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Retirement Investment Plans Nigeria - 7 Free Tips To Turn Plans To Reality

Retirement investment plans are essential for crafting a blueprint for escaping the 8-5 rat race anywhere you live in Nigeria.

Unfortunately, millions of employees in Nigeria have great retirement planning strategy but lack the will to implement those strategies.

In simple words . . . most employees in Nigeria fail at execution.

So, as a proactive employee, how do you develop and implement an investment plan that will ensure that you create an investment portfolio that will generate ongoing wealth for you even after retirement?

What exact steps do you need to follow to ensure your retirement investment plans will come to fruition?

Follow the practical steps below.

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The 7 Practical Steps To Turn Retirement Investment Plans To Reality In Nigeria

Step #1: Write Down Your Plans

The first step to achieving anything meaning is to write down your plan.

Write down the list of possible investment opportunities you wish to invest in and paste that list on the wall above your reading desk.

Keeping your written plans directly in front of you every day helps you keep them in focus and move one inch closer towards executing them.

Step #2: Set Timeline For Each Activity

Investment plans without timelines are meaningless plans.

Therefore, set timeline for each activity.

Start with research because, while investing is a great way to grow your retirement income, many advertised investment opportunities are either pyramid schemes or outright fraud.

Do your research for each possible investment opportunity and cross out (yes, delete) any investment opportunity that sound questionable or too good to be true.

Set targets and ensure you stick with them. That is the only path to effective implementation of your retirement investment plans.

Step #3: Set Aside Funds To Execute Your Plans

Retirement Investment Plans Nigeria

Investment plans cost money to execute.

Yes, wealth creates more wealth . . . money generates more money when invested correctly.

Therefore, you must decide what percentage of your salary you wish to set aside every month towards financing your investment plans.

Yes, saving money for retirement investing is essential to successful execution of your retirement plans.

Step #4: Acquire Financial Education

You can make money from any business or investment opportunity if you have acquired relevant and adequate financial education about that business or investment opportunity.

Consequently, the first step towards becoming an expert investor is to learn.

Decide what investment opportunities you're interested in and then immense yourself in acquiring more knowledge about the pros and cons of those investment opportunities.

Step #5: Change Your Mindset

Thousands of employees in Nigeria who are extravagant spenders on non-essentials often say, "Let us eat and drink for tomorrow we may die".

Employees with that kind of mindset hardly invest long-term because long-term investing is exactly like "planting a tree whose shade you may not live long enough to sit under".

The truth is . . . some employees live as much as another 35 years (or more) after retirement and, hence, get to enjoy a financially independent retirement because of the returns from the retirement investment plans they executed while still in paid employment.

On the other hand, some others do not live as long as that. But their wives and children get to enjoy the fruits of their investments even if they do not personally live long enough to do so.

If you desire to invest for the future, irrespective of how long your life will turn out to be, then you must change your mindset from "lets eat and drink for tomorrow I may die"  . . . to a more productive and future oriented mindset.

Yes, the sacrifices you make today are what you (or your loved ones) will enjoy tomorrow.

Step #6: Focus On Cash Flow

As discussed elsewhere on this retirement planning guide (this web site), the financial challenges employees face after retirement is caused by inflow of little or nothing into their bank account after they retire from their paid job.

Consequently, the best retirement investments are investments that have the potential to deliver cash into your bank account (outside of your salary) month after month.

Therefore, focus on investing in cash flowing assets while you're still in paid employment.

Step #7: Track Your Progress

Monitoring your progress is essential to effective execution of your retirement investment plans anywhere you live in Nigeria.

So, periodically compare your progress . . . what you have achieved so far . . . with the plans you had when you started and the timelines you set for each activity.

Make adjustments to your plans and execution strategy as necessary.

Retirement Investments And Wealth Creation

The overall goal of investment for retirement planning is to create wealthy for yourself outside of your paid employment.

You see, most people who live above the poverty level as well as those who appear wealthy are able to maintain their high standard of living because of the size of their salary.

The sad reality is that most of these employees have no other income source outside of their monthly salary.

Yes, it's like having all your ends in one basket and then placing the basket on a desk in such a way that it can easily crash.

Consequently, most ex-employees in Nigeria become broke and miserable after less than 10 years of their retirement.

To avoid that same fate, all your retirement invest plans must be focused on creating wealth for yourself outside of your paid job.

In practice this means your investment strategy must include cash flowing opportunities like:

Your financial knowledge must also include knowledge of financial things like:

. . . and a wide range of financial information that will ultimately guide you to total financial freedom after retirement.

This seems like a lot to learn.

Of course!

That is why more than half of the country's retiree population become seriously poor in less than 10 years of leaving their paid job because they lack the financial knowledge to generate income for themselves outside paid employment.

So, where do you start?

Use the links above to access more information.

Second, take our FREE 7-day retirement e-course, "Rethink Retirement - 7 Tips To Escape The Rat Race And Retire Happy".

Third, subscribe to our weekly Entrepreneur Guide . . . the premium entrepreneur magazine for proactive Nigeria employees . . . to get our free regular updates on retirement planning and entrepreneurship.

Retirement success is beckoning to YOU. Accept the challenge and come on board.

Take advantage of our retirement investment plans and earn guaranteed retirement income.

Related Article:

Passive Investment Income

Retirement Plan Investment

Investment For Retirement

Best Retirement Plans

Rethink Retirement

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