“Bible Verses” that Aren’t Actually in the Bible

When you want pithy quotes, check out social media. When you want words of truth, look to the Bible, but be careful not to get those two mixed up. I am Rob West. Some familiar sayings may sound like Bible verses, but they're really not.

Today we'll find out why so many old saws really don't cut wood. Then we'll take your calls at 800-525-7000. That's 800-525-7000. This is Faith and Finance Live, biblical wisdom for your financial journey. Of all the Bible verses that aren't actually in the Bible, here's the most familiar one. God won't give you more than you can handle.

Now, this sounds great, especially if you're struggling with financial hardship. Unfortunately, it's not true. The fact is, life is always more than we can handle without God. After all, we need His help just to take our next breath. The idea that God won't give you more than you can handle is a misreading of 1 Corinthians 10, 13, which actually says, God is faithful, and He will not let you be tempted beyond your ability. But with the temptation, He will also provide the way of escape that you may be able to endure it. The good news is God's faithfulness, providing a way so we can endure temptation, not necessarily avoid it. Okay, here's another popular quote.

Maybe you heard your grandma say this when you refused to do your chores. God helps those who help themselves. Again, it might seem like something from the Bible, but it's not. In fact, it's the opposite of what God's Word says, which is that our help comes from one place. Psalm 121, 2 tells us, My help comes from the Lord, the Maker of heaven and earth. It's not God plus me getting the job done. God's help is never contingent on what you or I do. In fact, there's nothing we can do even to earn God's help. But again, the good news from the Bible is that God shows His love for us in that while we were still sinners, Christ died for us.

God's help is always available, not because we do our chores, but because He loves us in spite of our brokenness. Well, we're just getting warmed up here with biblical-sounding sayings that aren't actually in the Bible. Have you ever had a disappointment and someone told you, if God closes a door, He'll open a window?

Besides letting the bugs in one way or another, what is that really saying? That God always resolves your problems immediately? In fact, that's not always the case, is it? Sometimes God closes a door and we have to wait, with the doors and the windows firmly shut. The Bible does promise that God will keep us headed in the right direction when we're following Him with all our heart. Psalm 32, 8 says, I will instruct you and teach you in the way you should go.

I will counsel you and watch over you. But the way you should go doesn't necessarily mean God will make an escape hatch when you don't seem to be making progress. You'll find that God often does some of His best work as you wait, teaching you to trust Him even more.

Psalm 37, 7 says, Be still before the Lord and wait patiently for Him. Do not fret when men succeed in their ways, when they carry out their wicked schemes. Our next quote is, To thine own self be true. That might sound like scripture, but it's really from Shakespeare's play Hamlet.

As a piece of advice, it's completely unbiblical. To thine own self be true suggests that all you need for success is to follow your own instincts and desires. Unfortunately, it's our own instincts and desires that cause us to sin. Self-reliance is no substitute for reliance on Jesus.

He is the source of truth and the only one we can really rely on. That brings me to the next common saying, another piece of unbiblical advice, follow your heart. First of all, here's what Jeremiah 17, 9 has to say about our hearts. The heart is deceitful above all things and desperately sick.

Who can understand it? In light of that truth, following your heart seems like a really bad idea. Bible study tools dot com puts it this way. God gives us passions and desires and uses our lives to prepare us for His purposes. Just as He prepared David during his time as shepherd, soldier, and court musician. But that only works if we completely surrender our lives to His leading. The next nod in the Bible quote is if God brings you to it, He'll lead you through it. What's true about this is that God never abandons us. Jesus said, and surely I am with you always to the very end of the age. That's Matthew 28, 20. But does that mean God will always pull us out of difficult situations?

Not necessarily. He certainly can rescue us from pain, but sometimes He doesn't. Sometimes He uses trouble to help us rely on Him more and ourselves less.

The bottom line, if you're a follower of Jesus, you can always trust His provision and rest in His peace, even in the midst of hard circumstances. Your calls are next. I'm Rob West and we'll be right back. It's great to have you with us today on Faith and Finance Live.

I'm Rob West. It's time for your calls and questions today. This is the portion of the broadcast that we dedicate to you. So you can call with the things that you're wrestling with in your financial life as you try to be a wise and faithful steward of God's money. That's my desire. I know it is for you as well.

And we want to help you do that, give you practical ideas that really come from the principles that we find in Scripture and help you apply those today. The number to call is 800-525-7000. We've got some lines open today. We'd love to hear from you again.

800-525-7000. Let's begin today in Indiana. William, you'll be our first caller. Go right ahead. Yes, thank you, Rob, for taking my call.

I appreciate your ministry. My question is, I've been retired for a couple years, have no debt, and I've got about only 20 percent of my retirement money in a Roth between my wife and I. My accountant mentioned that I should try to maybe transfer some of that out of a regular 401k and pay the taxes and convert it into a Roth. And I didn't know if I should. I've done some of that, but whether I should continue or just leave it as is.

Yeah. Well, I'm always hesitant to disagree with your CPA because I am not a CPA. And so from a tax standpoint, you know, I would value his counsel there. But let's talk about what's going on in your financial life specifically. So give me a breakdown. How much you have roughly in Roth accounts right now and then how much you have in traditional?

About 300,000 in a Roth and the rest is in regular retirement 401ks. Okay. And what would that total about? I'm sorry, 1.5 roughly.

Okay. So 1.5 in traditional accounts, be it IRAs or 401ks all together, and then about 300,000 in the Roth. And he's saying you ought to move more of it over to the Roth. And has he given you kind of a schedule of how much in total he'd like you to convert and then over how many years? Well, he didn't actually say that, but I moved some because I think I've moved 100,000. So because a couple years ago, I only had 200 in it. So he was thinking of, well, the taxes now or whatever would be and you don't know what the tax is going to be later. It might be higher, you know, so that was his reasoning. But I'm taking money out of the retirement to pay the tax.

Okay, yeah. So when you incur that tax bill on the conversion, you're taking extra so that you can satisfy that and you don't impact your current cash flow. Well, I like you having both. I would love it if you had more in the Roth. The question is whether it makes sense to go ahead and pay that tax. Now, I would agree the likelihood of taxes, tax rates being higher in the future than they are today is high. We certainly know that in 2025, the Tax Cuts and Jobs Act from President Trump expires.

And unless that's renewed or something replaces it, tax rates are going up. Now, are you currently fully retired or are you still working? Yes, my wife's working just a little bit, not much. Okay.

And everything's covered. We're not really pulling money out of retirement yet. Yeah, yeah.

Yeah, that makes a lot of sense. So, you know, you're not in a working, you're not working like you were previously. So obviously your income is down and therefore you're in a fairly low tax bracket, which I suspect you would stay in. But again, if marginal rates increase as the Tax Cuts and Jobs Act expires, perhaps you could save some money now.

Yeah, I would certainly be amenable to that. I think, you know, the benefits to the Roth are you'd go ahead and lock in the taxes based on what's known today. And we're probably not going to see taxes much lower, the likelihood as they go up. Secondly, you wouldn't have to think about the required minimum for the portion that's in the Roth. You could let that just continue to grow and then pass it on or give it away at your death. Whereas with the traditional IRA, you would have to start taking it out at some point, either 73 or 75 down the road.

So I like that. I think I would just work with him on the right schedule for how you'd want to do that because you wouldn't want to, you know, take out too much where you're pushing a good portion of this up into a higher bracket based on the current tax rates. And so you'd want to do that slowly so as not to incur more taxes because the whole idea behind this is to save on taxes. The only other thing I would throw out is one of the benefits of the traditional IRA, which we could roll the 401k over to, is the qualified charitable distribution. So any giving that you all are doing now or in the future that you were planning on doing out of current cash flow or out of taxable savings, you could replace that with giving coming right out of the traditional IRA and, you know, that would not be added then to your adjusted gross income. So that's a way to get it out of the IRA or what is today the traditional 401k and not have to pay tax on it. And it doesn't necessarily mean you have to increase your giving. You could just use it to replace giving you were already doing.

And it satisfies the RMD. You of course don't have that with the Roth because that's all after-tax money, but that is one benefit to the traditional IRA that you don't have with the Roth. So I would say I like the idea of you having both buckets and that way, regardless of what happens with taxes in the future, you can determine which bucket to pull from.

And I would just work with your CPA on the target for the total amount you want to convert in your lifetime and then the schedule of how quickly you do it as to not push it up into the next tax bracket. Does that all make sense? Yes, that does. Yeah, I didn't know about the traditional IRA. You could kind of give off that.

Yeah, yeah. It's called a qualified charitable distribution. You can give up to $100,000.

You can start doing that at age 70 and a half. And then whenever you start having required minimums, any giving you do as a qualified charitable distribution not only comes out without it being added to your taxable income for the year, it also satisfies your RMD for the year. So it's a really powerful giving tool that you can use to get money out of there.

And again, if you're using it to replace money you would have otherwise given just out of savings, then you're given the same amount you would have given, but you're not adding any taxable income, which is a nice benefit. Okay, well thank you very much for your information. Appreciate it.

Absolutely. God bless you, my friend. Thanks for calling today.

Let's see quickly to Aurora, Illinois. Hi, Jeremy. Go ahead. How are you? Doing great. Good.

A question. I'm looking to set up a Roth. I have about $400 to $500 a month that I can put to it. I have no other form of retirement.

My work does not offer too much and then they don't offer any matching. Yeah, I like the Roth. It's a great starting point and hopefully they'll add something down the road or you could look at another option. But given that you have $400 to $500 a month, this is perfect because you can put in $6,500 a year into the Roth. In terms of where I'd open that, I'd open that at either Fidelity or Schwab, one of the discount brokerages. I'd put it either into an index fund where you're just capturing the broad moves of the market or several of them. You could use a robo advisor if you want that would essentially automate this very low cost and it would build based on the questions that you answer, just a broad diversified exchange traded fund portfolio of indexes. So you'd capture a small portion of the bond market and a bigger portion of the stock market and it would be diversified among small and large cap, international and domestic. I'd probably look at the Schwab intelligent portfolios. If you wanted to take a more active approach, our friends at soundmindinvesting.org could help with some mutual fund suggestions or at faithbuy.com you could find some faith-based investing mutual fund options. But bottom line is I think that's a great plan, Jeremy.

I'd open that Roth IRA up immediately and start systematically making those contributions. God bless you, my friend. We'll be right back. It's great to have you with us today on Faith and Finance Live.

I'm Rob West. We're taking your calls and questions today. We'd love to hear from you. The number to call 800-525-7000. I've got several lines open. 800-525-7000. You can call right now.

Let's head to a beautiful West Palm Beach. Hi, Karen. You go right ahead. Yes. Hi, how are you?

I'm doing very well. Thank you for taking my call. Yes, ma'am.

Yes. So I have two card loans. One is my own loan that I took back in 2020 and the other one is another loan, not a car loan, but an older car. And I co-signed for my son and that was back in October.

So I have two questions. So the first one is, could I have my son take over the second car loan just under his name? And if so, how do I go about doing that? Yeah, you're not going to release him from that car note or release you just because they don't have to. So what would have to happen is he would have to qualify to refinance it on his own. Now, I suspect the reason you co-signed is he either didn't qualify on his own or if he did, the rate was much higher than it was with you being added to it. But the lender now has recourse to both you and your son in the event that the note is not paid and there's no incentive for them to let you out of that responsibility that you signed for. So what would have to happen is he would have to try to refinance this car note with another lender or the existing lender, but with a new note without you, meaning it's going to rely on his income, his credit score, that type of thing. And if he can do that, then that would be the way to get you out of it. But the lender is not just going to release you because that's not to their benefit. Yeah.

So I guess we have to ask the lender, you know, right? He was his first car. He's just turned 20 right now. And at the time he was just working part time. He got a great credit score. He has been, you know, and I'm thinking that he may qualify for that. Yeah.

And he may. What is the car worth? Do you know? Yes, it's under $7,000. You believe you could sell it today for $7,000?

No, I'm thinking that that's no way he loves that card. That's what he's worth right now. That's the balance on the car.

Okay, so that's the balance on the car note. Do you have any idea what it's worth if you were to try to sell it? I understand he does. He wants to keep it.

But what is the value of it? Oh, I don't know. Okay, well, that would be really important because the factors here are, yes, his credit score is important. I understand he was just getting started. And now he's got some documented income. And, you know, he's been working for a while now.

That's good. But the other big factor is just what is the value of the car versus the loan value. So if the car is worth $12,000 today, and he's got a $7,000 loan on it, that's great. If it's worth $5,000 and he owes $7,000, that's going to be difficult to refinance because it's upside down. So that's going to be another key factor here is just what is this car worth versus what's owed on it. But assuming it's worth more than he owes, and he now has a good credit score, and he's got a good income, and he doesn't have too much other debt, so his debt to equity ratios and debt to income ratios are good, then there's no reason he shouldn't be able to qualify on his own. What he would need to do is go online to LendingTree or any one of those websites that could find who has the best rates right now for refinancing used cars.

And he would apply to refinance it, and then he could potentially qualify under his name. Now, the only other consideration is the interest rate. Do you know what the current interest rate is? Yes. So for the second loan, since I co-signed, they hit us up with 10% interest rate on that second car. The one that you co-signed for? Yes, yes.

Okay. Yeah, so that's really high. So, you know, he should hopefully be able to get that down again, assuming he has got a good credit score, he's got good documented income, not too much other debt, and he's not upside down, you know, he should be able to get a refinance rate. If you have excellent credit, you can find him in the fives right now, but certainly less than 10. So I would say that's the next place for him to go, is to do some research, you know, whether that's at LendingTree or RateGenius or Bankrate. He can find the companies that are offering the most competitive rates and terms right now for refinancing used cars, and then try to qualify on his own, and that would be how he could get you out of it. Okay.

And then the second question, thank you for that. My first car loan, it's not my first car loan, but my original car loan back in 2020, I am at 3% interest rate on that one, but I want to see, I have had it for at least three years, but I want to see if I can refinance. Why?

What are you looking to accomplish? To lower down, to lower the monthly car payments. Yeah, if you're at 3%, you're going to go up, not down. Those car payments are going to get more expensive. You've got a great loan there, and there really is no way to lower that unless you're going to extend it out into a longer term. But even by extending it, so let's say you had a five-year note, a 60-month loan, and you're down to only three years left, and you did a new five, the challenge is, although that would typically bring that car payment down by extending the term, your rate is probably going to go up a couple of points at least from three to five percent, so you're probably going to lose all of your savings.

So I would just stick with that loan, try to pay it off as quick as you can, and do that by going back to your budget, your spending plan, and looking to eliminate any expenses that you can, so you can apply more to principal reduction. Thanks for your call today. We appreciate it. May the Lord bless you. Let's go to Rome, Georgia. Hi, Greg. Go ahead. Hi, Rob.

Thanks for taking my call. This is an estate planning question. My wife and I are looking to redo our will. We have four children, and between 401Ks and pensions and home assets, we have just under a million dollars in there, but we have, of the four children, we have one that we don't want to just give a lump sum to because she doesn't have experience with managing money and we're afraid that she would just lose it all.

What would be your recommendation? Yeah, that's a great question. Let's do this. I've got to take a quick break, Greg, but when we come back, I'd love to tackle that.

A few lines open. We'll be right back. Faith and Finance Live.

Stay with us. It's great to have you with us today on Faith and Finance Live. I'm Rob West. We've got some lines open today taking your calls and questions. 800-525-7000. Again, that's 800-525-7000.

Just before the break, we were talking to Greg in Rome, Georgia. He and his wife have a little under a million dollars. They're wanting to do some estate planning and plan to divide those assets among their four kids. One in particular, perhaps the youngest or just one of the children, they don't believe at least today is either financially mature or perhaps spiritually mature enough or both to handle a lump sum payout and just wondering how to approach that.

Well, a couple of thoughts here, Greg. Number one is Ron Blue literally wrote the book on this topic and I'm going to send it to you as my gift to you so when we're done here stay on the line. It's called Splitting Heirs and it's not about the how of estate planning with all the tools and strategies.

It's really on the why. How you go about making the decision on what to leave to your heirs, what to leave to ministry or your church or charity and then how to go about that and really can have some thought-provoking questions including what's the worst thing that could happen because we have to recognize that dropping a large sum of money in a child's lap could lead them to reinforce poor lifestyle decisions, could lead them away from the Lord. Ron talks about a son-in-law whose dad had really just instilled in him the importance of being able to provide for his family and he didn't want to take away his ability to provide for the family by just dropping a large lump sum in their lap and so they gave careful consideration to that. At one point they had a daughter who was divorced and a single mom and she had a lot more financial need than another child who was an attorney and had a really healthy income and was building his net worth quickly and the principle that he talks about in the book or one of them, there's many of them is if you love your children equally you will treat them uniquely and it's the idea that we don't have to treat our kids necessarily the same. Now you and your wife may conclude that you want to treat them the same and divide it equally but how you go about doing that is really a part of the estate planning process. In terms of the tools and strategies this is where a living trust can be helpful and you'd want to talk about this with an estate planning attorney but essentially it's where rather than through a will just them inheriting a lump sum equally divided from the estate at your death there would be a trustee that's then named in the trust documents that for the portion that's going to that child who's a little younger maybe a little less financially mature it would be spelled out how the money is distributed over time. Maybe it happens at them reaching certain ages so a certain portion at 25, a certain portion at 30 and 35. It could be that rather than it being paid out as a lump sum it's paid out monthly so it doesn't thwart their ability to get a job and work or their need to but it still provides helpful assistance to them. So all of these things can be done through a living trust but it requires a lot of prayer and thinking ahead of time as you're making those decisions.

Give me your thoughts on all that though. Well I think the living trust really sounds good because we definitely want to do it one thing differently from for this one and a living trust sounds like probably the right thing to do because I don't expect that person to come to a place of maturity just based upon the projection right now. Yeah yeah well and certainly the great thing is that these things do change over time so Lord willing five years from now the Lord's tarried. He's not done with you and your wife yet it hasn't called you home and that's changed and you could go in and update the trust.

So these aren't one-time decisions and we're not talking about an irrevocable trust we're talking about a revocable trust which just simply means you can revoke it or change it at any time and as situation and circumstances change including you know the trajectory that this child is on those things could be changed as well. So I think your next step in addition to you and your wife reading through this book that I'm going to send you is to schedule a meeting with a godly estate planning attorney if you don't have one you could contact a certified kingdom advisor in your area and ask for a referral they would all have one or more that they work with and to find a CKA there in Rome you can head to our website faithfi.com faithfi.com and just click find a CKA. Does that sound good? That sounds wonderful thank you. All right you stay on the line Greg we're going to get your information and then we're going to send you a copy of Splitting Airs thanks for your call today. To Cedar Falls Iowa Martha you're next on the program go ahead.

Good afternoon thanks much I really appreciate your program. I am 73 years old I live alone I live on social security only I don't have any outstanding debt. I have a two-year-old car Subaru cross check that I bought in August of 2021 so it is a 2021. I have about 26,000 miles on it and I have a balance on it of $17,291. I'm wondering at what point I'm wondering whether I should consider selling it and buying another one or if I should just keep it until the end. I don't know why I asked that question necessarily I don't need all the bells and whistles that are on a 21 cross check but it's a good vehicle I just don't know if I should keep it. Yeah you know unless there was something specific you were trying to accomplish such as you had a really high interest rate you were trying to get it down you wanted to go with a different type of car you know the cheapest car you are ever going to own is the one typically you own right now. Just because there's costs related to buying and selling typically you'd want to buy a newer used car well the problem there is you know you know how this car has been maintained because it's been yours you really don't know how another car that you would purchase has been maintained and that may lead to more maintenance. So if this is a good quality car you've maintained it well you have you know a good interest rate on it and if you don't you could refinance it and you know then I think you just continuing to drive this car with a goal of paying it off and just continue driving it I mean these days 26,000 is really low mileage I mean this car this Kia should easily run you 200,000 plus miles if it's maintained well so I don't really see Martha any reason for you to sell at this point and unless there was some specific thing you were trying to accomplish.

Well really and the interest is low it's a 0.90 yeah and so no I just didn't know if I should make that change so I just wanted some advice I don't have that. I think you're in a great spot here I mean Howard Dayton my good friend and mentor the former host of this program says he always buys cars and drives them till the wheels fall off that's where you get the most bang for your buck if you will you know so I think the you know the only issue here is just whether you have any issues with it in terms of maintenance you know you could look up I think you said it was a Subaru and they have been known to have transmission problems but you know the bottom line is if you're maintaining it well and you've got a really low interest rate and the unknowns of buying a newer used car I just don't think you're gonna get enough benefit for that so I would say let's just continue to drive this car maintain it well and and hopefully it'll carry you for a long long time but I appreciate you checking with us and thanks for being on the program today may the Lord bless you Martha. Well folks we're gonna take a quick break and then come back with our final segment today I've got a few lines open we'll get to as many calls as we can just around the corner 800-525-7000 I'm Rob West and this is Faith and Finance Live.

Stick around. I'm grateful to have you with us today on Faith and Finance Live I'm Rob West you're taking your calls and questions today. Hey the Federal Reserve is widely expected to deliver another interest rate hike on Wednesday resuming its campaign to increase the cost of borrowing and really thwart the inflation that we've been experiencing for about a year now a little bit more maybe analysts project another quarter percent hike which would set the Fed funds rate between five and a quarter and five and a half we'll continue to watch that they are seeking to bring inflation down by slowing our economy it seems to be working in part the question is whether it's going to come down to their target of two percent without us slipping into a recession that of course remains to be seen at the end of the day though it is making the cost of funds borrowing more expensive which means it's a good time to dump debt which the Bible certainly encourages borrowing is not a sin but there are some clear warnings in scripture around it so this is a good time to rid ourselves of consumer debt but we'll certainly give you an update tomorrow as we find out what action the Fed is taking all right back to the phones to Akron Ohio Tom thanks for your patience sir understand you have a testimony go right ahead yes sir first may God continue to bless your ministry as you reach out to to the multitudes I have a situation my son's about 40 years old right now he's serving God going to become a foster parent he's given his life as a young child to God I had a opportunity when he was about four years old to teach him the principle of tithing and so I took ten little squares of paper I laid them there on the floor and he got down beside me and I said Anthony said I want you to look at something God's given you ten squares I said you know what he asked from you and he looks at me says what what's he want dad I said he wants one little square would you be willing to give that to God and he said oh I'd like to give it to God and he reached over and he pushed it over separate from the others there was nine and one he said dad can I give him another one I said you can I said that would be called an offering he said whoa I like to give him two I said Anthony you could give him two and that's a good offering he said dad can I just give them all to God oh and I said Anthony that is what he's wanting from us this young man this young man had an opportunity he took a hundred dollar coin he put it out there on the marketplace he felt compelled to give it to a missionary friend of his up in Alaska he met the gentleman he told him he says this coin's for a hundred dollars he said I'm going to give it to my friend who's a missionary in Alaska the man looked at him he says I'm not only going to buy that coin for a hundred dollars he said I'm going to buy that coin for two hundred dollars he said here's an extra hundred from me but that's what God does and that's what your ministry is all about I know that oh that's great well thank you for sharing that story Tom that's powerful yeah it really is hey I've got a real quick question on whole life and and it doesn't matter what I do with it I've got a twenty thousand dollar whole life policy I paid about two hundred and something 225 I think a year I got it way back in the day I'm thinking about cashing that thing in and just going ahead and putting it towards putting it in a CD if I get five percent and I do that I'm thinking several thousand dollars on down the road I'm gonna have what it's worth anyhow right now it's worth about 12 so any thoughts on that yeah Tom are you still working yeah I'm going to retire next February okay so if something were to happen to you if the Lord calls you home is there anybody depending upon your income at this point absolutely not my wife and I God has blessed us and we're we're set yeah that's great so yeah you don't need this policy and I think you could do better elsewhere especially with you owning it so long there shouldn't be any kind of surrender charges or penalties so I think taking this money shoring up your emergency fund whether in a high-yield savings or putting it in a CD and as you said at five and a half makes a lot of sense to me I don't think there's any need for you to have a life insurance policy at this point I totally agree thank you so much for your time and God bless all right Tom God bless you my friend thanks for your kind remarks about the program to Indianapolis hey Lee go right ahead yeah Rob I just had some questions I've got a property I'm putting up to rent as being a landlord people been mentioned that maybe it's best to put it in the LLC but I really don't know much about them I didn't know if you had any insight yeah I'd be delighted to it's a business structure that combines the limited liability benefits of a corporation and the tax features of a partnership and they are very effective for a situation like you're describing with a an investment or a rental property for instance one of the main benefits that folks will use them for is limited liability so if you have more than one property you'd create an LLC for each one if you have just one you'd create a single LLC but this would be such that if a lawsuit was brought against the LLC only those assets of the LLC would be at stake and you would be able to protect that now there is a way that you know that's not foolproof or guaranteed in certain circumstances a plaintiff could what's called Pierce the corporate veil and hold a member which is you know what you would be to that structure the LLC holds you liable personally for debts and obligations of the LLC but in most cases it does provide that liability protection so it limits the protection just to the assets of the LLC it's also a pass-through taxation entity so unlike a C Corp it's not going to be subject to double taxation and then there's a few other benefits as well with regard to a multi-member LLC where you have different you know let's say you own this property with other people each member could report a specific portion of the LLC's business income on or losses on their personal tax returns and then there's more flexibility than you would have with a corporation and a partnership there are some costs to setting it up so you'd have to you know get with an attorney to create it and you'd have to go to your state's Secretary of State website to find out what fees are associated with forming it and then there's other ongoing and annual fees as well but I would concur with the advice you've been getting that for somebody in your situation it can make a lot of sense most notably from a tax standpoint and a liability standpoint. Okay, I'm glad you mentioned the attorney someone said you possibly go online and find it then do it where people have done it their self or go through an attorney who would be able to kind of cross the T's and dot the I's make sure everything is legal since I've never done getting into anything like this so attorney sounds reasonable and it appears today would be able to lead me through even not only their price points for doing it but maybe other costs. That's exactly right they'd be able to give you the full rundown and I would agree with you absolutely you can do it online you can find templates for a will and creating an LLC and a lot of things you can DIY it I just think with something like this I like your thought about dotting the I's and crossing the T's having somebody that can ask you a series of questions and just set this up exactly the way you need to so I think the benefit of an attorney here makes a lot of sense. Lee, all the best to you my friend thanks for being on the program today we're going to stay in Indianapolis and talk to Nancy.

Hi there go right ahead. Hi Rob my husband and I have an annuity it's about 14 years old and I was wondering if a certified Kingdom advisor would be able to review that and tell us if there's a better product out there or if our fees are too high and explain it to us a little bit more clearly. Yeah I think that's a great idea Nancy you know these annuities are complex there are a lot of it's a lot of fine print they're not all created equal good news is you've been in it a while so all the surrender charges and penalties are probably gone. Now what you may find is this is the very best solution for you in terms of what you and your husband are trying to accomplish in this season of life but if there are other options where rolling it out of that annuity into another investment account that could be managed in such a way to minimize risk but get you a little better rate of return or something else may be an option and yeah absolutely a certified Kingdom advisor could review this policy and the annuity and then give you a counsel and there's some wonderful CKs there in Indianapolis all would be available for search on our website at faithfi.com.

Wonderful thank you so much. All right Nancy we're going to finish in Miami today Cindy you'll be in our final caller go right ahead. Hi good afternoon thanks for taking my call. My question is I'm a young young person in my early 40s and I've been listening to everybody and I realize how financially illiterate I am I've been a stay-at-home mom for the past 12 years so I'm just getting back into the market and also just recently divorced so I'm wondering how do I guess build financial security for the long run given that I haven't worked. I've relied on my husband because again I was a stay-at-home mom with a disabled child and now that we're no longer together and I'm taking care of my baby and getting back into work it's like oh wow how how do I do this. I completely understand Cindy and I want to be a help to you I can understand this might be overwhelming and you're trying to do now everything on your own and save appropriately and care for your child and you're doing this without the working knowledge of how all of these financial matters work. So I want to do two things I want to send you a book that I think will be an encouragement to you it's a book called Wise Women Managing Money and I think it will give you some of the just understanding that perhaps you've been missing to give you a little more confidence in taking a biblical approach to financial decision-making so stay on the line we'll get your information and I'll get that out to you. I'd also like to connect you with one of our certified Christian financial counselors here at FaithFi we'll cover the cost for it won't cost you anything but this will be somebody who could come alongside you help you get all of your assets and liabilities in one place and at least on paper so you know what you have and help you look at your spending plan and just give you some a fresh perspective on some things you might be missing to help you get everything in order and when we get your information we'll get both of those out to you you'll hear from one of our CERT CFCs and you'll get that book in the mail. Listen God bless you thanks for calling today stay on the line we'll get that right out to you. Faith and Finance Live is a partnership between Moody Radio and FaithFi I want to say thank you to Gabby T, Amy, Dan, and Robert couldn't do it without them have a great rest of your day and come back and join us tomorrow we'll see you then bye-bye.