Are you going to get rich as a missionary?

Continuing yesterday's theme with answering some frequently asked questions...

Question #2:  $10,000+ per month?  That's more than anyone I know makes in a month!  Why do you need to raise so much per month?  Is that all salary?

Answer #2:  No, it is not all salary and no, we are not going to get rich as a missionary.  In fact, as Scott and I both step down from professional type jobs we will take a major pay cut, but we can't wait.  So, if it isn't all salary, what is it?

Here is a brief outline of where the money will go..

• Salary - we will receive a monthly salary that is to cover our living expenses - clothing, utilities, food, furnishings & house operations, taxes, telephone, non-business transportation, health & personal care needs, reading & recreation, financial planning & savings, tithe/offering/giving ... pretty much everything your take home salary presently covers except housing and some school expenses
• Housing - we will receiving a monthly housing allowance and the amount is based on the number of children that will be living in our house
• Retirement - we will need to continue to plan for retirement and they figure what minimum percentage of our income we need to put aside based on our age (and the fact that there is no one adding to this account except us).  SEND is very conscious of the fact that a day will come when we are ready to retire and will need to have planned for a way to come home.
• Insurance - medical insurance is very expensive and remember there is no employer helping with the cost as an employment benefit.  More than 10% of our monthly support is to cover insurance.
• Schooling - we now have to send our children to private school as they are teenagers and do not speak Spanish.  There is an allotment to help with these costs.  Also, we will have one child still here in the states in college and another one less than two years from returning to the states for college.
• Travel - we are expected to put aside some money each month to prepare for the need to fly home at some point.  Also, we will get a travel allowance to allow for ministry needed travel.
• Ministry - all the supplies needed to do ministry comes out of this monthly support and both Scott and I will be actively involved in ministry.  Everything from a new bible for someone, a bible study, crayons, and more comes out of this support.
• Administrative Support - we are blessed and grateful to be serving as missionaries with a solid mission organization and not just being send "to the wolves" on our own.  They provide substantial administrative support and training to us.  A percentage of our monthly needs is to enable this support to continue.

And after they projected those costs a financial wizard looked at projected cost of living changes and exchange rate trends and came up with a figure that represents needed income both today and in five years.  The $10,378 figure is the projected mid point need.  That allows for the fact that for the first 2 1/2 years our account will have a little more money in it than is needed to be distributed and for the last 2 1/2 years our account will have a little less money coming in than needed to be distributed.  This figure should keep us from having to panic half way through our first term because of economy changes.  (that does not mean that like you, we won't have to tighten our buckles with economy changes, but it should keep us from starving during the 2nd half of our first term)

So, back to the original question.... are we going to get rich as missionaries?  Absolutely not, but we will be provided for and able to live a comparable life as those we are ministering to.  We will be able to be comfortable and know that the bill collector is not around the corner waiting to pounce. 

Once again, thank you for your continued support and encouragement.  This is continuing to be one wild ride!