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Series Code: IIWC
Program Code: IIWC202427S
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00:05 [theme music]
00:08 ♪♪ 00:43 [uplifting music] 00:46 ♪♪ 00:52 >> Welcome to 00:53 It Is Written Canada. 00:54 Thank you for joining us. 00:56 Did you know that the Bible has 00:58 a lot to say about money? 01:00 In fact, there are 01:01 over 2,350 verses 01:04 that talk about money. 01:06 That's twice as many as 01:08 the number of verses 01:09 that speak about 01:10 faith and prayer combined. 01:12 Fifteen percent of 01:14 everything Jesus said was on 01:15 the topic of money. 01:17 For example, out of 01:18 the 38 parables Jesus told, 01:20 16 deal with money, 01:22 and one out of 01:24 seven verses in the 01:25 first three gospels 01:27 speaks about money. 01:28 In fact, Jesus spoke 01:31 more about money and possessions 01:33 than He did about 01:35 heaven and hell combined. 01:37 >> Today on 01:39 It Is Written Canada, 01:40 our special case is 01:42 Sven Tornlov, 01:43 who is going to share with us 01:45 his wisdom 01:46 on saving for the future 01:48 or investing, 01:50 and how the Bible gives us 01:52 direction when it comes to 01:53 investing. 01:55 When it comes to finances, 01:57 Sven is a person 01:59 we really trust. 02:02 Sven is the Associate Treasurer 02:04 and Planned Giving Director of 02:06 the Seventh-day Adventist Church 02:08 in the British Columbia and 02:10 Yukon Conference. 02:12 He has a bachelor's degree 02:14 in business administration 02:16 from Walla Walla University. 02:19 >> Sven, welcome to 02:21 It Is Written Canada. 02:22 Thanks for joining us again. 02:23 >> Thank you very much 02:24 for having me. 02:25 It's my pleasure to be here. 02:26 >> Sven, when we speak about 02:28 saving for the future, 02:29 we're talking about investing, 02:31 right? 02:32 And what does the Bible say 02:34 about investing? 02:37 >> I'm glad you asked 02:38 that question, because 02:39 one of my favourite verses 02:40 in the Bible, 02:42 in Ecclesiastes... 02:46 ...10, verses 19. 02:47 And maybe we'll unpack this. 03:01 Can this be right? 03:02 >> Well, it's right in the sense 03:05 of material things. 03:06 So money is our 03:08 currency of exchange, 03:09 it's the way of trading. 03:11 And so yeah, it can answer 03:13 everything in terms of 03:14 material things. 03:15 But in terms of our, 03:18 you know, our 03:19 spiritual wealth, 03:21 our spiritual, you know, 03:24 answers, questions. 03:26 Money's not the answer 03:27 to everything. 03:28 Obviously not. 03:29 >> Okay. 03:30 So I agree a for sure. 03:31 >> Yeah, so when we're talking 03:33 here about investing 03:34 for the future financially, 03:36 can you give us some basic... 03:38 ...tips to keep in mind 03:40 when we're thinking of investing 03:41 for the future? 03:42 Before we do that, 03:43 what would you say 03:45 that we should keep in mind? 03:46 >> You know, so many people 03:47 when they talk about investing 03:49 for the future and investments 03:51 and a portfolio, 03:53 I mean, we see dollar signs, 03:55 right? 03:55 That's what we see, 03:56 and we get excited about, 03:58 you know, if I put away 03:59 this much per year, 04:00 this much per month, 04:01 when I'm 65, when I'm 70, 04:03 I'm gonna have this much. 04:05 And sometimes in the equation 04:08 to get from what we put in 04:09 every month to what we're 04:11 gonna have to when we're 65 04:13 is we adjust the 04:15 interest rate factor. 04:17 And so we are, 04:19 you know, if 5% doesn't get us 04:22 to the number we need, 04:23 we throw in 6% or 7%, 04:26 8%, you know, 04:27 to get that big number 04:29 when we're going to retire. 04:30 And I think that we 04:33 could be deceiving ourselves 04:35 because where we should be doing 04:37 an evaluation for risk. 04:39 You know, how much risk 04:40 am I really willing to 04:43 put my money in... 04:46 ...when I'm looking for 04:47 my future? 04:48 Because when I retired, 04:49 I am no longer 04:50 in my working years. 04:52 So I have to be wise about 04:54 my investment. 04:55 So I feel that if we do 04:56 a risk assessment, 04:58 as opposed to looking at 04:59 how much interest my investment 05:01 is going to earn, we're gonna be 05:03 in a much better position 05:05 when we are ready to retire. 05:06 >> So different people are 05:08 prepared to take different kinds 05:09 of risks when it comes to 05:12 investing. 05:13 >> Yes, different types of risk. 05:14 And also depending on 05:15 where you are at. 05:17 You know, if you're between the 05:18 ages of 20, 30, 05:20 30 and 40, 05:21 there's a much longer period 05:23 before you're 65. 05:25 But you know, when you're 55 05:27 or 60, you need to be 05:29 reducing that risk 05:30 within your portfolio. 05:32 So I think it really depends 05:34 where you are at, 05:35 how old you are, 05:36 where you're at in your 05:37 working years 05:38 as to, you know, 05:39 your level of risk. 05:42 >> Sven, sometimes we get 05:44 so worried about saving and 05:46 we just wanna keep everything 05:47 and hoard everything. 05:49 Can you tell us a little bit 05:51 about hoarding? 05:53 >> You know, I think we just 05:54 have to drive through 05:55 a subdivision and we don't even 05:57 have to look in people's homes, 05:58 but for some reason, 05:59 we all have garages, 06:01 but none of us park in them. 06:03 Why is that? 06:05 Is it because they're so 06:06 full of stuff? 06:09 So are we all hoarding 06:11 to a certain extent? 06:13 You know, maybe. 06:14 And I think it transitions 06:15 our trust in God, 06:16 our faith in God 06:17 into ourselves and into 06:18 our own merit and 06:21 what we have and we might 06:23 be looking at our neighbour 06:24 and saying, we have 06:25 more than our neighbour. 06:26 You know, with all of these 06:28 material things, 06:30 and where that really 06:32 shouldn't be our goal and that 06:33 shouldn't be where our 06:36 level of satisfaction and 06:37 self-actualization comes from. 06:39 >> So we're not talking about 06:40 hoarding in the sense that 06:42 that's going to protect us 06:44 from the future, 06:45 to have more things. 06:49 >> There are different stories 06:50 and verses in the Bible that 06:52 talk about budgeting and giving. 06:54 You know, we read about 06:56 the woman that gave two mites 06:58 and everyone was looking at her 07:00 and thinking, Wow, like, 07:01 that's really little. 07:02 But in her heart, and Jesus knew 07:05 as well, like, that was all 07:06 that she had. 07:07 So when it comes to budgeting, 07:08 too, you know, we can't look at 07:09 others and see how much 07:11 they're giving or how much 07:12 they're saving. 07:13 Everyone's situation 07:14 is different. 07:15 And we even see, too, in the 07:16 story of Joseph. 07:17 You know, he knew that there was 07:19 going to be seven good years 07:21 where they were going to 07:22 harvest a lot. 07:23 But he also knew that 07:24 there was going to be 07:25 seven years of famine as well. 07:27 You know, God blessed him 07:29 knowing that that was going to 07:30 come and he was able to save 07:32 for the people. 07:33 And in the end, you know, 07:34 like so many people became 07:36 better off because of that. 07:37 He saved so many lives through 07:39 listening to God's guidance 07:40 with that. 07:41 Yes, I don't think, you know, 07:43 oftentimes we're going to 07:44 know exactly what's going to 07:46 come, right, but 07:47 just be prepared for 07:48 things like that 07:49 that could happen. 07:50 Sometimes an extra 07:51 medical situation could arise 07:53 that you have to pay 07:54 something out of pocket, 07:55 or God forbid, you get into 07:57 a car accident. 07:58 You know, some of these things 07:59 you just can't control. 08:01 But by having a budget 08:02 and setting money aside, 08:05 instead of now being 08:06 completely stressed, not knowing 08:08 where to get these funds from, 08:09 you prepared for the future, 08:11 knowing that, okay, even though 08:13 this bad thing has happened 08:14 to me, and even though 08:15 I didn't see this coming, 08:17 through the help of God, 08:18 I've been able to put 08:19 something aside and now 08:21 it's not going to cause 08:23 too much harm to me or my family 08:24 or to my loved ones. 08:25 Those that are affected by 08:27 our finances. 08:29 >> So planning for the future, 08:31 I've also heard 08:32 financial planners talk about 08:33 emergency fund, 08:34 having an emergency fund. 08:36 What does an emergency fund 08:37 look like? 08:38 How much should it be? 08:39 And what's the purpose of it? 08:42 >> Good, so right in the name 08:43 it gives us a hint. 08:44 An emergency fund, okay? 08:45 So there's an emergency, 08:47 I need those funds now, 08:49 you know, not next month, 08:51 now. 08:52 So a good place 08:54 to have those moneys 08:56 is going to be in a 08:57 high-interest savings account 08:59 or maybe in a tax-free 09:00 savings account, but... 09:03 ...if it's in the TFSA, 09:05 not invested in a way where 09:07 it's locked in, 09:08 somewhere where you can 09:09 receive that out, you know, 09:10 within 24 hours. 09:12 And so when I think of 09:15 emergency fund, 09:16 I wanna look at risk. 09:17 How much risk do I have 09:19 on my income, 09:21 and how much risk do I have 09:22 on my expenses? 09:23 So looking at income... 09:26 ...have I been working for 09:27 the same company for 20 years? 09:29 Am I on salary? 09:31 Or have I just started a new job 09:33 or am I self-employed? 09:35 So if I'm self-employed, 09:38 I am gonna carry a lot more risk 09:40 on my income side. 09:41 It's not steady. 09:42 But if I work for the 09:43 same company for 20 years 09:45 and I'm on salary, 09:46 it's probably a lot more secure. 09:48 So if it's not as secure, 09:50 maybe that pushes me closer to 09:51 the six-month side. 09:53 If it's very secure, 09:54 maybe closer to the 09:55 three-month side, if it's 09:56 being static. 09:57 Looking at my expense side, 09:59 if I rent, okay, 10:02 I don't carry much liability. 10:04 And so─ because 10:05 if the fridge dies, 10:07 who pays for it? 10:09 >> The landlord. 10:10 >> The landlord, not me, right? 10:12 But conversely, if I own 10:14 if the fridge dies, 10:15 who pays for it? 10:16 >> You do. 10:17 >> I do, you see? 10:19 And so I carry much more 10:20 liability when I own. 10:21 And what happens if I have 10:22 a rental suite? 10:24 If I have a rental suite 10:25 all of a sudden now I have 10:26 two stoves, two fridges. 10:28 You know, I double my appliances 10:31 and I have obligation as a 10:33 landlord now to my tenant 10:35 to be able to replace things 10:38 very, very quickly. 10:39 And so that's gonna move me, 10:41 if I own, more to the 10:43 six-month side, and if I have a 10:44 rental suite or a carriage home, 10:46 maybe more even into the 10:47 nine-months where I'm gonna 10:49 have to have nine months 10:51 or six months or three months, 10:52 depending on where 10:53 your liability sits on your 10:54 income and expense side, 10:56 to have that sitting as cash 10:58 readily available 11:01 to pay for an emergency. 11:02 >> That's a lot of money. 11:04 So you're slowly building up 11:05 this emergency fund. 11:07 So we're not saying 11:08 it's a fixed amount of $1,000. 11:10 We're talking about 11:11 whatever you would make 11:13 in that six-month period, 11:14 you should have that 11:16 in savings ready 11:18 in case there's an emergency. 11:19 [SVEN] That's right, and, 11:20 you know, there are 11:21 a number of ways to get there. 11:22 And you're not gonna get there 11:23 this month, 11:25 you might not get there 11:26 this year, but over a 11:27 number of years 11:28 you will get there. 11:29 And you know, when you start out 11:30 in life, you're finished school 11:32 and you start out, 11:34 you're, maybe you're gonna 11:36 start renting, right? 11:38 So you now maybe you're just 11:39 having the three months 11:40 of expenses. 11:41 And then when you buy 11:43 your first home after you've 11:44 rented for 3 or 4 years... 11:45 So now you're only moving from 11:47 zero, having no emergency fund 11:49 to only having three months. 11:50 Now you're moving from 11:51 three months to six months. 11:52 So you're not making that 11:54 giant leap all at one time. 11:56 And, you know, a great catalyst 11:57 for starting your emergency fund 11:59 is your tax return. 12:01 If you get a tax return, 12:02 that can be the catalyst 12:03 to start your emergency fund. 12:05 [RENÉ] That's a great idea. 12:06 [MIKE] Very good idea. 12:08 >> Sven, you've just shared 12:09 with us about an emergency fund. 12:11 Can you tell us about a fund 12:14 for future needs? 12:16 >> Sure. 12:16 I mean, I define future needs 12:18 as as myself, as a 12:19 one-time purchase of $500 12:22 or more. 12:23 So examples of this would be 12:25 buying tires for my vehicle, 12:28 putting a new roof on my house. 12:31 And I know that if I need 12:34 a new set of tires 12:35 in three years, 12:36 let's just use easy math. 12:37 Let's say tires cost $900. 12:40 Divide that by three years, 12:41 it's going to be $300. 12:44 Divide that by 12 is gonna be 12:45 $25 a month. 12:47 Okay? 12:48 So now I need to set aside 12:49 $25 a month for my tires. 12:52 I know that in ten years, 12:53 I'm gonna need to put a new roof 12:55 on my house. 12:56 Let's say it's $12,000 12:57 for easy math, divided by ten, 12:59 so you get 1,200. 13:02 Divide that by 12 months, 13:03 that's gonna be $100. 13:05 So now just taking 13:06 those two things, I need to 13:07 set aside $125 every month. 13:10 And then in three years 13:12 I'll have my $900. 13:14 We're pretty good at managing, 13:15 you know, static income, 13:17 static expenses, everything is 13:18 pretty much the same. 13:19 We pretty much use the 13:20 same amount of gas every month. 13:22 Food costs the same pretty much 13:24 every month. 13:25 Your gas bill is 13:26 annualized... 13:28 ...all of these items. 13:29 But all of a sudden, you get hit 13:31 with new tires for your vehicle, 13:32 $900. 13:33 Well, you can only water down 13:35 the soup a few times, 13:36 and then you're not─ 13:37 then it doesn't get─ 13:38 it's not a joy to eat anymore. 13:39 And so that's what's hard 13:41 to manage. 13:42 So if you have this 13:43 emergency fund, 13:44 not the emergency fund, 13:45 your future needs fund, 13:47 you have the dollars 13:48 sitting there. 13:49 So you take the $900 out 13:51 and you buy your new tires. 13:52 And that way you 13:53 don't have to scrimp. 13:54 You can buy good tires, 13:55 you know, for your vehicle. 13:57 When you need a new roof 13:58 for your house, it's not 14:00 stressful. 14:01 It's not this big stress time. 14:04 How am I gonna pay for 14:05 my new roof? 14:07 You use plastic. 14:09 And then you try to pay it off 14:11 and if you don't pay it off, 14:12 you end up paying 14:13 interest for it. 14:15 >> When it comes to planning 14:16 for the future, there are 14:18 different items that 14:19 different people wanna save for. 14:21 It could be a car, it could be 14:23 a house, it could be wanting to 14:25 pay for a vacation, 14:26 it could be maybe 14:27 a really big birthday party 14:29 that you wanna throw for 14:30 your child when they turn 16, 14:32 or when they turn 18, right? 14:33 There's lots of expenses 14:35 that are out there. 14:36 It's really just dependent on 14:37 what you love to do, 14:39 what you love to spend on. 14:40 Some people really prioritize 14:42 date nights as a couple, 14:43 you know, and spending 14:45 a lot there. 14:46 But when it comes to saving, 14:48 you just have to 14:50 really think about your wants 14:52 versus your needs. 14:54 And I put such a strong emphasis 14:55 on this because it can be 14:56 very easy to merge the two 14:58 together and to tell ourself 15:00 that something is a need 15:02 when it really isn't. 15:03 So there's actually something 15:05 that has kind of blown up 15:06 on social media lately. 15:07 It's called girl math. 15:09 So with girl math 15:10 there's this thought that, 15:12 Okay, if I'm spending cash, 15:14 I'm technically not spending 15:15 money because it's not lowering 15:17 the number on my bank account. 15:19 Or if I bought something 15:20 and I returned it, 15:21 now I have this refunded money 15:23 so that's money I would have 15:24 spent anyways, so it doesn't 15:25 count if I spend it again. 15:27 So you just have to really 15:29 steer away from these ideas 15:30 about, Okay, I'm spending 15:33 something that's on sale, 15:34 I'm saving money. 15:35 No, that money is still 15:37 coming out, right? 15:38 So you just have to 15:39 ground yourself when it comes to 15:40 your spending and really 15:42 look into saving and 15:43 investing specifically. 15:44 Saving is great and investing 15:46 is great as well. 15:48 Save for the rainy day. 15:49 They say that, you know, 15:50 if an emergency comes up 15:52 or by any chance maybe you 15:54 lost your job, you should have 15:55 savings for around 3 to 6 months 15:57 that can cover your 15:58 living expenses if you were to 16:00 lose your job. 16:01 So keep that in mind as well 16:03 when you're doing a budget 16:04 to have money set aside 16:05 in the case that, God forbid, 16:07 you lose your job. 16:10 >> And most employers, 16:11 you can set it up, 16:12 that they will put 16:13 this money into a 16:15 separate account or into a TFSA, 16:17 right off of your paycheck. 16:19 So out of sight, out of mind. 16:21 And this just grows 16:22 because you've taken the time 16:24 to calculate and figure out 16:26 what are my future needs 16:28 going to be. 16:29 My family, we wanna go to 16:30 Hawaii, let's say 16:31 in three years. 16:32 What is that gonna cost? 16:34 Start setting it aside monthly. 16:36 >> That takes a lot of 16:37 discipline. 16:38 And I think a lot of people, 16:39 they look at this and they say, 16:40 "Wow, I really want that." 16:43 Well, if you want that and it, 16:45 and that's a value to you, 16:46 then you're going to have to be 16:48 disciplined. 16:49 And when you get that discipline 16:50 you are free, right? 16:52 >> You are. 16:53 And it does take discipline, 16:54 but especially when your 16:55 employer can take it off of 16:56 your paycheck every pay. 16:58 Out of sight, out of mind. 17:00 You know, you do the 17:01 calculations once a year 17:03 and then you go down to your 17:04 employer, take that money off. 17:06 You know, taking off 17:07 $120, $150, 17:09 maybe $200 every month 17:11 is significantly easier 17:13 than being saddled with 17:15 needing a new roof, 17:16 $12,000. 17:18 How am I gonna do that? 17:20 Home equity line of credit. 17:21 That's a lot of places 17:22 where people turn. 17:24 And then they're paying 17:25 interest on it. 17:26 >> Sven, you mentioned 17:27 future needs. 17:28 Can you tell us a little bit 17:29 about, you know, future needs 17:32 as far as 17:34 our children's education 17:36 and also as far as 17:38 retirement is concerned. 17:40 >> So future─ your children's 17:42 future education. 17:43 I mean, that is a biggie. 17:45 I think that 17:47 99% of us would agree 17:49 that we want our child to 17:50 do something in education 17:52 beyond grade 12, whether that's 17:54 at a trade school, 17:56 you know, becoming a red seal 17:58 in some area, 18:00 or going to a... 18:03 ...four-year degree, a bachelors 18:04 or a science degree. 18:06 So how do I do that? 18:08 Well, if you look into 18:09 an RESP, 18:11 the government has 18:12 significant 18:14 incentives 18:16 to really grow 18:18 the amount of money that 18:20 you have in that investment. 18:21 So I would strongly suggest 18:23 that you go down to 18:24 your local financial institution 18:26 and─ or Google 18:28 and learn about an RESP 18:31 and start it today. 18:33 You know, make your appointment 18:35 at the bank and then research 18:36 on how you're gonna do it, 18:38 because that's how powerful 18:40 it is, an RESP. 18:41 >> What does that stand for? 18:43 >> Registered Educational 18:44 Savings Plan. 18:46 Okay. 18:47 So then in retirement, 18:49 let's talk about retirement, 18:50 that's an RRSP 18:52 which we might be a lot more 18:53 familiar with, a Registered 18:55 Retirement Savings Plan. 18:57 And there are a number of 18:59 schools of thought 19:00 around retirement, 19:02 your own retirement, 19:03 because you have such a 19:04 long period in which you are 19:06 investing for it, 19:08 and hopefully equally 19:09 as long period that you're 19:11 gonna be able to enjoy it 19:12 in retirement. 19:13 But it cannot be our sole focus 19:15 that we are just driving 19:17 all of our extra dollars 19:18 into our retirement because 19:20 we also need to enjoy 19:21 our working years. 19:22 You know, we only have 19:24 so much time to enjoy our 19:26 children being in elementary, 19:29 you know, only so much time 19:30 that they're gonna be 19:31 in their teen years 19:33 and pretty soon they're gone. 19:34 So if we don't enjoy 19:35 those times either 19:37 to bolster the family unit, 19:39 you know, to keep our marriage 19:41 going strong, we still need to 19:43 take care of that. 19:45 But in looking at our 19:47 retirement, we do have 19:48 a long period of time. 19:49 Hopefully we have a long period 19:50 of time because we're gonna 19:52 start, if we haven't started, 19:53 we're gonna start today, okay? 19:56 We're going to start today. 19:57 So you need to in retirement, 19:59 have some... 20:01 ...tax-deferred growth, 20:04 which is probably gonna be 20:05 into an RRSP. 20:06 But also you're going to need to 20:08 have some that has already been 20:10 taxed so that when you're 20:12 in retirement 20:13 and you need to talk to a 20:15 strategist, a professional 20:16 financial advisor on this, 20:19 but when you are retired, 20:21 your money that is tax deferred, 20:23 you will probably set that up. 20:25 So it's a monthly payment 20:27 that's coming out 20:28 so that you don't get 20:29 hit with these large tax burden 20:31 in a single year in retirement. 20:33 But if you have, 20:35 like let's say in retirement, 20:36 you need a new roof 20:38 or you want to go on a holiday 20:39 or you need to pull out 20:40 a chunk of money, 20:41 you have a chunk of money 20:42 set aside which has 20:43 already been taxed. 20:45 And that's probably going to be 20:46 invested in a TFSA, 20:47 Tax-Free Savings Account. 20:51 >> Let me give you an example. 20:53 This came from a professor 20:54 at MIT in the States. 20:57 And as far as visualizing 21:00 the power of compounding. 21:03 If you could take Fenway Park... 21:07 ...and make it watertight... 21:10 ...and you had a magic 21:13 eye dropper... 21:16 ...where it would start with 21:17 one drop 21:19 and then it would 21:21 double and then double again 21:24 and then double again, 21:26 if you were sitting 21:27 up on the top tier 21:30 of the stadium... 21:33 ...how long would it take... 21:36 ...to fill up the entire stadium 21:39 with water? 21:42 And... 21:45 ..everybody is always wrong. 21:47 If you then also ask 21:49 the question, 21:51 how long would it take... 21:54 ...for there to be six feet 21:56 of water in the stadium? 21:59 The answer to that 22:00 is 40 minutes. 22:03 The amount of time to go from 22:04 The amount of time to go from 22:05 six feet to the top 22:08 stadium seat? 22:11 Forty-five. 22:14 Why? 22:15 Because remember, 22:16 every drop that's coming out 22:19 is doubling. 22:23 So when it's starting 22:24 when it's small, it's like... 22:27 ...yeah, this... 22:29 ...this isn't doing anything. 22:30 This is gonna take forever. 22:32 But once it starts to build... 22:37 ...it gets big fast. 22:41 And that's what we miss about 22:43 debt when we're paying 22:44 someone else. 22:45 We're putting money 22:47 in someone else's pocket 22:49 versus if we had kept it 22:52 and put it to work, 22:54 what it could be 22:55 doing for us. 23:01 >> This is very good. 23:02 So we're talking about 23:03 balancing all of our finances 23:06 and our financial needs 23:07 and seeing the big picture 23:10 of what we need now 23:11 in the present term and not 23:14 all hoarding it for later. 23:15 Sort of like the guy 23:16 in the Bible who 23:17 has a big barn, 23:20 but he wants to build a 23:21 bigger barn because he has 23:22 a big harvest, 23:23 and he just hoards and hoards 23:25 and hoards and he just sits back 23:26 and he says, "Well, now I don't 23:27 have to worry about anything." 23:28 And he forgets about God. 23:29 And the Lord says, "Well, 23:31 you're a fool 23:32 because your life could be 23:34 required of you today." 23:36 So we don't know when that's 23:37 gonna happen. 23:38 So we can plan 23:39 for the future, 23:40 but also 23:42 live in the present, 23:44 very important in terms of 23:45 all of this. 23:46 >> Sven, could you please 23:48 give us some timeless rules 23:50 for investing? 23:51 >> Sure. 23:52 Let's go back to the Bible... 23:55 ...and look up in Proverbs... 24:02 ...chapter 21, verse 20. 24:15 So when we think about 24:16 investing, we need to 24:18 realize that this is gonna be 24:19 a work of a lifetime. 24:21 If systematically, every month, 24:24 every paycheck, for all of 24:26 your working years... 24:28 ...so that, you know, when we're 24:30 retired, we are not a burden 24:32 on anyone, and we are still able 24:34 to be generous with others 24:37 and still being able to 24:40 help when people need help. 24:43 So we need to realize 24:44 that it is just as vital 24:46 as sleeping, as eating, 24:49 a very systematic approach. 24:51 This is where 24:52 the tortoise wins the race. 24:55 >> Yeah, very good advice. 24:57 I'm going to ask you to pray. 24:58 I'm just thinking in terms of 25:00 money as being comparable 25:02 to something. 25:03 I like to compare it to seed, 25:05 right, some of it 25:06 you can use, maybe it's 25:08 wheat seeds. 25:09 Some of it you can replant 25:11 and then it can grow again. 25:13 That would be savings. 25:14 And some of it you have to eat. 25:16 And so some of you have to spend 25:17 on our current needs right now. 25:20 And maybe someone is listening 25:21 to us right now and 25:22 they're thinking, 25:24 I haven't saved enough. 25:25 And I'm in a kind of a─ 25:27 I'm in a real tight spot 25:29 right now, and I'm listening 25:30 to this program and I realize 25:32 I have some future needs, 25:33 I have a present need, 25:35 and I haven't saved enough. 25:36 Maybe they're in their, 25:38 closer to their retirement years 25:39 and they're worried. 25:40 Maybe you can pray for them 25:41 right now that God will 25:43 give them wisdom 25:44 to trust Him, 25:46 that He will provide 25:47 for their needs, 25:48 but also trust Him to 25:50 see a strategy 25:52 for making the right decisions. 25:54 >> Sure, let's bow our heads. 25:57 Dear Father, I wanna thank You 25:58 for the love and grace 25:59 that You have given to us, Lord, 26:01 and that you have 26:03 given us wisdom, Father. 26:05 And Lord, I would like to pray 26:07 for all of those who are 26:08 thinking about 26:10 their future needs. 26:13 And Lord, if 26:15 they are struggling with that, 26:17 give them energy to be 26:18 systematic in that approach. 26:20 And if they feel that they 26:22 have... 26:24 ...earned retirement years. 26:26 Lord, they have such a 26:28 tremendous asset to pass on 26:30 to the younger generation 26:32 to help them through 26:34 the mistakes that they 26:35 might have made, Lord. 26:36 So please grant us wisdom. 26:38 In Your name I pray, amen. 26:40 >> Amen. 26:42 >> Sven, thank you so much 26:43 for joining us on 26:44 It Is Written Canada today. 26:46 >> You're welcome. 26:47 Thank you. 26:49 >> Friends, our free offer 26:51 is a little booklet entitled 26:53 The Windows of Heaven. 26:56 >> The Windows of Heaven 26:57 contains inspiring true stories 26:59 and promises from the Bible 27:02 of how God will provide 27:03 for all who put 27:05 their trust in Him. 27:08 >> Before you go, we would 27:09 like to thank all of you 27:11 who have supported the ministry 27:13 of It Is Written Canada 27:15 with your prayers 27:17 and financial contributions. 27:19 >> Yes, thank you. 27:21 And we would also like to 27:23 invite you to follow us on 27:24 Instagram and Facebook 27:26 and subscribe to our 27:27 YouTube channel, and also listen 27:29 to our podcasts. 27:31 And if you go to our website, 27:33 you can see our latest programs. 27:37 >> Friends, if you want the 27:38 kind of wisdom 27:39 that God longs to give you, 27:41 even in the financial areas 27:44 of your life, 27:45 we would recommend 27:46 you open the Bible 27:48 where it is recorded that 27:50 Jesus found His assurance 27:52 to defeat the devil 27:54 through the Word of His Father 27:57 when He declared... 28:09 [uplifting music] 28:12 ♪♪ |
Revised 2025-04-02