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In this episode of Ask the Financial Advisor, we tackle four common and important questions we hear from Christians trying to steward money wisely. These aren’t edge cases…they’re everyday situations faced by real people who want to make faithful, practical decisions with their finances.

 

1. I’m in My Mid-40s and Just Started Saving for Retirement. What Should I Do?

This is an incredibly common scenario, and it’s not too late.

The name of the game when it comes to retirement planning is margin. Margin means spending less than you earn and moving toward a life without debt. There is no magic number that works for everyone, but two things matter deeply:

  • Being debt-free in retirement
  • Controlling your income needs in retirement by learning to live on less

The more you practice these disciplines in your 40s, 50s, and 60s, the more confidently you can approach retirement.

Most importantly: you have to start saving. If you’re in your 40s and haven’t started yet, the right place to begin is simply somewhere. Consistently setting aside money every month, whether in a Roth IRA or another retirement account, matters more than perfection.

A Simple Illustration on the Power of Compound Interest

If you are 40 years old, retire at 70 (30 years), start with $0, and earn an average of 8% annually:

  • Invest $100/month → ~$149,000 (≈ $590/month income)
  • Invest $500/month → ~$745,000 (≈ $2,980/month income)
  • Invest $1,000/month → ~$1,500,000 (≈ $6,000/month income)

These figures are not guarantees and are for illustration purposes only. Past performance is not a guarantee of future results. Monthly income in retirement is based on the 4.8% rule.

 

If You Don’t Have Margin to Save

Margin doesn’t appear magically—you create it:

  • Cut expenses
  • Increase income (job change or second job)
  • Sell unused items
  • Explore side hustles

Start where you are. Progress matters more than perfection.

 

2. How Involved Should I Be in the Finances of My Grown Kids?

When adult children live at home, the relationship changes, but it doesn’t disappear.

When your kids are under your roof, there is naturally more involvement. However, they are no longer children, and you are no longer able to dictate their financial decisions. Your role shifts from parent to advisor.

A few guiding principles:

  • Be cautious not to make life so comfortable that your kids never grow up
  • Avoid enabling dependence in the name of “helping”
  • Give advice when asked, but unsolicited advice can strain the relationship

Instead of asking how involved should I be?, ask how much should my kids be allowed to rely on me?

Clear boundaries matter. Hold them consistently.

Once kids are fully on their own, influence shifts even more toward an advisory role. Avoid manipulation, but consider positive incentives, such as matching savings or generosity, to encourage wise behavior. Bless wisdom, but don’t bless foolishness.

 

3. How Do I Know a Financial Advisor Is Worth Trusting?

Someone once said, “Show me your net worth, and then we’ll talk money.” That’s not the right standard, but the concern behind it is real.

There are plenty of financial “posers” offering advice that benefits themselves more than their clients (a quick scroll through social media will prove that).

Here are five things to look for in a financial advisor:

  1. Christian faith – shared worldview matters
  2. Character – integrity over image
  3. Competence – practical, real-world skill
  4. Credentials – training and accountability
  5. Insight – wisdom beyond formulas

A good advisor serves your long-term well-being, not their own platform.

 

4. How Much Risk Is Appropriate in a Roth IRA?

The Roth IRA is unique because growth is completely tax-free. That naturally raises the question: Should I take more risk there?

Risk itself is not sinful, but it must be ordered wisely.

Think in terms of a financial security pyramid:

  • First: no-risk foundations (cash reserves, emergency savings, no debt)
  • Then: long-term investing, which involves appropriate risk

Avoid the extremes:

  • Refusing all risk is not wise
  • Building a portfolio entirely on “moon shots” is not investing—it’s gambling

Diversification matters. Once you have a solid, diversified foundation aligned with your risk tolerance, you can decide how much speculative exposure is appropriate. But speculation should never be the foundation of a retirement plan.

The Roth IRA is a powerful tool, and for those eligible, we strongly encourage its use. Just remember: tax-free growth doesn’t eliminate the need for wisdom.

 

Closing Thoughts

Faithful stewardship isn’t about finding loopholes or perfect strategies, it’s about wisdom, discipline, and trust in God. At Life Financial Group, we have helped our clients make wise financial decisions since 1978, and we’d love to help you take your next steps in Biblical Financial Stewardship.

Whether you’re catching up on retirement, navigating relationships with adult children, choosing an advisor, or deciding how much risk to take, the goal is the same: steward what God has entrusted to you well, with clarity and faithfulness.

 

 

Next Steps

 

Material presented is property of The Stewardology Podcast, a ministry of Life Financial Group and Life Institute. You may not copy, reproduce, modify, create derivative works, or exploit any content without the expressed written permission of The Stewardology Podcast. For more information, contact us at Contact@StewardologyPodcast.com or (800) 688-5800.

The topics discussed in this podcast are for general information only and are not intended to provide specific investment advice or recommendations.  Investing and investment strategies involve risk including the potential loss of principal. Past performance is not a guarantee of future results.

Securities and advisory services offered through GWM, Inc Member FINRA/SIPC