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?

Graxie:
Let me know the type first.

phorget:


Any hustle nah hustle o. If u wan hustle make u talk.

afroxyz:


How long would it take for him to recoup his investment. That is the point.

Graxie:
Haaa,huzzle get level, I want know if na huzzle wey make sense.

Graxie:
Let me know the type first.

Xisnin:
Super story.

MisterKings:
Build that house, worse case scenario you can sell it off.
If that money stays in your hand too long, get ready for it to fly away one way or the other.
Or you invest it into treasury bills which can pay you about 10% every 3 months or so. That is about 1 million naira every quarter or about 300k monthly.

Your money still remains intact.

That's the last information I received regarding treasury bills unless they have changed.

foodonly:
How come did he get 11.4million as a young hustlers. This not true or genuine because if it, he would have know what to do it with it.

Poorboy:
lol send op pm na

phorget:


Hustle wey give person 11.4m that one make sense nah.

Graxie:
No,its better he says it here. I sure say many people dey wey want know.

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?

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?

Poorboy:
That kind thing wey give the money them no dey talk for public...... I doubt if he can say it here...... Lol

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?

Graxie:
hahaha, that means comma dey.

Poorboy:
I no no oooo

covid2019:


Tbills are very low now. I used to do it. At a point it was 18% . That's around dec 2017. It's less than 4% now.

jmoore:
Your proceeds from 'hustle'? Which type of hustle?

nextstep:
11 million at 29? You've done really well.

I would suggest you build a small house now... I usually advocate people put their savings in treasuries, but in the current situation, it's best to have a place you call home, and never have to work to pay rent again (even though you said you're squatting)

Hedging against the Naira makes sense, but consider that most of the things you will buy for your house will be dollar-denominated. Yes, you pay Naira for iron, doors, and paint, but all those items are either fully imported or have 80%+ imported raw materials.

Inflation is real, and even if the value of your dom account stays the same in dollar terms, the materials will be 14%+ more expensive after a year (and would have doubled in 5 years, per rule of 72).

Graxie:
It is well oh!!!

dukeprince50:
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

afecgivers:


All these for me! Because I'm giving advice to someone with N11m and does not know what to do with it. Since my humor is termed irredeemably stupid...i think it is better he sow the money in redeem church. Thanks for your compliment na COVID 19 curse you.

DCmonster:
I lived in around akodu street in mushin, Lagos then. I often did my shopping at mushin market. Like I said, it depends on your priorities/goals.

Kosoco:
You have 11.4 m and you are squatting with me I will kick your ass out. Except we are in the same G Work... You have 11m and your are Squatting bro I don’t believe you. Come plain pls... Maybe you just pick... but remember d picker and the picky one day Egugun go enter express. If it’s legit it will multiply.