After 6 years, Tiger Woods recently made a major change.  Before you start with the infidelity jokes, I’m talking about major changes in his career – professional golf.    Tiger got to the top of his golf game with a little help from his coach.  However after six years of coaching, Tiger called it quits.

Why is Tiger Woods parting ways with his golf coach?  The reality is Tiger needed to make a move.  When something isn’t working, it is really frustrating – for everyone involved!

I talk with hundreds of people each month via the telephone, email, and in person. Money always seems to be a hot topic!  With the stock market back on a roller coaster course – people are more dazed and confused!  Many coaches, financial advisors, and stock brokers are asset gatherers not asset managers.  They have a vested interest to keep you invested in the markets even when it may not be the best choice for you.   Is your coach part of your team or do they have a hidden agenda?  Why not find an advisor who help bring light to your situation?

It may be time for you to change coaches too

Just like Tiger, it may be time for you to change coaches. The sharp ups and downs recently in the markets are a shocking reminder of what we saw in 2008 and 2009.  Don’t go back down that path! If you have found that you are not where you need to be financially or not getting the help you desire, it may be time for a coaching change! Take control of your future today.  Email me at jay@jayperoni.com for a FREE 30 minute evaluation of your financial situation!

With over 15 years of experience, I can look at your:

• Investment strategies
• Retirement plans
• Business ideas and ways to grow business
• Estate and legacy plans
• Tax efficiency (or lack thereof)
• Savings and spending
• Debt management
• And how all these tie together with your faith and values

Captain Chesley “Sully” Sullenberger avoided catastrophe by safely landing a US Airways plane on the Hudson River.  On January 15, 2009, Sullenberger was the pilot in command with an extensive flight and military experience, the kind of guy you want in the control pit with the slightest hint of danger.

According to reports:

“Shortly after taking off, Sullenberger reported to air traffic control that the plane had hit a large flock of birds, disabling both engines.  Several passengers saw the left engine on fire. Sullenberger discussed with air traffic control the possibilities of either returning to LaGuardia airport or attempting to land at the Teterboro Airport in New Jersey. However, Sullenberger quickly decided that neither was feasible, and determined that ditching in the Hudson River was the only option for everyone’s survival.  Sullenberger told the passengers to “brace for impact”, then piloted the plane to a smooth ditching in the river at about 3:31 P.M.”

The Miracle?

Every passenger survived!  To land the way Sullenberger did in such a small space with no casualties was beyond a miracle.  With God’s protection and Sullenberger’s expert skills, this flight is remembered for what was saved not what was lost…

There are some things best left to a professional

I can think of a short list of professionals I would want by my side in a jam:

• Doctor for my health issues/problems
• Attorney for my legal issues/problems
• CPA for my tax issues/problems
• CFP for my financial issues/problems

People often refer to the professionals when it comes to legal and health issues, but when finances enter the picture, all too often people tackle their 401ks, IRAs, and investments alone without consulting a professional.  I’d like to say these do-it-themselves-ers often land safely, but unfortunately miracles are few and far between…

This  only confirms to me that sometimes having a professional makes all the difference in the world!

Did you know that according to His Word, there are ways God will not use money in your life?

1) God will not use money in your life to cause fear and anxiety in your life.

Jesus tells you in Luke 12:22, “…do not worry about your life, what you’ll eat; or about your body, what you’ll wear.  Life is more than food, and the body more than clothes….”

Proverbs 10:22–“It’s the blessing of the Lord that brings wealth and He adds no trouble to it.”

If you have worry, fear, or anxiety about any part of your life, God is missing from that part of your life.  If the material things in your life (including money) cause you anxiety, you have either a) denied His wisdom or b) moved out of His will. 

2) God does not use money to divide spouses, family, or friends.

Money is still the number cause of fighting in marriages, families, friendships, and business.  Too many divide over financial issues.  Our world has seen far too many churches, ministries, families, friendships, and marriages sour over financial issues.

3) God does not use money to insulate you from problems.

If you believe God uses money to protect you then you are setting yourself up for disappointment and a challenge to your faith.

God instead use problems (especially finances) to mold and strengthen your character.  He is testing you, stretching you, and trying to bring you closer to Him.

4) God does not use money to raise your standard of living or to look down upon others.

Far too many people who become wealthy become arrogant, self-centered, and look down upon those who have less (even Christians).  Paul warned about this in 1Timothy 6:17 – “Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment.”

Why do we insist on doing the same old things over and over again expecting different results? What hasn’t worked time and time again, we expect will mysteriously work itself out.  We keep trying in attempts that a magic solution will suddenly appear.  Yet, trying to drive a square peg into a round hole is a losing proposition!  So are we going to continue down a path that is not working or seek a solution for improvement?  Maybe the path is already working, but needs some adjustments?  Are you comfortable? I have often found “being comfortable” may be a sign that you are not in the right place.

How many times have you or someone you know hung on to a job or a relationship or been in a situation where you knew it wasn’t going to work out yet stuck it out because it felt safe?   We are such creatures of habit and change feels awkward. It is uncomfortable.  We often do this with our finances as well.   We keep chugging along, doing the same old things time and time again, and expect that “someday” it will all work out.

No Blueprint?

If a builder were to tackle a new home construction project without a blueprint what would the final product look like?   If he just went to the local Lowes, bought supplies each week with no preparation, and then haphazardly assembled what he bought, how insane would that be?

No keeping track of his purchases…

No end goal in mind…

No master plan….

He is doing just enough activity to look busy, yet has no direction!  We would call him a fool!  However, this is the exact way most people handle their finances.  They have financial junk drawers – you know what I’m talking about – an investment account over here, this insurance over there, this retirement plan right here – each one doing their one separate thing. A financial mess!   No harmony. No reason.  No plan.   How can we expect to succeed financially without a calculated action plan?  Without knowing where you are heading? Or where you want to finish?  Without knowing if you’re on track?  Or what you need to do to get back on track?

Jay’s Challenge: I challenge you to take charge, get organized, know what you want, and go after it!

“The wise man looks ahead.  The fool attempts to fool himself and won’t face the facts.” – Proverbs 14:8

“Therefore if anyone is in Christ, there is a new creation; old things have passed away, and look, new things have come” – II Corinthians 5:17

“Without continual growth and progress, such words as improvement, achievement, and success have no meaning.” – Benjamin Franklin

We are either growing or dying spiritually.  There is no status quo!  God calls us to a life of commitment to Him.  Our finances reveal our commitments in life.  Where we spend, invest, and give our money reveals our priorities in life.   As we grow in our faith, we should long to have our finances line up with God’s word.  This means that we need to make a commitment to Him to make changes in our lives.  Over the next year we will look at various ways to combine our faith and finances.  Your journey begins today. 

Make a commitment to God that you will seek to learn His ways.

Psalm 37:4-6 sums it up:

 Delight yourself in the LORD and he will give you the desires of your heart. Commit your way to the LORD; trust in him and he will do this:     He will make your righteousness shine like the dawn, the justice of your cause like the noonday sun.

Judy came to see me frustrated and upset. She was tired of the long hours, unfulfilling work, and lack of passion for what she did.  As a telephone worker for nearly thirty years she had enough.  She couldn’t take it anymore.  When the company offered her a voluntary early retirement package, she thought it was an answer to prayer.  However her lifestyle of living beyond her means had overtaken any chance of accepting this package.

In order to prepare her for a future package and as a requirement to become a client of mine, I made Judy sign a commitment that she would change her habits and open her mind to learn new strategies to improve her financial situation.  She needed to make changes and commitments in order to have any chance of ever retiring.  The commitment was her first step in the right direction.

The definition of insanity is doing the same thing over and over and expecting different results.  If you do not commit to change, you will not learn and get past your mistakes.  Turn to God today and ask for the strength and discipline to seek change.  Make a commitment today and stick with the plan.

In what areas is change needed?

What are your biggest financial obstacles today?

What are some steps you can take to change your situation?

Recently I saw the move The Blind Side starring Sandra Bullock.  If you haven’t seen it, I highly recommend it.  “The Blind Side” depicts the story of Michael Oher, a homeless African-American youngster from a broken home, taken in by the Touhys, a well-to-do white family who help him fulfill his potential. At the same time, Oher’s presence in the Touhys’ lives leads them to some insightful self-discoveries of their own. Living in his new environment, the teen faces a completely different set of challenges to overcome. As a football player and student, Oher works hard and, with the help of his coaches and adopted family, becomes an All-American offensive left tackle.

The name of the movie derives from the objective of an offensive tackle: protect the blindside of the quarterback!  As defensive linemen pour in and try to attack the quarterback, the tackle’s job is hold-off the linemen until the quarterback can complete his play.   The movie got me thinking about blind sides in life.  Who is protecting your blind sides?   Do you have a financial accountability partner?

One of the biggest reasons men fail morally, ethically, sexually, and financially is due to a lack of accountability. Of all the people that failed in the bible, the majority failed because of the lack of accountability.  The main reason pastors fall from grace is a lack of accountability.  Same goes for many CEOs who have fallen.

It’s also true with successful money management.  Without accountability, it is difficult to handle the ways of this world.  We need to be accountable to God first and having an accountability partner here on earth is critical. And no, it cannot be your spouse.  It is essential to have someone wise, biblically sound, and trustworthy.   So what are you doing to prevent the same types of moral, financial and ethical collapses?  Do you have a strong partner?  Do you have someone protecting your blind sides?

The Kamikaze were the original suicide bombers.  During World War II, Kamikaze pilots would attempt to intentionally crash their aircrafts into Allied ships.  These aircrafts became human missiles laden with explosives.  Sole mission:  take out as many ships and people as possible.

When it comes to finances, many of us too, are Kamikazes.  We create havoc on our financial lives with poor choices, self defeating activities, and a lack of preparation and planning.  For many, it’s intentional.  Like the Kamikaze pilot, they wither away any chance of success and “take one for the team”.  After all, they say, we become more faithful by being poor.

Many mix up and subscribe to a “poverty gospel” taking a vow (consciously or unconsciously) to remain poor.  I have seen firsthand, people deliberately sabotage their success because they didn’t want to possess more money.     I see the nobleness of trying to give everything to God, but He calls us to take care of our families and to bless others.  This is difficult to do when you need help yourself.

How do people deliberately sabotage their finances?

1. They ignore their credit score. This affects the interest rate on everything from credit cards to personal, auto and mortgage loans and insurance premiums.
2. They pile up debt. They keep charging away with no ability to pay.   Debt is like a habanero pepper – good in small doses (for me at least), but too much is unbearable!   Excessive debt often leads to poor health, failed relationship including marriage, and strain relationships, and can ruin personal goals.
3. They are unorganized. They ignore bank and credit card statements while late fees, fees for insufficient funds, and over the limit charges pile up.
4. They have no savings. You might be living all right paycheck to paycheck, but one cash crisis can cause financial chaos. Emergency funds are a necessity.
5. They have no budget or spending plan. Spending your paycheck with a “money in/money out” philosophy will leave you financially rudderless. Take charge of your destiny.

Create new habits:

1. Fix the errors on your credit report to improve your credit score.
2. Figure out how much debt you can handle and eliminate your debt overload.
3. Don’t pay excessive bank and credit card fees.  Keep your accounts in check.
4. Commit to building an emergency fund.
5. Find the best place to save money and maximize your earnings.
6. Commit to working with a financial professional or accountability partner
7. Come up with a system to easily organize and monitor your finances.

Yogi Berra, once said:

If you don’t know where you are going, you are certain to end up somewhere else”. In a planning sense if you don’t know where you are going, how will you know when you get there?  To have no goals and no points of measure to track progress or lack thereof, you are setting yourself up to fail.   God, Himself, designed for us to have goals that coincide with His Word: “Commit to the Lord whatever you do, and your plans will succeed.

(Proverbs 16:3 NIV)

God gives us the authority and responsibility of setting goals and offers to provide direction to those who are willing to listen. Few, however, set goals.  Those that do are often much more successful than those who do not.  It is not only important to set goals but to review them daily and track progress or make adjustments regularly.  Flying by the seat of your pants, rarely works out well.  Sitting still does not either.

It doesn’t matter if you’re on the right track; if you’re sitting still you get run over

- Will Rogers

A lack of clearly defined goals is not only foolish, it is irresponsible.   Do you remember Alice in Wonderland?  Do you remember when Alice was talking to the Cat?  Here is the conversation,

” Cheshire Puss,….Would you tell me please, which way I ought to go from here?”  “That depends on where you want to get to”, said the Cat.  “I don’t much care where”, said Alice.  “Then it doesn’t matter which way you go”, said the Cat. “So long as I get SOMEWHERE” Alice added as an explanation. “Oh, you’re sure to do that”, said the Cat, “if you only walk long enough”.

- Alice in Wonderland by Lewis Carroll

Each Action has a Reaction

You cannot correct all financial problems overnight. A good plan will allow you to achieve short term and long term goals you once believed to be impossible.  But you have work at them.  There are no get-rich quick strategies that will get you where you are today to where you strive to be in the future.  However each step you take in the right direction will be a step closer toward achieving your goals and achieving God’s will.

A funny question: “How do you eat an elephant?” Of which an acceptable response is “One bite at a time”.  If you tried to swallow it whole, it would be impossible, but when cut into pieces is more probable.   As with a financial goal, by breaking it down, looking at the problems, identifying possible solutions, then implementing a solid strategy, and monitoring the plan, you will be able to gage your progress and make adjustments along the way.

One of the best analogies I give regarding a financial plan is to illustrate a navigation system for a car.  If you ever have seen how these work.  It is quite simple.  You plug in where you want to go – the city, state, street name, and street number.  It then can calculate the best possible way to get there: avoid highways if you wish, avoid toll roads, take the fastest way, take the shortest mileage route, just to name a few of the options.   Once you are on the road, a guided voice will tell you to take a left or right when needed and which roads to travel.  One of the best features you will see is when you take a wrong turn.  The system will recalculate the route, adjust, then provide new directions as to where you should go.

Just like with your financial plan.  You may be on track today, but then tomorrow something changes: you lose a job, you retire, someone unexpected gets sick, you inherit money, whatever the change, you need to gage where you are at that moment financially, look at the adjustments needed, find new or evaluate all of the existing strategies and possibly implement a new course of action.  Financial planning is not a one stop, set it and forget it process.  It is a process that evolves over time as your life changes.

The tortoise wins the race!

Sometimes we want things to progress faster than possible.  Having a solid plan and reaching your goals takes time.  Slow and steady is the name of the game.  Consistency is a key concept.  Just like the tortoise who wins with the steady approach, you too need to develop habits, change your mindset, and take the necessary steps to achieve your goals.

Having a co-pilot along the way to nudge you when you are feeling down is always a breath of fresh air.  Anyone considering retirement should form a team:

1. God
2. Spouse
3. Certified Financial Planner (CFP)
4. Attorney
5. Certified Public Accountant (CPA)

Positions 3, 4, and 5 are interchangeable and of equal importance as it relates to value.  I do not recommend doing these on your own and I highly recommend finding professionals who share your values and faith.  To find such a professional check out www.kingdomadvisors.org and www.nacfc.com.  If you have mechanic skills go work on your car, but don’t experiment on your financial future.

Why are people so quick to blame others or circumstances for their problems? Often I see people who are quick to point the finger and it rarely points back at them. Choices are made each day, and these choices have consequences. When the results come in less than favorable, somehow it is easier to push the blame toward someone or something else. This is especially true with finances.

One example: Most Americans used to be able to rely on three income sources for retirement: the company pension, Social Security, and personal savings. As the futures of company pensions and Social Security hang in the balance, the pressure builds for you to save on your own for retirement. If you do not have enough income when you retire, whom will you blame: your employer, the government, or will you accept responsibility?

The natural inclination of many people is to pass the blame. You know you are not accepting personal responsibility if you blame other people for your financial problems. I see many people pass the blame whenever they are faced with difficulties. It wasn’t the credit card company’s fault you maxed the card out. It wasn’t the bank’s fault you defaulted on your mortgage. It wasn’t your employer’s fault you didn’t save enough for retirement. These life situations, hardships, character flaws, or whatever else you want to call them begin with you. Rather than agreeing that the common denominator in all your problems is you, will you continue to blame others?

Do any of the following excuses sound familiar?

• I was late because of traffic.
• I have been so busy that I haven’t been eating right or exercising so that is why I put on a few pounds.
• My company isn’t paying me enough, so I cannot save for retirement.

By taking responsibility, you admit your part in creating the problem. You could have been on time if you left earlier. You could have maintained or lost weight if you re-prioritized your schedule. You could have saved for retirement if you cut back on spending. There is always a cause-and-effect relationship.

When you consistently point fingers at others, you look at yourself as a victim. Have you ever seen a rich victim? They are not very common. I have seen many poor victims. These are people who are poor and blame others. They blame their lack of financial success on circumstances and people around them.

Many people get into financial trouble because of greed, laziness, or lack of commitment. Quit blaming others. Admit you are the problem. You can always work toward improving your own bad habits, but it is very difficult to change the circumstances and the things around you. So if you concentrate on yourself and what you could do differently, you can begin to create new opportunities. Blaming the world limits your choices. You can either take responsibility or continue playing the blame game.

Admit you’re the problem and move on

Harboring negative emotions and anger about your financial situation diminishes financial progress. Your financial problems can begin to eat away at you little by little. Financial stress can become overwhelming and lead to withdrawal, depression, and other dangerous behaviors.

In order to make financial progress, you also need to have an open mind and look to others for guidance. Begin to identify areas in your financial life that you would like to change and commit to finding solutions.

Take smart, calculated risks, and realize that you are responsible for the outcomes. Begin to recognize any areas in which you need financial advice and seek a professional who is able to help you begin to identify solutions you never considered. You can make progress, but you first have to claim responsibility for your actions. People make a lot of excuses for their lack of financial success. I thought I had heard every excuse in the book as to why people fail financially. Stop making excuse, take responsibility, and put a plan in place to take action!

The way you manage your money has a great deal to do with:

1. Your personal happiness.

It is often said that money does not buy happiness.  However, very rarely will you ever see someone who is in poverty and happy.  Most of us fall somewhere in between.   If you feel you are being a good steward of the resources God has provided you, your level of happiness will increase.  It is more important to analyze how you give, how you spend, how you save, and how you invest your money.   The level of happiness or lack thereof is probably directly linked to how you are managing your money.

2. Your stress level.

Poor money management and poor financial decisions lead to higher stress levels.  Having more money does not reduce your stress levels if you have not taken care of the root problems.   Why do dentists perform root canals?

You could say that the purpose of root canal treatment is to create an end result where the tissues that surround a tooth’s root will maintain a healthy status despite the fact that the tooth’s nerve has undergone degenerative changes.   By fixing the roots of our financial problems, we will eventually conquer and develop solutions to reduce our stress levels

3. The quality of your family life.

As stress levels increase and happiness decreases, Christians often turn to substances or addictive behaviors, just like the secular world.  Sin is present in this world and takes very little searching to find.   Christians often turn to drugs, alcohol, pornography, and affairs to numb the pains.  This substantially affects the quality of family life and rips away a family like a hurricane.  The winds move rapidly and before long what started out innocent turns into full fledge withdrawal, addiction, and in some case suicidal thoughts or actions.

4. The stability of your marriage.

Studies have shown that money is the number one cause of divorce in both Christian and secular relationships.  Money can tear a couple apart.  Aside from the previous mentioned problems, the way each partner handles money can create substantial friction in the marriage.  If one person is a saver and the other is a spender and each spouse is not on the same page, serious issues arise.  It is when things seem like no hope is there and trust has been betrayed that reconciliation seems unimaginable; many turn away from Christ instead of to Him.  It is in these darkest hours that He is waiting for us with arms wide open.   However, our human nature leads us toward divorce.   One thing Karen and I decided to not make divorce an option.  By making this commitment to one another, we know that no matter how bad things get, we have to work together to solve the problems.  We may lose everything in this world, but we still Have God, His love for us, our love for one another, and a hope that there will be a better day tom morrow.  It is when you lose hope, that all else fails.

5. And success in your career.

It is often said, “Find something you love to do and find a way to get paid to do it”.  Well that is great career advice when seeking a profession or starting a business.  Poor money management issues arise can affect your career.  Choices you make, affect your long-term prospects.  If you are suffering financially because of poor money management skills, you become more susceptible to compromise your values, morals, and ethical behaviors.  Did you make a sale only to meet your needs?  Did you purposely withhold information so that you could make an extra dollar?

Rich or Poor: Balance is Critical

Whether you are rich, poor, or somewhere in between, if you do not have a balance between God, happiness, stress management, family life, marriage, and your career, something will suffer.  Even a great juggler will drop a ball once too many balls get thrown in the mix.  Some people can handle the additional pressures but eventually you will reach the breaking point.  Successful money management skills are not a guarantee but are a main ingredient in your purpose here on earth.

How you relate to money truly does affect how you relate to God, your family, your spouse, and those who share space with you on earth.  Things may be temporary here, but you will face eternal consequences (good or bad) for your actions here on earth.  Let us try to make things right here on earth by changing our focus from things of this world to a focus on advancing His Kingdom.  This Kingdom focus will help you put things in perspective, reset and reaffirm your priorities, and claim back your life if that is what is needed.