I wrote a post in which I referenced the “50% of AGI Barrier.” I realized maybe some of my readers would be unaware of what I was talking about.

First of all, a definition.

AGI is Adjusted Gross Income–the basic number on which the IRS calculates your income tax.

The “50% Barrier” refers to the fact that the US tax code permits you to give up to 50% of your AGI to approved charities and claim a deduction. Gifts beyond 50% of AGI can be carried forward for deduction in the future–up to five years.

A great benefit, indeed. However . . . Read the rest of this entry »

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Below, you will find a portion of one of two videos we’ve seen from Bob Coy.

It matches what I just wrote about last night.

Actually, now that I think of it, Read the rest of this entry »

I think I caught the meaning of something I have heard before, but never quite understood. As it is beginning to sink in, I think it may be revolutionary . . . because it provides clarity for some fundamental financial decision-making.

Specifically, here’s the phrase:

It all belongs to God. Now, how much does He want me to keep for myself?

Read the rest of this entry »

I’ve gotten into some fairly philosophical discussions with our professional legacy planner. As a result, several months ago–I didn’t know at the time whether he was seeking merely to be provocative or whether he was really serious, but–he said he is opposed to ministers who teach the concept of tithing. He said he thinks such teaching holds too many wealthy Christians back from giving more.

Since then, I have come to realize he is actually very serious in the matter. And a month or two ago he sent me a note in which he said he believes “the concept of tithing as taught in the Old Testament does not apply to New Testament Christians in any way and is nowhere endorsed in the New Testament as a basis for giving.”

For some initial food for thought, he said, he thought I would enjoy reading some “very scholarly papers on the subject”: “Will a Man Rob God?” (Malachi 3:8): A Study of Tithing in the Old and New Testaments, Part I and Part II by Andreas Köstenberger and David Croteau.

“I’ll enjoy the dialog with you after you get a chance to digest all this material,” he wrote.

Just what I need–more “material” to digest! I’ve got thousands of books sitting on shelves in front of me still needing to be read!

But this guy impacts a lot of people, and he’s trying to influence me, so I thought I’d better read up on the subject. I finally completed the assignment while on vacation the last couple of weeks, and I wrote back.

I, too, have some severe concerns about tithing, but of a very different nature, I expect, from his. Read the rest of this entry »

I’ve already read Jay Link’s Family Wealth Counseling.

He’s issued a clarion call to pay attention not only to the financial aspects of an estate plan or legacy plan, but, I would say, he calls our attention even more to the social and spiritual/emotional issues related to one’s . . . lifetime legacy.

I chose those last two words carefully.

I think we aren’t normally challenged to think in terms of our lives when it comes to estate planning. We are led to think in terms of death, dying, and what happens after our lives are over.

Link, by contrast, calls us to Read the rest of this entry »

You know about investment portfolio management. And I’m sure you take time to ensure you invest wisely for financial returns. But what about eternal rewards? Read the rest of this entry »