BY Cynthia Alo
Group Managing Director, Meristem Group, Mr. Wole Abegunde, has emphasized the need for individuals to take up retirement plan at an early stage to make life much easier.
The GMD stated this at a breakfast session in Lagos tagged, ‘Conversations you do not want to have’,.
Abegunde said the event which centered on retirement planning, tax planning as well as wills and trust, will help demystify the myths and help clients make informed financial and investment decisions.
According to him, the event will also help participants make informed decisions about the management of their wealth and its preservation over the long term adding, “There is a need for individuals to begin retirement planning at an early stage of their career. The key to a comfortable retirement lies in the time allotted to putting resources aside, so if you start early, retirement is a lot easier.”
Also speaking, Managing Director Meristem Wealth Management Limited, a subsidiary of Meristem Group, Sulaiman Adedokun, said, “Retirement planning should not be treated as an activity for the old or about to retire, but rather as a starter pack for a fulfilled career.
Explaining the kinds of retirement one can take, he said, “There is active retirement which involves the desire to remain active and engaged, to travel, take vacations, get involved in the community and social causes while there is also passive retirement which includes spending time with family, nursing health issues and generally winding down.
According to him, “These retirement phases are not inevitable and should be characterized by financial stability which must be accumulated early in one’s career”.