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

It’s that time of year again! Time to consider your healthcare needs for 2022. Yes, in a few days it’ll be healthcareopen season. Lauren Gajdek is with us today to talk about a great way to meet your healthcare expenses and one that will almost certainly save you money.

Lauren Gajdek is theVice President of Communications and Media at Christian Healthcare Ministries where they give believers an alternative way to meet their health care costs.

Open enrollment is a window of time when you can sign up for new or different financial programs, like opening your first investment account or switching health insurance plans.

The 2022 Open Enrollment Period (OEP) begins November 1, 2021, and ends December 15, 2021, in most states. Coverage begins January 1.

Beginning this year, consumers will have an extra 30 days to review and choose health plans through Open Enrollment, which will run from November 1, 2021 through January 15, 2022, on HealthCare.gov.

Open enrollment only happens once a year. Once it ends, you’re locked into your current programs until the next year. So it’s important to double-check the open enrollment dates with your employer or the program you want to join so you don’t miss your window of opportunity.

What happens if you miss open enrollment 2021? Absolutely nothing if you decide to go with Christian Health Care Ministries. They haveopen season all the time. However, if you miss your employer's open enrollment deadline, you could lose coverage for you and your loved ones, and you could be subject to a fine imposed by the Affordable Care Act.

CHM offers compassionate healthcare that’s kind to your budget. It also provides different options depending on where you’re at in life and what that means for your healthcare needs. Contact them atCHMinistries.orgor call 800-791-6225.

On today’s program we also answer a couple of your questions:

I have a relative who’s received quite a bit of money. He’d like to invest it in a safe but lucrative way.

Other than a Roth IRA, what other type of retirement method would you recommend?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And 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.

The average American has four credit cards. Some they may use rarely or not at all. Closing unused accounts is a good idea. However, you have to do it correctly. Canceling a credit card provides one less way for identity thieves to hack you; but it can also affect your credit score. Today on MoneyWise, we’ll tell you the right way to do it.

As Christians, we take Proverbs 3:27 seriously, Do not withhold good from those to whom it is due, when it is in your power to do it. Closing out an account with a zero balance means you’ve already paid back the money.

When your credit score drops, it seems like you’re being punished for doing a good thing. But it really just comes down to mathematics and some very complicated computer algorithms. And yes, closing a credit account can lower your score.

The longer you have an account open, the more credit you don’t use, and the more types of accounts you have, the higher your score. Those three factors make up 55% of your FICO score.

Having old accounts, unused credit, and more kinds of accounts tell lenders that you’re more likely to pay them back.

So why bother closing an account after you’ve paid it off, especially if it’s going to cost you points on your credit score? Two reasons: (1) it eliminates the temptation to use it if you run into an unexpected financial problem and (2) unused accounts with available credit make it easy for identity-theft thieves to cause you headache.

But be warned! Don’t close several credit card accounts all at once. Doing this will multiply the negative effect on your score. So, do it gradually, with no more than one or two every six months or so.

So yes, closing an account will affect your credit score. But don’t give it a second thought as long as you’re not in the market for a mortgage or car loan and you don’t close multiple accounts at one time.

On today’s program we also answer some of of your calls:

I’m a father and a husband but I don’t get paid very much. What’s an easy way to save from my limited income?

What is the Medicare shut-off? Is this the same as open enrollment or perhaps long-term care?

In light of the lock-downs during the pandemic, was it wrong to give my tithe to other people and organizations in the kingdom since I’ve not been able to attend my local church?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And 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

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

The average American has four credit cards. Some they may use rarely or not at all. Closing unused accounts is a good idea. However, you have to do it correctly. Canceling a credit card provides one less way for identity thieves to hack you; but it can also affect your credit score. Today on MoneyWise, we’ll tell you the right way to do it.

As Christians, we take Proverbs 3:27 seriously, Do not withhold good from those to whom it is due, when it is in your power to do it. Closing out an account with a zero balance means you’ve already paid back the money.

When your credit score drops, it seems like you’re being punished for doing a good thing. But it really just comes down to mathematics and some very complicated computer algorithms. And yes, closing a credit account can lower your score.

The longer you have an account open, the more credit you don’t use, and the more types of accounts you have, the higher your score. Those three factors make up 55% of your FICO score.

Having old accounts, unused credit, and more kinds of accounts tell lenders that you’re more likely to pay them back.

So why bother closing an account after you’ve paid it off, especially if it’s going to cost you points on your credit score? Two reasons: (1) it eliminates the temptation to use it if you run into an unexpected financial problem and (2) unused accounts with available credit make it easy for identity-theft thieves to cause you headache.

But be warned! Don’t close several credit card accounts all at once. Doing this will multiply the negative effect on your score. So, do it gradually, with no more than one or two every six months or so.

So yes, closing an account will affect your credit score. But don’t give it a second thought as long as you’re not in the market for a mortgage or car loan and you don’t close multiple accounts at one time.

On today’s program we also answer some of of your calls:

I’m a father and a husband but I don’t get paid very much. What’s an easy way to save from my limited income?

What is the Medicare shut-off? Is this the same as open enrollment or perhaps long-term care?

In light of the lock-downs during the pandemic, was it wrong to give my tithe to other people and organizations in the kingdom since I’ve not been able to attend my local church?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And 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.

Proverbs 21:5 reads, The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty. But how does that verse apply to retirement? Simply put, it means having a long-range plan that accounts for possible setbacks along the way. Today, Rob West talks about five roadblocks to retirement that could delay the day you quit working.

If you’re younger, it may seem too soon to be worrying about retirement, but in truth, you should start planning for retirement the day you start your first job. That’s how you can overcome the obstacles you’re likely to encounter.

The first one is not saving and investing enough to retire. Note that saving and investing are two different things. Saving, in this case, refers to establishing an emergency fund of 3-6 months of living expenses. This needs to be kept liquid and accessible, but not too accessible. Consider setting up a savings account at an online bank. Rob recommends Ally, Markus and Capital One banks but the choice is up to you. Consider automatic transfers from your checking account into that online account. Use that money for only true emergencies, like a job loss or unexpected medical bills. Just remember, any money you take out needs to be replaced in the account as soon as possible. Having an emergency fund protects you from having to interrupt, or worse, tap into your long-investments.

For investing, your goal should be to put away 10%-15% of your income each year toward retirement. Starting early takes advantage of compound earnings and long-term gains in the stock market. If your employer offers a 401k plan with matching contributions, take full advantage of that. Those matching contributions are free money. If your employer doesn’t offer a 401k, open a tax-advantaged IRA. On today’s program, Rob discusses the differences between traditional and Roth IRAs and the various investment options you have within each. He also discusses how to balance risk vs. return based on your target retirement date using the formula

110 - Your current age = % of Higher Risk Investments

If you’re 30 years old, the formula would be 110-30=80. Since you have a long time before retirement you can comfortably put 80% of your assets into stocks and stock mutual funds, which tend to have higher risk. You would then put the other 20% in lower risk, fixed-income securities like bonds and bond funds. Rob also mentions what are called Target Date Funds that let you choose a fund based on your anticipated retirement date. The fund’s manager rebalances your assets between low and higher risk securities for you over time.

The second obstacle coming between you and retirement is job loss. This is why having an emergency fund is critical. Too many people lose jobs and then tap into their retirement savings to get by. Not only does this reduce the amount of money you’ll have when you actually do retire, it also reduces the earning potential through compound interest. If you’re spending the money, it’s not working for you and earning you more money you’ll need later.

The third obstacle is the loss of your ability to work through illness or injury. The Social Security administration estimates that 25% of 20-year olds will become disabled before they retire. Usually, the work interruption is temporary and you can overcome it by having disability insurance, another must.

The fourth obstacle is debt. The only solution is to learn to live below your means so that you not only avoid debt, but also have income available for saving and investing. The interest you pay on credit card debt will far exceed any earnings in your retirement account, so you’re actually losing ground if you’re in debt.

The fifth and final obstacle to retirement is the premature death of a spouse which, if you’re both working, can reek havoc on your finances. The solution is having adequate life insurance. We recommend a death benefit of 12-15 times the salary that would be lost. Choose an inexpensive term policy. You also need life insurance for a stay-at-home spouse who is caring for children. Childcare is expensive so you’ll need insurance to make up for that annual expense in the same way you would to cover a lost salary.

Next, Rob answers listener questions including the following:

My 95-year-old mother has long-term care insurance and the premiums keep increasing. Is there a point to keeping this policy on someone who is in her mid 90’s?

I’m going to start receiving Social Security benefits in January. I currently have two loans, should I put the Social Security money towards those two loans or into a savings account?

I’m 62 years old and considering early retirement. How much can I earn without getting penalized once retired? Also, how does my last year’s salary affect all my previous years?

I currently have a home that has a remaining balance of $17,000 and an RV that I’m currently upside down on. Should I sell my home in order to pay off the RV?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them to [email protected]. Also, visit our website at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and follow us on Facebook at MoneyWise Media for the very latest discussion! And 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

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

Proverbs 21:5 reads, The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty. But how does that verse apply to retirement? Simply put, it means having a long-range plan that accounts for possible setbacks along the way. Today, Rob West talks about five roadblocks to retirement that could delay the day you quit working.

If you’re younger, it may seem too soon to be worrying about retirement, but in truth, you should start planning for retirement the day you start your first job. That’s how you can overcome the obstacles you’re likely to encounter.

The first one is not saving and investing enough to retire. Note that saving and investing are two different things. Saving, in this case, refers to establishing an emergency fund of 3-6 months of living expenses. This needs to be kept liquid and accessible, but not too accessible. Consider setting up a savings account at an online bank. Rob recommends Ally, Markus and Capital One banks but the choice is up to you. Consider automatic transfers from your checking account into that online account. Use that money for only true emergencies, like a job loss or unexpected medical bills. Just remember, any money you take out needs to be replaced in the account as soon as possible. Having an emergency fund protects you from having to interrupt, or worse, tap into your long-investments.

For investing, your goal should be to put away 10%-15% of your income each year toward retirement. Starting early takes advantage of compound earnings and long-term gains in the stock market. If your employer offers a 401k plan with matching contributions, take full advantage of that. Those matching contributions are free money. If your employer doesn’t offer a 401k, open a tax-advantaged IRA. On today’s program, Rob discusses the differences between traditional and Roth IRAs and the various investment options you have within each. He also discusses how to balance risk vs. return based on your target retirement date using the formula

110 - Your current age = % of Higher Risk Investments

If you’re 30 years old, the formula would be 110-30=80. Since you have a long time before retirement you can comfortably put 80% of your assets into stocks and stock mutual funds, which tend to have higher risk. You would then put the other 20% in lower risk, fixed-income securities like bonds and bond funds. Rob also mentions what are called Target Date Funds that let you choose a fund based on your anticipated retirement date. The fund’s manager rebalances your assets between low and higher risk securities for you over time.

The second obstacle coming between you and retirement is job loss. This is why having an emergency fund is critical. Too many people lose jobs and then tap into their retirement savings to get by. Not only does this reduce the amount of money you’ll have when you actually do retire, it also reduces the earning potential through compound interest. If you’re spending the money, it’s not working for you and earning you more money you’ll need later.

The third obstacle is the loss of your ability to work through illness or injury. The Social Security administration estimates that 25% of 20-year olds will become disabled before they retire. Usually, the work interruption is temporary and you can overcome it by having disability insurance, another must.

The fourth obstacle is debt. The only solution is to learn to live below your means so that you not only avoid debt, but also have income available for saving and investing. The interest you pay on credit card debt will far exceed any earnings in your retirement account, so you’re actually losing ground if you’re in debt.

The fifth and final obstacle to retirement is the premature death of a spouse which, if you’re both working, can reek havoc on your finances. The solution is having adequate life insurance. We recommend a death benefit of 12-15 times the salary that would be lost. Choose an inexpensive term policy. You also need life insurance for a stay-at-home spouse who is caring for children. Childcare is expensive so you’ll need insurance to make up for that annual expense in the same way you would to cover a lost salary.

Next, Rob answers listener questions including the following:

My 95-year-old mother has long-term care insurance and the premiums keep increasing. Is there a point to keeping this policy on someone who is in her mid 90’s?

I’m going to start receiving Social Security benefits in January. I currently have two loans, should I put the Social Security money towards those two loans or into a savings account?

I’m 62 years old and considering early retirement. How much can I earn without getting penalized once retired? Also, how does my last year’s salary affect all my previous years?

I currently have a home that has a remaining balance of $17,000 and an RV that I’m currently upside down on. Should I sell my home in order to pay off the RV?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them to [email protected]. Also, visit our website at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and follow us on Facebook at MoneyWise Media for the very latest discussion! And 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.

Almost all Americans fall into one of two groups. You’re either receiving Social Security Benefits or you will someday. So how do you make the most of it? You may be thinking that Social Security is something to think about later. But steps you make now can have a big impact on your future financial security.

Why bother? Social Security won’t be there for me anyway. Let’s put that myth to rest right away. Yes, the Social Security trust fund is projected to run out in 2034 or 35. But that doesn’t mean the program is going away. The worst case scenario is that benefits would have to be reduced.

Should I start receiving Social Security benefits at 62 or at full retirementage 66 or 67? We usually advise folks to wait if they can because it means their check will increase by 8% each year. However, certain individuals might do better by taking benefits early.

Don’t depend on Social Security as the only source of your retirement income. It was never intended to be more than about 40% of the average worker’s preretirement income.

Another reasonto delay benefits is if you’re still working. If you start benefits before full retirement age, your check will be reduced $1 for every $2 you earn above $18,960. You’ll be reimbursed the amount withheld after you reach full retirement age. After full retirement age, you can earn any amount without it affecting your benefits.

Coordinate with your spouse. Having a working spouse gives you more options. You can elect to have the one making less start receiving benefits earlier while the higher earner delays benefits. That gives you some income earlier; but you’re still increasing the other spouse’s future benefit checks.

Go toSSA.govto set up a My Social Security Account. There you’ll be able to see the record of your income and the payroll taxes you’ve paid. You then can estimate your future benefits.

On today’s program we also answer a few of your questions:

My son’s separated from his wife and they’re soon to be divorced. They are co-owners on a credit card that she is ringing up large debts on. She does this without telling my son. I’m afraid that when they actually do get divorced that he’s going to be saddled with this debt that he has nothing to do with.

We have a time share. Is it worth it? Is there an easy way to exit out of it?

I’ll be receiving $50,000. What’s a good way to invest that? I’ll be retiring at year’s end.

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And 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

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

Almost all Americans fall into one of two groups. You’re either receiving Social Security Benefits or you will someday. So how do you make the most of it? You may be thinking that Social Security is something to think about later. But steps you make now can have a big impact on your future financial security.

Why bother? Social Security won’t be there for me anyway. Let’s put that myth to rest right away. Yes, the Social Security trust fund is projected to run out in 2034 or 35. But that doesn’t mean the program is going away. The worst case scenario is that benefits would have to be reduced.

Should I start receiving Social Security benefits at 62 or at full retirementage 66 or 67? We usually advise folks to wait if they can because it means their check will increase by 8% each year. However, certain individuals might do better by taking benefits early.

Don’t depend on Social Security as the only source of your retirement income. It was never intended to be more than about 40% of the average worker’s preretirement income.

Another reasonto delay benefits is if you’re still working. If you start benefits before full retirement age, your check will be reduced $1 for every $2 you earn above $18,960. You’ll be reimbursed the amount withheld after you reach full retirement age. After full retirement age, you can earn any amount without it affecting your benefits.

Coordinate with your spouse. Having a working spouse gives you more options. You can elect to have the one making less start receiving benefits earlier while the higher earner delays benefits. That gives you some income earlier; but you’re still increasing the other spouse’s future benefit checks.

Go toSSA.govto set up a My Social Security Account. There you’ll be able to see the record of your income and the payroll taxes you’ve paid. You then can estimate your future benefits.

On today’s program we also answer a few of your questions:

My son’s separated from his wife and they’re soon to be divorced. They are co-owners on a credit card that she is ringing up large debts on. She does this without telling my son. I’m afraid that when they actually do get divorced that he’s going to be saddled with this debt that he has nothing to do with.

We have a time share. Is it worth it? Is there an easy way to exit out of it?

I’ll be receiving $50,000. What’s a good way to invest that? I’ll be retiring at year’s end.

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And 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.

If you’ve been struggling to qualify for federal student loan forgiveness, you’re certainly not alone, but relief could be just around the corner. The Department of Education says it’s launching a major overhaul of the Public Service Loan Forgiveness Program, which critics think is too complicated. The proposed changes would affect around a half million borrowers those working in jobs with the government or non-profit organizations. Today, Rob West explores some of the confusion and explains a few of the changes that may be coming.

The program forgives student loan debt for those who have worked in the public-sector and have faithfully made their loan payments for 10 years. Thousands of borrowers have complained that the application process is difficult to understand. This has led to costly and time-consuming errors, and applicants who have met all the necessary requirements have been told they are ineligible for loan forgiveness.

The Education Department has admitted that only about 5,000 people have had their student loan debt forgiven in the 15 years existence of the program. The Education Department says it will review all existing procedures to find ways to streamline the application process and improve communication for all parties.

Additional changes they want to make should give military service members and federal employees more access to the program and would allow members of the military to have their active duty time count towards the program, even if their student loans were in deferment or forbearance.

Two hundred organizations and teachers’ unions have pressured the White House to take steps to cancel debt for borrowers who have followed all of the requirements. The administration has extended deferment on federal student loan payments until January 31, 2022, due to COVID, and if you’re still working full-time for a qualified employer, you will continue to receive credit toward the 10 years of required payments even if you’re not making them.

If you have student debt but don’t want to work in the public sector, here are some things to keep in mind:

Save as much as you can for college and consider a tax-advantaged 529 plan.

Borrow as little as you can

If you do borrow for college, before signing for a student loan, make a firm commitment to yourself that you will graduate no matter what. A college degree can lead to better earning potential down the road, but if you borrow for college and don’t graduate, you’ll have all the debt with none of the benefit.

Rob says you should think of college as an investment. You want to find the sweet spot between following your dreams and choosing a major that gives you skills prospective employers want. And remember that the less your desired job pays, the less you can afford to borrow.

Fox Business News has an interesting article about the imbalance many graduates are facing between the amount of student debt they hold and the annual earning potential in their chosen fields. You’ll find it here:

https://www.foxbusiness.com/personal-finance/student-loan-debt-college-degree-study

Next, Rob answers listener questions including the following:

I started withdrawing funds from my 529 account, do I need to report that on my tax return?

My husband and I have approximately $30,000 across three different IRA’s, would it be beneficial to roll them all into a ROTH IRA?

Should I transfer money from my 401K to a Kingdom Advisor, even if it incurs fees?

Should I move my overseas investment accounts back to US markets?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them to [email protected]. Also, visit our website at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and even download helpful resources like the free MoneyWise app.

Like and follow us on Facebook at MoneyWise Media for the very latest discussion! And 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

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

If you’ve been struggling to qualify for federal student loan forgiveness, you’re certainly not alone, but relief could be just around the corner. The Department of Education says it’s launching a major overhaul of the Public Service Loan Forgiveness Program, which critics think is too complicated. The proposed changes would affect around a half million borrowers those working in jobs with the government or non-profit organizations. Today, Rob West explores some of the confusion and explains a few of the changes that may be coming.

The program forgives student loan debt for those who have worked in the public-sector and have faithfully made their loan payments for 10 years. Thousands of borrowers have complained that the application process is difficult to understand. This has led to costly and time-consuming errors, and applicants who have met all the necessary requirements have been told they are ineligible for loan forgiveness.

The Education Department has admitted that only about 5,000 people have had their student loan debt forgiven in the 15 years existence of the program. The Education Department says it will review all existing procedures to find ways to streamline the application process and improve communication for all parties.

Additional changes they want to make should give military service members and federal employees more access to the program and would allow members of the military to have their active duty time count towards the program, even if their student loans were in deferment or forbearance.

Two hundred organizations and teachers’ unions have pressured the White House to take steps to cancel debt for borrowers who have followed all of the requirements. The administration has extended deferment on federal student loan payments until January 31, 2022, due to COVID, and if you’re still working full-time for a qualified employer, you will continue to receive credit toward the 10 years of required payments even if you’re not making them.

If you have student debt but don’t want to work in the public sector, here are some things to keep in mind:

Save as much as you can for college and consider a tax-advantaged 529 plan.

Borrow as little as you can

If you do borrow for college, before signing for a student loan, make a firm commitment to yourself that you will graduate no matter what. A college degree can lead to better earning potential down the road, but if you borrow for college and don’t graduate, you’ll have all the debt with none of the benefit.

Rob says you should think of college as an investment. You want to find the sweet spot between following your dreams and choosing a major that gives you skills prospective employers want. And remember that the less your desired job pays, the less you can afford to borrow.

Fox Business News has an interesting article about the imbalance many graduates are facing between the amount of student debt they hold and the annual earning potential in their chosen fields. You’ll find it here:

https://www.foxbusiness.com/personal-finance/student-loan-debt-college-degree-study

Next, Rob answers listener questions including the following:

I started withdrawing funds from my 529 account, do I need to report that on my tax return?

My husband and I have approximately $30,000 across three different IRA’s, would it be beneficial to roll them all into a ROTH IRA?

Should I transfer money from my 401K to a Kingdom Advisor, even if it incurs fees?

Should I move my overseas investment accounts back to US markets?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them to [email protected]. Also, visit our website at MoneyWise.org where you can listen to past programs, connect with a MoneyWise Coach, and even download helpful resources like the free MoneyWise app.

Like and follow us on Facebook at MoneyWise Media for the very latest discussion! And 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.

Colossians 2:8 warns,See to it that no one takes you captive by philosophy and empty deceit, according to human tradition, according to the elemental spirits of the world, and not according to Christ. Our view of the world shapes our lives, especially how we manage money. We talk about that today with Paul David Tripp.

Money problems aren’t actually money problems, they’reheartproblems.

Money can define how you think about who you really are.

Where does your use of money expose your need for a heart change? Beware of taking your money life into your own hands. And how has your money life been shaped by the blessing of knowing that you’re one of God’s saints?

If the rules of a budget could solve your money problems then Jesus would never have had to come. His cross teaches us that something is broken, that understanding must come before solving any money problems.

Remember: it’s all aboutHisglory, not yours.

Don’t let money become an idolthis distorts that way we live. We are to live for God’s kingdom.

The purpose of your money is so that you can be part of God’s grand generosity agenda. Giving to others is more important than providing for our own needs.

Generosity is actually the good life. Keeping it all and spending it all on ourselves is not the thriving life,givingis.

On today’s program we also answer a couple of your questions:

I’m retiring soon and have $26,000 in a credit union. But I’m thinking there has to be a better place to earn more money. Are online banks better?

What is titlelockinsurance? Is this similar to title insurance?

Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them [email protected]. Also, visit our website atMoneyWise.orgwhere you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app.

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