In 2014 a large global asset management company did an on-line survey among their US investors. The survey included 458 affluent investors with a minimum of $200,000 in investable assets not including their homes. The results were quite intriguing. The survey found these investors spent an average of one hour and twenty minutes each day thinking or worrying about money. That’s more than 9 hours each week.
The investors surveyed spent more than 20 full days a year worrying about money. Ten percent of those surveyed spent 2-3 hours each day thinking or worrying about money. That’s 30-45 days a year totally focused on money…all day. Are you kidding me? Some of us may relate to this and others may say “I’m glad I don’t have 200k to worry about.” Some of you don’t worry or think about money because you have a comfortable amount. A lot of folks don’t concern themselves with money because their money makes them feel safe and insulated. Which camp do you fall into?
Do YOU think more or less about a thing when you have more of it or less of it? How does the quantity of a thing correlate to the amount of mental time or worry YOU give it, and does this affect your ability to deal with it better or worse? Too many questions? Confused yet?
Barry Schwartz wrote a book in 2004, The Paradox of Choice. Mr. Schwartz argued that everyday decisions have become increasingly complex due to the overwhelming abundance of choice with which we are presented. Excessive choice can lead to confusion, depression and down right apathy. Mr. Schwartz notes our culture believes that when our options are many, there is less excuse for falling short of perfection. And, lets face it, from our churches to academia to athletics the world is preaching and rewarding excellence. The more choices and decisions you have to make with your money the more responsibility you have for dealing with it…and the potential consequences correspondingly increase.
A recent study in the Wall Street Journal showed where ten to twelve years ago you only had to make one investment decision to achieve a 6.5% rate of return. The article showed where that same rate of return in 2016 could only be achieved through a basket of investments. In simple terms, today you have to make 8-10 investment choices to achieve the same rate of return. This requires more proficiency, more experience, more counsel. More choices, more risk, more of a paradox.
The key question is not how much or how little money, or how many choices you have to make…the question is does money control your heart? Or better yet, does how you think about money reveal what’s in your heart? Bob Dylan said “ya gotta serve somebody.” Jesus put it best in Matthew 6:24. “No one can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and Money.” So….What/who are you serving? And, how does this effect not only your world, but THE world.
In the land of quantifying our government’s responsibilities with money, the US has $19T(trillion) in debt. In the world there is $8T of negative yielding sovereign debt(54% of total). Central banks own more than $25T of financial assets(a sum larger than the GDP of the U.S. and Japan combined, up $12T since the Lehman debacle in 2008 that preceded the financial collapse). Considering these numbers are growing each day, do you believe the people behind governments and these numbers think and worry about these monies more or less than they did 8 years ago? Do they think about these things more today than 6 months ago? Considering the world has never seen negative interest rates and governments have never been owners of so many financial assets, what do they rely on to make their decisions?
The writer in Proverbs 3:5-7 tells us to “Trust in the Lord with all your heart and lean not on your own understanding; in all your ways acknowledge him and he will make your paths straight. Do not be wise in your own eyes; fear the Lord and shun evil.” There is probably NOWHERE we exercise more of our own wisdom and understanding than with money. We have a tendency to use our own wisdom, the wisdom of financial advisors, consultants, friends, radio talk show hosts and whoever else BEFORE we pray and submit our minds and pocketbooks to the Holy Spirit. Worldly wisdom is not heavenly wisdom. If the Spirit leads you to godly counsel that’s great. But don’t trust your own understanding of how to go about the process without praying about it first. One more question, does that same advice apply to those making decisions with government debts and monies?
There’s a short story in the book of Luke where a landowner has to deal with more than he has had in the past. The guy relied on his past experience and wisdom before seeking heavenly guidance. It didn’t end so well for him. Check it out sometime (Luke 12:16-21). God wants to be first. God wants us to trust Him and not ourselves. He wants to be acknowledged first and foremost. We have a proclivity to seek His counsel after OUR protocol doesn’t work. The story in Luke reminds us time is not always on our side. Is time on your side today? How can you even know the answer to that question?
Our decisions have consequences and our choices help make those decisions. Today, make a choice on what will master your heart. Maybe you already have and don’t know it. Maybe you need to make a new choice. Today, make a choice to listen to Him and not yourself. Wake up and determine the condition of your heart. Draw a line in the sand TODAY. There are only two choices. Make sure it’s the best one for you and those you care about.