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Managing Business Finances in the End Time

G. Edward Reid
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G. Edward Reid

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

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  • August 6, 2010
    3:30 PM
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my father we thank you for the opportunity have to be here in ASI we thank you for the privilege of knowing you and of understanding your plan for our lives separately bless us as we look at business finances in the end times today in Jesus name and I'm actually give you a few minutes of introduction and then not even helped with him down inappropriate thank you I will show you a couple of Bible verses in a couple spread across the quotations and then will look real quickly the situation were in today the Bible actually talks about in the middle James the fifth chapter in also seconds into the third chapter verses one to five about money management in the end times of this one a second Timothy the third chapter know this in the last days perilous times will come from and will be lovers of themselves and lovers of money you think that describes our day-to-day lives incredible when you think about it it was reported in the Washington Post last year that the average professional person with a Masters degree or more makes about a hundred thousand year and in forty years of working at that rate you would make about four million dollars note this is not a big deal over your lifetime except to say that during the financial crisis many bankers on Wall Street got forty million dollar bonuses which is ten times were professional earned in his entire life that's the fulfillment of this without in question is incredible when you see it so it says lovers of pleasure more than lovers of God having a form of godliness but denying its power from such turn away and this is a statement that I found in the thirteenth of page thirteen of all United testimonies there are not many among educators and statesmen who comprehend the causes that underlie the present state of society those who hold the reins of government are not able to solve the problem of moral corruption now lives to give you an idea about what our current president of president Obama was choosing his cabinet at least four of his nominees have not paid their own taxes included our current treasury secretary poverty puffers and increasing crime and then this is one that's so amazing to me Ellen White noted they are struggling in vain to place business operations on a more secure basis nephew struggling inventor you can be successful so how many more billions of dollars is reporting the stimulus to Youngstown and tell you in a few minutes you see something amazing really but the reason that were here this afternoon is if men would give more heed to the teachings of God 's word they would find a solution of the problems that perplex and so we want to look at what God 's word has to say about I found this interesting statement the book evangelism page two forty two forty one poverty is coming upon the world and there'll be a time of trouble such as never was since there was a nation of this is amazing you understand that the entire economy is tied in together don't you it's it's pretty incredible when you think about it now just found this one by the way this is not necessarily academic reference that AARP bulletin but they were talking about the president has just put up a committee to study what to do about the economy and the problem by the way don't recommend from AARP primarily from my perspective it is organization trying to sell you insurance and that's about what it is but anyway in the simplest terms the federal government is spending three dollars for every two dollars it collects and its borrowing the rest what family budget or what business I had can possibly survive on that formula the federal government can either and then by any measure the nation is on an unsustainable course that is more perilous the longer it goes unaddressed in the washing well let me just point this one out to the US national debt clock get on the Internet of the national debt this clock comes up and as of July twenty nine two thousand ten when I got this one off at twelve fifty seven and forty five seconds p.m. British meantime is thirteen trillion two hundred and sixty four billion and on this is the national debt notice the bottom line the national debt has continued to increase on an average of four one two billion per day since September twenty eight two thousand and seven so if you put this up this thing is going over and over and over this gives really is is incredible it is estimated that the budget deficit will triple in the next month triple double and sorry double in the next ten years which is really really interesting so the Washington Post David Washington 's habit of spending today the money and hopes to collect tomorrow is getting worse and worse it even has elements of a Ponzi scheme me you cannot borrow money to pay your debts and expect to be rich at the end of the day is that true you can understand the situation when I was a general conference Elder Falkenberg talk with me briefly and he asked me he came to me and asked laces you need to write another book on running that's what people know what's happening in the world today and he recommended this book some of you probably read aloud on the Internet about three fourths the way through it called aftershock is very very interested most of us are aware that there are in our financial economic system in America we have the cycles you know we are not up the bear cycle in and out will cycle etc. but we are no in the cycle things are changing and they will not be like they used to be heard by this understand that in this book actually says that within two or three years at the most things will be much worse than they are today this is not a political book is not Democrat or Republican is just economist looking at the economy called aftershock and the principal authors R Winn immersed David Weber PhD and his brother Robert I'm very interesting book I also want to go on here and I will give you a couple of other points the plunge in stocks and real estate has reduced Americans net worth by Estes standing fourteen trillion dollars in the last two years about hundred twenty one thousand dollars per household in addition research shows that the typical American has so little set aside for retirement that meeting basic needs will be a struggle now retirement is a big deal because I want to give you a statistic that I know is a true statement is this starting next year two thousand eleven the baby boomers will begin reaching their full retirement age I'm in that group I will reach my full retirement age next year when that happens there will be ten thousand Americans reaching full retirement age every day of the week for several years they understand what that will do the so security system because the people that are still left working are primarily new immigrants that are working at minimum wage understand so it's very very serious situation when you look at it from that perspective so I'm an attorney so I was can ask your question I would ask in the chorus I was trying to swear in an expert witness can we stipulate that his agree that the economy is in a mess okay and the second thing a way to stipulate as they were living near the end of this world 's history as we know so if we had that in mind than what I would tell you from here on is to make a lot more sense to signal you make something about this I recently did a series of sermons on given a number of cabins called the certainty of the second coming of Christ never heard those I would recommend that you get a set somewhere and you'll understand that it is very likely that we are the generations of the literal second coming of Christ so my title is not a catchy title it is a realistic title how do we manage them in times and so that's what I will show you okay were ready for the handout now what is give every family at least one of these I made plenty I think what I would do is give you the name differently speak before so I do listen this one is a list of how many do you think I have on seven seven things to do financial protection checklist so we have a couple of people handing these out and not associate one word this is not the whole program I will try to do this in about fifteen minutes and then you can turn it over and make notes on the backside is only one side has printing on so I want to get started right away the first one is to put God first in your life and your business now this is not in the thing this is the realistic stuff so while their handing newspapers I want to tell you guys a quick story I was traveling on your cell go from Chicago to Montréal and night flight evening flight and most of you know that most of the airlines they are every seat is taken with Captain I came down here yesterday every seat in our plane was totally full it is incredible that the amazing thing was in this particular case my flight from Chicago to Montréal was one of a small jet in only fifty seats and the seat beside me was not taken when the door closed so I thought to myself I can spread out a bit in Canada relaxed and said all of a sudden chickens are running up from the back and sat down beside me and it's kind of funny because I was truly great people and someone is awarded to come from design the him but his luggage around me or anything and he said if you don't like flying this is the refrigerant will be about twenty centimeters really what he said the flight attendant said we got to sit by you so I can help balance the load this is really true at any rate he was a little bit miffed that he had come sit by me not because it was me necessarily because you are you still do stuff in the back yard overhead and all that in his code and everything and he would have to go back there be one of the last people on the plane to get off anyway I ask him what he did and he said that he was blind Montréal which he did I think every weekend because his family lived in Madison Wisconsin he was a fourth-year resident at McGill University medical school in Montréal and just about to finish his residency and he told me they had an autistic child was crying special-education thing of medicine Wisconsin where his family lived through the week and so on and the bicycle bells and everything and then he asked me of course what do you do and I said well I'm going up to speak the bunch of pastors about money management pieces thank God now I know I'm sitting beside you are doing a half hours to straighten out my master so I'm not a tell you what I told him first I said several years ago I was scheduled to speak in the skin down near Atlanta for a big convention you like this one and on Wednesday before speaking the weekend I got laryngitis I could not speak and so I went to my Jewish physician Doctor Michael Leibowitz must adopt you can have to help me exit was a promise I can talk and I speak this weekend so this is really interesting he said to me I bet you like me to give you a shot or capsule or something to make you well would just that that's exactly why I came here he said to me this is real interesting notices because my first things that they had I could do that for your product feel better psychologically but the best thing you could do would be to get a glass of water as hot as you can take it was insulted and garden with that and do that like three times a day if you do that by the beginning of the well I did and I was so I also had a similar experience in India but I'm just tell you this I turned to the doctor sitting beside me this young physician I said do you think he gave me the right remedy this is all sure so I said to him you want a shot at the gargle treatment so I said I have a so I had already determined that he was a Christian and he had read his Bible through once he thought anyway I said listen I'm an attorney I'm a financial counselor and I make my new work full time teaching people about money management the very best thing I could tell you to put God first in your life very best thing I can tell you how it's you this before and will further enhance there is no recession in heaven and God is not broken if you're his partner you won't be broke either in I believe that so will go on now here's a couple make a couple statements you see these in your papers there the wise man's counsel is still valid honor the Lord with your possessions and with the firstfruits of all your increase so your barns of the film with plenty and your vats will overflow with as Proverbs three ninety ten you can also see that but the reference there out Deuteronomy twenty eight one to fourteen and also I have nice testimonies two forty five to fifty two now listen carefully within the next the devil would like your finances to be all messed up your marriage messed up your career messed up and everything but that's a fair statement is what I want to tell you now sincere honest people will try to dissuade you from being faithful to God I'm with you and by the way almost everybody that gets involved in a get rich quick scheme it loses a lot of money were introduced to to that it restricts witness came by their friends who sincerely thought they were doing them a favor business Journal so somebody comes to you I'm not Italian I don't have time this is not a sermon on tithing but any question you could ever have about tithing is going to answer right there nice testimonies to forty five to fifty two you cannot ask a question about tithing that would be answered there now remember this is in the testimonies is a statement golf faithful stewardship Ellen White gave it to the California constituency meeting its incredible information any question you ever have is answered there and people will come along until you well know there was somebody claiming their property or so ago and said that if you return your type of the church were there you know standards are down in there doing all kinds of stuff and churches on God to hold you responsible that is not true at all this plane is very positive you do what God has to do he will not hold you responsible if the brother misused money but I'm scared that we don't find the statements I made and have it later with a lot Jason South said but seek first the kingdom of God and his righteousness and all these things what's the context food clothing and shelter fences I know you need food and noting a club in a job you put me first I'm particularly family that's important stuff all these things will be added current economic conditions bring to mind the words of an old song if we ever needed the Lord before we sure do need him now it would not be a time to bail out on God I can tell you that for sure so now is the time to trust God that he will sustain us and provide for our needs Ellen White noted education one forty five no scheme of business or plan of life can be sound or complete that embraces only the brief years of this present life and makes no provision for the unending future second point readily quickly down to these I hope so lots more to tell you about after that make plans to get completely out of death now this didn't have a note in the past to make my with other people 's money I'm telling you from my perspective get out of debt this is important start by paying off all your credit card debt and all variable rate deaths younger set a variable rate type thing madness by what almost everybody lost their home of the subprime mortgage at a variable rate incredible amount which I had time to tell you about that situation alone but a right to have a yard sale sell off all the possessions that you don't actually need sell collectibles are other values as don't have that don't have seven of value to you they'll bring more now than they will later if you have a variable rate mortgage converted to a fixed rate is below five percent now as you know if you have reasonable credit and then also set up a plan to prepare your home mortgage and any other business debts what should you what time is that I asked this question on your home seminar what time is it if your CPA tells you not to pay off your house you need interest deduction time to get a new CPA is very very simple and I'll just tell you we ought to know by now that is not good business to spend the dollars into court do you understand your best bet is to be totally debt free very very important especially when we know for a certainty that the economy is going to tank worse than it is now this is really important to know third one is spend less than you earn now the reason I say that is because almost half of Americans spend more than they make every month very incredible we decry the government state that debt of over thirteen trillion and the bailout of banks at seven hundred billion but Americans consumers are equally guilty of overspending the outstanding credit card balances that is the amount that's unpaid and carried over from month-to-month numbers you pay the minimum payment whatever in the sums unpaid is now over nine hundred fifteen billion in the United States every month that much of this paid interest on incredible the principle here is the content with what we happen to learn to live within our income presently about forty three percent of American families spend more than they earn each year in my councils don't be one of those people live within your income and here's another one number four four is save some money at every pay period or income time of your in business in your breakers are more random outgassing I have money taken out on the gases ten or fifteen percent every month or straightaway to our credit union to work taxes can do any other thing that we are probably of the money there to do it using websites as you have a new checking account is what most people do with it spend it out so here it is those that followed the principle and have at least six months worth of living expenses in cash savings in the bank are much better shape than those during their savings account provides protection when there is a job loss car breakdown health concern or other event that could hurt your financial security is a little nest egg idea this is a four oh four help you weather an economic storm not put a statement here is starting right there is a quote from spirit of prophecy and Ellen White stated to have been his home three ninety six you might today have had a capital of means to use in case of emergency and to aid the cause of God if you economize as you should every week a portion of your wages should be reserved and in no case attached unless two things the first one is what you're suffering an actual want there's some kind of emergency or to render back to God the giver in offerings you know that that's the amazing thing even if the contribution of God 's cause or if you have an emergency in your own situation now here's something that's pretty amazing do everything you can to keep your job if you look on the Internet of the Bureau of Labor Statistics of the federal government they say that and eighty one nineteen eighty one for example thirty percent of American workers had to spend less than one year on the job which means that people change jobs last year it was several years back to three years ago about twenty percent of people change their job and most miserable upper mobility things you what it was last year less than two percent of people say that I hate my job I'm not putting for anything I'm glad I have a job the understand this is important stuff to do everything you can to keep her job or keep your business going the Bible says do you see a man who excels in his work he will stand before kings it will not stand before unknown men of course as Proverbs twenty two twenty nine there is much said in the Bible about integrity and work ask God for wisdom to do your work efficiently so you'll be able to continue to work in these hard times now many of you probably are not in a position to use this next council but if you should lose your job be willing to work at whatever job is available that would not violate your conscience understanding those good things will be like a bartender go-go dancer something that most idiotic thing any reasonable work anybody should be willing to do it if they really want to the next one is the conservative in your investments it's amazing to me everybody everybody ought to know that as you near retirement age you cannot afford to risk your principal you need to get in conservative investments however I have counseled with many people my age who lost thirty or forty percent of their savings for retirement because they were holding onto it too long in risky stocks you believe I'm telling the truth about this is amazing stuff so be conservative in your investments now here's one I put this in gold letters you remember that there is no more secure investment that investing in your own debts this is very valuable to know people come to me and says is it time to start investing again my answer is yes if you have any death is no more secure place to put them there whatever your interest rate is that's the interest rate you are and by the way if you should lose your job and you have lots of debts another thing people tell me will you not pay my mortgage halfway I need to go further with it listen carefully if you lose your job and usually payments you just lost your house you can make the payments pay it off that's what I keep telling people it's important beyond paying off your debts are during times of uncertainty the better part of wisdom suggests investments be on the conservative side this means FDIC insured accounts this is almost laughable when the government is thirteen trillion dollars in debt however the government has the unique ability to print money and they still are the most secure place is everywhere and understand that and as far as the world is concerned so if you have a surplus of means it's a good time to invest in the cause of God and the needs of God 's work continue even in hard times I learned the Catholic letter because he died about four years ago stated it's my strong conviction that becoming debt-free including the home mortgage should be the first investment goal for any young couple of person once you've achieve that goal then and only then should you invest in other areas so becoming debt-free the last one of this that is keep your eyes on the future this one is to be very interesting you remember their three parables in Matthew twenty five window parables the parable of the talents when the Lord called his servants and gave them his assets and blouses after a long time he came and said give an account of your stewardship so we must all give an account of the management guides resources figure was about was resources they were the Bible says in the beginning God created the heavens and the earth he's the creator what am I I'm a creature visa craters the owners on the via manager and that's all everyday important stuff I'm telling would you like Christian state planning in a nutshell since God is the owner of everything when I'm finished with that what should I do with it given back to him is very simple people argue to their last breath on that one but it makes sense to me let's go on here's another one are real homes in heaven of course the events of this earth will grow strangely dim in the light of God 's glory and grace someday soon before Rita Somerton something when you're in the market out there in the business world their something called inside information you not supposed to know act on your Martha Stewart spent some time in federal prison because of this you your nationalists are we actually have inside information we know that someday soon this was going to get burned up and everything in it and of course that will reduce his value considerably as you can imagine someone I want to tell you now is look at this part here at as the Bible says they have Lord will come as a thief in the night by the way that is coming is a faith in the night to the wicked to the lost ureter first this was the fifth chapter when it's possible things in the night if it's a place to me I'm lost so it can't be that way it will come as a thief in the night in which the heavens will pass away with a great noise the elements will melt with fervent heat both the earth and the works that are in it will be burned up now here's something interesting the fact that it all gets burned up will not be a great disappointment to the question why not because his charges are distorted and have and you do that by helping others and helping it that's the cause of God so we're now on the show you something that it seems to me that when you went when you're well on a surface with you have three sections to your life everybody has three sections to your life and that is your first is your learning years when you're getting your education your buddy or set apart and the middle years as the earning years when you're beginning to pay off your debts pay off your house educating children and so on by working under the all right getting education welcome living on his mobile home working at McDonald's you understand education is very valuable to affect your whole life but I'm sure most of you forgot to that party like the last part remember the learning is earning is the last one is the returning years so Kathy and I will be retiring soon when we do our goal be to divest ourselves of her assets to the wind are Jesus comes will be totally broke as a Christian perspective is on lesson everybody here is smart enough to understand twenty years from now if Jesus is not don't lately have that much time as he has to I'm not going to be speaking in front of the Army to be in a rest home watching three ABN video understand and you just got a be smart enough to know that we don't live forever on this earth aside from eternity is natural we just have to know those kinds of things that you plan for the future so I decided for this session you guys who turned your papers overrun back now your retirement at an estate plan could also serve as your end time plan and here it is planned to be debt-free including your home mortgage have a reasonable income stream and have basic health insurance you have a stranger to retire and be ready for the Lord so I want to show you know what that looks like it's all done in a love triangle here and you could make a love triangle is just got three sections were a look at the bottom when first the first thing everybody has to have his financial independence have your personal needs cared for these USA now I'll only give you an illustration of this Ellen White would give stewardship sermon so powerful that people would come to the front weeping and say should we sell our home and she would say I look at one Internet again today you can do it yourself is very easy to sell houses or sell homes and but and you look on the Internet are that the search engine here's the story she would always tell people the same answer and that is God may not ask you to sell your house now that letting him know that it's absolutely his and your willing to when the time comes but then she adds if you have houses and lands in the plural the understand more of these things that you need beyond your necessities sell it and put the money into the cost that's what she says look it up you'll find that anyway what can you do to this financial independence is the foundation of our state plan we cannot give away everything because we has to have something to live on something in reserve so you need to have an income stream and so I want to talk to some of some and all that I saw to stop this in outlawry might measure the system does my PowerPoint to publish it because I'm a different color here but nonetheless you guys instantly to catch it a gift annuity is kind of neat deal that conventional wisdom in the financial world today is understand what you need in retirement for example I'm still give you guys a basic illustration let's just say the fifteen hundred dollars in Social Security and you have maybe a thousand dollars from your other investments and retirement plan or whatever it is any of twenty five hundred dollars a month coming in what is probably okay if you don't have any debts that all the debt-free publisher so you'd like to have three thousand month coming at how could you get the other five hundred dollars and have an idea who work at Walmart yet welcoming people you're welcome to Walmart didn't hand him about the elect of the people do that that's what they're doing is not there not because they love everybody understand that their supplemental security this is pretty simple is chosen that you can enjoy your work regularly gardening or something the whole idea is the conventional wisdom out there is you should undo what ties the difference between what you have guaranteed Canadian and what you will need so an illustration of your study of twenty five hundred dollars coming in a month but you'd like three thousand and five is way to work part-time but a charitable gift annuity will do the trick as well so when Kathy and I seller home in Maryland and with the Tennessee will just tell you that real estate is worth a lot more in Maryland before the same house down here would be like a hundred thousand at least less depressed at part if we were to do a charitable gift annuity to the GC for example to benefit a number of charities that we want to see happen what happened is that we would be given a guarantee of five hundred dollars a month approximately two of the last one of us dies or took Jesus comes that guarantees an income for me they understand now that disability is primarily for the benefit of the donor that that is the fact that I'm not really benefiting charity till I die but it does put your charitable intent out there because when you die the balance whatever's in there most of that cost to understand that's what drove the gift annuity is a lot of people don't know this that Ellen White actually recommended this and I'll show it to you found this interesting statement and you can find on your CD-ROM there are those among us who have a surplus of means but they think they needed to sustain themselves let matters be arranged that these persons shall have interested on their money as long as they show the of and let them donate the principle to the cause and the work of God but they were returned to the Lord that which is his own is an incredible or not that is the definition of a charitable gift annuity that is that they're not once you let me this will go on here now the next part would relook at the middle of the triangle this is how to plan for in times same when you do for your state plan family legacy analog give you a little idea here this one has the most emotion associated with it when I teach my financial seminars that we can this is the last thing I talk about because if I did the first thing you're going to believe because it just is so contrary what most people believe establish credibility of course to begin with so let me just say this is especially true here in North America where people grow up with the notion that when their parents died David children should receive their parents assess divided equally among siblings is Google gesture statement okay now what shall you something here just incredible though what about minor children well what indicates it and we haven't I did mention this earlier but I'll just pointed out to you now we have a new book on on money magical faith and financial Saudi General conference session probably and it says in his book centers in and in source and thought is a twelve lesson small rebuttal study on money management very very good and the topics are all discussed and fleshed out that with that I'm mentioning to you now provision should be made for minor children for those who are still dependent on the parents for at least part of their food to clothing shelter and education parents must teach their children to become independent adults and good money managers the very best thing to do for your kids is to tend become independent adults is that true you understand grown children many financial counselors and others say there's evidence of both sides regarding leaving money or assets two grown children for example here's Ecclesiastes two twenty one four there is a man whose labor is with wisdom knowledge and skill yet he must leave his heritage are portion to a man who was not labored for it this also is vanity and a great evil is that incredible well less Ecclesiastes two twenty one same man said a good man leaves an inheritance to his children's children so the big question is how is this apparent conflict to be resolved show it to you what it is today in America things are quite different than they were in Bible times inheritances are generally are usually windfalls going to career people who live separately from their parents and were financially independent is a true statement I just put it down except for Israel okay let's go on it all this passing ownership of land the descendents wasn't vital without it succeeding generations couldn't farm or raise livestock I will give you a low challenge type in and your Bible search engine inheritance is about forty reference to pop up unless everyone talks about giving farmland to children so they could make their living now we have two children daughter Melissa 's associate editor of liberty magazine and our son is attorney here in Florida and I will just tell you something very interesting neither of them want farmland so if I'm that help them to become independent adults what do I do give them an education very very simple so we gave our children your assisted them to school and gave them their cash inheritance upon graduation from college and who pays for what you lost with his inheritance it is smart idea number tell you something amazing level will go on here you'll see that it was inappropriate to pass on a business to children who are depending on them that is the businesses and will continue to operate them but notice what the Bible says about legacy it says a good name is to be chosen rather than great riches loving favor rather than silver and gold could it be that values are real basic legacy think about this would you be happy if your parents left you these values ethical values such as honesty justice and fairness personal values such as modesty loyalty and faithfulness or emotional value such as compassion kindness and generosity those are the kind of things that were talking about other values such as good citizenship financial responsibility would I be more happy to have a legacy that my dad ran up big bills are moved to other states would be happy to know that people who send me your dad always paid all of his bills the understand so it is financial responsibility frugality good stewardship faith in God spiritual commitment punctuality competence health care for others time with family this one is a big one for me time with family they say that no one ever says on his deathbed I wish I'd spent more time at the office so you understand this whole big deal values and then of course love for education and self-improvement now where I got the triangle is from a book called values -based estate planning by Doctor Scott Fithian he says leaving no money but passing values on to heirs is acceptable they will they likely will manage their lives very well leaving money to heirs with poorly developed values is asking for trouble by the way when you leave a large amount of money to a child listen carefully they will not spend it the way you would spend that they will spend it the way they would spend the understand it's very valuable to understand that Ellen Weiss is the very best legacy which parents can leave their children is a knowledge of useful labor and the example of a life characterized by disk interested benevolence by such a life they show the true value of money that is only be appreciated for the good that it will accomplish in relieving their own wants and the necessities of others and advancing the cause of God so here's something I want you guys to write down these are very very valuable text of what I share with you much of the rhizome why do we have today aside from the test was a conflict series are compilations you understand like Council guide includes for example well if you really want to know about tithing where would you look clue I just gave it to you a few minutes ago nice testimonies two forty five and fifty two but if you want to know what to do with your state those are the two places is not a compilation there are two chapters written as chapters violent life and the first one is to Asia wealthy parents and the second one is called wills and legacies so this one is important one first one volume three of the customers one sixteen to one thirty in volume four page four seventy sixty four eighty five now since I'm an attorney people come to me frequently say would like to help us fill out are well and I say to them what you know is not appropriate for an attorney to give you counsel about your well you decide what you want to know I can put in legalese for you and get it properly the elves notarize inside all that but I said before you do that I want you to read these two statements these two chapters then you'll know what a Christian will is and then the burden is on you to do what the right thing is you get the idea so I'll give you an illustration of a number of years ago it's probably been eighteen years ago my mother called me one evening she was living out the Northwest were still lives and she says she's the only person will cause me Eddie Jesus Eddie your father and I have decided that moved to write our wills help most people think of when the writable annexes that have been a die hard the problem is you don't dinosaur ageist I prepared and I think everybody should have a will very very carefully by the way if you do not prepare well the states laws of descent and distribution intestacy come to play in the state of course assumes that you are an atheist listen carefully if you don't have the will not one cent of your estate will go to any ASI organization three ABN or anything like that did you guys hear what I just said the state will tell you where it goes it goes to your nearest relatives whether you like them or not whether Christians and I would need the money or not so if you want your money to go somewhere you must make a will and I will just tell you Kathy and I practice what I preach and caffeine have a couple years ago went down to our attorney in Silver Spring and we have our wills done are durable power of attorney 's done we have our medical directives living wills and so on you said you don't want me without those things this is very valuable while you have your wits about you you have to do that so here's this information okay Ron blue Lewis many of you know that the splitting heirs and other things it is written 's evangel Christian lives in Atlanta and manages millions of dollars for Christian businesses and so on he says if the parents and grandparents responsibilities and trust God 's resources to children only if I have demonstrated the ability to handle those resources in a manner that would be pleasing to him who is the owner of all the fact that because you have a child should not make the child the automatic beneficiary of your state and then he went on to say your steward of God 's resources in his behalf you're not a steward of your children's resources you're not accountable to your children about how you transfer or spend his money that's God 's money you are accountable to God it's interesting my son as I told you our son enters and turning and that when we were moving to Washington DC a number of years ago he was helping to load the van and it just happened that the file cabinet that will was in while it was being loaded fortunately didn't dump out the drawer came open that had our wheels in and we'll talk about this family worship and social big surprise to them but the most interesting thing is several days later at where in Washington and you said me go out while we were loading the truck this thing came open I saw last will and testament so I took the occasion rated to Melissa 's sister I will address is one thing is for sure were better off with you alive than dead I thought I should wish to contribute to them young would help them and so on the whole point is what is the primary goal of parenting to train the kids to become independent also once you've done that then your spirit your shifting goes to the advancement of the cause of God 's parents while their live would assist their children help themselves it would be better than leave them a large amount of deaths over talking token gifts your set of the whole estate children are left Ellen White noted to rely principally on their own exertions make better men and women and are better fitted for practical life the most children who have depended on their father 's estate I don't need to ask if these interesting is when anybody knows anything about life as they are definitely true what's the spiritual legacy that's the last part now here comes the neat part for me once I have established my financial independence let's just say that I'm debt-free and I have a reasonable income stream coming in and my children are taken care of then what do I get to think about I get about think about building one day churches in Madagascar or in Peru are dealing article Digg in addition IBM and this is incredible to be able to see things happen because of God 's blessing in our generosity God doesn't ask us to put in the back to give Judah back to have a thesis do with that you know as I would do if I were here but that's the cause of God so in our case this would not be true if you have minor children Young said minor children are still depend on parents but in our case our line is right there is regarding on this part so we can start returning assets to God this to me is really exciting something interesting happened Kathy are you guys many the emergency before Kathy is actually money manager by family and she's been doing this for low these forty three years very well and so the interesting part is though every year about March she hands me a whole big box full of receipts as of well organized and says you're the attorney you do the taxes so I get to do the taxes every year but now we have TurboTax and so on so I just get on it computer all the stuff and when I typed in our contributions last year but most of you knows things below Belkin 's worldbeat beep beep at red lights they are you sure are you sure are you sure to override the computer to contribute what you want to do you get the point the bottom line is when you get at that stage of your life should not bell go off almost every year if the point okay so limit will talk if you about this here's Letourneau but this is the lay Christian businessman and philanthropist the question is not how much of my money I give to God but rather how much of God 's money I keep myself pretty big deal people complained that the church talks too much about money because they don't understand God 's ownership in our stewardship how we manage God 's money is so important that he got inspired by the writer to talk about this topic more than any other topic some two thousand five hundred verses in the Bible on money and possessions in our attitude toward them so here's something real exams don't delete the slide the discount if I sent decidedly that most people spent two thirds of their lives I came writing their assets and when they finally reach retirement age with accountable nesting financial advice from the start giving it all away is yo-yo you have all of the study this whether you're a Christian or not I would assume most of your Christians when you die you not to take anything with you you have made plans for something to understand so this'll be interesting Scott Fithian says about larger states can have the state and gift tax consequences but he noted it is simple to eliminate the estate tax by leaving out a percent of the estate to charity at that only minimal lifetime planning is required and flexibility is retained of course most of us would talk about doing it quicker in Austria what I mean by that once the force of the state is identified number the top part of the triangle that can be returned to God that a decision must be made as to when and how this will be done will be done now that is inter vivos while living will be done with testamentary documents after death I know to tell you that it's much much better to do the giving while you're still alive and there's a reason the happier is I give seven everything but this one I have a donors to see the results you would you like to see the smiling faces of children and adults one hundred churches opened up and going it you understand you are missing from the grave ministry a person can benefit now when the need is the greatest another one is a prevent fighting among family and friends after the donor 's death and I've been involved in estate planning long enough to know this happens you might think it doesn't family and friends argue about estate planning if it's gone there's nothing to fight about this is important okay else a sensitive example of family values of generosity and love for others it minimizes estate tax consequences it guarantees the gift will go to the desired entity now I can tell you that just because you have a properly drafted will does not necessarily mean that your intentions would fully carried out some ill challenge the will for example but even listen you guys remember Leona Helmsley died about five years ago what what was her plan for twelve million dollars go to her dog now this is incredible and I must obligate GEV twelve million dollars as the crowd just recently about two years ago a federal judge ruled that that was too much for the dog and they gave ten million to one of her other charities that left only two million for the dog now this is incredible but what I'm telling you is a one what she had in her will the understanding those properly drafted well another one it demonstrates the notice Christlike motivation and probably one of the best in stores up treasures in heaven this one is incredible when you think about it really Ron Bloom made this amazing statement Ellen White said something almost exactly like it and I want you guys discounted what you think about it it's pretty interesting my own belief is that you get no eternal reward for assets given at death you don't have any choice you leaving at all anyway how you receive a reward for something you cap your entire life were forced to give only at death God will reward you later for your sacrifices now for your faith shown now for your unselfishness now in this life now Alan White made another simple statement like yet those neglect known duty by not answering to God 's claims upon them in this life and so their consciences but Kaplan on making the request that death will receive no words of commendation from the master nor will they receive a reward left replay for the testimony switch forays right in that section actually to write down the verses for before she says they practice no self-denial but selfishly retain their means as long as they could yielding up only one death claim them that which they proposed a different other about to die if they were Christians indeed they would do well to have a strong hold on life that's the own illegal world testamentary capacity just because I'm alive this is not to make it will somebody understand it don't have your wits about you and your kids are your your your heirs enough in what your assets are naming in a way assets those kinds of things so what are the spiritual options will look at several things here there are hundreds of causes to sport with charitable spiritual legacy funds now listen carefully I am a person who's very very keen and I think pretty much up to date on tithing I was on the use of high study commissioned general crops for three years and is one of the writers and researchers for that committee and I'll just tell you I understand Bible and spread prophecy that tithing but let me just tell you hear the tithe is holy and belongs to God is that true Leviticus twenty seven verse thirty and goddesses I have given the tithes in Israel to the Levites as an inheritance exchange who work to do the work the technical meat which is numbers eighteen twenty one the gods is the times might find in a given sport the work is of the church source nondiscretionary from my perspective is that true man I'd also like as the church with my time the whole point is very very important once that's high this meant taking care of the wood back statement here the funds that are left to be classified as offerings and their use is discretionary to the giver so you can do with it whatever you think God would want you to do whatever your favorite no Christian ministry is is that makes sense so you can understand that if I'm really keen on three ABN if I'm really Canada's French omissions in a populous and I am keen on and you understand those kinds of things or enough I like that of the quiet hour whatever it might be in anybody's ministry others mention that there are people who would like to do that and I will just tell you that it's important that it wants to tie this is taken care that these portions that we can return to God are at our own discretion now the system asked the first chapter and verse eight will receive power after the Holy Ghost is come upon you the newlywed Mrs. and me both in Jerusalem and in all Judea and Samaria and under the uttermost part of your post said that Jesus is written in red if you have read letter to the Bible Jesus told that to the disciples and we find guidance this explanation regarding the scope of our mission interests we can fill in the names of our cities where we live this to me is very interesting end of the respective heirs were we discover that they could easily match our community our local church our conference in the world field because their talk there just all the rich young ruler that by helping others especially the poor we store up treasures in heaven and become one of his disciples so here's options for spiritual legacy just I just put a few dogs this is not exhaustive but Christian met our Gospel ministry in many ways Christian education our tell your story that to me is incredible a pastor told me that so I can find the confirmed it with the person it happened to the young man graduated from high school in a local church and I want to give too many details about this but I will just tell you that this pastor asking what are you planning to do with the rest of your life he says I'm just going to get a job in the minds like my father did the coal mine and he said that he ever thought about going to college at a similar thought about it but I just couldn't afford it in the past and what if the church that was willing to help you to school would you go yes it's kind of difficult for me to tell you this but I want tell you the story anyway when the pastor took him to the bus to go to college he noticed that the young man didn't have the belt on so he took his own belt often gave the young man young man today is an ordained minister and a licensed attorney out of like me it isn't me but I will just tell you what would've happened if somebody hadn't said will help the skin you get the point is incredible really there's so many opportunities in so many wonderful young people out there that would do something no page numbers went to Africa were to arise or someplace like that where they can get trained to be a by worker or something you know be valuable in their church to build new churches it's really incredible to me when Jeff and I went without opposition his wife Doctor Gail Johnson is working we went over to India several years ago and we did these that you attend village evangelistic meetings whatever that was knowledgeable and attraction this is incredible to me to understand that yet we can do this for people and by the way God asks us to do that you understand of course that almost all of the people the thousands of people than that present in the over the last two years most of them come from the lower class the untouchable class and they are virtually no assets they love and appreciate their minister their contact with God and God is blessing them as you understand but are starting out zero Amanda this is amazing and I think it's a good as an opportunity for us to do something for people like that another one is to help pay off the mortgage of your local church help support school clinics orphanages abroad I have gotten soft spot in my heart heart for little kids there so so cute Kathy is out I went with a group of ASI people down to Brazil a few years ago to help start a assigned Brazil some of you old enough to know that for three years I was secondly a sergeant conference and so I went to Brazil and Milton Funston Meadow still not accept some of his orphanages in these precious little children they're just so incredibly want to adopt every one of them are so sweet and we actually stopped in their right in the middle of the day in the den outplaying for recess they were all sweaty and dirty and no abatement would just amazing and so the lady who is the head of the place said to Doctor Alonso take these guys although walk and come back in about half an hour we came back in everyone's low boys had just had a shower on with around two opposing weapon mixed hair was always clean little shorts on cute as can be and had orange juice squeezed out for us and they sang us a song is incredible to me where could you spend money better than helping children like that is incredible really in your India where you go there's incredible Haiti anywhere there's just awesome things you can do another one is sponsoring a person on a mission trip Kathy and I were involved in going to the Highlands of New Guinea in the Christmas break of nineteen eighty nine ago our kids with us our two children but we took a number of other friends with us to New Guinea and every one of them have remember that as a highlight in their entire life I've never met anybody on a mission trip and felt that it was a bomb that they where most everybody says it was the more of a blessing to me that Westboro and our kids told us after being in New Guinea where the kids in native village or build our church had no toys did you understand they know toys and they were happy as all get out it was just amazing so Andrew and less about pelvis away their don't will never complain again as well as with many never have that is just amazing just going there on that mission trip pretty amazing stuff okay we got a lot here's one that's important practical benevolence that is helping others having it as the cause of God will give spiritual life to thousands of nominal professors of the truth and what is nominal professor of the trip in name only and you know we always say that if you're in name only if you arrest for being a Christian it would be enough evidence to convict him so this is kind of a name on the Christian faith you get involved in helping others what will happen is something interesting it will transform them from selfish cockroaches worshipers of money into Ernest faithful coworkers with Christ in the salvation of sinners which might have a church for those kind of people they been transformed like that pretty amazing now what tell you something interesting we're told one reason why there's such a dearth of the Spirit of God is that so many are robbing God were praying for the latter rain partly Muslim should be praying for the early range of understand that that is a time for the latter reign of my book that was present but that all out but I'll just tell you the early rain is way beyond what most of his ever thought about early rain is so incredible that when it came unlearned men and men without degrees like I have many of you have unlearned men were able to speak foreign languages without an accept perfectly is an incredible or not they were able to raise the dead to heal sick people this is amazing and the convert three thousand people in one day and one city so you early rain powers were significant is not the mention the prank of the highway but listen carefully if I'm robbing God there's no point we pray for the Holy Spirit is on again you believe industrial is true so we have to understand that there are certain principles that we have in mind when we think about the love of money were told the desire for wealth is the golden chain that binds men to say steps to Christ page forty four this is a real commonplace look steps to Christ love of money the desire for wealth is the golden chain that binds people to say no one can serve two masters were computer you like the one love the other grocery loyalty one despised and cannot serve God and man the next one is just like it on the show you something interesting councils Georgia two very interesting income statements is now that our brethren should be cutting down their possessions instead of increasing them were about to move to a better country even a heavenly then let us not be dwellers upon the earth but be getting things into a compact a compass as possible small assets this to me is pretty interesting she goes on to say this one here the work of God is to become more extensive and of his people follow his counsel that will not be much means in their possession to be consumed in the final conflagration that was not much of our something it burned up at the end all that laid out the trash where moth and rust cannot corrupt in the heart will not have accord to bind it to this earth I'm sure you've read this before but I want you to understand something interesting when the economy crashed about a year and a half to years ago in the stock market went down fifty four percent in less than a week I thought to myself I have kept my stuff too long what can we do about this either one of because like this when God comes back and I think frankly that God is giving us a couple years maybe three of the most to get our I was in order and the seven things I should be on the front page into your business plan it's very very important we understand that because then very means that is now so sparingly invested in the cause of God and is selfishly retained when a little while because with all idols to the molds into the bats money will soon depreciate in value very suddenly when the reality of eternal seems open to the senses of man amazing and I will show you how things will go in the end counsel stewardship page forty in the last extremity before this workshop closed thousands and thousands of dollars will be cheerfully laid upon the altar men and women will feel it is a blessed privilege to share in the work of preparing souls to spend a great day of God and they will give hundreds as readily as dollars are given now normally tell you I'm not asking this question if you're a deacon at your church and you receive the offering plate what is the most common bill you see in the offering plate a one dollar bill I would tell you that this happened the deacons would fade away dead writing church when I see the end of the world every knows a hundred dollars would not be incredible that's what it's talking about here people will say this is the most important thing on the world to me I'm giving the money to invest Gaza obviously you wouldn't do that because you put in offering envelope when you is a long as we get deductions for no contributions to charities one machine to get a receipt for what you understand point okay now here's something amazing did Christ professed people but realize how near is the end of all the work for the salvation of souls they would do three things this is an counsel stewardship age forty forty one first volume sacrifice of their possession that should be there Saturday their possessions as freely as did the members of the early church the second thing is they would work for the advancement of God 's cause as worldly men labor to acquire since many of you I think this Sunday ask coming you going to college or anytime he likes to work more than one job is in my work two jobs before giving up most of us have done something like that but when we sure this announcement is very interesting they would exercise tact and skill in earnest and unselfish labor would be put forth to acquire means not to horrid but to pour into the treasury of the Lord I put companies in your last ministry that should reveal you are so poor but you understand the point the time is coming when we cannot sell at any price the decree will soon go forth really meant to buy or sell for many men save you that the mark of the beast I want to tell you something interesting catheter and a seller has to next few months we think if we advertise it doesn't sell what's the reason price beyond the market current market right the real simple but said it was remedy lower the price listen carefully what if I cannot sell not just by the cannot sell nobody can buy if I put it down to ten dollars this analysis it does now will look at another one interesting juice is not promised that all except him will become wealthy by the world standards however he has promised many things to those who follow and obey him and here's the first one he will supply our needs as Philippians four nineteen and that is according to his riches in Christ Jesus you know number two he'll be with us wherever we go guys like that part and then the last one is he will give us peace a lot of people can really stress out over this finance business I can tell you that most of your old enough to know when you used to can your own vegetables raise a garden in those kinds of things we can do this governs we can exist if our stuff is taken away from is worried that this is the point I'm trying to make you understand that when this the president 's visit bringing to the guy who took so much money for people sixty five million dollars and five thousand clients made on Bernie made off domestic or nice guys and Federal Reserve is doing it anyway that is okay yet Bernie made off on size and a picture Bernie made off but you know he built more than five thousand Pleasant sixty five billion dollars of their assets a number of his former clients have committed suicide but the Bible says in Isaiah twenty six three that will keep him in perfect peace whose mind is stayed on the so Ellen White says this when I like the statement there are those who are ready and willing to invest in the cause of God those you are will be blessed in their efforts to acquire money it is no sin to acquire control property as the stewards of God holding it only until he shall require it for the necessities of his work that's important thing to understand how God gives people the power to get wealth you you familiar with that of course and something I want to show you now I frequently speak to workers meetings we call them and I'm a caffeine are going next month to Iceland to speak to the workers meeting window of seminar for all the churches in Iceland guess how many workers there on their last six five or six as the whole team really just a situation but do we go to lots of work is moving weather been hundreds of them but I'll just tell you something interesting the devil also has workers meetings and what to tell you something Ellen White was given a view into one of the devils works meetings and this is what she heard the devil saying as the people of God approach the perils of the last days member seminars build about money management in the last days Satan holds an earnest consultation with his angels list of the most successful land of overthrowing their faith says the great deceiver now comes the quote go make the possessors of lands and money drunk with the cares of this life present the world before the myth most attracted like that that they may lay up their treasures here and fixed their affections upon earthly things do you think the Devils been successful at this it's amazing now he goes on to say make them care more for money than for the building Christ's kingdom and the spread of the truths we hate and we need not fear their influence for we know that every selfish just person will fall under our power and will finally be separated from God 's people keep their money you understand that finally got people it's pretty incredible and I use this in my current seminars on the certain second coming from his averages six thirty six Satan sees that his time is short he has set all his agencies at work that men may be either deceived diluted occupied which means busy and entranced until the day of probation shall be ended and the door of mercy shall be for ever shot of this to me is amazing the concepts they are the devil most I'm sure we understood that we stipulated that the beginning of the seminar but in addition of that the devil has none of his workers on break right now note was on vacation best that happened during the millennium this is either all at work it out he's got all these

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