Financial Empowerment in Retirement - Seven Money Skills 

What are the Seven Basic Money Skills that we need to acquire for a peaceful retirement in Nigeria. 

1.   Value money- Learn to value money. Do you know the miracle of compound interest, if when you started work or when you have a baby, you start saving N100 per day ie N3’000 per month in an investment account @10% for 45 years it comes to N31,712,568  but if you wait a year and save for only 44years instead of 45years you will have N28,909,424.82 A loss of N3million for a delay of N36’000 investment. 

2.   Make money – learn how to make money using OPM,-Other peoples money, OPI- Other peoples ideas, OPE – other Peoples Efforts and Expertise. Learn the skill of being your own boss (by starting a business in retirement either a physical business venture or online) How?

·      Look for a hungry niche market- people with a problem

·      Develop or buy a product to solve the problem

·      Become an authority & reference point in that area

·      Learn effective marketing and packaging of your product

·      Market through proven channels and give a valuable bonus to customers

·      Develop an ongoing customer relationship

·      Stand by integrity and transparency in business

·      Repeat the process expanding your product range


Go to for businesses you can start in retirement and for business ideas please go to 

3.   Save money - savings is what you put aside for a  rainy day, save at least 10% of income till you have about three months salary saved, then invest the 10%  that you now put aside. How by employing the 80/20 Principle – 10% to God, 10% to pay yourself and live within the remaining 80% 

4.   Invest money – what one does at the expense of today in order to enjoy tomorrow, learn how to create multiple streams of income by investing in the Four Money Mountains Real state, Portfolio investment, A business enterprise and becoming an Expert in a niche. Build up your profile as a celebrity expert by becoming an Author, Speaker, Consultant, Coach and Trainer 

5.   Manage money – The Rockefeller children were taught specific principles for making money

·      Work for all you get

·      Give 10%

·      Save 10%

·      Live on the rest ie live below your means

·      Stay out of debt

·      Account for every dime

Personal Financial Planning

Below is a simple guide you can follow in managing your finances

·      10%  - Pay your Tithe give to charity

·      10% - invest in your education – readers are leaders

·      15% - long term savings

·      15% - Play account – holidays, treats, gifts, Christmas shopping

·      50% - Necessities and expenses 

6.   Share money – Be a continual channel of blessing plant trees where others can pluck the fruit. The hand of the giver is always higher than the receiver, It is more blessed to give than to receive, 

7.   Sheild and Protect money – learn how to keep personal assets protected. keep most of your assets out of sight through corporations, trusts and foundations.


Most wealthy people have habits - 7 of these has been identified which will help you become financially empowered as you plan for your retirement in Nigeria

·      They pay themselves first – save every month

·      Avoid debt

·      Shop around before buying

·      Delay gratification

·      Have a good maintenance culture

·      Have a basic understanding of Investment opportunities

·      Take time to plan, research and invest resources and income systematically 

May God help us to adopt these seven money skills into our lifestyle


Article by Bibi Bunmi Apampa, Africa's No1 Retirement Coach and wealth strategist. A high-performance business coach she can be reached at