“Wealth is a function of savings and investments not earnings” Clients were advised during the first wealth Management training session for 2017.
The training held today at Cytonn Offices on ‘Personal Financial Planning’, was facilitated by Investments Manager, Maurice Oduor, who began by explaining that the essence of financial planning is to ensure one has a nest-egg when out of a job or during an emergency.
“Planning your finances ensures that you can continue with the same standard of living before and during retirement, have peace of mind and find financial freedom by getting out of the rat race,” said Maurice.
Investments Manager Maurice Oduor trains the participants.
Maurice noted that the secret to financial planning is starting early, adding that the core pillars of financial planning include saving, investing, debt management and budgeting.
“Start saving as soon as you can and treat your savings as a mandatory expense such as rent etc. Have a savings plan, save as much as you can in different investment vehicles and build an emergency fund worth 3-6 months of your living expenses to cater for an emergency or when you are jobless.” he added.
Participants listen in during the training
Maurice further advised the participants of the available investment opportunities which included Structured Products and High Yield Solutions, Collective Investments Schemes, Investment Co-operatives and Real Estate. “Before going for any of these investment options, consider your risk profile, return expectations, and liquidity requirements, and always seek the expert’s advice” said Maurice.
The session was very interactive as clients had a Q&A session where they sought clarification on financial planning. They also had an opportunity to network among themselves.
The training is part of Cytonn’s efforts to educate our clients on financial and investment matters.
To participate in our future Wealth Management Trainings, book a slot here: http://bit.ly/2jIOKGs
