₦airaland Forum

ikorodureporta:
Pls, I need yr recommendation

Missionary school or non missionary school?.

mufutau55:
Wel done brother. I am glad I didnt miss this project.
This is a real money gulping project, but will be worth it when it's finished.
Keep up the good work and carry us along with more pictures o. Thank you.

Hajji M.

Make i follow my Oga Hajji perch for here to see this project.

1stNumeroUno:
Hi Experts/Pros, I've been reading from page one and I need to confirm if what I'm assimilating is correct.

Let say I've TB offer of 10% for 91days tenure from my bank (secondary market) and I'm doing N1m. Does it implies that I'll pay 900k at inception and I'll be given N1m TB certificate. At maturity (after 91days) I'll collect my 900k and go home with N20,250 as interest?

awesomeJ:
Good thing you know your interest wouldn't be 100k.

It would be 25,000 ( I don't know how you got 20,250 though)

So at inception, this 25,000 is discounted from the face value of your investment.
I.e 975k is debited.

On maturity, you'd get 1m credited to your account.

I = PTR/36400 = (1,000,000 * 91 * 10) / 36400 = 25,000

.

zamirikpo:
in essence my broda should we have any hope of getting to 12% any time soon.

awesomeJ:
Yes sir. Before end, Q3.

That will be good as my two TBs are maturing end of August and mid September.

Chekitaut:
Hajji start page 1000, i end it, am dancing shaku shaku...

Na me come move am to page 1001.

I must join page 1000 by fire by force.

Edit: Chai, i miss am.

gbadexy:
let me usher the page into 1000

Make i move am to page 1000 then.

Qc1:
Oh! I'm sorry ooo...! I thought that was just another 419ers from Las gidi. I usually don't give them audience. Moreover, I wasn't in the mood to dash money out to any nairalanders anymore. To be honest with you, I didn't even read a word of your email before I replied. Once again, my sincere apology.

Oga Qc1, longest time. How far with your project?.

anitank:
Just left first bank. Got 364 days @ 11%.

Ifelove1:
You mean secondary market?

anitank:
Yes secondary market

How is that possible?. 364 days in secondary market when the highest tenor in NTB primary market is 364. Did the bank or individual buy from primary market and sold that same day to you?.

TONY56:
Very unlike Stambic, my matured NTB-the very first transaction for this year 2018 has dropped into my account as 13:37pm.
Stambic used to credit accounts on or before 12noon.

Has anyone been credited today?

Shuoooo. Oga, were you wanting to earn interest on the money per minute basis?. . There is no much difference between 12noon and 13:37pm now. Moreover, it could be the network that delayed the sms alert message.

Zahn02:
thanks ma

Iam a man o.

Anyway, just relax. Many women panic a lot these days about their kids learning and always want to rush the child.

Zahn02:
Hello mama Zaynie, have been a silent reader of your diary. Please ma, my son hate anything about school, he doesn't like reading at all. To teach him pencil grip na war. He will just be crying. How can I help him? He is just 2yrs

My son who is now 12 years old first step his feet into a school at 3 years old. He entered nursery 1 at that age. He did not do pre-nursery. Children are different. So give the young man time.

MumJJJ:
No, he still has nursery 2 and 3 to complete before primary 1.

You should relax then. The young man is just enjoying his baby years. I believe there are kids that catch up late. Nursery school is basically for play.

MumJJJ:
He is 3years and 8 months, that's, he will be 4 years by October. He's in nursery 1.

This means that he will be in Primary 1 in September when he is 4 years old. Is 4 years old not too young to be in primary 1?. Could this early schooling be the reason as it might be that he did not play enough.

zamirikpo:
Ok....guyz I was deep in thoughts today but would like to get ur thoughts on the real effect of inflation on the naira.
In the spirit of locking up funds for 20yrs in TB and hoping to profit from compounding interest what would be the real value of the naira in the same period. 10yrs back I could buy a bag of rice for 8 - 10k so when I see even 1m in my account I know it's a lot of money. Today I need 20k or more to buy the same bag of rice.

So my question is how much value would my compounded interest have after 20yrs......it would be very funny to buy a bag of rice for 150k in 2038.

How does this inflation thing really work over time.

Iam really confused on the workings of this compounding interest on TB. Interest on TB is paid upfront. So how does compounding come in?.

Jarchi:
Buy my popcorn make i help you give the okada man change.

Give okada man change ke?. When i see say na Oga Spyder dey for site, i just dash the okada man the change.

mufutau55:
I like the bedroom colors, they are cool and lovely.

Hajji M.

That sitting room colour just dey hungry me to repaint my sitting room with am even though the one there still be like say na yesterday dem paint am.

Okada, drop me for here. I don see something.

awesomeJ:
This one even has piechart and yearly breakdown. Awesome!

But I tried editing the figures, the result isn't changing.

You can also click the 'Calculate' button after inputting them.

zamirikpo:
Awesome calculation and a very sound review. First I don't know about most of the guyz here but in 20yrs driving a lambo with probably my walking stick may not interest me, Savings and compounding interest maybe a sure thing but too slow for my liking, and like u mentioned devaluation of the naira and other unforseen events could affect expected returns.

What we should concentrate on ,is on the best strategy to save and compound interest,at whatever initial capital we can afford and see where it takes us. And also explore other ideas in real estate and other possible investments that may churn out money faster.

@awesomej I am very bad with calculations but how much would I save in 20yrs if I have an initial capital of 10m today with a monthly savings of 300k. @ a minimum interest rate of 11% in TB.

rationalmind:
Around 325m. With 18% rate, you'll have 851m.

Apparently, with compound interest, every little difference in rate matters. We have to hope rates return and remain around 18 levels.

Use this link below for calculation.

http://www.calculator.net/investment-calculator.html?ctype=endamount&ctargetamountv=1000000&cstartingprinciplev=10000000&cyearsv=20&cinterestratev=11&ccontributeamountv=300000&ciadditionat1=monthly&printit=0&x=69&y=20

ahiboilandgas:
pls check ur calculation again even at that it will not about to 1 bn

It will. I have a financial application written by us that i use and also compare with google.

I do not know if i can post the link to the google search i use here as i do not know if it will earn a ban.

GODAKPAN:
Average of 25m annually but with time you save up-to 100m and even 300m depending on your capital

This is doable but how many people dey earn 25m annually?.

ahiboilandgas:
why fear is possible it might take 34 -40 years if u invest around 50 m today at 15 for 35 years....but how many people get 35 m from salary saving ??

I just did a simulation as follows:

Beginning Amount - 0.00

Rate(%) - 15%

Term - 20 years

Deposit Frequency - Monthly

Ending Amount - 1,000,000,000.00 (N1B)

Amount Deposit at every month - unknown

The calculation gave me a monthly deposit of about 670k which is about 8.0m yearly.

How many people earn 8m yearly?.

ahiboilandgas:
not possible cos even if you compound 35 m yearly for 20 years this will amount to 532 m by 2039 ....

Fear catch me o.

WhichKindWahala:
What about me that have 120k

MMM will be best for you.

GODAKPAN:
Personal, but have said it over here that am a salary earner and so I invest monthly, wrapping the investments annually. My entire earnings are invested except my wife's allowances. I use only the interest to run around. With steady investment u tend to earn more than your salary at a point and your investment doubles and later triple and so on. I failed to also let people know that being a billionaire from savings depends on two things: amount saved and number of years.

I know it is personal. You can give a range for people to learn from. Lack of financial education is a big problem in this country. Many people do not have the patience and discipline for it. I recently sent what i do monthly to somebody as iam a salary earner and he was shocked.

GODAKPAN:
Continuous savings and partial compounding. Still depends on how much you save in a year. And I realized that the more the investment, the more the profit and the more the savings. You will only have to sacrifice your comfort at the initial two years. Mind you, this applies to monthly earners with steady salary. Plan your retirement from the day you start working and you will definitely not spend half of your life time working for others.

Please what is the amount to start with to become a billionaire?. The document you posted is not clear.

Comeandcollect:
Rental income in Nigeria is very discouraging apart from places like Lekki Phase 1, Elegushi area, Banana Island and some parts of Abuja.

Your property valued at N30m yielding rental income of N1.5m/annum will comfortably n currently give you return of N3.3m/annum with TB but no regrets you have a fixed asset i.e a house.

I am a fan of Real Estate but the last thing i will do is to use my hard earned money and build a property for people to owe me for even one day. TB's liquidity, stress free and flexibility makes it worthwhile.

Also, the exposure that come with real estate is something most people don't like to deal with, as soon as you build a one bedroom flat everyone sees you as a boss and bring their problems to you not knowing you deprived yourself certain things to improve your financial capacity.

T-Bills is a good start even Barrack Obama invests in the US Treasury bills, it is good to start with T-Bills and when you have enough cash go for Real Estate but only in a developed area, depending on your level of patience you could also buy in places with potential to develop but it's very risky.

This is a big issue. I went home for xmas and one young guy that is lecturing has a rental property in the location where he lectures. The news was all over that he has a rental property. My sisters were all indirectly asking me why i do not have. I had to ask them that it seems the rental property of the guy was aired by CNN, BCC and co for everybody in the village to know of it. I can imagine the number of calls that guy will be receiving by now. As for me, whenever anybody that calls me, i just say 'you know we are in Buhari times' and that is the end of it or they will say just give me anything and i will just send one small amount. If i had a rental property, all of them will calculate and wait for when i collect the rents. It seems once you have a rental property, everybody knows about it.

Niyi74:
Thank you for this insight. Computer Science is gradually suffering the fate of Engineering in Nigeria with the mentality that it is all about 'programming' just like the thought that engineering is all about maintenance and repair. What many term programming is just coding, that is writing instructions in a language the computer understands. Programming is far deeper than that as it requires critical thinking and d[b]eep knowledge of algorithm and data structure. [/b]

You miss out databases. They will think databases is RDBMS.

Reski:
Computer science is not all about programing. Even in software development writing the code/ programing is just a tiny aspect. Due to low barrier to entry in the programing field everybody now feels computer scientist are no longer important. In terms of software development sef have you ever seen Nigerians build world class software that will power rockets or driverless cars. Or super apps like uber. The answer is emphatic No. Because the industry is saturated by deadbeat coders that think they are hippsters with know formal training or ideas about what software engineering is all about.
Abeg i don tire to type.

Why you dey waste your time self to explain?. I normally laugh when people say that why go to university to study computer science when a secondary school leaver can just code. People think computer science is about programming. It is like saying why go to read civil engineering or building engineering when baba bricklayer can build a house by joining blocks together.

Agbaletu:
He put the 20k balance there, the space was not filled by the issuer of the receipt. The writing style is not the same with others.

That is not only where the scam is. 'Total Amount' said 15,000. 'Advance' is nil and then 'Balance' is 20,000. How can Total Amount be 15,000 with a nil Advance and Balance become 20,000?. If there is nil advance, then Balance should be 15,000.

The OP has already paid the 15,000. That is why Advance and Balance are nil.