Tithing on retirement income

[Scott R Nelson]

I know that if I ask my bishop or stake president this question they'll throw it back to me to rely on the spirit to tell me what to do. But I also recently heard mention that the spirit can't work on an empty head, so you need something in your mind to be inspired about. (This was either at General Conference a week ago or Stake Conference this past weekend.)

So I've always paid tithing based on gross income without deducting money going into Social Security or 401K or company pension plans. And of course, I haven't kept track of how much was put into any of those either.

In January I'll start collecting a small pension from two companies that I've worked for. A year after that I'll start collecting Social Security and will probably start taking regular money from my IRA annuities as well (401K was rolled over into that).

So how do I figure what is one-tenth of my interest?

Any and all suggestions would be appreciated.

[Pelado]

Go with consecration - 100% to the church. That way you don't have to worry about the math.

[Jeff Lebowski]

Convert your money to cash every month and go out in your backyard and throw it up in the air. When you do so tell the Lord to take whatever he needs and whatever falls back to the ground is yours to keep. Easy peasy!


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[HuskyFreeNorthwest]

Convert your money to cash every month and go out in your backyard and throw it up in the air. When you do so tell the Lord to take whatever he needs and whatever falls back to the ground is yours to keep. Easy peasy!

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I think I’m going to start doing this with everything in my life.

[Jeff Lebowski]

I think I’m going to start doing this with everything in my life.

My work here is done.

[wuapinmon]

You've already paid tithing on that income. Assume your retirement is like one of the church's corporations that wasn't "derived from tithing funds." You can thereafter build your own, personal, City Creek. Somewhere to sit in chairs, somewhere with stairs. Beach house, update.

[Crockett]

Bunch of wiseguys in here. I have thought about this, too, and here is what I do. I pay tithing on what I call a "modified gross." It's my gross minus my 401k contributions, which receive a company match. I plan to pay tithing on my withdrawals of my 401k at some point in the future.

[Walter Sobchak]

Convert your money to cash every month and go out in your backyard and throw it up in the air. When you do so tell the Lord to take whatever he needs and whatever falls back to the ground is yours to keep. Easy peasy!

I do this, but with gold coins. Paper money is for suckers.

[delux_247]

I'd probably try and determine what percentage of the account was principal and what percentage was interest, then pay tithing only on the interest portion when I make a withdrawal.

Situations like this is why heathens like me pay on net.

[happyone]

Bunch of wiseguys in here. I have thought about this, too, and here is what I do. I pay tithing on what I call a "modified gross." It's my gross minus my 401k contributions, which receive a company match. I plan to pay tithing on my withdrawals of my 401k at some point in the future.

This is what I do

[Green Monstah]

I have a unique method for paying tithing, but in short, I don't plan on paying tithing once I retire unless somehow my income is greater than my expenses, which seems unlikely--for most of my retirement years, anyhow.

[Uncle Ted]

I do this, but with gold coins. Paper money is for suckers.

I do this, but with bitcoin. This keeps the IRS out of the take.

[Bo Diddley]

I have a unique method for paying tithing, but in short, I don't plan on paying tithing once I retire unless somehow my income is greater than my expenses, which seems unlikely--for most of my retirement years, anyhow.

You must be going with the Roth Tithing Plan.

[Sullyute]

You must be going with the Roth Tithing Plan.

Ha! I got to talk to my bishop about switching to this plan.

[Uncle Ted]

Ha! I got to talk to my bishop about switching to this plan.

Yeah, it might be beneficial to switch to a Roth tithing plan if you think the tithing rate for you will go up.