This archive report was first published on 22 December 2019.
Published on December 22, 2019, Evelyn K. Shuku, operations manager at Hemingways Nairobi, a luxury five-star boutique hotel, shares her journey to building wealth and getting rich.
Shuku's biggest money mistake was trusting a salesman on an education insurance product for her children, which ultimately went unpaid. She learned to always know where her money is going.
According to Shuku, the key to success lies in building routines that ensure constant progress, measuring progress, and adapting to change. She also emphasizes the importance of building a team through coaching and career development.
Shuku saves by investing in an investment account and buying land, which has yielded better returns than saving in a bank account. She advises setting specific, measurable goals and deadlines to achieve success.
Her biggest career loss was failing to instill clear goals and aims, leading to fruitless efforts. Shuku emphasizes the importance of acquiring assets, such as owning a home, to achieve financial milestones.
Shuku's biggest financial milestone was acquiring her own home through a 15-year plan with her husband. She advises creating an interest-bearing account and annualizing spending to achieve financial goals.
When it comes to business or employment, Shuku advises considering one's passion and willingness to take risks. She also notes that running a side business can be a great source of extra cash, but may not be wise if one's current position is demanding.
