Hamachi:
What if the retiree does not live up to 20yrs what happens?

His or her beneficiaries will get the balance

Lazyyouth4u:


Go to any of the SEC registered investment houses that manage mutual funds. They can offer you a product that allows you to deposit funds that are compounded along with the interest until you decide to withdraw.

Not many of them guarantee capital and interest sha. And they come with risks, especially the equity mutual funds that can wipe out almost all your funds when markets are seeing red.

For preservation of capital, make sure you are not investing in the ones that sell you units of their fund but the ones that keep your money and give you returns on your capital.

In short, go with the ones that specifically state fixed income guaranteed funds and choose reinvestment of your distribution/interest for the power of compound interest. The interest rates fluctuate with the market but on average you can get 5 to 8% guaranteed. As interest rates increase, the returns also increase and vice versa.

Thanks,any idea of reputable one that has lived the taste of time not just because it has sec registration

Biafran4life:
I am looking at 1 M every year for 10 yrs at best rate available now per annum.The most important is guaranteed payback of capital and interest when matured.Wish to do it for two people to see if it can take care of education at tertiary and Masters for both.That is 2M for the two persons yearly.Looking at convanant University for both in future

FBN Quest Asset Management, United Capital Asset Management, insurance companies etc have education endorsement funds which people use to fund the education of their children

Cutehector:
depends on how much ya have

Can we talk privately sir.

cutedharmee:

Can we talk privately sir.

ok whatsapp number on my profile

Lazyyouth4u:


Go to any of the SEC registered investment houses that manage mutual funds. They can offer you a product that allows you to deposit funds that are compounded along with the interest until you decide to withdraw.

Not many of them guarantee capital and interest sha. And they come with risks, especially the equity mutual funds that can wipe out almost all your funds when markets are seeing red.

For preservation of capital, make sure you are not investing in the ones that sell you units of their fund but the ones that keep your money and give you returns on your capital.

In short, go with the ones that specifically state fixed income guaranteed funds and choose reinvestment of your distribution/interest for the power of compound interest. The interest rates fluctuate with the market but on average you can get 5 to 8% guaranteed. As interest rates increase, the returns also increase and vice versa.

They have fixed rate for the duration of the plan, the average is 10% per annum.


Anybody who is well diversified, with multiple streams of passive income might not need an educational endorsement plan in order to fund the education of his children

cutedharmee:

Can we talk privately sir.

I feel very sorry for you

Lazyyouth4u:


I feel very sorry for you

Hmmmmn!!! tanks sir

Biafran4life:
I am looking at 1 M every year for 10 yrs at best rate available now per annum.The most important is guaranteed payback of capital and interest when matured.Wish to do it for two people to see if it can take care of education at tertiary and Masters for both.That is 2M for the two persons yearly.Looking at convanant University for both in future

@ 10%, it will grow to N17.5 million in 10 years time

Good morning gurus in the house what is yesterday Tb rate.

Diyke4rich:
Good morning gurus in the house what is yesterday Tb rate.

5.5% for 364 days.

Just confirmed from Stanbic . 5.5% for 364. Has anyone been debited from stanbic?

Diyke4rich:
Good morning gurus in the house what is yesterday Tb rate.

emmanuelewumi:



@ 10%, it will grow to N17.5 million in 10 years time

ok will visit FBN again.I didn't know this then.I wanted to do in via TB.I went in at 18% then TB started crashing in rate and I stopped.And didn't really know the effect of compounded interest could be this much even if the rate stands around 10%.So I pulled the cash and bought zenith Bank at average of #16.

emmanuelewumi:



They have fixed rate for the duration of the plan, the average is 10% per annum.


Anybody who is well diversified, with multiple streams of passive income might not need an educational endorsement plan in order to fund the education of his children

Very true Sir

I opted out of Axa Mansard Education plan after 1 year of contributing due to very poor yield

The yield from my personal education plan for children I developed is 10 times the yield i was getting.

I don't blame Axa Mansard because they have bills and staff to pay....I don't have bills to pay from the plan i have except for the children fees.

Biafran4life:
ok will visit FBN again.I didn't know this then.I wanted to do in via TB.I went in at 18% then TB started crashing in rate and I stopped.And didn't really know the effect of compounded interest could be this much even if the rate stands around 10%.So I pulled the cash and bought zenith Bank at average of #16.

FBN Quest Asset Management and not FBN

emmanuelewumi:



FBN Quest Asset Management and not FBN

I thought I could reach FBN quest at FBN branch being the parent company.Or is the FBN quest not a subsidiary of FBN

Biafran4life:
I thought I could reach FBN quest at FBN branch being the parent company.Or is the FBN quest not a subsidiary of FBN

When it comes to operations priorities differ in the various units of the Holding company. Realities differ from what is on paper most times. You should be able to get FBNQuest through FBN but it may waste your time. The best thing to do is for you to be at the specific company in the Holdco that is in charge of what you need. In this case go to FBNQuest at kaffi Ikoyi.

Most of these things can now be done online, I suggest he should shoot them a mail.

emmasoft:


When it comes to operations priorities differ in the various units of the Holding company. Realities differ from what is on paper most times. You should be able to get FBNQuest through FBN but it may waste your time. The best thing to do is for you to be at the specific company in the Holdco that is in charge of what you need. In this case go to FBNQuest at kaffi Ikoyi.

NTB Mar 10th stop rates

Emndy:
NTB Mar 10th stop rates

FNB gave me 5.1%

FBN gave me 4.974

Emndy:
NTB Mar 10th stop rates

Please sir which site do you get these results so I'd follow it in real time without having to ask here always

emmanuelewumi:



Kindly included the duration of the monthly payments.

An employee can only get 25% of his contribution as gratuity, we need to know the value of their retirement savings when both workers retired.

Your contributions in the retirement savings account should be one of the various plans for retirement, unfortunately that the is biggest savings/Investment of majority of the workers. The retirement savings account is even bigger than the value of their real estate Investments

Apologies for not including the relevant information.

The scenario is for a non-contributory pension, fully funded pension by the company so employees A and B receives the N1 million and N1.5 million per month respectively.

emmanuelewumi:



There is a template on what workers will get at retirement, workers who earned same salaries and worked for the same length of time, retired at the same time can't have this type of huge disparity.

You need to rephrase your question

The huge disparity is as a result of the choice between taking the gratuity plus lump sum payment with lower monthly pension and opting for gratuity alone but with higher monthly pension.

The "template" supports the scenario, the question is valid.

Lazyyouth4u:


Only an idiot will take the second option. Infact this is looks fictitious. There is no way any company can insult a retiree by asking him to choose between these two options

Thank you for your response. It is not fictitious, the employee decides which one of the scenarios to take.

emmanuelewumi:


Very fictious. Lump sum is the same, the question would have been

Retiree A, kept N120 Million cash and decided to buy annuity that will pay him N1 million per month for 20 years.

Retiree B, kept N50 Million cash and decided to buy annuity that will pay him N1.5 million per month for 20 years.

It is not fictitious, I have clarified the scenario as a non-contributory pension scheme.

LauraClasikVibe:
Employee A

Thank you for your response.

Hello house,

What are your thoughts on crowd funding agric investment going forward. Is it a stable environment? Some firms have collapsed while some are still going strong.

I just want to have a feel of the team here on this form of investment....

Merci

Silverpurple:
Hello house,

What are your thoughts on crowd funding agric investment going forward. Is it a stable environment? Some firms have collapsed while some are still going strong.

I just want to have a feel of the team here on this form of investment....

Merci

You will lose your money, I promise you.

igbonla:


Apologies for not including the relevant information.

The scenario is for a non-contributory pension, fully funded pension by the company so employees A and B receives the N1 million and N1.5 million per month respectively.

They will receive it for life or for how long. What is the name of this organization?

Silverpurple:
Hello house,

What are your thoughts on crowd funding agric investment going forward. Is it a stable environment? Some firms have collapsed while some are still going strong.

I just want to have a feel of the team here on this form of investment....

Merci

If the operators of the fund know their onions well, it definitely will pay off but the bulk of crowd funded agric schemes are just charlatans looking for guillible newbies