4 BEST WAYS TO SECURE YOUR SAVINGS 1) OPEN A US DOLLAR ACCOUNT The US Currency is still the most Commonly Used and the Most Strongest I would therefore advise that your Retirement Benefits / Savings should be in US Dollars, I mean figure this out 1USD Dollar is 87 Times stronger than the Kenyan Currency , 5000 KES In 1960s could buy you a Car, in the 80’s it could Buy you a Motorcycle, in the 90’s it could buy you a Bicycle and in this Millennium, 2000 to date it can Buy you a Pair of Shoes , FACT : this Currency is weak and cannot trusted with a Successful Retirement plan , Solution , Make your retirement Plan in USD . .. I find Barclays Bank Lariba Dollar A/C and NIC Bank Dollar Accounts to be very attractive 2) BUY FOREIGN ORDINARY SHARES Ok I know most of us would be proud to invest in “Home grown Companies “ Like Safaricom , Kengen and EABL and the likes , BUT it is a FACT that an economy with 41 Million People with 16 M as the working population now that is not a good start , since majority shareholders are Kenyans These Companies will continue to perform poorly in the Stock Market, if you can remember when Safaricom IPO was oversubscribed by 532% in 2008 at then the value went down simply because The demand was beyond the equity value of the company which was 200 billion shillings at the offer price of 5 shillings per share, this actually meant the Company could not afford to pay back the Shareholders in 10years with Interest Unless Safaricom Was a leading GLOBAL Company in the US or Australia because these markets are Big enough for good returns , SO how can you BUY Foreign Shares and for which Companies ?? You can purchase foreign shares through the Online broker Software program , I personally think that Shares for Companies like Google , Facebook , Linkedin listed in the NSE, Naspers which Owns OLX Listed at the JSE and NSE, The Chinese Tencent Company which is Listed in China and NSE are the Best, since they Operate on a Global Scale (on internet) , they have the Financial Muscles to make things work .. 3) BUY LAND Land is a very sensitive issue and that’s why during the last Kenya’s presidential debate it was the most interesting, Apart from Education, Land is also a factor of Production with no Diminishing returns which are flexible in nature an 1/8 of an acre goes for 120,000,000 in Lavington I mean that’s more expensive than some beach houses in California state in the US which is also the strongest economy by Gross State Product , or commonly known as GDP in Kenya , Land is a good Retirement investment Plan and Ultimately the Best way to SAVE your money .. 4) INSURANCE SCHEMES ; Most people hate insurance not because it doesn’t work BUT because they don’t understand how it works, The most RIDICULOUS retirement package in this country is the NSSF , The NSSF act was amended in 1987 , that act is my age mate do you expect that to work 26 years later with the current inflation rate ? NEVER Solution BUY insurance Policies that cover Inflation , Death , Disability and other Chronic illnesses , Remember, Just like small Kids , Old People also need a good medical Cover and hence you may not need to fork out a lot of Cash when retired .. Invest in one today, I always say for FREE that Pan Africa Life works for me ALL THE BEST IN YOUR PLANS ...HAVE A GOOD WEEKEND
Posted on: Sat, 31 Aug 2013 04:50:17 +0000
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