Public workers retirement system: lessons for young employees

Editor: Arnold Mutamiri

Any time that passes each day draws you close to the time of your retirement. Whether you like it not, one day you will retire from work. Retirement means another way of life is taking its course. One cannot be a boss throughout his life, that cash flow will be reduced that you used to earn while assuming the higher office. Retirement needs a proper planning so that one may enjoy life and its benefits after work. Not only people who are at around 50s may need to plan for retirement, the younger generations may start it early too since the world is unleashing many surprises. One may wake up with a notice to leave the job at any time.

The talk is not just enough, what can be done then? You can learn a new trade or a skill during your leave. By so doing new things, you can get experience such that the time you leave office or formal job you can still continue with life skills to earn a decent living. Spend your after-office hours learning something productive. Spending time on television is not investing Don’t spend it sleeping, Gossiping, watching TV!! Same goes for your weekends, make them productive.

Also Read: How lack of transparency & corruption in African sport is affecting youths?

Do not bank on your children’s support or the support of friends or relations on retirement. One can be disappointed by children when they fail to support due to circumstances beyond their control. The economies are changing for worse and for good but who can predict the future and its prospects? Small savings can go a long way if managed properly. The easy way for this retirement plan is to start saving now or the day you get your first pay.

If there is one thing a former CEO or any senior management worker cannot do is living a life of begging. It is not a good character to be known for begging. The way to go is investing properties which can be rented generating money or having properties which can be converted into cash when retired. People with sound mind can invest in shares, which pays good dividends.

Some workers are not good negotiators and planners; they can have financial managers, which can help them manage their money so that it will have good interests. Another way to go is to invest in agriculture by having fruit tree plantations in orchards so that by the time one reaches retirement age, the trees will be producing good and generating good profits.

A tree is a lifetime investment because many generations can benefit from it. Having a fish pond is another idea for a retirement plan. It is easy to manage a fish pond since it does not need hard labour but a good marketing skill. Such investments like fish farming and poultry are manageable to women especially. Besides benefitting financially, fish farming encourages the owner to eat good and healthy food while aging

There are common mistakes which people do and these may include that of retiring while staying at a company house and using a company car. When one is close to retirement, he or she must strive to get own house. Company properties restricts people from doing their own.

Also, this gives people and promotes them from having a dependence syndrome. By the time you wish to retire, make sure that your kids should be above 18 years and self-reliant. If possible, retire and relocate to a small city which does not demand high cost of living. It does not make sense to retire and still live in a big city which you cannot afford or match your income.  

Article by: David Nhau

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