By Thomas Chilaya:
Local consultancy and financial advisory firm, Sycamore Consult Limited, has urged Malawians to make saving and investing a priority and take proactive steps to secure their retirement freedom.
Speaking at the end of a Retirement Planning Training in Blantyre last week, Sycamore Consult Limited Managing Director Audrey Mwala said financial awareness and effective money management remain crucial towards securing a safe retirement phase.
“Investing prudently has the potential to generate higher returns and serves as a source of income during retirement,” she said.
Mwala said by gaining a comprehensive understanding of investment options such as stocks, bonds, mutual funds, and real estate, individuals can make informed decisions regarding the allocation of their funds.
- Advertisement -
Acknowledging the fear and uncertainty often associated with retirement, Mwala stressed the importance of developing a sound financial plan to address such concerns.
Mwala said effective money management skills empower individuals to make informed investment decisions, thereby paving the way for a more secure and fulfilling retirement.
One of the participants, Elizabeth Sabakati, described the workshop as an eye opener.
“I am now evaluating my current savings and investment strategies to align them with my retirement goals, including assessing the adequacy of my retirement contributions, considering the investment options available, and exploring potential ways to optimise my savings for long-term growth,” Sabakati said.
