A "Do-Over"
Financial Advice I Would Offer My 25-Year-Old Self
Mark Brazle

What advice would I have for my younger self working cross-culturally, you ask?  Good question!  After 16 years in disciple-making in Belgium, 20 years in church ministry, and the last seven years with MRN in Missionary Care, I have accumulated some learning that would have been useful to know "back then."  Here are some of my thoughts:

- Realize retirement for missionaries is not a fairy tale. Whether you're starting early or late, do start!  How much are you setting aside for retirement? Is that amount realistic? You may be thinking: “But I don’t have much!” I wish someone would have told me, “Set aside something each month, even if it’s just $10/month!”

- Pay attention to sound advice. “Many advisers bring success.” (Prov 15:22) So ask for help, and listen to those who have been down the road you're now traveling as well as those who have financial expertise.  Then implement what you learn!

- Develop a clear theology on money. Jesus had plenty to say about money and possessions, and we need to pay attention. “Seek the Kingdom of God above all else, and live righteously, and he will give you everything you need!” (Mt 6:33 NLT)  I believe this does NOT mean we do NOT need to save or set aside for retirement. I recommend reading Jonathan Bonk’s Missions and Money: Affluence as a Missionary Problem (2007) and Ron Sider’s Rich Christians in an Age of Hunger (rev2015) to provide some additional perspectives.

- YNAB = You Need a Budget! Dave Ramsey calls it a “spending plan.” Follow the Dave Plan! The goal: spend less than you receive.

- Reach for resources. Those now preparing and going to the field have access to basic biblical ideas from Financial Peace University (daveramsey.com) or Crown Financial Ministries (crown.org).  These offer perspectives with a Christian worldview that would have been very useful to my younger self!

- Clarify financial issues and needs with your partner churches and friends.  Don’t assume anyone in your sending church understands what you share about exchange rates or the rise and fall of the US dollar. Help them understand the impact of these issues on your current and future financial position.

• Hector Hinojosa
  Certified Financial Planner
  Hector@swandfw.netwww.idontwanttobepoor.com
  Elder at The Hills Church

“Aim for setting aside at least 10% for retirement - and don’t leave it in a savings account but use the stock market.  In addition, as you turn 50, begin to look at long term care insurance.”

• Larry Terry
  CRPCLawrence.R.Terry@mod.ameriprise.com
  Adult Third Culture Kid

“Before you go to the field, accumulate 6 months' income for an emergency fund, even if it means delaying your departure date.  Also, look into getting enough Term Life insurance coverage to replace your income.”

• Andy Johnson
  MRN Missionary Care Director
  Returned Missionary

“Talk with supporters about planning for retirement, home ownership, etc. Offering creative ways to support you may lend itself to involving more people. And be sure any financial advisor understands living internationally.”