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I got a new job and will like to know how to plan my investment, things like that? |
By that i mean what kind of investment do i take monthly with my small salary. I really need to start investing now. My monthly salary is about N60,000.00 I am not sure what N60,000.00 is. I'm not sure if you mean Nairas or New Shekels. Either way, one universally tried and true method is to put money into your savings or investments accounts as if you were paying your bills. Otherwise, I'm not familiar with your investing options for those two countries beyond normal stocks and currency trading (I might not have even guess the right country). There might be special investment tools in your country that can limit your tax liabilities, but for that you should consult a local, legitimate financial advisor. First of all, as soon as you get your pay check, you should settle all your commitments,like monthly room/house rental, car loans, petrol bills, credit cards bills etc. Having paid up all thos commitments, leave aside an amount for your daily expenses. If you find you have extra money, go ahead and buy some insurance policies. But maybe the company you are working in, may have bought you a policy under their group insurance. Save whatever you have balance in the bank, accumulate the money to be saved up as deposit for properties like maybe, a house, or small piece of land to start off with.Never gamble your money away in shares. Dont commit too much on shares investments unless you are very sure of the returns.You have to go slow in investment of any sort, go in at the right time and never be in a hurry to be cheated by would be swindlers out there.Good luck to you in your investment and do take precaution. Live below your mean and diversify your investments Drop me a line. |
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