Planning and Preparing for Retirement: (Psycho-Social Adjustment Course for Retiring Executives)

Program Overview:

Retiring Executives find it hard and afraid to adjust to the seemingly inactive nature of retirement. Often they tackle this by “Stumbling” into business which due to lack of foresight, information and practical business training, often collapse or is even ‘still born leading to loss of gratuity and resources. Since money per see will not ensure business success. It is necessary to offer practical training in basic principles of modern business management. This will make the willingness to retire desirable, making self-employment attractive.

 For whom:

Those aspiring to retire into business and those who want to live a successful retirement life.

Learning objectives:

At the end of the programme, participants will be able to;

• maintain and improve their social and economic status after retirement to avoid early disability, death and negative complex;
• take advantage of abounding business opportunities in the environment without getting trapped in large capital-intensive project which can lead to loss of resources and properties;
• take moderate and calculated risks;
• prepare for challenges in private enterprises; and
• enjoy and maintain a sound physical, mental and psychological state of health in the new life of retirement.

 Course outline:

Day 1: Preparing for retirement    

• Pre-retirement-check-list and plan
• Managing life changing situations
• Retirement life in perspective
• Physical and psychological adjustment to retirement

 Day 2: The problems and opportunities in retirement

• Planning for retirement
• Personal budgeting and management of finances

• Demystifying pension information: personal, company and state provision (Pension Reform Act,2004)

• Review of pensions in light of current situation

• Financial planning options / Management

 Day 3: Planning and setting up profitable ventures

• Taking calculated business risk
• Using information for successful planning
• Viable investment opportunities
• Agro-processing, textiles services
• Incentives for business investment in Nigeria
• Developing a business plan
• Health issues
  • Diet and exercises
  • Medical check-up and drugs
  • Case study:

 Methodology: Classroom work presentation and practical: This will involve facilitation with hands on experience to teach the participants in the class, operational process for practical orientation for business ventures that participants can invest in; such as soap making, cat fish farming, insecticide making etc.