I spent the whole of last year working overtime and extra shift only giving most of my earning to family, friends and acquaintances, who always were in one dare need or the other. This was the exact statement an "abroad" veteran told me not long ago. I reflected on his words deeply, and strongly feel there thousands who are sadly also in the same shoes or even bigger shoes. Sadly, if after 20yrs of staying abroad the said dude doesn't amount to anything tangible, these same beneficiaries will be the first to laugh him to scorn.

The preceding paragraph is the exact reason for opening up this thread. It's a guide to saving, investing and navigating the opportunities living outside Nigeria can afford without being burnt in the unending demands. It will be great if someone also experienced can throw light into strategies to getting ahead despite the obvious challenges.

I start by setting my own little foundation

1. Hibernation Mode: What people do when they hit LA first day is to snap larger than life picture of them living the good life, and looking all fresh. Some use photo editing softwares to enhance their handsomeness and beauty, while those staying in shared apartments, go to be cutest spaces to snap social media pieces and motivational stories of a success they have not yet achieved. While this is the emotional thing to do, it's a bad choice. First way to get out of trouble is to go into hibernation.

Do all your Thanksgiving indoors and get to work. Resist the urge of changing your dp, and the lure of turning a motivational speaker. Climbing a long ladder alone is challenging, trying to drag 3 people up the ladder with yourself sets you up on a collision course. The ladder will be free for others to use once you are up there.

Will elaborate on this and many more thoughts in the coming days. Also kindly drop strategies that has worked for you.

We must all be rich

PonziHater

Following bumper to fender CHieffo

Is that all?!

Tinyemeka:
Is that all?!

Thought no one was interested. More coming boss

stanvesco:
Following bumper to fender CHieffo

lols

Get a mortgage so that when you pay there will be only small money left. You cant send money you dont have. One has to be blunt and make himself unreachable. Ordinary pics from company sponsored pics many assumed na my money lol. Begging galore

No 1 is hard for most people, they just can't resist the urge. Never understood the need to impress people who don't give a damn about you.

I don't ever see the need to put up my pictures on WhatsApp or wherever

I hate attentions and unneccessary whining

SKhanmi:
No 1 is hard for most people, they just can't resist the urge. Never understood the need to impress people who don't give a damn about you.

What if they are not trying to impress anyone....changing your regular weekend hike pics is not necessarily you trying to impress anyone! it's your phone your dp, its not their fault someone else is reading meanings into it.

DisGuy:


What if they are not trying to impress anyone....changing your regular weekend hike pics is not necessarily you trying to impress anyone! it's your phone your dp, its not their fault someone else is reading meanings into it.

That's another point of view, but compared to that individual that changes dp's like once in 6 months with minimal social media presence ,someone who keeps you guessing, I'll say they have more chances of escaping unnecessary billing from both knowing/presuming family & acquaintances.

sgtponzihater1:
I spent the whole of last year working overtime and extra shift only giving most of my earning to family, friends and acquaintances, who always were in one dare need or the other. This was the exact statement an "abroad" veteran told me not long ago. I reflected on his words deeply, and strongly feel there thousands who are sadly also in the same shoes or even bigger shoes. Sadly, if after 20yrs of staying abroad the said dude doesn't amount to anything tangible, these same beneficiaries will be the first to laugh him to scorn.

The preceding paragraph is the exact reason for opening up this thread. It's a guide to saving, investing and navigating the opportunities living outside Nigeria can afford without being burnt in the unending demands. It will be great if someone also experienced can throw light into strategies to getting ahead despite the obvious challenges.

I start by setting my own little foundation

Can I av ur attention sir concerning mutual fund

Mymynd4u:



Can I av ur attention sir concerning mutual fund

Yeah. Tell me, what about it?

StrikeBack:
I don't ever see the need to put up my pictures on WhatsApp or wherever

I hate attentions and unneccessary whining

Same here

ednut1:
Get a mortgage so that when you pay there will be only small money left. You cant send money you dont have. One has to be blunt and make himself unreachable. Ordinary pics from company sponsored pics many assumed na my money lol. Begging galore

Great contribution. Thanks boss

DisGuy:


What if they are not trying to impress anyone....changing your regular weekend hike pics is not necessarily you trying to impress anyone! it's your phone your dp, its not their fault someone else is reading meanings into it.

Yeah. Not a crime putting up a DP. However. these are possible suggestions to lead a financially balanced life, with no hard and fast rules.

I needed to get some balance in my life some time back. I went off SM of all sorts, and kept out of circulation. Interestingly 9months later, I had made extreme progress, than earlier wen I kept getting financial requests from family and friends. However some people dont bulge whether those begging cry, or are even supposedly dying, those can be on SM

sgtponzihater1:


Yeah. Tell me, what about it?

I want to invest but I don't know which one to do.. Ibtc, ARM or any one...

My capital is 30k

sgtponzihater1:


Yeah. Not a crime putting up a DP. However. these are possible suggestions to lead a financially balanced life, with no hard and fast rules.

I needed to get some balance in my life some time back. I went off SM of all sorts, and kept out of circulation. Interestingly 9months later, I had made extreme progress, than earlier wen I kept getting financial requests from family and friends. However some people dont bulge whether those begging cry, or are even supposedly dying, those can be on SM

This actually makes sense

Some people do not remember you until you actually post on SM

Congrats on the financial progress!
You mind if I shoot you a DM?

Mymynd4u:


I want to invest but I don't know which one to do.. Ibtc, ARM or any one...

My capital is 30k

Started off with FBN MMF. Studied the market about that time and moved on to Stanbic, and investment 1. I still hold money with FBN and Stanbic, but I prefer stanbic more because of their prompt response and high sense of customer service. I hold on to FBN too because of their track record, and the fact that the FBN holding will probably be around for long too. 4% interest with safety is better than 15% interest with the sense of an impending doom.

During the mutual fund buzz many ran with BGL group, as they were offering spurious interests of about 18-20%, while we stuck with kakawa guaranteed income fund which offered 12%. Compound interest is the rule of the game for those who want to build a financial portfolio using mutual funds, so it's better to play that game with a company that would be available for a while. I remember accompanying a friend to BGL, and their door were shut, and my friend plans to buy a luxury apartment crushed without remedy, the pain in his eye made me always remember that we should build on a solid foundation, rather than a luxurious one that has no depth. While I calculated my targets in the coming decade, his own projection ran into 100s of millions. That is all dashed now.

My posts on mutual funds have spanned nearly a decade, and I sincerely advice that the best time to start would be now, as a decade later many still drag foot. The amount with which you start up doesn't matter, but breaking the procrastination inertia is the starting point.

Finally, dont play only the mutual fund game. Play that and explore other legal investments and business windows too.

Hope this helps!

sgtponzihater1:


Started off with FBN MMF. Studied the market about that time and moved on to Stanbic, and investment 1. I still hold money with FBN and Stanbic, but I prefer stanbic more because of their prompt response and high sense of customer service. I hold on to FBN too because of their track record, and the fact that the FBN holding will probably be around for long too. 4% interest with safety is better than 15% interest with the sense of an impending doom.

During the mutual fund buzz many ran with BGL group, as they were offering spurious interests of about 18-20%, while we stuck with kakawa guaranteed income fund which offered 12%. Compound interest is the rule of the game for those who want to build a financial portfolio using mutual funds, so it's better to play that game with a company that would be available for a while. I remember accompanying a friend to BGL, and their door were shut, and my friend plans to buy a luxury apartment crushed without remedy, the pain in his eye made me always remember that we should build on a solid foundation, rather than a luxurious one that has no depth. While I calculated my targets in the coming decade, his own projection ran into 100s of millions. That is all dashed now.

My posts on mutual funds have spanned nearly a decade, and I sincerely advice that the best time to start would be now, as a decade later many still drag foot. The amount with which you start up doesn't matter, but breaking the procrastination inertia is the starting point.

Finally, dont play only the mutual fund game. Play that and explore other legal investments and business windows too.

Hope this helps!

Yes sir.. Thanks so much but I wud still like to use that stanbic own first


More importantly sir, how is the interest paid?
Is it monthly or weekly?

Mymynd4u:


Yes sir.. Thanks so much but I wud still like to use that stanbic own first


More importantly sir, how is the interest paid?
Is it monthly or weekly?

Stanbic is monthly, but compounded daily

sgtponzihater1:


Stanbic is monthly, but compounded daily

Okay sir.. I will try enter stanbic tmao and collect the form.. What and what do I need to take along with me for opening a mutual fund account as I don't even av any acct with stanbic

Mymynd4u:


Okay sir.. I will try enter stanbic tmao and collect the form.. What and what do I need to take along with me for opening a mutual fund account as I don't even av any acct with stanbic

ID, utility Bill's etc. You can also open a stanbic account, but it's not essential.