I remember with crystal clarity the period in my marriage when Diane and I struggled the most with money. Oddly, it had nothing to do with raising our daughters, even though their needs were seemingly endless, like food, clothes, braces, school supplies, gas, doctor visits, etc. No, the worst financial period we experienced was prior to having children. At the time, I was convinced that in order to get out of apartment living and be able to purchase a home, we needed to make some drastic changes. I took an extra job working weekends and evenings, but knew it wasn’t going to be enough. Continue reading “Bobservations: When I Robbed God” »
The Sunridge facilities team is growing to keep pace with the increasing demands on our church campus. We are looking for an individual to fill a 20-hour per week position—mostly evenings and weekends, but with some flexibility. The position is ready to be filled immediately. It would be a great fit for: Continue reading “Part Time Janitorial Job Opening at Our Temecula Church” »
Of all of the incredible things God allows me to do at Sunridge, leading FPU (Financial Peace University) with my wife Diane is at the top of that list. We just finished the fall 2018 9-week session as part of “Thursdays at Sunridge,” and it was so much fun! My favorite part is seeing those aha moments happen. Continue reading “Bobservations: An Aha Moment” »
At the conclusion of the final quarter of our fiscal year, our Lead Pastor, Britt Sipe, reflected on some of the wonderful things that God is doing in and through our church over the last three months. Below is the fourth-quarter budget update email that Pastor Britt sends to those who financially invest in and support Sunridge.
As I write to you, one of Sunridge’s 528 financial partners over this past fiscal year, I am so grateful for the positive report I have for you. It’s so obvious that God has been prompting you and others to support the mission of helping people find and follow Jesus as never before. Here’s a few financial facts that are encouraging me, and I’m pretty sure will encourage you as well: Continue reading “Bobservation – Fourth Quarter Update” »
A LOOK BACK
Last year during Vision Sunday we presented the budget for the 2017-18 fiscal year. It was an important budget in the history of our church. Not because it increased the overall budget by 21% compared to the prior year’s budget, but because it was designed to move us forward. Within that budget we were able to add much needed staff to carry us into this season of momentum Continue reading “Bobservation – Looking Back and Looking Ahead” »
For many people Fall means back-to-school, cooler weather, football, and knowing the holidays are just around the corner. This year, I’m particularly pumped for the return of Fall because my wife and I are leading another 9-week session of FPU (Financial Peace University) starting on Thursday, September 13, 2018. I know I can get a bit passionate about FPU, not just because this program actually works or because it changes lives (it changed mine!) but because there is a huge problem with how people are handling their money. Check out these alarming stats on debt from Dave Ramsey’s blog: Continue reading “Bobservation – Gearing Up for Fall” »
Each quarter, Pastor Britt sends a quarterly budget update email to share all of the amazing things that God is doing in and through our church. In case you missed it, here’s the update from July 3, 2018.
Each time I sit down to write a quarterly budget update, I always begin by thanking God for the faithful people who make daily sacrifices so that Sunridge can be a church that is truly helping people find and follow Jesus. So, before I begin to tell you just a few of the ways your financial partnership is making a difference, can I just simply say a very heartfelt “thank you” for the tangible way you’ve joined us in sharing and living out the gospel here in the Temecula Valley? Thank you!
Now, here are just a few ways God has been showing up for Sunridge recently: Continue reading “Bobservation: Third Quarter Update” »
In 2004, my family went on an epic summer vacation that has become a tradition that now happens every other year. It all started with a tent trailer pulled by our old Jeep trekking along the beautiful California coastline, camping along the way until we reach Crescent City. We have since ditched the tent trailer for the comfort of cabins, but the trip is basically the same. We place a high value on this bi-annual trip because it provides quality family time, opportunities to be outdoors, extended periods without electronic devices, the unmatched aroma of giant coastal redwoods mixed with salt air, a lot of laughter, a way to disconnect from the normal routine of life, a reason to see the most amazing coastline on the planet, and one more thing – Continue reading “Bobservation: Tips for Debt-Free Summer Vacation” »
I remember it well; it was the type of Sunday we have come to expect at Sunridge. The service started with the worship team leading our church into a place of meaningful worship through music and songs. Pastor Britt presented a message that was practical, applicational, and allowed us to worship God through the truth of the Bible. Then it was time to worship with our tithes and offerings. As the ushers passed the baskets across each row, I sat in my seat ready to pass it to the person on my right when I noticed it was empty. Two emotions flowed through me; first there was panic because the basket was empty and our church is on a tight budget, but even more than that, I felt the awkwardness of passing an empty basket from person to person. I even noticed many were putting their bulletin in the basket just to avoid the discomfort of passing an empty basket. Obviously, creating an uncomfortable moment is not how we want to end our services. Our desire for this time was to allow people to joyfully worship God through their tithes and offerings. “Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver” (2 Corinthians 9:7). Continue reading “Bobservation: Passing the Plate” »
As the Pastor of Business and Finance, one of my roles is the oversight of the Agape fund. For those not familiar with it, the Agape fund is a designated benevolence fund designed specifically to provide one-time financial aid to those in financial crisis. I recently had the opportunity to meet with someone (not from our church) who was in need of financial assistance. I won’t get into the details, but as with most Agape requests, I ask some very direct and personal questions about their finances – what are their expenses, what is their income or income potential, what is their debt situation. In this particular case, I also asked about their retirement plan since they looked to be about my age. I was met with a blank stare. The silence said everything! I realize that most of the people who come in for financial aid aren’t thinking about retirement; they are simply trying to get through a rough patch and the thought of retiring seems too far out of reach. But what about you; are you thinking about retirement?
Recently, my wife Diane and I started reading Chris Hogan’s book, Retire Inspired, and it really lit a fire under us. Like so many my age, I grew up with the false belief that when I reached the age of 65, I would retire and Social Security would take care of my financial needs. If that is your plan, here is a quick history lesson that may change your mind. The Social Security Act of 1935 is an outcome of Franklin Delano Roosevelt’s Economic Bill of Rights. Social Security was a type of government safety net to provide some income at retirement. The Social Security Act established the retirement age at 65 when life expectancy in 1935 was 60. According to the Social Security Administration (SSA), life expectancy today is 84 for men and 86 for women. Furthermore, the SSA shows the average retirement benefit is $1,369 a month, not nearly enough for most retirees. That’s why in1974, President Kennedy enacted the Employee Retirement Income Security Act (ERISA) that set minimum standards for pension and health plans in private industry. Thus, the 401(k) and other tax preferred savings were born with the understanding that the responsibility of planning, sacrifice, and diligence is placed on the individual instead of the government. In other words, the government acknowledges that Social Security alone will not be enough; it is up to you to plan for your retirement.
Throughout his book, Chris Hogan dispels the myth that we can retire at age 65 by repeating the mantra that “retirement is not an age, it’s a financial number.” Some people cannot afford to retire at 65 because they don’t have enough money, while others may be able to retire much earlier. If reading this post is making you a bit anxious wondering what your number is and what it will take to get you there, you can calculate your R:IQ (Retirement IQ) number for free by clicking on this link. Albert Einstein is quoted as saying, “compound interest is the eighth wonder of the world.” This simply means that the sooner you get started saving for retirement, the sooner you’ll hit your retirement number. However, I must caution you as one who adheres to the Dave Ramsey baby steps, do not get ahead of yourself. If you do not have a $1,000 emergency fund; if you still have non-mortgage debt; if you do not have 3-6 months of living expenses saved up in liquid cash; you are probably not ready for this step. If you are ready, here are a few high level tips:
- Never invest in something you do not understand
- Determine if an IRA or a Roth IRA is best for you. (Super simple definition: IRA is a pre-tax investment meaning you are not taxed on the money when it goes in, only when you take it out. Roth IRA is after-tax meaning you are taxed on the money before it is invested, but all growth is tax free.)
- Have a diversified portfolio, which is a fancy way to say spread your investments around to lower the risk. (FPU provides an excellent standard diversification mix.)
- Take advantage of tax-favored plans (IRA, 401(k), 403(b), etc.…) whenever possible
- Never borrow against your retirement plan
I am passionate about handling money in a way that honors God and know that we all make better decisions when we have more information. My hope is that this high level overview inspires you to take action and start planning for your retirement regardless of your age because it’s never too late to start. If this post stirs up a desire in you to know more about how to handle money God’s way, be sure to check the Sunridge events page and watch for dates of the next session of Financial Peace University and enroll.