e. Funding strategy: You cannot invest without having the funds to invest, and you should not invest with borrowed money. Where will you get the funds for your investments? In a previous section on Budgeting, I recommended that you always pay the Lord first—that you pay your tithing and other offerings before anything else and then pay yourself a minimum of 10 percent—hopefully more (20 percent for my students).

Most financial planners will recommend that you save a minimum of 10 percent when you are young, and they recommend that this amount should increase as you get older. Once you have set aside the recommended 10–20 percent each month, I hope that you invest this money wisely according to your personal investment plan.

How will you manage the funds for your various financial goals? One way to save for different financial goals is to set up different investment vehicles for each of your financial goals. You can use a 401(k) plan to save for retirement, a taxable account to save for your children's missions and weddings, and 529 funds and Education IRAs to save for your children’s educations. You can also set up investment accounts to save for an emergency fund, a house down payment, or a car fund. If you pay yourself at least 10 percent (hopefully more), you can divide this money among your financial goals; for example, you could allocate 5 percent to your 401(k) plan, 4 percent to your investment fund, and 1 percent to your 529 funds.