Balancing Financial and
by Bill Campbell
As 2018 begins to unfold, our hope is that our path will be straight and our ways prosperous. History is full of examples of self-reliant people who innocently see their future through the eyes of their own success and actions. We contemplate resolutions that we hope will lead us to a brighter future in the upcoming new year.
As financial advisors, people seek our advice on how to navigate stormy “financial” waters. They have questions about wealth building strategies using brokerage accounts, 401Ks, IRAs, and 529 plans. They wonder if a second home might be affordable or if they should consider buying gold or Bitcoin. There can be a tendency to focus on providing for our own security as we get older or closer to retirement – something that we are not the first generation to do.
Many people have gone down this path for centuries although they had different names for the way they tried to build and protect wealth. As far back as Israel in the Old Testament, people worshiped and hoarded gold, silver and other precious metals. As we look back over time, one thing holds true … the presence of idols (there’s that word we don’t like to hear or use) in the presence of a Holy God is not good for our financial or eternal health.
The Bible provides countless examples of how money and reliance on other forms of idols can take us down. Although there are many examples of how our actions have a direct impact on us in the Bible, the book of Hosea provides insight and examples of how God views us1, what He expects from us2, and what we can expect from Him3. The people of Israel in the Old Testament acted much like we do today. They were blessed4, they fell away from a reliance on God5, and they suffered because of their actions apart from God6.
As stewards of the financial resources we’ve been provided, we sometimes struggle with how to address current and future concerns of financial safety and security. It can be a daunting task to align one’s financial goals with biblical principles, but as Christians, that is exactly what we are called to do. As we balance our own plans and financial goals with what we are called to do as Christians, keep in mind that how we respond to and manage God’s financial resources (they are not ours), is what is important to God and not the number of zeroes in our financial accounts.
In today’s secular world, we have basic financial principles such as:
- Saving 10-15% of your gross income before other bills
- Paying off debt as quickly as possible
- Applying payments from debt to savings once debt is paid off
- Establishing financial and charitable giving goals to make sure we stay on course
We also have guiding Christian principles found in the Bible and summarized in Riches – A Biblical Perspective by Vision Foundation which states that 1) God is the creator, owner, and dispenser of our financial resources; 2) He provides us with these financial resources for our basic needs7 for enjoyment as we live the life he’s given us8; and 3) to meet the needs of others9.
When you open your next financial statement or read a colorful and well written investment, automotive, or real estate marketing brochure, and feel the excitement of how that product or experience could make you feel, make sure you take a moment to prayerfully consider and balance these financial and Christian principles.
Hosea 14:9 sums up God’s perspective on how we should navigate our way through life. “ Whoever is wise, let him understand these things; Whoever is discerning, let him know them. For the ways of the LORD are right, and the righteous will walk in them, but transgressors will stumble in them. ” If you have questions, feel free to call Bill Campbell with Peters Wealth Advisors at (225) 766-4885.
Bill Campbell, CFP®, CLU®, ChFC®, CeBS serves the clients of Peters Wealth Advisors as an Advisor. With over 30 years of experience in the industry, he has helped clients with plans for their cash flow, education, investments, retirement, business, and estates. He earned his master’s degree in Business Administration (MBA) from Tulane University in New orleans and his bachelor’s in economics from North Carolina State University. Bill and his wife ginger are members of The Chapel on the Campus and have 2 sons and 10 grandchildren.
Investment advisory services are offered through Peters Wealth Advisors, LLC (“PWA”) an investment advisor registered with the U.S. Securities and Exchange Commission. Such services are only provided after clients have entered into a Wealth Management Agreement confirming the terms of the advisor client engagement and have been provided a copy of PWA’s ADV Part 2A brochure document.
1 Hosea 11:1-4 Hosea 14:1
2 Hosea 12:6
3 Hosea 18-23
4 Genesis 12:2
5 Hosea 14:1
6 Hosea 4:1-19
7 Matthew 6:25-33
8 1 Timothy 6:17-19, 2 Corinthians: 6-8
9 Matthew 28:18-20, Mark 10: 43-45, Philippians 2: 3-4