No, it didn’t take that long to build the Apexfinancialcoaching.com website. What occurred in that timeframe was my own reflection of who I am as a person. It was evaluation of where I want to be in the next chapter of my life.

Writing about personal finance at my former blog has been a part of my life for the last 15 years. Much of the content from Luke1428 remains here in the blog section. You can find articles on budgeting, saving, spending, investing and many other topics by clicking the Search function in the header at the top of the page.

I enjoy writing and creating content to help others. What I’ve recognized though is a passion to teach that content. I thrive in coming alongside an individual or a group of individuals and sharing the knowledge I’ve gained on my own personal finance journey. It’s intoxicating to see the lightbulb flash in another person’s mind, realizing I’ve had a part in moving them towards real, life-changing decisions.

So, I’ve been coaching individuals the last few years. And I’ve been teaching in church large group settings. Thus, Apexfinancialcoaching.com has been born to reflect this new path.

So much changed for myself and for my family once my wife and I became serious and decided to get our financial life in order. It was one of the best decisions we ever made.

There will be absolutely no regrets if you choose to do the same. I’m offering myself as your guide into and through that process.

So, here’s to this new chapter at Apexfinancialcoaching.com.

And here’s to your potential new chapter as well. Take charge of your life and change your direction today.

The post Apexfinancialcoaching.com – A New Chapter appeared first on ApexFinancialCoaching.

Let’s just get this out of the way right at the beginning – clearly a person can retire at any age they choose. However, to receive full financial benefits from the Social Security Agency will require a person to work until a certain age (based on when they were born). For example, I was born after 1960, so full retirement age for me isn’t until age 67 according to the Social Security website.

I could begin to receive benefits as early as age 62. However, those benefits would come to me at a reduced rate. The calculation used by Social Security is based on the number of months once I retire until full retirement age is reached. In my case that would be 60 months if I retired at age 62.

Retiring early at age 62 sounds great. However, it would really cost me. It would turn a potential $1,000 benefit into only $700, a 30% reduction. $300 dollars a month would go a long way. The Social Security website has a great chart showing all the ages and reduction percentages.

So the choice to retire early isn’t a no brainer. In fact, there are many other things to account for aside from the financial considerations.

Should I Retire Early Questions to Consider

With all that in mind, when asking the question, “Should I retire early?” here are some questions to consider – three in each category related to career, finances and lifestyle.

Career Related Questions

1. Do I still enjoy my job?

Our lives are defined so much by the career we choose and using that career to work for a money to supply our daily needs. It’s one of the biggest places outside of family where we find purpose. In many ways it helps identify who we are and links us to a place in society.

It’s also one of our main resources for connecting with people.

If the job brings you pleasure, it may be wise to not give it up so quickly. Retirement could become a big negative as you struggle to find purpose and relationships outside of a career.

2. Am I still emotionally invested in my job and bringing considerable value to the organization?

Could you love a job but not be emotionally invested in it anymore? Absolutely.

Could you love your job but not really be contributing high levels of value to your organization? Again, absolutely.

Our attention gets redirected all the time. For many aging through midlife, that may mean things like grandchildren or travel. Perhaps charity work or supporting causes becomes appealing.

Maybe your company is going through a transition and the changes will require more effort than you are willing to give. Those changes may require you to adapt and change work style, routines or even get further training. That may not sound to appealing.

These could be signs that, while you love your job, the emotional energy for it simply doesn’t exist anymore and it’s time to move on.

3. Can I still physically do my job?

Some jobs are very strenuous on the body. However, let’s face it – no matter what the job, the older we get the more our bodies break down. This can obviously affect our work performance and thus our perceived value to the company.

If we are missing days routinely due to illness or physical discomfort, it may be time to step aside.

Personal Finance Related Questions

4. What financial obligations do I still have?

It would be real challenging to retire when still facing heavy financial obligations. Even more so when others are depending on your financial support. If children are still relying on you to pay for college or you are financing an elderly parent’s nursing home care, those could be obligations making it difficult to step away from your job.

Of course the big area of focus related to this question is whether or not you are debt free. Do you still have a mortgage, car payments or school loans to repay?

In addition, are there outstanding medical bills or credit cards with large balances? All these could financial obligations that are hindrances to retirement.

5. How much have I saved in cash and investments?

The question to ask here is “Based on what I have accumulated thus far, could I withstand a dramatic drop in my investments and still be OK?” You may ask “What’s dramatic?” I’d say 50-60%. Would you be fine (i.e. could you get by financially) if your investments lost that much of their value in a stock market downturn? (Note: I used the 50-60% drop in investments because that’s approximately how much value the Dow Jones Industrial Average lost from October of 2007 to March of 2009 in the market’s last financial crisis.)

The longer we continue to work and contribute to our investments, the better chance we have of accumulating enough resources to live comfortably in our retirement years. Some more years of saving and investing may push you into a more comfortable financial position.

6. Are the benefits too much to give up?

Your work may be offering some great benefits. Health insurance…employer match on the 401(k) retirement fund…stock options…company car…potential for advancement (yes…people in their 60s get promoted).

Consider the boost keeping these benefits for another five or ten years could do to your financial bottom line.

Lifestyle Related Questions

7. What will be my standard of living in retirement?

This is probably the biggest lifestyle question you need to consider. What do you want your standard of living to be during retirement? Will you downsize? Eat out more? Cruise the world? Become involved in expensive hobbies?

Considering how you want to spend your retirement years will go a long way in determining how much money you will need and thus, when you might be able to retire. Retirement calculators like the ones found here (Dave Ramsey) and here (Vanguard) can be a great resource to help you sort out the answer to this question.

8. Will I be moving towards something?

This goes back to whether or not you love and are still emotionally connected with your job. Many people simply get burnt out on work and quit without giving consideration to what they will be moving towards. Life on the couch in retirement watching television all the time doesn’t sound appealing to me. Yet that’s where many people end up because they haven’t considered what to do in the next stage of their life.

It may be time to retire if there is something hot on the burner that you just can’t wait to start. If not, working several more years may provide time to contemplate what you will do in a future that doesn’t involve punching the clock.

9. Does my significant other agree it’s time?

For couples, retirement should be a joint decision. I would consult with my wife about this issue and seek her counsel.

If she didn’t agree it was time and was uneasy about it, I would have a hard time going against that.  The tension and daily uneasiness that would most likely result from spouses disagreeing about this issue could be very disruptive to the relationship.

Should I Retire Early?

As I stated at the beginning of this post, the choice to retire early is a personal issue. There is no problem with people retiring at any age.

The key is to give it serious thought before making a decision. Start now, no matter what your life circumstance. Weigh the pros and the cons of retiring at different ages. Most importantly, be willing to make adjustments along the way. We don’t know what life holds in the future and plans made now may look very different 10 or 20 years down the road.

There are so many factors to consider. Use this as a starting point to answer the should I retire early or not question and start piecing together your retirement puzzle.

Questions for Discussion: Based on your current projections, when do you plan to retire? What are you looking forward to in retirement? What scares you the most about retirement? Do you think your lifestyle will change in retirement?

Image courtesy of American Advisors Group at Flickr Creative Commons

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Not all categories are created equal. For some expenses, you can find money savings quickly. Others are going to take a little more time and effort. Some budget cuts will be easy to endure while others might lead to some family frustration at the lack of spending for that category.

In order to better identify the best places to save money in the monthly budget, I’ve created what I call the “Headache Factor Formula.” This equation takes into consideration three factors that are each scored on a scale of 1-5, with 1 being positive and 5 being negative. The lower the cumulative score of the three factors the better when determining where to start saving money first.

The Headache Factor Formula

The three parts of the equation are:

Speed: How quickly can money savings happen in this category?

Ease: How much work will it take to save money in this category?

Pain: How much will cutting money from this category be a frustration or cause hardship for the family?

Now to be clear, all the categories I’m about to share should be looked at when it comes to saving money to pay off debt. Getting out of debt properly and quickly will require a focused examination. Everything should be on the table no matter how much pain it might cause.

Additionally, I created this based on my own perspective and personal preference. Your ratings may differ from mine.

However, in order to gain some positive momentum and help the family adjust to the saving money lifestyle, here are some places to start that are easier than others. I’ll include a rating for each category with a brief synopsis of why I’ve given it that rating.

The Best Places in the Budget to Save Money

Begin the savings with these five categories which should be fairly easy to achieve:

Kid Commissions (Allowances) for Work at Home

Speed: 1

Ease: 1

Pain: 2

Total Score: 4

Your kids might balk when you cut back on the money they earn for chores. So you will have to sell them on the bigger picture.

What is that picture exactly? The broader agenda is that when mom and dad get out of debt, they will have a better life. And so will the kids. In a house with four kids like ours, we’d be saving at least $20-30 by cutting their chore money.

Potential savings impact – minimal (varies depending on family size)

Entertainment

Speed: 1

Ease: 1

Pain: 2

Total Score: 4

Another easy and quick win here that is relatively painless. No movies, concerts, baseball games, etc. All this will have to be cut back for a time so the money can be used for debt payoff.

Potential savings impact – minimal to moderate

Food: Eating Out

Speed: 1

Ease: 2

Pain: 3

Total Score: 6

When you are serious about getting out of debt you shouldn’t see the inside of a restaurant. Cooking meals at home is a great way to save money. It will take some planning ahead and preparation. But the decision to not eat out can happen immediately.

You will notice though that the pain scale does increase. Eating out is woven into the fabric of American culture. With our fast-paced lives, it’s become second nature. We don’t even think about zipping through the drive through to save time (because we have no time). So adjusting this practice may be harder than you might think.

But the payoff here may be significant. Again, just think how much that most recent stop at fill-in-the-blank restaurant cost for your family.

Potential savings impact – moderate to significant.

Funding Retirement

Speed: 1

Ease: 2

Pain: 4

Total Score: 7

Cutting back on retirement contributions when getting out of debt is something often not thought of. If you have $300 going into retirement each month, that money could quickly take big chunks out of your debt if reallocated. It is easy to stop contributing, only requiring a quick discussion with your employer and perhaps the filing of some paperwork.

The challenge here is psychological and emotional. We believe this action is somehow damaging our financial future. And it goes against the grain to what most in the financial and investing world preach. (And of course that makes sense. Why would an investing company or investment advisor want you to stop sending them money to invest!)

In reality, we really aren’t hurting ourselves, but we think we are. Instead, we should realize this is a sacrifice that should be made during the debt payoff process. One to three years of not funding retirement will be worth it to get rid of that debt quickly.

Potential savings impact – moderate to significant.

Subscriptions or memberships

Speed: 2

Ease: 2

Pain: 3

Total Score: 7

When getting out of debt it’s important to look at cutting subscriptions and memberships to items like magazines, the gym and Netflix. Canceling these services will require you to make a few phone calls and you may get some pushback from the customer service reps. The pain factor is evident here as well because these are things we really do love. It will take some fortitude to commit to put these aside for awhile.

Potential savings impact – moderate

Places to Save When Getting Out of Debt

For a family looking for a quick win in regards to saving money, start with the categories above. Once those are taken care of, begin to plunk away here. These will take longer to address and you may face greater resistance from the family.

These budget spending categories find themselves tagged with the “worst” label not because we can’t save money in them, but rather because of the effort involved in doing so.

Utilities

Speed: 2

Ease: 2

Pain: 4

Total Score: 8

We can quickly and easily begin to adjust the use of utilities around the home. Cutting back on gas, electric and water usage are all ways to squeeze some more money out of the budget to pay off debt.

The issue here will be convincing the family when they are inconvenienced in some way. We all have our comfort level when it comes to the home environment. Who really wants to take lukewarm showers or crawl out of bed on a winter morning to a house that is only heated to 60 degrees? Oh, and speaking from experience, washing those dishes by hand will get real old after awhile. So will putting the laundry on a clothesline outside so as not to use the dryer.

Plus the cumulative savings will not be as much as you think, which will cause the family to question whether it’s worth the effort or not.

Potential savings impact – minimal

Cell Phone

Speed: 3

Ease: 2

Pain: 4

Total Score: 9

Time to downgrade that cell phone plan. Cut back on the minutes. Shelve the smartphone for a basic flip phone.

This can be done relatively easily. But you will have to spend some time shopping for a new phone and a plan that saves you money.

Oh…and that scream you heard was from your teenagers. I think they just went into shock. And you better attend to your wife in the kitchen also. She just fainted when you mentioned doing this.

Potential savings impact – moderate

Cable/Satellite TV/Wi-fi

Speed: 2

Ease: 2

Pain: 5

Total Score: 9

If you thought the cell phone was going to be a challenge wait until you suggest this one.

All it will take is a call to your cable or satellite provider and some determination to resist all the goodies they will offer you to stay. They will cut off your cable and wi-fi in less than 10 minutes.

The pain scale hits a 5 here though. It’s going to be awfully tough to convince the family of this one, especially since you’ve also cancelled Netflix and are avoiding all other forms of entertainment to tackle this debt.

Although tough, this can be a gold mine of savings. Our family actually did cut off DirectTV for two years while we fought to pay off our mortgage early. I won’t sugarcoat the decision. It was really tough at first. But we saved around $1,000 each year. In addition, we grew to not miss it and ended up engaging in other pursuits and spending more quality time together as a family.

And wi-fi can be found almost anywhere nowadays. Yes, it’s inconvenient to do work at Starbucks, the library, or at a friend’s house. But again, how much do you really want to be out of debt? How much are you willing to sacrifice for a short time to make your life better?

Potential Savings Impact – significant

Food: Grocery Shopping

Speed: 2

Ease: 4

Pain: 5

Total Score: 11

Groceries will often be the first place people look in the budget to save money. While the savings here can happen quickly,  it won’t be as easy as you think.

For starters, you may have to change grocery stores. There are some national chains that might be significantly cheaper than the one you are shopping at. That will change your shopping experience and the availability of “your favorite items” right away.

You will also have to begin spending time searching for and then using coupons. From someone who’s tried, doing that effectively requires a good deal of effort.

The products purchased will also have to change. Fewer meats, more generics and less desirables like ice cream will find their way into your shopping cart.

Menus will also have to change. Simpler meals and eating leftovers for a couple of nights in a row might become the norm.

This type of radical change will not be a walk in the park for the family. The kids will almost certainly whine when that generic peanut butter comes home. You will be forced to plan out the weekly meals and only list what you need to buy so that your grocery shopping can be done with intentionality.

My suggestion would be to ease into this one. Don’t go radical from the beginning. Start with a few basic items to save on so the family can get used to the changes. Then as the whining subsides and the family settles into the new menu plans, begin to see where you can cut deeper.

Potential Savings Impact – significant

Insurances

Speed: 4

Ease: 4

Pain: 5

Total Score: 13

Ugh! Who likes to tackle changes to insurance policies? It’s definitely an area we need to address from time to time. But for the most part, we don’t like to touch this one. Just get me a policy with low monthly premiums and get those payments on autopilot so I can forget about it.

Searching for policies that save money on health insurance, life insurance, and home/auto insurance will take a great deal of time. You’ll have to compare multiple policies and balance those with your current family needs. You may even have to submit to medical exams in order to change life insurance policies.

Again, savings can be found here, perhaps significant savings. But I’d save this one for last after all other areas of the budget have been addressed. If you still want to cut more from the budget, then pursue it.

Potential Savings Impact – moderate to significant

Getting Out of Debt By Saving

There is more money in your budget to save than you think. Some can be found quickly. Some will take more time and effort. Don’t be afraid to tackle any of it even though some of the categories seem daunting.

Your focus now is on getting out of debt. Once that’s gone and money is freed up, you can begin to add money back into the budget categories. After we paid off our mortgage one of the first expenditures we resumed again was cable TV. So the cuts won’t be forever.

Saving money in the budget is all about going through some short-term pain so there will be long-term gain. Start looking at yours today and see where you might be able to cut expenses. If you need a budget form you can find free ones on my “Resources” page by clicking here.

Leave a Comment or Answer a Question Below: How would you rank the easiest or hardest places to save money? What’s the first area of the budget you cut when getting out of debt? In what other areas can you find savings?

Image courtesy of Images Money at Flickr Creative Commons

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The Bible is full of encouragement to all people. There are so many stories and verses that give us inspiration, strength and comfort in our time of need.

But are there verses that speak a little more directly to men and our issues? I think so. Men have challenges that women don’t face on the same scale or level of intensity. There is nothing wrong with that as we are all made differently. And some Bible verses may mean more to one person over another or one gender over another based on what we struggle with.

So today I’d like to highlight a few encouraging Bible verses for men that stand out to me and share a little about why they do.

Encouraging Bible Verses for Men

Genesis 2:15

“Then the Lord God took the man and put him in the garden of Eden to tend and keep it.”

This may seem like an odd place to start on a list of encouraging Bible verses for men. However, this one speaks to God’s original intent for men. God didn’t place Adam in the Garden of Eden to relax and have a party. There was work to be done. Adam was to find fulfillment and pleasure in following through with God’s plan for him.

God places all of us in a specific position (jobs) for a reason. We can find purpose where we are planted even if we may be struggling with certain aspects of our job. Even through tough circumstances we can honor God with our effort and fulfill his purpose for us to work until he moves us on to the next destination.

Joshua 1:9

“Have I not commanded you? Be strong and of good courage; do not be afraid, nor be dismayed, for the Lord your God is with you wherever you go.”

God spoke this to Joshua before he led the nation of Israel into the Promised Land. Can you imagine that? Leading an entire nation into a foreign country to do battle with your enemies? And to top it off, his mentor Moses had died. Now Joshua is on his own. No wonder he felt fear.

God’s words to Joshua serve as encouragement in times of fear. God promises to be with us wherever we go, no matter what insurmountable odds we may face.

Psalms 1:1-3

“Blessed is the man who walks not in the counsel of the ungodly, nor stands in the path of sinners, nor sits in the seat of the scornful; But his delight is in the law of the Lord, and in His law he meditates day and night. He shall be like a tree planted by the rivers of water, that brings forth its fruit in its season, whose leaf also shall not wither; and whatever he does shall prosper.”

These encouraging Bible verses for men hold such promise. For the man who rejects godlessness and follows the ways of the Lord, tremendous blessings follow.

The imagery here that describes the man who puts his delight in the Lord is powerful. Just like a giant tree, this type of man will be fruitful, steadfast, alive and thriving. He will not wither when the heat of difficult times comes.

Related Content: 15 Bible Verses to Remind Us to Be Thankful

Psalm 118:6

“The Lord is on my side; I will not fear. What can man do to me?”

It seems there are a lot of encouraging Bible verses for men that deal with the subject of fear. Here is another one. We may feel vulnerable at certain times of our lives. Those moments can come from our own self-imposed failings and conflicts or from external forces around us. In those times, it’s comforting to know that we have an advocate, someone who will stand beside us even though all others may desert us.

In the end the Psalmist says – for those who have a relationship with the Lord – what can other men really do to us? Even if they would threaten us harm, we know our ultimate destination is in heaven, a place infinitely better than our current life on earth. The Christians of the early church recognized this and were willing to give their lives at the hands of their Roman oppressors.

Psalm 119:9

“How can a young man cleanse his way? By taking heed according to Your word.”

Are you mixed up in some kind of sin? Does it feel like you can’t escape the pattern of poor behaviors that are dominating your life? This Bible verse makes it clear there is hope to turn tings around. There is a path out of whatever has you trapped.

The formula for cleansing your way and turning from sin all has to do with God’s Word. This verse tells us to “take heed” to it. That means not only will you have to read it, but you will have to follow the instructions found in it. If you make that a consistent habit in your life, then sin and ungodly behaviors will slowly fade away. God’s Word has the power to turn around any life.

Proverbs 27:17

“As iron sharpens iron, so a man sharpens the countenance of his friend.”

As a general rule, woman are a lot more talkative than men. Men tend to keep things inside whereas women generally feel more freedom to share with one another. This verse tells us though the power of being there for a friend. Not only is their a bonding that occurs from togetherness, but being there for a brother in Christ can uplift them, keep them accountable and makes them feel better.

Men need each other in the worst way. We tend to keep things bottled up because we don’t think anyone wants to hear or wants to help. That only leads to problems. We need to come along beside our friends who need someone to share with and be an encouragement to them. If you know someone you could reach out to, do so today.

Related Content: 8 Bible Verses About Worry for All Life Situations

Jeremiah 29:11  

“For I know the thoughts that I think toward you, says the Lord, thoughts of peace and not of evil, to give you a future and a hope.”

Of all the encouraging Bible verses for men, this one may be the most valuable. Men love to make plans. Everyday we dream about our plans for the future – plans for our family, for our career, for our finances and for the giant deck off the back of the house. It’s in our DNA to want to know what’s coming in the future and have a plan to guide us.

Unfortunately, our planning can get out of hand sometimes. We can become obsessed with it. When that happens we neglect the moment, miss out on opportunities in the present and disrupt the lives of those around us.

God has a plan for each of us. While it may be hard sometimes, we need to rest in His future for us. The other great thing about this verse is that God’s thoughts for us don’t include evil. Rather, they are thoughts of peace.

I Corinthians 10:13

“No temptation has overtaken you except such as is common to man; but God is faithful, who will not allow you to be tempted beyond what you are able, but with the temptation will also make the way of escape, that you may be able to bear it.”

The Apostle Paul must have had many of us in mind when he wrote this verse. Temptations bombard us every day. We face temptations to have our own way, to gain power, to take short cuts by lying, stealing or cheating, to lust after things that we can’t have or are harmful, and to do generally anything that makes our bodies feel good. Temptations are everywhere!

It seems like the temptations never stop coming. But God is faithful this verse says. He won’t let you experience more temptation than you can handle. The best part is, with each temptation, He will provide a way out, if you will take it.

And perhaps most importantly, He will give you the strength to endure through the temptation.  That’s reassuring to know because we can’t beat temptation in our own power.

I Corinthians 16:13

“Watch, stand fast in the faith, be brave, be strong.”

I love short Bible verses that pack a powerful message. There are four big bullet points in this one that every man can relate to:

The verse says to “watch” – in other words, be a guardian.

It says to “stand fast” – to hold your ground and defend your faith.

We are told to “be brave” – in the face of persecution, ridicule or mockery for what we believe.

And finally, we are challenged to “be strong” – to be a rock of determination and leadership to those around us.

Related Content: 8 Bible Verses About God’s Love You Should Never Forget

II Corinthians 4:16

“Therefore we do not lose heart. Even though our outward man is perishing, yet the inward man is being renewed day by day.”

This verse makes the encouraging Bible verses for men list because there may be nothing more emotionally demoralizing for a man than to see his body deteriorate. The physical prowess you once had in your teens and 20s will fade away as you continue to age. You may be able to stay reasonable fit but your body will become weak and perish one day. God didn’t design our physical bodies to last forever.

While the outward body experiences a decline in vitality, it’s not so with the inward man. As least that’s God’s design. We should renew our inward (spiritual) man each day. As we spend time in the Word and time in prayer, God’s spirit grows within us and our connection with Him is strengthened. The thought from this verse is similar to what Paul said in I Timothy 4:8, “For physical training is of some value, but godliness has value for all things, holding promise for both the present life and the life to come.”

James 1:2-3

“My brethren, count it all joy when you fall into various trials, knowing that the testing of your faith produces patience.”

I don’t know any man that enjoys trials. We’d just assume life proceed at a smooth pace without any obstacles rearing their ugly head. Unfortunately, (or fortunately depending on how you look at it) that’s not the case. Trials will come. And sometimes they come in waves that really test your faith.

God has a purpose for the trials you face. This verse clearly states the reason. It’s to produce patience in your life – patience in others, patience in yourself and patience in God. So the next time you are faced with a hefty trial, thank God for it. He’s doing a work in your life that can’t be accomplished unless you face some adversity.

James 1:19-20

“So then, my beloved brethren, let every man be swift to hear, slow to speak, slow to wrath; for the wrath of man does not produce the righteousness of God.”

These verses brings several hot-button issues for men to the forefront. We don’t listen the way we should. We don’t think about the things we say and how they impact others around us. And we let our emotions boil over into anger. Unfortunately, that anger in many cases causes us to do things we regret.

Could many of our problems be solved if we’d truly listen to what’s being said instead of thinking of what to say next while the other person is talking? Would we reduce conflict by holding our tongue and not letting every idle word slip out? Might we live a more peaceful life if we didn’t get angry all the time? The answer is “Yes” to all three questions.

James 5:16

“Confess your trespasses to one another, and pray for one another, that you may be healed. The effective, fervent prayer of a righteous man avails much.”

The final of our encouraging Bible verses for men touches on the topic of prayer. It challenges us to confess our sins to one another and pray for each other so there can be healing within the body of Christ. It does no good to withhold forgiveness and begrudge those who have done you wrong. This will only allow bitterness to take hold of your life. You won’t be able to move forward and live an effective, joyful life if you harbor bitterness towards others.

In the end we are told that the prayer of a righteous man “avails much.” In short, that means prayers help. Prayer is beneficial. So do it daily and seek God for everything. You may have to wait for some answers but He won’t disappoint.

Leave a Comment or Answer a Question Below: What other encouraging Bible verses for men do you have to share? How have you seen the Bible impact your life? 

The post 13 Encouraging Bible Verses for Men appeared first on ApexFinancialCoaching.

Like you, my tax paperwork is due to be filed by April 15th. There is no doubt that doing the tax return is no fun to fill out every year. It has become a much easier task though since my wife became a CPA.

Talking about taxes sets our blood to a boil. We despise the fact that we work so hard only to see so much money taken from each paycheck. “Isn’t there a way to avoid it?” we ask.

That question should raise alarm bells for everyone. While certain maneuvers with money are legal, many others are not. If we are not careful, that question can lead us down a path of handling our money in a way that we might regret one day.

Like so many other life issues, I filter my attitude about paying taxes through my worldview – which includes my faith. It may surprise you to know the Bible does speak about taxes and encourages a specific response to those who claim to be followers of Jesus.

Jesus’ Discussion of Taxes in the Bible

Jesus spoke about taxes in the Bible in two different situations. The first answers the question, “Did Jesus pay taxes?” We find the answer in Matthew 17:24-27:

“When they had come to Capernaum, those who received the temple tax came to Peter and said, ‘Does your Teacher not pay the temple tax?’ He [Peter] said, ‘Yes.’

And when he had come into the house, Jesus anticipated him, saying, ‘What do you think Simon [Peter]? From whom do the kings of the earth take customs or taxes, from their sons or from strangers?’ Peter said to Him, ‘From strangers.’ Jesus said to him, ‘Then the sons are free.’

“Nevertheless, lest we offend them, go to the sea, cast in a hook, and take the fish that comes up first. And when you have opened its mouth, you will find a piece of money; take that and give it to them for Me and you.”

It’s interesting to note in this passage why Jesus chose to pay the temple tax. As a spiritual teacher, he should have been exempt. However, the religious leaders of his day did not recognize his authority as a spiritual teacher of the people. So even though he didn’t have to pay his tax, Jesus chose to so as not to offend them.

Jesus was concerned how the people viewed him. As a follower of his that’s something I should be concerned about as well. In being so I pay taxes for the sake of my personal testimony of faith.

Paying Taxes to Caesar

Another discussion of taxes in the Bible centers on the Pharisees, the religious leaders of the day. One day they approached Jesus with a scenario designed to trap him. They asked a straightforward question,

“Tell us, therefore, what do you think? Is it lawful to pay taxes to Caesar, or not?” (Matthew 22:17)

This was truly a dicey situation. If Jesus responded by saying “No” the Pharisees could have him arrested for speaking out against Rome. If he said “Yes” they believed he will be rejected as the Messiah by the Jewish people who were none to fond of Rome. Jesus was really put in a situation where the religious leaders thought there was no escape.

But Jesus perceived their deception. He responded in a way they were not expecting. He said:

“…Show me the tax money.’ So they brought Him a denarius.  And he said to them, ‘Whose image and inscription is this?’ They said to Him, ‘Caesar’s.’ And He said to them, ‘Render therefore to Caesar the things that are Caesar’s, and to God the things that are Gods.’”

Based on these two accounts it’s evident Jesus taught his followers in words and in deeds to pay the taxes that were due the government. It was not something to intentionally avoid.

Pay Taxes in Submission to God Ordained Authority

Paying taxes in the Bible resurfaces later in the New Testament writings of Paul. In the book of Romans, we find these words written to the Roman believers:

“Let every soul be subject to the governing authorities. For there is no authority except from God, and the authorities that exist are appointed by God. Therefore whoever resists the authority resists the ordinance of God, and those who resist will bring judgment on themselves…

“…Therefore you must be subject, not only because of wrath but also for conscience’ sake. For because of this you also pay taxes, for they are God’s ministers attending continually to this very thing.

“Render therefore to all their due: taxes to whom taxes are due, customs to whom customs, fear to whom fear, honor to whom honor.” (Romans 13:1-2, 5-7)

In this passage Paul is not advocating that believers should obey every law. Clearly a government could pass laws that are in conflict with a Christian worldview. However, as much as possible, we are to respect and comply with those laws where we can.

And as you can see from the text, one of the situations he cites relates to the paying of taxes. So again, for the believer, it’s a step of obedience to God ordained authority to pay ones taxes.

But What About…?

I know you have your “but what about…?” question. We all can think of scenarios where we think it’s wrong to pay a certain type of tax. I live with a CPA so I know how tricky these situations can get.

I don’t see any teaching from the Bible that says we can avoid taxes altogether. Put the above verses together and it seems clear we have an obligation to pay taxes based on the authority vested in governments to institute applicable tax laws.

However, there are no instructions about the morality of reducing one’s tax burden. As long as an individual is working within the framework of applicable tax law, they would not be violating Scripture to lessen the amount of taxes they pay.

What’s Really Legal?

But therein lies the rub for most people. “What’s legal?” and “What can I get away with?” are the two questions asked at tax time. Those are the wrong questions to ask when making a decision. Those questions allow us to walk right up to the edge of indiscretion into some very gray areas. In many cases, we’ll cross the line if there is little chance of us getting caught (i.e. not reporting cash revenue from work).

Those strategies may save you money but they won’t leave you with a clean conscience.

You’ll clearly have to think through your own tax paying strategy. From my standpoint as a follower of Jesus, it’s a matter of personal testimony and obedience. Yes, I don’t necessarily like paying so much in taxes. But the potential consequences – both spiritual and personal – are far worse.

Leave a Comment or Answer a Question Below: What do you think about these Biblical teachings on taxes? Do you think it’s OK to reduce your tax burden by legal means? Do you think governments have gone overboard in taxing people? What can we do about taxes if we don’t like what our government representatives are passing into law?

Photo by Jon Tyson on Unsplash

The post Is the Bible Really Clear About Paying Taxes? appeared first on ApexFinancialCoaching.

Maybe you have invested in the past only to make mistakes. Perhaps you were disappointed with the results. But as they say in the investing world, “past performance is no guarantee of future results.” In other words, just because you’ve had one bad experience in your mind, doesn’t mean that you can’t succeed going forward with a different perspective. 

On the other hand, you may be relatively new to the world of investing and feeling a bit overwhelmed. There is so much terminology to learn. And, how do you sort through all the investing options? 

The good news is that you can do it. Millions of people have. The focus here will be on avoiding six common investment mistakes. If you can learn to steer clear of these issues, you’ll be much more likely to have positive results and meet your investment goals. Let’s take a look at how you can invest your money wisely.

Lack of Diversification

Perhaps the most common investing mistake that beginners make is not diversifying their investments. Any professional will tell you that the secret to investment success is to diversify. Put simply, this means to spread your money around. In other words, don’t put all your eggs in one basket. 

Putting all your eggs in one basket would look like investing all your money into one asset. You increase your risk if all your money goes into XYZ investment. If that one investment does poorly, you risk losing all your money.

However, when you diversify, you spread your money into different stocks. You might even spread your money into different types of investments like mutual funds, bonds, real estate, or collectibles. That way, if one should do poorly, at least you don’t have all your money tied up in one company.

So try starting with at least a few different types of stocks. Then, when you feel more comfortable and are financially ready, you can expand further.

Take Advantage of Digital Calculator Tools

Unless you’re a math wizard, figuring out all the calculations in terms of investments is next to impossible. But you will want to know things like compound interest, returns on dividend stocks, and the final value of certificates of deposit. Knowing these things helps you determine whether or not your investment is a good one. 

Doing math yourself is challenging. But you can get help by using digital calculator tools. Digital calculator tools make financial planning easier and will have you feeling like a professional. Simply key in the important numbers and let the calculator do all the work for you. 

Failure to Research the Company/Business

All too often people end up investing in a company or business that they know nothing about in an industry. They read something online or saw something on TV and have no real information about the company.  You simply cannot go into investing blindly. You have to do the research before putting your money to work. 

Remember, this is your money you are essentially wagering so don’t you want to make a sound investment? Ideally, you want to learn as much as you can about that industry, such as news and trends, so you can get a feel of where the market currently is and where it’s going. Once you better understand that industry, you can break it down further and look at the individual businesses in that space.

Related Content: The Ultimate Beginner’s Guide to Investing Money the Right Way

Not Sticking Around Long Enough

You’ve often heard it said “Patience is a virtue.” In the world of investing, that could not be a truer statement. Rarely does one have an overnight success story.

Making a lot of money quickly is extremely rare. So don’t expect it. The stock market shouldn’t be seen as a get-rich-quick solution.

Instead, you need to play the long game and hold out until the time is right to sell. If you act too fast, you may be shorting yourself on potential profits. The long game may be 20 to 30 years. But you are more likely to win if you invest for the long-term than if you are constantly jumping in and out of your investments. 

Improperly Handling Your Emotions

Money creates emotion. Without it, we feel vulnerable. With some of it we feel settled. With a lot of it, we feel secure.

But ultimately, emotions should not enter into the discussion when it comes to investing. You cannot let emotions drive your investing decisions. That will work out poorly for you in the long run.

Instead, learn to check your emotions at the door and use your mind to make wise investing choices. The stronger your mental capacity to handle the ups and downs of the market, the better off you will be. 

Letting Fear Stop You from Investing

The final mistake people make is an emotional one. They let fear control them and steer them away from investing altogether. Anything new is going to seem scary and intimidating. However, that doesn’t mean you shouldn’t try. If you don’t dip your toes in the water, you’ll never have a chance to improve your investment skills and potentially watch those investments increase in value.

A good tip for beginners is to start with a small amount, only what you’re comfortable losing. Keep your expectations at a minimum. And as you learn, you’ll get wiser about picking your investments and how to best grow your portfolio. 

By being aware of these common mistakes, you’ll be able to avoid many of the pitfalls that beginners in the world of investment fall into. 

Leave a Comment or Answer a Question Below: What other mistakes should investors consider? What has your experience been like with investing? What would you tell someone who is scared to invest based on all they hear from the media? 

Photo by Dylan Calluy on Unsplash

The post Start Investing Your Money Smartly: 6 Common Investment Mistakes to Avoid appeared first on ApexFinancialCoaching.

The aftermath of what we do could lead to a potential mess as this 2012 article from Fox News demonstrates:

“Heirs of a wealthy New York art dealer were left a $65 million sculpture [named “Canyon”]…The bequest comes with a $29 million tax bill, but since the piece includes a stuffed eagle, it can’t be sold…federal law makes it a crime to possess, transport, sell or otherwise convey a bald eagle, whether it is alive or, as in this case, stuffed…The venerable auction house Christie’s placed the value of “Canyon” at zero. The IRS initially put it at $15 million, then jumped the figure to $65 million…”

Most of us will never deal with numbers that large. But it’s no wonder we get confused with our heirs, the courts and the IRS all to think about. It all seems like a big tangled mess.

So what should we do?

Well, the wrong answer is to ignore the wealth transfer process. With better planning, the wealthy art dealer mentioned in the article above could have avoided placing this conflict in the lap of her family. Perhaps asking some relationship and technical questions would have eliminated some confusion and helped the inheritance pass with greater ease.

Family Inheritance Relationship Questions to Ask

When you are ready to set up an inheritance, answer these questions first:

To whom should I leave money?

As I’ve stated in another post on inheritance and children, we only have a few choices when it comes to distributing our assets. We can leave it to our family, friends, charities and the government. One or all of them will receive something depending on the amount of wealth you’ve accumulated and how you choose to leave it.

First, let’s state the obvious: nobody wants more of their money going to the government. It’s tough enough to stomach paying taxes while we are alive. The thought of the government taking more at death through an estate tax is reprehensible to most.

People regularly give to charities, their alma mater, or other non-profit ministries (like their church) at death. This is usually a way for people to bless institutions that touched them during their life or to give to causes they felt passionately about.

The final option is to transfer wealth to individuals, most normally family members but also perhaps friends. This would be seen as the most common option and the place most people initially start when planning who receives their assets.

How much should I leave to each recipient?

It’s such a loaded and complex question, and a highly personal one. So many variables come into play that a person will spend the vast majority of their time in the estate planning process sorting this question out.

Lets assume the government will be excluded from the equation because our net assets will not meet the taxable threshold upon our death. So, we can now focus on heirs and charities only. Some angles and questions to pursue that may help answer this question include:

– What do I value? (or what’s important to me?)

– Who needs the money?

– Who would be the best steward of the money? Will someone mishandle it?

– Where could the effective use of the money touch the most lives?

– What’s the emotional health (maturity) of my family members?

– Am I still responsible to provide for anyone? (like a young child or spouse)

– What causes have touched my life?

It’s a complete personal choice how you dole out the family inheritance. You may feel the breakdown should be 90% family and 10% to charities. Some divide it 50-50. Others give it almost all to charity. Some have even left millions to their pets.

How will this money impact the recipients?

This is a crucial component to consider. Will the assets given at one’s death change somebody’s life? This could be for better or worse depending on the financial maturity of the one receiving family inheritance.

For instance, take this fictitious (but real to life) example:

Kate and Alan have been struggling with money since their marriage started. Each was a single child who grew up in an environment where their parents gave them whatever they wished. They don’t plan out their monthly expenses in a budget and therefore spend more than they make each month. “The future will take care of itself” they say. So they live in the moment, buying whatever they wish and enjoying whatever pleasures they can find.

How will a sudden windfall of money affect this couple? It’s doubtful an influx of money is going to change their behavior. It will only enhance the poor views of and habits related to money management that are already present.

Should I tell my family what to expect?

I can see why you may want to keep this a secret. But do you really want them to be surprised? I would encourage you to communicate with the family ahead of time about your estate plans. In fact, I’d suggest this be an ongoing conversation that extends over years as you plan for the transfer of your wealth.

Having the inheritance talk should get many questions answered and allow a sense of peace to be present for the entire family. Death is emotional enough. There doesn’t need to be shock and conflict surrounding your last wishes.

Family Inheritance Technical Questions to Ask

This next set of questions deals with the legal technicalities of setting up an inhertance.

Do I need professional advice or counsel?

For most basic estates, a person can get by using some basic will software. Quicken WillMaker Plus and Legal Zoom are two good resources to consider.

However, if there is complexity to your estate, it would be advisable to consult an attorney, a financial adviser and even accountant. According to wills and estate planning guides, having these professionals look over or develop and estate plan would be advisable if you:

Are in a second (or later) marriage

Own one or more businesses

Own real estate in more than one state

Have a disabled family member

Still have minor children

Are dealing with a problem child

Don’t have any children

Want to leave some or all of your estate to charity

Have substantial assets in 401(k)s and/or IRAs

Were recently divorced

Recently lost a spouse or other family member

Have a taxable estate for federal and/or state estate tax purposes

The more complex the estate the more advisable it would be to consult a professional. It would be worth the money to pay their fees to do so.

Are the instructions clear?

Above all you want to avoid conflicts with the family inheritance. This can best be done through the use of a will. To die without a will takes all the control out of your hands and places it into the court system. This is surely bound to lead to family tension over who receives what.

Put as much detail into the will as is needed, even if it means listing who gets your collection of baseball cards. There should be as little ambiguity as possible for the executor who will be administering the estate.

You may also consider leaving a letter if there are some personal things to detail outside of the will. This may include a commentary about why you’ve chosen to divide the assets this way, some final thoughts to your children or a list of things around the house you want to make sure someone finds.

Will I be paying an inheritance (estate) tax?

You have a right to transfer property at your death. The amount of that property is subject to tax. Most simple estates will not require the filing of an estate tax return.

The IRS lists the filing thresholds for the estate tax. Being your research there. Then, as mentioned earlier, consult a few professionals if you have questions about your situation.

When should I pay out the inheritance?

This seems like an obvious answer – at death. I’ll need all my money until then. When else would I pay out a family inheritance?

How about before you die.

As I just pointed out, the government will tax individuals whose estate assets exceed the threshold set by the IRS. This tax may be unavoidable for some, while others will fall very close. To help avoid this tax, individuals can choose to give away some of their money during their lifetime, thus reducing the amount of their total assets at death.

Again, this value fluctuates year after year based on inflation rates. So research the amount for the current year. Gifts can also be given to charitable organizations, spouses, political organizations, and for medical and some educational expenses.

This has the added benefit of seeing people you love and organizations you cherish be blessed by and use our money before you die. If they don’t manage it wisely, it may make you reconsider leaving them large portions in the final will and testament.

Conclusion

In the end, it’s up to you who gets the wealth of your estate. If you need help, don’t be afraid to ask or pay for it. Bringing in the right type of advisers could prevent you from making some big financial mistakes.

Setting up a family inheritance requires a great deal of wisdom and preparation. It is necessary though no matter how much wealth you plan to transfer to the next generation. Your family will be hurting emotionally at your death. The last thing they need to worry about is what to do with your assets.

Leave a Comment or Answer a Question Below: What other questions should be asked in the estate planning process? Have you seen a family fight over a family inheritance? Have you had the “inheritance talk” with either your adult parents or your children?

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The post 8 Questions to Ask When Setting Up A Family Inheritance appeared first on ApexFinancialCoaching.

For me, December 1^st officially starts my holidays. That’s because I know that in the 31 days of December, my family will attempt to cram more into each 24-hour period than is usually desired. For me, the annual cramming revolves around two specific lists – my December To-Do List and my Present Wish List.

The To-Do List for December is very important. It’s filled with kid activities, social get-togethers, Christmas programs and of course shopping. Additionally, home chores are also part of the To-Do List. So, because I’m a teacher, I get a “vacation” during Christmas break which gives me a greatly needed window to do these activities and catch up on all that I’ve let slip by.

The other list – the Present Wish List – is all about what I would like to receive on Christmas day during our annual gift exchange. This one is a little tricky and here is why.

There might be 365 things I could say I want. But really there are only 5-8 I would feel comfortable asking someone else to purchase for me. That’s because the price is too high or I’m scared they will get the wrong style or brand. Some years, this wish list becomes more of a regrettable chore to compile than something I enjoy doing. Anyone else have this experience?

So the question for me then becomes, “How do I get the most out of my Christmas wish lists?” How can I maximize my return during the Christmas season and more importantly on Christmas morning?

Changing the Narrative

I’ve thought a lot about this over the years. The older I get the more convinced I am that what I’m about to say is true. If you want to get the most out of Christmas so that you feel very satisfied when January roles around, there is only one thing to do.

You can feel fulfilled by shifting the narrative by one simple word. Instead of thinking and saying the word get, say…

Give.

Your Christmas, my Christmas, anyone’s Christmas should be about giving.

Related Content: A Christmas Memory that Still Challenges Me to This Day

Don’t get me wrong – I love to receive. But different zones in my brain are activated when I give. And they go into overdrive when I see people really appreciate what I do for them.

The pleasure of giving goes deeper than the pleasure of receiving. It makes me feel better. And that feeling stays with me longer, ultimately giving me more long-term satisfaction.

Get the Most Out of Christmas by Giving

Why do the rewards of giving last longer? I think there are some clear reasons why. Let’s look at a comparison between the two.

When you receive a gift, it: 

1. May actually fulfill a specific need. (in which case, I am truly grateful)
2. Most likely fulfills a want. (but that want is a fleeting desire because I always end up wanting more)
3. Could create feelings of obligation to the giver. (I feel like I owe them something because this gift was so awesome)
4. Strengthens the desire to want other stuff. (I’m deprived because I didn’t get that one thing on my list.)
5. Nudges me to desire better. (wishing I had gotten the 18-volt electric drill, not the 12-volt)
6. May create feelings of disappointment. (see numbers 3, 4 and 5 above)

But when you give a gift, it: 

1. Shows others you care about them by being in tune with their needs.
2. Encourages you the giver for being kind.
3. Tells the receiver “I value you.”
4. Stifles selfishness as we place our focus on others.
5. Requires sacrifice of resources.
6. Brings internal and eternal blessings that can’t be measured.

I believe the above giving principles are 100% true, given just one caveat – motive.  You invalidate everything that was just listed in the giving category if you give for the wrong reasons.

Related Content: Giving for the Wrong Reasons This Christmas (Or Anytime)

Enjoy this holiday season to the fullest. Have fun with your holiday To-Do List and your Present Wish List. They will bring you great fulfillment. But remember, to get the most lasting benefit out of Christmas, you have to give.

Leave a Comment or Answer a Question Below: What do you do to get the most out of Christmas time? Do the holidays ever frustrate you? How has giving impacted your life?

Image credit by Alena Ozerova at Shutterstock

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Can you imagine living in a world with no Christmas? What does that look like?

There are no kids eager to wake you up at 7:00 am. No smiles when a gift is received. No feelings of being special. And no comforting thoughts that someone cares for you.

What an unattractive and dismal scenario that paints. Sadly, millions of children all over the world experience a Christmas just like this. Their Christmas is bitter, meaningless and without hope.

That’s where Operation Christmas Child steps in. But they are only able to do so with your help. Here is how.

Operation Christmas Child Shoebox Program

I became aware of Operation Christmas Child over a decade ago. OCC is an outreach ministry of Samaritan’s Purse International Relief headed by Franklin Graham. Churches, civic organizations and single families have all been a part of OCC’s efforts for decades. Their purpose is to bring hope and joy to children all over the world and to share the message of Jesus Christ’s love found in the Bible.

This is accomplished in a unique way – the sending of a shoebox. Actually they send millions of shoeboxes every year.

Each shoebox comes to a single child. Each shoebox is packed with pretty much anything small enough to fit inside the box. Small toys, stuffed animals, hard candy, personal care items, books, hair bows, bracelets, pens and pencils are some of the common items packed every year.

And who initially buys all the items and packs them for Operation Christmas Child?

We do of course.

Packing Shoeboxes

My family has packed many shoeboxes over the years. It always ends up being a highlight of the holiday season. I’ve noticed how our kids love shopping for the items (sometimes with a bit of their own money) and then neatly arranging them in the boxes. We’ve even included handwritten notes or pictures in some of ours.

Many churches are involved in the program. Families pack their own boxes and send them in. Others donate money to the church to buy the items for others to pack. It’s ends up being a great project for the church as a whole, especially when kids or teens participate.

Once all the boxes are filled and collected by your organization, they are dropped off and scanned at a local processing center. There are even options where you can follow your box’s movements online (through tracking technology) to see its final destination. It’s really cool to know your boxes end up in places like Madagascar, Columbia or the Philippines.

The Benefits of Operation Christmas Child

Kid’s lives change when they receive these precious boxes. They feel the love and compassion of the sender with each item they touch. However, they are not the only ones involved in the shoebox process that goes through a transformation. The sender does as well.

I see it every year. Something changes in our spirit as we choose to give of our resources to help those in need. That’s because giving is selfless. It brings us joy in ways we can’t imagine. And it humbly reminds us of our blessings.

Related Content: Giving is Part of Our Nature

So we will continue to stay involved with this tremendous outreach. Even now it’s not too late to donate items or money this year. So go the website to find out how you can be involved. Additionally, you can connect with them on Facebook and Twitter.

The Operation Christmas Child website details the program and provides instructions on how to pack your items. Furthermore, there is a listing of drop-off centers where you can take the boxes. It shouldn’t be difficult to locate a drop-off center close to where you live, as this is a big-time operation. Since 1993, 200 million shoeboxes have been sent across the globe, so many people are involved with this project.

The process is simple. The cause is worthy. The rewards are great – for both the recipient and for you.

So brighten a child’s day this Christmas with a shoebox message of hope. It may be what brings you the most joy this holiday season.

Leave a Comment or Answer a Question Below: Have you ever sent a shoebox to Operation Christmas Child before? What other non-present ways do you plan to give this Christmas? What charities are doing incredible work in your community?

The post Operation Christmas Child: Changing Lives One Shoebox at a Time appeared first on ApexFinancialCoaching.

It happens for big things and small things. For things we would consider hard and even for things that might be easy. Whatever the goal, it’s challenging to push through and achieve the success you are looking for.

I remember years ago when I shared that we had finally paid off our mortgage early and the four big reasons why we did that. Many people on this blog and on my Facebook page were excited for us. Believe me, so were we. It had been a conviction of our to push through that final debt and knock it out in the span of four years.  

But I also remember some of the comments shared with us were from people who were discouraged. They talked about how long it would take them to pay off their mortgage and that they couldn’t imagine ever reaching that goal. To them, our victory was a reminder that their end was nowhere in sight.

If you feel that way, like the end is never going to come, I’d like to encourage you by saying three things:

1. We felt that emotion too.

2. Take one step at a time.

3. The tortoise always wins.

Stay the Course and Have Success

I’m a person of faith. I live my life through the lens and teachings of the Bible. Many verses speak to me on this topic, but one specifically stands out. It’s from Proverbs 21:5 and reads:

“The plans of the diligent lead surely to plenty, but those of everyone who is hasty, surely to poverty.”

The diligent person is one who shows care and focus for their duties. They work carefully, show persistence, and are dedicated to every task. They stick with the plan despite all the challenges  thrown their way.

In short, they stay the course.

The verse uses the word “plenty” to describe the outcome of being diligent. I translate that as having success. Reaching the goal. Acquiring more than enough. Winning.

In contrast, the hasty rush through tasks. They make rash, spur-of-the-moment decisions based on the direction the wind blows. If they have a plan, it doesn’t have the teeth to withstand testing or opposition.

Notice that the outcome of being hasty is quite different. Whereas the diligent prosper, the hasty do not. Poverty is waiting at their door.

In other words, hastiness leads to failure. Falling short. Living without. Losing. I don’t think that’s the place any of us what to be.

So how do you stay the course? Methodically.

Related Content: Want to Chase Your Dreams? This is the Right Way to Win Big

Building Blocks

Goals aren’t reached by being hasty. We didn’t pay off our mortgage that way. We took slow, methodical steps, each one building on the other.

Our journey went something like this:

1. After all our debt was gone, we bulked up our emergency fund so that we had 3-6 months of expenses in our bank savings account.
2. When that was fully funded, we began investing more for retirement.
3. Next in line was building the kid’s college funds.
4. Finally, with any extra money we could find from our monthly income sources, we plunked away at the mortgage, little by little.

Those last three steps did happen concurrently. We worked on them at the same time. However, we didn’t begin the next one until the foundation had been set and the ball rolling from the step before.

My point is that we didn’t start our financial journey at paying off the mortgage. There were things that needed to be done before that. Laying the groundwork with the more fundamental steps led to quicker progress on the bigger goal.

The payoff also didn’t happen overnight. We had to be patient. And that is always hard when you want something badly. But again, we knew there was no shortcut. We had to stick with our plan and slog through it.

Related Content: Count the Cost: The Secret Step to Success at Anything

Slow and Steady Wins the Race

It may be a long time before your financial dreams will be realized. My challenge today is not to get discouraged and stay the course. Making hasty, rash decisions based on your emotions will not help you reach the destination quicker. More than likely, those will lead to a setback that only prolongs the journey.

So it really is one step at a time. Slow and steady wins the race. Focus, be determined and stay the course on whatever goal it is you have.

Leave a Comment or Answer a Question Below: How do you keep from becoming discouraged about your financial journey? Have you ever had the urge to take a shortcut to reach a goal? Are you content to progress slowly and stay the course, waiting to meet certain financial goals? Or do you want it all to happen now?

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