Today we will address men and how the coming economic storm may consign them to early grave.
Let’s say you are a man working in a blue chip company and are aged between 35-55 years. With this company you have a generous package with a good house allowance to live in upmarket estate or on mortgage owner occupier , education allowance for kids , good medical insurance cover and a healthy car allowance that enables you to drive a top of the range SUV, with this you frequent nyama choma dens and you have a hot mistress to boot to accompany you on your various escapades.
We draw how the coming financial storm Can quickly Bring Your life to ruin, break your marriage and if not careful send you to an early grave if not a mental asylum. I am exaggerating you say. Hold on a bit. Here are the gory details.
When economic meltdown starts, we have a slowdown, company cuts down on non core functions and staff and hope economic activity picks up. That is all well but this time is different. This coming economic storm is a disaster and may last a decade and with it create a lost generation.
Let me explain why, the coming economic storm is not a cyclical slowdown, its a structural shift occasioned by many factors like government debts, costly financial sector mistake, burst boom in real estate and land speculation, technological shifts and killing of local manufacturing industry by cheap Chinese imports.
So many negative factors are at play that the government will be Unable to contain fires when they erupt. The result hundreds of thousands of men will find themselves jobless when companies shut down, close down branches of relocate out of the country.
Since most middle class lifestyle is fueled by domestic debts. Immediately the pay check terminates, most men will be unable to meet basic financial needs. Here I am addressing men of 35-55 years. Their accumulated savings can’t sustain their lifestyles for more than 6 months. Many will find themselves kicked out of rental or mortgage houses, they will be unable to afford fuel for their guzzlers, and the mistress calls will go unanswered.
Many men will find themselves in a nightmare scenario. Some are thinking I will rely on my investment,or side businesses, in an economic meltdown, the shilling will collapse and a shilling will buy less than a third of its purchasing power.
If you have rental houses, you may find yourself with less than 50% occupancy and the rent you collect, you will have to top up to pay your outstanding loans. With a falling currency, CBk will jerk up the interest rate to stem further slide of the shilling. Monthly interest rates may as well double, wiping out disposable income. Everyone will feel acute pain but the married man of 35-55 will feel the worst at being unable to provide for the family can consign men to Depression or alcoholism to drown their sorrows.
Most people will retort that they will get another job. Good paying jobs will be very Scarce in a depressed economy.
So what do you do as a man when you find yourself laid of. First and foremost, sell your guzzler, it is a liability you can’t afford, use that money to invest in an interest bearing account like treasury bills. One million invested in a 10 % treasury bill account is 8k per month, this little money ensures you don’t starve. Secondly if you live in an upmarket apartment, quickly downgrade to an affordable house In the suburbs, if you don’t do this, your household items will be auctioned. If renting a house is problematic, relocate to the rural areas while you still have savings, this is no time to play hero.
Start a business of things that can generate cashflow, avoid luxurious investment or lofty business ideas. You can start a 10 shillings business with 10 million or a 10 million business with 10 shillings. Be wise. Try as much as possible to do business where you are paid on commission basis, avoid tying too much capital in business, any extra money should be invested in liquid assets which are interest bearing.
Last and importantly be calm and live your life avoid benchmarking yourself with others, if you do, you will commit suicide. Remember the strength of a chain is at its weakest point. All bear this in mind, no one feels pity for a grown up man. You should never drown yourself in self pity. Even the most severe storms pass, even this one will pass but it will change you.
You might need to dump some friends In order to create room for new ones if you emerge at the end of the tunnel still alive.
This coming economic crisis will test the mens mettle. Wisdom and sobriety will be more needed than brute force. The goal is to emerge out of the crisis alive, one wrong move and you find yourself six feet under. You are warned stay woke. No one is immune from this crisis
Written by Samuel Kairu