Does the Bible say anything about saving for retirement?

WHAT DOES THE BIBLE SAY?

In Genesis 41 and Exodus 16 we see the wisdom in obeying God when it comes to planning ahead. Likewise, if we save for the future, it should be done in godliness, not fear or greed. The Proverbs especially affirm good stewardship of money and being a hard worker (Proverbs 10:4-5; 21:20; Proverbs 6:6-8) but it also touches on being generous to others with what God has blessed us with (Proverbs 19:17). Something important to remember is that not all saving is wise, sometimes it can actually be foolish, as was the case of the man in Luke 12:16-21. While God does desire to bless us for our own wellbeing, He also wants us to pay it forward and use our blessing to help others. Instead of fearing what is to come, we should trust that our Heavenly Father will take care of our needs (Matthew 6:25-34), and we should therefore be generous with what we have (2 Corinthians 9:6-15). It is good to work hard so that we can provide for our needs and the needs of others. We must not be foolish and lazy (2 Thessalonians 3:6-15), but there does come a time when our work will no longer produce income. Preparing for that time by saving now can be wise but should be done out of a place of trust in God, not in ourselves or our finances.

FROM THE OLD TESTAMENT

• Joseph planned ahead and filled the store houses of Egypt so that they were prepared when a famine came (Genesis 41). This was a wise decision in this context.
• While the Israelites were in the desert, God provided them manna to collect and eat every day, except the Sabbath because they were not supposed to do any work that day. The wise ones followed God's instruction to collect enough manna on Friday to feed them for two days instead of one (Exodus 16).
• One way we can provide for ourselves is saving money or resources. Many of the Proverbs affirm good stewardship of money (Proverbs 10:4–5; 21:20). Proverbs 6:6-8 specifically describes how even ants toil in the summer in order to prepare for the winter. Although God owns everything; we are called to steward the resources with which He entrusts us to further His kingdom purposes: "Whoever is generous to the poor lends to the LORD, and He will repay him for his deed" (Proverbs 19:17).

FROM THE NEW TESTAMENT

• Preparing ahead is smart, but Jesus reminds us that we should not be worried about what the future holds because God will provide for us (Matthew 6:25-34).
• In Luke 12, Jesus tells a parable of a foolish, rich man who already had so much that he didn’t even have enough storage for it. He decides to build a storehouse for his recent abundant harvest so that he could “eat, drink, and be merry” (Luke 12:19). Jesus says the man will lose his life and then his wealth will be pointless. Jesus wasn’t saying it is wrong to save but that our focus should be on God’s Kingdom rather than accumulating wealth to lead a hedonistic existence.
• We can and should give to the Lord cheerfully (2 Corinthians 9:6-15), and saving for the future should not hold us back.
• When it comes to taking care of ourselves, God encourages us to be wise and to work hard (2 Thessalonians 3:6-15). He wants us to make wise decisions that set us up for success.

IMPLICATIONS FOR TODAY

The concept of saving for retirement did not exist in biblical times. Scripture doesn’t mention 401(k)s, IRAs, or stocks. Nonetheless, the Bible has a lot to say about both taking care of ourselves and handling our money. Ultimately, we must not let our savings be motivated by fear, pride, or selfishness, but rather godliness, remembering that our wealth does not come from the work of our own hands, but as a blessing from God. God's intention is not for us to save for retirement out of anxiety. Our resources are also not meant purely for our own wellbeing, either in the present or the future (2 Corinthians 8:1-15; 9:6-15). Rather, God desires that we use the resources He has blessed us with wisely so as to accomplish His plans on earth. This includes giving generously as well as saving wisely.

UNDERSTAND

• The Bible doesn’t offer specific guidance about retirement, but it does provide principles that can be applied to it.
• Scripture teaches good stewardship of the resources God has given us.
• Our chief aim in life should be to glorify God and magnify His Kingdom rather than accumulate wealth.

REFLECT

• What biblical principles do you find most useful in managing your finances?
• How do you wisely plan for the future while still trusting the Lord?
• What are some ways you use what God has given you to bless others?

ENGAGE

• How does the culture’s view of wealth and retirement planning differ from the Bible’s?
• How might Christians’ trust in God be manifested in their retirement planning?
• How can Christians model biblical financial principles to the world?