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1. Yes, if you earn N150k 5 years ago, that means you earn $1,000 and if you earn 450k now, it also translates to $1,000. Have you improved?
2. Yes, you have. The truth is your company will still pay you in Naira, and you can't keep changing all your Naira to $$.
1. Yes, if you earn N150k 5 years ago, that means you earn $1,000 and if you earn 450k now, it also translates to $1,000. Have you improved?
2. Yes, you have. The truth is your company will still pay you in Naira, and you can't keep changing all your Naira to $$.
You earn in Naira and largely spend in Naira
So...
You have improved because if you don't earn that N450k you are even worse of.
You have improved because you did the best you could within that period to even increase your earnings.
So...
You have improved because if you don't earn that N450k you are even worse of.
You have improved because you did the best you could within that period to even increase your earnings.
You have improved because their is close to zero you can do change that narrative for Nigeria
You have improved despite Nigeria not because of it.
You have improved because the currency in which you earn is largely out of your control (there are exceptions of course).
You have improved in my opinion, Nigeria only failed you with gross inflation and devaluation.
You have improved because the currency in which you earn is largely out of your control (there are exceptions of course).
You have improved in my opinion, Nigeria only failed you with gross inflation and devaluation.
Going forward what can you do to be better?
Like I said earlier, you can't change all your earnings to $$ my friend. You still spend largely in Naira.
However, because you have savings, you need to be wise about your savings.
Like I said earlier, you can't change all your earnings to $$ my friend. You still spend largely in Naira.
However, because you have savings, you need to be wise about your savings.
Put a percentage of your money in $$ denominated investments
Eurobond
Index Fund
Stocks
Or alternative assets that you really understand.
Eurobond Index Fund StocksOr alternative assets that you really understand.
How much of your savings should be invested in $$ denominated assets?
There's is a reason why "Personal" is added to personal finance.
What is good for ganja may not be good for the other.
So determine for yourself what amount you may not need for a long time.
There's is a reason why "Personal" is added to personal finance.
What is good for ganja may not be good for the other.
So determine for yourself what amount you may not need for a long time.
I mean it when I say long time. It's what you won't need for a long time that's best kept in $$.
I've expanded a lot on this before here ( https://twitter.com/DavidAlade__/status/1260499849818095617?s=19)
Also, you can seek a financial advise from those whom you think have requisite knowledge to guide you.
I've expanded a lot on this before here ( https://twitter.com/DavidAlade__/status/1260499849818095617?s=19)
Also, you can seek a financial advise from those whom you think have requisite knowledge to guide you.
The truth is you still can't diversify 100% away from the "sorry case" that has become of Naira (you earn in Naira and spend in Naira), so just do as much as possible.
Importantly, as you journey towards financial independence, let me tell you an open secret that I'm very sure you know and I'm also very sure you won't follow.
You need to build things that allows you earn exponentially. That's the new secret of wealth.
You need to build things that allows you earn exponentially. That's the new secret of wealth.
When you rent out your time for work, you can only earn so much and that linearly.
That's because you only have 24 hours in a day to rent out.
But when you build things that allows you to earn even when you sleep, you are on your way to financial freedom.
That's because you only have 24 hours in a day to rent out.
But when you build things that allows you to earn even when you sleep, you are on your way to financial freedom.
Things that involves renting out time:
Hourly work
All salary based job (it means you have to always work to earn)
All work that means you must always do it to earn (this includes organizing training online)
Hourly work All salary based job (it means you have to always work to earn) All work that means you must always do it to earn (this includes organizing training online)
Things that involves a onetime work but a lifetime earning:
Recording some of your training sessions and selling them at a subscribed price.
Write a book that people want to read and sell it for life.
Build a brand that gives you leverage.
Recording some of your training sessions and selling them at a subscribed price. Write a book that people want to read and sell it for life. Build a brand that gives you leverage.
You think it's hard, yes it is.
In fact, very hard.
Let me tell you how had it is.
My sister likes cooking so she started recording herself anytime she's cooking and she simply uploads it on YouTube
That's hard. https://www.youtube.com/channel/UCL1sd65BI75cB7tKIQQ1pFQ
In fact, very hard.
Let me tell you how had it is.
My sister likes cooking so she started recording herself anytime she's cooking and she simply uploads it on YouTube
That's hard. https://www.youtube.com/channel/UCL1sd65BI75cB7tKIQQ1pFQ
I like writing and anytime I write, I build my personal brand. That's how hard it is.
The same thing that I write here, I package for better consumption and send it to my newsletter subscribers. I gather email along the way and build a fan base. http://Davidalade.substack.com
The same thing that I write here, I package for better consumption and send it to my newsletter subscribers. I gather email along the way and build a fan base. http://Davidalade.substack.com
Well, that's exactly how hard it is.
You need to OWN a piece of something to attain the level of financial freedom you dream of.
If you live in my part of the world, you even need it more.
It matters if you earn that extra income in $$ but what matters more IMHO is that you even earn at all.
DO THE HARD WORK
If you live in my part of the world, you even need it more.
It matters if you earn that extra income in $$ but what matters more IMHO is that you even earn at all.
DO THE HARD WORK
