GACHAGA: You’ve made the money, now try keeping it

Making money is fun. Growing it is exciting. Losing it? That’s the part no one puts on Instagram. You are overwhelmed with regret, guilt and embarrassment.

Today let’s take a look first how to ensure that doesn’t happen in the first place. We have all seen it before, someone lands a lucrative job or contract (hello tenderpreneurs), cash starts flowing, lifestyle upgrades happen faster than an iOS update and before long, the “investment plan” is nothing more than a vague hope and a shoe closet.

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Making money is one thing. Keeping it is the grown-up part of the game. So, let’s talk about protecting wealth, because there’s no point building a castle if you’re going to leave the gates wide open.

Diversify like you mean it

If all your money is parked in a single stock, one currency, or one sector, you're essentially leaving it on a bench in a sandstorm and hoping it still looks decent when you return. Diversification? Not glamorous but it’s the closest thing you'll ever get to a financial seatbelt. Think of it like layers:

Asset classes: Equities, bonds, REITs, cash.
Geographies: UAE markets, Kenyan markets, global ETFs. Sure, London and New York are tempting but remember: the taxman abroad loves your gains.
Currencies: dirhams, shillings, dollars, maybe a cheeky sprinkle of euros if you want to feel continental.

Here’s the beauty of this approach: if the UAE property market decides to take a nap, your US index fund could still be doing reps. And if the shilling wakes up cranky, your USD exposure can hand you the coffee.

And for those wondering, “How do I even get into these global markets?” it's easier than you think. Standard Chartered, for example, offers a suite of global mutual funds. There are also digital platforms that let you build global portfolios with just a few taps. (Feel free to Google others that fit your vibe.)

Hedge your currency, not just your bets

Earning in dirhams, dollars, pounds, or even euros feels great… until it’s time to pay school fees, buy land, or build in shillings. Exchange rates can turn a happy plan into a sad spreadsheet real quick. To be fair, with a weakening shilling, it’s usually the opposite, you’re laughing all the way to the bank. Which makes you wonder maybe the government should take the hint, stop propping it up artificially, and let the hard currencies flow in. But I digress.

The fix? Build currency diversification into your plan from day one. Keep part of your portfolio in your home currency, part in USD and maybe sprinkle in some EUR or GBP. That way, if the shilling decides to take a midweek dive, you’re not stuck selling assets at a bad time. And if you’re sending money home regularly, don’t just wing it. Use remittance platforms that lock in good rates or let you schedule transfers when the rate’s in your favour. Trust me, timing matters more than you think.

Liquidity is king

Ever heard the phrase “asset rich, cash poor?” That’s the guy who owns three apartments, a fleet of boda bodas and a prime plot in Juja…but can’t pay his kid’s school fees without selling something. Wealth that’s locked up in illiquid assets is like a gorgeous sports car with no fuel, you can admire it, but it won’t take you anywhere in a pinch. Always keep a slice of your portfolio liquid cash, money market funds, short-term deposits. (“Manze sort me out, I will pay you back next week” … should really not be part of anyone who is serious about financial independence).

This isn’t about being lazy with your money; it’s about flexibility. Opportunities (and emergencies) don’t hang around for you to get ready. When the perfect deal shows up or life throws a curveball, you need to move fast without having to offload assets at a fire-sale price.

Estate planning: The grown-up move

We’ve all heard the horror stories: someone passes away, and suddenly the “family WhatsApp” morphs into a full-blown courtroom drama. Bank accounts frozen. Property in limbo. Siblings who haven’t spoken in years suddenly turning into part-time lawyers with Google law degrees.

So, let’s think beyond the grave. Have your affairs in order. It doesn’t have to be complicated, call your lawyer, list your assets and make it clear who should get what. And if you’re broke and think you have “nothing to leave,” buy a term life plan (my guy Leon at ICEA will sort you out). It’s not a bad idea to be there for your family financially, even if you can’t be there physically.

This isn’t about being morbid; it’s about being smart. Estate planning isn’t reserved for the “rich and famous” it’s for anyone who owns anything they don’t want locked in legal purgatory.

Don’t let lifestyle creep steal your gains

This is the silent assassin of financial plans. When the bank balance looks healthy, suddenly everything feels “deserved.” Vasha? Easy. Coasto? Just here. That Friday brunch turns into Saturday beach club, and before you know it, you’re googling “flights to Bali” instead of “best index funds 2025.”

One minute you’re saving 40 per cent of your income. The next, you’re saving screenshots of shoes you’ll wear twice and taking selfies in apartments you’ll never own.

My rule? The 50/30/20 formula and yes, it’s non-negotiable: