There is no longer any news on how many people have poor incomes.
91 million Nigerians, according to the Nigerian Economic Summit Group (NESG), are considered to be living in poverty.
On the other hand, many Nigerians believe that investment is just for the wealthy and prosperous.
Particularly young people believe that investment is reserved for wealthy individuals.
Others hold the opinion that people shouldn’t consider investing until they have amassed a respectable sum of money.
Head of research and strategy at Cowry Asset Management Victor Ofili spoke on the significance of having inexpensive access to excellent penny stocks.
The number is exactly twenty kobos. Find a store in Nigeria where you may get items similar to these.
If you’re unsure, I’d suggest checking the Nigerian Exchange.
No, but if investors or low-income workers have a long time horizon and a lot of money to be patient with, the stock market may work for them.
I’ll advise this people to invest in penny stocks.
This is due to the fact that many shares in reliable, powerful companies may be purchased for a relatively small investment.
When it comes to other types of assets, such as commodities and real estate, buying low and selling high may be a superior strategy.
The investment banker advised looking into these firms since they claimed to have solid business foundations.
Examples are University Press Limited and Regency Alliance Insurance.
University Press Limited generated a 130 percent return, while Regency Alliance Insurance generated 132%.
These two organizations have to be on your list this year, along with the Transnational Corporation of Nigeria.
In the banking industry, shares of Fidelity Bank can be purchased.
It makes sense to purchase stocks while they are inexpensive in order to benefit from strong dividends and a high probability of financial success.
Mutual funds are professionally managed and may assist people even if they don’t have a lot of money if you don’t have the time to handle your finances.
Speak with your investment advisor for further suggestions on how to invest in the stock market, he said.
Multi-Asset Portfolio Manager at Paragon Partners Solomon Ogene claims that
No matter how much money you have, investing takes time. “You must persevere and maintain consistency.”
He said that before embarking on a voyage like this, the investors should choose how much risk they are ready to face.
Matching the risk profile of an investment to the option chosen is crucial since different investment alternatives have varying levels of risk.
You can determine which assets are ideal for you by providing an honest response to this question.
For those who want to take chances, it means they may invest in the stock market, where the rewards are greater than the dangers.
He advised those who don’t make modest incomes to use their investment bank to invest in debt securities issued by either a sovereign (country) or a company that pays interest to the owner of the instrument.
That’s all for the moment.
Contrary to popular belief, when your income declines, the necessity to invest increases.
What makes you want to do this, then? Because investment may open up new revenue streams for you,
When you invest in something, you want to get more rewards from it.
No matter who you are or how much money you make, you can spend it and receive something back. You benefit when you invest money in anything.
The amount of money you make shouldn’t influence how you invest; instead, it should act as a motivator.
Knowing your financial strengths and limitations might help you create objectives and select the right investment vehicle if you have a limited income.