While I agree that N20 million is a lot of money, basing your calculation on $10 per hour is not taking into consideration people with good jobs who earn more.

I work in the Consulting sector and know people who work in Consulting and banking etc in the US who earn 6 figures and those quite senior who earn 7 figures in dollars. it all depends. MBA grads entering consulting start on $145k excluding bonus so will they be impressed with a one off $100k payment? That depends on the individual.

For those who are earning lower level pay or who are business inclined and have good ideas, then you are right N20 million is something to be considered but it doesn't guarantee financial success. That N20 million can be multiplied in a few years or lost in a few years.

It all depends on the opportunities available to you.

Mcteeblack:

Wow, I see somebody has been deceived dat he'll make millions in America within a year. My brother no b so. If u see anyone dat has collected his house within 2 yrs dat he got to America, pls call him n ask wat he does. Just do d calculation urself. U make $10 to 15 per hour. Max of 2500 per month. Ur home take is 1800 after tax. U pay house rent 700/month, light 80, gas 200, , car insurance 130, food 100, car loan 300 to 500 depending on the car. Water bill 50, trash 40, and other personal bills like credit card. So tell me how u wanna build a house in with 2 yrs when u still have to send money to ur people at home

ttmacoy:
While I agree that N20 million is a lot of money, basing your calculation on $10 per hour is not taking into consideration people with good jobs who earn more.

i know people who work in Consulting and banking etc in the US who earn 6 figures and those quite senior who earn 7 figures in dollars. it all depends. MBA grads entering consulting start on $145k excluding bonus so will they be impressed with a one off $100k payment? That depends on the individual.

For those who are earning lower level pay or who are business inclined and have good ideas, then you are right N20 million is something to be considered but it doesn't guarantee financial success. That N20 million can be multiplied in a few years or lost in a few years.

How many of them , i have some of them even as doctors /bankers if they are really close to you they will tell you the truth ..i do not want to mention names of of this forum ..my mentee just took a loan of 80k pounds to go and complete his house in lekki ..a Doctor ..if he has the money he wont take that loan cos he has a mortgage /rent in london he is paying for 30 years

And do u know how much tax these people pay ? some get huge student loan ..so many stories my brother ..lets just leave it there

[quote author=lancee post=38822702][/quote]

I'm here with u and know exactly what u are saying.

Imagine if I include the monthly rent, monthly phone bills, car insurance, BGE bills ( Nigerian version of NEPA), Health insurance bills, gas etc apart from the tax deductions from one's earnings every week along with taxes on every item u buy then he will understand that green card is not a visa to wealth.

Well I haven't said everybody earns such which is why I concluded by saying depends on where you fall.

I do know a lot of Nigerians both in the UK and US who earn such same as i know lots who don't.

As I said the attraction of N20m $100k depends on where you are at that point in life. If you have prospects for a successful career where you can earn a lot more then maybe not, but if you do not or have good business ideas then the money may make more sense.

Also people make it sound like because you receive N20m means the money will be multiplied. Not really, people lose money everyday don't they Investments and businesses go wrong and fail everyday don't they? You will be surprised how quickly that money will dissapearr in the hands of some.

All I am saying is there is no size fits all answer. It all depends on the individual, where he is in life and his prospects, goals and plans.

lancee:





How many of them , i have some of them even as doctors if they are really close to you , they will tell you the truth

I see somany people condemning me already and calculating my expenses for me. Its all good but we see things differently. Somany said they would invest the 20million and later be able to send their children to US univ. I hear you oooo. Its easier to say when somany of you cant even manage a small scale biz successfully but you think you can make a fortune out of 20million naira? Keep deceiving urselves. All i know is you stand a better chance, even with you family if you have a green card in a good country. So you mean the people making it in those countries arr not subjected to the same tax you all calculated? And as the person proving super and calcuting my expenses and tax, i dont know if you the one here. I pay 1300 per month (all bills inclusive) out of the 3000 i make monthly and im married. I live in calgary, so you can get ur pen and start another calculation if you like. I save as much as 500-600 if i dnt get to send money home. Remember i just got here and i dont expect to be stagnant for the next 3yrs. So know what you are helping me calculate. Maybe the economy in naija would have been better if the hunger mongers called leaders did the right things but i say starting a biz with 20mill in naija doesnt guaranty you and your family a good life in near future

Well I do not know your mentee or his financial situation but him taking a loan to finish his house may not necessarily be because he is not doing well.

Also you mention he already has a house he is paying a morgage on in London which means at least 2 properties. Are you saying if you get N20m you can buy a house in lekki and also London anyhow? No because N20m is just about 60k pounds.

Also as a smart investor I will rather use a bank loan with very low interest to fund a house because it means my money is leveraged to earn me more returns.

Anyway as i said i haven't said N20m is better than a green card or vice versa. All I am saying is it depends on the individual and many other factors.

For some people the N20m will be a seed for multiplication, for others it will be wasted in a few years. For some a green card can be the pathway to successful careers, businesses etc, and for others it may be a pathway to a life of crap jobs and hustling. no one size fits all.

lancee:





How many of them , i have some of them even as doctors /bankers if they are really close to you , they will tell you the truth ..i do not want to mention names of of this forum ..my mentee just took a loan of 80k pounds to go and complete his house in lekki ..a Doctor ..if he has the money he wont take that loan cos he has a mortgage in london he is paying /rent

ttmacoy:
Well I haven't said everybody earns such which is why I concluded by saying depends on where you fall.

I do know a lot of Nigerians both in the UK and US who earn such same as i know lots who don't.

As I said the attraction of N20m $100k depends on where you are at that point in life. If you have prospects for a successful career where you can earn a lot more then maybe not, but if you do not or have good business ideas then the money may make more sense.

Also people make it sound like because you receive N20m means the money will be multiplied. Not really, people lose money everyday don't they Investments and businesses go wrong and fail everyday don't they? You will be surprised how quickly that money will dissapearr in the hands of some.

All I am saying is there is no size fits all answer. It all depends on the individual, where he is in life and his prospects, goals and plans.

God bless you for this piece. Somany people just imagine the huge amount and not really think ahead

Just take one and give me the other one

[quote author=ttmacoy post=38823140]Well I do not know your mentee or his financial situation but him taking a loan to finish his house may not necessarily be because he is not doing well.

Also you mention he already has a house he is paying a morgage on in London which means at least 2 properties. Are you saying if you get N20m you can buy a house in lekki and also London anyhow? No because N20m is just about 60k pounds.

Also as a smart investor I will rather use a bank loan with very low interest to fund a house because it means my money is leveraged to earn me more returns.

Anyway as i said i haven't said N20m is better than a green card or vice versa. All I am saying is it depends on the individual and many other factors.








Got u brother .. well he is trying not to lose on both ends , hence his decision to invest in nigeria ..Mortgage of 30 year at the age of 55 year .. so he is being smart

It depends on individual , u can make it with either if u know what u re doing

Wishful thinking! No one is going to give any of you N20 million or green card on a platter of gold. You have to work to achieve any of the two. Will Dangote ask himself such question?

sleek82:
God bless you for this piece. Somany people just imagine the huge amount and not really think ahead

U can get a green card from that same 20million naira and still accomplish all that lies ahead.

Green card translates to nothing if you as an individual have no futuristic goals.

That huge amount to me is more like a facilitator, it is a leeway!

kevoh:
Wishful thinking! No one is going to give any of you N20 million or green card on a platter of gold. You have to work to achieve any of the two. Will Dangote ask himself such question?

ABSOLUTELY CORRECT

You should have ask OSHIOMOLE and FAYOSE who you prefer to be the next vice president?

ttmacoy:
While I agree that N20 million is a lot of money, basing your calculation on $10 per hour is not taking into consideration people with good jobs who earn more.

I work in the Consulting sector and know people who work in Consulting and banking etc in the US who earn 6 figures and those quite senior who earn 7 figures in dollars. it all depends. MBA grads entering consulting start on $145k excluding bonus so will they be impressed with a one off $100k payment? That depends on the individual.

For those who are earning lower level pay or who are business inclined and have good ideas, then you are right N20 million is something to be considered but it doesn't guarantee financial success. That N20 million can be multiplied in a few years or lost in a few years.

It all depends on the opportunities available to you.

thank you for this....i made a comment and people are making their silly judgements already. I say they are just myopic in view. Thinking once you are given the 20mill, it automatically increases to 40mill in 10years sef

byrron:


U can get a green card from that same 20million naira and still accomplish all that lies ahead.

Green card translates to nothing if you as an individual have no futuristic goals.

That huge amount to me is more like a facilitator, it is a leeway!

well you might be right. We all think differently but i wonder how you would get the green card with 20mill.....you cant even buy a house in lekki with 20mill

loksman:
yea right.,it's obvious.

Yes it is

Which Nigerian will scoff N20m


Not even the richest of us would

Great people!

This is a perfect example of why i say it depends on where you are in life.

As a 55 year old with a 30 mortgage his priority will be different from a 25 year old who just finished from University.


[quote author=lancee post=38823316][/quote]

Make i fast and pray to get answer.

sleek82:
well you might be right. We all think differently

That's true bro

byrron:


Wake up and go see a doctor, u have malaria.

I wear that same shoe u are dreaming of having but the truth is this, that shoe really hurts.

Everything u wrote up there are nothing but fictions either from ur imaginations or fictional stories u heard from fictional people.

With #20ml u can actually get a green card within the space of 1&half yr and still have lots of millions in naira left but with green card you will not be talking of having #20ml In 3yrs time except u are Into some Illegal shi.ts.

Wake up!

Note: People earn such amount legally and yearly too in US but not so fast as you think.

Hundreds of millions of US citizens are in all manner of debts and u are talking of green card as a means to Eldorado?

Lol @average folk earning $50k-$80k yearly? Those at that annual income range are few and the majority are below that annual wage scale.

Leaving in a functional society does not mean that its citizens are rich rather the society is structured in such a way that the citizens can atleast have the basic things that makes life worth living.

Don't sit in Nigeria and write thing's u have no clue about.

Looool....
I travel to u.s. like its my back yard.
Every christmas or holiday period, I go to a new country of my choosing.
I am not trying to brag but I actually know what I'm talking about...

ttmacoy:
While I agree that N20 million is a lot of money, basing your calculation on $10 per hour is not taking into consideration people with good jobs who earn more.

I work in the Consulting sector and know people who work in Consulting and banking etc in the US who earn 6 figures and those quite senior who earn 7 figures in dollars. it all depends. MBA grads entering consulting start on $145k excluding bonus so will they be impressed with a one off $100k payment? That depends on the individual.

For those who are earning lower level pay or who are business inclined and have good ideas, then you are right N20 million is something to be considered but it doesn't guarantee financial success. That N20 million can be multiplied in a few years or lost in a few years.

It all depends on the opportunities available to you.

I stand to be corrected, but banking section don't pay good money her like wat dey pay in Nigeria. And ur frdz with MBA earning 6 fugures, but asked they how many years they've suffered here schooling and working before they finally made it. Bro pls, HAVE YOU EVER BEEN IN THE STATE BEFORE? (No disrespect pls bro) bcoz you'll only understand better when u see how it goes. Like I said before, the only difference in Nigeria and America is the opportunities?

ayodele234:
Funny Nigerians. Even with green card or any kind of card you won't be able to save $15,000 in 20 years. Most Nigerians are truly in the dark. 62% of Americans don't even have $1,000 in their savings. Even if you go to college you won't be able to save 20million in 15 yrs. People need to wake up, 62% of Americans don't even have $1,000 in their savings account while most Nigerians are here thinking America is what they see in Hollywood movies. http://www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06?siteid=yhoof2

Lol, you are absolutely 100% wrong with that. You can save much more than that in a year, depends on ur degree n work u do.

magicminister:


Looool....
I travel to u.s. like its my back yard.
Every christmas or holiday period, I go to a new country of my choosing.
I am not trying to brag but I actually know what I'm talking about...

I am not disputing if u travel out or not rather im trying to let u know that having a green card is not a visa to wealth as ur initial comment made it look pretty simplistic.

Sorry i don't get. Do you mean banks in Nigeria pay more than Banks in the US?

Yes i currently live and work in the US and no i haven't said it was easy to get an MBA but nothing good in life is easy.

Also many of them who have good jobs pre MBA tend to get sponsored like my firm do with a commitment to return for 2 years which is a good deal for a top MBA.

I also know some Nigerians who applied from Nigeria e.g. I know a few at Kellogg here in Chicago. Was sit easy? No. Was it worth it, yes and can they earn a lot more then then $100k (N20m), yes.

As i said it all depends on where you are in life and the prospects open to you. For some the N20m makes more sense, for others it may not.

Not sure If i got the point you are trying to make. If not can you elaborate?

Btw if you meant banks in Nigeria pay more than banks in the US, then that is a HUGE joke.

Mcteeblack:
I stand to be corrected, but banking section don't pay good money her like wat dey pay in Nigeria. And ur frdz with MBA earning 6 fugures, but asked they how many years they've suffered here schooling and working before they finally made it. Bro pls, HAVE YOU EVER BEEN IN THE STATE BEFORE? (No disrespect pls bro) bcoz you'll only understand better when u see how it goes. Like I said before, the only difference in Nigeria and America is the opportunities?

Bleep GREEN CARD

20k naa.

RollingStones:
If you are given a chance to pick between N20million and a Green Card to any Country of your choice,which would you take?

http://pulse.ng/gist/morning-teaser-n20m-or-green-card-which-would-you-prefer-id4244319.html

ayodele234:
Funny Nigerians. Even with green card or any kind of card you won't be able to save $15,000 in 20 years. Most Nigerians are truly in the dark. 62% of Americans don't even have $1,000 in their savings. Even if you go to college you won't be able to save 20million in 15 yrs. People need to wake up, 62% of Americans don't even have $1,000 in their savings account while most Nigerians are here thinking America is what they see in Hollywood movies. http://www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06?siteid=yhoof2

i would only support this your comment if you can tell me the ratio of billionaires in America compared to Nigeria and match it with the population of both countries

Unless it's a green card to heaven.






Gimme my 20m joor

RollingStones:
Same here.

I will equally take the N20m and establish a profitable business.

With time i can afford to visit any country in the world.

you gat it

ttmacoy:
Sorry i don't get. Do you mean banks in Nigeria pay more than Banks in the US?

Yes i currently live and work in the US and no i haven't said it was easy to get an MBA but nothing good in life is easy.

Also many of them who have good jobs pre MBA tend to get sponsored like my firm do with a commitment to return for 2 years which is a good deal for a top MBA.

I also know some Nigerians who applied from Nigeria e.g. I know a few at Kellogg here in Chicago. Was sit easy? No. Was it worth it, yes and can they earn a lot more then then $100k (N20m), yes.

As i said it all depends on where you are in life and the prospects open to you. For some the N20m makes more sense, for others it may not.

Not sure If i got the point you are trying to make. If not can you elaborate?

Btw to says banks in Nigeria pay more than banks in the US is a huge joke.

Wat I actually mean by d bank is dat, Nigeria bank payment is better when u remove tax, and other bills. Those in Nigeria would have more savings than those working in US bank. But am not talking of those working in d I.T department or the ogas at d executive branches. Am talking about those that attend to us at d bank here

Damminglola:
I'll prefer 20M plus the green card.







Then I'll later burn the green card.

wouldnt take time to identify a thief when u see one.........choose 1 but u want the two to ursef, typical nigerian lady