Money Matters
“You will be enriched in every way so that you can be generous on every occasion” (2 Corinthians 9:11). Paul also urged believers to “excel in this grace of giving” (2 Corinthians 8:7). We spend much of our time learning how to be better at earning, saving and investing. Why not become better at generosity as well?
Make Generosity Intentional. A financial plan should help answer the question: How much is enough? Once our family has responsibly provided for retirement and contingency goals, continued success creates margin. Margin is wealth. Knowing your financial finish line helps you recognize when that wealth can be used for God’s purposes.
Involve your Children and Grandchildren. Deuteronomy 6 instructs us to teach God’s principles through ordinary life. The holidays are a great time to teach generosity. At 3C Financial, we often hold family meetings with clients who want to teach generosity to the next generation. This can include discussing how much the family plans to give and the types of causes that matter to you. You can then give children and grandchildren a portion to be responsible for, ask them to research a charity, and have them explain why it fits your family’s giving priorities. This creates ownership and excitement around giving. Proverbs 13:22 says it is a good thing to leave an inheritance to our children’s children. While that inheritance can include money, it should also include the principles that teach them what money is for.
Give Wisely. Intentional generosity can often enhance a financial plan. For those over age 70 ½, a Qualified Charitable Distribution can send IRA dollars directly to an eligible charity without that distribution being included in taxable income. This strategy can leave more of your other resources available for the purposes you care about while potentially reducing your tax liability. Depending on your situation, Donor Advised Funds, CRATs and CRUTs may also be useful. At 3C Financial, we work alongside our clients’ CPAs and estate planning attorneys so these decisions benefit from each professional’s expertise.
Decide what God Wants You to Accomplish with Your Resources. Eventually, what we accumulate will be spent, given, taxed or inherited. Biblical stewardship means asking what God would have us accomplish with what He has entrusted to us, and then planning accordingly.
– Heath Goodson
Wealth Advisor
205-970-5242
Securities offered through Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA, SIPC (Equitable Financial Advisors in MI & TN). Investment advisory products and services offered through Equitable Advisors, LLC, an SEC-registered investment adviser. Annuity and insurance products offered through Equitable Network, LLC. 3C Financial is not a registered investment adviser and is not owned or operated by Equitable Advisors or Equitable Network. Equitable Advisors and Equitable Network are affiliated companies and do not provide tax or legal advice. Equitable Advisors does not offer faith-based or religious investment advisory services and does not recommend securities, investment strategies, or financial products based on religious principles. Investment recommendations are provided solely on the basis of a client’s financial circumstances, objectives, and suitability considerations.
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