emmanuelewumi:



He doesn't want the wife to be richer than him naaaw...


Okonji Iweala is richer than her husband, that would not have happened if she was a full time house wife

Okonjo-Iweala's husband is a neurosurgeon. I might be mistaken but that's probably the best paying medical specialty which currently pays a median salary of 656k. The president of the world Bank earns $516k. Now he's always been a neurosurgeon but she wasn't always a top shot or minister.

I can only compare based on salary. I don't have details of other compensation from board positions or investments

missjekyll:



This is a deeply unhappy woman. The husband has not put any effort into making the closest human being to him happy. He deserves all he is getting.

EDIT:I just read that he stopped her,a graduate,from working. This is his karma.

She's taking advantage of his trust. If not, why hasn't she stopped it? Instead she's afraid that she won't be able to continue. Her current career is to fleece him, lol. It looks like she feels justified to do so. If so, what could her motivation be?

Are you disguising selfishness as karma? In that case, what's her own karma?

ukay2:


People also influence HMOs.

It's just to decide not to partake in corrupt practices

Agreed but only up to a point. If you've paid the premium, your medical costs will be covered to some extent (depending on your plan) which limits the out of pocket expenses. Also, some employers pay for health insurance so the premium doesn't need to come from the staff. In which case, the amount that can be swindled is much lower than it would have been otherwise

emmanuelewumi:



So you want to marry a woman that is not poor? What is your definition of a poor woman?


I think one should not marry a lazy woman, with the wrong attitude about money. This include making of money and management of money.
Avoid women and people with an entitlement mentality.

Avoid selfish people.


A lady once got in touch with me on Nairaland, she is a full time house wife. She wanted to invest N10 millon. I always ask people the source of their funds
The woman said her husband placed her on a monthly salary of 150k every month, she inflated house expenses and the children school fees. Which she claimed she uses in settling her parents and siblings expenses.

I now told her to first of all discuss with her husband, because my wife always seek my advice whenever she wants to invest.



But this woman said she could not tell her husband, she said if the husband should know that she has that type of fund, the husband might reduce her salary, reduce house upkeep allowance, start paying the school fees himself and scrutinize all expenses.

Apart from that she said her husband was currently broke, he needed a loan of N5 million from his bank that will fetch him a profit of N2 million.


I sha advised her to buy money market funds, but whenever I remember that encounter it makes me to fear and respect some women.


Madam don't be offended if you are reading this, I didn't put your name. We are only sharing experience.

Women have finessed boyfriends and husbands since tipe tipe. I remember hearing such stories as a child and as an adult from older women with all sorts of justifications. If the husband tries to question these things they resort to using his sense of responsibility against him with emotional blackmail (among other tools). These aren't even housewives o. They're professionals with established careers.

emmanuelewumi:




It happens even in private hospitals. How some women inflate the bill and settles the doctors and the accounts staff of the hospital.

Using an HMO plan could mitigate this

OgogoroFreak:
Ok, just imagine if he didn't invest at all?

The fact is, the currency has depreciated. I'm not talking about whether or not he's personally better off.

averagejoee:
Honestly we need to give all the bosses thumb up, from Feelamong the originator of this thread, pa emmanuel, ukay2, the oil man ahiboilandgas and so many others here. Honestly there are thousands of silent followers who are reading this thread.I remember i was seeking advise from feelamong on investing on the FGN SUKKUK bond, thank God i followed his advise to lock up the fund imagine coming from a rate of 18.5% to the ridiculous 3.5%

Yeah well your currency has lost 20% of its value too

delawal:


i bought few dollars at 408naira this morning for bdc in the east. hoping to buy more at 400 or less by tommorrow.

speculators dn dey flood market wit their hoarded dollars hoping to sell off fast.someone was even begging to sell to me today i said i no want. make i wait till moro

People who bought between 360 and 380 will make profit.

Theconglomerate:
for where?

BDC
my dealer

FX rates crashing...it's now 425 to $1

MisterKings:

Or you invest it into treasury bills which can pay you about 10% every 3 months or so. That is about 1 million naira every quarter or about 300k monthly.

Your money still remains intact.

That's the last information I received regarding treasury bills unless they have changed.

This is incorrect. The 10% you mentioned is an annual rate not a quarterly one. Secondly the rates have fallen drastically

Theconglomerate:
Now this is why I asked you that question in the first place because I know too well that the fx used to purchase this rice does not come from Nigeria.
Rather countries like Benin rep,Cameroon,Togo,etc....So this is why I had doubts as to why smuggling of rice from those countries to Nigeria should affect fx pricing in Nigeria.
Nigerians don't go to these countries and import rice through them by themselves,no!There is a chain of command as there is in any other business.
They go there and buy from indegenes of that country who are dealers and bulk buyers of rice in those countries who source their fx for rice from their local economies.
The only effect amugglingof the product have is to beef up demand for their local currencies thereby strengthening it to the naira by little degrees,which is even a good thing as it discourages round-tripping(which even is proof for naira strength) and currency smuggling and beefs up Nigeria's informal export sector which is huge by the way.

First off, I said "might". Rice isn't the only thing smuggled anyway. Secondly, if that's the case, then why didn't this affect the exchange rate?

Theconglomerate:
How is smuggling to be blamed for it?
I'll really love you to teach me if you can.

My thinking is that the FX used is still sourced from Nigeria isn't it? Official records have it that importation of rice has fallen so except if something else took its place, demand for FX should have reduced, yet, we're still the second highest buyer of rice globally. Can you reconcile both?

ahiboilandgas:
after we stop rice the naira was supposed to move back to 250...

Smuggling might be to blame for this. Local production cannot currently meet local demand. Does the refinery lack this capacity? Will there be smuggling of finished petroleum products?

ahiboilandgas:
cbn and Nigeria state has effectively wipe out all profit from your tb investments since 2017, imagine a man that kept 100k (15m ) in 2013 now has over 45m naira ...this shit.....the depreciation rate is 3 much not even after 20 years....if now that we are farming rice the currency is it lossing value .even the Dangote refinary eill not change things......naira is a dead currency

Why do you say the refinery won't change things knowing fully well that a good chunk of our FX earnings are used to finance import of petrol?

[quote author=wura2u post=88994576][/quote]
Newgold ETF. Look it up

Olaide1295:

I listened to GTB earnings call days ago, they have $1.3Billion in dollars(not customer deposits). They are also hedging against devaluation.

How did you get the information about the earnings call?

TotoNaRubber:
The reason why buying dollar at this time is a rip off


The current buy rate for dollar stands at N460/$ while the buy rate for euro is N450/€ (This is economically impossible, euro is stronger than dollar anywhere in the world and has always been, and will always be EXCEPT in the manipulated Nigerian black market).

How did you determine the relative strength of the Euro? What objective criteria did you use?

emmanuelewumi:


The current realities in the country has made it important for us to take elective courses on the subject.

Do you think that the $3.4b loan from the IMF will have any impact on exchange rate? Also what are the odds that the CBN will restart interventions or devalue further when the lockdown is lifted?

emmanuelewumi:


The current realities in the country has made it important for us to take elective courses on the subject.

Do you think that the $3.4b loan from the IMF will have any impact on exchange rate?

ahiboilandgas:
cbn and Nigeria state has effectively wipe out all profit from your tb investments since 2017, imagine a man that kept 100k (15m ) in 2013 now has over 45m naira ...this shit.....the depreciation rate is 3 much not even after 20 years....if now that we are farming rice the currency is it lossing value .even the Dangote refinary eill not change things......naira is a dead currency

Why do you think the refinery won't change things?

9jatriot:
I would have told you that the probability in most cases is low, but it is a very sensitive topic for most people so I will let it slide.

Probability of?

Akin3891:



If there is only one thing I can vouch of my self, is not succumbing to peers pressures at least right from my university levels, I'm a kind of eagle that flies alone. I'm so basic economically that you won't pass if you try to study my worth.

If you don't, your spouse might be the weaker link and vice versa. And it won't be easy to resist that pressure. Or you can have peers with the same mindset to help resist it.

Akin3891:


Kinda hard to buy a plot of land worth 12 mills in lagos mainland and not dwell among the riff raff or poor people. That has been my concern lately , having just acquired a new whip then I started to feel unease, when I drive by, I see people pointing at me or looking at me in a way that make me feel unsafe, my neighbour's also told me how he also feels all eyes are on him because he's got a lovely house n cars too. Note, I've been in this area for 12 years now with my small cars and nobody notice me. Mind you, this my car in question is a toy that people won't look twice in porsh areas. Of course I'm planning to sell off n move. If you live among your likes, you kinda have peace of mind and less worries about jealous neighbours

The flip side is you might move to an area where you'll feel pressured to keep up with the Joneses. There's peer pressure at all the levels of society

TotoNaRubber:
You are quite right, everything in Lekki is somehow over-priced if you keep going to most places in Lekki designed for the rich in Lekki.
Even the Freaky freakys are not left out, I carry one earlier this year after lap dances in Askamaya Lekki, she floow me enter house (first mistake), see everywhere nice, she went to the rest room and came to the bed, my blood was already hot so i told her baby, see bed make we start o as it was already 1am, she said make we talk first, i was concerned so i listened attentively.

To cut the long story short she said i will give her 30k by morning which will be around 6am as their normal departure time, my N10k bargain fell on deaf ears so i told her well, i will not entertain blackmail (in my mind), She said N30k or no deal, i said ok now thanks for coming, she say make i give am cab money, i gave her N1k she refused o, i quietly told her to come outside with me to go find more money, once i dey outside i made it clear na N1k dey for cab, she flung the N1k at my face and left angrily. The next day i drove down to Ajah and picked up a fresh Freaky freaky for N7k, total damage N10k max. Total saving N20k.

So island can be quite pricey.

Leeemmaaaoooo

Punch newspaper did a story about pricing disparity for such services 2 or 3 years ago. Mainland is even cheaper, according to the Punch report o. Not personal experience

HoraCanada:
emmanuelewumi,

Sir, as a salary earner and single, who's serious in investing, please proffer a typical monthly percentage guide to set aside for emergency funds, savings, Investment, monthly expenses. This will serve as a guide for those keen in becoming financially independent over time. Thank you

Rule of thumb 50:30:20

50% on needs, 20% on wants, 30% on savings and investments. Outline your expenses, trim the superfluous. It won't be easy particularly if you shoulder some responsibilities i.e. black tax. Whatever you do, make sure you save, invest and reinvest the returns so you can take advantage of compounding. Be prepared to say "No" more often

Mills55:
Please my people, this just an information. I notice that once u have a substantial amount in ur account, u start getting scammers calls and text messages. If this is not an insider information, then means this scammers are using black power. But I think it has to do with insider info. Just be careful at this trying time, as many of them are out there looking for who to scam. As u dey hustle, na so them dey hustle too. Don't be a victim.

Lol. That's why posters were frequently admonished not to mention the amount of money have or are looking to invest