Guest: Russ Crosson, chief mission officer and senior partner of Blue Trust (Ron Blue Institute), and author of Your Life…Well Spent: The Eternal Rewards of Investing Yourself and Your Money in Your Family

If you’d like to watch this podcast, check out the PCA YouTube page.

Russ - I manage my money to have more LIFE, not just more money!

Russ - you need to know the difference between PROSPERITY (wealth/money/material possessions) and POSTERITY (children/legacy/generations to come).

The Principle of Time Replacement: How to Add Posterity Time to Our Schedules

• “Time-saving” devices - we spend more time working in pursuit of more money or to buy more possessions that require time to use and maintain. As a result, the typical full-time employee’s work week has expanded from forty to nearly fifty-seven hours.

• When you make spending decisions, ask, “How will this expense affect our entire family?”

• Principle of Replacement - the addition of new time commitments to my schedule usually involves a trade-off between work and posterity time
  • Only say yes if the activity can replace something else that’s already in your schedule that doesn’t detract from your posterity time

A New Understanding of Work

#5 - Only change vocations to better fulfill your purpose and maximize your time flexibility - not to make more money

#7 - If you’re in a career that is currently generating sufficient income, carefully evaluate additional time spent to earn more income, especially if your children are young.

• Remember, your children’s first ten years are the most critical

A Good Name is Better Than Riches: Building Our Posterity’s Social Capital

• Must take the time to train our children