Background to Readiness to Retire Self-Assessment
The readiness to retire self-assessment was developed by the Retirement Life Hub team led by Dr. Charles Barugahare (Ph.D, FCCA). He is the Co-Founder of Retirement Life Hub, who has since 2020 dedicated much time to develop and deliver practices and approaches for a desirable retirement life!
After working for 22 years in various organisations and institutions, the last of which was at Makerere University as the University Secretary and Accounting Officer, he closely observed that several people were retiring unprepared. This also happens in many other institutions as well. The un-preparedness affected and still affects many people.
This forced him to dedicate time to research, consult, learn and develop tools and resources required to: Build capacity to provide knowledge, skills and practical actions to create impact. This will enable people to cope with and survive the retirement realities.
- Retirement means “leaving one’s routine job and/ or ceasing to work.”
- Anyone can retire due to: restructuring, closure of business, expiry of contract, medical grounds, ceasing a political office, mandatory age, or any other causes at any time and age.
- You need some basic money (cashflow); enough to satisfy individual essential needs in retirement.
- You need to keep physically and mentally active, engaged and productive.
- You most importantly need to have very close relationships and networks.
“The fundamental question every working person must address is how prepared are you for retirement?”
This overview therefore, focusses on the five elements above by:
- Appreciating and knowing where you individually stand through a readiness-to-retire assessment.
- Designing a retirement strategy to deal with your unique challenges and opportunities, based on individual assessment.
- Facilitating acquisition of knowledge, skills, demonstrations, illustrations, coaching and mentoring to empower you to systematically take action.
This is the very reason why these resources have been put together.
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