Comments on: Getting Started in Investing, part 3 http://adammclane.com/2009/06/03/getting-started-in-investing-part-3/ Wed, 23 May 2012 16:55:00 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: youth ministry http://adammclane.com/2009/06/03/getting-started-in-investing-part-3/#comment-5794 youth ministry Thu, 25 Jun 2009 12:26:11 +0000 http://adammclane.com/?p=4493#comment-5794 Every should know about cola-cost of living adjustment.it is essential. Every should know about cola-cost of living adjustment.it is essential.

]]> By: Linkworthy - 6/7/09 | MattCleaver.com http://adammclane.com/2009/06/03/getting-started-in-investing-part-3/#comment-5651 Linkworthy - 6/7/09 | MattCleaver.com Sun, 07 Jun 2009 16:03:37 +0000 http://adammclane.com/?p=4493#comment-5651 [...] Youth Ministry Salaries - Adam McLane posts the third part in his series on personal finance for youth ministers. Some great ideas here. [...] [...] Youth Ministry Salaries – Adam McLane posts the third part in his series on personal finance for youth ministers. Some great ideas here. [...]

]]> By: Ben http://adammclane.com/2009/06/03/getting-started-in-investing-part-3/#comment-5639 Ben Fri, 05 Jun 2009 01:50:20 +0000 http://adammclane.com/?p=4493#comment-5639 Thanks for the post - I am 27 and been in the ministry for 3 years and this is the first time I have even heard the term COLA. Thanks for the post – I am 27 and been in the ministry for 3 years and this is the first time I have even heard the term COLA.

]]> By: Anonymous http://adammclane.com/2009/06/03/getting-started-in-investing-part-3/#comment-5638 Anonymous Thu, 04 Jun 2009 17:07:25 +0000 http://adammclane.com/?p=4493#comment-5638 This is good stuff, but not sure how practical. In THIS economy I don't know how well leadership is going to be willing to listen to staff complaining about not getting paid enough. I took a $3K pay cut this year because our overstaffed church chose to not eliminate jobs and instead, cut benefits. Only not everyone was effected. Myself and one other guy were the only ones that got hit this bad. And NO ONE got a COLA. I would have been thankful for a DIET cola! And as frustrated as I am, I am glad to have a job. I'm glad no one lost theirs. But I have yet to serve a church that was serious about taking care of thier youth pastor. Again, I am glad to have a job. Glad to have benefits. And I have friends that are really struggling and they would be MORE than glad to have my job and my pay, even with the lack of COLA and the cut in bennies. So I live in this tension of feeling undervalued, but grateful in this economy to have steady pay. Of course that doesn't mean that I'm not looking. Me and it looks like a LOT of youth pastors. (Maybe your next series should be about finding a job! ;^) ) Thanks adam. Sorry for the rant and thanks for the topic. This is good stuff, but not sure how practical. In THIS economy I don’t know how well leadership is going to be willing to listen to staff complaining about not getting paid enough.

I took a $3K pay cut this year because our overstaffed church chose to not eliminate jobs and instead, cut benefits. Only not everyone was effected. Myself and one other guy were the only ones that got hit this bad. And NO ONE got a COLA. I would have been thankful for a DIET cola!

And as frustrated as I am, I am glad to have a job. I’m glad no one lost theirs. But I have yet to serve a church that was serious about taking care of thier youth pastor.

Again, I am glad to have a job. Glad to have benefits. And I have friends that are really struggling and they would be MORE than glad to have my job and my pay, even with the lack of COLA and the cut in bennies.

So I live in this tension of feeling undervalued, but grateful in this economy to have steady pay. Of course that doesn’t mean that I’m not looking. Me and it looks like a LOT of youth pastors. (Maybe your next series should be about finding a job! ;^) )

Thanks adam. Sorry for the rant and thanks for the topic.

]]> By: adam mclane http://adammclane.com/2009/06/03/getting-started-in-investing-part-3/#comment-5636 adam mclane Thu, 04 Jun 2009 01:28:46 +0000 http://adammclane.com/?p=4493#comment-5636 Jason- I think the key is honesty. In most cases suspending COLA or even a raise is really a ministry choice they are making. They are saying that investing in the nursery or vehicles or a landscaping contract while forgoing a contract they entered into with you. In 99% of cases they COULD take care of their staff if they really wanted to, but are short-changing you because they know they can get away with it. I think calling a spade a spade is really the only option out there. At the end of the day, you have to decide if the income you receive is enough for the labor you provide. (Since most ministry staff are independent contractors of the church, filing as self-employed persons.) If they cannot meet what you need to survive long term, it's best to get on the horse and ride off into the sunset IMO. Jason- I think the key is honesty. In most cases suspending COLA or even a raise is really a ministry choice they are making. They are saying that investing in the nursery or vehicles or a landscaping contract while forgoing a contract they entered into with you. In 99% of cases they COULD take care of their staff if they really wanted to, but are short-changing you because they know they can get away with it. I think calling a spade a spade is really the only option out there. At the end of the day, you have to decide if the income you receive is enough for the labor you provide. (Since most ministry staff are independent contractors of the church, filing as self-employed persons.) If they cannot meet what you need to survive long term, it’s best to get on the horse and ride off into the sunset IMO.

]]> By: Jason http://adammclane.com/2009/06/03/getting-started-in-investing-part-3/#comment-5634 Jason Wed, 03 Jun 2009 15:23:27 +0000 http://adammclane.com/?p=4493#comment-5634 As a financial professional who's been on staff in churches I have to say, I love this post and couldn't possibly agree more! As ministers, we're too often willing to 'take one for the team', especially due to the volunteer environment we work in. But pay cuts are going to cause serious stress and problems that will last a LONG time. Remember, your responsibility is first to your family, then the rest of the church (I Tim 5:8). You can't help other people if you can't make ends meet. If the ministry role you play is important to the church, the leadership will find a way to pay. You are caring for the flock, and the church MUST be willing to care for you. If not, I urge you to find a place where your hard work is truly valued. The other thing I really liked about this post is this puts everything out on the table, calling a spade a spade, with no vague spots. Churches are often known for their lack of communication, and something this important needs to be clearly defined, so don't be afraid to ask tough questions. As a financial professional who’s been on staff in churches I have to say, I love this post and couldn’t possibly agree more! As ministers, we’re too often willing to ‘take one for the team’, especially due to the volunteer environment we work in. But pay cuts are going to cause serious stress and problems that will last a LONG time. Remember, your responsibility is first to your family, then the rest of the church (I Tim 5:8). You can’t help other people if you can’t make ends meet. If the ministry role you play is important to the church, the leadership will find a way to pay. You are caring for the flock, and the church MUST be willing to care for you. If not, I urge you to find a place where your hard work is truly valued.

The other thing I really liked about this post is this puts everything out on the table, calling a spade a spade, with no vague spots. Churches are often known for their lack of communication, and something this important needs to be clearly defined, so don’t be afraid to ask tough questions.

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