Building wealth
May 4, 2021
I’m Miriam Neff-with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, and we’re here to talk about money
M Yes, its biblical to build wealth. Our culture encourages taking risks and being impulsive. Proverbs 13:11 Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
Working diligently to gather money is applauded. Once you have it, determine where to invest.
V An important concept here is risk. Whether as a couple or individual, determine your risk tolerance. How quickly might you need that money? Educational expenses, vehicle? Money needed quickly should not be in risky investments–it might be a down day–or real estate that might languish in a down market.
M Proverbs repeatedly advises us to plan. Know where and when you likely need funds before you invest them. That’s good stewardship.