I think the use of the word scammer without proof is what is being contended, perhaps using a more cautious word like "beware of this guys, this is is the kind of message he sends around" would probably have seem more appropriate.

But the way some of una stick out una neck for the guy shock me sha. Asking a stranger for 300k with a promise of 10% in one month is a red flag na. Haba.

Nnamz:

As hard as it is to believe that anyone would fall for such cheap scam, there might be someone out there who might have fallen prey to him were it not for posts like mine. I am alerting people on threads he has posted to be aware of him, and you're coming out here to defend him or criticize me? Maybe you're one of them else you won't be defending him. Okay Emmanuel borrow him your own 300,000 Naira

Happy Sunday seniors. Please which business can I do to get minimum of 500k monthly? How much capital will be required to start such business? I humbly solicit your kind ideas please

Pee2Jay9:
Happy Sunday seniors. Please which business can I do to get minimum of 500k monthly? How much capital will be required to start such business? I humbly solicit your kind ideas please

Banditry

Donbrig:
You are rich if you have over 50m net worth, and can generate a minimum of 5m anually from this 50m as passive income.

You are wealthy if you have over 250m net worth, and can generate a minimum of 25m anually from this 250m as passive income.

Though this is relative and doesn't have any statistical fact. But our high inflation rate could also be a threat as to how much you really need to be rich or wealthy.

However, there is a very big difference between rich people and wealthy people. If you know you know.

Are you sure, this is what someone said you will need in order to have a comfortable retirement.

A whooping N160 million, 99.5% of Nigerian workers can't have that at retirement ooo.

Not possible

Pee2Jay9:
Happy Sunday seniors. Please which business can I do to get minimum of 500k monthly? How much capital will be required to start such business? I humbly solicit your kind ideas please

500k profit or revenue. Anything from N5 million to N10 million, but you will hustle ooo.

If you need passive income you will need about N50 million and above

Nnamz:

Hey everyone he's a scammer who regularly emails people asking for a loan. Watch out for this guy. See attached the email he sent me, and he's sent such emails to other people

To ask for loan is not a scam nah. If you are not interested shift his email id to spam mails. Don't get triggered unnecessarily.

One guy in Lagos, Portugal is about now just saying on TRTWorld how he sold his house and everything to invest in Bitcoin. Fortunately for him, his investment was profitable.

Pee2Jay9:
Happy Sunday seniors. Please which business can I do to get minimum of 500k monthly? How much capital will be required to start such business? I humbly solicit your kind ideas please

He plenty nah, businesses way dey give 1 to 2% monthly on invested money.

Note that u need atleast 100/2 x 500k as capital. So, my question is do u have 25 mil to invest?

ojesymsym:
One guy in Lagos, Portugal is about now just saying on TRTWorld how he sold his house and everything to invest in Bitcoin. Fortunately for him, his investment was profitable.

Him try nah, what of this guy?

LAS VEGAS -- A British man who sold all his possessions, including his clothes, stood in a rented tuxedo Sunday surrounded by family and friends and bet everything on a single spin of the roulette wheel.

He won't go home empty handed.

Ashley Revell, a 32-year-old Londoner, sold all his possessions in March, took $135,300 to the Plaza Hotel in Las Vegas, did some low-stakes gambling and then placed everything he had left on "red."

The wheel was spun, a crowd of supporters including his Mum and Dad from London went wild, the ball bobbled over the slots and landed on Red 7 -- and Revell walked away with $270,600.


Me sef bet 300k (Naira o, I never see dollar before o) on 2 odd game some years back, I won!

ositadima1:


To ask for loan is not a scam nah. If you are not interested shift his email id to spam mails. Don't get triggered unnecessarily.

You didn't see your church members to ask for that loan, or your church pastor. What about your coworker, a friend, even your family members? Or maybe reaching out to a former professor, classmate, or even your next door neighbour. Wait! I almost forgot banks which is the first place you should think of. But nooo. You decide to target strangers on Narialand to ask for "loans", with 10% interest in a month. You are mad. Keep deceiving yourselves. Ode.

Nnamz:
You didn't see your church members to ask for that loan, or your church pastor. What about your coworker, a friend, even your family members? Or maybe reaching out to a former professor, classmate, or even your next door neighbour. Wait! I almost forgot banks which is the first place you should think of. But nooo. You decide to target strangers on Narialand to ask for "loans", with 10% interest in a month. You are mad. Keep deceiving yourselves. Ode.

If u come at me I go give u double my friend. Na ur papa be Ode.

emmanuelewumi:


Are you sure, this is what someone said you will need in order to have a comfortable retirement.

A whooping N160 million, 99.5% of Nigerian workers can't have that at retirement ooo.

Not possible

You don’t need to be ‘rich’ or ‘wealthy’ to have a comfortable retirement.

A man and his wife (in good health) wey get decent house for village (assuming they have grown up children that are not depending on them for money) don’t need more than 100k to 200k monthly to live a decent life. With like N20m to N50m in correct bonds at retirement, they are good to go

A very frugal retiree can even ‘survive’ on 50k per month in a ‘village’ where life is very simple. This person will need much less than N20m. This is really pushing it sha but wetin common man go do na

ositadima1:


If u come at me I go give u double my friend. Na ur papa be Ode.

emmanuelewumi:
Please what is the difference between a rich man and a wealthy man?

Rich man has just money nothing more ...

Wealthy man has Money, Power, Influence and connections in appropriate and highly diverse measures extending beyond generations and from generations to generations!


I prefer wealth to Riches and to be wealthy, it involves thinking beyond Money ... Money is just the starting point to building generational wealth !!

DonroxyII:
Rich man has just money nothing more ...

Wealthy man has Money, Power, Influence and connections in appropriate and highly diverse measures extending beyond generations and from generations to generations!


I prefer wealth to Riches and to be wealthy, it involves thinking beyond Money ... Money is just the starting point to building generational wealth !!

You people and generational wealth ehn.
There is no formula to build wealth,rather riches.
It comes by chance and opportunity.
It is possible for a hardworking Guy or lady to own 100m naira in his/her lifetime,but can you give me a workable strategy to being a billionaire in your lifetime?
A workable one please and not some fantasy BS.
When I'm 40,i will buy a brand new S class and start balling so hard ,vacations,etc...
If my children like,make them no work hard,make them dey look for who go build generational wealth for them lol.
I pity them in advance.

I think you could live a good retirement life with 100-200k monthly, just as lazyyouth had said.

My previous post was only reflecting what you truly need to be rich or wealthy.

Our financial responsibilities differs as individuals after retirement. With inflation rate touching the sky, even that 100 to 200k monthly as a retiree might be challenging in 10yrs from now.

emmanuelewumi:


Are you sure, this is what someone said you will need in order to have a comfortable retirement.

A whooping N160 million, 99.5% of Nigerian workers can't have that at retirement o

Not possible

Good Point, any rental property that can not give 10% income is not worth, i also agree this property is over hype and inflated.

DigitalMallam:

Did you say one bedroom?
How much will 3 or 4 bedroom go for?
The Naira has has become so worthless if a block of 1bdrm is going for approx 20m in Ikeja.
What will now be the rental income, will they now pay 2m per annum for a 1bdrm apartment?

Guys i want to make a proposal, if una no go mind. I am thinking we should have a monthly chat meeting of 45mins on investing and strategy to grow wealth. I know we have been sharing a lot on the forum. I am just thinking we can put this together. Just like Pattio gang . we can have T-bills nairaland Gang. It would be once in a month meetings, It would be zoom meeting. We can make it Saturday night ( Afternoon my time in Canada). Let me know what you guys think.

Godbpraised:
Good Point, any rental property that can not give 10% income is not worth, i also agree this property is over hype and inflated.

Where will you get a property that will give you 10%. The highest is 7.5% to 8%.

As time goes on, the rent will increase

@ Bros me thinks that is a good deal. Yes if may be good to start with 8% , but 10% is even better. Though i have had my fingers burnt, infact i invest without getting 1% self. tenant is paying 750k rent , mortgage is 1.25M really hard.

emmanuelewumi:



Where will you get a property that will give you 10%. The highest is 7.5% to 8%.

As time goes on, the rent will increase

Lazyyouth4u:


You don’t need to be ‘rich’ or ‘wealthy’ to have a comfortable retirement.

A man and his wife (in good health) wey get decent house for village (assuming they have grown up children that are not depending on them for money) don’t need more than 100k to 200k monthly to live a decent life. With like N20m to N50m in correct bonds at retirement, they are good to go

A very frugal retiree can even ‘survive’ on 50k per month in a ‘village’ where life is very simple. This person will need much less than N20m. This is really pushing it sha but wetin common man go do na

Which village you wan spend 100k to 200k a month?. Na the entire village you go dey feed on monthly basis?.

After retirement, health is always one of the biggest issues that could ruin your finance if you don't have a good financial stand, not just food or other social activities.

Pray not to have a health situation when your local doctor will refer you to India or one of those expensive hospitals in Nigeria for a treatment that could cost you millions.

If you can, try to always increase the monthly earnings for your retirement goals, no amount is too big to earn after retirement, especially when you have invested enough money. I only feel and pity those poor civil servants who don't have too many options.

NL1960:


Which village you wan spend 100k to 200k a month?. Na the entire village you go dey feed on monthly basis?.

8% is really good, where can someone find such property in Lagos.

In 2019, I was offered a bungalow of 3 bedroom at N19 million with annual return of N750k in a gated estate, works out to give 4% return, I opt for fixed debt instrument at 10 percent rather.

emmanuelewumi:



Where will you get a property that will give you 10%. The highest is 7.5% to 8%.

As time goes on, the rent will increase

ojesymsym:
I think the use of the word scammer without proof is what is being contended, perhaps using a more cautious word like "beware of this guys, this is is the kind of message he sends around" would probably have seem more appropriate.

But the way some of una stick out una neck for the guy shock me sha. Asking a stranger for 300k with a promise of 10% in one month is a red flag na. Haba.

I wonder who seek loan on a faceless forum through email.

NL1960:


Which village you wan spend 100k to 200k a month?. Na the entire village you go dey feed on monthly basis?.

As a retiree wey just return, man pikin need to budget for fellow villagers na

And as Don said, one must also think about health. So the budget also includes healthcare costs

Pee2Jay9:
Happy Sunday seniors. Please which business can I do to get minimum of 500k monthly? How much capital will be required to start such business? I humbly solicit your kind ideas please

kidnapping, maybe.

Kidding... Its very possible but not easy.

emmanuelewumi:


500k profit or revenue. Anything from N5 million to N10 million, but you will hustle ooo.

If you need passive income you will need about N50 million and above

Hustle doing what exactly? I think thats what he really wants to know.

Donbrig:
After retirement, health is always one of the biggest issues that could ruin your finance if you don't have a good financial stand, not just food or other social activities.

Pray not to have a health situation when your local doctor will refer you to India or one of those expensive hospitals in Nigeria for a treatment that could cost you millions.

If you can, try to always increase the monthly earnings for your retirement goals, no amount is too big to earn after retirement, especially when you have invested enough money. I only feel and pity those poor civil servants who don't have too many options.

In other words, common man wey no go get plenty money for retirement must stop junk food, ciga and Shayo and codeine and Tramadol extra immediately in order to avoid unnecessary health issues and keep him retirement budget as low as possible in old age

OgogoroFreak:
I wonder who seek loan on a faceless forum through email.

One who is a scammer. Leave all these people defending him. They know their type.

SeaTrade:
You people and generational wealth ehn.
There is no formula to build wealth,rather riches.
It comes by chance and opportunity.
It is possible for a hardworking Guy or lady to own 100m naira in his/her lifetime,but can you give me a workable strategy to being a billionaire in your lifetime?
A workable one please and not some fantasy BS.
When I'm 40,i will buy a brand new S class and start balling so hard ,vacations,etc...
If my children like,make them no work hard,make them dey look for who go build generational wealth for them lol.
I pity them in advance.

most of the trading billionaires i have studied na Luck but they choose a sector that has the most chances of minting millionaires ....example a guy managing his weekly bdc business suddenly some strange clients ( Smugglers ,contraband dealer and politician) will start buying from the said chap ....boom he turn billionaire over time in asset and cash .....other went into oil and gas to make a living boom banks supported the business and franchise commision own 400 stations and a depot....other have corrupt govt officials invest their loots in their enterprise...

Lazyyouth4u:


In other words, common man wey no go get plenty money for retirement must stop junk food, ciga and Shayo and codeine and Tramadol extra immediately in order to avoid unnecessary health issues and keep him retirement budget as low as possible in old age

lol yes,if funds no too dey.
But if bread dey as e dey,drink as you like and drink good stuff,not cheap shit and take plenty water and fruits too.
If you fall sick for old age,funds to treat am suppose dey
I no dey play with my highness as you see me so

ahiboilandgas:
most of the trading billionaires i have studied na Luck but they choose a sector that has the most chances of minting millionaires ....example a guy managing his weekly bdc business suddenly some strange clients ( Smugglers ,contraband dealer and politician) will start buying from the said chap ....boom he turn billionaire over time in asset and cash .....other went into oil and gas to make a living boom banks supported the business and franchise commision own 400 stations and a depot....other have corrupt govt officials invest their loots in their enterprise...

You couldn't have said it any better.
With trading,almost immediately you turn millionaire,but you see billionaire?You no go smell am.
Even upon all the corners weh guys dey cut,no way!!
Except maybe you enter distributorship for one better company weh their product dey move market and you build it overtime.
But where you want see am?guys don full those companies already and they wont sell to you,even if they do you will struggle in the market with existing giants.
Unless you take the risk now and enter one new company weh their face never show and build with them,but then na huge risk?
What if e no sell?your capital don enter gutter be that and you return to poverty.
So you fear and stick to trading.
Even in corporate world,the same thing.
It's not easy anywhere,except you are an inventor these days or you dey continue some grand business dynasty.
Generational wealth kor!