Larry Burkett's Last Book Aptly Named 'Wealth to Last'
- 2003 18 Dec
"Wealth to Last," a money management guide for those 50 and over, is the last book written by the late Larry Burkett and co-author Ron Blue.
Burkett, who died in July 2003, was the founder and president of Christian Financial Concepts, now known as Crown Financial Ministries, and talk show host for "Money Matters" and "How to Manage Your Money." His ministry also extended to more than 50 books, including "The Coming Economic Earthquake," "Your Finances in Changing Times" and "The Financial Planning Workbook."
His coauthor, Ron Blue, has written nine books on personal finance from a biblical perspective, including the popular "Master Your Money" book and video series.
Burkett finished the work on "Wealth to Last" just one week before his death.
The book, published by Broadman & Holman, a division of LifeWay Christian Resources, also includes material from Jeremy White, a certified public accountant whose CPA firm specializes in retirement and estate planning.
"Wealth to Last" addresses the very real fear of Americans in the second half of life: "Will I outlive my money?"
"The American Society of Pension Actuaries found that more than 50 percent of pre-retirees underestimate their life expectancy," Burkett wrote in the new book. "According to mortality tables, a married couple at age sixty-five have a 67 percent chance that both will live to age eighty-five. There's a 33 percent chance that one will make it to age 90. Will your wealth last that long?"
In an age of financial ups and downs and economic uncertainty, Burkett and Blue discuss how to apply correct financial principles even when the market is undependable.
Since basing personal finances on an ever-changing world is unreliable, the book gives help for wise financial management regardless of the situation. Using the Bible as the foundation for good financial principles, "Wealth to Last" covers specific financial questions with real-life examples, statistics and tables.
The five Ps of financial planning outline the basics:
Paradox of prosperity.
- Perspective on the economy and financial markets.
- Principles to live by.
- Planning to make it happen.
- Paradigm of belief.
Using these key principles, "Wealth to Last" encourages readers to manage money wisely, not just for money's sake, but also for a well-planned retirement that will impact the world around them in a positive way for Christ.
Burkett and Blue raise questions about comparing retirement to a never-ending golf game. The authors write that most Americans wither under an all-leisure, work-free setting because God created people with a Kingdom purpose in mind.
"To put it in the right balance, it would seem clear that, biblically speaking, God's norm is for us to stay active all of our years," they write. "So, at best, retirement is a transition to a different vocation — not a lapse into dormancy. Most people obviously can't keep the same pace at 65 that they did at 25 or 45, but there is much they can do.
"We recommend viewing retirement as an adventure-filled next phase of life. Expect to work and seek meaningful work."
The book also lists "greats" like Winston Churchill, Albert Einstein, Grandma Moses, Strom Thurmond and others whose major accomplishments came after 59 — the beginning date for penalty-free withdrawals from Individual Retirement Accounts.
Other topics in "Wealth to Last" include investing, insurance, spending and income, plus a wrap-up about leaving a legacy.
"Our theme throughout this book has been making your wealth last," Burkett and Blue write. "You probably assumed we meant trying to make your wealth last until the end of your life or until the end of your spouse's life. But our ultimate goal is to help you make your wealth last beyond your life, a legacy to continue past you."
The authors hope to take away gripping financial fear and mismanagement and give baby boomers something to look forward to in their second half of life: "God may have more in mind for your retirement years than you have imagined possible."