In a bid to demystify the complexities of retirement planning, Adetola Adegbayi, founder of Mutual Specialists, has outlined critical steps to achieving a secure retirement despite prevailing economic headwinds, reports ITREALMS.
Adegbayi emphasized the need for personal finance experts to educate the public, rather than product sales agents focused on selling products. She also advocated for financial risk management experts, financial structuring, and education specialists, rather than commissioned sales agents.
One of the key takeaways from Adegbayi's presentation was the importance of adhering to the 30-30-30-10 rule, which entails allocating active life expenses to living expenses, discretionary spending, savings and debt repayment, retirement planning through investment in bonds, stocks, real estate, and cash.
Also, Adegbayi called for a national wealth management initiative, rather than just a national budget, and advocated for calculated risk-taking, rather than greed.
Adegbayi's submissions were supported by industry leaders, including former Commissioner for Insurance Fola Daniel, Chairman STI Leasing Limited Tom Ogboi, Managing Consultant Motodols Consults Mrs. Folashade Onanuga, and Commissioner for Insurance Olusegun Omosehin. They emphasized the importance of early planning and financial prudence in achieving a good retirement.
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