Retirement Anxiety

“People like feeling they have some control over their future, but they also like certainty.” – Economist John Mauldin, in a letter discussing pension plan types.

This retirement anxiety discussion comes up as many pension plans that baby boomers were relying on for their retirement simply have run out of money.  In the 1980s, 60% of companies had pension plans, today only 4% have such a plan.  Most companies opt to the defined contribution type of plan so they are off the hook of responsibility for employee’s retirements.  Today 24% of baby boomers are confident they have enough money to last through their lifetime.  It is a well-founded anxiety then by the remaining 76% since state and local governments across the U.S. have nearly $2 trillion in unfunded pensions.  Yes, you read that correctly, unfunded. 

The difference between a retirement plan and your heavenly plan is that you can look at the balance of your retirement account and know there is something in there.  It might not be as much as you’d like to give you that certainty, that feeling of security to know you will have income as you get old, but you can see it and you know it’s there.  You also have some control over it if it’s a defined contribution plan (401k or similar).  If you want more in there, you can sacrifice income now to add to it over time.  You can also control its risk.  You can manage it so it’s in safer types (bonds) but earn (or lose) less or you can put it into higher risk that earn (or lose) more. 

Too many people cannot get religion outside of this retirement paradigm.  Yet, a faith in Jesus has nothing in common with this.  Nothing.  While my worldly reasons can start building bridges to put the two together, my spiritual wisdom makes it clear that no part of my relationship with Jesus has anything to do with secure financial planning.  Faith in Jesus is trust in His Word.  Period.  Analyzing retirement is counting, evaluating, determining risks, and market forecasting.  Wisdom dictates that it makes no sense to keep something in this world that cannot last for anything in the spiritual world that will last for eternity.  In other words, we should never jeopardize our faith journey with something trivial like retirement anxiety.  

Jesus said “The kingdom of heaven is like treasure hidden in a field.  When a man found it, he hid it again, and then in his joy went and sold all he had and bought that field.” (Mt 13:44)

If we are to be anxious about anything, it should be over our spiritual condition and what we are doing to grow in faith and knowledge.  If we aren’t growing, we should be anxious as to why.  Unfortunately, it is a rare person who values their daily spiritual condition, their daily walk in conversation with God, and their daily actions so much that they are even conscious of a spiritual element in their day.  Much like their retirement, most people think that is something they can concern themselves with when they are in their 60s.  I would consider that much less than 24% of retirees are confident in their faith. 

Theodore Roosevelt said: “Do what you can, with what you have, where you are.”  Anxiety frequently paralyzes us.  Don’t let it.  Where is your faith?  Do you depend upon God for your daily substance?  How are you going to grow closer today?  Do something wherever you are.  God will respond, that is certain.