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Advise on taking a loan to purchase stocks
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ulekijana
#31 Posted : Tuesday, July 12, 2016 2:59:18 AM
Rank: Hello

Joined: 6/21/2016
Posts: 6
Location: Nairobi
Swenani wrote:
ulekijana wrote:
PeterReborn wrote:
Dont take that loan to buy shares.You would rather accumulate the shares slowly.Te stock market may only recover from 2018.
Taking the loan though is a good idea rather than wasting the money with alcohol and women.Get the loan and buy a piece of land from verified property sellers like mhasibu and safaricom housing.With the 2m you can buy 4 or 5 piece of land at 400k each.


I am not going the land route since perhaps I am too chicken.

Why? I have no idea how not to get ripped off with all this fake titles going around. Then I find there is the lie in the now popular 1/8th an acre.

Even then, I really don't want to buy land that I do not have money to develop i.e. fence, pay land rates, I do not know anything about farming and surely that will not leave me with cash to even erect 2 apartments

My plan is to build the cash from the loan and buy a 1/8th when I get to 26 where I plan to settle when I get family at 30 I estimate. By then I will be disciplined enough as an investor to plan for a house wisely and hopefully not come back here with another question of a loan Laughing out loudly Laughing out loudly Laughing out loudly


seems you're young...You should also be visiting those fish parlours and eating fish from different cornersof this world....Trust me it grounds you!smile smile


Most of my paycheck has been swallowed by many of these fishes in nice fancy restaurants which most of the fishes I have always been hot on heels for are very glad to partake. Include free drinks and how everybody thinks when they meet me I am the one buying lunch. Include the small quick loans that are never paid back in most cases and "hey hun.. it's been long" whatsapp messages from people that never reply to texts shortly followed by "si unisakie job hiyo place unawork" Mainly because most are jobless plus I was very lucky that I got a nice job making almost 140K gross. ...So much pressure though Sad Sad


Now I figure I should start my life afresh with the minimal spending and get just one fish at my new lower level who does not know that I make such an amount and cannot fathom how the hell am I not driving since this is the in thing these days or getting in that really nice 45k apartment since 140k sounds like a really nice chunk Laughing out loudly Laughing out loudly Laughing out loudly

I also did land way so many times in campus with a 70k gross salary after we got some billionaires to pump money where I work which seemed like millions in campo with me being even allergic to kibanda food Laughing out loudly Laughing out loudly Laughing out loudly

I have had my fun though...though not as wild as most people have but someone here has that handle: "You will lose money chasing women but you will not lose women chasing money"
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Ebenyo
#32 Posted : Tuesday, July 12, 2016 10:08:00 AM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale


You are a smart young boy.However you are betrayed by your age.You are in a stage in life where unapeleka mambo mbio mbio.Everything is faster,faster,faster.
I dont blame you.Its a stage of life which everyone goes through.In that stage you really need a mentor otherwise you will make a lot of mistakes.
In 13 years time to come,you will regret very many decisions that you made in a hurry.Haraka haraka haina baraka.
At my age now,i regret many decisions that i made in the last 18 years.If i could go back,i will really make things different.But its impossible! i will only try to make it better for my children instead.
The age you are in now is the best to start creating wealth.So far you are doing well.I bought my first shares at 29 years old.Yet you started at 19 years old.In four years time you have built a portfolio worth 91k.Thats commendable for you.You will only get better.
Your major weakpoint is trying to go at 100km per second!
Since you have chosen shares as your main avenue to create well,thats great.I too is my main avenue.I believe in stocks.
But there is no investment which is a sure thing.All investments bear some risks to certain degree.Its for you to weigh your risk tolerance.
The rule of thumb is to diversify.My ultimate investment portfolio im aiming to build is: 1.Shares 2.T.bond 3.Real estate.
This will minimize my risks as i will not be too much exposed.
For your case,you should have started like this:
Buy the target shares in monthly bits of 50 k per month.
In one year that will be a portfolio of 600 k.
In the second year continue with the same discipline 50 k per month but this time for T bond.You will have another 600 k for T bond
In the third year aim for the real estate.With the 600 k discipline per year,it will be a capital to start in the real estate.
In three years you will have:
1.600 k worth in shares
2.600 k worth in t bond
3.600 k capital to start real estate.
Repeat the circle in another 3 years and you will have 3.6m worth in investment.And thats without any loan.You will then only bet 29!.In another six years you will have 7.2m woth of investment and at 35 years old,you will be fine with the annual returns of 700000k.
Think longterm my brother and it will be well with you.
Towards the goal of financial freedom
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  | | Edit by user: Tuesday, July 12, 2016 7:42 PM | Reason: Not specified
Ericsson
#33 Posted : Tuesday, July 12, 2016 10:19:05 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
@ulekijana
As you try educating yourself on building a portfolio that will give you passive income also spend time building your other aspects of life.
Don't say you are too young coz the choices you make today will determine your destiny tomorrow.
things such as how to spot a good lady who will help you grow and not bring you down because at one time like you have mentioned you will want to settle down and raise a family,work-life balance so that you give your body enough rest and also enjoy fruits of your hardwork,how to interact and relate with people in a mature manner etc
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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instinct
#34 Posted : Tuesday, July 12, 2016 10:43:56 PM
Rank: Member

Joined: 8/17/2007
Posts: 294
take the loan but not now. you've seen nothing yet from the bear. it will keep going down and only pick up from feb 2018
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tom_boy
#35 Posted : Wednesday, July 13, 2016 7:07:01 AM
Rank: Member

Joined: 2/20/2007
Posts: 767
Ebenyo wrote:


You are a smart young boy.However you are betrayed by your age.You are in a stage in life where unapeleka mambo mbio mbio.Everything is faster,faster,faster.
I dont blame you.Its a stage of life which everyone goes through.In that stage you really need a mentor otherwise you will make a lot of mistakes.
In 13 years time to come,you will regret very many decisions that you made in a hurry.Haraka haraka haina baraka.
At my age now,i regret many decisions that i made in the last 18 years.If i could go back,i will really make things different.But its impossible! i will only try to make it better for my children instead.
The age you are in now is the best to start creating wealth.So far you are doing well.I bought my first shares at 29 years old.Yet you started at 19 years old.In four years time you have built a portfolio worth 91k.Thats commendable for you.You will only get better.
Your major weakpoint is trying to go at 100km per second!
Since you have chosen shares as your main avenue to create well,thats great.I too is my main avenue.I believe in stocks.
But there is no investment which is a sure thing.All investments bear some risks to certain degree.Its for you to weigh your risk tolerance.
The rule of thumb is to diversify.My ultimate investment portfolio im aiming to build is: 1.Shares 2.T.bond 3.Real estate.
This will minimize my risks as i will not be too much exposed.
For your case,you should have started like this:
Buy the target shares in monthly bits of 50 k per month.
In one year that will be a portfolio of 600 k.
In the second year continue with the same discipline 50 k per month but this time for T bond.You will have another 600 k for T bond
In the third year aim for the real estate.With the 600 k discipline per year,it will be a capital to start in the real estate.
In three years you will have:
1.600 k worth in shares
2.600 k worth in t bond
3.600 k capital to start real estate.
Repeat the circle in another 3 years and you will have 3.6m worth in investment.And thats without any loan.You will then only bet 29!.In another six years you will have 7.2m woth of investment and at 35 years old,you will be fine with the annual returns of 700000k.
Think longterm my brother and it will be well with you.


This is seriously good advice. You should take it. However, you are blinded by youth and testosterone.
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Othelo
#36 Posted : Wednesday, July 13, 2016 7:22:12 AM
Rank: User

Joined: 1/20/2014
Posts: 3,528
Don't rely on your salary alone. find ways and means of swindling and stealing from your employer to increase your income!!!!!! This is Kenya bwana!!!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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jawgey
#37 Posted : Wednesday, July 13, 2016 7:27:44 AM
Rank: Member

Joined: 1/13/2014
Posts: 398
Location: Denmark
Othelo wrote:
Don't rely on your salary alone. find ways and means of swindling and stealing from your employer to increase your income!!!!!! This is Kenya bwana!!!

This is bad mentality.
Seeing is believing
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Othelo
#38 Posted : Wednesday, July 13, 2016 7:44:22 AM
Rank: User

Joined: 1/20/2014
Posts: 3,528
jawgey wrote:
Othelo wrote:
Don't rely on your salary alone. find ways and means of swindling and stealing from your employer to increase your income!!!!!! This is Kenya bwana!!!

This is bad mentality.

Bad mentality, YES! But just the reality smile
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Gatheuzi
#39 Posted : Wednesday, July 13, 2016 8:42:24 AM
Rank: Veteran

Joined: 8/16/2009
Posts: 994
Ebenyo wrote:


You are a smart young boy.However you are betrayed by your age.You are in a stage in life where unapeleka mambo mbio mbio.Everything is faster,faster,faster.
I dont blame you.Its a stage of life which everyone goes through.In that stage you really need a mentor otherwise you will make a lot of mistakes.
In 13 years time to come,you will regret very many decisions that you made in a hurry.Haraka haraka haina baraka.
At my age now,i regret many decisions that i made in the last 18 years.If i could go back,i will really make things different.But its impossible! i will only try to make it better for my children instead.
The age you are in now is the best to start creating wealth.So far you are doing well.I bought my first shares at 29 years old.Yet you started at 19 years old.In four years time you have built a portfolio worth 91k.Thats commendable for you.You will only get better.
Your major weakpoint is trying to go at 100km per second!
Since you have chosen shares as your main avenue to create well,thats great.I too is my main avenue.I believe in stocks.
But there is no investment which is a sure thing.All investments bear some risks to certain degree.Its for you to weigh your risk tolerance.
The rule of thumb is to diversify.My ultimate investment portfolio im aiming to build is: 1.Shares 2.T.bond 3.Real estate.
This will minimize my risks as i will not be too much exposed.
For your case,you should have started like this:
Buy the target shares in monthly bits of 50 k per month.
In one year that will be a portfolio of 600 k.
In the second year continue with the same discipline 50 k per month but this time for T bond.You will have another 600 k for T bond
In the third year aim for the real estate.With the 600 k discipline per year,it will be a capital to start in the real estate.
In three years you will have:
1.600 k worth in shares
2.600 k worth in t bond
3.600 k capital to start real estate.
Repeat the circle in another 3 years and you will have 3.6m worth in investment.And thats without any loan.You will then only bet 29!.In another six years you will have 7.2m woth of investment and at 35 years old,you will be fine with the annual returns of 700000k.
Think longterm my brother and it will be well with you.

Applause Applause Applause
Very good thinking, couldn't put it better. The only time I could advise on a loan is if one is not disciplined enough to commit on monthly saving a. The interest component will accumulate to one figure you will hate looking at in future.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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sparkly
#40 Posted : Wednesday, July 13, 2016 9:35:13 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Am disappointed with the "advice" being offered to this kijana. People telling him not to take a loan to buy assets! Not cool. Same people will advice him to take a loan to buy liabilities like a personal car or a residential house smh.

Wise people invest what they will earn tomorrow today while foolish people spend what they will earn tomorrow today.
Life is short. Live passionately.
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