Can Retirement Stewardship Make you a Rich Fool?

This article is part of the RFLE series. It was initially published in August 2017 and updated in January 2026

[2026 Update: Nine Years Later]

When I wrote this article in 2017, I was just beginning to grapple with retirement planning. I was about a year away from retiring, and I was wrestling with the tension between saving adequately for retirement and Jesus’s warning about the “rich fool” in Luke 12.

Nine years later, at age 73 and eight years into retirement, I have a clearer perspective on this question. The answer remains what it was in 2017: Retirement stewardship doesn’t make you a rich fool—but it can, if your heart is in the wrong place.

The key distinction I’ve learned through experience is this: The rich fool’s problem wasn’t that he saved for the future. It was that he saved for the wrong purpose—solely for his own ease and comfort, with no thought for God or others. He was “not rich toward God” (Luke 12:21).

Looking back on my own retirement preparation, I’m grateful we saved as we did. Our accumulated savings, along with Social Security, have enabled us to:

Live without financial anxiety
Give consistently and generously to our church and ministries
Help family members and others when appropriate needs arise
Serve in various volunteer capacities in our church and community without needing to be paid
Respond to unexpected needs and opportunities

That’s not foolishness. That’s faithful stewardship that has enabled kingdom purposes.

But I’ve also seen the temptation to cross the line. When markets were up, and our portfolio grew, I felt the pull to celebrate the increase rather than see it as a solemn stewardship responsibility. When I read about retirees living lavishly, I felt the comparison trap. When healthcare costs or other expenses spiked due to inflation, I felt anxious about wanting to hoard rather than trust God’s provision.

The tension Jesus describes in Luke 12 isn’t theoretical; it’s a daily challenge. And the older I get, the more I realize that avoiding the “rich fool” trap isn’t about hitting some magic number or formula. It’s about maintaining the proper posture of the heart toward what God has entrusted to us.

The article below, written before I retired, holds up well. But I’ve made minor updates throughout to reflect the current context and what I’ve learned from actually living in retirement. The biblical wisdom remains timeless—I’m just more aware now of how challenging it is to live it out day by day.

The short answer is no, not if you practice retirement stewardship based on tried and true principles of biblical stewardship. In fact, “stewardship” and “fool” together in the same sentence is an oxymoron.

But it can be foolish to take anything—even something that is part of wise stewardship, like saving for retirement—to an extreme, or to do it for the wrong reasons or in the wrong way.

In this blog, I stress the importance of saving and investing for retirement. But I’ve also had conversations with friends about the biblical perspective on this practice. If we think some amount of saving is wise and good, how can we make sure we don’t become like the “rich fool” we read about in the Bible in Luke chapter 12?

Most of you are probably familiar with the parable—it’s found in Luke 12:13-21. At first glance, it seems to condemn saving for retirement, at least in principle. But other passages in Scripture suggest it is wise to save for anticipated future needs, such as Proverbs 21:20:

“In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.” (ESV)

So, on the one hand, it seems advisable to set aside enough money and invest it wisely so that we can meet our anticipated retirement needs. On the other hand, we are admonished not to store up riches for ourselves. What gives—how do we reconcile these seemingly contradictory perspectives?

The two extremes

Since the Bible seems to teach both principles, a balance can be found by avoiding the extremes on either end of the spectrum. It’s noteworthy that the Bible uses the words “foolish” and “fool” to describe both extremes of the spectrum of saving.

First, it can be foolish to save nothing or too little, especially if we know we will have future needs and funds won’t be there when they’re needed. Failure to save is a chronic problem in our culture, which creates significant difficulties for individuals and families. If we follow the example of the ant in Proverbs 6:6-11—a self-starting, industrious creature that doesn’t need to be prodded—we will have food and provisions for other necessities when we need them. The warning in verse 11 describes the sad outcome (poverty) that awaits those who don’t heed it.

Tim Challies, in an article titled “Financial Mistakes We Made and Avoided,” describes how he avoided the mistake of saving nothing at all by taking a careful, measured approach starting when he was pretty young:

I began moving very small amounts of money into an RRSP (the Canadian equivalent to a 401(k)) when I was only twenty and did so on the advice of a friend of my parents. Just a few dollars a month and a portion of each year’s tax rebate has added up over the years, and it has been slowly growing in a mutual fund. As income has increased, we have slowly nudged up our contributions and have learned to live without those amounts. While we are still far, far away from a reasonable retirement goal, we are further ahead than we would otherwise be, and that money has another thirty years to gain interest before we can even touch it.

That’s wisdom—starting early, being consistent, and letting time and compound interest do their work.

But on the other extreme, saving can become hoarding, which is also foolishness. Ecclesiastes 5:12 says, “…the abundance of a rich man permits him no sleep.” Why? Perhaps because he worries about his wealth out of fear that he will lose it or that he doesn’t have enough. Verse 13 continues: “I have seen a grievous evil under the sun: wealth hoarded to the harm of its owner.”

The hoarder saves more than he needs and holds on to it tightly because he is putting his faith and trust in his riches rather than in God.

Hoarding is foolish because we are acting as owners instead of stewards. That was the problem with the rich fool—he was consumed with himself. He was only focused on this life, not the life to come. God was a non-factor in his thinking. He thought he was clever, but God called him a fool and took his life that very night.

How much should we save?

If it is foolish to save nothing or too little, what amount of retirement savings is biblically wise and appropriate? The answer, as Jaime Munson wrote in Money: God or Gift, can be found in Scripture:

We live in a world of unexpected car repairs, costly medical care, and long life expectancies. It would be foolish—and dangerous—to spend all our resources on day-to-day expenses. The lesson of the Rich Fool is not “don’t plan.” Rather, the Bible offers numerous guidelines for how to save for the future in a way that honors God.

These guidelines can help us practice wise retirement stewardship without becoming the “rich fool” in Luke 12.

The Bible teaches that it is good and wise to plan for retirement so that we are not a burden to the church, our families, or society (1 Timothy 5:16; 1 Thessalonians 2:9).

If we make provision for ourselves in retirement, we won’t be consuming church resources that could be used by those with greater need, such as widows and orphans. Nor will we put an undue burden on our family or on government programs. Not saving for retirement violates these principles, especially if we fail to plan and then expect the church, family, or government to provide for us when we’re older.

Although temporary dependence on others may arise from unexpected circumstances, deliberately placing ourselves in a vulnerable position due to poor planning or excessive consumption is irresponsible. If we work, save, and invest wisely, we’re doing all we can not to be a burden on others—and we’re positioning ourselves to help others, which is a much better place to be.

Some amount of saving is wise, but the key to not becoming a “rich fool” is to look at the whole of what the verses in Luke chapter 12 say. The problem with the rich fool wasn’t just that he stored up riches for himself, but also that he was not rich toward God. The real issue wasn’t necessarily that he saved, but his heart—his selfish attitude and his desire to create his own surplus for his own purposes.

In Luke 12:19, he says to himself, “You have plenty of grain laid up for many years. Take life easy; eat, drink and be merry.”

That attitude reflects much of the contemporary popular view of retirement: Work hard for an extended period until you have enough money saved to stop working and take it easy, enjoying hobbies like golf, travel, and visiting family.

If we look closely, we’ll see that this cultural idea about retirement is precisely how the rich fool thought. He stored up enough wealth so he could take it easy and enjoy life—he was all about himself.

That is not the basis of biblical retirement stewardship. If the only reason we plan is to store up wealth so that we can take life easy, we’ve missed the whole point of the Christian life. Our obligation to God is much greater than that. As Art Rainer writes in The Money Challenge:

Certainly, we save to prepare ourselves for future events. But there is more. We save to give. We save so that we can live generously. We prepare for the future so that we don’t use an unnecessary amount of money and time on the inevitable. Setting aside money ends up freeing up future money and time that can be used to live generously.

Living out our lives in retirement as stewards of all that God has given us means a life of service and generosity. That is the main way we can balance appropriately saving for retirement while also being rich toward God. In fact, wisely storing up can help one to be rich toward God. Art Rainer describes it this way:

Because they do not think of themselves as owners, they don’t talk about “their” possessions. They know that any possession they hold is God’s, and it is their responsibility to manage it well for God’s purposes. Their possessions are just tools to be used for generosity. They truly believe God did not design us to be hoarders, but conduits through which His generosity flows.

Those who have a heart to use their resources to give and serve others in retirement are rich toward God. And even if we have saved, God must always remain our hope. We cannot put our trust in earthly wealth.

[2026 on the 2008 lesson]

I mentioned in the original article the stock market crash of 2008. At the time, I was still working and watched my 401(k) lose nearly 40% of its value. It was scary—but it also taught me a crucial lesson about where my ultimate security rested.

Those who had trusted entirely in their portfolios were devastated. Some delayed retirement for years. Others panicked and sold at the bottom, locking in their losses.

But those who recognized that God, not their portfolio, was their ultimate provider were able to stay the course. The markets recovered—as they always have—and those losses were eventually recouped and exceeded.

Since retiring in 2018, I’ve lived through the COVID crash of 2020, the inflation spike of 2021-2022, and the various market gyrations of recent years. Each time, I’ve been reminded: my hope must be in the God who always provides for His people, not in the wealth that can disappear in an instant.

We do what we can, within limits, to provide for ourselves and our family. But we are ultimately entirely dependent on God. Saving for retirement doesn’t change that—it should deepen our recognition of it.

Do both

The good news is that this is not an either/or choice, but rather a both/and one. We need to save to reach a reasonable retirement finish line while not neglecting our obligation to be rich toward God. This can be harder than it sounds, so here are some ways to help you find balance:

Set a retirement savings “finish line”

One way to maintain balance is to set limits on retirement financial security. In their excellent book, God and Money: How We Discovered True Riches at Harvard Business School, authors Baumer and Cortines discuss the idea of a retirement savings “finish line”:

We have come to believe that saving for retirement is wise in the right context, but overly aggressive accumulation prioritizes personal comfort above our mandate to share the Gospel and the love of Christ with the world. We have decided that if we start getting ahead of pace on saving for an old-age retirement, we’ll scale back, allowing us to give more or save in other areas in the present.

What the exact retirement “finish line” should be for you is an individual matter. For Baumer and Cortines, writing in 2016, it was around one million dollars in 2016 dollars. They put “financial independence” at an additional four million dollars, which they viewed as the “absolute upper limit” on wealth accumulation in their lives:

So long as we are north of one million dollars but south of four million, active and intentional stewardship will be required to guide the giving away or accumulation of funds. Above four million, we will “chop off” the top of our net worth. Below one million, we will strive to gain wealth as we make provision for our families. In between the two values, we will prayerfully consider our situation and make active decisions about whether or not to increase our personal wealth.

[2026 note on “finish line” numbers]

These specific dollar amounts need to be updated for 2026. With inflation since 2016, their $1 million “retirement adequacy” number would be approximately $1.3—$ 1.4 million in today’s dollars. Their $4 million “financial independence” cap would be around $5.2—5.3 million.

But more importantly, I’ve learned that “finish lines” aren’t just about numbers; they’re about the relationship between your resources and your calling. What’s “enough” for one person may be inadequate or excessive for another, depending on:

Health and healthcare needs
Family circumstances and responsibilities
Geographic location and cost of living
Ministry and service opportunities
Specific calling from God

The principle of setting a finish line remains wise. The specific number must be determined prayerfully and contextually.

These numbers may seem high to some (they did to me when I first read this). But keep in mind that Baumer and Cortines are successful Harvard MBA graduates and relatively high-income earners who started saving early in life. One of them had initially planned to retire in his 40s by saving very aggressively, but he changed course when he discovered what the Bible teaches about the “rich fool.”

Different life circumstances may dictate different responses. Each of us must discern our calling and circumstances and set financial goals accordingly. For example:

If you’re well into your 50s and haven’t saved much for retirement, you may need to increase your savings rate significantly—even beyond your giving temporarily—to ensure you have the basics covered.
If you’re close to retirement and have more than you need, you could reduce or stop your saving and divert that money to more generous giving.
If you’re young and starting early, you can balance saving and giving more evenly over decades.

Increase your giving percentage as your income increases

Another way to find the right balance is to increase your giving as your income rises, while also increasing your savings. If you can keep your spending in check, you’ll be able to give more and save more as your income rises. Better yet, increase your giving at a higher rate than you increase your saving.

Art Rainer explains it this way in The Money Challenge:

…God lays out a pattern for proportional giving. This means that those who have less are giving less and those who have more are giving more…God asks his people to give in proportion to what he has given. There should be a relationship between the amount God gives you to steward and the amount you give to others.

For example, if you’re giving 6 percent of your income and you get a 10 percent raise, consider increasing your giving to 10-12 percent and your saving by 2-4 percent. If you intentionally set a “lifestyle limit” for spending (similar to a “retirement finish line” for saving), you’ll create more margin to increase giving over your lifetime.

[2026 reflection: my own practice]

Looking back on my working years, I generally gave more of my income than I saved for retirement. For most of my career, I saved just enough in my 401(k) to get the full employer match—that meant my retirement savings didn’t grow as fast as they could have in my younger years, but I was content with a slow and steady approach that allowed for generous giving.

Now in retirement, I continue to give more than I “save” (in the sense that I give away more than my portfolio grows through returns after withdrawals). This has provided tremendous peace and joy—using wealth for kingdom purposes rather than just watching it accumulate.

Different people will make different choices based on their circumstances. But the principle remains: as God provides more, give more. Don’t just spend more or hoard more.

Cultivate heart attitudes of gratitude, contentment, and trust in God

There are other ways to be “rich toward God” beyond what we do with our money. They have to do with our heart attitudes toward what God has given us:

Gratitude for whatever we have and the recognition that life does not consist in the abundance of our possessions.

Contentment with what God has provided, refusing to constantly compare ourselves with others or chase the next level of affluence.

Trust in God rather than in our wealth—living a life not based on anxiousness or fear about the future or the need to create our own security by accumulating more than we need.

We avoid covetousness and intentionally pursue a lower standard of living (relative to our income) and lower levels of savings than our peers, because our giving and trust in God, not money, shape our financial life.

In short, if we strike a balance between this life and the life to come, we can avoid both the foolishness of not saving at all and the foolishness of saving for the wrong reasons, like the rich fool in Luke 12.

Retire to give, not to get

Being rich toward God in retirement means, as Jaime Munson wrote, “retiring to give—not to get.” He explains:

Faithfully saving money over the course of a lifetime and having the ability to quit your job is not a bad thing, provided your post-work years are spent worshiping Jesus (not comfort and ease). In fact, such a transition could be a great gift if the extra time is used to start a business that gives the proceeds away, invest in our families, serve our church, and help those God brings into our life.

The problem with the rich fool is that he treated his wealth as his own, not as a gift from God. So when he died, he lost everything. If we save but also focus on others—spending and giving in ways that honor God—we will grow rich toward Him. And when we die, we may lose a little remaining earthly wealth, but we will gain everything in eternity (Colossians 3:1-4).

[2026 closing reflection: finding the balance]

Nine years after writing this article, and eight years into retirement, I can testify that the principles remain true—but living them out requires ongoing vigilance.

The temptation to become the rich fool doesn’t disappear when you retire. If anything, it intensifies. You have the wealth. You have the time. You face the daily choice: Will you use your retirement for your own ease and comfort, or will you leverage your resources and freedom for kingdom purposes?

I’ve tried to choose the latter, though imperfectly. But that would not have been possible without adequate preparation—without the “wealth” I accumulated during my working years. But the preparation was just that: preparation for kingdom service, not accumulation for selfish ease.

The question Jesus asks in Luke 12:21 remains relevant every day: Will you be “rich toward God”? That’s the difference between wise retirement stewardship and the foolishness of the rich fool.

Save for retirement. Prepare adequately. But save with the right purpose: not so you can take life easy and be merry, but so you can live generously and finish faithfully.

That’s retirement stewardship that honors God.