Sheila Tinderet a Business Development specialist handling pensions at Kenya Orient Life Assurance Limited. Her role entails helping individuals and groups save through pension.

With about eight years of experience in the insurance industry, I started off as an intern at Alexander Forbes in the Actuarial department. I then secured another internship at Kenindia Assurance Company Limited where I worked under the underwriting department. I held this position before securing a management trainee position. Prior to joining Kenya Orient Life Assurance three years ago, I worked at Resolution Health as a business consultant where I shifted my career direction to focus on pensions.

I used to splurge money which meant that I would spend most of my money on buying lavish or luxurious stuff which were not necessarily must haves or needs. Over the years, I came to realize that my spending habits needed to change. I learned that balance is key when it comes to managing money.

I adopted and continue to practice the money balance rule of 50/30/20 rule. However, this is not cast in stone. If you can have a larger percentage, go to savings, the better because you never know when your income may dip and you may need to rely on your savings.

I have a few memorable career moments but two stand out for me. Last year, I spearheaded the Kenya Orient Life Assurance ‘Pension Marketing Campaign’ which won the campaign of the year award as a social media marketing campaign on the individual pension plan geared to boost the uptake of personal pension products.

My other greatest career moment was in 2016 when I was recognized as the best employee in offering exemplary services to our clients at Kenindia Assurance Company Limited.

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In terms of my career, I would have soul searched and leveraged on my strengths from the beginning. This would have helped me determine the best career direction to take in order for me to put more focus on it. Unfortunately, due to limited opportunities, sometimes you have to go through different areas before you find where your passion lies.

It took me a few years and now I know my passion lies in pension. My current role gives me the fulfilment of knowing that not only am I helping individuals or businesses grow, but I am also able to touch people’s lives by guiding them to better plan for retirement.

In terms of finances, I would have started saving early as I came to realize that there is no limit to saving. Saving is a habit and if you do not start early, it will eventually affect you. Saving for me would have been a turn in life and I wish I started as early as when I was an intern.

Apply the money balance rule as it will help you have a sense of direction with your money. It is also important to ensure you set Specific, Measurable, Achievable, Relevant, and Time-Bound goals.

Before I invest, I always consider investments that preserve my capital to keep money safe; those that lead to capital growth and those that provide passive income. I currently save through an individual pension plan, a money market fund and fixed income securities, that is, treasury bills and bonds. By the time I want to purchase a treasury bond that is being floated, I will have planned in advance by progressively saving in the money market fund.

This method works for me because I can raise the required amount over a set period of time and thus achieving my investment goal. Previously, I saved with a Sacco and I would not say that this has not been effective but it was not aligned with my goals.

To some people, saving in a Sacco is an effective method.  Therefore, your preferred investment vehicles all come down to your goals as an individual.

Real wealth creation starts now with the little you have. Do not wait until you have a lot to start saving and investing. The beauty of saving early is the compounding interest that comes with saving early.

I would also advise people to trust the process. Sometimes, we want things fast and when it comes to wealth creation and finding what you are passionate about, it takes time.

A version of this feature on Sheila Tinderet was also published in the Saturday Magazine. The Saturday Magazine is a publication of the Nation Media Group.