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

Do you know your retirement plans are on track? Or do you justthink your retirement plans are on track? Or maybe you just hope they are. A brand new study has revealed that a surprising number of people aren’t saving enough for retirement probably due to misconceptions about what they need to reach their goals. We’ll talk about that first today then we’ll take your calls on any financial topic at 800-525-7000.

The first misconception involves the basic retirement nest egg. You should have in your portfolio 10 to 12 times your last year’s income by the time you retire.

The survey, by Fidelity showed that far too many people underestimate how much they’ll need in their retirement sayings. Only one out of four respondents knew the actual number and about half thought they’d only need five times their salary in savings.

The second misconception concerns how much towithdraw from those savings each year during retirement.

We always recommend 4-percent as a safe amount to withdraw each year. Some advisors will tell you as much as 6-percent. But more than a quarter of the respondents believed they could withdraw 10 to 15-percent of their savings each year two to three times the safe amount.

The next misconception involves the history of the stock market and assuming the market will be down more than it’s up.Few of us can expect to live 35 years after retiring, but over the last 35 years the market has ended up 26 years. But, 75-percent of respondents incorrectly believed the market had been down more years than up during that time. And because of that they may move too much of their portfolio out of stocks as they near retirement and during their retirement years.

The next misconception many folks have involves health care specifically, howexpensive it will be during retirement.The survey revealed that more than a third of respondents significantly underestimated their out-of-pocket health care expenses during retirement.

Our last misconception involves the full retirement age for Social Security. For most folks now that’s 66 or 67 depending on when you were born.But surprisingly, fewer than one out of five respondents knew their correct full retirement age for Social Security.You can start receiving benefits as early as age 62.You have to think carefully before electing to receive benefits and knowing your full retirement age is critical.

Here are a couple of questions we answered from our callers on today’s program:

I have a state retirement. I can’t do anything with it because of penalties. What can I do with this money?

We have a portfolio of 800K. We are retired with no debt. I sold all my stocks and had 600K cash earning nothing. What is the best thing to do with this money?

I sold my home (245K). I have the money in the bank. Should I try and buy something now, or wait for the bubble to burst?

Ask your questions at (800) 525-7000 or email them [email protected]. Visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources like the 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 the Donate tab at the top of the page.

Summer is just around the corner and that means folks are starting to plan for summer vacations. After a year cooped up with COVID restrictions, 2021 could see a surge in people hitting the road. Some areas are still in shutdown mode while others are opening up, hoping for a better season than last year. On this episode, we’ll present some tips for planning your warm weather getaway.

Know the effects of COVID-19 on trip planning. There’s no question that the availability of vaccines is increasing confidence in getting out of the house. But that doesn’t mean that masks are a thing of the past. They’re still required on planes, buses, trains, taxis and ride sharing services. Many states and establishments are expected to maintain mask requirements through the summer, as well.

Don’t expect everything on your journey will be open.If you’re traveling by car this summer, you can’t assume that everything will be open (or open as late) along the way to your destination. It’s highly advisable to plan your hotel, restaurant, and service station stops so you know where you can stay overnight, grab a meal and gas up when you need to.

Ask what steps the rental car company takes to clean the vehicle. Ideally, a company only offers cars that have been thoroughly wiped down with a disinfectant and sanitation procedure which includes door handles, steering wheel, shift lever and control panel. You should also bring your own disinfectant wipes and keep them handy.

Call ahead to make sure your preferred hotel is open. Also ask what steps they’re taking for COVID safety, such as reducing capacity, social distancing, and requiring staff and guests to wear masks. And if the hotel has a restaurant you might want to use, is it open? If not, ask about other restaurants within a convenient distance.

Air travelis still highly affected by COVID with many restrictions. You’ll want to ask your airline about in-flight amenities like food and beverage services (which could be limited or not available at all).

Maybe your vacation plans include a cruisean industry that’s been just devastated by COVID. While the Centers for Disease Control has lifted its ban on cruises, many cruise lines are voluntarily continuing their suspension of sailing operations in the months ahead. So, if you’re considering a cruise this summer, check with the cruise line or a travel agent about availability and restrictions.

You should know that the CDC is still urging us to delay traveling and warning that it will increase your chances of contracting and spreading COVID-19. Many state and local governments still have travel restrictions. These may include testing and quarantine requirements. Check with the appropriate health departments along your way. You have to be flexible and prepared for changes before and during your trip.

On this program we also answer your questions:

I had a 401(k) at a previous employer and I left it there when I quit the employer. I’ve since rolled it over into an annuity. What that a good move?

My 30-year-old daughter’s employer is beginning a new retirement program where they’re going to match at .25% up to 6%. In her situation, would you recommend a Roth or a traditional IRA for my daughter?

I have some critical medical issues that make my life expectancy hard to predict. I really want to leave money to my grandkids and to several charities and also want to do a few things for myself in the time I have left, so what’s the best way to set up my estate to handle this?

My husband and I are expecting an extra cash payment to come our way shortly.After tithe and taxes we should have about $10,000 remaining.Is it better to use all of that to pay down debts, or to save some or all of it in our emergency savings fund?

My wife is taking early retirement and we’d like to roll her retirement savings over to an IRA.In light of wanting to stay diversified, is it okay to use the same investment firm to manage her account as we use to manage mine?Or should we use two different investment managers?

Ask your questions at (800) 525-7000 or email them [email protected]. Remember that you can connect with a MoneyWise Coach, find books, articles and other helpful resources including the free MoneyWise app on our website MoneyWise.org.

Like and Follow us onFacebookat 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 in the app or on our website.

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

Summer is just around the corner and that means folks are starting to plan for summer vacations. After a year cooped up with COVID restrictions, 2021 could see a surge in people hitting the road. Some areas are still in shutdown mode while others are opening up, hoping for a better season than last year. On this episode, we’ll present some tips for planning your warm weather getaway.

Know the effects of COVID-19 on trip planning. There’s no question that the availability of vaccines is increasing confidence in getting out of the house. But that doesn’t mean that masks are a thing of the past. They’re still required on planes, buses, trains, taxis and ride sharing services. Many states and establishments are expected to maintain mask requirements through the summer, as well.

Don’t expect everything on your journey will be open.If you’re traveling by car this summer, you can’t assume that everything will be open (or open as late) along the way to your destination. It’s highly advisable to plan your hotel, restaurant, and service station stops so you know where you can stay overnight, grab a meal and gas up when you need to.

Ask what steps the rental car company takes to clean the vehicle. Ideally, a company only offers cars that have been thoroughly wiped down with a disinfectant and sanitation procedure which includes door handles, steering wheel, shift lever and control panel. You should also bring your own disinfectant wipes and keep them handy.

Call ahead to make sure your preferred hotel is open. Also ask what steps they’re taking for COVID safety, such as reducing capacity, social distancing, and requiring staff and guests to wear masks. And if the hotel has a restaurant you might want to use, is it open? If not, ask about other restaurants within a convenient distance.

Air travelis still highly affected by COVID with many restrictions. You’ll want to ask your airline about in-flight amenities like food and beverage services (which could be limited or not available at all).

Maybe your vacation plans include a cruisean industry that’s been just devastated by COVID. While the Centers for Disease Control has lifted its ban on cruises, many cruise lines are voluntarily continuing their suspension of sailing operations in the months ahead. So, if you’re considering a cruise this summer, check with the cruise line or a travel agent about availability and restrictions.

You should know that the CDC is still urging us to delay traveling and warning that it will increase your chances of contracting and spreading COVID-19. Many state and local governments still have travel restrictions. These may include testing and quarantine requirements. Check with the appropriate health departments along your way. You have to be flexible and prepared for changes before and during your trip.

On this program we also answer your questions:

I had a 401(k) at a previous employer and I left it there when I quit the employer. I’ve since rolled it over into an annuity. What that a good move?

My 30-year-old daughter’s employer is beginning a new retirement program where they’re going to match at .25% up to 6%. In her situation, would you recommend a Roth or a traditional IRA for my daughter?

I have some critical medical issues that make my life expectancy hard to predict. I really want to leave money to my grandkids and to several charities and also want to do a few things for myself in the time I have left, so what’s the best way to set up my estate to handle this?

My husband and I are expecting an extra cash payment to come our way shortly.After tithe and taxes we should have about $10,000 remaining.Is it better to use all of that to pay down debts, or to save some or all of it in our emergency savings fund?

My wife is taking early retirement and we’d like to roll her retirement savings over to an IRA.In light of wanting to stay diversified, is it okay to use the same investment firm to manage her account as we use to manage mine?Or should we use two different investment managers?

Ask your questions at (800) 525-7000 or email them [email protected]. Remember that you can connect with a MoneyWise Coach, find books, articles and other helpful resources including the free MoneyWise app on our website MoneyWise.org.

Like and Follow us onFacebookat 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 in the app or on our website.

To paraphrase Thomas Jefferson, The principle of spending money under the name of funding to be paid back later is really swindling the future on a large scale. We must not let our leaders load us with perpetual debt. The founders could never have envisioned today’s 28-trillion-dollar national debt. Today we’ll discuss this critical topic with economist Jerry Bowyer and how it affects your finances.

Jerry Bowyer is the chief economist at Vident Financial. He’s also the editor of TownHall Financial and occasionally writes for National Review.

Jerry, it’s your recent article in National Review that we want to talk about with the CBO saying that our new debt projections are already obsolete. What were those projections and why are they no longer valid?

Jerry’s answer:Earlier this month, the Congressional Budget Office released its Long-Term Budget Outlook. A couple of weeks later, the CBO director warned that the report didn’t take into account the recently signed American Rescue Plan Act which is projected to increase the federal deficit by $1.9 trillion from 2021 through 2031, mainly by increasing spending. So, how bad are things without counting the bad effects of a bill with a name that promises to rescue us? In the long-term, the CBO thinks that things are going to be pretty bad. Growth expectations are falling, mainly because of demographic trends. It puts potential growth over the next ten years at 1.8 percent per year, which is well below historic rates since 1950.

In the past, we’ve always been able to grow our way out of debt problems, effectively lowering the percentage of debt compared to the GDP or gross domestic product. Would that not be the case going forward?

Jerry’s answer: It doesn’t look that way. The projected GDP growth of just 1.8% is primarily due to a lower potentiallabor force.In other words, there are some limits to how much we can supply-side our way out of this, since supply-side economics is about changing individual incentives, which presupposes that there are enough people around to be incentivized into boosting supplies of goods and services. Of course, per capita GDP can grow, but to service our enormous debt obligations and entitlement programs, we need large aggregate increases in wealth creation.

You’ll sometimes hear analysts say that immigration is the key to growing our way out of this mess. Is that the case?

Jerry’s answer: The CBO shows that even to maintain its modest population-growth outlook, we will need a lot of immigrants.Butthis creates a serious dilemma: Our economy needs immigrants to grow, but high rates of immigration seem to fuel social tensions.

And what’s more troubling from a macroeconomic point of view is that the high levels of immigration appear to be shifting voting patterns toward the low-growth coalition. In other words, if we invite enough immigrants to grow the population enough to beat the new normal’ growth rates, do we risk simultaneously shifting the electoral balance toward the kind of policies that push us back down to low growth? The one cancels out the other.

As fertility rates remain below the replacement rate (the rate required for a generation to exactly replace itself), immigration plays an increasingly important role in population growth. In CBO’s projections, deaths exceed births by 2044, indicating that without immigration, the population would decline. Thereafter, population growth is driven entirely by immigration.

So, assuming that the CBO’s outlook is right about growth potential, what does our fiscal future look like?

Jerry’s answer:Growing deficits are projected to drive federal debt held by the public to unprecedented levels over the next 30 years. By 2051, debt is projected to reach more than 200 percent of gross domestic product, twice as high as during the Pandemic, World War II or the Great Depression. Most of the scariest stuff is projected over those 30 yearsmeaning, it’s something that might happen but a lot of the frightening stuff has already happened between 2008 to now.

Of course, the government’s ability to service that enormous debt is greatly affected by interest rates. What’s the Federal Reserve’s role in this gloomy scenario?

Jerry’s answer:All of this also assumes no big spike in interest rates. This is based on Goldilocks-like interest-rate assumptions, which means that it has embedded into it continued debt monetization. If the Fed doesn’t play ball, the interest portion of debt services will kick in a lot faster. The Fed has already signaled that it will act to rescue America from the American Rescue Plan Act both by keeping its target rate low and by indicating in its most recent meeting that it intends to continue to do so.

Given the rising importance of interest on the national debt, it’s unlikely that they will fail to rescue us (and our good faith and credit) from future fiscal-rescue attempts. And the only way they can rescue interest rates is by sacrificing the dollar.

Read Jerry Bowyer’s article, CBO: Our New Debt Projections Are Already Obsolete.

On today’s program we also answer your questions:

I’m selling my house and will be making a profit. I was told that if you’re getting married that there’s an exemption for having to pay capital gains. Is this true? But I’m not getting married in the same fiscal year that I’ll be selling the house.

My credit score just fell 100 points! I’m confused about how my score works as it relates to a card’s inactivity while maintaining balances on others even after having paid one off.

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, purchase books, and even download free, helpful resources like 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 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

To paraphrase Thomas Jefferson, The principle of spending money under the name of funding to be paid back later is really swindling the future on a large scale. We must not let our leaders load us with perpetual debt. The founders could never have envisioned today’s 28-trillion-dollar national debt. Today we’ll discuss this critical topic with economist Jerry Bowyer and how it affects your finances.

Jerry Bowyer is the chief economist at Vident Financial. He’s also the editor of TownHall Financial and occasionally writes for National Review.

Jerry, it’s your recent article in National Review that we want to talk about with the CBO saying that our new debt projections are already obsolete. What were those projections and why are they no longer valid?

Jerry’s answer:Earlier this month, the Congressional Budget Office released its Long-Term Budget Outlook. A couple of weeks later, the CBO director warned that the report didn’t take into account the recently signed American Rescue Plan Act which is projected to increase the federal deficit by $1.9 trillion from 2021 through 2031, mainly by increasing spending. So, how bad are things without counting the bad effects of a bill with a name that promises to rescue us? In the long-term, the CBO thinks that things are going to be pretty bad. Growth expectations are falling, mainly because of demographic trends. It puts potential growth over the next ten years at 1.8 percent per year, which is well below historic rates since 1950.

In the past, we’ve always been able to grow our way out of debt problems, effectively lowering the percentage of debt compared to the GDP or gross domestic product. Would that not be the case going forward?

Jerry’s answer: It doesn’t look that way. The projected GDP growth of just 1.8% is primarily due to a lower potentiallabor force.In other words, there are some limits to how much we can supply-side our way out of this, since supply-side economics is about changing individual incentives, which presupposes that there are enough people around to be incentivized into boosting supplies of goods and services. Of course, per capita GDP can grow, but to service our enormous debt obligations and entitlement programs, we need large aggregate increases in wealth creation.

You’ll sometimes hear analysts say that immigration is the key to growing our way out of this mess. Is that the case?

Jerry’s answer: The CBO shows that even to maintain its modest population-growth outlook, we will need a lot of immigrants.Butthis creates a serious dilemma: Our economy needs immigrants to grow, but high rates of immigration seem to fuel social tensions.

And what’s more troubling from a macroeconomic point of view is that the high levels of immigration appear to be shifting voting patterns toward the low-growth coalition. In other words, if we invite enough immigrants to grow the population enough to beat the new normal’ growth rates, do we risk simultaneously shifting the electoral balance toward the kind of policies that push us back down to low growth? The one cancels out the other.

As fertility rates remain below the replacement rate (the rate required for a generation to exactly replace itself), immigration plays an increasingly important role in population growth. In CBO’s projections, deaths exceed births by 2044, indicating that without immigration, the population would decline. Thereafter, population growth is driven entirely by immigration.

So, assuming that the CBO’s outlook is right about growth potential, what does our fiscal future look like?

Jerry’s answer:Growing deficits are projected to drive federal debt held by the public to unprecedented levels over the next 30 years. By 2051, debt is projected to reach more than 200 percent of gross domestic product, twice as high as during the Pandemic, World War II or the Great Depression. Most of the scariest stuff is projected over those 30 yearsmeaning, it’s something that might happen but a lot of the frightening stuff has already happened between 2008 to now.

Of course, the government’s ability to service that enormous debt is greatly affected by interest rates. What’s the Federal Reserve’s role in this gloomy scenario?

Jerry’s answer:All of this also assumes no big spike in interest rates. This is based on Goldilocks-like interest-rate assumptions, which means that it has embedded into it continued debt monetization. If the Fed doesn’t play ball, the interest portion of debt services will kick in a lot faster. The Fed has already signaled that it will act to rescue America from the American Rescue Plan Act both by keeping its target rate low and by indicating in its most recent meeting that it intends to continue to do so.

Given the rising importance of interest on the national debt, it’s unlikely that they will fail to rescue us (and our good faith and credit) from future fiscal-rescue attempts. And the only way they can rescue interest rates is by sacrificing the dollar.

Read Jerry Bowyer’s article, CBO: Our New Debt Projections Are Already Obsolete.

On today’s program we also answer your questions:

I’m selling my house and will be making a profit. I was told that if you’re getting married that there’s an exemption for having to pay capital gains. Is this true? But I’m not getting married in the same fiscal year that I’ll be selling the house.

My credit score just fell 100 points! I’m confused about how my score works as it relates to a card’s inactivity while maintaining balances on others even after having paid one off.

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, purchase books, and even download free, helpful resources like 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 the Donate tab on our website or in our app.

What sort of legacy will you leave for your family? God tells us what He expects in Proverbs 20:7, The righteous who walks in his integrityblessed are his children after him!The legacy you leave behind entails more than a will and the financial inheritance you leave to your heirs. Today, David Wills from theNational Christian Foundationjoins us to talk about why we all need an estate plan

David Wills is the President Emeritus of the National Christian Foundation and he’s been walking alongside families on their giving journeys for many years. So, he’s the perfect guy to unpack why we all need an estate plan and what it means to leave a lasting legacy.

An estate plan is actually aprocessto help us think though how we’re going to pass on what God has entrusted to us when we’re gone.

Legacy involves more than just the financial.Everyone wants to be remembered for having lived a generous life. I like to ask, Who, what, and when? Who’s going to benefit, what will they receive, and when will they receive it?

The process that comes with estate planning actually is just as important during life as it is when we pass away. Ecclesiastes 7:11-12 says, Wisdom, like an inheritance, is a good thing. Wisdom, more than anything, preserves the life of its possessor. So, let’s pass on wisdom before we pass on wealth.

We pass along 3 kinds of capital: spiritual, character, and financial. But we really ought to think about the first two, first.

An estate plan is actually astoryyou’re telling to those who are coming behind you. It’s an opportunity to talk about your good work ethic, etc. When people look at your family, what is the character they’ll see? Let others see how generous and giving you were.

On today’s program we also answer your questions:

What can you tell me about investing risk? How far should I go in terms of risk when investing God’s money into things?

What do you think about buying long-term care insurance for end-of-life care?

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, purchase books, and even download free, helpful resources like 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 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

What sort of legacy will you leave for your family? God tells us what He expects in Proverbs 20:7, The righteous who walks in his integrityblessed are his children after him!The legacy you leave behind entails more than a will and the financial inheritance you leave to your heirs. Today, David Wills from theNational Christian Foundationjoins us to talk about why we all need an estate plan

David Wills is the President Emeritus of the National Christian Foundation and he’s been walking alongside families on their giving journeys for many years. So, he’s the perfect guy to unpack why we all need an estate plan and what it means to leave a lasting legacy.

An estate plan is actually aprocessto help us think though how we’re going to pass on what God has entrusted to us when we’re gone.

Legacy involves more than just the financial.Everyone wants to be remembered for having lived a generous life. I like to ask, Who, what, and when? Who’s going to benefit, what will they receive, and when will they receive it?

The process that comes with estate planning actually is just as important during life as it is when we pass away. Ecclesiastes 7:11-12 says, Wisdom, like an inheritance, is a good thing. Wisdom, more than anything, preserves the life of its possessor. So, let’s pass on wisdom before we pass on wealth.

We pass along 3 kinds of capital: spiritual, character, and financial. But we really ought to think about the first two, first.

An estate plan is actually astoryyou’re telling to those who are coming behind you. It’s an opportunity to talk about your good work ethic, etc. When people look at your family, what is the character they’ll see? Let others see how generous and giving you were.

On today’s program we also answer your questions:

What can you tell me about investing risk? How far should I go in terms of risk when investing God’s money into things?

What do you think about buying long-term care insurance for end-of-life care?

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, purchase books, and even download free, helpful resources like 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 the Donate tab on our website or in our app.

Investing icon John Templeton once wrote that it’s dangerous to think this time is different. But it’s also true that no one alive has ever before gone through the past year’s market conditions.Dramatic market fluctuations and unprecedented government intervention has left many investors wondering Where are we now? Today I welcome investing expert Mark Biller to help answer that then it’s your calls at 800-525-7000.

It's been over a year since the COVID shutdowns began and already six months since the positive vaccine announcements re-ignited the U.S. stock market. We’re three months into those vaccines starting to be administered (in size) here in the U.S.A lot of people have strong feelings about each of those subjects!

Markwrote an article earlier this month that simply looks objectively at a handful of important data points that paint a pretty convincing picture of where the U.S. economic recovery stands. And then from there, he translated that to the more difficult challenge of relating what that means for our investments in the months ahead.

So our big-picture frameworksince the vaccine news came out last November has been that, starting in the 2nd quarter of this year, we were likely to see really strong economic and market data. That was based largely on the fact that we would hit really easy year-over-year comparisons from last year, plus we’d finally see a broad economic re-opening and we’d have all the recent massive government/central bank support.

As the March data started rolling in earlier in April, that shifted from afuture possibility to a present reality. The numbers have started to rip higher and we haven’t even gotten to the heart of the second quarter yet.

March nonfarm employment showed an increase of +916k jobs, up from February's already significant +379k. Expectations were +660k. The jobs recovery is in full swing (although there's still a long way to go)

The March growth number for US goods manufacturing was the highest in roughly 40 years.

On the services side of the economy March growth was also surprisingly strong. This was really interesting because everyone expected it would take longer for these services growth numbers to pick up again, but these numbers indicated services growth was already picking up fast. Again, this was "highest in 25 years" type stuff.

Finally, US Consumer Confidence was up big in March vs February. That shows the re-opening optimism out there among normal folks.

Those four numbers hit the most important points: employment, goods, services, and consumer confidence. All flying higher and beating expectations.

The economy does not equal the stock market. It's natural to think that a booming economy is going to be great for stocks, but it's important to recognize that stocks have been pricing in this economic re-opening for many months already.

Eventually the market is going to look past the easy comparisons of a year ago and the numbers are going to start looking weaker relative to the booming numbers we’re seeing now. And when the economy is largely re-opened, while that’s great, ironically the market loses the obvious optimistic future story that has propelled it over the past year.

The huge wild card in all of this is the massive support provided by the government and the Fed. With the money supply growing so fast, it’s reasonable to wonder if a big part of the reason all kinds of asset prices are rising is that they’re just being repriced higher to adjust for less valuable dollars.

Mark Biller, executive editor at Sound Mind Investing, has been our guest today. You can read his article, Economic Update: Booming at SoundMindInvesting.org.

Here are a couple of questions we answered from our callers on today’s program:

My wife and I have income from IRAs and Social Security. We also have rental properties. What is the best way to set up our will for the money to go exactly where we want it to go.

I would like to save for college for my children. What is the best way to do this?

Ask your questions at (800) 525-7000 or email them [email protected]. Visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources like the 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 the Donate tab at the top of the page.

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

Investing icon John Templeton once wrote that it’s dangerous to think this time is different. But it’s also true that no one alive has ever before gone through the past year’s market conditions.Dramatic market fluctuations and unprecedented government intervention has left many investors wondering Where are we now? Today I welcome investing expert Mark Biller to help answer that then it’s your calls at 800-525-7000.

It's been over a year since the COVID shutdowns began and already six months since the positive vaccine announcements re-ignited the U.S. stock market. We’re three months into those vaccines starting to be administered (in size) here in the U.S.A lot of people have strong feelings about each of those subjects!

Markwrote an article earlier this month that simply looks objectively at a handful of important data points that paint a pretty convincing picture of where the U.S. economic recovery stands. And then from there, he translated that to the more difficult challenge of relating what that means for our investments in the months ahead.

So our big-picture frameworksince the vaccine news came out last November has been that, starting in the 2nd quarter of this year, we were likely to see really strong economic and market data. That was based largely on the fact that we would hit really easy year-over-year comparisons from last year, plus we’d finally see a broad economic re-opening and we’d have all the recent massive government/central bank support.

As the March data started rolling in earlier in April, that shifted from afuture possibility to a present reality. The numbers have started to rip higher and we haven’t even gotten to the heart of the second quarter yet.

March nonfarm employment showed an increase of +916k jobs, up from February's already significant +379k. Expectations were +660k. The jobs recovery is in full swing (although there's still a long way to go)

The March growth number for US goods manufacturing was the highest in roughly 40 years.

On the services side of the economy March growth was also surprisingly strong. This was really interesting because everyone expected it would take longer for these services growth numbers to pick up again, but these numbers indicated services growth was already picking up fast. Again, this was "highest in 25 years" type stuff.

Finally, US Consumer Confidence was up big in March vs February. That shows the re-opening optimism out there among normal folks.

Those four numbers hit the most important points: employment, goods, services, and consumer confidence. All flying higher and beating expectations.

The economy does not equal the stock market. It's natural to think that a booming economy is going to be great for stocks, but it's important to recognize that stocks have been pricing in this economic re-opening for many months already.

Eventually the market is going to look past the easy comparisons of a year ago and the numbers are going to start looking weaker relative to the booming numbers we’re seeing now. And when the economy is largely re-opened, while that’s great, ironically the market loses the obvious optimistic future story that has propelled it over the past year.

The huge wild card in all of this is the massive support provided by the government and the Fed. With the money supply growing so fast, it’s reasonable to wonder if a big part of the reason all kinds of asset prices are rising is that they’re just being repriced higher to adjust for less valuable dollars.

Mark Biller, executive editor at Sound Mind Investing, has been our guest today. You can read his article, Economic Update: Booming at SoundMindInvesting.org.

Here are a couple of questions we answered from our callers on today’s program:

My wife and I have income from IRAs and Social Security. We also have rental properties. What is the best way to set up our will for the money to go exactly where we want it to go.

I would like to save for college for my children. What is the best way to do this?

Ask your questions at (800) 525-7000 or email them [email protected]. Visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources like the 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 the Donate tab at the top of the page.

You picked out the make and model and you’ve been saving your money, waiting to buy a new car. You may have even found thecar you want. The question is, what to do with your old one? If your current vehicle still has value, you can trade it in if you’re buying from a dealer or you can sell it yourself. If that thought fills you with fear and loathing, don’t worry. Rob West will tell you how to do it.

There’s no question that a lot of people simply don’t want the hassle of selling their old vehicle privately. But the truth is, in most cases, you'll end up with more money by doing it yourself.That’s because the dealership has overhead. They have to clean and prep the vehicle and then price it to make a profit. But that’s moneyyoucould make by selling it yourself.

First, gather up your papers, and that starts with the vehicle title. You won’t have one if there’s a lien on the car and you still owe money. In that case, it’s best to wait until you have it paid off before selling the vehicle.

The next thing is to go online to your Department of Motor Vehicles to see what forms are needed to transfer ownership (like a downloadable bill of sale). Also, check to see if the license plates stay with the car after it’s sold. Then, order a vehicle history report from Carfax or AutoCheck. Buyers will want to check it.

With all of your paperwork gathered, set your asking price. Go online to Edmunds or Kelley Blue Book. Plug in your make, model, mileage, features and condition to get an estimated value. Set your price a bit higher to give room to negotiate.

Now that you have your asking price, it’s time to roll up your sleeves and give your car a thorough cleaning. Outside, you’ll want curb appeal, so wash and wax. Inside, remove all the stuff that’s accumulated in the glove box, under the seats and in the trunk. Pull out the floor mats and scrub them clean. Finally, vacuum the carpet.

The next step: advertise. Take lots of photos inside and out and choose the best six or so. Include the best features like low treadwear on the tires. Now you’re ready to start posting ads. You can do that on Craigslist, Auto Trader, or Ebay Motors. Craigslist is free. Autotrader’s ad rates start at $25 but it’s worth it because the site is used by serious buyers. At Ebay Motors, you can either auction the car or buy an ad.

Watch out for buyers who lowball you or negotiate before seeing the vehicle. They could be flippers who buy low and then put the vehicle back on the market at a higher price. Do let the buyer drive the car, but go along for the ride. Resist negotiating at that point. Instead, just answer any questions the buyer may have. If they want to have a mechanic inspect the car, agree, but insist that they pay for it. If the inspection reveals items that need immediate attention, you may have to lower your price to compensate, but don’t address every item on a long list of potential problems. It is, after all, a used car.

Now it’s time to close the deal. Don’t make the first offer. If asked for your best price, say that your asking price is fair, but that you’ll consider an offer. If you agree to a price, tell the buyer you’ll accept only cash or a cashier’s check.

Then, with the money in hand, you sign and date the title, then give the buyer a completed bill of sale. That’s it!

Order a vehicle history report fromCarfaxorAutocheck. Check your car’s value atEdmundsorKelley Blue Book. Donate your vehicle to theSalvation Army.

On today’s program we also answer your questions:

What’s your opinion of title lock insurance?

My husband is considering either a business partnership or doing self-employment. What would be better to do?

I feel like God is distant in my life right now and don’t have any clear direction on what He wants me to do. So, whatdoyou do when you feel as though God is far away, and how do you press on when you feel like nothing’s taking place?

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, purchase books, and even download free, helpful resources like 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 the Donate tab on our website or in our app.

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