God Owns It All

Rob West: What if the greatest shift you could make in your financial life didn't start with budgeting, investing, or earning more, but with surrender? Hi, I'm Rob West. We don't usually think of surrender as a financial word, but Jesus does. Today, we're talking about the life-changing truth that God owns everything, and how that single conviction can transform the way we live, give, and steward our resources. Then, it's on to your calls at 800-525-7000. This is Faith and Finance on American Family Radio, biblical wisdom for your financial decisions.

When we talk about money, we tend to ask familiar questions: How much do I have? How much do I need? Am I doing well? These are common questions, but they're not the first questions scripture asks. From the very beginning, scripture establishes God as the owner. Before humanity ever managed a garden or named a creature, God formed, filled, and ruled creation. Psalm 24:1 later declares it plainly: "The earth is the Lord's and the fullness thereof." Simply put, God is the owner, and we are the stewards.

For many of us, that's a familiar idea, but familiarity doesn't always mean surrender. We may believe God owns the universe, but we instinctively act as if we built our lives with our own hands. We say things like, "I worked for this," or "I earned this." But scripture adds a crucial line: "It is He who gives you the power to get wealth." That's in Deuteronomy 8:18. Even our ability to work is a gift from God.

Jesus picks up this idea in the parable of the talents in Matthew 25. The master entrusts resources to three servants: two invest courageously; one buries what he's been given out of fear. When the master returns, he doesn't praise the servants for increasing his net worth—he praises their faithfulness. That's a key detail. God doesn't measure stewardship the way the world measures results. The world defines success by outcomes; God defines success by trust and faithfulness.

If God owns everything, then we are not owners—we're managers. The Greek word scripture uses for steward, oikonomos, means household manager. A steward manages resources they didn't generate, for purposes they didn't define, under a master they serve. That may sound restrictive at first, but in reality, it's freeing. Because if I'm not the owner, then I'm not the ultimate provider, and I'm not the ultimate protector. Like Ron Blue always says, "If God owns it all, you can't lose anything." Ownership carries weight; stewardship carries trust.

And when we truly embrace stewardship, everyday choices become opportunities for worship. Budgeting becomes an act of aligning our desires with God's priorities. Giving becomes a reflection of the generosity we've received. Planning becomes obedience instead of anxiety. Even investing becomes a way of multiplying what belongs to the Lord, not to secure independence from Him. There's a famous line from the Puritan preacher Thomas Watson: "What we keep, we may lose. What we give to God is kept forever." It's a reminder that ownership is temporary, but stewardship is eternal. "We brought nothing into the world," Paul says, "and we can take nothing out of it." That reality isn't meant to discourage us—it's meant to liberate us. When we stop clutching what we cannot keep, we're free to invest in what we can never lose.

Of course, this raises the practical question: If God owns everything, what does He expect of us? Well, Jesus answers it simply: "One who is faithful in very little is also faithful in much." Faithfulness is not about size; it's about surrender, and surrender always begins in the heart. When we embrace the conviction that God owns it all, we gain two things the world can't offer: humility and hope. Humility, because we stop boasting in our own accomplishments; hope, because we realize we're not carrying the burden alone. God equips, God guides, and God provides.

So let me ask you: Where is God inviting you to shift from being an owner to a steward? Is it in your giving? Your planning? Is it your savings, your lifestyle? Or maybe in the quiet belief that your security depends more on markets than on the God who owns the cattle on a thousand hills? Stewardship isn't about God getting something from you—it's about God doing something in you. It reorders the heart so that money serves its proper place: not as a master, but as a tool.

If this idea resonates with you—that God owns it all and stewardship begins with surrender—I'd love for you to explore it further in my devotional, Our Ultimate Treasure: A 21-Day Journey to Faithful Stewardship. It's available now at faithfi.com/shop. You can order a copy for yourself or place a bulk order for your church or small group. That's faithfi.com/shop.

All right, your calls are next! The number: 800-525-7000. We'll be right back.

David Wollen: For your walk with Jesus, I'm David Wollen with Haven Today, inviting you to anchor your day in God's Word. John 17 gives us a wonderful window into the heart of Jesus. His High Priestly Prayer shows us how much He cares for His disciples, for the church, and for the world. On the night before His crucifixion, Jesus wasn't simply thinking of Himself; He was praying for us. He asked the Father to protect, to sanctify, and unite His people. But Jesus prayed for something else as well: In John 17:13, Jesus prays to the Father, "I am coming to you now, but I say these things while I am still in the world, so that they may have the full measure of My joy within them." And the joy of Jesus can be yours as you abide in Him. Get more encouragement for your walk with Jesus at haventoday.org.

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Rob West: So glad to have you with us today on Faith and Finance here on American Family Radio. I'm Rob West. Well, as we begin a new week, we started with one of those foundational, fundamental ideas, one that everybody needs to wrestle through and it's often taken for granted, and yet it has huge implications. And it's this idea that God owns everything. It's really the starting place for biblical money management because once we surrender to God this idea that we understand everything belongs to Him, it's not ours, it's a game changer in terms of then how we proceed. Because a steward understands that everything has been entrusted to him or her for their care. The goal is faithfulness, but not ownership.

And there are some implications of this idea that are really significant. It goes without saying, but stewards have responsibilities, not rights. You know, we manage God's resources according to His will as stewards, not our own desires. We don't have ownership rights over what we manage, but we have to be faithful. So we have to make decisions based on what pleases God, which means we have to go back to His Word.

We're accountable! That's a big idea. Romans 14:12 tells us that each will give an account to God for how we manage His resources. Did we use them to advance His kingdom, care for others, and reflect His character, or did we waste them on selfish pursuits? Now, don't get me wrong here—it doesn't mean enjoying God's resources is wrong. I believe part of why God entrusts to us anything He entrusts to us is for our enjoyment, so long as it doesn't become an idol in our lives. As long as we understand who the Giver is, we can enjoy His good gifts for His glory.

Stewards live with an eternal perspective. Instead of focusing on temporal wealth, we invest in things with eternal significance through our giving, even through our investing. And I love what Randy Alcorn says in The Treasure Principle, that small but profound book: "You can't take it with you, but you can send it on ahead."

We have to be faithful in small things—that's a hallmark of a steward. Luke 16:10 says this plainly: "One who is faithful in a very little is also faithful in much." And so we manage even the smallest resources with care, knowing that God sees and rewards our faithfulness. Stewards hold loosely and give generously, and we don't take credit. You remember in Luke 12, Jesus tells that parable of the man who hoards his wealth, focuses on his possessions instead of being rich toward God? He takes full credit for his success; he doesn't acknowledge that it's God's provision. Good stewards, though, in contrast, recognize that everything they have comes from God, giving Him the credit for any success.

Listen, when we live with this idea in mind, it transforms how we approach our finances and our lives. It leads to greater purpose, responsibility, and joy, because ultimately, how we handle money reflects our commitment to Christ and our trust in Him for all things. You may hear this topic today and be like, "Yeah, I've heard that before." This is a big idea; we're going to come back to it regularly because everything begins with the understanding that God owns everything. I hope that was an important reminder for you today. I hope you let that wash over you—I know I did, once again.

All right, we're ready to take your phone calls here in just a moment. So if you've got a question today, now is the time to call 800-525-7000. That's 800-525-7000. Pat Montague in today, ready to take your calls. Whether you're trying to pay off some debt and you just can't figure out how to get it done, maybe you want to give wisely and you're wondering how to do that, or you're thinking about a charitable gift annuity or giving out of your IRA to miss the taxes, let's talk about it. Maybe it's your investments, wondering how to navigate the stock market, especially given what's going on in the Middle East, or maybe you're trying to get that credit score up or think about an inheritance—any of those questions and more: 800-525-7000. Let me begin in Missouri today. Dennis, how can I help you, sir?

Dennis: Good morning, sir. How are you?

Rob West: I'm doing well, thank you for your call.

Dennis: Well, blessings to you all. I have just recently joined FaithFi family, and my... I hope I can explain this. I'm 75. I have about 10,000—about 10,000 in my savings account. And I took out a loan a while back to help my daughter, and she's paying it off. And I've recently bought her a car that I'm going to be paying off, and I have about 5,000 available every month. That's available for me. So, I hope to have the car paid off in seven months, approximately. My question is, once the car's paid off, and everything... my daughter's still making the payments on the loan I took out for her. Should... I don't... I'm not much into doing investing, but I was just going to take the 5,000 that I have available each month and just throw it into savings, rather than going to investing and all that stuff, because I'm legally blind, so I'm not very good on seeing some of this stuff.

Rob West: Yes. Yes, and you're wondering, Dennis, whether that's a good idea, or is there some other question related to that?

Dennis: That's the main thing, is just after the car's paid off, I was just going to throw that 5,000 in savings and leave it.

Rob West: Yeah, Dennis, I love this. First of all, you sound like a really generous grandfather. I love that. And do you have anything in savings currently, or would this be the beginning of your savings account?

Dennis: Well, I have 10,000 in savings right now.

Rob West: Okay, and how much are you spending in a typical month? What are your expenses?

Dennis: Well, that's kind of... that's not really hard, easy to explain. I'm a disabled vet, so I get a VA pension. And the VA pension takes care of all my needs.

Rob West: I see. Okay.

Dennis: So this $5,400 is free. There's nothing really attached to it that I have to be concerned with. It takes care of all my debt.

Rob West: Excellent. Well, here's what I would do. You know, I like this idea of you putting this into savings. I would say, you know, at least for the next 12 months, Dennis, I'd be just piling this into savings and just let it accumulate, and put it in a high-yield savings account—whether you head to a local credit union, or maybe you open an account or have your granddaughter help you open an account with AdelFi Christian Banking. They're a long-time underwriter here of this program, the biggest Christian credit union in the nation. You can learn more at faithfi.com/banking. The reason I mention them is they're Christians, so you know that you're working with a credit union that shares your values as a Christ-follower and supports Christian ministries out of their profits. But also, they have phenomenal rates. So they're offering right now for FaithFi listeners, up to $100,000, 4% for the next 12 months. And, you know, they have a bonus of up to $400 when you open an account by using the code FAITHFI.

But that would be an example of the kind of thing I would do, and let's just let that accumulate. I mean, you'd have $60,000 at the end of the year, but that's great! Because here's the reality: Yes, your bills are covered by that VA pension—and thank you for your service, that's awesome—but if you had a major need or you needed long-term care, you know, we need additional funds there for you to be able to cover whatever happens along the way.

And so I think it's really key for you to be able to go ahead and sock that money away between now and then. So I'm going to suggest that that be your next step, that you go ahead and start putting that money away in a high-yield savings. Again, if you wanted to learn more about AdelFi Christian Banking, you could go to faithfi.com/banking. If you don't use the internet—and I know you said you're legally blind—perhaps get your granddaughter to help you do that, or you can call them. That phone number is 800-347-2228. And if you hold the line, our team can give you that number, 800-347-2228, and you can write that down and give them a call. But either way, I think you're on the right track here, Dennis. Thanks for your call. God bless you.

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Rob West: Thanks for joining us today on Faith & Finance here on American Family Radio. The lines are open. We're ready for you taking your calls and questions at 800-525-7000. That's 800-525-7000. Any financial question today, we're here to answer those. Call right now. Uh you know, I mentioned uh in that last segment AdelFi Christian Banking. Um one of the things we love about partnering with—and this is the merger of AdelFi and Christian Community Credit Union. Uh you may be very familiar with Christian Community Credit Union. They've now come together under one brand, AdelFi Christian Banking. And it's by far the largest Christian credit union in the country. And what we're finding is, more and more of our listeners are wanting to do business with organizations that match their values. Uh just because they feel good that those profits are being used for things that advance the gospel. And uh this is really America's number one biblical banking solution. They bring together this combined entity—130 years of combined experience serving Christians, families, churches, ministries, Christian businesses nationwide. And we're so delighted, um you know, that they're making available up to a $400 bonus for Faith & Finance listeners when you use the code "FAITHFI". You just need to head to faithfi.com/banking. And again, they have that high-yield money market at 4% right now. It's an exceptional rate for up to 12 months, up to $100,000, no monthly service fee. So, it's a—it's a great opportunity to get a nice return on your money, to be aligned with a Christian solution, and get that bonus when you open the account. So, just head to faithfi.com/banking to learn more. We love our friends at CCCU, they've been wonderful partners of this ministry for a long time. All right, let's head back to the phones. By the way, two lines open right now at 800-525-7000. Uh let's go to Georgia. Ed, how can I help you?

Ed: Yes. Uh uh do you hear me?

Rob West: Yes, sir.

Ed: All right. Uh what what uh what my question is, is I have been having a phone call from uh from this collector, I I'm assuming uh collector agent, and for a bill that uh medical bill back to uh 13 to 15 years ago. And I retired now in 2016, and I have not received or heard anything about that bill. And I asked them to send me a copy of the of the bill, and where I see it, and they have not sent me no copy. And that was last year when I requested it, and this year I requested again, and they supposed to call me back.

Rob West: Mm. Yeah. Yeah, so are you wondering just whether they have the right to do that or whether this is a scam, or what is your main question?

Ed: Yeah, if they have 'cause I want I if I owe it, I'll pay it, you know?

Rob West: Yes. Yes, sir.

Ed: Uh but, but uh if well, there're two things, I guess. One, how far back can they go back on a medical thing to, you know, to collect the money? And then, can they garnish Social Security check? 'Cause that's all I make now is just Social Security since I've been retired.

Rob West: Yes. Okay. Yeah, great question here. So, a couple of thoughts on this. Um you know, I think a 13-year-old medical bill definitely deserves a a healthy dose of skepticism. Doesn't necessarily mean it's a scam, but I would say don't send any money or you know, until they provide proof. So, you've done the right thing by asking for written validation uh showing that who was the original medical provider, the amount owed, an itemization of the debt, and why they believe you still owe it. Uh federal law requires debt collectors to provide valid information. And if they're uh refusing to provide documentation, that's a warning sign. Now, if they're just saying, "Yeah, we can do that, it's just going to take a little time," well, that's not to be unexpected. Um but they do need to demonstrate if they are not the original medical provider, and it sounds like they're a collection agency, that they can document how they have you know, purchased the debt or now, you know, they're the one that owns the debt, and therefore uh you would pay them. Uh a debt can exist for many years. Every state has a statute of limitations that limits how long a collector can sue you to collect. Uh in many states, that's somewhere between three and six years, but it does vary uh by the type of debt. They can ask you to pay an old debt. Um and you know, I to your point, you wanting to make good on the obligation if it is in fact yours, that's great. I would agree with that. But I think the key is making sure you, you know, validate uh that it is in fact theirs and that uh this is a legitimate uh organization, debt collector. Um in terms of uh your Social Security, uh you know, if this is simply an old medical debt collected by a private debt collector, your Social Security retirement benefits are generally protected from garnishment. Um the only exceptions to that would be federal tax debts, federal student loans, child support and alimony, or court-ordered restitution. Um so private creditors generally cannot garnish garnish your Social Security benefit. So, um you know, there there may be a caveat to that in the in the sense that um, you know, if it's deposited to your bank account, uh banks automatically protect two months worth of directly deposited benefits. Um but if you've mixed those with your with other money or allowed them to accumulate beyond that, it can become more complicated. But I would just say, you know, this is a 13-year-old debt. I would wait for that validation and then proceed from there.

Ed: Okay. I I I appreciate it because, you know, I I want to go pay my bills and uh pay it, you know? And, you know, I I, you know, I do not want to go I went to the hospital count, you know, with the hospital and checked with them, the financial department, and from 2000 up to now, I owe nothing to them. You know, there is no debt outstanding with them. So, I'm assuming they had to sell the debt to somebody else. I'm assuming. I I don't know. You know, AI is so uh scam, there's so much scam out there, I just want to make sure.

Rob West: Absolutely. And and you're doing the right thing here, Ed, because again, if the uh if the medical provider is saying that account was paid in full or there's a zero balance, I would proceed with a lot of caution before you do anything. Don't admit, you know, to owing it. And uh let's make sure they can provide some documentation that you could also verify with that uh uh original medical provider. And until that time, I'd just kind of sit on that. Hey, we appreciate your call today. God bless you. More calls after this, stick around.

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Rob West: Great to have you with us today on Faith & Finance here on American Family Radio. I'm Rob West, taking your phone calls today at 800-525-7000. Uh in the next segment, Bob Doll stops by. Bob is our resident market guy. You see him regularly on CNBC and Fox Business, he's the CIO at Crossmark Global Investments, an industry veteran, a Christ follower, and uh our uh regular uh contributor here about the markets. As we start off a new trading week today, the markets mixed. The uh Dow Jones uh down just slightly, less than 1/2 of 1%, the S&P 500 and Nasdaq in positive territory. Watching oil pretty closely, hovering around $82 a barrel, uh the Brent Crude approaching $90 a barrel. Um oil prices uh erasing some gains uh after Iran says US talks could be pursued based on national interests. We've heard that before uh and yet, uh we'll take any reprieve uh on oil prices uh increasing. Bob Doll straight straight ahead, and he'll give us uh an update on all of it. Let's head back to the phones. We're taking your questions today at 800-525-7000. Let's head to Mississippi. Roy, how can I help?

Roy: Yes, good morning. Um uh I listen to you guys a lot. I have a goofy kind of question. My son has um started a plan through his own efforts uh with the um various securities out there uh that he's been involved with for oh several years. And he was giving me a list of some of the stocks, Amazon and uh oh uh Cisco, all kinds of uh tech stuff. And he's garnered about a million dollars doing this, but he's asking me if I'm interested in joining and throwing the money I have into his plan. And uh he jokingly he says, "I want people that like to not spend money." [laughter] And uh I'm I'm kind of throwing it around in my mind, the thing that concerns me, or one thing anyway, is uh he's not a real strong Christian, and uh the other is, what might be the plus and minuses of putting my money in a joint account with him and other friends of his and like his son and his daughter and and that kind of thing? And he's curious if I want to throw my 401(k) in there. And I know there's going to be penalties if I do that, so what what might the penalties be?

Rob West: Yeah, wow. Yeah, a lot there. Um let's let's kind of walk through this. There wouldn't be any early withdrawal penalties, but you could trigger a a massive tax consequence by pulling that money out of the 401(k) because it would all be added to your taxable income in the year that you withdrew it as ordinary income. And so, you know, that could uh certainly push you up into a higher tax bracket, it means a pretty big um you know bill, AND you lose that tax-deferred growth moving forward. So, I wouldn't uh I wouldn't recommend that. I also want to just encourage you to be cautious here. You know, whenever family and investments intersect, I think at the very least it's it's wise just to proceed with caution and slow down, because, you know, you certainly want to understand the risks, the liquidity, meaning if you change your mind can you get out, the fees, uh you know, and whether this investment is appropriate for your stage of life. The last thing we would want is for this to, you know, go a direction other than what you expect or he expects, I'm not saying he's trying to do anything disingenuous here, but when it comes to investments, it's going to be beyond his control, the ultimate outcome. And I I think, you know, the last thing we would want is some sort of relational collateral damage here, um or for you to be in a position where you have harmed yourself financially, you know, moving forward given that this is your nest egg. I appreciate your desire to be supportive and and uh you know not turn him down, and yet at the same time, you know, this is a pretty significant decision with real tax implications and real, you know, um sustainability because your biggest risk in this season of life is what's called longevity risk, that you could outlive your money, especially if, you know, you take more risk than is appropriate and you lose some of it. Um do you know what type of investment this is? Is it a is it a private investment, or is it something that's publicly traded on the stock market?

Roy: It's it's private. He he doesn't trust anyone else out there. [chuckle] So it's all money he's invested over the years and uh we were with the S&P for a while, but he got out of that, and of course, he's regretted doing that now. But um yeah, yeah it's it's mainly a just a private uh individual kind of thing he's created himself, you know.

Rob West: Yeah. And and that just adds more risk. Not again, not that he's not skilled as a as an investment selection, you know, person uh as a stock picker, so to speak. Um but whenever you go into a private investment, there is less regulation, uh often, you know, these private investments uh lack any liquidity, um and so, you know, your ability to get out of it is going to be significantly uh less. Um so, you know, I would stay away from this. I mean, if you wanted to go into it, again, um I'd want to try to keep it inside the uh retirement structure, the pre-tax structure, which would mean that you could use a what's called a self-directed IRA. You could uh do a search on that, you'd have to find a self-directed IRA custodian. Um and and they would uh often allow you to invest, but I would keep it probably no more than 5% of my investment, um just because, again, this is not the season of life for you uh to both mix family and money, and especially in a private investment, um you know, the ownership structure, the liquidity, the creditor risk, uh you know, just all of these things, potential family conflict, uh are a big downside. Uh in terms of a, you know, a joint tenancy situation, um you know, I I would stay away from that as well. That's going to create gift tax considerations, estate planning issues. Um it just adds a whole lot of complexity unnecessarily. Um so I would just keep everything in your name alone. I would probably encourage you just to avoid this all together, but if you did do it, I would do it only, you know, no more than 5% and I would use a a self-directed IRA to keep it in that tax-deferred environment.

Roy: Okay, fine. Uh thank you so much. Uh I just wanted to get your your position on that kind of thing. I know the difficulties with family. Uh you never think anything's going to crop up and yet it always seems to rear its ugly head at some point. But uh thank you again.

Rob West: It unfortunately it does. But I appreciate you, Roy. Thanks for calling today. Let us know if we can help further along the way. Uh let's go to uh let's see. We'll head down to Louisiana. Ann, how can I help?

Ann: Hi. Good morning. Uh can you hear me?

Rob West: Yes, ma'am.

Ann: Okay, good. Um I have a problem that I've been trying to look into. Um I needed some more Social Security quarters to start withdrawing my Social Security. I need 12 more quarters. So, I got a little job as a household manager. Now, my problem is I'm trying to figure out, should I be hired as an hourly employee, a household employee, or an independent contractor with hourly pay? And I know there's such a thing as nanny taxes and how would the IRS look at this position and what should I do?

Rob West: Yeah, great question. Uh yeah, so as you look at this, you know, the key issue is that the job classification should reflect the actual working relationship, uh not which choice produces more Social Security credits. So, if your goal is to earn credits, uh you need to make sure your wages are properly reported and that Social Security and Medicare taxes are paid. Whether you're an employee or an independent contractor really depends on the nature of the job, not necessarily which one you'd prefer, but in either case, you can achieve those credits as long as it's reported and taxes are paid properly. Hang on the line, we'll talk a bit more.

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Rob West: Thanks for joining us today on Faith & Finance here on American Family Radio. In just a moment, Bob Doll will be by. We'll get Bob's take on what's moving the markets today and just his general assessment of where we find ourselves with this economy. But first, before the break, we were talking to Ann in Louisiana. She's looking to achieve the number of credits necessary to be entitled to a Social Security benefit. She's not quite there yet, and she has recently engaged as a household manager, or is about to, and was wondering how should she structure that to be sure that she earns Social Security credits. And I was saying, before the break, Ann, that really the relationship between you and this person who's asking you to become a household manager is not as much about getting the credits, and really more about what is the right job classification that reflects the actual working relationship. So, you know, if you are, you know, just working for one employer, and they're controlling what work is done and how it's done, then that's going to be a household employee. They would need to withhold and pay the Social Security and Medicare, and those wages would count. If you're truly operating independently, and you set your own methods, you serve multiple clients, you're controlling how the work is performed, well, then that would be in line with an independent contractor relationship, but you'd have to pay the self-employment taxes. But that would then also earn Social Security credits. So, you know, the relationship you have and some of those key factors, you know, like one or multiple, you know, relationships and whether you control what you do and your hours and so forth, or they do, is ultimately what's going to determine the the relationship that you have. But does that all make sense?

Ann: Uh, yes. Um, the thing is, I will only have—I want to work as an independent contractor, but I only have one client. Would that catapult me into the employee category?

Rob West: Yeah, so that's—that's going to be a challenge there because I—I certainly understand that you want to be independent, because then you can take advantage of the deductions and so forth of being self-employed, although you would have both sides of Social Security. Um, one client doesn't automatically disqualify you. I would just say, you know, you can have one client and still be an independent contractor, but the IRS is primarily going to look at who controls the work. So, if you decide how the work is done, you provide your own tools, you set your own schedule, you operate independently, you may qualify as an independent contractor. If, on the other hand, the family directs your work, and your hours, and your methods, you're more likely a household employee. So, I would, you know, get with a CPA who can really just evaluate your situation here and advise you on how to set it up. If you decide to go, and, and the CPA believes you can be recognized as an independent contractor based on your working relationship, then you're going to want to make sure you keep separate books, and that there's a clear line between your personal finances and your business. That's going to ensure that you are able to deduct business expenses without being challenged by the IRS, but you've got to be able to document things separately between your personal and your business activities.

Ann: Okay, well that sounds good. Um, do you know any maybe off the air you all can recommend a a certified Kingdom Advisor here in the Louisiana area for me?

Rob West: Yeah, if you go to findacka.com, you could find a certified Kingdom Advisor, and then, uh, you could ask for a referral to a small business accountant or CPA. They would all have one that they typically work with. So just go to findacka.com. You can do a zip code search. And thanks for your call today. Lord bless you. Well, Bob Doll is here as we begin the trading week. Bob, uh, give us an idea of what you're watching this week on your, uh, your big board there in front of you.

Bob Doll: I'd say there are three things that are consuming our thinking. Number one, earnings: Can they get any better than this, Rob? And the answer is, ah, probably not. Number two, inflation and the Fed: Inflation, we got a good reading last week, but, you know, that's one out of a long list that haven't been so good. And how are we going to get inflation anywhere close to 2%? Uh, that's the second issue. And the third issue is: What's going on in the Middle East? This creep up in the price of oil—you know, we're nowhere near, thank the good Lord, from where we were a couple of months ago, but it's troublesome that they're creeping higher because tensions are mounting. And the what—you could put one word over everything I said: uncertainty. There's always uncertainty, but it's higher than usual. Watch it carefully.

Rob West: Yeah, that—boy, that's well said, Bob. And, you know, we're—we're back up above, I think, nation-wide, an average of $4 a gallon. Gas prices are kind of at the crux of all this, aren't they?

Bob Doll: Yes, yes, they are. I noticed myself, filled up, and it was, "Oh, it's over $4 again. I don't like this." Um, but—but I nevertheless, I had to drive, so I filled up my car and that happens, you know, millions of times around the country. And, uh, uh, you also, as you're—we're looking forward to the election, one of the key, uh, lead indicators to which party wins, um, the incumbent or the challenging party, is the direction of the price of gasoline at the pump.

Rob West: Yeah. Bob, um, where are we at just in terms of the breadth of this, uh, rally, if it were to continue? I mean, are we still seeing most of this driven by the tech and the Mag 7, or is it broader than that?

Bob Doll: Yeah, a lot of the rotation is within technology, very narrowly. It's hardware, uh, uh, it's, uh, software, uh, versus, uh, um, a lot of the AI stocks, um, hardware. Um, but pre—beyond that, most of the market is doing reasonably well. So if you look at overall advance-decline line breadth statistics, it's still pretty healthy, uh, which tells us that, um, uh, if we can get past this momentum rotation and the concerns in—in technology, um, perhaps the market will be just fine.

Rob West: Yeah, very good. Bob, uh, what did you take away from the, uh, meeting minutes from Kevin Warsh's, uh, you know, first meeting, and on top of that, we obviously had his congressional testimony as well?

Bob Doll: Yeah, I mean, he's basically saying, very consistently and very simply: Inflation's got to get back to 2%, and we're going to do our—our best to get it there as soon as we can. So, uh, you know, reading between the lines, as you know, the Fed has to be concerned about keeping inflation low and unemployment low, and right now, unemployment's okay, so he's focused on infla—on inflation.

Rob West: All right, Bob, appreciate your time as always, my friend.

Bob Doll: God bless.

Rob West: All right. That's Bob Doll. He's CEO and CIO at Crossmark Global Investments. Uh, sign up for his weekly investment commentary when you head to, uh, crossmarkglobal.com. All right, we've got a few minutes left. Let's try to sneak in at least one more call. Uh, we'll go out to Texas. Virginia, how can I help?

Virginia: Hi, thank you so much for taking my call. You're such a wonderful blessing. Um, I have a student loan that, um, I did not pay on for a while, so it has gained—it has some unpaid interest. And but I have, um, now been making payments, and I've been putting, squirreling money away, and I am able to pay off that interest, the outstanding interest, so that—because I need to do that, right, before I can—it'll even—my payments will even touch the principal. Is that correct?

Rob West: Yeah, I mean, so, you know, if you have the opportunity to pay down accrued interest, that can definitely be a wise move because it reduces the amount of interest that may continue to accumulate. Um, I would say, you know, that's a generally a good idea. Are these federal or private student loans?

Virginia: Federal.

Rob West: Okay. All right. Um, yeah, and so is your plan to pay off the accumulated interest and then just keep paying on them, you know, monthly, or—or what are you thinking moving forward?

Virginia: Yes. Yes. So now that, um, the deferments have been been lifted, the—I mean, I was going to make payments anyway, but definitely start making payments, um, continue to make payments monthly. But I noticed when I called them also, um, they had said that, you know, if I just make, say, $200 a month, it's not really going to—because I have so much interest accrued, it's not even going to bring down any of the principal. I'm really just paying in off the interest, because that's where, when I send in a payment, they first send it to the interest.

Rob West: Yes, yes. And that's why you want, uh, that's why you want to do this. And so I think going ahead and paying off that accrued interest, well done on putting that money aside and having the ability to do that, and now I think from here, you know, once you get that down, obviously if you can send a little extra every month, great. Um, but at the very least, let's get that accrued interest from the deferment out of the way and then get you, you know, paying on a monthly basis, and again, if we can add something to it, that would be excellent.

Virginia: Okay. And then one other quick question. Someone had told me that they—what they did for with their child had a student loan is they refinanced it through a through SoFi, uh, as a personal loan. Um, and they were telling me that I should do that. But I—I don't—I feel safer to have it as a federal—I don't know, just kind of feel like it's, uh, just to keep it as a federal loan. They're at 6% and 7%, cuz I have, uh, two different loans that have been federal loans that are consolidated. So one's at 6% and one's at 7%. And then when I went onto the SoFi just to check it out, you—they don't even let you see any sort of percentages. You have to give them all your information: date of birth, and all that, and I didn't want to do that. So...

Rob West: Yeah, well, here's—here's the thing: I'd be very cautious about that because, you know, you're going to give up those valuable federal benefits if you need them down the road, like income-driven repayment, for deferment, forbearance, you've already taken advantage of it, if you needed it again in the future, you'd lose that. And you're likely not going to get a meaningfully lower interest rate on a personal loan without any kind of collateral that would justify it, so I would just stick tight with what you got on the federal side.

Virginia: Great. Thank you. Yes, that's a confirmation. God bless you, Rob.

Rob West: All right, thank you, Virginia. I appreciate it. Folks, uh, already 20 days into July, as a listener supported ministry, we're starting our new fiscal year slightly behind where we need to be. So here's what I would ask: If you love the program, uh, we would invite you to be a supporter of Faith & Finance. Uh, we can only bring you this program because of your generous support, so whether it's a one-time gift or you become a partner at $35 a month and receive, uh, our magazine, all of our studies and devotionals, and quarterly ministry update—regardless of which one it is, we'd certainly be grateful. Just head to faithfi.com/give. That's faith f i .com/give. Come back and join us tomorrow. Big thanks to my team today: Taylor, Devin, Pat, and everybody here at FaithFi. May God bless you. We'll see you then.

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