Summary: Investing: Why and How? - Steve and Howard welcome special guest Mark Biller from Sound Mind Investing to discuss the reasons we should invest and the ways in which to do it in a manner that follows time-tested Biblical principles. Mark says that operating out of fear is NOT the way to go. Here's some of what he covers: Some reasonable hedges against inflation The principle of diversification Taking a long-term approach to investing, and Some tax issues to consider as you invest. Plus, they answer the following calls and emails (800-525-7000 or moneywise@compass1.org): Tax obligations on an inheritance and what should be done with that inheritance (emergency savings, paying off debt, funding a 401K or an IRA, etc.) Whether it's best to put money in a regular 401K or a Roth 401K if you're within a few years of retirement What to do with life insurance proceeds following death of spouse (Howard recommends KingdomAdvisors.com), and Whether rental properties should be used as an investment for retirement. Mark Biller referred listeners to an Investing Temperament Quiz at SoundMindInvesting.com. Steve discovered his temperament is Grumpy, though Mark denies that Grumpy is actually one of the Investing Temperaments. Thanks for listening and telling your friends about Money Wise Weekend, and thanks for your prayers and generous financial support that help keep us on-the-air!
