Advice from a senior immigrant on retirement 🤔🙄

I understand where she is coming from, but working deep into retirement is avoidable if you plan early and deliberately. The real focus should be on maximizing pension contributions beyond the minimum requirement, getting onto the property ladder early enough to avoid carrying a mortgage into old age and if you feel old, don't go into a mortgage, rent your way down, building investments outside your pension, and maximize your potential to earn by moving into careers with better income growth. Retirement planning also has to be intentional, plan for your healthcare needs, know roughly how much you’ll need, what lifestyle you want, and what assets will fund it and knowing which country to retire to is also a factor

Build a home back home with whatever retirement savings or home equity you've built up. Cash your social security/CPP/OAS checks back home. Travel once a year for medicals and squat with friends or family while abroad.

Best is to go back home. If you get 4k monthly in retirement and you’re back to Nigeria, that’s a lot of money to survive on.

Europeans love you guys so much that’s why they are allowing some of you to japa into their country to come and work yourselves till death while they themselves retire and go on holidays or old care homes and employ you to wipe their ass Legal Slavery 3.0

The labor of the immigrants is used to subsidize the retirement lifestyle of the citizens.

Buy a house, when the house appreciates, sell it. Now you have built equity. Buy another with more down payment. Buy a second house and rent out. When that also appreciates, sell it. Don’t sit like a lame duck waiting for 30yrs to pay off your mortgage, That’s the American dream!

Make retirement plans early. Join workplace pension scheme. Maximise ur ISA allowance, preferably stock and shares ISA investing into ETFs like S&P 500. Putting £200 per month in a fund that averages 9% per annum and compounding it for 20 years will give you close to £150k

I think the best is just to go back home. Whilst you are working,buy a piece of land and build something for retirement. Invest a little something every month. When retirement comes, put some tenants in your abroad house and pay some company to take care of the house and tenants.

Chinese, Philippines and etc Come to uk work and retire back in der country, but Nigerian wants to retire somewhere else. Oyibo wey retire for em country still get benefits to back up his retire even when they get so old dem go enter gv care homes

Block head make money set up a business back home and go back home

This narrative is largely frm middle-aged Nigerians n above. A younger immigrant in their 20s or 30s won't talk like this. There are more opportunities to make money now than there were 4 their generation. The old money/retirement system doesn't apply anymore and few pple knw it.

Cho cho cho.... always speaking on their perspective because if the stupid choices they made.

There is retirement, but you have to secure a job with a good company

Those who have ears let them hear. The government is using you as your using the system. Plan well

Facts! Lifetime decisions

Create exit plan

Facts 💯

This is lack of financial education. Once you retire, you’re suppose to sell ur big house and down scale to a smaller house. If you don’t have enough 401k to back ur SS, sell ur house and retire to Nigeria. SS is enough to sustain a comfortable living in a small city in Nigeria.

Which one is senior immigrant again? You this people…smh

It’s coming from nowhere - spot on.

Stop the shift. Get a full time permanent job then you can retire with benefits.

If there is no retirement abroad please go back to your country and stop coming online to complain

Speak for yourself.

Very true

Sell your property and retire to Nigeria

Please, speak for the country you are in, and stop saying “abroad”. That is how you Nigerians in the UK are always running your mouth.

Shame

With God all things are possible