I am in a dilemma worsened by this covid19.

I am a graduate male of 29 residing in the East. I still squat with a friend, not because I don't have money for house rent. But principally because I have been unable to figure out what I want to do with my life, hence renting a house feels like a commitment that might get me stuck.

I always feel I might move anytime soon-- to either another state or abroad for masters or just practice of my profession. Note that I didn't study a STEM course.

All these while squatting, I have been saving via my proceeds from hustles.

In the wake of this COVID19, I checked all my banks and found out that money I have in my account has lost so much value given the dollar rate.

I have 11.4 million, inclusive of my working capital, plus a rickety car valued at 350k. Each time, I need just 3-5m as working capital.

It seems that trying to save more is false economy and might be counter productive.

NOW, I AM CONSIDERING buying a plot of land and erecting a small house even if it's 3 rooms. This, I think will serve as investment that will keep appreciating and also serve as residence.

Or just open a domiciliary account to hedge against naira fall and continue saving.
What do you think please?

Build you would be glad you did 5 years from now.
Use about 6-7 Million to build, invest half of the rest.
You would have change to invest in a business
11 Million is a lot of money

Follow me on Twitter : www.twitter.com/NaijaSteveJobs

Please stick to that plot of land of a thing you will never regret it.
My opinion though

covid2019:
I am in a dilemma worsened by this covid19.

I am a graduate male of 29 residing in the East. I still squat with a friend, not because I don't have money for house rent. But principally because I have been unable to figure out what I want to do with my life, hence renting a house feels like a commitment that might get me stuck
I always feel I might move anytime soon-- to either another state or abroad for masters or just practice of my profession. Note that I didn't study a STEM course.

All these while squatting, I have been saving via my proceeds from hustles.

In the wake of this COVID19, I checked all my banks and found out that money I have in my account has lost so much value given the dollar rate.
I have 11.4 million, inclusive of my working capital, plus a rickety car valued at 350k. Each time, I need just 3-5m as working capital.

It seems that trying to save more is false economy and might be counter productive.

NOW, I AM CONSIDERING buying a plot of land and erecting a small house even if it's 3 rooms. This, I think will serve as investment that will keep appreciating and also serve as residence.

Or just open a domiciliary account to hedge against naira fall and continue saving.
What do you think please?

build rooms you can let out on the land if it is a commercial or semi commercial area.
You can build some room self contain and put it out for rent.
Money to travel out will still surfice in your estimated money

If the house u want to build is ur own residential house, I'll advice u to invest that money into different businesses, u can multiply that money by 5 in the next ten years, but if u want to give it out for rent, I'll say u should build it. Ur first priority should be more money. The house, if not for rent will depreciate but land does not.
Also if u haven't figured out what to do with ur life, I'll say u hold that money till u find urself. Don't just run and invest wen u have no idea what to invest on. U can loose everything.Best thing u can do with ur money is to use it and make more money, but do it wisely
Modified.
To those quoting me that house doesn't depreciate, what do u say about the brick houses 20-30years ago or the mud and thatch house during our great grandma's time? Brick house was a hot cake in the 90's, also in late 90's if u have a block house, u are rich, 20years from now Architecture will bring up a new design and glass houses will be as worthy as what block house is today. Be here thinking houses don't depreciate.

Build is the best way to save your money, it will always appreciate.

Build, it's better

I will advise you to develop your site.....
Am an architect sir...
I have good n beautiful 3bedroom design....
Full 2d working drawing n presentation drawing......
08168400751

Invest in landed property.


Lowkey money dey some people hand o. Patiently waiting for when I will make my first million too.

I think you should buy lands. I mean many land in an area with a purposeful future *dunno if that is correct *

You will not regret it.

My People and free stuffs.. People pay for this kind of advice you know? ... how do u think financial planners will survive if u cut corners like this....

Richy4:
My People and free stuffs.. People pay for this kind of advice you know? ... how do u think financial planners will survive if u cut corners like this....

There are free legal, medical, financial advice online on all walks of life and it hasn't made the professionals poor.

There are fee English languagelessons online, English teachers have not become poor.

So bin your idiotic counsel as it's not needed. Not in the least.

1millionBoys:


There are free legal, medical, financial advice online on all walks of life and it hasn't made the professionals poor.

There are fee English languagelessons online, English teachers have not become poor.

So bin your idiotic counsel as it's not needed. Not in the least.

So basically u opened two accounts today.. this particular account for insult and the other account to ask questions right?
Well my apologies.. have a good day

Richy4:


So basically u opened two accounts today.. this particular account for insult and the other account to ask questions right?
Well my apologies.. have a good day

Which 2 accounts?

Answer the question with ratiocination. No beating about the bush. Why evade my rejoinder with account ish? mtchew.

I will advice u by a land 1st and if its in a commercially viable area you can build like 1room self contains n 2 bedroom flats for rent You will not regret it.Its better than just keeping money in a bank at the long run.

Build and rent it out while u continue your hustle

I don't know who you are, but my sincere advice to you is to keep on saving.

With time the vision will be clearer

ffhjj

Build

Invest in business instead.

Come to my covid19 seminar, I would teach you how to make face mask, hand sanitizers and ventilators.
Table for 10 = 5 million naira.

Build Now
It will appreciate over time


Inflation might eat up your savings


Check my siggy

keep saving and japa when you've saved enough.

Build a house use the rest for business

Keep saving....food first.

Build a hostel in a student environment n cash out for life...

Well..... I wish to have friends that will allow me to squat with them and be making this kind of savings to be contemplating about building a house....



God give me these type of friends mbok!!

Super story.

Invest in the building.