₦airaland Forum

Hello everyone, I reside in the UK . But I’m thinking of relocating to Nigeria . But I don’t know if I will be able to survive in Nigeria with my investment. My mutual funds pays me 5 million naira every 3 months . Will that be enough to make me live well in Lagos with my wife and 2 kids . Can I also live happily in Nigeria without working and just using my investment funds to carry on with my wife and kids . I’m 36 years old now .

richgang:
Hello everyone, I reside in the UK . But I’m thinking of relocating to Nigeria . But I don’t know if I will be able to survive in Nigeria with my investment. My mutual funds pays me 5 million naira every 3 months . Will that be enough to make me live well in Lagos with my wife and 2 kids . Can I also live happily in Nigeria without working and just using my investment funds to carry on with my wife and kids . I’m 36 years old now .

Depends on where you want to stay and the standard of living you want to imbibe?

richgang:
Hello everyone, I reside in the UK . But I’m thinking of relocating to Nigeria . But I don’t know if I will be able to survive in Nigeria with my investment. My mutual funds pays me 5 million naira every 3 months . Will that be enough to make me live well in Lagos with my wife and 2 kids . Can I also live happily in Nigeria without working and just using my investment funds to carry on with my wife and kids . I’m 36 years old now .

So many factors you will need to consider 1. Do you own a house or you will rent 2. Which part of lagos do you want to stay and the rent payable. Which school would you register your kids and costs
I think 5m every 3months will be adequate.

richgang:
Hello everyone, I reside in the UK . But I’m thinking of relocating to Nigeria . But I don’t know if I will be able to survive in Nigeria with my investment. My mutual funds pays me 5 million naira every 3 months . Will that be enough to make me live well in Lagos with my wife and 2 kids . Can I also live happily in Nigeria without working and just using my investment funds to carry on with my wife and kids . I’m 36 years old now .

How much did you invest and in which mutual fund to be making that much every three months, abi highest no be 20% annual returns again.

keeper303:
So many factors you will need to consider 1. Do you own a house or you will rent 2. Which part of lagos do you want to stay and the rent payable. Which school would you register your kids and costs
I think 5m every 3months will be adequate.

Valid points. If I may add, I think he should also think about how inflation will impact his returns over time. Then there’s also interest rate risk. If he doesn’t own a home yet, securing one before relocating would be wise. The proceeds from his investment can also be used to acquire a scalable business, something that can serve as a backup to his financial assets in the long run. At his age, relying on a single portfolio indefinitely isn’t sustainable. A lucrative business on the side would help hedge against inflation. Just my two cents….

dauntless15:
How much did you invest and in which mutual fund to be making that much every three months, abi highest no be 20% annual returns again.

if he has 100 million stashed, yes he can make 5 million every 3 months

richgang:
Hello everyone, I reside in the UK . But I’m thinking of relocating to Nigeria . But I don’t know if I will be able to survive in Nigeria with my investment. My mutual funds pays me 5 million naira every 3 months . Will that be enough to make me live well in Lagos with my wife and 2 kids . Can I also live happily in Nigeria without working and just using my investment funds to carry on with my wife and kids . I’m 36 years old now .

thats averagely 1.6 million every month. It is marginal of you don't already have a home. But in the other hand, You are still young and I will recommend that even if you hope to live off the interest, it will be best that you find something else that can keep you busy. Moreover have you taken into account issues that may arise that are capital intensive? Like illnesses death in the family etc... But simply put, what you are proposing is doable

Gvstavo:
Kindly educate me on this. If you select to reinvest your interest, that is effective every quarter correct? Which means the interest from January would not be added to your capital until 1st of April? Instead of waiting for 3 months for the interest to be reinvested, would you recommend to opt for monthly payout of the interest every month and then deposit the same back as top up? That way your capital increases every month, so as your gain. I feel like there is an opportunity cost by holding that interest for 3 months before reinvesting it. Please let me know your thought on this.

I understand your logic. Though every kobo counts, I wouldn't do this if the additional interest from the monthly payment is not so significant. But if it is, why not.

richgang:
Hello everyone, I reside in the UK . But I’m thinking of relocating to Nigeria . But I don’t know if I will be able to survive in Nigeria with my investment. My mutual funds pays me 5 million naira every 3 months . Will that be enough to make me live well in Lagos with my wife and 2 kids . Can I also live happily in Nigeria without working and just using my investment funds to carry on with my wife and kids . I’m 36 years old now .

That is about 20million per annum.

It would be more than enough my brother. But rethink ur stay in Lagos. I feel food is expensive in lagos consider Abuja.

dauntless15:
How much did you invest and in which mutual fund to be making that much every three months, abi highest no be 20% annual returns again.

That guy has close to 100million in his acct to be able to attract such an amount every quarter.

The more u invest ,the more u earn or make.

Share more details is this subjectsand who is undertaking it

emmasoft:
Join the winning fund

Invest now in the Norrenberger Dollar fund (NDF). it's currently 10.16% the highest in the industry.


Note that Norrenberger accepts naira if you don't have dollars, but your returns will be in dollars.

They also accept dollar cash deposits.

Get in touch to start investing.

Bigmantravels:
Share more details is this subjectsand who is undertaking it

You can read my earlier posts on this thread about the Norrenberger dollar fund, or you can get in touch with the number on my signature.

By the way, the dollar fund is 10.34% as of today.

Woe to the world in which women are displaced
Happy International Women's Day to the women in the house.

Please does anyone have experience with Stanbic ibtc Guaranteed Investment Fund (SiGif)? Sounds like a safer alternative to the balanced fund with only 10% total allocated to equities and guaranteed return of capital. Can't find much from people who have invested in it.

richgang:
Hello everyone, I reside in the UK . But I’m thinking of relocating to Nigeria . But I don’t know if I will be able to survive in Nigeria with my investment. My mutual funds pays me 5 million naira every 3 months . Will that be enough to make me live well in Lagos with my wife and 2 kids . Can I also live happily in Nigeria without working and just using my investment funds to carry on with my wife and kids . I’m 36 years old now .

N5 million for every 3 months which translates to N1.7m monthly is enough for you and your family to survive in Naija.

As for me I earn 250k and am surviving very well

Uberchic1:
Please does anyone have experience with Stanbic ibtc Guaranteed Investment Fund (SiGif)? Sounds like a safer alternative to the balanced fund with only 10% total allocated to equities and guaranteed return of capital. Can't find much from people who have invested in it.

I have some investment with their money market fund which currently gives 22% yearly returns. Balanced fund is okay but money market fund is safer and lower in risk of loss of investment

Bigmantravels:
Share more details is this subjectsand who is undertaking it

Am interested to invest. How can I go about it. I have naira account

galantjoe:
N5 million for every 3 months which translates to N1.7m monthly is enough for you and your family to survive in Naija.

As for me I earn 250k and am surviving very well

With kids? Which region?

galantjoe:
Am interested to invest. How can I go about it. I have naira account

If you are interested in dollar fund and have naira, Norrenberger can help you get dollar to invest.
Your returns will be in dollars and when you make withdrawal it will also be in dollars.
Call/chat me with the number on my signature.

How true sir ? Chat me up please.

emmasoft:
If you are interested in dollar fund and have naira, Norrenberger can help you get dollar to invest.
Your returns will be in dollars and when you make withdrawal it will also be in dollars.
Call/chat me with the number on my signature.

ozymes:
How true sir ? Chat me up please.

I tried to reach you with the number I have, but it's not going through. You can chat me up see my number on my signature.

Hello all, Please I would like to open a money market mutual funds account but the name on my NIN is different from my bank account name.Would this pose as a problem?

Naturalista:
Hello all, Please I would like to open a money market mutual funds account but the name on my NIN is different from my bank account name.Would this pose as a problem?

@Naturalista, Yes it will pose a problem. You will need to regularize the name on both NIN and bank account because of BVN. The usual practice is that the name on your ID - NIN should correspond with your bank account name with a BVN attached to the same name.

Solution: Go to your bank and change your name to the name you wish to bear going forward, or get a government-issued ID bearing the name you wish to use for your bank account. It's easy, especially if the name change is a result of marriage. Just present the necessary proofs, and it will be done.

I hope this helps. You can reach out if you need more clarity or guide.

Tickles001:
With kids? Which region?

Maiduguri

emmasoft:
@Naturalista, Yes it will pose a problem. You will need to regularize the name on both NIN and bank account because of BVN. The usual practice is that the name on your ID - NIN should correspond with your bank account name with a BVN attached to the same name.

Solution: Go to your bank and change your name to the name you wish to bear going forward, or get a government-issued ID bearing the name you wish to use for your bank account. It's easy, especially if the name change is a result of marriage. Just present the necessary proofs, and it will be done.

I hope this helps. You can reach out if you need more clarity or guide.

Yes it does,thank you.

Hello fellow nairalanders.

I want to invest in Stanbic IBTC Money Market Fund.

Does depositing money in Stanbic IBTC Money Market Fund account with UBA mean one has initiated the investment?

Or do I need to select one of the Funds. Eg, Stanbic IBTC Nigeria Equity Fund, Stanbic IBTC Balanced Fund, etc

Chuksteve:
Hello fellow nairalanders.

I want to invest in Stanbic IBTC Money Market Fund.

Does depositing money in Stanbic IBTC Money Market Fund account with UBA mean one has initiated the investment?

Or do I need to select one of the Funds. Eg, Stanbic IBTC Nigeria Equity Fund, Stanbic IBTC Balanced Fund, etc

no please. You have to make your registration on their website and upload the required documents to them. They will now send you an email with your investment account number and ask you to make a deposit that has the investment account number as the narration. Use the link in my signature to register. And ask any questions you may have here.

Obinnau:
no please. You have to make your registration on their website and upload the required documents to them. They will now send you an email with your investment account number and ask you to make a deposit that has the investment account number as the narration. Use the link in my signature to register. And ask any questions you may have here.

Thank you for your response. I have done all that and my deposit with my e-account as narration is already reflecting on the portal.

I want to know if just depositing means I am already subscribed to the money market fund or I need to use the money to subscribe to one of the funds (from the tab that says select fund).

Chuksteve:
Thank you for your response. I have done all that and my deposit with my e-account as narration is already reflecting on the portal.

I want to know if just depositing means I am already subscribed to the money market fund or I need to use the money to subscribe to one of the funds (from the tab that says select fund).

from what I can see on your screenshot, your 500k is already subscribed to money market fund. The select fund is if you want to invest or have invested in other types of investment under Stanbic and you want to view them 9r purchase more

Obinnau:
from what I can see on your screenshot, your 500k is already subscribed to money market fund. The select fund is if you want to invest or have invested in other types of investment under Stanbic and you want to view them 9r purchase more

Okay. Thank you

Naturalista:
Hello all, Please I would like to open a money market mutual funds account but the name on my NIN is different from my bank account name.Would this pose as a problem?

Apart from money market fund, it is important u try rectify it so that both names tally. Such discrepancy will likely give u issues when u are trying to do any update on your bank account.

Chuksteve:
Hello fellow nairalanders.

I want to invest in Stanbic IBTC Money Market Fund.

Does depositing money in Stanbic IBTC Money Market Fund account with UBA mean one has initiated the investment?

Or do I need to select one of the Funds. Eg, Stanbic IBTC Nigeria Equity Fund, Stanbic IBTC Balanced Fund, etc

Once money is deposited in the product collection account ie, the UBA for the MMF, it means automatic investment; you don't need to do anything else.

However, using the new platform, which is Blunest, if money is deposited into your wallet account, you will still need to login and withdraw the money into your MMF account. So, transferring money into your wallet is not an automatic investment, unlike when it's deposited into the collection account.