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ayexel
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Hi fellas I just need Your advise on how I can utilize my savings which is close to 500.000 naira.I have worked hard over the years and save this money so that I can start a business of my own.I will not like to be an employer of long years.I need your response please.
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UNLEASHED (m)
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The source of your 500.000 naira should be a better business for you. keep it up!!
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ayexel
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You mean I should just keep working hard and keep saving.I want to invest this money I have saved for a better future
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Deep Soul (f)
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@ Unleashed
Bad advice. Do you know if he saved the 500k over a period of 20 years?? Or more?
@Ayexel
Invest in the stock market. Start by gettin a good broker. After a while, I'm sure you'd be more financially equipped to start up something worthwhile.
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Thethy (m)
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The advise of Deep Soul is ok. If you have interest in farming,you can consider starting a small scacle snail and grasscutter farm with about N200,000.Check my profile for more info. Aslo check this link out: http://www.thenationonlineng.com/dynamicpage.asp?id=44824 I wish you good luck. |
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dejacrue
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u can start a fish farming biz(catfish particularly) n an okada on lease biz.if well run u can turn it 7 figure turnover in a yr.all d best
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crazyT (m)
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@ Ayexel My advice to you is “don’t invest in any business you don’t have control over” like Okada business; if you’re not going to drive the Okada yourself don’t venture into it. If not, you’ll loss all the money faster that the way you saved it. I’ll advise you to go into stock market too but you need to first invest in yourself that is acquiring more knowledge about stock market. If you can endure so much pain to safe this money, then you’ll be patient enough to go through this thread http://www.nairaland.com/nigeria/topic-31554.0.html Although it’s very long but I believe after going through the thread you’ll be as good as any guru's in stock market. All I am saying is, be careful in parting away with that money. |
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ayexel
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Thanks guys for your response.Farming I am thinking abut poultry but grasscutter, snail I will need more info on that.Stock market as alwys being on my mind.Someone tell me u can get into a wrong stock brokers hand.Thanks to everyone.More replies are being expected
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naijacutee (f)
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If after watching the economic trends the world is following today, I were to start a business, it would be in agriculture. You may have noticed that food has suddenly become very expensive this year - and this is has happened worldwide. This is because of the sudden demand in biofuel - To tackle global warming, developed countries are adopting laws to allow biofuel to consitute a certain percentage of their transport fuel etc. The UK's laws came in place on the 15th of April. This has then caused the use of land to diversify from growing crops for survival to growing crops for biofuel. Hence pushing up the prices of food. Now, if one can start a business growing food to meet the high demands, I cannot see how it will ever fail because people must always eat. The rich eat, the poor eat. It's true that it requires some experience but if you think of all the poor farmers in the village - Some may be willing to shift base and work for a fee. I guess it's worth thinking about.
As you have N500,000 it may take time as this is likely to be a long-term investment. However, the returns on this may bring you more than any stock market can ever dream of bringing. If you're seriously considering it, speak to someone in the field who can give you a better estimate of timescales and how much exactly you would need to start off upfront.
I wish you all the best. One thing I would advise you not to do is not to throw your money into any of those refer-me-I refer-you schemes.
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Abod (m)
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you worked for some good no. of years i believe. What's your area of competency?
If you must do biz. go into what you can handle. your interests, hobbies, experience, skills, talents. look inwards.
Anyhow you can't go wrong with stocks. get a good stockbroker and understand how it works. Shalom.
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