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Chuks Udo Okonta
Low income earners such as casual workers; teachers in most private schools; janitors; private security personnel amongst others can enjoy good retirement if they plan well.
It may be argued that these group of people who earn below the national minimum wage may struggle to structure a good retirement plan due to the harsh economic situation in the country. With discipline, divine help and good plan, they can earn a comfortable retirement.
How to earn comfortable retirement
*Cooperative society
Joining an organised cooperative society would enable these class of people pool fund together, which when collected at the end of the season could be channeled into retirement investments such as; micro pension plan, deferred annuity, real estate, agriculture, equities; bonds; treasury bills among others.
*Education
Acquiring higher education whilst on a low paying job, would pave ways for a better job or business that guarantees better retirement.
*Esusu
Saving money through esusu system, would also help raise funds that can be channeled into retirement investments portfolios.
*Education for children
Providing good and quality education for their education, would help them to secure good retirement, which can be provided by their well-to-do children.
*Skill acquisition
The acquisition of good skills by the workers and their children, would help them improve their funds which would be channeled into retirement investment.
*Good family
Comfortable retirement is not just about having money, having a good family is a good foundation for comfortable retirement. The building of a good family by these class of people would enable them enjoy comfortable retirement.
*Agriculture
Agriculture provides a sustainable means for comfortable retirement. Low income earners can channel their aggregated income into agric areas like; palmoil planting, fruits trees, banana and plantain, animal husbandry amongst others.
*Good lifestyle
Cultivating a good lifestyle that is void of abuses such as; excessive alcohol intake, sexual promiscuity, fraudulent acts and more, would provide good retirement.
“Immediate annuity
Workers in these category are often paid off when they exit their employments. Such huge fund obtained, should be used to buy immediate annuity which would provide regular income in retirement.
Comfortable retirement is obtained through discipline; divine help and good plans. Anybody with the help of God and well set out plan can retire well irrespective of the earnings.
