God’s Part With Howard Dayton

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

• Should your church carve off about 25% of its money market reserve fund of $181,000 and invest it in the stock market for more gain? (Rob referred the caller to the Evangelical Council for Financial Accountability).
• Is term or whole life insurance better if you are considering insuring your children?
• If your husband is retiring in five years and has a deferred compensation plan through his employment, what can he do now to best save for retirement?
• How can you build your credit history if your mortgage and other accounts are all in your husband's name?
• Should you close several credit cards in your late husband's name that you are an authorized user on, and had notified credit card companies of his death seven years ago?
• Is it OK to tithe if you have been following Dave Ramsay's program and it indicates you shouldn't make donations until you've paid off your mortgage?
• If you are a single parent should your emergency fund be enough to cover six months or one year of expenses?
• How much insurance should you keep if you have $350,000 mainly in Whole Life coverage, you and your wife are 70 and 69, and you will be debt-free in three years?
• Should you take about $10,000 out of your 401k to pay off credit card debt if you are age 32 and racked up the debt due to life changes?
• Should you wait to claim Social Security at your Full Retirement Age of 66.5 if you are aged 65 and considering retiring now?
  

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