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For-Profit Investing to End Slavery with Rachel McDonough

MoneyWise Live | Dec 16, 2022

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Show Notes

One of the most loved and theologically rich Christmas carols is “O' Holy Night.” But is it just about Christmas? The third stanza of that carol boldly proclaims: “Chains shall he break for the slave is our brother, And in His name all oppression shall cease.” Rob talks with Rachel McDonough about how investing relates to this verse, and how you can be a part of it. This is MoneyWise Live - biblical wisdom for your financial decisions.

Rachel McDonough is a Certified Financial Planner and a Certified Kingdom Advisor and she always has her sights set on how we can engage the culture with our investment decisions. Rachel and Rob cover these topics and questions:

  • Faith-based investing continues to grow as a movement and we’re constantly hearing from folks who want to get involved. What do you have for us today?
  • Can you give us an example of this type of investing?
  • We often think of slavery as having ended in 1865 with 13th amendment was passed, but how big of an issue is it today?
  • Can you give us an example of industries that are riddled with slave issues?
  • No doubt many of our listeners give to nonprofits that are in the front lines, battling to end slavery but you’re saying that donations alone won’t get it done?
  • So, what can Christians do about it?
  • I imagine diverting capital away from companies that are using forced labor is going to get their attention over time, right?
  • Aligning investments with their values is something you encourage your clients to do?
  • What do your clients tell you is important to them?
  • We began this discussion with a Christmas carol. During this season and heading into the New Year, it’s a great time to reassess our investments, isn’t it?

On-Air Mention:

  • This week’s featured scripture verse is from Deuteronomy 28:12 which says, “The Lord will open the heavens, the storehouse of his bounty, to send rain on your land in season and to bless all the work of your hands. You will lend to many nations but will borrow from none.” That’s good news from God’s Word today. We feature a different scripture passage each week in our Weekly Wisdom email, and it’s a free subscription. Join the thousands of others who are receiving it by going to moneywise.org and click “Sign Up” to register.

We’re continuing our $50,000 Matching Gift Offer, and you have through this weekend to take advantage of this special opportunity.

  • To help meet our year-end fundraising goal of $250,000, a generous donor has offered to match donations given this week up to $50,000, which means that your gift is effectively doubled in impact!
  • Some gracious listeners who have given are:

    • Deborah in Coeur D Alene, ID gave $100
    • Emanuel in Boynton Beach, FL gave $25
    • Vicki in Fort Myers, FL gave $500
    • Sylvia in West Palm Beach, FL gave $50
  • If you’ve benefited from MoneyWise and want to help expand the message of financial faithfulness next year, would you consider sending a matching gift this week to support this ministry? Your gift is tax-deductible, and it’s a direct way to help build and strengthen the Kingdom of God. Go to moneywise.org and click “Give”.

Next, Rob answers these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:

  • What is a fixed annuity investment account?
  • If you're finally debt free, what should you do with your disposable income?
  • If you received a injury settlement and a company named Synergy put you into a "special needs" trust but you found out that they're being sued for doing so, should you be contacting an attorney about this?
  • If you have 2 credit cards totaling about $1,500 at 26% and 29% and you want to get out of them, would it be wise to pay it off with an 11% loan?
  • If you have land you've owned for 40 years originally purchased for $25,000 that sold recently for $250,000, are there any good ways to avoid capital gains from this?
  • If you're in your 60s and used to brick and mortar banks and getting paper statements, what sorts of cautions should you use regarding scams?

<-- Jerry Bowyer Market Analysis -->

  • We're heading toward year end, a lot is going on in the market including another 50 basis point increase, what do you have for us other than that?

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