Transcript

Have you done any planning about your financial future or for that matter

>> Don Hawkins: coming up on Encouragement Live, have you done any planning about your financial future or for that matter, your financial present? Roxanne Intermuel of his faithful stewards addresses this important issue tonight on Encouragement Live.

>> Steve: Welcome to Encouragement Live, providing biblically based encouragement and insight on a wide range of practical life issues. Now, here's your host, Don Hawkins, author of, Master Discipleship Today.

>> Don Hawkins: Thank you, Steve and friend. It's so good to have you with us. As live from studios located in First Christian Church of Wylie, Texas, Encouragement Communications presents Encouragement Live. Our mission is to provide biblically based encouragement and insight on a wide range of practical life issues. And, finances and money is a huge issue. It's one that's talked about a great deal in Scripture. Jesus had a great deal to say about money. Where your treasure is, there will your heart be Also, Roxanne Intermuel of his faithful stewards.com is back with me tonight. Roxanne, great to have you on the program.

>> Jane: Well, thanks, Don. It's great to be here.

>> Don Hawkins: And, been praying for you this week and also praying for folks who have been devastated by the flooding down in the hill country of Texas. I know you and your team out there, as well as people all over this country have been praying for them. And I, I just wanted to remind, our listening family of that. There's a tremendous need for prayer. people are grieving. I think the death, total is 120. And it's been there for a while, but there's still, well over 160, 170 people missing and presumed dead at this point. So we need a lot of prayer for those folks for sure. Right?

>> Jane: Yes, absolutely.

>> Don Hawkins: Yeah. And I want to remind our listening family at the beginning of our show, you can schedule a free time to talk with Roxanne at her website. His faithful stewards.com Roxanne's one of the easiest people in the world I know to talk with. And, to talk with her. Just follow the links on the website, set up a good time to talk about a spending plan or, talk about your investment portfolio or what you'd like to do with the future. you can call our office to set a time if that works better. The link there and the phone number are both on the website. His Faithful Stewards.com. there's also a, a free webinar coming up about will, awareness and living trusts. That'll happen at 5pm this coming Wednesday, July 15th. That would be 6pm Central Time, 5pm Mountain Time. And you can Sign up on the website under the webinar tab at his faithful stewards dot com.

How often do we consult the Lord when planning for the future

Now, Roxanne, in some ways we are a society of planners. We have daily schedules, five year goals. We map out our paths and try to design a life of success and happiness. But I wonder too, how often we pause to consult the Lord when we're planning and saying, is this my plan or his? I've actually heard some people say it's wrong to plan. Just trust God. But I don't think that's biblical, is it?

>> Jane: No, I would agree with you, and I don't think it is at all. I think of Proverbs 21:5 that reminds us that the plans of the diligent leave to profit. and I believe that verse has a direct application to when we're talking about financial planning. And I believe there's other statements in Proverbs that indicate benefits for diligent planning, too, that I'm pretty sure you could quote.

>> Don Hawkins: Well, in fact, I made a list of those because it seemed to me that would fit right into what we're talking about tonight. since we're coming up on a break, I'll save those until after the break, but I will remind our listening family. Maybe you have a question about your spending plan or about your planning for the future, about your investment portfolio, your retirement plan. Our toll free number is 855-586-5433. That's 855-586-LIFE. And you can schedule a time to talk personally with Roxanne in confidence and at no charge, no obligation, at his faithful stewards dot com. Just go to that website, his faithful stewards dot com. There's a scheduling app there and you can set that up and you'll be able to visit with Roxanne. And if you're one of those people who is, shall we say, technologically challenged and you would prefer to just call a number, the office number is on the website as well. If you have trouble getting there, get your grandson or granddaughter to help you get to the website. His faithful stewards.com will be right back.

>> Jane: We're over 100 years old.

>> Don Hawkins: Dallas Theological Seminary President Dr. Mark Yarborough on the seminary's motto, teach truth, love.

>> Jane: Well, that is what we do.

>> Don Hawkins: That's our slogan that we use.

>> Caroline: Obviously, it's preach the word for all of us. We are called to teach truth and live it out.

>> Don Hawkins: To learn more about how Dallas Theological Seminary can equip you for biblically based Christian service, visit DTS Edu.

Teen Challenge offers hope and healing for a new drug free future

That's dts edu I was so.

>> Dr. Rex Rogers: High and I was so drunk that I couldn't walk. I couldn't even stand up. I collapsed in my garage. And then I awoke two days later in the hospital. I heard about Teen Challenge. I came here and this place has shown me that it truly does care. That's when everything changed.

>> Toni King: At Adult and Teen Challenge we provide hope and healing for a new drug free future. And you can find the center nearest you at 8:55 and addiction or teenchallengeusa.org Freedom from addiction starts here.

Roxanne: July 15th is actually a Tuesday

>> Don Hawkins: We are back with Roxanne intermule of his faithful stewards.com and our toll free number, 855-586-5433. And my thanks to Danny and Rodney and Keith Mayo at the Worship channel, keeping us on target. And Roxanne, speaking of Keith Mayo, he just sent me a message during the break and reminded, me that July 15th is actually a Tuesday. And I did look at the calendar and check on.

>> Jane: For you.

>> Don Hawkins: And this will be important for our listening family. will this be on Wednesday, which would be the 16th, or will it be on the 15th, which would be Tuesday?

>> Jane: let me take a quick peek.

>> Don Hawkins: Always good when we double check these things. And that's why I appreciate folks like Keith who look at the calendar when they hear us say something on the air. And but, we are going to find out the answer of that.

Proverbs 10:4 says the hand of the diligent makes rich

and while you're looking for that, let me mention some of those statements in Proverbs we. You mentioned Proverbs 21:5. The plans of the diligent lead to profit. And that certainly is a financial statement, if there ever was one found in the book of Proverbs. And here's, some other proverbs. some of you might want to jot these down. One of them is Proverbs 10, verse 4. It says, the hand of the diligent makes rich. And, I think that is the opposite of a person who is lazy, who does not work hard. the person who is diligent is able to provide for their financial needs. Proverbs 10:4. Another reference is in Proverbs 12:24. And this verse says, the hand of the diligent shall bear rule. And the implication there, I believe, is one of influence, one of leadership. and again, Solomon, was a great example of a diligent king. But Proverbs 12:24, the hand of the diligent shall bear rule. And then Proverbs 12:27 is yet another reference. The substance of the Diligent is precious. And this has the idea of laying aside in a way that you don't lose what you have laid aside. And we will be touching on that a bit later.

Many people are anxious or worried about their money

Proverbs 12:27 and the fourth reference that I want to mention, actually the fifth, including the one that you mentioned, Roxanne, this would be Proverbs 13 and verse 4. The soul of the diligent will be fully satisfied. And to me that speaks of peace of mind. So many people are anxious or worried about their money. Well, I have enough money at the end of the month. Or is there more month at the end of my money? or am I going to see a major downturn in the market? And how will I deal with this? We want to consult the Lord about our plans, but diligent planning is so important. Those references again. Proverbs 21:5, Proverbs 10:4, Proverbs 12:24, Proverbs 12:27 and Proverbs 13:4.

Awareness and Living Trust webinar on Tuesday at 6pm Central

And now Roxanne, the answer to the $64 question, the, well, Awareness and Living Trust webinar will be on Tuesday.

>> Jane: The 15th at 6pm Central.

>> Don Hawkins: Okay, Tuesday. And I will make a note of that in my notes here. Tuesday the 15th, you can set that up at 6pm Central Time, 5pm Mountain Time, 4pm Eastern Time, and you can sign up for that on the webinar tab at his faithful stewards.com Much more about the whole subject of building a financial plan with Roxanne intermuel of hisfaithful stewards.com we'll be right back. Crossflix a complete multimedia platform at your fingertips featuring faith based shows for the entire family, plus an amazing library of interactive online Bible courses such as Revealing the Secrets of the Hebrew Bible.

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Only 10% of Christians will die with no will, Sat 7 says

>> Don Hawkins: Christians will die with no will. Only 10% have up to date estate plans, virtually guaranteeing that probate courts will sort out their affairs. What does being a wise steward of God's resources mean? The Bible has a lot to say on the subject. Sat 7 offers a biblical estate planning seminar or webinar that takes the mystery out of wills, trusts and estate planning. To learn more, visit sat7usa.org Plan the.

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>> Don Hawkins: SAT7's new president, John Cernelia.

>> Speaker H: Our vision is to see a growing church in the Middle east and North Africa, confident in Christian faith and witness, serving the community and contributing to the good of society and culture.

>> Don Hawkins: To learn more or support this ministry, visit sat7usa.org Toni King on her book the Maze of Medicare.

>> Toni King: I looked up on the Internet how many books have biblical in regards to Medicare, and there was zero. And then God brought you into my life and you helped me write the Maze of Medicare because we took Medicare and put scripture with it. It because people are stressed. They don't know what to do, where to turn.

>> Don Hawkins: You can order the Maze of medicare@, tonysays.com that's T O N I tonysays.com we're back on encouragement Live with Roxanne Intermule of his faithful stewards.com want to encourage you to pray for Brad and Nikki Smithart. they're part of our team. Brad, in fact, produced this music you're listening to, and you can Google Brad Smith art and find out how to order some of the music that he has produced. I want you to pray for both of them and also pray for Donna and for Sam and for Serita. All three of them dealing with some major health issues. as is Brad right now. He's been dealing with some health issues for quite some time. And Roxanne, intermul back with us tonight on the program, as we talk about planning, building a plan, building a, a spending plan and building an investing plan, all of those kinds of things.

There's a biblical balance between being diligent to plan and trusting God

now, Roxanne, I think problems arise when we rely solely on our own understanding in our planning and we fail to consult God. Help us get the balance in this.

>> Jane: Sure. I think there's a biblical balance between being diligent to plan and trusting God to guide us so that our plans are consistent with his direction. I also think of a verse in James 4 that warns us against making plans without consulting God, realizing that ultimately he's going to be in control.

>> Don Hawkins: Yeah, last Sunday I preached on Proverbs 3, and, that reminds us in verses 5 and 6 to trust in the Lord with all our heart and lean not on our own understanding, which is sort of exactly what James 4 was talking about. We're to acknowledge him in all our ways so that he can direct our paths.

>> Jane: Yeah. And in fact, Proverbs 27:23 also reminds us to be diligent to know the state of our flocks and our herds. I Mean, that's the kind of financial planning that was done in Solomon's day when that was written. And I think it's important that we understand what financial planning is and how it relates to each of us.

>> Don Hawkins: Yes. And this would be a great time for me to remind you that some of you need to talk with Roxanne about your financial planning. And you can do so in confidence and without a charge or cost. And she's not going to strong arm you into buying something. I, want to remind you you can schedule a free time to talk with Roxanne on her website, his Faithful Stewards.com. just follow the link on the website, set up a good time to talk or call the office to set a time. And while you're at it, check in on that, upcoming webinar, which as we have discovered is on Tuesday, July 15th. That's this coming Tuesday, 6pm Central Time, 5pm Mountain Time. And there is a tab at the website, his faithful stewards dot com. And if you, need have some questions about wills, about living trusts, this would be a great place. I know that you'll be able to ask Roxanne questions on that. And that's very important.

A financial plan is a comprehensive evaluation of your current financial situation

Roxanne, we've heard a lot of people talking about having a financial plan. I'm not sure we've ever defined that. What exactly is a financial plan?

>> Jane: Well, a financial plan is a comprehensive evaluation of your current financial situation along with a map to help you meet your own goals. It typically includes detailed strategies for budgeting, saving, investing, retirement planning, and risk management.

>> Don Hawkins: Now if you're working with someone who wants to create a financial plan, which is I know what you do, to a great degree. Where, do you start?

>> Jane: Well, we always start with the end in mind because if you don't know where you're going, you're not going to get there.

>> Don Hawkins: Good point.

>> Jane: So what is a person's goals? I mean, we need to look at short term, medium term and long term goals. And once we know where we're headed, we can chart a course. when we work with people on these, we encourage people to set these goals according to God's priorities and how they feel God is leading them.

>> Don Hawkins: Now, after you've determined your goals, what's the next step?

>> Jane: Well, the next step is to assess where a person is currently at. I mean, what are their assets, their debts. and we look for, and we have to look at what kind of debts they have as well. some kinds like credit card debts and car loans. Need to be cleared, you know, as soon as possible. But things like mortgages need more careful evaluation. So we strive to get a complete picture of everything that's in play for the person we're working with.

>> Don Hawkins: It's interesting. I was listening to a secular program last night, on finances, and I heard the terminology good debt and bad debt. would, would, good debt be something, that is an appreciating asset? For example, a mortgage on a home that fits, within your budget, as compared to having overwhelming, credit card debt at 19, 20% interest?

>> Jane: Well, I would agree with that, too. The only thing is, sometimes mortgages we have to look at a little differently. They do have an appreciating asset, which often that can be what I would call good debt. But there are some instances where it might not be good debt. So it's not a hard and fast rule on that, but I would say, yes, conclusively. Your credit cards, your car loans, things like that are, are, what I would categorize as bad debt.

You start with clear goals and then you assess and look at spending

>> Don Hawkins: All right. We've talked about goals. We've talked about figure out where you are. It's hard to know where you're going if you're not, knowing where you are. You might be like the cowboy who jumped on his horse and tried to ride off in all directions at once. So now let's assume you're helping somebody create a financial plan. You start with those clear goals. Then you get a full, clear, comprehensive look at their current situation. what's the next step? Once you have those pieces in place, where do you go?

>> Jane: Well, after those pieces are set, the order, of other pieces isn't quite as important, but it's important that we cover everything. And it's important to realize that life still happens and things often change through time. So, you know, we're drawing up a map, but we have to remain flexible with the knowledge that things often change and our plans can adjust and change with those. Sometimes the Lord changes our direction. I mean, nothing is written in concrete. It just gives us a direction. So the next thing we do is to assess and look at and plan spending. sometimes people have never tracked their spending, and they really have no idea where their money goes. to get a handle on that, we advise people to track their spending for a few months, and then we work up a spending plan that makes sense for them.

You can schedule a free time to talk with Roxanne through her website

>> Don Hawkins: Want to talk more about a spending plan? Because I think a lot of people, maybe have not given a lot of thought to this. It's just sort of okay, money comes in, it goes out out. A friend. I want to remind you, as we talked about earlier in the show, you can schedule a free time to talk one on one with Roxanne, through her website, his Faithful Stewards.com. there's a scheduling tab there. you can set up a time, and she doesn't charge for this. And the link, for scheduling. And if you would prefer not to use that link, you can use the phone number to schedule a time. His faithful stewards dot com. That's also the time you can the location you can check on that upcoming webinar on will, awareness and trust. That will be on Tuesday the 15th at 6pm Central Time.

A spending plan starts by looking at your whole household income each month

So what exactly is a spending plan, Roxanne? What does it look like?

>> Jane: Well, a spending plan starts by looking at your whole household income. How much money is coming into the household each month. Because you have to know there's your starting point. You have to know that first. Then it breaks down the expenses between categories. I mean, we actually have a, spending plan worksheet on our website that people can download for free. They just go to hisfaithful stewards.com and hit the link for the free spending plan worksheet. Just have to scroll down to the section about services and there's a button right there for it. the spending plan is something that we often. Excuse me, I'm sorry. We often have revised to accomplish a person's goal. But you have to start somewhere.

>> Don Hawkins: Yeah. And getting that starting place. And I think for some people there is the law of inertia. They just haven't started that planning, spending, plan. And this would be a great weekend friend for you to seriously give thought and prayer to this. Maybe sit down, husband and wife together. Make a list. Okay. These are the sources of money that comes in. Maybe it's Social Security. maybe, it's retirement income. maybe it's a, job. maybe a couple of jobs. Maybe a side hustle and then maybe jot down. Okay. we're paying so much for our housing. maybe it's a mortgage. Maybe it's rental. paying so much on. Maybe you do have a few of those leftover credit cards. You're working those down. put all those expenses down, medical expenses and that. That would be a great strategy and a good way to get some help. As Roxanne mentioned, there's a worksheet, on spending plan, and it's found at his faithful stewards.com so Roxanne, do you find that a lot of people have done this, that they have spending plans and so they know what they're spending?

>> Jane: No, actually, very few people have these in place. I mean, when I give our worksheet to clients to fill out, they're often really surprised at how much month they, you know, how much their monthly costs are. Frequently someone will tell me that they don't have very many expenses and they don't spend very much. They only need like a thousand dollars a month or something. Yeah, but after they do the worksheet, I've seen people have to double, even triple or even more the number of what they thought they needed to pay bills because they really had no idea. And that's why it's so important to track and plan around spending, because without that, money just seems to slip away down the drop.

>> Don Hawkins: Some of you are saying, Roxanne, you're telling me exactly what I'm seeing going on. So tell us about some of the other things that would go into a spending plan.

>> Jane: Well, if people don't have an emergency fund, then they need to start saving for one right away. they need, you know, they need to plan for. To save regularly to fill that emergency fund up. I mean, an unexpected expense can wipe out a person's plan for a long time if they don't have some save funds to cover. we recommend that people start with about 1500 in an emergency fund. After that, we make a plan for paying off any bad debts.

>> Don Hawkins: I can hear some of you saying right now, I just don't have an extra fifteen hundred dollars laying around that I could label emergency fund. But you, you need to start somewhere, wouldn't you say, Roxanne?

>> Jane: Yes, I agree. If. And that's just it. And that's why we would put it in this spending plan, because, you know, maybe you can only say 50 or 100 or $200 a month. Well, then you start saving that until you get to that point.

Any kind of debt not tied to an appreciating asset is bad debt

>> Don Hawkins: Now, what would. we talked a little bit about good debt and bad debt. let's go back to that for a minute and talk about what do you mean by bad debts? Help us understand that.

>> Jane: Well, any kind of debt that is not tied to an appreciating asset is not good debt. For example, when people take out car loans, you know, cars depreciate, and the interest on those loans can often increase the amount that they pay by over 20%. that's bad debt. And credit cards are another example of bad debt. there are other kinds of Bad debt, but those are the most common.

When we talk about bad debt, we assess it differently than good debt

>> Don Hawkins: All right. Now, in contrast, what would you consider to be a good debt?

>> Jane: Okay, well, when we start talking about things like mortgage, we assess that kind of debt differently. First, you've got that appreciating asset connected to it. So we look at the interest rate on the mortgage before determining whether it should be paid off as fast as possible or whether it would be better to invest extra funds someplace that is earning higher interest than the mortgage. I mean, a lot of people have older mortgages now that are of like 3 or 4%. And those are. That's very good debt. And sometimes it's more cost effective and better for your financial situation to be investing extra money in something that might earn 8% or more versus paying down a mortgage. It's only at like 4%. But mortgages don't fall under bad debt.

>> Don Hawkins: Yeah, and I've heard you actually mention the fact that, some of the instruments that you have available and could talk with people about will actually earn a person between 8 and 13%. And so if you have a 3% or 4% mortgage and you're paying that, and you're able to an instrument that will earn you 8 to 12 to 13%, that might be a wise thing. And if you want to talk with Roxanne about that specifically, you can go to her website, his faithful stewards.com set up a time to talk with her. Call the number on the website, his faithful stewards.com more after this.

Find out what you need to know and do to protect your heirs at a free webinar

>> Steve: There are only two ways that your affairs will be settled after you pass away. Your way or the government's way. For anyone without a will or trust in place, the government will settle it, through probate. So we must all ask ourselves, do I want the government to decide how my minor children get their inheritance and where my assets go and then charge my heirs probate and court fees to make that happen happen, or do I want to protect my family from probate and steward the resources that God has entrusted to me by determining how the assets that I leave behind will be used. Find out what you need to know and do to protect your heirs at a free webinar with his faithful stewards. This free webinar will discuss wills and trusts and help you understand it all. Go to hisfaithfulstewards.com and find the link for webinars. There's a place there under webinars where you can sign up app that's hisfaithful stewards.com and the link to webinars his faithful stewards.com when you need to consider.

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>> Don Hawkins: Sagi Lukas grew up in South India without Christ. But when he trusted the Savior, his Hindu family disowned him. His witness brought his entire family to Christ and led to the founding of Mission India which trains hundreds of village missionaries each year year. For a free copy of Sagi's biography Transform for a Purpose and to learn more about Reaching Indians Ministries International, visit remi.org that's remi.org I was so high.

>> Dr. Rex Rogers: And I was so drunk that I couldn't walk. I couldn't even stand up. I collapsed in my garage and then I awoke two days later in the hospital. I heard about Teen Challenge. I came here and this place has shown me that it truly does care. That's when everything changed.

>> Toni King: At Adult and Teen Challenge we provide hope and healing for a new drug free future. And you can find the center nearest you at 8:55 and addiction or teenchallengeusa.org Freedom from addiction starts here.

Don Hawkins: A spending plan should include investments and retirement planning

>> Steve: Welcome back to Encouragement Live. Our toll free number is 855-586-LIFE. Here again is your host Don Hawkins, author of Master Discipleship Today.

>> Don Hawkins: And we're talking about having a plan of building a spending plan with Roxanne Intermuel of his faithful stewards.com and Roxanne has helped a lot of people develop a spending plan which includes a variety of things. It includes your income, it includes your outgoing, it includes your savings toward retirement. it will include good debt and bad debt for most of us. And I would assume Roxanne, it would also include a ah, plan for paying off that bad debt. Wouldn't that would be a normal assumption, wouldn't you think?

>> Jane: Yes, it would be.

>> Don Hawkins: So now what else would you include in that shall we call it spending plan?

>> Jane: Well it's actually more of a financial plan that I'm thinking of a spending plan as just one piece of that financial plan. so one other thing is when we look at different insurances that might be needed, we do that as well to determine what the individual or the family you're working with might need. we help them do some price checking on some insurances if they haven't Done that for a while. Then we help them put missing insurances in place. When we're looking at a family with children, it can be especially important to have licenses, insurance. If the Lord calls a parent home unexpectedly, how will that family pay their bills with the parent gone? If it could jeopardize their home or their standard of living, then life insurance is critical.

>> Don Hawkins: And you know, we've been reminded just by that disaster that took place in, down in Central Texas of the fact that we are not to assume about tomorrow because we don't know what a day will bring forth. Danny, Webster, checked out our, statistics, the total fatalities, 129, as of the top of this hour, and approximately 170 people are still missing. We want to pray for those individuals, lift those up in prayer. But Roxanne, to me that's a great reminder of the importance of making sure that you have a will, you have a living trust. And, there's an opportunity to learn more about that. this free webinar about will, awareness and living Trust, that's at 5:00pm this coming Tuesday, July 15th 15th. and that would be at 6:00pm Central Time. there is a tab where you can sign up for the webinar at his faithful stewards dot com. Once again, that's his faithful stewards dot com. by the way, that website is also where you can schedule a free time to talk with Roxanne about your own personal financial plan that, as Roxanne mentioned, should include a spending plan. Now Roxanne, this sounds like good biblical planning. It fits in with the reference you mentioned in Proverbs 27:23. That reminds us to be diligent, to know the state of our flocks and herds and in our case, our spending plans, our retirement accounts, our income and our outgo. So what comes after this?

>> Jane: Well, next we have to look at investments and retirement planning. We look at what goals the investment is going to serve and the different savings vehicles that are available. we at his faithful stewards also specialize in helping people invest their money for retirement in accounts that are not in the stock market. And they never lose their principal. They're guaranteed never to lose the principal. So we work with plans that in the past now have averaged 8 to 13% over the last 10 years. Now, the past doesn't guarantee the future. It's just the only thing we have to work with. but we work with ones that have had at least that average of 8%. And they've averaged 8 to 13. but we also help people look at other types of investments that are also not high risk. Risk.

>> Don Hawkins: Yeah, very important to look into those. And Roxanne would be glad to talk with you individually about those. And if you have a question tonight about a spending plan, maybe about, an overall financial plan, the number to call is 855-586-LIFE. That's 855-586-5433.

You have very strict criteria for companies that you recommend to investors

And Roxanne, I've heard you mention this before, that you have a very special strict criteria for the companies you work with. And, there are three things as I recall. now m. The laws of repetition, laws, of learning are repetition, repetition, repetition. So maybe you could remind us of the criteria that you use for companies that you will help people invest in.

>> Jane: Yes, and I will tell you because there's a lot, you know, there's a lot of similar type of vehicles out there, but they, but they don't meet our criteria. I mean, the first one of those is the. As far as I can tell and as deep as I'm able to dig, the companies that I'm working with are being biblically responsible in how they're making their money and how they're using it. the second thing is we look at their averages over the last 10 years and the policies we're looking at that we're considering using, they have to have averaged 8% or more over the last 10 years. the ones we work with the most are in that 8 to 13% category. And then the last thing has to do with financial strength. the financial strength of that company has to demonstrate that they actually taking into account all of the assets. All of the assets and all of the obligations they have, even the obligations that they've moved into other sub companies. When that's all said and done, we're looking for companies that have higher assets than they do have obligations.

>> Don Hawkins: And you've mentioned the fact that there are some companies that will offload certain liabilities into sub companies so that those liabilities don't show up and their ratio look good. that is something that you have, understood how to research. But I would think that's not something the average person is very good at researching.

>> Jane: No, it's not something that's easy to find. Most people will rely on some of, you know, some of your major rating organizations, but the major rating organizations are not digging any deeper than the spreadsheets that they see within the company. And so they don't see all of those assets that have been moved offshore or into other sub entities?

>> Don Hawkins: Offshore even. Okay. So important to remember what Roxanne looks at for, companies that they recommend investing in. Are they biblically valued? Do they have consistent values that are tied into biblical values? do they have. They basically, gained an average of 8% or more over the past 10 years. And do they demonstrate financial strength even through the ratios that include any subcategories?

Roxanne: Tax planning plays a key role in choosing retirement accounts

Roxanne, there is one category that we have not mentioned yet tonight, and I know people don't like to hear the word tax, but does tax planning play a part in looking for the kinds of accounts you recommend?

>> Jane: Yes, absolutely it does. One of the saddest things that I see when people come to me, you know, all the time, is people were not advised, well, about Roth accounts. A Roth account is the only kind of account that will not have to be taxed when it's withdra. So basically all of your growth in that account will be tax free. So the money going into a Roth account's already been taxed. But that huge benefit from the Roth account that you're never going to have to pay taxes on what comes out is critically important for retirement. It can be a real value to have funds that you don't have to pay taxes on when you get to your retired years. I mean, too often people's financial planners are so focused completely on the tax savings for today, and they totally overlook the importance of having some tax protection their retirement like a Roth offers.

>> Don Hawkins: Seems to me that, maybe this is a generalization, but if a person has a normal ira, not a Roth, but a normal ira, the, the most prudent thing to do would be looking at rolling that into a Roth ira. Even if they would have to pay some taxes when they do that in order to avoid taxes, 5 years, 10 years, 20 years down the road on a much larger amount. Would that be an accurate assessment?

>> Jane: it depends on a person's age, because there is a five year look back that it has to be in there for five years in order to maintain that tax protection. So if somebody's going into retirement, it's probably a little late to do that, unless they just want to take some of those funds, you know, just some of the funds and put them over there for growth. but if somebody's younger to move some of that into a Roth to roll it over, even if they do it, you know, piecemeal over the years and pay those taxes, it's really important to at least maximize what you can get out of a Roth.

I would think a financial plan ought to include something about giving

>> Don Hawkins: Now, I want to add one other thing to our list of, issues that we're covering here. I would think a financial plan ought to include something about giving. Do you typically, work with people, especially people who, have Christian faith, about the importance of giving in a financial plan?

>> Jane: Well, yes, when we put together the financial plan, that's actually the first category we have on our spending plan is giving. Now, we're not, you know, it's not our job to pressure people into doing anything in regards to that. We just do bring that to people's awareness and call their attention to the fact that, you know, that that is part of the Christian lifestyle. And so if they, you know, we've added it to the spending plan so that that doesn't get overlooked.

>> Don Hawkins: Yeah. My experience as a pastor has been if people don't plan to give, they often fail to give. And, so, I think that's a very appropriate thing.

Last thing is the estate planning. I mean, a lot of people think that estate planning is only for the wealthy

Now, is there anything else that would go into a financial plan?

>> Jane: Well, yes. I mean, the last thing is the estate planning. I mean, a lot of people think that estate planning is only for the really wealthy, but nothing can be farther from the truth. if when we graduate to heaven, you want to leave the resources that God entrusted to you in a way that honors God and the way that you feel like he would have you leave them, then that has to be spelled out in a place plan. Otherwise the state law is going to determine where things go and the courts are going to be in charge of that. So, you know, if you wanted to leave money to a ministry, it's never going to happen.

>> Don Hawkins: M Very important to keep in mind and remember, Roxanne, and her team at His Faithful Stewards are hosting a free webinar about will, awareness and living trust. Fits right into what we're talking about here. That will be at 5pm this coming Tuesday, Joe. July 15th. That's at 6pm Central Time, 5pm Mountain Time. There is a tab on the website, the webinar tab at his faithful stewards.com that is also the place where you can go to, sign up for a time to talk with Roxanne. you can follow the links on the website, to the scheduler to set up a good time to talk. and there is no charge for that conversation. Conversation or you can call the office to set up a time. The link to schedule, the phone number are both located on that website. His Faithful Stewards.com Again, that's His Faithful Stewards.com and when we come back from our break, we're going to take a phone call or two. And so I want to encourage you, if you have a question for Roxanne, this would be a good time to get that call in. The toll free number is 855-58654.

Chuck urges listeners to pray for those affected by Central Texas flooding

Once again, encouraging all of our Encouragement Live listening family to pray for those who are affected, those who, families of those who lost their lives in the terrible flooding that happened the early morning hours of the 4th of July, down in Central Texas, Kerrville, Kerr county, and even expanded to other areas of, Central Texas. There we, appreciate very much your remembering those in prayer and there are ways that you can give to help meet needs there and be sure that if you are giving, you're giving to a legitimate charity. Our number again is 855-586-5433.

>> Toni King: Do you have an extra car taking up valuable space in your driveway? Let Encouragement Live. Take it off your hands. It's easy, free and best. Best of all, tax deductible. Get your driveway back and keep Encouragement Live rolling so more people can bridge the gap between their faith and everyday life. Mention Encouragement Live when you call 855-500-RIDE. That's 855-500-RIDE or encouragementlive.org what do Chuck.

>> Don Hawkins: Swindoll, David Jeremiah and Erwin Lutzer have in common? They all train to preach God's word at Dallas Theological Seminary. And you can train at DTS too. If you've been called to preach or teach God's word, find a degree or course that's right for you on one of our campuses or online at dts.edu Dallas Theological Seminary, where they teach truth and love well. Visit dts.edu.

>> Jane: The older people grow, the more important it is that they have savings that are not at risk in the stock market.

>> Don Hawkins: Here's an important warning from roxanne endermule of hisfaithfulstewards.com many people in their 50s.

>> Jane: That have all their savings still in a 401k or some other market based account that is fully at risk of loss.

>> Don Hawkins: Roxanne and her team offer practical financial counsel to people from all age groups.

>> Jane: It could be that they need to start saving for the future in retirement. Or maybe they've already done those things and they just need to be good managers of what God's given them and get their money to where it can grow well but won't be at risk of loss in the stock market. Or maybe they need to get a will or a trust in place to protect their family from the cost and stresses of probate.

>> Don Hawkins: You can schedule a free and confidential time to talk with Roxanne at her website, his Faithful Stewards.com. just follow the links on the website to set a good time to talk or you may call the office to set a time. That's his faithful stewards dot com.

Do truckers need to have a financial plan? Yes, they do

good to have you with us tonight on Encouragement Live as we move into our final segment. And we're delighted to have those of you now listening over Lonesome Road Radio. Roxanne Intermuel, I m may not have told you about this new release of our program on Tuesday mornings at 8:30am Central. 8:30pm Central. Lonesome road radio has been heard by over 8 million truckers. Now here's a loaded question. Do truckers need to have a financial plan?

>> Jane: Yes, they do. Everybody needs to have a financial plan. If you don't plan, it doesn't happen.

>> Don Hawkins: All right? If you fail to plan, you are planning to fail. Very important to keep that in mind.

I get a lot of questions from young preachers about planning wise

Let's go to the phones. Kenny is listening in Alabama. Good to hear from you, Kenny. Go ahead.

>> Caroline: Oh, I have one question for Roxanne. I have, been a pastor for 52 years and, I get a lot of questions from young preachers that are starting, planning wise. what would be your best suggestion to a young man that's just been called to preach, just been ordained, maybe pastoring his first church and a lot younger than I am. I know what I did, but, I don't know what would be the best course. Some have asked me about opting out of Social Security. So, Roxanne, what's your best advice to a young preacher that I could give to them?

>> Don Hawkins: Great question, Kenny. Thank you, Roxanne.

>> Jane: Yeah, thank you, Kenny. I will tell you, it's a little bit of a challenge to answer the question because the variables can be quite different from one church to another as far as what churches are providing. And so. But the one thing, you know, the one thing I would advise anyone is first get that emergency plan in place, get those emergency funds there, have them ready to go, and then start to do some saving. Then look at the, look at the insurance needs for your family. If they're, you know, if you've got a single gent, it's going to be, you know, a different, a different look than it is if you're a gentleman with a family. The gentleman's got a family. Then, you know, taking a look at life insurance Right. About that point is also really important. You know, you just don't know what the future holds and when the God's going to call us home.

>> Caroline: That is right.

>> Don Hawkins: Yeah. You know, another thing that occurs to me that's very important and churches, many churches are aware of this, but not all. and that is that you can designate a place portion of a pastor's ministry under parsonage allowance. Now, I'm not a tax professional, but I've, I've talked to a lot of them on the radio, and Roxanne, is one of those individuals who knows about this kind of thing. But the church has to designate the amount of a parsonage allowance. What that does is if you're on Social Security, you will still have to pay Social Security, but the reality is you will not pay income tax on that portion that's designated. And I would encourage you, if you have specific questions about that, talk with your tax professional. but, Kenny, I would, I would think, and Roxanne, you hopefully would agree with this, that that would be something that as a church considers calling a pastor. They would take a look at that and make sure they understand what's the best thing they can do for the pastor.

>> Jane: Yes, I think so too. And it's also, it is important, like you said, I think, for the pastor to have a conversation with a tax person. It's like, I know little bits and p about some of these things because I work with people on them. But the fact is, there's a lot of things for pastors that I become aware of when I work with pastors that I hadn't previously known that, kind of varies from state to state and situation to situation. So it's really important that a young pastor early on connect with an accountant to be sure that they are maximizing everything they can to their best ability.

>> Don Hawkins: You know, it was about 40 years ago that I, was in ministry and connected up with Keller and Owens in Kansas City, and they've worked with me. They've also worked with Encouragement Communications, and Greg Owens has been a great friend, and I, I just so much appreciate him. And he's, somebody that has, actually listened to my radio program, Roxanne, while he was working on people's income tax during tax season. And, that's a pretty encouraging thing, to know that you're actually ministering to somebody who may be working on your income tax at that time.

>> Jane: Yeah.

I pray for Kenny's ministry and also for young pastors

>> Don Hawkins: Kenny, I'm so glad you called us, and I want to pray for you and thank, The Lord for your ministry and also pray for those young pastors. Heavenly Father, thank you for the opportunity to talk with Kenny tonight. Thank you for his years of faithful service to you Lord, for the impact that he's had on so many lives for Christ. And Lord, I pray for young pastors that he may be encouraging and mentoring and working with, that you would help them to get good wise financial advice, maybe even some of them need to get in touch with Roxanne and put together the kind of plan that would help their family get off to a good start. And Lord, thank you for the ministry that Kenny continues to have. May your blessing rest the on him. And also Lord bless Roxanne and strengthen her and encourage her as she helps many people with these important issues. I pray this in Jesus name. Amen.

>> Caroline: Amen. Thank you.

>> Don Hawkins: Thank you Kenny. Good to hear from you. Bye bye indeed.

>> Caroline: Bye.

>> Don Hawkins: 855-586-5433.

Rock star: An estate plan can help prevent family fights over inheritance

And we're talking about families doing financial plans. And rock star, we talked about that final thing, the estate plan. And I think we've all heard about families that have just had terrible fights over an inheritance. can an estate plan actually help prevent that?

>> Jane: Yes, I mean it doesn't guarantee it but if your wishes have been spelled out clearly in a trust row, well that can go a long way in helping prevent family fights. you know, if it says exactly what's what your wishes are, if they respect that, then that you know, there shouldn't be too much fighting about that. And in a trust the courts aren't even involved with a will. The courts run the process at the direction of your will. Consequently, wills are usually pretty slow to settle. But keep in mind that your heirs are going to have to fund that entire process up front before they can get anything out of it. But nonetheless you can do a lot to have peace in the family after you pass by spelling out how you want things to go.

>> Don Hawkins: Now it's important to keep in mind, mind that if you have questions about a will, maybe you don't have a will and you need to have one. Or you might want to look at the alternative of a living trust. you can get involved in that webinar on will awareness and living trust. It's on Tuesday the 15th of July, this coming Tuesday at 6:00pm Central Time. That would be 5:00 o' clock on Mountain, time. would be 7:00 Eastern, time time. but you can sign up at his faithful stewards.com and there is a tab on there for the webinar. And even if you already have a will, maybe you've never even thought about living trust, but that might be an option to consider. and that is Roxanne, you're not trying to sell people on one or the other. but people need to have one or the other of these two instruments in place. Wouldn't you agree?

>> Jane: Yeah. And that's part of what we look at in the webinar is you know, who needs what. So you and you basically do your own determination through the webinar.

M HFS helps people set up a financial plan directly

>> Don Hawkins: Now, when you help someone set up a financial plan, what parts of the plan does his faithful stewards actually, help set up directly?

>> Jane: Well, besides supporting the full processing, you know, the plan of process, the process of planning M HFS helps us several levels. I mean we help with implementing the insurances and wealth strategies that utilize insurance. We also work with safe investments that have averaged 8 to 13% over the last 10 years and are guaranteed never to lose principle in a market downturn. We also offer a line of pre1933 gold and silver coins that you know, don't have to be reported to the government. We also help people with estate planning and having their affairs in order. And lastly we work with a specialty trust that can eliminate capital gains taxes and reduce, reduce self employment taxes by 90% or more. which is a really good fit for people who are paying five digits or more in taxes.

A specialty trust can reduce self employment taxes by 90% or more

>> Don Hawkins: Maybe we ought to drill down on that last aspect a little bit because I can't help thinking we may have some people who are paying a huge amount in self employment taxes. You're talking about a 90% reduction. that almost sounds too good to be true, but in reality it isn't because I've heard you talk about it before. Give us a little bit more comprehensive look at that aspect of this planning.

>> Jane: Well, we work with a trust that is about 75 years old. it actually has a copyright on it and that's one of the reasons it's not very widely distributed. but it's a 75 year old trust that utilizes a specific IRS code that actually eliminates a lot of those taxes and makes them non taxable. And so with self employment it can be 90% or more. To be quite honest. It's you know, and 90% is kind of the low end.

>> Don Hawkins: Yeah. I would encourage you, if you want to talk with Roxanne about this, you may be in that self employment tax bracket where you're spending more money with the government than you would really like to. You can set up an opportunity to talk with Roxanne. It will not cost you anything. She's not going to twist your arm about anything, anything. but you can learn more about these things. She mentioned the pre1933 gold and silver coins, the estate planning options that she has, this specialty trust that can eliminate capital gains taxes and literally reduce self employment taxes by 90% or more. And again, if you're paying five digits or more in taxes, this is something that would benefit you to at least learn about. And you can schedule a time to talk with Roxanne at his faithful stewards.com, go to the website. You'll find a tab there for scheduling. Or if you are not one of those people who is, real used to, working with those scheduling, pieces of software, there, is a phone number there and you can call that number.

All investments that you recommend have to fit three criteria, Roxanne

Roxanne, I want to come back to one thing in closing. That is those three criteria that you mentioned that you feel like are so important that all the investments that you recommend have to have these, fit these three criteria.

>> Jane: Sure. the first one is, as far as I can tell and as deep as I'm able to dig, the companies that we work with are biblically responsible in how they're making and using their money. The second thing is that their averages over the last 10 years, when we look at them, those averages have been 8% or more. What we're working with has been 8 to 13%. And then the third one has to do with the strength of that company. That company has to have greater assets than they have obligations. And that has to take into account not only what's on the books that normal rating companies look at, but we use an organization that digs much wider and deeper to everything that they owe, including things that they have moved off of the books and moved into sub entities and offshore accounts and things like that. And so when all of that is considered, they still need stronger assets than they have obligations.

>> Don Hawkins: Keep in mind the scripture we mentioned at the beginning of the program. Proverbs 21:5. The plans of the diligent lead to profit. Roxanne, thank you so much for talking with us about the importance of these plans. Thanks for being with us.

>> Jane: Thank you.

>> Don Hawkins: And thank you friend for joining us tonight for encouragement live.