Let’s assume you were young and can’t really say or be bothered about how much your school fees were in the primary school but can you recall how much you paid as school fees while in the secondary school? You do, right? Of course, the expenses of your higher education are all at your finger tips. Can you do a little arithmetic here by adding the much you can recall of the fees you paid at the secondary school level with those of your higher education? That’s what I call, back of the envelop calculation. I mean, you don’t need to stress yourself to do this but just as you can conveniently recall ok? What figure did you finally arrive at?
If you are a parent; can you compare the sum total of your just concluded arithmetic with what you are paying for your kids’ education today? What can you say? I’m lean academically however, when I did my own computation, I found that the expenses of all my schooling from day one till now was far below how much I paid for my child in the kindergarten for just one term. I can hear someone trying to remind me of naira devaluation as well as cost of goods and services with the fact that
I just can’t compare my days with what obtains these days; I agree hence my conclusion that, children education is and should be a major consideration particularly to those who have five or fewer years more of active work life before retirement. This should be topmost in the scale of preference of a ‘soon to retire’. Home ownership is another but this we shall be considering at another time.
Facts about Children Education:
Houses that are built today, will soon become a sell off by children not built or properly trained goes a Yoruba saying hence, children education and training are indeed top priorities therefore, as you envision and march gallantly toward retirement, take the time to consider your children education so that you and your finances would find rest when the need becomes necessary for even the holy books admonish that you train your child so as to give you rest. Why do you need to train your children?
Modern Trends
We live in the jet age where changes and activities take place at the speed of light; we live in a world that has now been reduced to a mere village because of technological interconnectivity whereby the occurrences in a part of the world has direct implication on others regardless of distance all in a jiffy; we live in a world where competition has got no regards for boundaries, tribes or creed. Hello, if you fail to position your children well ahead for the challenges of our times; you might just be preparing such kids for others to rule over. The definition of slavery in our world is changing as I see future servants appearing in neat jackets as against rags; I see the slaves of tomorrow in exotic cars and even live in highbrow areas of some sort. You know why? It is because global wealth is increasing at such a speed where the rich men of today, when compared to what will later be would look like poor men. Listen, the next phase of global competition is a thing of the mind beyond today’s comprehension. Are your kids equipped? It is your responsibilities and should be part of your retirement plans. Gone are the days when first degree was enough, the days are over when just one professional certificate can suffice; the days are coming and the times are here when multiple qualifications and experiences in varied fields of human endeavours would be the prerequisites for survival. Are your kids prepared? Why do you need to train your kids?
Let me warn you here. Don’t fall for the fallacy that richest men in our world today either didn’t go to school or are drop outs. That’s true but was it that they couldn’t cope with academic challenges because they were poor or weak minded? Did they lose interest in their studies because they chose to run after frivolities? These rich men of our days, though dropped out of higher education but not to go and hide in street corners smoking cigarette and whatever. Yes, they dropped out because they discovered on time, their destinies and chose to pursue in earnest. They saw ahead of their age and mates; they saw what even the adults couldn’t see and so became consumed with the passion of discover hence, they dropped out. What education can be more than that? These dropouts that we all often refer to were educated and really, their achievements are the certificates while their wealth and fame, the compensation. Bill Gates of Microsoft for example was in Harvard, Mike Zuckerbag of Facebook was in Harvard and Late Steve Job of Apple was in Reed College. Please take care of your children. Train them well so that they will give you rest at retirement.
Your Kids, Your Pride
How proud are you with your current status considering your age? We live in a world where financial break-even age is far lower than what it used to be. Have you found that the limitations of yester years are the stepping stones of today? Can your kids be positioned to climb the Everest that you ever thought was impossible? Can they reach the heights you never imagined? Handle the kind of wealth you never can comprehend? I lost my father three months before I was born but that isn’t the issue here; I recall a scenario in our secondary school days; we were with my friend’s parent for dinner and on the table sat one of their family friends who hadn’t been around for awhile. Hmmn, I was jealous as my friend’s dad proudly introduced and described my friend to his friend as ‘taller than me, more handsome than me and much more intelligent than me’ was the dad’s statement about his son in comparison to himself. I make bold to say that your retirement is not secured until your kids become your pride. Take a cue from Otunba Subomi Balogun of FCMB; name the whiz kids of Nigeria’s financial market today and you would definitely name at least two of his kids; that’s a proud father, a man that can retire and indeed relax. Aig Imoukhuede and Herbert Wigwe of Access bank took over the management of the bank in their thirties; can you place yourself in the stead of their parents? Aig and Herbert’s parents might not need their money for anything but their joy is completed and their head swell when they see their well-trained children flying high beyond mediocrity. What are you doing? Abedi Pele was Ghanaian national team captain in his days; this man has successfully replaced himself with two of his kids in the country’s national team. That is how to retire and just like I earlier said, Otunba Subomi Balogun is one of Nigerians that knows how to do business and retire as he sits back now to see his son manages the financial empire he built. Go and speak with Ladi Balogun and you will find that he was prepared and was adequately trained to handle his office as the CEO at FCMB. Need I tell you more?
Continued Life
Your kids would ever remain your burden till death until you train them to become. Your kids are your continued life, an extension of whom you were and the possibilities of who you can be. Would you have loved to be an athlete and weren’t for factors beyond you? Your kids are the other opportunities to see yourself on the field, running. History has it that the father of John Kennedy trained and financed him to be the president of America that he never was and he succeeded at it and you know what? John never disappointed destiny when he eventually became the president because he became, by design. Please note that it takes conscious efforts to achieve; it takes the motivation coupled with a good environment to make success. Your means and opportunities at retirement may dwindle; make sure that you devote lots of attentions to seeing to your kids training now. Let’s consider how to achieve some of these goals within a short period of time.