2006 Archives
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Periodic check-ups aid financial health
Posted: 10/13/06
Periodic check-ups aid financial health
Many financial ailments can be avoided with periodic check-ups. Sherre Stephens, a certified employee benefits specialist and director of executive and institutional benefit design for GuideStone Financial Resources of the Southern Baptist Convention, prescribes a six-point self-examination:
• Maximize retirement plan deferrals.
“Deferrals to your employer’s retirement plan reduce current federal income tax liability and enhance your retirement savings,” she wrote in a recent column distributed by GuideStone.
Sherre Stephens “If your employer offers a match, don’t pass up this benefit. The 2006 basic limit is $15,000—$20,000 if you are age 50 or older.”
10/16/2006 - By John Rutledge
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Keep tabs on credit scores, adviser says
Posted: 10/13/06
Keep tabs on credit scores, adviser says
Numbers unknown by most people may affect their ability to secure a loan, buy an insurance policy or even get a job.
Three credit bureaus track consumers’ credit histories, and that information is used to calculate and report a person’s credit score.
“Many businesses use your credit score as a way to assess your ability to handle your financial responsibilities,” said Don McLeod, a certified financial planner and area director in retirement solutions and services with GuideStone Financial Resources, a Southern Baptist agency.
Don McLeod “Think of your credit score as your financial GPA,” McLeod wrote in a recent column distributed by GuideStone. “Your score could range from 300 to 850. Of course, the higher, the better.” McLeod offers three suggestions about how a person can keep tabs on his or her credit score:
10/16/2006 - By John Rutledge
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Good stewardship demands proper estate planning
Posted: 10/13/06
Good stewardship demands proper estate planning
By Ken Camp
Managing Editor
Christians who die without making a will demonstrate poor stewardship, said Bill Arnold, president of the Texas Baptist Missions Foundation.
“If you die without a will, I guarantee your family will not rise up and call you blessed,” said Arnold, a certified financial planner. “The state of Texas has a will for you. But you probably won’t like it.”
10/16/2006 - By John Rutledge
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Lease-to-own program enables home ownership
Posted: 10/13/06
Lease-to-own program enables home ownership
By Barbara Bedrick
Texas Baptist Communications
DALLAS—By Christmas, some Texas families may celebrate the season by making plans to move into a new home, thanks to an innovative lease-to-own program involving the Baptist General Convention of Texas.
The partnership between the BGCT and the Community Empower home ownership counseling network—along with CitiMortgage and Ebby Halliday Realtors—provides an 18-month new-home lease to potential homebuyers.
10/16/2006 - By John Rutledge
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Prosperity gospel promises material blessings to faithful
Posted: 10/13/06
Prosperity gospel promises
material blessings to faithfulBy Ken Camp
Managing Editor
A recent TIME magazine cover story raised the question: “Does God want you to be rich?” The answer from many pulpits, best-selling books and television evangelists seems to be, “Not only rich, but healthy and happy, too.” The implications of that response trouble some Baptist pastors, theologians and ethicists.
The prosperity gospel—also known as “name it and claim it,” “word of faith,” “positive confession” or “seed-faith” theology—teaches that God wants his children to prosper and be in good health. It calls on followers to step out by faith and claim the prosperity that is the birthright of every Christian.
10/16/2006 - By John Rutledge
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Strategy for lowering credit card debt
Posted: 10/16/06
Strategy for lowering credit card debt
By Mike Harris
The number one rule to reduce debt is “keep hope alive.” One important way to do this is to deal with the sense of guilt involved with having debt in the first place. It’s important to note that many of God’s finest people struggle with debt. According to The Dallas Morning News, the average student loan debt for a new pastor coming from seminary in 2001 was $25,018. If you have debt, you have a lot of company. We often start behind, and it is hard to catch up, especially for those in ministry. You have to be brave to even start addressing this issue.
A second way to keep hope alive is to tally all your debts. List the company’s name, balance, interest rate and monthly payment. Circle the lowest balance. Make it your first victim. Pay the other accounts their minimums and put all extra debt reduction efforts into paying off this account. When it is paid off, use this extra amount towards your next lowest balance. Within a matter of months you will reduce the number of bills.
10/16/2006 - By John Rutledge
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How to cope with high energy costs
Posted: 10/16/06
How to cope with high energy costs
By Roy Hayhurst
The arrival of your monthly electric bill can be a tough experience as energy prices continue to rise around the country. Instead of complaining about the rising costs of energy at your home, church or school, there are simple steps you can take to mitigate these escalating expenses. Among the steps:
Turn off the lights. According to the Energy Department, “only about 10%–15% of the electricity that incandescent lights consume results in light — the rest is turned into heat.” That means if you have incandescent lights, turn them off anytime they are not in use — not only will it save electricity costs, but it will help keep a room cooler.
Consider replacing your incandescent light bulbs with compact fluorescent lights. Compact fluorescent bulbs are more expensive — costing 10–20 times more than incandescent bulbs — but last 10–15 times longer. They also produce the same light as incandescent bulbs that need 3–4 times the wattage and most fit in your existing light fixtures with little or no modification.
10/16/2006 - By John Rutledge
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Are 401(k) & 403(b) Roth contributions right for you?
Posted: 10/16/06
Are 401(k) & 403(b) Roth
contributions right for you?By Sherre Stepehens
Starting this year, your employer may add a 401(k) or 403(b) Roth contribution to its retirement plan, but is this option right for you? It depends. Consider the following key points.
Eligibility. Roth IRAs are not available to higher income taxpayers; however, income limitations do not apply to 401(k) or 403(b) Roth contributions. If you are eligible to make elective deferrals, you are eligible to make Roth contributions.
Taxes. Which is more valuable to you, paying taxes now or later? If you are in a very low tax bracket now and expect to be in a higher tax bracket in the future, or you have many years ahead to contribute and accumulate earnings, a 401(k) or 403(b) Roth contribution may be beneficial. Decades of compounding earnings can result in significant accumulations and tax-free distributions can provide more purchasing power during retirement years.
10/16/2006 - By John Rutledge
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How to opt in to medicare coverage
Posted: 10/16/06
How to opt in to medicare coverage
By Sherre Stephens
Those who opt out of Social Security coverage often reconsider this decision later in life due to the lack of Medicare coverage. Under current rules, here is a summary of how to opt into Medicare coverage at age 65.
Eligibility for Medicare Part A (hospital insurance)
There is no premium if you or your spouse has 40 or more quarters of coverage, age 65, and a citizen or lawfully permanent resident of the United States. However, if you have insufficient quarter of coverage, you can buy Medicare Part A coverage as follows:
10/16/2006 - By John Rutledge
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RIGHT or WRONG? Church-state separation
Posted: 10/13/06
RIGHT or WRONG?
Church-state separationI’ve heard that if the First Amendment were up for a vote, it would not pass and many Baptists would lead the charge against it. But my understanding is that separation of church and state—which the First Amendment protects—is a traditional Baptist tenet. So, how can we re-establish Baptist support for church-state separation?
Why would any Baptist want to overturn the First Amendment? I cannot imagine any Baptist inviting government oversight of our preaching and worship services, so I don’t believe any would want to discard the Free Exercise Clause, which denies Congress the power to “prohibit the free exercise” of religion. Some, however, want to at least modify the Establishment Clause, which prohibits Congress from establishing religion as a state project. Why? Clearly some Baptists want to use the power of the state to reassert a religious influence in our land in hope that such an influence would stem the tide of what they consider to be the serious moral decline of our culture.
Concern for such moral decline is well founded. The question, though, is whether such a strategy for moral transformation is either appropriate or effective. Until recently, the dominant Baptist answer to this has been a resounding “No!” Any reassertion of this traditional Baptist outlook will come through courageous pastors and adult Sunday school leaders who will have to counter powerful voices that have influenced many Christians through various media channels.
10/13/2006 - By John Rutledge
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together_51903
Posted: 5/19/03
TOGETHER:
Changed lives change lives of othersIntentional evangelism is one of the 11 characteristics of a healthy church. Jesus sent his disciples into the lost world announcing the Good News of the kingdom of God. When you are lost and have no idea of the way home, the very best news in all the Earth is when someone calls out, “Follow me, and I will take you home.”
CHARLES WADE
Executive Director
BGCT Executive Board
We all love John 3:16, with its declaration that God loves us so much he wants to spend eternity with us. Have you also noticed the spirit of John 3:17? “For God did not send his Son into the world to condemn the world, but to save the world through him.” The whole life of Jesus bears out that spirit. He lifted up every person who came to him. He welcomed all who approached. His condemnation rested upon those who, in their self-righteousness, felt they needed no repentance and counted themselves better than others. They built walls instead of bridges.
As I call you to consider the importance of evangelism in your local church, I have to also remind you of a specific warning from Jesus: “Woe to you, teachers of the law and Pharisees, you hypocrites! You travel over land and sea to win a single convert, and when he becomes one, you make him twice as much a son of hell as you are” (Matthew 23:15). This frightening warning is not to discourage us from bearing witness and inviting people to become disciples of Christ. It reminds us that we must help people come to Christ and enroll in his school of discipleship, not become clones of us.
10/13/2006 - By John Rutledge
