₦airaland Forum

Ibime:
Hahahaha. The guy done suffer.

If you have cash, property prices go reduce well well after this. One of my guy going through a divorce already lost almost 10% of his property value in 3 weeks as of two weeks ago. His wife valued it 5 weeks ago, then he valued it 2 weeks ago and £40k was gone off the price. Estate Agent say na Corona cause am.

However, I personally don't believe property gives anywhere near the same returns as tax exemptions on pension unless you are lucky to buy in a place of explosive capital appreciation such as London or Banana Island 10 years.

As long as you plan to live long, the tax exemptions make a private pension by far the best investment option, so far you are happy to live a frugal life till then, and of course they give the money to your family if you die before then. What encouraged me to focus on pension was UK reducing the age you can access your pension to age 55, and with 25% lump sum tax free. I treat it as a very long term bank account that doubles my money instantly. Any stockmarket gains na just jara. I keep no other savings apart from pension and live mostly from month to month, but it be like say this Corona go teach man to always keep some liquid emergency fund.

Fair point. I believe it is always good to diversify a bit. Pension funds should always be the bedrock of savings but property can be good too if, as you alluded to, one buys smartly. I have a friend that regularly pays little to no tax based on tax exemptions from his various property investments.

If done in a good location you pay only the initial deposit and the rest is paid off with the rent. Hold on to the building for 5-10 yrs and offload it for between 150-200% of how much you bought it for.

Ibime:
I think the market may still fall further depending on how quickly they can fine cure for Covid so anything put into 401k could fall in the short term. If in 3 to 6 months, there is no cure on the horizon, markets will get jittery again. The caveat here is your saving on tax exemptions. In UK, pensions contributions are tax-free up to a maximum of £40k which means an instant doubling of cash as you forego paying Income tax and National Insurance on any Gross income you put into pensions. For example, I am maxed out on pension contributions as I get back £1 for every £0.48 I put into pension for the most part.

If IRS is tax free up to $20k, then under normal circumstances, you should aim to put as much of the full amount as you gain $1 for every $0.78 or $.76 put in, depending on your tax bracket. . . . . the stockmarket will have to lose 22% or 24% of it's value to put you in the red as compared to if you took the cash instead of putting in 401k.

However that depends on your personal circumstance and the industry you work in at this time. If you work in an industry that may be affected by this Covid, it may be wise to take the cash rather than invest.

At what age are you guys allowed to access your 401k BTW?

Pensions savings don shrink here cos of this crisis but i am going to leave mine there cos of the tax benefits you mentioned, and i don’t really need it at this very moment, and importantly you get taxed extra if you try to access it early.

It’s one of my colleagues that I pity. The guy is retiring this year and has been lamenting how his pension savings keep shrinking by the day. I swear that’s all he talks about during coffee breaks.

By the way what is your opinion about investing in property at this time?

UK passes the 1000 deaths mark.
Na wa o.

ChristineC:
anyone seen yet what the fuss is about Jude Bellingham?

Not me.

He is 16 and physically developed enough to play in the championship, but i have not seen a special skill set.

BlueRayDick:
Talking about community spread, I think it's about to happen or has happened already.



https://www.nairaland.com/5758070/luth-sends-away-man-tested

This guy tested positive at LUTH, but was asked to go home due to non availability of facility to taje Carr of him. This guy used public transport going to LUTH and he did same on his way back home.

He has since gone back to continue with his life as if nothing happened.

I am reluctant to believe that particular story. It does not add up.

Having said that, i do believe the numbers are under reported in Nigeria.

iamoyindamola:
You should have confirmed this the way the virus is spreading in America

In Medicine, research evidence trumps anecdotal evidence.

Ibime:
What of the combination with Azimothrycin?

Bear in mind, UK are admitting only at Ventilator stage which may be too late.

But they are testing on COVID-19 positive people not just the seriously sick.

They haven't concluded sha. They are also testing different antiviral combinations.

Godx:
Last time I checked the number of tests carried out on individuals was 160 across the nation and that was 2 days ago. I am pretty sure my estimates are not way off.

Fair enough. I don’t know what criteria they are currently using in Nigeria but I guess one has been established by the NCDC.

You can’t test everyone that has a cough. You have to risk stratify using certain criteria and then test high and moderate risk people. Those with low risk can self-isolate.

larride1:
The plan is to test those showing symptoms already or those that have come in contact with a confirmed case. That’s why NCDC is screaming self isolate and stay at home.

We cannot just test anybody, the testing must be targeted. That’s our current reality.

Exactly. It has to be targeted testing.
However if Nigerians keep lying about their travel history or their exposure history it becomes difficult to do this with efficiency.

Meanwhile my friend who is deeply involved in the COVID-19 response in the UK says that from their preliminary results Chloroquine is not making significant difference in terms of patient outcomes.

Godx:
The question is what are we doing with the 20k testing kits we have on ground. Nigeria has not tested up to 200 people at this very moment.

Do you have any reliable source for that information?
From the feedback i am getting from people I know back in Naija I don’t think your figure is accurate.

Godx:
But Jack Ma donated 20,000 testing kits to each African countries.

20,000 testing kits to Nigeria a country of almost 200 million people.

The fact that test kits are inadequate is well known and confirmed by everyone involved in this effort.

BlueRayDick:
Thanks. Now I get

You are welcome. For instance what we are doing here presently is targeted testing rather than widespread testing.
Community transmission is still relatively low here compared to the rest of the developed world, hence you have to meet BOTH epidemiological AND clinical criteria to get tested.

Epidemiological criteria: recent foreign travel in the 14 days before becoming unwell OR contact with known COVID-19 positive person in the 14 days before becoming unwell.

Clinical criteria: fever above 38C OR cough OR sore throat OR Shortness of breath.

However any patient with severe pneumonia or any health worker with fever or any respiratory symptoms at all can also get tested irrespective of criteria.

That is our current testing protocol here but this would surely change with time.
For example a place like the UK with a lot of community transmission already won’t place as much premium on foreign travel as we have done.

larride1:
I asked you a simple question and you are ranting incoherently.

What is rule of law? Explain what rule of law is and how Buhari doesn’t respect rule of law.

We will get back to other trash you posted later.

The way you insult people over political issues is unbecoming of you.
You want to debate with someone, yet you are striking out his entire post, and calling what he said thrash.
The other time you referred to people who opposed the rice ban as bush babies. LOL

I am only saying this because some of your points are good but you gain nothing extra with the insults.

BlueRayDick:
I just hope that doesn't lead to riots when the figures keep soaring and people don't get tested due to shortage of kits.

There are just not enough kits to test everyone.
That is why different health regulatory bodies have developed evolving criteria for testing people depending on where that particular place is in the pandemic curve, the raw numbers, and the availability of kits.

Due to the mass hysteria If you open the testing to everyone who has one or two sniffles you will completely run out of kits, then what?

Oasis007:




Some Dudes can't argue with sense, rather prefer getting cheap Likes from dead-brain Associates. Instead of cussing, argue with Facts.

Who is this Letter bomb addressed to? Please tell us so that it doesn’t woundjure the wrong person.

Ibime:
Did you say thousands?

Oga, 3.3m people lost their job in USA last week.

1m people in Britain.

This is the fastest recession in history.

The Great depression of 1929 claimed 9m jobs in 3 years in Yankee. We could see that number in 3 months.

Oh yeah, i was talking about my own local environment here. Every day companies keep announcing layoffs.
The Social Benefits website crashed cos of the number of people logging on to apply for money from the government. The average person in the world lives from paycheck to paycheck but now people are going to live for months with no appreciable income.

Countries like Naija that have no such scheme for the unemployed and the lower classes will be the ones to suffer the most. I won't be surprised if something major happens in terms of civil disobedience or even riots. People won't just sit at home and starve to death.

BlueRayDick:
Seriously unprecedented.

I was going make a financial commitment last week that will cost almost 800k, but from the analysis of the Nigerian and world economy in this trying times, mo ya look away.

I learnt not only will Nigeria as a nation face great financial problems resulting from the crash in oil prices and how it affects the budget, the world at large may also experience recession as a fallout of the Corona virus pabdemic. With countries closing borders and producing countries not getting to sell their stuff this period, the fallout will be seriously serious.

THOUSANDS of people are losing their jobs every week over this wahala. I just can't imagine what people are going through now.

If care is not taken the people that coronavirus no kill, starvation go nab them. I am not sure what the solution is, but something has to be done, or else some families and even countries will land in generational gbese.

Apart from health concerns and lives lost the economic higi haga and financial oxbow lake this Coronavirus will cause will also be unprecedented.

iamoyindamola:
You mean Google

Wikipedia to be exact. LOL

The ones i knew i mentioned. The ones i investigated i owned up sharp sharp.

That Abreu one even Fenibeso couldn't have given anybody the answer if it was left here for a month.

raumdeuter:
Player W

Thanks to my investigators. Stefano Fiore.

raumdeuter:
Player Y

Thanks to my investigators. Amauri

raumdeuter:
I first noticed him at 2002 world cup, his long hair made him stand out

Yes i remember from 2002. A bit more mobile then too.

nihilistjnr:
From Spain, the guy went to play in Bethlehem ffs.

Abeg who be this Player Z

Sebastian Abreu.
Very awkward Uruguayan target man. Was at the 2010 World Cup as the sub for the Forlan/Cavani/Suarez attack.

raumdeuter:
The grandfather of all journeymen

Player Z

Player Z. King journeyman.

Thanks to my investigators. Sebastian Abreu.

raumdeuter:
Player S

Nigel Reo-Coker.

West Ham, Villa, Bolton then MLS.

raumdeuter:
Player U

Salva Ballesta.

The 2 high scoring La Liga seasons plus the failed Bolton season did it.

raumdeuter:
Player V

Olivier Dacourt. Leeds, Inter Milan and obviously French.

raumdeuter:
Player N

I need to slow down before spamb00t bans me

Andres D’alessandro.
River plate, Wolfsburg, Portsmouth.

raumdeuter:
Player O

Diego easily.

raumdeuter:
Player K

Easily Valeri Bojinov. The Bulgarian/Man City link did it.

Player A. Eric Djemba Djemba

Player B. Benni McCarthy

Player D. Adrian Mutu

Player E. Florent Sinama Pongolle

All easy.

Player C. Jay Bothroyd. I didn’t know that one but got it from a little digging.