Money Expert Shares the Advice He Follows

Financial how-to books come and go - they're published by the hundreds every year. But Peter Grandich, dubbed "The Wall Street Whiz Kid" by Good Morning America's Steve Crowley, says the one he relies on has been around for nearly 2,000 years.

"I get my financial guidance from the Bible," says Grandich, author of Confessions of a Wall Street Whiz Kid (www.confessionsofawallstreetwhizkid.com). "Money and possessions are the second most referenced topic in the Bible - money is mentioned more than 800 times - and the message is clear: Nowhere in Scripture is debt viewed in a positive way."

Grandich, who says his years as a highly successful Wall Street stockbroker left him spiritually depleted and clinically depressed, says the Bible is an excellent financial adviser, whether or not you're religious.

"The writers of the Bible anticipated the problems we would have with money and possessions; there are more than 2,000 references," he says. "Our whole culture now is built on the premise that we have to have more money and more stuff to feel happy and secure. Public storage is the poster child for what's wrong with America. We have too much stuff because we've bought into the myth fabricated by Wall Street and Madison Avenue that more stuff equals more happiness."  He adds, "That's the total opposite of the truth, and the opposite of what it says in The Bible."

What's Grandich's No. 1 most important biblical rule of finance? "God owns everything. You may have bought that house, but He gave you the money to buy it, so it's His."

Some other lessons from the ultimate financial guide?

• Do put money aside for investing: "One of the most revealing parables is Jesus' story about a wealthy master who left three servants in charge of his financial affairs when he went away on a long journey," Grandich says. "When he returned, two of the servants had multiplied the coins for which they were responsible. The third buried his to keep it safe." That last servant ended up out on his ear. The story is a lesson: We must invest our money - and invest wisely.

• Debt's not prohibited, but it should be avoided: The Bible clearly warns that the borrower will be a servant to the lender, but it also instructs us to lend money. That suggests that there are times when it's OK to borrow, but it should not become a way of life. The Bible also instructs us to repay what we've borrowed.

• The more you make, the more you should give. This is a hard one for people caught up in buying bigger and better things, but there are numerous references to charitable giving. The Bible says that it's quite all right to buy the bigger house - but the more you make and spend on yourself, the more you need to give to others. That doesn't include tithing, another very clear demand: God expects you to give 10 percent of your wealth to your place of worship.

• Don't focus on acquiring possessions. There are many, many warnings that accumulating stuff is dangerous. Material things are fleeting and they'll do you no good in the long run. What you put your effort into, that's where your heart will be, Grandich says.

About Peter Grandich

Peter Grandich became renowned in the financial industry when he predicted market crashes and rebounds in The Grandich Letter, a newsletter he created in 1984. It's currently a blog featuring his commentary on the world's economies and financial markets as well as social and political topics. Grandich is co-founder, with former New York Giants player Lee Rouson, of Trinity Financial Sports & Entertainment Management Co., a firm that specializes in offering guidance from a Christian perspective to professional athletes and celebrities.

Lyons, NE - April 25, 2012 - Today the Center for Rural Affairs called upon Senate Agriculture Committee members to adopt crucial amendments to the Farm Bill proposal currently before the committee. They are expected to begin debate on amendments today, Wednesday, April 25th.

"Unfortunately, the farm bill proposal before the Senate Ag Committee slashes investment in rural small business development and value-added agriculture while increasing crop insurance subsidies for some of the nation's largest farms and wealthiest landowners. There are opportunities to fix some of these issues right now, while the Committee debates amendments to the bill," said Traci Bruckner of the Center for Rural Affairs.

According to Bruckner, the amendment* offered by Senator Sherrod Brown (D-OH) and Senator Ben Nelson (D-NE) is an important first step. It would deny farm subsidies to individuals with taxable income over $500,000 and married couples making over $1 million. The money saved would be invested in revitalizing rural communities through small business development, beginning farmer programs, value added agriculture and assistance for small towns in updating water and sewer systems.

Likewise, Bruckner stated that the amendment offered by Senator John Thune (R-SD), Senator Mike Johanns (R-NE), Senator Ben Nelson (D-NE) and Senator Sherrod Brown (D-OH) helps reverse the perverse incentive in current farm policy to break up marginal, erosion prone grasslands.

"Their amendment limits crop insurance benefits and premium subsidies for crops grown on native sod or land that a producer cannot verify has ever been tilled," Bruckner continued.

As the Senate Agriculture Committee begins debating the next farm bill, they will undertake consideration of over 100 amendments offered by members of the committee. According to Bruckner, this is a time when much of the direction of the Senate Farm Bill will be determined.

"Moreover, in today's economy it is more important than ever that the Senate make wise choices," said Bruckner.

She further explained that under current and proposed farm policy, if one corporation farmed an entire state - her home state of Nebraska, for example - then the federal government would pay 60 percent of its crop insurance premiums on every acre, every year, even in times of record profits.

"This does not reflect rural America's priorities or our values. We face a simple choice, either lavish subsidies on mega-farms, or, invest in rural America's future. The best choice is obvious," Bruckner added. "And there will never be a more important time for rural Americans to let their Senators know how they come down on that choice than right now."


* The Sherrod Brown/Ben Nelson Amendment to the farm bill would deny farm payments to individuals with adjusted gross income of over $500,000. The savings would be used for the Rural Microentrepreneur Assistance Program ($25 million over 5 years), Value Added Producer Grant Program ($100 million over five years), beginning farmer programs ($45 million over 5 years), Water and Sewer replacement backlog ($150 million) and RBEG/RBOG business development programs ($10 million over 5 years).

President Should Stop Obstructing Job Creation for America's College Graduates

Iowa City, IA - When President Barack Obama speaks at the University of Iowa campus today, Americans for Prosperity - Iowa (AFP-IA) will be on campus to rally in support of job creation and economic freedom. Americans for Prosperity - Iowa state director Mark Lucas believes the White House should change its policies to make it easier for companies to grow and create jobs.

"A college degree doesn't matter much when there are no jobs available in the economy," says Lucas.

Recent employment data shows that one in two college graduates are unemployed or underemployed and the unemployment rate for 21 to 24 year-olds is over 13 percent.

"The President had an opportunity to support the Keystone Pipeline which would have created thousands of much-needed jobs," said Lucas. "The White House claims they want to lower unemployment. This administration is content to see half a billion dollars wasted on failed companies like Solyndra, while blocking job growth that would come with the Keystone pipeline."

The rally will be held along Grande Avenue on the President's motorcade route. Americans for Prosperity - Iowa will watch the President's speech and discuss it over a pizza lunch at the Wig & Pen restaurant on 1220 Hwy 6 West at 1:00PM. The President is scheduled to speak at the University of Iowa campus today as part of his effort to get Congress to extend an interest rate cap on the federally subsidized Stafford college student loan program.

SPRINGFIELD, IL (04/25/2012)(readMedia)-- As the creed states, a Ranger is a more elite Soldier who arrives at the cutting edge of battle by land, sea, or air. Staff Sgt. Matthew Madiar of Chicago and Sgt. 1st Class Zach Phillips of Portland, Ore., lived the Ranger Creed while competing at the 29th Annual David E. Grange, Jr. Best Ranger Competition at Fort Benning, Ga., April 13 to 15.

Madiar, with the Illinois Army National Guard's Troop C, 2nd Squadron, 106th Cavalry Regiment in Aurora, Ill., and Phillips with the Oregon Army National Guard (Team 50), placed third among 50 two-man Ranger teams. This is the highest a National Guard team has ever placed. The only two National Guard teams that qualified for the competition placed in the top six with only 34 of 50 teams completing the 60-hour competition.

"I was physically and mentally exhausted after the Darby Queen obstacle course," said Phillips. "That was the one and only time I questioned if I was going to make it to the end."

Not only did the team finish, they excelled. Before the obstacle course, Rangers began the competition with a three-mile buddy run that transitioned into a 15-mile foot march. After the obstacle course, the team was flown by helicopter to the urban assault course. Both National Guard teams were in the top five standings for the day. Only 34 teams remained after the first day of endurance events.

Day two began with timed skill events. The high-stress shoot at the Krilling Range was one of the most successful events, said Madiar. The 500-yard course consisted of moving a stretcher with a simulated casualty throughout the obstacle with periodic stops at various ranges to fire five vintage rifles at steel and six-inch targets.

The teams then moved by a Stryker fighting vehicle for eight, round-robin timed stations. The major event of the day was the Tri-Tower Challenge, where competitors climbed a 60-foot wall, 30-foot collapsible ladder and a 20-foot knotted rope, rappelling down in between each climb. Team 49, consisting of National Guardsmen Capt. Robert Killian with the Colorado Army National Guard and 1st Lt. Nicholas Plocar with the Wisconsin Army National Guard, set the course record with a time of 6 minutes, 32 seconds.

Night two finished up with a six-hour night orienteering course, which was the most challenging event, said Madiar. The long distance, time constraints and rough terrain made it the toughest event.

Day three consisted of water events. Competitors jumped from a helicopter into a pond, then swam 100-meters to shore followed by a water confidence course. Once completed, both National Guard teams were airlifted to start the timed leadership skills event where Team 50 (Madiar and Phillips) came out about two and a half minutes quicker then Team 49.

"When it came time, we did everything exactly the way we practiced and it worked out well for us," said Phillips.

The final event of the day, which highlighted how well the two National Guard teams compared to the Active Duty teams, was the three-mile Buddy Run where Team 49 came in first and Team 50 in sixth place.

"All I was worried about was just finishing," said Madiar. "We weren't tracking the standings because they changed so much."

The 10-week intense pre-training program leading up to the competition paid off for the Guardsmen. Team 50 was awarded third place overall for the competition, while team 49 came in fifth.

Madiar and Phillips both said they would like to compete again next year as long as they are partners.

"If it works out, we can capitalize on our success and come back a little stronger and smarter next year," said Phillips.

Command Sgt. Maj. Timothy E. Beck, 33rd Infantry Brigade Combat Team also contributed to this story