For more than four decades, Paul Snyder has been a trusted source of comfort and confidence for people navigating their journey of retirement. The LCMS has always been a part of Paul’s journey — he was born into a family of church workers with his father graduating from the seminary when Paul was three months old. He is a graduate of Concordia University Chicago (River Forest) and has served Concordia Plans for the last 43 years, mostly as a Financial Educator. Paul has developed many great relationships, and he noted how many of those friends later came back asking for help with their retirement. Now, as he steps into retirement himself, he shares some of the valuable lessons he’s learned along the way.

What is the first step someone should take when planning to retire?

You first should ask yourself why you want to retire, and what are you retiring to do?

Paul emphasized the importance of having a plan for your future — and knowing how much income you’ll need for this plan to work comfortably.

What is the most valuable financial tip that you learned during your career?

That takes me back to a job I held when I was very young and without many responsibilities. Someone at that job told me to start saving early and explained how money can grow. From there I began learning more about how your money can work for you when you’re saving consistently over time. Many people think they can’t afford to save or invest in their future, but you can’t afford not to save or invest.

On the other hand, a common mistake I’ve seen people make — not understanding healthcare. Many people go into retirement thinking they have enough set aside for healthcare, until they meet up with someone like me. People often underestimate how much they will need to cover healthcare expenses. I really appreciate the webinars that Concordia Plans offers as an extra resource for people to use when they may not be able to meet with a Financial Educator.

What is the most rewarding part of your career?

I feel joy when different people approach me and tell me how they have seen my videos. They were always so grateful for the help, sharing how beneficial it was for them.

What stands out in your career?

There was someone I knew who had never attended any financial or retirement planning workshops or webinars. I had spoken with this man, who said he had no plans of ever retiring because he didn’t think it would be possible to prepare for retirement while trying to take care of his family. I eventually convinced him to attend a workshop and discussed his situation. Years later, I saw him again, and things had completely turned around. This man now had a plan for his retirement, and everyone would be taken care of. When I saw the man that time, he looked happier than ever.

This is just one example of the many relationships Paul talked about during our conversation. He said that building these connections is what he will miss the most.

Paul, please share one last tip.

Don’t wait any longer — start saving today.