"Do I tithe on my Social Security?" It is one of the most common questions we hear from retirees who have given faithfully for decades.
Scripture does not hand us a worksheet for this. So instead of a ruling, here are questions to pray through and talk over with your spouse and your pastor. This is general education, not tax advice or a statement of church doctrine.
"Honor the LORD with your wealth and with the firstfruits of all your produce" (Proverbs 3:9, ESV). The heart of the tithe is first, not leftover.
The New Testament adds proportion and joy. Paul told the Corinthians to give "as he may prosper" (1 Corinthians 16:2, ESV), and "God loves a cheerful giver" (2 Corinthians 9:7, ESV). And Jesus honored the widow who gave two mites, "all she had to live on" (Mark 12:44, ESV). He measured her gift by her heart, not its size.
Faithful Christians land in different places here.
Some give on gross income as a first fruits practice. Others give on what actually arrives, after taxes and premiums. With Social Security, a further question comes up: you paid payroll taxes during your working years, and many people gave on their gross wages back then. Some reason they already tithed on that money. Others see each monthly payment as new provision from God and give on it gladly.
Both views can be held with a clear conscience. "Each one should be fully convinced in his own mind" (Romans 14:5, ESV).
A pension is often viewed like Social Security: income from years of work, now arriving monthly.
Traditional IRA and 401(k) money is a little different. Contributions usually went in before tax, so many people never gave on that income when they earned it. Some givers treat withdrawals, including required minimum distributions, as increase they have not yet tithed on.
Retirement can feel like the faucet has narrowed. Paul wrote, "if the readiness is there, it is acceptable according to what a person has, not according to what he does not have" (2 Corinthians 8:12, ESV). God is not asking for what you do not have.
Questions to pray through together:
If you would like to see how generosity fits into your retirement paycheck, take the free Retirement Paycheck Readiness Scorecard at scorecard.matt25capital.com, or call our office at 620-670-9455.
I'm Will Snodgrass, CFP®, with Matt25 Capital, serving Christian pre-retirees and retirees from our office in The Woodlands, Texas, and by video with clients nationwide. Advisory services are available only where Will is properly registered or exempt from registration.
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Schedule a ConsultationThe opinions voiced in this material are for general information and educational purposes only and are not intended to provide specific advice or recommendations for any individual. Nothing in this blog constitutes investment, legal, or tax advice. Please consult with a qualified professional before making any financial decisions. Past performance is not indicative of future results. All investing involves risk, including the potential loss of principal. Any hypothetical examples used are for illustrative purposes only and do not represent actual client results. Confirm current IRS, Social Security Administration, and plan rules for your situation. Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services are separate from and not offered through Commonwealth Financial Network®. Certified Financial Planner Board of Standards Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements. Matt25 Capital is a separate entity from Commonwealth Financial Network®.
This material does not constitute tax advice and is not a statement of church doctrine. Giving decisions are personal; please seek counsel from your pastor and a qualified tax professional. Qualified charitable distributions must meet IRS requirements, including being paid directly from the IRA to an eligible charity.