1. DEFI (decentralized finance)is a range of financial services that takes place online without going through banks and agents. What this means is anyone with the required tools can easily participate in actions that multiply their money by themselves
As I am right now, it is almost impossible to find 500,000 naira sitting idle in my account. You know why?
I have a target of 300 million naira from mutual funds alone before I turn 40. Every naira I can spare goes into that goal. I only keep emergency cash and even that is locked away. If I need to access it, I have to wait at least a week. I set it up that way on purpose.
I refuse to joke with my 20s and 30s.
Right now, my mutual funds generates almost 200,000 naira monthly in interest alone. And I am still depositing every single month, which means that number keeps climbing.
Even if I stop working today, I will still be making close to 200,000 naira monthly without lifting a finger.
What I started with 30,000 naira monthly is now generating almost 200,000 naira monthly in passive income. In 10 years, that same investment will be generating nothing less than 2 million naira monthly. Without doing any work at all.
I am sharing this to encourage you. Young men and women, please take your savings and investments seriously. The sacrifices you make in your 20s and 30s are the exact things that will give you rest in your 40s and beyond.
Start now. Lock it away. Leave it alone. Let it grow.
Above all, love God.
For those of you who are interested in mutual funds and compound interest for the long term, please take your time to read as I break down how you can get started.
Mutual funds is not a get rich quick scheme. It is a very wise and low risk investment that requires consistency and discipline to pay off. Your 20,000 naira monthly today can start giving you 1 million naira in monthly returns without you doing anything.
The app we are using today is COWRYWISE.
Go to Google Play Store or App Store, download the Cowrywise app and create your account. It is as easy as creating any social media account. Just fill in your details.
Once you have signed up, you will be asked to deposit 1,000 naira to start. Please note that a fee of 15 naira applies, so you will be asked to deposit 1,015 naira. Make sure you send that exact amount. An account number will be provided for you (on the app) to transfer into.
Once that is done, your account will be opened. You will see two options: Save and Invest. Click on Invest, then select Naira Mutual Funds.
You will then be shown portfolio options. Please choose the Conservative Portfolio. It is low risk and currently offers 16.61% interest per annum. Do not go for the higher percentage options out of greed. Slow and steady is the goal here.
From there, follow the prompts, set your savings frequency (2,000 naira daily, 1,000 naira daily, 50,000 naira monthly, whatever works for you) and begin your journey.
The goal is not to get rich overnight. The goal is to be consistent.
Above all, love God.
Thatโs my sister ๐๐ฏโโ๏ธ๐
A Nigerian creative who got viral on TikTok!
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DO NOT FORGET, FREE SUNDAY JACKSON
DO NOT FORGET, FREE SUNDAY JACKSON
DO NOT FORGET, FREE SUNDAY JACKSON
DO NOT FORGET, FREE SUNDAY JACKSON
DO NOT FORGET, FREE SUNDAY JACKSON
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Cc @RepRileyMoore@SenTedCruz
The same way some people are pained when people from broken homes get married
Talmbout why the heck will a Nigerian lady whose parents are divorced be getting married before me that my parents are pastors?
My sister, life is not black and white oo ๐