Retirement Planning? Let’s Start with a Story
It was around half-past two in the afternoon. I just stepped out of the restaurant having downed a plate of rice with fish stew. I had to walk a bit back to my cosy office on Ajose Adeogun, Victoria Island. The sun was high and I couldn’t wait to get back to my desk to complete my weekly report.
I had barely taken a few steps when a man approached me. From a distance, he hailed me like he had known me from somewhere. I first thought he was trying to reach someone else, but then as he got closer it became clear he really meant to talk to me. I was alarmed at first, but then, calmly composed myself.“My Son”, he had started, “could you please help me? I am a responsible man. I came to see my son in VI here based on the address his friend had given me. He hadn’t spoken to me in a long time and I came to find him. However, the office claimed he no longer works for them”.
As a Lagos person, I immediately thought to myself that this must be a “format”. “Format” is slang for a known script used by scammers to beg you for money. On second thought, I decided to use my church mind.
“I am stranded, and I need to go back to Port Harcourt today. Any amount you could help me with is fine. I beg you in God’s name”.
I’ve seen enough of this format to know when someone just wants to scam me. I usually tell them off. However, there was something different about this man. He looked old, a little rough but not untidy. His spoken English was impeccable. He seemed to have had it good earlier in his life.
I felt sorry for the old man. It’s his lucky day today however, I thought to myself. I had some loose change from my lunch. I gave him NGN2,000. He thanked me profusely and we parted ways.
While I felt good about myself for helping the poor old man, I began to wonder how my own life would be after I stopped working, when I get old and retired. I couldn’t help but question what the man had done all his life. This definitely isn’t a retirement I desire for myself.
The Retirement Dream
In retirement, I would love to be able to afford all the necessities of life and much more. I definitely do not want to be jumping buses in my old age. Even after my kids are all grown and have gone on to make a thing for themselves, I want to be able to take care of myself without being a burden to the people around me. I also wish to retire rich and early, at most by age 40. Do my own thing and not rely on a salary.
I questioned whether my savings would be enough. I wondered if my pension contribution today would afford me the lifestyle I wanted or deserved. Investing would definitely work. However, where does one start? For the rest of that day, I couldn’t focus anymore. I figured I had to make the rest of my working years count.
Have you thought about how you would like to retire?
Cowrywise is helping young people save towards the retirement they deserve irrespective of their income level. These savings can be as little as N1000 daily, weekly or monthly. These savings are invested to earn decent returns. Imagine how much this could be in 20 years (compounded). Retirement is an important life goal. You can start preparing for it today using Cowrywise Life Goals.
Get started now with Cowrywise.
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