On the Uncertainty of Riches, Part 2
Around a year or so ago, I wrote a “From Pulpit and Paper” entitled, “On the Uncertainty of Riches.” The title came from 1 Tim 6:17, which reads, “As for the rich in this present age, charge them not to . . . set their hopes on the uncertainty of riches.” The context was the 2020 stock market crash. Right around the time that COVID was heating up, the financial markets took a significant hit. Instances like these show us that what the Word of God teaches: wealth is uncertain.
It’s helpful to revisit the topic of the uncertainty of riches. The example this time is monetary inflation. I read an article this week entitled, “Inflation speeds up in April as consumer prices leap 4.2%, fastest since 2008.” This article states, “Inflation in April accelerated at its fastest pace in more than 12 years.” This means that my paycheck has 4.2% less value than it did previously. Ouch! I need a raise. Just teasing. 😊
Inflation is nothing new. Every year the US dollar loses value. According to the “US Inflation Calculator,” the value of $1 in 1913 equals $26.98 dollars today. If the Lord tarries, who knows how much $1 today will be worth in 100 years. A lot less than it does now. The US dollar will continue losing its value.
Inflation means that as you make money, you’re losing it at the same time. Inflation means that, if you hide your money under your mattress for 30 years, it might become worthless. Inflation means that one moment you might be rich and the next moment you’re not. Inflation means that riches are uncertain. Scripture is true. Money is uncertain. Rather than setting our security upon the dollar, which loses it’s value, set your hope “on God, who richly provides us with everything to enjoy” (1 Tim 6:17).