Diversify your savings and investments so all your eggs are not in the same basket. Scripture instructs you to give a portion to seven or eight because you do not know what troubles may come upon the Earth. It also instructs you to seek safety in the multitude of counselors. When all eggs are in one basket all of them can be destroyed by one person’s malfeasance, but when they are in different baskets one person’s malfeasance does not destroy the wealth God intends for you to manage, live on, and distribute to help other people.
Per the biblical diversification principle, it is prudent over time to have accounts at different brokerages and/or 401k type plans that contain a few broadly diversified index funds (such as an S&P 500, Mid-Cap, Russell 2000, Total U.S. Market, etc.) because you do not know the financial / economic troubles that may come upon the earth or the evil that an investment manager may engage in that could cost you all or a significant portion of your wealth if all your holdings were in one account. Historically speaking, it is highly unlikely that more than one in eight brokers or investment managers would engage unsound or illegal activity because most of them appear honest and would not intend to strip clients of their money. You simply do not know which one might act unwisely or illegally. Thus, it is better to follow the LORD’s diversification wisdom by putting savings in seven or eight investments so you are not worried or very sorry later on because you followed earthly wisdom and concentrated all your wealth at one brokerage, one investment, or one investment company.
The Holy Spirit wants you to follow biblical principles, like those in the last six articles so you always chart and know the state of your income, expenses, assets, and liabilities because they are necessary for developing your ongoing monthly budgets (giving, saving, spending plan) and at least once per year charting your financial net worth. They will also help you achieve total debt-freedom and build wealth by setting aside more income each month and putting the money in investments that multiply it so you are good ground that over time returns 30, 60, and 100-fold more than the LORD initially entrusts to you.
Continual intimacy with Him through prayer, praise, worship, mentoring from and accountability to Christian lifestyle & financial good stewards will help you run and win the race set before you while helping you avoid many mistakes that would otherwise derail you and the purpose He made you to accomplish.
Please pray for this ministry, email me with any questions, and contact me to speak at your business/ministry’s conference/workshop. May the LORD bless you richly as you follow His plan!
Proverbs 15:22, Ecclesiastes 4:12, 11:2, Matthew 25:14, Luke 19:12
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