Do you like to haggle? Successful negotiating has been described as the art of letting someone else have your way; it’s one area of life where a little knowledge goes a long way. Sometimes you can have it your way simply by askinglike with credit cards, for example. Today on MoneyWise, Kingdom Advisors President Rob West has a few tips for us.

Haggling is not part of our culture like it is in many other countries. We tend to accept what’s offered without asking for a better deal. However, when it comes to credit cards, it would be a good idea to get over that reluctance. The Federal Reserve says that Americans owe more than $1 trillionin credit card debt, with an average household balance of over $8,000. The best solution is to pay down that credit card. But while you’re doing that, there are ways to make it easier.

We’re not talking about negotiating to have the balance loweredthat’s called a settlement. And while some people find themselves in a financial predicament where they have to negotiate a settlement, we always want to avoid that and pay our debts in full. Proverbs 37:21 reads,The wicked borrows but does not pay back.

When negotiating with credit card companies,there’s not really a lot of negotiating required. For the most part, it’s just asking for something and waiting for a yes or noa simple process.Look at interest rates and fees. The plastic in your wallet is a great convenience, but it’s not cheap, even if you pay your full balance every month.

Make a phone call to your credit card issuer. The number’s right on the back of the card.CreditCards.com asked 1,600 cardholders about their experience when calling their issuer simply asking for a better deal. They focused on three areas: (1) reversing a late fee, (2) waiving or reducing an annual fee, and (2) lowering the interest rate. Eight-five percent of cardholders who made at least one request got what they wanted.

Unfortunately, only 18% of those polled had ever asked to have their annual fee reduced or eliminated. Even more disturbing is that they were much more likely to ask for a credit limit increase!

Why are credit card companies so willing to give in? Two words: balance transfer. They know all too well that most of their cardholders simply can take their business elsewhere by transferring their balance to another issuer’s card, so, they don’t want to lose you even if you pay off your balance every month. They’ll still make a lot of money in vendor fees when you use their card. So they have a vested interest in keeping you happy.

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

How do I actually cancel a credit card? Is there an easier way than writing letters?

Are there any work-at-home jobs that are legitimate?

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 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 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

Do you like to haggle? Successful negotiating has been described as the art of letting someone else have your way; its one area of life where a little knowledge goes a long way. Sometimes you can have it your way simply by askinglike with credit cards, for example. Today on MoneyWise, Kingdom Advisors President Rob West has a few tips for us.

Haggling is not part of our culture like it is in many other countries. We tend to accept whats offered without asking for a better deal. However, when it comes to credit cards, it would be a good idea to get over that reluctance. The Federal Reserve says that Americans owe more than $1 trillionin credit card debt, with an average household balance of over $8,000. The best solution is to pay down that credit card. But while youre doing that, there are ways to make it easier.

Were not talking about negotiating to have the balance loweredthats called a settlement. And while some people find themselves in a financial predicament where they have to negotiate a settlement, we always want to avoid that and pay our debts in full. Proverbs 37:21 reads,The wicked borrows but does not pay back.

When negotiating with credit card companies,theres not really a lot of negotiating required. For the most part, its just asking for something and waiting for a yes or noa simple process.Look at interest rates and fees. The plastic in your wallet is a great convenience, but its not cheap, even if you pay your full balance every month.

Make a phone call to your credit card issuer. The numbers right on the back of the card.CreditCards.com asked 1,600 cardholders about their experience when calling their issuer simply asking for a better deal. They focused on three areas: (1) reversing a late fee, (2) waiving or reducing an annual fee, and (2) lowering the interest rate. Eight-five percent of cardholders who made at least one request got what they wanted.

Unfortunately, only 18% of those polled had ever asked to have their annual fee reduced or eliminated. Even more disturbing is that they were much more likely to ask for a credit limit increase!

Why are credit card companies so willing to give in? Two words: balance transfer. They know all too well that most of their cardholders simply can take their business elsewhere by transferring their balance to another issuers card, so, they dont want to lose you even if you pay off your balance every month. Theyll still make a lot of money in vendor fees when you use their card. So they have a vested interest in keeping you happy.

Here are just a couple of questions we answered from our callers on todays program:

How do I actually cancel a credit card? Is there an easier way than writing letters?

Are there any work-at-home jobs that are legitimate?

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 and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that its 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 may have heard a friend or family member say that they’ve made upwards of 10% on their money through an innovative new investing idea, P2P lending. But did they tell you about the risks? Many people fed up with low interest rates at banks are turning to P2P lending which can easily beat a traditional savings account, but not without risk. Financial planner and teacher Rob West weighs the pros and cons.

P2P stands for people to people. This is where investors make unsecured personal loans to individuals and businesses. It’s not unusual to get average annual returns of 7 to 11%. But make no mistake: if you take money out of your savings account and invest P2P, you’re no longer a saver but an investor, and all investments carry risk.

Here’s how P2P lending works. You want to borrow money. You go to a P2P website and fill out an application. The site then gives prospective lenders that basic information, plus the loan amount and purpose and an assessment of the borrower’s credit worthiness. But let’s say you're the lender. You go to the site looking to invest. You look through the information provided by borrowers and choose the loan or loans you want to invest in that could be all of a loan or just a part of it. Borrowers are usually limited to around $35,000 for what becomes an unsecured personal loan. Terms usually run from 3 to 5 years.

Credit worthiness. This is based on several factors: (1) the borrower’s credit score, (2) income to debt ratio, (3) the amount and purpose of the loan, and (4) the term. All of these values are then converted into a single number (usually from 1 to 10 or so) and this indicates the risk to the investor. It’s also used to determine the interest ratethe riskier the loan, the higher the interest rate and the higher the potential return.

P2P sites have many of the same credit requirements as banks. For example, they won’t accept borrowers with a credit score below 600. The average is around 650. Also, these sites won’t accept applications from borrowers with a recent bankruptcy, judgment or tax lien.

There’s the option to invest in just a piece of a loan. You’re actually buying notes or shares of a loan and you can do it in denominations as low as $25. So you can dip your toe in the water without having to put a lot of money on the table. And one more advantage. The P2P site handles the entire administrative end of the loan like underwriting, closing, distributing the proceeds and collectionall that for about a 1% management fee.

P2P sites can be searched for online. But the the two biggest ones are Prosper Marketplace and Lending Club. Between them, they’ve issued more than $22 billionin loans.

Finally, there are risks.These loans are unsecuredthere’s no collateral behind them that you could go after in a lawsuit. It’s entirely possible for a borrower to default on a P2P loan, meaning, you could lose all of your investment. Of course, that’s why the potential returns are so much higher than with a savings account at a bank. Also, P2P loans are not insured. If a bank goes under, your savings are insured up to $250,000 by the Federal Deposit Insurance Corporation. Not so with a P2P loan. You could lose everything.

Here are some questions we answered from our callers on today’s program:

I need encouragement to learn to trust the Lord in all things, particularly my future and finances. What hope do I have?

Can I contribute to a Roth 401(k) and a Roth IRA within the same year?

Should I take out a home equity loan to have a line of creditto have some liquid income (basically, I’ll be funding income through debt)?

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 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 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

You may have heard a friend or family member say that theyve made upwards of 10% on their money through an innovative new investing idea, P2P lending. But did they tell you about the risks? Many people fed up with low interest rates at banks are turning to P2P lending which can easily beat a traditional savings account, but not without risk. Financial planner and teacher Rob West weighs the pros and cons.

P2P stands for people to people. This is where investors make unsecured personal loans to individuals and businesses. Its not unusual to get average annual returns of 7 to 11%. But make no mistake: if you take money out of your savings account and invest P2P, youre no longer a saver but an investor, and all investments carry risk.

Heres how P2P lending works. You want to borrow money. You go to a P2P website and fill out an application. The site then gives prospective lenders that basic information, plus the loan amount and purpose and an assessment of the borrowers credit worthiness. But lets say you're the lender. You go to the site looking to invest. You look through the information provided by borrowers and choose the loan or loans you want to invest in that could be all of a loan or just a part of it. Borrowers are usually limited to around $35,000 for what becomes an unsecured personal loan. Terms usually run from 3 to 5 years.

Credit worthiness. This is based on several factors: (1) the borrowers credit score, (2) income to debt ratio, (3) the amount and purpose of the loan, and (4) the term. All of these values are then converted into a single number (usually from 1 to 10 or so) and this indicates the risk to the investor. Its also used to determine the interest ratethe riskier the loan, the higher the interest rate and the higher the potential return.

P2P sites have many of the same credit requirements as banks. For example, they wont accept borrowers with a credit score below 600. The average is around 650. Also, these sites wont accept applications from borrowers with a recent bankruptcy, judgment or tax lien.

Theres the option to invest in just a piece of a loan. Youre actually buying notes or shares of a loan and you can do it in denominations as low as $25. So you can dip your toe in the water without having to put a lot of money on the table. And one more advantage. The P2P site handles the entire administrative end of the loan like underwriting, closing, distributing the proceeds and collectionall that for about a 1% management fee.

P2P sites can be searched for online. But the the two biggest ones are Prosper Marketplace and Lending Club. Between them, theyve issued more than $22 billionin loans.

Finally, there are risks.These loans are unsecuredtheres no collateral behind them that you could go after in a lawsuit. Its entirely possible for a borrower to default on a P2P loan, meaning, you could lose all of your investment. Of course, thats why the potential returns are so much higher than with a savings account at a bank. Also, P2P loans are not insured. If a bank goes under, your savings are insured up to $250,000 by the Federal Deposit Insurance Corporation. Not so with a P2P loan. You could lose everything.

Here are some questions we answered from our callers on todays program:

I need encouragement to learn to trust the Lord in all things, particularly my future and finances. What hope do I have?

Can I contribute to a Roth 401(k) and a Roth IRA within the same year?

Should I take out a home equity loan to have a line of creditto have some liquid income (basically, Ill be funding income through debt)?

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 and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that its 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.

2 Corinthians 9:6 poses both a warning and a challenge to Christians: Whoever sows sparingly will also reap sparingly and whoever sows bountifully will also reap bountifully. No one reaching the end of life says, I wish I’d given less. We all want to be generous toward God’s Kingdom as he calls us to be. Today, host Rob West sits down with Matt Hames of the National Christian Foundation to find out why that’s easier to do this year.

The COVID crisis is a time for believers toacceleratetheir giving.

The CARES Act has afforded us a unique opportunity. Givers that take the standard deduction on their personal tax return are entitled to deduct up to $300 from their income for cash gifts made in 2020 to churches and public charities, and that’s in addition to your standard deductions.

Currently, there’s an odd opportunity to give appreciated securities from your stock portfolio if that’s something that you may be able to do.

In a normal context and year, you could deduct up to 60% of their adjusted gross income from cash gifts you make to a charity. But this year, because of the CARES Act, they’re allowing an additional 40%.

When the value is down on your business, though, that’s a good time to make gifts to your heirs, for example, because your can move more money out of your estate more quickly.

Learn more atncfgiving.com.

Here are some questions we answered from our callers on today’s program:

My husband and I are in our retirement years and we want to invest in CDs. What more can you tell us about these? And is there a way to find out which CD has the highest rate of return?Bankrate.comwas recommended for further information on this caller’s question.

My husband has $122,000 in profit-sharing from a company that he used to work for. Should he be encouraged to roll it over into an IRA since he no longer works for that company?

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 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

2 Corinthians 9:6 poses both a warning and a challenge to Christians: Whoever sows sparingly will also reap sparingly and whoever sows bountifully will also reap bountifully. No one reaching the end of life says, I wish Id given less. We all want to be generous toward Gods Kingdom as he calls us to be. Today, host Rob West sits down with Matt Hames of the National Christian Foundation to find out why thats easier to do this year.

The COVID crisis is a time for believers toacceleratetheir giving.

The CARES Act has afforded us a unique opportunity. Givers that take the standard deduction on their personal tax return are entitled to deduct up to $300 from their income for cash gifts made in 2020 to churches and public charities, and thats in addition to your standard deductions.

Currently, theres an odd opportunity to give appreciated securities from your stock portfolio if thats something that you may be able to do.

In a normal context and year, you could deduct up to 60% of their adjusted gross income from cash gifts you make to a charity. But this year, because of the CARES Act, theyre allowing an additional 40%.

When the value is down on your business, though, thats a good time to make gifts to your heirs, for example, because your can move more money out of your estate more quickly.

Learn more atncfgiving.com.

Here are some questions we answered from our callers on todays program:

My husband and I are in our retirement years and we want to invest in CDs. What more can you tell us about these? And is there a way to find out which CD has the highest rate of return?Bankrate.comwas recommended for further information on this callers question.

My husband has $122,000 in profit-sharing from a company that he used to work for. Should he be encouraged to roll it over into an IRA since he no longer works for that company?

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 and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that its 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.

Here’s a visual concept for you, think of your money as a pie. It doesn’t matter how big the pie is. If the slice you carve out for lifestyle gets too big all the other slices have to shrink.

It’s safe to say that most Americans live on more than they need to. Our culture is built on the idea that more is always better. The Bible takes a different view. Today, host Rob West welcomes financial expert Ron Blue to talk about our spending choices. Ron Blue has written many books on personal finance from a biblical perspective, but today we’re taking a deep dive into one chapter in his book,Never Enough: 3 Keys to Financial Contentment.Then it's your calls at 800-525-7000.

The Live wedge is the biggest wedge of our pie. Remembering that God owns it all, we still have to decide how to use it. The Live wedge makes up about half of our income. The other half is divided between Give, Pay Taxes, Pay Debt and Grow (saving or investing).

One important principle gives us flexibility in our Live wedge: "Spend less than you earn because everything else depends on this habit."

Scripture offers us three very important guardrails concerning our Live wedge, each of which is found in the book of 1 Timothy.

The first isprovision."But if anyone does not provide for his own, that is his own household, he has denied the faith and is worse than an unbeliever"(1 Tim. 5:8).

The second iscontentment."But if we have food and clothing, we will be content with these"(1 Tim. 6:8).

The third isenjoyment."For everything created by God is good, and nothing should be rejected if it is received with thanksgiving"(1 Tim. 4:4)."Instruct those who are rich in the present age not to be arrogant or to set their hope on the uncertainty of wealth, but on God, who richly provides us with all things to enjoy"(1 Tim. 6:17).

Each of these three guardrailsprovision, contentment, and enjoyment is an area where we can and should make ahead-of-Lime decisions.

As adults, we’re free to determine what provision means, but with that freedom comes responsibility. It’s inescapable.

Determining what provision means for you can be a big dilemma, largely because it raises the deeper and very personal question, "How much is enough?" Provision itself is relative depending on the individual.

But when our possessions own us, it’s impossible to also be devoted to God. Jesus says in Matthew 6,"No one can be a slave of two masters, since either he will hate one and love the other, or be devoted to one and despise the other. You cannot be slaves of God and of money."

The next guardrail for keeping our lifestyle in check is Contentment, something the Biblealsohas a lot to say about.

Hebrews 13:5 says,"Make sure that your character is free from the love of money, being content with what you have; for He Himself has said, 'I will never desert you, nor will I ever forsake you.

Contentment can be learned by becoming more rooted in the reality of God's nearness and provision and by living in the spiritual reality of His promise that,"I will never desert you, nor will I ever forsake you."

Our last guardrail is enjoyment. The Bible certainly doesn’t forbid enjoyment, as some might think.

We can define enjoyment as grateful intentionality. Paul also gives us direction in this in 1 Timothy 6, Instruct those who are rich in the present age not to be arro-gant or to set their hope on the uncertainty of wealth, but on God, who richly provides us with all things to enjoy.

The ability to gratefully enjoy the gifts we haveboth material and nonmaterialis one of the pleasures of being God's children.

Here are some questions we answered from our callers on today’s program:

I am widowed and in my 30s with two small children. I have a retirement account and I do fractional stocks. I have some money in my savings. I recently moved in with my mom. When is the right time for me to purchase a home?

We have some home improvement projects to do. What is the best way to pay for these?

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 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 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

Heres a visual concept for you, think of your money as a pie. It doesnt matter how big the pie is. If the slice you carve out for lifestyle gets too big all the other slices have to shrink.

Its safe to say that most Americans live on more than they need to. Our culture is built on the idea that more is always better. The Bible takes a different view. Today, host Rob West welcomes financial expert Ron Blue to talk about our spending choices. Ron Blue has written many books on personal finance from a biblical perspective, but today were taking a deep dive into one chapter in his book,Never Enough: 3 Keys to Financial Contentment.Then it's your calls at 800-525-7000.

The Live wedge is the biggest wedge of our pie. Remembering that God owns it all, we still have to decide how to use it. The Live wedge makes up about half of our income. The other half is divided between Give, Pay Taxes, Pay Debt and Grow (saving or investing).

One important principle gives us flexibility in our Live wedge: "Spend less than you earn because everything else depends on this habit."

Scripture offers us three very important guardrails concerning our Live wedge, each of which is found in the book of 1 Timothy.

The first isprovision."But if anyone does not provide for his own, that is his own household, he has denied the faith and is worse than an unbeliever"(1 Tim. 5:8).

The second iscontentment."But if we have food and clothing, we will be content with these"(1 Tim. 6:8).

The third isenjoyment."For everything created by God is good, and nothing should be rejected if it is received with thanksgiving"(1 Tim. 4:4)."Instruct those who are rich in the present age not to be arrogant or to set their hope on the uncertainty of wealth, but on God, who richly provides us with all things to enjoy"(1 Tim. 6:17).

Each of these three guardrailsprovision, contentment, and enjoyment is an area where we can and should make ahead-of-Lime decisions.

As adults, were free to determine what provision means, but with that freedom comes responsibility. Its inescapable.

Determining what provision means for you can be a big dilemma, largely because it raises the deeper and very personal question, "How much is enough?" Provision itself is relative depending on the individual.

But when our possessions own us, its impossible to also be devoted to God. Jesus says in Matthew 6,"No one can be a slave of two masters, since either he will hate one and love the other, or be devoted to one and despise the other. You cannot be slaves of God and of money."

The next guardrail for keeping our lifestyle in check is Contentment, something the Biblealsohas a lot to say about.

Hebrews 13:5 says,"Make sure that your character is free from the love of money, being content with what you have; for He Himself has said, 'I will never desert you, nor will I ever forsake you.

Contentment can be learned by becoming more rooted in the reality of God's nearness and provision and by living in the spiritual reality of His promise that,"I will never desert you, nor will I ever forsake you."

Our last guardrail is enjoyment. The Bible certainly doesnt forbid enjoyment, as some might think.

We can define enjoyment as grateful intentionality. Paul also gives us direction in this in 1 Timothy 6, Instruct those who are rich in the present age not to be arro-gant or to set their hope on the uncertainty of wealth, but on God, who richly provides us with all things to enjoy.

The ability to gratefully enjoy the gifts we haveboth material and nonmaterialis one of the pleasures of being God's children.

Here are some questions we answered from our callers on todays program:

I am widowed and in my 30s with two small children. I have a retirement account and I do fractional stocks. I have some money in my savings. I recently moved in with my mom. When is the right time for me to purchase a home?

We have some home improvement projects to do. What is the best way to pay for these?

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 and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that its 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.

America is often described as the wealthiest nation ever, and rightly so. But we haven’t produced the wealthiest men in history, not by a long shot. Over the millennia, some individuals have amassed jaw-dropping amounts of wealth. But whatever became of their vast holdings? Kingdom Advisors President Rob West has the answers today on MoneyWise.

According to Forbes, Jeff Bezos, the founder of Amazon, is the richest guy in the world today worth about 176 billion dollars. We tend to think that the richest people ever are those around today but that’s not the case. Jeff Bezos wouldn’t come close to the two wealthiest people of all time. Who are these two individuals and how much were they worth?

The first was Mansa Musa. Not a household name, but he was the Islamic ruler of the Malian Empire in West Africa. In 1324, he made a pilgrimage to Mecca with an entourage of 60,000 people. On that trip, Mansa Musa gave away so much gold that it caused hyperinflation throughout the Middle East. So no individual today, no matter how wealthy, could come close to disrupting the economies of an entire region that way.

Second was Atahualpa. The Incas essentially had no economy at all. The emperor owned everythingfrom your house to the shoes on your feet. You worked for him and he rewarded you with what he determined you needed. No wonder he was wealthy. But all that came to an abrupt halt when the Spanish conquistadors invaded and took the emperor captive in 1533. Atahualpa paid a ransom said to be an entire room full of gold worth $230 million, which, as it turned out, was only pocket change to him.

Is there a moral to these stories? Yes, and we find it in Mark 8, where Jesus says, For what does it profit a man to gain the whole world and forfeit his soul? For what can a man give in return for his soul?Now we can ask the question, whatever became of all that wealth? Absolutely nothing. If it didn’t advance the gospel, of what value was it? In my view, none at all.

On today’s program we also answer your questions:

Can lowering the credit limit on my credit card hurt my credit score?

I have a small amount in my 403(b) plan. What’s the best thing to do with this?

How good is a Roth IRA?

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 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 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

America is often described as the wealthiest nation ever, and rightly so. But we havent produced the wealthiest men in history, not by a long shot. Over the millennia, some individuals have amassed jaw-dropping amounts of wealth. But whatever became of their vast holdings? Kingdom Advisors President Rob West has the answers today on MoneyWise.

According to Forbes, Jeff Bezos, the founder of Amazon, is the richest guy in the world today worth about 176 billion dollars. We tend to think that the richest people ever are those around today but thats not the case. Jeff Bezos wouldnt come close to the two wealthiest people of all time. Who are these two individuals and how much were they worth?

The first was Mansa Musa. Not a household name, but he was the Islamic ruler of the Malian Empire in West Africa. In 1324, he made a pilgrimage to Mecca with an entourage of 60,000 people. On that trip, Mansa Musa gave away so much gold that it caused hyperinflation throughout the Middle East. So no individual today, no matter how wealthy, could come close to disrupting the economies of an entire region that way.

Second was Atahualpa. The Incas essentially had no economy at all. The emperor owned everythingfrom your house to the shoes on your feet. You worked for him and he rewarded you with what he determined you needed. No wonder he was wealthy. But all that came to an abrupt halt when the Spanish conquistadors invaded and took the emperor captive in 1533. Atahualpa paid a ransom said to be an entire room full of gold worth $230 million, which, as it turned out, was only pocket change to him.

Is there a moral to these stories? Yes, and we find it in Mark 8, where Jesus says, For what does it profit a man to gain the whole world and forfeit his soul? For what can a man give in return for his soul?Now we can ask the question, whatever became of all that wealth? Absolutely nothing. If it didnt advance the gospel, of what value was it? In my view, none at all.

On todays program we also answer your questions:

Can lowering the credit limit on my credit card hurt my credit score?

I have a small amount in my 403(b) plan. Whats the best thing to do with this?

How good is a Roth IRA?

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 and Follow us on Facebook at MoneyWise Media for videos and the very latest discussion!Remember that its 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.