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- 31 – Biblical Viewpoints of Money and Wealth Parts 2 and 3Click below to listen to Episode 31 – Biblical Viewpoints of Money and Wealth Parts 2 and 3Biblical Viewpoints of Money and Wealth Parts 2 and 3
Bob and Mary Jo explore the “Roles and Responsibilities of Owners and Managers” and “The Biblical Worldview of Working and Retirement”
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In Parts 2 and 3 of the Biblical Viewpoints of Money and Wealth series, Bob and Mary Jo explore the “Roles and Responsibilities of Owners and Managers” and “The Biblical Worldview of Working and Retirement”. Here at Christian Financial Perspectives, we believe that all financial decisions are spiritual decisions because everything belongs to God, and we are managers of His money.
Seeing money as simply something that is being managed in the interim puts a whole new perspective on wealth. They challenge our listeners to think about the different things you own, control, or manage like:
- Bank accounts
- Cars
- Investments
- Clothing
As far as retirement goes, it is one of the best times to use one’s resources to help others and make a positive difference in our world. It can be the best time of a person’s life when one’s wealth is used to serve others. On the flip side, if retirement becomes all about the individual, it can often become meaningless and depressing over time.
HOSTED BY: Bob Barber, CWS® and Mary Jo Lyons, CFP®
Mentioned In This EpisodeChristian Financial AdvisorsWebsiteBob Barber, CWS®, CKA®Mary Jo Lyons, CFP®, CKA®Want to ask a question about your specific situation? Schedule a complimentary 15 minute phone call.
SCHEDULE AN APPOINTMENTDid you enjoy this episode? Sign up for email updates and never miss an episode.EPISODE TRANSCRIPT[INTRODUCTION]
Bob: Welcome to Christian Financial Perspectives, a weekly podcast where we talk about ways to integrate your faith with your finances. This is Bob Barber.
Mary Jo: And I’m Mary Jo Lyons.
Bob: Are you ready to learn how to apply biblical wisdom to everyday financial decisions?
Mary Jo: Join us as we look at integrating your faith with your finances. If it’s your first time listening, welcome to our podcast, and if you’re a returning listener, welcome back.
[EPISODE]
Mary Jo:
In this week’s show. We will continue along in our series called “Biblical Viewpoints of Money and Wealth”. This was originally designed as a Bible study and written by my co-host Bob Barber. The series is a deep dive in what God’s word has to say about money. So, we thought it’d be a perfect topic to cover here on Christian Financial Perspectives.Bob:
I’m really excited to be bringing our viewpoint number two and viewpoint number three of Biblical Viewpoints of Money and Wealth to our listeners. Mary Jo, I started developing this Bible study several years ago, but I just never brought it to fruition. I’m excited about it now. And those that have known me for a while know that we had a study several years ago called “Seven Pillars of Biblical Stewardship”. So what this is, this is an updated version that’s much easier than that original Bible study that was actually done in hundreds of churches. So today, we’re going to be going over view points two and three, but before we get to that, let’s run through seven of the viewpoints that we’ll be discussing in this series of Biblical Viewpoints of Money and Wealth. I want to mention right here in the beginning of the program, this is a Bible study. And if you would like a copy, we can tell you how to get that off of like Amazon or one of the print medias. And you can call our office during business hours. It’s 877-718-7884, and we can connect you up.Mary Jo:
Bob, there’s just so much great stuff in here. And there is a lot that connects money and wealth to biblical foundation and principles. So, we’re definitely looking forward to bringing those to our listeners. But as you said, why don’t we just kind of review through the seven viewpoints. First viewpoint, it does serve as that foundation. So if you missed this one, you may want to take some time to review it on our episode that went through the first viewpoint.Bob:
And the first viewpoint is what is the difference between the secular and biblical worldview? That’s the first viewpoint, the difference between the secular and biblical worldview, which is the foundation for this Bible study that we’re bringing to you in handling well from a biblical perspective.Mary Jo:
And the second viewpoint is the difference between an owner and a manager. So we’re going to discuss this one today, as well as number three.Bob:
Which is the third one is the biblical worldview of working and retirement. The Bible has a lot to say about work. If you go to Biblegateway.com and you put in the work, it will show you that it appears more than 500 times in scripture, but retirement only appears one time in scripture. So we’re really going to dig in to what the biblical worldview of working and retirement is.Mary Jo:
And then the fourth viewpoint is a secular and biblical counsel. And you’ve heard Bob and I talk on this show so many times about seeking wise counsel. So, we’re going to talk about that from a secular view, as well as a biblical view.Bob:
We’re going to look at money and wealth, and what’s the difference between a secular worldview of money and a biblical worldview of money and wealth, likewise.Mary Jo:
And then the sixth viewpoint is on giving and blessings.Bob:
And then the seventh is inheritance and a legacy and wisely leaving what God has blessed you with over the years to your children. And as we always say, Mary Jo, it’s better to pass on wisdom than to pass on money. Because if you pass on money without wisdom, you’re setting yourself up for failure for the children. So before we get into the seven viewpoints, I’ve established some overarching principles for this Bible study, which are number one, all financial decisions are spiritual decisions, especially for those that love the Lord and are Christians. We feel like those should be prayed about.Mary Jo:
Our self-worth should not be associated with our net worth.Bob:
We are managers. We’re not owners. God is the owner.Mary Jo:
And we are to manage it all to the glory of the owner.Bob:
We are a conduit of wealth that’s flowing through us, not to stay in us. I like using the example of the Dead Sea where water flows in, but it doesn’t flow out, and therefore nothing can grow in the Dead Sea. Well, wealth can be the same way. It can destroy us if we don’t allow it to flow through us and help others.Mary Jo:
And so much of this ties into this final point, and that is that wealth does not belong to us, but to God. So let’s dig into that viewpoint number two, an owner versus a manager,Bob:
Usually, we start off the program with a scripture. So here’s that scripture for today, which is Psalms 24:1. And it’s the basis for the entire study of Biblical Viewpoints of Money and Wealth, “The earth is the Lord’s and everything in it, the world and all who live in it.” I want to repeat that one more time. “The earth is the Lord’s and everything in it, the world and all who live in it.” That means everywhere.Mary Jo:
So Bob, according to this scripture, just to make sure everybody’s listening, who is the owner of everything on earth?Bob:
God owns it all according to Psalm 24:1.Mary Jo:
What does this mean for you personally, Bob?Bob:
I tell you one thing. It’s been a journey personally because, over the years, I used to hold on so tightly to everything because I thought it was all my stuff and that was a selfish viewpoint. Then I started getting a biblical viewpoint of possessions and realizing really it’s God who owns it, and it says that in his word. So to me personally, it allowed me to not hold so tight fisted. When you make a fist and your knuckles get white, because if you make that fist too tight and hold on too tightly, it cuts off the circulation. But then when I opened my hand up and said, God, this belongs to you. The freedom that came with taking this scripture of Psalm 24:1 and applying it, it gives you a tremendous amount of freedom that is indescribable, that comes with, okay, God, this is your stuff I’m going to do the best I can at managing it.Mary Jo:
I think when we’re all in our early earning years as young adults, kind of more immature adults in a way, I think we all hold on really tight because we’re first starting to earn that money. And we worked so hard for it. And it takes a little time, a few years and a little additional perspective, to understand that God really does own it all. So as we move into this and we explore the roles and responsibility of owners and managers, think about all the things you own and control or manage. So your bank accounts, cars, real estate, your investments, your businesses, mineral rights. A lot of our listeners have oil and gas and water rights on their property. You have animals, food, clothing, electronics, jewelry, art, and collectibles. And even people. People can also be entrusted to our care, a spouse, children, or employees, if you’re a business owner, and we are also to care for and manage the world and our environment that’s around us. That’s very important. And we need to be conscious of that as we move through our day.Bob:
Take a piece of paper and make a list of what you personally own or control. Make it specific to you and personal to you. Take some time to write this down. And when you see all that, look at that from that perspective. Do I own this or does God own it? And allow release, allow the Holy Spirit to speak to you and releasing that into God’s care and saying, I’m going to do the best I can at managing what God has given me, and see the freedom that comes with that.Mary Jo:
But why don’t we go ahead and take a look at the Bible for guidance about what God says about ownership. Mark 10:17-21, “As Jesus was starting out on his way to Jerusalem, a man came running up to him, knelt down and asked, ‘Good teacher, what must I do to inherit eternal life?’ ‘Why do you call me good?’ Jesus asked. ‘Only God is truly good, but to answer your questions, you know the commandments. You must not murder. You must not commit adultery. You must not steal. You must not testify falsely. You must not cheat anyone. Honor your father and your mother.’ ‘Teacher,’ the man replied. ‘I’ve obeyed all these commandments since I was young.’ Looking at the man, Jesus felt genuine love for him. ‘There is still one thing you haven’t done,’ he told him. ‘Go and sell all your possessions and give the money to the poor, and you will have treasure in heaven. Then come follow me.'”Bob:
Mary Jo, as I listened to you read this scripture, and this scripture always speaks to really the heart of the matter here was this man. He had done everything right. I mean, you can see here what he said. He said, I’ve obeyed all the commandments even since I was young. I’ve done everything correct. And then when Jesus looked at him and said, well, okay, then go sell all your possessions. Give to the poor and come follow me, for there’s treasure in heaven. He walked away, and I’ve got to ask myself that same question. Could I give all of my possessions to God if he asks me for this specifically? Because that’s a tough one.Mary Jo:
It’s a tough one. Yeah, it sure is.Bob:
Truly, if I believe, if we believe, that we’re the manager or steward and not the owner of it all, then maybe that’s not so hard because God owns it in the first place, doesn’t he?Mary Jo:
So true, Bob. And if we truly believe that God owns it all, then we are simply the manager of God’s stuff, wouldn’t you say?Bob:
I would, Mary Jo. I would definitely think that if we truly believe that. We’re the manager of all this stuff and what God has given us. So think about all the things that you do on a daily basis, all the businesses you interact with. Think about the restaurants maybe you go eat at. Maybe you went and played golf that day. Think about owners of sports teams. What are the typical duties of the manager of those businesses? There’s payroll and employee relations. There’s inventory control, facilities, management, sales, profit, and loss, marketing, and promotion. Now, what are the typical duties of the owner? So you have the manager of those businesses and then you have the owner. The owner is the actual business itself. They accept the ultimate responsibility if the manager fails. So when we recognize that God is the owner and we’re the manager, there’s actually a huge release of holding on so tightly to all those assets according to this next scripture that we’re going to look at. Let’s see what happens when a owner gives a manager responsibility. And this is a really long scripture. It’s a well known scripture, though, and comes out of Matthew.Mary Jo:
You’re right. It’s Matthew 25:14-30, “The Parable of the Talents”, and remember a talent back then was a currency and a pretty valuable currency back in the time. And it was much like a bag of gold, for example, and that was according to biblical scholars.Bob:
So as we hear about the talents, I want to say in here, Mary Jo, that we’ve done some research, and we’ve come up with anywhere from $20,000 to a $100,000 for what a talent could be worth today.Mary Jo:
I think that’s inflation at its best.Bob:
It is. It is. So, I’m going to share a lot of this scripture out of Matthew 25:14-30, and you can listen along. If you happen to have your Bible handy, then feel free to open up the word of God with us. Again, it’s in Matthew 25:14-30. “Again, the kingdom of heaven can be illustrated by the story of a man going on a long trip. He called together his servants and entrusted his money to them while he was gone. To one he gave 5 bags of silver.” Or, in many interpretations, it says a talent. “To one, two bags of silver. To another, one bag, dividing it into proportions according to their abilities.” That’s a big key in there what I just said. “He then left on his trip. The servant who received the five bags began to invest them and earned five more. The server with two bags also went to work and earned two more. But the servant who received the one bag of silver or gold or talent dug a hole in the ground and hid it. After a long time, the master returned from his trip and called them to give an account of how they had used the money.”Mary Jo:
In verse 20 and 21, “The servant to whom he had entrusted the five bags of silver came forward with 5 more and said, ‘Master, you gave me five bags of silver to invest, and I have earned five more.’ The master was full of praise, ‘Well done my good and faithful servant. You have been faithful in handling this small amount, so now I will give you many more responsibilities. Let’s celebrate together.'” The servants who invested their talents wisely were rewarded. But what happened to the servants who did not invest wisely, Bob?Bob:
Well, we’re going to look at that part now, and I can tell you what. The owner was not too happy about it.Mary Jo:
It sorta ticked him off, didn’t it?Bob:
It really did. It got him upset. “Then the servant with the one bag of silver came and said, ‘Master, I knew you were a harsh man, harvesting crops you didn’t plant and gathering crops you didn’t cultivate. I was afraid I would lose your money. So, I hid it in the earth. But look, here’s your money back.’ The Master replied, ‘You wicked and lazy servant. If you knew I harvested crops I didn’t plant and gathered crops I didn’t cultivate, why didn’t you at least deposit my money in the bank where I would have gotten some interest on it?’ Then he ordered, ‘Take the money from the servant with that one bag and give it to the one with 10 bags. For those who use well what they are given, even more will be given and they will have an abundance, but for those who do nothing, even what little they have will be taken away. Now, throw that useless servant into the outer darkness where there will be weeping and gnashing of teeth.'” It’s a very interesting scripture to say that we are to do something with what God is giving us.Mary Jo:
He blesses us, and he expects us to do good with the money and the resources that he blesses us with.Bob:
We’ve just come off of this scripture in Matthew 25. But I feel like we need to share this one other scripture over in Luke 16:10-12 because it really speaks into the scripture that we just read about the parable of the talents. Mary Jo, share Luke 16:10-12 with us.Mary Jo:
“Whoever can be trusted with very little can also be trusted with much. And whoever is dishonest with very little will also be dishonest with much. So if you have not been trustworthy in handling worldly wealth, who will trust you with true riches? And if you have not been trustworthy with someone else’s property, who will give you property of your own?”Bob:
These two scriptures really ask a question of us. According to these scriptures, if a manager does a good job for the owner, what could happen?Mary Jo:
Well, Bob, in a biblical worldview, we are to believe that God owns it all – the earth and all that’s in it. We are simply called to be managers or good stewards. And if we manage what we have well, we may be called to manage more.Mary Jo:
That’s exactly it.Bob:
And that’s the point of these two scriptures from Luke 16 and Matthew 25. I would invite you to go look that up. Again today, we’re bringing to you Biblical Viewpoints of Money and Wealth, a Bible study that I wrote several years ago that we’re finally bringing to market now that you can get a copy of, and we’re sharing with you biblical viewpoint number two. As Certified Kingdom Advisors, as well as wealth advisors, we work with clients to help them integrate their faith with their finances. So Mary Jo, let’s go into viewpoint number three.Mary Jo:
Working and retirement. We like to always start off with scripture. This one ties very directly to Genesis 2:15, “The Lord God took the man and put him in the garden of Eden to work it and take care of it.” To work it!Bob:
Exactly. To work it. And it’s interesting, like I was saying at the beginning of the today’s program was the word work. If you go into like Bible Gateway and you put in work, it appears over 550 times in scripture, while the word retire appears only once. That’s over in Numbers 8:23, but it’s in a different context than the way we think of retirement here in the United States. This is where the chief priest will retire at the age of 50 to help and teach the younger priest. So, it wasn’t quitting what you’re doing. It was just looked at in a different way.Mary Jo:
You think about where we are in today’s culture, and workers today are re-inventing themselves. They’re going back for a third phase. They don’t look at it as retirement. They are doing second and third careers. They’re volunteering. They’re doing mission work. They’re just doing all kinds of interesting things when they do retire from the workforce. I think some of that is changing, if only slightly.Bob:
So, it’s not about getting your RV and going across America and playing golf every day.Mary Jo:
But as I’m looking at RVs, it’s not such a bad thing, but there’s so much more to it. We definitely are called to do more. And many people, they put their self worth and identity into what they do for a living and where they work, what they’ve accomplished in their workplace. When many people meet for the first time, they ask, “So what do you do?” Which usually means where do you work?Bob:
Oh yeah. Especially men are guilty of this, but now with more women in the workplace, they’re guilty of that too, because they associate their work with their self worth so much. It’s interesting how we look at that today.Mary Jo:
It is. It’s definitely the primary driver that we derive our self worth from, at least that’s always been true for me. I think it may change for some women as they become mothers or maybe even a dad that are blessed with children to raise. As the family grows, they become more of their world and take up much more space and time and focus. So the job becomes less important, but we do spend much of our day at work and it remains a huge part of our focus, but it doesn’t have to define us. And I think that’s the key.Bob:
I do want to say something right here in the middle. When we had our children, my wife decided to not work in the workplace, but to work at home. And I think that was a lot harder, quite frankly, because man, it’s like 24/7 nonstop. I’m watching our daughter now with our grandchild, and I can see that’s a hard job. In the Bible, God’s word mandates that we work and provide for our families. And like I said, it’s over 500 times in scripture, even in The 10 Commandments, it says over in Exodus 20, “You have six days each week for your ordinary work, but the seventh day is a Sabbath day of rest dedicated to the Lord, your God. On that day, no one in your household may do any work.”Mary Jo:
What does it say when we choose not to provide for our own?Bob:
That’s a tough scripture there when we choose not to provide for our family. So go ahead.Mary Jo:
And that comes from the 1 Timothy 5:8, as a great example of this, “But those who won’t care for their relatives, especially those in their own households have denied the true faith. Such people are worse than unbelievers.”Bob:
When it comes to work, I think we need to ask ourselves, does it matter what position we have at work? According to the scriptures. And in 1 Corinthians 12:4-6 and 12:21-27, God responds in his word there are many different kinds of spiritual gifts, but the same spirit is the source of them all. There are many different kinds of service, but we serve the same Lord, and I think that’s a wonderful scripture, really getting deep into that, all the different gifts. And there’s not necessarily one better than the other because we all need each other.Mary Jo:
Well, that’s right, Bob. We want to ask if all positions are equally important in the eyes of God, and that’s addressed in 1 Corinthians chapter 12:21-27, “The eye can never say to the hand, I don’t need you. The head can’t say to the feet, I don’t need you.” In fact, some parts of the body that seem weakest and least important are actually the most necessary. In verse 26 and 27, it goes on this say, “If one part suffers, all the parts suffer with it. And if one part is honored, all the parts are glad. All you together are Christ’s body, and each of you is a part of it.”Bob:
You’ve really established how important work is. So regarding retirement, like I said earlier, the word retire appears only once in Numbers 8:23-26 is the reference for that. “The Lord instructed Moses, this is the rule the Levites must follow. They must begin serving the tabernacle at the age of 25, and retire at the age of 50. But after that, they assist their fellow Levites by serving as guards at the tabernacle. They may not officiate the service, but they must assigned duties to the Levites.” So, when you look at that scripture, they’re still working. They’re just working in a different capacity.Mary Jo:
That’s right, Bob. Retired person has many opportunities to help others, and it can be the best time of a person’s life when they choose to serve. And on the flip side, if retirement becomes all about one’s self, it can become meaningless and depressing over time. I think you’ll find those are the ones that don’t last very long.Bob:
Mary Jo, I know that Mike’s about to retire soon, your husband, and we were talking about that and he wants to give a lot of his time into the lives of unfortunate children. Tell me about that a little bit.Mary Jo:
Well, he definitely wants to be able to be a mentor to kids. He’s traveled a lot in his work, and he didn’t have the opportunity to do a lot of volunteer work while he was working in his professional life, and he missed out on some of that. So, he wants to be able to give back now, and that’s his primary motivator. He’s looking for opportunities within the school system to provide mentorship and do some career counseling. I just love looking at how excited he’s getting about that.Bob:
So as we come to the end of today’s program on the Biblical Viewpoints of Money and Wealth, and we’ve now shared with you point number one, two, and three, we want you to feel free to call the office and order this Bible study called “Biblical Viewpoints of Money and Wealth”. It can be a seven week Bible study or a seven day Bible study. You can do it on your own or in a group. And it’s a lot of fun. It’s going to give you a really different perspective of looking at things, and hopefully it will create a different worldview where you will look at everything that God owns it all, and look at it through the eyes of a biblical worldview. You can call the office at (877) 718-7884 during business hours, or go to Christianfinancialpodcast.com.[DISCLOSURES]
Comments from today’s show are for informational purposes only and not to be considered investment advice or recommendations to buy or sell any company that may have been mentioned or discussed. The opinions expressed are solely those of the hosts, Bob Barber and Mary Jo Lyons. Bob and Mary Jo do not provide tax advice and encourage you to seek guidance from a tax professional. Investment advisory services offered through Christian Investment Advisors Inc. DBA Christian Financial Advisors, a registered investment advisor.
25 min - 18 min
- 30 – He is RisenClick below to listen to Episode 30 – He Is RisenHe Is Risen
Learn about finance through Jesus’ resurrection.
More episodes >>
Here at Christian Financial Perspectives, Easter is an important holiday to us because it represents the resurrection of our Jesus Christ. Bob and Mary Jo wanted to offer some insight into the Easter story and how it relates to money.
Did you know that one of the best storytellers was Jesus? He taught with messages of hope and love through his parables. His parables are great tools, even in today’s world, for learning valuable lessons. In today’s episode, Bob and Mary Jo present different financial teachings of Jesus taught through his resurrection.
HOSTED BY: Bob Barber, CWS® and Mary Jo Lyons, CFP®
Mentioned In This EpisodeChristian Financial AdvisorsWebsiteBob Barber, CWS®, CKA®Mary Jo Lyons, CFP®, CKA®Ep 28 – DiversificationWant to ask a question about your specific situation? Schedule a complimentary 15 minute phone call.
SCHEDULE AN APPOINTMENTDid you enjoy this episode? Sign up for email updates and never miss an episode.EPISODE TRANSCRIPT[INTRODUCTION]
Bob: Welcome to Christian Financial Perspectives, a weekly podcast where we talk about ways to integrate your faith with your finances. This is Bob Barber.
Mary Jo: And I’m Mary Jo Lyons.
Bob: Are you ready to learn how to apply biblical wisdom to everyday financial decisions?
Mary Jo: Join us as we look at integrating your faith with your finances. If it’s your first time listening, welcome to our podcast, and if you’re a returning listener, welcome back.
[EPISODE]
Mary Jo:
Bob:
Matthew 28:6. “He is not here. He is risen just as he said. Come and see the place where he lay.” As we move through this Lenten season and prepare for the resurrection of Christ Jesus, we wanted to offer some insight into the Easter story and how it relates to money today on Christian Financial Perspectives. We’re calling this episode, “He Is Risen.”Mary Jo:
Here on Christian Financial Perspectives. We look at what God’s word says about money. Even the Easter story shares some perspective on money that we can learn from. We all love a great story, don’t we, Bob?Bob:
Mary Jo, we do. In fact, one of the best storytellers of all time was Christ himself. He touched people with a message of hope and love. He spoke so many times through parables that he shared in his teachings. Many people today don’t think that these stories are relevant to today’s complex world, but I guarantee they are. That’s just simply not true. They’re very relevant to today. The parables are great tools to illustrate common, even economic, concepts and real world life issues that are as true today as they were back in Jesus’ time. Jesus used simple stories from these parables to tell truths in a way that people could understand and relate to.Mary Jo:
Why Jesus used stories. This is explained for us in Matthew 13:10-17, “Later when Jesus was alone with the 12 disciples and with the others who were gathered around, they asked him what the parables meant. He replied, ‘You are permitted to understand the secret of the kingdom of God, but I use parables for everything I say to outsiders so that the scriptures might be fulfilled. When they see what I do, they will learn nothing.Bob:
When they hear what I say, they will not understand. Otherwise, they will turn to me and be forgiven. Then Jesus said to them, if you can’t understand the meaning of this parable, how will you understand all the other parables?'” That’s very interesting that he asks that.Mary Jo:
Yes. Bob, I was preparing for the show. I came across this story of a man who was watching some kids play a baseball game. The thing about spring is it’s Easter season and time for much celebration, but it’s also the beginning of baseball season. So, what would a story be without a baseball analogy? And as a big Astros fan, I couldn’t help but laugh at this particular one. He yelled out at the kids in the right field. “Who’s winning?” “They are.” “What’s the score?” he asked. “17 to nothing.” The man said to the kid, “It doesn’t look too good for you, does it?” The kids smiled and said, “Well, no, sir, but we haven’t been up to bat yet.”Bob:
I love it. That’s optimism. That is optimism when you hadn’t even been up to bat yet, but the other team has already scored 17 on ya. But that is a great story about hope. That kid was out there in the outfield. And he’s like, well, we’re going to get up and bat, we’re going to score 17 or 18. We’re gonna score 18. But that kid was kind of speaking in parables of sort. Wouldn’t you say?Mary Jo:
I certainly would. I think this is a great example.Bob:
So as we approach this Easter season, it’s important to remember that this gives us reason for hope. Christ is risen and Christ will come again. Amen. Just like the baseball story. There’s so much hope in this. I say what a day that will be for all of us, that know Christ as our personal Lord and savior, when we see Jesus in heaven and when he returns to reign here on earth as our King. But in the meantime, there is some days of darkness and we may be discouraged and get discouraged. Maybe we wonder where the world is headed sometimes with the things we see around us in the news and internet and media. But I know this, as Christians that is only temporary. So have no fear. The kingdom wins as John 16:33 says, “I’ve told you these things so that in me, you may have peace. In this world, you will have trouble, but take heart. Christ has overcome the world.” I have overcome the world is what Christ said.Mary Jo:
This is what we try to do here on Christian Financial Perspectives. We take today’s financial issues and tie them back to biblical messages that relate to money and wealth. If you’ve been listening to the show, you’ve heard us say many times the Bible has much to say about money and managing wealth.Bob:
So, Mary Jo, let’s get into a little bit of that. Here we are in the Easter season, we know that Judas is a big part of that. We’re going to look at the story of Judas, as an example, and what the Bible tells us about money and wealth.Mary Jo:
In Matthew 27, we look at the story of Judas, “Very early in the morning, the leading priest and the elders of the people met again to lay plans for putting Jesus to death. Then they bound him, led him away, and took him to pilot, the Roman governor.”Bob:
“When Judas, who had betrayed him, realized that Jesus had not been condemned to die. He was filled with remorse. So he took the 30 pieces of silver back to the leading priests and the elders. ‘I have sinned,’ he declared, ‘For I have betrayed an innocent man.’ ‘What do you care?’ They said back. ‘That’s your problem.'”Mary Jo:
“Then Judas threw the silver coins down in the temple and went out and hanged himself.”Bob:
“The leading priests picked up the coins. ‘It wouldn’t be right to put this money in the temple treasury,’ they said, ‘Since it was payment for murder.’ After some discussion, they finally decided to buy the potter’s field and they made it a cemetery for foreigners.”Mary Jo:
“That’s why the field is still called the field of blood. This fulfilled the prophecy of Jeremiah that says they took the 30 pieces of silver, the price at which he was valued by the people of Israel,` and purchased the potter’s field as the Lord directed.”Bob:
So as we look at this passage, there are many theories about why Judas betrayed Jesus as master. Most people think he was motivated by greed. Some say he was possessed by the devil. I say that one. And some say he was just chosen to fulfill prophecy, but much has been written about this story as it leads to Christ’s resurrection. But the wisdom behind this is that Judas did have a love of money. So, Mary Jo, this is really interesting as we look at this next scripture from Acts 1 about the money that Judas threw back at the Pharisees and the chief priest, that 30 pieces of silver that they’re like, wait. This is not our money. This is blood money. So they took that money that Judas gave them and went and bought that field. Let’s look at this next scripture about what happened with the money that the chief priests took back from Judas to buy that field.Mary Jo:
In Acts 1:18-19, “With the reward he got for his wickedness, Judas bought a field. There he fell headlong, his body burst open and all his intestines spilled out. Everyone in Jerusalem heard about this. So they called the field in their language field of blood.” The additional detail we learn is that after Judas hung himself, his dead body fell into the field purchased with his ill gotten gains.Bob:
So what do you think this tells us about ill gotten gains?Mary Jo:
Well, in Proverbs 1:19, “Such is the fate of all who are greedy for money, it robs them of life.” So I think Judas lost his life.Bob:
Yeah, that’s definitely what happened. Greed got ahold of him, and there’s even more about greed in relationship to the crucifixion where the report of the guards and Matthew 28:11-15. So, if you would read that passage for us.Mary Jo:
“As the women were on their way, some of the guards went into the city and told the leading priests what had happened. A meeting with the elders was called and they decided to give the soldiers a large bribe. They told the soldiers you must say, ‘Jesus’s disciples came during the night while we were sleeping and they stole his body.’ If the governor hears about this, he’ll stand up for you so you won’t get in trouble. So the guards accepted the bribe and said what they were told to say. Their stories spread widely among the Jews, and they still tell it today.”Bob:
It seems like under other circumstances, the soldiers would have been afraid to say that all four had been sleeping on duty.Mary Jo:
That wouldn’t have gone over too well.Bob:
But they were greedy. Mary Jo, I think it’s interesting that in the scripture of Matthew 28:11-15, that you just read, bribe appears a couple of times in there. The soldiers took a large bribe, they accepted the bribe, the guards did. So, this was really a story about bribery.Mary Jo:
It seemed to be a common practice those days.Bob:
Yeah. It was like, hey, we’ll bribe you to say this, even though that’s not what really happened. So this is a very, very good part. We’ve got to take this scripture and really absorb it – again, that’s Matthew 28:11-15 – to see what was going on here and how there was all this bribery going on to make everything the way they wanted to say it. Does that make sense?Mary Jo:
Sure. And I think that the soldiers knew they were in trouble, and it really didn’t matter because they’re going to be in trouble either way.Bob:
Exactly. I mean, what if you were sitting there and you saw a rock roll back. Here comes Christ out, resurrected, and all these angels. I mean, man, that’s some scary stuff, and they knew their flesh was on the line. I mean, they could get killed for this.Mary Jo:
Greed is the undoing of many a good soldier in the Bible. The Bible speaks to this on numerous occasions. A great example of that is in 1 Timothy 6:9, “Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction.”Bob:
I think this is a good example. We’ve shared this many times on Christian Financial Perspectives that we’ve gotta be careful about how that money can cause us to fall into temptation because God’s word gives us wisdom about what to do, when to do it, and how to gain spiritual victories in the midst of chaos. And this definitely includes your financial life. Joshua 1:7 is another good one in the Old Testament, “Only be strong and very courageous, be careful to do according to all the law which Moses my servant commanded you. Do not turn to the right or to the left so that you may have success wherever you go.” In other words, stay on that straight path.Mary Jo:
We are called upon not to be passive, but to be proactive for the cause of Christ. And when we do that, it requires commitment and discipline. I was reading a recent devotional from pastor Jack Graham recently. And he talks about how the Christian life is a marathon, not a 100 yard dash. The Christian life is not to be lived in spurts and jumps and stops and starts, but it is to be lived like a great race or running to the finish line.Bob:
Mary Jo, it’s like running a marathon. The Christian life requires discipline not based on emotions, but faith, because we’re in a constant, cosmic battle between good and evil and wanting to do it our own way versus God’s way.Mary Jo:
You’re right, Bob. We’re in a war. We’re in a race, and the bullets are real. The casualties are high. Endurance is required to finish the course and to run the race. The Bible says to run that we might win, and this includes your financial life and preparing for your financial future. So it’s a marathon, it’s not a sprint. And it does require discipline for your financial life to get to the goals that you want. This is where working with a trusted financial advocate comes in, and it’s been shown that ongoing financial planning can pay off in many ways. So, there has been an industry study that estimate that financial advice can actually add between 1.5% – 4% to account growth over extended periods. I think that in itself tells us a lot about how much working with a trusted financial advisor can really help you.Mary Jo:
This caught my attention because I think that it’s very impressive. This study comes from several very key financial institutions, and they all did their version of this study. And those sources include: “Investnet Capital Sigma – The Return on Advice.” This estimates advisor value adds an average of 3% per year and was completed in 2016. Russell Investments did a value of an advisor study in 2017 titled “Why Advisors Have Never Been So Valuable”. Their estimates value add it more than 4% per year. Vanguard – “Putting a Value on Your Value, Quantifying Vanguard’s Advisors Alpha” done in 2016. Their study estimates lifetime value can add an average of 3%. Morningstar Investment Management’s study was entitled “The Value of a Gamma Efficient Portfolio” and was completed in 2017. So, these are some pretty key names in our industry. I think that was something our listeners would really want to pay attention to you. Don’t you Bob?Bob:
Yeah, I liked the part, and I want to repeat that, that financial advice might add between 1.5% and 4% to account growth over extended periods. I think you know why. It’s because plans fail from lack of counsel, but with many advisors they succeed, and we help in those emotional decisions, just like we were talking earlier about that. Our Christian walk should be based on faith, not emotions.Mary Jo:
As should your financial life. We have talked about how the Christian life is a battle between good and evil. Our financial life is a battle, too. It’s a battle between our wants, our desires, our needs, and our future financial requirements. So, we have to balance that. And I think that’s the message we have today for our listeners. We encourage our listeners to seek wise counsel. And if we can help, we’re happy to do so. So Bob, as we wrap up this special Easter edition of Christian Financial Perspectives, what other advice would you offer our listeners?Bob:
Well, Mary Jo, I was thinking in the spirit of Easter, and I remember in our family, we used to do what we called “resurrection eggs”, and we would go put these eggs out, and you would open up and they would have scriptures in them because sometimes the Easter bunny tries to take the true meaning of Easter away. So anyway, I was thinking about that and eggs are around the Easter season. I was thinking of that saying, don’t put all eggs in one basket. That really comes from Ecclesiastes 11:2 where it says, “Give your portions to seven or eight because you do not know what disaster may come upon the land.”Mary Jo:
I love it, Bob. I think that’s a great analogy. In fact, we did a complete show on this one. It was episode 28 on “Diversification”. So, listeners can listen to that one by going to christianfinancialpodcast.com and listening to some of our archives.Bob:
So Mary Jo, I took this scripture and Easter eggs. What about you? Do you have any advice you would give our listeners when it comes to those Easter eggs?Mary Jo:
Well Bob, this is real for me and it was something that kind of traumatized me as a child. So, I sure do. And it’s don’t eat your chocolate bunny head first. That’s just not right. You have to start with the legs. Cause eating it head first just sends the wrong message, but we also want to take this time to thank our listeners for sticking with us and listening week after week. We appreciate you.Bob:
And we wish you a joyous Easter from all of us at Christian Financial Advisors.[DISCLOSURES]
Working with a trusted advisor does not guarantee an investment will be successful. All investments carry a certain risk, and there is no assurance that an investment will provide positive performance over time. An investor may experience loss of principle. Comments from today’s show are for informational purposes only and not to be considered investment advice or recommendations to buy or sell any company that may have been mentioned or discussed. The opinions expressed are solely those of the hosts, Bob Barber and Mary Jo Lyons. Bob and Mary Jo do not provide tax advice and encourage you to seek guidance from a tax professional. Investment advisory services offered through Christian Investment Advisors Inc. DBA Christian Financial Advisors, a registered investment advisor.
18 min - 29 – Biblical Viewpoints of Money and Wealth Part 1Click below to listen to Episode 29 – Biblical Viewpoints of Money and Wealth Part 1Biblical Viewpoints of Money and Wealth Part 1
Learn about handling God’s money through seven Biblical viewpoints.
More episodes >>
In this episode, Bob and Mary Jo begin a series called “Biblical Viewpoints of Money and Wealth”. This topic was originally designed as a Bible Study and written by Bob Barber. The series is a deep dive into what God’s word has to say about money, so it is a perfect topic to cover here on Christian Financial Perspectives.
This series includes 7 viewpoints that Bob came up with:
- The Difference Between a Biblical and Secular Worldview (the foundation for the rest of the entire Bible study and handling wealth from a Biblical perspective)
- The Difference Between an Owner and a Manager
- The Biblical Worldview of Working and Retirement
- Secular and Biblical Counsel
- Money and Wealth
- Giving and Blessings
- Inheritance and Legacy
HOSTED BY: Bob Barber, CWS® and Mary Jo Lyons, CFP®
Mentioned In This EpisodeChristian Financial AdvisorsWebsiteBob Barber, CWS®, CKA®Mary Jo Lyons, CFP®, CKA®Want to ask a question about your specific situation? Schedule a complimentary 15 minute phone call.
SCHEDULE AN APPOINTMENTDid you enjoy this episode? Sign up for email updates and never miss an episode.EPISODE TRANSCRIPT[INTRODUCTION]
Bob: Welcome to Christian Financial Perspectives, a weekly podcast where we talk about ways to integrate your faith with your finances. This is Bob Barber.
Mary Jo: And I’m Mary Jo Lyons.
Bob: Are you ready to learn how to apply biblical wisdom to everyday financial decisions?
Mary Jo: Join us as we look at integrating your faith with your finances. If it’s your first time listening, welcome to our podcast, and if you’re a returning listener, welcome back.
[EPISODE]
Mary Jo:
In this week’s show, we will begin a series called “Biblical Viewpoints of Money and Wealth”. This was originally designed as a Bible study and written by Bob Barber, my cohost. The series is a deep dive into what God’s word has to say about money. We thought this would be a perfect topic to cover here on Christian Financial Perspectives. We hope you agree. This series includes seven viewpoints. Bob, let’s go over the seven viewpoints that you came up with.Bob:
Mary Jo, I’m so excited to be bringing “Biblical Viewpoints of Money and Wealth” to our program. Some of our listening audience may remember a study called “Seven Pillars of Biblical Stewardship”, and may have even gone through that with their churches as that was taught. That was a seven week Bible study. Literally, Mary Jo, hundreds of churches across South Texas used it, and this is an updated version. Each one of these viewpoints sits on its own, but they all tie together. Here is the first viewpoint, and we’re going to spend a lot of time on this one today, but then we’re going to go through the other viewpoints, so you’ll have a good understanding of what this Bible study is all about. And by the way, if you would like a copy of this Bible study, always feel free to give us a call. That number is (877) 718-7884. Again, that number is (877) 718-7884, and we’ll tell you how to get a copy of this Bible study. The first biblical viewpoint is, “What is the difference between a biblical and secular worldview?” This is the foundation for the entire Bible study and handling wealth from a biblical perspective.Mary Jo:
The second viewpoint is “The difference between an owner and a manager”. Let’s take a look and see how this applies to our discussion. Basically, God owns it all, and he is the business owner. And as the manager, you are in charge of taking care of all of the aspects of God’s business and being a good steward of that business and managing it accordingly. You answer to God’s instruction.Bob:
Mary Jo, that was put perfectly. I liked the way you said that.Mary Jo:
Thanks, Bob.Bob:
The third viewpoint is the biblical worldview of working and retirement. Now, this is something that we’re going to tackle later on because today we’re going to spend a lot of time on what is the difference between a biblical and secular worldview. But when we get to talking about working from a biblical worldview and even retirement, you’re going to hear something different that you’ve never heard. This is going to be a lot of fun.Mary Jo:
It makes me kind of think back to what God’s word says about working in retirement, and working is mentioned in the Bible many times over.Bob:
Exactly. It’s mentioned hundreds of times.Mary Jo:
Hundreds of times! But retirement is only in there once, maybe twice. God didn’t really intend for us to never stop working.Bob:
That’s right. Yeah.Mary Jo:
I was hoping to look to a life of leisure in my days to come, but I guess that’s not happening.Bob:
It’s a life that’s going to glorify God.Mary Jo:
There you go.Bob:
Retirement, the way that America looks at it, is different than the way God looks at it.Mary Jo:
This is true. We need to give that some thought. The next viewpoint is a “Secular and biblical counsel”. Seeking wise counsel, but understanding what the difference is between counsel in the secular world and biblical counsel. And you can get that biblical counsel through Bob and I at Christian Financial Advisors as Certified Kingdom Advisors.Bob:
Mary Jo, do you remember when we did the program on this actual subject, I guess, many, many weeks ago. And we use 1 Timothy 3 as the guideline, and that’s going to be a lot of what this fourth viewpoint is. I’ll tell you, when you’re doing the Bible study and you’re opening it up and you start writing these words down, it’s like you hear it, you see it, then you write it down.Mary Jo:
Oh yes, that’s the best way to learn anything.Bob:
Exactly. The fifth viewpoint of the seven viewpoints is “Money and Wealth from a Biblical Perspective”. How do we look at that? When you think about it, many of us are holding on to that money and wealth as tight as we can. Think about when you take your hand and you make a fist and you make that fist as tight as you can. Well, that can create stress. A biblical worldview is actually releasing that hand, releasing that wealth into God’s control, and allowing God to own that. And again, we’re managers of it. It provides a lot of freedom.Mary Jo:
Which brings us to the sixth viewpoint and that’s “Giving and Blessings”. We know that it is more blessed to give than it is to receive.Bob:
Now, that is definitely a biblical viewpoint, isn’t it?New Speaker:
Yes, it is.Bob:
Because the seventh secular viewpoint is “It’s more blessed to get than give”, but from God’s perspective, “It’s More Blessed to Give”. And I’ll tell you, I’ve seen people become givers. And the blessings that come from that are amazing because that releases the bondage that materialism has on us when we’re giving.Mary Jo:
I’ve seen that happen over and over and in my own life. I always have the saying who give, get. That simple.Bob:
But don’t just give to get.Mary Jo:
Well, no, that’s true. Gotta be the right heart.Bob:
Well, we’re not refering to prosperity theology, but we’re talking about getting the blessings of just feeling good and helping others. Remember, Mary Jo, when I said, why is the dead sea dead? You remember that?Mary Jo:
Yeah, that’s right. Cause nothing flows out of it. It flows in, but not out.Bob:
Everything flows in, but nothing flows out. And then the last biblical viewpoint that we’ll share many weeks from now is inheritance and leaving a legacy. And again, it’s so different because today you go to the estate planning attorneys office and you set up the inheritance just so it’s quickly gotten to the hands of the next generation. And many times, have never considered what would God have me do with this? Before we get into the seven viewpoints, I’ve established some overarching principles for this Bible study. Here they are. Number one, all financial decisions for a Christian are spiritual decisions. Every time we’re thinking about a financial decision, when you think about why would God want me to do, and they need to be prayed about. Mary Jo, you and I are financial advisors. Someone needs to pray about what financial advisor they’re going to use. And is that financial advisor coming to them from a biblical viewpoint if they’re a Christian?Mary Jo:
Absolutely, Bob, and we share that with clients all the time that they need to pray on every financial decision or at least those big ones and make sure that prayer is part of this process. The next one is our self worth should not be associated with our net worth. We are so much more than what our money indicates, and we just never want to lose sight of that.Bob:
God loved you so much that he sent his son down to die on the cross for us. And to show us how to live a life of caring for others and loving each other. In America, you look at how big is your house? What kind of car do you drive? Many people do. And that is not what we’re worth. We’re worth so much more than that. It doesn’t have anything to do with financial. Our self worth is not associated with our net worth. The third one. We are managers, not owners. Again, just think of it that way. God is the owner and we’re managing it to be good stewards.Mary Jo:
That’s right? We are called to be good stewards of all the resources that he has blessed us with. And we are to manage it to glorify the owner. And as we said before, God owns it all. Everything we do should be to the glory of God.Bob:
We are a conduit of wealth. It’s like that dead sea again. Wealth is for flowing through us. It’s not to stay in us. We get it from God and it goes through us, and it goes right back out and helps others. It helps our families. It helps others that are in need. It helps the hungry, the sick, the poor, and you name it.Mary Jo:
On the show today, our listeners can’t see you, but you should see Bob and his hand gestures. And it’s flowing through him.Bob:
You’ve heard me say that. I mean, people have said, Bob, you should have been a preacher. And now you’re seeing preacher Bob come out, right, Mary Jo?Mary Jo:
It’s funny. I can see you, but that the listeners can’t.Bob:
Well, we’re going to start a vlog and they’ll be able to see my face every week then. We’re getting that going pretty soon.Mary Jo:
Viewpoint one, “The Difference Between a Biblical and Secular Worldview”. We want to start with establishing what a biblical worldview is versus a secular worldview before we actually get to how we should handle money and wealth. And there’s a good reason for this. Bob, why don’t you share why it’s so important to set that foundation.Bob:
Without a strong understanding of the difference between a biblical worldview and secular worldview for handling everything, especially wealth, the foundation can crumble. A scriptural principle for this is found in Matthew 7:25-27, “The rain came down, the streams rose, and the winds blew and beat against that house. Yet it did not fall because it had its foundation on the rock, which is God’s word in Jesus Christ.”Mary Jo:
“But everyone who hears these words of mine and does not put them into practice is like a foolish man who built his house on sand. The rain came down, the streams rose, and the winds blew and beat against that house. And it fell with a great crash.”Bob:
In my many years of teaching and understanding a biblical worldview, when it comes to wealth – biblical wealth – it comes from God. We must understand and acknowledge that God is the one that gives it to us – the ability to work and create wealth. It belongs to God. Biblical wealth belongs to God. Everything, and I mean everything we have, belongs to God. Biblical wealth honors God. We must ask God for his guidance and submit our wealth under his authority. Biblical wealth should always be used wisely in how we spend it, save it, and invest it. Biblical wealth should always be distributed wisely through our giving and how we give it to the next generation. Biblical wealth is providing for those God has entrusted to us. It’s for supporting the church. It’s for spreading the gospel. It’s for sending out and supporting missionaries. It’s providing for God’s family. Biblical wealth is for feeding the hungry, clothing the poor, sheltering the homeless, healing the sick, educating the homeless, protecting the innocent, and providing for widows and orphans.Mary Jo:
Whereas secular wealth is just the opposite. It’s all mine. Profit, regardless of morality. I don’t care what I invest in as long as it’s profitable, spend freely without regard to the future, keep up with the Joneses, buy the biggest house I can. There’s a lot of that going on around here. Buy as many toys as I can. Finance if I need to. Give generously, but do it in a very public way so everyone will know how generous I am. This just doesn’t sound too pretty, does it, Bob?Bob:
I don’t think it does. As you can see, secular wealth is really just all about us and selfishness.Mary Jo:
It is. A secular worldview puts me on a throne instead of God. It’s about what I want versus what God has commanded. Wouldn’t you say that’s right, Bob?Bob:
I would say that is exactly right. Let’s look at three passages from God’s word and discuss the differences found in each one of these passages between a secular worldview and biblical worldview. If you happen to be listening and you’re not driving and you have a Bible close by. If you want to grab your Bible, and turn with us to Galatians 5:16-23 and Mary Jo’s going to read that for us.Mary Jo:
“So I say, walk by the spirit and you will not gratify the desires of the flesh, for the flesh desires what is contrary to the spirit and the spirit what is contrary to the flesh. They are in conflict with each other so that you are not to do whatever you want, but if you are led by the spirit, you are not under the law. The acts of the flesh are obvious – sexual immorality, impurity, and debauchery, idolatry and witchcraft, hatred, discord, jealousy, fits of rage, selfish ambition, dissensions, factions and envy, drunkenness, orgies, and the like. I warn you, as I did before, that those who live like this will not inherit the Kingdom of God, but the fruit of the spirit is love, joy, peace, forbearance, kindness, goodness, faithfulness, gentleness, and self control. Against such things, there is no law.”Bob:
Mary Jo in looking at this passage, did you notice there’s four words that have repeated several times, especially in verses 16 and 17?Mary Jo:
Yes. I heard over again, spirit, flesh, contrary, and conflict. And these were found in the first two verses. In reviewing our notes for the show this morning, I realized how much we are talking about the spirit of the flesh. And in my mind, that’s just another way of saying temptation. Temptation can come in many forms, wouldn’t you say?Bob:
I would, Mary Jo, and as you were reading off this passage, it comes in all these different forms of sexual immorality, impurity, debauchery, idolatry, wanting what others have, hatred, jealousy, fits of rage, and selfish ambition. It just lays it out. And I’m telling you, as you were reading that, I’m thinking I don’t want to have anything to do with all that. I want verse 22 and 23 of love, joy, peace, kindness, goodness, faithfulness. That’s what I want. We’ve got to realize that there is a cosmic battle going on here.Mary Jo:
I think it’s out there. It’s real.Bob:
It’s not God is tempting us, but there’s an evil one out there and it’s Satan and the devil that’s tempting us to try to do things.Mary Jo:
And when we were talking earlier, you shared a good joke. And I think you ought to share that with our listeners.Bob:
Yeah. So I said, well kind of like Flip Wilson used to say, “The devil made me do it.”Mary Jo:
I think we’re giving away our age once again.Bob:
But ever day, we have a decision to make because there’s a spirit and the flesh, and there’s this constant battle going on against each other. And we have choices between choosing which one we’re going to follow. Is it going to be the flesh and doing it our own way? Are we going to submit under the guidance of the Holy Spirit and do it God’s way? Basically, we have a choice between choosing God’s viewpoint or a secular viewpoint.Mary Jo:
I would just say to choose well. There’s another old saying, “you choose your choices”. Now, let’s look at Galatians 5 again, and look at what also speaks as a secular worldview. “The acts of the flesh are obvious – sexual immorality, impurity and debauchery, idolatry and witchcraft, hatred, discord, jealousy, fits of rage, selfish ambition, dissensions, factions and envy, drunkenness, orgies, and the like. I warn you as I did before that those who live like this will not inherit the Kingdom of God.”Bob:
Mary Jo, there are 16 words in that passage that describe a secular worldview, and they don’t sound positive at all. Let’s look at the biblical world view from Galatians 5:22-23 again, and then I’m going to tell you how many words we’re looking at there.Mary Jo:
“But the Fruit of the Spirit is love joy, peace, patience, kindness, goodness, faithfulness, gentleness, and self control. Against such things there is no law.”Bob:
There’s nine words in that passage that describe a biblical worldview. And I tell you, they sound a lot more like the kind of people I’d like to hang around and be associated with.Mary Jo:
Absolutely. We must be aligned with the spirit of God’s words. Our actions and our thinking must both be aligned this way. To stay in the spirit of God’s word, we must put aside the desires of the flesh. In other words, temptation, and just put that aside.Bob:
Every day, we experienced choices between the flesh and doing it our way and the spirit and doing it God’s way. For the Christian, our worldview determines how we handle money and wealth, and a biblical world view should be the foundation for how we as Christians make all our financial decisions because a biblical worldview can be applied to everything we do, including how we handle money and wealth. Prayer and scripture should be applied to every major financial decision a Christian makes. Let’s look at a final passage for viewpoint number one from the Bible study, “Biblical Viewpoints of Money and Wealth”. And remember, if you would like to get a copy of this Bible study called “Biblical Viewpoints of Money and Wealth”, give us a call at (877) 718-7884. And we’ll tell you how to get a copy. Again, (877) 718-7884.Mary Jo:
There’s this basic law that tells us how we should be living every day, and it comes from Exodus 20:1-17, “The 10 Commandments. “Then God spoke all these words saying, I am the Lord your God who brought you out of the land of Egypt, out of the house of slavery. You shall have no other gods before me. You shall not make for yourself an idol or any likeness of what is in heaven above or on the earth beneath or in the water under the earth. You shall not worship them or serve them for I the Lord, your God, am a jealous God visiting the inequity of the fathers on the children on the third and the fourth generations of those who hate me, but showing loving kindness to thousands, to those who love me and keep my commandments. You shall not take the name of the Lord your God in vain for the Lord will not leave him unpunished who takes his name in vain. Remember the Sabbath day to keep it Holy. Six days you shall labor and do all your work, but the seventh day is a Sabbath of the Lord your God. In it, you shall not do any work. You or your son or your daughter, your male and your female servant, or your cattle or your sojourner who stays with you. For in six days, the Lord made the heavens and the earth, the sea, and all that is in them and rested on the seventh day. Therefore, the Lord blessed the Sabbath day and made it Holy. Honor your father and your mother, that your days may be prolonged in the land, which the Lord your God gives you. You shall not murder. You shall not commit adultery. You shall not steal. You shall not bear false witness against your neighbor. And you shall not covet your neighbor’s house. You shall not covet your neighbor’s wife or his male servant or his female servant or his ox or his donkey or anything that belongs to your neighbor.” I think it just says don’t covet.Bob:
Mary Jo, good job. That was a lot to go through there. And you did a fantastic job in bringing God’s word to us. And that was the 10 commandments in its entirety from Exodus 20:1-17. In these 10 Commandments, we truly see a secular and biblical world viewpoint throughout them. The biblical worldview, there’s one God.Mary Jo:
Whereas the secular worldview, there’s many gods.Bob:
The biblical worldview is you worship only GodMary Jo:
In the secular worldview, worships idols and thingsBob:
Respect the name of God is a biblical worldview.Mary Jo:
The secular worldview uses God’s name in vain.Bob:
The biblical worldview is to remember the Sabbath.Mary Jo:
Or has no respect for the Sabbath in the secular world.Bob:
Well, we’re seeing a lot of that today aren’t we, Mary Jo? I remember when Sunday was so revered and we went to church and then we went and had our fried chicken. We didn’t do anything else the rest of the day, and all the stores are closed. Remember the blue laws of Texas?Mary Jo:
I sure do. I remember how stringent HEB was, and then when they changed their rules and opened up on Sunday, that was a big deal. And then they started selling beer on Sunday afternoon. That was kind of an eye opener.Bob:
Oh, it just seems like Sunday’s no different than the rest of the week.Mary Jo:
It does my heart good when I drive by Chick-fil-A, and I see that they’re closed on Sundays. I love that they honor that.Bob:
And Hobby Lobby is another one. The fifth of a biblical worldview honors parents.Mary Jo:
And is secular worldview dishonors parents.Bob:
The sixth one is pro-life. A biblical worldview is pro-life.Mary Jo:
Pro choice, where anything goes, no consequences.Bob:
Number seven, faithful to your spouse.Mary Jo:
Or in a secular world, cheats on your spouse.Bob:
Number eight, honest in everything that you do.New Speaker:
Or you steal from others.Bob:
Number nine, tells the truth.Mary Jo:
In a secular worldview, it’s all about lies.Bob:
And number 10, you’re content with what God’s given you and his provisions.Mary Jo:
In a secular worldview, here we go again. We covet what others have. The struggle to understand the spiritual battle we all experience every day between a biblical worldview and a secular worldview. It’s real. It’s out there. We’re facing temptation constantly.Bob:
So this is the foundation for the Bible study that I wrote called “Biblical Viewpoints of Money and Wealth”. And over the next six weeks, we’ll be covering the other six viewpoints on Christian Financial Perspectives. We’ll be looking at things like the difference between an owner and a manager, working and retirement, secular and biblical counsel, money and wealth, giving and blessings, and inheritance and leaving a legacy. In the meantime, you may order your own copy of the Bible study called “Biblical Viewpoints of Money and Wealth” through Google, Amazon, or by calling (877) 718-7884 or you can go to christianfinancialperspectives.com.[DISCLOSURES]
Comments from today’s show are for informational purposes only and not to be considered investment advice or recommendations to buy or sell any company that may have been mentioned or discussed. The opinions expressed are solely those of the hosts, Bob Barber and Mary Jo Lyons. Bob and Mary Jo do not provide tax advice and encourage you to seek guidance from a tax professional. Investment advisory services offered through Christian Investment Advisors Inc. DBA Christian Financial Advisors, a registered investment advisor.
26 min - 29 – Biblical Viewpoints of Money and Wealth Part 1In this episode, Bob and Mary Jo begin a series called “Biblical Viewpoints of Money and Wealth”. This topic was originally designed as a Bible Study and written by Bob Barber. The series is a deep dive into what God’s word has to say about money, so it is a perfect topic to cover here on Christian Financial Perspectives.26 min
- 28 – DiversificationIn finance, diversification is a process of allocating capital in a way that can reduce exposure to any single asset or risk. Bob and Mary Jo breakdown the principle of diversification and all of its different aspects and look at it from various perspectives.26 min
- 28 – DiversificationClick below to listen to Episode 28 – DiversificationDiversification
Learn more about diversification and what it really means in the financial industry.
More episodes >>
In finance, diversification is a process of allocating capital in a way that can reduce exposure to any single asset or risk. Bob and Mary Jo breakdown the principle of diversification and all of its different aspects and look at it from various perspectives.
Often, people mistakenly think that they are diversifying assets because they are using 2-3 different financial advisors. However, diversification is about the number of non-correlated investments you use in your IRA and brokerage accounts, not about the number or advisors or various financial firms that you may use.
Jesus spoke more on stewardship than on heaven and hell combined, so God is very much in tune with how we handle money and the assets He has entrusted to us to manage on His behalf.
HOSTED BY: Bob Barber, CWS®, CKA® and Mary Jo Lyons, CFP®, CKA®
Mentioned In This EpisodeMentioned In This EpisodeChristian Financial AdvisorsWebsiteBob Barber, CWS®, CKA®Mary Jo Lyons, CFP®, CKA®A Random Walk Down Wall Street by Burton G. MalkielWebsiteWant to ask a question about your specific situation? Schedule a complimentary 15 minute phone call.
SCHEDULE AN APPOINTMENTDid you enjoy this episode? Sign up for email updates and never miss an episode.EPISODE TRANSCRIPT[INTRODUCTION]
Bob: Welcome to Christian Financial Perspectives, a weekly podcast where we talk about ways to integrate your faith with your finances. This is Bob Barber.
Mary Jo: And I’m Mary Jo Lyons.
Bob: Are you ready to learn how to apply biblical wisdom to everyday financial decisions?
Mary Jo: Join us as we look at integrating your faith with your finances. If it’s your first time listening, welcome to our podcast, and if you’re a returning listener, welcome back.
[EPISODE]
Bob:
Proverbs 3:3-15, “Blessed are those who find wisdom, those who gain understanding, for she is more profitable than silver and yields better returns than gold. She is more precious than rubies. Nothing you desire can compare with her.”Mary Jo:
Bob in thinking about potential topics for our show, I couldn’t help but recall how we promised our listeners we’re going to try to avoid the use of industry jargon. And when we do fall into this trap, we said that we would help our listeners break it down and explain what it means, how it fits into their financial situation, and what it has to do with their money.Bob:
Do you know what? My wife would say amen to that. Because she says, Bob, when we go out with friends, you’re always talking in financial jargon.Mary Jo:
We make assumptions that everybody understands what that means. But think clients that sit down in front of us. They nod their head, but a lot of times I just really think that they really don’t understand. They’re just too embarrassed to say.Bob:
I think you’re exactly right.Mary Jo:
Or they say, I should know what that means, but I don’t really. I think we want to take our time, spell it out, and really explain things. For example, the other day I was interviewing a potential client and they said to me, I tried to stay diversified and saved my money with several different firms. I said to myself, we need to do a better job of explaining diversification. Today, we are going to talk about diversification and how it plays into an investment portfolio.Bob:
Now, Mary Jo isn’t that easy? Diversification is just don’t put all your eggs in one basket.Mary Jo:
If only it was that simple.Bob:
Seriously, for those who have been listening to Christian Financial Perspectives for some time now, you know that the Bible has a lot to say about money. In fact, it’s believed by many Bible scholars that Jesus spoke more on stewardship than on heaven and hell combined. God is very much in tune with how we handle money and the assets he has entrusted to us to manage on his behalf. Many key financial concepts are addressed in scripture.Mary Jo:
For example, get advice from others who know more than you. This is from Proverbs 15:22.Bob:
Which says, “Plans fail from lack of counsel, but with many advisors, they succeed.” Now let me put in a qualifying part of this. When we talk about many advisors, we’re not talking about multiple insurance advisors, multiple attorneys, multiple CPAs, multiple financial advisors. When we say many advisors, we use that scripture. We’re speaking of have a CPA, have a good insurance advisor, have a good attorney, and have a good financial advisor that’s all working as one and a team.Mary Jo:
Certainly read up on it and do your own investigations. “Only a fool doesn’t plan ahead.” That’s another good one that comes from Proverbs 21:20.Bob:
“The wise store up choice food and olive oil, but fools gulp there’s down.” Boy. That’s pretty straight forward there from Proverbs 21:20, isn’t it, Mary Jo?Mary Jo:
Sure is. Another good one. “It’s good to save, invest, and multiply your holdings.” This is from Matthew chapter 25:14-30.Bob:
This is the scripture that talks about the parable of the talents. And it’s speaking of how the manager gave one talent to one person, three to another, and five to another, and then he came back some time later and asked them what they had done with it. And one had not done anything with it. The other two had gone off, invested it, and had done a good job and said, “We’ve done well here. Here’s your talent, plus another hundred percent more.” I guess it had been a while, because investing takes a while to do that. But Mary Jo, that’s a great scripture.Mary Jo:
It is. Depending on what version of the Bible you read, it’ll refer to talents or coins. Isn’t that correct?Bob:
Yeah. There’s another one. I can’t remember what it is right now, but there is another thing that it refers to other than talents, but talents, I believe, back in biblical times and you take it to today, one talent equaled about $20,000.Mary Jo:
Another good one is, “Invest in a way that’s faithful to God’s Word and that doesn’t harm others.” And this one’s from the 2 Corinthians 6:17.Bob:
This one says, “Therefore, come out from them and be separate, says the Lord. Touch no unclean thing. And I will receive you,” which really speaks into biblically responsible investing that we’ve talked a lot about here on Christian Financial Perspectives and being careful of investing in companies that have a negative impact on our society.Mary Jo:
And that ties into the next one. Don’t rely on money. Rely on God. And this one’s from Matthew 6:33.Bob:
Well, Mary Jo, this is a very famous saying in the Bible. “Seek ye first his kingdom and his righteousness and all these things will be given to you as well.” Meaning, just put God first, not money.Mary Jo:
And finally, don’t forget to have diverse holdings in order to reduce risk. This is from Ecclesiastes 11:2.Bob:
I love this one. Solomon, one of the wealthiest men of all times, even said this, “Invest in seven ventures. Yes in 8, because you do not know what disaster may come upon the land.” To be clear, diversification is about the number of non correlated investments you use in your IRA and brokerage accounts. Mary Jo, define non-correlated real quickly.Mary Jo:
They don’t move in tandem. They behave differently at different times in the market.Bob:
it’s not about the number of advisors that you use or number of different financial firms you use. It’s really about having a non-correlated investment portfolio, right?Mary Jo:
That’s right.Bob:
Mary Jo, we often see this with people. They’re using two or three different financial advisors because they think that makes them diversified, but it really doesn’t. It says in finance that diversification is the process of allocating capital in a way that reduces the exposure to any one particular asset class or risk. A common path towards diversification is to reduce risk or volatility by investing in a variety of asset classes. And we’re going to get into that big time today.Mary Jo:
Yes, we’re going to be covering a lot of technical stuff today, but it’s important stuff. Let’s break it down and look at it from different perspectives. The first one is that in investing, there are two types of risk. There’s systematic risk and unsystematic risk. Systematic risk is undiversifiable risk. It’s risk that you can’t diversify away. It infects the entire market as a whole. Whereas unsystematic risk is risk that is specific to one company, one industry, or one country, or one economy. It can be reduced through diversification.Bob:
Systematic risks are things like interest rates, war, or recession, things that affect the entire market as a whole, where unsystematic risk has to do with things like individual businesses, changing a CEO, or sales being way down or way up, and changes in supply and demand.Mary Jo:
The market is demanding right now. You’ve seen that with all these retailers that are closing all over the place. I just read that another shoe retailer that has been around since I was a kid is closing. Obviously, the supply for their product, the demand for their product rather, has really slowed down.Bob:
That’s an unsystematic risk. By having a diversified portfolio, we help you own investments or assets that are not correlated to each other. That’s something we really try to do. And the thought is is that when one asset has bad news, the other asset class could have good news or behave all together differently to market changes. For example, you could own stocks and real estate or stocks and bonds, or a combination of all three of these classes.Mary Jo:
Bob, what you’re describing is what’s known as modern portfolio theory. Some of our listeners may have heard about that. It was developed by a man named Harry Markowitz in the early 1950s. It’s probably the one thing that most investment managers and advisors can actually agree on. By diversifying your portfolio, you can reduce risk. Let’s look at some of the most common ways you can diversify your portfolio.Bob:
When it comes to the entire universe of investments, there are multiple types of investments or asset classes, but I’d say the three primary investment types are equities, or stocks is what we refer to that too, fixed income or bonds, and cash equivalents like money market instruments and CDs. But first, let’s take a deeper dive into equities.Mary Jo:
Equities represent ownership interest in a company, whereas bonds represent debt of a company. If you own a company stock, you participate in the growth or the decline of that company. You can also generate income from your portfolios. Companies that are doing well are earning money. They’ll pay out some of that earnings in the form of a cash dividend. If you own the stock, you get to collect the dividend. If you buy bonds in a company or entity – it’s not just a company that issues bonds, but say for example, a government – we’re going to talk more about that. They also issue bonds. That’s what we mean by an entity. You’re, in a sense, loaning them money. And in return, they agree to pay you interest and return the amount of the loan or the amount of principle that they borrowed from you when the loan comes due or matures. Bonds have a maturity date. You can reinvest the dividends or interest and buy more, or you can withdraw it in the form of investment income. Bob, that’s a lot to go over. Does that make sense?Bob:
It does. You can buy stocks in individual companies or a collection of them in what is known as a mutual fund or an exchange traded fund. There’s a big difference in these two because a mutual fund is actively managed or an exchange traded fund is not actively managed. It just owns a basket in a particular asset class, which we’re going to get into the asset classes here in a minute, but there’s a lot to consider when building a stock portfolio. For today’s discussion, let’s just talk about diversification in stocks right now.Mary Jo:
Right. You may ask how many stocks do I need to own to have a diversified portfolio? That’s a great question. And there’s this one pretty consistent rule of thumb. It’s from a book, “A Random Walk Down Wall Street”, and there, the author explains that portfolio volatility is greatly reduced when you have as few as 20 stocks with similar weightings. And let’s look at that a little further. In other words, if you had $200,000 to invest, you could buy $10,000 of 20 different companies, but you would also want to further diversify your stock portfolio by owning companies in different industries and different market sectors. Let’s look at that little deeper.Bob:
Okay. Mary Jo, there’s 11 commonly used market sectors for stocks. They are the energy sector and usually that’s like your oil and gas companies. The second one is the material sector, which is like containers, packaging, metals, and forest products; the industrials sector, which is like construction, machinery, airlines, road and rail. The fourth one is consumer discretionary spending. You’ll hear this talked about a lot when you’re listening to a financial show whether that’s up or down and that’s on things like clothing, travel, hotels, and restaurants and is spending going up or down there.Mary Jo:
Right. And it’s a quick barometer of how the overall economy is doingBob:
It sure is. There’s the discretionary spending sector, and then you have the consumer staple sector. Now those are things that we’ve got to have like normal household products, food, beverages, then there’s the health care sector. That’s going to be your healthcare providers and services, biotechnology, pharmaceutical companies, Whoa, there’s a lot here. Financial company sector like insurance companies and banks; the technology sector like internet software, smart phones, and computing. We’re just about done. Number nine is the telecommunication services sector. That’s your wireless communications, entertainment, and internet media. Then you have your utilities, which is a place that a lot of people like to go when the stock markets are really volatile because it’s considered safer. That’s for generating, transmitting, or distributing electricity or natural gas. And that’s something we need regardless of what the economy’s doing. And then the last sector is real estate and this is where they invest in development of properties and management of them. There’s your 11 sectors that we try to diversify across and either overweight or underweight, depending on where the economy is.Mary Jo:
As you were going through that, one of the things that occurred to me is how much some of those have changed over the years. Take the telecommunication sector. Man, that is different today than it was 25 years ago.Bob:
Yeah. It wasn’t about wireless communications back then. It wasn’t about internet media like Netflix.Mary Jo:
Yeah, but our young listeners, they might not even follow us. We probably shouldn’t go back there. It kind of dates us. Another thing to consider is that each of the above sectors tend to have different seasons or periods of outperformance. Again, we were speaking to that just a moment ago. It kind of depends on what’s happened in the economy to whether those sectors are doing well or are poised to do well in the future. When the economy is having a growth spurt, say, after a period of decline, materials is a sector that tends to outperform. And again, materials include building supplies like steel, lumber, and sheet rock. That makes sense that we’re going into a period of expansion. Companies that build things will be in demand.Bob:
And then you’ve got another way to diversify – we’re getting deeper here – is to diversify your equities globally.Mary Jo:
That’s a big one.Bob:
It is a big one because we’re in such a global economy now, which is testimony to the tariffs and how that’s affecting things. You can own equities and companies located domestically – that’s in the United States, internationally – those companies located in foreign countries, or a combination of both. You’ll look at it like this. There’ll be one that’s called a global fund or one that’s called an international fund. And that’s what that means. International is overseas. A global can include the United States, along with international. Of course, then you have your emerging market. Let’s take that even farther. You can own stocks and companies located in developing countries like Europe and Japan, as well as emerging countries like Russia, India, Greece. These are countries who are striving to become more advanced economies, developing regulatory bodies, and creating more sophisticated market exchanges.Mary Jo:
And they come with more risk as a result.Bob:
Yes they do. That’s right, but hopefully a better return because it’s the risk and reward.Mary Jo:
Yes. You can own domestic equities and foreign equities. And then equities are further broken down by market capitalization. Market capitalization refers to the total dollar market or market value of a company’s outstanding shares of stock. Market cap is calculated by multiplying a company shares outstanding by the current market price of one share of stock.Bob:
Now, I’m sure everybody got that.Mary Jo:
I’m sure they did, but I think we’re going to talk about it in more of a visual way that might be more helpful. There are mega companies, large companies, midsized companies, small companies, and even micro cap companies. Those are the really small ones. Let’s take a look at those in a little more detail. Bob, you want to talk about mega cap companies?Bob:
Yeah. Those are the companies that we really recognize that are household names, and they have a market cap in excess of $200 billion. Those are companies like Walmart, Exxon, Microsoft, and Apple. Mary Jo, we want to put in here, this is not a buy or sell recommendation. We’re just giving you examples.Mary Jo:
That’s exactly right. Large cap companies have a market cap of $10 billion to $200 billion. These include companies like Lowe’s, Conoco Phillips, and Caterpillar. And these are names you’re familiar with.Bob:
Then we have your mid cap companies that have a market cap of $2 billion to $10 billion. These are companies like O’Reilly Auto Parts and Plantronics that we have headphones from. These are companies that have gotten beyond the small, but could be on their way to being large.Mary Jo:
Yes. And they kind of move along this line over time. Small cap companies. These are companies with a market cap of $300 million to $2 billion. And they’re not always household names. You may not be familiar with a lot of these companies, Stag Industrial, Douglas Dynamics, Viper Energy Partners. These are just a couple of names.Bob:
Yeah. We got the macro cap companies. These are your smallest companies. I mean, they’re still big. I mean, cause they do have a market cap of $50 million to $300 million, but there are some recognizable names here like Crocs and WD-40 company that are examples of those smaller companies. We understand this is a lot to take in, and we want you to know we’re here to be your guide and help you through all this diversification because it looks like a minefield of investment choices. You do have to be careful which one you step on, too much or too little, for your overall plan. And you can get ahold of us at Christian Financial Advisors by calling our toll free number (877) 718-7884. Again, that’s (877) 718-7884, and we can help you get through this minefield.Mary Jo:
There’s so much to consider when building a portfolio. As advisors, what we have found is that most people, they just don’t have the time, the interest, the expertise, or the discipline to do this themselves. That’s why working with a trusted advisor is really helpful. Bob, we’ve talked about stocks. Now, let’s explore bonds in a little detail.Bob:
Represent an IOU of a company or other type of investment. Let’s say a company wants to build a new warehouse or a state or county wants to build a toll road, but they don’t have the cash to do it. They can borrow the funds by issuing a bond where we can buy shares and in return receive interest from the issuer for the use of our money.Mary Jo:
Just like there are many different kinds of stocks, there are also many different kinds of bonds. Let’s start with the safest one, treasury bonds. These are issued by federal governments to finance budget deficits. I think the United States has a lot of that. And these are considered risk-free since they’re backed by the taxing authority of Uncle Sam.Bob:
Next are government bonds. And they’re just one step from that. This is a debt security issued by government to support government spending. Federal government bonds in the United States include things like savings bonds, treasury bonds, and treasury inflation protected securities called tips.Mary Jo:
And then there’s high yield bonds. These are issued by corporations and governments with lower credit ratings. Riskier, of course, but typically they pay higher interest rates sometimes called junk bonds. Just recently, we heard a lot in the news about Puerto Rican bonds, and they were in trouble financially.Bob:
And then there’s corporate bonds. These are issued by companies with relatively strong balance sheets for financing things like research and development and expansion, but they’re rated by the Standard & Poor’s or Moody’s Investor Services or both, and can be rated AAA, AA, A, or BBB rated. The higher the rating of an issue, the lower the probability of default.Mary Jo:
Municipal bonds are issued by city, county, and state governments or their agencies. There are investment grade, as well as high yield options, depending on the credit worthiness of the issuer. The interest on these is tax-free, thus a good option for folks that live in high tax states like New York. If you own New York bonds and you live in New York, they’re both federally and state tax-free. Foreign bonds are issued by foreign companies, governments, or municipalities and have greater risk. What we know is geo political, as well as currency, risk.Bob:
Bonds serve several purposes in a portfolio that can help diversify risk, but since they pay interest, they’re also used for income. A portfolio of both stocks and bonds can provide growth and income. Bonds also present some tax concerns to be aware of, municipals or fritillary tax free, and state tax free if you buy bonds in your state. Treasury bond interest is state tax free, but other US government and corporate bond interest is subject to state and federal income tax.Mary Jo:
There are other types of bonds as well, but for the purpose of today’s show, we won’t get into too much about those. If you’d like to learn more, give us a call at Christian Financial Advisors at (830) 609-6986, and we’d be happy to talk to you about that in more detail.Bob:
As we end today’s show, the third asset class is just that conservative cash or cash equivalents such as money markets or CDs. By diversifying your portfolio, in theory, you can reduce your risk versus owning one top of investment. How much you own of all the different types of stocks, bonds, and real estate depends on your personal goals, risk tolerance, and timeframe. This concept is what we call asset allocation.Mary Jo:
In an upcoming episode on Christian Financial Perspectives, we will look to explore risk tolerance and timeframes and income strategies. Stay tuned.[DISCLOSURES]
Equity investments involve risk, including the potential for loss of a part or all the principal invested. Investments are inherently risky and will fluctuate with changes in market conditions. International investing entails special risk considerations, including currency fluctuations, lower liquidity, economic and political risk, and differences in accounting methods. Past performance cannot guarantee future results. Indexes are unmanaged measures of market conditions. It is not possible to invest directly into an index. Investing in certain securities may help to hedge against certain risks, but does not imply any guarantee from loss. There are no guarantees any investment or strategy will meet its intended objective. In general, the bond market can be volatile. The return in principle value of bonds fluctuate with changes in market conditions. If bonds are not held to maturity, they may be worth more or less than their original value. Investors should consider their investment objectives, risks, charges, and expenses associated with municipal fund securities before investing. This information is found in the issuer’s official statement and should be read carefully before investing. Income from municipal bonds may be subject to federal and or state alternative minimum taxes. To determine which investment may be appropriate for you, consult your financial, tax, or legal professional. Please remember that investment decisions should be based on an individual’s goals, time horizon, and risk tolerance. Comments from today’s show are for informational purposes only and not to be considered investment advice or recommendations to buy or sell any company that may have been mentioned or discussed. The opinions expressed are solely those of the hosts, Bob Barber and Mary Jo Lyons. Bob and Mary Jo do not provide tax advice and encourage you to seek guidance from a tax professional. Investment advisory services offered through Christian Investment Advisors Inc. DBA Christian Financial Advisors, a registered investment advisor.
26 min - 27 – Money Master or Money MonsterBob and Mary Jo present ways to create a “Family Money Legacy” for your children and/or grandchildren. A common goal for many parents and grandparents is for their children and grandchildren to learn how to master their God given resources, and not have money master them. It’s important to create a “Money Master” and not a “Money Monster”.28 min
- 27 – Money Master or Money MonsterClick below to listen to Episode 27 – Money Master or Money MonsterMoney Master or Money Monster
Are you creating a money master or money monster when it comes to teaching future generations about finance?
More episodes >>
Bob and Mary Jo present ways to create a “Family Money Legacy” for your children and/or grandchildren. A common goal for many parents and grandparents is for their children and grandchildren to learn how to master their God given resources, and not have money master them. It’s important to create a “Money Master” and not a “Money Monster”.
Money can be a monster if you first don’t learn to master it, especially when it comes to your emotions about money. Teaching children in regards to money issues can have a multi-generational impact, and leaving a financial legacy is about more than leaving a financial inheritance to the next generation. It’s about teaching them how to be good stewards of what God has blessed them with.
It’s about family, a shared family history, and shared family values.
HOSTED BY: Bob Barber, CWS®, CKA® and Mary Jo Lyons, CFP®, CKA®
Mentioned In This EpisodeChristian Financial AdvisorsWebsiteBob Barber, CWS®, CKA®Mary Jo Lyons, CFP®, CKA®Is Your Child a Money Master or a Money Monster by Sunny LeeWebsiteFamily. Money. by Terry Parker & Gary SpearyWebsiteWant to ask a question about your specific situation? Schedule a complimentary 15 minute phone call.
SCHEDULE AN APPOINTMENTDid you enjoy this episode? Sign up for email updates and never miss an episode.EPISODE TRANSCRIPT[INTRODUCTION]
Bob: Welcome to Christian Financial Perspectives, a weekly podcast where we talk about ways to integrate your faith with your finances. This is Bob Barber.
Mary Jo: And I’m Mary Jo Lyons.
Bob: Are you ready to learn how to apply biblical wisdom to everyday financial decisions?
Mary Jo: Join us as we look at integrating your faith with your finances. If it’s your first time listening, welcome to our podcast, and if you’re a returning listener, welcome back.
[EPISODE]
Mary Jo:
We do apologize if our voices sound a little scratchy today, Bob and I are both getting over a cold. We’re trying to get this out, but we just want to apologize if you hear any of our throats clearing.Bob:
Okay. Yeah. Yeah. We’re trying to getting over this. Proverbs 22:6, “Train up a child in the way he should go and when he is old, he will not depart from it.” What a beautiful scripture in today’s program, we’re going to look at some ways to create a family money legacy for your children and grandchildren. But first, what is even more important is creating that spiritual legacy because if you just create a money legacy without the foundation of a spiritual legacy first, you could create a money monster. I’ll tell you no parent or grandparent wants that.Mary Jo:
God gives us many warnings in his word. For example, from Proverbs 20:21, “An inheritance gain hurriedly at the beginning will not be blessed in the end.”Bob:
Mary Jo, I’ve seen that one play out many times with the years of experience I have in financial planning. I bet you have too.Mary Jo:
Absolutely.Bob:
Another scripture, before we get to the actual program, that is the foundation for today is 1 Timothy 6:10, “For the love of money is the root of all kinds of evil. Some people eager for money have wandered from the faith and pierced themselves with many griefs.” And I want to emphasize that it says the love of money. Money itself is not evil, but it’s the love of money that makes it evil. So we’re calling today’s show “Money Master or Money Monster”. That’s an interesting title that you gave today’s program, Mary Jo.Mary Jo:
That’s true. I’ll share a little insight on that. So, is your child a money master or money monster? I do think it’s a great title. In fact, there’s a book by that name by Sonny Lee who’s an investment advisor in California, but I just loved the title and thought it really addressed the thoughts very clearly on what we wanted to share with our listeners today. A common goal for many parents and grandparents is for their children and their grandchildren to learn how to master their God given resources and not have money master them.Bob:
Leaving that financial legacy is about more than just a financial inheritance for the next generation. It’s really teaching them how to be good stewards of what God’s blessed them with. It’s really about family and family history and sharing those family values. So, we’re going to explore this topic of stewardship and being prepared. The question is, think about this as you’re listening, have you as a parent or grandparent chosen who the next steward is going to be for the wealth that you have been able to accumulate over your lifetime and that God has helped you to create? Because we really want you to think about who that person is going to be. I have three daughters and we have a couple of son-in-laws now, but they all manage money differently. They all have different styles of managing it. I will say one of them, I can’t get her to even go out and spend a dime because she’s so conservative. Another one, she’ll spend every dime or every dollar or every thousand dollars you give her within a very short period of time and the other one’s kind of in the middle. So it’s interesting how all of our children have different ways that they deal with money. So as you’re hearing that maybe it’s making you think about your children. Who is that person that you would make the head steward of your family wealth should something happen to you prematurely, either death or disability, after that wealth has passed on. So there’s many different ideas there.Mary Jo:
And are they prepared to handle whatever comes their way in a wise manner and from a biblical perspective and a biblical worldview? The next steward of your wealth is one of the most important stewardship decisions that you as a parent could make, that person or persons should be prepared to receive their inheritance with wisdom and not be surprised by it.Bob:
Well, I’ll tell you what, Mary Jo, so many are surprised. I’ve had them, as you know, you too. They didn’t know about this inheritance that was coming. They thought it was going to be $100,000 or $50,000 and all of a sudden, they’ve inherited $500,000. I have one that inherited a bunch of gold. The dad had accumulated thousands and thousands of dollars worth of gold, and they didn’t know what to do with it because the gold was up in the Northeast. They were down here in Texas, and they’re like, how do I get this down here?Mary Jo:
So many parents are very private, and they don’t share everything. Children think it’s not appropriate to ask. So, they’re not aware of the resources, but we do encourage our listeners to check out one of our upcoming episodes on family communications, and we’re calling it “All In The Family”. There’s some great information there about how to have these difficult and challenging conversations.Bob:
They can be that. They definitely can. One of the things that is so important is not just passing money, but you pass wisdom and how to handle it. So never pass on money or wealth without first passing on God’s wisdom to your children for handling it. In fact, there’s a beautiful story from the Bible, that’s in Solomon and 2 Chronicles 1, where he could ask for anything he wanted, but what he asked for? He asked for wisdom, and in return, wisdom actually ended up making Solomon one of the wealthiest men to ever live in the history of the world, but it was wisdom first.Mary Jo:
Wisdom is the skill of living life well. By making good sound decisions, wealth will never create wisdom, although wisdom can create wealth. All money decisions are also spiritual decisions. With money comes emotion, and inheritance may have disastrous outcomes for some, depending on the child, their relationship with God, and their ability to handle the financial responsibility. This requires prior planning and prayerful consideration. Enormous wealth left to an untrained heir is often squandered. How many times have I heard you say that, Bob?Bob:
Lots of times. I can say that. And Mary Jo, I want to emphasize what you said there that all money decisions are spiritual decisions, especially for a Christian, because if we believe that God owns it all, then we need to pray about those decisions. So, it’s just important that we understand as Christians. We don’t think about that, but we should pray about all the money decisions that we make and those money decisions that we’re going to pass on to our children that they’re going to have to make into their lives.Mary Jo:
We also encourage you to pray about what advisor you’re going to work with. If you’re thinking about planning for your upcoming retirement and looking for an advisor to help you, you want to pray that you find an advisor that will help you from a Christian perspective and not a worldly one.Bob:
You remember that program we did right at the beginning, I think it was about the fourth or fifth one, of how to choose a financial advisor from a biblical perspective. And we went into Timothy 3, and we looked at the virtues of an elder or a deacon. And there were like 15 to I think there was actually about 19 virtues. So, I’d like to emphasize that that’s a good reference in the Bible to look for that.Mary Jo:
That’s a great reminder, Bob.Bob:
Mary Jo, when it comes to raising money masters, one thing that we believe has helped is to talk to your kids about where that money came from, how you made it, and how you earned it. Were you a business owner? Go through those life changes that occurred during all those years that you were accumulating wealth and how you came about it. I think that’s such an important thing.Mary Jo:
I do agree, Bob. I think that’s a great idea. You want to talk about your job, what you had to do to become qualified to do your job. And it’s a choice you make to go to work every day and provide for your family. Not everyone does this. It takes you away from spending time with your family, but you believe it’s necessary. So you want your kids to know that the money the family has to spend is hard earned and should be spent and invested wisely. It really doesn’t grow on trees.Bob:
Wait a second. I just looked at my trees this morning and saw money growing from them.Mary Jo:
You must have a really special nursery in your town.Bob:
Was it that medication I was taking for the cold? I know. I’m just playing. We really want our kids to have skin in the game, though. That’s so important, and we encourage our listeners to allow their kids to earn an allowance and teach them how to divide it up using that bucket strategy that we’ve talked about on other programs – live, give, owe, grow.Mary Jo:
Hopefully, our kids don’t owe anything. We’re talking about little kids.Bob:
Not yet. They don’t owe taxes, but they’re going to learn about it one of these days. We’re always going to owe at least taxes, but yeah, live, give, and grow. I remember, as our kids were growing up, we did that. Here’s what you’re saving. Here is what we want you to give. Here’s what we want you to grow. The living part was always the fun part. They liked it. They liked to go spend it.Mary Jo:
Right. It’s also a great practice to include them in the family budget discussions. If they know how hard you have to work to make your money stretch, they may be more inclined to work with you rather than against you. I know it’s a funny thought, but you might actually just see them turn off the lights when they leave the room and not stand in front of the refrigerator door just looking to see what they might find that sounds appealing. How many times have you walked into the kitchen and the kids are standing there with the refrigerator open, just shopping.Bob:
Especially if they’re boys. There’s an old saying, “Do as I say, not as I do.” Have you ever heard this before?Mary Jo:
I have heard it a time or two. This is a principle that does not work, does it?Bob:
It really doesn’t. I mean, we have to be examples. So don’t just tell your kids to do as you say, not as you do. You need to be the example in doing it.Mary Jo:
There’s also the thinking that I don’t need to teach them. They’re just going to pick it up from me. It’s a great mindset to have and a great way to live as many times for more is caught than taught. But if you look at it from a biblical perspective, it’s both, wouldn’t you say?Bob:
Oh, definitely. I’d say that it’s very critical for raising money wise children and grandchildren that you’re walking the walk and living the talk.Mary Jo:
Money management is no different. It is a skill that can be taught, but it takes many years. I have always believed that the best way to teach children is by modeling behavior. So whatever you want them to pick up ought to be what you are doing and how you are behaving. Bob, as we’re talking, I just keep hearing this song playing in my head. I am a fan of country music. It’s a favorite country song by Rodney Atkins. I’m sure a lot of our listeners have heard it as well. “‘Son. Now, where did you learn to talk like that?’ ‘I’ve been watching you dad, ain’t that cool? I’m your Buckaroo. I want to be just like you. I want to do everything you do. So I’ve been watching you.'”Bob:
I haven’t heard this song.Mary Jo:
It’s probably about 10 years old.Bob:
But it sounds like a good one because really that’s what’s happening. Our children are watching us.Mary Jo:
They are.Bob:
How we handle money and how we do it. And like you say, we’re either making them a money master or money monster. As a parent or grandparent, your children are watching you more than you really realize. And they may catch more by your example of how you handle money than is taught by you. I think you should do both because as God’s word says in Deuteronomy 11:18-19, “You shall therefore impress these words of mine on your heart and on your soul. And you shall bind them as a sign on your hand and they shall be as frontals on your forehead.” This is really saying that God’s Word should be everywhere and you need to teach that to them and live by it.Mary Jo:
“You shall teach them to your sons, talking of them when you sit in your house and when you walk along the road and when you lie down and when you rise up.” What this is really saying is we should teach God’s Word to our children all the time. But what’s just as important as teaching it is that we’re living it. We’re living by example.Bob:
Yeah. This is true. As with most parenting lessons, the modeling of how we handle money is one of the best teachers, but teaching them God’s Word is the best. It’s like today’s program, money master or money monster, because money can be a monster.Mary Jo:
It sure can.Bob:
If you don’t learn to master it, especially when it comes to your emotions about money. Faith is not based on emotions, but on the Word of God. So teaching our children in regards to money issues can have a true multigenerational impact.Mary Jo:
Mastering money has more to do with our attitude towards money than anything else, what we do with it and why, how we manage it, or how it manages us or controls us. Money issues are also heart issues. When money comes up, we instinctively fear conflict, exposure, shame, or loss of control. Financial conversations take courage and can be uncomfortable. That’s why so many people avoid them.Bob:
I think one of the biggest challenges we have today is all these cultural battles and images coming to us, Mary Jo, from the internet and all the media and social media. We really live – I don’t like to live in it, but you get into that. You can see a dark world, and we’re constantly bombarded with competing cultural messages that influence all of us, especially our kids at every turn, whether they’re 10 years old, 25 years old, or 50 years old, we need to be careful of looking at those worldly images and worldly views instead of a biblical worldview. Mary Jo, just reminds me of when I was a kid, my total worldview was just two blocks around me, but today it’s all over the place. I grew up in Lake Jackson, and when I was a kid that was about 5,000 – 6,000 people. It’s like Mayberry. All I wondered about was what was happening the next block over, but today with the internet and smartphones and Facebook, there’s all these different messages coming at us.Mary Jo:
I think that was the value of growing up in small town America. I miss those days. I’m right there with you, Bob. Many parents think that their kids will learn about money management as part of school curriculum, but this just simply isn’t true. And we live in a credit society. Buy now, pay later. So many of our children and grandchildren never learned basic financial skills or concepts like balancing a checkbook or the power of compounding. That’s an incredible thing to look at.Bob:
This reminds me of a story. Benjamin Franklin had a lot of great sayings, but he had this interesting concept about compounding. Mary Jo, I know you’ve heard that one.Mary Jo:
I have, Bob. And it’s a great reminder about how this simple principle can work for you over time. So why don’t you share the story?Bob:
Well, when Benjamin Franklin died, which was back in 1790, he left this gift to his two favorite cities, Boston and Philadelphia, and it was $5,000. Now, back then, that was a lot of money. Today, that may not be much, but back then, it was a lot of money. Guess what he did? He said you can only invest this money. He put that in the will, and it can only be paid out in the future at two specific dates, 100 years from now and 200 years from now. So after 100 years, each city was allowed to withdraw from this endowment that he left. Remember, it was just $5,000. After 100 years, each city was allowed to withdraw $500,000 for their public work projects. And after 200 years, that was in 1991, they received the balance of, can you guess what that amount was?Mary Jo:
Well, I know that it was a surprising increase. I’d say something like 20 million for each city. Is that about right?Bob:
You knew the answer. That’s right. $5,000 grew to $20 million. And in the middle of that, they withdrew $500,000 from it. So, this really teaches us about compounding.Mary Jo:
You’re right. So this example teaches all of us in a dramatic way the power of compounding. Franklin himself liked to describe the benefits of compounding. He used to say “money makes money and the money that money makes makes money.”Bob:
So you think about this, Mary Jo, maybe we ought to leave a $5,000 gift to our great, great, great, great grandchild. Maybe they’ll be very wealthy someday, right?Mary Jo:
That would be awesome. It’s a great idea.Bob:
And we don’t want to assume the mistake of assuming our kids know how to handle money, because many don’t. Many college graduates have so much debt and student loans and credit could be so easy today. So we’re going to get into some really strong lessons about this.Mary Jo:
We’ve got seven critical lessons. So these are lessons that your young children, as well as your young adult children can benefit from. They always need these money lessons. Number one, there’s a direct relationship between effort and reward. Nothing comes for free. You actually have to work at it.Bob:
That’s not any fun.Mary Jo:
I know. What a rude awakening and number two, delayed gratification. Good things come to those who wait.Bob:
That’s not any fun either.Mary Jo:
I know. We’re taking all the fun out of it, but it definitely sets the stage. And it really is what life is all about.Bob:
Yeah, no, you’re right. You’re absolutely right.Mary Jo:
And number three, conflict resolution. If someone doesn’t agree with you or if you want something and mom and dad are saying no, how do you have those discussions? And you gotta teach your kids to not just get angry and blow up, but how to communicate what their wishes are and to reason it out in their mind. And then number four, how to develop a budget and stick to it. Even children have their own budget. Maybe they’re saving for some tennis shoes, but they also need some school supplies or the daughter needs some new makeup. You gotta show them how to budget for that. And then how to make financial decisions. Along with that comes number six, How to set longterm financial goals. And again, you can listen to one of our earlier episodes where we talked about setting longterm financial goals. And finally number seven, how to live for today, but plan for tomorrow. So here you go, Bob, we’re not talking about putting everything off. I mean, you do have to be able to enjoy today, but at the same time, save and plan for what may come tomorrow.Bob:
Mary Jo, out of those seven, number five was my favorite one. That was how to make financial decisions. Because most people, they really don’t understand how to make financial decisions, which comes with that second one you said, delayed gratification. This reminds me of an example of when you’re buying a car. And don’t let your emotions get caught when buying a vehicle. I’ve seen where emotions can really get you to make the wrong decision. But I’ve seen from the opposite side of it, because I’ve been a part of that where I’m not going to let emotions play in it. And you go to buy that vehicle and you wait a couple weeks, and every time they seem to come down on the price, $2,000 – $5,000 or more. So that’s an example of learning how to make those financial decisions that we need to learn ourselves and teach our children and be an example.Mary Jo:
Bob, as you’re talking, I’m just laughing to myself, cause I know you’re really meaning that message for my husband. One of the things he obsesses about is cars. And he’s always following me around with his iPad and showing me pictures of the hot rod of the day. And I keep telling him Mike, you just really need to wait because tomorrow there’s going to be a different one and you’re going to want that one too. So since you can’t make up your mind, you might as well just wait.Bob:
I’ll tell you what, I’ll go with him next time he goes to buy a car. Okay. But he might not like me because I’m going to say, walk off the lot. Walk off the lot and go bid it out across the state. Cause they always say, well, that’s the last one of its kind. I always look at the highway where there’s a lot of cars going up and down that highway. I don’t think so. Mary Jo, when wealth is significant, it has a way of fracturing family dynamics. So we gotta be careful with that. It challenges even the most basic of communications between loved ones. Money just does that.Mary Jo:
It does, it does. And if you’re fortunate enough to leave it inheritance to future generations, will it be a blessing or will it be a curse? To degree that there is wealth, there must be communication about how the wealth was made.Bob:
Another question I was thinking of, have you clearly communicated and modeled wise money management skills to the generations coming behind you?Mary Jo:
Do your kids know what your expectations are, and do you know what your kid’s expectations?Bob:
I want to say that one again, because when I heard that it got me a little bit. Do your kids know what your expectations are, and do you know what your kid’s expectations are? That’s interesting, and that needs to sink in, because this can create a complete conversation right there, just from that.Mary Jo:
A philosophy is nothing more than a set of answers. Your financial philosophy, the one you pass on to your children, it will be the sum total of the answers to your questions about money, but are you asking the right questions? And the best way to start the dialogue is to ask a question. Bob, I know you’ve got a couple of good questions.Bob:
Well the one I always like to ask is who really owns it. That’s the one that we need to ask of ourselves. It’s one that we need to ask of our children, our grandchildren, because if we really believe God’s word in Psalms 24:1, it says, “The earth is the Lord’s and everything in it.” And this is a scriptural guideline we talk about often here on Christian Financial Perspectives. Just from a little bit of scripture right there, you can teach your children and go into all the things you see around you and teach that God created them all and he owns it and he expects us to be good managers of it. When you’re driving your car, ask your child who owns this car? In your home, who owns this home? That’s a Christian perspective. We understand that’s a Christian worldview because we all want to say well that’s my stuff. But according to God’s Word, it really belongs to him when we’re managers of it.Mary Jo:
Another great question is how much is enough? I think that’s even true for our young minds. And that comes from Luke 12:17-21. This scripture is the one that talks about do I just want to build bigger barns, bigger and bigger and bigger barns.Bob:
Another question is where should it go in the end after you’re done with it? Are my heirs equipped to handle their inheritance, like from Proverbs 20:21, “An inheritance quickly gained in the beginning is not blessed in the end” is how that one goes. So, think about that and is it going to them too quickly that it will not be blessed in the end?Mary Jo:
And will my children and my children’s children share my family stewardship philosophy?Bob:
That takes us back to that scripture from Deuteronomy that we talked about earlier, Mary Jo, and educating the future generations and sharing God’s Word with them. Again, that’s Deuteronomy 11:18-19.Mary Jo:
That takes us to thoughtful legacies. We want to make sure that we’re being thoughtful and thinking through what we’re setting down, how we are setting the table for our kids. We want to live a life so that you’re making a difference for others and for those around you. Are you modeling this? This is a great legacy to leave to your kids. And remember, those legacies are not always about money.Bob:
Think about leaving something to benefit ministries you care about. As an example, in your will and estate plan and ministries you care about in your community. So let your children and grandchildren know what those ministries are.Mary Jo:
Work with trusted counsel to help you memorialize your intentions. Seeking wise counsel is something we talk a lot about here on Christian Financial Perspectives. It’s one thing to talk about it, but have you actually taken steps to implement it?Bob:
Number four under thoughtful legacies is pass along training as part of an inheritance, so what is passed will also be blessed.Mary Jo:
And help your family discover the great joy of giving. Develop a vision for sharing.Bob:
In their book, Family.Money, the authors Terry Parker and Gary Speary from the National Christian Foundation provide great insight into many of the financial philosophies that we’ve talked about today. We’ve had the National Christian foundation as a guest on the show in the past too. So if you’d like to go back and listen to that, we would encourage you to, but they have a great guide in there about the family conversation about money that’s in the back of that book, Family.Money. You can download this book off the internet for free, just put “Family.Money by the National Christian Foundation” and you’ll be able to find that.Mary Jo:
They can also give us a call directly if they want some more information on the book or how to get it.Bob:
So as we wrap up today’s program, we’d like to leave you with one final scripture.Mary Jo:
Proverbs 4:6, “Don’t turn your back on wisdom, for she will protect you. Love her, and she will guard you.”Bob:
So are your kids “Money Masters or Money Monsters”?[DISCLOSURES]
Comments from today’s show are for informational purposes only and not to be considered investment advice or recommendations to buy or sell any company that may have been mentioned or discussed. The opinions expressed are solely those of the hosts, Bob Barber and Mary Jo Lyons. Bob and Mary Jo do not provide tax advice and encourage you to seek guidance from a tax professional. Investment advisory services offered through Christian Investment Advisors Inc. DBA Christian Financial Advisors, a registered investment advisor.
28 min - 26 – It’s All in the Family Part 2 of 2In Part 2 of our 2 part series “It’s All In The Family”, Bob and Mary Jo discuss the importance of having financial conversations with your spouse in a sensitive and productive way. Having these conversations is usually anything but easy. So, in order to better provide a simple way to begin these conversations, Bob and Mary Jo offer “10 Tips for Talking With Your Partner About Money”.22 min
About Christian Financial Perspectives
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Biblical wisdom for financial decisions and goals. Conversations about managing money according to Christian principles, featuring expert insights on budgeting, investing, giving, and building wealth…
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