26 Nov 2006, Posted by Lance in General, No Comments.
Context
Context
I am going to start from the beginning and cover all the
basics but no matter what your level of knowledge in finance, I will add little
nuggets of wisdom for all.
Context is defined as this:
of an event,
word, paradigm,
change
or other reality
includes the circumstances and conditions
which surround
it.
When it comes to
finances, everyone has their own context drawn from experience and their own personal
up bringing. Why is this so important in
raising children? Finance is not taught
in school. Finance and money are learned
in the home from parents. More on this
later.
the love of money is a root of all kinds of evil. Some people, eager for money,
have wandered from the faith and pierced themselves with many grief’s.”
What is the bible saying
here? That making money your love, that
putting money before God is a sin. True. I believe it is also saying
that chasing money can lead you to wonder from your faith and the things that
are important in life.
are two different concepts. Loving money
is what this verse is referring to; Mastering money is understanding and not
letting money become a problem in your life or the life of your children.
won’t make you a better person, but neither does poverty, debt or ignorance of
money. Finances are one of the leading
causes of divorce in the US. Money is needed for food, housing, clothes,
education and expenses.
So let me ask this question, if
you had a choice between your children struggling financial or understanding money
which would you choose? Now don’t get me
wrong, I‘m not talking about spoiling our
children or giving children a silver spoon. I am talking about giving your children the knowledge of understanding
how to live below their means, save and invest, control debt, make smart
purchases and how to create an honest income for themselves and eventually their
families.
If your children our under age 10,
I will teach you how to make them millionaires by the time they reach their
30’s, they will also learn charity, but more importantly they will learn how to
use the money for good causes and ultimately God’s design for their lives.
I think every parent wants this
for their children but the problem is how to do it? There are many options available, how do
we know which one is right?
Finances are very complex and you
never know if someone is trying to sell you something or is giving you poor
advice. As a former Financial Planner
and currently an active investor, I have seen all kinds of advice and
investors. So for the sake of simplicity,
I am going to lay out all my knowledge in a series of posts and let you take
away what is unique for your situation. I’ve
read over 50 books on personal finance and investing and I still haven’t found
the definitive authority on the subject. So the best way I have found is to get a wide variety of advice from
many sources and take away what works for your personal situation.
line, take what you like or what looks good and leave that which doesn’t sound
like your area.
Living Below Your Means
Debt and Credit
Paper Investing: Stocks, Bonds,
Mutual Funds and Derivatives
Real Estate Investing
Estate Planning and Wills
Business and Marketing
Tax Planning and Tax Savings
Techniques I Learned From My
Wealthy Clients
How to Retire Younger Without The
Added Risk
What Investments to Buy and When
our kids and why, has such a dramatically positive effect on them.
Back to context, how you speak and
refer to money shapes your children’s view of it. How many of us have heard phrases like “Money
won’t buy you happiness” Money doesn’t grow on trees?” and my favorite “Money
is not important!”
ask people “If money is not important, why do you spend years away from your
family, working at a job for money?”
but it is certainly not the most important thing. A majority of people I have met grew up with
negative experiences of money. They have
ideas like money is in short demand; you have to work hard for money, etc.
believe that money is easy to make and control, money is a tool to fund worthy
causes and controlling money will allow you to spend more time on things that
really matter like your family, charity or your true passion in life.
that money is not a factor in your life. You do not have a job, each month you receive $10,000 into your checking
account. How would you live your life? What charities and causes would you
support? How would you spend your
time? Would you volunteer more at your
church? Volunteer to be a missionary? Write a book of your life story? Start a new business? Follow a long time dream that you have long
forgotten about? Spend each day with
your children and grandchildren?
listen to what I have to say, I will show you how you can make this dream a
reality for your children and possibly for yourself as well. The reason I starting learning about money
was because I never wanted money to stand in the way of me providing for my
family. I never wanted money to be a
factor in decisions for my children. I
wanted money for my children to be able to participate in activities and
experiences that make them a better person and Christian. I wanted my children to see the value of
charity and giving. And if someday my
children were given an opportunity to attend an Ivy League college, I never
wanted my lack of understanding and preparedness to stand in their way.
This process will not only prepare
your children, but it will also prepare you and help you in your current
financial situation. So if you are
interested in Mastering Money, teaching your kids to Master Money, learning the
finance techniques of Wall Street and wealthy people and creating a financial
legacy for your children along the way, strap in a hang on.
Next is "LBYM"
-Esse Quam Videri-
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