By Sheryl Rowling
SAN DIEGO –The Ten Commandments Of Investing
The principles set forth in the Ten Commandments can be applied to investing and achieving financial security. (Actually, eight – as you will see.) Sure, it takes interpretation, but why not? Here goes –
ONE: I am the Lord Your God, who brought you out of the land of Egypt, out of the house of bondage.
Your values should always be the foundation for your decisions
TWO: You shall have no other gods beside Me.
Monetary wealth should not be a goal in and of itself.
THREE: You shall not take the name of the Lord Your God in vain.
Don’t pray for more money. Remember, God helps those who help themselves. Make a plan, avoid consumer debt, save money and take care of your safety nets (like insurance and estate documents).
FOUR: Remember the Sabbath, to keep it holy.
You must walk the line between living for today and saving for tomorrow. Yes, it’s important to work hard and save for the future. However, there are no guarantees in life. Remember to smell the roses.
FIVE: Honor your father and your mother.
The advice your parents gave you is right. Save part of all of your earnings. Don’t be extravagant, buying trivial possessions on credit. Take care of your health. Give to those less fortunate than yourself.
SIX: You shall not murder.
Ok, it’s hard to translate this commandment into something financial, so I won’t even try!
SEVEN: You shall not commit adultery.
Utilize the services of a qualified financial advisor. A Registered Investment Advisor will always put your interests first. And, once you’ve engaged a professional, don’t get distracted by “cocktail party advice” or hot tips. Stay loyal to your advisor!
EIGHT: You shall not steal.
If it sounds too good to be true, it probably is. You won’t be able to consistently beat the market. Invest for the long term.
NINE: You shall not bear false witness against your neighbor.
This one too – it doesn’t have to do with finances (at least not that I can think of!).
TEN: You shall not covet your neighbor’s house, nor his wife, his man-servant, his maid-servant, nor his ox, nor his ass, nor anything that is your neighbor’s.
Don’t try to keep up with the Jones’. According to Psalms 128:2, “Who is rich? He who is satisfied with his lot.”
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Rowling is a certified public accountant, personal finance specialist, and principal of Rowling & Associates. She may be contacted at sheryl.rowling@sdjewishworld.com