Managing the Store

Financial

You have heard it said, "Money is the root of all evil."  However, properly stated it is, "For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs."  1 Timothy 6:10

The corrected version is certainly true. In my line of work I have seen many relationships strained by the pursuit of wealth and money.  I've seen both men and women work unbelievable hours to the detriment of their families.  I've seen many people stressed out because they were neck deep in debt and had no cash flow to make their payments.  I've seen people making $500,000+ a year and barely had anything to show for it.  I have seen executives being paid handsome "golden parachutes" all the while destroying their company.  All these items listed in my litany give building wealth a bad name.  However, you have to consider this, it's not the wealth that is bad, but the character that is brought out of the possessor once acquired.

We have all heard stories about how success and wealth have corrupted people.  However, I did countless searches for the benefits of wealth, but couldn't find any other than, "It's good to be rich."  Basically, when it comes to building wealth there are plenty of "how to's" but very few "why I shoulds." Before we can consider this undertaking we have to have a proper understanding of what it means to build wealth and if it is alright to do so.

First, the Bible does not condemn having or building wealth - Abraham was blessed in order to be a blessing to others. 

Proverbs 3:9-10 (English Standard Version) 9Honor the LORD with your wealth and with the firstfruits of all your produce;10then your barns will be filled with plenty, and your vats will be bursting with wine.

Deuteronomy 8:16-18 (English Standard Version)
16who fed you in the wilderness with manna that your fathers did not know, that he might humble you and test you, to do you good in the end. 17Beware lest you say in your heart, 'My power and the might of my hand have gotten me this wealth.' 18You shall remember the LORD your God, for it is he who gives you power to get wealth, that he may confirm his covenant that he swore to your fathers, as it is this day.

Second, it should be understood that having and acquiring wealth is not a zero-sum game. Stated another way, having wealth does not mean that in order for me to win, someone else must loose.  Also, it does not mean that there is one "big piece of pie" for all of us to share.  In fact,  doing business expands the pie.  In Thou Shall Prosper by Rabbi Daniel Lapin, the rabbi states boldly, "Step one in the process of increasing your income is to begin wrapping yourself around these two related notions:  (1) you are in business, and (2) the occupation of business is moral, noble, and worthy." I agree with Rabbi Lapin.  When we conduct business - assuming that it is legal - it benefits others and it benefits us and our families.
With that said, here is a list that I have compiled that explains some of the benefits:

1. Allows you to be more generous.
2. Haven't seen a poor person give someone a job.
3. You will have capital to start a business if you want.
4. By staying away from debt, you avoid being enslaved. 
5. Retire on your terms.  Meaning, you won't have to rely on the government to support you.  Have you ever been through a Medicaid spend down?  I did this with one of my parents.  It was degrading.
6. You can leave an inheritance your children, loved ones, or charity. 
7. Having wealth and an emergency fund will keep you from making desperate decisions when hard times come. 
8. Builds confidence.  If you are over your head in debt, you will look desperate and will carry yourself differently while conducting business.  Clients are attracted to people who are confident and enthusiastic.  A little success builds on its' self.
9. You will have capital to invest during downturns in the economy when everything is cheap and usually below its' intrinsic value.
10. You can help others to become wealthy.

I dont' take the warnings of 1 Timothy lightly. The warnings are as important to do as they were in the first century.   Building wealth has benefits but it should not be at the expense of our relationships with others and our souls.  In the final analysis, it is my hope and prayer that any wealth I possess, doesn't possess me.  You see, I am only a manager.

"If your Riches are yours, why don't you take them with you to t'other world?" Benjamin Franklin