Opportunities in the Midst of a Financial Crisis Unlike Any We

Have Seen in our Lifetime

English Speaking Chinese Ministerial

Winston Ling – April 1, 2009

The Economy

What led to the credit crisis?

• Consumers – low interest rate and rising house prices.

• Lenders – flush with cash and lending standards lowered.

• Investors – seeking larger yields and compromised on risk.

The Economy

What started the credit crisis?

• New buyers for houses stopped.

• Mortgage investment losses grew.

• Lost faith in financial system.

Opportunities

• Advantage back to investors – asset prices now substantially lower.

• Young adults under 35 have great opportunity to recover from market losses.

• Low interest rates on loans.• New and used cars – bargains.• Businesses that are growing – books,

McDonald’s and movies.

Personal

Sound Financial Principles

• Spending more than you make.

• Start habit of saving.

• Always pay your credit card balance in full.

• Put larger down payment on house purchase – 20-50%.

Personal

Sound Financial Principles

• Avoid borrowing – other than for housing.

• Leasing is borrowing.

• Minimize payment of taxes.

Personal

Minimize Income Taxes

• Save through TFSA.

• Contribute to RRSP.

• Contribute to RESP for children – tax free grant.

• Invest in principal residence.

Personal

Minimize Income Taxes

• Self employment.

• Shifting income to family members.

• Gifts to charities.

Personal

Investing Guidelines

• Don’t try to hit a home run.

• Don’t invest on impulse.

• Don’t let others make decisions for you.

• Diversify and manage risks.

Church

Mission & Vision

• Stick with the message.

• Make it clear and intentional.

• What is God calling us to be?

Church

Helping the Unemployed

• Support group.

• Spiritual and emotional help.

• Resume writing.

Church

Helping the Unemployed

• Employment – networking and spending time with people.

• Ask members for help to provide work.

• Personal budget – financial help.

Church

Finances

• Budget – intentional

• Budget – stewardship

• Capital project – does it fit the mission and vision?

• Pastor’s remuneration – adequate?

Poor

Who are they?

• Homeless – houseless

• Poor – poverty

Poor

What do we do? – Less effective

• Give them money.

• Handout.

• No accountability

Poor

What do we do? – More effective

• Volunteer with organizations serving the poor – YSM or TCM.

• Study scripture – over 2,000 references – over 400 different scripture passages that speaks of God’s passion for the poor.

Poor

What do we do? – More effective

• Pulpit time – poor, compassion and justice.

• Research current studies online: – United Way – Poverty by Postal Code

Poverty by Postal Code

Poverty by Postal Code

Poverty by Postal Code

Poverty by Postal Code

Poverty by Postal Code

Poverty by Postal Code

Poor

What do we do? – More effective

• Research current studies online: – University of Toronto – Centre for Urban &

Community Studies: The Three Cities within Toronto

The Three Cities within Toronto

Poor

What do we do? – More effective

• Bill & Melinda Gates Foundation – Global Development Programs.

• Start a food bank.

God’s Promise

• Provide and equip.

• All the money that is required for God’s work is already in the hands of God’s people.

God’s Promise

Do not fear the future.

God is already there.

Christian Education

• Support for all grades – elementary, high school and university.

• Is a good investment.

• Children and youth – most influential time of their lives.

Christian Education

• Society – little influence of Christianity.

• Public school system – God is not welcomed.

Tyndale

• Over 100 years old.

• Seminary – has reputation and well-known.

• University College – New, June 2003.

• Toronto’s Christian University – Liberal Arts.

Tyndale

• Critical thinkers.

• University for young people to test their faith and question everything.

• Becoming extraordinary and defy the ordinary.

• McLean’s student satisfaction survey – high ranking.