On Money Talks today, we’ll start scratching the surface of multiplying money.
I looked at the Forbes’ list a few months ago and came to the conclusion that none of the people on the list made it there simply by working for an employer and earning a salary. Some say that a salary is a bribe paid to you to forsake your dreams. I guess that is debatable.
One thing that both entrepreneurs and salaried workers can do without knocking heads and throwing shades is making your money work for you. Yes, being an entrepreneur does not stop you from investing some of your profits in other ventures. Being a salaried worker does not stop you from investing either. INVESTING is the Lokoja where River Niger (Entrepreneurs) and River Benue (Salaried workers) meet.
Whether you are being bribed with your salary or you have ditched the 9-5 (abi na 7-3 or 5am to 10pm) grind and chosen the entrepreneurial life, you ought to save some of your salary/profits. Of your savings, invest some. I’ll recommend a 70/30 ratio in favour of investments. You can choose 80/20 to be “Pareto Principle” compliant, lol. Whatever ratio you choose is actually up to you.
Sometimes, what you have to invest may be small compared to what you want to achieve. You can choose to have a dedicated savings account to save till you have what you want. If you are like me and you can’t wait for all that razzmatazz, you can send an email. There is a club of like-minded people ready to pool resources together to multiply our money.
Take time to research what you want to put your money in so that “sorry” will not be your name. Remember that adage “Don’t put all your eggs in a basket”? It is very very important when you are an investor.
Have an investment filled week.