Proverbs Chapter 1 (1:3) calls for us to understand the words of prudence. Sounds kind of old fashioned, doesn’t it? That’s exactly why it still makes sense today, especially when it comes to money management! One definition of â€œprudenceâ€ says â€œWise in handling practical matters; exercising good judgment or common sense.â€ One doesn’t have to look far to observe the extreme lack of prudence and common sense in the world around us. The current bailout situation comes to mind.
The lack of prudence in our political leaders ought to scare those of us who believe the words of Bible are still relevant today.
Is investing in the stock market prudent? At Solomon Success, we don’t think so. We can’t imagine that the wise leaders of biblical times would have had anything to do with such a corrupt, incompetent system as that exhibited by Wall Street. Think it’s a good idea to turn your money over to them and expect a nice return? Some people did that to Enron. Others did it to Bernie Madoff. Now the current administration sees fit to throw more of your tax dollars at the situation in the form of loans. Terrible money management.
Your best bet is to get your money as far from the stock, bond, and mutual fund market as you can. That path leads to pitiful returns and possible disaster and, in our view, does not qualify as being a good steward of your money. Where can you invest? Gold is always tempting but there is a an asset that works even better â€“ real estate. As we recall, King Solomon was the owner of a fair bit of land and it seemed to work pretty well for him.
Stay tuned and we’ll help you get your money management skills up to the standard set in the Bible.
The Solomon Success Team
Flickr / dolphinsdock
Tags: money management