₦airaland Forum

Akerewe:
of course I deal with stanbic stockbroking unit. I called them nd mail them throughout the transaction nd I was told to fund my stockbroking account which I did, then it was carried out. All was seamless via call nd mail. Or is there any other way of buying tru d bank that would make it cheaper? ?

Buying through the bank is cheaper, the bank buys on FMDQ while your Stockbroker buys on NSE.

When someone goes to the bank to buy, the bank refers the person to their stockbroking unit, I guess you mean the standalone stock broking units are more expensive than traditional bank stockbroking unit.

emmanuelewumi:
Buying through the bank is cheaper, the bank buys on FMDQ while your Stockbroker buys on NSE.

PresidentBuhari:
When someone goes to the bank to buy, the bank refers the person to their stockbroking unit, I guess you mean the standalone stock broking units are more expensive than traditional bank stockbroking unit.

I buy through the bank, I don't have a Stockbroking account with Stanbic IBTC Stockbrokers.

Morning house, has anyone here invested in FGN savings bond before? If yes how long does it take before allocation notice is given to investors please..?

emmanuelewumi:
I buy through the bank, I don't have a Stockbroking account with Stanbic IBTC Stockbrokers.

Please Sir, will there be NTB primary auction this week Wednesday?

i think u can only buy tru the bank physical nd not tru mail. pls we need to understand all these procedures once and for all. do u always fill form whenever u r buying ur bond? because i was ask to fill the form and i refuse then i was told to fund my stockbroking account then it was done tru it. during the last sukuk, i was mandated to open a cscs account and stockbroking account from stanbic.

PresidentBuhari:
When someone goes to the bank to buy, the bank refers the person to their stockbroking unit, I guess you mean the standalone stock broking units are more expensive than traditional bank stockbroking unit.

ok i can understand this. we need more tutorial Oga!

emmanuelewumi:
Buy through the bank, you will then fill a form that CSCS should be the custodian of the investment, it cheaper buying through the bank

Hello house, Is treasury bill auction coming up this week?

PresidentBuhari:
When someone goes to the bank to buy, the bank refers the person to their stockbroking unit, I guess you mean the standalone stock broking units are more expensive than traditional bank stockbroking unit.

of course yes, they will direct u to their stockbroking unit for follow up.

Akerewe:
i think u can only buy tru the bank physical nd not tru mail. pls we need to understand all these procedures once and for all. do u always fill form whenever u r buying ur bond? because i was ask to fill the form and i refuse then i was told to fund my stockbroking account then it was done tru it. during the last sukuk, i was mandated to open a cscs account and stockbroking account from stanbic.

It is done through mail or physical presence at the bank

Akerewe:
of course yes, they will direct u to their stockbroking unit for follow up.

Stanbic IBTC Bank buys for you on FMDQ, Stanbic IBTC Stockbrokers will buy on NSE.

We have more transactions on FMDQ than NSE

Nakedman:
Hello house, Is treasury bill auction coming up this week?

yes ofcourse

emmanuelewumi:
Stanbic IBTC Bank buys for you on FMDQ, Stanbic IBTC Stockbrokers will buy on NSE.

We have more transactions on FMDQ than NSE

do u still need to fill form to buy from stanbic bank? May b after filling it then scan it to them. No time for physical transaction. Because I was sent form but later I waa ask to ignore d form nd fund my cscs account.

Akerewe:
do u still need to fill form to buy from stanbic bank? May b after filling it then scan it to them. No time for physical transaction. Because I was sent form but later I waa ask to ignore d form nd fund my cscs account.

You send a mail, the team that handles it is at the head office


Any of these officers will help you

emmanuelewumi:
You send a mail, the team that handles it is at the head office


Any of these officers will help you

noted Oga, u r highly resourceful. God Bless U

juniorrate:
yes ofcourse

Thanks.

emmanuelewumi:
You send a mail, the team that handles it is at the head office


Any of these officers will help you

God bless you sir

For those that want to invest in USD but do not have the appetite or time to follow NYSE, I just saw this ad on Nairametrics. If possible, try to negotiate the rate.

Personal finance experts believe you are financially independent if you have the following

1. An emergency reserve that is equivalent to your expenses for a minimum of 6 months

2. A networth that is 30 times of your annual expenses or an annual passive income that is twice your annual expenses.


Do you agree with this?

emmanuelewumi:
Personal finance experts believe you are financially independent if you have the following

1. An emergency reserve that is equivalent to your expenses for a minimum of 6 months

2. A networth that is 30 times of your annual expenses or an annual passive income that is twice your annual expenses.


Do you agree with this?

I'm assuming this is AND not OR. Because if it's OR, I disagree with 1.

Tobex4realTobex234:
I'm assuming this is AND not OR. Because if it's OR, I disagree with 1.

It is or, not and.

What is the basis of the disagreement?


Better if you can combine both.

I prefer passive income being twice of expenses sha

Tobex4realTobex234:
For those that want to invest in USD but do not have the appetite or time to follow NYSE, I just saw this ad on Nairametrics. If possible, try to negotiate the rate.

Not bad but still lower than what all these Dollar Funds are offering....

Agree on the whole with the combination of both statements. However I am not bothered about networth as long as I have 2 years expenses as an emergency fund and a passive income that is three times my annual expenses. That will do me just fine

emmanuelewumi:
Personal finance experts believe you are financially independent if you have the following

1. An emergency reserve that is equivalent to your expenses for a minimum of 6 months

2. A networth that is 30 times of your annual expenses or an annual passive income that is twice your annual expenses.


Do you agree with this?

skydiver01:
Agree on the whole with the combination of both statements. However I am not bothered about networth as long as I have 2 years expenses as an emergency fund and a passive income that is three times my annual expenses. That will do me just fine

That is why number 2 is or, not and.


What are the sources of these passive incomes?

I am sure your annual expenses is 50% or less of your annual income.

Emergency reserve is part of the networth

Emmanuelewumi, lazyyouth4u... The fintech investment brokers and fund management houses are getting Almighty sec approval and license... Their rates are far better than our treasury bill... What do you think@emmanuel? And other top financial analyst?

True my current annual expenses are less than half of my passive income. I still aim to have three times my annual expenses because it allows one to compound some of the passive income to enable it grow over time.

Re sources of current passive income are equity dividends, FGN bonds and three rental flats.

Yes you are right that the emergency reserve can technically count as part of networth. But in my mind I expect to spend it when the need arises or when the time comes. So I personally do not count it as networth (I am quite certain I will spend it e.g. I could wake up one day and say I am off to the Caribbean or Hawaii for 6 months holiday - that's my idea of a lovely EMERGENCY). Networth is not a concept I pay attention to because it can fluctuate widely over time particularly if much of your networth is held in equities. I imagine if majority of ones assets were held in real estate one could mentally keep a note of their networth which isn't the case with me. I do not have majority of my assets in real estate just a bit excluding my home of course.

emmanuelewumi:
That is why number 2 is or, not and.


What are the sources of these passive incomes?

I am sure your annual expenses is 50% or less of your annual income.

Emergency reserve is part of the networth

omotola90:
Emmanuelewumi, lazyyouth4u... The fintech investment brokers and fund management houses are getting Almighty sec approval and license... Their rates are far better than our treasury bill... What do you think@emmanuel? And other top financial analyst?

SEC approval is broad.

SEC approval is different from SEC approval of a fund

Each fund managed by a fund manager must be approved by SEC.

Each fund must have a custodian, trustee, fund manager, registrar, accountant etc.

Each fund equally need a fact sheet that is available to the public and an audited financial account

emmanuelewumi:
SEC approval is broad.

SEC approval is different from SEC approval of a fund

Each fund managed by a fund manager must be approved by SEC.

Each fund must have a custodian, trustee, fund manager, registrar, accountant etc.

Each fund equally need a fact sheet that is available to the public and an audited financial account

What oga Emma just posted is a summary of background check you need to do on any fund you wish to invest in before you even check the rate. Any fund no matter who manages it or floats it even a SEC approved firm if it doesn't have all the listed criteria it's still not safe. If you invest in it and anything goes wrong you are own your own. This is from experience.
All mutual fund investors take note.

skydiver01:
True my current annual expenses are less than half of my passive income. I still aim to have three times my annual expenses because it allows one to compound some of the passive income to enable it grow over time.

Re sources of current passive income are equity dividends, FGN bonds and three rental flats.

Yes you are right that the emergency reserve can technically count as part of networth. But in my mind I expect to spend it when the need arises or when the time comes. So I personally do not count it as networth (I am quite certain I will spend it e.g. I could wake up one day and say I am off to the Caribbean or Hawaii for 6 months holiday - that's my idea of a lovely EMERGENCY). Networth is not a concept I pay attention to because it can fluctuate widely over time particularly if much of your networth is held in equities. I imagine if majority of ones assets were held in real estate one could mentally keep a note of their networth which isn't the case with me. I do not have majority of my assets in real estate just a bit excluding my home of course.

Your networth is the total value of everything you own eg house, savings, retirement savings account, bonds, mutual funds, cars, collectibles, business, shares, real estate, life insurance etc minus your liabilities eg student loans, pre payment received, car loan, mortgage loan etc.

Another reason I don't pay attention to or focus on networth (total assets less total liabilities) is that in most instances networth is not readily available as cash. I prefer to focus on liquidity most of the time. Networth I think is on the whole a matter for my Will or Trust. Networth really plays no part in my everyday life. Networth I find is useful when people are trying to raise debt for whatever reason. I have spent a good part of my life time paying down debt so I do not envisage raising any debt going forward.

Btw I am not disagreeing with your initial statements. I am simply stating that it is not something I focus on or even think about. It will all (networth) simply be listed in a Trust and Will.

emmanuelewumi:
Your networth is the total value of everything you own eg house, savings, retirement savings account, bonds, mutual funds, cars, collectibles, business, shares, real estate, life insurance etc minus your liabilities eg student loans, pre payment received, car loan, mortgage loan etc.

skydiver01:
Another reason I don't pay attention to or focus networth (total assets less total liabilities) is that in most instances networth is not readily available as cash. I prefer to focus on liquidity most of the time. Networth I think is on the whole a matter for my Will or Trust. Networth really plays no part in my everyday life. Networth I find is useful when people are trying to raise debt for whatever reason. I have spent a good part of my life time paying down debt so I do not envisage raising any debt going forward.

Btw I am not disagreeing with your initial statements. I am simply stating that it is not something I focus on or even think about. It will all (networth) simply be listed in a Trust and Will.

Then the liquid assets should be equivalent to your annual expenses for more 30 years to give room for inflation

Correct.

emmanuelewumi:
Then the liquid assets should be equivalent to your annual expenses for more 30 years to give room for inflation