Giving Our All

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A little girl named Liz was suffering from a rare and serious disease. Her only chance of recovery appeared to be a blood transfusion from her five year old brother, who had miraculously survived the same disease and had developed the antibodies needed to combat the illness. 

The doctor explained the situation to her little brother and asked the young boy if he would be willing to give his blood to his sister. He hesitated for only a moment before taking a deep breath and saying, “Yes. I’ll do it. If it will save her.” 

As the transfusion progressed, the boy was lying in bed next to his sister. He smiled when he saw the color returning to her cheek. Then his face grew pale and his smile faded.

He looked up at the doctor and asked, with a trembling voice, “Will I start to die right away?”

Being young, the little boy had misunderstood the doctor. He thought he was going to have to give his sister all of his blood in order to save her and that he himself would die in that process.

In the hymn “Take My Life and Let It Be” we sing the words: “Take my silver and my gold, not a mite would I withhold. Take myself and I will be, ever, only, all for Thee.” Those are startling words, sometimes sung quite glibly.

In the Bible a rich young man asks Jesus: “What must I do to inherit eternal life?” Jesus prescribed some behavioral boundaries, which the man claimed he had kept all his life.

Jesus then said: “There is one thing you lack. Go, sell everything you own and give it to the poor, and you will have treasure in heaven. Then come, follow me.” Mark 10:17-21

Who among us is truly willing to give everything? To anybody? To any cause? Even to Jesus?

Terry and I love the spirit of generosity. It gives us great joy to give to people and to charities that serve people, both physically and spiritually.

But sell everything we have? Now? While we still need it? And give it to the poor? Where would we live? What would we wear? How would we eat?

Terry often says she’d love to win the lottery. She would give it all away. Her frugal husband frowns at the thought of his dear wife playing the lottery, which she wisely chooses not to do.

Our estate plan comes as close to giving everything away as we’re probably going to come. Our plans provide for the surviving spouse for life. Then the annual earnings from our remaining assets go to our children and grandchildren for 20 years. Our family will be well taken care of.

After those 20 years, the overwhelming majority of our estate, still basically intact, will become two perpetual endowments, lasting till the end of time. One will support Christian missions. The other will support people, especially children, in need—The Least of These.

That’s our plan. What’s yours?

Net Worth of the Average American Family

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A 2019 survey from Charles Schwab shows that Americans believe it takes a net worth of $2.27 million to be considered “wealthy.” Net worth is the net value of what you own (your home, 401(k), investments, and any other assets), minus any debt you owe.

Want to know how that compares to the actual average net worth of American families?

A recent Federal Reserve Survey of Consumer Finances shows that the mean (average) net worth of all U.S. families is $692,100. The median (half are above and half are below) net worth is $97,300. Because the numbers from super-rich families can pull up the average, the median number may be a better gauge.

Here’s the mean (average) net worth of U.S. families (including numbers from the super-rich) based on the age of the head of household:

• Age 35 or younger: $76,200
• Age 35-44: $288,700
• Age 45-54: $727,500
• Age 55-64: $1.17 million
• Age 65-74: $1.07 million
• Age 75 or older: $1.07 million

Here’s the median (mid-point) net worth based on the age of the head of household:

• Age 35 or younger: $11,100
• Age 35-44: $59,800
• Age 45-54: $124,200
• Age 55-64: $187,300
• Age 65-74: $224,100
• Age 75 or older: $264,800

Many people are surprised at their net worth, which is usually much higher than they ever thought it might be. Compared with much of the world, most Americans have been blessed!

Jesus said: “To whom much is given, much will be required.”  (Luke 12:48) We are blessed with talent, wealth, and time. The Lord expects us to use those blessings to bless others.

How’s that working in your life? What decisions are you making now that will be a blessing for your family and also for people with physical and spiritual needs, both now and for eternity?

Legacy Deo can help. For a free digital copy of “How Can I Benefit from a Planned Gift?” email us at info@legacydeo.org or call (512) 646-4909. Go to www.legacydeo.org for additional information.

Winston Churchill said: “We make a living by what we get. We make a life by what we give.”

The Gift that Keeps On Giving

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“You don’t have to invite him. But if you could find it in your heart!” That’s what my dear mother said when I told her I was not planning to invite a certain pastor to participate in my service of ordination to the pastoral ministry, which occurred June 7, 1970. After Mom’s comment, my mind was changed. I invited the pastor.

“But if you could find it in your heart” is a classic use of guilt as a motivating factor. Someone very close to me says guilt is the gift that keeps on giving. She’s right.

This time of year we think about giving and our motives for so doing. Christmas gifts are purchased and given to loved ones—because we love them. Charitable gifts are given to our church and other favorite charities—because we believe in the causes they support.

This past Sunday afternoon Terry and I discussed the charitable recipients on our list this year. We began by reviewing the organizations we supported last year. Most of them stayed on this year’s list. Some did not make the cut. Others were added for the first time.

It was enjoyable, yet challenging. The joy is in the giving. Both of us love to give. The challenge is determining the amount to give to each recipient. It’s not at all a scientific process—just a matter of our hearts merging to agree on the final amount for each worthy cause.

Many folks support one or more favorite charitable endeavors. No doubt you have your own process for making decisions about which causes to support and the amount to give to each.

One new cause we love is “The Least of These” (Matt. 25:40) Perpetual Endowment Fund. Its purpose is “To provide annual support, in perpetuity, for the work of Christian and other humanitarian organizations in providing charitable relief for people, especially children, suffering from hunger, disability, abuse, homelessness, or any other chronic malady.”

If you’d like to add your support to this cause, go to http://www.legacydeo.org. Click on “Give” then “Donate” then indicate the gift amount. In the “Description” blank, put EN331, complete the Payment and Billing information, and you’re done.

You can also send a check payable to Legacy Deo notated “The Least of These” to Legacy Deo, 7900 E. Hwy. 290, Austin, TX 78724. Either way, you will receive a proper receipt for your gift.

Terry and I believe that like you, we have been blessed—to be a blessing! We also believe the real gift that keeps on giving is not guilt but the joy of generosity! God bless you abundantly!

As I Have Aged

These thoughts about aging were shared by a good friend. Author unknown. Slightly amended.

I can hit a golf ball and laugh if it goes in the lake. I’m just happy I can still swing the club.

As I’ve aged, I’ve become kinder to me and less critical of myself. I’ve become my own friend.

I’ve seen too many dear friends leave this world, too soon, before they enjoyed old age.

It’s OK if I choose to read or play on the computer till 4:00 a.m. and sleep till noon. I might dance with myself to tunes from the past. If I wish to weep over a lost love at the same time, I will.

I’ll walk the beach in a swim suit stretched over a bulging body and dive into the waves, with abandon, despite pitying glances from younger folks. They too, will get old.

I’m a bit forgetful. Some of life needs to be forgotten. Usually I remember the important things.

Over the years my heart has been broken. How can your heart not break when you lose a loved one or when a child suffers? But broken hearts are what give us strength, understanding, and compassion. A heart never broken will never know the joy of being imperfect.

I am blessed to have lived long enough for my hair to turn gray. Many don’t have that privilege.

Growing older has set me free. I’m not going to live on earth forever. And while I’m still here I’ll try not to waste time lamenting what could have been or worrying about what will be. 

And here are a few of my own observations:

The older I get, the more I think about eternity and about what the end of my life will be like.

Who we are and what we have are God’s gifts to us. What we do with who we are and what we have are our gifts to God. One of my values comes from Jesus: “Not to be served but to serve.”

Christian estate planning is a blessing not only to me, but also to my dear Terry, our children, grandchildren, and other special causes near and dear to my heart. It feels good to have it done.

I’ve seen people pass away with a simple but sufficient estate plan, including a basic Will. I’ve seen others pass away with no such plan.

Believe me. It’s better to have a plan. Do it. Now. You, too, are aging. Every day.

Two Important Tasks

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Last year I created an Excel spreadsheet for the purpose of planning a family budget for the next ten years. For this purpose, our immediate family is Terry and yours truly.

My thought is that someday I’ll probably want to retire from full time employment. Because I began working for pay from the time I was about 12 years old, and still do so today, fully retiring from gainful employment will be a big step in my life. I’m not ready yet. But it will happen someday.

Be that as it may, I believe it’s not only important but critical for individuals or couples approaching the end of their working career to take a close look at anticipated income and expenses to see how the two match up. So that’s what I did.

The expenses on our list include generous contributions for our home congregation and other favorite ministries and charities; home mortgage, including PITI; auto expenses, including payments, insurance, maintenance, and gasoline; utilities, including water, gas, electricity, cable TV, internet, and cell phones; health and life insurance premiums; groceries, occasional restaurant meals, clothing, and routine household expenses; family birthday and Christmas gifts; travel and vacation allowance; federal taxes; medical expenses; savings; unexpected and miscellaneous expenses.

The sources of income on our spreadsheet include salary, estimated to terminate at an approximate point in time; retirement plan/pension payments; social security checks; income from IRAs, 401(k)s, 403(b)s, and annuities.

I planned for gradually increasing expenses with income adjusted by loss of current salary, followed by stable but slightly increasing revenues. As long as the difference between these two numbers is positive on the revenue side, we should be alright. That’s certainly the plan.

This process is closely related to estate planning myth #6: “No need to make a list of what I own. My family will be able to find it all.” Here’s the reality. This myth is the result of indifference, laziness, lack of care and concern for loved ones. It takes time and effort to create a budget and at least as much time and effort to make a list of assets and liabilities.

To assist in this process, we at Legacy Deo have created what we call the “Red Book.” It’s designed to help record in writing your assets and liabilities; account numbers and balances; contact information for each account, including address, phone, user name, and password; location of important legal and financial documents, etc. This is a very significant document!

Request your free electronic Red Book at mailto:info@legacydeo.org or call (512) 646-4909. You’ll be glad you did. And while you’re at it, get busy on that budget. Both are important tasks!