5 Retirement Mistakes Nigerians Make (And How to Avoid Them)
NBS: 70% of Nigerians aged 55+ lack adequate savings. Here are the 5 biggest mistakes.
1. Starting Too Late
Age 25: ₦5,000/month → ₦100M by 60.
Age 45: ₦50,000/month needed.
2. Underestimating Inflation
18% inflation doubles costs every 4 years. Plan for ₦2.5M/month in today’s terms.
3. Relying Only on Pension
Only 10% have formal coverage. Build private plans.
4. Ignoring Healthcare
Post-60: ₦1.5M/year. Add health riders to RSA.
5. No Diversification
Diversified: 25% return. Undiversified: 18% (NGX 2024).
Avoid these with a free retirement audit.
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