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Tithing on retirement savings
Posted: Thu Jan 17, 2008 1:05 am
by _SatanWasSetUp
So what is the rule if you are retired and living off of your retirement savings? My dad is retired and living off of his 401k and other savings. He does not work. He takes out a lump sum each month to live off of, and then pays 10% on the amount he takes out. His theory is he is paying himself that month. That doesn't seem right to me because he already paid tithing on that back when he earned a paycheck and put a portion into his retirement savings. I believe he should pay tithing on the interest earned that month (actually I don't think he should pay tithing at all:), so if his retirement portfolio earned $1000 interest, he pays $100. If it takes a dive, he owes no tithing. Anyway, for all you bishops out there, how do you counsel retirees on tithing?
Re: Tithing on retirement savings
Posted: Thu Jan 17, 2008 1:20 am
by _JAK
SatanWasSetUp wrote:So what is the rule if you are retired and living off of your retirement savings? My dad is retired and living off of his 401k and other savings. He does not work. He takes out a lump sum each month to live off of, and then pays 10% on the amount he takes out. His theory is he is paying himself that month. That doesn't seem right to me because he already paid tithing on that back when he earned a paycheck and put a portion into his retirement savings. I believe he should pay tithing on the interest earned that month (actually I don't think he should pay tithing at all:), so if his retirement portfolio earned $1000 interest, he pays $100. If it takes a dive, he owes no tithing. Anyway, for all you bishops out there, how do you counsel retirees on tithing?
You have my sympathies that your father is so brainwashed by religious dogma that he
pays any religious organization anything.
Since he is retired, I presume he feels good about what he is doing.
Happy is good…..generally.
JAK
Posted: Thu Jan 17, 2008 1:29 am
by _charity
We pay tithing on our retirement income because it has grown since it was invested.
Posted: Thu Jan 17, 2008 2:05 am
by _Who Knows
I used to pay tithing on my 'net', with the understanding that I'd pay tithing on my retirement 'withdrawals'. (to avoid 'double tithing').
Posted: Thu Jan 17, 2008 2:44 am
by _The Nehor
There is no rule. The only counsel we have is "a tenth of your increase".
The gross and net blessings thing is an Faith-Promoting Rumor.