“The transfer of wisdom is essential for the healthy transfer of wealth.”
Thoughts from daily Bible reading for today – March 7, 2025
But remember the Lord your God, for it is he who gives you the ability to produce wealth, and so confirms his covenant, which he swore to your ancestors, as it is today. Deuteronomy 8:18
In the U.S. alone, Baby Boomers are expected to pass down an estimated $70 to $84 trillion over the next few decades, a phenomenon known as the Great Wealth Transfer. But what about the Great Wisdom Transfer? Wealth without wisdom can be destructive. Families bicker and fight without a clear vision, mission, and values for the resources entrusted to them. In some situations, siblings cease talking to one another over disagreements on managing inherited wealth. Shouldn’t followers of Jesus model a much higher approach with wisdom and honoring the Lord with their wealth? Prayer and preparation for the Great Wisdom Transfer is essential. Where do you start, and what helpful practices prepare your family for wisdom and wealth?
Have an Ongoing Conversation. Families who talk together learn to grow together and stay together. Avoidance is irresponsible, and it is, indeed, poor stewardship of the Lord’s resources. Discuss the why behind the wealth. Wisdom includes a biblical foundation of values, ethics, and principles contributing to wealth creation. This helps the next generation embrace a sense of purpose and responsibility. Storytelling and family history help younger members appreciate the hard work and sacrifices that built the wealth. Wisdom also has open conversations about wills, trust, and succession planning to avoid future confusion. Grow wise with family gatherings.
Become Fluent in Financial Literacy. Lessons in budgeting, investing, taxation, and estate planning are crucial to prevent mismanagement and potential wealth loss. Without proper education, inherited wealth can easily be squandered. Older family members wisely mentor younger ones in financial and business matters. The mature generation often has valuable perspectives on economic cycles, market fluctuations, and strategic planning. Coaching the younger generation to be patient and use a long-term approach can help them make sound financial decisions rather than seeking short-term gratification. Wisdom is financially fluent.
Experience Generosity Now. What greater delight than to see your children and grandchildren experience the joy of generosity. Younger generations may have different views on wealth distribution and social impact. They need the freedom to follow their giving passions. By transferring wisdom, older generations can guide heirs on responsible giving, donor-advised funds, private foundations, and creating a positive legacy beyond financial success. Family mission trips can also be a bonding experience of generosity together through serving together. Wise families value being generous together and respecting each other’s areas of interest.
Intentional Spiritual Growth. When passing wisdom to the next generation, intentional spiritual growth is just as important as financial planning. Without a strong faith foundation, wealth can lose its true purpose. Families should actively nurture faith, values, and character alongside money management skills. Consider attending together a Celebration of Generosity or a Journey of Generosity. Read and discuss Howard Dayton’s Charting Your Legacy. Most of all model for one another loving the Lord through worship at church, bible study, and daily prayer.
The Great Wisdom Transfer is God’s heart for the Great Wealth Transfer.
“Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment. Command them to do good, to be rich in good deeds, and to be generous and willing to share” (1 Timothy 6:17-19).
Prayer
Lord, guide me to share wisdom with the next generation. Help me pass down faith, values, and understanding, so they steward their blessings with purpose and integrity. In Jesus’ name, Amen.
Application
Schedule a family meeting to discuss the transfer of wisdom and wealth.
Related Reading
Proverbs 3:9-10, 13:11, 22:1; Ecclesiastes 5:10; Matthew 6:19-21
Worship Resource
We The Kingdom: God is on the Throne
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