What does it take for someone to have a net income (either as savings or in investment)of N1 million in a year? What he or she needs do is to earn income(s)in such a way that he or she is able to set aside N115 per hour. It may be by working for someone else (employees)or doing your own business or by combining the two or by putting a savings in investment options where it can work on its own to yield additional earnings for its owner. And it may be that you can perform better than this or you are not yet in a position to be making money that can permit you having a net surplus of N1 million yearly. You don't have to live beyond your means or engage in activities that will jeopardise your life or endanger that of the people in the society. So? Work at your own pace.

As I used to say, Vision is useless if it cannot direct Action. Your vision should clearly indicate your destination, while your destination dictates your strategy; and the strategy in turn determines your action. This is the circle an achiever constantly completes.

So, to retire rich doesn't mean that you have to go and keep a particular amount of money somewhere; it means you have to make it a habit to regularly and constantly set aside money and investing the money towards the future. There is a big difference between someone who invests just N70,000 for five years and another who invests N70,000 every year for five years. At the end of the five years, if the money earn a yield of 25 per cent the first person will have N213,623, while the second person will have N718,115 in investment and yield. That is a lot of difference; and it is made possible by a determination to delay gratification till a future date.

Where do you want to be, financially, in 12 months or three years, or five years' time? Determine the wealth target and let it be a definite amount. Take a step further to break it down to the simplest form: how much you need to achieve this target per day or per month. This demystifies what might have appeared so huge and unattainable. I want to have N1 million in my bank account? Then, I need to be having N2,760 put somewhere everyday. For example, a regular monthly savings of N10,000 (and invested)over a five years' period will give N976,578 if it earns a yield of 21 per cent per annum - and it can do better than this if the 'soil' you plant the investment is so fertile.

A study of the Retirement Plan table shows that a modest investment that starts when someone is 30 years old has become millions of naira by the time the person is 60 years old. This new table is served so that you can monitor how the person progresses every year by constantly injecting additional funds to his or her investment portfolio despite the fact that the investments keep yielding good returns (25 per cent and 10 per cent respectively). Also you will discover that as the investor's income increases, so also his yearly additional funds increase. He started by investing N100,000 per annum (average of N8,333 per month). But at age of 35, he increased his fund injection to N160,000 perhaps as a result of increase in salary or profits.

The progressive increase in invested yearly fund undoubtedly makes the total investment worth grows in leaps until such an investor is able to boast of multi-million naira net-worth which he can play with during the retirement years to launch a new life as an entrepreneur.

With the money, he also has a choice of continually playing in the investment markets while he lives with the investment yields and spending his days reading newspapers, embarking on tourism or taking up a hobby that will enable him enjoy the rest of his life without stress.

But the journey to this financial affluence started one month with a saving of N8,333 but as a result of unbroken savings and investment culture, he could boast of multi-million naira few years after.

As this person is an employee, and has taken good care of his future, do you think he is going to spend his days crying for a pension or gratuity that may not take him anywhere or spend his days in the sun on queues with the hope to receive a paltry sum that is not certain? That we see frail old retirees dropping dead while waiting on queues to collect pensions means the foundation had been long destroyed! Intelligence makes the difference.

Till next week, enjoy my pen and stay financially fit.