Hey, focus's give me a handle if you can hear me, you guys, give me a hand. Yeah, there we go. Okay, guys, sorry about that. We had a technical issue or fixed.
And we're good to go.
Uh. We are live.
Now on Twitter.
I's going to get the YouTube guys up and running because we're gonna do visual as well. So thank you guys for all being here. I appreciate it. Again. Welcome to another money space with me Caluaja this money space and of course on this space, and we're talking about money, capital markets, and of course the economy.
But this week, especially this week, of course say.
This, and I think next Sunday we're gonna be talking about should we say your money? Right? We were talking about Germany, how you can plan out your budget, what to look out for four years, ended on of course twenty five. So again I put a YouTube link it's on their Life because I want to talk about some visuals that will literally make sense for you guys as we go along.
So I have shared earlier on those tweet and.
Again guys, I'm gonna talk too much. It's really your space. If you guys have questions about basically how to plan to what it is your chance to send it to me and we talk around it, right, but let me just share it. So if you're on YouTube, it's easier you can see the visuals. Otherwise, I also share the visuals here on Twitter, but it's going to take some time. Right, if you look on the space on each like tweet
and I'm gonna do it again. I gave you what to do for twenty twenty four as you're going to five, right, how you can if you what has happened in the pasture, and how you can set yourself up for what's gonna
happen in the new year. That's all we try to do this space, right, So there are lots of past looking at your income, your expenses, your net worth, and then building out a budget, building out egenssive funds, and sort of tying that all into a plan to a program that essentially what we want to talk about today, and just focus on Twitter. I can retreat that particular
trend on what you want to do first. But if you've got your pen, you've got your paper, essentially you just tell you what how you want to basically go about this, right, So if you're writing down and I'm just I'm going to repeat this all over and over, but if you're writing, then I'll just start with this right to You've got to have a plan, right, I want to have a plan, like a simple plan. What do you think you want to achieve into the five? Very very simple. It could be that you don't like
to increase your income. It could be like want to be desk free. It could be you want to go to get at home. But just have a plan that you can visualize. And that's just I want you to have a target that's going to be you're going to chase down into into the five. But then I want you to see how you're going to get to That plan is what I'm going to give to you now. So the very first thing I want you guys to do this you're doing good to be four, it's going
to apply to into the five. The first thing you're going to do is to take a piece of paper and excelciate or no program and trying to capture all the income, all the income that you're going to make. So you want to capture all the income that you want to make, right, and that income is going divide the income into three specific three specific points three specific one is going to be active income is see TIV active income, so your active income, it's what I want
you to write down active income. The second one is going to be your passive income passive income, So passive income is going to be income that you're gonna make when you're not at work. Let's say you've got shares, you got cash, that's your passive income. Then the last one is going to be your investment income, so that's active, that's passive, and then investment income. All three don't get to write that down. And if you look on YouTube right,
I'm sharing that. We will also copy that. I'll also share on Twitter. So YouTube the infographic is there, you can see active, you can see passive. If you're on YouTube, you can see it. But I'm going to share also on Twitter on this particle costream, so you guys also follow. Right, So when we first and first, like I said, write out act your income and income divine in committed for your active income, your passive income, and of course your
investment income. So we've got that right now, let's not go into expenditures. You're also going to write down your expensionses are just headers you're gonna have an header for expenditures, so it's going to be your discretionary expenses and your non discretionary expenses. So just two items for expenses, your discretionary and your non discretionary. Right, you got that down, So now you should have either five or four elements. One's going to be your active income, one's going to
be your passive income. They're gonna have total income, they're gonna have discussion expenses and non discussion expensive. So now I'm gonna share on a Twitter space as well. So if you're on Twitter, just look at the latest to are just posted. You should see how I want you guys to do it. Just share now on Twitter. So if you look at an infographic on Twitter, you don't see number one active income, so you're gonna see passive income, and then of course that's gonna give you your total income.
Do you guys see If you guys give me a tombs up, iitiate it on Twitter and it's also live showing. It's also live streaming on YouTube as well. So if you can see that diagram and give me your tombs up that you can continue. Just go to the last two they just shared. You're gonna see your active you're passive. Can you guys see that? Give me your tombs up if you can perfect. So we have one, two, three,
four five items. When you while you your entire reason for working, for having a job, I won't even you have a job, either you own your own business or you work for someone. This is exactly what you're trying to achieve. Once you're trying to achieve Number one. You want to earn income. So you see number one is Number one is your active income. That is all the income you make because you are actively present. That's going to be your salary. And if you own your job,
your own business earnings, that's number one active. So if you go to work, or your own partner in a job, or you are busiting, you are the CEO, you own your own company, that's active income. Number two is your passive income, that income you make when you are not there. So that income you're mad an income when you are not there at all. That's going to be like your rent, your dividends. You own a home in London, your home holding a bar, you're getting rents from those places. Your
dividend income, that's your dividend income. Total of both, it's going to be your total income total income. Right, You're objective in life is to number one, convert that active income into passive income.
That's why you're working.
When you have a job, or when you work for yourself, your own money, You've got to convert that income into income that comes when you are not working anymore. So that means that if I end a salary, I take my salary. Of course I have to eat, of course I have to buy clothes and all that, but I have to invest that salary so that I can then buy into a house or into a business that over time, the revenue I get from my passive income to perceive
the revenues I get from my active income. When your passive income supersed your active income, that's when you retire. So retirement is not a number. It's not sixty five, it's not fifty. Retirement is when your passive income is more than your active income. If it happens at twenty years old or an one hundred years old, that's when you retire. So your total income is not material. What is material for you is to convert your active income
your salary into passive income rental digdens. That's what you are working for nothing else. So what's the problem with most of us have our promise number four at number three our expenses. And you see how we broke down expenses. We brought the EXPERSSI into discretionary expenses and non discretionary expenses. What's the difference. Non discussionary experenses are the expenses that we must make. We can't avoid them. So we have to pay food, we have to pay rent, if you're
false sake, we have to pay the doctor. You can't avoid these expenses for your discretionary expenses are what you decide you want to spend money on. So the idea is this, your passive income has got to pay for your non discretionary expenses. That's your shot to medium term goal before you retire. So when you end active income number one, you want to convince active income to passive income number two. In doing that, you've got to ensure that your passive income number two is able to pay
your number three with the non discursionary expenses. Now, when you start off life, you're going to find out your total income is worth's paying off your non discursionary expense because you don't have more passive income if you just start work today. You end a lot, you end salaries, but you have no assets, so you work for a bank for us as legals, you can't pay the million narre of a month. That's your active income, but you have no assets. You have no car, you have no
house your own, so no passive income. So your total income is paying your number four and your number three. Your job short to midile term is to try to ensure that your passive income can pay your number three, so that what you are HEARDing from your investments can at least cover what you must spend. That's your half retirement. If you can hit that, that means that you are halfway there, because if you stop working, you can at least pay your expenses. This is what we call the
emergency fund. When you create an emergency fund, it is three to six months of number three. So your emergency fund is three to six months of your non discretionary expenses. So when you start to work active income, you want to open up a SAVIS account and saving that account and amount that can cover at least three times your non discretionary expenses. So you see what we're induced brought in emergency funds. We're brought in active income, passive income,
discussion expenses, and we're brought in retirement. This is the only infographic you need for your job, whether you work for yourself where I work for a company. This is all you have to know. Print this out, you put it on your mirror, and every day you ask yourself, have I converted active income to passive income? Have I is my number my passive Incomember two? Can it pay my number three? That's your emergency fund. So it's not
a number, your emerency not a number. It is three to six months of whatever you say your number three is. So if you say a number three includes traveling to London for summer, then the number two, which is your passive income, has got to pay for number three. You've got to save enough. But if you are prudent that you say no, no, no no, my number three, which is my non discription expenses, has to only cover things that are really fun to me, food, rent, medical. Then it
becomes smaller. So the amount is then save as amensity fund becomes much much much smaller. So it's your call. There is no best practice for this. What will two that you decide When you decide, you create your budget because it's your budget. When you do this info graphic, you create a budget to then save on number three and number four. You just don't create a different media. You create a budget because you want to keep your number three and number four in sync. Folks, I don't
know be the only one talking. So let's let's talk about if you have questions on this chat, let's hear them. I'm gonna go back to YouTube in case you guys have put something there, So we talk about just this particular child. Let me see then if you have a question on this, we can then go further now into the other parts of this bay, and we're just going to be your budgets, your reviews, and how you can ensure that you are capturing this properly. Do it, do something,
you can follow it. It's gonna go with an Excel sheet or not pocket. It's not gonna be technical or don't make it to do a complex. Get your income. I'm going to repeat again, Get your income right, I'm on your income divided into active passive. I didn't put investment income here, put odd investment income, so you have three income lex active passive. Investment. Investment is also passive.
If you can't separate them. If not living, impassive, then create your experience is number four and number three your discretionary and non discretionary. So what you are trying to accomplish again, like I said, is to move your active number one to your past number two. That's the first thing on that accomplished. The second thing want that complience to ensure that you're number two. You're passive, can pay your number three your non discussionary expenses, and that's your
emergency fund. That's your first fund that you build when you start to work. You don't start to invest. You want to do your emergency fund first before you start to invest. Make any sense, guys? Okay, perfect, So who wants to speak requests becomes to be interactive. I'm reading your cheap, but I do want it to be interactive. If you have any questions, I want to hear them. Let me see. So just to clarify, yes, that's what I said. So investment is going to be time you dig.
Investment is going to be part of your passing. If you want, you can separate it. So I can separate investments from say rentals. There's the reason for that. What that's going to be too, thank, I think yes, correct. So your non discretionary are going to be another question from you. Actually, your non discretionary expenses, it's.
What you say it is.
Food clearly is non discretionary. But if you don't say that, for instance, that you're seremoney home to your family is not discretionary, but we have to put it there as well. The point is this, whatever you say is your non discretionary, then it has to be covered. But at least three times of you know, three to six times savings in your but just fund. Your emergency fund is what covers
number three. And that's what you first of all build in your passive before you then talk about the retirement. Your long term goal. The long term goal if it's not working by twenty five, the long term goal is that when you assays sixty five or whatever age it is, that your number two replaces your number one. Rich people the way you know someone as is rich, they have more passive income than an active income. Elon Musk is
rich today. If he stops working today, he's not gonna go broke, right, because he's got equity in companies that would keep on paying him.
And didn't.
It just stops working today. He's not gonna go broke. That's the point, Oliver, how you doing? Welcoming takes again for joining, and I appreciate that. What's your mind?
Well, I just wanted to link in likely you.
The strategy.
I look at saying your expenses and intention of plying for next seas.
So I just wanted to support exactly. I mean, it's because I think people have a lot of words fly around. Sometimes people say emergency funds, people say actively income. I want to bring a lot together. That's what this infographic assure you. Where is your budget? Your budget comes in your three and your four. Emergency phone comes in your number two and number one. So it's all in this chart. If it's the only chart you want to take away,
you basically have learned everything in it. Right, So I see also a question I've answered one of the questions that I see, as you're gonna just this chart, I answer as most of them. You decide, was it not discretionary? You decide right, if you decide that's what you have to budget for. But I would say this, keep it. Keep your nondiscretionary only for things that you think you need, all that are important.
If send the money to your If pay for gym.
Is hellwise correct, then it's not discretionary. Great, the gym is healthy, so it's not an expense. But you do you want to pay for what? How much do you do for gym? That the best gym you can go for? Can you save monjipa jim the other things you want to ask yourself. But as a whole, pay for gym, Yes, can be non discretionary. So let's answer your question digit. So I want to move on to on the part of now how we want to do the financial health
check for twenty five. But I want to make sure we understand this chart before I then change it out and then plug in the other one. So if I stand all the questions, let's now, I'm gonna change the YouTube a swell do the picture there, and I'm gonna copy this out so that I can shade also on Twitter.
Then we can follow.
This is how we're gonna go step by step in twent twenty five. What I want you guys to do step by step into E twenty five. Right, what you're gonna do. You're gonna review your twenty twenty four and then you're gonna do your twing twenty five. That's what I'm doing right now. So let's go and I'm gonna copy this. I share this as well on my page. But we're gonna copy this and then we're gonna share as well, so you guys can follow again. So let
me change the infragraphic we have on YouTube. It's gonna be this one now, So we change this guy out and then we're gonna plug in our financial goals. Want you guys gonna set up financial goals right So, if you're on YouTube, you're single, we're talking about setting up your financial goals. And like I said, the financial goal can be what you want it to be. You can have multiple financial goals. You can have one single financial goal,
but it's got to be measurable. It's got to be something that you can know that you have achieved it. If you say I want to be rich, that's not a financial goal because we don't know I want to have X amount of money. It's a bit more direct. Put by a date. So have a financial goal and put a date to it. That's how we know you're best leader. Thank you for the information. Will invest with them? Plitate? Yes? Is it safe to invest in is it also safe
to invest in high risk investment in banks? Banks typically right, don't offer you high risk investments. Bank gives you the chance to deposit money if you are scared of putting in the bank, to put it only according to antic or every su protection right if you're that scared. If you put your money in the bank in Nigeria, you are covered up to five million. If you put your money in the bank in America, you're covered up to
two and fifty thousand. But bank deposits are always in short after that limit, so if you just put them in the bank, it's good. But we want to ask yourself when you put the money into the bank, is it giving you passive income, not savings account? Not correct account? But you want to invest with the bank, Like I said, deposits or something is treadable so you can end that passage income back to you. That's the point of past income.
A bio me, how you doing.
Let me take a question for me, Yes, Barby, go ahead, what's up? Okay?
So not a question really, And I've been doing some readings actually, and I think one of the most important things in actually defining discretionary and nondiscretionary views a hole. So defining wants from needs because a lot of people who actually more duty needs close ones, as in, you can't trade. What is your wants which is no important, you can live with us, and what is your need?
I agree? That's just yeah, come back again and that that once I need. It's a very very simplified way of saying discretionary and not discretionary. So if you want something that's going to be your discussionary. You know I want a Rolls Royce, Well that's discustionary, but I need to eat food that's non disprastionary. So Abby's excellent way of putting it in non financial tells your number three and number four very important because you build your budget
around puject defined as non discretionary and discretionary. Remember we've talked about two and three is your emergency fund. That's the emgency fund. Whatever you're putting number three has to be covered by your emergency phone. What I mean cover it means that you want to create a fund that you save two to three times whatever you put in number three. You do that before you invest. You don't
invest before doing your emergency fund. Your emergency phone comes first, before you invest Why, Because you can lose your job, forge get a new job and severe a month or two. If you go ahead and you invest without doing emergency fund, when you lose your job, you're forced to sell your investments to cover for lots of income.
First of all, building fun, even if it's one month before you.
Start to invest. Don't jump and invest without buildings. All right, guys, So I'm just gonna share, let me go toget Bank, call it high buy what's on your mind?
Hildo, Thanks so much for all in this space. I think it's such an amazing opportunity to tap into your your wealth of knowledge and really really appreciate that and appreciating time.
You're putting it into this. My question is, yes, we're planning.
Towards twenty five with the like hyper inflationary environment we.
Have now, I mean earlier on this year there was a.
Period where over a weekend my power as at the coast of my power went up by almost two hundred percent. So you know, like, what would you advise, what would you advise on the way to to plan for budgeting for next year? Like high should we think about it in terms of our budgeting for the non discretionary expenditure and all that.
So let's let's let's use that to turn into if you just guys, are just shared on my Twitter page now the how to do the budget?
You know I've gone into.
If you look at the Twitter page now bangla, you see we have your shared chapter to this set up my book how to set about traditional goals. I went out reve your last year's budget. So what you want to do? Great question, not just power. When you do a budget for the year in review, you are saying you're doing put to be five. You are saying I want to spend ten era on fuel, but you do you on the future. The future could have those for the cost of field is going to go up. So
look at that chat again. What you want to do is to budget, like I said, three to six months non excretion expenses in a separate account, three to six months non discretionary expenses. Fuel is going to be a non discretionary expense. So if you have an emergency fund and suddenly power went up, you had something that you had to firstophor tap into before you go back to
your budget, and you basically redo your entire budget. The cost of fuel increases, material it's material to your entire budget. That means they've got to do a new budget. The fatalment does subnational budget. You've got to do the same thing. You've got to go back to your budget, cut away some expenses and take more money and locate towards what you call a non discretionary expense. But remember, if you earn more from active it's also part of within our plan.
So the point I make is this, there are two ways to meet on foreseeing expenses. Number one is to plan ahead for them so you have more money in your non discussion expenses. But to call number three. Number two is you can go into debt, which we don't really like, but you have to do it. And then number then again you can say, okay, you want to then to try to increase your active or your passive
you understand. So three ways, three ways, or number one have more money in your in your emagency phone, number two borrow, borrow well, or number three you want to increase your Number one about which is your active or your passive income? Does that help her?
Yes?
It does, I really appreciate it. Yeah. Please Yeah.
The whole idea is to want to make everything automated. We don't want the guess work to go with it. We don't want to guess what to say. Oh, I'm gonna do this. I'm gonna automate everything. So if you are paying at thousand and are for diesel, it goes to five thousand. You can't end four thousand in a day. Nor can you just walk into a bank. If you don't have credit card, you can't just get four thousand.
So your emergency form becomes your first line of defense when you go there first of all and get the funds to.
Pay for the increase in diesel.
Why she didn't say how can I you do my budget or how can I anymore? That's gonna be how you're going to address that. So I've shared now create bank and hanging there if you want to put's say yeah, So I've shared now the financial health check on Twitter and it talks about review. So let's do the review for this year. Well, I'm gonna try. We're gonna review four. The first thing you want to do is look at your spending, and guys, it's on Twitter, it's also on YouTube.
You don't have the first page that's pay for the three on my book, let's talk about your money. It says, the first thing you do look at your spend did did you track expenses during the year? Do you know where all your any income went to? What were your three expense items? Did you identify them to reduce them? So you've got to start now for twenty five to answer these questions. Did you track your expenses? If you didn't, well, twenty five you've got to track every single cobo that
goes from your active on passive to be spent. You get to the book or an Excel sheet. Every single cobo that you spent, you write it down. You do it for ninety days. Write down your expenses. Then this mos down. Guys, write down your expenses. Then you cateicle rise those expenses. So if you write down went to mister Biggs, I bought ice cream, I bought suer I went to the club, all that is food. But what
category there's eating out? There's eating it. If you buy food in the grocery or you eat food outside, that's the categories you eat in eat out. Categorize then so number one, write down your expenses. Number two, categorize your expenses. That's the learning point from this first point there, look at your spending. Did you track expenses? So what you want to do the learing from number one point there is number one track all your expenses. Number two categoraries
your expenses. Why do you do this because when you categorize, that's when you can then apply in budget for each category. That's how you do a budget. So that's an example. I have five thousand ner that I spent. I write down exactly how I spend that five on era. I categorize food. I bought groceries for a thousand, but I et out for two thousand. I've categorized. Then when I do a budget in twenty five, I will then say
do I want to spend two thousand eating out? If I say no, I reduce two thousands to one thousand. Then where do I apply that extra one thousand? I can say, Okay, I'm gonna take it to play for my diesel because this has gone up. So you've got to be scientific about it. Write down the expenses. Every expense, you give drive, write it down, you give one to your girlfriend, write it down. You let's more money, write
it down every expense. Then categorize lots of apps to do it for you for free lots of apps for you for free. You categorize. Then when you do the budget. What a budget is is you are assigning figures to a category to be spent in the future. That's a budget. It's not complicated. So diesel expenses here, I spend ten thousand, I categorize that as utilities.
Next year, Am I going to spend more or less?
If I'm going to spend more maybe fifteen thousand, Where will the extra five thousand come from? You go back to your categories. Wow, I'm spending money on Suya, so sher money has got to go. We're going to go from Suya to diesel or you go to your income. Oh, I only work for forty hours this year, so I'm going to work for fifty hours so I can end more to eat Suya and buy diesel. It's all got to tie in. If you don't have a budget, you will simply do exactly what you've done. You take your
money from Suya to buy diesel. Because you don't have any budget, you still spend on Suya. Then you go into debt. Debt is the last, last, last thing I want to do, right, it's necessary. We want to keep it as a last resort. So that's your plan. Categorized expenses for record expenses, categoris expenses, assign numbers to your categories. That's your budget. So let's look at number two. What about your budget process. Did you set up a budget. I've just told you how to do a budget now,
so you will not do that for twenty five. Did you follow your budget? That's the hard part. Did you maintain a subplus budgets in the month? What months? Why did you have a subplus? Why did your income go down? You've got to ask those questions and answer them because you want to know why you made a subplus. Sometimes you could say, okay, I want to spend more money on on on I want to spend ten thousand on
utilities PMS. But to spend less did you spend less because you used the bus or because you could not afford to spend more. You've got to ask those questions, answer them, then you do your budget.
It's got to eat guys. You've got to full of do theology.
You can't guess it, you can't hope it, write it out, categorize it as sign a number, and then implement so number. So it's on a budget did your income go up? Did your expenses come down? It's asking why you.
Are able to meet your budget?
Did you need your budget because you end more, thus you are able to spend more, or did you cut down your spending thus you're able to keep your budget going? Asking that question to you, how did debt picture into your plan? Did this current YEA? Did you borrow to meet your budget? Or did you cut down expenses? Ask that question and answer it. Did your debt go up?
Did your debt come down? Favorit? Important questions because see what you What we're doing here is that we're asking this question because the answers tell you what to do in twenty five. If you are surviving on debt, what is happening with you? Words that first chance to assure you is that into the it's using your active and passive income to pay your discretion and discretion. You are borrowing.
You are bringing loans into your active income, and the loan is not income, right, So when you're bringing loan, you get cash, but you are also increasing your non discretionary expenses. If you borrow a thousand, it comes in as passive income, but it goes out as non discretionary expenses. But you're active is just coming in. It's only you. Any salary is coming. But when you borrow, it is two legged, right, so you can borrow short term to meet and knee and all.
The body member.
Borrowing is front loaded consumption. When you borrow today, you are front loading your consumption. So you we go back. Did your does go up and down? Imedn't? High content and balance sheet? So those two questions number one number two talk about your income and bringing death to show you how to do a budget. So let me go back to the sheriff. What's sheriff, Hey, sheriff, that's say man, queen. Let's that's the queen, queen, k how are you doing today?
Hi?
Hi, hi, call you.
Thank you so much for I'm doing great. Thank you so much for what's nice, and thank you for granting my mate.
Yeah, I really love this space because I have so many things I want to ask you for clarity, and I mean I would love to share it. And then probably when i'm all, when I'm freak and I ask you to.
Ask you, But I don't know if this time I should go ahead or.
Wait, that's a question you want?
Okay, Okay, thank you so much.
Okay, now, no about someone who.
Haven't handled a big amount of money. There's assume one hundred thousand like India currency a hundred thousand, and are someone I've posted that that.
I will handle this and it just landed due to probably what he or she's doing, and the money just land.
And the person you know at that point, there's these.
Spirits that you know, something you've not talked before, something you're not handled.
There's how you feel, like me personally, I feel things. I will feel like I want to go crazy. I feel like, you know, my head is big.
I don't know.
I feel like the money is bigger than me. I don't know. I'm just saying it because that's why I fulfilled.
And because of that, I will not be able to give accountability on how to spend the.
Money disting, and it's a problem. What will you advise such situation?
I ever, that's a great question, Quinn. Great question because it happens to everybody on earth, everybody. The first time I made quote unquote big money, I made millions. I didn't expect it. Someone I wanted to buy something I knew someone that was selling. I just brought them together. I got a commission. I had no idea I was going to mix that much money in my life. Do you know how I spent it. I went to London, I went to safages. I bought couchie slippers, I bought designer clothes.
I write, I know, I enjoyed.
And this is why I do these things is because I'm talking my experience. Let nobody fo you. We are all emotional. Humans are emotional. We like to spend, we'd like to look good, want to show. But experience is the best teacher, not your experience. My experience never learned from your experience. Learn from the experience of those that I told you, Hey, we've done that, been there, it's
not worth it. So the way you want to treat a windfall income is first of all, you just lock it away first and first we have to change your mind, not your money, your mind. The book, the book I wrote right, the second chapter is behavior of finance. I put that in there for a reason. So if you can't change your behavior, you can change your with your own money. Money is the spirit if you if you respect money, it stays. If you just respect it, it
goes away. So when you get money, the very very first you will do if you is to keep that money where you can't touch it well, and then think about here, what should I do about it? So you figures one hundred thousand er, Well, if you're in America, you buy your setingle deposit for say three months, women say next three months, you can't touch it. If an ijual you put in a physics posit so you can, so you can take time to exhale to see, Okay,
what should I do? The One of the best ways to spend money is to pay down your debt, because if you pay down your debt, you can I regretted, right, it's when you pay down your dad.
That's one hundred percent return on capital.
So even if you don't know you have to spend money, you don't trust yourself, ask yourself, am I got any body? Yes? Go pay them, But it's not the best way, right. I would prefer that if you have into the budget and you have done this and you get to a hundred thousand, where would you put it? You know, there's active income, there's passive income, there's expenses, there's emergency fund. Where would I put this money? I'll put it green in my passive income. So if I buy something, the
capital has gone away. So all our good guy's going to be returns, dibidends, returns if I spend it dibidends. Okay, I've enjoyed, but I still have my capital. So if I take my capital put the bank in Nigeria, Natia would pay you nearly tenty percent. So if you put a one hundred thousand in the bank, Nigeria will give you nearly thirty thousand. Okay, you even if you spend that thousand, if only spent one year's return. So but you've not touched your principle. So if you use my style,
put the money in your passive income. So if there is a persily income for you, if you don't trust yourself, go and pay on the debt or lock the money away. But whatever you do, you've got to have a plan. And you can only have a plan if you have a budget. You can't walk your way into it and say when I get the time, I will do it. No, no, no, If you're not prepared, the money will go. So Quini, the only way you can find that spiritized making you spend money is not to have the money at all.
If you ad income, do automatic investment into investment hotels. If you if you are if I go to get big money, already spend money, right you tell your bank and money is coming. Take this money and buy this for me, so the MOE doesn't come to you. But give yourself a chance to spend. Take ten percent and blow it's no problem. Take ten percent go haywire or ninety percent invested. Where humans we're not robots. We want
to enjoy it, not to enjoy it. But take out ten percent for a few money they're don't blow it in the vertility of passive income, so that it's there for you year in, year out. Does that help quick?
Yeah?
That is very very helpful.
But on the other hand, I've we talked about this in disgree It's gonna.
Be funny bad. But I'm being.
Real right, I'm not trying to make it look like, yeah, I'm being viewed now.
You know some people will say if you put the money there, you know.
You're appertun needs and probably you die.
Is some clean It's only some clean. I enjoy it.
I mean it's a great Again, Quinn, you're asking a very very great question.
Look at it this way.
What if you don't die and you get to sixty years old and you have no house, you have no income, you have no money for medicals. What happened then? So remember that I want to put the first chap up with the one to five. You are. You are investing money to create passive income for yourself, not for your next of kin, for yourself. If you when you right, and I'm not sure how you old you are, but you're live very young, you have to you have years
that you're going to work. Where you work, You've got to compound your income so that you have income flow for you when you stop working. So think about that, that it's not just investing for your next of kin, but for yourself when you are sixty, even if you want to work and you are more responsible, can you still have that strength to wake up, get to traffic, and go do a job. In your active work, It's
easy to do passive income. So look at it that way, that whatever you are investing, it's for you to end passive income down the line. Again, take ten percent, blow your ten percent, but try to invest that eight or nineteen percent. So I egene risk pacific income for you. Remember what I'm saying I'm saying, even if you spend the passive income, I'm not mad at you. But if you spend the principal, yeah, I'm mad at you. Right, So that's what I'm.
Going to quick look at that principal and interest.
If you don't trust yourself, Okay, I agree, spend the spend the returns, but that principle please invested that we are friends? Is that okay? Yeah? All right?
All right, welcome, Thank you so much.
You're very very welcome. Man. How are you doing, sir? I'm doing very well. It was excellent, and thanks for asking. Do you have a question of mine?
No, actually, I'm just doing this is.
Excellent, just hanging there for us. All right, So now let's yeah, now, let's go back to our charts for number three. Number three is asking you look at the current network network. Remember talked about income expenses. We've talked about budgets, music fund now we're talking about network. Income is not the same thing as network. So if I end a million IRA, it does not mean I am worth a MILLIONNRA. It doesn't I have to convert my one million IRA to passive income. That's only when I
am what's a million? So the question is asking you look up your current network. Do you have a schedule of your assets and liability? So I'm asking you guys, now, do you have anywhere on the internet and excelsily do you have listed every asset you have, your as no jesse, your landing away, your car with the bin number. Do you have any place where you have detailed all your assets and your liabilities on an sell sheet away? You have to do that right. It's also asking you do
you have so your assets and liabilities? Divide your assets and your liabilities? When you do your your what you own and what you own divided income generating assets on one side, none incommuting assets on the other side.
So what do I mean If you own a.
Car, is that car an asset or a liability? A countdown to stay that the car is an asset, but it is correct if the car if you spend more money on the car than you earn, that car is the liability. So you want to divide in your asset column, divide into assets that give you money and asset that takes your money from you incomputating assets non incompletent assets, centering of your liabilities. You want to say are you paying debts on that liability or not paying debt? Got
this way? If your father gives you money, that shes you money and it says you're oil meal, Yes, he only expected to bring him back with print upon him, and I expect you to bring him back with interest. So that's a liability, but it's not interest generated.
Right.
Samely, if you work for a cooperative right conrectly could say well, I'm gonna give you money at low interest of me two percent, it's a liability, but very very low liability.
Right.
So you want to divide your assets and your liabilities into interest bearing and interest bearing income cost and interest cost. I want to ask yourself some questions. Are you reach out today? What is rich? Riaches that your assets and one of your liabilities. You want to ask yourself, how did you levage your networks? If you are rich, what did you do about it? Did you take more ass as and invest to make more passively income on line? Right?
How did you create multiple streams of income? Are you only learning from one source and that's wants us identity your assets? So number three is asking you not to look at your assets your liabilities to divide them into wards they are and watch your pain out and to ask yourself are you insulated from one multiple source of income or two? So number one is to turn about your expenses, right what are your expenses? Are you tracking them? And a number two is showing you how to budget.
So it's saying put your income and expense it into a budget asset. Don't go into a budget, welcome into a budget. Is your income and your expenses. The number three now is telling you to bring it together and talk about your networds. Your netflods contain your assets and your labilities. Right, perfect, That's be a huge question to me here, let's get the I've got son of David, is that you know the story behind Nija? How are you doing?
That?
Wasn't minded?
So thank you very much.
This is the first time I'm giving an opportunity to ask the question here.
Really interest and thank you very much.
I wanted to ask if you're running a business but currently it's not Nigeria.
Uh, you're using a different currency.
But you can be able to transford in to your local currency without having much text on it.
Then which one the advice is it? One advice to save your emergency income to your local currency? Or the currency on the particular list. So that's my question.
Let's let's lets let's make it. So let's see I work, I work for you company. You can complete build me pounds, right, and I spend money in Nigeria. Right for this specific case, I'll always keep my money in the foreign currency. Why less inflation. So that's an inflational question. If you have the opportunity to end only in a foreign currency or the local currency, I would always advise you hold the
foreign currency because of information. Right, then you can always do your caucus and say, okay, what's the exchange rate? The extendustries is one to one hundred, so I keep one pound part one hundred NR. But I still maintain the numerical value of the emgency fund. But I simply hold the funds in that's foreign currency and not nive because the Nira.
Would depreciate faster.
So I have to keep on maintaining my my emency fund every years to keep on going up and up. But if I hund it ten dollars of pounds, the infinite is less on dollar pounds, so I don't have to keep on putting money into It's a great question because the best way. You don't take your emergency fund. Are you invested? No, you're not supposed to take relacy phone and buy shares. It has to be cash or near cash your emagency fund. It's going to be cash on your cash with me that if you hold cash
in Iran, look you don't want education. So I always recommend if you have the opportunity, if you're blessed and you have that income holding in the foreign currency. Does that makes sense? Yeah? Perfect, Okay, let me get are your all back? Are you how are you doing? What's in your mind? I? Are you alone?
Back?
Yeah?
Thank you so much.
You're gonna hear you go ahead, Oh, thank.
You so much.
Just to come. What's my night is simple? What have you been when I?
Where was this meeting?
When I just got my job last years?
Where was this meeting?
Like?
Because I kind of come from the background where we didn't really have enough of this financial detric I know that my my story is not that unique.
You know, when you grow up in the home where.
You have seen your parents survive on the grace of God, like God to provide.
So you kind of grew up to have that mentality.
So I think when I got my job in a Bunja.
Last two years, I made a lot of them mistake unconsciously, unclously and towards this.
Towards this I think November.
Yeah, towards this November I learned the hard way a mental conference and some mentors and exactly all the things you were saying.
Well the things day told me that you have a body, and.
You have planned, you have control over your money.
So maybe I saw this clating immediately because to them.
And so far it has been my situation.
Are due to.
My recorless experience. I end Overhundka.
Working on research and policy analysts.
Well, at the end of the year, I wasn't a negative.
Okay, and yeah this so right now and I don't.
Know, okay, I have some information the knowledge.
Can I need to budget this non discussionary and need to have them sort discussionary?
How does one I mean uncle.
From here to paying up the legative?
Yeah, so.
Have using up or have using up like it's safe like you called it like I got you stop stop from the favorite the beginning. Likewise they stop from the beginning. So were you here when I share that chat that talks about how you do one number one or before that chart I shared.
Your I don't make your friends.
So start start from there.
Go go back and an excel ship list out your income list, start your active income. Do you have any passive income right now?
No?
No, no, no. So now you have only active income, you are missing pacific or what means you can't retire? That's what it means, you can't retire. So number one thing you sorry, no retire is not an age ream just means when your passive income can pay your non discretion expense, then you can so. So first of all, you have your active income. You want to say, okay, I can share it on YouTube if you're on YouTube, I will
share it if you reach charity, but on Twitter. Not really, you want to take an amount, even if it's ten percent, even if it's five percent. Once you end your income, pay yourself first. Take that money and putting your passive income pacificcome here means that you are invest into something I want to take today. But you talk to more
really in ten years time. So you can't say, for instance, I want to buy in which was fund in Nigeria, or I want to use those apps and buy in which was fund in America ten percent, five percent, It doesn't matter what much is the consistency. So you eard one hundred thousand, take out ten thousand and invest immediately.
That's your passive income. You do that.
Your look of now from that active income you have, you not have ninety. You look at your nondiscretionary and discretionary. Your debt is under nondiscretionary. It means you must pay that debt. There's debt management strategies separate from it. When your budget it's a stress percentagy on debt. I think we're going to talk about debt somewhere on this channel. I will show you how to get out of debt.
You don't do snowball or you do avalanche metal. You basically say you want to attack that debt and pay off the principle. It can be a four year, three year, two year, doesn't matter, but you want to pay off the principle with means. When they give you a loan, you never want to pay interest. You want to pay more to the principle. So you kield that debt of faster witness for now. If you drop up your budget, are your your passive income cannot pay your non discretionary
your total income. Can your total income cover your debt and your non discussion expenses question for you? So like what I'm asking is without you, without the where you end money, can you pay your loan.
Off and also pay your expenses?
No?
No, I only do.
So your problem is really your income.
So you have an income problem. That's why I think the problem is because if your your income has got to pay at least your your to service your debt and your expenses. If it can't do that, then you don't have to go And further, you have an income problem on top because you can't change the debt and you bost eat food, so we can't tell you don't eat food pay the debt. You've got to go back to your income side and grow that income based that's what thing to do. Get a second job, get a
side gig, but you've got to grow that debt. If you take if you can refinance your debt, that helps. But you've got to focus on the income so you can pay at least one of your debts or your expenses. Because if your dad can't pay a few not I need to talk about your expenses. So you're non discretionary and you want to forgotten that and I can give you if you go on you see my name go with w calu at dot org. If you go to that site, you will see an excel shit that have
that you can't use. It is for free. You can plug in your fucause you'll show you exactly what I want you to do to show you how much you are making where you are negative. And you can actually use that chat to reprogram your income. So if you go to the website, yeah does callo at dot org, you'll see let me go. You see it's called financial calculator. Yeah, you can use our cabin and so plug us in and if you give you something. But can you have an income problem? Know that helps.
Thank you so much.
That's what I'm watching on that. And even if you can't raise your income, you've got to try to pay that debt of the principle. Have to put that principle of very important. Right, I appreciate you coming. Just if you got to financial if you go to that website Calua dot org, you click on financial calculator, right, it will you're basically log in. You can create something there. You can see your main website, your income and expenses.
You can's automatic when you're plugging your income is calculating things for you. Just go in and you're plugging your expensive to video to carpuse lots of stuff for you. Yeah, so try to use that guy, yea perfect Yeah, let me know you. Let me know so that I've got your I've got greatics, great great X on the score posts. I can hear you pray.
What's your fine?
Friends?
Mindy said, I don't know if I should remember that I discussing fact.
I don't have to.
Organize issue.
I say about currently now we have unemployment quote unquote four point but between the first we know that we have a lot of you throw around their mid days in their forties on the air twenty those two investing without a big job, without any ECO or really mating X with some of them with the pere and let's you say, job which we know after around here or.
Two years off. And these people are going to grow up to fort these fifties and sixties with.
Little and new income, little new skill, putting their spaces for that it's waiting for them. So what advice do
you have for those people? Because now we don't know the ship that's like there is, and we don't know what things will been around ten or twenty or fifty early eighties, and there these people will be in your forties and sisters and will have to even if things get better, you have to compete with people if there are twenties and thirties with the same skill that is required for that time all day with give lesser skills.
So what I think you do? You understand the question what issould have tried to and.
You said that if you're like you a disadvantage to folks, and thought I mean.
Is saying no, no, I'm not even comparing that you are. The folks are broad and that's another issue. What I'm saying is that now you have Beyon.
In his staties. Roman has the streets.
Nothing, gold on, nothing ending pin or so ending nothing.
He's going to become forty fifty.
Very still, and by that time he has little or nothing booty and skill, and the siblings so far back to and let's even as utiens get better in that time, let's say twenty ye is time, and their jobs everywhere with aun employment that you know, when.
You're four percent.
Of what it is now we've got more about he will have to compete at that time with people of twenties and tenties.
We skilled for that time, but with age to side skill, not the side service, not design.
So what advice do you have for people now that are in this position now so that you can be in a better position in ten twenty years time?
So you know, right, let's in finacial planet.
We have this method have to use right that says that the older you are you have more assets.
Than the younger you are. Young, the younger you are, you.
Have more income and less assets. I was just here ends and income.
We want to sorry, sorry, but we want to know that now at.
The rate we are going as initial in.
Nigeria, that's metrix will soon be done on this head you know.
You know, you know what I mean explained.
So what I'm saying is that you have to when you're a young person, whatever income you get, you got to buy assets today. You've got to buy access today. Let me tell you a story. While I was in university, the class the guy above me that left Nigeria, he was like I was in year one, he was in year four. He was more the first half of zen it Bag back then, Lucky phase Ley roundabout was Lucky one. There was no Lecky Toley three. He bought land in
leky two and he left Nigeria for ten years. When it came up to Nigeria, somewhere offered him one billion dollars for that same line he brought when he bought lange or swamp. So when you are younger, you've got to buy assets that are going to generate a income for you tomorrow. You can't compete in the quali. You can't compete to buy stocks. You've got to try to use your money to make the largest impact for you
sore down the line. If you have bought those assets, just appraising late and allow you to then invest.
If you wait, you make money.
You will never buy any as in legal state or a budja or protacle, or you will let You've got to when you are younger, going to debt to buy an asset so that when you are older you have that asset with now income to invest.
There is the same This thing you are saying is the same in America.
If you are younger, you are seeking to grow up and completely the younger folks at any money in tech that would be any more than you. But time makes your money compound. Time makes your assets compound. If you buy a property, if you buy a raw land in one village twenty years ago this year, that's really rewors more and that's your advantage ATTA that time has compounded as.
An investment over the years.
If you wait, they of course you are competing, like what you're saying, and you can live up in them because you have more income than you.
You're very college. What you need now is you I think you.
Are much You're much older than me, so I would say I'm a bit closer.
Too than you. Challenge.
The people in this.
Age bracket now are fighting to stare life not able to invest. Everything they have now is target just awards being a life not to invest. They have not invested in anything right now and they're.
Literally nothing to appreciate it too.
I can't and that's why. And that's the point.
Yeah, yeah, right, there's no And that's the point I make right that.
The folks that are going to be rich in twenty years time are the folks today.
As I invest in, it's not.
Going to change.
I'm not care to.
I can't answer that could Like I know you're asking, you say, people can't invest.
What people are.
You can still buy your phone, people can still buy clothes. I mean, it's your call. What I'm telling you is simple. Folks that invest today, I'm going to be the folks in twenty years that I do to be in middle class in this bad period. This but when it is a bad period, that's why you invest. If Nigeria is good, then prices are gonna go high. You can't buy anything. If Nigeria is bad, everything is at a discount. The folks that if you can't buy legals go to Abia, go to your b and buy land.
So you want to leave probe going to go are and when they.
Can have value. If you cannot go to your village, if you say things that have in legals, go back to your play and open up the school. There are many kids in your village that needs education. You aredea educated, Go at your village and in an income let them. They just pay you with yam, take the yam and sell to the township. You've got to use your education
to get ahead. And I know all the answers, but the point I'm making is the folks that are going to see a middle class in twenty years time when we ask them what they're gonna say. Wow, when things were bad, I have an identity do pure water? So used to buy what in the bottle in that long bag and I sled it for one cover. Yeah, it is those folks that discovered the way to make money in a down market. That don't put me the years in twenty
years time. I don't know which what they will do, but you and I will see them and would they will say yes? This will we didn't I answer the question?
Yeah, yeah, okay that that is at.
The end of every depression that Microsoft Clare started in a pregnant and recession. I believe, yeah so, I mean yeah so yeah so again, lots of questions. Can you take a question and I five will go out to the books. I think I don't even think we're gonna have time. You can just go go ahead, let me let me hear a question. Gretics put that great question. Thank you because you hi, you man London Claire.
Who outside I won't see it's a very great opportunity. I don't know how you do have this. I know a lot of people pay for what we are getting now for free. I don't know how often you can be doing this because I have a million concious to ask, but I just cut them down to you.
Okay, So I would I would.
Say as a business person, I'm actually I'm a salesman now for a farm, a sleeple company. So let's say you have money. You have, there's a lot of turnover from the little you do some kind of things. And then let's as a business person now in that guys, who would you advise for someone that has Let's say, if you put them money into what you are.
Doing as a sales person, they.
Can give you more turnover, probably faster than you having let's say, for instance, you have like a million in this time the money market, you're all the different things you have not to have fun and the rest.
Of them, and then louding over time with.
That, and then having that as what would I say in the money market to generate money for you?
Is it that's what you talked about?
Yeah?
I think I question you can remember that when people get to.
Okay, go ahead, all right, So.
Second deser, what would you actually advisor? This is second question? What would you advise in this time? Do you you have actually answer that? In the course of what you've talked, you've talked about the last speaker this question no investment in lands. Now as a person, I am side by side with fixed deposits because when I was much younger, I used to have a fixed the posit account, investment
in lands and fixed deposits. And then lastly, sorry, I'm Marxai so many but I just try to make it as the not Lastly, somebody in the basic say, let's say two hundred thousand. Now, yeah, sometimes you can't have other literally to gage some other things. That just got those within the same business side some other side things.
What do you think about building easy a good idea? Now? Okay, so okay, So number one, whatever you do if you look at if you go back to when we start off with the chat, that actually has passion income and active income, you must do that even if you work for yourself, even if you work for someone, because your income is not your asset. You are not rich because you make money. You have income. You are rich because
you have assets more than liabilities. So when you have let's say you have a shop on a chair, you bring in one million revenue, that woman, a revenue is not your wealth. It's turnover your job. What I'm saying to take that turnover and converts to passive income. We mean you take ten percent of that turnover. You buy land, you buy stocks, you buy fixed income, you buy property, whatever you want to do. You want to convert that shop money to passive income because you can't be at
the shop forever. Now, what are your expenses? Not your shop expenses, so your own personal expenses. You have school fees, you have holiday in Germany, you have car, you have diesel. Those are you have to critical writers expenses? I did discretionary like I did, like it wants or I didn't know discretionary as they need you. Then take that income, that's income you are making that you are tend to passive income. Your goal is that the passive income can
pay your personal lifestyle and support your personal lifestyle. Once your passive income be your renter, your dividends can support your personal lifestyle. You have your riage, you can retire, you are rage. You don't looking depending on just one sort of income from your store. So that's what I'm saying to answer your first question, Yes, you must convert your income to assets. It's only when you have assets that you are rich. Income is not the same thing
as world number one number. You're asking about revirement, it's about property. You actually by property your own.
Yes, I'm talking about investments in lands as again talking about your fix out there, investments and lands now.
And so you ask yourself like I said, when you do your assets, you divide your assets into two income generating non income generating. Land is not going to pay you any income. Fix the persons will pay you income, but fixed the posits does not grow as fast as inflation. Land may grow as fast as inflation. So buy two of them. Buy two of them if you can afford it. Buy why you buy one buy the land to the fix the fixing post is just to pack money, it's not.
So you're not going to say you want to invest in fixing for ever of your life. You're packing one in the fixed polity to buy an asset that generates income for you. Land is not going to give you any income, but it's an asset. We want you to invest in assets that give you income, passive income. That's what you want. You can buy land, that's fine, it's an asset.
It won't pay you income.
That's fine, But we also want you to buy assets that give you income. So buy two of them. There's no difference in the land or fixed income. But you want to ask the fruit question, do you need the liquidity. If you need liquidity, then you want to do the fixed deposit than the land. So again the first positive posse, what is your long term objective? If your long term objective is just two years, then do fix the posit. But if you have thirty years to spend, please buy
the land. So the answer to your question depends on what your own objective is. If you have to invest for twenty years by land, if you don't invest for two.
To three years to fix the posit, what's the last question?
Again?
Okay, the long last question is put someone like you're saying is in two thousand as physics. Now, what do you think about building now?
And is it a good idea? Of course it's a good idea. If you can't deal with because you are a review on expense, you are revealing perhaps the last expert you have, which is your rector. So if you can't convert your autorial town into a house, a house becomes either passive income or an experts reduction program.
So it's a very good idea.
If you live anywhere and you can afford to build your own home, Please do it build for when I mean built for yourself. So I say, okay, I'm not paying rent. I don't know about building it about the build for investment. That's professional. You have to build a GOTO location. But if you're building where you will live, you can't go wrong with that because you're not going to pay rent. So on your chart you've converted income
to passive or income to reduction in not discussion. Expect that's what you get when you build your own house. So it's a very good idea if you can afford it. Cause you go thanks to that question. Yeah, let me get abd Allah that he will rob you.
We're not gonna I.
I thank you very much, Big.
It came at the very.
Time of need. I have a question with regards to myself.
I'm a businessman, and the kind of business I do is kind of an informat system I do.
I'm a BIDC guy, but in the infoma.
So making money from our only end is not a promise at end of the at the end of the month, you can see this is a projected income, something that comes. I don't understand I'm starting where where I'm trying to come from you. I said, I'm a BIDC guy, but not.
Be I'm not actually like that.
I hear you. I hear.
So.
Our income is kind of predicted.
Yes, yes, it's own predicted.
So for me to say, with the capture of let's see to crimlionaire two hundred thousand, they're appropriate at end of the.
Month is not a promise.
I see, I say, I gotta come.
From so so.
So in this case, what what would be your argument? Because I really I am in need of a s.
Okay, I'm like what I think. I get you a question, say, very very great question. So what a foot about folks that don't end months by month? Sometimes I end one million, then ten thousand thousand. It's irregular. Okay, I get your point. Asked a great question. So what we need to do. I'd like to say we can use two methods. We can use a percentage method, or we can do a
salary method. Percentage method or salary method. Percentage means you adopt a percentage and say any to anything that I make, I am going to save ten percent of of it. So if I make one million, I say, I save that. End of story. You got what I'm saying. So whatever, once I make yeah, once I make one percent, once I make ten thousand, I do a percentage and I say it into my soul. I take that money, I take that savings, then I take it as my income.
That's number one.
Number two to say, I want to basically take all that money right and pay myself a salary, which means if I make one million, I pay myself one hundred and nine salary, then one million goes to If just putting an account, I only take one hundred thousand next month, I take one hundred thousand. If I don't have any money, I don't pay myself a salary.
So I'm making that.
I'm only going to end that salary. If it's for four months, so be it. But I have a salary. But the best applies to combine both of them. You can say, okay, I'm going to pay myself a salary of ex amount, and it's going to be.
Funded from ten percent of my endings.
So every time you make money, any time money touches your hand, you take that cent percent of twenty percent and you pay to your fund. The rest goes back to your business. That's your salary. You plan with that salary, So that's a salary Uniza. Is you're active or pative, then you don't invest it. The other money is the money that you're going to keep in your for your business. You know what I'm saying, in your business to grow your business. If you don't pay alself a salary, you're
not separated the business for yourself. And then one day you're gonna need to buy a house, and then you will have that money to buy the house.
So it's still what I'm saying.
Yeah, so you need to separate that come and then do it that way, and that would help it. That's what That's what I recommend that you try to do.
You and I will definitely keep you posted on the progress.
I would like that let me know how it goes if you are meant it, because like I said, yeah, let me know how we goes, and I we're gonna see what we're gonna do. Yeah, all right, we are must even gotten into the generally your financial plan.
Then we repeat you guys, what I want you guys.
To do for January.
Number one, Please write it down.
Number one. You want to track all your expenses. You want to track all your expenses. You want to track every single expense that you make. You want to track it. That's number one. Number two, you want to categorize your expenses. You want to categorize your expenses. So when you track your expenses, you then be able to category. You spend money on engine, oil, patrol, car ward, that's all KI expensive. Categorizing mask KI expenses. Number three, you want to allocate
and amount nine a month to each category. So you track your categorize, you allocate. That's a budget. So when you look at your budget, you don't ask yourself is this to realistic?
Don't forget your.
Din, your expenses and also your income. Same thing with your income. What sort of income are going to make it into the five? Is it from your salary? Is it from your passive? Is it from your investment? We had the guy head that we talked about. His promise is income what's not enough. So your budget for this community is to grow your income. You want to grow that income either make it to turn into jobs or go to act your company for a raise, or investing
more getting more money to investment income. You've got to also bullish for your income, so you bullet your income. You burnt your expenses, You track, you categorize, you allocate, then you keep on adjusting. If they change something, you also adjust. That's what if to change something you adjusting means that in the change fuel becomes more expensive, then you also adjust. Right, That's what I'm asking to do. That's what you want to do this year. I will try to do as much as you can on that.
A lots of questions. So were the big ee was my biggie biggie? Peace ahead? Hello? Can you believe in you? Go ahead?
Yeah?
First of all, thank you so much for the investments, in fact impartings for so much knowledge.
Thank you so much.
Now this is my question. I have a couple of questions, but I'm trying to just see how I can streamlize it.
One of it is for where do you categorize.
Donations or offerings or something in religious or something?
How is he an expense?
It is an expense.
Where do you categorize?
It's your's you, it's your columns, it's your call. If you say the giving tights, it's.
In the Bible.
But this mine the book of finance. So if you say that giving tights is a non discussion experense and that's what you're believe in, then do it.
Then do it.
So if you decide what is discretionary, I'm a discretionary you would decide if you say this, then you do it that way.
Okay, okay, thanks for that.
And secondly, for situations where were before maybe changing government, you actually veiled to your aiming so much because you were saving and during an investment, what was sudden another you change your government, you notice the way you are actually.
In how do you actually come up from that.
So much before?
Now now it's looking as if there's actually.
Nothing become inflation or work specific yes.
Completion, yes, and when you aim was so much of value and it's no longer.
And even the investments you did actually nowhere.
Yeah.
And that's that's my way.
That's why we have that's what we're doing.
We're doing today because every plant like that, there's a there's a philosopher cause Mike Tyson, Mike Titans. Mike Tisans said every plan, everybody has a plan until they are punched in the mouth. So we all have plans, we will all want to invest, but then the government comes. Like fell I said, government has a second tier everything tier two pieces. So what you want to do is to have a budget or a plan so you can you can absorb on certainty and relate in a formal way.
That's what we're doing today. So what I'm saying is this right. If you have plan to invest and you investment are rubbish? What do you think happens on your budget? If your income has gone down? So you want to ask yourself what expense items do I take off or what income items do I bring in to balance that budget. Remember, you can have a deficit budget. We miss.
You can borrow money. You can borrow money.
But if you are borrowing money, let I want to go to your non discretionary or to your passive income. Because if you borrow money, for a discussion, expert, you are digging the whole that you do not get out of. Again, borrow money, borrow money that would create things that will create income for you. So if you are borrowing, you want to invest in an income charging asset, not to eat use your income to eat.
If you are borrowing, you are borrowing.
Because you want to borrow and invest in an income generated asset that will generate income for you to build that loan but your questions are the reason why we're here is because every plan we have disappears, it goes up in influenced. So we want to try at least to have a systematic way to manage risk, manage change.
And to see what we're doing right and what we're doing wrong. Does that help a bit?
I think I loved to victim. I yeah, bigger, Okay, is that what you want to ask? I appreciate you, bigure, we get up.
Yeah, thanks, cal look, thanks for what you do.
My financial education has no an in large PATTINU.
So never tell what you do for granted, thank you.
I'm keep be saying, do you take something.
About emergency food should be cash or near cash?
Yes, it's something that's so while you say who puts in your.
Mouth is set in your mounts three or six times for what you're saying, any savings, I.
Can't really surprise.
Yes, So when you do your let's let's go back when we had our our one to five five charts, we said, your emergency fund is covering what you call your non discretionary expenses. So yes, so that's going to be your brandt your food on that right, So what we're let me meet this guy.
So what we're saying is that.
Your your emergency fund should cover back three to six months of what advice is done non discussion your buckets. If that whole bucket comes to one million, then your medenity fund should be tweeted to two to six million. And I'm saying you don't have to wait until you have six billion, but at least have one million there before you start to invest. It's very very important. If
you can't have an relenity fund, you can't invest. I say it again, if you don't have an amenity fund, don't you need to jump to invest because what will happen is that they're going to eat that relassy fund to combat expenses. You should be in cash on the air cash with mess. You don't take that fund and buy stocks, it's going to be cash on the air cash. Yeah. Details that help, Yeah, it does.
Grateful question your answer would you think on.
From the point of view.
You kind of based on Nigerians situation, we're not really exposed to to buy a long time, so many people are kind of kept at first because it carry back.
Also from the points of.
Your is it is it?
More so?
I don't know what you take it like.
A for property, right, let's talk about nineteen property. I don't think Nigeria has the mortgages. There are loans to buy a house. But in Nigeria after the mortgage, mortgage is supposed to be long term. You can do more things to mortgage and Nageria house. Let's just says things that would only have more in the ninety But if
you build a home, it's an investment. If you live in that home, then it's never going to be a with money because what you are doing is that you are reducing your expenses on red So what you have does you're taking your income, your active income and you have competed passing the income by building your.
House because you are living in that house.
Right, So it's always going to be a positive investment if you live in that house. Where it becomes complicated as if you're building a house to rent out for somebody. Rental yields are very very low.
If you what is what is yield?
Yield is what you get divided by what you spend. So if I build a house in Lucky, I buy the land for one hundred million, I build a house for fifty million, So my total cost is one hundred and fifty million, and I get from the rent of that guy ten million. What is ten developed? A one untien million? Who can do that?
Ten? What's ten develo? One apt million? Victor divided?
Please? Ten development atwo million? What's that?
Which sharp out to us?
Victor? Was the answer? Victor? So yeah? Fifty no, no, no no no ten rental annual income annual rental ten then more than fifty million is worth?
Tell that is for fifteen years?
No no, no, yeah, no no no.
I'm saying for one year. You make income for one year.
The rector for one year is two million. Divide that ten by the cost of the house one fifty. What do you get? What's the answer?
Six?
So zero point six?
Are you sure? Tell you a million? I will do myself for zero?
Okay? So multiplier zero point zero six times one hundred? What do you get?
What do you get?
Six?
Six?
So that's that's the rental income, that's the rental deal for that year.
It's very very low.
So the point that means that when you has to build a house, you're getting very very low rental yield. The property will appreciate in price. The property will become two billion, but the rental yield is very very small. If you put that money into a bank or whatever, you make more money. You get what I'm side to see what I'm going to with that. You make more money than you so so if you live in the
house yourself, right, you make more money. But if you are simply what's the word trand to invest in property, I'm saying to be very careful, that's the point I'm making because you might think you have an asset, but it's reliability because you're not making you invest in the whole nied on naira and you're ending six percent. If you put that cell on the bank, you end tenty percent. So be careful to do that capustion. And it's a relative here with that campush on property exactly what you're
in before you invest. But if you're donn live in the house, all coms up for you.
Right, yeah, thank you so good? Perfect equal relators. What's in your mindsel? How are you doing.
There? Relatives?
Yeah, believe it's.
Doing a very good job.
Thanks for being so.
My question is I think the last speaker I answered one of my questions because you know I have a property broker.
Our income is not steady, you know, it's it's fluctuating. It comes in taminently.
It's hard for you to put maybe like five millions.
Together at the time, but you can get it.
You can get more than five million over a period of maybe like three.
Months, six months one things like that. So for me, what I do is that I stay in the suburb of.
Leaders, I stay at actually stay included. You're going to do has a low the stand of living and the cost of living is low. You haven't you have a good stand of living there, but the cost is law so which enable me to pull my fund into other investment, mostly properties.
So when I get this, this proceeds so.
Immediately I just the issue of my emergency funds. I the moment I remove my feeding, my rent out, defeats for my children and things like that.
I don't really have much savings like that. I hardly have savies of like maybe on Drea Ki or what we think.
What I do mostly is that the wmen I get my proceed from my business.
I put it into the properties.
But that's exactly what you said earlier. That's the yield for n is.
Very very low because my first project cost me close to like eighty million, and I'm getting the protein for rents day is like maybe.
Like self fifty thousand paranor.
But and you still have to consider the cost of maintaining repainting the property like once in two or thirty years in some small things.
And so basically what I'm just saying the essays is.
That for properties is cantatasive to face.
So the second project costly close to like tenty five million, and I'm not sure I will get to that. I will get more at one point five or one point six million for red.
So what I want to react is that of what is after? Is there any other investment.
I can put my mind to that can.
Give me better proceeds? What?
What?
What?
What?
What?
What? I'm there yet when I want to talking about where, I want to talk about just the process, the structure. Next Sunday, olive Next Sunday, we'll talk about where you can invest they want to do passively? Where should you do that passively?
Because I get a question, is it's fine?
But for now we're trying to talk to people to say we're in the same party before how approtunity five?
And I'm saying the first thing you want to do do with you.
That's shared.
If you look at the I've shared.
What question should I yourself for your income, yours, your assets and your networth? If you follow, I also ask a question there on your retirements. So we want to do that first. Then once we get through that, we'll then come back and say, okay, if we have to invest during the five what sectors? How shouldn't ask a location? So then invest? But the person that I want to do and it depends what you do. Number one, list out your expenses.
Number two.
Categorize, and number three allocate an amount to each envelop and say this how much I'm going to spend and they want to track that down the line. Right if you go to number four. In number four, I'm talking about your retirement plan. While I'm bring a retirement plan as the first plan, your most important financial objective is your retirement is not to build a house, it's not
to invest, it's your retirement. Why because your retirement time pound you only have a certain amount of periods you can compound.
Let me explain, as Einstein said.
Compoundings easy one of the world. Compounding works with time. Compounding works with time, I'm going to show something in that book as well. If you miss out on compounding, you've missed out on timing. So if you wait, if you wait and say I'm going to invest tomorrow, you've lost one extra day of compounding. What this means is that you must start to invest, Ellie, and then you are the best place to invest is in your retirement savings account. Why it grows tax free, it compounds, It
grows tax free. It compounds. Yes, so you want to basically start to make sure that you are investing.
According to.
Sooner and I'm sure a diag may get it from from my book. Guys, let's I'm shaying on YouTube. I will try to share it on Twitter as well. Guys, don't sleep on an early investment. I will to share this again from on on YouTube.
Is on YouTube. I wish it on Twitter.
Starting early is the most underrated investment advice. Start to save for retirement today. Don't wait because it's compounds. So if you go on Twitter, I've shared on that diagram from my book you talk about starting early, you will see it there. I want to explain that chat it just a few.
Let's it.
Can you mute?
I think your mic has some back most honest. Okay, So all right, so.
Guys, I've heard that chat and if you look at them, just spend that chat to you guys real quick. Right, if you have two brothers, we've got two brothers fights and one brother is aged one brother same age, the same age. But look at brother A. Look at brother B. So brother A only stepped from the age twenty one. He only invested for ten years. Only for ten years. So he invested from two and two thousand, two years and ten. He only invested two thousand for ten years.
That's all he did till he was fifty. He never invested again. He only invested for ten years. Look at his brother. His brother invested double years. Brother BE invested for twenty years, but he started at the age thirty one. But he invested for twenty years.
Who made more money?
The chart is right there.
Brother A made more money.
Why because he invested earlier. So the point is this, if you invest earlier than a millionaire, you will make more money I in return than the millionaire. It's not how much cash the millionaire gets, but your rate of return is going to be more than the millionaire. Because when we can't collate interest. We use compounding and compoundsive function of time. So if you look at brother a, I'm gonna be Brada started at brott a twenty one, he only invested for ten years.
He didn't invest again.
His brother invested from the age thirty one, so he lost ten years and he invested double the amount that his brother did, but he still couldn't cash his brother. The guy that starts to invest early will make more money than the guy can't invest later.
So that's the only point I better.
If you say I'm not any money, I don't investment in PFA, you are making a big mistake. If you don't compound early, you will lose money. Literally, William what's mine? Mister Williams, what's it? W yes?
Will thank you for the good this thing that you're doing here, man, I tell you, am I trying to have an a personal question, all right?
Or investment and saying this thing too. I have a rental properly about to have it.
I'm currently doing it for base, but media has the case maybe I'm almost at the finishing touches of this building, but I leave that in Europe and the last few months due to what is currently.
Going on the inflation in Nigeria, I'm kind of considering, should.
I think out a loan? I'm finishing this property, yeah, oh should I just you know.
I don't know, I'm templating, but I looked at it.
I'm almost done.
I'm just at the finishing I can put Yeah. But when I looked at what this property is going to generate from me, me trying to get myself, got up the loan. Yeah, with the interest rate, I'm really wondering is it.
A good broadly like Broady Brody. But I have to advise you loads and natually are very expensive. So the rates of income on rental income compared to the interesting pay on the loan, you would pay more money on the loan rental income. What all the advice would you to say? Get tennis ready, place out, I get tennis. That say, if you want to rent this building, pay me five days in advance and I'll lock your rent
at this at this price. So for instance, if you come to me and you tell me I can pay five years rent today for that house and the next five years you know in please my rent, I'll pay you use the money from the tenance and you complete the building so you have, you have your home, and you're not takingning banging, you do tenants financing, do off the finance, let the tenants. I don't know how many flat days, I don't know. I'll just give you a
general idea. I'm not so how many flats you have, but to see if you can get tenants that we're paying advance, use the money and build a house. Yes, you you forgot your income, but you have the house five years you get the rent. But if you wait and keep waiting to get one into completing the house, I'm not sure what the house is to start with, but I think a bit better is to be more, should you say, prudence than borrowing. What if you borrow and you don't get tenants that you're owing the banks,
and then the banks own part of your house. So I would be consider that tenate's financing for now?
Yeah?
Does that work all right?
I mean, but like I said, I don't, I don't live.
So who's who's going you're thinking?
Would? I was thinking, is a good idea? Think a little loan?
I just I just I just I just want to say it. I just answered, I said, the rates the loan rates, and actually are high the rental income, so if you borrow to complete the house, the tenancy income will not pay back the loan. So I'm saying I prefer you go to your tenants, go to it, get a better real estates company and said rent the house out or put it advat and say you want tenant that will come and pay today for four or five
years and they can move. And then when you use the money to build the house and move in, so you complict the property. The property is yours. You use TenneT financing at zero percent to build the house, it's yours. After five years you can start taking the red arm. I don't think you take I amost in the property. If I if you give me numbers and seen the pro I can give you more back. But generally this is what I think you should do generally.
Really all right, thank you, I appreciate it.
Welcome Fami family. What's happening?
Yes, so this is more of a personal question.
So my dad's sold one of his property ATA and my dad is not The trade is not about in financial the traits. So the plan was to sell the property and get something in the block of flats somewhere around, go go to low daughter. You know, that's all shocky environment.
But we could not find.
This was some time around Jim and so with the little bit of financial you know, exposure I have, so he just kept the money in the band. So I was just able to advise him to fix the money in one of the colacial brands. And they fixed money for fourteen percents, you know, for a year, and the money would be ready by January.
So by Genuary would go.
Again in search of properties.
And if we cannot find and I'm also.
Thinking we should do it better investment instead of default and persent to my question, is you mentioned technicfend like you whys in this meeting?
As I was wondering, why is it bond that you refer to bond or it's something else?
How much do you have?
How much the it's the money is around it?
A million?
Eighty?
Yeah, yeah, you can have port.
You could have put furs treasuryficates for fifty million any percent. I mean I publish it every this gentleman shares it with me, and I published just when.
I walks in, Now.
What's touse you?
I mean I can say it's treasure bills or tree certificates?
For one year. I would give you that. Monk would be happy too. So so you know auctions, I publish it. It's also my timeline. It's from my deferend I do see it, but I just don't. Yeah, so what you want to do so keeping away in the bank, keeping that amount of the banker's losing money because because it is percent. So I would go Monday morning to make public banker or stop rocker and say I want to invest in the Nigerian building or something like that. It
gave you much more. It's to sit there in Nigeria and it will pay you much more than So I would do that on Monday morning to go to the broke our bank and say I want to say, write it down commercial paper, aerated commercial paper or feeder GOMENTARII ask for the when you buy the certificate.
If it's not if.
You're not buying it from the carimary market after for a yield to maturity, write it down yield to maturity. So if you go to the bank and they said, oh, we don't have new tragedy bills or willn't have new.
Bonds, but we have some that's to sell.
Ignore the interest rate that you see on the face they get the ten year interest rate. That's nonsense. I don't pay yield to maturity of what they're selling to you, or come to buy you from primary markets, right, or just put it in the commercial depart.
Tell them what you need.
If you have that kind of money, they will give you the answer.
You send me a d M.
That's a lot of time could do. All right, super, all right, guys read? Are you read? Thank you for me? Red?
You've got the floor A red? Red is not ready?
Let's get right, go ahead?
Yeah, okay, I'm fine. So my question goes like this, Now I work with the rest just like the equally.
Doesn't come.
That's stay studies. Just go why I'm thinking.
I have some money to burgle, like considering because I'm never telling.
Me like I should buy cones or I should buy land? Do you think much better than buying some cryptical assets?
That?
Right?
How was that from? When you want to invest? The first question? So when you want to invest, the very first to ask yourself is why are you inverted? So if you have on the bank I want to invest, you don't invest because of what's in front of you. The invest to match your objective It's like you asking me if you buy a Honda coup or should you buy a nine one one the anside, what do you
want to do with the car? If you want to paximates to come, buy nine one one truck, if you want to just go to work just to sell, buy the hound. So let me ask you the question this this Why are you invested for short terms?
For your long term?
Why are you investing.
It's for long term?
How long is long term? Okay? So if you're gonna touch the money for two to ten years, I like property. Okay, if you're gonna buy money tomorrow or next next week, don't buy a property person. It's not liquid. Property is not liquids. If you put your money in and you buy Lane, it's not liquid. So don't do that same thing with the more coins. Your coins are very very risky, even if it's bits coin, it's very very risky. So you want to build a pyramid, and your coins of
your crypto are the top top of the pyramid. So that's your like five percent of your portfolio. But the base of your pyramids should be solid investments, property, bluetoes, stocks, that kind of thing that are the very top crypto, So that's an investment for long term. I would say, build a portfolio. You don't know how old you are. But if you want to buy land, good get by land from a good sauce with good paper work that keeps its kind of like legits for you.
If it's for twenty years, fantastic, fancis.
We have money dure, so you can't take compositional B and then you work for what you have to build it.
That's what I prefer.
Because you said twenty years. Does that make sense?
Thank you very much, you very well.
Thank you.
Let me guess wammy wammy on our country. There's another mummy.
Yeah, my song is all right.
So I am a.
Country. I keep most of my dollars.
I'm not making by the moment, so I had to be through that counts to buy. It's for left right, like I both see quite expensive, So I write the notes right, So on my account nextel, why I just recordized health statements for up times.
So in my UH.
Said, I have pleased how to write my nose my nose.
That when I actually.
I'm now usually payments.
Right, I want to the people, so I have that came in right, So I wanted to dollar boats.
I was looking at the agent.
Really, I'm seeing that the dollar which is coming down, so.
I don't want to buy the dollar hand.
And like doll that comes down, right, So I'm doesn't not ways to people so that your one two years by dollar whatever reason, then you just stood back into p.
Investment accounts or I and your.
Skill in the I couldn't in the fund.
We hope that didn't allow you likely come down with the.
Level and the interest from from your phone, we've been able.
To like a sex you home.
So that's what I'm That's where I'm kind of you that you're come dollar they took or actually your recovered.
Yeah, I think you're mixed up with a lot of things there. So if you have income and I see you see you took only for the investments for assets right to buy, So you took income to an asset they want to pay back, don't pulling them all together. So that's time you did. The first of all is.
Gone withdraw on it for them. We took it from what what do you call that?
You took it from?
Love them saying what do you call that place?
To get from account? Was it.
Okay?
If you.
Keep I don't know you. That's so if it's not an investment account, Peri's what you pack money into for emergencies.
Yeah, but it's me.
But your checks account is not to invest tomorrow.
You're packing here for ex That's what I'm hearing.
Yes, so what you should just go ahead and bring you back because if you had your retirement accounts and investment accounts that is for you to compound from longer. I say, okay, yeah, you're taking money from you and you borrow from your from your retirement fund, you can put it back in. But this is like hear you said, it does have money in your massive fund which you used to buy an asset in the battle, right.
And I wanted to back Just put it back in, just put it black. Well, remember this money, this money is not.
It's a fresh contribution because you're taking out money. You took out money from the income that's spend. Don't put that money in. That's why I asked you, what may you call it? Because if you had it on an investment account, and it will say okay, festing out, fasting, all that kind of stuff. But it's just an in an out account. It's just when you pack money. It doesn't matter the Brits you are buying. Remember the the imagine fund is straight to six months of your expenses.
So if that fund is true to save expenses to accumulated there that one is not your lot tying that money to your retire les or to any other things. If I hear you correctly, it's way packing money that you get dollars just to do there for So just feel blashed.
All right, all right, thank you, you want thanks, but they can't look at everyone name a relationship manager and in the bank and I have customers, so you know process the lows and.
Currently the London rates it's too high now it's surrounded sense of which is not factory encouraging businesses.
This is not a good time to borrow.
So but I want to ask the questions because it turn this this is a nice thing. I said, if you us you want to invest in, what's to consume to what a part of the good things that What are the best investments that could be doing using boringforms looking at this current London city.
Any interests, anything that pays you for investments?
Okay, to president next time, it's really.
See how.
Very much which invested. Do you think this is for the printing back today.
I don't think it's.
Actually there's not.
There's not. That's a point of it. It's not. So what I want to try to do is to build a portfolio that that it's going to grow. So you when you buy an asset today, you want to ban as you think over time will come for the lost income today by ten years example, will then start to pay you look at this way, the life of that asset school maybe thirty years. If you take your cash frow today, you'll be negative and to give you negative for ten years. But once the asset becomes positive, is
that going to give you? Put this in the next fifteen years. So if you look at it as if you stretch out the time the cash line of that asset, that's what I'm asking. Is the same way if you build a property, you buck take a loan for actual person, like you build five buildings for the first five years, you're paying back the bank, so you're not real cash to yourself.
But what was it as a com it's pure cash to yourself.
Nobody will say I don't want to I do not want to invest because I'm not going to any just for the next five years. No one's gonna argue that you get a point making. Everyone's gonna say, I want to buy that property because the next ten years I am able to make a return that is better than what I have to do. I'm going to do this ye in long term. One said, so that you say I'm losing one today because in addition, well, what do
you think the asset value rises tomorrow? I might go to be a better if you wait for perfectly, you're never going to the city to the boat. That's where I wanted to do this, all right, thanks to what Jerry?
What's Jerry?
Yeah?
Thanks, I just joined. So I hope my prasion will be entirely of I have a question.
Around in savings investments, and then starts company about that we'll get to travel your ana.
So but during my last last and fire and says I could get your last and.
Was coming to compare to some of the person before.
My love that.
I do with that to keep it alive.
What's like to take what.
That is?
Right?
I don't know what before I try to put some shares and checked it was being fine.
What is the better advice when it comes to that should I just signed and maybe not buy more? Need to take time to kind of like that because that's staying energy persons.
So for the first one, are you yes, you should do it? You actually actually make more contributions. It's called additional voluntary contributions. You can conduct you if you try to contact.
Them what they need for.
Its going to be a schedule to say I wanted to call your p called them, say I had this perfe, I want to make additional fort of controls to it. How can I go about? That's what you can do?
Okay, okay, if you are not if you if you are no longer working, if you're not working, you can actually what's it?
You can actually request for some for some from that account. But because I think it might be working, you might not be able to get those phones. If you want to keep it, you can still make for conversion to it, so it's possible. So let's go to your question again, why did you buy the sto that you mentioned? Why did you buy it? What's the object of buying that stalk?
The you go was to continue buying more for a long term.
Have youth diffidends and.
From that stock, have you got anything from that stock. Yeah, I got after.
Okay, it w when you want, I can think, Okay, what I'm asking is this is an empty and pace pays some good dividends. If you plot your average cost. Let's say you know you have a whole an error. If you invested your dividends, your cost of what is
going to fall. So if you certainly don't need the returns empty and reinvesteds reinvested, just go back to your registered traditional but I think they're called coronation, correation, interation to empty and go back to the confirm ware events are getting.
Check for a difference and buy more.
If you buy more, what you are averaging now your cost price of empty and you say it's not doing well.
If it's not doing well, if you want to keep it, buy more and average costs down.
Thing is not doing what I want said, go ahead and sell.
But it has to ansdly.
Have tom meet your objective. Buy that you actually bought that stock in the first place. If you want to hold it for long term, I would say invested in this. I've been down the cost. So like you carry down the cost, it's look at the price you put it. Ask what did you have the cost that you have because you invested your diffident. You just don't want to major it.
Yes, but we talk about the.
Already.
But the cost if it was a share a hundred error and you get the dais of ten error, you then use that ten error to buy a new stock. Okay, it's almost free me. But that ten that I came from your hundred mir so your cost right, you might have more quantity with the same hound seeing you want. You use to buy hundred stock, then you hold the stock gives.
You ten error.
When you take that ten you buy more stock.
It's from the same one hundred that you because initially that you point a new stock for your aff geve some for to go from pregner to ninety to fifty.
So we then compare with the market price. You're not compared at to a hundred.
You're to compare reduced pride because you have reinvested your principle.
You see why I'm going to do this.
So if you did his answers again, you might be surprised that you made more money because you've been invested. So for you guys abroad, I am in Naira for medal courses in one int thing about just for investing individence and I too, that might be a good option for you.
Okay, thank you so much.
Let's get to go to.
Hello.
Ok yeah you hi ahead.
Okay, I'm so my name is cool.
So I might have a question.
I got good first of.
All about like my business and question to go to the question of the mind. Okay, So the question is like, I'm work, I work like face.
Let me see, I lied to issue to the business like working like fifty percent because we can get so we're being fifty cents by revenue every like.
Watch and the kind of nok So, now my question goes like should I should get our own speech?
I don't know any question.
Yes, that's a great question. Let me talk about rents and startups.
Let me ask your question just like I rather report.
One that I said the proper to start off ba die after two years?
Do you know what.
You know?
So that's when the rents expires.
Okay, So in fact, it is right, if you start off, you shouldn't be borrowing willing to pay for.
Rent Okay, yeah, I get that.
It was actually like currently the revenue you are making can cover the events, but the issue because like we are being fifty percent, we're currently.
Using like an event or kind of table we have at that more space. What this is that because we're saved by students, we generate like we've generate for you, that's seven.
Months of generated three million.
Was because we're being fifty I'm giving events over more similial lands, not million school.
So at the end of every we handle apprecial, we hand the market.
I want to go the very very simple thing. You're incomparable your current rent you want to borrow wanting to go to do what.
Like it's not a rented but it's kind of like an agreements kind of thing.
So fifty about with generally, So now we want to have our own specify that used to invest in all that things get.
Because like so can you and your percent cover the reds? You please?
So what's the question?
What's the question?
Then the question is should be taking to get own?
What are you saying?
Said?
So let me ask you again? Can you cover your rights the new place?
What you.
Why not?
You center?
You gonna stand whatever we.
Ever, this's a good question. Fifty percent right now? Can you cover your rids in the new place?
Yes?
Yes, yes you can't because because we're ring like all that house like market operation.
That's what I like that. That's what I asked you. I asked you a simple question. The fifty percent you and your income you end right now? Can it afford you to get a new place from your income and your gun income combined rate commate income? Can you complate.
Yes?
Like yes, what's the question?
I mean, sure you understand what I'm saying, Like, the question is the keep.
We have no cash race? You understand what's what's cash? Cash income or letting work cash?
The balance? Let me see what balance that's the next profit.
It's like in the band, the balance you have, not the band. So because I'm asking you specific questions, but you answered that, you go back. So let me ask you face specific Right, you make seals, right, you make seals, then you pay expenses. You pay expenses. Yeah, then you have net income? Right? Are you paying rent currently?
Yes?
Okay, So see as I'm asking you, can your revenues currently? If you go to a new place, can you pay for the rent of the new place from your revenues?
Yes?
So what's the question.
If you can't pay it, then go.
Okay?
Thank You don't borrow money to pay for your new place. Don't don't borrow mons, pay for rent. Pay for rent from your organic income. If you cannot afford the rent from you organic income, then the business cannot afford that. Please, and you can don't borrow money to do that. No, but if you've said that yes, your organic income can
pay for rent, then do it. But don't borrow. Don't live where you are paying your royalty to rent the space to borrow money to go and rent in place that you Are you buying it or are you renting it just to rent?
No?
Please don't stay where you are or use your organic income and convert the rents. Please, Yeah, okay, appreciate that.
Hey guys again us to recap.
Right, we're talking about special health check. I've talked about the sheddle. How your objective in this sheddle is to move your active income to your passive income. So income is not wealth.
Income has got to be converted.
To active to income for you to income has got to be converted to an asset for you to be wealthy. So we're saying you move your active income, which is your salary, to a passive income, which is what income you make when you're not working.
That's not one thing.
Then one say number two, make sure your passive income, the money from rent, from your share of business, think that you end when out there can cover your non discretionary expenses. I've shared both diagrams. That explains what passive activists I want, not discretion in communs. So that's what want about today. Then we'll talk about your budget. On your budget for twenty five, list out to your expenses. You can pick the month of October. No the final
set list out your expenses. Go to your bud account, pull up your statements, list your expenses, categorize your expenses, and then I locate in points for experts for twenty twenty five. So we'll talk about your budgeting. We'll talk about how you're past yet your objective to convert active to passive over a long period of time. Jesse also mine, Jesse go ahead.
Thank you for the pushing dispe with your share.
So my question is students and put puting to work at an organization. We are about one hundred thousand a year. So the last year I was able to save three hundred thousand there in money markets bought Church Review about one hundred thousands around pcent interest rates and a logging about one hundred thousand for next year. I'm looking to go ahead to in some certification un certification in finance and the cost about seven hundred thousand there, So our listeners.
To ask what do you think?
Question about what's the stification, what's the satisfication? What is question for cf so acording it to do a lot for four undred Yeah, that's that's a better investment, your investment. So if you can get a CFP, it's going to boost your active income. So it's like you're investinite in yourself. So if you've got that, yeah, I will take it. Okay. So another idea can be interesting if you think you can see past, that's an investment. Thank you, Okay, try,
thank you very much. Good luck with this, sir.
Thanks thanks my look at Julia, Julia, what's.
I'm carlor believing a man herd?
Yes, sir, you are all right, Thank you very much.
I'm just just saying I'll followed you for a long and then agine this was going on.
I was stumped upon this.
I'm so that I can't Yes, okay, first of all, I I just got exposed to a stockbroker official stockbroker earlier on this year because I've been trying to figure out how to get involved in the captain market in Nigeria.
So I got involved in one. And my question is two food.
First of all, he's been sending me or they have been sending me on commercial papers in mid thirty percent, twenty nine percent or one twelve percent dollars, and I want to just and I've seen a ratings, A plus, A plus plus ratings on these commercial papers. I want to just ask how how safe are they is and historically are the good part time or.
Short term investments.
That's my first question and my second one is kind of like to imagine that and someone go from most stop procrast multiple stocks at the same time or do I have to stick with one? And I think the last question is how how can I invest understand how to invest in the stock.
Market and local and internationally?
What would be the best place to get the best information to make me make informed decisions for my investments going forward?
Thank you?
Yeah, So that's the second question is easier, So I grab that one. Yes, you can have multiple stopping account what advice you have one cs CS? So like look at it this way you can buy shares too many broadcasts? What have one c S expand rather than ask where your shares are going to be deposited. So if you buy from broker A, have your CSS with them. If you use broker B, then go have your c S c S with telbroker you to send the shares to your cs S. Right you here, you know what I mean.
So you have one c c S, but you can have many to stop broker not a problem with that number two and the first one you talk about. They're sending commocial and they are abited. So cps are usually what is commutual paper is is that the company itself is borrowing. Is borrowing. You are lending money to the company itself, not the bank. When you go to a bank and you give the bank money to invest in the bank, that's called.
The fixed deposits.
So the bank is live. The bank is saying we are taking that money from you and are going to promise to give you a return. And the bank is ensured by nd I C Right, so when you get to bank one of to five million, it's ensured by the NDIC and the bank is liable. When a bank sells a commercial platform say MTN. It is mt and you are lending money too, not the bank. So because it's because it is riskier than than the than the bank.
Empty MPs you the higher RATI friction.
So if you can stomach the extra risk coulture papers, are you good for the end the guaranteed rate of friction if you can stomach the added risk. So that's the answer right there for you. On commercial papers and I like them. If you are aerited and all that, a good company is empty n you know, so you can say, wow, it's empty and the bluetube stock highest second highest cap stock in Nigeria, they won't go down. That's going to be your constrution, superbs.
You can do that right.
Your last question about how you plan anymore? I mean intent is filled with free resources. If you go to YouTube and industied teach me about stock, you will you see tons of videos on YouTube that teach you about stoff.
So do that.
Go online, YouTube, Instagram, plow, lots of channels, Google on blue bed, look Blue Bluebell or your TV. You start to pick up the language and the intent of what they are seen and then you come and expert just like how you watch you know, if you have an interesting football, you don't who you know what offside is what goble is the same thing with the investments. You have to pickle it. I'm still on there and you can basically learn what they're saying and all those things
mean to you. That essentially is let's not margic to it. Thank you very much in perfect Hey, welcome brother, thank you so much. Let's get wasn't spoken, I've got apparently have you spoken? It's go ahead, Daniel or catching that. Let's be catching.
Thank you everybody, Thank you so call.
I just trumbled upout this.
Space and I'm really enjoying the Oh well, I want to ask what you think about.
Such too.
She's being the smallest unit of this makes going.
You're just speaking, you're speaking English, Sato, She's the smallest scenes of this.
It doesn't mean anything. It means nothing.
I was.
I want to ask if what you think about investing busis in general, because we know we can see the future it's going before its markets are trade for I see the future and how the market is going, so and then the future where one one sattooshe be equal to one dollar someday. And let's say in Nigeria has billions of the satleges and really the world leaders are stacking of busis now.
We can't see the future of it. So what do you think about discoines.
But I'm going to tell you this, Bitcoin now seems to have more utility because of the US president wants to invest in the US presidents that Donald Trump, the US present elects a lot of promises to be to the market and if you gets elected, you will support them. His SEC chairman, the SECT and Exchange chairman is pro bitcoin. They are talking about bitcoin reserve. If you guys in the said I was on doing bitcoin reserve. I think the state of Florida, I think the lot of our
states are doing bitcoin reserves. Are better is doing bitcoin reserve. So there seems to be a you know, the governments seems to like bitcoin, which means demand is up. So because demand is our prices could go up. I don't yet see. I saw was micro strategy that I talk about how Michael Cillo. I also saw a guy and I forget he was talking about how they were using bitcoin as collateral for property lending, which I found was very very interesting in that they were using when they
when you come and borrow. You want to build a whole apartment, compt with them. They make you buy bitcoin, and they do bitcoin acts as security for the loaned given to you, so that if you can't pay back, they're able to then take this to bitcoin as collateral.
That was very very interesting.
Why it was interesting work because it's busy utility because before now bitcoin was only going up because of the greater food theory. If I buy it today, I can sell soyer tomorrow. That's greater food theory.
But now I think we're seeing utility coming to the play.
I mean, if that guy's idea catches on that, if you want to buy a house, the bank will tend to also buy bitcoin. So when you buy bitcoin, which your collateral, if the property you buy you can only service the collateral, then the bank will take a bitcoin and sell. So it looks like a bit off your tuties coming in space. For generally, lots.
Of governments seemed to be open to the idea.
How can I just into that.
If you think that you have someone you can invest five ten percent of your portfolio in it, if you can stomach the risk, that's how you can invest in it, all.
Right, all right, thank you.
You're welcome. He catch.
I can, yeah, thank you all listening for your spaces every Sunday.
I just want to have a question here. If, for instance, I don't receive dividends on its clusters then holding and who do I contact? Is it my my broker or the registrar for that? What's cluster the registrar to the registrat Okay, okay, the brocast the broker happened to do that?
You're distract yeah, okay, perfect, all right, thank you.
This this is year of Arsenal, and I don't see any year of asking for speech year of arsenal.
That's not name the just say yes speak Daniel Blair. Okay, So thank you for the opportunity.
I've been following the space for.
So my question is.
Basically a Techi brand brand companies and lot firms. So over because of the day, I've been able to amasive of resources to go into business. The restaurant business persiblity is doing work. So in addition to that, I also got a coupul of books that my female So this particular space is talking about converting your income to passive income, which I find interesting because it is something.
I've been hoping to achieve during the end of this year or lness.
So basically the business that I have been.
Able to start this year and is running, the restaurant business, is regarding my whole attention, my whole service and older.
So right now I'm.
Trying to transition into having maybe one or two other business would require us much of my attention.
So I what considering maybe I could get a shop.
To buy electronicst traser all ourselves, maybe low liquidity goods that could maybe put someone there.
I would require me to.
Be that constant, or maybe just get a bike or cake then get a driver.
So I want to have What are the key is that we watch out for.
When transiting your your your.
Finances from active and steadying come to passively Because if you.
Fit this wrong, if we lose everything, you could.
Lose the one that is active, you would not.
So the world that is that is passive.
So what are the keys stay by stave kind of that we could do?
And do we are we navigate.
Ourselves so that to be seas and are we so sister, thank you?
Yeah?
I think the case is to make sure that that's wherever you're infested is going to be managed by some that goes what he's doing. I hear you say you want to buy a case active. It's not passive because you have to fool like a care every day. So you want to in first something that you're not going to be involved in, but the money comes. Anything you're going to put you are going to be worried about in the income commun it's not passive. So that's the person.
I'll say, who is the manager of that place you want to put your money? Is it a corporate? Is it a person? If it's a present, how long has he done what he's doing? Is it giving you a guarantee? Is like that? I mean the same way you invest in something those same questions. It all comes to you and says, I want to go to America and buy apples, ninty, how do you who is here? Does ever passport? Or
how can it bring apples to America? Almost questions you asked is simely you want to ask this present before you invest your money. Passive means you and not involved in the running or worrying about that income, but you get money. So think of it that way. If I give a want to diagnot this cement I don't worry about cement.
I know it's not going to be to bedd back.
I don't have to worry about what they're packing their cas Where I get that limestone from, I just get an income compassment. That's what passively incompits. Right, doesn't mean you have You can buy equity, you can buy property, you can invest in that, but it has to be something that you are not going to be involved in so you can then dives fiveway from active to passive doesn't answer the question.
Sir about our life.
So in in in I don't want to do.
Love with physical business grand but I wanted to be.
A kind of passive.
You can't be you if if you are involved in the business is not passive. You can't have the second business and call it passive. It's still active income. So if you own a world restaurant, then you go buy a bottling company, those are active incomes. They're not passive because you are involved in the bottling company and the restaurant.
The whole idea of passive is a diversify your income away from what you are going to be doing day by day to where you simply received the return from my investment that's the whole idea.
Oh that was listening.
Thank you, all right, super let me get Isaiah, Isaiah, you'll be your intern is breaking? Isaia realised this start Isaiah? Go ahead?
Isaiah heard it? Yeah, yeah, I see your.
Intence is very very bad, Isaiah. Can you speak as I do once? Okay, I've got a year of arsenal? Yeah please, can you speak year of arsenal? Le's get a stop kudos?
Stop?
Could fine? I do not appreciate you.
I have.
Well invest.
And I'm push I did.
That's fun, but okay, but I.
Don't invest in all the international.
Station and your others. I can't hear Christmas.
Can you fix your audio comeback? I can really hear what you're saying?
Yeah, go ahead, okay, I said, I am annoying business ergy. That's fun. I wanted because Christmas. But I can't hear you fix the audio comeback. I can't hear what you're saying. Let's get speaker. Let's get this year of fast. You're fasten calling three times. I'm not hearing anything.
You're a fast three go ahead?
Yeah.
Thanks for all I do in the space.
So just.
Me with regard to commercial papers, I.
Like you to help with what's what's the what's the achieve or what do I focus on between the discount rates and the imply yield?
What should be my focus?
Is it a discouverry or the imply you?
That's one question.
Then secondly, how do I approach from Nigeria and investing index funds in the US?
Thank you?
So they are what you want to look out for. I do what you say, imply friendly, YouTuber, charity your bicycle to the market. Correct, I just saying, right.
Not at all, I'm actually buying like.
Okay.
So my stockbroker frequently sends you know, there are couple of.
Commercial papers out there and all that, so they usually send it to me value. So I just wanted to know the difference.
For example, one of the that I got recently, the discounts rate was twenty four point ninety eight.
Percent and then implied yield was twenty eight point.
Five the discount I think that's the CPN discount rate is. So look at this. To it right when the company when the company issues the commercial paper, the issues the paper on Monday, and they're paying you ten percent. If you buy the paper on that same Monday, you're going to get ten percent. But let's say you buy the paper on Thursday. On Thursday, interest rates in Nigeria has changed. That's the discountry you're talking about. The interesting have changed. If interested go up the.
Present the bond comes down. If it doesn't go down, the person of the bunk goes up.
So when they give you the implied year, they are telling you that if you are buying today based on the interest rates in their account me, your implied year is not that ten percent, but whatever yield that you are seeing that are according to you. So if you buy that bond, you can buy at a premium at a discount.
That's the implied yield.
That's the real not the coupon, not what the company paid on Monday, but what the company is, what the stock is not, or what the bond is now saying as on Thursday. That's the implied yield. So when you are buying secondary market with me that you are buying from them they've bought, They're said to you you want to focus on the implied year, that's what you get. But if you're buying at the primary market when the
company issued, you can only focus on coopon. So the answer phrase, you're going to look at the implied year. That's what you're really going to get if you give them yourn ira makes sense, all right, I think that makes sense to that impliedly thinking.
So how do you approach invested in index.
Phones in the viewers so much looking like something.
In that, you know, because I'm usually very cautious or.
Rather mindful about fees and not that, not in from the loop fees and all that, but just generally.
Working with a brooker and all that, how do I how do I go from Yeah, just just find the index fund that I want to invest in. You can you can buy an index et F like all the vt I for America or V for America to find the one you want to invest in. What markets are you want to index? You want to again exposed to index? Find it out In Nigeria we now have absolutely that offer you access to the US markets. Rest Ntini, a second Registan, there's Shaka, there's Cowie, there's a Bamboo. I
think there's a rise as well. All these apps.
Allow you'll give you a campaign.
I'm buying the index fund abroad or an index ETF.
You can buy an ETA that tries to index.
As well, So find whatever you want to buy GOL and say that's buy UK market, just like what's what's the equity index for you? Market to give it to you and there and they categorize in anywhere. It can give you only a blue chip or small caps or large caps whatever. If you buy VT, I like, I give more fility because it's Vanguard. Verus's massive and cost alone, and I always like ETFs that. In response, Vanguard has
something called VT. If so VT media will buy all the stocks on earth that are good quote unquote, BT's just you're gonna buy everything after that VIS, there's VT I. So your VTI is just American stores, five thousand of them. About five after VT, there's VO. VE always talk about not just American stocks but the top five hundred. So there's VT, the VT either VO. So you can see how to break it down. So if you want to be exposed to the larger market VT, VVT just it's
just American market VT. I just suppose to that's five on the American stores view. If you don't have to buy American store to buy everything's from a proper American stalk. There is b x U s SO b X us. Just buy everything Shell Toyota. Now Americans talk, so the anside, find where you find where you want to be exposed to. If you want to buy Greece, look for the Greece index one. Then you go to your actional Apple sty Do they have this index form as listened on the app?
They have it?
Fantastic? Don't have it? Then you have to do something else. Does I work for you? Okay, that's fine, thank you.
So you're rather each year I prefer its just for certain abases.
But if you can in this one, your call.
Okay, that's thank you.
API.
You're welcome as I want to inventor as a.
Okay, good evening, sir, Fine, thank you so much for the good book you're doing.
And I just want to make but this might not be very related, but I've been trying to like.
Hate you on your profile for a while. Now be concerning an idea.
I don't know if you have the mentorship program that work and paying to enroll in.
I have been.
I have been in residential real estates here and.
Has been very great, Like this year was extraordinary for me.
And next year I want to ventrain into commercial real estate and do other things. I had before.
Now, I tried my best to study something to do someone life schools majorly from outside the country.
Like I'm Indians and because too just like learn more about.
Realesting, financing another and in me clearly that real est real estate is more about filers than about engineering or editing else. And I've been trying and from the need to I've been able.
To study basically from an online school that are like natures that.
I wanted to do with that and you're asation all the digraphy work in Nigeria and the economica.
This is uh the other thing that there are.
I felt like they still envoid, So I said, what what was the question? Yeah? So the best is this if you have a page mentorship program that.
With work and already and secondly, if there is any if any way that I have a if the if there is any.
Way, if it is any way that I can get in touch with you maybe.
After this, after this night, for us to like maybe have a talk, like if.
I can get your your email or maybe.
Contact no about that we could talk.
I don't I don't have any paid mentorship.
I don't need to do that.
I just do this what I do on Twitter if you want to, you can send me a dear if you want to buy. This is all I do, just this sort on Twitter and yeah but it talks me. But what kin I do? Like if you UNDERSTANDE. So that's a project, I mean, so let's talk about it, you know. That's all I see.
What you see? Yeah, good evening, Talu, Hi, thank you for this very well.
Thank you.
I've been listening for what I'm trying now.
So I just want to ask again because you did want simple math.
We are comparing rein TI.
Income resors over the cost of the project you did any little about one fifteen came in too, about six percent.
But I want to ask, are we.
Not considering situations where.
You're paying me on the next year or twenty meal your reigning school to go.
To like twenty million or ten million.
Isn't that you were to also look at it like rainy paying com is not?
That's no.
I mean your income is s paradum, right, and it is s paradum.
So look at all where if you have one nyr, you can invest in stock markets, you can invest in a bond market, you can invest in a dollar for pricing market. Youre also invest in property. So how do we compare across different as a classes? Where to compare the return or the yield? So to compare property with bonds, were to compare what they give us if we invest the same amount of money. That's what we call the yield.
So how do we calculate yield? Yield is what we make divided by what we have invested, what we make for that period. So let's pike it period. You can picket pieros to generate in twenty four till the summer twenty be four.
And the point that the meaning is if.
You take a one hundred million and you buy bonds, you're come back to pay you twenty test percent. This is the government. So that means there's no risk twenty to ten two percent risk free quote unquote rights from the government. So part that's on one side. If I take a one hundred million and I buy property, what is the rent? Can do you know any based lucky that's paying more than ten dollars rants? What about a company? Is rent is more than ten million based like in
lucky not dollar then irant place lucky range. Yeah, So if there's no other based twenty millionaire rents in lucky.
You know that right, twenty million paranom so and that's the right town.
So if you look at twenty million has to give you twenty to make twenty percent to match the federal re born, you have to do twenty million rends. So you can see that they return. The return on property is very very low. Where property excels is that the property rises in patient inflation, so the asset value of property will bid inflation. What they to or not? Does that make sense?
Yeah?
It does, Thank you very That's what That's what I'm saying.
I appreciate it.
Thank you very much.
Are very welcome.
Sorry, all right, g w about you soon. Let's get a show show hopping right in what it might show didn't miss economy.
So I really liked the last question you answered, and just to say again, I joined it so you might.
Have handled my case. I just put it out there too.
I've been thinking of this passing campaign and last month I.
Got the least for an apartments.
In my area on the mainland for just saying it mini flat, and I got it for five million, and the plan was to it for seventeen years and the plan.
Was for me to.
You know, just have something that brings in rents yearly.
So my corcuditions were.
In the area.
On the average, rents for the last on the average is about like for Amerricane.
So I don't know.
I just want to like try it out and then see how see how it works out it. So my plan, like I said, was just to get it.
I'm not wait for the seventeen years.
Now.
Basically, what I'm thinking of this is, I don't know, you.
Know, it was developed by developers, so I'm not.
Like pretty sure if it's going to.
Last for seventeen years.
So I'm thinking.
Get friends for three to four years or five years, and then at that point sell out and then maybe invest the money.
In some something else.
So just said, you want to buy a property, so at least did already I bought the ready for seventeen years. Yes, you live for both.
I released this for seventeen years because it leads.
All right, yes, So and then, like I said.
Runs in the area is about like eight hundred thousand on the average.
Okay, so what's the year?
So how much do you did you lose it for?
Okay, so let me rephrase, I didn't buy If someone used this to me I know what what what I paid? What was this a year? For the whole seventeen years?
Okay, So it's like I said, it's just a minute, but it's not like not like it's a big apartments.
So everyone just wanted to real more so so to say let's start over again. So how much you been the guy? How much have been the guy? So I paid the games I've been final for for for all the years, for the years, So many years, for all the years, so's to five million, divide by how how many years? Seventeen years? So so every year you are paying two hundred and acted four. Okay, So what's what's your writer year?
So on the average on the average, now just looking at it.
Okay, so you are making in terms of you let's just use.
Let's just hundreds okay, so that would be fine, red year. That's about years every year, yes, okay, most most question.
So my question now is uh, because of the.
Most most times don't Given the past few houses, they don't really use like for to see materials and all of that. So I'm taking the possibility as time goes by it would be used.
And on the house that's ten years, you begin to see like cracks and traces that you know it is material. So I am thinking instead of me wasting for that time, I just get.
Ready for saying for the city. And then so I was how.
I'm not not since I still.
Have like at that time, I have like sile years.
What I mean, if I got to prop was beIN me to six percent, I would sell it?
Would I sell it? It's based inflation. If it cracks and put the money for five years, I've made my money back the guy, right, So if you pay the guy.
Was a guy drunk.
He gave me this deal water. I mean you you so there there are lots of those like this. Why would he give you? I would give out the protein for five you know, when he knows he can do the same thing you're doing. Now, I'm not thinking for it.
But what I notice is most times they have multiple of these projects going on and then they get stuck and then exactly.
I mean, like you said, goop call. So that means every year, if you have this for how many do you make your break?
What's yours? Your breaking?
Look at your breaking, that's going to be your main thing. Look at your Yeah, that's what your eye is called. Your are your return return or your breaks?
Where are you going to make.
Your principal back? Make your principal back? First of all,
first they's okay, how much return to you? Because this deal, if it's one hundred percent, when you do that the first time, talk about okay, let's see that can set up and all that if you can, if you can't give it for the whole seventeen years a cash cow because once you look at the principal, it just gives you pure cash profit and the results are so high that it bets inflation, like you said, but probably going to be to maintain to protein for the next seventy years.
Who is that when you go to your account that you have to dupreciate this building.
Very very carefully, so you have a reserve to face the building of So I would not take all the profits with as perfect I would side to renovate this building, say in five years time.
So now we we reduce this to a Tuesday six percent return.
I looked in some money for it for repairs and innovation, so at that time you can plow it back into the assets, bring it back up to speed every increase events if it be possible. So you keep going maximizage this us a deal.
Thank you so much.
Yea, honestly you put your hand up Odyssey, that's honestly INTOBC.
What's up?
I see your handles are going to speak. Okay, guys round off toogle.
Yah.
Thank you before you do. I have before your patrol.
Why my name is should buy with this if farmer?
And I'm wanted to ask what you think.
About neutral phones and if it's advisable. Let's see someone gets a loan and justus risky intro of farming.
And the loan return if he can split the loan.
Into to invest in nutral phones and used to rest for the business, just to have.
That as a back up.
So I just wanted to get to know the everything, to know the conditions and like windows, utra phones start paying.
That's all.
Let me ask the question to immutual phone is just in for like an Susie phone. You put your money together in a sou and take the money and invest and you guys shared the returns. That's really your funds. You put money together into a fund, hence the word mutual fund. Many of you put money together into one fund. The fund invests when the fund gets returns. The fund shows returns back to you. So mutual fund simply means that's what it means to your question, what if you
should borrow for the fun and all that? As a general rule, I don't like people borrowing. Oh I tell you what you're gonna do with the borrowing first? What would they borrowing do on the firm? Tell me what you want to money to.
Do on the fund?
Okay, I have an idea for the meets up that I wouldn't want to divoge all of the futures that it's with your tracking the degrees and getting meat and all that, but it just basically needs put on a kind of amazing future.
So I've already got like in front and just get some funds to do some basic things like.
All right, so it's not it's not a guarantee.
Then if the meat out can work, the meets up might not work, but it's not guarants it's going to work. So because of that, I wouldn't advise you borrowing to do that, because once you borrow, it's going to be a term loan with me that you must pay the bank back when it work it doesn't work, rather than when you want to take a risk, you use equity or what we call patient capital to take a risk. So your family, friends, savings, low interests, put loans on
your compety. That's what you want to use to take a risk because if you fail, you have time or lower cost to repay if you take a bank loan to take a risk investment. That's what bank loans are for. Bank loans are for working capital. Means that, for instance, you have an order to supply meat to somebody, but you have no cash for the meats, or that they have an helper, you can take a bank loan supply the meat. The customer page people at the bank very very short, very very targeted.
You can't issue use a bank loan to.
Invest because you have a fixed cost but an uncertain return. So I would not to borrow for that.
Is that I gets you and I'm not trying to be like that was why I wanted to like invested in dragons.
Like do things.
What was the return? The bank is not fulish, right, so what's the return on the loan? That's the returning mutual phone? Can you guarantee the returning mutual fund?
The loan was about twenty percent interest. Mutrophones says they have twenty between fifteen.
The way this is depending on.
The back but it's not it's not it's not guaranteed phones.
I don't really know, that's what as I don't.
Yeah, so we feel that imagine, look at your imagine. You say you want to borrow at twenty and pay back and at twenty and pay back at twenty is very very tight and I'm gonna pay fees and all that kind of stuff. So again it's if.
You are can range at ten.
Two and you are in in one hundred, there's a big margine of safety there, but you have no imagine of safety. Your bank is borrowing your money at how much at twenty and you're going to make fift twenty.
There's no margine of safety there.
If you saying there's no margin there, so I would I would advise you borrow for that. There are other things you can borrow for, Like I said, you borrow for working capital. You you you are shot the returns coming in. You just need funds egnefly to process and order. It's very very short term. It doesn't go in and out. But to borrow for a bank to run the farm it's you're in credit a fixed costs with unsettingment, So I would I wouldn't do that.
Okay, so thank you so much.
Thanks just my opinion. Yes, all right, let's get Marriader Nigeria marrieder? What's your man?
Mariader? Might that going once?
Marrieder? Going twice? Let's get Maria you speaking hello, very very bad. I gotta take your da. Might I text me a question? All right? That's a glitters world.
Glitters world. You've got the floor.
About mentus? Mentus?
How you doing mantus in America?
She work your how's it? Go ahead?
Good?
Good?
Okay, thank you very much for the space side.
I'm one of the first strong.
Guess functions and I appreciate what you do every weekend.
Thank you. Yeah. So in one of your last engagement to yourself and.
Then your friend, is it that that they.
There?
So you you know somebody as specification respect to financial advice and your advising.
Person to go with money Africa or somesing.
So I took that advantage and booked this section with them.
And then the recommenders so who have more or gusts like financial engagements, and then the you know the guilfome advice.
So this was a few months close to the general US selection.
So I invested in them, you know some of the lists gave me and then.
It's something else will need to invest in Tesla and I was able to buy a few shapes and that has almost.
Forty patients.
And that's a last tip last week.
So so my question is time is what do you use?
What do you see in the future of testable respect to all the developments there.
Driver see what they're doing.
Do you think.
You know it is still on their value?
Stay good by doing you know.
Which?
Thank you?
Yeah, that's so again, I'm just in my opinion. I'm not giving you a facial advice. Don't nothing I say here I should be used as fancial advice. I'm not a facial adviser.
Yeah.
So Tesla is Tesla is look at.
The good thing for let me give the bootside for Tesla.
They have skill. Tesla is building electricals and when you were into manufacturing, the president that wins is whoever has skilled, skilled beings who can produce more at the cheaper price. There's test like you. There's Testla in Germany, there's Testla in China. They want to be appoint test line in India. So what you see that the cost perk car for Testla's coming down. What it means even if Volkswagen or Toyota or the rest can actually build it electric car,
they can't build it at the cost of Tesla. So as a positive for Tesla, he might be in the default electric car, especially if he keeps on dropping his prices to match with the Chinese. Chinese are number one card plass in the world because they can manufactured cars are twenty thousand dollars per car, So that's the advantage for TESTA number one.
The other big thing for him is that he's very, very close to.
The administration in America today, So if does any hope that maybe in regulations would have affected him. He's been trying for a long time to get approval to driver lest cars, driver lest taxes in America hasn't been given. With this admit decision, it has a better chance because he's intact with the President elect, with means that it's easier for him to get these things are proved and tested and then start to run off the skill run at skill, So that's not costing for him.
So if you look at those two things.
It looks like he might be a goodbye that's why you see the stock going up. The stocks went up after elections. When mister Trump won, he also went off. But it's a good company. The cars are they're making more cars at the cheaper price, so all things being equal, they might become the dominant force in ebs in America. The bad side of Testla is that America has don't really like electric cars. They still prefer in accompostion cars to date, so it might be selling, but is he
selling an expanding market. That's a question you want to ask yourself. So that's where number two Testla is. It's a very very expensive stock. Look at the price to an instratio and they don't pay dividends. So if you're test that today, you are buying to hope that the price will keep on going up to justify your.
You're gonna get any des from the test like next future.
They reinvested their.
Income, So that's the plus.
And that's the other side, And I hope it's from there you can make your call if any parts. So you're a shoveler hanging there, let's see all right, all right, I guess we're to think last questions, I've got letters, I've got you the time, I've got amy, and I will call today. Right, So business, what's go for it? Last week questions? Letters?
We'll go for it all right?
Yes, yes, I'm the owner.
Okay, so is.
My three years ago?
So when I started that, no my inportation, like I like the idea of thank you from China. You really package, you can't put our name on it.
So a few like when I posted on a few more so that I choose sam.
Goos for myself.
So honestly for me, I ran into those.
So that's like has to say so people stays because I tally run.
Yeah the other day, so I have to say it back so people. So a few months later I decided who to say, who's to start off? It gave somewhay frohow like I thought that the road shipper buying a less pictures from friends and families like people that hat ideal to that sees for satire and posting their pictures.
So I was able to what's.
What's the question? What's the question as a question?
All right, so I don't know my business. Now I'm gonna be from home.
So like I hae minies of Aquatin in that film that sell my stuff.
So I don't know if there is any.
Possibility of me getting an investor, because I think now, I think that's like a one.
Million, one million now the moments earlier.
Now, So I don't know. Yeah, I've been able to.
So I don't know if there's any possibilitating an investor for my kind of business.
If they will not do my business.
I've got through the necessary if I wassle exactly.
So yeah, So it's really goes to be at your state of business, your your startup, family, friends, guys that doing could do those seas capitals. That's the way I go to the best because people on the space might not know you. I might know you, but they might not know you.
So I would say this stay back.
To you have put it on Twitter and ask for investment on Twitter. You know some can pick it up and read. You know, put your income and expense, your relation and saying I want this some amount of money if I information, send you a DM and we talk. Put it on your space full on your page, put your returns and other advertise yourself, but in your startup. So people are going to be you're more risky in normal company. So but advertised toself as to what happens.
All right, let's get I do that. My lister John and mister Dent.
Are you invested?
And my question is I want you start to.
Explain to me. I'm our ish students like me and have financial security.
And what I'm doing presently is that I am athleting for companies a sales cass.
What ye are the level? That's my advice is to focus on your education. Came to the good degree. Let us skill from my university. Let us kill focused on that and come out. That's what advice you do. Focused on bigger skills that you achieve. And I'm not trying to blow you up, but you have You have the internet right, you can go on to the internet free resources learn about investing. I have a book.
I use every weekend. If you follow me, you would learn a lot.
Go to the internet and learn a lot, get trigger education, start something you know. But I can't.
I'm not gonna be able to show to tell you individually what to do.
It's too.
So.
If I have a question, I can answer, but I can't give you an individual steps. I'm not gonna buy something. I say, I'm just trying to do the stuff. But you have a question special to me, send to me and to answer right. But yeah, but let's say Amy, welcome, Ami, thank God let me I mean Ami van God going once and me thank God. I can hear yourself. Just go ahead, thank you so much, say.
Very Michaelstone is ver simple.
I'm just.
My first NY best in index forms in X forms, I don't know, Yeah, I intend to. I was giving three options. One is brought in best forms, the one is the thing the regular in best forms, and.
The last one is not. So I was just thinking which one is It's should I go for because.
I know that the economy boom like going to happen under them.
Really can't answer that question because you're asking what to catch with you by s by Medes or BMW and Audi. Well, you can answer that question. We can only say what do you want to do with the car? If you want to go long distance, to buy a bus. If you want to go short distance, you know, buy a coup So the answer is that what the.
Banks I want to do very well?
And it just do very well. You have elons, So tech is gonna do very well. Okay, what if you buy the index, you don't have to worry which wants your band because you're buying everything. But NASDA NASDAK is it heavy, SMP is SMP five from the stocks right now is textive stocks.
So index pience.
You are buying everything, so don't working about the individual or another the COMPREHENSI are doing well. You're buying everything. But that's like it's tech heavy. That's just the answer for you. So if you don't know what to buy, buy index. If you think America or A, well so that would give.
You access or exploture.
To that market.
Yeah, that works all right, folks.
Thank you so much guys for being here. Will be here three hours building and not talking about to do your budgets, how to convert your active to your passive income or big guys who take it into practice and get it done will come back next week and will tr to do it again. Thank you so much, guys,