Nov. 6, 2025

Faith, Finances, And The Courage To Give

Faith, Finances, And The Courage To Give

Have a question or comment for Pastor Plek or one of his guests. Send it here. 373: What if your most generous years aren’t behind you, but right in front of you? We sit down with Jake Ridley, a faith-driven wealth advisor and church board treasurer, to unpack how a clear plan and a grounded theology of money can turn fear into purposeful action. From estate strategies that nudge giving upward today to the surprising reality that most retirees underspend, this conversation bridges spiritual c...

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Season 4

Have a question or comment for Pastor Plek or one of his guests. Send it here.

373: What if your most generous years aren’t behind you, but right in front of you? We sit down with Jake Ridley, a faith-driven wealth advisor and church board treasurer, to unpack how a clear plan and a grounded theology of money can turn fear into purposeful action. From estate strategies that nudge giving upward today to the surprising reality that most retirees underspend, this conversation bridges spiritual conviction with practical tools.

If this episode challenged how you think about money and mission, share it with a friend, subscribe for more faith-and-finance conversations, and leave a review to help others find the show. What’s one step you’ll take this week toward intentional generosity?

Text your questions to us at 737-231-0605 or visit pastorplek.com. We talk faith, culture, and everything in between.

Like, share, and subscribe! We love seeing and responding to your reviews and comments.

Support the show: https://wbcc.churchcenter.com/giving

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00:05 - Board Work And Church Planting

01:19 - From Bookkeeping To CFP To Firm

05:26 - Integrating Faith With Financial Planning

05:30 - Estate Planning And Generosity Mindset

08:26 - Tithing Stats And Guilt Around Money

10:54 - Coaching Clients On Spending In Retirement

14:48 - How Much Is Enough To Retire

16:46 - Where Americans Spend: Travel Trends

17:47 - Pastors And Social Security Complexities

23:28 - High Earners, Time, And Intentional Generosity

28:48 - Goals, Windfalls, And Planning Priorities

32:24 - Crypto Skepticism And Risk

39:24 - Everyday Ministry, Community, And Small Groups

45:52 - Halloween As Neighborhood Mission Field

50:18 - Faith Conversations With Clients

55:12 - Markets, Bonds, Tariffs, And AI Boom

WEBVTT

00:00:05.360 --> 00:00:07.919
And welcome back to Pastor Plex Podcast.

00:00:08.000 --> 00:00:15.839
I'm your host, Pastor Plex, and I've got none other than Jake Ridley of Ridley Wealth Financial Management with me today.

00:00:15.919 --> 00:00:17.519
And also, you may not know this.

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He is a member of the board of the Association of Hill Country Church.

00:00:21.679 --> 00:00:22.800
That's right, friend of the show.

00:00:22.960 --> 00:00:23.359
That's right.

00:00:23.440 --> 00:00:24.399
Like this is a big deal.

00:00:24.559 --> 00:00:32.079
So to have uh a board member here who loves God, uh, loves people and wants to see more churches planted.

00:00:32.320 --> 00:00:39.600
So I'm gonna have to ask about that first because we have a lot of you know, association of Hill Country Church members out there in our listening audience.

00:00:39.759 --> 00:00:40.159
Absolutely.

00:00:40.399 --> 00:00:43.280
Just begging for more information on what's going on in the association.

00:00:43.359 --> 00:00:46.719
So, what can you tell us the latest and greatest for Association World?

00:00:46.960 --> 00:00:50.640
Well, first, I'm just getting my feet under my feet under me.

00:00:50.719 --> 00:00:53.679
Yeah, I've been there four or five months now.

00:00:53.920 --> 00:00:57.280
And um, yeah, love serving on the board.

00:00:57.439 --> 00:00:59.520
Um, I just became the treasurer.

00:00:59.679 --> 00:00:59.840
Okay.

00:01:00.000 --> 00:01:04.239
So really exciting stuff happening at the uh at the board, um, at the association.

00:01:04.319 --> 00:01:06.799
But um, but yeah, loving it, love church planning.

00:01:06.959 --> 00:01:11.280
Um, you know, saw firsthand the impact of you were an elder at uh the well.

00:01:11.599 --> 00:01:12.400
At the well, yep.

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That's so good.

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And so love being a part of that and continuing that and helping with that and um facilitating that.

00:01:18.480 --> 00:01:18.719
Yeah.

00:01:18.879 --> 00:01:19.280
All right.

00:01:19.439 --> 00:01:24.640
So let's get into just for a sec, um, Ridley Wealth Management.

00:01:24.799 --> 00:01:30.400
Tell me like what got you to a place where you're because you used to do our books.

00:01:30.480 --> 00:01:30.959
I saw it.

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If you didn't know this, listen to the audience, Jake Ridley managed the books of Wells Branch Community Church at one time until he fired us.

00:01:37.519 --> 00:01:41.359
We cut checks for goats and motorcycles.

00:01:43.760 --> 00:01:51.599
Listen, we had the largest goat farm in all of East Africa, and that was a bit much, I think, for any normal uh.

00:01:54.159 --> 00:01:56.239
We're not cutting checks for goats and motorcycles.

00:01:56.480 --> 00:01:57.040
That's when it said.

00:01:57.280 --> 00:02:01.120
Yeah, but you know that fueled church planting and beyond, which is wild.

00:02:01.280 --> 00:02:01.920
Anyway, all right.

00:02:02.000 --> 00:02:07.120
So after you fired us, you stayed on with uh church biz, and then what tell me what happened?

00:02:07.359 --> 00:02:10.719
Yeah, so um, so I got my CFP, certified financial planning.

00:02:10.960 --> 00:02:12.240
How hard is it to get a CFP?

00:02:12.400 --> 00:02:15.039
I mean, it's so hard, it's super hard.

00:02:15.280 --> 00:02:16.800
Uh no, it's not that bad.

00:02:16.879 --> 00:02:18.159
It requires a good bit of studying.

00:02:18.319 --> 00:02:20.319
Um is there like different levels?

00:02:20.479 --> 00:02:22.080
Like, is there like level one CFP?

00:02:22.560 --> 00:02:24.319
Um well, there's classes.

00:02:24.479 --> 00:02:27.120
So there's like six classes, I think, that you have to take.

00:02:27.280 --> 00:02:27.520
Yeah.

00:02:27.680 --> 00:02:29.599
And then you have to pass an exam.

00:02:29.759 --> 00:02:33.120
Um, and then you've got to have like all online of experience.

00:02:33.360 --> 00:02:35.599
No, I actually did half of it at UT.

00:02:35.759 --> 00:02:36.080
Oh, wow.

00:02:36.240 --> 00:02:38.639
And then half of it online just to kind of speed it up.

00:02:38.800 --> 00:02:39.280
Yeah, yeah.

00:02:39.439 --> 00:02:44.319
Um, but but yeah, then you have to have two to three years of experience to CPA.

00:02:44.560 --> 00:02:46.000
What do they count as experience?

00:02:46.319 --> 00:02:50.639
Working, doing actual personal financial planning with individuals.

00:02:50.879 --> 00:02:53.360
So do you have to have like a mentor or like a supervisor that works with you?

00:02:53.680 --> 00:02:56.319
So you go off on your own and you do it for like three years.

00:02:56.400 --> 00:03:06.719
Um, and then if you're working under another CFP, I think it's two, or that's the way it was when I was So like let's say I know this is seems like a random thing, but I have a lot of people who fancy themselves as financial uh gurus.

00:03:06.879 --> 00:03:08.960
So how what's you know about yourself?

00:03:09.120 --> 00:03:14.000
Yeah, well, you know, maybe, you know, maybe I like I'm just gonna get work on no hypothetically.

00:03:14.240 --> 00:03:15.840
Hypothetically, no, how how how long?

00:03:15.919 --> 00:03:18.159
So about three years from zero to financial.

00:03:18.400 --> 00:03:24.400
Yeah, it was like two, yeah, it was like three years from I didn't hadn't taken a class to I got my CFP.

00:03:24.560 --> 00:03:24.719
Yeah.

00:03:24.879 --> 00:03:25.199
So yeah.

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All right.

00:03:25.599 --> 00:03:27.759
So obviously you're you've been a Christian this whole time.

00:03:28.080 --> 00:03:34.319
But when you went, hey, I'm doing bookkeeping, I want to have my own wealth management.

00:03:34.479 --> 00:03:36.800
Is that kind of like everybody's dream in bookkeeping?

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To kind of be like I'm gonna be my own.

00:03:38.240 --> 00:03:38.639
I don't think so.

00:03:38.719 --> 00:03:43.599
It's kind of a different so bookkeeping is more like CPA, yeah, like accounting work.

00:03:43.759 --> 00:03:56.400
And so it's not really uh you're not talking stocks and no, I'm thinking a little bit just because state planning pastors see you working with money and they think you have all the money, like the only person they can go to.

00:03:56.639 --> 00:03:57.759
Yeah, like please, I don't know.

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Kind of stuff.

00:03:59.280 --> 00:04:03.199
Um, but I'd always wanted to get into personal finance.

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I just didn't know like how to.

00:04:05.520 --> 00:04:05.680
Right.

00:04:05.840 --> 00:04:09.120
And so so yeah, so it was a desire of mine for sure, though.

00:04:09.360 --> 00:04:13.919
Okay, so what but you were like, we're gonna make this thing all about faith.

00:04:14.639 --> 00:04:21.439
And like how that was had was there an example of that that you saw that you're like, or was there a non-example of that?

00:04:21.839 --> 00:04:25.680
So um there has to be someone else other than Dave Ramsey out there.

00:04:25.759 --> 00:04:27.120
Is that exactly well?

00:04:27.279 --> 00:04:30.319
Ron Blue was the Dave Ramsey before Dave Ramsey.

00:04:30.480 --> 00:04:30.639
Okay.

00:04:30.800 --> 00:04:32.000
He was a Christian finance guy.

00:04:32.560 --> 00:04:44.800
Um, and so yeah, so I've been doing it for the last nine, almost ten years, and um, you know, wasn't working with, you know, a faith-centered company, which wasn't bad.

00:04:44.959 --> 00:04:47.120
It just wasn't explicit explicitly Christian.

00:04:47.279 --> 00:04:47.759
Right, right.

00:04:47.920 --> 00:05:01.519
Um, but the more I did it and the more I worked with Christians, um, the more I just became convinced you can't really do this without bringing and integrating faith into the financial planning process.

00:05:02.079 --> 00:05:17.600
And so there's a reason the Bible talks about money, you know, so much, um, because it has unique temptation, unique um just weight that that you feel that you have um when when you're managing money.

00:05:17.759 --> 00:05:25.759
And so so that's where I started my own firm was to incorporate faith into the whole wealth management, you know, process.

00:05:26.079 --> 00:05:26.399
Okay.

00:05:26.560 --> 00:05:30.319
So then you were talking earlier about this, so I really want to kind of go into it.

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You you were sharing that most people give more at the end of their life than they did their entire like natural giving life.

00:05:38.720 --> 00:05:45.759
So yeah, so you could put your church or charity in your will or even as a beneficiary designation, which is fine and great.

00:05:46.000 --> 00:06:02.079
Um, but the studies show that the gift that you make when you die, meaning it's left to the church or left to charity, is ten to a hundred times larger than what people gave when they were alive, like their annual gift.

00:06:02.319 --> 00:06:09.439
And so what that means is most people are waiting until they die to be charitable and be generous, right?

00:06:09.600 --> 00:06:12.240
Which we were talking earlier is to me a sad right.

00:06:12.480 --> 00:06:18.560
Yeah, let's talk about that because it what's the get me behind the mindset of like of that person.

00:06:18.800 --> 00:06:19.040
Yeah.

00:06:19.279 --> 00:06:23.439
It seems like they're not being very faithful, I mean like full of faith.

00:06:23.920 --> 00:06:24.319
Totally.

00:06:24.480 --> 00:06:25.680
I think they're scared.

00:06:25.920 --> 00:06:42.800
Um you know, JP Morgan did a study, they do a study every year, and it shows the spending of retirees and every every other expense, travel, um, you know, eating out, like everything decreases the closer you get to the end of your life.

00:06:43.040 --> 00:06:43.439
Oh, wow.

00:06:43.600 --> 00:06:45.439
But there are two expenses that increase.

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One is health care, that one's pretty obvious, and then the other one is charitable giving.

00:06:50.879 --> 00:06:59.839
And so I take that to say people wait until they finally are convinced they're not gonna run out of money, right?

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And then they're and then they're generous.

00:07:01.839 --> 00:07:06.160
And so there's some that wait until the end of their life, right?

00:07:06.319 --> 00:07:10.720
And it gives it gets given through their will beneficiary designations.

00:07:11.040 --> 00:07:17.279
Um, but most people are scared of running out of money, no matter how much money you have.

00:07:17.439 --> 00:07:19.439
Like most people are scared to run out of money.

00:07:19.680 --> 00:07:26.240
Okay, so it's essentially I'm thinking of I don't know, is it Luke uh 12, the parable of the rich fool?

00:07:26.639 --> 00:07:28.560
Like, I know what I'll do, I'll build bigger barns.

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You fool.

00:07:29.360 --> 00:07:34.879
You don't know what, yeah, you know, you're someone else is gonna get all the stuff that you saved up.

00:07:34.959 --> 00:07:35.519
Yeah, totally.

00:07:35.759 --> 00:07:39.199
And so if this is act literally like that, but at least they plan for it.

00:07:39.439 --> 00:07:43.680
So yeah, so it's so that same study, it's it's kind of ironic.

00:07:43.920 --> 00:07:54.480
So the same study says that hey, when people put a church or a charity in their will, that their actual current giving doubles.

00:07:54.959 --> 00:07:57.040
And so it's because they hadn't thought about it, right?

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So they start thinking about it and they become more intentional with it.

00:08:01.279 --> 00:08:10.240
So it's kind of ironic that like the way that you can increase your giving is by putting a church or what whoever in in your will, and it kind of gets it in front of mind.

00:08:11.120 --> 00:08:13.120
Um okay, that's that's well, hold on.

00:08:13.279 --> 00:08:14.399
I think you almost need to say that again.

00:08:14.480 --> 00:08:15.279
That's that's wild.

00:08:15.439 --> 00:08:22.000
So, for example, let's say the church did a, hey, we will pay for everybody here to have you do your estate planning.

00:08:22.079 --> 00:08:24.560
Yeah, just the mere act of that, they're like, huh, I never asked.

00:08:26.560 --> 00:08:33.200
This is like you're gonna actually have the people probably that have never given, yeah, just because they're looking at it and you probably ask the question, okay, yeah.

00:08:33.360 --> 00:08:35.279
So uh how much do you want to leave to your church?

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And they would be like, Oh yeah, I didn't even think about it.

00:08:38.000 --> 00:08:38.879
Is that kind of how that goes?

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Yeah, most people don't even know, or a lot of people don't even know that you can do that.

00:08:43.360 --> 00:08:43.679
Yeah.

00:08:43.840 --> 00:08:53.120
And so when they do that, it gets them thinking about, oh shoot, like I'm reminded to give to Wells Branch Church, you know, or whatever church.

00:08:53.600 --> 00:08:54.799
So tell me about this then.

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I this is just me just being unbelievably nosy into all your uh clients' lives.

00:08:59.279 --> 00:09:12.080
Uh, but what is about the what percentage are most of the people, and maybe you might be dealing with faith-filled people that are love Jesus all the way, but what what percentage that do most people give that you sort of run into?

00:09:12.720 --> 00:09:16.399
Yeah, most are around 10% that I work with.

00:09:16.559 --> 00:09:18.399
But the stats, I mean, you probably know the stats.

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They're like three.

00:09:19.360 --> 00:09:23.679
It's like yeah, it's like a quarter of people that give tithe.

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Right.

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Right.

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And so that's the minority.

00:09:27.279 --> 00:09:31.519
You know, it's probably 50 to 60 percent of members give anything.

00:09:31.679 --> 00:09:32.000
Right.

00:09:32.240 --> 00:09:36.320
And then, you know, a minority of those, 20 to 30 percent, actually tithe.

00:09:36.720 --> 00:09:44.159
I think what's really encouraging to me is that you're dealing with, you know, you're uh faith, I don't know, faith-based, is that way to put it?

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Faith-based wealth management.

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And so in, I don't know, implicit or within that is people are gonna have some sort of charitable understanding that they're already in involved with.

00:09:56.000 --> 00:09:58.320
So that's as a as a pastor, that's super encouraging.

00:09:58.480 --> 00:09:58.799
Totally.

00:09:59.039 --> 00:10:00.480
That like, hey, people are doing this.

00:10:00.639 --> 00:10:06.240
Because I think sometimes as a pastor, I hear all I hear is like, you know, most of your church probably gives like two percent, and so blah, blah, blah.

00:10:06.399 --> 00:10:09.360
And I'm like, no, I think actually people are being super generous.

00:10:09.519 --> 00:10:11.600
And I think that's a mis, yeah.

00:10:11.759 --> 00:10:16.720
I think that's a misconception that that um most Christians are greedy.

00:10:16.960 --> 00:10:17.120
Yeah.

00:10:17.360 --> 00:10:18.879
Like, I mean, you listen to it.

00:10:24.159 --> 00:10:26.399
You know, I'll bet you the most generous whatever.

00:10:26.799 --> 00:10:28.559
I think that's why people don't talk about it.

00:10:28.639 --> 00:10:28.879
Right.

00:10:29.039 --> 00:10:37.120
It's because like that's why it's so hard to get people to talk about it, is because there's just this whole guilt, you know, around money, and money is bad.

00:10:37.279 --> 00:10:37.519
Right.

00:10:37.679 --> 00:10:42.080
And and it's bad to have it, and you're probably not being generous, right?

00:10:42.240 --> 00:10:43.919
Because you should feel guilty all the time.

00:10:44.080 --> 00:10:45.679
So you should feel guilty all the time.

00:10:45.919 --> 00:10:50.720
And really giving is just a means to like satisfy your guilt.

00:10:50.799 --> 00:10:53.039
It's not really done in joy and joy.

00:10:53.360 --> 00:10:53.519
Okay.

00:10:53.600 --> 00:10:54.240
So talk to me.

00:10:54.320 --> 00:10:58.799
How do how do you let's I I'm sure you've had to run across somebody who like, I love Jesus, yes, I do.

00:10:58.879 --> 00:11:00.240
Hey, come do my wealth management.

00:11:00.320 --> 00:11:05.440
And you go, it looks like like how what was the talk, what would the conversation look like?

00:11:05.679 --> 00:11:09.039
Yeah, it starts with, I mean, it's like any other relationship.

00:11:09.200 --> 00:11:14.720
Like, you don't start out of the gate with like our first conversation is hey, you're not giving anything, right?

00:11:14.960 --> 00:11:16.720
Like it looks like I see your tax return.

00:11:16.879 --> 00:11:22.399
And um, and so it doesn't really happen like that, it just happens over time, like any other relationship.

00:11:22.559 --> 00:11:32.080
Yeah and it can even start with you bring up, you know, some type of um, you know, tax advantaged way to give, some technique.

00:11:32.320 --> 00:11:34.799
And so that opens the door to talk about it.

00:11:35.120 --> 00:11:38.480
Um but I don't know, it just kind of comes naturally.

00:11:38.879 --> 00:11:49.519
And I mean, that's part of why I started my firm is those are the types of clients that I like to work with, um, are not the ones that I'm having to twist their arm to give.

00:11:49.600 --> 00:11:50.559
It's just they naturally want to.

00:11:50.960 --> 00:11:53.039
Is there anybody that you have to like hey?

00:11:53.120 --> 00:12:03.919
Listen, I love the fact that you love your church or this organization, but I just from I know we believe in Jesus and I'm all for that, but it looks like you're gonna run out of money here.

00:12:04.080 --> 00:12:06.159
Like, has there ever been a time where you've had to do that with somebody?

00:12:06.399 --> 00:12:08.000
Yeah, I mean, not because of giving.

00:12:08.080 --> 00:12:09.919
Yeah, but yeah, I've had conversations.

00:12:10.639 --> 00:12:14.080
It's not because of giving, it's because of like, hey, you're really just you're eating out every day.

00:12:14.320 --> 00:12:14.879
Yeah, totally.

00:12:14.960 --> 00:12:18.320
They'll be spending too much money or are I mean, that's usually it.

00:12:18.399 --> 00:12:19.600
Like they're just spending more money.

00:12:19.840 --> 00:12:21.679
What do usually people spend too much money on?

00:12:21.919 --> 00:12:22.720
What retirement.

00:12:23.440 --> 00:12:24.879
So I'm just thinking of one cup.

00:12:24.960 --> 00:12:26.080
So it doesn't happen often.

00:12:26.320 --> 00:12:27.759
So it's usually the other way around.

00:12:27.919 --> 00:12:29.440
That's that's another kind of myth.

00:12:29.600 --> 00:12:30.080
Oh, okay.

00:12:30.320 --> 00:12:34.559
Is that you know, most people don't, I've never seen anybody run out of money in retirement.

00:12:34.799 --> 00:12:35.279
Oh, that's wild.

00:12:35.440 --> 00:12:35.759
Wow.

00:12:36.159 --> 00:12:41.600
Most people Well, that mo either A, it could so this could be you just you know not giving yourself enough credit.

00:12:41.759 --> 00:12:43.600
Like it could be because you're their financial advisor.

00:12:43.919 --> 00:12:44.720
That's probably the reason.

00:12:44.879 --> 00:12:45.679
Let's be honest.

00:12:46.000 --> 00:12:51.840
I mean, if you're if you're if like I've never had a client run out of money, I mean that is my job is to help that.

00:12:52.000 --> 00:12:55.200
But even like studies, like nobody really ever runs out.

00:12:55.360 --> 00:12:56.559
I mean, I I'd say that.

00:12:56.639 --> 00:12:59.600
I'm I'm sure there are people that run out of money, right?

00:12:59.759 --> 00:13:06.399
But most people that I work with in most of the studies that I see, like most people underspend.

00:13:06.720 --> 00:13:13.759
Like most people will spend like two percent of their portfolio a year, like if left to themselves.

00:13:13.919 --> 00:13:19.039
Oh and you know, a rough rule of thumb is like four percent to six percent.

00:13:19.200 --> 00:13:26.720
And so that's double to triple of what you could So most people are like, hey, I save this money up for my retirement.

00:13:26.799 --> 00:13:29.440
I'm re and then they're like, I can't spend it.

00:13:29.679 --> 00:13:31.200
I can't spend it because what if I run out?

00:13:31.440 --> 00:13:32.080
What if I run out?

00:13:32.159 --> 00:13:32.399
Yeah.

00:13:32.559 --> 00:13:34.879
So you've developed that muscle your whole life.

00:13:35.600 --> 00:13:36.399
Save, save, save.

00:13:36.480 --> 00:13:41.360
So now you just need to develop a spend that's so yes, you don't have a muscle to spend, right?

00:13:41.519 --> 00:13:42.960
That is gotta develop that.

00:13:43.120 --> 00:13:45.600
And so that's honestly what I spend a lot of my time.

00:13:46.159 --> 00:13:47.279
Convincing people to go spend money.

00:13:47.679 --> 00:13:52.720
Hey, you can spend money, like go out and like I spoke with a couple last week.

00:13:52.960 --> 00:14:01.440
Um, it was like he really wants a Ford Bronco, and they have the means to make cash and buy a Ford Bronco, and it doesn't do anything to their plan.

00:14:01.840 --> 00:14:07.279
Um, but they grew up um very frugal and just can't do it.

00:14:07.440 --> 00:14:20.000
And so I was like, well, just go to Turo and like rent a Bronco and see if you like a Bronco, like just try to move the needle a little bit to you know, spend some of the money that you have because you have plenty of of money.

00:14:20.080 --> 00:14:28.559
And so that's usually the way the conversations go is is most people don't realize how well off they are.

00:14:28.720 --> 00:14:30.639
Yeah, they don't realize how much they can save.

00:14:30.799 --> 00:14:35.600
Okay, so I know this is probably way down the line, but like how this and I'm sure you get asked this all the time.

00:14:35.919 --> 00:14:37.679
How much do I need to save?

00:14:37.840 --> 00:14:39.679
You know, like what's the magic number?

00:14:39.840 --> 00:14:45.279
Especially now, and I and obviously that's different on what's your standard of living and the whatever, whatever.

00:14:45.440 --> 00:14:47.759
But like, what's your general rule of thumb?

00:14:48.159 --> 00:14:50.639
So I actually built a calculator for this.

00:14:50.879 --> 00:14:51.919
Is this on like a website that's a good idea?

00:14:52.080 --> 00:14:52.879
It's on my website.

00:14:53.039 --> 00:14:53.360
Yeah.

00:14:53.679 --> 00:15:01.039
So another thing that's just kind of counterintuitive is the so you don't need to replace 100% of your paycheck in retirement.

00:15:01.120 --> 00:15:01.279
Okay.

00:15:01.440 --> 00:15:03.279
Like you're making$100,000 a year.

00:15:03.360 --> 00:15:03.440
Okay.

00:15:03.759 --> 00:15:05.919
You're not going to need to replace$100,000 of it.

00:15:06.159 --> 00:15:06.639
Why is that time?

00:15:06.799 --> 00:15:08.960
Like give me the Your mortgage goes away.

00:15:09.120 --> 00:15:11.120
You're used to saving 10 to 20%.

00:15:11.440 --> 00:15:13.519
Well, you don't have to save anymore because you're in retirement.

00:15:13.840 --> 00:15:15.440
Your kids are hopefully out of the house.

00:15:15.519 --> 00:15:15.679
Right.

00:15:15.840 --> 00:15:16.159
Right.

00:15:16.320 --> 00:15:19.200
So most of your expenses or a lot of your expenses go down.

00:15:19.440 --> 00:15:19.759
Of course.

00:15:19.919 --> 00:15:28.159
And so and then the more money you make, the less and less that percentage or the lower that percentage goes.

00:15:28.320 --> 00:15:34.639
So it's like, uh don't quote me, but$100,000, it's like, I don't know, 70% replacement.

00:15:34.720 --> 00:15:37.440
So you really need$70,000 a year.

00:15:37.679 --> 00:15:43.519
Um, but when you get up to like, you know, half a million dollars a year, you really only need about 50% of that.

00:15:43.679 --> 00:15:46.480
So$250,000 a year.

00:15:46.799 --> 00:15:49.840
And the portfolio doesn't need to replace all of that.

00:15:50.000 --> 00:15:50.159
Right.

00:15:50.320 --> 00:15:55.440
And so because you got Social Security, you've got a lot of people still have some type of pension.

00:15:55.679 --> 00:16:00.559
Um, and so so yeah, so it really just depends on what your income is.

00:16:01.200 --> 00:16:04.960
Really that transition of losing a mortgage, that's probably pretty pretty huge.

00:16:05.200 --> 00:16:05.919
Yeah, totally.

00:16:06.080 --> 00:16:11.039
I mean, that's you know, 10% to 15% usually of your of your income.

00:16:11.279 --> 00:16:17.200
Um, 10 to 15 to 20 percent again in savings that is not there anymore.

00:16:17.600 --> 00:16:20.320
Um again, kids are out, so so yeah.

00:16:20.480 --> 00:16:22.639
So it's hard to say what the actual number is.

00:16:22.799 --> 00:16:33.679
Most people in the you know, if you're making a hundred to it's gonna be in the million to you know, five million dollar range if you're talking, you know, you need two hundred and fifty thousand dollars a year.

00:16:33.840 --> 00:16:34.080
Yeah.

00:16:34.240 --> 00:16:36.480
And so so it really just depends.

00:16:36.799 --> 00:16:38.480
But um, but yeah.

00:16:38.879 --> 00:16:39.200
Okay.

00:16:39.600 --> 00:16:46.000
Uh all right, so let's let's get into some like where have you seen trends?

00:16:46.080 --> 00:16:51.759
Like if you look at American trend like spending, where where are people spending money?

00:16:52.720 --> 00:16:55.919
So uh travel is a big one.

00:16:56.320 --> 00:16:57.840
So is and is that a new thing?

00:16:58.080 --> 00:16:59.440
I guess is this like post-pandemic?

00:17:00.000 --> 00:17:00.960
Yeah, I don't know about that.

00:17:01.120 --> 00:17:05.920
I would think so, just because anecdotally, yeah, like our generation.

00:17:06.400 --> 00:17:08.720
I feel like everybody is traveling more than they've ever traveled.

00:17:09.200 --> 00:17:10.240
Yeah, yeah, totally.

00:17:10.480 --> 00:17:15.359
Uh or is that I'm at a certain age now where people just travel more because that's what they've always done.

00:17:15.680 --> 00:17:16.720
Yeah, I don't know.

00:17:16.880 --> 00:17:22.400
I really don't know what it is, but um I mean we have to travel more than say our grandparents did.

00:17:22.559 --> 00:17:25.200
Like I feel like I don't need a study to figure that out.

00:17:25.359 --> 00:17:26.559
To figure that out, right?

00:17:26.720 --> 00:17:36.880
Okay, but yeah, most people in retirement and you know, they're gonna travel, they're gonna go see their grandkids, they're gonna travel, you know, to Europe or or whatever.

00:17:37.119 --> 00:17:44.160
Um that's really yeah, that's really I guess the the big one that that is different between now and you know 50 years ago or whatever.

00:17:44.400 --> 00:17:44.720
Yeah, yeah.

00:17:44.799 --> 00:17:47.359
Okay, I'm gonna I'm gonna change gears.

00:17:47.519 --> 00:17:49.519
Go to let's talk about pastors.

00:17:49.599 --> 00:17:50.880
I always love talking about this.

00:17:51.279 --> 00:17:56.799
Uh I think we I was I was I came at the tail end and I really wanted to be there, but I I had another thing.

00:17:56.880 --> 00:18:05.200
But anyway, it was when you were talking about you know pastors and how complicated our income is just because of it's complicated.

00:18:05.440 --> 00:18:10.079
And uh, you know, guys that opt out of social security and like don't do that.

00:18:10.240 --> 00:18:13.119
Um so tell me, can we go over that again?

00:18:13.200 --> 00:18:16.720
Because I think that's one of those things that you can never go over enough for me.

00:18:17.279 --> 00:18:25.359
All right, so give me the scoop on so for pastors who opt out of social security because their conscience won't let them do that or whatever, right?

00:18:25.519 --> 00:18:34.880
Uh yeah, which they don't know that they had a conscience about that, but totally so talk to me about like what the just the reality there.

00:18:35.200 --> 00:18:43.839
Yeah, I mean, to your point, most so to opt out of social security, the form says you've got to be a conscient, basically a conscientious objector, right?

00:18:43.920 --> 00:18:44.319
Right.

00:18:44.559 --> 00:18:48.720
Um I I haven't met any pastor, like that's for like the Amish.

00:18:49.119 --> 00:18:51.599
Like, you know, like that's really what that was made for.

00:18:52.000 --> 00:18:56.559
Um but because it's a social insurance, that's what social security is.

00:18:56.720 --> 00:18:56.880
Right.

00:18:57.039 --> 00:19:05.279
And so if your conscience objects to social insurance, then that's why you that's the only reason you can opt out of social security.

00:19:05.359 --> 00:19:18.880
Not because you think it's not run well or not because it's because you don't want to pay for whatever similar to where the Amish don't have insurance, they barn burns down, they like go build another one, they go build another one with the community, right?

00:19:18.960 --> 00:19:19.119
Right.

00:19:19.279 --> 00:19:20.319
The community is their insurance.

00:19:20.400 --> 00:19:21.839
So that's the idea behind it.

00:19:22.000 --> 00:19:27.599
Um but I don't know, probably half of the pastors that I've met with oh yeah have opted out.

00:19:27.839 --> 00:19:30.960
Um and well, I think we were just told that's just what you do.

00:19:31.039 --> 00:19:31.680
I was like, all right.

00:19:32.000 --> 00:19:41.279
Yeah, usually it's like an elder or someone that that is well meaning, but you know, doesn't understand the ramifications of like you've opted out.

00:19:41.599 --> 00:19:43.039
So now what does that mean?

00:19:43.359 --> 00:19:45.680
So that means you don't get social security.

00:19:45.839 --> 00:19:48.640
Um except for some important caveats.

00:19:48.799 --> 00:19:50.480
I was gonna say loopholes, but caveats.

00:19:50.799 --> 00:19:53.119
Okay, uh way better.

00:19:53.440 --> 00:19:55.920
Way more ethical to say uh caveat versus a loopholes.

00:19:56.160 --> 00:20:00.319
So um, so yeah, it means you don't get social security on your pastoral earnings.

00:20:00.640 --> 00:20:06.880
So if you never have another job besides being a pastor and you've opted out, then you will not get social security.

00:20:07.039 --> 00:20:07.359
Right.

00:20:07.599 --> 00:20:16.400
Um, but the two caveats are most pastors have some type of secular, like I know you have you know some secular social security earnings.

00:20:16.559 --> 00:20:16.880
Yeah.

00:20:17.119 --> 00:20:20.000
Um, and so those don't go away.

00:20:20.160 --> 00:20:21.279
You still get those.

00:20:21.440 --> 00:20:24.000
Um, so it'll be a reduced amount.

00:20:24.240 --> 00:20:24.480
Yeah, yeah.

00:20:24.720 --> 00:20:39.519
Um, but then another important caveat is if your spouse is qualified for social security and you haven't ever paid a dime and you opted out, you've never paid a dime in, you still get half of your spouse's social security.

00:20:39.599 --> 00:20:40.000
Oh, wow.

00:20:40.160 --> 00:20:44.960
So if your spouse gets four thousand dollars a month, you're entitled to an additional two thousand dollars.

00:20:45.279 --> 00:20:45.759
Whoa, whoa, whoa.

00:20:46.000 --> 00:20:46.559
So six thousand.

00:20:46.799 --> 00:20:47.599
How is that even possible?

00:20:47.759 --> 00:20:49.599
So okay, this is uh this is all right.

00:20:49.680 --> 00:20:54.720
So let's say my spouse has a job and she makes whatever, and at the end of it, she gets four grand.

00:20:54.960 --> 00:20:55.119
Yeah.

00:20:55.440 --> 00:20:57.440
On top of the four grand, I get two.

00:20:57.759 --> 00:20:59.039
That's called the spousal benefit.

00:20:59.119 --> 00:20:59.279
Yeah.

00:20:59.519 --> 00:21:00.400
Do you have to apply for that?

00:21:00.640 --> 00:21:01.039
You do.

00:21:01.200 --> 00:21:01.519
Okay.

00:21:01.680 --> 00:21:01.920
Yeah.

00:21:02.160 --> 00:21:02.960
I would probably never know that.

00:21:03.359 --> 00:21:04.160
You have to apply for it.

00:21:04.240 --> 00:21:09.680
You have to apply for it after your spouse applies, then you're free to apply for your spousal benefit.

00:21:09.920 --> 00:21:12.319
And it's 50% of that's wild.

00:21:12.480 --> 00:21:15.119
So yeah, it's it's a lot of people don't know that.

00:21:15.279 --> 00:21:26.720
A lot of people think that it's when you say half, that means that your spouse would get 4,000 and that cuts their benefit in half to 2,000 and you get the other 2,000, but that's not what that means.

00:21:27.039 --> 00:21:27.279
All right.

00:21:27.359 --> 00:21:30.799
So let's get beyond the ethical issue of uh conscious objective.

00:21:31.759 --> 00:21:37.039
If you objected to but you don't object to getting it from your spouse, I don't know how you square that.

00:21:37.359 --> 00:21:38.400
Yeah, that's wild.

00:21:38.559 --> 00:21:38.880
Okay.

00:21:39.039 --> 00:21:40.559
Uh that's crazy.

00:21:40.720 --> 00:21:41.440
Okay, but all right.

00:21:41.519 --> 00:21:52.079
So um, but beyond that, but you would probably say that if you had control of your own money, you would make way more money investing it as opposed to trusting the government.

00:21:52.400 --> 00:21:52.799
Totally.

00:21:52.880 --> 00:21:53.119
Right.

00:21:53.279 --> 00:21:56.640
But it's not the way I see it, it's not an investment, it's insurance.

00:21:56.880 --> 00:21:57.119
Right.

00:21:57.359 --> 00:21:59.039
And so that's it's in the name.

00:21:59.279 --> 00:22:00.559
That is helpful, right?

00:22:00.880 --> 00:22:03.359
The Social Security and Disability Insurance.

00:22:03.519 --> 00:22:04.559
Um Is that what it's called?

00:22:04.720 --> 00:22:05.440
I just think so.

00:22:05.680 --> 00:22:06.240
I mean, that makes sense.

00:22:07.839 --> 00:22:10.640
Uh no, no, I mean, but like SSDI.

00:22:10.799 --> 00:22:13.359
Insurance is somewhere in the uh name.

00:22:13.519 --> 00:22:16.960
I mean, if you were to ask me what is Social Security, I'd be like, it's your retirement.

00:22:17.119 --> 00:22:21.920
And it's not, it's insurance if you get disabled or something happens.

00:22:22.319 --> 00:22:25.519
Or if you can't provide for yourself after you can't work anymore.

00:22:25.680 --> 00:22:27.200
That's the entire point of it.

00:22:27.359 --> 00:22:28.720
That's why it was started.

00:22:28.880 --> 00:22:34.960
That's why it's so it's it it wasn't meant to be a replacement or even a retirement right, you know, supplement.

00:22:35.119 --> 00:22:35.359
Right.

00:22:35.519 --> 00:22:39.839
It was to make sure that you didn't run out of money when you can't work anymore.

00:22:40.079 --> 00:22:44.240
Um, and so it's obviously turned into more than that.

00:22:44.400 --> 00:22:45.839
Um that's interesting.

00:22:46.079 --> 00:22:49.200
But yeah, so that's why I don't see it as an investment.

00:22:49.599 --> 00:22:52.319
Um because it's not, it's it's insurance.

00:22:52.480 --> 00:22:52.640
Right.

00:22:52.799 --> 00:22:55.119
So okay fascinating.

00:22:55.200 --> 00:22:55.359
Yeah.

00:22:55.680 --> 00:23:00.880
And you can't can you collect social security uh uh before you actually retire?

00:23:00.960 --> 00:23:01.599
Does you know what I mean?

00:23:01.680 --> 00:23:03.920
Like let's say you're still working, but you're you're seven.

00:23:04.319 --> 00:23:05.200
It'll get reduced.

00:23:05.359 --> 00:23:11.920
So yeah, if you file and then you just keep working, yeah, it gets reduced by a certain there's a percentage if you make over.

00:23:12.400 --> 00:23:21.039
Because it seems like, you know, because it can get reduced to zero if you just file just to get money from social security and then you just go back to work.

00:23:21.200 --> 00:23:21.519
Right.

00:23:21.680 --> 00:23:22.079
Right.

00:23:22.400 --> 00:23:24.799
Then they're like, Yeah, you can't really do that.

00:23:25.119 --> 00:23:25.440
Okay.

00:23:25.599 --> 00:23:26.000
Wow.

00:23:26.240 --> 00:23:26.559
Okay.

00:23:26.799 --> 00:23:28.720
Man, that that's a lot to right.

00:23:29.039 --> 00:23:33.759
What happens if you're a you were a conscientious objector, but then you decide not to be a conscientious objector?

00:23:34.000 --> 00:23:34.720
There's not a lot you can do.

00:23:34.960 --> 00:23:39.039
Oh, so when they once once a conscientious objector, always a conscientious objector.

00:23:39.279 --> 00:23:48.240
So yeah, there actually there's been a couple bills proposed to allow pastors back into social security, but um as far as I know, none of those.

00:23:48.720 --> 00:23:52.319
I may or may not have been a person that just said, Oh, okay, check here if sounds good.

00:23:52.400 --> 00:24:02.559
I yeah, you know, I didn't really Yeah, no, the way it usually happens is you're 25, you someone at your board is like, hey, you check this thing and you don't have to pay tax.

00:24:02.799 --> 00:24:04.720
And you're like, and you're like, I need the money.

00:24:05.119 --> 00:24:08.720
And so you check it and then you don't pay Social Security.

00:24:09.119 --> 00:24:10.000
And then you forget.

00:24:10.160 --> 00:24:11.119
This is what I see.

00:24:11.200 --> 00:24:18.319
Yeah, I'll say a lot, but you know, frequently is you forget or don't contribute to retirement.

00:24:18.480 --> 00:24:18.640
Right.

00:24:18.799 --> 00:24:21.440
And so you're then you're really behind the eight ball there.

00:24:21.680 --> 00:24:26.880
Yeah, thankfully I I just took it from one and put it straight to the next.

00:24:26.960 --> 00:24:27.680
Yeah, so it was good.

00:24:27.839 --> 00:24:28.400
Anyway.

00:24:28.720 --> 00:24:29.839
All right, that's good to know.

00:24:30.000 --> 00:24:30.319
Yeah.

00:24:30.559 --> 00:24:31.599
There we go.

00:24:33.519 --> 00:24:34.319
All right, all right.

00:24:34.400 --> 00:24:37.519
So let's get into some temptation that high achievers get to.

00:24:37.599 --> 00:24:39.200
Let's go, let's talk about your high achievers.

00:24:39.279 --> 00:24:40.559
The temptation is what?

00:24:41.200 --> 00:24:41.839
Oh man.

00:24:42.079 --> 00:24:46.960
So you would say because earlier we were saying it it would have been just like to hoard it, like to not spend anything.

00:24:47.200 --> 00:24:51.519
So it's yeah, so it depends on the phase.

00:24:51.680 --> 00:25:01.519
I mean, the high achievers, like before retirement, um, they're so busy, you know, that like you you get this.

00:25:01.839 --> 00:25:08.480
In my experience, the ones that are are high income, high achievers, like they're doing really well at what they do.

00:25:08.960 --> 00:25:15.920
Um they're so busy doing that thing that they really don't have time or desire.

00:25:16.079 --> 00:25:20.160
Like, they're not greedy, I guess is what I'm getting at, where it's just like I want more, I want more.

00:25:20.240 --> 00:25:29.759
It's like they're just really good at the thing that they do, and that takes up all their time because the people that are paying them to do it want that time because they're good at it, right?

00:25:29.920 --> 00:25:33.359
And so they just don't have time to focus on it.

00:25:33.440 --> 00:25:35.599
And so I don't know if that's a temptation.

00:25:35.920 --> 00:25:40.559
Um, but I would say that's the they don't have time to focus on it.

00:25:40.640 --> 00:25:42.400
I get that that makes sense.

00:25:42.720 --> 00:25:46.319
I mean, but isn't that why you kind of hire a wealth manager?

00:25:46.480 --> 00:25:46.720
Yeah.

00:25:47.119 --> 00:25:50.160
So this is one big infomercial for me.

00:25:50.400 --> 00:25:51.440
Yeah, but hold on.

00:25:51.759 --> 00:25:52.799
Great question, Chris.

00:25:53.119 --> 00:25:56.400
You are it! All right, so so tell me, like, that's the problem, right?

00:25:56.480 --> 00:25:57.440
They don't ever think about it.

00:25:57.519 --> 00:25:59.119
And so you need to pay somebody to think about it.

00:25:59.200 --> 00:26:01.039
And so talk to me why totally.

00:26:01.200 --> 00:26:09.039
So, but on the to your, you know, on the the temptation piece, they'll neglect the generosity piece too.

00:26:09.279 --> 00:26:16.799
Rather than being intentional with their generosity, they'll still give because they know they have to or are supposed to, right?

00:26:16.960 --> 00:26:23.359
And they feel the weight of you know, of having the the wealth that they have.

00:26:23.519 --> 00:26:33.759
Um, like I can think of a doctor client that I worked with, and he literally would break down in tears when he would talk about stewarding what God had given him.

00:26:33.839 --> 00:26:33.920
Yeah.

00:26:34.160 --> 00:26:35.759
Like he felt the weight of that.

00:26:36.000 --> 00:27:14.640
And so, um, but I would say just being intentional with with their generosity, you know, like um what are the things that the spirits led you, like that you're passionate about, the that that you're convicted of, um, and you know, what to say yes to, which also gives you permission to say no to things because that's kind of another um unspoken, you know, burden, I guess, of the wealthy is like the people at charities know those pe know that they're wealthy, so they get hit up more than you know, the average person.

00:27:14.720 --> 00:27:14.960
Right.

00:27:15.119 --> 00:27:20.000
And so it's hard to say no to charities when when they ask, right?

00:27:20.240 --> 00:27:41.279
And so so I guess to your to your question, like being intentional about their giving just because from a time standpoint they haven't thought about it, and really being intentional about where it's going, experiencing the joy that I think that God wants us to have, you know, by aligning our money with our passions and and convictions.

00:27:41.519 --> 00:27:45.519
So that's kind of a you know roundabout answer to your question.

00:27:45.839 --> 00:27:47.279
At what point does someone need to call you?

00:27:47.440 --> 00:27:58.319
Like I, you know, I'm just thinking, like, if I were to come to you, I'd be like, listen, I don't really have enough for you to really uh Yeah, there's gotta be the what's the what's the number?

00:27:58.480 --> 00:27:59.279
Is there a number?

00:27:59.440 --> 00:28:09.119
Like Yeah, probably so so it's when the complexity like warrants like there's enough stuff there for me to do something with right to help.

00:28:09.359 --> 00:28:10.880
So like is that like a million dollars?

00:28:11.599 --> 00:28:15.440
So from an investment standpoint, it's like a million and above.

00:28:15.759 --> 00:28:20.400
Um, but then there's some people that have high incomes that don't have you know that yet.

00:28:20.480 --> 00:28:27.200
So I would say 300,000 and above um is when the complexity goes up, right?

00:28:27.359 --> 00:28:32.240
Just whether you like it or not, like the more money you make, the more complex things get.

00:28:32.559 --> 00:28:36.799
Are you dealing with stuff like, hey, let me tell you how you can get the most out of your money?

00:28:36.960 --> 00:28:40.480
Like here's here's a tax caveat for you to experience.

00:28:40.559 --> 00:28:42.079
Yeah, is that there's some of that.

00:28:42.240 --> 00:28:43.119
So there's some of that.

00:28:43.279 --> 00:28:56.000
A lot of it really is just being intentional about like, okay, so the people that are the high income people, for example, you know, they're making$500,000 a year.

00:28:56.160 --> 00:29:00.000
Again, they're really good at the thing that they do, so they don't have a lot of time to focus on it.

00:29:00.160 --> 00:29:05.200
And usually if you're making that level of income, you're not getting it on a bi-weekly check.

00:29:05.279 --> 00:29:05.519
Right.

00:29:05.680 --> 00:29:05.920
Right?

00:29:06.000 --> 00:29:08.240
It comes in and lumps, you know, right.

00:29:08.319 --> 00:29:09.519
You get$150,000.

00:29:10.000 --> 00:29:16.000
And look, for example, our church, we just got some, I don't know who it is, we don't know who gives what, but somebody just gave$150,000.

00:29:16.160 --> 00:29:17.599
And it's like, where did that come from?

00:29:17.839 --> 00:29:18.079
Totally.

00:29:18.319 --> 00:29:20.240
Uh and then next week it's like nothing.

00:29:20.400 --> 00:29:23.680
But like, you know, or so just helping them be intentional with that.

00:29:23.759 --> 00:29:25.599
Like they have a big cash event, yeah.

00:29:25.680 --> 00:29:27.279
You know, they've got a couple hundred thousand.

00:29:27.359 --> 00:29:28.559
Well, what do we do with this?

00:29:28.640 --> 00:29:31.200
You know, like we make sure our emergency funds are funded.

00:29:31.440 --> 00:29:34.559
Like we have a tax bill that's coming up, like we don't want to spend that.

00:29:34.799 --> 00:29:38.319
You need to remodel your home, any generosity goals that you have.

00:29:38.559 --> 00:29:41.839
And then what's left over is okay, we'll we'll look at investing this.

00:29:42.319 --> 00:29:45.920
And so a lot of it is just that, like helping people stay on top of that.

00:29:46.079 --> 00:29:51.359
I mean, yeah, there's some, you know, advanced planning maneuvers that we do.

00:29:51.519 --> 00:29:58.640
Um, but a lot of it is just kind of helping people stay intentional, like helping them define what their goals are.

00:29:58.960 --> 00:29:59.119
Um

00:30:00.160 --> 00:30:01.839
People's normal like I know this sounds like a weird one.

00:30:01.920 --> 00:30:07.839
Is is like what are the goals people should have, like college or like what are the things that you kind of help people?

00:30:08.400 --> 00:30:17.599
Yeah, college, buying a home, yeah, funding retirement, you know, buying a car, a vacation home, like those sorts of things.

00:30:17.759 --> 00:30:28.880
Um, all the way to you know, when you get in retirement and you know, you've now got the wealth to be able to help your kids, like helping your kids with a down payment on a house.

00:30:29.119 --> 00:30:31.759
A big one is grandkids education.

00:30:32.000 --> 00:30:37.279
Like that's a big like they'll help fund what's called a five two nine plan, so a college funding plan.

00:30:37.359 --> 00:30:37.680
Yep.

00:30:37.920 --> 00:30:47.920
So that's one of the you know favorite things that grandparents do is they'll contribute to the five two nine and maybe even fully fund a kid's college, which is wild, which is exciting.

00:30:48.240 --> 00:30:59.599
Um have you seen people I the what I thought was really interesting is that you haven't seen people overspend.

00:31:00.079 --> 00:31:05.039
Not usually, and I and to be fair, if they're coming to you, they're probably have that under control.

00:31:05.119 --> 00:31:11.759
But is there ever finding we have like the spender and the saver and oh yeah, like one spouse is usually right on top of it.

00:31:12.079 --> 00:31:27.119
So I was because that to me was like, what this is crazy, like nobody's overspending, like what yeah, no, I mean, I won't say nobody's overspending, but most people fundamentally are worried about running out of money or security.

00:31:27.279 --> 00:31:52.960
Okay, right, and so um so I yeah, even the spenders, yeah, like when you get to the point usually where you're working with with me, like at least until you know, at retirement, like it's I won't say it's hard to to spend, but most people I have to again coach them to like you can spend more, and not just you can spend more, like you can be more generous, right?

00:31:53.119 --> 00:31:56.079
Like, like why wait until the end of your life?

00:31:56.319 --> 00:31:56.960
Yeah, I love that.

00:31:57.119 --> 00:31:59.039
So let's let's let's kind of get into that just a little bit more.

00:31:59.200 --> 00:32:00.720
Like what do you mean by that?

00:32:00.880 --> 00:32:05.119
Because like, because some would say, like, well, I don't want to run out, and you never know what could happen.

00:32:05.200 --> 00:32:08.960
Because I think I think if if if my mom's listening, I think that she would be in this category.

00:32:09.200 --> 00:32:12.000
Like, I listen, I think the church is awesome.

00:32:12.160 --> 00:32:15.680
Man, love the church, and you guys should have all the money when I pass away.

00:32:15.839 --> 00:32:24.559
But for right now, yeah, like I I don't know if I'm gonna have a major some sort of something, and I I'm living in in a little bit of fear of that.

00:32:24.720 --> 00:32:26.319
I think that's where a plan comes in.

00:32:26.400 --> 00:32:29.599
Again, this is the infomercial uh part of this, yeah.

00:32:29.920 --> 00:32:35.680
But I mean, if you don't have a plan, it's kind of you probably should be scared because you just don't know.

00:32:35.759 --> 00:32:37.039
You're flying blind, right?

00:32:37.200 --> 00:32:37.519
Yeah, yeah.

00:32:37.680 --> 00:32:50.480
And so, but assuming you have a plan and it shows you like you got a lot of margin for error here, then that's when you can move into like, okay, well, how much margin of error do I have?

00:32:50.559 --> 00:32:50.720
Right.

00:32:50.880 --> 00:33:05.680
And that's where you get into the like, okay, this is a heart thing where you're scared, you're looking for security, and you know, the the problem is there's not secure, like you're never going to be out of the woods.

00:33:05.839 --> 00:33:09.200
Like there's never a period in your life where you're out of the woods, right?

00:33:09.680 --> 00:33:12.720
If the market's up, it's up too much, right?

00:33:12.880 --> 00:33:14.000
And we're about to correct.

00:33:14.160 --> 00:33:14.319
Right.

00:33:14.480 --> 00:33:16.960
If it's down, well, that's self-explanatory.

00:33:17.039 --> 00:33:18.480
Like people are scared, right?

00:33:18.640 --> 00:33:21.359
So there's never a time where you're out of the woods.

00:33:21.440 --> 00:33:25.039
And so people are are looking for that.

00:33:25.119 --> 00:33:28.799
Like, well, when I get out of the woods, then I'll spend more, give more.

00:33:28.880 --> 00:33:28.960
Okay.

00:33:29.519 --> 00:33:31.599
Let me ask you this because you just brought something up really important.

00:33:31.839 --> 00:33:34.160
What's the big stock you're picking right now?

00:33:35.039 --> 00:33:39.200
I'm legally obligated to not answer that question.

00:33:39.839 --> 00:33:41.519
I think that's the fifth.

00:33:41.680 --> 00:33:42.000
Yeah, yeah.

00:33:42.079 --> 00:33:43.200
So, okay, what about this?

00:33:43.519 --> 00:33:46.960
At our church specifically, I think we have a lot of people going this route of crypto.

00:33:47.119 --> 00:33:47.759
Give me your thoughts.

00:33:47.839 --> 00:33:48.000
Okay.

00:33:48.160 --> 00:33:49.279
Give me your thoughts on crypto.

00:33:49.519 --> 00:33:53.759
So give me the like, is are you a f don't do it, or are you like, let's go, crypto.

00:33:54.079 --> 00:33:58.720
So um I I'm not a fan of crypto.

00:33:59.039 --> 00:34:04.960
Um my problem with it is it doesn't generate any cash.

00:34:05.200 --> 00:34:05.440
Okay.

00:34:05.599 --> 00:34:06.000
Right.

00:34:06.240 --> 00:34:08.000
So it's like a stock in a way.

00:34:08.239 --> 00:34:09.599
Well, stocks generate cash.

00:34:09.760 --> 00:34:12.639
Stocks are a portion of a company that you own.

00:34:12.880 --> 00:34:13.440
Okay, fair enough.

00:34:13.519 --> 00:34:13.760
You're right.

00:34:14.079 --> 00:34:18.400
That have a product that people buy that generate cash.

00:34:18.639 --> 00:34:24.639
And so therefore, you can, I mean, the conversation we're having right now is are stocks overvalued?

00:34:24.800 --> 00:34:24.960
Right.

00:34:25.119 --> 00:34:29.599
Well, the only way you even have that conversation is they generate cash.

00:34:29.760 --> 00:34:30.000
Right.

00:34:30.159 --> 00:34:33.679
If there's no cash, you never know if anything's overvalued or not.

00:34:33.760 --> 00:34:33.840
Right.

00:34:34.079 --> 00:34:34.159
Right.

00:34:34.239 --> 00:34:34.400
Yeah.

00:34:34.639 --> 00:34:41.039
And so crypto, you know, is is it a good store of value?

00:34:41.280 --> 00:34:44.079
Like store value means like like our dollar.

00:34:44.239 --> 00:34:44.400
Right.

00:34:44.559 --> 00:34:49.440
I we we lose our minds, right, at inflation when it's at five percent.

00:34:49.599 --> 00:34:49.760
Right.

00:34:49.920 --> 00:34:53.119
That means your dollar has lost five percent of its value.

00:34:53.440 --> 00:34:58.159
Bitcoin is up twenty percent in a day or down twenty percent in a day, right?

00:34:58.480 --> 00:35:01.360
And so, so it's not a good store of value.

00:35:01.599 --> 00:35:09.199
Like my my Bitcoin that I have, or my fraction of the Bitcoin that I have today, I have no idea what it's gonna be worth.

00:35:09.360 --> 00:35:15.679
It could be worth, it will be worth something different between when I leave my house to when I try to go purchase something with it, right?

00:35:16.159 --> 00:35:16.880
Uh okay.

00:35:17.039 --> 00:35:30.559
So so that means, listen, it's a great in theory that we're all gonna be walking around with like, you know, Bitcoining people, but you might Bitcoin and you thought you had enough to pay for it, and actually now you only have half because it just dropped 20%.

00:35:36.239 --> 00:35:39.440
Like again, there's no cash flow on it.

00:35:39.599 --> 00:35:44.800
So the only the only way, and I'm sure maybe this will be where you get some comments.

00:35:45.119 --> 00:35:52.719
Well, yeah, I'm gonna get a ton of comments here because it feels like the problem is we lost everybody when we started talking past their finances.

00:35:53.119 --> 00:35:55.920
So if we would have led with crypto, like we would have all right.

00:35:56.000 --> 00:35:56.719
So let's get into crypto.

00:35:56.880 --> 00:36:08.559
Like, I feel like this is the thing where like the people that are in crypto, they would say, like, listen, it's like guaranteed over time this is gonna like the people that jumped on the XRP bandwagon early are like, what's up?

00:36:09.599 --> 00:36:11.760
So yeah, so right now they're right.

00:36:11.920 --> 00:36:15.280
Like the Bitcoin people are up a thousand percent, right?

00:36:15.840 --> 00:36:18.079
And so it's hard to argue with that.

00:36:18.239 --> 00:36:24.880
And so that's why like some advisors hold some in their portfolios just because it's gone up so much.

00:36:25.039 --> 00:36:31.519
Like I don't, and again, I have to say, like, this is not me making a repping recommendation for Bitcoin or not.

00:36:31.760 --> 00:36:36.000
Um but uh but I don't just because of what I just said.

00:36:36.239 --> 00:36:41.360
Like it it doesn't really, I don't know what purpose it serves in my in my portfolio.

00:36:41.760 --> 00:36:53.840
Okay, so but what people would say, hey, the thing that's nice about you know bitcoins, you can't or any crypto is it's not influenced by governments trying to inflate their currency so that um they can print more money.

00:36:54.000 --> 00:36:56.159
You can't print more money, so to speak.

00:36:56.400 --> 00:36:56.639
Right?

00:36:56.719 --> 00:37:00.719
Yeah, is that is that true, or am I just like this is the part where I'm more of a crypto novice.

00:37:00.960 --> 00:37:04.719
Well, so so yes, I I'm not a crypto expert either.

00:37:04.960 --> 00:37:12.559
From what I've heard, like countries like Iran are using crypto to get around the financial system, right?

00:37:13.199 --> 00:37:23.119
And so it's really like a way to try to get around the like because the all the other money can be tracked, whereas this is sort of more right.

00:37:23.280 --> 00:37:25.760
So again, don't quote me on that.

00:37:26.000 --> 00:37:32.159
You can cut this out if your fact checkers decide that this is because I know you got a hefty fact checker team.

00:37:32.400 --> 00:37:32.800
Yeah, I do.

00:37:32.880 --> 00:37:34.960
The whole team back there is right busy working.

00:37:35.039 --> 00:37:40.159
They're like they got you know, Grok and ChatGPT working really extra hard right now to fact check you.

00:37:40.400 --> 00:37:40.559
Yeah.

00:37:40.719 --> 00:37:42.079
Um, okay, so that that's good no.

00:37:42.320 --> 00:37:46.559
So but let's say um so do you have any I don't own.

00:37:46.639 --> 00:37:47.119
Well, okay.

00:37:47.360 --> 00:37:49.280
Come on, we this full transparency here.

00:37:49.360 --> 00:37:51.920
What do we say I don't own any crypto?

00:37:52.079 --> 00:37:57.360
At one point, someone gave me crypto for doing uh premarital counseling.

00:37:57.599 --> 00:38:03.199
It was not a bit it was not one Bitcoin, it was like one one millionth of a bitcoin or something like that.

00:38:03.440 --> 00:38:08.000
So this was like five years ago, seven years ago, and it was on a piece of paper.

00:38:08.239 --> 00:38:12.079
And so I was like, oh, this is a digital currency.

00:38:12.239 --> 00:38:16.719
I don't need the piece of paper, it's somewhere like in the internet somewhere.

00:38:16.960 --> 00:38:28.159
And so I lost the piece of paper, and I don't know where I did with the piece of paper, and I don't have any Bitcoin, so so yeah.

00:38:28.400 --> 00:38:32.239
So I thought like it was a digital currency, like it's on the internet somewhere.

00:38:32.480 --> 00:38:36.159
Yeah, well, like yeah, I guess, yeah, how would yeah, that's funny.

00:38:36.400 --> 00:38:39.280
Yeah, so I guess I do somewhere, maybe in my house.

00:38:39.360 --> 00:38:41.840
But yeah, I mean they'd have to put it in your name, right?

00:38:42.320 --> 00:38:43.280
Yeah, maybe.

00:38:43.440 --> 00:38:44.400
Oh all right.

00:38:44.880 --> 00:38:49.920
Okay, so talk to me about what okay, life for you with ministry looks like.

00:38:50.320 --> 00:38:54.880
Give me your like ministry with the neighborhood, ministry like at church.

00:38:55.039 --> 00:39:02.639
Where where or or is you know your your role in your um as a as a wealth management person?

00:39:02.800 --> 00:39:04.960
Tell me about like what what ministry looks like for you.

00:39:05.199 --> 00:39:05.840
Yeah, totally.

00:39:06.000 --> 00:39:09.119
So we go to Hill Country Bible Church, Lake Line.

00:39:09.280 --> 00:39:10.320
I think it's called Lake Line.

00:39:10.719 --> 00:39:11.119
Austin, yeah.

00:39:11.760 --> 00:39:13.599
I'm sorry, Hill Country Austin.

00:39:14.000 --> 00:39:16.719
Uh Hill Country Bible Church Austin.

00:39:16.960 --> 00:39:18.880
Um and Tim Cool's pastor in there.

00:39:19.119 --> 00:39:19.760
Tim Cool's pastor.

00:39:20.159 --> 00:39:20.800
Love Tim.

00:39:21.199 --> 00:39:25.840
Um and we have a small group that meets in our you know neighborhood.

00:39:26.559 --> 00:39:30.800
And um we have some people that go to Hill Country, some people that don't.

00:39:30.960 --> 00:39:38.960
I'm kind of a rogue uh small group uh leader where like half of us are at hill country and half of us or half of them aren't.

00:39:39.199 --> 00:39:43.519
Um so uh not that everybody has to be going to the church to go to the small group, right?

00:39:44.000 --> 00:39:46.320
Um but yeah, so lead a small group.

00:39:46.639 --> 00:39:52.239
Um we go to Brushy Creek sports with with your kids and it's so funny.

00:39:52.639 --> 00:39:53.360
See you there.

00:39:53.599 --> 00:40:09.280
Um try to be a good neighbor, uh, just as far as like, you know, sadly, one of our neighbors just passed away last week, um, you know, was pretty um disconnected from the like kept to themselves, you know.

00:40:09.440 --> 00:40:16.719
So we've you know been taking them things and and and um praying for them and and that sort of thing.

00:40:16.880 --> 00:40:18.800
And so I don't know, it's really just natural.

00:40:18.960 --> 00:40:24.880
Like um there's not an official Jake and Lauren Ridley like ministry plan.

00:40:24.960 --> 00:40:33.679
It's just like we've got a dog that requires us to she's a Springer Spaniel and we walk her like four times a day because she has a ton of energy.

00:40:33.760 --> 00:40:43.920
Yeah, we meet people when we walk our dog, and like there's at least one person, maybe several in our small group that are there because we were walking our dog and invite them to a small group.

00:40:44.079 --> 00:40:44.719
Yeah, how does that work?

00:40:44.800 --> 00:40:47.440
So you walk in your dog and give me your like your pitch.

00:40:48.320 --> 00:40:50.800
Hey, I showed him the bridge diagram.

00:40:51.360 --> 00:40:52.719
Well, literally, I was at the HB.

00:40:52.880 --> 00:40:54.000
Do you go to the H T B on 620?

00:40:54.159 --> 00:40:54.400
Right there.

00:40:54.480 --> 00:40:58.960
So I go to the HB and this guy in the parking lot goes, Hey, I go, Hey, he goes, Do you want to come to my Bible study?

00:40:59.119 --> 00:41:00.880
I was like, No, but thanks for the offer.

00:41:00.960 --> 00:41:02.239
I mean, that's that's awesome.

00:41:02.400 --> 00:41:04.079
Yeah, so is that your technique?

00:41:04.239 --> 00:41:11.920
So yeah, I'm not that that blunt and bold, but no, we just saw, we just kept seeing the same people walking and we just get to talking with them.

00:41:12.000 --> 00:41:17.440
And you know, I think one of them was going through something in their life, um, maybe a divorce.

00:41:17.599 --> 00:41:22.320
And so we invited her to the to the small group and she started coming.

00:41:22.400 --> 00:41:25.599
And so um, so I don't know, it's just kind of natural like that.

00:41:25.840 --> 00:41:26.800
Yeah, that's good.

00:41:27.039 --> 00:41:30.079
All right, and so um where do your kids go to school?

00:41:30.239 --> 00:41:31.199
They go to Fern Bluff.

00:41:31.280 --> 00:41:33.280
Okay, so actually, my daughter goes to Chisholm.

00:41:33.440 --> 00:41:34.400
Were your kids go to Chisholm?

00:41:34.480 --> 00:41:35.519
No, they go to Cedar Valley.

00:41:35.599 --> 00:41:35.840
Okay.

00:41:36.000 --> 00:41:37.840
So my oldest goes to Cedar Valley.

00:41:37.920 --> 00:41:39.280
Okay, and you have one at Chisholm.

00:41:39.360 --> 00:41:39.599
Yep.

00:41:39.840 --> 00:41:43.360
Chisholm, that's wild because Cedar Valley is north of Chisholm, right?

00:41:43.519 --> 00:41:46.159
Uh Chisholm is off a deep, it's it's out.

00:41:46.400 --> 00:41:46.960
Yeah, it's out.

00:41:47.280 --> 00:41:50.320
So because we're it's north of it's closer, Cedar Valley's closer to us.

00:41:50.639 --> 00:41:51.280
We're just zoned.

00:41:51.599 --> 00:41:52.960
That always is blows my mind.

00:41:53.039 --> 00:41:54.000
I don't understand the zoning.

00:41:54.079 --> 00:41:54.239
Yeah.

00:41:54.400 --> 00:41:56.400
Um, so so you went public school.

00:41:56.559 --> 00:41:56.880
Yeah.

00:41:57.119 --> 00:41:59.039
Tell me, tell me why not homeschool.

00:41:59.280 --> 00:42:00.639
Uh it's a money thing.

00:42:01.199 --> 00:42:03.119
So no, we love our neighborhood.

00:42:03.199 --> 00:42:04.639
We love our community.

00:42:04.880 --> 00:42:10.320
Um, we love, I mean, fern Bluff is a wonderful elementary school.

00:42:10.480 --> 00:42:11.840
Um, we love Chisholm.

00:42:12.320 --> 00:42:18.800
And so, I don't know, some of it is most of it was just we feel called to the community that we're in.

00:42:18.880 --> 00:42:22.320
And um, our kids are thriving at the schools.

00:42:22.480 --> 00:42:26.559
If they weren't, then we would consider, you know, a different, you know, school.

00:42:26.719 --> 00:42:28.800
But um their friends are great.

00:42:28.880 --> 00:42:29.039
Yeah.

00:42:29.199 --> 00:42:30.400
Like they have a great friend group.

00:42:30.480 --> 00:42:35.760
So yeah, which is I think that's where a uh we're we feel the same way about the public school.

00:42:35.840 --> 00:42:41.760
We're just really as much as one can be excited about public school, we are definitely on the excited team.

00:42:41.920 --> 00:42:45.360
Uh, I know not all public school is is that.

00:42:45.519 --> 00:42:54.320
I the only reason I asked that is because that, you know, as as probably in wealth management, you probably have a choice to go to like private school if you wanted to, but you're like, oh, I'm gonna I'm gonna be involved in the community and we're gonna go do this.

00:42:54.400 --> 00:42:55.039
Yeah, totally.

00:42:55.280 --> 00:42:58.000
Um which I think is is awesome.

00:42:58.239 --> 00:42:58.800
Um, all right.

00:42:58.880 --> 00:42:59.360
Next question.

00:42:59.440 --> 00:43:00.159
You ready for this one?

00:43:00.320 --> 00:43:02.159
Fire controversial Halloween.

00:43:02.320 --> 00:43:03.519
What are you guys doing?

00:43:05.360 --> 00:43:12.960
Well, we are um we have a big party on Halloween with all our neighbors and our small group will be there, and we have chili and hot dogs.

00:43:13.199 --> 00:43:13.920
Oh, I love it.

00:43:14.159 --> 00:43:22.880
Um, I mean, I feel like this is probably a once-in-a-lifetime Halloween for the kids this year on a Friday, yeah, after or Friday evening.

00:43:22.960 --> 00:43:23.119
Yeah.

00:43:23.280 --> 00:43:24.719
Like I don't think it gets any better than that.

00:43:24.880 --> 00:43:25.599
It's so great.

00:43:25.679 --> 00:43:26.559
Uh about y'all.

00:43:26.960 --> 00:43:31.679
Yeah, we're we're having a party, uh, front yard party, and Adrian invited all the neighbors.

00:43:31.760 --> 00:43:32.800
It was kind of fun.

00:43:32.880 --> 00:43:40.559
And so we're kind of gonna I because there's a lot of you know criticism for those of us who I'm not I'll never say I'm celebrating Halloween.

00:43:40.800 --> 00:43:43.199
I am just having a party when Halloween's going on.

00:43:43.440 --> 00:43:47.119
I was gonna ask, so did you celebrate Halloween growing up or did you participate in Halloween?

00:43:47.280 --> 00:43:47.920
Oh, absolutely.

00:43:48.000 --> 00:43:48.239
I did.

00:43:48.320 --> 00:43:49.199
I was all about it.

00:43:49.280 --> 00:43:58.159
I I, you know, I got as much I would go, I would be the first trick-or-treater out there because that's when the usually the first person always got massive candy bars.

00:43:58.400 --> 00:44:07.679
And I would bring, you know, a um uh pillowcase, a pillowcase, okay, and I make one round and then I take another pillowcase, make another round.

00:44:07.840 --> 00:44:10.400
And I should have gone into candy sales after that.

00:44:10.480 --> 00:44:18.800
Uh because it's like you know, I think about like career right here, you would have all this uh free supply, and you just gotta market it the rest of the year.

00:44:18.880 --> 00:44:24.159
Anyway, um I wasn't that in the in ingenious, but anyway, yeah, I believe.

00:44:24.480 --> 00:44:27.119
Yes, we we participate in Halloween.

00:44:27.360 --> 00:44:28.719
Yes, so so we do that as well.

00:44:28.800 --> 00:44:33.920
Um although there's this one house that freaked out my kids, so we kind of avoid that one.

00:44:34.000 --> 00:44:50.559
But other than that, for the most part, we're we're meeting the neighbors, enjoying kind of the community being outside and um and tell them, you know, like everyone knows my pastor, so it makes it simple just to have I we talk inevitably people talk about God when they're around me, so it's kind of nice.

00:44:50.639 --> 00:44:50.880
Yeah.

00:44:51.039 --> 00:44:55.280
Um, how do you how do you do you ever get to a place where you get to bring up your faith and wealth's mail?

00:44:55.440 --> 00:44:56.159
Like, hey, what do you do?

00:44:56.239 --> 00:44:58.880
Oh, I'm a wealth man, faith wealth management guy, or what do you say?

00:44:58.960 --> 00:44:59.599
Like, how do you put that?

00:44:59.840 --> 00:45:01.599
Well, I just launched a month ago.

00:45:01.760 --> 00:45:04.400
Yeah, so I haven't been able to, yeah, yeah.

00:45:04.559 --> 00:45:08.719
So so you're not able to really go like, well, yeah, now this is your time for Halloween.

00:45:08.880 --> 00:45:10.159
You're gonna be like, hey.

00:45:11.440 --> 00:45:12.079
Yeah.

00:45:12.480 --> 00:45:22.719
Um, I don't think I'll be able to tie in my faith-based wealth management firm with trick-or-treating uh never know as a salespit, but maybe maybe I can work it in somehow.

00:45:22.960 --> 00:45:23.519
I love that.

00:45:23.679 --> 00:45:24.159
I love that.

00:45:24.320 --> 00:45:30.880
Yeah, I I think that's the the challenge always is like, you know, how do you get to spiritual things uh in any realm?

00:45:30.960 --> 00:45:37.519
And it's kind of with me as a pastor, I usually the people I talk to are Christians, and so I kind of have to go out of my way to kind of hang out with people who are far from God.

00:45:37.599 --> 00:45:41.440
That usually happens with uh the uh the rec league stuff that we do.

00:45:41.679 --> 00:45:42.239
Yeah, totally.

00:45:42.400 --> 00:45:50.800
That that did happen at my previous firm where, and again, it wasn't Christian, not saying that disparagingly or it just wasn't it just was normal, right?

00:45:50.880 --> 00:45:51.679
It was just normal.

00:45:51.920 --> 00:45:59.519
Um, and you get to know clients and you're dealing with their money, and that's a really personal, yeah, you know, emotional thing.

00:45:59.840 --> 00:46:01.519
Did they ever go like, what would you do?

00:46:02.000 --> 00:46:07.679
That kind of question faith-wise, or no, no, but they ever say something like, Hey, if this was your money, what would you do?

00:46:08.000 --> 00:46:08.639
Oh, yeah, all the time.

00:46:08.880 --> 00:46:11.440
And then you would say, Well, I give some of it to the church or whatever.

00:46:11.679 --> 00:46:11.920
Yeah.

00:46:12.079 --> 00:46:12.320
Yeah.

00:46:12.400 --> 00:46:18.079
So I mean, the faith stuff would come up, like I can't remember if I told this story on the last pocket.

00:46:18.159 --> 00:46:23.599
Maybe I did, but um, so I have one client that we were going over their will.

00:46:23.760 --> 00:46:24.239
Yeah.

00:46:24.559 --> 00:46:31.760
And, you know, the standard like question is like, Do you want any songs played at your funeral or anything like that?

00:46:32.000 --> 00:46:34.559
Like we had like Amazing Grace as like one of the options.

00:46:34.800 --> 00:46:35.119
Right.

00:46:35.360 --> 00:46:40.320
And she was like, I'm not gonna play effing amazing grace at my I hate that.

00:46:40.639 --> 00:46:44.079
And um, and so I didn't address it.

00:46:44.159 --> 00:46:47.199
I mean, I didn't like I didn't talk about my faith.

00:46:47.519 --> 00:46:50.719
You didn't go like, well, actually, that's the best song ever.

00:46:51.519 --> 00:46:52.079
Yeah.

00:46:52.400 --> 00:46:57.360
But in future meetings, you know, she would she would say antagonistic stuff.

00:46:58.000 --> 00:47:00.400
And we had a really good relationship.

00:47:00.639 --> 00:47:04.320
Like uh, you know, um, they trusted me right a lot.

00:47:04.400 --> 00:47:07.360
And so finally I was like, Hey, you know, I'm a Christian, right?

00:47:07.519 --> 00:47:09.599
And she was like, Yeah, I kind of thought.

00:47:09.760 --> 00:47:17.440
And it opened up all sorts of conversations of like So do you think she was like saying those kind of get you to say something?

00:47:17.679 --> 00:47:19.519
No, I think she had a bad experience.

00:47:19.760 --> 00:47:24.480
Like that's what it boiled down to is like she And so it just was in her heart, so it just came out without her thinking.

00:47:24.880 --> 00:47:36.239
She was hard hearted because of a bad experience, you know, and she opened up to all that and was able to share the gospel with her, and and and she broke down crying.

00:47:36.400 --> 00:47:41.280
And um again, it wasn't it's not a like she lived happily ever after.

00:47:41.360 --> 00:47:41.599
Right, right.

00:47:41.840 --> 00:47:47.440
She accepted the gospel and now she's in church and but but it was emotional.

00:47:47.679 --> 00:47:48.320
Totally.

00:47:48.639 --> 00:47:51.280
And so um, so yeah, it opens up doors.

00:47:51.360 --> 00:48:04.000
It's not every you know conversation leads to that, but again, it kind of naturally It's wild how I think most people would love to talk about spiritual things if someone opened the door for that.

00:48:04.239 --> 00:48:05.199
Yeah, totally.

00:48:05.360 --> 00:48:12.320
She she brought up like she had a dream one time that I can't remember if it was like her sister passed away.

00:48:12.400 --> 00:48:17.840
Somebody like came to her in a dream, and like I mean, I doubt she's told that to many people.

00:48:18.000 --> 00:48:18.880
Right, right.

00:48:19.039 --> 00:48:32.559
Yeah and so and that's when she kind of started crying, and and so she opened up about all kinds of of stuff that like just threw a couple questions and like through that relationship, right?

00:48:32.800 --> 00:48:37.760
Um, she trusted me, her and her husband trusted me enough to just kind of talk about that.

00:48:37.920 --> 00:48:39.599
So that's man, that's incredible.

00:48:39.760 --> 00:48:45.199
Yeah, so I will miss, you know, my firm now is faith-based.

00:48:45.440 --> 00:48:45.840
Right.

00:48:46.239 --> 00:48:52.639
And so I won't have as many of those opportunities, but it's at the same time, it's not like I'll I'm going to turn away.

00:48:52.960 --> 00:48:53.119
Right.

00:48:53.599 --> 00:48:58.159
And I bet you your clients are gonna go, because people generally, word of mouth, right?

00:48:58.400 --> 00:49:04.719
Yeah, they're gonna go, hey, listen, yeah, here's a guy I trust, he's Christian, he won't mess with your money, he's he's awesome.

00:49:04.880 --> 00:49:05.440
Yeah, totally.

00:49:05.519 --> 00:49:13.039
And so I feel like you might get that even from a person that might not be a believer might recommend to a non-believer and go, yeah, let's give it a shot.

00:49:13.280 --> 00:49:18.719
On the other side of it, though, it has helped just again in the last month that I've that I've launched.

00:49:19.199 --> 00:49:32.639
Being overtly Christian does open up more conversations with with clients that that I have that you know, like we'll start off in prayer, we'll start off with scripture, and it just opens up.

00:49:32.880 --> 00:49:34.079
And so there's just more free.

00:49:34.239 --> 00:49:37.599
Yeah, there's other there's a space to talk about now.

00:49:37.920 --> 00:49:45.920
And so, um, so yeah, so I have found like similar to what you're saying with like you're a pastor, so therefore people naturally just can't talk.

00:49:46.239 --> 00:49:48.480
Like this is a Christian firm, yeah.

00:49:48.639 --> 00:49:55.519
And so naturally it it's going to lead to those conversations more than like I think you're Christian, I you might be.

00:49:55.760 --> 00:49:57.760
Like, you know, um, so yeah.

00:49:58.000 --> 00:49:59.599
All right, I'm gonna now get switch again.

00:49:59.679 --> 00:49:59.920
Uh-huh.

00:50:00.000 --> 00:50:06.000
So we're going back to the economy, like everyone is always like it's good right now, but it might not be.

00:50:06.079 --> 00:50:07.519
I mean, government shutdown.

00:50:07.679 --> 00:50:07.840
Yeah.

00:50:08.000 --> 00:50:09.119
What does that affect?

00:50:09.840 --> 00:50:18.400
Well, it sucks for uh we've got a person in our small group that is like hasn't worked in three weeks because of it.

00:50:18.639 --> 00:50:22.320
Um like economic-wise, it hasn't really impacted.

00:50:22.800 --> 00:50:23.519
I was sort of surprised.

00:50:24.079 --> 00:50:28.159
I noticed the stock market's been fairly yeah, it's just gone up.

00:50:28.320 --> 00:50:28.480
Yeah.

00:50:28.719 --> 00:50:31.599
Ever since the tariff stuff stopped in April, right?

00:50:31.760 --> 00:50:33.199
Like it's just gone straight up.

00:50:33.360 --> 00:50:37.119
And so that's what has people worried now is that it's gone up too fast.

00:50:37.360 --> 00:50:37.679
Too fast.

00:50:37.920 --> 00:50:38.079
Right.

00:50:38.320 --> 00:50:41.519
So what is the AI is what's driving it.

00:50:41.679 --> 00:50:41.840
Yeah.

00:50:41.920 --> 00:50:43.599
Like so it's all NI is everything.

00:50:43.760 --> 00:50:44.400
It's NVIDIA.

00:50:44.639 --> 00:50:44.800
Yeah.

00:50:45.039 --> 00:50:47.519
It's I guess Nokia yesterday just signed a big deal with them.

00:50:47.679 --> 00:50:48.320
Oh, I didn't see that.

00:50:48.480 --> 00:50:52.159
Oh man, one billion dollars from NVIDIA to Nokia.

00:50:52.400 --> 00:50:56.400
Yeah, NVIDIA just became the first company today to cross five trillion dollars.

00:50:56.719 --> 00:50:56.960
Wow.

00:50:57.119 --> 00:51:00.800
And I think there's four companies, Apple included, like Apple just hit four trillion.

00:51:00.880 --> 00:51:05.199
I mean, yeah, the amount of now, is that inflation or is that just the amount of money?

00:51:05.280 --> 00:51:08.719
I mean, how this is the part like I know that there's not a finite amount of money in the world.

00:51:09.199 --> 00:51:12.960
Companies have been as profitable as these companies, not not even close.

00:51:13.199 --> 00:51:14.400
It's it's crazy.

00:51:14.639 --> 00:51:17.599
So, like, for example, I was just seeing this before I came here.

00:51:17.679 --> 00:51:21.760
Um, NVIDIA's profit margin is at 60% or was it 60%?

00:51:22.000 --> 00:51:23.199
I don't know what it is today.

00:51:23.360 --> 00:51:26.320
Um, Walmart is like three percent, you know?

00:51:26.719 --> 00:51:28.400
And so I mean, that's crazy.

00:51:28.559 --> 00:51:28.880
Yeah.

00:51:29.039 --> 00:51:35.440
And so it's just like the amount of money that they're making right now is is un literally unheard of.

00:51:35.679 --> 00:51:43.760
So so this is the part that I think getting your head, this might be economic theory way beyond the scope of the show.

00:51:43.920 --> 00:51:50.079
But if you could maybe uh simplify it for those people who are sort of interested but don't have any capacity to really understand it.

00:51:50.480 --> 00:51:55.199
How is more money being able to make out and it's not can't be just due to inflation.

00:51:55.360 --> 00:51:59.840
Is it all these poor countries now have zero money and now all NVIDIA has the most money?

00:51:59.920 --> 00:52:01.039
Because that's not the way it works, right?

00:52:01.280 --> 00:52:02.639
No, it's value creation.

00:52:02.800 --> 00:52:10.320
Like that's the like the fundamental like principle of of capitalism, right?

00:52:10.400 --> 00:52:15.280
Right, is that there's not a fixed pie that then just gets divided up.

00:52:15.360 --> 00:52:18.559
And so therefore, if someone has more, that means someone else has less.

00:52:18.800 --> 00:52:19.119
Right.

00:52:19.440 --> 00:52:27.199
I think that's a struggle for a lot of people that they don't wrap their head around when they see five trillion, they're thinking there must be a lot of starving people now.

00:52:27.440 --> 00:52:28.480
It must have come from me somewhere.

00:52:28.639 --> 00:52:29.039
Right, right.

00:52:29.280 --> 00:52:29.360
Right.

00:52:29.760 --> 00:52:30.559
Somewhere somewhere else.

00:52:30.880 --> 00:52:32.400
Like what's good for you is bad for me.

00:52:32.480 --> 00:52:32.639
Yeah.

00:52:32.800 --> 00:52:34.800
And if anything's good for me, then must be bad for you.

00:52:35.360 --> 00:52:42.880
Personally, like I think I mean, I'm sure there's some theological issues with capitalism and and a biblical worldview.

00:52:42.960 --> 00:52:47.920
Like, certainly there are, but I feel like that's a biblical worldview that like there's not a fixed pie.

00:52:48.239 --> 00:52:48.400
Right.

00:52:48.480 --> 00:52:55.440
That like it's actually God's created this world to like there's not a fixed amount of value that you can create.

00:52:55.679 --> 00:53:00.559
Like it's kind of a neat feature of of the world that God's created.

00:53:00.800 --> 00:53:08.880
And and that's why like we need great entrepreneurs, great people, smart people who take crazy risks and then make a ton of money because it actually lifts everybody up.

00:53:09.280 --> 00:53:19.760
Yeah, it's nuts how an Elon Musk will like go manufacture a car manufacturer hasn't suc there hasn't been a successful car manufacturer since 1920.

00:53:20.480 --> 00:53:22.159
A lot of them subsidized by the government.

00:53:22.400 --> 00:53:23.440
I mean, he kind of is.

00:53:23.760 --> 00:53:24.480
Okay, fair enough.

00:53:24.880 --> 00:53:29.599
Yeah, they have the not kind of Elon Musk is subsidized by the government.

00:53:29.840 --> 00:53:32.480
We had the electric car credit, yeah, and it was like$7,500.

00:53:32.719 --> 00:53:34.320
I don't remember what the amount was.

00:53:34.559 --> 00:53:38.079
And so that was certainly an incentive to buy an electric car that went away.

00:53:38.239 --> 00:53:40.000
So like recently it went away.

00:53:40.239 --> 00:53:41.119
Yeah, I got a truck.

00:53:41.199 --> 00:53:41.760
Yeah.

00:53:42.000 --> 00:53:42.400
Yeah.

00:53:42.639 --> 00:53:44.079
Yours isn't electric, though, is it?

00:53:44.159 --> 00:53:44.800
No, no, it's not.

00:53:44.880 --> 00:53:47.119
Yeah, or it's yeah, it's a gas guzzler.

00:53:47.440 --> 00:53:58.960
Um, okay, so all right, so you feel like now this is the part where as long as tariffs like with with Trump, I think he just did he just sign any, or he's in China right now, he's he's he's doing stuff with Asia.

00:53:59.119 --> 00:53:59.440
Yeah.

00:53:59.599 --> 00:54:05.119
And so, and I don't know if you can even prognosticate this, but you're you're in the financial world, so therefore an expert.

00:54:05.199 --> 00:54:06.800
So, therefore, I'm gonna ask you this question.

00:54:07.039 --> 00:54:18.559
So, it seems like he's making deals that's gonna put our country on at least a a firm, solid yeah, although the tariff time was just insane with up and down, at least within markets.

00:54:18.880 --> 00:54:22.559
What what do what do you feel like for the the next year in?

00:54:22.880 --> 00:54:23.840
I don't think he knows.

00:54:24.320 --> 00:54:25.920
I think he rolls up.

00:54:26.639 --> 00:54:29.280
If we were in Trump's head and I'm like, I don't think he knows.

00:54:29.519 --> 00:54:37.360
Like, so for example, like in April, uh, when the market, the market was down almost 20% in April.

00:54:37.840 --> 00:54:42.079
And then uh April 9th, he backed off of the tariffs.

00:54:42.159 --> 00:54:42.320
Right.

00:54:42.480 --> 00:54:47.760
As an aside, interesting aside, so the bond market is what runs the world.

00:54:47.920 --> 00:54:50.800
Uh the US bond market, particularly.

00:54:50.960 --> 00:54:55.519
Uh and when you say a bond, like is that like buying a bond of a city or the or the nation?

00:54:55.920 --> 00:54:56.639
No, it's the U.S.

00:54:57.039 --> 00:55:01.840
issues a bond that's your so the so the China's from us.

00:55:02.000 --> 00:55:03.760
Yeah, and then that we owe money now.

00:55:03.920 --> 00:55:04.559
Yep.

00:55:04.960 --> 00:55:05.599
Totally.

00:55:05.840 --> 00:55:07.840
And so that runs the world.

00:55:08.000 --> 00:55:14.559
And what happened in April was the bond market started to sho show signs of stress.

00:55:15.119 --> 00:55:21.039
And so bonds are supposed to go up when stocks go down because they're like a safety asset, right?

00:55:21.519 --> 00:55:23.599
Well, bonds started to go down.

00:55:23.760 --> 00:55:26.960
And so um, remember James Carville?

00:55:27.119 --> 00:55:27.440
Uh-huh.

00:55:27.760 --> 00:55:34.320
So Bill Clinton's, I don't know if he was his chief of staff, but I mean, he's still like a a contributor now, like older.

00:55:34.400 --> 00:55:35.840
Like so, he has a famous saying.

00:55:35.920 --> 00:55:37.920
This was actually in the n early 90s.

00:55:38.239 --> 00:55:48.639
He said that um I used to believe, you know, if I was reincarnated, I would want to, you know, come back as the Pope or a 400 baseball hitter.

00:55:48.880 --> 00:55:53.280
But now I want to come back as the bond market because you can intimidate anybody.

00:55:53.760 --> 00:55:55.440
And so that's literally what happened.

00:55:55.599 --> 00:56:00.079
In in April, on April 8th, the bond market sh started showing signs of stress.

00:56:00.320 --> 00:56:02.639
Scott Bissent kind of got in Trump's ear.

00:56:02.719 --> 00:56:02.960
Yep.

00:56:03.119 --> 00:56:05.920
And that's when he reversed course on April 9th.

00:56:06.000 --> 00:56:06.239
Right.

00:56:06.400 --> 00:56:08.480
And the market went up 10% in one day.

00:56:08.639 --> 00:56:09.199
Wow.

00:56:09.440 --> 00:56:17.280
And so, again, another aside, if you're trying to time the market, like you literally could have just gone to the bathroom and like missed out on the 10%.

00:56:17.760 --> 00:56:19.920
Like you got out on April 8th, yeah.

00:56:20.000 --> 00:56:25.039
And oh shoot, like I had a long lunch and I missed out on 10%, you know, the recovery.

00:56:25.280 --> 00:56:30.000
I did have someone tell me around the April 7th, 8th time, I to get out, the whole thing's gonna crash.

00:56:30.159 --> 00:56:32.239
So I was like, you know, I'm gonna hold the line.

00:56:32.400 --> 00:56:33.119
Yeah, totally.

00:56:33.280 --> 00:56:39.760
So all that to say, I don't think Trump, I mean, he's obviously got some type of plan, but I don't think he knows what he's gonna do.

00:56:39.840 --> 00:56:42.800
Yeah, given, you know, whatever day it is.

00:56:43.039 --> 00:56:46.559
And so, so I don't know what he's what he's what he's trying to do.

00:56:46.800 --> 00:56:47.360
It's wild.

00:56:47.519 --> 00:56:49.360
Yeah, man, I appreciate you coming here.

00:56:49.519 --> 00:56:49.679
Yeah.

00:56:49.840 --> 00:56:50.880
Uh thanks for having me.

00:56:51.039 --> 00:56:55.760
I know this seems like we just talked about nothing, but actually, I we just went like a whole hour went by.

00:56:55.840 --> 00:56:56.480
I didn't even realize it.

00:56:56.639 --> 00:56:56.880
Nice.

00:56:57.039 --> 00:57:15.840
Uh, and uh it's it's exciting to kind of hear your your kind of the viewpoint that you have, the way that you kind of think about these things, and how the Lord is really using you to kind of say, like, like God's doing something within even economic markets that we need to be aware of, and then um to to understand like everything is so fragile.

00:57:16.079 --> 00:57:16.800
It really is.

00:57:16.960 --> 00:57:20.639
Uh, and and our hope can't be in no matter amount of what's it always will be.

00:57:20.800 --> 00:57:25.920
Again, that's the like takeaway for me is like you're never going to be out of the woods.

00:57:26.000 --> 00:57:26.079
Right.

00:57:26.239 --> 00:57:27.760
Like until the day you die, yeah.

00:57:27.840 --> 00:57:34.639
Like there's gonna be some level of trust in God and who he is.

00:57:34.719 --> 00:57:38.719
And like I that's the way it's designed it is you're never out of the woods.

00:57:38.880 --> 00:57:39.760
Love it, man.

00:57:39.840 --> 00:57:40.480
Thanks, Jake.

00:57:40.639 --> 00:57:42.079
Hey, so much thanks so much for watching.

00:57:42.159 --> 00:57:46.000
If you want to have any questions, we will talk finances whenever you want to bring the question.

00:57:46.159 --> 00:57:49.280
You can text us at 737 231 0605.

00:57:49.599 --> 00:57:51.039
I would love to hear from you.

00:57:51.119 --> 00:57:52.639
Uh, from our house to yours.

00:57:52.880 --> 00:57:55.039
Have an awesome week of worship.