20 ways to make money for early retirement.

The word retirement brings chills down the spin of most workers who are getting set for retirement. Those who have worked for more than thirty years are mostly affected due to the fact that they have not made any plan for life after retirement. It can be so disheartening seeing some retired staff of government owned companies living from hand to mouth and depending on monthly pension for survival these are fallout of their lack of planning.

A man who has started planning for his retirement on time will have no such fears, as he or she would be adequately covered for post retirement life. The choice of what an individual planning for retirement should venture into depends a large extent on what he or she is passionate about, funds available and the type of business.

Starting and running a retail shop

A retail shop is a small or medium scale provision shop located within your neighborhood. It is usually used in selling basic food items and other essential household items that are needed at home. It should be started three or four years before retirement, so as to achieve stability before retirement. The advantage of this business is that it can be started with a little capital and can be managed either by self or by your spouse.

Buying of stock

You could consider buying into the stock of some profitable companies that are listed on the Nigeria stock exchange. These are usually long term investment that can yield high dividend over time. There are some smart entrepreneurs who bought share twenty years before retirement at the rate of N2 per shares. These stocks rose to amazing high within five years of been listed on the NSE. Assume the stock price rose to say N27 and you bought 12,000 worth of stock. The stock would conveniently fetch the individual a whooping N300,000.


The average Nigerian is embracing the government policy of growing the economy via the A1gricultural sector and deviating from the oil sector. This policy has created a lot of opportunity for farmers in the last couple of years, and those preparing for retirement can also utilize the opportunity in the Agricultural sector via farming. Cassava, yam, plantain and maize farming are examples of some farming options available for those going through pre retirement process. Since you still working, you will be going to the farm at weekends and when you are on annual vacation. Getting someone to manage it on your behalf is essential, as the effective management of the farm would impact positively on the profit margin.

Poultry business

Poultry business, especially egg production is one that requires huge capital and its very lucrative. It is a business one can start while in service and grow gradually till it can begin to yield some form of income. I had a boss in the office that started a large scale farm close to his house and employed six staffs who stayed on the farm. He explained that it is a good business even though it usually takes a while for one to break even.

Children education

If you think education is expensive, consider illiteracy. The best form of investment one can think about while on active employment is giving quality education to the children. Some spend so much ensuring that their children don’t lack anything as far as their education is concerned. Some parents go the extra mile in the office to collect loan from cooperative because of their children education. The education of ones children is an investment that has huge profit margin. Your retirement is not meaningful if your children are still depending on you after retirement.

Joining a cooperative society

A cooperative society is a means of investment for the average worker who is about to retire. I have come across several workers who retired and weren’t paid gratuity or pension on time. It was their funds from the cooperative body they joined years before retirement that helped sustain them. The cooperative offers a form of compulsory saving option for the worker, as his/her cooperative deduction is done alongside salary schedule.

Setting up your own firm

An individual, who is presently working in the electrical section of a company and has an in-depth knowledge about how to diagnose electrical faults, can venture into opening his own electrical firm. It is a good option if you have someone who can be helping out with managing the company whenever you are not around. Confirm if it will be a sole proprietorship, limited liability or a public limited company before you thinking of starting up.

Become a writer/ publisher

Working provides a lot of experience. It gives you fresh perspective in life. If you are someone who enjoys writing just like I do, book publishing and writing can provide a good option for you. You can always use your spare time to put your thoughts into writing and create a medium where people will benefit from your knowledge via your published books. I made more than N150,000 from the first book I published in 2010. It was an awesome experience and I still cherish the lessons learnt.

Fish farming

fish farming is also productive and can be explored pre retirement. You can go into this business with just little help from hired staff. It is equally profitable and the start up is not capital intensive. You can go for little fish farming training before starting the business. you can even use your spare land at the back of your home for doing fish farming, thereby saving huge cost of getting a new land for that purpose.

Money lending

I found it difficult including this as a business one can go into before retirement, but it is a real option. I have patronized them while working in a power plant in Delta and the funny thing about the money lender I patronized was that he was a security guard in the company and I was earning more than him. He built his own house, bought a car and did other project from the profit he got from the business. its however not a business for the fainthearted as it comes with so much danger and challenges.

Starting a tutorial center

I once got engaged as a teacher on a part time basis while working on shift duty. The owner of the tutorial center coincidentally was also a civil servant. I learnt quite a lot from the few months I spent teaching in the center. Creating a multiple income stream via a tutorial center came to my consciousness and I guess any worker who loves teaching can explore it. The profit margin is amazing as students are not lacking.

Become a consultant

One of the numerous advantages of working in a specialized industry is the opportunity to set up a consultancy service company even before retirement. This is easy to do, as you can always tap from your knowledge in your industry to get clients and also to manage the company part time before your actual retirement. I have attended numerous seminars on Financial Intelligence in the workplace put together by staffs who came together to set up consultancy service company and it really fetched them real cash.

Investing in real estate

Buying lands and selling same for profit years after retirement is trendy. Building houses before retirement and renting them out to companies or individual is also a cool option in the real estate business. Alternatively you can play the role of a real estate agent even while in active employment and earn some good commission without sweat.

20 ways you can make money in Nigeria and retire early
20 ways you can make money in Nigeria and retire early

Electronic shop

Every home has one electronic or the other. The good thing about this business is that the demand for electronic will not die down, because new models keep coming up and people always change their electronic after some time. You can set up this business and hire a sales girl or buy to help manage it on your behalf. Your presence will also be useful when you not on duty, as lots of patronage can come through your presence. The business is profitable and not capital intensive.

Running a super market

Do you have the capital to start a super market business? Can you woo a customer with good communication skill and he/she eventually buys that product on display? If your answer is yes, then you can consider this business during your pre retirement period. It is lucrative, but the downside is that its capital intensive and requires lots of supervision.

Working from home

This is all about the interest. There are a lot of opportunities on the internet for those who can design websites. Those who are good in web programming can conveniently make good money from such specialized skills. Web editing and content writing are huge online jobs available for those who have the needed skills and ability. So what are you waiting for? Go ahead and start learning these skills and you are on your way to becoming an online millionaire.

Become a blogger

Amazing when we consider that most bloggers are actually professionals who do other normal 8 to 5 jobs like most of us. All they just did was try to prioritize their time and made maximum use of every free opportunity they had to blog about their passion and we never real got to find out why they were never broke for once. It was blogging that kept them afloat while others were struggling from month to month.

Running a pure water factory

In recent years, there have come to be so many pure water factories in the market, but the market never gets saturated. The market still yield excellent return on investment, because th min resources needed is water, and water is free. All you need is dig a bore hole and get some workers together and a van for supply and you are already in business.

Buying and selling fruits

Buying and selling fruits can offer a steady income streams to those who love traveling business. The passion for fruits can be converted to cash by buying various varieties and selling same to different categories of clients and customers. Oranges, apple, pineapples, garden egg, pear, pawpaw, grape, mango, guava, cashew and avocado are examples of some popular fruits available in the Nigerian market. The market is predominantly controlled by women and they usually travel often to source for the fruits. Some of the fruits are imported like apple, guava and grapes.



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