There is a day in the future we are looking forward to with great anticipation and probable some anxiety: OUR RETIREMENT DAY. Managing our working lives and helping other workers to live happy lives during their working lives by assisting them guard against the effects of any unforeseen contingencies (retirement, ill-health or death) is essential.

In retirement the uncertainty about the future is likely to make us a bit apprehensive. But we can reduce our fear by taking a realistic look at how well we are preparing for retirement.

Retirement of release from work brings a departure from work and affects us psychologically and economically. Even though it may put money into our hands, it creates problems like:

  • Finding affordable place to live;
  • Meeting medical expenses and managing the finances made available to us;
  • Loss of social contact, and
  • Isolation from the occupation world.

All these can contribute to the retired person's withdrawal from social contact to the feeling that he or she is no longer useful or needed. For some people, one influential blow to self-esteem is the reality of job loss and to others, retirement can be a stark reminder that society considers them as too old or unfit to work. This substantially drops one's self-worth.

We could be helpful in our local church, on the church's trustee, strategic and financial committee, in the man's ministry, choir on  Sunday School: local or district assembly or fully into politics. On the other hand, we may take up a job with higher responsibility, remuneration and status. If we have not already done so, this offers an opportunity to write our will.

Our circle of friends will reduce in numbers as we realize that we do not have an address, the things that give us status and confidence may no more be there: a decent home, car, decent clothes, money for kids' tuition and shopping, mobile phone etc.

The account so far is an overview of separation from the world of work and its impact on men and women. Now is the time we should consider how to prepare for and manage retirement.

Major Events in Working Life Leading to Retirement

Between The Ages 18-30 Years

This is the period of education and acquisition of knowledge and skill and also the period in which we are free from retirement anxieties and the time for "good living" as much as  one's income will permit. In this period we are expected to make savings, plan our development and career goals and acquire household durables and consider marriage.

Between The Ages 31-35 Years

This period is in the middle of the retirement age period and the awareness that decent retirement requires resources which must be generated now. This is the period we need to reduce our high expenditure associated with "good time" and save from salary, travel per diem, bonuses, extra income earned from activities, investing in securities, explore our potential, advance our studies, and join professional bodies and social clubs.

Wee need to consider these questions:

  • Where will I live after retirement?
  • How will I keep healthy after retirement?
  • What will I do to keep my mind alert and active?
  • How will I spend my time after retirement?

Actual planning for retirement begins at these ages.

Between The Ages 36-50 Years

This is the most difficult period. During this period, investments undertaken threaten to swallow up all the incomes one can earn e.g housing; childrens education verses physical investments.

Between The Ages 51-60 Years

This last decade before retirement must be used to put into final shape, all the arrangements that have been put in place to supplement the retirement income.

  • Physical investment undertaken in the past will yield income e.g. house rent, if not occupied by self, income from farms and other projects.
  • Business investment

Transition From Working Life to Retirement

As we get in (employment) so a day for parting the way (retirement/separation) will come. We can reduce our fears by taking a realistic look at how well we are planning our retirement. Whether we plan to retire early or we expect to keep working to age 60, we will probably need substantial savings to maintain a comfortable lifestyle. The earlier we plan to retire the more money we will need to accumulate. We will also need to determine the lifestyle we hope to lead. Regular investment of small amounts of money is an excellent way of saving.

Make Retirement Saving A Top Priority

No matter what our current salary and age, retirement savings should be a top budget priority. If we are young, in our twenties for example, saving early mean we can make smaller contributions and let the money grow for longer period. The longer we allow our retirement saving to grow the more money we will have when we decide to retire. Ofcourse, if we are already in our thirties, forties, it is not too late. We will simply need to make larger contributions to catch up.

Post-Retirement Work

Retirement does not automatically force everybody to leave active employment. Those physically and mentally alert can work for more years. Employment after retirement is Biblical: Read Numbers 8:23-26

Others may not be able to do so because they are weak or over-ages, impacted by genetic traits, reduction in their real age or due to ill-health.


The success of the transition from working life to retirement depends, in part, on the extend the retiree can adjust his or her working life expenditure to the level that the retirement income can support. Trust in the Lord. Don't under-rate yourself.


Written by: S. R. Aseidu (SSNIT)
Shared by: Leroy D. Fleming (NASSCORP)


Last modified on Monday, 15 October 2018

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