Atiqur Rahman

DO CHRISTIANS NEED FINANCIAL PLANNING? Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:-The Elephant In The Church - The Unspoken DO CHRISTIANS NEED A FINANCIAL PLAN? The next generation .................................................................................. 12 Table of Contents Introduction ................................................................................................ 2 Do you have a Holistic Wealth Plan? .......................................................... 3 A Peep At Insurance .................................................................................... 3 Life Insurance: ............................................................................................. 4 Why Christians don’t buy .......................................................................... 12 Financial & Family Protection? ................................................................. 12 Statistics On Insurance .............................................................................. 13 Critical Illness Claims According to Age..................................................... 14 What should you do now? ........................................................................ 15 Serious Illness Cover: .................................................................................. 4 Income Protection: ..................................................................................... 4 What Does The Bible Say About Money? ................................................... 4 Is It Right For Christians To Have Future Plans? ......................................... 5 Savings & Financial Investment In The Bible? ............................................. 6 How Then Should You Plan As A Christian? ................................................ 7 Is An Insurance Policy Scriptural? ............................................................... 8 Tithe and Insurance .................................................................................... 9 Faith Versus Risk ....................................................................................... 10 Why you need ........................................................................................... 11 Financial & Family Protection? ................................................................. 11 You have a home....................................................................................... 11 You are married or live-in partner ............................................................ 11 You have children...................................................................................... 12 Planning for a funeral................................................................................ 12 You may be due to pay Inheritance tax .................................................... 12 Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 1 DO CHRISTIANS NEED A FINANCIAL PLAN? Introduction The most pertinent questions as a Christian is to know your life Proverbs 22:3 says that “A prudent man foresees evil and purpose, ; what are my life goals? And where do I want my life to be hides himself, but the simple pass on and are punished.” in one year, five years, ten years or twenty years? Consider Habakkuk 2:2 Then the Lord answered me and said: “Write the vision and make it plain on tablets, that he may run who reads it. It isn’t enough for you to just have financial plans in your head but you need to write them down and starts making deliberate efforts to achieving them. All these efforts will determine in future how early you can decide to retire. And perhaps you love what you do so much; you will continue to do it as a matter of choice and not as a result of being forced to continue to work at your old age due to inadequate income. Perhaps you are wondering when the best time is to sign up for Holistic Wealth Plan, the time is now. Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 2 DO CHRISTIANS NEED A FINANCIAL PLAN? As we know the starting point of any architectural mind, do you as a Christian need to make future financial plans such masterpiece is the FOUNDATION. God designed us as a as opting for an insurance policy? masterpiece, a chosen generation, so the foundation is so important. Do you have a Holistic Wealth Plan? The foundation of your wealth plan starts from protecting yourself, income and loved ones. Do you as a Christian need an insurance policy? Is the practice of Hey! You need to hold on before jumping into conclusion as there is a need to juxtapose various biblical references that relates to planning and finance with one another in order to arrive at the truth that should form the basis of your decision as regards this controversial issue. However, let’s take a quick look at what insurance is before taking a dive into the scriptures… taking an insurance policy against the Christian faith? Having A Peep At Insurance committed yourself, family, properties, business and most especially In simple terms, insurance refers to an agreement with an insurance your children to God in faith, do you still need to make plans for the company in which an insurance firm agree to cover your costs upon future knowing fully well that the Scripture admonishes us not to be the occurrence of a certain unfortunate event. The insurance benefit anxious about tomorrow? or claim you receive is done in exchange of premium payments you Do not worry about tomorrow, for tomorrow will worry about itself? Each day has enough trouble of its own" (Matt. 6:34). Bearing this in made to the insurance firm prior to the occurrence of the unfortunate incident. Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 3 DO CHRISTIANS NEED A FINANCIAL PLAN? In summary, when you arrange an insurance policy, you will obtain In some cases, this can mean you never return to full health and an insurance cover against a certain risk - Road accident, damage to could dramatically alter your financial situation. property, illness or death. This can be used to clear your remaining mortgage or other Life Insurance: If you were to pass away, your loved ones will commitments, pay for medical treatment, allow you take the struggle to meet your mortgage or rental payments or to maintain appropriate time off work to recover, the choice is yours. the lifestyle they are used to. Relying on your personal savings isn’t enough. Income Protection: When you're fit and healthy and feeling secure in your job, it's hard to imagine anything going wrong. But if it did, “Life insurance can provide a tax-free lump sum would you still get the level to ensure that at the worst possible time, the “Income Protection will provide you with a taxfree monthly income if you are unable to work due to any illness or injury.” financial stress is taken away.” Serious Illness Cover: Something often overlooked is what would happen if either of you were diagnosed with a serious illness. ‘One in two people in the UK will be diagnosed with cancer at some point in their Research UK. lives’, Cancer “On diagnosis of a serious illness, this policy will provide you with a tax-free lump sum to financially protect you.” of income you (and your family) are used to? Statutory Sick Pay is only £95.85 per week. The only requirement for a valid claim is a doctor’s certificate stating that you are unfit for work. What Does The Bible Say About Money? In order to properly discuss the need for Christians to sign up for an insurance policy, we will have to look into what the Bible says about Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 4 DO CHRISTIANS NEED A FINANCIAL PLAN? money. This is one of the real-life issues such as sex, death, sickness able to find contentment in God with whatever level of wealth we etc. that some Christians shy away from discussing. possess at the moment. When it comes to the Bible and money, one of the foremost More importantly, a proper study of the whole chapter of 1st Timothy scriptures that comes to mind is 1 Tim 3:10 which in the words of 3 reveals that Christians who lack contentment with whatever level Apostle Paul says that “For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows” However, a peep into the King Solomon’s writing in Eccl 10:19 – “A feast is made for laughter, And wine makes merry; But money answers everything” reveals that whether you are a Christian or not, you will need money to achieve your goals in life. And truth be told, even as a Christian, you definitely need money to achieve that charity goals of yours – from feeding the needy to clothing the poor. Therefore, we can safely conclude that possessing wealth is not an issue, as it can be used to achieve several good things but the issue is how we go about becoming wealthy and whether or not we are of financial capacity they possess at the moment will not care about the means of achieving more wealth and will desperately exchange their soul for money, thereby straying away from the faith. Is It Right For Christians To Have Future Plans? A study of the teachings of Jesus Christ as recorded in Matt 6:24-34 reveals how a Christian should approach life issues – not worrying about tomorrow and not placing any importance to the ephemeral things of this world but giving utmost attention to the things of the Kingdom. At this point, the question that barges on the door of your heart is that “Is it wrong for Christians to make plans or most importantly plan for the future? Other questions that could flood your heart are – Does making plans for the future translates to a lack of faith? Does having a financial plan hinder me from seeking first the kingdom of Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 5 DO CHRISTIANS NEED A FINANCIAL PLAN? God? Does making a financial plan automatically translate to caring about the things of this world? Savings & Financial Investment In The Bible? You see; you might want to conclude from this passage alone that it Let’s take a deeper dive into Scriptures that addresses directly the is wrong for Christians to have financial plans. Nevertheless, before issue of investment. making such conclusion, let’s dig further into the scriptures. ❖ Proverbs 21:5 records that “The plans of the diligent lead Jesus Christ as recorded in Luke 14:28 says “For which of you, surely to plenty, But those of everyone who is hasty, surely intending to build a tower, does not sit down first and count to poverty” the cost, whether he has enough to finish it - lest, after he ❖ 1st Corinthians 16:2 records that “On the first day of the week has laid the foundation, and is not able to finish, all who see let each one of you lay something aside, storing up as he may it begin to mock him, - saying, 'This man began to build and prosper, that there be no collections when I come” was not able to finish.'” ❖ Ecclesiastes 11:1 says that “Cast your bread upon the waters, For you will find it after many days” The Bible also records in Prov 6:6-8 that “Go to the ant, you sluggard! ❖ Matthew 25:27 says that “So you ought to have deposited my Consider her ways and be wise, - Which, having no captain, Overseer money with the bankers, and at my coming I would have or ruler, - Provides her supplies in the summer, And gathers her food received back my own with interest.” in the harvest.” In light of the two scriptural verses above, you will begin to see that it isn’t out of place for a Christian to make plans. Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 6 DO CHRISTIANS NEED A FINANCIAL PLAN? The latter will definitely have to worry about a lot of things along the “At this point, you will gradually begin to see that the Scripture is not against Christians being wealthy, and having financial plans for their wealth. However, the way while the former who has entrusted everything into the hands of God will worry less because he believes that God is able to bring to past his desired expected end. Scripture is so critical about the manner and posture we Just because you are a Christian doesn’t mean that you leave take while making wealth and this can be seen in the everything to chance. Even Jesus and His twelve (12) disciples kept following few Biblical verses below:” a purse and I strongly believe that they were intentional about it. And as it can be 1st Corinthians 10:31 records that “Therefore, whether you eat or deduced drink, or whatever you do, do all to the glory of God” the from following passages (Matt ❖ Proverbs 16:8 admonishes us that “Better is a little with righteousness, Than vast revenues without justice” How Then Should You Plan As A Christian? 26:9, Mark 14:5, John 12:5), it wasn’t Kindly consider this thin line when human make plans. Some make just to serve for plans and then go ahead to totally trust God for its accomplishment their (Prov 16:3 Commit your works to the Lord, And your thoughts will need alone but also be established) while others do trust in their own knowledge, that of others. strength, experience or men to bring it to fruition. (Psa 20:7) Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 7 DO CHRISTIANS NEED A FINANCIAL PLAN? • Is An Insurance Policy Scriptural? At this point, we can safely conclude that there is nothing wrong “Life insurance can be complex to with a Christian signing up for insurance as a financial tool. understand and ensure you have the • • • most relevant plan, so speak with an “Furthermore, Proverb 13:22 – “A good man • expert that can help.” • leaves an inheritance to his children's children, • But the wealth of the sinner is stored up for the • righteous” amplifies the stand that Christians can even sign up for a Life Insurance. ❖ It’s amazing for you to plan ahead uncertainties and to One sure way to leave inheritance for your loved provide for your loved ones, nonetheless, never allow wealth ones is by taking advantage of Life Insurance.” to become your ultimate goal. Whereas, set your eyes on things above. ❖ Psalm 62:10B - If riches increase, Do not set your heart on them. ❖ Proverbs 11:28 - He who trusts in his riches will fall, But the However, you should note the following when signing up for an righteous will flourish like foliage. insurance policy as a Christian: ❖ Seek counsel from professionals as there is safety in the multitudes of counsellors Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 8 DO CHRISTIANS NEED A FINANCIAL PLAN? Tithe and Insurance that the Lord your God may bless you in all the work of your hand which you do. Firstly, let’s consider Malachi 3:10-11 At first if you consider the promises in Malachi, you might want to 10 Bring all the tithes into the storehouse, That there may be food arrive at the conclusion that all you need to be prosperous as a in My house, And try Me now in this,” Says the Lord of hosts, “If I Christian is just to pay your tithe and that subscribing to an insurance will not open for you the windows of heaven and pour out for you policy is a lack of faith in the promises of God. such blessing that there will not be room enough to receive it. 11 “And I will rebuke the devourer for your sakes, So that he will not destroy the fruit of your ground, Nor shall the vine fail to bear fruit for you in the field,” Says the Lord of hosts; And then Deuteronomy 14:28-29 28 “At the end of every third year you shall bring out the tithe of your produce of that year and store it up within your gates. However, the truth is that unforeseen circumstances usually happen to everyone weather you pay tithe or not. Although the promises of God stand sure, even tithe paying Christians sometimes fall ill, have terminal 29 And the Levite, because he has no portion nor inheritance with diseases or even die prematurely. And you, and the stranger and the fatherless and the widow who truth be told; this doesn’t mean that are within your gates, may come and eat and be satisfied, God is no more God. Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 9 DO CHRISTIANS NEED A FINANCIAL PLAN? As a Christian, not until the corruptible you be made incorruptible will Therefore, a proper understanding of what insurance is will help you you attain a body that will be above these life circumstances. perfectly exercise both your faith in God and at the same time Then again, if you consider the latter, you will see that God advised without forsaking solid Godly wisdom. the Israelites to bring out the tithe of their produce at the end of Faith Versus Risk every third year and store it up within their gates at the end of that year. And what purpose was this meant for? It’s for the Levites, strangers, fatherless and widows which the Israelites will always have around them. You may be shocked but herein is Insurance! “Based on Deuteronomy 14 v 29, you can safely conclude that this was God’s insurance program to take care of widows and orphans in case of the loss of their loved ones.” Yes! You well know that there are quite a number of times that people do not have sufficient resource laid up for emergencies and tithe paying Christians aren’t excluded. In light of all the aforementioned, if you as a Christian sign up for any of the insurance policies, it does not translate to a lack of faith. James 2:18 says that – “But someone will say, "You have faith, and I have works." Show me your faith without your works, and I will show you my faith by my works” You can always make your financial plans expressing your faith that you will accomplish your set goals because your trust is in God Almighty and you are dead-sure that if the Lord wills, you will be prosperous. However, it is not wise for you as a Christian to just say you are expressing your faith and that you don’t want to be anxious about tomorrow and therefore have no plans. This is tantamount to taking a risk. Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 10 DO CHRISTIANS NEED A FINANCIAL PLAN? “King Solomon is considered one of the wisest men in the Bible, according to Ecclesiastes 11 he admonishes that we should be mindful about risk and have a coherent plan for the future.” If your outgoings are not mitigated by a guaranteed and sufficient death in service policy, saleable assets or an income, investment, savings, or pension plan then you may want to consider a life insurance policy. Here are a few of the main reasons that people choose to buy life insurance: Ecclesiastes 11 1 Cast thy bread upon the waters: for thou shalt find it after many days. 2 You have a home If you die before your mortgage is repaid, then the responsibility to complete payments falls to someone you love. Life insurance enables you to be proactive about ensuring those you care about can meet Give a portion to seven, and also to eight; for thou knowest not what evil shall be upon the earth. those financial commitments after you’ve gone. 6 You are married or live-in partner If you’ve become engaged or married and are joining families and In the morning sow thy seed, and in the evening withhold not thine hand: for thou knows not whether shall prosper, either this or that, or whether they both shall be alike good. Why you need Financial & Family Protection? One way to determine whether or not you need life insurance is to assets, it can make life easier to know you are both covered if one of you were to die. Life insurance enables you to make financial contributions to your partner’s and kid’s well-being after you’ve departed – which is a beautiful way to honour your marriage vows. consider what your financial obligations and contributions are and what are the impact on your loved ones if you were no longer around. Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 11 DO CHRISTIANS NEED A FINANCIAL PLAN? You have children The cost of raising a child is expensive, even before factoring in The next generation Getting older is a fact of life, and has a tendency to make us reflect. considerations like private education and university contributions. If you are at such a point in your life – whether due to age, ill-health Providing for your child to protect them against the unexpected is a or any of the above reasons – then the financial security of the next way to give yourself peace of mind and enjoy the present with them generation will be on your mind. Life insurance helps you put these more fully. worries to rest and focus on enjoying the future. Planning for a funeral In 2019 the average funeral cost is about £3,785. Funeral plan or over 50s life cover could help to pay off this cost. Contributions for this type of life cover tend to be smaller than others as the pay-out is significantly lower. You may be due to pay Inheritance tax Inheritance tax planning is inevitable for those intending to leave Why Christians don’t buy Financial & Family Protection? Most people buy car insurance, building insurance because it’s mandatory, despite the fact that they may never have been in accident in the past but struggle to apply same concept to their own lives. money for their children once they die. Bills can run into tens of “I thousands of pounds, which can make a significant dent in your insurance but not protect the things that children’s inheritance. However, if you were to buy a life insurance are more precious; is your life and family policy that covered the tax bill, they could enjoy everything you intended them to receive. Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- wonder why you will have car less important than your car or building?” E-mail:- 12 DO CHRISTIANS NEED A FINANCIAL PLAN? Excuses Reason Why People You have no control over your life or life events. assumptions are mere excuses it Are you better or more righteous than people who from doing the right thing assume will I urge you to be most honest with yourself, you will know that “There is never a better not have experienced difficult life situations? happen to time than NOW to put them the right Financial & People Sickness or death does not specify a specific time Family Plan Protection assume and age is no barrier. The younger you are the plan for your self and are cheaper the plan you can get now rather than everyone your life may they still young “ significantly changed. Do you consider cost or value? Depending on your assume it’s age and health situation you can get a plan for too costly about £10 for a lump sum benefit of £100,000 People You make time for important things in life, better assume still a financial expert is available to help you they don’t loved ones. impact.” waiting, as it will be more expensive and it’s possible you can’t get any cover if you health has People for yourself and your Statistics On Insurance Whenever we hear about someone we know passing away or being diagnosed with a critical illness, we are often jolted into the reality that critical illness can happen at a time we least expect it. More often than not, we blithely go on through life thinking that something bad as being diagnosed with a critical illness is something that won’t happen to us. Sadly, statistics tell us otherwise. have time Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 13 DO CHRISTIANS NEED A FINANCIAL PLAN? Critical Illness Claims According to Age The best part of your life planning is to ensure you have the right foundation in place, without the right foundation collapse may be inevitable. A professionally crafted Financial & Family Protection Plan is a particularly good starting point on your journey to ❖ Over 30,000 persons require heart surgery every year. wealth creation and ❖ Around 100,000 individuals in the UK are diagnosed management. with multiple sclerosis, a disease that strikes the young (20 to 30 years old). So, don’t delay further, speak with us today to support you on your wealth planning.” Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 14 DO CHRISTIANS NEED A FINANCIAL PLAN? What should you do now? Whatever class you may seat, it is in your best interest to have a There are three main classes of Christians when considering Free Consultation with a Qualified Financial Planner that can insurance: tailor recommendation and advice to your specific situations. 1. Those that have some sort of plan in place but unsure You can book a 20mins Free Consultation if it’s the right plan or best price/value for their Contact: specific scenario Deji Nehan 2. Those that are not aware of the need for a Financial & Family Protection Plan and have now been educated - - on its importance 3. Those that are aware of Financial & Family Protection Plan but have not planned due to procrastination or As a added bonus for taking the right step, we will build you an busy lifestyles Holistic Financial Plan that helps you to know your current and 4. Those that are aware but decided it is against their future goals, you will be able to model different ‘what if scenario’ and beliefs/faith to put a Financial & Family Protection have a better visual understanding of your Life Plans. Plan in place for themselves or their loved ones Finally, as a Christian, your financial hopes and plans are secure in God as Psalm 35:27 reveals that the Lord delights in your prosperity. Deji Nehan (Mortgage Adviser & Financial Planner) Telephone:- E-mail:- 15 The End “Proverbs 22:3 : “A prudent man foresees evil and hides himself, but the simple pass on and are punished.”