Post Retirement Life

Life in Retirement : Challenges and Opportunities : 

Life in Retirement : Challenges and Opportunities John Aderibigbe Africa Leadership Forum

Introduction : 

Introduction "I wake up early in the morning to realize that, its not the usual day. I am retired. I don't know how to spend the day. I pass some time with the newspaper and the rest watching TV. Till then my grandkids came back from school. I plan to go out with the family, but everyone is tired and they have their own set of works to do. I have no other go, but dig myself into those philosophical books. The day is over and I am back on my bed to welcome another day of loneliness, loss, frustration, and grief". Sharon Supriya on www.living.oneindia.inThis is the life after retirement, as Richard Armour Quotes,"Retired is being twice tired, I've thought. First tired of working, Then tired of not."

Objectives : 

Objectives To prepare retirees to anticipate and proactively respond to the challenges of retirement To open their minds to opportunities that abound after retirement. To give insight into entrepreneurship options as a proactive measure to remain active, productive and independent after retirement.

Retirement Challenges : 

Retirement Challenges Studies show that high percentage of people die during their first year of retirement. One of the reasons being, Psychological trauma. A sense of feeling that you're a worn out individual and should be placed in the corner of the house sitting idle most of the time. Loneliness Financial temptation to become extravagant: marry new wife, go on long vacations, buy a car (or new one). Dependence on children/ family This period of life can be made fun and worth living to explore the unexplored.

Retirement Challenges : 

Retirement Challenges These challenges listed above have negative impact because of the following reasons among others: Lack of preparation and planning for retirement Financial Ignorance Rigid Employee Mentality/ Dependency Syndrome Rigid believe in tradition: invest in your children now, they will reward you later.

Proactive Leadership : 

Proactive Leadership While others see insurmountable problems in retirement, a proactive person will see challenges that can be overcome by their mindset. After all people miss opportunities because opportunity puts on overall and looks like work. Once they see work they lose opportunity. What you see is your choice. Planning is the way out…

Retirement planning : 

Retirement planning Planning should include knowledge about Time horizon: short and long term focus Scope of retirement plan- investment and savings as well as financial literacy and health management Expectation from retirement income and various sources of income

Savings vs. Investment : 

Savings vs. Investment Y= C+S+I S= Y-C I=Y-C S=I, savings and investments are left over of consumption While savings yield interest, investment yields profits or dividends. Saving in bank or cooperative Investment in stocks, properties and other assets: world price and meltdown has proved that these are subject to fluctuations. Risk vs. Benefits: saving is less risky than investment and thus yields less benefits Investment in business: with the right knowledge and capital, business profit provides the expected growth potential.

Prospects and Opportunities : 

Prospects and Opportunities Here are few ways to stay active and make money after retirement. Work is the important way of coping with the nagging worries. Physical activity: The best way to be healthy, independent and occupied is by doing some minor physical exercise such as walking and yoga. Meet friends: Meet your old friends outside. There may be times when you missed out the most important events with your friend. Plan a picnic, as even he may be feeling lonely. Gardening: Gardening is the best way to keep you occupied. You can even get the younger ones involved in this work. Decorate your house with these plants and flowers.

Prospects and Opportunities : 

Prospects and Opportunities Help grandkids: If your grandkids are busy with homework and you have some time on your hands, why not help them with their work? Go on a holiday: Go on a cruise with your partner. Visit a distant land, which you have always wanted to see. Volunteer: Be a volunteer to an NGO who deal with projects relating to the empowerment of women, child care or anything that draws your interest and is also of a major help to the society. Join a course: Wasn't there a time when you badly wanted to learn to paint, sing or dance. Here the time has come. Join a course that interests you.

Prospects and Opportunities : 

Prospects and Opportunities Pen them:You may not be a celebrity to the world, but life must have taught you something, that you always wanted to pen down. So why don't you try it now? You have the leisure and even the patience too. This is the best opportunity, to tell the world what you feel. Home Ownership: home may provide a means of income generation, assets to be bequeathed to dependants but may not meet the growing needs of all Use your skills:You may be a businessman, a professional, or an accountant. Use your skills to train them. Start a course. This will fill your pockets and even finds you some work to keep going. Entrepreneurship option: become educated on your choice of business. Take the risk and fly with it. This is the most proactive of them all. Learn! Learn!! Learn!!!: to become a better person.

Introducing our Pre-Retirement Training : 

Introducing our Pre-Retirement Training The training would help to: Expose retirees to innovative business ideas Expose retirees to a range of vocational ideas Package their business plans Change the mindset of retirees from being a salary earners to employer of labour Ensure that retirees would not become redundant after retirement

Course content : 

Course content Personal entrepreneurial mindset re-engineering Retirement planning strategies Entrepreneurial competencies development strategies Business and marketing development strategies Leadership for business Business management techniques Using information technologies to solve business problems Health management techniques Financial management in retirement

Conclusion : 

Conclusion Retirement is an awaiting opportunity to which adequate preparation and right mindset can explore. Extra-ordinary people are ordinary people doing extra ordinary things. As a retiree you can be one because age is not a determinant of how far one can go. Thanks for listening