Just do the math, and learn how investing can help you end well!

A million dollars… 5 million dollars… or do you even know how much you need? For many young people, especially Gen-Zs and young millennials, the belief that time is on their side often leads to a tendency to splurge and enjoy their youth whenever possible. While it is important to enjoy one’s youth, as this time is irreplaceable, it’s equally crucial to prepare for retirement, particularly if you aim to retire early. Imagine retiring at 40—is there anything wrong with that? Absolutely not! Whether your income comes from a job, a business, or other sources, you must remember that time flies, and it’s up to you to navigate it wisely. Regardless of whether you’re a young millennial or a Gen-Z, understanding that time flies when you’re having fun is key to planning for your future. 

So, let’s imagine this. How much do you actually need to retire? Let’s take these case studies. 

Case Studies 

  1. Bolaji 

Bolaji starts earning at 23 with a salary of ₦150,000. Her earnings grow exponentially due to different factors, including job changes, pay raises, and promotions. By age 30, she already earns ₦700,000. Throughout this period, she’s been able to set aside 20% of her income. Bolaji is risk-averse and prefers to save her money in a low-interest savings account. 

  1. Patrick 

Patrick’s story is similar to Bolaji’s: he starts earning at 23 with the same initial salary, and by age 30, he earns ₦700,000 as well. However, Patrick is an ardent investor. He saves the same percentage of his income as Bolaji (20%) but invests it in a diversified portfolio, including stocks, bonds, and mutual funds, which yields a higher average return. 

The Financial Outcomes 

Let’s examine their financial trajectories assuming they both retire at 60 and compare how their different approaches impact their retirement funds. 

  • Initial salary: ₦150,000 at age 23 
  • Salary at age 30: ₦700,000 
  • Savings rate: 20% of income 
  • Average annual salary increase: 10% (a conservative estimate for this calculation) 
  • Interest rate on savings: 3% per annum 

Let’s Do the Math. 

Total savings over 37 years (age 23 to 60): 

  • Savings from age 23 to 30: 
  • Initial salary: ₦150,000 
  • Salary at age 30: ₦700,000 
  • Average salary over 7 years = (150,000 + 700,000) / 2 = ₦425,000 
  • Total savings for 7 years = 425,000 * 7 * 0.2 = ₦595,000 
  • Savings from age 30 to 60: 
  • Using average annual salary increase of 10% 
  • Future value of a series formula to calculate the total savings with interest 

After calculating using the formula, Bolaji could end up with approximately ₦200 million by the time she retires at 60. 

Patrick’s Investments 

  • Initial salary: ₦150,000 at age 23 
  • Salary at age 30: ₦700,000 
  • Savings rate: 20% of income 
  • Average annual salary increase: 10% 
  • Average annual return on investments: 8% 

Let’s Do the Math: 

Total investments over 37 years (age 23 to 60): 

  • Investments from age 23 to 30: 
  • Initial salary: ₦150,000 
  • Salary at age 30: ₦700,000 
  • Average salary over 7 years = ₦425,000 
  • Total investments for 7 years = 425,000 * 7 * 0.2 = ₦595,000  
  • Investments from age 30 to 60: 
  • Using the future value of an annuity formula considering an 8% return on investments 

After calculating using the formula, Patrick could end up with approximately ₦500 million by the time he retires at 60. 

The Impact on Retirement Lifestyle 

With ₦200 million, Bolaji can expect a comfortable retirement, but with some limitations on luxury and occasional splurges. She would be able to cover her basic needs and some moderate lifestyle choices but might need to budget carefully to ensure her funds last through her retirement. 

On the other hand, Patrick, with ₦500 million, can afford a more luxurious retirement. He can enjoy more freedom in travel, hobbies, and other leisure activities without the constant worry of running out of funds. Patrick’s investment strategy has significantly increased his retirement nest egg, allowing him a higher quality of life and more financial security. 

Having a retirement plan is great, but a robust investment strategy can significantly enhance your retirement lifestyle. Don’t just save; invest wisely to secure a financially abundant future. Start your investment journey with FSDH Asset Management today. Let us help you navigate your path to a prosperous retirement. Click here to get started.  

Head, Compliance

Adedayo Bello


Adedayo joined FSDH Asset Management team in 2021 as the Chief Compliance officer, where he coordinates all the regulatory and statutory Compliance of the Company. Prior to joining FSDH Asset Management Limited, he has worked with notable Financial Institutions within the Capital market.

He is a finance professional with over 15 years of experience in Investment Banking. He was Head Compliance at AIICO Capital Limited, and equally functioned as Internal Control Officer, Acting Team Lead, Investment/Treasury Operations, and member of a Reconciliation Team in the same organization.

He commenced his Financial Institution journey/career at United Capital Securities Limited, a subsidiary of United Capital PLC (Formerly UBA Capital) where he worked in various units like Operations, Reconciliation & Resolutions, and Business Development departments.

Adedayo holds a B.Sc. in Geology from University of Ado-Ekiti and Masters’ degree in Exploration Geophysics from Federal University of Technology, Akure. He is an accredited Compliance Officer with the Securities and Exchange Commission as Sponsored Individual.

Head, Operations

Chinedu Nnadi


Chinedu Nnadi holds a Bachelor of Science degree in Statistics from Nnamdi Azikiwe University, Awka, Anambra State. He is currently running his Post-Graduate Diploma in the University of Lagos, Akoka, Yaba, Lagos.

Chinedu is an Operations Specialist spanning over 17 (seventeen) years beginning from Union Systems Limited where he worked as the Systems Support/Analyst before joining the Operations Unit of Asset & Resource Management Co. Ltd (ARM Investment Managers). His time at ARM was one in which he was a key member of the Operations Unit where he was involved in organization-wide process improvement with his involvement in the Business Process Review (BPR) which identified inefficiencies and proposed improvements that led to timely execution of Strategic and Tactical transformation. This review greatly impacted on process efficiency, overall organizational effectiveness through transformation of resources, migration and adoption of relevant Information Technology tools for Operational efficiency.

He later joined Nova Asset Management Limited (NOVAMBL) as the Team Lead, Capital Market Operations where He was responsible for setting up of the Operations unit from the onset, from there, he joined FSDH Asset Management Limited where he currently sits as the Head of Operations.

Chinedu is vastly skilled and knowledgeable in the Nigerian Asset Management Operations and Regulations. Business Optimization, Process automation and Transaction processing, systems re-engineering. He is a driver of technology and operational initiatives.

He is happily married and has undergone professional trainings on Personal Improvements, Systems and Process Improvements, Financial Market Fundamentals.

Chief Investment Officer

Taofik Oyeniyi


Taofik Oyeniyi is the Chief Investment Officer at FSDH Asset Management Limited. He has over two and half decades of experience in the financial services industry across Treasury/Money market activities, Funds management, Balance Sheet and Liquidity Management, Business Development, Credit Analysis, and Structuring.

He started his Banking career in 1997 as an Executive Trainee at Equity Bank after a brief stint as an investment Officer at Compass Finance and Investment. He grew to the position of Chief Dealer before joining Intercontinental Bank as a Regional Head of Treasury in the Treasury and Investment Banking Division. In 2005. He joined Skye High Financial Services in 2010 as an Executive Partner and Division Head of Treasury and Funds Management. He worked in this capacity up until joining TAJ Bank as the Treasurer and Divisional Head of Treasury and Investment in 2019. He joined Radix Pension Managers in 2021 as the Divisional Head of Investment and Treasury.  He was responsible at Radix for formulating the overall Investment strategy for all funds managed, supervising Portfolio Managers in various investment activities, and ensuring funds are invested in line with asset allocation.

Taofik is a graduate of Business Administration and a holder of   MBA (Finance Major) degree from Obafemi Awolowo University, Ile-Ife. He is a Chartered Accountant (ACA), an Associate Member of the Chartered Institute of Bankers of Nigeria (CIBN), and a CFA Chartered Holder.

Chief Financial Officer

Funmi Olutebo


Funmilayo Oletubo is a finance professional with years of experience in business strategy, financial and performance management, liquidity management, operations control, risk management, taxation, project management and process optimization.

She is the Chief Financial Officer at FSDH Asset Management Limited “FSDH AM’”, where she acts as a strategic business partner for creating value and executing the firm’s financial strategies.

Before joining FSDH AM, Funmilayo started her career with Integrated Software Services Limited where she gained extensive knowledge for driving the efficiency of business with technology and financial solutions. She shortly after joined Chapel Hill Denham as an Investment Officer where she rose through the ranks to become an Assistant Vice President, finance and operations supporting the Investment Management, Securities Trading, Investment Banking and Trusteeship businesses. She was responsible for coordinating several responsibilities as: budget preparation, financial reporting and analysis, consolidated financial reporting, external audit liaison, management performance reviews, regulatory reporting, automation and system enhancement, asset and liability management, alternative fund accounting, investment accounting, standard operating policy development and compliance with the International Financial Reporting Standards {IFRS}.

She holds a BSc in Applied Accounting and Accounting from Oxford Brookes University, Glasgow, United Kingdom and Babcock University, Ilishan Remo, Nigeria respectively. She is a Fellow of the Association of Chartered Certified Accountants (ACCA), Member of the Institute of Chartered Accountants of Nigeria (ICAN) and Chartered Institute of Taxation of Nigeria (CITN).

She is happily married, passionate about socio-economic development and runs an NGO aimed at supporting the less privileged.

Head, Sales, FSDH Asset Management

Margaret Agbonlahor


Margaret joined the FSDH Asset Management team in 2020 as the Head of Sales, where she drives the various market segments; HNIs, Institutions and Retail. She has over 20 years of banking experience, with expertise in Sales, Business Development, Marketing and Portfolio Management. She is also an approved Corporate Client adviser. Before she joined FSDH, Margaret was a Team Lead for Core Banking Finacle Software Application change at Infosys, Bangalore India. She has garnered a deep understanding of the Fixed Income, Money Market and Equities Market, and attended several courses on Wealth and Portfolio Management. She holds a BSc. in Business Administration from the University of Benin and an MBA from the University of Lagos.

Non-Executive Director, FSDH Asset Management

Nike Ogunjimi


Nike is a finance professional with over 18 years of experience in investment management, financial advisory and commercial banking.

Over the span of her career, she has worked at several leading firms in the Nigeria financial services industry. She is currently a Director at Kuramo Capital Management where she focuses on investment management and investor relations activities. Prior to Kuramo, Nike was part of the Client Solutions team at Standard Chartered Bank Nigeria and provided financial advisory solutions to the bank’s local blue-chip clients.

She also worked at Afrinvest Limited and, as a senior member of the Investment Banking team, she led the execution of numerous headline M&A mandates for notable Nigerian companies. She was a member of the firm’s Management Team and had oversight responsibility for the Finance unit, alongside her investment banking duties.

Nike has also worked at ARM Investment Managers where, as part of the Investment Management team, she was responsible for covering various sectors on the Nigerian Stock Exchange as well as international financial markets. She holds a BSc. Insurance from University of Lagos, Nigeria and an MSc. Finance from University of Leicester, UK.

Managing Director, FSDH Asset Management

Toyin Owolabi


Mr. Owolabi has over 20 years of banking experience and is the Group Head of Financial Institutions, responsible for developing and managing the relationship with all non-bank financial institutions and other institutional clients. Before joining FSDH, he worked at FCMB and at different times oversaw Financial Institutions, Correspondent Banking and Structured Funding. He was also the Head of treasury at IMB international Bank. Mr. Owolabi’s educational background includes a bachelor’s degree in Agriculture from the University of Ilorin and an MBA from Business School Netherlands. He has attended numerous local and international courses and in addition to financial institutions, was responsible for wealth management and correspondent banking at FSDH Merchant Bank.

Non-Executive Director, FSDH Asset Management

Kelechi Okoro


Kelechi was at Argentil Capital Partners where he originated and executed infrastructure transactions. Prior to Argentil, he worked with the Infrastructure and Natural Resources Group of the International Finance Corporation (IFC), and at ARM Investment Managers (with ~USD 2bn AUM), both in Nigeria. He holds a Bachelor’s in Human Physiology from the University of Ibadan, and an M.B.A. from Lagos Business School. He serves as a Non-Executive Director.

Non-Executive Director, FSDH Asset Management

Yasmin Belo-Osagie


She was a border in England before proceeding to Princeton where she graduated cum laude in History (major) and Finance (minor) in 2011. She attended Le Cordon Bleu (a hospitality education institution), in Paris and London. She studied at Harvard Law School and at Stanford Graduate School of Business, graduating with a JD/MBA in 2019. After her graduation from Princeton, Belo-Osagie worked with McKinsey & Company as a business analyst till 2013. While at McKinsey & Company, she met Afua Osei with whom she co-founded She Leads Africa. She serves as a Non-Executive Director with FSDH Asset Management Limited.

Non-Executive Director FSDH Asset Management

Folashade Ogunde


Mrs. Folashade Ogunde graduated with a B.Sc. (Hons) degree in Economics from the University of Ife (1984) (now Obafemi Awolowo University, Ile-Ife). She is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) (2005) and an associate member of the International Facility Management Association (IFMA) (2015). She started her professional career with the firm of Deloitte Haskins & Sells (Chartered Accountants), where she gained accounting and audit experience, and had a stint in Treasury Management at Bancroll Savings & Loans Limited (1993 to 1995) and International Funding Group (Nig.) Limited (1991 to 1992) before joining UAC of Nigeria Plc in 1997. She has held such positions as Management Accountant, UAC Foods; Divisional Commercial Director, Mr. Bigg’s (now UAC Restaurants), Group Treasurer, UAC of Nigeria Plc and Executive Director, Finance at UACN Property and Development Company.

Chairman, FSDH Asset Management

Folashade Laoye


She is a graduate of University of Lagos (BSc Accounting, 1990) and qualified as an Associate member of the Institute of Chartered Accountants of England and Wales in 1995 and the Institute of Chartered Accountants of Nigeria in 1997. She trained with Coopers & Lybrand, UK (now PricewaterHouseCoopers) from 1991 to 1995 and worked with the Corporate Finance Unit of First Securities Discount House (“FSDH”) from 1995 to 1997. She holds a Master of Business Administration from Harvard Business School. She has been instrumental in charting the growth strategy of Hygeia for several years. She serves as the Chairman of the FSDH Asset Management Limited Board of Directors.