE THOSE DECISIONS YOURSELF IS A LOT OF MONEY SPENT A LONG TIME BUILDING IT UP SO HAVING A PROFESSIONAL WALK ALONGSIDE YOU AND HELPING YOU ADDRESS ANYTHING ELSE FINANCIALLY AND WHETHER OR NOT YOU NEED LONG-TERM CARE AND YOU STILL HAVE SOME LIFE INSURANCE AND IS THAT NECESSARY AND JUST, LOOKING AT ALL THOSE ISSUES AS YOUR ESTATE IN ORDER IN OUR WILLS UPDATED AND DO YOU HAVE HEALTHCARE SURROGATES.
THOSE TYPES OF THINGS.
THAT'S WHERE PROFESSIONAL COULD REALLY BE HELPFUL AS YOU THINK ABOUT THE TRANSITIONS THAT ARE STILL TO COME, WHERE MONIES CAN BE IN MOTION. SO I WOULD CONNECT WITH A COUPLE OF CERTIFIED KINGDOM ADVISORS THERE IN IDAHO.
JUST GO TO OUR WEBSITE MONEYWISE LIVE.ORG CLICK FIND A CK AND I'D INTERVIEWED TWO OR THREE. AS YOU WILL HAVE TIME DECIDE WHO'S THE BEST FIT. ONCE YOU DO, THEN YOU WOULD JUST MOVE THAT 401(K) OVER TO AN IRA WITH THE INSTITUTION THAT THAT INVESTMENT PROFESSIONAL WORKS THROUGH AND THEN THEY WOULD MANAGE THAT, BASED ON YOUR GOALS AND OBJECTIVES. NOT SOMETHING THAT THEY COME UP WITH ON THEIR OWN SO THAT WOULD BE MY BEST ADVICE, BUT IN THE MEANTIME YOU CAN LEAVE IT RIGHT THERE. I PROBABLY WOULD MOVE IT TO A MORE CONSERVATIVE PORTFOLIO THE WHILE YOU'RE MAKING SOME OF THESE DECISIONS, WE JUST TALKED ABOUT. WE APPRECIATE YOUR CALL TODAY VERY MUCH BUT LET'S HEAD TO CHICAGO, ILLINOIS YOUR NEXT ON THE PROGRAM, GO RIGHT AHEAD. HELLO THIS IS SHIRLEY HI SHIRLEY, I'M GLAD I GET TO TALK TO YOU ABOUT A WEEK OR MAYBE A LITTLE 10 DAYS OR SO AGO AND THE PROGRAM YOU WERE TALKING TO SOMEONE WHO YOU. YOU SUGGESTED OTHER INVESTMENT OPPORTUNITIES OTHER THAN JUST CDS WHICH ARE NOT PERFORMING VERY WELL RIGHT NOW AND I'M IN THAT POSITION WHERE GETTING LESS THEN 1% ARE SOMETIMES MOST OF THE TIMELESS THAN 1/2 A PERCENT JUST AS MARY MAKES ME NERVOUS. I'M I'M IN MY EARLY 80S. I'M A WIDOW. MY HOME IS PAID FOR IT HAS BEEN FOR A LONG TIME AND I DO HAVE SOCIAL SECURITY BUT I USE THE PORTION I HAVE.
I AM REQUIRED TO WITHDRAW EVERY YEAR. I USUALLY PUT SOME OF THAT IN CD FOR SIX MONTHS AND THEN I SPEND THE OTHER PORTION OF IT AND I'M JUST WONDERING IF YOU COULD TELL ME AGAIN, A BETTER PLACE TO INVEST IN CD YEAH WELL THE CHALLENGES THAT YOU HAVE IS REALLY NOT A LOT OF THE GREAT OPTIONS IN THIS LOW INTEREST RATE ENVIRONMENT. SO HOW MUCH IS IT THAT YOU HAVE ASSUME IT'S AN IRA AND THEN YOU'RE TAKING OUT PORTION FOR YOUR RMD EVERY YEAR. IS THAT RIGHT YEAH YOU HAVE IN THE IRA.
I DON'T KNOW. I SHOULD'VE TOLD THE AMOUNT OF ITS CLOSE TO 200,000 OKAY AND HOW IS THAT INVESTED SOME STOCK I DON'T KNOW THE PERCENTAGE OKAY THAT'S OKAY. DO YOU HAVE SOMEBODY LOOKING AFTER THAT FOR YOU. YES I DO OKAY. AND SO YOU'RE TALKING SPECIFICALLY NOT ABOUT THAT ACCOUNT, BUT JUST THE AMOUNT THAT YOU REQUIRED TO TAKE OUT YOUR WHERE YOU SHOULD PUT IT WHEN YOU HAVE A SURPLUS. IS THAT RIGHT YET YES AND I HAD DO AND I JUST PUT THEM IN MY SAVINGS OKAY AND WHAT'S THE TOTAL OF THE AMOUNT OUTSIDE OF THE IRA THAT YOU HAVE IN SAVINGS RIGHT NOW PROBABLY ABOUT 60,000 60,000 ARE YOU KNOW II THINK THAT YOU COULD TALK TO YOUR INVESTMENT PROFESSIONAL ABOUT IT. YOU IN TERMS OF CDS VERSUS SAVINGS IS REALLY NOT A WHOLE LOT.
THERE'S NOT A COMPELLING CASE. DO YOU SEE THESE RIGHT NOW I'M IN A ONE YEAR CD IS PAYING ABOUT THE SAME AS A HIGH-YIELD SAVINGS ACCOUNT. EXCEPT IF THE LOCK IT UP FOR A YEAR VERSUS HAVING IT COMPLETELY LIQUID TO YOUR CDS PLAYING IN ABOUT .7% SO LITTLE LESS THAN 1% TO ABOUT .75 YOU'RE GETTING 1 TO 1 1/4 OF A THREE YEAR CD IN ABOUT THE SAME OR LESS AMAZINGLY ON A FIVE YEAR SO THERE'S JUST NO REASON TO PUT THAT MONEY, I WOULD PROBABLY LEAVE IT IN YOUR SAVINGS ILL AND I'D LOOK AT HAVING A HIGH-YIELD SAVINGS ACCOUNT BECAUSE YOU KNOW IT ALLY OR MARCUS OR CAPITAL ONE 360 THE OTHER OPM .5 TO .6% RIGHT NOW WITH NO FEES AND IT'S FDIC INSURED AND YOU CAN MOVE THE MONEY ANYWHERE YOU WANT ANY DAY OF THE WEEK THAT'S COMPLETELY LIQUID YOU'RE NOT LOCKING IT UP AND I WOULD WAIT FOR THE INTEREST RATES TO MOVE BACK UP ON THE CDS BEFORE I BOUGHT A CD THE OTHER THING YOU MIGHT WANT TO CONSIDER JUST TALKING TO YOUR INVESTMENT PROFESSIONAL ABOUT WHETHER GUILT BEYOND THE AMOUNT THAT WOULD BE EQUIVALENT TO ABOUT A YEAR'S WORTH OF YOUR EXPENSES YOU, LET'S SAY YOUR EXPENSES ARE 30,000 A YEAR.
I WANT YOU TO KEEP AT LEAST THAT MUCH IN THE HIGH-YIELD SAVINGS, BUT IF YOUR INVESTMENT PROFESSIONAL HAD AN IDEA ON SOMETHING YOU COULD DO WITH THE OTHER 30,000 AND WHATEVER YOU ADD TO IT FROM FUTURE REQUIRED MINIMUM DISTRIBUTIONS THAT WOULD BE AN OPPORTUNITY PERHAPS TO PUT IT IN SOME BONDS OR SOMETHING. THIS CAN GET YOU A LITTLE BIT MORE.
THE LAST THING I WANT YOU TO TALK TO YOUR INVESTMENT ADVISOR ABOUT IS A QUALIFIED CHARITABLE DISTRIBUTION. ONE OF THE THINGS YOU COULD DO SHIRLEY IS TO INSTEAD OF TAKING THAT REQUIRED MINIMUM EVERY YEAR YOU COULD HAVE IT SENT TO YOUR CHURCH, OR A FAVORITE CHRISTIAN MINISTRY AND SATISFY YOUR REQUIRED MINIMUM AND THEY GET THE FULL AMOUNT. NOBODY PAYS ANY TAX ON IT.
YOU DON'T PAY THE TAX. IN FACT, YOU GET THE FULL DEDUCTION IN THE MINISTRY GETS THE FULL AMOUNT WITHOUT ANY TAX AND SO EVERYBODY WINS IS YOUR SATISFYING THE IRISES RMD YOU'RE GETTING A NICE DEDUCTION THEY'RE GETTING THE FULL AMOUNT COMING TO THEM AND YOU COULD EVEN TAKE THE AMOUNT YOU WOULD'VE SENT TO THEM OUT YOUR CASH AND HANG ONTO IT AND THEN EVERYBODY YOU KNOW YOUR SAVING MONEY AT THAT POINT. SO ASK ABOUT A QUALIFIED CHARITABLE DISTRIBUTION AND I HOPE THAT HELPS YOU TODAY. WE APPRECIATE YOUR CALL VERY VERY MUCH. WE UNFORTUNATELY ARE OUT OF TIME LUPE IS HOLDING LOU PAM AND ASK YOU TO CONTINUE TO HOLD THEIR IN OSWEGO ILLINOIS AND SOON AS THE PROGRAM IS OVER I WILL CONNECT WITH YOU AND WILL SEE WHAT'S ON YOUR MIND TODAY AND HOW I CAN HELP YOU DON'T WANT TO CUT YOU SHORT, SINCE WE ARE ABOUT OUT OF TIME WILL FOLKS THAT'S GOING TO DO IT FOR US. LET ME REMIND YOU MONEYWISE LIVE IS A MINISTRY MONEYWISE MEDIA.
IT'S A PARTNERSHIP WITH MOODY RADIO AND WE RELY ON YOUR FINANCIAL SUPPORT TO DO WHAT WE DO EVERY DAY ARE LITERALLY THOUSANDS OF QUESTIONS THAT ARE MONEYWISE COACHES ARE ANSWERING OUR CERTIFIED TEAM ADVISORS WEBSITE THIS PROGRAM WE BRING TO YOU EVERY DAY ALL THE RESOURCES IN THE THAT'S ONLY MADE POSSIBLE BY JUROR YOUR GENEROUS SUPPORT. WOULD YOU CONSIDER A GIFT HERE AT MONTH THEN WE COULD SURE USE IT IF YOU HAD OVER THE MONEYWISE LIVE.ORG, CLICK THE DONATE BUTTON THAT'S A WAY FOR YOU TO GIVE SECURELY AND SAFELY. WE WOULD BE GRATEFUL THANK YOU TO MY TEAM AMY RIOS DEB SOLOMON DAN ANDERSON JIM HENRY AND THE REST WERE SO GLAD TO HAVE YOU WITH US TODAY WORTHILY BACK ON MONDAY WITH ANOTHER ADDITIONAL MONEYWISE LIVE MONEYWISE IS A PARTNERSHIP BETWEEN MONEYWISE MEDIA AND MOVIE RADIO HAVING THE LORD BLESS YOU AND LOOK FORWARD TO SEEING YOU NEXT WEEK