Professional Documents
Culture Documents
and Opportunities
John Aderibigbe
Africa Leadership Forum
Introduction
• "I wake up early in the morning to realize that, its not the
usual day. I am retired. I don't know how to spend the day.
I pass some time with the newspaper and the rest watching
TV. Till then my grandkids came back from school. I plan to
go out with the family, but everyone is tired and they have
their own set of works to do. I have no other go, but dig
myself into those philosophical books. The day is over and I
am back on my bed to welcome another day of loneliness,
loss, frustration, and grief". Sharon Supriya on
www.living.oneindia.in
This is the life after retirement, as Richard Armour Quotes,
"Retired is being twice tired, I've thought. First tired of
working, Then tired of not."
Objectives
• To prepare retirees to anticipate and
proactively respond to the challenges of
retirement
• To open their minds to opportunities that
abound after retirement.
• To give insight into entrepreneurship options
as a proactive measure to remain active,
productive and independent after retirement.
Retirement Challenges
• Studies show that high percentage of people die during
their first year of retirement. One of the reasons being,
– Psychological trauma.
– A sense of feeling that you're a worn out individual and
should be placed in the corner of the house sitting idle
most of the time.
– Loneliness
– Financial temptation to become extravagant: marry new
wife, go on long vacations, buy a car (or new one).
– Dependence on children/ family
This period of life can be made fun and worth living
to explore the unexplored.
Retirement Challenges
These challenges listed above have negative impact
because of the following reasons among others:
• Lack of preparation and planning for retirement
• Financial Ignorance
• Rigid Employee Mentality/ Dependency
Syndrome
• Rigid believe in tradition: invest in your children
now, they will reward you later.
Proactive Leadership
• While others see insurmountable problems in
retirement, a proactive person will see
challenges that can be overcome by their
mindset. After all people miss opportunities
because opportunity puts on overall and looks
like work. Once they see work they lose
opportunity.
• What you see is your choice.
• Planning is the way out…
Retirement planning
• Planning should include knowledge about
– Time horizon: short and long term focus
– Scope of retirement plan- investment and savings
as well as financial literacy and health
management
– Expectation from retirement income and various
sources of income
Savings vs. Investment
• Y= C+S+I
S= Y-C
I=Y-C
S=I, savings and investments are left over of consumption
• While savings yield interest, investment yields profits or
dividends.
• Saving in bank or cooperative
• Investment in stocks, properties and other assets: world price
and meltdown has proved that these are subject to
fluctuations.
• Risk vs. Benefits: saving is less risky than investment and thus
yields less benefits
• Investment in business: with the right knowledge and capital,
business profit provides the expected growth potential.
Prospects and Opportunities
Here are few ways to stay active and make money after retirement. Work is
the important way of coping with the nagging worries.