The founder, Mutual Specialists, Adetola Adegbayi has urged workers to retire well and be happy in retirement, there should be personal finance experts to effectively educate the public, as against insurance and pension product sales agents who are keen on just selling products.
Adegbayi, who was the executive director of Leadway Assurance Company Limited, before her retirement, whilst speaking on the theme: ‘Attaining Good Retirement Amid Economic Headwinds’ at Inspenonline Retirement Summit in Ikeja, Lagos recently shared practical steps that should be taken to attain good retirement.
She also noted that there should be financial risk management experts and not promoters of pseudo gambling while craving financial structuring/engineering and not financial swindling.
Other solutions she provided are: “Financial education specialists and not just commissioned sales agents. Adherence to 30-30-30-10 rule, which entails active life(Living expenses; discretionary spending; savings and debts repayment, while retirement plan(Bonds; stock & shock; real estate/property and cash).”
She submitted that there should be a national wealth management initiative and not just a national budget and that there should be calculated risk taking and not greed, whereby those who want to get taken.
Adetola Adegbayi’s submissions were supported by the former Commissioner for Insurance, Fola Daniel; who was the chairman of the event; chairman STI Leasing Limited, Tom Ogboi; managing consultant, Motodols Consults, Folashade Onanuga; Commissioner for Insurance, Olusegun Omosehin and many other dignitaries, who advocated early planning and financial prudence as good tools for good retirement.
