Issues for the new rich.

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slimon11 -> Issues for the new rich. (7/26/2008 6:48:48 PM)
I do not come from a family with financial wealth but, I know a variety of people and, would like to hear your thoughts none the less. The following is simply a hypothetical situation: I am a blessed Christian but, living pay check to pay check. Say that in the near future, I am to inherit a lot of money, like a million dollars. Aside from resisting temptation, indulgence and selfishness, what are some other moral, ethical and spiritual issues that need to be considered?

SovereignIsHe -> RE: Issues for the new rich. (7/26/2008 7:37:28 PM)
quote: ORIGINAL: slimon11 I do not come from a family with financial wealth but, I know a variety of people and, would like to hear your thoughts none the less. The following is simply a hypothetical situation: I am a blessed Christian but, living pay check to pay check. Say that in the near future, I am to inherit a lot of money, like a million dollars. Aside from resisting temptation, indulgence and selfishness, what are some other moral, ethical and spiritual issues that need to be considered? Temptation doesn't look at your wallet or bank acccount... John

MrFribbles -> RE: Issues for the new rich. (7/26/2008 8:34:36 PM)
I think the important thing to keep in mind is that it's not your money. It's God's money. He's just let you be in charge of it for a little bit. Now, that doesn't mean give it all to the Church, of course. But it does mean that you need to use it all in a way that is glorifying to God. So, for example, buying that $200,000 car... Probably not a good call.

slimon11 -> RE: Issues for the new rich. (7/26/2008 8:39:11 PM)
great point MrFribbles! quote: ORIGINAL: MrFribbles I think the important thing to keep in mind is that it's not your money. It's God's money. He's just let you be in charge of it for a little bit. Now, that doesn't mean give it all to the Church, of course. But it does mean that you need to use it all in a way that is glorifying to God. So, for example, buying that $200,000 car... Probably not a good call.

SovereignIsHe -> RE: Issues for the new rich. (7/26/2008 8:41:12 PM)
quote: ORIGINAL: MrFribbles I think the important thing to keep in mind is that it's not your money. It's God's money. He's just let you be in charge of it for a little bit. Now, that doesn't mean give it all to the Church, of course. But it does mean that you need to use it all in a way that is glorifying to God. So, for example, buying that $200,000 car... Probably not a good call. Why? What is wrong with a $200,000 car? Does that mean if a person who only has 100,000 buys a 20,000 car it's not a good call either? How is that not legalism? John

HHV5 -> RE: Issues for the new rich. (7/26/2008 9:01:08 PM)
quote: ORIGINAL: slimon11 I do not come from a family with financial wealth but, I know a variety of people and, would like to hear your thoughts none the less. The following is simply a hypothetical situation: I am a blessed Christian but, living pay check to pay check. Say that in the near future, I am to inherit a lot of money, like a million dollars. Aside from resisting temptation, indulgence and selfishness, what are some other moral, ethical and spiritual issues that need to be considered? Pray about it, and let the Holy Spirit guide you. I know it's vague, but everyone is in a different situation.

HHV5 -> RE: Issues for the new rich. (7/26/2008 9:02:30 PM)
quote: ORIGINAL: SovereignIsHe quote: ORIGINAL: MrFribbles I think the important thing to keep in mind is that it's not your money. It's God's money. He's just let you be in charge of it for a little bit. Now, that doesn't mean give it all to the Church, of course. But it does mean that you need to use it all in a way that is glorifying to God. So, for example, buying that $200,000 car... Probably not a good call. Why? What is wrong with a $200,000 car? Does that mean if a person who only has 100,000 buys a 20,000 car it's not a good call either? How is that not legalism? John Nothing's wrong with an expensive car, but IMHO, if you're obsessed with worldly desires, then it can be a problem.

MrFribbles -> RE: Issues for the new rich. (7/26/2008 9:08:40 PM)
quote: Why? What is wrong with a $200,000 car? Does that mean if a person who only has 100,000 buys a 20,000 car it's not a good call either? How is that not legalism? If you have $1,000,000, and spend $200,000 of it on a car, I don't see how that can be considered good stewardship. Actually, I don't see how anyone, no matter how much money they have, spending $200,000 on a car could be good stewardship. As I understand it, the average new car costs somewhere around 20,000 dollars, so spending ten times that much is... Unreasonable, to me. As for your example - I would have no problem with that, if they had some practical or otherwise genuine reason for getting a brand new car. Also, you will notice I used the word "probably". I suppose that there could be some situations where a $200,000 car could be used to honor God. I just can't imagine any at the moment.

SovereignIsHe -> RE: Issues for the new rich. (7/26/2008 9:41:32 PM)
quote: ORIGINAL: MrFribbles If you have $1,000,000, and spend $200,000 of it on a car, I don't see how that can be considered good stewardship. Actually, I don't see how anyone, no matter how much money they have, spending $200,000 on a car could be good stewardship. As I understand it, the average new car costs somewhere around 20,000 dollars, so spending ten times that much is... Unreasonable, to me. Depends... Some cars that cost $200,000 retain their value while most cars that cost around $20,000 lose 20-30% the moment you drive off and in a few years are worth pratically nothing... John

ddave12000 -> RE: Issues for the new rich. (7/26/2008 9:43:27 PM)
quote: ORIGINAL: SovereignIsHe quote: ORIGINAL: MrFribbles I think the important thing to keep in mind is that it's not your money. It's God's money. He's just let you be in charge of it for a little bit. Now, that doesn't mean give it all to the Church, of course. But it does mean that you need to use it all in a way that is glorifying to God. So, for example, buying that $200,000 car... Probably not a good call. Why? What is wrong with a $200,000 car? Does that mean if a person who only has 100,000 buys a 20,000 car it's not a good call either? How is that not legalism? John Hmmm, I've never considered this. Now, when I make my first million I'll know what to do with it. Thanks, John! Just kidding. If I had a million dollars I might drive a nicer car than I do now but I don't think I could ever enjoy a car worth that much money, it would cause too much worry. As to the OP, I would consider finding a way to invest your money and use it to glorify God.

MrFribbles -> RE: Issues for the new rich. (7/26/2008 9:44:52 PM)
quote: Depends... Some cars that cost $200,000 retain their value while most cars that cost around $20,000 lose 20-30% the moment you drive off and in a few years are worth pratically nothing... Ah, see, I didn't know that. I'm not much of a car guy, I'm afraid. Truthfully, both the number 200,000 and the idea of a car were picked fairly randomly. If I may rephrase in more abstract terms - if we're spending a good deal of money on things that in no way honor God, then we're not spending the money God has given us in a way that is pleasing to Him.

cpierc07 -> RE: Issues for the new rich. (7/27/2008 12:06:39 AM)
I think if you "come into the money" you should ask yourself what would god do? I wouldnt buy anything expensive though, if u need a car a nice used one is always good than u have more money too help others and further god's message, there are so many people out there that need guidence, that dont even know god or do and are tuning from their ways and becoming slaves too this world. What about opening an out reach center that directs people to the right path in life, If I had the money I would open one, I always have wanted too I think I will someday, where there is a will there is a way.

SonInMe1 -> RE: Issues for the new rich. (7/27/2008 10:06:18 AM)
If your money causes you to sin... send it to me. Case closed.

martyfran -> RE: Issues for the new rich. (7/27/2008 4:51:23 PM)
quote: ORIGINAL: SovereignIsHe Depends... Some cars that cost $200,000 retain their value while most cars that cost around $20,000 lose 20-30% the moment you drive off and in a few years are worth pratically nothing... John Actually, it still would be a better practice of stewardship to buy the $20,000 car in this case. Because if you buy the $200,000 car and it holds its value, you will have an asset worth $200,000 at the end of the first year. If you buy the $20,000 car and invest the rest at 6%, you will be better off. If the car depreciates 30%, then the car will be worth $14,000. If you receive 6% on the remaining $180,000, you will have $190,800 at the end of the first year. Therefore, your total asset value is $204,800. So on net, buying the expensive car is a very poor decision from a stewardship point of view.

kernsfamily -> RE: Issues for the new rich. (7/31/2008 5:07:59 PM)
wow....how did I miss this? anyway....this is a VERY relevant topic for me, as I have been in a similar situation over the past 4 or so years. Our church is fairly "affluent". There are MANY young families that we know (those who are in 20s to early 40s), are VERY VERY "well off" financially....though, they grew up in very "low income/lower middle class" families. Now, that being said, there is alot of difference between WINNING that $1 million, and earning it.....when you win it, that's it, there's $1 million. And, you're done. When earning $1 Million, whether in a year, or over a year or two, that is your INCOME, and it "usually" continues to find it's way into your bank account over and over again for quite a while......does that make sense? If it's "winning" $1 million, spend a fraction of it on some necessities and perhaps a little "splurging", tithe on it, and bank it....you'll need that money later.....if it's "income", then, you're free to spend a bit more of it, and not have to worry about banking quite so much of it. Our church saw a need 5-6 years ago....to minister to those within the church, and the community, who DID grow up in one "environment", and now, find themselves in another. (grew up low income and are now "wealthy")....since there was such a large number of folks in that situation....and they have issues that are unique to what has been happening in their lives. Things that we talk about in our "support groups"/get togethers include things such as stewardship and giving, obviously. But, the many issues such as family and old friends....and, the "resentment" they often express, as they feel "left behind", such as those who still live back in the "old neighborhood".....(my own father appears to have a "chip on his shoulder"....I haven't changed a bit....but, my father's perception of me has)......estate planning, being "aware" and careful about "new friends", and the discernment regarding that.....being "discreet" about personal finance details....etc, etc...etc.... The guidance I have received from participating in that ministry has helped me personally and spiritually. quote: Nothing's wrong with an expensive car, but IMHO, if you're obsessed with worldly desires, then it can be a problem. Good point. I have had many people I know "insinutate" that because of a "larger than average" income, and having some "nice things", that I can easily afford, that Iam "obsessed with worldly desires" and "greedy" and all. nothing could be further from the truth. I know "low income" people more obsessed with "things" and "Greed" than I am....but, that point gets "shot down" by many as an "insult" to those who are "less fortunate"..... sometimes you just can't win....and you just move on....and forget about it. And, realize that people are going to think what they want about you.....no matter what. And, there is nothing you can do about it.

OneOfHisJewels -> RE: Issues for the new rich. (7/31/2008 10:02:02 PM)
quote: .(my own father appears to have a "chip on his shoulder"....I haven't changed a bit....but, my father's perception of me has) Kind of odd, because didn't he do the same thing, and step up from where his parents were? Ya'd think he'd be pleased with you for following in his footsteps, so to speak. Maybe not into his job, but into his line of reasoning.

tracydolls -> RE: Issues for the new rich. (8/1/2008 2:55:47 AM)
Read the Bible, put money or mammon in the Bible's search engine. Somethings are a given. Pay tithes, help the poor, etc. It's the rest we struggle with. Were you satisfied with a decent running car? When you had no money? Then continue to be content with that.

kernsfamily -> RE: Issues for the new rich. (8/1/2008 9:01:44 AM)
quote: ORIGINAL: OneOfHisJewels quote: .(my own father appears to have a "chip on his shoulder"....I haven't changed a bit....but, my father's perception of me has) Kind of odd, because didn't he do the same thing, and step up from where his parents were? Ya'd think he'd be pleased with you for following in his footsteps, so to speak. Maybe not into his job, but into his line of reasoning. that's the really WEIRD thing...he DID 'step up' from where his parents were. He grew up in poverty in rural west virginia......but, right after high school, left there to work in the auto factories in Detroit....while we were "lower middle class" growing up, compared to my cousins who were still living back in West Virginia WE were "rich".....but, HE also got alot of "resentment" from his family for "leaving" and essentially being a "success" in his own right.....(whenever we would visit down there, my sisters and I were always referred to as the "rich city brats")....and, here we were, living in a "so-so" working class neighborhood in Detroit....we thought they were NUTS for calling US "rich"..... it's one of those things where "Everything is relative"....

armydude -> RE: Issues for the new rich. (8/1/2008 9:19:28 AM)
quote: ORIGINAL: slimon11 I am a blessed Christian but, living pay check to pay check. Say that in the near future, I am to inherit a lot of money, like a million dollars. Aside from resisting temptation, indulgence and selfishness, what are some other moral, ethical and spiritual issues that need to be considered? The biggest spiritual issue that I can think of is that everything you "own" actually belongs to God and is best used in a way that brings Him glory.

iluvatar -> RE: Issues for the new rich. (8/2/2008 2:02:40 PM)
quote: ORIGINAL: SonInMe1 If your money causes you to sin... send it to me. Case closed. This is the right answer, sort of. You should send it to me. quote: Now, that being said, there is alot of difference between WINNING that $1 million, and earning it.....when you win it, that's it, there's $1 million. And, you're done. That's right. And 1 million dollars isn't as much as it sounds like. Taxes could easily eat 1/3 of that (or more), then you're down to $650K. That's nothing to sneeze at, and using it wisely can certainly make your life a bit easier or more comfortable, but it's hardly what you, I, and most people think of as "rich." That's enough to buy you an average-sized house in my town, or enough to live off of for about 10-20 years. About 25 years ago, my dad won $100K in one of those 7-11 Big Gulp contests. That bought us a new truck, a small used camper-trailer, a down payment on a house, and a bit of money in the bank. That's it. Don't think of yourself as "new rich." Think of yourself as now having a better cushion in case something happens. -Dan.

Aleric -> RE: Issues for the new rich. (8/3/2008 11:46:35 PM)
There are some good post here. I see where a expensive car could be a bad thing. Then again, maybe not. God said, we'll be lenders not borrowers and that we should live a life other people want. We could get an expensive car and let the church use it for car shows. Here in Detroit that would be a good idea. It would gather a nice crowd. Myself I'm a very humble Christian. The most expensive car I've ever owned cost me $3300. The most expensive item I own is my computer and it's 4 years old. I have used furniture, used plates and glasses. A old 27" Sony T.V. from 92. Trust me when I say, I'm not this humble by choice. I'd love to own a car that isn't ten years old. Something I'm not wrenching on on a daily basis to keep it running. Or have the oil changed by someone at Jiffy lube, instead of by me in the parking lot of my apartment complex. I'm so poor I have to budget in the oil I buy for the oil change. And yes, I borrow friends tools when I fix my car because I don't have my own. By the way, my car caught on fire and was burned to a crisp during the 4th of July because people were lighting off fire works in the parking lot of my apartment complex. So I have no car right now. http://img177.imageshack.us/img177/6587/thecarij7.jpg So my question is. What if after years of just being so broke that I am completely worn out and unbelievably tired of it. That I get a lot of money and just buy a ton of nice stuff. Nothing crazy. Like a $200,000 car. Maybe just for once I'd buy a new car right off the lot with a ten year 100,000 mile warranty. But a simple car that fits my needs. Or a nice flat panel T.V. a big one but not like "wall sized". A new computer and a nice house in a nice area. New furniture... Man I could make a 6 page list of the stuff I want. Just say I went crazy and bought all the stuff I see everyone around me taking advantage of because they simply don't know what they have. Would it hurt me morally to have all this stuff all at once? I wish I could find a company that would be willing to commercially wrap a car in a Jesus ad and let me drive it for free. If they gave me gas money I'd drive that thing all over Michigan and probably Ohio and probable... Well every where. That'd be a good thing to do to a $200,000 car. http://www.ad-wraps.com/

armydude -> RE: Issues for the new rich. (8/4/2008 12:21:46 AM)
Well here's a question. What's wrong with the idea of buying yourself something nice? There will always be naysayers, but if your conscience is clear, go for it. I'd love to own a high end sports car. There will be people that will say, "That money could have been used to go to ________ charity." My response is (and will be), "If you have such a heart for that charity, are you giving to it?" Most of the time, people just want an excuse to take down people that have what they want. It's jealousy, pure and simple.

slimon11 -> RE: Issues for the new rich. (8/4/2008 12:59:07 AM)
quote: ORIGINAL: Aleric So my question is. What if after years of just being so broke that I am completely worn out and unbelievably tired of it. That I get a lot of money and just buy a ton of nice stuff. Nothing crazy. Like a $200,000 car. Maybe just for once I'd buy a new car right off the lot with a ten year 100,000 mile warranty. But a simple car that fits my needs. Or a nice flat panel T.V. a big one but not like "wall sized". A new computer and a nice house in a nice area. New furniture... Man I could make a 6 page list of the stuff I want. Just say I went crazy and bought all the stuff I see everyone around me taking advantage of because they simply don't know what they have. Would it hurt me morally to have all this stuff all at once? Aleric, I agree some simple answers on this thread that address the issue from about every angle: It would be "God's money" not mine;can't go wrong with that outlook. Good question from you. I am interested in seeing how they answer. That was one of the ideas I was originally trying to get at. For those of you who said a million is really not much. Let's change the scene from the OP. Now say I won 8 million dollars in the lottery. Would there be additional moral issues to consider if this we the case? I expected someone to bring up Matthew19:23. I'd like to hear some thoughts on the scripture. "Then Jesus said to his disciples, "I tell you the truth, it is hard for a rich man to enter the kingdom of heaven. 24Again I tell you, it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God." Do you think God was speaking only of those who were rich before knowing God? Thank you!!!

Ironworker -> RE: Issues for the new rich. (8/4/2008 1:03:58 AM)
I keep saying and believing planet earth isn't a play ground for me. But dang if I came into that kind of dough I hire me the best guided hunting safaris money could buy. But I also no it isn't ever going to happen,and that's a fact ma'm[:)]

iluvatar -> RE: Issues for the new rich. (8/4/2008 8:50:47 AM)
quote: ORIGINAL: Aleric So my question is. What if after years of just being so broke that I am completely worn out and unbelievably tired of it. That I get a lot of money and just buy a ton of nice stuff. Nothing crazy. Like a $200,000 car. Maybe just for once I'd buy a new car right off the lot with a ten year 100,000 mile warranty. But a simple car that fits my needs. Or a nice flat panel T.V. a big one but not like "wall sized". A new computer and a nice house in a nice area. New furniture... Man I could make a 6 page list of the stuff I want. Just say I went crazy and bought all the stuff I see everyone around me taking advantage of because they simply don't know what they have. Would it hurt me morally to have all this stuff all at once? That depends on how your attitudes and actions change with your new possessions. Also, I hope you're suing somebody (or at least got insurance) for the car. That's insane. -Dan.

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