By Burnett Munthali
Sycamore Consult Limited has urged Malawians to start saving for retirement as soon as they begin earning money rather than waiting until they are older.
The company’s Managing Director, Audrey Mwala, made this statement in an interview with Zodiak Broadcasting Station, emphasizing the importance of early financial planning.
She pointed out that delaying retirement savings with the expectation of using retirement benefits to build a house, start farming, or establish a business is an inefficient strategy.
According to Mwala, achieving financial stability and a comfortable life after retirement requires proper preparation well in advance.
She stressed that individuals should invest in multiple streams of income to secure their future rather than relying solely on pension funds.
Mwala further explained that having alternative sources of income, such as running small businesses or making long-term investments, ensures financial independence in old age.
She also highlighted the importance of building a home early in life instead of postponing it until after retirement.
In addition, she recommended setting up a separate savings account specifically dedicated to retirement to avoid financial struggles in the future.
Sycamore Consult Limited believes that proactive financial planning not only guarantees a stable future but also reduces dependence on relatives and social support systems.
Mwala encouraged Malawians to take financial literacy seriously and seek professional guidance on investment opportunities that can sustain them beyond their working years.
She concluded by reminding individuals that retirement should be a time of enjoyment and peace, not stress and financial hardship.
With this advice, Sycamore Consult Limited hopes to inspire a culture of early retirement planning and responsible financial management across Malawi.
