3 Money Moves of Solomon With John Putnam

FaithFi: Faith & Finance | Jun 6, 2024

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Show Notes

Many think Solomon was the wisest man who ever lived…and much of his God-given wisdom is about managing money.

John Putnam joins us today to talk about the 3 Money Moves of Solomon—so you can be just as wise.

John Putnam is a Strategic Stewardship Coach, a Certified Kingdom Advisor (CKA®), and the founder of Money Made Faithful, a financial discipleship marketplace ministry.

The Wisdom of King Solomon

Scripture makes it clear just how wise Solomon was. In 1 Kings, we learn that God granted Solomon wisdom and understanding beyond measure, surpassing all others in wisdom. So, what financial principles did Solomon advocate?

1. Be Disciplined

The first principle is to be disciplined. Proverbs 13:11 states, "Wealth gained hastily will dwindle, but whoever gathers little by little will increase it." Discipline in this context means making small, wise financial choices consistently over time, which leads to long-term success. This approach helps build a strong foundation for financial stewardship.

2. Be Denied

The second principle is to deny oneself. Proverbs 21:20 reads, "Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it." Denying immediate gratification helps prepare for future uncertainties and ensures you are better positioned to seize present opportunities. It fosters a wise stewardship mindset and focuses on God’s plans for your life.

3. Be Determined

The third principle is to be determined. Proverbs 10:4 says, "A slack hand causes poverty, but the hand of the diligent makes rich." A clear vision, mission, and values are crucial for financial success. Determination helps create a focused approach to stewardship, impacting your life and leaving a lasting legacy.

Timeless Wisdom

These principles are timeless and apply to all stages of life. Whether in your twenties or seventies, the wisdom of disciplined, self-denying, and determined financial stewardship remains relevant. Sharing and applying these traits can create ripple effects through eternity.

For more insights from John Putnam, visit MoneyMadeFaithful.com, tune into the weekly Money Made Faithful podcast, or follow @MoneyMadeFaithful on Instagram and Facebook.

On Today’s Program, Rob Answers Listener Questions:

I recently started pricing some options with my financial advisor but sought additional guidance. I was considering it because, at my age, in my late 50s, there may not be family available to care for me in the future, so I wanted peace of mind. Do you have any recommendations for specialists in my area of Naples, Florida, from whom I could get more advice?
Is it possible to purchase a gift certificate equivalent to a store gift certificate for stocks? I want to give money to someone to invest in stocks, but they don't want to accept the money directly. Is there a way I could buy a "gift certificate" that they could then use to purchase stocks themselves?
What is the best time of year to take required minimum distributions (RMDs) from my retirement account since I have to start taking them at 75? I am still working at 75 and directing the RMD money directly to my church. Do you recommend taking the RMD early in the year, in the middle of the year, or later? I am looking for guidance on the optimal timing.
What is driving the strong bull market performance? My investment portfolio is up 35% over the past three years and I see sky-high returns. Will our grandchildren and their grandchildren ever be able to pay down the massive national deficit?

Resources Mentioned:

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