Category: Biblical Principles
Removing Old Fences
July 8, 2019Recently I sat in a client meeting where we were starting to map out a farm succession plan for a family and the husband quoted G.K. Chesterton by saying “Don’t ever take a fence down until you know the reason it was put up.”. It sounded catchy but it didn’t quite click so I asked him to repeat it. I have thought of this moment now several times since. This really speaks to the core of why we do financial planning. When it comes to money and investment decisions, too often we let our emotions get in the way. That is why at Bare Wealth Advisors we don’t just pick investments or stick our clients in products that fit us…rather we take the time to work on values and purpose to keep our financial goals in alignment. These life values and purposes are really the fence put up to give the framework for a financial plan. So, when the storms of life or the market cause mountains and valleys on the dot chart of our statements we can be here to remind you why the fence was put up in the first place. Having an advisor that can call you back to your values and to the plan is key when volatility seems to be the norm.
If you already partner with us on your stewardship journey, thank you for trusting us to help you build the fence. If you don’t work with an advisor that calls you to value based decisions we would love if you would consider us.
By Lamar King
Generosity in Community
April 29, 2019As we continue to explore what generosity looks like this year, we found this video encouraging in regards to living in community together. Having close friends or advisers you can be vulnerable with in regards to finances can spur generosity and bring great contentment and joy. Please pass this along to others you know who will be inspired in their generosity.
This video is courtesy of Generous Giving. To learn more about Generous Giving, click here .
Greg & Alison Baumer from Generous Giving on Vimeo.
Generosity Video
March 14, 20192019 is the Year of Generosity at Bare Wealth Advisors. Throughout the upcoming year, we will be sending out several videos that we have found to be inspiring. Please pass this along to others you know who will be inspired in their generosity.
This video is courtesy of Generous Giving. To learn more about Generous Giving, click here .
Core Values
September 7, 2018by Ron Bare
What is the purpose behind setting core values as a business? Did you ever wonder when walking into a business and seeing values on the wall how were they determined and does the company really strive for excellence, integrity or the other words listed?
At Bare Wealth Advisors we believe that core values are essential to have as an organization. These values help us determine how we will behave on a daily basis – they describe who we are as a company and keep us focused on acting in a way that aligns with the values we have established. The Bare Wealth Team recently spent time taking a deep look into the meaning of our values and have established some thoughts to go with each value. As our trusted clients, I thought it would be helpful for you to know what our values are and how these values help us fulfill our purpose as a company which is to: Help our clients intentionally manage wealth that aligns with their God-Given Purpose.
- Stewardship – We believe God owns everything and managing faithfully what is entrusted to us leads to growth in resources, responsibility, and influence for the purposes of God.
- Biblical Wisdom – Applying the timeless principles of God’s Word to our financial stewardship creates contentment, clarity, and freedom.
- Excellence – Upholding a standard of excellence compels us to give our best in unselfish service to others
- Integrity – Being authentic and transparent promotes wholeness and confidence in the trustworthiness of our stewardship.
- Generosity – Cheerful and generous giving inspires others in their purpose, enriches relationships, and expands the influence of the resources we manage.
By putting some thought behind each value, it provides additional meaning to the values we have set. This will help us continue to pursue excellence in our areas of expertise while making Biblical Stewardship a priority as we operate and provide advice. However, ultimately it is our sincere hope that these values help us help you be a faithful steward and make a difference with what has been entrusted to you!
Retirement With A Purpose
May 1, 2018by Ron Bare
Bare Wealth Advisors is making 2018 a year focused on purpose. One topic that should be discussed in this context is the subject of retirement. Many studies have shown that people who retire from work without a plan or purpose for the next phase of life are more likely to be discouraged, depressed, and disappointed about their life. Statistics also show that those who retire and have no purpose do not live as long as those who have a purpose clearly defined going into this transition. So this begs the question: How do I retire with a purpose?
Here are a few strategies that may help you plan for a purposeful retirement:
- Consider how to spend the extra time on hand: On average we spend about 25% of our time each day at work – that is a considerable amount of time. Rest and leisure are nice and can use some of this time but if all of it is used for rest and leisure you may find yourself in the statistics above.
- Action Step: Make a list of 5 – 10 areas of life you wish to be more intentional in such as health, family, travel, service, etc. Then determine one or two ways to take a step to live more intentionally and purposefully in these areas.
- Define your work: We were made to work. In Genesis, God made Adam and Eve and put them in the garden to work and take care of what was created. God is the ultimate Creator and humans created in God’s image are sub- creators. We are designed to take what God has created on the earth, improve it, and build upon it. Each person has been created with unique gifts to be used in this creation work. Part of our purpose is our work during our careers but even after “retirement” we can find work that fits our gifts and abilities which helps to improve the world around us. Ron Blue uses the term “re-hirement” to describe retirement. Personally, I think this is a good way to look at retirement in that it signals a transition to a new phase rather than a complete stopping of work all together.
- Define “How much is enough?”: After you know what your purpose and plans are for retirement, you should be able to determine how much money will be needed to fund your retirement planning goals. Saving and investing to be able to fund your goals is prudent planning and can help you live a “re-hirement” strategy of your dreams. In this process I have seen that determining how much is enough and setting personal financial finish lines can be part of an intentional plan and help you live retirement on purpose. Excess funds can be used to help you do more than you thought possible in some of the areas listed above. Wealth can be used in a variety of ways when you have an intentional plan for your family, ministry/service work, a new business, community improvement, health and education, etc. Part of your work in #2 above can be strategically allocating financial resources to the areas that are your heart’s deepest desires – I have seen this to be very fun and fulfilling “work”.
Like most areas of life, retiring on purpose takes some planning and intentional work. However the results of this work can lead you to a fulfilling and purposeful “re-hirement”. Many people in life start strong but only a few finish strong. Let’s be a generation that finishes strong by living our remaining years on this earth on purpose!
Purpose
April 2, 2018by Ron Bare
Purpose is defined as “the reason for which something exists” and also “an intended or desired result”. Living a life on purpose means that we first understand there is a reason we are here on this earth and that we are not an accident. Second, it means we should live life on purpose by being intentional in all areas of our life.
As busy people, we can sometimes look for balance in our lives – we even use phrases like “finding work/life balance”. Although there may be some good that comes from not being too focused on one area of life that it negatively affects the other areas of life, perhaps a better way to look at life is to live to the fullest in each area. We are not created to separate our lives into different components or departments acting independently of one another, but rather each area of our lives should work together to complete a beautiful picture of life to the fullest. Jesus said he came to give and provide a full or abundant life (John 10:10). A life of abundance or fullness is not a life of compartments, but rather a life of integration.
As an example, how can I have an abundant life if my job or work life is going well but my marriage or family life is a wreck? If I make terrible financial decisions don’t you think that will trickle into my relationships and emotions? If I have the best marriage in the world but treat my children with no respect or give them no time, do I still have a “full” life? No, each area of our lives affects all parts and to live a full life of purpose we must work on the following:
- Define your purpose – you should first know why you exist and how this relates to the current season in life. We are a Masterpiece or the most special creation (see Eph. 2:10 below). Without a good understanding of who we are it will be hard to make much progress in reaching our purpose.
- Live intentionally – nothing happens unless you make intentional decisions. Each area of your life will take intentionality for you to experience fullness. Good marriages take hard work – good careers take effort and education.
- Be faithful – Most successful people in life will tell you it is the small decisions they make each day that help them accomplish the goals and purpose they have in life.
- Define your work – Ephesians 2:10 “For we are God’s masterpiece. He has created us anew in Christ Jesus, so we can do the good things he planned for us long ago.” God created us to do “work” and work can be enjoyable and have meaning when we understand it is all part of our purpose in life.
As you reflect on the above thoughts consider the following questions until our next blog:
- What areas of my life are thriving?
- Which areas are suffering?
- How are the thriving and suffering areas affecting each other?
- What is one thing I can do to be more intentional in each area of my life?
End of Year Generosity
December 1, 2017By Ron Bare
We are approaching the end of another year – if you’re like me you often wonder how the year went by so quickly and you begin to understand that our time on earth is short – even if we live to age 100!
Since time is short, we must look to make the most of the resources God has entrusted to us. As you reflect on another year and make plans for the next, consider the following thoughts on generosity that will help us leave a legacy well beyond our time on earth.
Excel – In 2 Corinthians 8:7 Paul talks about excelling in your grace of giving. Just as we work hard to excel in school or our careers, we should also work hard to excel in our grace of giving. The best way to do this is to push ourselves to a higher standard than the year before.
Decide – In 2 Corinthians 9:7 Paul also tells us to decide in our hearts how much to give and to do it cheerfully. We should decide in our heart by setting goals and committing to giving back to the Lord the best or first of all our resources. We should do this not because we have to but as an overflow of our love for Christ who died for us.
Be ready – I Timothy 6:18 Paul again tells us to be ready to share with others and by doing so we will be storing up treasures for the future. I’m not exactly sure what these treasures include, but I believe Jesus when he said “It is more blessed to give then receive”. You never know when God will prompt you, so be ready to share – and be blessed!
We often set goals near the end of a year for the upcoming year. This year why not DECIDE to set some giving goals for 2018 that will help you EXCEL in generosity, so more people will be blessed! In this way you will be READY to share with those in need and store up treasures for your future.
Overcoming Financial Anxiety
July 7, 2017Financial anxiety is a feeling that many people experience. Whether someone has a large amount of resources or a small amount, it is common to experience some level of anxiety in one’s lifetime regarding money. So, how does one avoid experiencing this anxiety?
To begin, we have to look at the heart. In Proverbs 4:23 Solomon writes, “Keep your heart with all diligence, for out of it spring the issues of life.” (NKJV). Some versions begin the verse with “Guard” instead of “Keep”. If we are not constantly guarding our heart, we can quickly fall into the temptations and patterns of this world. We need to transform our hearts to align with the Bible and God’s desires for our lives.
When we begin to worry, we are focusing the eyes of our heart on something other than God. I once heard it said that worry is a form of worship whose object of worship is the future. When we look to the future and begin to worry, we are often imagining the future without including God in the picture. When this happens, our worry increases and we may become paralyzed with fear.
So, how do we overcome this anxiety? One important step is to learn to give thanks in every situation. Whether you are worried about how to make your next mortgage payment or worried about your investment accounts losing value, you can be thankful. If you’re concerned about making your mortgage payment, give thanks that you have the opportunity to own a home. If you’re concerned about your investment accounts losing value, give thanks for the abundance that you have and that you have money saved.
In Philippians 4, Paul writes that he has learned to be content in every circumstance. Notice that Paul writes that he learned to be content. This wasn’t something that came naturally to him. He had to learn contentment. I believe that each of us also needs to learn to be content and it’s not something that comes naturally.
In closing, my challenge to you is to invite God to search your heart and expose the sources of anxiety in your life. As He brings these areas to light, find something to give thanks for and pray for His peace to fill your heart.
by Curtis Burkholder
Five Reasons to Have Money in a Savings Account
May 31, 2017One financial recommendation clients sometimes think is boring and unnecessary is to have money in a savings account. We normally recommend that a working family have between three to six months of their living expenses in a savings account. For a retired family, we recommend having up to one year of living expenses in a savings account. For a business or a nonprofit organization, we recommend they have at least one month of operating expenses in a savings account. With that in mind, here are five reasons why it makes sense to have money in a savings account:
1. For unexpected expenses
Whether you experience the loss of a job, unexpected healthcare costs, or an unexpected automobile repair, there always will be things that are unexpected financially. If these costs are more then we can cover with our normal income, having money saved is a great way to cover these expenses.
2. To avoid borrowing
You may need a vehicle, want to go Christmas shopping, or just have some things that you want to fix up around your home. If you don’t have money saved for these, you will need to borrow for these expenses. By borrowing money for these expenses, you will have to pay for them over a number of months or years; and usually you will pay interest on the money borrowed. This may mean that a simple Christmas shopping trip could cost you a lot more then what you planned.
3. To meet someone’s need by giving
Paul tells us in II Corinthians 9:8 that we should “have an abundance for every good deed”. If your neighbor loses his job, the local fire company is having a fund drive, or your church asks you to consider helping a missionary that is in need, you can always be ready to give with money that is in a savings account.
4. Be able to take financial risks
Knowing that you have a surplus set aside in a savings account, allows you to take on the risk of losing money when initially opening a business, buying a real estate investment, or purchasing the stock of a company. Even if these investments lose value or fail, you can know that you have some stability by having money set aside in a savings account that is not at risk of being lost.
5. God says that it’s wise to save
Proverbs 6:6-8 “Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest.”
The goal for money in a savings account is for it to be safe and available. That means the money is not at risk of being lost where it’s invested and you can get to it quickly if needed. With that in mind, here are a few places to consider saving money.
1. Your local bank savings or money market account
2. An online bank savings or money market account
3. A money market mutual fund
If you have questions on how much you should set aside in a savings account or where to invest it, please give our office a call. One of our advisors would be happy to talk with you.
by Ryan Kurtz
Contrasting the World’s View and the Bible’s View of Money
November 30, 2016What does the world say about money? It seems to suggest that money itself can offer us success, security, and significance. It seems to offer a promise that if we only have a little bit more, we’ll be happier. Is this true though? When we look around – or within – do we see money equating to these things? Even those in the United States considered to be in poverty have 85% more wealth than the rest of the world. And yet we are surrounded by fear, insecurity, and discontentment – far cries from success, security, and significance.
Why is this? We believe it’s because the world doesn’t understand money, or at the least is offering false promises about it.
If you’re reading this, you most likely agree that the Bible has a lot to say about money, and provides some clear answers and solutions regarding money management. A link to a video summarizing some of these principles is included below, and serves as a framework for how we advise clients in their own money management. Take three minutes and watch the video produced by the Ron Blue Institute and shared to us with their permission.
Do you know of a friend or family member who may benefit from watching this video? Feel free to pass this link to the video on to them as well.
We’re all on this stewardship journey together, no matter which step we’re at in our process. And it’s our honor to walk this path with each of you.
Click here to view the video.
The Team at Bare Wealth Advisors