Purchasing a home is a longterm strategy to free up future cash flow. For most, paying off their mortgage is a no-brainer. But not for ministers, as defined by the IRS. For ministers, there is an additional factor that must be considered called a “housing allowance.”
You are making 12% on a mutual fund while only paying 3.5% on your mortgage. Should you stop trying to pay off your mortgage and, instead, put money toward the mutual fund?
This article was originally published at relevantmagazine.com.
God calls us to be generous. But what if you’re broke, barely making it through each month? Can you be generous when your bank account is hovering on empty?
We know we should save for retirement. But often that’s all we know. So in this episode we answer a common question, “How much should I have saved for retirement?”