The document discusses retirement and re-engagement. It addresses when one retires, which can be at the legal retirement age, when successors are ready to take over, or when one's productivity declines. Retirement is described as a shift to a new activity rather than stopping work. The document outlines different types of re-engagement like starting a new business or pursuing hobbies. It stresses the importance of planning early for retirement through saving, insurance, and potentially starting a business. Cultural differences in family support during retirement are also addressed.

1. By
Prof. Waswa Balunywa

2. Questions
 When does one retire?
 What does one do after retirement?
 How do you prepare for retirement?
 What are the choices?
 How to actually do it?
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3. When Does One Retire?
 On ready retirement age as per law
 On getting to stage of diminishing returns
 When successors are in place
 When he makes enough money!?
 No age limit
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4. What is Retirement?
 A shift from one type of activity to another
 Appropriate when one ceases to contribute
effectively to one type of engagement
 Retirement is Re-engagement
 When successors are ready to take over
 Reducing own workload and speed
 No need to stop working
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5. What is Re-engagement?
 Switch from one job to another.
 One needs not retire entirely.
 One needs to be engaged in something.
 Doing non-strangeous activities
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6. Different types of Re-
engagement
The choices
1. Re-engagement on reaching a compulsory
retirement age
2. Planned Re-engagement on making
sufficient income
3. Forced Re-engagement
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7. Challenges
 Illness
 Declining income
 Death of spouse
 Living too lonely
 Problem with children/
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8. How to Overcome?
 Plan
 Save
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9. Cultural Setting
 African families still extended family system.
 Western countries have nuclear family. When
children grow they go away.
 African families still have family support.
 Looking after elderly
 Elderly look after children's’ home
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10. Re-engagement on Reaching a
Compulsory Retirement Age
a) Civil service retirement
i) Sit home with a pension
ii) A pension with a business
iii) A pension in the extended family support
iv) A pension with creative wealth support
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11. b) Non-Civil service retirement
 Depends on extended family
 Depends on accumulated wealth
 Work to death
 A combination of any of the above
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12. Planning for Re- engagement
 Important to recognize retirement as re-
engagement
 Plan early in life
 Save to ensure finacial independence
 Take insurance where meaningful
 Rich dad poor dad way. Create wealth
 Plan for a business activity
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13. a) Important to recognize
retirement as re-engagement
 Life is a cycle, from childhood back to
childhood.
 In each cycle you are either supported or you
support yourself
 Each cycle is an engagement, childhood,
student, work.
 There is always decline and possibly decay
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14. b) Plan early in life
 Evolve life goals and adjust them with time.
 Follow your brains and your heart.
 Look to the future and plan back to the
present.
 Visualize the various stages of your life.
 Support the different stages with necessary
energy and resources.
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15. Save
 Do not spend more than you can
 Put some money aside however little
 Never borrow unless you are sure of your
cash flows
 Or borrow to be leverage situations other
than inflation
 Your savings today will be of great help in
your re-engagement stage
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16. Take Insurance
 Under good financial circumstances take an
insurance.
 An insurance is a savings you will definitely
need the money
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17. Rich dad poor dad way
 Do not look for money, look for wealth
 Buy and sell property
 Borrow to buy property for sale
 Buy shares in the company
 In conclusion you will earn while seated
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18. Doing business after
retirement
Issues
 You are a spent force by that time possibly in
decline stage
 Resources have competing needs
 Very costly health conditions
 None the less you can always start
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19. Starting and running business
in the decline stage of life Establish a need in the market
 Think through the idea
Can it be produced?
What is its price?
Can it be sold?
How to sell it?
 Discuss idea with experts
 Prepare a business plan
 Do you have the necessary funds
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20. Start the business
 Mobilize finances
 Register the business
 Acquire relevant premises/ equipment
 Take necessary action to create value
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21. Issues/ what to watch out for.
 Do not hire people you cannot fire
 Do not borrow
 Don’t spend more than 25% of your
accumulated earnings
 One step at a time
 Bite what you can chew
 Location is important
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22. Toddler
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23. Toddler One Year
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24. Four Years
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25. Active- Eight Years
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26. Active Youth
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27. Executive
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28. Old Age: After Retirement
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29. Retirement Home
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