GODAKPAN:


Continuous savings and partial compounding. Still depends on how much you save in a year. And I realized that the more the investment, the more the profit and the more the savings. You will only have to sacrifice your comfort at the initial two years. Mind you, this applies to monthly earners with steady salary. Plan your retirement from the day you start working and you will definitely not spend half of your life time working for others.

NL1960:


Please what is the amount to start with to become a billionaire?. The document you posted is not clear.

GODAKPAN:


Personal, but have said it over here that am a salary earner and so I invest monthly, wrapping the investments annually. My entire earnings are invested except my wife's allowances. I use only the interest to run around. With steady investment u tend to earn more than your salary at a point and your investment doubles and later triple and so on. I failed to also let people know that being a billionaire from savings depends on two things: amount saved and number of years.

GODAKPAN:


U can become a billionaire from savings, it depends on how much you save. I drew a 20yrs plan to become a billionaire from savings and remain richer ever after.

feelamong:


Interesting...at what Interest rates are you calculating this and at what Principal to start with for a young Entry worker graduate staff of First bank Plc who earns about 120k monthly.

rationalmind:




I just did a rough calculation, it will take an initial principal of 10m, a monthly addition of 1m at a compounding rate of 12 percent to make 1bn in 20 years.

WhichKindWahala:
What about me that have 120k

rationalmind:


You can also make it, will take you 59 years

WhichKindWahala:
What about me that have 120k

NL1960:


I know it is personal. You can give a range for people to learn from. Lack of financial education is a big problem in this country. Many people do not have the patience and discipline for it. I recently sent what i do monthly to somebody as iam a salary earner and he was shocked.

ahiboilandgas:
not possible cos even if you compound 35 m yearly for 20 years this will amount to 532 m by 2039 ....

NL1960:


Fear catch me o.

ahiboilandgas:
why fear is possible it might take 34 -40 years if u invest around 50 m today at 15 for 35 years....but how many people get 35 m from salary saving ??

NL1960:


I know it is personal. You can give a range for people to learn from. Lack of financial education is a big problem in this country. Many people do not have the patience and discipline for it. I recently sent what i do monthly to somebody as iam a salary earner and he was shocked.

feelamong:


Interesting...at what Interest rates are you calculating this and at what Principal to start with for a young Entry worker graduate staff of First bank Plc who earns about 120k monthly.

NL1960:


I just did a simulation as follows:

Beginning Amount - 0.00

Rate(%) - 15%

Term - 20 years

Deposit Frequency - Monthly

Ending Amount - 1,000,000,000.00 (N1B)

Amount Deposit at every month - ?

The calculation gave me a monthly deposit of about 670k which is about 8.0m yearly.

How many people earn 8m yearly?.

GODAKPAN:


Average of 25m annually but with time you save up-to 100m and even 300m depending on your capital

ahiboilandgas:
pls check ur calculation again even at that it will not about to 1 bn

ozymes:
Please attach the sheet again

feelamong:


Interesting...at what Interest rates are you calculating this and at what Principal to start with for a young Entry worker graduate staff of First bank Plc who earns about 120k monthly.

awesomeJ:

I saw you viewing earlier today. Great you didn't just leave without dropping a post. I mean it's great to hear from you sir.

About this 20yr 1bn discussion,

First, I want to say that compound interest works some crazy magic.

2m initial investment with a monthly addition of 200k compounded at 12% pa will amount to 220m in 20 years.
By the same token, 9m initial investment with a monthly addition of 900k amounts to 990m within thesame timeframe.

However, there will still be currency devaluation, bargain prices for stocks, as wells as above 20% T-bills yields within these 20 years, because markets are in cycles. Getting it right with any of these opportunities would greatly amplify the end result. It could exceed 2bn eventually.

There was recession in 2016 and part of 2017 yet banks made record profits, from the opportunities I mentioned above. Timing is really key to investments!

zamirikpo:


Awesome calculation and a very sound review. First I don't know about most of the guyz here but in 20yrs driving a lambo with probably my walking stick may not interest me, Savings and compounding interest maybe a sure thing but too slow for my liking, and like u mentioned devaluation of the naira and other unforseen events could affect expected returns.


What we should concentrate on ,is on the best strategy to save and compound interest,at whatever initial capital we can afford and see where it takes us. And also explore other ideas in real estate and other possible investments that may churn out money faster.

@awesomej I am very bad with calculations but how much would I save in 20yrs if I have an initial capital of 10m today with a monthly savings of 300k. @ a minimum interest rate of 11% in TB.

zamirikpo:


Awesome calculation and a very sound review. First I don't know about most of the guyz here but in 20yrs driving a lambo with probably my walking stick may not interest me, Savings and compounding interest maybe a sure thing but too slow for my liking, and like u mentioned devaluation of the naira and other unforseen events could affect expected returns.


What we should concentrate on ,is on the best strategy to save and compound interest,at whatever initial capital we can afford and see where it takes us. And also explore other ideas in real estate and other possible investments that may churn out money faster.

@awesomej I am very bad with calculations but how much would I save in 20yrs if I have an initial capital of 10m today with a monthly savings of 300k. @ a minimum interest rate of 11% in TB.

ahiboilandgas:
hmm 20 years some niggas called my kids might just be smiling to hit the jack pot will i will be visting hospital...

Agbaletu:

lol
Our kids will benefit most from the 20 years investment plan.