Clergy, Retirement & A Lack of Financial Literacy - An Unorthodox View

In Napoleon Hill's classic, Think and Grow Rich oneThe Associated Press article by Dave Carpenter
will find a detailed account of the power ofbegan by stating that clergy seemed an unlikely
thought, how the mind actually works, thegroup to be "facing a retirement security crisis."
immutable laws of the universe, and the keyYet the article goes on to explain that clergy are
elements necessary for profound personalnot only in a generally low-paying profession, often
development and success. Not readily drawn towith a modest pension and frequently lacking
the idea of accumulating riches in my youngerhome equity, but there is something even more
years, I was only vaguely aware of the existencefundamental at issue. According to the Rev. Dr.
of this book. It was not until I left the world ofBert White, a retired Methodist minister and a
employee and ventured into the realm of businesslecturer at Boston University, there is a lack of
owner and my new education began in earnest,financial literacy. White observes, "Clergy are so
that I become keenly aware of Hill's seminal work.focused on the hereafter, but we should know
That awareness quickly developed into an intimatemore about planning for life after work."
relationship with the essential tenants of the book,The article goes on to recount several stories, not
and daily practice of its principles.unlike my own in some respects, that highlight the
As a Presbyterian clergywoman, ordained in 1987,issue of a life of service with little thought to
I have spent most of my career in non-profitserious retirement planning. I remember when I
leadership, the interfaith movement andtold my Dad that I was leaving my management
philanthropy. It was only after losing nearly all ofposition to go to seminary. While supportive, his
my retirement in the stock market that I made afirst question was, "Will you be able to make a
significant mid-course correction, and became anliving doing that?" I chuckled and told him that the
entrepreneur. Now, I am having the adventure ofpay probably wouldn't be great, but that the
my life. I have for many years been committedbenefits would be "out of this world." Today I
to life-long learning. Still, I never imagined thedon't think that is quite as clever as I did back
exhilaration I would feel as a student of Hill'sthen; and I am much more likely to observe that
philosophy. It is as energizing as my years inwhile truly one "does not live by bread alone," one
Seminary.doesn't live too long without it, either.
Mid-way through Think and Grow Rich, whileAs a now successful entrepreneur engaged in
examining some of the professions whereInternet marketing, I feel absolutely called to this
emerging leaders might find fertile opportunitiesenterprise, and find helping others attain financial
for a "new brand of leadership," (such as politics,security immensely rewarding. It is a great joy
finance, industry, law, medicine, education andfor me to provide personal coaching, and to be
journalism) Hill makes this remarkable statementable to point the way to all the tools and training
of one other field:which are available for those who want to
Religious leaders of the future will be forced tobecome successful in this industry.
give more attention to the temporal needs ofI doubt that I would have embraced Hill's book
their followers in the solution of their economicduring my years at seminary. And frankly I can't
and personal problems of the present, and lessimagine it being part of any reading list I had at
attention to the dead past and the yet unbornthe time. But the lack of financial literacy among
future.my clergy colleagues is stunning, especially given
I found this remarkable the first time I read thethe needs of parishioners and congregants who
book. During my second or third reading of thisregularly seek counsel from their spiritual leader on
life-transforming volume, I noticed an article onall matters of life - including jobs and career,
entitled, "Many clergy ill-prepared for retirement."retirement and financial hardship.