We had an argument in a whatsapp group. The argument was

Guys, please allow me to ask you this question.
What category can we place someone with a bank account of ₦50million naira. A) Rich. B) Average. C) Poor.

Please I'd be glad if I get answers.

lyriclekidd:
We had an argument in a whatsapp group. The argument was

Guys, please allow me to ask you this question.
What category can we place someone with a bank account of ₦50million naira. A) Rich. B) Average. C) Poor.

Please I'd be glad if I get answers.

With 50m in your account, you are already among the billionaires we have in this Nigeria

Even Dangote, na 48m dey e account

The question is malformed. No rich person would have N50M sitting dormant in a bank account in Nigeria. Anybody who'd do that probably knows nothing about money, didn't work for the money, and will soon be broke!

There is difference between being a big boy and becoming rich.
Abi you don 4get say nigerian money dey loose hin value.

PoliteActivist:
The question is malformed. No rich person will have N50M sitting in a bak account. Anybody who'd do that probably knows nothing about money, didn't work for the money, and will soon be broke!

Money wey no reach $100,000 lol

It is well

lyriclekidd:
We had an argument in a whatsapp group. The argument was

Guys, please allow me to ask you this question.
What category can we place someone with a bank account of ₦50million naira. A) Rich. B) Average. C) Poor.

Please I'd be glad if I get answers.

First of all, my answer is B) Average

Now there is a major difference between been rich and been wealthy which I have always taught people.

Been rich only looks at the size of your bank account but being wealthy involves everything financial about you which produces something.
Your investments & returns qualifies you a wealthy man more than the size of your account.

You can inherit an amount of #50million and you will be counted among the rich but not the wealthy.

chukzyfcbb:

Money wey no reach $100,000 lol

It is well

According to the nigerian standard, #50million is already being rich but when compared to dollar like the guy above, it's nowhere near rich.

STRIVE TO BECOME WEALTHY AND ALL THE RICHNESS IS YOURS...

PoliteActivist:
The question is malformed. No rich person will have N50M sitting in a bak account. Anybody who'd do that probably knows nothing about money, didn't work for the money, and will soon be broke!

I don't know if it's poverty or education or just ignorance but most of you on nairaland dish out dumb information without facts, just for the sake of this silly argument without any intention of bragging, yes I have had more than that in my account or the equivalent in usd, and yes and I know about money and I have a 9-5, I am not a business man in anyway, I also have friends and colleagues I'm certain have such.

chukzyfcbb:

Money wey no reach $100,000 lol

It is well

See what I was saying? A self-made rich person that knows anything about money won't think like this at all. All they'd be thinking is why in the world they'd leave a kobo long-term domant in a Nigerian bank when the value would halve in two years, instead of putting the money where it'd be generating money!

MotivationKG:


First of all, my answer is B) Average

Now there is a major difference between been rich and been wealthy which I have always taught people.

Been rich only looks at the size of your bank account but being wealthy involves everything financial about you which produces something.
Your investments & returns qualifies you a wealthy man more than the size of your account.

You can inherit an amount of #50million and you will be counted among the rich but not the wealthy.



According to the nigerian standard, #50million is already being rich but when compared to dollar like the guy above, it's nowhere near rich.

STRIVE TO BECOME WEALTHY AND ALL THE RICHNESS IS YOURS...

The discussion is not wether N50K is rich or poor. The discussion is wether a rich would keep such money dormant in a Nigerian bank.
And BTW 95% of Americans can't afford to have $100K in a bank account.
Also $100K is A LOT of money to vast majority of Americans just as it is no money to some people in Nigeria!

Springboot:


I don't know if it's poverty or education or just ignorance but most of you on nairaland dish out dumb information without facts, just for the sake of this silly argument without any intention of bragging, yes I have had more than that in my account or the equivalent in usd, and yes and I know about money and I have a 9-5, I am not a business man in anyway, I also have friends and colleagues I'm certain have such.

You don't understand the discussion. The question is: would you leave 50 million NAIRA dormant in a Nigerian bank??!

PoliteActivist:


You don't understand the discussion. The question is: would you leave 50 million NAIRA dormant in a Nigerian bank??!

I see.

Hmm

Did you live in Nigeria because 100k dollars you have in USA will not qualify you as a rich man but If you have 50milion in Nigeria you are doing well than most of Nigerians and that can’t be said of USA

Springboot:


I don't know if it's poverty or education or just ignorance but most of you on nairaland dish out dumb information without facts, just for the sake of this silly argument without any intention of bragging, yes I have had more than that in my account or the equivalent in usd, and yes and I know about money and I have a 9-5, I am not a business man in anyway, I also have friends and colleagues I'm certain have such.