adewale4great:
why do you lay emphasis on savers are losers

since 1971 savers become losers since when president Richard Nixon took money off the gold standard

uprof:
since 1971 savers become losers since when president Richard Nixon took money off the gold standard

tell me more this is vague

adewale4great:
tell me more this is vague

when govt print money through fiat currency. The money supply increases and price goes up. Then inflation sets in. Then the value of money in your bank account goes down

uprof:
when govt print money through fiat currency. The money supply increases and price goes up. Then inflation sets in. Then the value of money in your bank account goes down

inflation is everybody problem, I'm.not alone

adewale4great:
inflation is everybody problem, I'm.not alone

those that have sound financial education knows how to protect themselves form vulnerability

uprof:
those that have sound financial education knows how to protect themselves form vulnerability

how can I protect myself too?

adewale4great:
how can I protect myself too?

you need to be taken through the three phases of economic dependence

uprof:
you need to be taken through the three phases of economic dependence

what are the three phases pls

adewale4great:
what are the three phases pls

1. Mindset reprogramming

2.,skills set development

3 practical

uprof:

1. Mindset reprogramming
2.,skills set development
3 practical

can we start with mindset reprogramming?

adewale4great:
can we start with mindset reprogramming?

if you can do the task I will be issuing out

Higher purchase required
https://www.nairaland.com/5680364/higher-purchase-dump-truck#90573678

Success4a:
OK! how can I stop loosing money through tax and inflation?

I guess the explanation is simple. The bank pays an interest of 4% pa. Infact even the treasury bill that used to pay double digits , say, 14% pa has fallen to as low as 5% pa. On a positive note, your fund is safe. However, inflation is as high as 12% or more. That means that by the time you pull out your savings to purchase from the market, your purchasing power has been eroded by as much as 8% at least. Does that make sense?
What is the way out then? Investing in something that can pay you beyond the inflation + tax rates. Good! But there is a flip side here too. The flip side is that .normally, investments have risks attached to them. Usually, the higher the risk, the higher your returns should be. So it is up to you to play safe and lose or to risk and win on this race to make money.
Consequently, you need to weigh your risk appetite because safety of your capital is Paramount. It is advised you have an acceptable level of knowledge of how reliable your investment is.

dhappyking:


I guess the explanation is simple. The bank pays an interest of 4% pa. Infact even the treasury bill that used to pay double digits , say, 14% pa has fallen to as low as 5% pa. On a positive note, your fund is safe. However, inflation is as high as 12% or more. That means that by the time you pull out your savings to purchase from the market, your purchasing power has been eroded by as much as 8% at least. Does that make sense?
What is the way out then? Investing in something that can pay you beyond the inflation + tax rates. Good! But there is a flip side here too. The flip side is that .normally, investments have risks attached to them. Usually, the higher the risk, the higher your returns should be. So it is up to you to play safe and lose or to risk and win on this race to make money.
Consequently, you need to weigh your risk appetite because safety of your capital is Paramount. It is advised you have an acceptable level of knowledge of how reliable your investment is.

good explanation!

uprof:

1. Mindset reprogramming
2.,skills set development
3 practical

bro can we start with the first phase?

adewale4great:
bro can we start with the first phase?

no problem! If you can do the task

uprof:
no problem! If you can do the task

I will do it let's get started

adewale4great:
I will do it let's get started

I'm going to place you on personal finance book challenge

uprof:
I'm going to place you on personal finance book challenge

for how long bro!

adewale4great:
for how long bro!

maximum of two weeks

uprof:
maximum of two weeks

what is the name of the book?

adewale4great:
what is the name of the book?

the richest man in the Babylon

uprof:
the richest man in the Babylon

OK! who wrote the book

adewale4great:
OK! who wrote the book

j s clason

uprof:
j s clason

where can I download for free

adewale4great:
where can I download for free

its available on pdfdrive dot net

uprof:
its available on pdfdrive dot net

OK! when I'm done I will let you know

adewale4great:
OK! when I'm done I will let you know

no problem!

uprof:
no problem!

jm done, I will start reading as early as possible

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adewale4great:
jm done, I will start reading as early as possible

good happy reading!