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FACTORS ASSOCIATED WITH RETIREMENT THAT HAS TO BE CONSIDERED BEFORE RETIREMENT.

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@papa-mensa
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With the way I see several business owners handle their business from a certain age up till the time they get old, I wonder if there is no retirement for business owners. Employees usually get to a certain age where they decide to retire from work and they just rest but we continue to see very aged business owners continue to work without retiring.

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However, retirement does not have to do with age because there are some young business guys who retire at a very early age. So I think it does not have anything to do with being an entrepreneur or not, it only has to do with self-decision and if the person is wealthy enough to retire. Basically, retirement is largely based on financial factor, in order to retire properly you need to be aware of the expenses attached with retirement and you also need to calculate the amount you have available if it will be able to cover the retirement cost.

Just before you get convinced about early retirement, it is important to read this to the end and find out if you are truly ready for retirement before you do so and if you are not ready, this post describes a simple guide that will help anyone have a good retirement plan.

Before you retire, these factors has to be seriously considered.

Consider the income plan, before you choose to retire there must be a guaranteed source of income that will make the inflow of money very possible after retirement, it is unwise to retire without a steady flow of income.

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There is a risk attached to retirement, what if the income expected does not come through at a particular month or year, how can you properly and legally handle the situation that will make you have your retirement fund and what other thing can you do that will guarantee that you will not go hungry while there is no inflow of the expected money.

With the growing rate of inflation in some countries, before retirement the price fluctuations of some items is very common, as a retiree how do you plan to cope with receiving the same amount and how well is it going to cover your expenses over time.

Even if the income is fixed, how do you handle the fact that the money you used to purchase a pack of cheese two months ago cannot purchase the same pack of cheese this month? Retirement is linked to so many factors and before you jump right into it, get your facts right.