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Chuks Udo Okonta
People working towards good time in retirement are very careful and principled. They pick what they do and won’t do certain things because others are doing them.
Here are somethings they wouldn’t do.
*Hope on single source of retirement income
These people don’t look up to a source to earn their retirement income. So, if you are working and all your hope is on what you have in your Retirement Savings Account RSA) domiciled with your Pension Fund Administrator (PFA), please have a rethink and diversify your investments.
Begin to invest in insurance, real state, shares, bond, foreign currency and more, if you have the wherewithal.
*Don’t depilate their RSA
Those looking forward good retirement lifestyle would never seek 25 per cent lost of job pension benefits nor 25 per cent pension mortgage finance.
Instead of depilating their fund, they increase it through Voluntary Contributions (VC).
*Seek pension lump sum.
Those eyeing better life in retirement don’t ask for pension lump sum at retirement. They deploy their total RSA balance into either annuity or programmed withdrawal.
*Don’t worry over annuity or programmed withdrawal.
These people work towards earning pension monthly benefits from both programmed withdrawal and annuity.
They do this by buying insurance annuity, endowment or any other savings products to build wealth that would be used at retirement to buy retirement life annuity, while the funds in their retirement savings account are used to buy programmed withdrawal.
*Display wealth
Those aiming towards good life in retirement don’t talk about their investments. They only interact with their fund managers and people that share same belief as they do.
*Easy money
People in this group don’t invest in ponzi schemes and betting. They go for long term and legit investments.
*Invest with professional counsel
These people invest through registered professionals. They would not stake their funds in unregulated businesses. They would not invest based on impulse. The ask reasonable questions and are convinced before investing.
*Background checks
They engage in thorough background checks and conduct due diligence. They wouldn’t make investments because their friends are investing.
*Secret investments
These group of people don’t engage in secret investments. Their investments are well known to their immediate family members.
*Stop learning
These people never stop learning. They seek knowledge on everything that would effectively shape their lives. They attend seminars, conference, read books and ask relevant questions.
As you are reading this article, are you observing these virtues aforementioned? If you are doing the opposite of what these people do, it means you may not get a blissful retirement, unless you have a mind of attitude. Cheers.
