I so this topic and decided to bring it here.
If this is the situation of a majority of people in United States, What of in Africa!
There, they talk about 401K. In Africa, a good number don’t even know what that is, as a matter of fact, many if not the majority, do not have one. No emergency fund, nothing to hold them down after having reached a supposedly ‘retirement age’.
In the United States and may be some of the western countries, there is hope. See,
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Jobs are readily available. Some work 3 jobs at a go!
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They have the privilege to work until they die!
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Fifty is not too old to turn around their current situation. Not limited by AGE!
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If u do not give up, you can at least be comfortable.
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Luck can find you and you will retire at 71!
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Lastly, this is a reminder. Learn from the experiences of other people and avoid ending up with a similar or nearly similar regretful life.
In Africa we have a lot of catching up to do. Especially this generation and generations to come. This current generation is the last generation that will have a somewhat transferrable inheritance. Then after that, there will be almost nothing.
So, people should love what they are doing so long as it brings the butters the bread. Then plan for the future accordingly.
I think in Kenya unless you are an entrepreneur, the rest retire by 55 years. What if there were hourly jobs that the elders can do and earn even in retirement? It would make everyone’s life much better. Because not everyone is business oriented.
I think in Kenya or Africa as a whole, there is some kind of pride/ego that discourages old people from actively working. Inferiority complex comes in to play too, where a Gen Alpha creative is running a successful business and a millennial works under him and takes instructions from him. Stigma too, job markets will favor younger and energetic applicants more than the old applicants for most jobs. They will be judged, you had your time to make yourself better and here you are competing with us that have recently come into the job market.
I don’t know how life is when one gets to the “retirement age” in Kenya (Africa) but I know that if you get there with almost nothing, it can be included in the episodes of 1000 ways to Die. Not only in Africa but everywhere in the world.
I would like to hear stories of people you know that got to the retirement age and were able to turn around their life financially in Kenya.
Vijana tujitume!