[vc_row top=”20px” bottom=”20px”][vc_column][vc_single_image image=”9494″ img_size=”Full” alignment=”center”][vc_row_inner][vc_column_inner][vc_column_text]By Mary Jo Lyons, CFP®
We had it right all along. Retirement to a life of leisure is not part of God’s plan. He called us to work, ideally with a sense of satisfaction and enjoyment. Leisure is a part of God’s plan but not the objective.There should be a relationship between work and leisure in our lives in order to enjoy periods of refreshment, renewal, restoration and relationships.
It wasn’t until after the creation of social security in 1935 that Americans even considered “retirement”. Very few pension funds were in place and the American farm required all hands on deck to function. Back then work was more demanding physically. Americans worked until their bodies wore out. The industrial revolution changed this. Social security became a way of removing older workers from the workforce to make way for younger more productive workers.
Instead of thinking of this “third phase” of life as a time of retirement, think of it as an
opportunity to focus on your true calling. An opportunity you may never have had time for during your working years.
Early in my career I thought my work defined me. I now see my work is a calling. This is more likely by design, as my chosen work has evolved. A calling is characterized by passion, ability, experience and opportunity.
With a calling there is a Divine reason for doing something. Our work will be tested and rewarded by God (1 Corinthians 3:13-15) So whether you eat or drink, or whatever you do, do it all for the glory of God. (1 Corinthians 10:31) When we seek to glorify God in whatever we do, we will pursue excellence in our work, whether others notice or not. Our work becomes spiritual when done to the glory of God using the many gifts he has given us: skills, intelligence, experiences, reputation etc.,.
Wealth is a byproduct of work not a direct result of it. (Proverbs 23:4-5) Money is not a measure of self-worth nor a measure of success. It is a tool we can use to accomplish good and become more Godly. The income I earn from my work is a gift from God. Fulfillment comes from the work not from what I earn.
Money doesn’t guarantee happiness or satisfaction. Satisfaction and even happiness comes from relationships. If you find your social network changed because you are no longer working or due to a move you may find yourself in an emotional slump. The loss of social activity and potential isolation can present a dark side to retirement.
There have been a number of studies that show retiring early can have a negative impact on physical, mental and social health. In fact, retiring later has been shown to delay the onset of dementia and Alzheimer’s according to these studies.
When we think of retirement we often think in terms of freedom. The idea of freedom lures us into the idea of retirement. Retirement is not always what it’s cracked up to be. We thought we would be happy but many are not. This can be both confusing and embarrassing. Retirees can experience much loss including: a loss of purpose, physical activity, socialization and mental stimulus. Your friends are often still working and your former work colleagues move on in time.
If you do decide to go back to work you often find that it’s not that easy. It’s hard to replace your salary and the older you are the longer you can expect to look for meaningful work. Age discrimination is real.
We work with our clients to help generate a plan to ensure they don’t run out of money before they run out of life. It seems we should also encourage them to develop a plan to insure they don’t run out of life. We all need a plan in our future that includes family, friends, good health and stimulating hobbies. In this context reinventing retirement really does seem like a good idea. Here we go again… what is old is new once again. Maybe it’s time for a new label.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row top=”20px” bottom=”20px”][vc_column][vc_column_text]
CHECK OUT THESE OTHER AREAS OF OUR NEWSLETTER
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[vc_row top=”20px” bottom=”20px”][vc_column][vc_single_image image=”7561″ img_size=”Full” alignment=”center”][vc_row_inner][vc_column_inner][vc_column_text]In a recent retirement planning study,* respondents were asked eight questions about retirement, including the estimated amount of savings they would need, what percentage of savings should be withdrawn each year, and how many years someone retiring at age 65 should expect to live in retirement.
Not only did many miss the mark on these key retirement questions, but the study concluded that a number of retirement myths and misconceptions were holding them back, including those who are 55 or older whose retirement is less than ten years away.
As wealth advisors, we believe that helping to educate individuals and families about retirement planning, investing, estate planning, and other important financial topics is an integral part of helping people live the life they desire both now and in retirement.
If you have questions about retirement planning or other financial concerns, please don’t hesitate to reach out to us at 830-609-6986. It’s why we’re here!
* Fidelity Retirement IQ Survey, 2017
** This communication is designed to provide accurate and authoritative information on the subjects covered. It is not, however, intended to provide specific legal, tax, or other professional advice. For specific professional assistance, the services of an appropriate professional should be sought.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row top=”20px” bottom=”20px”][vc_column][ess_grid alias=”july-aug-2017″][/vc_column][/vc_row]
[vc_row top=”20px” bottom=”20px”][vc_column][vc_single_image image=”6019″ img_size=”Full” alignment=”center”][vc_row_inner][vc_column_inner][vc_column_text]Are you planning to retire within the next 5 years? Will you need to decide between a lump sum payout or a monthly pension amount? Do you worry if you’ll outlive your current retirement savings and if you have enough? Do you wonder what you’ll do with the time you’ll gain once you retire from your job and if you will still feel fulfilled without the work you currently enjoy? If you answered yes to any of these questions, we can help you!
Retirement planning is offered as a benefit of doing business with us, and we can help you evaluate your preparedness for retirement. Retirement planning with Christian Financial Advisors® not only looks at the monetary side of retirement, but also the physical, spiritual, and emotional aspects of making the immense change that is retirement.
We incorporate financial calculators, income analysis tools, and several questionnaires to help us identify the areas of your retirement that you are prepared for, and those that may need attention and changes. Contact us to set an appointment with Bob to discuss your situation.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row top=”10px” bottom=”10px” bg_color=”#163463″][vc_column][vc_column_text css=”.vc_custom_1472147374664{padding-top: 5px !important;padding-right: 10px !important;padding-bottom: 5px !important;padding-left: 10px !important;}”]
Check out other articles from our September 2016 Newsletter
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Personal Financial Planning
[/vc_column_text][vc_single_image image=”6017″ img_size=”full” alignment=”center” onclick=”custom_link” link=”/2016/09/01/personal-financial-planning/”][vc_column_text]Financial planning is a key part of wealth management and a service offered to our clients as a benefit of doing business with Christian Financial Advisors®.[/vc_column_text][vc_btn title=”LEARN MORE” style=”custom” custom_background=”#163463″ custom_text=”#ffffff” shape=”square” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-arrow-right” link=”url:%2F2016%2F09%2F01%2Fpersonal-financial-planning%2F|title:Personal%20Financial%20Planning|” add_icon=”true” button_block=”true” css=”.vc_custom_1472146248708{padding-top: 10px !important;}”][/vc_column][vc_column width=”1/3″][vc_column_text css=”.vc_custom_1472147104787{padding-bottom: 10px !important;background-color: #e8e8e8 !important;}”]
Planning For Retirement
[/vc_column_text][vc_single_image image=”6019″ img_size=”full” alignment=”center” onclick=”custom_link” link=”/2016/09/01/retirement-planning/”][vc_column_text]Did you know that Christian Financial Advisors® offers a variety of services when it comes to retirement planning? Learn more about these services![/vc_column_text][vc_btn title=”LEARN MORE” style=”custom” custom_background=”#163463″ custom_text=”#ffffff” shape=”square” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-arrow-right” link=”url:%2F2016%2F09%2F01%2Fretirement-planning%2F|title:Retirement%20Planning|” add_icon=”true” button_block=”true” css=”.vc_custom_1472146369748{padding-top: 10px !important;}”][/vc_column][vc_column width=”1/3″][vc_column_text css=”.vc_custom_1472146473497{padding-bottom: 10px !important;background-color: #e8e8e8 !important;}”]
Investment Management
[/vc_column_text][vc_single_image image=”6018″ img_size=”full” alignment=”center” onclick=”custom_link” link=”/2016/09/01/investment-management/”][vc_column_text]We work hard to tailor the most appropriate portfolio strategies to our clients’ situations without using a “one size fits all” approach.[/vc_column_text][vc_btn title=”LEARN MORE” style=”custom” custom_background=”#163463″ custom_text=”#ffffff” shape=”square” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-arrow-right” link=”url:%2F2016%2F09%2F01%2Finvestment-management%2F|title:Investment%20Management|” add_icon=”true” button_block=”true” css=”.vc_custom_1472146586889{padding-top: 10px !important;}”][/vc_column][/vc_row][vc_row top=”20px” bottom=”10px”][vc_column width=”1/3″][vc_column_text css=”.vc_custom_1472147169952{padding-bottom: 10px !important;background-color: #e8e8e8 !important;}”]
BRI – How It Is Just Like Voting
[/vc_column_text][vc_single_image image=”6016″ img_size=”full” alignment=”center” onclick=”custom_link” link=”/2016/09/01/biblically-responsible-investing-just-like-voting/”][vc_column_text]Learn more about Biblically responsible investing and how it is similar to the way that we choose to vote.[/vc_column_text][vc_btn title=”LEARN MORE” style=”custom” custom_background=”#163463″ custom_text=”#ffffff” shape=”square” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-arrow-right” link=”url:%2F2016%2F09%2F01%2Fbiblically-responsible-investing-just-like-voting%2F|title:Biblically%20Responsible%20Investing%20-%20Just%20Like%20Voting|” add_icon=”true” button_block=”true” css=”.vc_custom_1472146712516{padding-top: 10px !important;}”][/vc_column][vc_column width=”1/3″][vc_column_text css=”.vc_custom_1472146951796{padding-bottom: 10px !important;background-color: #e8e8e8 !important;}”]
Tips & Tricks From Athena
[/vc_column_text][vc_single_image image=”6015″ img_size=”full” alignment=”center” onclick=”custom_link” link=”/2016/09/01/financial-tips-and-tricks-from-athena-savings-tips/”][vc_column_text]See what financial tips and tricks our favorite chocolate lab has to offer when it comes to advice on saving![/vc_column_text][vc_btn title=”LEARN MORE” style=”custom” custom_background=”#163463″ custom_text=”#ffffff” shape=”square” align=”center” i_align=”right” i_icon_fontawesome=”fa fa-arrow-right” link=”url:%2F2016%2F09%2F01%2Ffinancial-tips-and-tricks-from-athena-savings-tips%2F|title:Financial%20tips%20and%20tricks%20from%20Athena|” add_icon=”true” button_block=”true” css=”.vc_custom_1472146983766{padding-top: 10px !important;}”][/vc_column][vc_column width=”1/3″][/vc_column][/vc_row]
As you get closer to the finish line of life, it’s important to start thinking about your wealth distribution in three different ways. (more…)
It is estimated by many sources, that for the last few years approximately 10,000 Baby Boomers are retiring daily in our country. This is expected to continue for at least the next ten years. (more…)
Did you know the word “retire” only appears in the entire Bible one time? It is found in the Old Testament in Numbers 8:24-26. This scripture speaks of Levitical priests retiring at the age of 50 from serving in the temple, but it is not in the context we think of today. Instead it is instruction for the older generation to step down from leading in the work, but to continue helping and mentoring the younger generations in the faith.
Acts 20:35
In everything I did, I showed you that by this kind of hard work we must help the weak, remembering the words the Lord Jesus himself said: ‘It is more blessed to give than to receive.’
This will be the last and final part on Heritage Planning. Last week we covered the first 6 of the 12 Elements of Preserving Family Wealth. I would invite you to go back and read the first 6 elements if you missed last week. Today I will cover elements 7-12.
My last two blogs have been on Heritage Planning and last week we looked at some thought provoking questions to consider. This week we will cover the first 6 of the 12 Elements of Preserving Family Wealth.
PROVERBS 13:11 (NET)
Wealth gained quickly will dwindle away, but the one who gathers it little by little will become rich.
29 years in business have left me with a lot of knowledge about how people obtain wealth. In all those years, I have come to learn that most people have obtained wealth like a lot of others. I have come up with the ten most common ways that I have seen people gain wealth. Some of these strategies can be used by anybody. So take a look and see what changes you may be able to make to acquire and keep more wealth. I will share five of them with you today and five of them next week.