What will be the results if we don't plan well for the old age ?

[Sotherefore]

Most developed countries makes planning for retirement compulsory because the government made all the necessary provision to make sure that everyone who is working pays their tax , This is applicable to private and government workers and I consider this to be the best because with tax payment you are likely to receive pension after retirement .

However in most African countries provision for private private workers to pay their tax is not available and many people are always interested to work for the government since only the government institute will enable people to receive pension after retirement..

Because of this a lot of people who do not have an opportunity to work for the government are looking straight forward on how they can establish a business , invest in real estate or any other profitable ventures so they can secure their old age. Good numbers of people are likely to succeed in their journey toward having a better life and also the required money they need to invest and makes all arrangement for a comfortable old age .

Some people in the other hand who do not work for the government or start a profitable business and those who has not made adequate arrangement towards having a comfortable old age might not have anything to generate income from at old age , what of people like this, what will likely be the results does it really mean that they won't have what to eat and house to live at old age ?

 

[Bard Racheal]

It is a very honorable position to work for the government.

In a country as Nigeria,there has been constant hiccups in the payment of pensions and gratuities.

So many people has worked their ass off,up until they turn grey, only to get retired to be paid peanuts or nothing at all to survive with.

This is one of the reasons why most of the youths now are not having interest at all to working for the government.
Because,they think that when they get old,they do not want to suffer like their old parents or many other retirees.

Even as we speak,there are many old retirees suffering pains and one sickness or the other as a result of not being well taken care of by the government,of whom they were servants to.

However,some of this government workers or retirees did not or are not using their opportunity to lay a good bed for themselves.
It would had been much better if they tried to save money or erect some assets with their wages while they were still working, so that they can have some thing tangible to rely on when they get aged.

In conclusion;The government also are not helping matters when it comes to early payment of their workers. This has plunged. many into borrowing and taking loans,that at the end they would be struggling to pay up with their gratuities and pension when they are already old.

 

[Augusta]

This is why it is always good to start your retirement plan as early as possible to avoid regretting it when you get to old age. it can be devastating that you might not just be fighting loneliness at old age but also poverty too. So why it may be it is good to have some financial plans in place to aid and sustain us during the retirement period.i know some people believe that their children will always help. Well, I wouldn't dispute this but this should be a secondary option because sometimes the children might not be buoyant enough to cater for all your needs


The sure thing is to first make money either through working or doing business

Then you invest in different things like shares, stock, mutual funds or other means that is legit that one can get interest at the end of the day.

Then you can think of buying a home or getting a loan to build a house to pay back later.

Another good avenue to sustain self before retirement is to have some money in fixed account to yield interest for the future

Doing all of these will help one retirement in a better way than otherwise.

 

[sincerem]

Failure to plan ahead of old age has so many implications at the later stages of Life, I wouldn't spend such kind of time during my young age as I am now, and using it to run around from different beer parlour to another without proper savings, and reasonable investment for the future. Saving money gradually as you're a worker will save the least for you during old age, and make you never to suffer. Lots of people made this kind of mistake of not saving money, not having any investment during their working years, which they're suffering from today, eating food which isn't what their system needs, suffering from one health related illness to another due to lack of proper care caused by lack of money.

Hsd it been they made reasonable savings during their old age, or investment the sufferings couldn't have been much, through the investment you can simply go for proper medicals when needed and not feeling skeptic when s health issue hits you unexpectedly due to lack of money to treat it. I think with the experiences we've learned from one day millionaires who spend money carelessly during their working years should teach us lesson to always keep reserve earnings and make wise investments for the purpose of the future.

 

[Alexandoy]

I have a colleague in the office who did not prepare for his retirement because he has 7 children who are all adults and earning in their job. When my colleague retired he got a small pension but it was augmented by the allowance that was given by some of his children. And it came to pass that his children got married. That stopped the giving of allowance and it is understandable. Now that colleague is messaging us for financial aid because he has no money of his own anymore. His wife has no job as well and they are at the mercy of friends who are donating cash for his needs like food and maintenance medication. It is pathetic to be in that situation and I really pity him. I don't think there is a solution to his problem that maybe he would just have to endure the financial shortage until his dying day.

 

[Caramelle]

If we don't plan well for our old age, we will likely be at the mercy of other people and the government. We will be forced to work at whatever job or business we can still do at that age. Some will resort to begging in the streets, or worse, living in the streets. In other words, there will be no such thing as retirement because we still have to work. I wouldn't even depend on pension because we never really know what will happen in the future. While we still can, we have to build nest eggs for ourselves. We have to plan to be self-sufficient in case external provisions like pensions stop coming.

This pandemic taught me a lot of lessons about self-sufficiency in food and sustenance. In the early months of the pandemic, people have to endure the long lines in the supermarket to buy provisions for themselves. Rich or poor, we had to line up for about three hours to buy food. Imagine if you have your own farm from which to harvest your food requirements? It doesn't even have to be a big farm to be truly useful. Buying a small farm lot where I can plant vegetables and crops is on my list of preparations for old age.​

 

[Skysaint]

If you don't plan for your retirement when you still got the chance to do that then you will have to live with the consequences later on in life. This is because the retirement period isn't always funny and for most jobs here in my country, their pension isn't always enough to even take care of themselves let alone taking care of another person or their family.
Those who really suffer the effect of the retirement period are those who still got responsibilities to shoulder even after their retirement has taken into effect; I mean those who retired early as I believe they still have much responsibilities such as taking care of his or her family, clothing them, feeding them, other unforseen circumstances and the rest. So not planning for your retirement in this case will be quite disastrous for anyone.
My uncle who's working together with my dad was actually retired even before his retirement year and it came as a surprise to him and us as we never expected it to come that soon. He didn't make plans for it and he wasted almost three years of his life recovering from the incident and standing back up. So employees shouldn't take this as a joke, only those who have been in this position will tell you what it feels like.

 

[Kingsley]

This exactly is why we have somany helpless old people living around us today in the world, many of them when they were very young never had any plan whatsoever for there retirement age, they taught live will always remain the way it has always been when they were young. So they lived life gallivaning around the city. And to them it seems retirement came all of a sudden which is not true. They were busy masquerading the whole time and living in a fool's paradise. We all know no one eats his or her cake and have it.

It as young champs we should learn from the errors of those class of people and try to work very hard and not try to look for easy ways out. So that when life comes back to demand from us we will be able to weather the storms of life.

What one can do now is try as much as possible to invest on items that has a very long term nature. This will help us when we become old and it will help us not to become a burden upon others mostly our children. Those that failed to plan all planned to fail.

 

[Good-Guy]

Planning is one of the most crucial things in life and when you plan for things in a better way, you tend to manage difficult times in a much better way. Almost all the people suffer from hardships in their life and preparing well for those hard times is the key to success. Many people believe that hardships in life are usually associated with a lack of money and financial problems. While it is true that money can play a big role, but money is certainly not every thing in life. Since we are talking about money here, we will discuss about it, though.

People who do not plan well for their old age usually end up in big trouble when their children leave them alone and I think that this is a growing problem. They have nothing left and they need money to survive. I have seen many old folks whose partner left them and they had no money. Their end was quite disheartening and in many cases they died alone. So having money is important, especially if you are living in a country where the government does absolutely nothing to help the elderly people. You cannot work at that age. However, still many old people work in my country because they never planned for their future when they were young.

 

[Kendy]

The results that emanates if we do not plan for a old age or retirement period is that we will be in penury because lack of planning keeps one in a state of; confusion, depression, and dilemma. The essence of planning should never be undervalued or underestimated. For every human being, planning is one of the basic necessities or keys to succeeding and achieving our objectives or goals. There is nothing that can be achieved successfully without the roots of planning. Planning in itself can be likened to a root of a tree and the results would be the nature of the leaves and obviously the type of fruits it bears. When planning is not done effectively, the nature of the fruits would be unattractive but if the planning is laid on a solid foundation, then the fruits would be appealing and eye-catching. The essence of planning is to guide us in line with our set objectives and goals. If we fail to plan towards our retirement or old age, then we will have ourselves to blame. It is not good to retire with the mindset that people will have pity on you and provide for all your needs. Our needs and wants are unlimited and nobody can satisfy all of them!

 

[Rachael]

I think in anything we do in life, planning is one of the most essential. Even people who are so wealthy still plan their lives and try to work according to their schedules. There is no magic in it, if you fail to plan, it means you prepare to fail. Planning is synonymous to setting your life and taking the mantle in your hands. It is quite pitiful how some people leave their lives to chance, they believe that everything must be positioned by some supernatural elements and they indirectly wait for manna to fall from above.

For instance, in my region, it is very possible to see a man with complete functioning body parts begging on the road and causing a major traffic. He takes the act of begging as his daily job and on the one hand, you would see a man who has disability with his legs or hands still striving to make something out of life, he could either be seen as a cobbler or a tailor. This illustration typically means that there is no excuse to negligence. The way we decide to plan our lives is just the way it would come to reality before our very eyes.

 

[eldavis]

I seriously pray we do not find ourselves in a situation where we have no investments to our name or even a business working for us, or a solid plan to back ourselves up. I have come across some elderly persons who are seriously struggling cause they failed to map out a plan for themselves. I have even seen some who actually made plans but it things did not go as planned. It's best to have backup plans and investments working for us.

 

[btaliat]

Failure to plan is plan to fail. We don't need to even wait till the old time before we decide to plan for our old ages. There is no excuse for not planning ahead our old ages even if the government doesn't give us much opportunity to plan for the old age.

An old person that fails to plan for old age will end up living miserable lives. I don't really pity some people when they are old but they find it difficult to fend for themselves but rather depend on people to get some basic thujgs.

How can we plan for our old age? This is a vital answer that's begging for an answer. We can do them by having much saving while we are working. Most people do spend all their salary without even think of the future. They are always of the opinions that when we get to the bridge, we shall cross it.

Not only saving will guarantee our comfortability during the old age but investment. We can invest in some schemes that we are very sure of its return. This will make us to have much to ourselves while and when grow old. Most people that are enjoying good lives in their old ages are doing so because they have laboured for it.

 

[Mika]

If you do not plan well for your old age, you will live a miserable life. You might not have funds to feed yourself well, you might not have enough money to pay for your medical bills, and you might not even be able to pay for your basic necessities. There are a lot of ways to prepare for old age. For example, you need to work in a company that offers a pension plan and other retirement benefits. You need to start saving for your retirement funds. Another way to prepare for your old age is by buying a term life insurance policy. Investment also helps as you can receive devidends.

 

[Chibson]

Planning for old age or retirement is one of the top things that should be at the back of your mind because you will not be young forever and and that time you will not be able to work effectively and make money.

Many people have neglected this at a certain stage of their life they begin to regret why they have not really saved or planned for their old age and retirement. it is actually one of the major things that makes a lot of people to die very young and at the same time if you observe people that are very happy in their retirement or old age, you will observe that they have planned very well for it.

Anyone who really wants to live long must try as much as possible to invest in properties and a lot of other things because a time will come in your life whereby your investment will begin to speak for you and you will use it to take care of yourself.

It is important you try as much as possible to invest in yourself and also invest in properties and your children and of course people around you. Investing in properties alone will not guarantee you happy life but investing in humans and at the same time yourself.

 

[Good-Guy]

Becoming old is inevitable and you will become old at some point in your life. The best thing would be to save enough money for your life in later stage and this can be done if you manage your money properly.

If You Do Not Save Money, You Will face Financial Problems Later

There are so many people in my country who tend to spend a lots of money and they usually have a really hard time saving money due to their extravagant lifestyle. These people have a lots of money. However, I have also seen many elderly people working in my country. The economy of my country is poor and in here people do not have enough purchasing power at all. Saving money can provide you long-term benefits.

Avoiding Saving Money Could Lead To Financial Dependence

If you do not save money or make money in your young age, you will most likely become dependent on other people sooner. This is what I have personally witnessed myself. Adopting an extravagant lifestyle is never a great idea. I am not saying that you must become stingy, but you must emphasize a lot on saving money as well. If you do not save enough money, you will become dependent on other people at an older age.

 

[blessingc]

Retirement planning or aging plans are important if you don't want to die of starvation, stress, without a roof over your head or with illness.
Its really easy to live today, enjoy the present without thinking of the future, but there are consequences involved.

You can't live in happiness and peace when you didn't prepare to. Not preparing to means not planning a good future, not planning what you'll do with your life how to keep up when you are old and have stopped working. Off course for those who have children, you believe in your children that they will support you and won't leave starving.
Nevertheless, you need to plan, there can be a situation where they far away or are occupied, besides it mightn't be convinient for them sometimes, their spouse and children might need that attention, that money.

Make sure you have a retirement budget, you don't keep debt for the future, pay your debt before retirement, make your home more convenient and comfortable for you, even at old age. Save alot more than you spend so you can enjoy your hard earned money at old age. Its sweeter to eat money you work hard for.
Be socially active and widen your friend cycle, so you don't die lonely.

 

[Ajebo25]

When it comes ti planing this is one serious thing which everybody should take crucial and not joke with it without planning we will be nothing which means it is very good to plann well for the future this topic brings me to an incident which happened some years back.

I remembered there was a man who always sleeping around in uncompleted building near my home I have been watching him for a while then I decided to ask the people around that estate who knew him and I was made to understand that he WaS once a militatry man who served 35 years and retired sucsefully but I was still suprise d at why this man doesn't have a house now and I was told due to his lack of planning he spent all his salary lavishly when he was still in the army thinking there was still time for him to build the house timeflies as 35 years clocked and he was retired and now stranded I learned a very good lesson from that man's problem and I started adjusting I know am still young but that doesn't mean I shouldn't plan for my future I need to plan what I will do to earn a living i n the years to come DJ to the economy.