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Staying the Course During Market Volatility
April 8, 2025by Ron Bare
Along with most Americans, we’ve been watching closely as President Donald Trump declared April 2nd to be “Liberation Day” and implemented broader tariffs than anticipated by economic watchdogs and television pundits. These tariffs, which include a 10% duty on all imports to the U.S. and meaningfully higher rates for some countries in particular, have had an immediate negative impact on the markets and led to concerns about a potential recession and increased market instability.
As always in times of such volatility, it’s natural to feel anxious about your investments. The rapid swings in stock prices can stir emotions, but it’s essential to remember that historically markets have demonstrated resilience over the long term, even in the face of policy-induced volatility.
J.P. Morgan Asset Management’s oft-quoted research illustrates the importance of staying invested through turbulent periods. In one study, they analyzed the performance of a $10,000 investment in the S&P 500 between January 2004 and December 2023. If the investor stayed fully invested, the average annual return was 10.4%. However, missing just the 10 best days during that period cut the return to 6.1%. Missing the 20 best days dropped it further to 3.5% (see the data here). The impact of being out of the market for even a few key days—most of which tend to occur during periods of heightened volatility—can be dramatic.
“The stock market is a device for transferring money from the impatient to the patient” – Warren Buffett.
As the ‘Oracle of Omaha’ reminds us in the above quote, it’s important to keep in mind the psychological impact of market volatility. Behavioral finance studies suggest that the pain of losses often feels more intense than the pleasure of gains—a concept known as loss aversion. This can lead to panic selling, which often locks in losses and prevents investors from participating in subsequent market recoveries. Staying focused on your long-term goals and resisting the urge to make hasty decisions can help you avoid these pitfalls.
While this is the largest wave of American tariffs since President Hoover signed the Smoot-Hawley Tariff Act in 1930, it’s essential for us to maintain a long-term perspective. Reacting in fear or attempting to time the market during such periods can lead to missed opportunities and diminished returns. By staying the course and focusing on your long-term investment objectives, you position yourself to navigate through this volatility more effectively. Please see below for helpful graphic information on the value of staying the course.
As always, our team is here to support you in aligning your investment strategy with your financial goals, helping you navigate these uncertain times. Be on the lookout for additional communications and resources from our office in the coming days. In the meantime, we are available to talk if you’d like to reach out and discuss anything on your mind.
Helping You Plan Well for Retirement
March 19, 2025
by Adam Black
Retirement is a significant milestone in American culture – a chance to reflect on your life’s journey and accomplishments. As you reflect, looking back in the rear view mirror of your life, what do you hope to see?
This year at Bare, our theme is Year of Increase. We believe in helping you expand your vision for all that you’ve been entrusted to steward. Many of us understand the call to steward our resources, but Matthew 25 reminds us of the call to also increase what we have been given! How can we plan well for retirement and increase our resources, so that we can serve our families and communities?
Planning for retirement can feel overwhelming, but taking time to make informed decisions is the key to being set up for a secure future. Inviting a financial advisor into this process can help make the process smoother. Today, we’ll answer 3 common retirement questions, to help us all approach retirement with confidence, clarity, and a vision for increase.
- At what age should I take my Social Security?
Social Security has been a hot topic in the news recently! I’ll be the first to admit that I don’t know what will happen with it over the coming years. What I do know is that it can play a large role in any retirement plan. When is the best time to take Social Security? It varies, but before a decision can be made, it’s important to understand some of the rules.
Social Security can be taken as early as age 62. It is important to note, however, that taking Social Security at 62 will result in a reduction of your Full Retirement Age benefit for the rest of your life. Full Retirement Age for most people today is age 67, which is when you are entitled to your full benefit. The latest age that Social Security can be taken is age 70. For each year that you delay your benefit from Full Retirement Age until age 70, you will get an 8% increase on your benefit for the rest of your life as long as you were born after 1943.
If you plan on retiring on the earlier side, it may make sense to take your Social Security benefit, but if you never plan on slowing down (I’m looking at you, farmers), it may make sense to get the largest possible benefit by waiting until 70. If you have a family history of health concerns, you may want to collect earlier to get benefits for more years, but if you plan to live until 100, you will receive more money over your lifetime by delaying. Everyone’s financial, health, and retirement goals are different, so inviting a trusted financial advisor into this process can help you maximize your Social Security benefits.
- What do I do about health insurance?
For those retiring at 65 or later, Medicare most likely is the answer. After all, you have been paying into it for nearly all of your working life – you might as well take advantage of it! Medicare is made up of a few parts that each serve different purposes.
Medicare Part A is hospital insurance. It covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health services. Most people don’t pay a premium for Part A because they paid Medicare taxes while working.
Medicare Part B is medical insurance. Part B covers outpatient services, including doctor visits, preventative care, lab tests, outpatient surgeries, and some home health care. The monthly premium is taken directly from your Social Security benefit if you are collecting. Most people do pay deductibles and copays for services.
Medicare Part C, or Medicare Advantage, are private plans that offer all the benefits of Parts A and B, and additional services (dental, vision, hearing, etc.). Medicare Advantage plans usually include prescription drug coverage and have out-of-pocket cost limits, so it could be a more advantageous health coverage option for you.
Medicare Part D helps cover the cost of prescription medications, either through stand-alone prescription drug plans or as part of a Medicare Advantage plan.
Finally, Medicare Supplement Insurance, or Medigap, helps pay for out-of-pocket costs like copayments, coinsurance, and deductibles.
- Are my investments protected?
It’s understandable that retirees may worry whether their hard-earned nest egg will lose value, especially when they have no plans to return to work. Any investment outside of cash or an FDIC-insured product like a CD does carry some risk. Yet if all of your investments were cash, they would likely be beat out by the cost of living. So how can you ensure that your money is protected for short-term needs, while making sure it outpaces inflation and lasts a lifetime?
One of our favorite approaches is ‘segment planning,’ which involves defining how much is enough for you in each phase. The first phase aims to protect money from loss of principle that you need in the short term (roughly the next 5 years) by using products like cash and CDs. After this segment is filled, we plan for segment two which are years 6 – 10. For this segment, we often use investment products like fixed annuities or bonds. In segment three, which are years 11+, we look to outpace inflation with higher risk investments that offer a higher growth potential. These investments might include stocks, real estate investments, or growth-focused mutual funds and ETFs. We have seen the stock market grow in most 10-year windows, which gives us confidence to move forward. Even if a segment decreases in value in year one, there is time for it to recover. As you progress, funds from later segments move into the adjacent segment, ensuring that the next few years of necessary funds are available and as close to risk-free as we can get.
There’s a lot to consider in retirement, and I’m sure that this blog raised questions that I couldn’t address today. Retirement planning is a serious endeavor, and many people underestimate how impactful it can be to work with a trusted advisor. I often hear, “I wish I would’ve met with an advisor sooner,” but the key is that they are meeting with one now, instead of 10 years from now. I’d encourage all upcoming retirees to find an advisor who is trustworthy, aligns with your values, and has your best interest in mind. They will help give you confidence to step into retirement, whenever the Lord calls you into that season.
Year of Increase – Creating a Vision for our Resources
February 10, 2025
by Ron Bare
Have you ever met a visionary? Maybe you’re one yourself. I’m talking about that person who seems to have endless ideas, always sees the big picture, and is always trying to fit 100 pounds into a 50-pound bag. Though our visionary friends do have some drawbacks, I’m convinced they bring something to the table that each of us can learn from.
This valuable trait that visionaries have is simply having a vision and being able to look beyond the current moment. Here at Bare, we often refer to our vision as “Beyond Abundance.” When we look down the road 5, 20, or 50 years into the future, what we hope for our clients is not that they’ve become rich, but that they’ve lived a rich and full life. We pray that our clients have been blessed beyond their basic needs, and that they have served others with their abundance. We also pray that our clients have taken a good, long look at their resources and considered how they might bring an increase to them for the good of others.
How can we ensure that at the end of our life, we’ve done this well? Investing and growing our finances, time, and resources is no small feat, but it is worth it! Ephesians 3:20 and 2 Corinthians 9 both remind us of this reality – that when we sow, we reap. As you take a look at your life, what has God placed in your hands? How can you invest and grow the resources that God has given to you? What kind of impact can your resources have on others?
We can talk about these principles all day, but it’s crucial to take time to nail down what this actually looks like in your life. We want to intentionally create a vision for our resources, and vision first begins with inventory. To aid in this process, we’ve crafted the Beyond Abundance Inventory Sheet. This tool helps us think about exactly what resources God has given to us and how we can bring an increase to them for His glory.
The first resource on the inventory sheet is our financial resources. Whether a salary, an inheritance, or ownership of a business, financial resources are easy to see. After we know what financial resources we have, we can consider giving, investing, or planning how our business can serve others. These resources are so tangible, but certainly not all there is.
Intellectual resources might include a high school or college education. They might include a specific skill that you are trained in, or unique experience that you have. They may even include financial literacy. These are the kinds of gifts that are important to continue investing in, and as learning continues, are important to pass on to others through teaching and apprenticeship.
Relational or social resources come in the form of people. You’ve heard it said before: who you know is often more important than what you know. Many of you know this principle to be true because you’ve lived it. One of my favorite ways to watch networks serve the community is through banding together to solve a problem. Often, one person or organization does not have all of the solutions to a problem, but when networks work together, things get done. How can you work with others to solve big problems?
We also believe spiritual resources are critical. It is such a gift to be able to live in a time and place in history where spiritual resources are easy to access – whether a church, pastor, or our Bible. Going one step further and inviting others to join in is where true transformation happens.
The last category on the Beyond Abundance Inventory Sheet is physical resources. This includes those tangible things – housing, food, and clothing. Though many of us are blessed, many of our neighbors are under-resourced in this area. How can we use our physical resources to come alongside them? Whether buying properties and renting them at fair rates or donating food to food banks, there are plenty of ways to serve.
At Bare, we believe that stewardship and generosity are important. That’s why our impact statement highlights these two ideas: through intentional stewardship and extravagant generosity, we help generous people shift the culture and change the world for the glory of God. Would you join us on this mission? We’d love to have you!
Exploring Biblical “Increase” in 2025
January 10, 2025
by Ron Bare
Each year at Bare, we choose a theme to focus on that guides us both internally and externally. As we considered the theme for 2025, we chose “year of increase.” At first glance, it may seem practical for a wealth advising firm to have a focus on increase. However, this year is not about increasing wealth for the purpose of becoming wealthy, but rather for the purpose of increasing our influence. Our culture tells us that we will ‘win’ if we can grow our wealth, get the highest rate of return, or show a higher net worth statement at the end of each year. Yet this cultural view falls short of the Biblical view of success, influence and increase.
The Biblical view of bringing an increase to what we have been given draws us to look at two places – the origin of life in Genesis, and a parable in Matthew 25. In these passages, we see that growing and increasing the things God has entrusted to us is an important piece of stewardship. Does this exclusively refer to money? Is bringing an increase in all areas even within our control?
We have found that a great way to explore these questions is to start at the beginning – the very beginning. In Genesis, we see God’s final and most stunning creation: humanity. He created human beings and gave them a few instructions: to multiply, fill the earth, govern the earth, and rule. He gave it all to humans and said, ‘it is yours!’ This can easily be a passing thought, but when we stop to reflect on what God has done, we are reminded of the incredible gift – not just to enjoy creation, but also to steward it! (also read Ps. 8, Gen. 1 and 2, and Matt. 25). I don’t know about you, but I’m not sure I’d want to hand over the keys to my creation to someone else!
God has given over His creation to us for the time being, and much like the master in the parable, He will return to see what we have done with it. In the parable in Matthew 25, both servants who increased what had been given to them were praised, while the one who buried it in the ground was punished.
Readers of this story tend to react through one of two extremes, neither of which we ascribe to. One extreme is the reader who believes that God will always bless them exponentially, and that if they just trust Him, wealth is not far behind. The other extreme is the reader who is filled with fear, like the final servant in the parable. This person is afraid of risk and afraid of losing what was given to them, so they do nothing with their assets. This person doesn’t work, invest, or give.
Unlike the person enamored with the prosperity gospel and certainly unlike the fearful servant, we want to focus on increasing our resources for the glory of God, so that we can give, serve, and shape culture. Our tagline at Bare is “Beyond Abundance,” and we believe it helps us carry a vision beyond simply amassing wealth. Instead, it is centered around influencing the world for good. Living “beyond abundance” assumes a confidence in God, acknowledging that He can richly provide for us beyond what we need, so that we can generously share with others. A “beyond abundance” way of living offers freedom and opportunities to live a life of fullness, and to impact the world far beyond what we could do on our own.
In 2025, we will explore together what it means to steward all that God has given to us to carry out these instructions. Stewardship is first an understanding that we are not the owners but rather the managers of what we have (earth, wealth, time, talents, etc.) and secondarily an understanding of the responsibilities that come from the owner (God). We will focus on four key areas this year – our vision, our work, our wealth, and our influence. Join us as we consider how intentional stewardship and extravagant generosity can impact the world to be just as it was originally intended – an environment where humans can flourish.
Passing on Biblical Wisdom to the Next Generation
November 1, 2024
By Ron Bare
While stopped at a red light today, the image on the box truck in front of me caught my eye. There, displayed on the back of the truck, was an image of a family enjoying a meal together. All of a sudden, I found myself craving a delicious holiday meal. (Thankfully, those meals are just around the corner.) Even more than those meals, I found myself craving quality family time. That advertisement was sure doing its job! The holidays are a beautiful time to spend time with those you love most, and I hope you get to enjoy the gift of family in just a few weeks.
Not only are the holidays filled with food and family time, but they’re also filled with conversation. What topics of conversation typically fill your table during the holidays? Our conversations often revolve around life updates, stories from work, excitement for the new year, and family memories. As I look ahead to the holidays this year, I wonder if there’s a new topic of conversation we could, and perhaps should, bring to the table.
What would it look like to start intentionally passing on wisdom to our families? I truly believe that passing on wisdom to the next generation is one of the best ways to be faithful with what we have been given. It is a beautiful opportunity to leave a lasting legacy. When those we love can learn from our mistakes without having to make the mistake themselves, it saves time and lowers stress. It allows for room for them to make their own mistakes and grow, while acknowledging the wisdom you’ve already passed on to them.
Wisdom is a common topic throughout the Bible, especially in Proverbs. In Proverbs 2, we read about how to obtain wisdom and how wisdom changes us. Verse 6 reads, “For the Lord gives wisdom.” Where else could it come from? Who else knows all? I am encouraged when I remember that we have direct access to the Lord and can ask Him for wisdom through prayer. Let us rejoice that our God offers us this gift!
When the Lord does graciously choose to grant us wisdom, we see its impact permeate our lives. When we have wisdom, we fear the Lord. When we have wisdom, we gain knowledge that can only come from God himself. He guides us as we live and grants us a sense of right and wrong. Wisdom acts as a shield and a protection from things that we may not have otherwise been aware of, including evil or immoral things.
As we grow older and experience more of life, we tend to grow in wisdom. Each success and failure have something to teach us. With every experience, we gain more wisdom that can be passed on. The Lord has granted these opportunities to us, and I believe that sharing these experiences and wisdom with our children and grandchildren is both an incredible opportunity and responsibility.
As we enter the final months of this year, consider bringing a new topic of conversation to your table. What wisdom can you bestow upon those you love? It might be as simple as asking a few questions. Ask someone in your family, “What is something you have learned this year?” Consider powerful stories from the last few months or years that have shaped your thinking, your principles, and your beliefs. Be prepared to share these things with your family as you share meals together.
Many biblical men and women have prayed for wisdom throughout the years. We look to Moses, whose prayer we hope is the echo of each of our hearts: “Heavenly Father, teach me to number my days that I may gain a heart of wisdom.” I pray that this holiday season, we each desire to both grow in wisdom and share it with those we love.
How Investing Can Help Change the World
July 22, 2024by Ron Bare
When did you decide you wanted to change the world? In 2009, at my first Kingdom Advisors conference, I realized for the first time that I was being called to be a “pastor of finance.” The Bible is full of so much truth about money – over 2,300 verses in fact! As I watched various people in my life apply these verses, I saw that each of these people had produced contentment, generosity, freedom, clarity, purpose, and ultimately faithfulness as a result of some of these practices. I knew that if I could use my passion to help others grasp a deeper understanding in this area, we could change the world together.
This was my story but ask others how to change the world and you’ll get answers all over the board. End world hunger, commit your life to cancer research, or live overseas as a missionary? These are all admirable. Yet, as I’ve grown and learned more about the financial world, I’ve learned that investing can have a huge impact on the world. So, why should we invest? What is this impact I’m talking about? I’m glad you asked.
Many would say that investing is a great way to grow wealth and that it provides a good rate of return – both of which can be true. These are two potential benefits to the investor. But what if I argued that investing really isn’t just about you, but that there can be a redemptive purpose for investing? Tim Macready, of Brightlight Capital, says it well. “Redemptive investing is moving unproductive capital to productive capital to make goods and services to promote human flourishing.”
Investing is not simply the act of setting money aside to someday see a return. Investing, at its core, is about supplying capital to businesses in exchange for ownership in the company and rights to profit and growth. Now this kind of investing will influence your community – if it is productive for human flourishing, because it impacts businesses and allows growth to happen. How does this apply as we look for companies to invest in?
Believing that we are stewards of God’s money forces us to consider what kinds of companies, properties, or businesses we choose to own or profit from. We are reminded of this higher responsibility in Luke 12:48; “When someone has been given much, much will be required in return; and when someone has been entrusted with much, even more will be required.” Are there then ‘good’ or ‘bad’ profits? Might a good profit be tied to a company that serves others ? And a bad profit be related to an investment that harms others?
As we each decide where, how, and when to invest, mistakes are normal. But we believe some of these mistakes are avoidable when the definition and purpose of investing are crystal clear.
One of the biggest mistakes we see is with those who do not have a purpose nor an end goal. Without purpose or clarity, accumulation is natural, but becomes hard to distinguish from hoarding. When we create parameters and know how much is enough, our investments are wise and purposeful.
Secondly, sometimes the primary purpose of investing becomes saving money on taxes. Saving money on taxes is a nice bonus, but leading with that motivation is not a great long-term plan. When focusing on solely saving taxes you may become stuck in frustrating long-term commitments or may not be able to meet your goals in the way that you could have otherwise.
Lastly, many non-liquid investments are highly leveraged . This certainly potentially increases the rate of return but also increases risk. If investing means supplying capital to fund a company we’re passionate about, yet we are obsessed with finding a high rate of return, we may take on unnecessary risk when investing in companies with high debt levels.
Investing doesn’t have to be complicated or stressful. It can be a beautiful picture of committing your resources to provide capital to companies that promote human flourishing and then enjoying the benefits of those companies’ successes.
Leaving a Family Legacy of Generosity
June 7, 2024by Ron Bare
My parents taught me to be generous. Throughout my childhood they instilled many values, both in speech and in action – but it was the “action” values that really remained. I don’t remember whether our house was always clean or whether my mom’s meals were always perfectly cooked. But I do remember that she was always feeding not only me, but all of my friends too. I remember my father faithfully tithing. My mom was also generous with her time, volunteering at church and a local thrift shop. I learned by watching her that generosity can be expressed in many forms and that family giving is hugely impactful.
I believe many of us would love to leave legacies of a strong work ethic or faithfully tithing, similar to my parents. We all have a deep desire to impact those around us. So how do we do it?
Last month, we talked about six buckets of long-term goals. We focused on the giving bucket and about what it means to give out of our assets and accumulation. This takes intentional planning and a generous heart.
This month, we’re focused on the family goals bucket. Many of us have a desire within our hearts to support our children or grandchildren. This support comes in different forms depending on our values and lifestyle. We often begin with goals of helping our children financially. These goals typically involve helping with their education, first home, or leaving an inheritance.
In the same way that my parents taught me the many ways to be generous, I’d invite you to consider the many ways to handle family goals. Offering college support or leaving an inheritance aren’t the only ways to support your family. The values and wisdom you instill in your children and grandchildren around finances can be even more valuable than the finances themselves. One of my mentors, Ron Blue, stresses the importance of this concept in a quote he has been known to say, ” Pass on wisdom before wealth.” Your children and grandchildren will continue to think of you after you’re gone. What do you hope comes to their mind? What did they see you model? How did you talk to them about money?
Maybe there are patterns you can establish, like giving first before paying your bills, that your children will pick up on. It could be valuable to also consider a fund that could be started to help fund the dreams and goals of the next generation, including helping them start a business, buy a home or even invest into their giving goals. Consider how your life experiences can be valuable to share. Simply inviting your children into some of your financial conversations can be invaluable. You’ve learned lessons through your successes and failures that have the potential to be a great resource to the next generation.
Part of the reason we encourage thinking about more than just giving financially to our family is because we know that without the values piece, sometimes more harm than good can happen. Instead of instilling a mindset of perseverance, sacrifice or hard work, financial blessings can create entitlement or dependence without wisdom. At some point, you may have done “enough” financially for your family. This has to be a real consideration. You can still serve your family even if the answer for right now is ‘no.’ I have seen that entitlement and dependence are less likely to happen when we’re successful with passing on wisdom and values.
I have been blessed to have a wonderful mother and father. Not because our home was always perfect. Simply because I was taught important lessons about generosity, especially about finances. What are your children and grandchildren learning from you? Family goals are so valuable, yet can be approached in many ways. We’d love to hear about how you and your family creatively approach your family goals.
Join us next month for a conversation about our capital assets and investments and how they can shift the culture and influence the world for good.
Do You Believe You Can Change the World?
May 1, 2024by Ron Bare
What would it take for you to believe that you could change the world? What if I proposed that it simply starts with intentionality and a generous heart? Would you believe me?
At Bare, we truly believe this. It takes commitment and planning, but when you’re ready, we’ll be right here to support you. Through intentional stewardship and extravagant giving, we help generous people shift the
culture and change the world for the glory of God.
Changing the world starts with changing your world. Last month, we talked about what it means to be faithful stewards of what God has given us. We must first define generosity, define enough, and then set financial goals.
Many of these financial goals are long-term goals – even lifetime goals. There are 6 main long term goals, or “buckets,” that we find most of our clients to
be pursuing.
The first bucket is financial independence or retirement. This bucket is focused on how much will be enough to meet their needs and accommodate their lifestyle after working full-time. The second bucket is debt elimination. This bucket is working toward paying off all debts and committing to a debt-free future. The third bucket is additional lifestyle goals. This bucket is planning a large one-time purchase, like a cabin or a beach house.
The fourth bucket is family goals. This bucket is considering how they’d like to support their children or grandchildren. The fifth bucket is centered around giving goals. This bucket begins to move beyond the 10% tithe principle into greater giving. The sixth bucket is new opportunities. This bucket is seeking new business or investment opportunities.
In our experience, our clients are typically pursuing goals in a few of these buckets.. We have walked with people from all walks of life and have been able to support them no matter the goal they are pursuing.
When a client defines ‘enough’ and accumulates ‘enough,’ the buckets of retirement and lifestyle goals become filled (see last month’s blog.) On top of that, when all debt is paid off, they find themselves looking at three full buckets! With these three full, the client gains freedom to explore the final three buckets with a different perspective. I like to call these final three buckets the impact buckets.
The first of the impact buckets is the giving bucket. The key theme of this bucket is the impact that intentional planning and giving can have on the world. When we move beyond simply what we need, we are able to consider eternal impact and our legacy.
Typically, the giving bucket begins with giving 10% of our income. When we are in a position to consider giving more than 10%, we begin to wonder what else we can support. We are no longer simply giving out of our income, but also giving out of our assets and accumulation. We begin to see problems around us and are able to give significantly toward their solutions, rather than simply supporting a good cause.
This requires intentional planning about allocating funds, whether to an organization you are passionate about or otherwise. We highly recommend setting up a donor advised fund, which is a tool to help you plan and manage your giving. This fund helps you maximize tax benefits and make a plan for your giving. I love what 1 Timothy 6:17-19 has to say about this. It paints a beautiful picture of extravagant giving and good works flowing together!
Do you believe you can change the world? If you take intentional time to plan and consider extravagant giving, I think you’ll be surprised at what happens. Next month, we’ll cover the family bucket, and how this bucket can be used to shift our culture and influence our world for good!
Implementing Faithful Living with Intentionality
April 1, 2024by Ron Bare
It’s easy to talk the talk. But when it comes to walking the walk, that’s a little more difficult, isn’t it? We’ve all seen this in action. This is why it’s easy to say that we will be more mindful of our budget, but when we start to smell that coffee, the budget goes out the window. It’s why saying that we’re starting a diet is easy, but actually following through with the restrictions it brings is so difficult.
At Bare, we understand the importance of both talking about faithfulness and following through with it! We know it takes planning and intentionality to make this happen, and we want to equip you and your family with resources to be faithful.
But what does faithfulness mean? A simple google search shows ‘faithful’ to mean steadfast, or true to the facts. As we focus on our “Year of Faithfulness”, we’re praying that each staff member and client comes to understand faithfulness in a deeper manner and chooses to live that out personally. So far this year, we’ve defined faithfulness and shared some practical tips around faithful living. This month, we want to give you strategies to intentionally implement these principles.
These principles come from my learning over the last 30 years in financial advising combined with the study of God’s Word. His Word is steadfast and true; it is faithful!
I want to begin with the most important financial decision you get to make: deciding how much to give. I typically start by considering a 10% tithe. This is a biblical principle and I’ve found it to be a helpful starting point. From there, consider how you can be more generous each year. Set intentional generosity goals and work toward them. And remember, generosity is an overflow of the heart!
Second, consider defining ‘enough.’ Personally, I’ve set a budget that includes both necessary expenses and fun expenses, like traveling, eating out, and our family’s hobbies. This budget gives me an idea of just how much is enough. It protects against the danger of hoarding. Without this guardrail, we will all keep chasing more money, more traveling, more new cars, more, more, more.
Finally, I’d encourage you to set financial goals and invest with a specific personal goal in mind. This will help you determine how much to accumulate. Consider whether your investment decisions are in line with the personal goals you’ve set for yourself. What is needed to grow your business and make a bigger impact? Are you moving closer to or further from that? What are your retirement goals? What are your family goals? Consider your future goals and what decisions might need to be made now to make those things possible later.
Defining ‘enough’ for you and your family will be critical in this whole process. Once you are confident in having accumulated ‘enough’ to meet your financial goals, there are new things to consider! That stage of life is a beautiful time to increase your giving and invest capital in order to shift the culture and change the world for the glory of God. Stay tuned for next month’s blog as we will talk in more detail about this.
None of us can do this on our own. We each need people to walk alongside us as we make critical financial decisions and aim to glorify the Lord with what he has given to us.
Here at Bare, we’d love to walk with you on this journey. As we walk you through a holistic, biblical financial planning process, we will equip you with tools and resources to help guide your way. We’re here for the long haul.
If you’re interested in specific tools for living a God-honoring lifestyle, planning for kingdom giving, or saving and investing, reach out at barewealthadvisors.com. We’d love to connect with you and send these resources to you.
Living Faithfully – A Practical Guide
February 23, 2024by Ron Bare
Without a doubt, my favorite moment when flying on a plane is the descent. We’re finally about to land at our destination, whether it is a beautiful beach, a tropical island, or majestic mountains. And every time, I am in awe at the landscape below me. The way that the mountains, forests, oceans, and cities weave together captures all my attention. It’s stunning.
But I soon start to wonder. How do you get down there? Where does that path lead? Are there waterfalls in that forest that I can’t see from up here? What kind of wildlife lives in those mountains? These questions can only be answered on the path, in the forest, in the mountains, on the ground.
Today I want to take you with me to the ground. Last month, we were on the plane, looking at the idea of faithfulness from 10,000 feet in the air – what it means and what things hinder it. But simply talking about faithfulness can leave us lingering with questions about what it truly looks like on the ground, in real life.
As we consider faithfulness practically, we have six big thoughts and then a few practical tips that we believe are beneficial.
First, remember that God owns everything, and we are simply stewards. When we understand that everything we have belongs to the Lord, our heart is naturally drawn toward gratitude and faithfulness.
Second, work is important! God has given each of us resources to manage and they cannot be managed without discipline. Resources will not grow overnight; we must work to increase and invest in them.
Third, find contentment in the time, talent, and treasure God has given to you. Contentment is hard, that’s just the reality of it. Yet when we become content with our resources, how much easier it is to be faithful! We’re not constantly longing for more, promising that when we get just a little bit more, then we will choose to be faithful.
Similarly, be generous with this time, talent, and treasure! Generosity is the overflow of a content heart. When we understand that nothing we have is truly ours and are not longing for more, we will be generous.
Next, grow what God has given to you! In the parable of the talents, we see the master (Jesus) pleased with those servants who have increased what he originally gave them. While the master is gone, the servants are working hard to invest and even double what the master has given them to manage.
Finally, transfer stewardship to the next steward coming after you! Think of the generations to come after you – what can you teach them about stewardship? What have you learned in your lifetime both from successes and mistakes that can be passed on? Are you investing your wisdom into your kids, grandkids, neighbors, friends at church, or employees?
As we consider what faithfulness looks like, we’ve found two key practices that help get our minds and hearts in the right place.
Studying God’s Word and specifically the passages related to money is a great place to start. There are so many passages, and we’ll list a few of them at the bottom of this post!
Additionally, we’d encourage you to begin each day with this prayer – “God, all I have is yours. What would you have me do with the time, talents and treasure that you have placed in my hands?” As you pray this prayer, consider your impressions. Write them down, share them with your spouse or trusted friends, and engage with what God might have you do.
What have you discovered in your time on the ground? What is God asking you to do with what He has entrusted to you?
Fun fact – there are over 2,300 passages relating to money in the Bible! Here are just a few passages to consider when studying what God’s word says about faithfulness, stewardship, and money.
- I Timothy 6:17-19
- Psalm 24:1
- Jesus’ parables (about one third of them have to do with money)
- Matthew 13:44-46
- Matthew 25:14-30
- Luke 12:13-21
- Luke 18:10-14
- Luke 16:1-13
- 2 Corinthians chapters 8 and 9
- Malachi chapter 3