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How did you make your first Kes million?
Rank: Member Joined: 4/21/2011 Posts: 119
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Hey wazuans, Wow! I havent started investing but I am saving up to do that starting next year. I hope to have saved up 20,000 by then. I know that sounds too little but I am also saving up to move out. I have a child. Anyway I am interested in stocks. Which is the best way to go about it? Do I have to go through brokers?
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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mapozi wrote:Hey wazuans, Wow! I havent started investing but I am saving up to do that starting next year. I hope to have saved up 20,000 by then. I know that sounds too little but I am also saving up to move out. I have a child. Anyway I am interested in stocks. Which is the best way to go about it? Do I have to go through brokers? Congrats on ur initiative to save up to invest and I wish U much success. What u start with is not as important as consistency thereafter. Discipline & stick to YOUR plan. Being rich is relative anyway. U'll need a broker to invest on the NSE. So the question to be asked is who are best.
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Rank: Member Joined: 4/21/2011 Posts: 119
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Cde Monomotapa wrote:mapozi wrote:Hey wazuans, Wow! I havent started investing but I am saving up to do that starting next year. I hope to have saved up 20,000 by then. I know that sounds too little but I am also saving up to move out. I have a child. Anyway I am interested in stocks. Which is the best way to go about it? Do I have to go through brokers? Congrats on ur initiative to save up to invest and I wish U much success. What u start with is not as important as consistency thereafter. Discipline & stick to YOUR plan. Being rich is relative anyway. U'll need a broker to invest on the NSE. So the question to be asked is who are best. so who are the best?
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Rank: Member Joined: 7/9/2011 Posts: 730 Location: Nairobi
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@mapozi congrats for making your decision to start saving, the NSE is a good place to start. I would recommend CFC for brokers but there 19 others to choose from. look them p on the NSE website our goals are best achieved indirectly
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Rank: Member Joined: 7/9/2011 Posts: 730 Location: Nairobi
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Genghis Khan's story inspires me on this thread. It s amazing what you were upto in campus while some of us were still boozing (I was in campus at same time as you). I have not made a million yet but i found this thread inspiring by the age at which wazuans made their first M, Incredible stuff our goals are best achieved indirectly
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Rank: Veteran Joined: 3/25/2011 Posts: 946
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drzhivago wrote:At 24 (10 years ago), I cleared campus and made a list of things that I wanted to achieve in life (both short and long term). And by the way, this was not just financial … included other aspects of life as well (education, family etc). I studied it every day for a long while then forgot about it. I started hustling here and there, then got a scholarship and went away for masters, came back, got a relatively good job and got married. We are both disciplined savers and investors, and we give away a lot of our money too (not to the church) … somehow it finds its way back. never really were the type to live fast lives (used to do that in campus as I had other sources of revenue, but I grew up). Right now we are worth just above 15 million in savings and investments (and debt free)and have regular jobs that bring in good monthly income. It’s amazing how some things just stick in your mind and guide the general direction that you take in life. The list is not yet exhausted but the life am living now to a very large extent bears a striking resemblance to what was on it those many years back. you cannt be that mean to God who has given you so much ....just a thought
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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Rank: New-farer Joined: 6/8/2011 Posts: 20
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Hii Wazuans, I havent make it solid cash but have been wise to divert it to properties, and stock. Since Late last year have acquired 5 properties in different areas and currently netting over 50k monthly through network marketing. I am optimistic I will hit million very soon cos my network is really growing and the bigger it gets more income. my link http://www.infinitydownline.com/?id=triads
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Rank: New-farer Joined: 7/4/2011 Posts: 24
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IT'd wrote:My journey was kind of untraditional(in the typical kenyan scenario i.e) it happened online.I cleared high school and during that 1 year out I didn't go to any 'killing time' colleges,Instead I started visiting online forums,IRC channels and basically I became a very heavy internet user.I didn't have a computer at the time so the only way to access the internet was through my phone(it was a nokia n80).Eventually after seeing it all,I decided I also wanted to make money online like the people I used to interact with.Today I can say that am glad unlike most of my peers,I knew earlier that the internet was bigger than going to facebook to poke people and like status updates.So with that phone(you may chose to believe me or not)I created simple web pages that made me the 1st and 2nd payment as is in the screenshot below(read in an ascending order).  In those early days things were tough,I had sleepless nights,had to work like a horse,and nearly did give up(that first check you see of $215 which is ~ ksh.20,000 was for money generated over 4 months so technically I was making less than a maids salary working at times for upto 20hrs/day) Frankly I dunno what kept me holding on but as you can see my resilience eventually paid off.That screenshot right there is exactly my journey to my 1st million,I've already done my second and it's only been 8 months.Am becoming better at this and it makes me happy that am using my own talent to take myself to the top.I made a thread a while back about wanting to be a multibillionaire by 30 and right now,that doesn't feel unrealistic at all. in summary: -Keep a positive mind(this is everything) -A pure heart(when choosing who to bless,God doesn't look at your church attendance record,He looks at your heart,that's why you see very rich 'ungodly' people whom if you look closer turn out to be very philanthropic and very poor 'godly' people who haven't yet unlocked this secret...also here compassion is everything). -This I came to learn the other day,unless someone shows you a clear and precise manner in which they intend to repay you a debt,do not lend them anything....I've loaned out some ~100,000 and so far I've only been repaid sh.500 so you can imagine. -That is basically my story..gotta get back to work. - Are you still there? What is it that you do exactly? Kindly share.
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Rank: Member Joined: 7/9/2011 Posts: 730 Location: Nairobi
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Sorry GG i mixed up yoour name with Genghis Khan, my bad I will edit it ASAP our goals are best achieved indirectly
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Rank: Member Joined: 12/2/2009 Posts: 286 Location: Nairobi
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When this thread started, l read it and said, what the heck! But as Wazuans contribute, l thought l pen down my experience. I cleared campus at 26 and landed a job 8 months later. I made clear what my goal would be from mistakes my parents made: own property, build a home and be prosperous. My parents both worked for nearly 40 years each and had no fixed property to show apart from taking us to school and living high life. I made sure every plot my sacco sold l bought, mostly with the land as security and monthly deductions from my salary. I continue to do that todate, although a few times nowadays l am able to buy the land cash. When l cant afford, l book the land and monthly deductions are made from my salary. By the time l was 30, l had fully paid for 3 plots whose loans were all cleared, as l would pay ahead. Total amount paid for the plots was 320k inclusive of interest; when l got the titles, the plots were valued at 1.05m. That would be my first million. I sacrificed throughout my first 5 years of employment and lived on 20% of my income; and essentially saved the rest. I would get promotions and my lifestyle would remain the same (First rule of personal finance: you MUST live below your means). I had 2 brothers and 3 in-laws to support, and my wife shared and still shares my strategy! By the time l was 32, l had built my home (not on any of the 3 plots earlier bought) and moved in with money accumulated from my shares l used to buy for over 5 years and now l disposed off, a sacco loan and a bank loan. Last year, l cleared all loans taken in building the house. I have considerable investment in two saccos (which pay handsome dividents that have become my passive income), l have offshore investments, a few pieces of idle land scattered in the outskirts of Nairobi and one upcountry, shares across the border and one running business. I am soon investing in my second business by buying an ongoing concern with two colleagues. I have tried many things from exporting mangoes to exporting CITES birds like parrots to boda boda. You have to take risks, sometimes you lose, sometimes you gain. My one lesson is never run a business with a relative, based on trust. If you must, have all paperwork and contracts and records kept just like you would with a stranger. I am 35 now; and worth 30-32m. My aim is to be worth over 1 billion by the time I am 60. Plan to quit work at 40 and go into business 100%. I may appear off track, but dont rule me out yet, not just yet. The laudable is more often than not rendered laughable by overclaim
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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@barrywhite-impressive!! I just wonder how you managed to live on 20pc of income while having dependants. Ama your first job was an MP?
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Rank: Member Joined: 3/7/2011 Posts: 112
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Barrywhite wrote:When this thread started, l read it and said, what the heck! But as Wazuans contribute, l thought l pen down my experience. I cleared campus at 26 and landed a job 8 months later. I made clear what my goal would be from mistakes my parents made: own property, build a home and be prosperous. My parents both worked for nearly 40 years each and had no fixed property to show apart from taking us to school and living high life. I made sure every plot my sacco sold l bought, mostly with the land as security and monthly deductions from my salary. I continue to do that todate, although a few times nowadays l am able to buy the land cash. When l cant afford, l book the land and monthly deductions are made from my salary. By the time l was 30, l had fully paid for 3 plots whose loans were all cleared, as l would pay ahead. Total amount paid for the plots was 320k inclusive of interest; when l got the titles, the plots were valued at 1.05m. That would be my first million. I sacrificed throughout my first 5 years of employment and lived on 20% of my income; and essentially saved the rest. I would get promotions and my lifestyle would remain the same (First rule of personal finance: you MUST live below your means). I had 2 brothers and 3 in-laws to support, and my wife shared and still shares my strategy! By the time l was 32, l had built my home (not on any of the 3 plots earlier bought) and moved in with money accumulated from my shares l used to buy for over 5 years and now l disposed off, a sacco loan and a bank loan. Last year, l cleared all loans taken in building the house. I have considerable investment in two saccos (which pay handsome dividents that have become my passive income), l have offshore investments, a few pieces of idle land scattered in the outskirts of Nairobi and one upcountry, shares across the border and one running business. I am soon investing in my second business by buying an ongoing concern with two colleagues. I have tried many things from exporting mangoes to exporting CITES birds like parrots to boda boda. You have to take risks, sometimes you lose, sometimes you gain. My one lesson is never run a business with a relative, based on trust. If you must, have all paperwork and contracts and records kept just like you would with a stranger. I am 35 now; and worth 30-32m. My aim is to be worth over 1 billion by the time I am 60. Plan to quit work at 40 and go into business 100%. I may appear off track, but dont rule me out yet, not just yet. Why a Billionaire? Too stressful a goal. Ok, my 2 cents: To make your goal easier ... just think of generating meaningful employment opportunities for others and think less about the Billion ... then it will come. Else, I like the story .... you never know what one can achieve until that person tries!!
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Rank: Veteran Joined: 4/16/2010 Posts: 906 Location: Nairobi
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I agree with you, Abby. The target for me is to build a system that creates wealth. Like Warren Buffet said, when you start ignoring the fundamentals and focus more on the return, that's when irrationality sets in.
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Rank: Member Joined: 3/7/2011 Posts: 112
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Thanks.
There are real employment/poverty issues in this country ... just think of even your cousins, brothers, sisters, and many other people who are struggling in their lives without anything meanginful to do .... with money, one can really change people's lives .... if in the process one makes his Billion, it is all the better.
But one thing I agree with everyone: money gives one a lot of power to do good works!! With the right motives, of course.
Thanks
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Rank: Member Joined: 12/2/2009 Posts: 286 Location: Nairobi
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@ Lolest: I was lucky to be working in the field; and would be paid a per diem of 3k per day. Collegaues would go sleeping in 3-star hotels as l went to lesser places to save more. This helped me a great deal. The joke at the time was that l always had gashugwas and that's why l kept away, but l knew what l was doing. @Abby & KenyanLyric: I gave the financial target, which l know is very high by the way, because the thread was about a financial target. At no time have l made money or intend to make money illegally and for all intents and purposes, l have so far used my wealth to do good. My wife and l are in the process of registering a foundation to sort of structure the assistance we give; apart from direct relatives listed above, we have since 2009 in conjuction with 4 other couples, assisted kids from my location at home, picking the top 5 needy kids and sending them to school. We are currently supporting 15 kids. In the next two months, we will be finishing our third class room and connecting the third primary school to electricity in addition to donating computers to those schools whenver we replace the batch in our small IT firm. Our IT form employs 15 people (2 cousins, 13 Kenyans not related to us); and one highest ranked employee (not related to us) has become a shareholder as just our appreciation of his sheer hard work even without him paying for the shareholding. I have sponsored two focussed widows, who are now sending goods from Kenyan manufacturers to Rwanda & Burundi through Kampala Bus (I alluded to this in the threat about Rwanda's RSE and economic growth). Yes, l have cousins who may require help. But l once gave one capital to start a business, only for him to drink it all. Another failed in business but was focussed enough as he only made the wrong choice of business, and is now running a second business l capitalised profitably. Its abit difficult to have a smart target of helping and changing the world around you; without monetary targets to go with it. As l aspire to make y, l commit to myself and God to give x% of the y l have made to better the lives of others; thus the need for registering the foundation. But l agree with you; to focus entirely on money would be missing the point by far. The laudable is more often than not rendered laughable by overclaim
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Rank: Member Joined: 3/18/2008 Posts: 377
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@ Barrywhite, Quite impressive. Excellent idea giving back to the community. I also love your vision/focus. I made my first million almost 5 years ago. I had started applying to International jobs in 2002 and never gave up until late 2006 when I got the first feedback inviting me for an interview. Was offered the job, took up the challenge, crossed borders and embraced the risks hence my first pay check 1.3m. Planning for retirement in the next 2 years to focus on family business and charity "You've never lived until you've almost died; for those who have fought for it, life has a flavour the protected will never know."
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Rank: Veteran Joined: 12/8/2009 Posts: 975 Location: Nairobi
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Barrywhite wrote:@ Lolest: I was lucky to be working in the field; and would be paid a per diem of 3k per day. Collegaues would go sleeping in 3-star hotels as l went to lesser places to save more. This helped me a great deal. The joke at the time was that l always had gashugwas and that's why l kept away, but l knew what l was doing.
@Abby & KenyanLyric: I gave the financial target, which l know is very high by the way, because the thread was about a financial target. At no time have l made money or intend to make money illegally and for all intents and purposes, l have so far used my wealth to do good. My wife and l are in the process of registering a foundation to sort of structure the assistance we give; apart from direct relatives listed above, we have since 2009 in conjuction with 4 other couples, assisted kids from my location at home, picking the top 5 needy kids and sending them to school. We are currently supporting 15 kids. In the next two months, we will be finishing our third class room and connecting the third primary school to electricity in addition to donating computers to those schools whenver we replace the batch in our small IT firm. Our IT form employs 15 people (2 cousins, 13 Kenyans not related to us); and one highest ranked employee (not related to us) has become a shareholder as just our appreciation of his sheer hard work even without him paying for the shareholding. I have sponsored two focussed widows, who are now sending goods from Kenyan manufacturers to Rwanda & Burundi through Kampala Bus (I alluded to this in the threat about Rwanda's RSE and economic growth). Yes, l have cousins who may require help. But l once gave one capital to start a business, only for him to drink it all. Another failed in business but was focussed enough as he only made the wrong choice of business, and is now running a second business l capitalised profitably. Its abit difficult to have a smart target of helping and changing the world around you; without monetary targets to go with it. As l aspire to make y, l commit to myself and God to give x% of the y l have made to better the lives of others; thus the need for registering the foundation.
But l agree with you; to focus entirely on money would be missing the point by far. @barrywhite another great kenyan!!  You will know that you have arrived when money and time are not mutually exclusive "events" in you life!
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Rank: Veteran Joined: 11/11/2006 Posts: 971 Location: Home
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mkonomtupu wrote:Seles maybe this might inspire you in 2005. I had lost my entire fortune through a get rich quick scheme, i had only 8k in the account, 25k worth of shares and liabilities 0f 250k. I had to tarmac a whole year to get into employment where i had to work 6am to 8pm 6 days a week for 40k a month. for 2 years that didn't make me rich but it enabled me clear the liabilities and accumulate savings in a sacco where i took a loan of 300k. When shares took a nose-dive in 2009 used the loan to buy shares at rock bottom prices. When the share prices recovered n through regular re-balancing portfolio taking capital gains was able to get back to a net worth of million plus in assets. I took another Sacco of 600k bought good shares last year made some quick gains repaid half the loan and set out to do business where at least i can make in a day what i use to earn in a month. Morale of the story please avoid get-rich quick schemes; hard work, austerity living and saving regularly and borrowing wisely, repaying promptly will get you to your million. Guess the strategy can apply with the current bear market
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Rank: Veteran Joined: 3/25/2011 Posts: 946
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holycow wrote:mkonomtupu wrote:Seles maybe this might inspire you in 2005. I had lost my entire fortune through a get rich quick scheme, i had only 8k in the account, 25k worth of shares and liabilities 0f 250k. I had to tarmac a whole year to get into employment where i had to work 6am to 8pm 6 days a week for 40k a month. for 2 years that didn't make me rich but it enabled me clear the liabilities and accumulate savings in a sacco where i took a loan of 300k. When shares took a nose-dive in 2009 used the loan to buy shares at rock bottom prices. When the share prices recovered n through regular re-balancing portfolio taking capital gains was able to get back to a net worth of million plus in assets. I took another Sacco of 600k bought good shares last year made some quick gains repaid half the loan and set out to do business where at least i can make in a day what i use to earn in a month. Morale of the story please avoid get-rich quick schemes; hard work, austerity living and saving regularly and borrowing wisely, repaying promptly will get you to your million. Guess the strategy can apply with the current bear market most definitely . this bear market will make some of use millionaires 10 times over ...
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