MoneyWalk 453 God Owns It All

This program will help you undo financial bondage.

The first and foremost principle that must be adhered to if you want to be a good money manager who moves into the wealthy place is to recognize that God owns everything. You must believe it and take actions aligned with this belief. Unfortunately, most people never move from a point of believing that their income and wealth is wrought by the work of their own hands or intellect.

This false belief does not lead to their benefit because it does not move them in the purpose for which the LORD created them and thus into the level of blessing He desired them to have and use for building His kingdom in the hearts of men. Many people have financial difficulties in this life brought on by their lack of understanding and failure to act on His will for their lives and finances.

He certainly wants his people to be fruitful and prosper and gives them the ability to get wealth to establish His covenant in the earth. Yet, many people act on a selfish desire to be rich that is produced by the fleshly worldview that surrounds us daily (mind, emotion, will, and body wanting to experience the comforts riches provide without carrying out their responsibility to glorify Him and serve other people). This often leads to marriages breaking asunder, neglecting children, being a workaholic, forsaking local church fellowship, and failing to evangelize and disciple other people. Some have been unwilling to change such behavior because in their hearts the most important thing is making it big and receiving honor from men.

Let’s be clear, there’s a small percentage of people with wrong attitudes, motives, and actions that earn huge incomes and accumulate great riches on earth and they are often honored by people because of what they have; wealth, high status, and notoriety among men and worldly institutions. However, we must not automatically assume that one’s level of earthly riches is evidence that God is pleased with him/her or that he/she is living in His will or handling money in a way pleasing to Him.

Everyone needs to pursue the LORD’s purpose for his/her life by maintaining an intimate relationship with the Holy Spirit to hear His voice tell them which legitimate activities, careers, businesses, and investment opportunities they should pursue and how to pursue them. Believers will sometimes engage endeavors that appear to fail. Yet, according to the Word, (a) we can always be sure what we do for Christ will last, (b) we will accumulate all the wealth needed on earth to help us accomplish our purpose, (c) we will successfully achieve God’s purpose for our lives, and (d) we will receive great eternal reward. Earthly failure is not really failure when it shows what you’re not fashioned for and helps sharpen your skills and abilities so future endeavors can be successful in helping you get to the wealthy place.

Recognizing and acting on the fact that the LORD owns it all will keep you from seeking to obtain riches by engaging in immoral, illegal, criminal, detrimental, and other activities that are not pleasing to Him. It will also help you understand that if you engage such activities eventually you will get caught on earth by men or by Him at The White Throne Judgment. Then, everything you thought was gain will suddenly become a huge loss. The bible is clear that anyone and everyone that does not turn to Jesus Christ before they leave this earth will be eternally disappointed. Finally, acting on the fact that He owns everything will help you understand that being unsaved and judged morally bankrupt by God brings on an eternal consequence that cannot be overcome with accolades of success you might receive on earth (names on buildings, honor of men, awards, etc.). Desire to be in the wealthy place He designed for you by doing things that please Him and doing them in a Christ-like manner. You can never go wrong with this pattern.

Please pray for this ministry and email me with any questions. May the LORD bless you richly as you follow His plan!

Psalms 90:1-2, Isaiah 43:10-11, Ephesians 3:9-10, Revelations 4:10-11

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

MoneyWalk 452c Unequal Pay High-Income Earner Stewardship

This program will help you undo financial bondage.

Though situations can differ, a basic plan for a person that recently started earning high income might look something like the following. Draft a will, trust, durable financial and healthcare powers of attorney with incapacity clauses, and other documents needed by your dependents in-case of disabling affliction or death. Also, purchase 20 to 30-year equal premium term life, long-term care, umbrella, and other insurance coverages you need and make sure you assign appropriate beneficiaries to all your insurance, savings, and investment accounts.

Let’s say you make $1 million and receive $600,000 after taxes. You should forsake debt. You should not borrow to buy or do things. The tithe, offerings, and alms may be about $112,000. In the first year of earning high income, save $300,000 in an emergency fund (6 months take home pay). Rent a nice apartment for $2000 per month ($24,000 annually). Buy a $30,000 car debt-free. Invest $86,000 in a diversified portfolio of no load low expense stock index mutual funds. And, keep $4,000 of monthly spending money ($48,000 annually) for groceries, utilities, insurances, personal needs, and desires.

The second year, give tithes, offerings, and alms of $124,000. Continue to live in the $24,000 per year apartment, keep your debt-free car, invest $300,000, and increase your monthly spending money to $5,000. The remaining $92,000 could be put into a high-yield money market account for an eventual home purchase after your fifth year of earning high income. Pay increases will help increase giving, saving, investing, and spending. Repeat this plan over the next few years.

In the sixth year, you will have accumulated approximately $1.5 million for retirement and future business endeavors. Do not overlook the fact that if you do not earn as high an income in future years, you will need substantial liquid wealth from which you can draw an income that allows you to live in the manner you are accustomed to. As you get older you will need greater comfort and convenience than you need now. You could also modestly increase spending and purchase a home debt-free with cash you diligently saved (at least $460,000). Any savings remaining could be put toward the debt-free purchase of a new car.

No plan is perfect, however having a plan based on biblical principles is the right way to go. Undisciplined spending with no attention to budgeting, staying out of debt, giving, saving, investing, and purchasing things to impress people will ultimately put you in financial bondage. You will be broke, disgusted, and can’t be trusted like many former high-income earning athletes and entertainers who did not responsibly manage money during their careers. You never have to be in that position because you have Holy Spirit power and ability within you to do better while bringing honor to Him in the process.

Please pray for this ministry and email me with any questions. May the LORD bless you richly as you follow His plan!

Genesis 1:27, Exodus 19:5, Psalms 50:10, Ecclesiastes 12:1, Ephesians 3:9

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

MoneyWalk 452b Unequal Pay High-Income Earner Stewardship

This program will help you undo financial bondage.

On an eternal scale, no one can escape the negative consequences of failing to live out the following principles and most people never escape the earthly consequences of such failure. Therefore, you should resolve to use wisdom in managing your life and income to get the best out of life and godliness:

1. Recognize that everything you have is the LORD’s. You are only a manager who should look to Him for instructions on how to manage life and money. This requires that you show contentment and self-control when it comes to spending.

2. Honor God by tithing and offering the moment you receive any income. Give to ministries and charitable endeavors that please His heart and help you fulfill your purpose while on earth.

3. Sacrifice short-term opulent purchases when you need to. Choose delayed gratification and long-term well-being by living within your means. Otherwise, when your outgo exceeds your income, your upkeep will be your downfall!

4. Eliminate all debt. Plan and budget to buy houses, cars, and other merchandise with cash and not borrowed money.

5. Do not cosign loans for anyone and avoid all the cousins who crawl out of the woodwork to help you spend your newfound cashflow.

6. Save at least 10% of gross income in liquid accounts as a rainy-day fund to help you make it through job loss and layoff, emergencies, and catastrophes. Establish at least a $10,000 emergency fund and even more when you’re in an industry where pay is uncertain and unequal from month to month.

7. After all debt is paid and the emergency fund established, invest the 10% and more in no load low expense stock index mutual funds (large cap, midcap, small cap, and international) in equal percentages because they have a history of significantly higher growth than fixed income savings and inflation. People that have high income that is unequal and uncertain from month to month and year to year (entertainers, actors, professional athletes, etc.) should invest at least 30% using reputable brokerages like Vanguard, Fidelity, Charles Schwab, etc. Debt freedom and good stewardship will allow another 10% or more of gross annual income to be set aside for investing in more risky ventures after researching them and noting the purveyors are reputable and offering great opportunity for extremely high growth.

8. Diversify your investments using seven or eight trustworthy brokerages and bank. While you should have a multitude of counselors, it is not best to let any one person have power-of-attorney or ability to spend your income and assets; not your agent, attorney, accountant, manager, personal assistant, etc. Generally, it is best that you and your spouse maintain such control and give specific instructions and limited access to your money and accounts when you want any of your helpers to handle specific financial concerns for you.

9. Have an estate planner help you craft a will, trust, durable power of attorney with incapacity clause and other estate plans / guidance for personal representatives that work best for you and your family.

Please pray for this ministry and email me with any questions. May the LORD bless you richly as you follow His plan!

Genesis 1:27, Exodus 19:5, Psalms 50:10, Ecclesiastes 12:1, Ephesians 3:9

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

MoneyWalk 452a Unequal Pay High-Income Earner Stewardship

This program will help you undo financial bondage.

We’ve all heard about major league sports athletes, singers, musicians, and other famous people going broke after having made enormous incomes during a period of their lives. The minimum salary for some major league sports athletes can be $500,000 per year or more and continues to rise each year. In addition, they normally get generous raises when their service stretches into successive years even if they sit on the bench all those years.

Many of the other celebrities and high-income earners don’t have minimum or maximum salary tables. Their income is dependent on how many sales they can make of their endorsement on products, services, concerts, speaking engagement, etc. Most people have seen the ‘Cribs’ shows that give us a glimpse into the opulent mansions and array of expensive cars they sport. We also hear that they purchase clothes, jewelry, and other items that cost tens of thousands of dollars a whop.

Despite the high incomes many have earned for at least a few years and some for many years, we continue to note a great number who are broke not many years after they reached the height of fame and fortune. Many people think the greatest culprits are:

1) The same amount of income is no longer coming to them.

2) The average longevity for being on top in the entertainment / sports arena is a few years.

3) These stars are at the mercy of industries either don’t have pension plans they can draw from or the plans pay a fraction of what they earned during their careers. This is exacerbated for those who spent many years in the industry and made the highest incomes.

4) Some don’t have much formal education or other skills to fall back on once the high income is gone.

However, all is not as it seems. What really caused most to go broke is the fact that they did not follow scriptural instructions for managing finances. They chose to follow the path so many of their comrades follow and that the world teaches and examples for them: Spend recklessly and spontaneously without planning for the future which often does not provide as much income as one makes at the height of income-earning years. Make it rain baby! Thus, there are minimum salary makers trying to live like industry icons, taking on more debt than they receive in income.

Sure, there is a low percentage who never lose all the fame and high income. Yet, the majority will only have a moment or few years of fame and then their incomes will drastically drop. History and a good understanding show us even icons can fall and go broke when they do not employ good financial & lifestyle stewardship. Thus, we should walk in wisdom leading to a debt-free, giving, saving, and investing lifestyle that is as concerned with our ability to live twenty years from now as it is with our current comfort.

Please pray for this ministry and email me with any questions. May the LORD bless you richly as you follow His plan!

Genesis 1:27, Exodus 19:5, Psalms 50:10, Ecclesiastes 12:1, Ephesians 3:9

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