Be as simple as you can in managing your finances and life, so you are not stressed out. This requires only 3-4 hours per week to manage your finances. When investing, dollar cost average for the long-term for simplicity sake and don’t worry about short-term fluctuations in the investment markets. Only invest in a more-risky manner once you learn overall good stewardship principles, develop expertise in various forms of investing, ensure that your family is well cared for, and understand the risk of loss associated with such investment.
Much of your financial plan, money management, and investing can be self-directed using a simple seven step pattern I discuss in other articles, however if you must hire a financial advisor to help you, pick one that is knowledgeable and trustworthy and that will not charge you sales charges for purchasing investments and will not charge you management fees greater than one-half of one-percent per year. Always understand that you must still research and learn so you maintain authority and direction and guide the financial planner as to where you want the money to be invested after he/she provide recommendations for you. Make no rash, quick decisions knowing that there will always be tomorrow, which allows you to spend a few days verifying the historical pattern / record of the recommended investments and determining if they are risk you are willing to hold for the long-term because you believe they fit your tolerance and will be as profitable as the need to be to help you meet your goals.
Some people think a financial roadmap consisting of an overall vision with short, medium, and long-term goals destroy dreams. In reality, it wisely facilitates the ability of dreams to come to pass and does so in a manner that helps you be a good steward, maintain the dream, and live in financial peace. Your first inclination should be to ask God what He wants from your stewardship of His money and how He wants you to spend it on things beyond needs for yourself, your family, and the Church.
The Lord has rewarded many average wage earners who used the simple, wise approach described above thus enabling them to give much more for service that helps others and spreads the gospel, live totally debt-free by eliminating lots of debt in a few years, build a million-dollar net worth in less than twenty years, and not have to worry about the ups and downs the economy cyclically endures. His wise plan produces a unique prosperous place for each person who consistently uses biblical financial principles.
Be thankful for the current blessings He provides and be forever content at every stage of life while serving His interests, giving abundantly, and doing good works in your community. Ultimately, your obedience to His principles will produce an ability to live at a more expensive level if He so desires. In order to be safely and securely in His blessing, your roadmap should focus on first taking care of that which is necessary, then on reaching for that which is possible yet difficult, and then you will find that He will help you do and live the impossible.
Please pray for this ministry and email me with any questions. May the LORD bless you richly as you follow His plan!
Proverbs 10:22, Luke 14:28, Romans 13:8, Ephesians 5:15-17
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