How are you dealing with this crazy economy?

How are you dealing with this massive economic downturn? Right now the markets and our economy seem to be spinning out of control. The Dow has now dropped over 30% from what it was just a year ago.

For someone like me who is moving from one financial season of life (accumulating assets) to the next financial season of life (living on the accumulating assets) these economic times can be very disheartening and unnerving.

I believe that God uses money (and investments) to teach us. Let me share with you three lessons I am (re)learning as we go through these times. I would really like to hear from you:

Trust God not money. Proverbs 23:5 says “When you set your eyes on it, it is gone. For wealth certainly makes itself wings like and eagle that flies toward the heavens”. Isn’t it sad that we go through life and learn to trust God, but when we get to our last financial season we find ourselves trusting our portfolio, pension or social security?

God is faithful. Lamentations 3:22-23 says “The Lord’s lovingkindness indeed never cease, nor His compassions never fail. They are new every morning; Great is Your faithfulness” This is where our security lies, not in the financial markets of the world.

Invest for the long term. Proverbs 21:5 says “The plans of the diligent lead surely to advantage, but everyone who is hasty comes surely to poverty”. Looking at the long term history of the stock market, it goes up. The last 50 years have seen an average of 10% growth per year. Individual years have seen declines but historically the stock market recovers.

I would be very interested to hear of what lessons you are (re)learning and what changes you are making as you deal with these financial uncertain times.