Just a gimmick?
This past week, I received a great question, “My advisor seems to think your approach to investing is a gimmick and he won’t implement any of the recommendations you have given us, what should I do?”
Many are skeptical of faith-based investing. I know I was when I first heard about it 15 years ago. In fact, I rejected its validity for about 8 years into my investing career. Then God start to convict me on where I was investing not only my money, but the money of my clients. I mean if these clients had strong morals and values and knew about the ability to invest in a morally conscious manner, didn’t I as an advisor have the responsibility to at least start the conversation?
Many advisors seem to be neglect one important fact: It’s your money and not your advisor’s money. Regardless of where your advisor sits on the faith side of investing, our approach at Faith-Based Investor makes perfect financial sense. Building a solid portfolio with quality companies, gold, silver, and other commodities is a great idea regardless of the faith-based screening we do. If your advisor isn’t willing to listen to your requests, I would start interviewing an advisor who is in line with your beliefs and willing to listen to you. A relationship should be a two way street and communication is critical. If your advisor won’t listen to you, that’s a red flag in my book…
What are your thoughts? Is faith-based investing just a gimmick?
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Follow the Money Radio Interview
Here is my interview on Follow the Money:
On this week’s program, gold and silver soar to new highs while the U.S. dollar falls to a 2 ½ year low. We’ll bring you an update. And this week, rising food and gas prices just will not give U.S. consumers a break… It’s all a part of our Weekly Market Report where we will recap the highlights of this week’s market action in stocks, bonds, commodities, energy, and precious metals. And precious metals advisor, Tom Cloud, will be here with his Precious Metals Market Update.
Then, in Segment Two, Jerry is joined in a special interview by Certified Financial Planner and Author, Jay Peroni. Jay is a friend of the show and a part of our Christian Financial Advisor Network. He will be here to discuss what he sees ahead for the U.S. stock market. Jerry and Jay will also discuss the topics of faith and money along with Jay’s book, The Faith-Based Millionaire.
LISTEN HERE
“Do well by doing good.”
Many people may made a commitment to show better stewardship in 2011. This may 
include your personal lifestyle in an effort to live and eat better or it may also include your finances. Many are trying to “go green”. Conserving what God created is always a good idea. How can you make a bigger impact with your investments to compliment your moral and social preferences?
You’ve probably heard the phrase, “do well by doing right.” In the financial arena, it is often written or spoken in reference to impact investing – also known as socially responsible investing. At Faith-Based Investor, we believe in social and moral responsible investing. See the difference.
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Start the New Year with the right mindset
Now that the new year is here, I have had quite a few requests to revisit our foundation for why we as faith-based investors, do what we do!
From The Faith-Based Millionaire, my first book:
Faith-Based millionaires typically hold four core beliefs in order to manage money wisely for God:
1. God Created Everything
This means you believe it all starts and ends with God just as stated in Genesis 1:1: “In the beginning God created the heavens and the earth” (niv). If you believe God created everything—from the earth and the other planets to plant and animal life to humans to, more specifically, you—then this should be the foundation of your faith. Who is in control of everything?
2. God Owns Everything
Psalm 24:1 tells us, “The earth is the Lord’s, and everything in it, the world, and all who live in it” (niv). Your faith is your greatest asset in this world. As your faith continues to grow, your reliance on God should increase as well. Believing God owns everything will motivate you to a whole new level. This also leads to an important question: To whom does your money really belong?
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2011 is your year!
Yes, you can make 2011 the year you alter your financial life for a better financial future. Let’s look at some steps you might think of taking with the goal of financial freedom in mind.
No, we’re not talking about those ridiculously obvious steps the usual articles recommend, like “write your goals down” and “set a budget”. Let’s go past the clichés and get into the real issues.
Look at your income source, your expenses and your debt.
How do you earn income? If you earn it from one source, is there effectively a ceiling on it, or is there real potential for your income to rise in the next few years? Now look at your core living expenses, the ones you can’t avoid (such as a mortgage payment, car payment, etc.). Can any core expenses be reduced? Investing aside, you position yourself to gain ground financially when income rises, debt diminishes and expenses stay (relatively) the same.
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The Finish Line
As we approach the end of the year, the 2010 finish line, investors are reevaluating their portfolios for the New Year. After experiencing three boom and bust periods over the past ten years:
1. Technology bubble…
2. Real estate meltdown…
3. Credit collapse…
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Mistakes are costly yet avoidable
Over the past fifteen years, I have seen every mistake in the book when it comes to investing. These mistakes are costly! Making one or several of these mistakes could cost you thousands or even millions of dollars over your lifetime. The sad truth is most of these errors are avoidable. Take a look:
1. Chasing hot returns: Many investors look at what’s been going up, up, up and they want to get in on the action. The big problem is they are often “too late to the party”. The invitations were sent months or years ago and now the investor arrives only to become disappointed because the party moved to a different type of investment. As we all know the object is to “buy low and sell high”, but chasing what’s hot often ends up in buying high and selling low.
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