By Taiye Olayemi
Ms Adetola Adegbayi, an insurance and financial expert, on Wednesday advised Nigerians to embrace diverse investment ventures to secure a beneficial and comfortable retirement.
Adegbayi, the Chief Executive Officer of Mutual Specialists, gave the advice during the 2025 Inspenonline Retirement Summit held in Lagos, with the theme, “Attaining Good Retirement Amid Economic Headwinds”.
She said that due to economic instability often affecting pension sufficiency, Nigerians should develop a habit of investing in diverse ventures early in their careers to create supplementary income sources.
She noted that this would enable them to save for retirement, thereby ensuring financial stability and security in retirement.
She explained that this proactive approach could enhance their quality of life and provide peace of mind.
“Good retirement is a journey built on delayed gratification. It is important to build reserves during active years through money generated from investments.
“During your active years, you can have multiple streams of income by embracing diverse investment ventures; this will allow you to save adequately for retirement.
“Retirement should be planned early enough. You can invest in forestry, tourism, and other fields.
“Do not shy away from taking risks because risk is a fundamental part of life, so uphold risk management principles.
“In your active years, develop a personal budget where your living expenses should not be more than 30 per cent, another 30 per cent should be on discretionary expenses, and another 30 per cent for savings; the remaining 10 per cent should be used to cover your capital debt,” she said.
Also speaking, Mr Fola Daniel, former Commissioner for Insurance, noted that achieving a secured retirement amid rising inflation and market volatility demands smart financial practices.
Daniel urged Nigerians to take proactive steps to save toward retirement as early as when they are gainfully employed.
“The post-retirement period is no time for speculative investment.
“Avoid emotionally driven decisions at that age and ensure you make early preparation for healthcare,” he said.
The Chairman of STI Leasing Ltd., Mr Tom Ogboi, harped on the need to begin plans for retirement early enough.
Ogboi said, “Let your horizon be long-term, start investing gradually, ensure you have a diversified portfolio so that you can have multiple streams of income.
“Ensure a proportion of your salary goes into investment and savings.
Inflation makes nonsense of whatever has accrued to you as pension, but your investment will yield good profit,” he said.
Mrs Folashade Onanuga, Managing Consultant, Motodols Consults, recommended that organisations provide pre-retirement courses to educate employees on effective retirement planning.
Onanuga said this initiative would equip individuals with the necessary knowledge and skills to navigate the transition smoothly.
She explained that with such courses, organisations can empower their employees to make informed decisions about their financial futures, ensuring a more secure and fulfilling retirement.
“Living below our means while working is good; it helps you invest and plan well. Your children should not be positioned as your retirement plan,” she said.
