The Florida United Methodist Foundation hosted its annual “R-10 and Counting” clergy retirement seminar from September 9-11, 2024, at First United Methodist Church in Lakeland, FL. This two-and-a-half-day comprehensive event was designed to equip clergy and their spouses, who are within ten years of retirement, with the knowledge and tools necessary to navigate a smooth and successful transition into their retirement years.
The seminar covered a wide range of essential topics, ensuring attendees received holistic guidance on all aspects of retirement planning. Clergy learned about unique tax considerations specific to their profession, helping them better manage their finances in retirement. Estate planning was a critical focus, providing participants with essential legal and financial strategies to manage their estates and ensure protection for the future.
Rev. Scott Smith, Senior Pastor of First UMC Ormond Beach, shared his positive experience: “I am so glad I came to R-10, about 10 years out! It really helped my wife and I put a plan together. I plan on coming back a year or two before I retire. Great event. I think it should be required for all clergy. It was great to have a one-on-one meeting with Wespath folks. So helpful to learn navigating the system and all the extra benefits they offer. I really appreciated the ‘how to’ or ‘you need to consider this’ parts of not just my retirement plan but estate planning, Social Security, and getting ready to retire.”
Financial planning experts shared actionable steps for establishing and maintaining financial stability, offering peace of mind as attendees look toward their retirement years. Navigating health insurance and Medicare was another major focus, as presenters explained healthcare coverage options, Medicare enrollment, plan choices, and costs to ensure participants feel confident in managing their healthcare needs.
Housing considerations were also addressed, with guidance on preparing for future housing needs and potential challenges, while discussions on long-term care insurance gave attendees insights into the benefits and coverage they may need to make informed decisions about their long-term future.
Rev. Beth Gardner, Senior Pastor at College Heights UMC in Lakeland, added: “R-10 helps with the ‘deer in the headlights’ feeling when you anticipate retirement and navigating Social Security, our pension & benefits, housing in retirement, etc. R-10 is great! Attend more than once!”
The seminar also offered a deep dive into clergy pension plans and benefits, providing valuable information to help retirees maximize their retirement income. Experts emphasized the importance of physical health and activity, sharing strategies to help retirees remain active and healthy in their post-work lives. Additionally, Social Security was discussed, with practical advice on how to maximize benefits and understand eligibility, which plays a vital role in financial planning for retirement.
Rev. Dr. Vance C. Rains., Senior Pastor of First UMC Orlando, echoed similar sentiments: “Though my retirement is likely 8-10 years away, there are so many details to consider, many of which are complex, such as navigating investments, pension, Social Security, Medicare, housing exclusions, taxes, etc. R-10 was a great opportunity to figure out what questions we ought to be asking, what options we need to be considering, and to what degree we are prepared and/or still have work to do! Though we left with a long ‘to do’ list, we’re thankful to know we’re on the right track!” Overall, the seminar provided an all-encompassing approach to retirement, addressing both financial and personal wellness. Attendees left feeling more confident about their future, armed with invaluable information and resources. The sense of community fostered during the event further strengthened the connection between participants as they prepare for this next chapter in their lives. The Foundation remains committed to supporting clergy through these transitions, continuing its mission of helping clergy retire with confidence and clarity.