Fellow villagers,
As I was surfing the web this morning, my financial sorrows led me to explore the various loans calculators in anticipation to borrow money from my Sacco to finance some pressing needs.
Now let me digress.
I stumbled on loan calculator for savings and quickly gathered that if today I start saving Sh2,000 every month in an investment vehicle that gives a modest 7% on savings, my savings would have spiralled to a whooping KSh 2,439,941.99 in 30 years to come.
Just imagine, a cool Sh2.4 million from savings of as a little as Sh67 everyday!
Now can we have experts here critique my idea or suggest the best investment vehicle in the market currently? One that will not collapse somewhere along the way.
In 30 years, Ksh 2.4 million will be nothing. More like 50k today. You are welcome. If you want to retire rich, take CALCULATED risks with that money. Savers never retire rich.
Properties are better than savings
And you can never be richer than your employer…as long as you’re working for him/her!
2.4 million in 30 years? :D:D:D boss wachana na mogoka. Hiyo pesa ni kidogo sana hata sahi.
Ask yourself, what was the equivalent of today’s 2000 shs 30 years ago in 1988?
Kijana , go ahead and start saving. As your earnings increase you can also increase your savings to 3k, 5k per month ivo ivo.
Do that and am sure your salary will keep increasing so pia ongeza your savings with percentage increase of your salary.
This is a lie that has been repeated so many times. I call it a lie because it is parroted without context. Suppose i have 1M and I go and buy 20 acres of land in north eastern or any other semi arid county, will this make me rich in a few years down the line. Not everybody has enough money to buy properties in Nairobi. If I have 10M today and buy risk-free bills at about 11% discount, I will make 1M in a year, that is an average of about 70K per month after tax. But how many ordinary or employed people can have that money to put in treasury bills? That is why we have many saving options, saccos, insurances etc. Go with what suit you
Sijui lakini bills/bonds/shares ni property ama asset? All the same, whichever: if you can try to put some of your money on something that will likely not depreciate inflation not withstanding.
that was a down payment to buy a 50 by 100 by then.
all industries are the same, whether u invest in t-bills, plot, quails, church, oil or timber does not matter. make sure your money gives you above 15% p.a at the smallest risk
time value of money
Jaribu CBA loop huko u save for 3 month interest ni 7.5%
So for 1 year utakuwa 7.5*4=30%
The point is “take CALCULATED risks with that money” and grow it. But also consider stashing away a little amount-that you will still spend in other ways awayway- to your retirement basket.
2.4 million shillings is peasant money
hehehe interest is always expressed P.A my friend
impossible, confirm tena
spoken like a old dude’s advice