Thank you for visiting everyday and being patient enough to understand about wealth creation,wealth management and now we are in the last phase (wealth preservation and transfer).
Previous posts include saving, cutting cost, getting rid of debt as ways to take control of our finances. Endeavor to click on the links to see them if you haven't done so already. They hold a lot of great insights.
There is little available information concerning investing that appeals to Nigerians or Africans generally hence this post. While the ultimate investing decisions to our counterparts in other climes may include stocks, we find a distrust for investing in the stock market here. Growing up, my dad used to reward good academic performance with investing in shares or at least a promise to have shares waiting for you when you get of age, but not any more. More people are exploring different way to invest or create future wealth.
Women have also been discovered to have a risk averse attitude which means they run away from risk but does it make them take bad investing decisions? According to research, they are better with investing decisions but due to their lack of appetite for risk, they do not bother with investing decisions and may see it as a man's forte.
What are my options when it comes to investing?
# Equities, Bonds, Treasury bills e.t.c. (Securities)
# Mutual funds
# Pension scheme
# Contribution funds
# Bank placement
# Start ups
# Owning a business
# Real estate
# People
As earlier stated, not a few women treat investing in securities as a leper and the crash in stock prices recently have reinforced their attitudes but there are alternatives to investing in equities if we are concerned about the risk involved in equities. Treasury bills are backed by the government of a country and have very little risk attached. Mutual funds are also an option for those who need the assurances of professionals in order to take risk.
Pension funds and contributory schemes are a way to invest also. There is a common misconception about pensions, people feel they can only partake when they are employed. It is possible to contribute to your pension monthly even if you are an artisan.
Bank placements are a favorite, this is where free funds are placed in a financial institution for a fixed time in order to receive a certain amount of interest. It is better to go for those that compound your interest.
Another favorite is real estate, that is our new crave when we think investment in Nigeria ever since the major dip in stock prices. Building and acquiring properties as a source of future income.
Other methods include investing in promising start ups in exchange for equity, starting your own business and investing in people.
I hope you enjoyed this informative post. Remember to share across your social media and leave me your comments below. Thank you
PEARL
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