By Patricia Olivier
Year by year, on Namibia’s day of independence, we are reminded of the strength of decisions, the ability to craft our own destiny, to do things by ourselves, and to live unrestrained. Independence, at its most abstract level, lies beyond sovereignty of nations; it is a personal thing. It’s about having the ability to make choices that correspond with your vision, living your life on your terms, and creating a future where money isn’t a factor that holds you back.
But too often, however, financial freedom for most people, is something of a fantasy, something far on the horizon restricted by short-term needs and ongoing expenses. The truth is, just as a country plans, invests, and sets the foundation for its future, individuals must do the same when it comes to securing their financial future. The road to true freedom is paved with the choices we make today, choices that determine whether one day we will have to rely on someone else or if we will be able to look after ourselves, knowing that we have made the correct decisions.
Retirement is a phase of life that is meant to be filled with freedom—freedom to unwind, freedom to travel, freedom to spend time with family and friends, or freedom to pursue long-held passions. But this freedom does not happen by chance; it must be carefully and deliberately orchestrated. Saving for retirement is more than just saving cash; it is setting yourself up so that, when the moment comes, you are in the driver’s seat. It means you won’t be dependent on others to support your lifestyle, and you won’t be compelled to keep working beyond your years simply because you have no other choice.
The majority of people believe they have time—that financial independence can wait. But long-lasting buildings are built over time, brick by brick. The sooner you start saving, the more freedom you give yourself to make your own decisions later in life. By choosing to invest in a pension, a retirement annuity, or any other long-term savings plan, you are taking positive steps to seize control of your future. The beauty of financial independence is that with every step you take in the right direction, you get closer to a life of choice and not a life decreed by circumstances.
Just as Namibia’s independence came about through determination, resilience and planning, your own financial freedom will come through discipline, hard work and foresight. The sacrifices made today, by choosing to save instead of spending and planning ahead instead of hoping for the best, will ultimately determine whether you can celebrate your own financial independence when the time comes because true freedom is not what has been, but what will be.
Patricia Olivier is Corporate Segment Managing Director, Old Mutual Namibia