opportunities in the midst of a financial crisis unlike any we have seen in our lifetime english...
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Opportunities in the Midst of a Financial Crisis Unlike Any We
Have Seen in our Lifetime
English Speaking Chinese Ministerial
Winston Ling – April 1, 2009
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The Economy
What led to the credit crisis?
• Consumers – low interest rate and rising house prices.
• Lenders – flush with cash and lending standards lowered.
• Investors – seeking larger yields and compromised on risk.
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The Economy
What started the credit crisis?
• New buyers for houses stopped.
• Mortgage investment losses grew.
• Lost faith in financial system.
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Opportunities
• Advantage back to investors – asset prices now substantially lower.
• Young adults under 35 have great opportunity to recover from market losses.
• Low interest rates on loans.• New and used cars – bargains.• Businesses that are growing – books,
McDonald’s and movies.
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Personal
Sound Financial Principles
• Spending more than you make.
• Start habit of saving.
• Always pay your credit card balance in full.
• Put larger down payment on house purchase – 20-50%.
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Personal
Sound Financial Principles
• Avoid borrowing – other than for housing.
• Leasing is borrowing.
• Minimize payment of taxes.
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Personal
Minimize Income Taxes
• Save through TFSA.
• Contribute to RRSP.
• Contribute to RESP for children – tax free grant.
• Invest in principal residence.
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Personal
Minimize Income Taxes
• Self employment.
• Shifting income to family members.
• Gifts to charities.
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Personal
Investing Guidelines
• Don’t try to hit a home run.
• Don’t invest on impulse.
• Don’t let others make decisions for you.
• Diversify and manage risks.
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Church
Mission & Vision
• Stick with the message.
• Make it clear and intentional.
• What is God calling us to be?
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Church
Helping the Unemployed
• Support group.
• Spiritual and emotional help.
• Resume writing.
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Church
Helping the Unemployed
• Employment – networking and spending time with people.
• Ask members for help to provide work.
• Personal budget – financial help.
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Church
Finances
• Budget – intentional
• Budget – stewardship
• Capital project – does it fit the mission and vision?
• Pastor’s remuneration – adequate?
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Poor
Who are they?
• Homeless – houseless
• Poor – poverty
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Poor
What do we do? – Less effective
• Give them money.
• Handout.
• No accountability
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Poor
What do we do? – More effective
• Volunteer with organizations serving the poor – YSM or TCM.
• Study scripture – over 2,000 references – over 400 different scripture passages that speaks of God’s passion for the poor.
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Poor
What do we do? – More effective
• Pulpit time – poor, compassion and justice.
• Research current studies online: – United Way – Poverty by Postal Code
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Poverty by Postal Code
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Poverty by Postal Code
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Poverty by Postal Code
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Poverty by Postal Code
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Poverty by Postal Code
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Poverty by Postal Code
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Poor
What do we do? – More effective
• Research current studies online: – University of Toronto – Centre for Urban &
Community Studies: The Three Cities within Toronto
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The Three Cities within Toronto
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Poor
What do we do? – More effective
• Bill & Melinda Gates Foundation – Global Development Programs.
• Start a food bank.
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God’s Promise
• Provide and equip.
• All the money that is required for God’s work is already in the hands of God’s people.
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God’s Promise
Do not fear the future.
God is already there.
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Christian Education
• Support for all grades – elementary, high school and university.
• Is a good investment.
• Children and youth – most influential time of their lives.
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Christian Education
• Society – little influence of Christianity.
• Public school system – God is not welcomed.
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Tyndale
• Over 100 years old.
• Seminary – has reputation and well-known.
• University College – New, June 2003.
• Toronto’s Christian University – Liberal Arts.
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Tyndale
• Critical thinkers.
• University for young people to test their faith and question everything.
• Becoming extraordinary and defy the ordinary.
• McLean’s student satisfaction survey – high ranking.