The year is about done and its time to start planning for 2009, with alternatives to build alongside the shares portfolio that will be carried into the new year.
1. Money Markets: Unit trusts are currently offered by African Alliance, Old Mutual, British American, Stanbic, CBA, Suntra, Zimele, ICEA. The bare minimums for signing up are about Kshs. 100,000 (~$1,300), initial fee of 2% and annual fee of 2.
2. Real Estate: It’s time for to undertake a real estate investment that should be done in 2009 following the Pesa Tu’s blueprint though financiers have gone rather shy and some developments appear to have stalled. Have we reached a real estate peak after which it becomes a speculative bubble?
3. Social Networks: Need to invest more in offline social relationships – with buddies, friends, mentors, peers, chama societies and sports for spiritual, social, and physical health.
4. Travel more: My passport has grown mould this year and the need to breathe a different sort of air, see new sights and meet new people – locally and internationally is imperative for 2009. I had always wanted to visit Sauri – the Jeffrey Sachs millennium village, now I must add Kogelo to my travel plans for western Kenya
5. Become a pirate?: Investing is about risk and reward and the numbers are there for the new hot profession of late 2008. It’s not very different from what is my daily bread anyway.