It’s important to save. Saving isn’t easy—especially not in our consumption-driven culture. Debt reduction is usually the most important and difficult step in saving, but it’s essential for financial freedom. Saving allows us to set aside some current income for future enjoyment. This future enjoyment can be short or long, and—believe it or not—can even be unending. In our “Registered Resurrection Account” series we’ll introduce a super-long-term, permanent savings account. Capital accumulation at its very best!
Most people save for their retirement, and retirement planning is a big business. Governments promote retirement savings to reduce pressure from seniors on the public purse. In Canada we have the RRSP (Registered Retirement Savings Plan) and TFSA (Tax Free Savings Account). In the States, Americans use their 401k or a Roth IRA. But is standard retirement planning the best way to save for the future? I don’t think so.
Don't misunderstand; I’m not saying that regular retirement savings is wrong, just that there’s something better in addition to traditional retirement saving—something longer-lasting and not tied to financial markets or taxation system. I recommend that it precede—not replace—retirement saving. It's better, but it’s not new, just forgotten.
Jesus Christ spoke of it many years ago. He recommended a savings account with an ultra, long-term perspective: A million years and beyond! It’s enduring, super safe, and tax proof. I like to call it the Registered Resurrection Account (RRA). Jesus said,
When you give a luncheon or a dinner, do not invite your friends, or your brothers, or your relatives, or rich neighbors, otherwise they may also invite you in return and that will be your repayment. But when you give a reception, invite the poor, the crippled, the lame, the blind, and you will be blessed, since they do not have the means to repay you; for you will be repaid at the resurrection of the righteous. [emphasis added] Luke 14:12-14.
Amazing! But what if you don’t believe in a resurrection? What if there is nothing beyond the grave? What if this life is all there is? Well, then Jesus Christ was terribly mistaken. Was He wrong? I doubt it. I’m biased, but I defer to His wisdom—especially on matters concerning life and death. He said, “An hour is coming, in which all who are in the tombs will hear His [God’s] voice and will come forth; those who did the good deeds to a resurrection of life, those who committed the evil deeds to a resurrection of judgment,” John 5:28-29. When Jesus says all, He means ALL. Everyone will come out of their graves, whether they believe or not. The Law of Gravity doesn’t require faith to operate when it makes things fall. Faith or its absence never established a law.
Tom Lipp
(All Bible citations are from the New American Standard Bible - NASB translation unless otherwise indicated.)
This is the last article in the series on improving our personal work habits by studying God’s work habits. Have you ever wondered why God gave us a step-by-step account of His work in Creation? Why did He put in certain details and leave out others? Who cares? Isn’t evolution a fact? I believe Darwinistic evolution is bunk: Polished, pseudo-intellectual, well-packaged, mass-marketed BUNK. I believe the Bible’s account is accurate and factual. The Bible is an archeologically-supported historical narrative, not a textbook. Our textbooks are always being rewritten, but the content of the Bible is unchanging truth. With this underpinning, I believe that not only was the seventh day of rest established for our benefit, but that the entire creation process was recorded so that we could learn to work wiser. The more we learn to work like the Creator of our universe worked, the better we will operate within the world we live in. So, what can we learn today?
This is the second-last article in a series, taken from Genesis chapter one, on improving our personal productivity by studying how God works. Today’s lesson: DELEGATE. God finished His work only after He had appointed someone else to take care of the earth. For this task, God created and commissioned mankind.1 He made mankind in His image.2
Many people in the Western world have financial problems because of bad work habits. They are struggling with basic skills. It’s time we all went back and learned from our Creator. This is our seventh lesson on improving our personal productivity based on the Bible. In Genesis chapter one, God gave us a day by day account of how He made everything. Do you remember what God did on day two of seven? He made two large “arenas.” At the end of Day Two, unlike the ending of all the other days, there was nothing “good” to see. There were just two large empty spaces: The sky above and the waters below. God prepared the spaces on Day Two, and then on Day Five, God filled them with living creatures.
This is our sixth lesson in improving personal productivity based on a study of Genesis chapter one.
This is our fifth lesson in improving personal productivity based on a study of Genesis chapter one.
Then God said, “Let there be an expanse in the midst of the waters, and let it separate the waters from the waters.” God made the expanse, and separated the waters, which were below the expanse from the waters, which were above the expanse; and it was so. God called the expanse heaven. And there was evening and there was morning, a second day.
All of Genesis chapter one was written for our instruction. In previous articles we learned about the importance of Spirit-led planning and getting enough “light” before doing anything else.
All of Genesis chapter one was written for our instruction, I believe in part, so that we could learn to improve our own work habits by copying those of our Creator. In our previous session we learned about the importance of Spirit-led planning. Think first! When God did act, the first thing He commanded into existence was light: “Then God said, ‘Let there be light,’ and there was light. God saw that the light was good; and God separated the light from the darkness.”
It’s summer! Who wants to work? Not me! But imagine: Planning more, acting less, and yet ending up with better results. This is the first in series on improving personal productivity, based on the first chapter in the Bible. Why start there? Think about it; God gave us a whole chapter describing how He made everything. Most believe Genesis chapter one is a myth or merely poetry. Big mistake. Others get caught up in the young earth/old earth debate. Big distraction. Join me in learning from our Creator how we can improve our work habits by copying some aspects of His working style. Clearly we are not God; we cannot command things into existence. But we are made in His image as creative beings and therefore we enjoy creative activities. Let’s learn from our Creator, starting at the beginning.
What is true conservatism? This past year we have all witnessed some big political surprises in Europe and the USA. Some have called it a populist resurgence and a move away from globalism. I really don't like following the gyrations in the political world. There are more important things to do, personally, at home, and locally. But, I sometimes wonder where are governments headed, especially in Alberta and in Canada?
“What’s that? It must be a typo! You can’t have (8) eight of (7) seven. Impossible! Everyone knows that. You can’t make something out of nothing. You can’t feed thousands with just a few burgers. Nobody can work financial miracles; it would be like turning ordinary water into expensive wine! Face it, there are certain laws of the universe that no one can override. Besides that, everyone’s financial situation is different; it’s unique. It’s like a personal fingerprint. For God to help every person with a customized miracle, God would have to know not just their financial needs, but also their financial skills. Unbelievable! Such intimate personal knowledge would be like knowing how many hairs are on each and every head. Ridiculous!”
Money is strange. It disappears faster than it appears. As humorous, American poet, Ogden Nash, once said, “O, money, money, money, I’m not necessarily one of those who think thee holy, but I often stop to wonder how thou canst go out so fast when thou comest in so slowly.” It’s just plain hard to preserve wealth. Stock market “corrections,” inflation, and financial fees all destroy our wealth. What to do? Jesus tells us to “store our treasures in heaven.” I plan to deal with this in a future article, but what do we do with our vulnerable earthly treasures? Let’s take an indirect lesson from Abraham, whom God made “very rich in livestock, in silver and in gold,” Genesis 13:2. Note Abraham’s three categories of wealth: Livestock, silver, and gold. This is the first biblical mention of a diversified asset portfolio to safeguard earthly blessings. I see livestock representing dividend-paying stocks with growing dividends, plus the ability to reproduce via stock splits. Livestock falls within the asset sector of consumer staples, and might even be viewed as utilities/infrastructure. On the other end of this investment spectrum we have gold. It’s dead. It does nothing. It just sits there and looks pretty. Yet gold is internationally recognized as a primary store of value. It’s used as pavement in heaven, but on earth it will never lose all its value. Silver represents cash and highly-liquid, short-term bonds. Some of you may remember when silver was cash. Before 1967, Canadian dimes and quarters were mostly silver. It’s good to keep some of your portfolio as cash so that you can act fast. Why diversify your holdings? Ecclesiastes 11:2, as expressed in the God’s Word Translation, says it best. “Divide what you have into seven parts, or even into eight, because you don't know what disaster may happen on earth.”
Give to the poor. This is another secret ignored by the financial planning community, except perhaps as an afterthought or as a tax reduction strategy. Too bad! The Bible heralds it loudly and consistently: “He who gives to the poor will never want, but he who shuts his eyes will have many curses,” Prov. 28:27; “Happy is he who is gracious to the poor,” Prov. 14:21; “One who is gracious to a poor man lends to the LORD and He will repay him for his good deed,” Prov. 19:17; “The generous man will be prosperous and he who waters will himself be watered,” Prov. 11:25. Jesus himself said, “Give, and it will be given to you. Good measure, pressed down, shaken together, running over, will be put into your lap,” Luke 6:38. I am not saying we should “give to get” in a motivational sense. I am saying that if we give properly, God will ensure that we are not net losers.
Honour your parents. Really? How’s that related to financial success? In decades of financial planning and counselling I have noticed that those who spoke well of their parents tended to be better off (even financially) than those who criticized them. This is a general rule, and not always true. It’s not discussed in professional accounting circles or in university finance courses, but I think it should be. It’s a law of life that God has established for us all and the only one of the Ten Commandments with a specific reward. “Honor your father and your mother, as the LORD your God has commanded you, that your days may be prolonged and that it may go well with you on the land which the LORD your God gives you,” Deuteronomy 5:16. Unfortunately, most Canadians have ignored the Bible during the past fifty years, so they have unwittingly missed out on this blessing. If this is the case, how do we honour parents?
Underspend! Deliberately underspend! Humble yourself by choosing to live BELOW your affordable lifestyle. It’s simple, but not easy. Voluntary frugality is one of the biggest secrets to financial success. In the perennial best seller, The Millionaire Next Door, you can read about the inner-workings of wealthy households. It’s a good read. Contrary to what advertisers would have us believe, riches and hyper-consumption don’t go hand-in-hand. Quite the opposite! Most millionaires purchase used cars—not new—nor do they drive many luxury cars. My brother in Ontario was surprised that one of the Canadian billionaires, Mr. Weston, who could easily afford a Rolls Royce, drove a Ford minivan. I remember reading about the owner of Wal-Mart, who, when asked why he drives a used pick-up, replied, “Because I like it.” Financial coach Dave Ramsey says that when you are getting out of debt, “you must live (super-thrifty) like no one else, so that when you are out of debt, you can live (abundantly) like no one else.” It’s all about delayed gratification. Together as a couple or family, choose the area(s) you will reduce spending in, and celebrate your successes with high-fives or a special, affordable treat. For example, cut out junk food, or buy used items instead of new.
I thought my dad was dumb! There he sat with his hand-designed ledger, shopping receipts, and a bank statement. He was at it again—recording all our family expenses by category, and reconciling them to the bank statement. Why track your money? You can’t bring it back. Who cares where it went? Well, that’s what I thought as a teenager. Even after my know-it-all years, and into my thirties, I didn’t take this seriously until I had six children and was starting a business. Money left as cash, cheque, credit card, debit card, or pre-authorized payments. As money itself becomes more nebulous, measuring money flows becomes more difficult. Financial coaches have their clients track personal spending for at least 30 days. Why? You can’t manage what you don’t measure. Get organized. Keep score. It’s the third “spiritual secret” to financial freedom. Getting organized may not sound spiritual, but it is indeed spiritual. Spirituality is not chaotic; it’s quite the opposite.
Three years ago I was in Kathmandu, the capital of Nepal, with my son Timothy, and we were walking in the intersection of three, small streets when we noticed a large, broken brick on the road. I stooped down, grabbed the brick, and flung it into the nearby bushes. Timothy asked, “Dad, why did you do that?” Surprised, I explained that the stone was clearly a traffic hazard, and it only took a few seconds to clear away. He replied that in a Hindu country dirty, menial tasks are left for the lowest cast, or viewed as karma from the gods for some unsuspecting cyclist. But I had been trained by my parents to be a blessing to others. Sadly, many individuals and nations have significant financial trouble simply because they don’t apply this second secret. They don’t work to serve others.
Most people in the Western World ignore God when it comes to money matters. Really? God? Which God? There’s only one Creator. He is sovereign. He understands everything divine and human—including all money matters. The Lord Jesus Christ, who physically rose from the dead (a historic fact), is God Almighty, being co-equal with the Father and the Holy Spirit. Here is the first of seven, spiritual secrets to successful money management.