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Excuses for Not Budgeting

MoneyWise / Rob West and Steve Moore
The Truth Network Radio
May 13, 2022 5:41 pm

Excuses for Not Budgeting

MoneyWise / Rob West and Steve Moore

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May 13, 2022 5:41 pm

Having a budget is the only way to get control of your finances. So, why do some people still come up with excuses for not having one? On today's MoneyWise Live, host Rob West will share some of the top excuses he’s heard for not having a spending plan in place. Then he’ll answer your calls and questions on various financial topics. 

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Rob West and Steve Moore

How do you forgive, particularly when his grandfather Brian Dahlen in a brand-new podcast called grandfather. I hope to find out it over to the grandfather subscribed to sit down to write a book about excuses You said it was too hard. His laptop kept crashing that it would never get published anyway, was it's easy to come up with excuses when it comes to not having a budget well around here we've probably heard them all give you some of the top excuses for not having a spending plan today limits on your calls at 800-525-7000 800-525-7000 number 24 seven moneywise live wisdom for your financial so kidding aside, we wait to get control of your finances, not to mention it will help you sleep better at night without a lot of nonblood jitters don't realize is that most people eventually do get around to living on a budget. The trick is to set up a plan for spending wisely before you're forced to buy overwhelming debt.

Okay, let's get into our top excuses for not having a budget first up, I stink in math, so I can't budget. Sorry you don't have to be Albert Einstein to set up a spending plan. The free moneywise app not only gives you three different options for setting up a spending plan. It does all the math for you. Download it wherever you get your absent search for moneywise biblical finance another top excuses my job secure so I don't have to budget okay. We still have a low unemployment rate in workers are in great demand, but that doesn't mean your job is bulletproof. Companies fail and people get laid off every day no matter what the economy is doing.

That's why everyone needs 3 to 6 months living expenses in their emergency fund. And that's just about impossible without a spending plan. Here's another one I can always fall back on unemployment benefits. If I lose my job if you checked out unemployment benefits in your state. There usually just a fraction of your regular income and oh by the way they run out. If you are living on a budget and saving. You can make any income go much further. How about this one. It won't happen to me. Talk about putting your head in the sand. We live in a fallen world and bad things happen to people all the time in Matthew five we find, for he makes his sun rise on the evil and on the good, and sends rain on the just and on the unjust. So again you have to be prepared with a budget and an emergency fund. Now some folks cringe just hearing the word budget. They say things like a budget means you can have any fun. Well, so don't call it a budget. We like spending plan better anyway. And if you stick to one for a few months you'll see that just the opposite is true. Living on a spending plan is actually liberating. You have the same amount of money you're just deciding ahead of time where it goes. So you still get to enjoy life even more so because you're not running out of money or going into a lot of debt to do it a spending plan means peace of mind that Friday night pizza tastes even better when it's in your spending plan.

Now here's an excuse that in many cases is actually true it's I'm afraid to set up a spending plan. Those folks don't want to find out how much they been spending on things they don't really need, but you have to face up to it. To enjoy the reward in John eight, Jesus says you will know the truth and the truth will set you free.

You'll probably be shocked to find out how much you spend on things like groceries and eating out, but that's a good thing because it gives you something to work with by trimming and planning your meals. You can free up a lot of discretionary income that you can put to better use. Here's another excuse for not budgeting that we hear a lot. I've tried to budget and it didn't work well.

That shouldn't be a surprise. What life-changing practices work the first time you try them. So, try, try again and be encouraged that learning to live on a spending plan truly will change your life for the better. Just brush yourself off and keep trying.

Okay, last one I don't need to budget because I've always got money left over each month.

Well, that may be true for now but it's usually temporary. There's something called lifestyle creep. It means the more money you have available.

The more you spend raises and tax refunds get gobbled up quickly.

Then if you suffer a loss of income you wish you had that money. If God has blessed you with more than you need right now that's even more reason to use it wisely. A spending plan will help you be more intentional about your giving it's all God's money. Anyway, we should always use it to give him glory.

So those are your top excuses for not living on a budget. We hope you're not using any of the by the way, if you need help setting up a budget, you can sign up with one of our volunteer and again download the moneywise app in your app store search for moneywise. Biblical finance your calls and asked 800-525-7000 Rob West and this is moneywise live right back in the moneywise live wisdom for your financial decisions. Rob West euros per sludge along with us today and we got slides open would love to hear from you the number to call to get in on the conversation is 800-525-7000 800-525-7000 that we started today by talking about what's going on in the world of budgeting and why. Perhaps you are not budgeting.

If you'd like to get started budgeting well and easy way to do that is with the moneywise app would love for you to download it. Check it out. Use one of our three different systems for managing money.

One perhaps uniquely suited to your personality. You'll find it in your app store to search for moneywise biblical finance and you can get started today by the way, we have coaches that will help you get it set up. Get your spending plan worked out and walk with you in that journey again in your app store search for moneywise biblical finance are at 800-525-7000. Let's head to the phones Illinois Stephanie, thank you for calling the redhead will help out doing our you and I want you find out it would be cute or you my own bank company that offering I repaired my money going down the bank.

Eric P to care for their well being your Internet site.

That's a great question.

I'd probably shop it around.

The key is what is the rate you're looking yes the fees are important, but then also the term, and you would be looking for. No prepayment penalties so that even if you got a term that was longer than seven years you can certainly match it you right now if you and look at your perhaps the very best loan programs out there you'll find you could get a home equity loan around 5 1/2% somewhere between 5 1/2 and 6%, depending upon what type of interest is usually what your credit score is and I think the key is you know you're just looking to get that as low as possible and you can probably do better than 7%. You do need to compare the total cost and they'll give you a you a document that will provide you all of those cost to make sure that you arts accruing additional costs and then you could just compare the total amount that you spend over the life of the loan versus you know what they're offering by financing it quoted quote in-house and you may find that if the rates are comparable, that you may have some additional fees with a home equity loan that would push it above what they're offering but it's certainly worth doing your homework so I would get them to give you all the details of exactly what that APR is annual percentage rate.

Any fees that they'll be adding to it and then look for yield three different or perhaps to others at a minimum offers online, probably with the online lenders probably online banks and bank would be a great place to go to look at that. If I were you Stephanie I be looking for home equity loan rates not home equity line of credit rates. The reason being a line of credit is going to make a certain amount available to you.

It will continue to be available. You can use it, pay it back. As long as the lines open. That's convenient. The challenges could have a variable interest rate, especially in this rising interest rate environment.

We don't want a variable interest rate. You want a fixed rate which would come with a home equity loan read get a specific amount specifically tied to the purpose of this renovation and the dollar amount that's necessary.

But the key is you have the ability to compare these offers to what the up financing is being made available through the company to set make sense look out much fear I preach. Absolutely Stephanie all the best. You guys make sure you do the homework to make sure it fits in the budget with whatever direction you go before you do it.

God bless you.

Let's head to Ohio W CRF Annie, thank you for calling the redhead sound advice people. Well, you may get it right sometimes and I doled who knows right. $40,000 IRA. I wanted to get chance Vanguard years and I just drag my feet. I finally get it q. week to Carol and that the bank that I had IRA at me hundred 75 chip transfer is not exorbitant. I think it is that I don't know why it's what you say. Hearing you say they can charge whatever they want and that's the truth you will find the transfer fees. That is normal and customary they will vary is $175 transfer fee. A little high yet probably I would've expected to be some around 50 or hundred dollars but you obviously it's have you in the fine print somewhere they would tell you that there be if you try to transfer it out. There's going to be a fee imposes probably not a whole lot you could do you.

You can ask them to waive it never hurts to ask.

But if they don't or won't probably hold. Not a whole lot of recourse. It is $40,000. It's a you know a negligible amount of money. I'm not saying it's insignificant but versus know what's there and I think what's most important.

Any is that you get it somewhere where you feel like you've got a good relationship with somebody or at the very least, you have access to very high quality, low cost investments that will be right for you moving forward so you can get this money position. The way you want it according to your age and risk tolerance and just let it go and if we had a recession year from now. As long as your time horizon is right long as you're in the right investments just keep going. In fact, to be a great opportunity for you to continue to contribute to this IRA because as you invest now. You're certainly buying in at points lower than three months ago or six. And that's a good thing we don't always want to buy at the top, but as you dollar cost average, and with additional contributions that are then invested your gimmick pick up note, more shares at lower prices, which, as the economy rebounds in the market moves higher whenever that is. For the next bull market which is historically the way the market works in cycles. You will be ready to to capture the upside, but again you gotta keep a long time horizon and I think you being with the company that you're satisfied with with good quality investments is probably more important than the fee that's a bit annoying but nevertheless is pretty typical.

Okay thank you rat okay headache. I bless you.

Thanks for going today. Well folks have Artie covered a lot of ground that we still got more to go, and I've got a few lines open so I love to hear from you. We got some great questions coming up on bond funds and pension plans somebody has retired and want to know about that how you budget income will be without plus your questions. 800-525-7000 lines open why God's wisdom to your financial decisions and choices as to that together as we do each afternoon here moneywise. My legs are turning into moneywise live wisdom for your financial decision is a moneywise light is listener supported.

That means we do what we do as a result of your financial support and if you'd like to perhaps consider a gift to the ministry we be grateful it's a 501(c)(3) not-for-profit organization which means your gift may be tax-deductible, and we'd love for you to consider giving today. You can do that it moneywise.or just click the donate button you can give online you can find the a mailing address to send a check through the mail to our team or call toll-free and somebody will be able to take your gift over the phone again just click donate. Thank you in advance hard. Let's head back to the phones by the way, just a few lines open today 800-525-7000 and head to Indiana Paul, thank you for calling circle redhead my question. I think you're taking my call. Sure, my question relates to the use of the three year deferred annuities versus bond fund and IRAs. It was suggested to me that I convert some of my bond funds under this current environment to the three year fixed deferred annuities that have no fees, and in my IRA tonight didn't know what the downside of that might be. I hadn't thought about is not necessarily a downside, it means that one of the benefits of an annuity is it's a tax-deferred environment so your Artie got it in the tax-deferred environments are really the question is not in the tax benefit there. It's really about whether or not you you're going to get the right return with the proper amount of safety that you're looking for you. One of the reasons you may have been suggested to do that is because you were seeing as interest rates, head up front bond prices are falling, so that the bond funds that your inner probably declining, declining in value even though you can continue to earn some interest as those bonds are paid back of the interest is paid back to the fund and then distributed to you versus a fixed annuity where you know you might be guaranteed.

I don't know what they're going guarantee you, maybe 3 1/2. Somewhere upwards of 4% a year and you know if that matches the return you're looking for and you know you are willing to come turn over the money, so to speak and lose some access to it without surrender charges and you want to transfer the risk of the overall performance of the portfolio to the insurance company as opposed to assuming that yourself, then it can be a good option in that season of life if that's what you're looking for a guaranteed return with with no downside. You have the opportunity you have in your outside of an annuity. When you invest through an IRA would be to say okay were going to position the portfolio in a way it's going to potentially earn a little bit more over the long haul. You know it can have some volatility and yes you can have risk to the downside, both in the bonds as well as the note perhaps a smaller stock allocation but you have full access to your money and you get to enjoy 100% of the upside based on the investment strategy but you have to be willing to accept kind of the ebbs and flows along the way, especially in a choppy market right now, which can make retirees a bit anxious so you know it's certainly something to consider.

I wouldn't say eliminate that option. I would just say no is not going to satisfy you over the long haul that return and giving up some ill access liquidity to the money or would you rather keep that outside it. Have a well thought out investment strategy perhaps managed by somebody else, but still have full access to the money all so right yeah so on and it was suggested okay so take it for three years when the bond funds probably could be losing value. Yeah, I think you would just be what is your what's gonna happen at the end of that three years with this annuity and is there still going to be a surrender charge. If you wanted to pull it back out.

You have the IRA is just the vehicle that keeps the taxes from impacting the investments inside it. So think of it as the umbrella in the rain as the taxes coming down and the umbrella causes the taxes to slip off the sides around the investment so it doesn't impact the underlying investments and then you have to choose what type of investment you want inside that IRA and you're saying today you have bond funds and you look be looking at exchanging that for a fixed annuity and I think the key is you just gotta compare giving up access to the funds with a guaranteed rate of return is that what you make me happy and accomplish my goals and objectives and then what's the cost to get that money back out at some point in the future.

One year three years five years down the road and that surrender charge will go away. At some point, but you need understand what that is versus being able to invest it inside the portfolio having full access to all types of investments in which during in a market like this.

Not only would be looking at staying with a small allocation to stocks, but you could look at federal bond funds municipal bond funds, corporate bonds, money markets, you could look at utility, mutual funds and dividend paying funds means that there's all kinds of options that could be used.

To build a properly diversified portfolio, but at the end of the day.

There is risk associated with it.

If you want to eliminate that. I think that's where this fixed annuity could be a great option for you okay thanks all right you're very welcome at all. Thanks for going today.

I got blessed.

Let's head to Chattanooga next Patty, thank you for going to redhead what had gentlemen before me at 90 that would mind can program it being terminated and we Until Jean the third, for one, either a lack to do a lot since late payments or go to an annuity with an insurance company and am 65 years old hoping to retire. My goal with when my house is paid off and I'm hoping in the next 10 years that will be possible. Want to retire heaven, so I doubt I'm struggling and I were to my 401(k) that Dan I got an IRA. Maybe I should get an IRA or either go with that annuity.

Eric growing to the 401(k) is a great option. That's a 401(k) that's are in place and are you actively contributing to that currently you are okay and it's with the same company that where the pensions being eliminated five minutes provided by your current employer. So what I would do is roll into that 401(k) you got all the funds together and then when you're ready to retire. That's the time to roll it all out to an IRA, you can make your investment decisions. At that point, take a break right back with us today or moneywise/looking for financial advisors shares your values, but also has met high standards and experience competency in character, but we trust the certify can visor designation. Hope you will to your website click find the CK to locate a certified kingdom advisor in your area are back to the funds we go by the way, we got slides open perhaps one for you. We'd love to hear from you at 800-525-7000 you can call right now. Our team is standing by South Florida's where Carlos is located waiting patiently go redheads are. Thank you so much for my call so my mom is up purchasing a vehicle for cash purchase through an auction auction broker and I'm just trying to help her to see what will be the best option being that gas prices are so I am kinda looking into the possibility of one of those hybrid vehicles and I just wanted to get your take on that because there's just so many different variables you know the battery expensive and now you know versus so, like a trade-off going to get the money on the gas but then you have to pay a high price for the battery but her sake on that yeah yeah well I think the key would be to the battery point is to get a warranty on that battery. No hybrid cars come with a special battery which means it's more expensive to replace. So I would try to find a warranty on it. Of course if you're buying used. You always want to track the car's history and look into buying precertified all that you're buying from an auction, you know that's not gonna be an option but at least understand what it is and be able to review the service record test drive to be vehicle if I'd have an independent hybrid expert do an inspection. If you have the ability to do that just to be able to check it out and then I perhaps might get her to go try a few hybrids just to experience the differences you know some people say the acceleration feels a little different, maybe even slightly delayed the breaking feels different because it's grabbing the inner inertia energy and putting it into the battery in your some people like the sounds that they make.

So I think you just need to make sure she's perhaps experience that. But you clearly with gas prices where they are right now I think there's a benefit to having you know that the hybrid and not relying solely on gasoline. You also need to take into account the location now. It could be that for her if she's in South Florida.

That's not as big of a deal, but the mileage for these cars is and is good in the winter because they're less of less efficient in the cold so hopefully that gives you some things to think about and talk to her about so she can go maybe test drive something before she makes a decision, get it reviewed thoroughly look for that warranty on the battery and and then make a decision at that point but I'm glad you're walking alongside her in this decision. I'm sure it's a big one. And sure she's grateful for your assistance. Thanks for your call today at Greensburg Indiana Leah thank you for going to redhead Sandra signed with pretty good interest and I just wanted to know more how to get a hold of that yeah what we were probably talking about Leo.

What are called bonds, which stands for inflation bonds that are issued by the United States government so backed by the full faith and credit of the US government there bonds pegged to inflation, with there's two components that make up the rate one that's tied to CPI. Can the consumer price index and because of this environment were in right now, with inflation being right really high higher than it's been 40 years. These things are paying an incredible rate. In fact, right now it's at 9.6% per year. Now that adjusts every six months so that particular rate is good and through October of this year, at which point it will adjust again based on inflation. The CPI and it will likely come down some but still be I would think a great rate because most economists thanks think elevated inflation that is inflation above our target of around 2% will be above that for some time so I could be a great option. The only potential drawback Leah is you can only put in up to $10,000 there's a way to get an additional 5000 and through tax refund, but essentially you can only put in 10,000, so it be great if you could put in a lot more than that, but at least it's something and you have to hold them for at least a year so you can get the money back for 12 months. If you take it out within five years after year, but before five you give up the three months worth of interest so whatever that total interest is for the year you take three months of that and you give that up when you take it out, but other than that it's essentially risk-free because it's backed by the US government and it's paying a credible interest rate when you compare it to anything else. So where you would get visas on the treasury the US treasury's website that they have for bond purchases, which is called treasury treasury and you cannot you do it all electronically.

You would transfer the money and with your routing number and bank information and to buy the bonds and you can put in up to 10,000 a year as a make sense technically not a sharp turn member or friend that could navigate this for you, possibly okay. I was treasury direct all one word.GOP which is the web extension for the US government. Yet treasury and then you'd want to find the eye bonds and you'd want to buy $10,000 worth of bonds and I think having somebody perhaps help you navigate this weather to friend from church or a family member get a lot of times you know teenagers are really good at this kind of stuff because that's so second nature to them. If you have a grandchild or something like that. But nevertheless, I think this could be a great great option for you.

And these are paying for nominal interest rates and with the safety backed by the US government you can be that so definitely something to look at Lee and I'm glad you called today. God bless you to Tennessee we go hey Jessica, thanks for calling the redhead I'm doing great, all about $10,000 that just having a regular and I was wonder where can I put the money to make like that better interest rate or more) on the money. All you need to get to it with perhaps quicker than a year from now is a right okay so I just be looking at a high-yield savings account you right now they're paying most of them the online banks are paying around .6% .60 so little more than one half of 1%. You may find them as high as .7%, but as interest rates had higher and they will continue to move up the federal reserve Chairman Powell is Artie said to see multiple rate increases this year and as the Fed funds rate moves up the savings interest rates will move up as well. It's already begun to happen so I go online to either for capital one 364 now.

I think any one of those three year online banks have FDIC insurance in the US government and other give you no use for a savings account electronically to your checking account wherever you bank and put it in their high yield savings save completely liquid get at least a decent interest rate, given the time horizon.

That's about all will be right back. He was loves to join us today and moneywise lover grateful to have you along with us today.

Take your calls and questions on anything financial relative right back to the phones. Nick is in Chicago. Nick redheads are rub your till I like it and I noticed that you often mention giving money to the God and so outside of tithing. Kurt, I was wondering like how that wouldn't have a good manifest in another way that you can't directly to give money to God, but but but could you give some examples are recommendations or yes yeah well are you talking specifically about financial gifts. Are you also looking about, talking about how to be generous in other ways non-financially. I suppose that I was I was primarily think of money. Okay. Well, I think the starting point is to recognize Nick as we realize our role is that of steward or manager of God's resources and therefore he's the owner. The question is we want to reflect his heart right we think about the parable of the talents that the stewards of those talents that were they were entrusted by the master, the one who invested 10 in the five talents knew the heart of the master they knew what he would do with the money and they purposed themselves to align their handling of those monies with his heart and we look at the heart of our father.

We serve an incredibly generous God in all this belongs to him yet. He's the ultimate giver. He gave us his son right that we might be reconciled back to him through his son's death and resurrection, and so he's incredibly generous and he gives bountifully and so I like to say were most like him when were giving so I think that's the beginning point that if we want to reflect the heart of the owner, which is God himself. As we manage his resources, then clearly were going to be generous and I think that's the starting point, you know. So often we look at the role of the money that God entrusted to us first as that which we used to provide for our families and certainly there's an element of that to it, but if we start with provision were never going to get past our endless list of needs and wants to really what I think is clearly on the heart of God and that is the opportunity to be generous to hold it loosely and to give generously and to be a pipeline into God's activity as opposed to a reservoir where God's provision stops with us so we start there than it changes the question. The question is not how much should I get out of the question becomes how much should I keep right and so if we begin there.

Then we say will Lord what would you have me to keep to use on my lifestyle and providing for my family and therefore I should be. Perhaps getting a lot more because it's not the 10% belongs to God and 90% is ours. It's all his, so I think the generosity opportunity is really a chance that God gives us as a blessing to us because of the joy that follows, to be connected back into his activities. So it's not a matter it's not a matter of me or anyone else telling you how much you need to give it's not about checking the box to say I gave my 10% tied so I'm done. It's about you being I think on your knees just like all of us sing, Lord, what would you have me to do and how much should I keep because I want to be as generous as I can because my brief stay on this earth before you call me home is just a vapor, but where I can have the most significance is when I connect my story integrate God's grand story which is from everlasting to everlasting and that's where I can have purpose and meaning through my relationship with Jesus, but also as I use his resources to connect to his activity. So what is that look like for you. I think it means praying and asking the Lord what should I do systematically, how much should I be giving just as a regular course of your provision. What should I make available spontaneously that the way you give to the maximum is you have a plan to do it. And often times that's going to involve giving off your balance sheet instead of cash because that's where 90% of our wealth is held so it's businesses in stock portfolios and assets not cash in income and the only we were to do that is to have a plan to be able to do that and build that in and what I have experienced is that as you experience the joy that comes from being able to be generous in being a part of God's activity that it's only a matter of time before your reordering your finances so you can do even more because money is just a tool. It's a means to an end and that end is most powerful, most effective when it's something other than us. So what is that look like for you and for me while that's a question I think we each have to answer with the Lord. But when we have a kingdom vision for giving. We have a plan to give maximally and we have relationships around us that are encouraging us in our generosity. It's incredible to see what can be done and then we begin to read the stories of people like RG Letourneau who did what I call a reverse tithe where he essentially gave away 90% and lived on Tandon and a gentleman name Alan Barnhart go Google him he you US grain and rigging you sent hundreds of millions of dollars to missions all over the world because he made a decision when he was just starting, not after he had made a fortune when he was just starting that he wanted to live on the median income for his city and he was going to give 100% of the way he actually signed his business over to the Lord through a donor advised fund and guys just blasted and he's been able to give just hundreds of millions of dollars away nanosecond each of our stories. But the question is what is our role in what is God calling us to do and that's something I think we need to take to him in prayer. But I've thrown a lot at Jeanette give me your thoughts while you have what I think. I think you answered my question and so what I was looking for guest was what I understood what you were saying that it is as it may be to try to get in contact with God and see the your purposes lie and I think I think that was the answer that I was looking for but your answer was very comprehensive and it was good and and and that's that's all that I was looking for and I thank you for well thing I would say is just begin to read the Scriptures and this whole theme of generosity will just jump off the page at you.

In fact, I'd love to send you a gift today. Nick just for being a part of the program. It's called the stewardship Bible.

It's a project that are friends of the American Bible Society did with compass, finances, God's way years ago. It's a beautiful Bible but it's actually every passage that relates to money and possessions is highlighted in green.

And so, as you just read through the Scriptures, not commentaries. In somebody's opinion just God's word, but through as you see those highlighted passages, I think you'll begin to see this theme, jump off the page and maybe as you meditate on Scripture and think through what God would have you to do in this area generosity. It'll be something that would really be powerful. The last thing I will recommend to you because you're interested in this area and want to explore it, and I mean this for everybody who's listening right now. One of the most powerful tools there is for you to go on a journey with God in this area of generosity is a 24 hour experience put on by our friends at generous giving which is a ministry located in Orlando, but they been around for decades.

Many of you probably never heard of them, and they have something called a journey of generosity. It's a 24 hour experience with usually 8 to 12 other people where you just explore this.

These ideas of about generosity and it's incredible and it will change your whole view on this. So I go to generous to read more about generous giving you can watch some of their videos and stories and then check out the journey of generosity, which is that 24 hour experience. I was talking about and make you stand. The line will get your information to get that stewardship Bible right out to you and thank you for calling and I'm glad your new listener artwork head to Florida.

That's percent is located. You go right ahead. I better yeah so Cynthia, you're obviously ended in a three have to take this out this year.

Correct okay great and that the person that you're taking it out is are you can be pulling it out of the money market of the cash portion are you actually having to liquidate investments to do it. Okay. All right.

Great love guides don't have some wonderful faith-based investment options. I would probably just go and do it. I mean, I think this were to be in for a pretty choppy market this year.

A lot of experts think in the next year working at it a recession which don't let that scare you that just means two consecutive quarters of declining growth here in this country we go through them in every 12 or so years and it's been a while since we've had one that usually last 11 months on average will get through it moved to higher ground but yeah I would say this is probably a good time for you to go ahead and and do the RMD.

The only other thing I would consider is are you familiar with something called a qualified charitable distribution. Okay so I just throw this out.

You can talk to our friends at guides don't about this, but if you normally do your giving out of cash.

So you write a check to your church every week or every month and you might send a check to a ministry or charity that you love if you normally do that out of your checking account. You can actually do that from your IRA and satisfy your required minimum distribution at the same time, the benefit is that's not added to your AGI, your adjusted gross income for the year as it normally would be. When you take it out for the RMD so you get the money to the charity they get the full benefit of the amount of the amount you're doing the same giving you were going to do anyway but you don't incur any additional taxes that make sense now. Okay I will. I wasn't aware that okay well I think back to your original question this to be a great time to do it, especially in light of what were we might be in for this year with some of the stock market returns to think through the cultivation of bless you everything you say.

Thank you. My team today.

I can do without them getting tea producing today so thankful for her Anderson engineering Jim Henley providing research phones today with Melody, but he was not as he was putting up with my voice

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