Busting Misconceptions about the Wealthy

Financial PlanningGiving
Busting Misconceptions about the Wealthy

For many of us, becoming wealthy may seem as improbable as winning the lottery. Millionaire status is sometimes fun to imagine, but it may also feel impossible to attain, due to current income or financial demands, or perhaps it is because we’re not sure where to start.

Of course, simply attaining wealth shouldn’t be our goal.  As good stewards, if there is treasure attained on earth, the more of it we can use to advance the Lord’s kingdom, the better.  The Lord supplies each with what we need to accomplish His goals.  For many, this will mean being blessed with abundance.

Despite the fact that there are over 11 million millionaires in the United States, alone, achieving such wealth may not even be on your radar. Whether or not you are now or will be in the millionaire category, there are many misconceptions about getting there. Some of the most common misconceptions are:

  1. It’s impossible to become wealthy without an inheritance.

Becoming wealthy is not as unattainable as it may seem, and it’s entirely possible to grow your wealth even without an inheritance. In fact, 79% of millionaires didn’t inherit a penny. Discipline and long-term planning are essential when seeking to grow wealth. Prioritize getting out of debt… and staying out of debt! Then you’ll be free to maximize your saving and investing. It’s not necessary to have a six-figure income if you’re actively saving. This commitment to saving and the minimization of unnecessary expenses can place you in an optimal position to grow resources.

  1. The rich made their fortunes by greed and hoarding their wealth.

The perception of the wealthy as stingy hoarders of wealth is prevalent, but as Econofact found, it’s not technically grounded in reality. In fact, households in higher earning brackets are more likely to donate to charity, and, as wealth increases, they are more likely to give accordingly. More often than not, the wealthy did not become rich because of greed. Instead, it’s often principles such as controlled spending, savvy investing, and dedicated saving that contribute to accumulated wealth.

  1. It’s wrong for a Christian to be wealthy.

Although sins such as greed are warned against in Scripture, the Bible never condemns money itself. Instead, it cautions against the love of and preoccupation with money. As Matthew 6:24 reminds us, “You cannot serve both God and money.” Money cannot be placed on a pedestal of importance above God. But when placed in its proper context in our lives, money can become an incredible asset. God blesses us with resources in order to be a blessing to others. All that is required is to have wisdom and a desire to honor the Lord in all areas of our lives, even with our finances.

Becoming wealthy should not be our target, but having financial peace and long-term security is a worthy pursuit. When we manage our finances well and pursue stewardship with the resources God has blessed us with, it allows us more freedom to serve others and to give generously.


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