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Are You Called to Stewardship Ministry?

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
February 14, 2022 5:12 pm

Are You Called to Stewardship Ministry?

MoneyWise / Rob West and Steve Moore

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February 14, 2022 5:12 pm

A big part of a Christian’s walk is to fulfill God’s calling on their life, using the spiritual gifts that He has given each believer. And one of those could be the gift of stewardship. On today's MoneyWise Live, Rob West will welcome Leo Sabo of the Christian Stewardship Network to share how you can know if you’re called to the ministry of stewardship. Then Rob will answer your calls and various financial questions. 

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Thank you for tuning in to MoneyWise Live, biblical wisdom for your financial journey. Are you looking for an advisor that is a financial professional who can offer financial services and planning or investing, insurance, taxes and accounting, even estate planning? Are you looking for a professional that can apply God's truth to their advice and counsel? Well, the Certified Kingdom Advisor is the designation in the industry that we trust for that purpose. These are folks, men and women, who have met high standards in training, integrity, competency and character, but they've also been especially trained through a rigorous course and proctored exam to determine that they can apply God's wisdom to their advice and counsel, the counsel of Scripture as it relates to all the financial decision-making areas. If you'd like to find a CKA in your city, you can visit our website,

Just click Find a CKA. Alright, all the lines are full. That means we're stacked up today. We'll get through as many questions as we can. Next up is Barbara in Birmingham. Hi, Barbara. Thank you for calling. Go right ahead. Hi. Thank you.

I appreciate you so much. My situation is that I'm trying to make a wise decision and I'm asking God for guidance. I'm living in my mother's old home. It's pretty old, but it has very bad problems. It has foundation problems and I've had estimates done and my thing is, should I spend the money to get the foundation repair, which will cause other repairs when I get the foundation repaired, and should I spend the money or just sell it and just get something else that's in better shape? Yeah, yeah.

Well, it's a great question, Barbara, and one that I'm glad you're giving careful thought to and prayer. Generally speaking, in terms of renovations, material prices have moderated, so it's not perhaps as expensive to renovate now as it was even just a few months ago, although prices are still high, all things being equal. But so is the housing market if you were to try to sell.

That means that in the seller's market, you'll get a hefty price for your home, but you'll end up paying a hefty price when you buy. So I think it boils down to number one, do you want to move? Would your house meet your needs if you had it fixed up? And if not, perhaps you're better off selling and buying somewhere else. I think the other consideration is just the type of repair you're describing. I know from personal experience that foundation repairs are costly, they can be extensive, and the cost to actually do the repair vary widely from vendor to vendor, from contractor to contractor.

So you need to get with somebody perhaps that this is their primary business, but maybe not necessarily the brand name nationwide that's going to add a bit more of a premium as opposed to somebody who's more regional or local in scope, even though that's their primary activity. So I'd get a number of bids before you consider what this is actually going to cost you. And you're right, as you said, this will probably lead to other repairs as well. So I think the first question is what is it actually going to cost you? And I would do that due diligence in earnest, making sure again, you get multiple bids so you know exactly what this will cost depending on who you're going to go with. Then secondly, you have to factor in the fact that because a foundation repair is expensive and it's extensive, it could be a real stumbling block to you getting this house sold at a market price that you're comfortable with because that's going to be a real red flag to a lot of folks. I know if I was looking at homes, even though inventory is tight right now, I would probably personally steer clear of a home that had disclosed and you would need to do that, that there are foundation issues just because they can tend to be so expensive. So that's probably something you're going to have to talk to a real estate professional with to see what could you actually sell this for. What you may find is that if you have the funds to do it, you've gotten enough bids to feel like you're getting a competitive price and you can afford to do that. And if you would prefer to stay in your home if this were repaired, that may be the better option just because of the discount you're going to have to offer on the sale.

But I think it's going to require a bit more homework before you make that final decision. For me, I would want to know what does a real estate professional think about this in terms of hindering my ability to sell it. Number two, what is it actually going to cost me if I do the repairs myself? So I can factor that in. Number three, based on what a real estate professional thinks I could get for it, where would I go?

And have I done the research on the home I would replace this one with to make sure I understand how much I'm going to have to spend to find something that I'm satisfied with in terms of size, features and location? There's a lot in that though, Barbara, give me your thoughts. You know what?

You're talking about a real estate person. I'm asking God for guidance. And I had already heard that. But when I heard this show, I said, let me call and see what wisdom I could get from you as well. And that was the one thing he told me. He said, look into a real estate agent and talk with them about this. He said, thank you.

I think that's right. And I would come to that meeting, Barbara, with a couple of bids from contractors who could actually do this work so that as you talk to that professional, you have a good understanding of what it actually would take for you to do these repairs, get the foundation issues resolved, any other renovations on top of that. And I think as you talk through that, in terms of what you'd be able to sell it for, what you'd like to buy, and what the cost for you to do this repair yourself would be, I'm going to trust that the Lord will make it really clear the direction you should go.

But I'd be armed with all of that information before you make this final decision. Barbara, thank you for your call and for your kind remarks. We appreciate it.

800-525-7000, one line open. By the way, Bob Dahl stopping by a little later in the broadcast with our Market Update. That'll be interesting. Stay with us. More to come on MoneyWise Live.

We'll be right back. Delighted to have you along with us today on MoneyWise Live. This is where we recognize God owns it all. We're stewards or managers and therefore money is a tool to accomplish his purposes. So we want to live within our means, avoid debt, have some margin, set long-term goals and give generously. If we do that, we believe we're moving in the direction of God's heart as we hold everything loosely and ultimately it allows us to live generous lives. And that goes well beyond our money, perhaps with our vocation, with our influence, even with our expertise and yes, our financial resources. I think that's really God's heart as it relates to being found faithful with what he's entrusted to us. We want to apply his truth, his principles to your financial decisions and choices that you're faced with today. So let's head right back to the phones.

Gary's in Chattanooga, Tennessee. I understand you have a question about IRAs. Gary, go right ahead. Yes, Rob.

Thank you for taking my call and thank you for the godly wisdom that you provide every day. I finished up with my employer from a 401k and I'm contemplating rolling it over to an IRA. And I've heard you say that 401ks are protected from lawsuits. And I was wondering if that's true for IRAs. So I did a little research and it looks like it's state specific. And I live in Tennessee and it appears that they are protected against lawsuits in Tennessee.

Am I interpreting that information correctly? Yeah, I believe you are. You know, the U.S. Supreme Court ruled back in 2005 that traditional and Roth IRA assets generally are protected from lawsuits. That does leave the door open a bit, though. The court said IRA money is shielded only to the extent of what might be considered, quote, reasonably necessary to support the IRA owner and his or her dependents. So you'd probably need to have assets pretty far above reasonably necessary to support you to be in danger of having some of your IRA seized in a lawsuit. You're right, though, the state does come into play and most states provide enough protection to keep people from being wiped out by a lawsuit. I think that standard of reasonably necessary would hold up in most cases, but it does come down to each state ultimately. And so to have a definitive answer, I'd probably want to have an attorney in your state look at case law and weigh in specifically on the state of Tennessee. But I would just say at a high level, Gary, I think directionally you're right.

And it's about this standard that was established by the Supreme Court around what's reasonably necessary to support the IRA owner and your dependents. Thank you very much. Great answer. OK, Gary, thank you for calling. We appreciate it, sir. God bless you.

To Fort Myers, Florida. Hi, John. Thanks for calling.

How can I help you? Hey, I have a real quick question. You know, a lot of people say you should own some dividend stocks and that's where you should get income from and maybe some other income generators. And I had a thought and I'm not sure if I'm crazy and I'm just bouncing it off of you, but why not? You know, when a regular stock goes pays a dividend, stock goes X dividend and it drops by the amount of the dividend.

So why not own growth companies and take two percent of three percent a year? The same thing happens. Seems like. Yeah.

I mean, you could certainly do that. The idea, though, is that those those income producing stocks, they do drop drop commensurate to the income that they paid. But usually they recover that. And the idea is that that recurring income for a company that is instead of reinvesting that to try to grow more quickly, that recurring income. And oftentimes it's set fairly high, depending on what type of company you're looking at, maybe a utility or something like that is going to be more stable in nature. So a little less volatility over the long haul. You have that predictable income being paid out.

And if the stock is performing well, the underlying value of the security, even though there is that drop, should recover that and then continue growing, albeit on a slower basis than a growth stock, all things being equal, should still have modest growth for the underlying stock price itself. So I think it really just depends upon what stage you're looking for. A, how much volatility are you willing to accept? What kind of long term potential return do you want to take? And whether or not you want to take that dividend income, which is treated differently than a capital gain from a tax standpoint. So I think you've got to look at all of those things in light of what's a properly diversified portfolio. What are my needs? What stage of life am I in?

And what am I ultimately trying to achieve for my investments? Does that make sense? Well, that's great. I appreciate it. Thanks very much.

OK, very good. We appreciate your call very, very much. And by the way, ordinary dividends are taxed as ordinary income.

Qualified dividends are dividends that meet the requirements to be taxed as capital gains. So there is a difference between those two. And you just have to understand what you're dealing with. We appreciate your call, though, very much. Patricia Stonewall, Oklahoma. Patricia, thank you for calling.

How can I help you? Yes. I started on my Social Security when I was 62. And when I turned about 67, I started drawing off of my ex-husband also because we were married more than 10 years. And then all at once, it was somewhere along that time that I still work and I'm 74 now, but they quit adding to the end of my Social Security at the end of the year. Is that right?

Yeah. Well, the key is you can't draw as you'd probably know, you can't draw benefits from your own work record and claim the spousal benefits to the SSA Social Security Administration will give you the larger of the two, whichever is more. Since you kept working while drawing your own benefits, your high 35 may have been affected, which is, you know, the the determination on what your payout will be based on your highest 35 years of records in terms of what the amount you were paying into the system. So if you were to go back to claiming your benefits and giving up the spousal benefits, you'd likely see the increase at that point. But this would be a great question to pose directly to the SSA, Patricia, because they'll have all of your records in front of you. They'll know kind of what you're entitled to based on your latest work record in terms of your high 35 for your own benefits versus your husband's, your ex-husband's benefits and be able to compare the two and also speak to whether there will be any increases if you were to return to your own benefit.

So you can set up a virtual visit at or perhaps even an in-person visit, depending on what part of the country you're in. I believe they have resumed those. Does that make sense?

Yes, it does. Okay, very good. Well, I appreciate you calling in today. Thanks so much for checking in with us. We appreciate it. And God bless you in the days ahead. 800-525-7000 is the number to call.

It's 800-525-7000. We're going to pause in just a moment for a brief break when we come back. More of your questions today will be talking about I bonds and also a mortgage and whether or not it should be combined with a home equity loan through a refinance.

We'll be talking about that with Steve in Wheeling. Also, Bob Doll, along with us in just a few moments, we'll be talking about the market and other wild ride on the markets down 180 points. Investors thinking about Russia Ukraine tensions, about the Fed's plan for rate hikes, that and more weighing on the markets. It seems like the last several weeks.

It's been a wild ride, which is why we should always be focused on the long term. Hey, let me also remind you before we hit this break, MoneyWise Live is listener supported. That means we rely on your generous support in order to be able to do what we do on the air and through our coaches and the app and on the web every day. If you'd consider being a financial partner, we'd be grateful. Just head to Click the donate button.

You can give one time or monthly. We would certainly be grateful. MoneyWise Live will return after this. Stay with us. Thanks for joining us today on MoneyWise Live where we apply God's wisdom to your financial decisions.

In just a moment, we'll head back to the phones. But first, Bob Doll joins us each Monday with his market commentary. Bob is chief investment officer at Crossmark Global Investments.

You can learn more at Bob, the big story last week. That's the CPI inflation surprise. Were you surprised? Not really.

It was a little worse than the consensus expected, Rob. But there's there just a lot of moving parts that were at seven and a half percent headline and six percent core inflation, the highest reading in 40 years and probably goes a little higher before it peaks. Our guess is this spring, Rob, and then begins to fall. The comparisons get easier.

My guess is we'll end the year with inflation kind of half where we are today, which is still a high number relative to the last 10 years. Yeah, well, it sure is. We're certainly feeling it, among other places, at the gas pumps.

Wow. And, you know, oil up another two dollars today to ninety six and dollars and forty eight cents. Now, some of that, of course, is a result of fears for the Russia Ukraine situation. But supply and demand is what makes commodity prices. And that's what's going on in the oil markets, Rob.

Yeah. More volatility today on the markets. The Dow off 180 points. Certainly the Fed is always front and center in the narrative these days, it seems like. And yet it seems like we're going nowhere fast. I mean, I know they're talking about rate hikes.

We'll see them in March, likely and again throughout the year. But it doesn't seem like the levers they're pulling happen very quickly, do they? You're absolutely right. And that's typical over the decades that the Fed is often late to the party. And look, it's a hard job.

So don't be overly critical. But if inflation is such a problem, let's get going. They at least could stop buying bonds in the open market, which, you know, that's QE, quantitative easing.

That's got to stop. And they've got to get rates off zero when inflation's running, you know, six, seven percent. They're behind the curve, Rob. And I hope they know it because they've got to catch up.

Yeah, no doubt about that. Bob, we often talk about the need to be diversified. You know, there was a tendency in the last couple of years to focus on a very narrow slice of the market focused on growth stocks and in many cases, tech growth stocks. We're seeing the wisdom in diversification through the incredible spread between growth and value stocks now.

Talk about that phenomenon. Yes. So value stocks year to date through today's close down three percent. Growth stocks down 12 percent.

Nine hundred basis points differential. Rob, as we've said before, that's a big number for a year or two, let alone six weeks. And that's what we're looking at. So it doesn't say run out and sell all your growth stocks, but it does say when you get big up days, as we'll get in this market, don't hesitate if you're way overweight. Those big growth stocks will let a little go and recycle the money on big red days on the screen in some of those cheaper value sectors. You know, the two best performing sectors year to date, as you know, Rob, are energy and financials, key among the value constituents.

Yeah. Bob, I know we've got lots of headwinds ahead of us. We've talked about inflation. We've talked about, you know, some of the issues that face us. But we need to be reminded that the economy is still growing at a good clip, right?

It is. GDP this year is not going to be as strong as last year, but is likely to be above trend. Now, there are some bears beginning to say, wait a minute, if interest rates have to move up and inflation is a problem and consumer confidence is falling some, don't be so sure the economy might not have a bump or two this year.

And that could happen, Rob, and that would shake markets a bit. But I think when all comes out, I come back to our theme for the year. Earnings, tailwinds, valuation, headwinds. We expected a modest down year.

We didn't expect this much here in mid-February already. Yeah, no question about it. And if you're a long-term investor, that's still the place to be with your serious money because, Bob, has there been a better place to build wealth over the decades? Not in any large class of asset, for sure not.

Equities have won the race and it's not even been close. Yeah, very good. Bob, we appreciate you, my friend. We'll talk to you next week. God bless. Bye. All right.

Take care. Bob Doll, Chief Investment Officer, Crossmark Global Investments. Learn more about the funds Bob manages at We appreciate his perspective. Back to the phones today.

Mary Kay, Caldwell, Idaho. Go right ahead. Yes, thanks for taking my call. Well, I was in at the bank and I had redid some of my long-term stuff and the guy said if I had any extra money that I should think of I bonds and that what would happen is if the interest rate, it keeps rate with the inflation rate and then if it starts dropping, I can just take it all out and only lose three months of my interest that I got and I can't lose any of my capital. Is that true?

Well, there's one exception to that. You can't cash the I bonds out anytime in the first year. So if you're talking about your emergency fund, it wouldn't be ideal for that. I love the rate and you're right. I mean currently paying about a little over 7% on I bonds backed by the full faith and credit of the United States government. It doesn't get any more safe than that. It doesn't get anywhere close to that in terms of the yield anywhere else and it's because of what we were just talking about with Bob Doll.

Inflation is running rampant higher than it's been in 40 years. But again, you would have to be willing to wait at least 12 months to pull it out and if you do any time after that prior to five years, you just lose the last three months interest when I which I wouldn't be concerned about but if you needed to get to that money for an unexpected expense in a year, it wouldn't be available. Okay, well I have about we have about 17 grand and our house is paid off.

We both have full time jobs and they look very stable. So I was thinking maybe pull 10,000 out and do that and have 7,000 for my emergency fund. You certainly could do that. I mean, I think the reason that three to six months expenses rule of thumb is there is just because we don't know what the future holds. And so if there was an interruption in your job situation, if there was a major expense that you needed to get to, you know, that's just conventional wisdom says, well, if you have three months for five or six months, that's a pretty good base.

So you'd be dipping below that I expect. But as long as you're somewhere close to that three months or if you believe, you know, it's you don't need quite as much. I agree.

I'd love for you to get that higher yield. You just need to recognize that one year limitation. Okay. Got it.

So there's no other catches. That's all because I was reading and reading. And so that's it. Just the year and then the three months, which isn't a big deal. Exactly right. I mean, just keep in mind that that rate is going to adjust. So you may not see that rate a year or two from now. I mean, hopefully inflation begins to trend back down. The Fed's going to be working hard to make sure that's the case. So you'll benefit at the grocery store and at the gas pump, hopefully. But that rate will begin to normalize downward. But you can enjoy it while you get it.

And, you know, as as you and I have said, you'll just give up a small portion of that if you redeem it after a year, but before five. Barry Kay, thanks for listening and calling today. God bless you.

Steve's in Wheeling, Illinois. Steve, thank you for your patience today. You're going to be our final caller. Go right ahead.

Hi, brother. Yeah. Well, I guess you may have gotten some information so far from the very kind lady who took it, Amy, before. But anyhow, I'll kind of recap. I just want to know what I should do between a primary mortgage and a home equity or secondary mortgage if I should combine them or just paying them separately as I am now. OK. Yeah, I think the key would be, does it make sense to refinance the first mortgage? Because that's where we're going to get the most expense in terms of trying to create a new loan that would replace it.

And we just need to make sure that you're going to save enough to offset the cost, which is often, you know, two to three percent or more of the loan value in expenses that you'd need to offset with savings in interest. So tell me about that primary mortgage that you have. How many years left on it and what interest rate? Yeah, well, the interest rate I have on it is four and a half percent.

And I have 20 years left. I paid down 10 years on it. It was a 30 year mortgage. Now it's down to 20 years left at a four and a half percent.

All right. And how much do you owe on it today, roughly? Let's say I would owe, I would say, one hundred and thirty nine thousand. OK. And tell me about that home equity line of credit or home equity loan that you have. The balance on that is twenty eight thousand.

And what's the interest rate? That's the same one, about roughly about four and a half percent. And I have 20 years left on that as well. Oh, I see. OK. Yeah.

It makes sense to me that you might replace both of these with a new mortgage. Are you planning to stay in this home for the foreseeable future? I am, as long as the Lord keeps me alive to like a home to be with him. Yeah, I probably am. Yes.

Very good. Well, my rule of thumb here is if you can save at least a point, preferably a point and a quarter, which you should be able to do if you have good credit, then and you're going to stay in this home for, you know, five to seven years. You should be able to cover the cost of the refinance through the interest savings. It'll take some time.

But eventually you will. I wouldn't go more than a new 20 year mortgage. I mean, you could go 30 and pay it as a 20 year, but you're going to get a higher rate. I'd rather you go a full 20 year mortgage, get as low a rate as you can and then combine these two into one and then just stay after it. And eventually you'll recoup the cost of the mortgage and through the savings on the interest and then be in better shape moving forward.

Get at least three bids, Steve, one from perhaps your local bank or lender, and at least two from an online lender at That will tell you who you should contact. We appreciate you checking in with us today. God bless you, sir. That's going to do it for us. MoneyWise Live is a partnership between Moody Radio and MoneyWise Media.

Thank you to Dan Anderson, our engineer, Amy Rios, producer, and Mr. Jim Henry, who provided research for us today. Come back and join us tomorrow. We'll see you then. Bye-bye.
Whisper: medium.en / 2023-06-04 21:51:20 / 2023-06-04 22:02:14 / 11

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