20 Wise Tips to Live By
It's good to gain knowledge on many things. To gain knowledge is based on having an understanding of a particular subject matter (finances, health, relationships, careers, etc.). Whereas knowledge is gaining an understanding, wisdom is knowledge rightly applied.
As we go through life we all need wisdom to make wise choices and decisions that affect us and those we encounter.
Consider the following 20 Wise Tips to Live By:
- Make new friends, but not at the expense of the old. New friends are silver; old friends are gold.
- He who tries to do something and fails is much better than he who does nothing and succeeds.
- It is never wise to argue with a fool. Bystanders don't know which is which.
- Be not only good, but be good for something.
- Success is not so difficult....Just bite off more than you can chew. Then go out and do it!!
- One of a man's greatest tests of strength is the will to correct his own weaknesses.
- We will find time for anything we care en...
The Lottery
When it comes to financial stewardship what does God's word say about chance or luck?
Let's look at one way people financially engage chance or luck. Let's talk about the lottery.
The definition of lottery is:
-
a means of raising money by selling numbered tickets and giving prizes to the holders of numbers drawn at random
-
a process or thing whose success or outcome is governed by chance
We are in a day where people are fascinated by get-rich-quick schemes. We are also in an age of instant gratification. Lotteries are being promoted as a simple way to get what we need. But is it really that simple?
Americans spend tens of billions of dollars on government-run lotteries each year. But as income inequality widens, low-earning households spend a disproportionate amount of money on lottery tickets according to a new study by Bankrate.com.
The lowest-income households in the U.S. on average spend $412 annually on lottery tickets, which is nearly four times ...
I’LL NEVER FORGET!
Many people have unforgettable moments or experiences that leave significant marks on their lives. These experiences can be terrifying, terrific, victorious, or failing. I’ll never forget my experience. It happened in the fall of 1980 in Santa Clara, California. That city has an awesome amusement park called “Great America”. My mother had a business meeting at its conference center and asked that I accompany her on the two hour trip. As an eleven year old boy who wouldn’t take up the opportunity to hang out all day at an amusement park?
When we arrived at the conference center I was to meet up with the family of one of my mother’s business associates and hang out with them at the park. Unfortunately the family never showed up. I was at the conference center with my mother with no one to accompany me to the amusement park. To say I was disappointed would have been an understatement. One of the business executives at the meeting happened to notice I and my mother’s situation. H...
Let's Talk Social Security (Part 2)
One question that comes up a lot with Social Security is, "How is one insured or qualifies for Social Security retirement?" The answer lies in how much one pays into Social Security. The way Social Security calculates "being insured" is through one's earnings from employment or self-employment. Those earnings are looked at as credits. According to the Social Security Administration, in the year 2020 each $1,410 in earnings equals one credit. You can earn up to four credits per year. An individual needs 40 quarters throughout their work history which equates to 10 years of Social Security taxes paid in to be eligible or insured for Social Security retirement benefits.
Another question that arises is, "When can one file for retirement benefits or how early can one file for Social Security retirement?" The earliest a person can file for Social Security retirement is age 62. An individual who files early must also understand that by filing early they are locked int...
Let's Talk Social Security (Part 1)
When Social Security was set up back in 1935, it was set up as a pay as you go type of system. Basically the workers of the day were funding the retirees of the day. The way one receives Social Security retirement and/or Social Security disability benefits are through FICA (Federal Insurance Contributions Act) taxes that are paid from employee's wages. In other words the FICA tax is the money that is taken out of workers' paychecks to pay older Americans their Social Security retirement and Medicare (Hospital Insurance) benefits. It is a mandatory payroll deduction.
When it comes to retirement, Social Security for many is looked at as the main source of income for their retirement. I need to say that Social Security was never set up to be a person's only means for retirement. Most financial experts agree that it would take about 70%--80% of one's pre-retirement income to live comfortably in retirement. Social Security was only set up to provide just 40% of that. Socia...
There is hope!
You know life can be full of pressure or even seem overwhelming. These pressures can come in the form of relationships, careers, the raising of kids and even one's physical health. One of the biggest pressures or what seems to be overwhelming a lot of people in our culture today is in the area of finances.
When you hear the following statistics it can be overwhelming.
78% of people live paycheck to paycheck
Approximately 66% of people would struggle to pay for a $1000 emergency
The number one reason for marital discord or divorce is money fights
The average household income is $56,516, 24% of income goes towards consumer debt on average
Student Loans have become the largest debt consumers are paying off at over a trillion dollars
Over 60% of Americans have less than $25,000 saved for their own retirement
Many people in financial frustration have thrown up their hands stating "There is no hope!" I strongly disagree!
Keep Going!!
Have you ever had the strong temptation to give up because you didn't see the progress in what you are trying to accomplish? Maybe it was working on a special project, earning a degree, having a happy marriage, losing weight, or even getting out of debt. What's especially challenging is the fact that we live in a fast-paced instant gratification world where everything just about seems to have to happen right now! I know I've been challenged with these temptations especially in the area of my business. I've questioned at times is it worth it? Will I ever see results? Is it worth the time, effort, and energy I'm putting in?
Recently I read a fascinating article about the Chinese Bamboo Tree. I read in the article that the seed is planted in the ground and the planter waters and fertilizes it but sees no immediate results. A year goes by, two years, three even four years with the planter continually watering and nurturing the ground where the seed was planted with no result...
How Do I Spend This Money During This Pandemic?
There is no doubt that this COVID-19 pandemic has affected everyone on this planet in one way or another and given us all great pause. Millions have been infected by the virus, hundreds of thousands have lost lives, and many families and homes have seen dramatic changes in how they function from day to day.
Another area where many received a major blow during this pandemic is in their wallets. Here in America over 20 million individuals are unemployed, furloughed, or had their incomes drastically reduced because of business closures and shelters-in-place across the country. This has unfortunately resulted in many wondering how they are going to make ends meet. The U.S. Government recently passed the which basically provides fast and direct economic assistance for American workers, families, and small businesses, and preserve jobs for American industries. One provision of the CARES Act has provided Economic Impact Payments (stimulus checks) to millions of Amer...
God's Economy
You know in the midst of this pandemic one thing that has really suffered is the economy. I'm not just talking about the American economy but economies all over the world. As a result of failing economies stock markets have crashed, millions have lost their jobs, people have lost their investments, and long time businesses and companies have closed or filed for bankruptcy. You may be reading this now and are feeling the effects of what I just described. The world's economies are built on limited resources for an unlimited demand; however I want to talk about God's economy. The stark difference is by living in his economy one can survive and thrive.
I want to talk about God's economy in the aspect of five principles.
Quantity of resources
Ownership of resources
Multiplication of resources
Purpose of commerce
Approach to commerce
Quantity of Resources
I mentioned earlier that man's economy is based on limited resources for...
Are You Ready?
Lately I've had a lot of people ask me..."When are you retiring?" My response to them is always, "Retirement for me is not an age but rather a financial number". In other words I am not so much concentrating on the age of retirement, but rather if I and my wife will have enough financially to live on in retirement.
It is important to consider the fact that people are living much longer into their retirement years. In some instances people are living 20 or 30 years into their retirement.
It's also important to note that most people fail to invest in their dreams, but willingly invest in $5 cups of coffee, $200 gym shoes, $300 jeans, $500 phones, $3,000 computers, and $50,000 cars that will be outdated in two years or used up in two minutes. The scary fact is that over 60 percent of Americans have less than $25,000 saved for their own retirement. Lifetime cost of healthcare alone for a 65-year-old American couple is now over $280,000.