Financial Empowerment Seminar with focus on 1. Causes of Business Failures 2. Retirement Planning /Life after Work-Life 3. Overcoming Financial Challenges in Retirement

1. Foursquare Gospel Church Akute

2.  Rev. Laja Shoniran is a well known Financial Intelligence Expert, author
and a successful ManagementConsultant.A financial literacy advocate
with passion for entrepreneurship training and financial literacy skills
as tools for equipping young people, leaders and professionals for
purposeful living and empowering them with skills to achieve their full
economic potentials.
 He is anAlumni of Lagos Business School - PanAtlantic University, a
fellow of the Certified PublicAdministrators of England andWales, a
Certified ManagementConsultant with Centre for Management
Development and an associate of the Certified Cost Management
Institute of Nigeria.
 The initiator and Project Director of Financial Literacy for All andTeach
ChildrenTo Save Initiatives.An NGO promoting savings culture,
financial literacy and entrepreneurship in Nigeria andAfrica
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3.  Financial Empowerment
 Causes of Business Failures
 Retirement Planning (Life afterWork-Life)
 Overcoming Financial challenges in
Retirement

4.  “While the earth remains, seedtime and harvest, and
cold and heat, and winter and summer, and day and
night shall not cease” Genesis 8.22
 ‘For the children of this world are in their generation
wiser than the children of light’ Luke 16; 8
 “My people are destroyed because of lack of
knowledge” Hosea 4; 6
 “Wisdom is the principal thing therefore get wisdom,
and in all thy getting, get understanding” Proverbs 4: 7

5. To unlearn
what we
have learnt
that is no
longer
effective
To learn
how to
make,
manage and
multiply
money
To be
Empowered
Financially

6.  Comfortable in “Uncomfort” Zone
 You love the old ways – resistance to change
 Over-Confidence/ I know it all Syndrome
 It is too easy or too hard
 Some say ‘You can’t teach old monkey new
tricks’

7.  If you don’t know what they do, you can fast and pray from now to
eternity, you still wont be as buoyant as you ought to.
 God built the world on principles. That’s why we don’t have to
pray for the sun to rise and set, for the stars to appear, for
oxygen to flow into our system, for day to break or night to fall
 Our God is a God of order, He is not a God of confusion. He is not
a moody God who blesses people as he pleases.
 Once you follow the principles He laid down in any area of life,
you will surely get the desired results.
 But the problem is that most of us crave for miracles but we
refuse to follow the principles. God certainly doles out miracles
but it will take the principles to sustain them.
 So how can we cultivate the type of mindset
that will bring financial abundance?

8. “A budget
is telling your money
where to go
instead of wondering
where it went Dave Ramsey

9. Average People
Have Lottery Mentality.
Rich people have
an action mentality”
Steve Siebold

13. Whoever thinks money
doesn’t buy happiness,
transfer all your money
into my account …

14. “if you find yourself saying
to yourself that you can’t
afford to save money right
now, you are lying to
yourself”

18.  To be given the tools and resources necessary to
make confident and informed decisions
 An external process which builds a person’s self-
esteem and confidence in his/her ability to make
good decisions, to control his/her own life and to
achieve success
 The main essence of empowerment is to become
financially free – financially empowered because
money answers to all things

19.  Financial Empowerment is the process of learning,
developing and establishing healthy financial habits and
maintaining them for a lifetime.
 Healthy financial habits includes;
▪ Saving regularly
▪ Spending wisely
▪ Investing
▪ Starting and Growing your business
▪ Frugality
▪ Prudence
▪ Hard work
▪ Integrity
▪ Planning and goal setting

20.  We need empowerment in order to manifest as
children of God
 To fulfill the purpose of God
 To achieve our dreams and aspirations in life
 To help empower others
 To propagate the gospel of Jesus Christ
 To break the power of poverty
 To unleash the wealth creation power given to us
by God

21.  Identify what you have
 Research and acquire knowledge on how to
use yourTime,Talent andTreasure
 Start with what you have
 Deploy your 3Ts to generate income
 Manage the money/income generated from
your 3Ts
 Invest in stocks and other businesses so your
money can continue to work for you
 Start your own business

22.  There is a business in all aspects of human
endeavour. Wherever there is a need there is
likely a business meeting that need
 Business require more energy than employment
 More than 85% of businesses stated today will
not be existing in five years
 Business failure is no respecter of size of
business. Micro fails; small fails; medium fails;
large fails and Multinational fails as well
 There are 400million businesses around the
world

24.  Starting a business for a wrong reason;
 Lack of planning;
 Insufficient funding;
 Poor management;
 Lack of focus;
 Lack of Market differentiation;
 Outsourcing can eliminate unnecessary
spending;
 Mismanagement of business funds;
 Lack of business visibility;
 Poor customer services.
 No generating enough sales

25.  You are not in business until you make a sale
 The Business of the business man is to
manage the money that the business is
generating

26.  Stamp Collecting – Philately
 Other collectibles – jewellery, arts,
 Blogging
 Writing – freelancer.com
 Programming/coding
 Playing an instrument
 Hand crafting
 Baking and cooking
 Photography and Graphic designs

28.  ‘To live in misery is to leave your twilight years
to chance!’
 ‘The secret of your future is hidden in your daily
routine’ Mike Murdock
 “The future belong to those who see
possibilities before they become obvious”. -
Theodore Levitt

29.  You will have
 25 - 35years of life after work-life
 Work-lifeWithdrawal Syndrome
 Have to live on a fraction of your current
income
 Need more money to meet golden years
expenses
 May need another sources of income
 Live to see your children grow old
 Likelihood of living in old peoples’ home

30.  Are you Ready?
Are you Preparing?

31.  We live out our lives in search of, and waiting for, our
golden years of retirement, assured that all will be
well, if we can just reach the age of 65.
 But, even if we sweat and toil for the financing to
support our life of ease and leisure, how many of us
actually plan on just what we will do, when our days
are no longer filled with the 8 to 5 scope of work?
 Is there life after work-life/retirement?
 Are there several ways to stay active and make money
after retiring?
31

32.  Your future is a direct derivative of the plans
you place in motion today.
STAGE 1 STAGE 2 STAGE 3
Morning Afternoon Evening
Infant Adulthood Old Age
Childhood Economic Age Retirement
Dependent Independent HARVEST
ENTREPRENEURSHIPTRAINING 32

33.  Planning for the three stages of retirement
ensures peace.
STAGE 1 STAGE 2 STAGE 3
Immediately Later Much Later
Abundance Limited Options Old Age Issues
High Energy Low Energy Inactivity
Independence Require Assistance Dependence
ENTREPRENEURSHIPTRAINING 33

34.  75% of retirees loose all or some part of their terminal
benefits to scams and fraudulent businesses
 Decide how you intend to spend your retirement –
idleness is a killer in retirement
 Don’t wait till you’re too tired before retiring
 Be aware of all the benefits that should accrue to you
upon retiring
 Attend seminars and workshop on retirement
planning – knowledge is power
 Personal savings and investment should be part of the
retirement planning
 Develop a hobby you are passionate about
 Join and be active in Professional/Alumni associations
and humanitarian club

35.  Start a business in the area of your
experience
 Use the network you have built over the years
 Attend entrepreneurship seminars often prior
to your retirement
 Don't invest all your benefit in a business. Any
business can fail
 Be creative, start a business that requires
little capital – be a consultant

36.  This is the digital age and technology is
making life easier and things that are hitherto
impossible possible
 Be digitally compliant. More than half of the
world’s population are online don’t be
excluded
 Technology can make running, monitoring
and growing your business much easier
 Social media should be used to enhance your
social interaction and relationships

37.  Do you know your networth?
 How much of your assets have you secured
through insurance
 What is the estimate of the returns on your
investments?
 Can the return take care of your living
expenses when you retire
 Have you written a will? – After life Budget

38.  Develop interest in the digital reality of today,
be social media compliant
 Don’t expect your children to come take care
of you – they are not wired like that
 Expect to pay your grand children school
fees.There are more grandparents paying the
school fees of there grandchildren today than
ever in the history of the world

39. About 78% of retirees will encountered
insufficiency of financial resources

40.  Lack of planning – Leaving retirement to
chance
 Inadequate provision for retirement
 Spending retirement income for emergencies
 Inadequate retirement income
 Expectations from family and friends
 Inability to change to a moderate life style
 Lack of interests outside job during
employment

41.  Take Stock of your assets
 Learn new skills –YouTube videos
 Become active in alumni/professional
associations, volunteer group etc
 Re-activate your hobbies
 Curtail your social spending

42.  Visiting my age-long friends to keep in touch
 Engaging in part-time assignments to make more
money
 Engaging in political activities
 Learning to mind my business
 Learning to live a moderate life style
 Talking to people I trust
 Dedicating more time to Religious Activity/Charity
 Engaging in exercise to keep fit
 Taking up contract appointment
 Participating in activities of Union of Pensioners

43.  See god as the source of all gold
 Learn to Manage your resources better
 Use your mind; be creative and dream big
 Develop positive mental attitude
 Enlarge your network – Manage Relationship
 Take responsibility for your life
 Develop skills for the digital age
 Don’t forget to develop your spirit through
the word of God

44.  Rev. Laja Shoniran
Managing Consultant
Infinite Intel Consult
HRTraining, Recruiting, Outsourcing & Business Consultants
Project Director
Financial Literacy for All (Teach Children to Save Initiative)
Tel: 08023005235
E-mail: themoneyschool@yahoo.com
Website: www.mymoney-ng.com