No discipline seems pleasant at the time, but painful. Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it. Hebrews 12:11
“Hunger, cold, rags, hard work, contempt, suspicion, and unjust reproach are disagreeable; and debt is infinitely worse than them all. And, if it had pleased God to spare either or all of my sons to be the support and solace of my declining years, the lesson which I should have earnestly sought to impress upon them is, “Never run into debt; avoid pecuniary obligation as you would pestilence or famine. If you have but fifty cents and can get no more for a week, buy a peck of corn, parch it, and live on it, rather than owe any man a dollar.”
Horace Greeley (1811-1872) in Day’s Collacon, compiled and arranged by Edward Parsons Day (New York: IPPO, 1884) 166.
Greeley offers keen counsel in three areas. (1) He paints an appropriate picture of the infinitely disagreeable nature of debt. (2) He shares sound instruction regarding how to avoid in during hard times: live as simply as possible, even get creative with a peck of corn, to stay within your means. (3) He speaks of impressing truth upon his sons so that they may be “support and solace” to him in his declining years.
Let’s drill down on that last point.
When we live within our means, store up treasures in heaven, and impress this on our sons and daughters, we have something better than a retirement fund. We have discipled the next generation to provide us with the same aid they saw us give to others when we are older.
To me, the most toxic aspect of worldly financial advice is that those who store up riches for themselves, in so doing, teach their children to be selfish. So, as the parents age, they often die alone with their financial wealth only to have the children fight over it after they are gone.
Prepare for your declining years by living generously and teaching your sons and daughters to avoid debt and to give generously. Lead by example because your countercultural, biblical behavior will bring you the “support and solace” you dream of having later in life.