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Discussion in 'Business and Finance' started by Grant Melville, Jul 9, 2015.

  1. I recently began to pay into a company pension. A family member who's a business manager at a national bank thoroughly depressed me by telling me that I'd have to pay in £12,000 for 40 years to be able to retire with the equivalent of my current salary. I know it's good to be responsible and make provision for the future, but I find it hard to equate that with expecting the Lord to come at any time. I feel that it's vital for us as believers to be kept in constant expectation of the coming of the Lord, it helps to keep us strong spiritually. I suppose the way that we do that and also make provision for the future is just to be responsible with what God has entrusted us with, in terms of material things. I suppose it's better to put money away in a pension fund than to spend it profligately, and saving and investing wisely doesn't mean that we're not expecting to be taken out of this scene at any time.
  2. Put 10% in an account for God. Put 10% for retirement. Put 10% into a savings account. Live on the rest of your salary @ 70%. You'll be surprised how fast it'll all grow. If you don't have the funds in your savings, don't buy. Except for a home or car, do not go into debt. :D
    Euphemia and Lifeasweknowit say Amen and like this.
  3. Until He comes, we must continue to (as you know) be as responsible with our lives as we can.

    That said, the BIGGER issue is, what are we doing with our commitment to Him? Did we bury our talents, to preserve them, or are we using them to multiply them into more?

    Being frugal about our future (for our own sake and for the sake of any who are journeying with us, like wife, kids, etc) is to be responsible with our lives. It is a testimony in and of itself to others about using the minds and bodies that God gave us, for proper and productive things.

    When He comes, I want to be found "doing"..........not simply watching.......

    Abdicate likes this.
  4. I'm not quite as structured as that! I have my pension, I put as much into savings as I can every month, and I put into the collection on Lord's day, as the Lord has prospered me. Still, it'd no doubt be better to be structured about it. I avoid debt like the plague - the only money I've ever owed is my student loan, which I'm still paying off. My parents always taught me that debt is wrong, and you should never spend money that you don't have.

    Absolutely! That's a vital question: what am I doing with my spiritual capital? Am I trading? I would hope so, but it's a test.
    Abdicate likes this.
  5. And it would be amazing how the remaining 70% (or 90%) keeps on growing :)
    Euphemia and Abdicate say Amen and like this.
  6. I am no finance expert.. I know many friends of mine around my age seek for financial advices and come back disappointed that they are not saving enough for the future.. While saving itself is good, I don't think there is any point worrying we are not saving enough..

    Matthew 6:19-21
    19 “Do not lay up for yourselves treasures on earth, where moth and rust[a] destroy and where thieves break in and steal, 20 but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. 21 For where your treasure is, there your heart will be also.

    Jesus said it best.. Do no worry about saving money for future which is not even in our hands. Seek God for guidance. Seek Him and He will show the way. I also used to worry that I am planning enough ahead. And how would I live when I retire. Will I have enough to get my kids settle down and finally retire and lead a happy life. When I get old, will I have enough to take care of medical expenses that come with aging. I have worried about these things. But God brought to my heart is that, He does not give a plan for rest of our life. He wants us to trust Him on a day by day basis. Needs for that day. He does not give a blueprint of our life. All He says is "I will never leave your, never forsake you". And we just have to trust Him on a daily basis.
    Grant Melville and Abdicate say Amen and like this.
  7. I have worked in finance for 6 years and can confidently say that saving for retirement is incredibly vital. God has given us the knowledge through various sources (news articles, peoples experiences, etc.) on what can happen if you do not save for your future. Trusting in God, means we use common sense and knowledge. Common sense in the finance industry (and our knowledge of SS in the future as well as inflation), tells you that many people end up not having enough for retirement and have to extend their years of working. This can cause issues especially if they have medical problems or come across age discrimination while applying to various jobs. Also, saving for the future shows that you're capable of cutting out needless expenses and that you can patiently wait with what is growing in your retirement account...in the event that you get to that point in life. I almost think it's a bad thing to keep wanting to spend all the money you have now instead of saving for retirement, when many realize they may not have enough to support themselves. Start putting money into retirement as soon as possible. In my honest opinion, you should put as much as you can in (at least $200 per month) and don't think about what you're missing out on for now.

    Most people complain about not having enough money for this and that, but the truth is, they simply don't know how to manage their money properly and in a Godly way. I was raised by a single mother and money is not to be taken lightly. I try my best, and believe I have done a great job, in spending money mostly when necessary (I splurge about $60 on my hair every 4 months, but that's about it). I buy clothes that are classic and don't go out of style for years, so I rarely shop at all. If it was up to me, I would cut out cable television, but my husband wont allow it, so I submit. It's not about how much you make, it's about how you spend it.

    Since you have no debt, you're obviously doing something right. Make sure you're tithing and paying any bills that may come up, then definitely put money into retirement. I recommend a Roth IRA on top of your pension and do some research on places to invest. Vanguard is a great choice.

    Besides...if the Lord is coming sooner than retirement, does it really matter that you missed out on getting that money when you retired? Does it really matter that you didn't have that extra money on hand everyday? If so, why? What purposes would you need it for?


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