WEBVTT 1 00:00:28.600 --> 00:00:32.960 Hey, good evening. Welcome to another money space with me 2 00:00:33.280 --> 00:00:36.359 calu Aja. Of course, on this space, we're talking to 3 00:00:36.399 --> 00:00:40.000 the economy, we're talking finance panel finance, and of course 4 00:00:40.039 --> 00:00:45.039 we're talking about investing. And what's a great investment topic 5 00:00:45.119 --> 00:00:50.520 we have today. Education. If you don't know, education is 6 00:00:50.560 --> 00:00:55.159 the only investment that you can make that you guaranteed 7 00:00:55.320 --> 00:00:58.200 a return in some cases more than one hundred percent. 8 00:00:58.799 --> 00:01:03.920 If you're not educated, and you get educated across the world, 9 00:01:04.120 --> 00:01:08.439 your incomes will increase, your world, you will improve and 10 00:01:08.680 --> 00:01:14.079 your future and its power essentially goes up. So for education, 11 00:01:14.280 --> 00:01:16.719 you don't play with it like it's really really gonna 12 00:01:16.760 --> 00:01:20.599 be something that you can do and you can improve 13 00:01:20.640 --> 00:01:23.319 your skill at any level. So this is a great, great, great, 14 00:01:23.319 --> 00:01:25.799 great great top paper to have today just to talk 15 00:01:25.840 --> 00:01:29.840 around education, how we can fund it local for education. 16 00:01:30.599 --> 00:01:33.239 And we've got great guests here today us that's gonna 17 00:01:33.239 --> 00:01:38.359 help us navigate this topic, right. So you know way 18 00:01:38.480 --> 00:01:41.439 QSQS is a is a co host, it's gonna add 19 00:01:42.519 --> 00:01:44.480 the folks that are gonna talk to us today and 20 00:01:44.480 --> 00:01:46.840 we're gonna try to do this as well. And then 21 00:01:46.920 --> 00:01:50.120 we're just gonna start right and see how this will 22 00:01:50.200 --> 00:01:53.599 play into even the tax conversations like just a having 23 00:01:54.480 --> 00:01:57.640 Nis are waking up in twenty twenty seven or two 24 00:01:57.680 --> 00:02:00.920 twenty six and understanding that you've got to start to 25 00:02:00.959 --> 00:02:03.239 pay taxes. Right, there's going to be lots of taxes 26 00:02:03.239 --> 00:02:05.040 that are going to be paid on incomes that are 27 00:02:05.040 --> 00:02:07.719 going to be earned. There are also lots of deductions 28 00:02:07.760 --> 00:02:10.759 that are going to be available to Nigerian families. So 29 00:02:10.800 --> 00:02:12.639 I question you want to ask yourself is if you 30 00:02:12.680 --> 00:02:15.199 want to go abroader study, which is very very legitimate, 31 00:02:15.680 --> 00:02:19.199 how can you structure your balance sheet, your incomes and 32 00:02:19.199 --> 00:02:22.479 also your tax set up so you can still have 33 00:02:22.479 --> 00:02:25.240 afford to go and still any benefits that you can 34 00:02:25.280 --> 00:02:28.080 get who can partner with you in the stryga essentially 35 00:02:28.639 --> 00:02:31.439 that allow you to then you know, get this done. 36 00:02:31.759 --> 00:02:34.560 That'sessentially what's want to do. So because I'm relying you 37 00:02:34.599 --> 00:02:37.719 to add your folks US writer speakers, fantastic and then 38 00:02:37.759 --> 00:02:40.080 we'll just sort of get the topic going. But I 39 00:02:40.159 --> 00:02:44.120 just want to just lay out as it's where a 40 00:02:44.120 --> 00:02:47.360 bit of financial plan and education for those that are listening. 41 00:02:47.759 --> 00:02:49.560 So if you've been a regular gifts on that shoe, 42 00:02:49.560 --> 00:02:53.319 we're talking around how you can use the structure of 43 00:02:53.439 --> 00:02:57.759 Nagia has present to plan out your future. Right, how 44 00:02:57.800 --> 00:03:01.719 can you write out your assets, your liabilities, your income 45 00:03:01.719 --> 00:03:05.400 and expenses. Is such a mana that you can specify 46 00:03:05.599 --> 00:03:11.319 a target investment or target savings so advocated using your 47 00:03:11.400 --> 00:03:16.639 retirement in its account only your insurance amount that you're 48 00:03:16.680 --> 00:03:19.199 being insurance so that you're pining for an insurance as 49 00:03:19.240 --> 00:03:23.120 a way to do target savings. So what are target savings? 50 00:03:23.680 --> 00:03:26.599 You have a daughter, you have children, you have worlds. 51 00:03:26.719 --> 00:03:29.840 You want them to go to Harvard in say fifteen years. 52 00:03:30.039 --> 00:03:33.560 How can you save today that in fifteen years you've 53 00:03:33.560 --> 00:03:37.039 got those funds available to fund that interaction. That's what's 54 00:03:37.039 --> 00:03:39.879 talking about today. A good way you can do that 55 00:03:40.000 --> 00:03:43.080 in Nigeria today is not to write a will which 56 00:03:43.120 --> 00:03:45.199 can be challenged and all that kind of stuff. Is 57 00:03:45.280 --> 00:03:49.639 to try to write a trust agreement. Right, So you 58 00:03:49.639 --> 00:03:52.520 go to a lawyer, you draw up a trust and 59 00:03:52.599 --> 00:03:54.960 you say, I am the grant or distrust, which means 60 00:03:55.000 --> 00:03:57.439 I'm the maker. I'm the one making the trust. This 61 00:03:57.599 --> 00:04:01.639 trust means that my assets know that owned by myself, 62 00:04:01.840 --> 00:04:04.439 they're now owned by the trust. I'll be a trustee. 63 00:04:04.479 --> 00:04:08.120 I would enjoy the process of this trust. As I'm alive. 64 00:04:08.599 --> 00:04:12.120 Should I pass away, I want the total funds in 65 00:04:12.159 --> 00:04:16.639 my trust to go towards the education of my kids. 66 00:04:16.920 --> 00:04:19.240 You write that in there, and it's also testament. You 67 00:04:19.279 --> 00:04:21.600 would mean even if you're not there, they have to 68 00:04:21.600 --> 00:04:24.720 follow what's in the trust to go to the education 69 00:04:24.800 --> 00:04:28.000 of my kids. Where my kids are educated, give them 70 00:04:28.040 --> 00:04:31.480 a salary, and there's any money left over, take that 71 00:04:31.600 --> 00:04:33.560 money and give to my favorite charity. You can give 72 00:04:33.600 --> 00:04:35.839 them to Chelsea or ask Noal Football club. But you're 73 00:04:35.879 --> 00:04:39.959 writing something that you are not there and will be obeyed. 74 00:04:40.600 --> 00:04:43.639 You're gonna have trustees. It can be if you're trust 75 00:04:43.720 --> 00:04:45.959 is like your friends, but I prefer corporate trust you 76 00:04:46.040 --> 00:04:48.439 because corporates, you know, you don't know them in quote, 77 00:04:48.879 --> 00:04:51.399 but they weren't carry out your authority even when you're 78 00:04:51.399 --> 00:04:54.680 not there. So you then look for an asset that 79 00:04:54.759 --> 00:04:57.720 you're doing not put in that trust, and that asset 80 00:04:57.759 --> 00:05:00.560 is gonna fund your education of those kids. So if 81 00:05:00.600 --> 00:05:03.639 I have to wortrae kids for instance, right, I could say, Hey, 82 00:05:03.920 --> 00:05:07.199 I'm gonna do a trust. These kids are gonna be 83 00:05:07.720 --> 00:05:10.000 taking care of in the trust. If I pass away 84 00:05:10.480 --> 00:05:12.879 the trust that my assets goes to my trust, and 85 00:05:13.000 --> 00:05:15.920 my trust pays for the education of this kid. You 86 00:05:15.959 --> 00:05:19.439 can even put a live insurance policy. You can buy 87 00:05:19.519 --> 00:05:23.240 life trust policy and you can make your trust the 88 00:05:23.399 --> 00:05:27.639 beneficiary of your bl like policy. Not you to trust 89 00:05:28.360 --> 00:05:31.879 anything happens to you, The insurance company pays the trust. 90 00:05:32.279 --> 00:05:35.560 The trust then uses your life policy to then educate 91 00:05:35.879 --> 00:05:39.600 your kids. The very simple way of doing this. Why trust, 92 00:05:39.639 --> 00:05:42.360 Because they're gonna go to probate. It's not only your money. 93 00:05:42.439 --> 00:05:45.399 It's not gonna go to private credit and find the beneficiaries. Right, 94 00:05:45.680 --> 00:05:50.199 it's easier to do it's less. You can't go and 95 00:05:50.319 --> 00:05:53.480 challenge a trusting court, so you can't have your neighbor, 96 00:05:52.879 --> 00:05:56.399 your brothers you come to say, oh want challenge is this? 97 00:05:56.399 --> 00:05:59.720 This will because the trust right the legal docment set 98 00:05:59.759 --> 00:06:02.959 of well when you didn't know that very simple easy 99 00:06:03.000 --> 00:06:07.360 way for you to manage that transition process. So look 100 00:06:07.399 --> 00:06:09.680 at the tax laws that have in past. Now, right, 101 00:06:10.079 --> 00:06:14.040 what can we used to accomplish this distrust? If you look 102 00:06:14.040 --> 00:06:15.800 at the tax laws, they are saying that if you 103 00:06:15.920 --> 00:06:20.959 contributes money to your retirement savings account, that retirement savings 104 00:06:21.000 --> 00:06:26.399 account is any contuns you make are tax exempt. So 105 00:06:26.560 --> 00:06:28.680 now let's bring it back to today. I want to 106 00:06:28.680 --> 00:06:31.839 send my daughter to Habard in fifteen years. You're just 107 00:06:31.920 --> 00:06:35.000 born today. What do I do? I go to a 108 00:06:35.120 --> 00:06:38.360 finance guy. The finance guy tells me, listen, to send 109 00:06:38.360 --> 00:06:40.839 your daughter to Habard in fifteen years, do not cost 110 00:06:40.959 --> 00:06:45.079 you twenty million ERA every year or today whatever number 111 00:06:45.079 --> 00:06:47.319 he gives me. So what do I do? I go 112 00:06:47.439 --> 00:06:51.160 to my ARRASA, my PSP company, and I open up 113 00:06:51.319 --> 00:06:57.240 a retirement savings account and I make additional fluncial contributions 114 00:06:57.240 --> 00:06:59.879 to that account. When I make those contributions, they are 115 00:06:59.920 --> 00:07:04.000 in the account. I can take them off after five years, 116 00:07:04.040 --> 00:07:07.920 tax free five years. But depending happens to me, the 117 00:07:08.000 --> 00:07:10.199 returnatives account is going to be paid to my trust. 118 00:07:10.199 --> 00:07:13.160 So my trust is my beneficiary. They paid to my trust, 119 00:07:13.480 --> 00:07:17.319 and my trust they educate my kid in university. Simple. 120 00:07:17.560 --> 00:07:21.639 So use your arssy to accumulate the funds, and the 121 00:07:21.720 --> 00:07:24.639 funds go to your trust. If you're alive, that's fine, 122 00:07:24.680 --> 00:07:26.560 you take the money and use get your daughter. But 123 00:07:26.600 --> 00:07:29.399 if you're not alive, the trust does that. So this 124 00:07:29.480 --> 00:07:32.240 way we want to just introduce this whole topic of education. 125 00:07:32.319 --> 00:07:35.000 It's a long term asset, but look at the only 126 00:07:35.120 --> 00:07:38.959 asset that is guaranteed the return. So fantastic. We've got 127 00:07:39.000 --> 00:07:42.240 the QS folks in here, right, so do add who's 128 00:07:42.240 --> 00:07:44.959 gonna start? Who's gonna start with? I've got missus p 129 00:07:45.959 --> 00:07:49.120 actually gonna start and just walk us through what is 130 00:07:49.240 --> 00:07:55.040 QS and what you guys do, and that is PID 131 00:07:55.240 --> 00:08:09.639 want in yourself. And then oh just just just dropped off. Okay, okay, 132 00:08:09.680 --> 00:08:12.319 I'm gonna add you right back. So essentially we've got 133 00:08:12.439 --> 00:08:15.000 QS guys here and I hope they let me just 134 00:08:15.040 --> 00:08:17.160 make sure I have them all sets up here so 135 00:08:17.240 --> 00:08:19.240 that they can get back. And she just dropped off 136 00:08:19.279 --> 00:08:23.439 now as I called her, gonna make sure they're all 137 00:08:23.480 --> 00:08:27.839 sets of co hosts. Yep, there we go. Yep, so 138 00:08:28.120 --> 00:08:33.480 adding you fantastic. Yeah so yeah, So I'm want to 139 00:08:33.519 --> 00:08:35.840 seeing questions about the well I just talked about the 140 00:08:36.120 --> 00:08:39.519 rs and the trusts and the education, go back to that. 141 00:08:39.759 --> 00:08:41.519 But I just wanted to get yeah, miss Peach, but 142 00:08:42.480 --> 00:08:46.279 gonna allow QS toroduce themselves why they are here and 143 00:08:46.360 --> 00:08:48.679 why it is important for us. Right, So, miss Pier, 144 00:08:48.720 --> 00:08:50.919 I have you here. You want to go ahead and 145 00:08:51.039 --> 00:08:56.519 use yourself pulling a DOJ A psychologist counselor passionates to 146 00:08:56.600 --> 00:08:59.440 my TERI writer, food enters and stuff like that. Love 147 00:08:59.519 --> 00:09:00.840 to sing ahead, man, what's that? 148 00:09:02.600 --> 00:09:03.240 Hi? Everyone? 149 00:09:03.399 --> 00:09:05.039 Good evening? 150 00:09:05.960 --> 00:09:08.480 Yeah, thanks for having me, and thanks for having my 151 00:09:08.519 --> 00:09:09.279 colleagues as well. 152 00:09:10.000 --> 00:09:15.120 So I'm palling, as you've rightly said, so please bagon 153 00:09:15.200 --> 00:09:19.039 me this profersive bits old. I haven't been on X 154 00:09:19.159 --> 00:09:21.360 in a very long minute, so I'm even surprised to 155 00:09:21.360 --> 00:09:22.279 hear about myself. 156 00:09:22.840 --> 00:09:29.320 But I am currently an enrollment manager at QS Apply, 157 00:09:29.600 --> 00:09:34.320 So I'm a counselor basically in everything that leads to 158 00:09:34.399 --> 00:09:38.240 international street recruitment at QS do that apply. 159 00:09:38.480 --> 00:09:41.720 So that's basically who I am and it gain Thanks 160 00:09:41.720 --> 00:09:42.240 for having me. 161 00:09:43.120 --> 00:09:45.279 See what is what is? Key question? 162 00:09:46.000 --> 00:09:46.480 Okay? 163 00:09:46.559 --> 00:09:50.080 So QS is actually short Folk Occury one. 164 00:09:50.799 --> 00:09:54.440 Good luck trying to pronounce everything for Yeah. 165 00:09:54.759 --> 00:09:59.440 We started off as evening that the boards if ever. 166 00:09:59.440 --> 00:10:06.799 To check like how universities are around globally, QS would 167 00:10:07.039 --> 00:10:09.440 most likely come up, so you will see as KS 168 00:10:09.480 --> 00:10:13.000 world rankings. Now, because of the relationship that we're built 169 00:10:13.039 --> 00:10:17.240 with institutions globally, we've gone from not just providing them 170 00:10:17.240 --> 00:10:23.600 with data, We've now transitioned or evolved to include to 171 00:10:23.600 --> 00:10:29.559 the recruitment so university strusts to manage to match them 172 00:10:30.279 --> 00:10:35.039 to prospective students and match perspective students to the institutions 173 00:10:35.039 --> 00:10:36.240 that will feed them. 174 00:10:36.519 --> 00:10:38.120 So that's what we do. 175 00:10:38.279 --> 00:10:43.279 Essentially, we manage the ending process of studying abroad, from 176 00:10:43.519 --> 00:10:49.360 the process of application to the process of following up 177 00:10:49.399 --> 00:10:54.799 on your application, chases up onto visa application, things like that. 178 00:10:55.679 --> 00:10:57.759 So all of that, that's what we do. And our 179 00:10:57.799 --> 00:11:02.559 services are absolutely free if any. So yeah, how come 180 00:11:02.639 --> 00:11:03.039 they're free? 181 00:11:03.080 --> 00:11:06.360 Like this looks like a law looks a very very 182 00:11:06.360 --> 00:11:08.559 specialization that you guys do. How come it's free? 183 00:11:09.879 --> 00:11:10.279 Okay? 184 00:11:10.360 --> 00:11:13.720 So they're free firstly because. 185 00:11:14.600 --> 00:11:16.320 Universities understand that. 186 00:11:17.799 --> 00:11:23.279 Trust is something that's important to here. So if we're 187 00:11:23.320 --> 00:11:26.879 able to become to students and they see that this 188 00:11:27.039 --> 00:11:31.480 process is completely taking off, they don't have to worry 189 00:11:31.519 --> 00:11:35.600 about financial commitments with regards. 190 00:11:35.120 --> 00:11:37.480 People are people are following into a lot of wrong hands. 191 00:11:38.039 --> 00:11:40.120 So it's like this is a trusted partner. You go 192 00:11:40.200 --> 00:11:43.039 to them the access to and then. 193 00:11:44.799 --> 00:11:48.840 We have a partnership that we'll cover for those services. 194 00:11:49.200 --> 00:11:51.720 So the benefit for us is that you make it 195 00:11:51.720 --> 00:11:52.240 to school. 196 00:11:52.879 --> 00:11:53.240 M hm. 197 00:11:54.039 --> 00:11:56.919 Yes, So that's why it's our sex is there freely. 198 00:11:56.960 --> 00:11:59.159 It doesn't mean that the students is not being too show. 199 00:11:59.080 --> 00:12:01.960 That all of that, but at least the process of 200 00:12:03.039 --> 00:12:06.279 starting to get in your visa. 201 00:12:06.080 --> 00:12:09.120 QS would you know give you their expand guidance after 202 00:12:09.159 --> 00:12:09.759 no charge. 203 00:12:10.039 --> 00:12:11.759 So that's that's what we do. 204 00:12:12.159 --> 00:12:15.480 And I'm sharing the power point plantation for QS that 205 00:12:15.600 --> 00:12:19.480 just about seventy seventy one universities ranking refer to QS 206 00:12:19.519 --> 00:12:23.679 thirty years experience in doing this a London based education 207 00:12:24.600 --> 00:12:28.000 fifty five million people see the QS platforms every year 208 00:12:28.480 --> 00:12:31.519 rely on your data. This is very very impressive. Good 209 00:12:31.600 --> 00:12:36.120 job guys. So if I was going to go to 210 00:12:36.120 --> 00:12:39.200 school in the UK, what would I do? How does 211 00:12:39.279 --> 00:12:41.720 QS would help me? I would go to QS and 212 00:12:41.720 --> 00:12:44.200 I get the ranking. I'll go to my university and 213 00:12:44.200 --> 00:12:46.679 then get that ranking, but it should referry into QS. 214 00:12:46.679 --> 00:12:47.840 How does the relationship play? 215 00:12:49.000 --> 00:12:53.120 Okay, So sometimes you might have an idea of where 216 00:12:53.120 --> 00:12:54.279 you want to study. 217 00:12:55.600 --> 00:12:57.399 And you know what it would entail. 218 00:12:57.480 --> 00:13:00.919 And sometimes you might be completely cloless and just coming 219 00:13:00.960 --> 00:13:03.039 to me and say I want to study in UK, 220 00:13:03.240 --> 00:13:04.519 but I don't know what I need to do. 221 00:13:05.200 --> 00:13:06.879 So the first thing I would do is. 222 00:13:08.480 --> 00:13:10.759 At least go to my counselor on time, go to 223 00:13:10.799 --> 00:13:13.399 the organization on time and see I want to say 224 00:13:13.440 --> 00:13:15.120 time up until the year. 225 00:13:15.000 --> 00:13:20.240 Ahead, so you can do from again head to anything. 226 00:13:20.879 --> 00:13:27.240 I wouldn't recommend anything less than six months. Yes, for example, 227 00:13:27.440 --> 00:13:31.320 if I wanted to study in the UTCA September, I 228 00:13:31.360 --> 00:13:36.039 would start having that conversation now because there are lots 229 00:13:36.039 --> 00:13:37.679 of finances involved. 230 00:13:37.759 --> 00:13:40.519 So first of all, your counselor would help you to 231 00:13:40.639 --> 00:13:42.879 know what do you want to study? 232 00:13:43.720 --> 00:13:46.120 Outfit are you for the cost that you want to study. 233 00:13:46.639 --> 00:13:50.120 They will help you to understand your the financial implications 234 00:13:50.720 --> 00:13:53.600 if you cannot device you or what's the next intach 235 00:13:54.679 --> 00:13:57.360 that you can be talk for. I guess you would 236 00:13:57.360 --> 00:14:00.200 have an idea of what the plan needs to be. 237 00:14:00.519 --> 00:14:01.600 And then it will help. 238 00:14:01.440 --> 00:14:04.000 You to go back to your drawing on and know 239 00:14:04.679 --> 00:14:06.879 how feasible it is for you. 240 00:14:07.399 --> 00:14:10.320 So again you cons will help you with finances. They 241 00:14:10.320 --> 00:14:12.080 will help you look through your documents. 242 00:14:12.799 --> 00:14:13.679 If you're maybe like. 243 00:14:13.639 --> 00:14:17.000 An agent the older or you harry that class, they 244 00:14:17.000 --> 00:14:20.759 will help you to narry, narrow down your alternatives, things 245 00:14:20.799 --> 00:14:21.120 like that. 246 00:14:21.200 --> 00:14:24.440 So that is what the Curios team will do for you. 247 00:14:24.879 --> 00:14:26.879 And then at each stage they will keep advising you. 248 00:14:26.919 --> 00:14:29.600 They'll say, Okay, now it's sometimes that your offer. Now 249 00:14:29.600 --> 00:14:34.000 it's time too was it? Now it's time to enjoy 250 00:14:34.039 --> 00:14:36.879 your proof of funes is counting ahead of yours. 251 00:14:36.919 --> 00:14:39.000 This applications in all these kinds of. 252 00:14:38.879 --> 00:14:43.639 Things, gotcha, let's get into that. I do know you are. 253 00:14:45.840 --> 00:14:47.759 I mean, you have the team that's supposed to beeak 254 00:14:47.759 --> 00:14:50.559 here added, so I pause, just find us to do 255 00:14:50.720 --> 00:14:53.600 all the questions on you. But just let's talk around 256 00:14:53.720 --> 00:14:56.919 the whole process of planning out edication. I've tried to 257 00:14:57.000 --> 00:15:00.720 lay out on my own end using at the tax 258 00:15:00.879 --> 00:15:04.279 laws have in past, using your RST, how would you 259 00:15:04.320 --> 00:15:06.960 lay out the financial plan for that your family where 260 00:15:06.960 --> 00:15:10.039 twenty five years old, we just got married. We want 261 00:15:10.080 --> 00:15:11.919 that you had to go to university. Have brought in 262 00:15:12.000 --> 00:15:14.799 twenty years because that's a long term plan. How would 263 00:15:14.840 --> 00:15:17.000 you advise that the family, Knight, you have plans to 264 00:15:17.000 --> 00:15:18.360 help this education are sped. 265 00:15:19.840 --> 00:15:26.639 Okay, first thing, first, twenty years a good time, It's 266 00:15:26.840 --> 00:15:30.840 lots of good time. But the first thing I would advise, 267 00:15:31.679 --> 00:15:33.639 I mean, looking at everything we've been through as a 268 00:15:33.679 --> 00:15:36.440 country in the past few years, I would say, seen 269 00:15:36.519 --> 00:15:43.600 before the currency m you know, well, I believe that 270 00:15:43.720 --> 00:15:48.159 sounds patriarchy, old boy, it makes. 271 00:15:46.360 --> 00:15:49.440 It makes sense because I always tell the one to space. 272 00:15:49.559 --> 00:15:53.279 You say it in the currency that you are spending in, right. 273 00:15:53.720 --> 00:15:56.120 So if you're able to say, tend to send your 274 00:15:56.159 --> 00:15:58.720 kids to school in the UK, you want to see 275 00:15:58.960 --> 00:16:02.080 in powers or euros, right, because that's just you will 276 00:16:02.120 --> 00:16:06.679 remove that exchange rate risk. And again let's let's come 277 00:16:06.720 --> 00:16:09.360 back to this new tax a more that has been passed. 278 00:16:09.759 --> 00:16:14.000 If you take nayra and you invest in a foreign 279 00:16:14.600 --> 00:16:19.519 owned outlets, may be a rental or bond or stock. 280 00:16:19.960 --> 00:16:22.360 The boy is saying that if the currency do them 281 00:16:22.440 --> 00:16:25.120 to come back to Nigeria in foreign currency, you don't 282 00:16:25.159 --> 00:16:27.679 be taxed. But in this instance, I'm sure if they're 283 00:16:27.679 --> 00:16:30.840 gonna be in the currency back when it comes back to Nigeria, 284 00:16:31.000 --> 00:16:33.840 you're not going to pay tax. But in senstance, you're saying, 285 00:16:34.399 --> 00:16:36.919 seeing the currency of the school you're going to dusson 286 00:16:36.960 --> 00:16:37.279 I'm here. 287 00:16:37.240 --> 00:16:41.360 And you say yes, saving that currency. It's also a 288 00:16:41.360 --> 00:16:42.480 way to come back to intuition. 289 00:16:43.000 --> 00:16:45.919 I mean, I willn't say I'll be able to financially expect, 290 00:16:46.000 --> 00:16:48.639 but I speaking based on the experience. 291 00:16:48.960 --> 00:16:51.399 For example, as Jude twenty twenty three. 292 00:16:52.720 --> 00:16:58.440 Imagine one week, so many weeks up and there's about. 293 00:16:58.159 --> 00:17:00.279 Six hundred and as a students, you feel like, oh, 294 00:17:00.320 --> 00:17:03.320 I have all my money in check micro for FUMS 295 00:17:03.399 --> 00:17:04.759 is counting. 296 00:17:04.359 --> 00:17:05.240 For my visa. 297 00:17:06.279 --> 00:17:07.519 And then the following d. 298 00:17:08.000 --> 00:17:13.119 By June twelve windows and over happened, you know. 299 00:17:13.279 --> 00:17:18.039 By that week. By the following week, exchange rates carockets too. 300 00:17:19.079 --> 00:17:21.400 Should I say two thousand pounds nine? I don't know 301 00:17:21.400 --> 00:17:22.480 how quickuld went bold. 302 00:17:23.000 --> 00:17:28.039 Everything that people thought they had was devalued overnight, just by. 303 00:17:27.960 --> 00:17:30.519 One policy or by one situation. 304 00:17:30.640 --> 00:17:33.200 So I'm just saying, if you know that you want 305 00:17:33.279 --> 00:17:35.839 to study abroad, like this is what you have planned 306 00:17:36.400 --> 00:17:39.319 for your child, then you really should save in that 307 00:17:39.440 --> 00:17:44.319 currency need to combat inflation. And you know, I mean 308 00:17:44.880 --> 00:17:46.920 it's something that brings you interest as well. 309 00:17:47.240 --> 00:17:49.640 There are lots of things you can invest in now 310 00:17:49.920 --> 00:17:54.079 that you know with little resource. Over time, it builds up, 311 00:17:55.119 --> 00:17:58.480 you know, it build up for whether it's for accommodition, 312 00:18:00.079 --> 00:18:03.680 whether it's or they're living expenses, travel, all those kinds 313 00:18:03.680 --> 00:18:04.279 of things. 314 00:18:04.559 --> 00:18:07.519 So twenty is is very good time. That's just what 315 00:18:07.559 --> 00:18:09.200 I'm trying to see. But I would said the. 316 00:18:09.160 --> 00:18:11.839 Number one thing, the fundamental thing we'll need to say 317 00:18:12.200 --> 00:18:16.640 at least in that currency just to combatication. 318 00:18:16.319 --> 00:18:19.759 Yes, in that currency that I want to go to. 319 00:18:19.960 --> 00:18:25.039 So that's one. How else to like what else? Just 320 00:18:25.079 --> 00:18:26.599 go ahead? 321 00:18:27.039 --> 00:18:34.319 So again having information to knowing. So the truth is 322 00:18:34.359 --> 00:18:35.880 in twenty years, a lot of things I want to 323 00:18:35.960 --> 00:18:40.519 change in this industry. Things change every every intach. So 324 00:18:40.599 --> 00:18:41.759 for example, now. 325 00:18:43.519 --> 00:18:46.039 I don't expect you to know becausisions in the industry, 326 00:18:46.559 --> 00:18:50.240 but we've had a very rough journey where this says 327 00:18:50.279 --> 00:18:52.480 in the UK are taking longer than the NOR money 328 00:18:52.519 --> 00:18:55.759 would So I thinking that can happen between now and twenty years. 329 00:18:56.559 --> 00:18:58.799 But I think if your finances are in checked, that's 330 00:18:58.799 --> 00:19:00.599 one thing less to worry about. 331 00:19:01.759 --> 00:19:05.960 So have money to base. 332 00:19:06.279 --> 00:19:09.079 Yeah, and there lots of investments. Say that if you 333 00:19:09.119 --> 00:19:12.599 don't have money today and you start to see, you're 334 00:19:12.640 --> 00:19:15.440 making it better for yourself. And again if you were 335 00:19:16.960 --> 00:19:21.400 in your broad they have lots of edicated accounts like 336 00:19:21.720 --> 00:19:24.440 five two nine where you can put money aside and 337 00:19:24.519 --> 00:19:27.759 that money is invested for you task free for education, 338 00:19:28.200 --> 00:19:32.279 specifically for education Nigeria. We don't have it. So the 339 00:19:32.319 --> 00:19:34.240 one investment, like I go back to the street anything 340 00:19:34.279 --> 00:19:36.480 this account that's the one investment. I think that you 341 00:19:36.559 --> 00:19:40.839 can use and feedback as an educational account because any 342 00:19:40.880 --> 00:19:43.160 money you put in there, if you're going to Donyra, 343 00:19:43.880 --> 00:19:46.480 it's tax extents, right. And if you're going to do 344 00:19:46.519 --> 00:19:49.960 a broaduct like you're recommended Google broad, look for a 345 00:19:50.000 --> 00:19:53.559 foreign mutual fund or a foreign income based fund that's 346 00:19:53.559 --> 00:19:55.759 gonna pay the diffidence. Put your money in there, let 347 00:19:55.839 --> 00:19:58.599 it grow as the child is growing, so that the 348 00:19:58.720 --> 00:20:02.640 process of compounding allows that money to grow that when 349 00:20:02.680 --> 00:20:05.599 the child is holder, it's not much easier for him. 350 00:20:05.720 --> 00:20:10.359 Completely agree. Absolutely, So you're talking again about the So 351 00:20:10.400 --> 00:20:15.240 we've got Michelle here as well. Michelle. Yeah, So I 352 00:20:15.279 --> 00:20:18.079 was gonna does Michelle having to add on to this planal? 353 00:20:18.160 --> 00:20:20.720 Do you want to continue? 354 00:20:22.839 --> 00:20:25.319 Michelle straight and I think we might need to refresh 355 00:20:25.319 --> 00:20:26.359 the question for her. 356 00:20:26.680 --> 00:20:34.279 Yeah, him, Michelle, Thank you, Michelle. We've been talking about 357 00:20:34.359 --> 00:20:37.400 what QS is, We've talked about what QS does. We're 358 00:20:37.440 --> 00:20:39.920 I'm talking about how to plan out I want to 359 00:20:39.960 --> 00:20:43.039 send my kids abroad and say twenty years or ten 360 00:20:43.160 --> 00:20:48.079 years long term plan? What is the process? What's the 361 00:20:48.160 --> 00:20:50.200 suspends that listen, the first thing you want to use, 362 00:20:50.240 --> 00:20:53.799 you'll just have a long term savings mindset, take the 363 00:20:53.839 --> 00:20:57.880 money aside, how to put it aside for the for 364 00:20:57.920 --> 00:21:01.240 the earnings to earn dip then that would then be 365 00:21:01.359 --> 00:21:05.599 for education. So its then to how I can plan 366 00:21:06.039 --> 00:21:09.599 in Nigeria to educate my kids abroad or Nigeria and 367 00:21:09.599 --> 00:21:13.000 its being foreign currency. What are the best practices that 368 00:21:13.039 --> 00:21:13.759 we can adopt. 369 00:21:15.519 --> 00:21:19.200 Okay, thank you very much and I apologize again for 370 00:21:19.400 --> 00:21:20.440 joining really. 371 00:21:21.920 --> 00:21:25.559 On the topic of planning ahead. I think. 372 00:21:27.079 --> 00:21:30.480 What's polymos succeed actually goes in line. 373 00:21:30.640 --> 00:21:33.759 But just so happly to in Nigeria. 374 00:21:33.839 --> 00:21:37.119 Yes, we do have the culture or I believe this 375 00:21:37.200 --> 00:21:40.839 space is for Nigeria right for West Africa. 376 00:21:40.920 --> 00:21:42.240 I believe in Nigeria we don't. 377 00:21:42.039 --> 00:21:46.079 Have that culture where parents tend to start up phones 378 00:21:46.279 --> 00:21:50.279 for successfully for education. And just a few people are 379 00:21:50.400 --> 00:21:53.559 quite informed that that actually happens in Nigeria. Board it's 380 00:21:54.079 --> 00:21:58.960 enforced and people feel like when they keep out phones. 381 00:21:59.119 --> 00:22:02.359 May be true in insurance accountries and all that, it's 382 00:22:02.640 --> 00:22:05.759 it's really response is actually the best way to go 383 00:22:05.839 --> 00:22:08.000 about it, because in the worst world, that's. 384 00:22:07.799 --> 00:22:08.519 What people do. 385 00:22:09.160 --> 00:22:13.160 You start out little amount monthly, you just put it, 386 00:22:13.240 --> 00:22:14.839 put it in there and forget about it. 387 00:22:14.839 --> 00:22:16.440 It looks like you've forgotten about it. 388 00:22:16.759 --> 00:22:20.599 But over time it's a cruise interest that would stand 389 00:22:20.640 --> 00:22:23.079 out when you stand for the child to go to 390 00:22:23.240 --> 00:22:26.519 college and study anywhere, and then the interest rates. 391 00:22:26.319 --> 00:22:29.079 Keep going off for you. I think there are. 392 00:22:28.960 --> 00:22:34.359 Certain things like that in Nigeria for some specific insurance companies. 393 00:22:34.440 --> 00:22:37.240 I think while I was back in Nigeria, I had that. 394 00:22:38.759 --> 00:22:40.440 Educational savings. 395 00:22:41.039 --> 00:22:43.559 I think it's a trust fund something that I was 396 00:22:43.640 --> 00:22:45.160 doing and the money grew. 397 00:22:45.240 --> 00:22:47.720 But yeah, so, but it's just a lot. 398 00:22:47.640 --> 00:22:49.079 Of us are not in form but that's. 399 00:22:48.960 --> 00:22:51.440 Actually the best way to go about it. We have 400 00:22:51.559 --> 00:22:53.359 the culture of oh, I want to go to school, 401 00:22:53.400 --> 00:22:55.279