The Rich Fool Balancing Financial Independence and Radical Generosity
The first time my son asked whether we’re rich, my wife and I sheepishly deflected it and mumbled something about being middle class. But I felt guilty about that answer, like we were lying. At that moment, I realized that we are rich. And we need to own that. The next time he asked, I confessed: “Yes, son. We are rich.” It’s not a lesson most parents would teach their children, but it’s an important confession that will impart financial wisdom that lasts a lifetime.
Most personal finance enthusiasts embrace frugality, but there’s also a downside to chronic cost-cutting. Frugality isn’t just about spending less and saving more; it’s a tool that empowers you to spend money on the things in life that have meaning and purpose – instead of empty possessions that don’t bring fulfillment.
There are plenty of Bible verses on money, but the parable of the rich fool jumps out because of its relevance to how we structure our personal finances in 21st Century America. The parallel of the rich landowner in Luke 12 to our modern philosophy of wealth accumulation serves as a stern warning about the dangers of excess.
As I developed The Rich Fool, I attempted to create a giving formula. I wanted to create a framework that would introduce discipline in climbing the ladder, encourage spending limits and discourage over-consumption, and make unnecessary barn-building difficult. I was excited about my new giving framework, until I actually attempted to put it into practice. I soon realized I was trying to create a formula for something that should be a heart issue.
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