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  • Writer's pictureDamilola Agubata

How to Retire Early and Never Have to Work Again in Nigeria

Almost everyone you meet tells you that hard work is the key to success in life. This makes you think that you must work to lead a life of comfort. It has not crossed your mind that you can retire early and never have to work again to pay bills. The thought of this happening seems impossible.

You’ve heard all your life – and you also believe – that you can’t survive without a job so you continue to stay employed and hope that you don’t lose your job. If this is you, you are part of the 3.32 billion people across the world that are gainfully employed in 2022.

This article is not to discredit the importance of work to you. It is to show you, in a simple way, how you can retire early and never have to worry about work again to get the things that you long for.

First, we’ll look at what early retirement means.

What is early retirement?

Early retirement is simple. It means retirement before the age of 65. This means that if you decide to retire at 50 or before 50 (assuming that you’re not 50 already), then you’ve decided to retire early.

Most times, people who retire early do not do so out of their own will. On the contrary, it is because they have been out of a job for a considerable amount of time. However, since the focus here is on voluntary early retirement, we won’t spend a lot of time talking about involuntary early retirement.

To know the steps to take to retire early and never have to worry about working again, you need to first familiarize yourself with the benefits of early retirement. Here are some of the benefits of early retirement you should know.

Benefits of early retirement in Nigeria

It boosts your health

Early retirement significantly boosts your health and reduces your chances of occasionally falling sick. Think about it: you get to wake up when you feel like it, exercise as much as you want, eat when you want to and visit the doctor without having to cancel last minute – does this not sound like a great package? You’d agree that it does.

You have more time to travel

You open your Instagram app and the first thing you see is a high-resolution picture of a tourist in an exquisite location. You tell yourself that this is your destination for summer vacation but then it occurs to you almost immediately that your key work projects fall during that time. Guess what? You wouldn’t have to worry about this if you were already retired from your job.

How to Retire Early and Never Have to Work Again. Credit: Oak Pensions
How to Retire Early and Never Have to Work Again. Credit: Oak Pensions

Picture yourself on a Santorini beach applying sunscreen as you sip on a fancy cocktail juice with the latest edition of your favourite magazine lying beside you – this could be you if you retire early. Guess what? You could also blog about your experiences while you are at it.

You have more time to spend with your family

This doesn’t need to be overstated. When you retire early, you have more time to spend with your family. This could be great for you if you’ve missed out on significant family events because you were busy at work. Now is the time to make up for the lost time and strengthen your relationship with the ones that actually matter in the long run.

How to Retire Early in Nigeria

After discovering some of the benefits of early retirement, it’s important to know how to retire early. Here are the steps to follow.

Get a well-paying job

To retire early and never have to work again, the first step is to get a job – and not just any job – but a job that pays you well enough to save a substantial amount of money for your retirement as well as cover your bills.

How do you land a well-paying job? Upskilling. This means that you should take additional courses and programs that will enrich your profile and resume. Get that certification. Apply for that Master’s degree.

Then go ahead and send in your applications to companies that have a reputation for providing a robust compensation for their employees.

Take on a side hustle

Yes, you love your job but you can also make more money with a side hustle. If your goal is early retirement, then you should not miss out on the opportunity to make more money with a side hustle.

If you are concerned about how stressful it may be, remember that you won’t have to work forever because you’re planning to retire early without having to ever work again. You can check freelance websites for remote side hustles that can fetch you good pay in addition to your 9 to 5 income.

Start saving for retirement

This is the ultimate step you need to enable you to retire early and never have to work again. The earlier you start to save, the easier it is to retire early. To open a Retirement Savings Account (RSA) and have at least 10% of your monthly income go into it, contact Oak Pensions via, or call the Marketing Manager on 09087448661.


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