Dear friends, if you recently graduated, or have worked for less than 10 years, you should know a few things.
Nigeria is hard and few people will give you free access to wealth creation opportunities. You also have the “cabal” and the system to contend with. If you are not corrupt, you will be hard-pressed to keep your head above water.
Many of you may never start a business and statistically, only 1 in 10 who do so may succeed. Some of you may never own an oil block or get a government contract. You work in a company, so your path to wealth will largely be based on how well you invest the salary you make every month. We all know your pension is at best a stipend, not something to live on.
Please know that there are three phases of work. Should you waste the first one, you may struggle to be comfortable in life. I’m not being fatalistic. I’m just speaking plainly.
The initial phase is the first decade of your working life. If you’re not a member of “pepper dem gang”, your living costs should be low. You probably stay with your parents or share an apartment with room mates. No one will beef you for jumping buses and taking okada, or even eating in a bukka. You’re young and hustling. Your costs will NEVER be this low again. This means you have some disposable income to invest now. You are also at the highest peak of your health and productivity. You’re young enough to sleep at 12am and be awake at 4am. You can easily juggle 2 or 3 hustles, and you have a healthy risk appetite. Use this time well.
By your second phase of work (your next decade), you better have enough saved for marriage, bigger accommodation and children’s school fees. If you haven’t, you will be living hand-to-mouth. It is at this point, that your aged parents may start developing chronic diseases. If they have no significant income, you will need to pay for their hospital bills. In addition, if you have no wealth generating assets, know that you cannot afford those vacations you go for.
By your third phase of work (your third decade), your mates will be MDs and EDs. You should be too. There are certain meetings you can no longer go for, because people will shake their heads and wonder if your company has no other competent staff. You will desire to fly business class because that’s where you should be. Your children will be in college and you need to pay for their fees. You want to build a house. You don’t want to hustle anymore or resume in the office at 8am. You now want to be a deal-maker, not a member of staff.
During my 3-Day Whatsapp Investment Education Course, I focus on those who want to seriously generate wealth. Anyone can save. Few have the knowledge, insight and exposure to know WHERE to invest those savings in Nigeria, to create appreciable returns. If you’re still in the first phase of work, please do not make the same mistakes I once foolishly made, by not actively investing at an early age.
During my course, I share six videos that highlight the investment options I’ve personally explored over the years – Money Market, Capital Market, Real Estate, Agriculture, Export and Venture Funding. I also lead daily discussions on WhatsApp. Finally, I share what an investment plan should look like in your productive years. If you’re on my mailing list, you will receive details of my class from time to time. You should tell a friend who needs it.
Written by Subomi Plumptre