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Investing in your 20s
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Multipod
#1 Posted : Tuesday, December 08, 2015 4:08:59 PM
Rank: New-farer

Joined: 6/25/2015
Posts: 36
Location: Nairobi, Kenya
Hi guys

I'm in my 20s, looking for the best way to invest my money. So far, I've bought land, I have 2 term policies, I'm in a chama where we contribute quite a good amount of cash monthly (but don't know what to do with it). I feel I should be doing more but I don't know where to start since I don't have a financial background. Stocks are an unchartered territory for me. I'd really love to acquire a house before I turn 30 but the mortgage threads here are quite discouraging. I have a monthly salary and varying allowances from work travel.

For those with more financial experience, what should I do? I'm open to taking more risks but I'm wary of people taking advantage of my naivety.

Heeeelp!
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Swenani
#2 Posted : Tuesday, December 08, 2015 4:41:53 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
Multipod wrote:
Hi guys

I'm in my 20s, looking for the best way to invest my money. So far, I've bought land, I have 2 term policies, I'm in a chama where we contribute quite a good amount of cash monthly (but don't know what to do with it). I feel I should be doing more but I don't know where to start since I don't have a financial background. Stocks are an unchartered territory for me. I'd really love to acquire a house before I turn 30 but the mortgage threads here are quite discouraging. I have a monthly salary and varying allowances from work travel.

For those with more financial experience, what should I do? I'm open to taking more risks but I'm wary of people taking advantage of my naivety.

Heeeelp!


First lesson in investing is losing money! So find a way on how to lose money first before thinking of investing
If Obiero did it, Who Am I?
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Multipod
#3 Posted : Tuesday, December 08, 2015 4:46:46 PM
Rank: New-farer

Joined: 6/25/2015
Posts: 36
Location: Nairobi, Kenya
Swenani wrote:
Multipod wrote:
Hi guys

I'm in my 20s, looking for the best way to invest my money. So far, I've bought land, I have 2 term policies, I'm in a chama where we contribute quite a good amount of cash monthly (but don't know what to do with it). I feel I should be doing more but I don't know where to start since I don't have a financial background. Stocks are an unchartered territory for me. I'd really love to acquire a house before I turn 30 but the mortgage threads here are quite discouraging. I have a monthly salary and varying allowances from work travel.

For those with more financial experience, what should I do? I'm open to taking more risks but I'm wary of people taking advantage of my naivety.

Heeeelp!


First lesson in investing is losing money! So find a way on how to lose money first before thinking of investing


What do you mean by losing money?
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aljazeera
#4 Posted : Tuesday, December 08, 2015 5:43:45 PM
Rank: New-farer

Joined: 6/22/2015
Posts: 51
Location: Nairobi
[/quote]

First lesson in investing is losing money! So find a way on how to lose money first before thinking of investing
[/quote]Shame on you d'oh!

What do you mean by losing money?[/quote]

From another post ;@sitaki.kujulikana wrote:
wazuans are too political, fence sitting always wants to be on the safe side.
give @lidarmama friend advice.

Don't scare people off their ambitions and interest.if 'you' have 'made it',encourage others to do so too positively.
A Theory of Everything.
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murchr
#5 Posted : Tuesday, December 08, 2015 6:07:20 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
So many pple like you have posted stuff here just dig up wazua
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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MaichBlack
#6 Posted : Tuesday, December 08, 2015 6:08:15 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,912
Swenani wrote:
Multipod wrote:
Hi guys

I'm in my 20s, looking for the best way to invest my money. So far, I've bought land, I have 2 term policies, I'm in a chama where we contribute quite a good amount of cash monthly (but don't know what to do with it). I feel I should be doing more but I don't know where to start since I don't have a financial background. Stocks are an unchartered territory for me. I'd really love to acquire a house before I turn 30 but the mortgage threads here are quite discouraging. I have a monthly salary and varying allowances from work travel.

For those with more financial experience, what should I do? I'm open to taking more risks but I'm wary of people taking advantage of my naivety.

Heeeelp!


First lesson in investing is losing money! So find a way on how to lose money first before thinking of investing

Eish!!! What kind of advice is this???

@Multipod - Don't listen to such advice at all!!! I don't know where it comes from.

You don't have to lose money to make money. There are many people who have made it without losing money!!! Granted, when you start investing there are always possibility of losing money but it is not a rule!!!

Buy more land. It doesn't matter where. If it is a good deal, buy it. You are not planning to settle there or develop the plot. You can always sell the land later to finance other ventures. Learn about stock trading - this is a nice place to start. Go through numerous threads and you will learn stuff you would never have learnt in any University. In the meantime you can put your money in low risk instruments like T bills etc. Once you understand the stock market you can get in pole pole. At the right time. Tell your chama members to seek financial advice from a professional. Someone who can advice you how you can profitably invest your money. Or all of you can research. Heck, start a thread here - with specifics like how much money we are talking about, your goals as a chama etc. - and you get free advice pap!!!
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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MaichBlack
#7 Posted : Tuesday, December 08, 2015 6:09:49 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,912
murchr wrote:
So many pple like you have posted stuff here just dig up wazua

Nice advice. Search the site using key words like investment for begginers, How to invest etc.
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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Multipod
#8 Posted : Tuesday, December 08, 2015 7:17:42 PM
Rank: New-farer

Joined: 6/25/2015
Posts: 36
Location: Nairobi, Kenya
murchr wrote:
So many pple like you have posted stuff here just dig up wazua


The thing is, I've been reading up on different threads here and I'm overwhelmed. I always leave feeling more confused than informed.
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Multipod
#9 Posted : Tuesday, December 08, 2015 8:00:03 PM
Rank: New-farer

Joined: 6/25/2015
Posts: 36
Location: Nairobi, Kenya
@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?

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sparkly
#10 Posted : Tuesday, December 08, 2015 8:59:01 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
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