ojesymsym:
All these una 400million per month wen una de call, which people when de work de receive am for Nigeria. Secondly, which kind of workers also de receive am for US?

That was just to understand him better with his comment on preferring a 100m earner with passive income over your 300m CEO monthly salary.

Macktaob:

That 3.6b is just a year savings. 15 years at a stretch should be 54b if my calculation is right. That's more than enough for him and his at least one generation to live on considering they also would grow to start working for themselves.

Savings earn interests, which is a form of passive income At 5% N3.6 billion will give an interest of N180 million per annum

emmanuelewumi:



Savings earn interests, which is a form of passive income At 5% N3.6 billion will give an interest of N180 million per annum

Yea right. But he never invested, just dumped his cash for safekeeping. That's just my point

Macktaob:

That was just to understand him better with his comment on preferring a 100m earner with passive income over your 300m CEO monthly salary.

Salaries are per annum and not monthly.

No CEO in corporate Nigeria earns N300 million per month or N3.6 billion per annum.


The highest should be about N1 billion per annum

Macktaob:

Yea right. But he never invested, just dumped his cash for safekeeping. That's just my point

Safe keeping in the bank will pay interest, who keeps that type of fund in the house.

The account officer in the bank who pays the company's salaries, who have sold numerous Investment opportunities to him.

emmanuelewumi:



Salaries are per annum and not monthly.

No CEO in corporate Nigeria earns N300 million per month or N3.6 billion per annum.


The highest should be about N1 billion per annum

Yea, that was some wild assumption. But I feel you got my drift

ojesymsym:
All these una 400million per month wen una de call, which people when de work de receive am for Nigeria. Secondly, which kind of workers also de receive am for US?

The young man just dey quote figures any how and creating imaginary scenarios

emmanuelewumi:



The young man just dey quote figures any how and creating imaginary scenarios

emmanuelewumi:



The young man just dey quote figures any how and creating imaginary scenarios

His point being that, when you earn enough money, you don't need to bother about passive investments

Valid argument I have to say except that most of us don't earn that much money.

rationalmind:


His point being that, when you earn enough money, you don't need to bother about passive investments

Valid argument I have to say except that most of us don't earn that much money.

What happens if the rich guy with good income is involved in a plane crash or is down with strokes, will his family continue to maintain the lifestyle they are used to


We can't work forever, a well paying job can be disrupted by technology or competitors, at a point in our career we will be retired or retrenched.


Salaries that are not saved and invested to create income while we sleep, will turn us to slaves with golden handcuffs

Macktaob:

That was just to understand him better with his comment on preferring a 100m earner with passive income over your 300m CEO monthly salary.

Not a matter of preference just that one is rich and the other is wealthy.

The CEO is rich and the Investor is wealthy.

The wealthy one can easily absorb any shock, emergency, accident or health issues compared to the rich CEO

emmanuelewumi:



Not a matter of preference just that one is rich and the other is wealthy.

The CEO is rich and the Investor is wealthy.

The wealthy one can easily absorb any shock, emergency, accident or health issues compared to the rich CEO

Exactly what I disagree with, sir. As long as the rich CEO saves, he still would be richer than the investor at the point of calamity. The only question would be for how long since the investor most likely would still be getting his dividends while the rich CEO has only his savings to manage.

Despite the above, if he got guided right or he chose right to the path of investment/business at that point, he still would get fatter dividend/profits than the older investor, former 100k earner.

A lower figure can still be used to understand my perspective. A 500k monthly earner with 250k monthly savings and 100k earner with 50k monthly investment amounting 70k dividend. The 500k earner would still always be ahead of the 100k guy so long he stayed disciplined to his saving habit.

Macktaob:

Exactly what I disagree with, sir. As long as the rich CEO saves, he still would be richer than the investor at the point of calamity. The only question would be for how long since the investor most likely would still be getting his dividends while the rich CEO has only his savings to manage.

Despite this, if he got guided right or he chose right to the path of investment at that point, he still would get fatter dividend than the older investor.

A lower figure can still be used to understand my perspective. A 500k monthly earner with 250k monthly savings and 100k earner with 50k monthly investment amounting 70k dividend. The 500k earner would still always be ahead of the 100k guy so long he stayed disciplined to his saving habit.

One is rich while the other is wealthy.


If his savings can cater for his expenses for eternity, you are wealthy. If your savings is equivalent to 25 times of your active income you are good to go. At least interest on the savings will be more than his salary.


Wealth will provide for you for eternity, a rich man will continue to work or hustle to pay his bills.

You have agreed with me that we can't be wealthy without savings and Investments, these are what give passive income

emmanuelewumi:




One is rich while the other is wealthy.


If his savings can cater for his expenses for eternity, you are wealthy. If your savings is equivalent to 25 times of your active income you are good to go. At least interest on the savings will be more than his salary.


Wealth will provide for you for eternity, a rich man will continue to work or hustle to pay his bills.

You have agreed with me that we can't be wealthy without savings and Investments, these are what give passive income

This, I 100% subscribe to without an iota of disagreement. Just the flaw in the comparison of figures, I was tryna point out.

I'm a sucker for passive income also of course, "Richest man in Babylon" made it so with so much emphasis . Despite being a lil fortunate with fair monthly income, I still feed very casual, no thanks to "a certain % of my monthly income must be invested".

So, investment is key sure to passive incomes. But how much you have to invest to achieve financial freedom is another interesting side of it all.

emmanuelewumi:




What happens if the rich guy with good income is involved in a plane crash or is down with strokes, will his family continue to maintain the lifestyle they are used to


We can't work forever, a well paying job can be disrupted by technology or competitors, at a point in our career we will be retired or retrenched.


Salaries that are not saved and invested to create income while we sleep, will turn us to slaves with golden handcuffs

Insurance, death benefits and accumulated retirement money will be paid to the family. They will live a good life. And the kids will get a good education

Lazyyouth4u:


Insurance, death benefits and accumulated retirement money will be paid to the family. They will live a good life. At least the kids will get a good education

We know what people go through trying to get insurance, death benefits etc in Lagos and other parts of the country


Having a will , trust accounts, Investments etc are parts of a very good estate plan.

Even with a will, your family might not get the benefits in 2 years.

Having liquid savings is also very important.


Why do people sell assets and Investments etc, when processing inheritance etc, they need cash in order to pay for the death tax. Some these assets are usually sold at give away prices


While make our Estate plans we need to consider liquidity, having cash is also a strategy

emmanuelewumi:



We know what people go through trying to get insurance, death benefits etc in Lagos and other parts of the country

Multinationals and other international companies pay these benefits to the families sharp sharp. No time wasting.

Lazyyouth4u:


Multinationals and other international companies pay these benefits to the families sharp sharp. No time wasting.

Definitely not the funds in the retirement savings account.

You need a will and it will go through probate, payment is processed by PFA and approval needed by PENCOM.

No be moin moin

emmanuelewumi:



Definitely not the funds in the retirement savings account.

You need a will and it will go through probate, payment is processed by PFA and approval needed by PENCOM.

No be moin moin

I said multinationals and international companies. They pay the money (insurance, death and retirement benefits) to the beneficiaries that the staff member specifies.

PENCOM contribution is just to satisfy the laws of the land. Still extra money for the family after the dust settles

If this question reflects one of your concerns when it comes to investing, then you should read on.

The first thing to bear in mind is, with investments, there is no such thing as a little investment. You do not need millions to start investing, you can start where you are. Once you've established a savings culture that allows you set a substantial amount aside, and your mindset with regards to investment is intact, then you can invest.

Be sure to grow your skillset to help you earn more, then know what your risk appetite is, before delving into investment. We'll advise beginners to start with a low-risk form of investment such as mutual funds, treasury bills. The reason being that they low risk(there is little to no chance of you losing your money) and they have good returns when allowed to mature for the minimum holding period.

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Lazyyouth4u:


Multinationals and other international companies pay these benefits to the families sharp sharp. No time wasting.

Which sharp sharp! Oga! You are talking from a point of Ignorance

freeman67:


It is likely to be next week...It happened last week. Haven't seen the calender though.

Thanks sir. It's definitely next week, since there was one last week. Thanks alot!

...

Tobex4realTobex234:

This one follow for news.When tesla open plant for Ghana you let us know.For now we are okay with innoson motors,lol

Tobex4realTobex234:

It's been a while egbon

Hi
An old follower here. Have been in and out of Tbills for a while.
I recently downloaded Bamboo app to attempt investing in foreign stocks.

Does anyone know how it work and if it’s a reliable venture.

5 Financial Pitfalls Entrepreneurs Should Avoid When Starting A Business

1. Merging Business and Personal Accounts

Not Having Separate Business and Personal Accounts is one of the recipes for failure in business. Every penny your business earns shouldn't go directly to you if you're invested in the growth of your company and building a stronger future for yourself.

Owning separate bank accounts will also allow for a more accurate picture and assessment of your business’s financial health by preventing an overlap between what you personally earn and spend, and what the business's revenue and operational costs are.

Separating your business and personal accounts promotes a very different way of thinking about how your business factors into your life.

2. Having Unrealistic Financial Projections
Projections made without due diligence done might be the undoing of the business. Data exists for a reason and business owners who ignore them might be setting up their business for failure. Entrepreneurs should ensure they have the right data and extensive research done to plan accordingly and make adjustments when necessary.

Setting realistic financial projections for your new business involves doing market research, getting your prices right and leaving room for factors that can affect the economy.

3. Failing to Budget
The popular adage “If you fail to plan, you plan to fail” comes to play in full force here. There are certain portions of the business that can be winged, but your finances and budget aren’t one of those. Hence it is important that the budget of the business is built catering for the workings of the business(estimated revenue, fixed costs, variable costs, one-time expenses and a profit and loss statement) and they should be adhered to.

4. Overestimating Future Revenue
The tried and true advice to never count your eggs before they hatch is timeless financial wisdom. While it is great to be positive, you should open your mind to changes. We all experienced 2020 and the changes that came along with it, what's important is to be open to adapt when change happens. Optimism is a great trait to have, however it should not clad your critical thinking like an entrepreneur.

(C) NN

.

Tobex4realTobex234:

Congratulations to Ghana. Both companies already have assembly plants in Nigeria sha. Hyundai is already making electric vehicles in Nigeria.

Hopefully, the next Nigerian administration puts in place better policies and infrastructure so that such foreign investments are targeted at establishing new plants in Nigeria and expanding the already existing ones, then exporting to the region, instead of starting afresh in other countries.

Chikebrain:

It's been a while egbon

Chai boss man Sir. It's truly been a while. Trust business is doing just fine.

careerwoman:
Hi
An old follower here. Have been in and out of Tbills for a while.
I recently downloaded Bamboo app to attempt investing in foreign stocks.

Does anyone know how it work and if it’s a reliable venture.

Check out the U.S stocks thread here on Nairaland. It has all the info you need.