kings112:

I think is to keep their self busy.

odiaero:

I will say the best answer is that they are scared of depending on their pention, which is hanging on a balance, u can never tell what Nigeria government can do

unclenna:

if one plans to start-up a business after retirement then is better not to work for others. What will it profit me after spending 30years to build other peoples' company and start-up my own when am old. Is better i invest that time and start-up my own and take time 2 learn, make mistakes and build my business.

unclenna:

At lot of people will tell you that business is risk, business require skill, business require heavy capital but you find out that after there retirement they will still start-up a business without remembering all the said about business, My point is, is better to start a business when you are young, learn all it take and build your business. When your mates will be retiring to start-up a business you will be a Lord already.

cantell:

You just asked yourself a question and answered it.
Hope you're not expectin anythin else.

highland:

They often fail due to lack of adequate knowledge of money making needed in business compare to civil service where they only learn how to spend money.

saintneo:

[size=38pt]it's not retirement, it is career change![/size]

4Truth:

AM IN AN OCCUPATION WHERE I COME IN CONTACT WITH SO MANY PEOPLE WHO RETIRE AND THEN START A BUSINESS.
IN MOST CASES THE BUSINESS FAIL.
THERE ARE 3 R"S WE MUST NOTE

1-RESIGN. 2-RETRENCH. 3-RETIRE

2 OF THESE IS FORCED ON YOU IN YOUR CAREER.
IF YOU DO NOT RESIGN AND START A BUSINESS, YOU CAN BE RETRENCHED WHEN YOU ARE LEAST READY FOR IT.
OR YOU WILL ULTIMATELY HAVE TO RETIRE, AT AN AN ADVANCED AGE WHEN YOU LEAST EQUIPPED TO WEATHER THE
INEVITABLE CHALLENGES THAT COMES WITH STARTING AND RUNNING A BUSINESS.

THE BUSINESS YOU DID NOT START IN YOUR 20S,30S,40S OR EVEN EARLY 50S,MAY B EXTRA DIFFICULT FOR YOU LATTER IN LIFE.

HAVEN SAID THIS, I MUST QUICKLY ADD.

NOT EVERY TEMPERAMENT HAS WHAT IT TAKES TO START AND RUN A SUCCESSFUL BUSINESS. IT TAKES MORE THAN A BIG BANK ACCOUNT AND BUSINESS IDEA TO SUCCEED.

IF YOU WANT TO RESIGN AND START A BUSINESS THEN BE READY FOR
A DOG FIGHT THAT COMES WITH RUTHLESS COMPETITION IN THE BUSINESS WORLD,LONG WORKING HOURS,SLEEPLESS NIGHTS AND
MANAGING HIGH BLOOD PRESSURES FROM ALL KINDS OF STRESS AND LONELINESS. but that should not be the reason why you will not start a business, because if you still start it after retirement you will still face them all

IF YOU DO NOT WANT ANY OF THESE.
THEN,MY ADVICE IS, PLEASE BUILD YOUR CAREER AND SAVE AND INVEST IN LONG-TERM SECURITIES THAT WOULD YIELD A LIVING INCOME WHEN YOU RETIRE.STAY CLEAR FROM STARTING A BUSINESS THAT WOULD MOST LIKELY FAIL AFTER DRAINING YOU OF YOUR LIFE SAVINGS.
PEACE!!! Playing it safe will not help really, what if mutual fund fail in you old age

unclenna:

I don't think so, I believe is because by the time the retire they have realize that government pension will not be able to pay there bills.
I agree with you

GBAM!!!