Retire Well With Tamara

When it comes to retirement planning, most people focus on the numbers — how much to save, where to invest, and when to exit the workforce. While financial security is essential, there’s a deeper truth we’ve come to understand at Tamara’s: a well-funded retirement means little if it’s not deeply fulfilling.

Having walked with many clients on their retirement journey, we’ve seen the full spectrum — from joyful retirements to deeply regrettable ones. In this article, we share the four biggest retirement regrets, based on both global insights and real-life stories from our Kenyan clients, and how you can avoid them.

🔹 1. Waiting Too Long to Retire

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One of the most common regrets retirees express is waiting too long to retire. Many individuals work tirelessly for decades, delaying vacations, hobbies, and even personal wellness, believing they’ll enjoy life “someday.” Unfortunately, that “someday” never comes for some.

We’ve seen retirees who fall ill or lose their physical ability within months of retirement. Others lose their spouses or close family members, missing the opportunity to enjoy their golden years together. Retirement is not just about age — it’s about vitality, timing, and purpose.

💬  Mr. Kamau, 63, told us he wished he had taken a partial retirement at 58 to spend time with his grandchildren when they were younger and still wanted to play.

Explore phased retirement, part-time consulting, or transitioning to passion projects in your early 60s. The goal is not to retire when you’re exhausted — but when you’re still energized to live fully.

🔹 2. Not Spending More Earlier in Life

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Many of our clients admit they were too conservative with their money in their 40s and 50s, and now regret not creating more meaningful experiences. While financial discipline is crucial, so is experiencing the rewards of your labor in real time.

Whether it’s skipping a family trip, delaying home upgrades, or missing out on a dream course — regrets often stem not from poor saving, but from over-saving and under-living.

💬  Mama Atieno, a retired teacher, told us she waited 25 years to build her dream garden patio, only to develop severe arthritis that limited her mobility.

Life has seasons. Identify what brings you joy in each stage of your life — and allocate funds to enjoy those moments. Financial planning should include “joy goals,” not just survival budgets.

🔹 3. Failing to Track Financial Progress Early Enough

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This is one of the most silent yet dangerous regrets: not knowing if you’re on track. Many professionals only begin serious financial planning in their late 40s or 50s — often realizing they’re either off track or have been saving inefficiently.

By failing to track your finances early, you miss opportunities for compounding, tax breaks, or even correcting your spending habits.

💬 Example: One young couple who joined us at age 35 found that a simple review of their spending helped them cut unnecessary costs and boost their savings by 20% — simply by tracking and adjusting.

Tamara Tip: Don’t wait until retirement is 10 years away to assess your progress. Use retirement calculators, savings plans, and regular check-ins with a certified financial advisor to stay aligned.

We recommend conducting a retirement audit every 2–3 years, starting in your 30s.

🔹 4. Poor Tax Diversification in Retirement Accounts

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Many people only save through pre-tax pension schemes. While these are great for reducing today’s tax burden, they can become problematic in retirement when every withdrawal is taxed. That means a medical bill of KSh 500,000 might require you to withdraw KSh 700,000 or more after taxes.

Diversification allows you to withdraw from multiple sources — taxable, tax-free, and low-tax — giving you more control over how much tax you pay in retirement.

💬 Real Scenario: A client had 100% of her savings in one pension account. Every time she needed money, she paid an extra 30% in taxes, leaving her financially strained

 Aim to create a retirement plan that includes:

Pension funds (pre-tax)

Tax-efficient savings like education policies, insurance-linked savings, or unit trusts

Long-term investment accounts that are flexible

In Kenya, talk to your advisor about Approved Retirement Benefit Schemes, life policies with maturity benefits, or segregated fund options for long-term gains with flexibility.

🌟 A Financially Secure Retirement Must Also Be Emotionally Fulfilling

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At Tamara’s, we teach that wealth is not just money — it’s time, health, and freedom. The most successful retirees are not necessarily the wealthiest, but the ones who planned intentionally and allowed themselves to enjoy what they built.

💬 Lesson from Experience: A widower told us: “I spent my whole life saving for our dream safari trip — but I waited too long to go, and now I must go alone.”

Don’t let fear, confusion, or misinformation rob you of the life you’ve worked hard to create. Whether it’s budgeting for legacy gifts, building a home for your retirement, traveling locally, or volunteering — make your retirement reflect your values, joy, and purpose.

✅ Practical Steps You Can Take Today

1. Schedule a retirement check-up — whether you’re 30 or 55.

2. Track your net worth and set a retirement goal (lifestyle-based).

3. Review your tax exposure and diversify your savings accounts.

4. Make room for joy — include it in your budget.

5. Talk to your partner or family about your retirement expectations.

📞 Ready to Secure and Enjoy Your Retirement?

Book a FREE retirement planning session today with Tamara’s Financial Planning & Consultancy.

We’ll help you: ✅ Maximize your savings
✅ Plan for health & lifestyle needs
✅ Diversify your income sources
✅ Create a retirement plan that fits your dreams

📩 Email: info@tamaras.co.ke
🌐 Website: www.tamaras.co.ke
📲 WhatsApp: +254 0777 675 977

“The goal is not just to retire. The goal is to retire well — and live meaningfully.”
– Tamara’s Financial Planning & Consultancy

“Your money should work as hard for your joy as you did to earn it.”