The 10x Factor
You sure say no be SCAM?
Here are 5 phrases we can add to the header that will automatically turn this into a SCAM:
Intentionally growing your portfolio by 10x in Nigeria – No investment knowledge needed
Intentionally growing your portfolio by 10x in Nigeria – in 30 days
Intentionally growing your portfolio by 10x in Nigeria – Zero Risk
Intentionally growing your portfolio by 10x in Nigeria – 1 Million to get 10 million Serious Minds only
Intentionally growing your portfolio by 10x in Nigeria – A Prayer and Fasting Session
Avoid the above.
My method is different. It takes commitment and grit over a minimum of 10–15 years of your life. It is a habit you learn, with no shortcuts and no excitement. Boring daily habits are documented and repeated. But I have crawled for the past decade so that you can fly. Here’s a summarized version for you that, if you do a little bit more research on, you can unsubscribe from this newsletter and be okay:
Set a Goal – We need to find out your financial freedom number. This is a bulk sum you need to generate a cash flow that covers your monthly needs. If you need N200,000 to survive every month, then your goal would be to amass wealth that gives you a cash flow of N200,000 monthly. For example, at 12% p.a. (or 1% flat – which is a decent rate looking at a 10-year average), you will need about N20.27 million.
Take care of insurance – Because you are not all-knowing, and your wealth is not useful to you if you’re not healthy. Insurance is a kind of investment in that it frees up money for you to invest in the event of any eventuality.
Set up your emergency fund – This should be six months of your living expenses. So, whatever your required monthly cash flow is, multiply it by six. Do not take this and put it under your pillow or in a savings account. Inflation will eat it up, and when the emergency comes (and it really will), the funds will be worth less. So put it in a Money Market mutual fund where you can access it within 48 hours. Here is a list of money market mutual funds registered with the SEC.
Build your portfolio – To get 10x in the next decade, you need a good sense of diversification across major asset classes. Typically, there are three classes within which diversification can be achieved:
Low-Risk Instruments – Mutual Funds, Fixed Deposits, Treasury Bills, Commercial Papers, etc. This should typically take up to 60% of your portfolio.
Medium Risk – Stocks, Real Estate, Funding Businesses – this should typically take up to 30% of your portfolio.
High Risk – Crypto, Forex, Binary options, Derivatives – this should typically never be more than 10% of your portfolio.
What matters most is what you do next.
So make sure you decide to take action.