I saw this video on personal finance mgt & had to reshare. Reminds me of when I did a thread to clarity a tweet by a rich investment banker that it’s better to invest in securities than a home. And some Nigerians with different realities agreed w/o context
I’ve noticed many people give advise on Twitter solely from their own realities & parochial interests. For example, an investment banker advises securities over real estate, he benefits, a real estate broker advises real estate over securities- he benefits. Realities differ.
If you are from a privileged background & have conquered physiological needs, by all means focus on securities largely, even if you lose it, you still have family real estate as back up. You may never get a stroke from homelessness. But for many others, home ownership is safety.
If you are from backgrounds of lesser privilege than others, home ownership can’t be viewed solely from a returns perspective, but also from a safety net perspective. Owning your own home takes you a notch higher on the poverty net safety wise in a volatile society like NIGERIA.
Above all, spreading the risk reasonably as shown in that video is everything. Please always understand your realities, never deceive yourself and adopt “nuggets” from people with totally different realities & interests without applying proper context. End.
For those asking for the thread I did, this is it:
