Interesting Facts About RETIREMENT PLANS That You Probably Didn’t Know

1. A PRE-COVID STATISTICS
In Nigeria, eight out of every nine working Nigerians do not have a retirement plan and will retire BROKE! (NBS figures)

2. YOU PAY LESS TAX IF YO U HAVE A RETIREMENT PLAN!
Do you pay Taxes?
You can reduce how much you pay as Taxes
when you sign up for some kinds of Retirement plans.
(Ask me how)

3. INFLATION IS NOT A PROBLEM
Do you know that some Retirement Savings are computed in Compound Interests.
Your investment is guaranteed even in the midst of this strong inflation as
the savings grows geometrically.

And remember it is salary for life.


4. RETIREMENT PLANS ARE CHEAP & FLEXIBLE
You don’t need serious paper works,
off course it is easy for Students, Business people, Civil servants, Private company workers etc. Usually for Age 20 to 68.

Its flexible because you can pay in any frequencies i.e. annually, semiannually, quarterly etc.

There is huge 52% discount when you pay a simple lump sum.

5. IT’S THE NEW OIL
From a look at the present realities,
In this present era of dwindling ROIs in shares, bonds, Treasury bills etc and embargo on crytos, many Nigerians have resorted to this new oil well and have greatly moved towards this direction as it’s a major avenue to protecting their wealth and earning huge ROIs.

6. RETIREMENT PLANS ARE HIGHLY PROFITABLE

Compare what you pay i.e. your annual premiums to what you get at retirement for life.

For example, I have a client who paid in a single one off payment of N10,000,000 at Age 40 now and He will be paid N6,000,000 every year for life from age 55 by my firm.



And a death benefit of N30,000,000 Is paid to his preferred beneficiary (e.g. His children, spouse etc) if He dies after the plan matures at 55, plus other benefits.


7. MASSIVE DEATH BENEFIT

Your preferred beneficiary gets huge death benefits which will greatly put Children, Spouse and Family members back on their feet again.



8. PEACE OF MIND ABOUT THE FUTURE

It is very true that Retirement plans gives you focus, rest of mind and ability to invest in other investment plans wholeheartedly.

LIMRA, a global financial services and insurance association, found that 50% of workers who have a written plan feel very prepared for their retirement.




For Expert advise chat the author.


By
Eyeyeh Benjamin MSc
Investment and Retirement Expert
WhatsApp 08-0-38-821-9-35