Summary: Investing: Why and How? - Steve Moore and Howard Dayton welcome special guest Mark Biller from Sound Mind Investing (soundmindinvesting.com) to discuss the reasons behind investing and the ways in which to do it in a way that follows time-tested Biblical principles. Mark says that operating out of fear is NOT the way to go. He discusses some reasonable hedges against inflation, the principle of diversification, taking a long-term approach to investing, and some tax considerations as we start the new year. Plus they answer calls and emails (800-525-7000 or moneywise@compass1.org) about 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 its 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 (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.
