How Christians Can Overcome Their Fear of Investing (#163)

Financial Advisors Say The Darndest Things

Episode Summary: In this episode of "Financial Advisor: Say the Darndest Things," AB Ridgeway explores the concept of fear in financial decision-making. He contrasts rational fears, such as those related to physical safety, with irrational fears stemming from a lack of knowledge or understanding, particularly in investing. Ridgeway emphasizes the importance of addressing these fears through education, experience, and a shift in mindset.

Key Takeaways:

1. Understanding Fear in Finance: Ridgeway distinguishes between rational fears, like fear of physical harm, and irrational fears driven by a lack of financial knowledge. He stresses the need for individuals to confront their financial fears through education and informed decision-making.
2. Overcoming Fear Through Education: By delving into Dave Ramsey's explanation of fear, Ridgeway underscores the role of knowledge in overcoming financial apprehensions. He encourages listeners to engage in learning about financial matters to dispel irrational fears and make confident investment choices.
3. The Role of Experience: Ridgeway highlights the significance of gaining practical experience in finance to overcome fear. He suggests starting with small investments or exploring retirement accounts like 401(k)s to familiarize oneself with the market and build confidence in decision-making.
4. Biblical Perspective on Fear: Drawing from biblical teachings, Ridgeway discusses the theme of fear and reassures listeners that God provides the strength and self-control to overcome fear. He emphasizes the importance of aligning financial actions with righteous intentions and seeking guidance to navigate financial decisions effectively.
5. Empowerment Through Financial Planning: Ridgeway concludes by affirming his commitment to assisting high net worth Christians in developing financial plans aligned with their values and goals. He encourages listeners to embrace financial empowerment and spiritual richness by overcoming fear and taking proactive steps towards financial well-being.

Quotes:

1. "This fear that we have in the Bible is really about our actions and our intentions... If our intentions are just to accumulate our own wealth for our own selfish reasons, then yes, you will have fear in the market."
2. "You're not going to overcome your fear of the market unless you gain some type of experience... You don't necessarily have to rely totally on your financial advisor."
3. "For God gave us a spirit not of fear but of power and love and self-control... Allowing God to control the things that you can't."

💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!

https://calendly.com/abridgewaywm/consultation

*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.

https://youtu.be/wHAZQ57FkkA

Audio credit: DaveRamsey