Have you ever considered yourself say about thirty five years from now? Old, tired and broke? Have you thought of what would happen to your teeming number of dependents especially kids in school,extended family or real estate that requires regular maintenance?
I've been looking at the Nigerian situation closely and i don't think i like the available retirement plans at our disposal. I like to consider the future whenever i take decisions that affect me and I haven't been quite happy lately considering the situation.
Retirement does not necessarily mean total abstain from work,it could also mean working out of free will, working whenever and however you like. Retirement without work could be very boring and frustrating. The best way to plan for retirement is to start planning early in life and get yourself addicted on how to save money and educate yourself financially. Investing in bonds, mutual funds, stocks, are good options.
Retirement is a phase all career individuals go through. Whether we like it or not, a stage will come when our services in job environments will no longer be needed either willingly or compulsory. Nonetheless, it is important that retiring individuals have a well laid plan that solidly guarantee a steady stream of income to fall back on when salary alerts ceases.
The mistake many Nigerians make is to wait on their gratuity and pension to start up an enterprising venture. In truth, it is advisable to have started this business few years before retirement as this provides a more relaxed retirement phase.
Asides the fact that the individual who have understood the intricacies of the investment before retirement, there is usually fund to absorb shocks and rectify mistakes when the business is started during the working years.
Retirement is supposed to be what it says. A time to retire from active work life. A time to rest from all the hassles one has gone through, trying to make a living. A time to go to some places, spend a little time here and there, purging your systems from all the toxins you have accumulated from stressful lifestyles over the years. It is also a time to be with your family, having always been on the road all those years. But over here, this is not the situation. It is another life full of uncertainties, fears and worries. Another set of working life, setting up businesses, pursuing contracts, taking risky loans and ending up hypertensive if the businesses fail. My brother, it is good you already have a Retirement Savings A/c. It appears you also have some exposures to the stock market and properties. If this is so, consider a small business that wont drain your savings and wont stress you further.
Why you need to decide where to invest money for retirement?
Why are you investing for retirement? Well, there are three main goals when investing for retirement. One of these is to keep your savings safe so it will be available when it is needed.
Another is to keep your investments growing; so they will stay ahead of inflation and accrue in hefty sums in the future. And last is to invest in ways that minimize taxes and fees. Having said this, below is a list on “where to invest money now for retirement” that satisfy one or more of the three criteria above.
Are you a retiree or you are about to retire? Are you searching for the best small business opportunities to invest your retirement funds or savings into? Do you want to start a business in retirement?
Some practical investment ideas and opportunities after retirement include:
==> Fish Farming business
==> Poultry farming
==> Retail sales of household items
==> Internet and web based business (for those oriented in this line)
==> Inter and intra state transport business
==> Goods, oil and granite haulage business
==> Sales of cement and other building materials
==> Catering services
==> Okada hire purchase
==> Chairs and tarpaulin tents rentals services
==> Start a professional public speaking service business
==> Start a blog based on your expertise
==> Repairing service
==> Tax service
==> Pet sitting
==> Senior care service
==> Start a network marketing business