By Mark Senseman
In the challenging and rewarding work of ministry, it can be easy to focus your energy on serving others while neglecting essential aspects of your own life. For pastors and church staff, the demands of ministry pull in many directions. Whether it’s preaching, counseling, or managing the countless details that come with leading a church, your role is vital—but it can also be overwhelming.
Christian leaders have been entrusted with the sacred task of shepherding God’s people. Hebrews 13:17 reminds us of this weighty responsibility: “Obey your leaders and submit to them, for they are keeping watch over your souls, as those who will have to give an account. Let them do this with joy and not with groaning, for that would be of no advantage to you” (English Standard Version). Your work matters, not only to the congregation you serve but also to the broader kingdom of God. Yet, leading well in your workplace and ministry also means stewarding your personal and financial life with care and wisdom.
The Importance of Personal Financial Stewardship
For many pastors and church staff, personal financial stewardship can feel like a secondary concern compared to the pressing needs of ministry. However, ensuring financial stability is an essential part of being able to serve well—not just today but for the long term.
My father, a faithful pastor for over 40 years, spent much of his ministry serving in small and midsized churches. Like many of his peers, he opted out of Social Security early in his career and trusted that God would provide for his needs. While he did his best to save and invest in a tax-sheltered retirement account, he lacked the resources and guidance that could have helped him feel more secure. I know he often wondered, “Will it be enough?”
This story is not uncommon. Studies have shown the number one challenge pastors face in preparing for retirement is they don’t start early enough. The second issue is inadequate pay, which makes it difficult to save consistently. Finally, many pastors and ministry staff lack financial education and a concrete plan, leaving them to navigate their financial future like throwing darts blindfolded.
Biblical financial stewardship is not just about numbers; it’s about equipping you to live out your God-given purpose. Consider these four keys as you are saving and investing in a retirement plan.
Fees and Transparent Expenses. Prioritize keeping fees lower than the industry average, ensuring more of your money works for you.
Financial Planning Services. Whether you’re just starting or nearing retirement, focus on getting someone to provide personalized guidance tailored to your situation. Some ministries provide this service at no cost.
Minister’s Housing Allowance. The IRS designation allows retired ministers to claim this valuable tax benefit, maximizing your income during your working years and into and through retirement with a 403(b) 9 church plan.
Family Legal Documents. Make sure you have a will and other family legal documents. Without documents like a will, a living will, and a durable power of attorney, your financial affairs will be left up to the court system and probate. Make your wishes known and have these documents updated regularly.
Life’s demands can make it hard to prioritize saving for the future. But even small, consistent steps taken today can lead to significant outcomes over time.
Why Your Role Matters
As a pastor or ministry leader, you’re making an eternal impact. The late Eugene Peterson once described pastoral ministry as “a long obedience in the same direction.” Your years of faithful service often happen behind the scenes—visiting the sick, mentoring the young, and teaching God’s Word week after week. These acts of service might not always be visible, but they matter deeply.
However, your ability to continue making that impact depends on your personal well-being, including your financial health. When you neglect planning for your future, you may find yourself wrestling with uncertainty and stress—feelings that can undermine your ministry. To compound the issue, many pastors lack the confidence or ability to advocate for themselves when it comes to compensation and benefits. Conversely, when you take intentional steps to plan, you create space to serve with confidence and joy, knowing that your needs are being met.
Practical Steps to Take Today
Here are some practical steps you can take to make this area of your ministry a priority.
Start early (or start now). If you haven’t begun saving for retirement, now is the time. Even if you save only a small amount each month, consistency is key. Over time, those contributions will grow.
Seek wise counsel. Proverbs 15:22 reminds us, “Plans fail for lack of counsel, but with many advisers they succeed” (New International Version). Partner with a financial advisor or a trusted organization like Servant Solutions to develop a clear plan for your financial future.
Take advantage of available resources. Many pastors are unaware of the tools and benefits available to them. For example, the minister’s housing allowance can significantly reduce your tax burden during retirement. Make sure you’re leveraging all the resources at your disposal.
Educate yourself and your family. Financial literacy benefits everyone. Take time to learn about budgeting, investing, and retirement planning. Involve your spouse or family in the process.
Trust God while acting wisely. Faith and stewardship go hand in hand. While we trust God to provide for our needs, we are also called to manage the resources he’s entrusted to us with wisdom and care.
A Hopeful Future
Retirement doesn’t mean the end of your call. In his book, Not Too Old, David Faust encourages those nearing retirement in a new, refreshing, and forward-thinking way.
Re-tired makes me think of a car that needs new tires, or at least the tires need some new tread. This is a helpful analogy, because being retired doesn’t mean you stop moving forward; it means getting ready for the next part of your journey. The happiest retirees are those who have re-tired by discovering some new tread so they can keep rolling along on their journey with the Lord.
Ministry continues as long as we have breath. Whether it’s mentoring young leaders, volunteering in your community, or supporting global missions, God’s purpose for your life doesn’t stop when you step away from full-time work.
By planning well today you can enter retirement with hope and confidence, ready to embrace the next chapter of your calling. Imagine the freedom of being able to focus on what truly matters—loving God, loving others, and making a kingdom impact—without the distraction of financial stress.
Take the Next Step
Perhaps this resonates with you but you’re thinking, “What do I need to do?” You’re not alone. Many servants of the church aren’t paying attention to retirement planning. I know people who consider it their ministry to help servants like you. A biblical financial advisor who has your best interests at heart and understands ministry finances can help you get started and feel confident in making important financial decisions regarding retirement planning.
You’ve spent your life serving others. You deserve someone who can serve your financial and retirement needs equally as well, so that you can continue to seek first the kingdom of God.
Mark Senseman is Director of Business Development for Servant Solutions in Anderson, Indiana. For over 75 years, Servant Solutions has been helping church staff and ordained ministers achieve greater financial security so ministry leaders can focus on their calling without the burden of financial uncertainty.
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