You need retirement plan
With the downturn in the economy and the fact that social security does not exist in Nigeria, individuals must be craftier than ever in planning for retirement so that they can be sure to have enough to live on once they retire. Even if individuals have been putting money away into a retirement plan that their company offered, this is not a guarantee that there will be enough for them to live off for the rest of their lives once they hit retirement age.
Decide when you want to retire
Decide to retire and make a decision to do so. First and foremost, you must have the desire to retire. You don’t just retire because someone else has retired or tells you that it is a good thing and come out there because they are retired. Instead, you must have the burning desire to retire and want to make your vision a reality. This is because retirement is an individual decision and if you follow your own mind, you will know when your time has come.
Visualise yourself as a happy retiree
Endeavour to take some quiet time and truly visualise yourself as a retired person. Figure out whether you would be happier being busy and active or relaxed and living the simple pleasures of life or a combination of the two. Then, figure out if you’ll try new and challenging things. In essence, you must figure out what truly makes you happy and what will bring you joy and personal satisfaction.
Understand transition into retirement
Get ready for transition into retirement. For instance, if you are the type of person that visualises retirement as a time to relax but you are currently a workaholic then you should transition into a more relaxing life. You can do this by slowly downshifting your extended work hours and begin pursue more leisurely activities until you are comfortable resting more and working less.
Take steps to make your vision a reality
In view of the fact that nothing good is achieved in life without concerted efforts, be willing to put forth the effort to make your vision a reality. For instance, let’s say that your vision is to become a gourmet cook but you don’t necessarily have the skills. Well, you can obtain them. You can go to cooking school, watch cooking shows, and really hone in and enhance your skills. You can learn how to prepare gourmet meals if you really want to do so.
Note that you do not have to be an expert in early retirement planning to come up with a good plan for your future. As long as you know what you want in life and you are willing to work on meeting your goals in life, them you can already create a good retirement plan.
Just be confident in knowing that your retirement can be successful if you make it so.
Source : Independent