INSIGHTS ON RETIREMENT PLANNING
Retirement is defined as the period when an individual withdraws from their
income-generating activities, applicable to both formal and informal jobs. While
many workers in Kenya report that they have started saving for retirement, fewer
have actually taken the step to determine how much money they will need for their
retirement. This indicates a gap in retirement planning, where individuals may be saving
without a clear understanding of their future financial needs. This has been the key cause
of increase in dependency ratio in Kenya.
This article will therefore provide a comprehensive guide on how to be adequately
prepared for retirement. Not only financial preparation, but also personal preparation
towards retirement. This article will also serve as a guide for the informal workers to know
when they are ready to retire since the dynamics of retirement are different for the formal
and the informal sector.
To access the complete article, please click the download button provided below.
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