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What is faith-based financial planning? It can mean different things to different families, but at its root is the idea that we are stewards of God's gifts to us and therefore the money that results from those talents. We are to use that money responsibly—give God his share, take care of our family, enjoy the world God has provided us, and give thanks for all of it. Some people are ardent tithers and that needs to be incorporated into a financial plan. Some people don't want their money invested in certain types of companies. The bottom line is that we'll include your values in your financial plan.
The Parable of the Talents
This is my favorite Bible story related to financial planning: Matthew Chapter 25: 14-30
It will be as when a man who was going on a journey called in his servants and entrusted his possessions to them. To one he gave five talents; to another, two; to a third, one—to each according to his ability. Then he went away. Immediately the one who received five talents went and traded with them, and made another five. Likewise, the one who received two made another two. But the man who received one went off and dug a hole in the ground and buried his master’s money.
After a long time, the master of those servants came back and settled accounts with them. The one who had received five talents came forward bringing the additional five. He said, "Master, you gave me five talents. See, I have made five more." His master said to him, "Well done, my good and faithful servant. Since you were faithful in small matters, I will give you great responsibilities. Come, share your master’s joy."
[Then] the one who had received two talents also came forward and said, "Master, you gave me two talents. See, I have made two more." His master said to him, "Well done, my good and faithful servant. Since you were faithful in small matters, I will give you great responsibilities. Come, share your master’s joy."
Then the one who had received the one talent came forward and said, "Master, I knew you were a demanding person, harvesting where you did not plant and gathering where you did not scatter; so out of fear I went off and buried your talent in the ground. Here it is back." His master said to him in reply, "You wicked, lazy servant! So you knew that I harvest where I did not plant and gather where I did not scatter? Should you not then have put my money in the bank so that I could have got it back with interest on my return? Now then! Take the talent from him and give it to the one with ten. For to everyone who has, more will be given and he will grow rich; but from the one who has not, even what he has will be taken away. And throw this useless servant into the darkness outside, where there will be wailing and grinding of teeth."
Investments are subject to risk, including the loss of principal. Faith based investing can be based on a set of non-financial principles in addition to financial principles used to evaluate potential investments. The incorporation of non-financial principles can factor heavily into the security selection process. The investment’s faith based focus may limit the investment options available to the investor. Past performance is no guarantee of future results
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