Leveraging Net Worth Giving with Ken Boa and Russ Crosson | FaithFi
December 5, 2023
Leveraging Net Worth Giving with Ken Boa and Russ Crosson
Faith & Finance with Rob West
Hi, I’m Rob West. The Bible clearly warns against storing up earthly treasure for its own sake and instead calls on us to be rich toward God. Today, Ken Boa and Russ Crosson tell us how to do that using biblical leverage.
“Lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal.” Matthew 6:20Ken Boa and Russ Crosson are our guests today.. Ken is a pastor and founder of Reflections Ministries. Russ is executive vice president and chief mission officer of Ronald Blue Trust. They’re authors of Leverage: Using Temporal Wealth for Eternal Gain.
WHAT IS BIBLICAL LEVERAGE, AND HOW CAN IT IMPACT ETERNITY?
Biblical leverage is the concept of using your current wealth to make a significant impact on eternity. It involves investing in God's work around the world, allowing one to witness how God multiplies these investments for eternal purposes.
Biblical leverage is using present wealth to contribute to eternal impacts.
It's about investing in God's work and seeing the multiplication of these investments.
This concept mirrors leveraging in finances, but with a focus on eternal outcomes.
HOW SHOULD INDIVIDUALS DETERMINE WHERE TO GIVE, AND IS IT ACCEPTABLE TO GIVE OUTSIDE THE LOCAL CHURCH?
It's important to give in ways that align with the spread of the Gospel and the Great Commission of making disciples. The New Testament encourages sharing with those who teach and disciple us. This giving can extend beyond the local church to various ministries involved in spreading the Gospel.
Giving should support those who disciple, teach, and evangelize.
The focus should be on contributions that advance the Gospel and disciple-making.
While supporting the local church is important, giving can extend to other Gospel-centered ministries.
WHAT IS THE NEW TESTAMENT'S PERSPECTIVE ON TITHING?
In the New Testament, the emphasis is on grace giving, which is proportional and based on one's ability. While there's no specified percentage, those who have received more are expected to give more. This form of giving reflects a commitment to God's perspective on lasting impact and identity.
Grace giving is emphasized, based on ability rather than a fixed percentage.
The more one receives, the more one is expected to give.
This giving is about investing in eternal values and personal identity in Christ.
HOW CAN INDIVIDUALS TEST WHERE THE SPIRIT IS LEADING THEM IN THEIR GIVING?
Testing where the Spirit leads in giving involves taking risks in faith. The more one grows in faith, the more significant the risks one is invited to take. This process requires a commitment to actions that depend on God's intervention for success.
Spiritual growth involves taking risks in faith, especially in giving.
Greater wealth implies higher responsibility and more significant risk-taking in giving.
Giving should be an action that requires divine intervention to succeed.
WHAT ARE THE DIFFERENT FORMS OF GIVING, SUCH AS CASH FLOW VERSUS NET WORTH GIVING?
Cash flow giving involves donating from regular income like salaries or dividends, suitable for most people. Net worth giving is more relevant for wealthier individuals, considering assets like real estate, stocks, or business interests. This form of giving requires looking at asset growth and managing resources to maximize giving potential.
Cash flow giving is donating from regular income sources.
Net worth giving involves donating from assets and investments.
Wealthier individuals should consider both forms to optimize their giving.
WHAT MINDSET SHOULD INDIVIDUALS HAVE DURING THE ACT OF GIVING?
The mindset during giving should be one of privilege and opportunity, viewing it as a chance to make an eternal impact. This perspective involves seeing wealth as a means to invest in what endures forever, rather than what is temporary.
Giving should be seen as a privilege and an opportunity for eternal impact.
It's about transforming temporal wealth into lasting, eternal value.
The focus is on investing in relationships and eternal impact rather than temporary wealth.
ON TODAY’S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:
My daughter has a high-interest car loan for $18,000 with a 21% interest rate and another loan for a different car; we're looking for advice on how to manage or refinance this situation.
I will soon receive a substantial sum of money and am uncertain about the best way to manage it. Should I seek a financial advisor or other professional help?
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