This
program will help you undo financial bondage.
Many people suffer great personal
financial and business loss and are forced into foreclosure and bankruptcy when
dire economic situations occur, like the stock market or housing market overall
value being reduced by ten percent or more or products and services they sell
are no longer being bought in high numbers by customers. However, these are
often not the real culprit of their financial problems. If they were not quickly
and continually spending all their income / revenue and had over time built a
reasonable amount of emergency funds and liquid investments, then they would be
able to make it through these trying times without great loss.
Recessions on average occur once every decade
and only last an average of eighteen months. If they only had to withdraw a
small portion of their wealth during downturns then they’d be able to make it until
the market returns to its former levels, and they’d receive of its massive
increases that usually occur until the next recession. Customer loss would also
be helped by good personal and business financial stewardship displayed prior
to the recessionary intervals. This includes wise decision-making, eliminating unnecessary
operational expenses, selling old excess inventory at low prices to build reserves,
stop making products and offering services that don’t have profitable sales
results, wise marketing / advertising campaigns, and pivoting as necessary to
draw in the customers necessary to support your business and keep it going.
Those who don’t employ good money
management practices will experience unemployment and loss of income. It will
seem like, all of a sudden, they have more in monthly debt payments than their
monthly income / revenue can handle. However, this really happened over time
because they failed to see consequences of poor stewardship during good
economic cycles. Many people had a heavy concentration of assets in one company
or one sector of the market and usually in a faddish one whose value had long
ago risen to astronomical levels. Then, the value fell precipitously when the
bad market reared its head. All of sudden the assets they thought would protect
them are not enough to cover the debt payments they owe.
Poor stewardship practices that result in
people experiencing a downward financial spiral are failure to:
**Refuse to quickly pursue a debt-free
lifestyle.
**Establish a budget to intimately know
income and appropriately manage expenses.
**Eliminate debt during past rising
economies and bull markets when they had increased revenue and income.
**Quickly reduce unnecessary expenses prior
to seeing signs of economic trouble.
**Build an emergency fund in high yield
savings accounts at banks or credit unions in order to take care of their
expenses in emergency situations.
**Put at least 10% of gross monthly income
in investments that have a long-term history of average annual double-digit growth.
**Diversify assets overtime by putting
portions in different classes of investment with seven or eight brokerage
houses (Vanguard, Fidelity, TIAA-CREF, Charles Schwab, etc.).
**Understand that getting more debt will
not help them alleviate financial problems.
Increasing financial education will help
you understand that taking on more debt does not lead to debt elimination
rather it leads to debt accumulation. It also helps you find equity investments
that have a history of solid long-term growth so you can choose them for your
diversified portfolio and control emotions to maintain your investments when
there are short-term market gyrations. Most people do not reap huge long-term
growth because they constantly buy investments at high prices and sell them at
low prices. Your long-term conservative yet moderately risky plan will cause
you to buy investments at low prices and sell them at higher prices. It will
help you avoid speculative investments and business deals that would become
worthless before you could sell them or get your money back.
Short-term losses in the equity market
will occur for even the most astute investors. However, they quickly subside
and the market roars back to a point much higher than it was before it went
down. In addition, recessionary economies and bear markets do not negatively
affect every business and type of investment. There are always some that thrive
when others experiences losses. Thus, you have the ability to overcome losses
and experience tremendous growth when you engage the biblically based
discipline of good stewardship.
Deuteronomy 28:12, Ecclesiastes 11:1-2,
Acts 6:3, Romans 13:8
Please
pray for this ministry and email questions to parlor@ameritech.net
and share the links below with others who need guidance. May the Lord bless you
richly as you follow His plan!
Share https://kminfo.org/ministries/financial-freedom
weekly with family and
friends so these bondage-breaking articles and other financial information can
help them gain helpful insight! @everyone
The
book at the link below provides principles and practical steps that help you
use the Power to Get Wealth. By 1992, we had $135,000 of debt and
a negative $35,000 net worth. Financial bondage and turmoil led me to seek
principles and a process for employing good stewardship. As a result, we became
constructively debt-free in 1998, mortgage free January 2004, millionaires in
2012, multi-millionaires shortly thereafter, and retired in 2018 in my
mid-fifties from public servant jobs while giving abundantly to fund the gospel
of our LORD Jesus Christ. The same power is available to you!
https://www.amazon.com/Power-Get-Wealth-Randy-Parlor-ebook/dp/B08QCH5MVH/ref=sr_1_2?keywords=Randy+Parlor&qid=1638336718&s=books&sr=1-2
You can find books authored by Randy and
Karen Parlor at www.Amazon.com.
You can also connect with
Randy Parlor on Facebook, Twitter, LinkedIn, Instagram, Google Blogger,
WordPress, Pinterest, TikTok, Tumbler, and You Tube.
