I was was going through and article on preparing for retirement while I was preparing to a paper on “Early preparation for retirement” and the message I got and call me up to share with you was touching and at the end of my paper many felt they have lived a wasted youthful life were they lived in avoidance but could not do anything so set them prepared for the years of draught and famine, I drew out the following few lesson to share with you:
1. As you always go to work….remember one day you will retire. You won’t be going to work.
2. Always go for your 30days annual leave. Whatever you do in your leave, is what you will be doing when you retire.
3. Invest for your retirement. For your children are not retirement investment rather you’re saving for them in their intellectual an inheritance which will not be shared with with them Even if you’re no more. Oh! I will never forget my mentor at school who encouraged me to tale my education serious as this is the only inheritance that my father will give me while he lives and no one will share it with me when he is no more. To day am glade that when he died all other properties of my late father were shared among us children and relatives customarily but no one ask me for my certificate, so is your children’s education don’t ever think that’s an investment for this is just your gift to them.
4. Start a hobby early in your working days to take you along when you retire. You can start a church, rearing chicken, zero grazing or a shop.
5. Where shall you retire. Build yourself a home and not a liability! Yes I call some houses and cars you acquire during your active service luxury as liability because the will only demand much from you always. But Don’t retire and start to rented house.
7. Who shall be your dependants. By the time you retire, your children should be above 18, and self reliant. Don’t make a mistake of marrying a second wife.
8. Don’t retire in town. You can’t continue living in town after 60. The language and the hustle is hard for you if you don’t have multiple stream of income. Built an assets in town before ANY OF THE 3R But Don’t built up a Liability to claim you’re living in the best place and beat house. Build a Guest House or an estate if you have the capital.
9. Have property which can be converted into cash. Plant a vacado trees today. Rear goats, tree’s and Do more investment to have a cash flow stream rather than Liabilities.
10. Live a simple life. If you never build a house at your rural home, don’t wait to use your retirement package to build.
The analysis above is that many of retirees die because:
1. Not prepared to retire.
2. Lack finances
Let’s take the lesson from the Rich Dad series by Robert T. Kiyosaki. on the Cash flow Quadrant, manage your Quadrant 1 (E= Employment) to strive for Quadrant 4 (I= Investment). This is the only way your can get prepared for the 3R ( RRR) that may likely come your way at any moment during your Active service years. Do not seed 35 years in service as a guarantee. You are likely to be :
So, which ever comes first, the question is how are you prepared for the 3R.
Are you already actively in a group of any of the 3R?
Are you preparing to become One?
Do you want to resign before your boss retrench you?
Are you bribed monthly for your potential?
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