A considerable number of us do not plan for life
in retirement. Unfortunately, our future financial security is not determined
by how much we are making now, but how much we can keep and for how long.
Corporate and government pension schemes have proved to be unreliable. In
Britain, they talk about Self-Invested Personal Pension (SIPP) while the
Americans call it Independent Retirement Account (IRA). No matter the
nomenclature, you have to make an alternative provision for yourself.

The following are guides on securing your
future:
1. Reduce your liabilities: Liabilities are things that drain your
financial resources, e.g. car loan, mortgage and so on. Reducing them will help
increase your savings which can be used for investment purposes. Wise people
save first and spend the remainder, not spend first and save the remainder.
2. Stocks Investing: Stocks offer a much higher return but is
risky if you are not financially informed. However, when you do your homework,
you could profit from the ignorance of other market participants.
3. Real Estate: This investment vehicle is safer than stocks but
has a lower return. A great obstacle is the huge capital requirement which
makes it available to only those with enough capital.
4. Treasury Bills and Government Bonds: These are government securities that are
completely risk-free. However, their returns are very low.
5. Insurance: It is a good investment. One could become
an annuitant receiving a fixed payment for a specified period or for life after
retirement. However, a lot of us in this part of the world have yet to embrace
it.
6. Emergency Fund: Keep fund for exigencies. It could be in a
bank savings or any other liquid asset.
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