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StewardshipStewardship by Bob Chism, CAM by Bob Chism, CAM
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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 based70% of Americans die without a will or trust Nearly half (46%) of all Americans have less
than $10,000 saved for their retirement53% 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
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Stewardship Stewardship A 100% ConceptA 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.
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StewardshipStewardshipFinances God’s WayFinances God’s WayConcept of Cash Flow Margin
Taxes (Income, Social Security, Medicare) Spending Guidelines
Emergency FundNo Debt, except Mortgage
Insurance Coverage Identity Theft ProtectionInvestment Philosophy
College FundingEarly Mortgage Pay-off
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Stewardship
Finances God’s Way
Cash Flow MarginCash Flow Margin““Never spend more than you earn”Never spend more than you earn”
Always pay taxes and give charitable gifts Always pay taxes and give charitable gifts first, first,
then live on what is left. then live on what is left. Dr Richard A Swenson
Compound Interest is either a powerful Compound Interest is either a powerful Foe (Debt) Or Friend (Investment)!Foe (Debt) Or Friend (Investment)!
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StewardshipFinances 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!
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100% of Benefits until 203778% of Benefits until 208775% of Benefits after 2087
2010 “Best Estimate” (Without Any Change)SSA Annual Trustee Report National Academy
of Social Insurance
StewardshipFinances God’s Way
Social Security Benefits
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StewardshipFinances God’s WaySpending Guidelines
Charitable Giving 10-15% Saving / Investing 5-10 Housing 25-35Utilities 5-10Food 5-10Transportation 10-15Clothing 2-7Medical/Health 5-10Personal 5-10Recreation 5-10 Dave Ramsey’s FPU
Refer to Your Spending Guide for additionalInformation.
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StewardshipFinances God’s Way
Emergency FundEmergency 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
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StewardshipStewardshipFinances God’s WayFinances God’s Way
Eliminate Debt Pray for Holy Spirit’s help and guidance.Pray for Holy Spirit’s help and guidance.
Allow no more debt. no more debt. Destroy all credit cards. Destroy all credit cards.
Pay cash, sacrifice wants and desires Pay cash, sacrifice wants and desires until debt current.until debt current.
List assets to evaluate whether to sell List assets to evaluate whether to sell for debt reduction.for debt reduction.
Contact all creditors and arrange a repayment plan. Contact all creditors and arrange a repayment plan. The average family can be debt free in three years.The average family can be debt free in three years.
Crown Financial MinistriesCrown Financial Ministries
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StewardshipStewardshipFinances God’s WayFinances God’s Way
TransportationDrive 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
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StewardshipFinances God’s WayInsurance Coverage
Life Disability
Health Auto & Home
Identity Theft ProtectionLong-Term Care
Refer to Dave Ramsey’s Insurance Do's & Don'ts for additional information.
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StewardshipFinances 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 Reportfor additional information.
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StewardshipFinances 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 FPURefer to Dave Ramsey’s Investment Philosophy for additional information.
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StewardshipStewardshipEstate PlanningEstate Planning
The Four P’s Estate Planning The Four P’s Estate Planning Family ConferenceFamily Conference
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StewardshipStewardship
Estate PlanningEstate Planning People InventoryPeople Inventory
This section contains data on the people of your This section contains data on the people of your estate plan; family members (husband, wife, aged estate plan; family members (husband, wife, aged
parents, adult children, grand kids), other parents, adult children, grand kids), other individuals, and charitable organizations who are a individuals, and charitable organizations who are a
part of your estate distribution.part of your estate distribution.
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StewardshipStewardshipEstate PlanningEstate Planning
Property InventoryProperty InventoryProvide Property Ownership Type!Provide Property Ownership Type!
Accounts, Certificates, FundsAccounts, Certificates, FundsReal EstateReal Estate
Life InsuranceLife InsuranceRetirement/Employee BenefitsRetirement/Employee Benefits
Business InterestBusiness InterestMiscellaneous AssetsMiscellaneous Assets
LiabilitiesLiabilitiesFederal Income Tax InformationFederal Income Tax Information
Vital RecordsVital Records
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StewardshipStewardshipEstate PlanningEstate Planning Plan InventoryPlan Inventory
Will Durable Power of Attorney
Medical Living WillMedical DPA
TrustLetter of Instructions (LOI)
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StewardshipStewardshipEstate PlanningEstate Planning Will BenefitsWill Benefits
Opportunity for your testimony as a prefaceMaking sure your assets go where you want
them to goControlling assets while you are alive
but incapacitatedControlling assets after death
Providing provisions for a guardian of minor childrenMinimizing heirs emotional and financial burden
Minimizing taxes and increasing the amount available for charitable donations
Avoiding the cost and delay of probate
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StewardshipEstate 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 moneyEnsure that a person’s assets go to their children
rather than the surviving spouse’s childrenfrom a previous marriage
Assist a disabled child without disqualifying government assistance
Reduce income taxes, providing income and leaving more
Protect assets from creditorsReduce the cost and public exposure of probateControl the inheritance for a troublesome heir,
while avoiding ill feelings toward the estate owner and toward those who inherit
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StewardshipEstate Planning
LOI BenefitsThe location of important papers and keys
to lock box or containersContact information for your insurance policies
including MedicareFinancial statement listing your accounts
and any outstanding loansPersons to contact such as relatives, friends
and advisersAn obituary listing your name as you wish it written,
including nicknames, place and date of birth, immediate relatives with noteworthy
accomplishmentsType of funeral preferred and any prearrangements
made with the funeral home and/or minister
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StewardshipEstate Planning
Planners InventoryName, Email Address, Telephone, Street
Address Attorney
Financial PlannerInsurance Agent
Human Resource PersonPreferred Physicians
Spiritual Leader
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StewardshipEstate Planning
Family Conference
An opportunity to share personal testimonyMinimize family anxiety about your wishes
Smoothes the passing of estate assetsSoftens any inheritance discomfort or quilt
Overviews basic documents & locationsCreates opportunity to listen for concerns, particularly regarding any personal property
Gives opportunity to response to requests
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StewardshipStewardshipAvailable DocumentsAvailable Documents
Your Family BudgetDave Ramsey’s Insurance Do's & Don'ts
Crown Financial Ministries Identity Theft ReportDave Ramsey’s Investment Philosophy
Your Estate Planning & Gift Guide
Robert W Chism1513 Eagle Ridge Drive
Antioch, IL 60002847-395-1626
StewardshipStewardshipAbout Bob ChismAbout Bob Chism
Bob is the creator ofBob is the creator of New Beginnings New Beginnings (gonewbeginnings.org)(gonewbeginnings.org),, a personal website a personal website dedicated to seeking, sharing, and serving dedicated to seeking, sharing, and serving
second halfers.second halfers.He is Certified in Aging Ministries (CAM) by the He is Certified in Aging Ministries (CAM) by the
Center for Christian Leadership, Anderson Center for Christian Leadership, Anderson University School of Theology in Indiana. University School of Theology in Indiana.
He is a member of Village Church of Gurnee in He is a member of Village Church of Gurnee in Illinois and Christ Together of Lake County Illinois and Christ Together of Lake County
Illinois as well as a contributor to CASA Illinois as well as a contributor to CASA Network and YES. Network and YES. Bob had a four decade career in finance& strategic Bob had a four decade career in finance& strategic
planning, and was a Certified Public Accountant planning, and was a Certified Public Accountant (CPA) in Ohio and Illinois. He is a graduate of (CPA) in Ohio and Illinois. He is a graduate of BowlingBowling Green and Northwestern Universities. Green and Northwestern Universities.
Married 48 years to Karen June Bartel of Euclid, Married 48 years to Karen June Bartel of Euclid, Ohio, he has five adult children, including two Ohio, he has five adult children, including two sons in laws, and seven grandkids. sons in laws, and seven grandkids.