Demographic trends reveal that ageing population is on the increase globally. People now retire and live longer thereby increasing Pension Funds obligations, funded from Governments’ (Federal, State and Local Governments) already lean purses. The consequence of this is inability of various Governments to immediately meet up with these increasing obligations.  The resultant effect is that retirees are left in the cold for the first two years (or even more) to face life in without any source of income.

It is very discomforting and worthy of note that a great number of people retire from work (Service) without planning ahead for it. This is in spite of being aware of the exact date they will be due for statutory retirement right from the date they got the job.

Different folks, different strokes!

A number of people talk and worry a lot about what will happen to them when they retire from service but end up not taking any step to address their fears before entering into this timeline. Some other people just take every day as it comes without even giving it any thought whatsoever.

What is your excuse!

People fail to plan ahead for retirement because of different reasons;

  1. The nature of work is very laborious leaving them with no quality time to think of any other thing. They work so hard and earn so little and thus must put in long hours daily to make ends meet. They just resign to faith;
  2. The nature of work is very busy and rewarding, hence they are very comfortable as it is and thus would forget to spare a little time to plan for the years coming ahead;
  3. Procrastination! They have every opportunity to prepare for the raining day but rather kept postponing until it becomes too late;
  4. The belief that tomorrow will always sort itself out;
  5. I have trained my children, they will take care of me;
  6. My family inheritance is there for me;
  7. Etc, etc, etc……………

What is your excuse? 


Arc (Mrs) BamideleFalako
Post Service Lifestyle Consultant
MSME Business Coach/Trainer

Intellectual fulfillment has to do with putting your brain to work effectively in such a way that you
achieve self satisfaction. Have you seen how many retirees burst forth in book writing as though it had
always been in them but was being limited by active service and job. These same retirees that those of
us outside the box might originally have felt have brains that should no longer be &;alive&39; as it were.
As long as you are not retired in the body, then your brain should not go into hibernation because
awakening it when needed might not be that easy. You can obtain this intellectual fulfillment by trying
any or all of these:-
Do you know that being happy and joyful increases cortisol level which kills stress. Put your brain to
intellectual work that would make you happy. If you always like calculation, then challenge yourself to
some sums that could also involve deductions. Make budgets to keep yourself financially safe. Were you
an accountant working somewhere before ? Even after retirement from active service you
remain an accountant so do not take your brain to the &39;mortuary&39;. Get intellectually involved with what
makes you happy. From intellectual involvement you would transcend to intellectual fulfillment.

It is often said that we stop to learn when we die. Always try to make efforts to keep reading. Widen the
horizon of the knowledge you had acquired. Stay abreast on current issues. Remain relevant as a retiree
by reading intellectual books. In knowledge, you are intellectually fulfilled. I am sure with this act and art
of reading, &39;Mr. Brain&39; would smile and say thank you for it.
The state and strength of our brain is partly attributed to what you eat. Eating right brings intellectual
fulfillment by helping to reduce the risk of dementia, amnesia and other brain malfunctions. Eat foods
rich in Omega 3 fatty acids like walnuts, flaxseeds and salmon fish. Also reduce refined sugar intake,
natural sugars found in fruits are more beneficial. Eat right, eat well and your brain will be well fed
towards being intellectualy fulfilled.
I am running off again. See you sometime or anytime later on the &39;word page&39;.
Stay intellectually fulfilled.

There is a first part to this topic. Try to read it up so you could flow along as we move ahead to the
concluding part of this topic.
And now to the next point as continued from the previous article,
When sowing your seed money, it is very important that you look for something you enjoy doing. That
thing that does not make you feel punished or coerced when doing it. Something you are happy to do in
real physical life and even in your dream. Everybody in life has a passion, that thing which they love
doing. Some might not have pursued their passion in active Service and now is that opportunity to
pursue that passion, use and harness it towards profitability. This very point leads to another point
which we would be discussing next.
That passion can only be relevant if it meets a need around you. Your investment would amount to
almost nothing if your &;money investment scheme&39; does not meet a need. To a drowning man, water is
his enemy unlike to a man dying of thirst. Sometimes an environment determines what needs to be met,
so starting off will require you to be very sensitive to the needs that can be met in your immediate

I remember quite well when a close relative of mine was going to retire. A friend of hers who had retired
gave her this advice which is the basis and ground for this point. The advice is as thus, "A lot of people
know that you have retired and would want to be your financial advisors as they would present various
offers and business ideas to you. Do not move with the motions. Think of what you would want and love
to do. Have a plan for yourself or an idea of what you want, so that nobody would plan for you because
many are after their own selfish interest".
Now I can step down and conclude on this note because I am sure I have helped a bit with the question
that births this write-uo &39;FRESH IN , MONTHLY SALARY ALERT STOPPED, WHAT NEXT?&39;.

Have you ever trailed a path you have never been on before? I am sure it would seem to you as if
the road was farther than it actually is because it is unfamiliar and a new road to you. So is this journey
of uncertainty for the retirees. It is a new road you have never traveled on before, those end of the
month salary alerts you received in your account are gone, the little tips, side allowances and benefits all
over. It would seem so scary, cannot be budgeted and you would even almost feel as though you would
not survive as some workers would feel if payment of their salary is being delayed.
This &;money gist&39; is actually one of the scariest things after . I believe you my readers are
not one of those who are fearful but rather those who would take planned and calculated steps into
financial certainty. After retirement, every retiree is given a certain &39;lump sum&39;. With the lump sum you
could invest money into any profitable and credible business. When planning and aiming for this,
carefully take note of the following;
1) Avoid Investing In Ponzi Schemes
Do not rush into ponzi schemes that we call &39;fast fast&39; (hyperbole for speed) because it would only lead
you to &39;fast fast&39; loss. These schemes usually look very enticing but the danger they present ahead is
tremendous. The most devastating part of ponzi schemes is that when you lose your money, there is
absolutely nobody to be held responsible.
2) You Can Start Small
Whatever amount it is you have to invest, always remember to start small, otherwise, that money you
thought you once had would amount to ‘NOTHING&39; within a very short time. The secret of money is that
if it is not put to work, it would never grow nor remain static, but would rather diminish till you will end
up with nothing. Finally, be very cautious of the activities of emergency financial experts who must have
carefully positioned themselves to rid you of your retirement fund at the slightest opportunity.
Though your new monthly income might not amount to as much as you used to receive while in Service,
that would gradually increase with time as you gain more expertise in whatever you’ve invested into.
Have you ever sown a seed and expect it to grow to a tree the following day? With proper nurturing,
discipline and patience, that which was once small may even become more than what you received
while in SAervice.
On this beautiful note, I would step aside on this page. Hope to meet you on the page of the part 2 and
the concluding part of this discussion. You would not want to miss out.

is a fluid concept because it connotes different things and it offers different experiences for different people. While some individuals feel it’s something that would be worried about at a much later time, others view it positively and anticipate it with all wistfulness and some others dread it with great anxiety. Thus, it could be said that it is not a homogenous experience for everyone, but being as it may, someday in the life of every worker, he would be facing the reality of retiring days and the only underlining factor that determines retirement days, is the conduct of a person’s present lifestyle.
With the extravagant lifestyle of workers in civil service across the nation, it seems that only very few number of workers think about their positions some 30 or 40 years from now. It’s a concept so many assume to be so distant and as much as possible; would prefer to avoid the subject entirely. This avoidance could stem from a lot of factors which include fear of the unknown because growing old is a grey issue and the fact that nobody wants to grow old. Women deny their age, and so do men. For those who value their youthfulness and still hold on in the hope of discovering the fountain of youth in beauty products, surgery, natural remedies to avert physical ageing, retirement and the senior life would really be a frightening proposition, some would resort to colouring the grey hair, use skin tightening procedures to maintain young-looking skin, and other countless procedures.
Retirement is a time of significant transition as far as the use of time is concerned. However, it’s importance is made more glaring by the fact that the retired person is made to face some challenges because of his/her new status (as a retired person), hence one’s present lifestyle has a long way of affecting retirement days. It has been noted that retirement is a stressful experience for many because of its associated decision change in the matter of life arrangement generally. And most times, the moment retirement comes knocking on the door of a worker, it enters with challenges and expectations.
It is typically associated with stress for the average civil servant in Nigeria as retirement in Nigerian civil service is guided by Decree 102 of 1979 which deals with pensions and gratuity. The statutory age of retirement of public officers is 60 years while it is 65 years for judicial officers and 70 for academic staff of universities. However, with the reform of the civil service decree, No. 43 of 1988 retirement age has been put at 60 years or 35years in service whichever comes first. It must be stated here that irrespective of the type of retirement, the transition is associated with some stress situations like economic, social, psychological and occupational stress. These stress could emanate from different sources which include money, health, aging, search for a meaningful activity, caring for other family members, e.g. grandchildren or elderly parents, relocation amongst others.
Hence it presents a worse situation when the retiree is not adequately prepared to face this ultimate phase of life. Retirement life demands great managerial ability, and this would be best achieved with early preparation, it wouldn’t be too early to begin as soon as one gains his/her first employment. It has been observed that the retiree in order to experience a pleasant post-retirement lifestyle would have to device effective means of managing some challenges inherent in retirement as he will soon be confronted with the challenge of managing insufficient retirement benefits that come at the end of the month to cater for his needs especially if he still requires to securing residential accommodation, the challenge of a new and low social status; difficult health and declining health condition.
Planning for retirement is a necessary and important part of everyone’s financial plan as making positive plans at an earlier life with little savings reserved purposely for retirement, the better off since to live a comfortable life after retirement demands little sacrifice all along working days. Adequate financial preparation for retirement thereby would ease incidence of retirement adjustment failure. Also, there is an innate need for every worker to adopt a meaningful lifestyle that would not affect the future years of retirement because trying to adjust to low social status will pose a more difficult problem
Therefore, retirement planning should reflect every individual’s dreams, hopes, and aspirations in addition to meeting day to day obligations. It is essential that all prospective retirees should begin with a personal goal setting exercise that reflects how the individual wants to spend the last days of his/her life. Besides the financial preparation, one’s family style can equally affect retirement days, as loneliness is a major fear, but people who recognized the importance of good moral upbringing and have reared their children well, taught them the right values of respect such as caring for the elderly, love for parents, etc. would be most likely cared for by their descendants until their last days, as they would not be abandoned to lonely lives.
Hence to avoid the independence and physical challenges associated with seniority, individuals should ensure that in all life expense, they should consider the future financial freedom and independence, the challenge of living alone, retirement home, medication, health, and others. So the best option is for everyone, irrespective of income, to plan ahead by investing properly. Get creative in planning for retirement by collecting things for the sole purpose of selling them at a high return for extra money upon retirement.
Cut down on huge cost and avoid living an extravagant life that leads to squandering income as it comes. It would be great to have some positive influence on the life’s ultimate destination. This is why, despite the not so nice picture usually associated with old age, retirement, seniority, and related issues, the need for adequate concern for some 30-40 years ahead is indispensable.