Finding Financial Freedom. PART 1
Trust not in oppression, and become not vain in robbery: if riches increase, set not your heart upon them. Psalm 62:10
“A father gave his little girl two dollars and said, “You can do anything you want with one of the dollars, but the other dollar belongs to God.” With joy she ran to the candy store. On the way she tripped and one dollar fell into the storm drain. She got up and said, “Well Lord, there goes Your dollar.” -Min127
Last time, we learned in 1 Peter about our inheritance and tremendous wealth we have in Jesus. Sadly, we can be so focused what we do not have (by way of material things) that we lose sight of how the Lord has blessed us.
Others are not good stewards of what God has entrusted. I would like to bring a message today to help you go beyond “scratching out” a living and living “pay check to pay check.”
These Bible principles when faithfully followed will change your financial situation and enable you to use your earthly money for heavenly good.
Making more money is not the issue…
“A very large number (78%) of former NFL players are broke or financially stressed after retirement, and 60% of former NBA players go broke five years after retiring, according to Sports Illustrated.”
They go on to say: “Broke athletes are practically an epidemic.” The following data is quoted from: http://www.businesspundit.com/25-rich-athletes-who-went-broke/26/
4-time Heavyweight Champion of the World
Estimated lifetime earnings: $250 million
He had a deal with Diet Coke, a video game, the “Real deal” record label, the “Real Deal” grill, and appeared in numerous TV appearances and 3 films. Then, there was the dancing thing. One wonders how Holyfied had time to lose money. The answer: Children. Holyfield fathered 11 of them.
“I’m not broke; I’m just not liquid,” 45-year-old Holyfield claimed when he narrowly avoided charges that he was around $9,000 behind in court-ordered child support payments. The banks foreclosed on his $10 million-dollar home. Even a landscaping firm says the former champ owes them $500k for yard work. Ever since Tyson bit his ear off, it seems everyone wants a piece of the Champ.
Hall of Fame quarterback, 3-time MVP, Superbowl champion, 10-time Pro Bowl selection
Estimated lifetime earnings: $4 million
Widely considered one the best pro football QBs of all time, Johnny Unitas set several records that may never be beaten on the football field, like 47 games with a touchdown pass in a row.
He starred in professional football before salaries were measured in millions. His yearly contracts ranged from $7,000, his first in 1956 with the Colts, to $250,000 plus a $175,000 bonus in his last one with the San Diego Chargers in 1973.
After his playing days, he made some money as a TV commentator for CBS. He also invested in tanked business ventures, including a chain of bowling establishments, a prime-rib restaurant, an air-freight company, and Florida real estate investment. He and his wife, Sandra Unitas, filed for personal bankruptcy protection in 1991 after investing in a failed Reisterstown circuit-board manufacturer. He died 11 years later with a lawsuit from his estate hanging over all of his businesses.
All Star, 6 NBA championships
Estimated lifetime earnings: $120 Million
Pippen unsuccessfully sued his former law firm for losing $27 million of his money through poor investments. (He had earned about $110 million in salary alone over a 17-year career.) In February 2007—around the same time as Pippen’s failed NBA comeback attempt—the Missouri Court of Appeals upheld a ruling that the player owed U.S. Bank more than $5 million in principal, interest and attorneys’ fees from a dispute regarding a Grumman Gulfstream II corporate jet that he had purchased in 2001.
Four-time NBA All Star; last played for the Timberwolves
Estimated lifetime earnings: $50 million
This 13-year NBA veteran turned down the Timberwolves’ $21 million offer to extend his contract for three years because the sum was too low. A mere three years later, federal agents repossessed Sprewell’s yacht, on which he still owed $1.3 million. That was just the beginning. In early 2008, Sprewell defaulted on a $1.5 million mortgage, lost his home to foreclosure, stopped paying his motorsports’ company’s bills, and then defaulted on another home loan, this one worth $10 million.
#1 overall pick NFL Draft, 3x Pro Bowl QB for the Atlanta Falcons
Estimated lifetime earnings: More than $130 million
Undisputed heavyweight boxing champion of the world, youngest man to ever win the WBC, WBA and IBF Heavyweight Titles. First man to win 12 of his first 19 fights in the first round by KO.
Estimated lifetime earnings: $300-400 million
At one point, Tyson was worth less that $700 dollars. But his situation has improved. He appears to be doing well in recovery for drug and alcohol problems.
(Data quoted from: http://www.businesspundit.com/25-rich-athletes-who-went-broke/26/)
Financial discipline is needed, no matter how much money you make.
Come back next week for the next article…