Giving While You’re Living with Ron Blue

FaithFi: Faith & Finance | Jul 3, 2024

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Show Notes

2 Corinthians 9:6 says, “Whoever sows sparingly will also reap sparingly, and whoever sows bountifully will also reap bountifully.”

God’s Word repeatedly challenges us to be generous givers to our families and His Kingdom. When should we do this giving? Are we waiting too long? Ron Blue joins us today with an idea you may not have thought about.

Ron Blue is the Co-Founder of Kingdom Advisors and the author of many books on biblical finance, most notably “Master Your Money: A Step-by-Step Plan for Experiencing Financial Contentment.”

The Joy of Giving

There is immense joy in seeing the impact of your generosity firsthand. Whether you give $20 to someone working in an airport bathroom or support a charity, the act of giving not only helps others but also enriches your own life.

Preparing for Wealth Transfer

One practical aspect of this principle is involving your children in your financial generosity. By allowing them to see and participate in how you handle and distribute your wealth, you prepare them for the future. This hands-on experience can be vital to your wealth transfer or estate plan, ensuring that your values and approach to money are passed down.

Defining Your Financial Finish Line

To give maximally, you should define your financial finish line. This means determining what you must live on for the rest of your life and setting a limit. Once you reach this limit, you are free to give away the excess. This clear boundary simplifies financial decisions and opens up opportunities for greater generosity.

True joy and fulfillment come from using our resources to make a difference while we can see the results. By defining our financial finish line and involving our families, we can ensure that our generosity leaves a lasting legacy.

On Today’s Program, Rob Answers Listener Questions:

Do you have any recommendations on pamphlets or printouts about giving to the church or tithing?
Should I set up a revocable trust for my farm and assets to ensure an uninterrupted transfer of the farming business to my farming heirs when I pass away? I'm concerned about avoiding probate costs and ensuring the assets are distributed according to my wishes.
I was looking at purchasing some land and paying cash for it. But I am looking at putting it into a revocable trust. That way, when I pass, it can go right to my children and grandchildren and not go through a probate court or have all the taxes and fees and everything that, you know, happens when somebody dies. I also asked if putting it in a revocable trust would keep all of the inheritance tax and everything away or if there would still be some of that tax.
I have an extra $400 a month that I don’t know what to do with. Should I put it in my IRA, which has $2000, or my husband's IRA, which has $80,000, or put the extra $400 a month towards our mortgage payment?

Resources Mentioned:

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