Category: Financial Wisdom

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Is Extreme Wealth Evil?

Job 1

1There was a man named Job who lived in the land of Uz. He was blameless, a man of complete integrity. He feared God and stayed away from evil. 2He had seven sons and three daughters. 3He owned seven thousand sheep, three thousand camels, five hundred teams of oxen, and five hundred female donkeys, and he employed many servants. He was, in fact, the richest person in that entire area.

4Every year when Job’s sons had birthdays, they invited their brothers and sisters to join them for a celebration. On these occasions they would get together to eat and drink. 5When these celebrations ended—and sometimes they lasted several days—Job would purify his children. He would get up early in the morning and offer a burnt offering for each of them. For Job said to himself, “Perhaps my children have sinned and have cursed God in their hearts.” This was Job’s regular practice.

6One day the angels came to present themselves before the LORD, and Satan the Accuser came with them. 7“Where have you come from?” the LORD asked Satan.

And Satan answered the LORD, “I have been going back and forth across the earth, watching everything that’s going on.”

8Then the LORD asked Satan, “Have you noticed my servant Job? He is the finest man in all the earth—a man of complete integrity. He fears God and will have nothing to do with evil.”

9Satan replied to the LORD, “Yes, Job fears God, but not without good reason! 10You have always protected him and his home and his property from harm. You have made him prosperous in everything he does. Look how rich he is! 11But take away everything he has, and he will surely curse you to your face!” (Job 1:1-11, NLT)

The Daily DAVEotional

What does the Bible say about money and wealth? Actually, the Bible says a lot about money and riches, but what the Bible says may surprise you.

In today’s culture, there are many who decry wealth as being evil. Politically, there is a whole movement that seeks to take from those who have and redistribute it to those who don’t have.

Some have argued that God is “against the wealthy” and “for the poor”. I’ve argued extensively against this thinking in a number of posts that explain key biblical texts on money and wealth. You can read some of my thoughts, here, here, here and here.

So what does any of this have to do with Job?

Job actually provides an interesting example of how God views rich people. Some people assume that God is automatically against the wealthy, because, well, they’re wealthy and God must hate wealth.

But nothing could be further from the truth.

In this opening chapter of Job, we find out some interesting things about the man. The first thing stated about him is that “he was blameless, a man of complete integrity.”

The second thing we learn about Job is that he was extremely wealthy. He owned land and livestock and the text says that “He was, in fact, the richest person in that entire area.” In today’s vernacular, we might say that he was INSANELY rich!

Another thing we learn from this passage is that God does not consider wealth evil. Notice in verse 8 that God tells Satan that Job is “the finest man in all the earth – a man of complete integrity.” God continues, saying that Job “fears God and will have nothing to do with evil.”

If God opposes wealth because it is evil, He could not claim that Job, who was in fact the richest man in the entire area, will have nothing to do with evil.

It’s clear from this passage that God does not consider wealth to be evil.

It’s also interesting to note that Satan himself recognized that Job was wealthy because God had made him prosperous.

For those who consider wealth to be bad or even evil, how is this explained? How is it that God could make Job the most prosperous man in the entire area and yet call him blameless – a man of complete integrity who will have nothing to do with evil?

Clearly, wealth is not evil.

I sometimes encounter others who will stipulate that wealth is not evil but what they really believe is that having SOME wealth is ok but having EXTREME wealth is bad. They may hesitate to call extreme wealth evil, knowing that nowhere in the Bible does God condemn wealth but they’ll use other words such as insane, outrageous or even “filthy rich”.

The truth is that we don’t understand what we haven’t experienced ourselves. I think it’s common for people to want to make themselves the norm and anything that is outside that norm is an easy target for criticism.

For example, I live in a South Orange County, an area that is known for it’s wealth. That doesn’t mean everyone who lives in this area is extremely wealthy but there are many communities in this area that are known to be areas where extremely wealthy people reside.

I find that it’s easy to criticize the person who lives in the “extremely wealthy” community and ask questions like, “why does that person need to drive that expensive kind of car when a less expensive car will do just fine?” Or, “why does a person need a house with 7 bedrooms and 5 bathrooms?” Or, “why does anyone need to own a vacation home, or a boat, or a yacht, etc.?”

This line of questioning and reasoning is senseless and meaningless. It tells us nothing about real people. After all, while you are questioning why a person in that rich community needs to live in a 4000 square foot house with 7 bedrooms, 5 bathrooms and a 4 car garage, there’s another guy, in the next town over, who is questioning why you need to live in a 2500 sqare foot house with 4 bedrooms and 3 baths when he himself is only living in an 1850 square foot house with 3 bedrooms and 2 baths.

The truth is that nobody really NEEDS to own those things. Plenty of people get along just fine without them.

I think our sin nature causes us to view those who have more than we do as ostentatious and we can question their motives and integrity.

Job teaches us a valuable lesson about this. First off, Job certainly didn’t NEED all the things he owned but God blessed him in such a way that he was EXTREMELY wealthy. God gave him way more than he actually needed and didn’t consider it bad or evil. Apparently, God doesn’t evaluate our integrity based on how much. or how little we have.

This was actually the nature of the the challenge Satan posed to God. He insisted that Job’s integrity was a result of his wealth. He contended that Job was not righteous at his core but it was simply an act based on the fact that he was well off. God allowed Satan to test Job in order to demonstrate that Job’s integrity was not dependent on his wealth and his circumstances.

So where does that leave us?

It leaves us with this conclusion: wealth is not bad. And EXTREME wealth is not bad either. Our integrity is not determined by how wealthy or poor we are.

Hence, there may be some extremely wealthy people who lack integrity and demonstrate an evil heart, but it is not the wealth that made them that way. At the same time, there are plenty of people who are extremely wealthy who have integrity and are blameless, wanting nothing to do with evil, just like Job.

Reflection

What are your thoughts and feelings towards people who are EXTREMELY wealthy? Do you have a hard time thinking that they could be godly people who are blameless and have integrity? If so, why do you think you struggle with those views?

Why do you think God would allow people to have enormous amounts of material possessions well beyond what they actually NEED? 

If God doesn’t evaluate integrity based on wealth, how do you think He makes that determination?

What do you think are the reasons that many people (Christians included) oppose those who are rich? What are some possible reasons driving those views?

 

Photo by Anastase Maragos on Unsplash

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He Who Dies with the Most Toys Wins!

Matthew 6

19“Don’t store up treasures here on earth, where they can be eaten by moths and get rusty, and where thieves break in and steal. 20Store your treasures in heaven, where they will never become moth-eaten or rusty and where they will be safe from thieves. 21Wherever your treasure is, there your heart and thoughts will also be.

22“Your eye is a lamp for your body. A pure eye lets sunshine into your soul. 23But an evil eye shuts out the light and plunges you into darkness. If the light you think you have is really darkness, how deep that darkness will be!

24“No one can serve two masters. For you will hate one and love the other, or be devoted to one and despise the other. You cannot serve both God and money. (Matthew 6:19-24, NLT)

The Daily DAVEotional

What does Jesus think about money and wealth?

Many insist that Jesus condemned wealth. Numerous passages are cited as proof that Jesus was a wealth buster. This passage is among them.

The argument that this passage condemns wealth goes something like this:

    • Jesus clearly teaches that we are NOT to store up treasures (i.e. money/possessions) on earth because those things have no eternal value. Instead, we should focus our efforts on storing up treasures in heaven.
    • Furthermore, Jesus warned that wherever our treasure is our heart will be also. So if we are storing up treasures on earth, then our heart will be focused on earthly things, whereas if our treasures are stored in heaven, then our heart will be focused on heavenly, or spiritual things.
    • Hence, Jesus clearly is teaching against earthly wealth.

I’ve written many blog posts on this issue, arguing that the Bible does not condemn wealth or the rich. This includes Jesus. Some of the more pertinent “wealth-condemning” passages are addressed here (Luke 12),  here (1 Timothy 6), and here (Ecclesiastes 5).

As is the case in those other passages, this passage, though using money (or treasures) as a context, is actually addressing a deeper issue.

This passage is addressing the issue of what we invest in. The question being posed is how exactly will we orient our lives?

On the one hand, we can orient our lives to pursue material possessions. This attitude is known as materialism.

Materialism is an ideology or an attitude that elevates material possessions above all else. Similar to being greedy, a person who is materialistic attempts to accumulate as many material goods as possible, seeking security, pleasure and even status through the things they own.

If you’re a person who lived through the 1980’s, you may remember a popular bumper sticker from that decade that read:

“He who dies with the most toys wins!”

This bumper sticker accurately and succinctly summarizes the main premise of materialism, that somehow, the main goal in life is to accumulate things, as if we’re all playing a giant game of Monopoly.

Jesus warns against this approach. When he talks about “storing up treasures on earth” I can’t help but think of someone who owns every new gadget and gizmo and even enjoys flaunting his innumerable toys to others.

In ancient times, one of the ways people flaunted their wealth and promoted their status was through their clothing. People didn’t have luxury cars they could drive around to show off their status, and they didn’t have the plethora of clothing options that we have today. But it was possible to have expensive clothes (see Matthew 11:8).

Jesus is saying that expensive clothes can be eaten by moths and rust can destroy fancy jewelry. Furthermore, any treasured item can be stolen. Of what value is it then?

The alternative to an ideology of materialism is to be kingdom-minded. Jesus urges His listeners to store up for themselves “treasures in heaven”. What exactly does that mean?

Jesus is talking about investing our time, our money, our very lives into things that will not be destroyed….EVER.

There are only 3 things that will last forever: God, His Word, and people. Therefore, it makes sense to invest our time and our treasure (money) into things that will have eternal impact – things that will make an eternal difference.

So Jesus is not saying wealth is bad and he’s certainly not condemning people who are rich. What he is condemning is materialism – the attitude that by hoarding material possessions, I will somehow experience purpose, meaning and fulfillment in life.

Jesus says that “where your treasure is, there your heart and thoughts will also be.” He also says that we cannot serve two masters. We cannot serve both God and money.

It turns out that materialism is self-defeating. If you make it your focus to accumulate things, then those things will ultimately become your focus. Essentially, it will become an idol in your life, squeezing God out of His rightful place at the center of your life.

So we have a choice. We can live by the bumper sticker adage that “He who dies with the most toys wins”, reveling in our many possessions while flaunting our status to others. Or we can recognize the futility of that approach, and choose to follow the suggestion of Jesus by serving God and living in such a way that our lives impact others for eternity.

Jesus reminds us that our earthly possessions don’t last and therefore are of no value to us in the next life.

As the rival 1980’s bumper sticker retorted,

“He who dies with the most toys still dies.”

Reflection

How would you respond to someone who says that Jesus is against money and wealth? 

Based on this passage, what do you think is the purpose or value of owning things?

Jesus is speaking against materialism, the idea that material possessions will bring meaning, security and even success. Do you think materialism is something that only wealthy people struggle with? Explain.

What do you think are some practical steps a person can take to avoid materialism?

What are some of the ways our culture promotes materialism? 

What are some practical ways a person can “store up treasures in heaven”?

 

Photo by Dave Lowe

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The Power of Multiplication

Given the choice, would you rather have $1 million given to you in a lump sum or ONE penny that doubles every day for 30 days?

If you’re like me, you might be thinking, “pennies are basically worthless….I’ll take the million dollars, thank you!”

This scenario, however, illustrates the power of multiplication, or, in financial terms, compounding. 

Compounding is so powerful that Albert Einstein is famously quoted as saying, “compound interest is the 8th wonder of the world. He who understands it, earns it; he who doesn’t, pays it.”

So what happens if you take the penny? At first, not much. After ten days, you’ll have just $5.12. After 14 days you still have less than $100. But on day 20 you’ll have over $5000. By day 30, due the power of multiplication, you’ll have over $5 million.

This illustration is often used to demonstrate the power of compound interest in building wealth. However, the power of multiplication also extends to ministry – specifically discipleship. 

Consider the example of Jesus. From a purely numerical perspective, one might consider Jesus’s ministry to be an abject failure. After all, though he preached and ministered to the masses, at the end of his life, he had only a handful of followers, and they all scattered when he was arrested.

But Jesus’s ministry was never about building the biggest following. Instead, Jesus focused on developing a few key people who would be able to carry on his ministry and provide foundational leadership for the church after he was gone.

The principle of compounding is illustrated in this table, which shows what can happen to a penny that is doubled every day for 30 days.

By investing in and developing a handful of individuals, the early church was able to sustain the explosive growth it experienced at the outset.

In 2 Timothy 2:2, Paul tells Timothy, “And the things you have heard me say in the presence of many witnesses entrust to reliable men who will also be qualified to teach others.”

Paul is instructing Timothy to follow a principle of multiplication in his discipleship efforts. Essentially, he’s saying, “I built into you, and now I want you to take what I’ve taught you and build into others. But don’t just build into anyone. Build into those who will be able to build into others as well.”

In other words, Paul is telling Timothy to be selective into whom he builds.

A powerful book that outlines Jesus’s ministry strategy is Robert Coleman’s Master Plan of Evangelism. The book is a short read (only about 100 pages) and the title is a bit of a misnomer because the book is not really a book about evangelism but instead, explains Jesus’s discipleship strategy, which employed the principle of multiplication.

Over the years, we’ve sought to employ this ministry principle in our own discipleship efforts. In fact, when we worked with students, we would often take our young leaders through this same book to teach them the importance of building multiplying disciples.

Robert Coleman first published The Master Plan of Evangelism in 1963. Since then, it has sold over 3.5 million copies.

Now those students are all grown up and living in various places all around the world. It’s amazing for us to see the impact they are having for Christ in the different settings in which God has placed them.

Now our focus is on Young Adults and helping them to walk with God and multiply their lives in a workplace environment. It’s a bit more complicated helping Young adults live out their faith in the big people world but the principles are the same – take the things we’ve learned and pass them along to others who will be able to do the same.

In this way, the number of people who can be a force for good and influence others for Christ will multiply over time. At first, the results might seem insignificant, just like that penny. But over time, it’s amazing how the principle of multiplication takes effect.

Please pray for us as we seek to multiply our lives into this next generation and help them become multiplying disciples for Jesus – men and women who impact others for Christ wherever God places them!

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The Challenges of Ministering to Young Adults

Not long ago, I was on a Zoom call with Edgar (not his real name), a Young adult I’ve had interactions with for the last couple of years.

Edgar was frustrated as things weren’t going the way he had planned. Already in his late 20’s, Edgar was still trying to figure out what his ultimate career would be. One option he was contemplating was grad school, the idea being that it would potentially set him up for a specific job/career he was interested in. But he wasn’t sure he wanted to spend more money on education given how much he had spent on his undergraduate degree and how little he had to show for it.

Many Young Adults are frustrated and disillusioned. Photo by Road Trip with Raj on Unsplash

Edgar was disillusioned. He told me that he felt like he had been sold a bill of goods. Education was supposed to be the avenue to success and happiness and yet, with mounting school loans and no solid, long-term career prospects, Edgar realized that his degree was not the golden ticket he had been promised.

Edgar is not alone. Today’s Young Adults are disillusioned about a lot of things. They are disillusioned about the economy and the “American Dream”. Especially here in California, many of the Young Adults we encounter have no expectation of ever being able to own a home.

They’re disillusioned with the world. They see inequity and injustice and they struggle to make sense of it all.

And many Young Adults are disillusioned with the Church, failing to see its relevance to modern culture.

Our culture is drifting further from its historic Christian roots and each new generation is experiencing less and less influence from traditional Christian teachings and morals.

Young Adults today have grown up in a post-Christian culture, meaning they know very little about who Jesus is or what Christianity is about. Spiritually, they are a blank slate.

Young Adults are increasingly irreligious in their views. Photo by Mitchel Lensink on Unsplash

About 1/3 of Young adults identify as atheist, agnostic or none. They’re not necessarily hostile to Christianity or religion, but they simply have no religious beliefs – it’s simply not important to them.

About 2/3 of Young adults identify as Christian but only 4% have a Christian ethic. Simply put, they consider themselves Christians but their lives don’t necessarily follow traditional Christian moral values.

This is not surprising since only about 6 out of every 10 Young adults believe the Bible is true.

Our culture has been heavily impacted and influenced by postmodernism, which is a philosophy that emphasizes a person’s personal experience as the supreme factor in determining truth. The end result is people who may identify with the Christian faith in a general sense but when it comes to moral values, their own experiences and preferences take priority over any biblical standards, which may be regarded as archaic and outdated.

How do we minister to people who are disillusioned and feeling hopeless when faced with the realities of life?

One of our strategies and priorities is to help Young Adults see that God is ultimately our only source of hope and His Word provides guidelines for successfully navigating life.

One of the ways we’re accomplishing this is by providing premarital mentoring to young Adult couples who are preparing for marriage. 

With so much brokenness in families and marriage today, we’ve found Young Adults are eager to hear how biblical principles can help them change the trajectory of their relationships and family history by providing guidance and direction for fulfilling and life-long marriages.

Dave led a group of Young adults through a 9 month curriculum on Biblical Stewardship and Money Management

Another avenue for helping Young Adults see the value of God’s Word in their daily lives is by helping them adopt biblical principles for stewardship and money management. Unfortunately, our consumer and debt-oriented culture doesn’t teach Young adults how to handle money responsibly and many Young adults cite finances as a major source of stress and anxiety in their lives. 

Young adults are looking for alternative solutions to experience financial security and experience prosperity. Many are surprised yet excited to learn that the Bible provides incredibly sound advice and wisdom on how to handle money and honor God through our finances and by applying biblical principles to our financial situations, we can experience financial peace.

Ministering to a generation that has become further removed from any biblical foundation is certainly challenging. But the Lord continues to move, directing us to Young Adults who are eager to know God and follow Him.

Thank you for your partnership that allows us to help Young adults begin to experience real spiritual life as they learn to apply God’s word to their lives.

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Biblical Investing Advice

Ecclesiastes 11

2Divide your gifts among many, for you do not know what risks might lie ahead. (Ecclesiastes 11:2, NLT)

The Daily DAVEotional

The Bible has a lot to say about money and wealth. Despite what many people in our culture think today, the Bible doesn’t condemn wealth or making money. Actually, Jesus himself encourages the wise steward  to multiply the resources entrusted to him/her by God and to seek to make a profit. I’ve written a number of blog posts on the subject of whether wealth is immoral. You can read my previous posts here, here and here.  Additionally, I wrote about God’s stance towards the rich here.

Though the Bible encourages people to make a profit and to multiply their financial resources, it doesn’t give a lot of guidance on how exactly we’re supposed to do that. When it comes to investing, the Bible has little to say that will yield any specific steps or strategies to guide us.

There is one verse however, that gives some financial wisdom on the topic of investing, and it’s found in Ecclesiastes 11:2.

In this verse, Solomon tells us to divide our “gifts” among many in order to hedge against risk.

What’s he talking about?

I like the way the NIV states this verse. It says it this way:

2Give portions to seven, yes to eight, for you do not know what disaster may come upon the land. (Ecclesiastes 11:2, NIV)

In this verse, Solomon is encouraging the reader to divide his investments into 7 or 8 different portions. Essentially, he’s encouraging the reader to diversify their assets in order to hedge against a potential disaster.

I found a blog post by Alice A. Anacioco to be especially helpful. She explains this passage this way:

You may be surprised to read King Solomon offering financial counsel as he nears the end of Ecclesiastes. But accordingly, Solomon was deeply involved in international trades with merchants. And just like today, one of the main trade commodities was grain.

The merchants of Solomon’s day would load their grains on ships and send them off. But instead of loading all of their grains in just one ship, he tells his merchants to put them in several ships and send them out in a diversified way so that if one of the ships should sink, he would not lose everything.

The main advice the Bible gives when it comes to investing is to diversify your investments. The idea is to spread your money out among different types of assets so that if one type of asset is negatively impacted by an economic event, the other assets may be unaffected and as a result, the entire portfolio will not be completely devastated.

Be careful though. Many people assume they are following this advice because they have placed their investment money into mutual funds. Many financial advisors will advise their clients to diversify their stock portfolio among many different stocks so that if one company performs badly, the positive performances of the other stocks may shield the portfolio from being completely torpedoed.

Mutual funds provide some level of inherent diversity because a mutual fund is already a portfolio of many stocks. Hence, if one company within the fund goes down, other companies may go up and thus the value of the fund may go up as well despite the poor performance of one or a few companies.

But being invested in a number of stocks or even mutual funds does not mean you are diversified. To truly be diversified and hedged against disastrous economic events, one needs to have their funds invested in different asset classes altogether.

Think about it. Stocks and mutual funds are part of the same asset class. When the market crashed in 2000 due to the dotcom bubble bursting, many people who had all their money in the stock market had their entire portfolio decimated. Again, in 2008 when the market crashed as a result of the real estate bubble bursting, many who were “diversified” because they owned many different stocks or mutual funds took major hits to their bottom line.

I have heard and seen too many stories of people who had their entire nest egg cut in half or worse by one of these two market events. And for those who were in retirement when it happened, the results have been disastrous. There simply is no time to rebound from these market crashes when you’re already taking disbursements during retirement.

Solomon’s advice is basically “don’t put all your eggs in one basket”. So if you really want to diversify, don’t have all your money in stocks and mutual funds. Invest in other assets as well (such as real estate, precious metals, commodities, etc.) That way, if the stock market crashes, as it inevitably will do, only a portion of your entire portfolio will be affected. And who knows, even while the market is crashing, perhaps the other assets will be unaffected or even increase. You may find that you are gaining overall instead of losing it all.

Reflection

What is or has been your investing strategy?

What steps have you taken or are you taking to diversify your financial portfolio?

Besides stocks and mutual funds, what are some other asset classes you could invest in to begin to create a truly diversified portfolio?

 

Photo by Precondo CA on Unsplash