To retire wealthy is still possible
Today I want to show you a few proven steps on how to retire
wealthy.
First of all, I want you to understand that the law of ‘Opportunity Cost’ (foregone alternative) is highly essential for your wealth building to be assured. You don’t have to continue spending the same way you do and expect to grow financially or retire wealthy. Something must have to give way for another to come in.
First of all, I want you to understand that the law of ‘Opportunity Cost’ (foregone alternative) is highly essential for your wealth building to be assured. You don’t have to continue spending the same way you do and expect to grow financially or retire wealthy. Something must have to give way for another to come in.
To start practicing the opportunity cost pattern of wealth building, your first
step should be to start writing down your daily expenses. At the end of the month, get your expenses
register and check the amount of money you spent in one month. Break it down
into different segments e.g. food, beverage, clothing, transportation, water,
entertainment, donations, charity, etc. after that, start cutting down on some
unnecessary frivolities. You will be amazed at the result you’ll get.
For example, I had to review some my expenses like this:
I take bike
transportation (okada) to and fro from my house to the bus stop (at N50 per
drop). That is about N700 weekly or N3, 800 monthly.
I take soft drinks and snack (worth N300) at least four times a week. That is about N1, 200 weekly or N4, 800 monthly.
These are some expenses I can comfortably live without. To be able to save
I have to walk down from my house to the bus stop (which is not far anyway) everyday. [Motor cycle transportation as I discovered has made so many poor and average Nigerians lazy and impatient these days]. With this, I saved extra 3,800 monthly.
I take soft drinks and snack (worth N300) at least four times a week. That is about N1, 200 weekly or N4, 800 monthly.
These are some expenses I can comfortably live without. To be able to save
I have to walk down from my house to the bus stop (which is not far anyway) everyday. [Motor cycle transportation as I discovered has made so many poor and average Nigerians lazy and impatient these days]. With this, I saved extra 3,800 monthly.
I stopped taking soft
drinks and snacks as I do all the time and saved myself extra N4,800 monthly. On the whole, I am able to save N3,800 + N4,800 = N8,600 on monthly basis. That
means in one year I will save N8,600 x 12 = 103,200. In ten years I must have
saved 1,032,000 (one million thirty thousand Naira).
Now assuming I decide to invest my one year savings which is N103,200 where it can yield 84% interest annually, what I will make is about N8,668,800 (i.e. Eight million, six hundred and sixty eight nthousand, two hundred eight hundred naira).
Now assuming I decide to invest my one year savings which is N103,200 where it can yield 84% interest annually, what I will make is about N8,668,800 (i.e. Eight million, six hundred and sixty eight nthousand, two hundred eight hundred naira).
That means, if I am able to endures spending this N8,600 on
frivolities monthly for just one year and invest the N103,200 where it will yield 84% annual interest, I will have made
over hundred million Naira in twenty years.
It’s simply incredible.
Some factors that prevent people from saving:
It’s simply incredible.
Some factors that prevent people from saving:
Impatience: majority of us feels
that saving small amount monthly is worthless compared to their high achievement
expectations. Of course we all want to save something tangible; something that
will amount to huge money when accumulated in one year. But that is just
where the problem lies. Due to this high expectation, we end up not saving at
all. Just as the wise man in the Bible called Solomon said “a wounded dog is better than a dead lion”; I say to you today: “it is
better to save something little than not save at all.”
Another challenge to saving is
Another challenge to saving is
Extremism: most people
starve themselves and ignore some key responsibilities in order to save
something tangible. At the end, they are tempted to deep their hands into their
savings to satisfy some vital needs when pushed to the wall. When that happens, they get discouraged
and the idea of saving money is discontinued.
The right way to save is to set aside any amount that will not be felt when removed from your income. Just like money for a cup of coffee or bottle of soft drink and snack. A person that earns N20,000 monthly and save N500 is better than the big guy that earns N1,000,000 monthly (lives in comfort) but saves nothing.
My encouragement to you today is that you can grow that small N10, 000 of yours (which may have taken you one full year to save) into over N18, 000,000 (eighteen million Naira) in 15 years when invested where it can yield 84% annual interest. Remember, I will be showing an online investment that can make you 84% come this sat 26th may 2012 please visit www.fullfreeseminar.blogspot.com to view the whole details.
The right way to save is to set aside any amount that will not be felt when removed from your income. Just like money for a cup of coffee or bottle of soft drink and snack. A person that earns N20,000 monthly and save N500 is better than the big guy that earns N1,000,000 monthly (lives in comfort) but saves nothing.
My encouragement to you today is that you can grow that small N10, 000 of yours (which may have taken you one full year to save) into over N18, 000,000 (eighteen million Naira) in 15 years when invested where it can yield 84% annual interest. Remember, I will be showing an online investment that can make you 84% come this sat 26th may 2012 please visit www.fullfreeseminar.blogspot.com to view the whole details.
To start immediately click on this link immediately to
discover how to turn $10 (N15,00)into $60(N9,000) in 2week Guaranteed. www.opportunities-littleinvestment.blogspot.com
Also check out the online penny stock www.onlinepennystock.webs.com
To your success
Josephson peter okwudili
