Everybody knows the first investing decision you should make is to max out any employer contributions to your 401(k) because it’s free money, right? But what if that money isn’t so free? They’re seldom talked about, but 401(k) matching contributions do come with strings attached. Today on MoneyWise, financial planner and teacher Rob West goes over this for us.

I still think it’s the best policy for most people, most of the time, to max out 401(k) contributions. But today we’re looking at a different point of view. The idea is that some investors might be better off by delaying 401(k) contributions in favor of making the maximum contribution to a Roth IRA.

Vesting. You may not realize it, but when you start making contributions into a company 401(k), the company often doesn’t begin matching those contributions right away. In fact, for your first year, your employer may make zero contributions. This is to protect the company from losing money in case you suddenly find a better job somewhere else.

QDIA or Qualified Default Investment Alternative. That’s what happens if you sign up to have money deposited in your 401(k) but you don’t designate it to go into a specific fund or funds. In that case, the money goes into a QDIA. This means that the 401(k) plan is making the decision for you and that may not always be in your best interest.

Contributing enough to your 401(k) to get your employer match is still the best option for most people, especially those who’d rather not be watching their portfolios all the time. Yes, there are definite advantages to a Roth IRA over a 401(k), such as tax free growth and withdrawal in retirement and many more investing options, and quite probably lower maintenance fees. But to take advantage of them you’ll need to give up employer matching and take a more active interest in your investments.

Refer to the Forbesarticleon401(k)matching (https://www.forbes.com/sites/jrose/2020/05/13/dave-ramsey-might-think-im-crazy-but-heres-why-you-should-skip-your-401k-match/amp/).

On today’s program we also answer your questions:

I’m 29 years old and am a first-time home buyer. I want to play it safe and go as affordable as possible (under $200,000). What do you think about manufactured homes with land?

What do you think of tithing, and does it matter if it’s on the gross or the net?

I have close to $80,000 in savings and investments. I’m 83 years old. My daughter wants to buy a house and I’d co-sign with her to help her out. It’d also be a place where I can live, too. I wouldn’t necessarily be helping her each month, but could. I do get Social Security. What do you think about 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 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

Everybody knows the first investing decision you should make is to max out any employer contributions to your 401(k) because its free money, right? But what if that money isnt so free? Theyre seldom talked about, but 401(k) matching contributions do come with strings attached. Today on MoneyWise, financial planner and teacher Rob West goes over this for us.

I still think its the best policy for most people, most of the time, to max out 401(k) contributions. But today were looking at a different point of view. The idea is that some investors might be better off by delaying 401(k) contributions in favor of making the maximum contribution to a Roth IRA.

Vesting. You may not realize it, but when you start making contributions into a company 401(k), the company often doesnt begin matching those contributions right away. In fact, for your first year, your employer may make zero contributions. This is to protect the company from losing money in case you suddenly find a better job somewhere else.

QDIA or Qualified Default Investment Alternative. Thats what happens if you sign up to have money deposited in your 401(k) but you dont designate it to go into a specific fund or funds. In that case, the money goes into a QDIA. This means that the 401(k) plan is making the decision for you and that may not always be in your best interest.

Contributing enough to your 401(k) to get your employer match is still the best option for most people, especially those whod rather not be watching their portfolios all the time. Yes, there are definite advantages to a Roth IRA over a 401(k), such as tax free growth and withdrawal in retirement and many more investing options, and quite probably lower maintenance fees. But to take advantage of them youll need to give up employer matching and take a more active interest in your investments.

Refer to the Forbesarticleon401(k)matching (https://www.forbes.com/sites/jrose/2020/05/13/dave-ramsey-might-think-im-crazy-but-heres-why-you-should-skip-your-401k-match/amp/).

On todays program we also answer your questions:

Im 29 years old and am a first-time home buyer. I want to play it safe and go as affordable as possible (under $200,000). What do you think about manufactured homes with land?

What do you think of tithing, and does it matter if its on the gross or the net?

I have close to $80,000 in savings and investments. Im 83 years old. My daughter wants to buy a house and Id co-sign with her to help her out. Itd also be a place where I can live, too. I wouldnt necessarily be helping her each month, but could. I do get Social Security. What do you think about 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 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.

The stock market’s been like a merry-go-round lately, one day bobbing up, the next day down. And investors feel like they’re just going around in circles. Does that mean it’s time to consider buying gold? Investors are like most people only more so. They don’t like uncertainty and in turbulent times, they look for stability. Does gold provide that security? Host Rob West sits down with investing expert Mark Biller to find out.

Investors in general have become much more interested in gold and precious metals as this year has unfolded.

Partly because of what is called the fear trade and partly because of the massive government response to the economic crisis, which has some inflationary implications for the future, and gold has always been a good inflation hedge.

A lot of investors tend to flock to gold when fear rises in the markets. Gold has a 4,000 year history of handling pretty much everything mankind can throw at it and still standing at the end.

The main reason to be cautious is precious metals can be a very volatile asset class. In addition to that, there are risks on each side of the economic recovery.

The easiest way for most people to add some gold exposure to a portfolio is by using an ETF, an Exchange Traded Fund, that tracks the price of gold. The biggest of these is GLD, and it can be bought and sold like any other stock or ETF.

If a person wants to add a more-or-less permanent allocation to gold, they might consider buying gold bullion coins over time.

To find the links and videos mentioned on today’s program, visit SoundMindInvesting.org

On today’s program we also answer your questions:

I am very cautious about donating money online because of security issues. Advice?

I was married for over 30 years. I am owed between 5-6 years of alimony. The social security woman that I spoke with told me that if I get a judge to write a garnishment that I will begin to receive his social security because he is not yet 62. Is this correct?

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

The stock markets been like a merry-go-round lately, one day bobbing up, the next day down. And investors feel like theyre just going around in circles. Does that mean its time to consider buying gold? Investors are like most people only more so. They dont like uncertainty and in turbulent times, they look for stability. Does gold provide that security? Host Rob West sits down with investing expert Mark Biller to find out.

Investors in general have become much more interested in gold and precious metals as this year has unfolded.

Partly because of what is called the fear trade and partly because of the massive government response to the economic crisis, which has some inflationary implications for the future, and gold has always been a good inflation hedge.

A lot of investors tend to flock to gold when fear rises in the markets. Gold has a 4,000 year history of handling pretty much everything mankind can throw at it and still standing at the end.

The main reason to be cautious is precious metals can be a very volatile asset class. In addition to that, there are risks on each side of the economic recovery.

The easiest way for most people to add some gold exposure to a portfolio is by using an ETF, an Exchange Traded Fund, that tracks the price of gold. The biggest of these is GLD, and it can be bought and sold like any other stock or ETF.

If a person wants to add a more-or-less permanent allocation to gold, they might consider buying gold bullion coins over time.

To find the links and videos mentioned on todays program, visit SoundMindInvesting.org

On todays program we also answer your questions:

I am very cautious about donating money online because of security issues. Advice?

I was married for over 30 years. I am owed between 5-6 years of alimony. The social security woman that I spoke with told me that if I get a judge to write a garnishment that I will begin to receive his social security because he is not yet 62. Is this correct?

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.

The numbers are starting to come in and they’re not good. The COVID-19 crisis has caused a significant downturn in church giving. That much was expected. But what can we do about it? With millions of Americans out of work and services canceled for weeks, churches are struggling. Rob West talks with Brian Kluth of the National Association of Evangelicals about a battle plan for the coming financial challenges.

Pastor Brian Kluth is a noted speaker and author on church giving and currently serves as director of the NAE’s multi-year initiative to address the economic needs of pastors.

Giving has gone down in 65% of churches, a much worse figure than the #StateofthePlate Recession when 38% of churches saw giving declines.

30% of church families reported losing income or jobs.

Good news: 48% of churches are reaching 2 to 5+ times more people online than in their normal weekend services in January.

Some churches are starting to hold services again but with significant restrictions on seating and capacity. Pastors are reporting about attendance during the shutdown.

Here’s a 10-step battle plan for pastors and church leaders to meet this financial crisis: (1) Review available COVID-19 church resources, (2) reopen under government guidelines, (3) choose a weekly offertory verse, (4) start or expand a benevolence program, (5) reassess and rebuild the church budget, (6) distribute 30- or 40-day devotionals, (7) help co-sponsor a Saturday financial conference event, (8) minister to the financially hurting and financially healthy, (9) participate in the Easy 1-2-3 Bless Your Pastor national movement, (10) seek the Lord and evaluate options for your church’s future.

If you can find a way to increase your church giving (even temporarily), it would be a huge help.

State of the Plate 2-Minute Poll - Coronavirus/COVID-19 Financial Impact on Your Family Church(http://www.stateoftheplate.info/2020results.pdf)

10-Step #WinningBattlePlan for Churches to Defeat the Coming $$$ Challenges(http://www.stateoftheplate.info/10steps.pdf)

On today’s program we also answer your questions:

What iswww.creditkarma.comand is it safe?

I live in Florida and need to hurricane-proof my windows. Can that be done for free? Checkbankrate.comfor more information related to this caller’s question.

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

The numbers are starting to come in and theyre not good. The COVID-19 crisis has caused a significant downturn in church giving. That much was expected. But what can we do about it? With millions of Americans out of work and services canceled for weeks, churches are struggling. Rob West talks with Brian Kluth of the National Association of Evangelicals about a battle plan for the coming financial challenges.

Pastor Brian Kluth is a noted speaker and author on church giving and currently serves as director of the NAEs multi-year initiative to address the economic needs of pastors.

Giving has gone down in 65% of churches, a much worse figure than the #StateofthePlate Recession when 38% of churches saw giving declines.

30% of church families reported losing income or jobs.

Good news: 48% of churches are reaching 2 to 5+ times more people online than in their normal weekend services in January.

Some churches are starting to hold services again but with significant restrictions on seating and capacity. Pastors are reporting about attendance during the shutdown.

Heres a 10-step battle plan for pastors and church leaders to meet this financial crisis: (1) Review available COVID-19 church resources, (2) reopen under government guidelines, (3) choose a weekly offertory verse, (4) start or expand a benevolence program, (5) reassess and rebuild the church budget, (6) distribute 30- or 40-day devotionals, (7) help co-sponsor a Saturday financial conference event, (8) minister to the financially hurting and financially healthy, (9) participate in the Easy 1-2-3 Bless Your Pastor national movement, (10) seek the Lord and evaluate options for your churchs future.

If you can find a way to increase your church giving (even temporarily), it would be a huge help.

State of the Plate 2-Minute Poll - Coronavirus/COVID-19 Financial Impact on Your Family Church(http://www.stateoftheplate.info/2020results.pdf)

10-Step #WinningBattlePlan for Churches to Defeat the Coming $$$ Challenges(http://www.stateoftheplate.info/10steps.pdf)

On todays program we also answer your questions:

What iswww.creditkarma.comand is it safe?

I live in Florida and need to hurricane-proof my windows. Can that be done for free? Checkbankrate.comfor more information related to this callers question.

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.

Gone are the days when workers stayed with one company for 40 years and retired with a gold watch and a pension. We live in a job-hopping economy and that poses new challenges for managing health care costs. These days, just about everyone could benefit from a health plan that stays with them through life’s stages. Host Rob West talks about that with Christian Healthcare Ministries’ Lauren Gajdek.

Medical cost sharing has been around a long time. It’s not health insurance but a voluntary, medical cost-sharing program. We share medical bills, and costs are pooled together nationwide.

Since 1981, Christian Healthcare Ministries has exceeded 5 billion dollars in cost sharing!

Who can benefit from this program? Anyone who’s a Christian living by Biblical principles. Age does not matter and neither does your health history.

College students are increasingly interested in medical cost sharing. Maybe their parents’ health plan isn’t working for them and neither is their college’s. The least expensive way to get in is only $78 monthly.

Since CHM isn’t tied to your employer, you can take it with you wherever you go. This also makes it great for entrepreneurs.

You don’t have to wait for an open enrollment to make changes to you plan and you can join anytime.

Looking to start a family of any size? Christian Healthcare Ministries offers maternity and has programs that tailor for your needs.

Medical cost sharing also is great for those who are in later stages of life. The costs don’t go up even if you have major medical incidents. We never raise the monthly, membership price.

Learn more about Lauren Gajdek and Healthcare Ministries atCHMinistries.org

On today’s program we also answer your questions:

I have $5,000 in savings to get my daughter a new car in 6 months. It’s been suggested that I move that money into a money market account. What do you think?

I’m going through financial struggles. What I know about money was from my parents who weren’t wise with it. I have 2 small children and I need a more stable situation so that I can take care of them. I have trouble with discipline regarding money. What resources can you suggest to help me?

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

Gone are the days when workers stayed with one company for 40 years and retired with a gold watch and a pension. We live in a job-hopping economy and that poses new challenges for managing health care costs. These days, just about everyone could benefit from a health plan that stays with them through lifes stages. Host Rob West talks about that with Christian Healthcare Ministries Lauren Gajdek.

Medical cost sharing has been around a long time. Its not health insurance but a voluntary, medical cost-sharing program. We share medical bills, and costs are pooled together nationwide.

Since 1981, Christian Healthcare Ministries has exceeded 5 billion dollars in cost sharing!

Who can benefit from this program? Anyone whos a Christian living by Biblical principles. Age does not matter and neither does your health history.

College students are increasingly interested in medical cost sharing. Maybe their parents health plan isnt working for them and neither is their colleges. The least expensive way to get in is only $78 monthly.

Since CHM isnt tied to your employer, you can take it with you wherever you go. This also makes it great for entrepreneurs.

You dont have to wait for an open enrollment to make changes to you plan and you can join anytime.

Looking to start a family of any size? Christian Healthcare Ministries offers maternity and has programs that tailor for your needs.

Medical cost sharing also is great for those who are in later stages of life. The costs dont go up even if you have major medical incidents. We never raise the monthly, membership price.

Learn more about Lauren Gajdek and Healthcare Ministries atCHMinistries.org

On todays program we also answer your questions:

I have $5,000 in savings to get my daughter a new car in 6 months. Its been suggested that I move that money into a money market account. What do you think?

Im going through financial struggles. What I know about money was from my parents who werent wise with it. I have 2 small children and I need a more stable situation so that I can take care of them. I have trouble with discipline regarding money. What resources can you suggest to help me?

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.

At a putt-putt golf course on a hot summer day, two young siblings argued over who was winning. I am, said one. No, I am, said another. You’re both wrong, said their father. Your mother’s winningshe’s at home. Summer’s a great time to get out of the house but it also means higher electric bills. Today, financial planner and teacher Rob West has ways to keep cool without breaking the bank.

The first thing to do is an energy audit. The easiest way is to contact your utility company to see if they offer afree one. These reveal areas where cool air is escaping like around windows and doors or by not having enough attic insulation. Ideally, it gives you a game plan for keeping the heat out.

If your utility company doesn’t offer a free audit, then online energy audit tools can help. Energy Star offers one, there are others. But you can conduct your own energy audit. Look for cracks around windows and doors, for example. If you can see light coming in, hot air’s coming in with it.

A lot of energy is wasted by light bulbs. It may only cost pennies to keep a light on, but over time those pennies add up. Develop the habit of turning lights off when you’re not using them.

Air filtersdon’t think of replacing them as an expense, but as a cost-saving measure. A new filter allows your system to run more efficiently and extends its life. If you use expensive filters, replace them every three months, especially in the summer. If you use cheaper filters, replace them every month.

Programmable thermostats are another great way to save on energy. Depending upon the season, you can set them to automatically raise or lower your temperature while you’re away or asleep.

Make sure your dishwasher and clothes washer are full before you use them. A typical load of clothes costs about 70 to wash and dry. That doesn’t sound like a lot. But if you’re running the washer half-full all the time, it adds up. And whenever possible, use a cold or warm water cycle instead of hot.

Finally, ask about any discounts or other incentives your utility company may offer for cutting energy costs. For example, signing up for paperless billing or auto-payment may save you a few dollars each month.

On today’s program we also answer your questions:

Is tithing for us to obey today? If so, help me to understand how much, which figure to base if off of, and from which sources of income. If it’s not for us to follow, how is our money to be given today?

If I receive a government stimulus check made out to my deceased spouse, what do I do with it?

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

At a putt-putt golf course on a hot summer day, two young siblings argued over who was winning. I am, said one. No, I am, said another. Youre both wrong, said their father. Your mothers winningshes at home. Summers a great time to get out of the house but it also means higher electric bills. Today, financial planner and teacher Rob West has ways to keep cool without breaking the bank.

The first thing to do is an energy audit. The easiest way is to contact your utility company to see if they offer afree one. These reveal areas where cool air is escaping like around windows and doors or by not having enough attic insulation. Ideally, it gives you a game plan for keeping the heat out.

If your utility company doesnt offer a free audit, then online energy audit tools can help. Energy Star offers one, there are others. But you can conduct your own energy audit. Look for cracks around windows and doors, for example. If you can see light coming in, hot airs coming in with it.

A lot of energy is wasted by light bulbs. It may only cost pennies to keep a light on, but over time those pennies add up. Develop the habit of turning lights off when youre not using them.

Air filtersdont think of replacing them as an expense, but as a cost-saving measure. A new filter allows your system to run more efficiently and extends its life. If you use expensive filters, replace them every three months, especially in the summer. If you use cheaper filters, replace them every month.

Programmable thermostats are another great way to save on energy. Depending upon the season, you can set them to automatically raise or lower your temperature while youre away or asleep.

Make sure your dishwasher and clothes washer are full before you use them. A typical load of clothes costs about 70 to wash and dry. That doesnt sound like a lot. But if youre running the washer half-full all the time, it adds up. And whenever possible, use a cold or warm water cycle instead of hot.

Finally, ask about any discounts or other incentives your utility company may offer for cutting energy costs. For example, signing up for paperless billing or auto-payment may save you a few dollars each month.

On todays program we also answer your questions:

Is tithing for us to obey today? If so, help me to understand how much, which figure to base if off of, and from which sources of income. If its not for us to follow, how is our money to be given today?

If I receive a government stimulus check made out to my deceased spouse, what do I do with it?

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.