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Understanding Bonds: The “Safe Bet” in Your Portfolio? · Becoming Financially Confident

• 0:37
  I
• 0:37
  got
• 0:37
  this
• 0:38
  email
• 0:38
  and
• 0:38
  I
• 0:39
  said,
• 0:39
  you
• 0:39
  know
• 0:39
  what,
• 0:39
  this
• 0:39
  is
• 0:39
  a
• 0:40
  great
• 0:40
  way
• 0:40
  to
• 0:40
  frame
• 0:40
  this
• 0:41
  question.
• 0:41
  Here's
• 0:41
  the
• 0:42
  email,
• 0:42
  Ralph.
• 0:43
  People
• 0:43
  keep
• 0:43
  saying
• 0:44
  bonds
• 0:44
  are
• 0:44
  the
• 0:44
  safe
• 0:45
  bet.
• 0:46
  What
• 0:46
  does
• 0:46
  that
• 0:46
  really
• 0:47
  mean?
• 0:48
  Are
• 0:48
  they
• 0:48
  guaranteed
• 0:49
  or
• 0:50
  do
• 0:50
  they
• 0:50
  come
• 0:50
  with
• 0:50
  their
• 0:50
  own
• 0:51
  risks?
• 0:52
  And
• 0:52
  I
• 0:52
  bet
• 0:52
  you're
• 0:53
  probably
• 0:53
  thinking
• 0:53
  the
• 0:54
  exact
• 0:54
  same
• 0:54
  thing.
• 0:55
  So
• 0:55
  today
• 0:55
  on
• 0:56
  the
• 0:56
  show,
• 0:56
  I
• 0:56
  want
• 0:57
  to
• 0:57
  break
• 0:57
  down
• 0:57
  bonds
• 0:59
  because
• 0:59
  I
• 0:59
  want
• 0:59
  you
• 0:59
  to
• 1:00
  fully
• 1:00
  understand
• 1:00
  them.
• 1:01
  I
• 1:01
  want
• 1:02
  you
• 1:02
  to
• 1:02
  understand
• 1:02
  why
• 1:03
  people
• 1:03
  use
• 1:03
  them
• 1:03
  and,
• 1:04
  and
• 1:04
  how
• 1:04
  they
• 1:04
  fit
• 1:04
  into
• 1:05
  your
• 1:05
  financial
• 1:06
  life.
• 1:06
  Because
• 1:06
  it's
• 1:07
  so
• 1:07
  important
• 1:07
  that
• 1:07
  you
• 1:07
  understand
• 1:08
  the
• 1:08
  basics
• 1:08
  of
• 1:09
  this
• 1:09
  because
• 1:09
  these
• 1:10
  are
• 1:10
  a
• 1:10
  great
• 1:10
  thing
• 1:10
  to
• 1:11
  use
• 1:11
  as
• 1:11
  a
• 1:12
  balanced
• 1:12
  part
• 1:12
  of
• 1:13
  your
• 1:13
  portfolio.
• 1:14
  Let's
• 1:14
  get
• 1:14
  to
• 1:14
  it.
• 1:14
  On
• 1:15
  today's
• 1:15
  show,
• 1:17
  this
• 1:17
  is
• 1:17
  Financially
• 1:18
  Confident
• 1:18
  Christian,
• 1:19
  your
• 1:19
  daily
• 1:20
  dose
• 1:20
  of
• 1:20
  gospel,
• 1:21
  grounded
• 1:21
  insight
• 1:21
  and
• 1:22
  faith
• 1:22
  driven
• 1:22
  tips
• 1:23
  to
• 1:23
  help
• 1:23
  you
• 1:23
  break
• 1:24
  the
• 1:24
  cycle
• 1:24
  of
• 1:24
  financial
• 1:25
  shame
• 1:25
  with
• 1:25
  confidence.
• 1:28
  Hello
• 1:29
  and
• 1:29
  welcome
• 1:29
  back
• 1:29
  to
• 1:29
  Financially
• 1:30
  Confident
• 1:30
  Christian.
• 1:30
  And
• 1:31
  I
• 1:31
  am
• 1:31
  so
• 1:31
  happy
• 1:31
  that
• 1:31
  you've
• 1:31
  chose
• 1:32
  to
• 1:32
  give
• 1:32
  me
• 1:32
  just
• 1:32
  a
• 1:32
  little
• 1:32
  bit
• 1:33
  of
• 1:33
  your
• 1:33
  time.
• 1:33
  My
• 1:34
  passions
• 1:34
  in
• 1:34
  life
• 1:34
  is
• 1:35
  to
• 1:35
  really
• 1:35
  give
• 1:35
  back
• 1:36
  to
• 1:36
  people.
• 1:36
  I've
• 1:37
  spent
• 1:37
  30
• 1:37
  years
• 1:38
  doing
• 1:38
  financial
• 1:38
  work.
• 1:39
  I've
• 1:39
  spent
• 1:40
  30
• 1:40
  years
• 1:40
  working
• 1:40
  with
• 1:41
  small
• 1:41
  business
• 1:41
  clients
• 1:42
  and
• 1:42
  individuals.
• 1:43
  And
• 1:43
  I
• 1:43
  bet
• 1:43
  you're
• 1:44
  probably
• 1:44
  one
• 1:44
  of
• 1:44
  those
• 1:44
  people
• 1:45
  as
• 1:45
  well.
• 1:45
  You've
• 1:45
  tuned
• 1:46
  into
• 1:46
  the
• 1:46
  show,
• 1:46
  you're
• 1:46
  thinking,
• 1:47
  oh,
• 1:47
  this
• 1:47
  looks
• 1:47
  pretty
• 1:47
  interesting.
• 1:48
  Financially
• 1:49
  Confident
• 1:49
  Christian.
• 1:49
  Yes,
• 1:50
  I
• 1:50
  want
• 1:50
  to
• 1:50
  be
• 1:50
  a
• 1:50
  financially
• 1:51
  confident
• 1:51
  Christian.
• 1:52
  But
• 1:52
  I'm
• 1:52
  Ralph
• 1:52
  and
• 1:53
  I'm
• 1:53
  here
• 1:53
  to
• 1:53
  help
• 1:53
  you
• 1:54
  break
• 1:54
  that
• 1:54
  cycle
• 1:54
  of
• 1:55
  financial
• 1:55
  shame
• 1:55
  that
• 1:55
  so
• 1:56
  many
• 1:56
  people
• 1:56
  find
• 1:56
  themselves
• 1:57
  in.
• 1:57
  I
• 1:57
  found
• 1:58
  myself
• 1:58
  in
• 1:58
  that
• 1:59
  so
• 1:59
  many
• 1:59
  times.
• 2:00
  And
• 2:00
  if
• 2:00
  you
• 2:00
  missed
• 2:00
  yesterday's
• 2:01
  show,
• 2:01
  I
• 2:01
  had
• 2:01
  a
• 2:01
  great
• 2:02
  discussion.
• 2:02
  We
• 2:02
  talked
• 2:02
  about
• 2:03
  stocks.
• 2:03
  And
• 2:03
  one
• 2:04
  of
• 2:04
  the
• 2:04
  things
• 2:04
  that
• 2:04
  I
• 2:04
  love
• 2:05
  to
• 2:05
  talk
• 2:05
  about
• 2:06
  is
• 2:06
  how
• 2:06
  to
• 2:06
  break
• 2:06
  things
• 2:07
  down
• 2:07
  in
• 2:07
  just
• 2:07
  simple
• 2:08
  English.
• 2:09
  And
• 2:09
  what
• 2:09
  we
• 2:10
  agreed
• 2:10
  to
• 2:10
  yesterday
• 2:11
  was
• 2:11
  stock
• 2:11
  is
• 2:12
  nothing
• 2:12
  more
• 2:12
  than
• 2:12
  ownership
• 2:13
  in
• 2:13
  a
• 2:13
  company.
• 2:14
  But
• 2:14
  I
• 2:14
  really
• 2:15
  stressed
• 2:15
  yesterday
• 2:16
  how
• 2:16
  they
• 2:16
  matter
• 2:17
  for
• 2:17
  long
• 2:17
  term
• 2:17
  growth.
• 2:18
  So
• 2:18
  if
• 2:18
  you
• 2:18
  missed
• 2:19
  yesterday's
• 2:19
  show,
• 2:19
  here's
• 2:20
  the
• 2:20
  great
• 2:20
  part.
• 2:21
  You
• 2:21
  can
• 2:21
  go
• 2:21
  find
• 2:21
  all
• 2:22
  of
• 2:22
  our
• 2:22
  shows
• 2:23
  at
• 2:24
  financiallyconfidentchristian.com
• 2:25
  but
• 2:25
  today,
• 2:25
  like
• 2:25
  I
• 2:26
  said,
• 2:26
  we're
• 2:26
  going
• 2:26
  to
• 2:26
  talk
• 2:26
  about
• 2:26
  bonds.
• 2:27
  And
• 2:27
  a
• 2:28
  lot
• 2:28
  of
• 2:28
  people
• 2:28
  say,
• 2:28
  rob,
• 2:28
  I
• 2:29
  have
• 2:29
  no
• 2:29
  idea
• 2:30
  what
• 2:30
  bonds
• 2:30
  are.
• 2:31
  A
• 2:31
  lot
• 2:31
  of
• 2:32
  people
• 2:32
  say,
• 2:32
  hey,
• 2:32
  these
• 2:32
  are
• 2:32
  really
• 2:33
  safe
• 2:33
  investments.
• 2:34
  But
• 2:35
  I
• 2:35
  want
• 2:35
  you
• 2:35
  to
• 2:35
  know
• 2:35
  some
• 2:36
  things
• 2:36
  that
• 2:36
  you
• 2:36
  should
• 2:36
  understand
• 2:37
  before
• 2:37
  you
• 2:37
  choose
• 2:38
  to
• 2:38
  use
• 2:38
  them.
• 2:39
  I
• 2:39
  remember
• 2:40
  one
• 2:40
  thing.
• 2:40
  Here's
• 2:40
  a
• 2:40
  great
• 2:40
  way
• 2:41
  to
• 2:41
  explain
• 2:41
  this.
• 2:41
  Somebody
• 2:41
  said
• 2:42
  to
• 2:42
  me
• 2:42
  the
• 2:42
  other
• 2:42
  day,
• 2:42
  Ralph,
• 2:42
  can't
• 2:42
  you
• 2:43
  explain
• 2:43
  these
• 2:43
  bonds
• 2:43
  to
• 2:44
  me?
• 2:44
  I
• 2:44
  just
• 2:44
  don't
• 2:44
  get
• 2:44
  it.
• 2:45
  And
• 2:45
  I
• 2:45
  thought
• 2:46
  back
• 2:46
  to
• 2:46
  when
• 2:46
  my
• 2:46
  son
• 2:47
  first
• 2:47
  started
• 2:47
  driving,
• 2:48
  hey,
• 2:48
  if
• 2:49
  you
• 2:49
  have
• 2:49
  teenage
• 2:50
  children
• 2:50
  or
• 2:50
  maybe
• 2:51
  they're
• 2:51
  out
• 2:51
  of
• 2:51
  the
• 2:51
  nest
• 2:51
  like
• 2:52
  mine
• 2:52
  are
• 2:52
  now.
• 2:53
  But
• 2:53
  I
• 2:53
  remember
• 2:54
  he
• 2:54
  came
• 2:54
  to
• 2:54
  me
• 2:54
  one
• 2:55
  day.
• 2:55
  He
• 2:55
  said,
• 2:55
  dad,
• 2:55
  I
• 2:55
  need
• 2:56
  20
• 2:56
  bucks
• 2:56
  for
• 2:56
  gas.
• 2:57
  He
• 2:58
  said,
• 2:58
  my
• 2:58
  paycheck's
• 2:58
  gonna
• 2:59
  be
• 2:59
  coming
• 2:59
  in
• 2:59
  on
• 2:59
  Friday,
• 2:59
  and
• 3:00
  I
• 3:00
  promise
• 3:00
  you
• 3:00
  I'll
• 3:00
  pay
• 3:00
  you
• 3:01
  back,
• 3:01
  even
• 3:01
  give
• 3:01
  you
• 3:01
  a
• 3:01
  couple
• 3:01
  bucks
• 3:02
  of
• 3:02
  interest.
• 3:03
  And
• 3:04
  so
• 3:04
  you
• 3:04
  know
• 3:04
  what?
• 3:04
  I'm
• 3:05
  a
• 3:05
  good
• 3:05
  dad.
• 3:05
  I
• 3:05
  gave
• 3:05
  him
• 3:05
  the
• 3:05
  20
• 3:06
  bucks.
• 3:06
  I
• 3:06
  said,
• 3:06
  hey,
• 3:06
  enjoy.
• 3:07
  Go
• 3:07
  fill
• 3:07
  up
• 3:08
  your
• 3:08
  tank
• 3:08
  with
• 3:08
  gas.
• 3:09
  And
• 3:09
  when
• 3:09
  his
• 3:10
  paycheck
• 3:10
  came
• 3:10
  in,
• 3:10
  he
• 3:11
  absolutely
• 3:11
  gave
• 3:11
  me
• 3:11
  back
• 3:12
  that
• 3:12
  20
• 3:12
  bucks.
• 3:12
  He
• 3:12
  also
• 3:12
  gave
• 3:13
  me
• 3:13
  $5
• 3:13
  extra
• 3:14
  just
• 3:15
  to
• 3:15
  show
• 3:15
  that
• 3:15
  he
• 3:16
  was
• 3:16
  good
• 3:16
  for
• 3:16
  it.
• 3:16
  Now,
• 3:16
  of
• 3:17
  course,
• 3:17
  I
• 3:17
  didn't
• 3:17
  take
• 3:17
  his
• 3:17
  extra
• 3:18
  five
• 3:18
  bucks.
• 3:18
  I'm
• 3:19
  not
• 3:19
  gonna
• 3:19
  take
• 3:19
  your
• 3:19
  five
• 3:19
  bucks.
• 3:20
  That's
• 3:20
  not
• 3:20
  cool.
• 3:21
  But
• 3:21
  that's
• 3:21
  really
• 3:22
  how
• 3:22
  bonds
• 3:22
  work.
• 3:23
  Bonds
• 3:24
  work
• 3:24
  the
• 3:24
  same
• 3:24
  way
• 3:25
  as
• 3:25
  an
• 3:26
  investment.
• 3:26
  Basically,
• 3:27
  what
• 3:27
  you're
• 3:27
  doing
• 3:27
  is
• 3:28
  you're
• 3:28
  lending
• 3:28
  somebody
• 3:29
  money.
• 3:30
  Could
• 3:30
  be
• 3:30
  a
• 3:30
  government,
• 3:31
  could
• 3:31
  be
• 3:31
  a
• 3:31
  city.
• 3:32
  You
• 3:32
  see
• 3:32
  a
• 3:32
  lot
• 3:32
  of
• 3:32
  these,
• 3:33
  what
• 3:33
  they
• 3:33
  call
• 3:33
  municipal
• 3:34
  bonds
• 3:34
  or
• 3:34
  government
• 3:34
  bonds
• 3:35
  could
• 3:35
  be
• 3:35
  a
• 3:35
  company,
• 3:36
  individual
• 3:37
  company,
• 3:38
  and
• 3:38
  they
• 3:38
  agree
• 3:38
  to
• 3:39
  pay
• 3:39
  you
• 3:39
  back
• 3:39
  later.
• 3:40
  And
• 3:40
  while
• 3:41
  you
• 3:41
  have
• 3:41
  that
• 3:41
  loan,
• 3:42
  that's
• 3:42
  basically
• 3:42
  what
• 3:42
  it
• 3:42
  is.
• 3:43
  While
• 3:43
  they
• 3:43
  have
• 3:43
  that
• 3:43
  loan,
• 3:43
  they
• 3:44
  give
• 3:44
  you
• 3:44
  interest.
• 3:45
  It's
• 3:45
  really
• 3:46
  that
• 3:46
  simple.
• 3:47
  What
• 3:47
  do
• 3:47
  you
• 3:47
  think?
• 3:48
  Not
• 3:48
  that
• 3:48
  complicated,
• 3:48
  is
• 3:49
  it?
• 3:50
  But
• 3:50
  now
• 3:50
  let's
• 3:50
  talk
• 3:50
  about
• 3:51
  what
• 3:51
  bonds
• 3:51
  are
• 3:52
  in
• 3:52
  a
• 3:52
  little
• 3:52
  bit
• 3:52
  more
• 3:52
  detail.
• 3:53
  Like
• 3:54
  I
• 3:54
  said,
• 3:54
  a
• 3:54
  bond
• 3:55
  is
• 3:55
  simply
• 3:55
  a
• 3:55
  loan.
• 3:56
  You're
• 3:56
  the
• 3:57
  lender.
• 3:57
  So
• 3:57
  think
• 3:57
  about
• 3:57
  it
• 3:57
  like
• 3:58
  this.
• 3:58
  You
• 3:58
  become
• 3:58
  the
• 3:59
  lender.
• 3:59
  You're
• 3:59
  kind
• 3:59
  of
• 3:59
  like
• 3:59
  the
• 4:00
  bank,
• 4:00
  if
• 4:00
  you
• 4:00
  will,
• 4:01
  and
• 4:02
  the
• 4:02
  borrower
• 4:03
  promises
• 4:03
  to
• 4:03
  repay
• 4:04
  you.
• 4:04
  They're
• 4:05
  not
• 4:05
  going
• 4:05
  to
• 4:05
  just
• 4:05
  pay
• 4:05
  you
• 4:06
  back
• 4:06
  what
• 4:06
  you
• 4:06
  gave
• 4:06
  them,
• 4:07
  but
• 4:07
  they're
• 4:07
  going
• 4:07
  to
• 4:07
  give
• 4:07
  you
• 4:07
  some
• 4:07
  interest
• 4:08
  as
• 4:08
  well.
• 4:09
  Now,
• 4:09
  generally,
• 4:10
  there
• 4:10
  are
• 4:10
  two
• 4:11
  direct
• 4:11
  types
• 4:11
  of
• 4:11
  bonds.
• 4:12
  There's
• 4:12
  government
• 4:12
  bonds
• 4:13
  and
• 4:13
  there's
• 4:14
  corporate
• 4:14
  bonds.
• 4:15
  Government
• 4:16
  bonds,
• 4:16
  or
• 4:16
  you've
• 4:16
  heard
• 4:16
  this
• 4:17
  term
• 4:17
  U.S.
• 4:17
  treasury
• 4:18
  bonds.
• 4:19
  Those
• 4:19
  usually
• 4:20
  carry
• 4:20
  the
• 4:20
  lowest
• 4:20
  risk
• 4:21
  because
• 4:22
  they're
• 4:22
  backed
• 4:22
  on
• 4:22
  the
• 4:23
  full
• 4:23
  faith
• 4:23
  and
• 4:23
  credit
• 4:23
  of
• 4:24
  the
• 4:24
  United
• 4:24
  States
• 4:24
  government.
• 4:24
  Now,
• 4:25
  we
• 4:25
  could
• 4:25
  have
• 4:25
  a
• 4:25
  discussion
• 4:26
  about
• 4:26
  whether
• 4:26
  the
• 4:27
  US
• 4:27
  Government
• 4:28
  is
• 4:28
  a
• 4:28
  good
• 4:28
  entity
• 4:29
  to
• 4:29
  invest
• 4:29
  in
• 4:29
  or
• 4:29
  not,
• 4:29
  but
• 4:30
  that's
• 4:30
  not
• 4:30
  for
• 4:30
  today's
• 4:30
  episode.
• 4:32
  But
• 4:32
  because
• 4:33
  they
• 4:33
  have
• 4:33
  low
• 4:34
  risk,
• 4:34
  as
• 4:34
  we
• 4:34
  talked
• 4:35
  about
• 4:35
  the
• 4:35
  other
• 4:35
  day,
• 4:36
  when
• 4:36
  things
• 4:36
  have
• 4:37
  low
• 4:37
  risk,
• 4:38
  they
• 4:38
  generally
• 4:38
  have
• 4:38
  a
• 4:39
  low
• 4:39
  return
• 4:39
  as
• 4:39
  well.
• 4:41
  So
• 4:41
  that's
• 4:41
  what
• 4:41
  we're
• 4:41
  talking
• 4:42
  about.
• 4:42
  We
• 4:42
  say
• 4:42
  government
• 4:42
  bonds.
• 4:43
  Now,
• 4:43
  the
• 4:43
  other
• 4:43
  side
• 4:43
  of
• 4:44
  that
• 4:44
  is
• 4:44
  what's
• 4:45
  called
• 4:45
  corporate
• 4:45
  bonds.
• 4:46
  These
• 4:47
  are
• 4:47
  bonds
• 4:47
  that
• 4:47
  are
• 4:48
  owed
• 4:48
  by
• 4:49
  individual
• 4:49
  companies.
• 4:50
  Now,
• 4:50
  because
• 4:50
  they're
• 4:51
  not
• 4:51
  backed
• 4:51
  by
• 4:51
  the
• 4:51
  full
• 4:52
  faith
• 4:52
  and
• 4:52
  credit
• 4:52
  of
• 4:52
  the
• 4:52
  United
• 4:52
  States
• 4:53
  government
• 4:53
  or
• 4:53
  another
• 4:54
  entity,
• 4:54
  maybe
• 4:54
  a
• 4:54
  city
• 4:55
  or
• 4:55
  state,
• 4:56
  they
• 4:57
  have
• 4:57
  a
• 4:57
  Higher
• 4:57
  risk.
• 4:58
  But
• 4:59
  with
• 4:59
  that
• 4:59
  higher
• 4:59
  risk
• 5:00
  comes
• 5:00
  a
• 5:01
  higher
• 5:01
  reward.
• 5:02
  Now,
• 5:03
  municipal
• 5:03
  bonds,
• 5:04
  these
• 5:04
  are
• 5:04
  offered
• 5:04
  by
• 5:04
  states
• 5:05
  or
• 5:05
  cities.
• 5:05
  And
• 5:06
  the
• 5:06
  benefit
• 5:06
  to
• 5:06
  those
• 5:07
  generally.
• 5:07
  Are
• 5:08
  there
• 5:08
  tax
• 5:08
  advantages?
• 5:09
  One
• 5:09
  of
• 5:09
  the
• 5:09
  hats
• 5:09
  I
• 5:10
  wear
• 5:10
  on
• 5:10
  a
• 5:10
  daily
• 5:10
  basis
• 5:11
  is
• 5:11
  a
• 5:11
  tax
• 5:12
  hat,
• 5:12
  a
• 5:12
  tax
• 5:12
  advisor
• 5:13
  hat.
• 5:14
  So
• 5:14
  there
• 5:15
  are
• 5:15
  some
• 5:15
  tax
• 5:15
  advantages
• 5:16
  to
• 5:16
  municipal
• 5:17
  bonds.
• 5:17
  So
• 5:17
  there's
• 5:18
  really
• 5:18
  three
• 5:18
  types
• 5:18
  of
• 5:19
  bonds.
• 5:19
  There's
• 5:20
  the
• 5:20
  government
• 5:20
  bonds,
• 5:21
  the
• 5:21
  corporate
• 5:22
  bonds,
• 5:22
  and
• 5:22
  municipal
• 5:23
  bonds.
• 5:24
  Now,
• 5:25
  one
• 5:25
  of
• 5:25
  the
• 5:25
  things
• 5:25
  you
• 5:25
  asked
• 5:25
  in
• 5:25
  your
• 5:26
  question
• 5:26
  today,
• 5:26
  which
• 5:26
  I
• 5:27
  think
• 5:27
  was
• 5:27
  so
• 5:27
  important
• 5:28
  to
• 5:28
  understand,
• 5:29
  why
• 5:29
  do
• 5:30
  people
• 5:30
  call
• 5:30
  these
• 5:30
  safe?
• 5:31
  There's
• 5:32
  a
• 5:32
  couple
• 5:32
  reasons
• 5:32
  for
• 5:32
  that.
• 5:33
  The
• 5:33
  first
• 5:33
  reason
• 5:34
  that
• 5:34
  people
• 5:34
  call
• 5:34
  them
• 5:34
  safe
• 5:35
  is
• 5:35
  their
• 5:35
  predictable
• 5:36
  interest
• 5:36
  payments.
• 5:38
  When
• 5:38
  they
• 5:38
  issue
• 5:38
  this
• 5:39
  bond,
• 5:39
  they
• 5:40
  put
• 5:40
  a
• 5:40
  letter,
• 5:40
  they
• 5:40
  put
• 5:41
  a
• 5:41
  document
• 5:41
  that
• 5:41
  says,
• 5:42
  I
• 5:42
  guarantee
• 5:43
  I'm
• 5:43
  going
• 5:43
  to
• 5:43
  pay
• 5:43
  you
• 5:44
  X
• 5:44
  number
• 5:44
  of
• 5:44
  dollars
• 5:45
  per
• 5:45
  interest
• 5:45
  at
• 5:46
  these
• 5:46
  particular
• 5:47
  intervals.
• 5:48
  And
• 5:48
  because
• 5:49
  it's
• 5:49
  a
• 5:49
  loan,
• 5:50
  you
• 5:50
  don't
• 5:50
  own
• 5:50
  a
• 5:50
  percentage
• 5:51
  of
• 5:51
  the
• 5:51
  company.
• 5:51
  Like
• 5:51
  that
• 5:52
  stock
• 5:52
  we
• 5:52
  talked
• 5:52
  about
• 5:52
  yesterday.
• 5:52
  If
• 5:53
  you
• 5:53
  missed
• 5:53
  yesterday's
• 5:53
  show,
• 5:53
  we
• 5:54
  talked
• 5:54
  about
• 5:54
  a
• 5:54
  pizza.
• 5:55
  And
• 5:55
  when
• 5:56
  you
• 5:56
  buy
• 5:56
  a
• 5:56
  piece
• 5:57
  of
• 5:57
  pizza,
• 5:58
  you're
• 5:58
  buying
• 5:58
  a
• 5:58
  piece
• 5:58
  of
• 5:59
  that
• 5:59
  piece.
• 6:00
  Well,
• 6:00
  with
• 6:00
  a
• 6:00
  bond,
• 6:01
  you're
• 6:01
  not
• 6:01
  buying
• 6:02
  any
• 6:02
  stock
• 6:02
  ownership,
• 6:03
  you're
• 6:04
  just
• 6:04
  giving
• 6:04
  them
• 6:05
  a
• 6:05
  loan.
• 6:06
  So
• 6:06
  by
• 6:06
  that
• 6:06
  very
• 6:07
  nature,
• 6:07
  they're
• 6:07
  less
• 6:08
  volatile
• 6:08
  than
• 6:08
  stocks
• 6:09
  because
• 6:09
  they've
• 6:10
  got
• 6:10
  a
• 6:10
  commitment
• 6:10
  to
• 6:10
  you
• 6:11
  that
• 6:11
  they've
• 6:11
  got
• 6:12
  to
• 6:12
  pay
• 6:12
  you
• 6:12
  back.
• 6:13
  Now
• 6:13
  you
• 6:13
  might
• 6:14
  be
• 6:14
  saying,
• 6:14
  Ralph,
• 6:14
  okay,
• 6:14
  well,
• 6:14
  where
• 6:15
  do
• 6:15
  people
• 6:15
  use
• 6:16
  these?
• 6:17
  People
• 6:17
  generally
• 6:18
  use
• 6:18
  these
• 6:18
  to
• 6:18
  balance
• 6:18
  your
• 6:19
  portfolio.
• 6:20
  So
• 6:20
  if
• 6:20
  you
• 6:20
  work
• 6:21
  with
• 6:21
  an
• 6:21
  investment
• 6:21
  advisor,
• 6:22
  if
• 6:22
  you
• 6:22
  work
• 6:22
  with
• 6:22
  a
• 6:23
  broker,
• 6:23
  a
• 6:23
  lot
• 6:23
  of
• 6:23
  people
• 6:24
  call
• 6:24
  them
• 6:24
  brokers.
• 6:25
  If
• 6:25
  you
• 6:25
  work
• 6:25
  with
• 6:25
  a
• 6:26
  broker,
• 6:26
  they're
• 6:27
  going
• 6:27
  to
• 6:27
  use
• 6:27
  these
• 6:27
  to
• 6:27
  help
• 6:28
  balance
• 6:28
  your
• 6:28
  portfolio.
• 6:29
  Because
• 6:29
  that's
• 6:29
  the
• 6:29
  idea.
• 6:30
  We
• 6:30
  want
• 6:30
  to
• 6:30
  make
• 6:31
  sure
• 6:31
  that
• 6:31
  we're
• 6:31
  balancing
• 6:32
  some
• 6:32
  high
• 6:32
  risk
• 6:32
  and
• 6:33
  some
• 6:33
  medium
• 6:33
  risk
• 6:33
  and
• 6:34
  some
• 6:34
  low
• 6:34
  risk
• 6:34
  thing.
• 6:35
  But
• 6:36
  let's
• 6:36
  talk
• 6:36
  about
• 6:36
  those
• 6:36
  real
• 6:37
  risk,
• 6:37
  because
• 6:37
  there
• 6:37
  are
• 6:38
  risks.
• 6:38
  You
• 6:38
  might
• 6:38
  be
• 6:38
  sitting
• 6:38
  here,
• 6:38
  Ralph.
• 6:39
  You
• 6:39
  know,
• 6:39
  there's
• 6:39
  got
• 6:39
  to
• 6:40
  be
• 6:40
  some
• 6:40
  risk
• 6:40
  to
• 6:40
  this.
• 6:41
  Of
• 6:41
  course
• 6:41
  there
• 6:42
  is.
• 6:42
  One
• 6:43
  of
• 6:43
  the
• 6:43
  big
• 6:43
  risk
• 6:44
  to
• 6:44
  bonds
• 6:45
  is
• 6:45
  inflation.
• 6:46
  Let
• 6:46
  me
• 6:46
  explain
• 6:47
  that
• 6:47
  a
• 6:47
  little
• 6:47
  bit.
• 6:48
  We've
• 6:48
  been
• 6:48
  through
• 6:49
  some
• 6:49
  really
• 6:49
  tough
• 6:49
  times
• 6:50
  with
• 6:50
  inflation
• 6:50
  lately,
• 6:51
  haven't
• 6:51
  we?
• 6:52
  Well,
• 6:52
  inflation
• 6:52
  works
• 6:53
  like
• 6:53
  this.
• 6:53
  When
• 6:53
  you
• 6:54
  buy
• 6:54
  a
• 6:54
  bond,
• 6:55
  that
• 6:55
  bond
• 6:56
  has
• 6:56
  an
• 6:56
  interest
• 6:56
  rate
• 6:57
  on
• 6:57
  it.
• 6:57
  Well,
• 6:58
  that
• 6:58
  interest
• 6:58
  rate
• 6:58
  is
• 6:59
  set
• 6:59
  at
• 6:59
  the
• 6:59
  time
• 6:59
  the
• 6:59
  bond
• 7:00
  is
• 7:00
  sold.
• 7:01
  So
• 7:01
  if
• 7:01
  six
• 7:02
  months
• 7:02
  down
• 7:02
  the
• 7:02
  road,
• 7:02
  interest
• 7:03
  rates
• 7:03
  go
• 7:03
  up,
• 7:03
  guess
• 7:04
  what?
• 7:04
  That
• 7:05
  bond
• 7:05
  is
• 7:05
  still
• 7:05
  paying
• 7:06
  you
• 7:06
  at
• 7:06
  that
• 7:06
  lower
• 7:07
  rate.
• 7:08
  So
• 7:08
  what
• 7:08
  happens
• 7:09
  in
• 7:09
  the
• 7:09
  market?
• 7:09
  There's
• 7:09
  a
• 7:10
  secondary
• 7:10
  market
• 7:10
  for
• 7:10
  these
• 7:11
  bonds.
• 7:11
  I
• 7:11
  don't
• 7:11
  want
• 7:11
  to
• 7:11
  get
• 7:11
  lost
• 7:12
  in
• 7:12
  the
• 7:12
  detail
• 7:12
  today,
• 7:13
  but
• 7:13
  there's
• 7:14
  a
• 7:14
  secondary
• 7:14
  market
• 7:15
  for
• 7:15
  these
• 7:15
  bonds.
• 7:16
  So
• 7:16
  when
• 7:17
  interest
• 7:17
  rates
• 7:17
  are
• 7:18
  rising,
• 7:19
  that
• 7:19
  bond
• 7:19
  becomes
• 7:20
  less
• 7:20
  valuable.
• 7:21
  So
• 7:21
  if
• 7:21
  you
• 7:21
  wanted
• 7:21
  to
• 7:22
  sell
• 7:22
  that
• 7:22
  bond
• 7:22
  before
• 7:23
  the
• 7:23
  end
• 7:23
  of
• 7:23
  the
• 7:23
  investment's
• 7:24
  over,
• 7:24
  you're
• 7:25
  going
• 7:25
  to
• 7:25
  get
• 7:25
  a
• 7:25
  lower
• 7:25
  price
• 7:26
  for
• 7:26
  that.
• 7:27
  So
• 7:27
  there
• 7:27
  is
• 7:27
  some
• 7:28
  risk
• 7:28
  in
• 7:28
  that.
• 7:29
  But
• 7:30
  in
• 7:31
  general,
• 7:31
  the
• 7:32
  risk
• 7:32
  only
• 7:32
  comes
• 7:33
  from
• 7:33
  that
• 7:33
  inflation.
• 7:34
  Risk
• 7:35
  default
• 7:35
  is
• 7:35
  rare,
• 7:36
  but
• 7:36
  there
• 7:36
  are
• 7:36
  times
• 7:36
  when
• 7:37
  bonds
• 7:37
  are
• 7:37
  defaulted
• 7:37
  on.
• 7:38
  I've
• 7:38
  seen
• 7:38
  it
• 7:38
  happen
• 7:38
  with
• 7:39
  municipalities.
• 7:39
  You
• 7:40
  may
• 7:40
  have
• 7:40
  seen
• 7:40
  this
• 7:40
  in
• 7:40
  the
• 7:40
  news.
• 7:41
  The
• 7:41
  city
• 7:42
  went
• 7:42
  bankrupt,
• 7:43
  this
• 7:43
  municipality
• 7:44
  went
• 7:44
  bankrupt.
• 7:45
  So
• 7:45
  you
• 7:45
  can
• 7:46
  lose
• 7:46
  your
• 7:46
  money,
• 7:47
  you
• 7:47
  know,
• 7:47
  if
• 7:48
  you
• 7:48
  loan
• 7:48
  your
• 7:48
  friend
• 7:48
  money
• 7:49
  and
• 7:49
  your
• 7:49
  friend
• 7:50
  declares
• 7:50
  bankruptcy,
• 7:51
  guess
• 7:51
  what?
• 7:51
  You've
• 7:52
  lost
• 7:52
  your
• 7:52
  money.
• 7:53
  It
• 7:53
  works
• 7:53
  the
• 7:53
  same
• 7:54
  way
• 7:54
  with
• 7:54
  bonds.
• 7:55
  So
• 7:56
  now
• 7:56
  you
• 7:56
  might
• 7:56
  be
• 7:56
  asking,
• 7:56
  Ralph,
• 7:57
  okay,
• 7:57
  where
• 7:57
  do
• 7:57
  they
• 7:57
  fit
• 7:57
  into
• 7:58
  a
• 7:58
  portfolio?
• 7:59
  I
• 7:59
  love
• 8:00
  to
• 8:00
  use
• 8:00
  bonds
• 8:01
  when
• 8:01
  retirement
• 8:01
  is
• 8:02
  approaching
• 8:03
  because
• 8:03
  we've
• 8:03
  got
• 8:03
  to
• 8:04
  start
• 8:04
  putting
• 8:04
  that
• 8:04
  money
• 8:05
  into
• 8:05
  buckets
• 8:06
  where
• 8:06
  we
• 8:06
  know
• 8:07
  there's
• 8:07
  going
• 8:07
  to
• 8:07
  be
• 8:07
  sureness
• 8:08
  in
• 8:08
  that
• 8:09
  we
• 8:09
  don't
• 8:09
  want
• 8:09
  to
• 8:09
  be
• 8:10
  investing
• 8:10
  all
• 8:10
  our
• 8:11
  money
• 8:11
  in
• 8:11
  the
• 8:11
  market
• 8:11
  where
• 8:11
  there
• 8:12
  could
• 8:12
  be
• 8:12
  volatility,
• 8:12
  there
• 8:12
  could
• 8:13
  be
• 8:13
  something
• 8:13
  could
• 8:13
  be
• 8:13
  around
• 8:13
  the
• 8:13
  bend
• 8:14
  we're
• 8:14
  not
• 8:14
  expecting.
• 8:15
  So
• 8:16
  that's
• 8:16
  where
• 8:16
  these
• 8:16
  bonds
• 8:17
  really
• 8:17
  come
• 8:17
  into
• 8:17
  place.
• 8:18
  Because
• 8:19
  in
• 8:19
  the
• 8:19
  traditional
• 8:20
  stock
• 8:20
  market
• 8:20
  investments,
• 8:22
  there
• 8:22
  are
• 8:22
  all
• 8:22
  kinds
• 8:23
  of
• 8:23
  wild
• 8:23
  swings.
• 8:23
  Hey,
• 8:23
  open
• 8:24
  up
• 8:24
  the
• 8:24
  newspaper,
• 8:25
  turn
• 8:25
  on
• 8:25
  the
• 8:26
  market
• 8:26
  watch
• 8:26
  or
• 8:26
  whatever
• 8:27
  you
• 8:27
  watch
• 8:27
  on
• 8:27
  tv,
• 8:27
  you'll
• 8:28
  see
• 8:28
  that
• 8:28
  market
• 8:28
  is
• 8:28
  going
• 8:29
  up
• 8:29
  and
• 8:29
  down
• 8:29
  like
• 8:29
  a
• 8:29
  seesaw.
• 8:31
  So
• 8:31
  that's
• 8:31
  where
• 8:32
  a
• 8:32
  great
• 8:32
  time
• 8:33
  to
• 8:33
  use
• 8:33
  bonds.
• 8:34
  They're
• 8:35
  not
• 8:35
  a
• 8:35
  growth
• 8:35
  engine.
• 8:35
  That's
• 8:35
  the
• 8:36
  thing
• 8:36
  I
• 8:36
  need
• 8:36
  you
• 8:36
  to
• 8:36
  understand
• 8:36
  right
• 8:37
  now.
• 8:37
  It's
• 8:37
  not
• 8:37
  about,
• 8:37
  well,
• 8:38
  I'm
• 8:38
  going
• 8:38
  to
• 8:38
  put
• 8:38
  a
• 8:38
  lot
• 8:38
  of
• 8:38
  money
• 8:39
  into
• 8:39
  bonds
• 8:39
  so
• 8:39
  they'll
• 8:40
  grow,
• 8:41
  but
• 8:41
  what
• 8:41
  they
• 8:41
  are
• 8:41
  is
• 8:42
  really
• 8:42
  a
• 8:42
  stabilizer
• 8:43
  for
• 8:44
  your
• 8:44
  portfolio.
• 8:45
  Now,
• 8:46
  one
• 8:46
  of
• 8:46
  the
• 8:46
  things
• 8:46
  I
• 8:46
  do
• 8:46
  on
• 8:46
  this
• 8:46
  show
• 8:47
  is
• 8:47
  I
• 8:47
  always
• 8:47
  want
• 8:47
  to
• 8:47
  tie
• 8:48
  what
• 8:48
  I'm
• 8:48
  talking
• 8:48
  about
• 8:48
  back
• 8:49
  in
• 8:49
  the
• 8:49
  scripture.
• 8:50
  You
• 8:50
  might
• 8:50
  be
• 8:50
  saying,
• 8:50
  Ralph,
• 8:51
  okay,
• 8:51
  you're
• 8:51
  going
• 8:51
  to
• 8:51
  really
• 8:51
  stretch
• 8:52
  for
• 8:52
  this
• 8:52
  one,
• 8:52
  dude,
• 8:52
  because
• 8:53
  where
• 8:53
  are
• 8:53
  you
• 8:54
  going
• 8:54
  to
• 8:54
  find
• 8:55
  a
• 8:55
  Bible
• 8:56
  verse
• 8:56
  about
• 8:57
  bonds?
• 8:58
  Well,
• 8:58
  it's
• 8:58
  not
• 8:58
  quite
• 8:59
  about
• 8:59
  bonds,
• 8:59
  but
• 8:59
  I
• 8:59
  found
• 9:00
  this
• 9:00
  one
• 9:00
  from
• 9:00
  Ecclesiastes,
• 9:01
  chapter
• 9:01
  11,
• 9:02
  verse
• 9:02
  1.
• 9:02
  You
• 9:02
  might
• 9:02
  notice
• 9:02
  I've
• 9:03
  used
• 9:03
  this
• 9:03
  one
• 9:03
  many
• 9:03
  times
• 9:04
  as
• 9:04
  we
• 9:04
  go
• 9:04
  through
• 9:05
  this
• 9:05
  investment
• 9:05
  series,
• 9:05
  because
• 9:06
  it
• 9:06
  really
• 9:06
  nails
• 9:07
  what
• 9:07
  we're
• 9:07
  talking
• 9:07
  about.
• 9:08
  Again,
• 9:08
  this
• 9:08
  is
• 9:08
  Ecclesiastes
• 9:10
  chapter
• 9:10
  11,
• 9:10
  verse
• 9:11
  2.
• 9:12
  Invest
• 9:12
  in
• 9:12
  seven
• 9:13
  ventures.
• 9:13
  Yes.
• 9:14
  In
• 9:14
  eight.
• 9:15
  You
• 9:15
  do
• 9:15
  not
• 9:15
  know
• 9:15
  what
• 9:16
  disaster
• 9:16
  may
• 9:16
  come
• 9:17
  upon
• 9:17
  the
• 9:17
  land.
• 9:18
  And
• 9:18
  if
• 9:19
  you
• 9:19
  think
• 9:19
  about
• 9:19
  it,
• 9:20
  bonds
• 9:20
  can
• 9:20
  be
• 9:21
  one
• 9:21
  of
• 9:21
  those
• 9:21
  ventures.
• 9:22
  You
• 9:22
  may
• 9:22
  be
• 9:23
  investing
• 9:23
  in
• 9:23
  stock,
• 9:23
  you
• 9:24
  may
• 9:24
  be
• 9:24
  investing
• 9:24
  in
• 9:24
  bonds.
• 9:25
  It's
• 9:25
  all
• 9:25
  part
• 9:26
  of
• 9:26
  that
• 9:26
  diversification.
• 9:27
  It's
• 9:28
  not
• 9:28
  the
• 9:28
  whole
• 9:29
  story.
• 9:29
  You're
• 9:30
  not
• 9:30
  putting
• 9:30
  all
• 9:30
  your
• 9:31
  money
• 9:31
  into
• 9:31
  stock.
• 9:31
  I've
• 9:32
  had
• 9:32
  clients
• 9:32
  that
• 9:32
  have
• 9:32
  come
• 9:32
  in
• 9:32
  to
• 9:33
  meet
• 9:33
  with
• 9:33
  me.
• 9:33
  Think
• 9:33
  about
• 9:33
  this
• 9:34
  for
• 9:34
  a
• 9:34
  second.
• 9:34
  They
• 9:34
  had
• 9:34
  all
• 9:35
  their
• 9:35
  money
• 9:35
  in
• 9:35
  a
• 9:35
  particular
• 9:36
  company
• 9:36
  stock
• 9:37
  and
• 9:37
  that
• 9:37
  stock
• 9:38
  was
• 9:38
  doing
• 9:38
  great.
• 9:38
  The
• 9:38
  company's
• 9:39
  doing
• 9:39
  fantastic.
• 9:40
  But
• 9:41
  think
• 9:41
  about
• 9:41
  Exxon.
• 9:42
  Date
• 9:42
  myself
• 9:42
  a
• 9:43
  little
• 9:43
  bit.
• 9:43
  There
• 9:44
  was
• 9:44
  a
• 9:44
  crash
• 9:44
  up
• 9:44
  in
• 9:45
  Alaska
• 9:45
  many,
• 9:45
  many
• 9:46
  years
• 9:46
  ago
• 9:46
  by
• 9:46
  Exxon.
• 9:47
  Well,
• 9:48
  guess
• 9:48
  what
• 9:48
  happened?
• 9:49
  Exxon
• 9:49
  stock
• 9:50
  price
• 9:50
  took
• 9:50
  a
• 9:50
  hit.
• 9:51
  So
• 9:52
  if
• 9:52
  you
• 9:52
  were
• 9:52
  investing
• 9:52
  in
• 9:53
  Exxon
• 9:53
  stock,
• 9:53
  all
• 9:54
  of
• 9:54
  a
• 9:54
  sudden
• 9:54
  you've
• 9:54
  got
• 9:54
  a
• 9:55
  lot
• 9:55
  less
• 9:55
  money.
• 9:56
  So
• 9:57
  that's
• 9:57
  where
• 9:57
  these
• 9:57
  diversification
• 9:58
  really
• 9:59
  helps.
• 9:59
  Got
• 10:00
  one
• 10:00
  more
• 10:00
  Bible
• 10:00
  verse,
• 10:01
  and
• 10:01
  that's
• 10:01
  Proverbs
• 10:01
  chapter
• 10:02
  21:5.
• 10:02
  And
• 10:03
  this
• 10:03
  is
• 10:03
  all
• 10:03
  about
• 10:04
  plans
• 10:04
  of
• 10:04
  the
• 10:04
  diligent,
• 10:04
  the
• 10:04
  plans
• 10:05
  that
• 10:05
  are
• 10:05
  diligently
• 10:05
  to
• 10:05
  profit
• 10:06
  as
• 10:06
  surely
• 10:06
  as
• 10:06
  haste
• 10:07
  leads
• 10:07
  to
• 10:07
  poverty.
• 10:08
  And
• 10:09
  see,
• 10:09
  that's
• 10:09
  where
• 10:10
  bonds
• 10:10
  reward
• 10:11
  patience
• 10:12
  and
• 10:12
  are
• 10:13
  also
• 10:13
  part
• 10:13
  of
• 10:14
  a
• 10:14
  careful
• 10:14
  planning
• 10:15
  thing.
• 10:15
  So
• 10:15
  I
• 10:16
  always
• 10:16
  want
• 10:16
  to
• 10:16
  give
• 10:16
  you
• 10:16
  an
• 10:16
  action
• 10:17
  item
• 10:17
  here
• 10:17
  on
• 10:17
  the
• 10:17
  show.
• 10:18
  What
• 10:18
  are
• 10:18
  some
• 10:18
  things
• 10:19
  that
• 10:19
  you
• 10:19
  can
• 10:19
  do
• 10:19
  to
• 10:20
  better
• 10:20
  understand
• 10:21
  bonds?
• 10:22
  So
• 10:22
  here's
• 10:22
  your
• 10:22
  homework
• 10:22
  for
• 10:23
  today.
• 10:23
  If
• 10:23
  you
• 10:23
  choose
• 10:23
  to
• 10:23
  do
• 10:23
  this,
• 10:24
  you're
• 10:24
  like,
• 10:24
  Ralph,
• 10:24
  I
• 10:24
  came
• 10:24
  to
• 10:25
  watch
• 10:25
  your
• 10:25
  show.
• 10:25
  I
• 10:25
  came
• 10:26
  to
• 10:26
  listen
• 10:26
  to
• 10:26
  your
• 10:26
  show.
• 10:26
  I
• 10:27
  wasn't
• 10:27
  expecting
• 10:27
  homework.
• 10:28
  But
• 10:28
  here's
• 10:28
  the
• 10:29
  thing.
• 10:29
  Go
• 10:29
  do
• 10:30
  some
• 10:30
  research,
• 10:30
  learn
• 10:30
  about
• 10:31
  the
• 10:31
  three
• 10:31
  types
• 10:31
  of
• 10:31
  bonds,
• 10:31
  like
• 10:32
  I
• 10:32
  said,
• 10:32
  government,
• 10:33
  corporate,
• 10:33
  and
• 10:33
  municipal,
• 10:35
  and
• 10:35
  then
• 10:35
  pray
• 10:35
  about
• 10:35
  it.
• 10:36
  Ask
• 10:37
  God
• 10:37
  right
• 10:37
  now.
• 10:37
  See
• 10:38
  God,
• 10:38
  I'm
• 10:38
  leaning
• 10:39
  on
• 10:39
  bonds
• 10:39
  for
• 10:40
  safety,
• 10:40
  or
• 10:41
  am
• 10:41
  I
• 10:41
  leaning
• 10:41
  on
• 10:41
  God
• 10:42
  for
• 10:42
  just
• 10:42
  complete
• 10:43
  security?
• 10:43
  Because
• 10:43
  that's
• 10:43
  what
• 10:43
  we
• 10:43
  really
• 10:44
  need
• 10:44
  to
• 10:44
  decide.
• 10:45
  Bonds
• 10:45
  are
• 10:46
  a
• 10:46
  good
• 10:46
  investment
• 10:46
  choice,
• 10:47
  but
• 10:48
  are
• 10:48
  we
• 10:48
  relying
• 10:49
  on
• 10:49
  that
• 10:49
  or
• 10:50
  relying
• 10:50
  on
• 10:50
  God?
• 10:50
  Let's
• 10:50
  pray
• 10:51
  together
• 10:51
  right
• 10:51
  now.
• 10:52
  Heavenly
• 10:52
  Father,
• 10:53
  we
• 10:53
  just
• 10:53
  thank
• 10:53
  You
• 10:53
  for
• 10:53
  teaching
• 10:54
  us
• 10:54
  that
• 10:54
  real
• 10:54
  security
• 10:55
  comes
• 10:55
  only
• 10:55
  from
• 10:55
  You.
• 10:56
  So
• 10:56
  we
• 10:57
  just
• 10:57
  ask
• 10:57
  right
• 10:57
  now,
• 10:57
  Lord,
• 10:57
  that
• 10:58
  You
• 10:58
  would
• 10:58
  help
• 10:58
  us
• 10:58
  be
• 10:58
  patient.
• 10:59
  Help
• 11:00
  us
• 11:00
  be
• 11:00
  wise,
• 11:00
  Lord,
• 11:01
  and
• 11:02
  guide
• 11:02
  us
• 11:02
  as
• 11:02
  we
• 11:02
  use
• 11:03
  money
• 11:03
  in
• 11:03
  ways
• 11:03
  that
• 11:03
  honor
• 11:04
  You.
• 11:04
  And
• 11:04
  we
• 11:04
  ask
• 11:04
  this
• 11:05
  in
• 11:05
  confidence
• 11:05
  in
• 11:05
  the
• 11:05
  name
• 11:06
  of
• 11:06
  Jesus.
• 11:07
  Amen.
• 11:08
  I
• 11:08
  want
• 11:09
  to
• 11:09
  ask
• 11:09
  you
• 11:09
  for
• 11:09
  a
• 11:09
  favor
• 11:10
  right
• 11:10
  now.
• 11:11
  If
• 11:11
  today's
• 11:11
  episode
• 11:12
  has
• 11:12
  helped
• 11:12
  you
• 11:12
  see
• 11:12
  bonds
• 11:13
  more
• 11:13
  clearly,
• 11:14
  can
• 11:14
  I
• 11:14
  ask
• 11:14
  you
• 11:14
  to
• 11:15
  do
• 11:15
  me
• 11:15
  a
• 11:15
  favor
• 11:15
  to
• 11:15
  share
• 11:15
  it
• 11:16
  with
• 11:16
  somebody
• 11:16
  else
• 11:16
  who's
• 11:16
  just
• 11:17
  now
• 11:17
  learning
• 11:17
  about
• 11:17
  money,
• 11:18
  the
• 11:19
  things
• 11:19
  that
• 11:19
  we
• 11:19
  do
• 11:19
  a
• 11:19
  bad
• 11:20
  job
• 11:20
  in
• 11:20
  this
• 11:20
  country,
• 11:21
  truly,
• 11:21
  I
• 11:21
  think
• 11:21
  is
• 11:22
  is
• 11:22
  sharing
• 11:23
  financial
• 11:23
  information
• 11:23
  and
• 11:24
  really
• 11:24
  sharing
• 11:25
  how
• 11:25
  finances
• 11:26
  work.
• 11:26
  And
• 11:27
  you
• 11:27
  can
• 11:27
  just
• 11:27
  send
• 11:27
  them
• 11:28
  a
• 11:28
  link
• 11:29
  to
• 11:29
  the
• 11:29
  show
• 11:29
  to
• 11:29
  send
• 11:29
  them
• 11:29
  to
• 11:30
  our
• 11:30
  website.
• 11:30
  That's
• 11:30
  financiallyconfidentchristian.com
• 11:32
  and
• 11:33
  remember,
• 11:33
  if
• 11:33
  you've
• 11:33
  got
• 11:34
  a
• 11:34
  question
• 11:34
  for
• 11:34
  the
• 11:34
  show,
• 11:34
  I
• 11:34
  would
• 11:35
  love
• 11:35
  to
• 11:35
  answer
• 11:35
  it.
• 11:35
  I
• 11:36
  love
• 11:36
  answering
• 11:36
  questions.
• 11:36
  That's
• 11:37
  what
• 11:37
  really
• 11:37
  fuels
• 11:38
  my
• 11:38
  day,
• 11:38
  to
• 11:38
  be
• 11:38
  honest
• 11:38
  with
• 11:39
  you.
• 11:39
  So
• 11:39
  if
• 11:39
  you've
• 11:40
  got
• 11:40
  a
• 11:40
  question,
• 11:40
  maybe
• 11:40
  you're
• 11:40
  sitting
• 11:41
  there
• 11:41
  right
• 11:41
  now,
• 11:41
  you're
• 11:41
  like,
• 11:41
  Ralph,
• 11:41
  I
• 11:41
  got
• 11:42
  a
• 11:42
  question
• 11:42
  for
• 11:42
  you.
• 11:43
  Simple
• 11:43
  thing
• 11:43
  you
• 11:43
  can
• 11:43
  do.
• 11:44
  Just
• 11:44
  go
• 11:44
  to
• 11:44
  justaskralph.com
• 11:46
  you
• 11:46
  put
• 11:46
  your
• 11:46
  name,
• 11:47
  your
• 11:47
  email
• 11:47
  address
• 11:48
  and
• 11:48
  put
• 11:48
  your
• 11:48
  question
• 11:49
  in
• 11:49
  there.
• 11:49
  And
• 11:49
  guess
• 11:49
  what?
• 11:50
  I'll
• 11:50
  answer
• 11:50
  it
• 11:50
  on
• 11:50
  the
• 11:51
  show.
• 11:52
  And
• 11:52
  while
• 11:52
  you're
• 11:52
  there,
• 11:52
  I'd
• 11:53
  love
• 11:53
  to
• 11:53
  give
• 11:53
  you
• 11:53
  a
• 11:53
  free
• 11:53
  copy
• 11:54
  of
• 11:54
  my
• 11:54
  book.
• 11:55
  One
• 11:55
  of
• 11:55
  the
• 11:55
  things
• 11:55
  that
• 11:55
  I
• 11:56
  love
• 11:56
  to
• 11:56
  do
• 11:56
  is
• 11:56
  write.
• 11:57
  I
• 11:57
  love
• 11:57
  to
• 11:57
  give
• 11:58
  back
• 11:58
  to
• 11:58
  people
• 11:59
  because
• 11:59
  I
• 11:59
  truly
• 12:00
  believe
• 12:01
  that
• 12:01
  when
• 12:01
  we
• 12:01
  study
• 12:01
  and
• 12:02
  we
• 12:02
  learn
• 12:02
  more
• 12:02
  things,
• 12:03
  we
• 12:03
  can
• 12:03
  become
• 12:04
  those
• 12:04
  financially
• 12:04
  confident
• 12:05
  Christians.
• 12:05
  And
• 12:06
  I
• 12:06
  want
• 12:06
  to
• 12:06
  give
• 12:06
  you
• 12:06
  a
• 12:06
  copy
• 12:07
  of
• 12:07
  my
• 12:07
  book.
• 12:07
  I
• 12:07
  just
• 12:07
  finished
• 12:07
  writing
• 12:08
  my
• 12:08
  third
• 12:08
  book.
• 12:08
  It's
• 12:09
  called
• 12:09
  How
• 12:09
  to
• 12:09
  Become
• 12:09
  a
• 12:10
  Financially
• 12:10
  Confident
• 12:10
  Christian
• 12:11
  and
• 12:11
  it's
• 12:11
  absolutely
• 12:12
  free.
• 12:12
  You
• 12:12
  can
• 12:12
  just
• 12:12
  go
• 12:12
  to
• 12:12
  this
• 12:13
  website,
• 12:13
  financiallyconfidentchristian.com/becoming
• 12:17
  that
• 12:17
  to
• 12:17
  you
• 12:18
  one
• 12:18
  more
• 12:18
  time
• 12:18
  because
• 12:18
  I
• 12:18
  don't
• 12:18
  want
• 12:18
  you
• 12:19
  to
• 12:19
  miss
• 12:19
  it.
• 12:19
  That's
• 12:20
  financiallyconfidentchristian.com/becoming
• 12:24
  now.
• 12:24
  Today
• 12:24
  we
• 12:25
  learned
• 12:25
  about
• 12:25
  bonds
• 12:26
  and
• 12:26
  how
• 12:27
  they're
• 12:27
  steady
• 12:27
  and
• 12:27
  predictable
• 12:28
  tools.
• 12:28
  They're
• 12:28
  not
• 12:29
  perfect.
• 12:29
  I
• 12:29
  hope
• 12:29
  you
• 12:29
  get
• 12:29
  that
• 12:30
  from
• 12:30
  today.
• 12:30
  And
• 12:30
  they're
• 12:30
  not
• 12:30
  risk
• 12:31
  free,
• 12:32
  but
• 12:32
  tomorrow
• 12:33
  we're
• 12:33
  going
• 12:33
  to
• 12:33
  dive
• 12:33
  into
• 12:34
  mutual
• 12:34
  funds.
• 12:35
  A
• 12:35
  lot
• 12:35
  of
• 12:35
  people
• 12:35
  ask
• 12:35
  me
• 12:35
  about
• 12:36
  this
• 12:36
  because
• 12:36
  they're
• 12:37
  so
• 12:37
  popular
• 12:37
  right
• 12:37
  now
• 12:38
  and
• 12:38
  they're
• 12:38
  a
• 12:38
  great
• 12:38
  investment
• 12:39
  for
• 12:39
  beginners.
• 12:41
  So
• 12:41
  make
• 12:41
  sure
• 12:41
  you
• 12:42
  join
• 12:42
  me
• 12:42
  tomorrow
• 12:42
  on
• 12:42
  the
• 12:42
  show
• 12:43
  when
• 12:43
  we
• 12:43
  talk
• 12:43
  about
• 12:44
  mutual
• 12:44
  funds.
• 12:45
  I
• 12:45
  just
• 12:45
  want
• 12:46
  to
• 12:46
  encourage
• 12:46
  you
• 12:46
  right
• 12:46
  now.
• 12:47
  You
• 12:47
  may
• 12:47
  start
• 12:48
  off
• 12:48
  today
• 12:48
  showing
• 12:48
  I
• 12:49
  don't
• 12:49
  know
• 12:49
  anything
• 12:49
  about
• 12:49
  bonds,
• 12:50
  but
• 12:50
  I
• 12:51
  truly
• 12:51
  believe
• 12:51
  you
• 12:51
  can
• 12:51
  do
• 12:52
  this.
• 12:52
  You
• 12:52
  really
• 12:52
  can.
• 12:53
  And
• 12:53
  together
• 12:54
  we
• 12:54
  can
• 12:54
  break
• 12:54
  that
• 12:55
  cycle
• 12:55
  of
• 12:55
  financial
• 12:55
  shame
• 12:56
  and
• 12:56
  we
• 12:56
  can
• 12:56
  do
• 12:56
  it
• 12:56
  with
• 12:56
  confidence.
• 12:57
  So
• 12:58
  as
• 12:58
  I
• 12:58
  always
• 12:58
  in
• 12:58
  the
• 12:58
  show,
• 12:59
  stay
• 12:59
  financially
• 12:59
  savvy
• 13:00
  out
• 13:00
  there.
• 13:00
  I
• 13:00
  hope
• 13:00
  to
• 13:01
  see
• 13:01
  again
• 13:01
  tomorrow
• 13:02
  and
• 13:02
  God
• 13:02
  bless
• 13:02
  you.
• 13:03
  Have
• 13:03
  a
• 13:03
  great
• 13:03
  day.