I nice piece I just read at the Nigerian Tribue. Inspiring!
NIGERIAN TRIBUNE - Financial Freedom - Wealth Creation Through Shares
Develop a passion for shares
By Ayeromara Peter
A young man of 23 years came to my office three years ago. He was then a final year student of Lagos State University (LASU). He came purposely to dispose some of his shares so as to pay his school fees and complete his final year projects. When he handed his share certificates to me and the statement of his account in CSCS, the thought that came to my mind was that the young man was one of those bad boys that wanted to sell his father’s shares. On a second thought, I began to ask him a series of questions.
An authentic owner?
The guy answered my questions beyond any doubt that he was the authentic owner of the shares. Still not satisfied, I went to the stock broking firm where he purchased the shares through his CSCS account. All the staff of the stock broking firm testified that they knew him very well. When we calculated his investment in shares as at then, it was over eight hundred thousand naira (N800, 000.00).
The most surprising thing was that the guy was an orphan. The parents died when he was in primary school. This young man, through dint of hard work and discipline, sponsored himself to school up to the university level without any help or support. Despite that, he developed an investment mindset when he was still young. According to him, he started investing in shares since 1997 when he was in secondary school.
Labouring to invest
After school hours, he would go and do menial jobs. The proceeds he would then divide into three; one part for his feeding, another for his education and the last would be used to invest in shares. That was not the end of the story. A kind hearted man who was with us when this man was narrating his story told him not to sell part of his shares. He gave him the one hundred thousand naira he needed. The young men developed a passion for shares even though it was not convenient for him then. He set aside money everyday to buy shares.
You have no excuse, really!
If an orphan like that man could weather the storm to plan for his financial freedom, nobody should have any excuse not to be rich. One thing about money is that, if you are earning five thousand Naira (N5,000) per month and you don’t save, you would not be able to save and invest when you are earning more. This is the reason you see people working in multinational companies with fact pays begging when they are no longer there.
The power of savings and investment
Savings and investing lead to multiplications of wealth. The most interesting thing about investing in shares is that once you start, you become addicted to it. Do you know that most of the richest people in the world made their money in the stock market? Do you also know that individuals, big corporations, multinationals, banks etc invest them surplus in the stock market?
A few examples
Bill Gates of Microsoft made his money through the computer but became very wealthy through investments in shares, bonds and other financial instruments. The computer alone would not make him the richest man alive; he did it by multiplying his money in the stock market. Warrant Buffet the second richest man alive also multiplied his money through shares. Coming back home, the Onosondes, the Ibrus, the Dangotes, Jimoh Ibrahim, Oba Otudeko, the Ojoras, and so many people too numerous to mention invested in and have made money in the stock market.
How much do you want to earn
You must sit down and write down how much you want in next five years. As each year is coming to an end, write your mission statement, your vision for the next year. Write down the amount you will set aside weekly and monthly for shares. For details on how you can become a multimillionaire in a few years by investing, your mission statement, how you can turn your N5, 000 or less monthly in shares by trading profitably in them so as to retire rich, start planning for your retirement in 5,10, 15, and more years. Also, don’t forget to buy a copy of my book, Secrets of Making Money in Shares’. If you read the book, you will not have any reason to be poor again in life.
