Don?t leave money in one basket

Dear Dave,

Our church just received a very generous donation of $100,000 in a single stock. We?re looking at using this money in about five years to build a new sanctuary. Do you think we should leave the money where it is or invest it elsewhere?

? Fred

Dear Fred,

I?d get the money out of there in a heartbeat. Parking money in a single stock is an ultra-high risk. I?m guessing that the person who made this donation viewed it as a great tax move for them, but it?s a really bad place for a church to leave the money.

The leadership of a church is there to minister to the people, and put together facilities and programs to help the congregation and the community. They are not there to be single-stock speculators and gamblers.

All churches have business people in them, and sadly they end up bringing both good and bad business practices from the out in the world into God?s house. This isn?t a good idea, either, because you have different motivations and different mission statements at work.

The Bible itself says to “spread your money to seven, yes to eight portions, because you do not know what disaster may come upon the land.”

? Dave

Dear Dave,

My son is 27-years old and he?s been married for seven years to a girl from a wealthy family. Her parents have virtually supported them the whole time. Now, they?re getting a divorce and they have two kids. He?s come to us for the money to make this happen, and when we ask why he doesn?t have the money he tells us it?s none of our business. We want to help, but we?re not sure what to do.

? Dee

Dear Dee,

How about just saying no? And then if he asks why, tell him it?s none of HIS business.

This is a grown man we?re talking about, and if he?s going to take on the lifestyle and actions of a grown-up he needs to act like one and take care of his responsibilities on his own.

I understand he?s hurting right now, but there?s a lot of arrogance on his part going on here. It takes a ton of nerve to demand money from someone and tell them the reason they don?t have the money themselves is none of their business.

If you really want to help, Dee, offer to clothe and feed the children or let them all the stay at your home for a short period of time while he works through this and gets his act together. Now, if he seriously wants to get into some financial counseling and start becoming accountable for his money ? to himself AND to you ? then you might look at helping him money-wise.

But at this point if you just hand him money because he wants it, then you?re giving a drunk a drink. Anyone can make a mistake, Dee. But it?s not your job to fund his stupidity or his arrogance.

? Dave

Dear Dave,

I have an 18-year old daughter who?s a full-time student, lives with us and is about to give birth to our first granddaughter. I know we can still claim our daughter as a tax deduction, but who gets to claim the granddaughter?

? Sam

Dear Sam,

That?s an easy one. You can claim the grandchild if she lives with you and you provide more than half of her support and upkeep.

Best wishes on becoming grandparents, Sam. I know that baby?s going to be a precious addition to your family.

? Dave