Retirees WILL reshape the future of your church. An article in the June 21st 2018 edition of The Wall Street Journal caused me to think of that opening. The article was entitled, “More Retirees, Fewer Workers Strain U.S.” The opening words of the article is fitting. It says, “The surge of retiring baby boomers is reshaping the U.S.”
The upshot of the article was the ratio of retiree-aged adults to those of working age is continuing to edge upward. What this means is that there are fewer workers paying Social Security tax to help fund the retirement plans of retirees. This will add to the already stressed program that is gearing up to accommodate the Baby Boomer generation.
Here is another quote from the article that is telling.
“You have this top-heavy age distribution that is basically uncharted waters,” said Paul Taylor, author of “The Next America” who has studied the aging population. “The failure to face what’s right in front of our eyes, is a form of generational theft,” he said, referring to the financial consequences for subsequent generations.
We have a five to ten year window of opportunity ahead. The impact of all of the above will trickle down to every church in America including yours. After this, baring a great resurgence in religion, giving will sharply decline as those retiring have less to give from. The unintended consequence of Baby Boomers, the Churches largest donor group, retiring will mean a significant drop in giving.
So, what should we do? Let me list some of the recommendations from the recent Blackbuard report, “The Next Generation of American Giving.” I have written about this in previous posts.
Recommendations from “Next Generation of American Giving”…
- Focus on the generations that matter today. Right now that is GenX and Baby Boomers. We should not forget other generational groups. However Baby Boomers for at least the next five years will remain a churches largest donor group. During this same time span the GenX generation is moving into their peek earning years.
- Redouble your focus on the fundamentals. For us that needs to be making generosity a part of our discipleship teaching.
- Get serious about retention. Don’t lose what you already have!
- Get your house in order. They state, “Ignoring internal issues is not a luxury any organization can afford.”
- Stay agile. This is hard for the church but so needed!
- Commit to testing. They state, “Don’t assume past tactics will continue to work.”
- Listen to your donors. To that I say, Amen!
The first step towards solving a problem is to recognize that you have a problem. It is past time that leaders in the church wake up to what is happening around us to prepare for the future.
The church that survives the future is the church that plans TODAY for tomorrow!
Mark Brooks – The Stewardship Coach