Mrchippychappy:
Invest in business instead.

Come to my covid19 seminar, I would teach you how to make face mask, hand sanitizers and ventilators.
Table for 10 = 5 million naira.

agbolahan1991:
I will advise you to develop your site.....
Am an architect sir...
I have good n beautiful 3bedroom design....
Full 2d working drawing n presentation drawing......
08168400751

kevotek1000:
Personally I will advice you not to relent go ahead and build a home, years from now you will definitely be glad that you did the right thing. Then have some leftover money for investment.

covid2019:
I am in a dilemma worsened by this covid19.

I am a graduate male of 29 residing in the East. I still squat with a friend, not because I don't have money for house rent. But principally because I have been unable to figure out what I want to do with my life, hence renting a house feels like a commitment that might get me stuck.

I always feel I might move anytime soon-- to either another state or abroad for masters or just practice of my profession. Note that I didn't study a STEM course.

All these while squatting, I have been saving via my proceeds from hustles.

In the wake of this COVID19, I checked all my banks and found out that money I have in my account has lost so much value given the dollar rate.

I have 11.4 million, inclusive of my working capital, plus a rickety car valued at 350k. Each time, I need just 3-5m as working capital.

It seems that trying to save more is false economy and might be counter productive.

NOW, I AM CONSIDERING buying a plot of land and erecting a small house even if it's 3 rooms. This, I think will serve as investment that will keep appreciating and also serve as residence.

Or just open a domiciliary account to hedge against naira fall and continue saving.
What do you think please?

tot:


Interest rates unfortunately have crashed, last time I heard it was below 3%per annum. You can check with your bank.

A better alternative for now would be savings accounts, GT for example is about 4% pa.
4% on 1m = 40k per annum, divided by 12 is ~3k every month.

covid2019:
I am in a dilemma worsened by this covid19.

I am a graduate male of 29 residing in the East. I still squat with a friend, not because I don't have money for house rent. But principally because I have been unable to figure out what I want to do with my life, hence renting a house feels like a commitment that might get me stuck.

I always feel I might move anytime soon-- to either another state or abroad for masters or just practice of my profession. Note that I didn't study a STEM course.

All these while squatting, I have been saving via my proceeds from hustles.

In the wake of this COVID19, I checked all my banks and found out that money I have in my account has lost so much value given the dollar rate.

I have 11.4 million, inclusive of my working capital, plus a rickety car valued at 350k. Each time, I need just 3-5m as working capital.

It seems that trying to save more is false economy and might be counter productive.

NOW, I AM CONSIDERING buying a plot of land and erecting a small house even if it's 3 rooms. This, I think will serve as investment that will keep appreciating and also serve as residence.

Or just open a domiciliary account to hedge against naira fall and continue saving.
What do you think please?

Enyimbamercedes:
Or you can make the money work for you and build the house for “free”

I am in the same dilemma; my house will cost about 18-22m and I’ve got 10m set aside

I’m going to invest this in an fx trading platform that I know that will net me 20% monthly. Note that I know at least 5 people who have been on this platform for months.

With the initial 6month interest, I will net 12m, withdraw the 10m and finish up OR leave the 10m for a year and let my investment complete the house...

There are risks but no risk no reward!!

adanny01:


My own.

If you die today, na bankers go chop your money.

There are 2 things you must not do;

1. You must not waste or lose this money you already have

2. You must not miss the important thing about life, which is living a good and comfortable life (You have earned it)

How will you achieve that;

1. Keep on with the legitimate business that gave you that money. If at 29 you amassed 11m, at 39 you should have 10times what you have. If what you did for the money was illegal, hmmm, that is difficult because most illegal money ends up bad. But try a legitimate business and hope for the best.

2. I think having such money and living with someone who may not have such money is unfair. Get your place. You don't have to build. Don't ever look at rent as a waste.

3. Pls upgrade your car. Don't go expensive but get what is portable, functional, trendy and reliable.

4. Don't put money on any single thing (business or otherwise that is up to 25% of you net Worth and don't make a budget that is up to 50% of you net worth. You must always have something to fall back to.

5. Take time to analyze any spending and never rush in buying anything.

In summary, I am saying you must enjoy your money at the same time do not eat all of it.

There are alot of Igbos in my area who have suddenly realized that building a duplex in the village is just being foolish when they live in slums in the city.

Get yourself even a room and palour, put AC and nice things. Continue your hustle.

When you eventually marry and have kids remember you only owe them food, shelter, education and training till they graduate. You are not responsible for their inheritance so don't bother. If you bother about leaving inheritance, you will never enjoy your life and you would have missed very important things about life. Money is not everything but money makes life good. There no essence of making money if you cant spend it on yourself.

adanny01:


My own.

If you die today, na bankers go chop your money.

There are 2 things you must not do;

1. You must not waste or lose this money you already have

2. You must not miss the important thing about life, which is living a good and comfortable life (You have earned it)

How will you achieve that;

1. Keep on with the legitimate business that gave you that money. If at 29 you amassed 11m, at 39 you should have 10times what you have. If what you did for the money was illegal, hmmm, that is difficult because most illegal money ends up bad. But try a legitimate business and hope for the best.

2. I think having such money and living with someone who may not have such money is unfair. Get your place. You don't have to build. Don't ever look at rent as a waste.

3. Pls upgrade your car. Don't go expensive but get what is portable, functional, trendy and reliable.

4. Don't put money on any single thing (business or otherwise that is up to 25% of you net Worth and don't make a budget that is up to 50% of you net worth. You must always have something to fall back to.

5. Take time to analyze any spending and never rush in buying anything.

In summary, I am saying you must enjoy your money at the same time do not eat all of it.

There are alot of Igbos in my area who have suddenly realized that building a duplex in the village is just being foolish when they live in slums in the city.

Get yourself even a room and palour, put AC and nice things. Continue your hustle.

When you eventually marry and have kids remember you only owe them food, shelter, education and training till they graduate. You are not responsible for their inheritance so don't bother. If you bother about leaving inheritance, you will never enjoy your life and you would have missed very important things about life. Money is not everything but money makes life good. There no essence of making money if you cant spend it on yourself.

adanny01:


My own.

If you die today, na bankers go chop your money.

There are 2 things you must not do;

1. You must not waste or lose this money you already have

2. You must not miss the important thing about life, which is living a good and comfortable life (You have earned it)

How will you achieve that;

1. Keep on with the legitimate business that gave you that money. If at 29 you amassed 11m, at 39 you should have 10times what you have. If what you did for the money was illegal, hmmm, that is difficult because most illegal money ends up bad. But try a legitimate business and hope for the best.

2. I think having such money and living with someone who may not have such money is unfair. Get your place. You don't have to build. Don't ever look at rent as a waste.

3. Pls upgrade your car. Don't go expensive but get what is portable, functional, trendy and reliable.

4. Don't put money on any single thing (business or otherwise that is up to 25% of you net Worth and don't make a budget that is up to 50% of you net worth. You must always have something to fall back to.

5. Take time to analyze any spending and never rush in buying anything.

In summary, I am saying you must enjoy your money at the same time do not eat all of it.

There are alot of Igbos in my area who have suddenly realized that building a duplex in the village is just being foolish when they live in slums in the city.

Get yourself even a room and palour, put AC and nice things. Continue your hustle.

When you eventually marry and have kids remember you only owe them food, shelter, education and training till they graduate. You are not responsible for their inheritance so don't bother. If you bother about leaving inheritance, you will never enjoy your life and you would have missed very important things about life. Money is not everything but money makes life good. There no essence of making money if you cant spend it on yourself.

Sa2ruis:
You can hardly build anything of note for that 11.4 million especially, if you don't already own a plot of land and have to include the cost of purchase.
I advise you to take advantage of this one in a lifetime opportunity to invest in some fundamentally sound stocks with many at really low prices right now. You do not even have to restrict yourself to the NSE as there are apps that allow you to invest in US and China stocks

bikerboy1:
I don't know who you are, but my sincere advice to you is to keep on saving.

With time the vision will be clearer

FILEBE:


Bros, we need to stop having these mentality. Did you pay for for all the software packages you have on your laptop? The windows Os on it. Even if you are using a mac, you will still be looking for sites to download free software packages. Not saying the practice is okay. I am just saying you shouldn't throw stones if you live in a glass house.

Nigerians too like to ask for payment for everything even something wey dem learn for free. Open Source communities are scarce to find in Nigeria.

gordufispo:

covid2019:
I am in a dilemma worsened by this covid19.

I am a graduate male of 29 residing in the East. I still squat with a friend, not because I don't have money for house rent. But principally because I have been unable to figure out what I want to do with my life, hence renting a house feels like a commitment that might get me stuck.

I always feel I might move anytime soon-- to either another state or abroad for masters or just practice of my profession. Note that I didn't study a STEM course.

All these while squatting, I have been saving via my proceeds from hustles.

In the wake of this COVID19, I checked all my banks and found out that money I have in my account has lost so much value given the dollar rate.

I have 11.4 million, inclusive of my working capital, plus a rickety car valued at 350k. Each time, I need just 3-5m as working capital.

It seems that trying to save more is false economy and might be counter productive.

NOW, I AM CONSIDERING buying a plot of land and erecting a small house even if it's 3 rooms. This, I think will serve as investment that will keep appreciating and also serve as residence.

Or just open a domiciliary account to hedge against naira fall and continue saving.
What do you think please?

yanabasee1:
Well..... I wish to have friends that will allow me to squat with them and be making this kind of savings to be contemplating about building a house....

God give me these type of friends mbok!!

Enyimbamercedes:
Or you can make the money work for you and build the house for “free”

I am in the same dilemma; my house will cost about 18-22m and I’ve got 10m set aside

I’m going to invest this in an fx trading platform that I know that will net me 20% monthly. Note that I know at least 5 people who have been on this platform for months.

With the initial 6month interest, I will net 12m, withdraw the 10m and finish up OR leave the 10m for a year and let my investment complete the house...

There are risks but no risk no reward!!

bolaji3071:
Invest in landed property.


Lowkey money dey some people hand o. Patiently waiting for when I will make my first million too.

dukeprince50:
If the house u want to build is ur own residential house, I'll advice u to invest that money into different businesses, u can multiply that money by 5 in the next ten years, but if u want to give it out for rent, I'll say u should build it. Ur first priority should be more money. The house, if not for rent will depreciate but land does not.
Also if u haven't figured out what to do with ur life, I'll say u hold that money till u find urself. Don't just run and invest wen u have no idea what to invest on. U can loose everything.Best thing u can do with ur money is to use it and make more money, but do it wisely
Modified.
To those quoting me that house doesn't depreciate, what do u say about the brick houses 20-30years ago or the mud and thatch house during our great grandma's time? Brick house was a hot cake in the 90's, also in late 90's if u have a block house, u are rich, 20years from now Architecture will bring up a new design and glass houses will be as worthy as what block house is today. Be here thinking houses don't depreciate.