How do i prepare for retirement?

[MikeOck]

Joined today. Admin wacha chocha zako

[Gikonyo]

I have learned two to three things that benefit in terms of investment.Kumbe villagers wengi ni investors

[Ubongo]

Mayai za admins vijiji zote zimekuwa mingi sana

[Tiriitiondo]

Go into low cost housing.If you can get a convenient place buy a plot and put up low cost housing for people like @uwesmake who can afford to rent mabati houses for 5k,with 40 houses you do 200k per month.Plus you need a nonsense caretaker.

[inninn]

@Goodlady

Yes i can.Whats your background? Mine is a bsc in Math which i was called for by JAB those days…didnt think i would make anything out of it… but it got me into Data Analysis/statistics.

Any advice for someone with a bsc in statistics? What’s the Data Analysis job market like?

[Goodlady]

@Tiriitiondo

Go into low cost housing.If you can get a convenient place buy a plot and put up low cost housing for people like @uwesmake who can afford to rent mabati houses for 5k,with 40 houses you do 200k per month.Plus you need a nonsense caretaker.

Ok…examples of areas i can put up.low cost…and the shambas not over the TOP?

[Goodlady]

@inninn

Any advice for someone with a bsc in statistics? What’s the Data Analysis job market like?

The data field is very marketable right now.You get into monitoring & evaluation, Statistics, Surveillance and research.All companies,NGOs, Ministries of Health require a data person to monitor and evaluate progress of program implementation.Ypur background is spot on

[system]

@Goodlady

Dear good people.I am employed…almost 40 with two kids.I have a job with a net of 350k.I am.looking for ideas on how to invest to secure my childrens future as jobs dont last.Kindly give m’e ideas.note…A side biz not viable as my job is so busy plus motherhood

In our twenties we invested in NSE( shares diversified). We bought real estate, and still buy more. Stocks and shares have been a let-down, but all our parcels of land have appreciated and earn steadily. However, the issue in our modern times might lie in the social life we have…divorce is expensive, womanizing is even worse!

[Goodlady]

Thanks John about the insight …land …about the other social life…interesting

[sakwa]

At late 30s you are still young and can afford to take some risks. Like others have mentioned, don’t do land and rentals, hizo no vitu za wazee retirees i.e low risk low returns too much time investment.

Go for some high-risk high-returns investments like shares. Uchukue Safaricom + a good bank such Barclays and KCB + an industrial company like BAT or EABL. Here you can make more than 20% return per year on average including dividends and share price appreciation, you can put 50% of your savings there, halafu 40% uweke kwa money markets and government bonds where you can make 10% returns guaranteed, then 10% weka kwa fixed deposit ama savings account as an emergency fund.

Then relax and continue topping up the investments as per those percentages. If you just save 150k per month for 10 years and earn an average of 15% interest per annum across all your investments, at the end of those 10 years you will have saved 18M and earned a total compounded interest of 24M so total you will have 41M. 41M will be earning you interest of 500k per month so you can retire comfortably in your late 40s.

The money will do all the work for you if you do the right thing with it.

[Goodlady]

@sakwa

At late 30s you are still young and can afford to take some risks. Like others have mentioned, don’t do land and rentals, hizo no vitu za wazee retirees i.e low risk low returns too much time investment.

Go for some high-risk high-returns investments like shares. Uchukue Safaricom + a good bank such Barclays and KCB + an industrial company like BAT or EABL. Here you can make more than 20% return per year on average including dividends and share price appreciation, you can put 50% of your savings there, halafu 40% uweke kwa money markets and government bonds where you can make 10% returns guaranteed, then 10% weka kwa fixed deposit ama savings account as an emergency fund.

Then relax and continue topping up the investments as per those percentages. If you just save 150k per month for 10 years and earn an average of 15% interest per annum across all your investments, at the end of those 10 years you will have saved 18M and earned a total compounded interest of 24M so total you will have 41M. 41M will be earning you interest of 500k per month so you can retire comfortably in your late 40s.

The money will do all the work for you if you do the right thing with it.

41M .mayooo thats good cash.thank you good people for elaborate advice

[omhangla]

@captain obvious

You should think of laying the foundation for your own consultancy firm based on the job you do. That will be an easier side hustle to manage because it won’t have a steep learning curve. Plus you can still run it for a few more decades after retirement.

Agree. If you working in the NGO sector, set up a firm and start doing small gigs and projects. You can do this with peers in the same industry. From my limited consulting works, many people out there have connections to get consultancies, but they have zero or limited data analysis experience and they still look for me to analyze their data for them

[Malong_yor]

I

@Goodlady

Thank you all am glad i joined this great blog for great minds…each of you deserve a bag of pure mogoka from my home district of Mbeere…its a sign of respect.

I’m ndwiga, a bashera from kiritiri. can u be mine?. I have 7acres of muguka.not far from River Tana. Overlooking kivaa. I have another 30acres in kanyuambora.rearing dairy cows. We can invest in business and life together.

[jamaafresh254]

@Goodlady

Dear good people.I am employed…almost 40 with two kids.I have a job with a net of 350k.I am.looking for ideas on how to invest to secure my childrens future as jobs dont last.Kindly give m’e ideas.note…A side biz not viable as my job is so busy plus motherhood

mashauri yangu

I pick out that you feel you have excess funds and want to do something with the excess money you have.

Here are some realities about today and tomorrow. That you are amking the good money today while your employed, kazi inaweza isha kesho so you would not want to invest in something that would make you cash strapped the minute you lose your job. (Not in anyway wishing you bad luck at all…realities)

1. Invest in ICEA’s money market and equity portfolio. They are (particular option long term investments.)

2. Buy into life policies for your children.
   Your relatively young and so your chances of getting caught up in pre existing options is slim and consequently your premiums will be slight. Go again to ICEA or Heritage. Usithubutu hata usifikirie Britam. These guys (Britam) numbers are too good to be true. They are best short term investment options.

Icea are legit people. Principled. Focussed and Real. Go to NCBA right now and all the NIC people are running the new bank. Explains why they have managed to survive the ages.

3. I gather you have an Apartment. Good. Dont get into buying to build rentals. Again, go back to my point of investing in something that would make you cash strapped the minute you lose your job. (Not in anyway wishing you bad luck at all…realities)

Instead buy as advised above the 2,3 Mita plots to sell. Na usinunue mingi. Anza na moja. Make your margin alafu reinvest and hivo hivo mpaka you get the swing of it. Truth is money circulation is seasonal and so if you have lotsa plots you may have more stress in disposing them, you get stressed up as people try to steal the plot, you under perform at work, at that time evrything seems to be going wrong in life, you get fired BOOM…Again not bad luck, just realities of life.

4. Move to a cheaper House. Cheaper than the 35 K you other house is bring you. I never understand how one would live in an expensive…R house yet they own one…why in Jesus Holy name did you buy the house in the first place and not the expensiver House? …Sorry i dont mean you. My sister has such an arrangement. She burned her fingers.

Moving into a cheap house would consequently mean that your bought house is paying your rented house’s rent and consequently your saving your salary portion that you would other wise use to pay rent. Get it

5. Quit drinking…and partying and expensive lunches here and there evryday. It will save you a hell a lot of money. (Expensive lunches is anything thats a K money spender in your life. Doing it once is a while is ok. Dont compare yourself with business people. I do the because for me its a business investment. I meet my client at Panafric, Dar ressalaam and Jo’ burg and so a return ticket and a calculated hotel expenditure is a factored in expense for my business every year. I call it marketing expense. Get the diffrence? You would otherwise use money for a luxury while I would be using it as an investment"?)

Ni hayo kwa sasa

xx
Charles Taylor

[Goodlady]

@jamaafresh254

mashauri yangu

I pick out that you feel you have excess funds and want to do something with the excess money you have.

Here are some realities about today and tomorrow. That you are amking the good money today while your employed, kazi inaweza isha kesho so you would not want to invest in something that would make you cash strapped the minute you lose your job. (Not in anyway wishing you bad luck at all…realities)

1. Invest in ICEA’s money market and equity portfolio. They are (particular option long term investments.)

2. Buy into life policies for your children.
   Your relatively young and so your chances of getting caught up in pre existing options is slim and consequently your premiums will be slight. Go again to ICEA or Heritage. Usithubutu hata usifikirie Britam. These guys (Britam) numbers are too good to be true. They are best short term investment options.

Icea are legit people. Principled. Focussed and Real. Go to NCBA right now and all the NIC people are running the new bank. Explains why they have managed to survive the ages.

3. I gather you have an Apartment. Good. Dont get into buying to build rentals. Again, go back to my point of investing in something that would make you cash strapped the minute you lose your job. (Not in anyway wishing you bad luck at all…realities)

Instead buy as advised above the 2,3 Mita plots to sell. Na usinunue mingi. Anza na moja. Make your margin alafu reinvest and hivo hivo mpaka you get the swing of it. Truth is money circulation is seasonal and so if you have lotsa plots you may have more stress in disposing them, you get stressed up as people try to steal the plot, you under perform at work, at that time evrything seems to be going wrong in life, you get fired BOOM…Again not bad luck, just realities of life.

4. Move to a cheaper House. Cheaper than the 35 K you other house is bring you. I never understand how one would live in an expensive…R house yet they own one…why in Jesus Holy name did you buy the house in the first place and not the expensiver House? …Sorry i dont mean you. My sister has such an arrangement. She burned her fingers.

Moving into a cheap house would consequently mean that your bought house is paying your rented house’s rent and consequently your saving your salary portion that you would other wise use to pay rent. Get it

5. Quit drinking…and partying and expensive lunches here and there evryday. It will save you a hell a lot of money. (Expensive lunches is anything thats a K money spender in your life. Doing it once is a while is ok. Dont compare yourself with business people. I do the because for me its a business investment. I meet my client at Panafric, Dar ressalaam and Jo’ burg and so a return ticket and a calculated hotel expenditure is a factored in expense for my business every year. I call it marketing expense. Get the diffrence? You would otherwise use money for a luxury while I would be using it as an investment"?)

Ni hayo kwa sasa

xx
Charles Taylor

Jamaa fresh wewe ni freshi kabisa.yes jobs come and go thats why i asked for guidance in this platform! Exvellent advise thanks .

[Goodlady]

@Malong yor

I

I’m ndwiga, a bashera from kiritiri. can u be mine?. I have 7acres of muguka.not far from River Tana. Overlooking kivaa. I have another 30acres in kanyuambora.rearing dairy cows. We can invest in business and life together.

I am from siakago…good work with the acres of muguka.we have some muguka my mum has kidogo tu outside our house an acre or so.keep up.

[MTINGIZA_KITANDA]

Nunua stocks in companies that pay dividends. Reinvest the dividends…dont put all your eggs in One basket. Diversify your portfolio for lesser risk

[Goodlady]

S

@MTINGIZA KITANDA!!!

Nunua stocks in companies that pay dividends. Reinvest the dividends…dont put all your eggs in One basket. Diversify your portfolio for lesser risk

Sawa stocks pia been advised here…am very green in stocks but i believe one can get a professional to advice?

[MTINGIZA_KITANDA]

@Goodlady

S

Sawa stocks pia been advised here…am very green in stocks but i believe one can get a professional to advice?

Do enough research on the companies before you buy their stocks. If the company declares bankruptcy your investment goes with it. Yeah seek someone who knows about stocks. They can burn you too. Right now most stocks are at a discount coz of the pandemic. You can buy into stable companies. Ones they go back up. Sell or keep them for longterm

[Goodlady]

@MTINGIZA KITANDA!!!

Do enough research on the companies before you buy their stocks. If the company declares bankruptcy your investment goes with it. Yeah seek someone who knows about stocks. They can burn you too. Right now most stocks are at a discount coz of the pandemic. You can buy into stable companies. Ones they go back up. Sell or keep them for longterm

Will do.Asante