Christian Retirement Planning for Fathers

I’ve met folks who wonder if Christians should save for retirement. They feel like God has blessed work—which He has—so they plan to work forever. As a result, they haven’t spent much time thinking about retirement savings.

I understand that, and I respect their convictions. But I’ve also met a lot of folks who had to retire for one reason or another. Family circumstances or physical issues put them in a position where they had to step away. Given enough time, I think a vast majority of people will face retirement, which means they will need some kind of retirement plan moving forward.

If you’ve been saving for retirement for years, that’s great! Keep it up. If not, you still have time. Late retirement planning is always better than no retirement planning.

Key Takeaways

Christian retirement planning is an act of stewardship that allows believers to provide for their needs and serve others with long-term generosity.
Starting early, even if you’re behind, gives compound interest time to work in your favor and lays the foundation for a stronger financial future.
Building a budget and eliminating debt frees up income for retirement saving and aligns your spending with godly priorities.
Diversifying investments and maximizing employer retirement matches are smart, biblical ways to grow your resources for future use.
Retirement doesn’t mean quitting ministry—instead, it opens doors for increased service and impact when financial freedom is in place.

Stewardship and Generosity

Christian retirement planning is wise stewardship of the resources God has provided. Since God owns everything (Psalm 24:1), His people have a responsibility to use what He places in our hands well. We are called to steward His stuff His way for His glory. Planning for the future is wise stewardship.

Saving for retirement also allows you to be more generous later in life. Even if you’re getting a late start, you can build a “nest egg” that provides for your daily needs, supports your family’s future, and offers something extra to invest in the ministry of your church or an organization you respect.

You also have the freedom to meet needs God brings to your attention. Creating wealth through retirement planning isn’t just about us. It’s about serving the world around us. The more we save, the better we can become the hands and feet of Christ. It’s all part of building a legacy that outlives us.

5 Do’s When Planning for Retirement

As the name implies, Christian retirement planning takes planning. It requires a solid strategy. It also takes discipline because our human nature would rather spend what we have on the here and now.

Plus, humans just aren’t patient. We’re not naturally wired to consider what we’ll need (or even want) years from now. But these five principles will help you develop a future focus in regard to your finances, a focus that will pay off even if you’re getting a late start on retirement planning.

1. Start now.

When it comes to retirement planning—even late retirement planning—time is the key. Thanks to compound interest, the earlier you start, the more resources you can save and the more interest you can earn. That means that even if you don’t have a penny saved at this point in your career, today is the day to start.

Admittedly, starting to save can be hard. It will take some adjustments, but it will pay off in the end. Think of it as a race. Whether you’re running a marathon or walking a 5K, your first step is the most important. The only people who cross the finish line are the ones who start the race. So, in saving for retirement, start now!

2. Build a budget.

Jesus told a story about a man building a tower (Luke 14:28-30). Before he laid his first stone, he took inventory of his resources. He wanted to make sure he had all that he needed so he wouldn’t end up being ridiculed for beginning something he couldn’t finish.

Budgets work the same way. They give you the space to examine where you are and where you want to be. A budget simply provides a written plan for your money, a plan that ensures that you don’t spend more than you earn. And savings—both for the short term and for long term (like retirement)—need to be a part of that plan.

3. Get out of debt—and stay there.

Your income is key to your retirement planning. If you’ve got income going toward debt, it robs you of the power to create wealth—wealth you will need and can use for God’s purposes in your retirement years.

As you build your budget today, put as much as you can toward debt elimination. You might consider paying off your smallest debts first. That gives you a quicker win and frees up some extra cash to put toward your bigger debts. The Bible says that “the borrower is slave of the lender” (Proverbs 22:7). You don’t want to carry that bondage into your retirement years.

4. Diversify your investments.

I believe that Solomon, the wisest man (and one of the richest) who ever lived, wrote the book of Ecclesiastes. Tucked inside that masterful essay on theology and philosophy is an encouragement to “Give a portion to seven, or even to eight, for you know not what disaster may happen on earth” (Ecclesiastes 11:2).

In terms of retirement planning, that’s an encouragement to diversify your investments. Mutual funds offer an opportunity to spread your contributions across a variety of investment types. Because all investments fluctuate, it’s wise stewardship to diversify. When one investment type goes down, another can buoy it.

Like the old cliché says, don’t put all your eggs in one basket. If you need help in determining where to put your eggs, find a professional you trust to explain your options and help you make the best choice for your goals.

5. Take advantage of a company match.

Many companies offer a “match” to encourage employees to save for retirement. This is a percentage of money the company will contribute to your account to match the percentage you contribute. If your company offers a match, you should try to invest at least that much yourself. Otherwise, you’re losing out.

For example, if your company offers a match of up to four percent, it makes sense to contribute at least four percent yourself. If you only contribute three percent, the company will only match three percent. Over time, the difference between saving eight percent and six percent could be huge.

Beyond the match, work with a financial advisor to determine the best way to invest additional resources.

Don’t Retire from Everything

One reason some Christians delay saving for retirement is that they equate retirement with quitting. While that may be true in the context of your job, it should not affect other areas of your life, like ministry. When it comes to serving others for God’s glory, you never really retire. You’re always in the game.

Begin thinking now about ways you can serve others after your retirement. The extra time and the resources you’ve built through retirement will put you in an awesome position to do things you could never do before. While you certainly want to scratch fun things off your retirement “to-do” list, you can also find time to volunteer and build a legacy of ministry that touches eternity.

Christian retirement planning makes that possible—even if you’re starting late.