Financial Stewardship - Assignment Example

Financial Stewardship Financial Stewardship Planning for my retirement is one major issue in my life. People spend years building their nest egg so as to retire when they are financially and mentally prepared. As a Christian, managing your finances is an inevitable task.As such, I will adopt cash-balance plan so as to achieve my retirement objective. That is, instead of my retirement benefits being subjected to a formula which takes into consideration how long I was on my job and my average income during my last years of employment, this plan will credit my account with certain set percentage of my income each year, classically 5%.

Moreover, it will give me a given interest rate which is applied to my balance. Every year, I will get a statement which displays the theoretical value of my account and what kind of monthly salary pay-out that will accrue when I retire.The aspect of retirement is fluctuating and strategizing for a safe future for myself and my family requires a cautious plan which takes into consideration the present stress on my employer retirement strategies and the gaps in Social Security. Just like building a legacy, strategizing for my retirement is an enduring process.

In Proverbs 6 : 1-5, the bible persuades us to managing our finances so as to avoid borrowing. Moreover, according to the statistics given, the earlier I start planning for retirement, the more equipped I will be when I finally retires. There are a lot of benefits of embarking on retirement saving early.