Spousal Income

A survey of Adventist Pastors revealed eight different factors that may allow pastors to retire as millionaires. In this series I’ve been sharing each of these eight factors in bite size pieces. Coming in at number two in correlation strength is spousal earnings. The spousal earnings of folks whose anticipated net worth is over $1M is greater than those whose anticipated net worth is less than $1M. (see bar graph).

Survey participants were asked:

“Over our entire lifetime my spouse has earned: a) much more, b) more, c) same, d) less, and e) much less than me, or f) I have been single for most of my ministry.”

There is a correlation between spousal income and net worth. A big difference is illustrated by those whose anticipated net worth is over $1M are five times as likely to have spouses who earn “much more” than those whose net worth is anticipated to be less than one million. This is a significant but modifiable variable.

How does this information benefit pastors? Young single pastors or ministerial students who are looking for a marriage partner, need to realize that marrying someone who has the desire to obtain a professional career will increase the odds of a higher net worth than marrying someone who has no such ambition.

How does this information benefit spouses? Pastoral spouses who choose to volunteer full time to support their partner in ministry should realize that while it may be a high and noble calling, it could negatively affect retirement net worth. If willing, it is never too late for a spouse to upgrade his/her occupational chops and step into a higher paying job. For some it may mean advanced education, for others, just a certificate and a career change. As a personal testimony, this had a significant impact on our retirement net worth. After the childbearing years, my spouse went to graduate school and prepared for a new career that greatly increased her earning potential but more importantly, her job satisfaction.

It should be noted that there was not a correlation found between singlehood and net worth. Only four percent of the survey participants selected “I have been single for most of my ministry.” The average net worth of the singles was comparable to the average for all participants.

While there are much more important goals in life than obtaining a high net worth for retirement, pastors early on should realize that spousal income significantly impacts retirement net worth.

Author’s note: These articles are condensed from the full report of the study that was presented at the 2022 CALLED Pastors’ Family Convention and can be downloaded here: If you would like to dialogue with the author you can email him at davegemmell@gmail.com.

Dave Gemmell recently retired from NAD Ministerial and is enjoying spending more time with his family, especially his three grandsons.