The Power of Pentecost

FaithFi: Faith & Finance | May 17, 2024

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Show Notes

“But you will receive power when the Holy Spirit has come upon you, and you will be my witnesses in Jerusalem and in all Judea and Samaria, and to the end of the earth.” - Acts 1:8

Those were Christ’s words to the apostles after his resurrection. The fulfillment of that promise began a few days later, on Pentecost, and continues in believers to this day. We’ll explain what that has to do with your finances.

Transforming Your Financial Decisions

In the Christian calendar, while Christmas and Easter receive the most attention, Pentecost is a pivotal event for believers, emphasizing themes of power and proclamation. This year, as Pentecost approaches, let's explore how this day influences more than just spiritual life—it impacts our financial decisions too.

Pentecost celebrates the descent of the Holy Spirit upon the apostles and early followers of Jesus, as recounted in Acts 1:4-8 and Acts 2. Jesus, after his resurrection, promised his disciples that they would be baptized with the Holy Spirit, which would empower them to be his witnesses "to the ends of the earth." This promise was fulfilled on Pentecost when the Holy Spirit descended like tongues of fire, enabling the apostles to speak in various tongues and proclaim the Good News to people from diverse regions, resulting in 3,000 new believers in one day. This miraculous birth of the Church underscores Pentecost’s themes of divine power and the call to proclaim the gospel.But what does Pentecost mean for Christians today, especially regarding financial decisions? Pentecost reminds us that, as part of the body of Christ, our actions—including how we manage our money—reflect our faith and values. As Paul writes in 1 Corinthians 6:19-20, our lives are not our own; we were bought at a price and are called to glorify God in all aspects, including our finances.

A Pentecost-informed perspective on money prioritizes serving others over personal gain. It changes our motivations, inspiring us with a new spirit and a heart for generosity and ethical conduct. This spiritual transformation should drive our financial choices, encouraging us to use our resources to further the gospel and serve the global community.

As Pentecost Sunday nears, let's remember its profound impact on our spiritual lives and daily financial decisions. Embrace the Holy Spirit’s power to cultivate godliness in every area, including our economics.

On Today’s Program, Rob Answers Listener Questions:

I had a question about saving on capital gains from selling my home and two properties, totaling 27 acres. We're selling the 27-acre property for $400,000, and I'm considering possibly having $140,000 in capital gains from that sale. I also sold 5 acres for $92,000 and expect $10,000 in capital gains. I would like to know if I can do anything to reduce the capital gains I owe or how I can best handle this situation from a tax perspective.
Do I need to pay taxes on the capital gains I received from property I inherited from my deceased brother? The property went through probate, and I became its successor. I had the property for over a year before selling it last year. I wanted to know if I would need to pay taxes on the capital gain since the property was inherited from a family member.
I had a question about the capital gains tax on a house I sold after my mother passed away, and my brother lived in it under a life estate. I had my mother's house put in my name years ago, and after she passed away, my brother lived there for the last 12-15 years under a life estate. He recently passed away about a month ago, and the house came back to me, so I went ahead and sold it. I'm splitting the money evenly with my other brother. I wanted to know how the capital gains tax would work since there was never a formal will, and I'm sharing the proceeds with my brother.
Do you have any thoughts on using the mobile banking apps that banks offer and cash transfer services like Venmo, CashApp, Zelle, and Paypal, and if you prefer any of those services over another when transferring money?

Resources Mentioned:

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