Hello, house.

Please, I need your advice on an investment decision. I started investing my savings in mutual fund(money market) about 6 months ago, this has been fruitful but I think I do better by using my investment to buy a car for uber and collect a weekly commission.

I have been able to save up to 1.5m in the mutual funds, I know next to nothing about cars or maintaining one this will be my first car purchase, I am confused on whether I should get the car or continue with my mutual fund.

I would appreciate a matured response and if you have tried this uber thing before I would really appreciate if you could share your story

Thanks

Uber Drivers will frustrate you ehn

Please DON'T engage in the biz except YOU shall be the one driving the car yourself. The drivers has made the biz less profitable & more worrisome.

how drivers take frustrate una?

Michael820:
Hello, house.

Please, I need your advice on an investment decision. I started investing my savings in mutual fund(money market) about 6 months ago, this has been fruitful but I think I do better by using my investment to buy a car for uber and collect a weekly commission.

I have been able to save up to 1.5m in the mutual funds, I know next to nothing about cars or maintaining one this will be my first car purchase, I am confused on whether I should get the car or continue with my mutual fund.

I would appreciate a matured response and if you have tried this uber thing before I would really appreciate if you could share your story

Thanks

Please how much returns can one get investing 500,000 in the Mutual fund?

seanfer:


Please how much returns can one get investing 500,000 in the Mutual fund?

Becareful of all these mutual fund

Michael820:
Hello, house.

Please, I need your advice on an investment decision. I started investing my savings in mutual fund(money market) about 6 months ago, this has been fruitful but I think I do better by using my investment to buy a car for uber and collect a weekly commission.

I have been able to save up to 1.5m in the mutual funds, I know next to nothing about cars or maintaining one this will be my first car purchase, I am confused on whether I should get the car or continue with my mutual fund.

I would appreciate a matured response and if you have tried this uber thing before I would really appreciate if you could share your story

Thanks

A bird in your hand, is better than 10 ostriches in the wild...........

seanfer:


Please how much returns can one get investing 500,000 in the Mutual fund?

they give from 12-13% annually, though it fluctuates per pay.

so with 500k, you will get an interest of 60k to 70k

Lexusgs430:



A bird in your hand, is better than 10 ostriches in the wild...........

Yeah, I know that's why I am trying to ask for advice before venturing into it.

And mind you keeping a bird at hand is not enough, you have to start poultry or something with it.

we need to constantly look for means to better utilize the current resource.

Rubbiish:

Becareful of all these mutual fund

your moniker says it all.

Gshakiru:
Please DON'T engage in the biz except YOU shall be the one driving the car yourself. The drivers has made the biz less profitable & more worrisome.

hmm thanks

Michael820:

your moniker says it all.

Why are u pained if there is nothing to worry about d mutual fund? I only told him to becareful, if u feel is a safe investment, u shouldn't be worried, because i don't remember quoting u in d first place.

Michael820:


Yeah, I know that's why I am trying to ask for advice before venturing into it.

And mind you keeping a bird at hand is not enough, you have to start poultry or something with it.

we need to constantly look for means to better utilize the current resource.

Fully agreed, multiple sources of income...... If you are driving the uber/bolt, then yes.......

Or if your heart is also bullet proof, then buy vehicle and offer it out.......

Michael820:


they give from 12-13% annually, though it fluctuates per pay.

so with 500k, you will get an interest of 60k to 70k

So one will need to wait for a whole year to get an interest of 60k on 500k??
What a joke!

Rubbiish:

Why are u pained if there is nothing to worry about d mutual fund? I only told him to becareful, if u feel is a safe investment, u shouldn't be worried, because I don't remember quoting u in d first place.

LMAO, why would I be worried? I am not advertising mutual fund, in fact I am trying to move my investment.
I am only concerned about your misinformation, mutual fund money market is a zero risk investment option so there is no reason for your "be careful" response

Lexusgs430:


Fully agreed, multiple sources of income...... If you are driving the uber/bolt, then yes.......

Or if your heart is also bullet proof, then buy vehicle and offer it out.......

I can't drive, I have a day job

Thanks though

Michael820:

LMAO, why would I be worried? I am not advertising mutual fund, in fact I am trying to move my investment.
I am only concerned about your misinformation, mutual fund money market is a zero risk investment option so there is no reason for your "be careful" response

Every venture carry a risk factor, even if it is run by government. One should be careful of d kind of amount he is willing to part for a paltry sum.

Michael820:
Hello, house.

Please, I need your advice on an investment decision. I started investing my savings in mutual fund(money market) about 6 months ago, this has been fruitful but I think I do better by using my investment to buy a car for uber and collect a weekly commission.

I have been able to save up to 1.5m in the mutual funds, I know next to nothing about cars or maintaining one this will be my first car purchase, I am confused on whether I should get the car or continue with my mutual fund.

I would appreciate a matured response and if you have tried this uber thing before I would really appreciate if you could share your story

Thanks

sorry to bother you. Can you please educate me on the mutual funds. How much interest, etc

Lagos traffic alone.
Wonder how uber drivers cope.
Traffic lately is crazy.

I need a good car for uber on weekly rental

Cunnilingus:
sorry to bother you. Can you please educate me on the mutual funds. How much interest, etc

interest is around 11% to 13% per annum.

so let's say you invest 1million by january, you will get an interest of 110k-130k at the end of the year.

checkout out mutual fund thread in the investment section
https://www.nairaland.com/1912965/mutual-funds