THE AM QUARTERLY NEWSLETTER | 2021
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PREPARING FOR THE FUTURE
By Pastor George Lopez
Over the past 35 years, I worked as a Chief Financial Officer, Vice President of Finance, and briefly as a Securities Advisor. For many years, one of my responsibilities involved managing the retirement plans. The United States created these programs to encourage workers and business owners to prepare themselves for retirement. Unfortunately, a crisis exists. Workers fall short in providing for their retirements. Forty-eight percent of people have less than $10,000 saved for retirement. Fifty percent of Baby Boomers say that all or part of their retirement income will come from Social Security. Currently Social Security pays an average of $1,340 per month for retired individuals. As a Securities Advisor I learned that the MAIN CRISIS IS THE LACK OF KNOWLEDGE OF RETIREMENT PLANNING. Luke 14:28 reads, “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?” How many people today regret not saving for their retirement? If I could advise people concerning only one piece of advice, it would be to educate yourself on retirement. An overwhelming amount of free literature and videos exist.
DIRECTORS & EXECUTIVE OFFICERS
As the newest director of Apostolic Mutual, I feel so much joy in knowing the Apostolic Mutual offers retirement investing at apostolicmutual.org/iras/. Here, you can start investing for the future in either a Traditional IRA, a Roth IRA, a SEP IRA, a SIMPLE IRA, or an Educational Savings Account depending on your personal situation. If you own investments outside of Apostolic Mutual, take into consideration that Apostolic Mutual offers you something that very few retirement programs can. Apostolic Mutual offers you the opportunity to support Apostolic Churches to re-finance and reduce their mortgage payments while eliminating many closing costs, renovating their churches, and providing loans for the purchase of buildings to create sanctuaries. I truly believe that God rewards us when we take steps to build His Kingdom. Before you invest in Apostolic Mutual, be sure to read the Offering Circular which explains in detail your investment with Apostolic Mutual.
JOHN FORTINO, CHAIRMAN AM QUARTERLY NEWSLETTER FELIPE LUGO, VICE CHAIRMAN EDDIE CAMPA, EXECUTIVE DIRECTOR JOSEPH V. RODRIGUEZ, DIRECTOR JORGE MONTES, DIRECTOR LEOBARDO MAFFEY, DIRECTOR GIL AGUILAR, DIRECTOR SUZANNE VALENCIA, DIRECTOR YVONNE VASQUEZ, DIRECTOR GEORGE LOPEZ, DIRECTOR
LOAN COMMITTEE
FELIPE LUGO ELISEO RAMIREZ MATTHEW GARCIA MARTIN AMADOR CELEDONIO SALDAÑA
If you are a Pastor, please consider taking steps to set up a retirement plan for yourself and your wife. Inevitably, the day will come when you both will need it. Set aside a portion of your earnings plus what the church can provide to start with an initial investment. Educate yourself by reading articles and books. Seek out investment advisors at your local banks. In my experience, they will always provide free information with the hope that you will invest with them.If you are a member of an Apostolic Church, take steps to encourage the congregation to provide for the spiritual leader of your church. Insist on setting aside as much as possible within the provisions granted for pastors in the Apostolic Assembly Constitution.
FINANCE COMMITTEE GIL AGUILAR SUZANNE VALENCIA ISAI BAEZA
COMPLIANCE COMMITTEE JORGE MONTES YVONNE VASQUEZ ERICKA JUÁREZ
STAFF
ABRAHAM MAFFEY, ACCOUNTANT ESTEBAN ROBLEDO, LOAN OFFICER GLADIA PACHECO, BUSINESS RELATIONS EVA RODRIGUEZ, ASSIST. EXECUTIVE DIRECTOR DAVID S. TELLYER, AM EDITOR DOMINIC MOSCHETTI, CREATIVE DIRECTOR
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May the Lord bless you. Pastor George Lopez joined Apostolic Mutual recently as a Director in April of 2021 and currently serves as the ELA District Treasurer, and has been the Pastor of the La Habra Church in La Habra, CA since 1995.
THE AM QUARTERLY NEWSLETTER | 2021
FEATURED ARTICLE
A PASTOR BENEFITS FROM RETIRING WITH APOSTOLIC MUTUAL By David Silas Tellyer A FOUNDATION OF GRATITUDE
Over nineteen years ago, Pastor Mario Landa began the Fourth Church of Santa Ana in a public park since they did not have a building to meet. From those humble beginnings, he shared a vision for their own building to worship God. During those outdoor services, Tabernaculo de Fe y Amor birthed a desire to work together to create a church that gives not from obligation, but from gratitude.
REALIZING THE VISION
After thirteen years of implementing his vision, Tabernaculo de Fe y Amor positioned themselves to walk through a door that God opened. In 2015, after years of working and giving from their hearts, God provided the opportunity for the church to purchase The Church of Zion’s building. Pastor Landa describes themselves as “a small church that takes giant steps, always trusting in God and asking ourselves: Why not?! Why not have your own temple? Why not have a presentable temple worthy of the Lord?” However, to walk through the door God opened, Pastor Landa needed $100,000 more than they saved. So, in one month with the wisdom of the church administrator and the giving of the church members, they raised the money to start the purchase of the building.
THE CHALLENGES OF RETIREMENT
After nearly twenty years of leading the local church, Pastor Landa started to consider plans for retirement. However, he quickly learned that “planning for retirement is a time consuming job.” He and his wife visited banks within his community, and requested information from them, but they “did not feel confident in opening these types of accounts with them since the information they provided me was not enough.”
with them towards his retirement. And after several meetings and discussions, Pastor Landa confirmed, “Apostolic Mutual gave me confidence and security because they understand the needs and challenges that pastors face. They took the time to educate me on the financial resources that are available about [topics] that I did not know.” Pastor and Sister Landa appreciated the treatment from the Apostolic Mutual staff “their kindness, seriousness, and respect when we had questions and doubts was valuable to me and my wife. They made the process easy with clear and concise answers.” And, because of their positive and honest relationship with the Apostolic Mutual staff, Pastor and Sister Landa each opened a Roth Individual Retirement Account (IRA) that suited their personal retirement needs and situations. continued on page 4
At the National Convention, Pastor Landa heard a presentation made by Apostolic Mutual, and they discussed having a retirement program for pastors to invest. Quickly, he caught the vision of this opportunity and how this investment had “different uses for the purpose of blessing the Lord’s work locally, nationally, and internationally.”
RETIRING WITH APOSTOLIC MUTUAL
Pastor Landa contacted Apostolic Mutual and started the process of building a relationship THE AM QUARTERLY NEWSLETTER | 2021
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...CONTINUED / A PASTOR BENEFITS FROM RETIRING WITH APOSTOLIC MUTUAL - By David Silas Tellyer
BENEFITS FOR PASTORS PLANNING FOR RETIREMENT
Pastor Landa recommends pastors begin to use the tools and resources we now have as an organization. He stated, “As a pastor, investing in Apostolic Mutual gives me peace of mind and satisfaction by contributing to the continued prosperity of God’s work. At the same time, I am receiving a benefit from our investment that translates into a blessing for our family.” Pastor Landa and his family enjoys the double blessing of the interest earned on their Roth IRAs, and the support from their investment to other pastors, ministers, and missionaries in the Apostolic Assembly. He said, “Soon we will be opening a CD account to increase resources in the fund and receive benefits that we do not currently have with the traditional bank.” Pastor Landa’s vision extends not only to his membership, but to any other pastor that will join him on the journey of blessing one another to enrich the entire Assembly. He believes “investing in Apostolic Mutual will not only be a blessing for the local church, but also other churches; together we can reach new heights as an organization.”
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THE AM QUARTERLY NEWSLETTER | 2021
AM QUARTERLY NEWSLETTER
APOSTOLIC MUTUAL INDIVIDUAL RETIREMENT ACCOUNT FAQ YOU ARE WORTH EVERY PENNY SAVED! Whether you’re just starting to think about retirement or have already built up your nest egg, an Apostolic Mutual Individual Retirement Account (IRA) ensures that your money will be there when you need it most. IRA CERTIFICATE An IRA is also a smart supplement to an existing pension or employer-sponsored retirement plan. • You only need $1,000 to open an IRA Certificate*. • You can invest in Traditional & Roth, or more IRA certificates. • You will benefit from compounding interest.
FREQUENTLY ASKED QUESTIONS
What is a Traditional IRA? A direct tax benefit on the 1040 tax return Contribution and income limits apply (limitations adjusted annually) MAXIMUM: $6,000 (below age 50) / $7,000 (age 50 or older) / MINIMUM: $1,000 What is a Roth IRA? No tax benefit on the 1040 tax return No income limitations (limitations adjusted annually) MAXIMUM: $6,000 (below age 50) / $7,000 (age 50 or older) / MINIMUM: $1,000 What is an Education Savings Account? ESA can be used for college and TK-12 educational expenses Income and age limitations apply MAXIMUM: $2,000 per year / MINIMUM: $1,000 What is a SEP IRA? A direct tax benefit for either the 1040 tax return or the corporate 1120 return Contribution limits apply (limitations adjusted annually) MAXIMUM: Up to 25% of annual income not to exceed $58,000 / MINIMUM: $1,000 What is a Simple IRA? Small business owners with employees Employees can retain employer-matched contributions without vesting MAXIMUM: $13,500 (below age 50) / $16,500 (Workers aged 50 or older) / MINIMUM: $1,000 Is a self-directed IRA secure? Under this non-traditional method, there is minimal risk Funds are secured through current real estate holdings
For answers to additional questions, please contact us at: 909.232.8874 THE AM QUARTERLY NEWSLETTER | 2021
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THE AM QUARTERLY NEWSLETTER | 2021