Financial Pathway

On a recent trip to New York City, I got to witness two groups of street performers in Times Square. Both were incredibly talented and had almost identical skill sets, but one group walked away with 10x as much money after their performance.  In this episode, I'll share 4 subtle techniques these street performers use to make hundreds of dollars a night and explain how successful businesses ut...

Pastors may feel hesitant about tackling the topic of money from the pulpit. And understandably so! No one wants to alienate their audience or be perceived as greedy or self-serving.  But when pastors fail to communicate what the Bible says about money, they are actually doing their congregation a huge disservice.  In this episode, I talk with Josh Teis about how he approaches the topic of money f...

Concerns are growing over how long the US stock market can sustain its current pace. US stock returns were strong for a full decade, were briefly halted by the Coronavirus, and now have continued to surge forward to new record highs.  In this episode, we'll consider both sides of this argument and the common objections raised. We'll conclude by giving you three specific actions to take to set...

We've made it to episode 50 which means it's time to do another special "ask me anything" episode! Thanks everyone for listening and submitting these great questions: Saving taxes in retirement (2:15) Pastoral finances (11:12) Minimizing taxes as W-2 employee (not self-employed) (12:47) Biggest mistakes people make in retirement (19:23) High yield dividend stocks (25:04) How much house can I affor...

Bryan Samms joins me to discuss some important considerations regarding pastoral pay such as... What does the Bible teach about pastoral pay? How should pastors communicate with their church about their pay/benefits? When should a church add additional paid staff?  What resources should a church use to determine fair compensation for a particular role? Connect with Bryan Twitter: @bryansamms...

Many people assume that being frugal and being cheap are the same thing. They are not! There's a key difference that separates someone being financially savvy from someone being downright stingy.  In this episode, we'll talk about why it's admirable to be frugal and why you never want to be cheap.  Email: info@nateskelly.com Website: https://www.nateskelly.com Facebook: https://www.faceb...

Only about 1/3 of Americans say they either are or will be adequately prepared for retirement. And no wonder! It's a complicated business. So how do your retirement savings stack up to the average American your age? In this episode, we'll share the research on how much the average American has saved and how much the experts recommend you have saved based on your age.  Remember, that there is...

Consumer debt in America is closing in on $15 TRILLION dollars (personal mortgages, car loans, student loans, credit cards etc. combined). Everywhere you turn, you're bombarded with advertisements and offers to borrow more money. So how is a Christian supposed to approach this question of debt? Is it ever ok to borrow money or should Christians avoid debt entirely? In this episode, we'll take a cl...

Email: info@nateskelly.com Website: nateskelly.com Facebook: https://www.facebook.com/financialpathwayllc

You've probably heard of the "Debt Snowball" but have you heard of the "Debt Avalanche"? Find out how to rapidly pay down debt and create margin in your financial life using this simple technique.  In this episode, we'll explain how the Debt Avalanche works and how it can help you pay your debt faster and pay even less in interest than using the Debt Snowball method.  Email: info@nateske...

Myth: Trusts are only for the super wealthy Truth: Trusts are helpful estate planning tools that benefit millions of Americans and can serve a wide number of purposes. In this episode we'll explain the basics of trusts including... The two basic types of trusts The three roles involved in setting up a trust The difference between a will and a trust Five important benefits of setting up a trust Ema...

According to a recent poll by Ladder, consumers spend an average of $1497/month on non-essential items. A big reason many people aren't able to make progress on their savings goals is because their monthly spending is crowded with non-essential purchases. In this episode, we'll discuss how you can save money in six different areas of your budget. Some may only save $20-30/mo while others could mea...

Lifestyle creep: the tendency to continue increasing your spending as your income grows.  A higher income is often accompanied by more spending. Typically, the majority of the increased spending is on non-essential items (eating out, entertainment, activities, shopping, travel, household amenities, etc.). Over time, these luxuries come to be seen as essential to your way of life. If/when inco...

Cary Schmidt is the Lead Pastor of Emmanuel Baptist Church in Newington, Connecticut. He hosts the "Leading in the Gospel" Podcast and recently published his newest book "Stop Trying: How to Receive Not Achieve Your Identity".  In this episode, we talk about how your identity can shape your view of finances for good or for bad. Cary explains how he as a pastor approaches teaching and preachin...

It's the question of the hour: are we headed for a big jump in inflation?  Price increases in housing, gas, lumber, and more, have many Americans worried about how inflation may lead to an economic recession.  In today's episode, we'll explain some of the factors contributing to recent price increases and add some context to the inflation discussion. We'll also offer three important tips...

Whether you have a lump sum of money or you have extra monthly cash flow, is it smarter to invest that money in the market or pay off your mortgage as soon as you can? We talk through some important questions to ask yourself as well as some common pitfalls to avoid. We also offer some hypothetical situations to help compare and contrast the benefits and drawbacks of each option.  Email: info@...

Our guest, Andrew Smith is the founder and director of Orphans in Asia. He shares the story of why he started Orphans in Asia and how he's able to run the ministry without taking a paycheck from it.  We discuss some of the important work Orphans in Asia is doing to feed and house needy children, teach them real life occupational skills, facilitate grants for adoptions, and more. We also talk...

This episode is the first in a series of episodes from the "Managing God's Money" sessions that I teach for churches. It's an opportunity for us to take a deeper dive into specific passages to better understand what the Bible teaches us in the areas of giving, saving, and spending.  The Parable of the Talents is one of the most important passages in the entire Bible on the subject of stewards...

The IRS recently extended the 2020 IRA contribution deadline. Instead of April 15th, you can now make a 2020 contribution to an IRA up until May 17th, 2021. With so many Americans receiving a stimulus check or tax refund (or both!) now might be a great time to invest excess cash in an IRA.  In this episode we'll break down some of the key differences between Traditional and Roth IRAs and give...

We've all been guilty of being over-budget from time to time. Maybe we spent an extra $50 last month on restaurants or we went $200 over our price limit on Christmas gifts. However, there's a big difference between occasionally being over-budget and a harmful pattern of overspending. So how do we know if we're overspending? And more importantly what motives are at the core of our decisions to spen...

Buying a house is one of the most stressful experiences of your life. It's understandable considering that your home is probably the biggest purchase you'll ever make and it's place you will spend the vast majority of your time! And now that spring is here and the weather is warmer, that usually means there will be an increased number of home buyers on the market.   In today's episode we'll h...

Here's a question I've gotten a lot recently: what should I do with my old 401k? Many Americans opt to roll over their 401k into an IRA after they've separated employment, but is this the best option for you? This is one of the most important decisions you will need to make regarding your retirement savings so I decided to dedicate a whole episode to it. In this episode we'll outline your 4 availa...

Multi-level marketing (otherwise known as network marketing or direct sales) is a massive industry boasting millions of distributors and billions of dollars in annual sales. These companies sell a wide variety of products including clothing, essential oils, cosmetics, vitamins, shakes, insurance, jewelry, and much more. MLM enthusiasts claim that their unique structure empowers each member to: "Es...

Proverbs 13:22 says that a good man leaves an inheritance to his children's children. Saving for you children's future is a noble goal and one that requires careful thought and planning.  Before you decide on how you want to save money for your children's or grandchildren's future, consider these six options and their unique pros and cons.  Links mentioned in the episode: https://www.sav...

Unless you've been living under a rock this last year, I'm sure you've heard about Robinhood. It's the new investment app that's revolutionized the investment world by empowering individual retail investors to compete with the big Wall Street firms. Except, this week, many of Robinhood's own users turned against them in a surprising twist. Also, what's been going on with these stocks like Gamestop...