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MoneyWise

with Rob West & Steve Moore
Biblical Investing Saturday, May 23, 2020
We had a good run, over a decade, but the much feared “bear market” has Wall Street in its grip, what better time then for a refresher course on the basic principles of investing straight from God’s Word. The Bible tells us that Christians are not to fear anything in this world, bear markets included. Today, Kingdom Advisors President Rob West tells you how to banish fear from your investment decisions by reviewing those basic principles.   •          First, it’s not your money. God owns everything. We should always ask ourselves, “How does God want me to save, spend, and invest His money?” •          Next, live on less than you earn. Proverbs 21:20 says, “Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it.” •          Next is that the concept of saving or investing for the future is entirely biblical. Proverbs 6, verses 6 through 8: “Go to the ant, you sluggard; consider its ways and be wise! It has no … overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest.” •          Next is diversification. Ecclesiastes 11:2 teaches, “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.” •          Only invest in a company or mutual fund that you understand. Proverbs 27:23 warns us, “Know well the condition of your flocks, and pay attention to your herds … ” •          The next biblical investing principle is patience. Studies have shown that buying and holding onto good investments for a long period of time is more likely to build wealth than even a well thought out “buy and sell” strategy. •          Lastly, don’t be greedy. In Luke 12:15, Jesus says, “... be on your guard against every form of greed; for not even when one has an abundance does his life consist of his possessions.” •          Giving breaks the power of money to make us greedy. Ron Blue suggests that our giving should match what we invest.     In today’s show we also answer your questions:   •           I am in my mid 60s and do not have a retirement plan in place. Suggestions? •           I have a target dated 401K. Advice on how to manage it myself? •           How much would you suggest to put down on a car? •           I owe about 32K on a home that has been sitting vacant. I would like to offer it as rent to own to my nephew. Is this wise?   Ask your questions at (800) 525-7000 or email them at [email protected] Visit our website at moneywise.org where you can connect with a MoneyWise Coach, purchase books, and even download free, helpful resources.

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