Potencial Millonario Radio- Ep 02
How Scripture Instructs Us To Act With Money
By Felix A. Montelara
This week in my radio program I will discuss the importance of having an emergency fund, which is a separate savings account that is only used for emergencies. This is not just because it makes good personal financial sense. Saving your money is good advice found in the Bible as well. Proverbs 13:11 states “Dishonest money dwindles away, but whoever gathers money little by little makes it grow.” This passage deals with two aspects of money management: how you earn your money and how you save it.
First, how is your money earned- or is it earned at all? Methods of earning, gaining, or extorting money that involve lying, cheating or stealing will result in an eventual loss of this money. Ill-gotten gains will seldom make one rich, especially in the sense of spiritual richness or richness of life that I have discussed in earlier posts. Money is a means of paying for material things: utilities, homes, clothing, etc. It will not make a person happy by itself. Accruing money dishonestly or using money at the expense of others will result in a negative impact on a person’s life. This negative impact may not be immediately apparent; but someday, somehow, what goes around comes around.
This Scripture instructs us to gain money the right way- little by little, saving up, hard work, and honest means. This may be interpreted as working and saving a portion of your income more diligently, or it could mean carefully making a budget so you can stop wasting your money on unnecessary things. Many families with money problems actually earn enough- they are just unaware of how they are wasting their money. For example, do you know how much you spend on coffee, vending machine snacks, or personal appearance products each month? Could some of that money be saved instead? You would be surprised how much money you waste. This is why it is so important to make an honest budget and to really be aware of all of your expenditures each month. It is likely that each of us could be richer each month if we chose to save rather than waste.
As Proverbs tells us- those who strive to use money carefully and wisely will be rewarded. The reward for the careful gatherer of money is that it will grow. When you begin your savings account, it may seem painfully small. But the Bible encourages us to keep working at it. With time, the savings will grow. God may reward your diligence and care with other positive outcomes as well- but you will never reap those benefits unless you begin the correct way.
I encourage everyone to take a look at how you earn your money and how you save it. You can’t begin an emergency fund or savings account until you understand where your money comes from and where it goes. Keep in mind that as Proverbs says, “whoever gathers money little by little makes it grow.” There is no shame in saving a dollar here or there, if that is all you can afford. Be proud of yourself for gathering that dollar, caring for it, and storing it away. This is how your money will grow, and this is how Scripture instructs us to act.
I hope you have enjoyed it.
Felix A. Montelara
Auhor: Potencial Millonario
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Mañana nuevo episodio de Potencial Millonario
Mañana, Sábado a la 8:00 am estará disponible el episodio mas reciente de Potencial Millonario. No se pierda el tema del fondo de emergencia y el segmento “Alguien a quien usted debe conocer.” Biografía de un millonario…
Y si tiene alguna sugerencia de algún millonario, empresario y persona destacada de su país déjeme su información al 334 357 6410 o envíeme un mensaje a fmontelara@potencialmillonario.com
Espero que lo disfruten.
Felix A. Montelara
Autor: Potencial Millonario (the Book)
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Escuche- Potencial Millonario (Episodio 01)
Todos los Sábados habrá otro episodio nuevo disponible del programa.
- WIQR Radio Bama 1410 am
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New Terrestrial Radio Show “Potencial Millonario”
Potencial Millonario has grown into a radio broadcast at WIQR 1410 am Radio Bama every Saturday @ 0800 hours. Episode 01 will be available ASAP. More information to follow.
Best regards,
Felix A. Montelara
Author: Potencial Millonario
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How Brazil’s Richest Man Lost $34.5 Billion
Stay tune to this story it will take some time but Eike Batista will rise again.
Felix A. Montelara
Author: Potencial Millonario
—Reuters- OGX, the Brazilian oil company controlled by former billionaire Eike Batista, sought court protection from creditors on Wednesday in Latin America’s largest-ever corporate bankruptcy filing.
The bankruptcy protection request, which was confirmed by the court in Rio de Janeiro, came after OGX failed to reach an agreement with creditors to renegotiate part of its $5.1 billion debt load.
Jonathan Alcorn | Bloomberg | Getty Images
Eike Batista, chief executive officer of EBX Group Co. Ltd.
It also is another chapter in the unraveling of Batista’s once high-flying industrial empire, which he has been dismantling in recent months after disappointing output from offshore OGX wells set off a crisis of investor confidence.
If the court approves the request, OGX will have 60 days to come up with a corporate restructuring plan. The company’s creditors, which include the California-based bond fund Pacific Investment Management Co (Pimco), and U.S.-based investment fund BlackRock, will then have 30 days to endorse or reject the plan.
Officials at OGX and EBX, Batista’s holding company, did not immediately respond to telephone calls and emails seeking comment.
An OGX bankruptcy is unlikely to have a significant effect on Brazil‘s economy. The company is barely out of its start-up phase and produces almost no crude oil, and most if its debt is held by foreign bondholders. But the fate of sister company OSX Brasil depends almost entirely on OGX, whose market value has plummeted by nearly $45 billion since its stock peaked in October 2010.
Eike Batista under investigation by Brazilian regulators
Brazilian oil tycoon Eike Batista set a record for wealth loss, reports CNBC’s Robert Frank. Between 2012 and 2013, Batista lost over $33 billion in paper wealth.
Batista created OSX, which had to scale back efforts to construct the largest shipyard in the Southern Hemisphere, to build and lease oil production and service vessels to OGX.
A renowned dealmaker who once boasted he was on track to become the world’s richest man, 56-year-old Batista has seen his personal fortune reduced by over $30 billion in the last 18 months as investors punished the share price of his listed companies.
The downward spiral forced Batista to start breaking up his Grupo EBX conglomerate, which also included a port operator, mining and energy interests, and an entertainment company.
Batista’s rapid decline has become a symbol of Brazil’s own economic troubles. After a decade-long boom in which investors poured cash into Brazil and Batista’s enterprises, Latin America’s largest economy has been in a rut for nearly three years, frustrating predictions that the country was poised to join the ranks of developed nations.
OGX’s decision to seek protection from creditors came as no surprise. After missing a $44.5 million interest payment owed to bondholders on Oct. 1, OGX scrambled to restructure its debt before the end of a 30-day grace period or be declared in default on $3.6 billion in bonds.
The process was rocky from the outset, and OGX called off the talks with creditors on Tuesday, leaving a bankruptcy filing as the only viable option to buy more time in its quest to save the company.
Related articles
- UPDATE 2-Batista’s OGX files for bankruptcy protection in Brazil (uk.reuters.com)
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Puerto Rico Invita Millonarios a Cambiar de Residencia
By Felix A. Montelara
Autor: Potencial Millonario
Antes se consideraba un paraíso de vacaciones , la pequeña isla de Puerto Rico está tratando de llevar a los ricos a vivir allí de forma permanente. A principios de este año , el Secretario de Desarrollo Económico y Comercio, Alberto Baco Bague , viajó a Nueva York para explicarle a los ricos todos de los beneficios que Puerto Rico tiene para ofrecer.
Un artículo escrito por Dan Bobkoff (npr.org) explica los esfuerzos del gobierno de Puerto Rico: “Bajo las leyes promulgadas en 2012, cuando una persona se muda a la isla, todos los ingresos por inversiones de esa persona, al igual que las ganancias de capital, dividendos y los como – es completamente libre de impuestos… Y, como lo es para todos los residentes de Puerto Rico, alli es no hay impuesto sobre la renta federal.” Ademas, Sr. Bobkoff dice que “las reglas dicen que usted debe vivir en Puerto Rico por lo menos 183 días al año y demostrar que usted es realmente parte de la comunidad. Su cónyuge debe vivir con usted, y sus hijos deben ir a las escuelas locales “.
El gobierno de Puerto Rico es el lanzamiento de este esfuerzo con la esperanza de estimular la difícil situación económica de este territorio de los EE.UU.. Según el artículo, los sentimientos acerca de los beneficios dados a estas nuevas elites es mixta, que van desde el desconocimiento de las nuevas leyes a de resentimiento. Mientras que traer a los ricos a la isla se piensa para traer más industria, el empleo y opportunidades a los locales, existe un cierto riesgo político en el tratamiento de esta nueva clase diferente a la ciudadanía local.
Puedes ver el artículo completo en http://www.npr.org/2013/06/28/195152925/puerto-rico-rolling-out-the-welcome-mat-for-millionaires (en Inglés).
Me encantaría tener sus pensamientos sobre este tema. ¿Crees que este tipo de táctica es beneficioso para Puerto Rico? ¿Cómo te sentirías si tuvieras que pagar impuestos locales y los ricos no? ¿Valdría la pena que a la economía? Llámame o envíame un email con tus pensamientos!
Related articles
- Little Puerto Rico (thetruthshouldbefree.wordpress.com)
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Puerto Rico Invites Millionaires to Relocate
By Felix A. Montelara
Author: Potential Millionaire
Once thought of as a vacation paradise, the little island of Puerto Rico is now attempting to bring the rich and wealthy to live there- permanently. Earlier this year, the Secretary of Economic Development and Commerce, Alberto Baco Bague, travelled to New York City to explain to rich stock brokers the benefits that Puerto Rico has to offer.
An article on npr.org written by Dan Bobkoff explains the efforts of the Puerto Rican government to entice millionaires: “Under laws enacted in 2012, when someone moves to the island, all of that person’s investment income, like capital gains, dividends and the like — is completely tax-free. Plus, service income — say, a hedge fund’s management fees, is taxed at just 4 percent. And, as it is for all Puerto Rico residents, there’s no federal income tax.” Mr. Bobkoff continues that in order “to take advantage of the tax breaks, the rules say you must live in Puerto Rico at least 183 days a year and prove that you’re really part of the community. Your spouse must live with you, and your kids must go to local schools.”
The government of Puerto Rico is launching this effort in hopes of stimulating the difficult economic situation in this U.S. territory. According to the article, feelings about the breaks given to these new elite are mixed, ranging from ignorance of the new laws to resentment. While bringing the rich to the island is thought to bring more industry, jobs, and opportunities to locals, there is some political danger in treating this new class differently than the local citizenry.
You can view the whole article at http://www.npr.org/2013/06/28/195152925/puerto-rico-rolling-out-the-welcome-mat-for-millionaires (in english).
I would love to have your thoughts about this issue. Do you think this type of tactic is beneficial to Puerto Rico, or any other country or city? How would you feel if you had to pay local taxes and the newly invited rich didn’t? Would it be worth it to economy? Call me or email me your thoughts!
Related articles
- Tax Heaven For Millionaires – Puerto Rico (potencialmillonario.com)
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Is it Christian to want to be a millionaire?
By Felix A. Montelara, Author: Potencial Millonario
This is a question that has come up in my email and phone conversations. If a Christian wants to be rich, is he or she serving two masters? We are all familiar with the Biblical texts (for example Luke 16:13) which council that we cannot serve two masters, and if we try we will end up taking sides: pitting one against the other in our hearts and actions. With this strict advice and warning, we must be careful to examine just what we are doing when we strive to fulfill the Potential Millionaire in all of us.
Let me make it clear: I do not want you to serve God and money. I want you to serve God, and let your money serve you. I firmly believe that God sets before all of us wonderful opportunities every day, and these opportunities can lead us to great wealth and well-being. We must recognize them, choose them, and be thankful to God for them. The personal finance strategies that I recommend and employ are really stewardship principles, in which I am helping you recognize, understand, and avail yourselves of the opportunities that God sets before you every day. It is through this process that we all realize the Potential Millionaire status that God sets at our table- we must choose His blessings in order to manifest this lifestyle for ourselves. By serving God, by making him number one in our lives, we become aware of his teachings, blessings, and actions in our lives. That’s when doors start opening in our financial future.
Money is a gift from God, and we must make it serve us in a God-like way. We must never become greedy, take what is not ours, or act at the expense of others. Money is a powerful tool with which to serve others, help those less fortunate than us, and spread the Word of God.
Related articles
- GROW in His Word: Matthew 25:40 (dollybigelow.wordpress.com)
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How Do I Build A Million Dollar TSP Account?
Mike Causey’s Federal Report
Here’s how to do it:
- Invest the maximum amount you are allowed (so you get the 5 percent government match) in the Thrift Savings Plan.
- Pick the right fund (or combination of funds). Stick with them, except when you need to change.
- Stir occassionaly for 20 to 30 years and wham, bam, you are a millionaire.
It’s been done. Seventy five current feds have TSP accounts worth a million or more, although most did it via the rollover route. .
So is the road to riches the stock market-index funds? It can be a bumpy ride taking you up and down depending on war, weather, economic conditions, the price of oil and even volcanoes in Iceland. Throw in the occasional asteroid strike to make it interesting.
Or do you get rich by playing it safe and sticking with the G-fund which invested in special U.S. Treasury securities that are not available to people outside the TSP? Its payoff is never heart-pounding exciting, but it has never had a loss.
Mike, an employee of the Department of Veterans Affairs takes the slow-but-sure approach. “Becoming a TSP millionaire can be done with zero risk strictly through investing in the G fund,” he says. “There is no need to invest in the risky C, S, and I funds. Just contribute the max each year (currently $16,500) and over a 30 year career you will exceed a million.”
Over the last 10 years the G-fund and the much-neglected F-fund (bonds) have outperformed the stock-index C, S and I funds. But when the CSIs have a good year (like 30 percent returns) it can be avery good year.
