While it's practical to know the dollars and cents of your budget by creating income and expenditure sheets, it's also important to acknowledge that the source of our finances is God. He provides us with the means to earn an income and to accumulate wealth. 1 Chronicles 29:12-14 and Deuteronomy 8:18 both point to God as the source of our wealth.
Generosity is one of the ways Christians can model their lives after Jesus, even during retirement. Jesus gave of himself freely and fed the masses, preached without the expectation of payment, healed the sick and even gave his life so we could live. We're never more like Jesus than when we give generously.
The generous giver can also be seen in the Father, who gave his only Son. God is also a God of abundance and providence, and as Christians, we need to extend that to those around us. In God's word, it says, "But this I say: He who sows sparingly will also reap sparingly, and he who sows bountifully will also reap bountifully. So let each one give as he purposes in his heart, not grudgingly or of necessity; for God loves a cheerful giver." II Corinthians 9:6-7
Debt can be helpful when you need a large sum of money, especially for big purchases such as a house or car. For seniors, debt usage has increased and now includes discretionary spending on credit cards or to take advantage of low interest rates on investments. While helpful at times, there are few things as liberating as making a final payment on a loan, especially when that debt is attached to an asset.
Retirement signals a time in life when you might be tempted to join a business venture, invest in something you haven't considered before or go on a luxury cruise around the world. After all, you've had to make careful financial decisions up to this point, so why not relax the purse strings a little? While this might be true, it's also important to be a good steward of your funds.
There's nothing wrong with spoiling yourself a little after years of working, but it shouldn't come at the cost of a peaceful retirement. If you're wise, you'll continue to plan for the future. Those of faith are reminded of the time God instructed the pharaoh of Egypt to store wheat in the barns for 7 years to prepare for 7 years of famine. This shows the importance of planning ahead.
It may seem strange to keep saving after retirement, but it's important to continue doing so. Money is a well-covered topic in the Bible, and there are over 2,500 scriptures that deal with how we manage it. Some of the instructions include:
"When we serve with our money, we honor God and we receive the fullness of his blessings." (Proverbs 3:9-10).
When you're at a crossroads regarding financial decisions, you'll want to test the principles of the decision against God's word. For those who aren't familiar with this practice, it's important to seek advice from a trusted financial advisor who understands biblical principles. Several scriptures in Proverbs point you to seeking out godly counsel:
Retirement can bring forth uncomfortable feelings about the future, especially regarding finances. While it might require some action on your part to keep on planning your financial future, you should know that when you allow God to direct your path, he will fill you with his peace.
A scripture you can lean on during tough financial times is, "Be anxious for nothing, but in everything by prayer and supplication, with thanksgiving, let your requests be made known to God; and the peace of God, which surpasses all understanding, will guard your hearts and minds through Christ Jesus." Philippians 4:6-7
Be content with what you have in your retirement, especially if you don't really need anything else. You can achieve contentment by practicing humility and gratitude. This will help you live with an open hand to give and receive and not spend on a whim.
