YOU WILL STILL BE WORKING FOR MONEY AT 65, UNLESS…

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A research/survey was carried in the most powerful nation on earth, 100 people were profiled and studied from the age of 25 when they started working until they retired at 65. The results were surprising, alarming and instructive.

After 40years of working and then retiring, the following statistics were discovered:

54% of them were still DEPENDENT – this simply meant that at retirement, they still needed the help of the government to subsist, they needed their children, church, mosque, charity, etc to sustain them from day to day. Unbelievable, right? What do you think the percentage is in Nigeria? #okBye

24% of them were STILL WORKING; invariably, they retired as principals and HAD to take up a job as a headmaster, or they retired from a company and regularly go back to ask their former co-workers for small contracts to supply toiletries, etc so they can sustain themselves. It means they retired after 35-40 years of working for the government or a company and yet they were not able to sustain themselves in retirement; retired but not tired.

16% of them were DEAD – sad, right? Resulting from depression and disillusionment, inability to afford medical care, food and nursing homes, etc. It is a pitiable situation. Coming to Nigeria, what do you think the situation would be like with th incessant looting of the pension fund and the queuing up of elderly men and woman endlessly? Travelling from their states to Abuja or their state capitals? The picture in Nigeria is gross, they actually die on the queues. Experts have said that the pension system of America is bankrupt, that all of the world’s biggest stock exchanges can’t pay for the pension of America.

5% of them were INDEPENDENT. This simply means that at the age of 65, they didn’t need to depend on government or their families but were still commanding incomes of at least $35,000 per annum. They weren’t financially free but they were independent.

1% was FREE, that means 1 in 100 was financially free. They had enough passive income to cover all of their living expenses; they did not have to work ever again to generate the income they need to live their preferred kind of life style for the rest of their life. In simple terms, for example, they were able to create a system that ensured that if the spent $5000 per month on expenses, this system generates $7000 a month.

What does this portend for us? For our lives? What lessons can we draw from this statistics gotten from a first world nation? If just 1 person out of 100 people in the USA is financially free at 65 years, what do you think is the ratio in our dear beloved Nigeria?

If we leave it to the odds of life, we can be sure that if the odds do not favor most people in the USA, do you think it would suddenly randomly favor us in Nigeria? I think not! Its only weeds that grow without wetting, we will be wise to wake up and begin to take financial education and responsibility for our lives.

Financial intelligence is not taught in schools, in all the 15-20 years we spend in school, quite unfortunately, the most important life-lesson to learn, is not taught. Yet we pride school very highly. Interestingly, mechanic apprentices learn for 3-5 years and celebrate their “freedom”, to go start up their workshops, but “educated” folk, go to university colleges of 3-9 years and come out to get into the bondage of financial security. The only security that really exists, we need to realize, in in the grave.

Financial intelligence is key. I am on the journey, and I would ask you to quickly think and resolve to take your life back.

www.a2wglobal.com/nic4bags

 

Original Post by: Yoma Victor

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