Chairman, Petroleum Tankers Drivers of NUPENG, Ibadan,
Salmon Oladiti, on Tuesday advised potential retirees to cut down on their
lifestyles.
Oladiti said this at a pre-May Day lecture in his paper
entitled: “Developing Financial Literacy for Stress-Free Retirement,” in
Ibadan.
Things he listed they should avoid in order to achieve a
stress-free retirement include smoking, alcohol consumption, drinking outside
the home, gambling and laziness.
Other negative tendencies include having numerous wives and
concubines, eating unhealthy foods and not creating time for leisure.
"Most important of all, don't buy anything that
constitutes a liability. A liability is anything that takes money out of your
pocket no matter what they are worth in the future. Think in terms of cash
flow. What can I invest in today that will give me funds tomorrow?"
Oladiti said.
He said, in planning for retirement, there was need for
civil servants and private sector workers in the country to have financial
literacy. He explained that developing a healthy relationship with money and
building a wealth of assets would generate steady income, adding that one of
the ways to attain financial literacy was to invest in oneself.
“When you invest in yourself, it means taking on the
importance of educating yourself. Education not in the academic or technical
sense, there are necessary skills to be developed in life. Our education does
not stop at the college only," Oladiti said.
He said the best form of education for potential retirees
was financial education with investment in financial Intelligent Quotient (IQ).
No comments:
Post a Comment