Speaker 1: Hey, focus's give me a handle if you can hear me,
Speaker 1: you guys, give me a hand. Yeah, there we go. Okay, guys,
Speaker 1: sorry about that. We had a technical issue or fixed.
Speaker 2: And we're good to go.
Speaker 1: Uh. We are live.
Speaker 2: Now on Twitter.
Speaker 1: I's going to get the YouTube guys up and running
Speaker 1: because we're gonna do visual as well. So thank you
Speaker 1: guys for all being here. I appreciate it. Again. Welcome
Speaker 1: to another money space with me Caluaja this money space
Speaker 1: and of course on this space, and we're talking about money,
Speaker 1: capital markets, and of course the economy.
Speaker 2: But this week, especially this week, of course say.
Speaker 1: This, and I think next Sunday we're gonna be talking
Speaker 1: about should we say your money? Right? We were talking
Speaker 1: about Germany, how you can plan out your budget, what
Speaker 1: to look out for four years, ended on of course
Speaker 1: twenty five. So again I put a YouTube link it's
Speaker 1: on their Life because I want to talk about some
Speaker 1: visuals that will literally make sense for you guys as
Speaker 1: we go along.
Speaker 2: So I have shared earlier on those tweet and.
Speaker 1: Again guys, I'm gonna talk too much. It's really your space.
Speaker 1: If you guys have questions about basically how to plan
Speaker 1: to what it is your chance to send it to
Speaker 1: me and we talk around it, right, but let me
Speaker 1: just share it. So if you're on YouTube, it's easier
Speaker 1: you can see the visuals. Otherwise, I also share the
Speaker 1: visuals here on Twitter, but it's going to take some time. Right,
Speaker 1: if you look on the space on each like tweet
Speaker 1: and I'm gonna do it again. I gave you what
Speaker 1: to do for twenty twenty four as you're going to five, right,
Speaker 1: how you can if you what has happened in the pasture,
Speaker 1: and how you can set yourself up for what's gonna
Speaker 1: happen in the new year. That's all we try to
Speaker 1: do this space, right, So there are lots of past
Speaker 1: looking at your income, your expenses, your net worth, and
Speaker 1: then building out a budget, building out egenssive funds, and
Speaker 1: sort of tying that all into a plan to a
Speaker 1: program that essentially what we want to talk about today,
Speaker 1: and just focus on Twitter. I can retreat that particular
Speaker 1: trend on what you want to do first. But if
Speaker 1: you've got your pen, you've got your paper, essentially you
Speaker 1: just tell you what how you want to basically go
Speaker 1: about this, right, So if you're writing down and I'm
Speaker 1: just I'm going to repeat this all over and over,
Speaker 1: but if you're writing, then I'll just start with this
Speaker 1: right to You've got to have a plan, right, I
Speaker 1: want to have a plan, like a simple plan. What
Speaker 1: do you think you want to achieve into the five?
Speaker 1: Very very simple. It could be that you don't like
Speaker 1: to increase your income. It could be like want to
Speaker 1: be desk free. It could be you want to go
Speaker 1: to get at home. But just have a plan that
Speaker 1: you can visualize. And that's just I want you to
Speaker 1: have a target that's going to be you're going to
Speaker 1: chase down into into the five. But then I want
Speaker 1: you to see how you're going to get to That
Speaker 1: plan is what I'm going to give to you now.
Speaker 1: So the very first thing I want you guys to
Speaker 1: do this you're doing good to be four, it's going
Speaker 1: to apply to into the five. The first thing you're
Speaker 1: going to do is to take a piece of paper
Speaker 1: and excelciate or no program and trying to capture all
Speaker 1: the income, all the income that you're going to make.
Speaker 1: So you want to capture all the income that you
Speaker 1: want to make, right, and that income is going divide
Speaker 1: the income into three specific three specific points three specific
Speaker 1: one is going to be active income is see TIV
Speaker 1: active income, so your active income, it's what I want
Speaker 1: you to write down active income. The second one is
Speaker 1: going to be your passive income passive income, So passive
Speaker 1: income is going to be income that you're gonna make
Speaker 1: when you're not at work. Let's say you've got shares,
Speaker 1: you got cash, that's your passive income. Then the last
Speaker 1: one is going to be your investment income, so that's active,
Speaker 1: that's passive, and then investment income. All three don't get
Speaker 1: to write that down. And if you look on YouTube right,
Speaker 1: I'm sharing that. We will also copy that. I'll also
Speaker 1: share on Twitter. So YouTube the infographic is there, you
Speaker 1: can see active, you can see passive. If you're on YouTube,
Speaker 1: you can see it. But I'm going to share also
Speaker 1: on Twitter on this particle costream, so you guys also follow. Right,
Speaker 1: So when we first and first, like I said, write
Speaker 1: out act your income and income divine in committed for
Speaker 1: your active income, your passive income, and of course your
Speaker 1: investment income. So we've got that right now, let's not
Speaker 1: go into expenditures. You're also going to write down your
Speaker 1: expensionses are just headers you're gonna have an header for expenditures,
Speaker 1: so it's going to be your discretionary expenses and your
Speaker 1: non discretionary expenses. So just two items for expenses, your
Speaker 1: discretionary and your non discretionary. Right, you got that down,
Speaker 1: So now you should have either five or four elements.
Speaker 1: One's going to be your active income, one's going to
Speaker 1: be your passive income. They're gonna have total income, they're
Speaker 1: gonna have discussion expenses and non discussion expensive. So now
Speaker 1: I'm gonna share on a Twitter space as well. So
Speaker 1: if you're on Twitter, just look at the latest to
Speaker 1: are just posted. You should see how I want you
Speaker 1: guys to do it. Just share now on Twitter. So
Speaker 1: if you look at an infographic on Twitter, you don't
Speaker 1: see number one active income, so you're gonna see passive income,
Speaker 1: and then of course that's gonna give you your total income.
Speaker 1: Do you guys see If you guys give me a
Speaker 1: tombs up, iitiate it on Twitter and it's also live showing.
Speaker 1: It's also live streaming on YouTube as well. So if
Speaker 1: you can see that diagram and give me your tombs
Speaker 1: up that you can continue. Just go to the last
Speaker 1: two they just shared. You're gonna see your active you're passive.
Speaker 1: Can you guys see that? Give me your tombs up
Speaker 1: if you can perfect. So we have one, two, three,
Speaker 1: four five items. When you while you your entire reason
Speaker 1: for working, for having a job, I won't even you
Speaker 1: have a job, either you own your own business or
Speaker 1: you work for someone. This is exactly what you're trying
Speaker 1: to achieve. Once you're trying to achieve Number one. You
Speaker 1: want to earn income. So you see number one is
Speaker 1: Number one is your active income. That is all the
Speaker 1: income you make because you are actively present. That's going
Speaker 1: to be your salary. And if you own your job,
Speaker 1: your own business earnings, that's number one active. So if
Speaker 1: you go to work, or your own partner in a job,
Speaker 1: or you are busiting, you are the CEO, you own
Speaker 1: your own company, that's active income. Number two is your
Speaker 1: passive income, that income you make when you are not there.
Speaker 1: So that income you're mad an income when you are
Speaker 1: not there at all. That's going to be like your rent,
Speaker 1: your dividends. You own a home in London, your home
Speaker 1: holding a bar, you're getting rents from those places. Your
Speaker 1: dividend income, that's your dividend income. Total of both, it's
Speaker 1: going to be your total income total income. Right, You're
Speaker 1: objective in life is to number one, convert that active
Speaker 1: income into passive income.
Speaker 2: That's why you're working.
Speaker 1: When you have a job, or when you work for yourself,
Speaker 1: your own money, You've got to convert that income into
Speaker 1: income that comes when you are not working anymore. So
Speaker 1: that means that if I end a salary, I take
Speaker 1: my salary. Of course I have to eat, of course
Speaker 1: I have to buy clothes and all that, but I
Speaker 1: have to invest that salary so that I can then
Speaker 1: buy into a house or into a business that over time,
Speaker 1: the revenue I get from my passive income to perceive
Speaker 1: the revenues I get from my active income. When your
Speaker 1: passive income supersed your active income, that's when you retire.
Speaker 1: So retirement is not a number. It's not sixty five,
Speaker 1: it's not fifty. Retirement is when your passive income is
Speaker 1: more than your active income. If it happens at twenty
Speaker 1: years old or an one hundred years old, that's when
Speaker 1: you retire. So your total income is not material. What
Speaker 1: is material for you is to convert your active income
Speaker 1: your salary into passive income rental digdens. That's what you
Speaker 1: are working for nothing else. So what's the problem with
Speaker 1: most of us have our promise number four at number
Speaker 1: three our expenses. And you see how we broke down expenses.
Speaker 1: We brought the EXPERSSI into discretionary expenses and non discretionary expenses.
Speaker 1: What's the difference. Non discussionary experenses are the expenses that
Speaker 1: we must make. We can't avoid them. So we have
Speaker 1: to pay food, we have to pay rent, if you're
Speaker 1: false sake, we have to pay the doctor. You can't
Speaker 1: avoid these expenses for your discretionary expenses are what you
Speaker 1: decide you want to spend money on. So the idea
Speaker 1: is this, your passive income has got to pay for
Speaker 1: your non discretionary expenses. That's your shot to medium term
Speaker 1: goal before you retire. So when you end active income
Speaker 1: number one, you want to convince active income to passive
Speaker 1: income number two. In doing that, you've got to ensure
Speaker 1: that your passive income number two is able to pay
Speaker 1: your number three with the non discursionary expenses. Now, when
Speaker 1: you start off life, you're going to find out your
Speaker 1: total income is worth's paying off your non discursionary expense
Speaker 1: because you don't have more passive income if you just
Speaker 1: start work today. You end a lot, you end salaries,
Speaker 1: but you have no assets, so you work for a
Speaker 1: bank for us as legals, you can't pay the million
Speaker 1: narre of a month. That's your active income, but you
Speaker 1: have no assets. You have no car, you have no
Speaker 1: house your own, so no passive income. So your total
Speaker 1: income is paying your number four and your number three.
Speaker 1: Your job short to midile term is to try to
Speaker 1: ensure that your passive income can pay your number three,
Speaker 1: so that what you are HEARDing from your investments can
Speaker 1: at least cover what you must spend. That's your half retirement.
Speaker 1: If you can hit that, that means that you are
Speaker 1: halfway there, because if you stop working, you can at
Speaker 1: least pay your expenses. This is what we call the
Speaker 1: emergency fund. When you create an emergency fund, it is
Speaker 1: three to six months of number three. So your emergency
Speaker 1: fund is three to six months of your non discretionary expenses.
Speaker 1: So when you start to work active income, you want
Speaker 1: to open up a SAVIS account and saving that account
Speaker 1: and amount that can cover at least three times your
Speaker 1: non discretionary expenses. So you see what we're induced brought
Speaker 1: in emergency funds. We're brought in active income, passive income,
Speaker 1: discussion expenses, and we're brought in retirement. This is the
Speaker 1: only infographic you need for your job, whether you work
Speaker 1: for yourself where I work for a company. This is
Speaker 1: all you have to know. Print this out, you put
Speaker 1: it on your mirror, and every day you ask yourself,
Speaker 1: have I converted active income to passive income? Have I
Speaker 1: is my number my passive Incomember two? Can it pay
Speaker 1: my number three? That's your emergency fund. So it's not
Speaker 1: a number, your emerency not a number. It is three
Speaker 1: to six months of whatever you say your number three is.
Speaker 1: So if you say a number three includes traveling to
Speaker 1: London for summer, then the number two, which is your
Speaker 1: passive income, has got to pay for number three. You've
Speaker 1: got to save enough. But if you are prudent that
Speaker 1: you say no, no, no no, my number three, which is
Speaker 1: my non discription expenses, has to only cover things that
Speaker 1: are really fun to me, food, rent, medical. Then it
Speaker 1: becomes smaller. So the amount is then save as amensity
Speaker 1: fund becomes much much much smaller. So it's your call.
Speaker 1: There is no best practice for this. What will two
Speaker 1: that you decide When you decide, you create your budget
Speaker 1: because it's your budget. When you do this info graphic,
Speaker 1: you create a budget to then save on number three
Speaker 1: and number four. You just don't create a different media.
Speaker 1: You create a budget because you want to keep your
Speaker 1: number three and number four in sync. Folks, I don't
Speaker 1: know be the only one talking. So let's let's talk
Speaker 1: about if you have questions on this chat, let's hear them.
Speaker 1: I'm gonna go back to YouTube in case you guys
Speaker 1: have put something there, So we talk about just this
Speaker 1: particular child. Let me see then if you have a
Speaker 1: question on this, we can then go further now into
Speaker 1: the other parts of this bay, and we're just going
Speaker 1: to be your budgets, your reviews, and how you can
Speaker 1: ensure that you are capturing this properly. Do it, do something,
Speaker 1: you can follow it. It's gonna go with an Excel
Speaker 1: sheet or not pocket. It's not gonna be technical or
Speaker 1: don't make it to do a complex. Get your income.
Speaker 1: I'm going to repeat again, Get your income right, I'm
Speaker 1: on your income divided into active passive. I didn't put
Speaker 1: investment income here, put odd investment income, so you have
Speaker 1: three income lex active passive. Investment. Investment is also passive.
Speaker 1: If you can't separate them. If not living, impassive, then
Speaker 1: create your experience is number four and number three your
Speaker 1: discretionary and non discretionary. So what you are trying to
Speaker 1: accomplish again, like I said, is to move your active
Speaker 1: number one to your past number two. That's the first
Speaker 1: thing on that accomplished. The second thing want that complience
Speaker 1: to ensure that you're number two. You're passive, can pay
Speaker 1: your number three your non discussionary expenses, and that's your
Speaker 1: emergency fund. That's your first fund that you build when
Speaker 1: you start to work. You don't start to invest. You
Speaker 1: want to do your emergency fund first before you start
Speaker 1: to invest. Make any sense, guys? Okay, perfect, So who
Speaker 1: wants to speak requests becomes to be interactive. I'm reading
Speaker 1: your cheap, but I do want it to be interactive.
Speaker 1: If you have any questions, I want to hear them.
Speaker 1: Let me see. So just to clarify, yes, that's what
Speaker 1: I said. So investment is going to be time you dig.
Speaker 1: Investment is going to be part of your passing. If
Speaker 1: you want, you can separate it. So I can separate
Speaker 1: investments from say rentals. There's the reason for that. What
Speaker 1: that's going to be too, thank, I think yes, correct.
Speaker 1: So your non discretionary are going to be another question
Speaker 1: from you. Actually, your non discretionary expenses, it's.
Speaker 2: What you say it is.
Speaker 1: Food clearly is non discretionary. But if you don't say that,
Speaker 1: for instance, that you're seremoney home to your family is
Speaker 1: not discretionary, but we have to put it there as well.
Speaker 1: The point is this, whatever you say is your non discretionary,
Speaker 1: then it has to be covered. But at least three
Speaker 1: times of you know, three to six times savings in
Speaker 1: your but just fund. Your emergency fund is what covers
Speaker 1: number three. And that's what you first of all build
Speaker 1: in your passive before you then talk about the retirement.
Speaker 1: Your long term goal. The long term goal if it's
Speaker 1: not working by twenty five, the long term goal is
Speaker 1: that when you assays sixty five or whatever age it is,
Speaker 1: that your number two replaces your number one. Rich people
Speaker 1: the way you know someone as is rich, they have
Speaker 1: more passive income than an active income. Elon Musk is
Speaker 1: rich today. If he stops working today, he's not gonna
Speaker 1: go broke, right, because he's got equity in companies that
Speaker 1: would keep on paying him.
Speaker 2: And didn't.
Speaker 1: It just stops working today. He's not gonna go broke.
Speaker 1: That's the point, Oliver, how you doing? Welcoming takes again
Speaker 1: for joining, and I appreciate that. What's your mind?
Speaker 2: Well, I just wanted to link in likely you.
Speaker 1: The strategy.
Speaker 3: I look at saying your expenses and intention of plying
Speaker 3: for next seas.
Speaker 1: So I just wanted to support exactly. I mean, it's
Speaker 1: because I think people have a lot of words fly around.
Speaker 1: Sometimes people say emergency funds, people say actively income. I
Speaker 1: want to bring a lot together. That's what this infographic
Speaker 1: assure you. Where is your budget? Your budget comes in
Speaker 1: your three and your four. Emergency phone comes in your
Speaker 1: number two and number one. So it's all in this chart.
Speaker 1: If it's the only chart you want to take away,
Speaker 1: you basically have learned everything in it. Right, So I
Speaker 1: see also a question I've answered one of the questions
Speaker 1: that I see, as you're gonna just this chart, I
Speaker 1: answer as most of them. You decide, was it not discretionary?
Speaker 1: You decide right, if you decide that's what you have
Speaker 1: to budget for. But I would say this, keep it.
Speaker 1: Keep your nondiscretionary only for things that you think you need,
Speaker 1: all that are important.
Speaker 2: If send the money to your If pay for gym.
Speaker 1: Is hellwise correct, then it's not discretionary. Great, the gym
Speaker 1: is healthy, so it's not an expense. But you do
Speaker 1: you want to pay for what? How much do you
Speaker 1: do for gym? That the best gym you can go for?
Speaker 1: Can you save monjipa jim the other things you want
Speaker 1: to ask yourself. But as a whole, pay for gym, Yes,
Speaker 1: can be non discretionary. So let's answer your question digit.
Speaker 1: So I want to move on to on the part
Speaker 1: of now how we want to do the financial health
Speaker 1: check for twenty five. But I want to make sure
Speaker 1: we understand this chart before I then change it out
Speaker 1: and then plug in the other one. So if I
Speaker 1: stand all the questions, let's now, I'm gonna change the
Speaker 1: YouTube a swell do the picture there, and I'm gonna
Speaker 1: copy this out so that I can shade also on Twitter.
Speaker 2: Then we can follow.
Speaker 1: This is how we're gonna go step by step in
Speaker 1: twent twenty five. What I want you guys to do
Speaker 1: step by step into E twenty five. Right, what you're
Speaker 1: gonna do. You're gonna review your twenty twenty four and
Speaker 1: then you're gonna do your twing twenty five. That's what
Speaker 1: I'm doing right now. So let's go and I'm gonna
Speaker 1: copy this. I share this as well on my page.
Speaker 1: But we're gonna copy this and then we're gonna share
Speaker 1: as well, so you guys can follow again. So let
Speaker 1: me change the infragraphic we have on YouTube. It's gonna
Speaker 1: be this one now, So we change this guy out
Speaker 1: and then we're gonna plug in our financial goals. Want
Speaker 1: you guys gonna set up financial goals right So, if
Speaker 1: you're on YouTube, you're single, we're talking about setting up
Speaker 1: your financial goals. And like I said, the financial goal
Speaker 1: can be what you want it to be. You can
Speaker 1: have multiple financial goals. You can have one single financial goal,
Speaker 1: but it's got to be measurable. It's got to be
Speaker 1: something that you can know that you have achieved it.
Speaker 1: If you say I want to be rich, that's not
Speaker 1: a financial goal because we don't know I want to
Speaker 1: have X amount of money. It's a bit more direct.
Speaker 1: Put by a date. So have a financial goal and
Speaker 1: put a date to it. That's how we know you're
Speaker 1: best leader. Thank you for the information. Will invest with them? Plitate? Yes?
Speaker 1: Is it safe to invest in is it also safe
Speaker 1: to invest in high risk investment in banks? Banks typically right,
Speaker 1: don't offer you high risk investments. Bank gives you the
Speaker 1: chance to deposit money if you are scared of putting
Speaker 1: in the bank, to put it only according to antic
Speaker 1: or every su protection right if you're that scared. If
Speaker 1: you put your money in the bank in Nigeria, you
Speaker 1: are covered up to five million. If you put your
Speaker 1: money in the bank in America, you're covered up to
Speaker 1: two and fifty thousand. But bank deposits are always in
Speaker 1: short after that limit, so if you just put them
Speaker 1: in the bank, it's good. But we want to ask
Speaker 1: yourself when you put the money into the bank, is
Speaker 1: it giving you passive income, not savings account? Not correct account?
Speaker 1: But you want to invest with the bank, Like I said,
Speaker 1: deposits or something is treadable so you can end that
Speaker 1: passage income back to you. That's the point of past income.
Speaker 2: A bio me, how you doing.
Speaker 1: Let me take a question for me, Yes, Barby, go ahead,
Speaker 1: what's up? Okay?
Speaker 4: So not a question really, And I've been doing some
Speaker 4: readings actually, and I think one of the most important
Speaker 4: things in actually defining discretionary and nondiscretionary views a hole.
Speaker 4: So defining wants from needs because a lot of people
Speaker 4: who actually more duty needs close ones, as in, you
Speaker 4: can't trade. What is your wants which is no important,
Speaker 4: you can live with us, and what is your need?
Speaker 1: I agree? That's just yeah, come back again and that
Speaker 1: that once I need. It's a very very simplified way
Speaker 1: of saying discretionary and not discretionary. So if you want
Speaker 1: something that's going to be your discussionary. You know I
Speaker 1: want a Rolls Royce, Well that's discustionary, but I need
Speaker 1: to eat food that's non disprastionary. So Abby's excellent way
Speaker 1: of putting it in non financial tells your number three
Speaker 1: and number four very important because you build your budget
Speaker 1: around puject defined as non discretionary and discretionary. Remember we've
Speaker 1: talked about two and three is your emergency fund. That's
Speaker 1: the emgency fund. Whatever you're putting number three has to
Speaker 1: be covered by your emergency phone. What I mean cover
Speaker 1: it means that you want to create a fund that
Speaker 1: you save two to three times whatever you put in
Speaker 1: number three. You do that before you invest. You don't
Speaker 1: invest before doing your emergency fund. Your emergency phone comes first,
Speaker 1: before you invest Why, Because you can lose your job,
Speaker 1: forge get a new job and severe a month or two.
Speaker 1: If you go ahead and you invest without doing emergency fund,
Speaker 1: when you lose your job, you're forced to sell your
Speaker 1: investments to cover for lots of income.
Speaker 2: First of all, building fun, even if it's one month
Speaker 2: before you.
Speaker 1: Start to invest. Don't jump and invest without buildings. All right, guys,
Speaker 1: So I'm just gonna share, let me go toget Bank,
Speaker 1: call it high buy what's on your mind?
Speaker 5: Hildo, Thanks so much for all in this space. I
Speaker 5: think it's such an amazing opportunity to tap into your
Speaker 5: your wealth of knowledge and really really appreciate that and
Speaker 5: appreciating time.
Speaker 2: You're putting it into this. My question is, yes, we're planning.
Speaker 3: Towards twenty five with the like hyper inflationary environment we.
Speaker 2: Have now, I mean earlier on this year there was a.
Speaker 5: Period where over a weekend my power as at the
Speaker 5: coast of my power went up by almost two hundred percent.
Speaker 5: So you know, like, what would you advise, what would
Speaker 5: you advise on the way to to plan for budgeting
Speaker 5: for next year? Like high should we think about it
Speaker 5: in terms of our budgeting for the non discretionary expenditure
Speaker 5: and all that.
Speaker 1: So let's let's let's use that to turn into if
Speaker 1: you just guys, are just shared on my Twitter page
Speaker 1: now the how to do the budget?
Speaker 2: You know I've gone into.
Speaker 1: If you look at the Twitter page now bangla, you
Speaker 1: see we have your shared chapter to this set up
Speaker 1: my book how to set about traditional goals. I went
Speaker 1: out reve your last year's budget. So what you want
Speaker 1: to do? Great question, not just power. When you do
Speaker 1: a budget for the year in review, you are saying
Speaker 1: you're doing put to be five. You are saying I
Speaker 1: want to spend ten era on fuel, but you do
Speaker 1: you on the future. The future could have those for
Speaker 1: the cost of field is going to go up. So
Speaker 1: look at that chat again. What you want to do
Speaker 1: is to budget, like I said, three to six months
Speaker 1: non excretion expenses in a separate account, three to six
Speaker 1: months non discretionary expenses. Fuel is going to be a
Speaker 1: non discretionary expense. So if you have an emergency fund
Speaker 1: and suddenly power went up, you had something that you
Speaker 1: had to firstophor tap into before you go back to
Speaker 1: your budget, and you basically redo your entire budget. The
Speaker 1: cost of fuel increases, material it's material to your entire budget.
Speaker 1: That means they've got to do a new budget. The
Speaker 1: fatalment does subnational budget. You've got to do the same thing.
Speaker 1: You've got to go back to your budget, cut away
Speaker 1: some expenses and take more money and locate towards what
Speaker 1: you call a non discretionary expense. But remember, if you
Speaker 1: earn more from active it's also part of within our plan.
Speaker 1: So the point I make is this, there are two
Speaker 1: ways to meet on foreseeing expenses. Number one is to
Speaker 1: plan ahead for them so you have more money in
Speaker 1: your non discussion expenses. But to call number three. Number
Speaker 1: two is you can go into debt, which we don't
Speaker 1: really like, but you have to do it. And then
Speaker 1: number then again you can say, okay, you want to
Speaker 1: then to try to increase your active or your passive
Speaker 1: you understand. So three ways, three ways, or number one
Speaker 1: have more money in your in your emagency phone, number
Speaker 1: two borrow, borrow well, or number three you want to
Speaker 1: increase your Number one about which is your active or
Speaker 1: your passive income? Does that help her?
Speaker 6: Yes?
Speaker 2: It does, I really appreciate it. Yeah. Please Yeah.
Speaker 1: The whole idea is to want to make everything automated.
Speaker 1: We don't want the guess work to go with it.
Speaker 1: We don't want to guess what to say. Oh, I'm
Speaker 1: gonna do this. I'm gonna automate everything. So if you
Speaker 1: are paying at thousand and are for diesel, it goes
Speaker 1: to five thousand. You can't end four thousand in a day.
Speaker 1: Nor can you just walk into a bank. If you
Speaker 1: don't have credit card, you can't just get four thousand.
Speaker 1: So your emergency form becomes your first line of defense
Speaker 1: when you go there first of all and get the
Speaker 1: funds to.
Speaker 2: Pay for the increase in diesel.
Speaker 1: Why she didn't say how can I you do my
Speaker 1: budget or how can I anymore? That's gonna be how
Speaker 1: you're going to address that. So I've shared now create
Speaker 1: bank and hanging there if you want to put's say yeah,
Speaker 1: So I've shared now the financial health check on Twitter
Speaker 1: and it talks about review. So let's do the review
Speaker 1: for this year. Well, I'm gonna try. We're gonna review four.
Speaker 1: The first thing you want to do is look at
Speaker 1: your spending, and guys, it's on Twitter, it's also on YouTube.
Speaker 1: You don't have the first page that's pay for the
Speaker 1: three on my book, let's talk about your money. It says,
Speaker 1: the first thing you do look at your spend did
Speaker 1: did you track expenses during the year? Do you know
Speaker 1: where all your any income went to? What were your
Speaker 1: three expense items? Did you identify them to reduce them?
Speaker 1: So you've got to start now for twenty five to
Speaker 1: answer these questions. Did you track your expenses? If you didn't, well,
Speaker 1: twenty five you've got to track every single cobo that
Speaker 1: goes from your active on passive to be spent. You
Speaker 1: get to the book or an Excel sheet. Every single
Speaker 1: cobo that you spent, you write it down. You do
Speaker 1: it for ninety days. Write down your expenses. Then this
Speaker 1: mos down. Guys, write down your expenses. Then you cateicle
Speaker 1: rise those expenses. So if you write down went to
Speaker 1: mister Biggs, I bought ice cream, I bought suer I
Speaker 1: went to the club, all that is food. But what
Speaker 1: category there's eating out? There's eating it. If you buy
Speaker 1: food in the grocery or you eat food outside, that's
Speaker 1: the categories you eat in eat out. Categorize then so
Speaker 1: number one, write down your expenses. Number two, categorize your expenses.
Speaker 1: That's the learning point from this first point there, look
Speaker 1: at your spending. Did you track expenses? So what you
Speaker 1: want to do the learing from number one point there
Speaker 1: is number one track all your expenses. Number two categoraries
Speaker 1: your expenses. Why do you do this because when you categorize,
Speaker 1: that's when you can then apply in budget for each category.
Speaker 1: That's how you do a budget. So that's an example.
Speaker 1: I have five thousand ner that I spent. I write
Speaker 1: down exactly how I spend that five on era. I
Speaker 1: categorize food. I bought groceries for a thousand, but I
Speaker 1: et out for two thousand. I've categorized. Then when I
Speaker 1: do a budget in twenty five, I will then say
Speaker 1: do I want to spend two thousand eating out? If
Speaker 1: I say no, I reduce two thousands to one thousand.
Speaker 1: Then where do I apply that extra one thousand? I
Speaker 1: can say, Okay, I'm gonna take it to play for
Speaker 1: my diesel because this has gone up. So you've got
Speaker 1: to be scientific about it. Write down the expenses. Every expense,
Speaker 1: you give drive, write it down, you give one to
Speaker 1: your girlfriend, write it down. You let's more money, write
Speaker 1: it down every expense. Then categorize lots of apps to
Speaker 1: do it for you for free lots of apps for
Speaker 1: you for free. You categorize. Then when you do the budget.
Speaker 1: What a budget is is you are assigning figures to
Speaker 1: a category to be spent in the future. That's a budget.
Speaker 1: It's not complicated. So diesel expenses here, I spend ten thousand,
Speaker 1: I categorize that as utilities.
Speaker 2: Next year, Am I going to spend more or less?
Speaker 1: If I'm going to spend more maybe fifteen thousand, Where
Speaker 1: will the extra five thousand come from? You go back
Speaker 1: to your categories. Wow, I'm spending money on Suya, so
Speaker 1: sher money has got to go. We're going to go
Speaker 1: from Suya to diesel or you go to your income. Oh,
Speaker 1: I only work for forty hours this year, so I'm
Speaker 1: going to work for fifty hours so I can end
Speaker 1: more to eat Suya and buy diesel. It's all got
Speaker 1: to tie in. If you don't have a budget, you
Speaker 1: will simply do exactly what you've done. You take your
Speaker 1: money from Suya to buy diesel. Because you don't have
Speaker 1: any budget, you still spend on Suya. Then you go
Speaker 1: into debt. Debt is the last, last, last thing I
Speaker 1: want to do, right, it's necessary. We want to keep
Speaker 1: it as a last resort. So that's your plan. Categorized
Speaker 1: expenses for record expenses, categoris expenses, assign numbers to your categories.
Speaker 1: That's your budget. So let's look at number two. What
Speaker 1: about your budget process. Did you set up a budget.
Speaker 1: I've just told you how to do a budget now,
Speaker 1: so you will not do that for twenty five. Did
Speaker 1: you follow your budget? That's the hard part. Did you
Speaker 1: maintain a subplus budgets in the month? What months? Why
Speaker 1: did you have a subplus? Why did your income go down?
Speaker 1: You've got to ask those questions and answer them because
Speaker 1: you want to know why you made a subplus. Sometimes
Speaker 1: you could say, okay, I want to spend more money
Speaker 1: on on on I want to spend ten thousand on
Speaker 1: utilities PMS. But to spend less did you spend less
Speaker 1: because you used the bus or because you could not
Speaker 1: afford to spend more. You've got to ask those questions,
Speaker 1: answer them, then you do your budget.
Speaker 2: It's got to eat guys. You've got to full of
Speaker 2: do theology.
Speaker 1: You can't guess it, you can't hope it, write it out,
Speaker 1: categorize it as sign a number, and then implement so number.
Speaker 1: So it's on a budget did your income go up?
Speaker 1: Did your expenses come down? It's asking why you.
Speaker 2: Are able to meet your budget?
Speaker 1: Did you need your budget because you end more, thus
Speaker 1: you are able to spend more, or did you cut
Speaker 1: down your spending thus you're able to keep your budget going?
Speaker 1: Asking that question to you, how did debt picture into
Speaker 1: your plan? Did this current YEA? Did you borrow to
Speaker 1: meet your budget? Or did you cut down expenses? Ask
Speaker 1: that question and answer it. Did your debt go up?
Speaker 1: Did your debt come down? Favorit? Important questions because see
Speaker 1: what you What we're doing here is that we're asking
Speaker 1: this question because the answers tell you what to do
Speaker 1: in twenty five. If you are surviving on debt, what
Speaker 1: is happening with you? Words that first chance to assure
Speaker 1: you is that into the it's using your active and
Speaker 1: passive income to pay your discretion and discretion. You are borrowing.
Speaker 1: You are bringing loans into your active income, and the
Speaker 1: loan is not income, right, So when you're bringing loan,
Speaker 1: you get cash, but you are also increasing your non
Speaker 1: discretionary expenses. If you borrow a thousand, it comes in
Speaker 1: as passive income, but it goes out as non discretionary expenses.
Speaker 1: But you're active is just coming in. It's only you.
Speaker 1: Any salary is coming. But when you borrow, it is
Speaker 1: two legged, right, so you can borrow short term to
Speaker 1: meet and knee and all.
Speaker 2: The body member.
Speaker 1: Borrowing is front loaded consumption. When you borrow today, you
Speaker 1: are front loading your consumption. So you we go back.
Speaker 1: Did your does go up and down? Imedn't? High content
Speaker 1: and balance sheet? So those two questions number one number
Speaker 1: two talk about your income and bringing death to show
Speaker 1: you how to do a budget. So let me go
Speaker 1: back to the sheriff. What's sheriff, Hey, sheriff, that's say man, queen.
Speaker 1: Let's that's the queen, queen, k how are you doing today?
Speaker 2: Hi?
Speaker 1: Hi, hi, call you.
Speaker 7: Thank you so much for I'm doing great. Thank you
Speaker 7: so much for what's nice, and thank you for granting
Speaker 7: my mate.
Speaker 8: Yeah, I really love this space because I have so
Speaker 8: many things I want to ask you for clarity, and
Speaker 8: I mean I would love to share it. And then
Speaker 8: probably when i'm all, when I'm freak and I ask
Speaker 8: you to.
Speaker 7: Ask you, But I don't know if this time I
Speaker 7: should go ahead or.
Speaker 1: Wait, that's a question you want?
Speaker 7: Okay, Okay, thank you so much.
Speaker 1: Okay, now, no about someone who.
Speaker 7: Haven't handled a big amount of money. There's assume one
Speaker 7: hundred thousand like India currency a hundred thousand, and are
Speaker 7: someone I've posted that that.
Speaker 8: I will handle this and it just landed due to
Speaker 8: probably what he or she's doing, and the money just land.
Speaker 7: And the person you know at that point, there's these.
Speaker 3: Spirits that you know, something you've not talked before, something
Speaker 3: you're not handled.
Speaker 7: There's how you feel, like me personally, I feel things.
Speaker 7: I will feel like I want to go crazy. I
Speaker 7: feel like, you know, my head is big.
Speaker 1: I don't know.
Speaker 7: I feel like the money is bigger than me. I
Speaker 7: don't know. I'm just saying it because that's why I fulfilled.
Speaker 8: And because of that, I will not be able to
Speaker 8: give accountability on how to spend the.
Speaker 7: Money disting, and it's a problem. What will you advise
Speaker 7: such situation?
Speaker 1: I ever, that's a great question, Quinn. Great question because
Speaker 1: it happens to everybody on earth, everybody. The first time
Speaker 1: I made quote unquote big money, I made millions. I
Speaker 1: didn't expect it. Someone I wanted to buy something I
Speaker 1: knew someone that was selling. I just brought them together.
Speaker 1: I got a commission. I had no idea I was
Speaker 1: going to mix that much money in my life. Do
Speaker 1: you know how I spent it. I went to London,
Speaker 1: I went to safages. I bought couchie slippers, I bought
Speaker 1: designer clothes.
Speaker 2: I write, I know, I enjoyed.
Speaker 1: And this is why I do these things is because
Speaker 1: I'm talking my experience. Let nobody fo you. We are
Speaker 1: all emotional. Humans are emotional. We like to spend, we'd
Speaker 1: like to look good, want to show. But experience is
Speaker 1: the best teacher, not your experience. My experience never learned
Speaker 1: from your experience. Learn from the experience of those that
Speaker 1: I told you, Hey, we've done that, been there, it's
Speaker 1: not worth it. So the way you want to treat
Speaker 1: a windfall income is first of all, you just lock
Speaker 1: it away first and first we have to change your mind,
Speaker 1: not your money, your mind. The book, the book I
Speaker 1: wrote right, the second chapter is behavior of finance. I
Speaker 1: put that in there for a reason. So if you
Speaker 1: can't change your behavior, you can change your with your
Speaker 1: own money. Money is the spirit if you if you
Speaker 1: respect money, it stays. If you just respect it, it
Speaker 1: goes away. So when you get money, the very very
Speaker 1: first you will do if you is to keep that
Speaker 1: money where you can't touch it well, and then think
Speaker 1: about here, what should I do about it? So you
Speaker 1: figures one hundred thousand er, Well, if you're in America,
Speaker 1: you buy your setingle deposit for say three months, women
Speaker 1: say next three months, you can't touch it. If an
Speaker 1: ijual you put in a physics posit so you can,
Speaker 1: so you can take time to exhale to see, Okay,
Speaker 1: what should I do? The One of the best ways
Speaker 1: to spend money is to pay down your debt, because
Speaker 1: if you pay down your debt, you can I regretted, right,
Speaker 1: it's when you pay down your dad.
Speaker 2: That's one hundred percent return on capital.
Speaker 1: So even if you don't know you have to spend money,
Speaker 1: you don't trust yourself, ask yourself, am I got any body? Yes?
Speaker 1: Go pay them, But it's not the best way, right.
Speaker 1: I would prefer that if you have into the budget
Speaker 1: and you have done this and you get to a
Speaker 1: hundred thousand, where would you put it? You know, there's
Speaker 1: active income, there's passive income, there's expenses, there's emergency fund.
Speaker 1: Where would I put this money? I'll put it green
Speaker 1: in my passive income. So if I buy something, the
Speaker 1: capital has gone away. So all our good guy's going
Speaker 1: to be returns, dibidends, returns if I spend it dibidends. Okay,
Speaker 1: I've enjoyed, but I still have my capital. So if
Speaker 1: I take my capital put the bank in Nigeria, Natia
Speaker 1: would pay you nearly tenty percent. So if you put
Speaker 1: a one hundred thousand in the bank, Nigeria will give
Speaker 1: you nearly thirty thousand. Okay, you even if you spend
Speaker 1: that thousand, if only spent one year's return. So but
Speaker 1: you've not touched your principle. So if you use my style,
Speaker 1: put the money in your passive income. So if there
Speaker 1: is a persily income for you, if you don't trust yourself,
Speaker 1: go and pay on the debt or lock the money away.
Speaker 1: But whatever you do, you've got to have a plan.
Speaker 1: And you can only have a plan if you have
Speaker 1: a budget. You can't walk your way into it and
Speaker 1: say when I get the time, I will do it. No, no, no,
Speaker 1: If you're not prepared, the money will go. So Quini,
Speaker 1: the only way you can find that spiritized making you
Speaker 1: spend money is not to have the money at all.
Speaker 1: If you ad income, do automatic investment into investment hotels.
Speaker 1: If you if you are if I go to get
Speaker 1: big money, already spend money, right you tell your bank
Speaker 1: and money is coming. Take this money and buy this
Speaker 1: for me, so the MOE doesn't come to you. But
Speaker 1: give yourself a chance to spend. Take ten percent and
Speaker 1: blow it's no problem. Take ten percent go haywire or
Speaker 1: ninety percent invested. Where humans we're not robots. We want
Speaker 1: to enjoy it, not to enjoy it. But take out
Speaker 1: ten percent for a few money they're don't blow it
Speaker 1: in the vertility of passive income, so that it's there
Speaker 1: for you year in, year out. Does that help quick?
Speaker 9: Yeah?
Speaker 7: That is very very helpful.
Speaker 10: But on the other hand, I've we talked about this
Speaker 10: in disgree It's gonna.
Speaker 7: Be funny bad. But I'm being.
Speaker 8: Real right, I'm not trying to make it look like, yeah,
Speaker 8: I'm being viewed now.
Speaker 7: You know some people will say if you put the
Speaker 7: money there, you know.
Speaker 8: You're appertun needs and probably you die.
Speaker 7: Is some clean It's only some clean. I enjoy it.
Speaker 1: I mean it's a great Again, Quinn, you're asking a
Speaker 1: very very great question.
Speaker 2: Look at it this way.
Speaker 1: What if you don't die and you get to sixty
Speaker 1: years old and you have no house, you have no income,
Speaker 1: you have no money for medicals. What happened then? So
Speaker 1: remember that I want to put the first chap up
Speaker 1: with the one to five. You are. You are investing
Speaker 1: money to create passive income for yourself, not for your
Speaker 1: next of kin, for yourself. If you when you right,
Speaker 1: and I'm not sure how you old you are, but
Speaker 1: you're live very young, you have to you have years
Speaker 1: that you're going to work. Where you work, You've got
Speaker 1: to compound your income so that you have income flow
Speaker 1: for you when you stop working. So think about that,
Speaker 1: that it's not just investing for your next of kin,
Speaker 1: but for yourself when you are sixty, even if you
Speaker 1: want to work and you are more responsible, can you
Speaker 1: still have that strength to wake up, get to traffic,
Speaker 1: and go do a job. In your active work, It's
Speaker 1: easy to do passive income. So look at it that way,
Speaker 1: that whatever you are investing, it's for you to end
Speaker 1: passive income down the line. Again, take ten percent, blow
Speaker 1: your ten percent, but try to invest that eight or
Speaker 1: nineteen percent. So I egene risk pacific income for you.
Speaker 1: Remember what I'm saying I'm saying, even if you spend
Speaker 1: the passive income, I'm not mad at you. But if
Speaker 1: you spend the principal, yeah, I'm mad at you. Right,
Speaker 1: So that's what I'm.
Speaker 2: Going to quick look at that principal and interest.
Speaker 1: If you don't trust yourself, Okay, I agree, spend the
Speaker 1: spend the returns, but that principle please invested that we
Speaker 1: are friends? Is that okay? Yeah? All right?
Speaker 7: All right, welcome, Thank you so much.
Speaker 1: You're very very welcome. Man. How are you doing, sir?
Speaker 1: I'm doing very well. It was excellent, and thanks for asking.
Speaker 1: Do you have a question of mine?
Speaker 2: No, actually, I'm just doing this is.
Speaker 1: Excellent, just hanging there for us. All right, So now
Speaker 1: let's yeah, now, let's go back to our charts for
Speaker 1: number three. Number three is asking you look at the
Speaker 1: current network network. Remember talked about income expenses. We've talked
Speaker 1: about budgets, music fund now we're talking about network. Income
Speaker 1: is not the same thing as network. So if I
Speaker 1: end a million IRA, it does not mean I am
Speaker 1: worth a MILLIONNRA. It doesn't I have to convert my
Speaker 1: one million IRA to passive income. That's only when I
Speaker 1: am what's a million? So the question is asking you
Speaker 1: look up your current network. Do you have a schedule
Speaker 1: of your assets and liability? So I'm asking you guys, now,
Speaker 1: do you have anywhere on the internet and excelsily do
Speaker 1: you have listed every asset you have, your as no jesse,
Speaker 1: your landing away, your car with the bin number. Do
Speaker 1: you have any place where you have detailed all your
Speaker 1: assets and your liabilities on an sell sheet away? You
Speaker 1: have to do that right. It's also asking you do
Speaker 1: you have so your assets and liabilities? Divide your assets
Speaker 1: and your liabilities? When you do your your what you
Speaker 1: own and what you own divided income generating assets on
Speaker 1: one side, none incommuting assets on the other side.
Speaker 2: So what do I mean If you own a.
Speaker 1: Car, is that car an asset or a liability? A
Speaker 1: countdown to stay that the car is an asset, but
Speaker 1: it is correct if the car if you spend more
Speaker 1: money on the car than you earn, that car is
Speaker 1: the liability. So you want to divide in your asset column,
Speaker 1: divide into assets that give you money and asset that
Speaker 1: takes your money from you incomputating assets non incompletent assets,
Speaker 1: centering of your liabilities. You want to say are you
Speaker 1: paying debts on that liability or not paying debt? Got
Speaker 1: this way? If your father gives you money, that shes
Speaker 1: you money and it says you're oil meal, Yes, he
Speaker 1: only expected to bring him back with print upon him,
Speaker 1: and I expect you to bring him back with interest.
Speaker 1: So that's a liability, but it's not interest generated.
Speaker 4: Right.
Speaker 1: Samely, if you work for a cooperative right conrectly could
Speaker 1: say well, I'm gonna give you money at low interest
Speaker 1: of me two percent, it's a liability, but very very
Speaker 1: low liability.
Speaker 2: Right.
Speaker 1: So you want to divide your assets and your liabilities
Speaker 1: into interest bearing and interest bearing income cost and interest cost.
Speaker 1: I want to ask yourself some questions. Are you reach
Speaker 1: out today? What is rich? Riaches that your assets and
Speaker 1: one of your liabilities. You want to ask yourself, how
Speaker 1: did you levage your networks? If you are rich, what
Speaker 1: did you do about it? Did you take more ass
Speaker 1: as and invest to make more passively income on line? Right?
Speaker 1: How did you create multiple streams of income? Are you
Speaker 1: only learning from one source and that's wants us identity
Speaker 1: your assets? So number three is asking you not to
Speaker 1: look at your assets your liabilities to divide them into
Speaker 1: wards they are and watch your pain out and to
Speaker 1: ask yourself are you insulated from one multiple source of
Speaker 1: income or two? So number one is to turn about
Speaker 1: your expenses, right what are your expenses? Are you tracking them?
Speaker 1: And a number two is showing you how to budget.
Speaker 1: So it's saying put your income and expense it into
Speaker 1: a budget asset. Don't go into a budget, welcome into
Speaker 1: a budget. Is your income and your expenses. The number
Speaker 1: three now is telling you to bring it together and
Speaker 1: talk about your networds. Your netflods contain your assets and
Speaker 1: your labilities. Right, perfect, That's be a huge question to
Speaker 1: me here, let's get the I've got son of David,
Speaker 1: is that you know the story behind Nija? How are
Speaker 1: you doing?
Speaker 2: That?
Speaker 1: Wasn't minded?
Speaker 2: So thank you very much.
Speaker 11: This is the first time I'm giving an opportunity to
Speaker 11: ask the question here.
Speaker 2: Really interest and thank you very much.
Speaker 12: I wanted to ask if you're running a business but
Speaker 12: currently it's not Nigeria.
Speaker 2: Uh, you're using a different currency.
Speaker 1: But you can be able to transford in to your
Speaker 1: local currency without having much text on it.
Speaker 2: Then which one the advice is it? One advice to
Speaker 2: save your emergency income to your local currency? Or the
Speaker 2: currency on the particular list. So that's my question.
Speaker 1: Let's let's lets let's make it. So let's see I work,
Speaker 1: I work for you company. You can complete build me pounds, right,
Speaker 1: and I spend money in Nigeria. Right for this specific case,
Speaker 1: I'll always keep my money in the foreign currency. Why
Speaker 1: less inflation. So that's an inflational question. If you have
Speaker 1: the opportunity to end only in a foreign currency or
Speaker 1: the local currency, I would always advise you hold the
Speaker 1: foreign currency because of information. Right, then you can always
Speaker 1: do your caucus and say, okay, what's the exchange rate?
Speaker 1: The extendustries is one to one hundred, so I keep
Speaker 1: one pound part one hundred NR. But I still maintain
Speaker 1: the numerical value of the emgency fund. But I simply
Speaker 1: hold the funds in that's foreign currency and not nive
Speaker 1: because the Nira.
Speaker 2: Would depreciate faster.
Speaker 1: So I have to keep on maintaining my my emency
Speaker 1: fund every years to keep on going up and up.
Speaker 1: But if I hund it ten dollars of pounds, the
Speaker 1: infinite is less on dollar pounds, so I don't have
Speaker 1: to keep on putting money into It's a great question
Speaker 1: because the best way. You don't take your emergency fund.
Speaker 1: Are you invested? No, you're not supposed to take relacy
Speaker 1: phone and buy shares. It has to be cash or
Speaker 1: near cash your emagency fund. It's going to be cash
Speaker 1: on your cash with me that if you hold cash
Speaker 1: in Iran, look you don't want education. So I always
Speaker 1: recommend if you have the opportunity, if you're blessed and
Speaker 1: you have that income holding in the foreign currency. Does
Speaker 1: that makes sense? Yeah? Perfect, Okay, let me get are
Speaker 1: your all back? Are you how are you doing? What's
Speaker 1: in your mind? I? Are you alone?
Speaker 5: Back?
Speaker 6: Yeah?
Speaker 13: Thank you so much.
Speaker 1: You're gonna hear you go ahead, Oh, thank.
Speaker 12: You so much.
Speaker 1: Just to come. What's my night is simple? What have
Speaker 1: you been when I?
Speaker 7: Where was this meeting?
Speaker 2: When I just got my job last years?
Speaker 1: Where was this meeting?
Speaker 14: Like?
Speaker 15: Because I kind of come from the background where we
Speaker 15: didn't really have enough of this financial detric I know
Speaker 15: that my my story is not that unique.
Speaker 2: You know, when you grow up in the home where.
Speaker 16: You have seen your parents survive on the grace of God,
Speaker 16: like God to provide.
Speaker 7: So you kind of grew up to have that mentality.
Speaker 17: So I think when I got my job in a Bunja.
Speaker 16: Last two years, I made a lot of them mistake unconsciously,
Speaker 16: unclously and towards this.
Speaker 7: Towards this I think November.
Speaker 18: Yeah, towards this November I learned the hard way a
Speaker 18: mental conference and some mentors and exactly all the things
Speaker 18: you were saying.
Speaker 1: Well the things day told me that you have a body, and.
Speaker 12: You have planned, you have control over your money.
Speaker 17: So maybe I saw this clating immediately because to them.
Speaker 1: And so far it has been my situation.
Speaker 12: Are due to.
Speaker 1: My recorless experience. I end Overhundka.
Speaker 19: Working on research and policy analysts.
Speaker 7: Well, at the end of the year, I wasn't a negative.
Speaker 1: Okay, and yeah this so right now and I don't.
Speaker 7: Know, okay, I have some information the knowledge.
Speaker 20: Can I need to budget this non discussionary and need
Speaker 20: to have them sort discussionary?
Speaker 1: How does one I mean uncle.
Speaker 7: From here to paying up the legative?
Speaker 2: Yeah, so.
Speaker 1: Have using up or have using up like it's safe
Speaker 1: like you called it like I got you stop stop
Speaker 1: from the favorite the beginning. Likewise they stop from the beginning.
Speaker 1: So were you here when I share that chat that
Speaker 1: talks about how you do one number one or before
Speaker 1: that chart I shared.
Speaker 7: Your I don't make your friends.
Speaker 2: So start start from there.
Speaker 1: Go go back and an excel ship list out your
Speaker 1: income list, start your active income. Do you have any
Speaker 1: passive income right now?
Speaker 6: No?
Speaker 1: No, no, no. So now you have only active income, you
Speaker 1: are missing pacific or what means you can't retire? That's
Speaker 1: what it means, you can't retire. So number one thing
Speaker 1: you sorry, no retire is not an age ream just
Speaker 1: means when your passive income can pay your non discretion expense,
Speaker 1: then you can so. So first of all, you have
Speaker 1: your active income. You want to say, okay, I can
Speaker 1: share it on YouTube if you're on YouTube, I will
Speaker 1: share it if you reach charity, but on Twitter. Not really,
Speaker 1: you want to take an amount, even if it's ten percent,
Speaker 1: even if it's five percent. Once you end your income,
Speaker 1: pay yourself first. Take that money and putting your passive
Speaker 1: income pacificcome here means that you are invest into something
Speaker 1: I want to take today. But you talk to more
Speaker 1: really in ten years time. So you can't say, for instance,
Speaker 1: I want to buy in which was fund in Nigeria,
Speaker 1: or I want to use those apps and buy in
Speaker 1: which was fund in America ten percent, five percent, It
Speaker 1: doesn't matter what much is the consistency. So you eard
Speaker 1: one hundred thousand, take out ten thousand and invest immediately.
Speaker 2: That's your passive income. You do that.
Speaker 1: Your look of now from that active income you have,
Speaker 1: you not have ninety. You look at your nondiscretionary and discretionary.
Speaker 1: Your debt is under nondiscretionary. It means you must pay
Speaker 1: that debt. There's debt management strategies separate from it. When
Speaker 1: your budget it's a stress percentagy on debt. I think
Speaker 1: we're going to talk about debt somewhere on this channel.
Speaker 1: I will show you how to get out of debt.
Speaker 1: You don't do snowball or you do avalanche metal. You
Speaker 1: basically say you want to attack that debt and pay
Speaker 1: off the principle. It can be a four year, three year,
Speaker 1: two year, doesn't matter, but you want to pay off
Speaker 1: the principle with means. When they give you a loan,
Speaker 1: you never want to pay interest. You want to pay
Speaker 1: more to the principle. So you kield that debt of
Speaker 1: faster witness for now. If you drop up your budget,
Speaker 1: are your your passive income cannot pay your non discretionary
Speaker 1: your total income. Can your total income cover your debt
Speaker 1: and your non discussion expenses question for you? So like
Speaker 1: what I'm asking is without you, without the where you
Speaker 1: end money, can you pay your loan.
Speaker 2: Off and also pay your expenses?
Speaker 6: No?
Speaker 7: No, I only do.
Speaker 2: So your problem is really your income.
Speaker 1: So you have an income problem. That's why I think
Speaker 1: the problem is because if your your income has got
Speaker 1: to pay at least your your to service your debt
Speaker 1: and your expenses. If it can't do that, then you
Speaker 1: don't have to go And further, you have an income
Speaker 1: problem on top because you can't change the debt and
Speaker 1: you bost eat food, so we can't tell you don't
Speaker 1: eat food pay the debt. You've got to go back
Speaker 1: to your income side and grow that income based that's
Speaker 1: what thing to do. Get a second job, get a
Speaker 1: side gig, but you've got to grow that debt. If
Speaker 1: you take if you can refinance your debt, that helps.
Speaker 1: But you've got to focus on the income so you
Speaker 1: can pay at least one of your debts or your expenses.
Speaker 1: Because if your dad can't pay a few not I
Speaker 1: need to talk about your expenses. So you're non discretionary
Speaker 1: and you want to forgotten that and I can give
Speaker 1: you if you go on you see my name go
Speaker 1: with w calu at dot org. If you go to
Speaker 1: that site, you will see an excel shit that have
Speaker 1: that you can't use. It is for free. You can
Speaker 1: plug in your fucause you'll show you exactly what I
Speaker 1: want you to do to show you how much you
Speaker 1: are making where you are negative. And you can actually
Speaker 1: use that chat to reprogram your income. So if you
Speaker 1: go to the website, yeah does callo at dot org,
Speaker 1: you'll see let me go. You see it's called financial calculator. Yeah,
Speaker 1: you can use our cabin and so plug us in
Speaker 1: and if you give you something. But can you have
Speaker 1: an income problem? Know that helps.
Speaker 7: Thank you so much.
Speaker 1: That's what I'm watching on that. And even if you
Speaker 1: can't raise your income, you've got to try to pay
Speaker 1: that debt of the principle. Have to put that principle
Speaker 1: of very important. Right, I appreciate you coming. Just if
Speaker 1: you got to financial if you go to that website
Speaker 1: Calua dot org, you click on financial calculator, right, it
Speaker 1: will you're basically log in. You can create something there.
Speaker 1: You can see your main website, your income and expenses.
Speaker 1: You can's automatic when you're plugging your income is calculating
Speaker 1: things for you. Just go in and you're plugging your
Speaker 1: expensive to video to carpuse lots of stuff for you. Yeah,
Speaker 1: so try to use that guy, yea perfect Yeah, let
Speaker 1: me know you. Let me know so that I've got
Speaker 1: your I've got greatics, great great X on the score posts.
Speaker 1: I can hear you pray.
Speaker 2: What's your fine?
Speaker 1: Friends?
Speaker 3: Mindy said, I don't know if I should remember that
Speaker 3: I discussing fact.
Speaker 6: I don't have to.
Speaker 1: Organize issue.
Speaker 3: I say about currently now we have unemployment quote unquote
Speaker 3: four point but between the first we know that we
Speaker 3: have a lot of you throw around their mid days
Speaker 3: in their forties on the air twenty those two investing
Speaker 3: without a big job, without any ECO or really mating
Speaker 3: X with some of them with the pere and let's
Speaker 3: you say, job which we know after around here or.
Speaker 2: Two years off. And these people are going to grow
Speaker 2: up to fort these fifties and sixties with.
Speaker 3: Little and new income, little new skill, putting their spaces
Speaker 3: for that it's waiting for them. So what advice do
Speaker 3: you have for those people? Because now we don't know
Speaker 3: the ship that's like there is, and we don't know
Speaker 3: what things will been around ten or twenty or fifty
Speaker 3: early eighties, and there these people will be in your
Speaker 3: forties and sisters and will have to even if things
Speaker 3: get better, you have to compete with people if there
Speaker 3: are twenties and thirties with the same skill that is
Speaker 3: required for that time all day with give lesser skills.
Speaker 2: So what I think you do? You understand the question
Speaker 2: what issould have tried to and.
Speaker 1: You said that if you're like you a disadvantage to folks,
Speaker 1: and thought I mean.
Speaker 3: Is saying no, no, I'm not even comparing that you are.
Speaker 3: The folks are broad and that's another issue. What I'm
Speaker 3: saying is that now you have Beyon.
Speaker 1: In his staties. Roman has the streets.
Speaker 2: Nothing, gold on, nothing ending pin or so ending nothing.
Speaker 7: He's going to become forty fifty.
Speaker 3: Very still, and by that time he has little or
Speaker 3: nothing booty and skill, and the siblings so far back
Speaker 3: to and let's even as utiens get better in that time,
Speaker 3: let's say twenty ye is time, and their jobs everywhere
Speaker 3: with aun employment that you know, when.
Speaker 2: You're four percent.
Speaker 3: Of what it is now we've got more about he
Speaker 3: will have to compete at that time with people of
Speaker 3: twenties and tenties.
Speaker 2: We skilled for that time, but with age to side skill,
Speaker 2: not the side service, not design.
Speaker 3: So what advice do you have for people now that
Speaker 3: are in this position now so that you can be
Speaker 3: in a better position in ten twenty years time?
Speaker 2: So you know, right, let's in finacial planet.
Speaker 1: We have this method have to use right that says
Speaker 1: that the older you are you have more assets.
Speaker 2: Than the younger you are. Young, the younger you are, you.
Speaker 1: Have more income and less assets. I was just here
Speaker 1: ends and income.
Speaker 2: We want to sorry, sorry, but we want to know
Speaker 2: that now at.
Speaker 6: The rate we are going as initial in.
Speaker 3: Nigeria, that's metrix will soon be done on this head
Speaker 3: you know.
Speaker 2: You know, you know what I mean explained.
Speaker 1: So what I'm saying is that you have to when
Speaker 1: you're a young person, whatever income you get, you got
Speaker 1: to buy assets today. You've got to buy access today.
Speaker 1: Let me tell you a story. While I was in university,
Speaker 1: the class the guy above me that left Nigeria, he
Speaker 1: was like I was in year one, he was in
Speaker 1: year four. He was more the first half of zen
Speaker 1: it Bag back then, Lucky phase Ley roundabout was Lucky one.
Speaker 1: There was no Lecky Toley three. He bought land in
Speaker 1: leky two and he left Nigeria for ten years. When
Speaker 1: it came up to Nigeria, somewhere offered him one billion
Speaker 1: dollars for that same line he brought when he bought
Speaker 1: lange or swamp. So when you are younger, you've got
Speaker 1: to buy assets that are going to generate a income
Speaker 1: for you tomorrow. You can't compete in the quali. You
Speaker 1: can't compete to buy stocks. You've got to try to
Speaker 1: use your money to make the largest impact for you
Speaker 1: sore down the line. If you have bought those assets,
Speaker 1: just appraising late and allow you to then invest.
Speaker 2: If you wait, you make money.
Speaker 1: You will never buy any as in legal state or
Speaker 1: a budja or protacle, or you will let You've got
Speaker 1: to when you are younger, going to debt to buy
Speaker 1: an asset so that when you are older you have
Speaker 1: that asset with now income to invest.
Speaker 2: There is the same This thing you are saying is
Speaker 2: the same in America.
Speaker 1: If you are younger, you are seeking to grow up
Speaker 1: and completely the younger folks at any money in tech
Speaker 1: that would be any more than you. But time makes
Speaker 1: your money compound. Time makes your assets compound. If you
Speaker 1: buy a property, if you buy a raw land in
Speaker 1: one village twenty years ago this year, that's really rewors
Speaker 1: more and that's your advantage ATTA that time has compounded as.
Speaker 2: An investment over the years.
Speaker 1: If you wait, they of course you are competing, like
Speaker 1: what you're saying, and you can live up in them
Speaker 1: because you have more income than you.
Speaker 2: You're very college. What you need now is you I
Speaker 2: think you.
Speaker 3: Are much You're much older than me, so I would
Speaker 3: say I'm a bit closer.
Speaker 2: Too than you. Challenge.
Speaker 21: The people in this.
Speaker 3: Age bracket now are fighting to stare life not able
Speaker 3: to invest. Everything they have now is target just awards
Speaker 3: being a life not to invest. They have not invested
Speaker 3: in anything right now and they're.
Speaker 2: Literally nothing to appreciate it too.
Speaker 1: I can't and that's why. And that's the point.
Speaker 2: Yeah, yeah, right, there's no And that's the point I
Speaker 2: make right that.
Speaker 1: The folks that are going to be rich in twenty
Speaker 1: years time are the folks today.
Speaker 2: As I invest in, it's not.
Speaker 1: Going to change.
Speaker 2: I'm not care to.
Speaker 1: I can't answer that could Like I know you're asking,
Speaker 1: you say, people can't invest.
Speaker 2: What people are.
Speaker 1: You can still buy your phone, people can still buy clothes.
Speaker 1: I mean, it's your call. What I'm telling you is simple.
Speaker 1: Folks that invest today, I'm going to be the folks
Speaker 1: in twenty years that I do to be in middle
Speaker 1: class in this bad period. This but when it is
Speaker 1: a bad period, that's why you invest. If Nigeria is good,
Speaker 1: then prices are gonna go high. You can't buy anything.
Speaker 1: If Nigeria is bad, everything is at a discount. The
Speaker 1: folks that if you can't buy legals go to Abia,
Speaker 1: go to your b and buy land.
Speaker 2: So you want to leave probe going to go are
Speaker 2: and when they.
Speaker 1: Can have value. If you cannot go to your village,
Speaker 1: if you say things that have in legals, go back
Speaker 1: to your play and open up the school. There are
Speaker 1: many kids in your village that needs education. You aredea educated,
Speaker 1: Go at your village and in an income let them.
Speaker 1: They just pay you with yam, take the yam and
Speaker 1: sell to the township. You've got to use your education
Speaker 1: to get ahead. And I know all the answers, but the
Speaker 1: point I'm making is the folks that are going to
Speaker 1: see a middle class in twenty years time when we
Speaker 1: ask them what they're gonna say. Wow, when things were bad,
Speaker 1: I have an identity do pure water? So used to
Speaker 1: buy what in the bottle in that long bag and
Speaker 1: I sled it for one cover. Yeah, it is those
Speaker 1: folks that discovered the way to make money in a
Speaker 1: down market. That don't put me the years in twenty
Speaker 1: years time. I don't know which what they will do,
Speaker 1: but you and I will see them and would they
Speaker 1: will say yes? This will we didn't I answer the question?
Speaker 2: Yeah, yeah, okay that that is at.
Speaker 1: The end of every depression that Microsoft Clare started in
Speaker 1: a pregnant and recession. I believe, yeah so, I mean
Speaker 1: yeah so yeah so again, lots of questions. Can you
Speaker 1: take a question and I five will go out to
Speaker 1: the books. I think I don't even think we're gonna
Speaker 1: have time. You can just go go ahead, let me
Speaker 1: let me hear a question. Gretics put that great question.
Speaker 1: Thank you because you hi, you man London Claire.
Speaker 22: Who outside I won't see it's a very great opportunity.
Speaker 22: I don't know how you do have this. I know
Speaker 22: a lot of people pay for what we are getting
Speaker 22: now for free. I don't know how often you can
Speaker 22: be doing this because I have a million concious to ask,
Speaker 22: but I just cut them down to you.
Speaker 2: Okay, So I would I would.
Speaker 22: Say as a business person, I'm actually I'm a salesman
Speaker 22: now for a farm, a sleeple company. So let's say
Speaker 22: you have money. You have, there's a lot of turnover
Speaker 22: from the little you do some kind of things. And
Speaker 22: then let's as a business person now in that guys,
Speaker 22: who would you advise for someone that has Let's say,
Speaker 22: if you put them money into what you are.
Speaker 1: Doing as a sales person, they.
Speaker 22: Can give you more turnover, probably faster than you having
Speaker 22: let's say, for instance, you have like a million in
Speaker 22: this time the money market, you're all the different things
Speaker 22: you have not to have fun and the rest.
Speaker 2: Of them, and then louding over time with.
Speaker 22: That, and then having that as what would I say
Speaker 22: in the money market to generate money for you?
Speaker 2: Is it that's what you talked about?
Speaker 1: Yeah?
Speaker 2: I think I question you can remember that when people
Speaker 2: get to.
Speaker 1: Okay, go ahead, all right, So.
Speaker 22: Second deser, what would you actually advisor? This is second question?
Speaker 22: What would you advise in this time? Do you you
Speaker 22: have actually answer that? In the course of what you've talked,
Speaker 22: you've talked about the last speaker this question no investment
Speaker 22: in lands. Now as a person, I am side by
Speaker 22: side with fixed deposits because when I was much younger,
Speaker 22: I used to have a fixed the posit account, investment
Speaker 22: in lands and fixed deposits. And then lastly, sorry, I'm
Speaker 22: Marxai so many but I just try to make it
Speaker 22: as the not Lastly, somebody in the basic say, let's
Speaker 22: say two hundred thousand. Now, yeah, sometimes you can't have
Speaker 22: other literally to gage some other things. That just got
Speaker 22: those within the same business side some other side things.
Speaker 1: What do you think about building easy a good idea? Now? Okay,
Speaker 1: so okay, So number one, whatever you do if you
Speaker 1: look at if you go back to when we start
Speaker 1: off with the chat, that actually has passion income and
Speaker 1: active income, you must do that even if you work
Speaker 1: for yourself, even if you work for someone, because your
Speaker 1: income is not your asset. You are not rich because
Speaker 1: you make money. You have income. You are rich because
Speaker 1: you have assets more than liabilities. So when you have
Speaker 1: let's say you have a shop on a chair, you
Speaker 1: bring in one million revenue, that woman, a revenue is
Speaker 1: not your wealth. It's turnover your job. What I'm saying
Speaker 1: to take that turnover and converts to passive income. We
Speaker 1: mean you take ten percent of that turnover. You buy land,
Speaker 1: you buy stocks, you buy fixed income, you buy property,
Speaker 1: whatever you want to do. You want to convert that
Speaker 1: shop money to passive income because you can't be at
Speaker 1: the shop forever. Now, what are your expenses? Not your
Speaker 1: shop expenses, so your own personal expenses. You have school fees,
Speaker 1: you have holiday in Germany, you have car, you have diesel.
Speaker 1: Those are you have to critical writers expenses? I did
Speaker 1: discretionary like I did, like it wants or I didn't
Speaker 1: know discretionary as they need you. Then take that income,
Speaker 1: that's income you are making that you are tend to
Speaker 1: passive income. Your goal is that the passive income can
Speaker 1: pay your personal lifestyle and support your personal lifestyle. Once
Speaker 1: your passive income be your renter, your dividends can support
Speaker 1: your personal lifestyle. You have your riage, you can retire,
Speaker 1: you are rage. You don't looking depending on just one
Speaker 1: sort of income from your store. So that's what I'm
Speaker 1: saying to answer your first question, Yes, you must convert
Speaker 1: your income to assets. It's only when you have assets
Speaker 1: that you are rich. Income is not the same thing
Speaker 1: as world number one number. You're asking about revirement, it's
Speaker 1: about property. You actually by property your own.
Speaker 22: Yes, I'm talking about investments in lands as again talking
Speaker 22: about your fix out there, investments and lands now.
Speaker 1: And so you ask yourself like I said, when you
Speaker 1: do your assets, you divide your assets into two income
Speaker 1: generating non income generating. Land is not going to pay
Speaker 1: you any income. Fix the persons will pay you income,
Speaker 1: but fixed the posits does not grow as fast as inflation.
Speaker 1: Land may grow as fast as inflation. So buy two
Speaker 1: of them. Buy two of them if you can afford it.
Speaker 1: Buy why you buy one buy the land to the
Speaker 1: fix the fixing post is just to pack money, it's not.
Speaker 1: So you're not going to say you want to invest
Speaker 1: in fixing for ever of your life. You're packing one
Speaker 1: in the fixed polity to buy an asset that generates
Speaker 1: income for you. Land is not going to give you
Speaker 1: any income, but it's an asset. We want you to
Speaker 1: invest in assets that give you income, passive income. That's
Speaker 1: what you want. You can buy land, that's fine, it's
Speaker 1: an asset.
Speaker 2: It won't pay you income.
Speaker 1: That's fine, But we also want you to buy assets
Speaker 1: that give you income. So buy two of them. There's
Speaker 1: no difference in the land or fixed income. But you
Speaker 1: want to ask the fruit question, do you need the liquidity.
Speaker 1: If you need liquidity, then you want to do the
Speaker 1: fixed deposit than the land. So again the first positive posse,
Speaker 1: what is your long term objective? If your long term
Speaker 1: objective is just two years, then do fix the posit.
Speaker 1: But if you have thirty years to spend, please buy
Speaker 1: the land. So the answer to your question depends on
Speaker 1: what your own objective is. If you have to invest
Speaker 1: for twenty years by land, if you don't invest for two.
Speaker 2: To three years to fix the posit, what's the last question?
Speaker 1: Again?
Speaker 22: Okay, the long last question is put someone like you're
Speaker 22: saying is in two thousand as physics. Now, what do
Speaker 22: you think about building now?
Speaker 1: And is it a good idea? Of course it's a
Speaker 1: good idea. If you can't deal with because you are
Speaker 1: a review on expense, you are revealing perhaps the last
Speaker 1: expert you have, which is your rector. So if you
Speaker 1: can't convert your autorial town into a house, a house
Speaker 1: becomes either passive income or an experts reduction program.
Speaker 2: So it's a very good idea.
Speaker 1: If you live anywhere and you can afford to build
Speaker 1: your own home, Please do it build for when I
Speaker 1: mean built for yourself. So I say, okay, I'm not
Speaker 1: paying rent. I don't know about building it about the
Speaker 1: build for investment. That's professional. You have to build a
Speaker 1: GOTO location. But if you're building where you will live,
Speaker 1: you can't go wrong with that because you're not going
Speaker 1: to pay rent. So on your chart you've converted income
Speaker 1: to passive or income to reduction in not discussion. Expect
Speaker 1: that's what you get when you build your own house.
Speaker 1: So it's a very good idea if you can afford it.
Speaker 1: Cause you go thanks to that question. Yeah, let me
Speaker 1: get abd Allah that he will rob you.
Speaker 2: We're not gonna I.
Speaker 18: I thank you very much, Big.
Speaker 1: It came at the very.
Speaker 2: Time of need. I have a question with regards to myself.
Speaker 20: I'm a businessman, and the kind of business I do
Speaker 20: is kind of an informat system I do.
Speaker 22: I'm a BIDC guy, but in the infoma.
Speaker 20: So making money from our only end is not a
Speaker 20: promise at end of the at the end of the month,
Speaker 20: you can see this is a projected income, something that comes.
Speaker 20: I don't understand I'm starting where where I'm trying to
Speaker 20: come from you. I said, I'm a BIDC guy, but not.
Speaker 2: Be I'm not actually like that.
Speaker 1: I hear you. I hear.
Speaker 2: So.
Speaker 1: Our income is kind of predicted.
Speaker 2: Yes, yes, it's own predicted.
Speaker 20: So for me to say, with the capture of let's
Speaker 20: see to crimlionaire two hundred thousand, they're appropriate at end
Speaker 20: of the.
Speaker 1: Month is not a promise.
Speaker 2: I see, I say, I gotta come.
Speaker 1: From so so.
Speaker 20: So in this case, what what would be your argument?
Speaker 20: Because I really I am in need of a s.
Speaker 1: Okay, I'm like what I think. I get you a question, say,
Speaker 1: very very great question. So what a foot about folks
Speaker 1: that don't end months by month? Sometimes I end one million,
Speaker 1: then ten thousand thousand. It's irregular. Okay, I get your point.
Speaker 1: Asked a great question. So what we need to do.
Speaker 1: I'd like to say we can use two methods. We
Speaker 1: can use a percentage method, or we can do a
Speaker 1: salary method. Percentage method or salary method. Percentage means you
Speaker 1: adopt a percentage and say any to anything that I make,
Speaker 1: I am going to save ten percent of of it.
Speaker 1: So if I make one million, I say, I save that.
Speaker 1: End of story. You got what I'm saying. So whatever,
Speaker 1: once I make yeah, once I make one percent, once
Speaker 1: I make ten thousand, I do a percentage and I
Speaker 1: say it into my soul. I take that money, I
Speaker 1: take that savings, then I take it as my income.
Speaker 2: That's number one.
Speaker 1: Number two to say, I want to basically take all
Speaker 1: that money right and pay myself a salary, which means
Speaker 1: if I make one million, I pay myself one hundred
Speaker 1: and nine salary, then one million goes to If just
Speaker 1: putting an account, I only take one hundred thousand next month,
Speaker 1: I take one hundred thousand. If I don't have any money,
Speaker 1: I don't pay myself a salary.
Speaker 2: So I'm making that.
Speaker 1: I'm only going to end that salary. If it's for
Speaker 1: four months, so be it. But I have a salary.
Speaker 1: But the best applies to combine both of them. You
Speaker 1: can say, okay, I'm going to pay myself a salary
Speaker 1: of ex amount, and it's going to be.
Speaker 2: Funded from ten percent of my endings.
Speaker 1: So every time you make money, any time money touches
Speaker 1: your hand, you take that cent percent of twenty percent
Speaker 1: and you pay to your fund. The rest goes back
Speaker 1: to your business. That's your salary. You plan with that salary,
Speaker 1: So that's a salary Uniza. Is you're active or pative,
Speaker 1: then you don't invest it. The other money is the
Speaker 1: money that you're going to keep in your for your business.
Speaker 1: You know what I'm saying, in your business to grow
Speaker 1: your business. If you don't pay alself a salary, you're
Speaker 1: not separated the business for yourself. And then one day
Speaker 1: you're gonna need to buy a house, and then you
Speaker 1: will have that money to buy the house.
Speaker 2: So it's still what I'm saying.
Speaker 1: Yeah, so you need to separate that come and then
Speaker 1: do it that way, and that would help it. That's
Speaker 1: what That's what I recommend that you try to do.
Speaker 20: You and I will definitely keep you posted on the progress.
Speaker 1: I would like that let me know how it goes
Speaker 1: if you are meant it, because like I said, yeah,
Speaker 1: let me know how we goes, and I we're gonna
Speaker 1: see what we're gonna do. Yeah, all right, we are
Speaker 1: must even gotten into the generally your financial plan.
Speaker 2: Then we repeat you guys, what I want you guys.
Speaker 1: To do for January.
Speaker 2: Number one, Please write it down.
Speaker 1: Number one. You want to track all your expenses. You
Speaker 1: want to track all your expenses. You want to track
Speaker 1: every single expense that you make. You want to track it.
Speaker 1: That's number one. Number two, you want to categorize your expenses.
Speaker 1: You want to categorize your expenses. So when you track
Speaker 1: your expenses, you then be able to category. You spend
Speaker 1: money on engine, oil, patrol, car ward, that's all KI expensive.
Speaker 1: Categorizing mask KI expenses. Number three, you want to allocate
Speaker 1: and amount nine a month to each category. So you
Speaker 1: track your categorize, you allocate. That's a budget. So when
Speaker 1: you look at your budget, you don't ask yourself is
Speaker 1: this to realistic?
Speaker 2: Don't forget your.
Speaker 1: Din, your expenses and also your income. Same thing with
Speaker 1: your income. What sort of income are going to make
Speaker 1: it into the five? Is it from your salary? Is
Speaker 1: it from your passive? Is it from your investment? We
Speaker 1: had the guy head that we talked about. His promise
Speaker 1: is income what's not enough. So your budget for this
Speaker 1: community is to grow your income. You want to grow
Speaker 1: that income either make it to turn into jobs or
Speaker 1: go to act your company for a raise, or investing
Speaker 1: more getting more money to investment income. You've got to
Speaker 1: also bullish for your income, so you bullet your income.
Speaker 1: You burnt your expenses, You track, you categorize, you allocate,
Speaker 1: then you keep on adjusting. If they change something, you
Speaker 1: also adjust. That's what if to change something you adjusting
Speaker 1: means that in the change fuel becomes more expensive, then
Speaker 1: you also adjust. Right, That's what I'm asking to do.
Speaker 1: That's what you want to do this year. I will
Speaker 1: try to do as much as you can on that.
Speaker 1: A lots of questions. So were the big ee was
Speaker 1: my biggie biggie? Peace ahead? Hello? Can you believe in you?
Speaker 1: Go ahead?
Speaker 23: Yeah?
Speaker 13: First of all, thank you so much for the investments,
Speaker 13: in fact impartings for so much knowledge.
Speaker 2: Thank you so much.
Speaker 13: Now this is my question. I have a couple of questions,
Speaker 13: but I'm trying to just see how I can streamlize it.
Speaker 24: One of it is for where do you categorize.
Speaker 1: Donations or offerings or something in religious or something?
Speaker 2: How is he an expense?
Speaker 1: It is an expense.
Speaker 2: Where do you categorize?
Speaker 1: It's your's you, it's your columns, it's your call. If
Speaker 1: you say the giving tights, it's.
Speaker 2: In the Bible.
Speaker 1: But this mine the book of finance. So if you
Speaker 1: say that giving tights is a non discussion experense and
Speaker 1: that's what you're believe in, then do it.
Speaker 25: Then do it.
Speaker 1: So if you decide what is discretionary, I'm a discretionary
Speaker 1: you would decide if you say this, then you do
Speaker 1: it that way.
Speaker 2: Okay, okay, thanks for that.
Speaker 24: And secondly, for situations where were before maybe changing government,
Speaker 24: you actually veiled to your aiming so much because you
Speaker 24: were saving and during an investment, what was sudden another
Speaker 24: you change your government, you notice the way you are actually.
Speaker 7: In how do you actually come up from that.
Speaker 18: So much before?
Speaker 2: Now now it's looking as if there's actually.
Speaker 1: Nothing become inflation or work specific yes.
Speaker 13: Completion, yes, and when you aim was so much of
Speaker 13: value and it's no longer.
Speaker 17: And even the investments you did actually nowhere.
Speaker 2: Yeah.
Speaker 1: And that's that's my way.
Speaker 2: That's why we have that's what we're doing.
Speaker 1: We're doing today because every plant like that, there's a
Speaker 1: there's a philosopher cause Mike Tyson, Mike Titans. Mike Tisans
Speaker 1: said every plan, everybody has a plan until they are
Speaker 1: punched in the mouth. So we all have plans, we
Speaker 1: will all want to invest, but then the government comes.
Speaker 1: Like fell I said, government has a second tier everything
Speaker 1: tier two pieces. So what you want to do is
Speaker 1: to have a budget or a plan so you can
Speaker 1: you can absorb on certainty and relate in a formal way.
Speaker 1: That's what we're doing today. So what I'm saying is
Speaker 1: this right. If you have plan to invest and you
Speaker 1: investment are rubbish? What do you think happens on your budget?
Speaker 1: If your income has gone down? So you want to
Speaker 1: ask yourself what expense items do I take off or
Speaker 1: what income items do I bring in to balance that budget. Remember,
Speaker 1: you can have a deficit budget. We miss.
Speaker 2: You can borrow money. You can borrow money.
Speaker 1: But if you are borrowing money, let I want to
Speaker 1: go to your non discretionary or to your passive income.
Speaker 1: Because if you borrow money, for a discussion, expert, you
Speaker 1: are digging the whole that you do not get out of. Again,
Speaker 1: borrow money, borrow money that would create things that will
Speaker 1: create income for you. So if you are borrowing, you
Speaker 1: want to invest in an income charging asset, not to
Speaker 1: eat use your income to eat.
Speaker 2: If you are borrowing, you are borrowing.
Speaker 1: Because you want to borrow and invest in an income
Speaker 1: generated asset that will generate income for you to build
Speaker 1: that loan but your questions are the reason why we're
Speaker 1: here is because every plan we have disappears, it goes
Speaker 1: up in influenced. So we want to try at least
Speaker 1: to have a systematic way to manage risk, manage change.
Speaker 2: And to see what we're doing right and what we're
Speaker 2: doing wrong. Does that help a bit?
Speaker 1: I think I loved to victim. I yeah, bigger, Okay,
Speaker 1: is that what you want to ask? I appreciate you, bigure,
Speaker 1: we get up.
Speaker 2: Yeah, thanks, cal look, thanks for what you do.
Speaker 26: My financial education has no an in large PATTINU.
Speaker 2: So never tell what you do for granted, thank you.
Speaker 1: I'm keep be saying, do you take something.
Speaker 2: About emergency food should be cash or near cash?
Speaker 25: Yes, it's something that's so while you say who puts
Speaker 25: in your.
Speaker 27: Mouth is set in your mounts three or six times
Speaker 27: for what you're saying, any savings, I.
Speaker 2: Can't really surprise.
Speaker 1: Yes, So when you do your let's let's go back
Speaker 1: when we had our our one to five five charts,
Speaker 1: we said, your emergency fund is covering what you call
Speaker 1: your non discretionary expenses. So yes, so that's going to
Speaker 1: be your brandt your food on that right, So what
Speaker 1: we're let me meet this guy.
Speaker 2: So what we're saying is that.
Speaker 1: Your your emergency fund should cover back three to six
Speaker 1: months of what advice is done non discussion your buckets.
Speaker 1: If that whole bucket comes to one million, then your
Speaker 1: medenity fund should be tweeted to two to six million.
Speaker 1: And I'm saying you don't have to wait until you
Speaker 1: have six billion, but at least have one million there
Speaker 1: before you start to invest. It's very very important. If
Speaker 1: you can't have an relenity fund, you can't invest. I
Speaker 1: say it again, if you don't have an amenity fund,
Speaker 1: don't you need to jump to invest because what will
Speaker 1: happen is that they're going to eat that relassy fund
Speaker 1: to combat expenses. You should be in cash on the
Speaker 1: air cash with mess. You don't take that fund and
Speaker 1: buy stocks, it's going to be cash on the air cash. Yeah.
Speaker 1: Details that help, Yeah, it does.
Speaker 2: Grateful question your answer would you think on.
Speaker 3: From the point of view.
Speaker 27: You kind of based on Nigerians situation, we're not really
Speaker 27: exposed to to buy a long time, so many people
Speaker 27: are kind of kept at first because it carry back.
Speaker 2: Also from the points of.
Speaker 6: Your is it is it?
Speaker 7: More so?
Speaker 2: I don't know what you take it like.
Speaker 1: A for property, right, let's talk about nineteen property. I
Speaker 1: don't think Nigeria has the mortgages. There are loans to
Speaker 1: buy a house. But in Nigeria after the mortgage, mortgage
Speaker 1: is supposed to be long term. You can do more
Speaker 1: things to mortgage and Nageria house. Let's just says things
Speaker 1: that would only have more in the ninety But if
Speaker 1: you build a home, it's an investment. If you live
Speaker 1: in that home, then it's never going to be a
Speaker 1: with money because what you are doing is that you
Speaker 1: are reducing your expenses on red So what you have
Speaker 1: does you're taking your income, your active income and you
Speaker 1: have competed passing the income by building your.
Speaker 2: House because you are living in that house.
Speaker 1: Right, So it's always going to be a positive investment
Speaker 1: if you live in that house. Where it becomes complicated
Speaker 1: as if you're building a house to rent out for somebody.
Speaker 1: Rental yields are very very low.
Speaker 2: If you what is what is yield?
Speaker 1: Yield is what you get divided by what you spend.
Speaker 1: So if I build a house in Lucky, I buy
Speaker 1: the land for one hundred million, I build a house
Speaker 1: for fifty million, So my total cost is one hundred
Speaker 1: and fifty million, and I get from the rent of
Speaker 1: that guy ten million. What is ten developed? A one
Speaker 1: untien million? Who can do that?
Speaker 2: Ten? What's ten develo? One apt million? Victor divided?
Speaker 1: Please? Ten development atwo million? What's that?
Speaker 2: Which sharp out to us?
Speaker 1: Victor? Was the answer? Victor? So yeah? Fifty no, no,
Speaker 1: no no no ten rental annual income annual rental ten
Speaker 1: then more than fifty million is worth?
Speaker 2: Tell that is for fifteen years?
Speaker 1: No no, no, yeah, no no no.
Speaker 2: I'm saying for one year. You make income for one year.
Speaker 1: The rector for one year is two million. Divide that
Speaker 1: ten by the cost of the house one fifty. What
Speaker 1: do you get? What's the answer?
Speaker 27: Six?
Speaker 2: So zero point six?
Speaker 1: Are you sure? Tell you a million? I will do
Speaker 1: myself for zero?
Speaker 2: Okay? So multiplier zero point zero six times one hundred?
Speaker 2: What do you get?
Speaker 1: What do you get?
Speaker 2: Six?
Speaker 12: Six?
Speaker 1: So that's that's the rental income, that's the rental deal
Speaker 1: for that year.
Speaker 2: It's very very low.
Speaker 1: So the point that means that when you has to
Speaker 1: build a house, you're getting very very low rental yield.
Speaker 1: The property will appreciate in price. The property will become
Speaker 1: two billion, but the rental yield is very very small.
Speaker 1: If you put that money into a bank or whatever,
Speaker 1: you make more money. You get what I'm side to
Speaker 1: see what I'm going to with that. You make more
Speaker 1: money than you so so if you live in the
Speaker 1: house yourself, right, you make more money. But if you
Speaker 1: are simply what's the word trand to invest in property,
Speaker 1: I'm saying to be very careful, that's the point I'm
Speaker 1: making because you might think you have an asset, but
Speaker 1: it's reliability because you're not making you invest in the
Speaker 1: whole nied on naira and you're ending six percent. If
Speaker 1: you put that cell on the bank, you end tenty percent.
Speaker 1: So be careful to do that capustion. And it's a
Speaker 1: relative here with that campush on property exactly what you're
Speaker 1: in before you invest. But if you're donn live in
Speaker 1: the house, all coms up for you.
Speaker 2: Right, yeah, thank you so good? Perfect equal relators. What's
Speaker 2: in your mindsel? How are you doing.
Speaker 1: There? Relatives?
Speaker 19: Yeah, believe it's.
Speaker 1: Doing a very good job.
Speaker 2: Thanks for being so.
Speaker 19: My question is I think the last speaker I answered
Speaker 19: one of my questions because you know I have a
Speaker 19: property broker.
Speaker 2: Our income is not steady, you know, it's it's fluctuating.
Speaker 2: It comes in taminently.
Speaker 19: It's hard for you to put maybe like five millions.
Speaker 2: Together at the time, but you can get it.
Speaker 19: You can get more than five million over a period
Speaker 19: of maybe like three.
Speaker 2: Months, six months one things like that. So for me,
Speaker 2: what I do is that I stay in the suburb of.
Speaker 19: Leaders, I stay at actually stay included. You're going to
Speaker 19: do has a low the stand of living and the
Speaker 19: cost of living is low. You haven't you have a
Speaker 19: good stand of living there, but the cost is law
Speaker 19: so which enable me to pull my fund into other investment,
Speaker 19: mostly properties.
Speaker 2: So when I get this, this proceeds so.
Speaker 19: Immediately I just the issue of my emergency funds. I
Speaker 19: the moment I remove my feeding, my rent out, defeats
Speaker 19: for my children and things like that.
Speaker 2: I don't really have much savings like that. I hardly
Speaker 2: have savies of like maybe on Drea Ki or what
Speaker 2: we think.
Speaker 19: What I do mostly is that the wmen I get
Speaker 19: my proceed from my business.
Speaker 1: I put it into the properties.
Speaker 2: But that's exactly what you said earlier. That's the yield
Speaker 2: for n is.
Speaker 19: Very very low because my first project cost me close
Speaker 19: to like eighty million, and I'm getting the protein for
Speaker 19: rents day is like maybe.
Speaker 7: Like self fifty thousand paranor.
Speaker 19: But and you still have to consider the cost of
Speaker 19: maintaining repainting the property like once in two or thirty
Speaker 19: years in some small things.
Speaker 7: And so basically what I'm just saying the essays is.
Speaker 2: That for properties is cantatasive to face.
Speaker 9: So the second project costly close to like tenty five million,
Speaker 9: and I'm not sure I will get to that. I
Speaker 9: will get more at one point five or one point
Speaker 9: six million for red.
Speaker 2: So what I want to react is that of what
Speaker 2: is after? Is there any other investment.
Speaker 12: I can put my mind to that can.
Speaker 2: Give me better proceeds? What?
Speaker 7: What?
Speaker 14: What?
Speaker 2: What?
Speaker 4: What?
Speaker 1: What? I'm there yet when I want to talking about where,
Speaker 1: I want to talk about just the process, the structure.
Speaker 1: Next Sunday, olive Next Sunday, we'll talk about where you
Speaker 1: can invest they want to do passively? Where should you
Speaker 1: do that passively?
Speaker 2: Because I get a question, is it's fine?
Speaker 1: But for now we're trying to talk to people to
Speaker 1: say we're in the same party before how approtunity five?
Speaker 2: And I'm saying the first thing you want to do
Speaker 2: do with you.
Speaker 1: That's shared.
Speaker 2: If you look at the I've shared.
Speaker 1: What question should I yourself for your income, yours, your
Speaker 1: assets and your networth? If you follow, I also ask
Speaker 1: a question there on your retirements. So we want to
Speaker 1: do that first. Then once we get through that, we'll
Speaker 1: then come back and say, okay, if we have to
Speaker 1: invest during the five what sectors? How shouldn't ask a location?
Speaker 1: So then invest? But the person that I want to
Speaker 1: do and it depends what you do. Number one, list
Speaker 1: out your expenses.
Speaker 2: Number two.
Speaker 1: Categorize, and number three allocate an amount to each envelop
Speaker 1: and say this how much I'm going to spend and
Speaker 1: they want to track that down the line. Right if
Speaker 1: you go to number four. In number four, I'm talking
Speaker 1: about your retirement plan. While I'm bring a retirement plan
Speaker 1: as the first plan, your most important financial objective is
Speaker 1: your retirement is not to build a house, it's not
Speaker 1: to invest, it's your retirement. Why because your retirement time
Speaker 1: pound you only have a certain amount of periods you
Speaker 1: can compound.
Speaker 2: Let me explain, as Einstein said.
Speaker 1: Compoundings easy one of the world. Compounding works with time.
Speaker 1: Compounding works with time, I'm going to show something in
Speaker 1: that book as well. If you miss out on compounding,
Speaker 1: you've missed out on timing. So if you wait, if
Speaker 1: you wait and say I'm going to invest tomorrow, you've
Speaker 1: lost one extra day of compounding. What this means is
Speaker 1: that you must start to invest, Ellie, and then you
Speaker 1: are the best place to invest is in your retirement
Speaker 1: savings account. Why it grows tax free, it compounds, It
Speaker 1: grows tax free. It compounds. Yes, so you want to
Speaker 1: basically start to make sure that you are investing.
Speaker 2: According to.
Speaker 1: Sooner and I'm sure a diag may get it from
Speaker 1: from my book. Guys, let's I'm shaying on YouTube. I
Speaker 1: will try to share it on Twitter as well. Guys,
Speaker 1: don't sleep on an early investment. I will to share
Speaker 1: this again from on on YouTube.
Speaker 2: Is on YouTube. I wish it on Twitter.
Speaker 1: Starting early is the most underrated investment advice. Start to
Speaker 1: save for retirement today. Don't wait because it's compounds. So
Speaker 1: if you go on Twitter, I've shared on that diagram
Speaker 1: from my book you talk about starting early, you will
Speaker 1: see it there. I want to explain that chat it
Speaker 1: just a few.
Speaker 16: Let's it.
Speaker 1: Can you mute?
Speaker 2: I think your mic has some back most honest. Okay,
Speaker 2: So all right, so.
Speaker 1: Guys, I've heard that chat and if you look at them,
Speaker 1: just spend that chat to you guys real quick. Right,
Speaker 1: if you have two brothers, we've got two brothers fights
Speaker 1: and one brother is aged one brother same age, the
Speaker 1: same age. But look at brother A. Look at brother B.
Speaker 1: So brother A only stepped from the age twenty one.
Speaker 1: He only invested for ten years. Only for ten years.
Speaker 1: So he invested from two and two thousand, two years
Speaker 1: and ten. He only invested two thousand for ten years.
Speaker 1: That's all he did till he was fifty. He never
Speaker 1: invested again. He only invested for ten years. Look at
Speaker 1: his brother. His brother invested double years. Brother BE invested
Speaker 1: for twenty years, but he started at the age thirty one.
Speaker 1: But he invested for twenty years.
Speaker 2: Who made more money?
Speaker 1: The chart is right there.
Speaker 2: Brother A made more money.
Speaker 1: Why because he invested earlier. So the point is this,
Speaker 1: if you invest earlier than a millionaire, you will make
Speaker 1: more money I in return than the millionaire. It's not
Speaker 1: how much cash the millionaire gets, but your rate of
Speaker 1: return is going to be more than the millionaire. Because
Speaker 1: when we can't collate interest. We use compounding and compoundsive
Speaker 1: function of time. So if you look at brother a,
Speaker 1: I'm gonna be Brada started at brott a twenty one,
Speaker 1: he only invested for ten years.
Speaker 2: He didn't invest again.
Speaker 1: His brother invested from the age thirty one, so he
Speaker 1: lost ten years and he invested double the amount that
Speaker 1: his brother did, but he still couldn't cash his brother.
Speaker 1: The guy that starts to invest early will make more
Speaker 1: money than the guy can't invest later.
Speaker 2: So that's the only point I better.
Speaker 1: If you say I'm not any money, I don't investment
Speaker 1: in PFA, you are making a big mistake. If you
Speaker 1: don't compound early, you will lose money. Literally, William what's mine?
Speaker 1: Mister Williams, what's it? W yes?
Speaker 3: Will thank you for the good this thing that you're
Speaker 3: doing here, man, I tell you, am I trying to
Speaker 3: have an a personal question, all right?
Speaker 21: Or investment and saying this thing too. I have a
Speaker 21: rental properly about to have it.
Speaker 3: I'm currently doing it for base, but media has the
Speaker 3: case maybe I'm almost at the finishing touches of this building,
Speaker 3: but I leave that in Europe and the last few
Speaker 3: months due to what is currently.
Speaker 2: Going on the inflation in Nigeria, I'm kind of considering, should.
Speaker 21: I think out a loan? I'm finishing this property, yeah,
Speaker 21: oh should I just you know.
Speaker 2: I don't know, I'm templating, but I looked at it.
Speaker 7: I'm almost done.
Speaker 2: I'm just at the finishing I can put Yeah. But
Speaker 2: when I looked at what this property is going to
Speaker 2: generate from me, me trying to get myself, got up
Speaker 2: the loan. Yeah, with the interest rate, I'm really wondering
Speaker 2: is it.
Speaker 1: A good broadly like Broady Brody. But I have to
Speaker 1: advise you loads and natually are very expensive. So the
Speaker 1: rates of income on rental income compared to the interesting
Speaker 1: pay on the loan, you would pay more money on
Speaker 1: the loan rental income. What all the advice would you
Speaker 1: to say? Get tennis ready, place out, I get tennis.
Speaker 1: That say, if you want to rent this building, pay
Speaker 1: me five days in advance and I'll lock your rent
Speaker 1: at this at this price. So for instance, if you
Speaker 1: come to me and you tell me I can pay
Speaker 1: five years rent today for that house and the next
Speaker 1: five years you know in please my rent, I'll pay
Speaker 1: you use the money from the tenance and you complete
Speaker 1: the building so you have, you have your home, and
Speaker 1: you're not takingning banging, you do tenants financing, do off
Speaker 1: the finance, let the tenants. I don't know how many
Speaker 1: flat days, I don't know. I'll just give you a
Speaker 1: general idea. I'm not so how many flats you have,
Speaker 1: but to see if you can get tenants that we're
Speaker 1: paying advance, use the money and build a house. Yes,
Speaker 1: you you forgot your income, but you have the house
Speaker 1: five years you get the rent. But if you wait
Speaker 1: and keep waiting to get one into completing the house,
Speaker 1: I'm not sure what the house is to start with,
Speaker 1: but I think a bit better is to be more,
Speaker 1: should you say, prudence than borrowing. What if you borrow
Speaker 1: and you don't get tenants that you're owing the banks,
Speaker 1: and then the banks own part of your house. So
Speaker 1: I would be consider that tenate's financing for now?
Speaker 4: Yeah?
Speaker 1: Does that work all right?
Speaker 2: I mean, but like I said, I don't, I don't live.
Speaker 1: So who's who's going you're thinking?
Speaker 2: Would? I was thinking, is a good idea? Think a
Speaker 2: little loan?
Speaker 1: I just I just I just I just want to
Speaker 1: say it. I just answered, I said, the rates the
Speaker 1: loan rates, and actually are high the rental income, so
Speaker 1: if you borrow to complete the house, the tenancy income
Speaker 1: will not pay back the loan. So I'm saying I
Speaker 1: prefer you go to your tenants, go to it, get
Speaker 1: a better real estates company and said rent the house
Speaker 1: out or put it advat and say you want tenant
Speaker 1: that will come and pay today for four or five
Speaker 1: years and they can move. And then when you use
Speaker 1: the money to build the house and move in, so
Speaker 1: you complict the property. The property is yours. You use
Speaker 1: TenneT financing at zero percent to build the house, it's yours.
Speaker 1: After five years you can start taking the red arm.
Speaker 1: I don't think you take I amost in the property.
Speaker 1: If I if you give me numbers and seen the
Speaker 1: pro I can give you more back. But generally this
Speaker 1: is what I think you should do generally.
Speaker 2: Really all right, thank you, I appreciate it.
Speaker 1: Welcome Fami family. What's happening?
Speaker 2: Yes, so this is more of a personal question.
Speaker 17: So my dad's sold one of his property ATA and
Speaker 17: my dad is not The trade is not about in
Speaker 17: financial the traits. So the plan was to sell the
Speaker 17: property and get something in the block of flats somewhere around,
Speaker 17: go go to low daughter. You know, that's all shocky environment.
Speaker 1: But we could not find.
Speaker 17: This was some time around Jim and so with the
Speaker 17: little bit of financial you know, exposure I have, so
Speaker 17: he just kept the money in the band. So I
Speaker 17: was just able to advise him to fix the money
Speaker 17: in one of the colacial brands. And they fixed money
Speaker 17: for fourteen percents, you know, for a year, and the
Speaker 17: money would be ready by January.
Speaker 2: So by Genuary would go.
Speaker 1: Again in search of properties.
Speaker 28: And if we cannot find and I'm also.
Speaker 17: Thinking we should do it better investment instead of default
Speaker 17: and persent to my question, is you mentioned technicfend like
Speaker 17: you whys in this meeting?
Speaker 2: As I was wondering, why is it bond that you
Speaker 2: refer to bond or it's something else?
Speaker 27: How much do you have?
Speaker 2: How much the it's the money is around it?
Speaker 8: A million?
Speaker 1: Eighty?
Speaker 2: Yeah, yeah, you can have port.
Speaker 1: You could have put furs treasuryficates for fifty million any percent.
Speaker 1: I mean I publish it every this gentleman shares it
Speaker 1: with me, and I published just when.
Speaker 2: I walks in, Now.
Speaker 1: What's touse you?
Speaker 2: I mean I can say it's treasure bills or tree certificates?
Speaker 1: For one year. I would give you that. Monk would
Speaker 1: be happy too. So so you know auctions, I publish it.
Speaker 1: It's also my timeline. It's from my deferend I do
Speaker 1: see it, but I just don't. Yeah, so what you
Speaker 1: want to do so keeping away in the bank, keeping
Speaker 1: that amount of the banker's losing money because because it
Speaker 1: is percent. So I would go Monday morning to make
Speaker 1: public banker or stop rocker and say I want to
Speaker 1: invest in the Nigerian building or something like that. It
Speaker 1: gave you much more. It's to sit there in Nigeria
Speaker 1: and it will pay you much more than So I
Speaker 1: would do that on Monday morning to go to the
Speaker 1: broke our bank and say I want to say, write
Speaker 1: it down commercial paper, aerated commercial paper or feeder GOMENTARII
Speaker 1: ask for the when you buy the certificate.
Speaker 2: If it's not if.
Speaker 1: You're not buying it from the carimary market after for
Speaker 1: a yield to maturity, write it down yield to maturity.
Speaker 1: So if you go to the bank and they said, oh,
Speaker 1: we don't have new tragedy bills or willn't have new.
Speaker 2: Bonds, but we have some that's to sell.
Speaker 1: Ignore the interest rate that you see on the face
Speaker 1: they get the ten year interest rate. That's nonsense. I
Speaker 1: don't pay yield to maturity of what they're selling to you,
Speaker 1: or come to buy you from primary markets, right, or
Speaker 1: just put it in the commercial depart.
Speaker 2: Tell them what you need.
Speaker 1: If you have that kind of money, they will give
Speaker 1: you the answer.
Speaker 2: You send me a d M.
Speaker 1: That's a lot of time could do. All right, super,
Speaker 1: all right, guys read? Are you read? Thank you for me? Red?
Speaker 2: You've got the floor A red? Red is not ready?
Speaker 1: Let's get right, go ahead?
Speaker 7: Yeah, okay, I'm fine. So my question goes like this,
Speaker 7: Now I work with the rest just like the equally.
Speaker 12: Doesn't come.
Speaker 7: That's stay studies. Just go why I'm thinking.
Speaker 29: I have some money to burgle, like considering because I'm
Speaker 29: never telling.
Speaker 7: Me like I should buy cones or I should buy land?
Speaker 7: Do you think much better than buying some cryptical assets?
Speaker 2: That?
Speaker 4: Right?
Speaker 1: How was that from? When you want to invest? The
Speaker 1: first question? So when you want to invest, the very
Speaker 1: first to ask yourself is why are you inverted? So
Speaker 1: if you have on the bank I want to invest,
Speaker 1: you don't invest because of what's in front of you.
Speaker 1: The invest to match your objective It's like you asking
Speaker 1: me if you buy a Honda coup or should you
Speaker 1: buy a nine one one the anside, what do you
Speaker 1: want to do with the car? If you want to
Speaker 1: paximates to come, buy nine one one truck, if you
Speaker 1: want to just go to work just to sell, buy
Speaker 1: the hound. So let me ask you the question this
Speaker 1: this Why are you invested for short terms?
Speaker 2: For your long term?
Speaker 1: Why are you investing.
Speaker 7: It's for long term?
Speaker 1: How long is long term? Okay? So if you're gonna
Speaker 1: touch the money for two to ten years, I like property. Okay,
Speaker 1: if you're gonna buy money tomorrow or next next week,
Speaker 1: don't buy a property person. It's not liquid. Property is
Speaker 1: not liquids. If you put your money in and you
Speaker 1: buy Lane, it's not liquid. So don't do that same
Speaker 1: thing with the more coins. Your coins are very very risky,
Speaker 1: even if it's bits coin, it's very very risky. So
Speaker 1: you want to build a pyramid, and your coins of
Speaker 1: your crypto are the top top of the pyramid. So
Speaker 1: that's your like five percent of your portfolio. But the
Speaker 1: base of your pyramids should be solid investments, property, bluetoes, stocks,
Speaker 1: that kind of thing that are the very top crypto,
Speaker 1: So that's an investment for long term. I would say,
Speaker 1: build a portfolio. You don't know how old you are.
Speaker 1: But if you want to buy land, good get by
Speaker 1: land from a good sauce with good paper work that
Speaker 1: keeps its kind of like legits for you.
Speaker 2: If it's for twenty years, fantastic, fancis.
Speaker 1: We have money dure, so you can't take compositional B
Speaker 1: and then you work for what you have to build it.
Speaker 2: That's what I prefer.
Speaker 1: Because you said twenty years. Does that make sense?
Speaker 30: Thank you very much, you very well.
Speaker 4: Thank you.
Speaker 1: Let me guess wammy wammy on our country. There's another mummy.
Speaker 10: Yeah, my song is all right.
Speaker 31: So I am a.
Speaker 1: Country. I keep most of my dollars.
Speaker 10: I'm not making by the moment, so I had to
Speaker 10: be through that counts to buy. It's for left right,
Speaker 10: like I both see quite expensive, So I write the
Speaker 10: notes right, So on my account nextel, why I just
Speaker 10: recordized health statements for up times.
Speaker 32: So in my UH.
Speaker 10: Said, I have pleased how to write my nose my nose.
Speaker 7: That when I actually.
Speaker 1: I'm now usually payments.
Speaker 10: Right, I want to the people, so I have that
Speaker 10: came in right, So I wanted to dollar boats.
Speaker 16: I was looking at the agent.
Speaker 1: Really, I'm seeing that the dollar which is coming down, so.
Speaker 2: I don't want to buy the dollar hand.
Speaker 10: And like doll that comes down, right, So I'm doesn't
Speaker 10: not ways to people so that your one two years
Speaker 10: by dollar whatever reason, then you just stood back into p.
Speaker 1: Investment accounts or I and your.
Speaker 2: Skill in the I couldn't in the fund.
Speaker 32: We hope that didn't allow you likely come down with the.
Speaker 10: Level and the interest from from your phone, we've been able.
Speaker 16: To like a sex you home.
Speaker 10: So that's what I'm That's where I'm kind of you
Speaker 10: that you're come dollar they took or actually your recovered.
Speaker 1: Yeah, I think you're mixed up with a lot of
Speaker 1: things there. So if you have income and I see
Speaker 1: you see you took only for the investments for assets
Speaker 1: right to buy, So you took income to an asset
Speaker 1: they want to pay back, don't pulling them all together.
Speaker 1: So that's time you did. The first of all is.
Speaker 2: Gone withdraw on it for them. We took it from
Speaker 2: what what do you call that?
Speaker 1: You took it from?
Speaker 2: Love them saying what do you call that place?
Speaker 1: To get from account? Was it.
Speaker 23: Okay?
Speaker 2: If you.
Speaker 1: Keep I don't know you. That's so if it's not
Speaker 1: an investment account, Peri's what you pack money into for emergencies.
Speaker 2: Yeah, but it's me.
Speaker 1: But your checks account is not to invest tomorrow.
Speaker 2: You're packing here for ex That's what I'm hearing.
Speaker 1: Yes, so what you should just go ahead and bring
Speaker 1: you back because if you had your retirement accounts and
Speaker 1: investment accounts that is for you to compound from longer.
Speaker 1: I say, okay, yeah, you're taking money from you and
Speaker 1: you borrow from your from your retirement fund, you can
Speaker 1: put it back in. But this is like hear you said,
Speaker 1: it does have money in your massive fund which you
Speaker 1: used to buy an asset in the battle, right.
Speaker 2: And I wanted to back Just put it back in,
Speaker 2: just put it black. Well, remember this money, this money
Speaker 2: is not.
Speaker 1: It's a fresh contribution because you're taking out money. You
Speaker 1: took out money from the income that's spend. Don't put
Speaker 1: that money in. That's why I asked you, what may
Speaker 1: you call it? Because if you had it on an
Speaker 1: investment account, and it will say okay, festing out, fasting,
Speaker 1: all that kind of stuff. But it's just an in
Speaker 1: an out account. It's just when you pack money. It
Speaker 1: doesn't matter the Brits you are buying. Remember the the
Speaker 1: imagine fund is straight to six months of your expenses.
Speaker 1: So if that fund is true to save expenses to
Speaker 1: accumulated there that one is not your lot tying that
Speaker 1: money to your retire les or to any other things.
Speaker 1: If I hear you correctly, it's way packing money that
Speaker 1: you get dollars just to do there for So just
Speaker 1: feel blashed.
Speaker 2: All right, all right, thank you, you want thanks, but
Speaker 2: they can't look at everyone name a relationship manager and
Speaker 2: in the bank and I have customers, so you know
Speaker 2: process the lows and.
Speaker 3: Currently the London rates it's too high now it's surrounded
Speaker 3: sense of which is not factory encouraging businesses.
Speaker 2: This is not a good time to borrow.
Speaker 23: So but I want to ask the questions because it
Speaker 23: turn this this is a nice thing. I said, if
Speaker 23: you us you want to invest in, what's to consume
Speaker 23: to what a part of the good things that What
Speaker 23: are the best investments that could be doing using boringforms
Speaker 23: looking at this current London city.
Speaker 1: Any interests, anything that pays you for investments?
Speaker 2: Okay, to president next time, it's really.
Speaker 27: See how.
Speaker 1: Very much which invested. Do you think this is for
Speaker 1: the printing back today.
Speaker 6: I don't think it's.
Speaker 2: Actually there's not.
Speaker 1: There's not. That's a point of it. It's not. So
Speaker 1: what I want to try to do is to build
Speaker 1: a portfolio that that it's going to grow. So you
Speaker 1: when you buy an asset today, you want to ban
Speaker 1: as you think over time will come for the lost
Speaker 1: income today by ten years example, will then start to
Speaker 1: pay you look at this way, the life of that
Speaker 1: asset school maybe thirty years. If you take your cash
Speaker 1: frow today, you'll be negative and to give you negative
Speaker 1: for ten years. But once the asset becomes positive, is
Speaker 1: that going to give you? Put this in the next
Speaker 1: fifteen years. So if you look at it as if
Speaker 1: you stretch out the time the cash line of that asset,
Speaker 1: that's what I'm asking. Is the same way if you
Speaker 1: build a property, you buck take a loan for actual person,
Speaker 1: like you build five buildings for the first five years,
Speaker 1: you're paying back the bank, so you're not real cash
Speaker 1: to yourself.
Speaker 2: But what was it as a com it's pure cash
Speaker 2: to yourself.
Speaker 1: Nobody will say I don't want to I do not
Speaker 1: want to invest because I'm not going to any just
Speaker 1: for the next five years. No one's gonna argue that
Speaker 1: you get a point making. Everyone's gonna say, I want
Speaker 1: to buy that property because the next ten years I
Speaker 1: am able to make a return that is better than
Speaker 1: what I have to do. I'm going to do this
Speaker 1: ye in long term. One said, so that you say
Speaker 1: I'm losing one today because in addition, well, what do
Speaker 1: you think the asset value rises tomorrow? I might go
Speaker 1: to be a better if you wait for perfectly, you're
Speaker 1: never going to the city to the boat. That's where
Speaker 1: I wanted to do this, all right, thanks to what Jerry?
Speaker 2: What's Jerry?
Speaker 7: Yeah?
Speaker 2: Thanks, I just joined. So I hope my prasion will
Speaker 2: be entirely of I have a question.
Speaker 25: Around in savings investments, and then starts company about that
Speaker 25: we'll get to travel your ana.
Speaker 26: So but during my last last and fire and says
Speaker 26: I could get your last and.
Speaker 10: Was coming to compare to some of the person before.
Speaker 9: My love that.
Speaker 7: I do with that to keep it alive.
Speaker 2: What's like to take what.
Speaker 27: That is?
Speaker 4: Right?
Speaker 2: I don't know what before I try to put some
Speaker 2: shares and checked it was being fine.
Speaker 25: What is the better advice when it comes to that
Speaker 25: should I just signed and maybe not buy more? Need
Speaker 25: to take time to kind of like that because that's
Speaker 25: staying energy persons.
Speaker 1: So for the first one, are you yes, you should
Speaker 1: do it? You actually actually make more contributions. It's called
Speaker 1: additional voluntary contributions. You can conduct you if you try
Speaker 1: to contact.
Speaker 2: Them what they need for.
Speaker 1: Its going to be a schedule to say I wanted
Speaker 1: to call your p called them, say I had this perfe,
Speaker 1: I want to make additional fort of controls to it.
Speaker 1: How can I go about? That's what you can do?
Speaker 30: Okay, okay, if you are not if you if you
Speaker 30: are no longer working, if you're not working, you can
Speaker 30: actually what's it?
Speaker 1: You can actually request for some for some from that account.
Speaker 1: But because I think it might be working, you might
Speaker 1: not be able to get those phones. If you want
Speaker 1: to keep it, you can still make for conversion to it,
Speaker 1: so it's possible. So let's go to your question again,
Speaker 1: why did you buy the sto that you mentioned? Why
Speaker 1: did you buy it? What's the object of buying that stalk?
Speaker 29: The you go was to continue buying more for a
Speaker 29: long term.
Speaker 1: Have youth diffidends and.
Speaker 2: From that stock, have you got anything from that stock. Yeah,
Speaker 2: I got after.
Speaker 1: Okay, it w when you want, I can think, Okay,
Speaker 1: what I'm asking is this is an empty and pace
Speaker 1: pays some good dividends. If you plot your average cost.
Speaker 1: Let's say you know you have a whole an error.
Speaker 1: If you invested your dividends, your cost of what is
Speaker 1: going to fall. So if you certainly don't need the
Speaker 1: returns empty and reinvesteds reinvested, just go back to your
Speaker 1: registered traditional but I think they're called coronation, correation, interation
Speaker 1: to empty and go back to the confirm ware events
Speaker 1: are getting.
Speaker 2: Check for a difference and buy more.
Speaker 1: If you buy more, what you are averaging now your
Speaker 1: cost price of empty and you say it's not doing well.
Speaker 2: If it's not doing well, if you want to keep it,
Speaker 2: buy more and average costs down.
Speaker 1: Thing is not doing what I want said, go ahead
Speaker 1: and sell.
Speaker 2: But it has to ansdly.
Speaker 1: Have tom meet your objective. Buy that you actually bought
Speaker 1: that stock in the first place. If you want to
Speaker 1: hold it for long term, I would say invested in this.
Speaker 1: I've been down the cost. So like you carry down
Speaker 1: the cost, it's look at the price you put it.
Speaker 1: Ask what did you have the cost that you have
Speaker 1: because you invested your diffident. You just don't want to
Speaker 1: major it.
Speaker 2: Yes, but we talk about the.
Speaker 6: Already.
Speaker 1: But the cost if it was a share a hundred
Speaker 1: error and you get the dais of ten error, you
Speaker 1: then use that ten error to buy a new stock. Okay,
Speaker 1: it's almost free me. But that ten that I came
Speaker 1: from your hundred mir so your cost right, you might
Speaker 1: have more quantity with the same hound seeing you want.
Speaker 1: You use to buy hundred stock, then you hold the
Speaker 1: stock gives.
Speaker 16: You ten error.
Speaker 2: When you take that ten you buy more stock.
Speaker 1: It's from the same one hundred that you because initially
Speaker 1: that you point a new stock for your aff geve
Speaker 1: some for to go from pregner to ninety to fifty.
Speaker 2: So we then compare with the market price. You're not
Speaker 2: compared at to a hundred.
Speaker 1: You're to compare reduced pride because you have reinvested your principle.
Speaker 2: You see why I'm going to do this.
Speaker 1: So if you did his answers again, you might be
Speaker 1: surprised that you made more money because you've been invested.
Speaker 1: So for you guys abroad, I am in Naira for
Speaker 1: medal courses in one int thing about just for investing
Speaker 1: individence and I too, that might be a good option
Speaker 1: for you.
Speaker 6: Okay, thank you so much.
Speaker 1: Let's get to go to.
Speaker 4: Hello.
Speaker 1: Ok yeah you hi ahead.
Speaker 2: Okay, I'm so my name is cool.
Speaker 1: So I might have a question.
Speaker 2: I got good first of.
Speaker 29: All about like my business and question to go to
Speaker 29: the question of the mind. Okay, So the question is like,
Speaker 29: I'm work, I work like face.
Speaker 33: Let me see, I lied to issue to the business
Speaker 33: like working like fifty percent because we can get so
Speaker 33: we're being fifty cents by revenue every like.
Speaker 29: Watch and the kind of nok So, now my question
Speaker 29: goes like should I should get our own speech?
Speaker 2: I don't know any question.
Speaker 1: Yes, that's a great question. Let me talk about rents
Speaker 1: and startups.
Speaker 2: Let me ask your question just like I rather report.
Speaker 1: One that I said the proper to start off ba
Speaker 1: die after two years?
Speaker 2: Do you know what.
Speaker 7: You know?
Speaker 2: So that's when the rents expires.
Speaker 1: Okay, So in fact, it is right, if you start off,
Speaker 1: you shouldn't be borrowing willing to pay for.
Speaker 7: Rent Okay, yeah, I get that.
Speaker 32: It was actually like currently the revenue you are making
Speaker 32: can cover the events, but the issue because like we
Speaker 32: are being fifty percent, we're currently.
Speaker 11: Using like an event or kind of table we have
Speaker 11: at that more space. What this is that because we're
Speaker 11: saved by students, we generate like we've generate for you,
Speaker 11: that's seven.
Speaker 1: Months of generated three million.
Speaker 33: Was because we're being fifty I'm giving events over more
Speaker 33: similial lands, not million school.
Speaker 2: So at the end of every we handle apprecial, we
Speaker 2: hand the market.
Speaker 1: I want to go the very very simple thing. You're
Speaker 1: incomparable your current rent you want to borrow wanting to
Speaker 1: go to do what.
Speaker 2: Like it's not a rented but it's kind of like
Speaker 2: an agreements kind of thing.
Speaker 33: So fifty about with generally, So now we want to
Speaker 33: have our own specify that used to invest in all
Speaker 33: that things get.
Speaker 1: Because like so can you and your percent cover the reds?
Speaker 1: You please?
Speaker 2: So what's the question?
Speaker 1: What's the question?
Speaker 12: Then the question is should be taking to get own?
Speaker 1: What are you saying?
Speaker 23: Said?
Speaker 2: So let me ask you again? Can you cover your
Speaker 2: rights the new place?
Speaker 19: What you.
Speaker 2: Why not?
Speaker 4: You center?
Speaker 2: You gonna stand whatever we.
Speaker 1: Ever, this's a good question. Fifty percent right now? Can
Speaker 1: you cover your rids in the new place?
Speaker 23: Yes?
Speaker 29: Yes, yes you can't because because we're ring like all
Speaker 29: that house like market operation.
Speaker 1: That's what I like that. That's what I asked you.
Speaker 1: I asked you a simple question. The fifty percent you
Speaker 1: and your income you end right now? Can it afford
Speaker 1: you to get a new place from your income and
Speaker 1: your gun income combined rate commate income? Can you complate.
Speaker 4: Yes?
Speaker 1: Like yes, what's the question?
Speaker 2: I mean, sure you understand what I'm saying, Like, the
Speaker 2: question is the keep.
Speaker 1: We have no cash race? You understand what's what's cash?
Speaker 1: Cash income or letting work cash?
Speaker 2: The balance? Let me see what balance that's the next profit.
Speaker 1: It's like in the band, the balance you have, not
Speaker 1: the band. So because I'm asking you specific questions, but
Speaker 1: you answered that, you go back. So let me ask
Speaker 1: you face specific Right, you make seals, right, you make seals,
Speaker 1: then you pay expenses. You pay expenses. Yeah, then you
Speaker 1: have net income? Right? Are you paying rent currently?
Speaker 4: Yes?
Speaker 1: Okay, So see as I'm asking you, can your revenues currently?
Speaker 1: If you go to a new place, can you pay
Speaker 1: for the rent of the new place from your revenues?
Speaker 22: Yes?
Speaker 1: So what's the question.
Speaker 2: If you can't pay it, then go.
Speaker 20: Okay?
Speaker 1: Thank You don't borrow money to pay for your new place.
Speaker 1: Don't don't borrow mons, pay for rent. Pay for rent
Speaker 1: from your organic income. If you cannot afford the rent
Speaker 1: from you organic income, then the business cannot afford that. Please,
Speaker 1: and you can don't borrow money to do that. No,
Speaker 1: but if you've said that yes, your organic income can
Speaker 1: pay for rent, then do it. But don't borrow. Don't
Speaker 1: live where you are paying your royalty to rent the
Speaker 1: space to borrow money to go and rent in place
Speaker 1: that you Are you buying it or are you renting
Speaker 1: it just to rent?
Speaker 2: No?
Speaker 1: Please don't stay where you are or use your organic
Speaker 1: income and convert the rents. Please, Yeah, okay, appreciate that.
Speaker 2: Hey guys again us to recap.
Speaker 1: Right, we're talking about special health check. I've talked about
Speaker 1: the sheddle. How your objective in this sheddle is to
Speaker 1: move your active income to your passive income. So income
Speaker 1: is not wealth.
Speaker 2: Income has got to be converted.
Speaker 1: To active to income for you to income has got
Speaker 1: to be converted to an asset for you to be wealthy.
Speaker 1: So we're saying you move your active income, which is
Speaker 1: your salary, to a passive income, which is what income
Speaker 1: you make when you're not working.
Speaker 2: That's not one thing.
Speaker 1: Then one say number two, make sure your passive income,
Speaker 1: the money from rent, from your share of business, think
Speaker 1: that you end when out there can cover your non
Speaker 1: discretionary expenses. I've shared both diagrams. That explains what passive
Speaker 1: activists I want, not discretion in communs. So that's what
Speaker 1: want about today. Then we'll talk about your budget. On
Speaker 1: your budget for twenty five, list out to your expenses.
Speaker 1: You can pick the month of October. No the final
Speaker 1: set list out your expenses. Go to your bud account,
Speaker 1: pull up your statements, list your expenses, categorize your expenses,
Speaker 1: and then I locate in points for experts for twenty
Speaker 1: twenty five. So we'll talk about your budgeting. We'll talk
Speaker 1: about how you're past yet your objective to convert active
Speaker 1: to passive over a long period of time. Jesse also mine,
Speaker 1: Jesse go ahead.
Speaker 6: Thank you for the pushing dispe with your share.
Speaker 31: So my question is students and put puting to work
Speaker 31: at an organization. We are about one hundred thousand a year.
Speaker 31: So the last year I was able to save three
Speaker 31: hundred thousand there in money markets bought Church Review about
Speaker 31: one hundred thousands around pcent interest rates and a logging
Speaker 31: about one hundred thousand for next year. I'm looking to
Speaker 31: go ahead to in some certification un certification in finance
Speaker 31: and the cost about seven hundred thousand there, So our listeners.
Speaker 6: To ask what do you think?
Speaker 1: Question about what's the stification, what's the satisfication? What is
Speaker 1: question for cf so acording it to do a lot
Speaker 1: for four undred Yeah, that's that's a better investment, your investment.
Speaker 1: So if you can get a CFP, it's going to
Speaker 1: boost your active income. So it's like you're investinite in yourself.
Speaker 1: So if you've got that, yeah, I will take it. Okay.
Speaker 1: So another idea can be interesting if you think you
Speaker 1: can see past, that's an investment. Thank you, Okay, try,
Speaker 1: thank you very much. Good luck with this, sir.
Speaker 2: Thanks thanks my look at Julia, Julia, what's.
Speaker 25: I'm carlor believing a man herd?
Speaker 2: Yes, sir, you are all right, Thank you very much.
Speaker 12: I'm just just saying I'll followed you for a long
Speaker 12: and then agine this was going on.
Speaker 4: I was stumped upon this.
Speaker 12: I'm so that I can't Yes, okay, first of all,
Speaker 12: I I just got exposed to a stockbroker official stockbroker
Speaker 12: earlier on this year because I've been trying to figure
Speaker 12: out how to get involved in the captain market in Nigeria.
Speaker 2: So I got involved in one. And my question is
Speaker 2: two food.
Speaker 12: First of all, he's been sending me or they have
Speaker 12: been sending me on commercial papers in mid thirty percent,
Speaker 12: twenty nine percent or one twelve percent dollars, and I
Speaker 12: want to just and I've seen a ratings, A plus,
Speaker 12: A plus plus ratings on these commercial papers. I want
Speaker 12: to just ask how how safe are they is and
Speaker 12: historically are the good part time or.
Speaker 2: Short term investments.
Speaker 12: That's my first question and my second one is kind
Speaker 12: of like to imagine that and someone go from most
Speaker 12: stop procrast multiple stocks at the same time or do
Speaker 12: I have to stick with one? And I think the
Speaker 12: last question is how how can I invest understand how
Speaker 12: to invest in the stock.
Speaker 2: Market and local and internationally?
Speaker 12: What would be the best place to get the best
Speaker 12: information to make me make informed decisions for my investments
Speaker 12: going forward?
Speaker 2: Thank you?
Speaker 1: Yeah, So that's the second question is easier, So I
Speaker 1: grab that one. Yes, you can have multiple stopping account
Speaker 1: what advice you have one cs CS? So like look
Speaker 1: at it this way you can buy shares too many broadcasts?
Speaker 1: What have one c S expand rather than ask where
Speaker 1: your shares are going to be deposited. So if you
Speaker 1: buy from broker A, have your CSS with them. If
Speaker 1: you use broker B, then go have your c S
Speaker 1: c S with telbroker you to send the shares to
Speaker 1: your cs S. Right you here, you know what I mean.
Speaker 1: So you have one c c S, but you can
Speaker 1: have many to stop broker not a problem with that
Speaker 1: number two and the first one you talk about. They're
Speaker 1: sending commocial and they are abited. So cps are usually
Speaker 1: what is commutual paper is is that the company itself
Speaker 1: is borrowing. Is borrowing. You are lending money to the
Speaker 1: company itself, not the bank. When you go to a
Speaker 1: bank and you give the bank money to invest in
Speaker 1: the bank, that's called.
Speaker 2: The fixed deposits.
Speaker 1: So the bank is live. The bank is saying we
Speaker 1: are taking that money from you and are going to
Speaker 1: promise to give you a return. And the bank is
Speaker 1: ensured by nd I C Right, so when you get
Speaker 1: to bank one of to five million, it's ensured by
Speaker 1: the NDIC and the bank is liable. When a bank
Speaker 1: sells a commercial platform say MTN. It is mt and
Speaker 1: you are lending money too, not the bank. So because
Speaker 1: it's because it is riskier than than the than the bank.
Speaker 2: Empty MPs you the higher RATI friction.
Speaker 1: So if you can stomach the extra risk coulture papers,
Speaker 1: are you good for the end the guaranteed rate of
Speaker 1: friction if you can stomach the added risk. So that's
Speaker 1: the answer right there for you. On commercial papers and
Speaker 1: I like them. If you are aerited and all that,
Speaker 1: a good company is empty n you know, so you
Speaker 1: can say, wow, it's empty and the bluetube stock highest
Speaker 1: second highest cap stock in Nigeria, they won't go down.
Speaker 1: That's going to be your constrution, superbs.
Speaker 7: You can do that right.
Speaker 1: Your last question about how you plan anymore? I mean
Speaker 1: intent is filled with free resources. If you go to
Speaker 1: YouTube and industied teach me about stock, you will you
Speaker 1: see tons of videos on YouTube that teach you about stoff.
Speaker 2: So do that.
Speaker 1: Go online, YouTube, Instagram, plow, lots of channels, Google on
Speaker 1: blue bed, look Blue Bluebell or your TV. You start
Speaker 1: to pick up the language and the intent of what
Speaker 1: they are seen and then you come and expert just
Speaker 1: like how you watch you know, if you have an
Speaker 1: interesting football, you don't who you know what offside is
Speaker 1: what goble is the same thing with the investments. You
Speaker 1: have to pickle it. I'm still on there and you
Speaker 1: can basically learn what they're saying and all those things
Speaker 1: mean to you. That essentially is let's not margic to it.
Speaker 1: Thank you very much in perfect Hey, welcome brother, thank
Speaker 1: you so much. Let's get wasn't spoken, I've got apparently
Speaker 1: have you spoken? It's go ahead, Daniel or catching that.
Speaker 1: Let's be catching.
Speaker 2: Thank you everybody, Thank you so call.
Speaker 1: I just trumbled upout this.
Speaker 2: Space and I'm really enjoying the Oh well, I want
Speaker 2: to ask what you think about.
Speaker 1: Such too.
Speaker 2: She's being the smallest unit of this makes going.
Speaker 1: You're just speaking, you're speaking English, Sato, She's the smallest
Speaker 1: scenes of this.
Speaker 2: It doesn't mean anything. It means nothing.
Speaker 27: I was.
Speaker 18: I want to ask if what you think about investing
Speaker 18: busis in general, because we know we can see the
Speaker 18: future it's going before its markets are trade for I
Speaker 18: see the future and how the market is going, so
Speaker 18: and then the future where one one sattooshe be equal
Speaker 18: to one dollar someday. And let's say in Nigeria has
Speaker 18: billions of the satleges and really the world leaders are
Speaker 18: stacking of busis now.
Speaker 2: We can't see the future of it. So what do
Speaker 2: you think about discoines.
Speaker 1: But I'm going to tell you this, Bitcoin now seems
Speaker 1: to have more utility because of the US president wants
Speaker 1: to invest in the US presidents that Donald Trump, the
Speaker 1: US present elects a lot of promises to be to
Speaker 1: the market and if you gets elected, you will support them.
Speaker 1: His SEC chairman, the SECT and Exchange chairman is pro bitcoin.
Speaker 1: They are talking about bitcoin reserve. If you guys in
Speaker 1: the said I was on doing bitcoin reserve. I think
Speaker 1: the state of Florida, I think the lot of our
Speaker 1: states are doing bitcoin reserves. Are better is doing bitcoin reserve.
Speaker 1: So there seems to be a you know, the governments
Speaker 1: seems to like bitcoin, which means demand is up. So
Speaker 1: because demand is our prices could go up. I don't
Speaker 1: yet see. I saw was micro strategy that I talk
Speaker 1: about how Michael Cillo. I also saw a guy and
Speaker 1: I forget he was talking about how they were using
Speaker 1: bitcoin as collateral for property lending, which I found was
Speaker 1: very very interesting in that they were using when they
Speaker 1: when you come and borrow. You want to build a
Speaker 1: whole apartment, compt with them. They make you buy bitcoin,
Speaker 1: and they do bitcoin acts as security for the loaned
Speaker 1: given to you, so that if you can't pay back,
Speaker 1: they're able to then take this to bitcoin as collateral.
Speaker 2: That was very very interesting.
Speaker 1: Why it was interesting work because it's busy utility because
Speaker 1: before now bitcoin was only going up because of the
Speaker 1: greater food theory. If I buy it today, I can
Speaker 1: sell soyer tomorrow. That's greater food theory.
Speaker 2: But now I think we're seeing utility coming to the play.
Speaker 1: I mean, if that guy's idea catches on that, if
Speaker 1: you want to buy a house, the bank will tend
Speaker 1: to also buy bitcoin. So when you buy bitcoin, which
Speaker 1: your collateral, if the property you buy you can only
Speaker 1: service the collateral, then the bank will take a bitcoin
Speaker 1: and sell. So it looks like a bit off your
Speaker 1: tuties coming in space. For generally, lots.
Speaker 2: Of governments seemed to be open to the idea.
Speaker 7: How can I just into that.
Speaker 1: If you think that you have someone you can invest
Speaker 1: five ten percent of your portfolio in it, if you
Speaker 1: can stomach the risk, that's how you can invest in it, all.
Speaker 10: Right, all right, thank you.
Speaker 1: You're welcome. He catch.
Speaker 12: I can, yeah, thank you all listening for your spaces
Speaker 12: every Sunday.
Speaker 1: I just want to have a question here. If, for instance,
Speaker 1: I don't receive dividends on its clusters then holding and
Speaker 1: who do I contact? Is it my my broker or
Speaker 1: the registrar for that? What's cluster the registrar to the
Speaker 1: registrat Okay, okay, the brocast the broker happened to do that?
Speaker 2: You're distract yeah, okay, perfect, all right, thank you.
Speaker 1: This this is year of Arsenal, and I don't see
Speaker 1: any year of asking for speech year of arsenal.
Speaker 2: That's not name the just say yes speak Daniel Blair. Okay,
Speaker 2: So thank you for the opportunity.
Speaker 7: I've been following the space for.
Speaker 6: So my question is.
Speaker 16: Basically a Techi brand brand companies and lot firms. So
Speaker 16: over because of the day, I've been able to amasive
Speaker 16: of resources to go into business. The restaurant business persiblity
Speaker 16: is doing work. So in addition to that, I also
Speaker 16: got a coupul of books that my female So this
Speaker 16: particular space is talking about converting your income to passive income,
Speaker 16: which I find interesting because it is something.
Speaker 7: I've been hoping to achieve during the end of this
Speaker 7: year or lness.
Speaker 1: So basically the business that I have been.
Speaker 16: Able to start this year and is running, the restaurant business,
Speaker 16: is regarding my whole attention, my whole service and older.
Speaker 1: So right now I'm.
Speaker 16: Trying to transition into having maybe one or two other
Speaker 16: business would require us much of my attention.
Speaker 7: So I what considering maybe I could get a shop.
Speaker 16: To buy electronicst traser all ourselves, maybe low liquidity goods
Speaker 16: that could maybe put someone there.
Speaker 1: I would require me to.
Speaker 16: Be that constant, or maybe just get a bike or
Speaker 16: cake then get a driver.
Speaker 2: So I want to have What are the key is
Speaker 2: that we watch out for.
Speaker 19: When transiting your your your.
Speaker 16: Finances from active and steadying come to passively Because if you.
Speaker 1: Fit this wrong, if we lose everything, you could.
Speaker 2: Lose the one that is active, you would not.
Speaker 16: So the world that is that is passive.
Speaker 2: So what are the keys stay by stave kind of
Speaker 2: that we could do?
Speaker 1: And do we are we navigate.
Speaker 16: Ourselves so that to be seas and are we so sister,
Speaker 16: thank you?
Speaker 2: Yeah?
Speaker 1: I think the case is to make sure that that's
Speaker 1: wherever you're infested is going to be managed by some
Speaker 1: that goes what he's doing. I hear you say you
Speaker 1: want to buy a case active. It's not passive because
Speaker 1: you have to fool like a care every day. So
Speaker 1: you want to in first something that you're not going
Speaker 1: to be involved in, but the money comes. Anything you're
Speaker 1: going to put you are going to be worried about
Speaker 1: in the income commun it's not passive. So that's the person.
Speaker 1: I'll say, who is the manager of that place you
Speaker 1: want to put your money? Is it a corporate? Is
Speaker 1: it a person? If it's a present, how long has
Speaker 1: he done what he's doing? Is it giving you a guarantee?
Speaker 1: Is like that? I mean the same way you invest
Speaker 1: in something those same questions. It all comes to you
Speaker 1: and says, I want to go to America and buy apples, ninty,
Speaker 1: how do you who is here? Does ever passport? Or
Speaker 1: how can it bring apples to America? Almost questions you
Speaker 1: asked is simely you want to ask this present before
Speaker 1: you invest your money. Passive means you and not involved
Speaker 1: in the running or worrying about that income, but you
Speaker 1: get money. So think of it that way. If I
Speaker 1: give a want to diagnot this cement I don't worry
Speaker 1: about cement.
Speaker 2: I know it's not going to be to bedd back.
Speaker 1: I don't have to worry about what they're packing their
Speaker 1: cas Where I get that limestone from, I just get
Speaker 1: an income compassment. That's what passively incompits. Right, doesn't mean
Speaker 1: you have You can buy equity, you can buy property,
Speaker 1: you can invest in that, but it has to be
Speaker 1: something that you are not going to be involved in
Speaker 1: so you can then dives fiveway from active to passive
Speaker 1: doesn't answer the question.
Speaker 6: Sir about our life.
Speaker 17: So in in in I don't want to do.
Speaker 19: Love with physical business grand but I wanted to be.
Speaker 2: A kind of passive.
Speaker 1: You can't be you if if you are involved in
Speaker 1: the business is not passive. You can't have the second
Speaker 1: business and call it passive. It's still active income. So
Speaker 1: if you own a world restaurant, then you go buy
Speaker 1: a bottling company, those are active incomes. They're not passive
Speaker 1: because you are involved in the bottling company and the restaurant.
Speaker 1: The whole idea of passive is a diversify your income
Speaker 1: away from what you are going to be doing day
Speaker 1: by day to where you simply received the return from
Speaker 1: my investment that's the whole idea.
Speaker 7: Oh that was listening.
Speaker 1: Thank you, all right, super let me get Isaiah, Isaiah,
Speaker 1: you'll be your intern is breaking? Isaia realised this start Isaiah?
Speaker 1: Go ahead?
Speaker 2: Isaiah heard it? Yeah, yeah, I see your.
Speaker 1: Intence is very very bad, Isaiah. Can you speak as
Speaker 1: I do once? Okay, I've got a year of arsenal?
Speaker 1: Yeah please, can you speak year of arsenal? Le's get
Speaker 1: a stop kudos?
Speaker 22: Stop?
Speaker 1: Could fine? I do not appreciate you.
Speaker 14: I have.
Speaker 6: Well invest.
Speaker 2: And I'm push I did.
Speaker 13: That's fun, but okay, but I.
Speaker 2: Don't invest in all the international.
Speaker 1: Station and your others. I can't hear Christmas.
Speaker 2: Can you fix your audio comeback? I can really hear
Speaker 2: what you're saying?
Speaker 1: Yeah, go ahead, okay, I said, I am annoying business ergy.
Speaker 1: That's fun. I wanted because Christmas. But I can't hear
Speaker 1: you fix the audio comeback. I can't hear what you're saying.
Speaker 1: Let's get speaker. Let's get this year of fast. You're
Speaker 1: fasten calling three times. I'm not hearing anything.
Speaker 2: You're a fast three go ahead?
Speaker 7: Yeah.
Speaker 2: Thanks for all I do in the space.
Speaker 1: So just.
Speaker 12: Me with regard to commercial papers, I.
Speaker 32: Like you to help with what's what's the what's the
Speaker 32: achieve or what do I focus on between the discount
Speaker 32: rates and the imply yield?
Speaker 1: What should be my focus?
Speaker 2: Is it a discouverry or the imply you?
Speaker 1: That's one question.
Speaker 12: Then secondly, how do I approach from Nigeria and investing
Speaker 12: index funds in the US?
Speaker 10: Thank you?
Speaker 1: So they are what you want to look out for.
Speaker 1: I do what you say, imply friendly, YouTuber, charity your
Speaker 1: bicycle to the market. Correct, I just saying, right.
Speaker 7: Not at all, I'm actually buying like.
Speaker 1: Okay.
Speaker 24: So my stockbroker frequently sends you know, there are couple of.
Speaker 1: Commercial papers out there and all that, so they usually
Speaker 1: send it to me value. So I just wanted to
Speaker 1: know the difference.
Speaker 24: For example, one of the that I got recently, the
Speaker 24: discounts rate was twenty four point ninety eight.
Speaker 2: Percent and then implied yield was twenty eight point.
Speaker 1: Five the discount I think that's the CPN discount rate is.
Speaker 1: So look at this. To it right when the company
Speaker 1: when the company issues the commercial paper, the issues the
Speaker 1: paper on Monday, and they're paying you ten percent. If
Speaker 1: you buy the paper on that same Monday, you're going
Speaker 1: to get ten percent. But let's say you buy the
Speaker 1: paper on Thursday. On Thursday, interest rates in Nigeria has changed.
Speaker 1: That's the discountry you're talking about. The interesting have changed.
Speaker 1: If interested go up the.
Speaker 2: Present the bond comes down. If it doesn't go down,
Speaker 2: the person of the bunk goes up.
Speaker 1: So when they give you the implied year, they are
Speaker 1: telling you that if you are buying today based on
Speaker 1: the interest rates in their account me, your implied year
Speaker 1: is not that ten percent, but whatever yield that you
Speaker 1: are seeing that are according to you. So if you
Speaker 1: buy that bond, you can buy at a premium at
Speaker 1: a discount.
Speaker 2: That's the implied yield.
Speaker 1: That's the real not the coupon, not what the company
Speaker 1: paid on Monday, but what the company is, what the
Speaker 1: stock is not, or what the bond is now saying
Speaker 1: as on Thursday. That's the implied yield. So when you
Speaker 1: are buying secondary market with me that you are buying
Speaker 1: from them they've bought, They're said to you you want
Speaker 1: to focus on the implied year, that's what you get.
Speaker 1: But if you're buying at the primary market when the
Speaker 1: company issued, you can only focus on coopon. So the
Speaker 1: answer phrase, you're going to look at the implied year.
Speaker 1: That's what you're really going to get if you give
Speaker 1: them yourn ira makes sense, all right, I think that
Speaker 1: makes sense to that impliedly thinking.
Speaker 7: So how do you approach invested in index.
Speaker 13: Phones in the viewers so much looking like something.
Speaker 30: In that, you know, because I'm usually very cautious or.
Speaker 13: Rather mindful about fees and not that, not in from
Speaker 13: the loop fees and all that, but just generally.
Speaker 1: Working with a brooker and all that, how do I
Speaker 1: how do I go from Yeah, just just find the
Speaker 1: index fund that I want to invest in. You can
Speaker 1: you can buy an index et F like all the
Speaker 1: vt I for America or V for America to find
Speaker 1: the one you want to invest in. What markets are
Speaker 1: you want to index? You want to again exposed to index?
Speaker 1: Find it out In Nigeria we now have absolutely that
Speaker 1: offer you access to the US markets. Rest Ntini, a
Speaker 1: second Registan, there's Shaka, there's Cowie, there's a Bamboo. I
Speaker 1: think there's a rise as well. All these apps.
Speaker 2: Allow you'll give you a campaign.
Speaker 1: I'm buying the index fund abroad or an index ETF.
Speaker 2: You can buy an ETA that tries to index.
Speaker 1: As well, So find whatever you want to buy GOL
Speaker 1: and say that's buy UK market, just like what's what's
Speaker 1: the equity index for you? Market to give it to
Speaker 1: you and there and they categorize in anywhere. It can
Speaker 1: give you only a blue chip or small caps or
Speaker 1: large caps whatever. If you buy VT, I like, I
Speaker 1: give more fility because it's Vanguard. Verus's massive and cost alone,
Speaker 1: and I always like ETFs that. In response, Vanguard has
Speaker 1: something called VT. If so VT media will buy all
Speaker 1: the stocks on earth that are good quote unquote, BT's
Speaker 1: just you're gonna buy everything after that VIS, there's VT I.
Speaker 1: So your VTI is just American stores, five thousand of them.
Speaker 1: About five after VT, there's VO. VE always talk about
Speaker 1: not just American stocks but the top five hundred. So
Speaker 1: there's VT, the VT either VO. So you can see
Speaker 1: how to break it down. So if you want to
Speaker 1: be exposed to the larger market VT, VVT just it's
Speaker 1: just American market VT. I just suppose to that's five
Speaker 1: on the American stores view. If you don't have to
Speaker 1: buy American store to buy everything's from a proper American stalk.
Speaker 1: There is b x U s SO b X us.
Speaker 1: Just buy everything Shell Toyota. Now Americans talk, so the anside,
Speaker 1: find where you find where you want to be exposed to.
Speaker 1: If you want to buy Greece, look for the Greece
Speaker 1: index one. Then you go to your actional Apple sty
Speaker 1: Do they have this index form as listened on the app?
Speaker 22: They have it?
Speaker 1: Fantastic? Don't have it? Then you have to do something else.
Speaker 1: Does I work for you? Okay, that's fine, thank you.
Speaker 2: So you're rather each year I prefer its just for
Speaker 2: certain abases.
Speaker 1: But if you can in this one, your call.
Speaker 4: Okay, that's thank you.
Speaker 17: API.
Speaker 1: You're welcome as I want to inventor as a.
Speaker 16: Okay, good evening, sir, Fine, thank you so much for
Speaker 16: the good book you're doing.
Speaker 12: And I just want to make but this might not
Speaker 12: be very related, but I've been trying to like.
Speaker 2: Hate you on your profile for a while. Now be
Speaker 2: concerning an idea.
Speaker 3: I don't know if you have the mentorship program that
Speaker 3: work and paying to enroll in.
Speaker 2: I have been.
Speaker 1: I have been in residential real estates here and.
Speaker 19: Has been very great, Like this year was extraordinary for me.
Speaker 1: And next year I want to ventrain into commercial real
Speaker 1: estate and do other things. I had before.
Speaker 3: Now, I tried my best to study something to do
Speaker 3: someone life schools majorly from outside the country.
Speaker 16: Like I'm Indians and because too just like learn more about.
Speaker 3: Realesting, financing another and in me clearly that real est
Speaker 3: real estate is more about filers than about engineering or
Speaker 3: editing else. And I've been trying and from the need
Speaker 3: to I've been able.
Speaker 2: To study basically from an online school that are like
Speaker 2: natures that.
Speaker 3: I wanted to do with that and you're asation all
Speaker 3: the digraphy work in Nigeria and the economica.
Speaker 2: This is uh the other thing that there are.
Speaker 1: I felt like they still envoid, So I said, what
Speaker 1: what was the question? Yeah? So the best is this
Speaker 1: if you have a page mentorship program that.
Speaker 2: With work and already and secondly, if there is any
Speaker 2: if any way that I have a if the if
Speaker 2: there is any.
Speaker 3: Way, if it is any way that I can get
Speaker 3: in touch with you maybe.
Speaker 28: After this, after this night, for us to like maybe
Speaker 28: have a talk, like if.
Speaker 2: I can get your your email or maybe.
Speaker 10: Contact no about that we could talk.
Speaker 1: I don't I don't have any paid mentorship.
Speaker 25: I don't need to do that.
Speaker 1: I just do this what I do on Twitter if
Speaker 1: you want to, you can send me a dear if
Speaker 1: you want to buy. This is all I do, just
Speaker 1: this sort on Twitter and yeah but it talks me.
Speaker 1: But what kin I do? Like if you UNDERSTANDE. So
Speaker 1: that's a project, I mean, so let's talk about it,
Speaker 1: you know. That's all I see.
Speaker 2: What you see? Yeah, good evening, Talu, Hi, thank you
Speaker 2: for this very well.
Speaker 1: Thank you.
Speaker 2: I've been listening for what I'm trying now.
Speaker 22: So I just want to ask again because you did
Speaker 22: want simple math.
Speaker 2: We are comparing rein TI.
Speaker 27: Income resors over the cost of the project you did
Speaker 27: any little about one fifteen came in too, about six percent.
Speaker 2: But I want to ask, are we.
Speaker 7: Not considering situations where.
Speaker 16: You're paying me on the next year or twenty meal
Speaker 16: your reigning school to go.
Speaker 1: To like twenty million or ten million.
Speaker 2: Isn't that you were to also look at it like
Speaker 2: rainy paying com is not?
Speaker 7: That's no.
Speaker 2: I mean your income is s paradum, right, and it
Speaker 2: is s paradum.
Speaker 1: So look at all where if you have one nyr,
Speaker 1: you can invest in stock markets, you can invest in
Speaker 1: a bond market, you can invest in a dollar for
Speaker 1: pricing market. Youre also invest in property. So how do
Speaker 1: we compare across different as a classes? Where to compare
Speaker 1: the return or the yield? So to compare property with bonds,
Speaker 1: were to compare what they give us if we invest
Speaker 1: the same amount of money. That's what we call the yield.
Speaker 1: So how do we calculate yield? Yield is what we
Speaker 1: make divided by what we have invested, what we make
Speaker 1: for that period. So let's pike it period. You can
Speaker 1: picket pieros to generate in twenty four till the summer
Speaker 1: twenty be four.
Speaker 2: And the point that the meaning is if.
Speaker 1: You take a one hundred million and you buy bonds,
Speaker 1: you're come back to pay you twenty test percent. This
Speaker 1: is the government. So that means there's no risk twenty
Speaker 1: to ten two percent risk free quote unquote rights from
Speaker 1: the government. So part that's on one side. If I
Speaker 1: take a one hundred million and I buy property, what
Speaker 1: is the rent? Can do you know any based lucky
Speaker 1: that's paying more than ten dollars rants? What about a company?
Speaker 1: Is rent is more than ten million based like in
Speaker 1: lucky not dollar then irant place lucky range. Yeah, So
Speaker 1: if there's no other based twenty millionaire rents in lucky.
Speaker 2: You know that right, twenty million paranom so and that's
Speaker 2: the right town.
Speaker 1: So if you look at twenty million has to give
Speaker 1: you twenty to make twenty percent to match the federal
Speaker 1: re born, you have to do twenty million rends. So
Speaker 1: you can see that they return. The return on property
Speaker 1: is very very low. Where property excels is that the
Speaker 1: property rises in patient inflation, so the asset value of
Speaker 1: property will bid inflation. What they to or not? Does
Speaker 1: that make sense?
Speaker 25: Yeah?
Speaker 2: It does, Thank you very That's what That's what I'm saying.
Speaker 1: I appreciate it.
Speaker 2: Thank you very much.
Speaker 6: Are very welcome.
Speaker 1: Sorry, all right, g w about you soon. Let's get
Speaker 1: a show show hopping right in what it might show
Speaker 1: didn't miss economy.
Speaker 28: So I really liked the last question you answered, and
Speaker 28: just to say again, I joined it so you might.
Speaker 1: Have handled my case. I just put it out there too.
Speaker 28: I've been thinking of this passing campaign and last month I.
Speaker 1: Got the least for an apartments.
Speaker 28: In my area on the mainland for just saying it
Speaker 28: mini flat, and I got it for five million, and
Speaker 28: the plan was to it for seventeen years and the plan.
Speaker 23: Was for me to.
Speaker 1: You know, just have something that brings in rents yearly.
Speaker 6: So my corcuditions were.
Speaker 2: In the area.
Speaker 28: On the average, rents for the last on the average
Speaker 28: is about like for Amerricane.
Speaker 1: So I don't know.
Speaker 28: I just want to like try it out and then
Speaker 28: see how see how it works out it. So my plan,
Speaker 28: like I said, was just to get it.
Speaker 1: I'm not wait for the seventeen years.
Speaker 6: Now.
Speaker 2: Basically, what I'm thinking of this is, I don't know, you.
Speaker 1: Know, it was developed by developers, so I'm not.
Speaker 28: Like pretty sure if it's going to.
Speaker 6: Last for seventeen years.
Speaker 1: So I'm thinking.
Speaker 28: Get friends for three to four years or five years,
Speaker 28: and then at that point sell out and then maybe
Speaker 28: invest the money.
Speaker 2: In some something else.
Speaker 1: So just said, you want to buy a property, so
Speaker 1: at least did already I bought the ready for seventeen years. Yes,
Speaker 1: you live for both.
Speaker 28: I released this for seventeen years because it leads.
Speaker 1: All right, yes, So and then, like I said.
Speaker 28: Runs in the area is about like eight hundred thousand
Speaker 28: on the average.
Speaker 1: Okay, so what's the year?
Speaker 2: So how much do you did you lose it for?
Speaker 1: Okay, so let me rephrase, I didn't buy If someone
Speaker 1: used this to me I know what what what I paid?
Speaker 1: What was this a year? For the whole seventeen years?
Speaker 28: Okay, So it's like I said, it's just a minute,
Speaker 28: but it's not like not like it's a big apartments.
Speaker 1: So everyone just wanted to real more so so to
Speaker 1: say let's start over again. So how much you been
Speaker 1: the guy? How much have been the guy? So I
Speaker 1: paid the games I've been final for for for all
Speaker 1: the years, for the years, So many years, for all
Speaker 1: the years, so's to five million, divide by how how
Speaker 1: many years? Seventeen years? So so every year you are
Speaker 1: paying two hundred and acted four. Okay, So what's what's
Speaker 1: your writer year?
Speaker 7: So on the average on the average, now just looking
Speaker 7: at it.
Speaker 1: Okay, so you are making in terms of you let's
Speaker 1: just use.
Speaker 2: Let's just hundreds okay, so that would be fine, red year.
Speaker 2: That's about years every year, yes, okay, most most question.
Speaker 1: So my question now is uh, because of the.
Speaker 34: Most most times don't Given the past few houses, they
Speaker 34: don't really use like for to see materials and all
Speaker 34: of that. So I'm taking the possibility as time goes
Speaker 34: by it would be used.
Speaker 28: And on the house that's ten years, you begin to
Speaker 28: see like cracks and traces that you know it is material.
Speaker 28: So I am thinking instead of me wasting for that time,
Speaker 28: I just get.
Speaker 1: Ready for saying for the city. And then so I
Speaker 1: was how.
Speaker 34: I'm not not since I still.
Speaker 6: Have like at that time, I have like sile years.
Speaker 2: What I mean, if I got to prop was beIN
Speaker 2: me to six percent, I would sell it?
Speaker 1: Would I sell it? It's based inflation. If it cracks
Speaker 1: and put the money for five years, I've made my
Speaker 1: money back the guy, right, So if you pay the guy.
Speaker 2: Was a guy drunk.
Speaker 1: He gave me this deal water. I mean you you
Speaker 1: so there there are lots of those like this. Why
Speaker 1: would he give you? I would give out the protein
Speaker 1: for five you know, when he knows he can do
Speaker 1: the same thing you're doing. Now, I'm not thinking for it.
Speaker 28: But what I notice is most times they have multiple
Speaker 28: of these projects going on and then they get stuck
Speaker 28: and then exactly.
Speaker 1: I mean, like you said, goop call. So that means
Speaker 1: every year, if you have this for how many do
Speaker 1: you make your break?
Speaker 2: What's yours? Your breaking?
Speaker 1: Look at your breaking, that's going to be your main thing.
Speaker 1: Look at your Yeah, that's what your eye is called.
Speaker 1: Your are your return return or your breaks?
Speaker 2: Where are you going to make.
Speaker 1: Your principal back? Make your principal back? First of all,
Speaker 1: first they's okay, how much return to you? Because this deal,
Speaker 1: if it's one hundred percent, when you do that the
Speaker 1: first time, talk about okay, let's see that can set
Speaker 1: up and all that if you can, if you can't
Speaker 1: give it for the whole seventeen years a cash cow
Speaker 1: because once you look at the principal, it just gives
Speaker 1: you pure cash profit and the results are so high
Speaker 1: that it bets inflation, like you said, but probably going
Speaker 1: to be to maintain to protein for the next seventy years.
Speaker 2: Who is that when you go to your account that
Speaker 2: you have to dupreciate this building.
Speaker 1: Very very carefully, so you have a reserve to face
Speaker 1: the building of So I would not take all the
Speaker 1: profits with as perfect I would side to renovate this building,
Speaker 1: say in five years time.
Speaker 2: So now we we reduce this to a Tuesday six
Speaker 2: percent return.
Speaker 1: I looked in some money for it for repairs and innovation,
Speaker 1: so at that time you can plow it back into
Speaker 1: the assets, bring it back up to speed every increase
Speaker 1: events if it be possible. So you keep going maximizage
Speaker 1: this us a deal.
Speaker 7: Thank you so much.
Speaker 1: Yea, honestly you put your hand up Odyssey, that's honestly INTOBC.
Speaker 3: What's up?
Speaker 1: I see your handles are going to speak. Okay, guys
Speaker 1: round off toogle.
Speaker 27: Yah.
Speaker 7: Thank you before you do. I have before your patrol.
Speaker 31: Why my name is should buy with this if farmer?
Speaker 7: And I'm wanted to ask what you think.
Speaker 15: About neutral phones and if it's advisable. Let's see someone
Speaker 15: gets a loan and justus risky intro of farming.
Speaker 6: And the loan return if he can split the loan.
Speaker 15: Into to invest in nutral phones and used to rest
Speaker 15: for the business, just to have.
Speaker 1: That as a back up.
Speaker 15: So I just wanted to get to know the everything,
Speaker 15: to know the conditions and like windows, utra phones start paying.
Speaker 2: That's all.
Speaker 1: Let me ask the question to immutual phone is just
Speaker 1: in for like an Susie phone. You put your money
Speaker 1: together in a sou and take the money and invest
Speaker 1: and you guys shared the returns. That's really your funds.
Speaker 1: You put money together into a fund, hence the word
Speaker 1: mutual fund. Many of you put money together into one fund.
Speaker 1: The fund invests when the fund gets returns. The fund
Speaker 1: shows returns back to you. So mutual fund simply means
Speaker 1: that's what it means to your question, what if you
Speaker 1: should borrow for the fun and all that? As a
Speaker 1: general rule, I don't like people borrowing. Oh I tell
Speaker 1: you what you're gonna do with the borrowing first? What
Speaker 1: would they borrowing do on the firm? Tell me what
Speaker 1: you want to money to.
Speaker 2: Do on the fund?
Speaker 15: Okay, I have an idea for the meets up that
Speaker 15: I wouldn't want to divoge all of the futures that
Speaker 15: it's with your tracking the degrees and getting meat and
Speaker 15: all that, but it just basically needs put on a
Speaker 15: kind of amazing future.
Speaker 7: So I've already got like in front and just get
Speaker 7: some funds to do some basic things like.
Speaker 2: All right, so it's not it's not a guarantee.
Speaker 1: Then if the meat out can work, the meets up
Speaker 1: might not work, but it's not guarants it's going to work.
Speaker 1: So because of that, I wouldn't advise you borrowing to
Speaker 1: do that, because once you borrow, it's going to be
Speaker 1: a term loan with me that you must pay the
Speaker 1: bank back when it work it doesn't work, rather than
Speaker 1: when you want to take a risk, you use equity
Speaker 1: or what we call patient capital to take a risk.
Speaker 1: So your family, friends, savings, low interests, put loans on
Speaker 1: your compety. That's what you want to use to take
Speaker 1: a risk because if you fail, you have time or
Speaker 1: lower cost to repay if you take a bank loan
Speaker 1: to take a risk investment. That's what bank loans are for.
Speaker 1: Bank loans are for working capital. Means that, for instance,
Speaker 1: you have an order to supply meat to somebody, but
Speaker 1: you have no cash for the meats, or that they
Speaker 1: have an helper, you can take a bank loan supply
Speaker 1: the meat. The customer page people at the bank very
Speaker 1: very short, very very targeted.
Speaker 12: You can't issue use a bank loan to.
Speaker 1: Invest because you have a fixed cost but an uncertain return.
Speaker 1: So I would not to borrow for that.
Speaker 15: Is that I gets you and I'm not trying to
Speaker 15: be like that was why I wanted to like invested
Speaker 15: in dragons.
Speaker 2: Like do things.
Speaker 1: What was the return? The bank is not fulish, right,
Speaker 1: so what's the return on the loan? That's the returning
Speaker 1: mutual phone? Can you guarantee the returning mutual fund?
Speaker 15: The loan was about twenty percent interest. Mutrophones says they
Speaker 15: have twenty between fifteen.
Speaker 2: The way this is depending on.
Speaker 1: The back but it's not it's not it's not guaranteed phones.
Speaker 7: I don't really know, that's what as I don't.
Speaker 1: Yeah, so we feel that imagine, look at your imagine.
Speaker 1: You say you want to borrow at twenty and pay
Speaker 1: back and at twenty and pay back at twenty is
Speaker 1: very very tight and I'm gonna pay fees and all
Speaker 1: that kind of stuff. So again it's if.
Speaker 2: You are can range at ten.
Speaker 1: Two and you are in in one hundred, there's a
Speaker 1: big margine of safety there, but you have no imagine
Speaker 1: of safety. Your bank is borrowing your money at how
Speaker 1: much at twenty and you're going to make fift twenty.
Speaker 2: There's no margine of safety there.
Speaker 1: If you saying there's no margin there, so I would
Speaker 1: I would advise you borrow for that. There are other
Speaker 1: things you can borrow for, Like I said, you borrow
Speaker 1: for working capital. You you you are shot the returns
Speaker 1: coming in. You just need funds egnefly to process and order.
Speaker 1: It's very very short term. It doesn't go in and out.
Speaker 1: But to borrow for a bank to run the farm
Speaker 1: it's you're in credit a fixed costs with unsettingment, So
Speaker 1: I would I wouldn't do that.
Speaker 7: Okay, so thank you so much.
Speaker 1: Thanks just my opinion. Yes, all right, let's get Marriader
Speaker 1: Nigeria marrieder? What's your man?
Speaker 2: Mariader? Might that going once?
Speaker 1: Marrieder? Going twice? Let's get Maria you speaking hello, very
Speaker 1: very bad. I gotta take your da. Might I text
Speaker 1: me a question? All right? That's a glitters world.
Speaker 2: Glitters world. You've got the floor.
Speaker 1: About mentus? Mentus?
Speaker 2: How you doing mantus in America?
Speaker 1: She work your how's it? Go ahead?
Speaker 2: Good?
Speaker 1: Good?
Speaker 2: Okay, thank you very much for the space side.
Speaker 16: I'm one of the first strong.
Speaker 2: Guess functions and I appreciate what you do every weekend.
Speaker 1: Thank you. Yeah. So in one of your last engagement
Speaker 1: to yourself and.
Speaker 6: Then your friend, is it that that they.
Speaker 7: There?
Speaker 3: So you you know somebody as specification respect to financial
Speaker 3: advice and your advising.
Speaker 6: Person to go with money Africa or somesing.
Speaker 1: So I took that advantage and booked this section with them.
Speaker 17: And then the recommenders so who have more or gusts
Speaker 17: like financial engagements, and then the you know the guilfome advice.
Speaker 2: So this was a few months close to the general
Speaker 2: US selection.
Speaker 31: So I invested in them, you know some of the
Speaker 31: lists gave me and then.
Speaker 3: It's something else will need to invest in Tesla and
Speaker 3: I was able to buy a few shapes and that
Speaker 3: has almost.
Speaker 1: Forty patients.
Speaker 3: And that's a last tip last week.
Speaker 2: So so my question is time is what do you use?
Speaker 3: What do you see in the future of testable respect
Speaker 3: to all the developments there.
Speaker 2: Driver see what they're doing.
Speaker 13: Do you think.
Speaker 23: You know it is still on their value?
Speaker 2: Stay good by doing you know.
Speaker 1: Which?
Speaker 6: Thank you?
Speaker 1: Yeah, that's so again, I'm just in my opinion. I'm
Speaker 1: not giving you a facial advice. Don't nothing I say
Speaker 1: here I should be used as fancial advice. I'm not
Speaker 1: a facial adviser.
Speaker 6: Yeah.
Speaker 1: So Tesla is Tesla is look at.
Speaker 2: The good thing for let me give the bootside for Tesla.
Speaker 1: They have skill. Tesla is building electricals and when you
Speaker 1: were into manufacturing, the president that wins is whoever has skilled,
Speaker 1: skilled beings who can produce more at the cheaper price.
Speaker 1: There's test like you. There's Testla in Germany, there's Testla
Speaker 1: in China. They want to be appoint test line in India.
Speaker 1: So what you see that the cost perk car for
Speaker 1: Testla's coming down. What it means even if Volkswagen or
Speaker 1: Toyota or the rest can actually build it electric car,
Speaker 1: they can't build it at the cost of Tesla. So
Speaker 1: as a positive for Tesla, he might be in the
Speaker 1: default electric car, especially if he keeps on dropping his
Speaker 1: prices to match with the Chinese. Chinese are number one
Speaker 1: card plass in the world because they can manufactured cars
Speaker 1: are twenty thousand dollars per car, So that's the advantage
Speaker 1: for TESTA number one.
Speaker 2: The other big thing for him is that he's very,
Speaker 2: very close to.
Speaker 1: The administration in America today, So if does any hope
Speaker 1: that maybe in regulations would have affected him. He's been
Speaker 1: trying for a long time to get approval to driver
Speaker 1: lest cars, driver lest taxes in America hasn't been given.
Speaker 1: With this admit decision, it has a better chance because
Speaker 1: he's intact with the President elect, with means that it's
Speaker 1: easier for him to get these things are proved and
Speaker 1: tested and then start to run off the skill run
Speaker 1: at skill, So that's not costing for him.
Speaker 2: So if you look at those two things.
Speaker 1: It looks like he might be a goodbye that's why
Speaker 1: you see the stock going up. The stocks went up
Speaker 1: after elections. When mister Trump won, he also went off.
Speaker 1: But it's a good company. The cars are they're making
Speaker 1: more cars at the cheaper price, so all things being equal,
Speaker 1: they might become the dominant force in ebs in America.
Speaker 1: The bad side of Testla is that America has don't
Speaker 1: really like electric cars. They still prefer in accompostion cars
Speaker 1: to date, so it might be selling, but is he
Speaker 1: selling an expanding market. That's a question you want to
Speaker 1: ask yourself. So that's where number two Testla is. It's
Speaker 1: a very very expensive stock. Look at the price to
Speaker 1: an instratio and they don't pay dividends. So if you're
Speaker 1: test that today, you are buying to hope that the
Speaker 1: price will keep on going up to justify your.
Speaker 2: You're gonna get any des from the test like next future.
Speaker 1: They reinvested their.
Speaker 2: Income, So that's the plus.
Speaker 1: And that's the other side, And I hope it's from
Speaker 1: there you can make your call if any parts. So
Speaker 1: you're a shoveler hanging there, let's see all right, all right,
Speaker 1: I guess we're to think last questions, I've got letters,
Speaker 1: I've got you the time, I've got amy, and I
Speaker 1: will call today. Right, So business, what's go for it?
Speaker 1: Last week questions? Letters?
Speaker 2: We'll go for it all right?
Speaker 7: Yes, yes, I'm the owner.
Speaker 1: Okay, so is.
Speaker 7: My three years ago?
Speaker 14: So when I started that, no my inportation, like I
Speaker 14: like the idea of thank you from China. You really package,
Speaker 14: you can't put our name on it.
Speaker 2: So a few like when I posted on a few
Speaker 2: more so that I choose sam.
Speaker 1: Goos for myself.
Speaker 2: So honestly for me, I ran into those.
Speaker 7: So that's like has to say so people stays because
Speaker 7: I tally run.
Speaker 14: Yeah the other day, so I have to say it
Speaker 14: back so people. So a few months later I decided
Speaker 14: who to say, who's to start off? It gave somewhay
Speaker 14: frohow like I thought that the road shipper buying a
Speaker 14: less pictures from friends and families like people that hat
Speaker 14: ideal to that sees for satire and posting their pictures.
Speaker 30: So I was able to what's.
Speaker 1: What's the question? What's the question as a question?
Speaker 2: All right, so I don't know my business. Now I'm
Speaker 2: gonna be from home.
Speaker 17: So like I hae minies of Aquatin in that film
Speaker 17: that sell my stuff.
Speaker 1: So I don't know if there is any.
Speaker 34: Possibility of me getting an investor, because I think now,
Speaker 34: I think that's like a one.
Speaker 28: Million, one million now the moments earlier.
Speaker 7: Now, So I don't know. Yeah, I've been able to.
Speaker 14: So I don't know if there's any possibilitating an investor
Speaker 14: for my kind of business.
Speaker 1: If they will not do my business.
Speaker 14: I've got through the necessary if I wassle exactly.
Speaker 1: So yeah, So it's really goes to be at your
Speaker 1: state of business, your your startup, family, friends, guys that
Speaker 1: doing could do those seas capitals. That's the way I
Speaker 1: go to the best because people on the space might
Speaker 1: not know you. I might know you, but they might
Speaker 1: not know you.
Speaker 2: So I would say this stay back.
Speaker 1: To you have put it on Twitter and ask for
Speaker 1: investment on Twitter. You know some can pick it up
Speaker 1: and read. You know, put your income and expense, your
Speaker 1: relation and saying I want this some amount of money
Speaker 1: if I information, send you a DM and we talk.
Speaker 1: Put it on your space full on your page, put
Speaker 1: your returns and other advertise yourself, but in your startup.
Speaker 1: So people are going to be you're more risky in
Speaker 1: normal company. So but advertised toself as to what happens.
Speaker 1: All right, let's get I do that. My lister John
Speaker 1: and mister Dent.
Speaker 6: Are you invested?
Speaker 2: And my question is I want you start to.
Speaker 1: Explain to me. I'm our ish students like me and
Speaker 1: have financial security.
Speaker 29: And what I'm doing presently is that I am athleting
Speaker 29: for companies a sales cass.
Speaker 1: What ye are the level? That's my advice is to
Speaker 1: focus on your education. Came to the good degree. Let
Speaker 1: us skill from my university. Let us kill focused on
Speaker 1: that and come out. That's what advice you do. Focused
Speaker 1: on bigger skills that you achieve. And I'm not trying
Speaker 1: to blow you up, but you have You have the
Speaker 1: internet right, you can go on to the internet free
Speaker 1: resources learn about investing. I have a book.
Speaker 2: I use every weekend. If you follow me, you would
Speaker 2: learn a lot.
Speaker 1: Go to the internet and learn a lot, get trigger education,
Speaker 1: start something you know. But I can't.
Speaker 2: I'm not gonna be able to show to tell you
Speaker 2: individually what to do.
Speaker 1: It's too.
Speaker 4: So.
Speaker 1: If I have a question, I can answer, but I
Speaker 1: can't give you an individual steps. I'm not gonna buy something.
Speaker 1: I say, I'm just trying to do the stuff. But
Speaker 1: you have a question special to me, send to me
Speaker 1: and to answer right. But yeah, but let's say Amy, welcome, Ami,
Speaker 1: thank God let me I mean Ami van God going
Speaker 1: once and me thank God. I can hear yourself. Just
Speaker 1: go ahead, thank you so much, say.
Speaker 6: Very Michaelstone is ver simple.
Speaker 4: I'm just.
Speaker 6: My first NY best in index forms in X forms,
Speaker 6: I don't know, Yeah, I intend to. I was giving
Speaker 6: three options. One is brought in best forms, the one
Speaker 6: is the thing the regular in best forms, and.
Speaker 1: The last one is not. So I was just thinking
Speaker 1: which one is It's should I go for because.
Speaker 2: I know that the economy boom like going to happen
Speaker 2: under them.
Speaker 1: Really can't answer that question because you're asking what to
Speaker 1: catch with you by s by Medes or BMW and Audi. Well,
Speaker 1: you can answer that question. We can only say what
Speaker 1: do you want to do with the car? If you
Speaker 1: want to go long distance, to buy a bus. If
Speaker 1: you want to go short distance, you know, buy a
Speaker 1: coup So the answer is that what the.
Speaker 2: Banks I want to do very well?
Speaker 1: And it just do very well. You have elons, So
Speaker 1: tech is gonna do very well. Okay, what if you
Speaker 1: buy the index, you don't have to worry which wants
Speaker 1: your band because you're buying everything. But NASDA NASDAK is
Speaker 1: it heavy, SMP is SMP five from the stocks right
Speaker 1: now is textive stocks.
Speaker 2: So index pience.
Speaker 1: You are buying everything, so don't working about the individual
Speaker 1: or another the COMPREHENSI are doing well. You're buying everything.
Speaker 1: But that's like it's tech heavy. That's just the answer
Speaker 1: for you. So if you don't know what to buy,
Speaker 1: buy index. If you think America or A, well so
Speaker 1: that would give.
Speaker 2: You access or exploture.
Speaker 1: To that market.
Speaker 2: Yeah, that works all right, folks.
Speaker 1: Thank you so much guys for being here. Will be
Speaker 1: here three hours building and not talking about to do
Speaker 1: your budgets, how to convert your active to your passive
Speaker 1: income or big guys who take it into practice and
Speaker 1: get it done will come back next week and will
Speaker 1: tr to do it again. Thank you so much, guys,