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 from their talents and fortuitous opportunities. The minimum salary for major league sports athletes approaches $500,000 per year and continues to rise for those new to the league. 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 don’t have minimum salary tables. Their income is dependent on how many of some product, service, etc. their work or persona can sell. Yet, we’ve all seen the ‘Cribs’ shows that give us a glimpse into the opulent mansions and array of expensive cars they sport; at least the low percentage who have made it big. 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 see in our communities those who have returned and hear of a great number who are pretty much broke not many years after they reached the height of fame. What seems to be the greatest culprit is the fact that they stopped making the same amount of money.
Other situations that seem to play a part are the average longevity for being on top in the entertainment arena is a few years and the fact that many of the industries either don’t have pension plans these former stars can draw upon when they are seniors 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. Finally, some don’t have much formal education or generally needed skills to fall back on once the high income has turned into much lower income.
However, all is not as it seems. What really caused them to go broke is the fact that they did not follow God’s universal instructions for managing money and resources that can be found in the bible. Instead, they chose to follow the path that they see so many of their comrades follow and that the world teaches and examples for them: the minimum salary makers trying to live like the icons taking on more debt than they receive in income. Sure there is a low percentage who never lose all the fame and the high incomes that go with it. Yet, there are many more that will only have their moment or few years of fame and then their incomes will drastically change. If there’s one thing history has shown us it is that even icons can fall and lose it all.
Let us all take a lesson away from this; we must use wisdom in managing current incomes and our lives. 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:
1) Recognize that everything you have is God’s and has been provided for you to manage while on earth. You are only a manager who should look to the Owner for instructions on how to manage money and resources.
2) Honor God through tithing and offering the moment you receive each portion of income. Give to ministries and charitable endeavors that please the Owner’s heart and help you fulfill your purpose while on earth.
3) Sacrifice short-term opulent purchases for deferred gratification and long-term comfort when you most need it by living within your means. Even though it’s difficult to see from the current vantage point, remember if your outgo exceeds your income, your upkeep will be your downfall!!!
4) Stay away from and eliminate all debt; high interest debt first. Plan and budget to buy debt-free mansions (houses), cars, and other desired merchandise.
5) Do not cosign loans for anyone and avoid all the cousins who crawl out of the woodwork to help you spend your newfound fortune.
6) Save a substantial amount of your income in liquid accounts to help you make it through eventual downturns, rainy days, emergencies, and catastrophes. Put away at least 6 months of income and even more if you’re in an industry where pay is uncertain from month to month and year to year.
7) Invest a sizeable portion of your pay in good high quality vehicles that have a history of significantly higher growth than the inflation rate. At least 10% starting off and then more as your income grows. Very high income people may want to start off saving and investing at least 30% of their income.
8) Diversify your investments into seven or eight trustworthy institutions and vehicles. 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 when you want any of your helpers to handle specific financial concerns for you.
9) Work with your attorney and other financial professionals to craft a will, trusts, durable power of attorney and other estate plans that work best for you and your family in case of an early demise.
Though situations can differ a basic plan for a beginning high income earner might look something like the following. You make $1 million and receive $600,000 after taxes. You forsake debt and tithe, offer, and give to the needy $112,000. In the first year, you save $300,000 in your 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 (two year old Cadillac, Lincoln, Jeep, Lexus, Mercedes, etc.), invest $86,000 in a diversified portfolio of mutual funds, stocks, etc, and keep $4,000 of monthly spending money ($48,000 annually) for groceries, utilities, insurances, personal needs, and desires.
The second year, you might tithe, offer, and give $$124,000. You would probably not need additional emergency savings, you continue to live in the apartment, keep your debt-free car, invest $300,000, and increase your monthly spending money to $5,000. The remaining $92,000 would be put into a high-yield money market account for an eventual home purchase after your fifth year of earning such high incomes.
At this point, you would likely have over $300,000 in your emergency fund and over $1.5 million in your investment accounts to help you through a downsizing and build for the future. Increases in pay could be used to increase giving and the home fund. If longevity in the industry and high yearly incomes seem inevitable for you at this point you could purchase a home for no more than the cash you have diligently saved in the fund (at least $368,000). If not, this money could be spent on a home that would accommodate your new income level and the remaining amount should be put into your investment accounts and allowed to grow for your latter years when you’ll need the comfort and resources more than you do now.
Though this plan is not perfect, no plan is. However, a plan based on the right principles is better than no plan or one based on wrong-headed principles. The latter plans include willy-nilly spending and purchases to impress others and will ultimately leave you like a former athlete we know; broke, busted, and disgusted. We don’t want you to end up in that position when you have an ability to do better and bring honor to God in the process.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Genesis 1:27, Exodus 19:5, Psalms 50:10, Ecclesiastes 12:1, Ephesians 3:9
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Wednesday, December 2, 2009
Sunday, November 22, 2009
MoneyWalk 451: True Thanksgiving produces Thanksliving
This program will help you undo financial bondage.
It’s easy to think you’re giving thanks on the holiday by following the tradition of having family over and eating lots of turkey, ham, and dressing and watching football games. However, true thanks is signaled by both word and deed in acknowledging the sacrifice of Jesus Christ to win your salvation and eternal life and your action to give of your time and money to spread this good news throughout your family, community, and world.
True thanksgiving can certainly take place in the family interaction that occurs. In order to be so, you need to openly communicate that the meal and favors provided and that have previously been provided are made possible due to the bounty that proceeds from the grace of God almighty. True thanksgiving also needs to take place throughout each year in the giving of our resources to help those outside of our family who are truly in need.
All of us have something to give to help others out and sometimes to simply bless someone else. Even when we don’t seem to have much, we have more than we are aware of. We truly signal that we’re thankful when even in adversity and poverty we give to spread the gospel and help those in need. Those who are not suffering adversity and poverty should do the same to a greater degree.
Scripture signifies that those whose hearts are fixed upon Christ and truly thankful will give abundantly above what it appears they are able to give. Their thankful hearts will abound in overwhelming generosity in both physical service and monetary giving to truly help others on Earth and so that others may know they can have their names written in the book of Life in Heaven. This is the real root of Thanksgiving and when it is truly present it abounds before God and man in a great display of Thanksliving.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
2 Corinthians 8:1-5, 9:10-12, Philippians 4:4-7, 14-17,Colossians 4:2-4
Please forward these bondage breaking articles to other people who can use helpful insight!!!
It’s easy to think you’re giving thanks on the holiday by following the tradition of having family over and eating lots of turkey, ham, and dressing and watching football games. However, true thanks is signaled by both word and deed in acknowledging the sacrifice of Jesus Christ to win your salvation and eternal life and your action to give of your time and money to spread this good news throughout your family, community, and world.
True thanksgiving can certainly take place in the family interaction that occurs. In order to be so, you need to openly communicate that the meal and favors provided and that have previously been provided are made possible due to the bounty that proceeds from the grace of God almighty. True thanksgiving also needs to take place throughout each year in the giving of our resources to help those outside of our family who are truly in need.
All of us have something to give to help others out and sometimes to simply bless someone else. Even when we don’t seem to have much, we have more than we are aware of. We truly signal that we’re thankful when even in adversity and poverty we give to spread the gospel and help those in need. Those who are not suffering adversity and poverty should do the same to a greater degree.
Scripture signifies that those whose hearts are fixed upon Christ and truly thankful will give abundantly above what it appears they are able to give. Their thankful hearts will abound in overwhelming generosity in both physical service and monetary giving to truly help others on Earth and so that others may know they can have their names written in the book of Life in Heaven. This is the real root of Thanksgiving and when it is truly present it abounds before God and man in a great display of Thanksliving.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
2 Corinthians 8:1-5, 9:10-12, Philippians 4:4-7, 14-17,Colossians 4:2-4
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Sunday, November 15, 2009
MoneyWalk 38: What are your assets worth?
This program will help you undo financial bondage.
You'll find that the market value of furniture, appliances, clothing, tools, and cars drop in value drastically over a short period of time. In certain neighborhoods and economic situations, the value of houses, commercial buildings, and land can also drop in value as opposed to the usual appreciation in value that takes place over many years of ownership. This reality of the value of your material goods should help you exercise godly wisdom when making purchases.
Don't put all your effort in accumulating money and goods for earthly purposes. They decay, lose value, and have no eternal worth. Rather, build treasure in heaven by giving abundantly to spread the gospel. The value of this treasure increases throughout eternity and where your treasure is your heart will be also.
God’s highest desire is that you seek a more intimate relationship with Him. Through this fellowship He is likely to provide you with many material blessings. Bible accounts of patriarch/matriarchs with great wealth clearly show that their wealth came from intimacy with God and obedience to His will.
Earthly assets have true worth and eternal value only when they are used to spread the gospel and build the kingdom of God in the hearts of men. So take your cue from these leaders. Engage an intimate relationship with Jesus Christ. Understand that He owns everything ever created and thus has the right to decide its purpose and direct its use. Be wise in acting this out by making sure that everything you do is pleasing to God and every resource you receive is used to serve others, your family, and yourself according to His will. Then your assets will truly have worth.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Matthew 6:33, Mark 10:28-30, Luke 12:32-34, 1Timothy 6:6-10
Please forward these bondage breaking articles to other people who can use helpful insight!!!
You'll find that the market value of furniture, appliances, clothing, tools, and cars drop in value drastically over a short period of time. In certain neighborhoods and economic situations, the value of houses, commercial buildings, and land can also drop in value as opposed to the usual appreciation in value that takes place over many years of ownership. This reality of the value of your material goods should help you exercise godly wisdom when making purchases.
Don't put all your effort in accumulating money and goods for earthly purposes. They decay, lose value, and have no eternal worth. Rather, build treasure in heaven by giving abundantly to spread the gospel. The value of this treasure increases throughout eternity and where your treasure is your heart will be also.
God’s highest desire is that you seek a more intimate relationship with Him. Through this fellowship He is likely to provide you with many material blessings. Bible accounts of patriarch/matriarchs with great wealth clearly show that their wealth came from intimacy with God and obedience to His will.
Earthly assets have true worth and eternal value only when they are used to spread the gospel and build the kingdom of God in the hearts of men. So take your cue from these leaders. Engage an intimate relationship with Jesus Christ. Understand that He owns everything ever created and thus has the right to decide its purpose and direct its use. Be wise in acting this out by making sure that everything you do is pleasing to God and every resource you receive is used to serve others, your family, and yourself according to His will. Then your assets will truly have worth.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Matthew 6:33, Mark 10:28-30, Luke 12:32-34, 1Timothy 6:6-10
Please forward these bondage breaking articles to other people who can use helpful insight!!!
Saturday, November 7, 2009
MoneyWalk 37: You need Jesus Christ in order to make it!!!
This program will help you undo financial bondage.
I can teach you biblical money management principles like tithing, offering, planning, budgeting, debt-free living, refusing to co-sign, saving, investing, and smart lending. I can also show you methods that employ these principles such as organizing, recording, top down bill payoff, leveraging, etc. However, abundant financial blessings derived from these principles and methods won't give you what is most important: A relationship with Jesus Christ providing salvation and eternal life.
A relationship with Christ allows you to bypass the righteous wrath of God that would otherwise judge you as worthy of punishment in Hell because of your sinful nature and sins you’ve committed. Sin produces negative results in your life and renders you unable to achieve lasting inner peace and joy in good and bad times. The wages of continual un-repented sin is eternal damnation but the gift of God is eternal life through Jesus Christ. He is the only person by whom you can be saved!!!
You cannot enter heaven without publicly confessing that Jesus Christ is your Savior and Lord. All you have to do is confess Him now, if you haven’t already done so. Then, you will receive the gift of eternal life and the Holy Spirit will begin to lead you and guide you into truth. He will help you live in a manner that is pleasing to Father God and help you use money and resources in a way that bear much fruit on earth that cannot be corrupted or stolen.
One reward for such a life is that many friends will meet you in Heaven because you played your God-given part in helping them see their need for Christ. Another reward is that you don’t let money entrusted to you become corrupted and moth eaten on earth. Instead, your faith-led acts of worship and service store up meaningful treasures in Heaven that awaits you.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Acts 4:10-12, John 3:16-17, 2Peter 3:9-18, Revelation 12:10-12
Please forward these bondage breaking articles to other people who can use helpful insight!!!
I can teach you biblical money management principles like tithing, offering, planning, budgeting, debt-free living, refusing to co-sign, saving, investing, and smart lending. I can also show you methods that employ these principles such as organizing, recording, top down bill payoff, leveraging, etc. However, abundant financial blessings derived from these principles and methods won't give you what is most important: A relationship with Jesus Christ providing salvation and eternal life.
A relationship with Christ allows you to bypass the righteous wrath of God that would otherwise judge you as worthy of punishment in Hell because of your sinful nature and sins you’ve committed. Sin produces negative results in your life and renders you unable to achieve lasting inner peace and joy in good and bad times. The wages of continual un-repented sin is eternal damnation but the gift of God is eternal life through Jesus Christ. He is the only person by whom you can be saved!!!
You cannot enter heaven without publicly confessing that Jesus Christ is your Savior and Lord. All you have to do is confess Him now, if you haven’t already done so. Then, you will receive the gift of eternal life and the Holy Spirit will begin to lead you and guide you into truth. He will help you live in a manner that is pleasing to Father God and help you use money and resources in a way that bear much fruit on earth that cannot be corrupted or stolen.
One reward for such a life is that many friends will meet you in Heaven because you played your God-given part in helping them see their need for Christ. Another reward is that you don’t let money entrusted to you become corrupted and moth eaten on earth. Instead, your faith-led acts of worship and service store up meaningful treasures in Heaven that awaits you.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Acts 4:10-12, John 3:16-17, 2Peter 3:9-18, Revelation 12:10-12
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Saturday, October 31, 2009
MoneyWalk 36: The Deceitfulness of Riches
This program will help you undo financial bondage.
It is great to have material things that make your life more comfortable. Most everyone wants a nice house, a classy automobile, and sharp clothes. As a matter of fact, most people have dreamed of being multi-millionaires and searched out methods that could be used to obtain such wealth.
Money is not evil even though some people have sought and used it to fund immoral lifestyles and endeavors. Just as many people have used it to fund endeavors that truly help people and make this world a better place to live. Money is simply a magnifying glass because more of it causes you to live on a larger scale where more people can better see your character through the way you spend it, save it, and give it away.
In the hands of truly godly people, it magnifies the fact that they are continually seeking to evangelize and disciple many people to lead them to Christ. In the hands of ungodly people, it magnifies the fact that they encourage, support, and engage ungodly activities that negatively affect the lives of many others.
Most people in the United States are rich in comparison to most people that live in other parts of the world. That is why it is best for everyone to understand that deceitfulness of riches does not affect only those you believe have the big bucks. It is at play in your life when you do not pursue God directed endeavors and use money in ways that glorify Him and lead people to Jesus Christ.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Ecclesiastes 10:19, Luke 12:13-21, I Timothy 6:6-12, Revelation 3:17-18
Please forward these bondage breaking articles to other people who can use helpful insight!!!
It is great to have material things that make your life more comfortable. Most everyone wants a nice house, a classy automobile, and sharp clothes. As a matter of fact, most people have dreamed of being multi-millionaires and searched out methods that could be used to obtain such wealth.
Money is not evil even though some people have sought and used it to fund immoral lifestyles and endeavors. Just as many people have used it to fund endeavors that truly help people and make this world a better place to live. Money is simply a magnifying glass because more of it causes you to live on a larger scale where more people can better see your character through the way you spend it, save it, and give it away.
In the hands of truly godly people, it magnifies the fact that they are continually seeking to evangelize and disciple many people to lead them to Christ. In the hands of ungodly people, it magnifies the fact that they encourage, support, and engage ungodly activities that negatively affect the lives of many others.
Most people in the United States are rich in comparison to most people that live in other parts of the world. That is why it is best for everyone to understand that deceitfulness of riches does not affect only those you believe have the big bucks. It is at play in your life when you do not pursue God directed endeavors and use money in ways that glorify Him and lead people to Jesus Christ.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Ecclesiastes 10:19, Luke 12:13-21, I Timothy 6:6-12, Revelation 3:17-18
Please forward these bondage breaking articles to other people who can use helpful insight!!!
Sunday, October 25, 2009
MoneyWalk 35: Diversify Your Money, Part 6
This program will help you undo financial bondage.
In many instances, mutual funds are best for beginning investors for meeting the stock and bond allocations of your investment plan rather than trying to choose individual stocks and bonds. They offer automatic diversification within the fund due to the large number of investments that the fund purchases.
The historical track record of each fund compared against funds with similar investments will help you determine which funds to choose. Invest in funds that historically meet or exceed the industry earnings average. Mutual funds come as stock funds, bond funds, low risk investment funds, and hybrids containing a percentage of all three types of investment vehicles as well as other types of investment holdings such as real estate.
Choosing a no-load fund (one without a sales fee) is generally a better choice than choosing one with a sales fee up-front or at the time you cash out. Choose funds that charge accountholders less than 1% in total expenses annually. Finally, browse financial magazines and articles periodically to learn the current market jargon used by financial advisors to become familiar with the different types of investments, so you can make good investments in the right vehicles.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Proverbs 11:14, Ecclesiastes 11:2, Luke 19:13, Acts 6:2-3
Please forward these bondage breaking articles to other people who can use helpful insight!!!
In many instances, mutual funds are best for beginning investors for meeting the stock and bond allocations of your investment plan rather than trying to choose individual stocks and bonds. They offer automatic diversification within the fund due to the large number of investments that the fund purchases.
The historical track record of each fund compared against funds with similar investments will help you determine which funds to choose. Invest in funds that historically meet or exceed the industry earnings average. Mutual funds come as stock funds, bond funds, low risk investment funds, and hybrids containing a percentage of all three types of investment vehicles as well as other types of investment holdings such as real estate.
Choosing a no-load fund (one without a sales fee) is generally a better choice than choosing one with a sales fee up-front or at the time you cash out. Choose funds that charge accountholders less than 1% in total expenses annually. Finally, browse financial magazines and articles periodically to learn the current market jargon used by financial advisors to become familiar with the different types of investments, so you can make good investments in the right vehicles.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Proverbs 11:14, Ecclesiastes 11:2, Luke 19:13, Acts 6:2-3
Please forward these bondage breaking articles to other people who can use helpful insight!!!
MoneyWalk 34: Diversify Your Money, Part 5
This program will help you undo financial bondage.
Jesus is returning soon and I badly want Him to! Yet, the bible says that to the LORD a day is as 1,000 years and 1,000 years is as a day. No one knows exactly when Jesus will return, yet scripture tells us He'll judge our management of the money He gave us. Therefore, live as though He'll return at any moment to take account of your stewardship.
He is pleased when you invest to increase your income because this allows you to support the spread of the gospel to a greater degree. Investing in stock mutual funds is a great way to increase income because the stock market has earned far more than the bond market over every 20-year investment horizon. This information should help you get over the queasy feeling you get from day-to-day stock market swings and cause you to invest in these vehicles for the long-term returns they produce.
Then, use investment growth to help the church witness to and disciple people to influence them to accept Christ as Savior and live according to His standards. Following this spiritual and biblical money management roadmap and the purpose for which He made you will bring eternal blessing upon you and other people in your sphere of influence.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Proverbs 11:14, Ecclesiastes 11:2, Matthew 25:14-15, Luke 19:13, Acts 6:2-3
Please forward these bondage breaking articles to other people who can use helpful insight!!!
Jesus is returning soon and I badly want Him to! Yet, the bible says that to the LORD a day is as 1,000 years and 1,000 years is as a day. No one knows exactly when Jesus will return, yet scripture tells us He'll judge our management of the money He gave us. Therefore, live as though He'll return at any moment to take account of your stewardship.
He is pleased when you invest to increase your income because this allows you to support the spread of the gospel to a greater degree. Investing in stock mutual funds is a great way to increase income because the stock market has earned far more than the bond market over every 20-year investment horizon. This information should help you get over the queasy feeling you get from day-to-day stock market swings and cause you to invest in these vehicles for the long-term returns they produce.
Then, use investment growth to help the church witness to and disciple people to influence them to accept Christ as Savior and live according to His standards. Following this spiritual and biblical money management roadmap and the purpose for which He made you will bring eternal blessing upon you and other people in your sphere of influence.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Proverbs 11:14, Ecclesiastes 11:2, Matthew 25:14-15, Luke 19:13, Acts 6:2-3
Please forward these bondage breaking articles to other people who can use helpful insight!!!
MoneyWalk 33: Diversify Your Money, Part 4
This program will help you undo financial bondage.
Mutual funds provide broad diversification among stocks and/or bonds. Some have initial investment requirements of a few thousand dollars. However, some allow investors to bypass such requirements when they authorize monthly electronic fund transfers of as little as $50 from a bank account.
If you can’t or don't wish to use this option, you should quickly save the required amount to invest in a mutual fund with a good reputation, good historical returns, and low expense ratio. Checking these items is less difficult for mutual funds than for individual stocks, bonds, and other investments. Your state securities regulator can let you know if a fund is reputable and the fund’s prospectus will display one-year, five-year, ten-year, and lifetime average annual returns and the expense ratio.
Large, medium, and small cap index funds are great choices when you aren’t sure how to identify acceptable returns or select funds based on the credentials of the portfolio manager. Index funds will provide you with a long-term average annual return that is commensurate with overall stock market returns for these categories of businesses.
As you learn more about investing, in an attempt to obtain higher returns, you could choose to invest in funds whose portfolio of stocks and/or bonds is based on a non-index fund objective and manager’s stock selection preferences.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Proverbs 11:14, Ecclesiastes 11:2, Luke 19:13, Acts 6:2-3
Please forward these bondage breaking articles to other people who can use helpful insight!!!
Mutual funds provide broad diversification among stocks and/or bonds. Some have initial investment requirements of a few thousand dollars. However, some allow investors to bypass such requirements when they authorize monthly electronic fund transfers of as little as $50 from a bank account.
If you can’t or don't wish to use this option, you should quickly save the required amount to invest in a mutual fund with a good reputation, good historical returns, and low expense ratio. Checking these items is less difficult for mutual funds than for individual stocks, bonds, and other investments. Your state securities regulator can let you know if a fund is reputable and the fund’s prospectus will display one-year, five-year, ten-year, and lifetime average annual returns and the expense ratio.
Large, medium, and small cap index funds are great choices when you aren’t sure how to identify acceptable returns or select funds based on the credentials of the portfolio manager. Index funds will provide you with a long-term average annual return that is commensurate with overall stock market returns for these categories of businesses.
As you learn more about investing, in an attempt to obtain higher returns, you could choose to invest in funds whose portfolio of stocks and/or bonds is based on a non-index fund objective and manager’s stock selection preferences.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Proverbs 11:14, Ecclesiastes 11:2, Luke 19:13, Acts 6:2-3
Please forward these bondage breaking articles to other people who can use helpful insight!!!
MoneyWalk 32: Diversify Your Money, Part 3
This program will help you undo financial bondage.
The benefit to using federally regulated 401k, 403b, and 457 investment plans offered by your employer is that a portion of your earned income can be placed in these plans on a tax deferred basis. You pay no income taxes on this money until you withdraw money from the account. Federal regulations allow employers to let you to invest about $14,000 annually through each plan.
These accounts generally include an array of choices such as fixed interest vehicles and stock and bond investments that automatically diversify your investment holdings. Some employers provide a matching percentage. This is free money that you won’t get until you invest through these plans.
It’s costly to withdraw money from the plan permanently until you're age 59 and a half. This keeps you from squandering all your money in your peak earning years so you have a chance at building wealth you’ll need to maintain comfort in later years. If taken before then, except through a loan from the plan administrator that you pay back on schedule, you must pay income taxes on the money and a 10% penalty to the IRS. In addition, you’ll pay the loan in after tax dollars that will be taxed again when you withdraw it in later years. If money is taken due to a qualified hardship or on an equal annual payout basis over your projected life expectancy, no penalty is due.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Proverbs 11:14, Ecclesiastes 11:2, Joshua 24:13, Luke 19:13, Acts 6:2-3
Please forward these bondage breaking articles to other people who can use helpful insight!!!
The benefit to using federally regulated 401k, 403b, and 457 investment plans offered by your employer is that a portion of your earned income can be placed in these plans on a tax deferred basis. You pay no income taxes on this money until you withdraw money from the account. Federal regulations allow employers to let you to invest about $14,000 annually through each plan.
These accounts generally include an array of choices such as fixed interest vehicles and stock and bond investments that automatically diversify your investment holdings. Some employers provide a matching percentage. This is free money that you won’t get until you invest through these plans.
It’s costly to withdraw money from the plan permanently until you're age 59 and a half. This keeps you from squandering all your money in your peak earning years so you have a chance at building wealth you’ll need to maintain comfort in later years. If taken before then, except through a loan from the plan administrator that you pay back on schedule, you must pay income taxes on the money and a 10% penalty to the IRS. In addition, you’ll pay the loan in after tax dollars that will be taxed again when you withdraw it in later years. If money is taken due to a qualified hardship or on an equal annual payout basis over your projected life expectancy, no penalty is due.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Proverbs 11:14, Ecclesiastes 11:2, Joshua 24:13, Luke 19:13, Acts 6:2-3
Please forward these bondage breaking articles to other people who can use helpful insight!!!
Sunday, October 18, 2009
MoneyWalk 31: Diversify Your Money, Part 2
This program will help you undo financial bondage.
The bible contains a principle for spreading your risk. Proverbs 11:14 says there's safety in the multitude of counselors. Ecclesiastes 11:2 says give a portion to seven or eight because you don't know what the future may bring. Matthew 25:15 shows the Master giving different amounts of money for investment to three different servants according to their different abilities. Luke 19:13 shows Him giving the same amount to ten different servants. Also, Acts 6:2-3 shows the apostles ordaining seven stewards to oversee the money, resources, and organization that would daily support the widows, orphans, and needy within the Christian community.
I believe these scriptures are trying to let us know that the Holy Spirit encourages, motivates, and guides each person to diversity his/her talent, mind, time, and money in order to get the most out of them and to help protect against inevitable emergencies and catastrophes that will take place during his/her life. Jesus diversified by choosing twelve very different men with different traits and talents who would work together to share Jesus with the world. Except for one, who chose to follow the tempting of satan to become the inevitable catastrophe / emergency that tried to derail the investment God made in the salvation of human souls, the remainder went on to become apostles investing gospel seeds in every region of the world they knew about. The plan was not derailed and all we need do is look at the return that continues to be harvested. It started with Jesus investment in twelve different men and now almost half the people on earth name Jesus Christ as their Savior.
This principle flows into the stewardship arena of your life leading you to invest with different financial institutions, brokerage houses, financial counselors, etc. Seven represents completion and is a good number of different types of investment vehicles/accounts to aim for. You will likely start investing with one but hopefully in a vehicle that holds more than one type of investment (a mutual fund, etc.). However, you will shortly invest extra money with another brokerage house as you continue to correctly manage your income, plan your spending, eliminate debt, save, and realize additional disposable.
This minimum level of diversification will give you peace because it greatly enhances the ability of your money to increase with the markets over the long haul and greatly reduces the risk that you might lose a large portion of your investment to unscrupulous counselors or short-term market declines.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Proverbs 11:14, Ecclesiastes 11:2, Matthew 25:15, Luke 19:13, Acts 6:2-3
Please forward these bondage breaking articles to other people who can use helpful insight!!!
The bible contains a principle for spreading your risk. Proverbs 11:14 says there's safety in the multitude of counselors. Ecclesiastes 11:2 says give a portion to seven or eight because you don't know what the future may bring. Matthew 25:15 shows the Master giving different amounts of money for investment to three different servants according to their different abilities. Luke 19:13 shows Him giving the same amount to ten different servants. Also, Acts 6:2-3 shows the apostles ordaining seven stewards to oversee the money, resources, and organization that would daily support the widows, orphans, and needy within the Christian community.
I believe these scriptures are trying to let us know that the Holy Spirit encourages, motivates, and guides each person to diversity his/her talent, mind, time, and money in order to get the most out of them and to help protect against inevitable emergencies and catastrophes that will take place during his/her life. Jesus diversified by choosing twelve very different men with different traits and talents who would work together to share Jesus with the world. Except for one, who chose to follow the tempting of satan to become the inevitable catastrophe / emergency that tried to derail the investment God made in the salvation of human souls, the remainder went on to become apostles investing gospel seeds in every region of the world they knew about. The plan was not derailed and all we need do is look at the return that continues to be harvested. It started with Jesus investment in twelve different men and now almost half the people on earth name Jesus Christ as their Savior.
This principle flows into the stewardship arena of your life leading you to invest with different financial institutions, brokerage houses, financial counselors, etc. Seven represents completion and is a good number of different types of investment vehicles/accounts to aim for. You will likely start investing with one but hopefully in a vehicle that holds more than one type of investment (a mutual fund, etc.). However, you will shortly invest extra money with another brokerage house as you continue to correctly manage your income, plan your spending, eliminate debt, save, and realize additional disposable.
This minimum level of diversification will give you peace because it greatly enhances the ability of your money to increase with the markets over the long haul and greatly reduces the risk that you might lose a large portion of your investment to unscrupulous counselors or short-term market declines.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Proverbs 11:14, Ecclesiastes 11:2, Matthew 25:15, Luke 19:13, Acts 6:2-3
Please forward these bondage breaking articles to other people who can use helpful insight!!!
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