The Bible does not directly address the modern concept of retirement saving, as retirement is a relatively recent phenomenon. However, the Bible provides principles that can guide Christians in wise financial stewardship and preparing for the future.
Here are some key biblical principles regarding saving, investing and planning for the future:
1. God calls us to be wise stewards of the resources He has given us
The Bible makes it clear that everything we have comes from God (1 Chronicles 29:14). As stewards, we are responsible for wisely managing what God has entrusted to us. This includes our finances and material possessions. Saving a portion of our income for the future is generally considered wise stewardship.
Proverbs 21:20 says “Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.” The wise man plans ahead and sets aside resources for the future, while the foolish man lives only in the moment and squanders what he has.
2. Planning and saving for the future is prudent
The Bible commends discipline, forethought and prudent planning. Proverbs 21:5 says “The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.” And Proverbs 6:6-8 encourages us to follow the example of the ant, which stores up food in the summer to prepare for the winter.
It is generally wise to save a portion of our income while we can, rather than spending it all and presuming we can work and generate income indefinitely. Ecclesiastes 12:1 reminds us “Remember also your Creator in the days of your youth, before the evil days come and the years draw near of which you will say, ‘I have no pleasure in them.’”
3. We do not know what the future holds, so preparation is wise
Prov. 27:1 tells us “Do not boast about tomorrow, for you do not know what a day may bring.” None of us knows what the future holds regarding our health and ability to work and earn an income. Saving helps hedge against uncertainty.
The parable of the wise and foolish virgins (Matthew 25:1-13) reinforces that we must prepare now for what is to come in the future.
4. Provision for family is important
The Bible instructs us to provide for our families and plan responsibly for their future needs. 1 Timothy 5:8 says “But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever.” Saving can help ensure resources for a spouse and children later in life.
2 Corinthians 12:14 indicates that parents have a responsibility to save up for their children: “Here for the third time I am ready to come to you. And I will not be a burden, for I seek not what is yours but you. For children are not obligated to save up for their parents, but parents for their children.”
5. Do not trust in riches
While saving is wise stewardship, we must be careful not to place our trust and security in money. The Bible warns against the temptation to hoard wealth or rely on riches rather than God (Psalm 49:6-7, Psalm 52:7, Proverbs 11:28).
1 Timothy 6:17-19 cautions, “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…They are to do good, to be rich in good works, to be generous and ready to share, thus storing up treasure for themselves as a good foundation.”
6. Seek God’s wisdom
The book of Proverbs encourages us to seek wisdom from the Lord regarding finances and planning for the future. “Trust in the Lord with all your heart and lean not on your own understanding; in all your ways submit to him, and he will make your paths straight” (Proverbs 3:5-6). God cares about our lives and future wellbeing.
As with any major financial decision, Christians should seek the Lord in prayer and study the Scriptures for relevant principles when determining retirement savings goals and strategies.
7. Be generous and thankful
The Bible encourages generosity and giving to those in need. Even in retirement, we can use the resources God has given us to bless others (2 Corinthians 9:6-15). We can also show gratitude for God’s faithful provision throughout our working years.
8. Our true hope and security is in Christ
While financial preparation is good stewardship, we ultimately trust in God’s care and provision. Our true security is in Christ, not earthly wealth. Psalm 73:25-26 says: “Whom have I in heaven but you? And earth has nothing I desire besides you. My flesh and my heart may fail, but God is the strength of my heart and my portion forever.”
God promises to be with His children now and for eternity. As Psalm 23:4 assures, “Even though I walk through the valley of the shadow of death, I will fear no evil, for you are with me; your rod and your staff, they comfort me.”
9. Work and purpose in our later years
Just because one retires from a career does not mean life and purpose ends. There are many ways to be productive, fruitful and enjoy meaningful work in our later years (Galatians 6:9). We can still honor God and serve others.
Ecclesiastes 5:18-20 suggests the following perspective: “Behold, what I have seen to be good and fitting is to eat and drink and find enjoyment in all the toil with which one toils under the sun the few days of his life that God has given him, for this is his lot. Everyone also to whom God has given wealth and possessions and power to enjoy them, and to accept his lot and rejoice in his toil—this is the gift of God.”
10. Our true home is in heaven
As believers, our citizenship is in heaven and we look forward to our eternal home, not an earthly retirement (Philippians 3:20). The riches we store up on earth pale in comparison to our glorious inheritance in heaven (1 Peter 1:3-5). Our retirement savings and plans should be made in light of eternity.
In conclusion, while the Bible does not specifically mention retirement savings, it does provide wisdom regarding stewardship, preparing for the future, generosity, trusting in God rather than riches, and keeping an eternal perspective. With prayer, wisdom and sound financial principles, Christians can have confidence that God will guide them in planning for retirement in a way that honors Him.
