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Opt Out of Child Tax Credit?

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
August 30, 2021 11:54 am

Opt Out of Child Tax Credit?

MoneyWise / Rob West and Steve Moore

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August 30, 2021 11:54 am

When is free money not so free? Maybe when it’s part of the expedited child tax credit payments from the IRS. On the next MoneyWise Live, Rob West will explain how it’s all part of the American Rescue Plan passed by Congress earlier this year. And now that millions of American families have received these payments, some may have to “pay the piper” for them next year at tax time. Then Rob will answer your calls and questions on various financial topics. That’s MoneyWise Live—where biblical wisdom meets today’s finances, weekdays at 4pm Eastern/3pm Central on Moody Radio.

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We find I sound like a broken record. I been doing this for 18 years. I've never seen a market like this in my life values have generally been skyrocketing.

The last couple of years with interest rates being so low. I actually seen refinances were people able to cash out the newly found equity in their homes to home improvements, whatever it may be and still save money per month compared to what their prior mortgage payment was so it's worth a shot to give us a phone call and one thing I can promise at United faith mortgage is we will not be pushy.

It's one of my biggest pet peeves I can promise you we will not be that way. I like to see it is my job is to present you with a few different options. I step back. I let you decide and I'll let you call me when you want to move forward. We like money. Not so free from everyone as part of expedited child tax credit payments from the IRS. It's all part of the American rescue plan passed by Congress earlier this year by Rob West, millions of American families have received expedited payments in July and August, but some may have to pay the piper for the next year at tax time talk about that first today limits on your calls at 800-525-7000 800-525-7000.

This is money wise law you want to give a hand to a coward for alerting us to this potential problem.

Here's the background, Congress passed and the president signed the American rescue plan into law several months back. While the legislation is no doubt helping cash-strapped Americans still suffering from covert shutdowns. There's a provision that could be a problem for many families when they have to file their 2021 return is a part of the law.

The child tax credit for 2021 was increased to get more help to more families. The credit increased from 2000 to 3600 for each child under age 6 for each child ages 6 to 16. The credit increased from 2000 to 3000 and for the first time. The law also makes 17-year-olds eligible for the $3000 credit who's eligible for these tax credits married couples earning up to $150,000 a year can qualify for the full $300 monthly credit per child and single parents filing is head of household are eligible if they make up 212,500 year so far so good but the problem is that in July the Treasury Department began sending out monthly payments that by the end of the year will equal half of the total 2021 tax credit that eligible families would receive next spring when they file taxes.

Those payments will be $250-$300 per child depending on their age. Now I know you're thinking what could possibly be the problem with receiving this money ahead of time. Well, it's this all of these stimulus payments.

Americans have received over the last year and 1/2 been very confusing for a lot of people. How much will I get do I have to pay taxes on this money and so on.

You probably asked those questions yourself will this new twist on the child tax credit brings that confusion to a new level. Many families are likely to think that these monthly checks are like the previous stimulus payments are not these payments will be subtracted from the amount eligible families would normally receive when they file their 2021 returns so in a sense, it's like they're taking out a huge loan from themselves. That will have to be repaid at tax time that's compounded by the fact that many people have heard that the child tax credit is going up this year way up and they'll be looking for that big increase next spring. In reality, the amount they'll be able to claim will actually be less than they could claim on their 2020 return because they've already received half of the 2021 payments in some families may not be able to claim anything at all. Depending on their situation worse. The IRS says that depending on income it may demand reimbursement of the family receives overpayments for the child tax credit like that happened while eligibility for child tax credits depends on your income. A single filer with young children can earn up to $75,000 a year. Married couples up to 150,000 a year. But that's based on your 2020 return.

If you make more than that in 2021 and received the monthly payments I talked about. You'll potentially have to pay that money back to the IRS so it's a bit of a mess.

You do have a couple of options.

Even though you've probably received payments in July and August.

You can still stop the remaining payments that you have to refund the government next spring. You just need to contact the IRS and tell them to stop the monthly payments they've set up an online portal for you to do that, or you can call the IRS at 800-829-1040 but will have the link to the online portal and that phone number and today show notes.

The other option is to just continue receiving the payments but don't spend instead put the money in an out-of-the-way place like an online savings account where you can still learn a little bit of interest. I like now why Marcus sort capital one 360 so that's the long and short of it. Any money you receive.

Now, in the form of child tax credit ducted from what you normally receive on your 2021 federal tax return. I think the moral of the story is to always take a second look at what you think is free money, it often has strings attached and it's always wise to be prepared are your calls next. 800-525-7000 800-525-7000 on Rob West and this is money wise law for joining us today and moneywise is this taking your calls and questions in just a moment on anything financial. We'd love to hear from you. Is it saving or giving perhaps it's retirement that has your perplexed store teaching your kids God's principles of managing money. Whatever it is we love to tackle today from a biblical perspective. That's what we do here on Moody radio and we'd love to have you join us. Lines are open 800-525-7000. By the way, if you haven't downloaded the moneywise that we'd love for you to do that where ever you download apps moneywise Apple let you take moneywise on the go listen to broadcast archives all of our incredible content from the leading voices in Christian finance, plus our digital envelope system, which is the best envelope system I've ever used in your pocket you can share with your spouse and stay on top of your spending. That is the key to every financial success. Living well within your means go downloaded today. Just search for moneywise biblical finance. When you visit your app store all right. The lines are filling up quickly. So let's head to the phones today were going to begin in Spokane, Washington Marie, thank you for your call. How can I help you hi Mr. Wapner after wet. Thank you for taking my call. I have home that I've had for about a year and it's not finance and I have a motorhome that is financed and I believe I should sell the home to pay off the motorhome and I'm just wondering if this is a good financial decision. I am tired and extinct common short.

I think they audit. Yeah. So it's obviously an important consideration because it's not only financial but because this involves your residence where you will live. It's more than just a financial decision but this was purely just a question about maximizing an asset we can approach it that way but we've got a deal with the other side of this is well. Where do you want to live what fits into your budget.

What about location, then, is there any sentimental value here, and what are your longer-term plans and how might that affect this decision clearly in most parts of the country, if not nationwide, were in a very strong housing market.

It's cooled off slightly but still a sellers market which means you should be able to maximize the value of this home but I think as you consider that you also have to look at okay what would you replace it with them. If you're planning to move into the motorhome to downsize. Perhaps lower your overall expenses you could clearly take the proceeds minus any taxes that might be doing will talk about that pay off the motorhome if you were going to live there and then perhaps have some left over that you could use to shore up your savings or even look toward longer-term investing but tell me your plans if you were to sell this home. Marie what you think you would do in terms of living situation while I bought the motorhome to travel and I got stuck and called and I had to live in at so I could live in it again that I would like to do some traveling. I'm from Washington and I love Washington and Oregon and there's so much I want to see and like it that I got stuck in COBIT so I didn't really get a chance to get out there much like you do that and in the meantime, I think I would put my name on last for low income apartment and then see if I could get into something like that and I'm retired night by line count, so I would know that would work for me. Okay then, go ahead because of the home, and I have I am. I own it are almost in so the overhead taking care of it might be a little bit much for me associate with the motorhome and I tried to sell it. The motorhome and it's not going to sell. This is too much of a payoff. So I scanned my bad, efficient pension, so here is the motorhome meeting. You owe more than you believe you could sell it for all definitely adequate. I tried to sell it. That was my plan Home to sell the motorhome going to call but I'd rather be in a home then and in the motorhome at that time. Yes, I see.

Okay, I am certainly following where your hand and because your upside down in the motorhome selling this home would give you an opportunity. Obviously to satisfy that loan. And because you can live there.

You have before and you're actually looking forward to perhaps using that to travel a bit in the Washington area that makes some sense to me which would also buy you some time to figure out is that a long-term plan or do you want to look for as you said in an apartment and perhaps if you could qualify for low income type apartments that would not put a strain on your budget that would be great. How long have you lived in your primary residence.

I've only been here a year okay and do you believe you could sell it for more than you paid for almost definitely gonna happen. You yeah what you said you get the mobile home okay you said you don't owe anything on it. What you believe the value of it is well III don't act on it outright.

I owe a small payoff to the people I bought it from there carrying a balance with no interest so I don't have any interest on it and if I put up with Dell and April 22 then I will owe 17,000 and have to take that up at the top as well. As the motorhome. I still think that I would come out ahead because it's just that it's just been overwhelming trying to keep up with all that God is working around all literally us.

Okay well I think you as you look at this if you could reach the two-year mark. Then you wouldn't owe any taxes on any gains that you make. You may owe very little anyway just based on your income or nothing, so that may not be a consideration, but it might be worth just looking into to understand if there are any tax consequences based on your profit because you haven't reach that to your mark, which just may play into whether or not you delayed this slightly to reach the two-year mark where you would have 1/4 of a million in gains that you could get without any capital gains taxes being paid but again because of your low income that may not be a factor, but given the fact that your upside down in the in the motorhome. I think that this does make some sense gives you flexibility in some time to think about where you want to go next. You can certainly pray through that and again this is a pretty strong market hopefully one where you could maximize the value of this payoff that no interest loan satisfy the loan on the motorhome and hopefully have some left over so Marie, I'm on board with this strategy. Does that make sense all that dad makes really good can I had to live in the home for five years at least to get out of that tax credits owed by you telling me that really helps the bank to make that bet you out of the last five years. Yeah well it be worth a conversation with the tax preparer, CPA just to see because, based on your income.

You may not owe any capital gains even if you don't wait to the two-year mark. So, I would check that out, but certainly if you can get the two years you'll know you have that exemption in place.

Listen all the best to you in this next season of life. Grateful for your listening today I'm confident the Lord has a great plan ahead and we appreciate your call, folks. That's what it's all about finding God's heart as a relates to managing his money and that's the key here moneywise live. We recognize God owns it all. We are the stewards or managers of the creator of the universe's resources. Well, that's a high calling, so we want to get it right. Here's the good news God's word is 2300 verses on this topic to help us pull out the principles and apply them to how we are handling his money. Today we want to help both lines are open 805 five 7000 joining us here moneywise live on Rob last year closing questions on anything financially have two lines open 800-525-7000] the phones. Thank you for your goals or how can you wanted to know we applied for PPP small business loan back in 2020.

No went to the process receive the money and then we applied for the forgiveness that you know that.

And so we and we were able to get the forgiveness anyway. I was just wondering if there were any hidden charges or any hidden taxes or anything that that might be coming up for that because we actually went for the second round of the PPP loan for small business and you know we are in the process for the forgiveness for that to this one or that he was curious if the government got something hidden in there. You know yes I know there really isn't.

The key is that you have applied for the forgiveness which you would do with the lender that issued your loan in the first place, not the government, and that you qualified and the other big idea there on this loan to small businesses would be that that the money was spent based on the ratio they wanted to see largely toward yellow the payroll and to a lesser degree, things like utilities, rent in inventory.

The first round you required that 75% of the funds go toward payroll. To be eligible for forgiveness which meant that the balance could be used for non-payroll items and then it changed to 60%. So you gotta meet that 6040 threshold to make sure that you do qualify and some of those non-payroll expenses are things like rent, utility payments, interest payments, things like that. And then there's some other requirements as well that you would need to look at just in terms of the window of time.

This accounted for in that you met those certain number of employees of your criteria, but with a small business.

You probably did bottom line is the vast majority of these are being forgiven. It's just taking some time so I just go back to the lender that to you applied with make sure you in fact do qualify, but then you can check on the status and they should be able to give you an update as to how quickly these are being forgiven, but I don't think you're to be surprised with any hidden charges or expenses. I think it's just the timing function if you qualify, you will eventually get it. Does that make sense yeah that makes a lot of sense.

I just know how it is with the government loans you discount. I wonder if there's something hidden that you might have to pay for later, or whatever you well.

We started by talking about that today on the child tax credit. So I certainly understand that, but I don't think you'll find anything here so we appreciate you checking in with us. Thanks for keeping the folks on your payroll during this pandemic you know that was so key in. I hope things are going well for you Don. Thanks for listening to the program on to believe it's Ravena Ohio my saying that right William Ravenna sure. How can't I'm getting made in January and I don't think it's like in mind our finances so you have any way. You would go about preparing ourselves for marriage and finances. Anything to Well William, I'm delighted you're asking this question. This is one that I think is so critical for engaged couples to deal with, you know, we most of us go through premarital counseling to deal with all kinds of issues that are critical to talk about but often the finances is maybe one small part of that and I don't think in many cases gets addressed adequately. Especially given the percentage of people that will say if there's a breakdown in communication. Money was the top reason you know it was the primary driver of the of that break down. So here's what I would say to you, number one, you're already well on your way just by the fact that you are asking the questions, that's a good side. Number two, you will need to be really transparent, open and honest with each other about your past finances, so disclosing really where you're at in terms of savings and debt. I would also as a part of that conversation.

Talk about what money was like growing up because you know those early memories of money how her parents handled money heal the lifestyle we grew up in did so much to shape how you view money today with you cling to it tightly or you know you can hold it loosely, both in terms of spending even in generosity as well but just understanding your backgrounds and what you're bringing to the marriage relationship in terms of your money.

Personality is really key so that as you all then forge your own vision for how you're going to handle God's money as a married couple is one flesh. It will be important to make sure that you understand what each of you is bringing to the table, not in terms of necessarily assets and liabilities but that's clearly one part of it, but all the nonfinancial side as well.

And then as you pray through that I think you're gonna want to make sure that you develop that shared vision.

Where is God taking us what lifestyle has he called us to feel what is it look like to live modestly or simply and what are some of the decisions were to be making about a prioritizing giving.

Where is that going to fit what about long-term savings and living within our means who's good to be the bookkeeper because even though were making joint financial decisions.

One person who probably has a propensity toward greater administration and details is probably going to be the one that actually writes the checks or you know these days, we don't use many checks but pushes the button to make the financial transactions online and as a part of that, William. I think it's really critical that even if you keep them separate now, and I would concur with that, that everything does in fact get merged, so we don't create right out of the gate a situation where it's mine and yours and my bills and your bills no matter who is bringing money yet it's all God's provision.

The question and how are you all moving forward together as a married couple to accomplish God's purposes in your marriage and in your life with his resources, so I think those are some of the key things that you need to be working on Outlook to send you a book just as our gift to you.

Call it a wedding gift.

William it's called money and marriage God's way by Howard Davis if you stay on the line, get your information in that book right out to you one more thing about getting a financial mentor couple older couple walking with you for the first year just in this area finances.

Perhaps in your church, God wouldn't play somebody in your heart, and I think that could make a world of difference. Listen congratulations on your upcoming marriage. God bless you and your bride. Folks, this is moneywise 1 PM, Rob West, thanks for tuning in the moneywise line as goes maybe check out our brand-new website is not a precipice of love when you're on your mobile device will not drive going up on your mobile device or tablet or if you sit in front of a computer check out there as well as it's brand-new. I think you'll love our new site that makes accessing our content tools and resources easier than ever. You know, just a moment ago we were talking to William about money and marriage and two of our featured articles right there on the main webpage moneywise are related to that topic. We got one from compass son married couple spending would also gotta moneywise set resource on improving your money and marriage communication. That plus for costs of children that catch parents off guard. There's even an article related to today's opening topic on opting out of the child tax credit if you missed some of that in our opener today. You can read all about it.

Again, check out our website By the way when you're there, jump into the community you can post a question to get answers from others. The money was community plus her moneywise coaches are in there as well. You can find a certified kingdom advisor you can connect with the moneywise app you can also donate and this month with your gift of $25 or more, you can request a copy of Ron blue's book, never enough three keys to financial contentment. You'll find the donate button at the top of the page. Again, it's all right there moneywise. check it out today.

Well all the lines are full but that means you can sit back and listen to some great questions like this one coming from Boca Raton, Florida, just north of where I grew up Tony good afternoon Sir, how can I help you.

Thank you and your oncoming I'm going to.

I know seller's market that I'm trying to help my mom took her first home and and running for what you Or by herself market great eco-I'm thinking I'm going to go find her something that she can live off and run some of it based on my I wanted to hear your bottom kind of investment that I don't have money and you know that I extra money to help out. You have a little bit late for nonpayment.

What you think.investment yeah, well, a couple questions for you Tony. You mentioned perhaps getting some income coming into her to offset some of the expenses that she would have in this home that you would help her by will talk about that side of in the moment are you thinking she'd rent out a room or what did you have in mind, yeah, I ran out of room or I will, me a duplex or something okay and what have you gotten this far to determine what she would be looking to spend and if so, I'd love to know that number.

Secondly, how much has she saved like 20,000, and we both read on like a family and you would not 20,000" 20 and Guardian. What we have paid we can get something and or 17 not okay up to 470,000 and if you were not to find a renter if she would have to carry the full mortgage and I'm assuming because you said you don't have the extra resources you wouldn't be supplementing the mortgage payment. Can she afford the mortgage payment on four and a $417,000 purchase minus whatever you put down 20 or 30,000 yeah so where would that how would you make that up. Would you offset that every month I will I will try but I honestly I don't think I can say that this is my concern. Tony know just because the lender says they'll give you 417,000 doesn't mean it makes sense and if she is on the limited income and you're stretching to help you render using both of your incomes which is why you're having to step in. It just tells me that you know this is out of reach that this she can't afford this and I realize property values are sky high.

Right now, especially in Boca Raton, Florida.

I'm well aware of that market. And I realize that 417,000, although it's an incredibly no high amount of money it's a lot of money, it probably isn't going to buy anywhere near what you would expected to so I what I don't want to see happen is you all in a stretch to get into it.

Just because somebody will give you the funds and then you know you're not able to find a roommate as quickly as you think, or for quite a bit of time and or somebody moves in and then a few months later they move out unexpectedly and you're not able to replace him. And then all the sudden you know you she and you are in a real hardship situation where you can't make the mortgage payment an hour into a foreclosure in your credits damaged and she's having to come up with alternative for where to live a mean I realism pinning a dire picture but it could be a reality, just given the fact that it seems like were stretching. You want evidence of that is the down payment typically would say you know you'd want at least 20% down, which you know would be 80,000 on a $400,000 purchase and then the mortgage payment on the balance, if you bought the $400,000 mortgage. Put her home. You put 80 down the mortgage on 320 we want to make sure that wasn't more than 25% of her take-home pay and I suspect it would be considerably higher than that it be one thing if you had the resources to say it's no problem. I'll cover it and I can do that. I have the financial means to do it and it's not going to be a major real problem for me either down the road but I'm not hearing that as well so is much as I'd love for her to have a home. I think the combination of the market herein how high the market is right now, given that it's a sellers market and what I'm hearing regarding limited resources and an ability to make sure that mortgage gets paid every month without creating a hardship. I'm going to have to advise you to push the pause button. Perhaps you help her get into an apartment one that might be better suited for her in a better location. Let's wait for the housing market to cool off a bit and you guys do some more saving before you make this purchase because the last thing I would want is to go into a home and then for you all to have some real problems down the road.

Does that make sense though Tony you're welcome, Tony. I'm sorry I didn't have better news for you my friend. Listen Morgan pray the Lord gives you wisdom as you navigate this. I know your desire is to help your mom.

I know you'd love for her to have a home. I would to bottom line is you. We want what's best for you all. Let's trust the Lord that he will give you wisdom to know what the next move is in a please keep us updated Tony along the way.

We appreciate your call today for you folks.

This is a hard one because we want to help her parents in fact, that's very biblical word of honor our parents and were to be a blessing to them and yeah in certain times. That's good to include financially speaking.

If they don't have the means to provide for themselves and yet what we don't ever want to do is put them in a situation where were going to allow them to get overextend you or them, which makes a difficult situation in our desire to help in some cases, we can create more problems so let's trust the Lord live within our means is difficult is that is sometimes limited resources and I'm kind of fine folks continue to unpack biblical truth and apply it to what's going on in your financial life questions related to 401(k)s income tax refunds were also talked about where to put that's all just around the extra tuning into money wisely on your journey back to the phones today would go to Morton, Ohio. Becky is waiting patiently. My income tax return because when I googled that now that extends hellcat has a stimulus tax and other stimulus CAC, there's good news because second defendant not $300 and nine lender when the wells that you're talking about your refund and Becky you and 15 million other Americans are still looking for that income tax refund.

The irises said that in addition to the reasons you mentioned just the delays due to the continued operations that they have that are limited under the COBIT health and safety restrictions to ensure the safety of their workers are resulting in a good many of these delays. They are insuring us that these returns are being processed as quickly as possible so that they can get those checks out, but so far they say all returns received in April have been processed but a whole bunch of returns were sent and after that so of the stacks must be pretty tall at the IRS for at least the paper return. So never fear it will come. It's just a result of the sum of the supply constraints were seeing in so many industries across the board. The irises no exception and it's all due to the pandemic. So you hang in there and you'll see that check before too long. Okay okay thank you Nikon are you to Becky God bless you on to West Palm Beach Florida Marie good afternoon doing great. How can I help that I will not a lot a lot of that when I would come out that down. I was wondering if you don't like back Going up and down the fact that you know one day market.

I understand Marie's you know I wouldn't be able to give you a specific recommendation without knowing a bit more detail on your situation how much you have in there which are aging goals and objectives are below just say generally I'm going to encourage you to avoid trying to time the market, you know it's is very easy when things get uncertain and they certainly were uncertain at the beginning of this pandemic. It can get very easy to react emotionally and to make decisions to move in or out of the market. Based on what we feel or even fear or is going to happen in one direction or the other. The problem is all the data.

Marie says that that's not the what right way to handle it because invariably and we saw this play out the beginning of the pandemic.

Invariably we move out of the market to cash because we think where this isn't going to end well and it's good to go on and on. And yet it was the fastest move to a from a bull to a bear market into a recession that we'd ever seen, but it was more quickly than ever before. Did we move out of it and moved back to the highest highs we've ever seen in the stock market because of the market recovered so quickly.

It was unbelievable what happened in the stock market and so what can happen as we move out and then we don't get back in the market recovers and we miss all the upside.

So that's why it's just so prudent to take the long-term approach to be diversified not to react emotionally and so I think in terms of you going back into the market. The first thing I want to make sure is that you know what the right allocation is for you so if your 7 to 10 years out from retirement. You still got a good bit of time, but you should be, you know, taking a little bit more of a conservative posture than you would have. Let's say 10 years ago. So if if you were to have, you know, put 80% in the market today, and 20% in bonds. Perhaps 10 years ago it would've been you know 90% and and and and 10 or something like that and so I think as you begin to move back into the market, I would do so on a systematic basis.

Perhaps you'll fourth of what you took out next month. Back in and then another fourth month after that another fourth until you get it all reinvested. But make sure you put it into investments that are consistent with your age goals and objectives and risk tolerance, and if you need some help with that. I connect with a certified kingdom advisor there in West Palm. Or see if the plan administrator could assist you with some counsel on the right investments to choose for you and then the next time we get into some uncertainty. Let's not react emotionally. Let's stay with your plan and let's trust that if you're invested appropriately, meaning you have the right allocation the right mix between stocks and bonds.

You can weather any storm and in fact remember this, even the day you retire.

If the Lord tarries and you have good health, you're still gonna need that money to be around and grow for probably two decades or more so you know you still are able to take a long-term approach, even though you can get more and more conservative as you approach retirement. So think about that and then reach out for some help as you systematically move back into the market in a way that's appropriate for you and we appreciate your call today onto El Dorado Springs, Missouri hello Chad, how can help user I saw by you work toward a $25,000 fine dating and I've got that about $30,000 debt that were working on what the other would be my about 85,000 left out.

I feel like PD and I got up to doubt that get my question is that, should I be put money towards the start, but that might towards the house, other debt or keep trying to get to this goal of 25,000 that downright great question. Yeah, couple of questions I would have back for you. What you think Chad if you were to guess, and maybe no real clue closely, but would you guess be on what your total expenses are over a month. Not three grant 2500. Let's say it's 3000 all right. And then secondly, what is that other debt, not the 85,000 on the house so I have a credit card actually have recreational toys boiler.Like that at one okay what's the total of those all those together, probably around, right around 30, 30,000 in the last question, what surplus do you have every month over and above your expenses that you could use for debt reduction or show or adding to your emergency fund prop probably around 802,800 2000 okay yeah I died lock your emergency fund right where it is phenotypically we'd say you'd want in your season of life six months expenses on the top end in savings and that's 18,000 so you know we'd say 3 to 6 months of three months would be 9000 security well above that. At 15, and I think you could lock that right there, perhaps even bring that down you know to to 12,000, no less than 9000 I think your focus right now needs to be first to the credit card debt and then second, the recreational vehicles and then third, the student loans.

Once those are wiped out. That's can give you even more margin to start going after the house and let's get that paid down so that once you reach retirement.

That house is completely paid off. Hopefully well before that.

That's can give you even more margin and you if you wanted to increase that emergency fund up you could, I'd look at new giving opportunities or even long-term savings, but at 15,000 I think you're pretty close to the top end.

Unless there's something coming on the horizon that you know about that. You need to be anticipating just as a general of thumb, I think your and sit in a really good spot. I go after that debt, starting with the consumer debt.

First, okay you are I we appreciate your call today quickly to our event. Ohio Dorothy, I understand your question about the benefit of using a realtors that right right I was wondering what the pros and cons were selling your own home for sale by owner or going with the realtor yeah yeah very good. You know I'm a big fan of using professionals to help us manage God's money just because of the expertise, the time and attention they can give and so often it takes the emotions out of that gets why think it's important have a financial advisor on the planning side as well as the investment side and I would say that's absolutely true here with real estate as well number one were in a really challenging market right now, so their understanding of what fair market value is in developing a pricing strategy is critical of their going to do the showings, which means you're not the one having to you know be there necessarily and go through and answer the questions and doing that in a way that's appropriate. Of course, honest but appropriate as you talk to both the potential buyers as well as the agents representing them. Your they can help just to make sure you don't ever put yourself in a precarious situation in terms of somebody coming in your home that creates an unsafe situation because they can have more than one person there will do all the paperwork which is enormous because you want to make sure you get all of that right plus the negotiation. I think having 1/3 party that can help you negotiate is really critical so you're not the one you know turning down an offer countering their doing it for you. So having that representation for what will be the largest transaction you will ever have. Dorothy is I think critical and were 6%, you'll probably pay to do that so I would absolutely affirm that idea. We appreciate very much that's good for us today. Moneywise is a partnership between radio and moneywise media want to say thank you my team today. Any Rios Dan Anderson Jim Henry providing research today think that they will look forward to really be here tomorrow. Hope you will join us then you

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