emmanuelewumi:



Pick what is useful to you and discard the rest. And if non is useful, so be it.

The key word is save, invest, buy capital appreciating and income generating assets, be diversified across different assets and Investments.

It is left to you to plan for a year, 10 years, 20 years and above because of our children and retirement

Thanks Sir, will try and to the best of my ability and comprehension

You guys are still on this argument, different strokes for different folks.

Some will spend, some will save, some will invest, some will save and also invest, some will migrate, some will be here. Do whatever suits your interests, temperament and expectations from life. None is better or superior to the other.

Please live and let others live.

Rotiix:

And do u know how many Nigerians are in America? If yes calculate the percentage sire

380,785
Nigerian Americans. Nigerian Americans are Americans who are of Nigerian ancestry. The 2016 American Community Survey estimates that 380,785 US residents report Nigerian ancestry.which is small for paradise while 100k Americas too much for hell

Barrytone:


Thanks Sir, will try and to the best of my ability and comprehension

Actually the essence of what I shared is for our people who are giving themselves unnecessary headaches about inflation and currency devaluation.

Capital appreciating assets, income generating assets, businesses will always adjust to accommodate the effects of inflation and currency devaluation, but keeping cash at home or in the bank won't do that.

emmanuelewumi:
You guys are still on this argument, different strokes for different folks.

Some will spend, some will save, some will invest, some will save and also invest, some will migrate, some will be here. Do whatever suits your interests, temperament and expectations from life. None is better or superior to the other.

Please live and let others live.

end of discussion

Thisnut:
you can also use the drive through ATM without stepping out of your car, you can as well deposit using the drive through.
You can deposit and withdraw your cheques with mobile apps, you don't get charged for sms or stamp duty when you deposit or withdraw, the bank officials don't ask for tips when you withdraw, you don't go through the back door to get special treatment because you're rich. My bank pays back all charges using other banks atm. Banks give you credit card protection incase you are being hacked or someone who's not you had used you card, you get all your money back.
So far i think Nigeria has the most backward Banks i have ever seen and they are all thieves.

I know usa banks takes about 24hrs for transfer to get through, That gives you enough time to put hold on the transfer and make necessary adjustments. If it's that urgent, you should have done it yesterday. beside, banks provide app like zelle and you can use cashapp for instant money transfer, they have no charges.

If you're doing well in Nigeria, don't give Nigeria any credit. You're just at the mercy of God. If you doubt me, quit your job and see if you will ever get another one. Lol!


Some will say I'm very negative about Nigeria,
yes i am. Imagine my older sister who's a lecturer in nigeria is making less than a street begger in the U.S.

what where you doing in Nigeria b4 migration if i may ask?.

Nb the current dg of nafdac migrated from America to work in Nigeria ..

Olaide1295:

Let the thread grow naturally. Calling in experts brings in a moral burden of being always right. We are all here to learn. I’ve been reading here daily since 2014.

Grow naturally?
That I invited about 4 persons who I know have something tangible to contribute is bad?

And how does that hamper growth here?

Or are you bereft of apt diction?

Even the Supreme Court despite having 21 Justices invites some senior advocates, professors and Attorney Generals to address them in certain cases.These people are called amici curiae.



One needs clarity of expression and that is a product of clarity of reasoning.

Oga, we non de curse each other for here.

contumely2:


Grow naturally?
That I invited few people who I know have something tangible to contribute is bad?

And how does that hamper growth here?

Or are you bereft of apt diction?

Even the Supreme Court despite having 21 Justices invites some senior advocates, professors and Attorney Generals to address them in certain cases.These people are called amici curiae.



One needs clarity of expression and this is. product of clarity of reasoning.

contumely2:
I am inviting fairfora, Fid4fid
Truthdefender ,dasuks and sultaan to this great thread.
They are seasoned business men.

Sirs, you might go through a few of the last pages. I am sure you will find people here interesting. I adjudge this thread a respository of good brains on Nairaland.

A round of applause for them.

LET ME NOW encourage others to invite pundits they know here. I am sure they will appreciate the thread and also contribute.

cc adaorank

thanks for the invite. I'm not seasoned haha. I'm a learner too. Knowledge is power they say.

9jatriot:
Oga, we non de curse each other for here.

not cursing, I felt he lacked proper diction (choice of words)
Maybe he wanted to say A and ended up saying B.

fairfora:
thanks for the invite. I'm not seasoned haha. I'm a learner too. Knowledge is power they say.

You belong here sir. You will like this place. Good brains full here.

Safety,steady and guaranteed income makes the average employee to miss wealth generation opportunities.

How can a retired employee who got severance package of N20 millon in 2000, and decided to buy a 20 years annuity that will pay him a steady monthly income of N110,000 for 20 years? He thought he was smart that will be a total payment of over N26 million over a period of 20 years.

emmanuelewumi:
Safety,steady and guaranteed income makes the average employee to miss wealth generation opportunities.

How can a retiref employee who got severance package of N20 millon in 2000, and decided to buy a 20 years annuity that will pay him a steady monthly income of N110,000 for 20 years? He thought he was smart that will be a total payment of over N26 million over a period of 20 years.

2020 is here and his Investment will be finally drawn down this year

https://www.nairaland.com/5870974/emefiele-accuses-nigerian-business-moguls

Why are investors buying dollars even at the high rates from black market? Thought someone will bring this up here lol

What happens to buying Treasury Bills at 10% and earn about N150,000 every month at the end of 20 years you still have your N20 million.

But the insurance company who sold the annuity to him, informed him that Treasury Bills rate is not constant it fluctuates. So he opted for safety and guaranteed returns.


What happens to buying a commercial property worth N20 millon in 2000, whose value must have appreciated to about N60 millon in 2020, getting a rental income of N4 million.

Because most workers are not financially intelligent, a substantial portion of the workers retirement savings account, must be used to buy annuity or the worker will opt for programmed withdrawals when the worker retires

The Insurance companies are really cashing out big time with this policy, which is not bad because the average employee will squander his retirement savings in a year if all the funds are handed over to them

otomatic:


Can do it or have done it?

Abeg download zenith iteller if you have an account with them.

This has been around for several years.

Some of these people in obodo oyibo think our banking systems are archaic. Soon, they will tell us that they do cardless ATM cash withdrawals in obodo oyibo and that it is not in Nigeria.

chigo4u:
https://www.nairaland.com/5870974/emefiele-accuses-nigerian-business-moguls

Why are investors buying dollars even at the high rates from black market? Thought someone will bring this up here lol

They are repatriating their funds to their countries to solve pressing needs na.
What do you want them to do?Wait for CBN whereas they might have urgent need for funds in their respective countries?
What would you have done if you were in their shoes?

emmanuelewumi:
Safety,steady and guaranteed income makes the average employee to miss wealth generation opportunities.

How can a retiref employee who got severance package of N20 millon in 2000, and decided to buy a 20 years annuity that will pay him a steady monthly income of N110,000 for 20 years? He thought he was smart that will be a total payment of over N26 million over a period of 20 years.

He is smart compared to many of his colleagues that also received same amount and can't account for it today. I'm sure he would have some cases to tell you. But yes salary most times sets one's brian to receiving monthly stipends by default

Theconglomerate:
They are repatriating their funds to their countries to solve pressing needs na.
What do you want them to do?Wait for CBN whereas they might have urgent need for funds in their respective countries?
What would you have done if you were in their shoes?

Interesting

afroxyz:


He is smart compares to many of his colleagues that also received same amount and can't account for it today. I'm sure he would have some cases to tell you. But yes salary most times sets one's brian to receiving monthly stipends by default

Should have Invested, but he is not educated about finance and Investment.

He will draw down all his contribution in the next 5 months. That will be the end of the N20 million, but his Investments would have outlived him and be generating higher monthly income

emmanuelewumi:
Because most workers are not financially intelligent, a substantial portion of the workers retirement savings account, must be used to buy annuity or the worker will opt for programmed withdrawals.

The Insurance companies are really cashing out big time with this policy, which is not bad because the average employee will squander his retirement savings in a year if all the funds are handed over to them

if everbody become too financially intelligent then what happen to the insurance firm that sell annuity,bank deposit etc and their workers ...the system need more of this set of people for job growths and stability....the money in my retirement saving accounts they pain me ..the return is poor i know i will do a better investment more that this firms

ahiboilandgas:
if everbody become too financially intelligent then what happen to the insurance firm that sell annuity,bank deposit etc and their workers ...the system need more of this set of people for job growths and stability....the money in my retirement saving accounts they pain me ..the return is poor i know i will do a better investment more that this firms

That is true sha.


Thank God, PENCOM gave the option of giving 50% of the contribution as lump sum to the workers, the remaining 50% can be used to buy annuity or drawn down as programmed withdrawal.

contumely2:


Grow naturally?
That I invited about 4 persons who I know have something tangible to contribute is bad?

And how does that hamper growth here?

Or are you bereft of apt diction?

Even the Supreme Court despite having 21 Justices invites some senior advocates, professors and Attorney Generals to address them in certain cases.These people are called amici curiae.

One needs clarity of expression and that is a product of clarity of reasoning.

This kind of post is beneath you, you don't need it. Pass your message across without insults just like how he did.

Cheers.

ahiboilandgas:
if everbody become too financially intelligent then what happen to the insurance firm that sell annuity,bank deposit etc and their workers ...the system need more of this set of people for job growths and stability....the money in my retirement saving accounts they pain me ..the return is poor i know i will do a better investment more that this firms

The firms would have had to evolve or die. If they recognise that you're savvy, they treat you differently. If the masses were enlightened enough the playing field would be far less uneven

150bn naira sukus fgn bond at 11.2 is on offer for 7 years ...instead of the fluctuation in tb ....use the couponds to buy tb, secondary markets bonds and blue chip stocks ( zenith and Gtb ) ....and continue your hustling up and down

Whats the minimum for this? How and where to access it?

ahiboilandgas:
150bn naira sukus fgn bond at 11.2 is on offer for 7 years ...instead of the fluctuation in tb ....use the couponds to buy tb, secondary markets bonds and blue chip stocks ( zenith and Gtb ) ....and continue your hustling up and down

abraolas1:


90 days for the MMF or the Bond Fund ?

MMF.

olujaidi:


The firms would have had to evolve or die.

Without annuity 98% of employees will be very broke, as a matter of fact 80% of the Networth of most employee is in their compulsory Retirement Savings Account. If not for the compulsory deduction of 7.5% to 10% and the counterpart funding of additional 7.5% to 10% by the employer 98% of workers won't have any savings or Investments

emmanuelewumi:
Save, invest and buy assets.

N4000 invested in money market fund that grew at 10% from 1982 to date would have grown to N150,000 if allowed to compound. You will be getting an annual interest of N15,000 in 2020


N4000 invested in low cost housing estates of Jakande in 1982 would have grown to about N5 million in 2020. Generating rental income of about 300k


N4000 invested in dollars in 1982 would have grown to over N2 million in 2020.

I don't have the capitalisation history of Nestle from 1982, but N100,000 invested in 1999 has grown to over N8 million in 2020, getting a dividend of 400k from the investment.


If you are diversified and have invested in capital appreciating and income generating assets, you will do well even in the midst of inflation and currency devaluation

Good morning sir, this your post just reminded me of an investment I made in 2007 with AIMS Asset Portfolio Management as a Youth Corper.

My aim was to invest the money for ten years, but since the ten years elapsed 3 years ago, I'm yet to get any useful information abt the company. Even the numbers on the company's receipt given to me are not going through and no useful information online. Pls, do you have any idea of this company?

Pls anybody here with any useful information abt AIMS Asset Portfolio Management can share with me. Thanks in anticipation.

emmanuelewumi:
Safety,steady and guaranteed income makes the average employee to miss wealth generation opportunities.

How can a retired employee who got severance package of N20 millon in 2000, and decided to buy a 20 years [b]annuity [/b]that will pay him a steady monthly income of N110,000 for 20 years? He thought he was smart that will be a total payment of over N26 million over a period of 20 years.

First Time i will bea hearing this bolded word .....

Another word of wisdom .....thank You Boss

9jatriot:
I'd like to respond to you but I'd like a clarification first. What city, town or village was this homeless dude?
Was he an indigene of that particular place?

Lagos. Ajegunle precisely. I don't know if he's an indigene or not. I don't even know his tribe.