Today’s Decsions

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Sooo No I didn’t forget this site existed I just needed to laspirate and sleep…and sometimes I want to be unpredictable.  Today i want to actually have a discussion by asking several questions…If you are 20 and over and done with your university education – this is applicable to you….

1. Do you have an investment portfolio? If yes what is the composition? From an asset standpoint-  Real Estate, Equity, other instruments such as businesses or other assets? What influences the investing pattern? Your handbags and shoes don’t count, jewelry can be applicable…

2. Do you have a will?  If you die tomorrow are your family members going to end up fighting over your assets or debts?

3. What is your financial philosophy?

I will answer myself so that way its not a biased or one sided discussion

1. About 60% real estate, 20% jewelry (don’t worry it’sin a safe deposit box in the abroad),20% financial instruments. … I am not great at saving money and just watching it- I will find something to buy or someone to give it to…so no cash for me- only in minimal amounts. More so globally real estate seems to be a better buy…in terms of financial instruments – I was burnt bad with the last recession so I am just getting my feet wet again.

2. Yes I have had a will since I was 23- even though I am still 21. I never want my mother to be left out in the cold or have any disagreement over money with anyone. Right now it is set up from a percentage standpoint- even if you have only N50k to your name- a will is important.  None of us is coming out of life alive….I do need to update mine though, its a bit dated.

3. My philosophy is making my money work for me.  Sacrifice now to be much more comfortable later….I don’t wantto struggle past 35…

So over to you….please share your thoughts…

Winners Wednesday is still HERE

NESTR
OAD

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12 Comments on Today’s Decsions

  1. 1. Investment: solely real estate. Let’s just say I am a beginner. Lol.
    2. Will: nah. I do have life insurance with my job though and it states exactly what percentage goes to who if I wind up dead on a street corner. Does that count?
    3. What influences my investment pattern: how much money I have at the given time and what’s available.

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    • N it’s not a crime to be a beginner at all – its how you choose to grow that matters. Life insurance policies are good, but just one step in the right direction.

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  2. *howling all the way to my lawyer/banker sister to get my act together*

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  3. Very risk averse. Investments are limited to my 401k only now looking at real estate sha. God let my heart handle risk small small.

    Since I started doing dubai, I started acquiring jewelry small by small. I know many women who sustained their families when tough times hit by selling their jewelry. So let me be acquiring small small

    Like N, no will. Just recipient of my life insurance. Everyone in my immediate family knows who gets everything if something happens to me sha. We kind of all have the same person. But when I get married I’ll create a will. And everytime I have a child, I’ll keep updating.

    I can never understand why naija men are afraid of wills. Especially igbo men. They are well aware of the craziness that happens when a man passes but refuse to plan to put their houses in order.

    Protect the ones you love. It’s important

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  4. Hmm…call to order.
    Investment(s) – I used to do bank shares until it all collapsed so I guess I’m back to square one. Looking to go into real estate.
    A will – I suppose having one isn’t a bad idea.
    Put your money where you mouth is and let it come back to you.

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  5. 1. Investments are mostly in real estate, I have reasonable savings, and a small size of jewelry. no stocks or bonds yet.
    2. I don’t have a will yet, but i hope to work on it soon. I however have a next of kin for most of my assets.
    3.I don’t Know if I have a philosophy per say.

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  6. no 2. no will yet, but will consider putting one in place
    no 3. my philosophy is never spend money if you haven’t saved or invested a triple of that which you intend to spend

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