Ep. 595: Retirement and Charity, ACNA News, Billionaires Galore
Christina
Hello, everyone, I’m Christina Darnell, the managing editor of MinistryWatch. Welcome to the MinistryWatch podcast.
In today’s extra episode, I talk with Warren Smith about some news items that are slightly (even significantly) outside of our normal charity and philanthropy “beat.”
So, Warren, what’s up first?
Warren
Fidelity Charitable has released an interesting study. Among the findings: “Most pre-retiree and retiree givers (ages 50-80) are committed to giving and avidly supporting their favorite causes. Of the donors surveyed, over half of pre-retirees (56%) and retirees (59%) gave $1,000 or more—and 17% of all donors gave $5,000 or more—to IRS-qualified charities in 2023.”
Christina
Fidelity Charitable may think that level of support is “avid,” but it sounds pretty anemic to me.
Warren
It is. Retirees and so-called “pre-retirees” both give far less than the biblical tithe, or 10 percent of their income, taken in the aggregate. That said, working people in their 50s and 60s are often in their peak earning years, and often have their home paid for and their kids through school, so there is some evidence that they are giving more, just not a lot more relative to their income.
Christina
Any other interesting findings in this study?
Warren
The Fidelity study found that “more than three-quarters of these pre-retirees and retirees (78%) say that charitable giving plays a significant or pretty important role in their lives” and “almost one-quarter of pre-retirees and retirees (24%) say charitable giving is much more important than other financial priorities.”
Christina
Retirees are also spending more time as volunteers.
Warren
“In the last year, over two-thirds of pre-retirees (71%) and over half of retirees (55%) volunteered,” the report said. “Nearly 9 in 10 retired respondents who currently volunteer agree that volunteering is a way to remain active (88%) and connected (91%).”
Christina
Let’s shift gears. The Anglican Church in North America has been in the news lately because of its chaplain corps. There was an ugly split a few months ago. But today, some good news.
Warren
Rear Admiral Carey H. Cash, an ACNA (Anglican Church in North America) chaplain, is the new Chief of Chaplains for the United States Navy Chaplain Corps. Rear Admiral Cash will provide spiritual leadership and pastoral oversight for Navy, Marine Corps, and Coast Guard personnel and their families, strengthening spiritual readiness, moral resilience, and compassionate care in the midst of the unique challenges and demands of military service.
Christina
Warren, I already know that you are sucker for data and lists. Forbes magazine has a new list out, its annual list of billionaires. What can that list say, and what does it mean?
Warren
The new annual list from Forbes says there are now 3,428 billionaires on Earth. In 1987, the year Forbes started keeping track, the list had 140 names. The list included more than 400 new entries to the list.
The growth of rich and super-rich motivated Washington Governor Bob Ferguson to sign into law the state’s first income tax of any kind — a 9.9% “millionaires’ tax” on income over $1 million.
Christina
And even some Christian groups are chiming in the subject.
Warren
The Christian online journal Mere Orthodoxy has an interesting analysis of the list. Its conclusion: the current wealth inequality is unjust.
Christina
But you disagree with most of the conclusions of this article.
Warren
I do. Most of the billionaires are rich because of their ownership in companies that create tens of millions of jobs. And there is that most important and overlooked fact of all in this conversation, and that is that we all die, and none of us take it with us. Most if not all the billionaires on the Forbes list got there because they built companies and stewarded them over time. Their personal wealth is usually incidental to the wealth they have created for others.
Now, don’t get me wrong. I think – as the Bible teaches – that those with wealth have much greater responsibilities. To whom much is given, much is expected. And the Bible has special condemnation for those of us who have wealth and yet ignore the poor, or structural injustices. But to make a blanket statement about the inherent injustice of wealth are painting with too broad a brush, and are ignoring many wealthy yet honorable people of the Bible.
But, in a spirit of equanimity, here is the article. You can decide for yourself if its arguments hold water.
Christina
I also know you cover the world of journalism. And there have been some changes in the conservative journalism space.
Warren
The Daily Wire, after having its day in the sun, appears to be on the decline. The online magazine Puck recently reported a “sudden, precipitous decline of Ben Shapiro’s Daily Wire,” with “sweeping layoffs and a steep drop-off in audience.”
Christina
On the other hand, the more even-handed Dispatch seems to be thriving.
Warren
I was particularly pleased to hear that The Dispatch had promoted my friend Michael Reneau to Executive Editor. According to a statement from The Dispatch, “Michael got his start in local journalism in East Tennessee, rising through the ranks to serve as editor of The Greeneville Sun before moving to national journalism, and eventually serving as editor of WORLD Magazine.”
Christina
You wrapped up your Signs and Wonders column this week with a few statistics from THINQ.
Warren
I was stopped in my tracks by some recent factoids from my friends at THINQ, the Nashville-based ministry led by Gabe Lyons. Among their gleanings: 23.7% of all Christian clergy in the U.S. are women, up from 2.3% in 1960. (Axios). And almost a quarter of American women aged 60 and over (24.3%) are on antidepressants. (CDC) You can sign up for THINQ’s email bulletins here.
Christina
You’re recording today from Dallas. That’s the latest stop in what seems to be a lot of travel this spring.
Warren
I have had a lot of travel, but I’m not suffering. It has been tiring, but a lot of fun. It was a delight to meet with about 25 MinistryWatch supporters in Dallas this week. It is always fun to tell our story, but to tell it to such an enthusiastic and knowledgeable audience is even more fun.
We will be doing similar events in upcoming weeks in Knoxville, Denver, and Colorado Springs. Let me know if you would like to join us. My email is [email protected].
Christina
That brings to a close this EXTRA episode of the podcast. The producer for today’s program is Jeff McIntosh.
I’m Christina Darnell, along with Warren Smith. Until next time, may God bless you.
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