9 strategies biblical wealth management

 1. Discovering Your purpose for Biblical Wealth
Management
2. Cash Flow Discovery and Management that
honors God
3. Wise Risk Management
4. Estate Planning that incorporates caring for your loved ones and others
5. Investing and Asset Allocation that uses
Biblical principles
6. Setting up a Retirement Income Strategy that
will last throughout you and your
spouse’s lifetime 7. Wise Tax Planning Strategies that are legal
and ethical
8. Philanthropic Planning and Giving that creates
a lasting legacy
9. Seeking Non-Proprietary, Fee-Based Biblical
council. “In all labor there is profit, but mere talk leads
only to poverty. The crown of the wise is their
riches, but the folly of fools is foolishness”
Proverbs 14:23-24 Today let’s look at the first strategy: Discovering Your Purpose for Biblical Wealth Management
(Why are you here and how does this affect
your wealth?) Jeremiah 29:11 (New International Version) For I know the plans I have for you,” declares the
LORD, “plans to prosper you and not to harm you,
plans to give you hope and a future. Before wealth can be managed properly you must
first identify the core values and priorities by
which you will steer all areas of your life, including
your finances. What drives you? What principles
guide your decisions? What do you ultimately
want to achieve with the life that God has given you? What’s your mission in life; your vision for
the future? These are just a few of the questions
you will answer as part of the process of
discovering your purpose. I believe those who
take the time to discover their purpose will reap
eternal, spiritual and financial rewards because you will lay out a life roadmap to follow. By completing a series of exercises you can
identify the priorities that are a result of your core
values. You can discover your purpose, your
purpose for Biblical Wealth Management, by
examining these values. These exercises will
take you through the process of discovery and action planning. Once you complete the
exercises, you’ll have a personalized design to
guide you through fulfilling all your God given
dreams. Your enthusiasm and motivation will
increase dramatically because you’ll now have a
clear picture of what you should focus on—goals God has given you through prayer that He wants
you to accomplish. Here are the five exercises that will help you Discover your Purpose for Biblical Wealth
Management: 1. Identifying what you value most in life. Things
like a personal relationship with Jesus Christ,
your spouse and family members, a healthy body,
your church and/or other non-profit organization
(s), the financial freedom to go where and when
you are called to go, etc. This is a critical step because it will become the building block for the
next four steps. 2. Explore what your meaningful purpose is in life.
Knowing your purpose fuels your passion and
commitment and gives meaning to your life. 3. Design a compelling vision for your future. This
is a vivid representation of your life that results
from being true to your purpose. It envisions such
things as: your living and work environment, the
people you want to surround yourself with, how
you want to spend your time, and what you want to accomplish in your personal and professional
life. 4. Create a personal mission statement (and for
some, a professional mission statement) which
will be your roadmap to guide you toward your
vision in your daily life. 5. Set 1, 3, 5 and 10 year goals and create an
action plan that will help you implement your
mission, live your values, and move toward
achieving your vision. By completing these exercises and internalizing
their meaning, you’ll have a renewed enthusiasm
for living your life by design, God’s design. Once you have discovered your purpose for
Biblical Wealth Management, you can build on
this foundation for the other eight strategies. Next
week I will talk about the importance of Cash
Flow Discovery and Management as the second
building block of NINE STRATEGIES FOR BIBLICAL WEALTH MANAGEMENT. _________________________