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