For potential retirees to avert the hardship that comes with 100 percent reliance on pension funds at retirement age especially in Nigeria where pensions are delayed, people within the productive period must adopt good investment plans, Laja Shoniran, a financial literacy expert, has said.

Shoniran, who doubles as a human capital development trainer, said that a great number of Nigerians have been reduced to nothing in their retirement ages because they failed to plan during their productive ages.

Speaking in Lagos recently at the launch of his new book titled, ‘Retirement Reinvented’ Shoniran advised retirees not to invest more than 10 percent of their gratuity, but to invest in learning from people who had retired earlier.

He said retirement should not be considered as a death sentence, instead retirees should seek other ways to add value to their lives and the society at large.

He also upgraded them to adopt modern technological trends especially those that would teach them how to make good investments.

According to him, retirees should take advantage of technology, cut excess spending and invest wisely.

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The book, Shoniran said, was born out of his experience with the hardship some retirees, who only depend on pensions, go through in Nigeria where pensions are delayed.
He described the book as a compendium of all his seminar and training materials over the past 18 years, adding that there is a need for early preparation for retirement through saving, investment, reading about retirement, and attending training and seminars on retirement.

On his part, Joshua Etopidiok, chairman of the book launch, said a lot of people retire without plans and they die within 10 years because they are inactive, adding that many think retirement is a death sentence.

Etopidiok urged Nigerians to plan ahead for their retirement, adding, that people must plan to earn additional income during retirement and must remain busy to attract additional income.

Reviewing the book, Richard Ikiebe, director of the Centre for Leadership in Journalism, School of Media Communication, Pan-African University in Lagos lauded the author for his consistency, persistence, and utilitarian approach to things.

Ikiebe described the book as a comprehensive guide, that any reader can put into action, adding that the author blends his expertise with a deep understanding of people, social dynamics and economic realities to present a holistic approach to retirement.

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He said Shoniran has drawn from real-life experiences, and case studies and has skillfully illustrated what the challenges are like for many retirees for people to learn from what other experiences.

“The book also encouraged readers to embrace their unique circumstances and aspirations and use them to make something new out of the new life they have found themselves in,” he said.

The book reviewer further said that the author encouraged readers to view retirement as an opportunity to grow, contribute to society and engage with peers. It also challenged the traditional model where retirement is considered a death sentence.

On his plans to expand the reach of the book, Shoniran announced that he will create active retirement clubs to link people with opportunities, and secondary careers.