Who Are You Getting Financial Advice From? Show 61

Following along can be a trap and cause us heartache if we’re not wise about who we’re taking our cues from. The Bible states that Solomon is the most wealthy person to have ever lived.

In today’s dollars some estimate Solomon would have a net worth of $1.2 trillion. For comparison, Jeff Bezos, who was the wealthiest person in the world up until last week when Amazon’s share price fell, is worth $192 billion. Solomon had over six times as much money has Bezos. 

God appears to King Solomon and tells him to ask for anything. Solomon thanks God for his favor that he had shown him and his father David, and Solomon proceeds to ask for wisdom and knowledge so that he can properly lead the people of Israel.

 2 Chronicles 1 states, “God said to Solomon, ‘Since this is your heart’s desire and you have not asked for wealth, possessions or honor, nor for the death of your enemies, and since you have not asked for a long life but for wisdom and knowledge to govern my people over whom I have made you king, therefore wisdom and knowledge will be given you. And I will also give you wealth, possessions and honor, such as no king who was before you ever had and none after you will have.’”

Are we asking the right questions? Solomon didn't put the cart before the horse. He knew if he had wisdom, then the other material things would flow to him. Maybe he was already wise enough to know how to ask for the right thing.

Before asking our questions we should figure out how to become more wise so that when we hear the answers, we'll know how to apply them. What good is knowledge without application?

In reflecting on these things, it seems it’s more important to pursue wisdom and knowledge so that when we have decisions to make, we can make prudent choices.

The natural question then becomes “How do I make prudent financial choices?” Years ago, I was taught in a class that everyone has a worldview. A worldview was defined as the lens through which we see the world.

 It’s important to take advice from people who have a similar worldview. A worldview isn’t an opinion about whether the stock market will crash this year or not. A worldview is a moral compass that guides you.

The second thing to look for is someone who has your best interest at heart. I think the easiest way to figure this out is to observe what a person is greedy about.  A person who is looking out for you is concerned about your outcome. They understand that if you have a favorable outcome, then they will have a favorable outcome. 

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