How to be financially free in 10 to 15years in Nigeria
FOR SALARY EARNERS
1.Develop a monthly budget of expenses,savings and investments
2.Keep loose change in bank accounts;
3.Develop an emergency fund with 3 to 6 months worth of expenses and put it in @PiggyBankNG wallet to get that monthly interest then compound it every month.
4. Invest at least 25times annual income by investing in stocks for at least 10 to 15years.
Open 3 different portfolios with different strategies & develop a monthly investment plan. @trove @chaka @investbamboo to reach your FI goal.
5. Always stick to your plan.
For portfolios ..have a dividend stock portfolio and Growth stocks ...separate or combined. Dividend yield of 4% is ideal.
Reinvest dividends and continue investing until you reach your goal for FI (25 times your annual income).
People in their twenties and thirties have the unique advantage of having many years to let their investments grow from modest amounts to very substantial amounts.
For example, if you invest $200 each month at six percent for 20 years, you'll have $92,408.
If you invest $200 each month at six percent for 30 years, you'll have $200,903. If you hold
if you invest $500 each month at six percent for 30 years, you'll have $502,285.
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#DividendInvesting #passiveincome
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