Multiple Income Opprtunities

You are addressed according to the way you dress...

gotclicks2.com

WHO NEEDS A RETIREMENT PLAN?
By Pat Ashibuogwu
Business Consultant & CEO Aspazgold Business Support Services.

Retirement as an inevitable and very important event in life is worth looking up to with great expectations. Regrettably, just like death, this stunning reality is never ever given due attention by prospective retirees and the society in general. In present day Nigeria, workers are statutorily forced to retire after thirty five (35) years of service or by attaining the age sixty (60) (whichever comes first). This makes retirement appear to be restricted to only employees in regular jobs, whether public or private. But broadly speaking, retirement goes beyond that, it also includes self-employed and owners of any form of business outfit. In fact, everybody must look forward to retirement (whether a business owner or employee), therefore the need to plan for retirement is a general obligation.
Let’s look at it this way, apart from statutory regulations, retirement may be induced by unforeseen circumstances like accident or ill-health or by loss of employment, etc. In any of these cases, one may not enjoy the privilege of having to plan for the sudden exit from service. Above all, it must be noted that stamina diminishes as one grows older, implying that at later age one may no longer possess the capacity to perform as he used to during his prime age. All the same, whether statutory, voluntary, induced or forced, the need for every mature and active man or woman to plan for retirement cannot be overemphasised.
When thinking of retirement two questions that must be appropriately considered comes to mind:
1. When is the right time to start planning for retirement?
2. How do you plan for your retirement?
Before you answer any of the questions, I want to emphasise here that it is never too early to start planning for your retirement. In fact the best time to start is now. By the way, do you know that the capacity to determine when and how you want to retire resides in you and you alone? This is because it is your dream we are talking about here. The determining factor should be the picture of your golden years as you see it in your dream. Therefore, it is your duty to choose when and how to retire based on the scope of the envisaged lifestyle, and map out strategies on how to deploy your resources to actualise the dream. If you start early, chances are that you may have enough time and resources at your disposal to realise the retirement that you dream of having faster than expected.
The purpose of this piece is to create awareness and arouse consciousness about having a retirement plan. Retirement plan is an event in life that one may start at any age; the important thing is to have a target. The earlier you get there, the better for you. Gone are the days when workers rely on statutory employee pension scheme alone. We know of workers who retired and for many years have not been able to access their benefits; this calls for a back-up pension plan. Consult widely before you make your choice.
It is my belief that, going forward, you would understand that retirement plan is not only for the old or employees; but for all active men and women.
Coming next, we shall be talking about various types of pension plans.

Your future is in your hands...

Online Biz Info