Here is how you can retire in 7 years or less.

Passaris Kimani

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It is possible to retire from active work life in 7 years here in Kenya. It is by the magic of compound interest.

Here is how it works to determine the income per month you can live on say 50,000. You would be would need to invest the same 50,000 monthly in a 10% money market fund without withdrawal for 7years.

On the 8th year, you can withdraw the same 50,000 monthly for life...the fund would generate this income monthly without eating into capital.
Thus you can just retire

NB: you can replace 50k with whatever figure and it will still work
 

Juliet Mbleina

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Have heard about this money market and I feel its kinda a scam... Information that you get its quite limited.scanty!!!... Nobody is ready to open up and the interest accrued is very abnormal... Seeking opinion from relevant source could help unearth information that its not available
 

Namasaka

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What I see here is an immense misunderstanding. Something doesn't become a scam cos you don't understand it. I've had a money market fund since 2014 and made many withdraws and deposits in it with no problem. I am a happy satisfied customer. Let's read and understand things before screaming scam. 🤭🤭🤭🤭🤭
 

Ethel Ouma

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Money Market is a good fund and the most safe fund though the interest is not very high you are guaranteed of your money plus some interest. Instead of keeping your money in a bank for a long time and it earns you zero interest what is wrong with it earning some interest in money market funds. This is simply an account that earns you interest and you can withdraw your money wherever you need it but it takes 3 to 4 days to have the funds transferred in your account. I have been having this account for the last 5 yrs and it motivates me to save more and keep on earning more.
 

Davids

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Money market funds cannot be a substitute for the pension. Why? At some point, you will find yourself in a fix, and due to its liquid nature, you will definitely get into the fund, and withdraw some. This will automatically tamper with the kind of argument that you have put here.

Secondly, the income levels of many cannot allow them to set aside such a huge amount of money, just to prepare for retirement. It would be very strenuous for them.

So what can one do?
The money market can be used as an avenue to meet short term and long term goals, ranging from emergency funds to any goals stretching to a maximum on to two years. Anybody can consistently build a fund within that span.

But regarding retirement, you can set up a personal pensions plan and consistently and religiously keep contributing to your pension plan, having given yourself a time to retire. And when you attain the age, you can agree with your fund manager on how to draw down your fund. Truth is, you can live with the drawdown amount from your moment of retirement onwards.......think about it
 

Njesh Wanjiru

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Money markets in Kenya don't exactly offer what they promise. They will factor in issues such as taxation, fees, etc, and eat a large portion of your investments. You would rather put the amount in bonds and treasury bills and compound it yourself as you learn over the years. Money markets as in unit trust and the likes got to step up their sincerity game in Kenya. Most are a scam affair
 

Violet Kev

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I entered one they don't tell you it is 10percent per annum, so they divide that percentage by twelve months get per month then divide by days in the months to get daily compounding percentage at the of the day you minimum profit
 

Tonni J.

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Money market fund is the best way of investing your money with interest ranging from 5-11% depending on companies. You just let your money work for you while at the comfort of your home or while attending to other businesses.
Nowadays you have to expand your risks and you cannot invest all your money in your business. The covid-19 has taught many people a lesson and especially the lockdown part of it. To name just one, look at the taxi business, it thrives well during the night but with this curfew and lock down the business is hard to operate. I'm a customer at CIC though employed and I've enjoyed their services.
 

Ann Bram

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It's easier said than done. Most of these blue Chip companies collapse with your money. They can even refund a loss with a thousand explanations that don't add up—a personal experience. I wanted to retire at 30, everything in place, but the retirement money invested was a disaster on the companies part.
 

Ainea Melis

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Your funny allegations mean that if I deposit ksh. 420,000 into a money market account(which is equivalent to ksh. 5,000 monthly for 84months) in a lump sum, you get 50k every month? Something under carpet.
 

Joan K

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There's no business there. This is an investment for the lazy. We need money to work daily and earn like 100% interest in a month. Fast money is the best money
 

Minayo Edith

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The money market is so dependent on the economy and some years back they even gave negative returns. Right now they are busy attracting people's deposits once saturated they will start offering mediocre interest rates. Remember cytonn started by offering 20% last year or last year but one now they are at 11%.
 
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