Experts List Steps For Financial Stability, Psychological Wellbeing Before Retirement

Experts have advised Nigerians approaching retirement to plan early in order to avoid financial shocks and psychological stress associated with old age. The advice was given in Abuja during the 2025 reunion meeting of the 1977–1982 set of Abdul Aziz Atta Memorial College Okene (AAAMCO). Presenting a paper on Managing Psychological Well-being and Financial Stability […]

Experts have advised Nigerians approaching retirement to plan early in order to avoid financial shocks and psychological stress associated with old age.

The advice was given in Abuja during the 2025 reunion meeting of the 1977–1982 set of Abdul Aziz Atta Memorial College Okene (AAAMCO).

Presenting a paper on Managing Psychological Well-being and Financial Stability in Retirement, Dr. Tunde Puke said many retirees struggle because they fail to prepare early.

“Once you retire, your income will drop, your social circle will shrink and loneliness begins to set in,” he said.

He added that such conditions often trigger anxiety and health problems.

Puke explained that early planning reduces these risks, noting that financial and psychological stability can be strengthened through investment in small businesses, acquiring new skills, work-from-home options, steady savings and participation in the Contributory Pension Scheme.

Also presenting a paper on Implications of Nigeria’s Emerging Tax Policies on Retirees, Dr. Segun Ajayi said older citizens should consider ventures that fall outside federal tax brackets.

“Retirees need small businesses that are not affected by the new tax policies,” he said.

He added that citizens must also hold their governments accountable since, according to him, “most of the money shared to the three tiers of government comes from taxing individuals and their businesses.”

Earlier, Chairman of the organising committee, Dr. Puke, said members of the set had remained resilient over the decades.

“For 43 years, we have been beaten and battered by different economic, political and social situations, yet we are still standing,” he said.

He added that the group will celebrate its golden jubilee in 2027 when AAAMCO marks 100 years.

Chairman of the Set ’82, Alhaji Ibrahim S. Ibrahim, said the gathering was a reminder of the bond they forged as students.

“We stand as a family united by shared experiences that shaped our lives,” he said.
He added that their teachers left “indelible marks” on their lives and that their time in school laid the foundation for who they are today.

He noted that the reunion was an opportunity to reflect and reconnect, explaining that “we gather not just to remember the past but to look toward the future.”

Dr. Ajayi urged members to continue inspiring one another and to uphold the values of their alma mater by contributing positively in their communities.

Responding, the Principal of AAAMCO, Paul Amoh Orobo, represented by Dr. Sadiqi Ibrahim, said the school had continued to produce notable personalities since its establishment in 1923.

“This college has never scored below 85 percent in WAEC and NECO,” he said.
He added that the school faces challenges including lack of fencing, inadequate classroom furniture, shortage of security personnel and the absence of a school bus.

Orobo noted contributions from alumni and the intervention of Senator Natasha Uduaghan-Akpoti in upgrading facilities and improving the school environment.