Musings on Spiritual Matters

There is another book I read before this one, but wanted to review it because of some of the money issues I am facing this week.  The taxes has returned and I am getting a huge credit because of the “First Time Home Buyer Credit.”  This is a great deal, thank you stimulus plan.  With the money, I was faced with two choices, we bought a house which has a way of killing the savings account, and wanted to add some money to the mortgage or we could completely max out the Roth IRA’s.  I still had 5000 dollars to add to these.  I little to mine and mostly to Charity’s.  I elected to max out the Roth’s.  Especially with the market being down.

Also, I need to plug “Assist Services”.  Mitch down there did a great job on my taxes, he saved me thousands of dollars because of his understanding of “Preacher Taxes.”  If it was not for him and his team, most of my credit would be going back to the Government.  This brings me to my points.  First of all, preachers get some help with your money issues.  Sometimes preachers have nothing in retirement because the church paid them nothing while serving the Lord but there are also preachers who have nothing because they never learned to save and invest.  If you need help, get help.  When I was just starting out preaching, Eric Foreman who is a member of the Hartsville Pike congregation set me down and started a retirement savings account.  Thank you Eric.  Churches must help those new young men in preaching to start these programs.

Finally, I read this book recently, given to me by one of the members of Castle Rock.  This is a great book, it really advocates looking after your own money.  I use professional services, but take a active role in the management of the cash flow.  Ministers must educate themselves on these money issues.  Every preacher must understand how money works, insurance issues, and retirement programs.  This is a wonderful book after you have been doing this for awhile.  It is not a starter book, but will help once you understand some of the basics.

Related posts:

1. Great Perks of Castle Rock
2. Rumor Has It–Money Concerns
3. Money Men, Ministers, and the Master
4. Review of “What Pastor’s Wish Church Members Knew”
5. Review of “Leaders Who Last”

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This entry was posted by Matthew on Tuesday, March 31st, 2009 at 11:23 am and is filed under Church News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.