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Victory in Economic Uncertainty

How do you do personal financial planning when the world is in chaos? Please consider the following thoughts from financial planner and author Ron Blue at the Freedom to Serve Conference in Atlanta (Fall 2003). We can not seem to make it through any decade in recent history without some kind of event that leads to economic upheaval. In the lifetime of a 60-year old, it started with World War II. It was followed by the Korean War, the Cuban Missile Crisis, the oil embargo, runaway inflation, budget deficits, terrorism, corporate fraud, and rampant personal debt.

Economic uncertainty is certain. The good news for the Christian is that there are principles that transcend economic uncertainty. In other words, we have a prescription to guide us through difficult times.

Practical Help

The Bible contains a “blueprint” for financial planning that is rock solid. Consider the following verses:

  • Have a plan – “The plans of the diligent lead surely to advantage…” Prov 21:5
  • Avoid debt – “…the borrower becomes the lender’s slave.” Prov 22:7
  • Spend less than you earn – “There is precious treasure and oil in the dwelling of the wise, but a foolish man swallows it up.” Prov 21:20
  • Save for the future – “…the ant…prepares her food in the summer and gathers her provision in the harvest.” Prov 6:6-8
  • Diversify – “Divide your portion to seven, or even to eight….” Eccl 11:2
  • Have self control – “…in your knowledge, self control…” 2 Pet 1:6
  • Focus – “For where your treasure is, there will your heart be also.” Luke 12:34

You will make better decisions with a long-term perspective! Let these principles guide your decision making.

The views are those of Bruce Olmstead and not those of Summit Brokerage Services. Investments in securities do not offer a fix rate of return. Principal, yield and/or share price will fluctuate with changes in market conditions and, when sold or redeemed, you may receive more or less than originally invested.  No system or financial planning strategy can guarantee future results