Faithful Finance

Episode 10: How To Make An Estate Plan

If the thought of writing a will or setting up an estate plan keeps getting pushed to the bottom of your to-do list — this episode is the one that finally gets you to do something about it. In this episode of the Faithful Finance podcast, Emily Stroud and Alison Gengelbach wrap up the "10 Secrets" series with Secret #10: How to Create an Estate Plan. Emily makes the case that estate planning isn't morbid — it's one of the most loving, practical things you can do for the people you care about most. From wills and guardianship to powers of attorney, beneficiary designations, and trusts, Emily breaks down what you actually need, when to get professional help, and how to organize everything so your family isn't scrambling in the middle of grief. She also shares deeply personal stories about caring for her own parents — using financial and medical powers of attorney in real-time — that make this conversation feel urgent, not theoretical. She also walks through her legendary "house is on fire binder" and shares what Warren Buffett and Shaquille O'Neal have taught their kids about money, work ethic, and inheritance. What You'll Learn: ➡️ Why estate planning isn't just for the wealthy — and why it's one of the greatest gifts you can leave your family ➡️ What a will does (and doesn't) control — and why you absolutely need one if you have children ➡️ How to name a guardian for your kids and why separating the guardian from the trustee is often the wisest move ➡️ Why beneficiary designations on life insurance and retirement accounts override your will — and the costly mistake people make by never updating them ➡️ What a financial power of attorney and medical power of attorney are — and how Emily used both when caring for her parents ➡️ How to organize everything into one "house is on fire binder" your family can grab and go in any crisis ➡️ Why most people won't owe estate tax — but still need a thoughtful plan ➡️ What the unlimited marital deduction means and when estate tax actually becomes a concern ➡️ When a simple will and online forms are enough — and when you need an estate planning attorney, CPA, and financial advisor working together ➡️ How trusts let you "manage from the grave" — setting conditions that encourage work ethic, maturity, and wise stewardship ➡️ What Warren Buffett and Shaquille O'Neal's approaches to inheritance can teach the rest of us ➡️ How to think about funeral expenses and pre-planning so your family isn't scrambling financially on the hardest day Resources: Download Emily's free budget worksheet and other practical tools at: https://faithfulfinance.com/resources [https://faithfulfinance.com/resources/] Buy Emily's Book: Purchase Faithful Finance by Emily Stroud on her website: https://faithfulfinance.com/resources/ [https://faithfulfinance.com/resources/] Support the Show: ✅ Follow or subscribe so you never miss an episode ✍️ Leave a review and share your biggest takeaway 📲 Share this episode with someone who keeps putting off their estate plan Connect With Emily: Facebook: https://www.facebook.com/EmilyGStroud/ [https://www.facebook.com/EmilyGStroud/] Instagram: https://www.instagram.com/emilygstroud [https://www.instagram.com/emilygstroud]/ Threads: https://www.threads.com/@emilygstroud [https://www.threads.com/@emilygstroud] YouTube: https://www.youtube.com/@faithfulfinancepodcast [https://www.youtube.com/@faithfulfinancepodcast] Connect With Alison: Instagram: https://www.instagram.com/amgengelbach/ [https://www.instagram.com/amgengelbach/] Credits: A Faithful Finance production. Executive Producer: Emily Stroud Produced by Greatlight Creative: https://www.greatlightcreative.com [https://www.greatlightcreative.com] Emily G. Stroud, MBA, CFA is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC to residents of: TX, UT, WV, NY, OK, PA, SC, TN, AR, AZ, GA, ID, IL, KY, MT, and NC. Investment Advisor Representative Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Stroud Financial Management, Inc. are not affiliated. Cambridge and Emily G. Stroud, LLC are also not affiliated. Check the background of this financial professional on FINRA's BrokerCheck: BrokerCheck.FINRA.org | www.FINRA.org | www.SIPC.org | Form CRS

Episode: 9 How to Save for College

If paying for college feels like a mountain you're not sure you can climb — or one you haven't started climbing yet — this episode is exactly for you. In this episode of the Faithful Finance podcast, Emily Stroud and Alison Gengelbach dive into Secret #9: How to Save for College, Emily brings both professional wisdom and personal experience to this conversation — she's currently navigating college with her own daughter — and breaks down how to think about college savings strategically, faithfully, and without the fear. From 529 plans to scholarship strategy, from managing your kids' expectations to making sure retirement doesn't take a back seat, Emily makes one of the biggest financial decisions of your life feel a whole lot more approachable. She also shares the full story of how her daughter ended up at the University of Kentucky — and why turning down a near-full ride to a smaller school was actually the right call. What You'll Learn: ➡️ Why education is "the great equalizer" — and how the "teach them to fish" principle applies to college planning ➡️ Why retirement savings must come before college savings — and the one thing you can't get a loan for ➡️ How to have the college money conversation with your kids early (and why managing expectations is a gift, not a letdown) ➡️ What a 529 plan is, how it works, and why it's one of the best tax-advantaged tools available for education savings ➡️ The new 529 rules that let you use funds for private K–12 tuition (up to $10,000/year) ➡️ What to do if your child doesn't use all their 529 funds — including the new option to roll up to $35,000 into a Roth IRA ➡️ How to calculate how much you actually need to save using savingforcollege.com ➡️ Why "the first letter isn't the final offer" — and how everything in the college admissions process is negotiable ➡️ How to give your kids "skin in the game" through scholarships, part-time work, and ownership over their own future ➡️ Why AP classes in high school can shave semesters (and serious money) off your college bill ➡️ How to evaluate colleges like a business decision — weighing cost, major fit, logistics, and scholarship potential ➡️ Why there's no single right path — trade school, community college, conservatories, and the military are all valid options ➡️ Why starting to save at birth is the ideal — and what to do if you're starting later Resources: Download Emily's free budget worksheet and other practical tools at: https://faithfulfinance.com/resources Buy Emily's Book: Purchase Faithful Finance by Emily Stroud on her website: https://faithfulfinance.com/resources/ Support the Show: ✅ Follow or subscribe so you never miss an episode ✍️ Leave a review and share your biggest takeaway 📲 Share this episode with someone who's feeling overwhelmed about paying for college Connect With Emily: Facebook: https://www.facebook.com/EmilyGStroud/ Instagram: https://www.instagram.com/emilygstroud/ Threads: https://www.threads.com/@emilygstroud YouTube: https://www.youtube.com/@faithfulfinancepodcast Connect With Alison: Instagram: https://www.instagram.com/amgengelbach/ Credits: A Faithful Finance production. Executive Producer: Emily Stroud Produced by Greatlight Creative: https://www.greatlightcreative.com Emily G. Stroud, MBA, CFA is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC to residents of: TX, UT, WV, NY, OK, PA, SC, TN, AR, AZ, GA, ID, IL, KY, MT, and NC. Investment Advisor Representative Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Stroud Financial Management, Inc. are not affiliated. Cambridge and Emily G. Stroud, LLC are also not affiliated. Check the background of this financial professional on FINRA's BrokerCheck: BrokerCheck.FINRA.org | www.FINRA.org | www.SIPC.org | Form CRS

Episode 8: Is It Ever Too Late To Save For Retirement?

If the word "retirement" makes you want to close the tab and deal with it later, this episode is exactly for you. In this episode of the Faithful Finance podcast, Emily Stroud and Alison Gengelbach dive into Secret #8: The Faithful Invest for Retirement.  Emily breaks down the intimidating world of retirement investing into clear, practical steps anyone can take — whether you're 25 or 55. From compound interest to dollar cost averaging, from 401(k) matching to the 10-10-10-70 budget model, Emily makes retirement planning feel less like a trip to the principal's office and more like a conversation around the kitchen table.  She also covers estate planning essentials — including the "house is on fire" binder every family needs — and reminds listeners that your financial past does not have to define your financial future. What You'll Learn: ➡️ Why your 30s and 40s are exactly the right time to start thinking about retirement ➡️ The 10-10-10-70 budget model and how to use it to build real financial momentum ➡️ The difference between compound interest and capital appreciation — and why it matters ➡️ What dollar cost averaging is and why it's one of the most powerful investing strategies ➡️ How to use diversification to protect your portfolio from volatility ➡️ Why 401(k) and 403(b) plans are one of the best wealth-building tools available to you ➡️ What to do if you're 45 with nothing saved — and why today is still the right day to start ➡️ How to build a retirement budget that reflects your actual lifestyle (not your current one) ➡️ The 4% rule and how to turn your savings into a sustainable income stream ➡️ Why owning your home free and clear before retirement is a game-changer ➡️ The emotional side of retiring — and how to transition well from accumulation to annuitization ➡️ Why "fun jobs" in retirement can protect your health, your mind, and your budget ➡️ How to create an estate plan and why beneficiary designations trump your will ➡️ The "house is on fire" binder — and why every family needs one Resources: Download Emily’s free budget worksheet and other practical tools at: https://faithfulfinance.com/resources Buy Emily’s Book: Purchase Faithful Finance by Emily Stroud on her website: https://faithfulfinance.com/resources/ Support the Show: ✅ Follow or subscribe so you never miss an episode ✍️ Leave a review and share your biggest takeaway 📲 Share this episode with someone who needs encouragement about debt Connect With Emily: Facebook: https://www.facebook.com/EmilyGStroud/ Instagram: https://www.instagram.com/emilygstroud/ Threads: https://www.threads.com/@emilygstroud YouTube: https://www.youtube.com/@faithfulfinancepodcast Connect With Alison: Instagram: https://www.instagram.com/amgengelbach/ Credits: A Faithful Finance production. Executive Producer: Emily Stroud Produced by Greatlight Creative: https://www.greatlightcreative.com Emily G. Stroud, MBA, CFA is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC to residents of: TX, UT, WV, NY, OK, PA, SC, TN, AR, AZ, GA, ID, IL, KY, MT, and NC. Investment Advisor Representative Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Stroud Financial Management, Inc. are not affiliated. Cambridge and Emily G. Stroud, LLC are also not affiliated.Check the background of this financial professional on FINRA’s BrokerCheck: BrokerCheck.FINRA.org | www.FINRA.org | www.SIPC.org | Form CRS

Episode 7: Investing In Real Estate

What if the key to building lasting wealth is already sitting right under your roof? In this episode of the Faithful Finance podcast, Emily Stroud and Alison Gengelbach dive into Secret #7: The Faithful Invest Wisely in Real Estate. With a blend of humor, personal stories, and deep financial expertise, Emily walks listeners through exactly how to buy a home with wisdom, discipline, and confidence — without letting emotion drive the decision.  Drawing from her banking background and years of buying, renovating, and selling homes, Emily makes one of life's biggest financial decisions feel approachable, practical, and grounded in biblical truth. From the 25% affordability rule to the tax-free wealth-building potential of your primary residence, this episode is a must-listen for anyone thinking about buying, selling, upgrading, downsizing, or simply wanting to understand how to steward real estate well. What You'll Learn: ➡️ Why you should never look at a house you can't afford — and what to do first ➡️ How to determine exactly how much house you can realistically afford ➡️ The 25% rule for housing costs and why it protects your entire financial plan ➡️ What property taxes, HOA fees, and utilities actually add to your monthly payment ➡️ How to evaluate a fixer upper vs. a new build — and why you always need a cushion ➡️ The major tax advantages of your primary residence ($250K–$500K tax-free profit) ➡️ When renting makes more sense than buying — and when it doesn't ➡️ The difference between a 30-year mortgage, 15-year mortgage, and an ARM ➡️ How to avoid becoming "house poor" and what that actually looks like ➡️ Why you should never buy a new home before selling your current one ➡️ How Emily and her husband used real estate repeatedly to build wealth tax-free ➡️ The biblical principle of counting the cost before you build — straight from Luke 14:28 Resources: Download Emily's free budget worksheet and other practical tools at: https://faithfulfinance.com/resources Buy Emily's Book: Purchase Faithful Finance by Emily Stroud on her website: https://faithfulfinance.com/resources/ Support the Show: ✅ Follow or subscribe so you never miss an episode ✍️ Leave a review and share your biggest takeaway 📲 Share this episode with someone who is thinking about buying a home Connect With Emily: Facebook: https://www.facebook.com/EmilyGStroud/ Instagram: https://www.instagram.com/emilygstroud/ Threads: https://www.threads.com/@emilygstroud YouTube: https://www.youtube.com/@faithfulfinancepodcast Connect With Alison: Instagram: https://www.instagram.com/amgengelbach/ Credits: A Faithful Finance production. Executive Producer: Emily Stroud Produced by Greatlight Creative: https://www.greatlightcreative.com Emily G. Stroud, MBA, CFA is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC to residents of: TX, UT, WV, NY, OK, PA, SC, TN, AR, AZ, GA, ID, IL, KY, MT, and NC. Investment Advisor Representative Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Stroud Financial Management, Inc. are not affiliated. Cambridge and Emily G. Stroud, LLC are also not affiliated. Check the background of this financial professional on FINRA's BrokerCheck: BrokerCheck.FINRA.org | www.FINRA.org | www.SIPC.org | Form CRS

Episode 6: The Risk Nobody Talks About

What if preparing for the worst is actually one of the most loving things you can do for your family? In this episode of the Faithful Finance podcast, Emily Stroud and Alison Gengelbach dive into Secret #6: The faithful insure themselves against disaster.  Through deeply personal stories—Emily's mother's decade-long battle with dementia, her father's heart attack, and her husband's emergency heart surgery—this conversation makes the case that insurance isn't about fear. It's about love, stewardship, and protecting the people you cherish most before a crisis arrives. Emily breaks down the three pillars of disaster protection: disability insurance (often the most overlooked), life insurance (for both spouses—including stay-at-home parents), and long-term care insurance (the one that can quietly wipe out a lifetime of retirement savings). She explains exactly what Medicare does—and critically, what it doesn't—cover, and why waiting until you "need" insurance is often too late. The episode closes with a reminder that while earthly insurance protects our finances, there's an even deeper assurance available through faith in Christ—an eternal insurance that provides hope no matter what storms come. What You'll Learn: ➡️ Why disability insurance is often more critical than life insurance ➡️ How disability can be more financially devastating than death ➡️ When and how to sign up for short-term and long-term disability at work ➡️ The difference between term life and permanent life insurance—and which fits most families ➡️ Why stay-at-home parents absolutely need life insurance too ➡️ How to calculate how much life insurance your family actually needs ➡️ What long-term care insurance covers—and why it matters so much in your 50s and 60s ➡️ Why Medicare does NOT pay for assisted living, nursing homes, or memory care ➡️ How Emily's mother's 11-year dementia journey illustrates the real cost of care ➡️ Why getting insurance when you're young and healthy is always the right move ➡️ How proper planning lets you focus on loved ones—not finances—during a crisis ➡️ The spiritual anchor: faith in Christ as our ultimate "eternal insurance" Resources: Download Emily’s free budget worksheet and other practical tools at: https://faithfulfinance.com/resources Buy Emily’s Book: Purchase Faithful Finance by Emily Stroud on her website: https://faithfulfinance.com/resources/ Support the Show: ✅ Follow or subscribe so you never miss an episode ✍️ Leave a review and share your biggest takeaway 📲 Share this episode with someone who needs encouragement about debt Connect With Emily: Facebook: https://www.facebook.com/EmilyGStroud/ Instagram: https://www.instagram.com/emilygstroud/ Threads: https://www.threads.com/@emilygstroud YouTube: https://www.youtube.com/@faithfulfinancepodcast Connect With Alison: Instagram: https://www.instagram.com/amgengelbach/ Credits: A Faithful Finance production. Executive Producer: Emily Stroud Produced by Greatlight Creative: https://www.greatlightcreative.com Emily G. Stroud, MBA, CFA is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC to residents of: TX, UT, WV, NY, OK, PA, SC, TN, AR, AZ, GA, ID, IL, KY, MT, and NC. Investment Advisor Representative Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Stroud Financial Management, Inc. are not affiliated. Cambridge and Emily G. Stroud, LLC are also not affiliated. Check the background of this financial professional on FINRA’s BrokerCheck: BrokerCheck.FINRA.org | www.FINRA.org | www.SIPC.org | Form CRS