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DW and I currently tithe on our income but I have wondered how we will do this in retirement. The Bible teaches to give a tithe of our increase so I assume that when I start taking distributions from my retirement accounts, that I will be given information as to how much of my distribution was cost basis? If so, then I would tithe on the balance. I don't want to be legalistic because giving is suppose to be from the heart, but I have already tithed on the amount I invested. I would be interested in how the rest of you do this.
This is the same question as Social Security. If you have been tything on your income all your working life, then you have paid on a certain dollar amount of your SS. You should be figuring out how much you paid in and then start paying tything once you have received that much back, Then you would be paying on increase.
This is the same question as Social Security. If you have been tything on your income all your working life, then you have paid on a certain dollar amount of your SS. You should be figuring out how much you paid in and then start paying tything once you have received that much back, Then you would be paying on increase.
Is tithing a expected dollar amount or a percentage of income? As a percentage of income it would go down when and if retirement income was less. I wonder if those retiring/ living on the margin will still find themselves able to afford that 10 percent. Reducing benefits like SS and pensions quite possibly will have a ripple effect in tithing and charitable giving.
If we could afford to contribute the recommended 15% annually to our retirement savings, could be do that and tithe 10%? How many of us are limiting or not saving at all so we can make our annual tithe.
Both are possible.
We fully fund the 401k, 403b, etc., and tithe.
We believe that we are very blessed and it is our duty to give back at least 10% of what we have been given.
We did not start out giving 10%. But as we stepped out of our comfort zone and upped our giving, the income rose. And every year that we gave more, we got more the next.
When DH retires, the tithe will remain, but of course the amount will decrease.
We give of our time also.
There are so many in need...
IMO, a person needs to be able to tend to their own needs first. People who give to others before taking care of themselves are likely going to need help themselves down the line.
If people are not contributing sufficiently to retirement to take care of themselves in the future in order to take care of others now, I don't think that's a wise move.
For what it's worth, I know very few people who tithe, largely because they cannot afford to. They give what they can, but not a 10% tithe.
I agree. You have to pay yourself first. Then you can help others. I don't subscribe to the magical thinking that says if I give away my food money this week that more money will appear the following week because I did something good.
As to the OP's question, if your income goes down in retirement, then your 10 percent will be a lower dollar amount. If you tithed all your life based on your gross income, then you shouldn't have to tithe on any money you withdraw from your retirement or other investment accounts... you already gave away money based on that.
As you can probably tell, I did not come from a background that required or promoted the idea of tithing.
Obviously going to depend on your income, cost of living, savings rate, other debt service obligations, lifestyle, etc. There's no one size fits all answer.
In my town, median household income is right around $35,000. Two people with no kids living at that income level are going to barely subsist, if that - and may need assistance. One person living on that level of income may have some room in the budget, but not a lot. Neither are going to be saving much for retirement. Tithing and saving for retirement is going to be tough on that level of income, unless you are cut to the bone, abnormally frugal, simply because there isn't much income to go around. With half the households below that, there's not going to be much left to tithe because many will be functionally paycheck to paycheck and have difficulty meeting routine bills.
If you want a back of the napkin number answer, I'd say it would need to be around $100,000 HHI here for a couple with a kid or two to be comfortable, save for retirement, tithe, and have some left over.
True. There is a level of poverty that you can't keep up routine expenses with, but most people make do with what they have and are not starving in the streets, being foreclosed on, etc.
You have obviously thought seriously about this question and are to be commended. But, as I said earlier, there is both a Spiritual and financial component to the question of how much one must have to be able to tithe. 'Tithing', of course, is a Godly principle, and should be dealt with from a Godly perspective.
Financially, we are generally talking in percentages, not equal dollars (for example, in the world's economy, one making $100K might better be able to give $10K+ and live on $90K, than one could give $3.5K and live on $32.5K), but it doesn't work that way in God's 'economy.' God actually "owns" all of it and simply giving back the first 10% is only a rightful obligation. Further, one doesn't use the same type of "not enough to tithe" thinking ... when it comes to taxes -- They find a way.
Spiritually, God is not concerned about the amount, but the heart-level commitment, as evidenced in the parable of the widow with two mites - compared with the wealthy man (Luke 21). Tithing is only one of God's ways of teaching us to trust in His faithfulness, not our worldly 'cash register.' Paradoxically, those who are more faithful in their giving, soon discover that God more than makes up any perceived deficit ... while those who depend only on their own view of retirement needs and dollars and cents, depend on that and fail to learn about God's faithfulness.
Matthew 6: 19 -20 accepts good works if you cannot afford the 10%. Did Mother Tereasa ever accept a dime for her works? Did she tithe millions of dollars? I am not a member of the Catholic faith but Mother Teresa set an exmple for ALL Christians.
Quoted from another poster. "How many of us limited our own financial security to help others in greater need? We can often be critical of those who have not reached the point of having saved enough for their retirement but are there reasons we don't discuss that have what for them might be a greater moral imperative?"
You have obviously thought seriously about this question and are to be commended. But, as I said earlier, there is both a Spiritual and financial component to the question of how much one must have to be able to tithe. 'Tithing', of course, is a Godly principle, and should be dealt with from a Godly perspective.
Financially, we are generally talking in percentages, not equal dollars (for example, in the world's economy, one making $100K might better be able to give $10K+ and live on $90K, than one could give $3.5K and live on $32.5K), but it doesn't work that way in God's 'economy.' God actually "owns" all of it and simply giving back the first 10% is only a rightful obligation. Further, one doesn't use the same type of "not enough to tithe" thinking ... when it comes to taxes -- They find a way.
Spiritually, God is not concerned about the amount, but the heart-level commitment, as evidenced in the parable of the widow with two mites - compared with the wealthy man (Luke 21). Tithing is only one of God's ways of teaching us to trust in His faithfulness, not our worldly 'cash register.' Paradoxically, those who are more faithful in their giving, soon discover that God more than makes up any perceived deficit ... while those who depend only on their own view of retirement needs and dollars and cents, depend on that and fail to learn about God's faithfulness.
The religious devotion aspect of it is completely separate to whether it is financially responsible to do it. If you are low income and feel this compulsion, you will sacrifice retirement savings and most other things.
My experience is: I never tithed in my life until I returned to my "biblical roots" in my late 40's. I worked, my husband was retired and collecting a pension. I began by pledging $20.00/mo (from my paycheck) to K-Love during a fund raising event. Husband was not happy.
Marriage blew up in 2011, my life was in the pits, finances became unreliable, tithing stopped. Fast forward to 2013, when I was blessed with my house, a PT job, then another PT job in early 2014. The money flow became more settled, and I was able to tithe 10% of my earned income again.
What I do now with any earned money, not with my pension income, is to tithe 10% off the net. The one job I have to take out taxes, so after that 10% goes into savings for taxes, I take off 10% of the remaining. I now have added occassional house/pet sitting to my jobs list, and I tithe 10% from that income as well.
I pledge a set amount to my church for normal expenses in running a church. Over and above that, I use tithe money to donate to any charitable request that touches my heart as well as extra projects at my church. I have given tithe funds to flood victims charities, to Fair Trade organizations, to local shelters, food banks, CBN for third world countries that need clean water, to K-Love for their ministries to others, to my favorite pastor's radio ministries, to organizations that sell items outside Wal-Mart (nice "cross" jewelry and t-shirts (Real Women (heart) Jesus) in return), playground equipment at my church, kneelers for the wood alter at church, anything that "speaks" to me. It is amazing how far 10% of just my earned income goes. I keep tithe money in cash in the house in order to be able to do this. When I pledge, I just deposit said amount in checking account to cover the check or the debit card donation.
What a great thread! We have tithed all our lives and we have never gone without necessities. We didn't drive fancy cars through those early years but God provided. I do also feel that it taught us to live within our means. Wife always had a budget plan for us and we knew that we had to be careful with our money. We have financed cars and houses in our early years but now have two properties free and clear ( just taxes) and pay cash for cars. We are fortunate and I thank God for his blessings to us.
I agree that the tithe does not necessarily have to all go to one place. I do think that you should support the church or synagogue where you are being "fed". There are utilities , full and part-time staff that need to be compensated. But, if you have other faith based organizations that you feel you want to support, then that is certainly your prerogative.
It is a blessing to me to have in our retirement the resources to support various ministries as well as arts organizations .
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