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How to Prepare Towards Retirement and Retire Young



how to retire young

Entrepreneurs don’t usually like to think about pensions. The cost of pension must not be underestimated. Many workers’ dream is to retire young.

For young entrepreneurs, the subject is a combination of too far away, too complex and too boring, and too depressing. People don’t like reality. The reality is retirement is imminent.

When determining how much money you need to retire, you must consider that you might live for 20, 25 or even 30 years after you stop working.

Read also: The one secret to success that you never knew

Depending on your age, the question you think about a lot is if pension is imminent and how much money do you need to retire?

However research by the Economist shows that the best annuity rate at the moment in the UK is just under 5.2% which means you would need a pot of £385,000 to afford this. But on the other hand, that is a flat £20,000 which does not account for inflation; if prices rise at 3% a year, the value of that pension will halve by your 90th birthday. (The cedi amount won’t be the same but it is in the ballpark)

This means that one problem is hard to avoid; the annuity rate is risk-free at least when it is inflation-linked. If you think you can do better, then you have to take risk. And to do a lot better, you have to take a lot of risk.

Read also: The easiest way to save money and become richer

These are very big sums and explain why private sector employers have been dropping final-salary pension plans. However to work out the true cost, you have to discount that future liability by some rate to work out how much you and the employee have to contribute now.

Note that building up a pension pot is just as important as taking an income. Pensions will be paid by a combination of employer/employee contributions and investment returns. So to work out the right level of contributions, calculate the returns.

By Rebecca Essilfie

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How Ghana’s Government Can Create Employment from the City’s Filth



Keep Ghana clean sesawosuban

The filth engulfing the city of Accra is one that many governments and private organizations have tried in varying methods and dimensions to address. We as citizens have seen successes in some parts of the country. Other parts of the Ghana’s cities and towns did not respond to the numerous ‘Keep Ghana Clean’ campaigns, and yet, some sights in the capital have even worsened despite the campaigns.

Who is to blame? The government, metropolitan assemblies, market women, ‘trotro’ drivers and other road users, pedestrians, and the list goes on. We can continue to blame other parties and people but ourselves. But if we are truthful to ourselves, we would realize that each one of us is part of the problem.

We would also agree that the government of the day has a bigger responsibility than any other stakeholder. From legislation to nationwide campaigns, the government is in better position than any other stakeholder to fight the growing filth in Ghana.

One way in which government can solve Ghana’s problem with indiscriminate disposal of refuse and city loitering is by tackling it from an economic dimension: drastically reduce the filth in our streets and corners and creating employment through the process. We have seen governments outsource part of this duty to keep Ghana clean to private business establishments. The public has had its fair say in whether or not these rubbish collecting businesses have done a good job. My job here is not to extend that debate. However, if governments can take the primary responsibility of keeping Ghana clean at all times, we are sure to see a greater effect than we have witnessed. Specific agencies must be set up or attached to existing ministries, departments and agencies, with the sole of aim of tackling Ghana’s ever growing rubbish covering.

Whilst we complain about unemployment, we have a great opportunity to train a section of the workforce to take up jobs in waste disposal and sanitation. By creating employment in this area, we are not only empowering the population economically, we are also keeping our cities and towns clean, and preventing health outbreaks such as cholera.

As individuals, we also owe ourselves and the country a duty to keep Ghana clean.  Play your part and change your habit towards waste disposal, wherever you find yourself. Health is wealth.

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President Akufo-Addo Launches National Sanitation Campaign. A Worthy Use of Our Money?



President Akufo Addo national sanitation campaign

A national sanitation campaign has been launched by the President Nana Akufo-Addo to address the growing sanitation problem in towns and cities in Ghana. For years, country has struggled to implement a comprehensive program to keep Ghana clean. Some efforts have yielded good results in the past, only for the streets to return to its filthy state in a matter of months, sometimes weeks.

The campaign which was launched on Monday, November 13 at the banquet hall,  is aimed at addressing the poor sanitation issues. It is expected to combine the use of automated sweepers, a national sanitation brigade (equivalent to the town council officers decades ago) and other methods not seen in recent sanitation campaigns.

Read: Health is money: diseases that cost a fortune

President Akufo Addo called for Accra to be the cleanest city in Africa, he walked the path of taking the first responsibility, that is dealing with areas closest to him by noting that “we will commence with the Government business district, which covers the Presidency, Parliament House, the Ministries, and the Courts”. Charity begins at home, indeed. He added “we will focus on the ceremonial and arterial roads going in and out of the city, to ensure that they are regularly cleaned up.”

Many social commentators are likely to jump onto microphones to criticize the initiative. Is it good use of our funds? The answer to this depends on your view on sanitation. It depends on the importance you attach to sanitation. By that yardstick, each one will be able to determine whether the government’s initiative and the accompanying spending is justified or not.

Outbreak of cholera and other preventable diseases are often caused by poor sanitation. The cost of dealing with these situations and their consequences often far outweighs attempts at preventing them.

The creation of jobs for officers involved in the sanitation program is another way to look at the picture. Many Ghanaians look up to governments to create jobs for them, or at least, create opportunities for jobs to spring up. The national sanitation program is one that is sure to absorb many economically active members of the population. The effects of such a move are so evident that I should not bother to explain.

Read: Health is money: breast cancer could wipe your bank accounts

Tourism grows with a clean environment as well as a stable and sound atmosphere. Ghana prides itself of being peaceful, an attribute that positively impacts tourism, yet the industry isn’t one that the country can boast of as a major income driver. Sanitation is the other factor that can complement the peaceful and loving nature of Ghanaians, to drive tourism. Again, the impact of a booming tourism includes the creation of jobs, foreign exchange, just to mention a few.

We can go on and on, to look at Ghana’s national sanitation program, analyzing whether it is what the people and the country need, and whether it good use of funds and time. The simple way to determine this is how important sanitation is to you and the nation as a whole.

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28 Quotes That Inspire Successful People through Their Careers and Businesses.



successful people and inspirational quotes

If you find yourself giving up in the middle of your hustle, sometimes all it takes is a few inspirational words to re-energize you. Here are a few quotes from great minds to inspire you and get you through the rest of your working hours.

  1. “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. “Steve Jobs.


  1. “When one door of happiness closes, another opens, but often we look so long at the closed door that we do not see the one that has been opened for us. “Helen Keller.


  1. “Instead of wondering when your next vacation is, you ought to set up a life you don’t need to escape from. “Seth Godin.


  1. “Someone once told me that ‘time’ is a predator that stalks us all our lives. But I rather believe that time is a companion who goes with us on the journey and reminds us to cherish every moment because it will never come again.” Jean-Luc Picard.


  1. “Happiness is an attitude. We either make ourselves miserable, or happy and strong. The amount of work is the same. “Carlos Castaneda.


  1. “”Don’t say you don’t have enough time. You have exactly the same number of hours per day that were given to Helen Keller, Pasteur, Michaelangelo, Mother Teresea, Leonardo da Vinci, Thomas Jefferson, and Albert Einstein.” — H. Jackson Brown Jr.


  1. You have brains in your head. You have feet in your shoes. You can steer yourself, any direction you choose.” Seuss.


  1. “You miss 100 percent of the shots you don’t take.”Wayne Gretzky.


  1. “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.”Charles Darwin.


  1. “Opportunity is missed by most people because it is dressed in overalls and looks like work.” Thomas Edison.


  1. “Do or do not. There is no try.”


  1. “Whatever the mind of man can conceive and believe, it can achieve. Thoughts are things! And powerful things at that, when mixed with definiteness of purpose, and burning desire, can be translated into riches.”Napoleon Hill.


  1. “You are not your resume, you are your work.” Seth Godin.


  1. “Far and away the best prize that life offers is the chance to work hard at work worth doing.”Theodore Roosevelt.


  1. “When writing the story of your life, don’t let anyone else hold the pen.” Harley Davidson“.


  1. “Even if you are on the right track, you’ll get run over if you just sit there.” Will Rogers.


  1. “Yesterday’s home runs don’t win today’s games.”Babe Ruth.


  1. “Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude.” Thomas Jefferson.


  1. “If you work just for money, you’ll never make it, but if you love what you’re doing and you always put the customer first, success will be yours.” Ray Kroc.


  1. “People inspire you or they drain you – pick them wisely.” Hans F. Hansen.


  1. A professional is someone who can do his best work when he doesn’t feel like it.” Alistair Cook.


  1. “When you change your thoughts, you change your world. “Norman Vincent Peale.


  1. “Happiness is not something you postpone for the future; it is something you design for the present.” Jim Rohn.


  1. “I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.” Michael Jordan.


  1. “There are two primary choices in life: to accept conditions as they exist, or accept the responsibility for changing them.” Denis Waitley.


  1. “Whether you think you can or whether you think you can’t, you’re right!” Henry Ford.


  1. “A man is but the product of his thoughts. What he thinks, he becomes. “Mahatma Gandhi.


  1. “The Pessimist complains about the wind. The optimist expects it to change. The leader adjusts the sails. “John Maxwell.


Let these quotes inspire you and remember to keep going when the going gets tough.

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