A retirement plan where you are wealthy instead of struggling with financial constraints is a universal aspiration. While there are numerous investment avenues to explore, real estate stands out as a proven and reliable strategy for building and safeguarding wealth.
In Kenya, a country known for its economic dynamism and vibrant real estate market, most people are yet to use this key to securing a comfortable retirement.
Why then are Most People Retiring Broke?
According to the Global Pension Report 2023 by Allianz, Kenya’s retirees are among the poorest globally. The first reason is inadequate funds collection by local pension schemes. Also, a small number of people participate in the pension schemes and are permanent employees.
As of December 2022, over 82% of people aged from age 60 and above were still in employment actively to cover their basic needs. This quarterly jobs report by the Kenya National Bureau of Statistics shows us a picture of how most people are facing financial struggles even in their old age.
How then Will You Retire Wealthy and Happy?
Investing in an income-generating asset will help you be financially independent in your retirement. Instead of saving money in banks which can be affected by inflation or investing in dead assets that have no value addition, you can let your money work for you so that you can enjoy passive income now and even in the future.
Kenya’s real estate market has experienced remarkable growth over the years. As Kenya’s urban population grows, demand for rental housing continues to rise. According to the Kenya National Bureau of Statistics (KNBS), urban areas experienced a population growth rate of 4.3% between 2009 and 2019.
This urbanization trend fuels the demand for rental properties, creating an avenue for retirees to secure a steady income stream and making real estate investment a compelling option for wealth creation.
At Naivera, we help people invest in affordable rental apartments that assure you a predictable monthly rental income. You do not have to be a retiree to start investing in your pension plan. Retiring wealthy and secure is an attainable objective for Kenyan retirees who make informed real estate investments. By investing with us, you will manage risk and reduce the impact of economic fluctuations.
As with any investment, it’s crucial to consult financial advisors and legal experts to tailor your strategy to your retirement goals. With a proactive approach and the right guidance, you can pave the way to a financially prosperous retirement through strategic real estate investments in Kenya.