Most Kenyans who have a well-paying job live a comfortable life, yet shudder at the thought of retirement. According to experts, retirees are prone to make huge financial mistakes because of excitement, anxiety or inexperience. Mzee John Kimando, a retired civil servant, says retirement money is very sweet but it also comes with fear. Violet Vihenda, a financial advisor at Britam Insurance, says that people should understand that their retirement life is longer than their working life, especially if they are broke during retirement. There is also a need to focus more on their pension and if possible get a pension booster’s plan.”Vihenda adds that the common mistake retirees make is starting off new families.

Source: Standard Digital July 25, 2021 04:30 UTC