Post it on his thread

DZTech:
"convert ur funds to dollars.
then-
research mutual funds or a fixed deposit account"
hope dt helps?

I'm sorry but this doesn't help. I know how mutual funds & fixed deposit works. I also shared the current rates with you, I am only trying to understand how this would benefit me and other people reading this thread who have some cash to invest & you have given me no information.

Why would I invest in mutual funds that gives me 4% returns? Fixed deposit is also trash too, at least at this current times.

DZTech:

his money would earn interest in dollars, even as naira depreciates further.
so, if warnings of a recession r true, there'll b increased demand for dollars by sept/oct for school fees, which he can sell at peak price; then buy dollars again after Christmas.
or just go into gift card sales- buy cheap, sell dear!

If we all sell our dollars to students by Oct, let's say we buy it at $1/480 sell it for $1/500 or 550. We are making 30k - 70k Naira profit.

This is good though.

DZTech:
the original post was:

Age 25 With 1 Million Naira & Living With My Parents: Buy Land Or Pack Out? by CuteVally

https://www.nairaland.com/6066900/age-25-1-million-naira/

oboy, bodi dey scrash u?

how much was d dollar equivalent of ur money in January?

how much was it in June?

how much will it be in December?

convert ur funds to dollars.
research mutual funds or a fixed deposit account- all interest payments added to d principal.
by October, ur money might have doubled (forex for schools abroad).
avoid shares, forex, crypto- unless ur a professional in the field.

if u want to invest in Nigeria, STRICT retail of FMCG is ur best bet-
make sure u hire competent staff, pay well & ensure monitoring.

good luck,
God bless

Solid

tosinhtml:


I'm sorry but this doesn't help. I know how mutual funds & fixed deposit works. I also shared the current rates with you, I am only trying to understand how this would benefit me and other people reading this thread who have some cash to invest & you have given me no information.

Why would I invest in mutual funds that gives me 4% returns? Fixed deposit is also trash too, at least at this current times.



If we all sell our dollars to students by Oct, let's say we buy it at $1/480 sell it for $1/500 or 550. We are making 30k - 70k Naira profit.

This is good though.

bros, MF or FD in dollars.
do u now get it?

cococandy:
Post it on his thread

dis topic is beyond d scope of his thread.
and I mentioned him, so all good

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