13 Sep 2023

At some point, everyone who has a job or is self-employed will retire, and there is no question about it.

Batlhalefi Phale, the author of Retire Rich with a Pension Fund, breaks down the often-complex subject of retirement planning. 

In his book, Phale opines that the book was an important addition highlighting various concepts of retirement funds and planning. Retire Rich with a Pension Fund provides guidance on how to acquire a pension and where to acquire it. 

It also addresses the question of whether to get one’s fund as a stand-alone or umbrella fund. 

Additionally, it provides information on how to structure one’s fund and how to exercise one’s rights.

Readers of his book, he said would understand investment strategy, optimal cashing out decisions, and effective utilisation of emergency funds, among other related concepts, all in one read. 

They will come across topics such as knowing one’s pension fund structure. 

It states that a pension fund can be in two forms, a defined benefit or defined contribution and can be combined into hybrid pension fund.

While reading the book they will also learn about cashing in one’s withdrawal benefit, cost cutting and the effects of not studying one’s benefit statements, among others. 

Readers will also get insights about the three types of retirement funds being a pension fund, provident fund and retirement annuity fund.

“This book aims to not only satisfy readers’ questions on how to retire comfortably, but also equips them with the knowledge and understanding to seek further consultation,” the author clarifies. 

Reading this book, self-employed individuals and retirement fund members could bridge the knowledge gap and make informed decisions about their retirement. 

Possessing financial knowledge will become increasingly beneficial as a result,” Phale said. 

He advised that planning to retire earlier enhances one’s ability to develop sound strategies for life after retirement.

The book is intended for a wide range of readers - students, graduates, self-employed individuals, and members of retirement funds. 

Students, upon completing their education, can either join companies that offer retirement funds or purchase retirement plans from financial services providers as individuals. 

The book was published by Reach Publishers in South Africa.

According to the author, the book was designed to be an easy read, taking only a few days to finish. 

However, for one to fully grasp the retirement concept processes, ‘it is recommended to keep the book close by for reference purposes, especially when facing challenges during their tenure as a member of a retirement fund (such as resignation, retrenchment, and retirement’.

This is my debut book, although I am proud to mention that my work has been incorporated by other acclaimed authors, including Mr Lionel Harvey, who featured a chapter from my book in his publication titled; Things to do before you die.

However, I am not done yet. 

I aspire to write more books encompassing the realms of retirement planning and investing,” he explained

The inspiration behind this book Phale believes stemmed from his personal observations, hailing from his upbringing in Gaborone. 

“During my formative years, I encountered countless perplexing queries from individuals who were on the cusp of retirement; questions remained unanswered,” he said.

In an endeavour to contribute to dissemination of knowledge on retirement planning and investing, he said the aim was to convey complex topics in a way that any individual, regardless of their background, can easily comprehend them, transcending geographical boundaries and resonating with readers worldwide. 

He said the book seeks to probe into the lives of those who have  already retired and discovers not only the paths they have chosen, but also their lingering regrets.

The book is currently available on Amazon, Smashwords, and Botswana Book Centre in the Main Mall,” he said, adding that Exclusive Books recently agreed to sell it. The official launch of the book is scheduled to take place in Gaborone before the end of the year.

Phale was born to Janet Phale and has one brother. He was raised by both his mother and grandparents in Gaborone. 

He studied at Ben Thema Primary School, Bokamoso CJSS, and Naledi SSSS. 

He studied at the University of Botswana, graduating with a BA in Economics and Statistics, and was actively involved in theatre, drama and poetry during his school days.

He has worked for Alexander Forbes Financial Services for 12 years and later joined an asset management company, Ninety One in 2013. 

He is married to Kutlo Phale and has three sons. Ends