4601CE:

Exactly what they told me before I ran away
All my FG savings bond are with them though.

It was N10 million around 2006.

How much did they accept for your bond investment

emmanuelewumi:


It was N10 million around 2006.

How much did they accept for your bond investment

There are no charges for the FG savings bond investment .
But I can’t trade stocks with that account they opened for me.

ezra01:


please help a brother I will love to learn... please I m not employed I need a hustle.
please help me

There is nothing to 'learn' really. Identify your skills, stuff you can do... go online and search far and wide for people that need such skills. Contact them, if you get a response follow up with whatever tests they need to conduct to verify you possess the skills you claim you possess. If you pass, you are hired. It's just like applying to any physical job, only difference is your meeting point is online. Good luck

4601CE:

Exactly what they told me before I ran away
All my FG savings bond are with them though.

The N5 million can be in shares, cash or combination of shares and cash.

emmanuelewumi:


I use 4 stock broking houses.

1. FSDH Securities

2. Investment One Stockbrokers

3. United Capital Securities

4. Union Capital Market.

With a minimum of N50,000 you can open an account with Investment One, United Capital and Union Capital Market. Except FSDH Securities which requires a minimum of N5 million.

Dangote cement is currently selling at N140, paid a dividend of N16 last year. If the company pays the same dividend of N16 by April 2020 this will give you a dividend yield of about 11%

We have an infrastructural deficits in the country, government is currently using cements for road constructions, bridges, houses.
Some of the management staff of Dangote cement have increased their shareholdings between last year and now. This shows that they are confident about the growth of the business.


MTN at N105 and below is also okay, you are sure of a minimum dividend of N11. They have also given license to operate a form of banking business for unbanked Nigerians

Thanks for the info, much appreciated. I'll try with 50k lol .

[quote author=Lizzyab post=85163283]

There is nothing to 'learn' really. Identify your skills, stuff you can do... go online and search far and wide for people that need such skills. Contact them, if you get a response follow up with whatever tests they need to conduct to verify you possess the skills you claim you possess. If you pass, you are hired. It's just like applying to any physical job, only difference is your meeting point is online. Good luck[/quote
thanks so much for your quick response... I will start making research. God bless you

pls bosses, I need ur insight..

I graduated from d university ard February dis year n den started a grocery store biz in my area around April wic has been successful so far cos I earn at least 3k per day of wic am open for business everyday even on Sundays.
wen I started d biz, I had some money left in m account wic I used to buy 3plots of land, currently am developing a plot of land by building a 3 bedroom flat of 2units cos I want to rent out one while I live in d other.
I started d building cos I wanted to secure d land n also because I want to leave my parents house in maybe 2-3 years time, n I don't want to leave to a place whr I will b renting, I hate wasting money.

My problem rite nw is dat, I v spent almost 800k (plus d biz start up capital) for d building project wic has made my business to b stagnant (not swindling) cos am still in stock with d major things my customers needs tho (am running d biz on d profit of 8months).

My question is, should I postpone d building project for now, n focus on d biz to mk it grow or shud I jus continue wit d building project ?

PS : started t-bills last yr February wit 2million naira but opted out dis yr after school wen I tot of a biz wit better R.O.I

Am currently a Nysc youth corp member so allawee too has been helpful.

You graduated from the University around February and NOT got out of the University. Until when I read everything that you are a corp member, I thought you dropped out of the University.

You should not use your business capital to build a house. Rather you should use part of the profit from your business to build a house. I don't know how big your business is, I don't know how big the house you are building is. But I am sure you will spend a minimum of N3 million trying to build a low cost house.

Why don't you have a 5 to 6 years plan for the building of your house, so that you can free cash for the expansion of your business.

The N3000 you quoted, is that your revenue per day or your profit per day. Because a lot of small business owners usually make the mistake of equating revenue with profit.

You did not make a mistake by terminating your Treasury Bill and using the proceeds as the seed capital for your business. Most especially as the business is growing and sustainable, according to your write up.

ikmontana:
pls bosses, I need ur insight..

I got out of university ard February dis year n den started a grocery store biz in my area around April wic has been successful so far cos I earn at least 3k per day of wic am open for business everyday even on Sundays.
wen I started d biz, I had some money left in m account wic I used to buy 3plots of land, currently am developing a plot of land by building a 3 bedroom flat of 2units cos I want to rent out one while I live in d other.
I started d building cos I wanted to secure d land n also because I want to leave my parents house in maybe 2-3 years time, n I don't want to leave to a place whr I will b renting, I hate wasting money.

My problem rite nw is dat, I v spent almost 800k (plus d biz start up capital) for d building project wic has made my business to b stagnant (not swindling) cos am still in stock with d major things my customers needs tho (am running d biz on d profit of 8months).

My question is, should I postpone d building project for now, n focus on d biz to mk it grow or shud I jus continue wit d building project ?

PS : started t-bills last yr February wit 2million naira but opted out dis yr after school wen I tot of a biz wit better R.O.I

Am currently a Nysc youth corp member so allawee too has been helpful.

Building a house at this point of your financial journey is an emotional investment. While buying a land is good, using your business capital to build a house is not. I guess it's because of the Nigerian thing of "I am a landlord."

Bro, go back to the drawing board. If you continue this way, the house won't be finished to taste and the business would be deprived of funds.

I suggest that you grow the business really big and use the funds to expand the business. That way, you can build several houses from the profit of your business and not your capital.

MrMcJay:


Building a house at this point of your financial journey is an emotional investment. While buying a land is good, using your business capital to build a house is not. I guess it's because of the Nigerian thing of "I am a landlord."

Bro, go back to the drawing board. If you continue this way, the house won't be finished to taste and the business would be deprived of funds.

I suggest that you grow the business really big and use the funds to expand the business. That way, you can build several houses from the profit of your business and not your capital.

thanks for ur response boss.

I jus tot I shud build as profit comes at least to roofing level, cos most times no condition is permanent esp wen life jus happens.

emmanuelewumi:
You graduated from the University around February and NOT got out of the University. Until when I read everything that you are a corp member, I thought you dropped out of the University.

You should not use your business capital to build a house. Rather you should use part of the profit from your business to build a house. I don't know how big your business is, I don't know how big the house you are building is. But I am sure you will spend a minimum of N3 million trying to build a low cost house.

Why don't you have a 5 to 6 years plan for the building of your house, so that you can free cash for the expansion of your business.

The N3000 you quoted, is that your revenue per day or your profit per day. Because a lot of small business owners usually make the mistake of equating revenue with profit.

You did not make a mistake by terminating your Treasury Bill and using the proceeds as the seed capital for your business. Most especially as the business is growing and sustainable, according to your write up.

hmm
at least revenue of 3k sometimes 4-5k per day not profit, cos I feed from d biz (i eat a lot) n pay a sales rep 11k per month, n fuel of #300 per day I.e 9k per month.

tanx for ur response boss.

ikmontana:
hmm
at least revenue of 3k sometimes 4-5k per day not profit, cos I feed from d biz (i eat a lot) n pay a sales rep 11k per month, n fuel of #300 per day I.e 9k per month.

tanx for ur response boss.

How much is the rent of your shop, utility bills and others. How much is the initial capital used in starting the business.

Average of N3000 per day will give a moderate turnover of N1 million per annum, depending on the profit margin of your business, you should be making a profit of between 300k and 400k per annum, not bad for a small business that started less than a year

emmanuelewumi:


How much is the rent of your shop, utility bills and others. How much is the initial capital used in starting the business.

Average of N3000 per day will give a moderate turnover of N1 million per annum, depending on the profit margin of your business, you should be making a profit of between 300k and 400k per annum, not bad for a small business that started less than a year

Rent is 4k per month, NEPA is 1k per month.
I can't really remember my start up capital n it because I don't remember d amount of goods I bought den.

I built d shop from scratch tho like 160k

start up capital is close to or a little over 1 million naira (fridge 96k, Generator 22k, goods plus oda expenses)

emmanuelewumi:


How much is the rent of your shop, utility bills and others. How much is the initial capital used in starting the business.

Average of N3000 per day will give a moderate turnover of N1 million per annum, depending on the profit margin of your business, you should be making a profit of between 300k and 400k per annum, not bad for a small business that started less than a year

d profit is like dat because people have been patronising me based on d fact dat am a guy trying to hustle for a comfortable life.
n again d shop is at a good location, u can't pass dat road without noticing me.

ikmontana:
Rent is 4k per month, NEPA is 1k per month.
I can't really remember my start up capital n it because I don't remember d amount of goods I bought den.

I built d shop from scratch tho like 160k

start up capital is over 1 million naira (fridge 96k, Generator 22k, goods plus others)

Assuming the start up capital is N1.5 Million, profit of between 300k to 500k per annum is not bad.
Most of the profit should be reinvested for the growth of the business.

Record keeping is very important, too bad you can't remember the start up capital of your busines. You should place yourself on a salary payable by the business.

Make sure all your revenues are paid into the bank and later withdrawn for the running of the business, this will help you when you need loans from the bank for the expansion of the business and to take the business to the next level.

You will succeed.

Nigsrdumb:


Thanks for the info, much appreciated. I'll try with 50k lol .

Fear Fear

Dr. Tayo Oyedeji
@tayooye

Let's talk about investments (part 1) - Three investment "instruments" to avoid:

1. Forex Trading.
2. Sport betting.
3. Crypto-currencies.

.1. FOREX


1. Let's say I have a model for gaining 5% or more return per month. And this model is a zero sum game (like Forex trading).

Why in the world would I teach anyone else my model?

That's the question you need to ask before signing up for a Forex trading class.

1.2 FOREX

Why is this person selling a book/teaching course if they can make 60% return per annum?

It's because they don't make 60% a year. Nobody does.

Someone said 90% of Forex traders make a loss 90% of the time.

Don't be deceived. Most traders lose money in the long run.

1.3 FOREX

Here's a deep dive into why Forex trading as a path to financial security is a mirage.
2.1 CRYPTO

Money is:
1. A means of exchange.
2. A store of value.

Crypto currencies fail both tests.
1. I can't exchange it for most things.
2. It changes value arbitrarily.

Maybe it will become valuable in the future; maybe it won't.

It's NOT an investment. It's speculation.

2.2 CRYPTO

I could write a thesis on the flaws of cryptocurrency "investing" but it won't be as good as this absolute takedown of the madness by Mr. Money Moustache.

Read it.
Why Bitcoin is Stupid
Well, shit. I’ve been watching this situation for a few years, and assuming it would just blow over so we wouldn’t have to talk about it here in this place where we are supposed to be b…
mrmoneymustache.com

3.1 Sport betting.

The ONLY people who get rich from gambling are casino owners.

The ONLY people who get rich from sport betting are platform owners.

3.2 Sport betting

If you live in Africa or the Caribbeans, walk around your neighborhood. It's filled with sport betting addicts in tattered cloths and betting platform owners in BMWs.

Sport betting steals money from the most vulnerable to top up the pockets of millionaires.

Sport betting.

Please. Don't even bet for fun.

It's a cancer that is destroying communities and neighborhoods.

Bottom line.

Avoid:

1. Forex Trading.
2. Sport betting.
3. Crypto-currencies.

They are not good models for investing for your future.

DaBogu:
Dr. Tayo Oyedeji
@tayooye

Let's talk about investments (part 1) - Three investment "instruments" to avoid:

1. Forex Trading.
2. Sport betting.
3. Crypto-currencies.......

This was very insightful. I had made persistent loses before and thought it was a problem with me. Thanks for the enlightenment

emmanuelewumi:


Assuming the start up capital is N1.5 Million, profit of between 300k to 500k per annum is not bad.
Most of the profit should be reinvested for the growth of the business.

Record keeping is very important, too bad you can't remember the start up capital of your busines. You should place yourself on a salary payable by the business.

Make sure all your revenues are paid into the bank and later withdrawn for the running of the business, this will help you when you need loans from the bank for the expansion of the business and to take the business to the next level.

You will succeed.

tanx sir

but I don't understand d LOAN part ?

hop d interest is not much ?

Is collateral involve ?

I operate FBN n Stanbic Ibtc bank.

quote author=DaBogu post=85176215]Dr. Tayo Oyedeji
@tayooye

Let's talk about investments (part 1) - Three investment "instruments" to avoid:

1. Forex Trading.
2. Sport betting.
3. Crypto-currencies.

.1. FOREX


1. Let's say I have a model for gaining 5% or more return per month. And this model is a zero sum game (like Forex trading).

Why in the world would I teach anyone else my model?

That's the question you need to ask before signing up for a Forex trading class.

1.2 FOREX

Why is this person selling a book/teaching course if they can make 60% return per annum?

It's because they don't make 60% a year. Nobody does.

Someone said 90% of Forex traders make a loss 90% of the time.

Don't be deceived. Most traders lose money in the long run.

1.3 FOREX

Here's a deep dive into why Forex trading as a path to financial security is a mirage.
2.1 CRYPTO

Money is:
1. A means of exchange.
2. A store of value.

Crypto currencies fail both tests.
1. I can't exchange it for most things.
2. It changes value arbitrarily.

Maybe it will become valuable in the future; maybe it won't.

It's NOT an investment. It's speculation.

2.2 CRYPTO

I could write a thesis on the flaws of cryptocurrency "investing" but it won't be as good as this absolute takedown of the madness by Mr. Money Moustache.

Read it.
Why Bitcoin is Stupid
Well, shit. I’ve been watching this situation for a few years, and assuming it would just blow over so we wouldn’t have to talk about it here in this place where we are supposed to be b…
mrmoneymustache.com

3.1 Sport betting.

The ONLY people who get rich from gambling are casino owners.

The ONLY people who get rich from sport betting are platform owners.

3.2 Sport betting

If you live in Africa or the Caribbeans, walk around your neighborhood. It's filled with sport betting addicts in tattered cloths and betting platform owners in BMWs.

Sport betting steals money from the most vulnerable to top up the pockets of millionaires.

Sport betting.

Please. Don't even bet for fun.

It's a cancer that is destroying communities and neighborhoods.

Bottom line.

Avoid:

1. Forex Trading.
2. Sport betting.
3. Crypto-currencies.

They are not good models for investing for your future.[/quote]

Thanks for sharing. Thank God, I don't do forex trading and sport betting. Because of my old school and conservative nature, I am yet to understand cryto currency and because of this I have not invested in it.

Building wealth is a marathon and not a sprint. Marathon requires discipline, focus, practice and consistency.

DaBogu:
Dr. Tayo Oyedeji
@tayooye

Let's talk about investments (part 1) - Three investment "instruments" to avoid:

1. Forex Trading.
2. Sport betting.
3. Crypto-currencies.

.1. FOREX


1. Let's say I have a model for gaining 5% or more return per month. And this model is a zero sum game (like Forex trading).

Why in the world would I teach anyone else my model?

That's the question you need to ask before signing up for a Forex trading class.

1.2 FOREX

Why is this person selling a book/teaching course if they can make 60% return per annum?

It's because they don't make 60% a year. Nobody does.

Someone said 90% of Forex traders make a loss 90% of the time.

Don't be deceived. Most traders lose money in the long run.

1.3 FOREX

Here's a deep dive into why Forex trading as a path to financial security is a mirage.
2.1 CRYPTO

Money is:
1. A means of exchange.
2. A store of value.

Crypto currencies fail both tests.
1. I can't exchange it for most things.
2. It changes value arbitrarily.

Maybe it will become valuable in the future; maybe it won't.

It's NOT an investment. It's speculation.

2.2 CRYPTO

I could write a thesis on the flaws of cryptocurrency "investing" but it won't be as good as this absolute takedown of the madness by Mr. Money Moustache.

Read it.
Why Bitcoin is Stupid
Well, shit. I’ve been watching this situation for a few years, and assuming it would just blow over so we wouldn’t have to talk about it here in this place where we are supposed to be b…
mrmoneymustache.com

3.1 Sport betting.

The ONLY people who get rich from gambling are casino owners.

The ONLY people who get rich from sport betting are platform owners.

3.2 Sport betting

If you live in Africa or the Caribbeans, walk around your neighborhood. It's filled with sport betting addicts in tattered cloths and betting platform owners in BMWs.

Sport betting steals money from the most vulnerable to top up the pockets of millionaires.

Sport betting.

Please. Don't even bet for fun.

It's a cancer that is destroying communities and neighborhoods.

Bottom line.

Avoid:

1. Forex Trading.
2. Sport betting.
3. Crypto-currencies.

They are not good models for investing for your future.

Somebody already countered him on twitter and he backtracked with the whole its not everybody that should do it talk

The thing with forex,stock,crypto etc is that they are volatile money markets.Money comes in as they go so this tends to make it difficult for people to really consolidate their wealth. If you are looking to make double of your wealth at a go,then you might as well go use that money and drink beer cause you're going to lose it all

Bottom line is this.If you want to go into forex and the likes,you must make reading a hobby and must be willing to be vast in economic knowledge.Information is key/life of such investment patterns

Looking for an investment platform with high rates?Look no further, LAPOmfb got you covered with rates of fixed deposit as high as 14% per annum..Our FD product have different maturity period ranging from 30,60,90,180 and 365 days. For detailed info,contact me via my SIG.

Adiwana:


Somebody already countered him on twitter and he backtracked with the whole its not everybody that should do it talk

The thing with forex,stock,crypto etc is that they are volatile money markets.Money comes in as they go so this tends to make it difficult for people to really consolidate their wealth. If you are looking to make double of your wealth at a go,then you might as well go use that money and drink beer cause you're going to lose it all

Bottom line is this.If you want to go into forex and the likes,you must make reading a hobby and must be willing to be vast in economic knowledge.Information is key/life of such investment patterns

You also need to consider the probability of succeeding and the percentage of participants who are successful and have been consistent with their success in that investment.

Most of the people marketing forex trading investments make money organising forex trading trainings and seminars than from the forex trading itself.

In wealth building, slow but steady wins the race most of the cases

As investors or as people who seek financial freedom what we all need is to adopt a growth mentality, succcess is not spiritual neither it is God given.

It all starts with the realization that our abilities, skills, finances, status, knowhow is not fixed, that anyone can grow by learning new skills, acquiring usefull information, improving in some way.

The greatest power of all is the ability to learn. Well, this is my opinion.

Ibrahim505:
Pls is there any stockbroker that allow their client to solely trade online as in online forex trading?

Investment one. Check my signature for details

Adiwana:


Somebody already countered him on twitter and he backtracked with the whole its not everybody that should do it talk

The thing with forex,stock,crypto etc is that they are volatile money markets.Money comes in as they go so this tends to make it difficult for people to really consolidate their wealth. If you are looking to make double of your wealth at a go,then you might as well go use that money and drink beer cause you're going to lose it all

Bottom line is this.If you want to go into forex and the likes,you must make reading a hobby and must be willing to be vast in economic knowledge.Information is key/life of such investment patterns

Let me not talk about Binary Option and the high risk involved but you if you understand the candles pattern and subdue your emotions. You will be in daily profits.

MrMcJay:
Most drivers that accept vehicles or motorcycles for transportation intend cheating the owners of such vehicle or motorcycles. Their daily operations, activities and stories are geared towards achieving their ulterior motive: cheating the owner.

To reduce incidents of this happening,
1. Favour hire purchase over rentals.
2. Let the hirer pay some deposit (10%) which forms part of the hire purchase sum before you hand over the vehicle to begin work.
3. Let the hirer provide 2 guarantors, one of which must be a Civil servant.
4. Make sure you don't buy what you can't track. Install a tracker but don't tell the driver. This is hard in keke and bikes.
5. Ensure comprehensive insurance but don't tell the driver.
6. Hire only to young guys without family obligations.

If you can get someone who can fulfil the above obligations, at least your headache would reduce.

If you can't ensure you satisfy the above, use your money and buy local chicken to eat. At least, it's better you eat your money than someone else eating it.

I doubt if stock is in the same class/category as Forex and Crypto. Stock, particularly stock investing not trading, is a form of investment. I stand to be corrected.

[/b]Edit: Maybe better put as long-term investing in dividend-paying stock is a form of investment.[b]

Adiwana:


Somebody already countered him on twitter and he backtracked with the whole its not everybody that should do it talk

The thing with forex,[/b]stock[b],crypto etc is that they are volatile money markets.Money comes in as they go so this tends to make it difficult for people to really consolidate their wealth. If you are looking to make double of your wealth at a go,then you might as well go use that money and drink beer cause you're going to lose it all

Bottom line is this.If you want to go into forex and the likes,you must make reading a hobby and must be willing to be vast in economic knowledge.Information is key/life of such investment patterns

Merry Christmas to you all! & Happy Holidays!

Lizzyab:
Also, these agric startups with promises of astronomical returns (20%-30% in 6 months).... Which do you know of that are legitimate and running ALREADY and have paid these dividends ALREADY? I KNOW that agriculture and food is a sure banker but which company can be trusted? Because I am yet to understand how I am protected in the event something goes wrong along the way... who will refund me lol? I have also witnessed so many mechanized farms fold up, any leads?

Never do business where you have to give your money to someone to do something for you. It's one of the highest venue that Thousands of Nigerians have lost their money and the history keep repeating itself.

I will never give someone my money to do business for me. If I cant do it myself, I will keep it.

Quorax:


Never do business where you have to give your money to someone to do something for you. It's one of the highest venue that Thousands of Nigerians have lost their money and the history keep repeating itself.

I will never give someone my money to do business for me. If I cant do it myself, I will keep it.

Your statement does not hold water. Invest according to your risk appetite. There is nothing wrong with giving money to companies or individuals to do business for you as long as due diligence has been done.
Go and read the book called the richest man in Babylon(5 laws of Gold) . You do not create wealth by keeping your money, you create wealth by taking risks with it. Thousands of Nigerians have lost their money and millions of Nigerians have also multiplied their money through this method. People will always loose money while others will also make money. Nobody can create wealth without losing wealth initially.