What are the 7 best things for retirees to spend their savings on?

Ralph
00:00:00

Are you worried about outliving your retirement savings? Do you find yourself wondering if you're spending your retirement funds wisely?

Maybe you're concerned about balancing enjoying your golden years while still being a good steward of God's resources.

I've got the show for you today because today we're going to explore the seven best ways Christian retirees can spend their savings while still honoring God and creating lasting impact. So it's going to be a great show for you today.

Podcast Announcer
00:00:29

Welcome to the Ask Ralph podcast where listening to an experienced financial professional with over 30 years of experience can help you make sense of confusing questions, current headlines and industry trends about taxes, small business, financial decision making, investment strategies, and even the art of proper budgeting. Ask Ralph makes the complex simple by sharing his real world knowledge from a Christian perspective with all things financial.

Now here's your Host, Ralph Estep Jr.

Ralph
00:00:59

[00:00:34] Ralph Estep, Jr.: Well, welcome to the Ask Ralph show, where we focus on God's principles for financial management.
[00:00:41] Ralph Estep, Jr.: And I really appreciate the time you've given me as we've walked this journey together. Now, if you missed yesterday's show, we had a topic about estate planning with a kingdom focus. And the key theme of that was creating a lasting spiritual legacies. So I'm going to encourage you to catch it if you missed it, because we gave you some real good strategies for honoring God during that estate planning phase.
[00:01:03] Ralph Estep, Jr.: So if you're just interested in checking that out, go back and check out yesterday's show.
[00:01:11] Ralph Estep, Jr.: Today's listener question comes to us all the way from Tennessee, and it comes from a lady named Sarah, and this is what she wrote. She said,
[00:01:17] Ralph Estep, Jr.: "Dear Ralph, my husband and I just retired last month, and while we've been blessed with decent savings, we're struggling with how to use it. We want to enjoy our retirement but also want to honor God with our resources. Some of our friends are traveling the world while others are giving everything away to charity. We're confused about finding the right balance. How can you help us understand the best ways to spend our retirement savings as faithful Christians?" Well Sarah, I want to start by saying thank you for your question. And I've got an answer for you today in finding that what you called, right balance.
[00:01:52] Ralph Estep, Jr.: I've got some great ideas for you. And remember if you've got questions like Sarah, you can submit them. Just go to justaskralph.com. And maybe your question might be right on this show just like Sarah's.
[00:02:07] Ralph Estep, Jr.: You know Sarah, I always like to start our show with some scripture to help ground ourselves. And your question reminds me of a powerful verse that speaks directly to how we should view our resources. And this comes to us from Proverbs chapter 3, verse 9. And it says this. It says, "Honor the Lord with your wealth, with the first fruits of all your crops." So that's exactly what we're going to talk about today on our show.
[00:02:32] Ralph Estep, Jr.: And that's how do we honor the lure with our wealth and the first fruits of all of our crops.
[00:02:42] Ralph Estep, Jr.: Well, let me tell you about a client that I had, Tom and Mary. They had an interesting story. And I thought it was very relevant today Sarah to answer your question. Now picture this.
[00:02:53] Ralph Estep, Jr.: These are two retired teachers, and they did the right things. They saved well for retirement. Between the two of them, they've amassed $1.2 million in their retirement accounts. Between the two they had 40 years of service and education and then they work hard their whole lives. But now all of a sudden they're retired and they're finding that they're overwhelmed by this financial responsibility. And they got this money
[00:03:18] Ralph Estep, Jr.: they worked hard their whole lives. They got the retirement, they got their social security coming in. They got some savings accounts. But now all of a sudden they're telling me, they're saying Ralph, we're overwhelmed. Because they knew they were financial secure, but what they didn't want to do is to ignore that honoring God part of that. So I looked at them, I say, okay, we got some core challenges to talk about. And really the core thing we needed to figure out was how to balance.
[00:03:44] Ralph Estep, Jr.: Just like you said, Sarah in your question, what is that right balance? We had to figure out a way to balance that stewardship with their personal needs. And for them, it was really important. They avoided the extremes they'd seen in their friends. They had friends who were traveling the world.
[00:04:01] Ralph Estep, Jr.: They had some neighbors they told me about had just bought this huge RV for traveling. And they said, Ralph, that's not hard. That's not how we roll. That's not literally, that's not how they roll. It was a funny one, but they didn't want to be in that pattern of overspending or that excessive giving on the other side. And one of the big challenge they had, they said, Ralph, we don't ever want to be in a position we're become a burden to our children. So we need to figure out that right balance, how to manage our financial success and how to manage what we need for our retirement and still have that alignment with our values. So I did what I usually do
[00:04:38] Ralph Estep, Jr.: and we got into scripture and I looked at Matthew 6:33 because I really felt this was the way to guide their decision-making. And if you're not familiar with Matthew 6:33, this is what it says. It says this, it says, "But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you."
[00:04:57] Ralph Estep, Jr.: And I think that was a great place to start. Because we focused on those stewardship principles. And we really started looking at their money and their savings as a tool. Money was a tool for doing that kingdom work. And I helped them. We took a look at their, we assess like I do with every client.
[00:05:17] Ralph Estep, Jr.: We took a look at where their money was going. We did that facts based thing, no judgment, no emotion, just looked at where their money was. We looked at their income, we looked at their expenses, we looked at their assets, their liabilities, we did all those things. And then we talked about what are their values, what are important to them?
[00:05:34] Ralph Estep, Jr.: And I came up with what I call the 7 category allocation.
[00:05:37] Ralph Estep, Jr.: And this is like this balanced solution. And this is what we did for them. So we started off with our first fruits. That's what the Bible is commanding us to do. So we put 15% of their incoming income into tithing and ministry. Started right there. That was important to them. It wasn't just enough to do that
[00:05:57] Ralph Estep, Jr.: 10% tithe. They wanted to give over and above that. So we said, okay, for every dollar coming in, whether that's from social security, retirement savings, you draws on that, whatever that is, 15% is going into tithing and ministry work. Now, the next thing they told me was that it was important that they could help their grandchildren. This was on their list of values that were important to them.
[00:06:17] Ralph Estep, Jr.: They wanted to see that their kids, their grandkids got Christian education. That's one of the things they mentioned to me that was so important for them. So the next thing we did is we allocated 20% of their budget to what I called the grandchildren's education fund. Because what they said to me is they said, Ralph, the parents care for our kids.
[00:06:34] Ralph Estep, Jr.: They can't really afford to send the kids completely to Christian education, but we want to help. So they allocated 20%. So again, first fruits. 15% tithing and ministry. Second component, 20% to the grandchildren's education. But that wasn't enough for them. They said, Ralph, we want to do more with what we have.
[00:06:52] Ralph Estep, Jr.: We've been blessed. We know it's not ours. It's ours to store, they said, Ralph, we want to put 10% into what they called the blessing fund. And I thought this was a really cool way to do it. So they said, look, we're going to put 10% of our income into blessing whether that be somebody at church needs help,
[00:07:07] Ralph Estep, Jr.: maybe somebody at church is experiencing some hardship, or maybe there's good things that we want to bless those people. So they said 10% of that into that blessing fund. So think about it now what I've already said. 15% to tithing and ministry, 20% to grandchildren's education, that's 25%, and then the next 10% to blessing.
[00:07:27] Ralph Estep, Jr.: So already they're starting off 35% isn't being spent on them and this is what's important to them. They wanted to allocate those resources at the front end. So 35% of every dollar coming in the door is going back out, whether it be for tithing to their church or ministries they followed, grandchildren's education or that blessing fund.
[00:07:46] Ralph Estep, Jr.: Now the next step was something I recommended. I said, you guys are educators. You want to continue that personal growth. So let's allocate a portion to personal growth. And they said, Ralph, let's put 5% of that because again, mentally, they didn't want to put more into themselves, they want to put it into others.
[00:08:03] Ralph Estep, Jr.: So they arrived at 5% said, Ralph, we can live with that. So we put 5% into personal growth. Now, the next thing we did is the inevitability of getting older. I said to them, listen, you've listened to my show. And they said, Ralph, we've heard you. We want to put some money in healthcare planning. So they put 25% of their income in the healthcare planning. They put money aside for emergency funds for healthcare. They made their home more beneficial as they got older. They put in a chairlift, they got themselves ready for those healthcare costs that we're going to come down the road. So that they put 25% in the 7 category allocation to healthcare. And then they said, listen, Ralph. We said our neighbors bought that RV and others are traveling aboard.
[00:08:45] Ralph Estep, Jr.: We want to do some traveling as well. Maybe not to the extravagance that other people are doing, but let's put a certain amount of side. So we decided we arrived at 15% for what I call travel and enjoyment. Those were those things they wanted to go visit people, go travel to places they never been and
[00:09:01] Ralph Estep, Jr.: they put 15% into that. We have one category left and this was really important to them because like I said, they did not want to be a burden to their kids. They put 10% into that emergency fund. And they already had a pretty decent size emergency fund but they wanted to make sure they were continuing to sow seeds in the garden for that emergency fund.
[00:09:20] Ralph Estep, Jr.: So 10%. So let me go back over those again. This was their 7 category allocation. 15% tithing and ministry. 20% to the grandchildren's education. 10% to that blessing fund. 5% to their personal growth. 25% to healthcare. 15% to travel and enjoyment and last but not least that 10% to that emergency fund.
[00:09:41] Ralph Estep, Jr.: So what was the outcome of that?
[00:09:43] Ralph Estep, Jr.: You know, what came about because of that? Well, one of the things they found to be really important to them is they loved teaching. He had that passion for teaching.
[00:09:53] Ralph Estep, Jr.: So they worked with this mission in Guatemala. And they actually created a scholarship fund for students who needed to get money there in Guatemala. And they use that blessing fund, that 10% they set aside for that blessing fund to fund this mission in Guatemala. And as far as their own personal growth, they did certain things like I can remember
[00:10:15] Ralph Estep, Jr.: they took art classes. They got engaged in Bible studies things. These were things that grew the day. They were sharp in their minds and they wanted to maintain that sharpest. Hey, listen. They had been educators for 40 years. So this was really important to them. They want to continue to grow. And that's one of the things I will say to you about clients, what I'm learning in my practice. As clients get older, it really is huge
[00:10:36] Ralph Estep, Jr.: if you could continue to pursue those personal growth things. They really will make a huge impact.
[00:10:43] Ralph Estep, Jr.: But overall, they both said this to me. They said Ralph, the biggest thing we found was peace in that financial stewardship cause that's what they were looking for.
[00:10:56] Ralph Estep, Jr.: Sarah its the same thing you're looking for. What is that balance? What does that right balance? Because what you're really asking me is Ralph, how do we get to a level of peace?
[00:11:05] Ralph Estep, Jr.: And another thing they did and I think this was a big one is they discovered new ways to serve in retirement. They didn't have to give their money but you can see by we talked about 35% of it was going back to somebody. But they found ways to serve. They actually took a trip to Guatemala to go see that mission and they acted as missionaries.
[00:11:22] Ralph Estep, Jr.: They got involved in their church with different activities there.
[00:11:27] Ralph Estep, Jr.: So they discovered new ways to serve in retirement.
[00:11:32] Ralph Estep, Jr.: And so you can do the same thing Sarah. You can put together that same sort of allocated budget as they did. And I'm going to help you do that, but trust me, you can do it. You have the capacity to do it. So now what I'm going to tell you is what I've found are the 7 best ways Christian retirees can spend their savings
[00:11:49] Ralph Estep, Jr.: cause that's what you asked me, Sarah is like, how do we balance this? And we did this with the people I worked with. Number one thing. Giving back to God through church and ministries. And maybe you're not a tither. Well start there. Start with that regular tithing, that 10%. Maybe you want to reach and do 15% like my client did. Maybe this is an opportunity to look at those special projects that are going on at your church.
[00:12:13] Ralph Estep, Jr.: Hey, if you're like my church, we've always got some special project going on. Maybe you want to work with youth. If you're an educator, maybe you want to work in teaching or in Bible study or something like this. Maybe you want to establish that giving fund like my clients did. They put 10% in that giving fund.
[00:12:30] Ralph Estep, Jr.: And this is a great opportunity to partner with other Christian organizations who may be align with your values. Maybe you support something like Samaritan's purse with Franklin Graham who goes to these places where we've had terrible natural disasters. And maybe that's important to you, giving back
[00:12:46] Ralph Estep, Jr.: so you can partner with people who already doing it. You don't have to go out and do it on your own. There are a ton of great Christian organizations. I'm not going to list them all today, but that are doing things that make a positive impact. So that's what I'm saying. Number one of these seven things that you should spend your savings on is giving back to God.
[00:13:03] Ralph Estep, Jr.: Think about the mindset I'm setting there. You're starting out by giving back. So that's number one. Number two. Invest in the next generation. Like I said to my clients, it was important to them. They wanted to support their grandchildren's education. That was important to them. They wanted those kids to get a Christian education.
[00:13:21] Ralph Estep, Jr.: They didn't like the secular model of what's going on out there. They don't want their kids to learn about all this nonsense they're teaching in the public school system. And I'm not even going there today. But it was important to them. When they put their money where their mouth is, they recognize that their children couldn't afford to pay for all of that for their grandchildren, but maybe they got a kick in from the grandparents and it made it possible.
[00:13:43] Ralph Estep, Jr.: And this is a place to create those lasting family memories.
[00:13:45] Ralph Estep, Jr.: I guarantee those grandkids are going to remember this the rest of their lives because of the impact this had on their education.
[00:13:54] Ralph Estep, Jr.: Another way to invest in next generation is to fund youth ministries. A lot of people forget about this. They get so focused on the day-to-day, but there, we need to start building up the youth in our churches and in our charitable organizations. They're the next leaders and we need to start thinking about how do we invest in them.
[00:14:13] Ralph Estep, Jr.: So that's a great way to invest in the next generation. And last but not least in investing. Maybe you want to look at establishing some mentorship programs. And it's a way, a place where you have some passion to mentor people. Like one of the things that I want to do when I slow down a little bit if I ever do that is to start mentoring younger people on how to get that financial stewardship so that they can go out and be catalyst or satellites to go talk to other people in their generation. Maybe the younger generation say, Hey, listen, you know, here's something you could do with your money now at 20 or 22. Start putting away for retirement.
[00:14:49] Ralph Estep, Jr.: So that's number two and that's invest in the next generation. Number three thing to do. Care for those in need.
[00:14:58] Ralph Estep, Jr.: If you want to make an impact on yourself and you want to find that right balance, support local charity. Support your church. Support the missionaries that are going out there and spread the good news. Like my clients did. Maybe you want to have that emergency help fund where you help family members in crisis or other people in your, what I call your Christian family.
[00:15:20] Ralph Estep, Jr.: You don't realize how much of an impact that can have for those people who are suffering through in those crisises. Like I said, look at what Samaritan's purse is doing when we had these terrible storms come through on this flooding. Franklin Graham and his group were right there with what people needed. Food, clothing, shelter, water, all of those things. Maybe you do like my client
[00:15:42] Ralph Estep, Jr.: did. You fund mission work. They found that great connection with that mission in Guatemala.
[00:15:47] Ralph Estep, Jr.: Maybe you'd be really bold, you create that emergency assistance fund where you help maybe work with your church to do this. And when a family's suffering or when somebody needs help with paying out utility bill or giving their food for their children or clothing or something like that. That is a great way to get started.
[00:16:03] Ralph Estep, Jr.: So that's number three, caring for those in need. And number four, you do all those things, but also invest in your own personal growth. What I said earlier and I stand by this. My clients who retire and do nothing, they don't last. They fail quickly. Their minds lose its sharpness. So, if you want to continue to grow, invest in that personal growth. Make that a part of your spending budget. Whether that's through continuing education, maybe it's art classes.
[00:16:33] Ralph Estep, Jr.: Maybe it's learning more about the Bible. Get them more involved in Bible studies. Maybe you take some extra money and attend Christian conferences. Maybe you couldn't afford to do that when you were working, you couldn't get the time off, but now you can. And maybe you make a vacation of it so you check a couple boxes with the same thing.
[00:16:51] Ralph Estep, Jr.: And this is the truth.
[00:16:52] Ralph Estep, Jr.: Like when I look at my church and our Bible studies, when I look around, it's mostly people who are older. Maybe it's because they have the time, maybe it's because they have the passion, but they're investing in their own personal growth.
[00:17:05] Ralph Estep, Jr.: It's also a great time to learn new skills. Just because you're retired doesn't mean you have to stop learning. You can learn all kinds of new things. I've got several clients who have retired and taken on new careers. Maybe it's a side gig, which is great. It's a way to fund more income. Maybe you don't need the income.
[00:17:20] Ralph Estep, Jr.: Well, then use that income to give it back to grow the kingdom for kingdom work. It's a great way to find that right balance. So that's number four, investing in personal growth. Number five and my clients focused on this too. And you got to prioritize health and wellbeing. That starts by living your life in a way that you're being healthy, but then make sure as you focus on retirement to maintain good health care coverage. So I'm 52 years old.
[00:17:46] Ralph Estep, Jr.: I never realized how important that was to a couple of years ago. Once I hit 50, like everything's starting to break. I spend myself investing more and more. So at this point, we've got the Cadillac of health insurance coverages, and it's not cheap, like I've said on the show, it's going up by another 30% this year. But I see the value in that. And the bigger value, and I'm going to have a doctor come on in a couple of weeks.
[00:18:07] Ralph Estep, Jr.: We're going to talk about this, but invest in preventive care. That is so critical. It's not enough to go to that triage when you're sick. Invest in that preventive care, join wellness programs. There are a ton of options out there for how to stay well. Got a great friend of mine, he does a daily podcast called walking is fitness. Its a 10 minute podcast I highly recommend it, but I think it's a great wellness program. Instead of sitting on the couch, go get his podcast. Again,
[00:18:35] Ralph Estep, Jr.: it's walking is fitness. And just start to focus in that, but that's a wellness thing. And if you're a little bit younger, consider that long-term care insurance. That's one of the things that my wife and I need to start looking at. Because that's all about prioritizing health and wellbeing. So that's number six, prioritize health and wellbeing. Number
[00:18:54] Ralph Estep, Jr.: no, excuse me. That's number five, prioritize health and wellbeing. Getting out on, I'm getting out of join here. Number six.
[00:19:01] Ralph Estep, Jr.: This one is crucial. Enjoy God's blessings. Now I'm going to say something here, which may be a little bit provocative, but travel with a purpose.
[00:19:12] Ralph Estep, Jr.: I'm not telling you to go do things well, what's on my bucket list. Well find things that are of importance and a value to you. One of the things I keep on seeing advertisements for is this Noah's Ark thing here in the central part of United States.
[00:19:23] Ralph Estep, Jr.: I want to go check that out. 'cause I think it'd be cool to see, but also there's a purpose. It's going to make us invest in that Bible story of Noah's Ark and what does the importance of that was.
[00:19:34] Ralph Estep, Jr.: Another way to enjoy God's blessings are pursue meaningful hobbies, things that actually matter. Maybe that's helping habitat for humanity, reconstruct houses for people in need. Everybody's got different ideas, but another great thing you can do is create those family experiences.
[00:19:52] Ralph Estep, Jr.: We're getting ready to come up on Christmas here soon.
[00:19:55] Ralph Estep, Jr.: It's a great time to do that. Create those family experiences. And another way. This one is crucial as well. Practice Sabbath rest. If you really want to enjoy God's blessings, practice that rest. Disconnect. And enjoy what God has given you.
[00:20:16] Ralph Estep, Jr.: And number seven on my seven tips here and we'll go back over in a second.
[00:20:21] Ralph Estep, Jr.: It's don't forget to plan for the future. Like my clients did, maintain an emergency fund. Don't just set it and forget it. Build that emergency fund. Make sure you have enough for that repair that happens. I've shared with you that we've had issues in our own. I'm going to have this the end of this week.
[00:20:37] Ralph Estep, Jr.: They're going to replace my two electrical panels in my house. That's a $3,000 cost. And those things happen when you own your home, or maybe you have a car repair that you weren't expecting. Maybe your son or daughter, your granddaughter, your grandson calls, and they've got an emergency that you can help them with.
[00:20:52] Ralph Estep, Jr.: And that's a blessing to you. Another great thing to do to plan for the future is update those estate plans. I've talked about this on the show in the last couple of weeks. Make sure you've got all your I's dotting your T's crossed as it relates to that legacy, as it relates to those estate plans. Like I've said before, you can't necessarily control when you're going to pass away, but you can control how things are gonna play out after you do.
[00:21:17] Ralph Estep, Jr.: And here's what a lot of people don't want to talk about in planning for the future is consider inflation.
[00:21:21] Ralph Estep, Jr.: I know a lot of my clients have been blindsided by this. I've got a good client, a friend, Bob, and he talks about this on Facebook all the time. He goes to the grocery store and things are costing more and more and more. Well, if you're not in that point of being retired yet, start thinking about your hedge for inflation.
[00:21:38] Ralph Estep, Jr.: What if prices continue to go up? How do you prepare for that? And I've done shows on that. You can go back and listen to those. But you've got to build in that inflation buffer. So if you're expecting your expenses in retirement to be X, add 15%. Add 20% to that and then shock test that budget and see can you still make it work? Which leads me to the last thing in planning for the future.
[00:22:02] Ralph Estep, Jr.: And that is stay financially educated. You want to stay engaged. Listen to shows like this. Expand your mind but maintain that financial education. Because that's all about being that wise steward. So let's go over those top 7 again, just so you have them. These are my what I call the seven best ways Christian retirees can spend their savings.
[00:22:24] Ralph Estep, Jr.: And that's number one, giving back to God through church and ministries. Number two investing in the next generation. Number three, caring for those in need. Number four investing in your personal growth. Number five, prioritizing health and wellbeing. Number six, enjoying God's blessings and number seven, continuing to plan for the future, even in retirement.
[00:22:47] Ralph Estep, Jr.: Yes, you heard Ralph say that, even in retirement. You can still continue to plan for the future.
[00:22:55] Ralph Estep, Jr.: Now, let me ask you a question. Has this show made a difference in your life? Not necessarily today's show. But the Ask Ralph show in general. Have you had that aha moment when something just clicks about your finances and faith.
[00:23:10] Ralph Estep, Jr.: Well, listen. That's exactly what someone else is searching for right now. And here's why your voice matters. Everyday people just like you are looking for guidance, just like Sarah. They're looking for how to find that right balance. And trust me, your story could be the nudge they need to transform their financial journey. And your honest review helps them find us in a sea of podcasts.
[00:23:34] Ralph Estep, Jr.: There are millions of podcasts out there. But you're listening to this show today and I'm hoping it's making an impact on you. So I'm going to ask you to do me a big ask. I want to ask you to do me something has quick impact but has a lasting difference. Take 60 seconds. Go to askralphpodcast.com/review and leave me a five-star rating and review.
[00:23:59] Ralph Estep, Jr.: It's really that simple. Share your breakthrough moment.
[00:24:02] Ralph Estep, Jr.: Maybe it's something you learn on the show. Just put that into that review because people are going to see that and go, wow. They learn that from that. Because listen, it's not just about me. You're going to help someone else find their path to financial wisdom. Think about this for a second. Think about the most valuable lesson you've learned from this show.
[00:24:21] Ralph Estep, Jr.: That insight you're holding.
[00:24:23] Ralph Estep, Jr.: It could be exactly what another listener needs to hear. So I'm gonna encourage you be their sign. Be their guide. It won't take long. Go to askralphpodcast.com/review. Because the truth is this. Together and we're working together with this. We're building a community where faith and finance work in harmony. We are finding that perfect balance. And listen, your review is more than feedback.
[00:24:49] Ralph Estep, Jr.: It's a beacon for other seeking that same clarity that you found. So again, I encourage you. Do that review for me today. Do it right now, askralphpodcast.com/review. And let's make an impact on that person who's looking to find that community of people who can help them. Well now let me get to some action steps.
[00:25:09] Ralph Estep, Jr.: I've given you a great deal to talk to think about today. Let me give you some reality things that you can do right now. Number one. Review your current spending and create categories aligned with these seven areas. So take a look at your current spending, your current budget, and compared it to the seven things I talked about. And then set those specific percentage goals for each category.
[00:25:30] Ralph Estep, Jr.: You're going to talk about with my client and it's going to be different for every person. Maybe you don't want to put so much in ministry. Maybe you don't want to put that much. Maybe you don't have grandchildren. So that 20%, it doesn't matter to you, but create those percentage goals and then take a step back and look at it and say, okay, am I hitting these seven areas? Maybe you want to meet with a Christian financial advisor to create that balanced plan.
[00:25:54] Ralph Estep, Jr.: I'm happy to meet with you. You could contact me right through my website askralph.com.
[00:26:00] Ralph Estep, Jr.: And here's the big takeaway from today. You hear me say this all the time. It's not just a set it and forget it. You got to take a look and adjust your plan quarterly because you might find that things happen in life, but you want to refocus yourself and get back to that balance. So review and adjust your plan quarterly. Now, make sure you tune in tomorrow, we're going to be discussing the top 7 reasons why you should not open a CD.
[00:26:23] Ralph Estep, Jr.: Now that's a provocative statement. But there are times when buying a CD might not make them make sense. So you might be surprised at what you learned tomorrow. Now remember this as I close today. My passion is to help you achieve financial success. I think you can hear that today. I want to see you live out your dreams. I want you to attain those big, hairy, audacious goals that you're seeking.
[00:26:46] Ralph Estep, Jr.: And I want you to find that right balance. And I want to see you grow in your faith. And I know together, working together in this community, we can master your finances from a Christian perspective. So as I always end this show, stay financially savvy out there, and God bless you.

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