Category: Advice

Christian Financial Professionals Needed in Canada

Christian Financial Professionals Needed in Canada

I’ve been looking at some stats as part of a research project to determine the need for financial advice that aligns with the values and priorities of Christian consumers in Canada.

Financial Advisors in Canada

Firstly, what is the total number of financial advisors in Canada? According to an Advocis report released in 2012 there were just over 90,000 financial advisors.

https://www.advocis.ca/pdf/Financial-Advice-Industry-Economic-Profile.pdf

In 2020, the Mutual Fund Dealers Association (MFDA) released a client research report, which stated the total number of advisors had grown to 136,000 as of January 2019. (The Investment Industry Regulatory Organization of Canada (IIROC) is the pan‑Canadian self‑regulatory organization that oversees all investment dealers and trading activity on Canada’s debt and equity marketplaces). 

https://mfda.ca/wp-content/uploads/2020_ClientResearchReport-1.pdf

In a Sept. 29, 2022 press release, IIROC announced that MFDA & IIROC “have passed a special resolution approving the amalgamation of the two self-regulatory organizations (SROs). Effective January 1, 2023, subject to the conditions outlined in the Combination Agreement, the MFDA and IIROC will become one organization that will temporarily be known as the New Self-Regulatory Organization of Canada (New SRO).” This release stated that the approximate number of MFDA approved persons are 76,695 plus another 32,000 registered employees with IIROC. This means the New SRO will have 108,695 total advisors serving the Canadian public.

Financial Wealth in Canada

Next, it’s important to understand the level of wealth held by Canadian households. The MFDA Client Research Report also revealed that there are 16.2 Million Canadian households holding 4.4 Trillion in financial wealth.

Most households in Canada (79%) are mass-market households who own $100,000 or less in financial wealth (not exactly the target market for financial advisors). However, mass-market households only own 4% of the $4.4 trillion in financial wealth in Canada. Conversely, affluent households represent only 10% of all households in Canada but own 86% of the $4.4 trillion in financial wealth. Mid-market households represent 11% of all Canadian households and own 10% of total Canadian household financial wealth.

Wealth held by Christians

According to Pew Research published July 2019, 55% of the Canadian population consider themselves Christian. This would mean 2.42 Trillion of financial wealth is in the hands of Christians among 8.9 million households.

The research further shows that 33% of Canadians say that belief in God is essential to have good values. It is quite natural for clients to work with an advisor who shares their values. This would mean that over 5.3 million households in Canada would prefer to work with a Christian advisor; one having values based on a belief in God.

In the Investment Executive’s 2021 Dealers’ Report Card: The average advisor reported serving 206 households. This means that 26,500 advisors would be needed to serve the 5.3 million Christian households.

However, not all of these households are the ideal clients for advisors. The MFDA report showed that 79% of these households are mass-market, meaning they have less than 100k to invest and are therefore not the target market for advisors. The remaining 21% are mid-market (100K – 500k) or affluent (500k+), which is the target market for financial advisors (or 3.4 million households). This would mean that 1.87 million would identify as Christian (55%) and 1.12 million households (33%) would have values driven by their belief in God.

How many Christian advisors are needed to serve these 1.12 million households who say their values are driven by their belief in God? If we take the average advisor serving 200 households – a minimum of 5,600 Christian financial professionals are needed in Canada. To serve those who identify as Christian (55%), 9350 financial professionals are needed. (As a side note: it has been debated whether an advisor has the capacity to adequately serve 200 households effectively – the number is probably closer to 100 families, thus increasing the need for Christian advisors).

Certified Kingdom Advisors are Needed

The Christian market segment has specific financial planning and decision-making differentiators that are important in their selection of a financial advisor, based on their  religious/faith paradigms including: planning areas and common language, financial stewardship, debt, lifestyle, investing, charitable giving, estate planning and wealth transfer, generosity, and retirement planning.

One of my mentors, Ron Blue, who is also the Founder of Kingdom Advisors, believes that “everybody’s advice and counsel comes from a value system. What I learned as a CPA and a Christian is that good advice has its roots in wisdom that is thousands of years old. I am applying this wisdom to decision making regarding money.” He also says, “There is a big difference between a Christian who is a financial advisor and a ‘Christian financial advisor.’ A Christian financial advisor integrates their faith into their professional advice.”

The CKA® designation is designed to build on an advisor’s base of technical competency and experience as evidenced by an approved industry designation, or a minimum of 10 years full-time experience in a specific financial discipline. The earning of the designation is a pathway for a Christian who is an advisor to become a Christian financial advisor. There is a significant need for sound financial wisdom in Canadian households, which can come through trained Christian financial advisors.

Financial advisors can learn more here: https://kingdomadvisors.com/

Client Meetings & Unexpected Questions

Client Meetings & Unexpected Questions

Financial advisors all have access to the same or similar tools and products. While they have different backgrounds, they still have similar training. They attend many of the same conferences and are exposed to the same content from the financial industry. So then …

“How is a Christian advisor different from an advisor who is a Christian?”

It can be very difficult to answer that question or explain it in such a way that the advisor truly gets it, and to be honest, understanding the difference is a journey. As an advisor myself for 24 years, I did not fully comprehend this difference. As I reflect back on the early days of my career, I recognize now that I was “an advisor who was a Christian” rather than a “Christian advisor.” My advice was not that different than a non-Christian advisor because I was trained in the same way they were, but I was on a journey …

Kingdom Advisors offers a training program that is meant to go deep into the core of who an advisor is and even why an advisor does what he/she does. There’s good reason it is referred to as Core Training.

Since October, I have been walking with a group of advisors through this training which concluded this past week. One advisor shared a conversation that he had with his clients who are in their 80’s, which I believe illustrates how a Christian advisor is different.

This elderly couple have both had health challenges and called to have a discussion with their advisor because they have been working through an important decision. The decision they had reached and wanted to discuss was that they both wanted to move forward with medical assistance in dying (MAID). A discussion on this topic certainly was not something this advisor was expecting and felt, in some respects was beyond his area of expertise; yet something within him felt this was an opportunity for a deeper conversation.

In a very thoughtful way, he complimented them for always educating themselves about important decisions they’ve had to make since that was his experience with them. He then asked a question that was a little outside of his comfort zone: “Have you considered this from a spiritual aspect?”

This question led to a much deeper discussion, one that this advisor had never had with these clients in previous meetings. The end of this story is not written but these clients expressed such a deep appreciation for the thoughtful question that has led them to deeper soul-searching. Near the end of the meeting, the clients had a question for the advisor:

“Why have we never had a discussion like this before?”

That is definitely a valid question from this client. It’s a clear example of “an advisor who was a Christian” and successfully practiced for many years being transformed into a “Christian advisor.” His immediate thought was to send these clients to a spiritual leader, but because he had journeyed through the KA Core Training, he felt compelled and confident enough to ask a non-financial question that caused the clients to think more deeply.

One of the quotes from the Core Training Module that we ended with this week stated:

“Your practice can become indispensable to your client families.”

This incident has helped me realize what truly differentiates a Christian financial advisor from other advisors, and from those who may even be Christians. It’s not just a willingness to go deeper in client conversations but a deep sense of calling to go where other advisors fear to tread.

I am truly grateful there are so many Kingdom Advisors in Canada, where I get to serve, as well as in the USA and other parts of our world; advisors who care enough to build an indispensable practice for their client families. Where are you on the journey?

If you are a financial professional in Canada, I would encourage you to join one of the upcoming Kingdom Advisors Regional Events in May 2022.

We Are All Discipled By Someone

We Are All Discipled By Someone

Bruxy Cavey, a teacher at The Meeting House recently said, “We are all discipled by someone,” and it really made me consider the truth of that statement, especially as it relates to my work in the financial industry. The sources of media that we subject ourselves to play such a significant role in shaping who we are as individuals and professionals.

Almost 30 years ago, in the Spring of 1991, I entered the financial industry. By the mid 1990’s, it was clear to me that if I was to build a career in this industry, further education would be important and I began the journey toward my Certified Financial Planner® designation. Continuing Education (CE) is a requirement in many professions today, and rightfully so, because things are constantly changing.

In order to maintain my CFP® designation, I have to earn a minimum of 25 CE hours annually. In essence, this means that my profession, or my designation, compels me to keep my knowledge current. The CE hours obtained means I fulfill my annual education requirement but, more importantly, it also means that I am being discipled by someone!

The Kingdom Advisors 2021 Annual Conference offers 18 hours of CE to financial professionals

Thus far in 2021, the instruction in the following verse has been challenging me:

Set your minds on things above, not on earthly things.

Colossians 3:2 CSB

The instruction in the previous verse is to “Seek the things above,” yet, we are living on this earth and we must stay current with the industry of which we are a part. We all choose the “someone” who disciples us; the twelve disciples accepted Christ’s offer. Today, as Christ-followers, we must choose who will disciple us.

I am so grateful for Kingdom Advisors because it exposes me to the “Christian Financial Industry” where I can choose to earn my required industry CE in the context of my faith! This helps me “set my mind” based on the “wisdom that comes from above” rather than “earthly wisdom” (James 3:15-17). When it comes to financial planning, much of the wisdom shared by professionals is earthly, even if they happen to be Christian. Earthly wisdom is defined by James as “unspiritual, based on selfish ambition…including envy” (3:15-16). The dictionary defines envy as “a feeling of discontent or resentful longing aroused by someone else’s possessions.” Catering to selfish desires is one of the easiest traps to fall into.

What I am instructed to do as a follower of Christ is to seek the things above and set my mind there. That’s not an easy task and will not happen without intentionality. When I do this, the result is that my advice will be based on the wisdom that comes from above –

“pure, peace-loving, gentle, willing to yield to others, full of mercy and good deeds, showing no favouritism and always sincere.”

James 3:17 NLT

Are you a Christian Financial professional? If so, where are you finding your required industry CE? Does it include wisdom that comes from above? Do you realize that where you obtain your CE actually disciples you?

I will earn 18 hours of industry CE by attending the Kingdom Advisors Annual Conference on Feb. 17-19 and the greatest bonus of these hours is the “wisdom from above.”

Register now for the KA Annual Conference because that wisdom is priceless!

Please use CONF21CANADA discount code when you register for 10% off.

(Mis-)Understanding God’s Call

(Mis-)Understanding God’s Call

This summer I listened to a very moving and appropriately titled audio book called Fire Road. It is the story of Kim Phuc Phan Thi which is written as A Memoir of Hope. The book cover shows the Pulitzer Prize winning photograph taken on June 8, 1972 in South Vietnam. The nine-year-old child is running from low flying planes to escape the napalm bombs dropped that day.

Her story is one of physical pain from the burns and multiple surgeries over the years that followed. The book also describes how the government used her story as propaganda for their own benefit, in essence “putting their own words into her mouth” through interpreters. The “Napalm Girl,” as she became known, journeyed through the horrors of war which has given her a platform to share her journey of faith, forgiveness and peace. Her suffering and pain was intense and brought tears to my eyes as I listened. The impact of her life and faith will only be measured in light of eternity. I was struck by the thought of how God could take the horror of her experience and use it to bring redemption to so many.

She was born the year before I was and that day in June shaped her future in a way that she could not have imagined. I honestly have no idea what I was doing on June 8, 1972 but I believe God also allowed things to come my way that were not pleasant. We all face events that determine who we become and what we do in life.

I can recall when I was 15 years old standing in a church that my Mom and Dad pastored. I had an indescribable holy experience in God’s presence. I stared at my mother’s Bible and I could not escape the instructions of the Apostle Paul to Timothy: “Preach the word … do the work of an evangelist and fulfill your ministry.” That time was so impactful that when I was asked about my goal in life for my graduation yearbook, I said “to be an evangelist.”

It was obvious to me that I should study the Bible and enter full time ministry. Little did I know that after less than 4 years into “full-time ministry,” my life would take an unforeseen twist and I would enter the financial services industry. The Napalm Girl can look back at a specific day that changed her life, and I look back at this period of time because it was like a course correction that I could not fully understand. How could selling insurance and investment products help me “do the work of an evangelist?”

God must smile when we ask these sorts of questions. Fast forward 25 years when I am asked if I would consider leaving my financial planning practice to become “a pastor to financial professionals across Canada.” Now that’s something I did not see coming! In the past 5 years (since making this transition), I have met hundreds of Christian financial professionals who desire to better share biblical financial wisdom with their clients (because it works).

Here’s my point: as a 15-year-old sensing God’s call to “preach the word” and “do the work of an evangelist,” all I could visualize was Billy Graham, and possibly doing something like that. I think God was saying, “Maybe not.” It is so easy to misunderstand what God is calling us to do and accomplish in life because we have our own ideas of what life is supposed to look like.

What I know is this: God can use a napalm bomb for ultimate good. Or He can use a job loss that no one could have predicted to bring us to a destiny that we could never envision. His ways are simply beyond our ways. We can trust God even when things seem to be going opposite to our plans.

A very wise man offered this advice that I have paraphrased: With all that is in you, trust in the Lord. Do not rely on what you can understand. In all your ways know him, and he will show you which path to take.

It seems to me that trusting is more important than understanding. Where do you place your trust? Your own abilities? Or God’s ability to position you where you are supposed to be? Do you spend more time trying to understand or learning to trust?

… In Whom I Am Well Pleased

… In Whom I Am Well Pleased

When I woke up yesterday morning, on Father’s Day 2020, I reflected back on a message that I had shared a few years ago. I wrote a blog about it at that time and I really wanted to do a “Father’s Day Reversal” – I wanted to send a very special message to my kids instead of them just wishing me “Happy Father’s Day.”

How can we ever live up to the greatest example of fatherhood? As Dads, we need to express to our children that we are pleased with them. Here’s what I understand from the baptism of Jesus: the Father being pleased with the Son was not based upon what Jesus had accomplished in his life. Yes, Jesus was a great carpenter and was skilled in relationships but I believe that God was pleased simply because Jesus was on the earth. He existed as a man and was positioned to accomplish the Father’s will for His life.

Let’s face it, we tend to be pleased with our children when they accomplish something: they get good grades, they land a great job or get a promotion. That’s when we express our praise, when we have reason to be proud of them. It’s interesting the Father’s expression that He was pleased didn’t come when Jesus had healed the sick, fed the hungry, or turned the water into wine. It came before Jesus had accomplished any of these things.

Father's Day June 15, 97
Father’s Day 1997 No Accomplishment Required!

I have realized as a Dad that there are times when it is important to just tell our children that we are pleased with them simply because they are on the earth. When we base our “being pleased” on behaviour or accomplishments, we are placing conditions on the acceptance of our children.

Yesterday, I shared this with my kids: “I’m pleased with you, not based on what you have accomplished in life, but simply because you are on this earth.” What I realized is that this statement was very freeing for my children because they know they are accepted by me and do not have to earn that acceptance in any way. This is also a process for me as a Dad. I have had to let go of my expectations and what I desire for my children and simply rest in the fact that God is able to direct each of their lives in ways that I can never do. They are free to walk into their futures without sensing the need to gain my approval.

The fact is I don’t always agree with my kids; they have their own opinions that do not align with mine, but in spite of this, our relationship as a family is stronger than ever. I do not need to agree with my children to be happy or satisfied with them! My children are far from perfect, as am I, but thankfully, that’s not what is required to be a strong family. What is required is simply accepting our children … because they are our children.

My prayer today is that more Dads will not only tell their children that they are pleased with them but will also tell them why. Are you satisfied with your children? Have you told your son or daughter that you are pleased with them simply because they are your son or daughter? Isn’t that reason enough?

 

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.

040AA012-968C-4160-8133-80F29B0E61E6
blog.afraidto trade.com

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?

Screen Shot 2020-03-19 at 4.34.40 PM

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!