Ibechris2:
Practically,I have done all of the above and thank God I did it early.

I work where I earn 250k gross but honestly,my side income is equivalent of my five years I salary and I am level 12 officer soon to resign from this job.

All what u have said is nothing but the truth.

For young men and women in their 20's, start early and refrain from gambling and wastages of keeping girl friends here and there. They are bunch of distraction and same applies to ladies who wants to be focus,leave men alone and focuss on your ambitions.

Telltruth123:
My advice to salary earners, I am a graduate of Accounting and I have been working for the past 12 years but presently I don't have any savings. I have made some mistakes during this journey.
Below are my advice to salary earners so that you won't live in regrets as I am presently:

1. Save at least 20% of your earnings you can increase it if you have the capacity but it must not be below 20%, you can save it in a co-operative society, I learned that after some few months, they will lend you three times of the money you save with low interest rate.

2.Try and have a business plan, calculate the amount you will need for the business and save towards it, you don't need to leave your work unless it grows to a certain level that can pay 3 times your salary.

3. Don't touch your savings unless for business, it is good to save it where you can't easily access it , co-operative society, bank with instructions on duration etc

4. Don't entrust your business with family members, they don't take it serious, I have bad experience with this and I am regretting it.

5. Don't lend out your savings, people might not return it, I have bad experience with this and I am regretting it.

6. If you are working in a company where you have access to loan, please make use of the opportunity as the interest rate is low invest it in a business, there is no access to loan in my company so I don't have the opportunity..

7. Lastly know that you can't be young for life make sure you have a business running for you so that when the work force is rejecting your age limit, you will have something to fall back on
I reject poverty for me and you.
Thank you.

Ibechris2:
Practically,I have done all of the above and thank God I did it early.

I work where I earn 250k gross but honestly,my side income is equivalent of my five years I salary and I am level 12 officer soon to resign from this job.

All what u have said is nothing but the truth.

For young men and women in their 20's, start early and refrain from gambling and wastages of keeping girl friends here and there. They are bunch of distraction and same applies to ladies who wants to be focus,leave men alone and focuss on your ambitions.

oluplus:
Words of wisdom.
Thanks for the advice.

Can we reach out if we need help?

Telltruth123:
My advice to salary earners, I am a graduate of Accounting and I have been working for the past 12 years but presently I don't have any savings. I have made some mistakes during this journey.
Below are my advice to salary earners so that you won't live in regrets as I am presently:

1. Save at least 20% of your earnings you can increase it if you have the capacity but it must not be below 20%, you can save it in a co-operative society, I learned that after some few months, they will lend you three times of the money you save with low interest rate.

2.Try and have a business plan, calculate the amount you will need for the business and save towards it, you don't need to leave your work unless it grows to a certain level that can pay 3 times your salary.

3. Don't touch your savings unless for business, it is good to save it where you can't easily access it , co-operative society, bank with instructions on duration etc

4. Don't entrust your business with family members, they don't take it serious, I have bad experience with this and I am regretting it.

5. Don't lend out your savings, people might not return it, I have bad experience with this and I am regretting it.

6. If you are working in a company where you have access to loan, please make use of the opportunity as the interest rate is low invest it in a business, there is no access to loan in my company so I don't have the opportunity..

7. Lastly know that you can't be young for life make sure you have a business running for you so that when the work force is rejecting your age limit, you will have something to fall back on
I reject poverty for me and you.
Thank you.

CodeTemplarr:
Buy food and basics in group and bulk to save cost.
Do reasonable side businesses. Activity no be productivity.

ChinemeremFidel:


On that aspect of girlfriends not everyone is that unfortunate to meet girls that would ruin them.
Forget this talks of no good girl,there are good girls out there...They would support you to the core...

AfahaAbia:


There is no formula in all this you said up there. You can save millions today, a terrible emergency can take it all tomorrow. For me with over 15 years experience working I would advise any young person today not to focus on savings alone but to invest as much as possible from your 20s and beyond. Try to also keep money in your pension account(another way of investing for retirement)even if you have contributions made by your employer already. I personally have over 100million naira(which will still increase as time goes on)in my pension account which I can not access till I'm in my 50s.. All im saying is thàt invest more than save.

JobAndVacancies:
buying food on bulk for this Tinubu regime Is no more cost effective

1Alex:
I am in the same shoes. My colleagues are studying further, gathering different certificates here and there, but to me, when you look at the situation of this country, those certificates will lead to nowhere and that makes them a waste of time and money.

Therefore, I started early to prepare for retirement by learning tech skills that I can continue to do and get paid even at 90 years old as long as one can still operate a computer.

JobAndVacancies:
buying food on bulk for this Tinubu regime Is no more cost effective

Tiliphoto123:
Which tech skill can one learn pls

Meerahbel:
If you are 10 years old, 90% of your money money should be used to buy shares.
If
If you are 90 years old, 10% of your money should be used to buy shares.
If you are 100 years old, Baba Baba, abeg settle your family, then enjoy your remaining money. You will not live forever. You sef don try.


If you interested in US stocks market. Kindly use the link on my profile to register as we both get FREE shares.

Telltruth123:
My advice to salary earners, I am a graduate of Accounting and I have been working for the past 12 years but presently I don't have any savings. I have made some mistakes during this journey.
Below are my advice to salary earners so that you won't live in regrets as I am presently:

1. Save at least 20% of your earnings you can increase it if you have the capacity but it must not be below 20%, you can save it in a co-operative society, I learned that after some few months, they will lend you three times of the money you save with low interest rate.

2.Try and have a business plan, calculate the amount you will need for the business and save towards it, you don't need to leave your work unless it grows to a certain level that can pay 3 times your salary.

3. Don't touch your savings unless for business, it is good to save it where you can't easily access it , co-operative society, bank with instructions on duration etc

4. Don't entrust your business with family members, they don't take it serious, I have bad experience with this and I am regretting it.

5. Don't lend out your savings, people might not return it, I have bad experience with this and I am regretting it.

6. If you are working in a company where you have access to loan, please make use of the opportunity as the interest rate is low invest it in a business, there is no access to loan in my company so I don't have the opportunity..

7. Lastly know that you can't be young for life make sure you have a business running for you so that when the work force is rejecting your age limit, you will have something to fall back on
I reject poverty for me and you.
Thank you.

MarketDispatch:


Dey play ...the type of Transcorp shares that you buy at 25 naira that is now 70kobo

Telltruth123:
My advice to salary earners, I am a graduate of Accounting and I have been working for the past 12 years but presently I don't have any savings. I have made some mistakes during this journey.
Below are my advice to salary earners so that you won't live in regrets as I am presently:

1. Save at least 20% of your earnings you can increase it if you have the capacity but it must not be below 20%, you can save it in a co-operative society, I learned that after some few months, they will lend you three times of the money you save with low interest rate.

2.Try and have a business plan, calculate the amount you will need for the business and save towards it, you don't need to leave your work unless it grows to a certain level that can pay 3 times your salary.

3. Don't touch your savings unless for business, it is good to save it where you can't easily access it , co-operative society, bank with instructions on duration etc

4. Don't entrust your business with family members, they don't take it serious, I have bad experience with this and I am regretting it.

5. Don't lend out your savings, people might not return it, I have bad experience with this and I am regretting it.

6. If you are working in a company where you have access to loan, please make use of the opportunity as the interest rate is low invest it in a business, there is no access to loan in my company so I don't have the opportunity..

7. Lastly know that you can't be young for life make sure you have a business running for you so that when the work force is rejecting your age limit, you will have something to fall back on
I reject poverty for me and you.
Thank you.

Wealthoptulent:

Big topic..

galantjoe:
The op has shot first gun on this topical issue. The op area is mainly save and start business.

My advice as a paid employee that had worked for 20years is to Save regularly, after getting to certain amount. Invest in land.
Don't save only in bank's accounts but open retirement savings account (RSA) with pension fund administrator (PFA) and save there too. Their returns are impressive.
You can also in mutual funds. Stanbic IBTC Asset Management Ltd is there to help you. Their return of investment (ROI) is superb.


My point is that you should not have one savings or investment vehicle, multiple avenues and options are good because it offers better ROI and diversified portfolio that are hedged against risks.

I currently have good balance in my pension acct, good balances in mutual funds and bank's savings account and some plots of lands

IgboYorubaFulan:
Indeed: https://www.nairaland.com/8251014/open-letter-president-tinubu-hardworking