ahiboilandgas:
But for people in their late 30s ,mid level manager ,senior manager ,people with chances of heading their oraganstion ,or business people doing well locally...should think strategically b4 taking the plunge.....i think am clear now

Always on point senior man
Me don try luck for several countries but was all denied...soo teeyy the sign became clearer that i should stay back... who knows? When i hammer bigger i go dey tour around the globe & still live my obodo oyibo dream... money talks nwanne

chelseamann:
I must confess this is the best thread in this website.
Learning new things everyday..this my small change I have must surely grow soon.
Amen

As in eh...
See me nah...
Recently, I have been jejely following... its worth it, see me now dey watch channels 10 O'clock news including the stock market news, honestly i no dey understand anything but i keep listening,

somehow somehow we go dey learn small small ... just few days ago, i figured out that on this thread that BDC meant Bureau De change

ahiboilandgas:
After the introduction of aquila tracking and closing of the broader....adamawa state when down from 120 trucks daily to 35 without any scarcity...so nnpc was subsiding west africa and central africa

Just Negodu!
Oga boss eh, your in depth knowledge of the oil n gas industry esp the downstream dey marvel me...

Meanwhile sir, do you think dangote would affiliate mini or standard filling stations when the much awaited refinery is ready and set for business...

Does he have plans of dealing with only the major marketers in the field?
.... make i know weda to start scouting for mushroom stations but in a strategic place

OgogoroFreak:
Funny enough, people always drag first.

Most of them, drag it for the wrong purposes... to complete their money to...
Get iphone
Wedding preparation
Buy Toyota camry

Sholapey:
To all parents

There was a very brilliant boy, he always scored 100% in Science.
Got Selected for IIT Madras and scored excellent in IIT.
Went to the University of California for MBA.
Got a high paying job in America and settled there.
Married a Beautiful Tamil Girl.
Bought a 5 room big house and luxury cars.
He had everything that make him successful but a few years ago he committed suicide after shooting his wife and children.

*WHAT WENT WRONG?*

California Institute of Clinical Psychology Studied his case and found “what went wrong?”

The researcher met the boy's friends and family and found that he lost his job due to America’s economic crisis and he had to sit without a job for a long time. After even reducing his previous salary amount, he didn't get any job. Then his house installment broke and he and his family lost the home. they survived a few months with less money and then he and his wife together decided to commit suicide. He first shot his wife and children and then shot himself.

The case concluded that the man was Programmed for success but he was not trained for handling failures.

Now let's come to the actual question, What are the habits of highly successful people?

First of all, there are many people who will tell you about success habits but today I want to tell you that even if you have achieved everything, yet there is a chance to lose everything, nobody knows when the next economic crisis will hit the world. The best success habit according to me is getting trained for handling failures.

I also request every parent, please not only program your child to be successful but teach them how to handle failures and also teach them proper lessons about life. Learning high-level science and maths will help them to clear competitive exams but a knowledge about life will help them to face every problem. Teach them about how money works instead of teaching them to work for money. Help them in finding their passion because these degrees will not help them in the next economic crisis and we don’t know when the next crisis will hit the world..

*"Success is a lousy teacher. Failure teaches you more."*

Inspiring
Educating

Thanks alot

hollerbaby:
Some of these seemingly silly questions , i have an idea of what the answers are but i would rather ask here from people who have been dere nd done that.

Reassurance that, what i think is right is actually right. Since i have been following this thread when tb rates where pretty good, so u know how long. I have stuck to what i know and learnt here on treasury bills .when i see bond shares i dont even bother cause i dont know it well nd tb was still paying well.


With tb gone south we need to learn other investment opportunities So excuse the silly questions, correct people gladly responded to to clear our doubts.
I didn't see u answering any. Give me time to obtain my MBA degree in bonds and shares from this thread first. Me that i hv been following the responses to other people's questions that relates to this sukuk jejely no yab us at all

Why nah?
Stop giving him audience, he will be feeling superfly now... i know his type... just ignore next time

Akpaamunsi:


Your own method is also not bad, Emmanuel just suggested a better approach.

Oh!
Great!

emmanuelewumi:



There is no point using your own salary to expand your business. Since the transport business is generating money, it is the money generated that should be reinvested.

If you must use your personal money for the expansion of the business after the initial start up. Any additional money from your salary, should be seen as a loan which the business most pay back to you

Well noted sir,
Nawa o But i actually thought i was doing myself a great deal, i mean instead the salary to unproductively lie in my account, rather add them to the funds business generates to facilitate the expansion...

N:B nobody taught me this... it has been a habit and my own understanding of compounding.... rather than having banks utilising the money in your Acct without reasonable interest.

Anyways, lesson learnt

Olaide1295:


Do you run the POS business yourself or passively?

I failed twice at running it passively in 2017. One story after another.

Passively bro...
You would have continued, within a short while you should master it perfectly well

emmanuelewumi:



Thanks business should be able to generate the capital for the expansion.

I guess you are the gentleman from Aba

All correct sir

emmanuelewumi:



That is very good. What type of business?

When will the business become self sustaining?

Pos business and keke biz
We once exchanged emails if you can remember

Self sustaining?
Have been expanding the both biz, so it keep demanding for more capital...

Sholapey:
Follow madam advice and also investment wisely. Children tend to learn from what they see their parents doing day in day out.

If you're smart, your kids will learn your smartness. Be the book he/she will be reading for a better results. Welcome to our midst, I pray your life will never remain the same as you pay close attention to this thread.

Got it
Thank you Ma...
Am so glad i am a very good sombori

emmanuelewumi:



Waiting for things to normalize is procastination and it shows you are not ready to start.

Not a matter of reading books, start by saving

Although things are difficult now, business is hard, NAHCO paid 50% salary to workers in April, Arik Airline paid 30%, Some did not pay in April

But if you have been receiving 100% of your salary during this lockdown, try as much as possible to save 10% or more. It is what you save that will save you at difficult times

Lol, I am ready to start sir...
Yea i have been receiving my full salary even with covid bonus but i have been re-investing in my businesses without savings except few fund set aside for fam expenses and miscellaneous

emmanuelewumi:


It depends on you. You are the only person who knows how you operate your home.

The starting point is savings.


Have you bought money market funds or Treasury Bills?

When what you have is substantial, you can then start thinking of business or Investment

Thanks..
No, i dont have any mmf or tb... more reason why i am here... i understand the rates are very low this period but i am patiently waiting for things to normalise as advised here...

Appreciate sir

olujaidi:


I don't have kids but I know they imitate your behaviour, imbibe your beliefs and your consistent statements. So, I'd say you should invest in yourself and improve your actions. Make yourself more knowledgeable; watch what you say; let your actions be consistent with what you preach. Explain things on the news to them as well as the implications. I don't know if it's possible to teach delayed gratification though. Make sure your missus is on board.

As they grow older, get them piggybank/Kolo and make sure they put the money in themselves. Make them personally responsible and frequently check on them to make sure they're accountable. Teach them your own skills eg negotiation

This is morals!
Once heard about the piggybank methods as they are growing....
Many thanks bro

emmanuelewumi:



Get a budget, operate within the budget try and save 5% of your income every month for a start, cut off unnecessary expenses then increase it to 10% and more Get a side hustle which can generate more income.


Education of our children is a right that can't be negotiated, giving them a headstart through good investment is very important in Nigeria.

The average person will think of only education, don't join the group of the average Nigerian.

Thanks for the insight senior man
Do you mean, Saving 5%-10% of my income in a savings account or just setting up an account in her name to be managed by wifey or sth...

Yea, i work as well have side hustles which i intend to increase

Theconglomerate:
If you have a business that you run,carry the child there.
With time,he or she may pick interest and begin to learn at a very fast rate.
You don't learn business by reading books.That is the biggest fallacy I've ever seen.
Most times it is by intuition and/or practice.
To be a successful investor sef isn't learnt in books,you learn from mistakes by actually doing stuff and perfect your skills over time.
If you doubt me,buy your kid books let him read and see if he doesn't end up lecturing the business whatever las las..

Thanks bro
You nuture one first, before you carry them to the business like you said lol
I mean, you nurture then practicals follows... don't be surprise during nurturing... they might develop interest in sth totally different...
Thanks for the input

As advised by one of my oga here... get addicted to this thread and learn more... honestly, its paying... i am applying some of the ideas, knowledge & experience shared here to my business although i am still understudying the numerous investment opportunities that are being discussed here... one day, very soon, i will join the wagon as i have only done bank fixed deposit in the past... i appreciate all contributors here... more Grace guys

On the other news, wifey rarely visit Nairaland however i have been discussing some of the info i get here with her... long story short we had a lil quarrel last night about the "biz biz Investment investment" hunger... told her its for our good and future, you know...
She said, don't i know properly raising kids are more important? infact they are the greatest investment and assets one can ever think of...

the other day, i told her about the must read financial books that was shared here and i am already planning to get all the books... i slept yesterday within having my dinner...

I know, raising (financial, smart etc) kids can sometimes be challenging/diffcult... please can the expirenced here, share some tips, ideas etc... recommend child raising books as well if you know of any...
We have just one beautiful daughter, shes 10 months plus, we got married barely 2years ago

Olujaidi, Ahib, Emma, Ma Sholapey & other bosses make una choke mouth...
Sorry for digressing a little

XiaoLi:
Must it be Canada or west? He will also make good money working in South Korea or Japan and can use his pay to do export from those countries if he is business oriented.

Japan dey give visa? For where? Even south Korea don join body to dey reject n deny blacks especially nigerians... with the c-19 palava, i seroously doubt if them go consider anymore however
These two countries are great

Nawa ooo
The rate the thread moves eh.... was shocked to realise that about 40 pages have added from my last visit on saturday...
Interesting i must say
The exchange of knowledge/ideas (argument) was educating... for me, just be comfortable wherever you are even if na Rwanda you reside...just be okay (rich)

In between, we must note quote someone's long epistle, just a part of the post can be quoted... makes the thread short and easier to scan/run through ...

Double tuwale to the gurus in the house...

ahiboilandgas:
If ur fund size is small 1naira -5m and u have time ,determination,dexterity then fixed income investements is not your...u better run /invest a sme , this will help your grow your capital ,skill,and knowledge faster... the owner of L AND Z DAIRY started like play play ..now the even imported bulls for milking from holland ...and earn from the entire value chain....there fresh milk is on shelfs of shorprites while production is done over 1000km away ....if c way water can generate money selling bottle water...funds for investments come from enterprise,salary,saving etc not the other way round....

Oga boss... i dey find the lnz yoghurt... its really scarce this time...of course i know the pandemic is the culprit... its out of stock... do you know if they are still producing?

ahiboilandgas:
dont worry try and get addicted u will grow ....i was doing fixed deposit too of 800k in 2007...

Alright sir

ahiboilandgas:
A bond auction is happing next week investors get ready

Senior man
Na this kind thing i have been anticipating for here atleast those of us that can easily spare 500k, 1M plus can grab the opportunity as long as its lucrative or risk free...

The only money market i knew before now was bank fixed deposit... thanks to this very informative thread as i am gradually learning the financial terminology while i await opportunities meanwhile money way una dey mention here eh, go easily discourage peeps o but nwanne we die live here!

Thanks to every guru that shares impactful info here...
One day we go testify too

emmasoft:


Being frugal most times start from the mentality of placing the right value on things without sentiment or emotion, delaying gratification and having in mind that the most expensive things does not necessarily mean the most effective.

Wow!
Mature talk
I keep learning...
My favorite thread...

I concur, most expensive not always most effective

emmanuelewumi:



Just do what you think is best for you and bear the consequences

Short response but impactful
Thank you sir

mk82:


Your level of the practice of frugality is determined by your financial/investment plan and projections, the stage you are on those plans as well as your type of business/occupation.
Depending on how you get money, you should have a percentage or amount set aside at regular intervals to invest towards growing your net worth. Once you've met this target for that period, you can decide to be less frugal with the excess money after meeting your basic needs and responsibilities. The rate of accumulation of wealth is directly proportional to how much of your income you are able to invest periodically.

Take for instance a vehicle purchase. Buying a 1.5M tokunbo car may "eat into" Mr. A's investment capital while it will enhance Mr B's status and help him to do better business
The said Mr A could decide to wait for a year or two during which the 1.5M has aided the growth of his investment and be in a financial position to buy a more expensive car without disrupting his financial plan.

It's easy to be thrift once you get rid of negative/unsupportive social influence. If you want to succeed financially, you must learn not to "send" anybody or greatly reduce the number of people you "send"

Thanks bro
You are really a financial analyst...
I shared your response with wifey, "she said nawa o...person go dey multiply, compound, increase, expand, invest more... wen we wan enjoy ni"

I get your point sir

unite4real:


As long as you spend heavily on quality food like you said, then you are expected to cut down on supplements. What are u supplementing when you have a well rounded balanced and quality meal.

You see, busy executives really have no time to eat well, so they spend a lot on supplements. If u eat well, you have less need of food supplements. So cut down on that part.

Bro...thats not true ooo
There are some vitamins that are rare that you can hardly get from our ijebu garri, Abakiliki rice etc (just kidding)
Thanks though

emmanuelewumi:





Very good summary. In the Millionaire next door, it was reported that Americans of Jewish, Irish and German origins have more concentration of the American millionaires. The Irish are the most frugal.


Frugality is the starting point

Talking about being frugal, sometimes i really find it difficult being stingy with some things...

I dont care about material stuffs... designers clothes, watches etc
But when it comes to my children education,healthy food, supplements etc i tend to even spend more than my budget, i mean get the very best...
Would you still consider my actions to be reckless spending when there are cheaper alternatives?

A typical example during wifeys pregnancy, i go for the best foreign pregancy drug which cost about 8-9k per pack while the local drugs at federal hospital can be gotten at 500 naira per pack... of course people do take...

Just want to understand you perfectly well when you say being frugal

ahiboilandgas:
u are missing somethings my margins are higher cos of pef ....

So PEF still dey work ni?

500k cash
Let me arrange a date for inspection?

juniorrate:
Nice thread

Bro,
How do i ask you sth Offline?
Any means of reaching plz...just to seek advise from you but its private.
Thanks

750k cash