Wisdom On Wealth

Life insurance is very important, especially for those with kids.

Financial advisors are important, but having a Christian financial advisor specifically is what we should strive for.

We will provide an email where you can email us, and we can send you a list of Christian financial advisors.

You can walk into a bank and say, "I have X amount of money I would like to invest, what do you suggest I invest it in?" A bank would be a great place for investment help or a financial advisor.

Look for a financial advisor or groups that have a track record, of 30, or 40 years of experience so they know what has been successful and understand what to look for.

Bonds may also be something you want to look into instead of stocks since bonds are less risky.

For now, just start with saving and getting into good spending habits. Make sure you pay your tithes and you pay yourself, start building up your savings, and pray. Staying in prayer and asking the Lord for help and advice makes a big difference. Also, don't beat yourself up; there is time, and everyone has to start somewhere, so get started now.

If you are able, then you should definitely be working towards owning instead of renting. Also, if you pay off your house early then you aren't paying interest as much in interest.

I would suggest you do your own research, but I would not suggest term life insurance. If you have a 30-year term and you outlive those 30 years, then the insurance keeps all that money and pays you nothing, or you quit paying after 20 years, and the insurance company keeps that money and doesn't have to pay out.

Well, it depends on how many employees you have and other factors, but you should speak to a CPA or tax preparer because they will know the answer for that. The way we did it was whenever we got a raise, it went towards our retirement, and we didn't put it towards our lifestyle.

Start now. Don't keep putting it off; things will happen and you should start as soon as you can.

Yes, today, you can have several high-yield savings accounts. Those are definitely accounts I would look into more than the stock market.

Quicken, Excel spreadsheets, Mint.com.

If you give 10% to God, 10% to your savings, 80% to spend, but don't spend more than that. That is a great way to start saving and be faithful in giving to God.