Although the official retirement age in Nigeria is 60, you can decide to retire earlier than the usual time. You can choose to retire in your 40s — and retire successfully at that.
Are you wondering how this is possible? We are here to assure you that it is not only possible but also achievable — as long as you set your heart on it.
To successfully retire in your 40s and live a long, fulfilling life despite not being a part of the active workforce, it’s important that you understand why we all need to retire from work at some point.
Why do you need to retire at all?
The concept of retirement is not new. But sometimes we are not sure if retirement is a duty or a choice. Well, retirement is a gift you owe yourself for all the years you put into working hard to accomplish your goals and dreams.
We are human beings and what this means is that our bodies will get old and weak. We won’t always be as strong as we were in our 20s and 30s. Definitely, we need enough rest from all the stress and hard work we’ve put our bodies through for many years. And for this reason, retirement is necessary.
Are there any benefits of early retirement?
You saw yourself earning that high salary and rising through the ranks. But did you imagine yourself retiring early? Maybe not. And now you are contemplating retirement in your 40s. It must be because you are beginning to realise some of the benefits you could gain from closing the chapter of active work earlier than you thought.
What are they?
Some of the benefits of retiring early include:
More time to do things you actually enjoy
Maybe you’ve always loved cooking but you’ve never had to cook for a living. In retirement, you get the opportunity to do this and even more.
More control of your personal time
As soon as you retire, how you spend your time is entirely up to you. There’s no one you owe 8 hours per day or 40 hours per week. You can decide to allocate 4 hours to tend to your garden and no one will serve you a query for it.
Your health will thank you
If nothing could convince you that retiring earlier is beneficial to your health, perhaps this study would. It was reported that retirees, when compared to workers, showed improved physical functioning and mental health whether they retired on time or voluntarily early.
RELATED ARTICLE: How to Retire Early and Never Have to Work Again in Nigeria
Is it possible to retire in your 40s?
The short answer is yes. You can work towards retiring in your 40s as long as you have built yourself a strong foundation. And by this, we mean a good investment portfolio that has stocks, bonds, etc.
To successfully retire in your 40s, it is assumed that you already have a Retirement Savings Account (RSA) where your monthly savings are deposited into. And you have already started investing your savings in the available assets that can afford you a stable and comfortable life in retirement.
If you don't have an account, the chance is not over yet. Oak Pensions Limited is a Pension Fund Administrator (PFA) that helps you manage and invest your retirement savings according to the new Pension Reform Act (PRA) 2014.
With Oak Pensions, you can plan your retirement well in such a way that you won’t have to work past your 50s considering that you can start to access your pension as soon as you hit the age of 50.
All you need to do is call the Marketing Manager at 09087448661 or send an email to info@oakpensions.com to start your plan to enjoy the benefits of early retirement.
Kommentare