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by David van Berkel, CFP®, CKA®
There is no chapter and verse in the Bible that tells us what a Christian’s post retirement life should look like. Many look forward to rest after decades of work, some see it as an extended vacation, while others might never be able to retire fully. As longevity increases and retirement age stays mostly static in the developed world, it could be time to reconsider our ideas on work and retirement.
This was the theme of a Kingdom Advisors monthly study group that our Financial Planning team looked at several years ago. It was a study that was prepared by Jeff Haanen, CEO and Founder of Denver Institute for Faith & Work. I thought that it would be a good exercise to revisit this study and share with a broader audience because it has some terrific matters to consider for those preparing for or nearing retirement.
As a financial planner in the thick of what has been commonly referred to in the industry as “RRSP Season”, I find that the season has become less of the time to focus on selling RRSPs, but rather doing one of the main elements of financial planning - retirement planning. And retirement planning encompasses more than just financially preparing for retirement; it is an exercise in listening for God’s calling on your retirement years.
When preparing for retirement, there a number of common considerations that ought to be looked at in planning the financial aspect of it. These include:
Work - Do we plan to completely cease working? Work part-time? Volunteer? Reinvent ourselves for an encore career?
Time - Will we be able to afford a full life for the next 20 - 30 years?
Leisure - In retirement, how much do we plan to travel, rest, or engage in hobbies? Some find that a retirement focused on leisure can lead to depression.
Family - What is the right balance between family relationships, friendships, independence, and increasing dependence on others as we age?
Calling - What is God’s purpose for my life after I retire?
In Jeff Haannen’s study he explores five points of action to help people find God’s purpose for their retirement.
Culture - Modern secular culture promotes preparing for retirement as a year-round vacation. What is your vision of a good retirement? How do you want to spend your days?
Sabbath Rest - We ought to consider rhythms of Sabbath rest, renewal, and re-engagement when entering retirement. This re-centres trust in God’s provision and re-grounds our identity as God’s people who then see the needs of those around us.
Calling - Many people don’t have a choice in their vocational occupation. Calling is not simply self-actualization. Our highest calling as Christians is to love God with all our mind, heart, soul, and strength, and to love our neigbours as ourselves. Consider the following Calling Questions:
- What is God doing in the world today that captures your imagination?
- How can your unique skills, talents, or networks be leveraged for God’s purposes in the world?
- What stage of life are you in? What should you lay down as an “elder”, and what should you take up in this season of life?
- What are your circumstances?
- How can your life experience be used to benefit others?
- How can the pains you have had in life, career, and family benefit others?
- What fears do you have?
Work - Consider the different seasons of work and rest over a lifetime. What does it mean to re-engage with work as you retire? Is work a curse or is it inherently good? In a Christian worldview, work is a way we reflect the image of God. Work is not fundamentally about how much money we make, but what we give to the world.
Stewardship - Stewardship is our shared responsibility to future generations. We must steward our money, but also the breath of our lungs, the blood running through our veins, to the very last day of our life. A biblical view of retirement reflects a life of service, pointed beyond ourselves to the Servant in whose image we’re made.
Have you considered God’s calling for your life after you leave paid work? As a Certified Financial Planner my calling is to help people take a holistic view of retirement planning, not just reviewing the income and expenses planning process, but to also help clients make decisions based on godly wisdom.
If you are interested in reading Jeff Haanen’s book, An Uncommon Guide to Retirement - Finding God’s Purpose for the Next Season of Life, please let us know and we’ll be happy to give you a copy.
Sunday | January 1, 11:28 AM