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Savings and Investing in Uncertain Times

G. Edward Reid

Hosting its seventh annual conference, GYC's 2008 theme this was "For This Purpose." How do we find this purpose? By listening to and studying God's Word. Featuring inspirational speakers such as Justin Kim, Randy Skeete, Radim Passer, Chelsy Jourdan, Alistair Huong, Doug Batchelor, and more, this conference leads us in studying how we can reflect Christ's character.

Presenter

G. Edward Reid

Former Stewardship Director, North American Division of Seventh-day Adventists

Conference

Recorded

  • December 19, 2008
    9:30 AM
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probably the most interesting thing based on the current information that is happening in the world of finance is the topic remember discuss right now because even people that aren't greedy have to save for retirement and they have to save for your unexpected expenses and emergencies and so on and the question is where can you find safe places to visit frankly there is no safe place on this earth is only relative risk as you know but at any rate we are going to discuss that and if any of you have questions or comments as we go along I'll be happy to entertain those but we always begin with a prayer because we can open God 's word as we look at this heavenly father we thank you for the privilege we have again of meeting this class we British bless us as we discuss these important topics and may your Holy Spirit guide each of us not only right now but in our lives that we have your wisdom and blessing in Jesus name amen most people have almost no savings in the United States is not culturally accepted because they're just so many things to buy and so many advertising 's and so on so among many of you probably heard Dave Ramsey on the on the radio and has big deal is signed at least a thousand dollars in legal couldn't do that in over a period of time and that is what we would typically say is in a three to six months equivalent of your expenses to have in savings so that any little thing that comes along is nominally viewing alerts regarding his credit but I'll just point out some of these by the way this is my first time to present this fan so I'm never sick to my computer a lot more than usual but I'll make some comments on it of these all of these power points are ready in the instructor 's manual for the material later this month but where he is currently finding out a little bit and then will reproduce on the savings is essential to sound money management even if you fail to save your budget will fail and without savings you are doomed to the use of credit it's just incredible how many people and I will yes all the people to file for my Christian fiction United States ninety five percent of metal credit cards next out is the probably the leading cause of bankruptcy in America for personal family bankruptcy is just really really incredible I may be told some of you just in a small group but I mention it a man called me about three months ago and address man sixty three years old had ten credit cards all of them were maxed out hundred eighty two thousand five hundred dollars outstanding balance all these doings making interest on every month and this is incredible position to be an especially so near the end of some new retirement you understand that this is the kind of thing if you don't have savings you will have to use credit at some point so that's what I'm encouraging people to decipher future needs so you have to change your attitude to be financially help that you need to view savings as essential for just as essential as food transportation as housing or any other item in your budget by the way the most of you have access to Alan White's book and Dennis home in section thirteen and apostolic is about personal finance and she says and there is something very very amazing every time you get any money safe environment is not amazing you cannot even get that much say department shall show you some of the waste into by the way I wanted to fast over this because there's a difference between savings and hoarding as you know does anybody know the difference in my savings according the Bible encourages savings as I'll show you here though to the end Oslo to consider her ways and be wise of which having no guide or oversee our ruler provides her meet in the summer and gathers her food in the harvest business incredible below and save so that if you are selfish we would learn how to do that with a skull delaying gratification save a little bit but the savings is saving for a purpose for example what savings is for a specific purpose such is my new card to educate our children and hoarding on the other hand is saving for security after saving for security how much is enough or yet you never have enough this is really amazing to me to it it's just incredible by the way I will tell you one thing is important to note last evening the last session we are talking about paying off your house and how valuable that was the Wall Street Journal in Kiplinger 's newsletter bottom line personal many of the finance calculators people and that would teach money management will say that the very best thing you can do to save for your children's education is that your house off this incredible lesson if you had your house paid off what would you could easily develop and get to college you can use the money that you were using that your house payments the sender gets to school and you're always in a different position that which is really amazing to me the list and I'll blame you for not knowing if you didn't know because no one ever tells us I had awakened the mail one of my seminars and I was talking about the good that trying to love snowball thing we mentioned yesterday paying off your debts pay the minimum payment on everything that they mock from the bottom up as quickly as you can she said to me unlike your café on the manager in our family when she went the last person to talk to me because she was embarrassed but she said she said I did not know until your seminar today that I could pay more than the minimum payment on my credit card how could you ever not know that but she just didn't know she wasn't stupid what was she ignorant that's what we talked about yesterday varies the most leading reason that people get in problems so what I talk about when security is the object than most folks feel they never have enough by the way I will just tell you this Madoff guy who will love you no went bankruptcy for his Ponzi scheme just as last week many of the people that invested with him were multimillionaires but they didn't think they had enough can you imagine that you never want to get more money him crazy think anybody ought to know and the Bible is clear on this I will shortly Internet the first rule of investing is diversification you understand putting all your money with a madman you lose the whole thing even if he isn't sorry in being interviewed to get mad at them if you want your money so hoarding transfers are trashed away from God to our money and that's why Jay's is that it is difficult for a rich man to enter heaven he doesn't say is impossible was is is very hard and you can understand why this is valuable to know okay Ellen White states hoarded wealth is not merely useless it is a curse in this life it is a snare to the sold drawing infections away from the heavenly treasure but in the great day of God is witness to unused talents neglected opportunities will condemn its possessor I mentioned to send a few people before we started today that and I think I mentioned yesterday and not count as ostriches page sixty were told that as we near the close of time we should be divesting ourselves of our assets and getting our stuff in a little circle as possible guess what the what the reason is so not much of our stuff gets burned up at the end is not interesting enough you're smart to be transferring it over there were to talk about storing up treasures in heaven in the next session we all understand how important that is how should we get started I don't think I'm can ask you to raise your hand but just think about how many people here have a savings account with something in more than the minimum amount you understand what you can start with ten dollars a day any amount you can afford and don't touch it increase the amount is you're able to do that believe in what you doing if possible this is what Kathy and I do we actually have an amount deducted from my paycheck goes directly to the credit union because you see that you know you want to spend it but it is gone you don't see that builds up and then there's a couple times a year when we have to pay taxes and do things like that and we have the money in savings to do it that's the important thing okay so shall you guarantee the investment paying off credit cards and moving toward being debt free so if you are paying twenty percent interest on your credit cards whatever the interest rate as when you pay them down you're making that return on your investment guarantee there is no better investment of any kind of investing in your own death and is no more secure investment either you and your guarantee the investment return so how much is enough most financial professionals would suggest three to six months expenses however if you have a lot of data and your job is not secure if suggested three to six months expenses because things longer to find a new job three to sixty nine months if using because it may take longer to find a new job after layoff is occurred out by the way I will tell you we have a whole section of work and integrity and so on in the book it is my personal opinion I know I mentioned this already but if you lose your job don't wait until you can land prime job if you've ever dreamed of in your life take anything that's that's not sinful you know like being a bartender a belly dancer whenever you understand those are things that the whole point is all work is dignified there's nothing beneath us if we need to work and that's important okay one interesting thing to let me go on to this the fear of not having enough money to last during one's lifetime prevents that person from participating in excellent giving a returning opportunities during that person 's lifetime by the way I am a big proponent of present giving not a testamentary giving because if you do you're giving what your living venue known words there is absolutely no guarantee I'm telling you this as an attorney that even if you have a will that the money will go where you intended it I will tell you a reason him endlessly great hotel heiress died about a year ago leaving twelve million dollars to her dog in her will I was here where massage of me has happened now the interesting thing was what kind of dog needs twelve million dollars you understand and just recently a federal judge ordered the will to be broken and ten million dollars went to other charities that she boarded and only two million just to stay for the dog now the real interesting thing is there some guy was the caretaker of the dog he's really the one against the money understand but the bottom line is that will was broken after she died by the way kids or heirs who think they should've gotten more money will contest your will in court frequently so they can get more money the understand and what you if you get what you got your senses about you that's the really the best time okay but work can talk about proper investments that Ron Bloom and if you know Rob Louise worked with B Kevin Howard Dayton in many people 's evangelical of money manager he says decide the limits of your lifestyle out the reason he says it's important to do this because as our incomes and wealth increased we seem to find endless ways to spend or save or invest that money in this pushes the finish line further and further away so in both living and saving there should be a limit for example if your planning for your retirement you can do a retirement budget and say if you're debt-free how much would you actually have to have in retirement two lives comfortably and I have an idea let's just say forty eight thousand and put a big number of their so that's what four thousand dollars a month is that okay well let's just say that you get Social Security he worked hard and big-time job in the if you work for your full retirement age at about two thousand dollars trillion eighteen hundred six to seven dollars and eight cents or something but anyway what you need is two thousand more right are you going to the two thousand more well from your investments whatever that might be but if you say sell your house and not I'm just about the numbers therefore I know that the houses are expensive say Loma Linda or England or Washington DC illness places weren't very good about the markets way up there you can sell your house and use some of the money for your house when you buy a smaller house to live in with lower taxes during retirement but let's just say that you put a hundred thousand in a charitable gift annuity at your full retirement age now remember since God is the owner of everything when we're done with it what should we do with it give it back to him but you can give them everything that you need something to level right but if you use a charitable gift annuity for the charity of your choice whether specific in college or Loma Linda or address world radio or Adra whatever it might be you can then receive back about five hundred dollars a month for the rest of your life and when you die whatever's left goes to the charity that you choose so if you have four hundred thousand you could make the two thousand dollars or greater San Antonio your five hundred thousand five hundred dollars a month for you can get several hundred thousands of young four hundred thousand with gift annuities then you'd be getting two thousand month from that source we understand so why does anybody need millions to retire they understand unset undiscounted price frankly you do not need millions what you need to be as debt-free so you can live cheaper in retirement you can make all these great repayments on the café and that's been our people that live next near McAfee malware that making forty five thousand dollars a month on their houses that you know that you couldn't do that in retirement is not possible so you are ready to retire when you Jeffrey that's important okay and is also important to think about the amount you need to live on now the average family will spend everything they make no matter how much of this people event on the truth about that most people spend everything I make no matter how much of this data set what's my last company and how much I want to save and then beyond that once again you can start storing up treasures in heaven and everybody here knows how to do that you help others and to help with mascots cost those are important things okay remember the Lord your God were told in Deuteronomy I like Deuteronomy because it's Moses Lasser Ms. Israel after forty years working with these people for Ezekiel gives you the ability to produce wealth stewards must have investment mentality that is God focused in heaven inspired so do you have the proper focus that's the thing it is my opinion that goal in life is not to become a multimillionaire but to have your needs met have sufficient income to live comfortably and then be a channel of blessing that everybody may I believe that's important thing okay on the backup is to show you this upon rejecting Christ offered eternal life Jesus out of the Ridge Road became sorrowful why do you think you cried you know that it says I think I have it over here at lonely father of say what the references are but Matthew Mark and Luke all tell the story in which a ruler every one of the city cried when great sorrow because he knew he was trading eternity for his junk that he had on this earth that's incredible but it are you even would let go of it it just really quite amazing Jason says how hard it is for those who have riches to enter the kingdom of God it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God Israel this is a vacant chapter following that story people across words they were generally commented who then can be saved Jesus was simply say hey it's hard but not impossible for rich man to enter heaven and I think I'm there I read you yesterday Proverbs three chapter versus eighty nine were word King Solomon says give me neither poverty nor riches remember because if I'm rich that I'll be self-sufficient turn away from God and unfortunately no covetous of other people and so on so essentially have you needs met storage original rulers recorded in Matthew nineteen and Mark Canton Luke eighteen all three of the writers say that EF the young man had help the poor he would've start up treasures in heaven by the way what about the treasures in heaven Matthew six first twenty says they are secure there were to talk about it next session I am sure that you've never heard anything like what Natalia next session it almost seems sinful what I will tell you that God wants us to have treasures in heaven and have an account that is earning interest best to me very interesting stuff so volume through the testimonies were told every opportunity help her brother in need or to aid the cause of God in spite of the truth is a Perl that you can send before hand and deposit in the bank of heaven for safekeeping Alyssa been kept for DeJesus made the money God has made the money that your account for interesting those who really feel an interest in the cause of God willing to venture something for its advancement will find it assured safe investment some will have a hundredfold in this life and the world to come everlasting life now the interesting thing is this this is really amazing not all will receive their hundredfold in this life because they cannot bear it if you got it it might spoil you do you understand so you thank God that he's given you what he has if entrusted with much they would become unwise stewards Lord withholds it for their blood because their treasure will be secure but their treasury will be secure how much better it is such investment business now regarding heavenly investments Paul said to Timothy commandos were original presentation not to be hobby or to trust in uncertain riches but in the living God who gives richly all things to enjoy you can see the reference thereby whether all new book that's what you see the biblical focus them look at investment vehicles let them do good that they may be rich in good works writing this is continuing Paul's counsel Timothy ready to give willing to share storing it for themselves a good foundation for the time to come that they may lay hold on eternal life so here some investment choices you really only have three choices if you can save money and one of them is citing up in heaven and as the first one but that alter the person wants this one as we do this by helping others making contributions to invest the cause of God now here's the stuff you can do here earthly investments of which you become an owner with all these equities and that would be stocks mutual funds real estate precious metals farmland those kinds of things when you become an owner or part owner of it now the interesting thing is that if you own stock in a company is only as valuable as the company is viable the understand I let me tell you something that's not very many right now it's a real easy to see him but is not very fun to talk about if you own stock you could lose every bit of it with no and no law insurance at all is it true is now the interesting thing is that's what you don't try to make killings on things that are supposedly doing awesome because the higher interest the higher risk that you're taking very very important that you understand that by the way am I point out one thing here and that is this idea of mutual funds mutual funds seem to be a real good investment for it him because I have two good qualities and if I know what mutual funds to good qualities are diversification and national management those are the two things when I'm a clue what's going on but this guy on a know that's what he does for a living right the problem lies for a number of years mutual fund managers were churning people they were buying and selling their staff and charging them every time ago that you understand and something like mutual funds for many years and didn't even have any ring to show for it to be very very careful that you choose the proper manager or even the kind of funds this is really crazy now but in the past we are to say an index mutual fund would track the stock market would be a good idea until you what just recently happened with about forty percent of the stock market that this is amazing stuff and people always say well you know you're in this for the long term so just be patient if your company goes out of business in this patient if you want to but you just lost the money that's why you have to diversify so theoretically not everything you're invested and will go under a one-time okay I remember this one this one is when you become an owner and the next one is when you become a lender and these are things like savings accounts at banks and credit unions and certificates of deposit now let's stop with those right here these are traditionally the things that have the lowest return as far as the percent is natural now listen carefully however they are the only ones that are insured by the government of course the government is eleven trillion dollars in debt as you understand but the funny part about it he has it is the only one of the entities out there that has the unique ability to print money so as long as your FDIC insured it was typically for years hundred thousand dollars per account annual husband-and-wife could have what do thou send a man convey busy to have one-to-one to the joint account season three thousand there but just recently that because of the economic bailout whatever you may call a stimulus package and so now it for until January one of the next year it can be two hundred fifty thousand MS FDIC insured the insurance companies now it will wear in a very unusual time I'm only explaining this to you and I'm not recommending anything however I will tell you that as you grow older conventional wisdom is that you move from equities more to the lending position the understand so that you have input institutions have money that you can count on to come back a man and his wife in their eighties called me less than a month or so ago the lady called and she said no she's another resent you and I said yes you would you mind holding Internet as you said Harry get on the phone this Alvarez so they're both on the phone different lines in the garden explained to me their unique situation they were living in Washington state and they are a hundred thousand dollars in Washington Mutual and I have this hunch the whole thing was going to implode as you know Washington Mutual was the largest bank in America ever to fail now the interesting thing about this is really incredible she said I think I should go today and draw all our money out and put it under the mattress what would you tell her well the real deal is this if you have money in invested in the bank like your bank 's stock you should really be worried to understand but if it's deposited in the bank and FSC FDIC account it still safe most of time three business days later the monies available to you some other company in a buys the assets in the law and somebody don't does the liability business and so on so I know to tell you him tell the whole government and the whole world it seems as an confusion still I would say the FDIC things are the best investments you would by the way you know that just about a week ago the government offer some treasury bills at zero percent and they were all sold out why do you think that happened is to preserve the principle you don't want to lose any of that stuff this is important I'm telling you so I'm now what I'm than I say to you is this kind of a confusing mess out there but I would choose being conservative overtime to make a killing the understand that's the point okay so here's some of the things that are very interesting typically corporate bonds or government bonds now the government bonds may have insurance and you can check on that but state and local bonds for example if you have California bonds what's the state of California and right now we're talking about Arnold Schwarzenegger on national television pleading with the government 's bailout California you understand if they went under by the way the whole lot I have a speaking invitation to put Iceland and you know that when the when the stock market crashed Iceland the whole country went bankrupt the whole country this is incredible so you just think about the enemy investments over there goodbye and let me just tell you something interesting if you are saving ten dollars a week or little bit you have a savings account even save another twenty five thousand unite up to your twenty five thousand dollars and then you lose the whole thing back to become a depressing and you understand it really can be really really serious so what you're wanting to say is get out of debt pay your debts off no better investment even if your house devalues to the point of one dollar you have a place to live the understand that's important okay so these are the kind of things what are the three soaring up treasures in heaven and you do that by helping others having against the cause of God or you have equities for ownership positions for you have lending positions so you're not given the bank hundred thousand dollars if you put money in the bank you're just learning it to them in your expecting interest and your principle to be preserved for you that's the whole point of okay here's the important thing the great return being offered on investment the greater the risk investors taking whether you believe that or not where they tell you were not it is always true this is very important so some people now who know that are willing to go for zero percent you understand just to note protect the money that a lot of you are very young people so if somebody is crucial for you but when you get my age you know you live long enough to earn it back again if you listen if not to get me very very prudent in how you do that so here's four levels of vested layer briquette used to recommend this often priors a Christian he actually wrote the foreword for the book your call sound money mind investing by Austin Pryor and I want to show you he is a Christian author and investment counselor and against four levels of financial fitness in this book sound mind investing these levels suggest a progression of investing our show you what they are here by the well this is in the book but it do not plan to get a bulk e-mailer jot down here they are level one believe it or not is what I teach I been teaching for many years become debt free including your home the only proper foundation for investing is to be debt-free nonstop here to tell you this if you're employer gives you matching money in your 401(k) or four three B whatever it is your tax-deferred instrument you always want to work to contribute to get the maximum match he understands me know might nobody smart enough to not show up three money you understand if you getting free money to all you can get that is as incredible level of what what bosses will what do you golfers here are different Heather is a strike Davis love the third one is a professional golfer and he was playing in a tournament one time and on the par three you obviously limiting occupancy up your ball and so he said he was playing with Ben Hogan and pictures there is bald on the grounds can use in our district off the ground and up to the new Park Street green and then looked at him and he said were shooting this is automated tape he says nobody is a good enough golfer not community of eleven music so you always can use it there you understand the whole point I'm trying to make is you have to understand nobody is smarter than getting out of debt you have to do that that's the point okay and of course I can I wish he would also say use credit cards properly that means not paying them off every month and pay off your house remember that the people that tell you don't pay off you have to knew the interest deduction on if that's your CPA what time is time to get a new CBA every minute you know by now that it is not a bargain to spend a dollar to save a quarter now another thing as our Dave Ramsey say this the other day says people are just now waking up to the fact that you don't become a millionaire by getting points on your credit card you understand okay so prior also states keep this truth in mind no investment is as secure as a repaid death putting your desire to invest ahead of repaying your debt obligations is usually a sign of immaturity not financial sophistication this is notice work on harping on this one thing this is the first point here okay level two saving for future needs develop an emergency savings fund should you have in the emergency savings fund will you talk to current economy sixty nine months not of your income but of your monthly expenses do you understand and that we should be in something as illiquid asset you would want investment in real estate for example would you want that in the scene they are in your credit union or something developing accumulation fund for expected future purchases and expenditures such as taxes for paying cash for your next car by the way I would've done tie something interesting if you finance your car it really doesn't matter a lot to you how much it costs as you can make you know three hundred dollars a month for six years whatever this but if you pay cash for it makes a big difference it off I have twenty seven thousand dollars and I'm looking at a new Toyota Avalon have to say do I really want to spend all of this on a car these you have say you do it makes you really act differently when you pay cash for things by the way of those of us to pay our credit cards off every month studies show that you will spend more if you use a credit card even if you pay it off every month is not amazing so there's a lot of electronic stuff going on now but just think about that because it's easy to do so will go on here the level three of investing is investing your surplus learn about the various types of investments these are the words surplus .org everybody spends what they make the Bible actually indicates that if you are following God 's plan you will have a surplus doesn't it Malachi the third chapter verse ten says bring all the type the storehouse and probing on this if I will not open for you the Windows 7 and forgot such blessings that you don't have room enough to receive it if you don't have room enough what do you have a surplus more than you need and I was like the next verse Ando said God says I will rebuke the devourer for your sake I love them I would give the devourer for your safety says well you will know I'm here I'll spend time learning about mutual funds or other investment things understand the value of tax deferment and tax consequence of financial decisions that you make okay let me give you an example of this if you're an older person my age or older and you thinking about giving your property to your children if you were to give them let's just say a something valued at hundred thousand they actually end up with your basis if you give it to the Mensa gift do you understand let's just say that I have a hundred thousand dollar piece of property and allocate ten thousand four so if I were to sell it now I have ninety thousand dollars worth of capital gains that is subject to capital gains you understand but if I were to leave that to my sign in a will that passes by virtue of inheritance then he gets the basis as the current value when it transfers so it's all he needs like he paid a hundred thousand four to develop the next day for that amount and not pay any capital gains this is important stuff that you can what we have in the book you'll be in the sea and by the way there's all kinds of stuff in the book I don't even have time to talk to you about this for weeks get the whole chapter on retirement given that most of you are thinking about that but I will just tell you that there's a lot of push for reverse mortgages and long-term care insurance all that stuff we discussed that in the bookmobile to see black people push these and that's what they're there lack of value to you so level force diversification for safety what we mean diversification through diversification yet not on the same basket now you understand Enron is old history by now the butt when Enron went under there was a mandate when he was in time magazine featured in Time magazine he lived in Washington state was about a year and a half from him that he had actually worked for Enron but he had other assets of the index of this on but he was doing so well with Enron had taken all of this stuff out of the others but all in Enron he figured that he was worth ten million dollars and so he had hired an architect started building on his retirement house in the minds of the new Chevy suburban in on the eighth just you really think about all this is that happen when Enron imploded and his and his Enron stock was selling on the Internet for thirteen cents a share he lost everything his thirteen dollars thirteen cents a share which total about nine thousand dollars value that this is incredible people just never learn that diversification is very important don't have all your eggs in one basket that's important thing so you understand know what you want to a conference with your investment portfolio let's set a goal by the time I retire I want to have a certain amount to supplement my Social Security by the way are you likely are aware that some fifty percent of Americans who are now retired live solely on Social Security and almost all of the people will retire in the future are really not prepared financially for anyone that on Social Security are under the poverty level in every county where they left this is incredible when you think about it so you have to have some other source and of course being that phrase important part determine how much is enough and this is really really valuable because if you don't have a set level it's what you say we get going thus the hoarding partnership and then of course but at the risk of our talk about that one okay the Bible encourages diversification now when you read through this is really amazing cast your bread upon the waters were divided after many days together serving to seven also to aid for you do not know what you will will be on the earth is not incredible this is when you cast out but it is seminary different places very amazing that's crazy I see now yesterday I talked about to get rich quick schemes I'm just a mention it briefly and will go on to other topics the Bible says in Proverbs twenty one the plans of the diligently surely to plenty but those of everyone who is hasty surely to poverty the get rich quick schemes this is very interesting stuff when you're safe investments are earning less than five percent hello to today you understand and someone comes along promising you twenty five percent it's tempting to indulge it is also very devastating when you lose a large sum with such investors as the Madoff case with us what's happening right now too many many people and that the crazy thing about it if you've been lessening the news last night and this morning there were people who should have known better with money with this guy were talking about university trust funds and charity reserves and so on this is incredible the people that lost money with Scott because they thought they could get more than market value an estimate is just based on grade as you know so I don't usually have country music in my stuff there but my secretary found this as you put it in your timely advice and from Kenny Rogers classics on the gambler you got a know when to walk away and know when to run MS when you see these get rich quick scheme guys remember what they are until yesterday 's audition show you again real quickly most of the get rich quick schemes have four elements to them verse one promise of wealth quickly high interest rate returns those are the one of them the second one the investment something you don't really understand this is amazing I wanted tell you about this one believe it or not I actually am quite a good auto mechanic and I've I have a hobby I'd did when I was in law school of buying old for tractors and take them apart and rebuilding them just as a hobby now selling for profit typically at any rate so I'm interested in in the automobiles so I I one time in the city where I was living in Georgia I saw that there was going to be a a guy demonstrating his invention at the Holiday Inn banquet room and I went to it and this guy had a little device that he was producing and I can still remember the name called her back and it was in the days back when Carson carburetors instead of the fuel injection we have now been anyway in the intake manifold are your carburetor since theoretically could lift up the carburetors and put this little device is real thin thing in there and it would double or triple your gas mileage now believe me who would not want that even back then when gas was only like a dollar a gallon industry so the deal was that if you invested in the company you would be guaranteed that he would have protected rights in certain counties like if you're Loma Linda examining account which is likely the largest County land wise all United States you get into protected territory when you're going to be the distributor there so after I heard this I went home until Kathy Bassett man we got this awesome opportunity and she's what is and what try to describe in general Brazilian army of them working presently I said no but he's is a prototype and you always have some out there and she says wow to stop the company about this deal actually does yesterday you were here if you're married God gave you your spouse to keep you from doing stupid stuff I do understand is it would've cost me about ten thousand dollars to get into this mess at any rate it turns out I didn't get involved thank the Lord for Kathy but I will just tell you busy at all as a mechanic I would been able to really make a killing on this but at any rate they were never developed that's very interesting is not then another one you have to maybe you can afford to lose I don't get off the retired man who was irate I has his house to get money to get into a get rich quick schemes those are things like to get a second mortgage original line of credit on your house and here's the one is really interesting to me you have to make a quick decision so the guy says you want these two counties only to be killed tomorrow morning have your money it almost always has that you want to get on the ground floor it until Monday that's that you understand you always have to do something quickly and usually immediately doubletime hardly to ask your financial counselor any of your friends about it very interesting okay now is investing gambling what you think sometimes it can be it almost seems like it but there is a difference gambling lotteries track betting or other games of lives the word right here chance are not part of the Christian 's life no room for those things Lori found a couple of lottery tickets pictures on the Internet so she stuck them in here and I had told her there's only one worse investment than buying a lottery ticket two by the way if you buy a lottery ticket if you are looking on the Internet or anywhere your chances of winning are one in twenty nine million that means for every person that wins something twenty 's what is at twenty eight million nine hundred and ninety nine people just lost their money in addition almost all lotteries are won by four people hoping to get rich you understand but the other poor people that bought the tickets lost their money is very very interesting in the Washington Post I live in the Washington DC area just a couple years ago and not in the magazine section there was the story of Jack Whitaker who about eight years ago won the Powerball sweepstakes after the taxes with I hope he got a hundred and fifty million dollars him taxes is one of the largest payouts in Powerball history of America he was a guy living in West Virginia it absolutely ruined his life his little granddaughter that he is about size made it was a pride and joy of his life when he wanted when he won that she was like sixteen and in college and high school you know fresh letters sophomore something anyway he bought her a Cadillac Escalade which is like suburban or tall holding an old Cadillac version of it usually there are these real pretty pearl colored solid anyway she's the only girl in high school quantities so immediately just lots of friends you understand this would've thought about the Dragon in her car at any rate to make a long story short she fell into a drug crowd overdosed on drugs and kill herself and so did her boyfriend the same night Jack Whittaker left his wife and became a gambler and within two years lost everything absolutely incredible the people in the state and in the city where he lives that we all wish he had never won the money I would like to ask you to show me a person whose one gambling money that their life was better by it rarely happens so I was going to try to think about that okay here's the lottery facts by the way that administers is not involved much in politics but Roy Adams is one of the editors of the Adventist review road out editorial recently in the review and he was talking about in Maryland we just had the proposal to have what is off-track betting of slot machines in Maryland and out you know why I personally voted against it but it one so they may have it now the idea is that it's going to go to education you understand but listen if you're the man who does the budget for the education in Maryland given a set aside question seven number two hundred and fifty million dollars well if that's all coming in from gambling then you can use that money for something else in the budget we understand rarely does any education system get better because of gambling but more underworld people crime figures and I was given your states and by the way guess who gets the largest portion of the gambling earnings is not the state is not the education it is the guys who are promoting the understand this is always the case various at eleven to tell you something else is wrong the West here many of the Indian reservations of them casino gambling it rarely gets down to the Native Americans the people were skimming off the top of the guys who promoted build the buildings and all that stuff is it true you understand there's some benefit but you know at what cost that's the point the lottery praise on poor people giving them a false hope of winning now as an attorney I can tell you that nobody can can declare that you're incompetent except in a court of law because sometimes your family members may say what you lost your mind I wanted to clear you incompetent so you can handle your money anymore so so people can't do that it has been under court of law the only incompetency hearing that I've ever been to where I was the attorney representing the families of the Carson but incompetent was when a man had gotten so fixated on winning the lottery and the publishers like us which they see what he bought every magazine that was available back and his wife and youngest of every money they had but I know when this lottery he thought no that was the last thing he did he would just fixated on that very incredible so you have to this is this false hope of winning most to win are generally uneducated working minimum-wage jobs most window lottery lose the money in a short period of time to poor financial management and they are often unhappy in their lives are ruined so just the proper uses of money yes so here's a different when gambling and investing gambling is taking a chance are betting on an uncertain outcome investing on the other hand is buying stock in a good company form you become an owner on the other hand is committing money to earn a financial return is in expenditure for future benefit your manager so there is a difference but it by the way if you're in the end not speculative things like futures for example me that is highly speculative and it would almost regroup virgin gambling in my opinion so here's an investment strategies twelve of them and I hope that they can now be valuable to you remember this is from a Christian perspective except Christ is both your Savior and Lord what I'm telling you this for is you have to understand whose money you're dealing with this is important to understand what a investment strategies pray for divine wisdom and help from the Holy Spirit Avenue let me to show you most one of my favorite passages and violence problems for chapter and that would be very appropriate right here Proverbs chapter three where the incandescent in the words of the wise men he says trust in the Lord with all your heart and don't depend on your own understanding in all of your ways acknowledge him would that include the management from money sure and then it says something interesting if you do that he will direct your paths don't be wise in your own eyes fear the Lord depart from evil so that's what I'm telling you it is not inappropriate to pray about your finances because God 's providential leading content directors in there and then studied the Bible for principles of money management did you know the Bible says that you should not pray for Bob you don't get me wealth or poverty illness cousins are diverse and eight ways when there's all kinds of things in the Bible about that another one work with integrity and excellence this is very very valuable on the hotel you are self as if whatever you're doing now is not bringing insufficient income there might be a valuable time to retrain yourself to do something that you can make more than this is interesting because nobody is too old to go and get more education and I went to law school when I was forty years old and I will just tell you we'll make more money in their shirts because you get more education you understand about them do it for that what is the real value to me to have the information and be able share things with people so I will just tell you it you can always learn more and you can you get if you are in computers and certification grade level zero go up about half and then people are making very good living doing that so develop a help a heavenly mentality by the way if your treasure is stored up in heaven every day of your life using closer to your treasure is a startup on earth ever get elected and moving farther away from his brilliant amazing and then I put give tithes and offerings really that we should be number one put God first in everything this is a valuable remember I gave you whole session this yesterday and I make no apology for ideally from a Christian perspective the very best thing you can do to get your finances are even geophysical God first this is really amazing stuff to me it doesn't make sense from a CBS perspective but not anybody's ever done it I'll give you no stretch of this we decided several years ago to try to collect testimonies from people who would been faithful to God and their ties and offerings and we wrote letters and we had a hundred and fifty people respond one of them was was my own testimony but at any rate we are hundred and fifty people and we printed a book called over and over again so he's enough books anyway volume one over and over again we we set up the conference is in a box on the net anyway since we free sold ninety two thousand four they were printed were able to print them for two dollars a book so they were sold for most like a twelve dollar sized book at any rate the recent the story once that I forgot out there people started spontaneously selling and sending us more stories and we printed another book volume two of over and over again from unsolicited stories people would say if you think your stores regular docket for our family it's amazing stuff and so we get more things that way and by the way which I read print volume three and that the sergeants keep coming you so is it really amazing another one is include savings is a regular part of your spending plan and other when you have your budget make sure that you put aside money for savings by the way is interesting how when you register across the online says that when you put money into savings it should only come out for two reasons one of two reasons in what they are for it when you're suffering actual emergency board to make a contribution to invest the cause of God very interesting to have some savings you know you're ready to do something another one is to become completely debt-free sometimes people send you only have one string on the guitar you can find that one string and doesn't even make harmony and audiences get out of debt get out of debt get out of debt but at the breakfast table where I was getting this morning we were talking about your current situation I actually believe I haven't talked about this in public before but I will just tell you guys since you're not public mostly recorded that anyway is big lastly what's going on out there I actually think they were seeing a historical event kind of repeated if you read in the book great controversy mail and what about pages thirty to thirty six as document the destruction of Jerusalem in Matthew twenty four Jesus told the disciples Wednesday the Army surrounding the sitting time to get out time to get out so that Christian people when the Roman army surrounded Jerusalem left the city when the armies for some unknown reason left you wondering about when Titus came back and surrounded the city they would not surrender he killed everyone inside him billions of people lost their lives but no Christians this is amazing so what I'm telling you is where having a wake-up call right here I think that God is allowing us to see that things are not but alas forever and ever so my becoming get our house in order to understand what you can to do that that's what I would say okay and then now learn what you can about money management with mentioned that before I think the book that we have will be a big help to many of you prepare and follow an investment strategy the very conservative under the circumstances and develop a retirement plan not to tell you something interesting this is important I believe what I'm telling you I believe as much as anybody in here that we are likely the generation that will see the literal second coming of Christ had to have written five books on eschatology seminar study this stuff I understand it and I know where we are in the time I persist to not know what to see what I see signs out there but I will just tell you Jesus occupied till I come to understand when it's time to sell your house God will tell you if you put it on the altar the interesting thing is were told Ellen why could give stewardship sermons like nobody else they can be legitimate storage of jumping would flock to the front of safe can I sell my property and give the money to the cause whenever I sell the house they live the you understand your water response was always if you have houses and lands in the Florio more properties sell what you don't need to live in and put the money in the cause but do not sell your residence until God tells you it's time is not interesting God can bring a buyer even in difficult times I believe okay another one is the prepare your estate distribution documents discovered really interesting that you work your whole life getting younger kids educated near school loans paid off for now straight off and all of that just the twentieth retirement they start going to start giving it away is not incredible numbers continue with the money member of our told you this even if you don't believe in God you okay with you your feelings on that cemetery or something to figure understand the nonentity with you is important okay now that it on your godliness with contentment is great gain for we brought nothing into the world and is certain that we can carry nothing out now what about what the future holds I will show you a couple points here there is a time coming the Bible says in Revelation thirteen seventeen when no man can buy sell I don't know if you understand what this means but I'll just tell you I've done a lot of real estate transactions and I can just say that if you think your house is worth five hundred thousand dollars as on the market for six months it doesn't sell what's the problem is priced higher than the current market it might be valuable to you at that level you understand what is higher than the current market so typically you can come down twenty five thousand and fifty thousand whenever an likely sell your house right what if you could not buy or sell and bring it down to a dollar and no one could buy your house do you understand there's a time coming but this national ruin comes after you understand national apostasy UNESCO be interesting to see what happens so I was just recently about three weeks ago speaking at the village church of variance friends would allow churches and Andrews University area and the last time I've been there I was teaching at the seminary for a week summer intensive this summer and that week that we were there in the summer the heralds Quartet making sales were at the village church Sabbath afternoon so we went to him saying and of course they have some new songs and everything but they like to sing old songs people really love those and one of the songs they sang is if you ever needed the Lord before you sure do need him now this is not a time to mail him God understands he is the creator and sustainer of all of us you want to be on your own is like jumping over the ship that's the point okay the time is coming selling price Ukraine will send a fourth prohibiting men from to buy or sell any man save him the half the market-based nest testimonies now here's what a lot of several of you mentioned this to me already this evangelism page sixty three Pyrenees that is now so sparingly invested in the cause of God and that is selfishly retained little while been cast with all idols to the moles into the Baptist money will soon depreciate in value very suddenly when the reality of eternal scenes open to the senses of man now this is not what's happening right now we understand that this is important to understand when my depreciates the very suddenly and value its wit and originality of eternal scenes opens the sense of math the problems we have now are based on grade the understand the when things get really bad with natural calamities and all those kinds of things you understand then people will say money is ultimately much more valuable to us and all that's what it's talking about here I think the parable of the talents in Matthew twenty five by the way what are the talents anybody know Ellen Weiss is the temporal assets that God gives to us money it's not your daughter speaker teacher sing a song Nice USA it is pallets those of the monies shows us that we are each entrusted by God with different financial assets gifts and opportunities and we will be held accountable to him for how we invested them in this life so I will show you a notice really well all this time no this is that the nine nine thirty to ten thirty p.m. is there somebody else can have a seminar here in fifteen minutes and that's me and so we can have the membrane between down there so I got a get as far as I wanted to go here but I will just tell you that what will happen in the sorry for the bundled slow here for their prayers with this message and then you come back if anybody is if this is your fourth session you can see Kathy Beckett Hefley back in the in the rinse your assembler heavenly father Alan thank you for the privilege we have living together again as a group here and you are CR privilege of Leslie presentations your glory mayor hearts and minds be open to a better understanding and practice of biblical principles of money management in Jesus name and will this is my audio over as he was generating you would like to learn more about G1 please visit .net on a done life back on the board like this is more a online service in WW audio versus nonwork

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