Nail Your Next Job Interview

Career experts like to say there's no such thing as job security, but there is employment security.

Hi, I'm Rob West. Having employment security means always sharpening your skills, and part of that is preparing for your next job interview so you can be relaxed, confident, and ready for anything. I'll tell you how to do it today, and then it's on to your calls at 800-525-7000.

That's 800-525-7000. This is Faith and Finance Live, biblical wisdom for your financial decisions. Well despite fears of a coming recession, employers are still hiring and there are still more jobs than workers. There's no better time to try for that dream job you've always wanted. But just because the labor market's in your favor doesn't mean you can go into an interview unprepared. If it's an in-person interview, of course you want to dress well and have a neat appearance. If it's a video interview, as more and more are these days, that still applies. But there's more to getting a remote interview off to a good start. Choose a setting in your home that's quiet so you won't be disturbed.

Make sure the background is well organized and uncluttered. Keep your pets out of the room. You don't want your cat climbing up in your lap during the interview. Now, it's when the interview begins that preparation will really pay off, because you'll probably be asked some tough questions.

But these are often standard and you should be ready for them. Keep in mind, interviewers don't want to trip you up. They ask tough, thoughtful questions, hoping you'll give a good answer. One of the most common questions is, where do you see yourself in five years? Don't try to be clever by saying, I'd like to have your job.

That's a good way to eliminate yourself from the running. Instead, use the five-year question as an opportunity to show that you're motivated to do good work and succeed. It's okay to say you'd like to be in a different position than the one you're applying for, maybe one that gives you more responsibility and a chance to grow professionally. For example, maybe your career field has different levels of proficiency that require more certifications. You can talk about how you'd like to obtain them and how that extra training will help the company.

Here's another tricky question you may be asked. Why do you want to leave your current job? Here's where a lot of applicants get tripped up. Always speak well of your current employer. It'll let the recruiter know you're loyal and grateful for the opportunities you've been given. Never say something like, you're looking for a shorter commute or a better health plan.

The recruiter will think you'll probably leave this job for a similar reason. Instead, keep it positive. Give a few reasons why your current company is a great place to work, but your employer isn't able to give you the opportunity to be a more valuable employee.

You can then talk about your career goals and how you want to contribute more. If you're asked, what's your greatest weakness? Be honest, but try to turn the conversation in a positive direction, even if it's about a weakness. For example, you might say, I sometimes tend to say yes when I'm already maxed out work-wise. You can turn that positive by showing how you're learning to set priorities and then give an example. That way, you make it about your strengths. Whatever weakness you choose to answer with, show how you're working to overcome it. Another question you need to prepare for is, why should I hire you? Don't say, because I'm a hard worker or I have people skills.

Those things are far too general and they're assumed. You need to be a lot more specific. Talk about how hiring you would be good for the company in precise ways. Go over your resume in advance and highlight three things you've done to make an operation more efficient, increase revenue, or reduce overhead for your current company or ministry.

Do some research ahead of time so you're able to point out how those skills will help with a new company. Finally, the most important preparation you can do is pray. Ask the Holy Spirit for the right words to say. Meditate on Jeremiah 29-11, for I know the plans I have for you, declares the Lord. Plans to prosper you and not to harm you. Plans to give you a hope and a future. Proverbs 3, 5, and 6 is another helpful passage. It reads, trust in the Lord with all your heart and do not lean on your own understanding.

In all your ways, acknowledge him and he will make your path straight. I'm confident the Lord has just what you're looking for. All right, your calls are next, 800-525-7000.

You can call that number 24-7-800-525-7000. And before we take our first break, let me also remind you, there's a great wealth of resources waiting for you at faithfi.com. That's faithfi.com. You'll find more about the Faithfi app, which can help you manage your budget and stay on track. You'll find all of our great content, and you can jump into the Faithfi community. Post your questions, get answers, and help another steward along the way. Again, it's all at faithfi.com.

Stick around, much more to come just around the corner. Great to have you with us today on Faith and Finance Live. I'm Rob West, your host. All right, it's time to take your calls and questions today on anything financial. We'd love to hear from you. The number to call is 800-525-7000.

That's 800-525-7000. We've got a few lines open, and we'd love to tackle whatever you're thinking about. Perhaps there's a question that's been kind of rolling around in your mind over the weekend, and you'd like to run it through the lens of biblical wisdom so we can help you apply God's principles to the decisions and choices you're making. You know, as we think about managing money God's way, it's got to start not with just how-to's to improve our financial situation. It has to start at the core with our identity. Who are we in Christ? And make sure that we're pursuing Him with full surrender, and then seeing money as a tool to accomplish His purposes. And when we start there, realizing the abundance that we have in Christ, then our money takes its proper role. We see ourselves as managers. Then we can apply the principles from God's Word that are throughout Scripture, the big themes and ideas, and ultimately apply it very practically to the actual decisions and choices you're making. That's what we want to do here in a hopeful and encouraging way on this program each day. All right, we'd love to hear from you.

800-525-7000. By the way, before we drop into our calls today, let me mention there's some headlines today out from Apple regarding savings. That's right, Apple's come out with a way to get a better interest rate on your savings.

Listen to this. They launched their Apple Card some time ago, but today they announced their savings account that goes along with the Apple Card, and it's paying 4.15% annually. No minimum deposit or balance, and you can open an account from the iPhone Wallet app.

Pretty interesting. Now, the catch is you have to have an Apple credit card to open the savings account, but a nice feature is that all of the Apple Card's daily cash rewards will go straight into that savings account, and the card pays 3% cash back on purchases. So while the Apple savings account interest rate is high compared to brick-and-mortar banks, it's not the highest in the digital sphere.

There's actually some out there right now as high as 4.75% with a minimum deposit, but Apple's entered this space in a big way and certainly something to take note of, so we hope that's helpful to you. All right, let's head to the phone. Speaking of savings accounts and how to handle God's money, I think Gail has a question along those lines in Alabama. Gail, go right ahead.

Yes, thank you for taking my call. My question is, I'm 70, my husband's 77. We're both drawing retirement. It's about $2,000 a month. I still work part-time, and we had about $125,000 in savings, and I drew out $25,000 about three or four months ago and put in a CD, and it's drawing really good. And my question is, should I draw out maybe every six months and put $25,000 in a CD because I'm not drawing anything off of my savings. I do have one IRA that when it matured, I rolled it over into annuity, and it's drawing like almost 3%, but someday when I'm not able to work part-time, we'll have to live off of our savings. So I don't see in the, we don't owe anything but just living expenses, but I'm a little nervous about, I don't foresee us having to draw out our savings, but it's just 15 months, the CDs are, and right now they're paying pretty good.

Yeah, that's right. Well, I think the first question is to decide whether you want this completely secure and you're looking for bank-type products, or you want to take a little bit of risk to get a better return. The idea would be, even at 80 years old, the rule of thumb would tell you you might want as much as 30% in stocks because that's going to give you a growth component, and then you might put the balance maybe 70% in a mix of both bonds and other type of cash equivalents like CDs or high-yield savings accounts or money markets, and that the combination of that portfolio, savings, money markets, CDs, bonds, and then a small allocation to stocks would allow you to grow this portfolio, overcome the effects of inflation, and yet still be far less volatile than the broad stock market, and so if the market's down in any given year, you're going to be down a lot less than the market. But you also may say, vis-a-vis your CDs and even the annuity you mentioned, that you just don't want to take any risk. You're not comfortable with that, and if that's the case, then this is an opportunity to take advantage of both high-yield savings and CDs. You mentioned CDs north of 5%, which you're exactly right.

You don't even have to go out as much as 18 months to get that. You can also get, well as I mentioned a moment ago with high-yield savings, you can get 4% plus in a high-yield savings account, in some cases with no minimums, no fees, the money is completely liquid. So there's no reason for you to leave it in a brick-and-mortar savings account another day if you don't have to because you're going to earn the average of probably less than 0.3%.

It might even be far less than that where you're essentially earning nothing. And with FDIC insurance and complete liquidity, meaning it's backed by the full faith and credit of the United States government and you can get to it at any time, you could open a high-yield savings account with an online bank, link it to your checking account, and with a free transfer through the ACH system, have access to your money within 24 hours or 48 at the most. So give me your thoughts on all of those ideas and perhaps which you think might be the best fit for you. I hadn't thought about the high-yield savings account. I'm not real good on computers, but my children are, so I'm sure they would help me.

But yeah, I was just excited about what I was making on the CD, so I was thinking I might just stagger it out. But yeah, I'll look into the high-yield savings account. Yeah, so one option would be that I mentioned a lot is Marcus, M-A-R-C-U-S dot com, FDIC insured.

It's the Goldman Sachs retail division. They're paying 3.9% on their savings account. As interest rates continue to move up, it'll move up with it. It's no fees.

It's completely protected by the U.S. government up to $250,000, and you can have free same-day transfers of $100,000 or less to other banks. So you could link that to your checking account. One of your family members could help you set that up. And then I like the idea of what's called a laddered CD, and this is what you were referring to, Gail. You could put a third of what's remaining outside of savings, and I'd keep at least three to six months expenses in savings at 3.9%, maybe even 4%. But the rest, you could ladder it out and maybe a third of it in a six-month CD, a third in a year, a third in 18 months. And then every six months, you'd have a third of it coming due, and you could roll it over into a new 18 months.

So you're only six months away from a third of your money at any given point. So that might be another approach to think about. Does that sound good?

That sounds good. You've been very helpful. Thank you so much. Well, you're welcome, Gail. Thank you for calling today.

We appreciate you being on the program. 800-525-7000 is the number to call. We're going to get back to the phones in just a moment. We do have a few lines open. Perhaps you have a question today. Again, 800-525-7000. Coming up a little later in the broadcast, Bob Dahl will stop by and share his market analysis on what he's looking at, thinking about as we start a new week in the markets.

We'll also talk about, well, this email from Brian. He's wondering, for a family of five, what's the right budget percentage for spending on groceries and household items? He says we're spending over $2,300 a month. What I would say, Brian, is 12% of your budget is kind of that guideline. Use that as a starting point. Now, that's probably going to be significantly lower than what you're spending right now.

If you need to go up above 12, you certainly can. Just make sure it balances with the rest of your budget. To keep costs down, hey, work on a meal plan.

When you go shopping, stick to the list. We'll be right back. This is Faith and Finance Live.

Great to have you with us today on Faith and Finance Live. I'm Rob Last. We're taking your calls and questions today, 800-525-7000.

Let's head back to the phones to Orlando, Florida. Hi, Deborah. Go right ahead. Yes. Hi.

Really appreciate your program. I'm a disabled senior and I'm downsizing because of my financial situation. Really having some issues with that. I call her my nice niece, but she's not legally my niece and she's not blood, but she's been a friend for a long time and she's got some issues. Right now, I'm trying to sell my house because I don't have any income. I'm downsizing, but she's in a financial crisis of her own and has some big issues. The issue is that I had originally thought that she was going to be executor of my estate because she's even closer than my blood relative, my cousin.

I thought she was here for a month to help me and she's working remotely in my home office right now. I thought I was going to have her co-sign on, be joint owner in some of my accounts. She's got a really bad financial history. She got divorced after 16 years because her husband just was tired of it. She bought a card and that was the last straw for him. Now she's like $60,000 in debt on credit cards. She was 35 and then her new boyfriend co-signed a loan for her because she couldn't get it on her own and then she had zero balance on all the other cards. Now she's loaded them up again. It's just a nightmare. She's three months behind.

I don't know. I need help, but financially I just don't know how to help. When you're picking an executor, this is obviously an important role for somebody to have and it's important that you pick the right person. Now you can go with a family member or friend, but you also could use an attorney or a financial planner or even a corporate trustee. If you are going to use an individual, I think it's important to have somebody first of all, and this might disqualify this individual who's in good financial standing. I mean, they need to have suitable personal finances of their own.

People with creditors and liens against them and no credit history. I mean, they're often not even going to be able to get bonded, which is a form of insurance that many courts may require, which serves the purpose of paying beneficiaries if the executor happens to take off with the estate funds. Not that you're worried about, at least in what I'm hearing, you know, whether or not she's going to handle this appropriately, but at least from an ethical standpoint, but that is an issue that you're going to have to consider. And then beyond that, you want somebody who's a responsible party. You know, this is someone who's going to have to communicate clearly with the beneficiaries, make sure that everything is documented. Details, effective communication, making hard decisions.

You know, those kinds of things all need to be addressed by the executor. And so now you want somebody, you know, at least a little younger. Ideally, location usually doesn't matter, but it's helpful if they're close by. And then obviously somebody who's patient, emotionally grounded, who can kind of work through all these things. So I think you just need to evaluate whether she in fact may not be the right person here. And if not, then the question is, is there another trusted friend or family member that might fit the bill?

And if not, at that point, you could look for an attorney or a corporate trustee that could serve in that role. Yeah. I mean, my nearest relatives are up in Maryland. I mean, they're, you know, so it's like 1100 miles away or something. I have my church family here. I mean, I literally lost my dad and he was, he was like my everything a couple years ago. So I just, you know, I mean, I need also need someone that could be my, you know, my health care surrogate, you know, to handle decisions. So I mean, because I'm all by myself. And so I'm gonna, I'm gonna lean on my, my too close friend from my girlfriend's from Bible study.

Yeah. And I'm gonna talk to them about it because, you know, they'd be probably a better choice locally here for me. And I appreciate your advice.

It really helps. You're welcome. That sounds sounds like a good decision.

I would definitely check out some other options. Thanks for being on the program today. To St.

Cloud, Minnesota. Hi, Sherry, how can I help you? Hi, thank you for taking my call. I have a question on I did a debt consolidation because I have some really bad health issues and my medical bills were out of control. And now they set the debt place settled. I had one that was $12,354.66.

And they, they set up for $6,224.42. Now they're, I'm calling to see if because it's a medical issue, do I have to pay the tax on the difference of the amount of $6,130? Yeah, I would plan on that. You're likely going to get a Form 1099C for each debtor for whom you canceled $600 or more of debt that was owed. So you will be needing to look at that as a form that will be coming your way that you'll need to report on your taxes. And that will all be taxable.

So I would go ahead and count on that. So that doesn't catch you by surprise in terms of what you owe. What I that's, yeah, do you know what the rate of to be taxed for? It'll be added to your taxable income for the year. So whatever your tax rate is, effective tax rate based on the income that you have, it'll just be added in with the rest of your income.

Well thank you very much. That was very helpful because I've already started to put money away for it because I figured it out and I thought it would be, I went online, I looked online and it said it would be about 7%. So I put 10% away. I'm putting 10% to make up with it. Okay, thank you very much.

Yeah, and this may be the year to use a CPA or tax preparer if you have some questions on this, but it will likely be considered a source of income. So I think you planning now will avoid you having some challenges down the road with a bill that you can't pay. And so now's the time to plan for it. Thanks for calling Sherry. We appreciate you being on the program today. Well, we're going to take a quick break folks. And when we come back, more of your questions, Sally and Lake Worth, Sherry and Uniontown, we're headed your way. We have a few lines open at 800-525-7000.

Hey, if you haven't checked out the FaithFi website and the FaithFi app, you can do that when you visit our website at faithfi.com, just click app. We'll be right back with much more just around the corner. Stay with us. Great to have you with us today on Faith and Finance Live. I'm Rob West, your host. All right, let's head right back to the phones. By the way, we've got a couple of lines open, 800-525-7000. Sally's calling from Lake Worth. And Sally, I understand you have a testimony to share, perhaps an update on your story from when you called in previously. Go right ahead.

Thanks, Rob. Yeah, you did invite me to follow up. And so that's what I'm doing. And my youngest daughter, I have quite a few kids delivered her first last year.

And just a bit of advice. Those of you who are thinking of spending seven weeks after their grandchild is born with their out of town offspring. No, why don't you keep the date open and shorten it if it shows that they're going to be fine without you. But I have an incredible angel of a son-in-law and he tolerated his mother-in-law for seven weeks. Anyway, what I did is with this particular offspring, I did set up through my money manager a trust for his college.

And I deposited $10,000 with a certain amount of money taken out every month until I stopped that. And you let us know so wisely that in my will, I will put down for my other children that whatever is left over monetarily of my life is not equal, but fair. And I felt so liberated just repeating that, even putting it down in writing. And it's going to be just good. All of it's good.

I love that you called in with that story, Sally. You know, this comes back to this principle that Ron Bloom, one of my mentors, the author says in Splitting Airs, his book, which is if you love your children equally, you will treat them uniquely. And the idea is that we think there's something, especially as Americans, that we just have to divide everything equally, that we're not being fair if we don't treat everybody exactly the same when it comes to our kids and the things that we give them and so forth.

And in some respects, there's probably some merit to that. And in others, we need to recognize, especially within a financial inheritance, that they're all on different journeys. They're at different places spiritually. They're different places in terms of their financial needs.

They're in different places in a whole variety of areas. And that can result or should result in us evaluating each child to say, what's the best thing and the worst thing that could happen if I leave this amount to this particular child and really pray and think through that. And it may change over time. But that principle that Ron shares, I think, is one that has been so helpful for so many people who have felt that in their hearts and yet just sense that I can't do that. And yet it's liberating, as you said, to know that, no, that's OK. And I need to make decisions based on how the Lord is leading me to leave these assets.

And it may not be exactly the same for each child. And that's OK, because I'm the steward of God's resources. So, Sally, we appreciate you calling back today and sharing that update. Amen. Thank you, Rob. All right. God bless you. What a great testimony to Uniontown, Ohio. Hi, Sherry. Go right ahead. Hi.

Thank you for taking my call. I have a question about my mom. She she has early onset dementia and I have power of attorney for her. She's still in pretty good shape and understands just about everything. She just gets kind of confused. She and my dad were married for 22 years and then they got a divorce and they Social Security has told her that she doesn't qualify for any of his benefits. And I'm not really sure why that would be.

I wondered if you might have some insight into that. And I'm just hesitant to call them because I don't know what I need to give them as far as power of attorney. I don't know how much they're willing to tell me, but everything I've done online researching, I'm seeing it looks like she should qualify for some of those benefits because what she's getting now is very minimal because she stayed at home most of the years.

OK. Yeah, very good. Well, it certainly would be worth looking into because there are some very clear rules around eligibility for spousal benefits. I mean, in general, if you were married, divorced or widowed and your spouse was eligible for benefits, then it's likely you would qualify. You have to have been married for at least one year. And your spouse must also have begun receiving Social Security benefits unless you're widowed. And in the latter case, you may be able to receive still the full amount of your late spouse's benefits as opposed to the spousal benefit, assuming theirs is higher.

And even with an ex-spouse, as long as the, you know, the marriage lasted 10 years and you were divorced from the spouse for at least two consecutive years and are unmarried, you would be able to claim then the spousal benefit. So was there any reason given as to why she doesn't qualify for that? I asked her, but it was quite a long time ago. And I don't think that she even really understood what they were saying. So, like I said, she's got dementia. So I'm just not getting a clear answer from her.

Yes. OK. Well, I would definitely contact Social Security and just let them know what's going on in terms of her mental capacity and and see if you know what it would take for you to be able to talk to them on her behalf. They have a form that you would have to file where you become a representative of that individual.

It's a standard form you can get from their Web site. And that's what's going to be important for you to be able to then engage with them on her behalf. And, you know, you can then set up an appointment with the Social Security to go over the details, because obviously if there's money that should be coming to her, you want to get full access to that.

So I would start going down that road for you to be able to act as her representative before the Social Security office so you can get to the bottom of this. OK. And would that have any impact that my dad has remarried? No, it shouldn't. No, as long as your mom hasn't remarried and they were married for at least 10 years, his remarriage wouldn't have any bearing on whether she'd have access to a spousal benefit. OK. And would that lower his benefit at all?

No, it has no effect on his benefit whatsoever. She's entitled to that spousal benefit completely separate. OK. All right. Thank you. OK. Do I have time to ask one more question or is it the next? Yeah, I've got a few more seconds.

Go ahead. OK, well, she has a car that we are keeping in her name. She's an independent living. She doesn't drive anymore. I'm actually driving her car and she signed it over to me as transfer on death. Technically, the car belongs to her. And I'm not sure if she goes on Medicaid at some point, if they are going to want the car. Oh, I see. So she's not on Medicaid right now. Is that right? No.

OK. Yeah. So there is an asset limit on that. It's two thousand dollars for a single person, typically and three thousand for a couple.

It does vary by state. So you'll need to look into that and see for your state what that is. So I would probably contact an elder care attorney just to get the details on that. And you could get a referral from a certified kingdom adviser in your area. Just go to our Web site, faith by dot com. Find a C.K.

and ask for a referral to an elder care attorney who can help you answer these questions. Thanks for your call, Sherry. We'll be right back. Great to have you with us today on Faith and Finance Live. I'm Rob West, your host.

All right. Before we head back to the phones each Monday, we're joined by Bob Doll, chief investment officer at Crossmark Global Investments, where he shares his market outlook and commentary for the week. And Bob, great to have you with us today, sir. Thank you. Happy Monday.

Happy Monday to you. Well, stocks closed a bit higher, less than a half a percentage point, but we'll take anything in the green. Right. Tell us what you're watching this week. Yeah, that was the last kind of half hour that we went from modest red to modest green. We're watching earnings, Rob.

It's that season. They're going to come fast and furious. And we've got our fingers crossed because the early numbers have been OK.

I had to pick on them. A lot of companies are saying January was pretty good, but March not so much. So that does not portend to slow down.

All right. Well, we'll take it. Bob, obviously, a lot of talk about the debt ceiling today. Speaker McCarthy at the NYSC talking about what might be a battle around negotiations on the debt ceiling. How important is this for the markets and the economy and any ideas on what it's going to look like when we get there?

Clearly, no ideas. It's going to be a series of compromises, as we know. And the fear is that they're just not going to get there on time. Everybody's guessing they will get there, but it could be after the clock strikes midnight, if you will.

And what happens then? Let's hope they come up with something sooner. As you know, Rob, my my concern is not so much Democrats and Republicans kind of come to an agreement, but even within each party, there are many factions on this issue. So it's hard to know how they're going to get to a common answer.

Yeah. But you're you're out today talking about the debt ceiling related to the dollar's role in global trade. How might that be affected? So if, God help us, we would default on our debt. That would not be good news for the dollar and could cause a downgrade that we might not get re-upgraded once they came to an agreement.

Let's hope they come before the clock strikes midnight with an agreement. That's been part of what's weighing on the dollar in recent weeks. All right. Very good. Bob, obviously, geopolitical issues always weighing on the markets. And you had a note about that as well today in your commentary. What do we need to know there?

How many hours do you have, Rob? There are so many issues around the world. I mean, my favorite example is Saudi Arabia, a staunch ally of the United States for years and now is pretty friendly with China.

How did that happen so fast? Things like that. The normal world order is coming apart.

And I guess the good book tells us that's going to happen someday. Yeah, that's exactly right. Well, finally, Bob, on inflation, obviously some, well, better than expected news, I guess, in one sense last week. But how did you evaluate the CPI data?

You know, sort of that way, mix the good news. Inflation came down again, as we all expected. The bad news is, but it's still way too high.

A five handle on inflation is nowhere close to two, which is the Fed's target. And what you and I experienced for a decade prior to the last couple of years. Yeah, no doubt about it. All right, Bob. Well, never a shortage of things to talk about, but we appreciate your insights. As always, have a great week. Catch you next week. All right. That's Bob Doll, chief investment officer at Crossmark Global Investments, where investments and values intersect. If you want to learn more or sign up for his dolls deliberations, his weekly market commentary, it's a free email to you each week.

Do that at Crossmark Global dot com. All right, back to the phones. We go to Bloomfield, Indiana. Hi, Faith. Go right ahead. Yes, sir. I have some coins.

I appreciate your program. Anyway, I have some coins here. I have a nickel. It's a buffalo and an engine on the other side. And I have a silver dollar.

And excuse me, honey, I've had a stroke. I've got a Kendi half dollar. So that's all. I don't click. I don't click coins, but I guess doing away because my husband would get a thing that changed back, you know, and I'd give them to me.

Not just for the bad. I've got I've got seventy dollars, Kennedy and the other ones. That's all I have. OK. And are you looking to sell them, Faith? No, sir.

I just want to get rid of. OK, I don't know, but you work to him. I did talk my son one day on the phone. Wouldn't get into it, but he thought that silver dollar might have a big value in it, but I'm not sure that. Yeah, it's worth looking into just to see if they're worth more than the face value as collectors items. You could sell them through an online auction house or an online auction site like eBay. What I'd probably start with is just a local coin dealer who could evaluate what you have. You know, for instance, an Indian head nickel could be worth three dollars.

I mean, you could do a Google search and just see what you could find. Perhaps your son would be willing to help you do some of the legwork on them. But if you you didn't want to sell them, I kind of like the idea of you starting local, maybe with somebody that's reputable, who could evaluate what you have. And then if you wanted to extend it to a wider sale, if you feel like you're sitting on something of value, that's where the online auction sites can be helpful. If not, you could either just decide, well, I'd rather just hang on to them. They could always be melted down for the the just the cost of the silver.

But you may have something that's worth more value than it's worth checking into. So I do a bit more research, maybe see if your son can help you do some of that legwork as you explore the various options and keep us posted on what you find. Thanks for calling, Faith. We appreciate it. To chat a new guy. Hi, Derek, how can I help you, sir?

Good evening, sir. What are your thoughts on the new Federal Reserve digital currency, specifically how this will impact our national paper currency and individual net worth? Yeah, you know, I'm not a big fan. I mean, the reality is it's a long way off. The central bank doesn't have the authority to do it. It's constitutionally clear. Coinage is a congressional function. But you could see how, you know, this would be very attractive around the world. If there was a digital dollar that could be widely available, if we were efficient and good at it, it would help promote the dollar as the world's de facto reserve currency in an encrypted dollar would be very desirable around the world as well. The downside is it can be done with or without privacy. And I think just given where things are going as of late, that would be my concern in terms of government overreach into the lives of Americans with more visibility around literally every transaction.

And that's why this is going to be hotly debated and very difficult to get through, because with divided government, you're going to have to have both houses and the president aligned primarily due to those privacy concerns. I mean, think of this like a cryptocurrency that the central bank can track. And if it was well designed, it would make transactions quick and easy. It would be legal tender as a dollar. Businesses would have to accept these and it would be stable relative to dollars as opposed to the volatility of, you know, other cryptos like Bitcoin. But I think given the lack of privacy it likely would have, I think that's where a lot of folks are going to take issue with it.

I certainly do for that reason. The good news is it's a long way off and it's going to be hotly debated. I mean, the U.S. is still in the early stages of this as a result of the report that came out at the request of President Biden, an interagency report. Congress is going to have to get involved. I mean, China just recently started their major beta and now it's still in the pilot phase, but they've been working on it since 2016. And so, you know, we're still we've got a ways to go before we would have anything with a digital dollar or central bank digital currency that was kind of out there in the United States. So I think this is still a ways off. It's something we need to pay close attention to.

And I think it's again why we need to have people that understand the free markets, God's designed for economies and the role of government in our lives in office, making decisions and debating these issues, because this is going to be a really important one in the future. Does that make sense? OK. Yes. Do you realize, though, that they are advertising it on their website as being deployed in phases beginning in July? No, there's there's nothing that I'm aware of that actually has this. We will certainly have our team look into that, but there's nothing that I'm aware of that actually has the digital dollar coming that quickly. But we'll certainly take a look at it. It's a it's an interesting thought, Derek.

But I think we're still a long way off before we have a legitimate central bank digital currency. Certainly nothing on the horizon right now that I'm aware of. We appreciate you calling today, sir. God bless you. Quickly to Indianapolis. Just a few seconds left.

John, how can I help? Yes. Rob, love your program. Now, this is a question about the timing of transferring of property ownership to a daughter and her husband. We inherited 30 years ago. We're now in our 70s.

And for two reasons. We're one, the caretaking that that's going to continue going forward. But the other reason that even though we're aware of the benefit of waiting until we leave the inheritance when we die, they're about to dramatically increase, improve the property, investing a significant amount of money in building another building for for kids. So the question is, in advance of they're putting that investment in, in addition to the fact that it'll be our liability while the building is going on, certainly, but would it advantage them to have the property in their name now so that as he's pouring, you know, a couple hundred thousand dollars into 100,000, whatever it is, the benefits of transferring it? Well, I could see where if they're going to actually be the ones making improvements, and they're going to be borrowing money against it and so forth, having it as their asset would make some sense. The nice thing because you all inherited this fairly recently, you've already stepped up the basis.

So it could be that, you know, you really won't have much downside to going in transferring it now I would make an appointment with an estate attorney just to talk through this job. We appreciate your calling. I'm sorry, I'm out of time.

Faith in Finance Live is a partnership between Moody Radio and Faith Buy. I want to say thanks to my team today and thank you as well. We'll see you next time. God bless you. Bye bye.