Balanced Fund:

Buying Price: 6.4906

Selling Price: 6.3015

Money Market Fund:  9.0% pa

Personal Pension Fund

Price: 17.1232

Guaranteed Pension Fund: 8.5% yield




AGM 2015


Quote of the week: ”The gratification of wealth is not found in mere possession or in lavish expenditure but in its wise application” Miguel De Cervantes

Personal financial advice has become a common topic in the most households. However, sometimes we may not all relate to the money saving tips available in the market. Perhaps it’s not easy to seek advice on building on your retirement when you 'are having a difficult time paying your bills. Financial advice is usually dependent upon your income bracket. What works for someone living alone without a family may not necessarily work for someone else with a family in a higher different economic bracket.While each individual's financial goals and needs are unique, there are some common pieces of advice that apply to each segment of the financial spectrum: 

Low Income Earners:

An income under this bracket makes paying for basic living expenses difficult and saving is practically impossible very difficult. . You basically live from hand to mouth. The main goal for this income bracket is to protect what little income there is. The most important tip for this income level is to manage every shilling as it comes in and goes out and plan for upcoming expenses. While it may be overwhelming to think about saving, it is prudent to start small and work towards increasing the amount being contributed for a savings scheme over time as you learn to manage the expenses ditures and avoid debt. Stash away what you can manage to save in a savings scheme that is flexible in terms of contribution and one that can give you a good return. Having even a tiny emergency savings fund can get you through the unemergency expenses. foreseen cash outflows. You could an also work on supplementing maximizing your income by building on a hobby to a profitable business idea engaging in a small scale enterprise that will not take you away from your full time activities. Look for a retirement savings scheme that can allow the minimum contributions you are capable of making. You could an split your savings into the categories making sure you are diligently building up on both.

Middle Income Earners:

For the middle class, building assets becomes is an important goal. The fact that day-to-day bills are covered means and saving should become s a priority either long term or short term.

In this class, there are two ways to build your net assets: Pay down debt and tuck money away in a savings scheme. Review your liabilities, including mortgage and personal loans, and have a plan to pay each one down within a reasonable amount period of time. At the same time, you need to start saving for your retirement.

In case your employer already has an occupational pension scheme, think about maximizing it your contributions or building adding on to it by opening contributing to a personal pension scheme and making regular contributions to it, no matter how small. This e case which w should apply even to the self employed.

High Income Earners:

The main goal in this bracket is to preserve the growing assets and ensure that they continue to grow/appreciate in value. The first step is to ensure that you have adequate insurance, including life, health, liability and property insurance. In the absence of insurance without it, assets can evaporate disappear and leave you financially vulnerable. At the same time look into diversifying your assets in different portfolios of investments and apply professional insight when considering a form of investments. Maximize your pension savings and in all means as much insurance covers are applicable, maintain an emergency fund which would see you through unemergencies foreseen cash outflow.

The Bottom Line:

A financial advice change depending on person’s what stage in of your life you are in and your income level. Focusing on what goals are important to you will help steer you towards in the right way direction and help you to achieving financial freedom. Finally, regardless of the level of your income, In always l ways strive to live within your means to avoid financial strain in whatever level of income you are and make it easier for push yourself towards achieving your  the financial goals you  have set for yourself.

You can send your comments or questions to This email address is being protected from spambots. You need JavaScript enabled to view it. , or visit our offices at Eco bank towers, 7th floor, Muindi Mbingu street for more information on personal financial planning. You can also follow us on our Facebook page- Zimele Asset Management ( Kenya)