The ancient Egyptians may have been first to use fractional numbers around 1,800 B.C. And these days, some mathematicians still prefer fractions over decimals. But I think their argument is pointless. All puns aside, today, in the world of investing, fractions are more popular than ever. On today’s MoneyWise, Kingdom Advisors President Rob West talks about buying just a piece of a stock. It’s called fractional investing.

Fractional investing allows you to invest without a lot of money. Shares of some stocks and ETFs (Exchange-traded Funds) are so expensive that many investors can’t afford it or don’t want to risk owning a whole share. It’s like enjoying pizza by the slice instead of having to buy the whole pie.

In the past you had to purchase at least one full share of a company. But that left out a lot of small investors. Today, with fractional investing, you can own part of a company or fund by purchasing as little as 1% of a share (1/100th).

Proponents of fractional investing will tell you that it’s a great way to diversify your holdings with limited funds. It allows you to own a much greater variety of stocks and funds with the same amount of money whereas before, you had to invest in a single company. So with just $1,000 you could invest in dozens of stocks or ETFs.

There are now several apps you can download to do this: Stash, Robinhood or Acorns. There are also larger brokers such as Fidelity and Schwab that do this. Those are good options if you’re specifically interested in owning part of a pricey stock like Amazon or Apple. But if you simply want to get a better return than what banks can give on a small amount of money, Wealthfront or Betterment are good options.

Before getting started in fractional investing, make sure you’re ready to invest. It doesn’t make sense to put money into something like fractional shares if you have credit card debt. Any money you make will be dwarfed by what you’re paying in interest on a credit card balance; so pay that off first. Also, you’ll want to have your emergency savings fully funded with 3 to 6 months of living expenses in something like an online savings account to get the maximum interest rate. Even then, fractional investing shouldn’t be your first choice. If your employer offers a 401(k) with matching contributions, you should first contribute enough to max that out. It’s free money.

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

How do I invest my money in a Godly way? Some companies invest in sinful areas.

Do you recommend doing a reverse mortgage?

Regarding pensions, how do you recommend I take it should I pass away, leaving my wife? In a lump sum or in monthly pay-outs?

Help me to understand the fees associated with a professional financial advisor.

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

The ancient Egyptians may have been first to use fractional numbers around 1,800 B.C. And these days, some mathematicians still prefer fractions over decimals. But I think their argument is pointless. All puns aside, today, in the world of investing, fractions are more popular than ever. On todays MoneyWise, Kingdom Advisors President Rob West talks about buying just a piece of a stock. Its called fractional investing.

Fractional investing allows you to invest without a lot of money. Shares of some stocks and ETFs (Exchange-traded Funds) are so expensive that many investors cant afford it or dont want to risk owning a whole share. Its like enjoying pizza by the slice instead of having to buy the whole pie.

In the past you had to purchase at least one full share of a company. But that left out a lot of small investors. Today, with fractional investing, you can own part of a company or fund by purchasing as little as 1% of a share (1/100th).

Proponents of fractional investing will tell you that its a great way to diversify your holdings with limited funds. It allows you to own a much greater variety of stocks and funds with the same amount of money whereas before, you had to invest in a single company. So with just $1,000 you could invest in dozens of stocks or ETFs.

There are now several apps you can download to do this: Stash, Robinhood or Acorns. There are also larger brokers such as Fidelity and Schwab that do this. Those are good options if youre specifically interested in owning part of a pricey stock like Amazon or Apple. But if you simply want to get a better return than what banks can give on a small amount of money, Wealthfront or Betterment are good options.

Before getting started in fractional investing, make sure youre ready to invest. It doesnt make sense to put money into something like fractional shares if you have credit card debt. Any money you make will be dwarfed by what youre paying in interest on a credit card balance; so pay that off first. Also, youll want to have your emergency savings fully funded with 3 to 6 months of living expenses in something like an online savings account to get the maximum interest rate. Even then, fractional investing shouldnt be your first choice. If your employer offers a 401(k) with matching contributions, you should first contribute enough to max that out. Its free money.

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

How do I invest my money in a Godly way? Some companies invest in sinful areas.

Do you recommend doing a reverse mortgage?

Regarding pensions, how do you recommend I take it should I pass away, leaving my wife? In a lump sum or in monthly pay-outs?

Help me to understand the fees associated with a professional financial advisor.

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.

How should believers engage a culture sorely in need of the Gospel? Author and pastor Tyler Edwards writes, Find a way to invest yourself, the revolution begins now, and it starts with you. Christian investors have a unique opportunity to witness for Christ. Jesus was certainly an activist, but Christians by nature aren’t. Host Rob West welcomes economist Jerry Bowyer for a look at how that can change.Jerry Bowyer is the chief economist at Vident Financial, but he’s also the President of Bowyer Research. Bowyer Research has put together a blueprint for Christian investors to engage the culture.Then it’s your calls at 800-525-7000.

Christian investors struggle with the idea of investing in companies involved in ungodly practices. Jerry talks about now being the time for Christians to get involved in corporate activism.

Jerry explains ESG strategies and talks about how these strategies can affect the economy.

He then talks about what most investors are concerned with in our current investing climate.

Rob asks Jerry to explain why investing (taking an active approach) is better than di-vesting.

Jerry and Rob speak about the model that Jesus set for us in the area of investing and engaging the culture. They speak about who Jesus and his disciples did financial work with and whom they tended to stay away from.

They also offer Biblical wisdom and advice on how to use your voice for good. They offer advice on how to influence in a Christian way.

You can download Jerry’s booklet,The Christian’s Handbook for Transforming Corporate America for free atMoneyWise.org/resources

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

I am retired and I have some investing accounts. I have been managing them myself. How should I best educate myself about my investing options?

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

How should believers engage a culture sorely in need of the Gospel? Author and pastor Tyler Edwards writes, Find a way to invest yourself, the revolution begins now, and it starts with you. Christian investors have a unique opportunity to witness for Christ. Jesus was certainly an activist, but Christians by nature arent. Host Rob West welcomes economist Jerry Bowyer for a look at how that can change.Jerry Bowyer is the chief economist at Vident Financial, but hes also the President of Bowyer Research. Bowyer Research has put together a blueprint for Christian investors to engage the culture.Then its your calls at 800-525-7000.

Christian investors struggle with the idea of investing in companies involved in ungodly practices. Jerry talks about now being the time for Christians to get involved in corporate activism.

Jerry explains ESG strategies and talks about how these strategies can affect the economy.

He then talks about what most investors are concerned with in our current investing climate.

Rob asks Jerry to explain why investing (taking an active approach) is better than di-vesting.

Jerry and Rob speak about the model that Jesus set for us in the area of investing and engaging the culture. They speak about who Jesus and his disciples did financial work with and whom they tended to stay away from.

They also offer Biblical wisdom and advice on how to use your voice for good. They offer advice on how to influence in a Christian way.

You can download Jerrys booklet,The Christians Handbook for Transforming Corporate America for free atMoneyWise.org/resources

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

I am retired and I have some investing accounts. I have been managing them myself. How should I best educate myself about my investing options?

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.

What do millennials have in common besides being young adults trying to carve out careers and start families? The vast majority graduated from high school with no formal training in personal finances. Sadly, most high schools don’t teach financial literacy. So, young people enter the working world or go off to college knowing little about managing money. Financial planner and teacher Rob West has a crash course today.

A study by the Federal Reserve shows that millennials have racked up $1 trillionin debt, an increase of 22% in just 5 years, the most of any generation in history. There’s no question that financial literacy should be a priority in the K-12 curriculum.

Learn to say no. When you’re young and starting out on your own there’s the temptation to overspend. Everyone needs to learn delayed gratification, but especially young adults. They’ll start getting credit card offers, which, at first, seems like a source of easy moneycharge now,pay later.

Your spending plan won’t do you much good if you’re not watching where your money goes. There are plenty of free apps available to track your spending. Download one and put it to work.You’ll soondiscover that a daily $3 cup of coffee costs you nearly $100 a month! By tracking your spending, you’ll get a picture of unnecessary expenses you can trim to stay within your plan.

Prepare for the unexpected like a temporary job loss or the transmission going out. If you can’t pay the rent you’ll need a place to stay, and hopefully the folks haven’t turned your bedroom into a home theater! The solution is to start putting your surplus money into an emergency fund. Start with a goal of $1,500. Once you have that saved up, keep going for one month’s living expenses and don’t stop until you have at least 3 months’ expenses saved up. This way, you’ll be ready for unplanned expenses and you won’t have to make that uncomfortable phone call home.

Consider longer-range saving goals. A new car, a downpayment on a house, and retirement should be planned today. If you’re already making a car payment, then once it’s paid off, continue putting that amount into savings for your next car. Get to the point where you can pay cash without taking out a car loan.

Save 10-15% of your income for retirement. It’s difficult for young people to think that far ahead, but the earlier you start, the better. If you were to invest just $100 a month starting at age 30 (with an annual yield of 8%), by the time you retire at age 67 you’d have nearly $275,000.

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

One caller and Rob West warned about how phone scams work.

I’d like to learn more about playing the stock market. What do you advise?

I’ve made getting debt free a priority. I’d also like to preserve my credit score. I’ve got several credit cards. Where should I start?

Is there a Christian cost-sharing home owner/auto insurance company I can get on with?Inspireinsight.comwas the website Rob referenced with this caller.

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

What do millennials have in common besides being young adults trying to carve out careers and start families? The vast majority graduated from high school with no formal training in personal finances. Sadly, most high schools dont teach financial literacy. So, young people enter the working world or go off to college knowing little about managing money. Financial planner and teacher Rob West has a crash course today.

A study by the Federal Reserve shows that millennials have racked up $1 trillionin debt, an increase of 22% in just 5 years, the most of any generation in history. Theres no question that financial literacy should be a priority in the K-12 curriculum.

Learn to say no. When youre young and starting out on your own theres the temptation to overspend. Everyone needs to learn delayed gratification, but especially young adults. Theyll start getting credit card offers, which, at first, seems like a source of easy moneycharge now,pay later.

Your spending plan wont do you much good if youre not watching where your money goes. There are plenty of free apps available to track your spending. Download one and put it to work.Youll soondiscover that a daily $3 cup of coffee costs you nearly $100 a month! By tracking your spending, youll get a picture of unnecessary expenses you can trim to stay within your plan.

Prepare for the unexpected like a temporary job loss or the transmission going out. If you cant pay the rent youll need a place to stay, and hopefully the folks havent turned your bedroom into a home theater! The solution is to start putting your surplus money into an emergency fund. Start with a goal of $1,500. Once you have that saved up, keep going for one months living expenses and dont stop until you have at least 3 months expenses saved up. This way, youll be ready for unplanned expenses and you wont have to make that uncomfortable phone call home.

Consider longer-range saving goals. A new car, a downpayment on a house, and retirement should be planned today. If youre already making a car payment, then once its paid off, continue putting that amount into savings for your next car. Get to the point where you can pay cash without taking out a car loan.

Save 10-15% of your income for retirement. Its difficult for young people to think that far ahead, but the earlier you start, the better. If you were to invest just $100 a month starting at age 30 (with an annual yield of 8%), by the time you retire at age 67 youd have nearly $275,000.

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

One caller and Rob West warned about how phone scams work.

Id like to learn more about playing the stock market. What do you advise?

Ive made getting debt free a priority. Id also like to preserve my credit score. Ive got several credit cards. Where should I start?

Is there a Christian cost-sharing home owner/auto insurance company I can get on with?Inspireinsight.comwas the website Rob referenced with this caller.

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.

When Social Security was introduced 85 years ago, Americans had much shorter lifespans and many workers relied upon guaranteed pensions for retirement income. However, those days are long gone. Social Security benefits have become far more important to average retirees than was ever intended but many workers fail to make the most of them. Today, Financial planner and teacher Rob West shares some ways to increase those benefits.

In 1935 when the Social Security program was introduced, pensions were common and provided guaranteed retirement income for as long as you lived. Now the average lifespan of Americans has increased considerably. As a result, Americans now need many more years of retirement income. Studies show that if workers were allowed to conservatively invest the same amount of money they contribute to Social Security they’d be far ahead at retirement.

Make the most of your potential Social Security benefits. The decisions you make can raise or lower those benefits.

(1) Make sure you work a full 35 years. The Social Security Administration uses your highest 35 years of earnings to determine your level of benefits. Any years less than 35 count as zeros and lower your benefits. (2) Work more as you near retirement. After age 60, your earnings count more and they have a greater, positive impact on your benefits. (3) Delay benefits until you reach at least your full retirement age (which for most people working today is 66). Each year you delay receiving benefits beyond your full retirement age increases your benefits by 8%. (4) Married couples need to delay their benefits while claiming those of their spouse. If you and your spouse have both reached full retirement age, go ahead and claim spousal benefits, but let yours continue to grow until you reach age 70. (5) Watch out for taxes on your Social Security benefits. If you continue to work after you begin receiving benefits, anywhere from 50 to 85% of those benefits could be counted as taxable income.

It would be a good idea to consult with a financial advisor on the best ways to minimize your tax liability during retirement. A Certified Kingdom Advisor can help you do that and you can find one by going toMoneyWise.organd clicking on Find a CKA.

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

Under which situation can I use my 401(k) to pay off my house?

The US national debt has me confused. Can you shed more light on this?

Should I invest in property or should I move into a senior citizens’ building? I don’t plan on retiring anytime soon; I’m 60 years old and am in good health.

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

When Social Security was introduced 85 years ago, Americans had much shorter lifespans and many workers relied upon guaranteed pensions for retirement income. However, those days are long gone. Social Security benefits have become far more important to average retirees than was ever intended but many workers fail to make the most of them. Today, Financial planner and teacher Rob West shares some ways to increase those benefits.

In 1935 when the Social Security program was introduced, pensions were common and provided guaranteed retirement income for as long as you lived. Now the average lifespan of Americans has increased considerably. As a result, Americans now need many more years of retirement income. Studies show that if workers were allowed to conservatively invest the same amount of money they contribute to Social Security theyd be far ahead at retirement.

Make the most of your potential Social Security benefits. The decisions you make can raise or lower those benefits.

(1) Make sure you work a full 35 years. The Social Security Administration uses your highest 35 years of earnings to determine your level of benefits. Any years less than 35 count as zeros and lower your benefits. (2) Work more as you near retirement. After age 60, your earnings count more and they have a greater, positive impact on your benefits. (3) Delay benefits until you reach at least your full retirement age (which for most people working today is 66). Each year you delay receiving benefits beyond your full retirement age increases your benefits by 8%. (4) Married couples need to delay their benefits while claiming those of their spouse. If you and your spouse have both reached full retirement age, go ahead and claim spousal benefits, but let yours continue to grow until you reach age 70. (5) Watch out for taxes on your Social Security benefits. If you continue to work after you begin receiving benefits, anywhere from 50 to 85% of those benefits could be counted as taxable income.

It would be a good idea to consult with a financial advisor on the best ways to minimize your tax liability during retirement. A Certified Kingdom Advisor can help you do that and you can find one by going toMoneyWise.organd clicking on Find a CKA.

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

Under which situation can I use my 401(k) to pay off my house?

The US national debt has me confused. Can you shed more light on this?

Should I invest in property or should I move into a senior citizens building? I dont plan on retiring anytime soon; Im 60 years old and am in good health.

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.

It’s often said that there’s no such thing as a free lunch. Everything costs something and sometimes those costs are hidden. Could this be especially true with our investments? Most of us have money in a 401(k), an IRA, or some other retirement plan. But do we always know the costs in fees and commissions? Kingdom Advisors President Rob West pulls back the curtain today on investing’s hidden costs.

Some brokerages may charge more than others to manage a retirement plan or a particular mutual fund. When you know what types of fees are charged, you can then shop around for investments with lower fees and commissions.

Different investments have different types of costs. Mutual funds, for example, charge something called an expense ratio. This is the cost of managing the fund, given as a percentage. Let’s say you had a great year with a particular fund and you made 10%. However, the fund has a 1.5% expense ratio. This means you really only made 8.5%. The fee isn’t exactly hidden, but you’ll never see it as a bill, either. It’s deducted from your assets.

We also have annual and custodian fees. Annual fees typically run from $25 to $90 a year. Custodian fees are what retirement plan managers charge for complying with IRS reporting regulations. They usually run from $10 to $50 a year.

No load funds arepreferable to a load fund, but so-called no load funds may still have some fees. You may have to hold your shares for a period of time, often five years, or you’ll be charged a commission.

Choose investments that have lower fees and commissions; these costs add up.

Morningstarhas determined that in most cases, you’ll have greater earnings over time just by choosing funds with lower expense ratios. Simply put, cheaper is better when it comes to fees and commissions:https://www.morningstar.com/articles/752485/fund-fees-predict-future-success-or-failure

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

I’m 65 years old and started late with saving for retirement. I think it’s too late at this point, but I still can and do work. Should I rely upon Social Security or what? I have health issues as well. I just don’t know what to do.

I have a 30-year mortgage. At what point should I refinance?

I recently closed out my 401(k) at where I had been working. The money is now just sitting in an account. What’s the best thing to do with this money?

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

Its often said that theres no such thing as a free lunch. Everything costs something and sometimes those costs are hidden. Could this be especially true with our investments? Most of us have money in a 401(k), an IRA, or some other retirement plan. But do we always know the costs in fees and commissions? Kingdom Advisors President Rob West pulls back the curtain today on investings hidden costs.

Some brokerages may charge more than others to manage a retirement plan or a particular mutual fund. When you know what types of fees are charged, you can then shop around for investments with lower fees and commissions.

Different investments have different types of costs. Mutual funds, for example, charge something called an expense ratio. This is the cost of managing the fund, given as a percentage. Lets say you had a great year with a particular fund and you made 10%. However, the fund has a 1.5% expense ratio. This means you really only made 8.5%. The fee isnt exactly hidden, but youll never see it as a bill, either. Its deducted from your assets.

We also have annual and custodian fees. Annual fees typically run from $25 to $90 a year. Custodian fees are what retirement plan managers charge for complying with IRS reporting regulations. They usually run from $10 to $50 a year.

No load funds arepreferable to a load fund, but so-called no load funds may still have some fees. You may have to hold your shares for a period of time, often five years, or youll be charged a commission.

Choose investments that have lower fees and commissions; these costs add up.

Morningstarhas determined that in most cases, youll have greater earnings over time just by choosing funds with lower expense ratios. Simply put, cheaper is better when it comes to fees and commissions:https://www.morningstar.com/articles/752485/fund-fees-predict-future-success-or-failure

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

Im 65 years old and started late with saving for retirement. I think its too late at this point, but I still can and do work. Should I rely upon Social Security or what? I have health issues as well. I just dont know what to do.

I have a 30-year mortgage. At what point should I refinance?

I recently closed out my 401(k) at where I had been working. The money is now just sitting in an account. Whats the best thing to do with this money?

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.