The best retirement investments in Kenya vary depending on your age and location. A person of age 30 years or below may invest more compared to one who is 50 years or above. This varies due to the unmatched energy levels and the current state of living conditions. A 50-year-old man likely has fewer finances for large investments as most of the income earned goes to the family he has or those he’s educating. Here are a few examples of investments one can venture into regardless of their current position in life.
1. Farming investments
This involves the cultivation of crops or the rearing of animals. These can be for both own consumption or commercial sale. The type of crops grown in an environment depends on the soil type and weather conditions in a specific region. Some crops do well in humid climates and others do well in hot climatic conditions.
Livestock rearing involves the keeping of animals for reproduction purposes, beef, or even for work-related ideas. Some of the livestock reared include cows, goats, pigs, and poultry animals such as chickens among others. Animals reared on work-related ideas include dogs, mostly used as guards in various homes.
2. Investments in Apartments
These are houses built either in the upcountry or suburbs. They are majorly occupied by people who mostly work in nearby towns. Those who rent them are on contracts with employers within that area. Students also tend to occupy most of these houses. This works well when there is a nearby training institution be it a college or vocational training center.
3. Investing in Training Skills center.
This involves setting up a training center to share skills with which one was majorly dealing while on the working stage. A person can get a few equipment required to start the whole process and necessary documents as required by the law which involves registrations of the business.
4. Starting a Travel and Tours Company.
Travelling is therapeutic so as ones get to retirement age one needs more involvement with the outside world to curb overthinking. This way depression is avoided and also more ideas are shared which is a contributing factor to personal growth. A person gets to meet new friends and their thinking gets broader and improves in the way of thinking. Therefore, through this, a person will learn a lot about different cultures and communities present in the world and practice some of these cultures.
5. Investing in Travelling services.
Traveling services may involve both logistics and provision of the services as per the requirements or any of them. This is whereby one can self-provide the various services or outsource them from other people through leasing deals. This involves leasing vans and other transportation needed. However, you are required to get all the legal documents required.
6. Investing in Government bonds.
Government bonds are either short-term or long-term. This is money invested in the government by a person with a fixed interest rate and repayable after the specified period as per the contract. They are risk-free meaning one cannot lose their capital.
The above are a few ways to invest money for retirement. Decide what best suits your current financial status and interest!