₦airaland Forum

DEBUU:
Sir your story is very inspiring, pls sir can I get the soft copies of those books . My email : frantexx28@gmail.com thank you sir. May God continue to lift you higher, may he continue to guide and protect you. Sir I am available to work a young graduate in Computer Science. You are a model

Sent 10 books to you Sir.

Best regards.

Austine567:
CAN you pls elaborate more about this book the richest man in babylon? i have been hearing about the book .

Best thing is to use your data and get it here.

https://www.jamiiforums.com/attachments/the-richest-man-in-babylon-1-pdf.706389/


You can also find an interesting summary of the book here:

[url]http://thepdi.com/Richest%20Man%20in%20Babylon.pdf[/url]


Better still, for ease, you can buy a hard copy. At the motor parks many good books are hawked and sold for 700 to 1500 naira. One of the rules to wealth is acquiring knowledge about the subject- WEALTH CREATION AND WEALTH MANAGEMENT. Acquiring knowledge is investing in yourself.

JimD:
You should read and note down the investing sins discussed in this book:
7 sins of investing - Maury Fertig

Olujastro

You can get the recommended book here:

[url]http://www.untag-smd.ac.id/files/Perpustakaan_Digital_1/FINANCE%20The%207%20deadly%20sins%20of%20investing%20%20how%20to%20conquer%20your%20worst%20impulses%20and%20save%20your%20financia.pdf[/url]

Yankee101:
People make money delivering Pizza here.

Nothing like shame for hard work here

The mentality a lot of Nigerians lack here.

And I hope it changes.

I however noticed that a lot of them in the USA also lack financial intelligence and are in debt with credit cards etc.

Yankee101:
In America I'll recommend you run your own business. Working for someone else is slavery.


Celebrity tax rate is like 40 to 60% plus agent fees etc

If you work for others your tax and social security deductions is nearly 30%

Business owner 15% with ability to write off your cars, houses, food etc as business expenses

Stock market 10%

Very true.

I am not US Based though.I live and work in Nigeria. Visited briefly.

The flexibility with something as simple as doordash was amazing. Funny thing is we met professors and other gainfully employed people who do it in the evening just to kill boredom and make some extra buck while at it. Quite humbling and revealing.

odigbosky:
Sir, i have gone through the file you sent and i will probably end up in the General section or Major section. I have a problem concerning the company being registered. My dad's company is a venture that deals on Timber, can it still apply in the General or Major sections?

My personal opinion is it applies to the General Category. However, note that DPR may decide that it is Major. At times they use their discretion.

Before you register please try and ensure that your target market of choice (oil companies or wherever) need timber of various types for various purposes. I KNOW THEY DO, ESPECIALLY IN DRILLING FIELDS etc. Long story short, ensure you have a market. Entrepreneurship is THE CREATIVE PROCESS OF IDENTIFYING MARKET OPPORTUNITIES AND UNMET NEEDS, AND THEN BUILDING SOLUTIONS THAT MEET THESE NEEDS AND BRING VALUE TO CUSTOMERS.

In entrepreneurship or ANY BUSINESS IN THIS WORLD, You must Create Time Value and/or Form Value and/or Place Value.

Yankee101:
U can make that monthly here if you get at least $3k per month post deductions

Quite true.

Doordash alone gives a relative roughly 110-200 dollars per day. In a week about 1400 dollars and about 5000 plus dollars in a month. That is roughly 1.5 to 2.0 m Naira in a month.

Even I was amazed that he could earn more than I do, even with my white collar job.

It is quite amazing. Meanwhile he could work night shift in some other places for a few more hours if he wanted to.

NOBODYY:
I'm 20, fresh graduate
Highest amount I've owned at once is about 80k,
I don't even have a clear cut picture or career path towards earning millions
Life is unfair o

You need to be mentored on how to look for opportunities in rendering a service or providing goods or both. Then you select which is your passion or which area you are interested in. Set out your goals and get to know what it will take in terms of finance, time and skills/knowledge to reach where you want to be. Then set to work. You need to be mentored and you need to focus. What are you planning to do now? What do you do with your time? What about in NYSC? What do you plan to do with your time during service?

odigbosky:
made my first 200k last year and i almost ran mad. since then i have been trying to get a million naira but i am so family oriented that i like taking care of my family even at my own expense. i will be graduating next year and i want to go into Oil and Gas sector. i want to learn anything there but the companies for such are not located near me.
Aside this i am open to learning any side hustles...I must admit one thing, Money brings confidence ooooooo, no matter how small it is.
Poverty starts creeping in when we start becoming comfortable

The oil and gas business has various aspects. It is highly specialized and you need to be very specific on the thing(s) and service(s) you want to engage in. From exploration, to drilling, to completion to production to maintenance/servicing to general contracts like supplies etc. You need to know the area you really feel you can handle based on passion and desire. Experience and knowledge can be sought.

Follow this link to the DPR Site and see the various categories and the area you desire:

https://www.dpr.gov.ng/wp-content/uploads/2018/08/LP-GUIDELINES-2017.pdf

To do anything in the oil and gas industry you need a DPR License. Even if you want to evacuate poop! The link above will give you some ideas on various services.

Cheers.

joinnow:
The books ie Kiyosaki and trump etc are they in soft copies ? If they are could you be kind to send to me.

Yes they are soft copies. I have them in a folder called 'wealth creation and financial intelligence'.

Yes I can send them to you based on google's attachment limitations.

I Was 26.

Graduated school in 2004. Just before graduation, my mother had advised/suggested that I learn a vocation. ''Handwork'' as she calls it. But for reasons I cannot recall, I did not. A resourceful woman that she is. She knew that a craft or skill could always put food on the table when the chips are down with respect to a graduate's certificate. During NYSC, I taught in a remote village and learnt French. With respect to entrepreneurship, I only thought of buying cheap food stuff and sending to my home state. But I never pulled this through. Eventually, (both during and after NYSC) I choose to apply for various jobs. Any that was available. I needed seed capital for my dream. I recall trekking Trans Amadi Industrial Area in PH dropping CVs to companies. Many oil and gas servicing firms were there. Out of desperation,I even went to Primary and Secondary Schools to look for teaching jobs. Come see their shakara untop my 4.01 Second Class Upper. But I couldn't be bothered. I knew I needed to get a job first, then raise seed capital even if I wanted to start a business. Background was humble and family was just managing. Wrote various aptitude tests for banks like Intercontinental, other banks, Freisland, Diageo, LNG, etc. And another test with an Oil and Gas Agency. The first job I landed was with a bank. Old Generation Bank still existing today. Got a job as a Banking Assistant-Graduate Trainee. Went to Lagos for 1 month training and was posted to the Eastern Part of Nigeria. While in the bank in 2007, the Oil and Gas Agency finally called. Their recruitment took super long. Left/dumped the bank like crazy. Resigned without thinking twice. Salary in the Bank was 59,000 monthly back then. One of the lowest paying.

In my new job, housing allowance was 1.6 Million annually. Salary about 200k monthly. Not to mention hazard, offshore, etc. allowances. I was 26. I recall I called up my friends in the bank and jokingly told them they are all small boys.. . Teasing them and telling them how if I wanted to I could buy a car every year. By God's grace, Finances have never gone below 1 million naira. Savings alone with Work Staff Cooperative Society is multiple millions. ONE IMPORTANT THING IS I KEEP MY LIABILITIES AND EXPENSES LOW and still do. Never believed in the ''I need to upgrade so people know I have arrived'' mentality. I dont need any man or fine girl to see me as ''A Big Boy''. I successively acquired 4 properties. 2 Lagos and 2 back home. Built first house in Lagos. Added two shops to the front section. Completed and rented all flats and shops out. I still live in a rented apartment. It is cheaper for me to stay there than in my house.

Eventually, those with financial intelligence know that money in the bank and dormant salary/income doesn't bring returns. Money is a messenger and money doesn't like being idle. You need to send it on good errands to bring more money, and the cycle continues. Also, there is time value of money and money depreciates. With all these at the back of my mind, I urgently needed to transfer a lot of my finances into assets that will generate income. This is still my biggest challenge today. How to identify good investment opportunities. Additionally, as Warren Buffet said If you don't find a way to make money while you sleep, you will work until you die. . There was need to invest in passive income businesses.

I have focused greatly on developing my skills and developing myself professionally in my area of expertise/discipline. I eventually set up a Consulting Firm/Company in my area of expertise with freelance workers. I read a lot, pay for courses myself. I do not always wait for my organisation to train me. All these coupled with work sponsored courses ensured I knew my onions in my field. I love to read about wealth creation and financial intelligence. I have a crazy collection of over 20 books. Kiyosaki, Trump, Napoleon Hill, etc. and I love watching Grant Cardone, Tai Lopez, etc. on Youtube at my spare time just for encouragement. My job is still there by Gods grace and I am rising through the ranks. Consulting firm is growing strong. Now Consult for both Upstream and Downstream Companies. Trying my best to brand the company with a good website, good brand image, modernized logo, etc. Currently, I have the desire to open a conglomerate to diversify to various sectors. Picture Dangote Group. Called up a lawyer for advice. I intend to go into a lot of business ventures. I shall do Healthcare/Pharmaceuticals, Construction, Real Estate,Catering Hospitality and Tourism, Marine, Telecoms, Financial Services, Foods, Entertainment, Mass Communication/Media, Education,Agriculture & Agro-Allied, etc.

Recently, I realized that needed daily revenue and need more income streams. Having A job is an income stream, having a consulting firm is another income stream. But I could do better. No need to wait till end of month for pay/salary or wait till companies pay for contracts executed. Some companies can owe you for ages on completed jobs. My Consulting brings money but you have to chase contracts and bids etc. Plus, contracts dont come easy. Also, price war between contractors drives down profit margins a lot. All these in mind, I am currently planning to open a Mini Plaza with a lounge anywhere after Ajah Axis in Lagos. Currently, searching for property for this venture. Need something with daily returns so the idea that I should open my own Lounge/Bar/Cafe with a small plaza for sharwama,asuun,nkwobi, fried potatoes etc.I have always pictured myself closing from work and going to handle my business at the Lounge/Bar & Restaurant and watch customers eat, drink, chat, laugh and merry. That is my next project and next income stream. A fourth (4th) income stream I am planning is to follow Grant Cardone's idea-''build multi-family dwelling housing in a property instead of a single family unit''. So picture multiple 1 & 2 Bedroom self-cons./apartments instead of a gigantic big duplex. With the multi dwelling units you are sure of some rent. Intend to do this with the other land in Lagos and more I intend to acquire in other parts of the world (Yes the World).


ONE BIG MISTAKE I MADE WAS NOT LISTENING TO MY LATE MUM. Like I hinted, she practically forces all her kids to learn a vocation/a skill regardless of how highly educated you are.All my sisters can sew, cook, bake, make soap, grill fish etc. Personally, she wanted me to learn Welding and Fabrication. Perhaps, I felt I was too educated for it or something, but I never did. Perhaps by now I would have been constructing Sky scrappers and handling huge projects with my current knowledge and exposure.

Taken liberty to post a few diagrams to educate people in a glimpse about financial intelligence. How the rich use income to create assets that generate more income. And how the poor use income to create liabilities that keeps them poor. The poor spend money on liabilities. To them that is ''enjoying'' life. The rich spend on assets. These assets are GOODS,SERVICES, PROCESSES that can solve human/society's problems. In Economics, this is called UTILITY or VALUE. Utility can be TIME UTILITY (You help people save time), and/or FORM UTILITY (You produce something in a way people want it) and/or PLACE UTILITY (You bring something closer to people so they easily reach it). Humans naturally want value and so they take decisions on any thing that will give them least risk, least effort, cost them less time and highest value/less money. The wealthy and wealth creators realize this and do not really focus on the money but focus on solving problems (creating utility) which people are willing to pay them money for. The rich get seed capital, invest it to create wealth. The poor/managing get seed capital and buy liabilities that even put them into more debt. THE WHOLE WORLD NEEDS FINANCIAL INTELLIGENCE AND THE PRINCIPLES OF FINANCIAL INTELLIGENCE SHOULD BE TAUGHT IN SCHOOLS.

All in All I am GRATEFUL.