Overcoming the ‘Fatigue’ in Retirement

There comes a time when every worker in the formal sector goes on retirement and there is a need to effectively plan towards that period. Today, many retirees across the Africa live in poverty. This occurs because the average worker does not prepare adequately for retirement. This transcends to Ghana where most people work in the informal sector. Hence, there is a need to develop strategies that would help people live comfortably in their old age when they can no longer work. Retirement is a crucial stage in life that should not be taken for granted. One basically stops working for a paid income and survives on their own savings or investment proceeds. Retirement is probably the most critical period for finishing unfinished goals. These goals, whatever they may be, have crucial financial implications. Unfortunately, what is not available during retirement is a salary and that is where pensions and retirement planning come in handy. Planning for retirement prior to its occurrence will help retirees live comfortably. The purpose of writing this book is to take the ‘tire’ out of retirement. It seeks to provide a simple and yet comprehensive basic guidance for the benefit of both public and private workers on retirement planning. It is envisaged that it will serve as a handbook to be used at workshops for both public and private workers in the Ghanaian society. The book has been prepared with sufficient reference to the Ghanaian and the Western context to meet the needs of both Ghanaians and workers outside Ghana. It may also be used as an academic material, to be specific, as a textbook. Also, advanced students pursuing specialized programmes in guidance and counselling at M.Ed./M/A/MPhil/Ph.D. levels will find this book as a useful introductory material to undertake more detailed work.