Security
We met with a financial advisor today about our IRA investments. They have lost quite a bit of value---maybe a third?
The advisor said that he offers a free service of helping people identify their sources of retirement income. After doing this, he works with his clients to discern whether they have enough to maintain their current standard of living after retirement. They figure out a financial plan to reconcile the need with the reality.
We have not done a lot of retirement planning. When the advisor asked Chuck if he planned to start withdrawing from his IRA's in the next five years we both were surprised. I guess within five years he will have reached the age where he can do that without penalty.
This kind of discussion always brings up faith issues for me. Retirement, insurance, and other plans to make sure that my needs are always met take away a sense of being dependent on God. I don't know if God sees this as being a good steward to spend time figuring out how I can continue to live at my present standard of living after retirement. It would certainly keep me from being a burden to others, I guess.
But there is this risk taker side of me that wants to be more dependent on God. I think one of the real drawbacks of being part of a wealthy nation is that we have this sense of security that is based on our wealth, rather than on reality. We have paid to take away the risk of poverty. Our health insurance, car insurance, life insurance, and retirement plans all keep us insulated from that risk.
Of course, Chuck and I have all those things. We haven't pulled ourselves out of the system of security yet.
We did just change from standard health insurance to a health savings plan combined with a high deductible health insurance. It cuts our premiums down by half, and also gives us a bigger tax break and even in a worst case scenario, leaves us better off financially than our previous lower deductible policy. So it was a smart decision.
But what about not worrying about tomorrow? What about seeking first God's kingdom and righteousness and leaving the rest up to God? Does anyone do that who isn't forced to do it by economic necessity?
The advisor said that he offers a free service of helping people identify their sources of retirement income. After doing this, he works with his clients to discern whether they have enough to maintain their current standard of living after retirement. They figure out a financial plan to reconcile the need with the reality.
We have not done a lot of retirement planning. When the advisor asked Chuck if he planned to start withdrawing from his IRA's in the next five years we both were surprised. I guess within five years he will have reached the age where he can do that without penalty.
This kind of discussion always brings up faith issues for me. Retirement, insurance, and other plans to make sure that my needs are always met take away a sense of being dependent on God. I don't know if God sees this as being a good steward to spend time figuring out how I can continue to live at my present standard of living after retirement. It would certainly keep me from being a burden to others, I guess.
But there is this risk taker side of me that wants to be more dependent on God. I think one of the real drawbacks of being part of a wealthy nation is that we have this sense of security that is based on our wealth, rather than on reality. We have paid to take away the risk of poverty. Our health insurance, car insurance, life insurance, and retirement plans all keep us insulated from that risk.
Of course, Chuck and I have all those things. We haven't pulled ourselves out of the system of security yet.
We did just change from standard health insurance to a health savings plan combined with a high deductible health insurance. It cuts our premiums down by half, and also gives us a bigger tax break and even in a worst case scenario, leaves us better off financially than our previous lower deductible policy. So it was a smart decision.
But what about not worrying about tomorrow? What about seeking first God's kingdom and righteousness and leaving the rest up to God? Does anyone do that who isn't forced to do it by economic necessity?
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