Podcast | Season 1 | Episode 57

The Description

The 4 H’s of Financial Wisdom Part 2

In this week's mini-episode, Ross Haycock in our Colorado Springs office continues his 4-week series on the 4 H's of financial wisdom. Here’s episode 2 of that mini-series. 

Ross Haycock, CFP®, AIF®, CKA®, is the Vice President and Financial Advisor with Summit Wealth Group and manages the Colorado Springs branch office. As a Certified Kingdom Advisor, Ross is unique in that he offers a biblical approach to financial planning. Ross believes that the financial principles found in Scripture build the foundation for a healthy relationship with money. With the heart of a teacher, Ross specializes in carefully and thoughtfully guiding clients through often complex financial topics.

Ross is a 40+ year Colorado resident. He joined Summit Wealth Group in 2003 and became partner in 2006. He specializes in retirement and retirement income planning, focusing on pre-retirees/retirees and those in a major life transition. Ross regularly meets with clients in-person in Colorado Springs, Denver and surrounding areas, and also has clients located in various parts of the country who he meets with virtually. Ross also oversees the marketing team at Summit. 

Prior to Summit Wealth Group, Ross spent a decade in sales and marketing in the telecommunications industry, serving small businesses to Fortune 100 clients. He worked for AT&T as well as a couple of startup telecom companies. Ross graduated from the University of Northern Colorado with a degree in business administration. He is a registered representative with Commonwealth Financial Network® (a registered broker/dealer, member FINRA/SIPC). He holds FINRA Series 7 and 66 securities registrations and life/health/LTC insurance licenses.
 

(719) 633-4033 | 13710 Struthers Road, Suite 115, Colorado Springs, CO 80921
Securities and Advisory Services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services are separate from and not offered through Commonwealth Financial Network.

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The Transcript

Stephanie

"Ross Haycock, Certified Financial Planner and Vice President at Summit Wealth Group is the host of today's mini episode. "

Ross

"The second H in the four H's of financial wisdom has to do with health and it's really about today's reality, what's happening today in your life. There are five simultaneous competing priorities for the use of money and God's word speaks to each of those.

It's live, give, oh, grow. And we'll dive into each one of these. Live. Practice provision, contentment, and enjoyment, because money is a tool. That's all money is. It's just a tool used to get what we need and sometimes what we want. You can reference 1 Timothy 4, 4, 5, 8, and 6, 6 through 10. Give. Open my hand to release God's resources.

He wants my heart connected to his kingdom story. And you can reference Matthew 6, 19 through 24, 2 Corinthians 8, 9 through 11. And Luke 16, 13. Now there's two aspects of O and the first one is debt. Eliminate debt because debt always presumes upon the future. And that's referenced uh, in Proverbs 22, 7 in James four 13 through 16.

Although you may be in a great situation right now financially, but we don't know what things look like tomorrow or next year. And when you incur debt, it just always presumes that things are gonna continue to happen as they've always happened, and that may not be the case. The second area of O is taxes, and here's an interesting truth that you may never have thought about.

But pay taxes with gratitude. It's a sign or a reflection of God's provision. And that's Matthew 22, 17 through 21. That's something to think about. Finally, grow. Demonstrate financial maturity by giving up today's desires for tomorrow's benefits. If you look at Proverbs 6, 6 through 8, and Luke 14, 28 through 30, those are good references.

Now some things in regards to your current health situation, I have a great tool, a great chart that can help you understand where you're at in each one of these areas, live, give, owe, grow. And I'd be happy to send that to you. There's some calculations that you want to look at, but it'll give you an idea of where you're at currently and some things that you might want to change.

For example, if you're paying too much in taxes or you'd like to increase your giving, this will give you a level set of where you're at right now and some areas that you might want to change."

Stephanie 

"Thanks for listening to a mini episode of the Reacher Summit podcast by Summit Wealth Group. If you'd like to help support the podcast, please share with others and subscribe so you don't miss an episode. Thanks again."