Society
The Retirement Blueprint: How Your Career Choices Shape Your Golden Years
By Priscah Motogwa
“ Where you will sit when you are old, shows where you stood in your youth.”- Yoruba proverb.
This Yoruba proverb offers a profound perspective on the relationship between one’ s past and their future. In the context of retirement, it serves as a powerful reminder that how we manage our careers, finances and life decisions in our younger years will eventually shape the quality and comfort of our later years.
As we become older, the decisions we made in our active working years- particularly with respect to our careers and financial management- become the foundation upon which our retirement rests. It is the case for building our retirements on solid rock rather than on shifting sand.
One of the most significant ways we can prepare for retirement is by ensuring that we prudently manage our resources throughout our working lives. But this isn ' t just about earning a salary; it requires deliberate planning, agility and a keen awareness of our long-term goals. A successful retirement therefore is the outcome of intentional actions taken in our youth and middle age.
The Relationship Between Careers and Retirement
The relationship between one’ s career and retirement planning cannot be overstated. For majority of people, their career is the primary means by which they generate income, save and invest for the future and plan for a comfortable retirement.
But beyond financial accumulation, it is often through our work that we live out our purpose. The work we do, the positions we occupy and the contributions
Retirement is not a one-time event; it’ s a process that requires deliberate action over many years. The earlier you start planning for your future, the more control you will have over the way your retirement unfolds. Through strategic career and financial planning, you ensure that you can live your retirement years with dignity, security and a sense of fulfilment.
we make all have an impact, not only on our personal finances but also on our identity and sense of fulfilment. A career is therefore more than just a job- it ' s the foundation of the lifestyle we build for ourselves and our families.
However, what happens when circumstances change? What happens when unforeseen challenges arise, such as health issues, market shifts or simply a change in personal priorities? These changes require a pivot- a shift from one career trajectory to another. This is where an adaptable approach to career planning becomes invaluable.
The ABZ Planning Framework
Reid Hoffman and Ben Casnocha in their book,“ The Startup of You”, recommend the ABZ planning framework for career adaptability. This framework encourages a trial-and-error approach with a view to enabling one become their best self. As such, it is designed to help you prepare for various scenarios, ensuring that you have options should your career path need to change along the way. The framework is structured as follows:
Plan A: Your Current Occupation
• Plan A represents the focus of your efforts in the present. Whether you are working as a professional, entrepreneur or in any other occupation, Plan A is the work you are doing right now.
• From a financial perspective, your goal should be to leverage this phase of your career to maximize your income,
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