YOU HAVE WALKED QUITE A
1 FEW MILES IN THE FINANCIAL
INDUSTRY. WHAT ARE SOME OF THE
EXPERIENCES YOU HAVE PICKED UP
THAT YOU ARE ABLE TO USE AND
LIVE BY IN YOUR RETIRED LIFE?
First of all, the financial industry is quite challenging and there is a lot of knowledge and experience that you are able to pick up and live by. One such experience is the speed at which things are changing in that industry, telling me that it is not only managing time well but using time wisely and diligently. That is to say that once you procrastinate in acting, you lose a lot in terms of clientele acquisition or business opportunities, as competition is fierce. My advice is please do not say you have tomorrow, but do it immediately. Another experience is to live by your values whatever your values are and always follow your vision/purpose if you want to succeed in life.
However, by any measure or standard the financial industry faces many challenges; so do the people that work in them, but the upside of that is becoming financially literate/competent helps guide and shape the future.
2 HOW HAVE YOU SPECIFICALLY
PREPARED FOR RETIRED LIFE?
One’s life is a very important consideration as it equates to time. While you are saying “I’m young and have ample time ahead of me,” you will be caught up in this “young web” concept that’s led by emotions with little or no rationale behind it at all as you celebrate birthday after birthday, year in and year out. Here planning is imperative, as you have to plan as if there is no tomorrow, as tomorrow may not come. We are made to believe that we have two options: on the one hand saving in investment vehicles with steady but sure returns (being risk averse), while on the other hand you are a risk taker who invests in investment vehicles with high risk and high return. With me, I went the unconventional route of choosing neither. As
I received the benefits of my labour, I used it to settle any debt, as my overall end goal was by the time I retire I should be debt free. That is what I did and that served me well.
3 WOULD YOU SAY YOU ARE LIVING
A COMFORTABLE LIFE BECAUSE
OF THE CHOICES YOU MADE IN THE
PAST? WHAT ARE SOME OF THOSE
CHOICES?
Life is full of challenges and for one to make it through life you face many choices. Choice is a result of a need in one’s life. One will only live a comfortable
life if they take those challenges of life head-on – this is made possible by making the right choices. Thus I have to answer this question in the affirmative. One of the biggest choices I made in life was to obey and listen to my parents in their efforts to bring me up in the right way. Another major choice was to complete my education during the trying times at the height of the liberation struggle both in Namibia and South Africa. A further choice that impacted heavily on my career was when I chose to work for the private sector where challenges are more pronounced, where performance is greatly amplified, and where corporate governance is the motto by which every company must live by. All the abovementioned stood me in good stead in every aspect of my life, whether in business or in my personal life.
4 WHAT IS THE SINGLE BIGGEST
LESSON YOU WILL OFFER FOR FREE
TO YOUNG MEN AND WOMEN WHO
HAVE NO CLUE OF THE IMPORTANCE
OF PLANNING FOR LIFE AFTER 60
YEARS?
Life is complex and becomes more so as you mature in every aspect of your life. To go through life without planning is begging for confusion and disorder in your life. I would suggest that you do more planning than to be found wanting. Planning creates order and with order your life will be structured in such a way that you make use of time diligently and appropriately. Planning is a beacon that directs you to your purpose or vision. It is therefore important to plan more and more than not to plan at all, meaning that you will be like a rudderless ship in your life if you do not plan.
A further choice that impacted heavily on my career was when I chose to work for the private sector where challenges are more pronounced, where performance is greatly amplified, and where corporate governance is the motto by which every company must live by. All the abovementioned stood me in good stead in every aspect of my life, whether in business or in my personal life.
5 IS THERE EVER A RIGHT TIME TO
START PLANNING FOR ONE’S
FUTURE?
I believe there is a right time to start planning: mainly when one starts making independent decisions for yourself. At that juncture of your life, you are facing choices and once you make choices to do something or to meet your needs, it becomes a planning process. I’m of the opinion that the earlier you start planning your life the better, because you get into a groove of planning at an early age and as you progress in life it becomes part of your living.
6 IF YOU WERE GIVEN A CHANCE
TO START OVER WITH YOUR
WORKING LIFE, WHAT WOULD YOU
HAVE DONE BETTER IN TERMS OF
PLANNING FOR YOUR FUTURE?
Planning makes complex life easier and simpler to live. That is the experience I went through in life. Planning is a structured process from A to B, where B is a better place to be. Planning is a must in anyone’s life, because it places one in a position where you systematically implement your plan in order to achieve your purpose in life. If I were to be given a chance to start over again, now that I have experience and skills, whatever I do will be structured and executed in such a way that the outcome/results are reached in a shorter and quicker time.
7 HOW IMPORTANT IS IT TO BE
FINANCIALLY LITERATE IN NAMIBIA
TODAY?
Life, business or any activity resolves around finance. Financial literacy makes the life of any person easier as, firstly, you will know how to raise or access funds.
Secondly, you will be able to differentiate between investment options that are available in the market.
Thirdly, if you are knowledgeable on finance, nobody will come and sell you a product that is not worth the paper it’s written on. At the end of the day, when the majority of Namibians are financially literate, country savings will improve, living standards in the country will be better and the propensity to save will be higher, fueling economic growth – with many people becoming financially independent, poverty will be reduced and per capita income will enhance economic growth and stability
HOW IMPORTANT HAS FINANCIAL
8 LITERACY BEEN IN YOUR LIFE?
Although an economist and not a finance person per se, I had substantial exposure to finance given by my employment career. All my planning throughout my career was about finance – that’s what made my life tick. Financial literacy though challenges has made me financially independent. I could discern between a good and bad financial deal. I was able to invest in those investment vehicles that brought higher financial returns for the company and in turn helped me grow in my career.
IN YOUR OPINION, WHAT SHOULD BE
9 DONE TO IMPROVE THE FINANCIAL
LITERACY LEVELS OF THE NAMIBIAN
PEOPLE?
As far as I’m concerned, there is one major option that we in Namibia have to exercise – countrywide adult financial education as a part of a generation of Namibians have lost an opportunity in the area of finance. I believe financial experts will be able to design simple financial courses that will enable that lost generation to get the necessary financial exposure and catch up on that opportunity. The spin-off of this exercise will be huge economically by reducing poverty and dependence on handouts, and increased disposable income in the country, which will
eventually increase business opportunities, increase employment levels and expand the tax base, resulting in growth in the economy.
WHAT IS YOUR PERSONAL VIEW OF
10 A FINANCIALLY STABLE SOCIETY?
A stable society has multiple opportunities in any country. The best ingredients for a stable society is peace, opportunities to quality education, business, independent thinking, innovation, justice, health, sound environment and prosperous society with sound economic growth and development.