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Creating A Retirement Fund That Works.
Retirement is wonderful if you have two essentials; much to live on and much to live for – Unknown. Unfortunately, many work for so long and end up with nothing much to live on upon retirement. To escape that trap is the reason for a retirement fund. A retirement fund (otherwise referred to as a pension plan) is an account where you invest a portion of your income towards retirement when your earnings capacity is expected to reduce, and upon retirement, you earn from the retirment fund. How does it work? Generally, there are two forms of pension plans; Defined Benefit Scheme and Defined Contribution Scheme. In the former, the…
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Money Lessons from Rihanna’s Billionaire Status
Rihanna Robyn Fenty known in the entertainment industry as Rihanna is one heck of a go-getter. The highly celebrated songstress and fashion icon answers to a new name now…billionaire! Among the businesses that have contributed to this new feat is her cosmetics brand Fenty Beauty in 2017 which was launched to cater to the beauty needs of women of colour. The questions on everyone’s mind is: How did she do it?? And what can we learn from her? Surprisingly, the first-ever female musician to become a billionaire did not achieve this status through her music. According to Forbes, the bulk of her fortune (an estimated $1.4 billion) comes from the…
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10 Tips For Creating A Financial Self Care Routine
As young people living in a developing continent with high levels of inflation, high levels of unemployment and a currency that is constantly being devalued, feeling immense levels of stress when we think about our finances is quite normal for a lot of millennials and Gen-Zs. The mere thought of how to pay your bills, pay your next rent or even afford higher education “abroad” can breed worry and feelings of helplessness among young people, impacting your everyday life, causing mood swings and sometimes even affecting your relationship with people around you. To live a financially whole life where you are free from constantly worrying about money, there is a…
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Investing Tips for the African Millennial Woman
Financial independence has become a vital conversation for many African millennials, especially women. From making money moves, securing the bag, investing in stocks, real estate, and building thriving businesses, the African millennial woman is evolving and taking more control of her financial freedom. She’s not afraid to take risks and look for opportunities. This was not precisely the case some years ago. But, then, our mothers, hardworking as they were, were often termed incapable of taking care of themselves and dependent on the man’s handouts. Moreover, despite being the best savers, women have been known to be scared of plunging into the uncertain world of investments in the past. They’d…
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What Your Risk Tolerance Says About Where To Invest
When I made my first investment, I was dabbling into something I had zilch knowledge about. Mymediocre self was hopeful that without touching the capital, perhaps I could be reaping inmultiples after a year. Little did I know that was merely a wishful thought. A year later, I hadforgotten the password to my app, but I wish I never remembered. It ended in hot tears! I had lost almost 40% of my money! (I didn’t invest in crypto…lol) I invested in an equity mutualfund. In finance, there is a truism that the higher the risk, the higher the expected returns. Inretrospect, I found that although I wanted huge returns (who…
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5 Money Tips for Ramadan
It is that time of the year when Muslims embark on the religious endeavour of fasting – the Holy Month of Ramadan. Arguably, many households tend to spend more on food during Ramadan. This may appear counter-intuitive since we should eat less. However, the reason may not also be farfetched since we tend to give more sadaqah (charity), pay zakat, sponsor iftar, spend on Eid celebration and several others. Along the line, many drift off-budget and struggle with an unprecedented financial constraint afterwards. To keep your finances in check during the Holy Month, consider doing the following; Prepare a budget – it is not too late to draw a budget…
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5 Habits of Financially Successful People You Can Start Today
We all have people who we look up to, those that have their money game in check. They don’t have too much Gbese and aren’t frazzled when they can’t afford Aso-Ebi. These are people who somehow have a good hang about money, and we hope to be like them one day. Not that they don’t spend too, but they know how to chop life and maintain balance. These people have a good relationship with money, which is built over time. The earlier we start cultivating their habits, the faster we reach that stage and become the rich aunts and uncles that have our money in check. Here are five habits…
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Template: Featured Image (No Sidebar Layout)
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Template: Featured Image (Full Width No Sidebar Layout)
This post should display a featured image, if the theme supports it. Non-square images can provide some unique styling issues.
