Money Planning for 2024

This is Andy Thomas from the Masculine Journey Podcast, where we discover what it means to be a wholehearted man. Your chosen Truth Network Podcast is starting in just seconds.

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Speak your mind. And now, here's today's Truth Talk live host. This Truth Talk live show is powered by the Truth Network, and our vision for this live show is it to be a true call-in show where you, the listeners, get to share the truth, especially your testimonies, your stories, your prayer requests, plus your views as we talked about on current events and pop culture. And that number to call in, and we would love to hear you from me because we know you're going to make this show, is 866-348-788-4866. 866-344-TRUTH. And any caller from all the different things we're going to talk about today, if you have a view, you have a story, especially a testimony, we would love to hear it. We are going to send you out a prize from the Truth Prize Vault.

We have actually literally thousands of books that we will pick from and send to you everybody that calls today, as this is our first ever live of this particular hour of Truth Talk live. 866-348-7884. A little later in the show, so when I'm hosting, like today, you can call in with your dad jokes, you know? That's the dad joke you always wanted to tell, Robbie. Well, here's your dad.

866-348-7884. And at the bottom of the hour, we can call in with your quotes on today's topic, because we've got quotables. That's coming up at the bottom of the hour. So today's Truth Talk live, actually we are talking about what are your plans? What are your money plans? For 2024, a resolution even. Like, you know, what, as you're thinking about 2024, what does that mean as far as your money is concerned?

And we would love to hear your ideas. Specifically, what is a tithe? What does that mean to you personally? Is that a percentage? Is that 10%? Is it on the net or is it on the gross?

Well, we would love to hear what your thoughts are on that. Again, the number to call in and we are going to give you a book. From the Price Vault, 866-348-7884, 86634 Truth. And here to help us with money planning for 2024, my very own co-host for Finishing Well.

Saturdays, every Saturday at 8 o'clock is my good friend, Hans Shiles, Certified Financial Planner and Fiduciary. So welcome, Hans. Yeah, welcome. Thank you. I just welcomed a new grandson into the world on Christmas Day.

Oh, wow. How about a Christmas birthday, right? Oh, man, I remember there's a movie. I'm trying to think, it might be called The Christmas Stranger. But anyway, it featured this girl and this person that played Jesus but nobody knew he was Jesus. Well, the girl's birthday was on Christmas. And she's talking to the Jesus character who everybody, you can kind of tell he's Jesus by his haircut, et cetera. And she says, you probably don't want us to understand where everybody is celebrating somebody else's birthday on your birthday.

Jesus is looking at her and goes, yeah, I totally get that. And I understand. So, you know, and especially since we're just coming off of Christmas, you know, what a good time to talk about our financial plans, specifically, you know, tithing and what we're going to do our with our money for God right in 2024. Well, it is and you know, I get the questions a lot about, you know, taxation and whether you can write off a donation. And, you know, tax and write off is not the motivation here for tithing. Okay, it's an it's an after effect. And it gives you the opportunity to give more.

It's an effective ways to reduce your taxes and mix that with your giving. But I just want everybody to understand that's not the motivation here. Right. And if you've got a question for Hans, any kind of question for Hans, any kind of comment, anything you want to talk about, a prayer request, you know, that's what we're here for. This is a live show driven by you, the truth listeners. And so we need your calls. We really do.

866-348-7884-86634 truth. And so, you know, I really think the word tithe is an amazing word. Yes, as in Leviticus 27 32. You know, God kind of gives us this explanation. It says concerning the tithe of the herd of the flock, whatever passes under the rod, the 10th one shall be holy to the Lord, which what he's telling you there is that when you give money to God, essentially, it's holy.

Right. And so you got this money in your pocket, and right now it's just ordinary old money. But at the point in time you give it to God, Hans, it changes what it is, and it becomes sort of a, I like the way that the Jewish people teach about this, it's sort of a way that you connect with God through your money. In other words, now that you're doing this in obedience to what he wants you to do with your money, you now have turned your money into something a lot more special than it was.

Well, yeah, you have. And, you know, Jesus said in Matthew 6 19-21, he just mentioned that don't lay up treasures on earth, lay them up in heaven. And it really just shows what you're accomplishing, what you're doing for the whole kingdom by doing the tithe. Right. And so, you know, what is your thought about the tithe? Is it the net?

Is it the gross? More importantly, what I want to hear is your story of when, you know, maybe you tithed or maybe you gave something to God you didn't expect to, and all of a sudden, man, a blessing poured out like it's unbelievable. So, Hans, you have a story along those lines. But, you know, the whole idea there is we're not doing this so that we can get a blessing, but we're doing this because we have the opportunity to do it.

And God loves a cheerful giver. But even you coming on the Truth Network, right, Hans, ended up being one of those blessings of tithe, right? Well, I was on a secular station and I was using my book as a source of shows and paying them more money than I had at the time to just go through seven radio shows and just kind of see how it goes.

And it wasn't going very well, actually. And then I all of a sudden got a call the second week. This is the Truth Network. Welcome back to Truth Talk Live. Today we are actually live for the first time on Truth Talk Live in this four o'clock hour. So exciting to have you with us here today. I'm Robbie Dilmore, your host, and I've got my good friend Hans Schile, a certified financial planner, with me as well. But most importantly, we have you, our listeners, which are calling in today at 866-348-7884, 86634 Truth with your story.

But we've got Jane is in North Carolina. And Jane, you're on Truth Talk Live. Good evening. Hello there. Praise the Lord. Thank you for the opportunity to call.

I want to let you know I have a heavy burden. And I feel like there's a ministry that most ministries don't have and they need. An example, you know, we lead people, we want to lead people to Christ, point them to the Lord. But there are some people, let's just say they work in an environment where there's sin.

It could be the nightclub scene, it could be alcohol. To sum it up, some people work in an industry that doesn't glorify God, and some people live in homes that don't glorify God. And people want to flee, but they don't always have a way out.

And I don't really see any ministries equipping themselves to stand in the gap for people like that. So I just wanted to see if we could pray for people that want to flee, situations that don't glorify God, and that men and women of God will keep their eyes open to try to find ways to stand in the gap. Oh, I love that, Jane. I love your heart.

I mean, what a cool idea. Amazing. So I would be more than delighted, believe me, more than delighted to pray with you real quick. By all means, Jane. So let's pray. So Jesus, thank you so much for Jane.

I thank you for the heart you've given her and this burden you've given her. For this wonderful ministry idea, Lord, we don't know how you'll do it, but Lord, you call people to it. And so, you know, if we can do anything here at Truth Talk to make that happen, Lord, we pray that you would help people connect with us.

As you heard Jane's heart that there's people that are going to work every day and in an environment that clearly doesn't glorify you, and they feel stuck, and they feel like there's no way out, or maybe there's nobody to talk to. So Lord, I pray that you would rise people up, you would raise up an organization, that you would create this ministry, and maybe even an opportunity where Jane can connect with it. And Lord, again, I thank you for this vision that you've given with her, and it too is like a tithe of all of our times to think about those people who have those desperate situations, Lord, that you would make a way where there seems to be no way.

And we ask this in Jesus' name. Thank you so much. Oh, Jane, how awesome! Thank you! Thank you. I'm so grateful. And by all means, we've got a book coming your way, because you called in today, and so we're... Oh, praise the Lord! Thank you! You are absolutely the first Truth Talk four o'clock hour live listener to ever call in, so I'm just excited, Jane, that you are brave enough to do that, and of course, we're going to send you out a book your way. So thank you so much, Jane. God bless you. Thank you for being a light to the world. Amen. Amen.

All right, so how about you? 866-348-7884, 866-34-TRUTH is the number to call in and share. We would love, like, if you had something like that on your heart, you know, that's what we're here for. Truth Talk Live is designed for us to get the truth out there, to talk about the things that may be difficult to talk about, right?

But they shouldn't be hard with Christian brothers and sisters, and so, you know, whatever that looks like for you, of course we're talking about financial planning today, and little did Hans know as we left our hero right before the break that God kind of had a little bit of a different financial plan for you as he opened up this opportunity. So you had this show on this secular radio station there in Raleigh, and what happened? Well, yeah, it wasn't going very well with them, let's just put it that way. And I got a call, first, second, third show somewhere in there, and I called the lady back and spoke with her, and I was, of course, curious where she heard us, and she just was out with it. I heard you on Truth Talk, or the Truth Network, and I was just thinking to myself, well, that's good, but I'm not on the Truth Network. So, anyhow, I took care of her, and I said, you know, I've got to get with her, or I've got to validate her story, because I just kind of went along with it.

And so I went around and I found out the Truth Network was in Winston-Salem, and called them, and called you, and found out that you're not syndicating my show, you weren't spitting it out on your stations. And we kind of narrowed it down, it was a skip, it was just the station she was listening to, or that I was on, was very close to your station. And so it just jumped over to that, and that kind of brought us together, as God brought us together through what was a mistake. Yeah, and God has blessed that, isn't he? Like, I know that Cardinal Advisors, Cardinal Guide, all that stuff that we do has just really grown and grown and grown since you started that. Well, it is, and it's just, you know, it's really just our job to take the signals and just follow it, and then I put the show on with you, or we did it together, and we've helped so many people, and with so many problems, it's just been wonderful. And I've grown in my faith through my relationship with you and the Truth Network, it was all just around a little bit of an accident or something that you would say was an accident, but it really wasn't.

It was providence. Well, it was beyond cool. Well, Hans, very cool, we have another caller. Also in your area, I think, Clay's in Durham, North Carolina, so Clay, you're on Truth Talk Live.

Clay, welcome. Well, brother, let me start by saying Merry Christmas to you, and Merry Christmas to Brother Hans, and Merry Christmas to everybody out there. I know you and I briefly talked on the phone earlier, and you gave me a small indicating hint on what the area topic was going to be, so I have learned over the years by hearing people talk and preach about certain things that, you know, about tithing. But it goes so much further than giving money. I've learned to be able to tithe the time that the Lord gives me by doing stuff that I need to do for them. I remember hearing a message years ago about joy regarding Jesus, others, and yourself, and also learned that it's not about me. So I really am giving thanks to the Lord for Truth Radio and you and Brother Stu and everybody else that's there. You know, I'm really enticing the time that He's allowing me to have by sharing that with other people, sharing what I hear, you know, about, and literally and technically speaking, you know, be able to know that Jesus is the reason, you know, for yesterday.

God the Father, you know, allowed His Son. Yes, sir. I was going to say, Clay, you do a great job. I mean, you do a great job of sharing the Truth Network. We got to go to a break, but that is an opportunity for all of us, right? Well, you've got a minute with somebody, you know, why not take 10% of it and offer some, you know, truth? We'll be right back.

Okay. God bless. This is the Truth Network. Welcome back to Truth Talk Live today with Robbie Gilmore hosting, and this is the first live edition of Truth Talk Live in the four o'clock hour, and we want to remind you it's powered by the Truth Network, but most of all, it's powered by you, the listeners to the Truth Network, as we're looking for your calls at 866-348-7884, 866-344-TRUTH, whether that's a prayer request, a comment about pop culture, whatever you got.

But today we're actually talking about your money plans for 2024. You're planning your money, and we got Mike is actually in Dayton, Ohio. Mike, you're on Truth Talk Live. Good morning. Good evening.

I'll get the daytime straight in a minute. Hey, Mike. That's okay. Good evening to myself.

I'm a little dyslexic myself. My thought is the reason tithes and money is, you know, God says it's the root of all evil and being humble to God or making him your king or your savior is a humbling experience when you start giving to God through your talents or your or your money. Right. The you know, over the years, I think that tense and and the legalism of tense, you know, the the amount of the amount of money that you give based on the amount of money you make. I think that should be more what you feel with God and not so much a dogmatic attempt, because when you're first a Christian or you're a young Christian and you got a McDonald's job.

Tense of your tithe is quite a bit, especially if you're trying to raise a child and a family and in that or let's say you're a millionaire and you have tons of money and all of a sudden you have to give up some of that money. And it's a little harder because you have that money by tumbling yourself to God is a is is part of being humble to God and understanding his ways. And and that's a testimony to God. It's not so much a a command, but it is also a testimony. So and God will return.

Bless you and your giving. Yeah, because you couldn't be more right, Mike, that, you know, he wants a cheerful giver. So if you're doing it out of a legalistic, like, man, you have missed the point. This is supposed to be like the funnest thing you did all day is to be able to give to God, right?

Yes. And so what I'm trying to say is, if you're happy about doing it, like you just said, then you're going to be feeling wonderful that, hey, I obeyed God in this and I did what God wanted me to do. And I am I am striving towards heaven and God and making him my king. And this is one way many there's many things that you can give up more than just your money. And the money is is and money is is is is is is the most important thing on on to a non Christian or a non believer, because that's all they strive for mostly. And by by being humble to God about your money and letting God take care of your money. And also understanding that that's where you're where your blessings come from.

You're going to you're going to strive in God all the way through reading the Bible, getting close to him. That's just part of being a Christian. It's not it's a journey, right? It's a relationship, right? It's a relationship, sir. Yeah, you're exactly right. But that's the deal, man, is you get to know him through his word. And then he might change your mind about some of those ideas that you think about your money.

And that's kind of the deal as you get closer to him. But again, you couldn't be more right that it's supposed to be like an absolute blast. Like this is the most fun I've had yet. Right.

As as we get a chance to give your time, treasures, talents. Yeah. Yeah, it's so much fun to give somebody something and to see the joy in their face.

Oh, yeah. Because, you know, I mean, you gave them money that they need. You know, I mean, and or you gave a pastor even money or a church money and they needed it and they were going to use it for for glory of God.

And then you just gave it to him. And then the happiness and the joy that that they get from that. And then that's what God wants.

He wants he wants to. Right. Right. Well, Mike, I mean, we got other. Yeah. Yeah. I am so glad you called.

We do. And I am I am grateful we want to send you out one of those books and and I appreciate your heart, my friend. And I'm so grateful for your courage to calls today from Dayton, Ohio.

What station are you listening to there in Dayton? One oh six point five. Yes. And thank you. God bless you, Mike.

They have a great evening. All right. Bye bye. All right. Thank you, sir. Bye bye.

Bye bye. So very good. Very cool. Thank you, Mike. And we want to move to you know, it's kind of interesting what Mike shared. I've got some quotes. I call these quotables.

And so I got a little portable music that I wanted to play along with that. And so these quotes I found interesting that are right along the lines of what Mike just said. And so as I is Nick is getting my music going here for quotables.

You ready? There it is. OK, so here's one. Adrian Rogers. Adrian Rogers says God doesn't need us to give him our money. He owns everything. Tithing is God's way to grow Christians. So that's what Adrian Rogers said. And Billy Graham said, if a person gets his attitude towards money straight, it will help him straighten out almost every other area of his life. And I love Peter Marshall. And he said, give according to your income, lest God make your income according to your giving.

There that one. And how about John D. Rockefeller talk about a millionaire? He said, I never would have been able to tie the first million dollars I ever made if I had not tied my first salary, which is a dollar fifty per week. That was John D. Rockefeller. I did not know he said that. And how about Ronald Reagan said, but I also happen to be someone who believes in tithing, the giving of a tenth. Again, that was something that God did with all of them through their relationship.

And as they began to grow in that. And then I've got my good friend Bob Young on the phone and he's got a story of his own. You may know him from 109 You Pull It. He has this amazing junkyard. But you may not know the story of his success relates very much to what we're talking about.

So, Bob, you're on Truth Talk Live. Brother, it is pretty amazing how it happened. And it was a long time ago. We were pretty young in business and we were doing all right. We were rolling along.

Things were decent, you know, we were doing kind of OK for a startup place and everything. And but they got serious at church about got to talking real heavy about the we needed the family life center. And as soon as I mentioned that, I knew absolutely for sure that we needed a family life center because, you know, our churches was getting older and we weren't retaining the young people like we should have been. And people would get to a certain age and their kids would get to a certain age.

And we would lose some of them that were going to places that had a family life center and a more profound program for the young people. But when they started talking about that, my wife and I decided that we needed to up our giving. What we were given.

We were given OK, but we weren't given great. And but we believed in the need for this at the church. And we just decided that we would increase our giving and see how long we could do it like that. And so we did. And I think like two weeks, a very short period of time after we increased our giving, a guy showed up from the TV station at one and you pull it to, hey, Bob, you need a TV commercial. Well, after I got up out of the floor from laughing at him, I told him he was a very funny man.

He needed a comedy show. I mean, I thought that was the craziest thing I've ever heard a junkyard on a TV commercial. That was just not something that I thought was doable. But he explained to me how we could start out real light and they would film it for me and, you know, make the commercial and everything. So I said, well, let's give it a try. And we did. The first time we did it, I just said the words at the end of the commercial.

788-9122, we'll come get that car for you. And later on, it changed a little bit. But two months after we went on TV with that crazy commercial, two months after for every dollar we were making before the commercial, we were almost instantly making a dollar and a half. I mean, our revenue went up. It was the most successful thing. But it wasn't our plan.

You know, this guy showing up, it was not my plan. We put more money in the plate on Sunday and almost instantly God guaranteed us that we could continue to do so. Thank you, Bob. This is the Truth Network.

Truth Talk Live today is live and we are wanting your calls at 866-348-7884. We heard from Bob. We've heard from Clay. We've heard from Jane.

We haven't heard from you. So what are your thoughts on this idea of your financial plan for 2024 866-348-7884? And so I get to introduce a totally new segment, Hans. It's Dilmore's Dad Joke Digest. So here we go. And now time for Dilmore's Dad Joke Digest, your opportunity to call in and share the joke you always wanted me to hear. Call now 866-348-7884 with your dad joke 866-348-7884.

Call now. All right. And you knew I might have one or two, Hans. So feel free to answer this before we get into this more serious part of the show. What did the financial advisor, what did the financial advisor say to his client asking about if glass coffins were good investment?

What do you think? Hans, you got any ideas? Well, I got nothing on that. I'm just trying to imagine it. I don't think a glass coffin really makes a lot of sense.

Well, that's what that financial advisor actually, he said remains to be seen. Yeah, that'll get you every time, right? It's awfully hard time for me financially. You know why? Because last month I was unable to pay my bill, the Exorcist, right? And as a consequence, I've been repossessed. You may have noticed by some of these jokes. But anyway, this is your chance to call in and tell us the dad joke you always wanted Robbie to hear.

And we'll end with a really true dad joke, one that makes you go, I knew Robbie would tell that joke. So it turns out that banks have been using insects to adjust customers' balance and to deal with financial issues, especially insects. You got any idea what kind of insects they are, Nick? I'm trying to think right now what kind of insects will be. And I bet Hans may know this one.

They're account ants. There you go. So that wraps that up. And if you got a bad joke, or better yet, a dad joke, or a testimony on how tithing has helped your life, we want to hear it here at the Truth Network. 866-348-7884. 866-34-TRUTH.

So Hans, right? There is a gigantic way for people in retirement, especially people that have IRAs, to really make this tithing thing a really cool thing, but they got to do it early in 2024, right? Yeah. I mean, so what you're talking about is the QCD, the qualified charitable distribution, where you can give money straight from your IRA directly to the charity. Please don't do this at home.

You need professional help because there's several places you can mess it up. But if your heart's in the right place and you want to give money to the church and you want to do it out of your IRA, it's never going to show up on your tax return. It's just a wonderful way to give money. And you can do it once you reach age 70 and a half, which I'm certain your churches are full of retirees that are sitting on IRAs. And you can even count it as your minimum distribution for the year. Yeah, it's a really cool strategy from my standpoint.

You know, I didn't understand any of this stuff until I started interviewing Hans. But the way it works is you normally are giving money to your church, whatever that may be. You know, hopefully it's a wonderful gift, something you're very happy about. But for most people, that's not tax deductible because of the gigantic, you know, deduction everybody gets automatically, right, Hans? Yeah, the standard deduction has really, they give you credit for so much given whether you do it or not. And so just to make the tax return easier. But the flip side of that is you're not getting an extra deduction for the money you're giving, what you're tithing.

And so we've looked with our clients and they want to give and we're looking for tax efficient ways to do it. And the QCD or the qualified charitable distribution is a wonderful thing. In addition, you can leave the church as your beneficiary, even if it's for a certain amount. I mean, a lot of people in their will, they leave a certain amount of money to the church to have them make something or build something or fund something. And do that through the beneficiary designation on your IRA because the church isn't going to have to pay taxes on the money. And leave your pre-tax money or your post-tax money, leave that to your kids and donate the IRA money.

Oh, it's absolutely, it's a brilliant idea. And I was thinking about this, that in Isaiah 6 you get an idea of the Jews have taught for years that the money that you actually give to God, whatever that may be, whatever percentage you think that is, whether it's gross or net, is actually the only money you get to keep. It's the other 90% that's going to go away. You're going to spend it or save it or whatever happens. But the money that Hans talked about from Matthew 6 that's actually going to go out ahead is the money that you actually give to God. And so in Isaiah 6 there's a pretty famous passage where the guy touched his lips that were unclean and all that stuff. But I'm going to read the next verses and it says, And it says, And the idea of that tree will remain when it's cut down And so the holy seed shall be its stump. We talked about at the beginning of the show that God considers your tithe holy. And so that's the stuff that's the closest to God and it goes on into eternity because it is holy. And what he's saying here is this tenth, right, that was given, in this case the remnant, right, it goes on and on, you know, almost like the theme song to the Titanic.

It goes on and on, right, and on. And, you know, that idea of multiplying your investment, right, right, Hans? That's the idea of what the tithe really is, is really multiplying your investment. Yeah, and where I come in as the tax person, I don't want somebody to confuse that, is you don't tithe because of the tax deduction, because you tithe because of your beliefs and you're wanting to give and you're wanting to honor God. The tax deduction just allows you to give more.

And I know a lot of ways to do that, but please don't come to me trying to start with the taxes. We're going to start with the tithe and then where we're going to pull it from, we're going to try to make it effective in the tax world. Right, and IRAs are a beautiful, amazing thing, especially if you're giving them, you know, after your death. You know, the money out of your IRA is yet to be taxed, but if you give it to the church, right, there's no tax at death, right, Hans? Well, the charity is never going to pay any tax. They don't care whether it's IRA money or money out of your savings account or it doesn't matter because they're not taxed.

Your heirs do care what flavor of money or what kind of money they receive because your heirs are going to pay tax on IRA money that they've received. And so just if there's a way to do your giving through your IRA, let's take advantage of that. Yeah, and of course Hans has done all kinds of shows on this, all kinds of videos. Of course, his website, we want to remind everybody, is cardinalguide.com. If you go to cardinalguide.com, you're going to see, you know, Hans has got the seven worries tabs.

And believe me, there's a whole lot there on IRAs and a whole lot on taxes. And again, there's videos, all sorts of resources there, as well as Hans' book, The Complete Cardinal Guide to Planning for and Living in Retirement, is all there at cardinalguide.com. Plus, he's got an amazing YouTube channel, it's called Cardinal Advisors, where he has videos on all these ideas of taxes. And so we want to give you that resource for listening to today's show.

But again, I just want to just thank God, actually, for this show. Like, man, what an opportunity we have here at The Truth Network to engage you, right, the listeners, into a live call show in this hour to kind of get on the table, things that we want to, you know, that are on your heart. And so I am, you know, personally so grateful for all the listeners that have blessed me through so many shows on The Truth Network over the years. And now to come into this new opportunity at 4 o'clock every day is huge for us.

And we want you to look forward to, you know, just what God's going to do as you tell your friends to listen at 4 o'clock. Man, there's a new show, you've got to listen to it and share that and share the information about The Truth Network like Clay was talking about, right? That's all part of, you know, giving of your time and your treasure and your talents, right? If you treasure The Truth Network, man, you know, give it away.

It's completely free. And we want you to take advantage of it. Again, Hans, so much fun having you on today as always, you know, and congratulations on that grandbaby. What's, it's a hymn?

It's a hymn. His name is Pate Edwards Shile. There you go. How cool.

In a Shile, right? And the name goes on and on. It does. Well, thank you, Hans. So much fun. And thank you once again, all you who listened today. We are so blessed to have you here at The Truth Network. Thanks for listening. God bless you. Another program powered by The Truth Network.