Retirement Planning as a Christian: How to Align Your Faith and Your Finances
I have been a Christian since I was 16. I’m now in my 30s and have read the Bible several times. I’m not a pastor or theologian but a financial planner by trade. While Christianity is not required to work with me, I have several Christian clients. I am often asked how to approach retirement planning as a Christian, and have spoken about this topic frequently.
This article is an excellent start if you are a Christian near retirement, thinking about retirement, or just starting your career and wondering how to save towards retirement. We’ll look at:
- Retirement in the Bible
- Financial Stewardship
- How to think about your finances
Many things come to mind when discussing retirement planning for Christians. The goal of this article is not to provide a comprehensive list but to give you a foundational starting point and some resources that may help. Let’s start by looking at the Bible and what it says about retirement planning as a Christian.
Retirement in the Bible
Retirement is not necessarily biblical, at least not in today’s context. Let me explain.
The Levites were the biblical priests of the day coming from the tribe of Levi. In Numbers 8:23-26, we find the only use of the word “retirement” in the bible. Here, we see that priests were required to retire at the age of 50. From that point on, they could be helpful to the serving priests and receive a portion of the tithes, offerings, and other provisions given to the Levites.
No one else in the Bible was required, asked, or even suggested to retire. It’s important to understand that retirement, as we see it, is not Biblical but a relatively new idea born over the past 50 to 100 years. Retirement planning as a Christian means using biblical wisdom as we work and prepare for the future.
First and foremost, your relationship with God is yours alone. It’s essential to seek His will for your life. That said, here are a few things I point out when asked about retirement planning as a Christian.
Warnings
The Bible has many warnings regarding money, wealth, and possessions in the Old and New Testaments. Jesus speaks a lot about the hold that wealth can have on our hearts. Seek wisdom through the Bible and prayer as you earn, save, and invest money.
Ask yourself the following questions:
- What is the purpose? (This a great one to ask about anything you’re trying to attain.)
- Am I doing this to build my earthly kingdom or the Lord’s kingdom?
To paraphrase the warnings collectively, you can’t serve God and money. You must choose.
Stewardship
Throughout scripture, we are instructed to be good stewards. Stewardship refers to your time, talents, and also your money. One of the most referenced stories about money is found in Matthew 25:14-30. Here, Jesus tells about a wealthy master who gives his workers money while he is away. The message teaches about faithful stewardship and taking what God has given to produce more, be fruitful, and multiply.
There are many stories of the wealthy using their resources to help with God’s mission and to further His Kingdom. It’s okay to have money as long as it’s in its proper place and used effectively for the Lord. Retirement planning as a Christian is about whether you’re looking at or serving money as an idol rather than letting your money serve the Lord.
Money can be used to invest, retire, or leave an inheritance for your children. I don’t see anything in the Bible against those types of money usage. It’s more about having the proper order regarding your finances. So what does this all mean?
How to Think About Your Finances
As a Christian planning for retirement, you must think through one thing prayerfully.
What are your priorities?
I had a pastor named Pastor Gary Crawford, a great man still living who once said, “You can tell who you are by your calendar and your checkbook.” In Biblical times, people didn’t have cash and mutual funds, but they had land, cattle, sheep, goats, gold, and other forms of wealth. I think Jesus spoke about wealth so often because it’s a tangible way to view one’s priorities.
Looking at where your money is going on an ongoing basis, both through income and assets, can help you determine your priorities.
- Are you spending more money on things that are not eternal?
- Are you putting more money away into your retirement account than you are giving?
- Are you giving more away than saving for yourself?
I’m aware that there are lots of debates on tithing. Still, the Bible says that the Lord loves a cheerful giver. If you’re saving more than giving, it’s up to you to evaluate your heart on that and pray about it.
Is it okay to plan for retirement?
The short answer is yes. It’s okay to plan for retirement. The Lord has provided technology, systems, and ways to invest wisely and free up our time. Often, I’m asked whether specific things are okay to do. I advise carefully viewing everything through the lens of whether it brings glory to the Lord or yourself.
Speaking of Time
How will you spend your time once you retire? Statistics show that most people end up watching a lot of TV, which is sad to me. Too often, as we plan for retirement, we think only about what we’re moving away from.
As you build resources and invest, reframe your retirement planning by thinking about what you want to retire to. Would you like to
- Do more ministry work
- Volunteer
- Give to your church or other charitable organizations
I’m not saying you can’t make an impact while still working. No matter your type of work, you can influence people in the secular world by doing your job well and being a good example.
Still, there will come a time when your body starts to get tired, and you’re just unable to work anymore. Planning to have the resources for those times is prudent, mainly because costs can quickly register.
What Next?
I would love to give you a detailed list, but it is unique to everyone. Financial planning is specific to your situation. Remember that retirement planning as a Christian may not be Biblical, but it is acceptable and advised.
Reading this article is an excellent starting point; however, many great resources are available.
One of my favorite books on stewardship is Money, Treasures, and Eternity by Randy Alcorn. My website also has lots of information, including a popular post titled “How to Know When God Wants You to Retire.”
Most importantly, pray over your planning and select a financial advisor that aligns with your priorities. God bless you and your family.
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