Give her the reward she has earned,
and let her work bring her praise at the city gate.
Proverbs 31:31
Passage to Read:
For God is not a God of disorder but of peace.
1 Corinthians 14:33
Prayer:
Dear Lord,
I give you thanks and praise for all that you have done for me. I thank you for being my Prince of Peace. Through your death on the cross and your resurrection you have bought for the me the right to have peace with the Father. Just as you have given me peace for my spirit I seek peace for my mind. Thank you for plainly tell me that you are the God of peace and not disorder. If I experience anything in my life that is not is order it means that it has not yet come under your lordship. Holy Spirit help me to have peace in all areas of my life. Reveal to me anything that is not in order with God. Give me the power to let God rule every area of my life. So that my life will be peaceful. Lead me on the path of peace. In Jesus name I pray, amen.
Personal:
Today Donna gives us a warning as women to become financially prepared for our later years (post-retirement years). She gave some sobering statistics.
- There are 78 million American baby boomers.
- Many have alread entered retirement. Over the next two decades, the rest will follow.
- Life expectancy is now 77.9 years in the United States.
- People who are 85 years of age or older constitute the single most rapidly growing group in our population.
- The number of Americans over 100 years old is also growing exponentially.
Donna also states "there are millions of again people, many of whom will not contribute to the economy or the financial well-being oof their families--unless they've planned ahead. . . . millions of people will require vast financial resources, including funding for health care." She then asks if we have considered what we would live on if God grants us one hundred years or more? Would we be able to live on our investments or would we have to live off our children?
Donna next shares the story of her husband's great-grandfather who is 104, still active and still busy and still earning money from the multiple streatms of income that he established. She says that he can enjoy his long life because he was financially prepared for it. Then she goes on to share the statistics of Kim Kiyosaki, author of "Rich Woman":
- 47 percent of women over 50 are single.
- Approximately 7 out of 10 women will, at some time, live in poverty. For most of them, it will be during their retirement years.
- 80 percent of widows now living in poverty were not poor before the death of their husband.
- Women's retirement income (social security, pensions, 401(k)s will be lessened because, on average, a woman is away from the work force 14.7 years as compare to 1.6 years for men.
Donna asks "Have you thought about what will happen to you when your husband dies?" She shared that when her father died her mother's Social Security check was immediately cut in half. It is only because her mother has children willing and able to help her out financially that she can make it. She also asks us to think about the fact that more than 50 percent of marriages end in divorce and that a woman's standards of living drops 73 percent after a divorce. She also states that the percent of divorces is actually higher amonty American evangelical Christians.
Donna then states that "when we read these statistics and this inormation, we can respond one of two ways: like a victor or a victim." A victim expects someone else to help her out by changing the laws or that her children will take care of her. A victor says "God has given me a good mind which I can apply to making wise financial choices for my future" The Proverbs 31 woman could laugh at the days to come because she prepared for them. In order for us to laugh at the days to come we need to also be prepared. "Your children will definitely arise and call you blessed when they find out you are financially able to care for yourself until God calls you home." is Donna's last statement for the day.
Affirmation: I can laugh at the days to come because I am financially prepared for them.
Practical:
I have already taken the actions that Donna discusses. This is one of the reasons I went back to school and got my Master's Degree in a profession I can continue to work in regardless of physical ability. I have begun to explore other streams of income that could also be contined long after I retire, plus I will keep from retired as long a possible and hope to be able to do so until age 72. I have also computed my monthly income without consideration to any income from my husband. Something else we did was include as part of our monthly mortgage payments the insurance where if either one of us dies while the house is still under mortgage which most likely will happen the mortgage is automatically paid off. I have already made use of the retirement planning tools which are a part of my 401(k). The one thing I wish I had taken advantage of when I first started working for my current employer is long-term care because now it is very hard to get. I can get it throught AARP but it is extremely expensive. Here are some websites if you have not done the same.
Charles Schwab at www.schwab.com
Vanguard at www.vanguard.com
Fidelity at www.fidelity.com (which is the company my 401(k) is with).
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