RETIREMENT WHAT IS YOUR PLAN?
To retire from work is when you stop any active work to enjoy the fruits of your labor after working for a certain number of years or you stopped due to health challenges.
To retire early and young is a totally different thing as this requires you to have a plan and be deliberate and intentional about it.
Have you ever come across an old man or woman who is supposed to be in retirement doing menial jobs?
Do you ever wonder why an elderly person will end up without a home or without money to rent an apartment even after working for so many years some even up to 30 years?
These painful situations are the results of lack of planning, ignorant, and sometimes no fault of such people.
Imagine what you can do with your life if you can retire between 45 -50 years or even at 55years. I leave you with your imaginations.
WHY DO YOU NEED A RETIREMENT PLAN?
-You need a retirement plan because you won’t work for someone forever.
-You don’t plan to work until you become very old.
-You don’t plan to depend on your children to sustain you because they also would be facing their own issues
-You will want to be able to take care of your medical bills in retirement.
So what is your retirement plan?
Do you plan to work for someone until you can no longer work and they send you parking or you have a PLAN B?
WHAT IS YOUR RETIREMENT PLAN AND HOW TO GO ABOUT IT?
When do you plan to retire and at what age? Write down your plan
Which activities will you be engaged in retirement?
What will be your monthly income in your old age?
Where are you going to live (house) in retirement?
Plan to retire from the first day you start earning income whether through your job or your business.
Do you have a pension plan? Start one if you don’t have one.
Will your pension money sustain you in old age or will need additional income?
What percentage of your income are you saving towards your old age? If you own your business the responsibility lies with you.
When you plan your life, set your goals, and follow diligently your life will take a good course.
Whether you follow a career path or become a business tycoon, you must pay attention to your finances by saving and investing because this is what you will fall back to old age.
Protecting your hard-earned money against all kinds of risk is a must.
When you do that, your family will be secured and you will have a comfortable retirement.