Stream

Join this community to post or comment

Zenith Bank PLC
owner

Discussion  - 
 
THE ART OF WEALTH CREATION – WEALTH MANAGEMENT

Like they say, the first million is the hardest to make. If you don’t come from #money to begin with, then, you will have to earnestly take to heart parts 1 and 2 of this series in order to arrive at this point. But once you have gotten to that point, with discipline and sound investment advice, attaining the status of a high net-worth individual is not the most difficult thing in the world. Then you will find yourself in the market for #wealth management solutions and weapons-grade financial advice.

Wealth management is basically seeking out the best way to further grow your wealth portfolio. It goes beyond the basic #saving techniques as, at this point, the aim is to grow your wealth to the point where you are able to live off the #interest from your well-placed #investments.

Extreme caution is required when exploring your wealth management options. The first order of business is to find a trusted #financial advisor whose wealth management consultative skills should augment your current financial situation. Typically a competent wealth manager would create a plan to preserve and grow your wealth based on your financial situation, goals and comfort level with risk.

A single dedicated wealth manager is a better proposition than a horde of different finance professionals as, in that situation, you would benefit from a holistic approach in which a single manager coordinates all the services needed to manage your money and plan for you and your family's present and future needs.

After you agree on the plan prepared by your wealth manager, you should meet regularly with the manager to update your goals, review and re-balance the financial portfolio and investigate whether additional services are needed.
Wealth managers are typically with a client throughout their life as wealth management is a journey rather than a destination.

This is why it is imperative that you find a manager who is the perfect fit for you not only in terms of technical skill and competence, but also in terms of understanding your long and short term goals, your risk appetite and most importantly, you as an individual, not just as an investor.

Please share your thoughts and experiences on your investment journey in the comment section below.

#ZenithBank
2
Add a comment...

Zenith Bank PLC
owner

Discussion  - 
 
THE ART OF WEALTH CREATION - INVESTING: MAKING YOUR MONEY WORK FOR YOU

Two weeks ago, we took a synoptic look at the first step in #wealth creation and shared some hacks to get you on your way.

Please share any challenges you’re experiencing while trying to save with us by commenting at the bottom of the articles and we’ll do our best to help you.

Today we’ll look at #Investing, which is a very delicate and critical part of the wealth creation journey.

What is investing?

Simply put, it is any activity you commit your #money to in the hope that it would yield beneficial returns.

So unless you don’t care about your #funds, it’s clearly very important you have a firm grasp of what you are investing your money into, be it stock, a partnership with someone, fixed deposits, bonds, treasury bills or general commerce.

These types of #investments are guided by different principles which you must understand if you are going to take advantage of them.

You also need to know the right time to undertake an investment so you don’t get your fingers burnt.
You must have more than a superficial knowledge about the asset conversion circle of the investment you are trying to engage in and understand the possible risks you will face.

For example if you decide to go into grain hedging it won’t make any business sense to buy the products you want to store during the dry season, would it?

So our investment advice for today is simple:

Research the preferred investment and get all the information you can

Never base investment decisions on hearsay

Only take #financial advice from people that are experts on your preferred form of investment.

Now, go out and put your money to work!

Next week, we will look at how to manage your accrued wealth wisely.

#Zenithbank
4
1
Emmanuel Dominic (Emasax)'s profile photoZenith Bank PLC's profile photo
5 comments
 
Hello +Emmanuel Dominic, Thank you for your feedback. In line with your response, there are a lot of online sites where freelancers can get outsourced briefs such as Fiverr.com, Freelancer.com and elance.com.
Explore those sites for jobs in data entry, graphic design and other similar areas. Alternatively, you could begin repairing computers.
Just let your social contacts know you can do that and you will soon have a client base, particularly if you are very good at it and deliver your work on time.
Remember, obstacles are those things we see when we take our eyes off our goal. Let nothing stop you.
Add a comment...

Zenith Bank PLC
owner

Discussion  - 
 
WHEN IS THE BEST TIME TO START SAVING: HINT…THE ANSWER IS IN TODAY’S DATE.

Given today’s economic realities, it is not surprising that Nigerians are generally on edge and ready to snap at the slightest provocation.

The fall in Government revenue due to pipeline vandalization / bombings in the Niger Delta, growing unemployment, increasing inflation, external pressure on the naira’s value and a number of other factors has everyone worried and uncertain if the economy will fall into a recession or start to experience positive growth over the next couple of months.

While economists argue the merits and demerits of a restrictive or expansionary fiscal policy at this time and the Government tries to jumpstart the economy via diversification and several other laudable initiatives, there is one truth no one can run away from…the next couple of months are going to be tough.

Our question then…Is there a better time than the present to start saving?

We’ll leave the answer up to you…

Please+1, participate and share!
#Savings #Aspire #Moneytips
7
3
Add a comment...

Zenith Bank PLC
owner

Discussion  - 
 
SAVING TODAY FOR TOMORROW

Congratulations! You just got married and plan to start a family. One major worry though, is the cost of raising and providing your child with good education, especially given today’s economic realities.

A practical course of action would be to start saving before your child is born.
You can open a savings account for this purpose and put away as much as you can.

This egg nest will not only come in handy when your bundle of joy arrives, it will also condition your psych and make it easier for you to then open a ZECA account for your child as he/she grows up.
Please +1 and share.

#Financialtips #Savings #ZECA #Zenithbankchildrensweek 
4
Add a comment...

Zenith Bank PLC
owner

Discussion  - 
 
THE ART OF WEALTH CREATION

Hey there, this is the first of a weekly 4 part series on wealth creation that we hope will help you learn the art of creating wealth. Over the next 4 weeks we’ll focus on:

1 Savings
2 Investing
3 Managing
4 Wealth

For starters, wealth creation simply means increasing what you have (in most cases money) by an arithmetric or geometric multiplier over a period of time through a firm grasp of business workings, hardwork and dedication.

But to successfully do that and create lasting wealth, you must have something to begin with. Hence our first focal point:

’Savings’

Unless you have very rich affiliates (family and friends) or the capacity to access capital (loans or equity), there is no way you can escape the ‘Savings’ step during your journey to wealth for one basic reason

Income (Y) = Consumption (C) + Savings (S) i.e [ Y=C+S ]

That’s it guys, all the money we earn daily/weekly/monthly/annually is either spent or saved and if you take your income as fixed, then your ability to save actually depends on you and the importance ratios you attach to Consumption and Savings. The higher one is the lower the other would be.

So make a conscious effort to save a portion of your earnings this month. You can start small and build on this after it becomes a habit.

Remember, the first step is usually the hardest.

Here are some Savings Lifehacks to help you get started

- Eat in
- Ignore Fashion Labels
- Look out for deals and discount
- Document your expenses as ‘Needs’ and ‘Wants’
- Cut down on the wants

Look out for episode 2 next week.

Please +1, comment and share this article with a friend. It might help.

#Savings #Lifehacks
4
1
Add a comment...

Created by

Roy Ifeanyi

Discussion  - 
 
Is is true that CBN no longer give out Tb purchase?

2
Zenith Bank PLC's profile photo
 
Hi +Roy Ifeanyi, apologies for the delay in responding to your query.
The CBN still issues Treasury Bills.
Kindly visit the nearest Zenith Bank branch for more information.
Thank you.
Add a comment...

Zenith Bank PLC
owner

Discussion  - 
 
#REALITYCHECK…HOLD A YARD SALE.

The desire to ‘own stuff’ has been with us for as long as there has been life on our planet. We just can’t help ourselves.
We must own stuff…a new pair of shoes, that dress, perfume, jewelry, electronics and on and on.

Soon you have a whole load of stuff you haven’t worn, used or touched in a long time, occupying valuable space in your bedroom and then you start wondering where it all came from.

You’ll make some #money and clear up room for another round of stuff acquisition, especially if you are a compulsive shopaholic like some of us. 
2
Add a comment...

Zenith Bank PLC
owner

Discussion  - 
 
When you have a long to do list, working your way down the list one item at a time will help you clear it faster.
What other techniques do you use to clear your table at work?
Please share.
3
Add a comment...

Zenith Bank PLC
owner

Discussion  - 
 
TEACHING YOUR CHILD TO SAVE MONEY

The importance of learning this at an early age cannot be overstressed.

In a study conducted on a group of children some years ago - http://bit.ly/1D3xDlQ - each child was left alone in a room with a marshmallow and two choices:

1) Eat that one marshmallow immediately or
2) Wait 15minutes and get an additional marshmallow.

While some children were able to wait, others weren't.

The study continued as the children grew up and revealed that those who waited 15 minutes to get an additional marshmallow grew to be steady, dependable and overall more successful individuals than those who couldn't wait.

This can be applied to all areas of a person’s life. Even around us today, we see adults who earn an enviable income but are in debt due to poor financial discipline and others who might earn less, and yet, flourish.

Teaching your child to “earn money” and then to put some of it aside for a future purpose – buy a new toy, buy something for their parents, buy a new book, etc – would only serve to raise a dependable and resourceful adult.

Please +1, comment and share with friends.

#ZECA #Savings #Zenithbankchildrensweek
2
1
Add a comment...

Zenith Bank PLC
owner

Discussion  - 
 
Build your circles.

Look around you. People are constantly speaking…even when silent, our countenance, moods and behaviours tell a lot.

If you watch more closely or listen more intently, you’d be surprised by how many family members, friends and colleagues you could touch, reassure and help in different ways.

Make out time to get closer to your circles. Invest your time, money and presence on them. Do this without expecting a reward…or rather, do this with the expectation of a stronger relationship with them.

That is reward enough for your investment.

Please +1, share and leave your opinion in the comment section.

#Socialinvestment
3
3
Victory Gillis's profile photo
 
This is absolutely very true
Add a comment...