olujaidi:


So that story is true. Lol

Which story?


Visit the family section of the nearest high court , whenever you are free. You will be more knowledgeable and informed about life.

There is a reason why lawyers are referred to as "learned", they have seen it all

speak2lift:
There is also a product being run by United Capital which I subscribed to around February this year when TBills started nosediving...it is called the Bond Fund and as at when I bought into it, it was 10.0% but as at Today it is 9.59%. I think it is a pretty good deal. Very similar to MMF in that profits are calculated on the fly...

I also made sure I got written confirmation of "Security of Capital" from my Account Officer to be sure that it is not an Equity Fund product.

For this bond fund, Is dividend paid quarterly or every 6 months?

olujaidi:


I didn't base my argument on investment income because we don't have those details. Chances are he has investments too.

You'd be surprised that there are a lot of finance professionals who don't know these things. You'd expect an accountant to be prudent or a smart financial decision maker but that's not always the case

But definitely not Madam N.Iweala

olujaidi:


I didn't base my argument on investment income because we don't have those details. Chances are he has investments too.

You'd be surprised that there are a lot of finance professionals who don't know these things. You'd expect an accountant to be prudent or a smart financial decision maker but that's not always the case

No need to argue further.

Read the millionaire next door. Physicians are referred as one of the highest paid professionals, but very poor with investments and finance. Lawyers are also well paid, they do a better job with Investments and finance compared to Physicians

You can't compare the financial literacy of a physician with someone who works on Walls street, IMF or World bank, where money and finance are the topic of discussions everyday with a Physician no matter how highly paid

ukay2:


But definitely not Madam N.Iweala

Exactly

abraolas1:


just open account with them two days ago already fund my cash account but I can't subscribe for the Mutual Fund beside nothing seems to be showing here... in their FAQ.. they talk about the subscribe button... just want to ask how u go about funding your Mutual account

For the United capital bond fund, Is dividend paid quarterly or every 6 months?

emmanuelewumi:




No need to argue further.

Read the millionaire next door. Physicians are referred as one of the highest paid professionals, but very poor with investments and finance. Lawyers are also well paid, they do a better job with Investments and finance compared to Physicians

You can't compare the financial literacy of a physician with someone who works on Walls street, IMF or World bank, where money and finance are the topic of discussions everyday with a Physician no matter how highly paid

A senior colleague of mine left our regular postgraduate training and got scholarships to do master degree in Global health in Oxford University, later got another scholarship to do her PhD. in Harvard University.

Today, she is working in World Bank in Washington DC.

Won't be surprised seeing her as the Managing Drector of World Bank one day.

She is very focus, young and single.

Her investments are quite huge.....dining with sharks in Wall Streets.

emmanuelewumi:




No need to argue further.

Read the millionaire next door. Physicians are referred as one of the highest paid professionals, but very poor with investments and finance. Lawyers are also well paid, they do a better job with Investments and finance compared to Physicians

You can't compare the financial literacy of a physician with someone who works on Walls street, IMF or World bank, where money and finance are the topic of discussions everyday with a Physician no matter how highly paid

I'm not disagreeing with you. I only pointed out a generalisation you made. The same book also talks about investment bankers who make a lot of money but spend a lot to keep up with the Joneses.

ukay2:


A senior colleague of mine left our regular postgraduate training and got scholarships to do master degree in Global health in Oxford University, later got another scholarship to do her PhD. in Harvard University.

Today, she is working in World Bank in Washington DC.

Won't be surprised seeing her as the Managing Drector of World Bank one day.

She is very focus, young and single.

Her investments are quite huge.....dining with sharks in Wall Streets.

Investment income is the way to go. Taxes will take majority of the huge salaries, withholding tax on investment income is just 10%

Not interest sir .

abraolas1:



cc:
@Emmanuelwunmi
@Godbepraised

olujaidi:


I didn't base my argument on investment income because we don't have those details. Chances are he has investments too.

You'd be surprised that there are a lot of finance professionals who don't know these things. You'd expect an accountant to be prudent or a smart financial decision maker but that's not always the case

Less than 5% of the population are business and Investment savvy. It requires certain attitudes and skills to succeed in this. Some backgrounds and professions encouraged us to imbibe these attitudes and skills. We have a higher concentration of finance professionals who have these skills and attitudes compared to other professions, that doesn't mean we do not have some finance professionals who are not struggling, after all 95% of the population is struggling

emmanuelewumi:




Investment income is the way to go. Taxes will take majority of the huge salaries, withholding tax on investment income is just 10%

Yes Sir.

Na why I have soaked myself in many investment tools since I have tested and saw its good.


Loooooool

emmanuelewumi:




Less than 5% of the population are business and Investment savvy. It requires certain attitudes and skills to succeed in this. Some backgrounds and professions encouraged us to imbibe these attitudes and skills. We have a higher concentration of finance professionals who have these skills and attitudes compared to other professions, that doesn't mean we do not have some finance professionals who are not struggling, after all 95% of the population is struggling

No be small thing oo

May God bless our side hussles daily

Amen.

emmanuelewumi:



It happens. Women that are full house wives are closer to the school, they do get inflated bills from the school.



At times if you try to pay directly to the school bank account, the school usually refund the excess to the women. If the school does not agree they will threaten the school and convince the husband that the children should be withdrawn to other schools.
Women who do this know their husbands financial capabilities and women are the ones who shop for schools for the children

Maybe the kids are in primary school or in a less structured secondary school. For a man that pays the wife a monthly salary of 150k, if the kids are in secondary, i expect such secondary to be a structured secondary school with all the online access of bills payment or transfer or draft.

NL1960:


Maybe the kids are in primary school or in a less structured secondary school. For a man that pays the wife a monthly salary of 150k, if the kids are in secondary, i expect such secondary to be a structured secondary school with all the online access of bills payment or transfer or draft.

He might simply transfer all the fees to her

NL1960:


Maybe the kids are in primary school or in a less structured secondary school. For a man that pays the wife a monthly salary of 150k, if the kids are in secondary, i expect such secondary to be a structured secondary school with all the online access of bills payment or transfer or draft.

You are thinking with your knowledge of 2020, what if it happened in 2005? What if the School is located in the outskirts of a city or town?

The scenario given is highly possible. Also as a man who works hard for the family, you would hardly have time to vet your family expenses especially if u can comfortably afford it

rationalmind:


Ph sir. Why?

Was thinking it was abroad because it is abroad such things happen. There are some monies spent by a man that most times if the wife knows, there will be trouble. Monies sent to relatives and monies sent to childhood friends(males and females) who could have fallen on bad times and whom the wife does not really like.

NL1960:


Maybe the kids are in primary school or in a less structured secondary school. For a man that pays the wife a monthly salary of 150k, if the kids are in secondary, i expect such secondary to be a structured secondary school with all the online access of bills payment or transfer or draft.

The wife is book smarter than the husband. It is office people that make unnecessary scrutiny.

You get the school bill, make your transfer and the school will return the excess to the woman.

This has nothing to do with structure.

Men can avoid all these by attending the PTA of their children's schools, make friends with other parents. But some of us are too busy pursuing our careers, professions and businesses, traveling to China today and South Africa tomorrow without taking some important things that affect the children and seriously

children will say my mummy has paid my school fees, whereas it was the father who gave excess money to the wife to pay for school fees

emmanuelewumi:
My


The bond fund of United Capital is currently 9.83%

For the United capital bond fund, Is dividend paid quarterly or every 6 months?

emmanuelewumi:



The wife is book smarter than the husband. It is office people that make unnecessary scrutiny.

You get the school bill, make your transfer and the school will return the excess to the woman.

This has nothing to do with structure.

Men can avoid all these by attending the PTA of their children's schools, make friends with other parents. But some of us are too busy pursuing our careers, professions and businesses, traveling to China today and South Africa tomorrow without taking some important things that affect the children and honestly seriously

children will say my mummy has paid my school fees, whereas it was the father who gave excess money to the wife to pay for the school fees

So how do you implement rule of "trust, but verify" in a manner that doesn't create trust issues and lead to further acrimony? Besides if you find this out from one source, the perpetrator can move to another blind spot of yours and continue

Are MMF as secured as TB? Is my capital safe and secured no matter what?
Cc Emmanuelewumi and others. Thanks

talk2tonie:


For the United capital bond fund, Is dividend paid quarterly or every 6 months?

It should be twice

olujaidi:


So how do you implement rule of "trust, but verify" in a manner that doesn't create trust issues and lead to further acrimony? Besides if you find this out from one source, the perpetrator can move to another blind spot of yours and continue

Be fully involved in the education and shopping for schools for your children.

But if you are too big that inflated prices won't have any effect with you, no problem and continue doing what you have been doing

emmanuelewumi:



The wife is book smarter than the husband. It is office people that make unnecessary scrutiny.

You get the school bill, make your transfer and the school will return the excess to the woman.

This has nothing to do with structure.

Men can avoid all these by attending the PTA of their children's schools, make friends with other parents. But some of us are too busy pursuing our careers, professions and businesses, traveling to China today and South Africa tomorrow without taking some important things that affect the children and honestly seriously

children will say my mummy has paid my school fees, whereas it was the father who gave excess money to the wife to pay for the school fees

This is why a man should not be too busy to have a little time with the children or go through their term report or newsletter from the school. 30minutes to one hour on a Saturday morning is enough for this.

NL1960:


Was thinking it was abroad because it is abroad such things happen. There are some monies spent by a man that most times if the wife knows, there will be trouble. Monies sent to relatives and monies sent to childhood friends(males and females) who could have fallen on bad times and whom the wife does not really like.

I don't think I need to explain to my wife why I need to give 100k to my mum, I don't need my wife to explain to me why she wanted to give 100k to an orphanage.

NL1960:


This is why a man should not be too busy to have a little time with the children or go through their term report or newsletter from the school. 30minutes to one hour on a Saturday morning is enough for this.

Very important, we need to bond with our children.

By the time they are sixteen, we might not have the opportunity again


Can somebody explain to me, upon how hard men work to provide for their families.

When the children have money, the first person and at times the only person they remember is the mother?

emmanuelewumi:



Be fully involved in the education and shopping for schools for your children.

But if you are too big that inflated prices won't have any effect with you, no problem and continue doing what you have been doing

I was actually asking that question generally not just for school fees. Are you saying you can't make them responsibility for certain expenses? It might look funny to start auditing the stuff your spouse is in charge of. And then they misrepresent your intentions to themselves and other stakeholders eg kids, in-laws etc so you end up looking like a "bad" person.

emmanuelewumi:



I don't think I need to explain to my wife why I need to give 100k to my mum, I don't need her to explain to me why she wanted to give 100k to an orphanage.

Gbam but trust some men and women to start asking for explanations when they see some alerts once they login into your account. There might be some distant female relation for example she is nor aware of that you might haverendered help to through such a transfer. The kin explanation you will have to give no go get part 2.

emmanuelewumi:



I don't think I need to explain to my wife why I need to give 100k to my mum, I don't need my wife to explain to me why she wanted to give 100k to an orphanage.

It is the least of my worries.

olujaidi:


I was actually asking that question generally not just for school fees. Are you saying you can't make them responsibility for certain expenses? It might look funny to start auditing the stuff your spouse is in charge of. And then they misrepresent your intentions to themselves and other stakeholders eg kids, in-laws etc so you end up looking like a "bad" person.

Be truthful to yourself, no big deal in saying I can only afford XYZ Naira as schools fees.

No big deal in looking like a bad person, if deep within you , you know you are trying your best and you are not a bad person

IamR:

It is the least of my worries.

But it will be a major worry, if all your income goes to the same account and both of you are signatories to the account.


You will need her approval for all withdrawals and expenses

rationalmind:


Why do guys get married to people they don't trust?

I have my wifes bank app on my phone, she has mine on hers, I can move money between both accounts as I please, she can also do the same. She has access to my ATMs, has my pins and I also have access to hers.

Our "joint" account is in mutual funds. We both have the login details and can fund/withdraw independently.

God forbid if any of us dies tomorrow, the other has total control over any money left behind.

Good for you and stick with that practice.
The fact that it works for you doesn't mean it will work for all. As human beings we are wired differently and can never act or behave same way. There's no such thing as one size fit all behaviourally in marriage.
As we advance in marriage, we grow and learn more of each other.
For me, I will never keep a joint with my wife. That's my style and the way I want to live with my wife.
Neither have I request to know how much she has in her account.
I've seen and witnessed what those who keep joint accounts do to cook thier books in other to conceal vital information from the other half.
Some hide 50% of their salary in VSS and Coop deductions, print an entirely different payslip & emoluments letter to take home.
A woman once beg me to issue a dummy letter stating that her official/status car must be seen or driven daily to work. I asked why, she said her husband has hijacked the car from her which she doesn't like because they do share common acct.
Perhaps the practice was working for them at the early stage of the union, but destiny and luck differs. Along the line the woman became a high flier and way above the husband.

Marriage is about trust trully, but trust alone is not enough, understanding of each other, perseverance and ability to let go of your ego need to complement the trust. And more importantly financial strength.
In the case of death, both should have a will. I can't allow my wife to inherit my estate alone when I'm long gone. What if I die early, she can still go and marry another man, what happens to my siblings and parents?