by Henry Netherland, founder of Faithful Financial LLC.
The financial services industry has evolved over the years. Even what we call people who help us with financial matters has changed, from stock brokers to registered representatives to financial advisors or planners. The world is changing and the industry is trying to keep up. We have traversed changes from product specific offerings to a goals approach to life event planning.
As a Christian Financial Advisor, I believe there is a better way.
Conventional wisdom says change is constant and we must continually adapt. Of course this is true to a point. But some things, often the most important things, don’t change. Among these are biblical principles and truths. These are transcendent and never change. As such, they are the rock on which we should build everything else. (See Matthew 7:24-27)
Jesus says in Matthew 6:19-21, “Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.”
This throws a kink into the world’s financial planning methodology. The longer I’m in this industry, the more convinced I am that the entire thing is backwards. Let me explain.
The world teaches financial advisors this pyramid:
Basically, when helping clients develop a financial plan, financial advisors are taught to start with Cash Flow Management and work their way up the pyramid to Estate Planning. If this pyramid was all there was to it, then I would agree. This approach makes perfect sense to anyone focused on storing up treasure on earth.
As Christians, how do we reconcile this approach with what Jesus said in Matthew 6? Where does storing our treasure in Heaven fit in?
Later in Matthew 6, verse 33, Jesus tells us “But seek first his kingdom and his righteousness, and all these things will be given to you as well.”
How can we seek first the kingdom of God if it isn’t even in the pyramid?Let’s look at a different approach.
If we seek first God’s Kingdom it makes sense we start with a solid eternity plan. This approach makes no sense to those without a Kingdom of God focus, but is critical to those who follow Christ. It also demonstrates our need to share the gospel with others. How can anyone have peace, much less financial peace, if he doesn’t have God’s grace and assurances?
Every item on the pyramid takes on a different dimension when the focus is on God. Estate Planning shifts from who gets what, to how to further God’s Kingdom as we enter eternity. Retirement planning shifts from ensuring we don’t outlive our money to planning how to impact God’s Kingdom once we have more time available to us. Tax strategies shift from a selfish desire to a Kingdom focus. How we invest changes. Our risks are different. How we handle our money daily has a new significance.
“The fear of the LORD is the beginning of wisdom; all who follow his precepts have good understanding. To him belongs eternal praise.” Psalm 111:10
“For the message of the cross is foolishness to those who are perishing, but to us who are being saved it is the power of God.” 1 Corinthians 1:18
I would encourage you to put your faith in God, repent of your sins and build a rock-solid eternity plan. Then the rest of your financial planning will become more meaningful.
“Do not conform to the pattern of this world, but be transformed by the renewing of your mind. Then you will be able to test and approve what God’s will is–his good, and pleasing and perfect will.” Romans 12:2
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Important Disclosures
Faithful Financial LLC is a registered investment advisor.