emmanuelewumi:


Becareful, a lot of predators will soon send private messages to you. You should also continue doing what produced the N12 million.

I will advise you to invest half of the money on FG bonds and remaining half on money market funds, till you have an idea of what you can invest in. At least this will give you about N1million per annum, that is about 83k per month

OgogoroFreak:
this 11% inflation rate, is it annum or monthly?

Ibrahim505:

It is per annum, though, updated monthly

micluv111:


@ Phionix.... Here's the best advice for you....

With 300k salary, you still manage to save 12m and some people are saying Nigeria is not cheap to live smh

healthserve:


Distributed in bits or aggregated as annual rate

Ibrahim505:

Aggregated as annual rate

Grupo:


Hahaha. As a young person, I deprived myself and is still depriving myself a lot of pleasures to accumulate my small capital. And I'm not ready to joke with it.

I prefer my peace of mind. Lol.

Ibrahim505:

He didn't mentioned that he saved 12m from his salary.

4601CE:

Are you saying it’s not possible to save up to that from 300k salary though?

4601CE:

Are you saying it’s not possible to save up to that from 300k salary though?

jahlove4jah:

It is possible, but it will take a longer time.

emmanuelewumi:
I know a guy of about 45 years old, who teaches in one of the International Schools in Lagos whose financial assets in equities, Treasury Bills, Bonds, Eurobonds etc was over N30 million as at 2018.
Although the guy started investing when he was in the University .

Ibrahim505:

He didn't mentioned that he saved 12m from his salary.

Nigsrdumb:


This stock market thing is very somehow, you gain 15 percent this year next year you lose 12 percent.

Meaning you're not really gaining unless you sell at a profit..

I really don't consider this type of stuff an investment unless you are buying stocks for the long term where you continue putting money in during bull and bearish times after selecting a variety of stocks some of which pay dividends.

Anyhow with the way Nigeria is going,

Tb below inflation is no longer an investment and
Mmf to follow in the decline, and to top it all stocks,mmf ,tb will all be affected when the next devaluation happens.

The only reasonable investment I see now r fgn bonds , eurobond, real estate and businesses.

I don talk my own oh.

seyisanya:
Even if he did, the question is for how long? I mean how many years? We need some inspiration for 2020! Hahahaha

phoinix:
My life savings amount to 12 million naira, though I have a day job, where can I possibly invest this little money to make relatively ok return apart from TBills? Or should I use it to travel out? I earn almost 300k a month. I am just out of ideas, I want more from life. Gurus please help me.

vexing:

Bro you earn 300k a month and you are able to save 12 million? How did you do it? Have you been working for 15 years? I any far more than what you earn and I can tell I gat little cash in treasury bill and I have been working for quite a long time now.

aremso:


pls permit me to correct that impression that gain and loose, if you know your onions in this stocks of a thing then u will enjoy your suya. The rule is, know the time to buy and know your exit time by doing so u will not gain15 and loose 12 percen. for example buying zenth at the current price then at least it could give 15 to 20 percent plus margin, when i have met my target what am i waitting for？ i bail out from it and re-enter again when the party is over for second 10 percent margin at q2 then finally lock in again in nov-dec for another margin of 3 months. It depends on your risk appetite. CAVEAT EMPTOR

Nigsrdumb:


Sir you can't time the market, having a stroke of timing luck today could be reversed in the next trade.

It's like betting/ speculation, that's not a long term strategy for building real wealth. I'd rather play the lottery lol

emmanuelewumi:
I know a guy of about 45 years old, who teaches in one of the International Schools in Lagos whose financial assets in equities, Treasury Bills, Bonds, Eurobonds etc was over N30 million as at 2018.
Although the guy started investing when he was in the University .

Lizzyab:
I currently earn money online in dollars and have it transferred to my naira account but i lose about 20% in transfer fees and I want to diversify my income streams and have non-virtual, tangible sources of income right before me, incase our lovely Government wakes up tomorrow and decides to pass some bill restricting internet access or banning inflow from foreign transfer in to your account (LOL, paranoid but you can't blame me....).... I am also trying to build a virtual product to earn royalties on (ebook, info products).... now something evergreen and tied to daily human needs.... any insight greatly appreciated

Nigsrdumb:


Most western banks can transfer funds internationally using swift, only caveat is that they can't transfer naira to Nigerian banks, so your best option is to open a domiciliary dollar açcount in Nigeria, which will allow you to receive funds with little charges.

I pay about 0.50 cents regardless of how much I send.

vexing:

Bro you earn 300k a month and you are able to save 12 million? How did you do it? Have you been working for 15 years? I earn far more than what you earn and I can tell you that I only gat little cash in my treasury bill and I have been working for quite a long time now.

Lizzyab:



That's the issue, I receive payment from a Taiwanese company and for foreign transfers, they only have paypal as a payment option (no direct bank transfer)... luckily, I have citizenship in another country and have a paypal account tied to my foreign back account... So after I transfer my earnings from paypal to my foreign account, I now transfer from my foreign account to my Nigerian account using Transferwise (I end up making 3 currency conversions which chops into the money heavily as Transferwise does not permit receiving money in dollars in Nigeria).. If you know a cheaper way to get money from your foreign account into your Nigerian account please let me know

Lizzyab:



That's the issue, I receive payment from a Taiwanese company and for foreign transfers, they only have paypal as a payment option (no direct bank transfer)... luckily, I have citizenship in another country and have a paypal account tied to my foreign back account... So after I transfer my earnings from paypal to my foreign account, I now transfer from my foreign account to my Nigerian account using Transferwise (I end up making 3 currency conversions which chops into the money heavily as Transferwise does not permit receiving money in dollars in Nigeria).. If you know a cheaper way to get money from your foreign account into your Nigerian account please let me know

Lizzyab:
I just want to say thank you for the wealth of information that everyone has contributed here...I am able to have a spare N35,000 every month (after covering bills and adding to savings) and would like suggestions on how to keep investing this little but consistent figure monthly.... perhaps a mama put joint? anyone have first hand experience running this? how do you deal with 'force men' (Tax force are brutal in Abuja)... anyway to compound this money? I am looking at not touching any 'profit' from this investment for 3-5 years just to make it grow... it might be a little 'off topic' but I strongly believe the active crowd on this particular thread can offer a more balanced perspective...or should I go for a continuous fixed deposit (if that is possible) and just keep the value of the money from depreciating (just maintaining it's purchasing power without becoming stronger)....any information and insight is greatly appreciated...