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Building Wealth for Building the Kingdom: A Financial Planning Guide for Latter-day Saint Families
Building Wealth for Building the Kingdom is a simple, practical guide to help LDS families organize their personal financial plans to meet their unique goals. The book provides simple answers to questions much should I be saving each month for my son's mission?How much should I be saving each month for my children's college education?How can I save enough to be able to retire while I'm healthy enough to serve a mission?Avoiding tips on pinching pennies, the book focuses on opportunities to save thousands or tens of thousands of dollars by making smart moves with big decisions, like home and car purchases. Mormon families will appreciate the gospel-centered, scripture-based focus on putting tithing at the center of a financial plan. Building Wealth for Building the Kingdom will help prepare families to enjoy the benefits of their labor while simultaneously contributing to the growth of Church.About the D. Thorpe brings a broad perspective to financial planning, having owned and operated an investment-banking firm, which included an investment advisory business, a mortgage brokerage and having served in a variety of corporate finance positions. Presently, Devin serves as a business professor at South China University of Technology in Guangzhou, China on behalf of Brigham Young University’s Kennedy Center China Teachers program. Previously, he served as the Chief Financial Officer for the multinational company MonaVie, listed in Inc. Magazine’s 2009 Inc. 500 as the 18th fastest growing company in America and, at $834 million in revenue, the third largest company on the list. Prior experience includes two years working on the staff of the U.S. Senate Banking Committee during Utah Senator Jake Garn’s tenure. He also served briefly in Utah State Government, working at USTAR under Governor Jon Huntsman.He earned an MBA with focus in Finance and Accounting from Cornell University’s Johnson Graduate School of Management. He completed his undergraduate degree in finance at the University of Utah, where he later worked as an adjunct professor of finance. In 2006, Devin was recognized by the David Eccles School of Business at the University of Utah as a Distinguished Alum.
140 pages, Kindle Edition
First published January 10, 2012
110 people are currently reading
263 people want to read
About the author
Devin D. Thorpe
21 books29 followersDevin Thorpe thinks he is the luckiest person alive. After being “let go” from the best job he’d ever had—as the Chief Financial Officer of the multinational food and beverage company MonaVie—he and his wife ended up living in China for a year where he wrote Your Mark On The World and embarked on the career he’d always wanted and hadn’t dared dream.
Now, as an author and blogger for Forbes Devin writes about the things that inspire him, mostly stories of people who are making a positive difference in the world and how we can all be more like them. His current life isn’t much like his past. As an entrepreneur, Devin ran—at separate times—a boutique investment banking firm and a small mortgage company. He served as the Treasurer for the multinational vitamin manufacturer USANA Health Sciences years before becoming CFO for MonaVie.
Devin squeezed in two brief stints in government, including two years working for Jake Garn on the U.S. Senate Banking Committee Staff and another year working for an independent state agency called USTAR, where he helped foster technology entrepreneurship during Governor Jon Huntsman’s administration.
Devin is proud to be a Ute, having graduated from the University of Utah David Eccles School of Business, which recognized him as a Distinguished Alum in 2006. He also earned an MBA at Cornell University where he ran the student newspaper, Cornell Business.
Today, Devin channels the idealism of his youth, championing social good, with the loving support of his wife, Gail. Their son Dayton is a PhD candidate in Physics at UC Berkeley (and Devin rarely misses an opportunity to mention that).
Now, as an author and blogger for Forbes Devin writes about the things that inspire him, mostly stories of people who are making a positive difference in the world and how we can all be more like them. His current life isn’t much like his past. As an entrepreneur, Devin ran—at separate times—a boutique investment banking firm and a small mortgage company. He served as the Treasurer for the multinational vitamin manufacturer USANA Health Sciences years before becoming CFO for MonaVie.
Devin squeezed in two brief stints in government, including two years working for Jake Garn on the U.S. Senate Banking Committee Staff and another year working for an independent state agency called USTAR, where he helped foster technology entrepreneurship during Governor Jon Huntsman’s administration.
Devin is proud to be a Ute, having graduated from the University of Utah David Eccles School of Business, which recognized him as a Distinguished Alum in 2006. He also earned an MBA at Cornell University where he ran the student newspaper, Cornell Business.
Today, Devin channels the idealism of his youth, championing social good, with the loving support of his wife, Gail. Their son Dayton is a PhD candidate in Physics at UC Berkeley (and Devin rarely misses an opportunity to mention that).
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Displaying 1 - 22 of 22 reviews
September 20, 2021
Nothing really new to me. Maybe a good book for a young couple starting out.
May 20, 2012
This is a First-Reads give-away book. I was pleasantly surprised by this book. It does not read like a text book. It flows very well and is very informative. It has excellent financial advice for families. The target audience is in the title and each chapter has a quote from a prophet, often Brigham Young. Several of the topics are LDS specific like saving for an 18 or 24 month mission for a child when they reach the appropriate age. However, the financial advice is good for anyone trying to save money and invest in the future. I do not believe that the religious references are so much that they would put off someone who is not LDS. Just skip the section on saving for a mission and the quotes in the chapter headings and the rest of the book is just good financial planning.
My favorite part of the book is the fact that there are several tables and worksheets so that you can plan for your specific situation. For example there is a table for how much you need to save each month if your child will be going on a mission in the year 20XX and another for college. There are tables outlining how much to save for your retirement and a worksheet to help you put everything together.
Thorpe also explains different investment opportunities and provides pros and cons to each. He does not tell you how to invest. He simply provides the information so that you can begin to make an informed decision about how to invest your money.
I recommend this book to any religious family who would like to start saving for the future but is not sure how to get started.
My favorite part of the book is the fact that there are several tables and worksheets so that you can plan for your specific situation. For example there is a table for how much you need to save each month if your child will be going on a mission in the year 20XX and another for college. There are tables outlining how much to save for your retirement and a worksheet to help you put everything together.
Thorpe also explains different investment opportunities and provides pros and cons to each. He does not tell you how to invest. He simply provides the information so that you can begin to make an informed decision about how to invest your money.
I recommend this book to any religious family who would like to start saving for the future but is not sure how to get started.
November 2, 2012
Building Wealth for Building the Kingdom tackles the problem many are having in managing finances. I will admit that this is one of the things that has been plaguing me lately.
This book takes a practical approach to a tough subject. While it is written primarily to an LDS reader, I feel that there are many ways that this can help any family/person in need of solid advice. While the lessons are not new to me, it is always good to be reminded on how to succeed in managing finances. It is good to rededicate myself and family to the principals discussed.
Financial security is something that we can obtain, if we learn to budget and look at wants vs. needs. This book looks at financial planning and the author even suggests finding a good one who can help individuals work within their own budget.
Thanks Devin for reminding me what I really need to be doing to help my family find stability in an unstable economy.
This book takes a practical approach to a tough subject. While it is written primarily to an LDS reader, I feel that there are many ways that this can help any family/person in need of solid advice. While the lessons are not new to me, it is always good to be reminded on how to succeed in managing finances. It is good to rededicate myself and family to the principals discussed.
Financial security is something that we can obtain, if we learn to budget and look at wants vs. needs. This book looks at financial planning and the author even suggests finding a good one who can help individuals work within their own budget.
Thanks Devin for reminding me what I really need to be doing to help my family find stability in an unstable economy.
June 12, 2012
Fantastic book that provides good general advice and deals with financial matters unique to LDS families. I love the concise recommendations. You don't have to read six stories and 14 pages to get a basic point: in this book, the point is made simply and concisely. I've read various books on personal finances, but if I could have one book, this would be the one.
May 13, 2012
This is an easy-to-read book full of practical applications and examples. I have already begun implementing many of the principles in my life and have found tremendous satisfaction in doing so. I refer to it often and recommend it to everyone I know.
Read
December 10, 2016I'm not a Mormon, but this book has many different facets that can help families of all faiths build a good financial plan to meet the needs of their families great and small.
November 24, 2017
I got this book while it was free for Kindle and it was worth no more than I paid for it.
To start, the tone was a bit arrogant and sexist. It spoke from a very traditional standpoint, in that the author expected the LDS family to have a single male breadwinner in a set job that they stay at for years with regular raises.
As is the trouble with most financial advice books, the examples were out of date. The theory was sound, but the book focused more than I felt was necessary on the examples, charts, and calculations.
The author was really into insurance for some reason. *shrug* He also assumes you can hire financial planners, loan officers, insurance agents, accountants, etc.
In summary, it was decent overview but I wouldn't consider it to be "gospel" for financial planning. It's a fair place to start, especially if you have absolutely no experience, but I would highly recommend learning more from other sources.
To start, the tone was a bit arrogant and sexist. It spoke from a very traditional standpoint, in that the author expected the LDS family to have a single male breadwinner in a set job that they stay at for years with regular raises.
As is the trouble with most financial advice books, the examples were out of date. The theory was sound, but the book focused more than I felt was necessary on the examples, charts, and calculations.
The author was really into insurance for some reason. *shrug* He also assumes you can hire financial planners, loan officers, insurance agents, accountants, etc.
In summary, it was decent overview but I wouldn't consider it to be "gospel" for financial planning. It's a fair place to start, especially if you have absolutely no experience, but I would highly recommend learning more from other sources.
June 4, 2021
If you are smart and plan on retiring this is your book!
I'm 81 now known as a "Croker" by you young kids. I read this book to see how Devin Thorpe covered all the bases. Well he did a good job. You need to consider what he tells you. It will save you time and hopefully mistakes! I would add get rid of pride! Don't compete with anybody over stuff. Don't waste time thinking who's the best or has the most! Remember happiness is positive cash flow not a bunch of debts! Live good lives within your income enjoy your fabulous lives!
I'm 81 now known as a "Croker" by you young kids. I read this book to see how Devin Thorpe covered all the bases. Well he did a good job. You need to consider what he tells you. It will save you time and hopefully mistakes! I would add get rid of pride! Don't compete with anybody over stuff. Don't waste time thinking who's the best or has the most! Remember happiness is positive cash flow not a bunch of debts! Live good lives within your income enjoy your fabulous lives!
September 1, 2017
i read this book to fulfil the goal "read a book about money or finances." it was a good book, but it caused me many anxieties. we don't have a lot of debt, and that is a good thing, but we aren't that prepared for retirement which is a bad thing. we also don't have a lot of emergancy savings, also a bad thing. on the whole though i think it's a pretty good book for anyone to read. lds or not.
October 20, 2018
2 stars
I disagree with several of his opinions, especially in regards to debt and investing. Though, he does provide some helpful information. I also found it really boring, and not because of the subject matter which I actually enjoy.
I disagree with several of his opinions, especially in regards to debt and investing. Though, he does provide some helpful information. I also found it really boring, and not because of the subject matter which I actually enjoy.
November 23, 2018
Not worth the time
This reads like about 100 blog posts put into a book. Watch about 4 Dave Ramsey episodes or read his book and you will get a much better perspective. The book was dry and boring. I had hoped to get more out of this and really hated it in the end.
This reads like about 100 blog posts put into a book. Watch about 4 Dave Ramsey episodes or read his book and you will get a much better perspective. The book was dry and boring. I had hoped to get more out of this and really hated it in the end.
Read
April 29, 2012This is my book.
Building Wealth for Building the Kingdom is a simple, practical guide to help LDS families organize their personal financial plans to meet their unique goals. The book provides simple answers to questions like:
How much should I be saving each month for my son's mission?
How much should I be saving each month for my children's college education?
How can I save enough to be able to retire while I'm healthy enough to serve a mission?
Avoiding tips on pinching pennies, the book focuses on opportunities to save thousands or tens of thousands of dollars by making smart moves with big decisions, like home and car purchases.
Mormon families will appreciate the gospel-centered, scripture-based focus on putting tithing at the center of a financial plan. Building Wealth for Building the Kingdom will help prepare families to enjoy the benefits of their labor while simultaneously contributing to the growth of Church.
Building Wealth for Building the Kingdom is a simple, practical guide to help LDS families organize their personal financial plans to meet their unique goals. The book provides simple answers to questions like:
How much should I be saving each month for my son's mission?
How much should I be saving each month for my children's college education?
How can I save enough to be able to retire while I'm healthy enough to serve a mission?
Avoiding tips on pinching pennies, the book focuses on opportunities to save thousands or tens of thousands of dollars by making smart moves with big decisions, like home and car purchases.
Mormon families will appreciate the gospel-centered, scripture-based focus on putting tithing at the center of a financial plan. Building Wealth for Building the Kingdom will help prepare families to enjoy the benefits of their labor while simultaneously contributing to the growth of Church.
May 21, 2013
This book was an excellent resource! On it’s own it is very easy to read with several helpful tables related to managing finances and how to plan large expenses at fixed points in the future. The author put a lot of work into making this easy to grasp and fiscally manageable.
What’s more is that this is developed specifically with the needs of members of the Church of Jesus Christ of Latter Day Saints in mind. There are sections on financing missions (both for children and as retired couples,) the importance of tithing as well as the normal concerns of education, transportation, a dwelling, etc.
All in all this is a great book. I would highly recommend it for the LDS member who wants to be financially responsible.
What’s more is that this is developed specifically with the needs of members of the Church of Jesus Christ of Latter Day Saints in mind. There are sections on financing missions (both for children and as retired couples,) the importance of tithing as well as the normal concerns of education, transportation, a dwelling, etc.
All in all this is a great book. I would highly recommend it for the LDS member who wants to be financially responsible.
March 5, 2016
Excellent LDS Resource
Thorpe addresses the unique financial situations of LDS families that typical financial planners (Ramsey) are unable to view from the inside. We have similar goals but different motivations to achieve them. Thorpe gives concise information to assist LDS families at any stage of financial planning. He includes college, missions and retirement, in order to serve as Senior missionaries, as part and parcel to Building the Kingdom.
Thorpe addresses the unique financial situations of LDS families that typical financial planners (Ramsey) are unable to view from the inside. We have similar goals but different motivations to achieve them. Thorpe gives concise information to assist LDS families at any stage of financial planning. He includes college, missions and retirement, in order to serve as Senior missionaries, as part and parcel to Building the Kingdom.
January 2, 2016
Didn't technically finish this book. Only got about 1/2 way through before giving up. I've read a lot of books on taking care of your finances and I found his writing very dry and it just didn't resonate with me. I'd get what he was trying to say, but felt like there were many other ways to say it. Disappointed.
February 10, 2016
Excellent. I wildly appreciated the chapter headings which put focus on the coming topic. This book was insightful, well organized, and I feel it was written with the desire to truly be helpful to all that read it.
January 4, 2013
Great guide for Latter-day Saints! I will be recommending this to lots of people. Lots of excellent and practical tips. For example, this would make a fantastic wedding gift (and I plan to give this regularly). Great job!
September 21, 2015
Good book.. it has good information to help plan for the future. A lot of the information I knew, but the charts on saving for a mission and college were helpful and interesting. The best part is that right now the eBook is free on amazon!!!!
November 23, 2012
Fantastic, well written, workable financial planning guide for those who place tithing near the centre of their pecuniary life.
January 20, 2014
This book had good ideas, not everything we can implement right now during our stage in life but good advice.
June 16, 2015
OK it teaches the philosophy of men. good if you believe the world is going to go on as it is for another fifty years I just don't
February 8, 2016
Like Dave Ramsey's Total Money Makeover, but for Mormons. Also much more readable and usable. And I got my Kindle copy free, so yippee.
Displaying 1 - 22 of 22 reviews