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Money God's Way, Part 10: Protecting

September 08, 2021

The Bible has a lot to say about the need for us to protect our loved ones in the event of a disability or premature death using insurance and through legal documents.  This week we will first consider some key verses, then next week take a look at the various areas of insurance and legal documents that can help protect your loved ones.

First, we have a responsibility to take care of, and provide for, our family.  This includes having a plan in place if something happens to us.  We discussed 1 Timothy 5:8 in some of the first blog posts.  God has disdain for those who don’t take care of their family.  A fact of life is that we will all die.  We are never guaranteed tomorrow, whether we’re 25 or 85.  We’re also never guaranteed great health.  An injury or sickness combined with the inability to provide an income for our family can be even more financially devastating than death.

Matthew 7:26-27 tells us, “And everyone who hears these words of mine and does not do them will be like a foolish man who built his house on the sand.  And the rain fell, and the floods came, and the winds blew and beat against that house, and it fell, and great was the fall of it.”  I consider protection strategies to be Step #1 in financial planning.  Too often, I see people wanting to start saving for retirement, which is a noble action toward an important goal.  However, when you dig deeper and find out they have a family that depends on them and they are without life insurance or disability income insurance, this is the Bible verse that comes to mind.  I visualize savings and investments as the house, and a premature death or disability as the foundation of sand.  The house just cannot stand when unplanned things of life happen, and the sands get washed away.  That’s where insurance is necessary for many.  If you have anyone who depends on your income, then you need proper insurance.  Consider this hypothetical scenario:  A 27 year old has a wife and two kids.  They have a new 30 year mortgage; the wife is currently a stay at home mom and husband is still in an entry level position with his company with a promising future.  The husband is participating in the company sponsored retirement plan and has diligently saved $50,000 for retirement.  They’ve also saved 6 months of living expenses in an emergency fund which amounts to $30,000.  How long will that $80,000 last if the husband dies unexpectedly or becomes disabled?  Not very long.  Suddenly the wife’s stay at home ability is greatly in doubt and so is the likelihood of being able to keep up with the mortgage, not to mention any ability to help the kids pay for future school expenses.  This is where the proper insurance is so important.  I would also argue that it’s important for the non-working spouse to have a certain level of life insurance.  If the wife were to die in this scenario, who will take care of the kids if they’re not yet in school?  If they are in school, who will watch them after the school day or during school break when the husband is still at work?  Life insurance obviously does not solve all problems, but it can make problems much worse without it.

The book of Ecclesiastes was written by King Solomon.  Solomon was known as the wisest man in the world.  In Chapter 11:2, he reminds us that we should “Give a portion to seven, or even to eight, for you know not what disaster may happen on earth.”  We must take steps to protect against the uncertain.  Saving alone is usually not enough.

If you have any questions, email me at or call me at 716-707-1818.

Next Week:  Protection Options

The views stated in this letter are not necessarily the opinion of Cetera Investors and should not be construed directly or indirectly as an offer to buy or sell any securities mentioned herein. Due to volatility within the markets mentioned, opinions are subject to change without notice. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed. Past performance does not guarantee future results.