What does the bible say about saving money for retirement? 401ks, IRAs, pensions, and more did not exist in the Biblical age. That might lead you to believe scripture is silent on the concept of saving for retirement. On the contrary, scripture has much to say about this concept. Retirement in the Bible, while different than we think of it today, is still present across scripture. Keep reading for some principles that support saving for the goal of retiring someday.
Verse 1: Save Something for the Future
"Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it." Proverbs 21:20 ESV
This Proverb points out our tendency our temptation as humans to use up all our resources in the present. Why do we do that? It’s just easier! It’s easier to buy one more trinket on Amazon than to put money away for the future. Be like the wise man: save and invest for the days ahead.
Verse 2: Store up During the Good Times
“Go to the ant, O sluggard; consider her ways, and be wise. Without having any chief, officer, or ruler, she prepares her bread in summer and gathers her food in harvest.” Proverbs 6:6-8 ESV
This Proverb recognizes there are seasons of plenty and seasons with less. The idea is to model the behavior of the tiniest creatures and learn from how ants store up for when winter arrives. This also a reminder that you have to take action. No one will make you store up for winter, or retirement!
Verse 3: Work and Save to Avoid Being a Burden to Others in the Future
"For you yourselves know how you ought to imitate us, because we were not idle when we were with you, nor did we eat anyone's bread without paying for it, but with toil and labor we worked night and day, that we might not be a burden to any of you." 2 Thessalonians 3:7-8 ESV
In 2 Thessalonians, Paul gives us perspective on why it is important to be in a position to support your own household now and in the future. He uses himself as an example and warns against idleness. Saving for your future retirement is not just a benefit to you and your spouse. It means that you will not be burden on society or your children when they are adults.
Verse 4: Preparing for Future Periods of Difficulty is Prudent
"The seven years of plenty that occurred in the land of Egypt came to an end, and the seven years of famine began to come, as Joseph had said. There was famine in all lands, but in all the land of Egypt there was bread." Genesis 41:53:54 ESV
When Joseph advises Pharaoh to store grain, it’s done with the knowledge that difficult times will come. Few are blessed with the true foresight of the future Joseph had, but we still know that difficult times will come someday. Respond by saving adequately for your future retirement.
Verse 5: Some of us, even the ones that have been told to prepare, still won’t
"On the seventh day some of the people went out to gather, but they found none. And the Lord said to Moses, “How long will you refuse to keep my commandments and my laws? See! The Lord has given you the Sabbath; therefore on the sixth day he gives you bread for two days. Remain each of you in his place; let no one go out of his place on the seventh day.” Exodus 16:27-29 ESV
In Genesis, Moses and his people are provided just enough food on the first five days of the week. On the sixth day, they were provided enough for that day and the next. The charge to the people was to gather enough for that day and day 7. Did everyone listen? No, some didn’t. When they went out looking for food on day 7, there was none to be had. The people were told to store up for day 7, some did not, and then day 7 came with hunger. Which group do you want to be a part of?
These Bible verses on retirement touch on the some of principles scripture shares guide us in prudent decisions. Saving for retirement is important and should be part of your financial plan even if retirement is decades away. The sooner you start, the easier it will be.
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FAQs
– Proverbs 30:24-25. Idle hands make one poor, but diligent hands bring riches. The son who gathers during summer is prudent; the son who sleeps during harvest is disgraceful. – Proverbs 10:4-5.
What does the Bible say about saving money for retirement? ›
You may be surprised to learn that saving is actually encouraged in the Bible. The Bible teaches that it's possible to wisely save and invest for the future while also being “rich toward God” by “storing up treasures in heaven” (Luke 12:21; Matt. 6:19–21).
What Bible verse encourages retirement? ›
Bible Verses for Retirement: Finding Peace and Purpose
- Finding Rest in God's Presence. Matthew 11:28-30. "Come to me, all you who are weary and burdened, and I will give you rest. ...
- Embracing New Purpose and Opportunities. Proverbs 16:3. ...
- Trusting in God's Provision and Care. Philippians 4:19.
Nowhere in the Bible does it mention we should stop working. This doesn't mean that you need to work until you die, but that the type of work you will do later in life is different. Retirement is not a Biblical concept, but a cultural concept. If the Lord gives you breath, it is because He still has work for you to do.
What does God say about savings? ›
We are encouraged to save, but we must do it for the right reason and in the right proportion. 1 Timothy 6:17-19 - As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy.
Should Christians save money for retirement? ›
Jesus spoke very difficult words to those who would follow him.” While this doesn't mean we shouldn't save for retirement, it does mean that we should always live for the Kingdom and not for our wealth. Walking by faith means that we believe this, and then we act accordingly. Saving for retirement is important.
Is there a biblical basis for retirement? ›
The only mention of retirement in the Bible is for the Levites who were instructed to withdraw from service in the tent of meeting. This passage includes instruction for the Levites in both service and retirement from their duties, and it captures the essence of instruction to retired Christians.
What are the blessings of God for retirement? ›
Lord I pray that this may be a wonderful new beginning for me and not the end of the road, that is so often the case when retirement arrives. Help me to seize every opportunity that arises and to explore the skills and gifts that You have given me, so that they may be used to glorify Your name.
What is Proverbs 16 verse 3? ›
ESV Commit your work to the LORD, and your plans will be established. NIV Commit to the LORD whatever you do, and he will establish your plans.
How do you know when God wants you to retire? ›
As you're trying to discern how to know when God wants you to retire, go to Him in prayer and ask. You don't always know the whole vision, but He will show you the next step. He may even give you a specific answer. If you don't have an answer, it may just mean to wait.
Here are eight emotional retirement wishes:
- I am sending my wishes for your new phase of life! ...
- Although you have retired from your job, you are always in my heart. ...
- You know this place may not be the same without you. ...
- We had the best time together. ...
- It is hard to see you go, but I am happy about your new phase.
- "Retirement is not the end of the road; it is the beginning of the open highway." - Unknown.
- "Retirement: It's nice to get out of the rat race, but you have to learn to get along with less cheese." - Gene Perret.
- "Retirement is a time to enjoy the things you never could before." - Unknown.
By not saving for retirement, you may become a burden for your dependents. There are many immediate tax benefits for saving for your retirement. The earlier you start saving for retirement, the sooner you can begin capitalizing on the effects of compounding returns.
Does the Bible encourage savings? ›
The Bible encourages saving.
Saving is accumulating appropriate material resources for a defined, responsible purpose. A wise person does this (Prov. 6:6-8, 21:20). As you work and God provides you with income, He expects you to pay your taxes, give to His work and meet your present needs.
What does God tell us to do with money? ›
God blesses those who make money through honest work rather than sinful practices. God calls us to pay back what we owe and help those who have helped us. It's wise for us to plan, think through how we'll make money, and spend money. Saving money can help set us up for future financial success.
What is Proverbs 13 11? ›
ESV Wealth gained hastily will dwindle, but whoever gathers little by little will increase it. NIV Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
Should Christians have retirement accounts? ›
The bottom line with the whole question of whether not Christians should save for retirement comes down to the fact that as stewards we have a responsibility to do the best with what we have been given. Saving with retirement accounts like 401ks or IRAs is a great way to multiply the talents that we have been given.
Should you tithe on retirement savings? ›
By definition, the tithe is correlated explicitly to our increase or more commonly referred to as our income. During retirement, you may feel like you are living off saved money that was previously tithed; therefore, you technically do not need to tithe it again.
What does the Bible say about saving and investing money? ›
Matthew 6:19-20:
“Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal.”
When not to save for retirement? ›
A general rule of thumb says it's safe to stop saving and start spending once you are debt-free, and your retirement income from Social Security, pension, retirement accounts, etc. can cover your expenses and inflation.
