Dear subscriber,
Plan for your retirement before you get tired
Life expectancy worldwide has risen, with the global average currently at 73.3 years. Evidently, the average retirement age in the world is now over 75 years from 60 years a decade ago. While these developments reflect positive advancements in health and longevity, it is still important to note the rising cost of supporting the elderly. Longer lifespans mean longer retirement periods, which in turn, require more savings and careful planning to maintain a comfortable lifestyle.
In your late 20s or early 30s, life is an exciting blend of career milestones, ambitious goals, and endless possibilities. Retirement planning? It likely feels like a distant concern, something you can afford to put off for the foreseeable future. But here’s the twist: your dream retirement—a cozy house, countless vacations, and the freedom to just chill whenever you like—starts taking shape with the steps you take today. This sentiment inspired Warren Buffett’s famous quote: “Someone’s sitting in the shade today because someone planted a tree a long time ago.” In the lifestyle section of this Unity Bank digest, we help streamline steps to achieving your retirement goals.
Better late than never…or so we thought
The naira’s volatility has intensified as the year nears its close. After a 6.79% appreciation of the currency on December 9, 2024 to ₦1,620/$ at the parallel market, the naira has now adopted a downward trend. Against the greenback, the naira lost 4.7% to close at ₦1,700/$ on December 10 and further depreciated by 1.73% to ₦1,730/$ on December 11. This comes amidst concerns over rising inflationary levels in the country, with exchange rate dynamics being a major driver of the country’s inflation. Currently, Nigeria’s headline inflation stands at 33.88% (October 2024), a 1.18% increase from September’s figure of 32.70%.
This edition of the Unity Bank Digest provides a comprehensive analysis of these economic trends and engaging lifestyle and entertainment stories for your reading pleasure.
Enjoy!
