Retirement planning!

January is turning into quite a social month, as many people have a little more free time before school and many other activities start in a week or so. I’ve struggled to find time to write this week, but do have a post I started before Christmas that didn’t seem quite festive enough at the time. So here it is:

We've been working on longer-term financial planning these last few months. We do short-term financial planning each year as our mission requires us to put together a budget, which gives a set support figure to judge how our support is going. This is a complex, but helpful process that means we're using our resources responsibly, and anticipating future (near) needs as best we can, for example the need to fly to home assignment, or to go to a conference, or buy “new” furniture or a car after home assignment, or replace our aging computer. All these things are budgeted for well in advance. Australia is more expensive than Japan these days, so we budget for our living expenses over several years preceding each home assignment.

We don’t have much of a garden: in
many ways this is a blessing because
it doesn’t take much of our time, so
we’re freed up to devote ourselves to
other things. We do get to enjoy gardens
that other people maintain, though, also 
known as parks!

But as we've both entered our 50s this last term, we decided it would be good to talk to a financial planner about the longer-term future. We wanted an expert's opinion on how are things looking for a retirement in Australia sometime before we hit 70.

Well, we've been very encouraged. We found a Christian who has given us a significant discount for his assistance. And he's given us reassurance that, from what he can see and what he knows, from a worldly perspective, we'll be okay. Of course we have no idea what God will provide, but look forward to seeing that too!

It's at this point that we're very thankful that God led us to be part of a mission organisation that takes long-term member care seriously. And also that we live in a country where financial planning for the future is also taken seriously. So, both of us have had the organisations we've worked for contributing to our superannuation funds (US readers: similar to 401(k)) since we started working in our early 20s, yes, even when we've been working overseas, and these funds are adding up.

This part of life not something missionaries talk about very much. Most people only hear about finance from missionaries when they are in need of more financial support for the immediate future.

But also, in mission circles there is also an understanding that God provides in amazing ways that you can't anticipate. He has been providing for us for the last 23 years, why wouldn't he provide for us in the future, and into retirement too?

It's pretty obvious to us, as we come back each time, that most of our peers are doing things like buying houses, some even getting to the point of finishing paying off their mortgage. We don't own any property. The biggest thing we own is a car. We can't afford to buy real estate in Australia, partly because most of the time we can't live in a house we'd buy in Australia. But we also shy away from the anxieties that arise from owning property in a country where you don't live and from the stress of a mortgage. We've seen the stress that that can cause missionaries (maintenance issues, complex financial affairs that are hard to deal with remotely, tenant issue, etc.).

It’s easy to start to rely on the figures on a spreadsheet though, to trust in that, instead of our Heavenly Father. God has ways of reminding of us of that. But the best thing to do, when we’re distracted by all the dialogue around us (in the media as well as in conversation with friends) about real estate, mortgages, money, banks, stuff to buy, etc, is to go back to God’s word. One of the places Jesus directly addressed these things is in Matthew 6 where he said:

So do not worry, saying, “What shall we eat?” or “What shall we drink?” or “What shall we wear?”  For the pagans run after all these things, and your heavenly Father knows that you need them.  But seek first his kingdom and his righteousness, and all these things will be given to you as well.  Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.

We’re grateful we don’t have much stuff to take up a lot of our time to maintain, but it’s in the mental zone that we need to fight the battle not to worry (at least it is for me).