A third of pastors and missionaries have less than $100K saved for retirement
More than one-third of retirement-age pastors and missionaries have less than $100,000 in their retirement savings as nearly one-half of them are concerned about their family’s financial future, according to new data published by LifeWay Research.
The Nashville-based Southern Baptist polling organization released a new survey Wednesday sponsored by Shepherd’s Fold Ministries.
A total of 2,451 pastors, ministers and missionaries affiliated with 11 different Protestant denominations or networks who are retired or at least 67 years of age were questioned about their health, financial security and relationships. The survey used quotas and slight weights to balance denominational affiliation based on the number of eligible retirees.
Of the respondents surveyed, 80 percent reported being retired and 52 percent said they spent 40 years or more in ministry....
