Presentation is loading. Please wait.

Presentation is loading. Please wait.

God & Your Finances Potomac Conference of Seventh-day Adventists Hugo F. Chinchay, M.B.A.

Similar presentations


Presentation on theme: "God & Your Finances Potomac Conference of Seventh-day Adventists Hugo F. Chinchay, M.B.A."— Presentation transcript:

1 God & Your Finances Potomac Conference of Seventh-day Adventists Hugo F. Chinchay, M.B.A.

2

3

4

5

6

7

8

9

10

11

12

13

14

15 Parable of the Talents Matthew 25:14-30

16 Talent 1 Talent = 1K Gold coins 5 Talents = 5K Gold coins 1 Drachma = 1 Day Salary 6,000 Drachmas = 1 Talent 30,000 Drachmas = 5 Talents 19 Years of Salary = 1 Talent Years of Salary = 5 Talents

17 Talent 1 Talent = $800K (53 Years*) 2 Talents = $1.6M (106 Years*) 5 Talents = $4M (265 Years*) (*Minimum Wage)

18 “...Well done, my good and faithful servant. You have been faithful with few things; I will put you in charge of many things...” Mat. 25:23

19 “Thou oughtest therefore to have put my money to the exchangers, and then at my coming I should have received mine own with usury” Mat. 25:27 KGV

20 God is not going to give more than what you’re capable of handling: Money, work, responsibilities, family, etc.

21 Stewardship - Commitment Finances Goals Health

22 Personal Finances Do you know how much you spend & how much you invest? Do you know how much you save?

23 Investment or Expense? Investment Expense

24 Do I need it or want it?

25 Cars Need Want

26 TV’s Enough Want

27 The Consumer System WantNeed

28 Enemy No. 1 Debts and Use of Credit Cards Make you a Slave “The rich ruleth over the poor, and the borrower is servant to the lender” Prov. 22:7

29 Debts destroy Families Divorce Separation FightsStress Children suffer

30 Debts Make You Slave “The rich rules over the poor, and the borrower is servant to the lender” Prov. 22:7

31 Do you want to be DEBT FREE? Is it Possible?

32 Resources to Pay off Debts Debt #1: $600 with $100 Monthly Payment Monthly Payment Additional Payment Total Payment Debt #1 Total Debt $100 $200 $600 Debt paid in 3 months instead of 6 months

33 Resources to Pay off Debts Debt #2: $1,600 with $200 Monthly Payment Monthly Payment Additional Payment (#1) Total Payment Debt #2 Total Debt $200 $400 $1,600 Debt paid in 4 months instead of 8 months

34 Resources to Pay off Debts Debt #3: $3,000 with $300 Monthly Payment Monthly Payment Add’l from #1 & #2 Increment Payment 20% Total Payment Debt #3 Total Debt $300 $400 $100 $800 $3,000 Debt paid in 3.3 months instead of 10 months

35 Resources to Pay off Debts Debt #6 (car): $13,000 with $400 Monthly Payment Monthly Payment From Debt #5 Total Payment Debt #6 Total Debt $400 $1,200 $1,600 $13,000 Debt paid in 8 months instead of 32.5 months

36 Summary of Debts Number of Debts Original Months to pay Actual Months paid You can be Totally DEBT FREE

37 Do you have a written Budget? If you spend what you have every month and don’t have for emergencies and vacations then you don’t have a budget

38 What is a Budget? Budget doesn’t give you more money Budget organizes you and helps you fund for all of your needs Budget controls your expending Budget helps you with your savings Budget helps you plan in the right direction

39 How do you make a realistic budget?

40 Budget Step #1 Take your bank statement or check register and list all your expenses: Church, utilities, mortgage, food, car, eating out, cloths, school, medicines, etc. Make sub-groups like: car, utilities, etc Identify what is a monthly expense Use a Miscellaneous line for expenses that are not frequent, but list them here.

41 EXPENSES Church (Tithes & Offerings) $550 Rent - Mortgage (Monthly Payment) $2,000 Food (Monthly Average) $450 Insurance (Monthly Average) $150 Gasoline (Keep your Receipts) $200 Eating Out (Keep it to the Minimum) $550 School (You or Someone at home) $150 Electricity/Gas (Ask for Budget Plans) $210 Trash/Water$100 Telephone (Not land line necessary) $60 Cellular (Family plan/Pre-paid plan) $120 Internet (Plans) $80 Cable TV (Not Needed) $80 Miscelaneous (Repairs/Others) $300 TOTAL$5,000

42 Budget Step #2 Income Husband & Wife $$ Minus Expenses: Church Food Utilities Mortgage/Rent Car Clothing Medicines School, etc. Left Over The goal is to spend less than what you earn to be able to save!

43 Budget Step #3 Savings Savings for Education Savings for Emergencies Savings for Medical expenses Savings for Vacations Savings for big purchases: Car, house, etc Savings for Retirement (Investments, IRA)

44 HOW TO INVEST FOR THE FUTURE Years$100/m $200/m $300/m $400/m $500/m 10 19,125 38,250 57,375 76,500 95, , , , , , , , , , , ,111 1,062,222 1,593,333 2,124,444 2,655, ,396,690 2,793,380 4,190,070 5,586,760 6,983,450 (Based on 10% average compound return) 401k 403b Roth IRA

45 “The desire to accumulate wealth is an original affection of our nature, implanted there by our heavenly father for noble ends.” COS p. 148

46 Wealth is not a matter of chance, Wealth is an issue of choice!

47 3 Steps to achieve 10-15% Average Annual Yield on all your Investments for life!

48 Step 1 Take Advantage of Trends

49 Step II Purchase High-yield dividend Paying Securities with History of Appreciation

50 Step III Purchase Long Term QUALITY High-Yield Investment

51 You Need a Financial Advisor

52 What Is An Estate? $$Money$ $ $$Money$ $

53 What Is An Estate Plan? Choosing When and How You Plan to Give Your Money Away

54 Everyone Has a Will You Choose Now YoursORGovernment

55 Estate Distribution Only Three Places FamilyChurchGovernment

56 56 Copyright © 2009 Crescendo Interactive, Inc. Charitable Annuity Trust Church $242,342 After two lives, property to Church. Mary Jones - 77 John Jones - 80 Principal $200,000 Two Lives 6.00% Annuity Trust Annuity $12,000. Income in 15 years is $180,000. Property $200,000 Income Tax Deduction $78,873. May Save $19,718.

57 57 Copyright © 2009 Crescendo Interactive, Inc. Give Three Times! Church $456,627 Remanider to Church Transfer Property to Trust. Take Income Tax Deduction of $107,415. Pay no Tax on gain. Property $350,000 Trust $350,000 Income Enhancement Unitrust Johnny Donor 70 Mary Donor 70 Lifetime Income from trust: $24,500 per year for Two lives. May Increase Annually. Donors may receive $608,158 in 21.8 yrs $608,158 $456,627 $1,064,785 Give three times

58 58 Copyright © 2009 Crescendo Interactive, Inc. “Give It Three Times” Trust Church $576,290 Cost Basis: $100,000 Transfer property title to Trustee. Property is sold from trust. No tax on sale. Bypass capital gain tax. Income tax deduction: $100,120 Asset $400,000 Trust $400,000 Income to Family $500,000 $669,758 $576,290 $1,246,048 Give Three Times! After 20 years

59 59 Copyright © 2009 Crescendo Interactive, Inc. Give It Twice Trust Church $500,000 At Death, Estate assets fund a Testamentary Trust. Trust is invested. Income is paid out to Family. Estate $500,000 Trust $500,000 Income to Family $500,000 $ $1,000,000 Give Three Times! Trust Terminates when Family has received an Amount equal to original Trust Principal

60 60 Copyright © 2009 Crescendo Interactive, Inc. Give Three Times Church $1, IRA is transferred to a non- taxable trust at time of death. Estate Tax Deduction $272,605 No Income Taxes IRA $1,000,000 Trust Children Receive Income for 20 Years $1,616,314 $1,554,986 $3,171,300 Give it threeTimes Deferred Inheritance Unitrust

61 61 Copyright © 2009 Crescendo Interactive, Inc. Give Three Times! Church $1,832,026 $1,232,000 $1,832,026 $3,062,026 Give Three Times! 1. Transfer Property to Trust. Bypass Capital Gains Income Taxes. 2. Take Income Tax Deduction of $347,245 Property $1,000,000 Trust $1,000,000 Joh & Mary Donor both age 75 Living Annuity Trust Lifetime Income from trust to Donors: $70,000 per year for Two Lives-joint & survivor. Total Income in 17.6 years: $1,232,000

62 What are your goals? SpiritualEducationWork

63 “The Lord will make you the head, not the tail. If you pay attention to the commands of the Lord your God that I give you this day and carefully follow them, you will always be at the top, never at the bottom” Deuteronomy 28:13

64 606 Greenville Ave., Staunton, VA (540) (909) Cell Call today to obtain your FREE Estate Planning documents, courtesy of Potomac Conference. Trust Services Potomac Conference


Download ppt "God & Your Finances Potomac Conference of Seventh-day Adventists Hugo F. Chinchay, M.B.A."

Similar presentations


Ads by Google