I responded as follows to questions about the economic depressions and recessions prior to such happenings in 2000 and 2008. The inquirers believed they would be financially devastated by such debacles and/or have to be stock picking and alternate investment gurus in order to withstand them and keep at least some of the little bit they currently had.
First, by the grace of God through faith I devote my life to Christ and worship Him by spending time with Him in thanksgiving, praise, prayer, and studying the bible every day.
Second, I seek to be loving to my wife at all times and each day say I love her, spending quality time praying.
Third, I recognize involvement in at least one ministry at my local church is good for me and my family no matter the current economic situation because it helps me engage and fulfill my and the Church's God-given desire to worship Christ, disciple the believers, evangelize the lost, and do good deeds. I ask the Holy Spirit to help me balance my involvement to make sure it is in proper proportion for the season according to God's will for my life.
Fourth, but also evident in some of the above, I work reasonable hours to obtain the income that my skills can bring and trust that God will (if He desires) in His timing provide more than my skills could merit and that no matter what income I have from time to time He will take care of me as much as necessary in every season because I am His beloved child.
Fifth, my spouse and I intentionally follow a spending plan (budget) that helps us refrain from spending more than we receive in income. Its priority item is tithing and abundant offerings to Jesus Christ via our local Church and providing gleanings for the poor in His name. All that we are, ever hope to be, and have is the LORD's and He can use it any way He chooses!!!
Sixth, within a short number of years God helped us get to the place where we owe no man anything but love. It took us eight years to get there (after being steeped in debt and thus bondage) but we’ve lived God’s debt-free will for almost two decades now. We love it because we’re not moved by the national or local economy, depressions or recessions nor have to make changes based on them.
Seventh, because we live debt-free we've been able to build an emergency fund that will take us through several years if a long-lasting emergency or catastrophe were to occur. We placed such funds, that will be used to pay usual periodic bills and other’s needs, in accounts that provide good guarantees of return of principle and earned interest. If we were to spend the funds below $10,000, then we would reduce our discretionary spending and pursue extra entrepreneurial ventures to bring in extra income until we once again built the fund back to an appropriate level.
Eighth, once we built our emergency fund to $10,000 we put at least 25% of our gross income into equity investment vehicles (no load low expense stock index mutual funds, etc.) that have verified histories of greater long-term returns than we earn in our emergency fund accounts. We still had huge amounts of extra disposable income each month to be able to build a larger emergency fund and to set aside other savings for vehicle replacements, vacations, home renovations, and other things we made plans to do in the future.
If the LORD wills, we aspire to hold on to our equity investments for a very long time and let them compound and grow to enormous levels. we are always cognizant that all we have and ever will have is the LORD’s. We’re only stewards of His possessions. If He tells us to go sell all we have, give to the poor and come follow Him, then we’ll do it without hesitation because He alone is the Prize. If He does not instruct us that way, huge sums are likely to go to our Church and other worthwhile ministries once we are in our heavenly home and while we live on earth abundant sums are already given toward His heavenly aims.
In conclusion, we don’t use any special investment plan or changes to ward off depressionary / recessionary effects. We just keep following biblical principles no matter the current earthly economic conditions. There is never recession in Heaven! As long as we’re in God’s care and intimate with Him we have all we truly need at any given point in time. So, don’t focus your attention as much on the type of savings and investment accounts you need to have during such times, rather focus your attention on following biblical financial principles at all times: budget, eliminate debt, save, invest, and diversify. Over a short period of years, you’ll become depression and recession proof because your trust is in God Almighty and you are thus under His protection and guidance!
Please pray for this ministry and email me with any questions. May the LORD bless you richly as you follow His plan!
Proverbs 3:5-12, 11:24-25, 13:20-25, 16:1-3, 21:20-21, 22:6-9, 24:1-4, 27:23-27, 28:18-20, 30:7-9, 31:10-31
Please forward these bondage-breaking articles to other people who can use helpful insight!
You can find books authored by Randy Parlor and Karen Parlor at www.Amazon.com
You can find many other MoneyWalk articles on Facebook by looking at the NOTES created by Randy Parlor at https://www.facebook.com/#!/profile.php?id=100000444069041&sk=notes.
You can connect with Randy Parlor on Twitter and Linkedin
You can also view and/or listen to MoneyWalk articles at https://www.youtube.com/channel/UCXnztOIesOKIrSd_H6c-8mQ
No comments:
Post a Comment