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Investing in your 20s
Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
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Multipod wrote:@MaichBlack Thanks for the advice. Now, of course land is good but it reaches a point where what you can afford (or afford to take a loan for) is really far from your area of operation/residence. That makes it hard to follow up on it, issues for squatters, land grabbers etc. How do you deal with that?
Check plots sold by reputable sacco like stima investment sacco or sic.co.ke. just ngoogle .is hard to get land grabbers dealing with them. Some have titles ready.
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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enyands wrote:Multipod wrote:@MaichBlack Thanks for the advice. Now, of course land is good but it reaches a point where what you can afford (or afford to take a loan for) is really far from your area of operation/residence. That makes it hard to follow up on it, issues for squatters, land grabbers etc. How do you deal with that?
Check plots sold by reputable sacco like stima investment sacco or sic.co.ke. just ngoogle .is hard to get land grabbers dealing with them. Some have titles ready. @enyands, Saccos normally load a premium on the plots they sell to heh members. With proper due diligence, which is easy to do, one can get better deals by buying direct too. I once checked where a Sacco was selling an quarter for 400k and found out that was he price for half an acre within the same neighborhood. For starters though, the Saccos can be a good starting point. "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
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Gathige wrote:enyands wrote:Multipod wrote:@MaichBlack Thanks for the advice. Now, of course land is good but it reaches a point where what you can afford (or afford to take a loan for) is really far from your area of operation/residence. That makes it hard to follow up on it, issues for squatters, land grabbers etc. How do you deal with that?
Check plots sold by reputable sacco like stima investment sacco or sic.co.ke. just ngoogle .is hard to get land grabbers dealing with them. Some have titles ready. @enyands, Saccos normally load a premium on the plots they sell to heh members. With proper due diligence, which is easy to do, one can get better deals by buying direct too. I once checked where a Sacco was selling an quarter for 400k and found out that was he price for half an acre within the same neighborhood. For starters though, the Saccos can be a good starting point. Now iv learnt something new .thanks though
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Rank: New-farer Joined: 6/25/2015 Posts: 36 Location: Nairobi, Kenya
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Now, there's this thing of borrow more to earn more. While others say that you should use the money you have to build yourself. Should I take a loan amd invest that money in the T-bills and bonds and the stock market or should I use the cash I already have?
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Rank: Veteran Joined: 8/25/2012 Posts: 1,826
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You are an interesting person, even under online anonymity, you still find it hard to mention your exact age 20s could be 20 or 29.
you also find it hard to mention the income you get, how are you going to be helped if you fail to mention that.
Tell your exact age, the monthly income, and the work you do. someone may have made it in a situation similar and can give advice based on factual events, otherwise you will just get theoretical advice which you can get in any business book.
I have always felt the biggest advantage of forums is you get to tap into practical experience that you can not gain without going through the same for a longer period.
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Rank: Elder Joined: 7/22/2009 Posts: 7,912
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Multipod wrote:Now, there's this thing of borrow more to earn more. While others say that you should use the money you have to build yourself. Should I take a loan amd invest that money in the T-bills and bonds and the stock market or should I use the cash I already have? Use your money for now!!! The day you will have spectacular ideas (properly analyzed and tested) that can make enough money to pay the interest and leave you with a truckload of money, then you can start leveraging on other people's money (loans). One thing about loans, you must be sure what you want to do with the money WILL be able to pay the interest at the bare minimum!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: New-farer Joined: 10/19/2015 Posts: 21 Location: Everywhere
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The best advice I received is to ensure that you have at least a year of living expenses saved up in a savings account or money market fund. Once this is done you can invest with more confidence. Find an area that suits you and work on it. In your 20's the greatest return on investment are found in Human Capital therefore invest in professional training programs, learn a new language and take up further studies if possible.
Therefore, create a solid financial base for contingencies and rainy days then invest in yourself and find something/an area of investment that works for you. Most people think investing is only stocks, bonds or land however there are a million other areas.
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Rank: New-farer Joined: 6/25/2015 Posts: 36 Location: Nairobi, Kenya
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grahamsdisciple wrote:The best advice I received is to ensure that you have at least a year of living expenses saved up in a savings account or money market fund. Once this is done you can invest with more confidence. Find an area that suits you and work on it. In your 20's the greatest return on investment are found in Human Capital therefore invest in professional training programs, learn a new language and take up further studies if possible.
Therefore, create a solid financial base for contingencies and rainy days then invest in yourself and find something/an area of investment that works for you. Most people think investing is only stocks, bonds or land however there are a million other areas. I have actually never thought of it that way. I need to invest in myself. Lakini, wueh! 1 years worth! That's a lot!
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Rank: Member Joined: 11/17/2009 Posts: 399 Location: Where everyone knows you
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Multipod wrote:Now, there's this thing of borrow more to earn more. While others say that you should use the money you have to build yourself. Should I take a loan amd invest that money in the T-bills and bonds and the stock market or should I use the cash I already have? NEVER ever borrow money to invest in T- Bills & bonds or the stock market. Your returns would be lower than the interest paid on the borrowed money. Read some of the threads here BEFORE you do something stupid that you will regret and lose money on.
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Rank: New-farer Joined: 10/19/2015 Posts: 21 Location: Everywhere
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Multipod wrote:grahamsdisciple wrote:The best advice I received is to ensure that you have at least a year of living expenses saved up in a savings account or money market fund. Once this is done you can invest with more confidence. Find an area that suits you and work on it. In your 20's the greatest return on investment are found in Human Capital therefore invest in professional training programs, learn a new language and take up further studies if possible.
Therefore, create a solid financial base for contingencies and rainy days then invest in yourself and find something/an area of investment that works for you. Most people think investing is only stocks, bonds or land however there are a million other areas. I have actually never thought of it that way. I need to invest in myself. Lakini, wueh! 1 years worth! That's a lot! It depends on your employability, usually it's 6 months worth of expenses but Kenya is looking volatile nowadays so let's say a year. Honestly, there's nothing worse than having to liquidate investments at huge discounts due to cash flow problems.
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