Retirement is a time to relieve oneself of all the hardwork over the years, it is a time to relax and enjoy the benefits of what you have achieved and labored for. In others, you have to be wise and plan for the future ahead of time.
The joy of every human or let me specifically say myself is to live a fulfilled life void of regret at the latter time. As youths of this generation we have the opportunity to learn, unlearn and relearn so as not to make the mistakes our parents, guardians or mentors made. I would not want a future where I would look back and not be able to account for a life well spent. If you don't get to do well, don't be surprised when your child asks you, mummy what were you doing when your mates were hustling hard.
There is no age too small to start making plans of how you would want to retire. These days, I hear most people say they would want to retire at 40 years old, other at 50 and some at 60 years. If you are a government worker in Nigeria, retirement is scheduled at 6years with 35year of service. But with the current situation of government policy it not wise to depend on the them. People that have retired as far back as 2008 are yet to receive their gratuity, even when you retire, you don't start getting your pension fund immediately.
I have seen elderly people especially civil servants who did not use the opportunity well and are regretting it after retiring from service. For instance, they have the opportunity to collect loans and pay back installmentally either monthly or yearly. He saw this as a burden and this affected him badly that even after retiring he cannot boast of owning a house, a car or something to fall back to to make money for upkeep. Because you definitely cannot rely on the paltry pension fund.
Lessons have been learnt and I have deviced means to save up for the future by engaging in investment that would yield profit. This is why I love my job, a company where we have a pension account where a Delegated part of our salaries goes to. So far so good, it has accumulated a good amount but not enough.
Another way I would want to retire is to acquire loans while I still have a job. The idea is but a land, building a storey building of about 8 flats and afterwards rent it out. We are all aware that land is never depreciating but it's ever appreciating. I could even furnish a room to taste and rent it out as airbnb, in Lagos people pay as much as 500k for airbnb for a week. Thus, investing in real estate would serve as a source of income as rent would be paid annually.
When I have good money, I would investigate and buy good stocks, bonds, mutual funds or share from reputable companies. Recently, I saw a video on the internet where the children were thanking and praising their late parents for buying shares because it had amounted to a big money. Atleast they left something tangible for their offspring.
As a fashion designer and a woman, I would like have a proper fashion store with workers in it. It's retirement, a time to relax from strenous work and employ hardworking people to do the jobs while I supervise. At least it's better than sitting at home all day and incurring unnecessary health issues. Hence, I would rent a shop, furnish it modern taste, make or sew clothes, sell them and make money for upkeep.
Finally, if hive blockchain is still available to accept a 50 year old content creator, then I would add blogging to the list. It would be fun to document activities on here. Just like it is said, reading and writing has a way of making an adult mentally stable, improves memory and reduce stress. So cheers to the future with hive and INLEO.
I am glad my retirement plans are achievable, one can start now bacquiring lands, saving monies for a long period of time and so on. The plan can even start happening at 40 years ,the deal is to not regret at the end.
This is my entry for the contest #hivenaija weekly prompt, check here for more details.
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