Talkshow Thursday: Welcome Back Ruth Wuwong!

Invest in Education

By Ruth Wuwong

In my book, Are Your Health and Finances Linked? A Christian Entrepreneur’s Quest (released in 12/2022, https://www.amazon.com/dp/B0BQ5JXFYY), I talked about my investment strategies. Here is an excerpt from the book. I’ve also made a video about the topic. If you’re interested, please click this link, https://www.youtube.com/watch?v=9WC9DxuCl2Y. Before we invest in the stock market and other productive assets, I must emphasize that investing in education to broaden your knowledge will help you achieve your financial goal in the long run.

I mentioned previously that my husband, Ken, is a retired pastor, and I’m a biochemist by training. A few years after we got married, the amount in our combined checking account improved a bit, from less than fifty dollars to a few hundred dollars.

The pastor’s pay wouldn’t impress anyone, but it was decent. Working for a pharmaceutical company, I made twice as much as Ken. With our combined income, why did we still struggle to pay bills every month?

I realized both of us knew nothing about finances.

After many prayers, I sat my dear hubby down for a chat. “One of us must learn how to manage money. You or me? Take your pick.”

The answer? Me.

Ken had no interest in money at all. Otherwise, he wouldn’t have quit his civil engineering job to become

Pixabay/
David Schwarzenberg

a pastor. In the beginning, I went to the library and read quite a few books about the stock market, bonds, mutual funds, etc. The more I studied, the more frustrated I felt. In the end, I concluded that if I wanted to do it right, I should try to get a complete education. So, I bit the bullet and entered the University of Illinois for my MBA degree in finance. I must admit that those years were very challenging because I worked during the day and attended school at night. Even as an in-state student, the tuition fees became a burden. I had to forego a few “must-haves.” We grew most of our vegetables in the summer, seldom ate out, and only bought second-hand furniture and cars. I learned to purchase my formal outfits (e.g., two-piece suits) at Goodwill and the Salvation Army.

After four years and about $20,000 out of my pocket, I completed the program. Boy, was it worth it!

I didn’t change my career path and mainly used my knowledge to manage our own finances. And what a difference it made. In a short while, the combined number of our checking, saving, and brokerage accounts increased to more than $50,000.

Along the way, we not only learned to manage our money but also gained some precious insights.

First, owning things brings short-lived pleasure, but knowledge, like experience, stays with us for a lifetime.

Second, learning broadens our perspective and enriches our worldview. Getting skills related to your job or about how to manage money is outstanding. Yet obtaining new knowledge on various subjects (e.g., gardening, different cultures and cuisines, music appreciation, a new language, etc.) unrelated to your work can make your life more interesting and enhance your relationship with others.

Pixabay/Pexels

Third, don’t attempt to keep up with the Joneses. Stick to your principles and be content. As an example, I used to have a subordinate who drove a Mercedes. At one point, especially after we had acquired a sizable asset, I asked Ken, “Should we consider replacing our old Toyota Camry with a Mercedes?”

My wise hubby replied, “Why? Is it necessary? It’s not just the upfront payment. The additional expenses, such as insurance, repairs, and maintenance, are all higher.”

Yeah, he was right. 

About Ruth:

While in high school, I used to go to the library, read every book on one shelf, and then move on to the next. Reading and writing are very important to me. It seems I have a longing that can’t be satisfied by reality. I love to escape into books and become someone graceful, witty, and popular.

Currently, I work for a small biotech company and have published 120+ scientific books and papers (under a different name). I’m a latecomer to creative writing. So far, I’ve published three books. Here are the links for my books:

The Way We Forgive (fiction): https://www.amazon.com/dp/B0BQ5LNLNB

Love at the Garden Tomb (fiction): https://www.amazon.com/dp/B0B8MK77WK

Are Your Health and Finances Linked? (Nonfiction): https://www.amazon.com/dp/B0BQ5JXFYY

I’m married to my wonderful husband, a retired pastor who encourages me to pursue my dreams. We served together at three different churches from 1987 to 2020.

I would love to connect with you. You can drop me a note anytime at http://www.ruthforchrist.com.

Talkshow Thursday: Welcome Ruth WuWong

About Money

By Ruth WuWong

In my book, Are Your Health and Finances Linked? A Christian Entrepreneur’s Quest (released 12/2022, https://amzn.to/3KYsV5F), I talked about my investment strategies. An excerpt from the book is below. 

I’ve also made a video about the topic. If you’re interested, please click this link, https://www.youtube.com/watch?v=8W2wr0_rctY. When I studied at the University of Illinois for my MBA in finance, I learned something crucial, not from my textbooks but from a professor’s comment. “Making money is important, but how to manage what you have is even more critical.”

Financial health depends on what you do in both areas.

All too often, we hear about big lottery winners who later lost it all.

I read this piece of news online some time ago with interest. “Five years after a Kentucky resident won a $27 million jackpot, he was penniless and living in a storage shed with his wife. The couple squandered their fortune on the typical goodies that sink so many lucky winners. They bought dozens of high-end cars, mansions, and a plane…”

In my mind, managing my money takes precedence over bringing in new money. In this booklet, I’ll share my tips on the management side and also touch upon investment.

Some questions may pop up at the mention of investment.

Should Christians invest in the stock market? Is it like gambling? What does the Bible teach about investing?

Remember Jesus’ parable about the three servants and their given talents? In Matthew 25:14-30, Jesus

Pixabay/S K

talked about a man who, before he left for a trip, summoned his three servants and entrusted them with talents in various amounts according to their abilities. The first two individuals doubled their money, while the third person dug a hole in the ground and hid his talent. When the master returned, he gave the third servant a hard time.

People often ask, “What did the third servant do wrong? Wasn’t it the right thing to do to keep the master’s entrusted treasure safe by burying it? Why did he get reprimanded? What would the master say if the other two invested and lost their money?”

My reply below is based on my understanding of God’s attributes. The master had the entire world under his sovereignty. Loss or gain wasn’t his primary concern. What he wanted from the three servants was their obedience to his command to make good use of what they had. Risks and challenges are critical ingredients of the abundant life that the Lord has promised us.

Everything, including my life, is entrusted to me temporarily. My responsibility as a manager is to well use what God has given me according to His guidance.

So, I not only invest in stocks but also trade options.

Pixabay/Pexels

In my MBA program, I learned a lot about different techniques related to financial management, yet three key principles from my professors benefitted me more than anything else.

The first principle: The US market is very efficient. When a piece of news reaches you, likely most people have already learned about it. In other words, don’t believe what others tell you about which stock to buy and don’t invest in anything you don’t understand.

The second principle: At any given time, the pool of money is fixed. When someone loses money, where does the money go? To another person. If you want to make money, pay attention to those who constantly lose money and try to do the opposite.

The third principle: Risks and returns always go hand-in-hand. Higher returns mean greater risk. There is no such thing as a no-risk investment. Even money in your checking/saving account, seemingly safe on the surface, encounters two risks: opportunity cost (the failure to use cash in an economically efficient way) and inflation.

I derive most of my practical investment strategies based on these three pieces of advice.

About Ruth:

While in high school, I used to go to the library, read every book on one shelf, and then move on to the next. Reading and writing are very important to me. It seems I have a longing that can’t be satisfied by reality. I love to escape into books and become someone graceful, witty, and popular.

Currently, I work for a small biotech company and have published 120+ scientific books and papers (under a different name). I’m a latecomer to creative writing. So far, I’ve published three books.
Here are the links:

The Way We Forgive (fiction): https://amzn.to/3y6m56F

Love at the Garden Tomb (fiction): https://amzn.to/3yccRFM

Are Your Health and Finances Linked? (Nonfiction): https://amzn.to/3KYsV5F

I’m married to my wonderful husband, a retired pastor who encourages me to pursue my dreams. We served together at three different churches from 1987 to 2020. I would love to connect with you. You can drop me a note anytime at http://www.ruthforchrist.com.