₦airaland Forum

asalimpo:
You can't create "wealth" as you define without some serious capital . Dangote was given N500k back in 1978 to begin cement importation business.
He said , as at then, the money could buy 100 mercedes benz cars.
So by todays value,that couldve been worth 500m-1b+.
He had also received mentorship from his relatives (who funded him). His family was already rich, so he didnt need to learn by trial n error.

Bill gate was from a rich family, mum was a board member on ibm, his primary school fees was higher than harvard tuition fees!
Attending a rich, elite school he encountered a computer machine , learnt how to program on it.
Microsoft's big break came when ibm decided to enter the p.c market and needed an o.s (operating system) for their line of machines. Gates supplied th os , made his money, and with that funding grew microsoft.
It is believed that his mum influenced the ibm deal.
Without serious funding, your vision will die on you. Vision , smarts aint enuff.

Freelanswer:
A lot of gr8 info you've given us here. Thank you. I will only differ with you on the sentence I've re-quoted. If you were right in that, then there would never have been a case of a wealthy person from a poor background such as Moshood Abiola; Stev Jobs; Roman Abramovich, John Paul DeJoria and many more. So, please, don't discourage those of us from a humble background.

nogasimplicity:
yes its possible but i think is vice versa because you can still play 100 everyday in a year and still not win 1 kobo thereby losing 365000 in a year if only you stick with #100 per day cause man u might cut one coupon by 1. 45pm and barca or arsenal will be playing by 8pm there is every tendency that you will play again. so bet 9ja is out of this unless you play man u not to win Europa with #100,000 lol (OYO)

Freelanswer:
I was jolted out of my years of day dreams the other day discussing with friends. They were talking enviously about someone who landed a job where he receives N500,000 monthly. Huge, isn't it? But, as soon as I heard them, a question occurred to me and I asked: "In a year, how much will that person receive?" Six million naira! "How poor it is when you compare it with most average entrepreneurs who earn several millions in bulk severally over the course of a year!" I said. I continued: "This is really an eye opener. Even if that person receives 1,000,000NGN/month, that's only 12,000,000 in a year and it's not in bulk, and yet everyone in the family and in town expects so much from him... when a 24-year-old undergraduate made 91,000,000 NGN through MLM in 2015 alone ... I mean in bulk without being bullied around in office politics and all that". My thought process still continued after I left that discussion and so I decided to share it here.

Can earning a salary really make you rich and happy? The example given above is of people receiving some of the most 'handsome' pay packs in town and how many are they even? On the Zero Sickness Nigeria Campaign website, you will find a page entitled "poverty too is a sickness" which shows how easily even uneducated people earn 10,000,000 NGN in bulk in just a year doing almost nothing except that they invested.

From the above you'd think I do not approve of salaried jobs. I even believe you can be rich and very rich with your salary only if you invest it intelligently. The best investment is not always the one that takes you most money. It is the one with the highest ROI. To get this, do a great deal of background checks but just enough to not let analysis paralysis stop you. For example, the example of uneducated people said to be earning 10,000,000 NGN in bulk in just a year talks of an investment of Thirty-six thousand naira (N36,000) only when someone elsewhere is putting in Twenty-two million naira (22,000,000 NGN) in a property he would sell for 30,000,000 in three years.

My point is this: you can become rich with your salary only by investing it well - not by saving it away. And the best investment is not always the flashiest. Oprah Winfrey made her money by investing in "controversial self help ideas" according to Wikipedia.

gidjah:
Sorry i bursted n late o!,in the place where i once worked, my pay was 29k,was able to save and buy a nice piece of land in fct,buy my first car and ...pls i teach,for ur info in a private firm o,but my other mates abi na staff who seemed to have been in d same office for yrs couldnt do than owning nice laptops!,pls ur dilligent and prudently managed pay can improve you lot and keep you on thee steady path of progress o

saxywale:
it depends, a former CEO at one of the places I worked was netting over $7,000,000 per year, and at the current exchange rate, that is circa -N-1.4billion per annum.

SSpeter:
Bros your salary can make you "over wealthy".....i have seen entrepreneurs that make 28m(as in gross) a year and I have also seen some one pay slip of 41m a year....since that day..are they both not wealthy?....if you hear some people salary.....you go get convulsion......the good thing about being a boss is having time for urself and ur family. most business men were once employees....unless those wey govt help...

Freelanswer:
I was jolted out of my years of day dreams the other day discussing with friends. They were talking enviously about someone who landed a job where he receives N500,000 monthly. Huge, isn't it? But, as soon as I heard them, a question occurred to me and I asked: "In a year, how much will that person receive?" Six million naira! "How poor it is when you compare it with most average entrepreneurs who earn several millions in bulk severally over the course of a year!" I said. I continued: "This is really an eye opener. Even if that person receives 1,000,000NGN/month, that's only 12,000,000 in a year and it's not in bulk, and yet everyone in the family and in town expects so much from him... when a 24-year-old undergraduate made 91,000,000 NGN through MLM in 2015 alone ... I mean in bulk without being bullied around in office politics and all that". My thought process still continued after I left that discussion and so I decided to share it here.

Can earning a salary really make you rich and happy? The example given above is of people receiving some of the most 'handsome' pay packs in town and how many are they even? On the Zero Sickness Nigeria Campaign website, you will find a page entitled "poverty too is a sickness" which shows how easily even uneducated people earn 10,000,000 NGN in bulk in just a year doing almost nothing except that they invested.

From the above you'd think I do not approve of salaried jobs. I even believe you can be rich and very rich with your salary only if you invest it intelligently. The best investment is not always the one that takes you most money. It is the one with the highest ROI. To get this, do a great deal of background checks but just enough to not let analysis paralysis stop you. For example, the example of uneducated people said to be earning 10,000,000 NGN in bulk in just a year talks of an investment of Thirty-six thousand naira (N36,000) only when someone elsewhere is putting in Twenty-two million naira (22,000,000 NGN) in a property he would sell for 30,000,000 in three years.

My point is this: you can become rich with your salary only by investing it well - not by saving it away. And the best investment is not always the flashiest. Oprah Winfrey made her money by investing in "controversial self help ideas" according to Wikipedia.

gypsey:
my boss salary is £ 1m a year that's like £100000 a month, me thinks he is wealthy. don't ya all think he is?

Freelanswer:
A lot of gr8 info you've given us here. Thank you. I will only differ with you on the sentence I've re-quoted. If you were right in that, then there would never have been a case of a wealthy person from a poor background such as Moshood Abiola; Stev Jobs; Roman Abramovich, John Paul DeJoria and many more. So, please, don't discourage those of us from a humble background.

iykedare:
Cc tequilah

$7000000 per year

asalimpo:
correction: 91m
oprah, in some circles, is cited as an illuminati front. If so, then her wealth isnt a fair example.
Think of it hard though, a billion dollars aint no piece of cake, she came outta the blue and suddenly rose to that hieght.

asalimpo:
correction: 91m
oprah, in some circles, is cited as an illuminati front. If so, then her wealth isnt a fair example.
Think of it hard though, a billion dollars aint no piece of cake, she came outta the blue and suddenly rose to that hieght.

asalimpo:
Hell yes.
If you have income exceeding your expenses you are rich. That's all that matters.
While N500k may be peanuts to you, for som ppl earning N15k, that's a lotta money.
Some ppl earn N50k and support a family on that , including paying rent. Drivers in some places earn N20-30k. How dyu expect such to react to a N500k salary!
Sombody can live on N1m and save N5m. Do that for 10yrs and you've got N50m. Do that for 30 and you've got N150m.
With the first 50m, he can build a house or two or three. With that alone he's set.
Can you get rich on N500k? It depends on you.
As for the N190m example you cited, they're fluke cases. Outliers.
Not typical.

spirit88:
Thanks so much. I will also differ abit from ur opinion. These guys at one point in their time had some illicit deal whether by law or morally that boosted their base in business. Abiola got his monies through the back door ie shaddy government contracts, inflation of contracts. I even learnt he added some zeros to inflate figures on paper. Anyway every rich/ wealth man today will never tell u the real success story. How they robbed others to make it. I believe in hard work but I'm sure it wasn't hard work that brings riches. Something was done that can't be said openly.

LeksideOLM:
I heard this from a very rich man...

He said" your salary can never make you rich, it can only sustain you.is only what you invest with your salary that will be be left for you"...

You cannot be earning 500k per month nd be living a 50k salary earner lifestyle...
Or will a 500k earner will still be sitting on the street canteen to eat? Or neglect the latest designer in town? Never....

The more you earn or have, the more you spend...

#Myopinion#
The more you

asalimpo:
Hell yes.
If you have income exceeding your expenses you are rich. That's all that matters.
While N500k may be peanuts to you, for som ppl earning N15k, that's a lotta money.
Some ppl earn N50k and support a family on that , including paying rent. Drivers in some places earn N20-30k. How dyu expect such to react to a N500k salary!
Sombody can live on N1m and save N5m. Do that for 10yrs and you've got N50m. Do that for 30 and you've got N150m.
With the first 50m, he can build a house or two or three. With that alone he's set.
Can you get rich on N500k? It depends on you.
As for the N190m example you cited, they're fluke cases. Outliers.
Not typical.

nogasimplicity:
yes its possible but i think is vice versa because you can still play 100 everyday in a year and still not win 1 kobo thereby losing 365000 in a year if only you stick with #100 per day cause man u might cut one coupon by 1. 45pm and barca or arsenal will be playing by 8pm there is every tendency that you will play again. so bet 9ja is out of this unless you play man u not to win Europa with #100,000 lol (OYO)