help people understand how they can create a retirement plan

1. Why Entrepreneurship should
be part of our Retirement plan
Dr Kabata (PhD)
Entrepreneurship and Innovation

2. Why entrepreneurship and retirement
• Retirement is not just about having a pension scheme as argued but also
something to do. Unfortunately many people don’t prepare for this.
• You may not save enough for retirement but your small hustles may improve
your earning.
• I have seen people who retire with a lot of money but because they are idle,
they leave a miserable life.
• Only one in every seven working Kenyans is fully confident about their
financial well-being after retirement.

3. What next after the job
They say a habit is a disease and therefore your
employment habit (going to work every morning)
has become a habit.
This is the time to wonder what you will do if the
job is no longer there.
Do you have a side business or a skill that you
can develop as a future job. In fact I wonder why
we still call it retirement rather than job change.
What is your passion and can you monetize it.
( make it a product, price it, place it and promote
it).
Entrepreneurship should be part of your
retirement plan.

4. Cost of living or inflation
It is pretty sure that the cost
of living or inflation is not
going to reduce.
Therefore, what you are
spending today will not be
enough five, ten or fifteen
years to come.
You must save and invest
more if you want to continue
with the same lifestyle in
future.

5. Children
Your children should not be your retirement plan. Period.
In fact I foresee an increase the demand of home for the
elderly in future than now.
Why increased cost of living and globalisation
As you struggle to invest in and for your children, invest also
in and for your selves through, knowledge, properties, stocks
and develop your side hustle etc.

6. Spending
Picture this, you spend more in
weekends than weekdays basically
because you are not busy.
You will spend more in our
retirement than work life
This means that you need to save
and invest enough for your day to
day use and have fun.

7. Medical expenses
As we grow older our health is also
affected. Unfortunately especially in
Kenya some insurance firms are not
willing to cover us after sixty years.
Why because we are risky customers.
But we still have some few willing to offer
the service
Plan for the medical expenses during
these years carefully.

8. If you want to learn more about entrepreneurship and
retirement join my retirement and entrepreneurship course
and seminar
Thank you