Nearly a decade ago I spoke against Ponzi schemes and wrote about Innovation as the path to making large financial jumps. I also advised financial education rather than jumping into every financial scheme that crops up. Those who heeded my call found I saved them thousands and millions, while those who didn't were burnt.

True financial freedom needs active education, and I always implore voyagers to seek these foundation on their path to financial success. Keep your money in your bank account will be the best advise, if you know nothing about investment, as not losing money is the first rule of this game. What I see people do is put money in one Ponzi Scheme that crashes, and then run looking for the next scheme that pays. Over a decade many of these set of people find themselves at exactly where they started financially. A second set of people are not greedy, but have not acquired as much knowledge and information, so they put their money in well packaged disguised Ponzi schemes and find the same result as the first set. The last set have incomplete information, they invest in worthy ventures, but treat investment as saving and gain very little. Some also end up relatively well, but go back to square one when crisis that demands money like losing a job or sorting out an emergency crops up.

I spoke about Innovation, but found that not everyone will be able to open a company or the fastest growing start up, and for those who do, nearly half of their businesses do not celebrate an anniversary. For those who scale through a year, almost 80 percent switch trade by the fifth year. This is frustrating and can make real people loose faith on staying the course to financial freedom.

While most of us will not open the next Amazon, twitter or Facebook, almost all of us can increase our potential to earn and to be valuable. Thus the potential to earn an income including the correct financial mindset is the first step to building true and lasting wealth.

The aim is to walk you through that path like I walked many awhile ago, and leave you to carry on your own voyage at your own pace.

You'll learn to kill greed, which is the number one killer of wealth. Know where to keep every Naira you get, and know how to grow those idle cash that you have. What I will not do is to recommend any institution or financial scheme, or ask you for a kobo.

If you fancy this then we may begin

PonziHater

sgtponzihater1:
Nearly a decade ago I spoke against Ponzi schemes and wrote about Innovation as the path to making large financial jumps. I also advised financial education rather than jumping into every financial scheme that crops up. Those who heeded my call found I saved them thousands and millions, while those who didn't were burnt.

True financial freedom needs active education, and I always implore voyagers to seek these foundation on their path to financial success. Keep your money in your bank account will be the best advise, if you know nothing about investment, as not losing money is the first rule of this game. What I see people do is put money in one Ponzi Scheme that crashes, and then run looking for the next scheme that pays. Over a decade many of these set of people find themselves at exactly where they started financially. A second set of people are not greedy, but have not acquired as much knowledge and information, so they put their money in well packaged disguised Ponzi schemes and find the same result as the first set. The last set have incomplete information, they invest in worthy ventures, but treat investment as saving and gain very little. Some also end up relatively well, but go back to square one when crisis that demands money like losing a job or sorting out an emergency crops up.

I spoke about Innovation, but found that not everyone will be able to open a company or the fastest growing start up, and for those who do, nearly half of their businesses do not celebrate an anniversary. For those who scale through a year, almost 80 percent switch trade by the fifth year. This is frustrating and can make real people loose faith on staying the course to financial freedom.

While most of us will not open the next Amazon, twitter or Facebook, almost all of us can increase our potential to earn and to be valuable. Thus the potential to earn an income including the correct financial mindset is the first step to building true and lasting wealth.

The aim is to walk you through that path like I walked many awhile ago, and leave you to carry on your own voyage at your own pace.

You'll learn to kill greed, which is the number killer of wealth. Know where to keep every Naira you get, and know how to grow those idle cash that you have. What I will not do is to recommend any institution or financial scheme, or ask you for a kobo.

If you fancy this then we may begin

PonziHater

Following

I think the very first step is fixing our mindset. Sadly Nigerians have generally muddled up mindset about wealth and finances. Our value for money is largely poor and skewed. People with no steady income call 50million Naira Chicken change. We largely do not introspect, but rather look up to reel out Dangote's or Otedola's net worth, while in reality only a fraction of us will attain that level of wealth, and very few of us need to be that wealthy to live our best life. Even the not so Rich have very little value for money. If a Briton is told a shirt is say £50, the average British will check the quality of that shirt first before committing to parting with their money. But I have seen the average Nigerian buy overpriced goods without putting value on the money they are loosing. Seller can infact dish out random prices, and majority of people will part with their money even when the numbers do not add up.

Asking everyone to think the same way is an impossible ask, and will be a threat to our individuality, but I believe a few general template must be followed by all who pursue sincere wealth and I briefly highlight these below.............

Continue my Sgt!

choo:
Continue my Sgt!

Thanks will update soon

Rule Number One " if you don't plan your finances properly someone will". I was chilling sipping red wine when an old secondary school acquaintance contacted me with a sense of urgency. He needed to start a business ASAP and would need about 450k, as soon as the business is sealed he'll pay me back. This is a few example of how people loose their money. People who have no financial plan loose their financial capital to people who plan their finances for them. I see most people moving with the wind, their financial decision is impulsive and based on the opinion of others or messages they read over the internet. I simply told that folk I have no money, as in sincerely I had no money allocated for such and we bade ourselves goodbye till this day. I was glad I have not fallen for the cheapest financial scam in history.


Rule Number 2: " Greed and achieving true wealth are opposite end of the spectrum": No true wealth can be achieved by greed. People want to make massive gains at once without climbing up the ladder. I have been an avid member of the mutual fund group on Nairaland since it's inception and over the course of staying on that group, I have noticed the greediest set of people. People who say things like "an interest of 12% per annum is nothing and I'll rather keep my money to myself. Those people end up joining ponzi schemes that promise 20% per month, and are eventually left with a bloody nose. The cycle continue for those people as they still have their craze for quick gains untamed.

Interestingly, making 12% per annum is jackpot in the global scheme of things, and used well, can be a source of untold wealth. I stayed the course of the mutual fund era for nearly a decade when people were pulling from one fund to another, and saw myself make millions in profit alone while greedy individuals where pulling funds from one scheme to the other and being burnt from all Quarters.


Rule Number 3: " Rich for everyone is different": We all have different financial goals and objectives. The amount I need for financial freedom is different from the amount you need. Being engrossed in how much Elon Musk makes per second is a recipe for disaster. We have to introspect and determine what rich is for us. For some it's been able to own their home, go for vacation twice a year, and eat whatever meals they want without needing budget through these, some others want to own a yatch or a private jet, I never want to own those. In whatever financial goal we set, It should be objective and devoid of greed. Later on I'll show you my formula for determining these numbers, it's just my suggestion, you can adopt it or discard them.

Rule Number 4: Gaining financial Education: Many folks make financial choices based on what they read off the internet or based on what others say. Many of these information are incomplete or devoid of the reasoning behind them. Yesterday I was scrolling through SM and saw someone I presumed was financially literate requesting what the best online saving app was, this was the most embarrassing question I had seen all week from a supposed internet influencer who portrayed an aura of financial genius. Many potential investors or unlearned investors just jump from one platform to another without gaining ready information. What body regulate savings account in Nigeria?, How much does this body guarantee if that savings account goes burst? What body regulate financial and stock investment, is there a guaranteed amount? Is the saving app I am praising actually properly regulated and what happens to my money if they go burst? Am I depending on the information on their website or am I checking directly with the regulators?

For free education, bank accounts in Nigeria are regulated by the NDIC. Mainstream banks are insured up to 500k and microfinance banks up to 250k. If your account goes burst then you can be guaranteed these amount max. The NDIC has a complete list of online and offline banks they regulate, so it is usually worth taking the pain to check up whatever saving platform you wish to save with on the NDIC website before committing your money to a saving scheme that will collapse in due course.

This is just scratching the surface, but if you read on you'll well above 90% of the park, trust me.

PonziHater

sgtponzihater1:
Rule Number One " if you don't plan your finances properly someone will". I was chilling sipping red wine when an old secondary school acquaintance contacted me with a sense of urgency. He needed to start a business ASAP and would need about 450k, as soon as the business is sealed he'll pay me back. This is a few example of how people loose their money. People who have no financial plan loose their financial capital to people who plan their finances for them. I see most people moving with the wind, their financial decision is impulsive and based on the opinion of others or messages they read over the internet. I simply told that folk I have no money, as in sincerely I had no money allocated for such and we bade ourselves goodbye till this day. I was glad I have not fallen for the cheapest financial scam in history.


Rule Number 2: " Greed and achieving true wealth are opposite end of the spectrum": No true wealth can be achieved by greed. People want to make massive gains at once without climbing up the ladder. I have been an avid member of the mutual fund group on Nairaland since it's inception and over the course of staying on that group, I have noticed the greediest set of people. People who say things like "an interest of 12% per annum is nothing and I'll rather keep my money to myself. Those people end up joining ponzi schemes that promise 20% per month, and are eventually left with a bloody nose. The cycle continue for those people as they still have their craze for quick gains untamed.

Interestingly, making 12% per annum is jackpot in the global scheme of things, and used well, can be a source of untold wealth. I stayed the course of the mutual fund era for nearly a decade when people were pulling from one fund to another, and saw myself make millions in profit alone while greedy individuals where pulling funds from one scheme to the other and being burnt from all Quarters.


Rule Number 3: " Rich for everyone is different": We all have different financial goals and objectives. The amount I need for financial freedom is different from the amount you need. Being engrossed in how much Elon Musk makes per second is a recipe for disaster. We have to introspect and determine what rich is for us. For some it's been able to own their home, go for vacation twice a year, and eat whatever meals they want without needing budget through these, some others want to own a yatch or a private jet, I never want to own those. In whatever financial goal we set, It should be objective and devoid of greed. Later on I'll show you my formula for determining these numbers, it's just my suggestion, you can adopt it or discard them.

Rule Number 4: Gaining financial Education: Many folks make financial choices based on what they read off the internet or based on what others say. Many of these information are incomplete or devoid of the reasoning behind them. Yesterday I was scrolling through SM and saw someone I presumed was financially literate requesting what the best online saving app was, this was the most embarrassing question I had seen all week from a supposed internet influencer who portrayed an aura of financial genius. Many potential investors or unlearned investors just jump from one platform to another without gaining ready information. What body regulate savings account in Nigeria?, How much does this body guarantee if that savings account goes burst? What body regulate financial and stock investment, is there a guaranteed amount? Is the saving app I am praising actually properly regulated and what happens to my money if they go burst? Am I depending on the information on their website or am I checking directly with the regulators?

For free education, bank accounts in Nigeria are regulated by the NDIC. Mainstream banks are insured up to 500k and microfinance banks up to 250k. If your account goes burst then you can be guaranteed these amount max. The NDIC has a complete list of online and offline banks they regulate, so it is usually worth taking the pain of checking up whatever saving platform you wish to save with on the NDIC website before committing your money to a saving scheme that will collapse in due course.

This is just scratching the surface, but if you read on you'll well above 90% of the park, trust me.

PonziHater

I wish I can like this 1000 times.

Most of us want to be rich overnight. We want to look rich without actually being rich. Hence, we cut corners.

Fire on!!

It would be good to know if you've read and what your thoughts are so far.

PonziHater

Very educative... Boss please be my mentor... Am ready to ride on your wings. 08142405191 is my WhatsApp number.. my name is Andrew sir

PonziHater