Have you ever considered yourself say about thirty five years from now?
Old, tired and broke?
Have you thought of what would happen to your teeming number of dependents especially kids in school,extended family or real estate that requires regular maintenance?

I've been looking at the Nigerian situation closely and i don't think i like the available retirement plans at our disposal.
I like to consider the future whenever i take decisions that affect me and i haven't been quite happy lately considering the situation.

I am interested in finding a legitimate retirement plan that is not connected to the stock market. I already have an RSA and I just wonder if there is anything else available to limit risk from the stocks. I am also aware of forex ira's and bonds but Im looking for something truly unique.

Have you got any ideas you want to share?
What are your plans for retirement?

You can also invest in mutual funds, bonds and treasury bills or buy landed properties. But most importantly, you can start a part time biz if you have the guts

Bigboyz32: You can also invest in mutual funds, bonds and treasury bills or buy landed properties. But most importantly, you can start a part time biz if you have the guts

How can you start a part time biz? do you mean selling in a kiosk after close of work?

I agree with the landed property investment.

you can also enrol in your company ESP-employee savings plan. most companies deduct a certain %tage of ur salary and add theirs to it and invest it on ur behalf, you get a yearly a/c statement. the beauty of this is that you dont have access to it until retirement. your pay-off could be sustantial depending on your contribution to the scheme, number of years,the aggressiveness of the investment, your employer's contribution,etc.

for employees in the private sectors, who have a reliable pension system, retirement may not be much hassle since they still get some sustainanble monthly income.

for employees who are not gainfully employed, they need to do more of keeping substantial part of their income and invest it wisely, and consistently too.

Retirement is supposed to be what it says. A time to retire from active work life. A time to rest from all the hassles one has gone through, trying to make a living. A time to go to some places, spend a little time here and there, purging your systems from all the toxins you have accumulated from stressful lifestyles over the years. It is also a time to be with your family, having always been on the road all those years. But over here, this is not the situation. It is another life full of uncertainties, fears and worries. Another set of working life, setting up businesses, pursuing contracts, taking risky loans and ending up hypertensive if the businesses fail. My brother, it is good you already have a Retirement Savings A/c. It appears you also have some exposures to the stock market and properties. If this is so, consider a small business that wont drain your savings and wont stress you further. Only my honest opinions. Cheers!

I already have plans for retirement in motion, (with moderately/really aggressive investment portfolio). In as long as it's pre-taxed, I have to save up, as for kids in the future particularly going to college, there's plan for that as soon as I have one.

can u pls recomend a pension fund administrator 4 me in nigeria and why you mark such best?

most multinationals uses stanbic-ibtc, so i feel they are reliable.

Retirement does not necessarily mean total abstain from work,it could also mean working out of free will, working whenever and however you like. Retirement without work could be very boring and frustrating. The best way to plan for retirement is to start planning early in life and get yourself addicted on how to save money and educate yourself financially. Investing in bonds, mutual funds, stocks, are good options. Read "POOR DAD RICH DAD" by Robert Kiyosaki.

Stanbic IBTC is the leader of the whole pack. Others come after them. Their ROI is mind-blowing. The problem is that you can't change once you start with one, if not others won't get a client.
Every young person must start planning for their retirement. It's good to go the way of PFA, but you must do your own personal savings. Set aside 10% of your savings and diversify. Put a little in the bank, buy shares of reliable companies, buy properties and invest in genuine business. At 70yrs, i won't like to join queue waiting for pension money that has been stolen in Abuja.

Nice topic, me i no sabi planty grammer, real estate will never fail you, i will soon buy half of ph.

Donbrig: Retirement does not necessarily mean total abstain from work,it could also mean working out of free will, working whenever and however you like. Retirement without work could be very boring and frustrating. The best way to plan for retirement is to start planning early in life and get yourself addicted on how to save money and educate yourself financially. Investing in bonds, mutual funds, stocks, are good options. Read "POOR DAD RICH DAD" by Robert Kiyosaki.

Same feeling [img]http://www.spgames.info/g.gif[/img]

Actionleap: Stanbic IBTC is the leader of the whole pack. Others come after them. Their ROI is mind-blowing. The problem is that you can't change once you start with one, if not others won't get a client.
Every young person must start planning for their retirement. It's good to go the way of PFA, but you must do your own personal savings. Set aside 10% of your savings and diversify. Put a little in the bank, buy shares of reliable companies, buy properties and invest in genuine business. At 70yrs, i won't like to join queue waiting for pension money that has been stolen in Abuja.

Where did you hear that you can not change PFA? You can change but after a certain period which I think was reviewed to a year! Unlike your bank where you can change at will and have multiple accounts, you can do that with pension funds administrators (PFAs). You might need to move your Retirement Savings Account (RSA) to any other PFA for various reasons one of which might be you are not satisfied with the PFA or the Pension Fund Custodian (PFC) which is the bank where the pension funds are kept on your behalf, it's just one of the Deposit Money Banks in Nigeria.

1. Invest in church! Sow ur seeds and increase ur tait. And u and ur generation will be blessed abundantly! Heymen!
2. Invest in naija politics! Steal plenty. Bargain later (if caught) and drop one tenth of what u stole.
3. Invest militancy! Gather thugs or illiterates. Terrorize and destabilize our cun3. And u will be called to Aso Rock for negotiations and settlement!
4. I can go on forever ...!

i Believe portfolio diversification is the most important. If you have a portfolio, try and diversify it as much as possible. 30% in equity, 30% in fixed income(bonds), 30% in alternative investments, like real estate, commodities, gold and so, last 10% in any other thing like cash. It is good to note that, there is an inverse correlation btw equity and bond, when equity goes down, bonds tend to rise. same relationship with equity and commodities as well. Very soon when futures market come to Nigeria, it would be a very good diversification technique, where people can trade crude oil, cotton and all.

The most important is for you to have a very good savings habit, dont consume more than you earn, reduce reoccurring expenditures like feeding, transport and all. first take care of basic spending like feeding, accommodation, clothing and transportation. Any other expenses is not compulsory.

i am an advocate for early retirrment i.e between age 45 and 54. if you have a good pension in place, your retirrment period could be used to run some petty business that wont be time and energy consuming.with your payoff from ur employer and other investment and ur monthly stipend from ur PFA, uou shouldnt have any problem. thats what im aiming at. I wong want to give my most youthful age to my employer. retire when you are still young, the remaining years of ur life ought to be spent doing what you love doing.
also having not more than 3 kids, is my ideal number of kids. too many kids leads to pain and anguish eventually.

Keneking:

How can you start a part time biz? do you mean selling in a kiosk after close of work?

I mean starting any part time biz, kiosk inclusive. But it should be a biz that can always work and earn money even when you are not available. This means u have to get someone run it and make you money while you are away