WEBVTT 1 00:00:02.439 --> 00:00:04.320 Hey, focus's give me a handle if you can hear me, 2 00:00:20.239 --> 00:00:22.519 you guys, give me a hand. Yeah, there we go. Okay, guys, 3 00:00:22.800 --> 00:00:26.879 sorry about that. We had a technical issue or fixed. 4 00:00:26.519 --> 00:00:27.760 And we're good to go. 5 00:00:28.519 --> 00:00:31.199 Uh. We are live. 6 00:00:31.120 --> 00:00:31.879 Now on Twitter. 7 00:00:31.960 --> 00:00:34.200 I's going to get the YouTube guys up and running 8 00:00:34.240 --> 00:00:37.439 because we're gonna do visual as well. So thank you 9 00:00:37.479 --> 00:00:41.920 guys for all being here. I appreciate it. Again. Welcome 10 00:00:42.000 --> 00:00:47.560 to another money space with me Caluaja this money space 11 00:00:47.600 --> 00:00:50.520 and of course on this space, and we're talking about money, 12 00:00:51.399 --> 00:00:55.520 capital markets, and of course the economy. 13 00:00:55.799 --> 00:00:59.759 But this week, especially this week, of course say. 14 00:00:59.640 --> 00:01:02.840 This, and I think next Sunday we're gonna be talking 15 00:01:02.880 --> 00:01:06.319 about should we say your money? Right? We were talking 16 00:01:06.359 --> 00:01:11.519 about Germany, how you can plan out your budget, what 17 00:01:11.680 --> 00:01:15.519 to look out for four years, ended on of course 18 00:01:15.599 --> 00:01:18.799 twenty five. So again I put a YouTube link it's 19 00:01:18.879 --> 00:01:21.439 on their Life because I want to talk about some 20 00:01:21.640 --> 00:01:25.319 visuals that will literally make sense for you guys as 21 00:01:25.319 --> 00:01:25.879 we go along. 22 00:01:26.319 --> 00:01:29.359 So I have shared earlier on those tweet and. 23 00:01:29.359 --> 00:01:32.400 Again guys, I'm gonna talk too much. It's really your space. 24 00:01:32.560 --> 00:01:36.280 If you guys have questions about basically how to plan 25 00:01:36.400 --> 00:01:38.200 to what it is your chance to send it to 26 00:01:38.239 --> 00:01:41.439 me and we talk around it, right, but let me 27 00:01:41.480 --> 00:01:44.359 just share it. So if you're on YouTube, it's easier 28 00:01:44.400 --> 00:01:46.959 you can see the visuals. Otherwise, I also share the 29 00:01:47.120 --> 00:01:49.640 visuals here on Twitter, but it's going to take some time. Right, 30 00:01:50.359 --> 00:01:53.680 if you look on the space on each like tweet 31 00:01:53.760 --> 00:01:56.439 and I'm gonna do it again. I gave you what 32 00:01:56.680 --> 00:02:00.760 to do for twenty twenty four as you're going to five, right, 33 00:02:02.040 --> 00:02:05.000 how you can if you what has happened in the pasture, 34 00:02:05.480 --> 00:02:08.400 and how you can set yourself up for what's gonna 35 00:02:08.439 --> 00:02:11.159 happen in the new year. That's all we try to 36 00:02:11.159 --> 00:02:15.599 do this space, right, So there are lots of past 37 00:02:16.599 --> 00:02:21.159 looking at your income, your expenses, your net worth, and 38 00:02:21.199 --> 00:02:24.800 then building out a budget, building out egenssive funds, and 39 00:02:24.919 --> 00:02:27.639 sort of tying that all into a plan to a 40 00:02:27.759 --> 00:02:30.360 program that essentially what we want to talk about today, 41 00:02:30.759 --> 00:02:34.439 and just focus on Twitter. I can retreat that particular 42 00:02:34.960 --> 00:02:37.400 trend on what you want to do first. But if 43 00:02:37.439 --> 00:02:41.080 you've got your pen, you've got your paper, essentially you 44 00:02:41.280 --> 00:02:44.080 just tell you what how you want to basically go 45 00:02:44.159 --> 00:02:48.599 about this, right, So if you're writing down and I'm 46 00:02:48.639 --> 00:02:50.520 just I'm going to repeat this all over and over, 47 00:02:50.639 --> 00:02:52.719 but if you're writing, then I'll just start with this 48 00:02:52.960 --> 00:02:55.280 right to You've got to have a plan, right, I 49 00:02:55.319 --> 00:02:58.800 want to have a plan, like a simple plan. What 50 00:02:58.960 --> 00:03:01.719 do you think you want to achieve into the five? 51 00:03:03.000 --> 00:03:05.680 Very very simple. It could be that you don't like 52 00:03:05.759 --> 00:03:08.599 to increase your income. It could be like want to 53 00:03:08.639 --> 00:03:10.759 be desk free. It could be you want to go 54 00:03:10.919 --> 00:03:14.520 to get at home. But just have a plan that 55 00:03:14.560 --> 00:03:17.240 you can visualize. And that's just I want you to 56 00:03:17.280 --> 00:03:18.520 have a target that's going to be you're going to 57 00:03:18.639 --> 00:03:21.879 chase down into into the five. But then I want 58 00:03:21.879 --> 00:03:23.280 you to see how you're going to get to That 59 00:03:23.360 --> 00:03:24.879 plan is what I'm going to give to you now. 60 00:03:25.400 --> 00:03:27.120 So the very first thing I want you guys to 61 00:03:27.159 --> 00:03:30.800 do this you're doing good to be four, it's going 62 00:03:30.800 --> 00:03:32.680 to apply to into the five. The first thing you're 63 00:03:32.680 --> 00:03:34.599 going to do is to take a piece of paper 64 00:03:35.280 --> 00:03:39.479 and excelciate or no program and trying to capture all 65 00:03:39.599 --> 00:03:43.639 the income, all the income that you're going to make. 66 00:03:44.280 --> 00:03:47.319 So you want to capture all the income that you 67 00:03:47.400 --> 00:03:50.400 want to make, right, and that income is going divide 68 00:03:50.439 --> 00:03:55.039 the income into three specific three specific points three specific 69 00:03:55.840 --> 00:04:00.680 one is going to be active income is see TIV 70 00:04:01.000 --> 00:04:05.280 active income, so your active income, it's what I want 71 00:04:05.319 --> 00:04:08.439 you to write down active income. The second one is 72 00:04:08.439 --> 00:04:13.000 going to be your passive income passive income, So passive 73 00:04:13.039 --> 00:04:14.840 income is going to be income that you're gonna make 74 00:04:14.960 --> 00:04:18.279 when you're not at work. Let's say you've got shares, 75 00:04:18.360 --> 00:04:21.519 you got cash, that's your passive income. Then the last 76 00:04:21.519 --> 00:04:24.920 one is going to be your investment income, so that's active, 77 00:04:25.800 --> 00:04:30.480 that's passive, and then investment income. All three don't get 78 00:04:30.560 --> 00:04:33.560 to write that down. And if you look on YouTube right, 79 00:04:34.600 --> 00:04:38.319 I'm sharing that. We will also copy that. I'll also 80 00:04:38.360 --> 00:04:43.279 share on Twitter. So YouTube the infographic is there, you 81 00:04:43.319 --> 00:04:47.199 can see active, you can see passive. If you're on YouTube, 82 00:04:47.240 --> 00:04:49.360 you can see it. But I'm going to share also 83 00:04:49.480 --> 00:04:52.720 on Twitter on this particle costream, so you guys also follow. Right, 84 00:04:54.480 --> 00:04:57.240 So when we first and first, like I said, write 85 00:04:57.279 --> 00:05:01.480 out act your income and income divine in committed for 86 00:05:01.680 --> 00:05:05.759 your active income, your passive income, and of course your 87 00:05:05.800 --> 00:05:09.759 investment income. So we've got that right now, let's not 88 00:05:10.120 --> 00:05:12.959 go into expenditures. You're also going to write down your 89 00:05:12.959 --> 00:05:16.360 expensionses are just headers you're gonna have an header for expenditures, 90 00:05:16.360 --> 00:05:23.560 so it's going to be your discretionary expenses and your 91 00:05:23.720 --> 00:05:28.600 non discretionary expenses. So just two items for expenses, your 92 00:05:28.639 --> 00:05:33.639 discretionary and your non discretionary. Right, you got that down, 93 00:05:34.000 --> 00:05:38.600 So now you should have either five or four elements. 94 00:05:38.759 --> 00:05:41.319 One's going to be your active income, one's going to 95 00:05:41.360 --> 00:05:45.120 be your passive income. They're gonna have total income, they're 96 00:05:45.120 --> 00:05:49.199 gonna have discussion expenses and non discussion expensive. So now 97 00:05:49.199 --> 00:05:51.959 I'm gonna share on a Twitter space as well. So 98 00:05:52.040 --> 00:05:53.920 if you're on Twitter, just look at the latest to 99 00:05:53.959 --> 00:05:56.839 are just posted. You should see how I want you 100 00:05:56.879 --> 00:06:02.160 guys to do it. Just share now on Twitter. So 101 00:06:02.279 --> 00:06:04.639 if you look at an infographic on Twitter, you don't 102 00:06:04.639 --> 00:06:08.879 see number one active income, so you're gonna see passive income, 103 00:06:09.480 --> 00:06:12.199 and then of course that's gonna give you your total income. 104 00:06:13.240 --> 00:06:14.800 Do you guys see If you guys give me a 105 00:06:14.839 --> 00:06:18.160 tombs up, iitiate it on Twitter and it's also live showing. 106 00:06:18.639 --> 00:06:21.319 It's also live streaming on YouTube as well. So if 107 00:06:21.319 --> 00:06:23.199 you can see that diagram and give me your tombs 108 00:06:23.240 --> 00:06:25.360 up that you can continue. Just go to the last 109 00:06:25.360 --> 00:06:28.519 two they just shared. You're gonna see your active you're passive. 110 00:06:29.560 --> 00:06:32.279 Can you guys see that? Give me your tombs up 111 00:06:32.319 --> 00:06:39.120 if you can perfect. So we have one, two, three, 112 00:06:39.879 --> 00:06:46.519 four five items. When you while you your entire reason 113 00:06:46.600 --> 00:06:48.639 for working, for having a job, I won't even you 114 00:06:48.639 --> 00:06:51.360 have a job, either you own your own business or 115 00:06:51.399 --> 00:06:54.319 you work for someone. This is exactly what you're trying 116 00:06:54.360 --> 00:06:57.360 to achieve. Once you're trying to achieve Number one. You 117 00:06:57.399 --> 00:07:01.399 want to earn income. So you see number one is 118 00:07:04.199 --> 00:07:07.040 Number one is your active income. That is all the 119 00:07:07.120 --> 00:07:09.959 income you make because you are actively present. That's going 120 00:07:10.040 --> 00:07:12.560 to be your salary. And if you own your job, 121 00:07:12.600 --> 00:07:15.839 your own business earnings, that's number one active. So if 122 00:07:15.839 --> 00:07:18.480 you go to work, or your own partner in a job, 123 00:07:18.920 --> 00:07:20.959 or you are busiting, you are the CEO, you own 124 00:07:20.959 --> 00:07:24.319 your own company, that's active income. Number two is your 125 00:07:24.399 --> 00:07:27.839 passive income, that income you make when you are not there. 126 00:07:28.399 --> 00:07:30.439 So that income you're mad an income when you are 127 00:07:30.480 --> 00:07:32.920 not there at all. That's going to be like your rent, 128 00:07:33.480 --> 00:07:35.959 your dividends. You own a home in London, your home 129 00:07:36.000 --> 00:07:38.519 holding a bar, you're getting rents from those places. Your 130 00:07:38.720 --> 00:07:42.800 dividend income, that's your dividend income. Total of both, it's 131 00:07:42.800 --> 00:07:47.079 going to be your total income total income. Right, You're 132 00:07:47.160 --> 00:07:51.560 objective in life is to number one, convert that active 133 00:07:51.600 --> 00:07:53.639 income into passive income. 134 00:07:53.959 --> 00:07:55.079 That's why you're working. 135 00:07:55.480 --> 00:07:58.120 When you have a job, or when you work for yourself, 136 00:07:58.240 --> 00:08:01.439 your own money, You've got to convert that income into 137 00:08:01.560 --> 00:08:05.480 income that comes when you are not working anymore. So 138 00:08:05.519 --> 00:08:07.959 that means that if I end a salary, I take 139 00:08:08.000 --> 00:08:10.279 my salary. Of course I have to eat, of course 140 00:08:10.279 --> 00:08:12.199 I have to buy clothes and all that, but I 141 00:08:12.279 --> 00:08:15.839 have to invest that salary so that I can then 142 00:08:15.959 --> 00:08:20.000 buy into a house or into a business that over time, 143 00:08:20.600 --> 00:08:24.399 the revenue I get from my passive income to perceive 144 00:08:24.519 --> 00:08:27.800 the revenues I get from my active income. When your 145 00:08:27.920 --> 00:08:32.720 passive income supersed your active income, that's when you retire. 146 00:08:33.279 --> 00:08:35.720 So retirement is not a number. It's not sixty five, 147 00:08:35.759 --> 00:08:40.039 it's not fifty. Retirement is when your passive income is 148 00:08:40.200 --> 00:08:43.039 more than your active income. If it happens at twenty 149 00:08:43.120 --> 00:08:46.320 years old or an one hundred years old, that's when 150 00:08:46.480 --> 00:08:50.879 you retire. So your total income is not material. What 151 00:08:51.039 --> 00:08:55.000 is material for you is to convert your active income 152 00:08:55.120 --> 00:09:00.679 your salary into passive income rental digdens. That's what you 153 00:09:00.720 --> 00:09:03.720 are working for nothing else. So what's the problem with 154 00:09:03.799 --> 00:09:07.960 most of us have our promise number four at number 155 00:09:07.960 --> 00:09:11.440 three our expenses. And you see how we broke down expenses. 156 00:09:11.480 --> 00:09:16.240 We brought the EXPERSSI into discretionary expenses and non discretionary expenses. 157 00:09:16.279 --> 00:09:20.240 What's the difference. Non discussionary experenses are the expenses that 158 00:09:20.279 --> 00:09:23.000 we must make. We can't avoid them. So we have 159 00:09:23.080 --> 00:09:25.360 to pay food, we have to pay rent, if you're 160 00:09:25.399 --> 00:09:27.519 false sake, we have to pay the doctor. You can't 161 00:09:27.600 --> 00:09:32.200 avoid these expenses for your discretionary expenses are what you 162 00:09:32.519 --> 00:09:36.240 decide you want to spend money on. So the idea 163 00:09:36.480 --> 00:09:43.039 is this, your passive income has got to pay for 164 00:09:43.159 --> 00:09:47.240 your non discretionary expenses. That's your shot to medium term 165 00:09:47.279 --> 00:09:51.519 goal before you retire. So when you end active income 166 00:09:51.639 --> 00:09:54.840 number one, you want to convince active income to passive 167 00:09:54.840 --> 00:09:58.960 income number two. In doing that, you've got to ensure 168 00:09:59.440 --> 00:10:03.080 that your passive income number two is able to pay 169 00:10:03.120 --> 00:10:09.399 your number three with the non discursionary expenses. Now, when 170 00:10:09.480 --> 00:10:11.480 you start off life, you're going to find out your 171 00:10:11.559 --> 00:10:15.759 total income is worth's paying off your non discursionary expense 172 00:10:15.840 --> 00:10:17.919 because you don't have more passive income if you just 173 00:10:17.960 --> 00:10:20.919 start work today. You end a lot, you end salaries, 174 00:10:21.039 --> 00:10:23.279 but you have no assets, so you work for a 175 00:10:23.360 --> 00:10:25.600 bank for us as legals, you can't pay the million 176 00:10:25.639 --> 00:10:27.720 narre of a month. That's your active income, but you 177 00:10:27.759 --> 00:10:29.679 have no assets. You have no car, you have no 178 00:10:29.759 --> 00:10:32.559 house your own, so no passive income. So your total 179 00:10:32.600 --> 00:10:35.840 income is paying your number four and your number three. 180 00:10:36.320 --> 00:10:39.440 Your job short to midile term is to try to 181 00:10:39.559 --> 00:10:42.960 ensure that your passive income can pay your number three, 182 00:10:43.639 --> 00:10:46.000 so that what you are HEARDing from your investments can 183 00:10:46.039 --> 00:10:49.600 at least cover what you must spend. That's your half retirement. 184 00:10:50.039 --> 00:10:52.240 If you can hit that, that means that you are 185 00:10:52.320 --> 00:10:55.679 halfway there, because if you stop working, you can at 186 00:10:55.799 --> 00:10:58.080 least pay your expenses. This is what we call the 187 00:10:58.360 --> 00:11:03.000 emergency fund. When you create an emergency fund, it is 188 00:11:03.039 --> 00:11:07.600 three to six months of number three. So your emergency 189 00:11:07.639 --> 00:11:13.399 fund is three to six months of your non discretionary expenses. 190 00:11:13.720 --> 00:11:16.720 So when you start to work active income, you want 191 00:11:16.720 --> 00:11:19.840 to open up a SAVIS account and saving that account 192 00:11:20.120 --> 00:11:23.879 and amount that can cover at least three times your 193 00:11:24.039 --> 00:11:29.120 non discretionary expenses. So you see what we're induced brought 194 00:11:29.120 --> 00:11:34.080 in emergency funds. We're brought in active income, passive income, 195 00:11:34.519 --> 00:11:38.240 discussion expenses, and we're brought in retirement. This is the 196 00:11:38.279 --> 00:11:43.159 only infographic you need for your job, whether you work 197 00:11:43.200 --> 00:11:46.159 for yourself where I work for a company. This is 198 00:11:46.279 --> 00:11:50.279 all you have to know. Print this out, you put 199 00:11:50.320 --> 00:11:53.039 it on your mirror, and every day you ask yourself, 200 00:11:53.039 --> 00:11:57.320 have I converted active income to passive income? Have I 201 00:11:57.679 --> 00:12:01.519 is my number my passive Incomember two? Can it pay 202 00:12:01.919 --> 00:12:04.759 my number three? That's your emergency fund. So it's not 203 00:12:04.879 --> 00:12:08.600 a number, your emerency not a number. It is three 204 00:12:08.639 --> 00:12:12.360 to six months of whatever you say your number three is. 205 00:12:13.600 --> 00:12:16.000 So if you say a number three includes traveling to 206 00:12:16.039 --> 00:12:19.919 London for summer, then the number two, which is your 207 00:12:19.919 --> 00:12:22.519 passive income, has got to pay for number three. You've 208 00:12:22.559 --> 00:12:25.639 got to save enough. But if you are prudent that 209 00:12:25.720 --> 00:12:28.480 you say no, no, no no, my number three, which is 210 00:12:28.519 --> 00:12:32.120 my non discription expenses, has to only cover things that 211 00:12:32.120 --> 00:12:36.600 are really fun to me, food, rent, medical. Then it 212 00:12:36.639 --> 00:12:39.799 becomes smaller. So the amount is then save as amensity 213 00:12:39.879 --> 00:12:45.679 fund becomes much much much smaller. So it's your call. 214 00:12:45.840 --> 00:12:48.679 There is no best practice for this. What will two 215 00:12:48.840 --> 00:12:52.600 that you decide When you decide, you create your budget 216 00:12:52.639 --> 00:12:56.840 because it's your budget. When you do this info graphic, 217 00:12:57.240 --> 00:13:01.039 you create a budget to then save on number three 218 00:13:01.480 --> 00:13:04.639 and number four. You just don't create a different media. 219 00:13:04.720 --> 00:13:07.159 You create a budget because you want to keep your 220 00:13:07.240 --> 00:13:12.480 number three and number four in sync. Folks, I don't 221 00:13:12.480 --> 00:13:14.519 know be the only one talking. So let's let's talk 222 00:13:14.519 --> 00:13:19.159 about if you have questions on this chat, let's hear them. 223 00:13:19.720 --> 00:13:22.679 I'm gonna go back to YouTube in case you guys 224 00:13:22.679 --> 00:13:27.559 have put something there, So we talk about just this 225 00:13:27.720 --> 00:13:31.600 particular child. Let me see then if you have a 226 00:13:31.720 --> 00:13:35.159 question on this, we can then go further now into 227 00:13:35.320 --> 00:13:38.279 the other parts of this bay, and we're just going 228 00:13:38.360 --> 00:13:41.960 to be your budgets, your reviews, and how you can 229 00:13:42.080 --> 00:13:47.360 ensure that you are capturing this properly. Do it, do something, 230 00:13:47.399 --> 00:13:50.000 you can follow it. It's gonna go with an Excel 231 00:13:50.120 --> 00:13:53.519 sheet or not pocket. It's not gonna be technical or 232 00:13:53.919 --> 00:13:57.639 don't make it to do a complex. Get your income. 233 00:13:57.720 --> 00:14:00.440 I'm going to repeat again, Get your income right, I'm 234 00:14:00.440 --> 00:14:03.960 on your income divided into active passive. I didn't put 235 00:14:04.000 --> 00:14:06.480 investment income here, put odd investment income, so you have 236 00:14:06.559 --> 00:14:11.399 three income lex active passive. Investment. Investment is also passive. 237 00:14:11.919 --> 00:14:15.600 If you can't separate them. If not living, impassive, then 238 00:14:15.679 --> 00:14:18.159 create your experience is number four and number three your 239 00:14:18.200 --> 00:14:21.720 discretionary and non discretionary. So what you are trying to 240 00:14:21.720 --> 00:14:24.879 accomplish again, like I said, is to move your active 241 00:14:25.000 --> 00:14:28.360 number one to your past number two. That's the first 242 00:14:28.399 --> 00:14:30.600 thing on that accomplished. The second thing want that complience 243 00:14:30.639 --> 00:14:34.320 to ensure that you're number two. You're passive, can pay 244 00:14:34.360 --> 00:14:38.159 your number three your non discussionary expenses, and that's your 245 00:14:38.440 --> 00:14:41.360 emergency fund. That's your first fund that you build when 246 00:14:41.399 --> 00:14:43.799 you start to work. You don't start to invest. You 247 00:14:43.840 --> 00:14:48.720 want to do your emergency fund first before you start 248 00:14:49.039 --> 00:14:54.159 to invest. Make any sense, guys? Okay, perfect, So who 249 00:14:54.200 --> 00:14:57.879 wants to speak requests becomes to be interactive. I'm reading 250 00:14:57.919 --> 00:14:59.840 your cheap, but I do want it to be interactive. 251 00:15:00.240 --> 00:15:02.840 If you have any questions, I want to hear them. 252 00:15:03.240 --> 00:15:06.399 Let me see. So just to clarify, yes, that's what 253 00:15:06.440 --> 00:15:08.639 I said. So investment is going to be time you dig. 254 00:15:08.919 --> 00:15:12.440 Investment is going to be part of your passing. If 255 00:15:12.440 --> 00:15:15.320 you want, you can separate it. So I can separate 256 00:15:15.519 --> 00:15:18.679 investments from say rentals. There's the reason for that. What 257 00:15:19.039 --> 00:15:25.080 that's going to be too, thank, I think yes, correct. 258 00:15:25.159 --> 00:15:28.720 So your non discretionary are going to be another question 259 00:15:28.759 --> 00:15:32.759 from you. Actually, your non discretionary expenses, it's. 260 00:15:32.639 --> 00:15:33.600 What you say it is. 261 00:15:34.360 --> 00:15:38.279 Food clearly is non discretionary. But if you don't say that, 262 00:15:38.679 --> 00:15:43.240 for instance, that you're seremoney home to your family is 263 00:15:43.279 --> 00:15:45.440 not discretionary, but we have to put it there as well. 264 00:15:45.960 --> 00:15:50.159 The point is this, whatever you say is your non discretionary, 265 00:15:50.559 --> 00:15:53.240 then it has to be covered. But at least three 266 00:15:53.360 --> 00:15:57.840 times of you know, three to six times savings in 267 00:15:58.159 --> 00:16:03.240 your but just fund. Your emergency fund is what covers 268 00:16:03.399 --> 00:16:05.840 number three. And that's what you first of all build 269 00:16:05.879 --> 00:16:09.000 in your passive before you then talk about the retirement. 270 00:16:09.559 --> 00:16:12.639 Your long term goal. The long term goal if it's 271 00:16:12.639 --> 00:16:15.399 not working by twenty five, the long term goal is 272 00:16:15.399 --> 00:16:18.320 that when you assays sixty five or whatever age it is, 273 00:16:18.960 --> 00:16:23.840 that your number two replaces your number one. Rich people 274 00:16:23.919 --> 00:16:26.279 the way you know someone as is rich, they have 275 00:16:26.399 --> 00:16:33.200 more passive income than an active income. Elon Musk is 276 00:16:33.279 --> 00:16:35.799 rich today. If he stops working today, he's not gonna 277 00:16:35.799 --> 00:16:40.600 go broke, right, because he's got equity in companies that 278 00:16:40.639 --> 00:16:41.559 would keep on paying him. 279 00:16:41.559 --> 00:16:41.919 And didn't. 280 00:16:41.919 --> 00:16:44.240 It just stops working today. He's not gonna go broke. 281 00:16:44.480 --> 00:16:47.840 That's the point, Oliver, how you doing? Welcoming takes again 282 00:16:47.879 --> 00:16:50.320 for joining, and I appreciate that. What's your mind? 283 00:16:52.240 --> 00:16:56.559 Well, I just wanted to link in likely you. 284 00:16:58.320 --> 00:17:00.480 The strategy. 285 00:17:01.960 --> 00:17:08.079 I look at saying your expenses and intention of plying 286 00:17:08.319 --> 00:17:09.000 for next seas. 287 00:17:09.000 --> 00:17:12.480 So I just wanted to support exactly. I mean, it's 288 00:17:12.519 --> 00:17:15.640 because I think people have a lot of words fly around. 289 00:17:15.720 --> 00:17:19.359 Sometimes people say emergency funds, people say actively income. I 290 00:17:19.400 --> 00:17:21.519 want to bring a lot together. That's what this infographic 291 00:17:21.599 --> 00:17:25.079 assure you. Where is your budget? Your budget comes in 292 00:17:25.119 --> 00:17:28.240 your three and your four. Emergency phone comes in your 293 00:17:28.319 --> 00:17:31.440 number two and number one. So it's all in this chart. 294 00:17:31.559 --> 00:17:33.680 If it's the only chart you want to take away, 295 00:17:34.160 --> 00:17:37.480 you basically have learned everything in it. Right, So I 296 00:17:38.079 --> 00:17:40.240 see also a question I've answered one of the questions 297 00:17:40.240 --> 00:17:42.000 that I see, as you're gonna just this chart, I 298 00:17:42.200 --> 00:17:45.599 answer as most of them. You decide, was it not discretionary? 299 00:17:45.720 --> 00:17:48.759 You decide right, if you decide that's what you have 300 00:17:48.799 --> 00:17:51.599 to budget for. But I would say this, keep it. 301 00:17:52.119 --> 00:17:56.599 Keep your nondiscretionary only for things that you think you need, 302 00:17:56.680 --> 00:17:57.680 all that are important. 303 00:17:57.960 --> 00:18:00.480 If send the money to your If pay for gym. 304 00:18:01.039 --> 00:18:05.240 Is hellwise correct, then it's not discretionary. Great, the gym 305 00:18:05.359 --> 00:18:08.400 is healthy, so it's not an expense. But you do 306 00:18:08.400 --> 00:18:09.799 you want to pay for what? How much do you 307 00:18:09.799 --> 00:18:11.640 do for gym? That the best gym you can go for? 308 00:18:11.960 --> 00:18:14.880 Can you save monjipa jim the other things you want 309 00:18:14.880 --> 00:18:18.480 to ask yourself. But as a whole, pay for gym, Yes, 310 00:18:18.599 --> 00:18:22.640 can be non discretionary. So let's answer your question digit. 311 00:18:22.799 --> 00:18:26.240 So I want to move on to on the part 312 00:18:26.400 --> 00:18:28.920 of now how we want to do the financial health 313 00:18:29.000 --> 00:18:31.160 check for twenty five. But I want to make sure 314 00:18:31.200 --> 00:18:34.240 we understand this chart before I then change it out 315 00:18:34.640 --> 00:18:36.640 and then plug in the other one. So if I 316 00:18:36.720 --> 00:18:39.839 stand all the questions, let's now, I'm gonna change the 317 00:18:39.880 --> 00:18:43.200 YouTube a swell do the picture there, and I'm gonna 318 00:18:43.240 --> 00:18:46.480 copy this out so that I can shade also on Twitter. 319 00:18:46.920 --> 00:18:47.799 Then we can follow. 320 00:18:48.200 --> 00:18:51.079 This is how we're gonna go step by step in 321 00:18:51.160 --> 00:18:53.079 twent twenty five. What I want you guys to do 322 00:18:53.160 --> 00:18:56.640 step by step into E twenty five. Right, what you're 323 00:18:56.680 --> 00:19:00.359 gonna do. You're gonna review your twenty twenty four and 324 00:19:00.400 --> 00:19:02.160 then you're gonna do your twing twenty five. That's what 325 00:19:02.160 --> 00:19:04.599 I'm doing right now. So let's go and I'm gonna 326 00:19:04.599 --> 00:19:08.880 copy this. I share this as well on my page. 327 00:19:09.079 --> 00:19:11.440 But we're gonna copy this and then we're gonna share 328 00:19:11.559 --> 00:19:14.759 as well, so you guys can follow again. So let 329 00:19:14.799 --> 00:19:18.920 me change the infragraphic we have on YouTube. It's gonna 330 00:19:18.920 --> 00:19:22.480 be this one now, So we change this guy out 331 00:19:22.720 --> 00:19:26.039 and then we're gonna plug in our financial goals. Want 332 00:19:26.240 --> 00:19:29.079 you guys gonna set up financial goals right So, if 333 00:19:29.119 --> 00:19:31.839 you're on YouTube, you're single, we're talking about setting up 334 00:19:31.880 --> 00:19:33.920 your financial goals. And like I said, the financial goal 335 00:19:33.960 --> 00:19:35.640 can be what you want it to be. You can 336 00:19:35.680 --> 00:19:39.160 have multiple financial goals. You can have one single financial goal, 337 00:19:39.359 --> 00:19:41.599 but it's got to be measurable. It's got to be 338 00:19:41.640 --> 00:19:43.359 something that you can know that you have achieved it. 339 00:19:43.400 --> 00:19:45.559 If you say I want to be rich, that's not 340 00:19:45.559 --> 00:19:48.359 a financial goal because we don't know I want to 341 00:19:48.440 --> 00:19:51.880 have X amount of money. It's a bit more direct. 342 00:19:52.079 --> 00:19:55.920 Put by a date. So have a financial goal and 343 00:19:56.039 --> 00:19:58.200 put a date to it. That's how we know you're 344 00:19:58.279 --> 00:20:03.680 best leader. Thank you for the information. Will invest with them? Plitate? Yes? 345 00:20:04.359 --> 00:20:07.359 Is it safe to invest in is it also safe 346 00:20:07.400 --> 00:20:11.319 to invest in high risk investment in banks? Banks typically right, 347 00:20:11.400 --> 00:20:15.240 don't offer you high risk investments. Bank gives you the 348 00:20:15.440 --> 00:20:18.880 chance to deposit money if you are scared of putting 349 00:20:19.000 --> 00:20:21.839 in the bank, to put it only according to antic 350 00:20:22.240 --> 00:20:25.359 or every su protection right if you're that scared. If 351 00:20:25.359 --> 00:20:27.240 you put your money in the bank in Nigeria, you 352 00:20:27.279 --> 00:20:29.640 are covered up to five million. If you put your 353 00:20:29.640 --> 00:20:32.000 money in the bank in America, you're covered up to 354 00:20:32.119 --> 00:20:36.799 two and fifty thousand. But bank deposits are always in 355 00:20:36.920 --> 00:20:39.039 short after that limit, so if you just put them 356 00:20:39.119 --> 00:20:41.000 in the bank, it's good. But we want to ask 357 00:20:41.039 --> 00:20:44.160 yourself when you put the money into the bank, is 358 00:20:44.200 --> 00:20:49.440 it giving you passive income, not savings account? Not correct account? 359 00:20:49.759 --> 00:20:52.279 But you want to invest with the bank, Like I said, 360 00:20:52.960 --> 00:20:57.359 deposits or something is treadable so you can end that 361 00:20:57.559 --> 00:21:00.640 passage income back to you. That's the point of past income. 362 00:21:01.279 --> 00:21:02.279 A bio me, how you doing. 363 00:21:02.319 --> 00:21:04.920 Let me take a question for me, Yes, Barby, go ahead, 364 00:21:04.960 --> 00:21:07.319 what's up? Okay? 365 00:21:07.359 --> 00:21:11.119 So not a question really, And I've been doing some 366 00:21:11.200 --> 00:21:14.640 readings actually, and I think one of the most important 367 00:21:14.640 --> 00:21:21.319 things in actually defining discretionary and nondiscretionary views a hole. 368 00:21:21.480 --> 00:21:26.400 So defining wants from needs because a lot of people 369 00:21:26.400 --> 00:21:30.279 who actually more duty needs close ones, as in, you 370 00:21:30.319 --> 00:21:33.640 can't trade. What is your wants which is no important, 371 00:21:33.839 --> 00:21:36.359 you can live with us, and what is your need? 372 00:21:37.000 --> 00:21:40.559 I agree? That's just yeah, come back again and that 373 00:21:40.559 --> 00:21:43.720 that once I need. It's a very very simplified way 374 00:21:43.720 --> 00:21:48.240 of saying discretionary and not discretionary. So if you want 375 00:21:48.319 --> 00:21:51.960 something that's going to be your discussionary. You know I 376 00:21:52.000 --> 00:21:56.359 want a Rolls Royce, Well that's discustionary, but I need 377 00:21:56.400 --> 00:22:01.119 to eat food that's non disprastionary. So Abby's excellent way 378 00:22:01.680 --> 00:22:04.799 of putting it in non financial tells your number three 379 00:22:04.960 --> 00:22:08.880 and number four very important because you build your budget 380 00:22:09.240 --> 00:22:14.640 around puject defined as non discretionary and discretionary. Remember we've 381 00:22:14.680 --> 00:22:19.640 talked about two and three is your emergency fund. That's 382 00:22:19.680 --> 00:22:23.599 the emgency fund. Whatever you're putting number three has to 383 00:22:23.640 --> 00:22:26.599 be covered by your emergency phone. What I mean cover 384 00:22:26.759 --> 00:22:29.559 it means that you want to create a fund that 385 00:22:29.680 --> 00:22:32.960 you save two to three times whatever you put in 386 00:22:33.039 --> 00:22:37.640 number three. You do that before you invest. You don't 387 00:22:37.680 --> 00:22:42.839 invest before doing your emergency fund. Your emergency phone comes first, 388 00:22:43.119 --> 00:22:47.119 before you invest Why, Because you can lose your job, 389 00:22:47.480 --> 00:22:49.799 forge get a new job and severe a month or two. 390 00:22:50.200 --> 00:22:53.920 If you go ahead and you invest without doing emergency fund, 391 00:22:54.240 --> 00:22:56.359 when you lose your job, you're forced to sell your 392 00:22:56.400 --> 00:22:59.480 investments to cover for lots of income. 393 00:23:00.160 --> 00:23:02.960 First of all, building fun, even if it's one month 394 00:23:03.559 --> 00:23:04.079 before you. 395 00:23:04.079 --> 00:23:09.400 Start to invest. Don't jump and invest without buildings. All right, guys, 396 00:23:09.480 --> 00:23:12.759 So I'm just gonna share, let me go toget Bank, 397 00:23:12.759 --> 00:23:14.359 call it high buy what's on your mind? 398 00:23:16.400 --> 00:23:19.920 Hildo, Thanks so much for all in this space. I 399 00:23:19.920 --> 00:23:25.039 think it's such an amazing opportunity to tap into your 400 00:23:25.319 --> 00:23:27.920 your wealth of knowledge and really really appreciate that and 401 00:23:28.240 --> 00:23:29.119 appreciating time. 402 00:23:28.960 --> 00:23:35.839 You're putting it into this. My question is, yes, we're planning. 403 00:23:35.519 --> 00:23:40.240 Towards twenty five with the like hyper inflationary environment we. 404 00:23:40.240 --> 00:23:43.200 Have now, I mean earlier on this year there was a. 405 00:23:43.160 --> 00:23:46.960 Period where over a weekend my power as at the 406 00:23:47.039 --> 00:23:50.440 coast of my power went up by almost two hundred percent. 407 00:23:50.559 --> 00:23:55.119 So you know, like, what would you advise, what would 408 00:23:55.119 --> 00:23:58.759 you advise on the way to to plan for budgeting 409 00:23:58.880 --> 00:24:01.200 for next year? Like high should we think about it 410 00:24:01.640 --> 00:24:06.079 in terms of our budgeting for the non discretionary expenditure 411 00:24:06.119 --> 00:24:06.480 and all that. 412 00:24:07.799 --> 00:24:10.559 So let's let's let's use that to turn into if 413 00:24:10.559 --> 00:24:12.960 you just guys, are just shared on my Twitter page 414 00:24:12.960 --> 00:24:15.119 now the how to do the budget? 415 00:24:15.160 --> 00:24:16.279 You know I've gone into. 416 00:24:17.720 --> 00:24:20.559 If you look at the Twitter page now bangla, you 417 00:24:20.599 --> 00:24:23.039 see we have your shared chapter to this set up 418 00:24:23.039 --> 00:24:26.000 my book how to set about traditional goals. I went 419 00:24:26.000 --> 00:24:28.319 out reve your last year's budget. So what you want 420 00:24:28.359 --> 00:24:31.559 to do? Great question, not just power. When you do 421 00:24:31.640 --> 00:24:34.759 a budget for the year in review, you are saying 422 00:24:35.000 --> 00:24:37.680 you're doing put to be five. You are saying I 423 00:24:37.759 --> 00:24:41.599 want to spend ten era on fuel, but you do 424 00:24:42.079 --> 00:24:46.480 you on the future. The future could have those for 425 00:24:46.880 --> 00:24:48.799 the cost of field is going to go up. So 426 00:24:48.880 --> 00:24:51.920 look at that chat again. What you want to do 427 00:24:52.160 --> 00:24:55.720 is to budget, like I said, three to six months 428 00:24:56.599 --> 00:25:01.480 non excretion expenses in a separate account, three to six 429 00:25:01.559 --> 00:25:06.519 months non discretionary expenses. Fuel is going to be a 430 00:25:06.559 --> 00:25:10.920 non discretionary expense. So if you have an emergency fund 431 00:25:11.119 --> 00:25:15.319 and suddenly power went up, you had something that you 432 00:25:15.519 --> 00:25:18.960 had to firstophor tap into before you go back to 433 00:25:19.079 --> 00:25:22.680 your budget, and you basically redo your entire budget. The 434 00:25:22.880 --> 00:25:28.480 cost of fuel increases, material it's material to your entire budget. 435 00:25:28.799 --> 00:25:32.880 That means they've got to do a new budget. The 436 00:25:32.960 --> 00:25:36.559 fatalment does subnational budget. You've got to do the same thing. 437 00:25:36.640 --> 00:25:39.480 You've got to go back to your budget, cut away 438 00:25:39.519 --> 00:25:44.039 some expenses and take more money and locate towards what 439 00:25:44.119 --> 00:25:49.000 you call a non discretionary expense. But remember, if you 440 00:25:49.200 --> 00:25:53.240 earn more from active it's also part of within our plan. 441 00:25:53.640 --> 00:25:56.359 So the point I make is this, there are two 442 00:25:56.400 --> 00:26:00.839 ways to meet on foreseeing expenses. Number one is to 443 00:26:00.920 --> 00:26:04.599 plan ahead for them so you have more money in 444 00:26:04.640 --> 00:26:08.720 your non discussion expenses. But to call number three. Number 445 00:26:08.799 --> 00:26:11.839 two is you can go into debt, which we don't 446 00:26:12.000 --> 00:26:15.279 really like, but you have to do it. And then 447 00:26:15.400 --> 00:26:18.400 number then again you can say, okay, you want to 448 00:26:18.440 --> 00:26:22.720 then to try to increase your active or your passive 449 00:26:23.359 --> 00:26:27.359 you understand. So three ways, three ways, or number one 450 00:26:27.960 --> 00:26:31.279 have more money in your in your emagency phone, number 451 00:26:31.359 --> 00:26:36.279 two borrow, borrow well, or number three you want to 452 00:26:36.359 --> 00:26:39.160 increase your Number one about which is your active or 453 00:26:39.240 --> 00:26:41.480 your passive income? Does that help her? 454 00:26:43.799 --> 00:26:44.000 Yes? 455 00:26:44.039 --> 00:26:48.160 It does, I really appreciate it. Yeah. Please Yeah. 456 00:26:48.240 --> 00:26:50.960 The whole idea is to want to make everything automated. 457 00:26:51.359 --> 00:26:54.160 We don't want the guess work to go with it. 458 00:26:54.319 --> 00:26:55.759 We don't want to guess what to say. Oh, I'm 459 00:26:55.759 --> 00:26:59.039 gonna do this. I'm gonna automate everything. So if you 460 00:26:59.079 --> 00:27:02.400 are paying at thousand and are for diesel, it goes 461 00:27:02.440 --> 00:27:07.279 to five thousand. You can't end four thousand in a day. 462 00:27:07.799 --> 00:27:09.599 Nor can you just walk into a bank. If you 463 00:27:09.599 --> 00:27:12.279 don't have credit card, you can't just get four thousand. 464 00:27:12.640 --> 00:27:15.559 So your emergency form becomes your first line of defense 465 00:27:15.599 --> 00:27:17.920 when you go there first of all and get the 466 00:27:18.000 --> 00:27:18.759 funds to. 467 00:27:18.759 --> 00:27:20.200 Pay for the increase in diesel. 468 00:27:20.480 --> 00:27:22.559 Why she didn't say how can I you do my 469 00:27:22.680 --> 00:27:26.240 budget or how can I anymore? That's gonna be how 470 00:27:26.720 --> 00:27:30.480 you're going to address that. So I've shared now create 471 00:27:30.519 --> 00:27:34.880 bank and hanging there if you want to put's say yeah, 472 00:27:34.920 --> 00:27:39.039 So I've shared now the financial health check on Twitter 473 00:27:39.559 --> 00:27:43.279 and it talks about review. So let's do the review 474 00:27:43.480 --> 00:27:47.240 for this year. Well, I'm gonna try. We're gonna review four. 475 00:27:47.440 --> 00:27:49.920 The first thing you want to do is look at 476 00:27:50.000 --> 00:27:52.559 your spending, and guys, it's on Twitter, it's also on YouTube. 477 00:27:52.559 --> 00:27:55.079 You don't have the first page that's pay for the 478 00:27:55.160 --> 00:27:57.920 three on my book, let's talk about your money. It says, 479 00:27:57.920 --> 00:28:00.200 the first thing you do look at your spend did 480 00:28:00.880 --> 00:28:04.200 did you track expenses during the year? Do you know 481 00:28:04.319 --> 00:28:08.119 where all your any income went to? What were your 482 00:28:08.160 --> 00:28:12.599 three expense items? Did you identify them to reduce them? 483 00:28:13.359 --> 00:28:17.359 So you've got to start now for twenty five to 484 00:28:17.519 --> 00:28:22.559 answer these questions. Did you track your expenses? If you didn't, well, 485 00:28:23.000 --> 00:28:28.480 twenty five you've got to track every single cobo that 486 00:28:28.599 --> 00:28:32.839 goes from your active on passive to be spent. You 487 00:28:32.920 --> 00:28:37.200 get to the book or an Excel sheet. Every single 488 00:28:37.480 --> 00:28:41.519 cobo that you spent, you write it down. You do 489 00:28:41.559 --> 00:28:45.359 it for ninety days. Write down your expenses. Then this 490 00:28:45.480 --> 00:28:49.920 mos down. Guys, write down your expenses. Then you cateicle 491 00:28:50.039 --> 00:28:53.039 rise those expenses. So if you write down went to 492 00:28:53.079 --> 00:28:56.839 mister Biggs, I bought ice cream, I bought suer I 493 00:28:56.880 --> 00:28:59.720 went to the club, all that is food. But what 494 00:29:00.079 --> 00:29:03.160 category there's eating out? There's eating it. If you buy 495 00:29:03.240 --> 00:29:06.039 food in the grocery or you eat food outside, that's 496 00:29:06.160 --> 00:29:12.359 the categories you eat in eat out. Categorize then so 497 00:29:12.440 --> 00:29:18.599 number one, write down your expenses. Number two, categorize your expenses. 498 00:29:19.440 --> 00:29:22.640 That's the learning point from this first point there, look 499 00:29:22.680 --> 00:29:26.599 at your spending. Did you track expenses? So what you 500 00:29:26.599 --> 00:29:28.480 want to do the learing from number one point there 501 00:29:28.519 --> 00:29:34.359 is number one track all your expenses. Number two categoraries 502 00:29:34.519 --> 00:29:39.079 your expenses. Why do you do this because when you categorize, 503 00:29:39.440 --> 00:29:43.759 that's when you can then apply in budget for each category. 504 00:29:43.799 --> 00:29:46.799 That's how you do a budget. So that's an example. 505 00:29:47.440 --> 00:29:51.519 I have five thousand ner that I spent. I write 506 00:29:51.559 --> 00:29:54.720 down exactly how I spend that five on era. I 507 00:29:54.759 --> 00:29:59.160 categorize food. I bought groceries for a thousand, but I 508 00:29:59.200 --> 00:30:03.400 et out for two thousand. I've categorized. Then when I 509 00:30:03.559 --> 00:30:07.160 do a budget in twenty five, I will then say 510 00:30:07.400 --> 00:30:11.319 do I want to spend two thousand eating out? If 511 00:30:11.359 --> 00:30:14.559 I say no, I reduce two thousands to one thousand. 512 00:30:15.039 --> 00:30:17.480 Then where do I apply that extra one thousand? I 513 00:30:17.519 --> 00:30:19.079 can say, Okay, I'm gonna take it to play for 514 00:30:19.160 --> 00:30:22.839 my diesel because this has gone up. So you've got 515 00:30:22.839 --> 00:30:29.000 to be scientific about it. Write down the expenses. Every expense, 516 00:30:29.319 --> 00:30:32.000 you give drive, write it down, you give one to 517 00:30:32.000 --> 00:30:34.960 your girlfriend, write it down. You let's more money, write 518 00:30:35.000 --> 00:30:39.440 it down every expense. Then categorize lots of apps to 519 00:30:39.480 --> 00:30:41.480 do it for you for free lots of apps for 520 00:30:41.519 --> 00:30:45.160 you for free. You categorize. Then when you do the budget. 521 00:30:45.440 --> 00:30:50.319 What a budget is is you are assigning figures to 522 00:30:50.440 --> 00:30:54.480 a category to be spent in the future. That's a budget. 523 00:30:55.279 --> 00:31:02.160 It's not complicated. So diesel expenses here, I spend ten thousand, 524 00:31:02.720 --> 00:31:04.839 I categorize that as utilities. 525 00:31:06.160 --> 00:31:08.720 Next year, Am I going to spend more or less? 526 00:31:09.440 --> 00:31:12.640 If I'm going to spend more maybe fifteen thousand, Where 527 00:31:12.680 --> 00:31:15.559 will the extra five thousand come from? You go back 528 00:31:15.599 --> 00:31:19.960 to your categories. Wow, I'm spending money on Suya, so 529 00:31:20.039 --> 00:31:22.240 sher money has got to go. We're going to go 530 00:31:22.279 --> 00:31:28.000 from Suya to diesel or you go to your income. Oh, 531 00:31:28.119 --> 00:31:30.880 I only work for forty hours this year, so I'm 532 00:31:30.880 --> 00:31:34.839 going to work for fifty hours so I can end 533 00:31:34.880 --> 00:31:39.519 more to eat Suya and buy diesel. It's all got 534 00:31:39.599 --> 00:31:42.640 to tie in. If you don't have a budget, you 535 00:31:42.720 --> 00:31:45.119 will simply do exactly what you've done. You take your 536 00:31:45.160 --> 00:31:48.039 money from Suya to buy diesel. Because you don't have 537 00:31:48.079 --> 00:31:50.920 any budget, you still spend on Suya. Then you go 538 00:31:51.079 --> 00:31:55.480 into debt. Debt is the last, last, last thing I 539 00:31:55.480 --> 00:31:58.000 want to do, right, it's necessary. We want to keep 540 00:31:58.000 --> 00:32:01.960 it as a last resort. So that's your plan. Categorized 541 00:32:02.000 --> 00:32:09.119 expenses for record expenses, categoris expenses, assign numbers to your categories. 542 00:32:09.200 --> 00:32:12.519 That's your budget. So let's look at number two. What 543 00:32:12.720 --> 00:32:16.680 about your budget process. Did you set up a budget. 544 00:32:17.039 --> 00:32:18.720 I've just told you how to do a budget now, 545 00:32:18.839 --> 00:32:21.240 so you will not do that for twenty five. Did 546 00:32:21.279 --> 00:32:24.920 you follow your budget? That's the hard part. Did you 547 00:32:25.000 --> 00:32:29.839 maintain a subplus budgets in the month? What months? Why 548 00:32:29.839 --> 00:32:32.839 did you have a subplus? Why did your income go down? 549 00:32:33.279 --> 00:32:36.079 You've got to ask those questions and answer them because 550 00:32:36.119 --> 00:32:38.640 you want to know why you made a subplus. Sometimes 551 00:32:38.680 --> 00:32:41.160 you could say, okay, I want to spend more money 552 00:32:41.599 --> 00:32:45.359 on on on I want to spend ten thousand on 553 00:32:45.480 --> 00:32:49.400 utilities PMS. But to spend less did you spend less 554 00:32:49.400 --> 00:32:52.480 because you used the bus or because you could not 555 00:32:52.799 --> 00:32:55.680 afford to spend more. You've got to ask those questions, 556 00:32:56.119 --> 00:32:58.440 answer them, then you do your budget. 557 00:32:58.519 --> 00:33:00.359 It's got to eat guys. You've got to full of 558 00:33:00.440 --> 00:33:01.160 do theology. 559 00:33:01.519 --> 00:33:04.839 You can't guess it, you can't hope it, write it out, 560 00:33:05.400 --> 00:33:10.119 categorize it as sign a number, and then implement so number. 561 00:33:10.279 --> 00:33:14.000 So it's on a budget did your income go up? 562 00:33:14.480 --> 00:33:16.799 Did your expenses come down? It's asking why you. 563 00:33:16.759 --> 00:33:18.079 Are able to meet your budget? 564 00:33:18.400 --> 00:33:21.799 Did you need your budget because you end more, thus 565 00:33:21.880 --> 00:33:24.640 you are able to spend more, or did you cut 566 00:33:24.720 --> 00:33:27.839 down your spending thus you're able to keep your budget going? 567 00:33:28.160 --> 00:33:32.759 Asking that question to you, how did debt picture into 568 00:33:32.799 --> 00:33:35.559 your plan? Did this current YEA? Did you borrow to 569 00:33:35.640 --> 00:33:39.160 meet your budget? Or did you cut down expenses? Ask 570 00:33:39.240 --> 00:33:42.440 that question and answer it. Did your debt go up? 571 00:33:43.000 --> 00:33:46.680 Did your debt come down? Favorit? Important questions because see 572 00:33:46.680 --> 00:33:48.920 what you What we're doing here is that we're asking 573 00:33:48.960 --> 00:33:51.799 this question because the answers tell you what to do 574 00:33:51.880 --> 00:33:56.359 in twenty five. If you are surviving on debt, what 575 00:33:56.559 --> 00:33:58.519 is happening with you? Words that first chance to assure 576 00:33:58.599 --> 00:34:01.960 you is that into the it's using your active and 577 00:34:02.119 --> 00:34:07.000 passive income to pay your discretion and discretion. You are borrowing. 578 00:34:07.119 --> 00:34:13.159 You are bringing loans into your active income, and the 579 00:34:13.239 --> 00:34:16.039 loan is not income, right, So when you're bringing loan, 580 00:34:16.159 --> 00:34:19.719 you get cash, but you are also increasing your non 581 00:34:19.920 --> 00:34:24.840 discretionary expenses. If you borrow a thousand, it comes in 582 00:34:24.920 --> 00:34:31.079 as passive income, but it goes out as non discretionary expenses. 583 00:34:32.360 --> 00:34:35.559 But you're active is just coming in. It's only you. 584 00:34:36.079 --> 00:34:39.079 Any salary is coming. But when you borrow, it is 585 00:34:39.119 --> 00:34:43.159 two legged, right, so you can borrow short term to 586 00:34:43.239 --> 00:34:44.320 meet and knee and all. 587 00:34:44.280 --> 00:34:44.960 The body member. 588 00:34:45.280 --> 00:34:50.679 Borrowing is front loaded consumption. When you borrow today, you 589 00:34:50.719 --> 00:34:54.159 are front loading your consumption. So you we go back. 590 00:34:54.199 --> 00:34:56.559 Did your does go up and down? Imedn't? High content 591 00:34:56.679 --> 00:34:59.760 and balance sheet? So those two questions number one number 592 00:34:59.760 --> 00:35:03.559 two talk about your income and bringing death to show 593 00:35:03.599 --> 00:35:05.800 you how to do a budget. So let me go 594 00:35:05.880 --> 00:35:17.599 back to the sheriff. What's sheriff, Hey, sheriff, that's say man, queen. 595 00:35:17.679 --> 00:35:20.519 Let's that's the queen, queen, k how are you doing today? 596 00:35:22.679 --> 00:35:22.880 Hi? 597 00:35:23.039 --> 00:35:24.159 Hi, hi, call you. 598 00:35:24.519 --> 00:35:28.039 Thank you so much for I'm doing great. Thank you 599 00:35:28.079 --> 00:35:30.119 so much for what's nice, and thank you for granting 600 00:35:30.159 --> 00:35:30.920 my mate. 601 00:35:31.480 --> 00:35:35.320 Yeah, I really love this space because I have so 602 00:35:35.480 --> 00:35:39.480 many things I want to ask you for clarity, and 603 00:35:39.679 --> 00:35:42.039 I mean I would love to share it. And then 604 00:35:42.159 --> 00:35:45.599 probably when i'm all, when I'm freak and I ask 605 00:35:45.639 --> 00:35:45.880 you to. 606 00:35:45.880 --> 00:35:47.559 Ask you, But I don't know if this time I 607 00:35:47.559 --> 00:35:48.480 should go ahead or. 608 00:35:48.760 --> 00:35:50.519 Wait, that's a question you want? 609 00:35:53.079 --> 00:35:54.519 Okay, Okay, thank you so much. 610 00:35:55.440 --> 00:36:00.079 Okay, now, no about someone who. 611 00:36:00.079 --> 00:36:04.679 Haven't handled a big amount of money. There's assume one 612 00:36:04.760 --> 00:36:08.360 hundred thousand like India currency a hundred thousand, and are 613 00:36:09.880 --> 00:36:11.239 someone I've posted that that. 614 00:36:11.400 --> 00:36:15.360 I will handle this and it just landed due to 615 00:36:15.920 --> 00:36:19.320 probably what he or she's doing, and the money just land. 616 00:36:19.960 --> 00:36:22.519 And the person you know at that point, there's these. 617 00:36:22.480 --> 00:36:25.679 Spirits that you know, something you've not talked before, something 618 00:36:25.719 --> 00:36:26.519 you're not handled. 619 00:36:26.960 --> 00:36:32.000 There's how you feel, like me personally, I feel things. 620 00:36:32.639 --> 00:36:36.119 I will feel like I want to go crazy. I 621 00:36:36.400 --> 00:36:39.000 feel like, you know, my head is big. 622 00:36:39.079 --> 00:36:39.480 I don't know. 623 00:36:39.519 --> 00:36:41.400 I feel like the money is bigger than me. I 624 00:36:41.400 --> 00:36:44.239 don't know. I'm just saying it because that's why I fulfilled. 625 00:36:44.800 --> 00:36:48.039 And because of that, I will not be able to 626 00:36:48.480 --> 00:36:51.320 give accountability on how to spend the. 627 00:36:51.280 --> 00:36:57.480 Money disting, and it's a problem. What will you advise 628 00:36:57.559 --> 00:36:58.760 such situation? 629 00:37:00.239 --> 00:37:05.039 I ever, that's a great question, Quinn. Great question because 630 00:37:05.079 --> 00:37:09.039 it happens to everybody on earth, everybody. The first time 631 00:37:09.119 --> 00:37:12.679 I made quote unquote big money, I made millions. I 632 00:37:12.679 --> 00:37:15.960 didn't expect it. Someone I wanted to buy something I 633 00:37:16.079 --> 00:37:19.400 knew someone that was selling. I just brought them together. 634 00:37:19.840 --> 00:37:22.840 I got a commission. I had no idea I was 635 00:37:22.880 --> 00:37:25.280 going to mix that much money in my life. Do 636 00:37:25.280 --> 00:37:27.480 you know how I spent it. I went to London, 637 00:37:27.599 --> 00:37:30.480 I went to safages. I bought couchie slippers, I bought 638 00:37:30.719 --> 00:37:31.599 designer clothes. 639 00:37:32.000 --> 00:37:33.679 I write, I know, I enjoyed. 640 00:37:34.239 --> 00:37:36.360 And this is why I do these things is because 641 00:37:36.440 --> 00:37:39.000 I'm talking my experience. Let nobody fo you. We are 642 00:37:39.159 --> 00:37:43.400 all emotional. Humans are emotional. We like to spend, we'd 643 00:37:43.440 --> 00:37:47.239 like to look good, want to show. But experience is 644 00:37:47.239 --> 00:37:51.840 the best teacher, not your experience. My experience never learned 645 00:37:51.880 --> 00:37:54.360 from your experience. Learn from the experience of those that 646 00:37:54.360 --> 00:37:57.320 I told you, Hey, we've done that, been there, it's 647 00:37:57.400 --> 00:37:59.960 not worth it. So the way you want to treat 648 00:38:00.320 --> 00:38:03.360 a windfall income is first of all, you just lock 649 00:38:03.440 --> 00:38:07.519 it away first and first we have to change your mind, 650 00:38:07.760 --> 00:38:10.960 not your money, your mind. The book, the book I 651 00:38:10.960 --> 00:38:14.199 wrote right, the second chapter is behavior of finance. I 652 00:38:14.400 --> 00:38:16.320 put that in there for a reason. So if you 653 00:38:16.400 --> 00:38:20.000 can't change your behavior, you can change your with your 654 00:38:20.000 --> 00:38:24.280 own money. Money is the spirit if you if you 655 00:38:24.440 --> 00:38:27.480 respect money, it stays. If you just respect it, it 656 00:38:27.480 --> 00:38:30.480 goes away. So when you get money, the very very 657 00:38:30.480 --> 00:38:32.519 first you will do if you is to keep that 658 00:38:32.599 --> 00:38:34.920 money where you can't touch it well, and then think 659 00:38:34.920 --> 00:38:36.519 about here, what should I do about it? So you 660 00:38:36.599 --> 00:38:39.639 figures one hundred thousand er, Well, if you're in America, 661 00:38:39.760 --> 00:38:42.519 you buy your setingle deposit for say three months, women 662 00:38:42.559 --> 00:38:44.280 say next three months, you can't touch it. If an 663 00:38:44.280 --> 00:38:46.400 ijual you put in a physics posit so you can, 664 00:38:46.679 --> 00:38:50.480 so you can take time to exhale to see, Okay, 665 00:38:50.880 --> 00:38:54.239 what should I do? The One of the best ways 666 00:38:54.280 --> 00:38:57.639 to spend money is to pay down your debt, because 667 00:38:57.639 --> 00:39:01.119 if you pay down your debt, you can I regretted, right, 668 00:39:01.840 --> 00:39:03.280 it's when you pay down your dad. 669 00:39:03.360 --> 00:39:06.440 That's one hundred percent return on capital. 670 00:39:06.920 --> 00:39:09.039 So even if you don't know you have to spend money, 671 00:39:09.039 --> 00:39:12.000 you don't trust yourself, ask yourself, am I got any body? Yes? 672 00:39:12.039 --> 00:39:15.239 Go pay them, But it's not the best way, right. 673 00:39:15.559 --> 00:39:18.559 I would prefer that if you have into the budget 674 00:39:19.239 --> 00:39:21.039 and you have done this and you get to a 675 00:39:21.119 --> 00:39:23.880 hundred thousand, where would you put it? You know, there's 676 00:39:23.960 --> 00:39:29.039 active income, there's passive income, there's expenses, there's emergency fund. 677 00:39:29.079 --> 00:39:31.599 Where would I put this money? I'll put it green 678 00:39:31.760 --> 00:39:35.719 in my passive income. So if I buy something, the 679 00:39:35.880 --> 00:39:39.199 capital has gone away. So all our good guy's going 680 00:39:39.199 --> 00:39:44.599 to be returns, dibidends, returns if I spend it dibidends. Okay, 681 00:39:44.880 --> 00:39:47.800 I've enjoyed, but I still have my capital. So if 682 00:39:47.840 --> 00:39:51.119 I take my capital put the bank in Nigeria, Natia 683 00:39:51.159 --> 00:39:54.039 would pay you nearly tenty percent. So if you put 684 00:39:54.079 --> 00:39:56.480 a one hundred thousand in the bank, Nigeria will give 685 00:39:56.519 --> 00:40:01.119 you nearly thirty thousand. Okay, you even if you spend 686 00:40:01.280 --> 00:40:04.800 that thousand, if only spent one year's return. So but 687 00:40:04.880 --> 00:40:08.360 you've not touched your principle. So if you use my style, 688 00:40:09.039 --> 00:40:11.280 put the money in your passive income. So if there 689 00:40:11.320 --> 00:40:13.960 is a persily income for you, if you don't trust yourself, 690 00:40:14.119 --> 00:40:16.960 go and pay on the debt or lock the money away. 691 00:40:17.400 --> 00:40:19.920 But whatever you do, you've got to have a plan. 692 00:40:20.000 --> 00:40:21.920 And you can only have a plan if you have 693 00:40:22.000 --> 00:40:25.639 a budget. You can't walk your way into it and 694 00:40:25.679 --> 00:40:28.320 say when I get the time, I will do it. No, no, no, 695 00:40:28.440 --> 00:40:31.480 If you're not prepared, the money will go. So Quini, 696 00:40:31.519 --> 00:40:34.039 the only way you can find that spiritized making you 697 00:40:34.119 --> 00:40:36.400 spend money is not to have the money at all. 698 00:40:36.760 --> 00:40:40.920 If you ad income, do automatic investment into investment hotels. 699 00:40:41.119 --> 00:40:42.719 If you if you are if I go to get 700 00:40:42.800 --> 00:40:45.840 big money, already spend money, right you tell your bank 701 00:40:45.840 --> 00:40:47.840 and money is coming. Take this money and buy this 702 00:40:47.880 --> 00:40:49.440 for me, so the MOE doesn't come to you. But 703 00:40:49.559 --> 00:40:52.760 give yourself a chance to spend. Take ten percent and 704 00:40:52.960 --> 00:40:57.599 blow it's no problem. Take ten percent go haywire or 705 00:40:57.719 --> 00:41:01.840 ninety percent invested. Where humans we're not robots. We want 706 00:41:01.880 --> 00:41:04.480 to enjoy it, not to enjoy it. But take out 707 00:41:04.519 --> 00:41:07.519 ten percent for a few money they're don't blow it 708 00:41:08.920 --> 00:41:11.559 in the vertility of passive income, so that it's there 709 00:41:11.679 --> 00:41:15.480 for you year in, year out. Does that help quick? 710 00:41:18.119 --> 00:41:18.880 Yeah? 711 00:41:19.199 --> 00:41:21.480 That is very very helpful. 712 00:41:22.239 --> 00:41:24.679 But on the other hand, I've we talked about this 713 00:41:24.840 --> 00:41:26.840 in disgree It's gonna. 714 00:41:26.599 --> 00:41:28.519 Be funny bad. But I'm being. 715 00:41:28.400 --> 00:41:31.800 Real right, I'm not trying to make it look like, yeah, 716 00:41:31.800 --> 00:41:33.199 I'm being viewed now. 717 00:41:33.840 --> 00:41:37.320 You know some people will say if you put the 718 00:41:37.360 --> 00:41:38.679 money there, you know. 719 00:41:38.840 --> 00:41:41.880 You're appertun needs and probably you die. 720 00:41:42.079 --> 00:41:46.960 Is some clean It's only some clean. I enjoy it. 721 00:41:49.800 --> 00:41:52.880 I mean it's a great Again, Quinn, you're asking a 722 00:41:53.000 --> 00:41:54.599 very very great question. 723 00:41:54.760 --> 00:41:55.559 Look at it this way. 724 00:41:56.000 --> 00:41:59.320 What if you don't die and you get to sixty 725 00:41:59.400 --> 00:42:02.440 years old and you have no house, you have no income, 726 00:42:02.519 --> 00:42:05.679 you have no money for medicals. What happened then? So 727 00:42:05.800 --> 00:42:07.800 remember that I want to put the first chap up 728 00:42:07.840 --> 00:42:09.960 with the one to five. You are. You are investing 729 00:42:10.079 --> 00:42:13.119 money to create passive income for yourself, not for your 730 00:42:13.119 --> 00:42:16.679 next of kin, for yourself. If you when you right, 731 00:42:16.719 --> 00:42:18.159 and I'm not sure how you old you are, but 732 00:42:18.199 --> 00:42:20.960 you're live very young, you have to you have years 733 00:42:20.960 --> 00:42:23.559 that you're going to work. Where you work, You've got 734 00:42:23.559 --> 00:42:27.760 to compound your income so that you have income flow 735 00:42:27.880 --> 00:42:31.280 for you when you stop working. So think about that, 736 00:42:31.280 --> 00:42:33.360 that it's not just investing for your next of kin, 737 00:42:33.440 --> 00:42:36.280 but for yourself when you are sixty, even if you 738 00:42:36.320 --> 00:42:39.880 want to work and you are more responsible, can you 739 00:42:39.960 --> 00:42:43.199 still have that strength to wake up, get to traffic, 740 00:42:43.239 --> 00:42:45.719 and go do a job. In your active work, It's 741 00:42:45.800 --> 00:42:48.440 easy to do passive income. So look at it that way, 742 00:42:48.480 --> 00:42:52.079 that whatever you are investing, it's for you to end 743 00:42:52.159 --> 00:42:57.480 passive income down the line. Again, take ten percent, blow 744 00:42:57.519 --> 00:43:01.280 your ten percent, but try to invest that eight or 745 00:43:01.320 --> 00:43:04.199 nineteen percent. So I egene risk pacific income for you. 746 00:43:04.199 --> 00:43:06.840 Remember what I'm saying I'm saying, even if you spend 747 00:43:06.840 --> 00:43:09.639 the passive income, I'm not mad at you. But if 748 00:43:09.639 --> 00:43:12.719 you spend the principal, yeah, I'm mad at you. Right, 749 00:43:12.760 --> 00:43:13.440 So that's what I'm. 750 00:43:13.320 --> 00:43:16.519 Going to quick look at that principal and interest. 751 00:43:16.599 --> 00:43:19.599 If you don't trust yourself, Okay, I agree, spend the 752 00:43:20.039 --> 00:43:23.639 spend the returns, but that principle please invested that we 753 00:43:23.679 --> 00:43:29.360 are friends? Is that okay? Yeah? All right? 754 00:43:29.639 --> 00:43:31.280 All right, welcome, Thank you so much. 755 00:43:31.360 --> 00:43:34.440 You're very very welcome. Man. How are you doing, sir? 756 00:43:39.039 --> 00:43:41.880 I'm doing very well. It was excellent, and thanks for asking. 757 00:43:43.039 --> 00:43:44.320 Do you have a question of mine? 758 00:43:46.119 --> 00:43:48.559 No, actually, I'm just doing this is. 759 00:43:48.480 --> 00:43:51.079 Excellent, just hanging there for us. All right, So now 760 00:43:51.159 --> 00:43:54.079 let's yeah, now, let's go back to our charts for 761 00:43:54.239 --> 00:43:56.920 number three. Number three is asking you look at the 762 00:43:57.119 --> 00:44:04.119 current network network. Remember talked about income expenses. We've talked 763 00:44:04.119 --> 00:44:11.039 about budgets, music fund now we're talking about network. Income 764 00:44:11.599 --> 00:44:16.119 is not the same thing as network. So if I 765 00:44:16.440 --> 00:44:20.239 end a million IRA, it does not mean I am 766 00:44:20.320 --> 00:44:25.320 worth a MILLIONNRA. It doesn't I have to convert my 767 00:44:25.519 --> 00:44:31.199 one million IRA to passive income. That's only when I 768 00:44:31.239 --> 00:44:34.559 am what's a million? So the question is asking you 769 00:44:34.599 --> 00:44:38.920 look up your current network. Do you have a schedule 770 00:44:39.480 --> 00:44:42.280 of your assets and liability? So I'm asking you guys, now, 771 00:44:42.320 --> 00:44:46.079 do you have anywhere on the internet and excelsily do 772 00:44:46.239 --> 00:44:50.960 you have listed every asset you have, your as no jesse, 773 00:44:51.559 --> 00:44:55.840 your landing away, your car with the bin number. Do 774 00:44:55.880 --> 00:44:58.079 you have any place where you have detailed all your 775 00:44:58.159 --> 00:45:01.119 assets and your liabilities on an sell sheet away? You 776 00:45:01.239 --> 00:45:03.960 have to do that right. It's also asking you do 777 00:45:04.079 --> 00:45:09.840 you have so your assets and liabilities? Divide your assets 778 00:45:10.039 --> 00:45:12.920 and your liabilities? When you do your your what you 779 00:45:13.039 --> 00:45:18.559 own and what you own divided income generating assets on 780 00:45:18.559 --> 00:45:23.280 one side, none incommuting assets on the other side. 781 00:45:23.760 --> 00:45:26.280 So what do I mean If you own a. 782 00:45:26.320 --> 00:45:31.440 Car, is that car an asset or a liability? A 783 00:45:31.559 --> 00:45:33.760 countdown to stay that the car is an asset, but 784 00:45:33.880 --> 00:45:36.519 it is correct if the car if you spend more 785 00:45:36.599 --> 00:45:40.119 money on the car than you earn, that car is 786 00:45:40.159 --> 00:45:43.719 the liability. So you want to divide in your asset column, 787 00:45:44.239 --> 00:45:48.280 divide into assets that give you money and asset that 788 00:45:48.400 --> 00:45:53.559 takes your money from you incomputating assets non incompletent assets, 789 00:45:53.920 --> 00:45:56.920 centering of your liabilities. You want to say are you 790 00:45:57.119 --> 00:46:01.039 paying debts on that liability or not paying debt? Got 791 00:46:01.159 --> 00:46:05.119 this way? If your father gives you money, that shes 792 00:46:05.159 --> 00:46:08.320 you money and it says you're oil meal, Yes, he 793 00:46:08.480 --> 00:46:10.639 only expected to bring him back with print upon him, 794 00:46:10.639 --> 00:46:12.559 and I expect you to bring him back with interest. 795 00:46:12.880 --> 00:46:16.280 So that's a liability, but it's not interest generated. 796 00:46:16.559 --> 00:46:16.760 Right. 797 00:46:17.079 --> 00:46:20.360 Samely, if you work for a cooperative right conrectly could 798 00:46:20.400 --> 00:46:22.400 say well, I'm gonna give you money at low interest 799 00:46:22.440 --> 00:46:25.320 of me two percent, it's a liability, but very very 800 00:46:25.320 --> 00:46:26.119 low liability. 801 00:46:26.199 --> 00:46:26.400 Right. 802 00:46:26.559 --> 00:46:29.760 So you want to divide your assets and your liabilities 803 00:46:29.840 --> 00:46:34.840 into interest bearing and interest bearing income cost and interest cost. 804 00:46:35.199 --> 00:46:37.519 I want to ask yourself some questions. Are you reach 805 00:46:37.559 --> 00:46:41.639 out today? What is rich? Riaches that your assets and 806 00:46:41.800 --> 00:46:45.920 one of your liabilities. You want to ask yourself, how 807 00:46:45.960 --> 00:46:49.320 did you levage your networks? If you are rich, what 808 00:46:49.400 --> 00:46:51.519 did you do about it? Did you take more ass 809 00:46:51.519 --> 00:46:54.440 as and invest to make more passively income on line? Right? 810 00:46:54.960 --> 00:46:58.440 How did you create multiple streams of income? Are you 811 00:46:58.559 --> 00:47:02.199 only learning from one source and that's wants us identity 812 00:47:02.280 --> 00:47:04.840 your assets? So number three is asking you not to 813 00:47:04.840 --> 00:47:08.679 look at your assets your liabilities to divide them into 814 00:47:08.679 --> 00:47:11.440 wards they are and watch your pain out and to 815 00:47:11.519 --> 00:47:15.760 ask yourself are you insulated from one multiple source of 816 00:47:15.800 --> 00:47:19.800 income or two? So number one is to turn about 817 00:47:19.800 --> 00:47:24.000 your expenses, right what are your expenses? Are you tracking them? 818 00:47:24.079 --> 00:47:27.159 And a number two is showing you how to budget. 819 00:47:27.239 --> 00:47:30.039 So it's saying put your income and expense it into 820 00:47:30.079 --> 00:47:33.000 a budget asset. Don't go into a budget, welcome into 821 00:47:33.000 --> 00:47:36.280 a budget. Is your income and your expenses. The number 822 00:47:36.320 --> 00:47:38.559 three now is telling you to bring it together and 823 00:47:38.840 --> 00:47:43.519 talk about your networds. Your netflods contain your assets and 824 00:47:43.599 --> 00:47:46.920 your labilities. Right, perfect, That's be a huge question to 825 00:47:47.000 --> 00:47:50.199 me here, let's get the I've got son of David, 826 00:47:50.400 --> 00:47:54.119 is that you know the story behind Nija? How are 827 00:47:54.119 --> 00:47:54.440 you doing? 828 00:47:57.119 --> 00:47:57.199 That? 829 00:47:57.320 --> 00:47:57.880 Wasn't minded? 830 00:48:00.280 --> 00:48:01.440 So thank you very much. 831 00:48:01.920 --> 00:48:04.639 This is the first time I'm giving an opportunity to 832 00:48:04.639 --> 00:48:05.679 ask the question here. 833 00:48:07.199 --> 00:48:09.360 Really interest and thank you very much. 834 00:48:09.440 --> 00:48:12.719 I wanted to ask if you're running a business but 835 00:48:12.920 --> 00:48:15.639 currently it's not Nigeria. 836 00:48:16.360 --> 00:48:19.440 Uh, you're using a different currency. 837 00:48:19.000 --> 00:48:20.920 But you can be able to transford in to your 838 00:48:21.079 --> 00:48:24.599 local currency without having much text on it. 839 00:48:25.440 --> 00:48:29.559 Then which one the advice is it? One advice to 840 00:48:29.760 --> 00:48:34.360 save your emergency income to your local currency? Or the 841 00:48:34.400 --> 00:48:38.199 currency on the particular list. So that's my question. 842 00:48:38.760 --> 00:48:41.719 Let's let's lets let's make it. So let's see I work, 843 00:48:41.880 --> 00:48:45.000 I work for you company. You can complete build me pounds, right, 844 00:48:45.719 --> 00:48:50.800 and I spend money in Nigeria. Right for this specific case, 845 00:48:50.920 --> 00:48:53.920 I'll always keep my money in the foreign currency. Why 846 00:48:54.639 --> 00:48:58.239 less inflation. So that's an inflational question. If you have 847 00:48:58.320 --> 00:49:02.280 the opportunity to end only in a foreign currency or 848 00:49:02.320 --> 00:49:04.679 the local currency, I would always advise you hold the 849 00:49:04.719 --> 00:49:08.039 foreign currency because of information. Right, then you can always 850 00:49:08.239 --> 00:49:11.360 do your caucus and say, okay, what's the exchange rate? 851 00:49:11.760 --> 00:49:15.320 The extendustries is one to one hundred, so I keep 852 00:49:15.480 --> 00:49:18.920 one pound part one hundred NR. But I still maintain 853 00:49:19.000 --> 00:49:23.039 the numerical value of the emgency fund. But I simply 854 00:49:23.199 --> 00:49:26.639 hold the funds in that's foreign currency and not nive 855 00:49:26.679 --> 00:49:27.599 because the Nira. 856 00:49:27.440 --> 00:49:28.599 Would depreciate faster. 857 00:49:29.239 --> 00:49:32.119 So I have to keep on maintaining my my emency 858 00:49:32.199 --> 00:49:34.800 fund every years to keep on going up and up. 859 00:49:35.079 --> 00:49:37.320 But if I hund it ten dollars of pounds, the 860 00:49:37.599 --> 00:49:40.039 infinite is less on dollar pounds, so I don't have 861 00:49:40.079 --> 00:49:44.280 to keep on putting money into It's a great question 862 00:49:44.400 --> 00:49:49.159 because the best way. You don't take your emergency fund. 863 00:49:49.239 --> 00:49:52.320 Are you invested? No, you're not supposed to take relacy 864 00:49:52.360 --> 00:49:56.000 phone and buy shares. It has to be cash or 865 00:49:56.159 --> 00:50:01.280 near cash your emagency fund. It's going to be cash 866 00:50:01.760 --> 00:50:04.760 on your cash with me that if you hold cash 867 00:50:04.880 --> 00:50:08.280 in Iran, look you don't want education. So I always 868 00:50:08.320 --> 00:50:11.480 recommend if you have the opportunity, if you're blessed and 869 00:50:11.519 --> 00:50:14.800 you have that income holding in the foreign currency. Does 870 00:50:14.840 --> 00:50:21.159 that makes sense? Yeah? Perfect, Okay, let me get are 871 00:50:21.199 --> 00:50:22.960 your all back? Are you how are you doing? What's 872 00:50:23.000 --> 00:50:30.239 in your mind? I? Are you alone? 873 00:50:30.280 --> 00:50:30.440 Back? 874 00:50:30.920 --> 00:50:31.119 Yeah? 875 00:50:31.519 --> 00:50:32.199 Thank you so much. 876 00:50:32.800 --> 00:50:36.519 You're gonna hear you go ahead, Oh, thank. 877 00:50:36.360 --> 00:50:36.760 You so much. 878 00:50:36.840 --> 00:50:40.639 Just to come. What's my night is simple? What have 879 00:50:40.760 --> 00:50:41.800 you been when I? 880 00:50:42.159 --> 00:50:43.079 Where was this meeting? 881 00:50:43.079 --> 00:50:45.199 When I just got my job last years? 882 00:50:46.360 --> 00:50:47.440 Where was this meeting? 883 00:50:47.639 --> 00:50:47.719 Like? 884 00:50:48.280 --> 00:50:51.039 Because I kind of come from the background where we 885 00:50:51.079 --> 00:50:55.119 didn't really have enough of this financial detric I know 886 00:50:55.239 --> 00:50:57.039 that my my story is not that unique. 887 00:50:57.360 --> 00:50:59.280 You know, when you grow up in the home where. 888 00:51:00.679 --> 00:51:03.360 You have seen your parents survive on the grace of God, 889 00:51:03.480 --> 00:51:04.840 like God to provide. 890 00:51:04.599 --> 00:51:07.400 So you kind of grew up to have that mentality. 891 00:51:08.079 --> 00:51:10.840 So I think when I got my job in a Bunja. 892 00:51:11.079 --> 00:51:14.440 Last two years, I made a lot of them mistake unconsciously, 893 00:51:15.280 --> 00:51:17.280 unclously and towards this. 894 00:51:18.320 --> 00:51:19.679 Towards this I think November. 895 00:51:19.960 --> 00:51:23.800 Yeah, towards this November I learned the hard way a 896 00:51:23.920 --> 00:51:27.559 mental conference and some mentors and exactly all the things 897 00:51:27.559 --> 00:51:28.119 you were saying. 898 00:51:28.119 --> 00:51:30.639 Well the things day told me that you have a body, and. 899 00:51:30.719 --> 00:51:32.840 You have planned, you have control over your money. 900 00:51:33.119 --> 00:51:38.039 So maybe I saw this clating immediately because to them. 901 00:51:38.559 --> 00:51:41.320 And so far it has been my situation. 902 00:51:43.159 --> 00:51:44.079 Are due to. 903 00:51:44.119 --> 00:51:48.360 My recorless experience. I end Overhundka. 904 00:51:49.480 --> 00:51:52.840 Working on research and policy analysts. 905 00:51:54.559 --> 00:51:58.000 Well, at the end of the year, I wasn't a negative. 906 00:51:58.920 --> 00:52:03.719 Okay, and yeah this so right now and I don't. 907 00:52:03.599 --> 00:52:06.079 Know, okay, I have some information the knowledge. 908 00:52:06.280 --> 00:52:09.639 Can I need to budget this non discussionary and need 909 00:52:09.679 --> 00:52:11.639 to have them sort discussionary? 910 00:52:13.320 --> 00:52:15.360 How does one I mean uncle. 911 00:52:15.360 --> 00:52:18.199 From here to paying up the legative? 912 00:52:19.320 --> 00:52:20.280 Yeah, so. 913 00:52:21.760 --> 00:52:26.960 Have using up or have using up like it's safe 914 00:52:27.000 --> 00:52:30.000 like you called it like I got you stop stop 915 00:52:30.039 --> 00:52:32.639 from the favorite the beginning. Likewise they stop from the beginning. 916 00:52:32.920 --> 00:52:35.920 So were you here when I share that chat that 917 00:52:36.000 --> 00:52:39.199 talks about how you do one number one or before 918 00:52:39.519 --> 00:52:40.519 that chart I shared. 919 00:52:41.039 --> 00:52:43.840 Your I don't make your friends. 920 00:52:46.320 --> 00:52:47.960 So start start from there. 921 00:52:48.719 --> 00:52:51.519 Go go back and an excel ship list out your 922 00:52:51.559 --> 00:52:54.480 income list, start your active income. Do you have any 923 00:52:54.519 --> 00:52:55.599 passive income right now? 924 00:52:56.679 --> 00:52:56.880 No? 925 00:52:56.880 --> 00:53:00.480 No, no, no. So now you have only active income, you 926 00:53:00.480 --> 00:53:03.239 are missing pacific or what means you can't retire? That's 927 00:53:03.280 --> 00:53:05.960 what it means, you can't retire. So number one thing 928 00:53:05.960 --> 00:53:14.719 you sorry, no retire is not an age ream just 929 00:53:14.800 --> 00:53:18.880 means when your passive income can pay your non discretion expense, 930 00:53:18.920 --> 00:53:22.039 then you can so. So first of all, you have 931 00:53:22.159 --> 00:53:26.039 your active income. You want to say, okay, I can 932 00:53:26.079 --> 00:53:28.760 share it on YouTube if you're on YouTube, I will 933 00:53:28.800 --> 00:53:31.960 share it if you reach charity, but on Twitter. Not really, 934 00:53:32.400 --> 00:53:35.679 you want to take an amount, even if it's ten percent, 935 00:53:35.920 --> 00:53:39.000 even if it's five percent. Once you end your income, 936 00:53:39.559 --> 00:53:43.440 pay yourself first. Take that money and putting your passive 937 00:53:43.480 --> 00:53:46.400 income pacificcome here means that you are invest into something 938 00:53:46.480 --> 00:53:49.000 I want to take today. But you talk to more 939 00:53:49.039 --> 00:53:51.679 really in ten years time. So you can't say, for instance, 940 00:53:51.719 --> 00:53:53.920 I want to buy in which was fund in Nigeria, 941 00:53:54.159 --> 00:53:55.639 or I want to use those apps and buy in 942 00:53:55.639 --> 00:53:59.000 which was fund in America ten percent, five percent, It 943 00:53:59.000 --> 00:54:02.000 doesn't matter what much is the consistency. So you eard 944 00:54:02.039 --> 00:54:05.679 one hundred thousand, take out ten thousand and invest immediately. 945 00:54:05.719 --> 00:54:07.119 That's your passive income. You do that. 946 00:54:07.360 --> 00:54:10.079 Your look of now from that active income you have, 947 00:54:10.199 --> 00:54:14.679 you not have ninety. You look at your nondiscretionary and discretionary. 948 00:54:14.960 --> 00:54:19.159 Your debt is under nondiscretionary. It means you must pay 949 00:54:19.199 --> 00:54:23.639 that debt. There's debt management strategies separate from it. When 950 00:54:23.760 --> 00:54:28.079 your budget it's a stress percentagy on debt. I think 951 00:54:28.159 --> 00:54:30.960 we're going to talk about debt somewhere on this channel. 952 00:54:30.960 --> 00:54:32.960 I will show you how to get out of debt. 953 00:54:33.199 --> 00:54:36.760 You don't do snowball or you do avalanche metal. You 954 00:54:36.800 --> 00:54:40.280 basically say you want to attack that debt and pay 955 00:54:40.360 --> 00:54:43.400 off the principle. It can be a four year, three year, 956 00:54:43.480 --> 00:54:46.559 two year, doesn't matter, but you want to pay off 957 00:54:46.559 --> 00:54:48.760 the principle with means. When they give you a loan, 958 00:54:49.199 --> 00:54:51.760 you never want to pay interest. You want to pay 959 00:54:51.880 --> 00:54:55.280 more to the principle. So you kield that debt of 960 00:54:55.480 --> 00:54:59.639 faster witness for now. If you drop up your budget, 961 00:54:59.679 --> 00:55:03.920 are your your passive income cannot pay your non discretionary 962 00:55:04.320 --> 00:55:08.159 your total income. Can your total income cover your debt 963 00:55:08.639 --> 00:55:12.000 and your non discussion expenses question for you? So like 964 00:55:12.000 --> 00:55:15.440 what I'm asking is without you, without the where you 965 00:55:15.599 --> 00:55:17.559 end money, can you pay your loan. 966 00:55:17.480 --> 00:55:19.280 Off and also pay your expenses? 967 00:55:21.599 --> 00:55:21.639 No? 968 00:55:21.840 --> 00:55:22.880 No, I only do. 969 00:55:24.400 --> 00:55:26.000 So your problem is really your income. 970 00:55:26.679 --> 00:55:28.639 So you have an income problem. That's why I think 971 00:55:28.679 --> 00:55:31.280 the problem is because if your your income has got 972 00:55:31.360 --> 00:55:34.679 to pay at least your your to service your debt 973 00:55:35.199 --> 00:55:37.840 and your expenses. If it can't do that, then you 974 00:55:37.840 --> 00:55:40.360 don't have to go And further, you have an income 975 00:55:40.440 --> 00:55:43.800 problem on top because you can't change the debt and 976 00:55:43.880 --> 00:55:46.639 you bost eat food, so we can't tell you don't 977 00:55:46.639 --> 00:55:49.039 eat food pay the debt. You've got to go back 978 00:55:49.039 --> 00:55:52.199 to your income side and grow that income based that's 979 00:55:52.239 --> 00:55:55.280 what thing to do. Get a second job, get a 980 00:55:55.360 --> 00:55:58.320 side gig, but you've got to grow that debt. If 981 00:55:58.320 --> 00:56:01.519 you take if you can refinance your debt, that helps. 982 00:56:01.920 --> 00:56:04.039 But you've got to focus on the income so you 983 00:56:04.079 --> 00:56:08.360 can pay at least one of your debts or your expenses. 984 00:56:08.360 --> 00:56:10.280 Because if your dad can't pay a few not I 985 00:56:10.280 --> 00:56:13.239 need to talk about your expenses. So you're non discretionary 986 00:56:13.599 --> 00:56:16.039 and you want to forgotten that and I can give 987 00:56:16.079 --> 00:56:19.760 you if you go on you see my name go 988 00:56:19.920 --> 00:56:22.599 with w calu at dot org. If you go to 989 00:56:22.639 --> 00:56:25.960 that site, you will see an excel shit that have 990 00:56:26.079 --> 00:56:28.639 that you can't use. It is for free. You can 991 00:56:28.760 --> 00:56:31.239 plug in your fucause you'll show you exactly what I 992 00:56:31.280 --> 00:56:33.239 want you to do to show you how much you 993 00:56:33.280 --> 00:56:36.519 are making where you are negative. And you can actually 994 00:56:36.599 --> 00:56:39.760 use that chat to reprogram your income. So if you 995 00:56:39.760 --> 00:56:43.199 go to the website, yeah does callo at dot org, 996 00:56:43.360 --> 00:56:48.119 you'll see let me go. You see it's called financial calculator. Yeah, 997 00:56:48.360 --> 00:56:50.400 you can use our cabin and so plug us in 998 00:56:50.719 --> 00:56:52.800 and if you give you something. But can you have 999 00:56:52.840 --> 00:56:55.760 an income problem? Know that helps. 1000 00:56:58.239 --> 00:57:00.639 Thank you so much. 1001 00:57:02.119 --> 00:57:06.920 That's what I'm watching on that. And even if you 1002 00:57:06.960 --> 00:57:11.440 can't raise your income, you've got to try to pay 1003 00:57:11.480 --> 00:57:15.800 that debt of the principle. Have to put that principle 1004 00:57:15.920 --> 00:57:19.559 of very important. Right, I appreciate you coming. Just if 1005 00:57:19.559 --> 00:57:21.519 you got to financial if you go to that website 1006 00:57:21.880 --> 00:57:27.119 Calua dot org, you click on financial calculator, right, it 1007 00:57:27.320 --> 00:57:31.119 will you're basically log in. You can create something there. 1008 00:57:31.559 --> 00:57:34.599 You can see your main website, your income and expenses. 1009 00:57:34.679 --> 00:57:39.039 You can's automatic when you're plugging your income is calculating 1010 00:57:39.119 --> 00:57:41.480 things for you. Just go in and you're plugging your 1011 00:57:41.480 --> 00:57:44.760 expensive to video to carpuse lots of stuff for you. Yeah, 1012 00:57:44.800 --> 00:57:48.480 so try to use that guy, yea perfect Yeah, let 1013 00:57:48.519 --> 00:57:50.559 me know you. Let me know so that I've got 1014 00:57:50.559 --> 00:57:54.760 your I've got greatics, great great X on the score posts. 1015 00:57:59.519 --> 00:58:00.239 I can hear you pray. 1016 00:58:00.519 --> 00:58:02.280 What's your fine? 1017 00:58:02.320 --> 00:58:02.639 Friends? 1018 00:58:02.679 --> 00:58:05.440 Mindy said, I don't know if I should remember that 1019 00:58:05.480 --> 00:58:06.800 I discussing fact. 1020 00:58:07.599 --> 00:58:08.320 I don't have to. 1021 00:58:08.280 --> 00:58:12.199 Organize issue. 1022 00:58:13.280 --> 00:58:18.079 I say about currently now we have unemployment quote unquote 1023 00:58:18.119 --> 00:58:21.920 four point but between the first we know that we 1024 00:58:22.039 --> 00:58:24.239 have a lot of you throw around their mid days 1025 00:58:24.519 --> 00:58:27.639 in their forties on the air twenty those two investing 1026 00:58:27.719 --> 00:58:30.679 without a big job, without any ECO or really mating 1027 00:58:30.920 --> 00:58:33.639 X with some of them with the pere and let's 1028 00:58:33.639 --> 00:58:36.000 you say, job which we know after around here or. 1029 00:58:35.880 --> 00:58:39.360 Two years off. And these people are going to grow 1030 00:58:39.480 --> 00:58:42.400 up to fort these fifties and sixties with. 1031 00:58:42.480 --> 00:58:45.920 Little and new income, little new skill, putting their spaces 1032 00:58:45.960 --> 00:58:49.079 for that it's waiting for them. So what advice do 1033 00:58:49.239 --> 00:58:52.480 you have for those people? Because now we don't know 1034 00:58:52.599 --> 00:58:55.760 the ship that's like there is, and we don't know 1035 00:58:55.800 --> 00:58:58.079 what things will been around ten or twenty or fifty 1036 00:58:58.119 --> 00:59:01.239 early eighties, and there these people will be in your 1037 00:59:01.280 --> 00:59:05.320 forties and sisters and will have to even if things 1038 00:59:05.360 --> 00:59:08.400 get better, you have to compete with people if there 1039 00:59:08.440 --> 00:59:10.920 are twenties and thirties with the same skill that is 1040 00:59:10.960 --> 00:59:14.400 required for that time all day with give lesser skills. 1041 00:59:15.039 --> 00:59:18.719 So what I think you do? You understand the question 1042 00:59:18.840 --> 00:59:20.159 what issould have tried to and. 1043 00:59:20.239 --> 00:59:23.079 You said that if you're like you a disadvantage to folks, 1044 00:59:23.119 --> 00:59:24.239 and thought I mean. 1045 00:59:24.159 --> 00:59:26.239 Is saying no, no, I'm not even comparing that you are. 1046 00:59:26.320 --> 00:59:29.239 The folks are broad and that's another issue. What I'm 1047 00:59:29.280 --> 00:59:31.199 saying is that now you have Beyon. 1048 00:59:31.519 --> 00:59:33.599 In his staties. Roman has the streets. 1049 00:59:33.280 --> 00:59:36.719 Nothing, gold on, nothing ending pin or so ending nothing. 1050 00:59:37.360 --> 00:59:39.280 He's going to become forty fifty. 1051 00:59:39.199 --> 00:59:42.280 Very still, and by that time he has little or 1052 00:59:42.320 --> 00:59:46.119 nothing booty and skill, and the siblings so far back 1053 00:59:46.159 --> 00:59:49.880 to and let's even as utiens get better in that time, 1054 00:59:49.960 --> 00:59:52.880 let's say twenty ye is time, and their jobs everywhere 1055 00:59:52.960 --> 00:59:55.039 with aun employment that you know, when. 1056 00:59:54.920 --> 00:59:56.039 You're four percent. 1057 00:59:55.840 --> 00:59:59.400 Of what it is now we've got more about he 1058 00:59:59.480 --> 01:00:01.880 will have to compete at that time with people of 1059 01:00:01.920 --> 01:00:02.840 twenties and tenties. 1060 01:00:02.840 --> 01:00:07.039 We skilled for that time, but with age to side skill, 1061 01:00:07.119 --> 01:00:08.840 not the side service, not design. 1062 01:00:09.320 --> 01:00:13.639 So what advice do you have for people now that 1063 01:00:13.800 --> 01:00:17.679 are in this position now so that you can be 1064 01:00:17.679 --> 01:00:20.000 in a better position in ten twenty years time? 1065 01:00:20.320 --> 01:00:22.960 So you know, right, let's in finacial planet. 1066 01:00:23.000 --> 01:00:25.159 We have this method have to use right that says 1067 01:00:25.199 --> 01:00:30.559 that the older you are you have more assets. 1068 01:00:30.039 --> 01:00:32.760 Than the younger you are. Young, the younger you are, you. 1069 01:00:32.760 --> 01:00:35.960 Have more income and less assets. I was just here 1070 01:00:36.360 --> 01:00:37.079 ends and income. 1071 01:00:37.719 --> 01:00:39.559 We want to sorry, sorry, but we want to know 1072 01:00:39.719 --> 01:00:42.039 that now at. 1073 01:00:41.880 --> 01:00:44.400 The rate we are going as initial in. 1074 01:00:44.320 --> 01:00:50.639 Nigeria, that's metrix will soon be done on this head 1075 01:00:51.280 --> 01:00:51.519 you know. 1076 01:00:51.639 --> 01:00:53.599 You know, you know what I mean explained. 1077 01:00:53.760 --> 01:00:56.199 So what I'm saying is that you have to when 1078 01:00:56.199 --> 01:00:58.719 you're a young person, whatever income you get, you got 1079 01:00:58.760 --> 01:01:01.920 to buy assets today. You've got to buy access today. 1080 01:01:02.000 --> 01:01:04.639 Let me tell you a story. While I was in university, 1081 01:01:05.400 --> 01:01:08.639 the class the guy above me that left Nigeria, he 1082 01:01:08.719 --> 01:01:10.280 was like I was in year one, he was in 1083 01:01:10.400 --> 01:01:12.760 year four. He was more the first half of zen 1084 01:01:12.840 --> 01:01:18.440 it Bag back then, Lucky phase Ley roundabout was Lucky one. 1085 01:01:18.519 --> 01:01:21.119 There was no Lecky Toley three. He bought land in 1086 01:01:21.239 --> 01:01:25.760 leky two and he left Nigeria for ten years. When 1087 01:01:25.760 --> 01:01:28.559 it came up to Nigeria, somewhere offered him one billion 1088 01:01:28.639 --> 01:01:30.960 dollars for that same line he brought when he bought 1089 01:01:31.079 --> 01:01:35.079 lange or swamp. So when you are younger, you've got 1090 01:01:35.079 --> 01:01:37.599 to buy assets that are going to generate a income 1091 01:01:37.719 --> 01:01:40.480 for you tomorrow. You can't compete in the quali. You 1092 01:01:40.519 --> 01:01:42.960 can't compete to buy stocks. You've got to try to 1093 01:01:43.079 --> 01:01:45.960 use your money to make the largest impact for you 1094 01:01:46.079 --> 01:01:49.159 sore down the line. If you have bought those assets, 1095 01:01:49.480 --> 01:01:52.719 just appraising late and allow you to then invest. 1096 01:01:52.840 --> 01:01:54.480 If you wait, you make money. 1097 01:01:54.880 --> 01:01:57.119 You will never buy any as in legal state or 1098 01:01:57.320 --> 01:02:01.039 a budja or protacle, or you will let You've got 1099 01:02:01.039 --> 01:02:05.000 to when you are younger, going to debt to buy 1100 01:02:05.039 --> 01:02:08.280 an asset so that when you are older you have 1101 01:02:08.400 --> 01:02:11.320 that asset with now income to invest. 1102 01:02:11.679 --> 01:02:13.760 There is the same This thing you are saying is 1103 01:02:13.760 --> 01:02:14.559 the same in America. 1104 01:02:15.239 --> 01:02:17.840 If you are younger, you are seeking to grow up 1105 01:02:17.880 --> 01:02:21.199 and completely the younger folks at any money in tech 1106 01:02:21.440 --> 01:02:24.880 that would be any more than you. But time makes 1107 01:02:25.039 --> 01:02:29.119 your money compound. Time makes your assets compound. If you 1108 01:02:29.199 --> 01:02:32.000 buy a property, if you buy a raw land in 1109 01:02:32.079 --> 01:02:37.800 one village twenty years ago this year, that's really rewors 1110 01:02:37.840 --> 01:02:43.119 more and that's your advantage ATTA that time has compounded as. 1111 01:02:42.960 --> 01:02:44.599 An investment over the years. 1112 01:02:44.840 --> 01:02:48.239 If you wait, they of course you are competing, like 1113 01:02:48.400 --> 01:02:51.000 what you're saying, and you can live up in them 1114 01:02:51.079 --> 01:03:00.000 because you have more income than you. 1115 01:02:56.360 --> 01:03:02.239 You're very college. What you need now is you I 1116 01:03:02.239 --> 01:03:02.719 think you. 1117 01:03:02.679 --> 01:03:05.480 Are much You're much older than me, so I would 1118 01:03:05.480 --> 01:03:06.719 say I'm a bit closer. 1119 01:03:06.519 --> 01:03:09.960 Too than you. Challenge. 1120 01:03:11.639 --> 01:03:13.199 The people in this. 1121 01:03:13.440 --> 01:03:17.039 Age bracket now are fighting to stare life not able 1122 01:03:17.079 --> 01:03:23.039 to invest. Everything they have now is target just awards 1123 01:03:23.119 --> 01:03:27.440 being a life not to invest. They have not invested 1124 01:03:27.440 --> 01:03:29.199 in anything right now and they're. 1125 01:03:29.079 --> 01:03:30.559 Literally nothing to appreciate it too. 1126 01:03:31.039 --> 01:03:33.639 I can't and that's why. And that's the point. 1127 01:03:33.760 --> 01:03:35.679 Yeah, yeah, right, there's no And that's the point I 1128 01:03:35.800 --> 01:03:36.599 make right that. 1129 01:03:37.280 --> 01:03:40.480 The folks that are going to be rich in twenty 1130 01:03:40.559 --> 01:03:43.039 years time are the folks today. 1131 01:03:44.079 --> 01:03:45.599 As I invest in, it's not. 1132 01:03:45.559 --> 01:03:46.159 Going to change. 1133 01:03:46.280 --> 01:03:46.840 I'm not care to. 1134 01:03:47.360 --> 01:03:49.280 I can't answer that could Like I know you're asking, 1135 01:03:50.239 --> 01:03:52.079 you say, people can't invest. 1136 01:03:52.119 --> 01:03:52.679 What people are. 1137 01:03:52.840 --> 01:03:55.920 You can still buy your phone, people can still buy clothes. 1138 01:03:56.079 --> 01:03:59.039 I mean, it's your call. What I'm telling you is simple. 1139 01:04:00.079 --> 01:04:02.920 Folks that invest today, I'm going to be the folks 1140 01:04:02.960 --> 01:04:05.880 in twenty years that I do to be in middle 1141 01:04:05.880 --> 01:04:09.159 class in this bad period. This but when it is 1142 01:04:09.199 --> 01:04:13.159 a bad period, that's why you invest. If Nigeria is good, 1143 01:04:13.519 --> 01:04:16.480 then prices are gonna go high. You can't buy anything. 1144 01:04:16.760 --> 01:04:20.280 If Nigeria is bad, everything is at a discount. The 1145 01:04:20.360 --> 01:04:22.480 folks that if you can't buy legals go to Abia, 1146 01:04:22.599 --> 01:04:24.039 go to your b and buy land. 1147 01:04:25.000 --> 01:04:27.119 So you want to leave probe going to go are 1148 01:04:27.119 --> 01:04:27.480 and when they. 1149 01:04:27.440 --> 01:04:29.320 Can have value. If you cannot go to your village, 1150 01:04:29.559 --> 01:04:32.000 if you say things that have in legals, go back 1151 01:04:32.000 --> 01:04:34.039 to your play and open up the school. There are 1152 01:04:34.079 --> 01:04:37.119 many kids in your village that needs education. You aredea educated, 1153 01:04:37.239 --> 01:04:40.079 Go at your village and in an income let them. 1154 01:04:40.119 --> 01:04:42.800 They just pay you with yam, take the yam and 1155 01:04:42.880 --> 01:04:45.280 sell to the township. You've got to use your education 1156 01:04:45.440 --> 01:04:47.880 to get ahead. And I know all the answers, but the 1157 01:04:47.920 --> 01:04:50.039 point I'm making is the folks that are going to 1158 01:04:50.039 --> 01:04:53.119 see a middle class in twenty years time when we 1159 01:04:53.280 --> 01:04:56.719 ask them what they're gonna say. Wow, when things were bad, 1160 01:04:57.079 --> 01:04:59.960 I have an identity do pure water? So used to 1161 01:05:00.079 --> 01:05:02.800 buy what in the bottle in that long bag and 1162 01:05:02.840 --> 01:05:06.719 I sled it for one cover. Yeah, it is those 1163 01:05:06.800 --> 01:05:09.880 folks that discovered the way to make money in a 1164 01:05:10.039 --> 01:05:12.719 down market. That don't put me the years in twenty 1165 01:05:12.800 --> 01:05:15.559 years time. I don't know which what they will do, 1166 01:05:16.119 --> 01:05:18.039 but you and I will see them and would they 1167 01:05:18.039 --> 01:05:20.760 will say yes? This will we didn't I answer the question? 1168 01:05:21.440 --> 01:05:25.960 Yeah, yeah, okay that that is at. 1169 01:05:25.800 --> 01:05:30.679 The end of every depression that Microsoft Clare started in 1170 01:05:30.719 --> 01:05:33.639 a pregnant and recession. I believe, yeah so, I mean 1171 01:05:33.960 --> 01:05:36.480 yeah so yeah so again, lots of questions. Can you 1172 01:05:36.840 --> 01:05:38.159 take a question and I five will go out to 1173 01:05:38.199 --> 01:05:40.000 the books. I think I don't even think we're gonna 1174 01:05:40.039 --> 01:05:41.760 have time. You can just go go ahead, let me 1175 01:05:41.800 --> 01:05:44.880 let me hear a question. Gretics put that great question. 1176 01:05:45.639 --> 01:05:51.719 Thank you because you hi, you man London Claire. 1177 01:05:53.559 --> 01:05:58.639 Who outside I won't see it's a very great opportunity. 1178 01:05:58.800 --> 01:06:01.400 I don't know how you do have this. I know 1179 01:06:01.960 --> 01:06:03.760 a lot of people pay for what we are getting 1180 01:06:03.800 --> 01:06:06.119 now for free. I don't know how often you can 1181 01:06:06.199 --> 01:06:08.760 be doing this because I have a million concious to ask, 1182 01:06:08.840 --> 01:06:10.280 but I just cut them down to you. 1183 01:06:12.239 --> 01:06:14.320 Okay, So I would I would. 1184 01:06:14.119 --> 01:06:18.840 Say as a business person, I'm actually I'm a salesman 1185 01:06:20.199 --> 01:06:26.679 now for a farm, a sleeple company. So let's say 1186 01:06:26.760 --> 01:06:30.960 you have money. You have, there's a lot of turnover 1187 01:06:31.400 --> 01:06:34.000 from the little you do some kind of things. And 1188 01:06:34.039 --> 01:06:37.119 then let's as a business person now in that guys, 1189 01:06:37.400 --> 01:06:42.039 who would you advise for someone that has Let's say, 1190 01:06:42.119 --> 01:06:44.639 if you put them money into what you are. 1191 01:06:44.559 --> 01:06:45.920 Doing as a sales person, they. 1192 01:06:45.880 --> 01:06:51.880 Can give you more turnover, probably faster than you having 1193 01:06:52.159 --> 01:06:54.440 let's say, for instance, you have like a million in 1194 01:06:54.480 --> 01:06:59.320 this time the money market, you're all the different things 1195 01:06:59.360 --> 01:07:01.800 you have not to have fun and the rest. 1196 01:07:01.559 --> 01:07:04.960 Of them, and then louding over time with. 1197 01:07:04.960 --> 01:07:11.400 That, and then having that as what would I say 1198 01:07:11.840 --> 01:07:15.000 in the money market to generate money for you? 1199 01:07:15.039 --> 01:07:17.000 Is it that's what you talked about? 1200 01:07:17.159 --> 01:07:17.400 Yeah? 1201 01:07:17.559 --> 01:07:21.440 I think I question you can remember that when people 1202 01:07:21.440 --> 01:07:21.760 get to. 1203 01:07:23.280 --> 01:07:25.800 Okay, go ahead, all right, So. 1204 01:07:25.920 --> 01:07:30.840 Second deser, what would you actually advisor? This is second question? 1205 01:07:31.239 --> 01:07:33.719 What would you advise in this time? Do you you 1206 01:07:33.800 --> 01:07:36.360 have actually answer that? In the course of what you've talked, 1207 01:07:36.480 --> 01:07:41.280 you've talked about the last speaker this question no investment 1208 01:07:41.440 --> 01:07:46.000 in lands. Now as a person, I am side by 1209 01:07:46.079 --> 01:07:49.320 side with fixed deposits because when I was much younger, 1210 01:07:49.400 --> 01:07:52.000 I used to have a fixed the posit account, investment 1211 01:07:52.119 --> 01:07:56.599 in lands and fixed deposits. And then lastly, sorry, I'm 1212 01:07:56.639 --> 01:07:58.760 Marxai so many but I just try to make it 1213 01:07:58.800 --> 01:08:05.159 as the not Lastly, somebody in the basic say, let's 1214 01:08:05.159 --> 01:08:08.719 say two hundred thousand. Now, yeah, sometimes you can't have 1215 01:08:08.800 --> 01:08:11.840 other literally to gage some other things. That just got 1216 01:08:11.880 --> 01:08:15.280 those within the same business side some other side things. 1217 01:08:15.840 --> 01:08:20.960 What do you think about building easy a good idea? Now? Okay, 1218 01:08:21.000 --> 01:08:25.880 so okay, So number one, whatever you do if you 1219 01:08:25.880 --> 01:08:27.199 look at if you go back to when we start 1220 01:08:27.239 --> 01:08:29.399 off with the chat, that actually has passion income and 1221 01:08:29.439 --> 01:08:32.359 active income, you must do that even if you work 1222 01:08:32.399 --> 01:08:35.479 for yourself, even if you work for someone, because your 1223 01:08:35.680 --> 01:08:41.159 income is not your asset. You are not rich because 1224 01:08:41.199 --> 01:08:45.079 you make money. You have income. You are rich because 1225 01:08:45.119 --> 01:08:49.600 you have assets more than liabilities. So when you have 1226 01:08:49.800 --> 01:08:54.039 let's say you have a shop on a chair, you 1227 01:08:54.239 --> 01:08:58.960 bring in one million revenue, that woman, a revenue is 1228 01:08:59.000 --> 01:09:03.399 not your wealth. It's turnover your job. What I'm saying 1229 01:09:03.439 --> 01:09:07.399 to take that turnover and converts to passive income. We 1230 01:09:07.600 --> 01:09:10.960 mean you take ten percent of that turnover. You buy land, 1231 01:09:11.359 --> 01:09:14.720 you buy stocks, you buy fixed income, you buy property, 1232 01:09:14.840 --> 01:09:17.359 whatever you want to do. You want to convert that 1233 01:09:17.560 --> 01:09:21.800 shop money to passive income because you can't be at 1234 01:09:21.840 --> 01:09:25.760 the shop forever. Now, what are your expenses? Not your 1235 01:09:25.760 --> 01:09:29.399 shop expenses, so your own personal expenses. You have school fees, 1236 01:09:30.199 --> 01:09:33.520 you have holiday in Germany, you have car, you have diesel. 1237 01:09:33.640 --> 01:09:36.520 Those are you have to critical writers expenses? I did 1238 01:09:36.600 --> 01:09:41.920 discretionary like I did, like it wants or I didn't 1239 01:09:41.920 --> 01:09:45.800 know discretionary as they need you. Then take that income, 1240 01:09:46.039 --> 01:09:48.399 that's income you are making that you are tend to 1241 01:09:48.479 --> 01:09:53.039 passive income. Your goal is that the passive income can 1242 01:09:53.159 --> 01:09:57.840 pay your personal lifestyle and support your personal lifestyle. Once 1243 01:09:57.920 --> 01:10:02.319 your passive income be your renter, your dividends can support 1244 01:10:02.439 --> 01:10:06.720 your personal lifestyle. You have your riage, you can retire, 1245 01:10:06.800 --> 01:10:09.560 you are rage. You don't looking depending on just one 1246 01:10:09.600 --> 01:10:12.000 sort of income from your store. So that's what I'm 1247 01:10:12.039 --> 01:10:14.720 saying to answer your first question, Yes, you must convert 1248 01:10:14.800 --> 01:10:19.680 your income to assets. It's only when you have assets 1249 01:10:20.039 --> 01:10:22.840 that you are rich. Income is not the same thing 1250 01:10:23.000 --> 01:10:27.840 as world number one number. You're asking about revirement, it's 1251 01:10:27.880 --> 01:10:30.520 about property. You actually by property your own. 1252 01:10:31.680 --> 01:10:36.199 Yes, I'm talking about investments in lands as again talking 1253 01:10:36.239 --> 01:10:40.039 about your fix out there, investments and lands now. 1254 01:10:40.359 --> 01:10:46.279 And so you ask yourself like I said, when you 1255 01:10:46.319 --> 01:10:50.720 do your assets, you divide your assets into two income 1256 01:10:50.760 --> 01:10:55.319 generating non income generating. Land is not going to pay 1257 01:10:55.319 --> 01:10:58.720 you any income. Fix the persons will pay you income, 1258 01:10:59.199 --> 01:11:04.000 but fixed the posits does not grow as fast as inflation. 1259 01:11:05.000 --> 01:11:09.880 Land may grow as fast as inflation. So buy two 1260 01:11:09.920 --> 01:11:13.159 of them. Buy two of them if you can afford it. 1261 01:11:13.359 --> 01:11:15.960 Buy why you buy one buy the land to the 1262 01:11:16.000 --> 01:11:19.399 fix the fixing post is just to pack money, it's not. 1263 01:11:19.439 --> 01:11:21.960 So you're not going to say you want to invest 1264 01:11:22.039 --> 01:11:24.600 in fixing for ever of your life. You're packing one 1265 01:11:24.640 --> 01:11:27.520 in the fixed polity to buy an asset that generates 1266 01:11:27.560 --> 01:11:30.000 income for you. Land is not going to give you 1267 01:11:30.000 --> 01:11:33.279 any income, but it's an asset. We want you to 1268 01:11:33.520 --> 01:11:38.640 invest in assets that give you income, passive income. That's 1269 01:11:38.680 --> 01:11:41.800 what you want. You can buy land, that's fine, it's 1270 01:11:41.840 --> 01:11:42.479 an asset. 1271 01:11:42.560 --> 01:11:43.680 It won't pay you income. 1272 01:11:43.920 --> 01:11:47.039 That's fine, But we also want you to buy assets 1273 01:11:47.079 --> 01:11:49.600 that give you income. So buy two of them. There's 1274 01:11:49.640 --> 01:11:52.920 no difference in the land or fixed income. But you 1275 01:11:52.960 --> 01:11:55.760 want to ask the fruit question, do you need the liquidity. 1276 01:11:56.279 --> 01:11:59.000 If you need liquidity, then you want to do the 1277 01:11:59.039 --> 01:12:03.760 fixed deposit than the land. So again the first positive posse, 1278 01:12:03.840 --> 01:12:07.399 what is your long term objective? If your long term 1279 01:12:07.399 --> 01:12:10.439 objective is just two years, then do fix the posit. 1280 01:12:11.039 --> 01:12:13.880 But if you have thirty years to spend, please buy 1281 01:12:13.920 --> 01:12:17.319 the land. So the answer to your question depends on 1282 01:12:17.399 --> 01:12:20.039 what your own objective is. If you have to invest 1283 01:12:20.039 --> 01:12:23.520 for twenty years by land, if you don't invest for two. 1284 01:12:23.439 --> 01:12:26.640 To three years to fix the posit, what's the last question? 1285 01:12:26.680 --> 01:12:26.920 Again? 1286 01:12:29.359 --> 01:12:33.680 Okay, the long last question is put someone like you're 1287 01:12:33.760 --> 01:12:39.319 saying is in two thousand as physics. Now, what do 1288 01:12:39.439 --> 01:12:41.239 you think about building now? 1289 01:12:41.279 --> 01:12:43.119 And is it a good idea? Of course it's a 1290 01:12:43.119 --> 01:12:45.319 good idea. If you can't deal with because you are 1291 01:12:45.319 --> 01:12:48.720 a review on expense, you are revealing perhaps the last 1292 01:12:48.760 --> 01:12:51.439 expert you have, which is your rector. So if you 1293 01:12:51.479 --> 01:12:55.680 can't convert your autorial town into a house, a house 1294 01:12:55.840 --> 01:13:00.399 becomes either passive income or an experts reduction program. 1295 01:13:00.640 --> 01:13:01.880 So it's a very good idea. 1296 01:13:02.439 --> 01:13:04.960 If you live anywhere and you can afford to build 1297 01:13:05.000 --> 01:13:07.600 your own home, Please do it build for when I 1298 01:13:07.640 --> 01:13:10.039 mean built for yourself. So I say, okay, I'm not 1299 01:13:10.079 --> 01:13:12.399 paying rent. I don't know about building it about the 1300 01:13:12.439 --> 01:13:16.199 build for investment. That's professional. You have to build a 1301 01:13:16.279 --> 01:13:19.600 GOTO location. But if you're building where you will live, 1302 01:13:19.720 --> 01:13:21.199 you can't go wrong with that because you're not going 1303 01:13:21.279 --> 01:13:25.560 to pay rent. So on your chart you've converted income 1304 01:13:26.600 --> 01:13:32.079 to passive or income to reduction in not discussion. Expect 1305 01:13:32.119 --> 01:13:33.720 that's what you get when you build your own house. 1306 01:13:34.079 --> 01:13:36.159 So it's a very good idea if you can afford it. 1307 01:13:36.279 --> 01:13:39.039 Cause you go thanks to that question. Yeah, let me 1308 01:13:39.079 --> 01:13:42.319 get abd Allah that he will rob you. 1309 01:13:43.479 --> 01:13:45.039 We're not gonna I. 1310 01:13:47.039 --> 01:13:51.199 I thank you very much, Big. 1311 01:13:52.960 --> 01:13:56.199 It came at the very. 1312 01:13:57.159 --> 01:14:03.319 Time of need. I have a question with regards to myself. 1313 01:14:04.960 --> 01:14:09.079 I'm a businessman, and the kind of business I do 1314 01:14:09.239 --> 01:14:11.760 is kind of an informat system I do. 1315 01:14:12.399 --> 01:14:15.479 I'm a BIDC guy, but in the infoma. 1316 01:14:17.680 --> 01:14:19.840 So making money from our only end is not a 1317 01:14:19.920 --> 01:14:22.000 promise at end of the at the end of the month, 1318 01:14:22.079 --> 01:14:27.359 you can see this is a projected income, something that comes. 1319 01:14:28.640 --> 01:14:31.439 I don't understand I'm starting where where I'm trying to 1320 01:14:31.479 --> 01:14:42.199 come from you. I said, I'm a BIDC guy, but not. 1321 01:14:42.279 --> 01:14:44.319 Be I'm not actually like that. 1322 01:14:44.720 --> 01:14:45.640 I hear you. I hear. 1323 01:14:47.039 --> 01:14:47.239 So. 1324 01:14:47.359 --> 01:14:50.479 Our income is kind of predicted. 1325 01:14:51.600 --> 01:14:53.479 Yes, yes, it's own predicted. 1326 01:14:53.600 --> 01:14:56.760 So for me to say, with the capture of let's 1327 01:14:56.760 --> 01:15:01.039 see to crimlionaire two hundred thousand, they're appropriate at end 1328 01:15:01.039 --> 01:15:01.279 of the. 1329 01:15:01.319 --> 01:15:02.319 Month is not a promise. 1330 01:15:03.039 --> 01:15:04.800 I see, I say, I gotta come. 1331 01:15:04.760 --> 01:15:06.800 From so so. 1332 01:15:06.800 --> 01:15:10.399 So in this case, what what would be your argument? 1333 01:15:10.479 --> 01:15:14.760 Because I really I am in need of a s. 1334 01:15:16.640 --> 01:15:19.760 Okay, I'm like what I think. I get you a question, say, 1335 01:15:19.920 --> 01:15:22.359 very very great question. So what a foot about folks 1336 01:15:22.399 --> 01:15:25.880 that don't end months by month? Sometimes I end one million, 1337 01:15:26.199 --> 01:15:30.720 then ten thousand thousand. It's irregular. Okay, I get your point. 1338 01:15:30.760 --> 01:15:35.159 Asked a great question. So what we need to do. 1339 01:15:35.279 --> 01:15:38.079 I'd like to say we can use two methods. We 1340 01:15:38.119 --> 01:15:41.319 can use a percentage method, or we can do a 1341 01:15:41.520 --> 01:15:47.600 salary method. Percentage method or salary method. Percentage means you 1342 01:15:47.760 --> 01:15:51.760 adopt a percentage and say any to anything that I make, 1343 01:15:52.600 --> 01:15:56.239 I am going to save ten percent of of it. 1344 01:15:57.159 --> 01:16:01.600 So if I make one million, I say, I save that. 1345 01:16:02.319 --> 01:16:05.680 End of story. You got what I'm saying. So whatever, 1346 01:16:05.800 --> 01:16:09.640 once I make yeah, once I make one percent, once 1347 01:16:09.680 --> 01:16:11.520 I make ten thousand, I do a percentage and I 1348 01:16:11.560 --> 01:16:14.600 say it into my soul. I take that money, I 1349 01:16:14.640 --> 01:16:17.439 take that savings, then I take it as my income. 1350 01:16:18.279 --> 01:16:19.079 That's number one. 1351 01:16:19.319 --> 01:16:22.159 Number two to say, I want to basically take all 1352 01:16:22.199 --> 01:16:27.560 that money right and pay myself a salary, which means 1353 01:16:27.600 --> 01:16:30.319 if I make one million, I pay myself one hundred 1354 01:16:30.479 --> 01:16:32.840 and nine salary, then one million goes to If just 1355 01:16:32.880 --> 01:16:36.680 putting an account, I only take one hundred thousand next month, 1356 01:16:36.720 --> 01:16:39.359 I take one hundred thousand. If I don't have any money, 1357 01:16:39.359 --> 01:16:40.720 I don't pay myself a salary. 1358 01:16:41.039 --> 01:16:41.880 So I'm making that. 1359 01:16:41.960 --> 01:16:44.520 I'm only going to end that salary. If it's for 1360 01:16:44.640 --> 01:16:47.640 four months, so be it. But I have a salary. 1361 01:16:47.800 --> 01:16:50.800 But the best applies to combine both of them. You 1362 01:16:50.840 --> 01:16:54.520 can say, okay, I'm going to pay myself a salary 1363 01:16:54.560 --> 01:16:56.840 of ex amount, and it's going to be. 1364 01:16:56.880 --> 01:16:59.640 Funded from ten percent of my endings. 1365 01:17:00.279 --> 01:17:02.920 So every time you make money, any time money touches 1366 01:17:02.960 --> 01:17:05.680 your hand, you take that cent percent of twenty percent 1367 01:17:06.000 --> 01:17:08.680 and you pay to your fund. The rest goes back 1368 01:17:08.680 --> 01:17:12.680 to your business. That's your salary. You plan with that salary, 1369 01:17:12.680 --> 01:17:15.079 So that's a salary Uniza. Is you're active or pative, 1370 01:17:15.520 --> 01:17:18.119 then you don't invest it. The other money is the 1371 01:17:18.119 --> 01:17:20.159 money that you're going to keep in your for your business. 1372 01:17:20.159 --> 01:17:22.520 You know what I'm saying, in your business to grow 1373 01:17:22.560 --> 01:17:25.479 your business. If you don't pay alself a salary, you're 1374 01:17:25.520 --> 01:17:29.079 not separated the business for yourself. And then one day 1375 01:17:29.119 --> 01:17:31.119 you're gonna need to buy a house, and then you 1376 01:17:31.119 --> 01:17:32.520 will have that money to buy the house. 1377 01:17:33.119 --> 01:17:34.119 So it's still what I'm saying. 1378 01:17:34.199 --> 01:17:36.640 Yeah, so you need to separate that come and then 1379 01:17:36.680 --> 01:17:38.800 do it that way, and that would help it. That's 1380 01:17:38.800 --> 01:17:44.520 what That's what I recommend that you try to do. 1381 01:17:42.880 --> 01:17:47.439 You and I will definitely keep you posted on the progress. 1382 01:17:47.720 --> 01:17:49.439 I would like that let me know how it goes 1383 01:17:49.479 --> 01:17:51.319 if you are meant it, because like I said, yeah, 1384 01:17:51.479 --> 01:17:53.000 let me know how we goes, and I we're gonna 1385 01:17:53.000 --> 01:17:58.600 see what we're gonna do. Yeah, all right, we are 1386 01:17:58.640 --> 01:18:01.920 must even gotten into the generally your financial plan. 1387 01:18:02.079 --> 01:18:04.239 Then we repeat you guys, what I want you guys. 1388 01:18:04.000 --> 01:18:05.800 To do for January. 1389 01:18:05.920 --> 01:18:07.319 Number one, Please write it down. 1390 01:18:07.359 --> 01:18:12.279 Number one. You want to track all your expenses. You 1391 01:18:12.319 --> 01:18:17.000 want to track all your expenses. You want to track 1392 01:18:17.319 --> 01:18:20.119 every single expense that you make. You want to track it. 1393 01:18:20.239 --> 01:18:26.399 That's number one. Number two, you want to categorize your expenses. 1394 01:18:27.640 --> 01:18:30.640 You want to categorize your expenses. So when you track 1395 01:18:30.680 --> 01:18:33.479 your expenses, you then be able to category. You spend 1396 01:18:33.520 --> 01:18:39.119 money on engine, oil, patrol, car ward, that's all KI expensive. 1397 01:18:39.359 --> 01:18:43.279 Categorizing mask KI expenses. Number three, you want to allocate 1398 01:18:43.640 --> 01:18:48.119 and amount nine a month to each category. So you 1399 01:18:48.159 --> 01:18:54.560 track your categorize, you allocate. That's a budget. So when 1400 01:18:54.600 --> 01:18:57.920 you look at your budget, you don't ask yourself is 1401 01:18:57.960 --> 01:18:58.880 this to realistic? 1402 01:18:59.039 --> 01:18:59.800 Don't forget your. 1403 01:18:59.680 --> 01:19:02.800 Din, your expenses and also your income. Same thing with 1404 01:19:02.880 --> 01:19:05.680 your income. What sort of income are going to make 1405 01:19:05.720 --> 01:19:08.560 it into the five? Is it from your salary? Is 1406 01:19:08.560 --> 01:19:12.119 it from your passive? Is it from your investment? We 1407 01:19:12.239 --> 01:19:14.920 had the guy head that we talked about. His promise 1408 01:19:15.039 --> 01:19:18.079 is income what's not enough. So your budget for this 1409 01:19:18.119 --> 01:19:21.640 community is to grow your income. You want to grow 1410 01:19:21.680 --> 01:19:24.479 that income either make it to turn into jobs or 1411 01:19:24.600 --> 01:19:27.560 go to act your company for a raise, or investing 1412 01:19:27.640 --> 01:19:30.279 more getting more money to investment income. You've got to 1413 01:19:30.359 --> 01:19:33.560 also bullish for your income, so you bullet your income. 1414 01:19:33.960 --> 01:19:38.640 You burnt your expenses, You track, you categorize, you allocate, 1415 01:19:39.079 --> 01:19:43.680 then you keep on adjusting. If they change something, you 1416 01:19:43.760 --> 01:19:49.079 also adjust. That's what if to change something you adjusting 1417 01:19:49.159 --> 01:19:52.479 means that in the change fuel becomes more expensive, then 1418 01:19:52.520 --> 01:19:56.479 you also adjust. Right, That's what I'm asking to do. 1419 01:19:56.560 --> 01:19:58.600 That's what you want to do this year. I will 1420 01:19:58.680 --> 01:20:01.560 try to do as much as you can on that. 1421 01:20:02.199 --> 01:20:05.039 A lots of questions. So were the big ee was 1422 01:20:05.319 --> 01:20:13.000 my biggie biggie? Peace ahead? Hello? Can you believe in you? 1423 01:20:13.000 --> 01:20:13.359 Go ahead? 1424 01:20:15.119 --> 01:20:15.319 Yeah? 1425 01:20:15.680 --> 01:20:18.880 First of all, thank you so much for the investments, 1426 01:20:19.840 --> 01:20:21.840 in fact impartings for so much knowledge. 1427 01:20:22.199 --> 01:20:22.920 Thank you so much. 1428 01:20:23.039 --> 01:20:26.279 Now this is my question. I have a couple of questions, 1429 01:20:26.359 --> 01:20:29.279 but I'm trying to just see how I can streamlize it. 1430 01:20:29.720 --> 01:20:33.880 One of it is for where do you categorize. 1431 01:20:34.680 --> 01:20:39.399 Donations or offerings or something in religious or something? 1432 01:20:39.439 --> 01:20:40.800 How is he an expense? 1433 01:20:40.840 --> 01:20:41.600 It is an expense. 1434 01:20:41.920 --> 01:20:42.960 Where do you categorize? 1435 01:20:42.960 --> 01:20:47.960 It's your's you, it's your columns, it's your call. If 1436 01:20:48.000 --> 01:20:50.319 you say the giving tights, it's. 1437 01:20:50.199 --> 01:20:50.800 In the Bible. 1438 01:20:51.239 --> 01:20:53.960 But this mine the book of finance. So if you 1439 01:20:54.119 --> 01:20:57.319 say that giving tights is a non discussion experense and 1440 01:20:57.439 --> 01:20:59.039 that's what you're believe in, then do it. 1441 01:20:59.239 --> 01:20:59.640 Then do it. 1442 01:21:00.560 --> 01:21:04.399 So if you decide what is discretionary, I'm a discretionary 1443 01:21:04.479 --> 01:21:06.079 you would decide if you say this, then you do 1444 01:21:06.159 --> 01:21:06.560 it that way. 1445 01:21:08.520 --> 01:21:09.840 Okay, okay, thanks for that. 1446 01:21:09.960 --> 01:21:14.239 And secondly, for situations where were before maybe changing government, 1447 01:21:15.119 --> 01:21:17.239 you actually veiled to your aiming so much because you 1448 01:21:17.279 --> 01:21:20.000 were saving and during an investment, what was sudden another 1449 01:21:20.039 --> 01:21:23.479 you change your government, you notice the way you are actually. 1450 01:21:23.279 --> 01:21:25.560 In how do you actually come up from that. 1451 01:21:27.640 --> 01:21:28.880 So much before? 1452 01:21:28.960 --> 01:21:31.479 Now now it's looking as if there's actually. 1453 01:21:31.239 --> 01:21:36.199 Nothing become inflation or work specific yes. 1454 01:21:36.399 --> 01:21:39.720 Completion, yes, and when you aim was so much of 1455 01:21:39.960 --> 01:21:41.600 value and it's no longer. 1456 01:21:41.760 --> 01:21:46.319 And even the investments you did actually nowhere. 1457 01:21:47.239 --> 01:21:47.439 Yeah. 1458 01:21:48.000 --> 01:21:49.119 And that's that's my way. 1459 01:21:49.319 --> 01:21:51.119 That's why we have that's what we're doing. 1460 01:21:51.159 --> 01:21:54.000 We're doing today because every plant like that, there's a 1461 01:21:54.039 --> 01:22:01.960 there's a philosopher cause Mike Tyson, Mike Titans. Mike Tisans 1462 01:22:02.000 --> 01:22:05.479 said every plan, everybody has a plan until they are 1463 01:22:05.600 --> 01:22:08.079 punched in the mouth. So we all have plans, we 1464 01:22:08.159 --> 01:22:10.479 will all want to invest, but then the government comes. 1465 01:22:10.560 --> 01:22:14.079 Like fell I said, government has a second tier everything 1466 01:22:14.199 --> 01:22:16.319 tier two pieces. So what you want to do is 1467 01:22:16.399 --> 01:22:19.600 to have a budget or a plan so you can 1468 01:22:19.880 --> 01:22:25.159 you can absorb on certainty and relate in a formal way. 1469 01:22:25.319 --> 01:22:27.760 That's what we're doing today. So what I'm saying is 1470 01:22:27.840 --> 01:22:31.479 this right. If you have plan to invest and you 1471 01:22:31.600 --> 01:22:34.640 investment are rubbish? What do you think happens on your budget? 1472 01:22:34.800 --> 01:22:37.439 If your income has gone down? So you want to 1473 01:22:37.520 --> 01:22:41.359 ask yourself what expense items do I take off or 1474 01:22:41.479 --> 01:22:46.359 what income items do I bring in to balance that budget. Remember, 1475 01:22:46.479 --> 01:22:48.760 you can have a deficit budget. We miss. 1476 01:22:48.840 --> 01:22:52.000 You can borrow money. You can borrow money. 1477 01:22:52.319 --> 01:22:54.279 But if you are borrowing money, let I want to 1478 01:22:54.359 --> 01:22:58.000 go to your non discretionary or to your passive income. 1479 01:22:58.279 --> 01:23:02.439 Because if you borrow money, for a discussion, expert, you 1480 01:23:02.520 --> 01:23:06.479 are digging the whole that you do not get out of. Again, 1481 01:23:06.800 --> 01:23:11.399 borrow money, borrow money that would create things that will 1482 01:23:11.479 --> 01:23:14.479 create income for you. So if you are borrowing, you 1483 01:23:14.640 --> 01:23:17.600 want to invest in an income charging asset, not to 1484 01:23:18.279 --> 01:23:21.119 eat use your income to eat. 1485 01:23:21.560 --> 01:23:23.760 If you are borrowing, you are borrowing. 1486 01:23:23.520 --> 01:23:26.079 Because you want to borrow and invest in an income 1487 01:23:26.439 --> 01:23:29.000 generated asset that will generate income for you to build 1488 01:23:29.079 --> 01:23:32.239 that loan but your questions are the reason why we're 1489 01:23:32.359 --> 01:23:34.880 here is because every plan we have disappears, it goes 1490 01:23:35.000 --> 01:23:37.720 up in influenced. So we want to try at least 1491 01:23:37.760 --> 01:23:42.199 to have a systematic way to manage risk, manage change. 1492 01:23:42.000 --> 01:23:44.600 And to see what we're doing right and what we're 1493 01:23:44.680 --> 01:23:48.039 doing wrong. Does that help a bit? 1494 01:23:49.159 --> 01:23:54.439 I think I loved to victim. I yeah, bigger, Okay, 1495 01:23:54.439 --> 01:23:59.640 is that what you want to ask? I appreciate you, bigure, 1496 01:24:00.079 --> 01:24:00.560 we get up. 1497 01:24:03.159 --> 01:24:05.079 Yeah, thanks, cal look, thanks for what you do. 1498 01:24:06.279 --> 01:24:09.319 My financial education has no an in large PATTINU. 1499 01:24:09.479 --> 01:24:11.520 So never tell what you do for granted, thank you. 1500 01:24:12.840 --> 01:24:15.399 I'm keep be saying, do you take something. 1501 01:24:15.199 --> 01:24:17.840 About emergency food should be cash or near cash? 1502 01:24:18.039 --> 01:24:22.199 Yes, it's something that's so while you say who puts 1503 01:24:22.239 --> 01:24:22.600 in your. 1504 01:24:22.560 --> 01:24:25.520 Mouth is set in your mounts three or six times 1505 01:24:25.960 --> 01:24:27.560 for what you're saying, any savings, I. 1506 01:24:27.600 --> 01:24:28.600 Can't really surprise. 1507 01:24:30.119 --> 01:24:33.640 Yes, So when you do your let's let's go back 1508 01:24:34.000 --> 01:24:36.720 when we had our our one to five five charts, 1509 01:24:36.800 --> 01:24:40.119 we said, your emergency fund is covering what you call 1510 01:24:40.359 --> 01:24:46.479 your non discretionary expenses. So yes, so that's going to 1511 01:24:46.520 --> 01:24:50.680 be your brandt your food on that right, So what 1512 01:24:50.880 --> 01:24:51.880 we're let me meet this guy. 1513 01:24:52.800 --> 01:24:54.119 So what we're saying is that. 1514 01:24:54.479 --> 01:24:59.359 Your your emergency fund should cover back three to six 1515 01:24:59.479 --> 01:25:02.960 months of what advice is done non discussion your buckets. 1516 01:25:03.560 --> 01:25:06.760 If that whole bucket comes to one million, then your 1517 01:25:06.840 --> 01:25:09.680 medenity fund should be tweeted to two to six million. 1518 01:25:10.079 --> 01:25:11.840 And I'm saying you don't have to wait until you 1519 01:25:11.920 --> 01:25:15.279 have six billion, but at least have one million there 1520 01:25:15.760 --> 01:25:19.000 before you start to invest. It's very very important. If 1521 01:25:19.039 --> 01:25:22.680 you can't have an relenity fund, you can't invest. I 1522 01:25:22.760 --> 01:25:24.920 say it again, if you don't have an amenity fund, 1523 01:25:25.399 --> 01:25:27.720 don't you need to jump to invest because what will 1524 01:25:27.800 --> 01:25:29.800 happen is that they're going to eat that relassy fund 1525 01:25:31.000 --> 01:25:34.920 to combat expenses. You should be in cash on the 1526 01:25:34.960 --> 01:25:37.399 air cash with mess. You don't take that fund and 1527 01:25:37.560 --> 01:25:42.479 buy stocks, it's going to be cash on the air cash. Yeah. 1528 01:25:43.960 --> 01:25:46.560 Details that help, Yeah, it does. 1529 01:25:46.960 --> 01:25:50.319 Grateful question your answer would you think on. 1530 01:25:51.960 --> 01:25:53.239 From the point of view. 1531 01:25:55.800 --> 01:26:01.119 You kind of based on Nigerians situation, we're not really 1532 01:26:01.279 --> 01:26:05.600 exposed to to buy a long time, so many people 1533 01:26:05.640 --> 01:26:10.239 are kind of kept at first because it carry back. 1534 01:26:10.920 --> 01:26:11.880 Also from the points of. 1535 01:26:12.000 --> 01:26:14.000 Your is it is it? 1536 01:26:14.479 --> 01:26:16.720 More so? 1537 01:26:16.800 --> 01:26:18.279 I don't know what you take it like. 1538 01:26:20.399 --> 01:26:26.479 A for property, right, let's talk about nineteen property. I 1539 01:26:26.479 --> 01:26:29.439 don't think Nigeria has the mortgages. There are loans to 1540 01:26:29.560 --> 01:26:32.880 buy a house. But in Nigeria after the mortgage, mortgage 1541 01:26:32.880 --> 01:26:36.279 is supposed to be long term. You can do more 1542 01:26:36.359 --> 01:26:38.840 things to mortgage and Nageria house. Let's just says things 1543 01:26:38.880 --> 01:26:42.520 that would only have more in the ninety But if 1544 01:26:42.560 --> 01:26:46.279 you build a home, it's an investment. If you live 1545 01:26:46.319 --> 01:26:49.439 in that home, then it's never going to be a 1546 01:26:49.479 --> 01:26:51.800 with money because what you are doing is that you 1547 01:26:51.920 --> 01:26:55.680 are reducing your expenses on red So what you have 1548 01:26:55.840 --> 01:26:59.119 does you're taking your income, your active income and you 1549 01:26:59.199 --> 01:27:01.600 have competed passing the income by building your. 1550 01:27:01.520 --> 01:27:03.479 House because you are living in that house. 1551 01:27:04.359 --> 01:27:07.279 Right, So it's always going to be a positive investment 1552 01:27:07.399 --> 01:27:10.760 if you live in that house. Where it becomes complicated 1553 01:27:10.760 --> 01:27:13.720 as if you're building a house to rent out for somebody. 1554 01:27:14.319 --> 01:27:16.760 Rental yields are very very low. 1555 01:27:17.720 --> 01:27:19.199 If you what is what is yield? 1556 01:27:19.399 --> 01:27:23.319 Yield is what you get divided by what you spend. 1557 01:27:23.560 --> 01:27:26.960 So if I build a house in Lucky, I buy 1558 01:27:27.039 --> 01:27:30.479 the land for one hundred million, I build a house 1559 01:27:30.600 --> 01:27:34.159 for fifty million, So my total cost is one hundred 1560 01:27:34.159 --> 01:27:37.039 and fifty million, and I get from the rent of 1561 01:27:37.119 --> 01:27:40.239 that guy ten million. What is ten developed? A one 1562 01:27:40.319 --> 01:27:41.359 untien million? Who can do that? 1563 01:27:41.800 --> 01:27:46.279 Ten? What's ten develo? One apt million? Victor divided? 1564 01:27:46.399 --> 01:27:48.199 Please? Ten development atwo million? What's that? 1565 01:27:49.880 --> 01:27:51.000 Which sharp out to us? 1566 01:27:53.039 --> 01:28:05.039 Victor? Was the answer? Victor? So yeah? Fifty no, no, 1567 01:28:06.039 --> 01:28:10.760 no no no ten rental annual income annual rental ten 1568 01:28:11.720 --> 01:28:14.119 then more than fifty million is worth? 1569 01:28:15.319 --> 01:28:18.399 Tell that is for fifteen years? 1570 01:28:18.520 --> 01:28:20.079 No no, no, yeah, no no no. 1571 01:28:20.319 --> 01:28:24.399 I'm saying for one year. You make income for one year. 1572 01:28:24.479 --> 01:28:27.359 The rector for one year is two million. Divide that 1573 01:28:27.560 --> 01:28:29.680 ten by the cost of the house one fifty. What 1574 01:28:29.760 --> 01:28:30.680 do you get? What's the answer? 1575 01:28:33.239 --> 01:28:33.479 Six? 1576 01:28:33.920 --> 01:28:35.000 So zero point six? 1577 01:28:35.359 --> 01:28:38.479 Are you sure? Tell you a million? I will do 1578 01:28:38.560 --> 01:28:39.720 myself for zero? 1579 01:28:41.000 --> 01:28:44.119 Okay? So multiplier zero point zero six times one hundred? 1580 01:28:44.199 --> 01:28:44.680 What do you get? 1581 01:28:48.199 --> 01:28:48.760 What do you get? 1582 01:28:50.800 --> 01:28:50.920 Six? 1583 01:28:51.479 --> 01:28:51.720 Six? 1584 01:28:52.199 --> 01:28:55.520 So that's that's the rental income, that's the rental deal 1585 01:28:55.640 --> 01:28:56.319 for that year. 1586 01:28:56.960 --> 01:28:58.000 It's very very low. 1587 01:28:58.319 --> 01:29:00.319 So the point that means that when you has to 1588 01:29:00.359 --> 01:29:04.319 build a house, you're getting very very low rental yield. 1589 01:29:05.079 --> 01:29:08.960 The property will appreciate in price. The property will become 1590 01:29:09.159 --> 01:29:13.079 two billion, but the rental yield is very very small. 1591 01:29:13.439 --> 01:29:16.359 If you put that money into a bank or whatever, 1592 01:29:16.479 --> 01:29:18.560 you make more money. You get what I'm side to 1593 01:29:18.960 --> 01:29:21.319 see what I'm going to with that. You make more 1594 01:29:21.359 --> 01:29:23.880 money than you so so if you live in the 1595 01:29:23.920 --> 01:29:27.680 house yourself, right, you make more money. But if you 1596 01:29:27.760 --> 01:29:32.720 are simply what's the word trand to invest in property, 1597 01:29:32.760 --> 01:29:34.880 I'm saying to be very careful, that's the point I'm 1598 01:29:34.920 --> 01:29:37.840 making because you might think you have an asset, but 1599 01:29:37.960 --> 01:29:40.520 it's reliability because you're not making you invest in the 1600 01:29:40.560 --> 01:29:44.439 whole nied on naira and you're ending six percent. If 1601 01:29:44.479 --> 01:29:47.079 you put that cell on the bank, you end tenty percent. 1602 01:29:48.079 --> 01:29:50.520 So be careful to do that capustion. And it's a 1603 01:29:50.560 --> 01:29:53.680 relative here with that campush on property exactly what you're 1604 01:29:53.720 --> 01:29:55.920 in before you invest. But if you're donn live in 1605 01:29:55.960 --> 01:29:57.520 the house, all coms up for you. 1606 01:29:58.720 --> 01:30:03.560 Right, yeah, thank you so good? Perfect equal relators. What's 1607 01:30:03.600 --> 01:30:04.880 in your mindsel? How are you doing. 1608 01:30:08.239 --> 01:30:09.119 There? Relatives? 1609 01:30:10.159 --> 01:30:11.800 Yeah, believe it's. 1610 01:30:14.079 --> 01:30:15.000 Doing a very good job. 1611 01:30:15.920 --> 01:30:17.199 Thanks for being so. 1612 01:30:18.119 --> 01:30:21.960 My question is I think the last speaker I answered 1613 01:30:22.039 --> 01:30:24.359 one of my questions because you know I have a 1614 01:30:24.439 --> 01:30:25.239 property broker. 1615 01:30:25.880 --> 01:30:29.399 Our income is not steady, you know, it's it's fluctuating. 1616 01:30:29.399 --> 01:30:30.479 It comes in taminently. 1617 01:30:30.760 --> 01:30:34.800 It's hard for you to put maybe like five millions. 1618 01:30:34.520 --> 01:30:37.039 Together at the time, but you can get it. 1619 01:30:37.279 --> 01:30:40.279 You can get more than five million over a period 1620 01:30:40.359 --> 01:30:41.640 of maybe like three. 1621 01:30:41.600 --> 01:30:45.039 Months, six months one things like that. So for me, 1622 01:30:45.319 --> 01:30:48.840 what I do is that I stay in the suburb of. 1623 01:30:49.000 --> 01:30:51.960 Leaders, I stay at actually stay included. You're going to 1624 01:30:52.000 --> 01:30:55.079 do has a low the stand of living and the 1625 01:30:55.199 --> 01:30:58.079 cost of living is low. You haven't you have a 1626 01:30:58.159 --> 01:31:00.239 good stand of living there, but the cost is law 1627 01:31:00.439 --> 01:31:04.479 so which enable me to pull my fund into other investment, 1628 01:31:04.640 --> 01:31:05.600 mostly properties. 1629 01:31:06.079 --> 01:31:09.279 So when I get this, this proceeds so. 1630 01:31:09.439 --> 01:31:13.600 Immediately I just the issue of my emergency funds. I 1631 01:31:14.560 --> 01:31:17.920 the moment I remove my feeding, my rent out, defeats 1632 01:31:18.000 --> 01:31:19.279 for my children and things like that. 1633 01:31:19.880 --> 01:31:22.279 I don't really have much savings like that. I hardly 1634 01:31:22.359 --> 01:31:25.439 have savies of like maybe on Drea Ki or what 1635 01:31:25.560 --> 01:31:25.920 we think. 1636 01:31:26.720 --> 01:31:28.840 What I do mostly is that the wmen I get 1637 01:31:28.880 --> 01:31:30.960 my proceed from my business. 1638 01:31:30.960 --> 01:31:32.920 I put it into the properties. 1639 01:31:33.239 --> 01:31:35.880 But that's exactly what you said earlier. That's the yield 1640 01:31:36.000 --> 01:31:37.279 for n is. 1641 01:31:37.399 --> 01:31:41.399 Very very low because my first project cost me close 1642 01:31:41.399 --> 01:31:44.920 to like eighty million, and I'm getting the protein for 1643 01:31:45.079 --> 01:31:47.399 rents day is like maybe. 1644 01:31:47.279 --> 01:31:48.920 Like self fifty thousand paranor. 1645 01:31:49.479 --> 01:31:52.039 But and you still have to consider the cost of 1646 01:31:52.199 --> 01:31:55.800 maintaining repainting the property like once in two or thirty 1647 01:31:55.880 --> 01:31:57.399 years in some small things. 1648 01:31:57.439 --> 01:32:01.439 And so basically what I'm just saying the essays is. 1649 01:32:01.439 --> 01:32:05.880 That for properties is cantatasive to face. 1650 01:32:06.439 --> 01:32:09.920 So the second project costly close to like tenty five million, 1651 01:32:10.279 --> 01:32:12.800 and I'm not sure I will get to that. I 1652 01:32:12.800 --> 01:32:14.760 will get more at one point five or one point 1653 01:32:15.399 --> 01:32:16.439 six million for red. 1654 01:32:16.920 --> 01:32:18.760 So what I want to react is that of what 1655 01:32:19.000 --> 01:32:22.920 is after? Is there any other investment. 1656 01:32:22.600 --> 01:32:25.039 I can put my mind to that can. 1657 01:32:25.039 --> 01:32:26.720 Give me better proceeds? What? 1658 01:32:27.119 --> 01:32:27.159 What? 1659 01:32:27.359 --> 01:32:27.399 What? 1660 01:32:27.520 --> 01:32:27.560 What? 1661 01:32:27.680 --> 01:32:27.720 What? 1662 01:32:27.840 --> 01:32:30.319 What? I'm there yet when I want to talking about where, 1663 01:32:31.119 --> 01:32:33.760 I want to talk about just the process, the structure. 1664 01:32:34.560 --> 01:32:37.640 Next Sunday, olive Next Sunday, we'll talk about where you 1665 01:32:37.680 --> 01:32:40.399 can invest they want to do passively? Where should you 1666 01:32:40.600 --> 01:32:42.039 do that passively? 1667 01:32:42.039 --> 01:32:43.880 Because I get a question, is it's fine? 1668 01:32:44.439 --> 01:32:46.720 But for now we're trying to talk to people to 1669 01:32:46.800 --> 01:32:51.439 say we're in the same party before how approtunity five? 1670 01:32:51.520 --> 01:32:52.960 And I'm saying the first thing you want to do 1671 01:32:53.119 --> 01:32:53.720 do with you. 1672 01:32:55.520 --> 01:32:56.279 That's shared. 1673 01:32:56.279 --> 01:32:58.399 If you look at the I've shared. 1674 01:32:58.680 --> 01:33:03.920 What question should I yourself for your income, yours, your 1675 01:33:04.000 --> 01:33:07.640 assets and your networth? If you follow, I also ask 1676 01:33:07.720 --> 01:33:10.840 a question there on your retirements. So we want to 1677 01:33:10.920 --> 01:33:14.079 do that first. Then once we get through that, we'll 1678 01:33:14.119 --> 01:33:16.439 then come back and say, okay, if we have to 1679 01:33:16.520 --> 01:33:20.960 invest during the five what sectors? How shouldn't ask a location? 1680 01:33:21.600 --> 01:33:23.399 So then invest? But the person that I want to 1681 01:33:23.600 --> 01:33:26.960 do and it depends what you do. Number one, list 1682 01:33:27.039 --> 01:33:28.000 out your expenses. 1683 01:33:28.520 --> 01:33:29.199 Number two. 1684 01:33:31.840 --> 01:33:36.920 Categorize, and number three allocate an amount to each envelop 1685 01:33:37.000 --> 01:33:38.840 and say this how much I'm going to spend and 1686 01:33:38.960 --> 01:33:42.119 they want to track that down the line. Right if 1687 01:33:42.159 --> 01:33:44.319 you go to number four. In number four, I'm talking 1688 01:33:44.359 --> 01:33:47.880 about your retirement plan. While I'm bring a retirement plan 1689 01:33:48.000 --> 01:33:51.960 as the first plan, your most important financial objective is 1690 01:33:52.079 --> 01:33:55.319 your retirement is not to build a house, it's not 1691 01:33:55.399 --> 01:34:00.399 to invest, it's your retirement. Why because your retirement time 1692 01:34:00.479 --> 01:34:04.760 pound you only have a certain amount of periods you 1693 01:34:04.880 --> 01:34:05.680 can compound. 1694 01:34:05.800 --> 01:34:08.720 Let me explain, as Einstein said. 1695 01:34:09.199 --> 01:34:13.840 Compoundings easy one of the world. Compounding works with time. 1696 01:34:14.760 --> 01:34:17.000 Compounding works with time, I'm going to show something in 1697 01:34:17.039 --> 01:34:20.479 that book as well. If you miss out on compounding, 1698 01:34:20.880 --> 01:34:25.319 you've missed out on timing. So if you wait, if 1699 01:34:25.359 --> 01:34:28.399 you wait and say I'm going to invest tomorrow, you've 1700 01:34:28.560 --> 01:34:31.920 lost one extra day of compounding. What this means is 1701 01:34:32.039 --> 01:34:35.159 that you must start to invest, Ellie, and then you 1702 01:34:35.319 --> 01:34:38.479 are the best place to invest is in your retirement 1703 01:34:38.920 --> 01:34:44.720 savings account. Why it grows tax free, it compounds, It 1704 01:34:44.960 --> 01:34:49.800 grows tax free. It compounds. Yes, so you want to 1705 01:34:50.079 --> 01:34:52.960 basically start to make sure that you are investing. 1706 01:34:52.960 --> 01:34:54.399 According to. 1707 01:34:58.119 --> 01:35:00.720 Sooner and I'm sure a diag may get it from 1708 01:35:01.039 --> 01:35:04.319 from my book. Guys, let's I'm shaying on YouTube. I 1709 01:35:04.399 --> 01:35:08.279 will try to share it on Twitter as well. Guys, 1710 01:35:08.399 --> 01:35:12.159 don't sleep on an early investment. I will to share 1711 01:35:12.199 --> 01:35:15.479 this again from on on YouTube. 1712 01:35:15.560 --> 01:35:17.119 Is on YouTube. I wish it on Twitter. 1713 01:35:17.680 --> 01:35:23.159 Starting early is the most underrated investment advice. Start to 1714 01:35:23.279 --> 01:35:28.800 save for retirement today. Don't wait because it's compounds. So 1715 01:35:28.880 --> 01:35:31.760 if you go on Twitter, I've shared on that diagram 1716 01:35:31.920 --> 01:35:35.399 from my book you talk about starting early, you will 1717 01:35:35.479 --> 01:35:40.439 see it there. I want to explain that chat it 1718 01:35:40.640 --> 01:35:41.319 just a few. 1719 01:35:42.960 --> 01:35:43.279 Let's it. 1720 01:35:49.600 --> 01:35:50.159 Can you mute? 1721 01:35:50.199 --> 01:35:53.279 I think your mic has some back most honest. Okay, 1722 01:35:53.359 --> 01:35:55.039 So all right, so. 1723 01:35:55.119 --> 01:35:57.159 Guys, I've heard that chat and if you look at them, 1724 01:35:57.279 --> 01:35:59.279 just spend that chat to you guys real quick. Right, 1725 01:36:00.680 --> 01:36:03.560 if you have two brothers, we've got two brothers fights 1726 01:36:03.880 --> 01:36:07.680 and one brother is aged one brother same age, the 1727 01:36:08.119 --> 01:36:11.720 same age. But look at brother A. Look at brother B. 1728 01:36:12.479 --> 01:36:15.920 So brother A only stepped from the age twenty one. 1729 01:36:16.760 --> 01:36:21.159 He only invested for ten years. Only for ten years. 1730 01:36:21.560 --> 01:36:26.600 So he invested from two and two thousand, two years 1731 01:36:27.079 --> 01:36:30.279 and ten. He only invested two thousand for ten years. 1732 01:36:30.680 --> 01:36:34.439 That's all he did till he was fifty. He never 1733 01:36:34.720 --> 01:36:38.800 invested again. He only invested for ten years. Look at 1734 01:36:38.840 --> 01:36:45.920 his brother. His brother invested double years. Brother BE invested 1735 01:36:46.359 --> 01:36:52.439 for twenty years, but he started at the age thirty one. 1736 01:36:53.880 --> 01:36:55.960 But he invested for twenty years. 1737 01:36:57.279 --> 01:36:58.279 Who made more money? 1738 01:36:59.000 --> 01:36:59.920 The chart is right there. 1739 01:37:00.279 --> 01:37:02.199 Brother A made more money. 1740 01:37:02.560 --> 01:37:07.119 Why because he invested earlier. So the point is this, 1741 01:37:07.399 --> 01:37:13.640 if you invest earlier than a millionaire, you will make 1742 01:37:13.880 --> 01:37:18.359 more money I in return than the millionaire. It's not 1743 01:37:18.600 --> 01:37:22.640 how much cash the millionaire gets, but your rate of 1744 01:37:22.840 --> 01:37:27.119 return is going to be more than the millionaire. Because 1745 01:37:27.199 --> 01:37:31.680 when we can't collate interest. We use compounding and compoundsive 1746 01:37:31.800 --> 01:37:34.840 function of time. So if you look at brother a, 1747 01:37:35.079 --> 01:37:39.479 I'm gonna be Brada started at brott a twenty one, 1748 01:37:40.760 --> 01:37:42.880 he only invested for ten years. 1749 01:37:42.920 --> 01:37:44.119 He didn't invest again. 1750 01:37:44.960 --> 01:37:47.720 His brother invested from the age thirty one, so he 1751 01:37:47.840 --> 01:37:51.520 lost ten years and he invested double the amount that 1752 01:37:51.640 --> 01:37:54.920 his brother did, but he still couldn't cash his brother. 1753 01:37:55.279 --> 01:37:58.439 The guy that starts to invest early will make more 1754 01:37:58.560 --> 01:38:01.680 money than the guy can't invest later. 1755 01:38:02.279 --> 01:38:04.079 So that's the only point I better. 1756 01:38:04.119 --> 01:38:07.039 If you say I'm not any money, I don't investment 1757 01:38:07.039 --> 01:38:09.560 in PFA, you are making a big mistake. If you 1758 01:38:09.720 --> 01:38:16.479 don't compound early, you will lose money. Literally, William what's mine? 1759 01:38:18.199 --> 01:38:20.680 Mister Williams, what's it? W yes? 1760 01:38:21.359 --> 01:38:24.199 Will thank you for the good this thing that you're 1761 01:38:24.239 --> 01:38:27.279 doing here, man, I tell you, am I trying to 1762 01:38:27.359 --> 01:38:28.840 have an a personal question, all right? 1763 01:38:29.079 --> 01:38:32.039 Or investment and saying this thing too. I have a 1764 01:38:32.119 --> 01:38:33.920 rental properly about to have it. 1765 01:38:33.960 --> 01:38:37.159 I'm currently doing it for base, but media has the 1766 01:38:37.199 --> 01:38:40.439 case maybe I'm almost at the finishing touches of this building, 1767 01:38:41.000 --> 01:38:44.439 but I leave that in Europe and the last few 1768 01:38:44.560 --> 01:38:46.680 months due to what is currently. 1769 01:38:46.359 --> 01:38:50.680 Going on the inflation in Nigeria, I'm kind of considering, should. 1770 01:38:50.439 --> 01:38:54.039 I think out a loan? I'm finishing this property, yeah, 1771 01:38:54.279 --> 01:38:56.119 oh should I just you know. 1772 01:38:56.960 --> 01:38:59.920 I don't know, I'm templating, but I looked at it. 1773 01:39:00.520 --> 01:39:01.359 I'm almost done. 1774 01:39:01.560 --> 01:39:05.439 I'm just at the finishing I can put Yeah. But 1775 01:39:06.159 --> 01:39:08.960 when I looked at what this property is going to 1776 01:39:09.079 --> 01:39:12.479 generate from me, me trying to get myself, got up 1777 01:39:13.119 --> 01:39:16.359 the loan. Yeah, with the interest rate, I'm really wondering 1778 01:39:16.560 --> 01:39:16.760 is it. 1779 01:39:16.800 --> 01:39:24.640 A good broadly like Broady Brody. But I have to 1780 01:39:24.720 --> 01:39:29.159 advise you loads and natually are very expensive. So the 1781 01:39:29.359 --> 01:39:33.119 rates of income on rental income compared to the interesting 1782 01:39:33.199 --> 01:39:35.680 pay on the loan, you would pay more money on 1783 01:39:35.800 --> 01:39:38.479 the loan rental income. What all the advice would you 1784 01:39:38.560 --> 01:39:43.119 to say? Get tennis ready, place out, I get tennis. 1785 01:39:43.159 --> 01:39:45.039 That say, if you want to rent this building, pay 1786 01:39:45.079 --> 01:39:47.479 me five days in advance and I'll lock your rent 1787 01:39:47.560 --> 01:39:50.479 at this at this price. So for instance, if you 1788 01:39:50.560 --> 01:39:52.680 come to me and you tell me I can pay 1789 01:39:52.920 --> 01:39:56.239 five years rent today for that house and the next 1790 01:39:56.319 --> 01:39:58.479 five years you know in please my rent, I'll pay 1791 01:39:59.399 --> 01:40:01.680 you use the money from the tenance and you complete 1792 01:40:01.680 --> 01:40:05.560 the building so you have, you have your home, and 1793 01:40:05.680 --> 01:40:09.600 you're not takingning banging, you do tenants financing, do off 1794 01:40:09.640 --> 01:40:11.520 the finance, let the tenants. I don't know how many 1795 01:40:11.560 --> 01:40:12.960 flat days, I don't know. I'll just give you a 1796 01:40:13.039 --> 01:40:15.079 general idea. I'm not so how many flats you have, 1797 01:40:15.760 --> 01:40:17.640 but to see if you can get tenants that we're 1798 01:40:17.720 --> 01:40:20.359 paying advance, use the money and build a house. Yes, 1799 01:40:20.439 --> 01:40:23.039 you you forgot your income, but you have the house 1800 01:40:24.039 --> 01:40:26.000 five years you get the rent. But if you wait 1801 01:40:26.079 --> 01:40:28.560 and keep waiting to get one into completing the house, 1802 01:40:28.600 --> 01:40:30.319 I'm not sure what the house is to start with, 1803 01:40:30.880 --> 01:40:32.960 but I think a bit better is to be more, 1804 01:40:33.279 --> 01:40:37.119 should you say, prudence than borrowing. What if you borrow 1805 01:40:37.239 --> 01:40:39.039 and you don't get tenants that you're owing the banks, 1806 01:40:39.039 --> 01:40:41.039 and then the banks own part of your house. So 1807 01:40:41.159 --> 01:40:43.000 I would be consider that tenate's financing for now? 1808 01:40:43.119 --> 01:40:43.319 Yeah? 1809 01:40:45.159 --> 01:40:47.319 Does that work all right? 1810 01:40:48.720 --> 01:40:50.520 I mean, but like I said, I don't, I don't live. 1811 01:40:53.199 --> 01:40:55.920 So who's who's going you're thinking? 1812 01:40:56.000 --> 01:41:00.600 Would? I was thinking, is a good idea? Think a 1813 01:41:00.640 --> 01:41:01.159 little loan? 1814 01:41:01.720 --> 01:41:03.600 I just I just I just I just want to 1815 01:41:03.640 --> 01:41:05.640 say it. I just answered, I said, the rates the 1816 01:41:05.760 --> 01:41:08.720 loan rates, and actually are high the rental income, so 1817 01:41:08.760 --> 01:41:12.000 if you borrow to complete the house, the tenancy income 1818 01:41:12.039 --> 01:41:14.600 will not pay back the loan. So I'm saying I 1819 01:41:14.800 --> 01:41:17.439 prefer you go to your tenants, go to it, get 1820 01:41:17.479 --> 01:41:21.119 a better real estates company and said rent the house 1821 01:41:21.199 --> 01:41:23.720 out or put it advat and say you want tenant 1822 01:41:23.720 --> 01:41:25.520 that will come and pay today for four or five 1823 01:41:25.640 --> 01:41:27.720 years and they can move. And then when you use 1824 01:41:27.760 --> 01:41:29.920 the money to build the house and move in, so 1825 01:41:30.039 --> 01:41:34.039 you complict the property. The property is yours. You use 1826 01:41:34.079 --> 01:41:37.359 TenneT financing at zero percent to build the house, it's yours. 1827 01:41:37.479 --> 01:41:39.960 After five years you can start taking the red arm. 1828 01:41:40.000 --> 01:41:42.159 I don't think you take I amost in the property. 1829 01:41:42.520 --> 01:41:44.399 If I if you give me numbers and seen the 1830 01:41:44.399 --> 01:41:46.920 pro I can give you more back. But generally this 1831 01:41:47.000 --> 01:41:48.760 is what I think you should do generally. 1832 01:41:49.039 --> 01:41:51.600 Really all right, thank you, I appreciate it. 1833 01:41:52.279 --> 01:41:57.520 Welcome Fami family. What's happening? 1834 01:42:04.239 --> 01:42:06.359 Yes, so this is more of a personal question. 1835 01:42:07.920 --> 01:42:12.000 So my dad's sold one of his property ATA and 1836 01:42:12.720 --> 01:42:16.640 my dad is not The trade is not about in 1837 01:42:16.720 --> 01:42:19.760 financial the traits. So the plan was to sell the 1838 01:42:19.840 --> 01:42:23.479 property and get something in the block of flats somewhere around, 1839 01:42:23.560 --> 01:42:27.920 go go to low daughter. You know, that's all shocky environment. 1840 01:42:28.399 --> 01:42:29.399 But we could not find. 1841 01:42:29.600 --> 01:42:33.840 This was some time around Jim and so with the 1842 01:42:34.000 --> 01:42:37.880 little bit of financial you know, exposure I have, so 1843 01:42:38.000 --> 01:42:40.199 he just kept the money in the band. So I 1844 01:42:40.319 --> 01:42:44.079 was just able to advise him to fix the money 1845 01:42:44.079 --> 01:42:47.560 in one of the colacial brands. And they fixed money 1846 01:42:47.600 --> 01:42:51.560 for fourteen percents, you know, for a year, and the 1847 01:42:51.960 --> 01:42:53.760 money would be ready by January. 1848 01:42:54.359 --> 01:42:56.159 So by Genuary would go. 1849 01:42:56.359 --> 01:42:58.039 Again in search of properties. 1850 01:42:58.119 --> 01:43:01.279 And if we cannot find and I'm also. 1851 01:43:01.159 --> 01:43:04.439 Thinking we should do it better investment instead of default 1852 01:43:04.479 --> 01:43:07.760 and persent to my question, is you mentioned technicfend like 1853 01:43:07.880 --> 01:43:09.880 you whys in this meeting? 1854 01:43:10.000 --> 01:43:13.239 As I was wondering, why is it bond that you 1855 01:43:13.319 --> 01:43:15.439 refer to bond or it's something else? 1856 01:43:17.439 --> 01:43:18.039 How much do you have? 1857 01:43:19.359 --> 01:43:22.560 How much the it's the money is around it? 1858 01:43:22.680 --> 01:43:23.079 A million? 1859 01:43:23.840 --> 01:43:24.159 Eighty? 1860 01:43:25.640 --> 01:43:26.760 Yeah, yeah, you can have port. 1861 01:43:26.960 --> 01:43:33.079 You could have put furs treasuryficates for fifty million any percent. 1862 01:43:33.520 --> 01:43:36.159 I mean I publish it every this gentleman shares it 1863 01:43:36.239 --> 01:43:37.720 with me, and I published just when. 1864 01:43:37.640 --> 01:43:38.399 I walks in, Now. 1865 01:43:39.880 --> 01:43:40.640 What's touse you? 1866 01:43:41.039 --> 01:43:44.920 I mean I can say it's treasure bills or tree certificates? 1867 01:43:44.960 --> 01:43:49.640 For one year. I would give you that. Monk would 1868 01:43:49.640 --> 01:43:52.039 be happy too. So so you know auctions, I publish it. 1869 01:43:53.239 --> 01:43:57.560 It's also my timeline. It's from my deferend I do 1870 01:43:57.760 --> 01:44:01.880 see it, but I just don't. Yeah, so what you 1871 01:44:01.960 --> 01:44:04.520 want to do so keeping away in the bank, keeping 1872 01:44:04.560 --> 01:44:08.159 that amount of the banker's losing money because because it 1873 01:44:08.560 --> 01:44:11.640 is percent. So I would go Monday morning to make 1874 01:44:11.680 --> 01:44:14.279 public banker or stop rocker and say I want to 1875 01:44:14.319 --> 01:44:18.399 invest in the Nigerian building or something like that. It 1876 01:44:18.479 --> 01:44:21.119 gave you much more. It's to sit there in Nigeria 1877 01:44:21.960 --> 01:44:23.920 and it will pay you much more than So I 1878 01:44:23.960 --> 01:44:25.920 would do that on Monday morning to go to the 1879 01:44:26.000 --> 01:44:28.479 broke our bank and say I want to say, write 1880 01:44:28.479 --> 01:44:35.039 it down commercial paper, aerated commercial paper or feeder GOMENTARII 1881 01:44:35.319 --> 01:44:37.800 ask for the when you buy the certificate. 1882 01:44:37.920 --> 01:44:39.119 If it's not if. 1883 01:44:39.039 --> 01:44:42.760 You're not buying it from the carimary market after for 1884 01:44:42.920 --> 01:44:47.439 a yield to maturity, write it down yield to maturity. 1885 01:44:47.520 --> 01:44:49.399 So if you go to the bank and they said, oh, 1886 01:44:49.399 --> 01:44:51.760 we don't have new tragedy bills or willn't have new. 1887 01:44:51.760 --> 01:44:53.880 Bonds, but we have some that's to sell. 1888 01:44:54.720 --> 01:44:57.039 Ignore the interest rate that you see on the face 1889 01:44:57.199 --> 01:45:00.119 they get the ten year interest rate. That's nonsense. I 1890 01:45:00.159 --> 01:45:03.439 don't pay yield to maturity of what they're selling to you, 1891 01:45:03.880 --> 01:45:07.560 or come to buy you from primary markets, right, or 1892 01:45:07.760 --> 01:45:09.800 just put it in the commercial depart. 1893 01:45:09.960 --> 01:45:11.119 Tell them what you need. 1894 01:45:11.359 --> 01:45:13.479 If you have that kind of money, they will give 1895 01:45:13.520 --> 01:45:15.319 you the answer. 1896 01:45:15.399 --> 01:45:16.439 You send me a d M. 1897 01:45:17.000 --> 01:45:20.000 That's a lot of time could do. All right, super, 1898 01:45:21.079 --> 01:45:27.159 all right, guys read? Are you read? Thank you for me? Red? 1899 01:45:27.399 --> 01:45:34.039 You've got the floor A red? Red is not ready? 1900 01:45:34.159 --> 01:45:41.039 Let's get right, go ahead? 1901 01:45:42.399 --> 01:45:48.359 Yeah, okay, I'm fine. So my question goes like this, 1902 01:45:48.960 --> 01:45:53.760 Now I work with the rest just like the equally. 1903 01:45:55.479 --> 01:45:56.119 Doesn't come. 1904 01:45:57.520 --> 01:46:02.479 That's stay studies. Just go why I'm thinking. 1905 01:46:02.520 --> 01:46:06.079 I have some money to burgle, like considering because I'm 1906 01:46:06.079 --> 01:46:06.760 never telling. 1907 01:46:06.560 --> 01:46:09.000 Me like I should buy cones or I should buy land? 1908 01:46:09.000 --> 01:46:13.800 Do you think much better than buying some cryptical assets? 1909 01:46:14.960 --> 01:46:15.000 That? 1910 01:46:17.359 --> 01:46:17.520 Right? 1911 01:46:17.800 --> 01:46:23.159 How was that from? When you want to invest? The 1912 01:46:23.319 --> 01:46:29.960 first question? So when you want to invest, the very 1913 01:46:30.159 --> 01:46:33.439 first to ask yourself is why are you inverted? So 1914 01:46:33.560 --> 01:46:35.600 if you have on the bank I want to invest, 1915 01:46:35.800 --> 01:46:38.119 you don't invest because of what's in front of you. 1916 01:46:38.720 --> 01:46:42.199 The invest to match your objective It's like you asking 1917 01:46:42.279 --> 01:46:45.680 me if you buy a Honda coup or should you 1918 01:46:45.720 --> 01:46:48.600 buy a nine one one the anside, what do you 1919 01:46:48.720 --> 01:46:50.760 want to do with the car? If you want to 1920 01:46:50.880 --> 01:46:54.319 paximates to come, buy nine one one truck, if you 1921 01:46:54.359 --> 01:46:56.840 want to just go to work just to sell, buy 1922 01:46:56.920 --> 01:46:59.800 the hound. So let me ask you the question this 1923 01:47:00.279 --> 01:47:03.039 this Why are you invested for short terms? 1924 01:47:03.199 --> 01:47:03.920 For your long term? 1925 01:47:04.000 --> 01:47:05.319 Why are you investing. 1926 01:47:06.640 --> 01:47:08.039 It's for long term? 1927 01:47:08.399 --> 01:47:15.359 How long is long term? Okay? So if you're gonna 1928 01:47:15.399 --> 01:47:20.560 touch the money for two to ten years, I like property. Okay, 1929 01:47:21.279 --> 01:47:24.279 if you're gonna buy money tomorrow or next next week, 1930 01:47:24.359 --> 01:47:27.079 don't buy a property person. It's not liquid. Property is 1931 01:47:27.079 --> 01:47:28.720 not liquids. If you put your money in and you 1932 01:47:28.800 --> 01:47:31.520 buy Lane, it's not liquid. So don't do that same 1933 01:47:31.560 --> 01:47:35.079 thing with the more coins. Your coins are very very risky, 1934 01:47:35.479 --> 01:47:38.199 even if it's bits coin, it's very very risky. So 1935 01:47:38.359 --> 01:47:41.239 you want to build a pyramid, and your coins of 1936 01:47:41.359 --> 01:47:43.880 your crypto are the top top of the pyramid. So 1937 01:47:43.920 --> 01:47:47.520 that's your like five percent of your portfolio. But the 1938 01:47:47.760 --> 01:47:52.880 base of your pyramids should be solid investments, property, bluetoes, stocks, 1939 01:47:53.000 --> 01:47:55.720 that kind of thing that are the very top crypto, 1940 01:47:56.199 --> 01:47:58.359 So that's an investment for long term. I would say, 1941 01:47:58.520 --> 01:48:00.720 build a portfolio. You don't know how old you are. 1942 01:48:01.119 --> 01:48:04.279 But if you want to buy land, good get by 1943 01:48:04.399 --> 01:48:06.359 land from a good sauce with good paper work that 1944 01:48:06.520 --> 01:48:08.720 keeps its kind of like legits for you. 1945 01:48:09.119 --> 01:48:11.800 If it's for twenty years, fantastic, fancis. 1946 01:48:12.199 --> 01:48:16.199 We have money dure, so you can't take compositional B 1947 01:48:16.520 --> 01:48:18.520 and then you work for what you have to build it. 1948 01:48:18.560 --> 01:48:19.279 That's what I prefer. 1949 01:48:19.520 --> 01:48:21.960 Because you said twenty years. Does that make sense? 1950 01:48:24.319 --> 01:48:26.239 Thank you very much, you very well. 1951 01:48:26.560 --> 01:48:26.760 Thank you. 1952 01:48:27.680 --> 01:48:32.479 Let me guess wammy wammy on our country. There's another mummy. 1953 01:48:36.760 --> 01:48:42.920 Yeah, my song is all right. 1954 01:48:43.039 --> 01:48:44.720 So I am a. 1955 01:48:50.479 --> 01:48:54.840 Country. I keep most of my dollars. 1956 01:48:54.840 --> 01:48:58.119 I'm not making by the moment, so I had to 1957 01:48:58.239 --> 01:49:03.880 be through that counts to buy. It's for left right, 1958 01:49:04.039 --> 01:49:07.319 like I both see quite expensive, So I write the 1959 01:49:07.399 --> 01:49:11.680 notes right, So on my account nextel, why I just 1960 01:49:11.720 --> 01:49:17.000 recordized health statements for up times. 1961 01:49:17.079 --> 01:49:18.279 So in my UH. 1962 01:49:19.680 --> 01:49:24.960 Said, I have pleased how to write my nose my nose. 1963 01:49:25.479 --> 01:49:27.279 That when I actually. 1964 01:49:29.680 --> 01:49:31.920 I'm now usually payments. 1965 01:49:31.880 --> 01:49:36.079 Right, I want to the people, so I have that 1966 01:49:36.199 --> 01:49:39.920 came in right, So I wanted to dollar boats. 1967 01:49:40.039 --> 01:49:41.239 I was looking at the agent. 1968 01:49:41.319 --> 01:49:44.239 Really, I'm seeing that the dollar which is coming down, so. 1969 01:49:44.359 --> 01:49:47.079 I don't want to buy the dollar hand. 1970 01:49:47.800 --> 01:49:53.600 And like doll that comes down, right, So I'm doesn't 1971 01:49:53.680 --> 01:49:56.920 not ways to people so that your one two years 1972 01:49:56.960 --> 01:49:59.760 by dollar whatever reason, then you just stood back into p. 1973 01:50:00.279 --> 01:50:03.039 Investment accounts or I and your. 1974 01:50:03.000 --> 01:50:06.319 Skill in the I couldn't in the fund. 1975 01:50:06.840 --> 01:50:11.000 We hope that didn't allow you likely come down with the. 1976 01:50:12.640 --> 01:50:19.399 Level and the interest from from your phone, we've been able. 1977 01:50:19.199 --> 01:50:20.359 To like a sex you home. 1978 01:50:21.079 --> 01:50:23.760 So that's what I'm That's where I'm kind of you 1979 01:50:25.399 --> 01:50:31.640 that you're come dollar they took or actually your recovered. 1980 01:50:32.399 --> 01:50:33.920 Yeah, I think you're mixed up with a lot of 1981 01:50:34.039 --> 01:50:38.520 things there. So if you have income and I see 1982 01:50:38.560 --> 01:50:41.840 you see you took only for the investments for assets 1983 01:50:42.119 --> 01:50:45.600 right to buy, So you took income to an asset 1984 01:50:45.800 --> 01:50:49.039 they want to pay back, don't pulling them all together. 1985 01:50:49.960 --> 01:50:52.399 So that's time you did. The first of all is. 1986 01:50:52.399 --> 01:50:56.000 Gone withdraw on it for them. We took it from 1987 01:50:56.039 --> 01:50:57.199 what what do you call that? 1988 01:50:57.600 --> 01:50:58.039 You took it from? 1989 01:50:58.880 --> 01:51:01.279 Love them saying what do you call that place? 1990 01:51:01.359 --> 01:51:03.960 To get from account? Was it. 1991 01:51:05.479 --> 01:51:05.800 Okay? 1992 01:51:07.399 --> 01:51:07.640 If you. 1993 01:51:09.119 --> 01:51:17.600 Keep I don't know you. That's so if it's not 1994 01:51:17.800 --> 01:51:21.920 an investment account, Peri's what you pack money into for emergencies. 1995 01:51:23.199 --> 01:51:24.960 Yeah, but it's me. 1996 01:51:27.800 --> 01:51:31.000 But your checks account is not to invest tomorrow. 1997 01:51:31.199 --> 01:51:34.079 You're packing here for ex That's what I'm hearing. 1998 01:51:37.680 --> 01:51:40.760 Yes, so what you should just go ahead and bring 1999 01:51:40.800 --> 01:51:44.119 you back because if you had your retirement accounts and 2000 01:51:44.239 --> 01:51:47.720 investment accounts that is for you to compound from longer. 2001 01:51:48.079 --> 01:51:50.520 I say, okay, yeah, you're taking money from you and 2002 01:51:50.720 --> 01:51:53.800 you borrow from your from your retirement fund, you can 2003 01:51:53.880 --> 01:51:55.920 put it back in. But this is like hear you said, 2004 01:51:55.920 --> 01:51:58.119 it does have money in your massive fund which you 2005 01:51:58.239 --> 01:52:00.640 used to buy an asset in the battle, right. 2006 01:52:00.960 --> 01:52:02.600 And I wanted to back Just put it back in, 2007 01:52:03.319 --> 01:52:07.119 just put it black. Well, remember this money, this money 2008 01:52:07.199 --> 01:52:07.359 is not. 2009 01:52:10.159 --> 01:52:14.800 It's a fresh contribution because you're taking out money. You 2010 01:52:15.119 --> 01:52:17.720 took out money from the income that's spend. Don't put 2011 01:52:17.760 --> 01:52:20.000 that money in. That's why I asked you, what may 2012 01:52:20.159 --> 01:52:21.680 you call it? Because if you had it on an 2013 01:52:21.760 --> 01:52:25.239 investment account, and it will say okay, festing out, fasting, 2014 01:52:25.279 --> 01:52:27.800 all that kind of stuff. But it's just an in 2015 01:52:27.880 --> 01:52:30.560 an out account. It's just when you pack money. It 2016 01:52:30.640 --> 01:52:33.359 doesn't matter the Brits you are buying. Remember the the 2017 01:52:33.840 --> 01:52:36.840 imagine fund is straight to six months of your expenses. 2018 01:52:37.680 --> 01:52:40.840 So if that fund is true to save expenses to 2019 01:52:40.920 --> 01:52:44.199 accumulated there that one is not your lot tying that 2020 01:52:44.359 --> 01:52:47.640 money to your retire les or to any other things. 2021 01:52:47.640 --> 01:52:50.800 If I hear you correctly, it's way packing money that 2022 01:52:50.920 --> 01:52:54.279 you get dollars just to do there for So just 2023 01:52:54.359 --> 01:52:55.000 feel blashed. 2024 01:52:57.960 --> 01:53:03.600 All right, all right, thank you, you want thanks, but 2025 01:53:05.680 --> 01:53:11.840 they can't look at everyone name a relationship manager and 2026 01:53:12.079 --> 01:53:16.079 in the bank and I have customers, so you know 2027 01:53:16.199 --> 01:53:17.560 process the lows and. 2028 01:53:19.520 --> 01:53:23.479 Currently the London rates it's too high now it's surrounded 2029 01:53:24.000 --> 01:53:27.680 sense of which is not factory encouraging businesses. 2030 01:53:27.840 --> 01:53:29.199 This is not a good time to borrow. 2031 01:53:29.880 --> 01:53:32.600 So but I want to ask the questions because it 2032 01:53:32.640 --> 01:53:35.840 turn this this is a nice thing. I said, if 2033 01:53:35.880 --> 01:53:38.159 you us you want to invest in, what's to consume 2034 01:53:38.680 --> 01:53:41.560 to what a part of the good things that What 2035 01:53:41.720 --> 01:53:45.560 are the best investments that could be doing using boringforms 2036 01:53:45.640 --> 01:53:49.800 looking at this current London city. 2037 01:53:52.000 --> 01:53:57.279 Any interests, anything that pays you for investments? 2038 01:54:00.720 --> 01:54:07.920 Okay, to president next time, it's really. 2039 01:54:09.600 --> 01:54:10.159 See how. 2040 01:54:11.840 --> 01:54:14.359 Very much which invested. Do you think this is for 2041 01:54:14.560 --> 01:54:15.720 the printing back today. 2042 01:54:17.880 --> 01:54:20.000 I don't think it's. 2043 01:54:20.039 --> 01:54:23.319 Actually there's not. 2044 01:54:24.239 --> 01:54:26.479 There's not. That's a point of it. It's not. So 2045 01:54:26.760 --> 01:54:28.760 what I want to try to do is to build 2046 01:54:28.800 --> 01:54:33.239 a portfolio that that it's going to grow. So you 2047 01:54:33.479 --> 01:54:36.239 when you buy an asset today, you want to ban 2048 01:54:36.439 --> 01:54:40.399 as you think over time will come for the lost 2049 01:54:40.439 --> 01:54:43.680 income today by ten years example, will then start to 2050 01:54:43.720 --> 01:54:46.520 pay you look at this way, the life of that 2051 01:54:46.720 --> 01:54:50.399 asset school maybe thirty years. If you take your cash 2052 01:54:50.479 --> 01:54:54.079 frow today, you'll be negative and to give you negative 2053 01:54:54.479 --> 01:54:58.439 for ten years. But once the asset becomes positive, is 2054 01:54:58.520 --> 01:55:00.319 that going to give you? Put this in the next 2055 01:55:00.359 --> 01:55:04.039 fifteen years. So if you look at it as if 2056 01:55:04.079 --> 01:55:07.239 you stretch out the time the cash line of that asset, 2057 01:55:07.640 --> 01:55:10.000 that's what I'm asking. Is the same way if you 2058 01:55:10.159 --> 01:55:13.880 build a property, you buck take a loan for actual person, 2059 01:55:13.960 --> 01:55:17.520 like you build five buildings for the first five years, 2060 01:55:17.560 --> 01:55:20.000 you're paying back the bank, so you're not real cash 2061 01:55:20.159 --> 01:55:20.680 to yourself. 2062 01:55:20.760 --> 01:55:23.359 But what was it as a com it's pure cash 2063 01:55:23.399 --> 01:55:23.880 to yourself. 2064 01:55:24.479 --> 01:55:29.720 Nobody will say I don't want to I do not 2065 01:55:29.840 --> 01:55:34.279 want to invest because I'm not going to any just 2066 01:55:34.359 --> 01:55:36.640 for the next five years. No one's gonna argue that 2067 01:55:36.760 --> 01:55:39.840 you get a point making. Everyone's gonna say, I want 2068 01:55:39.920 --> 01:55:43.199 to buy that property because the next ten years I 2069 01:55:43.279 --> 01:55:46.960 am able to make a return that is better than 2070 01:55:47.000 --> 01:55:49.520 what I have to do. I'm going to do this 2071 01:55:51.359 --> 01:55:57.199 ye in long term. One said, so that you say 2072 01:55:57.319 --> 01:56:00.720 I'm losing one today because in addition, well, what do 2073 01:56:00.760 --> 01:56:04.680 you think the asset value rises tomorrow? I might go 2074 01:56:04.800 --> 01:56:07.720 to be a better if you wait for perfectly, you're 2075 01:56:07.760 --> 01:56:10.640 never going to the city to the boat. That's where 2076 01:56:10.640 --> 01:56:16.399 I wanted to do this, all right, thanks to what Jerry? 2077 01:56:16.520 --> 01:56:17.359 What's Jerry? 2078 01:56:19.479 --> 01:56:19.680 Yeah? 2079 01:56:20.560 --> 01:56:25.800 Thanks, I just joined. So I hope my prasion will 2080 01:56:26.079 --> 01:56:29.199 be entirely of I have a question. 2081 01:56:29.119 --> 01:56:38.560 Around in savings investments, and then starts company about that 2082 01:56:38.840 --> 01:56:40.960 we'll get to travel your ana. 2083 01:56:41.800 --> 01:56:50.600 So but during my last last and fire and says 2084 01:56:50.760 --> 01:56:51.880 I could get your last and. 2085 01:56:52.119 --> 01:56:56.239 Was coming to compare to some of the person before. 2086 01:56:56.880 --> 01:56:58.000 My love that. 2087 01:57:00.800 --> 01:57:03.800 I do with that to keep it alive. 2088 01:57:04.640 --> 01:57:08.239 What's like to take what. 2089 01:57:10.920 --> 01:57:11.199 That is? 2090 01:57:11.399 --> 01:57:11.560 Right? 2091 01:57:12.880 --> 01:57:16.159 I don't know what before I try to put some 2092 01:57:16.279 --> 01:57:21.479 shares and checked it was being fine. 2093 01:57:22.119 --> 01:57:25.319 What is the better advice when it comes to that 2094 01:57:25.880 --> 01:57:29.279 should I just signed and maybe not buy more? Need 2095 01:57:29.319 --> 01:57:35.399 to take time to kind of like that because that's 2096 01:57:35.439 --> 01:57:37.920 staying energy persons. 2097 01:57:38.560 --> 01:57:42.520 So for the first one, are you yes, you should 2098 01:57:42.600 --> 01:57:47.039 do it? You actually actually make more contributions. It's called 2099 01:57:47.199 --> 01:57:52.119 additional voluntary contributions. You can conduct you if you try 2100 01:57:52.199 --> 01:57:53.279 to contact. 2101 01:57:52.840 --> 01:57:55.479 Them what they need for. 2102 01:57:55.600 --> 01:57:57.720 Its going to be a schedule to say I wanted 2103 01:57:57.800 --> 01:58:01.600 to call your p called them, say I had this perfe, 2104 01:58:01.800 --> 01:58:04.560 I want to make additional fort of controls to it. 2105 01:58:05.000 --> 01:58:06.760 How can I go about? That's what you can do? 2106 01:58:09.319 --> 01:58:12.479 Okay, okay, if you are not if you if you 2107 01:58:12.560 --> 01:58:19.239 are no longer working, if you're not working, you can 2108 01:58:19.279 --> 01:58:20.840 actually what's it? 2109 01:58:21.119 --> 01:58:24.239 You can actually request for some for some from that account. 2110 01:58:24.560 --> 01:58:26.840 But because I think it might be working, you might 2111 01:58:26.920 --> 01:58:29.319 not be able to get those phones. If you want 2112 01:58:29.359 --> 01:58:33.199 to keep it, you can still make for conversion to it, 2113 01:58:33.319 --> 01:58:37.760 so it's possible. So let's go to your question again, 2114 01:58:38.119 --> 01:58:40.239 why did you buy the sto that you mentioned? Why 2115 01:58:40.279 --> 01:58:42.399 did you buy it? What's the object of buying that stalk? 2116 01:58:44.039 --> 01:58:47.199 The you go was to continue buying more for a 2117 01:58:47.279 --> 01:58:47.880 long term. 2118 01:58:49.760 --> 01:58:51.359 Have youth diffidends and. 2119 01:58:53.239 --> 01:58:57.000 From that stock, have you got anything from that stock. Yeah, 2120 01:58:57.039 --> 01:58:58.840 I got after. 2121 01:58:59.600 --> 01:59:09.399 Okay, it w when you want, I can think, Okay, 2122 01:59:09.479 --> 01:59:11.359 what I'm asking is this is an empty and pace 2123 01:59:12.319 --> 01:59:16.159 pays some good dividends. If you plot your average cost. 2124 01:59:16.239 --> 01:59:18.199 Let's say you know you have a whole an error. 2125 01:59:18.760 --> 01:59:22.960 If you invested your dividends, your cost of what is 2126 01:59:23.039 --> 01:59:27.840 going to fall. So if you certainly don't need the 2127 01:59:27.960 --> 01:59:32.680 returns empty and reinvesteds reinvested, just go back to your 2128 01:59:32.760 --> 01:59:36.680 registered traditional but I think they're called coronation, correation, interation 2129 01:59:36.880 --> 01:59:40.119 to empty and go back to the confirm ware events 2130 01:59:40.159 --> 01:59:41.279 are getting. 2131 01:59:41.359 --> 01:59:42.840 Check for a difference and buy more. 2132 01:59:42.880 --> 01:59:46.159 If you buy more, what you are averaging now your 2133 01:59:46.239 --> 01:59:49.479 cost price of empty and you say it's not doing well. 2134 01:59:49.920 --> 01:59:52.239 If it's not doing well, if you want to keep it, 2135 01:59:52.640 --> 01:59:54.600 buy more and average costs down. 2136 01:59:55.119 --> 01:59:58.199 Thing is not doing what I want said, go ahead 2137 01:59:58.199 --> 01:59:58.560 and sell. 2138 01:59:58.680 --> 01:59:59.880 But it has to ansdly. 2139 01:59:59.920 --> 02:00:04.199 Have tom meet your objective. Buy that you actually bought 2140 02:00:04.239 --> 02:00:05.960 that stock in the first place. If you want to 2141 02:00:05.960 --> 02:00:08.680 hold it for long term, I would say invested in this. 2142 02:00:09.359 --> 02:00:11.279 I've been down the cost. So like you carry down 2143 02:00:11.359 --> 02:00:14.359 the cost, it's look at the price you put it. 2144 02:00:14.479 --> 02:00:17.279 Ask what did you have the cost that you have 2145 02:00:18.000 --> 02:00:21.000 because you invested your diffident. You just don't want to 2146 02:00:21.079 --> 02:00:21.439 major it. 2147 02:00:23.079 --> 02:00:25.159 Yes, but we talk about the. 2148 02:00:28.479 --> 02:00:28.880 Already. 2149 02:00:29.000 --> 02:00:34.239 But the cost if it was a share a hundred 2150 02:00:34.439 --> 02:00:37.720 error and you get the dais of ten error, you 2151 02:00:37.800 --> 02:00:41.880 then use that ten error to buy a new stock. Okay, 2152 02:00:42.119 --> 02:00:44.359 it's almost free me. But that ten that I came 2153 02:00:44.439 --> 02:00:48.479 from your hundred mir so your cost right, you might 2154 02:00:48.600 --> 02:00:54.279 have more quantity with the same hound seeing you want. 2155 02:00:54.399 --> 02:00:57.800 You use to buy hundred stock, then you hold the 2156 02:00:57.840 --> 02:00:58.680 stock gives. 2157 02:00:58.479 --> 02:00:59.680 You ten error. 2158 02:01:00.159 --> 02:01:02.399 When you take that ten you buy more stock. 2159 02:01:02.520 --> 02:01:05.239 It's from the same one hundred that you because initially 2160 02:01:05.720 --> 02:01:08.680 that you point a new stock for your aff geve 2161 02:01:08.800 --> 02:01:11.319 some for to go from pregner to ninety to fifty. 2162 02:01:11.720 --> 02:01:14.720 So we then compare with the market price. You're not 2163 02:01:14.840 --> 02:01:16.039 compared at to a hundred. 2164 02:01:16.560 --> 02:01:21.800 You're to compare reduced pride because you have reinvested your principle. 2165 02:01:22.840 --> 02:01:23.920 You see why I'm going to do this. 2166 02:01:24.319 --> 02:01:27.920 So if you did his answers again, you might be 2167 02:01:28.039 --> 02:01:32.079 surprised that you made more money because you've been invested. 2168 02:01:32.560 --> 02:01:35.439 So for you guys abroad, I am in Naira for 2169 02:01:35.640 --> 02:01:39.439 medal courses in one int thing about just for investing 2170 02:01:39.439 --> 02:01:42.199 individence and I too, that might be a good option 2171 02:01:42.319 --> 02:01:42.520 for you. 2172 02:01:43.439 --> 02:01:44.920 Okay, thank you so much. 2173 02:01:46.760 --> 02:01:47.640 Let's get to go to. 2174 02:01:50.000 --> 02:01:50.239 Hello. 2175 02:01:50.600 --> 02:01:52.399 Ok yeah you hi ahead. 2176 02:01:53.680 --> 02:01:55.720 Okay, I'm so my name is cool. 2177 02:01:55.800 --> 02:01:57.399 So I might have a question. 2178 02:01:58.079 --> 02:01:59.439 I got good first of. 2179 02:01:59.439 --> 02:02:05.199 All about like my business and question to go to 2180 02:02:05.239 --> 02:02:08.880 the question of the mind. Okay, So the question is like, 2181 02:02:09.760 --> 02:02:12.680 I'm work, I work like face. 2182 02:02:13.359 --> 02:02:16.520 Let me see, I lied to issue to the business 2183 02:02:17.199 --> 02:02:21.600 like working like fifty percent because we can get so 2184 02:02:21.680 --> 02:02:25.079 we're being fifty cents by revenue every like. 2185 02:02:25.840 --> 02:02:30.560 Watch and the kind of nok So, now my question 2186 02:02:30.720 --> 02:02:34.399 goes like should I should get our own speech? 2187 02:02:34.479 --> 02:02:35.319 I don't know any question. 2188 02:02:36.920 --> 02:02:40.279 Yes, that's a great question. Let me talk about rents 2189 02:02:40.560 --> 02:02:41.800 and startups. 2190 02:02:42.680 --> 02:02:46.760 Let me ask your question just like I rather report. 2191 02:02:46.560 --> 02:02:51.000 One that I said the proper to start off ba 2192 02:02:51.640 --> 02:02:52.960 die after two years? 2193 02:02:53.720 --> 02:02:54.199 Do you know what. 2194 02:02:55.920 --> 02:02:56.079 You know? 2195 02:02:57.119 --> 02:02:59.000 So that's when the rents expires. 2196 02:03:00.960 --> 02:03:04.439 Okay, So in fact, it is right, if you start off, 2197 02:03:05.439 --> 02:03:07.159 you shouldn't be borrowing willing to pay for. 2198 02:03:07.239 --> 02:03:11.920 Rent Okay, yeah, I get that. 2199 02:03:12.039 --> 02:03:16.039 It was actually like currently the revenue you are making 2200 02:03:16.680 --> 02:03:20.680 can cover the events, but the issue because like we 2201 02:03:20.760 --> 02:03:22.760 are being fifty percent, we're currently. 2202 02:03:22.560 --> 02:03:25.880 Using like an event or kind of table we have 2203 02:03:26.000 --> 02:03:28.680 at that more space. What this is that because we're 2204 02:03:29.319 --> 02:03:32.159 saved by students, we generate like we've generate for you, 2205 02:03:32.359 --> 02:03:32.920 that's seven. 2206 02:03:32.800 --> 02:03:34.279 Months of generated three million. 2207 02:03:34.920 --> 02:03:38.159 Was because we're being fifty I'm giving events over more 2208 02:03:38.680 --> 02:03:40.520 similial lands, not million school. 2209 02:03:40.760 --> 02:03:43.520 So at the end of every we handle apprecial, we 2210 02:03:43.600 --> 02:03:44.159 hand the market. 2211 02:03:45.039 --> 02:03:47.720 I want to go the very very simple thing. You're 2212 02:03:47.840 --> 02:03:50.960 incomparable your current rent you want to borrow wanting to 2213 02:03:51.039 --> 02:03:51.680 go to do what. 2214 02:03:54.000 --> 02:03:57.119 Like it's not a rented but it's kind of like 2215 02:03:57.319 --> 02:03:58.680 an agreements kind of thing. 2216 02:03:58.800 --> 02:04:03.039 So fifty about with generally, So now we want to 2217 02:04:03.119 --> 02:04:06.199 have our own specify that used to invest in all 2218 02:04:06.239 --> 02:04:07.279 that things get. 2219 02:04:07.760 --> 02:04:13.720 Because like so can you and your percent cover the reds? 2220 02:04:14.640 --> 02:04:15.079 You please? 2221 02:04:15.960 --> 02:04:16.680 So what's the question? 2222 02:04:16.880 --> 02:04:17.520 What's the question? 2223 02:04:17.680 --> 02:04:21.359 Then the question is should be taking to get own? 2224 02:04:22.319 --> 02:04:22.880 What are you saying? 2225 02:04:23.479 --> 02:04:23.720 Said? 2226 02:04:24.079 --> 02:04:26.920 So let me ask you again? Can you cover your 2227 02:04:27.000 --> 02:04:28.359 rights the new place? 2228 02:04:31.479 --> 02:04:32.319 What you. 2229 02:04:34.479 --> 02:04:34.800 Why not? 2230 02:04:34.920 --> 02:04:35.800 You center? 2231 02:04:36.239 --> 02:04:37.439 You gonna stand whatever we. 2232 02:04:37.520 --> 02:04:45.319 Ever, this's a good question. Fifty percent right now? Can 2233 02:04:45.439 --> 02:04:48.239 you cover your rids in the new place? 2234 02:04:49.279 --> 02:04:49.479 Yes? 2235 02:04:49.800 --> 02:04:54.439 Yes, yes you can't because because we're ring like all 2236 02:04:54.520 --> 02:04:56.199 that house like market operation. 2237 02:04:56.399 --> 02:04:58.279 That's what I like that. That's what I asked you. 2238 02:04:58.600 --> 02:05:01.439 I asked you a simple question. The fifty percent you 2239 02:05:01.680 --> 02:05:05.039 and your income you end right now? Can it afford 2240 02:05:05.239 --> 02:05:08.319 you to get a new place from your income and 2241 02:05:08.479 --> 02:05:13.960 your gun income combined rate commate income? Can you complate. 2242 02:05:15.159 --> 02:05:15.359 Yes? 2243 02:05:15.520 --> 02:05:17.399 Like yes, what's the question? 2244 02:05:20.760 --> 02:05:25.399 I mean, sure you understand what I'm saying, Like, the 2245 02:05:25.560 --> 02:05:27.680 question is the keep. 2246 02:05:29.039 --> 02:05:33.479 We have no cash race? You understand what's what's cash? 2247 02:05:33.680 --> 02:05:36.000 Cash income or letting work cash? 2248 02:05:37.840 --> 02:05:41.800 The balance? Let me see what balance that's the next profit. 2249 02:05:42.880 --> 02:05:45.239 It's like in the band, the balance you have, not 2250 02:05:45.479 --> 02:05:49.439 the band. So because I'm asking you specific questions, but 2251 02:05:49.560 --> 02:05:51.479 you answered that, you go back. So let me ask 2252 02:05:51.520 --> 02:05:56.159 you face specific Right, you make seals, right, you make seals, 2253 02:05:57.159 --> 02:06:00.880 then you pay expenses. You pay expenses. Yeah, then you 2254 02:06:01.000 --> 02:06:05.279 have net income? Right? Are you paying rent currently? 2255 02:06:07.199 --> 02:06:07.399 Yes? 2256 02:06:10.359 --> 02:06:14.800 Okay, So see as I'm asking you, can your revenues currently? 2257 02:06:15.079 --> 02:06:17.199 If you go to a new place, can you pay 2258 02:06:17.279 --> 02:06:19.520 for the rent of the new place from your revenues? 2259 02:06:22.439 --> 02:06:22.640 Yes? 2260 02:06:23.239 --> 02:06:24.000 So what's the question. 2261 02:06:25.479 --> 02:06:26.520 If you can't pay it, then go. 2262 02:06:28.720 --> 02:06:29.039 Okay? 2263 02:06:31.760 --> 02:06:36.000 Thank You don't borrow money to pay for your new place. 2264 02:06:36.359 --> 02:06:40.560 Don't don't borrow mons, pay for rent. Pay for rent 2265 02:06:40.640 --> 02:06:43.800 from your organic income. If you cannot afford the rent 2266 02:06:43.880 --> 02:06:47.840 from you organic income, then the business cannot afford that. Please, 2267 02:06:47.880 --> 02:06:50.760 and you can don't borrow money to do that. No, 2268 02:06:51.520 --> 02:06:54.800 but if you've said that yes, your organic income can 2269 02:06:54.920 --> 02:06:58.680 pay for rent, then do it. But don't borrow. Don't 2270 02:06:58.800 --> 02:07:02.960 live where you are paying your royalty to rent the 2271 02:07:03.039 --> 02:07:06.119 space to borrow money to go and rent in place 2272 02:07:06.159 --> 02:07:07.960 that you Are you buying it or are you renting 2273 02:07:08.000 --> 02:07:08.760 it just to rent? 2274 02:07:09.479 --> 02:07:09.520 No? 2275 02:07:10.560 --> 02:07:14.640 Please don't stay where you are or use your organic 2276 02:07:14.760 --> 02:07:19.079 income and convert the rents. Please, Yeah, okay, appreciate that. 2277 02:07:19.319 --> 02:07:20.680 Hey guys again us to recap. 2278 02:07:20.800 --> 02:07:23.840 Right, we're talking about special health check. I've talked about 2279 02:07:23.920 --> 02:07:27.560 the sheddle. How your objective in this sheddle is to 2280 02:07:27.720 --> 02:07:32.000 move your active income to your passive income. So income 2281 02:07:32.199 --> 02:07:33.479 is not wealth. 2282 02:07:34.199 --> 02:07:36.159 Income has got to be converted. 2283 02:07:35.840 --> 02:07:40.760 To active to income for you to income has got 2284 02:07:40.800 --> 02:07:44.079 to be converted to an asset for you to be wealthy. 2285 02:07:44.479 --> 02:07:47.359 So we're saying you move your active income, which is 2286 02:07:47.399 --> 02:07:51.279 your salary, to a passive income, which is what income 2287 02:07:51.319 --> 02:07:52.640 you make when you're not working. 2288 02:07:52.760 --> 02:07:53.560 That's not one thing. 2289 02:07:53.920 --> 02:07:57.000 Then one say number two, make sure your passive income, 2290 02:07:57.119 --> 02:08:00.520 the money from rent, from your share of business, think 2291 02:08:00.560 --> 02:08:04.000 that you end when out there can cover your non 2292 02:08:04.439 --> 02:08:10.399 discretionary expenses. I've shared both diagrams. That explains what passive 2293 02:08:10.439 --> 02:08:13.359 activists I want, not discretion in communs. So that's what 2294 02:08:13.560 --> 02:08:17.039 want about today. Then we'll talk about your budget. On 2295 02:08:17.239 --> 02:08:20.600 your budget for twenty five, list out to your expenses. 2296 02:08:20.720 --> 02:08:23.439 You can pick the month of October. No the final 2297 02:08:23.600 --> 02:08:26.880 set list out your expenses. Go to your bud account, 2298 02:08:27.000 --> 02:08:32.000 pull up your statements, list your expenses, categorize your expenses, 2299 02:08:32.680 --> 02:08:35.920 and then I locate in points for experts for twenty 2300 02:08:36.079 --> 02:08:39.760 twenty five. So we'll talk about your budgeting. We'll talk 2301 02:08:39.800 --> 02:08:44.239 about how you're past yet your objective to convert active 2302 02:08:44.720 --> 02:08:49.000 to passive over a long period of time. Jesse also mine, 2303 02:08:49.680 --> 02:08:50.399 Jesse go ahead. 2304 02:08:55.079 --> 02:08:57.079 Thank you for the pushing dispe with your share. 2305 02:08:57.560 --> 02:09:03.960 So my question is students and put puting to work 2306 02:09:04.119 --> 02:09:07.319 at an organization. We are about one hundred thousand a year. 2307 02:09:08.079 --> 02:09:11.359 So the last year I was able to save three 2308 02:09:11.439 --> 02:09:15.720 hundred thousand there in money markets bought Church Review about 2309 02:09:15.720 --> 02:09:18.720 one hundred thousands around pcent interest rates and a logging 2310 02:09:18.720 --> 02:09:21.159 about one hundred thousand for next year. I'm looking to 2311 02:09:22.000 --> 02:09:25.880 go ahead to in some certification un certification in finance 2312 02:09:25.920 --> 02:09:29.039 and the cost about seven hundred thousand there, So our listeners. 2313 02:09:28.800 --> 02:09:29.960 To ask what do you think? 2314 02:09:30.039 --> 02:09:35.359 Question about what's the stification, what's the satisfication? What is 2315 02:09:35.439 --> 02:09:38.079 question for cf so acording it to do a lot 2316 02:09:38.279 --> 02:09:44.000 for four undred Yeah, that's that's a better investment, your investment. 2317 02:09:44.520 --> 02:09:46.479 So if you can get a CFP, it's going to 2318 02:09:46.600 --> 02:09:49.560 boost your active income. So it's like you're investinite in yourself. 2319 02:09:50.239 --> 02:09:55.199 So if you've got that, yeah, I will take it. Okay. 2320 02:09:55.279 --> 02:09:59.760 So another idea can be interesting if you think you 2321 02:09:59.840 --> 02:10:05.640 can see past, that's an investment. Thank you, Okay, try, 2322 02:10:05.880 --> 02:10:07.560 thank you very much. Good luck with this, sir. 2323 02:10:08.840 --> 02:10:11.479 Thanks thanks my look at Julia, Julia, what's. 2324 02:10:13.319 --> 02:10:15.680 I'm carlor believing a man herd? 2325 02:10:15.840 --> 02:10:18.920 Yes, sir, you are all right, Thank you very much. 2326 02:10:18.960 --> 02:10:21.039 I'm just just saying I'll followed you for a long 2327 02:10:21.119 --> 02:10:22.279 and then agine this was going on. 2328 02:10:22.399 --> 02:10:23.520 I was stumped upon this. 2329 02:10:23.640 --> 02:10:27.520 I'm so that I can't Yes, okay, first of all, 2330 02:10:27.640 --> 02:10:34.520 I I just got exposed to a stockbroker official stockbroker 2331 02:10:34.720 --> 02:10:37.359 earlier on this year because I've been trying to figure 2332 02:10:37.359 --> 02:10:40.000 out how to get involved in the captain market in Nigeria. 2333 02:10:40.520 --> 02:10:43.239 So I got involved in one. And my question is 2334 02:10:43.319 --> 02:10:43.760 two food. 2335 02:10:44.079 --> 02:10:46.600 First of all, he's been sending me or they have 2336 02:10:46.720 --> 02:10:50.760 been sending me on commercial papers in mid thirty percent, 2337 02:10:51.000 --> 02:10:55.880 twenty nine percent or one twelve percent dollars, and I 2338 02:10:55.960 --> 02:10:58.800 want to just and I've seen a ratings, A plus, 2339 02:10:58.920 --> 02:11:02.600 A plus plus ratings on these commercial papers. I want 2340 02:11:02.640 --> 02:11:07.159 to just ask how how safe are they is and 2341 02:11:08.600 --> 02:11:11.399 historically are the good part time or. 2342 02:11:11.399 --> 02:11:12.399 Short term investments. 2343 02:11:12.560 --> 02:11:15.520 That's my first question and my second one is kind 2344 02:11:15.560 --> 02:11:18.880 of like to imagine that and someone go from most 2345 02:11:18.920 --> 02:11:22.000 stop procrast multiple stocks at the same time or do 2346 02:11:22.159 --> 02:11:24.640 I have to stick with one? And I think the 2347 02:11:24.760 --> 02:11:28.319 last question is how how can I invest understand how 2348 02:11:28.399 --> 02:11:29.560 to invest in the stock. 2349 02:11:29.399 --> 02:11:30.880 Market and local and internationally? 2350 02:11:31.159 --> 02:11:33.479 What would be the best place to get the best 2351 02:11:33.520 --> 02:11:37.720 information to make me make informed decisions for my investments 2352 02:11:37.800 --> 02:11:38.279 going forward? 2353 02:11:38.479 --> 02:11:38.800 Thank you? 2354 02:11:39.520 --> 02:11:41.680 Yeah, So that's the second question is easier, So I 2355 02:11:41.800 --> 02:11:44.840 grab that one. Yes, you can have multiple stopping account 2356 02:11:45.479 --> 02:11:49.880 what advice you have one cs CS? So like look 2357 02:11:49.880 --> 02:11:52.960 at it this way you can buy shares too many broadcasts? 2358 02:11:53.439 --> 02:11:56.520 What have one c S expand rather than ask where 2359 02:11:56.560 --> 02:11:59.079 your shares are going to be deposited. So if you 2360 02:11:59.239 --> 02:12:02.800 buy from broker A, have your CSS with them. If 2361 02:12:02.840 --> 02:12:05.159 you use broker B, then go have your c S 2362 02:12:05.239 --> 02:12:07.800 c S with telbroker you to send the shares to 2363 02:12:07.880 --> 02:12:10.199 your cs S. Right you here, you know what I mean. 2364 02:12:10.479 --> 02:12:12.399 So you have one c c S, but you can 2365 02:12:12.560 --> 02:12:14.640 have many to stop broker not a problem with that 2366 02:12:15.920 --> 02:12:18.279 number two and the first one you talk about. They're 2367 02:12:18.279 --> 02:12:22.520 sending commocial and they are abited. So cps are usually 2368 02:12:22.640 --> 02:12:26.600 what is commutual paper is is that the company itself 2369 02:12:26.720 --> 02:12:30.279 is borrowing. Is borrowing. You are lending money to the 2370 02:12:30.399 --> 02:12:33.000 company itself, not the bank. When you go to a 2371 02:12:33.119 --> 02:12:35.319 bank and you give the bank money to invest in 2372 02:12:35.399 --> 02:12:36.359 the bank, that's called. 2373 02:12:36.199 --> 02:12:37.359 The fixed deposits. 2374 02:12:37.479 --> 02:12:40.079 So the bank is live. The bank is saying we 2375 02:12:40.199 --> 02:12:42.319 are taking that money from you and are going to 2376 02:12:42.399 --> 02:12:44.760 promise to give you a return. And the bank is 2377 02:12:44.920 --> 02:12:48.000 ensured by nd I C Right, so when you get 2378 02:12:48.039 --> 02:12:50.279 to bank one of to five million, it's ensured by 2379 02:12:50.319 --> 02:12:53.239 the NDIC and the bank is liable. When a bank 2380 02:12:53.359 --> 02:12:56.840 sells a commercial platform say MTN. It is mt and 2381 02:12:56.920 --> 02:12:59.279 you are lending money too, not the bank. So because 2382 02:12:59.319 --> 02:13:03.159 it's because it is riskier than than the than the bank. 2383 02:13:03.720 --> 02:13:05.720 Empty MPs you the higher RATI friction. 2384 02:13:06.199 --> 02:13:08.880 So if you can stomach the extra risk coulture papers, 2385 02:13:08.920 --> 02:13:11.119 are you good for the end the guaranteed rate of 2386 02:13:11.199 --> 02:13:14.680 friction if you can stomach the added risk. So that's 2387 02:13:14.720 --> 02:13:18.920 the answer right there for you. On commercial papers and 2388 02:13:19.039 --> 02:13:21.439 I like them. If you are aerited and all that, 2389 02:13:21.720 --> 02:13:23.840 a good company is empty n you know, so you 2390 02:13:23.920 --> 02:13:27.199 can say, wow, it's empty and the bluetube stock highest 2391 02:13:27.600 --> 02:13:30.640 second highest cap stock in Nigeria, they won't go down. 2392 02:13:30.800 --> 02:13:32.560 That's going to be your constrution, superbs. 2393 02:13:32.600 --> 02:13:33.399 You can do that right. 2394 02:13:34.479 --> 02:13:37.159 Your last question about how you plan anymore? I mean 2395 02:13:37.520 --> 02:13:40.760 intent is filled with free resources. If you go to 2396 02:13:40.840 --> 02:13:43.680 YouTube and industied teach me about stock, you will you 2397 02:13:43.800 --> 02:13:47.359 see tons of videos on YouTube that teach you about stoff. 2398 02:13:47.399 --> 02:13:48.079 So do that. 2399 02:13:48.279 --> 02:13:52.199 Go online, YouTube, Instagram, plow, lots of channels, Google on 2400 02:13:52.319 --> 02:13:55.640 blue bed, look Blue Bluebell or your TV. You start 2401 02:13:55.680 --> 02:13:57.520 to pick up the language and the intent of what 2402 02:13:57.640 --> 02:13:59.199 they are seen and then you come and expert just 2403 02:13:59.319 --> 02:14:01.359 like how you watch you know, if you have an 2404 02:14:01.399 --> 02:14:03.640 interesting football, you don't who you know what offside is 2405 02:14:03.960 --> 02:14:06.359 what goble is the same thing with the investments. You 2406 02:14:06.439 --> 02:14:08.840 have to pickle it. I'm still on there and you 2407 02:14:08.920 --> 02:14:11.840 can basically learn what they're saying and all those things 2408 02:14:11.960 --> 02:14:14.079 mean to you. That essentially is let's not margic to it. 2409 02:14:15.479 --> 02:14:18.920 Thank you very much in perfect Hey, welcome brother, thank 2410 02:14:18.960 --> 02:14:23.359 you so much. Let's get wasn't spoken, I've got apparently 2411 02:14:23.399 --> 02:14:29.760 have you spoken? It's go ahead, Daniel or catching that. 2412 02:14:30.279 --> 02:14:31.039 Let's be catching. 2413 02:14:33.159 --> 02:14:35.840 Thank you everybody, Thank you so call. 2414 02:14:37.079 --> 02:14:38.359 I just trumbled upout this. 2415 02:14:38.399 --> 02:14:43.119 Space and I'm really enjoying the Oh well, I want 2416 02:14:43.159 --> 02:14:45.159 to ask what you think about. 2417 02:14:46.439 --> 02:14:47.000 Such too. 2418 02:14:47.159 --> 02:14:51.479 She's being the smallest unit of this makes going. 2419 02:14:51.560 --> 02:14:59.319 You're just speaking, you're speaking English, Sato, She's the smallest 2420 02:14:59.359 --> 02:14:59.760 scenes of this. 2421 02:15:00.239 --> 02:15:02.039 It doesn't mean anything. It means nothing. 2422 02:15:04.039 --> 02:15:04.279 I was. 2423 02:15:04.359 --> 02:15:07.680 I want to ask if what you think about investing 2424 02:15:07.840 --> 02:15:11.399 busis in general, because we know we can see the 2425 02:15:11.479 --> 02:15:15.000 future it's going before its markets are trade for I 2426 02:15:15.079 --> 02:15:18.199 see the future and how the market is going, so 2427 02:15:19.520 --> 02:15:23.399 and then the future where one one sattooshe be equal 2428 02:15:23.479 --> 02:15:27.439 to one dollar someday. And let's say in Nigeria has 2429 02:15:27.960 --> 02:15:31.319 billions of the satleges and really the world leaders are 2430 02:15:31.359 --> 02:15:32.600 stacking of busis now. 2431 02:15:32.720 --> 02:15:34.840 We can't see the future of it. So what do 2432 02:15:34.960 --> 02:15:38.279 you think about discoines. 2433 02:15:41.359 --> 02:15:43.520 But I'm going to tell you this, Bitcoin now seems 2434 02:15:43.560 --> 02:15:47.880 to have more utility because of the US president wants 2435 02:15:47.920 --> 02:15:51.479 to invest in the US presidents that Donald Trump, the 2436 02:15:51.640 --> 02:15:56.600 US present elects a lot of promises to be to 2437 02:15:56.680 --> 02:15:59.359 the market and if you gets elected, you will support them. 2438 02:16:00.079 --> 02:16:04.680 His SEC chairman, the SECT and Exchange chairman is pro bitcoin. 2439 02:16:05.199 --> 02:16:07.960 They are talking about bitcoin reserve. If you guys in 2440 02:16:08.000 --> 02:16:10.279 the said I was on doing bitcoin reserve. I think 2441 02:16:10.399 --> 02:16:13.000 the state of Florida, I think the lot of our 2442 02:16:13.039 --> 02:16:16.359 states are doing bitcoin reserves. Are better is doing bitcoin reserve. 2443 02:16:16.479 --> 02:16:19.760 So there seems to be a you know, the governments 2444 02:16:19.760 --> 02:16:23.640 seems to like bitcoin, which means demand is up. So 2445 02:16:23.800 --> 02:16:27.600 because demand is our prices could go up. I don't 2446 02:16:27.720 --> 02:16:31.359 yet see. I saw was micro strategy that I talk 2447 02:16:31.399 --> 02:16:35.920 about how Michael Cillo. I also saw a guy and 2448 02:16:36.079 --> 02:16:39.239 I forget he was talking about how they were using 2449 02:16:39.399 --> 02:16:44.799 bitcoin as collateral for property lending, which I found was 2450 02:16:45.079 --> 02:16:48.120 very very interesting in that they were using when they 2451 02:16:48.200 --> 02:16:50.440 when you come and borrow. You want to build a 2452 02:16:50.559 --> 02:16:55.319 whole apartment, compt with them. They make you buy bitcoin, 2453 02:16:55.959 --> 02:16:59.879 and they do bitcoin acts as security for the loaned 2454 02:17:00.040 --> 02:17:03.120 given to you, so that if you can't pay back, 2455 02:17:03.239 --> 02:17:05.840 they're able to then take this to bitcoin as collateral. 2456 02:17:05.959 --> 02:17:07.159 That was very very interesting. 2457 02:17:07.639 --> 02:17:10.559 Why it was interesting work because it's busy utility because 2458 02:17:10.600 --> 02:17:14.840 before now bitcoin was only going up because of the 2459 02:17:14.959 --> 02:17:18.399 greater food theory. If I buy it today, I can 2460 02:17:18.520 --> 02:17:20.879 sell soyer tomorrow. That's greater food theory. 2461 02:17:21.440 --> 02:17:24.840 But now I think we're seeing utility coming to the play. 2462 02:17:24.920 --> 02:17:27.959 I mean, if that guy's idea catches on that, if 2463 02:17:28.000 --> 02:17:30.600 you want to buy a house, the bank will tend 2464 02:17:30.680 --> 02:17:34.559 to also buy bitcoin. So when you buy bitcoin, which 2465 02:17:34.600 --> 02:17:38.319 your collateral, if the property you buy you can only 2466 02:17:38.600 --> 02:17:41.639 service the collateral, then the bank will take a bitcoin 2467 02:17:41.760 --> 02:17:44.000 and sell. So it looks like a bit off your 2468 02:17:44.040 --> 02:17:47.719 tuties coming in space. For generally, lots. 2469 02:17:47.479 --> 02:17:49.840 Of governments seemed to be open to the idea. 2470 02:17:49.920 --> 02:17:51.680 How can I just into that. 2471 02:17:53.120 --> 02:17:55.639 If you think that you have someone you can invest 2472 02:17:55.760 --> 02:17:58.520 five ten percent of your portfolio in it, if you 2473 02:17:58.600 --> 02:18:02.079 can stomach the risk, that's how you can invest in it, all. 2474 02:18:02.040 --> 02:18:05.040 Right, all right, thank you. 2475 02:18:05.280 --> 02:18:06.479 You're welcome. He catch. 2476 02:18:10.280 --> 02:18:14.799 I can, yeah, thank you all listening for your spaces 2477 02:18:14.840 --> 02:18:15.600 every Sunday. 2478 02:18:16.840 --> 02:18:20.120 I just want to have a question here. If, for instance, 2479 02:18:20.959 --> 02:18:23.879 I don't receive dividends on its clusters then holding and 2480 02:18:24.120 --> 02:18:26.879 who do I contact? Is it my my broker or 2481 02:18:26.959 --> 02:18:29.879 the registrar for that? What's cluster the registrar to the 2482 02:18:29.879 --> 02:18:35.239 registrat Okay, okay, the brocast the broker happened to do that? 2483 02:18:35.319 --> 02:18:39.079 You're distract yeah, okay, perfect, all right, thank you. 2484 02:18:39.479 --> 02:18:43.440 This this is year of Arsenal, and I don't see 2485 02:18:43.479 --> 02:18:49.680 any year of asking for speech year of arsenal. 2486 02:18:49.799 --> 02:18:56.120 That's not name the just say yes speak Daniel Blair. Okay, 2487 02:18:56.200 --> 02:18:57.959 So thank you for the opportunity. 2488 02:18:58.239 --> 02:18:59.840 I've been following the space for. 2489 02:19:01.159 --> 02:19:02.200 So my question is. 2490 02:19:03.840 --> 02:19:10.520 Basically a Techi brand brand companies and lot firms. So 2491 02:19:11.920 --> 02:19:14.079 over because of the day, I've been able to amasive 2492 02:19:14.120 --> 02:19:18.760 of resources to go into business. The restaurant business persiblity 2493 02:19:18.879 --> 02:19:22.559 is doing work. So in addition to that, I also 2494 02:19:22.639 --> 02:19:26.479 got a coupul of books that my female So this 2495 02:19:26.680 --> 02:19:33.000 particular space is talking about converting your income to passive income, 2496 02:19:33.479 --> 02:19:36.319 which I find interesting because it is something. 2497 02:19:36.120 --> 02:19:39.479 I've been hoping to achieve during the end of this 2498 02:19:39.600 --> 02:19:40.440 year or lness. 2499 02:19:41.159 --> 02:19:43.360 So basically the business that I have been. 2500 02:19:43.239 --> 02:19:46.600 Able to start this year and is running, the restaurant business, 2501 02:19:46.799 --> 02:19:50.600 is regarding my whole attention, my whole service and older. 2502 02:19:51.040 --> 02:19:52.479 So right now I'm. 2503 02:19:52.440 --> 02:19:56.040 Trying to transition into having maybe one or two other 2504 02:19:56.760 --> 02:19:59.200 business would require us much of my attention. 2505 02:19:59.680 --> 02:20:04.120 So I what considering maybe I could get a shop. 2506 02:20:03.959 --> 02:20:08.959 To buy electronicst traser all ourselves, maybe low liquidity goods 2507 02:20:09.040 --> 02:20:11.040 that could maybe put someone there. 2508 02:20:11.040 --> 02:20:11.959 I would require me to. 2509 02:20:12.040 --> 02:20:15.520 Be that constant, or maybe just get a bike or 2510 02:20:15.639 --> 02:20:17.040 cake then get a driver. 2511 02:20:17.440 --> 02:20:19.479 So I want to have What are the key is 2512 02:20:19.639 --> 02:20:20.799 that we watch out for. 2513 02:20:21.399 --> 02:20:24.360 When transiting your your your. 2514 02:20:24.319 --> 02:20:29.360 Finances from active and steadying come to passively Because if you. 2515 02:20:29.360 --> 02:20:32.159 Fit this wrong, if we lose everything, you could. 2516 02:20:32.000 --> 02:20:33.600 Lose the one that is active, you would not. 2517 02:20:33.879 --> 02:20:35.719 So the world that is that is passive. 2518 02:20:36.000 --> 02:20:38.159 So what are the keys stay by stave kind of 2519 02:20:38.319 --> 02:20:38.920 that we could do? 2520 02:20:39.159 --> 02:20:41.280 And do we are we navigate. 2521 02:20:41.000 --> 02:20:44.479 Ourselves so that to be seas and are we so sister, 2522 02:20:44.719 --> 02:20:45.000 thank you? 2523 02:20:45.360 --> 02:20:45.559 Yeah? 2524 02:20:45.799 --> 02:20:48.079 I think the case is to make sure that that's 2525 02:20:48.159 --> 02:20:50.520 wherever you're infested is going to be managed by some 2526 02:20:50.719 --> 02:20:53.040 that goes what he's doing. I hear you say you 2527 02:20:53.079 --> 02:20:56.520 want to buy a case active. It's not passive because 2528 02:20:56.559 --> 02:20:58.840 you have to fool like a care every day. So 2529 02:20:58.959 --> 02:21:01.200 you want to in first something that you're not going 2530 02:21:01.280 --> 02:21:05.280 to be involved in, but the money comes. Anything you're 2531 02:21:05.280 --> 02:21:07.000 going to put you are going to be worried about 2532 02:21:07.200 --> 02:21:10.200 in the income commun it's not passive. So that's the person. 2533 02:21:10.280 --> 02:21:12.879 I'll say, who is the manager of that place you 2534 02:21:12.959 --> 02:21:14.879 want to put your money? Is it a corporate? Is 2535 02:21:14.879 --> 02:21:17.200 it a person? If it's a present, how long has 2536 02:21:17.239 --> 02:21:20.000 he done what he's doing? Is it giving you a guarantee? 2537 02:21:20.280 --> 02:21:22.000 Is like that? I mean the same way you invest 2538 02:21:22.200 --> 02:21:24.360 in something those same questions. It all comes to you 2539 02:21:24.440 --> 02:21:28.520 and says, I want to go to America and buy apples, ninty, 2540 02:21:29.079 --> 02:21:32.600 how do you who is here? Does ever passport? Or 2541 02:21:32.719 --> 02:21:36.159 how can it bring apples to America? Almost questions you 2542 02:21:36.280 --> 02:21:38.600 asked is simely you want to ask this present before 2543 02:21:38.600 --> 02:21:42.159 you invest your money. Passive means you and not involved 2544 02:21:43.079 --> 02:21:46.000 in the running or worrying about that income, but you 2545 02:21:46.079 --> 02:21:48.440 get money. So think of it that way. If I 2546 02:21:48.520 --> 02:21:51.079 give a want to diagnot this cement I don't worry 2547 02:21:51.079 --> 02:21:51.680 about cement. 2548 02:21:51.879 --> 02:21:53.520 I know it's not going to be to bedd back. 2549 02:21:53.639 --> 02:21:55.319 I don't have to worry about what they're packing their 2550 02:21:55.440 --> 02:21:58.239 cas Where I get that limestone from, I just get 2551 02:21:58.319 --> 02:22:01.719 an income compassment. That's what passively incompits. Right, doesn't mean 2552 02:22:01.719 --> 02:22:04.440 you have You can buy equity, you can buy property, 2553 02:22:04.520 --> 02:22:06.280 you can invest in that, but it has to be 2554 02:22:06.479 --> 02:22:10.159 something that you are not going to be involved in 2555 02:22:10.319 --> 02:22:14.520 so you can then dives fiveway from active to passive 2556 02:22:14.639 --> 02:22:15.840 doesn't answer the question. 2557 02:22:15.760 --> 02:22:20.120 Sir about our life. 2558 02:22:21.440 --> 02:22:24.680 So in in in I don't want to do. 2559 02:22:26.600 --> 02:22:30.200 Love with physical business grand but I wanted to be. 2560 02:22:30.200 --> 02:22:31.120 A kind of passive. 2561 02:22:33.159 --> 02:22:37.040 You can't be you if if you are involved in 2562 02:22:37.159 --> 02:22:39.600 the business is not passive. You can't have the second 2563 02:22:39.719 --> 02:22:44.799 business and call it passive. It's still active income. So 2564 02:22:45.000 --> 02:22:47.360 if you own a world restaurant, then you go buy 2565 02:22:48.120 --> 02:22:51.360 a bottling company, those are active incomes. They're not passive 2566 02:22:51.360 --> 02:22:55.079 because you are involved in the bottling company and the restaurant. 2567 02:22:55.200 --> 02:22:58.079 The whole idea of passive is a diversify your income 2568 02:22:58.559 --> 02:23:00.760 away from what you are going to be doing day 2569 02:23:00.920 --> 02:23:04.000 by day to where you simply received the return from 2570 02:23:04.000 --> 02:23:05.600 my investment that's the whole idea. 2571 02:23:06.840 --> 02:23:09.239 Oh that was listening. 2572 02:23:09.559 --> 02:23:14.159 Thank you, all right, super let me get Isaiah, Isaiah, 2573 02:23:14.280 --> 02:23:18.159 you'll be your intern is breaking? Isaia realised this start Isaiah? 2574 02:23:18.200 --> 02:23:18.559 Go ahead? 2575 02:23:20.079 --> 02:23:24.280 Isaiah heard it? Yeah, yeah, I see your. 2576 02:23:24.200 --> 02:23:29.159 Intence is very very bad, Isaiah. Can you speak as 2577 02:23:29.200 --> 02:23:32.760 I do once? Okay, I've got a year of arsenal? 2578 02:23:32.920 --> 02:23:41.239 Yeah please, can you speak year of arsenal? Le's get 2579 02:23:41.360 --> 02:23:42.920 a stop kudos? 2580 02:23:44.440 --> 02:23:44.639 Stop? 2581 02:23:44.959 --> 02:23:54.120 Could fine? I do not appreciate you. 2582 02:23:54.319 --> 02:23:54.479 I have. 2583 02:23:56.440 --> 02:23:57.600 Well invest. 2584 02:23:58.799 --> 02:24:00.360 And I'm push I did. 2585 02:24:03.239 --> 02:24:07.479 That's fun, but okay, but I. 2586 02:24:07.520 --> 02:24:11.079 Don't invest in all the international. 2587 02:24:14.280 --> 02:24:19.440 Station and your others. I can't hear Christmas. 2588 02:24:19.520 --> 02:24:21.680 Can you fix your audio comeback? I can really hear 2589 02:24:21.719 --> 02:24:22.200 what you're saying? 2590 02:24:23.479 --> 02:24:29.879 Yeah, go ahead, okay, I said, I am annoying business ergy. 2591 02:24:30.760 --> 02:24:37.000 That's fun. I wanted because Christmas. But I can't hear 2592 02:24:37.040 --> 02:24:39.600 you fix the audio comeback. I can't hear what you're saying. 2593 02:24:40.040 --> 02:24:46.360 Let's get speaker. Let's get this year of fast. You're 2594 02:24:46.520 --> 02:24:49.079 fasten calling three times. I'm not hearing anything. 2595 02:24:50.959 --> 02:24:53.879 You're a fast three go ahead? 2596 02:24:58.879 --> 02:24:59.079 Yeah. 2597 02:24:59.639 --> 02:25:01.680 Thanks for all I do in the space. 2598 02:25:02.040 --> 02:25:03.000 So just. 2599 02:25:04.479 --> 02:25:08.360 Me with regard to commercial papers, I. 2600 02:25:08.559 --> 02:25:12.600 Like you to help with what's what's the what's the 2601 02:25:12.840 --> 02:25:16.200 achieve or what do I focus on between the discount 2602 02:25:16.239 --> 02:25:17.680 rates and the imply yield? 2603 02:25:18.559 --> 02:25:20.399 What should be my focus? 2604 02:25:20.639 --> 02:25:22.479 Is it a discouverry or the imply you? 2605 02:25:22.879 --> 02:25:23.639 That's one question. 2606 02:25:23.799 --> 02:25:27.440 Then secondly, how do I approach from Nigeria and investing 2607 02:25:27.479 --> 02:25:28.959 index funds in the US? 2608 02:25:29.879 --> 02:25:30.200 Thank you? 2609 02:25:30.879 --> 02:25:33.000 So they are what you want to look out for. 2610 02:25:33.600 --> 02:25:37.680 I do what you say, imply friendly, YouTuber, charity your 2611 02:25:37.719 --> 02:25:39.920 bicycle to the market. Correct, I just saying, right. 2612 02:25:42.799 --> 02:25:44.399 Not at all, I'm actually buying like. 2613 02:25:46.719 --> 02:25:47.000 Okay. 2614 02:25:47.040 --> 02:25:52.079 So my stockbroker frequently sends you know, there are couple of. 2615 02:25:52.319 --> 02:25:55.399 Commercial papers out there and all that, so they usually 2616 02:25:55.479 --> 02:25:58.639 send it to me value. So I just wanted to 2617 02:25:58.760 --> 02:25:59.920 know the difference. 2618 02:26:00.079 --> 02:26:02.639 For example, one of the that I got recently, the 2619 02:26:02.760 --> 02:26:06.159 discounts rate was twenty four point ninety eight. 2620 02:26:06.159 --> 02:26:10.000 Percent and then implied yield was twenty eight point. 2621 02:26:09.879 --> 02:26:15.159 Five the discount I think that's the CPN discount rate is. 2622 02:26:15.639 --> 02:26:18.200 So look at this. To it right when the company 2623 02:26:18.319 --> 02:26:21.600 when the company issues the commercial paper, the issues the 2624 02:26:21.639 --> 02:26:26.239 paper on Monday, and they're paying you ten percent. If 2625 02:26:26.280 --> 02:26:29.680 you buy the paper on that same Monday, you're going 2626 02:26:29.719 --> 02:26:33.879 to get ten percent. But let's say you buy the 2627 02:26:33.920 --> 02:26:39.239 paper on Thursday. On Thursday, interest rates in Nigeria has changed. 2628 02:26:39.239 --> 02:26:42.520 That's the discountry you're talking about. The interesting have changed. 2629 02:26:43.159 --> 02:26:46.440 If interested go up the. 2630 02:26:46.520 --> 02:26:50.159 Present the bond comes down. If it doesn't go down, 2631 02:26:50.719 --> 02:26:52.120 the person of the bunk goes up. 2632 02:26:52.639 --> 02:26:54.959 So when they give you the implied year, they are 2633 02:26:55.159 --> 02:26:58.479 telling you that if you are buying today based on 2634 02:26:58.600 --> 02:27:02.040 the interest rates in their account me, your implied year 2635 02:27:02.120 --> 02:27:05.159 is not that ten percent, but whatever yield that you 2636 02:27:05.280 --> 02:27:07.399 are seeing that are according to you. So if you 2637 02:27:07.520 --> 02:27:11.280 buy that bond, you can buy at a premium at 2638 02:27:11.319 --> 02:27:12.000 a discount. 2639 02:27:12.120 --> 02:27:13.360 That's the implied yield. 2640 02:27:13.399 --> 02:27:16.479 That's the real not the coupon, not what the company 2641 02:27:16.559 --> 02:27:19.280 paid on Monday, but what the company is, what the 2642 02:27:19.360 --> 02:27:21.200 stock is not, or what the bond is now saying 2643 02:27:21.319 --> 02:27:24.680 as on Thursday. That's the implied yield. So when you 2644 02:27:24.760 --> 02:27:27.760 are buying secondary market with me that you are buying 2645 02:27:27.840 --> 02:27:31.120 from them they've bought, They're said to you you want 2646 02:27:31.159 --> 02:27:33.399 to focus on the implied year, that's what you get. 2647 02:27:34.239 --> 02:27:36.680 But if you're buying at the primary market when the 2648 02:27:36.760 --> 02:27:40.079 company issued, you can only focus on coopon. So the 2649 02:27:40.159 --> 02:27:42.479 answer phrase, you're going to look at the implied year. 2650 02:27:42.559 --> 02:27:45.239 That's what you're really going to get if you give 2651 02:27:45.280 --> 02:27:50.239 them yourn ira makes sense, all right, I think that 2652 02:27:50.360 --> 02:27:52.200 makes sense to that impliedly thinking. 2653 02:27:52.680 --> 02:27:56.639 So how do you approach invested in index. 2654 02:27:56.440 --> 02:28:00.239 Phones in the viewers so much looking like something. 2655 02:28:00.079 --> 02:28:03.079 In that, you know, because I'm usually very cautious or. 2656 02:28:03.159 --> 02:28:07.799 Rather mindful about fees and not that, not in from 2657 02:28:07.920 --> 02:28:10.920 the loop fees and all that, but just generally. 2658 02:28:10.639 --> 02:28:12.479 Working with a brooker and all that, how do I 2659 02:28:12.639 --> 02:28:14.760 how do I go from Yeah, just just find the 2660 02:28:14.840 --> 02:28:16.840 index fund that I want to invest in. You can 2661 02:28:17.000 --> 02:28:19.399 you can buy an index et F like all the 2662 02:28:19.680 --> 02:28:23.719 vt I for America or V for America to find 2663 02:28:23.760 --> 02:28:26.120 the one you want to invest in. What markets are 2664 02:28:26.159 --> 02:28:29.680 you want to index? You want to again exposed to index? 2665 02:28:30.280 --> 02:28:33.639 Find it out In Nigeria we now have absolutely that 2666 02:28:33.799 --> 02:28:36.879 offer you access to the US markets. Rest Ntini, a 2667 02:28:37.120 --> 02:28:41.239 second Registan, there's Shaka, there's Cowie, there's a Bamboo. I 2668 02:28:41.280 --> 02:28:44.040 think there's a rise as well. All these apps. 2669 02:28:44.000 --> 02:28:45.440 Allow you'll give you a campaign. 2670 02:28:45.559 --> 02:28:49.959 I'm buying the index fund abroad or an index ETF. 2671 02:28:50.040 --> 02:28:51.760 You can buy an ETA that tries to index. 2672 02:28:51.840 --> 02:28:55.319 As well, So find whatever you want to buy GOL 2673 02:28:55.520 --> 02:28:58.799 and say that's buy UK market, just like what's what's 2674 02:28:58.840 --> 02:29:01.000 the equity index for you? Market to give it to 2675 02:29:01.040 --> 02:29:03.319 you and there and they categorize in anywhere. It can 2676 02:29:03.440 --> 02:29:06.600 give you only a blue chip or small caps or 2677 02:29:06.799 --> 02:29:10.200 large caps whatever. If you buy VT, I like, I 2678 02:29:10.319 --> 02:29:14.600 give more fility because it's Vanguard. Verus's massive and cost alone, 2679 02:29:14.600 --> 02:29:19.959 and I always like ETFs that. In response, Vanguard has 2680 02:29:20.000 --> 02:29:23.840 something called VT. If so VT media will buy all 2681 02:29:23.879 --> 02:29:28.239 the stocks on earth that are good quote unquote, BT's 2682 02:29:28.360 --> 02:29:31.399 just you're gonna buy everything after that VIS, there's VT I. 2683 02:29:31.760 --> 02:29:35.799 So your VTI is just American stores, five thousand of them. 2684 02:29:35.840 --> 02:29:39.840 About five after VT, there's VO. VE always talk about 2685 02:29:40.040 --> 02:29:43.760 not just American stocks but the top five hundred. So 2686 02:29:43.879 --> 02:29:46.840 there's VT, the VT either VO. So you can see 2687 02:29:46.840 --> 02:29:48.440 how to break it down. So if you want to 2688 02:29:48.479 --> 02:29:52.399 be exposed to the larger market VT, VVT just it's 2689 02:29:52.479 --> 02:29:55.280 just American market VT. I just suppose to that's five 2690 02:29:55.319 --> 02:29:57.799 on the American stores view. If you don't have to 2691 02:29:57.840 --> 02:30:01.040 buy American store to buy everything's from a proper American stalk. 2692 02:30:01.079 --> 02:30:04.000 There is b x U s SO b X us. 2693 02:30:04.440 --> 02:30:09.200 Just buy everything Shell Toyota. Now Americans talk, so the anside, 2694 02:30:09.440 --> 02:30:11.680 find where you find where you want to be exposed to. 2695 02:30:11.760 --> 02:30:14.159 If you want to buy Greece, look for the Greece 2696 02:30:14.239 --> 02:30:16.760 index one. Then you go to your actional Apple sty 2697 02:30:16.840 --> 02:30:20.760 Do they have this index form as listened on the app? 2698 02:30:20.840 --> 02:30:21.280 They have it? 2699 02:30:21.559 --> 02:30:24.520 Fantastic? Don't have it? Then you have to do something else. 2700 02:30:24.799 --> 02:30:27.920 Does I work for you? Okay, that's fine, thank you. 2701 02:30:28.040 --> 02:30:31.799 So you're rather each year I prefer its just for 2702 02:30:31.920 --> 02:30:32.760 certain abases. 2703 02:30:32.799 --> 02:30:35.079 But if you can in this one, your call. 2704 02:30:36.440 --> 02:30:37.680 Okay, that's thank you. 2705 02:30:37.879 --> 02:30:38.200 API. 2706 02:30:38.479 --> 02:30:40.479 You're welcome as I want to inventor as a. 2707 02:30:42.479 --> 02:30:48.200 Okay, good evening, sir, Fine, thank you so much for 2708 02:30:48.280 --> 02:30:49.280 the good book you're doing. 2709 02:30:50.479 --> 02:30:53.440 And I just want to make but this might not 2710 02:30:53.600 --> 02:30:55.799 be very related, but I've been trying to like. 2711 02:30:57.479 --> 02:31:01.000 Hate you on your profile for a while. Now be 2712 02:31:01.040 --> 02:31:03.120 concerning an idea. 2713 02:31:03.120 --> 02:31:05.440 I don't know if you have the mentorship program that 2714 02:31:05.680 --> 02:31:07.719 work and paying to enroll in. 2715 02:31:08.719 --> 02:31:09.639 I have been. 2716 02:31:10.239 --> 02:31:13.959 I have been in residential real estates here and. 2717 02:31:15.520 --> 02:31:18.879 Has been very great, Like this year was extraordinary for me. 2718 02:31:19.680 --> 02:31:22.399 And next year I want to ventrain into commercial real 2719 02:31:22.520 --> 02:31:25.280 estate and do other things. I had before. 2720 02:31:25.399 --> 02:31:30.000 Now, I tried my best to study something to do 2721 02:31:30.120 --> 02:31:33.639 someone life schools majorly from outside the country. 2722 02:31:33.399 --> 02:31:37.559 Like I'm Indians and because too just like learn more about. 2723 02:31:37.319 --> 02:31:43.760 Realesting, financing another and in me clearly that real est 2724 02:31:44.040 --> 02:31:47.319 real estate is more about filers than about engineering or 2725 02:31:47.559 --> 02:31:51.079 editing else. And I've been trying and from the need 2726 02:31:51.159 --> 02:31:52.239 to I've been able. 2727 02:31:52.079 --> 02:31:57.079 To study basically from an online school that are like 2728 02:31:57.559 --> 02:31:58.000 natures that. 2729 02:31:58.120 --> 02:32:01.360 I wanted to do with that and you're asation all 2730 02:32:01.399 --> 02:32:05.159 the digraphy work in Nigeria and the economica. 2731 02:32:04.680 --> 02:32:07.399 This is uh the other thing that there are. 2732 02:32:08.319 --> 02:32:11.879 I felt like they still envoid, So I said, what 2733 02:32:11.959 --> 02:32:15.760 what was the question? Yeah? So the best is this 2734 02:32:18.639 --> 02:32:20.559 if you have a page mentorship program that. 2735 02:32:20.600 --> 02:32:25.399 With work and already and secondly, if there is any 2736 02:32:25.600 --> 02:32:29.399 if any way that I have a if the if 2737 02:32:29.440 --> 02:32:30.159 there is any. 2738 02:32:30.079 --> 02:32:33.879 Way, if it is any way that I can get 2739 02:32:33.920 --> 02:32:34.959 in touch with you maybe. 2740 02:32:34.760 --> 02:32:37.479 After this, after this night, for us to like maybe 2741 02:32:37.520 --> 02:32:39.120 have a talk, like if. 2742 02:32:39.399 --> 02:32:42.479 I can get your your email or maybe. 2743 02:32:42.399 --> 02:32:44.079 Contact no about that we could talk. 2744 02:32:45.760 --> 02:32:47.680 I don't I don't have any paid mentorship. 2745 02:32:47.920 --> 02:32:48.760 I don't need to do that. 2746 02:32:48.840 --> 02:32:50.760 I just do this what I do on Twitter if 2747 02:32:50.799 --> 02:32:52.280 you want to, you can send me a dear if 2748 02:32:52.319 --> 02:32:54.000 you want to buy. This is all I do, just 2749 02:32:54.239 --> 02:32:59.840 this sort on Twitter and yeah but it talks me. 2750 02:33:00.840 --> 02:33:04.120 But what kin I do? Like if you UNDERSTANDE. So 2751 02:33:04.239 --> 02:33:06.840 that's a project, I mean, so let's talk about it, 2752 02:33:06.879 --> 02:33:08.559 you know. That's all I see. 2753 02:33:10.799 --> 02:33:15.879 What you see? Yeah, good evening, Talu, Hi, thank you 2754 02:33:16.079 --> 02:33:17.520 for this very well. 2755 02:33:17.600 --> 02:33:17.879 Thank you. 2756 02:33:18.520 --> 02:33:21.479 I've been listening for what I'm trying now. 2757 02:33:22.600 --> 02:33:26.399 So I just want to ask again because you did 2758 02:33:26.559 --> 02:33:27.799 want simple math. 2759 02:33:28.280 --> 02:33:30.600 We are comparing rein TI. 2760 02:33:30.600 --> 02:33:35.879 Income resors over the cost of the project you did 2761 02:33:36.280 --> 02:33:39.600 any little about one fifteen came in too, about six percent. 2762 02:33:40.000 --> 02:33:44.000 But I want to ask, are we. 2763 02:33:44.120 --> 02:33:46.079 Not considering situations where. 2764 02:33:46.399 --> 02:33:49.319 You're paying me on the next year or twenty meal 2765 02:33:49.840 --> 02:33:52.200 your reigning school to go. 2766 02:33:52.319 --> 02:33:54.360 To like twenty million or ten million. 2767 02:33:54.760 --> 02:33:56.879 Isn't that you were to also look at it like 2768 02:33:57.719 --> 02:33:58.840 rainy paying com is not? 2769 02:33:59.360 --> 02:34:00.840 That's no. 2770 02:34:01.040 --> 02:34:03.959 I mean your income is s paradum, right, and it 2771 02:34:04.079 --> 02:34:04.639 is s paradum. 2772 02:34:04.840 --> 02:34:07.719 So look at all where if you have one nyr, 2773 02:34:07.920 --> 02:34:10.360 you can invest in stock markets, you can invest in 2774 02:34:10.399 --> 02:34:13.079 a bond market, you can invest in a dollar for 2775 02:34:13.239 --> 02:34:16.360 pricing market. Youre also invest in property. So how do 2776 02:34:16.479 --> 02:34:20.319 we compare across different as a classes? Where to compare 2777 02:34:20.360 --> 02:34:25.360 the return or the yield? So to compare property with bonds, 2778 02:34:25.799 --> 02:34:28.440 were to compare what they give us if we invest 2779 02:34:28.479 --> 02:34:31.520 the same amount of money. That's what we call the yield. 2780 02:34:31.959 --> 02:34:34.639 So how do we calculate yield? Yield is what we 2781 02:34:34.879 --> 02:34:38.879 make divided by what we have invested, what we make 2782 02:34:38.959 --> 02:34:41.360 for that period. So let's pike it period. You can 2783 02:34:41.440 --> 02:34:44.799 picket pieros to generate in twenty four till the summer 2784 02:34:44.879 --> 02:34:45.440 twenty be four. 2785 02:34:45.520 --> 02:34:46.719 And the point that the meaning is if. 2786 02:34:46.639 --> 02:34:49.799 You take a one hundred million and you buy bonds, 2787 02:34:50.440 --> 02:34:53.040 you're come back to pay you twenty test percent. This 2788 02:34:53.159 --> 02:34:55.959 is the government. So that means there's no risk twenty 2789 02:34:56.840 --> 02:34:59.600 to ten two percent risk free quote unquote rights from 2790 02:34:59.639 --> 02:35:02.920 the government. So part that's on one side. If I 2791 02:35:03.159 --> 02:35:06.319 take a one hundred million and I buy property, what 2792 02:35:06.559 --> 02:35:09.879 is the rent? Can do you know any based lucky 2793 02:35:09.920 --> 02:35:14.200 that's paying more than ten dollars rants? What about a company? 2794 02:35:14.360 --> 02:35:16.879 Is rent is more than ten million based like in 2795 02:35:17.000 --> 02:35:23.000 lucky not dollar then irant place lucky range. Yeah, So 2796 02:35:23.280 --> 02:35:27.440 if there's no other based twenty millionaire rents in lucky. 2797 02:35:28.000 --> 02:35:31.840 You know that right, twenty million paranom so and that's 2798 02:35:31.920 --> 02:35:32.520 the right town. 2799 02:35:33.120 --> 02:35:35.719 So if you look at twenty million has to give 2800 02:35:35.760 --> 02:35:38.399 you twenty to make twenty percent to match the federal 2801 02:35:38.440 --> 02:35:43.479 re born, you have to do twenty million rends. So 2802 02:35:43.680 --> 02:35:47.120 you can see that they return. The return on property 2803 02:35:47.200 --> 02:35:50.520 is very very low. Where property excels is that the 2804 02:35:50.959 --> 02:35:56.559 property rises in patient inflation, so the asset value of 2805 02:35:56.799 --> 02:36:02.440 property will bid inflation. What they to or not? Does 2806 02:36:02.479 --> 02:36:03.079 that make sense? 2807 02:36:04.360 --> 02:36:04.559 Yeah? 2808 02:36:04.639 --> 02:36:08.360 It does, Thank you very That's what That's what I'm saying. 2809 02:36:10.200 --> 02:36:10.799 I appreciate it. 2810 02:36:10.959 --> 02:36:11.639 Thank you very much. 2811 02:36:11.959 --> 02:36:13.159 Are very welcome. 2812 02:36:13.280 --> 02:36:16.440 Sorry, all right, g w about you soon. Let's get 2813 02:36:16.520 --> 02:36:20.000 a show show hopping right in what it might show 2814 02:36:24.079 --> 02:36:25.159 didn't miss economy. 2815 02:36:28.680 --> 02:36:32.200 So I really liked the last question you answered, and 2816 02:36:33.399 --> 02:36:35.399 just to say again, I joined it so you might. 2817 02:36:35.319 --> 02:36:38.959 Have handled my case. I just put it out there too. 2818 02:36:40.319 --> 02:36:44.159 I've been thinking of this passing campaign and last month I. 2819 02:36:45.799 --> 02:36:47.879 Got the least for an apartments. 2820 02:36:47.360 --> 02:36:52.520 In my area on the mainland for just saying it 2821 02:36:53.000 --> 02:36:57.639 mini flat, and I got it for five million, and 2822 02:36:57.840 --> 02:37:01.840 the plan was to it for seventeen years and the plan. 2823 02:37:01.920 --> 02:37:02.760 Was for me to. 2824 02:37:04.959 --> 02:37:07.879 You know, just have something that brings in rents yearly. 2825 02:37:08.360 --> 02:37:09.959 So my corcuditions were. 2826 02:37:11.479 --> 02:37:12.159 In the area. 2827 02:37:12.399 --> 02:37:14.840 On the average, rents for the last on the average 2828 02:37:14.879 --> 02:37:16.000 is about like for Amerricane. 2829 02:37:16.639 --> 02:37:18.920 So I don't know. 2830 02:37:19.000 --> 02:37:20.840 I just want to like try it out and then 2831 02:37:20.959 --> 02:37:24.200 see how see how it works out it. So my plan, 2832 02:37:24.440 --> 02:37:26.959 like I said, was just to get it. 2833 02:37:27.159 --> 02:37:28.920 I'm not wait for the seventeen years. 2834 02:37:29.920 --> 02:37:30.040 Now. 2835 02:37:30.120 --> 02:37:34.200 Basically, what I'm thinking of this is, I don't know, you. 2836 02:37:34.239 --> 02:37:36.479 Know, it was developed by developers, so I'm not. 2837 02:37:36.600 --> 02:37:38.719 Like pretty sure if it's going to. 2838 02:37:39.159 --> 02:37:40.319 Last for seventeen years. 2839 02:37:40.360 --> 02:37:41.719 So I'm thinking. 2840 02:37:44.000 --> 02:37:46.280 Get friends for three to four years or five years, 2841 02:37:47.120 --> 02:37:49.840 and then at that point sell out and then maybe 2842 02:37:49.920 --> 02:37:50.840 invest the money. 2843 02:37:50.600 --> 02:37:51.559 In some something else. 2844 02:37:52.280 --> 02:37:55.440 So just said, you want to buy a property, so 2845 02:37:56.120 --> 02:37:59.639 at least did already I bought the ready for seventeen years. Yes, 2846 02:38:01.200 --> 02:38:02.000 you live for both. 2847 02:38:03.520 --> 02:38:06.920 I released this for seventeen years because it leads. 2848 02:38:08.360 --> 02:38:13.000 All right, yes, So and then, like I said. 2849 02:38:12.920 --> 02:38:16.079 Runs in the area is about like eight hundred thousand 2850 02:38:16.159 --> 02:38:16.840 on the average. 2851 02:38:17.159 --> 02:38:18.360 Okay, so what's the year? 2852 02:38:19.520 --> 02:38:21.319 So how much do you did you lose it for? 2853 02:38:23.799 --> 02:38:26.600 Okay, so let me rephrase, I didn't buy If someone 2854 02:38:26.840 --> 02:38:29.520 used this to me I know what what what I paid? 2855 02:38:30.799 --> 02:38:35.360 What was this a year? For the whole seventeen years? 2856 02:38:35.639 --> 02:38:38.959 Okay, So it's like I said, it's just a minute, 2857 02:38:39.000 --> 02:38:42.440 but it's not like not like it's a big apartments. 2858 02:38:43.319 --> 02:38:47.440 So everyone just wanted to real more so so to 2859 02:38:47.479 --> 02:38:50.000 say let's start over again. So how much you been 2860 02:38:50.040 --> 02:38:52.399 the guy? How much have been the guy? So I 2861 02:38:52.520 --> 02:38:55.239 paid the games I've been final for for for all 2862 02:38:55.280 --> 02:38:57.399 the years, for the years, So many years, for all 2863 02:38:57.399 --> 02:39:00.719 the years, so's to five million, divide by how how 2864 02:39:00.719 --> 02:39:06.040 many years? Seventeen years? So so every year you are 2865 02:39:06.200 --> 02:39:09.520 paying two hundred and acted four. Okay, So what's what's 2866 02:39:09.600 --> 02:39:11.319 your writer year? 2867 02:39:11.479 --> 02:39:14.479 So on the average on the average, now just looking 2868 02:39:14.520 --> 02:39:14.719 at it. 2869 02:39:18.000 --> 02:39:22.000 Okay, so you are making in terms of you let's 2870 02:39:22.040 --> 02:39:22.840 just use. 2871 02:39:24.399 --> 02:39:30.879 Let's just hundreds okay, so that would be fine, red year. 2872 02:39:32.520 --> 02:39:39.520 That's about years every year, yes, okay, most most question. 2873 02:39:40.200 --> 02:39:45.399 So my question now is uh, because of the. 2874 02:39:47.440 --> 02:39:50.000 Most most times don't Given the past few houses, they 2875 02:39:50.079 --> 02:39:52.559 don't really use like for to see materials and all 2876 02:39:52.639 --> 02:39:57.440 of that. So I'm taking the possibility as time goes 2877 02:39:57.520 --> 02:39:59.879 by it would be used. 2878 02:40:00.040 --> 02:40:04.239 And on the house that's ten years, you begin to 2879 02:40:04.520 --> 02:40:09.040 see like cracks and traces that you know it is material. 2880 02:40:09.639 --> 02:40:12.719 So I am thinking instead of me wasting for that time, 2881 02:40:13.719 --> 02:40:14.360 I just get. 2882 02:40:14.280 --> 02:40:19.399 Ready for saying for the city. And then so I 2883 02:40:19.600 --> 02:40:21.239 was how. 2884 02:40:24.159 --> 02:40:27.239 I'm not not since I still. 2885 02:40:27.040 --> 02:40:29.879 Have like at that time, I have like sile years. 2886 02:40:30.440 --> 02:40:32.840 What I mean, if I got to prop was beIN 2887 02:40:32.959 --> 02:40:35.479 me to six percent, I would sell it? 2888 02:40:35.959 --> 02:40:40.040 Would I sell it? It's based inflation. If it cracks 2889 02:40:40.319 --> 02:40:42.680 and put the money for five years, I've made my 2890 02:40:42.799 --> 02:40:47.120 money back the guy, right, So if you pay the guy. 2891 02:40:49.079 --> 02:40:49.840 Was a guy drunk. 2892 02:40:50.000 --> 02:40:52.159 He gave me this deal water. I mean you you 2893 02:40:52.520 --> 02:40:57.000 so there there are lots of those like this. Why 2894 02:40:57.040 --> 02:40:59.159 would he give you? I would give out the protein 2895 02:40:59.239 --> 02:41:02.120 for five you know, when he knows he can do 2896 02:41:02.280 --> 02:41:07.360 the same thing you're doing. Now, I'm not thinking for it. 2897 02:41:07.520 --> 02:41:11.200 But what I notice is most times they have multiple 2898 02:41:11.440 --> 02:41:14.639 of these projects going on and then they get stuck 2899 02:41:14.719 --> 02:41:17.200 and then exactly. 2900 02:41:17.399 --> 02:41:20.479 I mean, like you said, goop call. So that means 2901 02:41:20.760 --> 02:41:25.159 every year, if you have this for how many do 2902 02:41:25.280 --> 02:41:25.920 you make your break? 2903 02:41:26.559 --> 02:41:27.440 What's yours? Your breaking? 2904 02:41:27.639 --> 02:41:29.600 Look at your breaking, that's going to be your main thing. 2905 02:41:30.040 --> 02:41:33.639 Look at your Yeah, that's what your eye is called. 2906 02:41:33.799 --> 02:41:37.399 Your are your return return or your breaks? 2907 02:41:37.479 --> 02:41:38.360 Where are you going to make. 2908 02:41:38.280 --> 02:41:41.440 Your principal back? Make your principal back? First of all, 2909 02:41:42.200 --> 02:41:46.399 first they's okay, how much return to you? Because this deal, 2910 02:41:46.920 --> 02:41:50.239 if it's one hundred percent, when you do that the 2911 02:41:50.520 --> 02:41:53.200 first time, talk about okay, let's see that can set 2912 02:41:53.360 --> 02:41:55.639 up and all that if you can, if you can't 2913 02:41:55.680 --> 02:41:57.879 give it for the whole seventeen years a cash cow 2914 02:41:58.440 --> 02:42:00.840 because once you look at the principal, it just gives 2915 02:42:00.879 --> 02:42:03.799 you pure cash profit and the results are so high 2916 02:42:04.520 --> 02:42:07.479 that it bets inflation, like you said, but probably going 2917 02:42:07.559 --> 02:42:12.440 to be to maintain to protein for the next seventy years. 2918 02:42:12.440 --> 02:42:14.239 Who is that when you go to your account that 2919 02:42:14.399 --> 02:42:15.920 you have to dupreciate this building. 2920 02:42:15.799 --> 02:42:19.159 Very very carefully, so you have a reserve to face 2921 02:42:19.239 --> 02:42:21.159 the building of So I would not take all the 2922 02:42:21.239 --> 02:42:24.959 profits with as perfect I would side to renovate this building, 2923 02:42:25.040 --> 02:42:26.040 say in five years time. 2924 02:42:26.680 --> 02:42:29.040 So now we we reduce this to a Tuesday six 2925 02:42:29.120 --> 02:42:29.879 percent return. 2926 02:42:30.600 --> 02:42:33.159 I looked in some money for it for repairs and innovation, 2927 02:42:33.280 --> 02:42:35.639 so at that time you can plow it back into 2928 02:42:35.719 --> 02:42:38.440 the assets, bring it back up to speed every increase 2929 02:42:38.479 --> 02:42:41.440 events if it be possible. So you keep going maximizage 2930 02:42:41.479 --> 02:42:42.680 this us a deal. 2931 02:42:45.159 --> 02:42:45.920 Thank you so much. 2932 02:42:48.760 --> 02:42:55.120 Yea, honestly you put your hand up Odyssey, that's honestly INTOBC. 2933 02:42:55.440 --> 02:42:55.840 What's up? 2934 02:42:58.239 --> 02:43:02.319 I see your handles are going to speak. Okay, guys 2935 02:43:02.639 --> 02:43:04.159 round off toogle. 2936 02:43:06.159 --> 02:43:06.360 Yah. 2937 02:43:09.319 --> 02:43:12.360 Thank you before you do. I have before your patrol. 2938 02:43:12.479 --> 02:43:16.239 Why my name is should buy with this if farmer? 2939 02:43:16.440 --> 02:43:19.120 And I'm wanted to ask what you think. 2940 02:43:18.959 --> 02:43:23.600 About neutral phones and if it's advisable. Let's see someone 2941 02:43:23.719 --> 02:43:28.440 gets a loan and justus risky intro of farming. 2942 02:43:28.520 --> 02:43:31.840 And the loan return if he can split the loan. 2943 02:43:31.799 --> 02:43:35.600 Into to invest in nutral phones and used to rest 2944 02:43:35.840 --> 02:43:37.559 for the business, just to have. 2945 02:43:37.799 --> 02:43:38.719 That as a back up. 2946 02:43:38.959 --> 02:43:41.719 So I just wanted to get to know the everything, 2947 02:43:42.079 --> 02:43:46.520 to know the conditions and like windows, utra phones start paying. 2948 02:43:46.959 --> 02:43:47.360 That's all. 2949 02:43:48.799 --> 02:43:51.879 Let me ask the question to immutual phone is just 2950 02:43:52.799 --> 02:43:55.159 in for like an Susie phone. You put your money 2951 02:43:55.159 --> 02:43:58.280 together in a sou and take the money and invest 2952 02:43:58.360 --> 02:44:00.600 and you guys shared the returns. That's really your funds. 2953 02:44:01.319 --> 02:44:06.280 You put money together into a fund, hence the word 2954 02:44:06.680 --> 02:44:11.799 mutual fund. Many of you put money together into one fund. 2955 02:44:12.159 --> 02:44:15.680 The fund invests when the fund gets returns. The fund 2956 02:44:15.719 --> 02:44:19.440 shows returns back to you. So mutual fund simply means 2957 02:44:19.520 --> 02:44:22.200 that's what it means to your question, what if you 2958 02:44:22.200 --> 02:44:26.319 should borrow for the fun and all that? As a 2959 02:44:26.399 --> 02:44:30.879 general rule, I don't like people borrowing. Oh I tell 2960 02:44:30.920 --> 02:44:32.879 you what you're gonna do with the borrowing first? What 2961 02:44:33.000 --> 02:44:35.120 would they borrowing do on the firm? Tell me what 2962 02:44:35.239 --> 02:44:36.000 you want to money to. 2963 02:44:36.000 --> 02:44:36.559 Do on the fund? 2964 02:44:37.799 --> 02:44:40.760 Okay, I have an idea for the meets up that 2965 02:44:40.879 --> 02:44:43.000 I wouldn't want to divoge all of the futures that 2966 02:44:43.239 --> 02:44:46.520 it's with your tracking the degrees and getting meat and 2967 02:44:46.600 --> 02:44:49.079 all that, but it just basically needs put on a 2968 02:44:49.200 --> 02:44:50.200 kind of amazing future. 2969 02:44:50.319 --> 02:44:54.239 So I've already got like in front and just get 2970 02:44:54.319 --> 02:44:56.280 some funds to do some basic things like. 2971 02:44:56.600 --> 02:44:59.639 All right, so it's not it's not a guarantee. 2972 02:44:59.719 --> 02:45:02.120 Then if the meat out can work, the meets up 2973 02:45:02.200 --> 02:45:04.239 might not work, but it's not guarants it's going to work. 2974 02:45:04.559 --> 02:45:07.319 So because of that, I wouldn't advise you borrowing to 2975 02:45:07.399 --> 02:45:10.360 do that, because once you borrow, it's going to be 2976 02:45:10.479 --> 02:45:12.479 a term loan with me that you must pay the 2977 02:45:12.520 --> 02:45:15.639 bank back when it work it doesn't work, rather than 2978 02:45:15.760 --> 02:45:19.159 when you want to take a risk, you use equity 2979 02:45:19.559 --> 02:45:22.120 or what we call patient capital to take a risk. 2980 02:45:22.840 --> 02:45:27.040 So your family, friends, savings, low interests, put loans on 2981 02:45:27.120 --> 02:45:28.959 your compety. That's what you want to use to take 2982 02:45:29.000 --> 02:45:33.000 a risk because if you fail, you have time or 2983 02:45:33.200 --> 02:45:36.159 lower cost to repay if you take a bank loan 2984 02:45:36.319 --> 02:45:38.719 to take a risk investment. That's what bank loans are for. 2985 02:45:38.920 --> 02:45:42.239 Bank loans are for working capital. Means that, for instance, 2986 02:45:42.520 --> 02:45:45.399 you have an order to supply meat to somebody, but 2987 02:45:45.559 --> 02:45:47.680 you have no cash for the meats, or that they 2988 02:45:47.760 --> 02:45:51.200 have an helper, you can take a bank loan supply 2989 02:45:51.360 --> 02:45:54.280 the meat. The customer page people at the bank very 2990 02:45:54.360 --> 02:45:56.200 very short, very very targeted. 2991 02:45:56.239 --> 02:45:59.239 You can't issue use a bank loan to. 2992 02:45:59.360 --> 02:46:04.559 Invest because you have a fixed cost but an uncertain return. 2993 02:46:05.280 --> 02:46:06.920 So I would not to borrow for that. 2994 02:46:08.280 --> 02:46:10.280 Is that I gets you and I'm not trying to 2995 02:46:10.639 --> 02:46:14.639 be like that was why I wanted to like invested 2996 02:46:14.680 --> 02:46:15.760 in dragons. 2997 02:46:15.440 --> 02:46:16.120 Like do things. 2998 02:46:17.319 --> 02:46:21.079 What was the return? The bank is not fulish, right, 2999 02:46:21.200 --> 02:46:24.559 so what's the return on the loan? That's the returning 3000 02:46:24.639 --> 02:46:27.239 mutual phone? Can you guarantee the returning mutual fund? 3001 02:46:28.680 --> 02:46:33.040 The loan was about twenty percent interest. Mutrophones says they 3002 02:46:33.079 --> 02:46:34.639 have twenty between fifteen. 3003 02:46:35.920 --> 02:46:37.479 The way this is depending on. 3004 02:46:37.559 --> 02:46:43.000 The back but it's not it's not it's not guaranteed phones. 3005 02:46:43.319 --> 02:46:45.520 I don't really know, that's what as I don't. 3006 02:46:45.799 --> 02:46:49.120 Yeah, so we feel that imagine, look at your imagine. 3007 02:46:49.120 --> 02:46:52.120 You say you want to borrow at twenty and pay 3008 02:46:52.200 --> 02:46:54.639 back and at twenty and pay back at twenty is 3009 02:46:54.760 --> 02:46:57.000 very very tight and I'm gonna pay fees and all 3010 02:46:57.040 --> 02:46:59.520 that kind of stuff. So again it's if. 3011 02:46:59.399 --> 02:47:01.559 You are can range at ten. 3012 02:47:01.799 --> 02:47:03.959 Two and you are in in one hundred, there's a 3013 02:47:04.040 --> 02:47:06.719 big margine of safety there, but you have no imagine 3014 02:47:06.760 --> 02:47:10.360 of safety. Your bank is borrowing your money at how 3015 02:47:10.479 --> 02:47:14.319 much at twenty and you're going to make fift twenty. 3016 02:47:14.399 --> 02:47:15.959 There's no margine of safety there. 3017 02:47:16.879 --> 02:47:19.200 If you saying there's no margin there, so I would 3018 02:47:19.639 --> 02:47:23.040 I would advise you borrow for that. There are other 3019 02:47:23.120 --> 02:47:25.319 things you can borrow for, Like I said, you borrow 3020 02:47:25.440 --> 02:47:28.200 for working capital. You you you are shot the returns 3021 02:47:28.239 --> 02:47:32.000 coming in. You just need funds egnefly to process and order. 3022 02:47:32.399 --> 02:47:34.680 It's very very short term. It doesn't go in and out. 3023 02:47:34.760 --> 02:47:38.760 But to borrow for a bank to run the farm 3024 02:47:39.200 --> 02:47:43.680 it's you're in credit a fixed costs with unsettingment, So 3025 02:47:43.719 --> 02:47:44.760 I would I wouldn't do that. 3026 02:47:46.120 --> 02:47:47.959 Okay, so thank you so much. 3027 02:47:48.079 --> 02:47:53.479 Thanks just my opinion. Yes, all right, let's get Marriader 3028 02:47:53.600 --> 02:47:55.959 Nigeria marrieder? What's your man? 3029 02:47:58.559 --> 02:48:02.360 Mariader? Might that going once? 3030 02:48:02.879 --> 02:48:16.000 Marrieder? Going twice? Let's get Maria you speaking hello, very 3031 02:48:16.120 --> 02:48:34.760 very bad. I gotta take your da. Might I text 3032 02:48:34.840 --> 02:48:41.559 me a question? All right? That's a glitters world. 3033 02:48:44.440 --> 02:48:46.840 Glitters world. You've got the floor. 3034 02:48:49.000 --> 02:48:50.440 About mentus? Mentus? 3035 02:48:50.479 --> 02:48:52.680 How you doing mantus in America? 3036 02:48:53.600 --> 02:48:59.159 She work your how's it? Go ahead? 3037 02:49:00.559 --> 02:49:00.799 Good? 3038 02:49:00.840 --> 02:49:01.000 Good? 3039 02:49:01.040 --> 02:49:02.840 Okay, thank you very much for the space side. 3040 02:49:04.639 --> 02:49:05.719 I'm one of the first strong. 3041 02:49:05.559 --> 02:49:08.239 Guess functions and I appreciate what you do every weekend. 3042 02:49:08.399 --> 02:49:13.120 Thank you. Yeah. So in one of your last engagement 3043 02:49:13.200 --> 02:49:13.799 to yourself and. 3044 02:49:13.879 --> 02:49:17.479 Then your friend, is it that that they. 3045 02:49:20.200 --> 02:49:20.440 There? 3046 02:49:20.680 --> 02:49:25.399 So you you know somebody as specification respect to financial 3047 02:49:25.440 --> 02:49:26.959 advice and your advising. 3048 02:49:26.639 --> 02:49:30.000 Person to go with money Africa or somesing. 3049 02:49:30.120 --> 02:49:33.479 So I took that advantage and booked this section with them. 3050 02:49:33.520 --> 02:49:36.959 And then the recommenders so who have more or gusts 3051 02:49:37.040 --> 02:49:41.840 like financial engagements, and then the you know the guilfome advice. 3052 02:49:41.920 --> 02:49:44.520 So this was a few months close to the general 3053 02:49:44.879 --> 02:49:45.479 US selection. 3054 02:49:47.399 --> 02:49:50.840 So I invested in them, you know some of the 3055 02:49:51.159 --> 02:49:52.559 lists gave me and then. 3056 02:49:53.200 --> 02:49:55.719 It's something else will need to invest in Tesla and 3057 02:49:55.799 --> 02:49:58.399 I was able to buy a few shapes and that 3058 02:49:58.520 --> 02:49:59.840 has almost. 3059 02:50:01.040 --> 02:50:02.040 Forty patients. 3060 02:50:02.200 --> 02:50:05.000 And that's a last tip last week. 3061 02:50:05.879 --> 02:50:08.959 So so my question is time is what do you use? 3062 02:50:09.079 --> 02:50:11.200 What do you see in the future of testable respect 3063 02:50:11.280 --> 02:50:12.760 to all the developments there. 3064 02:50:13.920 --> 02:50:15.959 Driver see what they're doing. 3065 02:50:16.000 --> 02:50:16.719 Do you think. 3066 02:50:18.520 --> 02:50:19.920 You know it is still on their value? 3067 02:50:19.959 --> 02:50:21.920 Stay good by doing you know. 3068 02:50:23.520 --> 02:50:23.719 Which? 3069 02:50:25.559 --> 02:50:25.799 Thank you? 3070 02:50:26.639 --> 02:50:29.719 Yeah, that's so again, I'm just in my opinion. I'm 3071 02:50:29.760 --> 02:50:33.479 not giving you a facial advice. Don't nothing I say 3072 02:50:33.520 --> 02:50:35.680 here I should be used as fancial advice. I'm not 3073 02:50:35.760 --> 02:50:36.760 a facial adviser. 3074 02:50:37.000 --> 02:50:37.200 Yeah. 3075 02:50:37.799 --> 02:50:41.559 So Tesla is Tesla is look at. 3076 02:50:41.840 --> 02:50:43.959 The good thing for let me give the bootside for Tesla. 3077 02:50:44.280 --> 02:50:49.719 They have skill. Tesla is building electricals and when you 3078 02:50:49.799 --> 02:50:54.440 were into manufacturing, the president that wins is whoever has skilled, 3079 02:50:54.600 --> 02:50:58.280 skilled beings who can produce more at the cheaper price. 3080 02:50:58.959 --> 02:51:02.440 There's test like you. There's Testla in Germany, there's Testla 3081 02:51:02.680 --> 02:51:05.319 in China. They want to be appoint test line in India. 3082 02:51:05.799 --> 02:51:09.000 So what you see that the cost perk car for 3083 02:51:09.159 --> 02:51:13.079 Testla's coming down. What it means even if Volkswagen or 3084 02:51:13.479 --> 02:51:17.559 Toyota or the rest can actually build it electric car, 3085 02:51:18.200 --> 02:51:21.440 they can't build it at the cost of Tesla. So 3086 02:51:21.719 --> 02:51:24.840 as a positive for Tesla, he might be in the 3087 02:51:25.520 --> 02:51:29.479 default electric car, especially if he keeps on dropping his 3088 02:51:29.760 --> 02:51:32.920 prices to match with the Chinese. Chinese are number one 3089 02:51:33.479 --> 02:51:36.440 card plass in the world because they can manufactured cars 3090 02:51:36.760 --> 02:51:41.879 are twenty thousand dollars per car, So that's the advantage 3091 02:51:41.920 --> 02:51:42.760 for TESTA number one. 3092 02:51:43.440 --> 02:51:45.760 The other big thing for him is that he's very, 3093 02:51:45.879 --> 02:51:46.520 very close to. 3094 02:51:46.559 --> 02:51:50.879 The administration in America today, So if does any hope 3095 02:51:50.959 --> 02:51:54.760 that maybe in regulations would have affected him. He's been 3096 02:51:54.879 --> 02:51:57.760 trying for a long time to get approval to driver 3097 02:51:57.840 --> 02:52:01.319 lest cars, driver lest taxes in America hasn't been given. 3098 02:52:02.280 --> 02:52:05.000 With this admit decision, it has a better chance because 3099 02:52:05.040 --> 02:52:08.360 he's intact with the President elect, with means that it's 3100 02:52:08.440 --> 02:52:10.719 easier for him to get these things are proved and 3101 02:52:10.959 --> 02:52:13.479 tested and then start to run off the skill run 3102 02:52:13.559 --> 02:52:16.479 at skill, So that's not costing for him. 3103 02:52:16.959 --> 02:52:18.280 So if you look at those two things. 3104 02:52:18.399 --> 02:52:20.840 It looks like he might be a goodbye that's why 3105 02:52:20.959 --> 02:52:23.200 you see the stock going up. The stocks went up 3106 02:52:23.399 --> 02:52:27.079 after elections. When mister Trump won, he also went off. 3107 02:52:27.120 --> 02:52:30.079 But it's a good company. The cars are they're making 3108 02:52:30.159 --> 02:52:34.200 more cars at the cheaper price, so all things being equal, 3109 02:52:34.440 --> 02:52:37.840 they might become the dominant force in ebs in America. 3110 02:52:38.680 --> 02:52:41.000 The bad side of Testla is that America has don't 3111 02:52:41.000 --> 02:52:44.559 really like electric cars. They still prefer in accompostion cars 3112 02:52:44.760 --> 02:52:47.719 to date, so it might be selling, but is he 3113 02:52:47.799 --> 02:52:50.079 selling an expanding market. That's a question you want to 3114 02:52:50.120 --> 02:52:53.920 ask yourself. So that's where number two Testla is. It's 3115 02:52:53.920 --> 02:52:56.159 a very very expensive stock. Look at the price to 3116 02:52:56.200 --> 02:52:59.799 an instratio and they don't pay dividends. So if you're 3117 02:53:00.360 --> 02:53:02.959 test that today, you are buying to hope that the 3118 02:53:03.120 --> 02:53:06.879 price will keep on going up to justify your. 3119 02:53:06.959 --> 02:53:09.159 You're gonna get any des from the test like next future. 3120 02:53:09.200 --> 02:53:10.520 They reinvested their. 3121 02:53:10.399 --> 02:53:12.040 Income, So that's the plus. 3122 02:53:12.079 --> 02:53:14.559 And that's the other side, And I hope it's from 3123 02:53:14.639 --> 02:53:17.440 there you can make your call if any parts. So 3124 02:53:17.600 --> 02:53:23.399 you're a shoveler hanging there, let's see all right, all right, 3125 02:53:23.399 --> 02:53:25.440 I guess we're to think last questions, I've got letters, 3126 02:53:25.680 --> 02:53:27.559 I've got you the time, I've got amy, and I 3127 02:53:27.600 --> 02:53:30.000 will call today. Right, So business, what's go for it? 3128 02:53:30.079 --> 02:53:31.200 Last week questions? Letters? 3129 02:53:31.239 --> 02:53:33.319 We'll go for it all right? 3130 02:53:37.719 --> 02:53:41.559 Yes, yes, I'm the owner. 3131 02:53:42.920 --> 02:53:44.159 Okay, so is. 3132 02:53:45.639 --> 02:53:46.760 My three years ago? 3133 02:53:47.680 --> 02:53:51.680 So when I started that, no my inportation, like I 3134 02:53:51.920 --> 02:53:54.959 like the idea of thank you from China. You really package, 3135 02:53:54.959 --> 02:53:56.479 you can't put our name on it. 3136 02:53:56.639 --> 02:53:59.600 So a few like when I posted on a few 3137 02:53:59.639 --> 02:54:02.520 more so that I choose sam. 3138 02:54:03.000 --> 02:54:03.799 Goos for myself. 3139 02:54:04.239 --> 02:54:06.559 So honestly for me, I ran into those. 3140 02:54:07.280 --> 02:54:10.479 So that's like has to say so people stays because 3141 02:54:10.520 --> 02:54:11.479 I tally run. 3142 02:54:13.120 --> 02:54:15.000 Yeah the other day, so I have to say it 3143 02:54:15.040 --> 02:54:18.360 back so people. So a few months later I decided 3144 02:54:18.520 --> 02:54:21.920 who to say, who's to start off? It gave somewhay 3145 02:54:22.000 --> 02:54:25.159 frohow like I thought that the road shipper buying a 3146 02:54:25.239 --> 02:54:28.280 less pictures from friends and families like people that hat 3147 02:54:28.360 --> 02:54:32.920 ideal to that sees for satire and posting their pictures. 3148 02:54:33.440 --> 02:54:36.920 So I was able to what's. 3149 02:54:36.799 --> 02:54:42.559 What's the question? What's the question as a question? 3150 02:54:43.879 --> 02:54:46.440 All right, so I don't know my business. Now I'm 3151 02:54:46.479 --> 02:54:47.280 gonna be from home. 3152 02:54:47.920 --> 02:54:50.799 So like I hae minies of Aquatin in that film 3153 02:54:50.879 --> 02:54:52.000 that sell my stuff. 3154 02:54:52.440 --> 02:54:54.000 So I don't know if there is any. 3155 02:54:53.879 --> 02:54:57.879 Possibility of me getting an investor, because I think now, 3156 02:54:57.920 --> 02:54:59.040 I think that's like a one. 3157 02:54:59.000 --> 02:55:01.799 Million, one million now the moments earlier. 3158 02:55:02.120 --> 02:55:04.639 Now, So I don't know. Yeah, I've been able to. 3159 02:55:06.680 --> 02:55:09.760 So I don't know if there's any possibilitating an investor 3160 02:55:09.959 --> 02:55:11.000 for my kind of business. 3161 02:55:11.120 --> 02:55:12.639 If they will not do my business. 3162 02:55:13.000 --> 02:55:18.319 I've got through the necessary if I wassle exactly. 3163 02:55:19.079 --> 02:55:21.520 So yeah, So it's really goes to be at your 3164 02:55:21.559 --> 02:55:25.360 state of business, your your startup, family, friends, guys that 3165 02:55:25.440 --> 02:55:27.559 doing could do those seas capitals. That's the way I 3166 02:55:27.639 --> 02:55:29.239 go to the best because people on the space might 3167 02:55:29.319 --> 02:55:30.840 not know you. I might know you, but they might 3168 02:55:30.879 --> 02:55:31.239 not know you. 3169 02:55:31.760 --> 02:55:34.319 So I would say this stay back. 3170 02:55:34.200 --> 02:55:36.920 To you have put it on Twitter and ask for 3171 02:55:37.040 --> 02:55:39.360 investment on Twitter. You know some can pick it up 3172 02:55:39.680 --> 02:55:42.159 and read. You know, put your income and expense, your 3173 02:55:42.159 --> 02:55:44.239 relation and saying I want this some amount of money 3174 02:55:44.520 --> 02:55:47.200 if I information, send you a DM and we talk. 3175 02:55:47.319 --> 02:55:49.680 Put it on your space full on your page, put 3176 02:55:49.719 --> 02:55:53.040 your returns and other advertise yourself, but in your startup. 3177 02:55:53.120 --> 02:55:55.239 So people are going to be you're more risky in 3178 02:55:55.360 --> 02:55:59.799 normal company. So but advertised toself as to what happens. 3179 02:56:03.559 --> 02:56:14.479 All right, let's get I do that. My lister John 3180 02:56:14.600 --> 02:56:15.639 and mister Dent. 3181 02:56:16.440 --> 02:56:17.440 Are you invested? 3182 02:56:18.000 --> 02:56:21.479 And my question is I want you start to. 3183 02:56:23.959 --> 02:56:27.840 Explain to me. I'm our ish students like me and 3184 02:56:29.719 --> 02:56:32.000 have financial security. 3185 02:56:32.319 --> 02:56:36.559 And what I'm doing presently is that I am athleting 3186 02:56:36.879 --> 02:56:39.680 for companies a sales cass. 3187 02:56:41.200 --> 02:56:45.360 What ye are the level? That's my advice is to 3188 02:56:45.479 --> 02:56:49.040 focus on your education. Came to the good degree. Let 3189 02:56:49.200 --> 02:56:52.799 us skill from my university. Let us kill focused on 3190 02:56:52.920 --> 02:56:56.920 that and come out. That's what advice you do. Focused 3191 02:56:56.959 --> 02:56:59.440 on bigger skills that you achieve. And I'm not trying 3192 02:56:59.440 --> 02:57:02.799 to blow you up, but you have You have the 3193 02:57:02.920 --> 02:57:06.200 internet right, you can go on to the internet free 3194 02:57:06.280 --> 02:57:09.840 resources learn about investing. I have a book. 3195 02:57:11.200 --> 02:57:13.559 I use every weekend. If you follow me, you would 3196 02:57:13.639 --> 02:57:14.079 learn a lot. 3197 02:57:14.639 --> 02:57:18.079 Go to the internet and learn a lot, get trigger education, 3198 02:57:18.840 --> 02:57:21.559 start something you know. But I can't. 3199 02:57:22.200 --> 02:57:23.680 I'm not gonna be able to show to tell you 3200 02:57:23.760 --> 02:57:24.799 individually what to do. 3201 02:57:25.440 --> 02:57:26.000 It's too. 3202 02:57:27.840 --> 02:57:27.879 So. 3203 02:57:27.959 --> 02:57:29.280 If I have a question, I can answer, but I 3204 02:57:29.319 --> 02:57:31.840 can't give you an individual steps. I'm not gonna buy something. 3205 02:57:31.840 --> 02:57:33.879 I say, I'm just trying to do the stuff. But 3206 02:57:34.040 --> 02:57:36.280 you have a question special to me, send to me 3207 02:57:36.360 --> 02:57:41.200 and to answer right. But yeah, but let's say Amy, welcome, Ami, 3208 02:57:41.399 --> 02:57:48.040 thank God let me I mean Ami van God going 3209 02:57:48.120 --> 02:57:52.280 once and me thank God. I can hear yourself. Just 3210 02:57:52.360 --> 02:57:58.200 go ahead, thank you so much, say. 3211 02:58:00.559 --> 02:58:03.479 Very Michaelstone is ver simple. 3212 02:58:03.840 --> 02:58:04.280 I'm just. 3213 02:58:06.440 --> 02:58:11.840 My first NY best in index forms in X forms, 3214 02:58:12.959 --> 02:58:18.520 I don't know, Yeah, I intend to. I was giving 3215 02:58:18.559 --> 02:58:21.799 three options. One is brought in best forms, the one 3216 02:58:21.920 --> 02:58:24.120 is the thing the regular in best forms, and. 3217 02:58:24.319 --> 02:58:28.440 The last one is not. So I was just thinking 3218 02:58:28.680 --> 02:58:32.799 which one is It's should I go for because. 3219 02:58:32.799 --> 02:58:35.479 I know that the economy boom like going to happen 3220 02:58:35.559 --> 02:58:36.319 under them. 3221 02:58:39.399 --> 02:58:41.799 Really can't answer that question because you're asking what to 3222 02:58:41.879 --> 02:58:45.760 catch with you by s by Medes or BMW and Audi. Well, 3223 02:58:45.760 --> 02:58:47.639 you can answer that question. We can only say what 3224 02:58:47.840 --> 02:58:49.520 do you want to do with the car? If you 3225 02:58:49.600 --> 02:58:52.000 want to go long distance, to buy a bus. If 3226 02:58:52.040 --> 02:58:53.920 you want to go short distance, you know, buy a 3227 02:58:54.040 --> 02:58:56.479 coup So the answer is that what the. 3228 02:58:57.399 --> 02:58:58.879 Banks I want to do very well? 3229 02:58:59.159 --> 02:59:01.760 And it just do very well. You have elons, So 3230 02:59:01.920 --> 02:59:04.360 tech is gonna do very well. Okay, what if you 3231 02:59:04.559 --> 02:59:06.719 buy the index, you don't have to worry which wants 3232 02:59:06.719 --> 02:59:12.360 your band because you're buying everything. But NASDA NASDAK is 3233 02:59:12.520 --> 02:59:20.079 it heavy, SMP is SMP five from the stocks right 3234 02:59:20.239 --> 02:59:21.559 now is textive stocks. 3235 02:59:22.000 --> 02:59:23.200 So index pience. 3236 02:59:23.239 --> 02:59:26.319 You are buying everything, so don't working about the individual 3237 02:59:26.600 --> 02:59:29.879 or another the COMPREHENSI are doing well. You're buying everything. 3238 02:59:30.360 --> 02:59:32.879 But that's like it's tech heavy. That's just the answer 3239 02:59:33.000 --> 02:59:34.600 for you. So if you don't know what to buy, 3240 02:59:35.239 --> 02:59:37.920 buy index. If you think America or A, well so 3241 02:59:38.079 --> 02:59:38.799 that would give. 3242 02:59:38.680 --> 02:59:40.959 You access or exploture. 3243 02:59:40.399 --> 02:59:41.040 To that market. 3244 02:59:41.200 --> 02:59:46.280 Yeah, that works all right, folks. 3245 02:59:46.399 --> 02:59:48.120 Thank you so much guys for being here. Will be 3246 02:59:48.239 --> 02:59:50.559 here three hours building and not talking about to do 3247 02:59:50.639 --> 02:59:53.719 your budgets, how to convert your active to your passive 3248 02:59:53.840 --> 02:59:57.200 income or big guys who take it into practice and 3249 02:59:57.280 --> 02:59:59.799 get it done will come back next week and will 3250 02:59:59.840 --> 03:00:02.440 tr to do it again. Thank you so much, guys,