1st Principle of Biblical Wealth Management: Seek Biblical Financial and Investment Counsel

We’ve seen the commercial of the two babies on an airline in first class talking to each other across the aisle about their online trading techniques. It’s so easy a baby could do it. Or is it? This commercial tells you that you don’t need anybody’s help with your finances, that technologies allow you to manage your wealth all on your own. But is this a Biblical guideline? Unapologetically, no, it is not.  Scripture repeatedly tells us to seek wise counsel and the help of others who follow Biblical guidelines.

Plans fail for lack of counsel, but with many advisers they succeed.

The fear of the Lord is the beginning of knowledge, but fools despise wisdom and instruction.

Two are better than one, because they have a good return for their labor.

1 Timothy 3 gives some us some great guidelines to look for in someone for advice

1. One above reproach
2. Has only one spouse
3. Temperate
4. Self-controlled
5. Respectable
6. Hospitable
7. Able to teach
8. Not given to drunkenness
9. Not violent
10. Gentle
11. Not quarrelsome
12. Not a lover of money
13. Manages their own family well
14. Their Children obey them with proper respect
15. Not a recent convert
16. Has a good reputation
17. Sincere
18. Honest
19. Has a Biblical Worldview

I’ve met many advisers and counselors of all fields in my 29 years of business experience. On top of the 1 Timothy 3 instructions, a few things I might recommend to look for in a counselor is to seek somebody who has been in your situation, someone who knows what your concerns are and what you’re going through. I advise you to choose an adviser who has been in the industry for many years and has learned from their mistakes and are now much wiser and experienced. I suggest to put your trust in those who have learned to handle their own wealth wisely over the years, gradually building up sustainable wealth through wise choices. Remember these tidbits of advice when you are looking for somebody to help you in all areas of your life, not only wealth management.