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203 – 1 Timothy 6.3-10

In this show you will hear a recording of an exposition of 1 Timothy 6.3-10 that Steve Donahue recently provided to Mt. Tabor Baptist Church.  This section of the Scriptures deals with money.  The outline is as follows:

  • Avoid Gain Teachers 3-5
  • Be Content with Godliness 6-8
  • Don't Love Money 9-10

I thank you for listening and supporting the podcast.

Episode-107- Setting Goals and Plans for 2013

As 2013 approaches most people are thinking about what will happen during that year and what happened this past year.  The end of the year then is a great time to address the issue of goal setting and what is involved in that and how to achieve the best results from it.  There is a great book from which some of the subject matter of this podcast comes: Tommy Newberry's Success Is Not an Accident: Change Your Choices; Change Your Life.  Here are the Eight Rules to Effective Goal Settings:

  1. They must be written down
  2. They must be state in the present tense
  3. They must be stated positively
  4. They must be consistent with your core values and mission statement
  5. They must be specific and measurable
  6. They must be time-bound
  7. They must be balanced between reasonableness and challenge
  8. They must be thoroughly planned

 Resources for Today's Show:

Episode-98- Cultural Capital

In this show we complete the series on the varies forms of capital.  This last type of capital is Cultural Capital.  First I review the eight different types or capital discussed.

Social Capital
Material Capital
Financial Capital
Living Capital
Intellectual Capital
Experiential (Human) Capital
Spiritual Capital
Cultural Capital

I then discuss what Cultural Capital is.

Then I discuss the uniqueness of Cultural Capital

This is followed by looking at several different examples of groups that form their own unique cultural capital, including:

  • Family
  • In a business
  • In community
  • In an ethnic group
  • In a nation
  • Pop culture

Why is learning about and working at building more of the various kinds of capital important?
We want to build a legacy of abundance.  Abundance comes from obtaining and developing your capital.
Go back through and review the 8 forms and what you can do to develop the various forms of capital in your life.  Set some goals for each form of capital for 2013 and a plan to achieve it.

Resources for Today's Show:

Episode-92- Spiritual Capital

In today's show I discuss the concept of Spiritual Capital as we continue our series on the eight forms of capital described by Ethan C. Roland of Appleseed Permaculture. I will probably be taking a little different direction than most who comment on the concept.  First, I discuss what it is not.  Second, I discuss briefly the idea that spiritual capital can be looked at as a subset of Social Capital.  Third I look at spiritual capital and its acquisition from an eternal perspective as indicated by Matt. 6:19-21 and highlighted from three other Scripture texts (2John 1:8, John 4:36, 1Cor. 3:8, 14). When taken from this perspective it encourages us to be involved in sound doctrine, evangelism, and discipleship.

Resources for Today's Show:

Episode-88- Experiential or Human Capital

In this show I discuss the 6th form of capital identified by Ethan C. Roland of Appleseed Permaculture which is Experiential or Human Capital.  This form of capital is the acquired experiences of individuals that are used as assets.  Join me as I discuss:

  • What is Experiential or Human Capital
  • Two ways to look at this form of capital
  • Some benefits of Human or Experiential Capital
  • What to do to acquire more experiential capital or leverage the experiential capital you already have.
  • Relationship between experiential capital and wisdom

Resources for this Show:

Episode-86- Economic Freedom Report

Join me in this show for a commentary on the Economic Freedom of the World Report

In this report we find that the US is slipping quickly in its economic freedom.  The question is how far down the list will we fall?  Here is the outline of the show.

1) What kind of legacy are we going to leave our children

  • Will they inherit the blessing of abundance by being in the land of opportunity

2) What is the Economic Freedom of the World report 2010?

  • the Fraser Institute, a free-market think tank in Canada and the washington-based Cato Institute measure 41 indicators of the 144 countries.
  • The work of Economists James Gwartney, Robert Lawson, and Joshua Hall

3) What do they measure? 5 main areas

  • Size of the government
  • Legal System and Property rights
  • Sound money
  • Freedom to Trade Internationally
  • Regulations

4) Why is the study important?  What are the general findings?

  • freer markets are better for:
  • per-capita income
  • economic growth
  • amount of income earned by poorest
  • life expectancy
  • political rights and civil liberties
  • unemployment rates
  • debt per capita
  • income inequality
  • gender inequality
  • Child labor
  • air pollution
  • forest growth
  • CO2 emissions

5) Where does US stand and where is the US trend?

  • In 2000 US was 2nd
  • by 2009 we had dropped to 12th
  • In 2010 we had dropped to 18th.
  • One estimate was that if the statistics were in for 2012 we would be 40th. (That would put Spain ahead of us)
  • Others around. (Kuwait 19), Qatar (17)
  • Protection of private property rights showed the greatest decline (thanks war on terror)

6) 5 reasons for the decline

  • increased use of eminent domain
  • war on drugs and terror
  • uncertainty in the business environment (who will get bailed out when)
  • growth in size and scope of government (adjusted government spending has growth b by more than 50 % since President Clinton left office.
  • regulations
  • Inflation

7) What does this mean for you and me?

  • If no change all the other things listed earlier will decrease

8) What can we do?

  • Prepare for worse economic conditions in the US
  • Strengthen your own economic position
  • Remove investments in US unless they are countries that do business in growing economies.
  • Invest in countries that are becoming more free
  • Don’t vote for establishment candidates

God can bring good out this too!

Resources for Today's Show:

Episode-83- Intellectual Capital

In this show we discuss the 6th of 8 forms of capital first discussed by Ethan C. Roland of Appleseed Permaculture
which is intellectual capital.  Here is an outline of what is discussed.

What is Intellectual Capital: The knowledge that you have on any particular subject specifically and all things combined generally.

Some benefits of intellectual capital

Cannot be taken away

A tornado can wipe out your material capital
An economic depression can wipe out financial capital
A drought or plague can wipe our your living capital
But unless you have an accident and get amnesia or acquire alzheimers at your old age you will not loose you intellectual capital

Can be acquired readily today by use of the internet

There is so much information available today through the internet.
There are whole courses on subjects
There classics online in audio and eBook form
YouTube how to..

Can bring leverage to all the other assets

For example, the knowledge on how to increase your rabbit yield will help your living capital
The knowledge of economic cycles can help increase your financial capital.

Some things to consider

  • Intellectual capital must be applied to be most valuable
  • A PhD with our experience and application is simply a piece of paper.
  • Investing in intellectual capital is one of the few forms of capital that is concentrated on one own self development which results in a exponential benefit.
    • For example, if you invest some financial capital to acquire some living capital like some fruit trees that is a trade of one thing for another of personal property.
    • Where as if you invest some financial capital into some books that you read and apply what is learned in those books you and that to which you apply the knowledge benefits.

How to acquire more intellectual capital

The Traditional route

  • school
  • trade school
  • college
  • university
  • take advantage of these opportunities to learn something. Do not consider what you are doing as meaningless, consider it as building your intellectual captial.

Non Traditional route

    • Internet
    • E-books
    • Audios
    • Online courses
      • For example Liberty classroom
    • ie. podcasts
    • ie. audio books
    • ie. online articles

What to do?

  • Consider where you have areas of expertise
  • Consider where you would want to learn more
  • Evaluate where and how you intend to acquire the needed intellectual capital.

Resources for Today's Show

Episode-80- Living Capital

In this show you will hear about one of the eight forms of capital namely, Living Capital.  These were originally described in Ethan C. Roland of Appleseed Permaculture.  Living capital is resources and assets that are alive in some way.  Obviously, most people are familiar with some forms of living capital such as livestock but there are others forms you may not consider.  Join in learning about some different kinds of living capital, some things to think about living capital, how to acquire more living capital, and what can you to today in light of living capital.

Resources for Today's Show


Episode-76-Material Capital

In this show  I talk about the second of eight forms of capital identified by Ethan C. Roland of Appleseed Permaculture which is Material Capital.  Join me as I talk about:

  • What is Material Capital?
  • What are some examples Material Capital?
  • Why is it important to have Material Capital?
  • How do we acquire more Material Capital?
  • What steps should we take?

Resources for Today's Show:

Episode-75-Social Capital

In this show  I talk about the first of eight forms of capital identified by Ethan C. Roland of Appleseed Permaculture which is Social Capital.  Join me as I talk about:

  • What is Social Capital?
  • What are some examples of people with lots of Social Capital?
  • Why is it important to have Social Capital?
  • How do we acquire more positive Social Capital?
  • What should we do?

Resources for Today's Show:

Episode-74- Nine Things We Need to Bring Home


The typical American family buys a huge house but spends little time in it.  This is because we have gradually delegated away and outsourced many of the activities that are suppose to be done in the home.  In this show I discuss nine of these activities that need to be brought home.  Join me as a discuss the following:

  • Work
  • Education
  • Cooking
  • Food Production
  • Hospitality
  • Church
  • Outreach
  • Exercise
  • Care for the Aged

Resources for today's show:

Episode-63- Nine Tips for Retirement Investing

In today's show I discuss nine tips that can help you in your retirement investing.  It is important if you are planning on leaving a financial legacy to invest for the time when you cannot work for money and your money has to start working for you.  This is what retirement is.  Join me today as we look at these nine retirement tips:

  1. Rollover Old Retirement accounts
  2. Max the Match
  3. Use a Roth IRA
  4. Don't forget about the Spousal IRA
  5. Consider actively managed money strategies.
  6. Know and understand how to figure how much you need
  7. Buy assets that people use in your portfolio
  8. Don't forget the importance of your own business in your retirement calculations
  9. Reconsider the definition of retirement

Resources for today's show

Episode-59- 5 Essentials for Financial Success

Financial Success is essential to building a legacy in many respects.  Further, there are certain essentials to achieving success financially.  They are not often hard to understand but they are often hard to do because they require maturity of character to accomplish them.  Join the show today to hear a discussion of these five essentials:

  1. Budget
  2. Get out of Debt
  3. Save some money
  4. Give
  5. Have healthy relationships


Resources for today's show

Episode-57- Time Management

We are only given so much time in this life in which to build a legacy which means that we need to make the most of every moment.  In this episode I share some tips and principles that I have learned about time management.  The most important time management principle is knowing what activities fall into which category in the Time Management Chart.

Time Management chart

Other time management principles

  • Have a task or to do list
  • Touch it once
  • Do the most difficult thing first
  • Have and refer to long term goals often

Resources for today's show

Episode-51- 15 Financial Terms Everyone Should Know

Many times people use terms with the thought that everyone else knows what is meant by these terms.  I don't want to do that.  So in this episode I discuss 15 basic financial terms that everyone should know so that if you don't know them after this episode you should be able to.  If you already know them..well it will be a refresher.  Join me today as we describe the following:

  1. Asset
  2. Liability
  3. Net Worth
  4. Budget
  5. Cash Value
  6. Face Amount/ Death benefit
  7. Annuity
  8. IRA
  9. Roth
  10. Bonds
  11. Stock
  12. Mutual Fund
  13. Financial Independence
  14. Inflation
  15. Money Market

Resources for today's show


Episode-49- Interview with Doug Pruiett

In this episode I interview Doug Pruiett who has recently started a family business.  I interview him on why and how he started his business with the hope to inspire others to start a family business where the next generation can be discipled, learn a trade, and contribute to society and the church.

Pruiett and Sons is a “father and sons” business that hand-crafts farm-style dining tables, benches, coffee tables, and more.
Doug spent seventeen years as an aerospace engineer at Cape Canaveral, working in the design and testing of long-range nuclear missiles.
In 1996 He went into full-time Christian work as a missionary, then pastor, and now an assistant VP of information technology for a Good News Jail and Prison Ministry.
He has always maintained his engineering interests and work in his Christian assignments.  “My sons and I were taught the building and carpentry trades by a master-carpenter for over five years. One of my first lessons was that buildings (and most other things) do not require aerospace tolerances. Once I quit using a micrometer on everything, I began to build some nice things in a reasonable amount of time.”

Resources for today's show



Episode-46- The Consumer Side of Food Legacy

In this show I talk about the Consumer side of food legacy.  I address 6 considerations for those who are not producing their own food but want to be good stewards of resources
Why this is an important topic?

  1. Not everyone is able to produce significant amounts of their own food.
  2. Someone else had to produce the food you eat

6 Considerations

1. Consider your option

2.Consider the complexity of food production

  • Various terms
  • organic
  • all natural
  • naturally grown
  • grass fed/ grass finished
  • free range
  • cage free
  • humanely treated
  • grain fed
  • non-gmo
  • heirloom
  • Hybrid
  • Hormone free
  • raw vs pasteurized milk
  • no till
  • permaculture
  • sustainable
  • authentic

3. Consider the season and location

4. Consider real cost of the food

5. Consider food preservation

6. Consider the needs of the producer

Resources for More Information

10 Reasons to buy local



043- The National Debt and A Legacy of Indebtedness, Servitude, and Poverty

In this show I talk about the National Debt and the legacy of indebtedness, servitude, and poverty that it is leaving.  I answer three questions: What is the extent of the problem?
What caused the problem? and What are some solutions?

  • Nehemiah 5 discusses a similar economic problem

Resources for today's show:

Mises Institute

National Debt Clock

041- Investment Risks

Join me for a short look at the various investment risks and their relationship to various products and investment vehicles.  You can see the relationship in the chart below.  What this shows is that whatever investment you choose you have to be willing to accept the risk of the investment.

Investment risk

So what should you do? Here are some things to consider.

  1. Know the risks associated with your portfolio
  2. Be comfortable with the risks in your portfolio
  3. Try to minimize overall risk by actively managing your portfolio


038- Fifteen Financial Myths

In this show I talk about 15 Financial Myths that I have heard repeatedly over the years.  Buying into these myths could derail your finances and prevent a financial legacy.  Here they are:

1)  A house is a great investment because it always goes up in value

See Chart

The gauge is down about 35% from its peak before the housing bubble burst in 2006




2) This is a risk free investment
3) Bonds are safer than stocks
4) You need life insurance your whole life
5) Life insurance is a good way to save for college tax free
6) Term life insurance is like renting, it is throwing away your money
7) Buy and Hold portfolio is the best investment strategy
8)  If you dollar cost average you don’t need to worry about fluctuations in the market
9) If I had 1,000,000 dollars I would be set for life
10) Money isn’t very important
11) Gold is a good/lousy investment
See article An ounce of gold can buy about what an ounce of gold bought 100 years ago.
12) All 10 year periods in the stock market have made money
Dave Ramsey on his article
1906-1924 18 years had a -4.29% cumulative return
1929-1953 25 years had a 1.69% cumulative return
1965-1981 17 years had a .83% cumulative return
2001-2010 10 year depending on what month you start and end on had a best return of 2.66% and a worst of -2.28% cumulative returns
13) You can never loose your money in an annuity
14) I need a job with benefits
15) Debt can be good if it is used right

Contact The Legacy Podcast

Steve @ thelegacypodcast dot com