MoneyWise Live


Losing Everything with Jonni McCoy

August 22, 2018

In Luke 12— Jesus tells a crowd "One's life does not consist in the abundance of his possessions.' Could you accept the loss of all your material things or are you building bigger barns to hold it all like the rich fool? Financial planner and teacher Rob West talks with Jonni McCoy who experienced that loss first hand and learned what’s really valuable. 

Many  know Jonni McCoy as an expert in pinching pennies around the house. She’s a blogger, speaker and author of Miserly Moms which is now in its fourth edition. 

The Ranch Fire just north of San Francisco is the largest in California’s history with nearly 360,000 acres burning.  There are so many folks are experiencing what Jonni did.  Jonni has an amazing story to tell that will inspire listeners. Jonni takes us back to June of 2012 when she was living in Colorado Springs with her husband and daughter and the Waldo Canyon wildfire was burning just outside the city.  65 mph winds blew the fire into the city without warning and destroyed 18,000 acres.  It was the worst fire in Colorado history.  All 3 got out safely but all possessions were lost.  From that episode, Jonni recounts her emotions and reaction to the tragedy and answers these and other questions:

It would be easy to grieve the loss of personal mementos, photos and items passed down in your family— and perhaps to feel some bitterness toward God for allowing this to happen. Did you experience that and what have you learned?

  • How did this experience strengthen your faith?
  • What did you learn with regard to the proper coverage needed?
  • What about current photos of every room? 
  • Is there anything you would have done differently?

Next, Rob and Steve tackle listener questions at 800-525-7000 and via email to Questions@MoneyWiseLive.org on a variety of topics:

  • If all debt is paid off and you have enough to pay off your mortgage, is there any reason at all to keep paying at the normal schedule?
  • If you're debt-free, 64 and want to retire at in a year but want to buy a house that's more expensive than your current equity, should you use funds from your annuity or your 401(k) to bridge the gap between the equity in your current home and the next one?
  • What's historic about the original broadcast day of this edition of MoneyWise Live?
  • Is there a guideline to calculate what your taxes are going to be next April given the tax changes that have taken place lately?
  • If you're doing pretty well but have a casual budget, what's the best way to get on a more rigid budget?

Be sure to check out our new website at MoneyWiseLive.org to connect with a MoneyWise Coach or access our books, videos, or any of our free helpful resources.  Thanks for your prayerful and financial support that helps keep MoneyWise Live on the air.  And if you'd like to help, just click the Donate tab at the top of the page.