I heard the story of an insurance agent who was talking to a group of people about retirement. They told them to start preparing for retirement early enough. They gave an illustration of someone who had lived in a city all his working life enjoying all the hedonics.. (if this term is new to you, click here to read an article on it) but upon retirement, they went to live in a semi permanent house with no running water, no electricity and a pit latrine. Imagine for a moment that one day you will go back to showering from a bucket of cold water as we did in high school. Is this a good picture?
When you retire, you won’t have your usual strength to do the work that you do and neither will you have a salary as you have now. There’s a chance that you will not afford to pay rent in a big city. It is important to plan ahead for that time.
This Covid period has shown us that retirement does not necessarily come at 60 years. It can come earlier maybe in the form of job losses or your skills being rendered redundant by a machine.
Are you ready to get fired?
