Important considerations while planning for early retirement from paid employment to entrepreneurship. How to create a great life after paid employment.

1. Preparing For Your Retirement:
Important Considerations
By
Francis O. Nmeribe
FNIIS, CSSI, FIMC, CMC
President, Success
Publishers
Chief Executive Officer,
Secure Travel and
Residence Services
Limited
Former International
Security Manager, Africa
West Area
The Church of Jesus
Christ of Latter-day
Saints
08183398461,
09019898657
What Questions Are
You Asking About
Retirement?
Please write down your
questions on a piece of paper
and include an email address
or phone number for direct
response

2. What I Believe
“I believe that
it is better to
fall or fail
trying than to
live in the
inconsequen-
tial world of
those who try
nothing for
fear they may
fail.”

3. Tip To Start Planning For Your
Retirement ?
“If you
don’t have
the luxury
of starting
young,
don’t waste
time
worrying
about it.
Start now.
You’ll never
again be
younger
than you
are today”.
 NOW, TODAY!!!
 “Planning financially for retirement
may feel overwhelming.
 For some, that feeling is what keeps
them from really focusing on and
implementing a plan.
 If you haven’t started planning for
your retirement – do yourself a
favor and make TODAY the day you
begin”.

4. Fear Of The Unknown
“Fear the fear
but do the do”
Unknown
Author
“I have now
learned that
fear is a mere
acronym which
mean ‘false
expectation
appearing
real’”
Unknown
Author
 How much of a problem is this fear
of the unknown for you relative to
retirement?
 For many people, this fear of the
unknown regarding retirement is so
crippling that they choose not to
think about it
 How to deal with fear of the
unknown –

5. Important Considerations
Savings
Investment
Education
Certification
Membership
of
Professional
Bodies
 There are a number of important
considerations you must take into
account while preparing for your
retirement.
 As I thought about my own retirement
from the service years ago, these are
the things that were paramount in my
mind and they played key roles in what
I have achieved.
 Ask yourself the question: “what do I
need to do to be ready for retirement?”

6. Important Considerations
Business
education
and
experience
Multiple
Sources of
Income
Health and
Fitness
Programme
Where to
Live After
Retirement
 Some of the thoughts shared by
Dele Abegunde3 in an interview
with Saturday Sun Newspaper of
October 29, 2011 page 34 on the
topic “Every Worker Should
Prepare For A Life Without Salary”
is very relevant here.
 His thoughts that “the easiest way
to make it in life is to be a
professional” is good proof for
these important considerations for
preparing for retirement

7. Savings
My
challenge
with saving
for
retirement
derives
from this
expression:
“My take
home pay
cannot
take me
home”.
 How does someone who could barely make
ends meet with his or her present income save
money for retirement?
 Any attempt to answer this question frontally
would fail as no logic can support it.
 Therefore, I would like to attempt to answer the
question by posing another question: “What is
your alternative to not saving money for your
retirement?”
 The rather obvious answer to my question
used in answering the first question is that
there are no alternatives to saving for
retirement.
 I used bank orders on my salary with a date –
6 years - before which I could not ask for the
money.

8. Pension Reform Act of 2004
“Compulsory
Retirement
Savings
Account (RSA)
only validates
what we are
discussing
here today. It
is not an
alternative.
Saving for
retirement is
what you
cannot
successfully
leave in the
hands of govt.
or any
organization”.
 Before 2006 when the Pension Reform Act
which brought into life the National Pension
Commission (PENCOM) the life of the average
Nigerian pensioner is one you would not wish
your enemy.
 The monumental fraud that has happened in
the Police Pension Administration is evidence
that great as the RSA is, it is not the solution to
the retirement challenges of our time.
 The solution lies in what you could do years
before your official and decided age of
retirement.

9. Investment
“Investment
in bonds and
shares are
good but the
best
managed
investment in
Nigeria is in
Real Estate.
Property is
always
appreciating
either
because of
short supply
or inflation”.
 The most secure investment I have so far
seen in Nigeria is in real estate. In
Nigeria, real estate does not slump. Even
currently when there is a worldwide slump
in real estate especially in America, the
Nigerian real estate market is still
spiraling in value and importance.
 Even if you cannot build but merely
purchased a piece of property with your
savings and income, it must grow over
the years.

10. Education
“When it became
inevitable that I need
to retire early from
the Federal Public
Service in order to
achieve the life that I
wanted, I had no
university degree. I
had only a diploma.
As my retirement
plan included taking
another job so that
my salary plus
pension could give
me reasonable
liquidity and
investable income, I
was worried about
what job level I could
get without a
university degree”.
 One of the things I considered in the planning
is my need for and, how I could, obtain
university education and when I could be
through with it. So, I applied for admission to
get a degree.
 If you already have a degree, your
consideration is whether an advanced degree
– postgraduate studies – would enhance your
opportunities. If you don’t already have a
degree, then you work on getting one and so
on.
 The point is to think about what further
education you would need to move forward to
the next level.

11. Certification
“This is an important
aspect of life in this
day and age. It is a
kind of professional
posturing. It gives
you immediate
advantage in many
circumstances. It is
like getting
additional degree
but because it so
important and
critical to improving
your advantages, it
is being treated
separately. There
are many options in
different fields and
trades and
professions”.
 Security practitioners have the following
certifications to pursue:
 Certified Security Specialist (CSS) – This is
offered by the Nigerian Institute For Industrial
Security (NIIS).
 Certified Protection Officer (CPO) – This is
offered by the International Foundation for
Protection Officers (IFPO) and Certified
Protection Professional (CPP), Professional
Certified Investigator (PCI), Physical Security
Professional (PSP), Associate Protection
Professional (APP) – Offered by the American
Society for Industrial Security (ASIS)
 There are a number of other industrial security
organizations and institutes that provide
security certification recognized worldwide.

12. Certifications
Professional
certifications
are one of
the most
authentic
ways to
show your
expertise in
any field you
are
interested in
 Human Resources professionals have the
Chartered Institute of Personnel Management
of Nigeria (CIPMN) and its equipment in other
countries of the world which run a certification
for human resources practitioners. There are
other local and international human resources
certifications by other organizations.

 Those interested in management should go for
the certification and membership of the
Nigerian Institute of Management (NIM)
(Chartered) or their equivalent in their own
countries.

13. Membership of Professional
Bodies
“In
retirement,
you would
certainly
need to
liaise with
other
professionals
in order to
make it and
to get
patronage
for your
new
business
venture”.
 Membership of professional bodies make
you out as a professional and provides
you with opportunities to build liaison and
network for useful relationships that
support the actualization of your goals
and aspirations.
 They provide opportunity for continuing
education you cannot get elsewhere.
 Fellowship of professional bodies are
considered as equivalent to a Doctorate
degree in the field.

14. Business Education And Experience
“One of the
main
reasons for
the failure of
retired
persons to
survive is
how easily
they lose
their
retirement
benefits
through
unstudied
business
ventures.”
 Unknown to many, the terrain of business, trading
and tricks, need to be learned in both theory and
“long” practice before one can claim to know it.
According to an American Small Business
Association report, only one in a hundred
businesses started each year survives.
 This high rate of mortality for business ventures are
known to have been caused by the fact that many
business ventures are started without due diligence
on the part of the entrepreneurs in learning the
nature of the business they were engaged in.
 Another major reason is that the entrepreneurs
erroneously expected that the business would thrive
at the first instance from the initial investment.

15. Business Education And
Experience
“When you are
skilled in
entrepreneurship,
your transition
to life after paid
employment
would be
seamless. You
would have
gone through
the teething
problems when
you have the
fallback
provided by
your paid
employment.
Your business
would have
been
established and
you have gained
skill running it”.
 The reason why post retirement entrepreneurship efforts fail is
mainly because people dabble into it. They come to
entrepreneurship as the next best thing and not as the main thing
they are supposed to be doing on retirement.
 To avoid failure and loss of your retirement benefits, there is need
to start early while you are still in paid employment to establish a
business and run it throughout your service life and gain the
requisite experience and customer base when you have a
fallback position provided by your paid employment.
 There is no sin in running a business by the side so long as you
do not use the time allotted for your paid employment. For those
who do eight hour jobs, there are still sixteen hours left for the
day. Assuming you spent additional two hours to travel to and
from your paid employment, you still have fourteen hours of the
24 hour day. If you start early in your paid employment life, you
can start by investing only a few hours a day and increase that as
need arises and as you are able to balance your time with work,
family, social and religious responsibilities.

16. Business Education and
Experience
“The only thing a typical
retiree-turned
businessman or woman in
Nigeria know and prepare
about business is what we
learned in basic
commerce – exchange
your money for goods or
services from a wholesaler
and exchange the goods
with a consumer for cash
at profit. That is not
enough knowledge and
experience to survive in
business. It leads to
immediate loss of your
hard earned money –
pension and gratuity and
savings - and early death
for lucky people. The
unlucky ones hang on
there and suffer in poor
health and penury”.

17. Multiple Sources of Income
“When you have
income trickling
effortlessly for a
period of time, the
small amounts
quickly build up to a
big deal. This is
called passive
residual income.
The multiple sources
of income model do
not mean multiple
jobs which can send
one to an early death.
It is about creating
several sources of
income most of which
would run passive
and generate income
residually”.
 At the basic level, one needs between eight or
more sources of income to be legitimately
wealthy. For anything less, the person would
barely be able to survive service life and
retirement and cannot talk about being wealthy.
 It would be better if most of your sources of
income are passive and residual – meaning,
you do not have to work at these sources of
income every day. You work once and get paid
over and over again as if you set the system up
and practically turn your back on it and it would
still be turning in income even in trickles in an
automated system. For example – if you write a
book or books like I have done.

18. Health and Fitness Programme
“Health
supplements
are good and
may be
necessary for
many people
to keep
healthy. But
it is not
comparable
to and,
should not
replace, daily
physical
fitness
programme
and healthy
eating”.
 Basically, people should obtain at least three
days of 45-minute physical fitness activity every
week. It is best to exercise for at least thirty
minutes daily. But where this is not possible,
everyone should aim at getting at least 45
minutes physical fitness activity three days a
week for life.
 The only thing that should stop one from doing
this is a doctor’s advice against the backdrop of
other health challenges to preclude physical
exercise. Where such advice exist, there are
other ways to keep fit we should explore.
 Health and fitness programme is a major
consideration during retirement.

19. Where To Live After Retirement
“Where to
settle at after
retirement is
one of the
considerations
that should
be
preeminent in
your mind.
This is so
because
where you
settle can
have drastic
effects on
how you
enjoy or not
enjoy your
retirement”.
 Many cities are just simply toxic and
unsupportive of quality survival no matter
what you do. Your spouse may not be happy
with the environment. Poor infrastructure
such as roads, electricity and water supply
may hamper your health and business
success.
 Many parts of the country may not support
your retirement business and social pursuits.
It is therefore, important that this be
considered seriously along with other issues.
 Where you choose to spend your retirement
life is critical in deciding where you build your
first house.

20. Resources That I Have That Can Help
You
“Planning your retirement
from the start of your career
or starting now is a must for
your continued peace and
happiness in retirement.
This is a practical tool for
early retirement mindset and
planning”.
This is sold for N2500 and
entitles you to six months
coaching from the date you
asked me your first question
after reading the book. At
this conference it would sell
for N1500. The eBook
edition is available for sale
at N500. The book is
available on Amazon and
Kindle

21. Resources that I have that can
help you
“This is a sequel
to retire early to
wealth and fame.
It contains
reasons why you
should start a
business while
still working full
time and
strategies to
make it happen. It
answers
questions people
asked after they
read the book
“Retire Early To
Wealth & Fame”.

22. Early Retirement Planning
Coaching
“Everybody
needs a coach.
There is never
anyone who
can know it all.
Whatever you
want to know,
someone else
has done it
before. As a
coach, I would
be your
accountability
partner –
holding you
responsible to
take the
required steps
to plan and
execute your
retirement
programme”.
 Inundated as we are with so many things we
have to think about and do to make ends meet,
retirement planning is one project we all need a
coach to achieve. We can all do our retirement
planning by ourselves. But if you are like me,
you would need help of others.
 We can all make our lives great through
outsourcing some aspects of it. Hiring me as
your coach would ensure that you have a
supporter, a cheerleader and counselor who
would hold you accountable to take the
appropriate steps to your retirement life success
beyond your current expectations.
 As a retirement “area man”, I’d help you walk
across “the fear of the unknown” street as your
personal bodyguard without being mugged by
Mr. Fear and his area brothers”.

23. Other Books by Francis O.
Nmeribe
“Writing a
book is one
way to
create a
source of
income that
you work at
once and
earn income
for many
years and
sometimes
perpetually”
 Foundation For Joyful Relationships
 Growing From Your Experiences
 Sex & Responsibility
 One Rape, Too Much (a novel)
 The Adventures of Bomber Billy (a
novel)
 Dating 101: Principles & Practice

24. Contact Me
Success
Publishers
®
Suite C402,
Global Plaza,
Obafemi Awolowo Way,
Opp. FCMB,
Jabi,
Abuja FCT
Nigeria
08183398461
09019898657
 Email: nmeribefo@outlook.com
 Email: fnmeribe@gmail.com
 Suite C402, Global Plaza,
Obafemi Awolowo Way,
Opp. FCMB,
Jabi,
Abuja FCT
Nigeria
 +2348183398461
 +2349019898657

25. Thank You
“The only
bad
questions
are the ones
you did not
ask”.
Unknown
Author.
 Questions
 Comments