Margin Where It Matters: Preparing the Church for a Potential Financial Pandemic
The COVID-19 pandemic will undoubtedly have a long-term impact on the financial life of congregations, regardless of their denomination, size or makeup. In my conversations with pastors and leaders across the movement, it seems there’s a common denominator among those who aren’t experiencing the hardest and most immediate blows: margin. The congregations that went into the pandemic with some margin—financial, emotional, time, leadership, etc.—have been better equipped to weather the current conditions than those operating under tighter constraints.
The Rule of 72
Many of us are very familiar with the story: Jesus blesses the 2 fish and 5 loaves of bread, and they’re multiplied to feed thousands (John 6:1-14) It’s such an amazing story. That kind of multiplication is hard to get your arms around or envision. It’s encouraging as believers to know we’re in fellowship with the One who has that kind of power to amplify what’s good. And we’re invited to participate with Him!
How Accurate Are Market Forecasts? Survey Says…
At Servant Solutions, our Church 403b Retirement Plan has provided quality investment choices for a number of years. Our firm belief? That carefully diversified investments and consistent saving habits are key ingredients to building adequate assets for retirement. This is especially true as we ride the rollercoaster of large percentage swings in the market. Amidst the chaos, many prognosticators are making predictions and forecasts. But how do we view them through an accurate, healthy lens?
What’s an Investor to do?
Over the past two decades, the markets have experienced roughly seven different viral outbreaks, and the market has been able to recover from all of them. We do not pretend to know what will happen with this current outbreak, nor are we able to answer your questions as to where the ‘bottom’ is, when the market may recover, and what you should do with your investments. However, we can look to history for some answers.
Reacting to Market Volatility: How the Smart Investor Responds
Today a majority of economists surveyed believe the quarters ahead may be a little more challenging and may include more volatility, that is, more ups and downs. Most economists also believe that we are overdue for a recessionary period. No one can predict for sure. But looking at past cycles, it is normal for markets to take a breather and digest economic activity in bull markets when investments have gone up significantly.
Is There a Finish Line with Retirement Planning?
As good as it sounds to have to think only one time about what you’re contributing to retirement and be done with that decision, such an approach will likely result in a significant shortfall in retirement funds. To say you may find yourself exasperated with your account balance when you’re closing in on your time of retirement might be an understatement.
Steadfast
Steadfastness. It is a term we do not use as often as in the past. But it certainly applies as we experience the volatility of this current market.
Getting Back on Track
From Christmas splurges to vacations to nights out with friends to everything in between, it’s easy to spend beyond your budget. Start with a quick review of your budget. You’ll likely find that making a few simple adjustments can get you back on track. Consider using these simple, practical strategies to put your savings on the right track.
4 Retirement Mistakes You Can’t Afford to Make
2018 has been a volatile year in the markets, which can be hard on your retirement savings. Many do not think about their readiness for retirement every day, but the present market conditions seem to force us to think about it more. So, while we are on the subject, let’s address the 4 mistakes that […]