Steadfast Wealth Planning Podcast

Stewardship: Aligning Money with Christian Values

• Cody Stansell • Episode 8

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How Does Christian-based Financial Planning Differ From Traditional Financial Planning?

Money talks, but does yours speak the language of faith? In this thought-provoking episode, Cody Stansell, senior wealth advisor at Steadfast Wealth Planning, pulls back the curtain on how Christian-based financial planning differs from conventional approaches in meaningful ways.

At its foundation lies the stewardship mindset—recognizing that our resources aren't truly ours, but entrusted to us for wise management. Cody explores three key areas where faith transforms financial practice. First, he breaks down Biblically Responsible Investing, explaining how portfolios can be filtered to exclude companies involved in activities contrary to Christian values without confusing faith-based investing with politically-motivated approaches. For Christians concerned about where their investment dollars flow, this provides practical guidance for aligning portfolios with personal convictions.

Transitioning to retirement challenges, Cody addresses a common question from Christian retirees: how to tithe without regular income. He offers two straightforward approaches—tithing on retirement income streams or tithing based on monthly spending—while cautioning against tying giving directly to investment performance. The conversation shifts naturally to legacy planning with a stewardship perspective, encouraging intentionality about how our resources can bless others both during our lifetime and beyond. Rather than simply accumulating wealth until death, Cody advocates experiencing the joy of generosity while still living through foundations, donor-advised funds, and meaningful family experiences.

Grounded in 1 Corinthians 15:58, Steadfast Wealth Planning embodies being "steadfast, immovable" amid market volatility and media-driven fear. This conversation reminds us that financial planning at its best isn't just about building wealth, but cultivating a life of purpose and faith. 

Ready to align your finances with your faith? Call 469-606-2040 to explore how stewardship principles can transform your approach to wealth.

To learn more about Steadfast Wealth Planning visit:
https://www.SteadfastWealthPlanning.com
Steadfast Wealth Planning
5550 Granite Pkwy, STE 270
Plano, TX 75024
469-606-2040

Speaker 1:

Welcome to the Steadfast Wealth Planning Podcast, where faith and financial wisdom come together. Hosted by Cody Stansel, owner and senior wealth advisor, we provide comprehensive Christian-based financial planning to help families, individuals and business owners build a life they're proud to live. From investment management and tax planning to preparing for retirement, we're here to guide you with clarity, integrity and purpose. Let's get started.

Speaker 2:

Christian-based financial planning doesn't just ask what's the smartest move financially. In this episode, cody explores how faith-based principles guide every step of the planning process, from stewardship to legacy. Welcome back everyone. I'm Sofia Yvette, co-host slash producer, back in the studio with Cody Stansel, senior wealth advisor at Steadfast Wealth Planning. Cody, how's it going today?

Speaker 3:

at Steadfast Wealth Planning Cody, how's it going today? Hey, sophia, I'm doing well. Summer is coming along and took a family vacation a couple weeks ago, so that was good. And yeah, here we are back at it.

Speaker 2:

Oh, lots of fun. Well, happy to have you back, cody, now in this conversation. This is going to be one that goes beyond dollars and cents. It goes straight to the heart of what we value most. How does Christian-based financial planning differ from traditional financial planning?

Speaker 3:

Yeah, we have a stewardship mindset, like you mentioned before, when it comes to running our practice advising our clients, like you mentioned before when it comes to running our practice advising our clients. So stewardship is all about being wise with what someone has entrusted you. So our view is it's obviously not our money, it's our client's money, but they have entrusted us to manage it wisely for them on their behalf. But for my clients that want to have a Christian aim for how they handle their money, there are a few key areas that are a little bit different than just if you Google something you know from a Christian landscape. Three topics that we'll go over today. You know there's some other ones, but the three that I want to talk about Biblically responsible investing. You know how can we invest our money with a little bit more Christian view on it. Second one is tithing in retirement. I get this from a lot of retirees that life is different. We don't have a paycheck earned income anymore. Hey, cody, how do we go about tithing in retirement? And then the last one is having a legacy mindset, just a little bit different than just traditional American estate planning. If you have a Christian view and a stewardship view, that legacy mindset's a little bit different. First off, yeah, biblically responsible investing. If you've ever thought I don't like how some of these companies handle their business or what they do with their money, I'd rather not invest and be a shareholder in some of these companies. I'd rather invest my money a little bit more wisely, based on my beliefs.

Speaker 3:

Biblically responsible investing, or faith-driven investing as some folks refer to it, as is a biblical approach to investing, where you align your investment decisions with your Christian values.

Speaker 3:

So if you have an investment portfolio, we have investment portfolios that screen out certain companies that go against Christian values. Think of this as selecting investments with a biblical filter, if you will. With these filters, they may not buy stocks or bonds of companies that directly support or in the business of abortion, adult entertainment, maybe this company conducts business with a terrorist organization or nation gambling, drug use, right? So most of the common ones, clients that don't want their dollar supporting these kind of companies, have these options, right. You don't have to just invest in every mutual fund and you're with every single company. So I do want to warn folks this isn't a politically driven investing approach. There is some overlap I get from folks that want to have a biblically responsible view, and then, the more we dive into it, it's really more. Oh, they're trying to invest based on their political belief, which that's an option too, but that's just different than what I'm referring to today.

Speaker 2:

There's a lot of misunderstandings between Christian values and certain red or blue lens when it comes to your investing. I was going to ask you too, cody wouldn't principle one have to be have to do with tithing? Is that kind of a misconception?

Speaker 3:

Yes, yeah, very much so. So I get this question a lot, like I said, hey, cody, I don't technically have an income anymore, what you know. How do I go about tithing? Even the term retirement isn't mentioned much in the Bible. If you think about it, it's a relatively new concept in the last 100, 150 years even being able to retire For a vast majority ever since we've been humans on this earth you just kind of just work until your body doesn't allow you to, and then you live with your kids or grandkids and that's kind of it, right. So retirement's not really a thing. So the Bible doesn't have much to say on tithing in retirement, because retirement, like I said, wasn't really a biblical concept.

Speaker 3:

But the two ways I recommend and what I see most from my clients are these approaches Tithing on what is coming in. So I have Social security, I take withdrawals from my IRA or my 401k, maybe I have a pension, add up all those income streams and just tithe on that number, right? So that's the simplest, that's what I recommend. Or, if this way is too uneven for you, you know I have some clients that don't take a distribution from their retirement account for four straight months and then take a bigger one month, five, which is perfectly fine. But if that way of tithing is a little bit too lumpy if you will and uneven. The other approach is just tithing on what you spend each month. So once again, even the term tithe a tenth of your blessings. If you don't have true blessings anymore from a job, then really what you're spending in retirement is a good approach too. So if you're spending $5,000 a month, tithe on that number. That's just an easier way. Our spending is more even. So it's easier way to give to our church or charity based on that number.

Speaker 3:

What is hard is I have some folks ask me this one and I don't really recommend it. It gets tricky if you tithe only on your investment growth. So some clients will say, okay, my investment's made X, I'll just tithe on that number, which you can. I don't recommend it. As we all know, investments good one year, bad the next year, and so if you're okay giving more in one year and then nothing the next year, you know that makes it very uneven and once again, the whole purpose of a tithe is give a percentage of your blessings. So I discourage that approach. Also, it's easy to slip into the okay, should my investments be more aggressive? Because I'll make more, therefore I'll tithe more. Or I'm so conservative with my investments Now I'm not tithing as much as I used to. Now you're kind of playing that game, which is a different, difficult game to play in retirement as well.

Speaker 3:

And the last one is leaving a legacy mindset. So being a good steward of what the Lord has blessed you with today and tomorrow is what we're called to do, right If you share the same faith. So having your estate plan updated and having a plan for your money later in life, after your life, is what leaving a legacy is all about. So I also see this a lot too.

Speaker 3:

Giving back whether it's to children, church, favorite charity while you're still living, and not waiting necessarily until you pass away, is also something we discuss with clients. For example, I have a client four million dollars plus. They're not close to running out of money, they're not close to spending all of it. So we've discussed hey, instead of just waiting, giving nothing throughout the rest of your life, and then lump sum to kids or church, whatever it may be, let's give a little bit each and every year. Why not give a little bit more while you're living or spend a little bit more while you're living on the grandkids, taking more trips, maybe not for your benefit, but benefiting others. If you truly want to pass away with $10 million plus, and that's your plan, that's great. Nope, no problem.

Speaker 3:

But I see too many clients and folks just float and they don't really have a true legacy plan. They haven't really sat down and okay, how do I want to bless myself, my kids, my heirs, my church with this blessing so you can bless others while you're still living right. We open foundations for clients, donor advice funds to bless other others while you're still living right. We open foundations for clients, donor advice funds to bless other nonprofits while we're still here, and so that's another angle, too is seeing your blessings while you're still here. So those are the three big ones. Obviously, there's more. In saying all that I do want to preface. If you do none of these that I mentioned above biblically responsible investing or tithing and retirement, like I showed an example doesn't mean you're not a good Christian. That's not what that means, right. But if you want to gear your finances a little bit more toward the stewardship mindset, these are obviously just some examples.

Speaker 2:

Now final question for you today, cody what are some key scriptures that influence the way you guide clients in their financial decisions?

Speaker 3:

Great question. Our firm motto on our website is First Corinthians 1558. And I think it's a good one. It has our company name in it. That's why it's our firm motto. That's why it's our firm motto. But First Corinthians 1558 is therefore, my beloved brothers, be steadfast, immovable, always abounding in the works of the Lord, knowing that in the Lord your labor is not in vain. So we like that scripture, especially from an investing standpoint being steadfast and immovable, no matter what the market does, knowing the Lord has a plan. He's entrusted us to meet with you, sit down with you, talk through that plan a little bit more, and being steadfast, not easily swayed by the world or the news or the media, because they're obviously driving a lot of fear and a lot of hype. So being steadfast, we think, is a great way to live life in general, but especially with your finances.

Speaker 2:

Amen, Cody. Now, thank you for reminding us today that financial planning isn't just about building wealth. It's about building a life rooted in purpose and faith. Looking forward to our next conversation. Catch you next time, Cody.

Speaker 3:

Thanks, Sophia Call 469-606-2040.

Speaker 1:

Smart planning Christian values a life well lived. We'll see you next time.