HoraCanada:
emmanuelewumi,

Sir, as a salary earner and single, who's serious in investing, please proffer a typical monthly percentage guide to set aside for emergency funds, savings, Investment, monthly expenses. This will serve as a guide for those keen in becoming financially independent over time. Thank you

Depends on the person's income range. I know I wasn't asked, but just to contribute...

Leezah:
There are things kids will learn from the environment in lekki

If you can conveniently pay for it and still have extra for savings and investments please go for it.

If you can conveniently sustain the expenses without getting into debt in order to maintain your consumption and expenses go for it

With the internet their is nothing kids are learning in any part of the world that you can't replicate in your location.

High spenders are not necessarily wealthy.

9jatriot:
u sure say non be because he non wan return money when he borrow from u?

This really cracked me up.

9jatriot:
u sure say non be because he non wan return money when he borrow from u?

Listen to the new, this global pandemic and fall in oil price has made a lot of people jobless, businesses bankrupt

Grupo:


Depends on the person's income range. I know I wasn't asked, but just to contribute...

Correct

Easier for a frugal top corporate executive who earns N24 million and above to save 50% of his income, than for a civil servant who earns N3 million to save 50% of his income

Bros I be de listen o, but the Nigerians there keep sending us videos of how government has been paying them for staying at home.

emmanuelewumi:



Listen to the new, this global pandemic and fall in oil price has made a lot of people jobless, businesses bankrupt

Mills55:
Please my people, this just an information. I notice that once u have a substantial amount in ur account, u start getting scammers calls and text messages. If this is not an insider information, then means this scammers are using black power. But I think it has to do with insider info. Just be careful at this trying time, as many of them are out there looking for who to scam. As u dey hustle, na so them dey hustle too. Don't be a victim.

Lol. That's why posters were frequently admonished not to mention the amount of money have or are looking to invest

Leezah:
I worked in Okomu briefly met some white folks, whenever they are leaving they are not always happy and I asked one why he said, Nigeria is one of the best places to live in because no taxes, we enjoy certain privileges because of our color

Okomu is one of the businesses making billions of Naira as profits from agriculture in Nigeria.

Theconglomerate:
If you had this kind of authority for real,I feel you would have been better off than looking for investment ideas from people that might be looking for maggi money.
Know your place and where your authority ends.
The only thing i believe is in your power to do is ignore my posts whenever you see them.
Thanks.

Advice is a two-way thing. As you give it, you should be able to take it. You should have taken your own advise by ignoring the post you quoted and made obnoxious comments about.

Everybody here has a minimum level of sound intelligence, but we tone it down and contribute wisely for the sake of tolerance and productive cross-fertilization of ideas and experiences. But you antagonize EVERY post and spot EVERY opportunity to showcase your contrary intelligence. In a bid to do so even, you skid off the point or keep saying the same thing everyone is saying in a most confrontational way.

Yes, i am not comfortable with my present knowledge level and i am eager to get more financial and investment literacy here.

Thanks.

Can we learn in peace now?

I have reliable Aboki i go to for transactions, sometimes i credit their bank accounts and they deliver within a specified location. In my early days of dealing with Aboki, i noticed some of them change the dollar without you noticing, some use the old dollar note tactics to deceive clients, recently (in January this year) a friend exchanged 300$ and was paid N60,000 by Aboki, I asked him if he was hypnothised, he said they told him it was the old dollar notes that the rates are lower, I was so furious and told him there is nothing like old dollar, he just needed to sell the dollar to me or find someone who travels out of Naija to buy.

$100 exchanged for N20,000 in 2020, quite a shock to me.

9jatriot:
Oga you allowed your dollar to touch the hands of an aboki and you did not change the dollar after that? Una get mind o.

Stories abound of aboki exchanging real USD for fake USD simply for reneging on agreements and you asking them to return your money to you.

Anyway, I believe you should be safe sha.

In future, before you do that, ensure you write the serial number of the money or snap each of them before you hand it over. Even banks scan each dollar before handing them over to you.

Some people are like that, they know they can't get rich by N32k so they pass it down to the person close to them, now the money has even gone up to N39,000. I don't know how long it will last under my pillow before the N1 million boys starts knocking at the door, i heard they are in Lekki too.
Fingers crossed.

Theconglomerate:
keep it.
Naira is going to weaken more when the lockdown is lifted due to over demand for forex from businesses with low oil revenue fx to defend it.
You'll get to make more money from the deal by selling then rather than now.
But I wonder the kind of person that will lose 32k willingly all in the name of big man.
Maybe he doesn't know all those aboki them and prefer to give it to you and cut his loss.
Your luck!!

Haha, sometimes decisions are indecisive and good to know from alternative perspective, i will follow my instincts just as you mentioned.

emmanuelewumi:

You just want to task our brain, you already know you want to do.
I will just advise you to follow your instinct

Great to point this out, thanks

odimbannamdi:


CC: TotonaRubber
I think this post is for you

Yes the second option is more tempting as the current occupant of the property who got it on lease is doing the relaxation center on a low scale but i want to enter with a modernized relaxation plan, food, drinks, live performance during weekends and so much more, there is even small small buildings already constructed serving as a local beer parlor joint within the plots by the person leasing it. I could knockdown any non-beneficial structure and utilize a better architectural planning.
Nigerians always like enjoyment so it should flourish with all things being equal, exit like you mentioned will be less expensive for option 2.

odimbannamdi:

Go for the second option, especially if the location is good. The starting capital (5m) is reasonable and, if you are strategic about your operations (value-adding), there is a high chance that you will recoup your 5m investment in less than 2 years. Nigerians flex alot.
Also, if you are investing 5m for the second option, it means most of the setup materials will be make-shift materials, so your exit process may not be too expensive if things dont go as planned.

In all, follow your instincts.

I see, i need to verify the governments plan for this plot as surrounding buildings sharing same fencing are all University hostels, though the current occupant has been using the place as a relaxation unit for over 4 years but on a very low scale, i am sure if major development change enter the property and business start booming govt, will become interested.
The problem with the land is cost of developing it to what others are doing is what 90 percent of prospective buyers are looking at, maybe they are looking the wrong direction and discouraged by capital outlay or maybe i am the one who needs to verify the actual plan the government has for the plot to kick start any of the project.
I am always buying landed properties in developing areas but my recent experience made me prefer to buy well situated lands or properties. Some of my relatives bought lands in Ogun state for N250,000/plot, some bought 3, 4 and 5 plots but up till today none of them has physically seen the plots as they are still awaiting for the government to allocate the area of land and their plots allocated, it may happen in their lifetime or it could be money gone forever.
Mine is an entire different story but certain places sold for N500k may not have favor of development in the next 20 years especially for personal or commercial residence.

Gabrielclint:

My brother, good day.
First as a real estate guru, I think the location of that property has reached its apex appreciation. For a plot of land to be kept at 30million naira 4 years ago and till now the land has only depreciated rather than appreciating, it calls for concerns that should be investigated.

Buying a land for 25mil and building a block of flat there is not the best option. The break even is always far fetched because of the cost of the land. Before you consider the second option, you need to undertake some investigation to know the land use of the plot. It is not everywhere that you can just start a relaxation joint and the government will allow you. First try to know what type of activity the property was allocated for in the land use master plan of the area, otherwise you will venture into a business that you will spend millions to pay for deficiencies or bribe to the government. A friends big relaxation area was just demolished 3 months ago after only 3 yrs of operation because that's not the land use.

My suggestion is, depending on the location and state you reside, you can look for cheaper lands in a place that is rapidly developing, use that 25mil and buy like 5 plots at 5mil each, in 2 years that 5mil land will become 10mil each. I bought some plots for 500,000 naira last year, just last month I checked and the property now worth 1 million each.. 100% in just 1 year, just because the government asphalted the road. Look deeper bro, real estate is the real deal if you investigate well.

Mills55:
Please my people, this just an information. I notice that once u have a substantial amount in ur account, u start getting scammers calls and text messages. If this is not an insider information, then means this scammers are using black power. But I think it has to do with insider info. Just be careful at this trying time, as many of them are out there looking for who to scam. As u dey hustle, na so them dey hustle too. Don't be a victim.

People who worked hard for their money, who are not greedy, who ask relevant questions hardly fall for scams.

Got a call on Friday night, that they are calling from my bank. They said they observed something is not right with my POS. I asked them to tell me which of the accounts and account number

They caller said Zenith bank. I just cut her off because I don't have a Zenith bank account

emmanuelewumi:


Correct

Easier for a frugal top corporate executive who earns N24 million and above to save 50% of his income, than for a civil servant who earns N3 million to save 50% of his income

Correct. And also, responsibilities should also be considered.

My income is not fixed. Last month, I earned around 275k and spent only 75k. I'm single, with no responsibilities.

So, I saved up to 70% of my income.

HoraCanada:
emmanuelewumi,

Sir, as a salary earner and single, who's serious in investing, please proffer a typical monthly percentage guide to set aside for emergency funds, savings, Investment, monthly expenses. This will serve as a guide for those keen in becoming financially independent over time. Thank you

Rule of thumb 50:30:20

50% on needs, 20% on wants, 30% on savings and investments. Outline your expenses, trim the superfluous. It won't be easy particularly if you shoulder some responsibilities i.e. black tax. Whatever you do, make sure you save, invest and reinvest the returns so you can take advantage of compounding. Be prepared to say "No" more often

Leezah:
Which book are you reading currently?

the millionaire next door, just started reading it

HoraCanada:


the millionaire next door, just started reading it

Please where can i get or download this book?

emmanuelewumi:
Our behaviours and attitudes are determined by two major factors hereditary factors and environmental factors. We inherit certain traits from our parents, we learn some behaviours from our parents, the environment we grow up also influences our behaviours, attitudes, temperament, expectations from life and outlook about life.

That is why some people have entitlement mentality, argumentative, calm, confrontational, humble, frugal, reckless, low self esteem, proud confident, outgoing, industrious, athletic, business minded, opportunist, compassionate, agressive, abusive, toxic, friendly, spend to impress, need validation of others etc

Exactly sir, especially we Nigerians.

Rotiix:
Please where can i get or download this book?

you can download it online via google as pdf

odimbannamdi:


Advice is a two-way thing. As you give it, you should be able to take it. You should have taken your own advise by ignoring the post you quoted and made obnoxious comments about.

Everybody here has a minimum level of sound intelligence, but we tone it down and contribute wisely for the sake of tolerance and productive cross-fertilization of ideas and experiences. But you antagonize EVERY post and spot EVERY opportunity to showcase your contrary intelligence. In a bid to do so even, you skid off the point or keep saying the same thing everyone is saying in a most confrontational way.

Yes, i am not comfortable with my present knowledge level and i am eager to get more financial and investment literacy here.

Thanks.

Can we learn in peace now?

I never stopped you from learning.
I also provided you with a solution to my confrontational posts,skip them.
What else do you want from me?

ahiboilandgas:
no need for this ...are u same person healthserve?

Lol...he sounds like him with different moniker.

You are quite right, everything in Lekki is somehow over-priced if you keep going to most places in Lekki designed for the rich in Lekki.
Even the Freaky freakys are not left out, I carry one earlier this year after lap dances in Askamaya Lekki, she floow me enter house (first mistake), see everywhere nice, she went to the rest room and came to the bed, my blood was already hot so i told her baby, see bed make we start o as it was already 1am, she said make we talk first, i was concerned so i listened attentively.

To cut the long story short she said i will give her 30k by morning which will be around 6am as their normal departure time, my N10k bargain fell on deaf ears so i told her well, i will not entertain blackmail (in my mind), She said N30k or no deal, i said ok now thanks for coming, she say make i give am cab money, i gave her N1k she refused o, i quietly told her to come outside with me to go find more money, once i dey outside i made it clear na N1k dey for cab, she flung the N1k at my face and left angrily. The next day i drove down to Ajah and picked up a fresh Freaky freaky for N7k, total damage N10k max. Total saving N20k.

So island can be quite pricey.

ahiboilandgas:
I refuse to move to lekki despite the fact i can afford it ...i didnt want to be subconsiously drag into catching up with the jones symdrome....once am in the mainland i dont notice my car but if i enter lekki wahala dont start...i start wondering oga wetin u dey do with this honda 2013 when u mates!!!!! They drive benz 2019 and range ....so after staying for 3 months i had to move ...i didnt want to be paying 700 naira to wash 1 shirt in a lundary 2000 to barb ....now i pay 400 to barb and 150 per shit home delivery

TotoNaRubber:
You are quite right, everything in Lekki is somehow over-priced if you keep going to most places in Lekki designed for the rich in Lekki.
Even the Freaky freakys are not left out, I carry one earlier this year after lap dances in Askamaya Lekki, she floow me enter house (first mistake), see everywhere nice, she went to the rest room and came to the bed, my blood was already hot so i told her baby, see bed make we start o as it was already 1am, she said make we talk first, i was concerned so i listened attentively.

To cut the long story short she said i will give her 30k by morning which will be around 6am as their normal departure time, my N10k bargain fell on deaf ears so i told her well, i will not entertain blackmail (in my mind), She said N30k or no deal, i said ok now thanks for coming, she say make i give am cab money, i gave her N1k she refused o, i quietly told her to come outside with me to go find more money, once i dey outside i made it clear na N1k dey for cab, she flung the N1k at my face and left angrily. The next day i drove down to Ajah and picked up a fresh Freaky freaky for N7k, total damage N10k max. Total saving N20k.

So island can be quite pricey.

Please go and marry and stop carrying o-os-o it is not economical on the long run

The current recession will affect entertainment and relaxation spots.

emmanuelewumi:



People who worked hard for their money, who are not greedy, who ask relevant questions hardly fall for scams.

Got a call on Friday night, that they are calling from my bank. They said they observed something is not right with my POS. I asked them to tell me which of the accounts and account number

They caller said Zenith bank. I just cut her off because I don't have a Zenith bank account

You should have not cut off rather lead her on then after listening, you can reply by saying, I am from the State security servicesol or DSP Okotoko from Anti fraud unit Area F, Ikeja and we have been following you and know you present location. That's line will never be reachable.

TotoNaRubber:
You are quite right, everything in Lekki is somehow over-priced if you keep going to most places in Lekki designed for the rich in Lekki.
Even the Freaky freakys are not left out, I carry one earlier this year after lap dances in Askamaya Lekki, she floow me enter house (first mistake), see everywhere nice, she went to the rest room and came to the bed, my blood was already hot so i told her baby, see bed make we start o as it was already 1am, she said make we talk first, i was concerned so i listened attentively.

To cut the long story short she said i will give her 30k by morning which will be around 6am as their normal departure time, my N10k bargain fell on deaf ears so i told her well, i will not entertain blackmail (in my mind), She said N30k or no deal, i said ok now thanks for coming, she say make i give am cab money, i gave her N1k she refused o, i quietly told her to come outside with me to go find more money, once i dey outside i made it clear na N1k dey for cab, she flung the N1k at my face and left angrily. The next day i drove down to Ajah and picked up a fresh Freaky freaky for N7k, total damage N10k max. Total saving N20k.

So island can be quite pricey.

Leeemmaaaoooo

Punch newspaper did a story about pricing disparity for such services 2 or 3 years ago. Mainland is even cheaper, according to the Punch report o. Not personal experience

HoraCanada:


the millionaire next door, just started reading it

You right on track. Readers are leaders.

Leezah:

You should have not cut off rather lead her on then after listening, you can reply by saying, I am from the State security servicesol or DSP Okotoko from Anti fraud unit Area F, Ikeja and we have been following you and know you present location. That's line will never be reachable.

When I searched her phone number on Truecaller, I got scammer

emmanuelewumi:



When I searched her phone number on Truecaller, I got scammer

oh she been blacklisted by true caller by users.

9jatriot:
Bros I be de listen o, but the Nigerians there keep sending us videos of how government has been paying them for staying at home.

I didn't get anything from the government because my employer lockdown our company not layoff of employees. It's hard for some people in abroad here but I thank God, my Investments are working for me.

emmanuelewumi:




Please go and marry and stop carrying o-os-o it is not economical on the long run

The current recession will affect entertainment and relaxation spots.

It has since tiwa Savage was saying some few days ago about her experience in this pandemic.

Many of them were scheduled to perform this Easter at Ay show and some other even never happened. How many of them have you seen online? It hitting them just as it hitting the common man.

HoraCanada:

you can download it online via google as pdf

Please share the link, thanks

TotoNaRubber:
You are quite right, everything in Lekki is somehow over-priced if you keep going to most places in Lekki designed for the rich in Lekki.
Even the Freaky freakys are not left out, I carry one earlier this year after lap dances in Askamaya Lekki, she floow me enter house (first mistake), see everywhere nice, she went to the rest room and came to the bed, my blood was already hot so i told her baby, see bed make we start o as it was already 1am, she said make we talk first, i was concerned so i listened attentively.

To cut the long story short she said i will give her 30k by morning which will be around 6am as their normal departure time, my N10k bargain fell on deaf ears so i told her well, i will not entertain blackmail (in my mind), She said N30k or no deal, i said ok now thanks for coming, she say make i give am cab money, i gave her N1k she refused o, i quietly told her to come outside with me to go find more money, once i dey outside i made it clear na N1k dey for cab, she flung the N1k at my face and left angrily. The next day i drove down to Ajah and picked up a fresh Freaky freaky for N7k, total damage N10k max. Total saving N20k.

So island can be quite pricey.

Ever heard of Covid-19?

TotoNaRubber:
You are quite right, everything in Lekki is somehow over-priced if you keep going to most places in Lekki designed for the rich in Lekki.
Even the Freaky freakys are not left out, I carry one earlier this year after lap dances in Askamaya Lekki, she floow me enter house (first mistake), see everywhere nice, she went to the rest room and came to the bed, my blood was already hot so i told her baby, see bed make we start o as it was already 1am, she said make we talk first, i was concerned so i listened attentively.

To cut the long story short she said i will give her 30k by morning which will be around 6am as their normal departure time, my N10k bargain fell on deaf ears so i told her well, i will not entertain blackmail (in my mind), She said N30k or no deal, i said ok now thanks for coming, she say make i give am cab money, i gave her N1k she refused o, i quietly told her to come outside with me to go find more money, once i dey outside i made it clear na N1k dey for cab, she flung the N1k at my face and left angrily. The next day i drove down to Ajah and picked up a fresh Freaky freaky for N7k, total damage N10k max. Total saving N20k.

So island can be quite pricey.

TotoNaRubber:
You are quite right, everything in Lekki is somehow over-priced if you keep going to most places in Lekki designed for the rich in Lekki.
Even the Freaky freakys are not left out, I carry one earlier this year after lap dances in Askamaya Lekki, she floow me enter house (first mistake), see everywhere nice, she went to the rest room and came to the bed, my blood was already hot so i told her baby, see bed make we start o as it was already 1am, she said make we talk first, i was concerned so i listened attentively.

To cut the long story short she said i will give her 30k by morning which will be around 6am as their normal departure time, my N10k bargain fell on deaf ears so i told her well, i will not entertain blackmail (in my mind), She said N30k or no deal, i said ok now thanks for coming, she say make i give am cab money, i gave her N1k she refused o, i quietly told her to come outside with me to go find more money, once i dey outside i made it clear na N1k dey for cab, she flung the N1k at my face and left angrily. The next day i drove down to Ajah and picked up a fresh Freaky freaky for N7k, total damage N10k max. Total saving N20k.

So island can be quite pricey.

emmanuelewumi:



700k that one didn't sweat for is not bad. Depending on your cash flow and expenses.

500k invested per annum in FG bond @ 10% allowed to compound for 5 years will grow to N3.3 million

Hi Sir

can you explain how to go about this

thanks