Solomon investing is a phrase we use to refer to the idea of investing by principles that can be supported by Biblical scripture. There are all kinds of reasons people invest but they all don’t meet the litmus test of the Lord. Is investing even scriptural? At Solomon Success, we say yes but, like in the title, it all depends upon your attitude going in. Luke 12:15 cautions against greed, while Proverbs 23:4-5 warns against get-rich-quick schemes, and Proverbs 29:3 tells us ego-based investing is a bad thing.
Our take is that investing for reasons of 1) greed 2) to get rich quick, or to 3) satisfy your ego have no basis in the Bible. When does investing meet a Biblical standard? Good question. Follow the method of history’s richest and wisest man, who just happened to also be blessed by God and, chances are, you won’t go wrong.
For Solomon investing, Luke 19: 12-27 discusses being a good steward, a concept which absolutely could encompass investing. Saving for future needs such as college or retirement falls into the category of Biblical investing, especially as espoused in Proverbs 6: 6-8.
Ultimately, however, it all comes down to attitude and, though God is the ultimate judge of that, each of us has a pretty good inclination in our heart about the Biblical soundness of our investment strategy. There are a few ideas to keep in mind to insure your actions stay in line with Solomon investing:
1. Don’t risk money you can’t afford to lose. If an investment lost would cause financial ruin or other major problem for yourself or others, better not do it.
2. No quick decisions. Take time to think and pray. Seems like common sense, right? Then why do so many people jump on a â€œgoodâ€ deal or â€œinsiderâ€ knowledge when they don’t really understand the situation. Because they’re NOT investing with the right attitude.
For the Christian, our money is God’s money. Stop and consider what you’re doing before squandering it foolishly.
The Solomon Success Team
Flickr / billaday
Tags: Solomon investing