Sholapey:
MMF.

Thank You maam

I knew it had to be a big city like Lagos. My point in my earlier post is that in many towns or villages (note I did not say cities) other states, the low cost and communal living will make it almost impossible to be homeless. The quality of the home may be low, it could be a face me I face you, hut but it is rare. In short, that is why you still find people who stay in their family house with extended families, that can hardly ever happen in a place like Lagos.
If we continue to use Lagos to judge the nation, we will keep having a distorted data.

OgogoroFreak:
Lagos. Ajegunle precisely. I don't know if he's an indigene or not. I don't even know his tribe.

OgogoroFreak:
Even if accommodation is 1k a month, there still people who can't save that in a month. Also you will not take 1k to a landlord and expect him to tell you to move in.

I rented a very cheap accommodation for an homeless dude 2k a month. But the total money I paid was 65k. That's for 2 years rent plus agent and agreement fee. 2k a month looks very cheap but there are people who have never counted 65k in their life before let alone owning it.

People are homeless for several reasons. Some are homeless cos they lack sense or are not normal. Some are homeless cos they are addicted to drugs. They prefer to spend all their money on hard drugs. Many other cases like that.

If many workers were given the option not to solve that money, they would have also "wacked" it and forget there is such a time as old age.

emmanuelewumi:



Without annuity 98% of employees will be very broke, as a matter of fact 80% of the Networth of most employee is in their compulsory Retirement Savings Account. If not for the compulsory deduction of 7.5% to 10% and the counterpart funding of additional 7.5% to 10% by the employer 98% of workers won't have any savings or Investments

anjilgreat:


Good morning sir, this your post just reminded me of an investment I made in 2007 with AIMS Asset Portfolio Management as a Youth Corper.

My aim was to invest the money for ten years, but since the ten years elapsed 3 years ago, I'm yet to get any useful information abt the company. Even the numbers on the company's receipt given to me are not going through and no useful information online. Pls, do you have any idea of this company?

Pls anybody here with any useful information abt AIMS Asset Portfolio Management can share with me. Thanks in anticipation.

I saved a lot of people from committing funds to them in 2006, when I found out that they were not licensed by SEC to manage funds and the products marketed were not registered by the regulatory body.


Sorry about your loss, in no distant future we should expect a repeat of this. Especially from people who wanted easy money, without asking the right questions and carrying out their due diligence

abraolas1:


Thank You maam

You're most welcome sir.

olujaidi:


The firms would have had to evolve or die. If they recognise that you're savvy, they treat you differently. If the masses were enlightened enough the playing field would be far less uneven

it will lead to the collapse of everthing including our investments.....

emmanuelewumi:




I saved a lot of people from committing funds to them in 2006, when I found out that they were not licensed by SEC to manage funds and the products marketed were not registered by the regulatory body.


Sorry about your loss, in no distant future we should expect a repeat of this. Especially from people who wanted easy money, without asking the right questions and carrying out their due diligence

Wow!, you mean they have folded up? Based on the information shared with us then, they invested most of my fund in access bank shares.

The funniest thing is that I also diverted some of my savings then into some stocks which I still have till date, if only I invested all my funds by myself then. Thank you sir for the information.

ahiboilandgas:
it will lead to the collapse of everthing including our investments.....

Nope. Evolution doesn't mean destruction. It just means that they're going to have to adapt to the differences in the needs and varying knowledge of customers.

anjilgreat:


Good morning sir, this your post just reminded me of an investment I made in 2007 with AIMS Asset Portfolio Management as a Youth Corper.

My aim was to invest the money for ten years, but since the ten years elapsed 3 years ago, I'm yet to get any useful information abt the company. Even the numbers on the company's receipt given to me are not going through and no useful information online. Pls, do you have any idea of this company?

Pls anybody here with any useful information abt AIMS Asset Portfolio Management can share with me. Thanks in anticipation.

@anjilgreat just forget about that investment and those guys. Count it as one of your costly mistakes and move on. Don't stop investing. Now that you are better informed I guess, always think Safety of your funds first before any promised returns or gains. Yes investment involves risk but never take the risk of investing with an investment house that is not SEC regulated to avoid the story that touch.

anjilgreat:


Wow!, you mean they have folded up? Based on the information shared with us then, they invested most of my fund in access bank shares.

The funniest thing is that I also diverted some of my savings then into some stocks which I still have till date, if only I invested all my funds by myself then. Thank you sir for the information.

They had a very good marketing team operating all over Lagos and some parts of the country.

I saved my account officer at UBA from committing 500k lump sum investment to them in 2006

olujaidi:


Nope. Evolution doesn't mean destruction. It just means that they're going to have to adapt to the differences in the needs and varying knowledge of customers.

It is impossible for 20% of the employees to be financially intelligent.

But a worker who is financially intelligent should be allowed to invest his Retirement Savings Account by himself. This can be determined if the employee accumulated a sum or built an investment that is equivalent to or higher than the sum in his Retirement Savings Account.

If at retirement you have N20 million in your Retirement Savings Account, but you have built a personal investment portfolio of N25 million by yourself apart from the Retirement Savings .

It is better to allow such an employee to manage his total Retirement Savings if he wishes

emmanuelewumi:



Pick what is useful to you and discard the rest. And if non is useful, so be it.

The key word is save, invest, buy capital appreciating and income generating assets, be diversified across different assets and Investments.

It is left to you to plan for a year, 10 years, 20 years and above because of our children and retirement

Good afternoon Sir, would you recommend the FGN sukuk for a a new bee just staring out in the investment and bonds stuff?.I saw the offer for subscription yesterday and I want to ask if an individual with no experience in it can invest.

emmanuelewumi:



It is impossible for 20% of the employees to be financially intelligent.

But a worker who is financially intelligent should be allowed to invest his Retirement Savings Account by himself. This can be determined if the employee accumulated a sum or built an investment that is equivalent to or higher than the sum in his Retirement Savings Account.

If at retirement you have N20 million in your Retirement Savings Account, but you have built a personal investment portfolio of N25 million by yourself apart from the Retirement Savings .

It is better to allow such an employee to manage his total Retirement Savings if he wishes

But the average worker with N20 millon in his Retirement Savings Account, will hardly have N5 million in an income generating asset or Investment


So the idea of an annuity for such people is not bad

emmasoft:


@anjilgreat just forget about that investment and those guys. Count it as one of your costly mistakes and move on. Don't stop investing. Now that you are better informed I guess, always think Safety of your funds first before any promised returns or gains. Yes investment involves risk but never take the risk of investing with an investment house that is not SEC regulated to avoid the story that touch.

Thanks you very much. I was investing in the stock market before then and I wanted to diversify in something like a Mutual fund and thought that it would be an alternative because a financial mentor advised me to. It is well!

blithe:


Good afternoon Sir, would you recommend the FGN sukuk for a a new bee just staring out in the investment and bonds stuff?.I saw the offer for subscription yesterday and I want to ask if an individual with no experience in it can invest.

Not bad, you can invest as little as 10k.

ahiboilandgas:
if everbody become too financially intelligent then what happen to the insurance firm that sell annuity,bank deposit etc and their workers ...the system need more of this set of people for job growths and stability....the money in my retirement saving accounts they pain me ..the return is poor i know i will do a better investment more that this firms

Same here. Wish the law can be amended to allow individuals drawdown at their own risk. I doubt if the law is ths rigid globally

9jatriot:
I knew it had to be a big city like Lagos. My point in my earlier post is that in many towns or villages (note I did not say cities) other states, the low cost and communal living will make it almost impossible to be homeless. The quality of the home may be low, it could be a face me I face you, hut but it is rare. In short, that is why you still find people who stay in their family house with extended families, that can hardly ever happen in a place like Lagos.
If we continue to use Lagos to judge the nation, we will keep having a distorted data.

For sure even in Lagos they might have a family place to stay but some were chased out to hustle for themselves because of their age. Some are just too lazy that if you leave them in the house they just relax as long as they are feeding under you. This can happen in any state just that, if it happens in most other states that are not Lagos, alot of them move to lagos to hustle. Then become homeless for some time.

As advised by one of my oga here... get addicted to this thread and learn more... honestly, its paying... i am applying some of the ideas, knowledge & experience shared here to my business although i am still understudying the numerous investment opportunities that are being discussed here... one day, very soon, i will join the wagon as i have only done bank fixed deposit in the past... i appreciate all contributors here... more Grace guys

On the other news, wifey rarely visit Nairaland however i have been discussing some of the info i get here with her... long story short we had a lil quarrel last night about the "biz biz Investment investment" hunger... told her its for our good and future, you know...
She said, don't i know properly raising kids are more important? infact they are the greatest investment and assets one can ever think of...

the other day, i told her about the must read financial books that was shared here and i am already planning to get all the books... i slept yesterday within having my dinner...

I know, raising (financial, smart etc) kids can sometimes be challenging/diffcult... please can the expirenced here, share some tips, ideas etc... recommend child raising books as well if you know of any...
We have just one beautiful daughter, shes 10 months plus, we got married barely 2years ago

Olujaidi, Ahib, Emma, Ma Sholapey & other bosses make una choke mouth...
Sorry for digressing a little

emmanuelewumi:



Not bad, you can invest as little as 10k.

Thank You Sir, was even thinking I should invest more than that, but lack of information from experienced people is making me have doubts

blithe:
Thank You Sir, was even thinking I should invest more than that, but lack of information from experienced people is making me have doubts

Do you have a Stockbroking account? So that it will reflect in your CSCS statement of account

emmanuelewumi:



They had a very good marketing team operating all over Lagos and some parts of the country.

I saved my account officer at UBA from committing 500k lump sum investment to them in 2006

You are right, really good marketing team that came from Lagos to our corpers lodge to encourage us to invest and one of my mentors even told me to invest then.

My only relief is that I didn't invest all the money I had then into their investment, I diverted some money into the stock market because of my Dad who wanted to buy some shares for me and I gave him the extra money I had saved to get some more.

I honestly thought I was diversifying my investment then by investing in a SEC regulated fund. Lesson learnt, It is well!

oluwaleokey:
As advised by one of my oga here... get addicted to this thread and learn more... honestly, its paying... i am applying some of the ideas, knowledge & experience shared here to my business although i am still understudying the numerous investment opportunities that are being discussed here... one day, very soon, i will join the wagon as i have only done bank fixed deposit in the past... i appreciate all contributors here... more Grace guys

On the other news, wifey rarely visit Nairaland however i have been discussing some of the info i get here with her... long story short we had a lil quarrel last night about the "biz biz Investment investment" hunger... told her its for our good and future, you know...
She said, don't i know properly raising kids are more important? infact they are the greatest investment and assets one can ever think of...

the other day, i told her about the must read financial books that was shared here and i am already planning to get all the books... i slept yesterday within having my dinner...

I know, raising (financial, smart etc) kids can sometimes be challenging/diffcult... please can the expirenced here, share some tips, ideas etc... recommend child raising books as well if you know of any...
We have just one beautiful daughter, shes 10 months plus, we got married barely 2years ago

Olujaidi, Ahib, Emma, Ma Sholapey & other bosses make una choke mouth...
Sorry for digressing a little

If you have a business that you run,carry the child there.
With time,he or she may pick interest and begin to learn at a very fast rate.
You don't learn business by reading books.That is the biggest fallacy I've ever seen.
Most times it is by intuition and/or practice.
To be a successful investor sef isn't learnt in books,you learn from mistakes by actually doing stuff and perfect your skills over time.
If you doubt me,buy your kid books let him read and see if he doesn't end up lecturing the business whatever las las..

oluwaleokey:
As advised by one of my oga here... get addicted to this thread and learn more... honestly, its paying... i am applying some of the ideas, knowledge & experience shared here to my business although i am still understudying the numerous investment opportunities that are being discussed here... one day, very soon, i will join the wagon as i have only done bank fixed deposit in the past... i appreciate all contributors here... more Grace guys

On the other news, wifey rarely visit Nairaland however i have been discussing some of the info i get here with her... long story short we had a lil quarrel last night about the "biz biz Investment investment" hunger... told her its for our good and future, you know...
She said, don't i know properly raising kids are more important? infact they are the greatest investment and assets one can ever think of...

the other day, i told her about the must read financial books that was shared here and i am already planning to get all the books... i slept yesterday within having my dinner...

I know, raising (financial, smart etc) kids can sometimes be challenging/diffcult... please can the expirenced here, share some tips, ideas etc... recommend child raising books as well if you know of any...
We have just one beautiful daughter, shes 10 months plus, we got married barely 2years ago

Olujaidi, Ahib, Emma, Ma Sholapey & other bosses make una choke mouth...
Sorry for digressing a little

Get a budget, operate within the budget try and save 5% of your income every month for a start, cut off unnecessary expenses then increase it to 10% and more Get a side hustle which can generate more income.


Education of our children is a right that can't be negotiated, giving them a headstart through good investment is very important in Nigeria.

The average person will think of only education, don't join the group of the average Nigerian.

emmanuelewumi:



Do you have a Stockbroking account? So that it will reflect in your CSCS statement of account

No I don't Sir,I don't even know what it means.I will probably go to a bank and ask them how this thing works.This is a new terrain for me and I don't know Jack about investing, I'm just starting out and that sukuk seems "Ok" for a JJC but if you can recommend some other types of investment for a Nigerian youth Sir,I will sincerely appreciate.

9jatriot:
Whats the minimum for this? How and where to access it?

10k

blithe:
No I don't Sir,I don't even know what it means.I will probably go to a bank and ask them how this thing works.This is a new terrain for me and I don't know Jack about investing, I'm just starting out and that sukuk seems "Ok" for a JJC but if you can recommend some other types of investment for a Nigerian youth Sir,I will sincerely appreciate.

A bank might not be able to answer your question.

oluwaleokey:
As advised by one of my oga here... get addicted to this thread and learn more... honestly, its paying... i am applying some of the ideas, knowledge & experience shared here to my business although i am still understudying the numerous investment opportunities that are being discussed here... one day, very soon, i will join the wagon as i have only done bank fixed deposit in the past... i appreciate all contributors here... more Grace guys

On the other news, wifey rarely visit Nairaland however i have been discussing some of the info i get here with her... long story short we had a lil quarrel last night about the "biz biz Investment investment" hunger... told her its for our good and future, you know...
She said, don't i know properly raising kids are more important? infact they are the greatest investment and assets one can ever think of...

the other day, i told her about the must read financial books that was shared here and i am already planning to get all the books... i slept yesterday within having my dinner...

I know, raising (financial, smart etc) kids can sometimes be challenging/diffcult... please can the expirenced here, share some tips, ideas etc... recommend child raising books as well if you know of any...
We have just one beautiful daughter, shes 10 months plus, we got married barely 2years ago

Olujaidi, Ahib, Emma, Ma Sholapey & other bosses make una choke mouth...
Sorry for digressing a little

I don't have kids but I know they imitate your behaviour, imbibe your beliefs and your consistent statements. So, I'd say you should invest in yourself and improve your actions. Make yourself more knowledgeable; watch what you say; let your actions be consistent with what you preach. Explain things on the news to them as well as the implications. I don't know if it's possible to teach delayed gratification though. Make sure your missus is on board.

As they grow older, get them piggybank/Kolo and make sure they put the money in themselves. Make them personally responsible and frequently check on them to make sure they're accountable. Teach them your own skills eg negotiation

Theconglomerate:
If you have a business that you run,carry the child there.
With time,he or she may pick interest and begin to learn at a very fast rate.
You don't learn business by reading books.That is the biggest fallacy I've ever seen.
Most times it is by intuition and/or practice.
To be a successful investor sef isn't learnt in books,you learn from mistakes by actually doing stuff and perfect your skills over time.
If you doubt me,buy your kid books let him read and see if he doesn't end up lecturing the business whatever las las..

Thanks bro
You nuture one first, before you carry them to the business like you said lol
I mean, you nurture then practicals follows... don't be surprise during nurturing... they might develop interest in sth totally different...
Thanks for the input

emmanuelewumi:



Get a budget, operate within the budget try and save 5% of your income every month for a start, cut off unnecessary expenses then increase it to 10% and more Get a side hustle which can generate more income.


Education of our children is a right that can't be negotiated, giving them a headstart through good investment is very important in Nigeria.

The average person will think of only education, don't join the group of the average Nigerian.

Thanks for the insight senior man
Do you mean, Saving 5%-10% of my income in a savings account or just setting up an account in her name to be managed by wifey or sth...

Yea, i work as well have side hustles which i intend to increase

oluwaleokey:


Thanks for the insight senior man
Do you mean, Saving 5%-10% of my income in a savings account or just setting up an account in her name to be managed by wifey or sth...

Yea, i work as well have side hustles which i intend to increase

It depends on you. You are the only person who knows how you operate your home.

The starting point is savings.


Have you bought money market funds or Treasury Bills?

When what you have is substantial, you can then start thinking of business or Investment

olujaidi:


I don't have kids but I know they imitate your behaviour, imbibe your beliefs and your consistent statements. So, I'd say you should invest in yourself and improve your actions. Make yourself more knowledgeable; watch what you say; let your actions be consistent with what you preach. Explain things on the news to them as well as the implications. I don't know if it's possible to teach delayed gratification though. Make sure your missus is on board.

As they grow older, get them piggybank/Kolo and make sure they put the money in themselves. Make them personally responsible and frequently check on them to make sure they're accountable. Teach them your own skills eg negotiation

This is morals!
Once heard about the piggybank methods as they are growing....
Many thanks bro