By Agnes Orang’o
Teachers across the country have been advised to invest in their children and families at large while still in service and plan ahead in a bid to sustain themselves in retirement.
Speaking to Education news, the Chairman Kenya Private Schools Association, John Mackenzie noted with concern that many teachers retire without any investment and called upon teachers to
invest in financial institutions like NSSF where they will be able to recover their savings after leaving service.
Mackenzi further opines that it is important for teachers to prepare their families psychologically in advance to help them adjust to life outside employment to avoid frustrations.
“What is important is to know how you and your family will adjust to having no salary after retirement and figure out a way to become productive. If you look around many teachers die five years after retirement because they failed to plan for retirement and get frustrations when reality hits them,” he said.
He said that it is important for people to venture into businesses in line with their careers after retirement so that they can prosper.
Others retire with some savings which they inject into businesses without proper diligence thus reaping losses and plunging into depression.
Makenzie recommended teachers retire a few years earlier so that they can concentrate on building themselves outside the classrooms.
“If you are still strong you can find another job in other relevant institutions such as private schools or even any other type of job. Such as farming-large scale, start businesses but I would not advise opening retail shops,” he said smiling.
I retired at 50 and my wife retired at 40 and it is the best decision we have ever made. If I didn’t retire early I would be dead by now with nothing to show. My decision came as a shock to many people because at the time I was heading big schools and earning good money,” said Makenzi.
He boasts of how he began his school after retirement and has been managing it so far stating that he doesn’t regret retiring early.
“We began with two classes and now we are a big school offering aviation technology. Retirement is a threat to human survival thus the need to prepare. During retirement, you need peace of mind and that comes with planning,” he said.
Makenzie adds that good planning and saving will help them counter diseases associated with old age.
“You know diseases like cancer, arthritis, high blood pressure and diabetes attack one in old age and being anxious or stressed at that age can send you to your grave, save your resources and manage them wisely,” he noted.
