Raising a family often presents financial challenges. That’s especially true for parents of kids with special needs. But families with a disabled child now have a special, tax-advantaged savings plan that can help meet those extra expenses. We’ll tell you about that account today on MoneyWise.

529-ABLE ACCOUNTS

The plan is called a 529-ABLE or 529-A savings plan, and it’s a huge help for families caring for a member with special needs.

Surprisingly, most families and individuals with special needs aren’t taking advantage of 529-A plans. Many parents aren’t even aware that these accounts even exist. And those who do know about them still have a lot of questions about how they work.

We talk about the 529 education savings plan a lot on the program, and the 529-A plan is nearly identical. Contributions aren’t tax-deductible, but they’re allowed to grow tax-deferred. Then, when you withdraw money from the account for qualified expenses, that money is not taxed.

Both plans are established by the states, and in most cases, the same state agency will administer both programs.

The tax benefits are identical. Contributions to a 529A account are made with after-tax dollars and are limited to $16,000 a year (in 2022). You can actually contribute more than that, but you’ll have to file IRS Form 709 for reporting gifts. Earnings on those funds are tax-deferred and distributions are tax free for qualified expenses.

The IRS refers to these as qualified disability expenses, or QDEs. A QDE is any expense related to the account owner’s blindness or disability that assists them in maintaining their health, independence or quality of life.

These would include money spent for education, housing, transportation, job training, assistive technology, health care, and financial management. In short, any expense that the 529-A beneficiary might have as a result of being disabled.

You should keep receipts for all disability related spending, but some ABLE programs also have ways to track your spending online. It’s a good idea to keep a record of how each expense is related to the disability and how it helped the beneficiary. This could come in handy if you’re audited by the IRS.

If the money is used for non-qualified expenses, it’s taxed at ordinary income rates and is subject to a 10-percent penalty just like the education savings plan.

Now, how do the 529 and 529-A plans differ? A major distinction is eligibility. For the 529-A, the beneficiary must meet the Social Security Administration’s definition of disabled. In very simple terms, that would be something that prevents the person from being able to earn a living.

Another key difference is that there’s an age limit for setting up a 529-A plan: 26. The beneficiary must be diagnosed with a qualifying disability before that age.

And unlike the education savings version, there can only be one 529-A savings account per beneficiary, and all qualified spending must be within the beneficiary’s state of residence.

That’s very different from the 529 plan, where multiple accounts are allowed, you can choose a plan from any state, and spend the money for school in any state. So there are some restrictions with the 529-A plan.

But those limits aren’t insurmountable, especially compared to the benefits of the program. In addition to the tax benefits, the beneficiary is still eligible for federal and state aid for the disabled.

On the federal level, that aid could be Supplemental Security Income or Medicaid. And states may provide additional benefits. The beneficiary is only denied those benefits if the balance in the 529-A account exceeds $100,000. But even then, the suspension isn’t permanent. Once the balance falls below that amount, the beneficiary is again eligible for aid.

Now, it would be great if every family with a disabled member could open a 529-A account, but unfortunately not every state offers one. There are still a few hold outs, so you have to check if your state has a plan.

But if you’re caring for a special needs person and your state has a plan, you need to make the most of it. You want to make sure the disability is diagnosed before age 26, and you want to contribute as much as you can every year up to the limit.

You also need to get very familiar with the list of qualified expenses so you can take maximum advantage of the plan.

You can go to IRS.gov for more information on that.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

● When does it make sense to pull money out of the stock market and make your investments more conservative?

● What questions should you ask when trying to find the CPA/financial advisor?

RESOURCES MENTIONED

● Find a Certified Kingdom Advisor

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to [email protected]. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion! Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Did you know that Improving your credit score by just a few points could save you hundreds of dollars a year? It’s true. Your credit score tells lenders three things:whetherto lend to you; howmuchto lend to you; and at whatinterest rate. Neile Simon joins Rob West today with tips to improve your credit score.

Neile Simon is a Certified Credit Counselor withChristian Credit Counselors.

CREDIT SCORE DETERMINING FACTORS

The following factors will determine your credit score:

●Payment History: 35%.Paying your bills is hands-down the most important factor.

●Credit Utilization: 30%.Try to keep your credit balances below 30% of your total available credit.

●Length of Credit History: 15%.The longer your track record, the better.

●New Credit: 10%.When you apply for new credit, inquiries remain on your credit report for two years. FICO Scores only consider inquiries from the last 12 months. (source: myfico.com)

●Types of Credit:10%. Paying on-time on a variety of different types of loans can help, brut is by no means the most important factor.

THE IMPORTANCE OF A STRONG CREDIT SCORE

Your credit score can affect numerous things, such as:

●Your credit score could affect your ability to rent a home or apartment

●Prospective employers may check your credit score to determine how responsible you are.

●Those with poor credit may have to pay large deposits to hook up utilities are open a non-prepaid cell phone account.

●Your credit can also impact your ability to start a business or take advantage of other opportunities.

HOW TO IMPROVE YOUR CREDIT SCORE

If your credit isn’t great, here are a few tips to improve it:

●Pay your bills on time! Again, this is the biggest factor determining your credit score.

●Become an authorized user on someone else’s credit account. Just be aware that if they are late on their payments, it could adversely affect you too.

●Open a secured credit card account. This type of account allows you to make a cash deposit to secure your line of credit. This can be a great option for a young person with no credit history.

●Credit cards that offer higher interest but not as strict with credit history. Examples: Credit One, First Premier.

●Get your credit reports from Experian, TransUnion and Equifax to ensure there is no incorrect information. You can access your reports atAnnualCreditReport.com.

●If you find any errors on your report, dispute them!

●If you have debts in collections, work with your creditor to make the account current or at least agree to structure payment arrangements.

●Get credit for making rent and utility payments on time. Several companies offer the service of reporting your payments to the credit bureaus.

HOW CREDIT COUNSELING CAN HELP

Sometimes, you need help to get on top of your debt. That’s critical for improving your credit.Christian Credit Counselorscan be a great option.

Christian Credit Counselors does not arrange debtconsolidation. Instead, they help you set up a debtmanagementprogram to pay off your debts in full up to 80% faster, at a lower interest rate and with very manageable payments.

Working with a credit counseling agency does not negatively affect your credit score.

A combination of the high balances and how many accounts you close is what will determine your credit score at the start of the Debt Management Program. As you pay down your balances and pay off your accounts through the program, your score will continue to improve.

Your credit report will show a history of consistent on time payments and it will show that your balances are decreasing and accounts are being paid off.

When you complete your Debt Management Plan not only will you be debt free but you’ll also see an improvement in your credit score and overall financial situation.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●What is the best way to invest money for the short term for a family with three young kids?

●When does it make sense to take money out of savings and invest it?

RESOURCES MENTIONED

●Find a Certified Kingdom Advisor

●Sound Mind Investing

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Did you know that Improving your credit score by just a few points could save you hundreds of dollars a year? It’s true. Your credit score tells lenders three things: whether to lend to you; how much to lend to you; and at what interest rate. Neile Simon joins Rob West today with tips to improve your credit score.

Neile Simon is a Certified Credit Counselor with Christian Credit Counselors.

CREDIT SCORE DETERMINING FACTORS

The following factors will determine your credit score:

● Payment History: 35%. Paying your bills is hands-down the most important factor.

● Credit Utilization: 30%. Try to keep your credit balances below 30% of your total available credit.

● Length of Credit History: 15%. The longer your track record, the better.

● New Credit: 10%. When you apply for new credit, inquiries remain on your credit report for two years. FICO Scores only consider inquiries from the last 12 months. (source: myfico.com)

● Types of Credit: 10%. Paying on-time on a variety of different types of loans can help, brut is by no means the most important factor.

THE IMPORTANCE OF A STRONG CREDIT SCORE

Your credit score can affect numerous things, such as:

● Your credit score could affect your ability to rent a home or apartment

● Prospective employers may check your credit score to determine how responsible you are.

● Those with poor credit may have to pay large deposits to hook up utilities are open a non-prepaid cell phone account.

● Your credit can also impact your ability to start a business or take advantage of other opportunities.

HOW TO IMPROVE YOUR CREDIT SCORE

If your credit isn’t great, here are a few tips to improve it:

● Pay your bills on time! Again, this is the biggest factor determining your credit score.

● Become an authorized user on someone else’s credit account. Just be aware that if they are late on their payments, it could adversely affect you too.

● Open a secured credit card account. This type of account allows you to make a cash deposit to secure your line of credit. This can be a great option for a young person with no credit history.

● Credit cards that offer higher interest but not as strict with credit history. Examples: Credit One, First Premier.

● Get your credit reports from Experian, TransUnion and Equifax to ensure there is no incorrect information. You can access your reports at AnnualCreditReport.com.

● If you find any errors on your report, dispute them!

● If you have debts in collections, work with your creditor to make the account current or at least agree to structure payment arrangements.

● Get credit for making rent and utility payments on time. Several companies offer the service of reporting your payments to the credit bureaus.

HOW CREDIT COUNSELING CAN HELP

Sometimes, you need help to get on top of your debt. That’s critical for improving your credit. Christian Credit Counselors can be a great option.

Christian Credit Counselors does not arrange debt consolidation. Instead, they help you set up a debt management program to pay off your debts in full up to 80% faster, at a lower interest rate and with very manageable payments.

Working with a credit counseling agency does not negatively affect your credit score.

A combination of the high balances and how many accounts you close is what will determine your credit score at the start of the Debt Management Program. As you pay down your balances and pay off your accounts through the program, your score will continue to improve.

Your credit report will show a history of consistent on time payments and it will show that your balances are decreasing and accounts are being paid off.

When you complete your Debt Management Plan not only will you be debt free but you’ll also see an improvement in your credit score and overall financial situation.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

● What is the best way to invest money for the short term for a family with three young kids?

● When does it make sense to take money out of savings and invest it?

RESOURCES MENTIONED

● Find a Certified Kingdom Advisor

● Sound Mind Investing

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to [email protected]. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion! Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

President Abraham Lincoln once said,Give me six hours to chop down a tree, and I’ll spend the first hour sharpening the axe.Obviously, Lincoln believed in planning and his skill at it no doubt helped save the Union. Are you a planner? Especially with your finances? Ron Blue joins Rob West today to discuss the power of planning.

Ron Blue is the founder ofKingdom Advisorsand author ofMaster Your Money.

4 TRUTHS FOR FINANCIAL PLANNING

Ron says there are four truths that Christians should use to guide their financial planning:

1.All of us have limited resources.

2.Consequently, more uses of money are available than money available.

3.Today's decisions determine destiny. (A dollar spent is gone forever and can never be used in the future for anything else.)

4.The longer term the perspective, the better potential for wise decisions.

Most of us are responders rather than planners. We respond to friends, advertising, and our emotions rather than planning our spending. Financial planning is allocating limited financial resources among unlimited alternatives.

BENEFITS OF FINANCIAL PLANNING

When we know for certain what financial resources we have and plan to use them to accomplish God-given goals and objectives, we live in peace and contentment from making order out of chaos. Our frustration in having to choose among overwhelming choices disappears. We are freed from the pressures of the short-term, self-gratifying society around us. We are free to be different.

THE PURPOSE OF FINANCIAL PLANNING

Obviously, the aim of financial planning is to accumulate resources. But that should never be an end in itself. They are accumulated solely for the reason of using them to accomplish some purpose, goal, or objective.

For example, you don't take a vacation or buy a car just to spend money but rather to provide something else such as recreation or transportation.

Ask yourself, What am I really trying to accomplish?" This question helps to focus the decision on real objectives.

In the short-term, there are basically only five spending objectives; in the long-term, only six. Every spending decision or use of money accomplishes one of these eleven objectives.

5 SHORT-TERM OBJECTIVES OF PLANNING

These are the only short term objectIVES for all income coming into a household. It can be:

1.Given away

2.Spent to support a lifestyle

3.Used for the repayment of debt

4.Used to meet tax obligations

5.Saved (cash-flow margin)

Every spending decision, in the short-term, will fit into one of these five categories.

How your money is allocated among the five categories is determined by just two factors: the commitments you already have and your priorities.

Commitments would be things like housing, utilities, food, insurance, taxes and so on. Your priorities dictate the use of your remaining resources. Many people would state their priorities are giving and saving, but in reality, these uses wind up at the bottom of the priority ladder.

Ron says for many American Christians, lifestyle is their top priority, and second, because of their lifestyle, debt repayment. Taxes would be a third priority because they have no choice; fourth would be saving; and finally, giving.

LONG-TERM OBJECTIVES OF FINANCIAL PLANNING

There are six common long-term objectives to financial planning. These can only be accomplished if we’re living below our means and have our cash-flow margin. That means more money coming in than going out.

That allows us to grow our net worth, not for the sake of big numbers but for the purpose of meeting one of our long-term objectives. They are:1.Financial independence

2.Providing for family needs, including, college and care for aging parents

3.Paying off debt

4.Major lifestyle changes

5.Major charitable giving

6.Owning your own business

If you can define and quantify these long-term objectives, then you’ll have answered the question: How much is enough? You know now what your "finish lines" are.

It’s much like a runner who runs the race until he breaks the tape. Very few runners continue after they’ve broken the tape. Yet in our financial lives, many of us never stop running because we don’t know where the finish line is. We’ve never quantified where we’re headed, and therefore we don’t know when we’ve arrived.

So we have a challenge: We need to determine where we’re going, both in the short-term and in the long-term.

THE FINANCIAL PLANNING PROCESS

The financial planning process has four steps. You need to:

1:Summarize your present situation.

2:Establish your financial goals and objectives.

3:Plan to increase your cash-flow margin.

4:Control your cash flow.

REMEMBER

In closing. you need to remember three things:

First, there are no independent financial decisions. If you make a decision to use money in any one area, by definition, you have chosen not to use those same resources in the other areas.

Second, the longer term perspective you have, the better the possibility of making a good financial decision now.

And third is the lifetime nature of financial decisions. Whenever money is used, it’s gone forever and can never be used for anything in the future. Once I make a decision either to save or spend, I’ve determined, to some extent, my financial destiny and I’ve indicated what I believe to be most valuable.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●How does a young adult establish and build credit for the first time?

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

President Abraham Lincoln once said, Give me six hours to chop down a tree, and I’ll spend the first hour sharpening the axe. Obviously, Lincoln believed in planning and his skill at it no doubt helped save the Union. Are you a planner? Especially with your finances? Ron Blue joins Rob West today to discuss the power of planning.

Ron Blue is the founder of Kingdom Advisors and author of Master Your Money.

4 TRUTHS FOR FINANCIAL PLANNING

Ron says there are four truths that Christians should use to guide their financial planning:

1. All of us have limited resources.

2. Consequently, more uses of money are available than money available.

3. Today's decisions determine destiny. (A dollar spent is gone forever and can never be used in the future for anything else.)

4. The longer term the perspective, the better potential for wise decisions.

Most of us are responders rather than planners. We respond to friends, advertising, and our emotions rather than planning our spending. Financial planning is allocating limited financial resources among unlimited alternatives.

BENEFITS OF FINANCIAL PLANNING

When we know for certain what financial resources we have and plan to use them to accomplish God-given goals and objectives, we live in peace and contentment from making order out of chaos. Our frustration in having to choose among overwhelming choices disappears. We are freed from the pressures of the short-term, self-gratifying society around us. We are free to be different.

THE PURPOSE OF FINANCIAL PLANNING

Obviously, the aim of financial planning is to accumulate resources. But that should never be an end in itself. They are accumulated solely for the reason of using them to accomplish some purpose, goal, or objective.

For example, you don't take a vacation or buy a car just to spend money but rather to provide something else such as recreation or transportation.

Ask yourself, What am I really trying to accomplish?" This question helps to focus the decision on real objectives.

In the short-term, there are basically only five spending objectives; in the long-term, only six. Every spending decision or use of money accomplishes one of these eleven objectives.

5 SHORT-TERM OBJECTIVES OF PLANNING

These are the only short term objectIVES for all income coming into a household. It can be:

1. Given away

2. Spent to support a lifestyle

3. Used for the repayment of debt

4. Used to meet tax obligations

5. Saved (cash-flow margin)

Every spending decision, in the short-term, will fit into one of these five categories.

How your money is allocated among the five categories is determined by just two factors: the commitments you already have and your priorities.

Commitments would be things like housing, utilities, food, insurance, taxes and so on. Your priorities dictate the use of your remaining resources. Many people would state their priorities are giving and saving, but in reality, these uses wind up at the bottom of the priority ladder.

Ron says for many American Christians, lifestyle is their top priority, and second, because of their lifestyle, debt repayment. Taxes would be a third priority because they have no choice; fourth would be saving; and finally, giving.

LONG-TERM OBJECTIVES OF FINANCIAL PLANNING

There are six common long-term objectives to financial planning. These can only be accomplished if we’re living below our means and have our cash-flow margin. That means more money coming in than going out.

That allows us to grow our net worth, not for the sake of big numbers but for the purpose of meeting one of our long-term objectives. They are:

1. Financial independence

2. Providing for family needs, including, college and care for aging parents

3. Paying off debt

4. Major lifestyle changes

5. Major charitable giving

6. Owning your own business

If you can define and quantify these long-term objectives, then you’ll have answered the question: How much is enough? You know now what your "finish lines" are.

It’s much like a runner who runs the race until he breaks the tape. Very few runners continue after they’ve broken the tape. Yet in our financial lives, many of us never stop running because we don’t know where the finish line is. We’ve never quantified where we’re headed, and therefore we don’t know when we’ve arrived.

So we have a challenge: We need to determine where we’re going, both in the short-term and in the long-term.

THE FINANCIAL PLANNING PROCESS

The financial planning process has four steps. You need to:

1: Summarize your present situation.

2: Establish your financial goals and objectives.

3: Plan to increase your cash-flow margin.

4: Control your cash flow.

REMEMBER

In closing. you need to remember three things:

First, there are no independent financial decisions. If you make a decision to use money in any one area, by definition, you have chosen not to use those same resources in the other areas.

Second, the longer term perspective you have, the better the possibility of making a good financial decision now.

And third is the lifetime nature of financial decisions. Whenever money is used, it’s gone forever and can never be used for anything in the future. Once I make a decision either to save or spend, I’ve determined, to some extent, my financial destiny and I’ve indicated what I believe to be most valuable.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

● How does a young adult establish and build credit for the first time?

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to [email protected]. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion! Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Do you fear the future and the uncertainty that comes with it? We never know what tomorrow will bring, but we can be confident if we know our true source of hope. We’ll find peace of mind rooted in God’s Word today on MoneyWise.

LET’S TALK ABOUT HOPE

Jeremiah 29:11 reads, For I know the plans I have for you, declares the Lord, plans for welfare and not for evil, to give you a future and a hope.

When we walk with Christ, our hope focuses on the eternal. Putting our hope in the One who promised to rise from the dead and did! He keeps all of His promises.

In Matthew 6, Jesus tells His disciples, Do not be anxious, saying, What shall we eat?’ or What shall we drink?’ or What shall we wear?’ For your heavenly Father knows that you need them all. But seek first the kingdom of God and his righteousness, and all these things will be added to you.

And in Philippians 4:6, Paul gives us a prescription for confidence. He says, Do not be anxious about anything, but in everything by prayer and supplication with thanksgiving let your requests be made known to God.

We never want to put our hope in our bank account, because that would be putting our trust in our money. And the Bible is clear you cannot serve two masters. You can serve God OR money, but not both.

WHY DO WE DESPAIR?

America is the richest nation in history. Most of our poor are far better off than most people around the world. Yet we often find ourselves in despair and without hope.

It could be that our expectations come from looking at others around us and then falling into the deadly comparison trap. Our expectations become relative to the Joneses next door. We assume that God will make us at least as successful as the guy in the cubicle next to us.

That leads to another problem if we begin to think that we’re not blessed because we aren’t spiritual enough. Then we begin to worry that others will think we aren’t very spiritual. Otherwise, God would bless us. This is entirely unbiblical. God promises to provide for our needs, not our wants.

And we will have difficulties in life financial and otherwise. And the Bible tells us how to deal with them. In James 1 we’re told, Count it all joy, my brothers, when you meet trials of various kinds.

And in Romans 5, More than that, we rejoice in our sufferings, knowing that suffering produces endurance.

God uses trials in life to shape our character into the image of Christ. Because you are saved by faith and not of your own works you’re already spiritual enough.

We’re to follow the financial principles laid out in the Bible. Earn, save and giv, and then rely on God for the results.

High prices and rising inflation don’t negate His principles. Still, when the primary provider in a household can’t provide as much as those around him or her, discouragement and fear may set in.

And that can be especially troublesome for parents if they’re unable to shower their kids with expensive gifts like the neighbors do. Too often, they resort to credit cards and debt, hoping to not disappoint the kids.

SHARING ONE ANOTHER’S BURDENS

And sometimes those around us have real needs and are struggling. What if their financial needs could be helped by the abundance God has blessed most of us with? What if that’s the exact reason God’s given some people more than they require?

The church in Acts 2 is our model for helping, supporting and feeding one another. There we read, They had all things in common and began selling their property and possessions, and were sharing them all, as anyone might have need.

Of course, that doesn’t mean we should live communally. But meeting each other’s needs when someone is going through a difficult time is the minimum God expects.

Proverbs 17 reminds us A friend loves at all times, and a brother is born for adversity And our love for one another is supposed to be the chief sign to the world of our changed lives and Whom we serve God, the source of all our hope.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●How are Social Security payments structured for widows?

●How can you build your credit without credit cards?

●What are your options to invest in a faith-based way?

RESOURCES MENTIONED

●Find a Certified Kingdom Advisor

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Do you fear the future and the uncertainty that comes with it? We never know what tomorrow will bring, but we can be confident if we know our true source of hope. We’ll find peace of mind rooted in God’s Word today on MoneyWise.

LET’S TALK ABOUT HOPE

Jeremiah 29:11 reads, For I know the plans I have for you, declares the Lord, plans for welfare and not for evil, to give you a future and a hope.

When we walk with Christ, our hope focuses on the eternal. Putting our hope in the One who promised to rise from the dead and did! He keeps all of His promises.

In Matthew 6, Jesus tells His disciples, Do not be anxious, saying, What shall we eat?’ or What shall we drink?’ or What shall we wear?’ For your heavenly Father knows that you need them all. But seek first the kingdom of God and his righteousness, and all these things will be added to you.

And in Philippians 4:6, Paul gives us a prescription for confidence. He says, Do not be anxious about anything, but in everything by prayer and supplication with thanksgiving let your requests be made known to God.

We never want to put our hope in our bank account, because that would be putting our trust in our money. And the Bible is clear you cannot serve two masters. You can serve God OR money, but not both.

WHY DO WE DESPAIR?

America is the richest nation in history. Most of our poor are far better off than most people around the world. Yet we often find ourselves in despair and without hope.

It could be that our expectations come from looking at others around us and then falling into the deadly comparison trap. Our expectations become relative to the Joneses next door. We assume that God will make us at least as successful as the guy in the cubicle next to us.

That leads to another problem if we begin to think that we’re not blessed because we aren’t spiritual enough. Then we begin to worry that others will think we aren’t very spiritual. Otherwise, God would bless us. This is entirely unbiblical. God promises to provide for our needs, not our wants.

And we will have difficulties in life financial and otherwise. And the Bible tells us how to deal with them. In James 1 we’re told, Count it all joy, my brothers, when you meet trials of various kinds.

And in Romans 5, More than that, we rejoice in our sufferings, knowing that suffering produces endurance.

God uses trials in life to shape our character into the image of Christ. Because you are saved by faith and not of your own works you’re already spiritual enough.

We’re to follow the financial principles laid out in the Bible. Earn, save and giv, and then rely on God for the results.

High prices and rising inflation don’t negate His principles. Still, when the primary provider in a household can’t provide as much as those around him or her, discouragement and fear may set in.

And that can be especially troublesome for parents if they’re unable to shower their kids with expensive gifts like the neighbors do. Too often, they resort to credit cards and debt, hoping to not disappoint the kids.

SHARING ONE ANOTHER’S BURDENS

And sometimes those around us have real needs and are struggling. What if their financial needs could be helped by the abundance God has blessed most of us with? What if that’s the exact reason God’s given some people more than they require?

The church in Acts 2 is our model for helping, supporting and feeding one another. There we read, They had all things in common and began selling their property and possessions, and were sharing them all, as anyone might have need.

Of course, that doesn’t mean we should live communally. But meeting each other’s needs when someone is going through a difficult time is the minimum God expects.

Proverbs 17 reminds us A friend loves at all times, and a brother is born for adversity And our love for one another is supposed to be the chief sign to the world of our changed lives and Whom we serve God, the source of all our hope.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

● How are Social Security payments structured for widows?

● How can you build your credit without credit cards?

● What are your options to invest in a faith-based way?

RESOURCES MENTIONED

● Find a Certified Kingdom Advisor

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to [email protected]. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion! Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Scripture has a lot to say about debt, spending and generosity. What’s often overlooked is how much God’s Word says about investing. Today, investing professional Jason Myhre joins Rob West to dive into what the Bible tells us about investing.

Jason Myhre is Executive Director of the Eventide Center for Faith Investing, an educational initiative of Eventide Asset Management and an underwriter of MoneyWise.

THE PARABLE OF THE TALENTS

The parable of the talents is one of the parables of Jesus. And the story goes that a wealthy master had three servants. He goes away on a long journey and he leaves behind his wealth to be managed by his three servants in his absence.

While he was away, these servants engaged in business dealings and it even says trading to generate a return on this investment.

One servant was given one talent. Another was given two talents. And another was given five talents.

A talent was actually a measure ofweight. When it was used as a measure of money, it was equal to 80 pounds worth of silver. And 80 pounds worth of silver was equivalent to 6,000 denarii. And one denarius was the wage that was commonly given for a day’s labor. So, putting all that together, one talent was equivalent to about 16 years worth of labor.

The person who received five talents for example had about 84 years worth of earnings. And so this seems very much like the practice of wealth management.

So, eventually the master comes back, and and we all know what happens.

One servant buried the money in a field, because he was afraid of losing his master’s money. And so he acted wickedly.

But two of the servants were able to grow the money that they were entrusted with, and they presented their profits to the master. This is the passage where we get the famous phrase that we all long to hear:

Well done, good and faithful servant.

So investing seems to be something that’s biblically sanctioned. But Jason Myhre says the interpretation many take from this parable misses the mark.

DON’T MISS THE FULL MEANING

To the parable of the talents, people often add other biblical principles, such as the principle of diversification, which we find in Ecclesiastes; things like having a long time-horizon, which we find in Proverbs, etc.

Many conclude that for Christians, investing simply means following biblical principles to generate a return on an investment. But let’s think more deeply.

Jesus himself told us that his parables are not plain.

He said that the parables contain the knowledge of the secrets about the kingdom of heaven. They’re not about the plain elements of the stories but explain the mysteries about the kingdom of God. This is why Jesus would almost always accompany parables with this saying, He who has ears should use them! He’s telling us repeatedly to thoughtfully consider, to contemplate the parables, to ponder, to think deeply about them.

The late pastor Eugene Peterson puts it this way: He said that Jesus was often not the type to tell it straight. Rather, as the title of one of Peterson’s books reads, Jesus liked to tell it slant. Jesus spoke more like a poet than a scribe.

Do you remember the parable of the pearl?

There was a merchant of pearls who was seeking the rarest of pearls, the pearl of great price. And having found the pearl, he sold all he had to buy it.

We don’t take the plain elements of this parable and conclude that Christians should be investing in rare pearls, right? No, the pearl is about the preciousness and pricelessness of Jesus and His kingdom.

Consider another parable of the minas in Luke’s gospel. We learn that the master is going away to be crowned king and that when he comes back he will reign. This is king Jesus who is coming again to reign.

The wealth that master entrusts to his servants is the good news about the kingdom of heaven. And we are to proclaim this good news in a world that opposes him.

When the servants take this wealth and put it work in the marketplace, this is about Jesus’ followers publicly identifying with him and witnessing to a world that hates him.

Remember Jesus said, if you confess me before men, I will confess you before the Father. But if you deny me before men, then I will deny you before the Father.

The kingdom message is to be proclaimed with the whole of our lives, publicly, conspicuously. We are not to take this message and hide it away in field, but to get out there in the marketplace of the world and proclaim him with the whole of our lives, speaking the words of the kingdom and displaying the kingdom with our radically different lives.

THE TAKEAWAY

So what should we take away from the parable of the talents for our investing?

Even though the parable is about the secrets of the kingdom of God, that’s not to say there’s nothing we can glean from this passage for our investing today.

The key insight for our investing comes from a deeper reflection on what it means to be a steward of the master.

To be a steward of the master means to be faithful to the master’s character. As Dr. Amy Sherman wrote for us at the Eventide Center for Faith Investing, the ideal servant was one who knew his master’s mind so well that he could anticipate the master’s wishes and take initiative.’ The good and faithful servant acted with the mind of the master, understanding his priorities and passions. In other words, the good and faithful steward makes the kind of investments that the master would make.

Financial advisor friend Harry Pearson put in a recent interview: He said, If we believe that God is the owner of all things, then that makes us the steward of his things. And if we’re the steward of his things, shouldn’t we consider aligning his assets with his principles and with companies that bless mankind, instead of cause harm.

To make investments on God’s behalf means to make investments that maximize blessing for others, not merely return. And it means to forego investments that profit off the misery of others.

FAITH-BASED INVESTING

How can faith-based investing can help us as we seek to be faithful to the master in our investing lives today?

Jason Myhre says faith-based investing is an approach to investing that seeks to generate an attractive return to investors by investing in companies whose products and practices we believe are well-aligned with the character of the master.

Those are companies who are creating value for customers, employees, suppliers, communities, and society and whose practices demonstrate care for creation in their use of natural resources.

To learn more about faith-based investing, you can visit theEventide Center for Faith Investing. It’s designed to help Christians apply their faith to their investing with articles and videos to help you understand the practice of faithful investing better.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●How do you weigh your home buying options in a late stage of life?

●What is the best way to invest funds from an inheritance?

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Scripture has a lot to say about debt, spending and generosity. What’s often overlooked is how much God’s Word says about investing. Today, investing professional Jason Myhre joins Rob West to dive into what the Bible tells us about investing.

Jason Myhre is Executive Director of the Eventide Center for Faith Investing, an educational initiative of Eventide Asset Management and an underwriter of MoneyWise.

THE PARABLE OF THE TALENTS

The parable of the talents is one of the parables of Jesus. And the story goes that a wealthy master had three servants. He goes away on a long journey and he leaves behind his wealth to be managed by his three servants in his absence.

While he was away, these servants engaged in business dealings and it even says trading to generate a return on this investment.

One servant was given one talent. Another was given two talents. And another was given five talents.

A talent was actually a measure of weight. When it was used as a measure of money, it was equal to 80 pounds worth of silver. And 80 pounds worth of silver was equivalent to 6,000 denarii. And one denarius was the wage that was commonly given for a day’s labor. So, putting all that together, one talent was equivalent to about 16 years worth of labor.

The person who received five talents for example had about 84 years worth of earnings. And so this seems very much like the practice of wealth management.

So, eventually the master comes back, and and we all know what happens.

One servant buried the money in a field, because he was afraid of losing his master’s money. And so he acted wickedly.

But two of the servants were able to grow the money that they were entrusted with, and they presented their profits to the master. This is the passage where we get the famous phrase that we all long to hear:

Well done, good and faithful servant.

So investing seems to be something that’s biblically sanctioned. But Jason Myhre says the interpretation many take from this parable misses the mark.

DON’T MISS THE FULL MEANING

To the parable of the talents, people often add other biblical principles, such as the principle of diversification, which we find in Ecclesiastes; things like having a long time-horizon, which we find in Proverbs, etc.

Many conclude that for Christians, investing simply means following biblical principles to generate a return on an investment. But let’s think more deeply.

Jesus himself told us that his parables are not plain.

He said that the parables contain the knowledge of the secrets about the kingdom of heaven. They’re not about the plain elements of the stories but explain the mysteries about the kingdom of God. This is why Jesus would almost always accompany parables with this saying, He who has ears should use them! He’s telling us repeatedly to thoughtfully consider, to contemplate the parables, to ponder, to think deeply about them.

The late pastor Eugene Peterson puts it this way: He said that Jesus was often not the type to tell it straight. Rather, as the title of one of Peterson’s books reads, Jesus liked to tell it slant. Jesus spoke more like a poet than a scribe.

Do you remember the parable of the pearl?

There was a merchant of pearls who was seeking the rarest of pearls, the pearl of great price. And having found the pearl, he sold all he had to buy it.

We don’t take the plain elements of this parable and conclude that Christians should be investing in rare pearls, right? No, the pearl is about the preciousness and pricelessness of Jesus and His kingdom.

Consider another parable of the minas in Luke’s gospel. We learn that the master is going away to be crowned king and that when he comes back he will reign. This is king Jesus who is coming again to reign.

The wealth that master entrusts to his servants is the good news about the kingdom of heaven. And we are to proclaim this good news in a world that opposes him.

When the servants take this wealth and put it work in the marketplace, this is about Jesus’ followers publicly identifying with him and witnessing to a world that hates him.

Remember Jesus said, if you confess me before men, I will confess you before the Father. But if you deny me before men, then I will deny you before the Father.

The kingdom message is to be proclaimed with the whole of our lives, publicly, conspicuously. We are not to take this message and hide it away in field, but to get out there in the marketplace of the world and proclaim him with the whole of our lives, speaking the words of the kingdom and displaying the kingdom with our radically different lives.

THE TAKEAWAY

So what should we take away from the parable of the talents for our investing?

Even though the parable is about the secrets of the kingdom of God, that’s not to say there’s nothing we can glean from this passage for our investing today.

The key insight for our investing comes from a deeper reflection on what it means to be a steward of the master.

To be a steward of the master means to be faithful to the master’s character. As Dr. Amy Sherman wrote for us at the Eventide Center for Faith Investing, the ideal servant was one who knew his master’s mind so well that he could anticipate the master’s wishes and take initiative.’ The good and faithful servant acted with the mind of the master, understanding his priorities and passions. In other words, the good and faithful steward makes the kind of investments that the master would make.

Financial advisor friend Harry Pearson put in a recent interview: He said, If we believe that God is the owner of all things, then that makes us the steward of his things. And if we’re the steward of his things, shouldn’t we consider aligning his assets with his principles and with companies that bless mankind, instead of cause harm.

To make investments on God’s behalf means to make investments that maximize blessing for others, not merely return. And it means to forego investments that profit off the misery of others.

FAITH-BASED INVESTING

How can faith-based investing can help us as we seek to be faithful to the master in our investing lives today?

Jason Myhre says faith-based investing is an approach to investing that seeks to generate an attractive return to investors by investing in companies whose products and practices we believe are well-aligned with the character of the master.

Those are companies who are creating value for customers, employees, suppliers, communities, and society and whose practices demonstrate care for creation in their use of natural resources.

To learn more about faith-based investing, you can visit the Eventide Center for Faith Investing. It’s designed to help Christians apply their faith to their investing with articles and videos to help you understand the practice of faithful investing better.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

● How do you weigh your home buying options in a late stage of life?

● What is the best way to invest funds from an inheritance?

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to [email protected]. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion! Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Nineteenth century author Ambrose Bierce once said, Death is not the end. There remains the litigation over the estate. Humor aside, dying without a will is a sure way to leave your loved ones a legal mess in the probate court and family feuding over who gets what. But you can spare them that difficulty. We’ll explain today on MoneyWise.

So let’s get into the reasons why you need to draw up a written will if you haven’t already, and along the way we can dispel some of the misconceptions about wills.

Without a will, it will be up to probate courts to determine how your estate will be handled upon death. State law will determine who gets what, and that may be contrary to your wishes.

PREPARING A WILL IS AN ACT OF LOVE TOWARD YOUR LOVED ONES

Maybe the biggest reason that you need a will is that it will reduce the likelihood of family disputes after you’re gone. In a will, you can leave specific instructions as to who gets what, potentially eliminating all the squabbling.

It’s true that your heirs could still have hard feelings even if inheritances are clearly spelled out, but a will isn’t just a set of instructions. It’s a document that can express not just your intentions, but your reasons behind them.

Our friend Ron Blue spells this out clearly in his book,Splitting Heirs. Simply dividing up your assets equally might be fair, but it isn’t necessarily biblical. Ron says, Wisdom can create wealth, but wealth almost never creates wisdom.

One child may not be capable of handling money, or another might have much greater needs than your other heirs. So explaining why you’re dividing things a certain way can also help eliminate family fighting. Ron also says that if you love your children equally, you’ll treat them uniquely.

There are other reasons to draw up a will. It’s a great way to itemize your assets. Without a specific list of your holdings and possessions, the probate court could take months or years sifting through your financial records.

Another good reason to draw up a will is that it can help you provide for heirs with special needs. If one of your heirs is too young or immature to manage money, you can place restrictions on the inheritance with a will. You can also do that with a living or revocable trust.

A WILL ALLOWS YOU TO DECIDE WHO WILL CARE FOR YOUR CHILDREN

There’s one more really important reason for having a will, and this one’s often a real sticking point for couples with children. A will enables you to name a guardian for your children. This is one of the reasons that some parents procrastinate in making out a will, because it forces them to decide who will care for the kids should something happen to them. That’s not a pleasant thought and quite often, it’s a tough decision to make.

MISCONCEPTIONS ABOUT WILLS

Turning now to some of the misconceptions about wills, the one you hear most often is, I don’t need one. But we just talked about how a will allows you to name who’ll care for your children if something happens to you. Without a will, the state decides who raises your kids as well as who gets all of your assets.

Another misconception is that your spouse automatically gets everything you have, so you don’t really need a will. That’s the case most of the time, but different states have different rules.

For example, your state may require that your assets be divided equally among your spouse, children or grandchildren, whether you wanted that or not. So you can’t assume your spouse will inherit everything. You can avoid all that by having a will in place.

Okay, our last myth is, drawing up a will is too expensive. The truth is, writing a will is one of the least costly things that attorneys do. Many of them charge a flat fee to write a will or other basic estate planning documents. The average cost for drawing up a will is around $500.

Of course, you can do it even cheaper by filling in the blanks at one of those online legal form sites. That may work just fine, but an attorney can help you address issues that may not come up with the do it yourself approach.

And of course, you can find an attorney or estate planner who shares your values when youlook for a Certified Kingdom Advisor at MoneyWise.org.

LISTENER QUESTIONS

On today’s program, Rob also answers listener questions:

●What is the purpose of work (working for a living)?

●What is an ideal amount to have saved in a 401k at age 48?

●How can you move money from a 401k into a Roth IRA, and would that make sense?

●How do you determine what to do with your money after becoming debt free?

●What is the best way to learn the basics of budgeting and managing money?

RESOURCES MENTIONED DURING THIS PROGRAM

●Find a Certified Kingdom Advisor

●Your Money Counts by Howard Dayton (book)

●MoneyWise App

Remember, you can call in to ask your questions most days at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29