Retirement Savings and the Bible

Proverbs 13:11
Wealth gained hastily will dwindle,
But whoever gathers little by little will increase it.


As one in four of Americans do not have a retirement savings plan, financial awareness becomes more important for both individuals and couples. The median retirement account is $120,000 with only 36% of people believing their retirement planning is on track. Rising life expectancy and increasing healthcare also contribute to need for strategic preparation.

By 2020, 53% of Gen X and Millennials believed that it was likely they will use money in retirement plans for expenses other than retirement. 35% percent of Baby boomers thought the same. Due to the Covid-19 crisis, stress related to having enough emergency savings, job security, and job fluctuations have outweighed the burden of having enough money for retirement. This has directly affected the savings deficit for 25–64-year-olds which is totaling nearly $3.68 trillion.

Only 8.5% of people who contribute to a retirement account hit the maximum in 2018. The average contribution was $5,510. Contribution limits have increased for 2024, allowing workers to fund up to $23,000 to their defined contribution account. This could allow for more Americans to qualify for Roth IRAs. Finding the right strategy for you could include a dual system: contributing to both a Roth and traditional account. This is depending on your personal goals and what you want to achieve. Even if you are not able to max out your retirement contribution, storing up some of your wealth annually could result in a growth of security and financial independence.

As the verse states, gathering little by little results in growth. In my opinion, money you make honestly through your hard work will always reward you more than any monetary progress based on immoral means. This return can extend beyond retirement into the immeasurable value of paradise hereafter.



PricewaterhouseCoopers. “Retirement in America: Time to Rethink and Retool.” PwC, america.html. Accessed 21 Nov. 2023.

Data on Retirement Contributions to Defined Contribution (DC) Plans, Accessed 21 Nov. 2023.

Investment advisory products and services made available through AE Wealth Management, LLC (AEWM), a Registered Investment Advisor. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Agape Wealth, LLC. AE Wealth Management, LLC. provides services without regard to religious affiliation and the views of individual advisors are not necessarily the views of AE Wealth Management, LLC. 2111173 – 11/23

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