Why You Will Never Become a Millionaire in Kenya


Most articles will always come up with convincing stories on how to become a millionaire in Kenya, rarely would you read an article touching on things that prevent people from becoming millionaires. If your life has stagnated and of course the dream of becoming a millionaire has died, below are the reasons you are poor.

  1. The person you married

Your marriage partner will either make you a millionaire or poor depending on various factors. If you marry a lazy and extravagant woman, most of your resources will be diverted into maintaining her, little will remain to save. If your husband is lazy, you will definitely end up being poor.

  1. Wrong career path

If you select a wrong career path, you’ll definitely not make it to the millionaire club. Careers like teaching, front office and customer care will not take you anywhere. For instance, a teacher earns Ksh 35,000. With this salary, how long will it take for him to accumulate Ksh10 million? perharps forever.

Some of the careers that will make you a millionaire include; Piloting, Law, Medicine, Actuarial Science, Software Engineering, Architecture and Finance.

  1. You fear to invest

We have human beings who don’t value investments. If you tell this person to invest in the stock market, he will tell flatly reject the idea. There is now way you will grow if you can’t invest especially on risk ventures.

  1. Your friends

The friends you attract to your life will majorly determine how far you’ll go in terms of wealth creation. Assuming that all your friends are alcoholic, they love women and are extravagant, there is no way you will develop because they will certainly influence your thoughts and spending habits. There is that one particular friend you’ll acquire who is well connected and focused, he will for sure pull you into becoming a millionaire.

  1. You live beyond your means

I have a friend who earns Ksh 100,000 per month, he has a car, he pays a rent of Ksh30,000 and school fees of Ksh30,000 per term. His monthly expenses are Ksh80,000. Since after tax, his net pay is Ksh74,000, he remains in debt month in month out. With this kind of lifestyle, there is no way an individual can develop.

Living beyond your means is one way you can kill all your financial dreams.

  1. Loans and debts

If you are constantly in debt, chances are that you will remain with little to save. For you to become a millionaire, you have to clear your loans so as to remain with money to save.

  1. Poor spending habits

There are people in Kenya who don’t budget on their spending. The obvious example is those who take alcohol. Someone will go to a pub with Ksh 10,000 where he says, “let me spend Ksh1,000 only and save the rest tomorrow”, but after meeting friends, he will pay for everyone to make them happy. If one is not disciplined in regards to spending, there is little they can save.

  1. Helping every relative

One thing that can ground you forever is when you take your relatives burdens as yours. Your brother has 10 children, your sister has six children, your aunt has two children, you take them all, start feeding them, paying school fees and doing everything at your disposal to ensure everybody is happy. Let me tell you one thing, you will do all these but at the end of the day, nobody will appreciate. Furthermore, you’ll end up being poor and desperate. It’s good to mind your business, grow yourself and prosper as the lazy relatives watch—we live once, make yourself happy first before you impress others.

  1. Type of business you pursue

There are businesses which do not grow, such as MPESA shop, general shop, selling newspapers, selling samosa and sausage etc. In your village, I am sure you have seen someone doing something repetitively for decades, he has grown old but has not managed to rescue himself from poverty. The type of business you choose to start will determine whether you’ll become a millionaire or not.

  1. Always looking for employment

There are people who never settle, they are always looking for employment even when they already have stable jobs. It should reach a time when you accept what you have and make use of it. Lack of settling in one place will hinder you from planning ahead. To become a millionaire, settle early, start saving, invest and grow your business. When you are always looking for the job, your mind is not settled, hence lack of ideas for financial growth.

  1. You never take risks

I know of a person who refused to take up a military position because he feared he would be sent to Somalia, nowadays he is working as a watchman. There is another friend who had Ksh100,000 that he wanted to invest with.I told him to invest in Safaricom shares—it was in 2008 when the share was Ksh 4.The man refused to invest saying that Safaricom will collapse, he squandered the money—-he is poor as we speak.

The most risk tasks bear the greatest returns, where you think it’s safe, the competition is high and returns are low.