Don’t Waste This Crisis

Don’t Waste This Crisis

In his weekly commentary released on March 23, 2020, Senior Portfolio Manager, Chief Equity Strategist, Bob Doll states:

We think stocks remain in a bottoming process. Bottoming is a process, not an event, meaning this could take some time.

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As a financial advisor in 2008, I, too, experienced the painful process of the market bottoming out. It seemed like the drop in the market was also reflective of my life. In the months (even years) leading up to 2008, I was struggling to understand my purpose and God’s call on my life. That fall, I was asked to put my name forward in the Federal General Election and despite my slim odds of winning, I became a candidate. (The steepest drop on the chart highlighted in yellow represents the bail-out vote failure and also the time period that I was campaigning). My political career was short! After the loss on election night, I was back to facing the reality of significant financial loss in clients’ portfolios and the stress of a more difficult work situation. My emotions paralleled the chart of the stock market crash at that time.

 

This time of crisis caused me to question everything. Through a deep time of soul searching, I began to see what was previously hidden to me. I had imagined my work only to be God’s provision when in fact, it was God’s providence in a much deeper way than I had realized. He had always been part of my life but I had not made Him part of my practice. Through this process of bottoming, my practice became more than just a job; this was a mission, a fulfillment of God’s purpose for me. I was walking with clients through some of the most difficult times in their lives.  I was able to bring focus and provide a perspective that they needed in this financial storm. My life wasn’t to be a search to find God’s call but rather a living out of that call where God had already placed me – in a financial planning career!

There is a spiritual purpose when crisis happens.  I had to run to God, and nowhere else, as a refuge during my ‘perfect storm” of 2008.

The name of the Lord is a strong tower; the righteous run to it and are protected. The wealth of the rich is his fortified city; in his imagination it is like a high wall (Proverbs 18:10-11 CSB).

This proverb reveals that the greatest risk of wealth is “spiritual risk.” Most believe the greatest risk is the potential loss in value from our investment choices; that’s investment risk. However, the spiritual risk of trusting the security of money rather than seeing the Lord as our strong fortress is dangerous. We can begin to trust it more than God. Oftentimes, we imagine money to provide more security than is possible. Crisis has a way of refocusing us like nothing else.

Coronavirus is invisible, yet, we see the effects of it in our world today. What if the purpose of this crisis is to cause us to spiritually see the invisible? Dr. Tony Evans said, “If all you see is what you see, you do not see all there is to be seen.”

Maybe a pandemic and economic crisis is meant to open our eyes to the invisible.  Wisdom teaches that instead of imagining money and even our jobs, as our security, we should run to the only true refuge; the name of the Lord.  We must allow the invisible to affect us, especially in crisis. Don’t let this crisis go to waste. If we come through this and are able to see what was previously hidden, then this crisis has an eye-opening, spiritual purpose.

How are you feeling in the midst of this storm? How will you use this crisis ?

Have You Hit Bottom Yet?

Have You Hit Bottom Yet?

It is hard to believe what is happening in our world these past few weeks. Conferences, major international sporting events, schools are cancelled and even our country’s borders are being restricted. Provinces have declared states of emergency while most people are now working from home where possible. Many businesses are shut down to guard against infection of Coronavirus which is wreaking havoc on the economy.

Screen Shot 2020-03-19 at 3.37.57 PMThe end of February saw the sharpest 7- day decline in the history of the stock market. Markets go through downturns, corrections and even crashes for many different reasons. In 2008, it was the housing crisis, prior to that, we had the technology bubble and 9-11, so a 30% loss is not really anything new. Ron Blue, the founder of Kingdom Advisors says, “Fear is a normal human response to economic uncertainty.” I have heard it said that “It’s different this time and what we are experiencing now is unprecedented,” but the fact is, “Economic uncertainty is certain.” The reasons for the uncertainty are always different, but the response is the same every time: fear and panic.

The Bible instructs us to “Be anxious for nothing” yet, fear and panic is the typical and natural response. It was even this way in the time of Jesus. Think of the disciples in their boat in the midst of the storm – they were in panic mode, “But Jesus was sleeping!” (Matt. 8:24b). Jesus was in a different place, yet, he was in the same boat as the disciples who were fearful. He was emotionally and spiritually secure, resting despite being tossed by the wind and waves just like the disciples. Jesus said they had “little faith.”

Back to the markets for a minute: Bob Doll, Chief Economic Strategist, said on March 16 in his commentary, “We think stocks are bottoming, but that process will take some time.” I recently heard him say the market making a bottom is not an event, it’s a process. I expect the same is true for us; when we are in the midst of fear and panic, the move from there (place of fear) to faith and confidence is a process, not an event. 

Phil. 4:6-7 instructs us to “bring everything through prayer & petition, with thanksgiving.” I believe this is the process that moves us from being anxious about everything to the peace which surpasses all understanding, where our hearts and minds are guarded and we can sleep in the storm.  Part of that process is thanksgiving. How are we thankful today? If you have suffered a paper loss on your investments in recent days, you may not be happy about it, but you can certainly be thankful that you have those investments (many have no investments and would love to have your losses because it means they at least have investments).

It is easy to quote a Bible verse and feel we get it, but in reality, getting to that place of rest and peace is a process, a journey. Being thankful is part of that process and it seems that crisis is often part of that journey, at least from my experience. 

Please look at this graph below. Where would you graph yourself today?

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Now go back to early February 2020, when things were much more stable, markets were making new highs and there were just whispers of Coronavirus. Would you graph yourself differently?  Our circumstances tend to shift us from faith into fear, then we tend to bottom out and the process of making a bottom (like in the markets) begins. That typically means we bounce from “mostly fearful” to “some fear,” maybe back to “mostly fearful” until some truth enters our hearts and we move to “neutral.” Then more toward “some faith,” maybe back to “neutral” but the more truth enters, the more “faith-filled” we become. That process in the market is very much like the process of shifting us away from “mostly fearful” and closer to that place where “the peace of God which surpasses our understanding will guard our hearts & minds.”

If you are a financial advisor, you have the opportunity to walk with your clients through this process. In the midst of self-isolation, pray for opportunities to strengthen and encourage others to move away from the fear that so easily fills our hearts. Once you get to that place of faith, circumstances tend to have less and less of an impact and we can remain strong. This is what it means to “walk by faith and not by sight,” (or the circumstances around us). Getting to that place is a process!

Where are you in the process? Closer to “mostly fearful” or “faith-filled?”

 

 

Are Your Financial Decisions Guided by the Bible?

Are Your Financial Decisions Guided by the Bible?

It seems pretty natural for Christians to desire to be guided by the wisdom found in the Bible. However, as I have worked in the financial services industry for close to 30 years, I have discovered that often what guides many Christians is not significantly different than non-Christians; culture is often a greater influence than scripture.

James 3:15-17 makes it very clear that there is a vast difference between wisdom that is earthly vs. wisdom from above. The basis of all financial decisions should be wisdom from above, but as Ron Blue, the founder of Kingdom Advisors states, “Traditional financial planning is based on earthly wisdom.” Earthly wisdom contains such things as jealousy, selfishness, and an unspiritual focus. The Contemporary English Version clarifies:

Whenever people are jealous or selfish, they cause trouble and do all sorts of cruel things.

For where there is envy and selfish ambition, there is disorder and every evil practice. (Christian Standard Bible)

This passage is often not considered in relation to finances, but the truth is many Christians are financially motivated by selfish ambition and have thoughts of envy when comparing themselves to others. We cannot really escape the truth that what guides many Christians is “earthly wisdom,” and not “the wisdom from above.”

But the wisdom from above is pure first of all; it is also peaceful, gentle, and friendly; it is full of compassion and produces a harvest of good deeds; it is free from prejudice and hypocrisy.  (James 3:17 Good News Translation)

Lives that are lived based on non-traditional financial planning, “wisdom from above,” or guided by the Bible will produce a harvest of good deeds which comes from being filled with compassion.

Consider your perspective on retirement and what shapes that view. Retirement is often seen as the opportunity to focus more on pleasure and leisure; therefore, the major purpose of financial planning is to get you to a place where you can afford to do exactly that. Our culture has positioned retirement as a time of ceasing from work for a life of leisure; however, this lifestyle will likely be a lot less fulfilling. No doubt, leisure is meant to be part of our lives, but I am not convinced it is to be all-consuming.

Please reflect on “the wisdom from above” around retirement. May I suggest that producing “a harvest of good deeds” should not be limited to our working years but  extend into our retirement years.

Mitch Anthony, in his book “The New Retirementality” shares this wisdom:

For the past 15 to 20 years the institution of retirement has been morphing into something other than what we are familiar with. The idea has been evolving slowly toward something other than a playground for senior citizens. The revolution taking place is that many are seeing this stage of life as just the opposite – the most fertile period of life for meaningful pursuit.

Consider this biblical wisdom: “There is nothing better for a person than to eat, drink, and enjoy his work. I have seen that even this is from God’s hand.” (Eccl. 2:24 CSB) This verse seems a perfect description for retirement, but one thing on the list doesn’t seem to fit … work. Is it possible that culture has developed a distorted view of work?

Culture today positions work as something that defines who we are. When we meet someone for the first time we usually ask, “What do you do?” It is as if our job or position defines us. Work is often referred to as “a necessary evil,” or drudgery and simply a means of earning income. The general thinking is: the harder I work, the greater my income because work is the source of income. If work provides no more meaning than this, it makes perfect sense to work toward retirement and leave our place of employment as soon as we can. Maybe we have allowed culture to shape our thinking around work and retirement more than discovering biblical wisdom on the topic.

It is of vital importance to live our lives intentionally seeking out wisdom (from above) to guide us. Look at Eph 2:10 (CSB):

For we are his workmanship, created in Christ Jesus for good works, which God prepared ahead of time for us to do.

From this verse we learn:

  1. We are a product of God working in our lives, so in essence, He defines us; it is not our work that defines us.
  2. We are created to work (work is normative and expected).
  3. Our work is to be good work (completed with excellence for the good of others having eternal impact).
  4. God has prepared us and equipped us with skills, intelligence experiences, etc. to complete the work He planned for us.
  5. The focus and motivation of our work should not be income. God is the source of our income and uses the work He gave us to do as a means of supply for our needs. Refer to Matt. 6:32-33 (NLT) where unbelievers’ thoughts are dominated by worry for future supply of needs, but those who seek the Kingdom above all else are given all they need (God is their supply). The personal income of believers is linked to trust in God and their focus is not earning that income, but simply doing the work that was prepared for them.

Simply seeing work as something that God has prepared for us to do should shift our thinking. If God has prepared us for this work, how can we retire from it?

Mitch Anthony often says,

“Don’t retire from something, retire to something.”

The point is that you may very well retire from your job or career, but retirement should become an opportunity to continue in your calling, maybe in a different form. You may or may not be paid for this “work” but it will be very meaningful. Anthony stresses the importance of “extracting the most meaning from the means you possess.”

As a Christian, what influences your financial decisions most –  earthly wisdom or wisdom from above?

 

 

 

Recalibrate Your Heart!

Recalibrate Your Heart!

Recalibrate is such an interesting word, especially when it comes to a persons life. The Cambridge Dictionary defines the verb this way: to make small changes to an instrument so that it measures accurately. 

Merriam-Webster Dictionary helps clarify the term further by putting it into a sentence:

… these systems gradually drift off course so that the navigator periodically needs a fresh point of reference to recalibrate the navigation system.— Stefi Weisburd 

When it comes to our lives and our hearts, we all need a reference point if we are to recalibrate properly. In a blog posted in 2011, Mark Mallett stated, “The heart is a finely tuned instrument. It is also delicate.” He goes on to say, “… all the bumps along the way can throw the heart out of calibration.” Life has a way of knocking us about and we need recalibration to our point of reference from time to time. Recognizing the proper reference point for our lives is the key to recalibrating our hearts. For me, the reference point is my Creator. “Remember your Creator” (Eccl. 12:1a) is a verse that comes to mind. The idea here is to intentionally  focus or meditate on, which is an inward mental act that leads to external acts. The purpose of remembering is really to align our thoughts, or to recalibrate our hearts so they are properly aligned with our “point of reference.”

This is necessary because we tend to lose our focus. Deut. 8:18 is a prime example where the instruction is to: “Remember the Lord your God, for it is He who is giving you power to make wealth …” When we fail to recalibrate regularly, we begin to believe that we have attained this wealth with our own abilities and we even believe that we own any wealth that is accumulated. Recalibration allows us to see that everything we have (wealth & possessions) comes from our Creator (see Col. 1:16) and belongs to Him (Psalms 24:1). When we recalibrate our hearts, we no longer think too highly of ourselves.

It is clear that we all need to be intentional and take the time necessary to recalibrate or “set our hearts.” Here are a few examples of these instructions in Scripture:

If wealth increases, don’t set your heart on it (Psalms 62:10). This becomes an issue because “The wealth of the rich is their fortified city, they imagine it a wall too high to scale” (Prov. 18:11). Why is recalibration of our heart so important? Without it our imagination gets the better of us and wealth quickly becomes our false security.

Then there is an example of King Rehoboam who “did evil because he did not set his heart to seek the Lord” (2 Chron. 12:14).  Failing to recalibrate our hearts allows us to focus on things that only seem to be important. Remember when Jesus rebuked Peter? It was because he did not set his mind (heart) on God’s interest, but man’s (Matt. 16:23). Peter’s focus was on the earthly kingdom that he thought Christ was establishing and potentially his leadership role in that kingdom rather than the the eternal (thus the rebuke and that he was being influenced by satan). In other words, Peter needed to recalibrate, as he had just previously done when it was revealed to him, from heaven, who Christ really was, prior to this rebuke. That demonstrates how much we need to set our minds on things above (Col. 3:1-3) or recalibrate our hearts.

Don’t be alarmed when you realize that you have to recalibrate your heart often, or that you have gone for hours without even thinking of God! Rather, use this as a moment to humble yourself and acknowledge that you are maybe not as in love with God as you thought you were, that you seek your kingdom more than His, and that there is still much conversion left in your life. 

The purpose of recalibrating our hearts is to be able to hear from heaven, to hear from the One who calls us with purpose. We need to have times where we simply re-focus in order to gain the right perspective. Maybe that’s a time in the morning and/or the evening. Maybe it is setting aside a day in a month, or a few days in a quarter, or even a week or weekend in a year that is set aside for this purpose. We all need to have these times where we recalibrate our hearts, otherwise we will gradually and surely drift off course. 

I recently set aside a few days to do this myself and write my thoughts. It helped me realize that my Creator’s thoughts are higher than mine and if I don’t take the time to align my thoughts with His, I will just walk in my own ways and fail to seek His ways (which again are so much higher). Can I challenge you to set aside time to simply reflect in silence, worship and learn, in order to recalibrate your heart?

Can you set aside an hour to make this a priority? Or maybe a day just to slow down and stop to recalibrate? When you do, you will most certainly become more effective.

Money & Motorcycles: My Financial Advice Journey

Money & Motorcycles: My Financial Advice Journey

I often joke about the first piece of financial advice I gave to my wife after only 6 months of marriage. During her first year of teaching and before we were married, she had been counselled by her Credit Union to start saving in a Registered Retirement Savings Plan (RRSP). Just starting out, we didn’t have many other resources and we, (actually, more like I), desired to have a motorcycle. We did not want to borrow to purchase, so unknowingly, we did live by one Biblical financial principle which is to “avoid the use of debt.”

My financial advice as a brand new husband was to cash in the RRSP so we could enjoy some time together on our motorcycle. I had no idea that there would even be a tax consequence to this redemption, so this was not part of my thinking. The other thing I failed to consider was the time value of money. That original investment (more than 30 years ago), would now be worth 15 to 20 times more than the value at that time. I did not know or understand the biblical financial principles shared in my last blog. As a young couple, building liquidity or setting long term goals were not on our list of priorities.

While this financial decision may not have been the best, it did bring us much enjoyment, which is one of the things money can accomplish. In 1 Timothy 6:17b, we are instructed not to trust in money, but have confidence in God “who richly supplies us with all things to enjoy.”

The irony is amazing because this same Credit Union that gave good advice to my wife (to invest in an RRSP) later became my employer. As one of their financial planners, naturally, my advice was based on industry standards. As a Christian, I acted with integrity and provided good counsel to clients, but the focus of my advice did not intentionally incorporate biblical financial principles.

A condensed version of my financial advice journey.

If you watch my story that I briefly shared last week at the 2019 Kingdom Advisors Conference, you will learn that I became an advisor out of necessity, not purpose. You will also begin to understand that the level of fulfillment as a financial planner increased tremendously once I realized my work was not just a job but a calling. My role was to educate people in financial wisdom, which in reality, is a means of fulfilling the Great Commission by teaching them.

Once I realized my unique position where I was able to use my competency as a Certified Financial Planner® and incorporate the wisdom gained as a Certified Kingdom Advisor®, my career became my calling. I was finally in the sweet spot and was able to build deeper relationships with clients than ever before.

In my current role, I connect with many advisors across Canada who are very much like I was, enjoying their career and client relationships, yet sensing there is another level of fulfillment that can be reached. My experience is that you can flourish in your work when you realize God has called you to do that work. When you apply wisdom that is timeless (James 3:17) to the advice you share, the results are heavenly and you can enjoy the ride!

Truth for the Troubled

Truth for the Troubled

When I went to school, I naively thought the idea was simply to memorize many facts for exam time. Little did I realize that an isolated fact is like a stray piece of a puzzle. It’s an object, an article, a fragment of information, a bit of trivia. Truth, on the other hand, is all about meaning. To put it another way, discerning truth is a matter of interpreting the facts.

Facts are obviously an important part of education and learning, but may lack meaning. Truth is more about the application of those facts. Our goal as parents is to have our children love learning and discover truth that will help them navigate life with purpose.

The fact is this: truth has been more impactful in my life than the facts I learned in school. Truth has guided me in a way that facts never could.

Photo by Terry Grimes (Divine Design)

As a professional, I desire the people I work with to discover principles that can guide them in their careers. In most fields of work today, “continuing education” is required because we are not designed to stop learning. Facts can change but truth is constant and becomes the foundation for our lives.

Life can be very difficult at times when we examine the fact of a particular situation that is facing us. We need truth to guide us through these times. I was reminded this past week about how challenging it can be for a person to find direction in life; it can truly be a struggle. Here is some wisdom and advice that has helped me:

  • Let your eyes look forward; fix your gaze straight ahead. Carefully consider the path for your feet, and all your ways will be established. (Advice from Proverbs 4:25-25 HCSB)
  • God is capable of “making my footsteps firm” (Psalms 40:2) giving us a sense of security for the way forward.
  • God is able to establish us (Psm. 37:23) and keep our feet from slipping (Psm. 66:9).
  • When we find ourselves in a dark place, in the midst of despair, God can rescue us if we cry for help (Psm. 30: 2,3).
  • Sometimes God doesn’t seem to hear us or speak to us and we “become like those who go down to the pit” (Psm. 28:1 NASB). We need communication with God or we can shift to a dark place (down to the pit). There is a sense of despair among this group because they see themselves “as good as dead and completely helpless” (Psm. 88:4 CEV). We are not actually without strength but are made to feel like we have no strength, then we begin to believe we have no strength.
  • We need to pray: “Answer me quickly … or I will become like those who go down” into that dark place (Psm. 143:7 NASB).
  • When it seems there is no one who can help us out of the pit (a dark place), we can still pray: “Don’t stay far off when I am in trouble with no one to help me” (Psm. 22:11 CEV).
  • Remember, “he will deliver the needy who cry out, the afflicted who have no one to help” (Psm. 72:12 NIV).

When we isolate and focus only on the burdensome facts surrounding a situation in life it can lead us to a place of despair. The truth is we have a God who cares even when there seems to be nothing but darkness. The truth of God’s Word gives hope that light can shine in the midst of any darkness and deliver even when no one else can!

Have you ever or are you now in a dark place? Have you ever felt disconnected from God, like He is not hearing your prayers and you are not hearing his voice?

The Oldest I’ve Ever Been

The Oldest I’ve Ever Been

We are not getting any younger and I feel that especially today since it is my birthday. Have you ever felt that your best years are behind you rather than ahead of you?

New Years Eve four years ago, was especially memorable since I was turning the big 5-0. I was feeling exactly that way, like my youth was in the rear view mirror and I was never able to accomplish what I desired when I was younger. That very year, I attended a session at the Kingdom Advisors Conference that really spoke to me about the way I was feeling.

The speaker, Lloyd Reeb, from HalfTime Institute, helped me realize that my best years were actually ahead of me. Why? He explained the years where you have the most influence, know the most people, have gained the most wisdom and can have the greatest impact are when you are between age 50 – 80.

Fast forward and I now see that this is true. I have met some amazing and influential people since that time (not to diminish in any way those I knew before). A person’s impact in life continues to build so I am believing for an even greater impact in the year ahead.

Thanks to all who sent me greetings on my birthday but I have a wish for you. May the years ahead be much more impactful the the years you have already lived!! Happy New Year!