General Secretary of the National Pensioners Association, Stephen Boakye, has advocated for young people to prioritize financial literacy for a secure retirement.
He emphasizes the challenges of retirement and warns of regrettable post-retirement scenarios due to inadequate preparation.
Addressing the MIG Business Forum’s Volume 2 event organized by the Maxwell Investment Group on April 25, 2024, Mr Boakye likens renting during retirement to facing a firing squad, highlighting the stressful dynamics between landlords and tenants at that stage of life.
“Don’t rent a room during your pension days; it will kill you quickly; renting as a retiree is like facing the firing squad because your landlord will be harassing you,” he said.
Mr Boakye lamented the prospect of individuals working for decades only to endure hardship in their retirement years.
He stressed the importance of strategic planning from a young age, urging youth to not only save but also invest wisely for their future financial security.
“Pension has to be enjoyed; you can’t work for over sixty years and come back to suffer; no, that’s not how it is supposed to be.
“Learn how to plan your life as a youth. You will earn money, so take the time to enjoy it, but plan well,” he added.
“So, this program provides us with the opportunities to discuss issues regarding financial literacy and retirement planning.”
“This program provides us with opportunities to discuss financial literacy and retirement planning,” Dr. Amewu noted, stressing the importance of initiatives like the MIG Business Forum in raising awareness and empowering individuals to make informed financial decisions, contributing to overall economic growth and stability.
Dr. Maxwell Ampong, CEO of Maxwell Investment Group, reflects on personal growth and the significance of self-reflection.
He expressed a desire to meet his future self to address missed opportunities and regrets, emphasizing the importance of continuous personal development.
“If I could meet myself 20 years from now to ask myself questions, I would be very sure that there are a lot of things I might not have done. And If I could advise myself backwards in the past 20 years, I would have been a better person than now, and that is what we are trying to do right now,” Dr. Ampong stated.
