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Biblical Viewpoints Of Money and Wealth Part 3
Are you ready to dive deeper into God’s design for generosity, giving, and leaving a lasting legacy? In this final part of our series, Bob and Shawn explore Biblical perspectives on using wealth to bless others and how to properly pass on an inheritance that impacts generations to come.
“Biblical Viewpoints of Money and Wealth” emphasizes the importance of stewardship and giving from a Biblical worldview. In this episode, weeks 6 and 7 are summarized, which includes the ripple effect of giving and the proper way to leave an inheritance and legacy for future generations.
HOSTED BY: Bob Barber, CWS®, CKA®
CO-HOST: Shawn Peters
Mentioned In This Episode
Christian Financial Advisors
Bob Barber, CWS®, CKA®
Shawn Peters
Biblical Viewpoints of Money and Wealth
Bible Verses In This Episode
MATTHEW 25:34-40
Then the King will say to those on his right, ‘Come, you who are blessed by my Father; take your inheritance, the kingdom prepared for you since the creation of the world. For I was hungry and you gave me something to eat, I was thirsty and you gave me something to drink, I was a stranger and you invited me in, I needed clothes and you clothed me, I was sick and you looked after me, I was in prison and you came to visit me.’
Then the righteous will answer him, ‘Lord, when did we see you hungry and feed you, or thirsty and give you something to drink? When did we see you a stranger and invite you in, or needing clothes and clothe you? When did we see you sick or in prison and go to visit you?’
“The King will reply, ‘Truly I tell you, whatever you did for one of the least of these brothers and sisters of mine, you did for me.’
PROVERBS 20:21
Wisdom, like an inheritance, is a good thing and benefits those who see the sun.
ECCLESIASTES 11:2
Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land.
MATTHEW 6:19-21
Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.
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EPISODE TRANSCRIPT
Shawn:
Are you ready to dive deeper into God’s design for generosity, giving, and leaving a lasting legacy? In this final part of our series, we’ll explore Biblical perspectives on using wealth to bless others and how to properly pass on an inheritance that impacts generations to come. Let’s get some perspective.
Welcome back to another episode of Christian Financial Perspectives. My name’s Shawn Peters. This is Bob Barber. we’re going to be covering part three of a series that we’ve been doing. Six years ago, Bob wrote a seven week bible study called “Biblical Viewpoints of Money and Wealth”, and we’ve been giving this brief overview of the Bible study over the course of three videos with today being that final video. So if you’ve not heard parts one and two, we would definitely encourage you to listen or watch those first. So we’ll wait for a sec. Alright, if you’re still here, we’re assuming you watched, you listened to the first two. So this seven week Bible study explores God’s design for money, stewardship, and creating a lasting legacy. If you want a copy of this Bible study for you or for a small group, just click the link that we have in the description, or you can search on Amazon for Biblical viewpoints of money and wealth. So Bob, why don’t you give our viewers and listeners a little bit on what exactly is the foundation of this study? What are we looking at?
Bob:
Okay, so the foundation of the study looks at how wealth comes from belongs to and should honor God, as well as how wealth should be distributed wisely to the next generation. Using wealth Biblically is providing for those that God has entrusted to us, like our family, supporting the church, spreading the gospel, supporting missionaries, providing for God’s family, feeding the hungry, clothing to poor, sheltering the homeless, healing the sick, educating the homeless, protecting the innocent, and providing for widows and orphans.
Shawn:
Is that all?
Bob:
Yeah, so that’s truly a synopsis of the entire study just right there in what that is, what the study is about. It is a very deep study that gets into God’s word. You are going to be going from scripture to scripture and seeing what God’s word has to say about stewardship because as many Biblical scholars agree, there’s over 1500 to 2000 scriptures on stewardship, and Jesus spoke on stewardship more than any other subject, even more than heaven and hell combined. So stewardship was very important to our savior.
Shawn:
That’s right. And a lot of this really comes down to the mind and heart of the individual. And so this book is very much a Bible study. This is not a book with a whole lot of writing and occasionally there’s a Bible verse.
Bob:
Well, you can see right here if you’re watching the video, it’s not that thick, but there’s a lot of looking up of scripture.
Shawn:
It’d be a lot thicker if we already put every single scripture in there.
Bob:
It would probably be an inch thick if that was the case.
Shawn:
That’s right. So really what this goes into is again, the heart and mind of each one of us and helping us look at it from that Biblical perspective. So there’s not a bunch of tips on budgeting and cash flow and investing and things like that because if you get your heart and mind right first, then you can start looking at that.
Bob:
This is the foundation.
Shawn:
That’s right. So the seven viewpoints that we go through in this Bible study over typically a seven week period, you can go faster if you’d like, but number one, the difference between a Biblical and secular worldview, this is the foundation for the rest of the Bible study and being able to handle wealth from a Biblical perspective.
Bob:
We look at the difference in the second week of an owner and a manager. We take an example of a restaurant owner, you have a restaurant owner and you have the manager that’s running the restaurant. Could be both.
Shawn:
Very different roles.
Bob:
But they’re very different roles. They are.
Shawn:
Number three or week three, we go through the Biblical worldview of work and retirement. For those of you who maybe have not listened to any of our previous podcasts, we have definitely talked about this before, but work is mentioned a lot.
Bob:
Over 500 times.
Shawn:
That’s right. And how many times is retirement mentioned?
Bob:
One time.
Shawn:
Once and it was for the priest. Very specific situation.
Bob:
But they will teach the younger.
Shawn:
That’s right. And they didn’t retire from work, they retired from that particular position.
Bob:
And they go into a teaching mode. So that’s the way I look at it.
Shawn:
And then chapter four or week four, what are we covering there, Bob?
Bob:
The difference between secular and Biblical counsel, and we got pretty deep into that a couple sessions ago, but you’ll really have your mind open to this where you’ve never thought about the counsel that you’re getting because it’s coming to you from a secular worldview or a Biblical worldview, all of it.
Shawn:
Chapter five, week five, money and wealth from a Biblical worldview, also a very good one. And number six…
Bob:
Giving and blessings, which we’re going to cover today. We’re going to give you a little short part of that. And then the last one is properly leaving an inheritance and legacy for the following generations, which is so important because the word in there, the keyword is properly leaving that inheritance, not just throwing it to them.
Shawn:
Right. So today we’ll be giving you a brief overview of what the last two weeks of this study covers as we’ve done in our previous two episodes covering the first five weeks of the study. So let’s get started. Week six, giving and blessing from a Biblical worldview. One of the scriptures that we dive deep into for this week of the study is Matthew 25:34-40. Do you want me to go through that scripture?
Bob:
You got it. Go for it. Go for it.
Shawn:
“Then the king will say to those on his right, ‘Come you who are blessed by my father, take your inheritance, the kingdom prepared for you since the creation of the world. For I was hungry and you gave me something to eat, I was thirsty and you gave me something to drink. I was a stranger and you invited me in. I needed clothes and you clothed me. I was sick and you looked after me. I was in prison and you came to visit me.’ Then the righteous will answer him, ‘Lord, when did we see you hungry and feed you or thirsty and give you something to drink? When did we see you a stranger and invite you in or needing clothes and clothe you? When did we see you sick or in prison and go to visit you?’ The king will reply, ‘Truly, I tell you, whatever you did for one of the least of these brothers and sisters of mine, you did for me.'”
Bob:
So when you think about giving from a Biblical worldview, this is a very good scripture to look at. And what we do in this study as a small group is we list up to 10 ways that we can use the resources that God has blessed us with to help others and bring glory to God. So some examples of that would be providing shelter. You can see where it talks about providing shelter, providing food and shelter for the homeless and mentally ill. Most people don’t realize that the homeless have mental illness. That’s one of the main causes most of the time of homelessness, volunteering at a local food bank or ministry like Habitat for Humanity, which helps build homes for those that are not so fortunate, ministering to the sick in a hospital or a nursing home. That is such a great way that we can help give of our time and resources.
Shawn:
That’s right. And what’s interesting too, of the three examples you gave, Bob, volunteering at the local food bank ministry, ministering to the sick and a hospital nursing home. Both of those two are something that basically any of us can do because neither of those really require monetary resources, just our time and willingness to serve.
Bob:
That’s right.
Shawn:
So other areas that are covered in week six are the four different ways of giving.
Bob:
Which most people don’t think that there’s four different ways of giving, but we go into that in detail.
Shawn:
And the ripple effect of giving. So why don’t you go ahead and give us the example.
Bob:
Well, the examples of the ripple effect. So you think about when you throw a rock into a pond, what happens? You have this ripple effect that goes out, it’s all the way around 360 degrees. So God gives to us and when he gives to us, we’re receiving. But when we take that and we give to others, they are receiving. So it carries the ripple effect and this giving multiplies when it flows from God through us to others. So look at us like a vessel. It’s coming through us like a pipeline.
Shawn:
Yeah, that’s right.
Bob:
We mentioned this in the study, the Dead Sea. Why is the Dead Sea dead?
Shawn:
It doesn’t have any outflow.
Bob:
Exactly. Everything goes into it, but nothing outflows. That’s what can happen in our lives if we’re only just take, take, take, but we’re never giving to others generous giving. When we’re generously giving, it’s teaching others, our children are seeing it, our grandchildren are seeing it, others are seeing it, as well as the following generations, and we want to teach them to be generous givers. And that’s this week six of this study talks about is giving really from a different perspective and looking at it from a Biblical worldview.
Shawn:
Well, and as it is said, it’s better to give than to receive.
Bob:
Yes. And most people don’t realize that it’s more blessed to give than receive because like you say, you’re not all stopped up kind of like the dead sea.
Shawn:
Exactly. So then in the last week of the seven part series we go into or it goes into properly leaving an inheritance and legacy for the following generations.
Bob:
Again, not talked about much, is it Shawn? When you hear about money, it’s always talked about budgeting or debt. But this is very important, especially for parents and grandparents. This is a good Bible study for them.
Shawn:
And I would guarantee you, Bob, that most people, unless maybe they’ve gone through a study like this or gotten to some of the same conclusions, but most people would look at when you leave an inheritance, oh well okay, if you have two kids, then 50/50. If you have three kids and you divide it into thirds. If you have whatever the case may be, it’s like, oh yeah, every kid gets an equal share air. And honestly, that’s a terrible method to use for a number of reasons, which we do go into, but it doesn’t need to be equal. And the thing that we definitely encourage our clients here and anyone who’s watching or listening, remember that there’s at least one extra party, the church, missionaries, expanding the Kingdom of God. Your inheritance to your descendants does not have to be all directly to them. So anyway, without further ado.
Bob:
An inheritance left that’s not thought about through the eyes of scripture can hurt so much more than it can help. People don’t realize that. And Proverbs 20:21 is the scripture we look at in this Bible study, “An inheritance claimed too soon will not be blessed in the end.”
Shawn:
That’s true.
Bob:
And that’s a very strong scripture. And what does that mean? How do we take that and apply that? I believe it means that inheritance given to the next generation can be given slowly. It doesn’t have to be all given at once. And today with the tools that we have, setting up a trust. And you can give a percentage, a 3%, 5% a year out to the next generation. There’s nothing wrong with it going slowly over the next 10 or 15 years while they learn to handle it.
Shawn:
Exactly. That also has the added benefit of if you’re setting this up, instead of it just being a X amount of dollars after taxes and everything but X amount of dollars that goes to your kids, well you could set up that trust where only a certain amount goes out. So then your kids and their kids and their kids would continue to see a benefit from this and that over time it could continue to bless multiple generations instead of what is it on average if an inheritance is received as a lump sum, it’s what, 18 to 24 months on average?
Bob:
Yeah, about 18 to three years, it’s gone. Yeah, I mean that’s not everyone.
Shawn:
No, it’s not.
Bob:
But that is a large percentage of inheritance is spent what the parents and the grandparents spent 20 and 30 years saving and putting together can be spent in literally three or four years, and it’s gone. And I’ve seen it in my 35 years in this business many, many times. But Ecclesiastes says, “Wisdom like an inheritance is a good thing and benefits those who see the sun,” is what it says. But you realize what it says first it says wisdom. And if we’re passing down a financial inheritance without passing down wisdom, that’s a recipe for disaster.
Shawn:
That’s right.
Bob:
And I love this last one, Matthew. Go ahead.
Shawn:
Matthew 6:19-21, “Do not store up for yourselves treasures on earth where moths and vermin destroy and where thieves break in and steal, but store up for yourselves treasures in heaven where moths and vermin do not destroy and where thieves do not break in and steal for where your treasure is there, your heart will be also.”
Bob:
So in this Bible study, what we do, we take these scriptures and you’re going to write down three things that you would most like your heirs to inherit that’s not associated with money, wealth, or anything that can rust, burn, or deteriorate over time. Let me say that one more time. You write down three things that you would most like to pass down to your children, your children’s children, not associated with money, wealth, or anything that can rust, burn or deteriorate over time. That takes away all the material possessions because I want to pass down to my children things like wisdom, faith in Jesus, and a good name. I want to pass me having a good name and reputation and I hope that they do the same.
Shawn:
One of the last things that you’ll do in this final week of the study will be how to leave an inheritance and legacy for the following generations properly. And we will give you three thought provoking examples of how your heirs, or how to determine if your heirs are ready, to inherit money and wealth wisely. Things like they are responsible with their earnings.
Bob:
Yeah, they’re not in a bunch of high credit card debt.
Shawn:
You have seen them regularly save and budget wisely, and you notice that they are givers to worthy causes, church, missionaries, other non-profits. Yeah, those are just some examples of things to look for to see are they ready to inherit money and wealth.
Bob:
So there you go. That’s our three part series on this Bible study. We have literally, hundreds of churches in Texas and South Texas have gone through this study. The first part of it was called “Seven Pillars of Biblical Stewardship”, and then this is the revised edition, which is much easier to follow. We really hope that you get excited about this. I think once you’ve gone through it, you will see the excitement. We’ve seen changed lives, and we just pray that God will use this Bible study to renew your mind and transform how you think and how you view and other people view how they handle money through God’s lens.
Shawn:
That’s right. And if this study does sound exciting or beneficial to you, please consider purchasing your own copy for yourself or for your small group, Bible study group. You can click the link in the description or search on Amazon for Biblical viewpoints of money and wealth. Also, don’t forget to share this episode with others who might find it beneficial. Feel free to reach out to us by phone or text with any comments or questions at (830) 609-6986. As always, thank you and God bless you.
[DISCLOSURES]
* Investment advisory services offered through Christian Investment Advisors Inc dba Christian Financial Advisors, a registered investment advisor registered with the SEC. Registration as an investment advisor does not imply a certain level of skill or training. Comments from today’s show are for informational purposes only and not to be considered investment advice or recommendations to buy or sell any company that may have been mentioned or discussed. The opinions expressed are solely those of the hosts, Bob Barber and Shawn Peters, and their guests. Bob and Shawn do not provide tax advice and encourage you to seek guidance from a tax professional. While Christian Financial Advisors believes the information to be accurate and reliable, we do not claim or have responsibility for its completeness, accuracy, or reliability.