July 27, 2015
Don’t bother me right now. I’m getting ready for my meeting…
Tomorrow morning, I’ll be with George Andrews. It’s my quarterly sit-down to get my tune-up. I’m accountable for what I’ve done the last few months, and I need some counsel about the road ahead. George is the Managing Director for Ronald Blue & Co. in Southern California, and he’s my financial coach. Q: Who needs a “coach,” in any category of life? A: Someone who wants to win.
America needs a coach, and some accountability. At the end of 2004, National Debt was $ 7.9 trillion. At the end of ’14, it was $ 17.8 trillion – an increase of 141%. Using a debt/GDP ratio for perspective, we were 60% debt/GDP in ’04; today, it’s 101%. We’re out of control…
Cheri and I are doing better than the USA. Our debt has shrunk to zero; our ratio makes our country look like a third-world operation. Personally, we’ve weathered the Recession and advanced. Reason: we’ve had good coaching, and our performance has reflected that influence.
Here’s a highly historic idea: we will always be better off if we structure our life – at all levels, including the realm of our personal finances – based on the counsel of the Scriptures. That’s what George – and, the folks at RB&Co. – do: God knows more about how things work than the talking heads on the networks. For 30 years, I’ve given financial advice to my community based on the Scriptures… but I know that no one can hold their own feet to the fire as well as an objective, outside voice. Let me be that voice; let me give you some mid-year counsel to help you outperform the USA:
» Tithe. If you’ve been giving the first 10% of your income to God, keep it up (only one-out-of-ten Christians do). If you haven’t been tithing, start now. Today. Don’t wait! If you don’t make ANY OTHER CHANGES to improve your financial life, DO THAT. You want God on your side, and He focuses His attention on the people who take Him seriously. Tithe.
» Change your oil. Every 3000 miles. Then, keep your car for 150,000 miles… and stop taking the depreciation hit every time you drive the new one off the lot. If you’ve been changing cars every three years, go to seven. You’ll save a bundle. I’m at 55,000 miles in four years… and shooting for 100,000 in ten. Want a new car? Keep your old one looking new! Wash it!
» Retire your mortgage, not your career. You get a Bible badge for getting out of debt; you have no verses that applaud your efforts to trade meaningful work for meaningless leisure, as a way of life. The old logic said to put your extra dollars into stocks instead of retiring mortgage debt. Care to reconsider? Anybody jumping off buildings because they prepaid their 30 year fixed rate home loan?
» Pay cash, or don’t buy it. Sure, you can use your credit card for convenience, but if you’re carrying any balances, paying any interest on plastic, you’ve become a chump to the card company. The only “good” interest is the kind you collect, not the kind you cough-up. Your FICO shouldn’t matter… because you shouldn’t be borrowing, anyway.
» Be understated. Your accountant should be impressed; your neighbors shouldn’t. Your house isn’t an investment; it’s your family’s home. If you need a trophy, join a bowling league.
» Build a bunker; put your family in it. Security isn’t what you pledge for a loan you shouldn’t pursue, it’s what your family enjoys when they know that the equity in the place they live isn’t on-the-hook for a risky business proposition. Protect your family; don’t expose them…
» Get married. Single people never match the financial stability of committed married people. “I’m waiting until I can afford it?” Wake up: you can’t afford not to. Find a fellow believer who makes you better than you are by yourself, and say “I do,” and, then, do. You’ll be a winner on all fronts.
The folks in Washington are out of your control. It would be real sad if YOU were out of your control. It’s time to get serious… and be counter-cultural. As for me and my house, we’ve been working that list for decades, and it works.
Maybe George should run for President.
Roger B on 
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Sort of says it all.
Wonderful ! We just need to pray that Washington wake up or…. We won’t have a country anymore!
Great blog today Bob! I agree and practice everyone of your suggestions, and have done this all my life. It works.
Bob, great stuff (as usual) but I’ve got to tell you…as a real “car guy” and someone that’s been in the industry for decades, oil changes at 3,000 miles is a myth perpetrated by the oil and filter companies and oil-change providers.
Considering everything, 5,000 is much more reasonable…really. Saves environment from disposal waste, engines last just as long (provided you change the filter every time…not every other time as used to be the case)….5,000 increments are easy to remember. Really, 5,000 at least…not 3,000.
Hey Bob, nicely said. great reminder. thanks so much!
Hey Marty,
I repent! And, I follow the 5,000-mile schedule myself (by manufacturer’s design). The 3000 was the “conservative” track. You’re right…
Thank you for the timely reminder & your continued example of obedience to God’s plan. I agree, Heidi would make a brilliant first lady!
We continue to move forward & appreciate you and this ministry of TMP! Always praying for you and the family.
Your topic this week was compelling, and so I will seek out a personal coach.
I had no idea how bad that accident was. Thank God that you are here and that the women are all OK also.
Thanks for sharing your story and what you thought as you went through it. I didn’t know how much pain you are in constantly.
I’m attaching a link to this week’s cover story in Barron’s. Our former CEO at Wells Fargo, Danny Ludeman, and his transition from success to significance: I would argue that he was doing an awful lot of good before he left our firm, but pretty interesting the witness he has now.
http://online.barrons.com/articles/retired-wells-fargo-exec-to-help-ex-convicts-1438411957
Sure glad you are the you I know now. God Bless!