International Investor, Here’s the easiest way to invest in your future 

Having a retirement plan and investing adequately to this effect is a very essential thing to do. Unfortunately, many Nigerians seldom invest towards retirement due to some factors ranging from poverty to high cost of living and lack of knowledge about the importance of financial planning.

Understanding the issue

Let us consider the high cost of living in Nigeria for a moment. Millions of Nigerians merely survive on their salaries, struggling on a daily to meet their basic needs. This situation makes it extremely difficult for people to save money let alone invest.

A guide to investing in a Call Account, Using Earnings to Select Stocks

[READ MORE: Investment options for salary earners]

But there could be a way to get around the situation. According to Tomie Balogun, a renown financial literacy advocator and Co-founder of Midas Capital NG, Nigerians would find it less difficult to invest in their future if only they are willing to prioritise it just as much as they prioritise their bills.

Balogun revealed this recently in Lagos while speaking during the third edition of AXA Mansard’s Out of The Box, a financial roundtable that was organised by the insurance and asset management company.

“Investing in your future would be less difficult if it becomes part of your bills to pay- @TomieBalogun. The third edition of “Out of The Box” had Tomie Balogun, our amazing guest who is a leading expert on how to start, manage and grow investment clubs… Time to stop spending money impulsively and put your money to work for you.”

This is a very important financial advice from Balogun and it basically entails planning your revenue properly. Imagine you imbibe the habit of spending your money on investment packages the same way you spend it on groceries and clothes. The difference here is that while the money you spend buying call credit and internet subscription will never return to you, the one you spend on your pension and life insurance will become useful again when you are aged and unable to work.

[READ ALSO: Key things to consider when investing in real estate investment trusts]

What you should know before investing in Cryptocurrency

More important advice

Balogun also advised that it is high time Nigerians stopped spending money impulsively. There is no doubt that many people in Nigeria (especially young adults) spend money anyhow, sometimes without a budget. The money people expend on unnecessary gadgets and other perishable luxury items could be properly invested towards future retirement.

 

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.