Hello ktalkers.Someone is seeking some advice.Say you are in your late 20s,have a young wife.No children yet,living in Nairobi with a monthly income of 180 -200k.How would you advise such a person in terms of investment to make?.
Tunajua ni wewe.Anyway panga ya wato kando hata kama hamjapata bado,save for your house if income is after PAYE if not PNHY [SIZE=1](pambana na hali yako)[/SIZE]
na usikimbilie kununua gari,that can wait
First of all, is the source of your income relatively stable? That will inform your next move.
Are you employed or these are from your businesses?
Na ukinunua, stay humble, small, low maintenance car will do.
If it were me, I’ll first make sure that my rent is at minimal but decent house.
I’d say if no kids, a one bedroom to start with , or even studio, to give you time to save as much as possible, keep a simple lifestyle now and you will live well in the future.
Remember it’s not a race, everyone has their time to prosper, with this in mind, you won’t feel pressure from your sorrounding.
In summary, at the moment you should emphasize on maximum saving.
stable
Gari Ni hasara,Ni kama pombe…unakojoa inaisha…tafuta simple life,save the much you can for now…fikiria Gari ukipata mtoto
employed
Hawa watu wanasemanga gari ni hasara huwa wananibore sana. Jamaa ni mwerevu sana hataki kununua gari lakini ukimpata stage ananyeshewa huko upite atazusha. Heheheeee…
If you’re employed, don’t be in a hurry to buy things or pour your money into investments. First things first. If you’re earning 150k per month, save 12 months worth of salo which is approximately 1.8 million. Hiyo 1.8 million weka kwa fixed deposit or buy Tbills. Don’t even try to touch that money.
It is only AFTER you have this security and have paid off your loans (especially the high interest ones) can you start thinking about other investments like land or buying a house.
expound on this please. I’m assuming you are on the parameters that he has money on the side perhaps
Ndo maana wewe ni Bigfish.asante
But its not possible to save all your earnings.Kuna some expenses but i beleive one can save upto 70% of their earnings.
Young people (late 20s is young) feeling the warmth of new money tend to be in a rush with investing mara this business then the next. Shortly after that’s not good enough, on to yet another adventure. It’s very easy to fall prey to con men at this stage.
I say, tulia and save. Be very mean with your money until wisdom sets in over time. Believe me, making money is the easy part, keeping the money and growing it is what separates men from boys. If in doubt, save quietly as you ponder the next move. Always maintaining sobriety. Especially in a bad economy, con men are everywhere looking for a young “fool” to swindle.
true,ambia my baby sista hii
this bothered me a while back,where were you then? :D:D:D:D
Unfortunately most people learn the hard way.
But you realize sooner or later Uyu atapeana mimba
My only advice, jizoeshe kuspend only max of 40k monthly. Dont be extravagant, live modestly but not peasantly.
Further improve your skills and education through additional international trainings and accreditation.
Dont start doing drugs, even a beer a day is addiction.
Avoid dry fry things, either plant an implant on her arm or inject her…epuka kesi za hapo usoni.
you are a young man with a young wife, no kids. how much was your budget with your girlfriend while in campus?
for now you only need to save 70% of your income religiously for the next 18 months.
that will be enough time to develop financial discipline which will play a critical role in the next phase of investments