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					   Stewardship
by Bob Chism, CAM
                    1
           Stewardship
           Opportunity
 70% of consumers live from paycheck to
                   paycheck
The average family has to use a credit card
  to pay a $1,500 unexpected expense - is
                  three years
    away from a planned repayment plan
37% of marital problems are financial based
70% of Americans die without a will or trust
Nearly half (46%) of all Americans have less
   than $10,000 saved for their retirement
 53% of Christians have not given to their
   church in the last month - church giving
    has not exceeded 3% as a portion of
          income in the last 40 years




                                           2
              Stewardship
            A 100% Concept
Lifetime-God owns all things, we are His stewards. It
    is important that we use our assets to their fullest
    potential during our lifetime for self, family,
    business, and charitable interests.
Eternal-And at death, we must have arranged for the
   transfer of our assets in the most efficient and
   effective manner to individuals or charitable
   interests who will continue to use them to reflect
   our Christian life-style.




                                                           3
        Stewardship
    Finances God’s Way

     Concept of Cash Flow Margin
Taxes (Income, Social Security, Medicare)
           Spending Guidelines
             Emergency Fund
        No Debt, except Mortgage
           Insurance Coverage
         Identity Theft Protection
          Investment Philosophy
             College Funding
          Early Mortgage Pay-off




                                        4
        Stewardship
    Finances God’s Way

    Cash Flow Margin
  “Never spend more than you earn”
Always pay taxes and give charitable gifts
                   first,
        then live on what is left.
                    Dr Richard A Swenson
  Compound Interest is either a
   powerful Foe (Debt) Or Friend
          (Investment)!




                                         5
      Stewardship
  Finances God’s Way
         Taxes
                 Income
           (Federal, State, City)
              No Maximum
      Social Security $106,800 Max
 (4.2% 2011[Holiday in 2011]; 6.2% 2012)
         Medicare $106,800 Max
        (1.45% 2011;1.45% 2012)

   Estimate your income tax
withholding accurately, as refund
 checks are a poor investment!




                                           6
         Stewardship
     Finances God’s Way
   Social Security Benefits


       100% of Benefits until 2037
        78% of Benefits until 2087
       75% of Benefits after 2087
2010 “Best Estimate” (Without Any Change)
   SSA Annual Trustee Report National
        Academy of Social Insurance




                                        7
          Stewardship
      Finances God’s Way
      Spending Guidelines
Charitable Giving      10-15%
Saving / Investing       5-10
Housing                25-35
Utilities                5-10
Food                    5-10
Transportation         10-15
Clothing                 2-7
Medical/Health          5-10
Personal               5-10
Recreation              5-10 Dave Ramsey’s FPU
Refer to Your Spending Guide for additional
Information.




                                                 8
    Stewardship
Finances God’s Way
  Emergency Fund
 Emergency Fund is to help avoid debt.

$1,000 in bank (If income $20,000, $500)
Three to six months expenses in savings

                         Dave Ramsey’s FPU




                                           9
         Stewardship
     Finances God’s Way
        Eliminate Debt
     Pray for Holy Spirit’s help and guidance.
                Allow no more debt.
               Destroy all credit cards.
      Pay cash, sacrifice wants and desires
                  until debt current.
      List assets to evaluate whether to sell
                   for debt reduction.
Contact all creditors and arrange a repayment plan.
The average family can be debt free in three years.

                         Crown Financial Ministries




                                                 10
        Stewardship
    Finances God’s Way
       Transportation
   Drive Free Cars for Life


   What if you decided to stop messing with car
                        payments?
  What if you invested that old car payment every
      month instead of giving it away to the bank?
What if we showed you a six-year plan that would put
         you in free cars for the rest of your life?
   What if that plan also made you a millionaire?
Watch Dave Ramsey’s video:www.daveramsey.com/
     media/flash/elearning/drive-free/player.html




                                                  11
          Stewardship
      Finances God’s Way
      Insurance Coverage

                        Life
                     Disability
                       Health
                  Auto & Home
             Identity Theft Protection
                Long-Term Care

Refer to Dave Ramsey’s Insurance Do's & Don'ts
for additional information.




                                                 12
        Stewardship
    Finances God’s Way
  Identity Theft Protection

Purchase a plan that provides “full restoration” benefits
   which takes over all the work with creditors,
   government agencies, collectors, police, social security,
   etc. Make sure the plan covers all risks of ID Theft .
   ..not just credit related issues.
Always order your free credit report from each credit
   bureau once a year.
Take advantage of free consumer services to help reduce
   your risk.
Enroll your entire family in a plan since children are prime
   targets of Identity Thieves.

                                  The Dave Ramsey Show
Refer to Crown Financial Ministries Identity Theft Report
for additional information.




                                                            13
           Stewardship
       Finances God’s Way
      Investment Philosophy

Begin with pre-tax savings
     [in 401(k), 403(b),TSP, Traditional IRA) and tax-free
        savings (Roth IRA, Roth 401(k)].
If your employer matches your contributions to your 401(k),
        403(b), TSP, then invest up to the match.
Next, fully fund a Roth IRA for you (and your spouse, if
        married). If that still doesn't total 15% of your income,
        come back to the 401(k), 403(b) or TSP.
                                             Dave Ramsey’s FPU
Refer to Dave Ramsey’s Investment Philosophy for
additional information.




                                                               14
 Stewardship
Estate Planning



The Four P’s Estate Planning
     Family Conference




                               15
          Stewardship
        Estate Planning
        People Inventory
This section contains data on the people of your
 estate plan; family members (husband, wife, aged
     parents, adult children, grand kids), other
individuals, and charitable organizations who are a
           part of your estate distribution.




                                                 16
   Stewardship
 Estate Planning
Property Inventory
Provide Property Ownership Type!
  Accounts, Certificates, Funds
           Real Estate
          Life Insurance
  Retirement/Employee Benefits
        Business Interest
      Miscellaneous Assets
             Liabilities
 Federal Income Tax Information
          Vital Records




                                   17
  Stewardship
Estate Planning
 Plan Inventory


             Will
Durable Power of Attorney
    Medical Living Will
       Medical DPA
            Trust
Letter of Instructions (LOI)




                               18
              Stewardship
         Estate Planning
               Will Benefits

    Opportunity for your testimony as a preface
   Making sure your assets go where you want
                      them to go
       Controlling assets while you are alive
                  but incapacitated
           Controlling assets after death
Providing provisions for a guardian of minor children
  Minimizing heirs emotional and financial burden
   Minimizing taxes and increasing the amount
           available for charitable donations
       Avoiding the cost and delay of probate




                                                    19
          Stewardship
         Estate Planning
          Trust Benefits
     Manage money for an heir, too young or
                financially incompetent
  Provide continuity of management in the event
                      of incapacity
    Require an heir to meet certain standards,
such as being drug free or graduating from college,
                 in order to inherit money
 Ensure that a person’s assets go to their children
      rather than the surviving spouse’s children
              from a previous marriage
    Assist a disabled child without disqualifying
                  government assistance
     Reduce income taxes, providing income
                   and leaving more
            Protect assets from creditors
  Reduce the cost and public exposure of probate
   Control the inheritance for a troublesome heir,
 while avoiding ill feelings toward the estate owner
             and toward those who inherit




                                                  20
            Stewardship
           Estate Planning
             LOI Benefits
    The location of important papers and keys
              to lock box or containers
  Contact information for your insurance policies
                  including Medicare
     Financial statement listing your accounts
             and any outstanding loans
   Persons to contact such as relatives, friends
                     and advisers
An obituary listing your name as you wish it written,
    including nicknames, place and date of birth,
         immediate relatives with noteworthy
                    accomplishments
Type of funeral preferred and any prearrangements
     made with the funeral home and/or minister




                                                    21
         Stewardship
       Estate Planning
      Planners Inventory
Name, Email Address, Telephone, Street Address

              Attorney
         Financial Planner
         Insurance Agent
      Human Resource Person
       Preferred Physicians
          Spiritual Leader




                                                 22
    Stewardship
   Estate Planning
  Family Conference


An opportunity to share personal testimony
Minimize family anxiety about your wishes
 Smoothes the passing of estate assets
Softens any inheritance discomfort or quilt
 Overviews basic documents & locations
Creates opportunity to listen for concerns,
 particularly regarding any personal property
Gives opportunity to response to requests




                                                23
       Stewardship
   Available Documents

            Your Family Budget
   Dave Ramsey’s Insurance Do's & Don'ts
Crown Financial Ministries Identity Theft Report
   Dave Ramsey’s Investment Philosophy
     Your Estate Planning & Gift Guide
                Robert W Chism
             1513 Eagle Ridge Drive
                Antioch, IL 60002
                 847-395-1626
          chism.w.robert@comcast.net
              gonewbeginnings.org




                                                   24
            Stewardship
         About Bob Chism
Bob is the creator of New Beginnings
  (gonewbeginnings.org), a personal website
  dedicated to seeking, sharing, and serving
  second halfers.
He is Certified in Aging Ministries (CAM) by the
  Center for Christian Leadership, Anderson
  University School of Theology in Indiana.
He is a member of Village Church of Gurnee in
  Illinois and Christ Together of Lake County
  Illinois as well as a contributor to CASA
  Network and YES.
Bob had a four decade career in finance& strategic
  planning, and was a Certified Public Accountant
  (CPA) in Ohio and Illinois. He is a graduate of
  Bowling Green and Northwestern Universities.
Married 48 years to Karen June Bartel of Euclid,
  Ohio, he has five adult children, including two
  sons in laws, and seven grandkids.

				
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