Abojani, a digital-first personal finance management company is marking its 60th Masterclass since 2018 today, with a free retirement planning masterclass in partnership with ICEA LION Life Assurance.
The Abojani Personal Finance and Investment Masterclass has over the years attracted participants from East Africa and across the globe. It is a literacy & lifestyle self development course making it useful to any household in Kenya & East Africa. The masterclass has positively impacted numerous individuals and families in Kenya and East Africa by helping them connect their personal finances and resources with their life goals.
The company, Abojani, which is known for its voice in championing financial literacy and empowerment through various digital platforms, is targeting those in their 20s and 30s in a free webinar on Retirement Planning.
Retirement statistics in Kenya are worrying. 82% of retirees still seek employment majorly because the expected lump sum is still too little to depend on. According to the Retirement Benefits Authority, the average income replacement ratio is at 40% against a preferred 75% in established markets such as South Africa. In fact, Kenyan retirees are ranked among the poorest globally.
According to Charles Machira, the CEO of Retirement Benefits A, 7 out of 10 Kenyans could struggle financially in their sunset years, highlighting that old age poverty isn’t new in this country, as only 26% of Kenyans are saving for retirement.
The upcoming webinar seeks to change the narrative by informing those in their working ages to plan better for their retirement by building a portfolio of sustainable Wealth Baskets. According to Abojani, a Wealth Basket is a collection of assets designed to grow and preserve wealth over time and includes a mix of money market funds, insurance, retirement funds, stocks, bonds, real estate and even SACCO investments etc depending on one’s unique circumstances.
Scheduled to take place on 14th August 2024 at 7:00 pm EAT, the webinar will be an eye opener for the new generation of adults who have the unique opportunity to listen in from wherever they are, about the different methods of saving and investing for their sunset years.
Zoom Link: https://bit.ly/retirementwealthbasket
Passcode: pensionsKE
