Excerpts from Retirement Planning in turbulent times by Lolade Adesola.
She started with today’s realities. Jobs would be automated and digitalized. The time for change is NOW and not in the future. One must work to adapt to present realities.
Banks and financial institutions are being threatened, margins are thinning out so there is need to create the future one wants.
Preparing for change under three sub headings:
- Skills upgrade: you can either prepare for a fintech world OR prepare for career pivot.
- Debt management: most people are heavily indebted. Effective debt management is important for retirement planning. Reduce indebtedness to employers. Pay down consumer debts. Take loans ONLY for investment purposes.
- Income planning: invest long-term, create multiple streams of income.
Probing questions: do you have a retirement plan aside your Personal Funds Managers?
Is your portfolio properly diversified? Do you monitor your investments regularly?
If your revenues from your portfolio can’t meet your lifestyle, then you still need to prepare well.
Some overlooked investment vehicles were mentioned. For more, Listen Here
Keep preparing for the future!!!