Nigerians have been advised to embrace diversified investment strategies to ensure a financially secure and comfortable retirement.
Ms. Adetola Adegbayi, Chief Executive Officer of Mutual Specialists and an expert in insurance and financial planning, gave the advice on Wednesday at the 2025 Inspenonline Retirement Summit held in Lagos. The event was themed “Attaining Good Retirement Amid Economic Headwinds.”
She warned that economic instability could undermine pension value, hence the importance of cultivating multiple income streams early in one’s career.
“Retirement is a journey that requires delayed gratification,” she said. “During your active years, you should generate income through various investment avenues to build savings and achieve financial security.”
Adegbayi encouraged investments in sectors such as forestry and tourism, while also urging individuals not to shy away from risk, but to manage it wisely.
She advised: “Your budget should allocate no more than 30% to living expenses, another 30% to discretionary spending, and 30% to savings. The remaining 10% should be dedicated to clearing capital debt.”
Also speaking at the summit, Mr. Fola Daniel, former Commissioner for Insurance, stressed that smart financial practices were essential in an era of inflation and market volatility.
“The post-retirement phase is not a time for speculative ventures. Avoid emotionally driven financial decisions and plan for healthcare early,” he said.
Mr. Tom Ogboi, Chairman of STI Leasing Ltd, echoed similar sentiments, urging Nigerians to begin retirement planning as early as possible.
“A long-term investment horizon and a diversified portfolio are key. Inflation erodes pension value, but smart investments can generate meaningful returns,” he said.
Mrs. Folashade Onanuga, Managing Consultant at Motodols Consults, called on organisations to provide pre-retirement training for employees to facilitate smoother transitions.
“Living below your means while working allows for better financial planning. And your children should not be seen as your retirement plan,” she added.
